<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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Melbourne’s office market was expected to have compressed further in the quarter ended September 2016, helped by moderate deal activity and strong service sector jobs growth, according to the latest office market report by commercial real estate firm Cushman &amp; Wakefield.
The fourth quarter marked the last inflow of new stock in the current development cycle with the completion of Towers 2 and 4 at Collins Square, the firm says in its Q4 Office Market Outlook for Melbourne. 
With only the return of refurbished stock forecast for 2017, the new development cycle is expected to begin in 2018 with the development pipeline for completion stretching to the early 2020s. 
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Sydney pain is Melbourne’s gain too. With the Sydney CBD facing stock constraints and heated face rents, Melbourne’s attractiveness remains, says the report.
Moderate deal activity has fuelled expectations of further compression from the Prime-grade vacancy rate of 6.7 percent reported in July. 
Q4 prime gross effective rents rose 8.4 percent on an annual basis to $503 per sqm, with the upward trend expected to continue into 2017. 
“As Sydney prime gross effective rents are trading at a 77 percent premium to Melbourne, tenants operating in both cities may prioritise Melbourne for future growth,” it says.
Transactions of note in the quarter include Deloitte pre-committing to 22,000 sqm as anchor tenants at 477 Collins Street, and Transurban signing on for 14,000 sqm to anchor Collins Square Tower 5. Collins Square Tower 4 is now at full capacity with Devondale Murray Goulburn committing to 5,200 sqm and PEXA committing to 2,600 sqm. 
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The report forecasts strong rental growth in the near term as new supply will not be able to catch up with strong demand. 
“With a significant pipeline of confirmed and mooted future developments, and effective rents trading at a significant discount to Sydney, Melbourne appears to have time yet to run in this phase of the cycle,” it concludes.
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Melbourne office space expected to see strong rental growth: Cushman & Wakefield

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Office vacancy rates in Sydney in the quarter ended September 2016 are expected to have tightened below the 5.6% recorded in July, making prime-grade renting more expensive and the trend could linger in 2017, according to a new report by commercial real estate firm Cushman &amp; Wakefield.
The developments came amid a contraction in Australia’s economy in the the third quarter, the first since 2011, though New South Wales posted the strongest state final demand of all states and territories with 4.7% annual average growth, with the employment rate also improving.
According to the Cushman &amp; Wakefield report, economic factors and 189,000 sqm of stock withdrawals ensured a shortage of non-premium grade stock across the Sydney CBD in 2016, leading to a tightening in the vacancy rates to below the 5.6% recorded in July.
The tight market lifted Prime-grade gross effective rents by 4.3% quarter-on-quarter. 
<a href="https://www.propertyobserver.com.au/images/2017/01/11/Q4Syd-PrimeRent.png" target="_blank">Click to enlarge</a>
<img src="https://www.urban.com.au/images/2017/01/11/Q4Syd-PrimeRent.png" alt="">
<a href="https://www.propertyobserver.com.au/images/2017/01/11/Q4Syd-NetAbsorption.png" target="_blank">Click to enlarge</a>
<img src="https://www.urban.com.au/images/2017/01/11/Q4Syd-NetAbsorption.png" alt="">
“The growth was mainly driven by falling incentives as Premium grade face rents were stable; while face rent growth remains positive, the rate of growth slowed over the quarter,” says the report. 
B-grade stock also recorded a strong decline in incentives with gross effective rents up 7.9% QoQ to $727 per sqm, a 30% increase on 2015. B-grade partial floor vacancies are now attracting sub-15% incentives. 
Among the deals of note were Henry Davis York committing to an anchor tenancy of 7,000 sqm at 60 Martin Place and Atlassian committing to 5,500sq m at 363 George Street. 
<a href="https://www.propertyobserver.com.au/images/2017/01/11/Q4Syd-KeyDeals.png" target="_blank">Click to enlarge</a>
<img src="https://www.urban.com.au/images/2017/01/11/Q4Syd-KeyDeals.png" alt="">
<a href="https://www.propertyobserver.com.au/images/2017/01/11/Q4Syd-Projects.png" target="_blank">Click to enlarge</a>
<img src="https://www.urban.com.au/images/2017/01/11/Q4Syd-Projects.png" alt="">
The report’s 2017 outlook says “tenants will continue to prioritise affordability, followed by proximity to public transport and natural light”. 
Low vacancy rates, negative net supply and service sector growth is expected to continue to support rental growth across all grades. 
But the report ads that “as Sydney nears the peak of the office leasing cycle we anticipate face rental growth to slow with growth driven by declining incentives”. 
Nearly 300,000 sqm of withdrawals are expected to keep vacancy tight in 2017, predominantly associated with the Sydney Metro and Circular Quay redevelopments, it says.
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Sydney office vacancy rates likely tightened, trend could linger: Cushman & Wakefield

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A refurbished commercial retail building with potential holding income in Tweed Heads has sold at auction for $2.475 million through by Ray White Commercial.
The property at <a href="https://www.realcommercial.com.au/property-retail-nsw-tweed+heads-502213062" target="_blank">79-81 Wharf Street</a>, Tweed Heads, was snapped up by a private developer. 
The selling agents were Assi Dadon of Ray White Commercial GC South and Ross Smith of Professionals Coolangatta-Tweed Heads.
“We had strong inquiry and keen bidding at the auction where the property sold under the hammer for a healthy sqm rate of $1,744 per sqm,” Dadon said.
The price was the highest sale value at the Auction Spectacular held at Twin Towns last month, added Dadon.
The building is on a land area of nearly 1,290 sqm and is zoned B3 Commercial Core. It has B3 zoning which allows a mixed use of commercial and residential — more than 40 units. 
“The current improvements consist of a one level building ready to occupy for holding income while a DA is sought to add value and further develop.”
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Tweed Heads site sold at auction for $2.475 million

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A fully leased office property in Victoria’s Ballarat has recently been sold for an undisclosed sum after being brought to the market for $1.5 million.
Located at <a href="https://www.realcommercial.com.au/property-offices-vic-ballarat-502101306" target="_blank">801 Mair, Ballarat, Vic 3350</a>, in the heart of the medical precinct, the manor is spread over two floors.
The property has a land area of 1,396 sqm and is zoned Mixed Use.
Among the tenants are Lake Imaging who have a three-year lease with options for further extensions. Their current rental is $67,205 per annum plus GST and outgoings (57.2436%). Another tenant is Ballarat Psychiatry Group, also on a three-year lease and paying a rental of $39,446.76 per annum plus GST and outgoings (42.7564%). The property earns a total income of $106,651.76 pa.
The selling agent was Andrew Lewis of Colliers International.
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Fully leased office property in Ballarat changes hands

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A beachfront shop on the tourist strip in Gold Coast’s Coolangatta has sold for $725,000 through Ray White.
The <a href="https://www.realcommercial.com.au/property-retail-qld-coolangatta-501948594" target="_blank">15/120 Marine Parade, Coolangatta, Qld 4225</a> property is tenanted by Beach Seafoods which is on a four-year lease with options to extend it twice. 
It has a land area of 91 sqm.
The net income after all expenses from the property is $52,838 plus GST with provision for annual CPI increases.
The selling agent was Dru Morgan of Ray White.
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Beachfront shop in Coolangatta sells for $725,000

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A Chinese investor has paid $2.95 million on a tight 4.4 per cent yield for a fully leased property in Melbourne’s Greensborough with development potential, in a deal brokered by Savills. 
The <a href="https://www.realcommercial.com.au/property-retail-vic-greensborough-502077854" target="_blank">86-90 Main Street</a> property comprises three shops on a single level totalling 350 square metres on a 682 square metre site with ten car parks.
The property resides in the Main Street retail precinct and Greensborough Activity Centre redevelopment, and is directly opposite Greensborough Plaza.  
It was sold with a current net rental of $130,240, and at a land rate of $4,325 a square metre.
The selling agents were Nick Peden and Jesse Radisich of Savills.
“This property offered secure income from three longstanding tenants with excellent main street exposure in a fantastic location,” said Peden.
“It is also in the centre of a major retail and commercial precinct in Greensborough’s central activity centre and as such offered excellent potential development upside.’’ 
The Greensborough centre has already seen the completion of a $50 million aquatic centre and several commercial/retail projects, while development plans in the pipeline include approved mixed-use projects in Main Street of up to seven levels. 
Public transport such as Greensborough Railway Station and bus services were within easy distance.
"This was the perfect retail investment and land banking opportunity in one of Melbourne's most active retail hot-spots and the price reflected that,’’ Radisich said.
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Chinese investor buys Greensborough shops on tight yield through Savills

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A freestanding office and warehouse at Glendenning in Sydney’s outer west has been snapped up for $4.15 million in a deal brokered by Savills. 
The <a href="https://www.realcommercial.com.au/property-industrial+warehouse-nsw-glendenning-502124986" target="_blank">15 Belfast Place</a> property comprises a 2,054 sqm building with a two-level office and 1,387 sqm of warehousing space.
According to Savills’ Ray Trimboli, who managed the sale process with Robert Lowe, the property’s key attributes were its closeness to key arterials, excellent truck access and hardstand areas.
It has 8.8 metres internal clearance and six on-grade roller doors, and a 21 metre wide concrete hardstand area, and is close to the M7 Motorway. 
“The property attracted strong enquiry from both owner-occupiers and investors but ultimately sold to the adjoining owner who will use the facility to expand their business,’’ Trimboli said. 
The M7 Motorway is 1.8 kilometres to the South West while the M4 is 7.6 kilometres away and Richmond Road 1.4 kilometres.
The property was sold with vacant possession to the adjoining owner. The vendor was not disclosed.
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Glendenning industrial site exchanges hands for $4.15 million 

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A freestanding office building in Melbourne CBD’s legal precinct is being offered for sale through auction on March 3. 
Menzies, an indigenous and tropical health research institute, has appointed CBRE City Sales to divest its <a href="https://www.realcommercial.com.au/property-offices-vic-melbourne-502253190" target="_blank">563 Lonsdale Street </a>property, as it seeks to reinvest funds from the sale into the business. 
Located on a 336 sqm landholding with double street frontage, the property comprises a two-level commercial building comprising 670 sqm.
The property is being offered for sale with vacant possession.  
CBRE’s Nick Lower, Tom Tuxworth and Paul Tzamalis are the listing agents.
“In 2016, there was an unprecedented commercial sale activity in Melbourne’s CBD, with investors eager to capitalise on investment opportunities in the city’s most highly sought after pockets,” Lower said. 
With reduced stock supply in 2016, pent up demand and competition has resulted in record transactions in the Melbourne CBD, Lower said. 
Tuxworth said the property was also expected to draw interest from owner occupiers. 
“Due to record low interest rates and the SMSF investment vehicle, business owners are recognising the advantages of owning the premises they work in rather than paying rent,” said Tuxworth. 
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Research firm to sell Lonsdale Street building 

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In his recent presidential address to the American Economic Association, Nobel Laureate Bob Shiller drew attention to the importance of narratives in economics and, particularly, in financial markets.
This corroborates some recent research by the author and colleagues at the University of Queensland into the psychology of economic behaviour.
When we tell ourselves stories, we link up a number of different events into a coherent whole.
In financial markets and across the economy as a whole, these stories not only affect expectations but are expectations.
And expectations shape behaviour.
Our research shows that the more simple a story, the more it extends and agrees with preconceptions, the more persuasive it is.
A good story becomes embedded in investors’ minds; the story becomes the expectation.
If a narrative embedded in the mind of an investor tells a positive story about, for instance, profitability, they will act on it.
A positive story results in good news in the financial markets.
An example of what might occur when a powerful narrative spreads across financial markets is playing out right now.
The latest figures from the Australian Bureau of Statistics (ABS) reveal a huge spike in commercial loans last November.
Seasonally adjusted, there was a 14.8% increase in commercial finance from the month before.
The strange thing is, this surge occurred at the same time NAB’s Monthly Business Survey showed businesses were “increasingly concerned about the underlying momentum in the economy as evidence mounts that the non-mining economy is losing steam”.
Businesses expecting a sluggish future don’t suddenly go out and borrow 14.8% more money.
But we can see in the graph below that for much of the year business finance had been flat or declining. Until it wasn’t.
<a href="https://www.propertyobserver.com.au/images/2017/02/07/Screen%20Shot%202017-02-07%20at%2012.43.55%20pm.jpg" target="_blank">Click to enlarge</a>
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/02/07/Screen%20Shot%202017-02-07%20at%2012.43.55%20pm.jpg" alt="">
Now these are aggregate data; they tell us the change in the amount of lending to business done by the financial sector as a whole.
Even then, this spike is unusually massive, and therefore in and of itself in want of an explanation.
John Maynard Keynes wrote that surges in finance are supported by two factors: relatively cheap credit and expectations of future returns.
Without strong expectations of future returns, no amount of cheap credit can induce businesses to borrow and invest.
This is the famous “liquidity trap”.
Our research shows that a compelling story – one that extends and agrees with preconceptions – would have been sufficient to overcome the liquidity trap.
A mathematical principle called the “Chinese Whispers” theorem indicates that for us to see remarkable and sudden changes in economic systems we must be observing the effects of a powerful narrative supporting positive expectations (i.e. future profitability).
Meanwhile, a concept popularly known as “Made To Stick” indicates that a simple story, connecting emotionally charged ideas together while extending and agreeing with preconceptions, is sufficient to become embedded in minds and inform expectations.
In our research we demonstrate that this idea is the logical conclusion of a half-century of psychological research on cognitive dissonance, personality and “salience” in perception, as well as some simple mathematics.
You can see this play out in the headlines about the “Trump bump”.
Very soon after the Brexit vote and consistently afterwards, Theresa May indicated an eagerness to strike free trade deals with the US and Australia and Malcolm Turnbull concurred.
And while Donald Trump campaigned on anti-trade policies, these excluded the Anglosphere.
Further, the British economy did not collapse following the Brexit vote, and Trump’s policy platform included massive infrastructure stimulus, tax cuts and deregulation. Adding to all this, Congress and the Supreme Court are now Republican.
This is a positive narrative for expectations of future returns, because the Australian economy on the whole does not compete with the US and UK economies.
Rather, we help to supply their demand.
We have business to gain by participating in a strong Anglosphere economic bloc, and we have little business to lose.
Throughout financial history, there are other examples where powerful narratives have driven the markets.
John Kenneth Galbraith, in his history of money and the 1929 crash, tells us of at least three spectacular ones.
When King Louis XV granted the Mississippi Company the profits of the colony of Louisiana, its share price rose so high it reflated the French economy.
In his book, The Ascent of Money, Niall Ferguson shows us exactly how the narrative about the unbounded wealth of the Louisiana company drove this spread – in pamphlets, cartoons and posters.
When parliament granted the South Sea Company a monopoly over trade with the Spanish American colonies, its shares became so valuable it was for a time decided it, rather than the Bank of England, should assume responsibility for the British national debt.
The fact its merchants would have to run the gauntlet of the Spanish navy all the way across the Atlantic was conveniently ignored, while the story of fabulous riches from the new world captured the attention of investors.
The narrative of the Shenandoah Corporation beats them all. The initial call for investments was oversubscribed by a factor of seven.
Why? Because at that time a story was being told about the ability of fund managers applying “investment science” to obtain amazing returns.
“Trust the experts, they’ll make you a mint” is a simple story, connecting emotionally charged ideas together while extending and agreeing with our tendency to defer to the advice of the “wise men”.
Governments and investors ignore the power of storytelling at their peril.
The financial markets are not driven by the “mechanics” of interest rates and money alone.
They are driven by one of the most ancient traditions of humanity – stories.
We can lead an investor to liquidity, but we can’t make them drink without telling them a story about why it is so very tasty.
And if we want to stop them from drinking a really tasty poison, it’s not enough to make the poison a bit harder to get.
Either it has to be taken away (verboten), or a simple story, extending and agreeing with preconceptions, has to be told about why poison that tastes really nice is still poison.
<a href="https://theconversation.com/profiles/brendan-markey-towler-151862" target="_blank">Brendan Markey-Towler </a>is an Industry Research Fellow for the Australian Institute for Business and Economics and School of Economics at The University of Queensland. He is an author for <a href="https://theconversation.com/au" target="_blank">The Conversation</a>.
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j.ballantyne1990-6AQqhLzZaK

How storytelling drives finance and economics: Brendan Markey-Towler

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The following charts describes what the Reserve Bank of Australia knows about Australia's economy especially GDP growth and inflation:
<a href="https://www.propertyobserver.com.au/images/2017/01/06/RBA%20CHART-1.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/2017/01/06/RBA%20CHART-1.jpg" alt="">
<a href="https://www.propertyobserver.com.au/images/2017/01/06/RBA%20CHART-2.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/2017/01/06/RBA%20CHART-2.jpg" alt="">
<a href="https://www.propertyobserver.com.au/images/2017/01/06/RBA%20CHART-3.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/2017/01/06/RBA%20CHART-3.jpg" alt="">
<a href="https://www.propertyobserver.com.au/images/2017/01/06/RBA%20CHART-4.jpg" target="_blank">Click to enlarge</a>
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