<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;

Joel Robinson

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

Melbourne developer Lowe Living is seeking to add to its growing bayside apartment pipeline, filing plans for a boutique eight-residence development in tightly held Middle Park.

Lowe Living, which has built much of its development portfolio across Melbourne's affluent bayside and south-east suburbs, is behind the plans for the 730 sqm site at <a href="https://www.apartments.com.au/new-apartments/123-125-erskine-street-middle-park-vic-3206">123-125 Erskine Street</a>, just off Armstrong Street and within the Armstrong Street Neighbourhood Activity Centre.

The developer is seeking approval for a five-storey residential building above two basement levels, with just eight large-format apartments and 18 car spaces.

“This is a deliberately very different proposition for us,"&nbsp;Tim Lowe, Co-Founder of Lowe Living, said.

"Eight residences is exceptionally boutique, but that's precisely what this site calls for.

“There is a strong community in Middle Park and the surrounding suburbs who have spent decades building a life here. They no longer want the maintenance of a large period home, but they aren't prepared to compromise on space, quality or location. We think there is a real opportunity to capture that hyper local market. A site like this rarely comes to market.”

<img alt="Lowe " data-entity-type="file" data-entity-uuid="875fe572-0f14-4d90-9e11-55b28dd07731" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-21%20at%208.42.49%E2%80%AFAM.png?VersionId=GDNQRv9BfpR9r1zkZ5UDyUM4ZvpIksut" />

The low-density proposal has been designed by Cera Stribley and is being progressed through the Victorian Government's Great Design Fast Track pathway, having already secured eligibility from the Minister for Planning.

The Office of the Victorian Government Architect supported its eligibility after finding the proposal demonstrated consistency with the program's seven design principles, while the project's financial feasibility has also been independently confirmed by Invest Victoria.

The project is targeting the downsizer market, with the planning documents describing the homes as larger-format residences and noting the two penthouses could otherwise have been configured as four separate apartments.

<img alt="Lowe 2" data-entity-type="file" data-entity-uuid="60ab0987-2da6-4175-adac-315dcf6053c6" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-21%20at%208.43.15%E2%80%AFAM.png?VersionId=bOCPH0B2MFwlmaRW.TTCF9TzyifgVoQI" />

The site has dual frontage to Erskine Street and Canterbury Place and currently comprises a collection of commercial buildings used as offices, including a former heritage bakehouse, a former stable, a later gabled addition and a central courtyard.

It sits within the Commercial 1 Zone and the Armstrong Street Commercial Precinct heritage overlay, with the existing property classified as a contributory heritage place.

Heritage has subsequently played a significant role in Cera Stribley's design.

The front section of the former bakehouse facing Erskine Street will be retained, including its return walls, street-facing hipped roof and chimneys, while the Erskine Street façade and part of the western return wall of the former stable will also be incorporated into the new development.

Levels four and five will be set back five metres from the retained stable façade, while bricks removed through demolition are proposed to be salvaged and reused within the new building where possible.

<img alt="Lowe 3" data-entity-type="file" data-entity-uuid="e97927a9-a2de-4a0f-83b6-65451238abfa" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-21%20at%208.43.06%E2%80%AFAM.png?VersionId=VR44AChLrX9q1XPB9GvVQV.ALXXbe4gC" />

Rather than presenting as a single five-storey building to Erskine Street, Cera Stribley has broken the development into a series of distinct forms.

A three-storey infill element will sit between the retained bakehouse and stable façades, with the upper levels recessed behind the heritage fabric. Canterbury Place will similarly feature two three-storey podium forms, separated by a central pedestrian accessway, before the upper two levels step back from the street.

A pedestrian through-link will run through the centre of the project between Erskine Street and Canterbury Place, creating entrances from both sides of the site and introducing landscaping and communal areas through the ground plane.

Landscape architect Acre has designed planting across the ground level, private terraces and upper levels, including a feature canopy tree at level three and integrated planting and arbours across the level four terraces. Five existing Erskine Street trees are proposed to be retained.

Sustainability is also a significant component of the Great Design Fast Track application. The apartments are targeting an average eight-star NatHERS rating, with no residence below 6.5 stars, while the project has achieved a 75 per cent BESS score. Seven of the eight apartments are designed for cross-ventilation, with the remaining residence using mechanically assisted natural ventilation.

The plans also incorporate an 8kWp rooftop solar system, a 5,000-litre rainwater tank and infrastructure allowing future electric vehicle charging for every residence.

Lowe has a strong portfolio across Melbourne's blue-chip suburbs. They recently launched <a href="https://www.apartments.com.au/new-apartments/jardin-house-by-lowe-living-camberwell-335-camberwell-road-camberwell-vic-3124">Jardin House by Lowe Living</a> in Camberwell, their first development in the Stonnington LGA.

Lowe Living unveils Middle Park apartment development

Article summary

<ul data-end="888" data-start="289">
	<li data-end="442" data-section-id="8tsh6o" data-start="289">DVB Projects is preparing to launch its second Gold Coast apartment development, with demolition now underway at 137 Old Burleigh Road, Broadbeach.</li>
	<li data-end="573" data-section-id="1nyxl3e" data-start="443">The 34-level tower will comprise just 49 ultra-luxury residences, including half-floor, full-floor and penthouse apartments.</li>
	<li data-end="717" data-section-id="oiyimj" data-start="574">The launch follows strong demand at DVB's nearby Sea Glass project, which is more than 50 per cent sold and currently under construction.</li>
	<li data-end="888" data-section-id="epk9o9" data-start="718">The development adds to the transformation of Old Burleigh Road, with premium beachfront apartment projects continuing to reshape the tightly held Broadbeach strip.</li>
</ul>

<a href="https://www.apartments.com.au/developers/dvb-projects">DVB Projects</a> is preparing to launch its second Gold Coast apartment development, with demolition now underway on the Broadbeach site as the Sydney developer moves closer to bringing the ultra-luxury project to market.

The 34-level tower at <a href="https://www.apartments.com.au/new-apartments/137-old-burleigh-road-broadbeach-qld-4218">137 Old Burleigh Road</a> will comprise just 49 residences, ranging from half-floor apartments through to full-floor homes and a penthouse. The launch follows the strong sales performance of DVB's nearby Sea Glass development. More than half of the apartments at Sea Glass, on the other side of Broadbeach, have been snapped up, well ahead of its late 2027 completion

<img alt="DVB Projects to commence demolition on $320m Broadbeach luxury tower" data-entity-type="file" data-entity-uuid="2944b4be-c84e-4b54-8dc1-c712e76704c0" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/E02_Exterior_Street%20Level%20Entrance.jpg?VersionId=YoNig7pRdrE3HCue7sUj78LzJteeQf3H" />

The start of demolition at 137 Old Burleigh Road signals DVB Projects’ underlying confidence in the Gold Coast’s luxury beachside apartment sector.

“We see the Gold Coast as one of the most compelling lifestyle markets in Australia, particularly at the premium end where demand continues to deepen,” said Dean Brown, Managing Director of DVB.&nbsp;

“This project has been carefully designed to respond to that demand - delivering large-format residences with a level of quality, privacy and amenity that is still relatively rare in the apartment market on the beachside."

Brown says the site itself is "exceptional."

"Old Burleigh Road is one of the most tightly held beachfront strips, and opportunities to deliver a project of this scale and calibre in this location are extremely limited.”

<img alt="DVB Projects to commence demolition on $320m Broadbeach luxury tower" data-entity-type="file" data-entity-uuid="398f377a-c037-455e-9250-0c5e0d84c35b" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/I12_FF%20Balcony.jpg?VersionId=NwOiRWGMubR1c8wthuEfggklcja7al9." />

The project will comprise 40 half-floor residences of approximately 260 sqm, alongside eight full-floor residences spanning around 524 sqm.

A single penthouse will crown the building, featuring a private pool, barbecue area, indoor gym and dedicated entertaining spaces.

Residents will have access to a resort-style suite of amenities, including a 20-metre pool with daybeds, a gymnasium, hot and cold plunge pools, a sauna, and private residents’ lounge and dining facilities.

<img alt="DVB Projects to commence demolition on $320m Broadbeach luxury tower" data-entity-type="file" data-entity-uuid="d1642bb0-9a66-4427-a022-dfc0988c6287" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/A02_Pool%20to%20View.jpg?VersionId=c0IXPyn_Gp_Kn3XCwzMrqIVkAdCEwVXP" />

Sales agent Todd Matheson, of <a href="https://www.apartments.com.au/project-marketer/pezet-matheson">Pezet Matheson</a>, which is marketing both 137 Old Burleigh Road and Sea Glass, said 137 Old Burleigh Road would address a clear gap in the market for genuine luxury products.

“There are very few opportunities on the Gold Coast where buyers can secure a residence of this size and quality in a new building,” Matheson said.

“What we’re seeing is a growing cohort of downsizers and interstate buyers who still want space - they’re not willing to compromise on living area, entertaining or finishes.

“This project has been designed with that buyer in mind. It offers the scale of a home, combined with the convenience and security of apartment living, in one of the coast’s most desirable positions.”

<img alt="DVB Projects to commence demolition on $320m Broadbeach luxury tower" data-entity-type="file" data-entity-uuid="59aae0ca-5639-4320-8aca-d0bf60f48e43" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/E01_Exterior%20Hero.jpg?VersionId=DS8Zfy2WtgUEtdfe0TEUuf1W1GfcZq8S" />

Located on a 1,156 sqm site one block from the beachfront, the development will replace an ageing walk-up building and is expected to contribute to the ongoing transformation of the Old Burleigh Road strip into one of the Gold Coast’s most prestigious residential corridors.

With the development moving into the delivery phase, 137 Old Burleigh Road is slated to hit the market later this year.

[smartcode_project_cta:default project_id=145141]

DVB Projects to launch second Broadbeach apartment tower as demolition commences

<a data-end="327" data-is-only-node="" data-start="250" href="https://www.apartments.com.au/developers/norus-projects" rel="noopener" target="_new">Norus Developments</a> has lodged plans for a new apartment development in Clayton that would add further momentum to the suburb's emerging Green Street corridor.

Plans have been lodged for the consolidated site at <a href="https://www.apartments.com.au/new-apartments/1359-1365-centre-road-clayton-vic-3168">1359-1365 Centre Road</a>, where Norus is seeking approval for 218 apartments across a 12-storey apartment building designed by <a href="https://www.apartments.com.au/architects/life-architecture-and-urban-design">Life Architecture</a>.

The proposal sits within the Clayton Major Activity Centre at the threshold of the planned Green Street corridor, a landscaped pedestrian connection intended to improve links through the precinct towards Clayton Railway Station.

The development would replace the site's existing collection of low-scale residential and commercial buildings with a single consolidated building, introducing significantly greater housing density to this part of Centre Road.

A retail tenancy is proposed at ground level to activate the Centre Road frontage, accompanied by transparent street interfaces and landscaping intended to create a more pedestrian-focused edge to the development.

<img alt="First look: Norus Developments plans landscape-led apartment project for Clayton’s emerging Green Street" data-entity-type="file" data-entity-uuid="0a5a763a-d9e9-4253-af2f-88008de27ebf" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Clayton%20a.png?VersionId=S2WJJbat1XVkZwB9SnYtygirXgWHiklX" />

The building has been designed with stepped massing and upper-level setbacks to manage its transition towards surrounding residential properties. The planning report describes the approach as one that integrates the building into the landscape rather than treating landscaping as a secondary element.

"A strong landscape and public realm strategy underpins the proposal," Urbis states in the planning report.

"Public benefits include an affordable housing contribution, a new pocket park, generous landscaped setbacks, deep soil planting and integrated Water Sensitive Urban Design."

The report adds that these elements are intended to create "a permeable, pedestrian-focused ground plane that enhances walkability, supports urban cooling and reinforces the emerging Green Street character."

Biophilic and passive design principles extend through the residential levels, with planting, daylight, natural ventilation and views towards landscaped areas forming part of the amenity strategy.

Parking would be concentrated away from the public realm, with 145 car spaces proposed from the rear laneway rather than dominating the Centre Road frontage.

The proposal follows an extensive pre-application process with the City of Monash. Three formal meetings were held between the project team and Council from December 2025 to March 2026, with the scheme evolving through several concept iterations before the current design was lodged.

The project arrives as Clayton prepares for substantial change around its established activity centre and the wider Suburban Rail Loop precinct. Its position on Centre Road places the development within an existing concentration of shops, services and public transport, while the Green Street connection is intended to strengthen pedestrian access towards Clayton Railway Station.

First look: Norus plans landscape-led apartment project for Clayton’s emerging Green Street

<a href="https://www.apartments.com.au/developers/gardner-vaughan-group">Gardner Vaughan Group</a> has officially commenced construction on Bronze on Chevron, celebrating the sod turning of its first-ever Gold Coast development and marking a significant milestone in the company's continued expansion across South East Queensland.&nbsp;

Following the successful delivery of premium residential developments throughout Brisbane and the Sunshine Coast, <a href="https://www.apartments.com.au/new-apartments/bronze-on-chevron-8-mawarra-street-chevron-island-qld-4217">Bronze on Chevron</a> represents Gardner Vaughan Group's entry into the Gold Coast market. Bronze will deliver 119 one, two, three and four-bedroom apartments above two ground-level retail tenancies.

[smartcode_project:default project_id=107520 project_image_fid=367193]

The recent sod turning ceremony was attended by Deputy Mayor Mark Hammel, President of the Surfers Paradise Surf Life Saving Club, Cassandra Sedgman, project consultants, purchasers, project partners and invited guests to celebrate the commencement of construction.&nbsp;

Gardner Vaughan Group Chief Executive Officer Simon Betteridge said Bronze on Chevron represented an exciting new chapter for the business.&nbsp;

"We've spent almost four decades building homes that respond to the way people want to live, and we're excited to bring that experience to <a href="https://www.apartments.com.au/developments/chevron-island-qld-4217">Chevron Island</a>," Betteridge said.

"Bronze on Chevron is particularly significant because it marks Gardner Vaughan Group's first development on the Gold Coast following many successful projects across Brisbane and the Sunshine Coast."

[smartcode_project:default project_id=107520 project_image_fid=367183]

Betteridge said the ground breaking is a proud moment for the&nbsp;team and their purchasers, who can now see their future homes beginning to take shape.&nbsp;

"As both developer and builder, we're able to oversee every aspect of the project from design through to construction, ensuring the quality and attention to detail Gardner Vaughan Group has become renowned for."&nbsp;

Designed by acclaimed architectural practice <a href="https://www.apartments.com.au/architects/cottee-parker-architects">Cottee Parker</a>, Bronze on Chevron has been thoughtfully designed to complement Chevron Island's evolving streetscape while embracing its relaxed coastal lifestyle.

The development will offer generous residences with refined interiors, premium finishes and resort-style amenities, with completion anticipated in early 2029.&nbsp;

[smartcode_project_cta:default project_id=107520]

The development will offer generous residences with refined interiors, premium finishes and resort-style amenities, with completion anticipated in early 2029

Gardner Vaughan Group breaks ground on first Gold Coast development, Bronze on Chevron

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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Multiplex has delivered the fourth tower within Walker Corporation’s $2.5 billion landmark Collins Square development located at 727 Collins Street in Melbourne’s CBD.
The 22 level tower comprises just under 40,000 square metres of commercial office space (NLA) over 15 floors, as well as a six level car park providing just over 200 car spaces.
The construction of the tower generated approximately 1000 jobs and used some 13,000 cubic metres of concrete.
It comes with a 50 metre high internal greenwall, 11,000 square metre curtain wall and an internal glazed atrium.
Collins Square is a $2.5 million development spanning a city block and consists of five commercial office buildings providing over 200,000 square metres of net lettable area. The project is expected to be completed by mid-2018.
<img src="/images/2016/11/02/CollinsSq_Aug2016_1.jpg" alt="">
“We are delighted to have delivered the fourth stage of Collins Square. This market leading commercial development responds to the high demand for brand new commercial space in Melbourne CBD and the design complements the surrounding streetscapes,” said Graham Cottam, Regional Managing Director of Multiplex Victoria.
Complexities faced during construction include the time restraint of completing a 14 month construction program with an integrated fitout. There was also the challenge of working with a live site adjacent to two interconnected buildings.
The Collins Square development has a Green Star Design and As Built v3 Rating as well as NABERS Energy 5 Star Rating due to its use of the a Tri-Generation system for producing power; along with the rainwater harvesting system and water efficient fixtures and fittings.
Multiplex has over $800 million worth of residential projects currently under construction in Melbourne including Platinum Tower in Southbank along with Australis, Bella Apartments, Melbourne One and Southbank Grand.
</body></html>

j.ballantyne1990-6AQqhLzZaK

Fourth tower constructed at Collins Square Melbourne by Multiplex

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A fully-leased retail centre on Bribie Island, north of Brisbane, has been sold for $7.3 million.
The Bribie Retail Centre located at 5-7 Fortune Avenue, Bongaree boasts a high-profile location in the heart of Bribie Island’s main retail precinct.
The property was sold by Glenn Conridge of Burgess Rawson and Jon Tyson of Savills following an expressions of interest campaign that attracted multiple offers.
The property was purchased by Brisbane-based syndicator Arcana Capital, chaired by former Queensland Premier Campbell Newm‎an.
The property is set on a site area of 5,916 square metres and features a total floor area of 1,567 square metres.
Jon Tyson said the Bribie Retail Centre benefits from its prominent location in the dominant retail precinct on Bribie Island as well as its dynamic mix of well-known retailers and strong lease expiry profile of circa 4.6 years.
He said the centre is adjacent to the Woolworths-anchored Bribie Island Shopping Centre, and a future proposed Coles Shopping Centre.
"The modern architect-designed building is divided into four tenancies occupied by Domino’s, Tattsbet, Supercheap Auto and Bargain City with three-street frontage to Fortune Avenue, Bongaree Avenue and Goodwin Drive plus ample grade level parking at the shopfronts."
It also neighbours a freestanding Mitre 10 property that was recently sold by Burgess Rawson and Savills in a separate sale to a private buyer for $2.6 million.
 
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Retail centre at Bribie Island sells for $7.3 million

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A property investment at Chatswood has been sold at an auction.
Located at <a href="https://www.commercialrealestate.com.au/property/301-7-railway-street-chatswood-nsw-2067-2012992438" target="_blank">301/7 Railway Street</a>, Chatswood, it has a freshly renewed three year lease that expires on August 2019 with options to extend.
It is leased to Myhealth Medical Centres as its head office premises.
It is an ultra-modern Chatswood CBD building located adjacent railway station.
It is an easily managed investment with an annual rent increase to greater of CPI or 3% with a net income of $67,200 per annum plus GST.
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Office property investment at Chatswood sold at auction

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A concentration of growth in the NSW and Victorian economies and in service industries will continue to support occupier demand and outperformance in the Sydney and Melbourne property markets in FY17, according to Dexus Property Group's latest quarterly report.
Key assumptions affecting the near-term outlook include:
NSW and Victoria will solidly outperform other states based on population growth and infrastructure spending. Queensland is forecast to improve, while WA will continue to lag.
<a href="/images/2016/10/28/Figure%201.jpg" target="_blank">Click to enlarge</a>
<ul>
<li><img src="/images/2016/10/28/Figure%201.jpg" alt=""></li>
</ul>
Official cash rate to remain unchanged over the next 6 months with a bias to move lower in 2017.
Residential construction activity is expected to slow and could be a key risk to growth (FY18- FY19) if it slows more sharply than forecast.
<a href="/images/2016/10/28/Figure%202.jpg" target="_blank">Click to enlarge</a>
<img src="/images/2016/10/28/Figure%202.jpg" alt="">
Employment growth is positive, but the rate of growth is slowing with a continued shift from full time to part time jobs.
Service sector activity (such as education, health, IT, tourism and business) will remain a growth driver for the economy. Growth will be higher for small to medium businesses than large businesses.
The property markets of Sydney and Melbourne are forecast to show positive occupier demand over the next 12 months with mixed demand elsewhere.
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Bond yields are expected to stablise at/near current levels and rise at a slower rate than in the US over the medium term, staying low by historical standards.
Property yields are expected to remain at low levels for a considerable time unless there is an external shock or disruption to capital flows.
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Population growth to help NSW and Victoria property outperform: Dexus

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A property leased to Metro Petroleum at Haberfield, Sydney has been sold for $4,800,000.
The 1151 square metre property is located at <a href="https://www.burgessrawson.com.au/buying/NSW/Inner-West/Haberfield/Retail/2P1278#.WBPd4NxJtyw" target="_blank">163-165 Parramatta Road</a> and has a new lease from 2016.
It is a recently refurbished site with new high speed bowsers that have been there for 30 years.
The property does have further redevelopment/rezoning potential (STCA) and the valuable redevelopment clause is in the owners favour with 50,000 cars passing daily.
The tenant pays all outgoings, including 100% land tax with a strong 4% annual increase with a net income of $288,000 per annum plus GST with a predicted net income of $336,919 in 2021.
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30 year old petrol station at Haberfield sold for $4,800,000

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The Brisbane industrial market remained steady throughout the first half of the year as leasing and sales transactions were limited.
However, there is a growing sense that urgency will return to the market in the near term as increased enquiry, reduced supply and competition intersect in late 2016, according to Simon Beirne, Colliers International's state chief executive – Queensland.
Beirne says the development pipeline shows the number of properties available for purchase or lease remain limited and a number of requirements are concluded.
“Recycling of capital is also becoming a consideration for owners as investment grade opportunities are scarce,” he said.
“It is expected that these factors will intersect towards the end of this year and into 2017.
“Leasing activity remained subdued in early 2016 as the majority of deals completed fell in the 3,000 square metre to 4,000 square metre range. Activity accelerated for larger deals in the closing stages of the second quarter as number of major briefs were released to market.
“The vacancy rate across Brisbane has increased to 17%t from 13% back in March 2016, but a number of large deals are currently underway and a wave of leases are due to commence in the coming months.”
Leases for a total of approximately 110,000 square metres are due to commence across a number of deals for a mix of buildings and locations including Bevchain, Schweppes, Beaulieu Carpets, MJ logistics, Super Amart and Whites Group.
The most active area has been Gateway South and Logan Motorway corridor where Goodman, Logos, Frasers and Dexus have all had substantial leasing success in the last quarter. These leases reinforce the desire of occupiers to be located in the Logan Motorway precinct or other areas with direct access to Brisbane’s major road network.
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Urgency returns to Brisbane industrial market: Colliers

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John Nockles and Daniel Philip of CVA have just sold an office/warehouse in a tightly held commercial precinct in Melbourne's south-east for $710,000.
The auction attracted a mixture of owner occupiers and investors due to the exceptionally low supply of stock in the Notting Hill precinct.
Located on the north eastern-corner of Redwood Drive and Normanby Road, Notting Hill, the property is situated within close proximity to Monash University Campus, major arterial roads such as Ferntree Gully Road, Blackburn Road and is just 2 kilometres from the Monash Freeway.
After some competitive bidding from six bidders, the property was sold to a local investor, equating to a building rate of $1,972 per square metre.
The property comprises a solid brick office warehouse of 360 square metres constructed circa 1970s.
It is situated on a strata land holding of 2,666 square metres, which comprises two additional buildings, plus common area and car spaces.
The office area of 130 square metres includes partitioned and open plan offices, kitchenette and amenities with shower.
The clear span warehouse of 230 square metres features motorised container height roller shutter door and storage room. Additionally, the property provides an alarm system, three phase power and five on-site car spaces.
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1970s Notting Hill office/warehouse sold at auction

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Another apartment development site in Thistlethwaite Street, Fishermans Bend, has sold, this time for $7,525,000.
The 1237 square metre parcel was not offered with a permit, but instead an architectural concept plan for an eight-level complex with 84 flats, many capitalising on city and Port Phillip Bay views.
Colliers International's marketed 37-47 Thistlethwaite Street, currently a two-storey building with a lettable area of 1749 square metres.
The sale comes after the same agents sold a 1194 square metre block next door, at 15-35 Thistlethwaite Street, for more than $8 million.
The vendor of that site, Circa Property Group, offered the block with a permit for an eight-level, 83-unit complex.
It exchanged to an Asia-based builder.
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jchancellor-FAypfDUnLy

Fishermans Bend development site sold

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Large retailers and transport and logistics occupiers are supporting industrial demand, taking advantage of the competitive pre-commitment market to improve and consolidate their supply chains, according to Dexus Property Group’s latest quarterly report.
Occupier demand varies widely between states with Sydney and Melbourne solid, Brisbane improving and Perth remaining weak.
The manufacture of core stock is a primary focus for many institutions, particularly in Sydney and Melbourne, due to the solid pre-lease demand in these markets and the strong values that can be achieved for fully leased buildings.
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The industrial supply pipeline will be solid in 2016, in line with the 10 year average, however 2017 is likely to be more subdued following a reduction in planned projects in Brisbane and Perth.
Consequently, rents are likely to remain relatively subdued and stable in the short term as the pre- commitment market remains competitive.
Land constrained markets are the best placed for rental growth in the future.
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The key themes for this quarter include:
<ul>
<li>Demand for assets with a long WALE remains strong, however prime investment stock is limited as owners hold income producing properties</li>
<li>The closure of the Ford plants in Geelong and Broadmeadows (VIC) could result in these large industrial sites being released to the market in the coming years after site remediation. Holden and Toyota are expected to close in 2017</li>
<li>The privatisation of Australian ports has continued with The Port of Melbourne sold on a 50 year lease to Lonsdale Consortium (consisting of QIC, Future Fund and Global Infrastructure Partners) for $9.7bn</li>
</ul>
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Industrial property support from large retailers and transport occupiers

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Commercial property transaction volumes rose in the September quarter, however they were well below the same period last year, according to Dexus Property Group's latest quarterly report.
Foreign investors were active, comprising 47 percent of activity.
Total transaction volumes for the September quarter increased to $7.2 billion, partially due to the industrial portfolio sale from Goodman to Blackstone, however volumes were down on the prior year due to a lack of prime assets for sale.
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Major sales included the David Jones Market Street Store for $360 million, with CBus Super and Scentre Group each acquiring a 50% share.
An ARA managed fund purchased the Southgate Complex in Melbourne ($439 million at 6.5% yield and reported IRR of 7.5%).
Charter Hall Prime Retail Fund purchased the sub-regional centre, Campbelltown Mall for $197 million on a yield of 6%.
With limited core CBD assets available for sale, there were a number of office assets purchased in metropolitan or fringe locations e.g. Toorak Road, Hawthorn, New South Head Road, Edgecliff and Coward Street, Mascot.
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Foreign investment activity increased this quarter, comprising the majority of larger acquisitions in the office and industrial sectors.
Domestically, Privates and A-REITS were the most active, with A-REIT activity largely concentrated in the retail sector including SCA acquiring a number of centres.
Investment yields continued to tighten over the past six months with prime assets in the Sydney and Melbourne CBDs trading below 5.5%, while Brisbane and Perth assets trading slightly higher.
Values continue to firm in most sectors and markets.
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