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A commercial building with potential for development located in Melbourne inner suburb Richmond is going to auction with expectations of more than $1.2 million.
The <a href="https://www.realcommercial.com.au/property-retail-vic-richmond-502537226" target="_blank">221 Swan Street</a> property is within walking distance of East Richmond Railway Station and within 3 kilometres of the CBD.
It will be auctioned on September 27 through Teska Carson.
The 209 sqm site is zoned Commercial 1 under the City of Yarra Planning Scheme.
The Commercial 1 Zone promotes mixed use commercial centres for retail, office, business, entertainment and community uses, as well as residential uses at densities complementary to the role and scale of the commercial centre.
Improvements include a single level retail/workshop/showroom building.
<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/2017/09/04/TeskaCarsonMel.jpg" alt="">
According to marketing agents, Teska Carson’s Tom Maule and Larry Takis, the property can suit both an owner-occupier or investor, but it may be of most interest to developers looking at its considerable potential for a mixed use development subject to council approval.
"There is very strong demand for any property with development potential in the inner suburbs and especially those with main street frontage and Commercial 1 zoning,” Maule said.
He said the land was located within the City of Yarra’s Swan Street Structure Plan which identified Swan Street East as a major activity centre.
The property will be sold with vacant possession.
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j.ballantyne1990-6AQqhLzZaK

Richmond site with development potential to go under the hammer

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A historic building on Melbourne's Queen Street has been listed for auction.  
Located at <a href="https://www.realcommercial.com.au/property-offices-vic-melbourne-502505566">375 Queen Street</a>, the property was built in 1860 and was occupied earlier by the Bank of NSW.
It last changed hands for $1,840,000 in 2013, according to Corelogic RP Data. It is expected to fetch under $3 million.
The building was in the news in 2009 when the council shut down the Rajah Sahib Tavern restaurant which was occupying the site, Fairfax Media reported.
Rajah Sahib Tavern was controlled by immigration agent Larry Mendonca. In 2013, his former girlfriend and landlord of 375 Queen Street – the property for sale – was trying to evict Mendonca from using office space in the building.
Prior to that, rock singers Mick Jagger and Elton John visited the building when another restaurant was being run on the premises.
The building features a façade with a dual street frontage of 20 metres.
The property has direct access to the Melbourne CBD and is close to Flagstaff Gardens and public transport.
The double storey, corner building is currently vacant and is ideal as an office headquarters, hospitality or luxury residence, according to its description.
It is set to benefit from the $250 million renewal of the QVM opposite the property.
The property will be auctioned on September 13 and is being offered through Colliers International agents Oliver Hay, Daniel Wolman and David Sia and Knight Frank agents George Burbury and Andrew Hansen.
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Historic commercial Melbourne building listed for auction

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Governments are busily rezoning our cities for high-rise apartments. The New South Wales government, for example, plans to rezone a 20-kilometre corridor in Sydney, from Sydenham to Bankstown, for urban density, in concert with a new metro rail line. Residents and community groups have reacted vociferously to the prospects of high-rise buildings in previously low-density suburbs.
But there is another, overlooked dimension to the redevelopment. Much of it is on industrial land: pockets of old factories and workshops, portrayed as decrepit and in need of renewal.
Our new project documents enterprises that actually use urban industrial lands. It’s a story of surprising and largely hidden vibrancy at the interface between creative industries and small manufacturing.
Planners and economic developers tend to assume manufacturing has left central cities and that manufacturing enterprises can simply locate to city-fringe greenfield sites. In reality, manufacturing is changing form, and often depends on – and benefits from – urban industrial lands.
Despite the scale of renewal plans, no detailed knowledge exists of what will be lost, or of existing enterprises’ needs.
Manufacturing has a new, creative face
In planning reports for renewal strategies, industrial zones are seen as redundant because it’s assumed that manufacturing is in a state of inevitable decline. This is false and misleading.
Employment, exports, enterprise formation and R&amp;D investment statistics all point to manufacturing’s endurance, as well as its transformation and increasingly diverse character.
Most manufacturers these days are small, agile and creative. Manufacturing is increasingly interwoven with creative industries, through innovation-driven additive manufacturing, craft-based production, and bespoke maker scenes.
Cities such as New York and Portland are actively planning for this, because they recognise that the creative-manufacturing interface generates jobs, assists place marketing, contributes to liveability and enlivens local communities.
Creative-manufacturing favours older industrial sites
There is, however, a planning dilemma cities must face. Enterprises at the interface tend to locate in inner-city industrial zones. This is where other relevant enterprises are co-located and buildings are more suitable, often older and lower rent, with limited restrictions on noise.
Like-minded micro-enterprises sub-let workshops or pods within older factory complexes. They cannot afford commercial rents in stand-alone buildings. Older industrial zones also provide access to distribution and business networks, cultural venues and institutions, and final markets.
These are the very zones favoured for major “renewal” schemes. In practically every case, this means medium- and high-rise apartments. Retail space is provided, typically at ground-floor level (which often sits vacant for months or years).
Ironically, the presence of creative industries helps sell real estate. But such renewal schemes rarely, if ever, provide replacement workshop space zoned for industrial uses.
Carrington Rd, an unassuming creative-manufacturing hub
Our new report documents enterprises in one such industrial precinct in Marrickville, inner Sydney, that’s slated for redevelopment. A single 700-metre-long stretch of Carrington Road is home to more than 200 diverse micro-enterprises and small manufacturers.
These have strong local ties, employing an estimated 1,800 workers. Fifteen discrete enterprise clusters thrive there. These include theatre production, puppet and prop-making, furniture restoration, fashion and textiles.
What underpins this pre-eminent creative-manufacturing interface precinct? It’s a combination of affordability, sympathetic landlords, industrial land use zoning, and a mix of small and large factory spaces with suitable features.
Proximity to the CBD, media corporations, major entertainment venues and iconic cultural institutions is vital. That’s because these firms supply stage sets, install event equipment, rent studios for photography, television and film shoots, and perform at corporate functions.
The social and cultural milieu of surrounding areas is also crucial. These areas generate nearby markets for locally made fashion, jewellery and ceramics.
No consultation on a looming loss for the city
Shockingly, enterprises in industrial zones potentially affected by this latest renewal strategy are not being consulted before rezoning.
NSW Planning and Environment commissioned a consultancy firm to investigate employment impacts of proposed redevelopments throughout the Sydenham-Bankstown corridor. The report was a desktop study. Detailed site inspections “were not undertaken nor interviews or consultation with businesses in the Opportunity Sites”.
When we visited Marrickville’s creative-manufacturing enterprises, it became clear none had been consulted about the details of renewal plans for the precinct. They were unaware the closing date for public submissions was imminent.
Creative micro-enterprises and small manufacturers reported that city fringe relocation is not feasible. Rezoning this industrial space, one of inner Sydney’s last, may force enterprises to close altogether. Others said they would move overseas.
The loss for Sydney could be tragic. As one artisan said: "If all the people who worked on this street worked in one company and were sacked, it’d be national headlines."
Similar processes are under way in Melbourne’s inner north, an iconic part of that city’s cultural profile. Rezoning in the name of urban density has given a green light to the conversion of old light industrial buildings into residential developments.
So, just as Creative Victoria establishes a Collingwood Arts Precinct to host creative practitioners, tenants next door have been evicted to make way for a 12-storey apartment block. The developer has now objected to the potential noise from local venues.
Learning from other global cities
Our project’s next phase is to explore how other global cities foster creative and manufacturing enterprises.
Chicago has planned manufacturing districts and Portland, Oregon, has industrial sanctuaries. These are long-standing and successful examples of industrial land preservation. The German zoning system has also long mixed “non-disturbing” industry with other uses.
San Francisco’s production, distribution and repair (PDR) zone attempts to accommodate the growth of small manufacturers. New, higher-rent office development cross-subsidises lower-rent industrial space. Austin, Boston, Los Angeles and Nashville in the US and Vancouver, Canada, are pursuing similar policies.
In China, Shenzhen, the 21st-century “workshop of the world”, is looking to the “creative economy” not to replace but to enhance Chinese manufacturing prowess.
While growing cities like Sydney clearly need to plan for housing, another conversation in our cities is needed, not just about high-rise redevelopments, but about what’s at stake when industrial lands are rezoned.
Chris Gibson, University of Wollongong; Alexandra Crosby, University of Technology Sydney; Carl Grodach, Queensland University of Technology; Craig Lyons, University of Wollongong; Justin O'Connor, Monash University; Xin Gu, Monash University 
The discussion appeared in <a href="https://theconversation.com/can-our-cities-thriving-creative-precincts-be-saved-from-renewal-83042?utm_medium=email&amp;utm_campaign=Latest%20from%20The%20Conversation%20for%20August%2030%202017%20-%2081866652&amp;utm_content=Latest%20from%20The%20Conversation%20for%20August%2030%202017%20-%2081866652+CID_a8078e42d468edbf1d13a3574d52dfb3&amp;utm_source=campaign_monitor&amp;utm_term=Can%20our%20cities%20thriving%20creative%20precincts%20be%20saved%20from%20renewal" target="_blank">The Conversation</a>.
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Can our cities’ thriving creative precincts be saved from ‘renewal’?

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Heritage Bank, the nation's second largest mutual, will stop offering property investment loans amid fears it is close to the regulatory speed limit on lending growth set by APRA.
after recent attractive offers attracted a deluge of borrowers.
It follows the decision of CUA, the nation's largest mutual, to stop writing new loans for property investors because demand is so strong.
The combined lenders have about $17.5 billion of assets and account for about 1.5 per cent of the total property lending market.
Their withdrawal from the market highlights continued strength of buyer demand in Melbourne and Sydney at the beginning of peak Spring sales and the inherent disadvantage on smaller lenders of a blanket 10 per cent cap.
Major banks, which because of their size can write much more loans and comfortably remain within limits, are cutting rates, waiving fees and offering lucrative promotional packages.
It also means that other lenders offering investment loans will come under greater pressure to remain within the caps from borrowers chasing the best deals.
Heritage Bank said it will "temporarily stop" accepting new applications for investment loans to ensure it remains "comfortably" within Australian Prudential Regulation Authority limits.
Under the restraints, which are intended to cool demand and direct buyers away from riskier interest-only loans, investor lending growth must remain under 10 per cent and interest-only loans can only total 30 per cent of all loans in a quarter.
"Heritage has experienced a sharp increase in the proportion of investment lending in our new approvals," the bank said.
"That's the result both of our attractive pricing structure and the actions of competitors in the market place," it said.
In July, Heritage chief executive Peter Lock said investment lending was only 2 per cent of mortgage growth, well below the 10 per cent regulatory cap.
Mr Lock warned he did not want the bank to become "an open harbour" to borrowers declined by other lenders as it launched highly competitive one and three-year fixed rate investment mortgages.
In recent weeks it has attempted to correct the lending imbalance and increase principal and interest lending by increasing interest-only investment lending rates and imposing an 80 per cent loan-to-value cap on interest-only loans for investment lending.
"We need to manage our investment lending carefully, to ensure we stay within the caps APRA has placed on growth in investor and interest only lending," the bank said.
In addition, its Family Guarantee packages will from today only be on offer to owner-occupier borrowers.
The bank is also introducing loan-to-value pricing tiers for two of its home loan products.
It means borrowers with smaller deposits will pay higher interest rates to "account for the higher risk".
It will calculate the new rate on the total amount funded, which will include fees and charges.
Heritage is offering a discount variable rate of 3.97 per cent for owner occupiers with a deposit of at least 20 per cent.
A spokesman for CUA said it continues to monitor investment lending but has no immediate plans for their reintroduction.
It is offering investment loans to some established customers that meet borrowing criteria.
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Heritage, CUA stop landlord loans to avoid APRA breach

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<div class="cq-article-content-paras section">
The Tankerville Arms Hotel in Fitzroy has been listed by the hotelier Mazen Tabet and his investment partners.
There are unconfirmed market expectations of around $20 million for the 1865-built pub.
He reportedly shares ownership of the Tankerville Arms with local investors Franco and Lina Rumoro.
It is on a 1,087 square metre site over three titles at 230 Nicholson Street.
It will go to auction on October 5.
Tabet paid $17 million for the Portsea Hotel in 2016 buying it from Computershare founder Chris Morris.
He also owns the Lynbrook Hotel in Melbourne's south east.
The Tankerville Arms is being marketed by Cropley Commercial's Steve Cropley and George Iliopulos in conjunction with CBRE.
</div>
<div class="related-quotes section">It comes with 49 gaming machines, a TAB, a bistro and a first-floor function room and significant development potential.</div>
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Mazen Tabet lists Tankerville Arms, Fitzroy pub

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One month after 55 homeowners in Sydney’s Macquarie Park became instant millionaires after a private developer payed in excess of $80 million for the neighbours are following suit.
Some 33 of 36 units on the one Macquarie Park block are on the market through Savills.
The unit blocks on 12-14 Lachlan Avenue and 13 Cottonwood Crescent, Macquarie Park are zoned B4 mixed use, with potential to construct 12,688sqm of GFA (STCA) with a 45 metre maximum height limit. 
The land includes two detached existing residential flat buildings with 12-14 Lachlan Avenue containing 24 apartments and 13 Cottonwood Crescent containing 12 apartments, both constructed over four levels complete with ground floor secure garage parking.
According to Neil Cooke, Director, Residential Site Sales at Savills, there is also an opportunity to obtain a delayed settlement, which may suit a number of developers and investors alike.
“Macquarie Park has become one of Sydney’s fastest growing and most desirable suburbs to live and work," he said.
"The changing face of Macquarie Park from a light industrial and commercial centre to a mixed use core, has seen the demand for residences close to employment centres and transport connections skyrocket over the past two to three years."
Stuart Cox, Director, Residential Site Sales at Savills, said rezoned opportunities like this rarely become available in growth suburbs of this scale and significant interest from local, interstate and offshore developers is expected.
“Macquarie Park has plans to grow to the fourth largest CBD in Australia by 2030, by doubling its current working population of 40,000 employees and expanding from 850,000 square metres of commercial space to potentially over 2 million square metres," he said.
"Since 2009, when the Chatswood to Epping Railway line opened, the demand for investor and owner occupier grade dwellings has soared, with the average unit growing from $416,000 to $796,000 or an average of 11.8% per annum.
“We expect this site will rival its neighbour’s record breaking sale price as we have already had a number of interested parties enquire and the expressions of interest campaign hasn’t even commenced."
12-14 Lachlan Avenue &amp; 13 Cottonwood Crescent, Macquarie Park is being offered for sale by way of expressions of interest beginning Tuesday 5 September.
Some 55 homeowners in Sydney’s Macquarie Park became instant millionaires in August when a private developer payed $80 million for the 5,130sqm site situated at <a href="https://www.savills.com.au/_news/article/109976/153819-0/6/2017/macquarie-park-home-owners-to-follow-successful-merger-trend" target="_blank">15-21 Cottonwood Crescent</a>.
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Neighbours of Macquarie Park's $80 million property sale list

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A five bedroom Sanctuary Cove, Queensland house has been listed for mortgagee sale.
Located at <a href="https://www.realestate.com.au/property-house-qld-sanctuary+cove-126305378" target="_blank">3101 Forest Hills Drive</a>, the property overlooks a golf course and pool.
It last sold in 2013 at $589,000.
It features a sunken lounge that overlooks the gardens and golf course as well as living areas that open out to a large deck.
The kitchen has a walk-in culinary pantry.
There are five bedrooms, three upstairs and two downstairs, while all the ensuites have their own separate walk-in robe.
Other features includes a double lock up garage and air conditioning.
The property is within close proximity to village, restaurants and shops.
The property will be auctioned on October 7 through Del La Parker from McGrath.
It had been listed with another agent earlier this year at $1.68 million which had dropped to $1.38 million private treaty hopes within two months of its initial listing.
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Five bedroom Sanctuary Cove house listed for mortgagee sale

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A Federation Armadale house sold for $5.1 million placing it among Melbourne’s most expensive weekend auction sales.
Located at <a href="https://www.realestate.com.au/sold/property-house-vic-armadale-126128618" target="_blank">121 Kooyong Road</a>, the 761 sqm property is a prized Munro Estate landmark.
The four-bedroom Federation-era home saw four bidders compete with the final price was significantly above reserve.
Built in 1900, it last sold for $800,000 in 1990.
It features a sitting room with bay window and gas fireplace as well as living room with open fireplace.
There are also living and dining room as well as a European kitchen with stone benches.
<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/2017/09/03/121%20Kooyong%20Road-2.jpg" alt="">
The kitchen leads to the landscaped garden with pool and BBQ.
The main bedroom has a ensuite/bathroom as well as built in robe while three additional bedrooms have their own built in robes.
Other feature includes an off-street parking for two cars.
The property was offered through Marshall White agents James McCormack and Dean Gilbert.
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Federation Armadale house sold for $5.1 million

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A four bedroom Strathfield house has sold for $5.5 million making it Sydney’s most expensive weekend auction sale.
Located at <a href="https://www.realestate.com.au/property-house-nsw-strathfield-126047034" target="_blank">73 Newton Road</a>, the 1416 sqm property was sold for the first time in 88 years.
It features 20 metres frontage with the potential to create a tennis court.
<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/2017/09/03/73%20Newton%20Road-2.jpg" alt="">
There are four bedrooms and two bathrooms as well as two kitchen and formal/informal living areas.
The property was offered through Joe Campisi of Devine Real Estate.
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Four bedroom Strathfield house sold for $5.5 million

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Geelong once again took the top spot with the highest weekend auction clearance rate, according to CoreLogic’s latest report.
The property data firm says that Geelong had a clearance rate of 86.7% for its 30 auctions.
This is followed by Hunter region with 72% and Wollongong with 70.4%.
<a href="https://www.propertyobserver.com.au/images/2017/09/04/Screen%20Shot%202017-09-04%20at%2011.16.55%20am.jpg" target="_blank">Click to enlarge</a>
<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/2017/09/04/Screen%20Shot%202017-09-04%20at%2011.16.55%20am.jpg" alt="">
Gold Coast had the lowest clearance rate with only 28% of its 25 auctions cleared.
A three bedroom house at <a href="https://www.realestate.com.au/sold/property-house-vic-newtown-126127350" target="_blank">45 Austin Street</a>, Newtown (above) was sold for $950,000.
It last sold in 1993 for $150,000.
A four bedroom house at <a href="https://www.realestate.com.au/sold/property-house-vic-belmont-126139074" target="_blank">32 Roslyn Road</a>, Belmont (below) was sold over the weekend for $812,000.
It last sold for $281,000 in 2001.
<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/2017/09/04/32%20Roslyn%20Road.jpg" alt="">
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Geelong scores 86% auction clearance rate: CoreLogic

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>

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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."

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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.

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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."

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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.

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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."

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[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.

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