<a href="https://www.apartments.com.au/developers/far-east-consortium">Far East Consortium</a> is preparing to commence construction on <a href="https://www.apartments.com.au/new-apartments/640-bourke-street-melbourne-640-bourke-street-melbourne-vic-3000">640 Bourke Street</a> this October, marking the next milestone for the Melbourne CBD development and its higher-end Eliza Collection.

Spanning levels 44 to 68 of the 68-storey <a href="https://www.apartments.com.au/architects/rothelowman">Rothelowman</a>-designed tower, the Eliza Collection has been conceived as a lower-density offering within the broader development, with only five apartments on each floor, dedicated lift access and a collection of resident spaces reserved exclusively for Eliza Collection residents.

The Eliza Collection forms part of Far East Consortium's broader move toward larger-format residences at 640 Bourke Street, where the number of apartments was reduced from earlier plans as apartment sizes increased.

[smartcode_project:default project_id=509 project_image_fid=365685]

"What it's meant for 640 Bourke is we've actually reduced the number of apartments. We've increased the overall size of the apartments. We don't have any studios in here, and what that does for a project is it elevates it," Far East Consortium Director of Sales and Marketing Lauren Sheldon said.

Rothelowman Associate Jun Chang said the design process provided an opportunity to create more generous floorplans.

"We were given the opportunity to be more generous. The apartments became bigger and squarer than any other apartments which had been designed in the CBD before that."

[smartcode_project:default project_id=509 project_image_fid=368869]

That thinking carries through to the Eliza Collection, where the residences have been designed around the space and functionality associated with a larger home, but positioned high above the centre of Melbourne.

Kitchens are equipped with Gaggenau appliances, a butler's pantry, temperature-controlled wine cabinet and sculptural pendant lighting, while engineered timber flooring, stone and porcelain finishes and custom cabinetry feature throughout the broader interiors.

Privacy and security are another point of distinction. Eliza Collection residents have dedicated lift access, while 640 Bourke Street will provide concierge services and secure resident parking. Short-stay accommodation, including Airbnb, will not be permitted within the development.

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Eliza Collection residents will also have exclusive access to selected amenity spaces across levels one and three of the restored Eliza Tinsley building. These include the Salon with grand piano, an art therapy room, private dining rooms and treatment rooms.

They sit within more than 3,000 sqm of amenity planned across 640 Bourke Street, alongside facilities including a pool, gym, whisky lounge and further social and wellness spaces.

The Eliza Tinsley building itself is central to the wider project's identity. Rather than treating the existing Eliza Tinsley façade as a separate element, Rothelowman used it as a starting point for the architecture of the new tower, with the historic building to accommodate the project's gallery and lobby.

"It's a significant asset and wants to be celebrated and experienced by all residents every single time they go in and out of the building," Rothelowman Principal Stuart Marsland said.

[smartcode_project:default project_id=509 project_image_fid=368872]

The tower will rise behind the retained heritage building at 640 Bourke Street, placing residents within walking distance of Southern Cross Station, Flagstaff Gardens, Queen Victoria Market and the Docklands waterfront.

With construction scheduled to begin in October, Far East Consortium has established an onsite display gallery at 640 Bourke Street, including fully built apartments that allow the project's layouts, materials and finishes to be inspected at full scale.

A fully built Eliza Collection apartment is also available to view at the display suite by appointment ahead of the planned October construction commencement.

Eligible purchasers who buy before construction commences can secure the full available off-the-plan stamp duty savings, subject to eligibility and applicable conditions.

[smartcode_project_cta:default project_id=509]

Joel Robinson

Far East Consortium brings Eliza Collection to 640 Bourke Street ahead of October construction start

By the time S&amp;S Projects began planning <a href="https://www.apartments.com.au/new-apartments/radia-rainbow-bay-271-boundary-street-coolangatta-qld-4225">Radia</a>, the developer already had three Rainbow Bay projects from which to draw.

Flow, Awaken and Esprit had given <a href="https://www.apartments.com.au/developers/ss-projects">S&amp;S Projects</a> experience developing in the southern Gold Coast enclave, as well as buyer feedback that could be carried into its fourth project, a boutique collection of 38 residences at 271 Boundary Street.

“We have experienced a lot of success in this location and as this was our fourth building we had taken all of the learnings and buyer feedback from previous projects to arrive at a design and apartment mix that we believe had captured all of that experience and remained a true S&amp;S Project in its design and amenity,” the developer said.

That experience has translated into a collection of two, three, four and five-bedroom residences including two penthouses positioned on an elevated corner in Rainbow Bay, where the site opens to multiple coastal view corridors and the area's distinctive north-facing bay.

[smartcode_project:default project_id=140491 project_image_fid=284542]

S&amp;S Projects says the Boundary Street site took years to assemble, having previously comprised six units, a house and a duplex. The developer worked individually with the existing owners to bring the properties together after an earlier attempt to sell the site had been complicated by the number of parties involved.

“We are constantly looking for properties that meet our brand standards of location, views, and sites that are rare with unique aspects that we can develop to maximise the lifestyle of residents who live in our buildings,” S&amp;S Projects said.

The Boundary Street site gave <a href="https://www.apartments.com.au/architects/cottee-parker-architects">Cottee Parker</a> a different set of conditions to work with.&nbsp;

“Our design brief was to design a building that took advantage of its unique elevated corner siting offering a range of spectacular view corridor opportunities,” Cottee Parker said.

“The design had to reinforce the strong brand pillars of S&amp;S which are quality, luxury and superior resident amenity.”

[smartcode_project:default project_id=140491 project_image_fid=284543]

Cottee Parker responded with a sculptural floorplate and strong horizontal banding, with continuous balconies and landscaped planters wrapping the building. Operable screens along the balcony edges allow residents to manage light and shade while creating an additional layer of pattern across the facade.

The tower rises above a heavily landscaped podium incorporating the entry lobby and recreational level, while the broader architectural expression takes cues from Rainbow Bay's coastal environment through its organic forms and light material palette.

Cottee Parker says the design has also been developed to complement S&amp;S Projects’ three previous Rainbow Bay developments while retaining its own architectural identity.

Inside, the residences continue that coastal response through two interior schemes centred on warm timbers and neutral tones, alongside patterned natural stone and fluted detailing.

Floor-to-ceiling sliding glass doors connect open-plan living areas to wraparound balconies, while natural stone is used across benchtops, splashbacks and bathroom walls. Specifications also include light-washed timber flooring, gas fireplaces, integrated bar and wine fridges, freestanding stone baths and 100 per cent wool carpet.

[smartcode_project:default project_id=140491 project_image_fid=284559]

Cottee Parker Director Sandra Brown said the intention was to create an architectural response closely connected to its surroundings.

“Imagine architecture that breathes with the rhythm of nature, where every curve and line flows seamlessly – creating spaces that dance with the elements, where sunlight kisses every surface and the gentle sea breeze fills every space,” Brown said.

The lessons S&amp;S Projects carried into Radia also extend to its resident amenity, with a substantial collection of shared facilities planned for just 38 residences.

A dedicated Residents Club will include a lap pool and spa, gymnasium, ice bath, sauna, steam room and hot rocks sauna. A residents' lounge, private dining room, outdoor dining and barbecue area and business centre are also planned, along with storage and dedicated surfboard and beach lockers.

S&amp;S Projects Founding Director Paul Gedoun said the facilities were also designed around the project's Rainbow Bay setting.

“Each amenity is designed to capitalise on the lifestyle of Rainbow Bay, ensuring residents can enjoy the relaxed coastal experience the enclave is famous for,” Gedoun said.

[smartcode_project:default project_id=140491 project_image_fid=284555]

<a href="https://www.apartments.com.au/project-marketer/pezet-matheson">Pezet Matheson</a> says purchasers to date have predominantly included local downsizers, interstate lifestyle investors and families, alongside a strong contingent of repeat S&amp;S purchasers.&nbsp;

According to the project sales team, feedback has centred on the natural stone and joinery, generous floorplans, natural light and the ability for residences to capture views in multiple directions. The completed Flow, Awaken and Esprit developments have also provided prospective purchasers with an existing reference point for S&amp;S Projects' delivery in Rainbow Bay.

There has also been interest from high-profile surfers and people connected to the surf community, with the elevated building providing outlooks towards several of the area's recognised surf breaks.

Radia continues S&amp;S Projects' concentration of development in a tightly held part of the southern Gold Coast, close to Rainbow Bay Beach, Snapper Rocks, Duranbah Beach, Greenmount Beach and the Tweed River. The neighbourhood also includes a growing collection of hospitality venues, while Coolangatta Airport provides connections beyond the southern Gold Coast.

Hutchinson Builders is now delivering Radia, continuing the project from early works privately funded by S&amp;S Projects. The $250 million development is expected to reach completion in the third quarter of 2027.

“With our history in Rainbow Bay, we have been fortunate to be heavily involved in how the development landscape has unfolded and this project slides into the property landscape comfortably and will feel like it was always there,” the developer said.

[smartcode_project_cta:default project_id=140491]

How three Rainbow Bay projects shaped S&S Projects' fourth, Radia

Nearly 40 years after <a href="https://www.apartments.com.au/developers/sheida-group">The Sheida Group</a> began working on the northern Gold Coast, the family-owned developer is continuing its involvement in Hope Island with Marina Point Apartments, where apartment scale has been a central part of the development.

Across the 235-apartment waterfront community, the developer has prioritised larger floorplans, substantial open space and marina access, responding to a purchaser base that has predominantly comprised local owner-occupiers and downsizers moving from larger homes.

"Having already delivered Anchorage nearby, we also understood this particular market and how people live here," developer Rick Sheida said.

"<a href="https://www.apartments.com.au/new-apartments/marina-point-apartments-hope-island-66-view-line-terrace-hope-island-qld-4212">Marina Point&nbsp;Apartments</a> gave us the opportunity to build on those lessons and create the next evolution of our work in Hope Island."

[smartcode_project:default project_id=136992 project_image_fid=293151]

The Sheida Group acquired the Marina Point land around 2018. Its appeal, Sheida says, went beyond having a waterfront address.

"What attracted us was not simply that the site was waterfront, but the way it meets the water," he said.

"It sits at the junction of broad waterways, creating long sightlines, changing views and a sense of movement throughout the day. Its shape also allowed us to orient the buildings outward, improve privacy between residences and make better use of natural light and breezes."

The buildings have subsequently been positioned around the perimeter of the site, allowing most apartments to take in water views while others look across the resort amenity or hinterland. Once all four buildings are complete, approximately one hectare of the site is expected to remain as open space.

The waterfront also provides the potential for up to 50 marina berths, with berths ranging from 15 to 24 metres and options designed to accommodate wider vessels including catamarans. Access from the marina to the Gold Coast Seaway is bridge-free.

[smartcode_project:default project_id=136992 project_image_fid=293149]

The developer says purchasers to date have predominantly been owner-occupiers and downsizers from <a href="https://www.apartments.com.au/new-apartments/marina-point-apartments-hope-island-66-view-line-terrace-hope-island-qld-4212">Hope Island</a> and elsewhere on the Gold Coast, generally aged between 45 and 70. Many have sold larger family homes or properties requiring significant upkeep.

That purchaser profile informed a design brief centred on retaining the space and functionality of a larger home within an apartment format.

"Many of our buyers are coming from large, well-appointed homes in Sanctuary Cove and the surrounding area," the project team said.

"They are accustomed to generous spaces and thoughtful design, so it was important that the apartments delivered the same sense of comfort and functionality.

"Every room needed to feel well proportioned, every space needed a clear purpose and nothing could feel compromised."

Residences range from 139 sqm through to 319 sqm penthouses, with two car spaces provided to apartments and three to penthouses. Minimum 2.7-metre ceilings, floor-to-ceiling glazing, entertainer's kitchens with butler's pantries, substantial storage and balconies ranging from 18 sqm to 37 sqm further reflect the emphasis on space.

One purchaser from Sanctuary Cove has taken the concept further, combining two of Marina Point's largest apartments to create a 552 sqm residence with raked ceilings reaching up to 4.5 metres.

[smartcode_project:default project_id=136992 project_image_fid=293155]

With Building 1 now complete, the developer is also seeing its original design assumptions tested against purchaser feedback.

Three completed display residences allow prospective purchasers to compare apartment sizes, layouts, finishes and outlooks in person. The sales team says one of the most consistent responses has been to the scale of the apartments, with visitors describing them as feeling more like homes than conventional apartments.

The first stage of resident amenity is also operational, including a 25-metre heated lap pool, Technogym-equipped gym, infrared sauna, golf simulator and yoga room. Future facilities are set to include a resort-style pool and spa, waterfront barbecue area and a residents' lounge with a library, fireplace, pool table, kitchen and bar.

Rather than treating the four buildings independently, the design brief called for a complete waterfront neighbourhood, balancing private residences with landscaping, open space, marina access and shared amenity.

[smartcode_project:default project_id=136992 project_image_fid=293152]

For Sheida, Marina Point Apartments is ultimately an extension of the developer's longer-term involvement in Hope Island and its view of how the suburb is evolving.

"We were equally interested in the long-term future of Hope Island," he said.

"Its position between Brisbane and the central Gold Coast gives residents access to both, while improving transport connections are making the northern Gold Coast increasingly attractive as a permanent place to live."

Hope Island Marketplace is 1.3 kilometres from Marina Point, while Sanctuary Cove and Paradise Point are within six kilometres. Links Hope Island, The Pines and The Palms golf courses are also nearby, and the new Hope Island train station is under construction around five kilometres from the development.

Building 2 is under construction, with completion scheduled for 2027.

[smartcode_project_cta:default project_id=136992]

Marina Point Apartments continues The Sheida Group's 40-year Hope Island story

Sydney-based fund manager and developer EG is seeking to turn part of the former Roche pharmaceutical campus in Cromer into a 130-home residential community, introducing a mix of low-rise apartments, townhouses and duplexes to the tightly held Northern Beaches market.

The SJB-designed masterplan has been prepared for the 3.2-hectare site at <a href="https://www.apartments.com.au/new-apartments/100-south-creek-road-cromer-nsw-2099">100 South Creek Road</a>, part of the former Roche landholding that EG acquired for $55 million in 2017 through its Yield Plus Infrastructure Fund No. 2.

EG is proposing what SJB describes as a new "urban village" set within the site's significant existing tree canopy.

<img alt="Cromer" data-entity-type="file" data-entity-uuid="482c9a58-49f1-4c53-a12e-aaa02336229f" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-24%20at%2011.20.57%E2%80%AFAM.png?VersionId=hZP8_XfPnfNq500dbcjlpVwYU1ebhF9_" />

Around three hectares of the site is considered developable, with the balance incorporating a riparian corridor that would be rehabilitated and revegetated as part of the proposal.

The indicative masterplan comprises approximately 72 apartments in low-rise residential buildings and another 58 townhouses and duplexes.

The apartment component would include around five one-bedroom, 37 two-bedroom and 30 three-bedroom residences, while the townhouse and duplex component would be spread across several different housing typologies. The overall scheme would deliver around 19,500 sqm of gross floor area at an FSR of 0.6:1.

Parking for the apartment component is currently estimated at around 112 resident spaces and 14 visitor spaces, while the townhouse and duplex component would have 116 resident and 12 visitor spaces.

A significant part of the masterplan revolves around retaining the established landscape character of the former Roche campus.

SJB's plans show heavily treed setbacks along both Campbell Avenue and South Creek Road, a centrally located collection of significant native and exotic trees retained as communal open space, and the regeneration of the northern bushland area.

The existing creek corridor along the site's western edge would also be rehabilitated and revegetated, creating additional separation between the new homes and the neighbouring Northern Beaches Business Park.

A heritage-listed cottage and its garden setting would be retained and restored, with SJB flagging its potential adaptive reuse as communal space.

The proposal also includes new communal recreation areas, pedestrian connections to Campbell Avenue and South Creek Road, and a contribution toward improvements to the adjoining Michele Reserve.

Vehicular access would be restricted to South Creek Road, with no vehicle entry proposed from Campbell Avenue. The main internal road would largely follow the site's existing driveway to minimise the impact on established trees.

SJB said residential redevelopment presented an opportunity to retain the majority of the site's heritage-listed mature trees while delivering a broader range of housing types than typically seen across the Northern Beaches.

"The site being 3.27 hectares in area represents one of the largest vacant sites in common ownership in the Cromer and Dee Why area capable of residential renewal," SJB noted in the masterplan.

The architect said the proposal would particularly target housing diversity through townhouses and other "missing middle" typologies suitable for singles, young families, downsizers and retirees.

<img alt="Cromer" data-entity-type="file" data-entity-uuid="e3f5d841-8491-427e-8ada-c70d3d03d6bc" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-24%20at%2011.21.02%E2%80%AFAM.png?VersionId=xTV7r.q8lrTzC9vKzMS9zMbjm9wKwhgm" />

The site emerged following the subdivision of the former Roche campus into eastern and western parcels.

EG has already transformed the western portion into the Northern Beaches Business Park, which incorporates heritage-listed office space, modern warehouses and indoor recreation facilities.

The proposed residential community, referred to as Cromer East in SJB's plans, adjoins established housing to the north, east and south-east, while the business park sits beyond the creek corridor to the west.

It is also within 250 metres of Pittwater House School and Northern Beaches Secondary College, while bus stops within a three-to-five-minute walk provide connections to Dee Why, Brookvale and express services to the Sydney CBD. Cromer Park and the South Creek open space corridor are also nearby.

EG acquired the broader 7.5-hectare former Roche campus in 2017 for $55 million through its Yield Plus Infrastructure Fund No. 2. The campus at the time comprised more than 25,000 sqm of industrial and office buildings set within landscaped grounds.

The current residential site represents the eastern portion of that original holding.

EG's investment strategy for the fund has centred on acquiring income-producing real estate with longer-term rezoning and repositioning potential, particularly assets benefiting from infrastructure and changing land-use patterns.

EG also has an established residential track record across Sydney, including Bosco in Five Dock, Tempo in Drummoyne, The Flour Mill in Summer Hill and Pindari in Randwick.

The developer says it has delivered more than 1,000 homes to date, with a further 3,000-plus residences across its development pipeline.

First look: EG plans 130 apartments on former Roche pharmaceutical campus in Cromer

<a href="https://www.apartments.com.au/developers/s-p-setia">SP Setia</a> has lodged plans for a $750 million, three-tower mixed-use precinct that would complete the long-running redevelopment of Carlton's former Carlton United Breweries site.

The proposal at <a href="https://www.apartments.com.au/new-apartments/185-195-queensberry-street-carlton-vic-3053">46-78 Bouverie Street and 185-195 Queensberry Street</a> spans a 6,468 sqm site, the last remaining undeveloped parcels within the former brewery's 2007 masterplan.

Designed by <a href="https://www.apartments.com.au/architects/cox-architecture">COX Architecture</a>, the development will comprise two purpose-built student accommodation towers and a third build-to-sell apartment tower above a shared commercial podium and basement.

Across the three towers, SP Setia is proposing 606 build-to-sell apartments and 1,499 student accommodation units containing 2,009 beds.

The apartments will sit in the tallest tower, which will rise nearly 200m and 55 storeys. It will become&nbsp;one of the more substantial new build-to-sell apartment projects at the northern edge of Melbourne's CBD.

The apartment mix is weighted toward smaller inner-city product, with 188 studios, 206 one-bedroom apartments, 192 two-bedroom apartments and 20 three-bedroom apartments

<img alt="First look: SP Setia plans three-tower finale for Carlton’s former CUB precinct" data-entity-type="file" data-entity-uuid="8271bc87-1b0a-41b7-ac73-a425ee375261" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/3_2.png?VersionId=G4lw23o90B1boX4k4dj7rdz2ZEajS9wy" />

Part of the precinct will be a large-scale&nbsp;3,684 sqm supermarket and a further 2,198 sqm of speciality retail, creating close to 5,900 sqm of new commercial space within the precinct.

But one of the biggest components of the proposal is what sits between the buildings.

Around 4,650 sqm, or roughly 72 per cent of the site, will be publicly accessible open space, incorporating plazas, pedestrian connections, landscaped laneways and retail spill-out areas.

The ground plane is intended to finally complete pedestrian connections envisaged when the CUB masterplan was first approved nearly two decades ago, stitching together Victoria Street, Queensberry Street, Bouverie Street and Swanston Street through the former brewery precinct.

Urbis said the development would "complete the CUB precinct", with the public realm providing important north-south and east-west connections through what is currently the final undeveloped portion of the masterplanned site.

SP Setia is also exploring a new linear park within the Bouverie Street road reserve, with the concept to be developed further with the City of Melbourne through the planning process.

The proposal is being pursued through the Victorian Government's Development Facilitation Program under Clause 53.23 for significant residential development with affordable housing.

The planning report acknowledges the proposed heights exceed those contemplated under the original Comprehensive Development Plan and masterplan, but argues the built-form context has changed considerably over the past two decades.

Urbis said the three towers would instead create a stepped transition between Carlton and the Hoddle Grid, rising progressively from the 94.1-metre Tower One along the Queensberry Street edge to the 199.44-metre Tower Three closer to the established CBD-scale buildings to the south.

<img alt="SP Setia" data-entity-type="file" data-entity-uuid="e885a07a-592c-40fc-bf82-e6dbaf32da54" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-21%20at%208.52.24%E2%80%AFAM.png?VersionId=7s_ErUkSKAdY1mAWp3GRZgMNCGtwhk5m" />

SP Setia plans to deliver the development across three stages.

Stage One would deliver the basement, podium and retail areas for the entire precinct alongside the first student tower. Tower Two would follow in Stage Two, before the 606-apartment Tower Three is delivered as the final stage.

If approved and delivered, the project would close out a redevelopment process that has been underway since the former brewery masterplan was approved in 2007, adding more than 2,600 student beds and apartments to a precinct already home to Swanston Central, the Barak Building, RMIT Design Hub and several large student accommodation developments.

&nbsp;

&nbsp;

SP Setia plans three-tower finale for Carlton’s former CUB precinct

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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Fully leased neighbourhood centre Norfolk Village in Gold Coast's Ormeau has been purchased by a Melbourne-based syndicate group for $9.7 million on a yield of nearly 7.2 per cent in an off-market deal.
Located at 174 Pascoe Road, the single-level building comprises 16 specialty tenancy retailers such as Subway, Ray White, L.J Hooker, a medical centre, dentist and bakery among others.
The centre is fully leased with the annual net income of approximately $700,000. 
Its site area is 6,161 sqm site with a total net lettable area of 1,481 sqm.
The deal was brokered by Stewart Gilchrist of Colliers International 
“Norfolk Village did not suit all investors who enquired due to the short WALE lease terms, however, it appealed to the purchaser due to its strong history of being fully leased with fixed annual rent increases,” said Gilchrist.
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Fully leased Norfolk Village in Gold Coast's Oremeau sold for $9.7 million

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Wingate Investment Partners Trust (WIP) fund has reached $270 million in funds under management in five years and the firm predicts it will grow to $1 billion.
Wingate managing director Ryan Levin attributes WIP’s success to its investment philosophy of having its own skin in the game – investing its own balance sheet and its principals’ and shareholders’ capital in deals together.
The WIP funds have delivered investors double digit returns consistently.
As the global economy continues to operate in an historically low interest-rate environment, sophisticated investors are seeking new options with a proven track record, without taking on greater risk.
WIP offers a diversified portfolio of secured debt with contractually determined outcomes, offering consistent double digit returns that are uncorrelated to volatile and uncertain financial markets.
If the risk isn’t good, Wingate won’t invest.
Wingate’s success has attracted high networth individuals and institutional investors across its four business arms: funds management, consumer finance, property lending and private equity.
Wingate says it currently has interests in a pipeline of more than $1 billion worth of Gold Coast high-rise apartments, and has recently financed deals including a $68 million redevelopment of a Byron Bay shopping centre and in its private equity business the firm launched Up&amp;Go in British supermarkets in 2015.
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Wingate's Investor Partners Trust funds under management reach $270 million

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Two industrial sites, one each in Sydney and Melbourne, totalling more than 20 hectare are being put up for sale by a corporate through real estate firm JLL.
While the Sydney site is 5.75 ha, the Melbourne offering is 16.7 ha and represent some of the last remaining large land parcels in South Sydney and Williamstown North industrial precincts, according to JLL.
They will be offered as a portfolio or separately via an expressions of interest campaign.
The Sydney site is at Coal Pier Road, Banksmeadow (above) and near Port Botany, Botany Bay and Sydney Airport. Major occupiers surrounding this land holding include Kelloggs, Visa Logistics, Toll, TNT and Bidvest. It will be offered for sale by JLL’s Michael Fenton and Blair Peterken. 
The Melbourne site at 85 Maddox Road, Williamstown North is currently vacant and is located west of the Port of Melbourne and the Melbourne CBD. 
The properties are being sold off as they are non-essential to the company’s operational requirements. 
Both are expected to attract domestic as well as international investors.
“Investors remain attracted to industrial development sites due to the lack of stabilised investment opportunities on offer,” Fenton said. 
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Industrial sites in Sydney and Melbourne on the market 

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An industrial facility located within the surging Illawarra region has been listed for sale by Knight Frank with price expectations of more than $24 million. 
Located at 9 Durgardin Drive within the regional centre of Albion Park Rail, it is close to the Wollongong CBD.
The property comprises commercial office and warehouse space across 31,500 square metres of site area and 360 car spaces. The property is offered in one line – however offers a registered strata subdivision, enabling future flexibility.
It is being offered for sale by expressions of interest closing March 17.
Knight Frank’s Ben Mostyn, Matthew Lee and James Mulcair are managing the sale on behalf of the Kollaras Property Holdings. 
Mostyn said the buyer profile would likely be “high net worth private investors, local and interstate syndicators and smaller trust funds” .
“The property offers a great mix of modern, functional improvements and the flexibility of existing strata division approvals. Currently leased to five tenants, the weighted average lease expiry is eight years – this is a secure investment opportunity.” 
Lee said the property was “underpinned by high-quality improvements which will be fit for purpose for the long term. With extensive frontage and exposure, blue-chip main industrial tenant Kollaras Trading Company – one of Australia’s largest privately owned liquor and tobacco organisations employing over 200 people – anchors this solid investment opportunity”. 
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Industrial complex for sale in Illawarra 

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Building services that support indoor environmental quality, lift performance and technology are among the top factors that drive the building selection decision, according to CBRE’s latest report.
However, current satisfaction levels amongst occupiers reflect the largest gaps between what is currently being offered and occupier expectations of these fundamental base building services.
As technology continues to evolve, the way we work is changing, creating the flexibility to work how, when and where we want; this can drive greater efficiency, supporting business growth as well as individual choice and work-life balance.
The war for talent continues to be a major focus for most organisations as they seek to attract and retain the best people.
Greater awareness is now being paid to the demands of staff and increasingly we expect to organisations evaluating their offerings to their people through location and building selection as well as workplace design.
There are now four generations represented in the workplace and this is resulting in a much more diverse workforce with differing needs and desires.
The CBRE Australian Millennials Survey: Myths and Realities revealed some of the demands of the Millennial generation around the workplace, with some surprising results.
Wellness and relaxation facilities ranked as the most influential amenity Millennials would desire when considering a new job.
At the same time, this factor also represented the biggest gap between desire and current provision in the workplace.
So what does this mean? A greater need for alignment in the real estate decision-making process between corporate real estate and human resources will emerge.
While corporate real estate has traditionally placed the greatest importance on cost, the core offering and base building services, there will be a greater shift towards the appreciation of the cost and value of an organisation’s people and ensuring that their demands are met.
This will drive an increasing demand for some of the softer tenant services and building differentiators such as wellness facilities and customer experience offerings such as concierge services.
According to CBRE’s Occupier Survey, the trend for workplace design is heading towards a more agile workplace format or one which endangers higher performance amongst employees.
An increasing number of occupiers planning a near-term redesign indicated they intend to implement this style of workplace format.
Occupiers who had redesigned in the past two years and adopted a more agile workplace format reported higher success ratings in achieving a number of business objectives, particularly around the areas of achieving knowledge sharing, collaboration and effective use of space.
They also gave the highest ratings in terms of their new workplace format increasing employee productivity, helping to attract and retain staff and improving the on-boarding of new and junior staff.
A high performance workplace format should be designed to enable employees to do their jobs in the most effective and efficient manner whilst also inspiring them and supporting their comfort and wellness.
Ultimately the goal of a high-performance workplace is to increase employee productivity and thus business profitability.
The next frontier in the evolution of occupier demand will be the expectation of an enhanced customer experience offering.
There is an increasing recognition that the customer relationship is now evolving beyond that of the landlord and the representative of the tenant that signs the lease.
It is now extending to include occupants of and visitors to the building.
With more diversity in the workforce, a more flexible approach to work and an increasing focus on wellness and work-life balance.
It will be imperative for landlords and building managers to ensure they are delivering an enhanced customer service experience to gain a competitive advantage in the marketplace and strengthen the landlord/occupier relationship.
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Lift performance, technology and indoor quality top factors in choosing offices: CBRE

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Performance in 2017 will differ markedly across the major cities throughout Australia as further divergence will occur in the hotel sector, according to CBRE’s latest report.
Some markets struggling to cope with unfavourable trading conditions and increases in supply.
However, the star performers of 2016 – Cairns, the Gold Coast, Hobart – will continue their rise off the back of renewed interest in their locale by both foreign and domestic tourists.
Figure 14 illustrates Sydney’s continued strong revenue per available room (RevPAR) growth off the back of favourable trading conditions in 2015.
<a href="https://www.propertyobserver.com.au/images/2017/02/17/Figure%2014.jpg" target="_blank">Click to enlarge</a>
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/02/17/Figure%2014.jpg" alt="">
In particular attracting a good mix of corporate and leisure tourists that enabled operators to increase room rates.
With the International Convention Centre opening in early 2017 Sydney room rates are expected to continue to climb off the back of increased corporate travel, albeit at a more moderate pace due to increases in supply.
Despite Melbourne’s strong start to the year there are signs that the market is struggling to cope with the increases in supply entering the market.
Melbourne’s strong performance historically has been largely driven by occupancy rather than room rate growth so any sign of occupancy pressure will see rates decline somewhat in 2017 before stabilising in 2018.
The resource markets of Brisbane and Perth continue to lag the rest of the nation; both saw revenue per available room (RevPAR) declines in the double digits.
The downturn in mining coincided with significant increases in supply in Brisbane which exacerbated the decline in performance.
A problem that Perth will have to contend with in the coming years as it nears the peak of the development cycle in 2018-19.
The more leisure-based destinations of Cairns, the Gold Coast and Hobart have been the star performers in the market as they continue to attract large volumes of both domestic and international visitors.
Admittedly these three markets are coming off a low base as a result of tough trading conditions pre and post GFC.
However 2016’s performance has still been impressive and is set to continue in the coming years as all three benefit from limited supply pipelines coupled with renewed tourist interest.
The year ahead will see increases in supply for the majority of key markets including Melbourne, Sydney, Brisbane and Perth.
However, they will all cope in different ways with Perth and Brisbane forecast to see further declines in hotel performance.
Whilst Sydney is expected to cope well with this increased supply, Melbourne will likely see small falls in room rates and occupancy levels.
Cairns and the Gold Coast have limited pipeline with no major new supply coming into the market in 2017.
“However, such is the interest in these regions we can expect to see developers announcing plans to enter the market, particularly the Gold Coast,” the report stated.
What will be of interest is the style of hotels that are announced in 2017 as recent trends reflect a shift towards greater tailoring of guest experiences such as Accor’s Mama Shelter or IHG’s EVEN Hotels.
In order to stand out from the crowd operators are offering unique experiences to pique interest and capture market share, particularly from the millennial generation, so we will see further announcements regarding these lifestyle brands coming to Australia.
The investment market has been dominated by overseas capital in the last three years and 2017 will likely be no different.
The current capital flight from China should continue to unfold and be the dominant source of capital in 2017 as investors seek safe-havens and long-term income generating assets.
Due to the tightly held nature of CBD markets investors will continue to look at fringe-CBD hotels as well as those in more regional locations such as Cairns and the Gold Coast.
Investors keen to move further up the risk curve will start to look at assets in Brisbane and Perth for potential counter-cyclical investment opportunities.
These markets have seen limited transaction activity over the last few years but such is the dearth of quality stock available in Sydney and Melbourne CBDs that investors may start to turn their attention back to these resource states.
<div>
Office to residential conversions have been popular with investors and developers alike over the last few years, particularly in Melbourne and Sydney.
But with the residential market showing signs of cooling, the potential for conversions earmarked for residential to change to hotels is increasing.
</div>
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Hotel market reporting struggles with supply increase and unfavourable conditions: CBRE

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Like most people, Australians are past sick and tired of their elected politicians, simply because they do very little and collectively can’t solve problems – in fact, they now make them worse. 
Speaking at the 2017 Committee for Economic Development of Australia summit Henry was scathing. “Australia had become so paralysed by political inaction that it had gone from an optimistic nation which pioneered world’s best policy and nurtured world’s best institutions to a place that nobody looked to anymore to see how it should be done.”
“Have you heard a political leader addressing that question? Do you think anybody has a clue? At the very least, we are going to have to find radical new approaches for infrastructure planning, funding and construction.”
“Based on current estimates, Australia needs to build a city for two million people every two years or a city the size of Melbourne or Sydney every decade yet the only plan seems to be stuffing more people into Sydney and Melbourne.”
 
He went on to say that four priorities could be met by adopting, as a minimum, eight reform proposals. These are:
<ul class="ul1">
<li class="li1">Apolitical infrastructure planning and pricing, including the widespread use of road user charging;</li>
<li class="li1">A much lower company tax rate, or some other mechanism that reduces substantially the cost to Australian businesses of equity capital sourced from abroad, achieved much more quickly than is presently under consideration by our Parliament;</li>
<li class="li1">The removal of stamp duties on residential property;</li>
<li class="li1">Symmetrical tax treatment of interest and capital gains;</li>
<li class="li1">An overhaul of state-based royalties;</li>
<li class="li1">Market-based price signals to guide climate change mitigation and long term investment in the energy sector;</li>
<li class="li1">A broader base and higher rate of GST;</li>
<li class="li1">A substantial adjustment to roles and responsibilities between the Commonwealth and the states.</li>
</ul>
Stamp duty on residential property was supposed to be removed when the GST came in on July 1, 2000. How can you justify a duty that has increased by over 800 per cent over since 2000, when it was agreed that it would be removed? It is a no brainer that the GST has to be increased although this time around stamp duty has to be abolished.
This week, the NSW Premier Gladys Berejiklian announced that the tunnel from Manly Vale to the Warringah Freeway was still going to happen although she could not say when? We all know that this won’t be happening given the Liberal Party has now been promising this tunnel since 2002. So, thousands and thousands of new apartments are approved and the NSW government does nothing for transport infrastructure. Then, of course, the NSW government announced late last year the Ingleside development with 3,400 new homes – this is just ludicrous.
No politician responded to the announcement from a new global report which found Sydney the tenth most expensive city in the world for residential tenants. How are young Australians supposed to be getting into our property markets when they are forced to pay some of the highest rents on the planet, then factor in stamp duty plus add another 10 per cent to their previous 10 per cent deposit to qualify for a bank loan? Superannuation is not the answer that is just a dumb solution. Malcolm Turnbull needs to be talking to Ken Henry and urgently implementing his solutions.
If you want to see the impact of stamp duty on property markets look at the graphs that we have compiled – look at the dramatic reduction in people selling.
<a href="https://www.propertyobserver.com.au/images/2017/02/24/Mosman-House-Sales-2016.png" target="_blank">Mosman House Sales</a>
<img src="https://www.urban.com.au/images/2017/02/24/Mosman-House-Sales-2016.png" alt=""> 
<a href="https://www.propertyobserver.com.au/images/2017/02/24/Mosman-Apartment-Sales-2016.png" target="_blank">Mosman Apartment Sales</a>
 <img src="https://www.urban.com.au/images/2017/02/24/Mosman-Apartment-Sales-2016.png" alt="">
<a href="https://www.propertyobserver.com.au/images/2017/02/24/Cremorne-House-Sales-2016.png" target="_blank">Cremorne House Sales</a>
 <img src="https://www.urban.com.au/images/2017/02/24/Cremorne-House-Sales-2016.png" alt="">
<a href="https://www.propertyobserver.com.au/images/2017/02/24/Cremorne-Apartment-Sales-2016.png" target="_blank">Cremorne Apartment Sales</a>
<img src="https://www.urban.com.au/images/2017/02/24/Cremorne-Apartment-Sales-2016.png" alt=""> 
<a href="https://www.propertyobserver.com.au/images/2017/02/24/Neutral-Bay-House-Sales-2016.png" target="_blank">Neutral Bay House Sales</a>
<img src="https://www.urban.com.au/images/2017/02/24/Neutral-Bay-House-Sales-2016.png" alt=""> 
<a href="https://www.propertyobserver.com.au/images/2017/02/24/Neutral-Bay-Apartment-Sales-2016.png" target="_blank">Neutral Bay Apartment Sales</a>
<img src="https://www.urban.com.au/images/2017/02/24/Neutral-Bay-Apartment-Sales-2016.png" alt=""> 
Why do politicians keep crucial infrastructure a secret? Well, that would be as Ken Henry correctly pointed out, “Australia has become so paralysed by political inaction”. To fix the problem you first need a model, and we now have one – courtesy of Ken Henry.
You can watch with interest how our elected politicians respond to Henry and his critiquing of the Australian economy. My money is on nothing happening as today we have political paralysis.
ROBERT SIMEON is a director of <a href="https://www.rwm.com.au/">Richardson Wrench Mosman and Neutral Bay</a> and has been selling residential real estate in Sydney since 1985. 
He has also been writing real estate blog <a href="https://www.rwm.com.au/news/">Virtual Realty News</a> since 2000.
 
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robertsimeon-hRNTwJyXkQ

To fix Australia’s housing affordability listen to Ken Henry

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A number of mining towns are recording ongoing falls in vacancies, signalling that the housing bust in the mining towns is possibly coming to an end, according to SQM Research’s latest newsletter.
Residential vacancies in Karratha, Port Hedland, Mackay and Gladstone are all down compared to his time last year.
<a href="https://www.propertyobserver.com.au/images/2017/02/24/Screen%20Shot%202017-02-24%20at%2010.32.12%20AM.png" target="_blank">Click to enlarge</a>
<img src="https://www.urban.com.au/images/2017/02/24/Screen%20Shot%202017-02-24%20at%2010.32.12%20AM.png" alt="">
Reflecting its high vacancy rate, Darwin continues to record big falls in asking rents, with units falling by another 2.5 percent for the month of January (houses down 0.1 percent).
Perth continues to record the largest yearly declines.
However, rents did rise slightly for the month at 1.1 percent for houses and 0.5 percent for units.
Meanwhile, Hobart is the strongest rental market in the nation with rents up by 6.7 percent for houses in January and 11.6 percent for units.
As noted, Hobart also has the lowest vacancy rate of all capital cities at just 0.7 percent.
Brisbane remains a flat rental market with falls in rents being recorded for units in the inner ring of between 2.5 percent to 5 percent declines, against the background of a relatively high vacancy rate of 3.3 percent.
Overall, rents continue to rise at about 2 percent per annum nationwide with some variability reflecting the mixed Australian housing market. 
So far, the feared oversupply for Sydney and Melbourne has not yet eventuated and we are aware of some scaling back of developments, particularly in the Melbourne rental market.
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Mining towns continue to have high vacancies and falling rents: SQM

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The room type that your property has will determine how much it costs per square metre, according to Secret Agent's latest report.
This section of the index breaks down properties into individual rooms to determine how much value each adds to the house.
Factors that had a significant impact on sale prices for both terraces and townhouses include location (suburb), time of sale, number of car spots and whether the house had a cellar.
Table 7 shows the expected price per square metre by room type, controlling for the abovementioned factors.
<a href="https://www.propertyobserver.com.au/images/2017/06/Table%207.jpg" target="_blank">Click to enlarge</a>
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/06/Table%207.jpg" alt="">
Note that the price per square metre for indoor space in both terraces and townhouses are lower than the first part of the study, which was a simple average analysis.
Overall, indoor space in terraces is worth about $2,600/m2 more than in townhouses on average, while outdoor space attracts a $450/m2 premium for townhouses over terraces.
Bedroom space was most valuable for terraces in our sample, at about $14,700/m2, just ahead of bathrooms ($14,000/m2).
Extra living space added the least value at $6,900/m2.
However, this does not mean that replacing living area with extra bedrooms is always a good idea: a functional balance is required.
Terrace homes with too many bedrooms and not enough bathrooms were expected to sell for a lot less than more balanced homes: $74,000 less if there were two more bedrooms than bathrooms, and $205,000 less with three more bedrooms than bathrooms.
This is compared to homes with one more bedroom than bathroom.
For townhouses, bedroom space ($6,200/m2) was worth significantly less on average than for terrace houses.
This is only slightly higher than expected value of living area ($5,900/ m2).
On the other hand, bathrooms, including ensuite and powder rooms, had the biggest impact on expected sale price, valued at $19,400/m2 on average, which is about $4,000/m2 more than for terraces.
The average total bathroom area for townhouses was 10.5m2, larger than the 8.3m2 average for terraces.
It is likely that bathrooms are more expensive per square metre for townhouses than terraces because these are nearly always new and therefore made of higher quality fittings and fixtures.
For developers, the data seems to suggest that buyers are looking for townhouses with a good balance between bedrooms and bathrooms, so adding a second bathroom to a two bed one bath townhouse is expected to yield the greatest returns.
Dining and kitchen areas added the least value in townhouses.
This could be because most kitchens in townhouses are of similar size and quality, meaning buyers take these as a given and do not value extra space as highly.
Other considerations
• As part of their study, Secret Agent looked at just about every conceivable room arrangement (central bathroom, living room, kitchen/dining, bedrooms on one end, bathrooms on both ends, etc.), and found that when it comes to layout, this did not have any significant impact on the average sale price in our sample. Whilst there is no doubt different buyers will prefer certain layouts, on average our data suggests that there is no dominant layout commanding a premium.
• The number of levels (ground, first, second) had no impact on average sale price of either terraces or townhouses.
• For terraces, whether the property was single or double- fronted made a difference, with double-fronted homes expected to sell for more.
For more information from Secret Agent, <a href="https://secretagent.com.au/" target="_blank">click here</a>.
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How extra bedrooms add to how much your property is worth: Secret Agent

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A freestanding industrial facility in Sydney’s Seven Hills Industrial Estate has sold for $5,275,000 to an owner occupier. 
The 5,525 square metre site at 7 Tollis Place comprises an office and warehouse. The property offers two levels of accommodation and access via two large roller shutter doors.
CBRE’s John Micallef, Greg Pike and Matthew Alessi negotiated the sale of the property.
Micallef said although the buyer was prepared to pay a premium price for the building due to the lack of alternative properties available in the area.
“The sale is further evidence of the current heated demand for industrial opportunities in Sydney’s west,” he said.
Image taken from Google Street View.
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