<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.

&nbsp;

[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.

&nbsp;

[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.

&nbsp;

[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.

&nbsp;

[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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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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A well-known cafe in Sydney’s leafy suburb of Northbridge is up for auction. 
The cafe at <a href="https://www.realcommercial.com.au/property-retail-nsw-northbridge-502624078" target="_blank">1/160-162 Sailors Bay Road</a> has been in place since the building was completed in 2013.
It will go to auction on November 30 with expectations of $675,000 to $725,000 excluding GST.
The shop earns a net income of $46,255.56 + GST.
The tenant is on a three-year lease with two five-year options. 
It has a strata area of 25 sqm. 
The building has been converted into a boutique development of just 12 apartments.
It is being marketed by Tom Doran of Doran Commercial.
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Cafe space in Sydney's Northbridge set to go under the hammer

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A growing appetite for Canberra’s office market has prompted the Willemsen Group to list Belconnen’s Northpoint Plaza for sale.
The family group has owned the office investment property since it was developed in 1987.
The listing comes as investors are turning their sights to Canberra’s secondary office market, with a series of transactions completed or in the offing in the lead up to 2018.
The trend is being driven by the anticipation of strong rental growth and a pickup in tenant demand in the short to medium term. 
Canberra Times added that the building's agent suggested a buyer could use the block for apartments or a hotel, leaving the future for its tenants unclear. 
Centrelink leases about 16 per cent of the building, which also houses Quest Training, Sonic Healthcare, Marist Youth Care, medical and other offices. 
CBRE Research highlights that secondary grade net effective rents recorded a 6% annual increase in the period to Q3 2017. Meanwhile, white collar employment grew 3.1% over the year to March 2017, with the business services sector adding 5,300 employees during that time-frame.
The Belconnen listing is being handled by CBRE’s Michael Heather.
“Northpoint Plaza presents a compelling value-add opportunity that will be acquired at below replacement cost, yet is 75% occupied and provides substantial passing income,” Heather said, adding that there was also the opportunity to increase the returns through a refurbishment and releasing strategy.
“Given its strategic location in the Belconnen Town Centre opposite Westfield Belconnen, the site would also suit future residential redevelopment or conversion to hotel or serviced apartments to capitalise on its park frontage and upper level lake views.”
Recent transactions of value-add office assets include 39 Brisbane Avenue, Barton, which was purchased by boutique fund manager Quintessential Equity for $16.5 million. Another Barton property at 42 Macquarie Street is currently in due diligence with a Sydney-based investment group.
Heather noted that Belconnen was also on investors’ radars as one of the better performing secondary office markets in the ACT.
Belconnen’s secondary vacancy rate is currently 5%, comparing favourably to Tuggeranong (23%), Woden (21%) and Civic (15%).
 
 
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Office investment property in Canberra’s Belconnen listed

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The NSW government has sold its former Motor Registry site in the tightly held Inner West suburb of Five Dock to a private investor for $10.5 million.
The 1 Ramsay Road site comprises a corner parcel of land with an area of 1,970 sqm.
Parts of the site remain undeveloped but the 372 sqm of net lettable area from the existing two-storey brick building could be developed for additional floor space, subject to council approval.
The government divested the former motor registry as it was deemed surplus with the roll out of the new Service NSW centres.
The sale was handled by Neil Cooke, Stuart Cox and Johnathon Broome of Savills Australia.
The site has an 8.5 metre height limit and allows for a prestigious development.
It is currently leased to WestConnex for use as office accommodation and parking for a three-year term expiring 31 December 2019 at a rental of $150,000 per annum net plus GST.
“This land offers excellent development upside (STCA) within close proximity to the Sydney CBD, local retail and transport amenities which gives reason as to why we were inundated with unprecedented levels of enquiry,” said Cooke.
The sale price of $5,328 per square metre of potential GFA reflected the prime corner location and development uplift, added Cox.
 
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NSW government divests former motor registry site in Sydney’s inner west

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The iconic Wentworth Memorial Church in Vaucluse, one of Sydney's most historic landmarks, has returned to the market.
It has been listed for December auction.
It sold mid-year at $5.6 million to funeral operator David Walker's Brookava Pty Ltd. <a id="propertySearchOwnerNameLink" href="https://rpp.rpdata.com/rpp/search/company/property/summary?&amp;view=property&amp;qt=company&amp;newSearch=true&amp;q=BROOKAVA%20PTY%20LTD" target="_blank"> </a>
The church, built in the 1960s as a memorial to the fallen soliders of the Second World War, sits on a near 2,000 sqm parcel that dates back to 1827.
It was part of the estate of noted colonial explorer, poet, journalist and politician William Wentworth and his family who developed the estate.
Worship ended at the church in 2006.
The heritage listed church on Fitzwilliam Road features loft interiors with ceiling height up to 40 feet at its peak.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/05/31/Church3.jpg" alt="">
The Wentworth Memorial Church is widely considered to be the finest surviving work in the Sydney School style of the important mid to late Twentieth Century architect Donald Gazzard.
Gazzard was the inaugural winner of the Wilkinson Prize for domestic architecture in 1961 for his Hunters Hill home and was regarded as a prominent figure in the field of architecture.
Gazzard, who worked on the Martin Place Pedestrian Precinct and Sydney University eletrical engineering building, now lives in Melbourne.
He had worked with Harry Seidler as a draftsman in the early 1950s. Well-known architect Richard Leplastrier helped Gazzard build the church.
The rocky outcrop where the church is now located was a favourite spot for Wentworth to view his estate and was also where he chose to be buried as evidenced by the Wentworth mausoleum on the opposite side of this outcrop.
<div class="stackItem"><img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/05/31/Church2.jpg" alt=""></div>
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The property currently has two bedrooms and two toilets, but no full bathrooms.
Inquiries are set to come from builders and developers with a more commercial focus, as well as organisations and individual buyers.
In 2010 the church won its appeal in the NSW Land and Environment court to subdivide the land after the Woollahra Council rejected the application from the church.
Gazzard noted on his website that the unrealistically large size of the church, which has created the current situation, was always going to become an issue. 
"The Diocesan brief was simple;  'A church of contemporary design to seat 350 people which conformed to the liturgy and form of worship of the Church of England'.  
"The Anglican hierarchy based the size on two optimistic assumptions. 
"The first assumption was that tall blocks of flats would be permitted along the ridge at Vaucluse as Sydney expanded, and secondly, an unspoken assumption  that there would be a religious revival and a church of this size would be needed for all these extra people."
But as a consequence of an ageing and dwindling congregation, the church was closed, <a href="https://www.dongazzard.com/publications/articles/wentworth-memorial-church.aspx" target="_blank">he noted on his website.</a>
"While I'm proud of the design, I hesitate to suggest that you visit the church in its present sad state," he advised.
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j.ballantyne1990-6AQqhLzZaK

Iconic Wentworth Memorial Church in Vaucluse returns to the market

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The US and UK are the most mature student housing markets, and continue to dominate global investment deals, but new stock developed now in Europe and Australia paves the way for institutional investment in the future, according to a recent Savills report.
<a href="https://www.propertyobserver.com.au/images/2017/11/10/SavillsNov15Chart.png" target="_blank">Click to enlarge</a>
<img src="https://www.urban.com.au/images/2017/11/10/SavillsNov15Chart.png" alt="">
Student Housing (SH) yields and sector comparisons:
<a href="https://www.propertyobserver.com.au/images/2017/11/15/SavillsSH.png" target="_blank">Click to enlarge</a>
<img src="https://www.urban.com.au/images/2017/11/15/SavillsSH.png" alt="">
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Yields 
The US market stands out as particularly high-yielding for such a mature market. We expect yields to move in as institutional involvement increases, the sector matures and perceived risk diminishes. Although they are less developed markets, there is also potential for further downward yield shift in Australia and Spain over coming years. Whether Germany, the UK and France are fully valued at 3.75%-4.5% will depend on how much scope there is for rental growth in their main university cities. The gap between residential and student housing yields remain, although we expect it to narrow. 
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Source: <a href="http://pdf.euro.savills.co.uk/global-research/world-student-housing-2017-18.pdf?utm_source=PropertyObserver&amp;utm_medium=DigitalAdvert&amp;utm_campaign=CPOeNewsletterBanner-WorldStudent-8Nov2017&amp;utm_source=Property+Observer+List&amp;utm_campaign=24caa627fb-Commercial_Property_27_September_2017&amp;utm_medium=email&amp;utm_term=0_a523fbfccb-24caa627fb-245615189" target="_blank">Savills World Research</a> 
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Australia leads in student housing yields: Savills

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Darlinghurst’s Tropicana Caffe – better known for being the birthplace of the world’s largest independent film festival, Tropfest – has sold before auction for $6 million on a tight 4.2 per cent yield.
The property was on the market for only 10 days before it was snapped up by an Australian expatriate, unconditionally, two weeks before its scheduled auction.
The Victoria Road café site shot to fame in 1993 when actor John Polson approached then restaurant owner Sergio Tezzo with the idea to host 200 guests for an amateur short film evening in the café named Tropicana Short Film Festival.
The film festival has moved recently to Parramatta Park and its name has been shortened to ‘Tropfest’.
The selling agents were LJ Hooker Commercial’s Steven Kruyer and James Griffiths.
“The Caffe is known as the birthplace of the short film festival. But - in its own right - it’s been a staple of Darlinghurst’s dining scene for almost three decades,” Kruyer said.
He added that the buyer was drawn to the security the investment offered, especially with the recent purchase of the business by Tonci Farac, the former owner of Wildfire Restaurant in Circular Quay, who has taken a long-term lease on the building. Duncan Thompson, a long-term member of Bill Granger’s restaurant team, will be managing the restaurant.
“Tonci Farac, a well-known Sydney hospitality figure, has taken a 10-year lease with 2 x 10-year options on the Tropicana Caffe, so the purchaser recognised the safety of the investment.”
He said the tight yield was representative of the buyer demand in the city and fringe.
“There’s a lot of investors seeking sub $10 million assets, and when there’s a long-term lease in place, they’re prepared to pay a premium, as happened with the purchase of the Tropicana,” he said. 
“A sub five per cent yield is very strong in the hospitality industry and we’re expecting to see more interest at this level going forward.”
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Darlinghurst cafe where film festival Tropfest was born snapped up before auction by expatriate

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Two residential properties in the historic suburb of Millers Point, including Sydney’s first ever walk-up apartment building and an entire row of period terrace duplexes, will be sold through auction on December 14.
There is a price guide of $9 million to $9.5 million, which will be the second most expensive Millers Point disposal, after a block of 12 apartments at 44-48 Merriman Street and 56-62 Bettington Street sold for $12.3 million in 2016.
They are being sold off by Property NSW on behalf of Family and Community Services as part of the Millers Point sales programme to fund social housing. So far, the sales have delivered more than $467 million.
As of August, 655 new social housing dwellings have been completed and 422 dwellings are under construction, Property NSW said in a media release.
‘Stevens Buildings’ at 73 Windmill Street (picture above) is of architectural importance and is recognised by the NSW Trust as the first residential apartment building to be constructed in NSW.
Designed by renowned architect Joseph Alexander Kethel (1866-1946), the heritage building sits on a 1,802 sqm site and comprises 11 apartments (nine x one bedroom and two x two bedrooms) capturing views of the Sydney Harbour Bridge, Garrison Church and Observatory Hill.
It was built in 1900 as a boarding house on the site of the former ‘Live and Let Live Hotel’ and was the first walk-up block of flats in Sydney.
Some apartments offer dual aspect and flow through. All have open balconies with the ground floor with its own courtyard.
The other building, 74-80a High Street, comprises eight two-bedroom period terrace duplexes divided into two blocks each comprising four apartments on a 539 sqm island site. 74-80a High Street is expected to fetch about $8 million to $8.5 million.
The block is one of a group of early twentieth century workmen’s apartments built by the Sydney Harbour Trust in the early 1900’s.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/11/10/74-80aHighSt.jpg" alt="">
There is scope to transform the apartments to their original condition, subject to Conservation Management Plan (CMP). The solid brick construction boasts deep verandahs, spacious kitchens, living and dining areas, with the first floor duplexes also comprising roof-top drying terraces with panoramic views across Barangaroo, Balmain and Darling Harbour.
Both addresses will be sold in one line (separately) via public auction through Robert Lowe and David Hickey of Savills Australia and Richard Shalhoub of Sotheby’s International Realty on behalf of Property NSW.
“This is a truly unique occasion for investors and developers alike to own a piece of Sydney’s rich heritage” said Robert Lowe of Savills.
Richard Shalhoub of Sotheby’s International Realty added that there was potential to transform the 1900’s historical masterpiece ‘Stevens Buildings’ into luxurious residences.
“There is actually tremendous scope to restore and transform both assets which are zoned as R1 General Residential, which will provide housing needs for the community and maintain the existing land use pattern of predominately residential use and we expect interest from both local and offshore investors and developers” he continued.
Separately, McGrath Estate Agents have also started marketing the following properties that are to be auctioned on December 6:
<ul>
<li>40 Merriman Street - one bedroom terrace</li>
<li>42 Merriman Street terrace - one bedroom terrace</li>
<li>125 Kent Street - four-bedroom terrace</li>
<li>46-48 Argyle Place - five-bedroom terrace</li>
<li>88 Kent Street terrace - four-bedroom terrace</li>
<li>61 Windmill Street terrace  - three-bedroom terrace</li>
<li>70-72 High Street - block of four apartments, each with 2 bedrooms</li>
</ul>
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Sydney’s first walk-up block of flats for sale in Millers Point

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Ocean Dunes, the golf course on King Island in Bass Strait, has been listed for sale.
Colliers International's Guy Wells and Comac Property Group's Paul Mason have been appointed to broker the Bass Strait property. Offers close December 6.
<a href="http://www.colliers.com.au/162029/" target="_blank">The golf course</a>, ranked fourth best in Australia by Golf Australia magazine, was developed by a group of Victorian-based investors and golfing enthusiasts.
The 18-hole course includes the King Island hotel. The 190-hectare property includes a site next to the course set aside for further development.
It comes with a permit to develop 21 motel suites.
The Cape Wickham Golf Course on King Island was bought by a Vietnam-based investor for $16 million earlier this year.
The Cape Wickham course was ranked the 24th best golf course in the world by Golf Digest in 2016.
It was put up for sale by Australian Ratings (now Standard &amp; Poor's Australia) founder, the property developer Duncan Andrews.
The buyer is a company called Cape Wickham Golf Links Pty Ltd, is wholly owned by Ekaterina Kolmakova from Hanoi in Vietnam.
The sole director of the company is Sydney-based Richard Nebauer, the Australian Financial Review noted recently.
Cape Wickham, which opened in October 2015, was a collaboration between US architect Mike DeVries and Australian golf writer Darius Oliver.
King Island, is a forty minute flight from Melbourne, set between Victoria and Tasmania.
It is renowned for its fresh produce and increasingly its world standard golf courses.
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Ocean Dunes golf course listed after earlier King Island sale

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A result that will surprise a few observers, with the Commonwealth Bank of Australia reported unaudited cash earnings of around $2.65 billion for the quarter, up by +6% on improved margins. 
There were seasonal declines in personal loans and credit card arrears.
An interesting point of note was that 90-plus day home loan arrears were tracking at 0.59%, marginally lower from the preceding quarter. 
CBA noted that 90-plus day home loan arrears have declined slightly over the past few years to 0.48% when the state of Western Australia is excluded.
<img src="https://4.bp.blogspot.com/-cfk8FlVcMbY/WgNFN4xiRpI/AAAAAAAAm7A/fnLLJO2PFkcnuw_PLTaZYnimSeBQ2fzJgCLcBGAs/s640/CBA.jpg" width="640" height="346" data-original-height="550" data-original-width="1012">
 
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pwargent-M4siyDbqQY

Home loan arrears tracking lower at CommBank: Pete Wargent

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When the developer Dyldam launched its South Quarter project at Parramatta – on the former Auto Alley – last  month they noted there was especially strong interest from first time buyers amid high local interest.
The average off the plan sale price was $750,000 in what will become a $876 million residential mixed-use project on the former Holden car yard.
It is a sign that after a lengthy absence, first time buyers are emerging across NSW, perhaps lured by the expansion in the available government grants. 
The latest ABS data calculated 2,426 first home buyer commitments in August which represented the biggest monthly number for five years.
Though still below the longterm average, NSW first home buyers accounted for 12.9% of owner occupier commitments over the month, the highest proportion since 2012.
It was up from a recent NSW low of 7.5% in February 2017 when it looked easy to conclude that our higher housing prices had significantly reduced the probability of many ever becoming an FHB.
There's been research recently done by the Reserve Bank of Australia which confirmed that ‘generation rent’ is a reflection of higher housing prices rather than any shift in preferences.
It seems young households still have a desire to become home owners, however, fewer potential FHBs are actually able to enter the housing market.
It particularly noted the underlying desire to become an FHB has not changed since the global financial crisis.
"However, people’s ability to, or comfort with doing so, has been affected," it noted.
The research suggests the decline in home ownership was not as much influenced as previously thought from social and demographic and factors, including key life-cycle events such as exiting the family home, marriage and having children. 
The research paper, comparing FHB loan characteristics in this pre- and post-financial crisis periods, shows the major consequence of the current higher prices is that FHBs have to save a much larger deposit.
That is despite maintaining a similar median loan-to-valuation ratio of around 83%.
The median deposit size increased by around $28,000 to almost $70,000 in the 2008–14 period.
The median purchase price of FHB homes across Australia in the 2008–14 period was $387,000, which was almost $100,000 higher than the price paid by FHBs in the 2001–07 period
The transition from being a renter to a first home buyer is the riskiest of steps in one's fiscal life. And I'd suggest those doing so currently are doing it with heightened risk.
But interestingly despite higher debt levels, households who became FHBs post-2007 appear to be paying down their mortgages and reducing their debt-to-income ratios at the same rate, or slightly faster, than households who took on a mortgage before 2007.
The research noted in the year after taking out a loan, the reduction in the debt-to-income ratio for FHBs in the post-2007 period was around 8%, compared to 5% for the pre-2007 borrowers. No doubt low interest rates being a key factor.
It also noted recent FHBs have been less likely to have ever been behind schedule on their loan.
This article first appeared in The Daily Telegraph. 
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