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

Joel Robinson

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

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

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

Maréa Residences brings parkside apartments to Coolangatta

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

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

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

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

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

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

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A fully leased, boutique style office building at 21 Yarra Place, South Melbourne, is on the market through an expressions of interest campaign with expectations of around $4 million.
The property, designed by Hayball Architects, is a four level building,with natural light, secure parking for eight vehicles and CBD and Port Phillip Bay views. 
Features include a timber façade, ultra-modern fit-out, eco-friendly materials and an internal vertical garden.
The property is fully leased to Caramel Creative on a new five year term with two five year options at a current net annual rental of $168,000.
Savills marketing agent Clinton Baxter said the expected a high level of interest from investors looking for a very well located property with strong growth prospects and rental upside. 
"This property has all the credentials that attract serious investors," he said.
"It is located in a blue chip suburb only a short distance from the CBD, the building is near new with generous depreciation benefits and is fully leased with strong rental growth potential."
Expressions of interest close 2pm Wednesday, June 7.
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jonathanchancellor-7SQnKwU6yx

Yarra Place office property listed for sale with $4 million expectations

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There are no suburbs that are at the peak of the market for the office market, according to Herron Todd White’s latest report.
The property valuation firm says that this shows that there has been no change in the office market since last month.
<a href="https://www.propertyobserver.com.au/images/2017/05/03/Screen%20Shot%202017-05-03%20at%201.20.28%20pm.jpg" target="_blank">Click to enlarge</a>
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/05/03/Screen%20Shot%202017-05-03%20at%201.20.28%20pm.jpg" alt="">
Melbourne and Coffs Harbour continues to be approaching the peak of its market with Adelaide, Darwin, South East NSW, Townsville and Wide Bay at the bottom of the market.
Meanwhile Alice Springs, Gippsland, Newcastle and Toowoomba’s office market is starting to decline.
Last month Property Observer reported on the office market and that several suburbs are on the way to the top.
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j.ballantyne1990-6AQqhLzZaK

No changes in office property market clock: May HTW clock

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A retail property in Carnegie, Melbourne, has sold for $3.35 million.
The 66 Koornang Road property comprises a land area of 212 square metres and a building area of 150 square metres is leased to a Vietnamese restaurant trading as Pho 66.
The lease returns $84,872 per annum plus outgoings and GST and the sale reflected a yield of 2.53 percent.
Fitzroys agents Chris Kombi and Chris James said the sale reflected a land rate of $15,800 per square metre.
Kombi said the property attracted more than 150 buyer enquiries and had seven bidders at auction.
"The property is located just metres from the new Carnegie Railway Station currently under construction, which is part of the state government's $5 billion level crossing removal initiative and due for completion in 2017,” Kombi said.
"The property’s future value is underpinned by a rapidly growing residential catchment with a major transformation currently underway within the Koornang Road Activity Centre with a number of high rise residential developments completed nearby and approximately 15 others in various stages of planning and development."
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Fierce bidding for Carnegie Vietnamese restaurant

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Cushman &amp; Wakefield has been named leasing agents for the ground level retail space at 160 Pitt Street Mall.
The retail space, sized 440 to 450 sqm, has 13m frontage and is owned and occupied by Washington H. Soul Pattinson.
Pitt Street Mall ranks as the 7th most coveted retail destinations world-wide according to the most recent Cushman &amp; Wakefield Main Streets Across the World research, and ranks 3rd in the Asia-Pacific region on a rate per square metre. The average trading figures for the mall currently average at $70,000per square metre.
Ben Tremellen, national director, retail leasing for Cushman &amp; Wakefield, said the site is steeped in iconic retail heritage.
“With the last major lease fronting Pitt Street Mall being the launch of Microsoft’s flagship store in November 2015, and unprecedented moves by global retailers such as Uniqlo taking first floor space, we expect this unique ground floor opportunity to generate a huge amount of local and international interest," he said.
"Ground floor spaces in any the world’s top 10 retail precincts are extremely rare.
“The fact that Pitt Street Mall remains one of the most tightly held retail precincts globally, and with development activity ramping up around King and Castlereagh Streets, the traditional boundaries of the retail core continue to expand. 
Expressions of interest are slated to begin mid June.
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Iconic Pitt Street Mall leasing opportunity to come

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ASX-listed cleaning and security specialist Millennium Services Group Limited has agreed terms on a new office lease at Mt Waverley in Melbourne’s south-east in a deal brokered by Savills Australia.
The Level 1, 205- 211 Forster Road property comprises 700 sqm of fully-fitted and furnished office space.
Millennium will pay circa $186,000 per annum net on a five year term.
Savills’ Daniel Kelly, who negotiated the deal, said the tenant would relocate from Toorak and needed additional room to cater to business growth.
“Millennium needed expansion space and found it in a modern, three-year old building which is fully fitted and furnished, and very close to the Monash Freeway providing exceptional road transport access,’’ Kelly said.
The lessor was a private Melbourne investor.
 
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Millennium takes Mt Waverley office lease through Savills

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A 7-Eleven in Melbourne’s Heathmont is up for grabs at auction on May 18 through Colliers with expectations of more than $2.5million.
The convenience store on the corner of Canterbury Road and Campbell Street is fully leased to the 7-Eleven franchise on a 10-year term until July 2021, with one five-year option to renew.
The 1,091 sqm property makes a rental income of about $115,755.30 per annum, with an annual increase of three per cent.
He said she had already received strong interest from Melbourne-based investors wanting to shift their focus to commercial assets.
The listing agents are Colliers International’s Jeremy Gruzewski, Dorothy He and Ben Baines. 
“The retail property market in Melbourne’s outer-eastern suburbs has traditionally been viewed as a natural fit for many local investors, who look for secure and consistent investment returns,” said Dorothy He.
“With historically low interest rates and a lack of attractive alternate options, yield-chasers are still looking favourably into commercial properties that deliver stable income streams.”
Developers had also expressed interest in the property, with the initial intention to landbank and the long-term view to redevelop.
“Its general residential zoning is being proposed for change into mixed-use zoning under the Heathmont Neighbourhood Activity Centre Structure Plan, which is expected to open up wider possibilities,” she said.
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7-Eleven in Melbourne's Heathmont goes to auction

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Sam Arnaout has emerged as the buyer of the iconic vineyard and winery Dalwood Estate near Branxton.
The boss of Iris Capital paid $3 million plus for the 104 hectare property that fronts the Hunter River.
Established in the 1800s, the property with sandstone winery buildings and a concert amphitheatre is accredited as among the Hunter Valley's oldest wineries.
It was the site of some of the first vines planted in the colony by George Wyndham who also built the now heritage listed Dalwood House.
Pernod Ricard closed the tourism facilities known as Wyndham Estate in October 2014, citing commercial reasons for their decision.
Another purchase last year came when Arnaout bought the prized Sweetwater estate at Pokolbin. It's wines are now served at the Fountain Cafe.
The 48 hectare Pokolbin property came with initial hopes of $30 million, but $12 million was its last price guidance.
It produces Cabernet Sauvignon and Shiraz on 16 hectares. 
Arnaout bought the Kirby family Hungerford Hill boutique winery for $4.4 million.
He also owns 1.66 hectares of prime real estate in Newcastle's Hunter Street mall.
Arnaout, who entered the hotel industry in 1995, has a whole-floor penthouse in the Bennelong apartment complex which was bought from Margaret Maloney, the widow of the hotelier Cyril Maloney for $18 million in 2015.
Iris Capital owns expanded site, The Bourbon in Potts Point. 
The king of the emerging Kings Cross residential rejuvenation, has been quietly amassing a huge building site at Kings Cross's northern end around his Bourbon Hotel premises.
His Kings Cross purchases now total $66 million.
This article first appeared in the Sunday Telegraph.
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Sam Arnaout revealed as Dalwood Estate winery buyer

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Salta Properties’ business precinct in Melbourne’s Mulgrave, Nexus Corporate, will offer property management platform Equiem to its tenants, making it the first ever business precinct in Australia to adopt the software.   
Equiem is a customer-focused property management platform that bridges the information gap between occupant and owner, and is expected to allow Salta to fully understand tenant needs and tailor its customer experience.
On completion, Nexus Corporate will offer in excess of 120,000 sqm of premium office space, which makes it the largest suburban office precinct in Victoria with an end value of more than $800 million.
Managing director Sam Tarascio said Salta was committed to innovation and listening to customer needs.
“Tenant satisfaction is always top of mind and we are pleased to offer a service that will provide us with a better understanding of their needs and ultimately benefit the 4,000 employees who call Nexus home,” said Tarascio.
Tenants at Nexus include Adidas, Nestle, IAG, GS1, CBRE, ADP, Carlisle Homes, Bristol Myers Squibb, Nestle Heath Sciences and Renault. 
Equiem’s platform will allow the tenants a tailored concierge portal and services such as online ordering from retailers including Nexus’ two onsite cafés, catering for meetings, car wash and dry cleaning services.
There is a full-time Equiem community manager who will be responsible for customised tenant engagement programmes.
Equiem CEO Gabrielle McMillan said they were forward to expanding its offering to include more than just high rise buildings.
“At Equiem we pride ourselves on connecting different businesses as one community. Nexus Corporate provided a new challenge where the precinct is spread horizontally rather than vertically, however the fundamentals remain the same, it's about convenience, community and connection,” said McMillan.
Due to launch in May 2017, Salta Properties will be able to unlock deeper engagement with all tenants and provide an enhanced service offering.
 
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Salta Properties offers tenancy platform at Mulgrave business precinct

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A two-storey building adjoining North Brighton Train Station has sold under the hammer for $2,255,000.
The 206 square metre site comprises a ground floor café and first floor office accommodation.
The property is zoned commercial 1 and sold on a sharp 3.3 percent yield with a new lease to the café Too Many Chiefs, with other tenancies consisting of first floor offices, and external signage.
The site has a frontage of greater than 50 metres to North Brighton Train Station, and a public car park at rear.
Fitzroys division director Mark Talbot said that the sale set a Bay Street, Brighton record for a single-front property on Bay Street.
Talbot said there was fierce competition amongst three bidders who were keen to capitalise on the property’s positioning on the Brighton shopping strip.
“The precinct is surrounded by an established residential community that is slated for further population growth, and has a number of top-class education facilities nearby,” he said.
Talbot said the vendor was Realgrade Pty Ltd, with the buyer a local investor.
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Bay Street, Brighton cafe sells under the hammer

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Contraction has been the underlying theme in Adelaide’s office market in the past 12 months and the large vacancies created by multi-national tenants have caused a ripple effect down into the below $10 million market, according to valuation firm Herron Todd White’s latest April update.
Not surprisingly, Adelaide is at the bottom of the market cycle in HTW’s commercial property clock for offices.
Over the past 12 to 24 months, the downturn in business activity throughout South Australia has created vacancies with the likes of Santos, BHP and Telstra all contracting their tenancies into smaller, compact areas. 
Investment activity within prime assets that provide secure lease covenants and long WALEs is expected to remain strong over the next 12 months. 
“Similarly, we don’t anticipate there being a significant change to the risk-averse pricing of lesser quality assets being 30% to 40% below prime assets,” say HTW.
However, the construction phase in the CBD office market is coming to an end. There are a few major projects due to in the short to medium term: 
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<li>
<a href="https://www.realcommercial.com.au/property-offices-sa-adelaide-501486447" target="_blank">Frome Flinders office building</a> is now finished and part occupied by Grant Thornton. </li>
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 <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/HTWAdelaide.jpg" alt="">
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<li>113-115 King William Street, Adelaide’s sixth tallest building at 25 levels and 5,799 square metres.  </li>
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The completion of these building has contributed to the increase in Adelaide total vacancy to 16.2% from 15.4% in January 2017. 
There are analysts reporting that the contraction of space has slowed and with the limited planned addition of space, that vacancy will contract over the next 12 months. 
When you break down the vacancy rate, the majority sits in lower grades. 
<a href="https://www.propertyobserver.com.au/images/2017/04/21/AdelaideMktSummary.png" target="_blank">Click to enlarge</a>
<img src="https://www.urban.com.au/images/2017/04/21/AdelaideMktSummary.png" alt=""> 
 <img src="https://www.urban.com.au/images/2017/04/21/AdelaideOfficeGrade.png" alt="">
“We consider that a period of rejuvenation will begin, however this is unlikely to result in significant new office space in the short term. As it starts it will take lower grade buildings off the market and place downward pressure on the vacancy rate,” say HTW.
There also exists the possibility of buildings being converted to residential accommodation. A number of residential developments will soon be competed which will increase the number of units in the market. The depth of this unit market may be tested and likely to delay future conversion of any obsolete office buildings. 
There is however a sense that the period of high vacancy may be beginning to end, concludes HTW.
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