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A Redfern terrace with mixed residential/commercial zoning has sold for $1.9 million.
The property at <a href="https://www.realcommercial.com.au/property-offices-nsw-redfern-502107594" target="_blank">5 George Street </a>has a land area size of 129 square metres and floor area of 140 square metres, as well as one car parking space.
<img src="/images/2016/10/03/5%20George%20Street.jpg" alt="">
It was marketed as a flexible live/work space or commercial office and came with a versatile B4 mixed use zoning.
The zoning permits home occupations without consent and allows for boarding houses, child care centres, commercial premises, community facilities, educational establishments, entertainment facilities, function centres, hotel or motel accommodation, information and education facilities, medical centres, seniors housing, shop top housing and others with consent.
 
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j.ballantyne1990-6AQqhLzZaK

Redfern terrace with home office potential sold at $1.9 million

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Melbourne-based property group and fund manager OpenCorp has acquired new sites to host its latest crowdfunded house and land developments.
Located in Greenvale, 20 kilometres north of the Melbourne CBD, the 168-lot subdivision site is positioned close to the company’s sold out Umbra development. It will be the 23rd project OpenCorp has funded through a property development fund.
Currently under construction, Umbra already is projecting good returns for investors. OpenCorp is currently anticipating a total return of 110% against the forecast of 58%. Its 41% internal rate of return sits against the forecast of 30%.
Like Umbra, investors in the Greenvale development would subscribe to an OpenCorp managed property development fund to participate as equity partners in the new $46 million project.
Based on the success of Umbra, 70% of the $11.4 million of the equity being raised for the development has been committed by one major Melbourne investor.
“They participated in the first Greenvale development and were eager to invest in the subsequent similar development,” says OpenCorp director Allister Lewison (pictured above centre).
OpenCorp have also closed its capital raising offer with the $3.5 million fund being considerably over-subscribed.
The new development fund is forecast to provide investors a total return of over 54%, or an internal rate of return close to 23%.
“Our development funds provide a great way for family offices, high net worth clients and retail investors to invest in developments when they don’t have the time, money or skills to do so themselves,” Lewison says.
“Our 10 year track record combined with average returns of over 20% per annum are proving very popular with small and large investors, given the returns from other asset classes.”
The new Greenvale development is expected to attract first homebuyers seeking a site to build a family home at an affordable price point in anticipation of the City of Hume’s continued rapid growth.
“The Melbourne market continues to remain very robust for quality developments in the right catchments,” Lewison says.
“The sub markets in which we operate are very much focused on strong demand and supply fundamentals.”
Greenvale is located a 30 minute drive from the Melbourne CBD and 10 minutes from Tullamarine Airport. 
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Crowdfunding property developer OpenCorp acquires second Greenvale site

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A commercial investment with a long term tenant in North Melbourne has been sold at auction by Ray White Commercial for $2,140,000.
The ground floor property at 478-482 Victoria Street, North Melbourne was sold under the hammer to a private investor.
The sale by Ray White Commercial Oakleigh’s George Kelepouris on behalf of a private owner reflected a yield of 5%.
Kelepouris said the onsite auction attracted four bidders.
“This approximately 400 square metre building offered a tremendous investment opportunity. It has an established restaurant operator tenant and is returning net rental of approximately $111,136 per annum,” he said.
“The tenant’s current five-year lease commenced in May 2014 and there are four options of five years.”
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North Melbourne investment sold at auction for $2,140,000

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In times of economic uncertainty retail property is largely regarded as a defensive investment due to the large percentage of non-discretionary spending supporting income streams, such as food.
Over the past 25 years, shopping centres have been increasingly acquired by institutional owners who could actively manage, develop and maintain these centres. The global financial crisis severely curtailed the purchasing power of institutions and allowed other buyers to enter the market.
A sub regional shopping centre is generally defined in the industry as a local shopping centre comprising at least one full line supermarket, a full line discount department store and around 40 or more specialty shops.
The total gross lettable area of retail  floorspace will typically range between 10,000 and 30,000 square metres. The key features include convenience and an expanded range of food, fashion and services, located in residential areas servicing many immediate neighbourhoods. Trading hours will generally be extended and will cater for basic day-to-day retail needs.
Clearly, a number of important factors impact the performance of a sub regional shopping centre. The performance of the supermarket and discount department store has a very strong bearing on the returns of the centre. The supermarket and discount department store can be impacted by the range on offer, the price point, the ratio of car parking and opening hours. This, in turn, can impact the performance of the adjoining specialty stores.
The catchment area also impacts the performance of the centre. The road system, the points of access and competition are important factors. Critically, the size and age of the population as well as capacity for growth in population over the long term can have a material impact on centre performance. Increasingly, ethnic factors are playing a role as centres need to deal with strong levels of immigration.
Employment
The retail sector always faces cyclical and structural issues. Some cyclical issues are starting to move in its favour.
Employment is growing strongly in four or five sectors and shrinking in four or five sectors and the jobs gained and lost are not necessarily in the same physical place. This means certain catchment areas are doing it tough and some are doing well.
The size and shape of the workforce has a profound impact on retail property because wages determine spending and jobs de ne catchment areas. Australia is almost unique in the world as being one of very few countries that have expanded their workforce over the last decade. The size of the Australian workforce continues to grow and unemployment edges down.
This has occurred partly because wages growth has been insipid allowing more workers to be hired than may otherwise be the case. Asset price inflation has bolstered household wealth whilst household income growth has been subdued. Positive contributions to household spending capacity have come in the form of lower interest rates, lower petrol prices and greater comfort around job security. Nevertheless, growth in household disposable income remains below average.
The newly arrived population has a profound impact on property because they need somewhere to live and goods to put in their homes. Instant housing and bulky goods demand. Less people leaving the country means fewer houses freed up for those arriving.
With the size of the workforce growing and more people coming into the country (and less leaving), it is little wonder that a record level of housing construction is underway. A moderation in bank lending coupled with changes to taxation on foreign investors and stringent planning rules has seen a recent fall in dwelling building approvals. This leads us to believe we are at, or near, the peak in housing construction for this cycle. 
Consumer spending
Changes in consumer spending patterns since 2007 appear to have had an adverse effect on department store, apparel and discretionary retailing turnover generally.
This has impacted tenants in regional and some sub regional shopping centres. Some sub regional shopping centres have been immune from this. The ABS turnover statistics in the accompanying table show strong growth over a long period in most of the retail categories found at a sub regional shopping centre. Supermarkets have been enjoying strong turnover growth as have their associated liquor stores.
Discount department stores dealing in electronics, household goods including furniture and discount clothing have also enjoyed strong turnover growth. Associated specialty stores such as a chemist, a take away food store, a bakery, a newsagent and other local service providers such as a dry cleaner may be found in the tenancy mix.
<a href="/images/2016/09/29/National%20Retail%20Turnover%20Growth%20by%20Category%20Seasonally%20Adjusted%2012%20months%20to%20May%202016.jpg" target="_blank">Click to enlarge</a>
<img src="/images/2016/09/29/National%20Retail%20Turnover%20Growth%20by%20Category%20Seasonally%20Adjusted%2012%20months%20to%20May%202016.jpg" alt="">
The structural issues facing retail are more formidable but not insurmountable. Savills expects the retail sector to evolve to take advantage of the structural issues rather than be over-run by them. The ageing of the population will continue to create challenges for retailers as they jockey for the dollars of retirees.
Retirees can be expected to prefer services over goods and will not necessarily continue to dwell in their traditional catchment areas. Internet retailing has already changed the face of retailing for certain categories of goods and will no doubt continue to evolve and challenge more categories over time. New business models are establishing themselves.
<a href="/images/2016/09/29/Change%20in%20Moving%20Annual%20Turnover%20by%20Category.jpg" target="_blank">Click to enlarge</a>
<img src="/images/2016/09/29/Change%20in%20Moving%20Annual%20Turnover%20by%20Category.jpg" alt="">
Sales activity
Savills recorded $1.9 billion of sub regional shopping centre transactions nationally in the 12 months to June 2016, commensurate with $1.9 billion in the previous year and up on the five-year average of $1.6 billion.
In the year to June 2016, 20 sub regional shopping centres were sold against 23 the previous year and is commensurate with the five year average of 20 sales per annum.
<a href="/images/2016/09/29/Sub%20Regional%20Property%20Sales.jpg" target="_blank">Click to enlarge</a>
<img src="/images/2016/09/29/Sub%20Regional%20Property%20Sales.jpg" alt="">
There are several factors at work in the capital markets which are having an impact on asset prices. First, there is an abundance of debt and equity available to purchase prime commercial assets on current metrics; second, the pricing of debt and equity domestically, and especially overseas, continues to fall; third, investment fundamentals are sound with no oversupply, little vacancy and good rental growth; and, finally, catchment area fundamentals remain appealing with strong population growth, low unemployment and stable to rising household incomes.
<a href="/images/2016/09/29/Sub%20Regional%20Property%20Sales%20by%20State.jpg" target="_blank">Click to enlarge</a>
<img src="/images/2016/09/29/Sub%20Regional%20Property%20Sales%20by%20State.jpg" alt="">
Institutions remained active in the investment market for the 12 months ended June 2016, purchasing 77% of all sub regional shopping centres sold. Foreign investors continue to pursue sub regional shopping centres purchasing 9% of sub regional shopping centres sold. Conditions for Australian institutions have continued to improve and so private investors are increasingly finding themselves unable to compete.
<a href="/images/2016/09/29/Sub%20Regional%20Property%20Sales%20Buyer%20Profile.jpg" target="_blank">Click to enlarge</a>
<img src="/images/2016/09/29/Sub%20Regional%20Property%20Sales%20Buyer%20Profile.jpg" alt="">
The average initial yield analysed from transactions of sub regional shopping centres in the year to June 2016 was 6.84% and compares to 7.47% the previous year. The average equated market yield analysed from transactions in the year to June 2016 was 6.97% and compares to 7.49% the previous year
<a href="/images/2016/09/29/Sub%20Regional%20Property%20Sales%20Vendor%20Profile.jpg" target="_blank">Click to enlarge</a>
<img src="/images/2016/09/29/Sub%20Regional%20Property%20Sales%20Vendor%20Profile.jpg" alt="">
 . Prime neighbourhood yields at 6.75% in 2006, softening 100 basis points to 7.75% during the GFC and firming 200 basis points to 5.75% currently
. Prime sub regional yields were also at 6.75% in 2006, softening 50 basis points to 7.25% during the GFC and firming 150 basis points to 5.75% currently
. Prime regional (excluding super regional) yields were at 4.75% in 2006, softening 100 basis points to 5.75% during the GFC and firming 100 basis points to 4.75% currently
<a href="/images/2016/09/29/Sub%20Regional%20Property%20Sales%20by%20State%20graph.jpg" target="_blank">Click to enlarge</a>
<img src="/images/2016/09/29/Sub%20Regional%20Property%20Sales%20by%20State%20graph.jpg" alt="">
Given the falling costs of both debt and equity and the adopted “lower for longer” view of Savills Research we believe there is more yield compression to come.
Nationally, shopping centre investment yields have continued to firm as highlighted in the both the chart below and in the tables of recent transactions. Sub regional shopping centres continue to transact across a broad range of yields in line with the characteristics of the individual properties.
<a href="/images/2016/09/29/Buyers%20and%20Vendors.jpg" target="_blank">Click to enlarge</a>
<img src="/images/2016/09/29/Buyers%20and%20Vendors.jpg" alt="">
Sub regional shopping centre yields as at June 2016 currently range between 5.75% and 7.00%. Typically, yields have firmed from the trough in 2010 by 160 basis points for sub regional shopping centres.
<a href="/images/2016/09/29/Market%20Yields%20by%20Centre%20Type.jpg" target="_blank">Click to enlarge</a>
<img src="/images/2016/09/29/Market%20Yields%20by%20Centre%20Type.jpg" alt="">
Outlook
Australia has been enjoying strong population growth for over a decade and this policy of immigration retains bi-partisan support at Federal Government level.
The history of wealth (and real estate wealth in particular) is the history of immigration. Australia, and Australian capital cities in particular, is forecast to enjoy the fruits of strong immigration.
Retail property can be expected to be a beneficiary of strong population growth. Clearly, some catchment areas will do better than others and this will continue to present the greatest challenge and greatest opportunity for investors.
Catchment areas that can grow their populations through new land release or infill development or pro-active planning policies, should show dramatic increases in turnover especially if the ability to increase retail floorspace is limited. Conversely, those catchment areas that cannot grow their populations with limited available new land supply, draconian or archaic residential planning systems and the capacity for expanded retail competition should deliver below average increases in turnover.
Savills is of the view that interest rates will be “lower for longer” and, combined with a weight of investment capital, should continue to see assets keenly sought after and strong yields given prevailing catchment area fundamentals.
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Many factors in play for sub-regional shopping centre success: Savills

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Home prices across the US, including distressed sales, increased year over year by 6.2 percent in August 2016 compared with August 2015.
It increased month over month by 1.1 percent in August 2016 compared with July 2016,* according to the CoreLogic HPI.
The CoreLogic HPI Forecast indicates that home prices will increase by 5.3 percent on a year-over-year basis from August 2016 to August 2017, and on a month-over-month basis home prices are expected to increase by 0.4 percent from August 2016 to September 2016.
The CoreLogic HPI Forecast is a projection of home prices using the CoreLogic HPI and other economic variables.
Values are derived from state-level forecasts by weighting indices according to the number of owner-occupied households for each state.
"Home prices are now just 6 percent below the nominal peak reached in April 2006," said Dr. Frank Nothaft, chief economist for CoreLogic.
"With prices forecasted to increase by 5 percent over the next year, prices will be back to their peak level in 2017."
"Housing values continue to rise briskly on stronger fundamental and investor-fueled demand, as well as lack of adequate supply," said Anand Nallathambi, president and CEO of CoreLogic.
"This continued price appreciation is contributing to a growing affordability crisis in many markets around the country."
 
Home Price Change By State
<table style="width: 400px;" border="1" cellspacing="2" cellpadding="3"><tbody>
<tr>
<th rowspan="3" bgcolor="#943634" width="118">State</th>
<th bgcolor="#943634">August 2016 12-Month HPI</th>
</tr>
<tr><th bgcolor="#943634">Year Over Year</th></tr>
<tr><th bgcolor="#943634" width="144">Single-Family </th></tr>
<tr align="left" valign="middle">
<td>National</td>
<td align="right">6.2%</td>
</tr>
<tr align="left" valign="middle">
<td>Alabama </td>
<td align="right">3.7%</td>
</tr>
<tr align="left" valign="middle">
<td>Alaska </td>
<td align="right">0.6%</td>
</tr>
<tr align="left" valign="middle">
<td>Arizona </td>
<td align="right">5.5%</td>
</tr>
<tr align="left" valign="middle">
<td>Arkansas </td>
<td align="right">2.8%</td>
</tr>
<tr align="left" valign="middle">
<td>California </td>
<td align="right">5.9%</td>
</tr>
<tr align="left" valign="middle">
<td>Colorado </td>
<td align="right">9.1%</td>
</tr>
<tr align="left" valign="middle">
<td>Connecticut </td>
<td align="right">-1.1%</td>
</tr>
<tr align="left" valign="middle">
<td>Delaware </td>
<td align="right">1.0%</td>
</tr>
<tr align="left" valign="middle">
<td>District of Columbia </td>
<td align="right">2.5%</td>
</tr>
<tr align="left" valign="middle">
<td>Florida </td>
<td align="right">7.6%</td>
</tr>
<tr align="left" valign="middle">
<td>Georgia </td>
<td align="right">5.5%</td>
</tr>
<tr align="left" valign="middle">
<td>Hawaii </td>
<td align="right">4.4%</td>
</tr>
<tr align="left" valign="middle">
<td>Idaho </td>
<td align="right">7.4%</td>
</tr>
<tr align="left" valign="middle">
<td>Illinois </td>
<td align="right">3.2%</td>
</tr>
<tr align="left" valign="middle">
<td>Indiana </td>
<td align="right">4.8%</td>
</tr>
<tr align="left" valign="middle">
<td>Iowa </td>
<td align="right">3.8%</td>
</tr>
<tr align="left" valign="middle">
<td>Kansas </td>
<td align="right">4.4%</td>
</tr>
<tr align="left" valign="middle">
<td>Kentucky </td>
<td align="right">4.7%</td>
</tr>
<tr align="left" valign="middle">
<td>Louisiana </td>
<td align="right">2.8%</td>
</tr>
<tr align="left" valign="middle">
<td>Maine </td>
<td align="right">1.5%</td>
</tr>
<tr align="left" valign="middle">
<td>Maryland </td>
<td align="right">1.2%</td>
</tr>
<tr align="left" valign="middle">
<td>Massachusetts </td>
<td align="right">4.3%</td>
</tr>
<tr align="left" valign="middle">
<td>Michigan </td>
<td align="right">5.4%</td>
</tr>
<tr align="left" valign="middle">
<td>Minnesota </td>
<td align="right">5.3%</td>
</tr>
<tr align="left" valign="middle">
<td>Mississippi </td>
<td align="right">3.3%</td>
</tr>
<tr align="left" valign="middle">
<td>Missouri </td>
<td align="right">4.2%</td>
</tr>
<tr align="left" valign="middle">
<td>Montana </td>
<td align="right">5.9%</td>
</tr>
<tr align="left" valign="middle">
<td>Nebraska </td>
<td align="right">5.1%</td>
</tr>
<tr align="left" valign="middle">
<td>Nevada </td>
<td align="right">6.7%</td>
</tr>
<tr align="left" valign="middle">
<td>New Hampshire </td>
<td align="right">4.6%</td>
</tr>
<tr align="left" valign="middle">
<td>New Jersey </td>
<td align="right">1.2%</td>
</tr>
<tr align="left" valign="middle">
<td>New Mexico </td>
<td align="right">3.9%</td>
</tr>
<tr align="left" valign="middle">
<td>New York </td>
<td align="right">6.5%</td>
</tr>
<tr align="left" valign="middle">
<td>North Carolina </td>
<td align="right">4.8%</td>
</tr>
<tr align="left" valign="middle">
<td>North Dakota </td>
<td align="right">1.1%</td>
</tr>
<tr align="left" valign="middle">
<td>Ohio </td>
<td align="right">3.6%</td>
</tr>
<tr align="left" valign="middle">
<td>Oklahoma </td>
<td align="right">1.4%</td>
</tr>
<tr align="left" valign="middle">
<td>Oregon </td>
<td align="right">10.3%</td>
</tr>
<tr align="left" valign="middle">
<td>Pennsylvania </td>
<td align="right">2.0%</td>
</tr>
<tr align="left" valign="middle">
<td>Rhode Island </td>
<td align="right">4.8%</td>
</tr>
<tr align="left" valign="middle">
<td>South Carolina </td>
<td align="right">4.9%</td>
</tr>
<tr align="left" valign="middle">
<td>South Dakota </td>
<td align="right">7.7%</td>
</tr>
<tr align="left" valign="middle">
<td>Tennessee </td>
<td align="right">6.5%</td>
</tr>
<tr align="left" valign="middle">
<td>Texas </td>
<td align="right">6.6%</td>
</tr>
<tr align="left" valign="middle">
<td>Utah </td>
<td align="right">7.7%</td>
</tr>
<tr align="left" valign="middle">
<td>Vermont </td>
<td align="right">1.1%</td>
</tr>
<tr align="left" valign="middle">
<td>Virginia </td>
<td align="right">2.3%</td>
</tr>
<tr align="left" valign="middle">
<td>Washington </td>
<td align="right">10.2%</td>
</tr>
<tr align="left" valign="middle">
<td>West Virginia </td>
<td align="right">7.6%</td>
</tr>
<tr align="left" valign="middle">
<td>Wisconsin </td>
<td align="right">5.0%</td>
</tr>
<tr align="left" valign="middle">
<td>Wyoming </td>
<td align="right">3.8% 
</td>
</tr>
</tbody></table>
 
 
 
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Oregon offers the best home price change YoY for US states

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A former factory at Collingwood is for sale as a five bedroom abode.
The factory at <a href="https://www.realestate.com.au/property-house-vic-collingwood-123636706" target="_blank">10 Perry Street</a> was formerly occupied by Gregory Steel Products.
It comes with a land size of 465 sq m, close to Smith Street's cafe scene.
Zoned commercial 1, the property can feature an apartment/office suite with private entry and huge storeroom.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2016/10/03/10%20Perry%20Street.jpg" alt="">
It comprises of four double bedrooms, living and dining zones, well-equipped kitchens and two bathrooms plus large laundry as well as polished timber floors, ample storage, heating and cooling.
It is offered through Nelson Alexander agents Rick Daniel and Duncan McPherson.
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Former Collingwood factory conversion for sale

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The Swansea Hotel in NSW’s Lake Macquarie region has sold for around $13 million to Laundy Hotels – the largest private hotel owner in the country.
The Swansea Hotel is located at the gateway to Lake Macquarie.
It is situated on a large 3,235sqm site, two hours from Sydney and 30 minutes from Newcastle.
<img src="/images/2016/10/05/Laundy.jpg" alt="" width="512" height="243">
The hotel was fully renovated in 2015 (image above before its renovation).
It was sold through CBRE with 30 poker machines by the Bernie family.
The Laundy's are the largest private hotel owner in the country and own venues such as the Watsons Bay Hotel and the Woolwich Pier Hotel.
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Swansea Hotel sold to the Laundys

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The number of Australian residential property sale listings rose in all capital cities during the month of September 2016, with the Spring selling season attracting vendors into the market, according to SQM Research.
The number of national residential property listings rose 4.3%, with September recording 347,358 new listings, a rise of 2.4% from a year earlier. Sydney led the gains, with a 10.3% jump in monthly listings.
<a href="/images/2016/10/04/SQM%201.png" target="_blank">Click to enlarge</a>
 <img src="/images/2016/10/04/SQM%201.png" width="650" height="204">
Notably, Sydney property listings have jumped 13.2% from one year ago, reflecting the buoyancy of the property market there and the eagerness of vendors to take advantage of impressive capital gains in that city.
Elsewhere, Brisbane recorded a strong monthly gain of 7.4%, with listings up an impressive 12% from a year earlier. Other cities reporting a big boost in monthly property listings were Canberra, with a 6.5% rise, followed by a 5.1% rise in property listings in Melbourne. Even in Perth, where house prices are falling, monthly listings were up 4.7%, and they are up a healthy 9.6% from a year earlier. Only Hobart listings are down from a year earlier, one of the reasons for strong price rises in the city. Adelaide and Darwin listings posted modest growth.
Asking prices
Sydney and Melbourne property markets are still the strongest in the nation, with high auction clearance rates reflecting strong demand for property in both cities, with buyers still putting up their hands to bid despite high prices.
As can be seen from the table below, asking prices for property have jumped in Melbourne, following on from strong price gains in Sydney, where the insatiable appetite for property is being led by record low interest rates and strong population growth in both cities, especially in Melbourne.
Leading the way, year-on-year results reveal Melbourne median asking prices have jumped 15.1% for houses and 4.8% for units compared to this time last year. Hobart has also recorded yearly changes, with median asking prices for units climbing 25% from a year earlier and unit prices up 6.1%.
<a href="/images/2016/10/04/SQM%202.png" target="_blank">Click to enlarge</a>
<img src="/images/2016/10/04/SQM%202.png" width="650">
Meanwhile, median asking prices for houses in both Darwin and Perth continue to fall. According to SQM Research, the median asking price for a house in Perth is $683,200, 5% lower than this time last year and in Darwin it is $619,700, 6.9% lower.
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Property listings rise in September: SQM Research

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A Blue Fig, Darwin unit (below) has become a burden to its owner.
"It's been on the market since August 2015 and still hasn't sold," SQM's Louis Christopher said.
"The price has just come down again to $430,000 as the vendor reassess their expectations in a city that has been trampled on by the mining downturn.
"Investors might be reluctant to buy a unit in an area where the vacancy rate has been climbing since 2012 and is now around 3.3%," he suggests.
<a href="/images/2016/10/04/Unit.png" target="_blank">Click to enlarge </a>
<img src="/images/2016/10/04/Unit.png" alt="">
Reflecting that, the asking rent for a two bedroom unit in the 0810 postcode has fallen almost 20% in the three years to be around $375 a week now.
"Who knows when that decline in rents will stop?
"Only a brave buyer perhaps would put a date on it.
"As for asking prices for units, those too have been trending downwards in the 0810 postcode," Christopher said.
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Darwin unit slashed to possibly get it sold: SQM Research

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Melbourne property developer Goldfields has unveiled its newest boutique luxury apartment project, 525 High Street in Prahran East.
Containing 46 residences, it was designed by JCB Architects and interior designers, Hecker Guthrie.
Situated between Toorak and Armadale, the 7-storey building comprises 44 spacious one, two and three-bedroom apartments and two Townhouses, highlighted by marble and timber accents, aged iron tapware, designer hardware and Miele appliances.
<img src="/images/2016/10/04/image003.png" alt="">
There are city views.
Its ground floor retail space is earmarked for a stylish brasserie and independent organic grocer.
Goldfields’ Lachlan Thompson, says 525 High Street features luxuries generally found in traditional homes, including an entry hall, butler’s pantry, traditional fireplace and even a designated bar.
They are listed through Marshall White Projects’ director, Leonard Teplin.
<img src="/images/2016/10/04/VIEW_03_LR.JPG" alt="">
All residences have a car park space - some have two or more spaces - with many also including a study area, laundry room, bar, and additional storage.
525 High Street offers two bedroom apartments priced from $689,500 and townhouses from $740,000.
The penthouse occupying the entire top floor and featuring direct lift access and three secure basement car spaces is priced at $3,200,000.
Construction is scheduled to commence early 2017 and completed towards the end of the second quarter of 2018.
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Goldfields unveils apartment project, 525 High Street

Avant Townhomes is adding to Ivanhoe’s family-sized housing options with <a href="https://www.apartments.com.au/new-townhouses/three-82-ivanhoe-382-upper-heidelberg-road-ivanhoe-vic-3079">Three 82</a>, a collection of just 16 four-bedroom townhomes on Upper Heidelberg Road.

The <a href="https://www.apartments.com.au/developers/intrapac-property">Intrapac Property</a> townhome division has taken a contemporary approach to the traditional family home, pairing larger floorplans with the lower-maintenance format of a townhouse.

[smartcode_project:default project_id=152069 project_image_fid=374394]

Designed by <a href="https://www.apartments.com.au/architects/arcadia-studio">Arcadia</a>, with landscaping by Landsite, the homes feature generous open-plan living and dining areas that connect directly to outdoor spaces, with layouts also designed to maximise natural light and privacy.

Natural stone is used throughout the interiors, including in kitchens that pair stone surfaces with bespoke cabinetry, considered storage and SMEG appliances.

The four-bedroom layouts include built-in wardrobes and a main bedroom with its own ensuite, while family bathrooms service the additional bedrooms. Each home also includes a lock-up double garage and intercom entry.

[smartcode_project:default project_id=152069 project_image_fid=374399]

Energy efficiency has been incorporated into the design through solar panels, double glazing and reverse-cycle heating and cooling, with the homes targeting 7-star energy ratings.

Rather than incorporating extensive communal facilities, Three 82 has been conceived around private residential amenity, with the 16-home scale keeping the focus on individual homes and their own indoor and outdoor spaces.

The development is located at 382 Upper Heidelberg Road, around one kilometre from Ivanhoe Village's cafés and retail and a short drive from Eaglemont Station and Ivanhoe Station.

[smartcode_project:default project_id=152069 project_image_fid=374393]

Several of Ivanhoe's established schools are also nearby, including Ivanhoe Girls' Grammar and Ivanhoe Grammar School. The address also provides access to the suburb's parklands and the wider Yarra River corridor.

<a href="https://www.apartments.com.au/project-marketer/nelson-alexander">Nelson Alexander</a> has been appointed to handle sales.

Construction is underway and progressing well, with Three 82 currently tracking toward completion in Q2 2027.

[smartcode_project_cta:default project_id=152069]

Joel Robinson

Three 82 brings boutique four-bedroom townhome collection to Ivanhoe

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.

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.

Staff reporter

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