<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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The Inland Oasis Motel in Queensland’s Mt Isa is back on the market with price expectations of $1.1 million after failing to sell at auction earlier.
The 55-room motel at 195 Barkly Highway sits on a 7,388 sqm site, and is the first accommodation on the northern entry from the airport into Mt Isa.
All the rooms are ensuite and there is a bar and swimming pool as well. There is also a four-bedroom manager’s residence. 
Neil Scanlan of Colliers International is the listing agent.
The property went to auction in June after not finding a buyer, it was under contract by a local purchase. It failed to settle and has been put back on the market, according to Scanlan.
According to the description, the property is likely to attract an owner operator or investor seeking to capitalise on a repositioning, redevelopment or alternate use of the property.
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prateek24-ezbwHMbNAk

Mt Isa’s Inland Oasis Motel passed at auction, back on the market

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Australian architecture firm Crone and Kengo Kuma &amp; Associates (KKAA) have jointly won an international design competition for a five-star Wanda Vista Hotel in Sydney’s Circular Quay. 
The 110 metre, 25-storey hotel is part of Dalian Wanda’s $1 billion makeover of Gold Fields House at 1 Alfred Street. Construction of the hotel will commence in 2017 with completion expected in 2020. 
The architecture firms’ winning design features an elegant tower that slowly pixelates, breaking down the scale of the building and making it more human-scale at the lower levels, according to the media release. 
The competition brief called for a design that best demonstrated the ability to deliver a world-class hotel and achieve design excellence in accordance with the City of Sydney Competitive Design Policy.
Alongside the hotel will be a 57-storey luxury residential tower designed by Kerry Hill Architects.
The hotel’s design also complements the adjacent residential tower, using harmonious use of sandstone, cascading green walls and large windows framing views towards the harbour, the release said.  
CRONE design director Sandra Furtado, who led the design team in Sydney, said, “We are extremely proud to be involved with Wanda’s ambitious reimagining of this prominent site in Sydney, working alongside our colleagues in Japan. 
“Located on the ‘dress circle’ of Circular Quay, our design aspirations for the Wanda Vista hotel required the crafting of a building with a distinct identity, while being mindful of site constraints, the client’s ambition, as well as the City of Sydney’s plans for the surrounding Alfred-Pitt-Dalley-George (APDG) precinct.”
The Japan-based half of the design team was led by Kengo Kuma.
The 5 Star features include a lobby which extends visually onto Herald Square, a 300-person grand ballroom with views of Sydney Harbour, two levels of restaurants as well as a rooftop bar.  
John Wei, MD of Wanda One Sydney said, “Together, CRONE and KKAA have fulfilled the brief to create a world-class hotel that together with our residential, retail and public realm elements will create a destination address and enhance this important city precinct. CRONE and KKAA will be appointed as the Lead Design Architect until completion of the Wanda Hotel.”
Chinese developer Dalian Wanda Group’s assets at the end of 2015 were at 634 billion yuan with revenue of 290.16 billion yuan.
Apart from the views, the Wanda Vista hotel will have easy access to the Sydney Opera House and Harbour Bridge. 
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jonathanchancellor-7SQnKwU6yx

Australian design firm Crone wins design competition for five-star hotel in Sydney’s Circular Quay

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Kingston Estate Wines has purchased Lake Marmal Vineyards in central Victoria for $3.575 million.
The winery features a 298 hectare landholding planted to 172 hectares of Shiraz and Cabernet Sauvignon.
Kingston Estate Wines, owned by the Moularadellis family, has purchased the vineyard and has a Grape Supply Agreement in place up to and including the 2018 vintage.
CBRE’s Phil Schell negotiated the sale on behalf of Lake Marmal Vineyards Pty Ltd and said Lake Marmal is a highly productive vineyard that was established in 1998 with the objective of supplying a substantial quantity of fruit to Treasury Wine Estates.
“The site was originally selected for its favourable climate, soil profile, ability to be managed efficiently, expansion capabilities and its strategic location with regard to numerous processing facilities,” he said.
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Lake Marmal Vineyard sold to Kingston Estate Wines

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GUEST OBSERVER
The multi-unit apartment and townhouse construction industry has reached record highs over the past five years. However, volatile conditions have led to mixed results for many construction firms.
Construction features prominently in IBISWorld’s Top 500 Private Companies list for 2016.
The list features 57 construction companies, including three companies in the top 20: BGC, Meriton Apartments and Hutchinson Builders.
Year-on-year revenue growth for the 57 listed construction companies varied widely, from growth of 327.5 percent to a decline of 49.1 percent, reflecting a tumultuous year in construction.
The top five private construction companies for growth in this year’s list include Central Equity, Lipman, Mainbrace Constructions, Pellicano Builders and Burbank Australia, which have displayed revenue growth of between 327.5 percent and 51.8 percent over the past year. 
While construction companies generally performed well in this year’s Top 500 Private Companies list, four appeared in the top 10 private companies with the biggest revenue declines, including Murphy Pipe and Civil Group, S J Higgins Group, Vaughan Constructions and Grocon Group.
Multi-unit residential construction
The multi-unit apartment and townhouse construction industry has grown strongly over the past five years, boosted by foreign investment and Australians becoming increasingly comfortable with inner-city living.
Underlying demand for new housing is underpinned by Australia’s migrant intake, population growth, foreign investment in the property market, historically low mortgage interest rates, and an increasing desire to live in inner-city multi-unit apartments and townhouses.
IBISWorld expects the multi-unit apartment and townhouse construction industry to post annualised growth of 3.8 percent over the five years through 2016-17, to reach $17.4 billion. Revenue is projected to strengthen further over the five years through 2021-22, increasing at an annualised 5.0 percent to reach $22.1 billion.
Sharp correction
Despite the industry’s bright outlook, revenue is expected to slump by 17.3 percent over the current year as investors hold off on new developments to allow recently added stock to be absorbed.
Recent additions of new apartment stock have exceeded immediate housing requirements, and vacancy rates have climbed in several major markets, particularly in Melbourne and Brisbane. The decline in activity also reflects the anticipated completion of several major projects during 2016-17.
Industry revenue is expected to decline sharply over the current year, before stabilising in 2018-19. Industry revenue is forecast to recover strongly following these corrections, reaching new record highs over the next five years as demand for new housing and rental accommodation underpins a return to accelerated growth.
Around the nation
Apartments have captured an increasing share of total residential building commencements over the past five years, particularly for inner-city multistorey apartment complexes. These projects are expected to make up 39.7 percent, or $6.9 billion, of the industry’s total revenue of $17.4 billion in 2016-17.
Over the past five years, much of the industry’s focus has been on well-publicised multistorey apartment towers in capital cities.
South Australia, Tasmania and the Australian Capital Territory have experienced declines in the value of multi-unit and townhouse residential property construction activity over the past five years. Other states, particularly New South Wales and Queensland, have seen strong growth from the same market.
Foreign investment
Multi-unit residential commencements are forecast to surge from 2019-20 onwards as more projects are brought to the start-up phase. Foreign investment in apartment developments, particularly from investors in China, Singapore and Hong Kong, is likely to support this growth. 
The Australian market is expected to remain attractive for foreign investors, especially as the value of the Australian dollar is anticipated to remain low.
Anthony Kelly is senior industry analyst, IBISWorld and can be contacted <a href="https://www.ibisworld.com.au" target="_blank">here</a>.
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Surging apartment construction driving growth across multiple states: Anthony Kelly

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A report released by CBRE tracking investment into and out of the Pacific region found increased inbound capital targeting the industrial, hotel and residential site sectors over recent years.
The report, titled The review of capital  flows in and out of global commercial real estate markets - Pacific Edition H1 2016, found net capital inflow into Pacific real estate in H116 was $720 million and a long-term trend of offices property being the preferred sector for inbound capital investment and retail the preferred sector for (Pacific) outbound capital. 
<a href="/images/2016/09/26/Screen%20Shot%202016-09-26%20at%202.51.59%20PM.png" target="_blank">Click to enlarge</a>
<img src="/images/2016/09/26/Screen%20Shot%202016-09-26%20at%202.51.59%20PM.png" alt="">
Stephen McNabb, head of research CBRE Australia,  said the big shift in net position reflected a decline in capital outflow from domestic investors which in H115 reached $4.4b but fell away to $1.4b in H116.
"It aligns with the trend for investors to be more inclined to ‘stay at home’ in times of heightened risk, preferring markets they know best," he said.
"Net capital inflow into Pacific real estate in H116 was $720 million, comparing favourably to the $2,170 million net capital outflow recorded in the previous corresponding period (PCP, H115).
"The big shift in net position reflected a decline in capital outflow from domestic investors which in H115 reached $4.4b but fell away to $1.4b in H116. The net position of the offshore investor sector was largely unchanged at $2.2b.
<a href="/images/2016/09/26/Screen%20Shot%202016-09-26%20at%202.54.28%20PM.png" target="_blank">Click to enlarge</a>
<img src="/images/2016/09/26/Screen%20Shot%202016-09-26%20at%202.54.28%20PM.png" alt="">
"Cross-regional investment activity was lower in volume. H116 saw $8.7 billion of capital flows to and from the Pacific region, 30 percent down on the $12.4 billion recorded in the PCP. This trend is consistent with the global theme of lower cross-border commercial real estate investment activity in 2016.
"Investors are more inclined to ‘stay at home’ in times of heightened risk, preferring markets they know best. Several events through the first half are likely to have impacted confidence: greater stock market volatility from September 2015 to February 2016, persistent concerns over the Chinese economy (albeit receding recently), the US election and Brexit."
"Historical capital flows in and out of the Pacific region (Chart 1) reveal a long-term trend of office as the preferred sector for inbound capital and retail the preferred sector for (Pacific) outbound capital. This trend held true in nine of the past ten years.
"We postulate that outbound capital prefers retail because of the limited opportunities to acquire institutional grade shopping centres in Australia and New Zealand, due to them being fewer in number (compared to office buildings) and also tightly held. Continents such as North America and Europe have much larger populations so naturally have more retail space.
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<div><a href="/images/2016/09/26/Screen%20Shot%202016-09-26%20at%202.50.26%20PM.png" target="_blank" style="font-family: Tahoma, Helvetica, Arial, sans-serif; font-size: 12px;">Click to enlarge</a></div>
<img src="/images/2016/09/26/Screen%20Shot%202016-09-26%20at%202.50.26%20PM.png" alt="">
"Inbound capital prefers office assets because they are typically less management intensive and better suited to passive investors. Additionally, yields on Australian offices since the GFC have held onto a sizeable (but diminishing) spread over office markets such as New York, London and Hong Kong.
"Superannuation funds since 2013 have been the main source of outbound capital by Pacific investors, accounting for 30% of outflows (Chart 2). REITs were prominent in 2014-15 but have been more subdued in 2016. 
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Increased industrial, hotel and residential inbound capital: CBRE

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A quick overview of the latest trends in key Australian economic data.
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<img src="/images/2016/09/26/Screen%20Shot%202016-09-26%20at%202.22.43%20PM.png" alt="">
 
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<img src="/images/2016/09/26/Screen%20Shot%202016-09-26%20at%202.26.47%20PM.png" alt="" width="680" height="297">
Andrew Hanlan is senior economist for Westpac and can be contacted <a href="https://www.propertyobserver.com.au/https://au.linkedin.com/pub/andrew-hanlan/3/222/430" target="_blank">here</a>. 
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Australian data summary table 26 September: Westpac's Andrew Hanlan

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The latest research from South Sydney Cityscope shows property sales for the quarter to September 2016 have increased in terms of total value, according to CoreLogic's latest report.
Sales recorded in the most recent quarter totalled $512.7 million from 58 sales, as compared to the $276.7 million from 39 sales in the quarter to June 2016 and the $286.9 million from 51 sales recorded in the quarter to March 2016.
This quarter brings the twelve-month total value of sales to $1.447 billion from 214 sales, an increase from the $1.111 billion from 400 sales recorded for the previous year.
The table below shows sales recorded for the past eight updates of South Sydney Cityscope.
<a href="/images/2016/09/23/South%20Sydney%20Score%20Card.jpg" target="_blank">Click to enlarge</a>
<img src="/images/2016/09/23/South%20Sydney%20Score%20Card.jpg" alt="">
Notable sales in the September 2016 update of South Sydney Cityscope include:
<ul>
<li>Metrolink Corporate Park, comprising Tower A at 201 Coward Street, Mascot and Tower B at 197A Coward Street, Mascot, two seven-storey office and retail buildings providing net lettable areas of 12,700 sqm and 10,253 sqm respectively; together with 299 car spaces and 245 car spaces respectively in the 12-level car park building at 197 Coward Street, Mascot, which sold for $143.4 million; 
</li>
<li>17 O’Riordan Street, Alexandria, a four-storey office building with warehouse and laboratory facilities above basement parking for 97 cars with a net lettable area of 11,907 sqm, which sold for $112.9 million; and 
</li>
<li>Euston Business Park at 215 Euston Road, Alexandria, a four-storey office building with a large high-clearance warehouse to the rear and basement parking, providing 7,577 sqm office spaces and 6,873 sqm warehouse spaces, which sold for $92.5 million.</li>
</ul>
<a href="/images/2016/09/23/South%20Sydney%20Quarterly%20Sale.jpg" target="_blank">Click to enlarge</a>
<img src="/images/2016/09/23/South%20Sydney%20Quarterly%20Sale.jpg" alt="">
Properties listed as for sale in the September 2016 update of South Sydney Cityscope include:
<ul>
<li>Alexandria Creative Park at 41-43 Bourke Road, Alexandria, also known as The Mill, a 20,176 sqm business precinct comprising 10 commercial buildings, an onsite cafe and a three-storey car parking building on a site of 18,930, is available through CBRE; 
</li>
<li>A high-clearance workshop with mezzanine office building on a 949 sqm site at 50-54 McCauley Street, Alexandria, which is scheduled for auction on 13 October 2016 through Colliers International Sydney South; and 
</li>
<li>Unit 9 at 8-10 Burrows Road, St Peters, a 244 sqm two-storey industrial unit with two car parking spaces, which is scheduled for auction on 20 September 2016 through Raine &amp; Horne.</li>
</ul>
Leasing opportunities in the September 2016 update of South Sydney Cityscope include:
<ul>
<li>Office space ranging from 400 sqm to 5,000 sqm in the development at 289 King Street, Mascot, for pre-lease through Knight Frank. The proposed building will comprise a 13-storey building with a 246-bedroom hotel, six office floors, retail space and a 5-storey car park; 
</li>
<li>60 O’Riordan Street, Alexandria, comprising a two-storey office building and two high-clearance warehouse buildings with 100 car parking space on a site of 7,666 sqm, which has 4,589 warehouse space for lease through Link Property Services; and 
</li>
<li>The Solvay Interox Banksmeadow site at 18-22 McPherson Street, Banksmeadow, a chemical and solvents plant, including distillation towers, a high-clearance metal fabricated factory building, a two-storey brick office building and several small brick offices on a site of 43,680 sqm, which has warehouse space of 3,168 sqm available through JLL Mascot.</li>
</ul>
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Quarterly South Sydney commercial sales figures up: CoreLogic

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Based on preliminary results over the week ending 16 September, 80.8 percent of commercial auction results cleared, according to CoreLogic's latest market report.
A total of 26 results have been reported so far, down from 46 last week when half of all reported auctions were sold. One year ago, 107 commercial auction results were reported and 56.1 per cent were sold.
A total of 188 commercial auction results have been reported over the four weeks ending 16 September, with 112 sales. Of these 112 sales, 79 were reported with a sale price, totalling just over $162.3 million.
<a href="/images/2016/09/23/Auction%20Clearance%20Graph.jpg" target="_blank">Click to enlarge</a>
<img src="/images/2016/09/23/Auction%20Clearance%20Graph.jpg" alt="">
The table below indicates National Auction Clearance Rate figures.
<a href="/images/2016/09/23/Auction%20Clearance%20Table.jpg" target="_blank">Click to enlarge</a>
<img src="/images/2016/09/23/Auction%20Clearance%20Table.jpg" alt="">
 
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Commercial auction clearance rates above 80 percent: CoreLogic

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Historic Hordern House at Potts Point has been listed for sale with $6.5 million hopes.
The 1880s Victoria Street terrace house was bought by the rare book dealers Anne McCormick and Derek McDonnell for $438,000 in 1985. 
Anne McCormick has been involved in rare books, manuscripts, paintings and prints since the 1970’s first in business in Paddington. They are moving to new premises.
The freestanding terrace has a 19 wide frontage, spanning three levels over 561 square metres.
The Richardson &amp; Wrench listing agent Geoff Cox said in the marketing it was ready for adaptation to a "large, stunning and private residence with at least 4 bedrooms."
This article was first published in the Sunday Telegraph.
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Historic Hordern House, Potts Point listed by rare book sellers

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A securely leased retail investment in Melbourne's popular inner-eastern suburb Prahran is expected to sell for in excess of $2.5 million.
Available through Teska Carson, the <a href="https://www.realcommercial.com.au/property-retail-vic-prahran-502086482" target="_blank">254 Chapel Street and 4 King Street</a> property comprises two retail tenancies totalling 257 sqm.
It forms part of the Vicino Apartments building, a double storey mixed used development with ground floor retail and apartments on the upper levels.
The properties are currently used by Sister of Society, who operate a bar/function space at the Chapel Street site and uses King Street for storage and office use.
The Sisters have a five year lease with two, five year options at current rental of $150,000 per annum with four percent annual increases.
Marketing agents George Taki and Fergus Evans suggest the property presents an exceptional opportunity for investors to acquire a securely leased asset situated on one of Melbourne’s premier retail strips.
"Rarely do properties of this calibre with such a strong lease covenant become available in what is a very tightly held and very popular retail strip," George said.
The property will be auctioned October 14 on site.
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