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A Caltex service station in the north-western Sydney suburb of Kellyville has sold for $9.4 million.
JLL believes the price achieved represents a new record for the sale of a freestanding service station in NSW since March 2011. According to market sales tracked by JLL transactions have ranged between $6 million and $7 million.
JLL agent Dylan McEvoy said the record sale price equated to a yield of around 5%.
The 2,634 square metre property located at 662 Windsor Road is leased to Woolworths Limited under a new 12-year net lease with two five-year options.  
The property was sold on behalf of Pioneer House Pty Ltd at auction.
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j.ballantyne1990-6AQqhLzZaK

Caltex service station in Kellyville sold for record $9.4 million

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Construction has commenced on the next stage of the $152 million industrial estate New Base in Brendale, Queensland.
Moreton Bay-based AVID Property Group general manager Bruce Harper turned the first sod on Stage 7B at the site.
“In the last 12 months, we have seen good activity from both investors and owner occupiers with 100% of lots sold at New Base,” Harper said.
“The demand for land continues, so we expect the lots released in this next stage to perform just as well.”
New Base marketing agents Dillon Murphy from CBRE Industrial and Mark Horgan from Knight Frank said lots in the area were being sold as quickly as they were being constructed.
“Industrial is currently one of the strongest performing sectors in the commercial property market,” said Murphy.
“Industrial land sales are up from this time last year, which are reflected by peak rates close to those of pre-GFC days. 
“We’ve also seen a 25-30% increase in take up rate of stock in the last 12 months and there’s every sign that this will continue well into the future.”
Horgan said spiking sales were being driven by a number of factors, including A-class stock, location and low interest rates.
“More and more businesses are performing corporate business activities from their industrial facilities than they have before. Businesses are quite discerning in their appearance and are seeking more desirable buildings to portray their corporate image, so the days of older, low height metal clad sheds are now becoming obsolete,” he said.
“These are state-of-the-art facilities with fit-outs that rival some inner-city offices, with some tenants investing up to $1 million on interior office component alone.
“And it’s not just about looks – tenant and owner-occupiers are now seeking more efficient spaces, with increase in warehouse heights to accommodate importing requirements and racking capabilities as well as improved access to facilitate easier truck movements.
“We’ve also had businesses reporting improved staff retention, a reduction in staff travelling time and fewer sick days due to relocation in areas like Brendale.”
Moreton Bay Regional Council Mayor Allan Sutherland said construction on the next stage of New Base reinforced the Moreton Bay Region’s status as Queensland’s strongest economy.
“You only have to look at the businesses that already call New Base home, like Super Retail Group, Aldi and VISY, to see how strong our region’s economy is,” he said
“This is an exciting project that will generate more than 100 local jobs during construction, and once complete is expected to provide vital long-term employment opportunities for residents throughout the region.”
Sutherland said stage 7B would add another element to the existing economic opportunities in Brendale and had no doubt it would be a sought after location with its close proximity to major transport and trade corridors like the 12km Redcliffe Peninsula Line as well as the new Mill at Moreton Bay university precinct just 5km away.
Set on 85 hectares of land and comprising 107 lots, civil construction of Stage 7B at New Base has commenced.
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Brendale’s $152 million industrial estate fast-tracked

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CRONE has won a design excellence competition for a new residential and hotel tower at 230 Sussex Street, Sydney.
Its design integrates the existing heritage-listed Foley Brothers warehouse with a new 115-metre hotel and residential tower.
The warehouse will be adapted to host a striking heritage courtyard and hotel lobby, creating a focal point and activated heart of the Meriton development.
CRONE design director Niall Durney said the tower’s strong connection to the existing heritage warehouse together with references to the surrounding streetscape were the winning qualities of the design.
“The tower sits on a sandstone podium with proportions taken from the adjacent heritage building,” he said.
Construction of the new 230 Sussex Street precinct will commence in April 2017 with completion expected October 2018.
<img src="/images/2016/10/06/230%20Sussex%20Street%20lobby.jpg" alt="">
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CRONE wins 230 Sussex Street hotel design competition

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The Real Estate Institute of Western Australia has assisted in the introduction of new codes of conduct for real estate agents, sales representatives, settlement agents and land valuers which support industry best practice and provide consumer protection.
REIWA president Hayden Groves thanked the Minister for Commerce, the Hon. Michael Mischin MLC, and the Department of Commerce for carrying out a detailed consultation process and working closely with the institute to develop the new codes.
“We congratulate Minister Mischin for working closely with REIWA and other industry stakeholders to ensure the codes benefit all those involved with buying, selling or leasing property,” Groves said.
“It’s important that there are measures in place to ensure the industry maintains high standards of practice and service.”
The Code of Conduct for Agents and Sales Representatives 2016 comes into effect this month with a two month transition period.
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REIWA recognises new codes of conduct for WA property

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Melbourne’s Chapel Street, Prahran and Bridge Road, Richmond are following a downturn, previously seen in Sydney’s Oxford Street, Paddington and Brisbane’s James Street New Farm, according to Gunning agent Malcolm Gunning.
He said in Sydney fashion brands and food demand has been driven by the community, not weekend tourism and shop tops are being split from the retail area and are now in high demand as fashionable flats - a situation soon to be replicated in Melbourne.
“The more established boutique brands have relocated into the Melbourne CBD just as they did in Sydney with the redevelopment of the CBD and opening of Bondi Junction," he said.
“What we are seeing now is that Oxford Street, Paddington has reinvented itself. Rents have come down because of high and prolonged vacancy rates, attracting a new breed of businesses, which has ultimately enabled ‘life after death’.
“Paddington has evolved into a service, restaurant, and provedore area with young fashion brands entering the scene.
“The pubs are undergoing a transformation with Justin Hemmes and his group entering the area, the Paddington Inn, Bellevue in Hargrave Street and The Royal at Five Ways have been renovated. Other venues, best described as gastropubs, are moving towards a focus on food.
“There are also places like Saint Peter, a high end sea food restaurant, which previously would not have been there under the high rents.
“Melbourne will experience the same thing. Chapel Street and Bridge Road, tend to be a tourist destination. As the rents go down the area will evolve too and locals will need to be serviced.
“James Street, Brisbane which is between Fortitude Valley, Teneriffe and New Farm reinvented itself from its industrial business into an area which services the needs of a vibrant local community. It has established brands like Sass &amp; Bide, Camilla, Nudi Jeans well as upcoming designers and high quality food options such as Jocelyn’s Provisions.".
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Key Melbourne retail locations mirroring previous Sydney downturn

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A modern retail investment in Carlton has been sold for $575,000.
The 140 Rathdowne Street property was sold by Fitzroys agents Terence Yeh.
The inner-city strata retail sale price reflected a tight 5.5 percent yield.
<img src="/images/2016/10/25/FTZ_140_RATHDOWNE_0493.jpg" alt="">
Yeh, who acted on behalf of the developer, said a private investor with experience in developments purchased the property.
It was sold with a five-year lease to café Bloom Coffee Bar with two five-year options, returning $32,000 per annum plus outgoings and GST.
The property is on the ground floor of a boutique mixed-use development completed late last year.
The three level complex comprises six ground floor shops and thirteen apartments.
<img src="/images/2016/10/25/FTZ_140_RATHDOWNE_0514.jpg" alt="">
Yeh said the property offered an experienced tenant, long secure lease, excellent exposure and prospects for tax benefits.
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Carlton retail investment sells for $575,000

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A 1930s Dimboola shop located centrally at the main street is for sale for $65,000, the same price it traded for in 2005.
The 290 sqm property at <a href="https://www.realestate.com.au/property-other-vic-dimboola-123838510" target="_blank">112-114 Lloyd Street Dimboola</a> is positioned next to a chemist shop.
It is marketed as an ideal location for the owner occupied or retail commercial investment property.
The shop comprises of a good sized showroom, lunch room and two toilets.
The property is currently leased until December 2016 at $110 per week.
It is offered through Coller Rathgeber agent Garry Price.
<img src="/images/2016/10/18/4%20High%20Street.jpg" alt="">
Recently a three bedroom home at <a href="https://www.realestate.com.au/sold/property-house-vic-dimboola-121766206" target="_blank">4 High Street</a> (above) was sold for $85,000.
A play written in 1968 by Australian author Jack Hibberd brought attention to the Victorian town of Dimboola.
The play, called 'Dimboola', makes fun of a wedding breakfast gone wrong where everything from sectarian issues to tensions among the family of the groom, Morrie, and the bride, Maureen.
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Dimboola main street shop for sale 

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One of Wollstonecraft's largest privately held holdings has been listed for sale with hopes of $9.3 million.
The <a href="https://www.realestate.com.au/property-house-nsw-wollstonecraft-123901906" target="_blank">1905 built Niddrie</a> has been owned by Matthew Levins, who heads up risk consultancy Eirdin Consultin, and wife Sonia for over 20 years.
They paid $1.29 million for the home that was previously owned by the late barrister and pastoralist Frank McAlary.
Set on 2076 sqm, the classic Federation is surrounded by well maintained grounds that features a tennis court, swimming pool and cabana.
<img src="/images/2016/10/28/Wollstonecraft2.jpg" alt="" width="488" height="276">
There's five bedrooms, three bathrooms and a home office. 
It's located across the road from the long-held home of former prime minister John Howard and wife Janette.
Christie's International agents Martin Ross and Darren Curtis are asking $8.5 million to $9.3 million.
The Levins are off to their $2.8 million three bedroom apartment in The Bay Residences in Double Bay.
 
 
 
 
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Niddrie for sale in Wollstonecraft

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Sydney has lived with an affordability ratio in the high range for a decade and a half, without dire things happening, Phil Ruthven, the founder of IBISWorld recently noted.
Ruthven, recognised as one of Australia’s foremost business strategists and futurists, agreed that Sydney prices seem to be well over trend compared with Melbourne.
He concludes that although the Sydney economy and that of NSW are doing well - "indeed the best in the nation" - that it may not protect it from a dwelling price correction in the year or so ahead, or a longish period of prices flat-lining until incomes catch up to restore equanimity.
He told readers of <a href="https://cuffelinks.com.au/" target="_blank">CuffeLinks</a> website that Australia’s economy is not threatened by its world-leading dwelling prices.
Sydney has "lived with an affordability ratio in the high range (3½-4 times household incomes) for a decade and a half, without dire things happening."
"Yes, Australia’s household debt (mainly mortgage debt) as a share of GDP is one of the highest in the world, but manageable.
"And our corporate and government debt as a share of GDP are among the lowest, if not actually the lowest.
"Overall, we are not living too far above our means compared with most other developed nations."
But he signals Sydney as the stand-out loner among our capital cities.
<a href="/images/2016/10/20/PR-Figure5-211016-768x559.png" target="_blank">Click to enlarge</a>
<img src="/images/2016/10/20/PR-Figure5-211016-768x559.png" alt="">
Sydney is the odd-one-out given its prices are so far ahead of the second priciest market Melbourne. The two charts below suggest the degree to which Sydney prices seem to be well over trend compared with Melbourne.
<a href="/images/2016/10/20/PR-Figure6-211016-768x573.png" target="_blank">Click to enlarge</a>
<img src="/images/2016/10/20/PR-Figure6-211016-768x573.png" alt="">
<a href="/images/2016/10/20/PR-Figure7-211016-768x573.png" target="_blank">Click to enlarge</a>
<img src="/images/2016/10/20/PR-Figure7-211016-768x573.png" alt="">
He noted the difference was even more marked when comparing just apartments.
<a href="/images/2016/10/28/PR-Figure1-211016-768x534.png" target="_blank">Click to enlarge</a>
<img src="/images/2016/10/28/PR-Figure1-211016-768x534.png" alt="">
But he noted Sydney had been under-supplied for nearly a decade, whereas Melbourne had gone into overdrive, leaving Sydney over the past year a sellers-market (prices over-trend by 12-13%) and Melbourne the opposite: a buyers-market, with prices 7-8% under-trend.
He concluded that the indications are that price growth is abating as we head into 2017. 
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Futurist Phil Ruthven on whether the housing market is in bubble territory

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A former fire station in Broadmeadow, the Newcastle suburb, is up for November 5 auction.
Located at <a href="https://www.commercialrealestate.com.au/property/9-belford-street-broadmeadow-nsw-2292-2013116438" target="_blank">9 Belford Street</a> it has a land area of 910 sqm with a floor area size of 320 sqm.
It is at the intersection of Belford Street, Samdon Street and Dixon Street with close proximities to the dining and entertainment precinct of Beaumont Street.
Built in 1925 it is prominently positioned within the inner city suburb of Broadmeadow, it has local heritage significance as the red brown brick building is symmetrical and balances former truck garaging with administration areas and residential living quarters.
As it is in original condition, the building celebrates and maintains many heritage items including open fireplaces, pressed metal ceilings and ornate timber windows. It is ideally facing north, the building is a R4 High Density zoned land and is suitable for residential, childcare, retail or commercial purposes with close proximity to public transport.
The auction is on November 5 and is offered through Colliers International agents Nick Christensen and Matt J Kearney.
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Former Broadmeadow fire station for auction

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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