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Tim Gurner, the young rich lister who followed Bernard Salt’s lead and told young people to stop buying smashed avocado brunches so they could afford to be on the property ladder, has sold his Toorak trophy home.
<a href="https://www.realestate.com.au/sold/property-house-vic-toorak-126238618" target="_blank">Marshall White agent Marcus Chiminello</a> secured the sale five weeks after offers closed. Gurner and wife Aimee had expectations of $8.3 million to $9.1 million.
They have called the 1930s English-style, Christopher Doyle-designed six-bedroom house, which is in Aimee’s name, home since 2014 when it cost $5.3 million.
It is set on a 1204 square metres block with a separate guesthouse, lush gardens and heated pool and spa.
“When I was trying to buy my first home, I wasn’t buying smashed avocado for 19 bucks and four coffees at $4 each,” Gurner told Ross Greenwood on 60 Minutes earlier this year.
This article first appeared in The Weekend Australian.
 
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Young rich lister Tim Gurner secures smashing Toorak sale

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Brighton’s Blair Athol has been sold.
<a href="http://www.jpdixon.com.au/5-leslie-grove-brighton" target="_blank">Set on about 3400 square metres</a>, with pool, tennis court and bay views, it’s a property steeped in history.
No price has been revealed yet on the latest deal secured by the Beamish car dealership family, who paid $7.52 million in 2013, but the vendors of the Gothic-style mansion had prices hopes of $13 million.
Its previous owners include Craig Kimberley of Just Jeans fame who sold it to Tabcorp CEO Ross Wilson in 1994 for $2.95 million, soon after relocating to Melbourne from Adelaide.
Its modern kitchen, with Aga stove, was designed by Sue Carr. Blair Athol once featured in Architectural Digest.
This article first appeared in The Weekend Australian. 
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Brighton trophy home Blair Athol sold

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The plastic surgeon Darryl Hodgkinson and wife Katherine are set to emerge as the $5.3 million buyers of The White House in Paddington from broadcaster Phillip Adams.
It follows their $10 million Darling Point sale of the historic home, Newstead. 
Hodgkinson is also known as a passionate yachtsman having been named the Cruising Yacht Club of Australia's Ocean Racing Rookie of the Year in 2011.
<a href="https://www.realestate.com.au/sold/property-house-nsw-paddington-122453618" target="_blank">The iconic Paddington property,</a> commissioned by adman John Nankervis in the late 1980s, was designed by architect Peter Stronach, with its interiors designed and coloured by George Freedman with turquoise tiles, a yellow metal staircase and multi-coloured walls.
It was described in a Vogue Living feature on its completion in 1987 as designed with “an aversion to wimpish conservatism”.
Nankervis sold his flamboyant pad on the Woollahra border to fellow adman in 1990 for $960,000.
Adams, the long-serving Radio National presenter and his wife, former TV presenter turned organic farmer, Patrice Newell, are predominantly based at Elmswood, a Hunter Valley they bought in the late 1980s.
They also retain a Potts Point, Sydney bolthole.
This article first appeared in The Daily Telegraph. 
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Plastic surgeon Darryl Hodgkinson emerges as buyer of Paddington's The White House

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GUEST OBSERVER
The real estate industry has always had a love hate relationship with the portals. While it’s the portals that own the best audience for property buyers – and are therefore an important part of any vendor’s marketing spend – the charging models and sense of dependence has always irked agents. No-one likes being obliged to pay for a service you feel you have little control over. 
But the portals and the technology that drives them are now more than 15 years old. And over the past 3 years, the game they changed has started to change again. It’s possible the portals are about to be disrupted themselves.
Fifteen years ago, the idea that buyers could go to one place online to see every property on the market in any suburb you chose was absolutely revolutionary. Buyers no longer had to jump in the car and visit the suburb to check out local real estate agent shop windows or get hold of a local paper. All the information you needed was in one place, and you could look at it at whatever time suited you – 9am, 9pm, 2pm, 2am – on your desktop computer in the comfort of your office or living room and send a message of inquiry. It was a huge improvement in the old way of doing things, removing pain points and making property hunting faster and more convenient. 
But two new revolutions have occurred over roughly the past three to five years – the social revolution and the mobile revolution. The two are interconnected as the conversion of our mobile phones to mobile computers that are always on and always with us in turn enabled the social revolution with apps such as Facebook, Twitter, Instagram and Messenger, LinkedIn, Pinterest and WhatsApp to dominate our lives.
And it’s apps like Facebook that are likely to dramatically change the way we ‘do’ real estate again in the very near future. 
Facebook claims to be a company based on “human connection and bringing people together”, the recent REIQ Tech Day was told. Its mission is to “give people the power to build community and bring the world closer together”.
There are 2.01b people on Facebook every month and 1.32b on Facebook every day. Facebook is the eighth most-used feature on any mobile phone and in addition to the mothership, there are 1.2b on Whatsapp, 1.2b on Messenger and 700m people on Instagram each month – all part of the Facebook family. The only thing bigger than the Facebook community, the conference was told, is Christianity.
Facebook also has a second mission – to “democratise advertising” by making it easy and affordable for every business – especially small businesses – to reach customers by giving them access to the same tools that big business has traditionally dominated.
This is where the threat to the portals happens. 
Because Facebook is not really just a cool entertainment app that allows you to see photos of friends new babies, hashtag all the blessings in your life, rage against the latest political upset or message your husband with a virtual cat on your head (or is that just me and my guy?). Facebook is a major big data play. 
Every interaction we have with Facebook captures information about us as individuals – our likes, our passions, our friends, key events in our lives, our behaviour, how we feel, our recommendations, who our friends are and their likes, passions, events and behaviour. Every interaction builds up a more and more detailed picture of us individually which is what makes the Facebook advertising algorithms and their ability to target so powerful. We don’t really see or feel this. When the algorithm is doing its job, the result is simply more content that we’re genuinely interested in.
There is absolutely no need to ‘spray and pray’ your advertising as a business in Facebook. If your ideal customer is a 36 year old woman with two primary school age children who loves shoes and wine and drives a four wheel drive and works part time and who lives in a 3 bedroom house, you can find her and thousands like her and target your message exactly to her. Knowing this, if you’ve got a beautiful 4 bedroom house in her area with a walk-in wardrobe, wine cellar, great kid friendly outdoor area with a pool and large garage that would be perfect, you can easily target advertising directly to her (and her friends). 
It doesn’t matter that she’s not on Realestate.com.au or Domain.com.au looking yet. It doesn’t matter that she may not have thought (as far as you’re aware) that she should move up. You can plant the seed in her mind. You can show her what’s possible through Facebook targeted advertising and encourage her to move from a passive buyer (one who has not thought about buying or selling at all) to become a researcher or an active buyer or seller (one who decides that now is the time to act).
This is part one of the strengths that Facebook has over the portals; using it you can target people and move them into your contact funnel before they have even decided that moving is the right decision for them. You have the power to target and influence their behaviour. 
But it doesn’t stop there.
Part two of Facebook’s strength is only now starting to be witnessed. As Facebook’s ability to capture and process data about us accelerates at speeds that are truly mind blowing, its capability for predictive analytics becomes ridiculously powerful. Soon, Facebook won’t just be able to target people because they match a profile of someone who might be interested in buying, selling or renting because you select them. Soon, Facebook will be able to target people because their behaviour on Facebook and its associated apps, signal that they are actively engaging in behaviour that pre-empts buying, selling or renting behaviour in addition to their profile. This behaviour may include things like renovating, finding tradespeople, reaching out to real estate agents, buying paint or asking friends for real estate recommendations, – the possibilities and their combinations are endless. In such a scenario, you’ll get recommendations on who to target based on data that’s defining what they’re likely to do next, not options they’ve chosen, or things they’ve already done.
And that leads us to this new world order of being able to target people based on their profile, behaviour and a likelihood of intention much higher up the sales funnel, rather than waiting for a potential customer to go onto a real estate website and make an inquiry.  
Which leads to the question of why do you need a real estate portal – a special place to go to find a property to buy – if properties that need buying will serve themselves up to you just when you’re starting to think about the possibility of moving? 
In this new world, the power any real estate portal can wield diminishes and the value proposition to a portal customer is impacted. Why should I put so much of my advertising budget into reaching people who are actively in the market looking, when I can put the budget into Facebook and target both those who are actively looking, and those who are passive, but whose behaviour indicates that with the right property, they could change at any minute? No wonder the portals are worried. 
So how as a real estate agent do you get yourself ready for this next exciting stage? Here’s 4 things you can do:
<h3>1.    Get serious about social now</h3>
Social is no longer something the receptionist can do in her spare time, or have your teenage kids help you as a hobby. Make it someone’s job in your business to understand thoroughly how targeting works in social media, who your target audience is for the different types of properties you sell and services you offer, and set aside a small budget to start practising the best ways to reach them and the content that works. Upload your database to create a matching audience in Facebook.
<h3>2.    Learn about geo-targeting and targeting by property features</h3>
Kick it up a notch by learning about advanced topics such as geo targeting (X people matching Y description within Z km of my office) and targeting people by property features which you know are in demand, or which signal they may be interested in making the next move. ie: People in their 50s who have owned their properties for 20+ years may be ready to downsize, or be looking for an investment. Families in 2 bedroom apartments may be looking for 3 bedroom houses or larger apartments. Ask yourself, “If I was this person, what kind of information in my Facebook feed would I find interesting?” 
<h3>3.    Improve your content</h3>
Social media is about human relationships, community and helping – it’s about being useful, not boastful. And Facebook advise that your content needs to be striking, and get attention quickly – in the first three seconds, otherwise it is scrolled past. Evergreen content on how the property market works, tips for buyers and sellers and walking people through the process of moving are all ways you can connect with people while also establishing yourself as an expert who knows their stuff. A constant stream of properties for sale will only be appreciated by those who are actively looking (in which case they’re probably on a portal already) but an occasional inspirational property well targeted as part of a broader spectrum of useful content sends a more trustworthy message.
<h3>4.    Experiment with different content styles</h3>
Writing a post and sticking up a photo is the easiest way to post, but Facebook rewards those who innovate. Video, slideshows and Facebook Live are prioritised by the algorithm which means your message reaches more of the right people for less money. And don’t forget most people snack on social content while they’re doing something else, so all video should be captioned. No one sticks on earphones so they can listen to a 90 second video on the bus. Whatever you post, make sure you analyse its reach and engagement levels each time so you can work out what works best for your audience.
So if you’re one of those agents who rage against the portals, don’t despair, a change is coming. But it also means you’ll need to change your behaviour. Real estate is just one of the hundreds of consumer experiences that Facebook and the social universe is completely opening up  right now. There is plenty of opportunity for real estate agents who get stuck in and recognise the opportunity – but just like 15 years ago, fortune will favour the brave.
Kylie Davis is the head of content and property services marketing at CoreLogic
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Why the property portals are worried about Facebook: Kylie Davis

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GUEST OBSERVER
An innovative project designed to house people at risk of homelessness will soon deliver 57 transportable homes across nine sites in Melbourne’s inner west. Victorian Planning Minister Richard Wynne approved the social housing project on Ballarat Road last week. The proponent is Launch Housing, a Victoria-based community organisation that provides housing and homelessness support services.
The addition of 57 dwellings for vulnerable Melburnians is valuable in its own right, particularly given the rapid increase in the numbers of people sleeping rough in Melbourne. However, it is the potential for expanding the concept that makes the project so exciting.
I started researching this project and interviewing the key stakeholders earlier this year. Several elements embedded in the Ballarat Road project represent both innovative and scalable responses to Australia’s urgent social and affordable housing needs.
Elements of an innovative solution
Innovation rarely results in an entirely unprecedented idea, product or service. More often it recombines existing elements in novel ways to create a new solution.
In the Ballarat Road case, all the elements of the project already existed. It is the interaction between the involved partners, the design and construction techniques and the land leasing arrangements that make it so interesting.
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The project uses vacant land on Ballarat Road that would otherwise remain unused for several years. Schored Architects
The construction
Schored Architects designed the homes to a six star green rating. The units, designed for singles or couples, will be built in a factory before being transported to the sites.
<img src="https://images.theconversation.com/files/194071/original/file-20171109-13311-17xgpfr.jpg?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=237&amp;fit=clip" alt="">
Temporary transportable units are not new. In Amsterdam, the Keetwonnen project was developed in 2005 to provide 1,000 affordable, transportable units for students.
However, prefabrication and modular design is still embryonic in Australia. It accounts for about 3-5% of all new construction and housing.
The size of the industry constrains innovation, competition and variety. It also presents challenges in terms of managing projects. As one participant I spoke to explained: 
"The pre-fab world and modular design world is very much in its infancy … to the point where the prefab – there are no standards around documentation when you purchase a pre-fab home. So what you are using is existing architectural builder’s contracts rather than using something specific …"
It has the complications of ‘How is it transported? How is it stored? Does it meet Australian Building Code standards?’ It opens up that myriad of questions which the pre-fab world hasn’t answered yet.
The partnership
The project is the product of a collaboration between a community organisation, a government transport department (VicRoads) and a philanthropic donor. The connection, born of a series of serendipitous meetings and events, pulls together different resources and skill sets.
This kind of partnership is increasingly common as social housing moves towards a multi-provider system. Instead of a focus on government funded public housing, there is a greater reliance on partnerships between government, philanthropy, the not-for-profit sector and private industry. This requires commercial know-how and networking on the part of housing providers - the capacity to be a “pivot point”. As one participant from Launch Housing explained:
"Once people have locked in and engaged with an idea, they bring their own ideas. You don’t need to know what to ask for … And then it is about being an agency that has some kind of position or authority being a kind of pivot point for these offers and allowing things to happen. We are that."
The project is also significant because it attracted substantial philanthropic support. The Harris family contributed A$4 million and continue to advise on and support the project. For them, the capacity for scaling up the project is a significant factor in supporting it.
The land leasing
This project is an interesting case study because it leases VicRoads land. It is financially viable because the land is being leased at a “peppercorn rate” – a nominal fee to meet legal requirements.
VicRoads is willing to do this because the units are transportable. This means they can be moved to a new site when the land is eventually required for road expansion.
As one of the largest landowners in the state, VicRoads owns thousands of properties and vacant land parcels that have been acquired for future road widening.
A scalable solution
The project is scalable if key elements are assembled effectively: constructed dwellings, funding mechanisms, planning permissions and land.
The capacity to bolster existing factories or create new factories to build pre-fabricated homes exists. Evidence of demand and the success of this pilot project could help support that goal.
Housing projects designed to be affordable for very low-income individuals or households are not financially viable without significant subsidy. To scale up this solution would require government funding, another tranche of philanthropic donation, or a hybrid commercial and not-for-profit structure.
This project has undergone a fraught planning process. Maribyrnong City councillors unanimously supported the plan. But many members of the local community opposed the project, which the planning minister eventually “called in” for assessment.
Ongoing implementation of projects like this one may be supported by either better community engagement or fast-tracked planning processes for underutilised government land and social housing, as highlighted in the state government strategy, Homes for Victorians.
Various government departments, religious groups, philanthropic organisations and individuals manage significant land resources. Land is held vacant in anticipation of future needs, often sitting unused for decades.
<img src="https://counter.theconversation.com/content/86753/count.gif?distributor=republish-lightbox-basic" alt="The Conversation" width="1" height="1">Temporary dwellings could be an interim solution to urgent housing need and can be removed when land is required for other uses. This approach goes a long way to removing the barriers to use and could challenge how we think about vacant land in Australia.
Katrina Raynor, Postdoctoral Research Fellow, Transforming Housing Project, University of Melbourne
This article was originally published on <a href="http://theconversation.com" target="_blank">The Conversation</a>. Read the <a href="https://theconversation.com/portable-units-and-temporary-leases-free-up-vacant-land-for-urgent-housing-needs-86753" target="_blank">original article</a>.
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Portable units and temporary leases free up vacant land: Katrina Raynor

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GUEST OBSERVER
Queensland election campaigns often focus on big projects for the regions, such as for roads, power plants and mines. But research suggests that mega projects, such as in gas and coal, have not transformed skills or improved employment prospects in regional Queensland.
Take away the temporary booms from construction and other short-term jobs, and employment growth overall is no better than before the global financial crisis. Certainly Queensland’s regions are no more resilient. Instead of these mega projects, what’s needed are new sources of economic value in knowledge, services, and technology.
Between 2010 and 2013 investment in coal mining surged 400% in the Bowen Basin. Further south, in the Surat Basin and at Gladstone, four international consortia spent more than A$70 billion fast-tracking a coal seam and liquid natural gas industry.
These projects fell far short of generating new skills and enduring businesses in the regions. Continuing dependence on resources and agriculture also creates its own vulnerabilities, as both are challenged by market and investment volatility, and increased climate risk.
Overall the focus on mega projects has weakened social and economic resilience in communities across Queensland. Resilience refers to the capacity of regional communities to handle risks and manage change. Resilient regions deepen and diversify their economies.
Megaproject sugar highs
Annual construction spending in the resources sector peaked at A$36.6 billion in Queensland in 2013-14, and has dropped by 70% since. Unemployment has doubled in Queensland’s northern, central and outback regions.
The impact is seen in Townsville, Rockhampton, and Gladstone, who are now pitching to become bases for “Fly In Fly Out” workers. Rather than drive their own local economic development, these cities are punting on the next big mining project.
Gladstone is already the pin-up of the construction boom-bust development model. The port city boasts a highly trained workforce in alumina and aluminium processing, cement, liquid natural gas and chemical manufacturing. Still, it waits on the next big mining construction boom.
What regional Queensland really needs is politicians to abandon short-term economic fixes, in favour of a sustainable long term vision. Policies would have greater impact if they focused on skills and enterprise training. Stronger regional collaboration to broker opportunities for smart businesses is essential.
Just north of Brisbane, Moreton Regional Council is showing the way by transforming a former industrial site into a university campus. Tertiary education will come to the fast growing region along with a research and technology park, creating the jobs of the future.
Regional Queensland can also learn from the European Commission’s “smart specialisation” structural assistance programs that help regions build knowledge-based competitive industries through strategic public funding and support for research and development etc.
By 2020, smart specialisation in Europe is expected to deliver 15,000 new products to market, 140,000 new startups and 350,000 new jobs.
Integral to the European strategy is strong collaboration between the research and university sectors, and regional industries. Strong cooperation between levels of government is key to the success. The industries are as varied as cheese manufacturing in Spain, new transport systems in Finland, and materials manufacturing in France.
The Europeans have found that changing business culture and boosting entrepreneurship are just as important to creating opportunity as large infrastructure projects.
What Queensland should do
Queensland should rethink its big projects for a big country approach. Regional jobs that depend on project investment without generating local income are not sustainable. Small business and community must be restored to centre stage in development strategy.
Small and medium businesses collectively account for more than 99% of all business in Queensland, and three times as many people work in the state’s A$20 billion manufacturing sector (169,000) as work directly in the resources sector (48,000).
But small and medium businesses lack the profile of the “big end of town”, and the large resources companies have been effective at selling the narrative that they are central to the A$300 billion Queensland economy.
The priority for developing Queensland’s regions should be investment that generates small business growth, local income, new skills and communities. Particular emphasis has to be given to attracting and retaining talented people.
The state government can best help regional Queensland by heeding the Productivity Commission’s call to help regional Australia adapt and exploit the opportunities of ever present change. This requires greater local initiative, making the most of competitive strengths, and training people to better engage with the world.
The global services sector is a $US47 trillion industry. For regional Queensland to tap into this sector will require skills in fields as diverse as big data, biotechnology, genetics, robotics, communications, and digital manufacturing.
A good start has been made in the Advance Queensland Regional Innovation Programs which have challenged regions to think outside the box, collaborate, and come up with their own strategies. It complements the federal government’s Building Better Regions Fund.
<img src="https://counter.theconversation.com/content/86622/count.gif?distributor=republish-lightbox-basic" alt="The Conversation" width="1" height="1">This approach challenges the current politically dominated top down model of regional development. It’s a vision for regional Queensland that extends beyond resources, agriculture, tourism and construction to the people themselves.
John Cole, Executive Director, Institute for Resilient Regions, University of Southern Queensland.
This article was originally published on <a href="http://theconversation.com" target="_blank">The Conversation</a>. Read the <a href="https://theconversation.com/why-big-projects-like-the-adani-coal-mine-wont-transform-regional-queensland-86622" target="_blank">original article</a>.
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Why big projects like the Adani coal mine won't transform regional Queensland: John Cole

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The iconic Wentworth Memorial Church in Vaucluse, one of Sydney's most historic landmarks, has returned to the market.
It has been listed for December auction.
It sold mid-year at $5.6 million to funeral operator David Walker's Brookava Pty Ltd. <a id="propertySearchOwnerNameLink" href="https://rpp.rpdata.com/rpp/search/company/property/summary?&amp;view=property&amp;qt=company&amp;newSearch=true&amp;q=BROOKAVA%20PTY%20LTD" target="_blank"> </a>
The church, built in the 1960s as a memorial to the fallen soliders of the Second World War, sits on a near 2,000 sqm parcel that dates back to 1827.
It was part of the estate of noted colonial explorer, poet, journalist and politician William Wentworth and his family who developed the estate.
Worship ended at the church in 2006.
The heritage listed church on Fitzwilliam Road features loft interiors with ceiling height up to 40 feet at its peak.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/05/31/Church3.jpg" alt="">
The Wentworth Memorial Church is widely considered to be the finest surviving work in the Sydney School style of the important mid to late Twentieth Century architect Donald Gazzard.
Gazzard was the inaugural winner of the Wilkinson Prize for domestic architecture in 1961 for his Hunters Hill home and was regarded as a prominent figure in the field of architecture.
Gazzard, who worked on the Martin Place Pedestrian Precinct and Sydney University eletrical engineering building, now lives in Melbourne.
He had worked with Harry Seidler as a draftsman in the early 1950s. Well-known architect Richard Leplastrier helped Gazzard build the church.
The rocky outcrop where the church is now located was a favourite spot for Wentworth to view his estate and was also where he chose to be buried as evidenced by the Wentworth mausoleum on the opposite side of this outcrop.
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The property currently has two bedrooms and two toilets, but no full bathrooms.
Inquiries are set to come from builders and developers with a more commercial focus, as well as organisations and individual buyers.
In 2010 the church won its appeal in the NSW Land and Environment court to subdivide the land after the Woollahra Council rejected the application from the church.
Gazzard noted on his website that the unrealistically large size of the church, which has created the current situation, was always going to become an issue. 
"The Diocesan brief was simple;  'A church of contemporary design to seat 350 people which conformed to the liturgy and form of worship of the Church of England'.  
"The Anglican hierarchy based the size on two optimistic assumptions. 
"The first assumption was that tall blocks of flats would be permitted along the ridge at Vaucluse as Sydney expanded, and secondly, an unspoken assumption  that there would be a religious revival and a church of this size would be needed for all these extra people."
But as a consequence of an ageing and dwindling congregation, the church was closed, <a href="https://www.dongazzard.com/publications/articles/wentworth-memorial-church.aspx" target="_blank">he noted on his website.</a>
"While I'm proud of the design, I hesitate to suggest that you visit the church in its present sad state," he advised.
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Iconic Wentworth Memorial Church in Vaucluse returns to the market

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The US and UK are the most mature student housing markets, and continue to dominate global investment deals, but new stock developed now in Europe and Australia paves the way for institutional investment in the future, according to a recent Savills report.
<a href="https://www.propertyobserver.com.au/images/2017/11/10/SavillsNov15Chart.png" target="_blank">Click to enlarge</a>
<img src="https://www.urban.com.au/images/2017/11/10/SavillsNov15Chart.png" alt="">
Student Housing (SH) yields and sector comparisons:
<a href="https://www.propertyobserver.com.au/images/2017/11/15/SavillsSH.png" target="_blank">Click to enlarge</a>
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Yields 
The US market stands out as particularly high-yielding for such a mature market. We expect yields to move in as institutional involvement increases, the sector matures and perceived risk diminishes. Although they are less developed markets, there is also potential for further downward yield shift in Australia and Spain over coming years. Whether Germany, the UK and France are fully valued at 3.75%-4.5% will depend on how much scope there is for rental growth in their main university cities. The gap between residential and student housing yields remain, although we expect it to narrow. 
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Source: <a href="http://pdf.euro.savills.co.uk/global-research/world-student-housing-2017-18.pdf?utm_source=PropertyObserver&amp;utm_medium=DigitalAdvert&amp;utm_campaign=CPOeNewsletterBanner-WorldStudent-8Nov2017&amp;utm_source=Property+Observer+List&amp;utm_campaign=24caa627fb-Commercial_Property_27_September_2017&amp;utm_medium=email&amp;utm_term=0_a523fbfccb-24caa627fb-245615189" target="_blank">Savills World Research</a> 
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Australia leads in student housing yields: Savills

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Ocean Dunes, the golf course on King Island in Bass Strait, has been listed for sale.
Colliers International's Guy Wells and Comac Property Group's Paul Mason have been appointed to broker the Bass Strait property. Offers close December 6.
<a href="http://www.colliers.com.au/162029/" target="_blank">The golf course</a>, ranked fourth best in Australia by Golf Australia magazine, was developed by a group of Victorian-based investors and golfing enthusiasts.
The 18-hole course includes the King Island hotel. The 190-hectare property includes a site next to the course set aside for further development.
It comes with a permit to develop 21 motel suites.
The Cape Wickham Golf Course on King Island was bought by a Vietnam-based investor for $16 million earlier this year.
The Cape Wickham course was ranked the 24th best golf course in the world by Golf Digest in 2016.
It was put up for sale by Australian Ratings (now Standard &amp; Poor's Australia) founder, the property developer Duncan Andrews.
The buyer is a company called Cape Wickham Golf Links Pty Ltd, is wholly owned by Ekaterina Kolmakova from Hanoi in Vietnam.
The sole director of the company is Sydney-based Richard Nebauer, the Australian Financial Review noted recently.
Cape Wickham, which opened in October 2015, was a collaboration between US architect Mike DeVries and Australian golf writer Darius Oliver.
King Island, is a forty minute flight from Melbourne, set between Victoria and Tasmania.
It is renowned for its fresh produce and increasingly its world standard golf courses.
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Ocean Dunes golf course listed after earlier King Island sale

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Adelaide's landmark 1880 water tower offering certainly stood out among the weekend auctions.
The seven level Semaphore property had been been listed for sale by the Stibr family for the first time in four decades.
Set 14 kilometres north west of Adelaide, the water tower home is currently three bedrooms and two separate self-contained units.
The expansive top floor takes in 360 degree views over the whole of the city, beach and hills.
It sold for $1.2 million at weekend auction. <a href="https://www.realestate.com.au/property-house-sa-semaphore-126567366" target="_blank" rel="noopener noreferrer">The tower</a> (picture above) was knocked down to a Sydney insurance broker, Daniel Johnson and wife, Virginia who haven’t made any firm decision on what they will do with the property.
“We want to make it the amazing place it could be,’’ Mr Johnson said.
"It could be an art gallery with a restaurant. It could be accommodation," they told the Adelaide Advertiser.
Adelaide had a 65 percent success rate across its 126 auctions, virtually unchanged from the prior weekend's 64.1 percent across 129 auctions, and pretty much the same as this time last year.
But with the weakening in Sydney and to a lesser extent in Melbourne, Adelaide's weekend success rate sat third among the capitals, behind Canberra's 72.9 percent success rate with Melbourne in second place with 71.4 percent of its auctions finding buyers.
Adelaide had the nation's cheapest sale when <a href="https://www.realestate.com.au/property-house-sa-hackham-126682466" target="_blank" rel="noopener noreferrer">29 Grenache Road, Hackham</a> sold for $239,000.
The 1970s sandstone brick house was offered with $225,000 price guidance having last traded in 2000 at $85,000. It had been listed as a $295 a week rental earlier this year.
In Canberra, 125 auctions were held with prices ranging from $348,000 at Bruce to $1.73 million at Red Hill.
<a href="https://www.realestate.com.au/sold/property-unit-act-bruce-126777590" target="_blank" rel="noopener noreferrer">The low rise two bedroom Bruce apartment</a> was set in The Hub complex.
The Red Hill sale was a four bedroom renovated cottage on 1155 sqm at <a href="https://www.realestate.com.au/property-house-act-red+hill-126722730" target="_blank" rel="noopener noreferrer">246 La Perouse Street</a> that had traded at $985,000 in original 1960s condition.
There were 2,894 auctions held across the combined capital cities returning a preliminary national auction clearance rate of 66.5 per cent.
Clearance rates have continued to track below 70 per cent since June the year, CoreLogic's auction analyst Kevin Brogan noted.
Brisbane, with only 45.7 per cent of auctions cleared, was the weakest capital city. Its sale ranged between $295,000 at Woody Point and $1.1 million at Kedron.
<a href="https://www.realestate.com.au/property-house-qld-woody+point-126649278" target="_blank" rel="noopener noreferrer">The two bedroom 1960s Woody Point offering</a>, set 500 metres from the beach in the Redcliffe district, had sold at $200,000 in 2013.
The Kedron sale was a 2015-built five bedroom Amelia Lee-designed home at <a href="https://www.realestate.com.au/property-house-qld-kedron-126687578" target="_blank" rel="noopener noreferrer">18 Thirteenth Avenue</a>.
Melbourne's 71.4 per cent success rate was recorded across 1,299 auctions this week, down from last week’s final clearance rate of 74.3 per cent across just 318 auctions.
Melbourne's strongest clearance rate was recorded across the West region with an 82.2 per cent success rate across 189 auctions.
Melbourne had the nation's top sale when $6.4 million was paid for a Toorak offering through RT Edgar.
The likely knock-down at <a href="https://www.realestate.com.au/property-house-vic-toorak-126537138" target="_blank" rel="noopener noreferrer">22 Lansell Road</a> had $5.5 million to $6 million pre-auction price guidance.
It last sold at $160,000 in 1979 on its 600 sqm corner block.
Sydney returned a preliminary auction clearance rate of 64.4 per cent this week, rising from last week’s revised final 59.8 per cent result, while one year ago 81.4 per cent of Sydney homes taken to auction were successful.
Auction volumes decreased week-on-week, with 1,089 auctions held this week, down from the 1,232 held last week.
The Ryde sub-region of Sydney recorded the highest preliminary clearance rate this week, with 88.6 per cent of the 49 auctions held reporting as sold.
Sydney's cheapest sale was a one bedroom, one bathroom duplex villa at Bexley when $411,000 was paid for <a href="https://www.realestate.com.au/property-villa-nsw-bexley-126680462" target="_blank" rel="noopener noreferrer">2/15 Caledonian Street</a>. There had been $400,000 to $440,000 price guidance.  Offered previously as a $370 a week rental, it had traded in 2013 at $305,000.
It's LJ Hooker agent Vesna Apoleska marketed it as "the best buy in town."
Perth’s clearance rate of 61.9 per cent across 39 auctions was amongst its highest recorded this year. Over the same week last year, the Perth clearance rate was a lower 37.5 per cent, and 43 auctions were held.
Perth's top notified result was <a href="https://www.realestate.com.au/property-house-wa-victoria+park-126677750" target="_blank" rel="noopener noreferrer">$1 million at Victoria Park</a> when a four bedroom renovated house sold through Boston &amp; Co.
The late 1920s home had last sold at $965,000 in 2009.
"30 Mackie Street taps into the easy Western Australian way of life with seamless indoor outdoor living," the marketing advised.
"It's a healthy walk to the exciting new Perth Stadium," it also suggested.
</body></html>

Canberra towers over other capitals with late spring auction success rate

Article summary

<ul data-end="785" data-start="311">
	<li data-end="459" data-section-id="5hbcyr" data-start="311">Pikos Group has released the five-penthouse collection at Skye Kangaroo Point, headlined by a two-storey sky home spanning more than 1,000 sqm.</li>
	<li data-end="561" data-section-id="1p7lq8n" data-start="460">Early buyer interest suggests the residences could set a new Queensland apartment price record.</li>
	<li data-end="667" data-section-id="1y70z0l" data-start="562">The collection includes four move-in ready penthouses and the highly customised Skye One residence.</li>
	<li data-end="785" data-section-id="yvm0y1" data-start="668">The release caps one of Bri​sbane's most ambitious luxury apartment developments overlooking the Brisbane River.</li>
</ul>

<hr data-end="790" data-start="787" />
Pikos Group has released the five-penthouse collection at its <a href="https://www.apartments.com.au/buildings/skye-residences-by-pikos-kangaroo-point-8-river-terrace-kangaroo-point-qld-4169">Skye by Pikos</a> development in Kangaroo Point, with early buyer interest indicating the flagship residences could eclipse every apartment sale previously recorded in Queensland.

The collection crowns the luxury riverfront development with five residences, including four completed penthouses and Skye One, a two-level sky home spanning more than 1,000 sqm that will be tailored to its eventual owner.

[smartcode_project:default project_id=90059 project_image_fid=374075]

Wanting to offer a fully customisable home, Pikos is offering Skye One as a blank canvas, allowing the buyer to work alongside the developer's design team to customise the home's layout, finishes and internal spaces.

The residence will feature a 247 sqm private rooftop terrace with its own swimming pool, sauna, steam room, outdoor kitchen and multiple entertaining areas overlooking the Brisbane River and CBD skyline.

The remaining four penthouses have been completed and are ready for immediate occupation, each offering four bedrooms, expansive open-plan living areas, soaring ceilings and private lift access.

[smartcode_project:default project_id=90059 project_image_fid=374059]

One of the defining features throughout the project is its use of Roman Classic Travertine, with more than 20,000 sqm of the natural stone imported from Italy after being personally selected by Pikos Group Founder and Executive Director Pedro Pikos, interior designer Julie Williamson and third-generation stone specialist Mario Caucci.

Pikos said the penthouse collection represented the culmination of the company's long-term vision for Skye.

"True legacy isn't measured by what we build today, but by what endures tomorrow," Pikos said.

"Our ambition is to create places that become more valuable with time, enrich the lives of generations, and stand as timeless landmarks long after we've stepped away."

[smartcode_project:default project_id=90059 project_image_fid=374060]

Williamson said the interiors were inspired by the natural character of Kangaroo Point and the Brisbane River rather than international design trends.

"Materiality tells the story of a place," Williamson said.

"We looked to the movement of the Brisbane River, the texture of the cliff face and the warmth of the surrounding landscape to create interiors that feel understated, enduring and unmistakably Brisbane."

Positioned above the Kangaroo Point cliffs, Skye places residents within walking distance of Howard Smith Wharves, South Bank and James Street while offering uninterrupted river and city views.

[smartcode_project_cta:default project_id=90059]

Joel Robinson

Brisbane's next apartment price record? Pikos unveils Skye's exclusive penthouse collection

Article summary

<ul data-end="888" data-start="289">
	<li data-end="442" data-section-id="8tsh6o" data-start="289">DVB Projects is preparing to launch its second Gold Coast apartment development, with demolition now underway at 137 Old Burleigh Road, Broadbeach.</li>
	<li data-end="573" data-section-id="1nyxl3e" data-start="443">The 34-level tower will comprise just 49 ultra-luxury residences, including half-floor, full-floor and penthouse apartments.</li>
	<li data-end="717" data-section-id="oiyimj" data-start="574">The launch follows strong demand at DVB's nearby Sea Glass project, which is more than 50 per cent sold and currently under construction.</li>
	<li data-end="888" data-section-id="epk9o9" data-start="718">The development adds to the transformation of Old Burleigh Road, with premium beachfront apartment projects continuing to reshape the tightly held Broadbeach strip.</li>
</ul>

<a href="https://www.apartments.com.au/developers/dvb-projects">DVB Projects</a> is preparing to launch its second Gold Coast apartment development, with demolition now underway on the Broadbeach site as the Sydney developer moves closer to bringing the ultra-luxury project to market.

The 34-level tower at <a href="https://www.apartments.com.au/new-apartments/137-old-burleigh-road-broadbeach-qld-4218">137 Old Burleigh Road</a> will comprise just 49 residences, ranging from half-floor apartments through to full-floor homes and a penthouse. The launch follows the strong sales performance of DVB's nearby Sea Glass development. More than half of the apartments at Sea Glass, on the other side of Broadbeach, have been snapped up, well ahead of its late 2027 completion

<img alt="DVB Projects to commence demolition on $320m Broadbeach luxury tower" data-entity-type="file" data-entity-uuid="2944b4be-c84e-4b54-8dc1-c712e76704c0" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/E02_Exterior_Street%20Level%20Entrance.jpg?VersionId=YoNig7pRdrE3HCue7sUj78LzJteeQf3H" />

The start of demolition at 137 Old Burleigh Road signals DVB Projects’ underlying confidence in the Gold Coast’s luxury beachside apartment sector.

“We see the Gold Coast as one of the most compelling lifestyle markets in Australia, particularly at the premium end where demand continues to deepen,” said Dean Brown, Managing Director of DVB.&nbsp;

“This project has been carefully designed to respond to that demand - delivering large-format residences with a level of quality, privacy and amenity that is still relatively rare in the apartment market on the beachside."

Brown says the site itself is "exceptional."

"Old Burleigh Road is one of the most tightly held beachfront strips, and opportunities to deliver a project of this scale and calibre in this location are extremely limited.”

<img alt="DVB Projects to commence demolition on $320m Broadbeach luxury tower" data-entity-type="file" data-entity-uuid="398f377a-c037-455e-9250-0c5e0d84c35b" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/I12_FF%20Balcony.jpg?VersionId=NwOiRWGMubR1c8wthuEfggklcja7al9." />

The project will comprise 40 half-floor residences of approximately 260 sqm, alongside eight full-floor residences spanning around 524 sqm.

A single penthouse will crown the building, featuring a private pool, barbecue area, indoor gym and dedicated entertaining spaces.

Residents will have access to a resort-style suite of amenities, including a 20-metre pool with daybeds, a gymnasium, hot and cold plunge pools, a sauna, and private residents’ lounge and dining facilities.

<img alt="DVB Projects to commence demolition on $320m Broadbeach luxury tower" data-entity-type="file" data-entity-uuid="d1642bb0-9a66-4427-a022-dfc0988c6287" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/A02_Pool%20to%20View.jpg?VersionId=c0IXPyn_Gp_Kn3XCwzMrqIVkAdCEwVXP" />

Sales agent Todd Matheson, of <a href="https://www.apartments.com.au/project-marketer/pezet-matheson">Pezet Matheson</a>, which is marketing both 137 Old Burleigh Road and Sea Glass, said 137 Old Burleigh Road would address a clear gap in the market for genuine luxury products.

“There are very few opportunities on the Gold Coast where buyers can secure a residence of this size and quality in a new building,” Matheson said.

“What we’re seeing is a growing cohort of downsizers and interstate buyers who still want space - they’re not willing to compromise on living area, entertaining or finishes.

“This project has been designed with that buyer in mind. It offers the scale of a home, combined with the convenience and security of apartment living, in one of the coast’s most desirable positions.”

<img alt="DVB Projects to commence demolition on $320m Broadbeach luxury tower" data-entity-type="file" data-entity-uuid="59aae0ca-5639-4320-8aca-d0bf60f48e43" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/E01_Exterior%20Hero.jpg?VersionId=DS8Zfy2WtgUEtdfe0TEUuf1W1GfcZq8S" />

Located on a 1,156 sqm site one block from the beachfront, the development will replace an ageing walk-up building and is expected to contribute to the ongoing transformation of the Old Burleigh Road strip into one of the Gold Coast’s most prestigious residential corridors.

With the development moving into the delivery phase, 137 Old Burleigh Road is slated to hit the market later this year.

[smartcode_project_cta:default project_id=145141]

DVB Projects to launch second Broadbeach apartment tower as demolition commences

A proposal to redevelop one of North Sydney's ageing commercial buildings has taken another step forward, with plans for a 38-storey mixed-use tower adding momentum to the long-awaited transformation of the Alfred Street precinct.

Now on public exhibition through the NSW Government's Housing Delivery Authority-led State Significant Development pathway, the proposal for 271-273 Alfred Street would replace an underutilised commercial building with 95 apartments, ground-floor retail, commercial space and affordable housing. The proposal was submitted by&nbsp;Tara Shore Pty Ltd, acting for the John Taylor Family Trust.

While the project will deliver much-needed housing on the southern edge of the North Sydney CBD, it also represents another piece of a broader precinct that has spent years in planning limbo.

<img alt="First look: New public domain vision underpins 95-apartment North Sydney tower on Alfred Street" data-entity-type="file" data-entity-uuid="7e1ce1b4-38df-48ab-992f-386814d86308" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Alfred%20St%20da%20podium.png?VersionId=sC_h6w.A9VEoB98qsqowPlIoz__sBZBt" />

Despite its proximity to both North Sydney Station and the Victoria Cross Metro, redevelopment of Alfred Street has progressed slowly over the past decade as broader planning controls, zoning and building heights remained unresolved. The introduction of the Housing Delivery Authority pathway has provided a new avenue for projects to progress, allowing rezoning and development assessment to occur concurrently and unlocking sites that have long been earmarked for renewal.

Designed by Office of Cortese &amp; Gilder, the proposal seeks to do more than replace an ageing office building. The architects have positioned the project as the first stage of a wider public domain vision that would improve pedestrian connectivity and create a more cohesive mixed-use precinct as neighbouring sites are redeveloped over time.

The proposal includes a widened Alfred Street setback, new street trees, landscaping and outdoor seating, along with a landscaped through-site pedestrian link connecting Alfred Street with Little Alfred Street. The connection is intended to become the first section of a future east-west pedestrian network extending across the precinct.

<img alt="First look: New public domain vision underpins 95-apartment North Sydney tower on Alfred Street" data-entity-type="file" data-entity-uuid="8ea39ac3-46ad-4562-b4a0-b862e91c2dda" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Alfred%20St%20da%20site.png?VersionId=K7umCd21KpetEFuVfsPlnJKhUOsmTTdV" />

The mixed-use tower would comprise retail space at ground level, commercial uses on level two and apartments from level three upwards.

In total, the development would deliver 95 apartments, including nine one-bedroom, 28 two-bedroom, 56 three-bedroom and two four-bedroom residences. Twenty-one apartments, representing 15 per cent of the residential gross floor area, would be secured as affordable housing and managed by a registered community housing provider for at least 15 years.

Nine basement levels would provide 133 resident car spaces, seven motorcycle spaces and 111 bicycle spaces.

According to the Architecture and Urban Design Report, the public domain strategy is designed to transform what is currently an inward-facing commercial edge into a more active and connected pedestrian environment, creating a stronger relationship between the commercial core and surrounding residential neighbourhoods.

Office of Cortese &amp; Gilder has also prepared a broader public domain framework spanning neighbouring properties between 263 and 283 Alfred Street, arguing that a coordinated approach to redevelopment will deliver better public spaces, improved tower separation and a more connected streetscape as the precinct evolves.

The proposal comes at a time where North Sydney is slated for future residential growth. Commercial developer FiveX has residential plans for the neighbouring site at 275 Alfred Street. They've proposed a 39-storey mixed-use tower with 184 apartments, while Freecity was recently approved for nearly 300 apartments across a 51-storey building on Walker Street.

Read more:&nbsp;<a href="https://www.apartments.com.au/news/nsw/first-look-freecity-gets-green-light-for-mixed-use-apartment-and-hotel-tower-in-north-sydney">First look: Freecity gets green light for mixed-use apartment and hotel tower in North Sydney</a>

Read more:&nbsp;<a href="https://www.apartments.com.au/news/nsw/first-look-fivex-plans-39-storey-residential-tower-in-booming-north-sydney">First look: Fivex plans 39-storey residential tower in booming North Sydney</a>

&nbsp;

Alfred Street the latest North Sydney pocket to be transformed by residential development

Buyers considering a residence at boutique Gordon townhouse development <a href="https://www.apartments.com.au/new-townhouses/lume-gordon-43-47-dumaresq-street-gordon-nsw-2072">Lume</a>&nbsp;now have another reason to bring forward their decision.

For a limited time, purchasers of a residence at Lume will receive a BMW iX3 50 electric SUV, valued at more than $120,000, as part of their purchase. The offer is designed to add value for buyers while complementing the lifestyle envisioned for the architecturally designed Upper North Shore development.

Scott Timmins, Development Manager at <a href="https://www.apartments.com.au/developers/winim">WINIM</a>, said the partnership was created to provide buyers with a compelling reason to act.

"In today's market, buyers need a compelling reason to act now, and the BMW partnership was designed to create that catalyst. We wanted to add genuine value for our future purchasers. Choosing the all-electric BMW iX3 50 also reflects the values behind LUME, forward-thinking design, innovation and a more sustainable way of living. It's a premium incentive that complements the lifestyle our buyers aspire to and rewards those who commit early."

[smartcode_project:default project_id=7354 project_image_fid=374893]

Delivered by WINIM in partnership with Burtonwood Investment Partners, Lume comprises 14 architecturally designed two, three and four-bedroom townhomes created for families seeking the space of a freestanding house with the ease of modern, low-maintenance living.

The three-storey residences, designed by award-winning architecture practice <a href="https://www.apartments.com.au/architects/rothelowman">Rothelowman</a>, have been tailored for families and multi-generational living, featuring private internal lifts, flexible lower-level spaces, generous open-plan living and entertaining areas, media rooms, and landscaped outdoor spaces with custom outdoor kitchens.&nbsp;

Inside, engineered oak flooring, bespoke dining joinery with integrated wine fridges and backlit bars, sculptural porcelain bathrooms, Parisi freestanding baths and Astra Walker tapware create interiors that balance functionality with refined finishes.

Each townhome has been designed to combine generous internal spaces with sustainability initiatives such as EV charging infrastructure, while <a href="https://www.apartments.com.au/landscape-architect/arcadia-landscape-architecture">Arcadia</a>'s landscaped communal areas, centred around a restored creek line and native planting, encourage residents to connect with nature and spend more time outdoors.

[smartcode_project:default project_id=7354 project_image_fid=269527]

Rothelowman's Gary Tsui said the architecture was conceived to respond carefully to its Upper North Shore setting.

"Our vision was to create elegant, uplifting homes that draw on and positively contribute to the local character through meticulously considered design and an interaction with the surroundings."

The communal landscape has been designed as more than an open space between homes. Arcadia's Ben Newell and Kate Phillips said the adjoining reserve provided an opportunity to create a distinctive natural retreat for residents.

"Just as waterways carve their way through Ku-ring-gai's landscape, a raised boardwalk weaves through the reserve, connecting the homes to this tranquil oasis."

[smartcode_project:default project_id=7354 project_image_fid=374892]

Located just 300 metres from <a href="https://www.apartments.com.au/developments/gordon-nsw-2072">Gordon</a> Village and Gordon railway station, Lume offers convenient access to Sydney's CBD while placing residents close to some of the North Shore's leading schools, including Ravenswood, Pymble Ladies' College and Knox Grammar. Lane Cove National Park, Gordon Golf Club and a range of cafés and restaurants further reinforce the family-focused lifestyle on offer, with the BMW iX3 50 complementing everything from local trips around Gordon to weekend drives and city commutes.

Construction is underway with completion expected in mid-2027.

[smartcode_project_cta:default project_id=7354]

Boutique Gordon townhomes now come with a BMW iX3 50

Two apartments have sold for more than $10 million at EADE Byron Bay, setting some of the highest apartment prices ever achieved in the coastal town and underlining the growing appetite for luxury beachfront apartments in Australia's most popular coastal locations.

The $210 million project by Vitale Property Group has now secured more than $70 million in sales, led by residences that changed hands for $12.75 million and $11.75 million.

The record-breaking transactions reinforce the shift occurring in Byron Bay's premium property market, where affluent downsizers and lifestyle buyers are increasingly opting for high-end apartments over large beachfront homes.

<a href="https://www.apartments.com.au/new-apartments/eade-byron-bay-29-shirley-street-byron-bay-nsw-2481">EADE Byron Bay</a> occupies a rare 6,000 sqm absolute beachfront site on the corner of Shirley and Milton Streets overlooking Main Beach and The Wreck surf break, just 350 metres from Byron Bay's town centre.

The 25-residence development is the first beachfront apartment project approved in Byron Bay in more than a decade and is currently under construction, with completion expected in May 2027.

[smartcode_project:default project_id=145590 project_image_fid=359521]

The project has attracted a mix of local Byron Shire residents downsizing from larger homes, alongside interstate buyers from Sydney, Melbourne and Brisbane seeking a permanent coastal lifestyle without compromising on space.

Designed by <a href="https://www.apartments.com.au/architects/hayball">Hayball</a> and with interiors by <a href="https://www.apartments.com.au/interior-designers/alexander-co">Alexander &amp; Co</a>, EADE comprises&nbsp;10 garden apartments ranging from 284 sqm to 622 sqm, nine with private pools, five full-floor apartments and 10 rooftop residences with private plunge pools, expansive outdoor entertaining areas and uninterrupted ocean views.

[smartcode_project:default project_id=145590 project_image_fid=359527]

<a href="https://www.apartments.com.au/developers/vitale-property-group">Vitale Property Group</a> Managing Partner Chris Vitale said the project's combination of scale, location and limited future supply was driving buyer demand.

"There isn't another beachfront holding in Byron Bay of this size and position that could be developed again," Vitale said.

"Buyers are responding to the scarcity and the irreplaceability of a site of this calibre and to floorplans they can't find elsewhere in the market.

"We are seeing buyers place significant value on quality, space, design, resort-style amenities and the rarity of the location. The sales achieved to date demonstrate that discerning purchasers recognise the long-term significance of what is being created at EADE Byron Bay.

"Many are coming from larger homes in the Byron region, or from Sydney, Melbourne and Brisbane, and are after the space, security and convenience, without the upkeep of a house."

&nbsp;

[smartcode_project:default project_id=145590 project_image_fid=359523]

The Byron Bay project follows Vitale Property Group's delivery of the Mondrian Hotel and Private Residences at Burleigh Heads, with EADE continuing the developer's focus on luxury coastal developments.

Residents will have access to a resort-style swimming pool, gymnasium, sauna, cold plunge pool, concierge services and dedicated workspaces, while the project is targeting an 8-Star Green Star rating.

EADE Byron Bay is being exclusively marketed by Projx Australia in conjunction with WHITEFOX Projects.

WHITEFOX National Projects Director Phillip Rand said demand had been driven predominantly by owner-occupiers.

"We are seeing buyers at EADE place significant value on quality, space, design, resort-style amenities and the rarity of this location," Rand says.

"The sales achieved to date demonstrate that purchasers at this level recognise the long-term significance of what is being created at EADE Byron Bay."

Residences at EADE Byron Bay are currently priced between $4.75 million and $15.95 million.

&nbsp;

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[smartcode_project_cta:default project_id=145590]

Staff reporter

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