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DEXUS Property has advised occupancy (by area) at Grosvenor Place, Sydney increased to 96 percent from 94.5 percent at 30 June 2016.
 
It also secured 2,981 square metres of leasing at 385 Bourke Street, Melbourne increasing occupancy to 97.9 percent from 94.5 percent.
 
The advisory was part of DEXUS Property Group updating the leasing status across its property portfolio.
 
It advised it had leased 54,734 square metres of office space across 78 transactions, with occupancy maintained at 96 percent.
 
It also leased a significant amount of industrial space in a three month period securing 158,811 square metres1 of industrial space across 47 transactions, with occupancy improving to 92.3 percent.
 
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Key metrics
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30 September 2016
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30 June 2016
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Occupancy by income
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96.0%
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96.3%
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Occupancy by area
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95.9%
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96.3%
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WALE by income
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4.9 years
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4.7 years
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Average incentive
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15.4%
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17.7%
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Kevin George DEXUS Executive General Manager, Office &amp; Industrial said the strength of demand in the Sydney office market continued to flow through to the DEXUS portfolio during the quarter.
"We have seen our overall average incentives fall across the portfolio, driven by some properties which are in high demand and as a result have achieved solid growth in rents and reduced incentives at these properties.”
Notable activity for the quarter included:
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<li>Securing leasing commitments across 10,784 square metres of space at 30 The Bond, Sydney, after the surrender of office space previously occupied by Lend Lease – including securing a new lease with Roche across 4,418 square metres. Only 5,347 square metres remains to be leased at 30 The Bond</li>
<li>Securing three new leases with various tenants across 4,000 square metres at Waterfront Place, Brisbane</li>
<li>Renewing a lease with the South Australian State Government across 9,253 square metres at 11 Waymouth Street, Adelaide</li>
</ul>
Despite the surrender of lease by Lend Lease, occupancy (by income) only decreased slightly to 96.0 percent from 96.3 percent at 30 June 2016 across the total office portfolio, while the weighted average lease expiry (WALE) increased by 0.2 years to 4.9 years.
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j.ballantyne1990-6AQqhLzZaK

Grosvenor Place, Sydney sitting at 96 percent full

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Wanaka, one of the largest freehold high country stations, has been listed for sale.
The 6639 hectare Lake McKay Station is one of the Southern Lakes' most prominent properties.
It comprises a diverse outlook of mountainous terrain, natural gorges, stream and premium pastureland, as well as views over Wanaka and Mount Aspiring.
The luxury homestead was designed by Dunedin architect Mason &amp; Wales and has four bedrooms, three bathrooms, a games room and a boot room.
There's also a three-bedroom manager's residence, two bedroom staff quarters, a modern woodshed, large implement shed and sheep and cattle yards.
<img src="/images/2016/10/27/NZ%20PIC.jpg" alt="" width="509" height="340">
It's being sold by prominent Auckland-based businessman Colin Harvey and his wife Mary.
They purchased the farm in 2008 and have overseen the installation of a $2 million irrigation system, as well as the addition of a 135 hectare parcel of land.
They have ran it as a successful sheep and cattle station.
“It’s been an amazing journey in Wanaka,” Colin says. They are moving to spend more time with family and focus on business interest in Auckland.
New Zealand Sotheby’s International Realty sales associate Matt Finnigan says the property’s proximity to the Wanaka township, together with its diverse farming and recreational attributes, make for an attractive opportunity. 
“Lake McKay Station is situated in a dress-circle position overlooking both Lake Wanaka and Lake Hawea,” he says.
“The current owners have invested heavily in developing its infrastructure and irrigation, therefore the property has a solid farming backbone.
"It’s also completely accessible by vehicle, which is rare in a high country farm of this scale, and the views from all corners are extraordinary.”
 
 
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Wanaka's Lake McKay Station in New Zealand listed

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A significant landholding in Sydney’s North Strathfield comprising 23 separate residential houses is being offered for sale.
Some $90 million has been suggested as the likely selling price through JLL.
Located at 1-5 &amp; 9-19 Brussels Street, 126-134 George Street, 2-4 &amp; 8-20 Mena Street, North Strathfield, NSW, the site measures approximately 13,760 square metres.
The property has potential for a larger residential development, subject to council approval on the current proposed zoning changes for the precinct.
The site is currently zoned R2 – Low Density Residential and will be sold conditionally on rezoning. 
The property has three street frontages to Brussels Street, George Street and to Mena Street, and is approximately 550 metres from North Strathfield train station.
“This is one of the first sites of this size that has been offered for sale in the Inner West precinct,” said JLL agent Michael Binskin.
Offers close November 23.
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$90 million expected for 23 adjoining Strathfield homes

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Hughesville, a heritage-listed home in Queensland's Eight Mile Plains, has sold for $1.3 million.
It is set to become real estate offices.
After spending over four years on the market, I-Sale Property bought <a href="https://www.realestate.com.au/property-house-qld-eight+mile+plains-116979219" target="_blank">2497 Logan Road</a> which had $1.7 million hopes in February 2012.
It was only the fourth time the home has traded since 1892. It last sold for $1 million in 2007 to Bennett Carroll Solicitors.
Designed by architect George Campbell-Wilson, Hughesville was originally built as a wedding gift for local horse dealer Richard Hughes. It remained in the Hughes family for a century.
Its original grandeur was restored in 2004 after plans were approved by the Queensland heritage council. 
Set on 3366 sqm, the Queenslander has three offices and a meeting room.
In the late 1990s Hughesville was featured as a home being renovated by a couple in a XXXX brewing commercial.
MV Real Estate selling agent Lynda Roberts said it was difficult finding the right buyer due to its heritage restrictions.
“There was a lot of people wanting to use it as a wedding venue, but couldn’t due to the tight restrictions,” she said.
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Historic Hughesville sells outside of Brisbane

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Ray White Hotels Australia and CBRE Hotels have listed the beachside institution, The Clovelly Hotel.
It has been trading for over 150 years.
"The Cloey is one of those folklore hospitality businesses that most Sydney-siders, and numerous others from much further afield, will have an affinity with" commented Andrew Jolliffe.
Iris Capital bought it in 2008 and extensively renovated in 2012.
Conjunction agent Daniel Dragicevich noted an element of the $9.1M in annual sales is notionally underwritten by the sheer weight and regularity of visitors to the area.
"There's no coincidence that the list of owners of other iconic beachside hospitality properties reads like a veritable hotel industry hall of fame roll call" concluded Daniel Dragicevich noting Justin Hemmes (Coogee Pavilion), Chris Cheung (Coogee Pavilion), Kim Maloney (Bondi) and Arthur Laundy/Fraser Short (Watsons Bay). 
The Clovelly Hotel is being sold via an international EOI process until November 23 meaning the successful purchaser can potentially take advantage of the legendary Christmas and New Year trade enjoyed by the hotel.
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Iconic Clovelly Sydney hotel hits the market in time for summer ownership

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An offshore Chinese buyer has secured the 19th Hole Shopping Centre in Woodend, acquiring the 18,201sqm site for almost $18 million.
The neighbourhood shopping centre was listed for the first time in 50 years by Colliers International who fielded more than 150 enquiries from local, syndicate, institutional and offshore buyers.
Located in Woodend, about 70km north-west of the Melbourne CBD, 19th Hole Shopping Centre is a Coles-anchored neighbourhood shopping centre with 18 specialty tenants.
Leased at 100% and returning a net income of $1.48 million, the Coles anchor is expected to vacate at the conclusion of its lease in February 2019.
“19th Hole Shopping Centre was a complex transaction due to the imminent departure of the Coles anchor,” agent Tom Noonan said.
“As part of our strategy, we approached a number of supermarket operators prior to campaign launch and discussed the opportunity to backfill the Coles space.
“Integral to the successful sale was identifying the repositioning opportunity to prospective purchasers and providing upfront solutions to any immediate shortfalls, allowing buyers to refocus on price and terms.”
The centre traded on an initial yield of 5.11 percent excluding the Coles income, further underpinning the strong appetite for Victorian retail investments and another example of a first-time retail acquisition by an off-shore buyer.
“The campaign attracted an overwhelming amount of enquiry, with a growing number of local and off-shore privates looking to acquire shopping centre assets,” Mr Noonan said.
“A lack of core stabilised assets coming on market is seeing an increased number of buyers move up the risk-curve, which in turn is seeing extremely strong results for assets such as 19th Hole Shopping Centre.”
Mr Noonan said 2016 had seen very few shopping centres transact in Victoria year-to-date.
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Chinese buyer secures Woodend neighbourhood shopping centre

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Trafalgar Lane, an $86 million mixed-use development in Woolloongabba, has secured strong rentals since settlement of the off the plan sales.
All apartments in the 147-apartment project settled following completion in July.
All of the of the available rental apartments available were leased within 60 days of settlement.
The project was developed by Melbourne-based diversified property group Pellicano whose settlement success comes at a time when investors and developers are questioning the strength of the local Brisbane market.
Pellicano managing director, Nando Pellicano says the company had been in Brisbane for 19 years.
"We foresee substantial more growth and opportunity to come in select areas of Brisbane including Woolloongabba due to its proximity to the CBD and attractive existing lifestyle amenity nearby.
“We undertake careful feasibility studies and research when considering a project, and then spend a considerable amount of time and dedication on the design phase to create functional apartments that will stand the test of time.
“With a good quality product, reasonable prices and a high growth location, settlement risk is dramatically reduced. These rules can be applied consistently across the market and we have recently witnessed the results with the success of Trafalgar Lane.”
The twenty-storey development features 147 apartments designed by architecture firm DBI Design.
Twenty per cent of the residences were bought by owner-occupiers, with the remaining 80 per cent snapped up by discerning investors.
The majority of tenants are affluent young professionals who work in the immediate area and Brisbane CBD, only two kilometres from the project.
Trafalgar Lane itself features extensive amenity, with residents enjoying access to the Trafalgar Residences Retreat, complete with lap pool and spa, sauna, steam room, gym, yoga lawn, residents’ lounge, barbeque area and media lounge.
The one, two and three bedroom apartments feature an edgy and modern design, with floor-to-ceiling windows boasting views across the Gabba to the Brisbane River and the CBD. 
The development also features a unique retail aspect on the ground floor – an intricate laneway design connecting Stanley and Trafalgar Street where the development is located.
“We worked hard to create a distinct ambience for the laneway, which features raw timber finishes and exposed piping to create an industrial feel,” says Pellicano.
“This fitout reflects Woolloongabba’s transformation from an industrial hub to a true lifestyle destination, which is now home to some of Brisbane’s best restaurants, shops and cafes.”
Pellicano has also seen outstanding success at its joint venture with Perri Projects, the $600 million urban regeneration project South City Square, also in Woolloongabba. The partners recently announced $190 million in sales across its first three towers, further demonstrating buyer demand for quality, well-located apartments
“The state of play in property is more complicated than a simple ‘oversupply’. Supply isn’t oversupply until it is built, and constricting forces on the market are preventing some of the less feasible projects from even hitting the market in the first place,” Pellicano says.
“The product we are building is servicing the market, and the supply is being absorbed both at the sales and at the leasing end,” he said.
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Woolloongabba's Trafalgar Lane secures settlement success and rental results

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Melbourne’s north has seen strong take up of space over the last year on the back of growing tenant demand, particularly from food, logistics and packaging businesses, according to Colliers International's latest report.
Properties within the 5,000-10,000 square metre range have seen the largest take-up in the year to date, with more than 54,000 square metres absorbed - nearly doubling since last year.
Vacancy has declined considerably by approximately 45% over the 12 months to August 2016 to be around 236,706 square metres, with much of this vacant space attributed to lease expiries.
While part of this is due to the lack of speculative development and more focus has been on prelease commitments, much of the absorption was from several deals being made in the 5,000 square metre plus range in the first half of 2016, which includes 141 National Boulevard, Campbellfield being leased to food distributor Bio-Living, and 27 Transport Drive in the Somerton Logistics Centre.
In addition, the latter half of 2015 saw quite a few large deals being made for properties above 10,000 square metres, with the most notable being the 40,000 square metre commitment by Murray Goulburn to the Austrak property.
Businesses continue to be drawn to the north’s robust road infrastructure attributes which include the Hume Highway as a corridor for the transport of freight between Sydney and Melbourne, immediate access to major arterials, close proximity to the Melbourne airport, and transport links to the Port of Melbourne.
Activity in the north’s industrial precinct over the next few years will be driven by rising opportunities for growth, through impending infrastructure development strategies and the strength of key industries such as Food and Fibre, and Transport and Logistics.
Significant transport and road infrastructure projects include the widening of the Tullamarine freeway which is currently underway, the new intermodal freight hub in Somerton (Austrak/DP World Australia) and upgrades to roads (including O’Hearns Road, Yan Yean Road and Bolton Street).
These improvements should provide opportunities for business growth and generate demand in all sectors of the industrial property market.
A low cost business environment and attractive rental rates have continued to spur tenant interest - average net face rents for prime grade assets are currently at $78 per square metre, while secondary grade assets lease for $58 per square metre net.
There has also been a notable increase in tenant enquiry from food groups, particularly within the local government area of Hume which has seen a comparatively higher number of leases within this sector than in 2015.
As Australia’s largest producer and exporter of food and fibre, this sector accounts for more than half of Victoria’s total goods exports. The food and fibre industry should continue to strengthen on the back of growing global interest and increased strategic opportunities as one of the state government’s six priority sectors within the Future Industries Fund, which should drive the demand for industrial space and help absorb impending vacancy from automotive manufacturing facility closures.
Investment activity has also continued to ramp up, evident in major deals being made over the year. One such deal was the sale of the 11,717 square metre Campbellfield property on 36-52 National Boulevard by Property Link, located on 36-52 National Boulevard, which sold to a local owner occupier (also a food group) for $9.6 million, in a Colliers International negotiated deal.
While land values have remained steady in the $240-275 per square metre range for Prime Grade assets over the last six months, the demand for land (from a mix of developers and owner occupiers) in close proximity to the Hume Freeway has continued to grow, predominantly in Epping and bordering areas.
Moreover, current land supply has also been tightening around Epping precinct with limited serviced blocks available at MAB’s Alliance Business Park and McMullin’s Northpoint.
The lack of land supply and fewer opportunities for developments should translate to solid growth in land values over the next 12-24 months.
The underlying demand saw average Prime Grade yields compressing by approximately 40 basis points over the last year to be in the 6.5-7.5% range and we believe there is further scope for compression, particularly for well-located properties, which are in limited supply.
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Melbourne's north industrial market continues to improve: Colliers 

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Victoria continues to attract both local and off shore investors due to the strong growth of the local economy, record low interest rates, booming infrastructure investment and growing population, according to Colliers International’s latest report.
Average yields have compressed by 50 basis points over the year to 6.75% across the Melbourne metropolitan area, from the combined effect of strong offshore capital inflows and high demand from onshore investors.
However, super prime assets with long WALES and exceptional tenant covenants are attracting sub-6% yields.
Colliers expect strengthening demand to translate into further yield compression over the next 12 months, given that there is plenty of capital with fewer investment opportunities.
“So far this year, more than $900 million worth of sales have transacted in Colliers negotiated deals alone, half of which was attributed to portfolio transactions including $460 million worth of Melbourne industrial assets from the Goodman portfolio, $68 million from the Charter Hall portfolio and the Alex Fraser portfolio ($44 million). Portfolio transactions have continued to gain favour in the industrial market, given that the majority of buyers comprise of institutions looking to purchase larger assets worth over $100 million,” the report stated.
If booming infrastructure investment and ongoing structural change in Port Melbourne are any indication, the next few years are going to be a defining period for industrial property located on the cusp of all this activity.
Infrastructure assets continue to attract investor appetite, with the Port of Melbourne being particularly attractive, primarily due to its sheer scale and underlying potential for development.
Fisherman’s Bend has seen a number of significant developments which are likely to change the course of the industrial property market and underpin growth over the foreseeable future, particularly for properties within close proximity to the port. This includes the acquisition of the Port of Melbourne on a 50 year lease for $9.7 billion by a pool of four investment funds (Future Fund, QIC, Global Infrastructure Partners and Canadian pension group OMERS), which, while providing greater access to capital should also transform the landscape for freight and logistics through proposed automation and transport links, bolstering productivity while benefitting trade and attracting investor demand.
The state government has also taken significant interest in the Fishermans Bend precinct, with one such measure being the purchase of the GM Holden facility as an aerospace, defence, marine and automotive design precinct for $130 million.
The state government recently released a report on its vision for the Fishermans Bend precinct which outlines major urban renewal particularly in the Lorimer, Montague and Sandridge precincts, a proposed high frequency East-West rail linking Fishermans Bend to the CBD and further links to Melbourne’s transport network through light rail and high frequency bus routes.
"Assets with shorter lease expiries have continued to gain momentum in the market, particularly for properties with a redevelopment potential. Areas such as the Montague and the Sandridge precinct have been seeing strong tenant demand for leases with short WALES varying between two to three years, where much of the properties within this region serve as holding income for investors seeking to redevelop these assets and are awaiting permits," the report stated.
As these residential conversions come to fruition, surrounding areas such as Cook Street, Lorimer and the Fisherman’s Bend Employment precinct should see a significant take up in industrial space, given the flow on effect of tenant demand from the more tightly held mixed use areas.
Average net face rents for Prime Grade assets are currently at $180 square metre and given that there is limited new supply in the pipeline, industrial assets should continue to see growth over the medium to long term, as supply remains limited on the back of increasing residential conversions.
Developers have been hotly pursuing land with a redevelopment upside for purposes of conversion to commercial or residential use. This has resulted in a large take up of land within the city fringe area and as such, the demand for land largely exceeds the in flow of supply, which has led to land values soaring by more than 33% in the last 12 months alone.
The same trend has been seen across the industrial property as a whole, particularly for institutional type investors looking to purchase industrial assets above 5,000 square metres, given that there has been little or no supply coming onto the market.
In this environment, yields compressed 38 basis points over the year to be in 6-7% range, with scope for further compression in the next 12 months, as growing demand continues to outstrip supply.
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Fringes of Melbourne will see growing demand for industrial properties: Colliers

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Upon returning to Queensland Reds, former ACT Brumbies captain Stephen Moore has sold his Canberra family home.
Peter Blackshaw Real Estate agent Rowan Glanville sold the four bedroom home pre-auction to a local family.
Rowan said more than 40 groups had inspected the house since it hit the market three weeks ago.
Set on 1960 sqm, the <a href="https://www.realestate.com.au/property-house-act-yarralumla-123745438" target="_blank">Yarralumla home cost $1.65 million in 2014</a>.
The property is almost double the size of the traditional quarter-acre block that characterises many of Canberra’s established suburbs.
<div>“We’re very sad to leave Canberra,” Moore told Domain.</div>
<div>
“The decision to move up to Queensland happened very quickly.
"Now that it’s happened we’re excited by the challenge, particularly for me with my career, [but] Canberra’s been such a big part of my life.
“It’s where both our kids were born, it’s the only place in Australia where Courtney, my wife, has lived, so for her it’s very much home in terms of Australia.”
</div>
Moore and Courtney have bought into Queensland, paying $1.5 million for a three bedroom home in Bardon.
 
 
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Wallabies skipper Stephen Moore sells in Canberra

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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