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

Joel Robinson

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

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

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

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

Owners move in as Esprit completes at Rainbow Bay

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

Mosaic's Midas Touch

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

Groundbreaking marks start of construction at Keira Place in Wollongong CBD

Prominent New Zealand apartment and hotel operator, <a href="/developers/safari-group">Safari Group</a>, is offering up a prime investment opportunity for Australians to purchase off the plan in one of the world’s most popular ski destinations.

They recently took to market Mountain Oak Queenstown Apartments, in the growing precinct of Remarkables Park in Frankton, near the airport and at the foot of The Remarkables - the mountain range the locals like to call “The Remarks”.&nbsp;

Sydney investors have shown interest in the one, two and three-bedroom apartments that secure high-season occupancy six months over the year, primarily over summer and winter months.

They average 90 per cent occupancy across their portfolio over January, February, March, August, November and December, while shoulder season months of April, July, September and October are still occupied 70 per cent of the time, with the growing appeal of Queenstown becoming not just a hotspot for the snow, but a lifestyle destination.

Even in the low seasons of May and June, occupancy levels reach around 40 per cent.

<img alt="Safari Group’s Mountain Oak Apartments brings new investment potential to Queenstown" data-entity-type="" data-entity-uuid="" src="https://res.cloudinary.com/dz9xllyip/image/fetch/f_auto,c_limit,w_1440,q_auto/https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/field/image/Ext_Cam15_Sunny.jpg?VersionId=SJAROUM_1s.Tr5ciMk4EEj5oAt_Vewmv" />

Safari’s Safari Hotels arm can also manage the holiday letting for an investor, from the listing on holiday accommodation websites such as Airbnb and Booking.com to the cleaning and maintenance of the investment. They’ve been in the short stay management business for 15 years and offer 24/7 support for investors, an important convenience benefit for any overseas investor

Another major drawcard for Australians is that New Zealand doesn’t have a stamp duty policy - so the entry price of NZ$639,000 (AU$586,000), is all that is payable on completion.

<img alt="Safari Group’s Mountain Oak Apartments brings new investment potential to Queenstown" data-entity-type="" data-entity-uuid="" src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,dpr_2.0,q_auto:good/https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/313_Livingv2_WEB.jpg?VersionId=nV229fM0ZeYpoxOrX372HyGjfwY_LR8c" />

Safari is starting construction of the 141 apartments in Q2 this year, with a two-year build estimated to complete in mid-to-late 2027.<img alt="" data-entity-type="" data-entity-uuid="" height="15" src="https://lh7-rt.googleusercontent.com/docsz/AD_4nXczFpFAb7WuA6f4f9TtKWcqXyNwR8qqtakWv352ERkpqNlP3KwIo8YKxw67jZNHfpjEGIZGv5MQTbnvLZwNt8iu9IVdOrswOjCvBZ4zhSoOOLrpt6etVEZTN1gkBho0r_R72zdHNA?key=yq3daOanqHSb88QFd8jGYKdb" title="Click and drag to move" width="15" />​

The apartments will feature modern amenities and contemporary designs with expansive windows capturing sweeping views of The Remarkables mountain range.&nbsp;

Interiors are equipped with modern finishes, premium appliances, and secure electronic key-locked doors, ensuring a comfortable living experience for residents and guests alike.

With its strategic location near Coronet Peak and Cardrona Alpine Resort, as well as key retail and dining precincts such as Market Street, Five Mile Shopping Centre, and Remarkables Market, Mountain Oak offers a strong proposition for investors seeking high rental yields and capital appreciation in one of New Zealand’s most sought-after locations.&nbsp;

Queenstown’s sustained demand for visitor accommodation and rental properties is underpinned by a shortage of housing options, attracting both local and international buyers.

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

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A tenanted property with potential for development in Melbourne’s university precinct has been listed for sale.
The <a href="https://www.realcommercial.com.au/property-land+development-vic-melbourne-502375906" target="_blank">478 &amp; 480-488 Elizabeth Street</a> site is to be sold subject to a current planning permit application for a 68-level retail, residential and hotel tower.
The site is being marketed by commercial property group CBRE’s Josh Rutman, Mark Wizel and Lewis Tong.
Offers recently closed with no indications of a sale yet although expectations are for above $30 million.
The combined landholding is 1,172 sqm and the floor area is 2,601 sqm.
<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/2017/06/06/MelbournDevSite1.jpg" alt="">
The property benefits from its location on the CBD's education and medical precincts, amongst the retail core and the Queen Victoria Market, with Melbourne Central Station closely.
The site has frontage to Elizabeth Street.
The site offers significant existing improvements with refurbishment potential for office, residential and/or office uses (STPA).
 
 
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jonathanchancellor-7SQnKwU6yx

Site with development potential in Melbourne's university precinct up for sale 

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A development site in Sydney’s inner-city suburb of Darlinghurst has sold under the hammer at  CBRE auction.
The <a href="https://www.realcommercial.com.au/property-land+development-nsw-darlinghurst-502333694" target="_blank">54-56 Riley Street</a> property, sold by Rainbow Lane apartments, was sold tenanted.
The property was auctioned off at AuctionWORKS in Sydney.
It last traded in 2016 for $4.55 million, according to CoreLogic. 
The site has a building height limit of 22 metres and it has three street frontages (Riley Street, Yurong Lane and Crown Lane), apart from its desirable city fringe location.
The selling agents were Nicholas Heaton, Gemma Isgro and Michael Khouri of CBRE.
The land area is 358 sqm and the zoning is for mixed use development.
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Tenanted property in Sydney's Darlinghurst sells under the hammer

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A city fringe hotel in West Melbourne has been snapped up by developer United Asia Group through Savills.
Flagstaff City Inn at 45-55 Dudley Street had been listed with expectations of more than $18 million.
The hotel is speculated to have changed hands for around $19.5 million or a per-square-metre rate of around $15,000, according to Fairfax Media.
The selling agents were Clinton Baxter, Benson Zhou and Jesse Radisich of Savills.
"It achieved an unprecedented land rate for West Melbourne, which is indicative of offshore developers' desire to cater for burgeoning demand," Baxter was quoted by the Sydney Morning Herald.
It generates an income of nearly $1.3 million per annum.
The property was offered to the market on a ‘walk-in, walk-out’ basis with expressions of interest closing April 11.
It is close to city centre attractions, the Melbourne Cricket Grounds (MCG), Royal Botanical Gardens, Southgate along the Yarra River, Crown Casino and more.
UAG, led by Nicole Chow, snapped up the property.
It has 42 spacious suites, a restaurant and facilities for conference  etc.
There is development potential with a 38-level tower next door.
Radisich said future development outcomes for the site could include high density residential and retail, commercial, student accommodation and hotel uses.
“The flexible Mixed Use zoning provides for a wide range of development options and that fact, not to mention the size of the land and the red hot hotel market, is what is so compelling about the opportunity that this property presents,” Radisich said.
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Melbourne's Flagstaff City Inn snapped up by developer through Savills

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A retirement estate in Bowral precinct in NSW’s Southern Highlands has sold for an undisclosed sum.
The <a href="https://www.realcommercial.com.au/property-land+development-nsw-burradoo-502380918" target="_blank">510 Mossvale Road, Burradoo</a> site has an area of 3.4 hectare and is located in the  residential land sub-division. 
The Karrara Retirement Estate, currently an over 55’s strata estate, is at the corner of Moss Vale &amp; Links Road, Bowral. 
It has been partially developed, with Stage 1 complete. Stage 2 has commenced. 
The median house price is $950,000, according to selling agency Colliers International.
<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/2017/06/06/Bowral1.jpg" alt="">
The village currently comprises two lots, one containing a newly restored heritage home which is the main community facility within the village. 
It has an indoor pool, snooker table and several kitchenettes and community facilities. The second lot comprises nine newly built homes along with 46 additional serviced sites as well as some earthworks for stage 2 which is now ready for construction.
The selling agents were Peter Seeto and Michael Sullivan of Colliers.
 
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Bowral retirement estate with development potential sold

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A historic building in Brunswick has just sold for $3,140,000, a little below its expected listed price tag. 
The 1903 Federation Free Style building at <a href="https://www.realcommercial.com.au/property-land+development-vic-brunswick-502300374" target="_blank">307 Victoria Street</a> comprises a warehouse, showroom and penthouse.
The property was listed in 2016 for sale by negotiation with a $3.5 million price tag.
It has housed designer printing business Papers Of Distinction since 1997, founded by vendor Jillian Houlihan.
Set on the Boase St corner, the 527 sqm property has Art Nouveau detailing, including tulip mouldings.
It was also formerly the United Friendly Societies medical dispensary building.
The building has three titles selling as one parcel. It has three frontages.
The zoning is Commercial 1.
Upstairs is a 'New York style' apartment with rooftop terrace and high ceilings, while the showroom has three offices and open fire place.
The selling agents were Peter Sowersby and Jane Sowersby of Walshe &amp; Whitelock and ICR Property Group’s Julian Materia and Raff De Luise.
ICR’s Raff De Luise had said at the time of listing that most of the potential buyers planned to live in the two-bedroom penthouse and operate their business beneath.
 
 
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Brunswick warehouse with penthouse sells for over $3 million

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In Australia’s retail market, there is none at the top of the market, though quite a few are approaching the peak, according to valuation firm Herron Todd White’s property clock.
According to the latest update, four capital cities: Melbourne, Sydney, Brisbane and Canberra, are approaching the peak of the market. The rest is made up of Coffs Harbour, Gold Coast and Newcastle.
Meanwhile, the biggest list is for the rising market position. Hobart is the only capital city in the list.
<a href="https://www.propertyobserver.com.au/images/2017/06/05/HTWRetailClock.jpg" target="_blank">Click to enlarge</a>
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/06/05/HTWRetailClock.jpg" alt="">
The other major cities, Adelaide and Perth, are approaching the bottom of market while Darwin is a declining market, the clock shows.
The bottom is made up of Gladstone, Townsville and Wide Bay.
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Four capital cities nearing peak of retail market: HTW commercial clock

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The $1 billion 447 Collins Street is set to transform Melbourne’s city skyline.
Colloquially dubbed the “Pantscraper” for its twin towers joined by a sky bridge, Cbus Property’s 42-storey mixed-use development comprises 49,000sqm premium-grade office space, a five-star W Hotel and 202 boutique residential apartments.
Designed by New York-based SHoP Architects and Melbourne-based Woods Bagot, 447 Collins Street will deliver Melbourne’s first WELL-rated building and have five-star NABERS and Green Star ratings.
Construction on 447 Collins Street has commenced and completion is anticipated for late 2019.
Three major legal firms, King &amp; Wood Mallesons, HWL Ebsworth Lawyers and Gadens, have committed to office space.
King &amp; Wood Mallesons was the first to commit, securing 8,345sqm, and was quickly followed by HWL Ebsworth Lawyers for 6,500sqm across three levels, and Gadens for 5,000sqm across two-and-a-half levels.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/05/25/Collins%20Arch%202.jpg" alt="">
Sole leasing agent Colliers International is seeking other top-tier financial-sector tenants to fill the vacancies.
“447 Collins Street is now 60 percent leased,” national director of Colliers International’s Melbourne CBD Office Leasing team, Andrew Beasley, said.
“We have only four low-rise floors and three high-rise floors left to offer – and they’re likely to be leased quickly, if the other pre-commitments are any indication.”
Marriott International’s W Hotels brand will debut in Melbourne with a 294-room offering, including 40 suites, an Extreme Wow suite, gym and heated indoor pool, due to open in 2020.
“The vision is to activate the west end of Collins Street, with W Melbourne welcoming a bar, restaurant and spa to the precinct and encouraging people to linger at night,” Mr Beasley said.
The residential component of 447 Collins Street, being marketed as Collins Arch, will comprise 202 luxury one-, two- and three-bedroom apartments positioned across the building’s highest floors and oriented to maximise panoramic views of the city.
The sky bridge will house the residential amenities, including a statement pool with views from the 34th floor to the city below, a gym, wine cellars, residents’ lounge and two private dining rooms with a catering kitchen, accessed by residents from both east and west towers.
Penthouse residents on levels 38 and 39 will HAVE residences with indoor and outdoor living spaces.
“The idea of a city-within-a-city drove the design – we wanted to create a new amenity for Melbourne that will be an amazing place to live, work or play,” SHoP Architects principal, William Sharples, said.
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j.ballantyne1990-6AQqhLzZaK

Pantscraper Melbourne development set to transform skyline

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The online retail market is slowing, with sales declining over the year to April and also on a monthly basis, according to a NAB index.
Year on year growth slowed from a revised 10.5% in March (was 9.0%) to 6.9% in April, according to the NAB Online Retail Sales Index. The revised trend estimate for online retail sales is now virtually flat (0.1%), it said.
On a monthly basis, the index contracted in April by 0.8% on a seasonally adjusted basis, reversing a 0.8% growth in March. 
ABS data on traditional retailers showed month on month seasonally adjusted contracted in March (-0.1%), with year on year growth of 2.4%.  
“We estimate that Australian consumers have spent around $22.37 billion over the last 12 months to April 2017. This is equivalent to 7.3% of spending at traditional bricks &amp; mortar retailers, as measured by the ABS in the 12 months to March 2017,” said a note from NAB.
In line with the headline number, most categories slowed in April. 
<a href="https://www.propertyobserver.com.au/images/2017/05/31/NABRetailYoY.png" target="_blank">Click to enlarge</a>
<img src="https://www.urban.com.au/images/2017/05/31/NABRetailYoY.png" alt="">
<a href="https://www.propertyobserver.com.au/images/2017/05/31/NABRetailMoM.png" target="_blank">Click to enlarge</a>
<img src="https://www.urban.com.au/images/2017/05/31/NABRetailMoM.png" alt="">
Against the general slowing were: Homeware and appliances (10.4% yoy Apr vs 8.7% yoy Mar), Games and Toys(14.9% yoy vs  8.2% yoy) and Daily Deals (4.4% yoy vs -3.8% yoy). Media (16.3% yoy vs 16.6% yoy) maintained strong growth while previous  growth lead, Takeaway Food, slowed considerably (11.3% yoy vs 24% yoy).   Personal and Recreational Goods (3.4% yoy vs 14.4% yoy), Department Stores (3.4% yoy vs 8.4% yoy) and Fashion (2.4% yoy vs 4.9% yoy) also slowed but remained positive, whereas  Groceries and Liquor (-1.6% yoy ) is smaller this April compared to last.
<a href="https://www.propertyobserver.com.au/images/2017/05/31/NABRetailOnlinevsABS.png" target="_blank">Click to enlarge</a>
<img src="https://www.urban.com.au/images/2017/05/31/NABRetailOnlinevsABS.png" alt=""> 
<a href="https://www.propertyobserver.com.au/images/2017/05/31/NABRetailGrowth.png" target="_blank">Click to enlarge</a>
<img src="https://www.urban.com.au/images/2017/05/31/NABRetailGrowth.png" alt="">
SME sales represents just over a third of all online sales. While SMEs (-0.4%,mom s.a.) recorded less negative sales, the fall in growth was sharper given the March result (+1.5%, mom, s.a.). Year on year growth for SMEs (10.6%) is still stronger than Corporates (6.9%).
The data is seasonally adjusted where specified, with a leap year adjustment made for February 2012 and 2016.
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Online retail sales fell in April, reversing gains in March: NAB index

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Property sale numbers and figures increased slightly in the past three months, according to CoreLogic's latest Brisbane Cityscope.
The property data firm said the last three months to the beginning of May 2017 recorded 13 sales for a total of $441.6 million, with $429.2 million for commercial, $11.9 million for commercial strata and $500,000 for other.
In comparison, the three months to the beginning of February 2017 had 11 sales for a total of $329 million, with $191.2 million for commercial, $2.6 million for commercial strata, $99.6 million for retail, $1.6 million for retail strata and $34 million for other.
The 12 months leading up to the beginning of May 2017 recorded 57 sales for a total of over $1.4 billion, well below the recorded figure for the same time period the year before.
The table below shows sales recorded for the past eight updates of Brisbane Cityscope:
<a href="https://www.propertyobserver.com.au/images/2017/05/24/Screen%20Shot%202017-05-24%20at%2010.32.44%20am.jpg" target="_blank">Click to enlarge</a>
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/05/24/Screen%20Shot%202017-05-24%20at%2010.32.44%20am.jpg" alt="">
The most significant sales recorded this quarter were:
<ul>
<li>In December 2016 Eagle Street Investment Trust sold its one-third interest in One One One Eagle Street for $284,166,667 to GPT Funds Management 2 Pty Ltd as trustee for the Eagle Street Trust, which in turn is controlled by GPT Wholesale Office Fund. The 47-storey office building has six levels of basement car parking and was completed in April 2012; it was officially opened in August 2012.</li>
<li>The State Law Building at <a href="https://www.realcommercial.com.au/property-offices-qld-brisbane+city-501109743" target="_blank">50 Ann Street</a> (above) was purchased for $145 million by Propertylink Enhanced Partnership, with settlement due in May 2017. JLL, CBRE and Inc RE negotiated the sale which represented an initial yield of 8.18% on passing income of over $11.86 million. The building is leased by The State of Queensland and includes a cafe on the ground floor.</li>
<li>The whole of level 2 at 344 Queen Street was bought for $4.5 million by Kooee Mobile Pty Ltd.</li>
</ul>
<a href="https://www.propertyobserver.com.au/images/2017/05/24/Screen%20Shot%202017-05-24%20at%2010.33.16%20am.jpg" target="_blank">Click to enlarge</a>
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/05/24/Screen%20Shot%202017-05-24%20at%2010.33.16%20am.jpg" alt="">
Properties currently listed for sale include:
<ul>
<li>160 Ann Street – a 22-storey office building which was extensively refurbished in 2016. For sale by expressions of interest, closing June 1, 2017; agent, Knight Frank (Justin Bond and Neil Brookes) in conjunction with CBRE.</li>
<li>Unit 406 (lot 802), Oaks Festival Towers, 108 Albert Street – a 184 sqm unit on the fourth floor, with 15 sqm in the basement. Scheduled for auction on June 1, 2017; agent, Ray White Commercial Brisbane (Nick Wedge and John Dwyer). The unit was advertised with vacant possession from July 1, 2017.</li>
<li>Shop 15 (lot 38), Anzac Square Arcade, 198 Adelaide Street – an 82 sqm retail unit on the first floor. For sale with an asking price of $800,000; agent, CBRE Brisbane (Lachlan Tully and Callum Short).</li>
</ul>
Properties under contract (conditional or unconditional) include:
<ul>
<li>366 Queen Street – a four-storey office building which was built in 1984. Under conditional contract in early May 2017; agent, CBRE Brisbane (Tom O’Driscoll, Mike Walsh, Andrew Adnam).</li>
<li>545 Queen Street – a ten-storey office building plus a lower ground area to Adelaide Street. Under contract unconditionally for approximately $70 million; agent, Savills (Ben Azar).</li>
<li>Shop 22 (lot 34), Anzac Square Arcade, 198 Adelaide Street – a 67 sqm commercial unit on the first floor. Under contract unconditionally; agent, Blocksidge &amp; Ferguson Ltd (Tom Chan). The unit was advertised with an estimated fully leased income of $44,000 p.a net.</li>
</ul>
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Brisbane commercial property sales on the rise: Cityscope

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Alceon Captrans JV have sold regional Brisbane shopping centre, Town Square Redbank Plains for an estimated $160 million to Singapore based Rockworth Capital Partners.
Simon Rooney, JLL’s head of retail investments for Australasia said he is seeing a very clear trend towards offshore investors increasingly driving acquisitions of quality Australian sub-regional assets – a trend that’s been building and gaining momentum in 2017.
“Sub-regional retail is the preferred asset class for many offshore groups seeking quality retail exposure, given the defensive and resilient characteristics and positive in built growth outlook," he said.
"Assets which are predominately food, service and convenience-based, with a high proportion of non-discretionary retail and limited fashion, offer enhanced and consistent returns and limit trading volatility.
"The lower rental profile of sub-regional centres also provide attractive opportunities for income and capital growth, via asset repositioning and tenancy re mixing.
“The comparative attractive yield profile available in the Australian retail sector, continues to offer strong relative value for offshore investors as evidenced by the recent transactions of Town Square Redbank Plains to Rockworth Capital and Casey Central, also sold by JLL to M&amp;G Real Estate.
“Domestic institutions are also keenly pursuing sub-regional centres to secure above-benchmark total returns through active management and asset repositioning.
“The latest being the Charter Hall acquisition last week of Salamander Bay (NSW) for circa $175 million and reinforces the significant current interest in the sub-regional sub-sector.
Recent major sub-regional transactions above $50 million:
<table border="1" cellspacing="0" cellpadding="0"><tbody>
<tr>
<td>
Centre
</td>
<td>
Purchase price
</td>
<td>
Cap Rate
</td>
<td>
Sale date
</td>
<td width="68">
Vendor
</td>
<td width="71">
Purchaser
</td>
</tr>
<tr>
<td>
Redbank Plains Town Square, QLD
</td>
<td>
$160,000,000
</td>
<td>
6.25%
</td>
<td>
Dec-16
</td>
<td width="68">
Alceon Captrans
</td>
<td width="71">
Rockworth
</td>
</tr>
<tr>
<td>
Salamander Bay Centre, NSW
</td>
<td>
$174,500,000
</td>
<td>
5.80%
</td>
<td>
May-17
</td>
<td width="68">
Vicinity
</td>
<td width="71">
Charter Hall
</td>
</tr>
<tr>
<td>
Arana Hills Plaza, QLD
</td>
<td>
$67,100,000
</td>
<td>
6.00%
</td>
<td>
Dec-16
</td>
<td width="68">
ISPT
</td>
<td width="71">
Charter Hall
</td>
</tr>
<tr>
<td>
Casey Central, VIC
</td>
<td>
$220,750,000
</td>
<td>
5.25%
</td>
<td>
Dec-16
</td>
<td width="68">
Scentre Group
</td>
<td width="71">
M&amp;G
</td>
</tr>
<tr>
<td>
Campbelltown Mall, NSW
</td>
<td>
$197,000,000
</td>
<td>
6.00%
</td>
<td>
Sep-16
</td>
<td width="68">
Perron Group
</td>
<td width="71">
Charter Hall
</td>
</tr>
</tbody></table>
“Combined with the current circa $3.5 billion Blackstone retail portfolio sale process, the current series of transactions would be expected to drive retail investment activity in Australia to a new record high in 2017.”
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