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The Sydney developer Yuhu Group has been confirmed as the buyer of the two Australian property jewels being developed by the Chinese conglomerate Dalian Wanda.
The company have paid a reported $1.13 billion for the Sydney and Gold Coast residential and hotel mixed-used projects.
Yuhu struck its deal in Hong Kong on January 18.
"Yuhu has faith that these two projects will inject new employment and boost the local economy," Yuhu founder and chairman Huang Xiangmo told Fairfax Media, where two reporters claimed to have broken the news exclusively.
Yuhu was the reported buyer in The Australian two weeks ago.
Yuhu is a local developer which is committed to investing in real estate and other developments in Australia, the group confirmed overnight.
</div>
<div class="cq-article-content-media section"><img class="lazy620x0" src="https://www.afr.com/content/dam/images/g/y/w/u/p/q/image.imgtype.afrArticleInline.620x0.png/1507503772918.jpg" alt="In one the apartments at One Circular Quay. " width="620" height="378" data-src="https://www.afr.com/content/dam/images/g/y/w/u/p/q/image.imgtype.afrArticleInline.620x0.png/1507503772918.jpg"></div>
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<div class="cq-article-content-media section">The purchase price for the two highly desirable real estate assets is made up of a cash component of $315 million alo with the presumed debt of $815 million.</div>
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Forty-five per cent of the Gold Coast project Jewel was owned by Chinese-backed group Ridong. It has also sold its interests in the sale to Yuhu.
An independent valuation of the two projects put them at a total value of $1.12 billion, Dalian Wanda said in a release to the Hong Kong Exchange on Monday night.
Dalian Wanda came under pressure by the Chinese government to crimp its overseas investments. 
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<div class="cq-article-content-paras section">
Forty per cent of the Jewel apartments have sold, with the joint venture struggling to achieve similar sales rates achieved by many developers during the housing boom in the past five years, according to the Australian Financial Review 
Yuhu is in no rush to complete the sales of apartments.
<div class="cq-article-content-media section">The company has extensive developments and investments in Sydney.</div>
<div class="cq-article-content-media section"> </div>
<div class="cq-article-content-media section">They include the Eastwood shopping centre, which it has plans to redevelop.</div>
<div class="cq-article-content-media section">There is also the North Sydney residential tower, The Miller, which it is developing, and the Bakehouse Quarter in Sydney's inner west which it bought for $380 million last year. </div>
<div class="cq-article-content-paras section">
Mr Huang says the residential market in Sydney continues to show strong fundamentals.
It also advised its plans to retain the penthouse atop the Circular Quay residential tower, which Dalian Wanda was said to have received an expression-of-interest offer of $100 million.
As a local company Yuhu did not require Foreign Investment Review Board approval.
Yuhu is controlled by Mr Huang - an Australian permanent resident - and his family members, who are Australian citizens.
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j.ballantyne1990-6AQqhLzZaK

Yuhu Group scores Dalian Wanda's Sydney and Gold Coast jewels for $1.13 billion

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Campsie was the second suburb in the CoreLogic list of the top 10 Sydney suburbs with the lowest median value with 10 kilometres of the CBD. 
There was a median value of $608,394 in the inner west suburbs.
There were an annualised 339 sales over the period.
A two Campsie apartment that has just gone under contract was priced at <a href="https://www.realestate.com.au/property-unit-nsw-campsie-117803103" target="_blank">$629,000</a> (pictured above). It last traded for $548,000 in 2014.
Another two bedder on Hill Street sold at<a href="https://www.realestate.com.au/sold/property-unit-nsw-campsie-126805262" target="_blank"> $639,000 </a>earlier this month. That last sold for $386,000 in 2013.
<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/2018/1/22/SYD%206.jpg" alt="">
A two bedroom apartment has been sold for $583,000 in January. The <a href="https://www.realestate.com.au/sold/property-unit-nsw-campsie-126949770" target="_blank">32 Dryden Street top floor apartment</a> sold tenanted at $480 per week having last traded for $330,000 in 2003.
Another Campsie apartment was sold by Peter Kassas and George Arrage from Raine &amp; Horne last year for $605,000, taking just seven days to sell.
The <a href="https://www.realestate.com.au/sold/property-apartment-nsw-campsie-126807930" target="_blank">Claremont Street unit</a> came with two bedrooms and one bathroom. It has rapid access to Sydney airport and the Inner West.
 
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Campsie among Sydney's top 10 cheapest unit values within 10km of CBD

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Beecroft ranked fourth last year in the CoreLogic top 10 Sydney suburbs with the greatest annual change for units.
There was a median value of around $1.03 million in the upper North Shore suburb. There were an annualised 33 sales over the period.
The 12-month change was 31.7%.
Townhouses styles offerings are currently on the market off the plan on Copeland Road priced at<a href="https://www.realestate.com.au/property-apartment-nsw-beecroft-127235354" target="_blank"> $1.03 million</a>.
They are designed by Paul Meyer.
<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/2018/1/22/SYD%208.jpg" alt="">
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Beecroft units prices rocketed into Sydney's top 10 suburbs in 2017 

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Set at Southside, near Gympie, a four bedroom home has been sold by mortgagees for $295,000. 
The Queensland home had been on and off the market for several years with initial $350,000 hopes.
It was sold by the agent Rob Nimmo of The Professionals who marketed it as in the popular Willow Grove estate.
<a href="https://www.realestate.com.au/sold/property-house-qld-southside-126972326">The Willow Grove Road house</a> came with four bedrooms, optional office, two living areas, large kitchen and double garage.
It came with solar hot water and eight solar panels. It last sold as a vacant building block at $125,000 in 2008 when it took just 18 days to find its buyer.
The building cost was $175,000.
Schools including Gympie South State School and Cooloola Christian College are a short car trip away.
According to CoreLogic, the median Southside house price is $327,475, still well down on the boom that ended in 2011.
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Willow Grove estate, Southside home sold by mortgagee

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More than 100 registered bidders attended an auction event in Canberra last week.
There were 29 properties for auction with 22 selling under the hammer, reflecting a 76% clearance rate.
Out of the offering only one came without a registered bidder.
Five of the homes had more than seven registered bidders after more than 1000 inspections of the auctioned Ray White homes were undertaken.
Prices ranged from $430,000 to $1,452,500 including 15 Hakea Crescent, O’Connor (pictured above) with the four-bedroom 2009 home the highest result.
The $430,000 sale was a 150 sqm three bedroom Narrabundah apartment that had previously sold in 2003 at $285,000.
It was sold as a $420 a week rental until September. It had been initially listed with $475,000 hopes last year.
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Canberra auctions off to a flier

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One of only five apartment residences in the harbourside Kurraba Point, Wallaringa Mansions ranked as the week's top sale after a sale on Australia Day eve.
<a href="https://www.realestate.com.au/sold/property-apartment-nsw-neutral+bay-127352910" target="_blank">McGrath agent Claudia Portale</a> secured $3,325,000 for the semi style apartment with leafy harbour views. 
It last sold in 2014 at $2.36 million, so reflecting 10% annual growth.
It sold at $2.2 million in 2007.
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Kurraba Point, Wallaringa Mansions ranks as the week's top sale through McGrath

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Melbourne and Sydney housing prices face a one-in-five risk of price correction, with JP Morgan saying there's little chance of a correction in the next five years.
It ranks as 19% for Melbourne and 18% for Sydney, JP Morgan economist Henry St John said after prices have been rising faster against wages.
The chance of steep price falls in Brisbane or Adelaide is rated at 8%, while the odds of a further 15%-plus slide in Perth prices is 7%.
The ABC advised St John arrived at his estimates by examining not only absolute price growth but also price-to-income and price-to-rent ratios to calculate how far out of whack the current real estate market is with historical averages.
"The fact that those valuation ratios in Melbourne haven't ever really had a deep pull-back means price gains have persistently dominated income and rental rate growth for a very long history," St John said.
This time last year the JP Morgan team forecast "major risks" for the listed property companies in Brisbane and Melbourne apartment settlements during 2017, which did not happen.
 
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80 percent chance there will be no property crash: JP Morgan 

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The lowest price paid at big weekend auction, The Event was $136,000 for a one-bedroom furnished hotel room at Surfers Paradise.
The <a href="https://www.realestate.com.au/property-unit-qld-surfers+paradise-127261054" target="_blank">1417 Mantra on View unit</a> is holiday let though on-site managers with owners allowed to stay for 28 days per year.
It last sold in 2009 at $219,500 to a WA investors.
“The strong contingent of local buyers was the big surprise of the day,” said Andrew Bell, the CEO of Ray White Surfers Paradise Group. 
Among the properties passed in was a grand three-storey historic home at Warwick known as The Abbey. The property boasts 50 rooms, a chapel, grand dining room and function rooms.
A five-bedroom waterfront home with Florida-style architectural elements at 80 Admiralty Drive, Paradise Waters, was passed in at $4 million. It had been on and off the market for two years without success.
“We’re expecting to secure sales for a number of properties passed in over the weekend over the coming weeks,” Mr Bell said.
Strong interest from interstate buyers didn’t translate to strong bidder numbers at Ray White Surfers Paradise’s The Event on Sunday.  </div>
<div> </div>
<div>Some 41 properties worth $35.4 million sold at the auction where 170 registered bidders, mainly from the Gold Coast and Brisbane, registered to bid.</div>
<div>Ten properties sold prior to auction among the 80 plus offerings.</div>
</div>
RWSP Group CEO Andrew Bell said they had over 2000 inspections on properties over the last four weeks," Mr Bell said.
Bell had tipped interest from southern buyers to lead sales.
Mantra's resales have been loss making for some time. A sale last November was at $148,000 having sold at $320,000 in 2006, according to CoreLogic. 
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Surfers Paradise Mantra unit liquidation sale cheapest weekend result

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Big cities and places with internationally renowned attractions have long been the most popular tourist destinations. Even today, Chinese tour companies in Australia, for instance, mostly <a href="https://epubs.scu.edu.au/tourism_pubs/2219/" target="_blank">focus on the biggest cities</a> – Sydney, Melbourne, Brisbane – and landmarks like Uluru. But modern tourism is starting to take a slightly different path, regional travel, which creates economic benefits for towns and also leaves tourists with a better impression of a country.
Unpublished research undertaken by one of us (Elizabeth Turenko) while working as a tour leader in Ukraine in 2013-2014 confirmed this. Feedback from guests travelling on a group tour to Europe showed 80% preferred to visit “well-known” large cities, mostly capitals, when it came to choosing a tour.
Most of the time, though, these tourists were disappointed because the cities did not live up to their expectations. But, the study revealed, 75% of tourists enjoyed travelling to smaller towns when they did decide to visit them as part of a tour.
<h2>Big cities are losing their local flavour</h2>
There is no doubt the major cities are attractive and are still perceived as the essence of a country for many tourists. Yet the question remains: are these cities actually showing the “real country”? At a time of globalisation and global cities, to what extent do the larger cities still give tourists “the taste” of local culture.
Rural Tourism Marketing Group CEO <a href="http://ruraltourismmarketing.com/" target="_blank">Joanna Steele</a> <a href="https://www.propertyobserver.com.au/http://www.cfra.org/node/2504" target="_blank">writes</a>:
<blockquote>
In the past five years tourism has seen some big changes. Large numbers of travellers have lost interest in cookie-cutter restaurants, lodging and attractions. Instead, they want local food, local attractions and connection to the lifestyles of local people.
</blockquote>
The best places to experience that are often small local towns and villages. Here life hasn’t yet been adapted to tourist needs and the authenticity feels right.
Turenko also investigated the tourists’ preferences during a group bus tour in Europe. The main program involved a one-day visit to Amsterdam and a second day on which tourists could spend their free time in Amsterdam or go on a group trip to <a href="https://www.iamsterdam.com/en/plan-your-trip/day-trips/old-holland/smalltown-harbours/volendam" target="_blank">Volendam</a>, a small town 20km away. The 90% of the group who opted for the town visit were very satisfied with their decision.
So, was there anything special about Volendam? Not really.
Much like many small towns in the Netherlands, Volendam has limited tourist attractions, these being mostly its built heritage (wooden buildings) and cultural assets (a museum and a cheese factory). When surveyed, the visitors explained they enjoyed the glimpse into the local culture and the routine life of the locals.
The tourists appreciated going to local shops and eating at local restaurants far away from standardised brands and international franchises. They felt they could feel the “soul” of the country.
<a href="https://images.theconversation.com/files/198072/original/file-20171207-31532-jx8b4o.jpg?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=1000&amp;fit=clip"><img src="https://images.theconversation.com/files/198072/original/file-20171207-31532-jx8b4o.jpg?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=754&amp;fit=clip" alt=""></a>
What does Volendam have that Amsterdam doesn’t? It probably comes down to everyday local character.
At the time of this 2014 survey, cities and holidays at the coast were the <a href="https://www.nbtc.nl/web/file?uuid=7361722f-011d-4714-b98b-8ced3eee1bb2&amp;owner=388ad020-d235-4624-86a4-d899f855a216&amp;contentid=48712" target="_blank">main attractions for visitors to the Netherlands</a> (36% and 22%, respectively). But interest in the countryside and touring the Netherlands (12% and 10%, respectively) has been increasing.
<h2>Finding a local tourism niche</h2>
Let’s be frank: smaller towns and villages have not been dormant, and many have jumped at the opportunities offered by tourism. We all have heard about farm holidays, horse riding, wine tasting tours, nature guided walks and so on.
Building on this, innovative regional tourism practices have been recognised worldwide for displaying a breadth of approaches and end products. A good example in Ireland is <a href="http://visitballyhoura.com/" target="_blank">Ballyhoura</a>, “a world where the little pleasures of sharing everyday things with the locals in Ballyhoura – talking with them, walking with them and sharing a joke – is possibly the greatest attraction of them all!”
Despite a lack of outstanding tourism resources, the area became a successful tourism destination thanks to a very personalised marketing method. Visitors even received a welcoming letter. The focus on “<a href="http://www1.agric.gov.ab.ca/%24Department/deptdocs.nsf/all/csi13476/%24FILE/Rural-Tourism.pdf" target="_blank">promoting a genuine rural experience and warm welcome</a>” creates an incentive for more local start-up enterprises and for a co-operative, closing-the-loop process of quality control.
Longreach and Winton are Australian towns that have taken advantage of distinctive local histories and features such as old mines and fossil beds. Longreach has the <a href="http://outbackheritage.com.au/" target="_blank">Australian Stockman’s Hall of Fame</a> and the <a href="https://qfom.com.au/" target="_blank">Qantas Founders Museum</a>, while Winton’s <a href="http://www.australianageofdinosaurs.com/" target="_blank">Australian Age of Dinosaurs Museum</a> offers “products” of the natural environment such as dinosaur stamps and bones.
<img src="https://images.theconversation.com/files/196454/original/file-20171127-2004-xmtv11.jpg?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=754&amp;fit=clip" alt="">
Nowhere else has one: the Stockman’s Hall of Fame in Longreach, Queensland. James Shrimpton/AAP
Yet all attempts have not been met with success. Many smaller towns are slowly disappearing in Australia. Main streets with closed shops and abandoned business are not uncommon.
The combination of lack of employment and population ageing and loss is a chicken-and-egg situation. The various levels of government are acutely aware of this, and tourism offers a possible way out of the dilemma facing these towns. Several recent initiatives have shown how tourism can contribute to the development of these areas when innovation, expertise and community participation are brought together.
Charleville in far west Queensland offers a great example of this, with the outback town working on making the most of its clear nighttime skies, far from the city lights. An extension to the <a href="http://www.cosmoscentre.com/" target="_blank">Cosmos Centre and Observatory</a>, <a href="https://www.statedevelopment.qld.gov.au/index.php/regional-development/regional-economic-development/building-our-regions/remote-communities-infrastructure-fund/1385-charleville-cosmos-centre-planetarium-stage-1" target="_blank">funded by state and local governments</a>, has boosted visitor numbers in just one year. The extension displays fun and serious facts about planets and life in space, enhanced by interactive media.
<img src="https://counter.theconversation.com/content/87997/count.gif?distributor=republish-lightbox-basic" alt="The Conversation" width="1" height="1">For the town of fewer than 4,000 people, the growth in tourism is like a nice spring rain after a long dry season. It’s another reminder of why rural tourism can be “<a href="https://www.conversational.com/rural-tourism-the-perfect-small-town-business-idea/" target="_blank">the perfect small town business idea</a>”.
<a href="https://theconversation.com/profiles/elizabeth-turenko-424627" target="_blank">Elizabeth Turenko</a>, PhD Candidate, <a href="http://theconversation.com/institutions/griffith-university-828" target="_blank">Griffith University</a> and <a href="https://theconversation.com/profiles/karine-dupre-252059" target="_blank">Karine Dupré</a>, Associate Professor in Architecture, <a href="http://theconversation.com/institutions/griffith-university-828" target="_blank">Griffith University</a>
This article was originally published on <a href="http://theconversation.com" target="_blank">The Conversation</a>. Read the <a href="https://theconversation.com/tourists-are-happy-when-taken-off-the-beaten-track-and-smaller-cities-and-towns-can-tap-into-that-87997" target="_blank">original article</a>.
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Tourists are happy when taken off the beaten track

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<div>
A Cross Street, Double Bay property - that once housed one of Sydney's shopping mecca Hampshire &amp; Lowndes - has been listed with estimated $15 million hopes.
The 329 sq m site at <a href="http://www.onthehouse.com.au/11744095/2_12_cross_st_double_bay_nsw_2028" target="_blank">12 Cross Street</a> has been held for more than 20 years.
The shop was long run by Jilly Hampshire and Susan Lowndes. It now consists of five retail tenancies and five commercial tenancies.
Sarah Lowndes has been a director of the vendor company since 1976. The current shareholders are listed as Hugh Norton and Clive Mansell.
The commercial property is fully leased to 11 retail and commercial tenants.
Colliers International has the offering of the first Double Bay freehold commercial property set to be auctioned in many years, Fairfax Media advised.
</div>
<div>The street has seen two development projects unveiled by two major developers on the street, Toga and SJD.</div>
<div> </div>
<div>Toga is developing the site at 16-18 Cross Street into a 13-unit project called The Hunter, while SJD has a double landholding at 20-26 Cross Street and 28-34 Cross Street for units.</div>
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Hampshire & Lowndes's former Cross Street, Double Bay listed

Sydney developer&nbsp;<a href="https://www.apartments.com.au/developers/central-element">Central Element</a>&nbsp;is doubling down in Drummoyne, lodging plans for a boutique apartment development on St Georges Crescent, only one-kilometre down the road from its first Drummoyne development, Bianca.

The new project at 15A-21 St Georges Crescent,&nbsp;a&nbsp;1,701sqm north-facing site overlooking Iron Cove, will have 45 apartmnts across 10 levels. Eight of the units will be dedicated to affordable housing.

The site sits within walking distance of Drummoyne Village, Birkenhead Point, ferry services and the Bay Run, and offers harbour views towards the Sydney Harbour Bridge and CBD skyline.

Designed by MHN Design Union, the development will deliver a mix of one, two and three-bedroom apartments, alongside resident amenity including a gym, landscaped communal open space and three levels of basement parking.

The project has been lodged under the NSW Government's Low and Mid-Rise Housing reforms, with Drummoyne Village identified as a town centre capable of accommodating additional housing supply.

Central Element acquired the site earlier this year as part of its continued expansion across Sydney's eastern suburbs, lower north shore and inner west.

The developer's current pipeline includes luxury apartment projects Pearl Bondi and a separate development on Lamrock Avenue in Bondi, a residential project in Barry Street, Neutral Bay, and a mixed-use seniors living community in Greenwich.

Central Element Managing Director Nathan Chivas said the project would address a shortage of new owner-occupier housing opportunities in Drummoyne.

"While we're seeing a significant shift across Canada Bay as major infrastructure investment, population growth and planning reform drive a new chapter for the region, in suburbs like Drummoyne there remains a genuine shortage of new boutique luxury housing opportunities for owner occupiers," Chivas said.

"Sites of this nature are increasingly difficult to secure, particularly those that combine a north-facing aspect with direct water outlook. Our St Georges Crescent project responds directly to the market demand, offering a level of exclusivity, outlook and lifestyle in the highly sought after suburb."

The development application has been lodged with the City of Canada Bay Council, with the project expected to launch to market in early 2027.

&nbsp;

Joel Robinson

Central Element seeks second Drummoyne apartment development

The NSW Government has unveiled plans that could deliver around 1,300 new homes across Nowra and Kiama, continuing its push to unlock housing in well-located regional centres along the South Coast.

The proposals, now on public exhibition, would pave the way for around 830 homes in Nowra and a further 450 homes in Kiama, while also introducing affordable housing requirements and increased building heights in key locations.

The larger of the two proposals is centred on Nowra, where the NSW Government is seeking to rezone land within the Mandalay and Riverfront precincts.

The Mandalay sub-precinct, located close to Shoalhaven Memorial Hospital, Nowra Library and the city's aquatic centre, could accommodate around 530 new homes. Around 30 per cent of housing delivered on Homes NSW-owned land would be dedicated to social and affordable housing, equating to roughly 100 homes. Building heights would increase from the current two-storey limit to between three and six storeys.

A separate rezoning proposal for the Nowra Riverfront Precinct would unlock a further 377 homes while creating stronger connections between the Shoalhaven River and the CBD. The plans include building heights ranging from five to 12 storeys, floor space ratios of up to 2:1 and a requirement for two per cent affordable housing.

Together, the two proposals would deliver more than 900 homes across the broader Nowra area, reinforcing the city's role as one of regional NSW's key growth centres.

The housing push builds on previous infrastructure commitments in the Shoalhaven, including government funding aimed at supporting thousands of future homes in West Nowra through upgrades to water and wastewater infrastructure.

Further north, the NSW Government is also progressing plans for the former Kiama Depot site, a two-hectare parcel near Kiama's town centre.

The rezoning proposal would transform the former industrial site into a residential community capable of delivering up to 450 homes. Buildings would range between six and eight storeys, with at least 10 per cent of homes allocated as affordable housing. The proposal also includes approximately 600 parking spaces and improved walking and cycling connections.

Planning Minister Paul Scully said the proposals are designed to increase housing supply in locations close to jobs, transport and services.

"For too long, families have struggled to find somewhere to live, and activating underutilised sites allows us to deliver the new homes these families need," Scully said.

"The Minns Labor Government is getting on with the job of unlocking well-located sites close to transport, jobs, and town centres and building the homes our communities need.

"These rezonings are about removing barriers to housing delivery and making sure land is put to better use so more people can find a place to call home within the communities they choose."

The latest rezonings form part of the Minns Government's broader strategy to accelerate housing delivery across NSW, particularly in established centres where existing infrastructure can support additional population growth.

Community consultation on the proposals is now underway, with feedback set to inform the final planning controls before the rezonings are determined.

Around 1,300 new homes earmarked for Nowra and Kiama as NSW Government pushes housing supply

<a href="https://www.apartments.com.au/developers/mrcb">MRCB International</a> has commenced construction on its latest Gold Coast apartment development, Maris, on the site of the former Sundale Motel in Southport.

The start of construction by <a href="https://www.apartments.com.au/builders/binah-constructions">Binah</a> follows an exceptionally strong sales campaign, with more than 90 per cent of apartments sold since launch. Every purchaser has been local, an&nbsp;indicator of confidence in both the development and Southport's evolution into a thriving CBD.

<a href="https://www.apartments.com.au/new-apartments/maris-southport-20-queen-street-southport-qld-4215">Maris</a> will deliver 192 residences across 20 levels. The project forms part of MRCB's Australian and New Zealand development pipeline now exceeding $1.6 billion in gross development value, alongside a growing portfolio of projects globally.

[smartcode_project:default project_id=134403 project_image_fid=350663]

The company also commenced construction on its $600 million 26 Vista residences in Surfers Paradise last year, following strong sales momentum, with over 70 per cent of residences sold.

Maris has been designed to meet evolving buyer demand, offering architecturally designed layouts suited to long-term liveability. The approach reflects a growing preference for quality and adaptability among Gold Coast buyers.

Positioned next to the Broadwater in the <a href="https://www.apartments.com.au/developments/southport-qld-4215">Southport</a> CBD, Maris sits directly opposite the Broadwater Parklands light rail station and within easy reach of retail, dining and lifestyle precincts, placing residents at the centre of one of the Gold Coast's most connected and rapidly maturing urban centres.

[smartcode_project:default project_id=134403 project_image_fid=372756]

Maris will offer a full suite of resort-style residential amenities, including a pool, gym and sauna, along with a rooftop level featuring decks, lounges and dining and yoga areas that command sweeping views across the Broadwater and out to the ocean.

Binah, a New South Wales headquartered company co-founded by Amen Zoabi and Khalil Hafza in 2008, has expressed its excitement at establishing its first partnership with MRCB.

Binah's Managing Director Khalil Hafza said partnering with MRCB on Maris is a significant moment for Binah.

"MRCB's financial strength and a track record that speaks for itself give this project a solid foundation, and this marks the beginning of what will be a long and successful relationship.

"With the right people, systems and partnerships behind it, Maris is set to become a significant addition to the Gold Coast's premium residential market."

[smartcode_project:default project_id=134403 project_image_fid=350664]

MRCB International CEO Ravi Krishnan said the project's progression to construction reflects both sustained demand and tightening conditions across the apartment sector, as well as MRCB's continued confidence in the Gold Coast market.

"Commencing construction at Maris is a significant step and reflects the depth of demand for quality apartments in well-connected urban locations," said Krishnan.

"Across Southeast Queensland, new apartment supply remains constrained, particularly in established precincts with infrastructure and amenity already in place. Projects like Maris are increasingly critical in meeting that demand, especially on the Gold Coast and in the city's CBD precinct."

[smartcode_project:default project_id=134403 project_image_fid=372761]

Krishnan said Southport's ongoing transformation, supported by infrastructure investment and long-term planning, was underpinning renewed buyer confidence.

"We're seeing a clear shift back towards well-located urban centres where infrastructure, connectivity and amenity are already established," said Mr Krishnan. "Southport is evolving into a more mature CBD environment, and that is being reflected in buyer behaviour."

Construction at Maris is anticipated to be completed in 2029.

[smartcode_project_cta:default project_id=134403]

Construction commences on MRCB’s $200m Maris Residences in Southport

Moonee Valley Park’s latest residential release <a href="https://www.apartments.com.au/new-apartments/the-eveline-at-moonee-valley-park-moonee-ponds-100-thomas-street-moonee-ponds-vic-3039">The Eveline</a>, has achieved a new benchmark for off-the-plan apartment sales in the suburb, with the sale of The Alexandra penthouse selling for $5,435,000.

Positioned on the top floor of a 16-level residential building, the three-bedroom, three and-a-half-bathroom penthouse features uninterrupted city skyline views across the future Valley racetrack.&nbsp;

The landmark sale comes as momentum at the precinct continues to build, with the Moonee Valley Racing Club progressing works on its new racetrack ahead of the 2027 Cox Plate. The transformative development will see MVRC reimagine the beloved Valley as a vibrant year-round entertainment and lifestyle destination.

Alongside a world-class racing experience, the historic precinct will be activated with events, hospitality and public green spaces designed to attract broader audiences, while breathing new life into one of Melbourne’s most iconic destinations.&nbsp;

[smartcode_project:default project_id=142519 project_image_fid=372786]

Development partners <a href="https://www.apartments.com.au/developers/hamton">Hamton Property Group</a> and Hostplus have delivered five residential stages over the past four years, the most recent in November 2025 with Trackside House and Stonepine House. The flourishing community is now home to almost 500 families.&nbsp;

The latest residential release, The Eveline, has recorded strong demand since launching publicly last July, securing more than $200 million in sales to date, satisfying its pre sales hurdle for construction to commence.&nbsp;

Hamton Founder and Executive Chairman, Paul Hameister OAM said, the sales&nbsp;team have been overwhelmed by demand for these unique homes in this unique project.

"Buyers continue to be predominantly hyperlocal and attracted by the 40 hectare botanic masterplan in Melbourne’s inner north west," Hameister said.

[smartcode_project:default project_id=142519 project_image_fid=372788]

Hamton’s Sales and Marketing Director Fergus Humphries said the team has achieved more than 70 sales over the past eight weeks, including the penthouse purchase by a local buyer.

"These results reinforce that, even in a challenging market, purchasers continue to be drawn to quality projects that offer more than just a home, they offer a lifestyle.”

Designed by Cera Stribley, the penthouse has been created with entertaining in mind, spanning close to 400 sqm of indoor and outdoor living space, including multiple terraces designed to capture sweeping views across Melbourne’s skyline, the new Valley racecourse and sunset views over Moonee Ponds.

Moonee Valley Park is one of Melbourne’s largest urban renewal projects, transforming the iconic racecourse site into a vibrant mixed-use neighbourhood integrating homes, parklands, retail, racing and community amenities.

[smartcode_project_cta:default project_id=142519]

Moonee Valley Park penthouse sets suburb record as sales surge clears construction benchmark

A company linked to one of Australia's largest privately owned cattle businesses has lodged plans for a new residential tower in <a href="https://www.apartments.com.au/developments/newstead-qld-4006">Newstead</a>, continuing the rapid transformation of one of Brisbane's most sought-after, inner-city precincts.

Bottletree Holdings, an entity associated with Stanbroke Managing Director Brendan Menegazzo, has submitted a development application for a 28-storey mixed-use tower at <a href="https://www.apartments.com.au/new-apartments/9-longland-street-newstead-qld-4006">9 Longland Street</a>, a site that made headlines last year when it changed hands in an off-market transaction that reportedly set a benchmark land rate for the suburb.

The proposal would replace an existing two-storey commercial building on the 1,510 sqm corner site with a Bureau Proberts-designed tower comprising 76 apartments, ground-floor retail, office space and a suite of resident wellness amenities.

<img alt="9 Longland" data-entity-type="file" data-entity-uuid="c710a836-568e-4382-bc91-3c34b8e80a8b" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-06-22%20at%209.41.45%E2%80%AFAM.png?VersionId=Vy.mQWBc7GA_a.vIBdxKqRC9XGjWalo2" />

According to planning documents lodged with Brisbane City Council, the development would comprise a mix of 36 two-bedroom apartments, 24 three-bedroom apartments and 16 four-bedroom residences, positioning the project firmly at the premium end of the market. The apartments would sit above a podium containing retail and commercial space, with three levels of communal recreation facilities spread throughout the tower. The proposal also includes 198 car spaces and 95 bicycle spaces.

Bureau Proberts has drawn heavily on Newstead's industrial heritage in developing the architectural response.

"Occupying a prominent corner in the heart of Newstead, the proposal draws from the area's industrial lineage of robust brick warehouses to deliver a distinctly contemporary response," the architects said in the design statement.

"It is conceived as a subtropical sanctuary and elevated private retreat embedded within one of Brisbane's most vibrant lifestyle precincts."

The design seeks to reinterpret the traditional Queensland vernacular through wraparound verandahs, deep shading elements and permeable facades that respond to Brisbane's subtropical climate.

<img alt="9 Longland" data-entity-type="file" data-entity-uuid="25524f59-395c-4825-8fad-9b639822fa8a" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-06-22%20at%209.42.09%E2%80%AFAM.png?VersionId=dlWlbpCc_g3Y6yTLGqRVKvGJvO2ubMJ3" />

Planning documents describe the building as embodying the principles of "buildings that breathe", a design approach increasingly favoured in Brisbane's apartment market as developers focus on natural ventilation and outdoor living spaces.

The tower itself would rise above a heavily landscaped podium designed to reference the woolstore architecture that helped define Newstead and neighbouring Teneriffe for generations. At ground level, fine-grain retail tenancies would activate Longland Street, Wyandra Street and the existing Wyatt Street laneway, further extending the pedestrian network that has become a hallmark of the Gasworks precinct.

The application notes that more than 54 per cent of the site would be dedicated to landscaping and deep planting, while approximately 1,750 sqm of communal recreation space would be delivered across multiple levels.

<img alt="Planning" data-entity-type="file" data-entity-uuid="fed3b189-1054-4b68-af5f-b0befc4a66e5" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-06-22%20at%209.42.19%E2%80%AFAM.png?VersionId=gqeE3cjsbnLAfeTUKA1HtPZfqDs6S4Xa" />

Bottletree paid $22 million for the 1,510 sqm development site, equating to more than $14,500 per sqm, a reflection of the strong demand for development opportunities in Newstead. The suburb continues to attract both developers and buyers, underpinned by the ongoing evolution of the Gasworks and Teneriffe precincts into some of Brisbane's most sought-after lifestyle destinations.

Brisbane City Council's Sustainable Growth Strategy and Inner City Strategy both identify Newstead as a priority growth precinct capable of accommodating additional housing density due to its proximity to employment hubs, public transport and lifestyle infrastructure.

The proposed tower joins a growing pipeline of high-end apartment developments in the suburb. Fortis recently launched <a href="https://www.apartments.com.au/new-apartments/crest-walker-newstead-12-kyabra-street-newstead-qld-4006">Crest &amp; Walker</a>, a 65-apartment owner-occupier-focused development on Kyabra Street, while Consolidated Properties Group is preparing to launch <a href="https://www.apartments.com.au/new-apartments/castile-47-skyring-terrace-newstead-qld-4006">Castile</a>, a 227-apartment waterfront project on Skyring Terrace.

Meanwhile, builder-developer BPG is planning its own Newstead project on Maud Street, comprising just over 100 apartments and more than 1,380 sqm of dedicated wellness and resident amenity spaces, further highlighting the shift towards lifestyle-driven apartment developments in Brisbane's inner-city market.

Staff reporter

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