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A multi-tenanted investment opportunity in the heart of the Southport CBD on the Gold Coast is being offered for sale via auction by Ray White Commercial Gold Coast.
The freehold building at 111 Scarborough Street is being marketed by Steven King of Ray White Commercial. It has three established tenants.
“This multi-tenanted building with holding income is very well positioned within the Gold Coast's CBD,” said King.
The two-storey corner property has a net lettable area of about 294 sqm and is on a land area of approximately 508 sqm.
"The instructions from our vendor are loud and clear – this property will be sold at auction,” said King.
The auction is on May 25.
Earlier this year in February Property Observer reported on a Southport industrial investment that was sold for $1.31 million.
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j.ballantyne1990-6AQqhLzZaK

Southport freehold investment for sale at auction

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Investment activity in Adelaide has reached new high as vacancy falls in suburban markets, according to Colliers International’s latest Metro Office report.
“There is strong demand for office assets from investors, with a record $103.87 million ($5 million+) worth of office transactions recorded in 2016," it said.
This was the highest level of investment in metro markets on record.
The largest sale was the GP plus Clinic, 16 Playford Blvd, Elizabeth, which sold for $42 million in November 2016.
This building had a 13.8 year lease term remaining and sold on a yield of 5.8 percent to Australian AREIT.
"Prime quality assets with long lease terms are in high demand across all office markets which has resulted in a tightening in yields for the suburban markets,” the report stated.
<a href="https://www.propertyobserver.com.au/images/2017/05/02/Screen%20Shot%202017-05-02%20at%202.04.41%20pm.jpg" target="_blank">Click to enlarge</a>
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/05/02/Screen%20Shot%202017-05-02%20at%202.04.41%20pm.jpg" alt="">
Colliers says that the Adelaide office market is still offering investors higher returns than some other office markets and this is driving demand.
“It is the lack of stock being offered to the market which is likely to restrict sales volumes going into 2017. New supply in the Fringe market remains limited, with most of the supply which has been added over the last 12 months being stock which has been withdrawn, refurbished and then offered back to the market."
The most recent refurbishment completed was 8 Greenhill Road, Wayville which was completed in late 2016, the report said.
This has contributed to an increase in vacancy to 11.3 percent as at January, says Colliers.
“Also contributing to the increase in vacancy is the move of Grant Thornton into the Adelaide CBD market, which resulted in -1,260 sqm of net absorption in the last six months.
This brought total annual net absorption for the fringe market to -8,126 sqm as at January 2017.
Rents in the fringe eased over the last 12 months, with Grade A effective rents falling by 4.8 percent.
This was mainly due to an easing of the top end of rents in the fringe market.
Incentives have however remained stable with a wide range of 15 to 25 percent.
There are two buildings currently under refurbishment and due to be completed in the third quarter of 2017.
These are 127-128 Greenhill Road and 100 Greenhill Road, which will add 2,742 sqm to the Fringe market and is likely to result in an increase in vacancy in the second half of 2017, said the report.
<a href="https://www.propertyobserver.com.au/images/2017/05/02/Screen%20Shot%202017-05-02%20at%202.04.49%20pm.jpg" target="_blank">Click to enlarge</a>
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/05/02/Screen%20Shot%202017-05-02%20at%202.04.49%20pm.jpg" alt="">
The fringe market has seen 8,433 sqm of withdrawals over the last two years, but most of these buildings have been refurbished rather than redeveloped.
“There has been a change in the parking restrictions along Greenhill Road, with clearways in place until 10 am and then from 3 pm. This restricts client parking and is likely to restrict demand in the future.
"Several of the buildings in the fringe market do not have disability access and therefore the first and above levels can be more difficult to lease."
When most of these buildings were built in the 1980s, there was one space allocated per 25 sqm, however, now the ratios demanded are more likely to be one space to 12 to 15 sqm, the report said.
This area has also been rezoned to allow for higher building heights and mixed use including residential.
Colliers expects that over the next five years the fringe market will see more withdrawals.
“Over the next five years we expect the Fringe market to see more withdrawals which will see new developments with a change of use. With vacancy forecast to increase for 12.7 percent over the next 12 months it is likely that rental growth in the fringe market will be limited over the next 12 months."
Incentives are expected to remain stable within the current range of 15 to 25 percent, it said.
The suburban market has seen vacancy tighten to 6.5 percent.
This is down from 7.7 percent in September 2016.
All markets saw a fall in vacancy, with the east seeing vacancy fall to 4.8 percent and the south to 1.8 percent.
New supply in the suburban market remains restrained.
The only major construction is the Port Centre at Port Adelaide.
This 3,238 sqm building is currently under construction and is due to complete in 2018.
This building is fully committed to Australian Customs on completion, said the report.
<a href="https://www.propertyobserver.com.au/images/2017/05/02/Screen%20Shot%202017-05-02%20at%202.04.59%20pm.jpg" target="_blank">Click to enlarge</a>
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/05/02/Screen%20Shot%202017-05-02%20at%202.04.59%20pm.jpg" alt="">
There are several smaller projects in the pipeline, but most are seeking pre-commitment prior to construction commencing.
Colliers says that the suburban market is very much needs based and therefore tends to have lower vacancy as there is limited speculative development in this market.
“Rental growth in the suburban market has remained stable over the last 12 months with a rental range of $265 to $335 per sqm net. Incentives have also remained stable, within a range of 15 to 25 percent."
With vacancy falling it is more likely that incentives may begin to fall which will lead to growth in net effective rents, said the report.
An example would be 1284 South Road, Tonsley (above) which has been leased.
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Adelaide office investment at new high: Colliers

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Malaysian developer UEM Sunrise says it is seeing strong demand for strata offices at its Aurora Melbourne Central development, which it attributes to a combination of low supply in the CBD and record low rates.
At Aurora Melbourne Central, the total sales are now more than 75 percent, reaching record rates of $10,350/sqm, the company said.
Citing Colliers International data, it said prior to Aurora, the latest strata office projects have sold for roughly $8,000/sqm at 580 Collins Street and $7,500/sqm at 838 Collins Street.
Aurora Melbourne Central is a 92-storey skyscraper comprising residential, serviced apartments, retail and offices. 
Colliers’ head of Office Sales, Chris Ling, said the location, quality of the project and its direct connection to Melbourne Central station and shops is driving a premium.
“Additionally, the extremely low supply of strata office in the CBD and fringe area is driving demand from both local investors and offshore investors – many of whom have typically been focused on retail, but have been priced out with yield compression and are looking to office spaces instead,” said Ling.
Investors make up about 50% of sales with overseas buyers mostly from Hong Kong, Malaysia and Singapore.
“Adding to that, many owner occupiers are relocating to the CBD as the amenities and access for clients and staff is far more superior, and it’s this group where we’ve seen substantial demand from,” he said.
Also, existing tenants are capitalising on the record low interest environment and looking to purchase their own office as a more viable option, taking advantage of lease expiries to enter the property market.
The owner-occupier buyers so far include a cosmetics group, an education provider, and a property developer for their office space.
The company said it has sold 100% of the residential units and more than 75% of the strata offices to date.
CEO of UEM Sunrise Anwar Syahrin Abdul Ajib said Aurora was popular with owner occupiers it was the “perfect location for commercial office spaces,” because of the direct connectivity to the train station. 
“Having sold 100% of the residential units with record momentum, we are very pleased with the successful sale of over 75% of the strata offices to date.”
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UEM Sunrise says strong strata office sales at its Melbourne CBD development

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A Brian Mazlin designed Pearl Beach retreat has been listed for May auction.
The three bedroom, <a href="https://www.realestate.com.au/property-house-nsw-pearl+beach-124234214" target="_blank">Green Point Road</a> home that is nestled in private bushland was designed by the acclaimed architect in 1963.
It received a restoration and interior design by TFAD in 2010. It has been constructed and renovated in the classic Mid-Century style.
Its floor-to-ceiling glass blends Mazlin’s early vision and TFAD’s contemporary design.
<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/2017/05/16/Pearl1.jpg" alt="" width="420" height="238">
Spanning over 126 sqm of internal space over two levels, it offers three bedrooms, three bathrooms, and a verandah-wrapped elevated platform to enjoy the views along Pearl Beach. 
The upper level accommodates the main living, dining and kitchen areas, as well as the master bedroom with ensuite, second bedroom and main bathroom. 
Beneath is the guest suite, comprising of a bedroom and bathroom opening up to front garden of native plants.
A four bedroom home at <a href="https://www.realestate.com.au/sold/property-house-nsw-pearl+beach-125221082" target="_blank">1 Coral Crescent</a> sold for $1.98 million in May 2017.
Another four bedroom property at <a href="https://www.realestate.com.au/sold/property-house-nsw-pearl+beach-124696434" target="_blank">4 Diamond Road</a> traded for $1.28 million in March 2017.
Modern House principal Marcus Lloyd-Jones is the listing agent.
The Pearl Beach median house price sits at $937,500.
 
 
 
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Brian Mazlin 1960s Pearl Beach classic listed for auction

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Lending to owner occupiers to build or buy a new home increased by 4.3 percent in March 2017 after month on month declines in January and February, according to the Australian Bureau of Statistics.
Loans to buy a new dwelling were up by 1.9 percent on the previous month.
Lending during the full March 2017 quarter was down by 0.4 percent on the level a year earlier.
Geordan Murray, economist, HIA, said after the housing finance figures showed a relatively soft start to the year, a jump in March saw the number of loans to owner-occupiers building or buying new homes increase by 4.3 percent.
“The increase in new home lending during the month was primarily driven by an increase in the number of loans to those purchasing new homes, which were up by 9.5 percent in the month," he said.
"Furthermore, during the full March 2017 quarter lending activity in this part of the market was 8.1 percent higher than a year earlier.
"The number of loans to owner-occupiers constructing or purchasing new homes during the March 2017 quarter was stronger than a year earlier in five of the eight states and territories.
The largest increase was recorded in Queensland (+10.9 percent), followed by Tasmania (+10.1 percent), Victoria (+9.2 percent), South Australia (+6.5 percent), and New South Wales (+3.8 percent).
The largest fall was recorded in the Northern Territory (-35.5 percent), followed by Western Australia (-7.6 percent) and the ACT (-2.4 percent).
"A growing number of apartment projects that have been under construction over the last couple of years are now reaching completion.
"This means that buyers who purchased off the plan are now reaching the settlement stage.
"We expect to see lending in this part of the market continue to rise over the year ahead as more apartment projects reach completion."
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Lending to owner occupiers to build or buy up in March

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A concept design has been developed to disguise the sky rail overpasses being built along Melbourne’s busiest train corridor.
The design features a light-weight reflective membrane that can be used during construction or retro-fitted to existing structures.
Sean Hogan, a senior development manager with development firm ISPT, said the mirror-like material would reflect surrounding landscaping at ground level, hiding the concrete structure while reflecting and drawing the eye to the landscaped areas below.
“Many of the areas where the sky rail is being constructed are established residential zones where local businesses, homes and public areas will be impacted," he said.
"My concept aims to improve the public amenity in a cost-effective and relatively swift manner, to significantly reduce the visual impact of the concrete structures. 
"The Government should take on the responsibility to create a more appropriate visual outcome, especially around built-up residential areas where view lines will be grossly impacted.
“I wanted to explore how we could create spaces under and around the viaducts where people feel comfortable and want to linger.
There is the potential to create some real amenity by leveraging off the landscape and making the concrete structures almost invisible to local residents and passers-by.
"The act of eradicating level crossings is a sound one so I am not opposed to the sky rail itself, however I believe that the Government needs to be doing more to ensure these concrete structures will not impact on the amenity of the surrounding areas,” he said.
 “This is still just a concept, so there is plenty of detail to be explored. 
<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/2017/05/15/Bridge-HorizontalPattern_20161219-1200.jpg" alt="">
"The primary consideration is creating amenity in areas of high public use and visibility. 
"This could be applied in precincts where landscaping is in place or proposed to be provided. 
"The reflective nature of the cladding could then increase the effect of this greenery. 
"It was never envisaged to cover the entire length of the sky train structures but to be applied in the more sensitive areas.”
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Concept design to disguise Melbourne's sky rail

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A modern two-storey house at Deakin has been sold for $1.694 million making it Canberra’s most expensive weekend auction sale.
Located at <a href="https://www.realestate.com.au/property-house-act-deakin-125275538" target="_blank">13 Newdegate Street</a>, the property has natural light laid out in a suitable manner for indoor/outdoor entertaining.
Featuring separated areas for formal lounge, formal dining and casual family living space it also has a gourmet entertainer’s kitchen with breakfast bar seating.
There are four bedrooms including an upper level master retreat complete with its own private study, walk-in wardrobe, spa bath ensuite and balcony overlooking the surrounding area.
<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/2017/05/14/13%20Newdegate%20Street-2.jpg" alt="">
Outdoor includes a large sheltered dining patio overlooking the garden and surrounds.
Other features includes automatic double garage with internal access.
Close proximity to Deakin shops as well as Woden Town Centre and the City Centre.
The property was offered through LJ Hooker agents Stephen Thompson and Lauren McDonald.
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Modern two-storey Deakin house sold for $1.694 million

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An architecturally designed new home with panoramic ocean views in Yandina Creek, Queensland has been for sale.
It comes with a price guide of $765,000 plus.
The three bedroom home at <a href="https://www.realestate.com.au/property-house-qld-yandina+creek-124563622" target="_blank">28-30 Carnarvon Court</a> (above) sits in a private cul-de-sac on a 0.8 hectare block.
It is set against a serene bush backdrop and views of Mt Coolum to Noosa.
Yandina Creek is located just minutes to Coolum Beach.
With a median house price of $591,250, Yandina Creek commands higher than Queensland's state average of $462,500.
A six bedroom home at <a href="https://www.realestate.com.au/sold/property-house-qld-yandina+creek-124018110" target="_blank">75 Musgrave Drive</a> (below) was sold for $1.52 million in Apr 2017.
<img src="https://www.urban.com.au/images/2017/05/16/Screen%20Shot%202017-05-16%20at%209.23.41%20AM.png" alt="">
A four bedroom family property at <a href="https://www.realestate.com.au/sold/property-house-qld-yandina+creek-123965190" target="_blank">19 Country Coolum Drive</a> (below) traded for $715,000 in December 2016.
<img src="https://www.urban.com.au/images/2017/05/16/Screen%20Shot%202017-05-16%20at%209.24.38%20AM.png" alt="">
The property is represented through McGrath Buderim agent Ambre Perry. 
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Yandina Creek trophy home listed for sale 

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Palmview’s largest masterplanned community, Harmony, has fast-tracked the release of its latest land lots.
The $3 billion residential project is located on the Sunshine Coast, within close proximity to amenities including the University of the Sunshine Coast, the new Kawana healthcare precinct and shopping strips at Sippy Downs and Kawana.
Developer AVID Property Group has now released an additional 91 land lots at Harmony, following an increased appetite for affordable land options in the region and the median price of land rising by almost 5 per cent from 2015 to 2016.
“Residential property demand is surging in the region and as prices continue to rise, buyers are increasingly looking for affordable land options,” said Bruce Harper, AVID Property Group Queensland general manager.
“With new land lots starting from $218,400, the masterplanned community is catering to wide range of buyers and delivering affordable land lots in the heart of the Sunshine Coast,” he explained.
The population of the Sunshine Coast projected to grow to almost 453,000 by 2036, with Harmony anticipated to deliver more than 4,800 homes for 12,000 future residents.
“As one of Australia’s premier lifestyle destinations, there’s no wonder buyers are flocking to the area with its pristine beaches and beautiful hinterland right at your doorstep,” Harper added.
Since its official launch last year, Harmony has become the first ‘6 Leaf’ EnviroDevelopment masterplanned community to be certified in South East Queensland by the Urban Development Institute of Australia.
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Harmony land release to meet demand on Sunshine Coast 

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The Northern Beaches had the highest weekend auction clearance rate in Sydney, according to CoreLogic’s latest report.
The property data firm says that out of the 70 auctions in the Northern Beaches 91.4% resulted in a successful outcome.
This is followed by Ryde with 88.6% and Sutherland with 86%.
<a href="https://www.propertyobserver.com.au/images/2017/05/15/Screen%20Shot%202017-05-15%20at%2010.08.31%20am.jpg" target="_blank">Click to enlarge</a>
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/05/15/Screen%20Shot%202017-05-15%20at%2010.08.31%20am.jpg" alt="">
Out of the 48 auctions in the South West only 62.5% were cleared placing the locality last with the lowest weekend auction clearance rate.
A four bedroom house at <a href="https://www.realestate.com.au/sold/property-house-nsw-balgowlah+heights-125272250" target="_blank">13 Gertrude Street</a>, Balgowlah Heights (above) was sold for $2.45 million.
Similarly a two bedroom house at <a href="https://www.realestate.com.au/sold/property-house-nsw-north+narrabeen-125254714" target="_blank">39 Alleyne Avenue</a>, North Narrabeen (below) was sold for $1.71 million.
<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/2017/05/15/39%20Alleyne%20Avenue.jpg" alt="">
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Northern Beaches scores top weekend auction clearance rate of 91%: CoreLogic

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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