Gold Coast-based developer <a href="https://www.apartments.com.au/developers/ignite-projects">Ignite Projects</a> has lodged a Development Application for a landmark $120 million precinct set to transform the southern gateway of the much-loved Spit.

Positioned at the most prominent entry point to the iconic peninsula, the project has been designed with a strong focus on architecture, public space, heritage and connectivity, delivering a revitalised parkland setting that invites locals and visitors to engage with the Broadwater.

Central to The Isles proposal is a significantly upgraded public realm, including landscaped open space, a new waterfront café, and a family-friendly park featuring a naval-themed playground, open lawns and improved pedestrian connections.

<img alt="Ignite Projects unveils exciting details of landmark gateway precinct for the Spit" data-entity-type="file" data-entity-uuid="de83a270-6091-4b26-bed0-86f9248e7f9e" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/The%20Isles%201.jpg?VersionId=vt79HlCOwV9F7eLQe9.Z3bv9JGLMaSP2" />

The design retains and celebrates key elements of the site’s history. The training mast from the vacant and degraded naval cadet building, which forms part of a former Navy minesweeper, will be preserved. The existing Navy Memorial will be relocated and upgraded in collaboration with the RSL, allowing it to be publicly accessible for the first time in years. 
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Heritage-listed Humphreys Boat Shed remnants will remain and be incorporated into the landscape, while the site’s established Norfolk Pines will be retained, reinforcing the area’s character and sense of place. The enhanced parkland will ultimately create a long-term community asset at the entry to The Spit. 
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The Development Application (DA) lodged with Gold Coast City Council includes 28 waterfront apartments across three levels, ranging in size from 145sqm to 383sqm, designed as a feature landmark within the precinct and complement the public domain.

<img alt="Ignite Projects unveils exciting details of landmark gateway precinct for the Spit" data-entity-type="file" data-entity-uuid="bbf94e00-b56a-47fb-a15d-3d17b0b1ec76" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/The%20Isles%203.jpg?VersionId=A0vmBNE_KohYJo1EoZcmF5IVW4tT5aDo" /> 
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Ignite Projects Director Josh Foote said the project as a whole had been carefully shaped to deliver a meaningful outcome for the wider community, not just future residents. 
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“This is about more than delivering opulent apartments – it’s about creating a welcoming and memorable gateway to The Spit that people can enjoy every day,” Mr Foote said. 
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“We’ve worked hard to ensure the public realm is a central part of the project, from the landscaped parklands and family-friendly spaces through to the preservation and celebration of important local heritage.”

<img alt="Ignite Projects unveils exciting details of landmark gateway precinct for the Spit" data-entity-type="file" data-entity-uuid="443bbde5-8221-45f8-a549-dad2623df20c" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/The%20Isles%204.jpg?VersionId=iUl6nc.sHkjMdo_1RigwbwUz_celHJ3H" /> 
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Designed by <a href="https://www.apartments.com.au/architects/contreras-earl-architecture">Contreras Earl Architecture</a>, The Isles adopts a considered subtropical approach, with the building form shaped to maximise natural light, cross ventilation and views to the Broadwater and surrounding parklands. 
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Architect Rafael Contreras said the design responded directly to its unique coastal setting. 
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“Rather than a typical built form, the architecture has been shaped by performance and experience – from optimising outlook and privacy to creating a strong connection to landscape and climate,” Mr Contreras said. 
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“A central landscaped courtyard allows light, air and greenery to permeate the building, while the articulated façade introduces movement and rhythm inspired by the Broadwater.

“The Isles will create a place where people can gather, relax and connect with the water, while also delivering a refined residential product that responds to its unique setting.”

<img alt="Ignite Projects unveils exciting details of landmark gateway precinct for the Spit" data-entity-type="file" data-entity-uuid="1089570d-1120-4302-9900-fb9f75c75c26" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/The%20Isles%205.jpg?VersionId=pl9qmKZNbaL3A7XjmD7sjhLwmXaqzzLZ" /> 
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The DA relates to the residential and public realm components, with a proposed boutique marina to be progressed as part of a future stage, subject to separate approvals. 
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The Isles is being delivered under The Spit Master Plan, a collaborative vision to create a new residential, tourism, leisure, natural environment and cultural heritage hub on the iconic and much-loved peninsula.&nbsp; 
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Ignite Projects has an established track record delivering premium residential projects across the Gold Coast, including The Monaco at Main Beach and Cabana at Palm Beach. 
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Sales for The Isles are expected to commence in coming months from an on-site display suite, with construction targeted to begin later this year, subject to approvals.

Joel Robinson

Ignite Projects unveils exciting details of landmark gateway precinct for the Spit

The Federal Government’s sweeping changes to negative gearing and capital gains tax could trigger an unintended consequence: a surge of investor demand into the new and off the plan apartment sector.

While Treasurer Jim Chalmers has framed the reforms as a way to improve housing affordability and rebalance the tax system, the carve-outs for newly built housing are already positioning off the plan apartments as one of the few remaining tax-effective property investment plays.

Under the changes handed down in the Federal Budget, investors purchasing established properties after budget night will no longer be able to access negative gearing benefits. The Government will also replace the long-standing 50 per cent capital gains tax discount with a new inflation-indexation model and introduce a minimum 30 per cent tax on gains from July 2027.

However, there is a major exemption.

Investors buying new builds, including off the plan apartments, will still be eligible for negative gearing and will be able to choose between retaining the current 50 per cent CGT discount or adopting the new indexed model.

That distinction is expected to reshape investor behaviour almost immediately.

For years, established housing has dominated investor purchases because of its perceived lower risk, immediate rental returns and stronger historical capital growth. But with the tax advantages now heavily skewed toward new housing supply, the economics are changing rapidly.

The Federal Government has been explicit about its intent.

“The housing market and tax system are broken,” Chalmers said ahead of the Budget, arguing that existing concessions were disproportionately rewarding speculation rather than supporting housing supply.

The Government says the reforms are designed to encourage investment into new housing rather than established stock, a move aimed at increasing supply during a prolonged housing shortage.

According to the official Budget papers, limiting negative gearing to newly built homes is intended to “better align tax incentives with housing supply objectives.”

For the apartment development sector, particularly the off the plan market, the changes could become one of the strongest investor tailwinds in years.

Developers across Sydney, Melbourne and Brisbane have spent the past two years battling elevated construction costs, higher interest rates and subdued investor confidence. Many projects have struggled to secure sufficient pre-sales to commence construction, particularly in markets heavily reliant on investor demand.

The Budget changes may now alter that equation.

Investors seeking tax-effective property exposure will increasingly find themselves funnelled toward newly built apartments simply because established dwellings no longer offer the same benefits.

Commonwealth Bank described the reforms as one of the most significant shifts to residential property investment settings in decades, noting that the package is centred around “limiting negative gearing for residential property to new builds” while replacing the existing CGT framework.

That could have profound implications for the apartment sector.

Off the plan apartments already hold several advantages for investors. Purchasers typically secure a property at today’s price while settlement occurs years later, allowing time for capital growth and reducing the upfront capital burden. Brand-new apartments also generally attract depreciation benefits, lower maintenance costs, and stronger appeal to renters seeking modern amenity.

Now, they may also become one of the only residential property types still offering the full suite of historical tax advantages.

Industry analysts expect investor demand to increasingly migrate toward projects that can clearly demonstrate strong rental demand, transport connectivity and long-term supply constraints.

The shift is likely to be particularly pronounced in apartment markets already underpinned by structural undersupply, including inner Brisbane, the Gold Coast, parts of Sydney’s Lower North Shore and select Melbourne precincts where new apartment commencements have collapsed over recent years.

The reforms also arrive at a time when apartment supply nationally remains critically constrained.

Australia is already struggling to meet the Federal Government’s target of delivering 1.2 million new homes over five years. Construction feasibility pressures have delayed or shelved thousands of apartments across the country, particularly as building costs remain elevated and financing conditions remain tight.

Critics of the Budget changes argue the reforms could reduce overall investor participation in the housing market and place upward pressure on rents by discouraging investment in established housing.

Some economists estimate the measures could reduce housing supply over the longer term if overall investor appetite weakens.

However, the Government is betting that redirecting investor capital into new housing supply will offset those concerns.

“To continue to incentivise construction of new housing, investors building new residential properties will be able to choose either the 50 per cent CGT discount or the new arrangements,” the Budget papers stated.

That wording has been closely watched by the development industry because it effectively positions new apartments as the preferred investment class within residential property.

For off the plan developers, the reforms could become a powerful sales tool.

Projects that have increasingly relied on owner-occupier demand may once again attract investors seeking to preserve the tax advantages still attached to newly built housing before the July 2027 changes take effect.

The reforms are also expected to sharpen the divide between established and new housing markets.

Rather than a broad investor retreat from property altogether, many analysts expect a redistribution of capital toward sectors still supported by Government incentives.

That could create stronger demand for apartment projects in key urban growth corridors and transit-oriented precincts where population growth, migration and rental shortages remain elevated.

The policy direction also aligns with the Government’s broader push toward increasing housing density in established urban areas.

Across Sydney, Brisbane and Melbourne, planning reforms are increasingly encouraging higher-density apartment development around transport infrastructure and activity centres. By maintaining tax incentives for new housing, the Federal Government is effectively reinforcing that agenda from a taxation perspective.

For apartment developers who have spent years navigating subdued investor confidence, the changes may ultimately become the catalyst that reactivates parts of the off the plan market.

While the broader property sector is still digesting the long-term implications of the Budget, one thing is already becoming clear.

The era of investors buying established apartments and houses primarily for tax advantages may be ending.

But for off the plan apartments, the investment story may just be beginning.

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Investors to flood off the plan apartment market?

Adding to Chatswood’s growing skyline, <a href="https://www.apartments.com.au/new-apartments/the-anderson-chatswood-54-56-anderson-street-chatswood-nsw-2067">The Anderson</a> is grounded in a simple principle: apartment living in a major centre does not have to come at the expense of space and outlook.

Set on Anderson Street in the heart of <a href="https://www.apartments.com.au/developments/chatswood-nsw-2067">Chatswood</a>, the new residential tower, a collaboration between developers <a href="https://www.apartments.com.au/developers/changfa-group">Changfa Group</a> and <a href="https://www.apartments.com.au/developers/huirong-group">Huirong Group</a> with architecture and interiors by <a href="https://www.apartments.com.au/architects/ajc-architects">AJC Architects</a>, will introduce 122 apartments that prioritise generous proportions, considered orientation, and a strong connection to the surrounding heritage precinct.

The design originated from a Design Excellence Competition, where AJC proposed a building that combines suburban-style apartment scale with the density expected in a transport-rich centre. The development will include more than 1,800 square metres of retail and commercial space at street level, landscaped communal roof terraces, and a ground-floor pocket park framed by canopy trees. Together these elements aim to create a building that integrates with Chatswood’s evolving streetscape while maintaining a strong residential focus.

[smartcode_project:default project_id=151353 project_image_fid=353250]

A key driver behind the architecture was the desire to deliver family-sized apartments rarely seen in the Chatswood market. The Anderson includes a mix of one to four-bedroom apartments, with around 35 per cent of the residences configured as three or four-bedroom homes. At the top of the building, two double-storey penthouses span approximately 200 square metres each, reinforcing the project’s emphasis on scale and long-term liveability for both downsizers and intergenerational households.

Orientation and outlook were central to the planning of the building. The apartments are positioned to maximise views to the north and east across Chatswood’s heritage precinct, with upper levels capturing glimpses of the Pacific Ocean. South-facing apartments gain distant views toward the Sydney CBD and Harbour Bridge, while the building’s configuration intentionally reduces western exposure at lower levels to minimise overlooking toward the nearby railway corridor.

The external design references the character of the surrounding conservation area without replicating it directly. A brick podium anchors the building to the street and introduces a series of architectural portals that draw inspiration from the nearby Chatswood Presbyterian Church. Above this base, the tower shifts to a lighter, more open expression defined by horizontal lines and carefully detailed balconies that balance privacy with outward views.

[smartcode_project:default project_id=151353 project_image_fid=353254]

Toward the top of the tower, AJC introduces a distinctive lantern-like element formed by sliding screens. These screens provide both solar shading and privacy while also creating a visual marker for the building within the Chatswood skyline. The feature reinforces the architectural intent of the project, a structure that is visually refined while still responding to the practical requirements of apartment living.

Inside the residences, interior architecture focuses on clear spatial flow and practical everyday use. Open-plan living areas connect directly to large balconies, extending the internal living spaces outward and allowing natural light to move deeper into the apartments. Kitchens are designed as central working spaces with premium appliances and carefully selected materials, positioned to serve both daily living and entertaining.

[smartcode_project:default project_id=151353 project_image_fid=353256]

Bathrooms follow a similarly restrained design language, using refined fixtures and materials to create calm, functional spaces, while wardrobe areas adopt a gallery-style layout with integrated lighting and generous storage. These elements reflect a broader design approach that prioritises clarity, functionality, and durability over decorative gestures.

Positioned just a short walk from Chatswood Interchange, residents will have direct access to rail, metro, retail, and dining. The Metro extension allows travel from Chatswood to Martin Place in approximately 11 minutes, placing the CBD within easy reach for residents while maintaining the convenience of a walkable North Shore neighbourhood.

One-bedroom apartments at The Anderson start from $1,022,000.

[smartcode_project_cta:default project_id=151353]

How AJC designed The Anderson to bring oversized apartment living to Chatswood

<a href="https://www.apartments.com.au/developers/bridgewell-development">Bridgewell Capital</a> has lodged plans for a major mixed-use apartment development in the heart of Maroubra, seeking a significant uplift in height and density controls to deliver 120 apartments and a 120-place childcare centre near Maroubra Junction.

The State Significant Development application, filed through the NSW Government’s Housing Delivery Authority pathway, covers a 3,270 sqm amalgamated site at 251-257 Maroubra Road and 133-135 Garden Street. The proposal includes a concurrent rezoning that would increase the maximum building height from 12 metres to 35.6 metres and lift the floor space ratio to 4.02:1.

Designed by <a href="https://www.apartments.com.au/architects/bka-architecture">BKA Architecture</a>, the project would replace a mechanic’s workshop and several detached homes with a 10-storey residential building above four basement levels.

The scheme comprises 120 apartments, including 27 affordable housing units to be managed by a community housing provider for 15 years, alongside 203 basement car spaces and 92 bicycle spaces. A childcare centre occupying nearly 900 sqm of floor area would sit at ground level and be capable of accommodating 120 children and 22 staff.

<img alt="First look: Bridgewell plots 120 apartments and childcare centre in Maroubra town centre" data-entity-type="file" data-entity-uuid="038a0639-f9e4-4303-8fcc-d43e73fa480f" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Bridgewell%20pers.png?VersionId=eGBElxmNqJW.YF3JFYgHTnPgAstdyXR3" />

According to the Design Report, the project has been conceived as a “gateway proposal” that responds to Maroubra’s evolving urban character and its proximity to the town centre.

“Designed to complement the character of Maroubra’s town centre, this gateway proposal features a building scale that matches its surroundings,” the report stated.

“It integrates residential units above a ground-level childcare centre, fulfilling the strategic objectives of the Randwick City Council Masterplan.”

The apartment mix is weighted toward larger residences aimed at families and downsizers, reflecting changing demographics in the Randwick LGA and increasing demand for medium-density housing close to transport and amenity.

BKA Architecture said the proposal seeks to reinforce Maroubra Road as a civic spine while improving the pedestrian experience around the site through landscaping and upgraded public interfaces.

“The design capitalises on the following site opportunities: reinforcement of Maroubra Road as a civic spine, enhancement of pedestrian pathways and the public interface via new landscaping, and strong market demand for two and three-bedroom apartments to support families and down-sizers,” the Design Report noted.

<img alt="First look: Bridgewell plots 120 apartments and childcare centre in Maroubra town centre" data-entity-type="file" data-entity-uuid="ee509779-3c7e-4918-b03d-761c785459d0" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Bridgewell%20site.png?VersionId=eZC4Ruyn.C7O.Qwfr1SVeP5.ds1c5.66" />

The building has been designed with setbacks and articulation intended to transition between the commercial intensity of Maroubra Junction and the surrounding lower-scale residential neighbourhoods. Communal open space is proposed on level one, while upper-level apartments would secure views towards Port Botany, Maroubra Beach and Sydney’s eastern suburbs.

The development sits around 200 metres east of the Maroubra Junction intersection of Anzac Parade and Maroubra Road, within one of Randwick’s identified strategic centres. The site is close to Pacific Square Shopping Centre, major bus routes, schools, parks and future cycling infrastructure proposed under the Maroubra Junction Masterplan.

The Maroubra proposal aligns with broader NSW Government initiatives encouraging higher-density housing near established centres and transport corridors, particularly where affordable housing is incorporated.

Bridgewell is also working on a <a href="https://www.apartments.com.au/news/qld/goldfields-sets-the-stage-as-quartet-milton-launches">new 55-unit project in Killara</a>.

First look: Bridgewell plots 120 apartments and childcare centre in Maroubra town centre

National diversified developer <a href="https://www.apartments.com.au/developers/goldfields-group">Goldfields</a> has launched its latest Brisbane apartment project, <a href="https://www.apartments.com.au/new-apartments/quartet-milton-33-manning-street-milton-qld-4064">Quartet Milton</a>, marking its entry into the sought-after inner-city suburb just two kilometres from the CBD.

The circa $100 million development will rise 18 storeys and deliver 131 apartments, offering a mix of one, two-, and three-bedroom residences.

Ideally located on Manning Street, Quartet residents will be within 300 metres of Milton Station, 500 metres from the Milton Ferry Wharf, and a short walk to Milton Markets, the iconic Park Road, as well as a range of breweries and cafés.

[smartcode_project:default project_id=108736 project_image_fid=367993]

Designed by architecture firm <a href="https://www.apartments.com.au/architects/rothelowman">Rothelowman</a> and brought to life by <a href="https://www.apartments.com.au/architects/cera-stribley-architects">Cera Stribley</a>, the building features a simple, gridded façade paired with generous glazing to enhance views, maximise aspect, and capture both sunrises and sunsets from within the apartments and their generously sized balconies.

Residents will have access to a 1,000 sqm rooftop, curated to balance wellness and entertaining, in response to increasing demand for wellness-focused shared spaces.

"We've approached Quartet Milton as a complete lifestyle offering, not just apartments, but a place where the design, amenities, and location all work together in a meaningful way," says Goldfields Managing Director Lachlan Thompson.

"Buyers are looking for that sense of confidence, knowing the vision has been carefully thought through not just by us as developers, but by all our consultants appointed to bring this together, and that it will be delivered to the standard they expect."

[smartcode_project:default project_id=108736 project_image_fid=368000]

Cera Stribley Co-Founder and Managing Principal Domenic Cerantonio said the rooftop is designed to feel like a place "you'd genuinely use every day."

"A 25-metre pool framed by city and mountain views, wellness areas, and private dining spaces for evenings with friends create a setting designed for year-round comfort and effortless Brisbane living."

[smartcode_project:default project_id=108736 project_image_fid=367999]

In addition to the 25-metre pool, the rooftop will include a sauna, cold plunge, fully equipped gym, and zen gardens, all complemented by panoramic views of the city and river.

While the building is expected to appeal predominantly to owner-occupiers, Goldfields anticipates interest from investors seeking strong rental returns, driven by the project's design, location, and the city's projected capital growth in the lead-up to the 2032 Brisbane Olympics.

[smartcode_project:default project_id=108736 project_image_fid=367991]

<a href="https://www.apartments.com.au/developments/milton-qld-4064">Milton</a>, widely regarded as one of Brisbane's most desirable inner-ring suburbs due to its lifestyle offering and proximity to the CBD, has experienced a shortage of new apartment supply in recent years.

Goldfields is already active in the Brisbane residential market through its Ripley Valley masterplanned community, Hayfield. The 109-hectare neighbourhood is already home to more than 300 families and features a large community park.

Plans for the precinct include a 4 km running track, future schools, and retail and commercial amenities, all within a 35-minute drive of the Brisbane CBD.

Goldfields also plans to deliver a new mixed-use tower at 88 Robertson Street in Fortitude Valley, within the James Street precinct. The project will include 16,000 sqm of boutique commercial space, a level of wellness facilities, and a rooftop restaurant and event space, akin to Goldfields House in South Yarra, its flagship mixed-use development on Chapel Street, which is crowned by the Beverly Rooftop bar, one of Melbourne’s best-known venues.

[smartcode_project_cta:default project_id=108736]

Goldfields sets the stage as Quartet Milton launches

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 retail terrace in Sydney’s Leichhardt is on the market. 
The <a href="https://www.propertyobserver.com.au/https://leichhardt.randw.com.au/residential-for-sale/0000348222" target="_blank">46 Norton Street</a> terrace is ready to occupy and trade immediately. It has development approval for multiple tenancies.
The property was expected to fetch around $1,350,000 - $1,450,000 when listed earlier this month for auction.
It last changed hands for $1,050,000 in 2014, according to CoreLogic RP Data.
Zoned B2, the property can be occupied, leased or developed as it is within Leichhardt's sought after retail and commercial precinct. 
According to the description, the property is well suited for for professional businesses such as accounting, architecture, consulting, education, finance, IT and various others.
The land area is about 170 sqm while the building size is about 120 sqm.
The listing agents are R&amp;W Leichhardt’s Santos Sulfaro and Frank Sulfaro.
 
 
 
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jonathanchancellor-7SQnKwU6yx

Retail terrace in Leichhardt's commercial precinct listed

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Creative is the buzzword at Holt and Hart, an office precinct in Sydney’s inner suburb of Surry Hills.
Recently, an office space at <a href="https://www.commercialpropertyguide.com.au/property/258663/sale/suite-309-50-holt-street/surry-hills-nsw-2010/offices/" target="_blank">Suite 309, 50 Holt Street</a>, was sold for an undisclosed sum.
The 201 sqm, strata titled office was advertised for auction with expectations of $2.3 million.
It changed hands recently in July this year for $2,050,000, according to CoreLogic RP Data. The vendor was Oriental Capital Pty Ltd.
According to the description, the property comes with “uncompromising level of finish, fit-out, services and amenity”.
The workplace has a sense of style. The building is anchored by a variety of cafes and eateries that add to its overall appeal. 
The property’s features include 201.2 sqm of net lettable area and passing income of $138,583.
The space is leased until October 2018 with further options till 2021 and  5% annual increases.
There is a fixed 5% review at the take up of the option.
<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/2017/09/19/Creative2.jpg" alt="">
Tenants include fashion, media, and design businesses, including Cue Clothing.
The selling agents were Gunning Real Estate’s Tom Speakman and DB Property’s David Brown. 
A shortage of creative office spaces in the Sydney CBD is inspiring tenants to come up with own creative solutions to customise their workspaces, with a recent example being at 6 O’Connell Street.
 
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Creative office spaces in demand as Surry Hills suite snapped up

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Bedding and homewares brand Moss River has collapsed into voluntary administration with 65 creditors owed more than $2.6 million, and three stores quickly closed.
It is just two years since the business first fell into the hands of administrators in July 2015.
BDO partners Andrew Sallway and James White were appointed last month as administrators to Fineline Home Products Pty Ltd, which operates eight Moss River stores and an online store.
It employs around 40 people, mostly along Australia’s east coast.
The 39-year-old business sells linen and homewares items.
It previously went into administration in 2015 when it was then owned by an entity called Residential Homewares.
Administrator Andrew Sallway told the SmartCompany website challenging retail conditions led to the latest voluntary administration for the retailer.
The closure of the three Moss River stores were at Hyde Park in South Australia, Hawksburn in Victoria and Mona Vale in New South Wales.
The Moss River online store was described by Sallway as “easily the best revenue generator” and the best performing asset in the group.
Moss River has approximately 65 creditors, and BDO says on first estimates these parties are owed $2.6 million.
Sallway says the search for a suitable buyer for the business will continue.
Retail expert at Queensland University of Technology associate professor Gary Mortimer noted the next few years are likely to be tough for small retailers in the homewares space.
The discount department store market is generating one fifth of its sales from homewares, according to latest IBISWorld data, with discount grocer Aldi recently making a move into the increasingly crowded space.
 
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Homewares retailer Moss River goes into voluntary administration again

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An inner city vineyard on the Yarra River near Melbourne has been listed for November 1 auction with $12 million to $13 million hopes through Scott Patterson at Kay &amp; Burton.
The <a href="https://www.realestate.com.au/property-house-vic-hawthorn-126555554" target="_blank">Hawthorn vineyard</a>, just four kilometres from Melbourne, is the home of Coppin Grove Wines, a boutique family vineyard established in 1998, comprising approximately 1000 Pinot Noir, Chardonnay and Nebbiolo vines.
The vineyard's signature wine is the Coppin Grove Sparkling. 
It has been the work of Michael Cohn, who runs his own business importing and distributing textiles in Australia, and his wife Ann. 
They paid $1,404,000 for the 8,200 sqm double block in 1996.
This article appeared in The Weekend Australian.
<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/2017/10/23/VineyardYarra1.jpg" alt="">
 
 
 
 
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Vineyard on the Yarra River listed with $13 million hopes 

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Large scale infrastructure is inflating activity taking place across the construction industry according to the CoreLogic October Construction Monthly report.  
CoreLogic captured 2,018 development applications and proposals flowing into the construction pipeline across Australia in the month of September.
While 15.4% lower than the number of development applications captured in the previous month, it is above the five year average of 1,775.  
The total value of development applications was $11.2 billion over the month.
Again, this construction value is above the 5 year average of AU$9.3 billion, and was partially driven by the development proposal for a component of the Cross River Rail Line in Brisbane, a project which was first reported by CoreLogic in 2002.  
The Cross River Rail project reached a milestone, following Deputy Premier Jackie Trad's announcement that 5.9 km of tunnelling, four new underground stations and associated work, will be carried out under a pubic private partnership.
(Note: Tenders were called for a $2.5 million tunnel, stations and development package as of the 22nd of September)  
This is the third consecutive month where the value of construction work entering the pipeline has been inflated by a large civil engineering project.
While development applications remain buoyant, CoreLogic captured just 658 projects moving into the construction stages in September. This is far lower than the 5 year average of 1,041 projects per month, and is 27.9% less than moved into construction in the previous month.  
The combined value of projects that moved into construction over September fell by 36.8% on the previous month, to AU$3.5 billion. While all segments outside of commercial building saw a decline, the largest by far was in civil engineering. The value of civil engineering projects commencing was $722 million, down from $1 billion in the previous month.  
While far fewer projects are currently moving into construction, the resilience of the pipeline may see higher levels of construction commencing over the next 6-12 months.
CoreLogic commercial research analyst <a href="https://www.propertyobserver.com.au/https://www.corelogic.com.au/taxonomy/term/56" target="_blank">Eliza Owen</a>.
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Queensland state government joins east coast push for infrastructure 

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Twelve warehouses at Altona’s Aylesbury Industrial Park have sold out within weeks of construction commencing, a pointer to the strong demand in Melbourne’s south-west suburb of Altona.
Another 20 off-the-plan boutique warehouses in the same business park have also been listed at 36 Aylesbury Drive. 
Six are already in the process of being sold.
The listing agents are Michael Ryan and James Gregson of Allard Shelton.
“Despite there being a significant amount of competing stock in Altona and surrounding suburbs, the demand in this development for off the plan and unfinished stock has been tremendous,” Ryan said.
“We still have a number of disappointed buyers who missed out on 26 Aylesbury Drive and are ready to purchase. Many of them are now setting their sights on the upcoming development at 36 Aylesbury Drive with 6 of the warehouses already on their way to being sold,” Ryan said.
Ryan added that the vendors might decide to build a similar development after the response to the others.
26 Aylesbury Drive was owned and developed by two of Victoria’s largest civil engineering and construction groups, Civilex and Conset Group. 
Construction of 26 Aylesbury Drive is scheduled for completion in November.
Sized between 195 sqm and 205 sqm, the warehouses sold between $405,000-$425,000 for a total of just under $5 million.
Seven out of the 12 Aylesbury warehouses were sold to owner occupiers and the rest to investors. 
Gregson said the mix of investors and owner occupiers buying these assets, pointed to the affordability and easy transport access of the Altona estate as key drivers.
 
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Quick sellout of warehouses at Altona business park 

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A shortage of creative office spaces in the Sydney CBD is inspiring tenants to come up with own creative solutions to customise their workspaces.
A recent example is <a href="https://www.realcommercial.com.au/property-offices-nsw-sydney-500609535" target="_blank">6 O’Connell Street</a>, a building owned by Investa Office Fund which recently became home to two creative tenants: design firm Gensler and Axiom Workplaces.  
Both have transformed their new workspace using clever design to deliver premium creative space, according to Colliers International, which facilitated the leasing deals.
Dean Bracken and Trent Stephens from Colliers along with Cushman &amp; Wakefield have been appointed as leasing agents by Investa for 6 O’Connell Street.
“Given the limited supply of space in the CBD, tenants need to be quick to secure their ideal office spaces and make the tenancies their own. These companies are examples of those who have taken on the fit out themselves to create a workspace to their own standards,” said Dean Bracken of Colliers International, who was responsible for placing both tenants in the building.  
Axiom was represented by Luke Dutton from Colliers International Tenant Advisory.
“B Grade buildings are attracting quality tenants and high rents – this building in particular is one of the best located, fronting both O’Connell and Bligh Streets in the CBD which offers Harbour Bridge views and continues to attract a diverse range of tenants,” he added.
Global design firm Gensler were originally searching for a heritage building in the CBD location. They have transformed their 6 O’Connell Street tenancy into a sleek, sophisticated office with a homely feel. 
The office (picture above) has a residential feel upon entry, with a fireplace, wine rack and modern, wooden finishes and an artistic mural to reflect the creativity of the business.
“The ground floor space at 6 O’Connell that we now call home presented us with a great opportunity to really showcase our approach to workplace design, which often draws upon hospitality, retail and F&amp;B design influences,” Andrew Waddle, associate at Gensler, said.  
<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/2017/10/20/Gensler2.jpg" alt="">
Axiom Workplaces also recently relocated to 6 O’Connell Street, designing and delivering office space with a futuristic feel.
Their office space is designed to emulate a compass, with the middle being anchored by a virtual reality room, with exposed ceilings, concrete treated flooring and terracotta potted plants around windows adding to the overall affect. 
“We didn’t see 6 O’Connell St as just a B-grade property. In fact, we saw it as a prime location in the heart of the CBD and an opportunity to transform the space into something uniquely Axiom. Using our own expertise and talent, we’ve created our ideal workplace that encourages our teams to perform at their optimum from both a creative and a business growth standpoint,” said Alister Hales, head of Business Development and Client Services at Axiom Projects. 
“Design is at the core of what these businesses do, and their offices reflect this.” 
“With French cabaret restaurant Hubert and Spanish wine bar Balcon by Tapavino occupying lower levels of the building this location and other surrounding amenity means that 6 O’Connell Street is one of the most desirable B grade offices in Sydney’s CBD.”
 
 
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Tenants get creative at Investa’s 6 O’Connell Street in Sydney CBD

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Three service stations were among the four properties sold for a total of $14.4 million during Cushman &amp; Wakefield’s inaugural portfolio auctions held in Sydney and Melbourne.
Two unsold properties are under negotiation, the real estate agency said.
The three Caltex petrol stations in Melbourne and Sydney all have 15-year leases in place. 
The auction was led by the sale of a 2,665 sqm Mt Waverley Caltex site at <a href="https://www.realcommercial.com.au/property-retail-vic-mount+waverley-502560530" target="_blank">622 – 626 Blackburn Road</a> (picture above) to a private investor for $4.3 million on a low yield of 3.48%. 
The fourth property sold was at <a href="https://www.realcommercial.com.au/property-offices-nsw-wagga+wagga-502547138" target="_blank">72 Baylis Street</a> in Wagga Wagga, New South Wales, tenanted by National Australia Bank. It changed hands for the first time in 25 years, for $2.31 million on a 6.72% yield. 
<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/2017/10/20/NABWagga.jpg" alt="">
The auctions were held at Cushman &amp; Wakefield’s Sydney and Melbourne offices, with the campaign led by Michael Collins.
The auctioneer was Damien Cooley from Cooley Auctions. 
“The result of Cushman &amp; Wakefield’s inaugural portfolio auction delivered a strong outcome for vendors, and reaffirmed the appetite amongst high net worth investors to secure retail properties with strong lease covenants and long-term blue chip tenants,” said Collins.
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Four sites fetch $14.4 million at Cushman & Wakefield's first portfolio auction

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Canberra has seen a steady increase in A-Grade office stock since the move to more environment-friendly buildings started in 2000 and as businesses focus more on lessening their impact on the environment.
This demand for quality space has meant a decline in vacancies and an increase in building refurbishments,  according to Colliers International.
According to PCA data, A-Grade vacancy in Canberra CBD has more than halved in the past 24 months, decreasing from 8% to just 3.2%. 
The Parliamentary Precinct has experienced an even bigger drop over the same period, from 13.1% to just 1%. This is resulting in rental rate increases and a decline in incentives.
A younger generation joining the workforce also means changing needs and is also impacting tenants’ choice of office location and quality.
Michael Ceacis, director of Office Leasing at Colliers International said that with tenants seeking better offices but with limited new supply, there has been a spike in the number of buildings being refurbished. 
“Landlords are looking to attract tenants to older buildings by undertaking extensive building refurbishments. Building upgrades are not limited to modernising their buildings, but focus on improving building amenity, increasing building performance to make tenants more comfortable, lowering tenancy costs and decreasing a building’s environmental footprint.”
“Where this is most evident is in the CBD and Parliamentary Precinct,” he added.
Colliers International data shows that by 2020, Canberra’s CBD will have two new office buildings completed, injecting a total of approximately 30,000 sqm of A-Grade office space into the market. 
“We have no doubt that these new buildings will quickly attract quality tenants seeking to upgrade from lower grade office accommodation,” Michael said.
“We’ve seen a significant drop in A-Grade vacancy over the past couple of years and with limited stock coming to market, we expect this to have greater impact on B-Grade stock levels over the next couple of years.”
PCA data reveals only a slight drop in Canberra vacancy in the past 24 months from 13.4% to 12.8% in the CBD and 15.3% to 12.3% respectively in the Parliamentary Precinct. 
“The trends we’re seeing in the market, combined with our knowledge of stock being refurbished and new buildings being built, we expect to see an increase in overall vacancy in the Canberra market by 2020.” 
According to Colliers, A-Grade stock will still be in high demand and with vacancies remaining low, tenants will either be forced to stay put or look to occupy higher quality or refurbished B-Grade stock.   
“Majority of vacancy will be in B-Grade or lower, and this is partly due to the Department of Immigration and Border Protection vacating space buildings in the CBD,” he said.
The Parliamentary Precinct A-Grade vacancy is expected to tighten even further and the impact on overall vacancy in the precinct could reach as low as 5%, says Colliers.
“The outlook for the Belconnen Town Centre is not expected to change with larger tenants likely to remain. Conversely, some work needs to be done to make Woden and Tuggeranong more attractive to tenants which will benefit businesses located in those town centres,” said Michael.
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Demand for quality space in Canberra's office market sees vacancy decline: Colliers

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A boutique yoghurt bar has agreed terms on a new lease on Richmond’s popular Swan Street retail strip.
The <a href="https://www.realcommercial.com.au/property-retail-vic-richmond-502419430" target="_blank">186 Swan Street</a> shop spanning 89 sqm was let at more than $55,000 per annum net on a five-year term with options. 
The new business will replace a hair dressing salon.
The leasing agents were Teska Carson’s Jack Kelliher and Fergus Evans.
“The deal underlines the value of a main street address on a well-known avenue within a popular city fringe locality,” said Kelliher.
The strip has strong foot traffic and is close to public transport.
Evans added that the Swan Street strip had become very popular among food retailers with several relatively recent entrants including Doughnut Time and Hunky Dory Fish and Burger Bar.
 
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