<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.

[smartcode_project:default project_id=509 project_image_fid=365689]

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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Retail tenants seeking to capitalise on the potential of Coorparoo Square, Brisbane have committed to 80% of the total available lease area in the mixed-use precinct.
The development, due for completion in the third quarter of 2017, has secured 13 tenants, including cinema group Dendy and supermarket giant ALDI.
The leasing campaign has also attracted a range of innovative food outlets, including two burger retailers, Remy’s and Hello Harry, Mexican specialist Poblano, Saffron Indian, Mission Vietnamese and Kivahan bakery, as well as hairdresser TigerLamb and barber Chop Spot.
Coorparoo Square, a joint-venture project between Frasers Property Australia and Honeycombes Property Group, will deliver a major mixed-use precinct to the heart of Coorparoo, just 4.5 kilometres from the Brisbane CBD.
Coorparoo Square has been developed in line with the Brisbane City Council’s Eastern Corridor Neighbourhood Plan which showcases the principles of high quality urban design with a focus on transit-oriented communities catering to residents and workers. The precinct is a major transit hub within the city’s bus network.
The $252 million development, which comprises 366 residential apartments and 6,700 square metres of retail space is appealing to a broad suite of tenants.
Cameron Taudevin, head of retail leasing Queensland at JLL, said leasing enquiry has been strong for Coorparoo Square, complementing a near sellout of residential apartments in the development. He said Dendy and ALDI have been significant drawcards that have led to strong interest from national and local business operators.
“Coorparoo Square offers a great inner Brisbane location and the retail precinct benefits from the many apartments within the development,” said Taudevin.
“A number of prospective tenants who enquired as early as 2015 have secured leases in Coorparoo Square with the aim to open upon completion of construction in the third quarter of 2017.
Coorparoo Square has 12 tenancies remaining for lease, ranging in size from 53 square metres to 87 square metres at street level, and 200 square metres for a lower ground level tenancy.
“Our current focus is on groups with particular uses that suit the retail amenity, such as an artisan baker, beauty therapist, optometrist and complementary medical uses.”
Retail leasing enquiries at Coorparoo Square are being handled Cameron Taudevin and JLL Leasing Executive Taylor Macri.
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jonathanchancellor-7SQnKwU6yx

New Coorparoo Square precinct signs up ALDI among retail tenants

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GUEST OBSERVER
The tailwind is here. Higher commodity prices are boosting national incomes and the numbers are large.
Export values rose by a strong 32% year-on-year in December which drove the largest trade surplus on record. This is driving a strong rise in mining profits and tax revenues. The debate is about whether the lift in mining profits and taxes will boost wages growth, household spending and domestic inflation, as it has done in the past.
Will households feel the tailwind too? Some observers argue that without another mining investment boom or the government delivering personal tax cuts, both of which, we agree, seem unlikely, a rise in domestic wages and inflation will not happen. In our view, scale is important here. Although we agree that the income effect on households is likely to be less potent than in the past, some of the effect should still get through. Plus, this boost is in addition to the services sector growth story which is still humming along. We think this will keep the RBA from cutting further and expect that these same forces could mean rate hikes in 2018.
As we have been pointing out for some time now, we see the recent lift in commodity prices as having changed the economic story for Australia. For the past five years, Australia has sought to pull off a 'great rebalancing act' and this year with think that the rebalancing act is almost done. This is largely because the significant headwind that Australia has faced over the past five years, as a result of falling commodity prices and mining investment, is now becoming a noticeable tailwind. The resources sector is set to become a contributor, rather than a drag, on growth.
The past couple of weeks have revealed more evidence that the boost to incomes from higher commodity prices has already arrived. Export values rose by a strong 32% year-on-year in December, supported by a 127% rise in the value of coal exports. This drove a significant swing in the trade balance, from a deficit in October to the largest trade surplus in the history of the available numbers (since 1971) in December. Although we do not yet have the Q4 GDP figures, as chart 1 below shows, there is a strong positive correlation between commodity prices and Australia's nominal GDP growth. As a result, the RBA has been confident enough to recently state that higher commodity prices 'are providing a boost to Australia's national income'.
<img src="https://www.urban.com.au/images/2017/02/09/blo%20one.gif" alt="">
As the income has already arrived, the question is not whether there will be a pick-up in incomes, but whether it will flow through to the household sector, to wages and domestic inflation, as it has done in the past? On this, some observers argue that without another mining investment boom or boost to household incomes from personal tax cuts, both of which seem unlikely, a rise in domestic wages and inflation is unlikely.
We agree with some of these arguments, but think it is mostly a question of scale.
First, we agree that the pick-up in commodity prices is unlikely to stoke a substantial upswing in mining investment anytime soon. But we are not as convinced that this means you will not see any flow through to households. Keep in mind that mining investment is already set to stop falling from around mid-2017, as the resources sector shifts from new construction to maintenance and repair, which is now a larger spend than it has been in the past. Mining employment has also already started to stabilise and the timely mining sector job vacancy indicators are lifting. Spending on mineral exploration has also levelled out recently, after years of decline. Given the considerable recent boost to mining profits it seems unlikely, in our view, that mining sector wages growth will continue to fall as much it has in recent years.
Second, we agree that the federal government is unlikely to deliver income tax cuts, as it did between 2003 and 2007 when the commodity price super-cycle was first in its upswing. However, the corporate tax take will be boosted, which should take some pressure off the Federal budget. Some of this is likely to show up in the public sector wage bill. State royalties will also be boosted in Western Australia and Queensland and we expect some of this to trickle into state spending and public sector wages.
<img src="https://www.urban.com.au/images/2017/02/09/blo%20two.gif" alt="">
Overall, our strongest argument is that the significant scale of the ramp up in commodity prices, exports and nominal incomes means that at least some of the pick-up is likely to get through to the household sector, wages growth and domestic inflation. Just a levelling out of mining sector activity and incomes, after five years of decline should be expected to help see wages and domestic inflation stabilise. What we have seen is much more than this, with national income significantly boosted (again, see chart 1). Add to this that the non-mining economy has already been growing solidly, supported by low interest rates, the lower AUD and rising demand for services from Asia's growing middle classes.
Finally, it is worth keeping in mind that recent history supports the view that a lift in commodity prices should drive a pick-up in wages growth and inflation. As chart 2 shows, there is strong positive historical correlation between the terms of trade (think commodity prices) and unit labour costs (think wages). Given the scale of the ramp up in the terms of trade it would be surprising if unit labour costs did not lift at all. In turn, rising unit labour costs should be enough to support a modest lift in domestic inflation. In our view, the RBA only needs to be convinced that underlying inflation is past its trough to keep them from cutting. With this, we expect the RBA to be on hold through 2017 and to lift its cash rate in 2018.
Paul Bloxham is chief economist, Australia, New Zealand of HSBC.
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Will households feel the tailwind of rising commodity prices?: Paul Bloxham

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The Repco and Cash Converters retail outlets in Ipswich's Goodna has been sold for $4.15 million to a Melbourne investor.
The property, 179 Brisbane Road is fully tenanted on five year terms. It last sold in 2006 at $3.1 million.
It was put up for sale by its New Zealand based vendor in March last year.
Richard Blanch of Colliers International said there were a number of challenges with attracting offers of an acceptable level for the vendor, particularly the stigma around the 2011 flood.
“Everyone is acutely aware of the effect the flood had on Goodna, but what a cursory glance doesn’t show is the faith both tenants have in the location," he said.
“The Goodna store is one of Cash Converters’ strongest performers and both tenants re-signed long term leases post the flood.
“Few sites in Goodna offer the same sort of branding exposure to the Ipswich Motorway. This along with the tenants’ faith in the catchment, it gave the purchaser comfort to transact."
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Retail centre in Goodna sold to Melbourne investor

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The Junction Club in Moonee Ponds has been sold to the Moonee Valley Racing Club for more than $3 million.
The newly-redevelopment hotel features 80 gaming machines, sports bar, TAB facility, bistro and is near the Puckle Street retail strip.
The Victorian Harness Racing Club will continue to operate from their Melton headquarters.
CBRE’s Scott Callow and Will Connolly negotiated the sale. 
Mr Callow said several high profile clubs competed for the acquisition of the business, which is a rare offering in the current market.
 
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Moonee Ponds Junction Club sold

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Stockland has listed a 22,800sqm retail development site in its residential community south of Brisbane, Pallara.
It is part of the Lower Oxley Creek growth area and adjoins the established residential suburbs of Algester, Forest Lake, Heathwood and Acacia Ridge.
Potential developments include a supermarket, child care facility, medical centre, petrol station and fast food outlet. 
The site, on Gooderham Road, has three street frontages and is being marketed for sale by Michael Harcourt and Peter Tyson of Savills.
The residential development features 720 homes slated for the next 5 years as well as an industrial precinct.
Michael Harcourt of Savills Retail Investments said, the site presents a substantial retail land offering at the entrance to the Pallara community, which will be home to many young families.
“We are anticipating strong demand from developers for this high profile site due to its prime location along Gooderham Road, which connects the established suburbs of Heathwood, Willawong and Acacia Ridge, as well as the continued growth in surrounding areas such as Heathwood and Doolandella.”
The property will be offered for sale via Expressions of Interest, closing in March 2017. 
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Stockland lists retail development site in Brisbane's Pallara

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Cbus Property will build a W Hotel in Melbourne as part of its $1 billion mixed-use precinct Collins Arch.
The hotel will be completed in 2020. W Melbourne will feature 294 rooms across 15 levels, 40 suites and cocktail bar, restaurant, day spa, pool, gym, conferencing and ballroom facilities.
Melbourne interior design practice Hachem are deisging the hotel’s interiors.
Architects Woods Bagot and New York practice SHoP architects, will also design a sky bridge that links the dual towers.
W Melbourne, Collins Arch will be in the eastern tower of the dual tower project, which will also feature WELL-rated commercial office space, retail, hospitality and luxury residential apartments.
Sean Hunt, area vice president Australia, New Zealand and Pacific, Marriott International said the hotel would shake up Melbourne with its bold design, signature amenities and full calendar of events showcasing what’s new and next in fashion, music and design.
"W Melbourne will offer the brand’s signature Whatever/Whenever service philosophy and vibrant programming to guests, which fits seamlessly with Melbourne’s offering as an international food, culture and lifestyle destination," he said.
The deal, brokered by Michael Simpson, managing director of Savills Australia and New Zealand, involved the sale of the hotel component of Collins Arch to Daisho Development Melbourne.
”This is a globally significant deal, bringing a world-class hotel brand to Melbourne’s most ambitious architectural project, set to be a world class destination for Melbourne visitors and locals alike,” he said.
Three global law firms King &amp; Wood Mallesons, HWL Ebsworth and Gadens already confirmed as tenants in the office development.
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Collins Arch to feature Melbourne’s first W Hotel

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A five star boutique hotel complete with its own private aircraft hangar in the western NSW town of Mudgee is on the market through Savills.
The Hangar House hotel, run by Alexey Suarez Gonzalez, is next to the Mudgee airport,
It has a total lettable area of 1102 square metres.
It features six rooms, lounge, dining and kitchen areas, a manager’s residence, a <a href="https://hangarhouse.com.au" target="_blank">private hangar</a> and on-site parking on a 1881 square metre allotment.
Mudgee runway can be used at a cost.
<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/2017/02/08/hangar1.jpg" alt="">
Nic Simarro, Savills Senior Hotels executive said the property offered strong cash flow with the potential to continue trading as a flight school or as a prestigious home with a private hangar. 
"This is a one of a kind property which seldom comes to market and for that reason we are expecting a strong response from the market and especially from high net worth national and international investors," he said.
"It will suit buyers looking to retain the current use and or those looking for a high end Australian base with access to airport facilities."
Vendor Observe Air Pty Ltd, has not given a price indication.   
International Expressions of Interest close March 17 at 3pm
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Mudgee hotel has its own hangar

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Yields on industrial property in Sydney have fallen to record low levels, even lower than pre-GFC boom levels, according to new analysis by BIS Shrapnel.
The contraction in yields has been so extensive in Sydney that it has delivered the highest investment returns of any major non-residential property market since the GFC, with the exception of large format retailing. The performance was even more remarkable given that rental growth has been weak, says BIS Shrapnel.
It has been underpinned by falls in long interest rates, which in turn created the competition for property, and industrial property in particular. Average prime capital values in Sydney’s Outer Western region have risen by nearly 50% since 2009. 
At December, prime yields in the Outer Western region averaged 6.4%, 40 basis points below their pre-GFC financial engineering-induced boom in 2007 and a massive 230 basis points below GFC levels. 
Properties with 12+ years of WALE (Weighted Average Lease Expiry) are being negotiated in the mid 5% range, previously the domain of Australia’s major CBD office markets at their cyclical peaks.
WALE is a way of measuring the average time period in which all leases for a property will expire.
However, signs are emerging of potential change. 
A new study by industry specialists BIS Shrapnel concludes that industrial markets across Australia and, indeed, around the world are facing the prospect of a major disruption as a result of rising interest rates. 
“For the past two years we have been saying that long interest rates are unsustainably low in the longer term. They would eventually have to rise. The question is not if, but when and by how much”, the study’s author, Christian Schilling, says.
“Last November, we witnessed a step-up in bond rates following the US election and investor expectations have started to change.”
“We think there is more to come. Our forecasts are for a 150 to 170 basis point rise in the Australian government 10 year bond rate, most likely late this decade/early next decade.” 
“However, we may see long interest rates more quickly and by more than previously thought.” 
While the timing and magnitude of future rises are not set in stone, they will affect many parts of the industrial market. 
“Industrial property yields and bond rates are highly correlated: it’s not a 1:1 relationship, but when bond rates rise, yields soften and vice versa”, says Schilling. “Rising bond rates translates to lower valuations and investment returns.” 
It means that actual investment returns will be lower than what the market expects. “Investors buying now may struggle to achieve their hurdle rates of return over the next five years”, Schilling says. 
But softer yields also affect construction. Lower end values mean developments will no longer stack up at prevailing rents and costs. 
“Developers will have to pass on the increase in costs in the form of higher rents and/or lower incentives. Depending on how quickly the market adapts, we could see a significant pause in construction. In that case, higher rents will come about via falling vacancies.”
Regardless, rising bond rates will cause a major phase of transition in the industrial market. 
“It’s clear that the honeymoon period with double-digit investment returns from industrial property is coming to an end. The next few years will pose a challenge for everyone in the market.”
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Has the honeymoon for industrial property in Sydney ended?

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GUEST OBSERVER
Owners and tenants are constantly seeking new ways to drive efficiencies and cost savings to future proof these parks and facilities. 
In 2016, Frasers Property Australia completed its first 6 Star Green Star business park facilities in Rhodes Corporate Park (NSW), Horsley Drive Business Park (NSW), Ceva Campus in Truganina (VIC) and Yatala Central Industrial Estate (QLD). These projects demonstrate an unparalleled commitment to environmental and financial outcomes utilising cutting-edge sustainability initiatives.
Adopting the Green Building Council of Australia ratings
The Green Building Council of Australia (GBCA) is an independent, voluntary sustainability rating system for Australian buildings. Its Green Star rating is Australia's highly respected standard of quality for the design, construction and operation of sustainable buildings, fit outs and communities. Frasers Property has chosen this rating system to monitor its sustainability performance for its facilities as a direct result of the GBCA’s credibility within the property industry.
Further justification is the important role independent certification plays in the validation of sustainability outcomes. There is considerable dialogue about sustainability generally, however this is often not supported by credible third party validation. Green Star is Australia’s leading holistic rating tool for the property industry. 
Improving sustainability ratings
The focus for Frasers Property is to deliver direct and tangible benefits to customers by reducing total occupancy costs and operating expenses, whilst also improving the health and wellbeing of employees. From a business perspective, the ongoing pursuit of improvement in sustainability ratings for facilities demonstrates a commitment to market leadership.
This approach is critical to future proofing facilities so they continue to deliver value and remain competitive. Everyone now lives and operates in a carbon constrained economy and buildings are a significant contributor to greenhouse gas emissions. Reducing each building’s carbon footprint assists not just in alleviating further stress on the environment but also to improve the financial bottom line. 
Why is a 6 Green Star rating important? 
In 2015 Frasers Property committed to achieving a 5 Star rating for all of its facilities which has delivered considerable operational savings and health benefits for customers. However, there was a strong aspiration in the business to do more by pushing the boundaries of what a truly sustainable industrial development could be. 
Since the introduction of the Green Star approach, customers have firmly embraced the concept. This approach has also helped Frasers Property further align its values with its customers, with the shared commitment resulting in an even stronger bond between both. Further, the introduction of 6 Star was not only a considerable benefit to the environment but also provided enhanced financial benefits to customers as a direct result of reduced operating costs.
Frasers Property’s approach to improving the sustainability of facilities is driven by a desire to lower ongoing operating costs. Most new institutional grade business park facilities across Australia are rated 4 Star, however very little thought is given to customer benefits.  
A standard 15,000 – 20,000 sqm 4 Star rated facility is expected to deliver annual average savings between $1.50 – $1.75 p/sqm when compared with a standard Building Council of Australia compliant building. By investing in targeted initiatives and technology to achieve a 6 Star rating, these savings could be increased by approximately 165 per cent over a 10 year term. This rating can also deliver a cash flow positive result for the occupant from year one. Frasers Property works with customers in a variety of facilities from ambient warehouses and refrigerated cold stores to automated storage and retrieval systems to find a solution that best suits their long-term needs. 
Drivers sustaining 6 Star excellence
Frasers Property’s unrelenting focus is to be progressive and innovative to benefit both its customers and the communities in which it develops. In the pursuit of industry leading outcomes the intention is to initially educate the industry as to what is possible, and to then be the driver of that change.Beyond the choice it offers customers, this approach allows Frasers Property to benchmark not only what can be achieved but also how to improve. Green Star certification demonstrates that well designed assets can result in lower operating margins and provide future proofing against changes from a regulatory or utility cost perspective. 
In 2016 Frasers Property delivered approximately 280,000 sqm of industrial facilities across Australia. Forty three per cent achieved a 5 Star Green Star rating which recognises Australian Excellence in sustainable design, while the 57 per cent balance achieved 6 Star Green Star ratings. Significantly, this rating acknowledges World Leadership in sustainable design. 
Significant 6 Star benefits and features
The most significant benefits are the energy and water cost savings. Over the years, it has become clear that the way to ensure the longevity of facilities is to structure the outcome to benefit the consumer. The increased productivity of staff working in a space that promotes good design and environmental attributes is also a significant tangible benefit.  
The features of 6 Star facilities are many and varied. A representative selection includes:
•Solar panels as an energysource.
•Rainwater tanks for toilet flushing and landscape irrigation.
•Electric vehicle car charging points.
•Geothermal energy for heating and cooling the office.
•High efficiency LED high bay lighting with sensor technology to improve light quality, control and efficiency.
•Advanced lighting controls that use motion sensors and daylight harvesting.
•Lower toxicity materials and finishes.
•Increased fresh air flow at 50 per cent more than required by the Australian Standard.
•Glare control through blinds and shading devices.
Overall customers benefit by using considerably less energy. The remaining energy required can be purchased as 100 per cent green power.
Green Stars have a bright future
Each year the property industry continues to be one of the biggest contributors to greenhouse gas emissions in Australia. Industry bodies like the Green Building Council of Australia play a crucial role in rating the country’s sustainable buildings. Influential property developers seek to create a legacy in the communities in which they develop. They have a responsibility to seek ways to reduce their carbon footprint, reduce the overall impact of buildings and to improve the health and wellbeing of those who use them. In the pursuit of excellence, intelligent thinking is required.
REINI OTTER is executive general manager at C&amp;I Frasers Property Australia and can be contacted <a href="https://www.frasersproperty.com.au/">here</a>.
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jchancellor-FAypfDUnLy

Six Star Green Star business parks are the future 

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An award-winning restaurant/function centre set on more than 6.88 ha in Olinda, Victoria has sold for $2.5 million through Ray White after a price reduction.
Olinda Tea House, Wedding, Conference Centre and Flower Farm at <a href="https://www.realcommercial.com.au/property-hotel+leisure-vic-olinda-502134650" target="_blank">86 Olinda Monbulk Road, Olinda, Vic 3788</a> is one of the most iconic venues across the Dandenong Ranges, according to the property’s description.
The property's features include a restaurant/function centre with clear-span dining area, commercial kitchen, guest/staff amenities and office facilities.
Designed by Smith + Tracey Architects this eco-friendly and award winning building is oriented to maximize north solar access and views down the valley. Solar panels run along the rooftop for energy efficiency.
Other features include a four-bedroom residence with its own private driveway and gardens. Around an hour's drive from the CBD in one of Victoria's premier tourist precincts.
The flower farm is leased. 
The property was listed in September 2015 for $3.6 million and spent 523 days on the market, according to RP Data.
<div title="Paul Waterhouse">The selling agents were Paul Waterhouse and Stefanie Taylor.</div>
 
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