<p>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.</p>

<p>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.</p>

<p>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.</p>

<p><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" /></p>

<p>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.</p>

<p>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.</p>

<p>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.</p>

<p><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" /></p>

<p>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.</p>

<p>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.</p>


Joel Robinson

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

<p>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.</p>

<p>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.</p>

<p>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.</p>

<p>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.</p>

<p>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.</p>

<p><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" /></p>

<p>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.</p>

<p>“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.</p>

<p>“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;</p>

<p>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;</p>

<p>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.</p>

<p>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.</p>

<p><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" /></p>

<p>A comprehensive landscape strategy would introduce deep soil planting, vertical greening, communal gardens, and new pedestrian links throughout the site.</p>

<p>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;</p>

<p>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.</p>

<p>Hamton has increasingly focused on precinct-scale, nature-led communities across Melbourne’s middle-ring suburbs, with projects spanning Hawthorn, Kew, and Moonee Ponds.</p>


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

<p>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.</p>

<p>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.</p>

<p>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.</p>

<p>Most early purchasers have secured gains of well over $1 million since the project launched in 2021.&nbsp;</p>

<p>[smartcode_project:default project_id=102921 project_image_fid=172129]</p>

<p>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;<br />
&nbsp;&nbsp; &nbsp;<br />
“Esprit has attracted buyers seeking a combination of quality design, considered amenity and a location that is becoming increasingly difficult to replicate,” said Gedoun.</p>

<p>“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;</p>

<p>[smartcode_project:default project_id=102921 project_image_fid=172174]</p>

<p>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.</p>

<p>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;</p>

<p><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;</p>

<p>“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;</p>

<p>“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;</p>

<p>[smartcode_project:default project_id=102921 project_image_fid=214819]</p>

<p>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.</p>

<p>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;</p>

<p>S&amp;S Projects is continuing its investment in the area with Radia, a $215 million development currently under construction.&nbsp;</p>

<p>[smartcode_project:default project_id=102921 project_image_fid=172175]</p>

<p>Gedoun said the completion of Esprit signals continued confidence in the southern Gold Coast market.&nbsp;</p>

<p>“We’ve seen strong interest in well-located, high-quality apartments, particularly in areas where future development opportunities are limited."</p>

<p>“That’s been a key factor in the performance of Esprit and the broader Rainbow Bay market”.</p>

<p>[smartcode_project_cta:default project_id=102921]</p>


Owners move in as Esprit completes at Rainbow Bay

<p>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>.</p>

<p>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.</p>

<p>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.</p>

<p>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.</p>

<p>[smartcode_project:default project_id=134792 project_image_fid=328123]</p>

<p>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.</p>

<p>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.</p>

<p>A gym with indoor and outdoor zones, and a golf simulator, further enhances recreational choice within the building.</p>

<p>[smartcode_project:default project_id=134792 project_image_fid=328119]</p>

<p>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.</p>

<p>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.</p>

<p>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.</p>

<p>"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."</p>

<p>[smartcode_project:default project_id=141711 project_image_fid=353495]</p>

<p>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.</p>

<p>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.</p>

<p>Construction is on track for completion in mid-2027.</p>

<p>[smartcode_project:default project_id=151614 project_image_fid=362759]</p>

<p>Mosaic's latest offering is its most ambitious yet, boasting a rare, north-facing riverfront position on Montague Road in South Brisbane.</p>

<p><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.</p>

<p>Early works are underway, with full construction expected to commence in the second half of 2026, and an anticipated late 2029 completion.</p>

<p>[smartcode_project:default project_id=151614 project_image_fid=362759]</p>

<p>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.</p>

<p>"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."</p>


Mosaic's Midas Touch

<p><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.</p>

<p>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.<br />
&nbsp;<br />
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.</p>

<p>[smartcode_project:default project_id=144442 project_image_fid=369868]<br />
&nbsp;<br />
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.<br />
&nbsp;<br />
Urban Co-CEO Patrick Elias said the groundbreaking represented a significant milestone for Wollongong and reflected Urban’s long-term commitment to regional cities.</p>

<p>“Today’s groundbreaking is about turning approvals into homes and moving quickly to deliver much-needed housing in Wollongong’s city centre,” Elias said.<br />
&nbsp;<br />
“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.”</p>

<p>[smartcode_project:default project_id=144442 project_image_fid=369869]<br />
&nbsp;<br />
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.</p>

<p>"This project reflects the Minns Labor Government's commitment to increasing housing supply in well-located areas."<br />
&nbsp;<br />
Wollongong Lord Mayor Cr Tania Brown said Keira Place would deliver lasting community benefits for the city.<br />
&nbsp;<br />
"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.<br />
&nbsp;<br />
"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."</p>

<p>[smartcode_project:default project_id=144442 project_image_fid=369867]<br />
&nbsp;<br />
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.<br />
&nbsp;<br />
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.</p>

<p>The development will have 10-year Latent Defects Insurance by Resilience Insurance.</p>

<p>[smartcode_project_cta:default project_id=144442]</p>


Groundbreaking marks start of construction at Keira Place in Wollongong CBD

<p>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.</p>

<p>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;</p>

<p>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.</p>

<p>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.</p>

<p>Even in the low seasons of May and June, occupancy levels reach around 40 per cent.</p>

<p><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" /></p>

<p>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</p>

<p>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.</p>

<p><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" /></p>

<p>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.<span><span><span><span><span><span><span><span><span><span><span><span><span><span><span><span><span><span><span><span><span><span><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" /></span></span></span></span></span></span></span></span></span></span></span></span></span></span></span></span></span></span></span></span></span></span><span><span><span><span><span><span>​</span></span></span></span></span></span></p>

<p>The apartments will feature modern amenities and contemporary designs with expansive windows capturing sweeping views of The Remarkables mountain range.&nbsp;</p>

<p>Interiors are equipped with modern finishes, premium appliances, and secure electronic key-locked doors, ensuring a comfortable living experience for residents and guests alike.</p>

<p>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;</p>

<p>Queenstown’s sustained demand for visitor accommodation and rental properties is underpinned by a shortage of housing options, attracting both local and international buyers.</p>


Safari Group offers low-touch investment proposition in Queenstown’s popular ski fields district

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<p>A freehold building on Sydney’s Bondi Beach is set to go under the hammer on August 17, making it the third iconic site on the famous beachfront to go to the market in the last 12 months. </p>
<p>The <a href="https://www.domain.com.au/property-profile/134-138-campbell-parade-bondi-beach-nsw-2026" target="_blank">134-138 Campbell Parade</a> property earns a net income of more than $500,000 per annum.</p>
<p>Listing agent Miron Solomons of Colliers International, who is marketing the property along with and Matt Pontey, said they were expecting this to be the “biggest auction of the year – there will be some serious heavy hitters present”. </p>
<p>Market chatter suggests price expectations of about $20 million.</p>
<p>This sale comes to market following two highly successful campaigns of neighbouring assets; Bates Milk Bar at 124 Campbell Parade in September 2016, and 128-132 Campbell Parade in May this year, with the latter breaking the Australian record for the highest price paid per metre for land, according to a media release from Colliers.</p>
<p>The 1951 Bates Milk Bar, one of Bondi Beach's most iconic retail premises, sold for $19.12 million last year to developers of the Pacific Bondi, Rebel Property Group's Allen Linz, Capit.el Group's Eduard Litver along with Gil Baron.</p>
<p>The milk bar was known for its choc-malt milkshakes until its closure in 2001.</p>
<p>“It’s a once in a lifetime opportunity – three buildings in this location, on the Bondi beach front with uninterrupted views – coming to market within 12 months is unheard of. These assets are typically held by local families for 50-60 years each,” added Solomons.</p>
<p>There are also two retail tenancies currently within the building. The current ground floor tenants are Ben and Jerry’s and Ezymart in addition to eight residential units above, said Pontey, adding that they were expecting keen interest from developers and investors due to the flexible mixed use zoning.</p>
<p>“These are solid, diverse income streams with significant development potential that are attracting international interest.”</p>
<p>Solomons says the interest in the past two Bondi sites indicates there is still plenty of appetite for Sydney’s top end ‘trophy’ market.</p>
<p>“Any talk in the media of a downturn in the market has not jilted the momentum for the last two campaigns – we aren’t seeing any negative effects in the trophy, high-end of the market.” </p>
</body></html>

jonathanchancellor-7SQnKwU6yx

Bondi commercial beachfront property hits the market: Colliers

<html><body>
<p>Over the last financial year (2016-2017), CoreLogic found that combined capital city dwelling values increased by 9.6% which was actually greater than the 8.3% rise over the 2015-16 financial year.</p>
<p>According to research analyst Cameron Kusher, combined capital city dwelling values have now increased over five successive financial years however, prior to these increases there were successive financial years in which values fell (-1.4% in 2010-11 and -3.6% in 2011-12).</p>
<p>He said, “Across the individual capital cities the growth story over recent financial years has been vastly different.”</p>
<p>In most capital cities, the rate of value growth over the past financial year was superior to that over the previous year. The exceptions were Brisbane and Darwin. A number of cities recorded their greatest increases in values in a number of years highlighting that the rate of growth has been accelerating.</p>
<p><a href="https://www.propertyobserver.com.au/images/2017/07/14/Screen%20Shot%202017-07-14%20at%2010.15.18%20am.jpg" target="_blank">Click to enlarge</a></p>
<p><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/2017/07/14/Screen%20Shot%202017-07-14%20at%2010.15.18%20am.jpg" alt=""></p>
<p>Mr Kusher said, “Two of the primary factors influencing the rebound in capital gains during the most recent financial year was the increase in investment activity after 2015/16 which saw investment activity slow on the back of changed prudential policies implemented by APRA, as well as successive rate cuts in May and August last year that added further incentive to property buyers.”</p>
<p>With a new round of macroprudential policies announced at the end of March this year, Mr Kusher said, “It’s likely there will be a similar, if not more pronounced slowdown in investment activity across the housing market.”</p>
<p>“Coupled with affordability constraints and higher mortgage rates, we expect the 2017/18 financial year will record a less substantial rate of capital gains that what was seen in 2016/17.”</p>
<p><strong>How the capitals performed over the 2016-2017 financial year: </strong></p>
<p><strong>Sydney </strong>– dwelling values increased by 12.2% over the past year and it was the fifth successive year in which values rose. Value growth was slightly higher than the 11.3% over the previous financial year.</p>
<p><strong>Melbourne </strong>– values have now increased for five successive financial years with each of those years progressively seeing a faster rate of value growth. Over the past year, values increased by 13.7% which was their greatest increase over a financial year since 2009-10.</p>
<p><strong>Brisbane </strong>– a 2.0% increase in values over the past financial year was down on the 5.3% the previous year. Brisbane values have increased over each of the past five years however, last year was the slowest rate of growth since 2012-13.</p>
<p><strong>Adelaide </strong>– the 2.4% rise in values over the past year eclipsed the 2.1% increase the previous year and marked the fifth consecutive financial year in which values increased.</p>
<p><a href="https://www.propertyobserver.com.au/images/2017/07/14/Screen%20Shot%202017-07-14%20at%2010.15.51%20am.jpg" target="_blank">Click to enlarge</a></p>
<p><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/2017/07/14/Screen%20Shot%202017-07-14%20at%2010.15.51%20am.jpg" alt=""></p>
<p><strong>Perth </strong>– dwelling values have fallen over each of the past three financial years however, the rate of decline has slowed from -4.7% in 2015-16 to -1.3% in 2016-17. At no other time over the past 20 years have values fallen over three successive financial years in Perth.</p>
<p><strong>Hobart </strong>– the 6.8% increase in dwelling values over the past financial year was the greatest increase in values over a financial year since they rose by 8.5% in 2005-06.</p>
<p><strong>Darwin </strong>– dwelling values have fallen for three successive financial years. The -7.0% fall in values over the year was the largest annual decline since values fell by -12.6% over the 2010-11 financial year.</p>
<p><strong>Canberra </strong>– values rose by 9.6% over the last financial year which was the greatest rise in values over a financial year since 2009-10 when values increased by 13.3%.</p>
<p><a href="https://www.propertyobserver.com.au/images/2017/07/14/Screen%20Shot%202017-07-14%20at%2010.16.02%20am.jpg" target="_blank">Click to enlarge</a></p>
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How did the capital city housing markets perform over the financial year? Cameron Kusher

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<p>Houses in Newcastle, the New South Wales Central Coast and Coffs Harbour are still at the peak of market, according to valuation firm Herron Todd White’s July property clock.</p>
<p>Houses in those three regions were at the top of HTW's property clock last month.</p>
<p><a href="https://www.propertyobserver.com.au/images/2017/07/13/Screen%20Shot%202017-07-13%20at%208.11.38%20AM.png" target="_blank">Click to enlarge</a></p>
<p><img src="https://www.urban.com.au/images/2017/07/13/Screen%20Shot%202017-07-13%20at%208.11.38%20AM.png" alt=""></p>
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<p>Herron Todd White said finding a property with a lazy $500,000 is becoming increasingly difficult in the NSW Central Coast region as a result of market value increases over the past two years. The analyst firm said There are still some areas where the owner- occupiers and investors are looking to buy at this level and can be accommodated, however the pool of stock is shrinking.</p>
<p>"We think most buys in the housing market will be found in the older suburbs at the northern end of the region," HTW said.</p>
<p>"Some parts of Blue Haven, San Remo, Gorokan, Toukley, Budgewoi and Charmhaven are still offering properties at or below the $500,000 mark.</p>
<p>"These properties are mostly single level, 2- or 3-bedroom bro or brick and tile homes, mostly with garaging on average size blocks of land. If villas or townhouses are being considered, then reasonably priced stock is available within Mardi and Watanobbi.</p>
<p>"The middle of the region includes suburbs like Bateau Bay, Killarney Vale, The Entrance and Long Jetty. While still available, properties with a $500,000 price tag are becoming rare and will mostly be limited to villas, townhouses and units.</p>
<p>"There are a few dwellings seen at this level, however these properties will be older style and most likely in need of renovations or repairs.</p>
<p>"Killarney Vale and Berkeley Vale are good, solid suburbs with equally good facilities.</p>
<p>"There is a good vibe in these locations for younger buyers and families.</p>
<p>"Buys at the $500,000 mark are becoming limited, yet they are still around and it’s our recommendation to look here.</p>
<p>"Expect an older dwelling with 3-bedrooms and room to improve. </p>
<p>"With the Newcastle market running hot for a lengthy period of time, first home buyers and growing families are looking at alternative and cheaper options in outer suburbs and nearby towns. Medowie and Raymond Terrace are two of these areas both around 35 minutes drive from the Newcastle CBD.</p>
<p>"Half a million dollars will get you quite a bit more house and land compared to the inner suburbs of Newcastle and for growing families it is just not practical to live in a 2-bedroom unit when you can get a modern 4-bedroom house on 1000 square metres for the same price.</p>
<p>"Medowie’s two major economy drivers and employers are the nearby airport and RAAF base.</p>
<p>"A current expansion of the RAAF base and the proposed upgrade to an international airport have created more job opportunities and a subsequent high demand for property. The Bower Medowie subdivision which recently opened stage one sold out all 31 lots in 48 hours with some buyers camping out to ensure purchase. "</p>
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Houses in Newcastle, NSW Central Coast and Coffs Harbour still at market peak: HTW

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<p>Centuria Property Funds said its listed office fund, Centuria Metropolitan REIT (ASX: CMA), has bought three commercial properties in Perth and Melbourne for a total of $150 million. </p>
<p>In Perth, Centuria acquired two new commercial assets: <a href="https://www.realcommercial.com.au/property-offices-wa-perth-502267250" target="_blank">The Hatch Building</a> at 144 Sterling Street (above), and 42-46 Colin Street, for a total of $91.8 million. The deals marked the fund manager’s first foray into the Perth office market.</p>
<p>Late in June, Centuria acquired the new Target headquarters at Williams Landing in Melbourne’s western suburbs. Together with the Perth deals, the total value was $150 million and will increase Centuria Capital Group’s (ASX: CNI) entire funds under management to $4.15 billion, it said in a media release.</p>
<p>Earlier this year, Centuria Property Funds sold its commercial office tower in Brisbane’s Spring Hill for $38.7 million to Sentinel Property Group.</p>
<p>“Centuria’s approach is to pay the fee and to take over the management from the agent, freeing them up to work on the next property, which enables us to generate income returns alongside the potential for capital growth,” said CMA trust manager Nicholas Blake.</p>
<p>The two Perth properties are fully 100% leased, with the major occupiers being WA Police, Insurance Australia Group Ltd, and consulting firm Hatch. </p>
<p>“This diverse range of high-quality tenants, from government-owned and listed companies to international firms, means shareholders can feel confident in securing attractive and stable yield,” added Blake.</p>
<p>The combined WALE of the three properties is 6.5 years and their fixed rental reviews sit between 3.25% and 3.75%, Centuria said.</p>
<p>The acquisitions were partially funded by an equity raising of $90 million.</p>
<p>The acquisitions will help REIT’s property portfolio to increase in value by 25% to $760 million. </p>
<p>It will see the trust’s market capitalisation increase from approximately $430 million to more than $520 million, improving its potential for S&amp;P/ASX300 index inclusion (based on securities prices at 12 July 2017). </p>
<p>CMA is also doing the due diligence on a development site in South West Sydney for the construction of an A-Grade commercial office building expected to be valued at around $75 million, it said. </p>
<p>On the Perth acquisitions, Blake said the metro market was beginning to show excellent fundamentals, while AREITs in general are proving attractive to risk-averse investors.</p>
<p>“At CMA, we believe a truly quality property can provide unitholders with returns and yields over time in any market.” </p>
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Centuria REIT buys three office assets in Perth and Melbourne for $150 million

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<p>Over the year to March 2017 Victoria delivered an impressive 66,085 new dwellings, 31,337 of which were attached dwellings of one sort or another.</p>
<p>Yet annual population growth has exploded to +146,600.</p>
<p>In short, you can basically forget any chance of an oversupply in Melbourne until population growth comes down from the stratosphere. </p>
<p>It's not happening, and indeed Melbourne's vacancy rates appear to be approaching decade lows.</p>
<p><a href="https://www.propertyobserver.com.au/images/2017/07/13/A1.jpg" target="_blank">Click to enlarge</a></p>
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<br><div>Different dynamics<br><br>Annual population growth has ramped up in New South Wales too at +116,400.</div>
<div> </div>
<div>But with 64,824 new dwellings delivered over the year this crude ratio has shifted favourably towards the supply side after ten years of relative under-building in Sydney.</div>
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<br><div>With some 82,836 dwellings under construction across New South Wales there's plenty more to come too, in spite of dwelling starts now finally having passed their peak. </div>
<div> </div>
<div>Despite being a more diverse state - as well as being home to traditional boom/bust markets such as the Gold Coast - Queensland has followed a similar pattern. </div>
<div> </div>
<div>The Sunshine State delivered 46,469 dwellings over the year through a period where population growth had slowed dramatically following the peak of resources construction boom in 2012. </div>
<div> </div>
<div>Although population growth has now picked up in Queensland and dwelling starts are apparently slowing to a crawl, it's clear that an oversupply of new dwellings is writ large.</div>
<div> </div>
<div><a href="https://www.propertyobserver.com.au/images/2017/07/13/A3.jpg" target="_blank">Click to enlarge</a></div>
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<div>The number of dwellings under construction has been in decline since September 2016, with 37,624 dwelling units 'live' as at the end of the first quarter of 2017, and new starts have slowed dramatically, so the market is in the process correcting itself.  </div>
<div> </div>
<div>Notably, 28,391 of the dwellings under construction were of the attached variety, reflecting the super-boom in apartment construction up north. </div>
<div> </div>
<div>Of course these models aren't intended to be anything other than a crude dashboard, but are a simple display of the apartment oversupply that faces parts of inner city Brisbane.<br><br>Finally, Western Australia saw the completion of 28,535 dwellings in 2016, yet population growth slowed sharply to 16,835, illustrating what can happen to population growth in an economic slowdown.</div>
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<br>Population growth appears to have bottomed out in WA in line with a number of other indicators, but there is now a clear oversupply of dwelling stock to be absorbed. </div>
<div> </div>
<div>
<p class="p1"><span class="s1">PETE WARGENT is the co-founder of <a href="https://allenwargent.com/" target="_blank"><span class="s2">AllenWargent</span></a> property buyers (London, Sydney) and a best-selling author and <a href="https://petewargent.blogspot.com/" target="_blank"><span class="s2">blogger</span></a>.</span></p>
<p class="p2"><span class="s3"><em>His latest book is </em><a href="https://www.bigskypublishing.com.au/Books/General-Interest/Four-Green-Houses--and-a-Red-Hotel/1015/productview.aspx" target="_blank"><span class="s2"><em>Four Green Houses and a Red Hotel</em></span></a><em>.</em></span></p>
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pwargent-M4siyDbqQY

Forget any chance of an oversupply in Melbourne dwellings: Pete Wargent

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<p>The distant beating of jungle drums is getting just that bit harder to ignore as the Australian economy continues to pick up the pace.  </p>
<p>It's true that the much stronger jobs figures seen in 2017 are a lagging indicator, but job vacancies surveys are pointing to good things ahead.</p>
<p>And now the timely business survey from National Australia Bank (NAB) is turning north towards further gains.</p>
<p>The reading for business confidence rose to +9, in June 2017 well ahead of the long run average of +6.</p>
<p>And business conditions have stormed to +15, which is the highest reading in 9 years and follows the other key measure of conditions already reported. </p>
<p>The long run average reading for the series is +5. </p>
<p>Granted things promptly got worse last time we reached these heights, but this survey now sits a world away from the stuttering results of 2014.</p>
<p><a href="https://www.propertyobserver.com.au/images/2017/07/13/Nab1.jpg" target="_blank">Click to enlarge</a></p>
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<br><div><em><span style="text-decoration: underline;">Source: NAB</span></em></div>
<br><div>Conditions looked relatively upbeat across all industries except for mining, with even retail turning in a much improved result. </div>
<div> </div>
<div>Capacity utilisation rates point to further declines in unemployment, and even the labour costs index has broken out, suggesting that stronger wages growth may also follow in time. </div>
<div> </div>
<div>Of the mainland states, Queensland has seen a huge leap in business confidence to +13, now overtaking New South Wales +10. </div>
<div> </div>
<div>Consumer confidence is expected to follow this series higher. </div>
<div> </div>
<div>Rates to follow?</div>
<div> </div>
<div>Markets have seen enough and are now pricing a rate hike before the end of 2018.</div>
<div> </div>
<div>Despite this, it seems likely that the core inflation rate for the second quarter of 2017 will remain under the target 2 to 3 per cent range. </div>
<div> </div>
<div>The inflation report is due for release on July 27. </div>
<div> </div>
<div>
<p class="p1"><span class="s1">PETE WARGENT is the co-founder of <a href="https://allenwargent.com/" target="_blank"><span class="s2">AllenWargent</span></a> property buyers (London, Sydney) and a best-selling author and <a href="https://petewargent.blogspot.com/" target="_blank"><span class="s2">blogger</span></a>.</span></p>
<p class="p2"><span class="s3"><em>His latest book is </em><a href="https://www.bigskypublishing.com.au/Books/General-Interest/Four-Green-Houses--and-a-Red-Hotel/1015/productview.aspx" target="_blank"><span class="s2"><em>Four Green Houses and a Red Hotel</em></span></a><em>.</em></span></p>
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NAB survey burns house down: Pete Wargent

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<p>It's been Australia's greatest ever building boom, but the end of the boom is nigh. Let's take a run through the latest numbers released this morning in the usual three parts.</p>
<div>Part 1 - Housing starts drop sharply</div>
<div><strong> </strong></div>
<div>Seasonally adjusted housing starts fell sharply by 11 per cent to 50,395 in the March quarter, to be 19 per cent lower over the year, with unit commencements down by a thumping 29 per cent year-on-year. </div>
<div> </div>
<div>When plotting the smoother trend figures the drop doesn't look quite so dramatic, but nevertheless the downturn is underway. </div>
<div> </div>
<div><a href="https://www.propertyobserver.com.au/images/2017/07/13/A5.jpg" target="_blank">Click to enlarge</a></div>
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<div>The main driver of the drop has been Queensland, particularly Brisbane apartment starts which have dropped off a cliff since March 2016.</div>
<p><a href="https://www.propertyobserver.com.au/images/2017/07/13/A3-1.jpg" target="_blank">Click to enlarge</a></p>
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<div> </div>
<div>So it's been a genuinely impressive run, but dwelling commencements are now resolutely pulling back.</div>
<p>Part 2 - Completions roll in</p>
<div>A unique feature of this construction boom has been the length of time it has taken for the flood of new apartment projects to be delivered.</div>
<div> </div>
<div>However, completions are now starting to flow through nicely, with more than 223,000 completions over the year to March 2017. </div>
<p><a href="https://www.propertyobserver.com.au/images/2017/07/13/A6.jpg" target="_blank">Click to enlarge</a></p>
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<div class="separator"> </div>
<div>And there is still plenty more to come. </div>
<div> </div>
<div>Part 3 - Apartment pipeline remains at large</div>
<div> </div>
<div>There were still more than 215,000 dwellings under construction at the end of March 2017, including more than 152,000 attached dwellings. </div>
<p><a href="https://www.propertyobserver.com.au/images/2017/07/13/A1-1.jpg" target="_blank">Click to enlarge</a></p>
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<div> </div>
<div>Activity remains particularly high in Sydney, with more than 63,000 attached dwellings under construction across New South Wales at the end of the first quarter of the calendar year (and a massive 82,836 dwellings in total, an all-comers record). </div>
<p><a href="https://www.propertyobserver.com.au/images/2017/07/13/A2-1.jpg" target="_blank">Click to enlarge</a></p>
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<div> </div>
<div>However, more than 40,000 approved dwellings have never been commenced, and nearly 20,000 of these are located in New South Wales. </div>
<p><a href="https://www.propertyobserver.com.au/images/2017/07/13/A4-1.jpg" target="_blank">Click to enlarge</a></p>
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<div class="separator"> </div>
<div>The wrap - what goes up...</div>
<div> </div>
<div>Overall, it can hardly be a huge surprise that the number of dwelling commencements has pulled back sharply over the year to March, particularly for apartments. </div>
<div> </div>
<div>There is still a high volume of residential building work in the pipeline, however, while non-residential building approvals have now been trending higher for two years, which will go some of the way to plugging the gap.</div>
<p> </p>
<p class="p1"><span class="s1">PETE WARGENT is the co-founder of <a href="https://allenwargent.com/" target="_blank"><span class="s2">AllenWargent</span></a> property buyers (London, Sydney) and a best-selling author and <a href="https://petewargent.blogspot.com/" target="_blank"><span class="s2">blogger</span></a>.</span></p>
<p class="p2"><span class="s3"><em>His latest book is </em><a href="https://www.bigskypublishing.com.au/Books/General-Interest/Four-Green-Houses--and-a-Red-Hotel/1015/productview.aspx" target="_blank"><span class="s2"><em>Four Green Houses and a Red Hotel</em></span></a><em>.</em></span></p>
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Building boom was the biggest ever; but it's ending: Pete Wargent

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<p>Developer Greaton has purchased three adjoining land parcels in Sydney's North Shore suburb of Lindfield with a total size of 9,120 sqm.</p>
<p>Development approvals for 43 luxury townhouses and two free-standing homes esigned by Sydney architects Rothelowman on the site, 16 – 18 Beaconsfield Parade, have been lodged.</p>
<p>Council approval for stage one is expected in the second quarter of 2017. The development is expected to cost over $100 million.</p>
<p> Nicho Teng, managing director of Greaton said they saw this site as a great opportunity to enter the exclusive North Shore market.</p>
<p>“Downsizers and young growing families from the North Shore area are expected to primarily purchase in this project," he said.</p>
<p>"It is our view that luxury townhouses will appeal to these markets as they are looking for something larger than apartment living and also enjoy private courtyards and gardens.</p>
<p>“It made smart business sense to expand the company’s presence into the North Shore area which is well established. We are currently creating beautiful liveable communities across Australia.</p>
<p>"The Lindfield development further expands our growing property footprint in Sydney. We are looking for more investment opportunities in the area.”</p>
<p>Stage one is expected to be released in Spring 2017.</p>
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Developer Greaton buys three adjoining land parcels in Sydney's North Shore

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<p>Fractional property investing platform BrickX has updated the valuations for six of its properties in Sydney and Melbourne, with growth varying from 0 to 7.4 per cent.</p>
<p>The valuations were done by independent valuation firm Preston Rowe Paterson in June 2017.</p>
<p>BrickX, which buys properties and splits each one into 10,000 units or ‘Bricks’ which investors can then buy, has been on a buying spree in the last few months. It purchased six properties between April and June, five in Sydney and one in Melbourne.</p>
<p>In its year-end sale, the investing platform waived the transaction fees for buying or pre-ordering ‘bricks’ for its Brunswick property (above). The company charges a the transaction fee of 1.75% on every purchase of ‘brick’ or while selling ‘bricks’.  </p>
<p>The biggest change in valuation was for a two-bedroom house in Annandale, where the property value rose 7.4 per cent in the last six months to $1.45 million as at June. The growth was in line with the wider suburb index, BrickX said.</p>
<p>Brick valuation increased 8.81 per cent to $112.84, taking into account the acquisition costs and cash reserve, BrickX said. </p>
<p>Meanwhile, a one-bedroom unit in the Sydney suburb of Enmore remained constant at $650,000 compared with six months before. In fact, the new value of a ‘brick’ is $67.48, a slight fall from December’s $67.82. The same was the case with a two-bedroom unit at Mosman, which was steady from its December valuation. </p>
<p>The property was valued at $1.4 million in June while the ‘brick’ price actually edged down 0.51 percent to $143.43 per ‘brick’.</p>
<p>Among other properties with notable growth was a two-bedroom unit in Bondi Beach, which increased 3.7 percent in value to $1.4 million from its initial purchase price of $1.35 million. BrickX said the growth was also in line with the overall growth in the suburb.</p>
<p>The brick price rose to $100.19 from an initial $96.</p>
<p>Another two-bedroom unit in Double Bay showed a growth of 3.4 percent in value at $1.35 million on the initial purchase price in September 2016. This property exceeded the suburb index, said BrickX.</p>
<p>The value of a ‘brick’ is now $98.46, a 3.64 percent increase from the initial $95.</p>
<p>The only property with an updated valuation from Melbourne, was in Prahran. This two-bedroom unit rose 1.3 percent to $1.19 million and BrickX said it performed in line with the wider suburb index. </p>
<p>The ‘brick’ also rose a modest 0.44 percent to $123.88.</p>
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Annandale house provides biggest boost to BrickX investors with 7.4 percent growth in six months

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<p>The former Sapphire Lounge venue in Sydney's Kings Cross, now known as The Carlisle Bar, is up for lease.</p>
<p>This 400sqm split-level <a href="https://www.propertyobserver.com.au/https://metrocommercial.com.au/property/rental/2185" target="_blank">venue</a> has three bars, VIP area, indoor showpiece tree, birdcages and white decor.</p>
<p>It features a 24 hour liquor license (currently trading until 3am), 300 patron capacity, a full commercial kitchen and designed to cater for large corporate functions, product launches and special events.</p>
<p>The property is up for lease through Metro Commercial agents Jerry Leis, Dillon Frain and Nik Simonovic.</p>
<p>It has been an on off operation over the past decade, among the premises caught amid the lockout laws.</p>
<p>According to a News Ltd report last October, several Kings Cross club owners were intent on joining forces to amalgamate and then sell the adjoining properties on the infamous strip to a developer.</p>
<p><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/2017/07/12/2%20Keellett%20Place-2.jpg" alt=""></p>
<p>The Sunday Telegraph noted the consortium hoped the area will be rezoned to make way for two high-rise buildings modelled on Malaysia’s Petronas Towers with the development comprising 500 luxury apartments.</p>
<p>Sapphire Lounge owner Charlie Saleh told The Sunday Telegraph he began collecting signatures from the 65 property owners.</p>
<p>“It took a long time and a lot of money but we finally got the last landowner on board that we needed,” Mr Saleh said.</p>
<p>“This is a huge parcel of land that we think has great potential. You have the train station across the road, the CBD is 20 minutes away and you have views of everything from the Blue Mountains to Bondi and Manly.</p>
<p>“I think it’s the last great pocket of city land that hasn’t been redeveloped and if it’s done the right way I think it could transform Sydney.”</p>
<p><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/2017/07/12/2%20Keellett%20Place-3.jpg" alt=""></p>
<p>He said the area will never again be what it once was, due to the lockout laws, driving the decision of landowners to sell.</p>
<p>The lockout laws, introduced in 2014, state venues in the CBD and nearby Kings Cross close by 3am with last entry at 1.30am.</p>
<p>The nearby former nightclub and music recording studio known as “Studio X”, the 1200 sq m floor span immediately under Kings Cross’ famous “Coca Cola” sign, is for sale.</p>
<p>Colliers International’s Miron Solomons is marketing the property with Gunning Commercial’s Daniel Gunning.</p>
<p><span>Solomons says the property has been priced to sell at $13 million to $14 million. It is in two strata lots so it can be sold in one line or two separate areas. </span></p>
<p><span>The expressions of interest close Wednesday 26 July. The two empty lots have total outgoings for rates, strata, land tax and water of $116,476.</span></p>
<p>Solomons says the listing typifies the changing use of Kings Cross/Potts Point from the old bar and nightclub scene to a work and lifestyle environment. </p>
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