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Alceon Captrans JV have sold regional Brisbane shopping centre, Town Square Redbank Plains for an estimated $160 million to Singapore based Rockworth Capital Partners.
Simon Rooney, JLL’s head of retail investments for Australasia said he is seeing a very clear trend towards offshore investors increasingly driving acquisitions of quality Australian sub-regional assets – a trend that’s been building and gaining momentum in 2017.
“Sub-regional retail is the preferred asset class for many offshore groups seeking quality retail exposure, given the defensive and resilient characteristics and positive in built growth outlook," he said.
"Assets which are predominately food, service and convenience-based, with a high proportion of non-discretionary retail and limited fashion, offer enhanced and consistent returns and limit trading volatility.
"The lower rental profile of sub-regional centres also provide attractive opportunities for income and capital growth, via asset repositioning and tenancy re mixing.
“The comparative attractive yield profile available in the Australian retail sector, continues to offer strong relative value for offshore investors as evidenced by the recent transactions of Town Square Redbank Plains to Rockworth Capital and Casey Central, also sold by JLL to M&amp;G Real Estate.
“Domestic institutions are also keenly pursuing sub-regional centres to secure above-benchmark total returns through active management and asset repositioning.
“The latest being the Charter Hall acquisition last week of Salamander Bay (NSW) for circa $175 million and reinforces the significant current interest in the sub-regional sub-sector.
Recent major sub-regional transactions above $50 million:
<table border="1" cellspacing="0" cellpadding="0"><tbody>
<tr>
<td>
Centre
</td>
<td>
Purchase price
</td>
<td>
Cap Rate
</td>
<td>
Sale date
</td>
<td width="68">
Vendor
</td>
<td width="71">
Purchaser
</td>
</tr>
<tr>
<td>
Redbank Plains Town Square, QLD
</td>
<td>
$160,000,000
</td>
<td>
6.25%
</td>
<td>
Dec-16
</td>
<td width="68">
Alceon Captrans
</td>
<td width="71">
Rockworth
</td>
</tr>
<tr>
<td>
Salamander Bay Centre, NSW
</td>
<td>
$174,500,000
</td>
<td>
5.80%
</td>
<td>
May-17
</td>
<td width="68">
Vicinity
</td>
<td width="71">
Charter Hall
</td>
</tr>
<tr>
<td>
Arana Hills Plaza, QLD
</td>
<td>
$67,100,000
</td>
<td>
6.00%
</td>
<td>
Dec-16
</td>
<td width="68">
ISPT
</td>
<td width="71">
Charter Hall
</td>
</tr>
<tr>
<td>
Casey Central, VIC
</td>
<td>
$220,750,000
</td>
<td>
5.25%
</td>
<td>
Dec-16
</td>
<td width="68">
Scentre Group
</td>
<td width="71">
M&amp;G
</td>
</tr>
<tr>
<td>
Campbelltown Mall, NSW
</td>
<td>
$197,000,000
</td>
<td>
6.00%
</td>
<td>
Sep-16
</td>
<td width="68">
Perron Group
</td>
<td width="71">
Charter Hall
</td>
</tr>
</tbody></table>
“Combined with the current circa $3.5 billion Blackstone retail portfolio sale process, the current series of transactions would be expected to drive retail investment activity in Australia to a new record high in 2017.”
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j.ballantyne1990-6AQqhLzZaK

Australia's sub-regional retail sector continues to attract strong offshore and domestic demand

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A standalone commercial site with a three-bedroom residence at Scoresby in Melbourne’s eastern suburbs has sold for $521,000 post-auction.
The <a href="https://www.realcommercial.com.au/property-retail-vic-scoresby-502364050" target="_blank">11-13 Cavell Street</a> vacant property was snapped up by a local investor.
It last traded for $75,000 in 1996, according to RP Data.
The property has total land area of approximately 376 sqm and is zoned Commercial 1.
The selling agent was George Kelepouris of Ray White Commercial.
Kelepouris said the building with a ground floor retail/office space was offered for sale at an onsite auction.
“The auction attracted four bidders and the property was sold shortly after the auction to one of the bidders,” he said.
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Scoresby commercial property sold for $521,000

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The pro surfer and former Quiksilver boss Bruce Raymond and his wife Janice have sold their Clareville trophy home for about $9 million.
<a href="https://www.realestate.com.au/property/182-hudson-pde-clareville-nsw-2107" target="_blank">The sale</a> came just weeks after relisting it with reduced $9.5 million hopes.
With views to the north up Pittwater to Lion Island, it had last traded in 2004 for $6.05 million.
The couple had then added the boat house and jetty.
The house had been designed by architect Sean Gartner for Benwarin Wines owners Allan and Janneke Bagley.
The 1330 sq m Hudson Parade holding on the tip of Taylors Point initially came with hopes of setting a $13 million plus suburb record.
This article first appeared in the Sunday Telegraph.
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Former Quiksilver boss Bruce Raymond sells Clareville trophy

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An Aldinga Beach waterfront house sold for $1.45 million making it Adelaide’s most expensive weekend auction sale.
Located at <a href="https://www.realestate.com.au/property-house-sa-aldinga+beach-125424530" target="_blank">210 Esplanade</a>, the 1800 sqm property is just steps away from beaches.
Built in 1965, it was last sold in 2009 for $1.175 million and in 2002 for $680,000.
It has an elevated position with a neighbouring property only to one side and backed onto Aldinga Scrub Conservation Park.
Featuring main living area that overlooks the views via a large deck along with four bedrooms, two with ensuites, three bathrooms and a second living space.
<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/2017/06/04/210%20Esplanade-2.jpg" alt="">
Other features includes in-ground swimming pool and pool shed.
The CBD is 50 kilometres away as well as a close drive to amenities, local cafes and restaurants.
The property was offered through Harcourts agent Holly Freeland.
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Ocean and coastal view waterfront Aldinga Beach house sold for $1.45 million

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With the Australian Prudential Regulation Authority (APRA) clamping down on interest-only loans, experts and economists think interest-only borrowers may have a hard time refinancing to principal and interest loans, according to finder.com.au, the comparison website.   All 33 experts and economists in the monthly <a href="https://www.finder.com.au/rba-cash-rate" target="_blank" rel="noopener noreferrer">finder.com.au RBA survey</a>, which is the largest of its kind in Australia, are expecting the cash rate to hold at 1.5 percent at today's board meeting.   When asked about future cash rate movements (regardless of when it will happen), the majority (80 percent, 24 of 30) of panellists think the next move will be a rise.    Of the minority who are expecting a cash rate fall, most of this group believe the rate will dip no lower than 1.00 percent. However, Stephen Koukoulas of Market Economics and Jordan Eliseo of ABC Bullion believe the rate will fall even lower to 0.75 percent and 0.50 percent respectively.
"The RBA continues to place far too much weight on Sydney and Melbourne housing markets and not enough on the rest of the economy which is crying out for lower interest rates," Stephen Koukoulas, Market Economics said.   The majority of experts and economists (74 percent) expect the next rise to come in 2018. However, some are indicating that a rise may be due sooner with four respondents anticipating a rise between October and December this year.   As APRA is aiming to keep all new interest-only loans below 30% of total new residential mortgages, most panellists (57 percent) surveyed on this topic believe borrowers switching from interest-only to principal and interest, or those whose fixed interest-only terms are nearing expiring, may have a hard time refinancing.   Graham Cooke, Insights Analyst, at finder.com.au, says with potential rate rises in store, interest-only borrowers may be hit the hardest.   “Borrowers shifting from an interest-only loan to a principal and interest loan may be struck with a higher repayment initially, and they may find it difficult to service the principal portion, but ultimately it’s important to pay down the principal of the loan.   “With the next rate move likely to be in a positive direction, and with many lenders already lifting product rates, interest-only mortgage holders will be the most directly affected,” he says.   For example, for a $800,000 interest-only loan with 4 percent interest, repayments will be $2,667 versus $3,819 for those borrowers also paying down the principal.    However, increasing the interest rate from 4 percent to 6 percent would up the interest-only loan repayments by $1,333 per month, yet the principal and interest repayments would rise by only $997.   “To shield yourself from rate rises, look at your budget and find ways to free up your cash flow so you can cope with higher repayments. For instance, you may decide to consolidate personal debt to save on account fees or ongoing interest charges,” he says.   Regarding Standard &amp; Poor (S&amp;P)’s recent downgrading of 23 Australian financial institutions, most panellists (15, 63 percent) thought S&amp;P’s perception of the increased risk of a sharp fall in property prices was not justified. However, nine (37 percent) disagreed.   “We’re looking at a higher-interest future. So it’s time to start planning for higher interest rates," Mr Cooke says.    “Interest-only investors are reliant on prices continuously going up, but we’re starting to see prices either slow or fall in some cities across the country, so ensure you have a 2-3% buffer to cushion yourself against any future rate rises." Here’s what our experts had to say:
 Jordan Eliseo, ABC Bullion (Hold): "There is no compelling case to move rates in either direction at this stage. Despite generally soft economic data (today's retail sales notwithstanding), we expect the RBA will wait to see further evidence that the Australian property market is indeed cooling, before cutting rates in the second half of this year."   Shane Oliver, AMP Capital (Hold): "Not enough has changed since the last meeting when the RBA actually revised up slightly its growth outlook."   John Hewson, ANU (Hold): "Insufficient info so monitoring data."   Alison Booth, Australian National University (Hold): "The fundamentals are little changed."   Darryl Gobbett, Baillieu Holst (Hold): "The RBA will still be concerned about systemic stability being possibly adversely impacted by increased debt if rates were cut while likely seeing little benefit to increased growth. Uncertainty about impacts of  a rate rise with the current economic, property and political uncertainties put well off the possibility of a rate rise."   Peter Munckton, Bank of Queensland (Hold): "The economy is improving, and the RBA would prefer not to reduce rates."   Dr Kishti Sen, BIS Oxford Economics (Hold): "The Reserve Bank won't cut rates because it won't improve business investment. Business investment remains weak despite historically low financing rates. In addition, recent increases in the residential property market have been too high. They won't raise rates as underlying inflation is expected to remain close to 2% over the next two years."   Paul Dales, Capital Economics (Hold): "The RBA is willing to put up with underlying inflation being below its 2-3% target range as long as the unemployment rate remains below 6% and as long as it is still worried about the strong housing market and high level of household debt. In other words, lower interest rates may just exacerbate the housing issue."   Michael Blythe , CBA (Hold): "House price concerns vs low inflation."   Savanth Sebastian, CommSec (Hold): "RBA comfortable about the medium term outlook for Australia. Is likely to keep a close eye on how household consumption evolves over the rest of this year."   Dr Andrew Wilson, Domain Group (Hold): "Although case growing for a cut in rates Bank still more likely to continue with optimistic steady settings - but decision should be closer than recent as ANOTHER negative quarter of GDP looms."   Scott Morgan, Greater Bank (Hold): "Current data indicates that there will not be a change."   Mark Brimble, Griffith University (Hold): "The outlook is weak for the next 12-24 months and thus the bias is for the economy needing more support.  The financial institutions have not helped by pushing rates up, however this has assisted with APRA's desire to reduce property and credit risks.  All in all, the RBA is likely to sit on its hands again."   Shane Garrett, Housing Industry Association (Hold): "Inflation is at comfortable rate, growth does not require further support at this time. The foreign exchange rate is balanced."   Paul Bloxham, HSBC (Hold): "Because underlying inflation is past its trough."   Alex Joiner, IFM Investors (Hold): "There is no justification for a rate move. If anything economic performance and risks still suggest there should be an easing bias and property markets/debt accumulation suggest a tightening one. The former argument remains stronger in my view."   Michael Witts, ING Bank (Hold): "The RBA would be happy with the current state of the economy and will await until the release of Q1 GDP data before considering interest rate changes."   Leanne Pilkington, Laing+Simmons (Hold): "The latest data suggests subdued house price easing is occurring in major markets, there are conflicting opinions on the near-term growth prospects of the economy, the crackdown on interest-only loans seems to have caused investors to back off, and the threat of the major banks adjusting rates to counter the bank levy cannot be entirely discounted. A steady cash rate is the constant among this broader uncertainty.”   Nicholas Gruen, Lateral Economics (Hold): "Because the economic is flat and, though it would like to increase rates, the economy remains sluggish."   Matthew Tiller, LJ Hooker (Hold): "No material change in economic environment since RBA last met."   Stephen Koukoulas, Market Economics (Hold): "RBA continues to place far too much weight on Sydney and Melbourne housing markets and not enough on the rest of the economy which is crying out for lower interest rates."   John Caelli, ME (Hold): "The RBA won’t cut rates because it remains concerned about fuelling further increases in house prices and household debt."   Michael Yardney, Metropole Property Strategists (Hold): "Our economy is stumbling along so until job numbers improve it would be safe to assume the RBA won’t be hiking interest rates to slow the property markets down. On the other hand they can't afford to drop rates and fuel our property markets. So rates will remain on hold."   Mark Crosby, Monash University (Hold): "While there are some indicators of softening inflation and weakness in the economy, including slowing house price growth there is no case for a rate cut. Given this weakness and a softer US inflation outlook reducing the probability of an imminent Fed rate increase, there is also little case for raising rates."   Christopher Schade, MyState Bank (Hold): "The hurdle for another cut is high. While inflation remains subdued and the outlook for economic growth over the next year couple of years is slightly below trend, interest rate settings in Australia are very accommodative and remain appropriate at their current level. The RBA appears particularly reluctant to deliver further cuts given heightened financial risks on the back of high household debt levels."   Saul Eslake, Economist (Hold): "Nothing has happened since the last meeting that is likely to have materially altered the RBA's view of the outlook for inflation, economic growth or unemployment from that set out in the May Statement on Monetary Policy, and hence nothing will have altered their view that current monetary policy settings are appropriate."   Alan Oster, Nab (Hold): "RBA still weighing rates v house prices. Too early to tell"
Jonathan Chancellor, Property Observer (Hold): "They are low enough for the bank to continue to watch as is."   Noel Whittaker, QUT (Hold): "No reason to move either way."   Nerida Conisbee, REA (Hold): "The RBA still likely to be concerned about economic growth and particularly underemployment and low inflation. Unwilling to cut due to the state of housing. RBA will be cautious not to accelerate. For home buyers the RBA's decision doesn't really matter as banks will increase rates anyway driven by APRA and potential banking tax."   Christine Williams, Smarter Property Investing (Hold): "Retail spending over this month will increase due to retail sales and EOFY, which in turn will increase the nation's credit card debt. This will portray a false positive outlook from an economic point of view."   Janu Chan, St.George Bank (Hold): "RBA unlikely to have altered its on hold stance over the past month. Housing indicators suggest cooling conditions but its concerns over risks associated with housing and household debt will remain. Employment was the other development the rba is watching closely. On this front the fall in the unemployment rate would have been encouraging."   Steven Milch, Suncorp (Hold): "Mixed economic signals don't adequately make the case to cut or hike at this stage."
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RBA to hold at June 2017 meeting, but the Kouk expects three more cuts

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A Potts Point car parking space fetched $222,000 at weekend auction, which the Di Jones sales agent declared “top dollar”.
Bidding opened at $120,000 for the 15.8 square metre space in The Chimes apartment block at 101/45-53 Macleay Street.
It last sold at $35,000 in 1990, reflecting seven percent annual growth.
The sale to a local resident from further down the street through Di Jones agent Jeremy Brink equated to $14,000 per square metre.
It was up on the most recent Laing Real Estate sale of a 16sqm block in February around the corner on Challis Avenue which at $190,000 equated to $12,666 per square metre. 
“The shifting market isn’t having an impact on car space prices,” Di Jones agent Jeremy Brink told The Sunday Telegraph.
<div>
There were three of the five registered parties who bid.
The successful bidder had lived in Potts Point for 20 years and intended the car spot for his personal use.
</div>
There’d been a $264,000 sale of a car space in the same block in May last year, through Greg McKinley of Richardson &amp; Wrench Potts Point, but that had been bigger at 26 square metres.
It could still only fit one car.
<img src="https://www.urban.com.au/images/2015/05/28/Screen%20Shot%202015-05-29%20at%208.12.09%20AM.png" width="700" height="425">
The sale reflected around $10,000 a square metre for the longer then normal 26 square metre space, but single car space.
The 10-storey, 80 unit Chimes strata block was registered in 1964 when the standard EJ Holden cost the equivalent of $2102.
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Potts Point carspace sells at $222,000

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A two bedroom timber Woodridge house has been sold for $241,000 making it Brisbane’s most cheapest weekend auction sale.
Located at <a href="https://www.realestate.com.au/property-house-qld-woodridge-125467238" target="_blank">72 North Road</a>, the 875 sqm parcel of land has been stated to be an "exciting opportunity" for a savvy buyer or builder.
It was last sold in 1986 for $39,000.
The median price of a house in Woodridge is $293,000 while a unit has a median price of $199,000.
It was marketed as having the opportunity to build brand new home or splitting the block to build two homes.
It has a south-east facing aspect with minimal gardens.
There is also a large shed out the back.
The property was offered through LJ Hooker Peter Florentzos.
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Brisbane's cheapest home - a two bedroom timber Woodridge house sold for $241,000

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A historically significant sandstone cottage dating back to 1827 has been listed for sale in Sutton Forest.
John Ross and Drew Lindsay of Drew Lindsay Real Estate in Bowral have given a price guide of $3.45 million. 
The Swanton cottage comes with an adjacent house, which is positioned upon 90 acres of spectacular rural views.
Founded upon land grant from Governor Macquarie, it was once part of the James Atkinson's Oldbury estate, which was home to the first Australian born female artist, Louisa Atkinson.
The restored and renovated stone cottage boasts two substantial rooms, cathedral ceilings, open fireplace and a large veranda overlooking farmland.
The adjacent three bedroom home has been fitted with a spacious kitchen featuring European appliances, two bathrooms and a variety of spacious living rooms opening onto an outdoor entertaining area.
The property sits on prime cattle country, and offers extensive rural infrastructure including fencing, yards, crush, 6 spring-filled dams and riparian rights to Whytes Creek, and large sheds, as well as a historic dairy building.
Properties in Sutton Forest claim a median house price $1.2 million. 
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Historic 1827 Sutton Forest cottage, Swanton listed

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The Lake Macquarie Trinity Point residential development received two awards at the weekend Asia Pacific Property Awards 2017-2018.
The project won awards in two categories - leisure architecture and hotel architecture.
This year's award was the largest in its history, with over 820 entries across all categories.
Trinity Point was designed by Architects Squillace, who have a reputation for delivering exceptional resort style facilities and five star hotels.
"We are thrilled Trinity Point is being acknowledged for its vision and we continue to focus on delivering world class luxury living on Lake Macquarie," Trinity Point chief executive officer Keith Johnson said.
The former Miss Universe Jennifer Hawkins is the face of the $388 million Trinity Point marina project at Lake Macquarie, which is accessed via the M1 Morriset motorway turnoff.
The project was first announced in 2006 for the site formerly known as the St John of God holding.
The NSW government approved a concept plan five years ago for the 23 hectare site which is around an hour and a half from Sydney and 30 minutes from Newcastle.
Johnson eventually plans around 190 residential properties, 250 luxury tourist apartments and a boutique hotel. 
The community comprises a mix of five-star resort, hospitality, retail, residential and marina components.
Johnson hopes the project will offer a combination of the vibrancy of Noosa or Port Douglas, along with the prestige and grandness of the Fairmont Banff Springs in Canada.
A foreshore boardwalk will trace the shores of Barden’s Bay, opening up the water’s edge to the public and a state-of-the-art function centre that will accommodate weddings.
Former Australian cricket captain Michael Clarke has bought into the new development.
<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/2015/11/23/clarke.jpg" alt="" width="567" height="344">
Caption: Johnson Property Group Managing Director, Keith Johnson and former Australian cricket captain Michael Clarke
He bought a three storey, four bedroom terrace off the plan. It cost $1,388,888.
"Trinity Point is going to become an absolute Sydney weekend hotspot – another Palm Beach or daytrip destination but with more of a marina-lifestyle resort focus,” he said.
For more information, <a href="https://bit.ly/2p1WfOE" target="_blank">click here</a>. 
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Lake Macquarie's Trinity Point already winning awards

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A residential Potts Point car parking space, in inner Sydney, fetched $222,000 at weekend auction, which the Di Jones selling agent declared “top dollar”.
Bidding opened at $120,000 for <a href="https://www.domain.com.au/101-45-53-macleay-street-potts-point-nsw-2011-2013605721" target="_blank">the 16 square metre undercover space</a> (above) in The Chimes apartment block.
There were two of the five registered parties still bidding from $180,000 onwards.
Another standard car space had sold nearby earlier this year at $190,000 with a larger 26 sq m car space fetching $264,000 two years ago.
The successful bidder has resided in Potts Point for two decades and intended the car spot for his personal use, The Sunday Telegraph reported.
The 10-storey, 80 unit Macleay Street strata studio block was built in the mid 1960s when the standard EJ Holden cost the equivalent of $2000.
The car space was among the first week of winter offerings, but not the cheapest. 
A three bedroom house at Smithfield - offered as a renovator's dream - sold for $142,500 as Adelaide’s and the nation's cheapest weekend auction sale.
Built in 1980 it last sold in 1995 for $56,000.
Featuring three bedrooms, the property at <a href="https://www.realestate.com.au/property-house-sa-smithfield-125500850" target="_blank">19 Adaluna Crescent</a> had $110,000 price guidance.
<img src="https://www.urban.com.au/images/2017/06/04/Screen%20Shot%202017-06-05%20at%208.29.18%20AM.png" alt="">
The onset of winter saw auction volumes fall across the country.
Some 2,545 homes were taken to auction, compared to 2,885 the previous weekend, according to CoreLogic’s latest report.
The property data firm says that the preliminary clearance rate across the combined capital cities was higher (73.9 per cent) compared with last week’s finalised result, which was the third lowest clearance rate so far this year (71.3 per cent).
With auction clearance rates typically revising lower as more results flow through, the final clearance rate is likely to be lower than what was recorded last week, CoreLogic auction analyst Kevin Brogan said.
Every city had a higher clearance rate than the same weekend last June.
At the same time last year, both the combined capital city clearance rate and the number of auctions were lower, with 2,008 auctions held and 68.2 per cent reported as successful.
The two largest auction markets, Melbourne and Sydney, saw their preliminary clearance rates rise compared with last weeks finalised results, with Sydney at 77.5 per cent and Melbourne at 75.4 per cent.
Across the smaller capital city markets, week-on-week results show mixed results with clearance rates falling in Brisbane and Canberra.
Across Melbourne, 1,181 homes were taken to auction and preliminary results show a clearance rate of 75.4 per cent, increasing from last weekend when the final clearance rate fell to 74.2 per cent across 1,366 auctions, the lowest clearance rate for the city so far this year.
At the same time last year, Melbourne’s clearance rate was 71.1 per cent, with 970 auctions held across the city.
Looking at Melbourne’s sub-regions, the West region was the best performer in terms of clearance rates, with a 83.5 per cent success rate.
The top weekend sale was a 1970s Hawthorn house for $5.51 million.
Located at <a href="https://www.realestate.com.au/property-house-vic-hawthorn-125400526">17 Fairview Street</a>, (below) the 760 sqm property marketed as suitable to be redeveloped was snapped up by a Chinese buyer who will demolish the five bedroom brick home, Fairfax Media reported. 
<img src="https://www.urban.com.au/images/2017/06/04/Screen%20Shot%202017-06-05%20at%208.30.27%20AM.png" alt="">
With views overlooking Fairview Park, Yarra River and CBD, it was last sold in 2007 for $2.8 million.
There was a record price paid in Fitzroy when a couple from Boroondara with three young children secured Fitzroy House at <a href="https://www.realestate.com.au/sold/property-house-vic-fitzroy-125390094">43 Gore Street </a>with a $4.9 million bid.
It at almost $900,000 more than the suburb’s previous record of $4.011 million set by 17 Bell Street last year.
It was sold by Madman Entertainment co-founder Paul Wiegard and his wife Sarah, who spent about $2 million renovating the three-level 1854 house, which cost $2.1 million in 2008.
It was built for surgeon Thomas Embling.
Sydney’s preliminary auction clearance rate increased to 77.5 per cent from 72.7 per cent last week, while auction volumes were lower this week with 1,000 homes taken to auction, compared to 1,101 last week.
At the same time last year, both the clearance rate and auction volumes were lower with 692 homes taken to auction and a clearance rate of 72.9 per cent.
Sydney's top sale was an art deco Russell Lea house sold for $5.15 million with six bidders registering at the auction.
Located at <a href="https://www.realestate.com.au/property-house-nsw-russell+lea-125413062" target="_blank">26 Clements Street</a>, the P&amp;O style residence sits on a double block that overlooks Iron Cove Bay.
<img src="https://www.urban.com.au/images/2017/06/04/Screen%20Shot%202017-06-05%20at%208.32.12%20AM.png" alt="">
Designed in 1939 by Guy Crick, it was marketed as having potential to renovate or develop through Warwick Williams Real Estate agents Adrian Sereni and Warwick Williams.
There were 146 auctions held across Brisbane this week, down from 162 last week, but higher than one year ago (130).
Preliminary results show that 51 per cent of Brisbane auctions were successful this week, up from 52.2 per cent last week, while one year ago 48.2 per cent of auctions were sold.
A two bedroom timber Woodridge house sold for $241,000 making it Brisbane’s most cheapest weekend auction sale.
Located at <a href="https://www.realestate.com.au/property-house-qld-woodridge-125467238" target="_blank">72 North Road</a> (below), the 875 sqm parcel holding last sold in 1986 for $39,000.
<img src="https://www.urban.com.au/images/2017/06/04/Screen%20Shot%202017-06-05%20at%208.33.32%20AM.png" alt="">
A total of 107 auctions were held in Adelaide this weekend, down from 112 last week, and up from 98 last year.
Preliminary Adelaide results for the weekend show 63.4 per cent sold, up from 57.6 per cent last week. 
An Aldinga Beach beachfront reserve house sold for $1.45 million.
Located at <a href="https://www.realestate.com.au/property-house-sa-aldinga+beach-125424530" target="_blank">210 Esplanade</a>, the 1800 sqm property is just steps away from the beach, 50km from Adelaide CBD, and a short drive to McLaren Vale.
<img src="https://www.urban.com.au/images/2017/06/04/Screen%20Shot%202017-06-05%20at%208.34.32%20AM.png" alt="">
Modernised since built in 1965, it was last sold in 2009 for $1.175 million and in 2002 for $680,000.
Across Perth, preliminary results show 58.3 per cent of the 12 reported auctions were successful, while one week ago 50 per cent of Perth auctions were successful and one year ago just 13 per cent were sold.
There were 78 auctions held in Canberra this week and the preliminary clearance rate was 71.9 per cent, down from 73.8 per cent last week and similar to one year ago (71.1 per cent).
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Potts Point parking space amongst weekend auction highlights

Builder-developer <a href="https://www.apartments.com.au/developers/mcnab-developments">McNab</a> has wasted little time reshaping one of South Brisbane's most significant undeveloped apartment sites after acquiring the property earlier this year.&nbsp;

McNab has lodged plans to scrap an existing approval for two 30-storey towers and instead deliver a single 28-storey residential building, preserving part of the site for a future development opportunity.

The proposal, lodged over <a href="https://www.apartments.com.au/new-apartments/64-peel-street-south-brisbane-qld-4101">64 Peel Street and 9 Cordelia Street</a>, is for a residential-led mixed-use development comprising 124 apartments above a landscaped podium, alongside a boundary realignment that preserves part of the land for a future residential project.

<img alt="First look: McNab resets decade-old South Brisbane approval with 124-apartment tower" data-entity-type="file" data-entity-uuid="743bf564-3f8f-45fc-b8d3-bbf18f5b628f" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/mcnab%20Peel%20st%20podium.png?VersionId=EhCxGrVn_VFH3qTbKnI4WppGwaMnOn0t" />

Designed by <a href="https://www.apartments.com.au/architects/hayball">Hayball</a>, the development will deliver 119 two-bedroom and five three-bedroom apartments across 23 residential levels. A five-level podium will accommodate 135 car spaces, while the ground floor will include a 66 sqm commercial tenancy, an activated residential lobby with work-from-home spaces, and a publicly accessible landscaped plaza linking Cordelia and Peel streets.&nbsp;

Communal amenities will span Level 6 and the rooftop, including indoor and outdoor recreation spaces, a swimming pool, barbecue facilities, kitchen and dining areas, lawn space, sauna, steam room and yoga facilities.

The application also proposes a boundary realignment to create a standalone 1,290 sqm development lot while retaining an adjacent parcel for future redevelopment, allowing the balance of the site to contribute additional housing over time.

Hayball said the architecture has been shaped by the site's elevated corner position at the intersection of Peel and Cordelia streets and Brisbane's subtropical climate.

The design incorporates generous landscaped setbacks, a masonry podium wrapped with planting, large north-facing balconies, and a slender tower profile intended to maximise natural light, cross ventilation and long-range views. The rooftop has been conceived as a wellness-focused retreat overlooking Brisbane, with amenities positioned to capture views towards Mount Coot-tha and the CBD.

<img alt="First look: McNab resets decade-old South Brisbane approval with 124-apartment tower" data-entity-type="file" data-entity-uuid="c5f99e84-6ad8-4a87-82d1-869685b754d2" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/mcnab%20tower%20perspective.png?VersionId=Gw0IuJaSAlk.tvGBxInhZOcQAdIB..2b" />

The planning submission positions the proposal as a response to both changing market conditions and Brisbane's Kurilpa Sustainable Growth Precinct planning reforms.

McNab acquired the site after the previous approval was granted, with the existing scheme no longer reflecting current residential market demands, economic conditions, construction challenges, construction efficiencies or the quality of development outcome now being pursued, the planning report noted.

McNab continues to expand its residential development pipeline across Brisbane and the Gold Coast. The developer recently launched The Tannery in West End, securing more than 60 per cent of apartments before the project's public release. It is also delivering Elements Budds Beach in Surfers Paradise and Lucia Highgate Hill, an eight-apartment boutique development overlooking the Brisbane River.

Joel Robinson

McNab resets decade-old South Brisbane approval with 124-apartment tower

A steeply sloping Bellevue Hill site is set to accommodate a new mid-rise apartment development, with plans lodged for 20 homes that respond to the site's dramatic topography.

The proposal for the consolidated land at <a href="https://www.apartments.com.au/new-apartments/138a-140-bellevue-road-bellevue-hill-nsw-2023">138A-140 Bellevue Road</a> has been designed by Sydney architecture practice Common Office, which has used the site’s substantial fall to distribute the building’s scale and unlock 20 apartments without presenting the full height to the street.&nbsp;

“The unique design strategy leverages the site’s substantial topographical fall to facilitate increased density, presenting a seven-storey profile to Bellevue Road while rising to 10 storeys at the rear,” Common Office said in its architectural design report.

The apartment mix spans one, two, three- and four-bedroom residences. Four two-bedroom apartments are designated as affordable housing, while the plans also include two adaptable dwellings. The mix is majority three-beds, with the typical three-bed apartment offering around 144 sqm internally, with balconies of around 15 sqm.

The affordable housing component represents 15 per cent of the residential floor area and allows the project to access additional height and floor space under the NSW Government’s in-fill affordable housing provisions. The site also falls within the inner area of the Low and Mid-Rise Housing Policy because it is within 400 metres walking distance of Double Bay Town Centre.

<img alt="First Look: Plans lodged for topography-led affordable housing project in Bellevue Hill" data-entity-type="file" data-entity-uuid="b1230d0f-3bfa-4a11-abaf-0928c66ef345" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Bellevue%20da.png?VersionId=dZeMK3P.OutGjN8ycjsxm8uNsj_QFWQv" />

Common Office has arranged the building around a masonry podium and a lighter upper volume, drawing on two recurring elements of Bellevue Hill’s established architecture: sandstone bases and the vertical proportions of local Inter-war Art Deco apartment buildings.

“The proposal is governed by a holistic design language that reconciles the solid horizontal masonry of the neighbourhood’s podiums with the elegant verticality of its Art Deco heritage,” the architect said.

“The building maintains a consistent rhythmic logic utilising deep recesses and a sophisticated material transition to break down the 10-storey scale into a series of articulated, human-scale volumes.”

<img alt="First Look: Plans lodged for topography-led affordable housing project in Bellevue Hill" data-entity-type="file" data-entity-uuid="0147f503-1af1-4d51-97fb-c2f1cba63a9d" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Bellevue%20bldg.png?VersionId=GoW7q3NlK67OpnePXhk7zvklrlKb72Qc" />

Large-format sandstone tiles will define the lower levels, establishing a robust base that negotiates the change in elevation from Bellevue Road. Above, red-tinted precast concrete frames, recessed balconies, anodised aluminium screens and expanded metal details will create a more vertically expressed façade. Integrated planter beds will introduce greenery across balcony edges and recessed sections of the building.

The elongated northern façade has been divided into three recessed vertical masses to reduce its perceived length. Triangular window elements and metal privacy screens reference the geometry of nearby Art Deco buildings while controlling overlooking toward surrounding homes. The southern elevation will incorporate further privacy screening, landscaped edges and deep balconies to maintain light and ventilation.

<img alt="First Look: Plans lodged for topography-led affordable housing project in Bellevue Hill" data-entity-type="file" data-entity-uuid="e8679cf1-18bc-4447-8a0f-0052b94ab83c" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Bellevue%20da%20rooftop.png?VersionId=5SQqQqRFf76rvE2p1TbxJSweMN70AIbc" />

Private and communal landscaping is distributed throughout the development. A landscaped garden apartment is positioned within the lower portion of the site, while a communal terrace on Level 5 will include a central timber deck, barbecue facilities, resident planting plots and areas for outdoor dining and informal gatherings.

Common Office described the terrace as an elevated sanctuary designed to capture district views and sunlight. Its planting strategy incorporates endemic species associated with the Eastern Suburbs Banksia Scrub, extending the landscape vertically through the building and providing habitat for local flora and fauna.

A second communal outdoor area is proposed at roof level, with built-in seating, paved gathering areas and perimeter planting.

Bellevue Hill is enjoying renewed momentum in the new apartment market, with several boutique developments recently launched and currently under construction. Positive Investment Enterprise is delivering the 16-apartment Kew Palm House on Birriga Road, while Chanine Developments is also under construction at Florian, a 36-apartment project on Banksia Road.

&nbsp;

Bellevue Hill is enjoying renewed momentum in the new apartment market, with several boutique developments recently launched and currently under construction.

First Look: Apartment development pitched for Bellevue Hill, Double Bay fringe

South Brisbane's apartment pipeline continues to build momentum, with <a href="https://www.apartments.com.au/developers/trk-property-group">TRK Property Group</a> lodging plans for a 161-apartment tower on Montague Road as developers accelerate investment across the Kurilpa Sustainable Growth Precinct.

The proposal for 176–186 Montague Road would replace an existing office building with a 20-storey residential tower designed by <a href="https://www.apartments.com.au/architects/cox-architecture">COX Architecture</a>, adding to a growing pipeline of high-density projects reshaping one of Brisbane's fastest-evolving inner-city precincts.

The project has been conceived as a "living building", featuring a flowing tower form, extensive vertical landscaping, and generous communal spaces that respond to the evolving Kurilpa Sustainable Growth Precinct.

TRK Property Group Development Director Matt Kan said the project reflected the confidence developers have in South Brisbane's long-term future.

"South Brisbane is entering an incredibly exciting period, and we see Montague Road sitting right at the heart of that evolution," Kan said.

"With the former Visy site directly opposite us and significant investment planned throughout the broader Kurilpa precinct, there is a real sense of momentum around this part of the city and what it will become over the coming years.

"For TRK, this is an opportunity to be part of that next chapter and deliver a project that responds to where the precinct is heading, while contributing to the continued evolution of Brisbane's river edge."

<img alt="First look: TRK Property joins South Brisbane apartment surge with Montague Road tower plans" data-entity-type="file" data-entity-uuid="590fe1ad-f892-4446-a679-80e33a16d029" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/TRK%20tower%20facade.png?VersionId=uOJStrcKpyHFcPE1w6_9SMAFzVMCcZll" />

The scheme includes a mix of one, two, three and four-bedroom apartments, incorporating multi-purpose rooms in selected residences to provide additional flexibility for home offices or expanded living areas. The proposed mix comprises 15 one-bedroom, 13 one-bedroom plus MPR, 73 two-bedroom, 26 two-bedroom plus MPR, 30 three-bedroom, and four four-bedroom apartments.

Rather than adopting a conventional rectilinear tower, COX Architecture has developed a sculpted form inspired by the movement of the Brisbane River.

"The proposal has been designed by COX Architecture as a 'living building' that responds to the site's riverine setting, floodplain history and evolving urban context within the Kurilpa Sustainable Growth Precinct," the planning report states.

"The architectural form draws from the fluid nature of the Brisbane River, with a curved and undulating tower form that creates a varied architectural edge and avoids a conventional rectilinear tower expression."

The podium has also been designed as an architectural feature rather than a conventional parking structure, with cascading planting, screening and natural-toned materials softening its appearance. Resident parking is elevated above ground level to address the site's flood constraints, while habitable apartments sit above flood planning levels. Upper-level communal facilities are designed to accommodate shelter-in-place arrangements during major flood events.

<img alt="First look: TRK Property joins South Brisbane apartment surge with Montague Road tower plans" data-entity-type="file" data-entity-uuid="01fa15d0-90df-46c7-9555-7941fc45373c" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/TRK%20podium.png?VersionId=mHyua.w1pHGBt9qEdWzrlsv.leztUCwO" />

Communal amenity is a major focus of the proposal. Around 1,815 sqm of shared resident space is proposed across the ground floor, level 19 and the rooftop, including co-working areas, indoor and outdoor recreation spaces, wellness facilities, dining and gathering areas, lawn spaces, a rooftop pool and spa, and extensive landscaping. At street level, a landscaped forecourt and approximately 345 sqm of publicly accessible open space along Montague Road are intended to improve the pedestrian experience while activating the building's frontage.

The development will provide 163 car spaces, including 152 resident bays and 11 visitor spaces, together with 144 bicycle spaces incorporating resident storage, visitor parking, bicycle maintenance facilities and e-mobility charging infrastructure.

The site sits within one of Brisbane's fastest-changing inner-city precincts, less than two kilometres from the CBD and within easy reach of South Bank, West End, the Queensland Cultural Centre and extensive public transport connections. The Kurilpa Sustainable Growth Precinct planning framework is encouraging higher-density residential development to help meet Brisbane's housing supply targets while supporting walkable, transit-oriented neighbourhoods.

TRK Property joins South Brisbane apartment surge with Montague Road tower plans

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]

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]

Staff reporter

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