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

Joel Robinson

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

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

A collection of just 25 large-format apartments and penthouses overlooking Goodwin Park is entering the Coolangatta market, with <a href="https://www.apartments.com.au/new-apartments/marea-residences-coolangatta-27-27a-dixon-street-coolangatta-qld-4225">Maréa Residences</a> combining a low-density, residential-only approach with uninterrupted park and Pacific Ocean outlooks.

Located at 27 Dixon Street, Maréa comprises three and four-bedroom residences alongside a limited number of dual-level penthouses, with the project positioned between Goodwin Park and <a href="https://www.apartments.com.au/developments/coolangatta-qld-4225">Coolangatta</a>’s coastal precinct.

Construction has commenced, with completion currently estimated for late 2027. Three-bedroom residences are priced from $1.8 million.

[smartcode_project:default project_id=150999 project_image_fid=374005]

The project has been designed around its northern outlook across the park, with the building’s architecture, landscaping and material palette intended to establish a connection with the neighbouring green space. The residences have been configured to maximise natural light and views across Goodwin Park towards the ocean.

Inside, the material palette incorporates timber, stone and brushed brass, complemented by curved detailing and ambient lighting. Kitchens and bathrooms carry the same natural material approach, while residences also include basement parking, storage and lift access.

Maréa’s penthouses are arranged over two levels and include private pools, adding another layer to the project’s focus on larger-format apartment living. Across the development, residences are configured with three or four bedrooms rather than the broader mix of smaller apartment types commonly found in larger projects.

[smartcode_project:default project_id=150999 project_image_fid=374010]

Resident amenity is concentrated at rooftop level, where landscaped entertaining terraces and pools take advantage of elevated views across Coolangatta and the Pacific Ocean.

The project has so far been particularly well received by local owner-occupiers and downsizers, according to Urban Activation Property Sales and Marketing Director Matt George, with the residential-only format, construction quality and northern park outlook among the features resonating with purchasers.

“The uninterrupted northern aspect overlooking Goodwin Park has been a key point of difference, with buyers attracted to the sense of serenity and open space the park provides, while still enjoying easy access to the ocean and being within walking distance of the lifestyle and amenities Coolangatta has to offer,” George said.

[smartcode_project:default project_id=150999 project_image_fid=374002]

“The combination of high-quality construction, a residential-only building, park outlook and proximity to the beach has resonated strongly with the local downsizer market.”

The Dixon Street address is within walking distance of Coolangatta Beach and the broader southern Gold Coast coastline, including the surf breaks at Snapper Rocks and Kirra. Coolangatta’s cafés, restaurants and retail are nearby, while Gold Coast Airport is also within close proximity.

[smartcode_project_cta:default project_id=150999]

Maréa Residences brings parkside apartments to Coolangatta

Melbourne developer PDG has secured Victorian Government approval for its $1.5 billion Southbank development <a href="https://www.apartments.com.au/new-apartments/the-one-1-queens-bridge-street-southbank-vic-3006">The One</a>, clearing the way for the long-dormant riverfront site opposite Crown to finally be developed.

The Minister for Planning has approved the project at 1-29 Queens Bridge Street, with the Department of Transport and Planning issuing the planning permit following its assessment.

The approval will allow PDG to develop the prominent 5,059 sqm site with a major mixed-use tower comprising premium apartments, including branded residences, a luxury hotel and boutique office space.

PDG acquired the site in late 2024, with its position directly opposite Crown's main entrance and near Melbourne's Arts Precinct making it one of Southbank's most significant remaining development opportunities.

<img alt="PDG" data-entity-type="file" data-entity-uuid="3933013e-6332-4386-b9be-089df05caf17" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-27%20at%209.29.22%E2%80%AFAM.png?VersionId=sITIgBqDL0N3VNSMwWEmF5UA.uvcsRyu" />

Designed by COX in collaboration with ODO and PDG, the tower's architecture draws on the movement of the Yarra River, with six vertical pleats running the height of the sculpted facade.

The project will also see the heritage-listed Queens Bridge Hotel restored and incorporated into the development&nbsp;with new hospitality and public uses, including a rooftop venue.

A significant component of The One will be its residential amenity.

More than 5,000 sqm of resident facilities will be delivered across a single level, making it one of the largest consolidated residential amenity offerings proposed in an Australian apartment development.

The planning approval also incorporates a major upgrade of Queensbridge Square, which PDG will deliver in partnership with the City of Melbourne.

<img alt="PDG" data-entity-type="file" data-entity-uuid="73167fcd-1031-4b6f-a408-a064cfe45ed1" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-27%20at%209.29.17%E2%80%AFAM.png?VersionId=Pf1AEWxw6SNmBqR0zQW5lyEze.MtxgFp" />

The existing square will be revitalised as a new civic and pedestrian space along the Yarra River, strengthening the connection between the project, Southbank and the riverfront.

PDG Founder and Managing Director Vince Giuliano said the approval represented a major milestone for a site which has remained largely underutilised for more than 15 years.

“This is the most significant Planning Permit approval Melbourne has seen in recent years,” Giuliano said.

“For more than 15 years, this site has remained underutilised. This approval enables us to deliver a project that will contribute meaningfully to the revitalisation of Southbank, restore and reactivate an important heritage building, and create a new civic and hospitality destination for Melbourne.”

The latest approval follows an earlier planning permit issued by the City of Melbourne covering demolition works across part of the site at 9-29 Queens Bridge Street. Those demolition and early works are already underway.

PDG has also started generating early interest in the residential component from owner-occupiers ahead of a planned public launch in early 2027.

PDG secures approval for $1.5bn Southbank apartment development, The One

Local developer Harridan is seeking to turn its Woolloongabba apartment project into the first stage of a broader transformation of Burke Street, using a new 16-storey mixed-use building to establish a greener pedestrian connection toward the rapidly evolving Boggo Road transport and knowledge precinct.

The South East Queensland developer has filed plans for 154 apartments on the <a href="https://www.apartments.com.au/new-apartments/4-burke-street-woolloongabba-qld-4102">southern side of Burke Street</a>, where its proposal has been designed alongside a wider vision by LatStudios for the street.

That vision positions the southern side of Burke Street for buildings of 15 storeys and above, while envisaging lower-rise development of up to five storeys on the northern side to transition into Woolloongabba's existing character housing. It also proposes wider pedestrian verges, deep planting, new street trees and upgrades to the pedestrian approach to Boggo Road Station.

The Harridan development itself has been designed by Brisbane-based Arqus Design and will comprise 154 apartments across 16 storeys. The mix is weighted heavily toward two-bedroom apartments, with 121 proposed alongside 10 one-bedroom and 23 three-bedroom residences. There will typically be around 14 units per floor.

A lower-ground car park and three podium levels will accommodate 156 resident parking spaces, along with visitor and commercial parking. There will also be 154 resident bicycle spaces and 40 visitor bicycle parks.

&nbsp;

Harridan is a family-owned developer and part of the Holmwood Highgate Group, with more than three decades of development activity across South East Queensland. Its portfolio spans residential, commercial and industrial property, with current residential projects including Riverbank on Byron in Bulimba, Esperance Residences in Carina and The Precinct at Kinross Road in Thornlands.

Wooloongabba has been popular for apartment developers, particularly since the announcement of the 2032 Summer Olympics games in Brisbane.

While there have been a lot of development applications, it has failed to materialize into real supply.&nbsp;

Sarazin has been the major player in the area. They are under construction at Murcia Residences, on the fringe of East Brisbane and Woolloongabba. They have just launched <a href="https://www.apartments.com.au/new-apartments/the-stanley-residences-woolloongabba-8-trafalgar-street-woolloongabba-qld-4102">The Stanley Residences</a>, in Woolloongabba on Trafalagar Street. They also have Nuage coming soon on the nearby <a href="https://www.apartments.com.au/new-apartments/nuage-woolloongabba-14-wellington-road-woolloongabba-qld-4102">Wellington Road</a>.

First look: Harridan plans Burke Street transformation beside Boggo Road transport hub

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 former Salvation Army site in Melbourne’s northern suburb of Glenroy has sold at auction for $1,705,000, well above expectations.
The property at <a href="https://www.realestate.com.au/sold/property-residential+land-vic-glenroy-201806918" target="_blank">132-134 Cardinal Road</a> comprises a solid brick building with frontage to Cardinal Road.
The 1,393 sqm site is located within a favourable Neighbourhood Residential Zone.
The buyer was an interstate owner occupier and the selling price translated to a land rate of $1,223.97 sqm and building rate of $3,486 sqm. 
The selling agent was Anthony Carbone of CVA.
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jonathanchancellor-7SQnKwU6yx

Former Salvation Army site in Melbourne's Glenroy fetches $1.7 million at auction 

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SPONSORED POST
As a professional writer, Bianca is no stranger to the occasional plot change.
With a long history in the performing arts; from dancing at the Atlanta Olympic Games Closing Ceremony with the Bangarra Dance Company (at just thirteen years of age); studying at one of Australia’s most prestigious acting schools, The Actors Centre Australia; to penning and producing her own comedic television pilot, Coulda Gone Pro – she didn’t exactly have property investing at the forefront of her mind.
However, after extensive travels pursuing her creative ventures that saw her setting up shop in Dublin, LA and London, Bianca felt it was time to settle down.
Now back in Sydney working as a Senior Copywriter for an international beauty company, while freelancing for Fairfax Media as a health and wellness writer, Bianca contemplated options to set herself up for the future. She was always aware of the traditional ideal of ‘security’: buying a home to live in. However, with a creative spirit and a love of travel, this didn’t seem like the right option. In addition, once Bianca crunched the numbers, they spoke for themselves. 
The dream of owning your own home used to mean living in it too. Not for Bianca, she is one of a new breed of investor, the 'rentvestor'. She has the freedom to live where she likes while her property investment pays a weekly income and continues to appreciate.
Bianca shares, “I didn’t want to commit to paying off a mortgage that left me with no money to enjoy life, when I could rent a great apartment within my budget, and still have my finances working for me. 
I was aware of property investing, and had been contemplating my options for some time. Although I had seen friends and family invest, and was now in a financial position to do so myself, I was still apprehensive. 
Being a first-time investor, there was a fear of the unknown because it was all new to me, so I kept putting it off as I didn’t want to lose all my money.” 
As the plot of Bianca’s story progressed, she took the plunge and consulted with DPN’s David Khalil. “David did the initial consultation. He was extremely thorough and tremendously patient, taking the time to clarify every detail and answer a myriad of questions.
“Ultimately, what spurred me on was that property investment could help me reach financial freedom.”
What finally encouraged Bianca to go ahead and invest, was that she saw David Khalil using the strategy personally – to great financial reward. Bianca points out: “The proof is in the pudding. The fact that Dave actually follows the strategies himself, gave me a lot of confidence. He wasn’t just telling me what to do; he had invested his own money, and followed the exact same strategies with impressive success.” 
Ultimately, what spurred her on was how she could see that property investment could one day help her reach financial freedom.  
DPN presented Bianca with a property investment solution 
David alerted Bianca to a house and land package in Currans Hill South-Western Sydney, a suburb of Manooka Valley, which had just become available. It is an area that DPN had identified as having excellent capital growth. In addition, the home was the DPN Casa Second Dual Income – two houses on the same block. The property not only boasts a family-friendly four-bedroom home, but also a chic two-bedroom house. Bianca says she “jumped on it right away” when it was presented to her. DPN assisted in getting a mortgage and recommended property managers.
A Dual Income property that pays two rents
The dual income property allows Bianca to enjoy the passive income from the second home, as well as the remarkable capital growth. The purchase price was $659,961 in Sept 2014, and is now valued at $840,000 in June 2017. That’s a sizeable increase of $180,039 in three years. On top of that, Bianca receives $890 per week in rental income. That works out at a 7 percent rental yield, significantly higher than the average for the suburb. 
<a href="https://www.propertyobserver.com.au/images/2017/06/28/Screen%20Shot%202017-06-28%20at%2012.07.40%20PM.png" target="_blank">Click to enlarge</a>
<img src="https://www.urban.com.au/images/2017/06/28/Screen%20Shot%202017-06-28%20at%2012.07.40%20PM.png" alt="">
"That's a 7 percent rental yield, significantly higher than the average for the suburb." 
So, she is enjoying a positive rental yield with the extra bite of the cherry in strong capital growth. “I’m very happy with my investment. I purchased before the area skyrocketed, and got a lot of bang for my buck.” 
Both Bianca’s brother and sister have also invested with DPN; with her brother so inspired by her success, that he invested in a Brisbane property.
Today, Bianca is a Senior Creative for a leading advertising agency, while occasionally getting back to her performance roots with presenting appearances on Seven’s ‘The Morning Show’, and Nine’s ‘Today’. Renting by the beach, Bianca enjoys seaside life while watching her investments grow.
You can read the original article <a href="https://www.dpn.com.au/learn/market-updates/writing-her-own-story" target="_blank">here</a>. 
For more information from <a href="https://www.dpn.com.au" target="_blank">DPN</a>.
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jchancellor-FAypfDUnLy

CASE STUDY: How to invest in property while renting

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Melbourne’s St Kilda Road is experiencing an influx of major businesses in the past 12 months, as witnessed by a recent leasing office deal in the precinct. 
Perth-based landlord Lester Group’s office asset at <a href="https://www.realcommercial.com.au/property-offices-vic-melbourne-501843394" target="_blank">324 St Kilda Road</a>, which was previously leased to Target, has found three new tenants across five floors totalling 4,500 sqm. 
Sales solutions provider The SMART Group has relocated from Richmond, committing to levels two and six; waste, water and energy solutions provider Veolia has relocated from South Melbourne, committing to level five; and claims management solutions provider Crawford &amp; Company has relocated from Southbank, committing to levels three and four, according to leasing agents from Colliers International.
The vacancies were created after Target, which leased five floors in the building between 2012 and 2015, vacated the space and relocated to Geelong and Bourke Street.
The discount retailer, which is owned by Perth-based Wesfarmers - also a tenant at No.324 - has since committed to a new office building at Williams Landing in Melbourne's west.
The trend is part of a growing number of national and international companies relocating to the city-fringe boulevard, including advertising agency Big Red from Prahran, Just Group from Richmond, Deluxe from South Melbourne and Monash University from various locations. 
The deal was negotiated by Colliers International’s Ben McKendry, Vincent Tran and Matt Cosgrave along with Thorburn Property’s Kenny Thorburn.
The three deals were completed at circa $450 gross per sqm, with multiple options to renew the lease terms.
<img src="https://www.urban.com.au/images/2017/07/10/StKilda2.JPG" alt="">
According to Colliers, St Kilda Road’s proximity to the CBD and its high-quality and cost-effective leasing opportunities attract major tenants.
“The successful leasing campaign has vindicated our decision and belief in St Kilda road four years ago when we acquired the building,” Lester Group’s Russell Lester said. 
“324 St Kilda Road is now 100 per cent leased following Target’s relocation to Geelong mid last year, which left Colliers International and Thorburn Property with five floors to lease, each measuring 918 sqm,” Tran said. 
Further reinforcing the precinct’s strong standing within the city-fringe office market, several large multi-national businesses already present on St Kilda Road have opted to remain there, with Macquarie Leasing, WPP and Frasers Property Australia recently renewing their leases.
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Melbourne's St Kilda Road witnesses surge in major tenants 

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Middle-East based HLG Contracting, in which CIMIC group has a 45 percent investment, said it had won a contract for a development project in Dubai with revenue of $224 million.
The contract involves construction of expo village parcels 10 and 11 residential towers by Dubai World Trade Centre (DWTC), the ASX release said.
HLG said it will be responsible for the construction of five16‐storey towers. 
Three of the towers would be connected through a mutual three‐storey podium, while the other two towers would also be co‐joined through a shared three‐storey podium. 
Works include the concrete frames, masonry, facades, fit‐out, external works, and provisional sums for the mechanical, electrical and plumbing, wardrobes, kitchen, timber doors, lifts and façade cleaning system. 
The development has a total built‐up area of 155,000 sqm. 
Construction is expected to begin in July 2017, and is due to be completed by June 2019 ahead of Expo 2020 Dubai, which opens in October 2020. 
ASX-listed CIMIC is headquartered in Sydney and is the world’s largest contract miner.
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CIMIC-backed HLG Contracting wins $224 million Dubai construction project 

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Palace Cinemas is expanding into Melbourne’s west with their eighth Melbourne complex in the Moonee Ponds precinct.
The group, which operates 85 screens across 20 locations nationally, has plans for a 12-screen cinema at Puckle Street.
It will include 3 platinum screens, a total 620 seats and an outdoor cinema space. The cinema will be part of a retail, hospitality, accommodation and leisure development by Giancorp Property Group in Melbourne’s inner West.
Palace Cinemas’ CEO Benjamin Zeccola said the group had been looking to set up shop in Melbourne’s West for a while now. 
“Our audiences had expressed that there was a real market gap in cinemas delivering a premium experience and offering quality film in that area, so when the opportunity arose to be part of a stylish new development in Puckle Street it was perfect,” he said.
Palace Cinemas also said new cinemas had been confirmed for Melbourne’s Old Pentridge Prison in Coburg, as well as Sydney suburbs Double Bay and Chippendale, and Raine Square in Perth.
With the expansion, the group was poised to introduce a “wider audience to its unique combination of entertainment hospitality,” it said in a release.
Construction at Moonee Ponds is expected to begin in 2017 with the opening expected in 2019.
In 2016, Palace Cinemas bought office space in <a href="/expert-insights/investing/palace-cinemas-to-move-hq-after-south-yarra-purchase">South Yarra</a> for $3.5 million with the intention of making it the group's new headquarters.
 
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prateek24-ezbwHMbNAk

Palace Cinemas to expand into Melbourne West with 12-screen cinema at Moonee Ponds

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Units in Melbourne, the NSW Central Coast, the Gold Coast and Newcastle are at the peak of the market according to the July property clock from Herron Todd White.
Apartments in Cairns, Townsville and the Whitsundays are ranked at the bottom of the market.
Apartments in Sydney, Ballarat and Dubbo are approaching the peak of market.
Melbourne, Coffs Harbour, the Gold Coast and Newcastle were at market peak last month too.
<a href="https://www.propertyobserver.com.au/images/2017/07/11/Screen%20Shot%202017-07-11%20at%208.47.56%20AM.png" target="_blank">Click to enlarge</a>
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According to HTW, inner city Melbourne continues to be the fastest growing capital city in Australia, driven by migration from both interstate, regional and overseas areas which in turn creates higher demand.
HTW said the Melbourne CBD and inner city suburbs residential market has remained steady throughout the year, with rental returns generally ranging between 3 percent and 6 percent. 
"At an entry point of $500,000 you will not be able to purchase a detached dwelling, terrace or townhouse, however, 1-bedroom or compact 2-bedroom apartments with a car space may be available," HTW said.
"In response to the growing demand, Melbourne city planners have been green-lighting new medium rise and high-rise residential developments. 
"Many new apartment buildings are nearing completion and many more are currently being built or are approved for construction, adding growing concerns of apartment oversupply which has been covered extensively in previous reports."
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j.ballantyne1990-6AQqhLzZaK

Melbourne apartments at peak of market: HTW July property clock

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SPONSORED POST
The Property and Construction sector has rightly been identified by the Queensland Government as one of the four pillars of the economy, alongside Tourism, Agriculture and Resources.
 The sector consistently contributes approximately 11% of Queensland’s gross state product. After Health and Retail, it is the third largest employer.  
Worryingly, of the $42.75 billion allocated to infrastructure over the next four years, only $4.8 billion will be invested in regional Queensland. Historically, on average, less than 12% of infrastructure spending is invested into regional infrastructure development. 
The question then is: is that distribution equitable and can our budgets be brave enough to significantly shift the historical balance in favour of regional over metropolitan infrastructure and development? The arguments in favour of being brave are compelling. 
For their contribution and according to Regional Australia Institute (RAI), regional cities will have added $375 billion to the national economy by 2031. With the Queensland economy in a transitional phase and on a continued downward slide from the resource boom, taking advantage of the opportunities that regional cities provide has never been more important.
Regional cities north of Brisbane are optimistically investing in long rather than short term strategies. Geographic opportunities in the agri-foods and freight logistics sub-sectors offer possibilities that the north is able to yoke through harnessing untapped water supplies and developing agricultural potential in its vast plains. A northern food bowl would help sustain the emerging and ever increasing demographic realities that the likes of China and Singapore face. 
The resultant logistic hubs could in parallel, sustain other economic stimulators. Toowoomba’s Wellcamp Airport for example has had a significant impact on local food and horticultural production for which commercial freight flights have commenced. 
Further north, Mount Isa Regional Council predicts that the new Mount Isa to Tennant Creek rail link will be the stimulus for an economic corridor that will boost local economies along its route and diversify that particular region’s mining focused economies into other sectors. 
Airports could unlock the two-stop long-haul flights to Europe and therefore lure large carriers who currently use Dubai or Hong Kong as a preferred international stopover. How? Qantas, for example, has already commenced direct flights from Perth to London. 
By making Broome or Mackay the first stopover for a long range ‘Dreamliner’ or similar flight to London, Australia’s regional tourist hubs could be the next mega transit hubs in their own right. Bernard Salt suggests that this will help create new secondary cities equitably spread (geographically) across Australia.
<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/Savills2.jpg" alt=""> 
Regional cities are recognising that the knowledge worker can work from anywhere as long as they have access to their tools and technology. Sunshine Coast Council for example plans to link its region directly to global communications systems in Asia, the Pacific and the United States by encouraging the private sector to deliver an international submarine broadband cable connection that would land at Maroochydore. Initial economic modelling indicates that this initiative will generate an additional $700 million to the Sunshine Coast economy every year and $1.1 billion annually to the state’s economy. 
The Commonwealth Government’s embracing of the UK’s City Deals, Growth Deals and Smart specialisation concepts is a step in the right direction to managing regional infrastructure growth and investment. City Deals are agreements between the Commonwealth Government, a state or territory government, and local governments to enhance economic activity and liveability. 
They work by developing collective plans for growth and commitments to action, investment, reforms and governance from the associated stakeholders. Already, the first city deal agreements have been signed this year for Townsville and Launceston. 
It is demonstrably evident that regional cities are now starting to think bigger than ever and making their own luck in the process. However it is only with sound equitable funding of infrastructure initiatives with strong leadership that sustainable and long term success can be achieved. 
Are our leaders brave enough to push for a strong catalytic stimulus to regional infrastructure development and fundamentally shift the balance of growth, population, economic benefit and employment?  
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Lawson Katiza is an Associate Director of <a href="https://www.savills.com.au/services-and-sectors/project-management.aspx">Savills Project Management</a>, and Queensland lead for Advisory and Commercial sectors. Savills Project Management is a Tier 1 project management and social infrastructure advisory specialist and a division of <a href="https://www.savills.com.au">Savills Australia</a>, an integrated property solutions company.
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spost-fCfKtoCdFu

Being brave in budgeting for regional infrastructure

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The Canberra market continues to look stronger and is rising as Sydney is fading.
The ACT took some time to join the party, and its conditions remain somewhat less than a “boom”, but are becoming increasingly buoyant.  All indicators - sales activity, price growth, rental growth and vacancies - indicate a market that’s trending upwards.
Having previously been hampered by downsizing in the public service and a unit oversupply, the Canberra showed signs of rising in 2014, when total residential sales increased to 9,200 from 8,590 the year before. Sales rose further to 9,829 in 2015 and the market has remained busy ever since.
Total residential sales volumes have been rising over the past two years. In 2012, 2013 and most of 2014, every quarter recorded residential sales below 2,300 - but since late 2014 most quarters have been above 2,400 sales.
This has occurred on the back of an improving economy (recently ranked No.2 in the nation behind NSW by CommSec), low unemployment and high average incomes.
The greatest strength has been in the housing market, with sales activity in the apartment market falling away last year.
As a result, the most positive statistics on prices and rents are being seen in the housing market, and much less so in the apartment market.
The latest figures from SQM Research suggest a 13 percent annual rise in house prices and a 4 percent rise of units. CoreLogic’s latest data says houses are up 10 percent and units 7 percent.
The Canberra figures for house price growth are bettered only by Melbourne and Sydney.
The national capital is also the national leader on rental growth, helped by very low vacancy rates. Both SQM and Domain suggest vacancies are consistently around 1percent (only Hobart is lower among the capital cities).
SQM says rents are up 7 percent for houses and 2 percent for units, while Domain reports 6 percent growth for houses and 5 percent for units.
Median rental yields are 4.1 percent for houses (compared to 2.8 percent in Sydney and 2.6 percent in Melbourne) and 5.1 percent for apartments.
Overall, as I have often commented, the standout characteristic of Canberra is the steadiness of its performance. I sometimes refer to it as the Goldilocks of Australian real estate: not too hot, not too cold, just right.
That, plus the low vacancies and the growth numbers now emerging, make the national capital increasingly appealing for investors.
Another predictable factor in the ACT market is the predominance of the northern part of the city in terms of growth markets.
While there are now growth suburbs across the Canberra metropolitan area, the strongest precincts once again are the Belconnen and Gungahlin districts in the north.
In the latest Hotspotting research for The Price Predictor Index, we have identified 18 Canberra suburbs with rising markets and nine of those are in the Belconnen and Gungahlin areas.
Belconnen (six growth suburbs) has taken over from Gungahlin (three) as the clear market leader.
Suburbs with rising markets in the Belconnen District include Flynn, Bruce, Florey, Holt, Macgregor and Evatt. Bruce, where house sales have risen from 38 to 41 to 44 to 54 in the past four consecutive quarters, is typical of the suburbs that are rising.
There are growth markets elsewhere as well, including in the Tuggeranong and Inner South precincts of the city. 
Terry Ryder is the founder of <a href="https://www.hotspotting.com.au/" target="_blank">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'" target="_blank">email him</a> or follow him on <a href="https://twitter.com/hotspotting" target="_blank">Twitter.</a>
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terryryder-YECXbqmri2

As Sydney market fades Canberra gains strength: Terry Ryder

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Greater Brisbane's apartment construction boom totters on its last legs, with annual unit approvals crashing by 42 percent (so far), and developers struggling to sell out live projects. 
There are still quite a number of significant projects under construction. 
When finished, the project will comprise 360 apartments across the three residential towers. 
On Old Cleveland Street, the old retail eyesore has gone, to be replaced with 7,000 square metres of new retail space, including cafés, restaurants, and a 10-theatre cinema precinct.
The final stage of the apartments has reportedly yet to sell out, despite being approved in 2014 and being located in a relatively prime location. 
Over the medium term this will doubtless be a very popular location, but the appetite for new apartments has been sated for this cycle.
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PETE WARGENT is the co-founder of <a href="https://allenwargent.com/" target="_blank">AllenWargent</a> property buyers (London, Sydney) and a best-selling author and <a href="https://petewargent.blogspot.com/" target="_blank">blogger</a>.
His latest book is <a href="https://www.bigskypublishing.com.au/Books/General-Interest/Four-Green-Houses--and-a-Red-Hotel/1015/productview.aspx" target="_blank">Four Green Houses and a Red Hotel</a>.
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pwargent-M4siyDbqQY

Greater Brisbane's apartment construction boom totters on its last legs: Pete Wargent 

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GUEST OBSERVER
Over 10,000 cyclists commute into Melbourne’s inner city every morning.
Many popular routes are located along residential streets. Secret Agent wanted to find out if the presence of a bicycle lane had any impact on house sale prices within a suburb. 
Our sample consisted of 103 period house sales in Carlton North, 83 houses in Clifton Hill and 121 houses in Fitzroy North from 25 May 2015 to 8 June 2017. At least a third of the sample from each suburb consisted of houses facing bike paths.
A bicycle lane was defined as a pathway for cyclists clearly distinguished on both sides (left and right) from street parking and the main motorist thoroughfare. Lanes with a bicycle symbol on the road, but without clear delineation on either side, were excluded. 
A hedonic linear regression model was used to study the effect of having a bicycle lane on the sale price of the property in each suburb. Other factors taken into account included the sale date, land area, number of bedrooms, bathrooms and car spaces.
We found that the presence of a bicycle lane had a strong positive effect on the sale price of a house in Carlton North, adding up to $250,000 in value. With
a median sale price of $1,371,000, this implies a premium of nearly 20%.
However, it had little to no effect on houses in Clifton Hill and Fitzroy North.
This result isn’t to be read merely on face value. The price premium in Carlton North could very well be a result of many positive characteristics combined - one of which is a bicycle lane. A street with a bike path in this suburb tends to have wider roads, more vegetation and even a median strip. These greener, wider streets boost social appeal and safety, adding up to a rather attractive streetscape for prospective buyers, as evident by the prominence of Drummond, Rathdowne and Canning streets. 
A three bedroom house on 288 Richardson Street, Carlton North, recently sold for $1,550,000.
<img src="https://www.urban.com.au/images/2017/07/07/Screen%20Shot%202017-07-07%20at%209.51.47%20AM.png" alt="">
A two bedroom house with two bathrooms, <a href="https://www.realestate.com.au/property-house-vic-carlton+north-125856038" target="_blank">384 Canning Street </a>Carlton North, is up for auction with expectations between $1.5 and $1.6 million.
<img src="https://www.urban.com.au/images/2017/07/07/Screen%20Shot%202017-07-07%20at%209.59.24%20AM.png" alt="">
 
For more information, <a href="https://secretagent.com.au/">click here</a>.
 
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