Avant Townhomes is adding to Ivanhoe’s family-sized housing options with <a href="https://www.apartments.com.au/new-townhouses/three-82-ivanhoe-382-upper-heidelberg-road-ivanhoe-vic-3079">Three 82</a>, a collection of just 16 four-bedroom townhomes on Upper Heidelberg Road.

The <a href="https://www.apartments.com.au/developers/intrapac-property">Intrapac Property</a> townhome division has taken a contemporary approach to the traditional family home, pairing larger floorplans with the lower-maintenance format of a townhouse.

[smartcode_project:default project_id=152069 project_image_fid=374394]

Designed by <a href="https://www.apartments.com.au/architects/arcadia-studio">Arcadia</a>, with landscaping by Landsite, the homes feature generous open-plan living and dining areas that connect directly to outdoor spaces, with layouts also designed to maximise natural light and privacy.

Natural stone is used throughout the interiors, including in kitchens that pair stone surfaces with bespoke cabinetry, considered storage and SMEG appliances.

The four-bedroom layouts include built-in wardrobes and a main bedroom with its own ensuite, while family bathrooms service the additional bedrooms. Each home also includes a lock-up double garage and intercom entry.

[smartcode_project:default project_id=152069 project_image_fid=374399]

Energy efficiency has been incorporated into the design through solar panels, double glazing and reverse-cycle heating and cooling, with the homes targeting 7-star energy ratings.

Rather than incorporating extensive communal facilities, Three 82 has been conceived around private residential amenity, with the 16-home scale keeping the focus on individual homes and their own indoor and outdoor spaces.

The development is located at 382 Upper Heidelberg Road, around one kilometre from Ivanhoe Village's cafés and retail and a short drive from Eaglemont Station and Ivanhoe Station.

[smartcode_project:default project_id=152069 project_image_fid=374393]

Several of Ivanhoe's established schools are also nearby, including Ivanhoe Girls' Grammar and Ivanhoe Grammar School. The address also provides access to the suburb's parklands and the wider Yarra River corridor.

<a href="https://www.apartments.com.au/project-marketer/nelson-alexander">Nelson Alexander</a> has been appointed to handle sales.

Construction is underway and progressing well, with Three 82 currently tracking toward completion in Q2 2027.

[smartcode_project_cta:default project_id=152069]

Joel Robinson

Three 82 brings boutique four-bedroom townhome collection to Ivanhoe

Builder-developer&nbsp;<a href="https://www.apartments.com.au/developers/graya">Graya</a> has secured a prime Newstead site from fellow developer Fraser, subsequently lodging plans for The Silo, a major mixed-use residential project in Newstead designed around a new public laneway linking the James Street precinct with the wider Gasworks and Newstead neighbourhood.

Proposed for the corner of Chester and Morse streets, the <a href="https://www.apartments.com.au/architects/bureauproberts">Bureau^Proberts</a>-designed project places its strongest emphasis at ground level, where retail, landscaping and a new cobblestone pedestrian connection would open the site to the surrounding neighbourhood. The design team describes The Silo as “more than a residential building”, positioning the development as an extension of Newstead’s public realm rather than a standalone apartment tower.

“A new cobblestone laneway and landscaped connection between James Street and Gasworks unlock a missing pedestrian link, improving walkability and stitching together two of Brisbane’s significant urban destinations,” Bureau Proberts said in its Urban Design Report.

<img alt="First look: Graya plans The Silo as new pedestrian link between James Street and Gasworks" data-entity-type="file" data-entity-uuid="0ea1b06a-75f5-40a5-b2c5-33c97bc86052" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/silo%20bldg.png?VersionId=KmjsAtNePu57_B31EM_DJ5T6KPJHtcmo" />

The Silo is planned as a mixed-use development incorporating apartments alongside a bar and centre activities including food and drink outlets, indoor sport and recreation, office and retail uses.

Architecturally, Bureau Proberts has conceived the building as a collection of vertically expressed, stepping forms rather than a single uniform tower. The composition rises from an articulated podium before being broken by a triple-height landscaped recreation level, with the upper section becoming more compact before terminating in a landscaped rooftop garden.

The project's name and architectural language draw directly from Newstead's industrial history. Patterned off-form concrete is proposed as the principal façade material, complemented by slender metal rod balustrades and extensive planting. The cylindrical and vertically ribbed elements give the building its silo-like expression, while curved balconies and planted edges introduce a softer subtropical layer.

“The Silo reinterprets its robust forms, scale and materiality through a contemporary subtropical architectural expression, creating a building that acknowledges its industrial legacy, while responding to the way the precinct is occupied today,” Bureau^Proberts said.

The recreation level is one of the defining breaks in the tower. Plans include a lap pool, mature subtropical planting and shared resident facilities within an elevated communal garden. Landscaping continues through the podium and onto the rooftop, where a further garden forms what the architects describe as a “subtropical crown” to the building.

<img alt="First look: Graya plans The Silo as new pedestrian link between James Street and Gasworks" data-entity-type="file" data-entity-uuid="f8451036-35a4-49a9-8d88-2ef4438eba3d" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Silo%20Lane.png?VersionId=h8N31_rYmCEqoNrpt4kbYVQhJGZn60LH" />

At street level, the development has been designed to establish a more permeable block. Retail and hospitality tenancies address the public realm, while landscaped pedestrian spaces lead into the new laneway connection. Renders in the design report show the proposed “Silo Lane” as a substantial opening through the podium, framed by cylindrical concrete forms with cascading planting above.

The Silo continues Graya's move into larger apartment developments after building its reputation across high-end residential projects in Brisbane and the Gold Coast.

Graya buys Frasers Newstead site, plans The Silo between James Street and Gasworks precincts

<a href="https://www.apartments.com.au/developers/wickton">Wickton</a>’s completed Linacre Rise development in Hampton is giving Bayside downsizers the opportunity to move into a spacious apartment near the beach, with the developer covering stamp duty for a limited time.

The 27-residence development has been designed for buyers who want to simplify their living arrangements without giving up the space, warmth and quality associated with a long-term family home. Most apartments have already been secured by Bayside locals, leaving a select collection of two and three-bedroom residences and penthouses available.

Two-bedroom apartments are priced from $1.275 million, three-bedroom residences from $2.25 million and penthouses from $3.375 million, with the completed homes available to inspect and move into now.

[smartcode_project:default project_id=95289 project_image_fid=366760]

<a href="https://www.apartments.com.au/buildings/linacre-rise-hampton-8-10-linacre-road-hampton-vic-3188">Linacre Rise</a> occupies an elevated position on one of <a href="https://www.apartments.com.au/developments/hampton-vic-3188">Hampton</a>’s quiet, tree-lined streets, around 250 metres from the bay and 500 metres from Hampton’s village centre. Its setting gives residents access to the beach, local cafés, shops and Hampton Train Station while retaining the feel of an established residential neighbourhood.

Architecture and interiors by <a href="https://www.apartments.com.au/architects/ewert-leaf">Ewert Leaf</a> draw on the warmth and permanence of traditional brickwork, with the building integrated into terraced landscaping by <a href="https://www.apartments.com.au/landscape-architect/john-patrick-landscape-architects">John Patrick</a>. Ground-floor apartments are elevated above the street and include private garden courtyards, while several upper-level residences have generous balconies and outlooks toward the bay.

Inside, the residences favour natural materials and generous proportions. Herringbone-pattern European oak flooring, natural stone benchtops, premium joinery and Swiss V-ZUG appliances are among the key inclusions, while integrated storage has been incorporated across kitchens, bathrooms, studies and living areas.

The kitchens have been planned as practical spaces for both everyday use and entertaining, with substantial island benches, detailed cabinetry and adjoining dining and living zones. Full-height wardrobes, plush bedroom carpeting and carefully considered lighting reinforce the residential character Wickton sought to retain for buyers moving from larger homes.

[smartcode_project:default project_id=95289 project_image_fid=366769]

A Linacre Rise purchaser said the completed apartment had delivered the space, outlook and construction quality they had been seeking.

“The unit is very light, has views to die for over the bay, all construction materials and fittings are premium quality, we have secure parking for three cars, EV charging at very competitive rates, the neighbours are friendly and there is just a lovely ambiance about the place,” the purchaser said.

Environmental features include solar panels, shared electric vehicle charging stations, rainwater harvesting for toilet flushing and landscape irrigation, double-glazed windows and water-efficient fixtures and appliances.

[smartcode_project:default project_id=95289 project_image_fid=366762]

The development was built by Balmain &amp; Co, with Wickton managing the broader development process through its in-house team.

For downsizers, the project’s completed status removes much of the uncertainty associated with buying off the plan. Purchasers can inspect the finished apartments, understand their outlook and proportions, and move in without waiting for construction to conclude.

The remaining selection includes north-oriented balconies, corner configurations and penthouses with elevated bay views. The developer-paid stamp duty initiative is available for a limited time, with potential savings of up to $200,000 depending on the residence purchased.

[smartcode_project_cta:default project_id=95289]

Limited-time stamp duty offer at completed Linacre Rise apartments in Hampton

Luxury apartment buyers have long prioritised design, space and finishes, but increasingly they're placing equal importance on something less tangible: how easily they can live without relying on a car.

At <a>Richmond Square</a>, <a href="https://www.apartments.com.au/developers/fortis">Fortis</a> believes that convenience begins beyond the apartment itself, with the mixed-use precinct earning a near-perfect Walk Score of 99.

The development has been planned around the idea that some of the most valuable amenities aren't contained within a building, they're the restaurants, cafés, parks, transport connections and daily conveniences that can all be reached on foot.

Located just behind Swan Street and Church Street, <a href="https://www.apartments.com.au/new-apartments/richmond-square-1-wiltshire-street-richmond-vic-3121">Richmond Square</a> places residents within one of Melbo​u​rne's most established lifestyle precincts while offering a quieter residential setting removed from the busiest thoroughfares. East Richmond Station is moments away, trams run along both Swan and Church Streets, and the MCG, Melb​​ourne Park, Yarra River trails and the CBD are all within walking distance. At the same time, the precinct itself will introduce a curated mix of dining, retail, hospitality and wellness offerings, creating a destination that extends well beyond its residential buildings.

[smartcode_project:default project_id=13181 project_image_fid=348530]

For Fortis, that combination of location and scale was what made the site unique.

"<a href="https://www.apartments.com.au/developments/richmond-vic-3121">Richmond</a> is one of Melb​o​urne's most established and distinctive inner-city neighbourhoods, with a rare combination of dining, culture, recreation, public transport and proximity to the CBD," the developer said.

"The opportunity at Wiltshire Street was particularly compelling because the site sits slightly removed from the activity of Swan and Church Streets while remaining only moments from everything that makes the area desirable."

Rather than developing a standalone apartment building, Fortis consolidated 15 individual properties to create one of the larger development parcels assembled on Mel​b​ourne's city fringe in recent years. That allowed the team to deliver a genuine mixed-use precinct comprising 107 residences across Wiltshire House and Carmine House, premium office space, hospitality venues, retail, wellness offerings and a future 57-room hotel.

"The scale of the site allowed Fortis to think beyond a standalone apartment building," the developer said.

"Richmond Square could be planned as a complete lifestyle precinct, bringing homes, workplaces, dining, retail, hospitality and wellness together around a series of activated public spaces. The aim was to create a destination that feels connected to Richmond rather than separate from it."

[smartcode_project:default project_id=13181 project_image_fid=348533]

The emphasis on walkability has also resonated with buyers.

Interest has been strongest from established owner-occupiers, particularly downsizers from Richmond and Melb​ourne's inner east who want to remain close to familiar restaurants, workplaces, family and social networks while moving into a more secure, lower-maintenance home. The project is also attracting Mornington Peninsula and interstate buyers seeking a Melb​ourne residence they can lock up and leave between visits.

Many are looking for generous living spaces, room to entertain, quality finishes and confidence in the project team, but location remains one of the biggest deciding factors.

"For many buyers, Richmond Square provides a way to simplify the practical side of home ownership without reducing the quality of their lifestyle," the sales team said.

"Location is also a major driver of interest. Buyers can remain connected to the CBD, major sporting events, the arts centres, local restaurants, cafes and bars and their family while living in a private and secure residence that is easy to lock up and leave for weekends or longer periods away."

[smartcode_project:default project_id=13181 project_image_fid=348549]

The residences themselves have been designed with that buyer in mind. Award-winning architecture practice SJB and interior designers Hecker Guthrie have created spacious two and three-bedroom apartments and penthouses that prioritise generous living areas, natural light, bespoke joinery and private terraces. Above, a rooftop sanctuary by Acre includes landscaped lawns, bookable dining rooms, barbecue facilities, wellness spaces and panoramic views across the CBD, the MCG and Port Phillip Bay.

Fortis believes Richmond Square reflects a broader evolution in apartment living, where the surrounding neighbourhood becomes just as important as the residence itself.

"Richmond Square introduces a different proposition: generously proportioned residences within a genuinely mixed-use, hospitality-led destination," the developer said.

"The project's location and Walk Score of 99 further support a lifestyle where residents can complete many everyday journeys without relying on a car."

Fortis has assembled an experienced team that includes <a href="https://www.apartments.com.au/architects/sjb-architects">SJB</a>, <a href="https://www.apartments.com.au/interior-designers/hecker-guthrie">Hecker Guthrie</a>, <a href="https://www.apartments.com.au/landscape-architect/acre">Acre</a> and builder <a href="https://www.apartments.com.au/builders/hacer-group">Hacer Group</a>, reflecting the developer's commitment to creating projects with enduring design quality and meaningful connections to the communities in which they sit.&nbsp;

Richmond Square is an expression of that philosophy, bringing together homes, workplaces, hospitality and wellness within one of Me​lb​ourne's most walkable neighbourhoods.&nbsp;

Construction is now almost complete, providing purchasers with growing confidence ahead of its expected September 2026 completion.

[smartcode_project_cta:default project_id=13181]

Walk Score of 99 places Richmond Square at the heart of Melbourne's most connected lifestyle

<h3 data-end="19" data-section-id="1dvgwoe" data-start="0">Summary</h3>

<ul data-end="634" data-start="21">
	<li data-end="170" data-section-id="1o77v31" data-start="21">Walker Corporation has lodged plans for a second major residential development in the Maroochydore City Centre, a 29-storey tower known as Celeste.</li>
	<li data-end="327" data-section-id="1lb0y6t" data-start="171">The Plus Studio-designed proposal at Lot 30 Sunshine Coast Parade would deliver 208 apartments, including four four-bedroom sub-penthouses and penthouses.</li>
	<li data-end="487" data-section-id="za720" data-start="328">The application comes as Walker doubles down on Maroochydore following the strong sales campaign at SOL by Walker, where the first tower is nearing sell-out.</li>
	<li data-end="634" data-section-id="5sovec" data-start="488">Walker is a key partner in the transformation of the Maroochydore City Centre, which is expected to ultimately deliver at least 4,000 new homes.</li>
</ul>

Walker Corporation is doubling down on Maroochydore following the successful sales campaign at its first residential project in the emerging CBD.

The national developer has filed plans for <a href="https://www.apartments.com.au/new-apartments/celeste-30-sunshine-coast-parade-maroochydore-qld-4558">Celeste</a>, a new 29-storey apartment tower at Lot 30 Sunshine Coast Parade, just metres from its under-construction SOL by Walker development.

The plans, prepared by Plus Studio, would see 208 apartments delivered across a 100-metre tower on the 2,376 sqm site, which fronts Sunshine Coast Parade, First Avenue and Future Way within the Maroochydore Priority Development Area.

<img alt="Walker" data-entity-type="file" data-entity-uuid="17038209-6fea-4ed2-855d-fd4df65b3d02" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-10%20at%2010.24.16%E2%80%AFAM.png?VersionId=iZD.oVXcQn.aLpUytDAW.CWjxP4puWMy" />

The proposed apartment mix comprises 36 one-bedroom apartments, 48 two-bedroom apartments, 72 two-bedroom apartments with an additional multipurpose space, and 48 three-bedroom apartments.

The upper levels would be capped by two four-bedroom sub-penthouses and two four-bedroom penthouses, taking the total apartment count to 208. The preliminary yield study also provides 262 car spaces, 114 resident bicycle spaces and storage for each apartment.

It represents Walker's next major residential move in the new Maroochydore CBD after the success of SOL by Walker, its $220 million two-tower project nearby.

SOL launched to market in early 2025 and has since seen strong demand, particularly from local owner-occupiers. By February this year, Walker said the first SOL tower was nearing sell-out, with a strong waitlist also emerging for its recently released penthouse collection.

Construction is already underway on SOL, with the first tower expected to be completed in late 2027 and the second to follow in early 2028.

[smartcode_project:default project_id=147777 project_image_fid=319846]

<h2 data-end="2518" data-section-id="1b2dyo5" data-start="2459">Celeste to rise 100 metres over Maroochydore City Centre</h2>

Celeste would take a different form to the twin 19-storey buildings at SOL.

Plus Studio has designed a single 100-metre tower above an activated podium, with the architecture responding to the site's prominent position and three street frontages.

The podium would incorporate commercial tenancies and public art, with sweeping façade elements wrapping the street edges. The scalloped concrete podium has been inspired by the patterns created in sand at low tide, while extensive landscaping would continue vertically through the tower.

The ground level plans show three commercial tenancies addressing Sunshine Coast Parade alongside the residential lobby and landscaped public realm. The podium would then accommodate several levels of car parking before the residential tower rises above.

<img alt="Celeste" data-entity-type="file" data-entity-uuid="121f77b1-71c5-46d7-9b36-0a7d474211ca" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-10%20at%2010.24.47%E2%80%AFAM.png?VersionId=MGrg9Hb7HgzLN0Lelq_xrXNAruVl77ia" />

Plus Studio said the tower had been designed to maximise views from each apartment, taking in the Maroochy River, Sunshine Coast hinterland, Cotton Tree and Maroochydore Beach and ocean.

Those views have also shaped one of the project's key features, with Walker proposing to put the primary resident amenity on Level 29 rather than lower within the building.

The rooftop would feature a 284.9 sqm pool area with an infinity edge, along with a cold pool, spa, sauna, 93.2 sqm gym, sunset lounge, BBQ and dining areas, pool deck and private dining space. Cabanas and day beds are also shown across the recreation level.

The two penthouses would extend across the upper levels and each feature private terraces and plunge pools.

<h2 data-end="4202" data-section-id="v5f4ix" data-start="4160">Walker's growing Maroochydore footprint</h2>

Celeste further reinforces Walker's commitment to the transformation of Maroochydore City Centre.

Walker is one of the key partners delivering the new CBD alongside Sunshine Coast Council and SunCentral Maroochydore, with the broader 62-hectare Priority Development Area occupying the former Horton Park Golf Course and surrounding land.

The precinct is ultimately expected to accommodate at least 4,000 new homes as Maroochydore evolves into the Sunshine Coast's principal commercial and residential centre.

When SOL secured approval in February 2025, Walker Managing Director and CEO David Gallant described it as the "first of many residential projects" the company planned for the Maroochydore City Centre.

Celeste now provides the clearest indication yet of what comes next.

The site sits immediately within the new CBD, with the design report identifying Sunshine Plaza and surrounding parkland within walking distance and Maroochydore Beach around a five-minute drive away.

For Walker, the timing of the application comes as its first residential bet on the new CBD appears to have been vindicated.

SOL has progressed from planning approval to construction while its first release has approached sell-out, giving Walker confidence to push ahead with another 208 apartments and take its residential pipeline in the Maroochydore City Centre to around 450 dwellings across the two projects.

Celeste remains subject to planning approval, with the architectural material describing the scheme as a preliminary yield study that may change through the assessment process.

Walker doubles down on Maroochydore with 29-storey Celeste apartment tower

Prominent New Zealand apartment and hotel operator, <a href="/developers/safari-group">Safari Group</a>, is offering up a prime investment opportunity for Australians to purchase off the plan in one of the world’s most popular ski destinations.

They recently took to market Mountain Oak Queenstown Apartments, in the growing precinct of Remarkables Park in Frankton, near the airport and at the foot of The Remarkables - the mountain range the locals like to call “The Remarks”.&nbsp;

Sydney investors have shown interest in the one, two and three-bedroom apartments that secure high-season occupancy six months over the year, primarily over summer and winter months.

They average 90 per cent occupancy across their portfolio over January, February, March, August, November and December, while shoulder season months of April, July, September and October are still occupied 70 per cent of the time, with the growing appeal of Queenstown becoming not just a hotspot for the snow, but a lifestyle destination.

Even in the low seasons of May and June, occupancy levels reach around 40 per cent.

<img alt="Safari Group’s Mountain Oak Apartments brings new investment potential to Queenstown" data-entity-type="" data-entity-uuid="" src="https://res.cloudinary.com/dz9xllyip/image/fetch/f_auto,c_limit,w_1440,q_auto/https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/field/image/Ext_Cam15_Sunny.jpg?VersionId=SJAROUM_1s.Tr5ciMk4EEj5oAt_Vewmv" />

Safari’s Safari Hotels arm can also manage the holiday letting for an investor, from the listing on holiday accommodation websites such as Airbnb and Booking.com to the cleaning and maintenance of the investment. They’ve been in the short stay management business for 15 years and offer 24/7 support for investors, an important convenience benefit for any overseas investor

Another major drawcard for Australians is that New Zealand doesn’t have a stamp duty policy - so the entry price of NZ$639,000 (AU$586,000), is all that is payable on completion.

<img alt="Safari Group’s Mountain Oak Apartments brings new investment potential to Queenstown" data-entity-type="" data-entity-uuid="" src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,dpr_2.0,q_auto:good/https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/313_Livingv2_WEB.jpg?VersionId=nV229fM0ZeYpoxOrX372HyGjfwY_LR8c" />

Safari is starting construction of the 141 apartments in Q2 this year, with a two-year build estimated to complete in mid-to-late 2027.<img alt="" data-entity-type="" data-entity-uuid="" height="15" src="https://lh7-rt.googleusercontent.com/docsz/AD_4nXczFpFAb7WuA6f4f9TtKWcqXyNwR8qqtakWv352ERkpqNlP3KwIo8YKxw67jZNHfpjEGIZGv5MQTbnvLZwNt8iu9IVdOrswOjCvBZ4zhSoOOLrpt6etVEZTN1gkBho0r_R72zdHNA?key=yq3daOanqHSb88QFd8jGYKdb" title="Click and drag to move" width="15" />​

The apartments will feature modern amenities and contemporary designs with expansive windows capturing sweeping views of The Remarkables mountain range.&nbsp;

Interiors are equipped with modern finishes, premium appliances, and secure electronic key-locked doors, ensuring a comfortable living experience for residents and guests alike.

With its strategic location near Coronet Peak and Cardrona Alpine Resort, as well as key retail and dining precincts such as Market Street, Five Mile Shopping Centre, and Remarkables Market, Mountain Oak offers a strong proposition for investors seeking high rental yields and capital appreciation in one of New Zealand’s most sought-after locations.&nbsp;

Queenstown’s sustained demand for visitor accommodation and rental properties is underpinned by a shortage of housing options, attracting both local and international buyers.

Safari Group offers low-touch investment proposition in Queenstown’s popular ski fields district

Barrister Mark Cleary and wife Melanie, have sold their&nbsp;Clanville Road,&nbsp;Roseville home for $1.9 million.

The modernised 1937 house&nbsp;retains&nbsp;timber floors, decorative cornices, picture rails, leadlight windows along with a&nbsp;leadlight living room&nbsp;dome.

Set on a 1026 square metre block, the house comes with&nbsp;four bedrooms and&nbsp;two bathrooms.

More than $1.75 million was tipped for its recent auction through&nbsp;Pamela and Malcolm McCulloch of Belle Property.

It last traded at $1.46 million in 2008 having been listed two years earlier&nbsp;in 2006 with $1.8 million hopes.

The median house price in <a href="/news">Roseville</a> is $1.49 million, according to RP Data.

ntrotman-Et3xWpamVh

Modernised Roseville 1937 charmer secures $1.9 million 

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The expanding Zarraffa’s Coffee chain has signed a 10 year lease for a new coffee shop at 175 Ferry Road in the recently refurbished Southport Park Village in Southport on the Gold Coast.
Industry sources indicated the rental was approximately $675 square metres gross for the 160 square metre site which includes external seating and a drive through area.
The deal, which includes two, five-year renewal options, was negotiated by CBRE’s retail nanager Kevin Ramsey.
The new store is located on a transport corridor, directly across from The Southport School, at 175 Ferry Road.
Zarraffa’s Coffee founder and CEO, Kenton Campbell selected the area specifically due to its strategic location and accessibility. 
“Site selection is critical to the success of our drive thru operations and we seek to ensure all stores are positioned in accessible locations that enjoy close proximity to both residential areas and major thoroughfares,” he says. 
Zarrafa’s operates an existing Ferry Rd store, opened in 2009 located on the corner of Cotlew Street and Ferry Road. It will continue to operate in tandem with the new site to service commuters and local residents in the vicinity. 
Ramsey says<a href="https://www.realcommercial.com.au/property-retail-qld-southport-500493627" target="_blank"> Southport Park Village’</a>s location - close to a number of schools and exposure to thousands of vehicles has driven significant tenant interest. 
He says negotiations have commenced with a dental clinic, gym and beauty services tenant.
Tenancies at Southport Park Village range in size from 35 square metres to over 250 square metres while rents range from $500 to $675 per square metre for retail and $300 to $400 per square metre for commercial office tenancies.
Zarraffa's has around 50 stores across South East Queensland.
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lschlesinger-FZcF9M3vE6

Zarraffa’s Coffee signs 10 year Gold Coast lease

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Investors with around $400,000 to spend may be able to acquire a Bankstown strata office with the potential to deliver a return in excess of 7%.
The 103 square metre office is in the NAB Building at 410 Chapel Road in the heart of the Bankstown CBD.
It is listed for sale at $399,000 plus GST having previously been advertised at $428,000 in September last year - a discount of around 7%.
It is for sale as vacant possession.
It has been listed for rent at $29,000 per annum net, which equates to a yield of around 7.2%.
Bankstown is around 20 kilometres south west of Sydney and part of the Greater Western Sydney growth corridor.
It is being sold by <a target="_parent" href="https://commercial.net.au/listing/details.aspx?listingID=1974926">Chris Wade of the Commercial Property Group.</a>
It includes a reception area, boardroom, four offices and server room plus self contained kitchen facilities and two basement car spaces with direct lift access.
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Reduced Bankstown office offers 7% plus yield potential

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Art deco apartments in Perth might be seeing a resurgence with a new influx of apartment living in Western Australia.
As of the 2011 Census, there are 56,754 apartments in Greater Perth, with a post-census fillip underway. This figure comprises 9.1% of the total occupied dwellings in Greater Perth.
Ten years earlier, in 2001, Greater Perth had just 42,670 apartments, which then comprised 8.3% of the total occupied dwellings for the region.
This demonstrates a growth in demand for apartment living in the last decade.
According to the 1996 Census, the whole of Western Australia had 39,914 apartments. There were 62,990 apartments in Western Australia by 2011.
Its most prominent art deco apartments have been Perth’s Lawson Apartments, and Applecross’ Raffles Hotel. The latter was owned by the late Sydney businessman Abe Saffron whose plans to demolish the property was opposed by the Art Deco Society of Western Australia.
The property was sold to developer Brookfield Multiplex in 2002 - since been preserved but with a 17-storey apartment aptly named Raffles Waterfront completed in 2006.
The latest art deco complex is in Subiaco, the Simon Chugg building at <a target="_blank" href="https://www.realestate.com.au/property-apartment-wa-subiaco-114067739">23 Railway Road </a> which was purchased by property investment group Devwest for $4,000,000, according to RP Data records.
Simon Chugg started his business in 1897 at the former premises of his father-in-law, A. E. Atkins. The business supplied funeral furniture and soft furnishings, and is one of Subiaco’s oldest retail outlets.
The developer plans to retain the façade of the art deco building, while incorporating elements of art deco architecture into the $7 million mixed-use development, named <a target="_blank" href="https://railway23.com.au/index.php">Railway 23</a>.
The five-storey development designed by local Subiaco architects McDonald Jones (and pictured below) will incorporate ground floor retail, three levels of office space, and luxury apartments on the top floor.
<img height="289" width="470" src="/images/stories/2013/07/subiacojuly17one.jpg" alt="subiacojuly17one">
One-bedroom apartments are <a href="https://www.realestate.com.au/property-apartment-wa-subiaco-114067739">priced from $575,000</a>, while two-bedroom apartments start from $875,000.
Railway 23 has attracted some opposition from the Subiaco town council, which feared the new development would be too tall and therefore overshadow the heritage value of the S. Chugg building. In addition, there were concerns that the bulk of the building would not be in line with Subiaco’s “intimate streetscape”.
However, a response by TPH heritage planner Susannah Kendall referenced a four-storey office building currently being erected next door to Railway 23.
“Requiring the height to be reduced on the basis that the existing streetscape is ‘intimate’ and ‘low density/low scale’ is misinformed and as a result is unreasonable,” Kendall said in her response.
The Simon Chugg building was sold in 1994 for $600,000, according to RP Data records.
The building was listed for rent in November 2010 at an asking price of $65,000 per annum, and in January 2010 at an asking price of $80,000 per annum.
According to the <a target="_blank" href="/news">latest RP Data report</a>, the median sale price for units in Subiaco is $621,500, up 9% on last year. The average discount required to sell a unit in Subiaco is 9.2%, while private treaty sales average 67 days on market.
The median asking rent for units in Subiaco is $600 per week, while gross rental yield currently stands at 5%.
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Perth's art deco renaissance as apartment living takes off

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CBD office vacancy rates continue to rise with the greater availability of space putting pressure on yields.
Jones Lang LaSalle recorded negative net absorption of -191,900 square metres in the June quarter and a rise in the national CBD office market vacancy rate to 10.9%.
The graph below also shows the impact of vacant sub-leased space on the rising vacancy rate.
<img src="/images/stories/2013/larry_uploads/JLL_office_vacancy_rate.jpg" width="470" height="314" alt="JLL_office_vacancy_rate">
Jones Lang LaSalle reports that five of the six CBD office markets are recording double digit vacancy rates as of June 2013.
Brisbane (14.3%), Adelaide (12.7%) and Canberra (11.6%) recorded higher vacancy over the quarter, while Sydney (10.2%) and Melbourne (10.0%) moved above 10% for the first time in the current cycle.
Perth (7.9%) is the only CBD office market now recording vacancy below 10%. 
In line with a rise in vacancies, yields are compressing:
<img src="/images/stories/2013/larry_uploads/JLL_office_vacancy_rate2.jpg" width="470" height="295" alt="JLL_office_vacancy_rate2">
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National CBD office vacancy rates rises to 10.9%: Chart of the week

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Melbourne’s cheapest auction sale price last weekend was in the north-east suburb of Alphington, according to Australian Property Monitors.
Just a hop, skip and a jump from Kew and Ivanhoe, the unit at 6/40 Yarralea Sreet, sold for $252,500, with a starting price guide of $220,000 to $250,000.
Real estate vendors Hocking Stuart advertised the home as "offering affordability with a sought after location, live in with convenience at your fingertips, lease out with this popular location, all with an entry level price tag."
The light filled one bedroom apartment in the heart of Alphington features a kitchen with open meals area, lounge, master bedroom and bathroom as well as laundry facilities, car space on title and gas heater.
The apartment was last listed for rent in March 2013 for $250 per week.
The median price of units in the Alphington sits at $502,000, up over the past five years by 24%, with an average rental price of $325 per week, <a href="/news">according to RP Data</a>.
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Alphington $252,000 sale the week's cheapest auction result for Melbourne

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Some of the fastest selling houses in NSW can be found in suburbs such as Eagle Vale and St Peter's, with an average of 33 to 35 days spent on the market, according to RP Data. 

Properties located in Revesby Heights, Heathcote, Bronte and Crows Nest are also quick to sell, with time on the market ranging between 37 to 62 days.
The states slowest selling houses can be found in Crescent Head, with an average of 222 days on the market and Greenwell Point with an average of 221 days on the market.
Denhams Beach, Berridale, Condobolin and Tuggerawong are also amongst the slowest selling suburbs.


A three-bedroom 1920s home at 19 Florence Street in St Peter's sold prior to auction for $870,000 in June, after a mere 21 days on the market.
Situated on 190 square metres and including two bathrooms, the property last sold in October 2009 for $575,000, reflecting an annual price appreciation of 9.04%.
The property was listing through Oliver Miles of <a target="_blank" href="https://raywhitegladesville.com.au/nsw/st-peters/973088/#contact-the-agent">Ray White Gladesville.</a>
A three-bedroom home at 48 Edith Street was snapped up for $992,000, after being on the market for 23 days.
The property is situated on 299 square metres and includes two bathroom.
It last sold in November 2002 for $490,000, reflecting an annual price appreciation of 6.82%.
The property was listed through Joseph Tropiano and Adam Touma of <a target="_blank" href="https://www.belleproperty.com/selling/NSW/Inner-West/St-Peters/House/34P0546-48-edith-street-st-peters-nsw-2044">Belle Property</a>.
The median house price in <a target="_blank" href="/news">St Peters</a> is $694,000, according to RP Data. 
Henry Nooyen of LJ Hooker St Andrew's says St Peters and Eagle Vale are among the fastest selling suburbs due to the affordability of properties.
"We have a lot of people who come from the Liverpool area, where the properties are around 20% more expensive.
"Eagle Vale is a cheaper suburb and mostly consists of three-bedroom, one-bathroom homes," says Nooyen.
Nooyen says these suburbs attract investors as they rent our quickly.
The median rental yield for a house in Eagle Vale is 6.1% and 4.4% in St Peter's.
 
Some of NSW fastest selling houses 


 
<a target="_blank" href="/news">St Peters</a> – 35.9 days 

<a target="_blank" href="/news">Bronte</a>  – 62.1 days

<a target="_blank" href="/news">Crows Nest</a>  – 50.2 days 

<a target="_blank" href="/news">Revesby Heights</a>  – 37.4 days

<a target="_blank" href="/news">Eagle Vale</a> – 33.9 days

<a target="_blank" href="/news">Heathcote</a> –  42.6 days

 
Some of NSW slowest selling houses 


 
<a target="_blank" href="/news">Berridale</a>  –217 days

<a target="_blank" href="/news">Greenwell Point</a>  – 221.4 days

<a target="_blank" href="/news">Denhams Beach</a> – 187.9 days

<a target="_blank" href="/news">Condobolin</a> - 188.7 days

<a target="_blank" href="/news">Tuggerawong</a> - 150.8 days
<a target="_blank" href="/news">Crescent Head</a>  – 222.8 days 

 
Readers can expect mild adjustments from month to latest month.
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Eagle Vale and St Peter's among NSW's fastest selling suburbs

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The median house price in Greater Geelong has recorded a slight increase of 0.6% to $392,500 in June, according to the Real Estate Institute of Victoria. It is 1.9% higher than a year ago.

The largest increase in house price was in Bannockburn, which increased by 5.5%t to $382,500, followed by Barwon Heads, increasing by 3.4% to $755,000 and Geelong West, increasing by 3.3% to $427,500.
The median house price in the Surf Coast Shire fell slightly by 0.8% to $605,000 but remains 2.5% above a year ago. The largest increase was in Jan Juc which rose 1.9% to $588,750.
Within the Borough of Queenscliffe, the median house price remained stable at $700,000 in June, reflecting a 1.4% increase from a year ago.
Regarding units, prices remained stable in both the City of Greater Geelong and the Surf Coast Shire at $310,000 and $432,500 respectively in June.
The median unit price in the Borough of Queenscliffe, however, fell by 4.1% to $467,500.
The rental vacancy rate in the Geelong and Barwon region fell from 6.7% in May to 5.5% in June in line with a tightening across regional Victoria.
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Geelong prices holding up despite those unemployment fears

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Colliers International agent Peter Chittenden wrote that for varied reasons a flat, or unit, have historically been seen as ‘second-best’.
He says this <a target="_blank" href="https://www.propertyobserver.com.au/demographics/a-flat-or-a-unit-has-always-been-viewed-as-second-best-why-is-this-so-peter-chittenden/2013071563314?utm_source=po&amp;utm_medium=aida&amp;utm_campaign=ourobservers:adviceandanalysisforreaders">stems back to when in the 1830s </a>the first multi-unit homes were built in New York and these were not really flats or apartments, because as inner-city tenements a number of dwellings shared a bathroom.
Peter writes that "from such a humble start apartment living is now a fully mature market, and when it comes to CBD apartments a very complex market and a rich demographic."
{module Do you think that flats or units are still considered to be 'second-best' to houses?}
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po-LsXgBTHBmX

Do you think that flats or units are still considered to be 'second-best' to houses?

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Our economics teacher at school once said to us: “Don’t be surprised if there’s a recession when you leave school.” He was a cantankerous old sod, and we just thought he was being antagonistic.
Unfortunately, he then died, so the poor chap didn’t stick around long enough to know whether his warning would come true.
What I now understand is that he was actually being realistic, rather than antagonistic. Recessions tend to come around surprisingly regularly in developed world economies, and perhaps the most surprising thing of all is…that we are still surprised when they arrive!
As it turned out, the US did fall into recession briefly in 1990-1, for after a period of high inflation and credit-driven expansion, the Fed jacked up interest rates, which capped growth.
In 1990, there was an oil price shock, which, after the lending boom of the 1980s combined with a fall in consumer confidence, ended in a sharp fall in growth and a recession.
Fortunately it was a short-lived affair and growth returned thereafter.
Recessions aren’t unusual
As <a href="https://www.fool.com.au/%E2%80%8E" target="_blank">Motley Fool </a>once wisely said:
“There will be seven to ten recessions over the next 50 years. Don’t act surprised when they come.”
Australia hasn’t had a recession now, for more than two decades. Famously, in November 1990, Paul Keating said:
“The [national] accounts do show that Australia is in a recession. The most important thing about that is that this is a recession that Australia had to have “
It’s one of the most famous quotes in Australian economics, and implies that sometimes economies actually need to have a recession to clean up the excesses of the past.
Of course, in an ideal world developed economies would continue with moderate growth in perpetuity, but it’s not what seems to happen in practice.
Often economic growth surges ahead at an irrational pace before reversing painfully.
  
<hr class="system-pagebreak">
The next Australian recession?
Will we be headed for recession in the near future?
Personally, I believe the answer is ‘probably not’, but economic growth will very likely slide as the investment phase of the mining boom seems to have passed its peak.
Despite the slowing economy to date, unemployment remains low at around 5.5% and GDP growth remains positive at 2.6%, although as noted this may well fall.
The Reserve Bank forecasts that its stimulatory monetary policy (record low interest rates) will see GDP growth continuing through 2013 and 2014, and a return to 2.5% to 4% GDP growth through 2015, which would be a tremendous result if it actually eventuates.
Of course, there is a chance of recession. It nearly always pays to be wary when a commentator says with absolute cast-iron certainty that “this will happen” or “such-and-such will eventuate.” The future is inherently uncertain and cannot be seen with such clarity.
If China suffers a major reversal and commodity prices fade, then Australia will be materially impacted, no question.
And of course, others will simply continue to predict a recession forever into the future. There’s nothing unusual in that either; people are always predicting doom and gloom, and – given that we haven’t had a recession for more than 20 years – one day they will again be right (and that’s one thing I can predict with certainty!).
 
<hr class="system-pagebreak">
What would a recession mean for investors?
For share investors, if Australia sinks into recession share price valuations will naturally likely recede into single digit PE ratios.
So you either need to have an investment plan which sees you selling your holdings before valuations fall that low again (timing the market), or you need to be employing a strategy which allows you to pick up more holdings when prices are once again low and shares are ‘on sale’.
One unfortunate consequence of Australia not having had a recession for more than two decades is complacency with regards to property market commentary. Some commentators continue to talk about persisting very high levels of growth, but very high growth cannot continue forever, and if a genuine bubble forms then it is likely that it would eventually burst.
Australia has avoided for recession for so long commentators often have little or no context for considering what happens to property markets in a genuine recession.
When Australia does again see recessionary times, you absolutely do not want to be holding properties which are in low demand, which often includes remote outer or fringe suburbs, and many regional centres.
Such areas can perform reasonably enough when the market is on the up, for a “rising tide lifts all boats”, but one reason that prices remain cheap is that when recessions do come along to clean up the excesses of the past, owners of illiquid property in low demand can experience a drawn out and devastatingly painful slow-motion deflation in prices.
Trust me, I’ve seen it happen to plenty of people before: I’m British.
Pete Wargent holds a range of finance and property qualifications and is the author of <a href="https://petewargent.blogspot.com.au/" target="_blank" rel="nofollow">Get a Financial Grip – a simple plan for financial fr</a><a href="https://petewargent.blogspot.com.au/" target="_blank" rel="nofollow">eedom.</a>
 
 
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