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North Sydney and Hornsby takes the top spot among Sydney’s region with the highest weekend clearance rate, according to CoreLogic’s latest report.
The data firm says that of the 156 auctions known to CoreLogic 89% resulted in a successful outcome.
This is followed by the Northern Beaches with 88% and the City and Inner South with 87%.
<a href="/images/2016/11/10/Sydney%20sub%20regions.jpg" target="_blank">Click to enlarge</a>
<img src="/images/2016/11/10/Sydney%20sub%20regions.jpg" alt="">
The region with the lowest auction clearance rate was the South West where only 47% of the 48 auctions known to CoreLogic were sold.
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j.ballantyne1990-6AQqhLzZaK

North Sydney and Hornsby ranks as Sydney's best auction hotspot: CoreLogic

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Brisbane listings have surge in late spring to almost 21,000 current listings, according to CoreLogic. 
<a href="/images/2016/11/10/Number%20of%20homes%20for%20sale.jpg" target="_blank">Click to enlarge</a>
<img src="/images/2016/11/10/Number%20of%20homes%20for%20sale.jpg" alt="">
Over the past four weeks, there were 50,128 newly advertised properties added to the market nationally which was 2.3% lower than a year ago.
However, new listings are at their highest level since late February of this year.
There were 241,438 total property listings over the past four weeks which was the highest number of total listings since the beginning of May this year.
New listings are currently lower than they were a year ago in most cities, the exceptions are Brisbane (+11.4%), Perth (+10.0%) and Canberra (+5.7%).
New listings are substantially lower over the year in Sydney, Hobart and Darwin.
Total advertised properties for sale are lower than a year ago in Sydney(-10.1%), Melbourne (-1.0%), Hobart (-33.1%) and Canberra (-16.4%) and higher elsewhere.
Brisbane (+14.0%) and Perth (+18.5%) are seeing a substantially higher number of total properties available for sale relative to last year.
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Brisbane listings surge into late spring: Corelogic

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Owner occupier finance approvals came in better than expected for September, with the detail a little softer but separate figures on the value of investor finance loans on the strong side.
The number of owner occupier approvals rose 1.6%, well above the market expectations of a 1.6% fall. Industry data on bank loans had been soft in the month.
The gain was led by strong refi activity – ex refi loans were up just 0.5% and down in value terms (–0.8%mth) implying average loan size was quite a bit smaller.
Other detail showed a flat month for construction-related lending.
By state, there were solid gains for total owner occupier loans in NSW, Vic, Qld and SA with a decline in WA.
The 4.6% rise in the value of loans to investors is notable as it means the total value of housing finance loans is up in the month with a clear firming since the recent low in April – that in turn suggests other data pointing to a firming in housing market conditions is genuine and that the bulk of the lift is coming from domestic investor activity. Details 
 Owner–occupiers (no.)   1.6% mth, –3.7%yr    – ex-financing (no.)       0.5% mth, –7.8%yr                      
Construction of dwellings (no.)      –0.8% mth, –5.2%yr       Purchase of newly built dwellings (no.)   5.9%mth, 5.7%yr                            
Value of loans:             
Owner-occupiers ($bn)   0.9%mth, –5.4%yr     Investors ($bn)      4.6% mth, 9.6%yr           Total ($bn)              2.3% mth, –0.2%yr         Total ex refi ($bn)   1.8% mth, –1%yr      
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Owner occupier finance approvals better than expected in September: Westpac's Matthew Hassan

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DEXUS Property Group (DEXUS) today announced that it has exchanged contracts to acquire The Mill, 41-43 Bourke Road, Alexandria, NSW for $110.2 million.
The Mill is a 1.9 hectare mixed use multi-tenanted property located on the corner of Bourke Road and Huntley Street in Alexandria, NSW.
Located 15 minutes from the Sydney CBD, one kilometer from Green Square railway station and 10 minutes from Sydney Airport the property comprises a mix of 10 modern and refurbished historic buildings.
In total it provides 17,579 sqm of warehouse style office, retail spaces and car parking.
The tenancy profile consists of a diverse range of users and covenants such as BlueScope Steel, Genesis HealthCare, Seafolly, Bendon, Under Armour, Mavi, carsales.com.au and The Grounds of Alexandria.
The Grounds of Alexandria is a popular food &amp; beverage operator offering a cafe, bar, restaurant and sustainable garden.
In July the Grounds of Alexandria was listed for sale with hopes of $100 million.
It attracts 15,000-20,000 visitors each week and providing a popular amenity for the occupiers and local community.
The property is 83% occupied with a weighted average lease expiry of circa five years. Settlement is expected in January 2017.
Ross Du Vernet, the Dexus chief investment officer said The Mill was well positioned to benefit from a combination of our active management of under-utilised space.
"And we expect to achieve rental growth, driven by withdrawals of nearby existing traditional office and warehouse properties.”
The complex was put up for sale by Goldman Sachs.
It was the brainchild of developer Albert Bertini, then fell into the hands of lender Suncorp.
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DEXUS acquires The Mill, Alexandria for $110 million

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An offshore purchaser has paid $13 million for an approved townhouse development site in Lindfield.
Setting a new record for Sydney’s Ku-Ring Gai council area, the sale came after 180 enquiries and 24 offers to CBRE's Danny Shi and Aaron McLean.
Based on the approval for 16, three-bedroom townhouses, the sale price translates to a record rate of $812,500 per townhouse site.
“There is still huge demand for townhouse development sites on Sydney’s north shore, particularly from offshore buyers,” Mr Shi said, adding that 20 of the 24 offers had been from Chinese groups.
“Developers perceive townhouses to be lower risk than apartment product, particularly in markets such as Lindfield, which have low levels of new supply.”
Situated at 18 – 20 Bent Street, the site has a total area of 2,719sqm and presently accommodates two residential dwellings.
Mr Shi said there have been limited quality townhouse offerings in recent times, despite the underlying demographics supporting this type of product.
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Offshore $13 million Lindfield townhouse development site sets new record

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Blue Sky Private Real Estate has commenced construction on two new student accommodation sites in Melbourne and Adelaide.
It will boost its student accommodation pipeline to more than 3,300 beds as part of its joint venture with global investor Goldman Sachs.
The new sites are due to open in early 2018.
The joint venture’s target is for a portfolio of 5,000 to 10,000 beds, representing $1.5 billion in assets under management, over the next few years.
Blue Sky’s first student accommodation facility (286 beds in Regent St, Brisbane) opened its doors in July this year.
A second 725-bed facility on Merivale Street, Brisbane is set to be fully operational in February 2017.
Blue Sky is drawing on Goldman Sachs’ expertise owning and operating more than 23,000 beds in the UK.
The sites for the Melbourne and Adelaide facilities are located in both cities’ education precincts.
The 783-bed Melbourne facility (above) is within walking distance of RMIT, the University of Melbourne and Melbourne Central train station.
The 428-bed Adelaide facility (below) in the western CBD will service students of the University of South Australia and University of Adelaide.
<img src="/images/2016/11/10/Blue%20Sky%20Student%20accommodation%20Waymouth%20St%20Adelaide.jpg" alt="">
Education is now Australia’s third largest export industry, behind iron ore and coal, and student accommodation in Australia is attracting significant international attention with US, Chinese, European and South African investors coming into the market.
More than 300,000 overseas students choose to study in Australia with growth likely to accelerate following the introduction of the Government’s simplified visa program, which came into effect three months ago.
Blue Sky's Nick Singleton was previously the finance director of London-based International Public Partnerships, a FTSE 250 infrastructure group, to assist in taking the group further into the social real estate and infrastructure space.
Blue Sky Private Real Estate is a division of ASX 300 listed Blue Sky Alternative Investments Limited.
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Expansionary Blue Sky student accommodation sites under construction

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Portfolio deals worth US$13.0 billion underpinned income-producing commercial real estate investment in Asia Pacific, where volumes were little changed in the third quarter of 2016 (Q3 ‘16) compared to a year earlier.
Analysis by Real Capital Analytics (RCA) revealed that these large transactions masked a generalised slowdown across the region caused by investor caution and a mismatch in pricing expectations between buyers and vendors.
Completed sales of properties in the region, excluding development sites, totalled US$30.4 billion in Q3 ‘16, 1.1% weaker than the same period a year earlier, according to RCA data.
The region saw fewer active buyers and deals completed in July through September, with portfolio deals accounting for 43% of total investment volumes.
For the first nine months of the year, investment declined 18% year-on-year (YoY) to US$84.3 billion.
Petra Blazkova, RCA’s Senior Director of Analytics for Asia Pacific, said high asset prices as well as economic, financial and political concerns, that caused a slowdown in activity in the first half of the year, continued to impact investment decisions in the Asia Pacific region.
"China, however, bucked the trend as it outperformed all other markets in the region during Q3 ’16, overtaking Australia as the second most active market by transaction volume.”
Offices were the best performing sector in Q3 ’16. It was the most active sector in eight of the region’s leading cities - Tokyo, Hong Kong, Singapore, Seoul, Sydney, Shanghai, Beijing and Melbourne. The average transaction size was US$80.0 million, or 2 percent more than in Q2 ‘16, underscoring investors’ preference for core, secure income-producing assets.
Prices, however, remained broadly unchanged at record highs, except in Australia, where yields continued to compress.
<a href="/images/2016/11/08/Chart%201.jpg" target="_blank">Click to enlarge</a>
<img src="/images/2016/11/08/Chart%201.jpg" alt="">
In Mainland China, there were US$10.0 billion in direct real estate transactions recorded in Q3 ‘16, representing 28 percent YoY growth.
While this increase was in part due to the completion of a number of mega portfolio deals during the quarter, underlying appetite for Mainland China real estate remains robust.
In Hong Kong, activity continued to be boosted by Mainland Chinese investors’ purchases, based on confidence fuelled by relatively limited new supply and low vacancy rates.
Total transaction volume in Hong Kong reached US$2.8 billion in Q3 ‘16.
Together with Mainland China, Hong Kong is the only other market in the region currently performing above their long-term volume averages.
In Australia, market sentiment was positive, supported by relatively stable volumes of US$5.1 billion, which while down 13 percent YoY, is still around its long-term average.
Prices continued to trend upwards, with yields compressing across all asset classes and geographies.
Analysis by RCA revealed that the premium to Australian government bond yields remained wide in historical terms, indicating that asset prices could still rise further.
In Singapore, overall volumes grew by 54 percent YoY on large but limited acquisitions primarily within the office sector, notably the sale of a stake in Capital Square by Keppel Land to ARA Asset Management.
In South Korea, where 90 percent of investors are domestic, investment volumes reached US$2.8 billion in Q3 ‘16, more than twice the level from a year ago.
“South Korean investors have been very active both at home and internationally. Interestingly, South Korean institutions were Asia Pacific’s most prolific investors outside the region, making US$4.8 billion in purchases year-to-date. This pattern is likely to continue with US$2.8 billion worth of additional purchases still pending according to our calculations,” Blazkova from RCA added.
In Japan, volumes fell 27 percent YoY to US$6.8 billion on a lack of suitable stock and a reluctance by buyers to pay current prices.
Its record high asset prices, a strong yen and competition from domestic real estate investment trusts (J-REITs) are leading to what could be a structural shift, as international investors turned net sellers there for the first time in six years, RCA data showed.
GE Capital and Fortress were among the notable international institutions to have disposed of assets in Japan during Q3 ’16.
In the region, cross-border transactions continued to increase in importance for the quarter, accounting for one-third or US$11.5 billion of the value of all transactions in the region in Q3 ’16.
However, proportionally this was mainly due to domestic investors pulling back rather than a strong expansion of capital deployment across borders.
For the third year in a row, investments by foreign investors into Asia Pacific declined, standing at less than US$10 billion currently compared to the peak of US$38 billion in 2007. Asian investors have been stepping in to fill the gap.
Historically, Singapore capital has been the most nimble and aggressive in investing across the Asia Pacific region.
It remains an important source of capital, but over the last nine months Chinese and Hong Kong investors have become the most dominant foreign source of capital within the region.
So far this year, Chinese investors have purchased US$3.9 billion worth of assets in Hong Kong and made US$1.5 billion worth of investments in Australian property.
RCA’s Blazkova concluded that uncertainty about economic growth, deflationary pressures and prospects for interest rates, combined with geopolitical risks, are weighing on investor sentiment.
"While the low interest rate environment militates for real estate investment, few investors are prepared to pay asking prices for a dwindling number of assets available in the market as owners adopt a buy-and-hold strategy.
"Nonetheless, the region continues to present good opportunities and we can expect creative approaches especially from foreign investors that wish to invest in the Asia Pacific region.”
The Asia Pacific Capital Trends report also revealed:
• The single largest property sale in Q3 ’16 was the US$658.7 million sale of a stake in Jinqiao Life Hub to Chongbang Development by Keppel Land.
• The largest portfolio transaction was CITIC’s US$4.7 billion (RMB 31.6 billion) residential assets sale to China Overseas L&amp;I.
• Ten cities accounted for 65 percent of overall activity for the first nine months of 2016, as investors continued to focus on city or urban area performance rather than countries.
• New institutional capital is being led by Chinese insurance companies, particularly China Life, Anbang and Ping An, with cumulative domestic and international investments of more than US$10 billion each since early 2012.
• Chinese developers continued to increase their land bank, acquiring US$226.9 billion in development sites over the first nine months of the year. Average development site prices have increased by 54 percent YoY in Q3 ’16, RCA data shows.
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Asia Pacific commercial property investment stabilise in Q3 with portfolio deals masking slowdown on pricing stand-off

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Rosebery Properties and Filetron, a Cottle family company, are selling three separate lots of land with a value of over $100 million in Rosebery.
It is part of an ongoing rapid transformation from industrial to residential.
Located at 12-40 Rosebery Avenue and 108 Dalmeny Avenue, Rosebery, the site consists of a large area of 15,215sqm with existing industrial and commercial buildings equating to 11,722.80sqm generating an existing rental income in excess of $2,000,000 + GST.
The site has a huge dual frontage in excess of 170 metres to both Rosebery Avenue and Dalmeny Avenue and is located within one of Sydney’s strongest new apartment suburbs, with a potential Gross Floor Area of 32,864.40sqm and a height limit of 29 metres.
Agents Michael Crombie and Trent Gallagher of Colliers International have the offering. 
Michael Crombie said it was one of the best sites to come onto the market in 2016.
"It has great scale, over multiple titles, quality buildings and solid income, allowing staging of the development.
“Well known developers have focused heavily on the Rosebery precinct, including Meriton, Mirvac, Stockland, Top Place, LivStyle &amp; JQZ as Rosebery provides a lifestyle choice for the discerning investor or occupier, with so many new trendy eateries within the precinct."
Rates being achieved in nearby residential development projects such as “Symphony” by Meriton a 215 unit brand new development on Epsom Road, Rosebery due for completion mid 2017 are as high as $19,000 per square metre.
Offers close December 6.
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$100 million price tag for Rosebery lots

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Sydney’s rental vacancy trend is steady, according to Herron Todd White’s latest market report.
The property advisory firm states that the rental vacancy situation is that of a balanced market while demand for new houses are fair which is consistent with a steady trend in new house construction due to increasing volume of house sales.
<a href="/images/2016/11/04/Capital%20city%20houses.jpg" target="_blank">Click to enlarge</a>
<img src="/images/2016/11/04/Capital%20city%20houses.jpg" alt="">
The Sydney property market is rising with new properties occasionally sold at prices exceeding their potential resale value.
Other balanced markets include Brisbane, Melbourne and Canberra.
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Sydney's balanced rental vacancy: HTW

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Another Melburnian, businesswoman Penelope Maclagan has emerged as a prestige Byron Bay buyer.
She's behind the $5.6 million purchase of Seregenti on the exclusive Lighthouse Road.
It was sold by Unique Estates Ruth Gotterson and Nicolette van Wijngaarden in conjunction with Byron Bay McGrath's Ian Daniels and Nick Dunn
She bought the four bedroom home overlooking the ocean in August for the joint biggest sale in coastal suburb this year.
Set on 713 sqm, the luxury home features an abundance of terraces and a salt water swimming pool with poolside accommodation.
Penelope co-founded in software company Computershare, ranked among the 10 richest Australian business woman.
Maclagan has listed her Byron Bay apartment with a price guide of $1.6 million to $1.65 million through Byron Bay McGrath.
Last year spa king Eddie Phillips sold on Lighthouse Road for $6.3 million to Melbourne based businessman Mark Ruff.
The home, Villa Natasha Bonita, has five bedrooms and five bathrooms.
Earlier this year Real Estate of Distinction agent Janis Perkins sold Wattai at Watego's a renovation by Grand Designs host Peter Maddison.
The acclaimed architect spent two years renovating the luxury Byron Bay Beach house, which sold for $5.6 million to a relative local.
It was sold by Melbourne property developer Allan Sinclair, the father of Sydney Swans footballer Callum Sinclair.
The most striking feature of the four bedroom home is the 183 sqm rooftop terrace complete with 10 person spa.
In 2011 Sussan fashion chain executive chairwoman Naomi Milgrom, usually dubbed Victoria's richest woman expanded her Byron Bay holdings. She spent $6.2 million to buy the 1200-square-metre property adjacent to her $4.75 million acquisition in 2007. It took her hillside holding to 2130 square metres.
Milgrom's 2007 purchase was from the Melbourne-based Asciano boss Mark Rowsthorn, who had bought the property in 2002 for $2.825 million from John Weller, the former Melbourne solicitor who made international news when he won the first case of child maintenance for a man in the 1970s.
Rowsthorn upgraded to Marine Parade, Wategos, where he paid $6.2 million in late 2006.
This article was first published in the Saturday Daily Telegraph.
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More Melburnians buy the best in Byron Bay 

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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