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In calendar year 2016, metro investment volumes as a proportion of total Sydney CBD and metro sales were 57 percent with $3.9 billion in transaction volumes recorded compared to the CBD’s $2.9 billion, according to Colliers International's latest Metro Office report.
"On a 10 year average, metro sales make up 37 percent of combined CBD and metro sales each year, and for 2017 year to date, metro sales volumes have already reached 43 per cent,” the report stated.
Scarcity of investment supply and strong demand drove down metro yields during 2016 Colliers says.
“We expect A Grade metro yields to compress further as offshore groups continue to seek metro office assets to deploy capital, as investment-grade stock within the CBD remains limited.
"Market fundamentals for vendors continue to strengthen, with the Sydney-wide trend of constrained supply placing upward pressure on net effective rents,” the report advised.
Suburban peripheral markets are especially impacted by residential encroachment, heightening tenant activity as displaced tenants source alternative accommodation according to Colliers.
“Furthermore, investment in infrastructure and amenity has contributed to an uplift in rent and competition for space, especially within core metro markets such as Parramatta and North Sydney.
"Average A Grade yields for Sydney Metro have tightened by 47bps over the past 12 months to average 6.79 percent in March 2017, and the secondary market has experienced a tightening of 56bps to average a current yield of 7.74 percent.
"Taking into consideration market fundamentals and rental outlook, the purchasers of secondary metro assets will most likely be opportunistic, seeking value add opportunities,” the report stated.
Further compression of metro/office property is likely, Colliers says.
“Furthermore, the spread of 5.01 percent over the risk free rate for secondary assets suggests further significant compression is likely," it advised.
Metro office assets is still appealing to investors Colliers states.
"While metro markets have enjoyed above-average yield compression over the last six months, metro office assets still present an appealing case to investors, Coliers suggested, as the yield premium to CBD assets is currently 120bps.
"The recent offering in North Sydney of 116 Miller Street and 173 Pacific Highway (opposite the future Victoria Cross metro station) and Dexus’ Phillip Street development in Parramatta (pre-committed by the Department of Education for a 12 year term) should see the yield spread between CBD and metro assets narrow,” the report advised.
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Scarce supply of Sydney investment despite strong demand driving down metro yields: Colliers

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Queensland’s economic recovery remains on track, recording its fourth consecutive quarter of growth, expanding by 0.9 percent in Q4 2016, the strongest quarterly result in more than four years, according to Cushman &amp; Wakefield's latest report. 
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"Growth in public investment and stronger household consumption underpinned the positive result, offsetting weakness in private investment.
Brisbane’s occupier market continues to be driven primarily by transport, logistics and construction industries.
Tenant demand continues to improve as tenants take advantage of competitive rents and attractive terms in the prime market," the report stated.
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Volvo has recently committed to a long-term lease, of ~10,000 sq m in the Metroplex Westgate industrial park, for their Australian head office and service centre.
Rental values have remained mostly stable over the last six months, with North and Trade Coast at a premium to other markets in Brisbane.
Prime net face rent in these areas are generally $10-$20 more per sq m for assets &lt;4,000 sq m.
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"Infrastructure projects, such as Transurban’s Logan Enhancement Project, are likely to result in increased tenant demand in the South and West markets, potentially leading to greater upward pressure on rents than seen recently.
"Investment volume totalled $88m in Q1 2017, down from $173m in Q4 2016.
"The South led again in terms of total investment volume, underpinned largely by Deutsche Asset Management’s acquisition of 60-80 Southlink Avenue, Parkinson for approximately $37m," the report said.
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"As a result of ongoing investment, prime yields in the South have compressed a further 25 bps over the past six months.
Occupier and investor demand is expected to strengthen in line with Queensland economic and industrial production growth," the report predicts.
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"While we expect investor demand to remain robust, more restrictive financing terms may see potential owner-occupier refocus on leasing assets rather than acquiring them.
This should provide further support for increased leasing activity going forward," the report advised.
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Private investment in Brisbane's industrial market weakens

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A retail investment in South Yarra with a long-term tenant has sold for $843,000 to a local first-time commercial investor.
The 64 square metre building at 5/159A Williams Road was sold on a yield of 4.7 percent.
Ray White Commercial Oakleigh’s George Kelepouris sold the property on behalf of a local owner.
“The tenant initially took out a three-year lease in November, 2014, and has a further 2 x 3 year options,” he said.
“This property is an outstanding Hawksburn Village location and is returning net rental of almost $40,000 per annum.
“It was ideal for a self-managed super fund or as a passive investment.”
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Retail property in Hawksburn Village, South Yarra sold

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The outlook for retail markets in Brisbane continues to be generally positive, according to Herron Todd White’s latest report.
The property valuation firm says that however there is now an increasing perception that yields may finally have reached a low point.
“To put the story of recent years into perspective, we have seen retail yields generally move by between 150 and 200 basis points, which based on a starting yield of say 8 percent, translates to capital growth of upwards of 25 percent over a three year period.
 In some instances, capital growth has been upward of 35 percent,” the report stated.
Sales activity has been moderate for the quarter.
Major transactions include Arana Hills Kmart at $67 million, Everton Plaza at $27.5 million and Caboolture Square at $27.5 million.
These showed yields of between 6 percent and 7.25 percent.
At the convenience end of the spectrum there has been less activity with only two centres selling under $10 million.
Both of these were in the North Lakes region and showed yields of between 6.5 percent and 7 percent, the report stated.
Overall, the volume of sales activity has generally been low, primarily as a result of a shortage of stock and lack of other strong yielding investment options.
“With the perception however that yields will be bottoming out, we anticipate a rise in investment sales activity, particularly if interest rates start to rise and there is any suggestion of capital values starting to fall,” the report predicted.
Retail rentals continue to be reasonably restrained with ongoing difficult trading conditions in many sectors putting the brakes on rental growth.
The weakness is evident across the board as high levels of competition, flat wages, internet retailing and changing consumer shopping patterns all contribute to a very tough retail environment.
Good buying opportunities in the market are limited at present as all reasonable assets are heavily scrutinised by a wide number of investors.
There is potentially some more opportunity to value add with secondary centres but even these are holding their value fairly well making owners reluctant to sell.
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Brisbane's retail market outlook remains positive: HTW

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The retail segment in Darwin in 2017 will experience its greatest shake up for many years when not one but two new regional shopping centres will open their doors for business, according to Herron Todd White’s latest report.
The property valuation firm says that Gateway is located on the highway on the fringe of Palmerston CBD, 18 kilometres south-east of Darwin.
This is a joint venture project between the Coombes Property Group (with local connections) and Challenger, being constructed by Hutchinsons.
It will offer a Woolworths, Big W, cinema complex and over 100 specialties and is expected to open mid-year.
Also expected to open mid-year is Coolalinga Village, located in the Darwin rural area 25 kilometres south-east of Darwin on the opposite side of the track from a large Woolworths-based complex.
Coolalinga Village is being developed by Gwelo, a long-standing Darwin developer and will be anchored by Coles and K-Mart.
There is already a fast food outlet and a service station on the site, but the main development will accommodate additional specialties with further stages already planned.
“We will therefore move from a situation where Darwin’s main growth corridor to the south-east has been under serviced by retail for many years to a situation where Palmerston and rural area residents will be spoilt for choice.
Not only will these two major centres be an option, but also new smaller centres at Bakewell, Rosebery, Bellamack and Zuccoli which are already trading or, in the case of Zuccoli, will be trading soon.
When you add to this the existing Palmerston Shopping Centre and Oasis Shopping Centre, the options are quite wide,” the report stated.
The effects on the rental market for retail space remain to be seen but the increased competitive tension between all these centres does result in some choices for tenants which have not always been available in the past.
"This may place some downward pressure on rents however if each centre can attract sufficient patronage this may not be the case," the report warned.
Certainly there will be some effect on Casuarina, which is currently Darwin’s dominant retail precinct.
"Casuarina is disadvantaged by its location in the northern suburbs which is close to the hospital and university but somewhat removed from the south-east urban growth corridor.
Casuarina is already re-inventing itself as a destination rather than just a mall retailer, with a new restaurant and entertainment precinct," the report advised.
At present, anecdotal evidence is pointing to population decline across Darwin and unless a major employment driver emerges soon, then this population decline will inevitably result in reduced trading for all retailers and difficulties for each centre attracting sufficient patronage.
“We are seeing weakness across all property segments in Darwin at the moment and the challenge will be to ensure sufficient population growth to ensure the viability of all these new outlets as well as existing facilities,” the report stated.
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Darwin's retail market to get a boost due to new retail developments

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Tenant contraction in Macquarie Park is not expected to continue, according to Colliers International’s latest Metro Office report.
“While Macquarie Park has experienced tenant contraction over the last six months, we don’t expect this to continue as tenants continue to be priced out of North Sydney and Chatswood leading them to consider Macquarie Park as a viable alternative.
"After a decade of next to no net effective rental growth over the last six months, net effective rents have increased 9.8 per cent and 13.6 per cent for A and B Grade respectively.
"Underpinning current and future rental growth is the ongoing residential rezoning taking place in peripheral suburban markets such as Epping and Frenchs Forest, as displaced tenants seek alternative accommodation within Macquarie Park,” the report stated.
Colliers says that Macquarie Park is able to outcompete Chatswood for office tenants.
“Despite Chatswood being seen as a direct competitor for office tenants, the floor plates offered are restricted by size and Macquarie Park is able to accommodate tenants looking for larger, more efficient floor plates.
"The next two years should see 90,000sqm of office space supplied at 45 Waterloo Street (25,000sqm is precommitted to the NSW Government) and we expect this to satisfy demand for larger floor plate users that are unable to secure such space in denser metro markets,” the report advised.
Macquarie Park is expected to be the centre of office organisations Colliers says.
“Furthermore, Macquarie Park is expected to become a primarily residential and office centre as organisations begin to shift their industrial function to dedicated western and south western industrial markets.
"According to the PCA, vacancy increased from 7.1 per cent to 7.5 per cent in the six months to January 2017 with net absorption registering -7,475sqm for the period,” the report stated.
A 90 sqm office at <a href="https://www.realcommercial.com.au/property-offices-nsw-macquarie+park-502164638">32 Dehli Road</a>, Macquarie Park (above) has been listed for $575,000.
Similarly a 214 sqm office at <a href="https://www.realcommercial.com.au/property-offices-nsw-pymble-502349046">Suite 11 19 Bridge Street</a>, Pymble (below) has been listed for $800,000.
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Tenant contraction in Macquarie Park expected to not continue: Colliers

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Sydney’s retail market has grown substantially over the past 12 months, according to a recent Herron Todd White report.
The property valuation firms says that the retail market in Sydney has seen substantial growth over the past 12 months as a result of increased demand for good investment assets, growth in rental income and generally lower vacancy rates.
The next 12 months look set to follow a similar trend. Increased demand from investors will continue to drive the market.
Properties with established retail tenants will be popular this year.
“Late in 2016 we saw some strong sales which showed tight capitalisation rates for assets with strong lease covenants, including some with sub 5% capitalisation rates in the Sydney CBD,” the report stated.
The demand for CBD assets remains strong as the buzz around infrastructure improvements continues.
Generally rents look likely to remain stable this year, HTW noted although an increase in prime locations was evident in 2016 with a strong probability of this continuing in 2017.
"Recent media coverage of failing fashion retail chains may have some impact on demand from tenants.
"However food and beverage outlets seem to be going strong in most locations, with demand for these types of retail properties likely to continue.
"Suburban retail assets with good lease covenants have also seen growth over the past 12 months.
"This is likely to continue as investors look for strong performing assets with future growth potential."
Strip retail with a history of good retail trade such as King Street, Newtown; Darling Street, Balmain; and Crown Street, Surry Hills have all seen an increase in sales activity which looks set to continue in an upward trend in 2017.
Looking ahead, the outlook for retail in Sydney overall remains positive for 2017, HTW added.
“We expect prime locations to continue to perform well along with properties perceived to have growth or redevelopment opportunities in the future.
"That said we are of the opinion that the market is reaching the peak of the cycle and any tightening of monetary policy or increase in the cost of debt will result in the prevailing investment yields not being sustainable.
"For the time being though, all signs are that 2017 will be a good year for retail assets,” the report stated.
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Sydney retail market rises while rents remain steady: HTW

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The total number of new listings in Melbourne has increased, according to CoreLogic’s latest report.
The property data firm says new listings in Melbourne are up by 6.4 percent over the same time last year to 8,010.
However the number of total listings has declined slightly by 0.6 percent to sit at 28,788.
<a href="https://www.propertyobserver.com.au/images/2017/05/22/Screen%20Shot%202017-05-22%20at%2012.19.52%20pm.jpg" target="_blank">Click to enlarge</a>
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This is in contrast to Perth where the total number of new listings have declined by 5.1 percent compared to the same period last year.
A month ago there were 7400 new listings across Melbourne.
 
<a href="https://www.propertyobserver.com.au/images/2017/04/10/Screen%20Shot%202017-04-10%20at%2011.48.24%20am.jpg" target="_blank">Click to enlarge</a>
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A two bedroom apartment at <a href="https://www.realestate.com.au/property-apartment-vic-melbourne-125524614" target="_blank">G17/61 Mackenzie Street</a>, Melbourne (above) has recently been listed for between $760,000 to $830,000.
Similarly a three bedroom house at <a href="https://www.realestate.com.au/property-house-vic-attwood-125524294" target="_blank">56 Ardlie Street</a>, Attwood (below) has recently been listed for an estimated price reserve of between $700,000 to $750,000.
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Melbourne new listings spurt to 8,010: CoreLogic

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A five bedroom elevated Red Hill house has been sold for $1.541 million making it Canberra's most expensive weekend auction sale.
Located at <a href="https://www.realestate.com.au/sold/property-house-act-red+hill-125308426" target="_blank">26 Fishburn Street</a>, the property that overlooks a treetop landscape had last sold at $1.38 million in 2015.
The 1960s home, with 1990s renovation, was marketed with additional potential for redevelopment or renovation.
Its five bedrooms all have ensuite and built-in wardrobes.
There is also a study amid its 240 sqm space on its 1248 sq m holding.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/05/21/26%20Fishburn%20Street-2.jpg" alt="">
Recent upgrades include new Colorbond roofing and gutters, carpets and fresh paintwork.
The property was offered through Peter Blackshaw Real Estate agents Andrew Chamberlain and Alec Brown.
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Elevated Red Hill house sold for $1.541 million

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A four bedroom 1907 Queen Anne Federation house at Camberwell has been sold for $5.02 million making it Melbourne’s most expensive weekend auction sale.
Located at <a href="https://www.realestate.com.au/sold/property-house-vic-camberwell-125286186" target="_blank">28 Kintore Street</a>, Croydon is positioned in the highly-prized Tara Estate close to Junction shopping.
It last sold in 1994 for $650,000.
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The century-old charmer has been brought into the 21st century with a recent renovation that keeps its period beauty intact on almost 900q m.
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The property was offered through Jellis Craig agents Alastair Craig and Mark Josem who had a price guide of $4.5 to $5 million.
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Federation Camberwell house sold for $5.02 million

Apartment buyers in New South Wales are set to gain a decade of insurance-backed protection against major building defects, after the NSW Parliament passed the Fair Trading and Building Legislation Amendment Bill 2026.&nbsp;

The Bill establishes decennial defect insurance, known in the market as Latent Defects Insurance (LDI), as an alternative to the existing two-year strata building bond. It cleared the Legislative Council with amendments on Tuesday evening (August 4, 2026), with the Legislative Assembly agreeing to those amendments shortly after.

Under the reform, eligible developers can satisfy their statutory bond obligation by taking out an approved decennial-style policy that gives owners 10 years of cover for major structural defects from completion, claimable directly, without first having to pursue developers or builders through costly legal action.&nbsp;

The change forms the final tranche of amendments arising from the 2021 statutory review of the Strata Schemes Management Act 2015 and related legislation.

Resilience Insurance, which originated the cover in Australia and has delivered it in NSW since 2022, welcomed the passage and credited the NSW Government for delivering it.

“This is protection apartment buyers have needed for a long time, and the credit for delivering it belongs to the NSW Government,”&nbsp;said Corey Nugent, CEO of Resilience Insurance.

“Minister Chanthivong and his team have shown real leadership in replacing an outdated two-year bond with cover that matches the lifespan of the buildings people are buying into. Reform like this is what good, evidence-based regulation looks like.”

Resilience has delivered LDI in NSW since 2022, protecting thousands of apartments, giving the State, and now the country, real-world evidence of how decade-long, no-fault protection works in practice.

The reform also places NSW within a wider national shift.

NSW is the third jurisdiction to put decennial cover into law. The ACT legislated for it in 2024, with the scheme taking effect in late 2025, and Victoria passed its own framework on 17 June. Between them, the three cover the majority of Australia's apartment market.

The reform commences once the legislation is proclaimed, which is expected in the coming weeks. From that point, developers of Class 2 residential apartment buildings can meet their statutory obligation with an approved decennial policy in place of the bond.

Buyers who purchased into projects that took out the cover early are among the first in the country to take keys to apartments carrying decade-long structural protection.

“With the legislation passed, the focus now turns to making it work for buyers,”&nbsp;Nugent said.

“There are already thousands of apartments in NSW covered by this insurance, bought by developers who moved early. The question every buyer should be asking in a display suite is a simple one: does this building come with 10-year defect cover, and who stands behind it?&nbsp;

“We look forward to working with the Government and the Building Commission in coming weeks as the framework moves to implementation, and to sharing what we have learned over the past four years so the protection reaches owners as smoothly and quickly as possible.”

Other states are working through their own reform programs. Western Australia has indicated that decennial cover is within consideration a later stage of its reform sequence, and Queensland has been examining the settings as it looks at the development pipeline ahead of the 2032 Olympics.

Resilience Insurance acknowledges the NSW Government’s continued focus on strengthening consumer protection while supporting housing delivery across the State.

Fast Facts: What the reform means

<ul style="color:#222222; font-family:Arial, Helvetica, sans-serif; font-size:small; font-style:normal; font-variant-ligatures:normal; font-weight:400; text-align:start; white-space:normal; background-color:#ffffff; text-decoration-thickness:initial; text-decoration-style:initial; text-decoration-color:initial">
	<li style="margin-left:15px; font-family:Aptos, Arial, Helvetica, sans-serif; font-size:12pt; color:#000000">Proven at scale:&nbsp;Decennial cover has operated in NSW since 2022, protecting thousand of apartments.</li>
	<li style="margin-left:15px; font-family:Aptos, Arial, Helvetica, sans-serif; font-size:12pt; color:#000000">10 years of cover:&nbsp;Protection for major structural defects runs for a decade from completion, claimable directly and with no legal action required.</li>
	<li style="margin-left:15px; font-family:Aptos, Arial, Helvetica, sans-serif; font-size:12pt; color:#000000">An alternative to the bond:&nbsp;Eligible developers can meet their statutory obligation with an approved decennial-style policy in place of the 2% strata building bond.</li>
	<li style="margin-left:15px; font-family:Aptos, Arial, Helvetica, sans-serif; font-size:12pt; color:#000000">Part of a national shift:&nbsp;The ACT has had decennial provisions in force since 2025 and Victoria passed its framework in June. NSW now joins them.</li>
	<li style="margin-left:15px; font-family:Aptos, Arial, Helvetica, sans-serif; font-size:12pt; color:#000000">No-fault, first resort:&nbsp;Owners corporations claim directly from the insurer without first having to establish who is liable for the defect.</li>
	<li style="margin-left:15px; font-family:Aptos, Arial, Helvetica, sans-serif; font-size:12pt; color:#000000">Cost-competitive:&nbsp;At approximately 1.8% of build cost, LDI is typically priced below the 2% bond while offering broader, longer protection.</li>
	<li style="margin-left:15px; font-family:Aptos, Arial, Helvetica, sans-serif; font-size:12pt; color:#000000">Market position:&nbsp;Resilience originated LDI in Australia and has delivered it in NSW since 2022.</li>
</ul>

Fast Facts: What is Resilience LDI?

<ul style="color:#222222; font-family:Arial, Helvetica, sans-serif; font-size:small; font-style:normal; font-variant-ligatures:normal; font-weight:400; text-align:start; white-space:normal; background-color:#ffffff; text-decoration-thickness:initial; text-decoration-style:initial; text-decoration-color:initial">
	<li style="margin-left:15px; font-family:Aptos, Arial, Helvetica, sans-serif; font-size:12pt; color:#000000">Resilience Latent Defects Insurance (LDI):&nbsp;Covers major structural defects for 10 years from completion.</li>
	<li style="margin-left:15px; font-family:Aptos, Arial, Helvetica, sans-serif; font-size:12pt; color:#000000">Consumer-first:&nbsp;Direct claim access, no need for lengthy legal action.</li>
	<li style="margin-left:15px; font-family:Aptos, Arial, Helvetica, sans-serif; font-size:12pt; color:#000000">Cost advantage:&nbsp;At approximately 1.8% of build cost, LDI is typically priced below the traditional 2% Strata Bond while offering broader protection.</li>
	<li style="margin-left:15px; font-family:Aptos, Arial, Helvetica, sans-serif; font-size:12pt; color:#000000">Market leader:&nbsp;&nbsp;Resilience Insurance originated LDI in Australia and is the national market leader.</li>
</ul>

Joel Robinson

NSW parliament passes 10-year defect insurance laws for new apartment buyers

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.

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]

Staff reporter

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