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<p>The White Shells penthouse apartment in Marcoola on Queensland's Sunshine Coast has been sold by mortgagees.</p>
<p>It fetched $700,000 when sold by Jay Pashley and Liz Hope from North Shore Reality. </p>
<p>It was last sold at $1,115,000 by the developer, <span>Twaddle Developments in 2007.</span></p>
<p>The <a href="https://www.realestate.com.au/sold/property-unit-qld-marcoola-126541826" target="_blank">east facing beachfront apartment</a> with views had been on the market since September.</p>
<p>The penthouse has the direct access to its exclusive roof deck. </p>
<p>The apartment came with two bedrooms, two bathrooms and office nook. </p>
<p><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/2018/1/29/sunshine2.jpg" alt=""></p>
<p><span>According to CoreLogic, the median price for units in Marcoola sits at $380,000.</span></p>
<p><span>Another White Sheels apartment sold last year at $698,000 to a Netherlands couple who work at their Chinese embassy. Apartment 42 was a three<span> bedroom luxury apartment on the first floor in the South East corner.</span></span></p>
<p><span><span>The marketing advised it had "previously been valued at just under one million dollars."</span></span></p>
<p><span><span>It had been sold off the plan in 2007 at $985,000.</span></span></p>
<p><span><span>The CoreLogic Pain &amp; Gain report highlights the Sunshine Coast loss-making locality (below).</span></span></p>
<p><span>Click here <a href="https://www.propertyobserver.com.au/images/2018/1/29/painandgain.jpg" target="_blank">to enlarge.</a></span></p>
<p><span><span><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/2018/1/29/painandgain.jpg" alt=""></span></span></p>
<p>All 48 apartments have either a north or east-facing aspect. White Shells has four residential levels with lift access to every level and there are three separate entrances into the apartments, making living at White Shells much lower density than most apartments.</p>
<p>On completion there had been very little in the way of brand new beachfront apartments on the coastal side of the David Low Way.</p>
<p>It sits at the corner of Merchants Parade and Seashore Street, Marcoola. </p>
<p><span><span> </span></span></p>
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j.ballantyne1990-6AQqhLzZaK

White Shells, Marcoola Sunshine Coast penthouse sold by mortgagee

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<p id="ember1426" dir="ltr"><span id="ember1433">The hardworking Domain senior economist Dr Andrew Wilson has been missing from zealously offering his commentary on property markets for several months.</span></p>
<p dir="ltr"><span id="ember1433">An official announcement headlined "Dr Andrew Wilson resigns from Domain" came on his LinkedIn on the weekend.</span></p>
<p dir="ltr"><span id="ember1433">"On October 25th last year, I resigned as Chief Economist for the Domain Group," he advised.</span></p>
<p dir="ltr">He was however noticeably absent from early October.</p>
<p dir="ltr">His predecessors include Matthew Bell, who left in 2010 for Stockland, and Louis Christopher who leads SQM.</p>
<p dir="ltr"><span id="ember1433">"My resignation concluded seven years employed by Fairfax brands Australian Property Monitors and Domain Group. </span></p>
<p dir="ltr"><span id="ember1433">"Following my resignation notification, Domain enforced the ‘garden leave’ provision of my three month notice period. </span></p>
<p dir="ltr"><span id="ember1433">"This provision precluded me from having any contact with workmates, clients, the media and the wider community through my various social networks.</span></p>
<p dir="ltr"><span id="ember1433">"With my garden leave and Domain Group employment finally concluded, I will now activate my role as Australia’s leading independent property market economist," he advised.</span></p>
<p dir="ltr">The background, according to some Fairfax-linked sources, is that Dr Wilson felt unappreciated by Domain's chief editorial and marketing officer, Melina Cruickshank, who has been responsible for the increased trivialisation of property coverage since she joined Domain in October 2014.</p>
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<p>This time last year Dr Wilson anticipated capital city housing markets would see mixed results in 2017, but he advised there would "no surprise" that Sydney and Melbourne were likely to continue to lead.</p>
<p>It was likely that other capitals would remain steady, with price growth generally constrained by low income economies, he said.</p>
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<p>"Lower interest rates in 2017 are likely to continue to bolster housing markets, with an increasingly underperforming national economy almost certain to require further stimulus from the Reserve Bank," he forecast.</p>
<p>House price growth, although remaining positive in most capitals through 2017, would likely track in a narrow range of up to 5 percent annually for the top performers, Dr Wilson tipped.</p>
<p>"The Darwin and Perth markets were set to bottom out in 2017, following a lengthy period of weak activity with prices at three year lows," Dr Wilson forecast.</p>
<p>He tipped that unit markets would continue to be influenced by significant levels of new apartments, acting to push supply ahead of demand.</p>
<p>The Sydney unit market was forecast to remain strong, due to a chronic undersupply of units and solid demand, holding prices strong. </p>
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<p>"Record new apartment supply in the Melbourne CBD will continue to outstrip demand, with downward pressure on prices to continue in that submarket," he suggested.</p>
<p>"Strong demand and lack of supply for suburban units, however, will offset the weaker CBD market.</p>
<p>"This means that overall Melbourne unit prices growth is likely to remain positive over the year," he forecast.</p>
<p>(An earlier version mispelt Melina Cruickshank as Melinda) </p>
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Economist Dr Andrew Wilson formally resigns from Domain Group

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<p>Although 2017 saw the usual worry list – around President Trump, elections in Europe, China, North Korea and Australian property – it was good for investors. Balanced super funds had returns around 10%, which is pretty good given inflation was around 2%. This year has started favourably but volatility may pick up as geopolitical threats loom a little larger and US inflation rises. This note provides a summary of key insights on the global investment outlook in simple dot point form. </p>
<p>Five lessons from 2017</p>
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<li>The global economy is finally emerging from its post-Global Financial Crisis (GFC) hangover. Talk of secular stagnation was overdone. Slow global growth since the GFC largely reflected a typical constrained aftermath from a major financial crisis.</li>
<li>The withdrawal of extreme monetary stimulus won’t cause economic chaos if central banks don’t move too quickly and recovery is entrenched – this is clear in the US where the Fed has now been able to move away from zero interest rates and start reversing quantitative easing.<br><br>
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<li>The Eurozone is far more resilient than many give it credit for – with voters across numerous countries opting for centrist pro-Euro parties as opposed to the populist parties that many said were going to sweep to power./<br><br>
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<li>Turn down the noise – retreating to cash on talk of war with North Korea, worries about Trump, ahead of elections in Europe and perennial talk of a property crash in Australia – would have been costly in terms of missed returns.<br><br>
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<li>Stick to an investment strategy – 2017 had its share of distractions for investors but they would have done okay provided they stuck to an investment strategy that prevented them from getting blown around by various scares.</li>
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<p>Key themes for 2018 </p>
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<p>• Still in the sweet spot for investors – a further rise in global growth to around 3.9%, driving solid earnings growth with continuing low inflation and easy global monetary conditions should keep investment returns favourable.</p>
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<p>• But expect more volatility as US inflation stirs, the Fed hikes more than the market expects, other central banks edge towards less stimulus and political risk increases.</p>
<p>• Apart from the likelihood of more volatility through the year, global shares are likely to trend higher through 2018 on the back of rising earnings and still easy monetary conditions.</p>
<p>• Australian shares are likely to do okay but underperform global shares with returns around 8% with moderate earnings growth. Expect the ASX 200 to reach 6300.</p>
<p>• Commodity prices are likely to push up with global growth. • Low yields and capital losses from a gradual rise in bond yields are likely to see low returns from bonds.</p>
<p>• Unlisted commercial property &amp; infrastructure are still likely to benefit from the search for yield, but it is waning and listed variants are vulnerable to rising bond yields.</p>
<p>• National capital city residential property price gains are expected to slow to around zero as the air comes out of the Sydney and Melbourne property boom and prices fall by around 5%, but Perth and Darwin bottom out, Adelaide and Brisbane see moderate gains and Hobart booms.</p>
<p>• Cash &amp; bank deposit returns to remain poor at around 2%.</p>
<p>• After a short-term further bounce higher, the $A is likely to fall against the $US as the gap between the Fed Funds rate and the RBA’s cash rate goes negative. Solid commodity prices will provide a floor for the $A, though.</p>
<p>Seven things to watch </p>
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<p>• President Trump – the risks around the Mueller inquiry and renewed political pressure from the mid-term elections risks more populist policies (with trade conflict with China and Mexico and a possible escalation with North Korea and Iran high on the list) after the business-friendly policies of 2017.</p>
<p>• How quickly US inflation turns up – a rapid upswing would see a far more aggressive Fed, a strong rise in the $US and bond yields, and pressure on emerging market shares.</p>
<p>• Bond yields – a rapid rise in bond yields would be bad for shares and assets that benefitted from the search for yield.</p>
<p>• The March Italian election – the Five Star Movement is likely to do well, which may create investor angst, but they are unlikely to be able to form government and are less anti- Euro. Moreover, support for the Euro remains high in the rest of Europe so Italy is unlikely to trigger a domino effect.</p>
<p>• Whether China, post the Party Congress, embarks on a more reform focussed agenda, slowing short-term growth.</p>
<p>• The Sydney and Melbourne property markets in Australia – too fast a slowdown could threaten broader growth.</p>
<p>• Global business conditions indicators (PMIs). </p>
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<p>Four reasons why global growth is likely be strong </p>
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<p>The post-GFC hangover has faded with high levels of confidence helping drive stronger investment and consumer spending. Self-sustaining growth has returned.</p>
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<p>Global monetary conditions are still easy. While some fret about a flattening US yield curve, this is unlikely to signal a growth downturn because it’s been driven by rising short rates rather than falling long rates, high demand for long bonds as a portfolio diversifier and continuing QE in Europe and Japan holding down global and hence US bond yields.</p>
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<p>Fiscal austerity has faded, with the US seeing stimulus.</p>
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<p>We have not seen the excesses – massive debt growth, overinvestment, capacity constraints or excessive inflation – that normally precede recessions. </p>
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<p>Three reasons why a grizzly bear market is unlikely</p>
<p>Shares are overdue a decent correction and even a brief (or gummy) bear market (where shares fall 20% but are back up a year after) is possible. But a deep (or grizzly) bear (where shares fall 20% and a year after are even lower) is unlikely: </p>
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<p>A recession is unlikely with growth more likely to accelerate. Most grizzly bear markets are associated with recession.</p>
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<p>Short-term sentiment measures are bullish but longer-term sentiment and positioning suggests investors are far from euphoric. (Some of the euphoria may have even been siphoned off to schemes like Bitcoin!)</p>
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<p>The liquidity backdrop for shares is still positive, with low rates still providing an inducement to allocate to shares. </p>
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<p>Three reasons why risks around Trump may rise a bit</p>
<p>For 2017, we expected Trump the business-friendly pragmatist to dominate, but there are several reasons why we may see a bit more of Trump the populist in 2018:</p>
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<p>Much of his business-friendly policy agenda has been implemented notably tax reform and deregulation. So the good news from these sources is largely behind us.</p>
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<p>The Mueller inquiry is getting closer to Trump. We don’t see the Republicans impeaching Trump unless there is clear evidence of wrongdoing. Even if he is replaced by Vice- President Pence, policy wouldn’t change much – but markets may worry about it and this may be intensified if Trump lashes out and creates populist distractions.</p>
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<p>The mid-term Congressional elections in November (with polling pointing to the GOP possibly losing control of the House) will see a renewed focus on issues around trade (as evident in just imposed US tariffs on solar panels &amp; washing machines) and inequality as Trump tries to boost his base.</p>
<p>But the 2016 fears around Trump are still unlikely to be realised – he has a focus on growth and jobs and won’t want to threaten this. A full ontrade war with Mexico or China is unlikely as a surge in consumer prices won’t go down well with his base. </p>
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<p>Three reasons why the trend in bond yields is likely up</p>
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<p>Deflation risks have retreated and are being replaced by inflation risks as global spare capacity is being gradually used up (led by the US) and commodity prices trend higher.</p>
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<p>Long bond yields remain well below levels consistent with nominal growth of around 3-3.5% in developed countries.</p>
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<p>Bonds are over-loved with a huge post-GFC inflow. </p>
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<p>Three reasons why Chinese growth won’t slow much </p>
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<p>The Chinese Government’s tolerance for a sharp slowing in growth is low given the risk of social instability it may bring.</p>
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<p>Monetary &amp; fiscal policy has not been tightened significantly.</p>
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<p>In the absence of much lower savings (the main driver of debt growth), rapid deleveraging would be dangerous. </p>
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<p>Five reasons Australia won't have a recession (again) </p>
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<p>A downturn in the housing cycle and uncertainty around the consumer are the main risks facing Australia but against this:</p>
<p>• The drag from falling mining investment has faded.<br> • Non-mining investment and infrastructure spending are turning up.</p>
<p>• National income is no longer falling as commodity prices have stabilised or are trending higher.</p>
<p>• Stronger export volumes from resource projects like LNG and stronger global growth will provide an additional boost.</p>
<p>• Interest rates can still fall further if needed.</p>
<p>The next move in Australian interest rates will likely be up, but the RBA will wait for more confidence on growth &amp; that inflation has bottomed before starting to gradually hike later this year. </p>
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<p>Five reasons to expect more share market volatility </p>
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<p>• As US inflation rises it will likely result in a more aggressive Fed than the market is allowing for.</p>
<p>• Geopolitics may be a bit more negative than it was in 2017 if Trump becomes more populist.</p>
<p>• Volatility indexes like VIX are around record lows and net speculative short positions on VIX (bets volatility will fall further) are near record highs, warning of some reversal.</p>
<p>• Low volatility years like 2017 often lead more volatile years. • The US share market is expensive on some measures. </p>
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<p>Three reasons Bitcoin is a bad “investment” </p>
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<p>• It’s impossible to value, generating no income flow – making it highly speculative (as evidenced in extreme volatility) and subject to a crowd-driven mania (as we saw in 2017).</p>
<p>• New supply potential is huge – eg, from other crypto currencies and futures trading which is allowing easy shorting and syphoning away demand.</p>
<p>• Governments are likely to ramp up regulation of it, are unlikely to give up their monopoly of legal tender (and the “seigniorage” they earn from it) and will likely develop their own crypto currencies using block chain. </p>
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<p>Nine things investors should remember </p>
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<p>The power of compound returns – saving regularly in growth assets can grow wealth substantially over long periods. Using the “rule of 72”, it will take 29 years to double an asset’s value if it returns 2.5% pa (ie 72/2.5) but only 9 years if the asset returns 8% pa.</p>
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<p>The cycle lives on – markets cycle up and down and we need to allow for it and not get thrown off by rough patches.</p>
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<p>Diversify – don’t put all your eggs in one basket.</p>
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<p>Turn down the noise – increasing social media and the competition for your eyes and ears is creating much noise around investing that is really just a distraction.</p>
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<p>Starting point valuations matter – for example still low bond yields will mean low medium term bond returns.</p>
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<p>Remember that while shares can be volatile, the income stream from a diversified portfolio of shares is more stable over time and higher than the income from bank deposits.</p>
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<p>Avoid the crowd – at extremes it’s invariably wrong.</p>
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<p>Focus on investments with sustainable, decent cash flows – not financial engineering and schemes like Bitcoin.</p>
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<p>Accept that it’s a low nominal return world – when inflation is 2%, a 10% superannuation return is pretty good (and probably not sustainable at that rate). </p>
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Shane Oliver's Insights - 2018 - a list of lists regarding the macro investment outlook

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<p>Just weeks in and the Melbourne property market is off to a flying start.</p>
<p>There are $45 million plus hopes for Evans Court Estate, the <a href="https://www.realestate.com.au/property-house-vic-toorak-127427686" target="_blank">4,970 sqm Toorak compound</a> belonging to the Roche family.</p>
<p>It will easily exceed the single dwelling state record of $40 million set quietly last year when Mowbray sold on St George's Road, Toorak.</p>
<p><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/2018/1/29/evans2.jpg" alt=""></p>
<p>But the offering would need competitive interest to exceed the Australian compound record when a Mosman Park compound fetched $57.5 million on the Swan River in Perth in a 2009 sale by estate agent Willie Porteous.</p>
<p>The six home Toorak compound with Evans Court and Glyndebourne Street frontages last sold without the fanfare in 2015 through Williams Batters.</p>
<p>This time Goldeneye Media have launched an international campaign including drone footage.</p>
<p>Abercromby's agent Jock Langley and CBRE's Mark Wizel have the listing.</p>
<p><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/2018/1/29/evans3.jpg" alt=""></p>
<p>The main residence, Windarring, dates back to 1918 when designed for James Russell Butchar by architects Oakden &amp; Ballantyne in what was described as the Craftsman style.</p>
<p>The Derham family, who owned it for decades, undertook renovations which featured in an 1928 The Australian Home Beautiful edition.</p>
<p>The estate was later expanded by the former BP chief executive James Stafford-Fox and wife Moyna, who added its townhouses.</p>
<p>This article was first published in the Weekend Australian property section.</p>
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Toorak's Evans Court Estate listed with record-breaking hopes

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<p>A new report from US property giant Zillow reveals that Australia’s property obsession extends all the way to the USA.</p>
<p>Zillow calculates more than one million Australians are looking at American real estate on Zillow annually.</p>
<p>Beverly Hills (above) is among the most searched cities, with Los Angeles the most searched region.</p>
<p dir="ltr">Eight of the top 10 most popular U.S. cities for Australian home searches are in the state of California. </p>
<p><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/2018/1/25/zillow%201.jpg" alt=""></p>
<p>Zillow noted the United States has its own housing affordability challenges, but at a much low median home price of around A$265,696 ($203,400USD)</p>
<p dir="ltr">"Home prices are on the rise in almost every major metro area, and in many markets, buyers are facing stiff competition and bidding wars," the Zillow report advised.</p>
<p dir="ltr">California’s economy is about twice the size of Australia’s, so buying a home in a hot California market can come with a significant price tag.</p>
<p dir="ltr">The median price point for Australian home searches on Zillow is A$704,070 AUD ($539,000USD) with the chances of finding a home within that price range in desirable California cities ranked as slim, especially since, according to Zillow’s data, Australians are primarily interested in standalone U.S. homes.</p>
<p dir="ltr">Up-and-coming metros like Las Vegas, Seattle and Portland, Oregon are gaining attention from Australians. In the Las Vegas metro, the median home costs A$309,320 ($236,800 USD) and is expected to rise another 5.8 per cent in value over the next year.</p>
<p dir="ltr">The Los Angeles metro has a median home price of A$804,389 ($615,800 USD) and is expected to gain just 1.1 per cent in value next year.</p>
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<p><img src="https://www.urban.com.au/images/2018/1/25/zillow%202.png" alt=""></p>
<p>There are currently almost 100,000 Australians living the U.S., according to The U.S. Census Bureau. The 2016 Australian Census saw net overseas migration (NOM) departures reach 312,200 people from 31 December 2015 - 31 December 2016, an increase of 3.7 per cent year-on-year.</p>
<p dir="ltr">Launched in 2006 and headquartered in Seattle, Zillow is owned and operated by Zillow Group with shares trading on the NASDAQ.</p>
<p dir="ltr">Shares of Zillow Group are currently trading at around US$44. T<span>he market cap is US$5.47 billion.</span></p>
<p dir="ltr"><span><span>Caledonia</span><span> Investments, the Australian investment firm run by Will Vicars owns around 22% in US online real estate market leader. Will Vicars was <span>instrumental in James </span><span>Packer's </span><span>original $300 million investment in the US stock in 2013, with the equity now held by his sister, Gretel </span><span>Packer.</span></span><span><br></span></span></p>
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Australians seeking out the US dream via Zillow with more than one million views a year

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<p>Caydon's $1 billion redevelopment of Melbourne’s landmark 1960s Nylex clock site is a step closer after the developer secured Victorian Civil and Administrative Tribunal approval for its second stage.</p>
<p>It includes a revised plan for a 15-storey apartment building to be erected at the Gough Street Cremorne mini-suburb site.</p>
<p>A 14-storey building will also be built, with the total redevelopment to consist of three significant buildings.</p>
<p><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/2018/1/25/nylex0.jpg" alt=""></p>
<p>Nine of the site’s original 16 silos will be retained as part of the redevelopment, including adaptation for use as a hotel, art gallery, wellness centre and a visitor centre.</p>
<p>The iconic Nylex clock will tell the time once again after it is restored and reinstated over the new development with what has been dubbed the Malt District.</p>
<p>Caydon's Joe Russo has welcomed the decision.</p>
<p>The VCAT decision referred to the proposal as a “seductive, sophisticated and subtle design."</p>
<p><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/2018/1/25/nylex3.jpg" alt=""></p>
<p>It was 2014 when the set was purchased by Caydon for $38 million.</p>
<p><span>Caydon owned next door, once occupied by Beaver Plastics, taking their holding to around 1.6 hectares.</span></p>
<p>The site has been part of Melbourne’s brewing history since the late 1800s.</p>
<p><span>The 11,340 square metre site had previously attracted interest from developers when restoration projects were proposed in 2002 and 2004. </span></p>
<p><span>The Nylex Clock featured in Paul Kelly’s late 1980s song 'Leaps and Bounds', with the band filmed performing on top of the tower.</span></p>
<p><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/2018/1/25/nylex.jpg" alt=""></p>
<p>This week the City of Yarra Mayor Daniel Nguyen said it was disappointing that Council’s concerns about the scale of the Nylex site development were not reflected in VCAT’s final decision.</p>
<p><span>Stage one is progressing with prices in </span>the <a href="http://maltdistrict.caydon.com.au/coppins-corner/" target="_blank">Coppins Corner</a> building starting from $496,000 for its one bedroom apartments; two bedroom apartments from $660,000, three bedroom apartments from $1,242,000 and SOHO apartments from $1,570,500.</p>
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Nylex site finally gets chance to proceed in leaps and bounds

<html><body>
<p><span>A Maylands, Adelaide property has been listed with $1.45 million to $1.55 million price expectations.</span></p>
<p>The<a href="https://www.realestate.com.au/property-house-sa-maylands-127345778" target="_blank"> low-maintenance family home</a> was built in 1998 by Alan Shepherd Constructions.</p>
<p>Divided into two wings with three bedrooms and two bathrooms to one side of the entry foyer and living areas on the other, the single-level property at 5a Augusta Street has been recently refurbished.</p>
<p>It comes with 10kw of solar power and battery back-up.</p>
<p><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/2018/1/25/adelaide%20trophy.jpg" alt=""></p>
<p>"<span>A staggering 10kw of solar power has been added, along with battery back-up for guaranteed power," advised the marketing.</span></p>
<p>There’s a stone kitchen with Ilve appliances and both formal and informal dining areas.</p>
<p><span>The large living room is complete with an oversized ceiling fan in the concave ceiling.</span></p>
<p>Cynthia Sajkunovic of Ouwens Casserly is seeking offers by February 8.</p>
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Battery backup at solar powered Maylands, Adelaide home offering

<html><body>
<p><span>China's Wanda</span><span> Group headed by the tycoon Wang Jianlin has </span><span>sold its One Circular Quay development, along with</span> its Gold Coast Jewel development.</p>
<p><span> Wanda Australia's managing director, John Wei, negotiated the sale of the </span><span>Circular Quay</span><span> site (above).</span></p>
<p><span><span>Wanda</span><span> started demolishing the Gold Fields tower at No.1 Alfred Street for a mixed-use scheme incorporating a five-star </span><span>Wanda</span><span> Vista Hotel, 190 exclusive private residences, and boutique retail premises last November having paid $425 million three years earlier.</span></span></p>
<p><span>It had been seeking prestige apartment buyers at One Circular Quay since last October, but the display suite has been closed to most inquiry over the Christmas break.</span></p>
<p>The Jewel (below) sales had been slow since 2015 at the project which Ridong has also sold out of this week.</p>
<p>Dalian Wanda Group announced the sale of their two Australian property projects as the Chinese firm looks to lessen financial strains caused by a major acquisition spree. </p>
<p><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/2018/1/25/GC%20WANDA.jpg" alt=""></p>
<p>China’s regulators last year told banks to stop providing funding for several of the conglomerate’s overseas acquisitions, sources have said, prompting a string of asset sales by Wanda, whose businesses range from real estate to football and cinemas, including Hoyts. </p>
<p>The two high-end residential and hotel projects under development have been sold at around cost. </p>
<p>No buyer has been revealed, although The Australian newspaper reported last week that property developer Yuhu, which is backed by Chinese investors, had entered into exclusive talks with Wanda to buy the assets in a deal at around A$1 billion. <span>Yuhu</span><span> has consistently denied its involvement in any purchase.</span></p>
<p>Shares in Wanda Hotel Development Co Ltd, which owns the projects, are in a trading halt.</p>
<p>The sale of the Australian projects comes after Wanda’s announcement last week that it had agreed to sell its interests in the high-profile London luxury development project, One Nine Elms, for 59 million pounds ($81 million).</p>
<p>The Chinese conglomerate Dalian Wanda Group advised last weekend its revenue dropped for a second consecutive year, by 10.8 percent in 2017.</p>
<p>It reported 227.4 billion yuan in revenue, while net profit remained flat compared with 2016, according to a statement posted on the company’s website. It did not reveal the profit figure. </p>
<p>In middle of 2017, Wanda came under the scrutiny of China's banking regulator for posing "systemic risks" to domestic lenders with its overseas deals.</p>
<p>The Chinese authorities viewed some of its acquisitions as "irrational" and a method for moving capital out of the country.</p>
<div>
<div class="object- fb">
<div class="object-">
<div class="image-side">
<p class="img-caption">Wang Jianlin, chairman of Dalian Wanda Group claimed that only 7% of Wanda's assets were located overseas.</p>
<p class="img-caption">"Wanda Group will never have any default globally," Wang, a former soldier, said.</p>
</div>
</div>
</div>
</div>
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Gold Coast Jewel and Sydney's One Circular Quay development sold by Wanda

<html><body>
<p><span>Olivia Wokes - who bills herself as a <span>results-focused consumer marketing professional - </span>has quit the McGrath estate agency.</span></p>
<p><span>She was the head of marketing for the veteran agent John McGrath for the past year and seven months.</span></p>
<p><span>Her departure to Deloitte, the global management consultancy, was announced today by John McGrath's older brother, Matt McGrath, who has been Deloitte's c</span>hief marketing officer since last May.</p>
<p><span>Wokes joined the McGrath agency in July 2016 from Channel 10 where she worked with Matt McGrath, who was also a marketing </span>adviser for his brother's business for 27 years until late 2016.</p>
<p><span>Her appointment to McGrath came a month prior to McGrath's current chief executive Cameron Judson, who is soon to depart.</span></p>
<p><span>Judson came </span>onboard at McGrath in August 2016 to replace the seven year <span>chief operating officer </span><span>Geoff Lucas</span><span> who was off to become the chief operating office at the artisan bread maker and café group </span><span>Sonoma, which he lead for one year and one month.</span></p>
<p><span><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/2018/1/24/Olivia.jpg" alt=""></span></p>
<p> </p>
<p>Wokes, with experience in television, print and digital brands, bills herself has having an intrinsic understanding of advertising strategy and consumer marketing.</p>
<p>Her two year time at the Network Ten saw Wokes "spearhead" a strategy that resulted in market share growth for the television company which is freshly out of its days in administration.</p>
<p>For the prior two years, Wokes had been the marketing manager at the now axed <span>FAMOUS, the weekly magazine published by Pacific Magazines.</span></p>
<p> </p>
</body></html>

John McGrath's senior marketing executive hired by McGrath's brother 

<html><body>
<p data-reactid="56">The car racing property developer, Ash Samadi allegedly owes 19 tradies and businesses more than $900,000 from work on his Surry Hills residential/hotel project, Botanik.</p>

<p data-reactid="56">Samadi, who races a $680,000 Audi, <a href="https://www.9news.com.au/national/2018/01/23/18/32/high-flying-developer-owes-nearly-one-million-dollars-tradies-claim" target="_blank">was exposed on last night's A Current Affair</a>, who spotted him coming out of Bunnings Clovelly wheeling a wheel barrow needed for one of his latest projects.</p>

<p data-reactid="56">Builders, carpenters, electricians, and pavers are among those who say Samadi owes them collectively a $911,200 at Surry Hills.</p>

<p data-reactid="56">[smartcode_project:default project_id=89193]</p>

<p data-reactid="56">The liquidator's report advises that the company advised there were cost overruns on the project, "with a former director making unauthorised approval of a number of contract variations who had ignored the protocol of pre-seeking the consent to cover overruns from the Samadi Immobilier Trust."</p>

<p data-reactid="56">Ash Samadi was described by the liquidator as a "shadow or de facto director."</p>

<p data-reactid="56"><img alt="" src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2018/1/24/sam0.jpg"></p>

<p data-reactid="91">Confronted by <em>A Current Affair</em>, Samadi said the alleged complaints would have to be settled in court.</p>

<p data-reactid="91">Rather than head off in his Mecedes Jeep, he alighted a bus towards the Junction, albeit without an Opal card.</p>

<p data-reactid="91">One business did take on the Samadi Trust in court and won a judgement for $29,000, however, the Immobillier company where Samadi was a former director has been placed into liquidation and the money owed never paid.  </p>

<p data-reactid="91"><img alt="" src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2018/1/24/wheel.jpg"></p>

<p data-reactid="91">The Samadi Group have four projects in Surry Hills, three next door to each other on Elizabeth Street, and the other nearby on Foveaux Street.</p>

<p data-reactid="91">Samadi lives in a $16.5 million home in Sydney's Point Piper, which was briefly listed for sale last year. It was passed in at $16.5 million. It was bought in his mother's name.</p>

<p data-reactid="91">The Samadi Immobilier company has made loans to Samadi, with a loan from his mother totalling just over $5.55 million. </p>

<p data-reactid="91">There is accordingly $5.95 million owing to creditors arising from the liquidation of the Samadi group.</p>

<p data-reactid="91"><img alt="" src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2018/1/24/bus%20samadi.jpg"></p>

<p data-reactid="91">The liquidator noted the complex arrangements, suggesting that as far as he was aware, there is no formal contract between the company and the owners of the Surry Hill development properties.</p>

<p data-reactid="91">"Despite this the company may have a 'quantum meruit' claim against those entities. Quantum meruit is an action for payment of the reasonable value of services performed where there is no formal contract," liquidator Gavin Morton at Morton's Solvency Accountants told creditors.</p>

<p>Established in 1988, the Samadi group was formed as a small family business. </p>

<p>Designed by Brenchley Architects and Quattro Interiors, the Botanik building was listed last year for sale through Miron Solomons, Gus Moors and Matt Pontey of Colliers International with a price guide of over $25 million.</p>

<p>Last year the SMH reported <span>Apartment Hotels had signed a 10-year lease in the new development at 533-535 Elizabeth Street, Surry Hills.</span></p>

<p><img alt="" src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2018/1/24/sam2.jpg"></p>

<p>It comprised 22 high-end apartments comprising a mix of one-, two- and three-bedroom apartments and two ground-floor retail tenancies and a rooftop terrace area with 15-metre pool and other facilities.</p>

<p>The operators have also committed to spending a further $1.7 million on furniture and fit out in the newly developed building, the newspaper reported.</p>

<p>It is next to the apartment block where the Samadi Trust cancelled its off the plan sales to prior buyers. </p>

<p>Some of the apartments are currently <a href="https://www.realestate.com.au/property-apartment-nsw-surry+hills-126103530" target="_blank">for sale through BresicWhitney.</a></p>

<p> </p>
</body></html>

ACA exposes Ash Samadi allegedly owing nearly $1 million on Surry Hills project

<p>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.</p>

<p>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.</p>

<p>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.</p>

<p>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.</p>

<p>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.</p>

<p>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.</p>

<p>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.</p>

<p>Central Element Managing Director Nathan Chivas said the project would address a shortage of new owner-occupier housing opportunities in Drummoyne.</p>

<p>"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.</p>

<p>"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."</p>

<p>The development application has been lodged with the City of Canada Bay Council, with the project expected to launch to market in early 2027.</p>

<p>&nbsp;</p>


Joel Robinson

Central Element seeks second Drummoyne apartment development

<p>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.</p>

<p>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.</p>

<p>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.</p>

<p>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.</p>

<p>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.</p>

<p>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.</p>

<p>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.</p>

<p>Further north, the NSW Government is also progressing plans for the former Kiama Depot site, a two-hectare parcel near Kiama's town centre.</p>

<p>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.</p>

<p>Planning Minister Paul Scully said the proposals are designed to increase housing supply in locations close to jobs, transport and services.</p>

<p>"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.</p>

<p>"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.</p>

<p>"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."</p>

<p>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.</p>

<p>Community consultation on the proposals is now underway, with feedback set to inform the final planning controls before the rezonings are determined.</p>


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

<p><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.</p>

<p>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.</p>

<p><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.</p>

<p>[smartcode_project:default project_id=134403 project_image_fid=350663]</p>

<p>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.</p>

<p>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.</p>

<p>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.</p>

<p>[smartcode_project:default project_id=134403 project_image_fid=372756]</p>

<p>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.</p>

<p>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.</p>

<p>Binah's Managing Director Khalil Hafza said partnering with MRCB on Maris is a significant moment for Binah.</p>

<p>"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.</p>

<p>"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."</p>

<p>[smartcode_project:default project_id=134403 project_image_fid=350664]</p>

<p>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.</p>

<p>"Commencing construction at Maris is a significant step and reflects the depth of demand for quality apartments in well-connected urban locations," said Krishnan.</p>

<p>"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."</p>

<p>[smartcode_project:default project_id=134403 project_image_fid=372761]</p>

<p>Krishnan said Southport's ongoing transformation, supported by infrastructure investment and long-term planning, was underpinning renewed buyer confidence.</p>

<p>"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."</p>

<p>Construction at Maris is anticipated to be completed in 2029.</p>

<p>[smartcode_project_cta:default project_id=134403]</p>


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

<p>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.</p>

<p>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;</p>

<p>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.</p>

<p>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;</p>

<p>[smartcode_project:default project_id=142519 project_image_fid=372786]</p>

<p>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;</p>

<p>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;</p>

<p>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.</p>

<p>"Buyers continue to be predominantly hyperlocal and attracted by the 40 hectare botanic masterplan in Melbourne’s inner north west," Hameister said.</p>

<p>[smartcode_project:default project_id=142519 project_image_fid=372788]</p>

<p>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.</p>

<p>"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.”</p>

<p>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.</p>

<p>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.</p>

<p>[smartcode_project_cta:default project_id=142519]</p>


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

<p>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.</p>

<p>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.</p>

<p>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.</p>

<p><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" /></p>

<p>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.</p>

<p>Bureau Proberts has drawn heavily on Newstead's industrial heritage in developing the architectural response.</p>

<p>"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.</p>

<p>"It is conceived as a subtropical sanctuary and elevated private retreat embedded within one of Brisbane's most vibrant lifestyle precincts."</p>

<p>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.</p>

<p><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" /></p>

<p>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.</p>

<p>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.</p>

<p>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.</p>

<p><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" /></p>

<p>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.</p>

<p>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.</p>

<p>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.</p>

<p>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.</p>


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