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Eight properties in Canberra belonging to betting company Tabcorp have sold at auction for a total value of $6,171,500.
The selling agents were JLL’s Michael Heather and Greg Lyons and the auction was on November 26.
Three properties were offered with a new initial seven-year lease term to Tabcorp with 2 x 5 year options. The
remaining five properties were sold as vacant possession.
The three leased properties were sold for a price range of $800,000 to $1,120,000 and reflected initial yields of between 4.71% - 5.29%.
The five vacant properties were sold for a price range of $590,000 to $741,500 and reflected sales values from $5,224 - $7,234 per square metre.
“The strong yields achieved for the leased properties exceeded market expectations and is reflective of the yield compression trend that has been experienced in other markets around Australia,” Heather said.
The eight properties were:
20 Brierly Street, Weston sold for $1,120,000. The initial yield reflects 4.78% on a passing net income of $53,491 per annum.
30 Denigan Street, Wanniassa sold for $950,000. The initial yield reflects 5.29% on a passing net income of $50,252 per annum.
99-103 Georgina Crescent, Kaleen sold for $800,000. The initial yield reflects 4.71% on a passing net income of $37,677 per annum.
56 Hawker Place, Hawker sold for $670,000, reflecting a capital value of $5,781 per square metre.
1-3 Primmer Court, Kambah sold for $741,500, a capital value of $7,234 per square metre.
23 Charnwood Place, Charnwood sold for $600,000, or a sales value of $5,545 per square metre.
55 Curtin Place, Curtin sold for $700,000, or a sales value of $5,224 per square metre.
71 Mawson Place, Mawson sold for $590,000, with a capital value of $6,556 per square metre.
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j.ballantyne1990-6AQqhLzZaK

Eight Canberra Tabcorp properties sell at JLL auction for $6,171,500 total 

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A self-managed super fund (SMSF) has bought an industrial property in Victoria's Sunshine West for $2.72 million for a yield of 7.7%. 
The <a href="https://www.realcommercial.com.au/property-industrial+warehouse-vic-sunshine+west-501221303" target="_blank">570-572 Somerville Road</a> property was sold subject to a new four-year lease to Schenck Process Pty Ltd, at a current rental of $215,000 per annum net.
Schenck Process is a multinational company that makes equipment for industrial weighing, feeding, measuring, conveying, filtration and automation.
The sale was brokered by Savills Australia industrial directors Chris Jones and Ben Hegerty with Brigitte Bennett.
The property comprises a 2,451 square metre facility, including a refurbished 379 square metre office and a 2,072 square metre, high clearance, warehouse with a loading canopy.
The 0.44 hectare site includes a frontage to Somerville Road.
Jones said the securely let property with its new four-year lease, strong annual review mechanism and modern versatile improvements was an ideal SMSF opportunity.
"This property provided the sort of security and peace of mind that goes with a well-tenanted, well-located and relatively maintenance free property, a package likely to deliver sound growth prospects and that’s just what you want to put into your super fund,’’ Jones said.
The vendor was a Melbourne-based private investor.
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Super fund buys industrial property in Victoria's Sunshine West

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A growing number of interstate syndicates, funds and private investors are lining up to buy Melbourne’s industrial property assets spurred by Victoria’s leading growth status and the lack of comparable prime investment opportunities in rival capitals, according to Savills.
Enquiries from interstate buyers is at their highest post-GFC, accounting for 30 to 50% of all enquiries for individual properties in the sub $20 million market, say Savills divisional director(s), investments, Chris Jones and Ben Hegerty.
"We have sold 17 properties in this category since March and eight of those have sold to interstate buyers from WA, SA, Queensland and New South Wales, for more than $150 million," Jones said. 
He said a lack of comparable investment stock at home, particularly in Sydney and Perth, had been the critical factor, while attractive long-term capital growth and rental prospects, Melbourne’s reputation as Australia’s leading industrial city, and Victoria’s nation-leading population growth and economic performance, provided a very positive future market assessment.
"Victoria has long held the title of Australia’s most attractive industrial destination based on the availability of relatively cheap and easily serviceable land, its superior freeway network and port facilities movements.
"More recently a dearth of quality investment properties in interstate markets, particularly Perth and Sydney, and the ability to acquire assets with high underlying land values, and in many instances higher and better future uses, have swung the investment spotlight firmly towards Melbourne,’’ he said.
Hegerty said several of the deals had been off-market, underscoring the demand for Victorian assets. A majority were investor driven, he added.
In the latest off-market deal, Adelaide-based commercial property syndicator, Harmony Property Syndication, paid $10.75 million on a yield of 7.1% for an industrial property at Hallam.
The 1-5 Siddons Way property, a 9,574 square metre office and warehouse facility on a 15,300 square metre allotment, was sold subject to a long-term lease till 2026 to national tenant Pakcentre Marketing Services.
The current rental is $765,920 per annum net.
Hegerty said latest ABS data revealing annual economic growth (gross state product) in Victoria had bounced back to 2.5%, stronger than NSW and Queensland and all other states bar NT and WA, should provide investors with further confidence that Victoria was a sound investment destination.
One of the key aspects to the GSP turnaround has been population. Victoria had the fastest national growth rate of all capitals in the year to March of 1.7% and has led the national average since 2013, ABS data showed.
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Melbourne industrial a hit with interstate investors: Savills  

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The Supreme Court of NSW has handed down final orders against Park Trent Properties Group Pty Ltd (Park Trent), further to its judgment against it on October 15, 2015.
The court made the following orders against Park Trent:
<ul>
<li>declarations that Park Trent had unlawfully carried on an unlicensed financial services business for over 5 years by providing advice to clients to purchase investment properties through a self-managed super fund (SMSF); and</li>
<li>a permanent injunction against Park Trent restraining them from providing unlicensed financial product advice to clients regarding SMSF's.</li>
</ul>
Park Trent has also been asked to post a notice on its website outlining the orders against it.
In his judgment, his Honour Acting Justice Sackville said that 'the publication of a notice on its website appropriately recognises the seriousness of Park Trent's contravention and the public interest in bringing Park Trent's conduct to the attention of the community'. 
"This outcome sends a strong message, that there are serious consequences for property spruikers who break the law by providing unlicensed financial advice," said Greg Tanzer, commissioner of the Australian Securities and Investments Commission.
ASIC had launched legal proceedings in November 2014 against Park Trent who, by the time of the trial in June 2015 had advised over 860 members of the public to establish and switch funds into an SMSF.
On 15 October, the court found that Park Trent, from March 2010 to June 2015, breached the Corporations Act by providing financial product advice without holding a proper licence or authority. This advice related to setting up self-managed super funds for investing in property.
The ASIC website advises clients of Park Trent about getting financial or legal advice about their investment decisions on superannuation. 
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ASIC obtains final orders against Park Trent

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The fall in prices in Australia's housing market continued to impact yields too, with Sydney overtaking Melbourne for the lowest yield profile across the capital city unit markets, according to the CoreLogic RP Data November Home Value Index. 
The 1.5% decline in capital city dwelling prices in November, coupled with a 0.% rise in weekly rents, has overall improved the average gross yield over the month. This follows a trend towards lower rental yields which started in May 2013.
Gross yields remain close to record lows for houses in Melbourne at an average of 3%, while Sydney recorded an average gross rental yield of 4.1% for apartments.
Yields have shown a consistent downwards trend towards lower returns for new investors.
The average gross rental yield for capital city houses was down to a record low of 3.4% in October, while for a capital city unit it was 4.3%for the same month. 
 
<a href="/images/2015/12/1/Screen%20Shot%202015-12-01%20at%201.08.51%20PM.png" target="_blank">Click to enlarge</a>
<img src="/images/2015/12/1/Screen%20Shot%202015-12-01%20at%201.08.51%20PM.png" alt="">
Housing market conditions for Sydney and Melbourne started slowing earlier in the year and the trend continued throughout November, said CoreLogic RP Data head of research Tim Lawless. While Melbourne saw the sharpest drop, Sydney values were down 1.4 per cent. Hobart dwelling values dropped by 2.4 per cent, Darwin values were down 1.3 percent and they moved 0.5 percent lower in Canberra.
Overall, the combined capitals housing index has seen dwelling values drop by 1.5 percent over November, taking the rolling quarterly rate of change to -0.5 per cent
Values rose in the remaining three capital cities, with Adelaide showing the highest month-on-month growth rate (0.7 per cent), followed by Brisbane (0.6 per cent) and Perth (0.3 per cent).
“The latest results are now placing downwards pressure on the annual change in dwelling values. The annual rate of growth across the combined capitals index peaked at 11.5 per cent back in April 2014, and has since reduced to 8.7 per cent,” Lawless said.
Sydney maintained the highest annual growth rate at 12.8 per cent, which is down from a peak rate of annual growth of 18.4 per cent in July earlier this year, while Melbourne’s annual growth rate has reduced from a recent peak of 14.2 per cent to 11.8 per cent over the 12 months ending November this year.
The only capital cities where values have declined over the past year are Darwin (-4.2 per cent) and Perth (-4.1 per cent), where weaker economic conditions and a slowdown in population growth contributed to an early peak in housing market conditions in December last year.
The equivalent peak in the cycle for Darwin was May 2014. Since that time, Perth values are down a cumulative 5.9 per cent and Darwin values have fallen by a larger 6.8 per cent.
“The fact that mortgage rates have risen independently of the cash rate has, in all likelihood, become a contributor to the slowdown in housing market conditions, as well as tighter lending practices evidenced by a recent reduction in lender risk appetite for investment loans and high loan to valuation ratio mortgages," Lawless said.
"Tighter mortgage servicing criteria across the board and affordability constraints in the Sydney and Melbourne markets are also having an impact on market demand.” 
As a consequence of the tighter lending environment for investors, as well as gross rental yields being at near record lows, participation in the housing market from investors has reduced from 54.1 per cent of all new mortgages in May 2015 to 45.4 per cent at the end of September, which is the lowest level since July 2013.
Data released by APRA at the end of last month showed the pace of investment related housing credit growth fell below the APRA 10 per cent speed limit for the first time since September last year, with the monthly change in investment credit growth the lowest since October 2011.
According to November’s results, the slowdown comes after auction clearance rates have moderated back to the low 60 per cent range since the last week of October, whilst average selling time and vendor discounting rates also continue to rise from their record lows.
“Slower housing market conditions will likely be a topic of conversation when the Reserve Bank board meets today to deliberate on the cash rate setting. A less buoyant housing market is likely to provide the Reserve Bank with a greater degree of flexibility in adjusting interest rates without as much risk of overstimulating the housing market,” Lawless said.
“While the Reserve Bank is likely to welcome a slowdown in the rate of home value appreciation, the overriding objective would be to avoid a significant downturn in the housing market, which would act as a weight on economic growth and potentially impact financial system stability.”
“With the housing market moving through the peak of the cycle at a time when there is a large number of new dwellings commencing construction, there is likely to be a heightened level of settlement risk for off the plan purchases.”
“Those purchasers who have recently purchased off-the-plan may face challenges at the time of settlement if the valuation of the property is lower than the contracted price, or if mortgage finance is less freely available, or on more expensive terms. This would imply that some buyers may have a higher loan to valuation ratio than anticipated, which could require additional funds to bring the LVR down to a level the lender is comfortable with.”
“As a result of slowing housing market conditions, an additional risk for policymakers is a where a large number of dwellings approved for construction are postponed or withdrawn as developers face fewer pre-sales or lose confidence in their ability to deliver a profitable project to market,” he said.
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Sydney rental yields for units lowest among capitals: CoreLogic RP data

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Geoff Summerhayes has been appointed a member of the Australian Prudential Regulation Authority (APRA) by the Treasurer for a term of five years from January 1.
Summerhayes was most recently the chief executive officer of Suncorp Life, a role he has held since 2008. Prior to joining Suncorp, he spent more than 20 years with property and financial services organisations like Lend Lease, MLC and NAB.
In his new role, Summerhayes will focus on APRA’s activities in relation to general, life and private health insurance.
The Treasurer also appointed Helen Rowell, an APRA member since July 2013, as the regulator's deputy chair for the remainder of her five-year term. Rowell will continue to have primary responsibility within APRA for all superannuation-related matters.
"Geoff will bring a great deal of commercial acumen and experience to the position of APRA Member. I look forward to working with Helen and Geoff to ensure APRA continues to perform its responsibilities effectively and efficiently, for the benefit of the Australian community," said APRA chairman Wayne Byres.
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Geoff Summerhayes appointed new APRA member, Helen Rowell to deputy chair

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Dwelling values fell across five of the eight capital cities in Australia in November, with Melbourne surprising with a 3.5% drop, according to the CoreLogic RP Data November Home Value Index. 
Housing market conditions for Sydney and Melbourne started slowing earlier in the year and the trend continued throughout November, said CoreLogic RP Data head of research Tim Lawless who said he was surprised by some of the monthly results.
<a href="/images/2015/12/1/Screen%20Shot%202015-12-01%20at%2012.04.53%20PM.png" target="_blank">Click to enlarge</a>
<img src="/images/2015/12/1/Screen%20Shot%202015-12-01%20at%2012.04.53%20PM.png" alt="">
<div>“I wasn’t expecting a drop as significant of what we saw in Melbourne, down 3.5%,’’ he said.</div>
While Melbourne saw the sharpest drop, Sydney values were down 1.4%. Hobart dwelling values dropped by 2.4%, Darwin values were down 1.3% and they moved 0.5% lower in Canberra.
Overall, the combined capitals housing index has seen dwelling values drop by 1.5% over November, taking the rolling quarterly rate of change to -0.5%.
Values rose in the remaining three capital cities, with Adelaide showing the highest month-on-month growth rate (0.7%), followed by Brisbane (0.6%) and Perth (0.3%).
“The latest results are now placing downwards pressure on the annual change in dwelling values. The annual rate of growth across the combined capitals index peaked at 11.5% back in April 2014, and has since reduced to 8.7%,” Lawless said.
Sydney maintained the highest annual growth rate at 12.8%, which is down from a peak rate of annual growth of 18.4%in July earlier this year, while Melbourne’s annual growth rate has reduced from a recent peak of 14.2% to 11.8% over the 12 months ending November this year.
The only capital cities where values have declined over the past year are Darwin (-4.2%) and Perth (-4.1%), where weaker economic conditions and a slowdown in population growth contributed to an early peak in housing market conditions in December last year.
The equivalent peak in the cycle for Darwin was May 2014. Since that time, Perth values are down a cumulative 5.9% and Darwin values have fallen by a larger 6.8%.
“The fact that mortgage rates have risen independently of the cash rate has, in all likelihood, become a contributor to the slowdown in housing market conditions, as well as tighter lending practices evidenced by a recent reduction in lender risk appetite for investment loans and high loan to valuation ratio mortgages," Lawless said.
"Tighter mortgage servicing criteria across the board and affordability constraints in the Sydney and Melbourne markets are also having an impact on market demand.” 
As a consequence of the tighter lending environment for investors, as well as gross rental yields being at near record lows, participation in the housing market from investors has reduced from 54.1% of all new mortgages in May 2015 to 45.4% at the end of September, which is the lowest level since July 2013.
Click to enlarge
<img src="/images/2015/12/1/Screen%20Shot%202015-12-01%20at%2012.06.33%20PM.png" alt="" width="718" height="683">
Data released by APRA at the end of last month showed the pace of investment related housing credit growth fell below the APRA 10% speed limit for the first time since September last year, with the monthly change in investment credit growth the lowest since October 2011.
According to November’s results, the slowdown comes after auction clearance rates have moderated back to the low 60% range since the last week of October, whilst average selling time and vendor discounting rates also continue to rise from their record lows.
The 1.5% decline in capital city dwelling values over the month, coupled with a 0.3% rise in weekly rents, has seen the average gross yield record a subtle improvement over the month. This follows a trend towards lower rental yields which commenced in May 2013. Gross yields remain close to record lows for houses in Melbourne at an average of 3.0%, while Sydney has overtaken Melbourne to show the lowest yield profile across the capital city unit markets, with an average gross rental yield of 4.1%.
“Slower housing market conditions will likely be a topic of conversation when the Reserve Bank board meets today to deliberate on the cash rate setting. A less buoyant housing market is likely to provide the Reserve Bank with a greater degree of flexibility in adjusting interest rates without as much risk of overstimulating the housing market,” Lawless said.
“While the Reserve Bank is likely to welcome a slowdown in the rate of home value appreciation, the overriding objective would be to avoid a significant downturn in the housing market, which would act as a weight on economic growth and potentially impact financial system stability.”
“With the housing market moving through the peak of the cycle at a time when there is a large number of new dwellings commencing construction, there is likely to be a heightened level of settlement risk for off the plan purchases.”
“Those purchasers who have recently purchased off-the-plan may face challenges at the time of settlement if the valuation of the property is lower than the contracted price, or if mortgage finance is less freely available, or on more expensive terms. This would imply that some buyers may have a higher loan to valuation ratio than anticipated, which could require additional funds to bring the LVR down to a level the lender is comfortable with.”
“As a result of slowing housing market conditions, an additional risk for policymakers is a where a large number of dwellings approved for construction are postponed or withdrawn as developers face fewer pre-sales or lose confidence in their ability to deliver a profitable project to market,” he said.
<a href="/images/2015/12/1/Screen%20Shot%202015-12-01%20at%2012.07.58%20PM.png" target="_blank">Click to enlarge</a><img src="/images/2015/12/1/Screen%20Shot%202015-12-01%20at%2012.07.58%20PM.png" alt="" style="line-height: 1.3em;"> 
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Home values fall in Sydney, Melbourne as housing market moves through peak of cycle: CoreLogic RP Data 

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The Nylex clock that has stood watch since the 1960s over inner east Richmond, Cremorne and South Yarra will be restored to working order as the centrepiece of an ambitious new residential, commercial and tourism destination for Melbourne.
Caydon has lodged applications for development at the former maltings site in Cremorne, which is bordered by Gough Street, Cremorne Street and Harcourt Parade.
Caydon has owned the Harcourt Parade parcel of the site since 2008 and acquired the remaining Gough Street parcel last year.
The 1.4 hectare precinct will be known as the Malt District in a nod to its former use as a storage facility for malt used in brewing beer, and as the historical home of the old Cremorne Brewery.
Caydon has been working with architects Fender Katsalidis and landscape designers Oculus to re-activate its past.
This has included consultations with heritage experts Lovell Chen, City of Yarra planning officials, Parks Victoria and other key stakeholders, to achieve a development outcome that unlocks the site’s potential whilst respecting its past including restoring the Nylex clock.
The Nylex Clock was built by Neon Electric Signs in 1961 for Nylex Plastics Ltd and is a much-loved Melbourne icon. Above the sign is an LED clock that shows the time and temperature.
“This project is about so much more than building somewhere for people to live," said Caydon principal Joe Russo. 
"It’s about creating a vibrant destination where small businesses can make a start, artisans can display their craft, and where local and international tourists can visit for a drink or a meal."
Joe Russo is the passionate Richmond supporter to have controversially nominated for the board at this year’s annual general meeting.
"While I am regularly told that we are on the cusp of achieving the ultimate success – an AFL Premiership, the scoreboard does not lie.
"We haven’t won a final since 2001 or a flag in 35 long years.
"I am standing as a candidate because I want my kids and all Richmond members to experience what I did in 1980.
"I was at the MCG that day with my father – also a devoted Richmond man.
"I can still remember the sheer ecstasy of winning.
"Since 1980, three generations of Richmond supporters have been left disappointed, deprived of success year after year. I can no longer sit by and watch the team I love continue to show incremental improvement without realising our pursuit of sustained premiership success.
"Until now, I have kept a low profile in my private life and business interests, including my support of the RFC.
"I have been a significant contributor to the Fighting Tiger Fund under the condition that the VFL development team be bought into competition a year earlier than anticipated.
He told members in his application that Caydon Property Group was Melbourne’s largest apartment developer.
"From humble beginnings, developing townhouses in the outer northern suburb of Thomastown, my company now employs over 60 staff.
"I have completed over $1 Billion in developments to date, with a further 4,500 apartments in our pipeline worth in excess of $2 billion.
"This includes the famous Nylex site in Cremorne that will be Melbourne’s new inspired destination at the Punt Road end. 
<a href="/expert-insights/buying/leaps-and-bounds-as-caydon-buys-the-richmond-malt-complete-with-nylex-clock">The project</a> is expected to cost around $1 billion, with plans for up to a 1,000 apartments and serviced apartments. There will be parking for 1,000 cars.
There will be 6,000 square metres of retail and commercial space including bars, restaurants and other entertainment venues with Oculus founding partner Bob Earl, the project’s landscape designer.
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Nylex clock to star in Melbourne's new 'Malt District'

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Chatswood Place, a $300 million new boutique mixed use development by Platino Properties, was launched on Frday.
At the launch, 106 out of 111 apartments sold for a total of $160 million.
Located at 260 Victoria Avenue, the development will comprise 223 apartments over five buildings, released in two stages.
Units range from studios to four-bedroom penthouses.
Construction is expected to begin in February 2016 with completion proposed by late 2018.
Only six buyers were from overseas.
Almost 65% were buying to live in the new apartments. 
Most were existing Chatswood residents wanting to upgrade. 
A record sale was also made with two apartments purchased by the same buyer for $8.1 million - something never before seen in Chatswood.
“The strong demand for Chatswood Place is indicative of home owners’ increasing preference to live in apartments that are a stone’s throw from the shops, cafes and restaurants they frequent," said Platino developer Jonathan Leib. 
The development comes with shops, dining precinct and community facilities such as childcare services.
Communal spaces include an outdoor pool, gymnasium, BBQ area and sheltered pavilion for entertaining al fresco. Residents-only gardens flow through and above the buildings.
Three colour schemes (Latte, Espresso and Affogatto) were offered by Platino Properties, who has been designing and developing residential apartments on Sydney’s North Shore for over 35 years. 
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Chatswood Place launches; 106 units sold for $160 million

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Apartments in inner-city Brisbane continue to attract significant investor interest.
Local buyer interest in the south-east Queensland property market remains strong, according to Raine &amp; Horne.
The latest data from realestate.com.au shows the median apartment price in the Brisbane LGA was $495,000, as steady growth continues throughout the southeast corner of the state.
“It’s long been talked about that the stream of apartments coming into the Brisbane market would result in a situation of oversupply, but from what we’re seeing, this isn’t the case,” said Steve Worrad, general manager, Raine &amp; Horne Queensland.
“In fact, the smart money from both local buyers and interstate investors is snapping up quality apartments within a few kilometres of the Brisbane CBD.”
The Real Estate Institute of Queensland (REIQ) reports that Brisbane has a current apartment rental vacancy rate of around 3.3 percent, citing continuing strong interest from investors and owner-occupiers for new apartments.
The agency has an apartment at 8125/191 Constance Street, Bowen Hills (artist's impression) up for resale off the plan for <a href="https://www.realestate.com.au/property-unit-qld-bowen+hills-121292350">December 15 auction</a>.
8125/191 Constance Street is located in the architecturally-designed, The Tower on the Green, listed through agent Robyn Thomas of Raine &amp; Horne Ascot who says the apartment will be ready for occupation in January 2016.
 
 
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Brisbane apartments still a hot prospect, says Raine & Horne

ASX-listed developer <a href="https://www.apartments.com.au/developers/stockland">Stockland</a>&nbsp;is continuing its push back into the new apartment market, filing plans for a prominent gateway site between Collingwood and East Melbourne.

The development giant, which moved back into the new apartment space when it announced Stanton Place in Sydney's Rosebery and have since filed plans for a 50-storey tower, are jumping into the off the plan Melbourne market.

They are hoping to create a mixed-use neighbourhood precinct for <a href="https://www.apartments.com.au/new-apartments/79-81-victoria-parade-collingwood-vic-3066">79-81 Victoria Parade</a>, replacing an existing commercial building with a scheme by <a href="https://www.apartments.com.au/architects/john-wardle-architects">Wardle</a>&nbsp;for 478 apartments,&nbsp;ground-floor retail, new public open spaces and a publicly accessible pedestrian laneway.

<img alt="First look: Stockland plans new mixed-use neighbourhood precinct for Collingwood gateway site" data-entity-type="file" data-entity-uuid="72dbbca9-3918-4073-afad-a0c0c35be8e7" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/stockland%20pers.png?VersionId=bzMVUKKxvwuNK1m0v_td126Rgct32uk_" />

The design report identifies the public realm as a central driver of the proposal.

"Collingwood has limited access to high-quality parks and public open space, and the proposal delivers valuable new areas for respite, social interaction and fine-grain retail activity."

The development would deliver a diverse mix of housing, including studio, one, two and three-bedroom apartments alongside townhouse-style residences. Two basement levels are proposed beneath the development, providing resident and retail parking as well as extensive bicycle facilities.

Wardle's design draws heavily on Collingwood's industrial character, using articulated building forms, brickwork and robust materials inspired by the suburb's warehouse and manufacturing heritage. The built form has been broken into a series of smaller volumes to better respond to the surrounding streetscape while extensive communal gardens, rooftop amenities and shared resident spaces are integrated throughout the project.

<img alt="First look: Stockland plans new mixed-use neighbourhood precinct for Collingwood gateway site" data-entity-type="file" data-entity-uuid="7b2135ed-65df-4253-ad53-f216f06bd467" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/stockland%20podium.png?VersionId=l1B6Hqn8zs772VxH6L1fDPg0KHshan9v" />

The planning documents describe the existing office building as offering little engagement with the public realm, with the redevelopment intended to create a more permeable and active neighbourhood destination.

"The proposed scheme presents a significant opportunity to deliver a vibrant retail plaza and a local neighbourhood hub serving both existing and future Collingwood residents."

The 79–81 Victoria Parade site occupies a strategic location about 1.5 kilometres east of Melbourne's CBD, at the threshold between Collingwood and East Melbourne. It is well served by tram services along Victoria Parade and sits within walking distance of St Vincent's Hospital, Fitzroy Gardens, the Fitzroy activity centre and a broad range of employment, retail and hospitality destinations.

Joel Robinson

Stockland plans new mixed-use neighbourhood precinct for Collingwood gateway site

An 1880s timber cottage that has survived Kangaroo Point's transformation from riverside suburb to high-density apartment precinct is set to become the centrepiece of <a href="https://www.apartments.com.au/developers/zephyr">Zephyr Group</a>'s proposed Banksia development.

Rather than see the locally heritage-listed Alpha Cottage as an obstacle to navigate, plans integrate the landmark home into a new 18-storey residential tower, giving one of the suburb's oldest surviving residences a new role as the project's communal hub.

The development application covers a 1,177 sqm amalgamated site at 127-133 Lambert Street and 30 Shafston Avenue, where Zephyr Group plans to deliver 64 apartments above three basement levels. Designed by <a href="https://www.apartments.com.au/architects/joe-adsett-architects">Joe Adsett Architects</a>, the proposal carefully weaves the retained heritage cottage into a contemporary residential scheme, with the tower elevated above the historic building to preserve its presence within the Lambert Street streetscape.

<img alt="First look: Zephyr Group's Banksia to wrap new Kangaroo Point tower around 1880s Alpha Cottage" data-entity-type="file" data-entity-uuid="f9dc5bdb-d691-4c60-bf2b-c3ed405a3e75" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Banksia.png?VersionId=Jh4bjlewU.o8HXWt0V4KaFA_lPcF7KWM" />

Named after the native Australian Banksia flower, the project draws inspiration from its distinctive form through curved balconies, sculpted planter boxes and cascading subtropical landscaping that soften the building's profile.

As the design report explains: "The tower's identity is defined by its feature facade, drawing direct inspiration from the Banksia wildflower. The building departs from traditional rigidity through the use of elegant, GRC-moulded planter boxes that appear as if shaped by the breeze."

Plans propose 64 apartments, comprising 32 two-bedroom and 32 three-bedroom residences, across an 18-storey tower. Residents would have access to rooftop amenities including a swimming pool, spa, gym, sauna, private cinema, dining spaces and landscaped recreation areas, while more than half the site is dedicated to planting and open space.

<img alt="First look: Zephyr Group's Banksia to wrap new Kangaroo Point tower around 1880s Alpha Cottage" data-entity-type="file" data-entity-uuid="16041b5f-033e-47fa-8fbe-9886e072c1f2" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/pool.png?VersionId=kpx5w4EbLx0_TdWfDoD1vrSs0_cZ5Ao1" />

The heritage component is the defining feature of the proposal. Constructed in the early 1880s and occupied from at least 1883, Alpha Cottage is recognised by Brisbane City Council as an important surviving example of Kangaroo Point's nineteenth-century residential development and as a representative transverse-gable timber cottage. Despite extensive redevelopment across the peninsula, the building has retained a high degree of its original form and internal fabric.

As part of the redevelopment, the cottage will be carefully relocated a short distance within its original allotment to facilitate construction before being returned to a prominent position along Lambert Street. Original verandah elements will be dismantled, catalogued and reinstated, while significant internal features, including timber flooring, wall linings, joinery, doors, windows and hardware, will be retained. Later additions, including the enclosed rear verandah, will be removed to better reveal the building's original form.

Once restored, Alpha Cottage will accommodate the building manager's office, mail room and parcel facilities, providing an active everyday use that supports its long-term conservation rather than preserving it as a static display. The heritage strategy also maintains landscaped space around the building, allowing it to remain visually distinct beneath the new tower.

<img alt="First look: Zephyr Group's Banksia to wrap new Kangaroo Point tower around 1880s Alpha Cottage" data-entity-type="file" data-entity-uuid="43b027e1-576e-4624-a66c-7cc54ea8b7be" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/banksia%20tower.png?VersionId=2W6E2yfkj2AQlWlLeV986grA5zB9f817" />

The Heritage Impact Assessment concludes that "the proposal secures the ongoing occupation, maintenance and conservation of Alpha Cottage," finding the development would result in "no more than a minor impact on the cultural heritage significance" of the building while ensuring its long-term future.

Joe Adsett Architects have designed the tower to sit above the heritage building rather than overwhelm it, creating a clear visual separation between old and new. The development's flowing balconies, integrated planting and organic façade respond to Brisbane's subtropical climate while complementing the restored cottage below.

Banksia occupies a prominent corner in Kangaroo Point within walking distance of the Kangaroo Point Bridge, Brisbane River, ferry services, QUT, the CBD and the Woolloongabba precinct. The site also benefits from direct access to active transport infrastructure and sits within an area earmarked for continued higher-density residential growth.

Zephyr Group's Banksia to wrap new Kangaroo Point tower around 1880s Alpha Cottage

Buying into a masterplanned community often means committing to a vision still years from taking shape. At <a href="https://www.apartments.com.au/new-apartments/kew-tallawong-23-27-schofields-road-tallawong-nsw-2762">Kew Tallawong</a>, that vision is already visible.

Residents have moved into the completed first stage, landscaped spaces are established, and the next chapter is now underway. Stage 1 has been completed and settled, with Stage 2 now selling off-the-plan.

Designed by <a href="https://www.apartments.com.au/architects/pbd-architects">PBD Architects</a>, <a href="https://www.apartments.com.au/new-apartments/kew-tallawong-23-27-schofields-road-tallawong-nsw-2762">Kew Tallawong</a> combines attainable apartment living with sustainability initiatives rarely seen at this price point, including rooftop solar, battery storage and a resident EV-sharing program.

<iframe allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" allowfullscreen="" frameborder="0" height="315" referrerpolicy="strict-origin-when-cross-origin" src="https://www.youtube.com/embed/6RNt3AvtBpI?si=JUhuCV2ZRXsYaoJZ" title="YouTube video player" width="560"></iframe>

Located on Schofi​elds Road, just moments from Tal​lawong Metro Station and Schof​ields Train Station, <a href="https://www.apartments.com.au/new-apartments/kew-tallawong-23-27-schofields-road-tallawong-nsw-2762">Kew Tallawong</a> has been designed to appeal to a broad mix of buyers, from first-home purchasers looking for a foothold in Sy​dney's property market to downsizers seeking a connected, low-maintenance lifestyle.

<a href="https://www.apartments.com.au/new-apartments/kew-tallawong-23-27-schofields-road-tallawong-nsw-2762">Kew Tallawong</a> has been conceived as a thoughtfully planned masterplanned community that will evolve over multiple stages, with buyers now able to secure one, two and three-bedroom apartments within a neighbourhood that is already beginning to establish its identity.

One of the project's defining features is its focus on sustainability. Solar energy systems, battery storage and future EV charging infrastructure have been incorporated throughout the development, reflecting a long-term approach to both environmental performance and everyday convenience.

Sustainability sits at the centre of the development's vision, with solar energy systems, battery storage and future EV charging infrastructure integrated throughout the community.

That emphasis on future-ready living extends beyond the technology. Landscaped communal gardens, outdoor gathering spaces and plans for a future retail precinct aim to create a neighbourhood where residents can access daily conveniences without travelling far from home.

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The apartments themselves have been designed with liveability front of mind. Rather than chasing maximum density, the focus has been placed on creating practical homes with generous natural light, usable layouts and strong connections to outdoor space.

Importantly, these design principles have been applied consistently across the one, two and three-bedroom apartment offerings.

The appeal of <a href="https://www.apartments.com.au/new-apartments/kew-tallawong-23-27-schofields-road-tallawong-nsw-2762">Kew Tallawong</a> is also closely linked to its location within Syd​ney's rapidly evolving north-west growth corridor. Over the past decade, major infrastructure investment has transformed the area, with new transport links, business precincts and community facilities reshaping suburbs like Talla​wong and Schofiel​ds.

The agent says buyers are increasingly recognising the area's long-term potential.

"Typical buyers that we're finding across <a href="https://www.apartments.com.au/new-apartments/kew-tallawong-23-27-schofields-road-tallawong-nsw-2762">Kew Tallawong</a> especially are your first-home buyers, your investors, your upsizers as well as your downsizers," Hawes says.

Connectivity remains one of the project's strongest drawcards. Residents have access to both Tallaw​ong Metro Station and Schofi​elds Train Station, providing links to the Sydn​ey CBD, Norw​est Business Park, Macquari​e Park and other major employment hubs. Retail centres including Rous​e Hill Town Centre and Sch​ofields Village are also nearby, alongside schools, parks and future healthcare infrastructure.

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For Stage 1 resident Roji, it is the balance between convenience and comfort that has defined the experience of living at Kew.

"For me, it's a balance of quality and convenience," she says. "Everything I need is right here."

"If I wanted to catch the train, Scho​fields Station is just around the corner. Tallaw​ong Metro connects me to the city."

More importantly, she says, the development has delivered something that cannot be measured in floorplans or specifications.

"<a href="https://www.apartments.com.au/new-apartments/kew-tallawong-23-27-schofields-road-tallawong-nsw-2762">Kew Tallawong</a> feels like home."

[smartcode_project:default project_id=149637 project_image_fid=351024]

As Stage 2 enters the market, that lived experience may be one of the project's strongest selling points. Buyers are not purchasing into an untested concept or a future promise. They are joining a community that is already taking shape.

Ongoing investment in transport, retail, healthcare and public open space continues to strengthen the appeal of Syd​ney's north-west growth corridor, while <a href="https://www.apartments.com.au/new-apartments/kew-tallawong-23-27-schofields-road-tallawong-nsw-2762">Kew Tallawong</a>'s established first stage provides buyers with a tangible sense of the community's future direction.

For a limited time, buyer can secure a new home at <a href="https://www.apartments.com.au/new-apartments/kew-tallawong-23-27-schofields-road-tallawong-nsw-2762">Kew Tallawong</a> with just a $10,000.

[smartcode_project_cta:default project_id=149637]

Kew Tallawong: A growing community taking shape in Sydney's north-west

<a href="https://www.apartments.com.au/developers/freecity">Freecity</a> has received development approval for its 51-storey mixed-use tower at 153-157 Walker Street, North Sydney, set to be one of the tallest mixed-use residential-led buildings in one of Sydney’s most sought-after commercial and residential addresses.

Lodged as a State Significant Development Application (SSDA) through the Housing Delivery Authority (HDA) pathway and approved by the NSW Department of Planning, Housing and Infrastructure following a comprehensive public exhibition and submissions process, <a href="https://www.apartments.com.au/new-apartments/153-walker-street-north-sydney-nsw-2060">the project</a> will deliver 296 apartments, alongside a 170-room, luxury hotel, activated retail and significant public domain improvements.

Situated just 200 metres from Victoria Cross Metro Station, on one of the largest developable sites in North Sydney, the development will rise to 234 metres, making it one of the tallest buildings in the suburb. With an end value of approximately $1.5 billion, the project responds directly to the NSW Government’s mandate to accelerate housing delivery in well-located, transit-connected areas.

<img alt="Freecity gets green light for mixed-use residential and hotel tower in North Sydney" data-entity-type="file" data-entity-uuid="192ec455-94bf-4e01-83ef-922b1b269d67" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Freecity%20-%20Walker%20Street%20North%20Sydney%201%20RESIZED%20.jpg?VersionId=Bzqp0SBHCDvLAHjA4QXkjuGoOEIh73Jl" />

The apartment mix will cater to a broad range of buyers, with 65 studio and one-bedroom apartments, 139 two-bedroom residences, 35 three-bedroom apartments, 48 four-bedroom homes, and nine penthouses. Residents will have access to a dedicated amenity level on Level 33, featuring a swimming pool with views towards the Harbour Bridge, Sydney Opera House and North Sydney CBD, as well as a gym, library, shared kitchen, lounge and outdoor entertaining areas.

The hotel will occupy the lower six levels of the building and include meeting and function spaces, a wellness centre with gym, yoga studio, swimming pool and sauna, further strengthening North Sydney's growing hospitality offering.

At ground level, the development has been designed to improve pedestrian connections through the precinct. More than 700 sqm of retail space will activate the street frontage, while a landscaped through-site link connecting Walker Street, Little Walker Street and Doris Fitton Park will provide new public open space with seating, paving and extensive native landscaping.

Freecity Group Co-Founder and Joint CEO Tony Sun said the project represents one of the most significant development opportunities currently available in North Sydney.

"This is one of the most significant development sites in North Sydney and it comes at a pivotal moment for the precinct," Sun said.

"North Sydney is undergoing a genuine transformation, and this project will contribute housing the city urgently needs while creating a landmark destination."

Executive Director of Development Michael Romano said demand for both residential and hotel accommodation would continue to strengthen as the Metro precinct matures.

"The structural demand for high-quality housing and hotel accommodation in North Sydney is compelling, and will only grow as the precinct continues to evolve around the new Metro station," Romano said.

Architectus has designed the tower, orientating the apartments to maximise views towards Sydney Harbour while introducing a sculpted façade intended to respond to light, wind and the surrounding skyline.

Architectus Principal Marko Damic said the design sought to create a tower that contributes to the public realm as much as the skyline.

"We wanted to design a tower that doesn't just sit in the skyline but actively participates and contributes to city life," Damic said.

First look: Freecity gets green light for mixed-use apartment and hotel tower in North Sydney

<a href="https://www.apartments.com.au/developers/abadeen">Abadeen</a> and <a href="https://www.apartments.com.au/developers/perifa">PERIFA</a> have celebrated the topping out of <a href="https://www.apartments.com.au/new-apartments/putney-wharf-harbourfront-precinct-20-waterview-street-putney-nsw-2112">Putney Wharf,</a> marking a significant milestone in the delivery of one of Syd​ney's most anticipated waterfront communities.

Located on Sydney's harbourfront at <a href="https://www.apartments.com.au/developments/putney-nsw-2112">Putney</a>, the project has now reached its highest structural point, with construction progressing strongly towards completion in 2027. 
&nbsp; 
The milestone was celebrated on-site with project partners Phoenix Property Investors, Mitsubishi Estate Asia, Versatile Construction, <a href="https://www.apartments.com.au/architects/sjb-architects">SJB</a>, consultants and stakeholders, to recognise the collective effort behind the transformation of the historic waterfront site into a vibrant new residential, marina and lifestyle destination.

[smartcode_project:default project_id=13962 project_image_fid=362240] 
&nbsp; 
<a href="https://www.apartments.com.au/new-apartments/putney-wharf-harbourfront-precinct-20-waterview-street-putney-nsw-2112">Putney Wharf</a> will deliver a mix of waterfront residences and terraces, complemented by a private 36-berth marina, waterfront dining opportunities and a revitalised foreshore designed to reconnect the community with the river's edge. 
&nbsp; 
Abadeen Executive Chairman and Founder Justin Brown said the project represented a rare opportunity to create the next chapter in Sydn​ey's long history of successful waterfront precincts. 
&nbsp; 
"Throughout Sydney, some of the city's most sought-after addresses have emerged from carefully considered waterfront precincts such as Woolloom​ooloo Wharf, Walsh Bay and Breakfast Point," Brown said.

[smartcode_project:default project_id=13962 project_image_fid=362566] 
&nbsp; 
"What makes these places so successful is that they become much more than residential developments," Brown said.

"They bring together homes, hospitality, marina facilities, public spaces and a strong sense of community in locations where future supply is incredibly limited."

Brown has long described absolute waterfront land in Sy​dney as "finite."

"Once these opportunities are developed, they are rarely replicated. That's why Syd​ney's waterfront precincts have consistently demonstrated strong demand and long-term value growth over many decades. 
&nbsp; 
"<a href="https://www.apartments.com.au/new-apartments/putney-wharf-harbourfront-precinct-20-waterview-street-putney-nsw-2112">Putney Wharf</a> is one of the few remaining opportunities to secure a residence within a masterplanned waterfront community that combines direct water access, marina ownership opportunities and a genuine village lifestyle just moments from the Sy​dney CBD."

[smartcode_project:default project_id=13962 project_image_fid=362564] 
&nbsp; 
PERIFA Founder and Managing Director Fabrizio Perilli said the project reflected a shared commitment to delivering exceptional places that create long-term value for residents and the broader community. 
&nbsp; 
"The topping out milestone is a significant achievement for the Versatile Group and a testament to the collaboration between all project partners, consultants and contractors involved," Perilli said. 
&nbsp; 
"Beyond the residences themselves, <a href="https://www.apartments.com.au/new-apartments/putney-wharf-harbourfront-precinct-20-waterview-street-putney-nsw-2112">Putney Wharf</a> will establish a new waterfront destination that celebrates the history, character and lifestyle of this unique location while creating a lasting legacy for future generations."

[smartcode_project:default project_id=13962 project_image_fid=291195] 
&nbsp; 
Construction is being delivered by <a href="https://www.apartments.com.au/builders/versatile">Versatile Construction</a>, with structural works now substantially complete across the precinct. Attention will progressively shift to the construction of the waterview terraces, apartment façades, services and interior fit-out works over the coming months. 
&nbsp; 
With limited residences and marina berths remaining, <a href="https://www.apartments.com.au/new-apartments/putney-wharf-harbourfront-precinct-20-waterview-street-putney-nsw-2112">Putney Wharf</a> continues to attract strong interest from owner occupiers and downsizers seeking a premium waterfront lifestyle within close proximity to Putne​y Village, Rh​odes, Top Ry​de and the Syd​ney CBD. 
&nbsp; 
As one of the last opportunities to secure a residence within a new masterplanned waterfront community on Sy​dney Harbour, <a href="https://www.apartments.com.au/new-apartments/putney-wharf-harbourfront-precinct-20-waterview-street-putney-nsw-2112">Putney Wharf</a> is expected to remain a highly sought-after address for years to come.

[smartcode_project_cta:default project_id=13962]

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