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Melbourne-based freight management company has cemented its presence in the Truganina industrial market, after securing a new purpose-built facility in the area.
Wheadons Freight Management &amp; ERH Refrigerated Transport has signed a 10-year lease on the purpose built truck depot at 34-36 Banfield Court.  
The rental is $450,000 per annum net plus GST.
The 5,500sqm facility features a dual workshop with service pits, a large high clearance warehouse accessed by six recessed loading docks, five on grade roller doors and state of the art offices.
Relocating from its 2,000sqm building in Ajax Road, Altona, Wheadons Freight Management &amp; ERH Refrigerated Transport also purchased the adjoining 12,100sqm block of land for additional truck parking.
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j.ballantyne1990-6AQqhLzZaK

Truganina lease signals confidence in Melbourne’s industrial market

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A Brisbane-based private investor has paid $4,880,000 for the Plains Junction Shopping Centre in Browns Plains, in South East Queensland.
CBRE’s Michael Hedger and Joe Tynan negotiated the sale of the retail convenience centre, which is located in the heart of one of Brisbane’s strongest retailing precincts.
The 28 Browns Plains Road asset was sold on behalf of the long term owner – a Sydney investor who had owned the property for over 10 years. They had paid $3 million in 2004.
Mr Hedger said the centre had a strong national tenant profile with Westpac and Suncorp occupying over 80 percent of the building area, alongside major national brands Woolworths, Officeworks, BCF and McDonalds.
Mr Tynan said the Expressions of Interest campaign had attracted over 110 enquiries, with the strong buyer interest resulting in a tight sale yield of 6.3 percent.
The purchaser of Plains Junction Shopping Centre was represented by commercial buyers’ agent Damien Holliday from Prosper Group. 
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Brisbane shopping centre at Brown Plains Road sold

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There has been a substantial increase in scheduled auctions this week relative to the 853 auctions last week, with CoreLogic tracking 2,161 auctions across the combined capital cities this week.
In both Sydney and Melbourne, the two major auction markets, auction activity is up week-on-week, with 1,085 Melbourne auctions scheduled and 731 homes set to be taken to auction across Sydney.
Despite a surge in scheduled auctions, there are fewer than the 3,016 which occurred a year ago.
Across the smaller cities, auction activity is higher across each of those cities than it was a week ago.
Capital city auctions this week:
• Sydney: 731
• Melbourne: 1,085
• Brisbane: 150
• Adelaide: 95
• Perth: 30
• Canberra: 60
Reservoir in Melbourne is the busiest individual suburb for auctions across the nation this week, with 20 residential homes set to go under the hammer.
Glen Waverley is also quite bust with 17 auctions whilst Bentleigh East, Essendon, Mount Waverley and Pascoe Vale each have 14 scheduled auctions.
<a href="/images/2016/10/06/Capital%20city%20auction%20statistics%20final.jpg" target="_blank">Click to enlarge</a>
<img src="/images/2016/10/06/Capital%20city%20auction%20statistics%20final.jpg" alt="">
Summary of last week’s results:
Capital city auction clearance rates increased last week to 75.8 percent on the back of low volumes due to long weekends and the AFL and NRL grand finals. Last week there were 872 capital city auctions, down from 2,480 the previous week.
Melbourne’s auction clearance rate was recorded at 87.2 percent last week, up from 77.2 percent the previous week. In Sydney, the final results show an auction clearance rate of 82.5 percent up from 80.4 percent over the previous week.
The low volumes resulted in higher clearance rates across both of the largest auction markets and pushed clearance rates above 90 per cent in many regions of both cities.
Across the smaller auction markets, auction clearance rates were lower last week in all regions except for Perth. Despite the fall, Adelaide has maintained a strong clearance rate above 75 per cent.The Sunshine Coast region was the busiest non- capital city region last week, with 52 auctions, however Wollongong recorded the strongest clearance rate at 78.6 percent.
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Scheduled auctions increasing, but still fewer than a year ago: CoreLogic

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A new exhibition at the University of Sydney opening this week will look at housing projects from around the world, which could provide solutions to reducing the cost of housing.
Designing Affordability: Quicker, Smarter, More Efficient Housing Now presents more than 20 case studies of houses and apartments internationally, alongside exemplary housing projects in Sydney, Melbourne and Brisbane.
The exhibition showing at <a href="https://sydney.edu.au/architecture/about/tinsheds/gallery/" target="_blank">Tin Sheds Gallery</a> in the University’s <a href="https://sydney.edu.au/architecture/" target="_blank">Faculty of Architecture, Design and Planning</a> is curated by New York-based Marc Norman, an urban planner who has been a strong advocate for affordable housing for more than 20 years.
“It has been interesting to learn that Sydneysiders are experiencing many of the same issues as New Yorkers where, simply put, development costs are exceeding what most people’s budgets can afford,” said Marc Norman.
“A goal of the exhibition is to look at innovative designs for affordable housing, but also look at the broader issue of housing affordability for housing types and populations.
“The best solutions are those projects where design, finance and housing policy are working in unison and creating replicable models for tackling the housing crisis,” he added.
Through case studies, the exhibition shows how architects, engineers, planners, policy makers, tenants and homeowners are crafting new ways to reduce project costs by rethinking how to build and maintain houses, in addition to rethinking the way people live.
From reimagining public housing models, leveraging land and building incrementally, to reconsidering the home and deploying technology, the exhibition looks at different approaches to reducing housing costs.
<a href="https://sydney.edu.au/architecture/about/people/profiles/m.aitchison.php" target="_blank">Associate Professor Mathew Aitchison</a>, Director of the Innovation in Applied Design Lab at the University of Sydney said: “The most striking aspect of the projects in the exhibition is the breaking of conventional boundaries of architecture, planning, property development, finance and construction. It shows a brave, optimistic, inclusive and wide-ranging attitude to innovate, experiment and improve housing solutions.”
The case studies feature varied solutions for a range of housing types from large, publicly-owned housing projects typical during the 1920s through to the 1970s, to privately-owned multifamily buildings, micro units and row homes.
While the make-up of families is now varied, housing choices have been slow to reflect new trends in the way families now live.  Innovative models that integrate sharing, communal facilities and economic development opportunities to create cost savings and build wealth for individuals and communities, are illustrated.
Universally, the competition for land has intensified and acquiring land can be a significant cost in housing construction. Yet the case studies show how major portions of government land are under used, valued and developed, and presents examples where affordability has been developed or preserved in the heart of cities.
New breakthroughs in technology are highlighted that produce hyper-efficient, ‘smart’ apartments that can make city living more affordable, productive and adaptable to lifestyles. By reconfiguring spaces that are multi-purpose and energy efficient, housing and other public costs can be significantly reduced in the longer term.
A <a href="https://www.propertyobserver.com.au/https://sydney.edu.au/news/architecture/295?eventid=11459" target="_blank">one-day symposium</a> on affordable housing will be held in the University’s Faculty of Architecture, Design and Planning on Saturday, 8 October. Guest speakers include Marc Norman, along with architects, local policy makers and architecture and planning experts from the University of Sydney and other universities in Sydney. They will examine building innovations, living situations and progressive partnerships unique to Australia that could address housing costs and the affordability issue.
Event details:
What: <a href="https://www.propertyobserver.com.au/https://sydney.edu.au/news/architecture/295?eventid=11432" target="_blank">Designing Affordability: Quicker, Smarter, More Efficient Housing Now</a>
When: 6 October - 18 November 2016
Where: Tin Sheds Gallery, Faculty of Architecture, Design and Planning, 148 City Road, University of Sydney
Hours: Tue-Fri, 11am-5pm
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University of Sydney exhibition on thinking outside the box in designing affordable housing

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Richard Norgard, the founder of Jigsaw Capital, and wife, Therese have listed their Tamarama home of 15 years.
The chief executive of the boutique private equity firm had architect William Zuccon designed <a href="https://www.realestate.com.au/property-house-nsw-tamarama-123602862">the Dellview Street house</a>.
There's bespoke joinery throughout the four bedroom, three bathroom house designed by Sally Greenaway.
The home includes a gym, steam room and a swimming pool. There's also a 2500 bottle climate controlled wine cellar.
The buyers' guide for the property is $8.5 million through Pauline Goodyer at Goodyer Real Estate who recently secured the suburb's record sale.
It was when the former fashion retailer Robby Ingham and his wife Sarah sold for shy of $13 million sale for their oceanfront reserve Gaerloch Avenue property.
This article was first published in the Sunday Telegraph.
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William Zuccon-designed Tamarama listing

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Developer Goldfields has unveiled Patch, a contemporary 83-apartment community with an expansive, tree-lined communal area, light, bright and high-contrasting interiors and a striking architectural façade.
Located at 243 Queens Parade in Fitzroy North, Patch is within walking distance of Merri Creek, Clifton Hill and Rushall Train Stations.
<img src="/images/2016/10/05/image003-1.jpg" width="300">
The 12-storey development has 83 one, two and three-bedroom apartments, a communal terrace on level eight and ground floor retail space.
Goldfields’ Managing Director, Marco Gattino, said the company acquired the site with a building permit in place, but chose to partner with architect Fieldwork to refine the offering.
<img src="/images/2016/10/05/1614_Goldfields_QueensPde_HighContrast_Kitchen.jpg" alt="">
 
A communal terrace on level eight is a standout feature of Patch, including a 300 square metre tree-dotted deck, indoor and outdoor dining facilities and a communal kitchen and cooking area that has views of the CBD.
Daniel Cashen at Knight Frank said there had already been a strong response from the market.
<img src="/images/2016/10/05/1614_Goldfields_QueensPde_External_Retail.jpg" alt="">
Most residences will include a car parking space, an additional cage and access to bike storage. 
Patch offers one-bedroom apartments priced from $390,000 up to luxury 240sqm, 3 bedroom penthouses inclusive of 120sqm balcony, for $1,400,000.
Construction is scheduled to commence towards the end of 2016 and expected for completion by the middle of 2018.
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Contemporary 83 apartment Patch complex launched in Fitzroy North

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CBRE has sold 2 Mozart Street in St Kilda – a heritage building comprising six apartments in the coveted ‘Poet’s Corner’ precinct.
The recent auction attracted a crowd of more than 80 people.
There was an opening bid of $3 million before six buyers fought it out until the hammer fell at $4,755,000.
The property, which sits on a prominent 1163 square metre site, sold for a land rate of $4,088 per square metre.
Built in the 1870s, the property has been owned by one family since the 1970s.
 
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Heritage St Kilda building sold for $4,755,000

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Cowes is the Victorian location with a highest number of distressed unit and house offerings, according to Investar’s latest market report. 
Not many are actually on offer, but around 28% of stock are being offered at a discount or distressed price. This is followed by Rosebud with 26% and Morwell with 25%.
The median price at Cowes is $260,000. Units are being rented at a $230 median weekly rent.
Units are averaging 421 days on the market before being sold.
<table border="1" cellpadding="0" align="left"><tbody>
<tr>
<td>
Suburb
</td>
<td>
Postcode
</td>
<td>
Dwelling type
</td>
<td>
Bedrooms
</td>
<td>
% of discounted listings 
</td>
</tr>
<tr>
<td>
Cowes
</td>
<td>
3922
</td>
<td>
Unit
</td>
<td>
2
</td>
<td>
28%
</td>
</tr>
<tr>
<td>
Rosebud
</td>
<td>
3939
</td>
<td>
Unit
</td>
<td>
3
</td>
<td>
26%
</td>
</tr>
<tr>
<td>
Morwell
</td>
<td>
3840
</td>
<td>
Unit
</td>
<td>
2
</td>
<td>
25%
</td>
</tr>
<tr>
<td>
Apollo Bay
</td>
<td>
3233
</td>
<td>
Unit
</td>
<td>
2
</td>
<td>
23%
</td>
</tr>
<tr>
<td>
Dromana
</td>
<td>
3936
</td>
<td>
Unit
</td>
<td>
2
</td>
<td>
17%
</td>
</tr>
</tbody></table>
 
 
 
 
Cowes also ranks high on the discounted house sales list.
The lists are produced using sales listing data, including distressed sale condition keyword analysis.
It identified listings with one or more keywords that would indicate an increased level of seller motivation and calculated this as a percentage of total listings on the market.
It is designed to identify suburbs with the highest percentage of potentially distressed price stock based on the descriptions used by agents and vendors.
Current listings include a home at <a href="https://www.domain.com.au/93-scenic-drive-cowes-vic-3922-2012941328" target="_blank">93 Scenic Drive</a> (pictured above) that is on sale where the price had been advertised as reduced to $305,000. But it was only $4000 lower than it initial $309,000, so hardly distressed.
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Cowes tops list of Victoria's top spots for 'distressed' unit offerings

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The Victorian Dinner Plain alpine retreat and spa has been listed for sale. 
The property at <a href="https://www.realcommercial.com.au/property-hotel+leisure-vic-dinner+plain-502070566" target="_blank">125 Big Muster Drive</a> is currently leased by Merlin Entertainment, which is listed on the London Stock Exchange.
Merlin is Europe's largest entertainment company with 115 attractions in 23 countries across four continents.
The Dinner Plain property has a land area of 2040 square metres with a 1,136 square metre floor area.
It has a long 15 year lease to 2022, with the potential for it to be extended to 2032, and a fixed 4% rent increase plus market reviews.
The tenant pays all of the usual expenses including insurance rates and land tax with substantial income tax saving benefits.
The rent is expected to be $828,936 per annum as of March 2017.
A 12 month settlement term is being offered through Castran Real Estate and Burgess Rawson Melbourne.
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Dinner Plain spa property listed for October auction

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A Darlinghurst warehouse has been listed for October auction.
It last sold at $3.9 million in mid-2015.
The property at <a href="https://www.realcommercial.com.au/property-land+development-nsw-darlinghurst-502108882" target="_blank">278 Palmer Street</a> has a land size of 406 square metres with a floor area of 750 square metres and off-street parking.
The property is available for R1 General Residential zoning.
<img src="/images/2016/10/03/278%20Palmer%20Street.jpg" alt="">
Spanning three street frontages, it is suitable for medium density development with a floor space ratio of 3:5:1 with ability to build over four storeys (STCA).
It has already been DA approved to subdivide into two Torrens Title lots or five Torrens Title lots.
It also has existing use right for commercial or retail use (STCA).
With close proximity to Oxford Street, Hyde Park and the Sydney CBD, the property will be offered via an onsite auction on October 14 through CBRE.
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Potential Darlinghurst residential warehouse conversion for sale

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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