<html><body>
 
DEXUS Property has advised occupancy (by area) at Grosvenor Place, Sydney increased to 96 percent from 94.5 percent at 30 June 2016.
 
It also secured 2,981 square metres of leasing at 385 Bourke Street, Melbourne increasing occupancy to 97.9 percent from 94.5 percent.
 
The advisory was part of DEXUS Property Group updating the leasing status across its property portfolio.
 
It advised it had leased 54,734 square metres of office space across 78 transactions, with occupancy maintained at 96 percent.
 
It also leased a significant amount of industrial space in a three month period securing 158,811 square metres1 of industrial space across 47 transactions, with occupancy improving to 92.3 percent.
 
<table border="1" cellspacing="0" cellpadding="0"><tbody>
<tr>
<td valign="top" width="142">
Key metrics
</td>
<td valign="top" width="142">
30 September 2016
</td>
<td valign="top" width="142">
30 June 2016
</td>
</tr>
<tr>
<td valign="top" width="142">
Occupancy by income
</td>
<td valign="top" width="142">
96.0%
</td>
<td valign="top" width="142">
96.3%
</td>
</tr>
<tr>
<td valign="top" width="142">
Occupancy by area
</td>
<td valign="top" width="142">
95.9%
</td>
<td valign="top" width="142">
96.3%
</td>
</tr>
<tr>
<td valign="top" width="142">
WALE by income
</td>
<td valign="top" width="142">
4.9 years
</td>
<td valign="top" width="142">
4.7 years
</td>
</tr>
<tr>
<td valign="top" width="142">
Average incentive
</td>
<td valign="top" width="142">
15.4%
</td>
<td valign="top" width="142">
17.7%
</td>
</tr>
</tbody></table>
Kevin George DEXUS Executive General Manager, Office &amp; Industrial said the strength of demand in the Sydney office market continued to flow through to the DEXUS portfolio during the quarter.
"We have seen our overall average incentives fall across the portfolio, driven by some properties which are in high demand and as a result have achieved solid growth in rents and reduced incentives at these properties.”
Notable activity for the quarter included:
<ul>
<li>Securing leasing commitments across 10,784 square metres of space at 30 The Bond, Sydney, after the surrender of office space previously occupied by Lend Lease – including securing a new lease with Roche across 4,418 square metres. Only 5,347 square metres remains to be leased at 30 The Bond</li>
<li>Securing three new leases with various tenants across 4,000 square metres at Waterfront Place, Brisbane</li>
<li>Renewing a lease with the South Australian State Government across 9,253 square metres at 11 Waymouth Street, Adelaide</li>
</ul>
Despite the surrender of lease by Lend Lease, occupancy (by income) only decreased slightly to 96.0 percent from 96.3 percent at 30 June 2016 across the total office portfolio, while the weighted average lease expiry (WALE) increased by 0.2 years to 4.9 years.
</body></html>

j.ballantyne1990-6AQqhLzZaK

Grosvenor Place, Sydney sitting at 96 percent full

<html><body>
Wanaka, one of the largest freehold high country stations, has been listed for sale.
The 6639 hectare Lake McKay Station is one of the Southern Lakes' most prominent properties.
It comprises a diverse outlook of mountainous terrain, natural gorges, stream and premium pastureland, as well as views over Wanaka and Mount Aspiring.
The luxury homestead was designed by Dunedin architect Mason &amp; Wales and has four bedrooms, three bathrooms, a games room and a boot room.
There's also a three-bedroom manager's residence, two bedroom staff quarters, a modern woodshed, large implement shed and sheep and cattle yards.
<img src="/images/2016/10/27/NZ%20PIC.jpg" alt="" width="509" height="340">
It's being sold by prominent Auckland-based businessman Colin Harvey and his wife Mary.
They purchased the farm in 2008 and have overseen the installation of a $2 million irrigation system, as well as the addition of a 135 hectare parcel of land.
They have ran it as a successful sheep and cattle station.
“It’s been an amazing journey in Wanaka,” Colin says. They are moving to spend more time with family and focus on business interest in Auckland.
New Zealand Sotheby’s International Realty sales associate Matt Finnigan says the property’s proximity to the Wanaka township, together with its diverse farming and recreational attributes, make for an attractive opportunity. 
“Lake McKay Station is situated in a dress-circle position overlooking both Lake Wanaka and Lake Hawea,” he says.
“The current owners have invested heavily in developing its infrastructure and irrigation, therefore the property has a solid farming backbone.
"It’s also completely accessible by vehicle, which is rare in a high country farm of this scale, and the views from all corners are extraordinary.”
 
 
</body></html>

Wanaka's Lake McKay Station in New Zealand listed

<html><body>
A significant landholding in Sydney’s North Strathfield comprising 23 separate residential houses is being offered for sale.
Some $90 million has been suggested as the likely selling price through JLL.
Located at 1-5 &amp; 9-19 Brussels Street, 126-134 George Street, 2-4 &amp; 8-20 Mena Street, North Strathfield, NSW, the site measures approximately 13,760 square metres.
The property has potential for a larger residential development, subject to council approval on the current proposed zoning changes for the precinct.
The site is currently zoned R2 – Low Density Residential and will be sold conditionally on rezoning. 
The property has three street frontages to Brussels Street, George Street and to Mena Street, and is approximately 550 metres from North Strathfield train station.
“This is one of the first sites of this size that has been offered for sale in the Inner West precinct,” said JLL agent Michael Binskin.
Offers close November 23.
</body></html>

$90 million expected for 23 adjoining Strathfield homes

<html><body>
Hughesville, a heritage-listed home in Queensland's Eight Mile Plains, has sold for $1.3 million.
It is set to become real estate offices.
After spending over four years on the market, I-Sale Property bought <a href="https://www.realestate.com.au/property-house-qld-eight+mile+plains-116979219" target="_blank">2497 Logan Road</a> which had $1.7 million hopes in February 2012.
It was only the fourth time the home has traded since 1892. It last sold for $1 million in 2007 to Bennett Carroll Solicitors.
Designed by architect George Campbell-Wilson, Hughesville was originally built as a wedding gift for local horse dealer Richard Hughes. It remained in the Hughes family for a century.
Its original grandeur was restored in 2004 after plans were approved by the Queensland heritage council. 
Set on 3366 sqm, the Queenslander has three offices and a meeting room.
In the late 1990s Hughesville was featured as a home being renovated by a couple in a XXXX brewing commercial.
MV Real Estate selling agent Lynda Roberts said it was difficult finding the right buyer due to its heritage restrictions.
“There was a lot of people wanting to use it as a wedding venue, but couldn’t due to the tight restrictions,” she said.
</body></html>

Historic Hughesville sells outside of Brisbane

<html><body>
Ray White Hotels Australia and CBRE Hotels have listed the beachside institution, The Clovelly Hotel.
It has been trading for over 150 years.
"The Cloey is one of those folklore hospitality businesses that most Sydney-siders, and numerous others from much further afield, will have an affinity with" commented Andrew Jolliffe.
Iris Capital bought it in 2008 and extensively renovated in 2012.
Conjunction agent Daniel Dragicevich noted an element of the $9.1M in annual sales is notionally underwritten by the sheer weight and regularity of visitors to the area.
"There's no coincidence that the list of owners of other iconic beachside hospitality properties reads like a veritable hotel industry hall of fame roll call" concluded Daniel Dragicevich noting Justin Hemmes (Coogee Pavilion), Chris Cheung (Coogee Pavilion), Kim Maloney (Bondi) and Arthur Laundy/Fraser Short (Watsons Bay). 
The Clovelly Hotel is being sold via an international EOI process until November 23 meaning the successful purchaser can potentially take advantage of the legendary Christmas and New Year trade enjoyed by the hotel.
</body></html>

Iconic Clovelly Sydney hotel hits the market in time for summer ownership

<html><body>
An offshore Chinese buyer has secured the 19th Hole Shopping Centre in Woodend, acquiring the 18,201sqm site for almost $18 million.
The neighbourhood shopping centre was listed for the first time in 50 years by Colliers International who fielded more than 150 enquiries from local, syndicate, institutional and offshore buyers.
Located in Woodend, about 70km north-west of the Melbourne CBD, 19th Hole Shopping Centre is a Coles-anchored neighbourhood shopping centre with 18 specialty tenants.
Leased at 100% and returning a net income of $1.48 million, the Coles anchor is expected to vacate at the conclusion of its lease in February 2019.
“19th Hole Shopping Centre was a complex transaction due to the imminent departure of the Coles anchor,” agent Tom Noonan said.
“As part of our strategy, we approached a number of supermarket operators prior to campaign launch and discussed the opportunity to backfill the Coles space.
“Integral to the successful sale was identifying the repositioning opportunity to prospective purchasers and providing upfront solutions to any immediate shortfalls, allowing buyers to refocus on price and terms.”
The centre traded on an initial yield of 5.11 percent excluding the Coles income, further underpinning the strong appetite for Victorian retail investments and another example of a first-time retail acquisition by an off-shore buyer.
“The campaign attracted an overwhelming amount of enquiry, with a growing number of local and off-shore privates looking to acquire shopping centre assets,” Mr Noonan said.
“A lack of core stabilised assets coming on market is seeing an increased number of buyers move up the risk-curve, which in turn is seeing extremely strong results for assets such as 19th Hole Shopping Centre.”
Mr Noonan said 2016 had seen very few shopping centres transact in Victoria year-to-date.
</body></html>

Chinese buyer secures Woodend neighbourhood shopping centre

<html><body>
Trafalgar Lane, an $86 million mixed-use development in Woolloongabba, has secured strong rentals since settlement of the off the plan sales.
All apartments in the 147-apartment project settled following completion in July.
All of the of the available rental apartments available were leased within 60 days of settlement.
The project was developed by Melbourne-based diversified property group Pellicano whose settlement success comes at a time when investors and developers are questioning the strength of the local Brisbane market.
Pellicano managing director, Nando Pellicano says the company had been in Brisbane for 19 years.
"We foresee substantial more growth and opportunity to come in select areas of Brisbane including Woolloongabba due to its proximity to the CBD and attractive existing lifestyle amenity nearby.
“We undertake careful feasibility studies and research when considering a project, and then spend a considerable amount of time and dedication on the design phase to create functional apartments that will stand the test of time.
“With a good quality product, reasonable prices and a high growth location, settlement risk is dramatically reduced. These rules can be applied consistently across the market and we have recently witnessed the results with the success of Trafalgar Lane.”
The twenty-storey development features 147 apartments designed by architecture firm DBI Design.
Twenty per cent of the residences were bought by owner-occupiers, with the remaining 80 per cent snapped up by discerning investors.
The majority of tenants are affluent young professionals who work in the immediate area and Brisbane CBD, only two kilometres from the project.
Trafalgar Lane itself features extensive amenity, with residents enjoying access to the Trafalgar Residences Retreat, complete with lap pool and spa, sauna, steam room, gym, yoga lawn, residents’ lounge, barbeque area and media lounge.
The one, two and three bedroom apartments feature an edgy and modern design, with floor-to-ceiling windows boasting views across the Gabba to the Brisbane River and the CBD. 
The development also features a unique retail aspect on the ground floor – an intricate laneway design connecting Stanley and Trafalgar Street where the development is located.
“We worked hard to create a distinct ambience for the laneway, which features raw timber finishes and exposed piping to create an industrial feel,” says Pellicano.
“This fitout reflects Woolloongabba’s transformation from an industrial hub to a true lifestyle destination, which is now home to some of Brisbane’s best restaurants, shops and cafes.”
Pellicano has also seen outstanding success at its joint venture with Perri Projects, the $600 million urban regeneration project South City Square, also in Woolloongabba. The partners recently announced $190 million in sales across its first three towers, further demonstrating buyer demand for quality, well-located apartments
“The state of play in property is more complicated than a simple ‘oversupply’. Supply isn’t oversupply until it is built, and constricting forces on the market are preventing some of the less feasible projects from even hitting the market in the first place,” Pellicano says.
“The product we are building is servicing the market, and the supply is being absorbed both at the sales and at the leasing end,” he said.
</body></html>

Woolloongabba's Trafalgar Lane secures settlement success and rental results

<html><body>
Melbourne’s north has seen strong take up of space over the last year on the back of growing tenant demand, particularly from food, logistics and packaging businesses, according to Colliers International's latest report.
Properties within the 5,000-10,000 square metre range have seen the largest take-up in the year to date, with more than 54,000 square metres absorbed - nearly doubling since last year.
Vacancy has declined considerably by approximately 45% over the 12 months to August 2016 to be around 236,706 square metres, with much of this vacant space attributed to lease expiries.
While part of this is due to the lack of speculative development and more focus has been on prelease commitments, much of the absorption was from several deals being made in the 5,000 square metre plus range in the first half of 2016, which includes 141 National Boulevard, Campbellfield being leased to food distributor Bio-Living, and 27 Transport Drive in the Somerton Logistics Centre.
In addition, the latter half of 2015 saw quite a few large deals being made for properties above 10,000 square metres, with the most notable being the 40,000 square metre commitment by Murray Goulburn to the Austrak property.
Businesses continue to be drawn to the north’s robust road infrastructure attributes which include the Hume Highway as a corridor for the transport of freight between Sydney and Melbourne, immediate access to major arterials, close proximity to the Melbourne airport, and transport links to the Port of Melbourne.
Activity in the north’s industrial precinct over the next few years will be driven by rising opportunities for growth, through impending infrastructure development strategies and the strength of key industries such as Food and Fibre, and Transport and Logistics.
Significant transport and road infrastructure projects include the widening of the Tullamarine freeway which is currently underway, the new intermodal freight hub in Somerton (Austrak/DP World Australia) and upgrades to roads (including O’Hearns Road, Yan Yean Road and Bolton Street).
These improvements should provide opportunities for business growth and generate demand in all sectors of the industrial property market.
A low cost business environment and attractive rental rates have continued to spur tenant interest - average net face rents for prime grade assets are currently at $78 per square metre, while secondary grade assets lease for $58 per square metre net.
There has also been a notable increase in tenant enquiry from food groups, particularly within the local government area of Hume which has seen a comparatively higher number of leases within this sector than in 2015.
As Australia’s largest producer and exporter of food and fibre, this sector accounts for more than half of Victoria’s total goods exports. The food and fibre industry should continue to strengthen on the back of growing global interest and increased strategic opportunities as one of the state government’s six priority sectors within the Future Industries Fund, which should drive the demand for industrial space and help absorb impending vacancy from automotive manufacturing facility closures.
Investment activity has also continued to ramp up, evident in major deals being made over the year. One such deal was the sale of the 11,717 square metre Campbellfield property on 36-52 National Boulevard by Property Link, located on 36-52 National Boulevard, which sold to a local owner occupier (also a food group) for $9.6 million, in a Colliers International negotiated deal.
While land values have remained steady in the $240-275 per square metre range for Prime Grade assets over the last six months, the demand for land (from a mix of developers and owner occupiers) in close proximity to the Hume Freeway has continued to grow, predominantly in Epping and bordering areas.
Moreover, current land supply has also been tightening around Epping precinct with limited serviced blocks available at MAB’s Alliance Business Park and McMullin’s Northpoint.
The lack of land supply and fewer opportunities for developments should translate to solid growth in land values over the next 12-24 months.
The underlying demand saw average Prime Grade yields compressing by approximately 40 basis points over the last year to be in the 6.5-7.5% range and we believe there is further scope for compression, particularly for well-located properties, which are in limited supply.
</body></html>

Melbourne's north industrial market continues to improve: Colliers 

<html><body>
Victoria continues to attract both local and off shore investors due to the strong growth of the local economy, record low interest rates, booming infrastructure investment and growing population, according to Colliers International’s latest report.
Average yields have compressed by 50 basis points over the year to 6.75% across the Melbourne metropolitan area, from the combined effect of strong offshore capital inflows and high demand from onshore investors.
However, super prime assets with long WALES and exceptional tenant covenants are attracting sub-6% yields.
Colliers expect strengthening demand to translate into further yield compression over the next 12 months, given that there is plenty of capital with fewer investment opportunities.
“So far this year, more than $900 million worth of sales have transacted in Colliers negotiated deals alone, half of which was attributed to portfolio transactions including $460 million worth of Melbourne industrial assets from the Goodman portfolio, $68 million from the Charter Hall portfolio and the Alex Fraser portfolio ($44 million). Portfolio transactions have continued to gain favour in the industrial market, given that the majority of buyers comprise of institutions looking to purchase larger assets worth over $100 million,” the report stated.
If booming infrastructure investment and ongoing structural change in Port Melbourne are any indication, the next few years are going to be a defining period for industrial property located on the cusp of all this activity.
Infrastructure assets continue to attract investor appetite, with the Port of Melbourne being particularly attractive, primarily due to its sheer scale and underlying potential for development.
Fisherman’s Bend has seen a number of significant developments which are likely to change the course of the industrial property market and underpin growth over the foreseeable future, particularly for properties within close proximity to the port. This includes the acquisition of the Port of Melbourne on a 50 year lease for $9.7 billion by a pool of four investment funds (Future Fund, QIC, Global Infrastructure Partners and Canadian pension group OMERS), which, while providing greater access to capital should also transform the landscape for freight and logistics through proposed automation and transport links, bolstering productivity while benefitting trade and attracting investor demand.
The state government has also taken significant interest in the Fishermans Bend precinct, with one such measure being the purchase of the GM Holden facility as an aerospace, defence, marine and automotive design precinct for $130 million.
The state government recently released a report on its vision for the Fishermans Bend precinct which outlines major urban renewal particularly in the Lorimer, Montague and Sandridge precincts, a proposed high frequency East-West rail linking Fishermans Bend to the CBD and further links to Melbourne’s transport network through light rail and high frequency bus routes.
"Assets with shorter lease expiries have continued to gain momentum in the market, particularly for properties with a redevelopment potential. Areas such as the Montague and the Sandridge precinct have been seeing strong tenant demand for leases with short WALES varying between two to three years, where much of the properties within this region serve as holding income for investors seeking to redevelop these assets and are awaiting permits," the report stated.
As these residential conversions come to fruition, surrounding areas such as Cook Street, Lorimer and the Fisherman’s Bend Employment precinct should see a significant take up in industrial space, given the flow on effect of tenant demand from the more tightly held mixed use areas.
Average net face rents for Prime Grade assets are currently at $180 square metre and given that there is limited new supply in the pipeline, industrial assets should continue to see growth over the medium to long term, as supply remains limited on the back of increasing residential conversions.
Developers have been hotly pursuing land with a redevelopment upside for purposes of conversion to commercial or residential use. This has resulted in a large take up of land within the city fringe area and as such, the demand for land largely exceeds the in flow of supply, which has led to land values soaring by more than 33% in the last 12 months alone.
The same trend has been seen across the industrial property as a whole, particularly for institutional type investors looking to purchase industrial assets above 5,000 square metres, given that there has been little or no supply coming onto the market.
In this environment, yields compressed 38 basis points over the year to be in 6-7% range, with scope for further compression in the next 12 months, as growing demand continues to outstrip supply.
</body></html>

Fringes of Melbourne will see growing demand for industrial properties: Colliers

<html><body>
Upon returning to Queensland Reds, former ACT Brumbies captain Stephen Moore has sold his Canberra family home.
Peter Blackshaw Real Estate agent Rowan Glanville sold the four bedroom home pre-auction to a local family.
Rowan said more than 40 groups had inspected the house since it hit the market three weeks ago.
Set on 1960 sqm, the <a href="https://www.realestate.com.au/property-house-act-yarralumla-123745438" target="_blank">Yarralumla home cost $1.65 million in 2014</a>.
The property is almost double the size of the traditional quarter-acre block that characterises many of Canberra’s established suburbs.
<div>“We’re very sad to leave Canberra,” Moore told Domain.</div>
<div>
“The decision to move up to Queensland happened very quickly.
"Now that it’s happened we’re excited by the challenge, particularly for me with my career, [but] Canberra’s been such a big part of my life.
“It’s where both our kids were born, it’s the only place in Australia where Courtney, my wife, has lived, so for her it’s very much home in terms of Australia.”
</div>
Moore and Courtney have bought into Queensland, paying $1.5 million for a three bedroom home in Bardon.
 
 
<div class="domain-article-share-panel is-top" data-sticky-id="0"> </div>
<div class="domain-article-content-body">
 
 
</div>
</body></html>

Wallabies skipper Stephen Moore sells in Canberra

<a href="https://www.apartments.com.au/developers/abadeen">Abadeen</a> and <a href="https://www.apartments.com.au/developers/perifa">PERIFA</a> have celebrated the topping out of <a href="https://www.apartments.com.au/new-apartments/putney-wharf-harbourfront-precinct-20-waterview-street-putney-nsw-2112">Putney Wharf,</a> marking a significant milestone in the delivery of one of Syd​ney's most anticipated waterfront communities.

Located on Sydney's harbourfront at <a href="https://www.apartments.com.au/developments/putney-nsw-2112">Putney</a>, the project has now reached its highest structural point, with construction progressing strongly towards completion in 2027. 
&nbsp; 
The milestone was celebrated on-site with project partners Phoenix Property Investors, Mitsubishi Estate Asia, Versatile Construction, <a href="https://www.apartments.com.au/architects/sjb-architects">SJB</a>, consultants and stakeholders, to recognise the collective effort behind the transformation of the historic waterfront site into a vibrant new residential, marina and lifestyle destination.

[smartcode_project:default project_id=13962 project_image_fid=362240] 
&nbsp; 
<a href="https://www.apartments.com.au/new-apartments/putney-wharf-harbourfront-precinct-20-waterview-street-putney-nsw-2112">Putney Wharf</a> will deliver a mix of waterfront residences and terraces, complemented by a private 36-berth marina, waterfront dining opportunities and a revitalised foreshore designed to reconnect the community with the river's edge. 
&nbsp; 
Abadeen Executive Chairman and Founder Justin Brown said the project represented a rare opportunity to create the next chapter in Sydn​ey's long history of successful waterfront precincts. 
&nbsp; 
"Throughout Sydney, some of the city's most sought-after addresses have emerged from carefully considered waterfront precincts such as Woolloom​ooloo Wharf, Walsh Bay and Breakfast Point," Brown said.

[smartcode_project:default project_id=13962 project_image_fid=362566] 
&nbsp; 
"What makes these places so successful is that they become much more than residential developments," Brown said.

"They bring together homes, hospitality, marina facilities, public spaces and a strong sense of community in locations where future supply is incredibly limited."

Brown has long described absolute waterfront land in Sy​dney as "finite."

"Once these opportunities are developed, they are rarely replicated. That's why Syd​ney's waterfront precincts have consistently demonstrated strong demand and long-term value growth over many decades. 
&nbsp; 
"<a href="https://www.apartments.com.au/new-apartments/putney-wharf-harbourfront-precinct-20-waterview-street-putney-nsw-2112">Putney Wharf</a> is one of the few remaining opportunities to secure a residence within a masterplanned waterfront community that combines direct water access, marina ownership opportunities and a genuine village lifestyle just moments from the Sy​dney CBD."

[smartcode_project:default project_id=13962 project_image_fid=362564] 
&nbsp; 
PERIFA Founder and Managing Director Fabrizio Perilli said the project reflected a shared commitment to delivering exceptional places that create long-term value for residents and the broader community. 
&nbsp; 
"The topping out milestone is a significant achievement for the Versatile Group and a testament to the collaboration between all project partners, consultants and contractors involved," Perilli said. 
&nbsp; 
"Beyond the residences themselves, <a href="https://www.apartments.com.au/new-apartments/putney-wharf-harbourfront-precinct-20-waterview-street-putney-nsw-2112">Putney Wharf</a> will establish a new waterfront destination that celebrates the history, character and lifestyle of this unique location while creating a lasting legacy for future generations."

[smartcode_project:default project_id=13962 project_image_fid=291195] 
&nbsp; 
Construction is being delivered by <a href="https://www.apartments.com.au/builders/versatile">Versatile Construction</a>, with structural works now substantially complete across the precinct. Attention will progressively shift to the construction of the waterview terraces, apartment façades, services and interior fit-out works over the coming months. 
&nbsp; 
With limited residences and marina berths remaining, <a href="https://www.apartments.com.au/new-apartments/putney-wharf-harbourfront-precinct-20-waterview-street-putney-nsw-2112">Putney Wharf</a> continues to attract strong interest from owner occupiers and downsizers seeking a premium waterfront lifestyle within close proximity to Putne​y Village, Rh​odes, Top Ry​de and the Syd​ney CBD. 
&nbsp; 
As one of the last opportunities to secure a residence within a new masterplanned waterfront community on Sy​dney Harbour, <a href="https://www.apartments.com.au/new-apartments/putney-wharf-harbourfront-precinct-20-waterview-street-putney-nsw-2112">Putney Wharf</a> is expected to remain a highly sought-after address for years to come.

[smartcode_project_cta:default project_id=13962]

Joel Robinson

Abadeen, PERIFA, top out Putney Wharf harbourfront precinct

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]

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.

[smartcode_project:default project_id=151921 project_image_fid=367468]

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.

Staff reporter

Editor's Picks

Have something to contribute?

Developments

New apartments

New townhouses

News