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The auction for Sandstone Island, about 600 metres off the Mornington Peninsula coast, ended with a single bid.
The Victorian island property was passed in at $1 million.
The 22.25 hectare island is about 1 kilometre from Hastings.
It comes with two beaches, a yacht mooring and a house on it.
The Herald Sun reported a crowd of about a dozen attended the auction.
<a href="/news/vic/sandstone-island-off-mornington-peninsula-listed-for-november-auction">Pre-auction feedback</a><a href="/news/vic/sandstone-island-off-mornington-peninsula-listed-for-november-auction"></a> had ranged from $3 million to $5 million.
Five Melbourne families combined to buy the island 18 years ago.
They had tried to sell it in 2015 for about $5 million.
The island was first settled in 1854 by the Rogers family.
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j.ballantyne1990-6AQqhLzZaK

Sandstone Island passed in after auction marooned on one bid

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Lendlease has officially opened Australia’s tallest engineered timber office building, 25 King in Brisbane.
Designed and manufactured by Lendlease and sold to IIG, the ground floor plus nine-storey timber commercial tower features open and flexible office spaces.
Global engineering firm, Aurecon, has committed to 6,500 square metres on a 10-year lease and currently occupies 43.5% of the net lettable area, with IIG working with Lendlease to secure new tenants for the remaining office space.
<img src="https://www.urban.com.au/images/2018/11/22/25%20king%202.JPG" alt="">
Located in the Brisbane showgrounds precinct, Lendlease is targeting a 6 Star Green Star rating, 5 Star NABERS Energy rating and WELL Core &amp; Shell rating for the 25 King Street tower.
The building is LendLease’s fifth engineered timber building in Australia.
The 65 metre tall tower is a Queensland first and the world's largest by gross floor area.
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Australia's tallest timber office tower 25 King unveiled

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GUEST OBSERVER
Prime Minister Scott Morrison’s comments about setting migration caps to alleviate congestion pressures in in our biggest cities are an interesting response to a highly contentious issue.
There is no doubt people in Melbourne, Sydney, and Brisbane feel the liveability of their neighbourhoods and their overall city is eroding.
Rightly or wrongly, many ascribe this fact to the pace of overseas immigration.
The Federal Coalition’s proposal to involve state, territory and local governments in managing and planning Australia’s changing population was commendable since they bore most of the responsibility for providing infrastructure for their growing populations.
Immigration is only one of many complex factors at play in the growth and development of our cities and regions, and Mr Morrison has missed an opportunity to take a strategic and nuanced approach to shaping Australia’s future.
If Australia had an integrated national urban policy – something planners have been advocating for some years – we could alleviate the pressures now being felt in Sydney and elsewhere whilst ensuring that those regions which actually want more immigrants were not left behind.
As matters stand, there is no agreed vision for Australia’s future pattern of settlement, no consistent planning parameters. As well as no nationally agreed objectives on housing, employment or infrastructure.
In such a vacuum, how will the states and territories determine their population targets?
The Commonwealth’s policies and expenditure decisions have a major influence on where jobs, new housing and population growth are located, and these needed to be considered holistically.
Cutting immigration has consequences and trade-offs and these need to be explained to the Australian public.
The Australian economy is in good shape now, with strong job creation. If skilled immigration levels are cut, who is going to fill the jobs?
Or do we simply accept this constraint to our short-term economic growth?
Secondly, if the cuts continue into the medium term, then we will not have the flow of younger immigrants to balance our ageing population, which in turn threatens our long-term economic growth.
Australia needs a nationally consistent set of solutions to ensure the continued liveability and sustainability of our cites.
These include:
1) Development of a National Settlement Strategy that provides context for better targetted national taxation, investment and migration policy; informs the growth parameters to be applied to settlement strategies; and resolves roles and responsibilities associated with growth management, land use and infrastructure planning within the context of Australian federalism.
2) Infrastructure funding aligned to the National Settlement Strategy so that future Commonwealth investment and prioritisation of “growth’’ infrastructure is targetted to those areas aligned with state and territory growth strategies.
3) Appointment of a National Chief Planner by the Commonwealth with the role of coordinating policy evaluation and national settlement strategy preparation.
4) A spatial review and evaluation of Commonwealth policies, including, taxation, investment and immigration policies, to determine the effects these have on how different cities take shape and perform.
5) COAG recognition of strategic planning, which would build on the COAG Reform Council National Criteria for City Strategic Planning (2012), with an emphasis on explicit spatial outcomes and city structures which can improve the productive capacity and living conditions of our cities through more effective integration of land use and infrastructure.
6) City Deals realigned to National Settlement Strategy (including regions)
With bipartisan support, these solutions would serve us well into the future.
BRENDAN NELSON is the National President of the Planning Institute of Australia (PIA).
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Greater Commonwealth leadership needed on cities: PIA's Brendan Nelson

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A four bedroom two bathroom Jimboomba, Qld house has been listed by its mortgagee.
Located at <a href="https://www.realestate.com.au/property-house-qld-jimboomba-129949778" target="_blank">61-65 Coachwood Drive, Jimboomba</a> the home is set for auction on December 22.
Set on a 0.41 ha block the home is within walking distance of school and day care.
The 4,050 sqm is fully fenced and the home features a two car garage.
<img src="https://www.urban.com.au/images/2018/11/21/Jimbo%202.JPG" alt="">
Featuring solar power and air conditioning the home is a few minutes from a new shopping precinct.
The median sale price for a home in <a href="/developments/jimboomba-qld-4280">Jimboomba</a> is $530,000, according to CoreLogic data.
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Four bedroom Jimboomba home listed by mortgagee

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A Terrigal restaurant and apartment has been sold for $3.35 million to a Sydney-based investor.
Savills Australia’s Aaron McLean brokered the deal on behalf of the locally based vendor, achieving a rate of $5,135.85 per sqm and an initial yield of 5.15 per cent.
Located at 10 Kurrawyba Avenue Mr Mclean said “we received 66 direct enquiries for this campaign, with a total of nine offers submitted.”
“The buyer’s family regularly visits Terrigal as their favourite ‘Sydney getaway’ destination so they will use the four-bedroom apartment for family holidays, while holding on to the renowned Le Chat Noir restaurant as the retail tenant,” he said.
Last sold in 2001 the property went for $727,500 making this latest sale a 9.4% year on year increase in price.
Set on a 651 sqm block the property has a fully leased rental potential of $173,198pa net.
Situated 100m to Terrigal Beach, restaurants, cars and cafes the building holds a corner position with 58m of frontage.
<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/2018/11/21/Terrigal%202.jpg" alt="">
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Savills sells Terrigal restaurant and apartment for $3.35 million

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Victoria’s largest business park continues to grow as Salta Properties open a new $50 million building at 10 Nexus Court in Mulgrave.
Set on 8,400 sqm the brand new office development at Nexus Corporate comprises of six levels with an average floor plate of 1,600 sqm. 
Salta Properties Managing Director, Sam Tarascio, said “we are grateful to the City of Monash for supporting our long-term vision at Nexus Corporate, allowing us to see this business park come to life and deliver ongoing economic benefits to the local community.”
Large multinational companies occupy a number of tenancies at Nexus Corporate with most of the new building already occupied.
City Holdings has taen the lead tenancy with 4,485 sqm of space to house its business operations followed by Brenntag Australia (1,259sqm), Renault Australia (804sqm), Group Four Building Surveyors (804sqm), Knight Frank Australia (400sqm) and Entrust Datacard South Pacific (233sqm).
Architecturally designed by Gray Puksand, the building offers amenities that such as a rooftop futsal and basketball court, end-of-trip facilities, bike storage and 300 car spaces.
Work life at Nexus Corporate also provides access to on-site concierge services via the Equiem portal, child care facilities, health and wellness programs and a variety of cafes.
Nexus Corporate opened in 2002 and now houses more than 60,000 sqm of office space across nine buildings with a predicted end value in excess of $500 million.
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Salta Properties opens new building at Nexus Corporate

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EXPERT OBSERVATION
There is no relief for tenants looking to move over the short to medium term or for those facing lease renewals.
Over the last 12 months, Sydney’s metropolitan office vacancy rate has fallen below 5%.
The last time that happened was during the late 1980’s boom.
Moreover, the period of low vacancies has only just begun, with BIS Oxford Economics forecasting a sub-5% vacancy rate for at least three more years.
That is not good news for tenants with a short to medium term lease expiry – they will face much higher rents and limited relocation options.
Conversely, the balance of power in lease negotiations has shifted back towards building owners and will stay there for some time yet.
Sydney’s office vacancies have fallen significantly over the last two years, as moderate net absorption (underpinned by a solid NSW economic and employment growth) was met by below average completions and close to zero net additions to stock.
By the end of 2018, it is estimated the Sydney metropolitan vacancy rate will fall to 4.6%.
Sydney’s problem is on the supply side, not the demand side.
With almost nothing added to stock over the last two years, demand is starting to be constrained by a shortage of available space.
With vacancy rates a primary driver of rents, CBD prime average net stated rents have risen by over 20% since December 2016 with effective rents (taking into account leasing incentives) up by one third.
Indeed, since the post GFC cycle trough in 2009 face rentals have risen by close to 70% and around 125% in effective rent terms.
The bad news for tenants facing upcoming lease expiries is there is no relief from rising rents in sight for at least three years.
The current round of office projects underway – focused on the CBD, North Sydney, Parramatta and Eveleigh – will be easily absorbed by the market, keeping the metropolitan vacancy rate below 5% until at least 2021, with the CBD even tighter.
Low metro-wide vacancies mean there will be limited options available for CBD tenants seeking to move out of the City to avoid rising rents in the medium term.
Rents will be rising strongly in the suburban markets as well.
Building owners’ time has come within the Sydney office market and it looks set to stay that way for some time to come.
LEE WALKER is the responsible for BIS Oxford Economics's Sydney and Perth commercial forecasting studies
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The Sydney office market is facing at least three more years of low vacancies: Lee Walker

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EXPERT OBSERVATION
For years Melbourne has been renowned for its trend-setting restaurant and fashion scene, often teaching big sister Sydney a thing or two.
More recently, Melbourne’s property market has caught our eye with its striking and daring architectural designs and robust opportunities for investors.
It’s almost impossible to escape headlines declaring prices falling in housing markets in major Australian capital cities, spreading widespread concern and creating an irrational fear of residential property investment.
But all indicators point to Melbourne as a prime investment location supported by strong population growth, stable political leadership and a high level of government investment in infrastructure.
Despite on-going media reports on negative housing trends, Melbourne continues to show solid economic growth and is likely to come out of this ‘softening period’ relatively unscathed.
Melbourne has managed to counteract the alleged housing market slowdown as the city’s median house price is up 5% in the past 12 months.
According to the Real Estate Institute of Victoria (REIV), there was a 13.6% increase in the value of homes sold on the private market and an 0.6% increase in the value of those sold at auction over the past 12 months.
The good news for investors transcends stabilising house prices as 2018 has also seen a boom in population growth which has allowed Victoria to take out the number one spot this year in CommSec's "State of the States" economic rankings, outranking New South Wales for the very first time.
In fact, Victoria experienced Australia’s largest population growth between 2016 and 2017 with Melbourne experiencing the largest and fastest growth of all capital cities.
According to the Australian Bureau of Statistics, Melbourne grew by approximately 144,400 people at a growth rate of 2.7%.
This record population growth continues to fuel demand for housing maintaining an overall undersupply in the market.
It is predicted that Melbourne could become Australia’s largest city as early as 2030 with its population expecting to reach 6.1 million.
Melbourne is on the verge of overtaking Sydney as the nation’s largest city and remains a ‘safe bet’ for investors in terms of securing tenants and both rental and capital growth.
The city also has no shortage of infrastructure projects making the city desirable for new residential dwellings.
Melbourne has a larger land radius in the city centre than Sydney allowing for more development and will soon have Australia's tallest skyline, with more than 140 skyscrapers higher than 100 metres completed, planned or under construction.
The Victorian economy has arguably been the best managed State across both sides of government for decades providing a resilience unseen in other states.
The Victorian Government is committed to ongoing investment in world-class transport infrastructure including the $11 billion Metro Tunnel Metro Tunnel and the $1.75 billion Regional Rail Revival program.
The future outlook remains positive with forecast budget surpluses for the next four years provide a stable economic environment in Victoria, allowing the government to expand its ongoing investment in infrastructure.
The housing market slowdown will likely dominate the headlines for the foreseeable future, but the reality is the property market is dynamic and there are always opportunities if you know where to look.
Investors need to do their homework and seek professional advice and ensure the fundamentals are strong before leaping into an investment opportunity.
JAMES NIHILL is the Managing Director of Patrick Leo
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Tale of two cities - Melbourne set to overtake Sydney: James Nihill

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The Queen Street, Woollahra premises best remembered as the former Zigolinis cafe have been sold for $3,125,000.
It was bought by an investor who plans to open the interiors up by moving the kitchen under an exisiting development application.
It will then be leased to a new food operator.
<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/2018/11/21/Cafe2.jpg" alt="">
<a href="https://www.commercialrealestate.com.au/property/107-queen-st-woollahra-nsw-2025-2014688792" target="_blank">The 119 sqm premises</a> last sold at $2.62 million in 2013.
It has on-premises license to trader 5am to midnight, six days a week. It was offered at a $165,000 annual rental 2015.
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Queen Street coffee shop premises sold for $3,125,000

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Melbourne’s office market has been rated as Asia Pacific’s second most resilient and prepared for unexpected turns, according to a new report.
The ‘The Prepped Cities Index’ is Cushman &amp; Wakefield’s inaugural report that assesses governance and environment factors to help identify which cities are best prepared in deterring and managing against future uncertainty.
In 2018, the Victorian capital was only behind Singapore.
The Prepped Cities Index is based on eight indicators across Built Environment (Cost/Rental Volatility, Obsolescence, and Sustainability) and Governance and Environment (Governance, Terrorism, Talent, Susceptibility and Cyber Security).
These factors were used to assess 17 major business centres across the Asia Pacific.
Melbourne performed strongly across the majority of categories across both real estate and governance and environmental indicators.
This included ranking first in access to talent that is important for continuity in the event of an acute incident and third in sustainability. Melbourne also ranked strongly relative to the other cities in the indicators relating to cybersecurity and terrorism, which were drawn from the Economist Intelligence Unit’s Safe Cities Index.
However, the city missed out on the top ranking due to a lack of new quality office supply to replenish ageing stock and ongoing political changes impacting its governance rating.
Both Sydney and Melbourne illustrated Australia’s leadership in the sustainability of the built environment, ranking first and third in Asia Pacific respectively. This was assessed as the proportion of A-Grade buildings with at least a ‘very good’ LEED rating.
This sustainability ranking was achieved despite Sydney and Melbourne having the oldest average A- Grade office buildings across the Asia Pacific, however this was offset by high levels of institutional ownership and a well-developed program of building refurbishment.
Melbourne also ranked above every other city in terms of access to workers, either domestic population or attracting international staff, which supports its resilience should an acute incident occur.
Tony Crabb, Director Research, Australia and New Zealand at Cushman &amp; Wakefield, said: 
“A city’s ability to remain resilient in the face of external changes to the physical and geopolitical environment is increasingly important for real estate market participants and the population at large.
“Beyond the universal desire to provide each individual’s personal safety, the move to ensure that buildings are safe, sustainable, resilient and adaptable is being led by institutional landlords and emerging as a key criteria for investment.
“As the world’s second most livable city according to The Economist Intelligence Unit, it is no surprise that Melbourne ranks highly on The Prepped Cities Index.
“With 300,000 square metres of office space being delivered in Melbourne this may have boosted the city’s ranking even further.”
Emma Wright, National Manager, Sustainability Solutions, Australia and New Zealand at Cushman &amp; Wakefield, said: 
“Australia has demonstrated its leadership in environmental sustainability which goes well beyond the BEEC (Building Energy Efficiency Certificate) requirement for all office space advertised for sale, lease, or sub-lease (over 1,000 square metres).
“While A-Grade buildings may be older on average than other APAC locations, technology-enabled solutions and an active program of building upgrades and resource efficiency measures, are key initiatives that align with leadership in the sustainability of the built environment.
“Melbourne is particularly active in driving the sustainability agenda and is currently advancing a range of initiatives that reflects its position as a leader in the region and globally.
“This includes a firm commitment to carbon neutrality, the City Switch program which helps commercial office tenants improve energy and waste efficiency and a range of other initiatives designed to manage the environmental impact.”
Dr. Dominic Brown, Head of Research, Asia Pacific at Cushman &amp; Wakefield added:
“Given that real estate is a pillar of the regional economy, coupled with the massive amounts of investment in the built environment, the real estate industry can directly play a role in making cities better prepared for the future.”
“In the built environment, the cities that are best prepared to address unexpected events hold property assets that are modern, institutionally owned to a high degree, has a forward-looking approach to sustainability and less susceptible to pricing volatility.”
<a href="https://www.propertyobserver.com.au/images/2018/11/15/melbourne%20.jpg" target="_blank">Click here</a> to enlarge:
Chart: Preparedness Ranking for 17 major business centers in Asia Pacific 
<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/2018/11/15/melbourne%20.jpg" alt="">
Source: Cushman &amp; Wakefield Research
<a href="https://www.propertyobserver.com.au/images/2018/11/15/figure%201.jpg" target="_blank">Click here</a> to enlarge:
<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/2018/11/15/figure%201.jpg" alt="">
Source: Cushman &amp; Wakefield Research
<a href="https://www.propertyobserver.com.au/images/2018/11/15/figure%202.jpg" target="_blank">Click here</a> to enlarge:
<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/2018/11/15/figure%202.jpg" alt="">
Source: Cushman &amp; Wakefield Research
 
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Melbourne is APAC's second most resilient office market: Cushman & Wakefield

Not all apartment amenities are immediately visible.

Swimming pools, gyms, rooftop terraces and residents' lounges have long featured on buyers' wishlists, but as the way Australians live has changed, so too have the features that make apartment living more convenient.

Increasingly, buyers are placing value on the practical aspects of day-to-day life. Fast internet, EV charging, secure bike storage, flexible workspaces and parcel management are becoming just as relevant as lifestyle amenities, reflecting changing habits and expectations.

Online shopping has been one of the biggest drivers of that shift.

Australians spent a record $82.6 billion shopping online in 2025, with almost one in every four retail dollars now spent digitally, making parcel deliveries a routine part of everyday life rather than an occasional convenience.

For apartment residents, however, receiving those deliveries isn't always straightforward.

Without someone home to accept a parcel, deliveries can be redirected to a nearby Post Office, left in building foyers or common areas, or require building management to temporarily store packages. As apartment living continues to grow across Australia's cities, parcel management has become an increasingly important consideration for both residents and developers.

Australia Post's Parcel Locker network is one response to that shift.

<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/KPZ9j5FRdsQ?si=Qztc1dNP3ZvEIUhb" title="YouTube video player" width="560"></iframe>

Rather than relying on home delivery, eligible parcels can be directed to a nominated Parcel Locker, where they're securely stored until collected. Once a parcel arrives, residents receive a notification through the AusPost app or SMS and can retrieve it using a one-time code or QR code at a time that suits them.

The network has expanded to more than 1,500 locations nationwide, with Parcel Lockers positioned at Post Offices, shopping centres, supermarkets, transport hubs and, increasingly, within or alongside residential developments.

That growing presence reflects a broader change in how apartment buildings are being planned.

Developers are increasingly considering the operational side of apartment living alongside traditional lifestyle amenities. Just as secure mailrooms, bicycle storage and EV charging have become more common inclusions, parcel management is emerging as another feature that supports everyday convenience.

It also helps preserve the arrival experience within a building. Carefully designed lobbies and communal spaces can quickly become cluttered when deliveries accumulate, while secure parcel solutions reduce the likelihood of missed deliveries or parcels being left unattended.

For buyers comparing apartments, these everyday details are becoming part of the decision-making process.

Location, floorplans and finishes remain fundamental, but the features that simplify daily life are carrying greater weight than they once did. As online shopping continues to shape consumer behaviour, secure parcel delivery is increasingly becoming another amenity worth looking for.

Joel Robinson

Parcel delivery is joining the apartment amenity checklist

Inca Property Group has lodged a State Significant Development Application (SSDA) for Dawn, a 53-apartment oceanfront development overlooking Mona Vale Beach.

The proposal, at 35-39 Darley Street East, would replace an existing 18-apartment strata building with a new owner-occupier-focused development comprising 53 two and three-bedroom apartments, including nine affordable built-to-rent residences delivered under the State's infill affordable housing scheme.

Positioned on a 2,679 sqm elevated site around 280 metres from Mona Vale Beach, the development has been designed to maximise panoramic ocean views while responding to the site's sloping topography.

<a href="https://www.apartments.com.au/developers/inca-property-group">Inca Property Group</a> Managing Director Josh Thompson said the State Significant pathway provided greater certainty for projects of this scale.

"This State Significant pathway gives the team real certainty to progress <a href="https://www.apartments.com.au/new-apartments/dawn-35-39-darley-street-east-mona-vale-nsw-2103">Dawn</a> through to completion," Thompson said.

"It allows us to acquire a one-off site, design it carefully and deliver the right offering for the suburb, assessed by the NSW Government's planning department."

The project is one of the first developments in the area to be assessed under the NSW Government's Low and Mid-Rise Housing policy, with the site sitting on the edge of the policy's designated inner area.

The proposal includes three basement levels providing 124 car spaces, alongside a range of resident amenities including a swimming pool, gym, sauna, wellness facilities and private plunge pools for selected ground-floor and penthouse apartments.

<img alt="Dawn" data-entity-type="file" data-entity-uuid="fc1a1daf-0ce4-4f12-9076-b1fa553c7a91" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-07-21%20at%208.42.11%E2%80%AFAM.png?VersionId=4GZ9h.gpNkTljbxyAET8Jfhv51XUamDm" />

Thompson said Dawn had been designed specifically for owner-occupiers and downsizers, a buyer profile that has driven demand across Inca's recent Upper North Shore developments.

"The majority of buyers in our recent North Shore projects have been downsizers, and we are learning exactly what this market is looking for. Beyond the location itself, we have included resort-style amenities to deliver a genuine lifestyle offering," Thompson said.

Located within walking distance of Mona Vale Beach, the town centre, Mona Vale Golf Club and the Royal Motor Yacht Club, Dawn represents Inca's first Northern Beaches project following the sell-out of Tara on Park in Waitara and Ellis Residences, currently under construction in St Ives.

Construction will be undertaken by Inca's in-house construction arm, GOP Constructions.

Dawn is the latest major apartment proposal for Mona Vale, with the suburb emerging as one of the key beneficiaries of the NSW Government's new Low and Mid-Rise Housing policy.

New developer One Living, led by industry veteran Joseph Scuderi, recently secured a site on Mona Vale Road, on the border of Mona Vale and Pymble, where it is planning around 140 apartments.

IPM is also planning its third project in Mona Vale, significantly increasing the scale of its previous developments with an 82-apartment proposal at <a href="https://www.apartments.com.au/new-apartments/159-167-darley-street-west-mona-vale-nsw-2103">159-167 Darley Street West</a>, opposite Bayview Golf Course and less than 800 metres from Mona Vale town centre.

Read more:&nbsp;<a href="https://www.apartments.com.au/news/nsw/one-living-enters-sydneys-new-apartment-market-with-northern-beaches-site-acquisition">One Living enters Sydney's new apartment market with Northern Beaches site acquisition</a>

Read more:&nbsp;<a href="https://www.apartments.com.au/news/nsw/first-look-ipm-plans-third-mona-vale-project">First look: IPM plans third Mona Vale project</a>

First look: Inca eyes Mona Vale with State Significant DA for Dawn apartments

Seasoned Victorian apartment developer <a href="https://www.apartments.com.au/developers/central-equity">Central Equity</a> has logged more than $400 million in sales in its luxury apartment project Palmera Residences at Northcliffe on the Gold Coast.&nbsp;

Central Equity Director Karl Kutner said the sales result reflected a combination of location, product quality and delivery certainty with the project already under construction by building powerhouse Multiplex.&nbsp;

"Surpassing $400 million in sales since launch is a significant milestone and an outstanding endorsement of <a href="https://www.apartments.com.au/new-apartments/palmera-residences-gold-coast-18-garfield-terrace-surfers-paradise-qld-4217">Palmera Residences</a>,” he said.&nbsp;

"We believe one of the key reasons for this strong result is the confidence purchasers have in knowing the project is under construction with Multiplex. Buyers are increasingly looking for certainty. They want to know that the project they commit to today will be delivered by an experienced team with a proven track record."&nbsp;

[smartcode_project:default project_id=108274 project_image_fid=365782]

Kutner said it was clear there was still high demand for luxury projects that offered certainty of delivery.&nbsp;

“We are in a market where many residential developments have faced delays due to rising construction costs, labour shortages and financing challenges,” said Kutner.&nbsp;

"But having construction underway has provided our buyers with resounding confidence backed by more than 40 years of development delivery by Central Equity combined with construction by one of Australia's most respected construction companies."&nbsp;

[smartcode_project:default project_id=108274 project_image_fid=365785]

Central Equity is one of Australia's most experienced privately-owned property developers. Over more than four decades, the company has delivered in excess of 85 residential developments including 10,000 apartments and many thousands of stand alone homes.&nbsp;

Located on Garfield Terrace at Northcliffe, between Surfers Paradise and Broadbeach, Palmera Residences occupies one of the Gold Coast's most sought after beachside locations. The development has been designed to appeal to owner occupiers seeking premium residences that combine generous living spaces and resort style amenities.&nbsp;

Palmera Residences will feature an exceptional collection of resort style amenities, including two swimming pools: a generously sized family pool with safe shallow zones for relaxed recreation, and a 20 metre lap pool positioned to maximise all day sunlight.&nbsp;

Residents will also enjoy exclusive access to wellness and recreational facilities including a magnesium pool, sauna, yoga studio, expansive fitted gymnasium, resident lounge, outdoor BBQ’s&nbsp;and indoor and outdoor dining areas, together with a dedicated concierge and luxurious hotel inspired entrance foyer.&nbsp;

[smartcode_project:default project_id=108274 project_image_fid=365767]

A unique feature at Palmera Residences has been designed to enhance the Gold Coast lifestyle which includes both indoor and outdoor gymnasium facilities, together with thoughtfully designed indoor and outdoor dining and entertaining areas. A corner café has also been incorporated to provide residents with a destination for their everyday needs.&nbsp;

Kutner said buyer demand had been broad based with purchasers attracted from interstate as well as throughout South East Queensland.&nbsp;

"We're seeing strong interest from owner occupiers, lifestyle buyers and people relocating to the Gold Coast. Many purchasers have been searching for a premium beachside residence where quality, design and delivery are equally important."&nbsp;

[smartcode_project:default project_id=108274 project_image_fid=365771]

Kutner said the sales milestone was an important achievement, but the focus remained firmly on delivering an exceptional development.&nbsp;

"While reaching $400 million in sales is an important milestone, our priority remains delivering a project that exceeds purchaser expectations,” he said.&nbsp;

"Palmera Residences has been designed to become one of the Gold Coast's landmark residential addresses, and we look forward to welcoming our purchasers to their new homes."&nbsp;

There are a limited number of residences remaining in selected configurations with pricing from $2,950,000 to $8,950,000. Palmera Residences is also crowned by expansive penthouses with wrap around views.

[smartcode_project_cta:default project_id=108274]

Construction certainty and strong buyer demand drive major sales result for luxury Gold Coast development

Palmera Residences fly out the door as sales pass $400 million

National property developer <a href="https://www.apartments.com.au/developers/goldfields-group">Goldfields</a> has appointed BINAH as its construction partner for Quartet, its new Brisbane apartment development in the undersupplied suburb of <a href="https://www.apartments.com.au/developments/milton-qld-4064">Milton</a>.

Located just two kilometres from the Brisbane CBD and moments from key 2032 Olympic precincts, <a href="https://www.apartments.com.au/new-apartments/quartet-milton-33-manning-street-milton-qld-4064">Quartet</a> will deliver 131 one, two, three, and four-bedroom apartments priced from $1 million to $4.2 million, combining elevated design with a wellness-focused lifestyle offering.&nbsp;

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Goldfields’ Chief Executive Officer, Lachlan Thompson, said the appointment of <a href="https://www.apartments.com.au/builders/binah-constructions">BINAH</a> marked an important milestone for the project.&nbsp;

“Bringing BINAH on board as our construction partner will allow us to bring our vision for Quartet forward with a team that has a proven track record of delivering high-quality residential projects,” Thompson said.&nbsp;

“We’ve taken a considered approach to progressing the site because we wanted to deliver the whole package. Buyers ultimately back great developers, great projects and great builders, and with Quartet, we’ve made sure all three line up.

“People want certainty, they want to know the project will be built, that the homes will be delivered as promised, and that the developer stands behind the quality of what they create. That’s something Goldfields has built its reputation on over many years.”&nbsp;

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BINAH’s Managing Director, Khalil Hafza, said the company was proud to be partnering with Goldfields to deliver Quartet.&nbsp;

“Quartet is an exciting project to bring to life, particularly given the level of detail in the residences and the extensive rooftop amenity planned for the building,” Mr Hafza said.&nbsp;

“Our focus is on delivering a high-quality build that brings that design vision to life and creates homes residents will enjoy for many years.”&nbsp;

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The facilities at Quartet have been feared towards the roof, with a&nbsp;25 metre lap pool, spa, sauna and cold plunge, and a communal barbecue area and alfresco.

Town planning was designed by <a href="https://www.apartments.com.au/architects/rothelowman">Rothelowman</a> and brought to life by Melbourne-based architecture firm Cera Stribley.

<a href="https://www.apartments.com.au/interior-designers/cera-stribley">Cera Stribley</a> Co-Founder and Managing Principal, Dom Cerantonio, said the project responds to both its riverside setting and Brisbane’s evolving urban character.&nbsp;

“Quartet has been designed to sit comfortably within its riverside context, offering a refined take on urban living through well-planned, generously proportioned residences that will stand the test of time,” Mr Cerantonio said.&nbsp;

“An emphasis on natural light, natural textures and carefully selected finishes from timber and marble to premium appliances, creates calm, considered interiors designed for comfort and long-term liveability.”&nbsp;

Construction of Quartet will commence in July 2026, with completion anticipated in Q4 2028.

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Construction to commence on 131-residence tower designed around wellness-focused living

Goldfields appoints BINAH for Quartet apartments in Milton

The first partnership between national developer <a href="https://www.apartments.com.au/developers/fortis">Fortis</a> and Adelaide-based developer <a href="https://www.apartments.com.au/developers/otello">Otello</a> has made a strong start, with the pair securing $21 million in unconditional sales at <a href="https://www.apartments.com.au/new-apartments/one-four-four-hutt-adelaide-144-hutt-street-adelaide-sa-5000">One Four Four Hutt</a>&nbsp;on the edge of the Adelaide CBD.

Over a third of apartments have been snapped up in the boutique 44-apartment project on the corner of Hutt Stret and Wakefield Road. Local downsizers and owner-occupiers wanting to remain in Adelaide's tightly-held southeast quarter have been the most prominent purchasers.

The DKO-designed, mixed-use development is one of the few new apartment projects in the precinct, an area where new housing supply has remained limited despite continued demand from buyers wanting to stay close to the CBD, Victoria Park and Adelaide's established east-end amenities.

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Fortis Head of Development SA Arthur Dendrinos said the early sales reflected both the strength of the local owner-occupier market and confidence in the Hutt Street location.

"The level of early commitment reflects the confidence local buyers have in the Hutt Street precinct," Dendrinos said.

"Many purchasers are long-term east-end residents who love the area and want to stay connected to the neighbourhood. They recognise the value of a well-designed, well-located development.

"Our partnership with Otello has been central to this success, and the number of unconditional sales at this stage only strengthens our confidence in the South Australian market."

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Otello Director Daniel Harris said the sales result also highlighted the lack of new apartment opportunities within the Hutt Street precinct.

"One Four Four Hutt has clearly resonated with buyers, with strong early sales reflecting both the appeal of the Hutt Street corridor and the lifestyle on offer," Harris said.

"The activated ground-floor retail has also been a key drawcard, with purchasers responding to the vision of a more vibrant and connected streetscape, not just the residences themselves."

One Four Four Hutt will deliver 44 one, two and three-bedroom apartments, alongside a collection of penthouses, above a ground-floor retail offering designed to further activate the Hutt Street precinct.

Construction is scheduled to commence in the third quarter of this year, with completion anticipated in 2028.

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Fortis Head of Development SA Arthur Dendrinos said the early sales reflected both the strength of the local owner-occupier market and confidence in the Hutt Street location.

Staff reporter

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