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Retail properties with existing kitchen infrastructure are moving quickly as food and beverage operators take advantage of increased takeaway and home delivery demand.
Due to changes in the hospitality sector, smaller retail spaces across Melbourne are being snapped up by operators with a particular attraction to those already fitted out, according to Fitzroys.
Since the state of emergency was declared, Fitzroy has secured 67 leases, 19 of which were to hospitality tenants.
Associate director James Lockwood said a number of these have taken place throughout Melbourne’s famous shopping strips.
A number of leases have been struck on extended terms, as the added attraction of retail strip properties is that they often attract rents from around $50,000 to $75,000.
CBD properties see leased at circa $100,000 per annum.
A number of deals have been secured in the last few weeks including deals on Rathdowne Street, Carlton and Commercial Road, South Yarra. 
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Smaller hospitality retail spaces across Melbourne are being snapped up by operators

Kevin Parker has bought a house at Yallingup that has a recording studio overlooking the Indian Ocean and the Leeuwin -Naturaliste National Park.&nbsp;

Parker, who writes, records, performs and produces Tame Impala, has paid $2.75 million for Wave House, which is where he recorded the band's ARIA-award-nominated debut album, Innerspeaker, and his 2015 follow-up Currents.

The home has been a music mecca since it was built by US music producer Ken Eichenberg in the 1980s.

Through the years its attracted the Beastie Boys, The Waifs and Fatboy Slim to its in-house music studio.

It had a&nbsp;for $3.7 million asking&nbsp;price&nbsp;in June

It was sold to Parker and&nbsp;his wife Sophie, who live in Fremantle, through&nbsp;Lee York&nbsp;of JHY Realty.

The main residence sits over three levels, including four bedrooms which sleep up to 12 people and a main living area. There are a further two bedrooms in a second residence.&nbsp;

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Wave House, Yallingup sold to Tame Impala's Kevin Parker

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A key takeaway from CoreLogic data amid the pandemic, is that transaction activity slows significantly in response to COVID-19 restrictions. The resulting loss of employment, lower consumer sentiment and border closures have had a much larger impact on the number of properties marketed and sold, than property prices themselves.  This was seen from the Stage 2 restrictions implemented from the 25th of March. New listings fell 50.3% from mid-March to early May. This exacerbated the seasonal dip in for sale listings throughout March and April. 
<img src="https://www.corelogic.com.au/sites/default/files/2020-08/rolling_28_day_count_of_new_for_sale_listings_national_aug2020.jpg" width="1028" height="539">
However, as Melbourne reached the halfway mark of its Stage 4 restrictions in late August, national listings activity has completely diverged from the usual listings patterns in the lead up to spring.  In the 4 years prior to the pandemic, the number of new properties listed for sale nationally has, on average, increased 6.3% between late July and late August. This year however, the equivalent period has seen a 9.6% decline in new listings nationally.   Unsurprisingly, this can be attributed to a sharp fall in new listings across Melbourne. The decline in new listings across Melbourne’s property market was 54.9% in the month to August 23rd, accounting for over 100% of the national decline.  Conversely, most other capital cities saw an increase in new listings, as greater levels of consumer confidence, and lower levels of COVID-19 cases, saw vendors ramping up for the spring selling season. Across Sydney however, new listings had also started to slip marginally. The severe drop-off in listings is validated by a fall in the number of comparative market analysis reports generated across CoreLogic platforms by real estate agents in Victoria. The average number of reports generated per week in Victoria fell 24.6% from July over the month of August to date. 
<img src="https://www.corelogic.com.au/sites/default/files/2020-08/rolling_28_day_count_of_new_for_sale_listings_melbourne.jpg" width="1034" height="526"><img src="https://www.corelogic.com.au/sites/default/files/2020-08/monthly_change_in_new_listings_count_to_23rd_august_2020.jpg" width="611" height="289">
<h4>Why do transactions slow in times of strict social distancing</h4>
The reasons for slowed transaction activity during COVID restrictions are two-fold. The first is the physical limitation of buying and selling property under social distancing rules. Property sales may be less scalable as fewer people can physically inspect, show and value property.   The second is the economic uncertainty generated by stage 4 lockdowns. As consumption falls and unemployment spikes, vendors feel less confident selling their property and getting their desired price. This is further supported by the close movement exhibited between sales volumes and the consumer sentiment index. Significant falls in monthly sales volumes have closely aligned with this indicator. 
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The drop in sales volumes in times of high economic uncertainty, such as around the GFC and the national Stage 2 restrictions in March and April, indicates sellers and buyers are less likely to participate in property transactions during negative economic shocks or periods of heightened uncertainty.  Additionally, a vital part of the tight lid on new listings has been mortgage repayment deferral offerings from banks. This has meant that people who cannot currently service their mortgage do not have to list as a distressed or motivated seller. This dynamic may change in the lead up to March, when banks may need to end repayment deferrals.  Property owners who have deferred their mortgages, but are not in a position to reinstate their repayments by the end of March, may decide to offload their property in the lead up to this expiry date. It’s reasonable to expect mortgage arrears will increase from currently low levels, which could gradually see a larger number of distressed listings come on the market.
The intention to sell and buy property is evidently linked to consumer confidence, which in turn has been influenced by case numbers of COVID-19, and the stringency of government response in impacting economic activity.  The initial restrictions through March and April saw a sharp drop in listings nationally, but these recovered quickly. A similar pattern was seen in sales volumes. The low cost of debt and strong recovery in consumer confidence created pent-up demand for property as Australia got ahead of the virus curve. This was perhaps one of the few ‘V-shaped’ recoveries observed amid the pandemic.  However, once restrictions are repealed in Melbourne this time around, the recovery in transaction activity is likely to be weaker.  That is because employment is taking another hit, consumer sentiment is dampened by the reality of a second outbreak of the virus, and a reduction in fiscal support is only a month away. Ultimately, the second round of restrictions across Victoria is likely to create a weaker ‘spring selling season’ than in previous years. 
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Spring real estate listings off to slow start: Core Logic's Eliza Owen 

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Danny Pavlovich, an entrepreneur and former elite bodybuilder, and his wife Suzie are set to emerge as the buyer of the iconic Dalkeith mansion once owned by late entrepreneur Alan Bond.

Their $27.5 million offer was accepted by its vendor, Sue Wyatt, who bought the property with her then-husband Steve for $39 million in 2011.

Pavlochich came to national attention when he was in the final stages of selling Nutrition Systems, a distributor of sport supplements &amp; nutritional products, to OBJ for $85 million late last year when COVID-19 hit and the deal fell through. 

Established in 1991, Nutrition Systems was one of the first companies in Australia to import health, wellness and sports nutritional products from the United States of America.

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Pavlovich, 51, has twice been a finalist in the EY Entrepreneur of the Year competition.

He also won the 2017 ICN World Natural Bodybuilding Championship. 

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The 6,405 sqm was subdivided in to six parcels, but sold in one line. 
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<div>Originally designed by renowned Perth architect Geoffrey Summerhayes and updated by Andrew Boughton, the 6406sqm estate is spread over six titles on a quiet cul-de-sac and takes in 270-degree views of the Swan River.</div>

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The iconic 3000sqm house is probably the most opulent property in WA, with six bedrooms, a 21-seat home theatre, a ballroom for 400 guests, a 10,000-bottle wine cellar, three luxury kitchens, 17 toilets, a gym, a billiards room, a sauna, a pool house, a children’s playroom, underground parking for 12 cars, a tennis court and a resort-style pool with swim-up bar.

The Pavlovich's will be moving from Nedlands where he only recently had a mansion built. 

It was sold by Bond's daughter Jody Fewster declined to confirm the sale price or the identity of the new owners.

“I don’t have any emotional attachment to the house other than a lot of memories of fantastic parties and [having] lots of friends over,” Ms Fewster said.

“It was so much fun for me to sell because it’s full of great memories – I got married on the tennis court and my husband proposed to me there."
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Danny Pavlovich and wife Suzie buy the iconic Alan Bond, Dalkeith mansion

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Melbourne today recorded a preliminary clearance rate of 38.7 per cent from the 30 reported results, with 45 auctions withdrawn. 
It is the lowest tally in living memory, with a marked deterioration of the weekend when there was a 45.3 percent success rate calculated in July.
The Domain figures see withdrawn auctions counted as unsold properties when calculating the clearance rate.
<img src="https://www.urban.com.au/images/2020/8/25/CL%20AUG%2031.JPG" alt="">
Most city agents have realised potential buyers weren’t keen to bid unless they could see the property, which is not possible during the stage four restrictions.
Across the small markets, Adelaide recorded a preliminary clearance rate of 83.9%, the highest of the smaller cities, Canberra followed with 75.9% of homes selling at auction over the week.
However sales included a Reservoir knockdown opportunity.
The unliveable home sold to a developer for $590,000 at 161 Henty Street.
It had been a squat.
Ray White Oakleigh agents Leigh Kelepouris and Anna Voon sold 28 Elora Road in Oakleigh South for $933,000, with more than 300 people watching the action online.
“The majority of buyers saw this as a development opportunity so based on that we decided to press on with the auction, even during Stage 4 restrictions.
“It was the right call as we ended up with nine registered bidders, six of whom were active, and it actually ended up being a local family that purchased the property."
It sold to a local plumber.
A two-bedroom Californian bungalow, marketed as a likely knockdown, at 8 Bright Street, Camberwell, was sold under the virtual hammer for $1,638,000 in an auction that went for over an hour.
It was marketed as "rent out for great cashflow while preparing for a significant renovation and extension or the construction of a magnificently new family residence on 625 sq m approx. (STCA)."
Down on the Mornington Peninsula agents are listing and selling properties they have never inspected.
In the past month Nicholas Lynch Real Estate has sold 11 houses to buyers that had only viewed them online.
Warlimont and Nutt Real Estate has sold three properties to buyers who had only seen them online.
Nicholas Lynch Real Estate managing director Nicholas Lynch said technology was allowing agents to list, market and sell properties without viewing them or meeting vendors and buyers “in the flesh”.
Lynch told the Herald Sun said the company had moved to Zoom property inspections where sellers take prospective buyers on a virtual tour of their homes via the conferencing app while agents narrate.
During stage three lockdown the walk troughs were filmed by agents.
But in stage four, vendors had taken over, joining an agent, buyer and Nicholas Lynch’s marketing manager on a four-way Zoom call.
The initiative had helped secure 11 sales including one to a San Francisco-based Aussie expat, who worked for Netflix.
Warlimont and Nutt director Trent Cameron said demand was high for Mornington Peninsula properties and searches for houses in the region had soared by 56 per cent compared to the same time last year.
Real Estate Buyers Agents Association president Cate Bakos warned against purchasing a property sight-unseen, saying a home “might look good in the video and photographs, but properties can feel very different in the flesh”.
On Friday Victoria’s chief health officer, Brett Sutton, says he doesn’t know if daily COVID-19 infection rates will fall enough in the next fortnight to end stage four restrictions.
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Melbourne auction clearance rate dips to 38 percent, but unliveable Reservoir squat sells at $590,000

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In the week that it launched No.17 William Street zoomed to the top of the realestate.com.au charts as the most viewed home in Tasmania.
Then over the past three weeks the circa 1900 cottage has piled up near 16,000 views on the property site — and counting. That’s a figure heading toward Tassie’s Top 10 most viewed of the year.
Property representative Brad Stephens from Devine Property said he had shown over 100 groups through the property and received over 50 email inquiries.
“It is such a unique little property … but the response, that has blown me away,” Brad said.
“And the consensus among my colleagues is that it’s among the worst they’ve seen. It fits that ‘worst house, best street’ moniker."
“Interestingly, the majority of interest we’ve had is from people who want to restore what is there. They want to rebuild it from the inside out and restore it to its former glory."
<div class="sc-pZzYQ sc-oTcDH gPJTIP"><img class="sc-qYHHM dyhwPj size-full wp-image-609617" src="https://www.realestate.com.au/blog/images/1280x720-fit,progressive/2020/08/27100901/capi_72e7cb2de240e8406d868844054a690c_2309f6b1e92f5f3fc6203f583a4ca5f6.jpeg" alt="" width="884" height="497" data-capiid="2309f6b1e92f5f3fc6203f583a4ca5f6"></div>
The 77sq m weatherboard cottage offers a two-bedroom single-bathroom floorplan.
There is a combined living and dining space, a kitchen and a separate outhouse.
Mr Stephens said while the property was not listed on the Tasmanian Heritage Register, he recommends prospective purchasers make their own inquiries prior to bidding at auction.
No.17 William Street, West Hobart is heading to auction on Saturday August 29 at noon.
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Why a West Hobart dump is a top viewed Tasmanian listing in 2020

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Orana, the largest masterplanned community in Melbourne’s south-east, has gone completely digital - selling 70 blocks of land totalling more than $19 million in sales, without a single person stepping foot in a display.
House and land packages start from $418,566, with land sizes from 221 sqm to 448 sqm available now.
Utilising digital contracts and an online deposit portal, the $1.3 billion development by Victorian developer Balcon Group launched sales after 10 years in the making; the site comprising eight individual landholdings acquired over a period of more than a decade and will one day be home to more than 12,000 people across 4000 lots.
The early success of the project has been buoyed by the developer’s exclusive $20,000 promotion for essential workers, which has seen 76 per cent of purchasers so far comprised of local healthcare workers, teachers, police officers, hospitality staff and other essential workers.
“We’ve had an incredibly positive response to the grant, with 45 lots selling to essential workers, making up an incredible 76 per cent of all purchasers to-date,” said Balcon Group general manager Jason Shaw.
“In what has been a challenging time for everyone recently, all of us at Balcon Group felt strongly about doing something to give back to essential workers within our community.
“At Orana, community is at the core of everything that we do and ultimately drives our vision for the project.”
The 274ha site includes more than 42ha of green, open space, comprised of six parks, sporting fields and three wetlands; the total green space is more than Melbourne’s Royal Botanic Gardens.
Already entrenched within the local community, more than half of all purchasers to-date are making the move from surrounding postcodes such as Cranbourne, Pakenham and Clyde North; 72 per cent of future residents will be first home buyers.
“Our intention with Orana is to provide a place for residents to live, play, exercise, socialise, and even work – with the future town centre and business park providing employment opportunities just a short commute from their front door,” said Jason.
Orana has attained a 6-Leaf EnviroDevelopment accreditation from the Urban Development Institute of Australia (UDIA), which acknowledges Orana’s excellence across six areas of sustainability: ecosystems, materials, waste, energy, water and community.
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“Balcon has six parks and waterways planned for Orana, as well as 10 kilometres of shared paths for cyclists, joggers and walkers – spaces for the whole community to engage, interact and explore,” said Jason.
At Orana, Balcon Group has also committed to the Urban Forest Program, a collaboration with City of Casey, to achieve 30 per cent tree canopy across the entire 274ha site, translating to thousands of newly planted trees.
 
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Land sales go digital as essential workers make up 60 per cent of Orana's public launch

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EG Australian Core Enhanced (ACE) Fund, has paid $38.2 million for an Ingleburn industrial investment.
It was sold by Bob Ell’s Leda Holdings, who paid $24.75m for 5 Williamson Road in 2017.
Based on the multi-let asset’s net passing $2,073,454 income,  the deal reflected a 5.4 per cent yield.
The 4.1 hectare site includes 18,514 sqm of lettable area.
The weighted average lease expiry is 3.8 years to packaging companies Austcor and SPS.
The purchase is the third for the open ended EG ACE fund which was launched last June.
It is anticipated to invest more than $800 million.
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Billionaire Bob Ell makes 50 plus percent on Ingleburn warehouse sale

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The second wave of COVID-19 has prompted ANZ to forecast Melbourne faces a 15 per cent fall in home prices by next year.
It is the largest peak-to-trough decline ANZ predicted for an Australian capital.
ANZ Bank has maintained its forecast for national house prices to fall by 10 per cent from peak to trough but now expects smaller falls in Hobart, Brisbane, Adelaide, Perth and Canberra.
While all those cities are set to fall between 6 and 9 per cent, the bank revised its forecast to a 15 per cent drop in Melbourne house prices, a dip greater than its previous prediction of a 13 per cent fall.
It still predicts a 13 per cent fall in Sydney, bottoming out in the second half of 2021. 
Darwin is expected by ANZ to stay in the doldrums, being down nine per cent.
The bank expects Hobart to fall by eight per cent) and Brisbane by six per cent.
The bank estimates Melbourne house and unit prices have already fallen by 2.2 per cent between March and July
It labelled the decrease “slightly more modest than we expected”, given government support payments like JobKeeper, superannuation withdrawals and deferred mortgage repayments helped the market/.
ANZ senior economist Cherelle Murphy said a dramatic decline in demand for housing had hurt both the sales and rental sectors.
“You’re going to have a greater unemployment problem in Melbourne simply because of the lockdown, (so) demand is going to be diminished,” she said.
With the Stage 4 lockdown in early August, Victoria’s economy is likely to have contracted further since.
In the three months to the end of June, the ANZ Stateometer showed Victoria’s economy deteriorated sharply, mainly due to weakness in the labour market and consumer sectors.
The ANZ believes Victoria's economy will contract 5 per cent or by more than $22 billion this year after a flat 2019-20. 
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Melbourne faces 15 percent price falls by 2021: ANZ

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<div class="lead-image media">Eraring's 7 Foreshore Street has been sold for $6 million McGrath Toukley agent Chris Smith.</div>
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<div class="lead-image media">The luxury home features six bedrooms, six bathrooms and a 14-car garage.</div>
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<a href="https://www.realestate.com.au/sold/property-house-nsw-eraring-133831498" target="_blank">Mandalay</a> sits on 6.75 acres on the peninsula.</div>
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There were six registered bidders, mainly out of Sydney, with a Sydney businessman securing the property for use as a weekender with 481 metres of waterfront reserve boundary.
It is 30 minutes via helicopter to Sydney airport.
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$6 million sale of a luxury waterfront Eraring estate on Lake Macquarie

<a href="https://www.apartments.com.au/developments/broadbeach-qld-4218">Broadbeach</a> offers plenty of reasons to live vertically, but moving from a substantial family home into an apartment can expose the compromises of high-density living. Privacy, room for guests and usable living space tend to matter more when an apartment is intended as a permanent home rather than an occasional coastal base.

A typical residential floor at <a href="https://www.apartments.com.au/new-apartments/the-eveleigh-broadbeach-7-9-surf-parade-broadbeach-qld-4218">The Eveleigh</a>, on Surf Parade,&nbsp;contains just four apartments. The 94-residence development by <a href="https://www.apartments.com.au/developers/hirsch-faigen">Hirsch &amp; Faigen</a> is predominantly made up of expansive three-bedroom homes, with a limited collection of half-floor penthouses above.

Across the apartment floors, <a href="https://www.apartments.com.au/architects/rothelowman">Rothelowman</a> has used the relatively limited number of residences to give each home greater access to natural light and outlook. Living spaces extend towards full-height glazing, while a series of bay windows frame selected views across the Pacific Ocean, city and hinterland rather than treating the building edge as a continuous wall of glass.

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“The apartment floors deliver a collection of homes that embrace controlled outlook via a series of bay windows deliberately framing moments of view,” Rothelowman Director Kim Lowman said.

From outside, those projecting forms contribute to the tower’s faceted profile. Strong horizontal and vertical elements establish its proportions, while the changing position of the sun alters the light, shadow and reflection across the façade throughout the day.

The same attention moves inside the apartments, where the material palette combines warm timber, natural stone, metallic detailing and softer curved forms. Kitchens sit within the main living zone, with stone island benches, integrated joinery and European appliances, before the living areas extend towards the glazing and the outlook.

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Three genuine bedrooms provide room to accommodate family and guests, while two secure car spaces and storage address some of the practical considerations that can become more noticeable when moving from a larger home. Feedback from the display suite has centred on the warmth and restraint of the interiors, with buyers commenting that the residences feel like homes rather than conventional coastal apartments.

A limited collection of half-floor penthouses occupies the upper levels, increasing the scale of the living spaces and adding private balconies and elevated finishes. From this position, the outlook extends between the ocean and hinterland.

Outside the private residences, The Eveleigh separates its shared spaces between the podium and rooftop. The podium is centred on wellness, with subtropical landscaping surrounding a swimming pool and pool terrace, yoga garden, private gymnasium, sauna and hot and cold plunge facilities. Landscaped retreats and pavilions provide additional places to sit away from the main recreation areas.

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Higher in the building, a rooftop pavilion and private dining suite sit alongside resident lounge, barbecue and outdoor dining areas, opening towards panoramic views across the ocean, city and hinterland.

“Buyers are no longer just looking for an apartment, but a lifestyle where they can relax, reset, and enjoy a balanced way of living,” Hirsch &amp; Faigen Director of Sales Matt George said.

Interest to date has come from established owner-occupiers and interstate lifestyle purchasers, including buyers planning a future move to the Gold Coast. Many are coming from larger homes and want to reduce ongoing maintenance without giving up space for family and guests, privacy, two car spaces or the ability to entertain at home.

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Much of that daily life can also take place beyond the building without requiring a drive. Kurrawa Beach and Pratten Park are an easy walk from Surf Parade, while Pacific Fair, Oracle Boulevard, The Oasis, restaurants, cafés, entertainment and public transport are also within walking distance.

The Eveleigh is Hirsch &amp; Faigen's fourth Gold Coast development since entering the market in 2021, following The Hemingway at Palm Beach, The Emerson at Kirra and Yves at Mermaid Beach. Each of the preceding projects sold out before completion.

“Broadbeach had been on our radar throughout our time operating on the Gold Coast,” the developer said. “Following our projects in Palm Beach, Kirra and Mermaid Beach, Broadbeach represented the natural next step for the business.”

The Surf Parade site brought together proximity to the beach, protected coastal outlooks and walkability to dining, shopping and recreation. Hirsch &amp; Faigen also identified the street as an emerging premium residential address, with enough separation from Broadbeach's busier destinations to retain a quieter environment at home.

The Eveleigh is now under construction by Maxcon, with completion forecast for mid-2028. Three-bedroom residences are currently available from $2.87 million.

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Joel Robinson

The Eveleigh brings house-like apartments to Broadbeach

A long-stalled Campbelltown development site is back in play, with new plans for 139 apartments set to supersede a mixed-use scheme approved almost a decade ago but never built.

The new proposal for 28 Cordeaux Street would deliver 116 market and 23 affordable apartments in a part 14-storey building, bringing a substantial new project into a Campbelltown market where new apartment supply remains limited.

Plans have been filed over the 3,092 sqm corner site at Moore-Oxley Street, around 600 metres from Campbelltown Railway Station and the city-centre retail core.

The site already carries a mixed-use residential approval dating to 2016. Doroch Architects has now been engaged on a larger replacement scheme, which is progressing as a State Significant Development Application following a Housing Delivery Authority determination in August 2025.

The apartment mix comprises 39 one-bedroom, 72 two-bedroom and 28 three-bedroom residences. Two-bedroom apartments make up just over half of the project, while three-bedroom homes account for 20 per cent.

<img alt="First look: New 139-apartment plans revive long-stalled Campbelltown city centre site" data-entity-type="file" data-entity-uuid="136dd5b9-3791-4da6-9e31-76f533f5b4de" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Campbelltown%20da2.png?VersionId=LgOSy9nwf5u.MGswBBwaGGxuX8QpHSl_" />

Of the 139 apartments, 23 will be delivered as affordable housing under the in-fill affordable housing provisions of the Housing SEPP. The affordable component represents 15 per cent of the residential gross floor area and will be managed by a registered Community Housing Provider.

Doroch has sought to break the scale of the building into two distinct elements, with a masonry podium of around four storeys establishing the street edge before the residential tower steps back above.

The corner position has shaped that approach. Cordeaux Street faces toward the commercial and civic centre, while Moore-Oxley Street leads into the lower-scale residential neighbourhood to the south, and the design verification report describes the site as "bridging the commercial core to the north and established residential areas to the south."

The podium will be expressed predominantly in face brick, while the upper levels shift to brushed and grooved concrete cladding with darker metal detailing. Recessed sections, deep balcony edges and landscaping break down the upper form, with an approximately 11.8-metre setback to the northern boundary addressing the adjoining St Peters Anglican School.

<img alt="First look: New 139-apartment plans revive long-stalled Campbelltown city centre site" data-entity-type="file" data-entity-uuid="c8b3d2d3-c561-4bfc-a5d9-a68c0c10dac1" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Campbelltown%20da1.png?VersionId=AeAEyJU02Gk2k5noUj2StziCvdQ7fW4B" />

Campbelltown has been starved of new residential developments in the last decade.

The only other notable development set to come to market this year is ALAND's Queen Square, a mixed-use precinct on over two hectares that will comprise apartments above a vibrant ground-level retail and hospitality dining precinct.

First look: New 139-apartment plans revive long-stalled Campbelltown city centre site

First Look: Sherlock Construction pitches apartments for low-rise Deception Bay

Queensland builder-developer MAYD has revealed the first look at its major North Kirra beachfront development, lodging amended plans that reduce the number of apartments and increase the proportion of larger residences.

The project is planned across a substantial 4,742 sqm amalgamated site spanning seven lots at <a href="https://www.apartments.com.au/new-apartments/2-6-pacific-parade-bilinga-qld-4225">2-6 Pacific Parade</a> and 27-33 Golden Four Drive in Bilin​ga, directly opposite Nor​th Kirra Beach.

<a href="https://www.apartments.com.au/developers/mayd-group">MAYD</a> secured the site for $32.5 million in 2025, in what was one of the Gold Coast's largest property transactions of the year.

The development will be delivered across two stages, with the first stage carrying an estimated gross realisation value of around $360 million.

The latest amendments seek to reduce the overall apartment count and shift the project further toward the owner-occupier market, with larger residences designed for buyers wanting considerably more space than traditionally offered in a beachfront apartment.

The residential mix will include townhomes, oversized two-bedroom apartments, substantial three-bedroom residences and four-bedroom homes.

MAYD has appointed Cera Stribley to lead the architecture and interiors, with the Melbourne-based design practice drawing on the beachfront setting through a series of ocean-facing terraces and heavily landscaped balconies.

Strong horizontal forms and curved balconies will define the exterior, with subtropical landscaping integrated throughout the building to soften the built form and increase the connection between the residences and the beachfront.

The project will also include an extensive collection of resident wellness and lifestyle facilities, continuing the broader shift across the Gold Coast's luxury apartment market toward larger homes supported by resort-style amenity.

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MAYD Founder Todd Mould said North Kirra was increasingly appealing to buyers attracted to the more established, lower-density character of the southern Gold Coast.

"North Kirra presents one of the most compelling luxury residential opportunities currently emerging in Australia, combining absolute beachfront with the character and authenticity that buyers are increasingly seeking, and the same sense of tight-knit community that defined Burleigh and Currumbin perhaps 10 or 15 years ago," Mould said.

"With Gold Coast Airport on its doorstep, it also offers a level of accessibility that broadens its appeal across almost every market demographic."

The project comes as the southern Gold Coast continues to attract an increasing share of high-end apartment development and buyer activity.

Kirra in particular has emerged as one of the region's more tightly held beachfront markets, with its relatively low-density character, established surf and hospitality scene and proximity to Gold Coast Airport differentiating it from the higher-density markets further north.

Mould said those characteristics had informed the approach MAYD and Cera Stribley had taken to the project.

"We've worked closely with Cera Stribley to create a vision that is deeply connected to its surroundings," he said.

"Inspired by the coastline itself, the architecture has been shaped around space, privacy and resort-style living, creating a collection of homes that reflects the next generation of luxury on the southern Gold Coast."

MOTIV Managing Director Carly Cottam, who has been appointed to market the project, said buyer attention had continued to move south along the Gold Coast.

"Purchasers who may once have defaulted to Broadbeach, Main Beach or Surfers Paradise are increasingly recognising the value of a genuine beachfront location that offers lower density, strong amenity and a more established sense of community," Cottam said.

"Kirra has a powerful combination of growing demand and genuine scarcity. Beachfront supply is inherently constrained, the area remains relatively low density, and buyers are increasingly placing a premium on locations that feel established, uncrowded and authentic rather than heavily developed."

Cottam said the proximity to Gold Coast Airport was also proving increasingly important for interstate and second-home buyers.

"Being minutes from Gold Coast Airport makes it particularly compelling for interstate buyers, frequent travellers and second-home purchasers who can access an authentic coastal lifestyle almost immediately after stepping off a flight."

The acquisition takes MAYD's active development portfolio to more than $500 million, with the North Kirra project representing one of its largest undertakings to date.

MAYD is targeting an early 2027 launch.

First look at MAYD's North Kirra mixed-use precinct

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Castle Hill, the longtime hub of the Hills District, has been one of the major beneficiaries of Sydney's Metro expansion, with improved connectivity helping drive continued population growth, development and buyer demand across the Hills District.

But despite that growth, the suburb has seen relatively few major new apartment projects brought to market over the past 18 months.

Hills District developer Reve Group is looking to fill that gap with <a href="https://www.apartments.com.au/new-apartments/nova-r-ve-castle-hill-2-garthowen-crescent-castle-hill-nsw-2154">Nova Rêve</a>, a major new mixed-use precinct on the corner of Garthowen Crescent and Old Castle Hill Road, a short walk from Castle Hill Metro Station and Castle Towers.

[smartcode_project:default project_id=152737 project_image_fid=377679]

The project will comprise three residential towers alongside a hotel, restaurants, cafes and a skybar, more than 1,600 sqm of ground-floor retail and almost an acre of landscaped gardens.

It represents the largest project undertaken by Reve Group, the development arm of the Kassis family, which has been building across the Hills District for more than 30 years through Kassis Homes.

[smartcode_project:default project_id=152737 project_image_fid=377675]

Nova Rêve also represents a significant step up from the family's first apartment development, Grand Rêve, which was delivered nearby on Garthowen Crescent.

Grand Rêve introduced larger, house-like apartment layouts and premium inclusions including Wolf and Sub-Zero appliances to the Castle Hill market.

Nova Rêve takes that approach to a precinct scale, combining the residential component with hospitality, retail and substantial public and resident landscaping.

[smartcode_project:default project_id=152737 project_image_fid=377685]

Reve Group Managing Director Sam Kassis said the project reflected the family's three decades of building in the Hills, which has evolved from trophy homes on quarter-acre blocks to larger-scale apartment development.

"Grand Rêve was our first apartment project here and it showed us what this pocket of Castle Hill could be. Nova Rêve is the refinement of that idea: not just apartments, but a place the whole suburb can use," Kassis said.

A key part of that approach is the hotel, which has been designed to operate as an amenity for the wider Castle Hill community rather than solely hotel guests.

It will include restaurants, cafes, skybars and all-day dining, alongside conference and event facilities catering to business functions, community groups and private events.

At ground level, more than 1,600 sqm of shops and cafes will open onto the surrounding streets and landscaped areas.

Almost an acre of gardens designed by Land and Form Studios will run through the precinct, incorporating pathways, seating, barbecue areas and children's play spaces.

[smartcode_project:default project_id=152737 project_image_fid=377680]

Reve Group's Romio Georges said creating an active ground plane had been central to the planning of Nova Rêve.

"There are gardens with pathways, barbecues, seating and play areas, shops and cafes opening onto the street, and a hotel with restaurants and a skybar that anyone in Castle Hill can walk into," Georges said.

The project's elevated position on one of Sydney's highest ridgelines will also provide apartments with outlooks toward the Sydney skyline, surrounding parkland and the Blue Mountains.

More than 80 per cent of the apartments will occupy corner positions, with Turner responsible for both the architecture and interiors.

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[smartcode_project_cta:default project_id=152737]

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