<a href="https://www.apartments.com.au/new-apartments/smith-by-valli-collingwood-224-228-smith-street-collingwood-vic-3066">Smith Collingwood</a> is a new boutique apartment development bringing a refined, design-led approach to one of Melbourne’s most established inner-city neighbourhoods.

Designed by <a href="https://www.apartments.com.au/architects/pandolfini-architects">Pandolfini Architects</a> with interiors by <a href="https://www.apartments.com.au/interior-designers/lisa-buxton-interiors">Lisa Buxton</a>, Smith by Valli sits on iconic Smith Street and comprises just 22 residences tailored toward owner-occupiers seeking a more considered style of apartment living.

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The design of Smith focuses on a north-facing orientation across all residences, a relatively uncommon feature in dense inner-Melbourne settings. Each apartment has been planned to maximise natural light and outlook, alongside a material palette defined by warm tones, custom joinery, and a full suite of Gaggenau appliances.

The development comprises a mix of one, two, and three-bedroom apartments, with pricing currently ranging from just under $1 million to around $4.85 million for the premium penthouse-level residences, reflecting growing demand for luxury owner-occupier product in Melbourne’s inner urban market.

Residents will also have access to a private rooftop garden designed as an elevated retreat above the city, &nbsp;featuring curated landscaping, veggie boxes, intimate seating areas and spaces for relaxed gatherings. Sustainability has also been integrated into the project through a 7-star energy rating and two secure bicycle facilities for every residence.

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Smith by Valli sits in the heart of one of Melbourne’s most established retail and hospitality strips, within walking distance of venues such as Falco Bakery, Carnation Canteen and Alimentari, alongside parks and everyday services. With a Walk Score of 99, the location reinforces the project’s positioning toward buyers prioritising walkability and access over car dependency.

With only a limited number of residences, Smith reflects growing demand for smaller, highly curated apartment developments that prioritise design quality, liveability, and connection to neighbourhood character.

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Joel Robinson

Smith by Valli delivers design-led apartments to Melbourne’s inner north

<a href="https://www.urban.com.au/developers/far-east-consortium">Far East Consortium</a>’s 640 Bourke Street stands as a testament to&nbsp;<a href="https://www.urban.com.au/developments/melbourne-vic-3000">Melbourne</a>’s ability to bridge its storied past with a bold vision for the future.&nbsp;

Rising above the heritage-listed Eliza Tinsley building, the development reflects a broader shift toward adaptive reuse in the city, where historical assets are retained and reinterpreted as part of new residential development.

Designed by <a href="https://www.urban.com.au/architects/rothelowman">Rothelowman</a>, <a href="https://www.apartments.com.au/new-apartments/640-bourke-street-melbourne-640-bourke-street-melbourne-vic-3000">640 Bourke Street</a> incorporates the Eliza Tinsley building as its foundation, housing a grand gallery and lobby space that serve as both a functional and symbolic centrepiece. The heritage façade informs the tower’s design, creating a connection between Melbourne’s past and its contemporary skyline.

"It's a significant asset and wants to be celebrated and experienced by all residents every single time they go in and out of the building," Rothelowman Principal Stuart Marsland said.

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Above this historic base, the 68-storey tower will deliver just over 600 residences, a notable reduction from earlier schemes, reflecting a deliberate move toward larger-format apartments and a stronger owner-occupier focus.

Unlike traditional CBD developments that prioritised investor stock, 640 Bourke Street has been repositioned to respond to changing buyer expectations.

"The discussion was all around making 640 Bourke Street the best residence to live in, to be much more focused on the people in the building rather than people looking at the building," Marsland explained.&nbsp;

This shift is evident in the development’s interiors, which emphasise practical luxury with spacious layouts, high ceilings, and floor-to-ceiling windows framing sweeping views of Melbourne and Port Phillip Bay.&nbsp;

“What it's meant for 640 Bourke is we've actually reduced the number of apartments. We've increased the overall size of the apartments. We don't have any studios in here, and what that does for a project is it elevates it," Lauren Sheldon, Far East Consortium’s Director of Sales and Marketing, said.&nbsp;

[smartcode_project:default project_id=509 project_image_fid=365687]

Rothelowman Associate Jun Chang added, "We were given the opportunity to be more generous. The apartments became bigger and squarer than any other apartments which had been designed in the CBD before that."&nbsp;

Amenities spanning more than 3,000 sqm across multiple levels further reinforce this focus on resident experience. These include a pool, gym, co-working areas, and a range of hospitality-inspired spaces such as a whisky lounge, library, and private dining rooms, many drawing reference from traditional bathhouses and Melbourne’s laneway culture.

"We wanted to make both the pool and the gym area to be absolutely destinational, and when you traverse across to these spaces, there is a gentle familiarity to the beautiful notions of the hammams and the Roman baths, a gentle nod to history," Chang noted.

At street level, the project contributes to the ongoing transformation of the western CBD, with upgrades to Langs Lane and the introduction of retail, hospitality, and gallery spaces designed to activate the precinct and strengthen its connection to the surrounding city fabric.

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The location places residents within walking distance of Southern Cross Station, Flagstaff Gardens, Queen Victoria Market, and the Docklands waterfront, positioning the development within a rapidly evolving inner-city neighbourhood.

"We believe it's the best site left in the city of Melbourne," Craig Williams, Executive Director at Far East Consortium, said.&nbsp;

640 Bourke Street is Far East Consortium’s 14th building in Melbourne’s western CBD.

"A very elegant designed building. It's going to be a Melbourne statement for many, many years to come."

One-bedroom apartments are priced from around $640,000, with 640 Bourke Street targeting completion in 2029.

Renders shown are Artist's Impressions correct as of May 2026.

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Heritage-led design anchors Far East Consortium’s 640 Bourke St, Melbourne

<a href="https://www.apartments.com.au/developers/mayd-group">MAYD Group</a> has set a new residential price record in Queensland with the $30 million sale of the penthouse at its <a href="https://www.apartments.com.au/new-apartments/one-burleigh-88-the-esplanade-burleigh-heads-qld-4220">ONE Burleigh</a> development in Burleigh Heads.

The sale equates to around $37,500 per sqm.

The two-level, 800 sqm penthouse, featuring five bedrooms, five bathrooms, five car spaces, and a private infinity pool overlooking the Pacific Ocean, was acquired by a Gold Coast-based entrepreneur, highlighting continued demand for ultra-premium beachfront product.

Selling agent Freddie Tehle of PRD Burleigh Heads said the result reflects tightening supply of high-quality, large-format apartments in Burleigh.

“There’s very limited opportunity to secure this level of scale and absolute beachfront position in <a href="https://www.apartments.com.au/developments/burleigh-heads-qld-4220">Burleigh Heads</a>,” Tehle said.

“Buyers are increasingly seeking apartments that genuinely replace a standalone home, and this penthouse delivers that with its size, privacy, and direct ocean frontage.”

[smartcode_project:default project_id=146358 project_image_fid=323057]

The sale comes as construction progresses on ONE Burleigh, a boutique development of 17 full-floor residences at 88 The Esplanade, scheduled for completion in early 2027.

Developed by MAYD Group and designed by <a href="https://www.apartments.com.au/architects/mas-architecture-studio">MAS Architecture</a> with interiors by <a href="https://www.apartments.com.au/interior-designers/sici-design">Sici Design</a>, the project has been positioned as a collection of house-sized beachfront apartments, each occupying an entire floor with around 381 sqm of internal and external living space.

When construction commenced, MAYD director Todd Mould pointed to the long-term resilience of premium coastal real estate as a key driver behind the project.

“Real estate, particularly at the premium end, remains one of the most resilient and proven long-term investment avenues,” Mould said.

“Our ambition is that anyone who buys a MAYD-built product can genuinely feel the care, craftsmanship and commitment we bring to every detail.”

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Each residence has been configured with four bedrooms, multiple living zones, a private office, and expansive ocean-facing terraces. Interiors draw on a restrained material palette, including travertine stone, timber joinery, and integrated premium appliances.

Interior designer Sici Design said the approach was to reflect the project’s coastal setting through both materiality and spatial planning.

“ONE Burleigh is our vision of luxury living, designed to bring the essence of Burleigh Heads' vibrant coastal beauty into an unparalleled residential experience.”

Residents will have access to a suite of wellness-focused amenities, including pools, sauna facilities, and dedicated relaxation spaces, reflecting a broader shift toward lifestyle-driven apartment design on the Gold Coast.

[smartcode_project:default project_id=146358 project_image_fid=323052]

The project occupies a southern Esplanade site with uninterrupted beachfront frontage, an increasingly rare offering in Burleigh Heads, free from the Norfolk Pines that line much of the coastline and often limit direct ocean outlook.

Mould said the design intent was to balance that outlook with a sense of retreat.

“Living at ONE Burleigh is about how your day naturally unfolds, morning light across the ocean, coffee on the balcony, and being in Burleigh but elevated above the noise.”

The result further reinforces Burleigh Heads’ emergence as one of the Gold Coast’s most tightly held and supply-constrained beachfront markets, where boutique, owner-occupier-focused developments are increasingly setting new price benchmarks.

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MAYD Group sets Queensland record with $30 million penthouse sale at ONE Burleigh in Burleigh Heads

Apartment developers in the Gold Coast are finding new, creative ways to differentiate themselves from competing projects, as new supply starts to flow through up and down the Coast.

Developer BIG Projects brought in the renowned Sydney-based design studio YSG Studio to craft the interiors for The Frederick, BIG Projects' new Mermaid Beach project and YSG Studio's first move into the multi-residential development space.

[smartcode_project:default project_id=110588 project_image_fid=5346]

It was a strategic move for BIG Projects to bring in a Sydney eye to the development.

“Our role is to give our design partners the space and freedom to explore,” says Matt Barrett, Director of BIG Projects.

“We wanted YSG Studio to capture the essence of Nobby’s, to design a building that embraces life, light and connection, while creating a genuine sense of place.”

There are only 39 apartments in The Frederick, including a striking beach house, just 100 metres from the booming Nobby Beach precinct.&nbsp;

[smartcode_project:default project_id=110588 project_image_fid=5347]

Yasmine Ghoniem, Director of YSG Studio, says their vision&nbsp;for The Frederick "reinvents coastal living."

“Nobby’s has such an iconic energy, it’s one of those rare pockets of the Gold Coast where the community, the beach, and the streets all feel connected,” Ghoniem says.

"Responding to the neighbouring coastline, soothing curves add a relaxing regional overlay, while unique detailing really sets it apart. It’s a place that feels lived in from the moment you step inside.”

A standout feature of The Frederick is its rooftop terrace, an uncommon inclusion for a boutique, low-rise building, where amenity is typically concentrated at ground level.

[smartcode_project:default project_id=110588 project_image_fid=5360]

Positioned to capture panoramic views from the hinterland to the ocean, the rooftop has been designed as a series of intimate zones. It includes a pool, sauna, sun decks, workspaces and dedicated entertaining areas.

“The rooftop was conceived as a collection of spaces where residents can unwind and connect, an extension of the Nobby’s lifestyle,” Barrett says.

Architecture for the project was led by Plus Studio, with landscape design by LDG Landscape Architecture.

SRQ Projects Director Nick Clydsdale, who is handling sales at The Frederick, says the majority of enquiry is coming from South East QLD and Victorian buyers who have been actively searching between Broadbeach and Mermaid Beach for some time.

"They’ve reviewed a number of projects, however this one has stood out for its unique detailing and compelling design,"&nbsp;Clydsdale says.

Site demolition is slated for this month, with construction commencing soon after. BIG Projects is targeting a late 2027 completion.

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Sydney’s YSG Studio makes Gold Coast multi-residential debut with BIG Projects at The Frederick

Melbourne-based property developer ALTA Property has this week achieved planning approval for the adaptive re-use of a former commercial tower into a $200 million, 169-apartment project at 10 Queens Road, one of the last developable sites along the Albert Park Lake-fronting boulevard.&nbsp;

Set within one of Melbourne’s most sought-after precincts and designed by <a href="https://www.apartments.com.au/architects/fraser-partners-0">Fraser and Partners</a>, the illustrious building will offer unparalleled views across Albert Park Lake, Port Phillip Bay and Melbourne CBD.&nbsp;

The mix of 1, 2 and 3-bedroom residences will be complemented by a ground-floor amenity featuring private dining, a lounge bar, gym and wellness spaces, co-working, outdoor communal gardens, and retail.&nbsp;

The 17-storey building is a masterclass in adaptive re-use, with the existing commercial building’s façade, shell and internal structure to be retained, before high-end residences are built from the ground up in a newly built Albert Park facing addition to the building.&nbsp;

Sitting atop the building will be two 320+sqm penthouses with private rooftop terraces, which are expected to be priced between $9 - $11 million.&nbsp;

<img alt="ALTA Property achieves permit approval for $200 million Queens Road tower" data-entity-type="file" data-entity-uuid="aa11211b-5581-43f9-940c-fc84d30a0e61" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/C_04.png?VersionId=Yhf5p_1EgGDu_zOIMFgvA8Ug8j3sTFQs" />

Architecturally, the building will feature a curved, geometric façade that celebrates and elevates the existing structure, with warm, muted tones which were selected to extend the materiality of the existing building rather than contrast it.&nbsp;

Interiors will bring together three metre high ceilings with waffle concrete in some spaces, natural timber, granite and Australian materials, culminating in crafted, generous and considered spaces that are defined by authenticity.&nbsp;

The adaptive re-use means that the Queens Road project will be a sustainability led, high-quality finished product, with a 62% saving in carbon emissions by re-using the existing structure rather than knocking it down and rebuilding.&nbsp;

ALTA Property was launched by Nigel Givoni in 2023, bringing over 25 years of experience in multi level residential delivery.&nbsp;

Melbourne’s property market growth is currently led by apartments. According to RPM VIC Apartments &amp; Townhomes Market Report (April 2026), units are outpacing houses, especially in the middle ring suburbs where median prices hit $757,500 – a four-year high that represents 2.9 percent growth quarter-on-quarter.&nbsp;

<img alt="ALTA Property achieves permit approval for $200 million Queens Road tower" data-entity-type="file" data-entity-uuid="647e13d7-b4bc-433a-9bc9-fe3c3dd4f2ec" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/V_06.png?VersionId=ou4NUCWUgA3NAy.6CQJlEdKX50j3dOk6" />

For ALTA Property Founder Nigel Givoni, this performance speaks to the confidence he has in the Melbourne market.&nbsp;

“Queens Road represents a rare opportunity to continue to shape our presence in the Melbourne market.,"&nbsp;Givoni says.

"With a considered project team and a premier site along one of the city’s most sought-after boulevards, we look forward to contributing to the fabric of this established address.

“Other Australian markets are getting a lot of attention, but I believe the depth of value in Melbourne is being overlooked. The fundamentals are strong, population growth is steady and, based on our preliminary conversations with a leading builder, construction costs are beginning to normalise, creating further opportunity."

Givoni says the project is a&nbsp;highly considered example of adaptive re-use, delivering quality, high-end residences, premium hotel-inspired amenities and an architecturally striking façade, all achieved without the need to remove the existing structure.

"We are really looking forward to the market’s response,” he said.&nbsp;

ALTA Property to deliver $200 million Queens Road 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

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Melbourne based property investor Jeff Xu has sold his Victoria One portfolio of five CBD strata retail properties for $13.615 million to a Melbourne based investor.
The 452 Elizabeth Street portfolio sold on a 5.5 per cent yield and at what is thought to be a record building rate of $27,230 a square metre for similar properties.
CBRE Manager, Melbourne City Sales, Nathan Mufale, who brokered the deal with National Director Investments, Mark Wizel, Leon Ma, and Ben McMahon, said the result was unprecedented for strata retail in the Melbourne CBD.
Mr Mufale said that the properties being in a booming education precinct with a strong Asian international student catchment was a key consideration behind the high level of interest the portfolio had attracted.
Confidence in this precinct is clear as this is the third strata retail transaction on Elizabeth Street within the last six weeks.  
The 452 Elizabeth Street portfolio comprises five strata retail spaces covering 500 square metres across ground, first floor and mezzanine spaces.
The portfolio has 50 metres of Elizabeth and Franklin street frontage and is located at the bottom of Golden Age’s 643 apartment tower. 
The properties are leased to established international tenants returning more than $750,000 per annum.
Mr Wizel said significant appreciation in land taxes for freehold assets was another important consideration for investors and that it was "another factor driving the increasing demand for strata retail assets in the CBD."
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Jeff Xu sells Victoria One portfolio for $13.6 million

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Global charity organisations have traded a Caulfield South corner site, which will become the new headquarters of the Royal Antediluvian Order of Buffaloes (RAOB).
Following the RAOB's recent sale of their Melbourne CBD premises.
Fitzroys agents Chris Kombi and Mark Talbot negotiated the $1.6 million sale of the vacant former bank building at 790 Glen Huntly Road on behalf of The Daughters of Charity of St Vincent de Paul.
Kombi said interest came mainly from investors, owner occupiers and value adders for the Commercial 1-zoned site of 347sqm.
Situated on the corner of Hawthorn Road the property has a combined frontage of more than 40 metres.
“The Buffs”, as they are referred to by members, had been headquartered at the century-old 22 Sutherland Street building in the city since 1954.
The RAOB was established in the United Kingdom in 1822.
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The Australian order was established early in the 20th Century and the Club has donated money to charities including Make A Wish Foundation, National Breast Cancer Foundation, the Heart Foundation and Aussie Helpers.
Kombi said that the property suited the Club’s desire to relocate to the inner south-east suburbans, while its accessibility was also a drawcard.
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Buffaloes charge to landmark Caulfield site for new HQ

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The office market across New South Wales, including Sydney, is performing strongly, according to valuation firm Herron Todd White (HTW).
HTW have all eight New South Wales areas that they value at either approaching the top of the market or at the market peak.
Coffs Harbour, Dubbo, Lismore, Tamworth and South East NSW are all at the peak of the market, along with Melbourne who has been at its peak for the last 12 months.
Click <a href="https://www.propertyobserver.com.au/images/2018/11/19/HTW-Clock.jpg" target="_blank">here</a> to enlarge.
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The last time HTW analysed the national office markets in August, Sydney's office market was rising.
Gold Coast had previously been at the peak of market, however their office market is now starting to decline having spent the last 12 months at the peak.
There is little change from October last year at the bottom of the market.
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Office market across NSW performing strongly while Melbourne remains at peak: HTW

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Shopping Centre Managers have been reporting refurbishments are the key to retail success in a competitive market, according to the latest JLL Retail Survey.
The survey shows food operators continue to drive tenant enquiry as well as centre managers continued optimism about factors within their control – refurbishments and tenant remix. However more negative about external factors like fuel prices
JLL’s 19th Retail Centre Managers’ Survey was undertaken in August across 88 JLL-managed retail shopping centres nationally. The majority of centres were neighbourhood and sub-regional centres.
JLL’s Head of Property &amp; Asset Management – Australia, Richard Fennell said, “The Survey showed that 42% of JLL Centre Managers made a positive comment about the recent performance of their centres in relation to an improvement in sales trends, tenant sentiment, foot traffic and/or leasing enquiry."
“JLL Centre Managers continued to view ‘expected changes to tenancy profile’ as having the most positive impact on the MAT outlook or their centres. More than half of survey respondents (61%) stated that it would drive sales growth over the next 12 months, up from 55% in the previous survey in February this year,” noted Mr Fennell.
<img src="https://www.urban.com.au/images/2018/10/31/JLL%20Retail%20Graph%201.JPG" alt="">
When asked what factors were impacting turnover performance, the survey found the strongest positive factors were ‘expected changes in tenancy profile’ (with a net balance of 54%), ‘growth expectations within trade area’ (30%) and ‘planned refurbishment activity’ at 17%
The top three negative factors impacting on turnover have remained consistent with previous surveys. Fuel prices (with a net balance of -26%), competition from other centres (-25%) and online retailing (-20%) remain the top concerns as they have over the past year.
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Refurbishment of shopping centres is leading to trading success: JLL

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Melbourne's likely last significant CBD offering of 2018 is a one of Queen Street’s trophy buildings.
Colliers International’s Oliver Hay, Daniel Wolman and David Sia have been appointed to manage the on-site auction campaign for 438 Queen Street.
Set on 1,440 sqm the property is expected to sell for more than $7 million.
The property is being sold by David Tweed, a controversial stocks predator who gained notoriety more than a decade ago through his practice of making unsolicited off-market offers to unsophisticated investors to acquire their securities at prices well below market value.
“With so few freestanding assets hitting the Melbourne CBD market, we’re expecting developers, investors and owner-occupiers to all be after a piece of the city’s history,” Mr Hay said. 
The corner property located in the heart of Melbourne’s Queen Victoria Market Precinct and Elizabeth Street 24-hour Precinct has triple street frontage spanning 69 m and is zoned for Capital City 1.
“These characteristics present scope for the building to be used as a powerhouse office headquarters, hospitality or student accommodation/hotel,” Mr Hay said. 
The property is for sale by auction on 13 December.
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Melbourne's last 2018 CBD offering of 2018 is a historic Queen Street building

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One of the Haymarket precinct’s last freestanding buildings is coming to market in North Melbourne.
Located at 87-89 Flemington Road, North Melbourne the two-level building sits on 510 sqm of land and is squeezed between 4 12-storey apartment buildings.
The building, opposite the University of Melbourne and the Royal Melbourne Hospital is being offered for sale with an approved permit for a 12-level residential development. 
Colliers International’s David Sia, Oliver Hay, Hamish Burgess and Dave Walker have been appointed to handle the transaction.   
The vendor of the property, Topsun Development, originally purchased the property as a premium residential development opportunity.
Situated metres from the upcoming $11 billion Metro Rail Project and the subsequent Parkville Train Station the property is set to benefit. 
Expressions of interest for 87-89 Flemington Road, North Melbourne close December 5.
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Topsun seek to offload one of Haymarket precinct’s last freestanding buildings 

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A local investor has acquired the home of bar and eatery Madras Bros. on Smith Street in Fitzroy.
Fitzroys agents Terence Yeh, Lewis Waddell and Chris Kombi sold 129 Smith Street under the hammer for $2,010,000 at a 3.5% yield on behalf of a private investor.
The retail property was offered for the first time in 35 years.
Set on a 207 sqm site the two-storey building is leased to Madras Bros on a 5 x 3 year deal over the ground floor restaurant and first floor apartment.
“The high levels of enquiry during the campaign and competition between multiple bidders at auction demonstrated the ongoing demand to invest in one of Melbourne’s most tightly held retail strips, within walking distance from the CBD,” Yeh said.
It follows Fitzroys’ sale earlier this year of 86 Smith Street, home of hospitality identity Shane Delia’s Biggie Smalls eatery for $3.58 million, at a similar  yield of 3.51%.
Chris Kombi said, “the local population continues to surge with the completion of a number of medium and high density developments nearby and others in various stages of planning and construction."
The property is within a short distance of public transport links and arterial roadways. 
 
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Fitzroy's bar and eatery sold for the first time in 35 years

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Two older manufacturing facilities positioned in the Campsie Industrial precinct have sold at auction for $4.025 million.
Knight Frank held the listing for 16-18 Harp Street, Campsie located 12.9 km from the Sydney CBD. 
Set on 2,755 sqm of IN2 zoned land, positioned in the tightly held Campsie Industrial precinct and 
The listing said that this asset is well suited for a "wide variety of occupiers or investors seeking a significant value-ad opportunity."
Both warehouses are functional with clearances up to 9.5m.
Warehouse A is 441.9 sqm and Warehouse B 898.35 sqm plus an additional mezzanine.
Both warehouses are currently tenanted on monthly holdover.
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Two Campsie manufacturing facilities sold for over $4 million

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A Bondi retail asset located in one of the suburbs strongest retail position, Hall Street, was passed in at $7.5 million.
It came with price expectations of more than $10 million when it was first scheduled for auction on August 30.
The mixed use holding, 62 Hall Street, Bondi Beach is located opposite Toga’s Boheme development, and adjacent to popular Hall Street retailers including Da Orazio Pizza and Porchetta, Gelato Messina plus the Adina Hotel and Harris Farm.
Set on a 223 sqm block the property features the property contains a ground floor pharmacy and six apartments.
The net income of the property is $322,978 per annum.
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Bondi Beach retail asset passed in at auction

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Art Series Hotels is set to open its first new property since it joined the AccorHotels family.
The $60 million project at Howard Smith Wharves, Brisbane will open in March 2019 and will be the brand's eighth in total.
The 166 room, six storey hotel will be situated close to the Story Bridge.
The brand draws its design inspiration from contemporary Australian artists and includes custom contemporary furnishings and original artworks.
Launched in 2009, it was privately owned by the Deague family until it was acquired by Mantra last year.
AccorHotels Pacific Chief Operating Officer Simon McGrath said the area’s transformation into an entertainment and lifestyle precinct will be important for the project.
“Art Series Hotels is celebrated for offering guests a unique art-inspired hotel experience like no other,” he said.
“The stunning new flagship hotel at Howard Smith Wharves is a strong sign of Accor’s belief in the much-loved brand and will kick start our plans for future growth across Australia and New Zealand.”
Deague Group CEO Will Deague said guests will be able to make reservations from November 30.
“As one of Australia’s fastest-growing capital cities with a burgeoning art culture, Brisbane continues to remain a major focus for the Group,” he said.
“With an increasing demand for accommodation, we are excited to introduce a second dedicated art led offering as part of the city’s expansion and are confident this luxury boutique development at Howard Street Wharves will only entice even more visitors to Brisbane.”
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