A new 25-storey apartment tower proposed for Mercer Street would push Geelong’s western gateway skyline higher, with Morphy Birrell Property Group lodging plans for a project directly beside one of the city’s most significant heritage streetscapes.

The <a href="https://www.apartments.com.au/architects/fk-australia">FK</a>-designed development at <a href="https://www.apartments.com.au/new-apartments/65-67-mercer-street-geelong-vic-3220">65-67 Mercer Street</a> has now been referred to Victoria’s Planning Minister. The site sits opposite the Geelong rail corridor and immediately south of the heritage-listed St Peter and Paul’s Catholic Church and Ashby Hall precinct.

Rather than compete with the neighbouring ecclesiastical buildings, the proposal adopts a sculpted podium intended to reference the materiality and scale of the heritage context. Planning documents note the design draws cues from the “dark stone brick” church and surrounding masonry buildings, while the tower above transitions into a softer, curved form oriented toward Corio Bay and the Geelong waterfront.

<img alt="First look: Morphy Birrell Property Group targets 25-storey Geelong tower beside landmark church precinct" data-entity-type="file" data-entity-uuid="b797d10c-d4a6-47af-b8df-1aeaa3b382be" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/public%20square.png?VersionId=QGIpcz1x1hKB6lQLl2iobyHqb6PS2Ztc" />

The development forms “Stage 5” of Morphy Birrell Property Group’s broader Mercer Street precinct strategy, following the completion of the 21-storey Miramar tower on Cavendish Street and several additional approved redevelopment stages nearby. Planning consultants Ratio said the proposal “represents an exemplary development outcome” aligned with the strategic ambitions for Central Geelong’s continued urban renewal.

The mixed-use project would replace an existing low-rise commercial building and surface parking area on the 3,320 sqm corner site. FK’s urban context report describes the proposal as a residential development comprising apartments, resident amenities, commercial space, and integrated landscaping positioned to maximise bay views and northern sunlight access.

Renders show a deeply articulated tower with curved balconies stepping above a lower masonry podium that frames a landscaped forecourt facing Mercer Street. The design intentionally preserves sightlines toward the adjacent church buildings, with the podium scaled to reinforce the heritage edge before the tower recedes upward.

<img alt="First look: Morphy Birrell Property Group targets 25-storey Geelong tower beside landmark church precinct" data-entity-type="file" data-entity-uuid="2bdca91e-66f7-4ac7-8baa-2f93bd5b564e" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/geelong%20site.png?VersionId=QOhbino4ZgzKYw5dW3QE14E.2yq.Sv87" />

The planning report highlights the site’s strategic location within 400 metres of key Geelong destinations including Cunningham Pier, the Geelong Station precinct, Deakin University, and the convention centre. Bus services run directly along Mercer Street, while the Corio Bay foreshore sits around 100 metres north of the site.

The proposal arrives amid accelerating redevelopment across central Geelong, where planning policy continues to encourage higher-density housing close to transport infrastructure and the waterfront. Mercer Street in particular has emerged as a focal point for taller apartment development due to its proximity to Geelong Station, the bay, and major civic infrastructure.

Joel Robinson

Morphy Birrell Property Group targets 25-storey Geelong tower beside landmark church precinct

Development giant&nbsp;<a href="https://www.apartments.com.au/developers/hamton">Hamton</a> and joint venture partner Hostplus have revealed the next residential stage of their $3 billion Moonee Valley Park masterplan, lodging plans for 512 more apartments within the precinct on surplus racecourse land at 110 Wilson Street, Moonee Ponds.

The proposed development, dubbed&nbsp;<a href="https://www.apartments.com.au/new-apartments/trackside-house-110-wilson-street-moonee-ponds-vic-3039">Trackside Gardens</a>&nbsp;in the planning application, follows the <a href="https://www.apartments.com.au/news/vic/first-look-exclusive-hamton-and-hostplus-reveal-sixth-stage-of-moonee-valley-park-masterplan">recent unveiling of the sixth-stage Cox Place Precinct</a> and continues the long-running transformation of the Moonee Valley Racecourse into one of Melbourne’s largest urban renewal projects.

Positioned on the north-eastern edge of the racecourse adjacent to CityLink, Trackside Gardens will comprise three residential buildings rising between 61.8 metres and 86.4 metres within a heavily landscaped precinct shaped by Hamton’s Nature Based Cities framework.

The project forms part of the broader Moonee Valley Park redevelopment being delivered by Hamton, Hostplus and the Moonee Valley Racing Club, which is reshaping the 40-hectare racecourse site into a mixed-use neighbourhood with housing, retail, commercial space, hotels, parkland and community infrastructure.

Trackside Gardens sits separately to the recently proposed Cox Place Precinct, a five-building stage comprising around 1,100 residences, two build-to-rent buildings, two build-to-sell towers, retail, office space, and a hotel overlooking the racetrack. Together, the projects continue to accelerate housing delivery across the precinct.

<img alt="First look: Hamton expands Moonee Valley Park masterplan with 512-home Trackside Gardens precinct" data-entity-type="file" data-entity-uuid="5fc1941e-52d3-41c6-abc4-0f13fe8ae5ea" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/DA%20Edits%20%281%29.png?VersionId=7qwRHq5dcvXWNot2hNOgoQhN2GIWudNK" />

Designed by <a href="https://www.apartments.com.au/architects/dko-architecture">DKO Architecture</a> with landscape architecture by Tract, Trackside Gardens has been conceived as a botanical-style residential precinct prioritising canopy planting, communal green space, and vertical landscaping.

“The architectural vision for the proposed development centres around buildings in a botanical park setting that champions the important role of nature,” the planning submission states.

“The proposal incorporates principles of biophilic design, with landscape and environmentally sustainable development influencing the ultimate design response of the buildings and prioritising the ground plane to ensure a high amenity for both occupants and visitors.”&nbsp;

Trackside Gardens will deliver 512 apartments across the three buildings, alongside 518 basement car spaces and 523 bicycle spaces. Around 20 per cent affordable housing is proposed across the broader North East Precinct, equating to around 158 dwellings.&nbsp;

The affordable housing component will be concentrated within the Wilson East building, while the remaining apartments are expected to be delivered as build-to-sell residences.

Trackside Gardens has been designed around Hamton’s Nature Based Cities initiative, founded by Executive Chair Paul Hameister OAM in partnership with the University of Melbourne, Urbis, Ark Resources and Tract. The initiative promotes integrating higher-density urban development with significant biodiversity, tree canopy and landscape outcomes.

<img alt="First look: Hamton expands Moonee Valley Park masterplan with 512-home Trackside Gardens precinct" data-entity-type="file" data-entity-uuid="89353449-7b3c-42fd-8fd8-8bf64a5ef80f" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Article%20Feature%20Image%20%28Grid%29_4.png?VersionId=X8jRt0P2L7fIWjLhfX6gPknXToXIBeLj" />

A comprehensive landscape strategy would introduce deep soil planting, vertical greening, communal gardens, and new pedestrian links throughout the site.

Planning documents state the development is targeting a 5 Star Green Star Buildings rating, a 7.5-star average NatHERS rating, and “Exemplary” Nature Based Cities certification.&nbsp;

The proposal joins an expanding pipeline of approved and proposed buildings within Moonee Valley Park, including the recently launched Eveline apartments and the approved Grandstand North and South towers.

Hamton has increasingly focused on precinct-scale, nature-led communities across Melbourne’s middle-ring suburbs, with projects spanning Hawthorn, Kew, and Moonee Ponds.

Hampton unveils Trackside Gardens, latest stage of $3 billion Moonee Valley Park masterplan

The Paul Gedoun-led <a href="https://www.apartments.com.au/developers/ss-projects">S&amp;S Group</a> has achieved another milestone in its $1 billion transformation of Rainbow Bay on the southern Gold Coast with the completion of the company’s third project in four years, the $160 million <a href="https://www.apartments.com.au/buildings/esprit-217-227-boundary-street-coolangatta-qld-4225">Esprit</a> residences.

Delivered by <a href="https://www.apartments.com.au/builders/hutchinson-builders">Hutchinson Builders</a> and designed by <a href="https://www.apartments.com.au/architects/cottee-parker-architects">Cottee Parker Architects</a>, Esprit buyers have now moved into the 94 apartments across two interconnected buildings at 217-227 Boundary Street.

The successful settlement of Esprit marks another astounding chapter in the S&amp;S story, which launched its highly successful Flow apartments three years ago and created its own ultra-luxury branded fingerprint on an area craving new luxury residences.

Most early purchasers have secured gains of well over $1 million since the project launched in 2021.&nbsp;

[smartcode_project:default project_id=102921 project_image_fid=172129]

S&amp;S Projects Founding Director Paul Gedoun said the completion of Esprit reflects sustained demand for premium apartments in tightly held coastal locations.&nbsp; 
&nbsp;&nbsp; &nbsp; 
“Esprit has attracted buyers seeking a combination of quality design, considered amenity and a location that is becoming increasingly difficult to replicate,” said Gedoun.

“We identified some years ago that Rainbow Bay is a unique market where supply of luxury residences is limited, and we see the settlements in Esprit further underpinning this thinking - that for both owner-occupiers and investors.”&nbsp;

[smartcode_project:default project_id=102921 project_image_fid=172174]

A key feature of the development is ‘Club Esprit’, a 1,000sqm residents-only rooftop level combining wellness and recreation, believed to be a first for the Gold Coast, and which is fast becoming a signature of the S&amp;S brand.

Positioned to capture views across Snapper Rocks, Rainbow Bay and the Tweed River, the rooftop includes a 25-metre lap pool, gym, yoga lawn, sauna and steam facilities, ice bath, private dining spaces, outdoor cinema and landscaped areas for residents.&nbsp;

<a href="https://www.apartments.com.au/project-marketer/pezet-matheson">Pezet Matheson</a> Director Jayde Pezet, who led the sales campaign for Esprit and S&amp;S’s Flow and Awaken apartments, said the project’s performance reflects both the strength of the product and the depth of demand for premium apartments on the southern Gold Coast.&nbsp;

“In some cases, we’ve seen values double since launch, which is a clear reflection of how tightly held Rainbow Bay has become and the level of demand for well-executed projects in this market,” said Pezet.&nbsp;

“Buyers recognised early what S&amp;S Projects was delivering here, and that conviction has been rewarded as the project has progressed towards completion.”&nbsp;

[smartcode_project:default project_id=102921 project_image_fid=214819]

Esprit offers a mix of two- three and four-bedroom apartments and sits within walking distance of the beachfront, cafés and local amenities, reinforcing its appeal as both a lifestyle and investment destination.

The project is the third completed by S&amp;S Projects in Rainbow Bay, following Flow Residences and Awaken Residences, which together have contributed to the suburb’s emergence as one of the Gold Coast’s most sought-after coastal pockets. &nbsp;

S&amp;S Projects is continuing its investment in the area with Radia, a $215 million development currently under construction.&nbsp;

[smartcode_project:default project_id=102921 project_image_fid=172175]

Gedoun said the completion of Esprit signals continued confidence in the southern Gold Coast market.&nbsp;

“We’ve seen strong interest in well-located, high-quality apartments, particularly in areas where future development opportunities are limited."

“That’s been a key factor in the performance of Esprit and the broader Rainbow Bay market”.

[smartcode_project_cta:default project_id=102921]

Owners move in as Esprit completes at Rainbow Bay

Few developers can boast a portfolio across South East Queensland's luxury markets quite like <a href="https://www.apartments.com.au/developers/mosaic-property-group">Mosaic Property Group</a>.

The builder-developer, founded in 2004 by Managing Director Brook Monahan, has projects in planning, on the market, and under construction, from Burleigh Heads and Broadbeach to Kangaroo Point and South Brisbane.

With a pipeline exceeding $2 billion, Mosaic remains highly selective when it comes to development sites, having spent years refining its strategy around feasibility research and product planning. The group is set to continue growing into 2026 and beyond.

In Brisbane, Mosaic currently has three projects in the market. It is in the final release stage at <a href="https://www.apartments.com.au/new-apartments/the-bedford-by-mosaic-16-30-prospect-street-kangaroo-point-qld-4169">The Bedford</a> in Kangaroo Point, which is approaching complete sellout ahead of its late 2027 completion.

[smartcode_project:default project_id=134792 project_image_fid=328123]

Designed in collaboration with <a href="https://www.apartments.com.au/architects/bda-architecture">BDA Architecture</a>, The Bedford comprises 128 two- and three-bedroom residences. A selection of ultra-luxury Masterpiece Series Skyhomes, positioned across the top levels, offer expansive floor plans and sweeping views of the river and city.

High-end inclusions, such as natural stone benchtops, bespoke cabinetry, and Miele appliances, feature throughout all apartments, alongside the Rooftop Recreation &amp; Retreat Sky Terrace. This includes a resort-style pool with sun deck and loungers, spa, cold plunge pool, sauna, steam room, private dining room with a full kitchen, residents' lounge, multiple barbeque and relaxation zones, an outdoor viewing deck, and landscaped gardens with water features, all oriented to sweeping city and river views.

A gym with indoor and outdoor zones, and a golf simulator, further enhances recreational choice within the building.

[smartcode_project:default project_id=134792 project_image_fid=328119]

A defining feature of the development is its integrated mixed-use component, which will deliver Kangaroo Point's first major supermarket, alongside a café and liquor store, bringing long-awaited convenience to the peninsula.

Monahan says The Bedford represents the culmination of a near-decade-long journey, after first identifying the A-grade Prospect Street site in 2016. While they came close to acquiring it at the time, the site was ultimately purchased by Woolworths' development arm, Fabcot. The opportunity resurfaced in 2024 when the site, vacant for nearly three decades, was brought back to market.

Monahan says Mosaic projects often begin years before any formal plans are drawn. Their new South Brisbane development is no exception, with the site first earmarked in 2018.

"We aren't opportunistic," Monahan says. "Every site purchase is carefully considered. As seen with Kangaroo Point and South Brisbane, it can take years to eventuate. There are sites we're looking at now that we may not secure for several years."

[smartcode_project:default project_id=141711 project_image_fid=353495]

A similar story unfolded at <a href="https://www.apartments.com.au/new-apartments/the-carter-by-mosaic-77-linton-street-kangaroo-point-qld-4169">The Carter</a> in Kangaroo Point, opposite The Gabba. Like The Bedford, it is also approaching sellout of its 125 two- and three-bedroom apartments. The majority of sales are attributed to returning customers and referrals, with a balanced mix of investors and a strong majority of owner-occupiers.

BDA Architecture was again engaged to design the 22-storey building, which will feature a suite of wellness and lifestyle amenities, including a golf simulator and cinema, a commercial-grade gym, and a rooftop recreation level with a pool, steam room, sauna, cold plunge, teppanyaki bar, private dining spaces, and landscaped terraces.

Construction is on track for completion in mid-2027.

[smartcode_project:default project_id=151614 project_image_fid=362759]

Mosaic's latest offering is its most ambitious yet, boasting a rare, north-facing riverfront position on Montague Road in South Brisbane.

<a href="https://www.apartments.com.au/new-apartments/the-riversdale-by-mosaic-south-brisbane-91-montague-road-south-brisbane-qld-4101">The Riversdale by Mosaic</a> is a 39-storey tower comprising just over 200 residences and Masterpiece Series Sky Homes. Designed in partnership with Bureau Proberts, it will feature nearly 3,000 sqm of genuine, internationally benchmarked six-star, hotel-style amenities, including a wellness precinct, pool, gym, massage and treatment rooms, cinema, golf simulator, and extensive outdoor dining areas across a two-level rooftop deck.

Early works are underway, with full construction expected to commence in the second half of 2026, and an anticipated late 2029 completion.

[smartcode_project:default project_id=151614 project_image_fid=362759]

Since 2012 alone, Mosaic has completed more than $2 billion in projects and is set to deliver another $2 billion worth of developments, comprising hundreds of luxury apartments, each defined by Mosaic's signature standards of quality, detail, and delivery.

"We never arrive, there is no finish line," says Monahan. "Our ambition is to keep evolving what luxury means, creating design- and lifestyle-led residences in incredible locations, places people genuinely aspire to and want to live, homes that are loved deeply and endure long beyond their moment."

Mosaic's Midas Touch

<a href="https://www.apartments.com.au/developers/urban-property-group">Urban Property Group</a> (Urban) has broken ground at Keira Place, its new major mixed-use residential precinct in the heart of Wollongong CBD.

Held at 120-122 Smith Street, the groundbreaking marked the commencement of construction on Stage 1 of <a href="https://www.apartments.com.au/new-apartments/keira-place-120-122-smith-street-wollongong-nsw-2500">Keira Place</a>, with the opening of the new display suite. 
&nbsp; 
Keira Place is a State Significant Development that will deliver new housing supply, affordable homes and inclusive living options within walking distance of Wollongong’s CBD, coastline, transport, hospital and education precincts.

[smartcode_project:default project_id=144442 project_image_fid=369868] 
&nbsp; 
Stage 1 is now under construction and will deliver 150 apartments across two residential buildings, including 27 affordable housing apartments and 18 specialist disability accommodation dwellings, along with activated ground-floor retail and commercial space. 
&nbsp; 
Urban Co-CEO Patrick Elias said the groundbreaking represented a significant milestone for Wollongong and reflected Urban’s long-term commitment to regional cities.

“Today’s groundbreaking is about turning approvals into homes and moving quickly to deliver much-needed housing in Wollongong’s city centre,” Elias said. 
&nbsp; 
“Keira Place will provide a diverse mix of homes close to jobs, transport and services, while setting a high benchmark for quality, durability and consumer protection.”

[smartcode_project:default project_id=144442 project_image_fid=369869] 
&nbsp; 
Hon. Paul Scully MP, Minister for Planning and Public Spaces, Member for Wollongong said Keira Place is exactly the kind of development Wollongong needs – delivering new homes close to transport, employment and services, while supporting the continued growth and renewal of the CBD.

"This project reflects the Minns Labor Government's commitment to increasing housing supply in well-located areas." 
&nbsp; 
Wollongong Lord Mayor Cr Tania Brown said Keira Place would deliver lasting community benefits for the city. 
&nbsp; 
"Keira Place is a welcome addition to Wollongong's CBD delivering new housing, affordable homes and activated street-level spaces that will benefit our community for years to come," Brown said. 
&nbsp; 
"Urban Property Group's investment reflects the confidence that quality developers have in Wollongong's future, and I look forward to seeing this precinct come to life."

[smartcode_project:default project_id=144442 project_image_fid=369867] 
&nbsp; 
Designed by <a href="https://www.apartments.com.au/architects/cox-architecture">Cox Architecture</a>, with interiors by <a href="https://www.apartments.com.au/interior-designers/dko">DKO,</a> Keira Place prioritises liveability and long-term performance, with landscaped shared spaces, generous apartment layouts and a pedestrian-friendly streetscape along Smith Street. 
&nbsp; 
Residents will have access to landscaped podium areas, communal rooftop amenities with views to Mount Keira and the Wollongong skyline, and convenient ground-level retail.

The development will have 10-year Latent Defects Insurance by Resilience Insurance.

[smartcode_project_cta:default project_id=144442]

Groundbreaking marks start of construction at Keira Place in Wollongong CBD

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 property in the Mid North Coast of New South Wales, Woolgoolga, has been listed for sale.
Located at <a href="https://www.realestate.com.au/property-house-nsw-woolgoolga-126118970" target="_blank">Shops 1 &amp; 2 16 Market Street</a>, the property has prime exposure as a new commercial property and is close to the beach.
Its current original tenant is called Rustic Mezedes and is a well-known Woopi institution serving quality cuisine.
The restaurant is under two titles.
The property has been marketed as ideal for a self-managed superfund or an investor looking for a long-term asset.
There is a 10-year lease in place since 2014 with further options for two extensions of five years each.
The property earns $79,354 including GST annually with a gross return of over 6.6%.
It has a separate storeroom and other amenities.
There is also an adjoining car park with six separate apartments under the existing strata.
The outgoings are 60% of the lettable area ground floor with the tenant paying everything.
The listing agent is Mark Killian of Cardow Partners Property.
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j.ballantyne1990-6AQqhLzZaK

Prime Woolgoolga retail property listed for sale

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An office building with Telstra as anchor tenant in Sydney CBD has been listed for sale. 
The 100% freehold interest at <a href="https://jagonal.com.au/office/building/NSW/Sydney/Sydney-CBD/Southern-CBD/Telstra-House#gallery" target="_blank">231 Elizabeth Street</a> comprises 15 levels of office space and two ground-floor retail areas.
The property is being marketed by Colliers International’s Vince Kernahan, James Barber and James Girvan and JLL’s Rob Sewell, Simon Storry and Paul Noonan on behalf of Glory Property II Investment Pty as The Trustee for Glory Property II Investment Trust. 
“The building’s prominent Hyde Park location, large efficient floor plates together with the repositioning opportunities will ensure strong participation from both local and off-shore capital,” Simon Storry said.
He added that leasing demand was above average over the past four years in the Sydney CBD, and this combined with the large portion of office withdrawals over the past 18 months has resulted in the vacancy rate trending down to 6.4% - the lowest level since 2008.
Colliers’ Vince Kernahan said the 2,300 sqm ‘A’ grade building would appeal to both investors and long-term developers because of the sound cash flow from one of Australia’s largest publicly listed companies (Telstra) and its location overlooking Hyde Park and the Sydney Harbour.
<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/2017/08/29/Telstra2.jpg" alt="">
231 Elizabeth Street is on the corner of Elizabeth Street, Bathurst Street and Castlereagh Street, and offers direct undercover access to Museum Railway Station.
The property was completed in 1987, and underwent an $18 million refurbishment in 2010
The property is being sold through expressions of interest closing in late October.
The Singapore-based Chinese investment house Bright Ruby purchased 231 Elizabeth Street in 2013 from Investa Property Group and its main wholesale office fund, ICPF, added The Australian.
The tower could win bids around the $350 million mark from both offshore and local developers.
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jonathanchancellor-7SQnKwU6yx

Telstra House in Sydney’s Elizabeth Street offered for sale 

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The iconic Stanthorpe estate on St Kilda Hill, which was built in 1874 for Scotland-born merchant Andrew Sutherland, has been listed for sale.
Also known as Stafford House and The Manse, the double-storey mansion on a 2880 sqm Barkly Street parcel has in recent years been occupied as offices.
The arched entrance hall with Ferguson &amp; Urie stained glass window still has the Sutherland family crest.
An St Kilda commercial property has been listed for sale.
Located at <a href="https://www.realcommercial.com.au/property-offices-vic-st+kilda-502518158" target="_blank">42 Barkly Street</a>, the 1814 sqm property is currently a commercial zone 1 landholding.
There is off-street parking for 25 plus cars as well as access via St Kilda Road.
The property has a wide variety of potential including owner occupier, corporate or organisation headquarters, medical offices, gallery or hospitality or residential (STCA).
 
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jrobinson-rf4aSBido9

Stanthorpe estate on St Kilda Hill listed

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A modern office building in Melbourne’s inner eastern suburb of Cremorne (Richmond) has sold at auction for $1.81 million through Teska Carson.
Located at <a href="https://www.realcommercial.com.au/property-retail-vic-richmond-502461878" target="_blank">33 Dover Street</a>, about two kilometres from Melbourne’s CBD, the property comprises a 352 sqm three-level office building with a courtyard and city views.
The building covers the entire 130 square metre site, and is close to shops and public transport.
Selling agents, Teska Carson’s Tom Maule and Matthew Feld, said the property sold well above the reserve price.
"This is an outstanding three storey office providing buyers with multiple options based on a flexible ground floor layout which could be partially or fully turned to warehouse or office uses," Maule said.
 The property was sold with vacant possession by a Melbourne based investor and the buyer was an owner occupier.
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Occupier pays $1.81m for Cremorne office

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The Blue Lady Tattoo Parlour will be carving tattoos from its new leased space in the Melbourne CBD.
The leased space is on the first level of <a href="https://www.realcommercial.com.au/property-retail-vic-melbourne-501367339" target="_blank">67-73 Hardware Lane</a>. It spans 102 sqm.
The three-year lease with options for two further three-year options commenced at an annual rental of $55,000 plus GST.
The shop is operating with seven artists working on a seven-day a week opening basis from 11.30 until 8 pm.
<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/2017/08/28/HardwareLane.jpg" alt="">
The deal was negotiated by Gray Johnson agent Rory White.
The tenancy offer was inclusive of an introductory two months rent-free period.
“Hardware Lane is noted for its restaurant and bar outlets close to major city legal and business offices so this tenancy adds a new service dimension to an activity precinct,” White said.
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High-end tattoo parlour takes lease in Melbourne CBD

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A site spanning more than 5.057 hectares was recently snapped by a local developer for $2,400,000.
Located at <a href="https://www.realcommercial.com.au/property-land+development-vic-langwarrin-502253514" target="_blank">620 McClelland Drive, Langwarrin</a>, the property comprises a building and is zone Public Use.
Its area is 1,565 sqm with a frontage of 274 metres to McClelland Drive.
This sale price translates to a building rate of $1,533.55 per sqm.
The site is located less than 6 km from the Frankston foreshore and is close to the Penninsula Private Hospital, Karingal Hub Shopping Centre and the Elisabeth Murdoch College.
The selling agents were Craig McKellar and Seamus Bolst of CVA.
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Five hectare Langwarrin site sold for $2.4 million

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A 1930s red brick building with sandstone detail in greater Hobart has sold for $910,000 at auction.
The four-bedroom house at <a href="https://www.realestate.com.au/property-house-tas-bellerive-126060878" target="_blank">13 Cambridge Road, Bellerive</a> was built in circa 1930 to replace the adjacent old Police Station.
The building demonstrates the characteristics of a two storey inter-war Gothic Government building, according to its description.
It features double hung windows, parapeted gables and lintels over the windows.
It is currently zoned General Business.
The building area is 199 sqm and it sits on a land area of 458 sqm.
The selling agents were Candice Gottschalk and Greg Gottschalk of Harcourts.
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1930s building in Hobart fetches $910,000 at auction

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Australian Pub Fund are listing the inner-western Sydney hotel Vic on the Park in Marrickville.
The 1247sqm, multi-storey hotel on Addison Rd, Marrickville will be sold by Ray White and CBRE via an international expressions of interest campaign closing 27 September 2017. 
Ray White Asia Pacific Director Andrew Jolliffe said in terms of Sydney's surging Inner West, a revenue producing commercial property holding situated upon in excess of 1200sqm is both rare and attractive.
"Stapled to the underwritten nature of the commercial property value, is the investor magnetism proffered by the hotel's unmistakably robust cash flow, which has been a key component of the business' complexion for many, many years" he said.
Speaking on behalf of the vendor APF, Director Matthew Beach confirmed the continuation of the fund's plan to recycle equity via exiting strategic hotel investments.
"We are by nature and in practice, a private equity fund; and as such it is incumbent upon us as the fund's custodians to manage assets in and out of our property portfolios when appropriate," he said.
"We did this successfully at the beginning of the year with the Marlborough, Kinselas and Toxteth Hotel in Newtown, Surry Hills and Glebe respectively; and similarly, we are now planning to do the same with the Vic on the Park."
Andrew Gibbs, APF CEO said the Vic on the Park Hotel operates as an important member of the broader Inner West community.
"And in doing so, the hotel and its business model has periodically morphed to accommodate the needs of the surrounding area," he said.
"The size of the property and the diverse revenue streams will continue tomake the Vic a very good business for both patrons and its future owners " he concluded.
Daniel Dragicevich, director of CBRE Hotels said the appetite for A-grade freehold hotels, particularly in mature Sydney suburbs such as Marrickville, continues to enjoy considerable depth.
"We've seen some significant sales transpire this calendar year in both Sydney and Brisbane, and the long term fundamentals remain positive for irreplaceable properties such as the Vic on the Park" he said.
"As an area, Sydney's Inner West has enjoyed the benefit of property value augmentation over the past decade, and will now begin to see the benefit of considerable State Government funded investment into proximate infrastructure projects.
"This all points to very meaningful long term prospects from both a land and business value perspective; and means the Vic on the Park is strategically well placed to be able to take advantage of the very clear growth prospects for Marrickville and its surrounding suburbs.
"The Vic on the Park has become an Inner West institution, and we expect very strong buyer interest for its truly compelling fundamentals.
"The venue already exhibits very large and well balanced cash flows.
Post the proposed sale of the Vic on the Park hotel, the Australian Pub Fund will own and operate three freehold hotels; including Balmain's Unity Hall, and Brisbane's The Elephant and Exchange hotels.
 
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Sydney's Vic on the Park hotel on the market

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Evidence that the Perth market has bottomed, after four tough years, is growing.
A market recovery is under way and one of the locations leading the revival is the City of Wanneroo in the north of the metro area.
Strong population growth is propelling the Wanneroo LGA away from its past as a remote, bushy area towards becoming a busy seaside city destined to house 363,000 residents. Over the past decade, 177,000 new residents have moved there, making it the fastest-growing LGA in Western Australia.
Its popularity with young families is evident too. Sales numbers have been rising and this earned Wanneroo a special mention in Hotspotting’s 2017 Winter Edition of the Price Predictor Index. At a time when few Perth suburbs have rising sales activity, several locations in the City of Wanneroo are showing signs of returning to growth.
Growing industrial areas are providing employment opportunities and with houses in most suburbs priced in the $300,000s and $400,000s, the City of Wanneroo is worthy of attention by investors.
Wanneroo is a rapidly-expanding LGA on the northern fringe of the Perth metropolitan area, located about 12km from the Perth CBD at its nearest point and 62km at its furthest point.
Perth’s next major Strategic Metropolitan Centre at Yanchep is currently being developed. Until the early 2000s, much of this area was unpopulated bushland.
The LGA’s main commercial and residential town centres are located at Wanneroo and Clarkson.
Other urban centres are planned at Alkimos, Yanchep and Two Rocks, with the largest retail centre being Wanneroo Cenral.
The Wanneroo region has natural attractions, mainly the beaches, but it is also home to the Yanchep and Neerabup National Park, Yellagonga Regional Park. and Lake Joondalup.
Barbagallo Raceway is a motorsport circuit located in Pinjar. It is renowned for the annual Supercar Championships which attract around 50,000 visitors over three days.
The City of Wanneroo has come to Hotspotting’s attention because of rising sales activity in several suburbs at a time when Perth’s market generally has been weak.
Wanneroo is one of four Perth precincts that are beginning to demonstrate a turnaround in the Perth housing market. Of the four, Wanneroo is the standout location, providing growth markets such as Alkimos, Carramar, Clarkson and Yanchep.
Alkimos is a newly-emerging suburb, having had a population of only 700 at the 2011 Census. The population is now 6,000. As with Yanchep, Butler and Two Rocks, new land estates are becoming available at Alkimos.
Based on 105 sales in the past year, the median house price at Alkimos is $400,000, with a median yield of 4.7%. Clarkson is the busiest suburb in the Wanneroo LGA with 227 annual sales. It has a median house price of $406,000 and a median rental yield of 4.5%.
Generally, young families dominate the region, searching for affordability amid the new development. Houses priced under $400,000 can be found in Banksia Grove, Girrawheen, Merriwa and Yanchep.
The State Government’s LandCorp and the Satterley Property Group are creating a new beach suburb between Yanchep and Alkimos. The 240ha community, to be known as Allara, has the potential to accommodate 3,400 home sites and a population of 7,500 people in the next 10 years.
Building projections obtained from the City of Wanneroo show that between 2011 and 2036, the suburb of Butler will have 2,800 dwellings added; Clarkson 2,400; Alkimos 11,000, Jindalee 3,200 and Yanchep 8,800.
Investors need to be mindful that vacancy rates are an issue, as is the case right across Perth. I expect this to improve as the WA economy and the Perth property market continue their fightback.
Terry Ryder is the founder of <a href="https://www.hotspotting.com.au/">hotspotting.com.au</a>. You can <a href="mailto:%20%3Cscript%20type='text/javascript'%3E%20%3C!--%20var%20prefix%20=%20'ma'%20+%20'il'%20+%20'to';%20var%20path%20=%20'hr'%20+%20'ef'%20+%20'=';%20var%20addy38821%20=%20'ryder'%20+%20'@';%20addy38821%20=%20addy38821%20+%20'hotspotting'%20+%20'.'%20+%20'com'%20+%20'.'%20+%20'au';%20document.write('%3Ca%20'%20+%20path%20+%20'/''%20+%20prefix%20+%20':'%20+%20addy38821%20+%20'/'%3E');%20document.write(addy38821);%20document.write('%3C//a%3E');%20//--%3E/n%20%3C/script%3E%3Cscript%20type='text/javascript'">email him</a> or follow him on <a href="https://twitter.com/hotspotting">Twitter.</a>
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City of Wanneroo, Perth, leading state's market recovery 

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Victoria has experienced the country’s largest, long-term increase in medium density housing (apartments) in the five years to June 2016.
That is according to the Bankwest Housing Density report which is released today and which provides an analysis of approvals in medium density and low density housing over both the long and the short term, combined with the latest Census 2016 data.
The report reveals the amount of medium density housing in Victoria increased by almost a quarter (24.6%) in the five years to June 2016.
Growth in standalone housing during the same period increased by a little (3.4%), signaling Victoria’s shift towards apartment style living.
Bankwest General Manager Broker Sales Stewart Saunders says the state’s growing population has clearly had an impact on the types of houses found in SA.
“Victoria’s population growth was 10.7% in the five years to June 2016 – the highest of all the states - which will have had undoubted impact on the amount of new homes needed during that period,” said Mr Saunders.
Despite the change in housing levels the report shows a slight, short term decline in the amount of medium density properties being approved, down 1.4% to 32,078 in the 12 months to March 2017.
The report also shows the speed at which Melbourne is growing, even outstripping Sydney.
Melbourne City registered 35,011 medium density approvals in the six years to March 2017, the largest number of approvals of any Australian city.
This was almost two thirds (65.0%) more than Sydney’s inner city which recorded 21,222 new medium density approvals over the same period.
<a href="https://www.propertyobserver.com.au/images/2017/08/16/Screen%20Shot%202017-08-16%20at%201.05.45%20pm.jpg" target="_blank">Click to enlarge</a>
<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/2017/08/16/Screen%20Shot%202017-08-16%20at%201.05.45%20pm.jpg" alt="">
“When we look at the national picture the data paints a picture of a country where, overall, there is a continuing long term trend towards apartment style living,” said Mr Saunders.
“But what is noticeable in the short term analysis is that we see that over the 12 months to March the country has experienced its biggest decline in the proportion of medium density approvals for four years,” Mr Saunders added.
Medium density approvals declined by 6.5% in the 12 months to March to 110,471, down from 118,156 the previous year.
This national decline was largely driven by declines at a state level in Queensland (down 25.6%), and Western Australia (down 27.1%).
Mr Saunders said the annual Housing Density Report had been produced as part of Bankwest’s ongoing commitment to offer insights on economic data, trends and issues of value to its customers, businesses, communities and policy makers.
“Bankwest is committed to helping customers and local businesses achieve what matters, contributing to the development of our communities and being a positive voice in the debate on the future of the economy.”
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