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A Chinese investor has fought off a number of local rivals to secure a Hawthorn office building for $9.85 million.
It was on a tight 4.78% yield through CBRE.
Some four parties put in 108 bids as the price raced past the former record to post a new building rate record for the area of $13,979 a square metre.
The previous record had been the $10,578 a square metre paid for 1 Oxley Road in May. 
Located directly across the road from Swinburne University, the recently refurbished 500 Burwood Road property comprises 714 square metres of office space over two levels on a 1998 square metre site, including 21 car spaces and rear access.
It was sold fully leased to long standing tenant, Australian design and construction company Qanstruct, on an eight year lease at gross annual rental of $500,000.
The former Congregational Church proved to be a big attraction for the successful buyer.
The vendor was Qanstruct MD Mark Ruff.
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j.ballantyne1990-6AQqhLzZaK

Chinese buyer pays $9.85 million for Hawthorn office

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A local private purchaser has snapped up four adjoining terrace houses in Melbourne's Cremorne.
There was a strong contest between owner-occupiers and developers for 102-106 Stephenson Street.
It sold under the hammer for $7.1 million after bidding started from $6,300,000.
Four adjoining property owners joined forces to sell their properties as one large, 546 square metre Commercial 2 zoned development site.
The eventual land rate of $13,003 per square metre sets a new benchmark for Cremorne commercial development opportunities, Colliers suggested. 
Land values in the prime city fringe hot spots of Richmond and Cremorne, as well as nearby Collingwood and Abbotsford, have almost doubled in the last two years, from circa $5,000-$7,000 per square metre two years ago to north of $11,000 per square metre for Commercial 2 zoned land.
A nearby permit-approved, 1,579 square metre corner site at 71-93 Gipps Street in Collingwood has already attracted more than 100 enquiries and interest in the vicinity of $17 million.
It is an immediate development prospect for an 11 level, Hayball-designed office project.
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Four Cremorne neighbours combine to secure $7.1 million

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<div>
Westpac has denied an AFR report it is giving risky property investors less than a month to find another lender.
The bank is alleged to be sending a single-page letter to investors warning it can "no longer support our commercial relationship with you."
Victor Kumar, a director of Right Property Group, a buyers' agency, reportedly has seen the letter sent to property investors.
The letter informs borrowers that Westpac is a responsible lender.
Martin North, principal of Digital Finance Analytics, has reportedly been in contact with borrowers who have received the letter.
</div>
<div>
Westpac denied the claims. 
Initially Westpac said it was attempting to locate the letter and declined to comment.
"We don't support the claims made regarding the Westpac customer communications," a spokesman later told the AFR.
"Based on the limited information we have been provided, the statements made are incorrect."
As banks are forensically examining their lending books, the Westpac letters are reportedly being sent to interest-only borrowers with multiple properties and high loan-to-value ratios, usually 80 per cent or above.
The investors, who often have up to six properties, have been told they have until October 20 – or less than a month – to find a new lender.
</div>
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Westpac denies risky property investors are being given one month to find alternate finance

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Multiple office suites spanning the whole floor of a strata titled building near Westfield in Sydney's CBD are now available for lease.
They are available to be leased either individually or interconnected through Ray White Commercial South Sydney and Henderson &amp; Horning.
The property at Level 1, 155 King Street, Sydney known as The Trust Building and formerly The Daily Telegraph building, is being marketed by Ray White Commercial's John Skufris and Henderson &amp; Horning's Will Mulvihill on behalf of a private owner with asking rents from $900 psm pa.
Retailers including Cartier, Chanel and Christian Dior surround the site with Hermes also reportedly relocating to the building.
Mr Skufris said, level 1, 155 King Street, Sydney comprises approximately 500sqm which was suitable for legal/accounting firms, medicos and jewellers.
The Trust Building was built in Interwar Commercial Palazzo style circa 1914.
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Strata office suites now leasing in Sydney CBD

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Australian RMBS delinquency rates will rise moderately over coming quarters, with high debt levels and higher interest rates putting pressure on mortgage borrowers, according to the latest RMBS report from Moody's.
This is despite delinquency rates being broadly stable over the three months ended 30 June 2018.
The 30+ day delinquency rate for prime RMBS was 1.52% in June 2018, compared with 1.5% in March 2018 and 1.6% in June 2017.
<img src="https://www.urban.com.au/images/2018/9/24/RMBS%20Moodys.JPG" alt="">
For prime RMBS issued by major banks, the 30+ day delinquency rate was 1.58% in June 2018 compared with 1.57% in March.
For regional banks, it remained flat at 1.99%, while for prime RMBS issued by other authorised deposit-taking institutions, the delinquency rate was 0.57% in June, compared with 0.51% in March.
The 30+ day delinquency rate for non-conforming RMBS was 3.16% in June 2018, compared with 3.05% in March 2018 and 3.41% in June 2017.
Moody's noted, "over coming quarters, we expect delinquencies to increases moderately, given Australia's record-high household debt, which amounts to 190% of annual gross disposable income."
High debt increases the risk of delinquencies, especially in a rising interest rate environment.
The report stated, "in late August and September, a number of Australia's major banks raised home loan interest rates, though we do not expect this round of rate rises to result in a significant increase in mortgage delinquencies, given that labour market conditions remain favourable and the rate increases were small compared with buffers built into home loan serviceability assessments."
A large number of interest-only mortgages are due to convert to principal and interest loans over the next two years, which will contribute to an increase in delinquencies over this period, according to Moody's data.
Banks originated a significant volume of interest-only loans in 2014 and 2015.
The five year interest-only period for these mortgages will end in 2019 and 2020.
The report also stated, "when interest-only loans convert to principal and interest, borrowers have to make higher monthly repayments, which can lead to delinquencies."
"On the positive side, economic and labour market conditions in Australia will continue to support borrowers’ ability to meet mortgage repayments over the next year, meaning that the increase in delinquencies will be moderate," they suggested.
Moody's forecasts real GDP growth of around 2.9% for calendar 2018 and 3% for 2019.
Australia's unemployment rate was 5.4% in June and we expect it will remain relatively stable at 5.6% by the end of 2018 and 5.5% at the end of 2019
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Australian RMBS home loan delinquencies to rise moderately over 2018: Moody's

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EXPERT OBSERVER
Yet another new Prime Minister in Canberra. Does this mean it’s time to check our smoke alarms? It’d be comical if it wasn’t so concerning.
The frequent changes in leadership and constant mud-slinging through the media, many people tune out of daily political news.
As prices fall in markets across the country, tuning out of politics is simply not an option for the astute property owner with much at stake in the coming election.
Ignoring Canberra and its politics can be a costly mistake as the various proposed policy changes from both the Australian Labor Party (ALP) and The Liberal Party of Australia (Liberal) camps will make a huge impact on our property landscape – affecting home-owners and investors.
The ALP unleashed a media storm when it burst out of the policy box and promised to abolish negative gearing for all properties except new housing – with a tidal wave of opposition among the investment community.
Any property owner should be very concerned about this proposal and its impact on prices.
There has been considerably less attention to other significant property-related policies that ALP has tabled such as increasing capital gains tax – which could have a monumental impact on all property sales.
Liberal’s policies have been deemed more investor-friendly – particularly keeping negative gearing in its current form and just removing travel expenses as a deduction.
A policy already implemented. So what is best for property investors – ALP or Liberal policy? There is no blanket solution and what is best will vary depending on each individual investor’s age, retirement plans and financial position.
One thing is clear – if Labor implements its new negative gearing regime – the winner will be the new housing market as any investor wanting to minimise their tax burden will snap up to new developments - new houses and new apartments.
Conversely investment in existing properties will take a nosedive as it will be far less appealing with no negative gearing benefits.
Prime Minister Scott Morrison has this week foreshadowed a “housing market crash” as a likely result of Labor’s property policies including abolishing negative gearing and halving the 50 per cent capital gains tax discount.
With an election due by the end of May next year property investors will have greater certainty about any changes to the market.
In the meantime it’s important to continue to monitor what is coming out Canberra to ensure investors are best placed to protect and grow their portfolio.
Keeping up-to-date with the proposed changes is a minefield but is best summarised in this table.
<img src="https://www.urban.com.au/images/2018/9/20/Nihilism%20table.JPG" alt="">
James Nihill (pictured above) is the Managing Director at the real estate agency Patrick Leo
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Politics of property, What does it mean for property owners: James Nihill

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The Leaf House, the Damian Rogers-designed Williamstown home that blends the 1890s Victorian with a bold extension, has sold for $2.55 million.
The striking home at <a href="https://www.realestate.com.au/sold/property-house-vic-williamstown-129161194" target="_blank">17 Courtis Street</a> had a guide of $2 million to $2.2 million through RT Edgar Williamstown agents Joanne Royston and Sam Wilson.
The Leaf House, named for its butterfly like extension, was listed by creative couple, photographer Andrew O’Toole and his celebrity hair and make-up artist wife Kylie.
<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/2018/9/24/leaf1.jpg" alt="">
The home with interior design by local designer Jessica Bettenay, has featured in the Victorian Architecture Awards, Inside Out Magazine and magazines in the UK.
Each of the three bedroom offer different features.
The first has its own study and a walk in wardrobe conceleaed behind a feature wall.
<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/2018/9/24/leaf3.jpg" alt="">
The second bedroom has its own reading loft while the master bedroom comes complete with skylights, a concealed walk in robe, a bespoke bathroom with hand-made stone egg bath and an upstairs private studio.
The kitchen and living area with Falcon cast iron oven and cooktop sees another concealed room, a home office, as well as an open fireplace and exposed aggregate concrete floor.
The dining room opens to an alfresco courtyard, which is linked to another courtyard by a pond. Stairs lead to a rooftop garden with four wicking garden beds and a private deck.
 
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Williamstown's The Leaf House soars at auction 

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Australia remains a favoured hotel investment market due to its economic performance, stability, transparency and governance, Gus Moors, Colliers International’s Head of Hotels, says.
“With more than $1 billion worth of hotel assets currently being marketed or in play, we expect transaction activity to increase in FYE2019.”
Colliers International’s Capital Markets Hotel Investment Review found Australian hotel transaction activity slowed in FYE2018, with volumes easing to $1.34billion after a record three years.
Deal flow increased, however, with 35 transactions above $10 million concluding throughout the year. This compares to 30 transactions in FYE2017. In New South Wales, $350 million worth of hotel assets changed hands, followed by Queensland ($347 million) and Victoria ($343 million).
Australian investors accounted for 63.7% of asset trades in FYE2018, considerably higher than the 16.5% recorded in FYE2017.
Investors from Mainland China fell behind the rest of Asia as one of the more dominant sources of inbound capital, accounting for only 1% of transactions over the year, as capital restrictions continued to bite.
“This trend is likely to continue, with South East Asian investors dominating the offshore investment landscape driven by renewed interest in diversification, both in terms of location and product,” Mr Moors said. “
Colliers International found that for the first time for more than a decade, the number of rooms opening throughout the year surpassed the number traded with investors focused on the development of new rooms.
In FYE2018, almost 6,500 new rooms came on line in the ten major markets with an estimated value of more than $2 billion.
Colliers International estimates there is a weighted accommodation pipeline of around 27,000 rooms across Australia, with almost half of these new rooms currently under construction and 7,000 rooms proposed.
These are thought likely to commence construction in the next six months or are government mandated projects.
“All markets, except for Darwin and the Gold Coast, are seeing an accelerated pipeline with openings expected to peak in 2019 and 2020,” Ms Wales said.
“Development activity is greatest in Hobart, Melbourne, Adelaide and Perth with increases set to expand the existing supply base by more than one third.”
Mr Moors said tourism was becoming increasingly important as Australia transitions to a more diversified service-based economy, and had the potential to be Australia’s fastest growing industry.
“Globally, travel continues to take a larger share of consumer spending and visitor expenditure in Australia is projected to continue to grow at a strong rate,” he said.
“The influence of demographics presents new opportunities for the hotel sector, as developers and brands seek to remain ahead of the curve in catering to both established and emerging generations of corporate employees and leisure travelers.
He concluded by noting, "strong growth in inbound tourism, particularly from China, increased leisure travel by wealthy retiring baby boomers and catering to Millennials as the largest segment of the workforce are all factors which investors should consider over the coming year.”
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Investment in Australian hotels on the rise in 2018: Colliers International

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<div>All nine commercial tenancies at the new beachside development, The Hedge at Buddina, have sold for $5 million to local investment group, Sunshine Coast Private Commercial.</div>
<div> </div>
<div>Off Market Real Estate principal Chris Cameron who negotiated the sale said the development’s commercial precinct had drawn a flood of local and intestate interest.</div>
<div> </div>
<div>He said, “its exceptional quality and proximity to schools, bus links, major shopping and professional services including the $2 billion Kawana Health precinct make it an excellent investment.”</div>
<div> </div>
<div>The majority of the nine tenancies include an outdoor terrace area and range in size from 47 sqm to 74 sqm.</div>
<div> </div>
<div>“Rising economic confidence for the region is pushing up residential sales, and on the back of that the commercial sector is performing well,’’ Mr Cameron said.</div>
<div> </div>
<div>When completed, The Hedge at Buddina located at 5 Bermagui Crescent, Buddina, will offer 97 apartments presenting a floor area up to 158 sqm over five storeys.</div>
<div> </div>
<div>It is located an hour north of Brisbane by road.</div>
<div> </div>
<div>The Hedge at Buddina benefits from a regional development strategy unfolding over the next two decades which will see the economy triple to $33 billion, the creation of 100,000 new jobs in high end industries and household incomes exceeding the Queensland average.</div>
<div> </div>
<div><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/2018/9/19/Kawana.jpg" alt=""></div>
<div> </div>
<div>The project adjoins the newly upgraded Kawana Shopping world (pictured above) which has been earmarked for further major improvements in the near future including a Gold Class cinema complex and new specialty shops.</div>
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The Hedge at Buddina commercial tenancies sell for $5 million

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EXPERT OBSERVER
Can e-scooters solve the 'last mile' problem? They'll need to avoid the fate of dockless bikes.
As urban planners, we have not been good at integrating land uses, such as homes, shops and offices, with our transport infrastructure. Thus many people find the nearest train or bus stop is too far too walk and too close to drive (even if they could be sure of finding parking). This has created what is commonly known as the “last mile” problem.
In some Australian cities, hilliness and hot summers add to this problem. The consequences for people’s work commute are obvious. In the end, many people find it’s simplest to drive to and from work.
Over the past 12 months, something new has been promoted as the solution to the last mile problem. Shared e-scooters are <a href="https://www.theaustralian.com.au/national-affairs/state-politics/dockless-scooters-are-coming-but-may-push-their-luck-with-the-law/news-story/a9f588609ec0c0688e93b2ea7d16a5d6" target="_blank">reportedly on their way to Australia</a>. Powered by a rechargeable battery, these are dockless, have a range of 20-60 kilometres per charge and a top speed of 24 kilometres per hour.
Businesses on the move
The two main e-scooter companies, Lime and Bird, have attracted the most interest. Several other smaller companies have entered the e-scooter market this year, including Scoot, Skip and Spin.
While both are new ventures, Bird and Lime have raised considerable funding in a short time.
Bird (whose scooters are pictured above), founded by a former Uber executive late last year, has a <a href="https://www.businessinsider.com.au/scooter-startup-bird-raises-400-million-in-4-months-rockets-to-2-billion-valuation-2018-6?r=US&amp;IR=T" target="_blank">market valuation of US$2 billion after raising US$400 million</a> in venture capital over the past four months. Bird has e-scooters in <a href="https://www.bird.co/" target="_blank">74 US cities, Windsor (Canada), Tel Aviv and Paris, as well as on 22 university campuses</a>.
Lime was founded in January 2017 as a bikeshare business, but has branched out to e-bikes and e-scooters in the past six months. It operates in <a href="https://www.li.me/locations" target="_blank">49 US cities and seven European cities, as well as on 20 university campuses</a>, although e-scooters have not been deployed at all locations. A group of investors including Uber recently <a href="https://www.cnet.com/news/google-and-uber-invest-335-million-in-lime-scooters/" target="_blank">put US$335 million into Lime</a>, which is valued at US$1.1 billion.
Some believe Uber will buy Lime as a step in its quest to build a multi-modal transport platform that provides car, bicycle and scooter sharing services.
What’s the appeal of e-scooters?
Uber is interested in e-scooters and e-bicycles because <a href="https://www.washingtonpost.com/news/dr-gridlock/wp/2018/07/25/a-new-study-says-services-like-uberpool-are-making-traffic-worse/" target="_blank">many of its ridesharing trips are short ones</a> that could be made by e-scooters.
If Uber could shift its short-distance passengers from cars to e-scooters, it would be able to use fewer drivers and reduce operating costs. The remaining drivers would be transporting passengers over longer distances for higher fares.
Shared e-scooters provide a number of advantages over shared e-bikes. The rider can stand up which, for office workers, means no wrinkling of clothes. The posture is also easier for women wearing skirts and dresses.
Scooters are also easier than bicycles to manoeuvre along narrow paths. In some places, e-scooters are not subject to helmet requirements (unlike bicycles).
How to avoid the fate of dock-less bikes
E-scooters are not without some disadvantages. Because they are dockless, they tend to litter footpaths, parks and even rivers.
This is similar to the problems presented by dockless share bikes. A number of dockless bike share companies have been forced to withdraw services in Australia because of this.
Many communities lack appropriate means of regulating them. The question of whether e-scooters should be allowed on footpaths or only on roads and bike paths remains unanswered. (Given that they have a top speed of 24km/h, e-scooters travelling on footpaths pose a safety concern.)
Lime and Bird have tried to deal with these problems. For example, Bird has committed to a <a href="https://www.bird.co/sos-pledge-mar272018" target="_blank">Save our Sidewalks (SOS)</a> pledge and has encouraged other e-scooter share companies to do the same. The pledge has three components:
<ul>
<li>daily pick-ups of e-scooters every evening and redeployment the next day</li>
<li>responsible growth in the number of scooters deployed based on actual usage</li>
<li>revenue sharing of US$1 per scooter per day with host cities for the purposes of building and maintaining bike lanes and promoting safe riding.</li>
</ul>
Adopting an Uber idea, Lime pays for people to collect and charge the scooters each night.
While we have no e-scooter share systems in Australia yet, both Lime and Bird are reportedly <a href="https://www.news.com.au/finance/business/other-industries/if-youre-celebrating-the-end-of-obikes-be-prepared-for-something-much-worse/news-story/4ee06f9d00c124654611b42795a500a9" target="_blank">looking to launch here soon</a>. How will they fare? Are Australian cities prepared for them?
Neil Sipe, Professor of Urban and Regional Planning, The University of Queensland and Dorina Pojani, Senior Lecturer in Urban Planning, The University of Queensland
This article is republished from The Conversation under a Creative Commons license. 
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Can e-scooters avoid the fate of dock-less bikes

An entity directed by HSN's Rafi Assouline and Rebel Property's Allen Linz has filed plans for an impressive new precinct in Woolloomooloo.

The major mixed-use development would transform a prominent William Street site into a new residential village anchored by affordable housing and a large public park.

The proposal, submitted as a State Significant Development Application, covers 164-172 and 174-194 William Street, a 6,398 sqm site between Forbes Street and Dowling Street on the southern edge of Woolloomooloo.

Designed by fjcstudio in collaboration with Bangawarra, Studio Bright and Tribe Studio Architects, the scheme would deliver 227 apartments across four residential buildings ranging in height up to 18 storeys, alongside retail space, public domain improvements and a new publicly accessible park.

<img alt="Rebel" data-entity-type="file" data-entity-uuid="0eb59b7c-914a-4a5c-b849-3a56749f5e93" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-06-12%20at%2011.18.51%E2%80%AFAM.png?VersionId=mxM6EEqeoLjrCiTlCzTKTvzpKuh6kSkH" />

It's another design scheme for Rebel, who took <a href="https://www.apartments.com.au/news/nsw/first-look-rebel-property-group-takes-woolloomooloo-precinct-to-nsw-government">concept plans to the NSW Gov late last year</a>.

The latest plans will be a mix of 167 build-to-sell apartments and 60 affordable apartments, with the affordable housing component representing 15 per cent of the project's gross floor area. The apartment mix includes 12 one-bedroom, 53 two-bedroom, 89 three-bedroom apartments and 13 penthouses, while the affordable housing component would comprise 42 one-bedroom and 18 two-bedroom apartments.

<img alt="Rebel" data-entity-type="file" data-entity-uuid="3b3d4553-8a8c-4af5-aa8c-519ffb1e28c6" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-06-12%20at%2011.20.12%E2%80%AFAM.png?VersionId=_Yb6ibN7eDnOtQjCNDK2eviORa4qzgv." />

Rebel Property is seeking to take advantage of the NSW Government's infill affordable housing bonus provisions under the Housing SEPP, which provide additional floor space and height in exchange for the delivery of affordable housing for a minimum of 15 years. The planning pathway allows a 30 per cent increase in floor space ratio and building height where 15 per cent of the development is dedicated to affordable housing.

&nbsp;

At the centre of the development is a 1,356 sqm sunlit public park designed to become a new community gathering space at the gateway to Woolloomooloo. The park would be complemented by a network of pedestrian laneways connecting William Street with the surrounding streets, improving permeability through what is currently a largely impermeable block.

<img alt="Rebel" data-entity-type="file" data-entity-uuid="257af931-a393-4007-8c6d-7219796df58d" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-06-12%20at%2011.20.51%E2%80%AFAM.png?VersionId=KAHy94GrhaReFsWTGDKfy39EDJ8gEEv4" />

The design team says the public domain has been heavily influenced by the site's topography and Aboriginal cultural heritage, drawing on the escarpments, gullies and landscape characteristics that historically defined the area before urbanisation. The landscape design has been developed in partnership with First Nations consultancy Bangawarra.

The project would be delivered across four separate buildings. The William Street East and William Street West buildings, designed by fjcstudio, would contain the majority of the apartments. Melbourne-based Studio Bright has designed the Forbes Street building, while Tribe Studio Architects is responsible for the Dowling Street building.

Rebel had secured approval for the concept plans late last year.

Joel Robinson

First look: HSN, Rebel, advances Woolloomooloo precinct plans

A locally heritage-listed furniture showroom on Water Street is set to become the centrepiece of a new mixed-use residential development as local developer&nbsp;<a href="https://www.apartments.com.au/developers/keylin-group">Keylin</a> seeks approval for <a href="https://www.apartments.com.au/new-apartments/lotus-on-water-street-290-water-street-fortitude-valley-qld-4006">Lotus on Water Street</a>, a 15-storey project on the Fortitude Valley side of Spring Hill.

The proposal spans 290 Water Street and 137-141 Warry Street, combining several properties into a 2,869 sqm site that sits between Fortitude Valley, Spring Hill and the rapidly evolving Victoria Park precinct. Keylin's plans would deliver 132 apartments alongside new retail, hospitality and commercial space, while retaining and repurposing the historic Brunswick Home Furnishers Showroom that fronts Water Street.

Designed by <a href="https://www.apartments.com.au/architects/jackson-teece">Jackson Teece</a>, Lotus on Water Street comprises a 12-storey residential tower rising above a three-storey podium and communal rooftop terrace. The development includes 76 apartments classified as multiple dwellings and a further 56 units proposed as short-term accommodation, designed to be flexibly used as either accommodation or permanent residences. The apartment mix comprises six one-bedroom, 54 two-bedroom and 16 three-bedroom homes.

<img alt="First look: Keylin unveils heritage-led Lotus on Water Street tower in Fortitude Valley" data-entity-type="file" data-entity-uuid="9822bb79-6c49-49c9-95ba-319e8c8d81c3" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/fortitude%20valley%20front.png?VersionId=ioW8zbN4UVebbLetTFuv92t.HkdgfR5e" />

Residents would have access to an extensive rooftop recreation level spanning more than 1,200 sqm of communal open space. Plans include a pool, gym, sauna, infrared sauna, yoga area, library, private dining room, barbecue facilities and landscaped entertainment spaces, making the rooftop the project's largest shared amenity offering.

At street level, the proposal focuses on the adaptive reuse of the heritage buildings along Water Street, where 518 sqm of retail and commercial space is planned across shop, office and food and drink outlet uses. A permeable residential lobby would be positioned between the retained heritage buildings, creating a pedestrian connection between the historic streetscape and the new tower behind.

<img alt="First look: Keylin unveils heritage-led Lotus on Water Street tower in Fortitude Valley" data-entity-type="file" data-entity-uuid="269cf3e0-7d13-48bf-a318-05a00deb5c10" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/fortitude%20valley%20podium.png?VersionId=DLXmTCLsp6GOcLpQ0h.0z7wKCw59EhN_" />

The heritage retention strategy is central to the scheme. The development application notes that the Brunswick Home Furnishers Showroom and adjoining heritage buildings will remain, with only non-significant structures on the site earmarked for removal under a previously issued Heritage Exemption Certificate. Levels one and two of the new podium are recessed behind the heritage façades to maintain their prominence within the streetscape.

Jackson Teece has drawn inspiration from the site's manufacturing history when designing the podium. The planning documents state that the façade incorporates perforated metal screening that references the woven and rattan furniture historically produced on the site. Cascading and climbing plants are integrated throughout the podium to soften the building's presentation and screen parking levels behind. The landscape strategy also informs the project's name, Lotus on Water Street, drawing on the historic Spring Hollow waterholes that once ran through Spring Hill and the blue water lilies associated with Meeanjin, Brisbane's traditional name.

The proposal also incorporates the neighbouring property at 141 Warry Street, currently occupied by a healthcare service. The existing building would remain, with nine dedicated parking spaces allocated within the new development to support its ongoing operation. In total, Lotus on Water Street proposes 117 car spaces, including 110 resident spaces and seven visitor bays, alongside 100 bicycle spaces.

<img alt="First look: Keylin unveils heritage-led Lotus on Water Street tower in Fortitude Valley" data-entity-type="file" data-entity-uuid="70cf07bc-4fd8-4e70-92dd-be8b21c4e4f0" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/fortitude%20valley%20site.png?VersionId=txlxrJImM0Sm_vTzHVKh5DDUkyL_CiiA" />

The site sits within the Spring Hill East Precinct of the Spring Hill Neighbourhood Plan and is positioned around 650 metres from both Fortitude Valley Station and Exhibition Station. It is also within walking distance of the King Street precinct, Royal Brisbane and Women's Hospital, Herston Quarter and Victoria Park, which is earmarked to become a major venue precinct ahead of the Brisbane 2032 Olympic and Paralympic Games.

Planning documents describe the location as a key gateway between Spring Hill and Fortitude Valley and highlight the area's increasing importance as new transport infrastructure and Olympic-related investment reshape Brisbane's inner north. The development team argues the project will contribute additional housing supply while activating a section of Water Street that has historically received less investment than other parts of the Valley.

Keylin has become increasingly active across Brisbane and southeast Queensland, assembling sites in strategic inner-city locations. They are currently selling and delivering <a href="https://www.apartments.com.au/new-apartments/oria-spring-hill-447-gregory-terrace-spring-hill-qld-4000">Oria Spring Hill</a>, just over 140 apartments due for completion in 2027.

Keylin plans heritage-led Lotus on Water Street apartment development in Fortitude Valley

Roseville is poised for a wave of new apartment development following the NSW Government's rezoning of land around Roseville Station under its Transport Oriented Development program.

The new planning controls have unlocked significant development potential within walking distance of the station, with a number of sites expected to be amalgamated and redeveloped in the coming years as developers seek to take advantage of the increased density allowances.

One of the more restrained developments in the precinct, and set among the first to be delivered having commenced well before the recent changes, is Hyecorp's Juliet. The boutique apartment project is already well under construction and remains on track to welcome residents by the end of the year, offering a markedly different proposition to many of the larger-scale developments now likely to emerge across the suburb.

[smartcode_project:default project_id=7395 project_image_fid=278194]

<a href="https://www.apartments.com.au/new-apartments/juliet-roseville-64-pacific-highway-roseville-nsw-2069">Juliet</a> will comprise just&nbsp;34 one-, two-, and three-bedroom apartments opposite Roseville Station. For Hyecorp, which has delivered projects across Sydney's Lower North Shore for more than three decades, Roseville presented a rare opportunity to address a growing gap in the market.

"<a href="https://www.apartments.com.au/developments/roseville-nsw-2069">Roseville</a> has long been one of the North Shore's most tightly held and desirable suburbs, offering a unique combination of village charm, established greenery, excellent transport connections, and proximity to some of Sydney's best schools and lifestyle amenities," Hyecorp said.

"We recognised a growing demand from local homeowners seeking to downsize without leaving the community they have built their lives around. The location presented a rare opportunity to create homes that cater specifically to that buyer profile."

[smartcode_project:default project_id=7395 project_image_fid=278196]

The six-level development has been designed by <a href="https://www.apartments.com.au/architects/pbd-architects">PBD Architects</a> as a collection of residences that feel more like homes than apartments. The brief centred generous floorplans, abundant natural light, quality finishes, and strong connections to outdoor space.

PBD Architects drew inspiration from Roseville's established garden suburb character, creating a building that sits comfortably within its surroundings rather than dominating them. The architecture incorporates natural materials, soft forms, layered landscaping, expansive balconies, and generous setbacks to strengthen the connection between residents and the suburb's leafy environment.

"The focus was on designing spacious, house-like residences for discerning owner-occupiers and downsizers who wanted to remain on the North Shore without compromising on comfort, privacy, or design," PBD said.&nbsp;

"Every apartment was to feel considered, timeless, and highly functional."

[smartcode_project:default project_id=7395 project_image_fid=278195]

Inside, residences feature engineered timber flooring, stone kitchen benchtops and splashbacks, integrated Fisher &amp; Paykel appliances, ducted air conditioning, and large outdoor entertaining areas designed to take advantage of district and treetop views.

Residents will also have access to a rooftop barbecue and lounge area, alongside practical amenities including parcel lockers, EV charging capability, bicycle storage, a dog wash bay, and a basement car wash facility.

The majority of purchasers so far have been local owner-occupiers from Roseville, Lindfield, Chatswood, Killara, and the broader Upper North Shore, many of whom are transitioning from larger family homes.

"Buyers are looking for spacious, house-like apartments that allow them to downsize without feeling like they are sacrificing comfort or functionality," Hyecorp noted.

"They value large kitchens, generous living areas, ample storage, quality finishes, secure parking, lift access, and low-maintenance living."

[smartcode_project:default project_id=7395 project_image_fid=278204]

Juliet sits directly opposite Roseville Train Station and within walking distance of Roseville Village, while Chatswood's retail and dining precinct is only minutes away. The development is also surrounded by some of Sydney's most established schools, including Roseville College, Ravenswood, Pymble Ladies' College, and Knox Grammar, as well as nearby parklands and golf courses.

Juliet is currently more than 75 per cent sold ahead of its anticipated completion in late 2026.

[smartcode_project_cta:default project_id=7395]

Juliet to sit quietly amid Roseville apartment boom

Sherpa Property Group has unveiled the third instalment of its Flourish series, securing full approval for the two-tower, $500 million Flourish Soleira development in Palm Beach.

<a href="https://www.apartments.com.au/new-apartments/flourish-soleira-1150-1154-gold-coast-highway-palm-beach-qld-4221">Flourish Soleira</a> will rise from a prominent site in the commercial heart of Palm Beach, the long-time home of Cash Converters and a range of local retailers.

The project will introduce a new retail and dining precinct at ground level, beneath 286 apartments.

[smartcode_project:default project_id=150017 project_image_fid=370959]

“We’re very committed to not only providing affordable residential offerings that are much needed in Palm Beach, but also delivering a vibrant new commercial heart that complements the extraordinary growth of the southern Gold Coast,” Sherpa Property Group founder Christie Leet said.

The development will sit under Sherpa's Flourish brand, which is aimed at providing a pathway into the beachside suburb for locals, first-home buyers and downsizers. In a move designed to assist first-home buyers entering the market, Sherpa has reserved all one and two-bedroom, one-bathroom apartments exclusively for eligible first-home buyers.

[smartcode_project:default project_id=150017 project_image_fid=370964]

“Our vision through Flourish is to create a vibrant retail and lifestyle focal point within the Palm Beach centre zone, delivering thriving communities underpinned by lifestyle-rich locations,” Leet said.

“So far, Flourish has been an incredible success, and we hope to carry this momentum as we progress the next two Flourish projects in Palm Beach.”

[smartcode_project:default project_id=150017 project_image_fid=371430]

Located across 1150-1164 Gold Coast Highway and 3 Sixth Avenue, the development will comprise two towers. The northern tower will deliver 154 apartments, while the southern tower will add a further 132 residences, helping address ongoing demand for new apartments in the tightly held coastal suburb.

Flourish Soleira will also feature the most extensive rooftop amenity offering ever delivered in Palm Beach.

The two towers will be connected by a skybridge, with residents gaining access to a rooftop recreation deck featuring a full-width swimming pool, hot and cold plunge pools, wellness spaces, a gymnasium, private dining facilities, massage treatment rooms, barbecue areas, a basketball court, golf simulator, indoor and outdoor dining spaces, sun lounges and extensive landscaping.

LPS Group is expected to start construction later this year.

Sherpa is already well advanced on construction of its debut Flourish project, Flourish Amargo, located just around the corner from Soleira. Meanwhile, Flourish Oasis, positioned opposite Amargo, recently commenced construction and has nearly sold out its collection of 47 apartments.

[smartcode_project_cta:default project_id=150017]

Sherpa unveils $500m mixed-use Palm Beach precinct, Flourish Soleira

Are mortgage holders set to get a reprieve from the RBA in 2026?

Big Four bank NAB believes so. They are now expecting the next move from the RBA to be a cut, rather than a hike, which they had pencilled in for August. They are unsure of the timing of the cut however, they note in their latest&nbsp;NAB Economics RBA Watch.

NAB Chief Economist, Dr Sally Auld, said recent data suggests the economy has lost momentum and the outlook for rates has shifted, noting that the broader economic backdrop has changed since earlier in the year.

“The next move in the cash rate is likely to be down, but the timing is uncertain," Dr Auld said.

"In February, growth was above trend, the economy was operating above capacity and there was uncertainty over the restrictiveness of rates. None of these conditions exist today,” she outlined.

Dr Auld said recent data pointed to softer momentum across the economy while acknowledging that at the same time, uncertainty remains a key feature of the outlook.

“Both Q1 GDP data and the NAB business survey suggest momentum in the economy has slowed, meaning that growth has likely peaked for the cycle. That said, we are cognisant there is still considerable uncertainty around the outlook, both with respect to activity and inflation.”

Dr Auld said inflation risks and labour market outcomes would be important to watch.

“On the prices side, we are still forecasting above target core inflation through to mid-2027. Margins will compress and weaker labour market outcomes are a risk.”

She said tighter financial conditions are expected to weigh on housing and activity.

“Tighter financial conditions will be reflected in a slowing in house price growth and housing credit growth. In summary, we have greater conviction that the next move in rates is down, but less conviction on the timing.”

Staff reporter

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