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]

<h3 data-end="3697" data-section-id="q3n5ak" data-start="3672">&nbsp;</h3>
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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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I can’t see anything that would compel an investor to buy in Sydney right now, other than the FOMO (fear of missing out) syndrome.
Given four years of strong price growth in Sydney, and the proliferation of attractive alternatives around the nation, it’s not surprising that surveys indicate that many investors are looking elsewhere. The best time to buy in Sydney was 2012, ahead of the marauding pack.
But some people want to buy only in Sydney, especially those who live in the city and believe you have to buy in your own backyard (so you can drive by and keep an eye on it).
For people who think that way, the best strategy is the follow the infrastructure trail – particularly the one created by plans for the second airport.
The Federal Government announced in the Budget it would invest $5.3 billion into the Western Sydney Airport Corporation over the next 10 years. 
The corporation will build and operate the Western Sydney Airport, with earthworks expected to start on the 1,800 hectare Badgerys Creek site in the second half of 2018.
Even more important than the airport itself is what will be created around it. Big city airports generate massive employment nodes featuring businesses that want to be near it.
Commercial and industrial businesses will be clambouring to get a foothold near the airport facility. We’ve already had American defence company Northrop Grumman announcing it will invest $50 million to create a centre of excellence in the Badgerys Creek precinct.
Expect a lot more announcements like this. Many businesses will be established there before the first plane takes off.
Sydney Business Chamber’s western Sydney director David Borger says: “I think it is really significant. We’ve always thought this airport area could be an aerotropolis or airport city with lots of jobs nearby, and one of the areas that has great potential is aerospace and defence.
“To have, within a week of the government deciding to build the airport, a decision by the private sector to establish a centre of excellence in aerospace and defence is fantastic news and we hope it will be the start of a massive business park in the precinct around the airport.”
Borger says the big winner may be western Sydney families, with the aerotropolis set to create thousands of local jobs and a better lifestyle. “The biggest challenge facing western Sydney is the jobs deficit of 300,000 people,” he says. “People have to get out of the region for work, so the airport could be a real game-changer.”
Exactly. People want to live close to where they work, so demand for real estate will be strong as the Badgery’s Creek precinct evolves.
We’ve already seen considerable impact. Residential land values in the outer-western suburbs of Sydney have close to doubled over the past five years, with the Badgerys Creek airport as the prime influence.
A NSW Valuer-General’s report shows that housing land in outer-western suburbs including Mulgoa, Luddenham, Bringelly, Horsley Park and Rossmore has become highly sought-after residential property — in some cases rising in value above city trends. 
The biggest jumps in valuation have been over the past two years, in the time since (then) Prime Minister Tony Abbott announced that Badgerys Creek would be the site of the second airport.
The Valuer-General’s data shows the biggest gains in land value have occurred south of Badgerys Creek at Bringelly.
The value of one 2ha rural property jumped from $700,000 in 2012 to $1.45 million last year. A 1018m2 property’s value jumped from $270,000 to $592,000 over the same period.
The value of a typical block in Luddenham almost doubled in value between 2012 and last year, from $475,000 to $924,000, while the value of another Luddenham site rose from $755,000 to $2.7 million.
We can expect this kind of capital growth to continue as the airport – and the employment nodes that will spring up around it – get closer to reality.
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

Local property price growth takes off around Badgerys Creek: Terry Ryder

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Coffs Harbour in New South Wales is approaching the peak of market position for offices, according to valuation firm Herron Todd White's April report, which focuses on the office market.
The office market in Coffs Harbour features an oversupply with limited enquiry for leasing at stable or slightly softer rental levels. 
There are a number of office project developments on hold until pre-sales or leasing is effected. These projects range from smaller strata title office projects to larger developments. The eastern precinct of the CBD remains prime with rental levels of $330 per square metre to $400 per square metre. 
Secondary or dated offices remain difficult to let. The impacts of reduced government spending, limited availability of grants and the retractionist policies are clearly evident in the Coffs Harbour regional office market. 
There is a lack of sales and leasing transactions within the office sphere of the market. Generally yields within Coffs Harbour remain firm based on the prevailing low interest rate climate. 
Leasing activity is restricted with serious owners having to offer lease up incentives or rent-free periods to attract quality tenants. 
As an example, a commercial building leased to a law firm at <a href="https://www.realcommercial.com.au/property-offices-nsw-coffs+harbour-502317902" target="_blank">134 West High Street</a> in the CBD recently changed hands for an undisclosed sum.
The tenant pays all outgoings and the property earns a net Income of $186,500 pa + GST.
 <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/2017/04/21/CoffsHarbour.jpg" alt="">
The selling agents were Rhys Parker of Burgess Rawson and Troy Mitchell of LJ Hooker Commercial.
 
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jonathanchancellor-7SQnKwU6yx

Coffs Harbour office market is oversupplied with limited leasing: HTW 

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The Melbourne industrial market has opportunities for first time industrial investors with affordable price points throughout the outer suburbs, according to valuation firm Herron Todd White’s May review.
Investor opportunities are most notably outside the Metropolitan Ring Road to the west and north, east of the East Link Tollway and south-east of South Gippsland Highway. These include suburbs such as Cranbourne West, Kilsyth, Epping and Ravenhall. 
“Such locations are favoured due to their price affordability, proximity to amenities and access to main road linkages as well as nearby developing residential areas,” say HTW in their report.
So far in 2017, the industrial market in Melbourne has been tracking well, with a noticeable increase in values over the previous 12 months, it adds. 
The market has been assisted by continually low interest rates, low rental levels which continue to be stable and an increasing demand for smaller warehouse units. 
This increasing demand for small strata title warehouse units often appears to be for purchasers looking to create their own man cave without losing any space at their primary business location or at their family home. 
Increased infrastructure spending has also impacted on property values in a positive direction, with the widening of the Tullamarine Freeway, Monash Freeway and the beginning of the Western Distributor project, among others, assisting transportation and logistics businesses throughout metropolitan Melbourne. 
“In light of the above, we consider a good industrial investment property to be identifiable through these basic property fundamentals: 
<ul>
<li>Good access </li>
<li>No oversupply </li>
<li>Small to medium sized property </li>
<li>Good traffic management </li>
<li>Good ingress and egress </li>
<li>Access to sufficient parking </li>
</ul>
A property lacking in a number of the above areas would be considered unfavourable and less sought after in the market place. The industrial property market is expected to be fairly positive throughout 2017. 
Provided there is no oversupply or external shocks to the market, with population growth and increases to lower levels of the economy, property values are likely to continue growing in the short to medium term, the report concludes.
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Melbourne’s industrial market offers affordable options to new investors: HTW  

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Commercial property sales in the Docklands have decreased in number and in total sales value, according to CoreLogic’s Cityscope.
For the quarter to January 2017, there were eight sales at a total sales value of $78.8 million, compared to 10 sales at a total value of $186 million for the previous quarter, said the property data firm. 
The yearly figures have declined in number and total value, with 37 sales at a total value of $297.8 million for the twelve months to January 2017, compared to 51 sales at a total value of $524.6 million for the previous year.
The table below shows sales recorded for the past eight updates of Docklands Cityscope.
<a href="https://www.propertyobserver.com.au/images/2017/02/02/Corelogic-1.jpeg" target="_blank">Click to enlarge</a>
<img src="https://www.urban.com.au/images/2017/02/02/Corelogic-1.jpeg" alt="">
Notable sales in the January 2017 update of Docklands Cityscope include:
<ul>
<li>The Gauge at 825 Bourke Street, an eight-storey office building completed in 2008 and with a net lettable area 10,362 sqm, which sold for $72.7 million through Colliers International and</li>
<li>Unit 13 in The Palladio at 42 Newquay Promenade, a 323 sqm retail area on the south-western corner of the property, a series of integrated buildings with ground floor retail units and apartments above, which was bought for $2 million through MP Burke Commercial – Melbourne.</li>
</ul>
<a href="https://www.propertyobserver.com.au/images/2017/02/02/Corelogic-2.jpeg" target="_blank">Click to enlarge</a>
<img src="https://www.urban.com.au/images/2017/02/02/Corelogic-2.jpeg" alt="">
Properties listed as for sale in the January 2017 update of Docklands Cityscope include:
<ul>
<li>Shop 1 at 439 Docklands Drive, a 200-sqm retail premises on the ground floor of the west building available with an asking price of $1.8 million through No Agent Property – Moorabbin;</li>
<li>Suite 815 at 401 Docklands Drive, a commercial unit on the east corner of level 8, Suite 816, 401 Docklands Drive, a commercial unit on the west corner of level 8, Suite 817, 401 Docklands Drive, a commercial unit on the east corner of level 8 and Suite 818, 401 Docklands Drive, a commercial unit on the south-east corner of level 8 available together through Colliers International – Geelong.</li>
</ul>
Leasing opportunities listed in the January 2017 update of Docklands Cityscope include:
<ul>
<li>737 Bourke Street, an 11-storey building completed in late 2008, comprising 16,000 sqm of office space and 1,100 sqm of retail premises plus basement car parking for 231 cars, has 1,300 to 1,345 sqm for lease through CBRE – Melbourne and Investa Property Group;</li>
<li>The Gauge at 825 Bourke Street, an eight-storey office building completed in 2008 with ground floor car parking, has office space of 335 to 1,508 sqm for lease through CBRE – Melbourne and</li>
<li>380 Docklands Drive, an A-Grade, 11-storey office building with parking, has office space of 1,000 sqm for lease Colliers International – Melbourne and CBRE – Melbourne.</li>
</ul>
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j.ballantyne1990-6AQqhLzZaK

Docklands commercial property sales down in value and number: Cityscope

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The 2017 retail market on the Sunshine Coast will likely continue in the same vein as the past six months, according to Herron Todd White’s recent report.
The property valuation firm says that the following things will most likely occur:
<ul>
<li>Demand for sub $2 million well leased retail properties is likely to remain strong.</li>
<li>Supply of these properties should remain tight with owners having few reasons to sell.</li>
<li>Demand for properties over this level are highly dependant upon tenant strength, however we are seeing transactions occur for older premises with either redevelopment potential or the potential to refurbish and re-let.</li>
<li>Vacancy levels in the prime locations of Hastings Street, Mooloolaba Esplanade, Cotton Tree and David Low Way, Coolum Beach are expected to remain tight. Rental rates in these areas may experience upward pressure.</li>
<li>Within the bulky goods market, vacancy levels are decreasing after significant supply added during 2015 and 2016.</li>
</ul>
Recent transactions in the market include:
<ol>
<li>Tewantin Woolworths for $17.3 million at a yield of 5.76% in November 2016.</li>
<li>Subway Maroochydore for $1.46 million at a yield of 5.63% in November 2016.</li>
<li>Retail Strata, Mooloolaba Esplanade at $1.55 million, yield of 7.41%, transacted December 2016.</li>
<li>Bulky Goods Strata, Noosaville for $4.2 million, yields 7.32%, deal struck November 2016.</li>
</ol>
The Point, Buddina is a 2,500 square metre retail development comprising 15 tenancies ranging in size from 12 square metres to 680 square metres.
Asking rentals range from $450 to $1,800 per square metre net per annum. Construction has commenced with some pre-leasing commitments achieved.
"The only caution in the market remains that as yields compress, whether there is a big enough yield differentiation between primary and secondary assets," the report said.
The retail sector in Gladstone for 2017 is forecast to continue at a similar pace to 2016, with rationalisation of rentals to more affordable and maintainable levels for local retailers and continued high vacancy levels in secondary locations.
“We do not consider this is likely to change pace until there is commencement of substantial new local projects,” the report stated.
Whilst there is still no announced start date for the Stockland redevelopment (approved in 2014), some positive news to the retail sector is the opening of the new Aldi store on the corner of Boles Street and Breslin Street.
The store is set to open in early March. Property sales activity is likely to remain slow.
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Sunshine Coast's retail market has strong appetite for sub-$2 million properties: HTW 

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Office vacancy in Sydney's Chatswood is expected to increase throughout 2017 as a number of whole floor opportunities enter the market, according to Colliers International’s latest Metro Office report.
It noted Leighton vacated 799 Pacific Highway and Lendlease will be relocating to Barangaroo from The Zenith.
Vacancy has already increased from 6.6 per cent to 7.7 per cent in the six months to January 2017 with negative net absorption of -3,310 sqm.
"As a result we expect incentives to remain stable throughout 2017,” the report stated.
A Grade property rents have increased slightly over the last six months, Colliers says.
“In the six months to March 2017 average A Grade net face rents increased marginally at 1.5 per cent settling at $510 per sqm, while incentives increased from 24 per cent to 25 per cent as a result of increased vacancy.
"We expect to see owners splitting floors and offering speculative fit-outs to drive demand in the sub 500 sqm range as heightened competition remains for whole floor space. The Zenith is already seeing success with this strategy,” the report said.
A 86 sqm office at <a href="https://www.realcommercial.com.au/property-offices-nsw-chatswood-502363334">47 Neridah Street</a>, Chatswood (above) has been listed for $825,000.
Similarly, a boutique freehold office at <a href="https://www.realcommercial.com.au/property-offices-nsw-chatswood-502252494">754 Pacific Highway</a>, Chatswood (below) has been listed for sale.
<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/2017/05/02/754%20Pacific%20Highway.jpg" alt="">
A 247 sqm office at <a href="https://www.realcommercial.com.au/property-offices-nsw-chatswood-502192670">2/9 Railway Street</a>, Chatswood (below) was recently sold in April.
<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/2017/05/02/29%20Railway%20Street.jpg" alt="">
Similarly a 118 sqm office at <a href="https://www.realcommercial.com.au/property-offices-nsw-chatswood-502174514">Suite 603, 7 Help Street</a>, Chatswood was recently sold in April.
<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/2017/05/02/Suite%20603%207%20Help%20Street.jpg" alt="">
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Office vacancy in Sydney's Chatswood expected to increase: Colliers

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Melbourne and Coffs Harbour are approaching the peak of market cycle though there are none at the peak position, according to valuation firm Herron Todd White's industrial property clock for May.
There's none in the 'starting to decline' category as well, although competition is hot in the rising market position, with Sydney also a rising market. 
The others in this category are Hobart, Ballarat, Bendigo, Burnie, Devonport, Echuca, Gold Coast, Launceston, Lismore and Sunshine Coast. 
There are no changes to the clock as well in terms of positions. Two capital cities, Adelaide and Darwin, are at the bottom of the cycle with Perth approaching the bottom of the market as well. 
 
<a href="https://www.propertyobserver.com.au/images/2017/05/19/Screen%20Shot%202017-05-19%20at%2011.10.35%20AM.png" target="_blank">Click to enlarge</a>
<img src="https://www.urban.com.au/images/2017/05/19/Screen%20Shot%202017-05-19%20at%2011.10.35%20AM.png" alt="">
Two other capital cities, Brisbane and Canberra, are at the start of the market recovery period, the clock shows. Others in recovery mode are Cairns, NSW Central Coast, Horsham, Mildura, Rockhampton and Tamworth.
While Coffs Harbour may be approaching the peak of the industrial market cycle, the rental market remains price sensitive with a broad range of rents being achieved which confirms the uncertainty in the market, say HTW. There remains a slight oversupply of smaller industrial bays in the lower price bracket and valuations of poorly leased property will invariably be lower than those with vacant possession for this owner-occupier dominated market. This is not the case for larger properties where investors are active and the strength of leases is vital to yield and value levels. 
There has been a low sale offering of large industrial property in 2017 and subsequently low volume of transactions. Available sales indicate firm yields, echoing the low interest rate climate. There is some development activity within the prime estates, with most purpose built to end user requirements. Land prices in Coffs Harbour should continue to trend upwards as supply diminishes, say HTW. 
So far in 2017, the industrial market in Melbourne has been tracking well, with a “noticeable increase in values” over the previous 12 months, according to HTW. The market has been assisted by continually low interest rates, low rental levels which continue to be stable and an increasing demand for smaller warehouse units. 
The industrial property market is expected to be fairly positive throughout 2017, says HTW, provided there is no oversupply or external shocks to the market.
 
 
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Melbourne, Coffs Harbour approaching peak of industrial market cycle: HTW May clock

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A three bedroom penthouse in the Esplanade residential development on Norwest Lake in Sydney's Hills District sold for more than $3 million.
The previous sales record was $2.35 million, paid for a penthouse in the Northpoint Apartment building in October 2014.
The penthouses in the Esplanade have been dubbed vertical homes in the sky, with three-metre-high ceilings, wintergardens to enjoy the large balconies all year round and luxurious finishes.
The penthouse range is priced between $2,000,000 and $2,950,000.
Steve Grant, executive chairman, Capital Bluestone, said in the same week this record sales price was set, another three-bedroom apartment in Esplanade sold for $2.5 million.
“We’re seeing a real willingness from people in the Hills to make a lifestyle choice and opt for a low-maintenance, low-hassle way of living that comes with an apartment,” he said. 
“Over the past 30 years, we’ve built our reputation on providing high-quality developments in the Norwest area and I’m thrilled these buyers want to be a part of Esplanade and trust that we’ll deliver an enviable place to call home.
“Esplanade offers second-to-none features like an infinity pool and spa, an outdoor cinema, lush landscaped areas for socialising and relaxing, cabanas, barbecue areas and a gymnasium – so I think these buyers have recognised the rare opportunity to enjoy such a resort-like lifestyle in The Hills.
“There’s no denying there is a strong appetite for apartment living in Norwest and that’s reflected by these incredible results – people recognise a unique project and want to be at the forefront of Norwest’s transformation into a thriving urban hub.”
“The ground floor retail and dining precinct at Esplanade has been a huge drawcard as there is nothing easier than simply popping downstairs for a meal after a long day.
"We’re also finding that people are confident they’re making a good investment when they consider the Norwest Metro Station under construction is only 400 metres from Esplanade and the business park is undergoing an incredible transformation with a new shopping centre on the way.”
Two bedroom apartments available from $780,000 to $1,165,000 with three bedroom units ranging from $1,165,000 to $1,375,000. 
For more information, visit <a href="https://esplanadenorwest.com.au/" target="_blank">esplanadenorwest.com.au</a>. 
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Esplanade penthouse sales smash The Hills record

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US co-working provider WeWork’s entry into Melbourne hasn’t fazed Servcorp, which says it is a luxury brand in the flexible office ecosystem.
Servcorp is a co-working, serviced and virtual office provider.
Both Servcorp and WeWork have established themselves internationally - with locations in 54 and 36 cities, respectively, according to a media release.
Earlier this year, WeWork leased into the iconic art deco building at 401 Collins Street owned by fund manager Impact Investment Group, taking the building’s rooftop and the entire nine floors of commercial space.
Its arrival in Melbourne is part of a rising trend of co-working spaces in the city. Last year, Hub Australia opened Victoria’s largest coworking space, Hub Southern Cross, in Melbourne, spread across 3,900sqm and two floors of the historic Mail Exchange building.
Servcorp says it differentiates itself from WeWork’s hot-desking model with “limited technology”, by providing organisations with a dedicated team of in-house administration and IT professionals to ensure a smoother experience, it said.
“At Servcorp, we also recognise that networking can bore opportunities, but we go further than just providing a fun place to network. We provide the platform to make these interactions happen,” it said.
Its new Community platform (servcorpcommunity.com) allows all 35,000+ Servcorp clients across borders to engage, collaborate and network, said Servcorp’s chief operations officer Marcus Moufarrige.
“Servcorp has thrived based on the premise that a prestigious address, the right support network, backed by technology gives new businesses a leg up,” Moufarrige said.
“It’s all about first impressions and accessibility. A recognisable address backed by team and technology creates a great impression of stability, of strength and permanence,” he added.
It has a standardised technology suite including Wi-Fi, printing and telecommunications. Other features include in-house IT support; call-routing technology; global VOiP and cloud hosted services. 
A start-up can access this level of technology via Servcorp’s Virtual Office starting from $50 per month.
For start-ups and SME’s the benefit is to tap into a global infrastructure providing a platform to really compete and for large corporations, it means a seamless transition and integration with Servcorp.
Servcorp has invested USD $100 million on a global communications network and offers “super-fast internet”, “business-class printers”.
Its travelling members have access to over 155+ office buildings and their proprietary technology, with support teams at every location to give clients a seamless experience.
“We have more team members on the ground than anybody else in the industry.
“Every location has at least 2 to 5 team members (depending on size) to help clients run their day-to-day, such as answering all their phone calls so they never miss a lead, administration so they can focus on what matters most, and other secretarial services that improve the quality of their working life”, said Moufarrige.
The two companies contrast in their approach, says Servcorp. 
WeWork is known for its “pop culture”, and caters to venture capital start-up companies, which is risky and more susceptible to market downturns.
Meanwhile, Servcorp supports start-ups as well as global corporates.
Its locations are also “landmark addresses with iconic views… and state-of-the-art communications technologies”, it said.
This has allowed the brand to remain resilient and nimble in the face of a rapid increase in co-working office solutions on the market, it said.
The company welcomed WeWork’s entry into Melbourne. 
“Competition is healthy. In fact, WeWork’s entry into Australia has been great for the entire industry.
“It’s made people aware of other options to traditional real estate,” said Moufarrige.
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Servcorp unfazed by Melbourne launch of co-working provider WeWork

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Sydney's eastern suburbs prestige home auction market faces testing times.
Estate agents are concerned the top end enters the winter hibernation with a serious overload of unsold stock.
Winter traditionally sees reduced activity as buyers and agents head overseas for holidays.
The eastern suburbs has dozens of stale listings on websites and off market.
There are 12 forlorn offerings sitting on the website of the leading eastern suburbs' listers, Sotheby's International with $10 million plus hopes.
The recent $13 million plus sale of the Bellevue Hill mansion of Japanese developer Kemmori “Alex” Yasumoto and his wife Sacha to the Berger family is hoped as the icebreaker sale on the sales impasse.
Michael Pallier secured the sale of the 2000-square-metre property on Suttie Road after seven months.
But another offering, in Rose Bay has been with its Sotheby's listing agent since 2014.
Another in Vaucluse was listed in late 2015 by agent Michael Pallier.
The home at 70 Wentworth Road had an initial price guide of more than $30 million.
The five-bedroom house on more than 1400sq m of harbour front land was listed by downsizers.
“They are empty nesters, their children have grown up, left home and they’re ready to pass the baton on to next person,” Pallier said at the time of 2015 listing, adding there had been interest from both local and overseas buyers which had buoyed hopes it would sell over the before the 2016 New Year.
“That pocket along there — there’s only a limited number of those prized, deep water front houses and they rarely come onto the market.”
But it was still there when the local paper advised Pallier hasn’t inked a deal yet in February this year, but noted he advised the $33 million five-bedroom waterfront abode at 70 Wentworth Rd had been particularly popular with Chinese buyers here for the Chinese New Year celebrations.
“They dream of being able to fish from the front garden or jetty,” he said.
Pallier was described in the spiel as a "listings machine" by his wife, Lu Lu who said she brings the buyers.
Pallier described this year’s Chinese New Year as "the strongest we’ve ever seen” in terms of inquiry from Chinese buyers and inspections.
But rival agents suggest the level of unsold stock pitched at the Chinese buyer was a sign of trouble in the market.
It is not just harbourside as last October a Tamarama Marine Drive, Tamarama building block was listed by Marco Rossi, chairman and founder of the construction company Built.
There were $15 million expectations for the property Rossi bought back in 2007 for $11 million through the Blacket Agency, setting a record for the suburb at the time.
He demolished the existing building and excavated at a cost of around $1 million.
Plans for the five bedroom home include an eight-car garage and a lift from the street frontage are estimated to cost another $7 million.
They were designed by internationally renowned architect Wallace E. Cunningham.
In March the private auction for the blue blood Hordern family's longheld Bellevue Hill trophy home didn't go ahead.
The Ginaghulla Road home was set for a private auction through Sydney Sotheby's James McCowan, but was pulled and remains for sale.
Heritage-listed, the iconic eight bedroom home was built as a wedding gift to June Baillieu and Samuel Hordern, who united two of Australia's most prominent families.
One of Sydney's most famed architects Professor Leslie Wilkinson was commissioned to design the home some 80 years ago.
The home, still etched with the Hordern family coat of arms, is set behind a walled entry with a forecourt in a church-style.
Another unsold offering is the redundant Point Piper home of BRW Rich Lister Paul Lederer and his wife Eva which was listed last December with $20 million hopes.
The Wyuna Road property was designed by architect John Suttor and purchased by the Lederers in 1992 for $2.8 million from businessman Charles Scarf and his wife Maria.
While the $10 million plus market appears stalled, valuers HTW recently noted the Sydney prestige property market, generally considered to be properties above $3 million, has continued its strong performance into 2017.
It pinpointed Bellevue Hill in Sydney’s east has having a total of 70 dwelling sales in the past 12 months with a median price as at April 2017 of $4.777 million.
HTW noted factors which have been driving the prestige market included a limited supply of quality stock coming on to the market and a sustained period of high auction clearance rates in prestige suburbs.
Savills recently noted prices in Sydney’s luxury eastern suburbs markets continued to increase in the first quarter of 2017, "albeit at a slower rate than seen across Greater Sydney."
The luxury property market increased by 1.2 percent over the three months to March 2017, taking annual growth to 8 percent.
This compares to a quarterly and annual growth of 5 percent and 18.9 percent respectively for Greater Sydney, according to Corelogic.
Savills says this outperformance was partly due to the price differential.
"The median price of properties in the luxury index is over $7 million compared to $795,000 across the wider Sydney market," it noted.
"The luxury eastern suburbs markets are less dependent on affordability - instead, the market is driven by global flows of wealth and a supply versus demand balance," Savills International head of research Sophie Chick said.
Savills calculated across the luxury market in the eastern suburbs the average price per square metre (internal and external) is $16,600.
For a property on the waterfront, that increases to $24,800, a 50 percent premium.
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