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Melbourne’s inner city apartment market continues to strengthen, with the $3.375 million sale of a development site in Glen Iris.
The auction of <a href="https://www.realcommercial.com.au/property-land+development-vic-glen+iris-502115138" target="_blank">the 29-33 High Street property</a> attracted both local and offshore bidders to compete for the 664 square metre site.
The property has permit approval for a boutique apartment development consisting of 25 apartments and two ground floor retail shops.
A locally based, first time Chinese developer secured the site at a land rate of $5,083 per square metre through CBRE. 
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j.ballantyne1990-6AQqhLzZaK

Glen Iris apartment development site sells at $3.37 million

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A significant dairy farm enterprise in the Port Campbell district has been listed by Ruralco for December 9 auction.
The sale is two adjoining farms with a combined land area of 266.35 hectares.
They are currently operated as one single farm unit, while each farm has a comfortable timber family home on the respective properties.
It is located about five kilometres north of the Port Campbell township and seventeen kilometres south of Timboon.
Major milk and cheese processing infrastructure is available nearby, while the farm is currently a Murray Goulburn supplier.
The eastern property fronting Eastern Creek Road comprises an area of 159 hectares and includes a 40-unit rotary dairy dating from 2007 with a 12,000 litre milk vat, 360 cow capacity yard and a 30 tonne capacity feed silo.
The adjoining second holding of 107 hectares also includes an older style 15-a-side double-up herringbone dairy with a 6,200 litre milk vat, a 250 cow capacity cow yard also a 30 tonne capacity feed silo and a Dairy King feed system.
This dairy was last used for milking in August 2013.
It is judged as being ideal for a farm employee or manager by Ruralco Property agent Peter Worden.
The entire property is currently being operated under the management of Simon Richardson, who says he is comfortably milking up to 300 cows, but with some further investment in development this could be increased to about 600 milkers.
Worden says that the auction is to resolve financial matters relating to a corporate owner.
He anticipates a sale price in the region of $2.6 to $2.9 million.
"I think everyone appreciates that the dairy industry has faced difficult conditions in the main beyond the control of the individual family farm or dairy operator," Worden said.
"This auction is to clear a path forwards and under more normal dairy industry conditions offers of this nature would not be occurring."
"Ï think this offer for sale needs to be judged as an opportunity at what is likely to be close to the cyclical low of the industry and this is a well-regarded and highly productive dairy district of Victoria."
The website <a href="https://www.weeona.com.au">www.weeona.com.au</a> has the offering.
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Murray Goulburn milk supplier farms at Port Campbell set for auction

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Bankwest customers are now able to check the details and status of their home loan application using a real-time, 24/7 online service.
Bankwest’s Andrew Whitechurch said the Application Tracker app had been developed by working directly with customers to understand their needs.
"Customers increasingly expect all organisations, including banks, to be flexible, digitally-connected and more responsive in helping them achieve what matters," he said.
The Application Tracker is a web-based tool designed to keep customers informed throughout the home loan application process from the time the application is lodged, through approval and right through to their first repayment. 
"By listening directly to our customers we found that while they love person to person interaction, in a rapidly evolving digital world they also expect to be able to track the progress of their home loan themselves via digital channels, and to be kept up to date immediately at key points throughout the process," said Whitechurch.
"Customers’ expectations about service and access to information on-line, is being shaped by their experiences in other industries."
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Bankwest launches real-time home loan application app

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Alice Springs is approaching the bottom of the unit market, according to Herron Todd White’s (HTW) latest market report.
The property advisory firm says that new properties sold almost never exceed their potential resale value.
There is very soft demand for new units in the city, which coincides with a declining number of units being sold as well as a declining trend in new unit constructions.
<a href="/images/2016/11/04/NT%20units.jpg" target="_blank">Click to enlarge</a>
<img src="/images/2016/11/04/NT%20units.jpg" alt="">
The rental vacancy trend is increasing, which coincides with a large oversupply of available properties relative to demand.
The only other region in SA, NT or WA with a very soft demand for new units is Darwin.
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Alice Springs' unit market approaching the bottom: HTW

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There is an oversupply of rentals in Townsville with available properties exceeding demand, according to Herron Todd White’s (HTW) latest market report.
The property advisory firm says that although there are issues with rental vacancy, the trend is steady.
HTW said there is fair demand for new houses, which coincides with a steady trend of new houses being built despite increasing volume of house sales.
<a href="/images/2016/11/04/Qld%20houses.jpg" target="_blank">Click to enlarge</a>
<img src="/images/2016/11/04/Qld%20houses.jpg" alt="">
New properties in Townsville are almost never sold at prices exceeding their potential resale value, the report said.
Other regions with a fair demand for new houses includes Whitsundays and Brisbane.
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Townsville housing market currently in oversupply: HTW

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The East Coast capital city suburbs with the highest price growth prove that lifestyle options, strong or improving infrastructure, good schools, local jobs or proximity to employment hubs, public transport and a vibrant ‘village’ atmosphere are key factors in driving prices skyward, according to McGrath's latest report.
Figures compiled by CoreLogic RP Data reveal the suburbs with the greatest house and apartment price growth over the 12 months to June 30, 2016.
A key element in the price growth of many suburbs this year has been a lack of stock, which has intensified competition.
In Sydney, Westmead recorded the strongest house price growth for FY2016 at 33.2 percent.
"We attribute this to the $900 million Westmead Hospital redevelopment project currently underway and a growing resident population of well-paid health service professionals," the report stated.
Westmead is also home to an expanding campus of the University of Western Sydney and is situated right next door to Parramatta, Sydney’s second CBD.
Fairlight recorded the strongest apartment price growth at a staggering 46%.
A shortage of stock combined with a large difference between house and apartment prices and the ripple effect from its beachside neighbour, Manly all contributed to this phenomenal price rise.
In Melbourne, St Kilda East house prices rose 35.4 percent due to improved amenities, gentrification and increased demand from buyers priced out of Albert Park, Middle Park and Elwood.
Carlisle Street in Balaclava, a small suburb in the St Kilda East postcode, has been transformed over the past decade into a buzzy café village where locals love to hang out.
There are shops, major supermarkets, schools, the recently upgraded train station and easy access to the city and St Kilda foreshore.
There are beautiful period houses and apartments protected by heritage order. It’s a great place to live and gaining appeal as a destination suburb.
Brighton had the second highest apartment price growth at 27.3%, reflecting demand from downsizers who have lived and loved the location for 30 years and are now selling their family homes and moving into apartments and townhouses in the same area.
<a href="/images/2016/10/28/Top%205%20house%20growth.jpg" target="_blank">Click to enlarge</a>
<img src="/images/2016/10/28/Top%205%20house%20growth.jpg" alt="">
In Brisbane, house price growth was greatest in Robertson at 25.6%; while beachside Woody Point on the Redcliffe peninsula achieved the best apartment price growth at 24.2%.
Wilston recorded the third best house price growth at 20.3% over FY2016. Wilston is a highly regarded area with a great café village, excellent schools and spectacular homes – many with city views due to the suburb’s elevated position.
Camp Hill enjoyed the second best apartment price growth at 18.9% due to strong demand from first home buyers.
<a href="/images/2016/10/28/Top%205%20apartment%20growth.png" target="_blank">Click to enlarge</a>
<img src="/images/2016/10/28/Top%205%20apartment%20growth.png" alt="">
In the nation’s capital, it’s all about O’Connor, which had the highest price growth for both houses at 21.5 percent and apartments at 15.3 percent in FY2016.
O’Connor is close to everything and has a great café and shopping precinct. Families love the tree-lined streets and good sized blocks and it is in the catchment areas for Turner School and Lyneham Primary School. Being walking distance to the CBD and the Australian National University is also a major drawcard for young buyers and investors.
Identifying Price Growth Hot Spots
Macro Factors
• Strong population growth
• Good local employment or access to job hubs
• Gentrification of housing stock
• Growing household incomes
• Lifestyle amenities – cafes, shops, entertainment and recreation
• Schools and catchment zones
• Presence of big retail brands
• Public transport and walkability
Market Factors
• Rising tenant and buyer demand
• Low or falling days on market
• Low or falling vacancy rates
• More auctions and rising clearance rates
• Reduced vendor discounting
• Limited supply of future housing
<a href="/images/2016/10/28/Top%205%20suburbs.jpg" target="_blank">Click to enlarge</a>
<img src="/images/2016/10/28/Top%205%20suburbs.jpg" alt="">
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Westmead takes top spot for strongest house price growth in FY16: McGrath

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Sydney based property developer JQZ secured the weekend sales of over 200 apartments.
They were sold in under the first two hours of its first sales release on Saturday of Prime, in the heart of Macquarie Park, in what has been predicted to become Sydney's fourth CBD. 
The average prices paid by the majority of local buyers for one-bedroom and one bedroom + study apartments was $653K-$850K, for two-bedrooms and two-bedrooms + study was $1.040M-$1.410M, for three-bedrooms was $1.380M-$1.548M and two-three bedroom penthouses was $1.520M-$2.580M.
<img src="/images/2016/11/07/20161105_2022.jpg" alt="">
Jian Qiu Zhang, Founder and CEO of JQZ said “today’s sales success has been extremely encouraging."
It will be positioned right next door to the prestigious Macquarie Centre, featuring 680 one, two, three and four-bedroom penthouse apartments across four towers, each 20 storeys high. 
Lane Cove National Park will be seen from the north-facing apartments and the Sydney CBD will be seen from the south-east facing dwellings.
David Milton, at CBRE said the penthouses will have internal stairs to access their own private rooftop gardens.
There are 19 penthouses .
<img src="/images/2016/11/07/20161105_2497.jpg" alt="">
JQZ’s own in-house construction team is expected to commence building works in mid-2017.
The Prime sales gallery is open from 11am to 4pm seven days a week.
For more information, visit <a href="https://www.primemacquarie.com.au" target="_blank">www.primemacquarie.com.au</a>.
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JQZ sells 200 off the plan apartment within two hours in Sydney's Macquarie Park

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The penthouse on the 86th floor of Eureka, one of the tallest buildings in the southern hemisphere, has hit the market.
And there's whispers that the 85th floor empty shell is soon set for imminent JLL listing. 
<a href="https://www.rtedgar.com.au/property/424157/8601-7-riverside-quay-southbank/" target="_blank">The 86th floor</a> is a lavish New York style Art Deco inspired apartment listed by entrepreneur Anthony Podesta.
Perched almost 300 metres above Riverside Quay, Southbank, the 660 sqm, whole floor apartment fitout was two years in the making.
It comes with four ensuited bedrooms, a library, large entertaining space, theatre room and even has Eureka Towers only gas fireplace.
There are designer imported fittings, with French oak parquetry flooring and hand crafted Art Deco ceilings. Italian marble is used throughout the apartment.
Podesta, a former high school teacher, made his fortune by founding McMillan Shakespeare, Australia's largest provider of salary packaging and notated leasing.
RT Edgar agents Tim Wilson and Anthony Grimwade are seeking offers over $18 million in conjunction with Melbourne Sotheby's agent Greg Herman.
For the more establishment buyer there's the 99 Spring Street penthouse offering which has been listed by Greg Hargrave. 
This article was first published in the Weekend Australian Mansion Australia property section.
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Eureka penthouse hits the market

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Sam Arnaout, who runs the Sydney-based pub group and developer Iris Capital, is tipped to have expanded his Hunter Valley holdings following the sale by the Kirby family of its Hungerford Hill boutique winery and vineyard in Pokolbin for more than $6 million. 
<a href="https://www.realestate.com.au/sold/property-viticulture-nsw-pokolbin-7840066" target="_blank">Hungerford Hill Property </a>Pty Ltd was registered recently with Arnaout the sole director and shareholder.
Earlier this year Arnaout bought the prized nearby 48 hectare Sweetwater, Hunter Valley vineyard estate.
The Sweetwater Mediterranean-style weekender had been listed at around $12 million by Duncan and Lyn Hardie having come with initial hopes of $30 million.
Arnaout, who entered the hotel industry in 1995, has a whole-floor penthouse in the Bennelong apartment complex which was bought from Margaret Maloney, the widow of the hotelier Cyril Maloney for $18 million in 2015.
Established in 1967, Hungerford Hill Wines is an architectural icon, designed by architect Walter Barda on the Hunter’s most coveted gateway corner location, where 1.4 million visitors pass annually. 
The Kirby family acquired the premium Hungerford Hill brand from winemaker Southcorp in 2002. 
James Kirby developed the 22 hectares of land, mature vineyard, 300 tonne winery/cellar door, wine sales business, leased restaurant, brands and IP. It is a James Halliday 5-star winery.
Iris Capital owns some of Sydney's best-known hospitality venues including the Clovelly Hotel, The Bourbon in Potts Point and The Grand at Bondi Junction and a month ago snapped up the Colombian Hotel on Oxford Street from publican David McHugh for more than $15 million.
He has recently listed the popular Clovelly Hotel in Sydney's eastern suburbs having sold The Crest Hotel in Potts Point and the Crown Hotel Parramatta last year.
This article was first published in the Saturday Daily Telegraph.
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Kirby family sells Hungerford Hill

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More than 100 staff from CBRE Perth will embrace their philanthropic spirit next month, when they join forces to undertake a major rejuvenation project for not-for-profit-organisation, Rise Network.
Rise Network is a Western Australian-based charity organisation providing community support and services to disadvantaged people.
Works include new pathways, wheelchair accessible vegetable garden beds, shaded areas, barbecue areas, fencing and guide rails.
CBRE is aiming to raise $38,000 to fund the project.
CBRE’s Managing Director, Western Australia, Lloyd Jenkins said CBRE was proud to support such an important cause.
"The project forms part of CBRE’s corporate volunteering program CBRE Cares – an Australian wide annual initiative that sees hundreds of staff take part in a range of charity pursuits, he said.
RISE Network provides support to those impacted by mental health issues; people living with disability; aged care services; youth services; and housing support.
 
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Perth unites to show philanthropic spirit

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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