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The week’s preliminary clearance rate sat around 69%, according to CoreLogic’s latest report.
The property data firm says that auction volumes were slightly down compared to last week’s.
There have been 1,840 capital city auction results reported to CoreLogic so far this week, resulting in a preliminary auction clearance rate of 69.1 per cent across the combined capital cities.
There were a total of 2,323 capital city auctions held this week, down from the 2,444 held last week.
<a href="https://www.propertyobserver.com.au/images/2017/06/26/Screen%20Shot%202017-06-26%20at%202.21.26%20pm.jpg" target="_blank">Click to enlarge</a>
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This week’s preliminary result indicates that clearance rates are continuing to soften, after last week saw the final clearance rate surpass the previous week as the lowest recorded over the year to date across the combined capitals (66.7 per cent).
With results still being collected, it is likely that the final clearance rate this week will revise even lower again.
<a href="https://www.propertyobserver.com.au/images/2017/06/26/Screen%20Shot%202017-06-26%20at%202.21.33%20pm.jpg" target="_blank">Click to enlarge</a>
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However, compared to results from one year ago clearance rates are relatively similar with the 67.4 per cent rate of clearance across a slightly lower volume of auctions (2,183).
Melbourne’s preliminary clearance rate increased to 71.9 per cent this week, up from last week’s final of 71.0 per cent, when the lowest clearance rate since July last year was recorded.
Auction volumes decrease slightly with 1,050 auctions held over the week, down from 1,129 over the previous week.
At the same time last year, the clearance rate was 68.3 per cent across 1,085 auctions.
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Looking at Melbourne’s sub-regions, the Mornington Peninsula region was the best performer in terms of clearance rates, with an 87.2 per cent success rate across 44 auctions, followed by the North West region, where 79.5 per cent of the 90 auctions sold.
Across Sydney, 918 homes were taken to auction this week with the preliminary clearance rate for the city above 70.0 per cent (73.1 per cent).
After last week saw the final clearance rate drop even lower for the 3rd week in a row, with 66.7 per cent of the 927 auctions clearing.
One year ago, 768 Sydney homes were taken to auction and the clearance rate was 73.4 per cent.
<a href="https://www.propertyobserver.com.au/images/2017/06/26/Screen%20Shot%202017-06-26%20at%202.22.40%20pm.jpg" target="_blank">Click to enlarge</a>
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Sydney’s North Sydney and Hornsby region hosted the most auctions of any Sydney sub-region this week, with 150 properties taken to auction.
The preliminary clearance rate for the region is 84.3 per cent across 108 results.
The preliminary clearance rate in Brisbane this week was 30.7 per cent, down from 46.4 per cent over the previous week.
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Auction volumes were lower this week with 129 auctions held, down from 151 last week.
Meanwhile, across the Gold Coast, 31.8 per cent of the 22 reported auctions were successful.
A total of 101 Adelaide homes were taken to auction this week, with a preliminary clearance rate of 67.6 per cent across 68 results, down from 69.5 per cent last week when 103 auctions were held across the city.
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In Perth, 54 auctions took place this week, with 25 results reported so far.
Perth’s preliminary clearance rate of 36.0 per cent across these 25 results is higher than both last week’s result (32.3 per cent) and the clearance rate from one year ago (31.9 per cent).
Canberra’s preliminary auction clearance rate of 73.9 per cent this week is higher than last week, when the final auction clearance rate was 50.8 per cent and higher than the 61.0 per cent recorded last year.
There was only 7 Tasmanian auctions held this week. 1 were reported as sold.
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j.ballantyne1990-6AQqhLzZaK

Late June clearance rate continues to trend below 70%: CoreLogic

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A vast three level house at Sovereign Islands has been listed for sale.
The <a href="https://www.realestate.com.au/property-house-qld-sovereign+islands-125387638" target="_blank">three bedroom house</a> is situated in a quiet cul-de-sac location and has views over the Broadwater and the hinterland.
It sits on a 1000 sqm block of land.
An al-fresco features entertaining terrace that includes an outdoor kitchen, BBQ and mosaic tiled pool with 25 metre water frontage plus a 22 metre pontoon.
Floor plan features a free-flowing formal and informal living areas including sitting rooms, lounge, dining room and home office.
Kitchen has a butler’s pantry and Miele appliances.
There is also a large home theatre plus rumpus room on the third floor.
<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/2017/06/26/Broadwater-2.jpg" alt="">
Master suite has its own walk-in robe, ensuite bathroom and private balcony with water views.
Other bedrooms are equally spacious and also have their own ensuites and balconies.
Other features includes triple auto garage and additional parking.
Broadwater, parks and the vibrant village of Paradise Point are all a moments away from the property.
The property is offered through Savills agent Lisa Halpin.
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Three level Sovereign Islands house listed

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Developer Ideal Property Australia is constructing its $70 million Toowong-based luxury riverfront building, Banc Apartments, in a show of confidence in the Brisbane apartment market.
Ideal has engaged McNab as preferred contractor to commence operational works and design of early works for the 15 level tower.
Around 65 per cent of the 33 luxury residences are already sold.
McNab is a leading Brisbane-based construction company with 21 years experience in delivering high-end residential, retirement and commercial developments.
Key projects include the University of Queensland Global Change Institute which was awarded best sustainable development in Australia by the Property Council in 2016 and the Village at Coorparoo, awarded best Seniors Living in Australia by the Property Council earlier this year.
Banc's remaining apartments include a garden home with a private 227sqm riverfront terrace plus three bedroom river homes and sky homes with prices starting from $1.39 million.
Those in the market for a penthouse-style residence can secure the full-floor, 455sqm Sky Mansion atop the building, with the option to work with award-winning WMK Architecture and SJB Interiors to customise the abode at no additional cost.
Ideal Property has recently released a second full floor option as an alternative to the Sky Mansion, priced from $4.45 million.
Ideal Property director John Li says the timing is right to push ahead with the project, which is the only new tower being developed along the riverfront Coronation Drive and one of only a handful in Brisbane to offer half and full floor residences in a boutique building.
"I believe the Brisbane market still has a lot of potential and there evidently is solid demand - for the right type of property," Mr Li said.
"Banc has been successful because it represents a return to the golden age of riverfront luxury development, with apartments equivalent in size to an average home, complete with top shelf finishes and panoramic views that can never be built out.
"Banc's Sky Homes offer up to 231sqm of living space and residents will have exclusive access to a pool, barbeque terrace and winebanc - a purpose-built wine cellar with a 195 bottle wine storage fridge for each apartment."
Mr Li says he anticipates the final residences in Banc will sell on the back of the Federal Governments' new incentive for downsizers, which allows those aged over 65 to sell the family home and inject up to $300,000 into their superannuation account.
"At this stage we are aiming for Banc to be complete in late 2018, which gives purchasers enough time to sell their existing property and prepare to start the next chapter of their life.
Place Estate agent Simon Caulfield, is marketing the project.
Banc is located at 527 Coronation Drive, Toowong, and accessible via 7 Land Street.          
For project details, please visit <a href="https://www.propertyobserver.com.au/bancliving.com" target="_blank">bancliving.com</a>
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Banc, Brisbane’s newest riverfront tower set to start construction

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Work on the tallest engineered timber office building in the world, in Brisbane, was launched with much fanfare with the Acting Premier and Minister for Infrastructure and Planning Jackie Trad joining the show. 
Listed property group Lendlease’s first engineered timber office building in Queensland, 25 King (earlier 5 King), was acquired by Impact Investment Group (IIG) earlier this year, its second commercial building acquisition in the $2.9 billion Brisbane Showgrounds redevelopment.
The nearly 45 metre tower will have ground floor retail plus nine storeys, and has been designed by architect Bates Smart. It will become the future home of engineering firm Aurecon.
It is being built using a revolutionary building timber technology called cross laminated timber (CLT) and glulum (glue laminated timber) which has a structural strength akin to traditional concrete and steel.
CLT has a much lower carbon footprint than other building materials, the production process produces zero waste, and timbers are sourced from certified sustainably managed forests, according to a media release.
The tower, when completed in late 2018, will have controlled lighting, heating and cooling from a single interface, and large glass areas will maximise natural daylight.
Lendlease is building the asset and will work with its partners to lease the nearly 7,900 sqm of remaining office space.
Lendlease managing director, Urban Regeneration, Mark Menhinnitt said the company was focused on delivering the next generation of sustainable workplaces with state-of-the-art technology in Queensland.
“25 King is set to become the tallest and largest engineered timber office building in the world which is a wonderful achievement for the Brisbane Showgrounds precinct.
It will be Lendlease’s fifth engineered timber building in Australia and joins International House Sydney, Forte Apartments and Library at The Dock in Melbourne, and Jordan Springs Community Hub in Western Sydney.
Acting Premier Jackie Trad said 25 King was breaking new ground in its use of structural timber in a building of its type and size.
“This is a great example of the type of development we’ll be seeing more of in the future, and it puts Queensland at forefront of cutting edge sustainable construction practices,” she said.
The tower will larget a 6 Star Green Star Design and As Built v1.1 and a NABERS Energy 5 Star rating.
Chris Lock, CEO, Impact Investment Group said 25 King is a great demonstration of how IIG invests in property.
“We look for property investments with excellent potential for environmental sustainability; where we can fund best-in-class construction, or actively manage existing properties to drive energy efficiency and very positive social outcomes.”
 
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Construction starts on world’s tallest engineered timber office building in Brisbane

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There is a growing trend for small retail spaces in the Melbourne CBD, according to valuation firm Herron Todd White.
The property investment firm said in a report that there is also a trend of low to medium mixed use properties in the inner ring of Melbourne.
In Melbourne’s CBD and within the 15 kilometre inner ring from Melbourne’s CBD, there are two entry level price categories currently popping up in the retail market, said the report.
“Firstly, within Melbourne’s CBD, there is a growing trend for very small retail spaces to be created in areas that were previously not used for retail purposes," said HTW.
“For example, only late last year, a small 20 square metre cafe known as Saluministi was created in Flinders Lane, in the base of an existing carpark, where a tenant entered in to a new five-year lease at $35,000 per annum on a gross rental.
“Similarly, in Equitable Lane within a narrow space being the former foyer of a commercial building, a new coffee shop known as Heresy was created utilising an area of 22 square metres at a starting annual gross rental of $40,750 per annum."
While these spaces are not yet for sale, they are being created in more inventive, small retail spaces and when made available for sale, are likely to be at prices below $1 million.
“This is an affordable entry level for Melbourne’s CBD and we would expect yields of between 3% and 4% for these assets."
“Secondly, given the trend of low to medium rise mixed use retail/residential developments in the inner ring of Melbourne we are seeing a number of small sub-100 square metre retail premises selling in the current market in these locations,” the report stated.
These properties are either new or currently under construction, according to HTW.
“These isolated retail premises, generally sit below new, or currently under construction, residential apartment complexes and generally offer a food/coffee option for existing and nearby residents in this specific location."
“For example, in one recent off-the-plan sale in Elland Avenue, Box Hill, a 100 square metre retail shell just sold for $600,000 excluding GST. Based on a hypothetical rental of $30,000 per annum net, and after deducting appropriate letting up allowances and adjustments for non recoverable outgoings, this sale price shows a yield of approximately 4.75%."
It said such examples abound in these inner to middle suburban locations and are expected to be available in the foreseeable future.
“At present we are seeing yields in the order of 4% to 5% for these small retail orientated strata assets."
“The lower price retail sector of the Melbourne market is performing well and we expect this trend to continue in the short to medium term,” the report said.
A retail corner property at <a href="https://www.realcommercial.com.au/property-retail-vic-collingwood-502356550" target="_blank">9-15 Little Oxford Street</a>, Collingwood (above) has been listed for sale.
 
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Melbourne CBD sees a growing trend of small retail spaces: HTW

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A business park penthouse in Sydney’s Macquarie Park has sold for a record $5.6 million.
The apartment atop Romeciti's latest residential project, Natura, was snapped up by a foreign buyer, according to The Australian Financial Review.
The buyer, a downsizer from Dural,  exchanged the contract for the 173 square metre apartment last week before the project's launch on June 24.
At the selling price, the land rate works out to be $32,000 a sqm.
Romeciti’s 357-apartment Natura project in Macquarie Park saw 88 percent of its first stage launch of 210 apartments sold. The total sales valued at $210 million.
Business parks such as Macquarie Park and Norwest have changed from staid suburbs to lifestyle precincts, helped by Sydney's population boom and urban renewal.
But with their popularity, prices have surged, such as another recent sale of  a “business park apartment" — the $3.1 million penthouse at church group Hillsong and Capital Corporation's Esplanade project, 40 kilometres north-west of Sydney CBD.
Romeciti's "grand penthouse" record price is being attributed to its panoramic views and high end finishes.
The three-bedroom three-bathroom apartment will be laid over two levels and has six-metre living room ceiling heights as well as two car spaces.
All six Grand Penthouses have been sold prior to launch, Property Observer noted.
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Business park penthouse in Macquarie Park snapped up for $5.6 million

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Commercial property sales have increased in the past three months in Perth, according to CoreLogic’s latest Cityscope.
The property data firm says that sales recorded in the quarter to June 2017 totalled $171.5 million, a large increase from the March 2017 quarter which totalled $43.7 million, but a decrease from the $251.1 million recorded in the three months to December 2016.
The data brings the 12-month total to $623.6 million, a decrease from the $1.834 billion recorded the same time last year.
The table below shows sales recorded for the past eight updates of Perth Cityscope:
<a href="https://www.propertyobserver.com.au/images/2017/06/09/Chart-1.jpeg" target="_blank">Click to enlarge</a>
<img src="https://www.urban.com.au/images/2017/06/09/Chart-1.jpeg" alt="">
Notable sales in the June 2017 update of Perth Cityscope include:
<ul>
<li>The Novotel Langley Perth Hotel, at 221-227 Adelaide Terrace, Perth, a 4.5-star, 14 level building with 256 rooms and 5 convention rooms, plus lower ground and basement parking for 98 cars; opened in 1987 and refurbished in 2006, which sold for $73.5 million;</li>
<li>The Crowne Plaza Perth Hotel, at 54-56 Terrace Road, East Perth, a 191-room hotel of 13 storeys which was refurbished in 1998 at an estimated cost of $11 million to include an eight-storey rear extension, which sold for $50 million and</li>
<li>Compass 26, at 1-5 West Street, West Perth, a four-storey office building with 3,935 sqm of office space, situated above 1.5 levels of car parking for 58 vehicles, which sold for $21 million.</li>
</ul>
<a href="https://www.propertyobserver.com.au/images/2017/06/09/Chart-2.jpeg" target="_blank">Click to enlarge</a>
<img src="https://www.urban.com.au/images/2017/06/09/Chart-2.jpeg" alt="">
Properties listed for sale in the June 2017 update of Perth Cityscope include:
<ul>
<li>SGIO Building, at 42-46 Colin Street, West Perth, a five-level office purpose-built for the insurance company, completed in the third quarter of 2002 with a net lettable office space of 8,872 sqm and basement parking for 161 cars, the long term leasehold is for sale by expressions of interest  through Knight Frank and Ray White Commercial;</li>
<li>42 Bennett Street, East Perth, consisting of a mostly single-storey, partly two-storey, retail building, plus a paved parking area for 31 cars on a 958 sqm site for sale through Burgess Rawson and Lease Equity and</li>
<li>143 Barrack Street, Perth, a three-storey building, once Phineas Seeligson’s City Loan Office, erected 1908, for sale through Colliers International.</li>
</ul>
Significant leasing opportunities in the June 2017 update of Perth Cityscope include:
<ul>
<li>68 Milligan Street, Perth, an office building of two storeys above lower ground parking for 27 cars with net lettable area 1,940 sqm, which has office space of  500 to 1,900 sqm for lease through Colliers International;</li>
<li>45 St Georges Terrace, Perth, comprising nine floors of office space, two basement levels and net lettable area of 10,017 sqm, which has office space from 200 to 2,400 sqm for lease through CBRE and JJL Perth and</li>
<li>Golden Square at 32 St Georges Terrace, Perth, a 16-storey commercial building with basement and open car park for a total of 56 car; built in 1967 and redeveloped at an estimated cost of $100 million in early 2015 which included increased floor plate sizes, internal layout modification and a new glass-clad facade, which has office space ranging from 674 to 7,911 sqm for lease through JLL Perth and Knight Frank.</li>
</ul>
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Perth CBD property sales rise in the quarter to June: Cityscope

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An office space on the fringe of the Tweed Heads CBD in far north coast NSW has been leased by Ray White Commercial.
The nearly 52 sqm space at <a href="https://www.raywhite.com/nsw/tweed-heads/1604406/?lang=en" target="_blank">3/28 Recreation Street</a> was leased to Changing Homes Australia by Darren Jones of Ray White Commercial GC South on behalf of a private owner.
The property has been leased for one year at a net rental of $14,872 per annum.
“This was an appealing office suite in a popular and well-presented complex,” Jones said.
The property recently underwent a makeover. The tenancy has a glass front reception area, work space and a storage area.
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Office space in Tweed Heads leased

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Rockhampton’s retail market is expected to continue in line with activity seen throughout 2016, according to a recent report by property valuation firm Herron Todd White report.
“While we anticipate that general real estate markets may improve in 2017, there is likely to be continued downward pressure on retail rentals and a strong presence of incentives given the current high vacancies in this sector in Rockhampton,” the report said.
In spite of this, well anchored centres with good access and exposure are anticipated to hold their rental values.
"Whilst the independent local retailers appear to be bearing the brunt of local economic conditions, we are aware that major retailers and supermarket chains continue to search for key sites in Rockhampton for possible expansion, which provides a more positive outlook for 2017," the report said.
Investors are actively looking for retail properties, but are sensitive to tenant strength and unexpired lease term/WALE of properties.
Evidence of this sensitivity has been seen recently on a neighbourhood retail centre which was under contract on a circa 10% yield, said HTW.
"This contract has subsequently fallen over due to a tenant not exercising an option," the report stated.
"Demand for speciality retail tenancies in neighbourhood shopping centres in Mackay is moderate and vacancy rates have increased. This has been caused by the local economic downturn."
Local sitting tenants in neighbourhood shopping centres have negotiated nominal rental reductions on market review.
“We are not aware of any new leases in these centres in Mackay over the past year. There is a risk that market rentals could ease as landlords lose their tolerance for vacancies,” the report cautioned.
HTW pointed out that a notable retail sale was the IGA West Mackay complex in December 2016 at $9.25 million to show an analysed market net yield of approximately 7% after allowance for the value of a vacant site included in the transaction.
The complex was completed in 2013 and is anchored by IGA (Metcash) with other tenants including BWS (Woolworths) and Sullivan Nicolaides Pathology (Sonic Health Care).
It sold with a very long WALE of 14.76 years which was strongly influenced by the IGA lease which expires in 2033.
"The sale is consistent with national demand for good quality lease covenants particularly to non-discretionary (supermarket) retailers," it said.
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Rockhampton retail market to continue as is while demand for tenants in Mackay rises: HTW

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A waterfront property in Melbourne’s Williamstown with a permit for an additional townhouse permit has sold under the hammer for $1.94 million.
It sold on a sharp yield of 3.1 percent.
The <a href="https://www.realcommercial.com.au/property-retail-vic-williamstown-502370562" target="_blank">227 Nelson Place</a> property comprises a two-level building with a ground floor retail space and a two-bedroom residence, and an approved permit for an additional three-level luxury townhouse at the rear.
The winning bid was well over expectations, indicating the keen interest in inner-city locations. 
The 183 sqm property was sold with leases to two longstanding tenants, returning $60,349 per annum plus GST. It is zoned Commercial 1.
The selling agents were James Lockwood and David Bourke of Fitzroys, along with James Gregson and Michael Ryan of Allard Shelton.
Lockwood said the property was well suited for investment due to its inner-city location.
“The property is located in a superb waterfront position opposite Williamstown marina, providing city and water views, in a superb retail and lifestyle precinct,” he said.
Lockwood also said the $450 million Waterline apartment and townhouse development by AVJennings will bring an extra 2,000 residents to the immediate area, and should trigger further similar developments that would further improve the strong existing retail conditions for the Williamstown area.
 
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Waterfront building with retail in Williamstown fetches $1.94 million at auction

A trio of Queensland property groups have unveiled plans for a $300 million mixed-use redevelopment of the former Noosa Bowls Club site, a proposal that would deliver more than 200 new homes in one of the Sunshine Coast's most supply-constrained markets.

Kilter Property, Frank Developments and Calile Malouf Investments are behind the plans for the 1.8-hectare site at <a href="https://www.apartments.com.au/new-apartments/99-noosa-drive-noosa-heads-qld-4567">99 Noosa Drive</a>, which would transform the long-vacant site into a new residential precinct featuring 208 apartments, retail, hospitality and public space.

The proposal comes as Noosa continues to grapple with housing affordability and a shortage of permanent accommodation, particularly for key workers. The site's location in Noosa Junction, close to shops, public transport and employment, aligns with the direction of Noosa Council's Housing Strategy, which encourages higher-density housing within established activity centres rather than continued urban expansion.

The draft plans include 48 affordable-by-design apartments and 48 rooming accommodation units aimed at key workers. Around 2,000 sqm of ground-floor retail and food and beverage space would activate the street frontage, alongside a new public town square and landscaped open space.

<img alt="Noosa" data-entity-type="file" data-entity-uuid="2dd02f53-1360-4e51-801e-bfd61a6c980e" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-06-26%20at%208.44.34%E2%80%AFPM.png?VersionId=x1iNs3BSMN6Jy7YUwaBZMHRrrKX2hMpy" />

&nbsp;

Frank Developments Founder and Director Frank Licastro said the development would continue the company's focus on architecturally-led residential projects while addressing one of the region's biggest challenges.

"Not only will this project exude a sense of luxury, it will also enhance not only the built environment but also the surrounding community," Licastro said.

"Noosa's success relies on the people who live and work here. Providing well-designed accommodation for key workers is critical to supporting the local economy and ensuring the Shire can continue to thrive."

Kilter Property Co-Founder Huw Williams said the focus was on delivering additional permanent housing while creating a mixed-use destination that benefits both residents and the wider community.

"Our focus is on delivering a well-considered mixed-use project that provides more permanent housing options, supports local workers and businesses, and delivers an exceptional product for the local market," Williams said.

"The redevelopment vision aligns with the long-term evolution of Noosa Junction as a vibrant activity centre, creating a destination that enhances the area's character while delivering significant economic and community benefits."

Calile Malouf Investments, best known for its role in Brisbane's James Street precinct and The Calile Hotel, will bring its place-making experience to the project. The company recently commenced construction on The Calile Noosa hotel and says the residential development will complement its growing investment in the region.

CMI Director Cal Malouf said the aim was to create a walkable precinct combining housing, retail and hospitality while remaining true to Noosa's character.

"We see a similar opportunity in Noosa to deliver a vibrant, walkable destination that combines exceptional housing, hospitality and retail in one integrated project," Malouf said.

Brisbane-based Cavill Architects has been appointed to design the project.

Joel Robinson

Noosa Bowls Club to be redeveloped into mixed-use apartment precinct

One of Brisbane's last major riverfront redevelopment opportunities has taken a significant step forward, with Lendlease selected as the Queensland Government's preferred development partner for the former Visy site in South Brisbane.

The seven-hectare industrial site, positioned between South Bank and West End and 1.3 kilometres from the Brisbane CBD, will be transformed into a mixed-use precinct expected to deliver more than 4,000 new homes alongside extensive public open space and riverfront parkland.

The project is one of the largest urban renewal opportunities currently planned in Brisbane and is expected to play a key role in accommodating the city's growing population ahead of the 2032 Olympic and Paralympic Games.

Plans for the precinct include a network of riverfront promenades and boardwalks, new public plazas, parkland, amphitheatre-style gathering spaces and shared pedestrian and cycling links designed to reconnect the long-isolated site with the Brisbane River.

The Queensland Government is targeting delivery of the first homes and key public spaces before the 2032 Games, allowing the precinct to begin contributing new housing and public amenity well before the broader masterplan is complete.

The redevelopment is also expected to support more than 3,000 jobs across planning, construction and ongoing operations.

For Lendlease, the appointment adds another major urban regeneration project to its Queensland portfolio. The developer has operated in the state for more than 70 years and has delivered a number of large-scale mixed-use precincts in partnership with government.

Lendlease Development CEO Claire Johnston said the project represented one of Brisbane's most significant redevelopment opportunities.

"The transformation of the former Visy site represents a rare opportunity to reimagine one of Brisbane's most significant riverfront locations, deliver thousands of much-needed homes, and create long-term legacy," Johnston said.

"In partnership with the Queensland Government, we have the opportunity to create a new riverside destination that will help shape Brisbane's growth and how people experience the city for decades to come.

"This is exactly the type of large-scale, city-shaping development that will provide lasting benefits for Queensland, bringing together housing, jobs and world-class public spaces."

Deputy Premier and Minister for State Development, Infrastructure and Planning Jarrod Bleijie said the riverfront transformation would deliver a thriving new community precinct.

“The Crisafulli Government is delivering this golden opportunity to unlock a riverfront jewel for all Queenslanders,” Deputy Premier Bleijie said.

“This is a once-in-a-generation moment to reshape a significant slice of Brisbane and deliver lasting benefits – thousands of new homes, and public spaces for all Queenslanders to enjoy well beyond the 2032 Olympic and Paralympic Games – unlike Labor’s plan which would have delivered zero benefits and zero new homes.

“Queensland is well and truly open for business and through partnership with the private sector, we are accelerating delivery while ensuring strong housing, community and economic outcomes."

Early works on the precinct are expected to commence in April 2027.

Lendlease selected to deliver transformative South Brisbane riverfront precinct

Eddy Haddad's <a href="https://www.apartments.com.au/developers/level-33">Level 33</a> is levelling up its approved Wollongong development, as the coastal city south of Sydney continues to prove popular in the high-density development space.

Level 33, a longtime developer in the Wollongong area, has gone through the NSW Government's Housing Delivery Authority to upsize its approved two-tower development on the corner of Crown Street and Gladstone Avenue, just 100 metres from Wollongong Station.

The developer currently has approval for 252 apartments across two buildings rising to 19 storeys. It is now seeking approval for 33 and 38-storey towers that would deliver 467 apartments, including 67 affordable homes.

Designed by <a href="https://www.apartments.com.au/architects/bka-architecture">BKA Architecture</a>, the development would comprise apartments above a three-level podium with around 1,100 sqm of retail space, along with basement parking for 448 vehicles.

According to the Urban Design Report by BKA, the proposal has the capacity to "reinforce the precinct's identity by strengthening links between health, education, and transport services, while also contributing to Wollongong's ongoing evolution as a key regional centre."

Wollongong is somewhat in vogue. Between Level 33 and Urban Property Group, the two developers have several thousand apartments planned across the city.

Level 33 is currently delivering Easterly Wollongong, one of its most boutique projects to date with just 21 high-end apartments, as well as Atchison &amp; Kenny, a 329-apartment development due for completion later this year.

The developer plans to redevelop the 13,088 sqm WIN Grand megasite into <a href="https://www.apartments.com.au/new-apartments/crown-square-216-238-keira-street-wollongong-nsw-2500">Crown Square</a>, a new $500 million precinct with nearly 600 apartments. It also has more than 900 apartments planned for the former Bunnings Warehouse site at the intersection of Gipps and Flinders streets.

Urban Property Group is also playing a major role in the city's transformation. Its five-tower Keira Place precinct will deliver more than 800 homes, and it has recently lodged plans for a further 300 apartments near Wollongong Station.

First look: Level 33 upsizes Wollongong apartment towers

Just a week after filing plans for the final stage of its major Keira Place masterplan, <a href="https://www.apartments.com.au/developers/urban-property-group">Urban Property Group</a> has unveiled another significant housing proposal in Wollongong, this time targeting a prominent site opposite North Wollongong Station.

The developer has lodged a State Significant Development Application for a 38-storey mixed-use tower at <a href="https://www.apartments.com.au/new-apartments/4-4a-flinders-street-north-wollongong-nsw-2500">4-4A Flinders Street</a>, around one kilometre north of the <a href="https://www.apartments.com.au/new-apartments/keira-place-wollongong-120-122-smith-street-wollongong-nsw-2500">Keira Place precinct</a> currently taking shape on the edge of the CBD.

<img alt="First look: Urban Property Group plans 38-storey North Wollongong tower as Keira Place expansion gathers pace" data-entity-type="file" data-entity-uuid="2b6428f1-6405-4038-8476-897de440e90d" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/flinders%20podium.png?VersionId=QLqEvK0OuCEwRC47oHNftrw2B1YqaHF8" />

Designed by Studio.SC, the proposal comprises a 38-storey mixed-use development containing 303 apartments, including 45 affordable housing units, alongside 174 co-living residences. The scheme also includes ground-floor retail space, extensive landscaping and public domain improvements.

Studio.SC noted in the proposal it "outlines a vision for a landmark transit-oriented mixed-use development centred around North Wollongong Station, designed to support the city’s future growth while responding to the NSW Government’s housing and planning reforms."

The architecture firm said the proposal responds to the opportunities and constraints shaping future growth within the 400-metre catchment of the station and represents "a coordinated and future-focused approach to urban intensification, contributing to the long-term evolution of North Wollongong as a connected, walkable and high-density station precinct."

The site occupies a strategic corner bounded by Flinders Street, Station Street, Stafford Street and the Princes Highway, directly opposite North Wollongong Station.

<img alt="First look: Urban Property Group plans 38-storey North Wollongong tower as Keira Place expansion gathers pace" data-entity-type="file" data-entity-uuid="7863adad-1f71-4022-b850-f44b252738fd" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/flinders%20podium%20a.png?VersionId=WsU7av0g8_8R2tGHWxgHeFSlhu7yeY1V" />

The proposal follows Urban Property Group's recent submission for the second and final stage of Keira Place, which would deliver a further three buildings comprising 657 homes opposite Beaton Park. It builds on the first stage, which features 150 apartments across two towers and recently commenced construction.

Urban Property Group CEO Patrick Elias said breaking ground on the first stage marked a significant milestone for Wollongong and reflected the developer's long-term commitment to regional cities.

"Today's groundbreaking is about turning approvals into homes and moving quickly to deliver much-needed housing in Wollongong's city centre," Elias said.

"Keira Place will provide a diverse mix of homes close to jobs, transport and services, while setting a high benchmark for quality, durability and consumer protection."

Read more:&nbsp;<a href="https://www.apartments.com.au/news/nsw/urban-property-group-unveils-trio-of-towers-for-next-stage-of-new-wollongong-precinct-keira-place">Urban Property Group unveils trio of towers for next stage of new Wollongong precinct, Keira Place</a>

First look: Urban Property Group plans next major Wollongong tower

<a href="https://www.apartments.com.au/developers/arada">Arada Australia</a> has wasted little time expanding its ambitions in Campsie, lodging plans for a second major project in the rapidly transforming town centre just months after unveiling its three-tower One Campsie proposal on Beamish Street.

The UAE-backed developer has now taken aim at one of the suburb’s most strategically positioned sites, filing a State Significant Development Application for a <a href="https://www.apartments.com.au/new-apartments/10-north-parade-campsie-nsw-2194">33-storey mixed-use tower</a> at 10 London Street and 43 North Parade, directly opposite the future Campsie Metro Station. The proposal is currently on public exhibition and represents another significant vote of confidence in Campsie's emergence as one of Sydney’s key transit-oriented growth centres.

Designed by <a href="https://www.apartments.com.au/architects/woods-bagot">Woods Bagot</a>, the development would deliver 156 apartments above a podium containing retail and commercial space, creating a new residential and commercial gateway to the town centre. The scheme also includes a four-level above-ground parking podium and a dedicated residential amenity floor featuring wellness and recreation facilities. At least 10 per cent of the apartments would be allocated as affordable housing for a period of 10 years.

The proposal occupies a 1,631 sqm site bounded by London Street, North Parade and Dispensary Lane, immediately adjoining the future Metro station precinct and just metres from Beamish Street’s retail and dining strip. According to the Urban Design Report, the project seeks to deliver "a great place that prioritises human-scaled experience and provides spatial improvements to the area."

<img alt="First look: Arada doubles down in Campsie with 33-storey Metro-front tower plans" data-entity-type="file" data-entity-uuid="175a8324-015b-4856-abe3-ce6f23199fa7" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/podium%20campsie.png?VersionId=742UGwXFhFBX4GEl6wX4PYIWREAgn6il" />

Woods Bagot describes the tower as a key marker within Campsie's next phase of growth.

"Located directly opposite the new Campsie Metro Station on North Parade, 10 London Street is a thoughtfully composed 33-storey mixed-use tower that contributes to the ongoing transformation of the town centre," the Architectural Design Report states. The report says the project is intended to provide "high-quality homes within a vibrant, connected urban environment, while helping define Campsie's future skyline."

A strong emphasis has been placed on the public realm. The ground floor incorporates over 500 sqm of retail space and active frontages along both London Street and North Parade, while the podium is wrapped by extensive landscaped planting intended to soften the building's scale and strengthen the pedestrian experience. The development would also widen surrounding footpaths and improve connections between the Metro station and the broader town centre.

Above the podium, residents would have access to more than 1,400 sqm of communal amenities, including a pool, gym and landscaped recreation spaces. A distinctive green-wall treatment extending across four podium levels forms a major architectural feature, helping differentiate the project within the emerging high-density precinct.

The tower's design is closely tied to the broader Campsie Town Centre Master Plan and the arrival of Sydney Metro. The Urban Design Report notes the proposal "directly supports the Campsie Town Centre Master Plan by delivering new homes in a location explicitly identified for growth, improved accessibility, and high-quality urban renewal." It adds that the project contributes to the master plan's vision for a strengthened town centre supported by thousands of new homes around the future Metro station.

<img alt="First look: Arada doubles down in Campsie with 33-storey Metro-front tower plans" data-entity-type="file" data-entity-uuid="bfd17654-253e-489a-bade-6278d63db412" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/base%20campsie.png?VersionId=3roJPMQGs36dazpkhvpvbDDP73Ld.Ica" />

The application follows Arada Australia's recently lodged One Campsie project at 124–142 Beamish Street and 16–18 Ninth Avenue, where the developer is seeking approval for 346 apartments across three towers rising 24, 32 and 39 storeys. Together, the two proposals would cement Arada Australia as one of the most influential developers shaping Campsie's future urban form.

Read more:&nbsp;<a href="https://www.apartments.com.au/news/nsw/first-look-arada-files-for-trio-of-apartment-towers-in-campsie-town-centre">First Look: Arada Australia files for trio of apartment towers in Campsie town centre</a>

Arada Australia entered the Australian market in 2024 and has rapidly assembled a significant development pipeline across Sydney. Alongside its Campsie holdings, the developer is soon to launch <a href="https://www.apartments.com.au/new-apartments/wattle-green-2-fishburn-crescent-castle-hill-nsw-2154">Wattle Green</a> in Castle Hill, and has expanded its local operations following its acquisition of construction firm Roberts &amp; Co.

Located around 14 kilometres south-west of the Sydney CBD, the site sits at the centre of one of Sydney's fastest-changing middle-ring precincts. The Metro conversion of Campsie Station, combined with Canterbury-Bankstown Council's master planning framework, is driving significant residential intensification around Beamish Street and North Parade, with thousands of new homes expected over coming decades.

Staff reporter

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