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A development site, currently occupied by the Coorparoo RSL in the affluent Brisbane suburb hits the market.   The property at 20 Harries Road commands a 2,693sq m corner site with 105m street frontage, and is opposite Coorparoo Square.
The $252 million mixed-use development has recently completed by heavyweights Fraser Property Australia and Honeycombes Property Group.   The property is being marketed for sale by Ray White Commercial Qld Director and Head of Investment Sales Tom Barr and Ray White Special Projects Qld Executive Director Matthew Fritzsche.
“The site and location offer fantastic development potential with a code accessible height up to 16 storeys, with upper levels to incorporate panoramic city views,” Mr Barr 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/2020/9/21/Aerial_2.jpg" alt="">   “Potential development opportunities include vertical retirement living/aged care, residential apartments, build-to-rent, student accommodation, medical, commercial, and retail (STCA).”   “A real drawcard is the potential for a short-term leaseback from the Coorparoo RSL post settlement, which would provide some additional holding income for the purchaser (likely a developer), whilst finalising their development scheme, obtaining town planning approval, and de-risking the project.  
"This would also give the Coorparoo RSL time to acquire another property and get their new facility ready for occupation.”
<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/2020/9/21/Image_2_1.jpg" alt="">   “The upcoming Eastern Transitway will also really appeal with the project delivering targeted bus priority measures to improve safety, reliability and capacity along Old Cleveland Road, from Coorparoo to Carindale,” Mr Fritzsche said.   The popular suburb is only 3km to the Brisbane CBD and is within walking distance to public transport.
 Expressions of interest close on October 14. 
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j.ballantyne1990-6AQqhLzZaK

Coorparoo development site hits the market

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With much the nation having the long weekend public holiday, auction activity across the combined capital cities is set to be subdued this weekend. 
Amid the limited listings, some agents succeeded in selling before auction, including <a href="https://www.realestate.com.au/property-house-nsw-riverview-134313290">112 Riverview Street</a>, Riverview.
Belle Property’s Simon Harrison sold the property, which last traded in 2005 for $580,000.
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There are 719 capital city homes scheduled for auction this week, according to CoreLogic, down on the 1,082 auctions held last week and lower than the 1,324 last year.
Across the individual cities, scheduled volumes are set to be lower over the week across all but Perth and Melbourne. However, for both cities the rise is across already extremely low volumes.
Sydney makes up more than half of the overall scheduled auction volumes, with 473 homes scheduled, off the back the busiest week the city had seen since early April last week (812).
Melbourne volumes are higher over the week but the city continues to see some of the lowest levels of activity recorded. There are 77 Melbourne homes scheduled for auction, up from 40 last week.
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According to Ray White, the Melbourne property deep freeze is over, with numbers set to soar in the coming weeks.
News of eased restrictions has already inspired buyers to list their properties with already 26 Melbourne Ray White auctions scheduled for this week, compared to last week’s four.
The national Ray White Group recorded a 70 per cent Sydney clearance rate last weekend, one of the highest in six months.
An offering in East Ryde, marketed by Ray White’s Barrie Brown, is expected to do well this weekend.
Situated at <a href="https://ecomms.raywhite.com/collect/click.aspx?u=d2QwOW9DWld4TzJhNXgyRWZuQ1hRV1ZETUk5QXRjTUlDWTdNZGNXdmZQdTdZNjAzL2hzYjNsb04xZG1QRGtHRlhoZ2ozbFVLZUQ4ZmJTTkpIMUwvSU5iTnkwUG9ETHBQR0VxUlJZUEUyWjA4UloyVTVQbnVjdXJidExBN05oQXo3M3ZoZG04UENSNVp6THc5a0xkcDErL3EzYVhuMXRYdnROaFZ1SVh0Nkk4PQ==&amp;rh=ff006a241e9e53799580abbb0c4cb9afb1ccc258">2 Rodney St</a>, the three-bedroom home is listed with a price guide sitting at $1.6 million.
"There have mainly been young couples coming to inspections which fits the suburb’s core demographic,” Mr Brown said.
In Queensland near beachside homes are listed for auction this weekend.
A four-bedroom, four-bathroom Mermaid Beach residence.
The tri-level home, located at <a href="https://www.realestate.com.au/property-house-qld-mermaid+beach-134386122">34 Dudley Street</a>, was designed by architect John Campbell and features floor to ceiling windows, an alfresco area and light-filled interiors.
Over the same week one year ago, 1,324 homes were taken to auction across the combined capital cities returning a final auction clearance rate of 67.6 per cent, according to CoreLogic. 
In Sydney last year, just 317 homes went to auction across the city on the week of the long weekend. 
In comparison, 950 homes were taken to auction over the previous week. 
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October long weekend sees subdued auction listings

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A private investor has secured a prime retail investment, leased long-term to national retailer Cheap as Chips for $3.72 million on a yield of 7.4 per cent. 
Located in the heart of Colac Activity Centre at <a href="https://www.commercialrealestate.com.au/property/173-183-murray-street-colac-vic-3250-2016401443">173-183 Murray Street,</a> Cheap as Chips Colac is a well-established and proven ‘essentials’ retailer.
Its network of 42 stores nationally across SA, NSW and VIC has remained open and trading throughout Victoria’s Stage 4 restrictions.
Occupying a large site area of 2,460sqm with a gross floor area of 1,868sqm and 28 car spaces, the property offers exposure to major thoroughfare Murray Street (Princes Highway) with a street frontage of 30 metres. 
Colac, a lakefront regional centre and the largest township in the Colac-Ottway shire continues to grow in popularity with a strong population of 13,058 and an exceptional range of amenities.
The property was sold by Rick Silberman and Steven Lerche of Savills Australia who said this was the first time the property had been offered in 30 years.  
“It was previously a Coles Supermarket for many years until they outgrew the space and Cheap as Chips took over in 2017 on a new 10 year lease, plus additional options," Mr Silberman said.
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Victoria retail investment sold for $3.72 million despite stage 4 lockdown

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Ray White Waterloo business owners Eric Wei and Edwin Wang have just expanded and launched their second location in Eastwood in north-west Sydney, teaming up with local powerhouse Wen Huang as the third principal.
The team are set to take the Eastwood region to the next level, just like he has done with their Waterloo office over the past 18 months.
The team also have further expansion plans on the horizon, with the third office in Norwest set to open later this year.
“Opening our second and third office locations was inspired by the rapid growth in the area and our own local knowledge of the region,” Mr Wang said.
“Eastwood is full of opportunity, with lots of development already underway, so we are really keen to bring our real estate services to the local community.”
Some 18 months ago, the team of property and finance professionals joined forces to make their real estate dream a reality, in Sydney’s diverse inner-city suburb of Waterloo. 
Mr Wei and Mr Wang, both with finance experience in Shanghai and Sydney, shared a common goal of opening a Ray White office. 
“We always knew  Ray White was going to be the best fit for us, once we finally opened our own office in Waterloo,” Mr Wang said.
“We wanted to pair our knowledge of the asian buyer and vendor market, with the strongest local brand in real estate, and the corporate team have been incredibly helpful in guiding us through running a business.”
Since they opened their first office, the team built up their sales and property management business. 
The pair have worked together on and off for many years, mainly in off the plan project sales for big names in the Sydney development sector. They also have particularly strong experience and interest in the Eastwood region and its surroundings. 
“The Ryde and Macquarie areas have gone through the roof with real estate and development in the past couple of years, and the Eastwood region is performing just as well,” Mr Wei said.
Eastwood is 17km north-west of the Sydney CBD and is known for its cultural diversity and attraction of the Chinese community, with about 800 apartments due for completion over the next couple of months.
“There is a really interesting mix of house and commercial activity in the Eastwood area, with lots of shopping and services at everyone’s doorstep,” Mr Wang said.
“I have lived just nearby in Rhodes for the past six years, and Eastwood has always been the go to place for grocery shopping, and beautiful homely restaurants and eateries.” 
Alongside Eric Wei, Edwin Wang and Wen Huang, a team of 11 experienced property management and sales professionals will be joining them.
“We believe our own cultural background and resources put us in a great position to service the area well.”
“We already have a good feel for the area, and are looking forward to thriving under such a strong family name in the business” Mr Wang said.
Over the next 12 months, the main goal for the team is to increase market share, build a strong rent roll of over 200 properties and establish their new office as the go-to for all real estate requirements in Eastwood and its surrounds. 
Ray White New South Wales CEO Andrew McCulloch welcomed the expanded team to the network.
“The team at our new Eastwood office are a natural fit to take the real estate market in this region even further,” Mr McCulloch said.
“We’re delighted to have seen their incredible progress with their first office in Waterloo, and  look forward to supporting them as they continue to grow now in the Eastwood region as well.”
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Ray White NSW welcomes Eastwood expansion

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Lachlan Marshall and Jared Johnson have been welcomed as directors in a new joint venture with the Gold Coast’s leading residential business Harcourts Coastal. 
Managing director Dane Atherton noted the pair had created a "formidable business" during their time in the industry.
"Jared and Lachlan are aligned with our vision to create a leading commercial offering that harnesses the strength of our existing operation and brings a new level of energy and marketing to the Commercial space," Atherton said.
The multi award-winning team depart the Ray White Surfers Paradise business after five years with the group following a string of recognitions.
This includes being awarded as the number one marketing agents internationally for the entire Ray White Commercial network in 2019.
The move will see them as equity partners in Harcourts Coastal Commercial.
"Since day one I have had strong ambitions to a be a business owner. The opportunity to start and grow a commercial business alongside Harcourts Coastal who sell $800 million dollars’ worth of residential property every year is incredibly exciting," Jared Johnson said. 
"Harcourts Coastal Commercial will look to change the face of commercial property on the Gold Coast and I look forward to growing people within our team and helping them become top of their game!" Lachlan Marshall said. 
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Lachlan Marshall & Jared Johnson started a joint venture with Harcourts Coastal Commercial

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The Federal Court of Australia has ordered two entities in NAB’s wealth management division to pay a total $57.5 million penalty after the Court found that NULIS Nominees (Australia) Limited (NULIS) and MLC Nominees Pty Ltd (MLC Nominees) made false and misleading representations to superannuation members.
It was about their entitlement to charge plan service fees and members’ obligations to pay the fees.
The court also made declarations that MLC Nominees and NULIS failed to ensure that their financial services were provided efficiently, honestly and fairly.
MLC Nominees will pay a total penalty of $49.5 million for its contraventions.
NULIS will pay a penalty of $8 million for its contraventions.
Between 8 September 2012 and 30 June 2016, MLC Nominees misled members in the MasterKey Product and deducted approximately $33.6 million in Plan Service Fees from approximately 220,000 members of MasterKey Business Super (MKBS) and MasterKey Personal Super (MKPS), divisions of the MasterKey Product, who did not have a Plan Adviser.
Between 8 September 2012 and 30 September 2018, MLC Nominees and NULIS misled members and deducted approximately $71.9m Plan Service Fees from approximately 457,000 members of MasterKey Personal Super linked to Plan Advisers where Plan Advisers were not required to provide services and members did not receive services or any services they could not otherwise obtain for free.
The Federal Court made declarations to the effect that NULIS and MLC Nominees breached the ASIC Act for misleading and deceptive conduct and by making false or misleading representations, for which the civil penalties have been ordered.
The contravening conduct was done by MLC Nominees’ and NULIS’ in their failure to inform members that, when they transferred from MKBS to MKPS, they could “turn off” their plan service fee.
Other declarations related to failing to comply with the financial services laws, for misleading and deceptive conduct and for issuing a defective Product Disclosure Statement.
The court ordered that the defendants’ pay ASIC’s costs of the proceedings.
In his decision, Justice Yates described NULIS and MLC Nominees’ contraventions of s12DB of the ASIC Act as “very serious.”
ASIC deputy chair Daniel Crennan QC noted it was the largest total penalty yet imposed in a civil action filed by ASIC.
‘Fees for no service conduct is particularly egregious, having resulted in substantial financial loss for thousands of unsuspecting consumers.
"ASIC will continue to bring enforcement action against this misconduct and other case studies from the Financial Services Royal Commission.
"This demonstrates our resolve to deliver on the public’s expectation that we hold wrongdoers of all dimensions to account."
ASIC acknowledges that MLC Nominees and NULIS made admissions of liability during the proceedings and notes that this cooperation was taken into account by Justice Yates in determining the penalty.
<h2>Download</h2>
<a href="https://download.asic.gov.au/media/5783217/australian-securities-and-investments-commission-v-mlc-nominees-pty-ltd-2020-fca-1306.pdf" target="_blank">Download the full judgment</a>
<h2>Background</h2>
MLC Nominees was the Trustee of The Universal Super Scheme (TUSS) until 30 June 2016. TUSS became the MLC Super Fund and NULIS was the Trustee of the MLC Super Fund from 1 July 2016. The MasterKey Product was an MLC branded corporate superannuation product established as part of TUSS (and subsequently part of the MLC Super Fund).
ASIC commenced proceedings against NULIS and MLC Nominees on 6 September 2018 (18-259MR). Although these proceedings commenced before the publication of the Financial Services Royal Commission Volume 2 Final Report, NULIS was a Superannuation Case Study.
The maximum penalty per contravention at the time the unlawful conduct occurred ranged from $1.1m to $2.1million. The maximum penalty per contravention for conduct of this kind occurring after 13 March 2019 was increased by Parliament to the greater of $10.5million, three times the benefit obtained or 10% of the company’s annual turnover. Increased maximum penalties also apply to contraventions of s912A Corporations Act occurring after 13 March 2019 which did not attract civil penalties before this date.
Between October 2016 and June 2017, NULIS remediated No-Adviser members approximately $35.9m (including interest and less fund tax of $6m). As at 30 April 2019, a further total of $178,101 (excluding fund tax) was remediated to a further 1,120 No-Adviser member accounts.
By 31 May 2019, NULIS had paid $116,659,241 (excluding fund tax) to No-Adviser members and Linked Members.
ASIC also imposed, by consent, additional licence obligations on NULIS in January 2017 following its inquires in relation to several breach reports, including the Plan Service Fee.
ASIC has been monitoring remediation for fees for no service failures by financial services institutions including NAB and its associated entities (18-229MR, 20-028MR).
This was the first enforcement action commenced by ASIC concerning fees for no service (FFNS) activity. In 2019, ASIC also commenced civil penalty proceedings in the Federal Court against NAB itself for alleged contraventions of the ASIC Act and the Corporations Act for FFNS activity. These proceedings are being case managed by the court to trial, a date is yet to be scheduled (19-360MR).
In August 2020, ASIC commenced civil penalty proceedings in the Federal Court against State Super Financial Services Australia Limited for charging at least 36,592 members fees for financial advice that StatePlus promised it would provide but did not provide (20-189MR).
Also in August 2020, ASIC commenced civil penalty proceedings in the Federal Court against Asgard Capital Management Limited for charging adviser fees to 404 customers for financial advice that was not provided and also against Asgard and BT Funds Management Limited for making misleading representations in half-yearly or annual account statements regarding the charging of the adviser fees (20-190MR).
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NAB superannuation trustee companies to pay $57.5 million penalty for fees for no service breaches: ASIC 

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A 600sqm facility in Kunda Park has been leased to Gold Coast company Classic Concrete Pumping on a five-year term.
Jason O’Meara of Savills had the listing. 
The facility at <a href="https://www.realcommercial.com.au/leased/property-12-tectonic-crescent-kunda-park-qld-4556-503439554">12 Tectonic Crescent</a> includes office and warehouse and 1,500sqm hardstand security fenced yard.
Savills received solid enquiry though February and into March as there is currently a massive shortage for sheds this size with useable, secure and compacted hardstand. 
“Standalone industrial properties such as this are in demand at present and there are few of them as most buildings account for 50-55% of site coverage, so to get the extra area for hardstand and truck set down areas is challenging” Mr O’Meara said.
Classic Concrete Pumping emerged 17 years ago when company founder and Managing Director Peter Gisinger had a passionate belief that he could build a successful concrete pumping business.
<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/2020/9/21/12%20Tectonic%20Cres%20Kunda%20Park%20-%20Tony%20Douglass%20Classic%20Concrete%20Pumping%20Manager%20-%20Sunshine%20Coast%20Right%20Jason%20OMeara%20of%20Savills.jpg" alt="">
 
Four pre-loved concrete pumps, referred to more often as ‘Jurassic’ than ‘Classic’ and eight hard working crew set out to prove their worth. 
Classic Concrete Pumping have resolutely built a reputation for outstanding service and with that built a loyal customer base and grew their fleet, crew and company HQ to keep up.
“We are strongly committed to the Sunshine Coast and committed to industry-best service and customer satisfaction with 90 employees between our 3 locations on the Gold Coast, Brisbane and Kunda Park depot” Peter Gisinger said.
Sunshine Coast Manager Tony Douglass said the business has a very modern fleet in total of 46 units, from line pumps, both low and high pressure, to 3 x 58m booms, and most sizes in between. 
“Our equipment is fully certified, plant registered and periodically independently inspected. These stringent measures guarantee safe, modern equipment to our job GPS tracked means we always know where your machine is”. 
"There has been good industrial leasing traction over recent months in Kunda Park with net absorption of factory/warehouse space on the incline. Industrial leasing activity through Covid to mid-year has been encouraging. 
"We have witnessed some strong lease transactions with Savills leasing 506 Maroochydore Road in Kunda Park to a Brisbane based company Oxworks Pty Ltd.
Other businesses to lease larger facilities in the immediate area recently include Sydney Tools and Express Print and Mail taking up occupancy on Maroochydore Road.
“We are aware of a number of larger tenants looking for suitable space, but with limited options to put to them, and a shortage of land generally mid coast, Savills would be keen to talk to owners with expiring leases or vacant warehouses coming up for lease” said Mr O’Meara.
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Tectonic Crescent, Kinda Park facility leased 

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Belle Property Wilston has announced the appointment of agent Luke Burton as director of sales in his return to the agency.
Burton has over a decade of experience in residential real estate sales in Brisbane’s inner north.
“When the opportunity came up to become a key partner in the Belle Property Wilston office, it was an easy decision to make,” said Burton.
Teaming up with principal Debora Sutton in his new role, Burton has already recruited two well-established agents, Alex Struss and Sam Landon.
The agency’s overall growth strategy includes attracting the right people and providing them with the right opportunity, the head of network growth, Nick Boyd, said.
“We have known Luke for a long time, and he is the perfect fit for the business given his skill, background and strong-hold on the local market,” Boyd said.
Prior to running Burton and Ryan, a residential real estate agency of his own, Burton worked for Belle for almost four years.
“I’m excited about what lies ahead for our sales team, and the opportunities we are able to provide sales agents to better serve the local property market to the level deserving of Brisbane’s Inner North,” Burton said about his new position.
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Belle Property Wilston recruits Luke Burton

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A residential land parcel on Fraser Island has been listed for mortgagee auction.
Fraser Island, which sits off Australia’s eastern Queensland coast, is the world's largest sand island.
The <a href="https://www.realestate.com.au/property-residential+land-qld-fraser+island-202810158">beachfront allotment</a>, located on the western side of the Kingfisher Bay Resort, was advertised as mortgagee on realestate.com.au.
Adjacent to architecturally-designed beachfront housing, the 1080sqm block offers an ideal opportunity for a residential development.
Its offerings include unrestricted views overlooking the Great Sandy Straits and a unique location.
The median value price for homes on <a href="/developments/kgari-qld-4581">Fraser Island</a> is over $1,000,000 according to CoreLogic.
Ray White Hervey Bay agent Glenn Fallon holds the listing.
The auction will take place on Saturday, October 24.
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Beachfront land on Fraser Island listed for mortgagee auction

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Two villas in Queensland’s Gold Coast suburb, Southport, has been listed for mortgagee auction.
The residence offers nine-bedrooms and six-bathrooms over the two villas located at <a href="https://www.realestate.com.au/property-unitblock-qld-southport-134237966">10 Lydia Grove</a>.
Advertised as a mortgagee on realestate.com, the property offers a profitable opportunity to purchase two almost finished villas in one line.
Set on 564sqm, the three-storey units both have double lock-up garages.
The home is ideal for an investor or DIY renovator, with the chance to occupy one dwelling and rent out the balance.
The villas last sold together for $450,000 in 2016.
The median value price for units in <a href="/developments/southport-qld-4215">Southport</a> is $356,095, according to CoreLogic data.
RE/MAX agent Kristoffer Sonter is marketing the listing.
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Two villas in Queensland's Gold Coast listed for mortgagee auction

Luxury apartment developer Abadeen has recorded $19.25 million in apartment sales across two of its Lower North Shore developments in the lead-up to the end of the financial year, headlined by the sale of a $6.75 million penthouse at <a href="https://www.apartments.com.au/buildings/koyo-crows-nest-5-rodborough-avenue-crows-nest-nsw-2065">KOYO in Crows Nest.</a>

The transactions also included the sale of a newly completed three-bedroom apartment at <a href="https://www.apartments.com.au/buildings/park-residences-cremorne-2-sutherland-street-cremorne-nsw-2090">Park Residences in Cremorne</a> for $6.35 million, with the residence selling shortly after the project's first public inspections following completion.

The sales come as completed, owner-occupier-focused apartments continue to attract strong demand across Sydney's Lower North Shore, particularly from buyers looking for certainty and immediate occupancy.

The penthouse at KOYO spans 491 sqm across a single level and was designed by architect Koichi Takada. The development is one of Abadeen's flagship boutique projects in Crows Nest.

[smartcode_project:default project_id=108800 project_image_fid=370093]

Abadeen Executive Chairman and Founder Justin Brown said buyer activity lifted noticeably in the lead-up to the end of the financial year.

"We saw a clear increase in enquiry levels, inspection numbers and buyer engagement across our completed projects leading into the end of the financial year," Brown said.

"Buyers have become far more decisive over the past six months. The combination of improving confidence, limited supply and the ability to physically inspect completed residences is creating strong competition for premium apartments in the best locations."

Brown says the&nbsp;response to Park Residences following completion has been particularly strong.

"Buyers want certainty and are responding positively to the opportunity to walk through a finished product, inspect the quality firsthand and move in immediately," Brown suggested.

"Projects such as Park Residences and KOYO demonstrate that when the product is exceptional and the location is irreplaceable, buyers are prepared to act quickly."

[smartcode_project:default project_id=114246 project_image_fid=370116]

Abadeen CEO Joe Tack said quality continued to differentiate projects in the current market.

"Today's buyers are incredibly discerning," Tack said.

"They are seeking larger floorplans, premium finishes, walkability, lifestyle amenity and confidence in the developer delivering the project. Well-designed boutique developments continue to outperform because they offer something genuinely difficult to replace.

"The enquiry we are seeing across our completed and recently completed Lower North Shore portfolio is very encouraging, and we expect this momentum to continue into spring."

The sales follow increased enquiry across Abadeen's Lower North Shore portfolio which also includes <a href="https://www.apartments.com.au/buildings/northcote-collective-naremburn-2-northcote-street-naremburn-nsw-2065">Northcote Collective in Naremburn</a> which also completed recently.

Joel Robinson

KOYO penthouse headlines Abadeen's $19.25 million EOFY sales flurry

The City of Sydney has approved plans for <a href="https://www.apartments.com.au/developers/billbergia">Billbergia Group</a> and Metrics Credit Partners’ $3.5 billion Castlereagh Place project in the heart of the Sydney CBD

The towers will be among the tallest in <a href="https://www.apartments.com.au/developments/sydney-nsw-2000">Sydney</a>'s CBD, with more floors than any other residential tower in the city.&nbsp;

The 6,000 sqm site was acquired by the joint venture partners in 2024. It is the largest amalgamated land parcel in the Sydney CBD and comprises eight individual sites fronting Castlereagh, Pitt and Liverpool Streets.&nbsp;

<a href="https://www.apartments.com.au/new-apartments/castlereagh-place-sydney-324-348-pitt-street-sydney-nsw-2000">Castlereagh Place</a> will transform an underutilised city block into a landmark mixed-use destination, anchored by two 82-storey towers comprising 607 luxury residences above an 8-level podium housing a 209-room luxury hotel. A 1,000 square metre civic park on ground level features a curated mix of food, beverage and retail.

The plans have been refined over the past year to rebalance the residential and hotel offering, and reconfigure the retail footprint to create a stronger, more dynamic dining experience.

A three-level flagship building on the prominent corner of Pitt and Liverpool Streets will be the gateway to the Castlereagh Place lifestyle precinct. Set to become a Sydney icon, the building is capable of housing multiple hospitality venues.

“Castlereagh Place is designed to be the City's next great urban oasis - an energetic mixed-use precinct that pulses with life, day and night,"&nbsp;said Joseph Kinsella, Group Director of Billbergia.

"It will bring the vibrancy of places like Barangaroo and Darling Quarter into a more accessible, central destination at the very heart of Sydney."

Kinsella said the project will build on&nbsp;Sydney’s growing laneway culture with the City’s largest network of new activated lanes - an expanded, next-generation take on precincts like Angel Place, Palings Lane and Ash Street in Wynyard.

[smartcode_project:default project_id=134477 project_image_fid=374401]

Castlereagh Place has been designed by architects <a href="https://www.apartments.com.au/architects/fjc-studio">fjcstudio</a> in collaboration with Trias Studio, Aileen Sage and Polly Harbison Design, joint winners of an international design competition in 2018.&nbsp;

Signature design elements from the original scheme remain unchanged, while the public domain has been significantly enhanced, delivering 60 per cent more open-to-sky space.

Pedestrian access will also be enhanced through new laneways linking Pitt, Liverpool and Castlereagh Streets, drawing people into a new civic park with outdoor seating, landscaping and integrated public art.

With activated laneways supported by strong hospitality offerings, Castlereagh Place is tipped to become a vibrant new dining destination in the heart of Sydney’s CBD.

It marks the largest undertaking to date for the Billbergia and Metrics Credit Partners partnership. Together they are developing other underutilised Sydney sites into mixed-use precincts, including the $2.2 billion Concord Central and the $1.3 billion Chatswood Grand Residences.

Metrics Managing Partner and Group CEO Andrew Lockhart said Castlereagh Place is a landmark project that will redefine Sydney’s skyline.

"As the tallest residential high-rise development, the revitalised site will offer panoramic views across the CBD and surrounds. We are excited to partner with Billbergia to reinvigorate an underutilised site and create a sophisticated and contemporary mixed-use offering situated in the heart of Sydney.”

Total apartments within the towers have increased to 607 dwellings, with a focus on larger floorplans. Aligned to growing market demand, Castlereagh Place now comprises 299 three-plus-bedroom apartments, 198 two-bedroom units and 110 one-bedroom configurations.

[smartcode_project:default project_id=134477 project_image_fid=374402]

Resident amenities will include an exclusive residents club containing a gym, rooftop pool, dining rooms, co-working spaces, library, golf simulator, games room, cinema room, and access to an exclusive concierge service. There will be around 500 basement car spaces below the towers.

The development will also include a state-of-the-art wellness centre, set to feature a bathhouse with magnesium pools, hot/cold plunge pools and premium amenities.

&nbsp;

According to fjcstudio, the towers will feature distinctive yet elegant architectural design reflecting Sydney’s geometry and urban character, with a network of through-site links and intimate public spaces activating the streetscape.

"Castlereagh Place is a city-making project of significant scale and ambition," said Richard Francis-Jones, Design Director at fjcstudio.

"It will create a rich urban complex of public open spaces, landscaped gardens, and vibrant laneways. Defining these new public spaces and the important streetscape of Castlereagh Street is a sequence of fine-grained, diverse retail and hotel architecture designed in collaboration with Aileen Sage, Polly Harbison Design and Trias.

“Rising above the tree-lined, human-scale streetscape are two slender residential towers that will transform the city skyline and look towards the Harbour, Hyde Park, and the Royal Botanic Garden.”

Demolition and early construction works have commenced onsite at Castlereagh Place.

[smartcode_project_cta:default project_id=134477]

Billbergia, Metrics, approved for $3.5 billion Sydney skyscrapers

International developer&nbsp;<a href="https://www.apartments.com.au/developers/spg-land">SPG Land</a> is preparing to re-launch its long-awaited $1.5 billion <a href="https://www.apartments.com.au/new-apartments/paradiso-place-surfers-paradise-103-ferny-avenue-surfers-paradise-qld-4217">Paradiso Place</a> development at Budds Beach, bringing a new price point to the Surfers Paradise apartment market.

The developer will release one-bedroom apartments from $825,000 and two-bedroom apartments from $1.24 million in the three-tower development.

According to Urbis, the starting price for the two-bedroom apartments is more than $400,000 below the weighted average sale price for comparable two-bedroom apartments in Surfers Paradise during 2025, which was pinned at $1.7 million.

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Urbis reported quarterly average sale prices for new two-bedroom, two-bathroom apartments ranged from around $1.2 million to $1.7 million throughout 2025, peaking in the December quarter.

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Paradiso Place is now moving into its formal sales campaign, with a limited early-release opportunity available ahead of the public launch.

The development will comprise 845 apartments across three towers rising 40, 41 and 44 storeys from a 1.15-hectare site spanning an entire city block. The towers will sit above a new retail precinct.

"Paradiso Place represents a rare opportunity in today's market, offering premium apartments at a price point that is significantly more competitive than anything else currently available," SPG Land Sales Director Brad McMahon said.

"When you look at comparable new developments across Surfers Paradise, Main Beach and the Southern Beaches precinct, buyers are typically paying hundreds of thousands more for a similar product.

"The scale of this project and the developer-builder construction model allows us to unlock efficiencies that smaller developments simply cannot achieve. We are passing those benefits directly to buyers, while still delivering a five-star residential experience with an unmatched lifestyle."

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Each of the three towers designed by Rothelowman will have its own podium, connected by an elevated skybridge network to create a beachside village for residents. The resident amenity has been designed to rival a five-star hotel, with private dining rooms, resident lounges and entertainment spaces.

McMahon said the pricing strategy was a deliberate response to the current market.

"What Paradiso Place offers is a unique balance, genuine value within a premium market. Buyers are not compromising on quality, design or amenity, they are gaining access to it at a more competitive price point at a time when prices across the Gold Coast continue to reach new highs."

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Located around 100 metres from the beach and within walking distance of the Surfers Paradise North light rail station, Paradiso Place occupies one of the Gold Coast's most tightly held beachfront precincts.

Construction is continuing to progress, with eight of the project's 112 foundation piles now complete. Excavation has also commenced on the first diaphragm wall panel, with the first concrete poured on 15 June, marking a key milestone in the project's early works program.

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SPG Land launches $1.5 billion Paradiso Place at attractive price point

Luxury developer-builder <a href="https://www.apartments.com.au/developers/lowe-living">Lowe Living</a> has achieved a new Victorian benchmark for an off-the-plan apartment, with the sale of two penthouses at its ultra-exclusive Maison Savoy development in Brighton.

The two penthouses achieved a combined sale rate of $49,926 per sqm. Both transactions eclipsed the previous identified Victorian off-the-plan price-per-square-metre benchmark, set by the 449 sqm apartment at Como Toorak, which sold at $46,659 per sqm.

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<a href="https://www.apartments.com.au/new-apartments/maison-savoy-brighton-150-esplanade-brighton-vic-3186">Maison Savoy</a>, Lowe Living's redevelopment of the former Brighton Savoy Hotel on absolute beachfront land at 150 The Esplanade, Brighton, has gained significant momentum since launching just eight weeks ago. Around 30 per cent of the project's 19 residences have already been secured, generating approximately $45 million in sales.

"Securing two of the three penthouse sales at this stage, within eight weeks of launching to market speaks to the confidence our clients place in Lowe Living," Lowe Living co-founder Emma Lowe said.

"They know we'll be with them through every stage of the journey, and that assurance is something we've worked hard to earn and never take for granted."

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Lowe said Maison Savoy was conceived as a genuine alternative to a prestige Brighton home, combining house-scale proportions with the convenience, security and lock-up-and-leave appeal of apartment living.

Lowe Living co-founder Tim Lowe said the early sales success demonstrated the resilience of Melbourne's prestige market and highlighted the growing demand for house-sized apartments among ultra-high-net-worth buyers.

"The Melbourne market has definitely been tested in recent years, with interest rates and global economic factors all creating a period of uncertainty across the real estate sector. The sales success at Maison Savoy however demonstrates that confidence remains exceptionally strong at the top end of the market.

"The prestige market is being driven by long-term lifestyle decisions rather than short-term market sentiment, which continues to create a level of certainty that befits an absolute beachfront property in a blue-chip location like Brighton.

"Brighton's fundamentals remain among the strongest in Melbourne, with limited new supply, enduring demand from an overwhelmingly local owner-occupier market, and a rare combination of beachfront amenity and proximity to the CBD."

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According to Cotality, Brighton remains one of Melbourne's most tightly held prestige suburbs, with an average ownership tenure of 15.3 years for houses and 12.3 years for units, while more than 73 per cent of homes are owner-occupied.

Tim Lowe said selling two of the project's three penthouses so early in the campaign was an uncommon result.

"This sales result is a reflection of quality and understanding the local market. It's incredibly rare to transact the penthouses so early in a sales campaign in any project so to have sold two of the three penthouses at Maison Savoy so soon after launch, all in-house without any external sales agency appointed, is reflective of our careful consideration of our buyers' needs and lifestyle.

"This is knowledge that is accumulated not just from data and demographic analysis, but via a deeply embedded understanding of how this type of buyer wants to live and feel in their home. We pride ourselves on getting to know our clients personally, and over the last 10 years we have been able to refine our product offering by talking one-on-one with our clients about their design and floorplan preferences.

"Being a fully integrated developer-builder with an in-house design and sales team allows us to lead every part of the process and ensure the highest quality of product and service at every touchpoint. It's a really important part of our DNA and the recent sales success at Maison Savoy indicates that our clients and purchasers are resonating with this point of difference.

"It reinforces that demand remains strong for thoughtfully designed residences that offer rarity, lifestyle and long-term value in tightly held locations, which ultimately validates Maison Savoy's positioning as creating a new benchmark for house-scale, wellness-led apartment living on Brighton's beachfront."

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The residences at Maison Savoy start from 295 sqm, with most enjoying uninterrupted views across Port Phillip Bay. The project sits moments from the Brighton Bathing Boxes, Royal Brighton Yacht Club, Middle Brighton Baths and Church Street's retail and dining precinct.

A key feature of the development is its private residents-only bathhouse, curated by the founder of Aurora Spa &amp; Bathhouse and modelled on traditional European bathing rituals and the award-winning Sorrento bathhouse.

The wellness offering includes a hydrotherapy pool, salt room, sauna, steam room, cold plunge pool, foot activation zone and a Vichy rainfall bed, one of only a handful in Australia. Residents will also have access to a Technogym studio, lounge spaces and a dedicated concierge service offering everything from morning coffee delivery and restaurant bookings to dry cleaning and home coordination.

"Wellness-led design has become a defining factor for luxury buyers," Emma Lowe said.

"Purchasers increasingly value homes that enhance wellbeing through thoughtful design, private amenity, privacy and liveability."

The penthouse purchasers are now undertaking a bespoke customisation process curated personally by architect Pete Kennon and the Lowe Living team, one of the developer's signature service offerings.

Construction on the $160 million transformation of the former Brighton Savoy Hotel site commenced last month, with completion expected in early 2028. The project has secured funding from NAB alongside development partner Monark.

Just one penthouse remains available, along with a limited number of two and three-bedroom residences starting from $3.75 million.

Lowe Living currently has eight projects on the market across Melbourne and recently celebrated its 10th anniversary, having grown a $1 billion development pipeline alongside a $350 million construction pipeline.

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Lowe Living set new Melbourne off the plan apartment record

For more than three decades, Hyecorp has been delivering residential projects across Sydney's Lower North Shore, building a portfolio centred on design-led apartment living in some of the city's most established neighbourhoods.

Hyecorp recently launched the latest in its long line of apartment developments, Celine, a 29-storey tower on Archer Street in Chatswood. Like the majority of the developer's projects, Celine caters to a broad buyer demographic, offering a mix of one, two, three and four-bedroom apartments, all designed with owner-occupiers in mind.

Functionality and flexibility are often buzzwords in the new apartment market, but they sit at the core of Hyecorp's design philosophy.

Hyecorp Joint Managing Director Stephen Abolakian says the developer understands it isn't designing apartments for today's needs alone, but for how buyers will live several years into the future.

"When we launch our projects we need to be aware that these developments aren't finished for several years," Abolakian says.

"That home office in the here and now might be a nursery by the time the project completes for a prospective buyer, so we need to think about how the apartment spaces function for future uses so there's longevity in the ownership."

Celine's architects, Fuse, followed the same philosophy, saying the design extends well beyond aesthetics.

"Celine focuses on timeless architectural form and functionality, with a strong emphasis on light, proportion and materiality. The design responds to the urban context of Chatswood while delivering calm, highly liveable interiors that feel both contemporary and enduring. The floorplans have been carefully resolved to maximise usability and outperform typical market offerings in terms of efficiency and liveability."

Most apartments incorporate multipurpose rooms designed for flexibility. Each includes an integrated desk and a standard Murphy pull-down single bed, allowing the space to transition from a home office or study to guest accommodation as needs change. The layouts have also been designed to maximise natural light, storage and overall functionality.

One and two-bedroom apartments feature Miele appliances, while three and four-bedroom residences are appointed with integrated Gaggenau appliances and Taj Mahal stone benchtops.

Buyers who purchase early in the construction process can also take advantage of Hyecorp's "Live Your Way" interior design service, allowing them to personalise finishes and tailor elements of their home to suit their own lifestyle. It's a feature designed to appeal to owner-occupiers who want their apartment to feel uniquely theirs from the day they move in.

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While flexible floorplans have become a hallmark of Hyecorp's apartment design, the developer has also continued to place significant emphasis on resident amenity.

As buyers increasingly expect more from apartment living, shared spaces have evolved beyond a gym and barbecue area. They are now an extension of the home, providing spaces to relax, exercise, entertain and connect with neighbours.

At Celine, the resident amenity has been designed with a focus on wellness, centred on the level six podium. An infinity-edge swimming pool, spa, sauna and fully equipped gym are complemented by barbecue facilities and a residents' lounge, creating a range of spaces for relaxation, recreation and social connection above the streets of Chatswood.

Practical conveniences have also been integrated throughout the building, including EV charging provisions, smart parcel lockers, bicycle storage, a pet wash station and dedicated car wash bays, reflecting the project's focus on making everyday living as seamless as possible.

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"Celine has been designed to deliver a refined residential experience that reflects the evolution of Chatswood into a premium urban centre,"&nbsp;Abolakian says.

"With over 30 years of experience delivering projects across Sydney's Lower North Shore, Hyecorp brings a deep understanding of what local buyers value. Every detail has been considered to balance luxury, functionality and long-term liveability. This is not just about apartments, but about creating a lasting residential address for discerning buyers."

Hyecorp, vertically-integrated builder-developer, is anticipating construction commencement later this year.

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Staff reporter

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