<html><body>
The latest research from St Kilda Road Cityscope shows commercial property sales activity decreased in the past three months.
Sales recorded in the quarter ending April 2017 totalled $294.1 million from 367 sales, a decrease from the 162 sales totalling $409.5 million recorded to January 2017.
This data brings the 12-month total to $879.5 million from 747 sales, a slight increase from the $808.1 million from 709 sales recorded over the previous year.
The table below shows sales recorded for the past eight updates of St Kilda Road Cityscope.
<a href="https://www.propertyobserver.com.au/images/2017/04/12/Screen%20Shot%202017-04-12%20at%207.26.19%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/2017/04/12/Screen%20Shot%202017-04-12%20at%207.26.19%20pm.jpg" alt="">
Recent standout sales in St Kilda Road include:
<ul>
<li>NLC Building at 102 Albert Road, South Melbourne, a six-storey office building with parking space for 106 cars on a site of 1,850 sqm, which was bought for $24.4 million;</li>
<li>9-11 Palmerston Crescent, South Melbourne, a two-storey concreate office building with five car parking spaces to the rear on a site of 488 sqm, which was bought for $5.5 million;</li>
<li>Unit 3401 of Royal Domain Tower, at 368 St Kilda Road, Melbourne, a three bedroom easterly apartment located on level 34 of a 42-storey residential building completed in 2006, including two car parking spaces which were bought for approximately $3.36 million.</li>
</ul>
<a href="https://www.propertyobserver.com.au/images/2017/04/12/Screen%20Shot%202017-04-12%20at%207.26.50%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/2017/04/12/Screen%20Shot%202017-04-12%20at%207.26.50%20pm.jpg" alt="">
Properties for sale in St Kilda Road in April 2017 include:
<ul>
<li>Units 706, 708, 709 and 710 of The Jewel, at 566 St Kilda Road, Melbourne, four commercial suites located on level seven of an eight-storey office building with two levels of underground parking, through Prime Property Partners Australia;</li>
<li>Unit 403 at 434 St Kilda Road, Melbourne, a 63 sqm commercial suite located on level four of a seven-storey office building with basement and ground floor parking for 75 cars constructed in 1971, through CVA Property Consultants.</li>
</ul>
Significant leasing opportunities in St Kilda Road in April 2017 include:
<ul>
<li>Tabcorp Building at 4-6 Bowen Crescent, Melbourne, a 14-storey office building with 5-level car parking area providing a total of 200 spaces, which has office space ranging from 1,000 to 8,225 sqm available through JLL Melbourne;</li>
<li>Ansvar House at 432 St Kilda Road, Melbourne, a 13-storey office building with a 2-level, 124-space basement parking, which has office space ranging from 265 to 1,474 sqm available through JLL Melbourne; and</li>
<li>VACC House at 464-466 St Kilda Road, Melbourne, a three and eight-storey office building designed in a stepped form with car parking for about 180 cars, which has office space ranging from 340 to 2,726 sqm available through Cushman &amp; Wakefield.</li>
</ul>
A wave of residential conversion activity in the St Kilda Road precinct over the past two years has revitalised the suburb’s office market, with secondary stock replaced by an injection of fresh retail amenity according to CBRE Viewpoint.
It noted the future of office in the St Kilda Road precinct with the impact the withdrawal of 51,500sqm office accommodation for residential conversion has had over the past two years.
Over the past five years, prime vacancy in St Kilda Road has trended downwards off a peak of 14.2% in 2011, with a prime vacancy of 6.0% currently below the CBD average of 6.5%.
The decline in vacancy, coupled with growing tenant demand, helped drive a 2.5% increase in rents over 2016 and drop in incentives to 22%.
CBRE Advisory &amp; Transaction Services – Office, Director, Anthony Park said the absorption of secondary assets in St Kilda Road had helped bring new life to the precinct.
“Furthermore as secondary office buildings are withdrawn from the market, it has forced remaining building owners to improve their assets to ensure they are well placed to meet the demands of the modern occupier.
“These improvements combined with the tightening of the market have seen solid face rent growth and the pulling back of incentive levels - resulting in healthy effective rental growth.”
The report shows two diverging stories between St Kilda Road’s prime and secondary grade office however, with the latter recording 17.2% vacancy.
CBRE Senior Research Analyst Anne Flaherty said a flight to quality and increased affordability of space in the CBD had supported the rise in secondary vacancy.
“Over the past five years, the additional cost to rent secondary grade space in the CBD over St Kilda Road has trended downwards,” Ms Flaherty said.
“However, this has also provided greater opportunities for developers, with 90% of the total 85,400sqm withdrawn over the past decade considered to be secondary space.”
Over the next three years, eight office buildings with a combined 56,000sqm of space will be withdrawn from St Kilda Road for residential conversion.
Despite the precinct seeing further withdrawals over the coming years, it would remain a key commercial office hub.
“A growing labour force, combined with shrinking supply should help to support lower vacancy and rent growth in the St Kilda Road market over the next five years,” Ms Flaherty added.
</body></html>

j.ballantyne1990-6AQqhLzZaK

St Kilda Road commercial property update: Cityscope

<html><body>
The RBA has noted that some banks had curtailed lending to some segments of the housing market, notably the Brisbane apartment market, where the supply of apartments was expected to increase significantly, raising the risks associated with oversupply. 
But the RBA acknowledged reports of settlement failures had remained isolated.
Conditions in housing markets continued to vary considerably across the country, the April minutes noted.
"The established markets in Sydney and Melbourne appeared to have strengthened further, but housing prices had continued to fall in Perth.
"The additional supply of apartments scheduled to come on stream over the subsequent couple of years in the eastern capital cities was expected to put some downward pressure on growth in apartment prices and rents, particularly in Brisbane."
It also noted vacancy rates had been increasing, particularly in Perth.
"Strong growth in the supply of new apartments was continuing to drive a wedge between price growth for apartments and detached houses in Melbourne and Brisbane."
It noted members discussed the recent actions taken by APRA and the Australian Securities and Investments Commission to support prudent lending practices. 
"These actions had been focused particularly on interest-only lending, serviceability assessments and responsible lending practices. 
"APRA's guidance had included limits on the share of interest-only loans in new housing loans and a requirement that banks impose strict limits on new interest-only lending at high loan-to-valuation ratios. 
"Members recognised that the calibration of this guidance was not precise or straightforward. 
"Developments needed to be kept under review and, depending on how the system responds to the various measures, members noted that the Council of Financial Regulators would consider further measures if needed," it concluded.
 
</body></html>

RBA notes banks curtailing Brisbane apartment lending given oversupply fears

Minutes of the April Monetary Policy meeting of the Reserve Bank Board

<html><body>
Melbourne’s western region had the highest score for weekend auction clearance rate, according to CoreLogic’s latest report, but the Mornington Peninsula was the busiest over the Easter break.
The property data firm says that Melbourne’s western region scored 100 percent with all 17 auctions resulted in a successful outcome.
The South East region had a score of 70 percent out of its 10 auctions.
<a href="https://www.propertyobserver.com.au/images/2017/04/18/Screen%20Shot%202017-04-18%20at%2010.28.36%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/2017/04/18/Screen%20Shot%202017-04-18%20at%2010.28.36%20am.jpg" alt="">
</body></html>

Melbourne's Mornington Peninsula ranked as Easter's busiest auction region: CoreLogic

<html><body>
North Sydney and Hornsby had the highest weekend auction clearance rate in Sydney, according to CoreLogic’s latest report which covered the subdued Easter period.
The property data firm says that out of the 27 auctions in North Sydney and Hornsby 88.9 percent resulted in a success.
This is followed by the Eastern Suburbs with 87.8 percent and the City and Inner South with 84 percent.
<a href="https://www.propertyobserver.com.au/images/2017/04/18/Screen%20Shot%202017-04-18%20at%2010.28.27%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/2017/04/18/Screen%20Shot%202017-04-18%20at%2010.28.27%20am.jpg" alt="">
South West had the lowest auction clearance rate with only 72.7 percent of its 11 auctions resulted in a successful outcome.
</body></html>

North Sydney and Hornsby score 88 percent Easter weekend auction clearance rate: CoreLogic

<html><body>
Mair Property Funds (MPF) has secured a modern medical centre in Perth’s north east for $8.1 million.
MPF purchased the Broadway Medical centre at 150 Coolamon Boulevard in Ellenbrook, 20 kilometres north east of Perth, which will be included in its Diversified Property Trust.
The premise was built in 2014 and is fully leased with 8 tenants across a range of medical disciplines including physiotherapy, dentistry, pathology, radiology, podiatry and pharmacy, among others.
Peter Melling, MPF acquisitions manager, said the company identified the premise as an attractive investment because of its strong tenant mix and prominent location.
“The bulk-billing centre is open 7 days a week, and is one of just five medical practices within Ellenbook to cover 43,000 residents, with restrictions on the number of centres allowed within the area,” he said.
“The suburb is expected to grow further with enhanced public transport links, including the Ellenbrook rapid bus system and the Ellenbrook rail line, which forms part of the state government’s Metronet initiative.
“Our research and market analysis has also highlighted the medical sector as a solid investment because of its greater economic resilience and strong growth outlook amid an aging population.
The Broadway Medical centre has a land area of 5,076 square metres and building area of 1,586sqm.
The purchase of Broadway Medical takes the value of properties under management by MPF to $188 million.
</body></html>

MPF acquires Ellenbrook medical centre

<html><body>
Property developer Pellicano has been given approval for a mixed-use residential development in the victorian suburb of Oakleigh.
The mixed-use development, worth $53 million, will have 95 apartments and retail space nd consist of three buildings – a small linear building to the south and two sculpted buildings to the northeast and northwest.
A pedestrian walkway will run north to south through the site, connecting Atherton Road with the access laneway to the north.
Nando Pellicano, managing director, Pellicano said the site offers great connectivity to wider Melbourne being within a two-minute walk to bus access, and a five-minute walk to the Oakleigh train station.
"It also has direct access to major arterials such as Dandenong Road, Warrigal Road and the Monash Freeway,” he said.
"Alke will present a four-storey frontage to the street, with a retail tenancy at ground level creating an opportunity to add to the already vibrant street life.
<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/2017/03/14/Oakleigh%20original.jpg" alt="">
“We see this development catering to residents in all walks of life,” Pellicano said.
“First home buyers, young professional renters, and downsizers who want the convenience of apartment living while staying within their local community can take advantage of this opportunity.”
A communal residents’ landscaped terrace will be located on level one, landscaped by John Patrick Landscape Architects.
Construction is set to commence in the second half of 2017.
</body></html>

Pellicano returns to its roots with new Oakleigh development

<html><body>
An 1890s Daylesford house has been listed for $1.385 million.
Located at <a href="https://www.realestate.com.au/property-house-vic-daylesford-125021866">5 Camp Street</a>, Goodman House has views of Daylesford and the Wombat State Forest.
It features a solid Mahogany back/garden door with many original, historic features still intact around the property.
The front verandah was rebuilt in 2004.
The cook’s kitchen features a 7 hob gas English ‘Belling’ stove and operating wood stove.
Three bedrooms and two bathrooms are available, with one being an English enamel bath.
Two sitting rooms features open fireplaces with the second being able to be used as a dining room.
<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/2017/04/11/5%20Camp%20Street-2.jpg" alt="">
A grand Consevatory is available along with a library/study, rear vestibule to the cellar, garden and cellar.
Along with the wood stove there are four operating fireplaces as well as a gas fired hydronics heating and full insulation.
Sitting within Daylesford’s Historic Precinct the Botanical Gardens is only a few minutes walk away while main shopping precinct and restaurant are within close proximity.
</body></html>

1890s Daylesford house, Goodman House, listed for $1.385 million

<html><body>
PRDnationwide has released research claiming customers got a better result when they pay the full real estate commission rates.
The PRDnationwide research compared the median sales prices achieved by Purplebricks and online DIY sites like buyMyPlace.com.au and forsalebyowner.au against those achieved by traditional agents in Sydney, Melbourne and Brisbane dating back to 2014.
On average PRDnationwide found that Sydney traditional agents achieved 19.7 percent higher house prices and 3.8 percent higher unit prices,
It found Brisbane traditional agents achieved 8.3 percent higher house prices and 4.2 percent higher unit prices.
Melbourne traditional agents achieved 10 percent higher house and unit prices.
"Overall traditional real estate is achieving higher median prices than disruptors," claimed Diaswati Mardiasmo, national research manager at PRDnationwide.
"Based on this data, it's appropriate to coin the term 'when you pay peanuts - you get monkeys'.
"Although vendors might be paying higher commissions it would appear they are getting much better results under the traditional model and the accountability that it creates," she told The Australian Financial Review.
Ryan Dinsdale, Purplebricks Australia CEO, dismissed the research carried out by its competitors.
"The opinion of our customers is what we focus on as a business. We launched Purplebricks because up until now, Australians haven't had a choice in how they sell their home and we saw a growing demand for a fairer, more transparent offering," Mr Dinsdale told the Australian Financial Review.
"Since we launched in September 2016, we have saved our customers over $5 million in fees and our experts have achieved sales prices our customers are clearly delighted with as they have rated their Purplebricks experience 9.4/10 'Excellent' on independent review site Trustpilot.com.au."
Purplebricks, which does not have real estate offices but does use estate agents, charges a flat fee of $4500-$5500 including marketing and advertising costs. It also provides customers with 24/7 access to their own listing via an online platform that also allows them to engage with potential buyers.
They've recently been attacked by the First National CEO, however Property Observer did notice a recent success in Melbourne when a studio apartment sold for $187,500, the most affordable across the city that weekend.
</body></html>

Traditional agents secure higher prices than the disruptors

<html><body>
Traralgon is the cheapest locality in Victoria for purchasing units, according to Investar’s latest report.
The property investment firm says that units in Traralgon can be purchased at around a $111,500 median.
This is followed by Moe with $148,500 and Numurkah with $149,000.
<table border="1" cellspacing="0" cellpadding="0"><tbody>
<tr>
<td valign="top" width="72">
Suburb
</td>
<td valign="top" width="64">
Postcode
</td>
<td valign="top" width="81">
Bedrooms
</td>
<td valign="top" width="122">
Current median price
</td>
</tr>
<tr>
<td valign="top" width="72">
Traralgon
</td>
<td valign="top" width="64">
3844
</td>
<td valign="top" width="81">
Studio and 1
</td>
<td valign="top" width="122">
$111,500
</td>
</tr>
<tr>
<td valign="top" width="72">
Moe
</td>
<td valign="top" width="64">
3825
</td>
<td valign="top" width="81">
2
</td>
<td valign="top" width="122">
$148,500
</td>
</tr>
<tr>
<td valign="top" width="72">
Numurkah
</td>
<td valign="top" width="64">
3636
</td>
<td valign="top" width="81">
2
</td>
<td valign="top" width="122">
$149,000
</td>
</tr>
<tr>
<td valign="top" width="72">
Mildura
</td>
<td valign="top" width="64">
3500
</td>
<td valign="top" width="81">
2
</td>
<td valign="top" width="122">
$155,000
</td>
</tr>
<tr>
<td valign="top" width="72">
Burwood
</td>
<td valign="top" width="64">
3125
</td>
<td valign="top" width="81">
Studio and 1
</td>
<td valign="top" width="122">
$155,000
</td>
</tr>
</tbody></table>
A one bedroom unit at <a href="https://www.realestate.com.au/property-unit-vic-traralgon-124532498" target="_blank">22/18 Gwalia Street</a>, Traralgon (above) has been listed for $108,000.
Similarly a one bedroom unit at <a href="https://www.realestate.com.au/property-unit-vic-traralgon-124117462" target="_blank">2/4 Murphy Crescent</a>, Traralgon (below) has been listed for $105,000.
<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/2017/04/12/2_4%20Murphy%20Crescent.jpg" alt="">
</body></html>

Units in Traralgon's $111,500 median: Investar

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

Editor's Picks

Have something to contribute?

Developments

New apartments

New townhouses

News