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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Hotel owner and operator InterContinental Hotels Group and Linzhu (Australia) Pty Ltd have signed an agreement to open a new Holiday Inn brand hotel in the Sydney CBD by 2020.
The Holiday Inn Sydney Central at the 430 Pitt Street development will comprise 305 rooms, a restaurant, terrace bar and a 120-seat meeting space, according to a media release.
The hotel will be part of a mixed-use development that will have a 17-storey tower with a sloping roof, “green waterfalls”, a 1,000 sqm private art gallery and a retail concourse.
<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/2017/03/09/Holiday%20Inn%20Sydney%20Central%203.jpg" alt="">
 
<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/2017/03/09/Holiday%20Inn%20Sydney%20Central.jpg" alt="">
“The property will be a jewel in the Sydney CBD landscape with its unique wedge-shaped design and green flowing rooftops,” said Jing Wen Lin, director at property firm Linzhu.
Karin Sheppard, chief operating officer at IHG added, “The Holiday Inn brand has been a story of success for IHG in Australia, so we are excited to be building on our portfolio that already includes six Holiday Inn hotels in Sydney.”
The first Holiday Inn globally opened its doors in 1952 and today the Holiday Inn Brand Family is the largest hotel brand in the world, with the largest development pipeline, said the media release.
The first property in Australasia was the Holiday Inn City Centre Perth, which opened on March 2, 1998.
IHG currently has 26 hotels operating under four brands in Australia: InterContinental, Crowne Plaza, Holiday Inn and Holiday Inn Express.
 
<img src="https://www.urban.com.au/images/2017/03/09/IHG%20%20Linzhu%20Signing%201.JPG" alt="">
 
<img src="https://www.urban.com.au/images/2017/03/09/IHG%20%20Linzhu%20Signing%202.JPG" alt="">
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j.ballantyne1990-6AQqhLzZaK

IHG extends its footprint in Sydney’s CBD with signing of Holiday Inn

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<img src="https://counter.theconversation.edu.au/content/73442/count.gif?distributor=republish-lightbox-advanced" alt="The Conversation" width="1" height="1">
GUEST OBSERVER
The plane crash at Essendon Airport showed the folly of allowing runways to co-exist with commercial development.
Tullamarine Airport opened in 1970 partly because of the risk to housing from aircraft at Essendon. Why, then, have authorities allowed extensive new development within Essendon Airport’s boundaries between housing and runways?
Between 1997 and 2003, the federal government provided 99-year airport leases to private consortia, raising A$8.5 billion. This process illustrates how privatisation can lead to unaccountable incremental actions and impacts that public authorities didn’t anticipate.
Since then, in effect, lessees have enjoyed the privileged position in Australian planning law of being able to decide their own futures. The exclusion of such large areas as airports from broader metropolitan planning threatens orderly planning on a grand scale.
Planning academics Robert Freestone and Douglas Baker have argued:
The prospect of market opportunities from property development and commercial initiatives was a key factor in the high prices secured for airport leases.
This process was compromised if higher prices than those justified by leases were reciprocated by commercial approvals. Any future development assessment would be predetermined towards approval. This would prevent fair consideration of objections, resulting in a lack of proper scrutiny in the public interest.
Airport business is booming
Commercial development is now integrated with traditional airport operations across Australia. But aside from possible reciprocal financial expectations, privatisation has provided extraordinary bargains to lessees through large capital and operational returns.
Linfox Group and Beck Corporation, for example, made a reported payment in 2001 of $22 million for a lease on 305 hectares of prime inner-urban land at Essendon Airport. They have turned this into a projected $1 billion enterprise over the next decade. One-quarter of the airport is leased to commercial tenants.
Business zones adjoin or wrap around runways. The plane crashed into a large retail DFO complex. An eight-storey 150-bed hotel, conference centre, a five-storey office block, private hospital, supermarket, auto centre and much else have also been built or are planned. Projected employment in the precinct is 18,000.
Air traffic has expanded significantly too. Essendon is home to executive air, charter, freight, media and regional air services, air ambulance, police and private aircraft. Essendon is Australia’s largest corporate jet base.
All this activity reinforces the public danger from the incompatibility of air and commercial land uses under privatised governance arrangements.
Operators bypass state planning rules
Under the Airports Act, Essendon Airports Pty Ltd must prepare a management plan outlining airport development for 20 years. The privatised management of airports inherited the Commonwealth’s constitutional overriding of state and territory land-use planning provisions. Master plans must only address “consistency” with state and local planning schemes.
However, airport lessees are not required to act on submissions. Essendon Airport Pty Ltd gave “due regard to all written comments”, then forwarded submissions and its master plan to the federal government. The Commonwealth approved the plan in 2014 regardless of broader urban planning considerations.
Victorian government planning policy has attempted to concentrate commercial development in mixed-use centres well served by public transport. Essendon Airport is a classic road-based, out-of-centre location. It was not identified as an activity centre in Melbourne metropolitan planning. But, for 30 years, no Victorian government has shown an appetite for curbing out-of-centre development.
The 2014 metropolitan plan, Plan Melbourne, proposed to “investigate opportunities for… increased development and employment” at Essendon. Airport management submitted a case to the revised metropolitan strategy process for recognition as an activity centre.
State and local authorities originally expressed concern at the proposal to construct the DFO at Essendon Airport. However, more recently, local and state attitudes have changed.
In 2014, the Liberal planning minister, Matthew Guy, announced a new airport employment precinct and a partnership between the developers, Metropolitan Planning Authority and state and local governments. The airport was identified as both a key transport gateway and important commercial area.
Labor Niddrie MP Ben Carroll also welcomed the expansion of commercial activities. Moonee Valley Council expressed concerns but did not oppose the major proposed land uses. Councillors expressed the view that Essendon Fields is “an important economic hub” and a “vibrant business precinct”.
The then federal infrastructure minister, Warren Truss, said in 2015 that:
Airports are now business destinations in their own right and provide a powerful economic engine for their home region and local communities.
In similar language, Essendon Airport Pty Ltd CEO Chris Cowan said that:
Essendon Airport [provides] a unique opportunity to reinforce its activity centre function by realising non-aviation development potential.
Everybody is now speaking from the same script.
State and local policy has increasingly become aligned with the Commonwealth helping to further the private interests of airport operators at increasing risk to the public.
Instead, airport governance should redefine Commonwealth responsibilities to its citizens and be integrated with broader metropolitan planning. This ultimately may mean closing down airport operations at Essendon.
Michael Buxton is professor of Environment and Planning, RMIT University and author for The Conversation. He can be contacted <a href="https://theconversation.com/profiles/michael-buxton-1381" target="_blank">here</a>.
 
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Airport privatisations have put profit before public safety and good planning: Michael Buxton

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A fully leased retail centre in Queensland’s largest inland city, Toowoomba, has sold for more than $14 million on a robust yield of 7 percent. 
Wyalla Plaza at 236A-238A Taylor Street, Newtown returns a net rental income of more than $1 million per annum and offers opportunity for further growth, according to its description. 
Tenants include Puma, Domino’s Pizza, Downs Rural Medical and Malouf Pharmacy among others. 
The property was sold through agents Stephen Kidd and Peter Marks of Ray White Commercial to a Melbourne-based investor. 
Kidd said the marketing campaign for Wyalla Plaza attracted strong local, interstate and international interest.
“Wyalla Plaza is 100 per cent leased and includes a service station, medical centre and a total of 25 tenants,” he said.
The property has a land area of 14,028 sqm and a gross floor area of 3,995 sqm. 
Marks said there is currently a strong appetite for investment in Toowoomba with the city of nearly 163,000 people enjoying a bright economic future underwritten by primary industry, natural resources, education and tourism sectors.
“Toowoomba is currently experiencing an influx of major infrastructure developments totalling more than $10 billion,” he said.
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Toowoomba shopping centre sells for more than $14 million on a strong yield

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A convenience store with an apartment in the rear in NSW’s Fitzroy Falls has just sold for an undisclosed sum.
The Fitzroy Falls General Store at <a href="https://www.realcommercial.com.au/property-retail-nsw-fitzroy+falls-501736562" target="_blank">1351 Nowra Road, Fitzroy Falls, NSW 2577</a> is currently under a three-year lease to new tenants with further option of another three years.
The two-bedroom flat at the rear of the premises is occupied by the tenants.
The store is a historic part of the local area, supplying much-needed groceries for local residents, as well as fuel, fast food and coffee for travellers. The store currently returns 6.86% + GST NETT, and the property description says it would make up an ideal part of a buyer’s Superannuation Fund.
The land area is nearly 1,700 sqm. The property was last advertised in September 2015 for a price tag of $550,000 and spend 532 days on the market, RP Data shows. 
The selling agent was Terry Murphy of Terry Murphy Property Sales &amp; Management .
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Store with apartment in NSW's Fitzroy's Falls sells

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A warehouse/office in Perth’s industrial suburb of Wangara has sold for $1,795,000.
Located at the western end of Berriman Drive in the Car Yard precinct, the property at <a href="https://www.realcommercial.com.au/property-industrial+warehouse-wa-wangara-501985438" target="_blank">9B Berriman Drive, Wangara, WA 6065</a>, has a land area of 2,100 sqm with a building area of 1,083 sqm.
The warehouse also has an additional mezzanine area and the office is on the ground floor. It has a kitchenette.
The selling agent was Chad Henville of Burgess Rawson.
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Warehouse in Perth's Wangara sold for under $2m

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The low-growth environment will likely make investors focus on placemaking and present them with the potential to invest in new sectors and locations, according to CBRE’s outlook on the trends shaping the Australian property market.
This was the over-arching theme of the commercial real estate firm’s annual Melbourne Market Outlook presentation recently, which also highlighted the strong performance of Australia’s south-east property markets – in particular, Melbourne and Sydney.
Both cities have stood out from an APAC perspective given their outlook for low office vacancy rates and office rental growth averaging 7 percent over the next three years, said CBRE’s head of Research, Australia, Stephen McNabb.
However, in an environment of relatively limited overall growth, McNabb said investors needed to seek out opportunities to optimise their portfolios, taking into account factors such as the current focus on space efficiency and workplace flexibility.
CBRE’s Asia Pacific head of Research, Dr Henry Chin, said this was driving a heightened interest in trends such as placemaking, as owners sought to unlock property value through asset repositioning.
“Landlords should be striving to create a community of tenants instead of simply providing office space,” Dr Chin said.
“You have to create communities to keep tenants in your building and that’s why we talk about placemaking.”
<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/2017/03/14/CBREinside.jpg" alt=""> 
McNabb referenced CBRE’s recent Millennials survey, which highlighted the heightened focus of millennials on areas such as greenspace and wellness in the workplace.
“Decision makers need to start looking more at employee data to drive their decisions as customer expectations are changing,” McNabb said.
The presentation also highlighted a growing trend for investors to seek out opportunities in newer sectors and markets.
“From a cyclical perspective, Australia’s south east markets are the stand out in terms of forecast income growth,” McNabb said.
“However, we expect to see more domestic investors looking offshore and at opportunities to alternative assets such as health &amp; aged care, infrastructure and even institutional investment in residential,” McNabb said.
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Low growth market making investors look for newer sectors, placemaking: CBRE

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A riverfront hotel at North Fremantle in Perth with potential for further development has been listed for sale.
Located at 7-9 John Street, North Fremantle, WA, 6159, the Pier 21 Apartment Hotel sits on 4,006 sqm of land with 87 metre frontage to Swan River.
It has exclusive water access and views of the John Street Marina. It was fully refurbished in 2012.
The owner-operator has a five-year lease back with a net rental of $1.4 million, along with 47 apartment rooms of varying sizes.
There is an opportunity to convert the property into a residential strata conversion or future residential development.
The property is a long established profitable hotel with a loyal customer base.
Expressions of interest close March 17 and the property is being offered through CBRE agents Ryan McGinnity, Ben Younger and David Kennedy.
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Riverfront hotel in Perth's North Fremantle listed for sale

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A Melbourne strip retail at Sorrento has been sold for $3.71 million at weekend auction.
Located at <a href="https://www.realcommercial.com.au/property-retail-vic-sorrento-502246230" target="_blank">157-163 Ocean Beach Road</a>, the property is at the heart of the beachside destination.
It is a Commercial Zone 1 landholding of 554 sqm on a major corner with over 200 car spaces available.
There is strong holding income from two retail buildings, Happy Days Sorrento and Patrick's, totalling $103,941 per annum with no further options after 2019.
There is potential to create a mixed-use development with views over Pioneer Memorial Gardens.
It last sold in 2004 for $1.5 million and $475,000 in 2000.
It was offered by CBRE Melbourne Strip Retail Investments in conjunction with Jellis Craig.
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Sorrento shops sell for $3.71 million

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The fourth quarter of 2016 saw investment deals in the hotel space fall 31.5 percent to US$1.79 billion from Q4/2014 (US$2.61 billion), with 51 hotels across 11 countries sold in the Asia Pacific.
However, the total value of investment sales rose by 13 percent year-on-year to US$9.87 billion in 2016 with around two-third of transaction volumes coming from three countries: Japan, Australia and China, according to the latest Savills research on the hotel sector.
Australia had the second highest transaction volumes after Japan with US$1.66 billion, 16.8 percent of the region’s total volume. However, transaction volumes decreased by 31.5 percent YoY, the briefing said.
<a href="https://www.propertyobserver.com.au/images/2017/03/10/SavillsGraph1.png" target="_blank">Click to enlarge</a>
 <img src="https://www.urban.com.au/images/2017/03/10/SavillsGraph1.png" alt="">
<a href="https://www.propertyobserver.com.au/images/2017/03/10/SavillsGraph2.png" target="_blank">Click to enlarge</a>
 <img src="https://www.urban.com.au/images/2017/03/10/SavillsGraph2.png" alt="">
The year gone by, 2016, was a slow year for major transactions in Australia, with hotel transactions in excess of $2.23 billion (US$1.66 billion) and 62 hotel assets changing hands, a decrease of 31.5 percent when compared to 2015, says Savills. 
The average deal size this year was $35.9 million, compared to last year’s $48.3 million. Only eight transactions were recorded in Sydney and Melbourne.
The large majority of the transactions was in the second and third-tier cities such as Surfers Paradise or Cairns. 
“Due to tight cap rates in core Tokyo, Hong Kong, Singapore, Sydney and Melbourne transactions, we began to see increases in market share for traditionally non-core assets as investors searched for yield farther afield,” said the Savills briefing Hotel Sales &amp; Investment. 
Foreign investor buying remained active, with two major transactions in the last quarter of 2016. The first was the sale of the Travelodge Docklands Melbourne for $107 million (US$81.9 million). The sale price reflected an initial yield of sub-6.0% and was acquired by Singapore’s Sing Holdings. 
Another major transaction was an Ibis portfolio, consisting of 15 hotels (1,595 rooms), for a total value of approximately $200 million (US$148.5 million), which was bought by Accor Hotels from the Abu Dhabi Investment Authority. 
The portfolio includes the 250-room Ibis Melbourne and the 200-room Ibis Sydney Airport, as well as five Ibis Budget hotels in Sydney, two in Melbourne, and one each in Newcastle, Dubbo, Coffs Harbour, Canberra and Brisbane Airport. 
<a href="https://www.propertyobserver.com.au/images/2017/03/10/SavillsGraph4.png" target="_blank">Click to enlarge</a>
<img src="https://www.urban.com.au/images/2017/03/10/SavillsGraph4.png" alt=""> 
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Australia in second spot for hotel deals in Q4 2016: Savills

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Following Labor’s thumping win in Western Australia, the new government could introduce a four percent surcharge for foreigners buying residential property in the state, a move which has met with criticism from a leading industry body which says it could hurt the market’s hopes of a recovery. 
Others are more optimistic, saying a clear election win would stimulate the property market as buyers usually hold off major financial decisions till the election outcome.
Other moves by the Mark McGowan government could be changes to stamp duty and formation of an independent infrastructure body, according to an article in the Australian Financial Review.
The previous Liberal government had promised to shave up to $15,000 from the stamp duty for seniors downsizing into a property valued up to $750,000. What Labor does now, the industry will just have to wait and see.
It it introduces the surcharge for foreign buyers of residential property, similar to Victoria, NSW and Queensland, it would do more harm than good, says the Property Council of Australia because of the low foreign investment in the state compared with other states.
"We have the lowest level of foreign investment in property in Australia and putting an extra tax on foreign buyers will make it much harder to get the investment we need to grow the state," the council's WA executive director, Lino Iacomella, was cited as saying by the AFR.
Labor says it will use the funds to put a freeze TAFE fees for the first four years of a McGowan Government.
Among the popular moves, however, Labor has said it will create Infrastructure WA, an independent body long called for by the property industry, to assess and prioritise infrastructure projects.
Before the election, on the common agenda for both Liberal and Labor was strata title reform, such as the creation of community title, which would allow more flexible mixed-use structures with strata properties under different management.
It would also mean owners with plots as small as 1000 square metres, would have flexibility to develop their site in stages, rather than all in one go as happens under current practice, and potentially get better outcomes, said sustainable housing developer Eugenie Stockmann.
Real estate firm Acton chief executive Travis Coleman was cited by www.domain.com.au as saying that there were signs the WA economy was recovering, with the latest economic growth figures for the December 2016 quarter showing positive economic growth for the first time since mid-2015.
“If we have a clear result on Saturday (for whichever major political party), this will give people confidence of a clear political direction for the State over the next four years,” he said.
“So this state election could be the last obstacle towards a noticeable recovery in the Western Australian property market.” 
Be that as it may, the property market is still struggling from the end of the mining boom. House prices in Perth fell 2.4 per cent in February to a median $500,000, while apartments are down 2.8 per cent to a median $400,000, according to CoreLogic data.
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