<a href="https://www.apartments.com.au/developments/broadbeach-qld-4218">Broadbeach</a> offers plenty of reasons to live vertically, but moving from a substantial family home into an apartment can expose the compromises of high-density living. Privacy, room for guests and usable living space tend to matter more when an apartment is intended as a permanent home rather than an occasional coastal base.

A typical residential floor at <a href="https://www.apartments.com.au/new-apartments/the-eveleigh-broadbeach-7-9-surf-parade-broadbeach-qld-4218">The Eveleigh</a>, on Surf Parade,&nbsp;contains just four apartments. The 94-residence development by <a href="https://www.apartments.com.au/developers/hirsch-faigen">Hirsch &amp; Faigen</a> is predominantly made up of expansive three-bedroom homes, with a limited collection of half-floor penthouses above.

Across the apartment floors, <a href="https://www.apartments.com.au/architects/rothelowman">Rothelowman</a> has used the relatively limited number of residences to give each home greater access to natural light and outlook. Living spaces extend towards full-height glazing, while a series of bay windows frame selected views across the Pacific Ocean, city and hinterland rather than treating the building edge as a continuous wall of glass.

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[smartcode_project:default project_id=149670 project_image_fid=360965]

“The apartment floors deliver a collection of homes that embrace controlled outlook via a series of bay windows deliberately framing moments of view,” Rothelowman Director Kim Lowman said.

From outside, those projecting forms contribute to the tower’s faceted profile. Strong horizontal and vertical elements establish its proportions, while the changing position of the sun alters the light, shadow and reflection across the façade throughout the day.

The same attention moves inside the apartments, where the material palette combines warm timber, natural stone, metallic detailing and softer curved forms. Kitchens sit within the main living zone, with stone island benches, integrated joinery and European appliances, before the living areas extend towards the glazing and the outlook.

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[smartcode_project:default project_id=149670 project_image_fid=360981]

Three genuine bedrooms provide room to accommodate family and guests, while two secure car spaces and storage address some of the practical considerations that can become more noticeable when moving from a larger home. Feedback from the display suite has centred on the warmth and restraint of the interiors, with buyers commenting that the residences feel like homes rather than conventional coastal apartments.

A limited collection of half-floor penthouses occupies the upper levels, increasing the scale of the living spaces and adding private balconies and elevated finishes. From this position, the outlook extends between the ocean and hinterland.

Outside the private residences, The Eveleigh separates its shared spaces between the podium and rooftop. The podium is centred on wellness, with subtropical landscaping surrounding a swimming pool and pool terrace, yoga garden, private gymnasium, sauna and hot and cold plunge facilities. Landscaped retreats and pavilions provide additional places to sit away from the main recreation areas.

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[smartcode_project:default project_id=149670 project_image_fid=360966]

Higher in the building, a rooftop pavilion and private dining suite sit alongside resident lounge, barbecue and outdoor dining areas, opening towards panoramic views across the ocean, city and hinterland.

“Buyers are no longer just looking for an apartment, but a lifestyle where they can relax, reset, and enjoy a balanced way of living,” Hirsch &amp; Faigen Director of Sales Matt George said.

Interest to date has come from established owner-occupiers and interstate lifestyle purchasers, including buyers planning a future move to the Gold Coast. Many are coming from larger homes and want to reduce ongoing maintenance without giving up space for family and guests, privacy, two car spaces or the ability to entertain at home.

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[smartcode_project:default project_id=149670 project_image_fid=360969]

Much of that daily life can also take place beyond the building without requiring a drive. Kurrawa Beach and Pratten Park are an easy walk from Surf Parade, while Pacific Fair, Oracle Boulevard, The Oasis, restaurants, cafés, entertainment and public transport are also within walking distance.

The Eveleigh is Hirsch &amp; Faigen's fourth Gold Coast development since entering the market in 2021, following The Hemingway at Palm Beach, The Emerson at Kirra and Yves at Mermaid Beach. Each of the preceding projects sold out before completion.

“Broadbeach had been on our radar throughout our time operating on the Gold Coast,” the developer said. “Following our projects in Palm Beach, Kirra and Mermaid Beach, Broadbeach represented the natural next step for the business.”

The Surf Parade site brought together proximity to the beach, protected coastal outlooks and walkability to dining, shopping and recreation. Hirsch &amp; Faigen also identified the street as an emerging premium residential address, with enough separation from Broadbeach's busier destinations to retain a quieter environment at home.

The Eveleigh is now under construction by Maxcon, with completion forecast for mid-2028. Three-bedroom residences are currently available from $2.87 million.

[smartcode_project_cta:default project_id=149670]

Joel Robinson

The Eveleigh brings house-like apartments to Broadbeach

A long-stalled Campbelltown development site is back in play, with new plans for 139 apartments set to supersede a mixed-use scheme approved almost a decade ago but never built.

The new proposal for 28 Cordeaux Street would deliver 116 market and 23 affordable apartments in a part 14-storey building, bringing a substantial new project into a Campbelltown market where new apartment supply remains limited.

Plans have been filed over the 3,092 sqm corner site at Moore-Oxley Street, around 600 metres from Campbelltown Railway Station and the city-centre retail core.

The site already carries a mixed-use residential approval dating to 2016. Doroch Architects has now been engaged on a larger replacement scheme, which is progressing as a State Significant Development Application following a Housing Delivery Authority determination in August 2025.

The apartment mix comprises 39 one-bedroom, 72 two-bedroom and 28 three-bedroom residences. Two-bedroom apartments make up just over half of the project, while three-bedroom homes account for 20 per cent.

<img alt="First look: New 139-apartment plans revive long-stalled Campbelltown city centre site" data-entity-type="file" data-entity-uuid="136dd5b9-3791-4da6-9e31-76f533f5b4de" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Campbelltown%20da2.png?VersionId=LgOSy9nwf5u.MGswBBwaGGxuX8QpHSl_" />

Of the 139 apartments, 23 will be delivered as affordable housing under the in-fill affordable housing provisions of the Housing SEPP. The affordable component represents 15 per cent of the residential gross floor area and will be managed by a registered Community Housing Provider.

Doroch has sought to break the scale of the building into two distinct elements, with a masonry podium of around four storeys establishing the street edge before the residential tower steps back above.

The corner position has shaped that approach. Cordeaux Street faces toward the commercial and civic centre, while Moore-Oxley Street leads into the lower-scale residential neighbourhood to the south, and the design verification report describes the site as "bridging the commercial core to the north and established residential areas to the south."

The podium will be expressed predominantly in face brick, while the upper levels shift to brushed and grooved concrete cladding with darker metal detailing. Recessed sections, deep balcony edges and landscaping break down the upper form, with an approximately 11.8-metre setback to the northern boundary addressing the adjoining St Peters Anglican School.

<img alt="First look: New 139-apartment plans revive long-stalled Campbelltown city centre site" data-entity-type="file" data-entity-uuid="c8b3d2d3-c561-4bfc-a5d9-a68c0c10dac1" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Campbelltown%20da1.png?VersionId=AeAEyJU02Gk2k5noUj2StziCvdQ7fW4B" />

Campbelltown has been starved of new residential developments in the last decade.

The only other notable development set to come to market this year is ALAND's Queen Square, a mixed-use precinct on over two hectares that will comprise apartments above a vibrant ground-level retail and hospitality dining precinct.

First look: New 139-apartment plans revive long-stalled Campbelltown city centre site

First Look: Sherlock Construction pitches apartments for low-rise Deception Bay

Queensland builder-developer MAYD has revealed the first look at its major North Kirra beachfront development, lodging amended plans that reduce the number of apartments and increase the proportion of larger residences.

The project is planned across a substantial 4,742 sqm amalgamated site spanning seven lots at <a href="https://www.apartments.com.au/new-apartments/2-6-pacific-parade-bilinga-qld-4225">2-6 Pacific Parade</a> and 27-33 Golden Four Drive in Bilin​ga, directly opposite Nor​th Kirra Beach.

<a href="https://www.apartments.com.au/developers/mayd-group">MAYD</a> secured the site for $32.5 million in 2025, in what was one of the Gold Coast's largest property transactions of the year.

The development will be delivered across two stages, with the first stage carrying an estimated gross realisation value of around $360 million.

The latest amendments seek to reduce the overall apartment count and shift the project further toward the owner-occupier market, with larger residences designed for buyers wanting considerably more space than traditionally offered in a beachfront apartment.

The residential mix will include townhomes, oversized two-bedroom apartments, substantial three-bedroom residences and four-bedroom homes.

MAYD has appointed Cera Stribley to lead the architecture and interiors, with the Melbourne-based design practice drawing on the beachfront setting through a series of ocean-facing terraces and heavily landscaped balconies.

Strong horizontal forms and curved balconies will define the exterior, with subtropical landscaping integrated throughout the building to soften the built form and increase the connection between the residences and the beachfront.

The project will also include an extensive collection of resident wellness and lifestyle facilities, continuing the broader shift across the Gold Coast's luxury apartment market toward larger homes supported by resort-style amenity.

<img alt="MAYD" data-entity-type="file" data-entity-uuid="d1bcbb05-e659-4b47-8bd4-1e595315e2ad" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-27%20at%202.05.03%E2%80%AFPM.png?VersionId=jj0XEud1X1DuLt7_KyElhjMdZGOXmLHP" />

MAYD Founder Todd Mould said North Kirra was increasingly appealing to buyers attracted to the more established, lower-density character of the southern Gold Coast.

"North Kirra presents one of the most compelling luxury residential opportunities currently emerging in Australia, combining absolute beachfront with the character and authenticity that buyers are increasingly seeking, and the same sense of tight-knit community that defined Burleigh and Currumbin perhaps 10 or 15 years ago," Mould said.

"With Gold Coast Airport on its doorstep, it also offers a level of accessibility that broadens its appeal across almost every market demographic."

The project comes as the southern Gold Coast continues to attract an increasing share of high-end apartment development and buyer activity.

Kirra in particular has emerged as one of the region's more tightly held beachfront markets, with its relatively low-density character, established surf and hospitality scene and proximity to Gold Coast Airport differentiating it from the higher-density markets further north.

Mould said those characteristics had informed the approach MAYD and Cera Stribley had taken to the project.

"We've worked closely with Cera Stribley to create a vision that is deeply connected to its surroundings," he said.

"Inspired by the coastline itself, the architecture has been shaped around space, privacy and resort-style living, creating a collection of homes that reflects the next generation of luxury on the southern Gold Coast."

MOTIV Managing Director Carly Cottam, who has been appointed to market the project, said buyer attention had continued to move south along the Gold Coast.

"Purchasers who may once have defaulted to Broadbeach, Main Beach or Surfers Paradise are increasingly recognising the value of a genuine beachfront location that offers lower density, strong amenity and a more established sense of community," Cottam said.

"Kirra has a powerful combination of growing demand and genuine scarcity. Beachfront supply is inherently constrained, the area remains relatively low density, and buyers are increasingly placing a premium on locations that feel established, uncrowded and authentic rather than heavily developed."

Cottam said the proximity to Gold Coast Airport was also proving increasingly important for interstate and second-home buyers.

"Being minutes from Gold Coast Airport makes it particularly compelling for interstate buyers, frequent travellers and second-home purchasers who can access an authentic coastal lifestyle almost immediately after stepping off a flight."

The acquisition takes MAYD's active development portfolio to more than $500 million, with the North Kirra project representing one of its largest undertakings to date.

MAYD is targeting an early 2027 launch.

First look at MAYD's North Kirra mixed-use precinct

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Castle Hill, the longtime hub of the Hills District, has been one of the major beneficiaries of Sydney's Metro expansion, with improved connectivity helping drive continued population growth, development and buyer demand across the Hills District.

But despite that growth, the suburb has seen relatively few major new apartment projects brought to market over the past 18 months.

Hills District developer Reve Group is looking to fill that gap with <a href="https://www.apartments.com.au/new-apartments/nova-r-ve-castle-hill-2-garthowen-crescent-castle-hill-nsw-2154">Nova Rêve</a>, a major new mixed-use precinct on the corner of Garthowen Crescent and Old Castle Hill Road, a short walk from Castle Hill Metro Station and Castle Towers.

[smartcode_project:default project_id=152737 project_image_fid=377679]

The project will comprise three residential towers alongside a hotel, restaurants, cafes and a skybar, more than 1,600 sqm of ground-floor retail and almost an acre of landscaped gardens.

It represents the largest project undertaken by Reve Group, the development arm of the Kassis family, which has been building across the Hills District for more than 30 years through Kassis Homes.

[smartcode_project:default project_id=152737 project_image_fid=377675]

Nova Rêve also represents a significant step up from the family's first apartment development, Grand Rêve, which was delivered nearby on Garthowen Crescent.

Grand Rêve introduced larger, house-like apartment layouts and premium inclusions including Wolf and Sub-Zero appliances to the Castle Hill market.

Nova Rêve takes that approach to a precinct scale, combining the residential component with hospitality, retail and substantial public and resident landscaping.

[smartcode_project:default project_id=152737 project_image_fid=377685]

Reve Group Managing Director Sam Kassis said the project reflected the family's three decades of building in the Hills, which has evolved from trophy homes on quarter-acre blocks to larger-scale apartment development.

"Grand Rêve was our first apartment project here and it showed us what this pocket of Castle Hill could be. Nova Rêve is the refinement of that idea: not just apartments, but a place the whole suburb can use," Kassis said.

A key part of that approach is the hotel, which has been designed to operate as an amenity for the wider Castle Hill community rather than solely hotel guests.

It will include restaurants, cafes, skybars and all-day dining, alongside conference and event facilities catering to business functions, community groups and private events.

At ground level, more than 1,600 sqm of shops and cafes will open onto the surrounding streets and landscaped areas.

Almost an acre of gardens designed by Land and Form Studios will run through the precinct, incorporating pathways, seating, barbecue areas and children's play spaces.

[smartcode_project:default project_id=152737 project_image_fid=377680]

Reve Group's Romio Georges said creating an active ground plane had been central to the planning of Nova Rêve.

"There are gardens with pathways, barbecues, seating and play areas, shops and cafes opening onto the street, and a hotel with restaurants and a skybar that anyone in Castle Hill can walk into," Georges said.

The project's elevated position on one of Sydney's highest ridgelines will also provide apartments with outlooks toward the Sydney skyline, surrounding parkland and the Blue Mountains.

More than 80 per cent of the apartments will occupy corner positions, with Turner responsible for both the architecture and interiors.

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[smartcode_project_cta:default project_id=152737]

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Nova Rêve arrives as Reve Group bets on Castle Hill's next growth phase

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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<div>Moody's Investors Service says that debt-funded unit buybacks by four rated Australian real estate investment trusts (AREITs) will weaken the companies' credit metrics, but that their good operating performance will also partially allay such concerns.</div>
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<div>The buybacks, all things being equal, will weaken the AREITs' leverage -- expressed as net debt/EBITDA -- in the next 12-18 months, although the actual impact will depend on the amounts undertaken. Unit buybacks are an attractive capital management option for the rated A-REITs, which have low gearing, broadly defined as debt/assets, and their unit prices have traded below net tangible assets. Both reasons support the decision to buy back units rather than pursue acquisitions or redevelopments.</div>
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<div>Key points are as follows –</div>
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<div>» Four rated A-REITs have been buying back units. Scentre Group (A2 stable), Dexus (A3 stable), Mirvac Group (A3 stable) and Charter Hall Retail REIT (Baa1 negative) have initiated buybacks worth up to AUD1.6 billion in total. The unit buybacks are likely to be funded by debt because Australian REITs (A-REITs) pay out most of their earnings as distributions to unit holders. Debt-funded buybacks, all things being equal, will weaken</div>
<div>the A-REITs’ net debt/EBITDA financial leverage in the next 12-18 months. Unlike property purchases or investment in redevelopments, unit buybacks will not increase EBITDA. As a result, net debt/EBITDA will increase, depending on the amount of units repurchased.</div>
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<div>Click here to enlarge.</div>
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<div><img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2018/5/30/MOODYS1.jpg" alt=""></div>
<div> </div>
<div>» Unit buybacks are an attractive capital management option for A-REITs. Most rated A-REITs have low gearing, broadly defined as debt/assets, and their unit prices have traded below net tangible assets. Both reasons support the decision to buy back units rather than pursue acquisitions or redevelopments. Most rated A-REITs’ low gearing reflects a conservative approach to debt, and low cap rates that have increased portfolio</div>
<div>asset values. Also, in many instances, sales of properties have exceeded purchases in Australian dollar terms.</div>
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<div>» Dexus' and Mirvac's metrics will stay within rating thresholds if debt-funded unit buybacks are implemented in full. Purely as a sensitivity analysis, we have assumed the buyback plans had been implemented in full as at December 2017. In this extreme scenario, Dexus and Mirvac would be able to accommodate fully debt-funded unit buybacks within their existing rating thresholds. Charter Hall Retail would not be able to do so, while Scentre would be at the threshold.</div>
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<div>» A-REITs' good operating performance partially allays concerns around weaker credit metrics. We expect solid operating income growth will continue for the rated A-REITs. A-REITs will benefit from annual structured rent increases, which underpin our expectation for comparable net income growth of close to 3% for the sector over the next 12-18 months. High occupancy rates and contracted rental income will support both</div>
<div>the office and retail sectors, while the industrial sector will benefit from strong economic activity and limited space availability, especially in Sydney.</div>
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jrobinson-rf4aSBido9

REIT's face higher leverage on unit buybacks: Moody's

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A $28 million office block is proposed for 4-6 York Street, Sydney.
The proposal also includes additions and alterations to 341 George Street.
The 13 storey office building Candalepas Architects-designed proposal is an integrated development under the Heritage Act 1977 proposed by the Cheng family patriarch Tony Cheng, who runs NGI Investments.
The site of the former Bank of NSW Head Office, which cost $57 million in 2002, is historically significant as the location from 1853 to 1970 was the principal office of Australia's first and largest private bank.
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The building's official opening was held on Saturday 19 March 1932— the same day as the Sydney Harbour Bridge opened.
The building reflects the period of commercial optimism that preceded the Great Depression and with the prominent architectural firm of Robertson &amp; Marks who have worked on the building since its construction.
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341 George Street (below) is aesthetically significant as a substantially intact example of the Inter-War Commercial Palazzo style. It contains a richly detailed Banking Chamber, which is still in use as such (although reduced in scale), with original fittings, furniture and extensive finishes of marble, scagliola and pressed metal.
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The new building will be physically connected to the existing building at 341 George Street, and there will be access between most floors of the two buildings which will necessitate some alterations to the existing building.
The building at 341 George Street is of state heritage significance. The 4–6 York Street site is not heritage listed.
The allotment at 4–6 York Street and the building at 341 George Street are located on a city block bounded by George Street, Wynyard Street, York Street and Barrack Lane.
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Martin Place is directly opposite George Street to the east, and Wynyard Park is located to the north across Wynyard Street.
The site is significant for its landmark qualities and together with the adjoining former CBC Bank Head Office (343 George Street) it terminates the western vista of Martin Place and forms part of the significant precinct of historic public and private commercial buildings near the junction of Martin Place and George Streets. 
The site was originally part of the military barracks and was sold into private ownership in 1850. By 1882 it appears to have been developed into part of Sydney’s growing commercial district. 
The Bank of New South Wales, the oldest corporation of its kind in Australia, was founded in Sydney in 1817.
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The building remained the Head Office of the Bank of New South Wales until 1970, when the continued growth of the Bank has again made a larger head office building necessary.
After 117 years on the site the operation moved to a newly erected high-rise building, 60 Martin Place, on the corner of Macquarie Street.
In 2002, Westpac Banking Corp sold the site (341 George Street and 4–6 York Street) to NGI Investments.
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In October 2006, the Westpac Bank was temporarily closed to allow for the conservation and upgrading of its premises, which included the restoration of the original floor, walls, ceilings and screens on the ground and first floors. The bank reopened in April 2008.
Currently the Westpac Bank continues to occupy the basement, ground and mezzanine levels. 
The allotment at 4–6 York Street has remained largely vacant since the bank acquired the land in 1934.
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It was in 1850 when two allotments of the old barracks site were purchased at the corner of Wynyard and George Streets by Felix Wilson, Donald Larnarch and Robert Campbell at a cost of 1410 pounds.
They were buying on behalf of the Bank of New South Wales in preparation for the building of a new head office.
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The further continual growth of the bank’s business, which was a result of the goldrushes in Victoria and New South Wales, necessitated still further space.
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The architectural plans were prepared by Robertson and Marks. 
Early photographs show that the banking chamber had an attractive tiled floor and rich wood panelling. There were fluted columns with Corinthian capitals and a big clock in ornate wooden case on the southern wall. 
Business continued to expand and just before the First World War 341 George Street once again began to feel cramped.
According to Board minutes in 1913 the Board was considering the erection of a new high-rise building on the site to exploit its prominent position and to take advantage of the 150-feet construction height limit.
It was at this time that the Bank purchased three adjoining sites on Wynyard Street, but such matters as further extension were forgotten in the events of 1914–1918.
In the course of the war no fewer than 40 per cent of the Bank’s male staff was enlisted in the services.
In May 1925, the Board resolved that a new head office should be built. It was also decided that an Australian architect should be employed and that the building be of similar style of architecture to that of the Equitable Buildings in Sydney and Melbourne. 
The Commercial Banking Company of Sydney had then reached the final stages of the construction of its own Head Office, and the Bank of NSW Board resolved that the new building should be of the same height as its neighbour.
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In July 1925, the firm of Robertson &amp; Marks was again asked to supply plans.
In 1927 the Board resolved that the tender of Howie, Moffat &amp; Co. Ltd. for the erection of the premises for the sum of £551,379 be accepted.
The existing building at 341 George Street was erected in two stages to allow banking operations to continue. Demolition of the western section of the old premises commenced on 27 August 1927.
In 1934 the Bank purchased more land fronting Wynyard and York Streets (4–6 York Street). The building that had previously occupied the site had been demolished in the 1920s, but the Bank did not build on the area. Since then the allotment at 4–6 York Street has remained substantially undeveloped.
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The United States Consulate rented premises in the building from the 1930s to 1970. During World War II, U.S. General Douglas Macarthur used the Board Room for staff meetings. According to notes in the Westpac Archives it was also the scene of an occasional Court Martial.
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In 1949 the Bank entered a field which was previously under the monopoly of government owned institutions, savings bank operations which led to an expansion in the Bank’s operations and they began to fill more floors of the 341 George Street building.
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The earlier phase of occupation relating to the 1840s Military Barracks is likely to be significant.
It is known that the barracks were demolished and the salvageable building materials sold; however, there is still some potential for footings and occupation deposits to survive.
The archaeology of this site may have the potential to demonstrate information about the use of the barracks not otherwise documented.
Remains from this early period use of the site are therefore likely significant for both their historical values and their research values.
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It appears from the archival photography that the construction of the railway tunnels under the western part of the site involved drilling through the rock below the site and not excavation from above. Thus, there is potential for archaeological remains and deposits surviving on the western part of the study area. The proposed construction footprint on the new building will impact on potential Aboriginal and non- Aboriginal archaeology.
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GML Heritage was engaged by 6 York Street Pty Ltd to provide heritage and archaeological services in relation to the proposed construction of a new building on the mainly empty allotment at 4–6 York Street, Sydney.
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The report has been prepared by Anna Simanowsky, GML Senior Heritage Consultant. The archaeological assessment was prepared by Jodi Cameron, GML heritage consultant, archaeologist. 
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jchancellor-FAypfDUnLy

Former Westpac heritage-listed headquarters set for revitalised office complex on George Street

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Savills are marketing the Collins Street premises of Hugo's Expresso.
The popular cafe has been located at <a href="http://commercialpropertysearch.savills.com.au/c3b0756b-0a41-e811-80cd-005056813885/Sale/Melbourne/Shop-3,-601-Little-Collins-Street" target="_blank">shop 3 at 601 Little Collins Street</a> since 2009. 
Hugo's has a 10 year lease with two five year options to 2029.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2018/5/30/hugos2.jpg" alt="">
There's been a brand new fitout on the space which currently returns just over $62,000 per annum, with five percent annual increases.
Savills agents Benson Zhou, Nick Peden and Dorothy He are marketing the shop as a high profile ground level CBD retail property.
 
 
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Collins Street's Hugo's Expresso premises listed through Savills

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IT start-up Stacktrace has signed its first Australian office premises in the Mirvac developed 410 Ann Street office tower in Brisbane.
Savills agent Dan Boyes negotiated the deal.
Formed in 2017, Stacktrace is a software services and products company in the not-for-profit and healthcare sectors. 
The company has taken up space on level seven in the East Tower of 410 Ann Street and will move into a fully fitted suite designed and constructed by The Fitout Studio.  
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2018/5/30/ann3.jpg" alt="">
Campbell Hanan, Mirvac's head of office and industrial, said Stacktrace are one of a number of tech organisations.
“We’re pleased to welcome Stacktrace to 410 Ann Street, where they will join a number of technology and start up organisations.
"Mirvac is excited to support the growth of this business hub by providing an environment that fosters collaboration between tenants..
“Taking a collaborative approach to tenant partnerships and asset management is key to our continued success in the Brisbane market. 
"Working with our tenants, we create workplaces that evolve to meet the changing needs of employees and building occupants. 
"In line with this, we have introduced a range of wellness initiatives at 410 Ann Street, designed to boost employee satisfaction, engagement and wellbeing. This includes regular yoga and meditation classes throughout the week.” 
Mirvac has also partnered with Brisbane City Council to develop the Cathedral Square regeneration project, which includes a grassy parkland with built-in seating and an inviting space for tenants, creating a quintessentially Queensland working environment.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2018/5/30/Ann2.jpg" alt="">
Stacktrace’s founder, Chris Horwill said Mirvac’s strong reputation as a property manager attracted them to 410 Ann Street.
"The team has been extremely flexible and responsive in accommodating our short timelines and workplace requirements.
“The attention to detail in every aspect of the partnership has been outstanding and has allowed us to focus on building our business. This was important to us as a new company in a growth phase.” 
Located on the edge of Cathedral Square, 410 Ann Street has over 20,000 square metres of commercial office space and sits at the heart of one of Brisbane’s most exciting emerging urban precincts on the northern side of the Ann and Wharf Street intersection.
The building has a 5 Star NABERS energy rating. 
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Savills negotiate IT start-up Stacktrace lease in Brisbane's Ann Street tower 

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CBRE has sold the Woolworths Hadfield in Melbourne’s northern suburbs for $11.75 million.
It was the third time in two years the shopping centre has transacted. 
Located on a 5,600sqm site in Melbourne’s inner north, the freestanding Woolworths was first sold by CBRE in 2016 to St Albans-based plumber Emmanuel Zahra for $9.75 million. 
Then in 2017, it was sold for $8.75 million, however, the contract was forfeited. 
The property was purchased recently by a Melbourne investor for $11.75 million – reflecting a yield of 3.5% and profit of $2 million since it last transacted. 
The property, which has a one-year lease remaining to Woolworths, marks the fourth freestanding supermarket sale nationally this year, and the second in Victoria. 
The sale follows the trend of low returns on supermarket investments, with recent transactions including Coles Clayton in VIC for $17.115 million (2.57% yield) and Coles Earlwood in NSW for $28.72 million (4.22% yield). The assets were purchased by a Melbourne and Asian investor respectively. 
Recent supermarket transactions undertaken by CBRE
<table style="width: 468px;" border="0" cellspacing="0" cellpadding="0"><tbody>
<tr>
<td nowrap width="83">
MAJOR TENANT
</td>
<td nowrap width="61">
CITY
</td>
<td nowrap width="42">
STATE
</td>
<td nowrap width="44">
DATE
</td>
<td nowrap width="68">
PRICE
</td>
<td width="71">
INTIAL YIELD
</td>
<td width="42">
GLA  (SQM)
</td>
<td width="57">
$ / SQM
</td>
</tr>
<tr>
<td nowrap width="83">
Coles
</td>
<td nowrap width="61">
Clayton
</td>
<td nowrap width="42">
VIC
</td>
<td width="44">
Mar-18
</td>
<td nowrap width="68">
$17,100,000
</td>
<td nowrap width="71">
2.58%
</td>
<td width="42">
2,852
</td>
<td nowrap width="57">
$5,995
</td>
</tr>
<tr>
<td nowrap width="83">
Woolworths
</td>
<td nowrap width="61">
Smithton
</td>
<td nowrap width="42">
TAS
</td>
<td width="44">
Mar-18
</td>
<td nowrap width="68">
$7,500,000
</td>
<td nowrap width="71">
6.83%
</td>
<td width="42">
2,200
</td>
<td nowrap width="57">
$3,409
</td>
</tr>
<tr>
<td nowrap width="83">
Coles
</td>
<td nowrap width="61">
Earlwood
</td>
<td nowrap width="42">
NSW
</td>
<td width="44">
May-18
</td>
<td nowrap width="68">
$28,720,000
</td>
<td nowrap width="71">
4.22%
</td>
<td width="42">
2,675
</td>
<td nowrap width="57">
$10,736
</td>
</tr>
<tr>
<td nowrap width="83">
Woolworths
</td>
<td nowrap width="61">
Hadfield
</td>
<td nowrap width="42">
VIC
</td>
<td width="44">
May-18
</td>
<td nowrap width="68">
$11,750,000
</td>
<td nowrap width="71">
3.57%
</td>
<td width="42">
2,101
</td>
<td nowrap width="57">
$5,593
</td>
</tr>
<tr>
<td nowrap width="83">
Total
</td>
<td nowrap width="61">
 
</td>
<td nowrap width="42">
 
</td>
<td width="44">
 
</td>
<td nowrap width="68">
$65,070,000
</td>
<td nowrap width="71">
4.30%
</td>
<td width="42">
 
</td>
<td nowrap width="57">
$6,433
</td>
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j.ballantyne1990-6AQqhLzZaK

Woolworths Hadfield sold for third time in two years

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Monochrome Coffee have secured a Toorak Road, South Yarra retail space, near the corner of Chapel Street opposite the 50-storey Capitol Grand tower.
Fitzroys Agency Executive James Spencer negotiated the five-year lease with a five-year option for <a href="https://www.realcommercial.com.au/property-retail-vic-south+yarra-502780482" target="_blank">Shop 4, 286 Toorak Road</a> at $705 per sqm.
“This is one of the strongest results we’ve seen in that pocket of Toorak Road for some time,” he said.
“Toorak Road has evolved to become increasingly attractive for quality food and beverage operators, which was reflected in the high volume of enquiry we received from other hospitality businesses and the secure lease terms achieved.
“Recent residential and commercial developments within the Forrest Hill precinct has had a great positive effect for retailers along Toorak Road.”
He said the $450 million redevelopment of the Jam Factory precinct, the 50-storey Capitol Grand tower and introduction of the Aloft hotel nearby would create a further buzz in the area, and businesses on Toorak Road and Chapel Street would see a positive flow-on effect.
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Monochrome Coffee and Tea leases prime Toorak Road space

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Four commercial premises in Redfern's popular dining hub The Alchemy have been listed for sale.
The <a href="https://www.realcommercial.com.au/property-retail-nsw-redfern-502818198" target="_blank">properties on the corner of Pitt and Redfern Streets</a> are currently home to restaurants Bart Jr, Fern St, Isaacs and the recently opened Juan.
Isaacs restaurant takes up two shop spaces.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2018/5/31/alchemy.jpg" alt="">
The net income range from $54,000 per annum to $143,000. Each premises has new five to eight year leases.
The properties in the recently completed development are being offered for sale individually or all together.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2018/5/31/redfern2.jpg" alt="">
The ground floor offerings sit beneath apartments. 
Ray White Commercial agents Scott Stephens, Justin Rose, Samuel Hadgelias and Jeff Moxham are marketing the property for a June 13 auction.
Each space was bought in 2016 and 2017, with the purchase prices totalling just over $3.5 million.
 
 
 
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Redfern's popular dining hub The Alchemy listed

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Generalised reporting of major markets is the curse of investors trying to find out what’s really happening. The growth figures published in mainstream media, with a single figure to describe an entire city, mislead more than they inform.
It’s one reason why few people I speak to can be convinced that it’s worth considering Adelaide, which I regard as Australia’s most under-rated market.
The generalised figures suggest little price growth - but, as is often the case, individual locations are doing better. 
Figures from realestate.com.au show that some Adelaide suburbs are selling homes quickly - and other data shows that many of these locations are recording above-average price growth.
According to realestate.com.au data for the six months to April 30, Gilberton has Adelaide’s fastest-selling houses. Houses in the north-eastern fringe suburb have a median time on market of 13 days – up there with the best in the nation.
Gilberton’s median house price has grown 19 percent in the past year to reach $1,090,000.
Houses in Hyde Park (median price $1,370,000, up 5 percent in 12 months) and Sefton Park (640,000, up 21 percent) have a median time on market of 17 days.
Clarence Gardens ($630,000, up 7 percent) and Melrose Park ($552,000, up 8 percent) houses sell in 18 days.
Realestate.com.au chief economist Nerida Conisbee said Adelaide’s market is performing strongly and sale times will likely go down as stock levels typically drop over winter.
“On average we typically see homes selling in around 40 days so you are looking at a pretty speedy market,” Conisbee says.
This confirms our view that the Adelaide market is stronger than the generalised price data indicates.
And I think it will get stronger, as the state economy delivers on the considerable promise it is increasingly showing. 
The unemployment rate for South Australia has risen slightly in the latest official data, but it remains healthy at 5.9 percent, compared to 6.5 percent in Queensland and Western Australia, and 6 percent in Tasmania. Only NSW (5 percent) and Victoria (5.3 percent) have better jobless rates than SA. 
The state economy is showing great resilience, despite some negatives such as the Holden factory closure, and this is under-pinning real estate markets.
Adelaide is the innovation capital of Australia and increasingly major businesses are relocating to the SA capital for that reason. SA leads on the nation on alternative energy and projects under way or in planning total many billions of dollars. 
And the big enterprises to create vessels for the Navy are also in the pipeline.
Canberra is another capital city that flies under the radar screens of most investors, despite everything it offers.
The ACT has the nation’s fastest-growing economy, according to Deloitte Access Economics’ business outlook, which says the ACT went to the “top of the leaderboard” in 2017, with gross state product rising 4.6 percent.
Deloitte partner Chris Richardson says low interest rates have given the ACT’s “massive mortgage belt” some breathing space. “There’s two big levers at play in Canberra: the size of the public service and interest rates,” he says.
After weathering government cutbacks in recent years, the public sector is now “in the sweet spot”.
The State of the States report from CommSec has the ACT in third place overall in a study of the states and territories on eight economic indicators. 
The ACT trailed NSW and Victoria overall but ranks first on housing finance (up 28% on the long-term average), second on unemployment and second for annual population growth, up 1.8%. The ACT’s home building starts were up 16.5% on decade averages, placing it third. It’s a strong report card and is a key factor in the steady rise in prices and rents. 
The latest figures from SQM Research confirm the very low vacancy rates in Canberra.  The firm’s mid-May report recorded a vacancy rate of 0.8%, compared with Sydney (2.3%), Brisbane (3%) and Perth (4.1%). 
Only Hobart (0.7%) has a lower vacancy rate, according to these figures.
Not surprisingly, rents are rising. In annual terms, the weekly asking rent index is up 7.6% for houses and 4.1% for units.
The Domain Group has also published figures showing strong annual rises in Canberra rents, with houses overall up 6% and units up about 5%. 
Domain chief data scientist Dr Nicola Powell says: “This data echoes what we have been seeing in the Canberra market and that is rents are rising across the board.
“House rents have been growing since mid-2015 and unit rents have been growing since the end of 2015.”
Some forecasters have tipped Canberra to lead the capital cities on price growth in the next three years. I’m not sure it will be No.1 but I expect it to be a contender.
For my third under-rated market, I could nominate pretty much any of our major regional cities.
Organisations whose goal is promoting themselves rather than informing the public like to publish average growth rates to compare capital cities with the regions. The regions will always lose in this comparison because the regions include struggling mining towns and other areas suffering from negative events such as drought.
It would be more valid to compare the capital cities with the largest regional centres like Newcastle, the Gold Coast and Geelong - and this comparison would produce a very different result.
Many suburbs in both Newcastle and Geelong have recorded median price growth above 20 percent in the past 12 months. Several other regional markets, including those close to Melbourne and to Sydney, have had serious growth in the past couple of years.
But under the general heading of under-rated I’d go for Ballarat. Whenever I speak about cities like this, I get that kneejerk reaction about regional centres never delivering growth.
But consider what a city like Ballarat offers. Virtually every suburb has a median house price below $450,000, including several with medians in the $200,000s. It’s not too hard to find rental yields above 5 percent. And there’s been serious price growth recently.
The suburbs of Soldiers Hill, Buninyong and Black Hill are up more than 20 percent I the past 12 months. Others have grown 10-12 percent.
The city is underpinned by a strong, diverse local economy, a growing population and good transport links to Melbourne. 
It’s feasible to buy a good home there at a fraction of Melbourne’s prices and commute to work somewhere in the state capital (keeping in mind also that some of Melbourne’s biggest jobs nodes are on the northern fringe of the metro area, closest to cities like Ballarat and other attractive Hill Change towns in Victoria).
But there are plenty of jobs within Ballarat itself, which is attracting growing numbers of buyers from Melbourne, seeking more attractive prices and a different lifestyle.
Terry Ryder is the founder of hotspotting.com.au
<a href="https://mailto:ryder@hotspotting.com.au">ryder@hotspotting.com.au</a>
twitter.com/hotspotting
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terryryder-YECXbqmri2

Australia's three most underrated growth markets

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A prime retail investment in the heart of South Yarra will be auctioned May 31.
Located at 63 Toorak Road, a short distance from Punt Road, the property comprises a 51 square metre single level retail building.
It is currently let to a body clinic, which has partitioned three treatment rooms and rear wet areas.
It is zoned Activity Centre 1, which aims to encourage a mixture of uses.
Teska Carson’s Richard Munday and Michael Taylor said the property will be sold subject to a short-term lease with current income of $43,263 per annum plus GST. 
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Retail listing on Toorak Road, South Yarra

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Surfers Paradise’s Chevron Renaissance Shopping Centre has secured the Commonwealth Bank among its new tenants.
The financial institution is set to open a branch within the retail, dining and entertainment precinct in July.
Coles, National Bank of Australia, Chempro and Endota Spa are in the centre where The Precision Group has spent in excess of $5 million dollars since their purchase in 2015.
Other new tenants taking up prime positions within the precinct includes Surfers Paradise’s only Asian grocer Yifan Asian Emporium, internationally renowned Malaysian restaurant PappaRich and eyebrow threading boutique Elegant Eyebrows.
The centre also recently facilitated the installation of Auscoin's first Bitcoin ATM in Queensland.
Among the future tenants is an innovative Childcare Centre that will be the first service of its kind in the heart of Surfers Paradise.
 <img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2018/5/23/Chevron%20Renaissance%20Shopping%20Centre%201.jpg" alt="">
Set to open early 2019, Journey Early Learning Childcare Centre will have capacity for 88 children on the second level of the Centre. 
The centre has frontage to the G:Link tramline. 
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