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CVA Property Consultants have sold a retail investment at Craigieburn Plaza.
The 310 sq m space fetched $1,450,000 when sold to a local investor.
The premises is leased to Bottle-O Steve’s Liquor on a four by four year term.
It has a rental return of $80,000.00 per annum plus GST net, representing a yield of 5.5 percent.
The shop comprises a frontage of 10 meters, walk in cooler, storeroom and rear access with loading facility next door to Woolworths.
Bakers Delight, NAB, Subway and Priceline share car parking of approximately 300 car spaces.
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j.ballantyne1990-6AQqhLzZaK

Craigieburn Plaza Bottle-O premises sold at $1.45 million

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Fitzroys has achieved a second landmark sale in Melbourne’s west in recent weeks, with a prime Williamstown retail site fetching $7 million under the hammer.
The 738sqm corner property at 20-26 Ferguson Street, comprising seven titles offered as a whole, sold under the hammer on a 3.85 percent net yield.
A local Williamstown resident was the successful bidder of four parties that competed for the site in front of around 70 people.
Fitzroys agents James Gregson and Michael Ryan handled the campaign on behalf of a private investor, who acquired the site in 1983 for $190,000.
It follows Fitzroys’ recent sale of the nearby retail site at 5, 7 &amp; 9 Ferguson Street under the hammer for $4.225 million, which Gregson and Ryan also handled.
The three adjoining shops were offered in one line and sold $300,000 above reserve, with the sale price reflecting a tight 3.4 percent yield.
The 20-26 Ferguson Street offering included five shops and two dwellings/offices across a total building area of 761sqm, with a 28-metre frontage to Ferguson Street, three street frontages and rear parking.
The property was offered with leases to long-standing tenants, including Yambuki Japanese Restaurant, Ella Bache, Cocoa Latte and H&amp;R Block, with a combined return of around $290,000 per annum.
Ryan said the property had a long-term development upside.
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Prime Williamstown retail site sold for $7 million

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Southlands, a Gerringong trophy offering tree change by the sea, has sold for $2.5 million.
Offered for the first time in 20 years, <a href="https://www.realestate.com.au/sold/property-house-nsw-gerringong-122957566">82 Sims Road</a> comprises 12 hectares of lush green landscape just a short walk from the beach and the local town.
The main three bedroom, two bathroom weatherboard homestead has French doors which open onto the verandah that offers sweeping elevated views over Werri Beach and the surrounding vineyards.
The views stretch around some 50km south to Crookhaven Heads.
“It’s just a beautiful spot and it’s a very grounding way to live,” vendor Paul Brady told Domain. 
“This place just becomes part of your spirit and we’ve never stopped feeling grateful for that.
“There’s no road noise, no neighbours, no traffic, nothing to break the sense of having left the world behind.” 
The Brady's added a second two bedroom, self-contained cottage in 2008 and renovated in 2014.
Michele and Matthew Lay at Ray White Kiama sold the home. They had a listing price of $2.9 million.
Michele said with Southland’s rural zoning, it could be run as a vineyard, restaurant or bed and breakfast, subject to council approval.
A small parcel of the property is home to 100 year old western red cedars listed as protected rainforest, while wildlife is abundant, including wallabies, echidnas and native birds.
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Southlands offering tree change by the sea sells at Gerringong

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Recent market conditions in Alice Springs have provided challenging times, however there are some areas are showing some bright glimpses, according to Herron Todd White’s (HTW) latest monthly market report.
The property advisory firm says that they have observed good activity within the main town and rural area.
"We have seen good activity in the $650,000 to $750,000 price range both from within the main town boundaries and from the rural residential area," the HTW report said.
One example would be a four bedroom home at <a href="https://www.realestate.com.au/sold/property-house-nt-alice+springs-106467633" target="_blank">10 Irlpme Court</a> (pictured above) that was recently sold for $700,000.
This market segment in Alice Springs is not generally impacted by first home buyer considerations with most buyers being subsequent home purchasers.
A buyer in this price range will be able to secure a property in the golf course suburb of Desert Springs, typically with three bedroom and a study or a four bedroom home.
The standard of renovation will vary, however typically included on a 1,000 square metre allotment (approximately) will be an in ground pool, double garage and verandah.
"Conversely we have seen some price points really struggling in recent times," the report said. "The strata titled unit market has seen both reducing values and historically low transaction numbers."
Historically this segment has been ideal for first home buyers, however the NT government removed the first home buyers grant for existing dwellings in December 2014 which had a significant detrimental impact on the segment.
The recent NT election has seen the Labour government provide stamp duty concessions of up to $24,000 for first home buyers, with some early signs of stimulus in this segment already evident.
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Challenging time for market in Alice Spring: HTW

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Sales evidence indicates that most of the dwellings sold in the past 12 months in Mount Gambier were in the $200,000 to $250,000 price range, according to Herron Todd White’s (HTW) latest monthly market report.
The property advisory firm says that the $200,000 to $250,000 price range is affordable for owner occupiers entering the market and for investors looking for a property that provides a stable rental return. The $251,000 to $300,000 segment and $301,000 to $400,000 are also price points that have been favoured among buyers within the past 12 months.
A dwelling within the price range of $200,000 to $250,000 is generally of average to good quality, including three to four bedrooms, one or two bathrooms, car accommodation and an undercover outdoor area. The dwellings are generally of brick or stone construction.
One example would be a three bedroom home at <a href="https://www.realestate.com.au/property-house-sa-mount+gambier-123783986" target="_blank">9 Currawong Crescent</a> (pictured above) that is for sale for $219,500.
Living areas range from about 150 to 200 square metres and the properties are located on roughly 700 to 900 square metre allotments. These houses vary in age from the stone dwellings constructed circa 1950s to brick dwellings constructed circa 1980s to 2000s.
A circa 1998 brick dwelling with three bedrooms, two bathrooms and a double garage under the main roof. Ancillary improvements include a pergola. Living area is 160 square metres and the dwelling is situated on a 756 square metre allotment.
For this price you can also get a modern residential unit including two to three bedrooms, one bathroom and a single garage under the main roof, such as the one below. These units are generally located on roughly 200 to 500 square metres allotments.
A 2013 brick unit with three bedrooms, one bathroom and a single garage under the main roof. Living area is 143 square metres and the unit is situated on a 409 square metre allotment.
Over the past 12 months there have been few dwellings purchased for under $150,000 or over $500,000. Dwellings under $150,000 are generally in less sought after locations and have limited market activity.
Dwellings over $500,000 are at the top end of the market and have a reduced market segment. High income earners generally purchase these properties. These properties are often tightly held and rarely hit the market, which is reflected in the low number of sales occurring each year.
Properties reaching over $500,000 are generally modern homes in a newer residential division or character homes of high quality within close proximity of the town centre.
A circa 2011 stone dwelling with four bedrooms, two bathrooms and a double garage under the main roof. Ancillary improvements include a large alfresco area and two car detached garage. Living area is 335 square metres and the dwelling is situated on a 1,085 square metre allotment. Situated in a modern residential division.
A circa 1920 stone character dwelling with three bedrooms, two bathrooms and double garage. Ancillary improvements include a pergola. The property has been extensively renovated. Living area is 246 square metres and the dwelling is located on a 1,366 square metre allotment within close proximity of the town centre.
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Owner occupiers and investors target cheap Mount Gambier offerings: HTW

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Most agents are reporting a distinct lack of stock across the board in Echuca, but particularly in the standard $300,000 to $400,000 price bracket, according to Herron Todd White’s (HTW) latest monthly market report.
The property advisory firm said that this is having some interesting impacts on the market, including an increasing number of off market transactions as agents have buyers ready. Upward pressure on pricing and, in some instances, some increased pricing for rural residential properties in close proximity to town is also impacting the market.
One example would be a three bedroom home at <a href="https://www.realestate.com.au/property-house-vic-echuca-123670822" target="_blank">56 Simmie Street</a> (pictured above) that is for sale for $335,000.
The tighter supply conditions has been seen through most market segments with several significant larger sales which appear to have been buoyed by lower interest rates and an expectation that they will remain low in the short term.
These include several sales in excess of $1.2 million in recent times and another property which has allegedly just gone under contract for $2.75 million.
In the Sale and general Wellington areas, the $250,000 to $350,000 continues to perform consistently, according to HTW.
First home buyers and young families generally dominate this market segment, purchasing circa 1970 to 1990, three to four bedroom brick veneer properties in established locations.
The higher end properties, generally being those with asking prices over $650,000, tend to experience longer selling periods, with few buyers active in this market segment. Slowing activity in offshore and onshore gas and oil operations based in nearby Longford tends to impact this market segment.
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Lack of supply in Echuca and Gippsland results in tight property market: HTW

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The Emerald residential market currently is considered a buyer’s market, with the best purchasing conditions seen in over a decade, according to Herron Todd White’s (HTW) latest monthly market report.
The property advisory firm says that all price sectors are active.
Agents are reporting a constant flow of new rentals and selling periods for properties appear to have shortened.
Mortgagee in possession sales in Emerald still appear to be minimal.
"Many first home buyers are active and job vacancies remain steady as the worst appears to be behind us," the HTW report said.
The $220,000 to $350,000 market appears to be holding now as new home buyers can buy a good quality, modern home in this range depending on the area of town they choose to live.
One example would be a four bedroom home at <a href="https://www.realestate.com.au/property-house-qld-emerald-123751678" target="_blank">3 Edgewood Drive</a> (pictured above) that is for sale for $300,000.
Most investors are still local with a few multi-unit properties starting to move.
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Gloom lifts in Emerald with residential market in best condition in a decade: HTW

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Price point nor location are the determining factors in the Rockhampton region when determining the most or active sectors, according to Herron Todd White’s (HTW) latest monthly market report.
The property advisory firm says that price point and location are not determining factors in either the most or least active sectors of the market in the Rockhampton region at this point in time.
"More so, the buyer profile and presentation of the property is determining activity or lack thereof in the local market," HTW advised.
The buyer demographic most active in this region over recent months has mainly been owner occupiers looking for either a first home or upgrading under favourable buyer conditions, including record low interest rates and affordable housing prices.
These buyers, whether they are first or subsequent home buyers, are drawn to well priced and well presented dwellings, ready to live in with no renovations or repairs required.
Price points vary considerably for this active market sector, but HTW said it is typically seeing first home buyers at prices up to approximately $300,000 and upgraders from $400,000, depending on their financial backing.
An example would be a three bedroom home at <a href="https://www.realestate.com.au/property-house-qld-norman+gardens-123802782" target="_blank">25 Kingfisher Parade</a> (pictured above) that is for sale for $349,000.
The local investor market has been slower than it has been historically, with job security the obvious reason behind this changing trend in Rockhampton.
Properties that appeal to investors generally would benefit from a maintenance program to attract tenants and enhance rental return.
Given the volume of available housing, buyers have been less inclined to spend their cash reserves on such maintenance and repairs.
"While our local economy is typically quite diverse compared to our regional neighbours to the north, south and west with education, health and agriculture also major employers in the region, the mining and associated services industry downturn has had a significant effect on local investment," the report states.
This has combined with higher rental vacancy rates which makes the region less attractive for the typical mum and dad investors.
HTW noted that Rockhampton has, historically, been more stable compared to other regions.
"Having said this, Rockhampton has historically been a less volatile market than other regional localities," said the report. "+Given recent economic conditions combined with the 2015 APRA changes to investor lending, it is possible that some investor activity will return to the local market as investing in capital cities becomes less affordable."
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Presentation plays vital role in sale of Rockhampton properties: HTW

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The most active suburbs on the southern Gold Coast and Tweed Coast districts are those in proximity of the beach and amenities, according to Herron Todd White’s (HTW) latest monthly market report.
The property advisory firm says that these suburbs include Miami, Burleigh Waters, Burleigh Heads, Palm Beach, Coolangatta, Tweed Heads, Banora Point, Kingscliff, Casuarina, Bogangar and Pottsville.
The favoured price point among buyers for dwellings in the above areas on the southern Gold Coast is between $550,000 and $800,000.
One example would be a three bedroom home at <a href="https://www.realestate.com.au/property-house-nsw-tweed+heads-123679450" target="_blank">5 Murraba Crescent</a> that is for sale for $685,000.
The price point among buyers for dwellings in the above areas on the Tweed Coast is between $450,000 and $700,000, excluding Salt at Kingscliff and Casuarina which is between $700,000 and $900,000.
Buyers generally active at this price point are young local professionals and families. The properties obtainable are generally renovated older style dwellings on the southern Gold Coast.
In the Tweed Coast in particular Salt and Casuarina the properties would be modern dwellings typically having four bedrooms, two bathrooms and a double lockup garage.
The market with the slowest activity is the rural lifestyle market, however, it has improved over the past 12 months.
The slowest price point would be over $750,000.
"Buyers are generally families looking for privacy and green open space," the report advised.
This market is generally slower due to the distance from the coast and amenities such as shopping and schools, HTW said.
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Beachside suburbs in southern Gold Coast attracting buyers: HTW

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The Block's Newcastle couple, policeman Chris and school teacher wife Kim's apartment in Port Melbourne has been listed for sale online.
Marketed as The Game Changer by Simon Gowling and Eleisha Doherty at Greg Hocking, <a href="https://www.realestate.com.au/property-apartment-vic-port+melbourne-123815914" target="_blank">6/164 Ingles Street</a> offers a spacious living environment.
The hero of the apartment is the contrast of textures from the oak wood floors to the evocative exposed brick that compliment the Caeser-stone kitchen.
The kitchens images are yet to be supplied as they haven't been revealed on the show.
The main bedroom fought off the competition to win its category, with its own private sitting room, walk in wardrobe and bathroom.
<img src="/images/2016/10/12/Chris%20and%20Kim%20bedroom.jpg" alt="" width="462" height="247">
The bedroom suite's bathroom is separated in to two sections to offer room for a walk in shower.
<img src="/images/2016/10/12/Chris%20and%20Kim%20bathroom.jpg" alt="" width="458" height="224">
There's terrace entertaining with its own heaters, television screen and honed concrete alfresco kitchen. 
Chris and Kim live in Newcastle with their two kids, who have had them training for The Block long before the show started.
"Our sleep deprivation is just how we live our life."
Kim suggests the pair are a modern contemporary design style, liking everything open, sophisticated and high end.
 
 
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Inside The Block apartments: Chris and Kim's Port Melbourne renovation

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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