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

Joel Robinson

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

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

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

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

Owners move in as Esprit completes at Rainbow Bay

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

Mosaic's Midas Touch

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

Groundbreaking marks start of construction at Keira Place in Wollongong CBD

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

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

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A long-standing motel in Brisbane’s inner suburb of Hamilton has been sold through Savills for an undisclosed sum, although the transaction is believed to be around $2.5 million.
The Kingsford Riverside Inn at 114 Kingsford Smith Drive comprises 25 rooms, a manager’s residence, reception area and other utilities. The 3 Star rated motel is also conveniently located opposite a 24 hour service station.
The four-storey motel was built in 1957 and has been owned and operated for the past 17 years by a local Brisbane couple who are now heading for retirement. It was bought for $450,000 by Daniel and Jane Doyle, according to CoreLogic RP Data.
The freehold motel property is set on an area of 663 sqm. 
The sale to private Sydney-based buyer was brokered by Nic Simarro and Tim Packman of Savills. 
The new owners have promised an extensive refurbishment, according to The Courier Mail.
Simarro said the property attracted much buyer interest due to its prominent high-exposure location on Kingsford Smith Drive. It is close to the airport and Brisbane CBD.
“Given the location, substantial landholding and favourable zoning, the property provides excellent medium-term redevelopment potential,” Simarro said.
Packman said the riverside setting provides panoramic views of the Brisbane River.
He said the site is prime for repositioning as it is zoned ‘High Density Residential (Up to 8 Storeys)’ and provides an opportunity for future redevelopment, subject to Council approval. 
“The underlying land rich nature of the site presents great flexibility in future uses to capitalise on the high level of infrastructure and development activity in the surrounding area,” Packman said.
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prateek24-ezbwHMbNAk

Landmark riverside motel in Brisbane’s Hamilton sold through Savills 

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A semi-built development site in Katoomba is for sale for the third time in four years.
It has remained <a href="https://www.realestate.com.au/property-house-nsw-katoomba-125214902" target="_blank">half built since at least 2012</a>, according to its prior marketing.
The property on just over one hectare was bought by Zetland based BM Unit Developments, who paid $1.8 million in 2014.
It's been heavily traded among development groups, selling for $1.45 million in 2008 and $1.5 million in 2013 prior to the 2014 sale.
The sale through Matthew Gale and Colleen Stockley at McGrath Wentworth Falls/Leura comes with council approval for 21 self care retirement villas.
They have a $2 million to $2.2 million price guide for its May 20 auction.
Numerous dwellings are at various stages of construction, some only at the foundations stage.
The derelict Gracehill Lodge sits on the parcel.
Sandstone gate piers lie at the entrance and timber rails frame the property that overlooks Jamison Valley.
It's a gabled single-storey four bedroom home that sits at the end of a tree lined, stone edged driveway.
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jrobinson-rf4aSBido9

Semi-built development site in Katoomba listed

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Melbourne developer Summers Industries has put several office warehouses on the leasing market following the sale of 26 out of 27 speculatively built industrial units at its circa $12 million Braeside business park.
The units were all sold before completion, reflecting the strength in the south-east industrial market mainly due to Victoria’s strong population growth and a renewed trend of owner-occupier sales. 
Savills’ Gareth Jackson, who marketed the campaign, said nearly 80 percent of the available units sold to owner occupiers.
He said while leasing across the south-east had been remarkably resilient, the voracious owner-occupier appetite for new and existing stock, was unequivocally driving the Braeside market.
“Owner-occupier sales have been picking up over the last couple of years, with the obvious driver low interest rates and more recently Victoria’s strong population growth, but what we are seeing now is, in part, a sense of urgency to buy ahead of what some regard as an inevitable rise in interest rates, and an increasing trend to SMSF investment,” he said.
“US rates continue to rise and with housing affordability such an issue the RBA has no appetite for further cuts, the only way is up, indeed some banks are already leading the way. Having said that we are not likely to see a massive hike anytime soon and so there remains that window of opportunity, if you like, and savvy businesses are clearly taking advantage.’’      
The south-east market is enjoying a purple patch of sorts, accounting for more than 50 percent of total industrial take-up (456,920 sqm) across Melbourne, in the 12 months to March, added Savills head of Research in Victoria, Monica Mondkar. 
It is leading all precincts for the first time since December 2010, along with 31 percent ($657 million) of the total industrial sales by value.
The opening of the Dingley Bypass last March had also been an important driver in the success of the sales and leasing of development projects in the Bayside market, Jackson said.
The 6.4 kilometre, six-lane road linking Warrigal Road at Moorabbin and Westall Road at Dingley Village was built with the promise of reduced traffic delays and congestion.
He said purchasers had also been drawn to the depreciation benefits and stamp duty savings, on-title car parking, container access and NBN connectivity.
Savills marketed the properties along with Nixon Real Estate. 
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jonathanchancellor-7SQnKwU6yx

Melbourne business park nearly sells out before completion: Savills

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An office suite in Sydney with Harbourside views is going up for auction on May 23 with price expectations of $4,000,000.
The property at <a href="https://www.realcommercial.com.au/property-offices-nsw-sydney-502363286" target="_blank">Suite 12, Level 3 at Walsh Bay, 13 Hickson Road</a>, is securely leased to a government-owned business and ideal as an investment property, according to its description. 
Sitting in the iconic Walsh Bay Piers precinct, the property has classic warehouse features with urban chic appeal. It has a split level configuration with interconnecting stairs.
The total area is about 375 sqm.
The current tenancy expires in November 2019 and comes with fixed 3% annual rental increases. No vacancy for 6.5 consecutive years.
Overlooking the proposed $150 million Arts precinct, the property is surrounded by popular restaurants and bars and is walking distance to Barangaroo and Circular Quay.
The property earns a net rental income of $257,699 per annum with outgoings at $62,108 per annum approx, translating to a net income of $195,591 per annum.
The listing agents are Tim Noonan and Ross Ladd of Noonan Property.
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Office suite with Harbourside views up for auction with $4 million expectations  

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Mair Property Funds (MPF) has secured a modern medical centre in Perth’s north east for $8.1 million.
MPF purchased the Broadway Medical centre at 150 Coolamon Boulevard in Ellenbrook, 20 kilometres north east of Perth, which will be included in its Diversified Property Trust.
The premise was built in 2014 and is fully leased with 8 tenants across a range of medical disciplines including physiotherapy, dentistry, pathology, radiology, podiatry and pharmacy, among others.
Peter Melling, MPF acquisitions manager, said the company identified the premise as an attractive investment because of its strong tenant mix and prominent location.
“The bulk-billing centre is open 7 days a week, and is one of just five medical practices within Ellenbook to cover 43,000 residents, with restrictions on the number of centres allowed within the area,” he said.
“The suburb is expected to grow further with enhanced public transport links, including the Ellenbrook rapid bus system and the Ellenbrook rail line, which forms part of the state government’s Metronet initiative.
“Our research and market analysis has also highlighted the medical sector as a solid investment because of its greater economic resilience and strong growth outlook amid an aging population.
The Broadway Medical centre has a land area of 5,076 square metres and building area of 1,586sqm.
The purchase of Broadway Medical takes the value of properties under management by MPF to $188 million.
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j.ballantyne1990-6AQqhLzZaK

MPF acquires Ellenbrook medical centre

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A tenanted commercial building in Melbourne’s iconic retail strip Chapel Street is set to go under the hammer on May 18.
Located at <a href="https://www.realcommercial.com.au/property-offices-vic-prahran-502364494" target="_blank">228-230 Chapel Street, Prahran</a>, the building consists of two shops and a first floor office with mezzanine apartment.
The combined rent from the property is $250,756.36 plus GST with upside potential.
The land area is  277 sqm while the floor area is 569 sqm.
The building has been fully refurbished and the three titles are being offered as a whole.
Its zoning is Commercial 1. The listing agents are Joseph Walton, James Gregson and Michael Ryan of Allard Shelton.
It last sold in 2006 at $2.89 million.
 
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Tenanted building in Melbourne's Chapel Street set for auction 

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Price growth in Darwin's detached housing market is expected to fall 1.3 percent this year, with apartment values to increase by 1 percent, according to the CoreLogic-Moody’s Analytics Australian Home Value Index Forecast, 2017Q1.
The report said the downturn of the mining industry has pushed values down 11 percent from their peak in 2014. 
<a href="https://www.propertyobserver.com.au/images/2017/04/18/Screen%20Shot%202017-04-18%20at%209.31.36%20AM.png" target="_blank">Click to enlarge</a>
<img src="https://www.urban.com.au/images/2017/04/18/Screen%20Shot%202017-04-18%20at%209.31.36%20AM.png" alt="">
"The recent rebound in commodity prices will support incomes over the short term," it said.
"Apartment values rose in the four consecutive months to January, with growth over the previous year averaging around 8.2 percent.
"Meanwhile, detached-home values fell for 23 consecutive months.
"The trough for home values will likely be reached at the end of this year, but overall mining investment will remain sluggish, so Darwin’s property market—both apartments and detached houses—is unlikely to rise sharply over the coming years. 
"Adding to the state’s difficulties is a rapidly ageing population which reduces the working-age population, meaning the average unemployment rate of 3.8 percent in 2016 obscures issues in the labour market.
"The outlook remains downbeat, as the rise in commodity prices is unlikely to boost investment activity."
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Darwin apartment values to increase 1.3 percent in 2017

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Traralgon is the cheapest locality in Victoria for purchasing units, according to Investar’s latest report.
The property investment firm says that units in Traralgon can be purchased at around a $111,500 median.
This is followed by Moe with $148,500 and Numurkah with $149,000.
<table border="1" cellspacing="0" cellpadding="0"><tbody>
<tr>
<td valign="top" width="72">
Suburb
</td>
<td valign="top" width="64">
Postcode
</td>
<td valign="top" width="81">
Bedrooms
</td>
<td valign="top" width="122">
Current median price
</td>
</tr>
<tr>
<td valign="top" width="72">
Traralgon
</td>
<td valign="top" width="64">
3844
</td>
<td valign="top" width="81">
Studio and 1
</td>
<td valign="top" width="122">
$111,500
</td>
</tr>
<tr>
<td valign="top" width="72">
Moe
</td>
<td valign="top" width="64">
3825
</td>
<td valign="top" width="81">
2
</td>
<td valign="top" width="122">
$148,500
</td>
</tr>
<tr>
<td valign="top" width="72">
Numurkah
</td>
<td valign="top" width="64">
3636
</td>
<td valign="top" width="81">
2
</td>
<td valign="top" width="122">
$149,000
</td>
</tr>
<tr>
<td valign="top" width="72">
Mildura
</td>
<td valign="top" width="64">
3500
</td>
<td valign="top" width="81">
2
</td>
<td valign="top" width="122">
$155,000
</td>
</tr>
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Burwood
</td>
<td valign="top" width="64">
3125
</td>
<td valign="top" width="81">
Studio and 1
</td>
<td valign="top" width="122">
$155,000
</td>
</tr>
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A one bedroom unit at <a href="https://www.realestate.com.au/property-unit-vic-traralgon-124532498" target="_blank">22/18 Gwalia Street</a>, Traralgon (above) has been listed for $108,000.
Similarly a one bedroom unit at <a href="https://www.realestate.com.au/property-unit-vic-traralgon-124117462" target="_blank">2/4 Murphy Crescent</a>, Traralgon (below) has been listed for $105,000.
<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/2017/04/12/2_4%20Murphy%20Crescent.jpg" alt="">
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Units in Traralgon's $111,500 median: Investar

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Property investors tend to be drawn to boom markets, seeking rapid growth.
It’s understandable, but not always smart. Sometimes the outcomes are not what buyers expect.
Sometimes, also, buyers are not suited to the kinds of markets that attract them. Those with risk profiles that lean towards steadiness and safety should not be in resources-related regional centres or glamour high-rise markets like Surfers Paradise.
They should be in markets likely to deliver solidity – the consistency markets.
The best analogy I can provide is this, taken from one of my reports for investors:
The most-watched athletics events at any Olympics are the sprints. They’re excitement-plus, particularly when they feature athletes with star quality like “world’s fastest man” Usain Bolt.
The long-distance contests have their followers but are boring by comparison. Only diehard watchers sit through the two hours-plus of the marathon – people who admire grit and stamina more than flashy skills. You should have a similar attitude to real estate.
Many investors and developers go for the sprinters of real estate. The mining towns and the places with star quality like the Gold Coast attract many of property’s spectators and speculators.
But, in real estate, there’s a lot to be said for being boring. Many of the best performers are the unglamorous contestants. While the sprinters of real estate pull up lame or go down with cramp, the long-distance runners just keep on chugging along.
This speaks to the importance of seeking locations that offer consistency.
Of the various periodic reports I work on, my favourite is the Price Predictor Index which looks for patterns in markets to provide about the likely future movement in prices. We highlight the growth markets and also the ones we classify as danger markets, the ones where prices are likely to fall. 
But equally important are the consistency markets. These are the suburbs and towns that deliver consistent sales levels, quarter after quarter, year after year. They’re solid markets which represent safety for property consumers. They’re unlikely to deliver boom-bust scenarios.
Consistency markets also tend to have good price growth. The Autumn edition of The Price Predictor Index gave the award for the nation’s most consistent market to the suburb of Charlestown in the Lake Macquarie LGA which sits beside Newcastle. It has sold between 73 and 88 homes per quarter over the past three years. The median house price rose 10.4 percent in the past 12 months to $530,000.
Which brings me to one of the unsung markets of capital city Australia, Adelaide. One the hallmarks of the Adelaide residential market is consistency.
While the generalised price growth numbers have been fairly moderate, Adelaide markets have had busy sales activity in recent years - and a standout feature is the number of locations with consistent sales activity.
The Tea Tree Gully LGA continues to stand out as precinct with lots of suburbs marked by consistent sales performance.
They include Greenwith (median price $440,000), which won our vote as the nation’s most consistent suburban market in a previous edition of The Price Predictor Index. Quarterly sales in Greenwith over the past four years have been 51, 58, 56, 42, 53, 45, 43, 43, 44, 45, 49, 46, 51, 47 and 41.
And, as another indicator that this kind of consistency produces solid price growth, the median price for Greenwith has increased 8 percent in the past 12 months and 16 percent in the past three years.
The Onkaparinga LGA in the far south of the Adelaide metropolitan area is a frequent entry in our Hotspots reports, with its mix of coastal suburbs, new growth areas and wine country, boosted by improved road and rail links to central Adelaide.
Onkaparinga has many consistent performers, including Happy Valley and Morphett Vale (where quarterly sales have been 140, 142, 140, 124, 142, 137 and 135 over the past two years). Happy Valley’s median price has risen 6 percent to $380,000 in the past 12 months.
In the downmarket northern suburbs of Adelaide, both Salisbury and Salisbury North are very consistent markets. Salisbury (median house price $285,000) has recorded quarterly sales of 47, 49, 44, 54, 40, 42, 43, 43, 38 and 45 over the past 2-3 years. 
And at the more prestige end of the market, North Adelaide (median house price $1.04 million) had delivered sales of 58, 56, 56, 55, 64, 59, 57, 48 and 56 in the past couple of years. 
Australia abounds with markets like these, suburbs and towns that show great consistency in their level of sales. For investors who have patience and value steadiness, they’re good places to park your money.
Terry Ryder is the founder of <a href="https://www.hotspotting.com.au/">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'%3E%20%3C!--%20document.write('%3Cspan%20style=/'display:%20none;/'%3E');%20//--%3E%20%3C/script%3EThis%20email%20address%20is%20being%20protected%20from%20spambots.%20You%20need%20JavaScript%20enabled%20to%20view%20it.%20%3Cscript%20type='text/javascript'%3E%20%3C!--%20document.write('%3C/');%20document.write('span%3E');%20//--%3E%20%3C/script%3E">email him</a> or follow him on <a href="https://twitter.com/hotspotting">Twitter.</a>
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terryryder-YECXbqmri2

Nation’s most consistent market is Charlestown, New South Wales

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<div>Building activity is one of the more complicated data series released by the ABS, so I'll just post the headline figures here. </div>
<div> </div>
<div>Overall the level of residential building activity remained high, increasing quite strongly in 2016 in fact, but nationally it looks as though the peak is now more or less in. </div>
<div> </div>
<div>At the end of the year there was still a historically high number of dwelling units approved and not commenced, but Sydney was beginning to chew its way through the backlog. </div>
<a href="https://www.propertyobserver.com.au/images/2017/04/13/A3.jpg" target="_blank">Click to enlarge</a>
<div class="separator"><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/2017/04/13/A3.jpg" alt=""></div>
<div> </div>
<div>Nationally dwelling commencements remained strong in the fourth quarter of 2016 at more than 57,000 in seasonally adjusted terms.</div>
<div> </div>
<div>But in reality the red hot run is now only being held aloft by Sydney, with commencements declining in Melbourne, Brisbane, and Perth. </div>
<div> </div>
<div>New South Wales saw a total of 19,950 dwellings commenced in the fourth quarter, with Victoria sliding to 16,460, and Queensland dropping sharply to 10,150.</div>
<div> </div>
<div>Commencements have been falling in Western Australia for nine consecutive quarters.</div>
<div> </div>
<div>Plotting the figures in trend terms shows how the residential boom is really just a Sydney story now. </div>
<div class="separator"> </div>
<div class="separator"><a href="https://www.propertyobserver.com.au/images/2017/04/13/A4.jpg" target="_blank">Click to enlarge</a></div>
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 Supply coming online
<div>At the end of 2016 there were still some 219,384 dwellings under construction, including 152,635 attached dwellings.</div>
<div> </div>
<div>The total is slightly lower than the record peak seen in September 2016, indicating that new apartments were already starting to hit the eastern capital city markets towards the end of last year. </div>
<a href="https://www.propertyobserver.com.au/images/2017/04/13/A1.jpg" target="_blank">Click to enlarge</a>
<div class="separator"><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/2017/04/13/A1.jpg" alt=""></div>
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<div>There were a record 82,857 dwellings under construction in NSW at the end of the year, some 62,040 of them being attached dwellings, and so many of them of the 'egg box' variety.</div>
<div> </div>
<div><a href="https://www.propertyobserver.com.au/images/2017/04/13/A2.jpg" target="_blank">Click to enlarge</a></div>
<div> </div>
<div class="separator"><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/2017/04/13/A2.jpg" alt=""></div>
<div class="separator"> </div>
<div>The actual number of dwellings actually completed in 2016 were high, but themselves hardly alarming, including in NSW (58,730), Victoria (59,977), and Queensland (44,983). </div>
<div> </div>
<div>The wrap</div>
<div> </div>
<div>While these are big numbers in historical terms, today's largely unnoticed arrivals and departures figures presented some food for thought, with permanent and long term arrivals exploding to 103,570 in February, by some margin the biggest single month on record.</div>
<div> </div>
<div>There was also an unprecedented number of education arrivals in 2016, which may be a coincidence or driven by the lower dollar. </div>
<div> </div>
<div>On the other hand, maybe the government has quietly turned on the immigration taps.</div>
<div> </div>
<div>Remember that most immigrants to Australia head to the two most populous states, which are also home to the two best performing economies and the highest number of job vacancies.   </div>
<div> </div>
<div>Let's hope the new arrivals like egg boxes. </div>
<div> </div>
<div>
PETE WARGENT is the co-founder of <a href="https://allenwargent.com/" target="_blank">AllenWargent</a> property buyers (London, Sydney) and a best-selling author and <a href="https://petewargent.blogspot.com/" target="_blank">blogger</a>.
His latest book is <a href="https://www.bigskypublishing.com.au/Books/General-Interest/Four-Green-Houses--and-a-Red-Hotel/1015/productview.aspx" target="_blank">Four Green Houses and a Red Hotel</a>.
</div>
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