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Sales activity in the Brisbane retail world is starting to slow with stock generally being very tightly held, according to Herron Todd White’s (HTW) latest report.
The property advisory firm says that sellers cannot easily replace their investments with equivalent yields in any other asset class.
Yields for neighbourhood centres have continued to tighten throughout the course of 2016, however, there is now a perception that we are approaching the top, primarily due to the tightening market for funding which is now requiring greater levels of equity.
The overwhelming demand for well leased retail stock in the sub $5 million market has created a seller’s market with buyers often cascading from one sales campaign to the next.
When they miss out on the first property the urgency to buy the next can be very strong.
Most activity remains in the convenience and neighbourhood sectors, but even there the quantum of transactions is slowing.
It is also now timely to pause and reflect on the quantum of capital growth that has occurred in these markets over the past three years.
A good recent example is the sale of the Sandstone Point IGA anchored centre which recently sold for $10.395 million showing a yield of 7.04%.
This property sold three years earlier for some $8.25 million and showed capital growth of 26% over that period. This is reasonably reflective of the neighbourhood and convenience centre markets generally.
More broadly, yields for well leased neighbourhood centres in strong locations are now well entrenched in the low 6% yield range.
Service stations are also hot at the present time.
The Caltex complex at Northlakes was recently contracted at a yield of 5.13%, showing a staggering 48% capital growth over a three year period since its previous purchase.
Whilst demand is likely to remain strong, we consider that the market is nearing the peak with the likelihood of yields bottoming out over the next six to 12 months.
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j.ballantyne1990-6AQqhLzZaK

Lack of stock slowing Brisbane retail sales activity: HTW

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A 2071 square metre development land at Box Hill is for sale.
Located at <a href="https://www.rtedgar.com.au/property/423466/" target="_blank">5 – 9 Howard Street</a>, it is 500 metres from Box Hill Central.
With a Residential Growth Zone 1 that encourages higher density housing, plans for a five storey apartment complex with basement parking has been drawn up and subject to council approval.
It will provide 55 residences ranging from one to three bedrooms.
Other options on the 47 metre frontage x 44 metre depth site include a townhouse development, unit development or commercial development.
It currently sits on three period homes and will give a substantial rental income while waiting for the planning and council approval processes.
The property is also close by to Box Hill Library, the Eastern freeway and Eastern Health’s state-of-the-art healthcare facility with Wattle Park Gold Course, Box Hill Gold Course and Surrey Park nearby.
It is a short distance to Box Hill TAFE, Deakin University and others.
Expressions of interest close November 22 and is offered through RT Edgar agents Lawrence Zhu and Annabelle Feng.
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Box Hill development block listed

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Bondi Pizza will open its next Australian location at Broadway Sydney on November 14.
It will complete the line-up of new international and domestic retailers in the centre’s $55 million level two redevelopment.
The restaurant will have a fit out featuring a floor-to-ceiling mural painted by local Glebe-based artist, Lance Corlett.
Jeff Fisher, Bondi Pizza CEO, said that after opening its first restaurant on Bondi Beach in 2009, the Broadway store will be the seventh Sydney restaurant, with existing stores stretching from Bondi to Parramatta, including sites at Eastgardens, Brighton-Le-Sands, Top Ryde and Macquarie.
Bondi Pizza will have 480 square metre in the recently unveiled level two, which boasts a 3,400 square metre expansion.
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Bondi Pizza to open at Broadway Sydney

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A development site at Avoca Beach has been sold for $1,650,000.
Located at <a href="https://www.realestate.com.au/sold/property-residential+land-nsw-avoca+beach-201451382" target="_blank">4-6 Cape Three Points Road</a>, the 1,713 square metre, B2 zoned local land is one of the last undeveloped sites in the Central Coast location.
This existing church site offers commercial and residential redevelopment, or conversion of the current building.
The current church structure provides a 250 square metre floor area.
The property is only 60 metres to the main entry to Avoca Village precinct.
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Avoca Beach development site sold for $1,650,000

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Geelong is ranked among the regional regions with the highest auction clearance rate, according to CoreLogic’s latest report.
The data firm says that out of the 31 auctions known to CoreLogic over the weekend Geelong sold 80%.
This is followed by Wollongong with 76% and the Hunter with 71%.
<a href="/images/2016/11/10/Regional%20regions.jpg" target="_blank">Click to enlarge</a>
<img src="/images/2016/11/10/Regional%20regions.jpg" alt="">
The region with lowest auction clearance rate was the Gold Coast where out of the 35 auctions known to CoreLogic over the weekend only 42% were sold.
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Geelong leads with 80% auction success: CoreLogic

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The West and Inner South region of Melbourne was among the regions with the highest weekend auction clearance rate, according to CoreLogic’s latest report.
The data firm says that both regions had an auction clearance rate of 81%.
This is followed by the North West with 80% and the North East with 76%.
<a href="/images/2016/11/10/Melbourne%20sub%20regions.jpg" target="_blank">Click to enlarge</a>
<img src="/images/2016/11/10/Melbourne%20sub%20regions.jpg" alt="">
The region with the lowest auction clearance rate was the Inner region where out of the 157 auctions known to CoreLogic only 67% were sold.
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Melbourne's West dominates auction clearance rate strength: CoreLogic

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Sydney’s landmark Lands and Education buildings on Bridge Street – known as “The Sandstones” – are one step closer to being transformed into a world-class hotel.
The NSW Government today announced the next stage of a $300 million plan to revitalise the historic buildings.
The Singapore-based Pontiac Land Group has lodged its Development Application (DA) for the planned transformation.
Minister for Finance, Services and Property Dominic Perrottet said the heritage redevelopment would allow locals and visitors to enjoy the history and heritage of the Sandstones for the first time since they were built in the late 1800s.
“When the Sandstones were first built, their beauty inspired the people of Sydney. This restoration will inspire us all again.”
The designs unveiled by Pontiac Land Group show ground-level retail and dining and a rooftop salon in the Lands building, to be open to the public.
More than 250 hotel rooms and suites are included in the plans for the two buildings, Mr Perrottet said.
Pontiac has extensive experience in the adaptive re-use of heritage buildings, including the flagship Capella Hotel in Singapore.
The Sandstones are subject to strict heritage protections, and the development will need to comply with Conservation Management Plans, endorsed by the NSW Heritage Council.
The DA will be considered for approval by the Department of Planning and Environment, and will be on public exhibition from November 17 to December 13.
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Sydney's landmark Sandstones hotel conversion revealed

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Adelaide is at the bottom of the market for the unit market, according to Herron Todd White’s latest market report.
The property advisory firm says that new properties are almost never sold at prices that exceeds their potential resale value.
Despite this demands for new units are fair with an increasing trend in new unit construction with volume of unit sales remain steady.
<a href="/images/2016/11/04/Capital%20city%20units.jpg" target="_blank">Click to enlarge</a>
<img src="/images/2016/11/04/Capital%20city%20units.jpg" alt="">
The rental vacancy situation is a balanced market with a steady rental vacancy trend.
Other cities with a fair demand for new units include Sydney, Hobart and Canberra.
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Adelaide at bottom of the unit market with steady rental vacancy trend: HTW

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Higher rental yields and accelerating capital growth is seeing Hobart and Canberra close in on year-on-year top capital city performers, Sydney and Melbourne, according to CoreLogic’s latest report.
The property investment firm says that over recent years, both cities have seen much stronger total returns than other capitals.
As reported in the October CoreLogic Home Value Index released last week, combined capital city home values rose by 7.5% over the year to October 2016 with the accelerating annual growth trend most evident within Sydney and Melbourne.
<a href="/images/2016/11/10/Annual%20change%20in%20capital%20cities.jpg" target="_blank">Click to enlarge</a>
<img src="/images/2016/11/10/Annual%20change%20in%20capital%20cities.jpg" alt="">
CoreLogic research analyst Cameron Kusher said while the change in values is important, "it only tells part of the story with the total return also an important figure to focus on.”
“While the home value index looks at changes in values, the CoreLogic Accumulation Index factors in the change in values over the year along with rental returns. As a result, the Index provides the total returns from residential property.
“By factoring in rental returns, the total returns from residential property are actually positive cross all capital cities despite declining values in both Perth and Darwin.”
<a href="/images/2016/11/10/Total%20returns%20residential.jpg" target="_blank">Click to enlarge</a>
<img src="/images/2016/11/10/Total%20returns%20residential.jpg" alt="">
“The total returns index also shows that Sydney and Melbourne are not quite so far out in front. The strong value growth in these two cities is offset by record low yields. Meanwhile, more moderate but accelerating value growth in Hobart and Canberra along with higher rental returns is resulting in total returns in these two cities closing the gap with Sydney and Melbourne,” Mr Kusher said.
Looking at cumulative value growth over the five years to October 2016, Sydney and Melbourne stand head and shoulders above all other capital cities.
<a href="/images/2016/11/10/Total%20change%20in%20capital%20cities.jpg" target="_blank">Click to enlarge</a>
<img src="/images/2016/11/10/Total%20change%20in%20capital%20cities.jpg" alt="">
Over the five years to October 2016 Sydney home values have increased by 62.3% and Melbourne home values are 38.1% higher.
No other capital city has recorded cumulative growth of at least 20% over the past five years.
According to Mr Kusher, total residential property returns over the past five years indicate that property has performed much better than the headline value growth shows.
<a href="/images/2016/11/10/Total%20returns%20residential%202.jpg" target="_blank">Click to enlarge</a>
<img src="/images/2016/11/10/Total%20returns%20residential%202.jpg" alt="">
He said although Sydney and Melbourne have still recorded the strongest total returns over the past five years, returns in the other capital cities are much stronger once you factor in the rental return performance.
“The strong value growth in Sydney and Melbourne over recent years has been a key driver of demand from the investment segment. Over the past year, total returns have begun to accelerate in Hobart and Canberra. Although value growth in these two cities has not been as strong as in Sydney and Melbourne, the superior rental returns are resulting in stronger total returns.”
“With Sydney and Melbourne seeing much greater value growth than all other capital cities over recent years and rental returns pushing to lower level, the total returns on offer in Hobart and Canberra are likely to remain attractive for investors, particularly those looking for opportunities outside of the two largest capital cities.”
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Property investment returns picking-up outside of Sydney and Melbourne: CoreLogic

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Auction volumes are set to rise this week with 2,613 capital city auctions currently being scheduled this week compared to 2,490 auctions last week, according to CoreLogic’s latest report.
Auction volumes are set to ease this week in Sydney with 948 auctions scheduled compared to 1,063 last week.
In Melbourne volumes are set to rise from 929 last week to 1,223 this week.
Auction volumes continue to remain well below levels last year.
Across each of the smaller cities, auction activity is set to be lower this week than it was last week.
<a href="/images/2016/11/10/Screen%20Shot%202016-11-10%20at%201.37.25%20PM.jpg" target="_blank">Click to enlarge</a>
<img src="/images/2016/11/10/Screen%20Shot%202016-11-10%20at%201.37.25%20PM.jpg" alt="">
Capital city auctions this week:
• Sydney: 948
• Melbourne: 1223
• Brisbane: 177
• Adelaide: 126
• Perth: 43
• Canberra: 85
Mosman in Sydney is the busiest suburb for auctions this week with 26 properties set to go under the hammer.
Reservoir (24), Cheltenham (18) and Bentleigh East and Glen Iris (both 17%) all of which are in Victoria will also have high numbers of auctions this week.
<a href="/images/2016/11/10/Screen%20Shot%202016-11-10%20at%201.37.30%20PM.jpg" target="_blank">Click to enlarge</a>
<img src="/images/2016/11/10/Screen%20Shot%202016-11-10%20at%201.37.30%20PM.jpg" alt="">
Capital city auction clearance rates fell last week, down to 73.6 per cent from 74.4 per cent.
The fall occurred on the back of a fairly significant increase in auction volumes which rose from 2,253 the previous week to 2,517 last week.
Melbourne’s auction clearance rate was recorded at 76.1 per cent last week, down from 77.5 per cent over the previous week.
In Sydney, last week’s final auction clearance rate was recorded at 78.8 per cent which was the first reading below 80 per cent in four weeks and down from 80.5 per cent the previous week.
Across the smaller auction markets, performance was mixed last week, with clearance rates improving in Brisbane and Canberra but falling in Adelaide and Perth.
The Hunter region was the busiest non-capital city region last week, with 74 auctions, however Geelong recorded the strongest clearance rate at 80 per cent which was actually higher than Melbourne’s clearance rate.
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Melbourne and Sydney auction volumes increasing, but still less than last year: CoreLogic

Builder-developer&nbsp;<a href="https://www.apartments.com.au/developers/graya">Graya</a> has secured a prime Newstead site from fellow developer Fraser, subsequently lodging plans for The Silo, a major mixed-use residential project in Newstead designed around a new public laneway linking the James Street precinct with the wider Gasworks and Newstead neighbourhood.

Proposed for the corner of Chester and Morse streets, the <a href="https://www.apartments.com.au/architects/bureauproberts">Bureau^Proberts</a>-designed project places its strongest emphasis at ground level, where retail, landscaping and a new cobblestone pedestrian connection would open the site to the surrounding neighbourhood. The design team describes The Silo as “more than a residential building”, positioning the development as an extension of Newstead’s public realm rather than a standalone apartment tower.

“A new cobblestone laneway and landscaped connection between James Street and Gasworks unlock a missing pedestrian link, improving walkability and stitching together two of Brisbane’s significant urban destinations,” Bureau Proberts said in its Urban Design Report.

<img alt="First look: Graya plans The Silo as new pedestrian link between James Street and Gasworks" data-entity-type="file" data-entity-uuid="0ea1b06a-75f5-40a5-b2c5-33c97bc86052" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/silo%20bldg.png?VersionId=KmjsAtNePu57_B31EM_DJ5T6KPJHtcmo" />

The Silo is planned as a mixed-use development incorporating apartments alongside a bar and centre activities including food and drink outlets, indoor sport and recreation, office and retail uses.

Architecturally, Bureau Proberts has conceived the building as a collection of vertically expressed, stepping forms rather than a single uniform tower. The composition rises from an articulated podium before being broken by a triple-height landscaped recreation level, with the upper section becoming more compact before terminating in a landscaped rooftop garden.

The project's name and architectural language draw directly from Newstead's industrial history. Patterned off-form concrete is proposed as the principal façade material, complemented by slender metal rod balustrades and extensive planting. The cylindrical and vertically ribbed elements give the building its silo-like expression, while curved balconies and planted edges introduce a softer subtropical layer.

“The Silo reinterprets its robust forms, scale and materiality through a contemporary subtropical architectural expression, creating a building that acknowledges its industrial legacy, while responding to the way the precinct is occupied today,” Bureau^Proberts said.

The recreation level is one of the defining breaks in the tower. Plans include a lap pool, mature subtropical planting and shared resident facilities within an elevated communal garden. Landscaping continues through the podium and onto the rooftop, where a further garden forms what the architects describe as a “subtropical crown” to the building.

<img alt="First look: Graya plans The Silo as new pedestrian link between James Street and Gasworks" data-entity-type="file" data-entity-uuid="f8451036-35a4-49a9-8d88-2ef4438eba3d" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Silo%20Lane.png?VersionId=h8N31_rYmCEqoNrpt4kbYVQhJGZn60LH" />

At street level, the development has been designed to establish a more permeable block. Retail and hospitality tenancies address the public realm, while landscaped pedestrian spaces lead into the new laneway connection. Renders in the design report show the proposed “Silo Lane” as a substantial opening through the podium, framed by cylindrical concrete forms with cascading planting above.

The Silo continues Graya's move into larger apartment developments after building its reputation across high-end residential projects in Brisbane and the Gold Coast.

Joel Robinson

Graya buys Frasers Newstead site, plans The Silo between James Street and Gasworks precincts

<a href="https://www.apartments.com.au/developers/wickton">Wickton</a>’s completed Linacre Rise development in Hampton is giving Bayside downsizers the opportunity to move into a spacious apartment near the beach, with the developer covering stamp duty for a limited time.

The 27-residence development has been designed for buyers who want to simplify their living arrangements without giving up the space, warmth and quality associated with a long-term family home. Most apartments have already been secured by Bayside locals, leaving a select collection of two and three-bedroom residences and penthouses available.

Two-bedroom apartments are priced from $1.275 million, three-bedroom residences from $2.25 million and penthouses from $3.375 million, with the completed homes available to inspect and move into now.

[smartcode_project:default project_id=95289 project_image_fid=366760]

<a href="https://www.apartments.com.au/buildings/linacre-rise-hampton-8-10-linacre-road-hampton-vic-3188">Linacre Rise</a> occupies an elevated position on one of <a href="https://www.apartments.com.au/developments/hampton-vic-3188">Hampton</a>’s quiet, tree-lined streets, around 250 metres from the bay and 500 metres from Hampton’s village centre. Its setting gives residents access to the beach, local cafés, shops and Hampton Train Station while retaining the feel of an established residential neighbourhood.

Architecture and interiors by <a href="https://www.apartments.com.au/architects/ewert-leaf">Ewert Leaf</a> draw on the warmth and permanence of traditional brickwork, with the building integrated into terraced landscaping by <a href="https://www.apartments.com.au/landscape-architect/john-patrick-landscape-architects">John Patrick</a>. Ground-floor apartments are elevated above the street and include private garden courtyards, while several upper-level residences have generous balconies and outlooks toward the bay.

Inside, the residences favour natural materials and generous proportions. Herringbone-pattern European oak flooring, natural stone benchtops, premium joinery and Swiss V-ZUG appliances are among the key inclusions, while integrated storage has been incorporated across kitchens, bathrooms, studies and living areas.

The kitchens have been planned as practical spaces for both everyday use and entertaining, with substantial island benches, detailed cabinetry and adjoining dining and living zones. Full-height wardrobes, plush bedroom carpeting and carefully considered lighting reinforce the residential character Wickton sought to retain for buyers moving from larger homes.

[smartcode_project:default project_id=95289 project_image_fid=366769]

A Linacre Rise purchaser said the completed apartment had delivered the space, outlook and construction quality they had been seeking.

“The unit is very light, has views to die for over the bay, all construction materials and fittings are premium quality, we have secure parking for three cars, EV charging at very competitive rates, the neighbours are friendly and there is just a lovely ambiance about the place,” the purchaser said.

Environmental features include solar panels, shared electric vehicle charging stations, rainwater harvesting for toilet flushing and landscape irrigation, double-glazed windows and water-efficient fixtures and appliances.

[smartcode_project:default project_id=95289 project_image_fid=366762]

The development was built by Balmain &amp; Co, with Wickton managing the broader development process through its in-house team.

For downsizers, the project’s completed status removes much of the uncertainty associated with buying off the plan. Purchasers can inspect the finished apartments, understand their outlook and proportions, and move in without waiting for construction to conclude.

The remaining selection includes north-oriented balconies, corner configurations and penthouses with elevated bay views. The developer-paid stamp duty initiative is available for a limited time, with potential savings of up to $200,000 depending on the residence purchased.

[smartcode_project_cta:default project_id=95289]

Limited-time stamp duty offer at completed Linacre Rise apartments in Hampton

Luxury apartment buyers have long prioritised design, space and finishes, but increasingly they're placing equal importance on something less tangible: how easily they can live without relying on a car.

At <a>Richmond Square</a>, <a href="https://www.apartments.com.au/developers/fortis">Fortis</a> believes that convenience begins beyond the apartment itself, with the mixed-use precinct earning a near-perfect Walk Score of 99.

The development has been planned around the idea that some of the most valuable amenities aren't contained within a building, they're the restaurants, cafés, parks, transport connections and daily conveniences that can all be reached on foot.

Located just behind Swan Street and Church Street, <a href="https://www.apartments.com.au/new-apartments/richmond-square-1-wiltshire-street-richmond-vic-3121">Richmond Square</a> places residents within one of Melbo​u​rne's most established lifestyle precincts while offering a quieter residential setting removed from the busiest thoroughfares. East Richmond Station is moments away, trams run along both Swan and Church Streets, and the MCG, Melb​​ourne Park, Yarra River trails and the CBD are all within walking distance. At the same time, the precinct itself will introduce a curated mix of dining, retail, hospitality and wellness offerings, creating a destination that extends well beyond its residential buildings.

[smartcode_project:default project_id=13181 project_image_fid=348530]

For Fortis, that combination of location and scale was what made the site unique.

"<a href="https://www.apartments.com.au/developments/richmond-vic-3121">Richmond</a> is one of Melb​o​urne's most established and distinctive inner-city neighbourhoods, with a rare combination of dining, culture, recreation, public transport and proximity to the CBD," the developer said.

"The opportunity at Wiltshire Street was particularly compelling because the site sits slightly removed from the activity of Swan and Church Streets while remaining only moments from everything that makes the area desirable."

Rather than developing a standalone apartment building, Fortis consolidated 15 individual properties to create one of the larger development parcels assembled on Mel​b​ourne's city fringe in recent years. That allowed the team to deliver a genuine mixed-use precinct comprising 107 residences across Wiltshire House and Carmine House, premium office space, hospitality venues, retail, wellness offerings and a future 57-room hotel.

"The scale of the site allowed Fortis to think beyond a standalone apartment building," the developer said.

"Richmond Square could be planned as a complete lifestyle precinct, bringing homes, workplaces, dining, retail, hospitality and wellness together around a series of activated public spaces. The aim was to create a destination that feels connected to Richmond rather than separate from it."

[smartcode_project:default project_id=13181 project_image_fid=348533]

The emphasis on walkability has also resonated with buyers.

Interest has been strongest from established owner-occupiers, particularly downsizers from Richmond and Melb​ourne's inner east who want to remain close to familiar restaurants, workplaces, family and social networks while moving into a more secure, lower-maintenance home. The project is also attracting Mornington Peninsula and interstate buyers seeking a Melb​ourne residence they can lock up and leave between visits.

Many are looking for generous living spaces, room to entertain, quality finishes and confidence in the project team, but location remains one of the biggest deciding factors.

"For many buyers, Richmond Square provides a way to simplify the practical side of home ownership without reducing the quality of their lifestyle," the sales team said.

"Location is also a major driver of interest. Buyers can remain connected to the CBD, major sporting events, the arts centres, local restaurants, cafes and bars and their family while living in a private and secure residence that is easy to lock up and leave for weekends or longer periods away."

[smartcode_project:default project_id=13181 project_image_fid=348549]

The residences themselves have been designed with that buyer in mind. Award-winning architecture practice SJB and interior designers Hecker Guthrie have created spacious two and three-bedroom apartments and penthouses that prioritise generous living areas, natural light, bespoke joinery and private terraces. Above, a rooftop sanctuary by Acre includes landscaped lawns, bookable dining rooms, barbecue facilities, wellness spaces and panoramic views across the CBD, the MCG and Port Phillip Bay.

Fortis believes Richmond Square reflects a broader evolution in apartment living, where the surrounding neighbourhood becomes just as important as the residence itself.

"Richmond Square introduces a different proposition: generously proportioned residences within a genuinely mixed-use, hospitality-led destination," the developer said.

"The project's location and Walk Score of 99 further support a lifestyle where residents can complete many everyday journeys without relying on a car."

Fortis has assembled an experienced team that includes <a href="https://www.apartments.com.au/architects/sjb-architects">SJB</a>, <a href="https://www.apartments.com.au/interior-designers/hecker-guthrie">Hecker Guthrie</a>, <a href="https://www.apartments.com.au/landscape-architect/acre">Acre</a> and builder <a href="https://www.apartments.com.au/builders/hacer-group">Hacer Group</a>, reflecting the developer's commitment to creating projects with enduring design quality and meaningful connections to the communities in which they sit.&nbsp;

Richmond Square is an expression of that philosophy, bringing together homes, workplaces, hospitality and wellness within one of Me​lb​ourne's most walkable neighbourhoods.&nbsp;

Construction is now almost complete, providing purchasers with growing confidence ahead of its expected September 2026 completion.

[smartcode_project_cta:default project_id=13181]

Walk Score of 99 places Richmond Square at the heart of Melbourne's most connected lifestyle

<h3 data-end="19" data-section-id="1dvgwoe" data-start="0">Summary</h3>

<ul data-end="634" data-start="21">
	<li data-end="170" data-section-id="1o77v31" data-start="21">Walker Corporation has lodged plans for a second major residential development in the Maroochydore City Centre, a 29-storey tower known as Celeste.</li>
	<li data-end="327" data-section-id="1lb0y6t" data-start="171">The Plus Studio-designed proposal at Lot 30 Sunshine Coast Parade would deliver 208 apartments, including four four-bedroom sub-penthouses and penthouses.</li>
	<li data-end="487" data-section-id="za720" data-start="328">The application comes as Walker doubles down on Maroochydore following the strong sales campaign at SOL by Walker, where the first tower is nearing sell-out.</li>
	<li data-end="634" data-section-id="5sovec" data-start="488">Walker is a key partner in the transformation of the Maroochydore City Centre, which is expected to ultimately deliver at least 4,000 new homes.</li>
</ul>

Walker Corporation is doubling down on Maroochydore following the successful sales campaign at its first residential project in the emerging CBD.

The national developer has filed plans for <a href="https://www.apartments.com.au/new-apartments/celeste-30-sunshine-coast-parade-maroochydore-qld-4558">Celeste</a>, a new 29-storey apartment tower at Lot 30 Sunshine Coast Parade, just metres from its under-construction SOL by Walker development.

The plans, prepared by Plus Studio, would see 208 apartments delivered across a 100-metre tower on the 2,376 sqm site, which fronts Sunshine Coast Parade, First Avenue and Future Way within the Maroochydore Priority Development Area.

<img alt="Walker" data-entity-type="file" data-entity-uuid="17038209-6fea-4ed2-855d-fd4df65b3d02" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-10%20at%2010.24.16%E2%80%AFAM.png?VersionId=iZD.oVXcQn.aLpUytDAW.CWjxP4puWMy" />

The proposed apartment mix comprises 36 one-bedroom apartments, 48 two-bedroom apartments, 72 two-bedroom apartments with an additional multipurpose space, and 48 three-bedroom apartments.

The upper levels would be capped by two four-bedroom sub-penthouses and two four-bedroom penthouses, taking the total apartment count to 208. The preliminary yield study also provides 262 car spaces, 114 resident bicycle spaces and storage for each apartment.

It represents Walker's next major residential move in the new Maroochydore CBD after the success of SOL by Walker, its $220 million two-tower project nearby.

SOL launched to market in early 2025 and has since seen strong demand, particularly from local owner-occupiers. By February this year, Walker said the first SOL tower was nearing sell-out, with a strong waitlist also emerging for its recently released penthouse collection.

Construction is already underway on SOL, with the first tower expected to be completed in late 2027 and the second to follow in early 2028.

[smartcode_project:default project_id=147777 project_image_fid=319846]

<h2 data-end="2518" data-section-id="1b2dyo5" data-start="2459">Celeste to rise 100 metres over Maroochydore City Centre</h2>

Celeste would take a different form to the twin 19-storey buildings at SOL.

Plus Studio has designed a single 100-metre tower above an activated podium, with the architecture responding to the site's prominent position and three street frontages.

The podium would incorporate commercial tenancies and public art, with sweeping façade elements wrapping the street edges. The scalloped concrete podium has been inspired by the patterns created in sand at low tide, while extensive landscaping would continue vertically through the tower.

The ground level plans show three commercial tenancies addressing Sunshine Coast Parade alongside the residential lobby and landscaped public realm. The podium would then accommodate several levels of car parking before the residential tower rises above.

<img alt="Celeste" data-entity-type="file" data-entity-uuid="121f77b1-71c5-46d7-9b36-0a7d474211ca" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-10%20at%2010.24.47%E2%80%AFAM.png?VersionId=MGrg9Hb7HgzLN0Lelq_xrXNAruVl77ia" />

Plus Studio said the tower had been designed to maximise views from each apartment, taking in the Maroochy River, Sunshine Coast hinterland, Cotton Tree and Maroochydore Beach and ocean.

Those views have also shaped one of the project's key features, with Walker proposing to put the primary resident amenity on Level 29 rather than lower within the building.

The rooftop would feature a 284.9 sqm pool area with an infinity edge, along with a cold pool, spa, sauna, 93.2 sqm gym, sunset lounge, BBQ and dining areas, pool deck and private dining space. Cabanas and day beds are also shown across the recreation level.

The two penthouses would extend across the upper levels and each feature private terraces and plunge pools.

<h2 data-end="4202" data-section-id="v5f4ix" data-start="4160">Walker's growing Maroochydore footprint</h2>

Celeste further reinforces Walker's commitment to the transformation of Maroochydore City Centre.

Walker is one of the key partners delivering the new CBD alongside Sunshine Coast Council and SunCentral Maroochydore, with the broader 62-hectare Priority Development Area occupying the former Horton Park Golf Course and surrounding land.

The precinct is ultimately expected to accommodate at least 4,000 new homes as Maroochydore evolves into the Sunshine Coast's principal commercial and residential centre.

When SOL secured approval in February 2025, Walker Managing Director and CEO David Gallant described it as the "first of many residential projects" the company planned for the Maroochydore City Centre.

Celeste now provides the clearest indication yet of what comes next.

The site sits immediately within the new CBD, with the design report identifying Sunshine Plaza and surrounding parkland within walking distance and Maroochydore Beach around a five-minute drive away.

For Walker, the timing of the application comes as its first residential bet on the new CBD appears to have been vindicated.

SOL has progressed from planning approval to construction while its first release has approached sell-out, giving Walker confidence to push ahead with another 208 apartments and take its residential pipeline in the Maroochydore City Centre to around 450 dwellings across the two projects.

Celeste remains subject to planning approval, with the architectural material describing the scheme as a preliminary yield study that may change through the assessment process.

Walker doubles down on Maroochydore with 29-storey Celeste apartment tower

For most Australians, buying an apartment is one of the biggest financial decisions they'll ever make

The location, floorplan and price are often the first considerations, but in recent years another question has become increasingly important: who is actually delivering the project?

A series of high-profile builder collapses, construction delays and defect concerns have fundamentally changed how many Victorians approach buying off the plan. The collapse of Porter Davis in 2023, which reportedly left around 1,700 homes unfinished, became one of the most visible examples of the risks that can emerge when a construction company fails. <a href="https://www.equifax.com.au/sites/default/files/lpassets/pdf/Final-Business-Market-Pulse-June-Sector-Deep-Dive-Report-2.pdf">Similar challenges across the broader construction sector</a> have left buyers asking more questions before signing a contract.

As Victoria continues encouraging higher-density housing to address supply shortages, transparency is becoming just as important as location or price.

One tool increasingly entering the conversation is the <a href="https://icirt.com/">Independent Construction Industry Rating Tool (iCIRT)</a>, an independent assessment framework designed to help buyers better understand the developer or builder behind a project. Originally developed by Equifax in consultation with government and industry as part of NSW's Construct NSW reforms, the system has since expanded nationally.

<h2 data-end="1519" data-section-id="7nmx3" data-start="1492">What is an iCIRT rating?</h2>

Most Australians are familiar with independent ratings in everyday life.

We compare ANCAP safety ratings before buying a car. We look at Health Star Ratings in supermarkets. Banks rely on credit assessments when lending money.

Until recently, however, there has been very little independent information available to help apartment buyers assess the business responsible for delivering a residential project.

That gap is what iCIRT was designed to address.

Builders, developers and other construction professionals with an iCIRT rating have demonstrated high-trust characteristics through an independent, evidence-based assessment across six criteria: Character, Capability, Conduct, Capacity, Capital and Counterparties. This involves a rigorous review of financial health, past project track record, and ethical conduct. Crucially, an iCIRT rating could help provide property buyers with confidence that they are working with a professional who has demonstrated the capability, capacity, and willingness to return and rectify issues.

Importantly, iCIRT is not a recommendation to purchase a particular property, nor is it a traditional credit rating. It is an independent assessment framework designed to provide objective information about a construction business using a <a href="https://icirt.com/sites/default/files/2025-08/iCIRT-Methodology-Issue1-May-2021.pdf">published methodology</a>.

The system has been widely adopted in New South Wales, where more than one-third of medium and large residential builders and developers now hold an iCIRT rating, representing over two-thirds of the state's residential building market by value as of 2025/26.

<h2 data-end="3126" data-section-id="h6ohtj" data-start="3084">Why buyers are doing more due diligence</h2>

For many buyers, particularly those purchasing off the plan, the biggest risk isn't whether they'll like the kitchen finishes.

It's whether the project will be delivered on time, to the expected quality, and by a company capable of completing the development.

<a href="https://icirt.com/sites/default/files/2026-07/iCIRT%202025%20Consumer%20Survey%20Report%20v05.pdf">Consumer research commissioned by iCIRT</a> found more than half of respondents believed current protections do not adequately safeguard buyers from builder insolvencies or defective projects. Other research found 88 per cent of prospective buyers would seek independent ratings or due diligence before purchasing, while 90 per cent said trust in construction professionals is essential.

That doesn't mean buyers should rely on a single rating alone.

Independent legal advice, understanding the contract, and seeking financial advice all remain important parts of the due diligence process.

However, an independent assessment can provide another source of information alongside those traditional checks.

<h2 data-end="4138" data-section-id="pquzxc" data-start="4094">Trust is becoming a competitive advantage</h2>

The conversation isn't only changing for buyers.

Developers are also recognising that trust has become an increasingly important part of the sales process.

Five years ago, purchasers typically asked about floorplans, finishes and settlement dates.

Today, sales teams are increasingly being asked about the developer's experience, financial stability, previous projects and construction partners.

For companies with strong governance and established delivery records, an independent iCIRT rating provides another way to demonstrate those credentials before buyers even visit a display suite.

According to Equifax, the assessment can also help businesses drive sales and <a href="https://icirt.com/resources-for-business/icirt-rating-helps-scion-secure-high-value-projects">secure high-value projects</a>, as well as identify operational improvements and <a href="https://icirt.com/resources-for-business/mirvac-reinforces-brand-trust-and-quality-independent-icirt-rating">attract top talent</a>.

<h2 data-end="4962" data-section-id="1j54ng5" data-start="4912">Beyond buyers: lenders are paying attention too</h2>

The influence of independent construction ratings is also extending beyond consumers.

According to Stamford Capital's Real Estate Debt Capital Markets Survey, an increasing number of lenders now incorporate iCIRT ratings into their due diligence processes when assessing residential development finance applications.

The survey found lender adoption has continued to rise, with many respondents saying independent assessments provide additional insight into governance, counterparties and delivery capability beyond traditional financial analysis. Some lenders also reported declining funding applications where businesses had poor or no ratings.

As construction costs remain elevated and access to development finance becomes more selective, demonstrating credibility is becoming increasingly valuable.

<h2 data-end="5801" data-section-id="1qazuxs" data-start="5772">What it means for Victoria</h2>

Victoria's apartment market is entering a new phase.

The state is seeking to accelerate higher-density housing while simultaneously introducing reforms aimed at improving confidence in residential construction.

For buyers, that means there are more tools available than ever before to research the businesses behind a project.

For developers, it signals that transparency is becoming another point of differentiation in an increasingly competitive market.

Buyers are asking more questions than ever before and increasingly expecting independent information, not just marketing material, before making one of the biggest financial commitments of their lives.

Find out how to get iCIRT rated <a href="https://www.icirt.com/sites/default/files/2025-08/iCIRT-Infographic-Assessment-Process-Final.pdf">here</a>.

<hr data-end="6469" data-start="6466" />
The information contained in this article is general in nature and does not constitute personal, financial, legal or tax advice. It does not take into account your personal objectives, financial situation or needs. Therefore, you should consider whether the information is appropriate to your circumstances before acting on it and, where appropriate, seek independent professional advice.

This article contains links to third-party websites. These links are provided for convenience only. Equifax Australia does not control and is not responsible for the content, accuracy or privacy practices of external sites.

Copyright © 2026 Equifax Australia Information Services and Solutions Pty Ltd. All rights reserved.

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