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Fully leased neighbourhood centre Norfolk Village in Gold Coast's Ormeau has been purchased by a Melbourne-based syndicate group for $9.7 million on a yield of nearly 7.2 per cent in an off-market deal.
Located at 174 Pascoe Road, the single-level building comprises 16 specialty tenancy retailers such as Subway, Ray White, L.J Hooker, a medical centre, dentist and bakery among others.
The centre is fully leased with the annual net income of approximately $700,000. 
Its site area is 6,161 sqm site with a total net lettable area of 1,481 sqm.
The deal was brokered by Stewart Gilchrist of Colliers International 
“Norfolk Village did not suit all investors who enquired due to the short WALE lease terms, however, it appealed to the purchaser due to its strong history of being fully leased with fixed annual rent increases,” said Gilchrist.
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Fully leased Norfolk Village in Gold Coast's Oremeau sold for $9.7 million

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Building services that support indoor environmental quality, lift performance and technology are among the top factors that drive the building selection decision, according to CBRE’s latest report.
However, current satisfaction levels amongst occupiers reflect the largest gaps between what is currently being offered and occupier expectations of these fundamental base building services.
As technology continues to evolve, the way we work is changing, creating the flexibility to work how, when and where we want; this can drive greater efficiency, supporting business growth as well as individual choice and work-life balance.
The war for talent continues to be a major focus for most organisations as they seek to attract and retain the best people.
Greater awareness is now being paid to the demands of staff and increasingly we expect to organisations evaluating their offerings to their people through location and building selection as well as workplace design.
There are now four generations represented in the workplace and this is resulting in a much more diverse workforce with differing needs and desires.
The CBRE Australian Millennials Survey: Myths and Realities revealed some of the demands of the Millennial generation around the workplace, with some surprising results.
Wellness and relaxation facilities ranked as the most influential amenity Millennials would desire when considering a new job.
At the same time, this factor also represented the biggest gap between desire and current provision in the workplace.
So what does this mean? A greater need for alignment in the real estate decision-making process between corporate real estate and human resources will emerge.
While corporate real estate has traditionally placed the greatest importance on cost, the core offering and base building services, there will be a greater shift towards the appreciation of the cost and value of an organisation’s people and ensuring that their demands are met.
This will drive an increasing demand for some of the softer tenant services and building differentiators such as wellness facilities and customer experience offerings such as concierge services.
According to CBRE’s Occupier Survey, the trend for workplace design is heading towards a more agile workplace format or one which endangers higher performance amongst employees.
An increasing number of occupiers planning a near-term redesign indicated they intend to implement this style of workplace format.
Occupiers who had redesigned in the past two years and adopted a more agile workplace format reported higher success ratings in achieving a number of business objectives, particularly around the areas of achieving knowledge sharing, collaboration and effective use of space.
They also gave the highest ratings in terms of their new workplace format increasing employee productivity, helping to attract and retain staff and improving the on-boarding of new and junior staff.
A high performance workplace format should be designed to enable employees to do their jobs in the most effective and efficient manner whilst also inspiring them and supporting their comfort and wellness.
Ultimately the goal of a high-performance workplace is to increase employee productivity and thus business profitability.
The next frontier in the evolution of occupier demand will be the expectation of an enhanced customer experience offering.
There is an increasing recognition that the customer relationship is now evolving beyond that of the landlord and the representative of the tenant that signs the lease.
It is now extending to include occupants of and visitors to the building.
With more diversity in the workforce, a more flexible approach to work and an increasing focus on wellness and work-life balance.
It will be imperative for landlords and building managers to ensure they are delivering an enhanced customer service experience to gain a competitive advantage in the marketplace and strengthen the landlord/occupier relationship.
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Lift performance, technology and indoor quality top factors in choosing offices: CBRE

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Performance in 2017 will differ markedly across the major cities throughout Australia as further divergence will occur in the hotel sector, according to CBRE’s latest report.
Some markets struggling to cope with unfavourable trading conditions and increases in supply.
However, the star performers of 2016 – Cairns, the Gold Coast, Hobart – will continue their rise off the back of renewed interest in their locale by both foreign and domestic tourists.
Figure 14 illustrates Sydney’s continued strong revenue per available room (RevPAR) growth off the back of favourable trading conditions in 2015.
<a href="https://www.propertyobserver.com.au/images/2017/02/17/Figure%2014.jpg" target="_blank">Click to enlarge</a>
<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/2017/02/17/Figure%2014.jpg" alt="">
In particular attracting a good mix of corporate and leisure tourists that enabled operators to increase room rates.
With the International Convention Centre opening in early 2017 Sydney room rates are expected to continue to climb off the back of increased corporate travel, albeit at a more moderate pace due to increases in supply.
Despite Melbourne’s strong start to the year there are signs that the market is struggling to cope with the increases in supply entering the market.
Melbourne’s strong performance historically has been largely driven by occupancy rather than room rate growth so any sign of occupancy pressure will see rates decline somewhat in 2017 before stabilising in 2018.
The resource markets of Brisbane and Perth continue to lag the rest of the nation; both saw revenue per available room (RevPAR) declines in the double digits.
The downturn in mining coincided with significant increases in supply in Brisbane which exacerbated the decline in performance.
A problem that Perth will have to contend with in the coming years as it nears the peak of the development cycle in 2018-19.
The more leisure-based destinations of Cairns, the Gold Coast and Hobart have been the star performers in the market as they continue to attract large volumes of both domestic and international visitors.
Admittedly these three markets are coming off a low base as a result of tough trading conditions pre and post GFC.
However 2016’s performance has still been impressive and is set to continue in the coming years as all three benefit from limited supply pipelines coupled with renewed tourist interest.
The year ahead will see increases in supply for the majority of key markets including Melbourne, Sydney, Brisbane and Perth.
However, they will all cope in different ways with Perth and Brisbane forecast to see further declines in hotel performance.
Whilst Sydney is expected to cope well with this increased supply, Melbourne will likely see small falls in room rates and occupancy levels.
Cairns and the Gold Coast have limited pipeline with no major new supply coming into the market in 2017.
“However, such is the interest in these regions we can expect to see developers announcing plans to enter the market, particularly the Gold Coast,” the report stated.
What will be of interest is the style of hotels that are announced in 2017 as recent trends reflect a shift towards greater tailoring of guest experiences such as Accor’s Mama Shelter or IHG’s EVEN Hotels.
In order to stand out from the crowd operators are offering unique experiences to pique interest and capture market share, particularly from the millennial generation, so we will see further announcements regarding these lifestyle brands coming to Australia.
The investment market has been dominated by overseas capital in the last three years and 2017 will likely be no different.
The current capital flight from China should continue to unfold and be the dominant source of capital in 2017 as investors seek safe-havens and long-term income generating assets.
Due to the tightly held nature of CBD markets investors will continue to look at fringe-CBD hotels as well as those in more regional locations such as Cairns and the Gold Coast.
Investors keen to move further up the risk curve will start to look at assets in Brisbane and Perth for potential counter-cyclical investment opportunities.
These markets have seen limited transaction activity over the last few years but such is the dearth of quality stock available in Sydney and Melbourne CBDs that investors may start to turn their attention back to these resource states.
<div>
Office to residential conversions have been popular with investors and developers alike over the last few years, particularly in Melbourne and Sydney.
But with the residential market showing signs of cooling, the potential for conversions earmarked for residential to change to hotels is increasing.
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Hotel market reporting struggles with supply increase and unfavourable conditions: CBRE

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ASX-listed Propertylink Group (ASX:PLG) has posted net earnings of $18.71 million for the six months ending December 31, 2016, the first since its disappointing debut on the market last year.
Propertylink, which owns industrial and logistics properties and also invests in them,  said total comprehensive income for the half year was $38.13 million.
The company said it was on target to deliver the FY2017 forecasts of distributable earnings per security of 6.67 cents and distribution per security of 6.32 cents (pro-rata from the completion of the IPO).
The company declared an interim distribution of 2.7 cents per security, to be paid on March 3.
Propertylink, which raised $502 million from its IPO, made a disappointing market debut in August 2016 when its shares slumped 9 percent.
Chief executive Stuart Dawes hinted that the company was looking to acquire more assets.
“We currently have a strong pipeline of additional assets in due diligence for continued growth in our investment management business and anticipate adding new investors to the investment management platform,” said Dawes.
“We will also continue to assess opportunities to realise assets where strong performance can be crystalised for our investors.”
Financial Highlights
<table style="width: 342px;" border="1" cellspacing="0" cellpadding="0"><tbody>
<tr>
<td valign="top" width="179">
 
</td>
<td valign="top" width="82">
1HY15 ($m)
</td>
<td valign="top" width="82">
1HY16 ($m)
</td>
</tr>
<tr>
<td valign="top" width="179">
Net property income
</td>
<td valign="top" width="82">
0.165
</td>
<td valign="top" width="82">
18.714
</td>
</tr>
<tr>
<td valign="top" width="179">
Co-investment income
</td>
<td valign="top" width="82">
1.699
</td>
<td valign="top" width="82">
2.957
</td>
</tr>
<tr>
<td valign="top" width="179">
Investment management revenue
</td>
<td valign="top" width="82">
5.729
</td>
<td valign="top" width="82">
31.278
</td>
</tr>
<tr>
<td valign="top" width="179">
Total comprehensive income
</td>
<td valign="top" width="82">
1.592
</td>
<td valign="top" width="82">
38.137
</td>
</tr>
<tr>
<td valign="top" width="179">
Distributable Earnings
</td>
<td valign="top" width="82">
N/a
</td>
<td valign="top" width="82">
18.045
</td>
</tr>
</tbody></table>
The company said it had kept good momentum in leasing transactions with tenant retention of more than 80 percent. Dawes said Properylink’s portfolio had increased to $697.8 million due to the "team’s active approach to asset management". It completed 35 leasing transactions during the six months, covering 128,418 sqm and accounting for 25.5% of the portfolio. It also increased the weighted average lease expiry (WALE) of the overall portfolio to 4.4 years.
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Propertylink posts net income of $18.7 million, says on the lookout for assets

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A number of mining towns are recording ongoing falls in vacancies, signalling that the housing bust in the mining towns is possibly coming to an end, according to SQM Research’s latest newsletter.
Residential vacancies in Karratha, Port Hedland, Mackay and Gladstone are all down compared to his time last year.
<a href="https://www.propertyobserver.com.au/images/2017/02/24/Screen%20Shot%202017-02-24%20at%2010.32.12%20AM.png" target="_blank">Click to enlarge</a>
<img src="https://www.urban.com.au/images/2017/02/24/Screen%20Shot%202017-02-24%20at%2010.32.12%20AM.png" alt="">
Reflecting its high vacancy rate, Darwin continues to record big falls in asking rents, with units falling by another 2.5 percent for the month of January (houses down 0.1 percent).
Perth continues to record the largest yearly declines.
However, rents did rise slightly for the month at 1.1 percent for houses and 0.5 percent for units.
Meanwhile, Hobart is the strongest rental market in the nation with rents up by 6.7 percent for houses in January and 11.6 percent for units.
As noted, Hobart also has the lowest vacancy rate of all capital cities at just 0.7 percent.
Brisbane remains a flat rental market with falls in rents being recorded for units in the inner ring of between 2.5 percent to 5 percent declines, against the background of a relatively high vacancy rate of 3.3 percent.
Overall, rents continue to rise at about 2 percent per annum nationwide with some variability reflecting the mixed Australian housing market. 
So far, the feared oversupply for Sydney and Melbourne has not yet eventuated and we are aware of some scaling back of developments, particularly in the Melbourne rental market.
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Mining towns continue to have high vacancies and falling rents: SQM

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Australians and businesses overwhelmingly think our country is a great place to live and have a business.
However, Australian consumers and businesses are anxious about what the future holds.
National Australia Bank (NAB) today released a new report which asks consumers and businesses to explore life, work and running a business in Australia – now and in the future.
“Nine in 10 Australians told us our country’s open spaces, people and lifestyle and access to affordable and quality healthcare are the biggest contributors to liveability and their choice to call Australia home,” NAB Chief Economist Alan Oster said.
“There are some clear differences between states. Consumers in SA/NT are much more positive in relation to travel time, living costs and housing – and in Victoria, a love of sport means entertainment options feature more prominently for liveability than any other state.”
Businesses too are optimistic, with 8 in 10 (82%) surveyed viewing Australia as a great place to have a business.
“Australian business people see the economy, our close proximity and strong connections to Asia and the growing population as some of Australia’s key strengths,” Mr Oster said.
“Making the most of these strengths is vitally important for Australia, to support more growth opportunities for businesses and the millions of Australians they employ.”
But despite their current optimism, the report found only 1 in 2 people and 60% of businesses think Australia will be a great place to live and have a business in 10 years’ time.
“There is a clear message of anxiety in the future coming from Australian consumers and businesses,” Mr Oster said.
“Australians identified access to social welfare, living costs, tax levels, jobs and housing affordability as the key factors they expect will deteriorate the most in the next 10 years.
Consumers are saying they expect very little progress in the areas already holding Australia back now.
“While a person’s income didn’t affect current perceptions of liveability, there was a large future disconnect between high income earners (earning over $100,000) and those earning under $35,000 a year.”
Businesses are slightly more optimistic.
“Australian businesses expect the things that make our country great now to continue to make us great in the future – this includes our population, proximity to Asia and our innovative and entrepreneurial economy.”
“These insights on how Australians feel about our country may be able to help businesses and governments discover what we’re concerned about, and prompt discussion on how to tackle some of the big issues,” Mr Oster said
About 2,300 consumers and 500 businesses took part in the survey, and full findings can be viewed at news.nab.com.au
NAB Chairman Dr Ken Henry will be speaking about the research today in his address to the Centre for Economic Development.
You can find a full version of his speech at <a href="https://www.news.nab.com.au" target="_blank">news.nab.com.au</a>.
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Life in the lucky country: What makes Australia great?

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After a sustained period of growth in residential construction activity over the past five years, 2016 represented a shift in the development cycle with historical undersupply being addressed in most markets, according to CBRE’s latest report.
Sydney remains the exception; low vacancy rates (sub 2 percent) and a nation-leading level of price growth make it likely that the construction cycle with extend for longer in Sydney than in other Australian markets.
Price and rent growth eased across all capital city unit markets in 2016.
Total dwelling approvals in 2016 were 4% lower than in 2015, but as a signpost for 2017 approvals for Q416 were 14% lower than the previous corresponding period.
Approvals are losing momentum.
In light of weaker price and rent growth comes the prospect that developers may delay commencement of projects.
This is especially in markets where demand conditions are less favourable (Brisbane, Perth) or with significant supply (Melbourne), although there was little evidence of this occurring during 2016.
“We expect that less-favourable conditions in mortgage markets (higher interest rates and stricter lending requirements for some types of mortgages) and lower levels of unit rent growth will likely soften buyer demand and reduce the amount of new supply being planned in 2017,” the report stated.
Dwelling approvals are expected to slow in 2017, but unit completions are expected to reach record levels (figure 19).
<a href="https://www.propertyobserver.com.au/images/2017/02/16/Figure%2019.jpg" target="_blank">Click to enlarge</a>
<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/2017/02/16/Figure%2019.jpg" alt="">
With apartments representing 50% of expected completions (up from a historical norm of -30%), inner-city markets, where most new apartments are being built, appear most likely to experience downward pressure on rent growth as a high proportion of the new stock becomes available for rent.
Pricing already shows a narrowing gap in median values between inner-city apartments and outer suburb houses as new supply slows price growth in areas of high building activity.
This is particularly in Brisbane and Melbourne due to the concetration of apartments in the inner-city area.
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Weaker price and rent growth will result in residential project delays: CBRE

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Queensland is a significant step closer to having a world-leading health precinct at Brisbane’s Herston Quarter after Australian Unity today executed a series of agreements for the development.
The $1.1 billion Herston Quarter project is set to provide Queenslanders with access to state-of-the-art health, hospital and aged care services, as well as creating scope in the future for international standard research and educational facilities.
Health, wealth and living company Australian Unity will develop the precinct, which includes both public and private hospitals and residential options for retirees and those looking for aged care, and take an ongoing role in operating care services.
“This project embodies Australian Unity’s vision to create the social infrastructure people need, and we appreciate the Palaszczuk Government’s commitment to moving ahead with this important project for Brisbane and Queensland,” Australian Unity Group Managing Director Rohan Mead said.
“The exchange of contracts between Australian Unity and Metro North Hospital and Health Service for Herston Quarter is a vital step on the path to delivering stronger future health outcomes to Queenslanders,” Mr Mead said.
In August, the Palaszczuk Government announced Australian Unity as the preferred tenderer for the development of Herston Quarter after a rigorous selection process.
Located adjacent to the Royal Brisbane and Women’s Hospital in inner suburban Brisbane, the Herston Quarter is set to include a specialist rehabilitation and ambulatory care centre; a private hospital; residential aged care; retirement living and student accommodation; childcare; a co-working hub and education and training facilities.
“Australian Unity is a 177-year old member-based mutual organisation, so we can focus on longer-term projects such as Herston Quarter that deliver community value over time ahead of short-term shareholder returns,” Mr Mead said.
Australian Unity Chief Investment Officer David Bryant said the Herston Quarter as envisaged would bring together in one project much of Australian Unity’s broader business capacity.
“Herston Quarter will combine our experience in the construction of hospitals and the operation of ‘hard’ social infrastructure such as aged care and retirement villages with our expertise in the provision of ‘soft’ social infrastructure, such as our preventative health businesses, playing an integral part in the health research element of the project,” Mr Bryant said.
Mr Bryant said the overall project had a five to 10 year construction life, but would be completed in stages.
“The first building planned for construction is the public rehabilitation hospital, which we anticipate will be up and running by 2020,’’ Mr Bryant said.
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Australian Unity's Herston Quarter health precinct update

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The Australian Prudential Regulation Authority (APRA) has updated its expectations for sound residential mortgage lending practices for authorised deposit-taking institutions (ADIs) following consultation with industry and other stakeholders.
APRA released for consultation a revised draft of Prudential Practice Guide APG 223 Residential Mortgage Lending in October 2016 to incorporate measures previously announced by APRA in 2014 or communicated to ADIs since that time.
The revisions to APG 223 are designed to ensure that the sound lending practices that have been implemented across the industry since late 2014 are maintained and reinforced.
As a result of the consultation, APRA has made a small number of refinements to the prudential practice guide, which are explained in a letter to ADIs.
APRA does not expect these refinements to result in material changes to existing lending practices across the industry as a whole.
APRA is continuing to maintain its close monitoring and supervision of residential mortgage lending practices, including growth in investor lending, as part of its broader mandate to build resilience in the financial sector and promote financial system stability.
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APRA updates guidance on residential mortgage lending

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The Brisbane Ice Cream Festival will be held in the historic Peter’s Ice Cream Factory on 11 March.
The Brisbane Ice Cream Festival, part of the $800 million West Village mixed-use development, will feature ice creams from Minus 32, Frozen Sunshine, Queen of Pops and Messina Gelato.
The historic factory building is one of two buildings that will be retained as part of developer Sekisui House’s masterplan for the West Village development.
<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/2017/02/15/West%20Village%20V32_Common%20Wide_Final%202000.jpg" alt="">
The building has been an iconic West End landmark since its completion in December 1928.
The Peter’s factory once produced 10,000 gallons of ice cream per day.
 Andrew Thompson West Village project director said the Peter’s factory buildings will stand as an enduring reminder of the industrial past of West End, and the communities that were formed as a result.
“The masterplan for West Village has always focused on preserving and celebrating these historic structures and respecting their stories,” he said.
“We’re honouring an important piece of Brisbane’s history in this urban renewal project that will create a vibrant ground plane at West Village and add to the Boundary Street precinct, which is set to be the central retail hub of West End.
“It is a visionary re-imagining of these buildings that will create a bustling retail hub by combining lively green spaces and green eclectic laneways to bring a diverse new precinct to the beating heart of Brisbane.
<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/2017/02/15/West%20Village%20V40_Common%20Far_Final%2020001.jpg" alt="">
“We want it to be fun for all ages and families, but we also want it to mean something to the many people who remember this historic landmark as it once was.
"It’s important to celebrate the evolution of the city’s history and its cultural heritage, and West Village will accomplish this through this revitalisation process.”
The Brisbane Ice Cream Festival starts from 11am on Saturday 11 March.
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Brisbane's West Village brings Peter’s ice-cream history back to life

Kew has long been regarded as one of Melbourne's premier residential suburbs. It's a location defined by its grand period homes, leafy streets and some of the city's most prestigious schools, yet it has often sat just outside the spotlight cast on neighbouring Hawthorn and Camberwell.

Increasingly, however, buyers are recognising that Kew offers much of what draws people to those suburbs, with a quieter residential setting, exceptional amenity and long-term owner-occupier appeal.

Within a few minutes' walk, residents can access Kew Junction, one of Melbourne's most established village centres. Cafés, bakeries, restaurants, supermarkets, boutique retailers and everyday services are all on the doorstep, with local favourites including Centonove, Adeney Milk Bar Cafe, and Frank &amp; Harri creating the type of walkable lifestyle that has become increasingly difficult to find in Melbourne's inner east. Beyond the immediate neighbourhood, Glenferrie Road's renowned shopping and dining precinct in Hawthorn and the retail, dining and entertainment offerings of Camberwell Junction are both just a short drive or tram ride away.

The suburb is equally well connected. Tram routes 48 and 109 provide direct access to the CBD, while High Street and Cotham Road connect residents to the wider inner east.&nbsp;Nearby access to the Eastern Freeway also places the Yarra Valley, Mornington Peninsula and Melbourne Airport within easy reach, adding another layer of convenience for weekend travel.&nbsp;It's a rare combination of connectivity and tranquillity, where quiet residential streets sit just moments from some of Melbourne's most established shopping and lifestyle precincts.

For families, Kew remains one of Melbourne's most tightly held addresses. Carey Baptist Grammar School, Xavier College, Methodist Ladies' College, Trinity Grammar, Ruyton Girls' School and Genazzano FCJ College are all nearby, while the Yarra River parklands, walking trails and sporting clubs provide another layer of lifestyle appeal.

It's within this established pocket that developer Ricdanic is delivering <a href="https://www.apartments.com.au/new-apartments/wimba-ave-kew-9-11-wimba-avenue-kew-vic-3101">Wimba Ave</a>, a boutique collection of just 13 residences across two buildings named after its location on the tree-lined Wimba Avenue,&nbsp;within one of Kew's most prestigious pockets where homes have been known to sell up to and above $8 million.

[smartcode_project:default project_id=140755 project_image_fid=354809]

The residences prioritise the space that buyers are increasingly searching for but struggling to find in established suburbs. Living areas extend beyond five metres in width, ceiling heights range from three to five metres, and apartments open onto private gardens averaging around 125 sqm. Selected residences also feature balconies of approximately 60 sqm, while premium inclusions include Miele appliances, double-glazed windows, EV readiness, fully electric systems and a 7.2 NatHERS energy rating.

Architect Chris Idle says opportunities to deliver homes of this scale within established suburbs have become increasingly uncommon.

"There are very few opportunities to do these kinds of developments in leafy, established suburbs," he says. "To get this level of amenity, natural light, and architectural freedom in such a setting is extremely rare."

[smartcode_project:default project_id=140755 project_image_fid=366267]

The architecture draws on Kew's established character through the use of handmade Krause bricks, while landscaping by John Patrick introduces 23 plant species, including nine native varieties, creating an environment which focuses just as much on nature as it does the building.

Construction on Wimba Ave is well underway by renowned high-end builder Sinjen, with completion expected in late 2027. Prices start from $2.22 million.

[smartcode_project_cta:default project_id=140755]

Joel Robinson

The enduring appeal of Kew's tree-lined streets and village lifestyle

"For me, it's the location." That was the first thing Chris pointed to when reflecting on why he and his wife Marita decided to purchase at Candela Ivanhoe, the under-construction new apartment development by Salter Brothers in the heart of the north-eastern M​elb​ourne​ suburb. ​

"We've lived here before… everything is here," Chris said.

"Our doctor is around the corner, there's dentists, pilates, everything we need, restaurants, fast food places, two train stations, Ivanhoe and Darebin, both in walking distance. You don't need anything else."

<iframe allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" allowfullscreen="" frameborder="0" height="315" referrerpolicy="strict-origin-when-cross-origin" src="https://www.youtube.com/embed/X8K0Bozug7A?si=Puwc6vx_ZO0qQZF8" title="YouTube video player" width="560"></iframe>

Just 10 kilometres from Melbo​urn​e's CBD, Ivanhoe combines direct city connectivity with the amenity of an established village community. Residents have access to highly regarded schools, expansive parklands, public transport, and a thriving retail and hospitality precinct centred around Upper Heidelberg Road, all within a neighbourhood that has retained its leafy character despite its proximity to the city.

<a href="https://www.apartments.com.au/new-apartments/candela-ivanhoe-40-upper-heidelberg-road-ivanhoe-vic-3079">Candela Ivanhoe</a> sits within the heart of this established landscape, positioned just moments from Ivanhoe Village and within walking distance of many of the suburb's most sought-after amenities.

[smartcode_project:default project_id=342 project_image_fid=364553]

From Candela, residents can access cafés, grocers, wine bars, restaurants and essential services on foot, while Ivanhoe Station and Darebin Station provide direct connectivity across Mel​bour​ne. The development is also surrounded by some of the suburb's best-known lifestyle destinations, including Pinkie, Laurent, Enni, Docasa and Woodfire Pizza e Cucina, alongside Ivanhoe Plaza, Woolworths, pharmacies and specialty retailers.

Green space is another defining feature of the suburb. Darebin Parklands, Ivanhoe Park, Nellie Ibbot Park and the Yarra River trail network provide extensive opportunities for recreation, while Ivanhoe Golf Course and Ivanhoe Tennis Club continue to underpin the area's long-established lifestyle appeal.

The suburb's education offering further strengthens demand. Ivanhoe Grammar School, Ivanhoe Girls' Grammar School, Mary Immaculate Primary School and Ivanhoe Primary School have helped establish the area as one of Melbou​​rne's most sought-after schooling precincts, attracting families and downsizers alike who want to remain connected to the area.

[smartcode_project:default project_id=342 project_image_fid=357510]

While location was the priority for Marita and Chris, the project itself also needed to meet their expectations.

"Whilst location was paramount, I was also looking at design of the environment and Candela ticked every box," Marita said.

"We're just thrilled with our choice."

[smartcode_project:default project_id=342 project_image_fid=336455]

Developed by <a href="https://www.apartments.com.au/developers/salter-brothers">Salter Brothers</a>, Candela Ivanhoe has been designed to complement its village setting, with an emphasis on generous floorplans, natural light and practical everyday living.

Residents will have access to a range of shared amenities, including a communal rooftop garden and dedicated residential lounge, complemented by a ground-floor café and lifestyle wellbeing centre, helping foster the sense of community already emerging among future owners.

That approach has resonated strongly with the market. More than 90 per cent of purchasers at Candela Ivanhoe are owner-occupiers, with buyers ranging from downsizers and second-home buyers to young families and first home buyers, creating a genuinely multi-generational community of grandparents, parents and children. It reflects a broader shift across Melbo​​urne's apartment market, where buyers are increasingly prioritising neighbourhood quality, lifestyle amenity and long-term liveability.

Currently under construction by Ironside, Candela Ivanhoe comprises 58 apartments. Candela Ivanhoe is scheduled for completion in the coming months, and residents can move in from September. One to four bedroom residences, prices from $649,000 and limited opportunities remaining.

[smartcode_project_cta:default project_id=342]

Location and lifestyle drive demand at Candela Ivanhoe

As apartment buyers increasingly look beyond the four walls of their residence, the quality and depth of shared amenity has become a defining factor in how developments are designed and experienced, particularly in the high-rise, new apartment development space.

In Southbank, where high-density living continues to evolve, developers are placing greater emphasis on creating environments that support wellbeing, connection, and convenience as part of everyday life.

That approach sits at the heart of <a href="https://www.apartments.com.au/new-apartments/aura-at-melbourne-square-7-hoff-boulevard-southbank-vic-3006">AURA</a>, the latest residential tower in <a href="https://www.apartments.com.au/developers/osk-property">OSK Property</a>’s $3.5 billion Melbourne Square precinct. Rising 67 storeys above Hoff Boulevard, the 673-apartment development has been conceived around what OSK describes as a “vertical wellness ecosystem”, a layered collection of amenities that extends throughout the building rather than being confined to a single podium level.

[smartcode_project:default project_id=151921 project_image_fid=370263]

The amenity offering begins on the seventh level within the AURA Club, a dedicated resident hub focused on health, relaxation, and daily convenience. Here, residents will have access to an indoor swimming pool, cold plunge, spa, sauna, and steam room, alongside a fully equipped gym, reformer Pilates studio, and yoga room.

The wellness facilities are complemented by a range of spaces that acknowledge the changing ways people live and work. Work-from-home lounges and co-working areas sit alongside a library, music room, games room, cinema facilities, and open-air terrace spaces, providing residents with flexible environments that can adapt throughout the day.

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Beyond the internal amenity, AURA introduces a series of Japanese-inspired gardens that form a quieter counterpoint to the tower’s social spaces.

Landscaped retreats feature curated outdoor dining, tranquil courtyard seating, fire pit, and a tea house pavilion. Rather than functioning as simple recreational areas, the gardens have been designed as places for reflection and informal gathering, drawing on principles of balance, nature, and calm that underpin the project's broader design philosophy.

[smartcode_project:default project_id=151921 project_image_fid=367810]

The social amenity continues to evolve as residents move higher through the building. Levels 49 and 50 house the Meridian Club, where a lounge bar, conservatory spaces, and private dining rooms take advantage of elevated city views. At the summit of the tower, the exclusive Cumulus Club spans Levels 66 and 67, offering additional lounges, private dining, and meditation and treatment rooms positioned above Melbourne’s skyline.

For OSK Property, the extensive amenity offering reflects a broader focus on wellbeing as a core component of apartment living rather than an added feature.

“Aura stands tall as an exemplar of holistic wellness – its focus on social, physical and mental health culminate in a building that is calming, restorative and relaxing, where residents will have their own sanctuary within the well-connected and sought-after Southbank,” says OSK Property CEO Chong Boon Woon.

[smartcode_project:default project_id=151921 project_image_fid=367796]

AURA’s amenity strategy extends beyond the tower itself through its integration with the wider Melbourne Square precinct.

Residents will have direct access to Kennedy Park, Southbank’s 3,745 sqm landscaped public park, alongside a full-line Woolworths supermarket, childcare centre, hospitality venues, and approximately 1,600 sqm of additional retail planned within AURA’s lower levels. Together, these elements create a highly connected residential environment where daily needs, recreation, and wellness are woven into the fabric of the community.

[smartcode_project:default project_id=151921 project_image_fid=370253]

As Melbourne’s apartment market continues to mature, developments are increasingly judged by the lifestyle they provide beyond individual residences.

Through its combination of wellness facilities, landscaped retreats, social clubs, and precinct-wide amenity, AURA represents a shift toward a more comprehensive model of vertical living, one where shared spaces play as significant a role as the homes themselves.

[smartcode_project_cta:default project_id=151921]

AURA elevates amenity living at Melbourne Square

Builder-developer Scion is the latest to target Sydney's booming Hills Showground Metro precinct, filing plans for more than 100 apartments within walking distance of the station.

Scion has lodged a concurrent rezoning and State Significant Development Application for <a href="https://www.apartments.com.au/new-apartments/27-33-middleton-avenue-castle-hill-nsw-2154">27–33 Middleton Avenue</a>, where it plans to replace four existing homes with an 11 and 14-storey mixed-use development comprising 109 apartments, six affordable housing dwellings, and a ground-floor café.

Designed by BHK Architects, the proposal includes three levels of basement parking with 174 spaces, more than 1,200 sqm of communal open space, and extensive landscaping across the 3,791 sqm site.

The development has been designed as two buildings connected by a recessed wintergarden spine, with the 14-storey building positioned to the south and the 11-storey building to the north.

<img alt="Scion" data-entity-type="file" data-entity-uuid="64dc359d-736b-43b8-87a8-70a8285cab47" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-06-25%20at%208.47.01%E2%80%AFPM.png?VersionId=PXh.m8id_aevBPHEckPf88wQ2RQThPos" />

The apartment mix has been weighted towards owner-occupiers, with 13 one-bedroom apartments, 55 two-bedroom residences, 31 three-bedroom apartments, six three-bedroom lofts, and four four-bedroom homes. Six apartments will be dedicated as affordable housing in line with the NSW Housing SEPP.

According to the Architectural Design Report by BKH, the proposal seeks to create "a place-responsive architecture" inspired by the natural landscape surrounding Cattai Creek, while strengthening the public domain through landscaping, active frontages and a neighbourhood café.

Atlas Urban, in its Urban Design Report, says the proposal takes a different approach to increasing density around Hills Showground Station by favouring a more slender, vertically articulated built form over a conventional mid-rise outcome. The report argues this allows for greater deep soil planting, improved solar access and a better public domain outcome, while still delivering additional housing close to rapid public transport.

The site sits around 500 metres from Hills Showground Metro Station, within a precinct earmarked for significant residential intensification following the opening of the Sydney Metro Northwest line. Planning documents accompanying the application note that Greater Sydney's population has grown by more than one million people since planning for the precinct first began, reinforcing the need to accelerate housing delivery around existing transport infrastructure.

Scion is expanding its development pipeline which also includes <a href="https://www.apartments.com.au/new-apartments/chatham-west-ryde-2-6-chatham-road-west-ryde-nsw-2114">Chatham in West Ryde</a>, 62 apartments which are approaching completion. They also have a State Significant Development Application with the NSW Government's Housing Delivery Authority for <a href="https://www.apartments.com.au/new-apartments/96-anzac-avenue-west-ryde-nsw-2114">145 apartments on Anzac Avenue</a>, also in West Ryde.

First look: Scion plots Castle Hill apartment development near Hills Showground Metro Station

<a href="https://www.apartments.com.au/developers/urban-property-group">Urban Property Group</a>&nbsp;has unveiled its scaled-back plans for a pair of towers rising up to 49 storeys directly opposite Bella Vista Metro Station.

The builder-developer will deliver 674 apartments and a new mixed-use hub at the gateway to the station precinct.

The State Significant Development Application has been lodged under the Housing Delivery Authority pathway for the 6,979 sqm site at <a href="https://www.apartments.com.au/new-apartments/9-11-mawson-avenue-bella-vista-nsw-2153">9-11 Mawson Avenue</a>, with the apartments sitting above a mixed-use podium. Initial plans were for closer to 900 apartments across two 40-storey towers.

Located around 30 metres from the Bella Vista Metro Station entrance, the development is intended to act as a catalyst for the long-planned Bella Vista Station Precinct, transforming a vacant site into a transit-oriented residential and commercial destination.

Planning documents describe the project as delivering "a high-density mixed use destination that combines housing, retail and community-serving uses in a highly accessible setting."

<img alt="First look: Urban Property Group plans 674-apartment Bella Vista towers opposite Metro station" data-entity-type="file" data-entity-uuid="21c08216-589e-490d-ad08-2d88b6fa62d9" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/bella%20vista%20podium.png?VersionId=3TnwjjQCNwTsmyQRaWnFrLTSAF0CJeka" />

Designed by <a href="https://www.apartments.com.au/architects/turner-studio">Turner</a>, with landscape architecture by <a href="https://www.apartments.com.au/landscape-architect/arcadia-landscape-architecture">Arcadia</a>, the project comprises 674 apartments, including 102 affordable housing dwellings representing 15 per cent of the residential floor space. The housing mix spans studios, one, two and three-bedroom apartments, alongside a collection of townhouse-style residences integrated into the podium levels. The development also includes specialist disability accommodation and an elevated provision of adaptable and liveable housing.

The mixed-use podium has been designed to create an active urban centre around the Metro station, incorporating a 1,423 sqm supermarket, a 3,029 sqm gym, specialty retail spaces, a 100-place childcare centre and a publicly accessible "city room" community space. A secondary laneway, active frontages and landscaped public areas are intended to improve pedestrian connectivity through the site and strengthen links between the station precinct and surrounding neighbourhood.

In the project's design report, Turner said the proposal responds to Bella Vista's emerging role as a higher-density centre within Sydney's north-west growth corridor.

"The project transforms a strategically located site into a high-density mixed use destination that combines housing, retail and community-serving uses in a highly accessible setting," the report states.

"Active frontages, a publicly accessible city room, a secondary laneway and a mix of uses including a local supermarket, child care centre and gym create a more complete and socially useful urban environment for residents, workers and the wider community."

<img alt="First look: Urban Property Group plans 674-apartment Bella Vista towers opposite Metro station" data-entity-type="file" data-entity-uuid="0fde6220-82de-4f6a-9b63-d0fd8157acc9" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/bella%20vista%20da.png?VersionId=7hEmuSutH8plTd_RqqdmPu055F6qe554" />

Urban Property Group has been one of the busiest developers across Greater Sydney this year.

The developer is progressing around 1,000 apartments across <a href="https://www.apartments.com.au/news/nsw/first-look-urban-property-group-plans-next-major-wollongong-tower">two projects in Wollongong</a>, with several thousand more homes in the pipeline across Newcastle, Castle Hill, Little Bay and Penrith.

Staff reporter

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