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The days of residential yields returning towards 10% have well and truly passed thanks to the current boom, according to a recent Herron Todd White (HTW) residential report. 
The valuation firm took a look at rental yields across the nation.
"So, what can your investment dollar buy?
"Currently, inner-city Hobart has a unit at 1 Collins Street (pictured below) for sale at $850,000," the valuation firm said. 
<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/2019/11/4/hobart.jpg" alt="">
Rented at $775 per week this reflects a 4.74% return.
Or perhaps for the budget conscious a serviced apartment style motel room at 156 Bathurst Street (pictured below) is being marketed with a 6% return.
<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/2019/11/4/hobart%202.jpg" alt="">
Further from the city in Glenorchy, a two-bedroom, one-bathroom unit with carport in Lucia Court is offering 6.1%.
For the institutional buyer, there has been a sale of an eleven unit complex in Kingston for $2.75 million being eight two-bedroom, one-bathroom and three three-bedroom, two-bathroom units returning 5.63%.
"Up north in Launceston similar yields are available," the valuation firm said. 
Looking at the inner city, a walk-up two-bedroom unit at 43-47 Elizabeth Street (pictured below) rented at $350 per week is currently being marketed at $349,000 reflecting a 5.21% return.
<img src="https://www.urban.com.au/images/2019/11/4/launceston%201.jpeg" alt="">
Or for that budget buyer again how about a 36 square metre motel bedsit for $158,000 with a (net) return of towards 7%.
"In Parklands Parade, Newnham you can secure a two-bedroom, one-bathroom 1990s unit with carport for $189,000 returning 6.9%," the valuation firm continued. 
"And the institutional buyer? There has been a sale of eight new strata titled units in Hortus Place, Newnham for $2.25 million, all two-bedroom, one-bathroom with floor plates between 91 and 98 square metres." 
The sale reflected an adopted yield of 5.55%.
On the north-west coast, this month saw the sale of two new units in Nairana Place, Shorewell Park, Burnir for $550,000, comprising a two-bedroom and a three-bedroom, both one-bathroom with garage.
The sale showed an adopted yield of 5.48%.
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j.ballantyne1990-6AQqhLzZaK

Tasmania residential yields returning towards 10%: HTW residential 

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Despite the rebound in housing market activity and existing dwelling prices seen over recent months, we should not be expecting a sudden rebound in the new construction apartment market, according JLL.
Conditions will remain tough for developers in the short-term, particularly in Sydney and Melbourne as the tail end of the last construction cycle is absorbed, JLL's 3Q 2019 Apartment Market Reports said.
Nevertheless they said, these challenges will see supply continue to fall sharply over the next few years and will see the major markets move into under-supply progressively over the next 12-24 months.
"The recovery in existing property demand and prices is great for confidence in the broader market," JLL’s Head of Residential Research - Australia, Leigh Warner said. 
"However, this is likely to level out a little over the next couple of quarters, as more vendors are attracted back into the market. The recovery in investor demand is also likely to stay more muted than for owner occupiers and this remains an important source of demand for the new apartment market.
"Demand for new apartments will improve somewhat, but pre-sales rates will stay relatively slow. Developers are still competing against residual un-sold stock in recently completed projects, which in many cases are heavily discounted or offering other incentives to buyers."
"The good news is that with strong population growth and new completions still falling sharply, the process of consuming this residual stock will be reasonably quick. The timing of this process will be slightly different in each market due to all having slightly different construction cycles, but by mid-2021 we expect all the major markets to be either back in, or very close to, a position of under-supply again."
JLL data showed that the number of apartments under construction in the inner-city regions of Australia’s six major capital cities fell a further 5% in 3Q19 to 37,500 apartments and was down 23% over the past year and over 30% from its peak.
However, JLL said that perhaps the strongest sign of the decline that is still to come in apartment construction is the decline in the number of apartments being actively marketed. This fell a further 19% in 3Q19, to be 42% below a year ago and around 63% below its peak level. This decline has been felt across all monitored markets, but has been most severe in Sydney where it has fallen 54% over the past year and 80% from its peak level.
According to Warner, Brisbane is likely to be first into the next cycle.
"Brisbane supply peaked way back in 2016 and is more advanced in the process of absorbing residual stock. Construction will be particularly low in 2020 and 2021. At the same time, underlying demand continues to pick up as regional population growth increases and some large inner city infrastructure projects boost economic activity and lure construction workers to the region. A tightening of the market is already evident in the rental market, where upward pressure on rents have already re-emerged."
Melbourne and Sydney are likely to take a little longer to tighten up., he said.
"Melbourne’s very strong population growth will help with consumption of stock, but construction has been very concentrated in and around the CBD and there are some very large projects recently completed or soon to complete that still have a large amount of stock to be absorbed first," said Warner.
"In comparison, Sydney’s construction cycle was much more decentralised and only reached a peak much more recently. As such, residual stock to be absorbed is more spread across the entire Greater Sydney area and will take a little longer to work through. The recent building defect issues have also affected buyer confidence in the market. With a lot more choice in the market, we think buyers will gravitate to both the best locations and to projects with more widely recognised developers and builders."
"Perth’s housing market remains soft, but there is increasing optimism that better times are ahead. Improved local economic and population growth over the next few years should boost underlying demand growth, while lower interest rates and easier credit should also lure some buyers out of the rental market that have been holding off for prices to stabilise. Similarly, apartment prices are lower than they were a decade ago in Perth and this affordability and improving market outlook may attract a little more investor interest."
"Neither Adelaide nor Canberra have historically had significant apartment markets, but apartment living has started to take off in both markets over recent years. Supply levels remain elevated in both markets, which will put some moderate pressure on pricing ahead, but solid economic prospects and improved market sentiment after the interest rate cuts and easing of credit constraints is likely to mean a shallow downturn for Adelaide and Canberra. Further, smaller owner-occupier focused stock is likely to continue to hold up well."
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Conditions will remain tough for apartment developers for now: JLL 

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The Newcastle/Hunter area has a range of yields with the general figures sitting between 3.5% and around 6%, according to the latest Herron Todd White (HTW) residential report. 
The valuation firm took a look at rental yields across the nation.
"When discussing yields and property investments, you can break it into bite size chunks and compare the yield aspect of property versus the end capital growth," the valuation firm said. 
"Each has their benefits in the property realm and it all depends on what type of investment you require. Like all good investments you must find what works best for you in each situation.
"At the lower end you find the yields averaging around the 3.5% mark. These are the investments that are good quality properties in desirable locations which are steady and safe and in demand tenancy wise.
"Here these types of investments usually have strong capital growth and appreciation on the property.
"Basically, not huge amounts of income (or cash flow) but good solid capital growth figures generally."
The firm suggests that suburbs such as Hamilton and surrounds, Georgetown and New Lambton are examples.
"At the upper end, you find the 6% and above yields," it said.
"The higher the yield, the riskier the investment becomes, mainly because you take on more risk with the reward of higher cash flow.
"The capital growth is also usually more stunted as the yield stream is the main driver in these types of investments.
"As with any greater risk and greater reward style scenario, there is much less stability and potential for a negative effect resulting from outside forces.
"We are also finding more dual occupancy and ad-hoc boarding or student style housing that do have higher yield potential. But on the back of this greater reward comes the potential for problems which can include planning, zoning and ongoing maintenance issues. "
At any stage the property could become non-compliant with costly remediation works on the cards to rectify the issues, the report warns.
It notes any unplanned costs associated with investment properties is never ideal and something that needs to be factored into any planning for would be investors.
"We’ve seen plenty of new construction in the area to include a main house at the front of the site with a newly constructed granny flat at the rear. These are becoming common sights during our valuation runs," the valuation firm added. 
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Newcastle upper end market sees 6% and above yields: HTW residential 

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NCAR and IAG have released a report examining current and future climate change impacts on the Australian climate and weather extremes that produce significant property, personal and economic damage and hardship.
When examining the effected areas of tropical cyclones (TCs), they found there has already been a southward shift of the regions where tropical cyclones reach peak intensity and this is expected to continue.
Tropical cyclone risks are expected to increase most rapidly in the south-east Queensland / north-east NSW regions, followed by the coastal districts south of Shark Bay in Western Australia.
The world has entered a new era of global TCs in which economic and insured losses are doubling every 15 years.
A frequent problem in Australia is bushfires and according to the latest trends in fire danger indices, they are likely to increase in almost all locations nationally, leading to more frequent and extreme events, and longer fire seasons.
The rate of increase varies by location and will depend on weather system changes and site specific factors at regional scales, which means different regions may see different impacts on property values.
"Sea level rise is expected to accelerate around the Australian coastline but at differing rates. It is notable that past assessments of sea level rise are lower than those that recent observations show," the report said.
"Areas at risk of large and giant hail should progressively shift southwards, with the largest increase in risk likely to be in the region inland from the Hunter River south through the central and southern New South Wales highlands and central to eastern Victoria."
A note which hold both potential and danger for property values is that intense short duration rainfall is expected to increase almost everywhere in Australia, resulting in more frequent flooding in urban areas and in small river catchments. 
However this may lead to increase rainfall in drought-ridden areas of Australia which could positively effect property values particularly of the agricultural variety.
To read the full report click <a href="https://www.iag.com.au/severe-weather-changing-climate" target="_blank">here</a>.
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How are Australia's changing weather extremes going to affect real estate?

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A Wollongong apartment has been re-sold for $5.85 million.
The Illawarra district property had been the most expensive property of 2017 in the region when 11/72 Cliff Road, Wollongong sold for $3,793,000.
The oceanfront penthouse contains four bedrooms and two bathrooms.
It occupies the entire sixth floor of the east tower in the 33-apartment luxury development The Esplanade.
The 11/72 Cliff Road apartment was initially listed off-the-plan for $4.5 million in 2015.
Rob Austin from Harrison Property was the selling agent of both sales.
It has been sold to a Sydney buyer who was from Wollongong.
It has an internal floor space of 275 square metres plus 225 square metres of balconies, a five-car garage and lock-up storage.
The Esplanade is a dual-tower complex built on the former Villa Maria nursing home site.
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Wollongong apartment resold for $5.85 million

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The former Century 21 Wollongong real estate agent Hakan Kutup faced Wollongong Local Court yesterday.
Kutup faced court on fraud allegations.
He has been charged with 27 offences. 
Lake Illawarra detectives, with the assistance of the Office of Fair Trading, commenced an investigation in August into the alleged actions of Kutup.
Hakan Kutup, formerly of Century 21 Ultimate Wollongong, told the local paper, The Illawarra Mercury he would be fighting the charges in September.
Lake Illawarra detectives allege Kutup, 53, made false documents that claimed he had sold numerous properties and as a result would be entitled to the commission.
The alleged false documents included photo-shopped emails and letterheads purported to be made from solicitors and conveyancers located in the Illawarra, police allege.
They also include fabricated contracts of sales, fabricated agency agreement documents, false signatures and false bank deposits for the business that ran out of 4/ 74 Kembla St, Wollongong after being set up in 2009.
The documents were allegedly submitted to Paidonexchange Pty Ltd - a business that, for a fee, provides real estate agents their entitled commissions from the property up front, removing the need for the real estate agent to wait for the settlement.
As a result Kutup "made a total financial advantage of $263,755", police say.
They allege they also uncovered that Kutup misappropriated funds from a sale trust account to the amount of $220,515.
He was charged with 12 forgery offences, 12 fraud offences and three counts of fraudulent conversion of money.
Kutup was granted strict bail. 
The former Wollongong real estate agent, who faced court for the first time yesterday, had been a director at HKJS Holdings Pty Ltd (in liquidation) that formerly traded as Century 21 Ultimate (Wollongong).
In mid 2018 Century 21 removed HKJS of their C21 franchise with liquidation records suggesting the C21! HQ was owed $85,000.
The ATO was owed $185,000.
Kutup had previously worked at Park Trent.
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Former Century 21 Ultimate Wollongong estate agent Hakan Kutup on PaidOneExchange commission fraud charges

A glamourous Sydney CBD office suite has sold for $890,000

The 37 sqm office last traded in 2013 when bought for $375,000 by chemical supplies executive Michael Snounou, who is facing trial for allegedly importing methamphetamine ingredients.

Snounou was committed last month to stand trial for 32 offences but is yet to enter a plea.

Snounou’s tenant at the 350 George St premises is the Robb Report, the luxury brand magazine publisher.

<img alt="" data-entity-type="" data-entity-uuid="" src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2019/11/6/GEORGE%20STREET.jpg" />

When the ANZ secured permission to auction the heritage-listed property, the NSW Supreme Court was told there was expected to be a surplus from the sale.

It was listed through Belle Commercial agent Andrew Vines who expected buyers to pay around $25,000 per square metre.

The result was closer to $24,000 per sqm.

Some 10 contracts were issued. The net proceeds will be held by the NSW Trustee and Guardian until further order.

The 1870s building was designed in the Federation Romanesque style.

&nbsp;

The 37 sqm office last traded in 2013 when bought for $375,000 by chemical supplies executive Michael Snounou, who is facing trial for allegedly importing methamphetamine ingredients.

Michael Snounou's luxury George Street office sells 

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The Gold Coast’s exclusive beachfront street Hedges Avenue has experienced a surge in sales.

The street known as Millionaire’s Row has seen eight beachfront homes change hands in 2019 compared with two in 2017 and 2018. 

Sales so far this year have included:

<ul>
<li>97 Hedges Avenue: a four-bedroom home that sold for $5.6 million</li>
	<li>223 Hedges Avenue: a five-bedroom home that sold for $6.325 million</li>
	<li>99 Hedges Avenue: a three-bedroom home that sold for $6.395 million</li>
	<li>19 Hedges Avenue: a five-bedroom home that changed hands $4.725 million.</li>
	<li>215 Hedges Avenue: a five-bedroom home that sold for $4.9 million</li>
	<li>49 Hedges Avenue: a vacant lot that sold for $4.2 million</li>
	<li>95 Hedges Avenue: a three-bedroom home that sold for $4.8 million</li>
	<li>135 Hedges Avenue: a four-bedroom home that was listed for $5.595 million, and is now under contract.</li>
</ul>
Agent Luke Henderson from John Henderson Professionals Mermaid Beach said prestige buyers were feeling confident about the economic future of the Gold Coast and the city’s property market.

<img alt="" src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2019/10/30/PRINT_HAWA6156_20.jpg">

Henderson said there were now two more Hedges Avenue properties listed for sale including 111 Hedges Avenue, which has been put on the market by Scott Headland, who is a prominent figure in Queensland’s shopfitting industry.

Henderson said the sprawling, two-storey, six-bedroom home on the beachfront at 111 Hedges Avenue, Mermaid Beach was the stuff of dreams.

Sitting on a 769 square metre property, the two-storey home features 19m frontage to the beach, an 18 metre lap pool, spa, gym, study, home office, kids retreat, a bar and a chef’s kitchen.

“Little Dune”, which sits in the heart of the Gold Coast’s Millionaire’s Row, carries a price tag of $9.95 million.

The home’s master suite, which includes an ensuite, spa and walk-in robe and private balcony, directly faces the ocean, which is only metres away.

<img alt="" src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2019/10/30/PRINT_HAWA6167_21.jpg">

[smartcode_project:default project_id=6999]
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The Gold Coast's 'Millionaire's Row' Hedges Avenue experiencing a surge in sales 

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A strong pipeline of projects underway or yet to commence is creating a new air of expectation of improvement in Townsville, according to a recent Herron Todd White (HTW) residential report. 
The valuation firm took a look at rental yields across the nation. 
The report notes Townsville currently offers some good yield investing opportunities with a median house price of $320,000 as at June 2019 and the current trend median rent for houses at $360 per week.
The rental market tightened significantly following the February floods and although it has now eased somewhat, it remains tight, trending at under 2% vacancy according to our latest rent roll survey.
"We are seeing anecdotally increased investor interest including some investor groups acting on behalf of buyers seeking properties offering good yield returns and capital growth potential," the valuation firm said. 
In the current market, units are generally seeing higher yield returns due to the lower buy in cost and the trend median rent of $285 per week as at June 2019.
"We have seen some evidence of yields over 8.5% being achieved for houses in areas within the 4815 postcode due to the low buy in cost and the current rent being achieved on the back of the tighter rental market," the valuation firm added. 
The report notes house located closer to the city centre are typically showing lower yields due to the higher buy in cost, however the potential for capital growth in these areas in the shorter term is also more positive.
"Overall there are many suburbs throughout Townsville where solid yield investing options are available, particularly if not seeking short to medium term capital growth, however it is important to note that yields will vary based on demand and supply in the rental market and therefore it is important to take into consideration buying an investment property that will appeal to a wide range of potential renters." 
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Townsville rental market remains tight: HTW residential 

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Construction has commenced at QM Properties' luxury riverside project, Anthology New Farm, following $19 million in sales.
It includes the sale of all three penthouses, with the highest priced selling for $1.88 million.  
QM Properties has appointed McNab Constructions to build the Rothelowman designed building.
Located on tree-lined Moray Street, the building is expected to be complete by late 2020.
QM Properties Development Manager Glenn Rix said Anthology, which is six residential levels plus roof top facilities, comprises just 26 residences.
It is the first medium rise project to commence construction in New Farm this year.  
<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/2019/10/30/Anthology_Interior_Penthouse_Living_R005.jpg" alt="">
"Anthology has appealed to owner occupiers looking to live in a boutique building in one of the most sought-after suburbs in Brisbane," Rix said.
"To achieve over 60% pre-sales before commencing construction is an excellent result."
Rix said QM has partnered with McNab Constructions because the company has an enviable reputation for delivery of high quality product across multiple market segments. 
A mix of three bedroom apartments remain for sale from $1,125,000.
<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/2019/10/30/Anthology_pool.jpg" alt=""> 
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Anthology New Farm commences construction with $19 million in sales

The residential transformation of St Kilda Road is set to continue into with more new apartment plans for the sought-after boulevard.

Wing Tai Asia has lodged plans for a major residential tower at 464-466 St Kilda Road, replacing the former VACC House with an 18-storey mixed-use development designed around a retained heritage podium and a sculpted contemporary tower.

The proposal, prepared under Victoria’s Significant Residential Development with Affordable Housing pathway, would deliver 325 apartments and ground-floor retail across the prominent 4,653 sqm boulevard site in Melbourne’s St Kilda Road North Precinct.

The project centres on the adaptive reuse of the site’s heritage-listed VACC Building, an eight-storey office designed by Bernard Evans that has occupied the address for decades. Planning documents state the development would involve “carefully dismantling and conserving off-site the original metal fabric of the podium visible from St Kilda Road,” before reinstating it as the defining frontage of the new scheme.

Above the restored podium, Wing Tai is proposing a curvilinear residential tower. The scheme includes 172 one-bedroom apartments, 63 two-bedroom apartments, 66 three-bedroom apartments, and 24 four-bedroom apartments, alongside two ground-floor food and beverage tenancies fronting St Kilda Road.

The tower has been designed with substantial articulation and variable setbacks to minimise perceived bulk and maintain view corridors along the boulevard. Urbis, which prepared the planning report, said the design “has been significantly articulated through a curvilinear design” with “an interplay with materials, façade expression and depth” to create visual separation and visual interest.

The proposal also includes 254 basement car spaces, landscaped pedestrian links connecting St Kilda Road and Queens Lane, and a biophilic landscape strategy featuring canopy trees, raised planters, cascading greenery and a glass oculus pool overlooking the eastern frontage.

Planning documents confirm the $270.1 million development will contribute 3 per cent of project costs to the Social Housing Growth Fund as part of the application process.

Wing Tai acquired the St Kilda Road property in 2018 alongside Abacus Property Group for $95.38 million, before later consolidating ownership of the site. The property previously served as the Victorian Automobile Chamber of Commerce headquarters for around 60 years.

The transformation of the St Kilda Rd boulevard is already beginning to materialise, with a number of high-profile projects recently completed, launched, or approaching launch as developers continue to back the long-term appeal of the precinct.

Among the most notable recent completions is Louise by Samuel Property Group, just off the strip on Queens Lane, the same pocket Hirsch &amp; Faigen recently launched The Queensbury. Mirvac is too on the same street with The Albertine, which is approaching completion.

Dexus recently secured approval for its slice of St Kilda Road, while Gurner also has approved plans for the precinct.

Joel Robinson

Wing Tai unveils 325-apartment St Kilda Road tower on former VACC House site

Malaysian developer <a href="https://www.apartments.com.au/developers/s-p-setia">SP Setia</a> is the latest to jump into St Leonards booming Transport Oriented Development precinct.

The developer, which has previously delivered Sapphire by the Gardens apartment development in Melbourne, identified the Atchison Street site in 2023. It filed a Scoping Report around 12 months ago, and now has revealed the designs for the new&nbsp;40-storey mixed-use tower.

The State Significant Development Application covers <a href="https://next-portal.urban.com.au/projects/14650/summary">20-22 Atchison Street</a>, a 1,374 sqm site positioned between St Leonards Station and the new Crows Nest Metro station.

Designed by <a href="https://www.apartments.com.au/architects/cox-architecture">COX Architecture</a>, the project would deliver 181 apartments, above a four-storey commercial podium, five basement levels, and new public domain works along Mitchell Street. The apartment mix comprises 35 one-bedroom apartments, 39 one-bedroom-plus-study apartments, 85 two-bedroom apartments, and 22 three-bedroom residences.

The proposal has been lodged as a shop-top housing development under the NSW Government’s TOD planning pathway, which allows increased density around key transport infrastructure. The site sits within the recently rezoned Crows Nest Accelerated TOD Precinct.

<img alt="First look: SP Setia targets St Leonards skyline with 40-storey TOD tower" data-entity-type="file" data-entity-uuid="b799673d-48e2-46b0-801a-0e33a9330100" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/atchinson%20site.png?VersionId=dPh0UfwfaHpbFL1R7H1cbZNbIW0CHbCC" />

SP Setia acquired the Atchison Street site as part of its continued expansion into the Australian apartment market. In comments made to City &amp; Country (The Edge Malaysia) in 2023, SP Setia President and CEO Datuk Choong Kai Wai described the acquisition as “a strategic move” aligned with the group’s post-pandemic market recovery strategy.

“Our target for this exceptional development is local and overseas buyers, including first-home buyers, downsizers and investors,” Choong said.

The tower has been designed as a slender vertical form rising from a mixed-use podium, with COX Architecture positioning the development as a response to the evolving St Leonards and Crows Nest skyline.

“The purpose of the project is to facilitate the delivery of high-quality housing at a strategically located site and deliver a built tower outcome that is consistent with the desired future character of St Leonards and aligns with the TOD controls,” the design report stated.

<img alt="First look: SP Setia targets St Leonards skyline with 40-storey TOD tower" data-entity-type="file" data-entity-uuid="b1a85eee-76f7-436c-a6da-73ba827b9b13" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/atchinson%20entry.png?VersionId=dA9jHGPMcm.dDbwk4QfxqWiY5bfh3UVt" />

The podium would incorporate retail uses fronting Atchison Street, commercial tenancies, landscaped communal areas, and pedestrian improvements along Mitchell Street. Vehicle access and loading would be consolidated via Atchison Lane.

Residents would have access to more than 665 sqm of communal indoor and outdoor spaces, while the development proposes 96 parking spaces across five basement levels.

The proposal also includes a commitment for 10 per cent of residential floor space to be allocated toward affordable housing through a monetary contribution.

COX said the tower form responds directly to the emerging high-density character of the precinct while seeking to maximise solar access, cross ventilation, and outlook from apartments.

<img alt="First look: SP Setia targets St Leonards skyline with 40-storey TOD tower" data-entity-type="file" data-entity-uuid="2163f85c-f63b-4be3-aafa-f8763976cec5" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Article%20Feature%20Image%20%28Grid%29_5.png?VersionId=WiAmtIKJ6.ZQ41EtYEQ1fol7AeorKBlL" />

“The building is orientated towards north,” the Apartment Design Guide compliance report noted, adding that the tower’s slim form was driven by the constrained inner-urban site dimensions.

The design also incorporates landscaped setbacks and communal open space at podium level, intended to soften the interface with surrounding streets and improve pedestrian amenity.

The project adds to a growing wave of redevelopment proposals reshaping St Leonards and Crows Nest following the opening of the Sydney Metro City line and the NSW Government’s push for higher-density housing around major transport nodes.

Last week Stockland filed plans just down the road. They want to build a <a href="https://www.apartments.com.au/new-apartments/601-pacific-highway-st-leonards-nsw-2065">52-storey tower on Pacific Highway</a>.

Read more:&nbsp;<a href="https://www.apartments.com.au/news/nsw/first-look-stockland-plans-52-storey-538-apartment-st-leonards-tower">First look: Stockland plans 52-storey, 538-apartment St Leonards tower&nbsp;</a>

First look: SP Setia targets St Leonards skyline with 40-storey TOD tower

<a href="https://www.apartments.com.au/developers/urban-property-group">Urban Property Group</a> has revealed plans for a new mixed-use tower at 10 Dangar Street, Wickham, advancing a proposal that would reshape the southern gateway to Newcastle’s city centre with one of the city’s tallest residential buildings.

The State Significant Development proposal, now on exhibition, seeks approval for a <a href="https://www.apartments.com.au/new-apartments/bowline-10-dangar-street-wickham-nsw-2293">43-storey tower</a> immediately adjacent to the Newcastle Interchange. The project would deliver around 200 apartments, including 42 affordable housing dwellings, alongside 99 co-living units, a 171-room hotel, retail space, and new public domain integrated through the site.

The scheme marks a significant escalation of plans previously approved for the site. Urban Property Group took over the prominent 2,904 sqm parcel, where excavation and demolition had already commenced under an earlier consent for a 14-storey mixed-use development.

<img alt="First look: Urban Property Group unveils Newcastle’s next supertower at Wickham interchange" data-entity-type="file" data-entity-uuid="58a96dd9-407f-4d20-86b4-94e4bfeef74b" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/wickham%20podium.png?VersionId=LGlf08pdFGAZDzvx_CXC4XakHNZRuEE0" />

Designed by <a href="https://www.apartments.com.au/architects/sjb-architects">SJB</a>, the tower has been conceived as a landmark transit-oriented development anchored to the Newcastle Interchange precinct. The proposal includes 245 build-to-sell apartments across a mix of one, two, and three-bedroom residences, as well as two penthouses. Fifteen apartments and one operational unit are earmarked for NDIS housing. The co-living component would add a further 99 units, while the podium would accommodate retail uses and hotel facilities.

SJB said the site presents “a valuable opportunity to anchor the precinct by setting the standard for design, active ground planes and character at the key southern gateway.”

The architecture responds directly to the site’s position beside major transport infrastructure and within one of Newcastle’s fastest-evolving urban renewal precincts. The tower form sits above a sculpted podium designed to frame new public spaces, including a through-site pedestrian link connecting Station Street to Hannell Street, landscaped plazas, and activated retail edges.

<img alt="First look: Urban Property Group unveils Newcastle’s next supertower at Wickham interchange" data-entity-type="file" data-entity-uuid="a7bd6ff0-f7db-4ce8-a6dc-ea56e72c6149" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/wickham%20lanne.png?VersionId=xzf39VADyhj7zBQY2I9fx9vI62u2tuSb" />

The design report describes the project as part of the broader transition of Wickham into “a vibrant, high-quality mixed-use urban precinct” that leverages proximity to the station, open space, and regional connectivity.

A detailed public art strategy has also been prepared for the development. The strategy positions the project as “a transit-oriented development of state significance at the gateway to Newcastle’s city centre” and outlines a series of integrated artworks responding to Newcastle’s industrial and transport heritage.

Creative Road’s curatorial framework for the project, titled Unveil, draws on “stratified surfaces, carved volumes, and light-filled apertures” while referencing Newcastle’s transformation from an industrial city into a contemporary education and technology hub.

<img alt="First look: Urban Property Group unveils Newcastle’s next supertower at Wickham interchange" data-entity-type="file" data-entity-uuid="77a882bb-14b1-4d28-99ff-9438e39508c0" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/wickham%20site.png?VersionId=cevgo_vN0eKPK78P8YcEu3mKPLkpFqE7" />

The proposal is being advanced through the NSW Housing Delivery Authority pathway after being declared State Significant Development in June 2025. The accompanying scoping report states the development aims to “maximise the site’s proximity to the Newcastle Interchange by delivering transit-oriented development” while increasing housing supply and affordable housing provision within the Newcastle LGA.

Urban Property Group’s plans align with the long-term strategic vision established under the Wickham Master Plan, which identified the interchange precinct as suitable for substantial uplift in height and density. The current proposal would significantly intensify that vision, positioning the tower among the tallest developments proposed for Newcastle.

The site sits immediately north of the Newcastle Interchange, bounded by Dangar Street, Hannell Street, and Charles Street. It is surrounded by a rapidly growing cluster of residential towers and mixed-use projects that have emerged following the completion of the light rail and transport interchange.

First look: Urban Property Group unveils Newcastle’s latest tower at Wickham interchange

Bottega House has completed settlement of a landmark riverfront site in Macquarie Street, St Lucia, representing its first major Brisbane development.&nbsp;

Positioned on the banks of the Brisbane River, the <a href="https://www.apartments.com.au/new-apartments/180-macquarie-street-st-lucia-qld-4067">premium site at 180 Macquarie Street</a> features uninterrupted river frontage in one of Brisbane’s most tightly held residential precincts.&nbsp;

The proposed development, currently under assessment with Brisbane City Council, has been designed by <a href="https://www.apartments.com.au/architects/plus-studio">Plus Studio</a> with interiors by <a href="https://www.apartments.com.au/interior-designers/mim-design">Mim Design</a> and will deliver a boutique collection of premium residences positioned specifically for owner occupiers and downsizers.&nbsp;

The residences are set to redefine luxury apartment living in the area, with a focus on architectural quality, refined finishes, landscape integration and elevated amenities including curated wellness facilities, resort-style pools and recreation spaces rarely seen in the local market.&nbsp;

Exclusive sales for the project will be led by Keenan &amp; Byrne, ahead of an anticipated launch later this year.&nbsp;

Bottega House Managing Director Nick Malloch said the project reflects the group’s ambition to deliver a highly curated residential offering within one of Brisbane’s most tightly held precincts.&nbsp;

“This is an incredibly rare riverfront opportunity and one we have approached with a long-term perspective,” Malloch said.&nbsp;

“Our vision from the outset was to create a boutique collection of residences that feel more like private homes than traditional apartments, with generous proportions, refined finishes and exceptional amenity throughout."

Malloch says there is a&nbsp;lack of premium owner-occupier stock of this quality in the market, particularly for downsizers wanting space, privacy and a true lifestyle offering without compromise.&nbsp;

"Demand is expected to be strong given the scarcity of premium riverfront opportunities of this nature within Brisbane’s inner-west."&nbsp;

Bottega House secures landmark riverfront site in St Lucia 

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The arrival of the first piling rig officially marks the commencement of construction at SIERA’s new beachside apartment development, Exhale, in Northcliffe.

<a href="https://www.apartments.com.au/new-apartments/exhale-surfers-paradise-8-enderley-avenue-surfers-paradise-qld-4217">Exhale</a>, a glass-encased tower featuring 54 large-scale apartments at 8 Enderley Avenue, is SIERA’s third Gold Coast development. It follows the recently completed PIPIS Bilinga beachfront project, which achieved suburb-record prices, and the soon-to-be-completed Chevron Island development, Tapestry.

[smartcode_project:default project_id=112661 project_image_fid=359603]

<a href="https://www.apartments.com.au/developers/siera">SIERA</a> Founder and Managing Director Brent Thompson said the arrival of the piling rig represented a significant milestone for the development, which is scheduled for completion in late 2028.

Over the next month, around 260 piles are expected to be installed as work progresses on the basement structure. The building is anticipated to rise above ground level early next year, before unveiling its sculptural glass curtain wall, developed in collaboration with specialist façade engineers.

“The façade was designed to maximise panoramic coastal views while creating a distinctive architectural identity,” Thompson said.

[smartcode_project:default project_id=112661 project_image_fid=355935]

Designed by BDA Architecture, Exhale will comprise just 54 two- and three-bedroom residences across 26 levels, a level of low-density living rarely delivered in this beachside pocket between Surfers Paradise and Broadbeach.

The project has been conceived as a resident-only building, with no short-stay accommodation permitted. SIERA says the model is intended to appeal to long-term owner-occupiers rather than transient holiday demand.

[smartcode_project:default project_id=112661 project_image_fid=361052]

Residences have been designed with large-format layouts and expansive glazing, with most apartments featuring more than 30 metres of glass frontage to maximise natural light and ocean views.

The amenity offering spans two levels and centres on wellness and lifestyle, including a heated magnesium pool, sauna, yoga and Pilates studio, gymnasium, private dining facilities, cinema lounge, and dedicated surfcraft storage.

[smartcode_project:default project_id=112661 project_image_fid=359607]

More than half of the apartments have already sold. SIERA has also opened a sales gallery for Exhale at its Chevron Island commercial premises, near its Tapestry tower and the site of its second Chevron Island apartment development, which is slated to launch in early 2027.
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