Toorak's dress circle St Georges Road, home to some of the city's priciest homes, is set for a rare new apartment development.

Blood Diamond Group, an entity tied to Tina Brandi, wife of David Brandi who has been a prolific bidder on The Block over the years, has filed plans for an ultra-exclusive development across an amalgamated 3,662 sqm site at <a href="https://www.apartments.com.au/new-apartments/104-106-st-georges-road-toorak-vic-3142">104 and 106 St Georges Road</a>.

The proposal would replace two existing homes on the riverfront site with a five-level apartment building cascading down the steeply sloping land toward the Yarra River. Designed by Charles Wright Architects, the development has been carefully shaped around the site’s topography and river environs, with the upper levels stepping back to reduce visual bulk from both St Georges Road and the Yarra corridor.

Planning documents describe the proposal as “a site layout and building typology that is consistent with the emerging character of the area and which provides exceptional amenity for future residents without compromising that of neighbouring properties.”&nbsp;

<img alt="First look: Blood Diamond Group unveils riverfront apartment plans for Toorak Pavilion" data-entity-type="file" data-entity-uuid="ea19a17e-7528-4fa8-b727-05f2f7c025e5" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Toorak%20pavilion%20a_0.png?VersionId=rZ2IjdoUL_UrRl1sZ4wZHnQXbYUaEmUQ" />

The scheme comprises 12 apartments, including 10 three-bedroom residences, one one-bedroom apartment, and a substantial split-level five-bedroom penthouse. A 624 sqm communal rooftop terrace will crown the building, while three undercroft levels embedded into the hillside will accommodate apartments and basement parking.

The design leverages the site’s dramatic northern outlook across the Yarra River, with living areas and balconies oriented toward the water. A central atrium running the full height of the building is intended to draw natural light deep into the residences and improve internal amenity.

Landscape architecture by <a href="https://www.apartments.com.au/landscape-architect/jack-merlo">Jack Merlo Design &amp; Landscape</a> will play a major role in softening the built form, particularly along the river edge where significant setbacks have been introduced. The proposal includes a minimum 30-metre setback from the Yarra River boundary, preserving a substantial landscaped buffer between the development and the waterway.

While a mature English Oak near the front of the site is proposed for removal, the plans retain a large English Elm closer to the riverfront, alongside other established vegetation in the lower section of the property.

<img alt="First look: Blood Diamond Group unveils riverfront apartment plans for Toorak Pavilion" data-entity-type="file" data-entity-uuid="ed3bf19b-5bc7-482f-bde7-41f709a13c3a" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Toorak%20pavilion%20b.png?VersionId=SG_kBGu4rOaSPY8FtVcmPJfSCrstuOfg" />

Architecturally, the building adopts strong horizontal forms with expansive glazing and curved balcony edges facing the river. Planning documents note the upper levels “adopt a receding form” to ensure the building responds appropriately to the Yarra River environs overlay controls.&nbsp;

The surrounding streetscape is characterised by large contemporary homes embedded into the hillside, many presenting as modest one or two-storey forms to the street before expanding toward the river frontage below. The planning report notes this established pattern heavily influenced the massing strategy for Toorak Pavilion.&nbsp;

Until the recent sale of the landmark Clendon Road mansion Coonac for around $130 million, St Georges Road held the state's most expensive home, the $80,000,088 derelict "Ghost House" mansion that was bought by crypto king Ed Craven.&nbsp;

Blair House, also on St Georges Road, sold for $74.5 million in 2022.

Joel Robinson

First look: Toorak Pavilions slated for dress circle St Georges Road

Six months after a development site on Kangaroo Point’s Shafston Avenue sold for $6.55 million, plans have been lodged for a 23-storey apartment tower.

A company named JMT Mega Capital, understood to be interstate investors when the 1,222 sqm double block traded late last year through Patona Property, is proposing an 84-apartment development in place of the existing low-rise buildings.

The slender tower at <a href="https://www.apartments.com.au/new-apartments/212-220-shafston-avenue-east-brisbane-qld-4169">212–220 Shafston Avenue</a>, overlooking the Brisbane River, has been designed by <a href="https://www.apartments.com.au/architects/aplus-design-group">Aplus Design Group</a>. It will comprise a mix of one-, two- and three-bedroom apartments above six basement levels, topped by rooftop resident amenities.

<img alt="First look: 23-storey Kangaroo Point tower planned for Shafston Avenue riverfront precinct" data-entity-type="file" data-entity-uuid="7e17ba9e-553e-42ef-92b6-22081671521a" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/podium_3.png?VersionId=hlVUf99vrOjUs.vhQs0qV0DhOncUy9T8" />

The development has been designed as a vertically articulated tower with recessed balconies, curved façades and planted edges intended to soften its scale within the evolving Shafston Avenue skyline. In the submitted Urban Design Report, Aplus Design Group said the tower had been “shaped with a slender vertical expression, articulated façades, recessed balcony zones, integrated planting and a clearly defined podium relationship, helping to reduce perceived bulk and create a more elegant contribution to the Shafston Avenue streetscape and broader Kangaroo Point skyline.”

The scheme comprises 84 apartments, including 25 one-bedroom units, 34 two-bedroom apartments and 25 three-bedroom residences. A total of 104 car spaces are proposed across six basement levels, including resident, visitor and accessible parking.

Residents will have access to rooftop communal open space and shared amenities, while the development also incorporates deep planting zones and subtropical landscaping throughout the podium and tower levels. The project includes 35 per cent communal space coverage across the site and a 17.5 per cent deep soil zone allocation to support urban greening outcomes.

The application exceeds the mapped building height under the Kangaroo Point Peninsula Neighbourhood Plan and is being assessed under Brisbane City Council’s impact assessment pathway. The design team argues the additional height is supported by the site’s strategic inner-city location, existing high-density zoning, and proximity to transport and employment hubs.

“The design has been developed to make better use of a well-serviced urban site within an established high-density residential setting, while improving the street presentation and overall quality of the public realm interface,” the report states.

<img alt="First look: 23-storey Kangaroo Point tower planned for Shafston Avenue riverfront precinct" data-entity-type="file" data-entity-uuid="1ab44b1e-ff45-4bf3-8da8-8aa0cd79db33" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/site_10.png?VersionId=tSxeGekZOqj1e9g3PEn_yFoC3taKDp3U" />

The proposal adds to a growing pipeline of apartment developments reshaping Kangaroo Point ahead of the 2032 Brisbane Olympic Games, with demand continuing to strengthen for new housing supply in well-connected inner-city precincts.

Mosaic has nearly sold out its under-construction <a href="https://www.apartments.com.au/new-apartments/the-bedford-by-mosaic-16-30-prospect-street-kangaroo-point-qld-4169">The Bedford by Mosaic</a>&nbsp;and <a href="https://www.apartments.com.au/new-apartments/the-carter-by-mosaic-77-linton-street-kangaroo-point-qld-4169">The Carter</a>,&nbsp;while Pikos recently completed <a href="https://www.apartments.com.au/buildings/skye-residences-by-pikos-kangaroo-point-8-river-terrace-kangaroo-point-qld-4169">Skye Residences</a> nearby. Pikos is also delivering <a href="https://www.apartments.com.au/new-apartments/gaia-kangaroo-point-108-lambert-street-kangaroo-point-qld-4169">Gaia</a>, over 230 three- and four-bedroom apartments on Lambert Street.

First look: 23-storey Kangaroo Point apartment tower planned for Shafston Avenue riverfront precinct

A new 25-storey apartment tower proposed for Mercer Street would push Geelong’s western gateway skyline higher, with Morphy Birrell Property Group lodging plans for a project directly beside one of the city’s most significant heritage streetscapes.

The <a href="https://www.apartments.com.au/architects/fk-australia">FK</a>-designed development at <a href="https://www.apartments.com.au/new-apartments/65-67-mercer-street-geelong-vic-3220">65-67 Mercer Street</a> has now been referred to Victoria’s Planning Minister. The site sits opposite the Geelong rail corridor and immediately south of the heritage-listed St Peter and Paul’s Catholic Church and Ashby Hall precinct.

Rather than compete with the neighbouring ecclesiastical buildings, the proposal adopts a sculpted podium intended to reference the materiality and scale of the heritage context. Planning documents note the design draws cues from the “dark stone brick” church and surrounding masonry buildings, while the tower above transitions into a softer, curved form oriented toward Corio Bay and the Geelong waterfront.

<img alt="First look: Morphy Birrell Property Group targets 25-storey Geelong tower beside landmark church precinct" data-entity-type="file" data-entity-uuid="b797d10c-d4a6-47af-b8df-1aeaa3b382be" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/public%20square.png?VersionId=QGIpcz1x1hKB6lQLl2iobyHqb6PS2Ztc" />

The development forms “Stage 5” of Morphy Birrell Property Group’s broader Mercer Street precinct strategy, following the completion of the 21-storey Miramar tower on Cavendish Street and several additional approved redevelopment stages nearby. Planning consultants Ratio said the proposal “represents an exemplary development outcome” aligned with the strategic ambitions for Central Geelong’s continued urban renewal.

The mixed-use project would replace an existing low-rise commercial building and surface parking area on the 3,320 sqm corner site. FK’s urban context report describes the proposal as a residential development comprising apartments, resident amenities, commercial space, and integrated landscaping positioned to maximise bay views and northern sunlight access.

Renders show a deeply articulated tower with curved balconies stepping above a lower masonry podium that frames a landscaped forecourt facing Mercer Street. The design intentionally preserves sightlines toward the adjacent church buildings, with the podium scaled to reinforce the heritage edge before the tower recedes upward.

<img alt="First look: Morphy Birrell Property Group targets 25-storey Geelong tower beside landmark church precinct" data-entity-type="file" data-entity-uuid="2bdca91e-66f7-4ac7-8baa-2f93bd5b564e" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/geelong%20site.png?VersionId=QOhbino4ZgzKYw5dW3QE14E.2yq.Sv87" />

The planning report highlights the site’s strategic location within 400 metres of key Geelong destinations including Cunningham Pier, the Geelong Station precinct, Deakin University, and the convention centre. Bus services run directly along Mercer Street, while the Corio Bay foreshore sits around 100 metres north of the site.

The proposal arrives amid accelerating redevelopment across central Geelong, where planning policy continues to encourage higher-density housing close to transport infrastructure and the waterfront. Mercer Street in particular has emerged as a focal point for taller apartment development due to its proximity to Geelong Station, the bay, and major civic infrastructure.

Morphy Birrell Property Group targets 25-storey Geelong tower beside landmark church precinct

Development giant&nbsp;<a href="https://www.apartments.com.au/developers/hamton">Hamton</a> and joint venture partner Hostplus have revealed the next residential stage of their $3 billion Moonee Valley Park masterplan, lodging plans for 512 more apartments within the precinct on surplus racecourse land at 110 Wilson Street, Moonee Ponds.

The proposed development, dubbed&nbsp;<a href="https://www.apartments.com.au/new-apartments/trackside-house-110-wilson-street-moonee-ponds-vic-3039">Trackside Gardens</a>&nbsp;in the planning application, follows the <a href="https://www.apartments.com.au/news/vic/first-look-exclusive-hamton-and-hostplus-reveal-sixth-stage-of-moonee-valley-park-masterplan">recent unveiling of the sixth-stage Cox Place Precinct</a> and continues the long-running transformation of the Moonee Valley Racecourse into one of Melbourne’s largest urban renewal projects.

Positioned on the north-eastern edge of the racecourse adjacent to CityLink, Trackside Gardens will comprise three residential buildings rising between 61.8 metres and 86.4 metres within a heavily landscaped precinct shaped by Hamton’s Nature Based Cities framework.

The project forms part of the broader Moonee Valley Park redevelopment being delivered by Hamton, Hostplus and the Moonee Valley Racing Club, which is reshaping the 40-hectare racecourse site into a mixed-use neighbourhood with housing, retail, commercial space, hotels, parkland and community infrastructure.

Trackside Gardens sits separately to the recently proposed Cox Place Precinct, a five-building stage comprising around 1,100 residences, two build-to-rent buildings, two build-to-sell towers, retail, office space, and a hotel overlooking the racetrack. Together, the projects continue to accelerate housing delivery across the precinct.

<img alt="First look: Hamton expands Moonee Valley Park masterplan with 512-home Trackside Gardens precinct" data-entity-type="file" data-entity-uuid="5fc1941e-52d3-41c6-abc4-0f13fe8ae5ea" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/DA%20Edits%20%281%29.png?VersionId=7qwRHq5dcvXWNot2hNOgoQhN2GIWudNK" />

Designed by <a href="https://www.apartments.com.au/architects/dko-architecture">DKO Architecture</a> with landscape architecture by Tract, Trackside Gardens has been conceived as a botanical-style residential precinct prioritising canopy planting, communal green space, and vertical landscaping.

“The architectural vision for the proposed development centres around buildings in a botanical park setting that champions the important role of nature,” the planning submission states.

“The proposal incorporates principles of biophilic design, with landscape and environmentally sustainable development influencing the ultimate design response of the buildings and prioritising the ground plane to ensure a high amenity for both occupants and visitors.”&nbsp;

Trackside Gardens will deliver 512 apartments across the three buildings, alongside 518 basement car spaces and 523 bicycle spaces. Around 20 per cent affordable housing is proposed across the broader North East Precinct, equating to around 158 dwellings.&nbsp;

The affordable housing component will be concentrated within the Wilson East building, while the remaining apartments are expected to be delivered as build-to-sell residences.

Trackside Gardens has been designed around Hamton’s Nature Based Cities initiative, founded by Executive Chair Paul Hameister OAM in partnership with the University of Melbourne, Urbis, Ark Resources and Tract. The initiative promotes integrating higher-density urban development with significant biodiversity, tree canopy and landscape outcomes.

<img alt="First look: Hamton expands Moonee Valley Park masterplan with 512-home Trackside Gardens precinct" data-entity-type="file" data-entity-uuid="89353449-7b3c-42fd-8fd8-8bf64a5ef80f" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Article%20Feature%20Image%20%28Grid%29_4.png?VersionId=X8jRt0P2L7fIWjLhfX6gPknXToXIBeLj" />

A comprehensive landscape strategy would introduce deep soil planting, vertical greening, communal gardens, and new pedestrian links throughout the site.

Planning documents state the development is targeting a 5 Star Green Star Buildings rating, a 7.5-star average NatHERS rating, and “Exemplary” Nature Based Cities certification.&nbsp;

The proposal joins an expanding pipeline of approved and proposed buildings within Moonee Valley Park, including the recently launched Eveline apartments and the approved Grandstand North and South towers.

Hamton has increasingly focused on precinct-scale, nature-led communities across Melbourne’s middle-ring suburbs, with projects spanning Hawthorn, Kew, and Moonee Ponds.

Hampton unveils Trackside Gardens, latest stage of $3 billion Moonee Valley Park masterplan

The Paul Gedoun-led <a href="https://www.apartments.com.au/developers/ss-projects">S&amp;S Group</a> has achieved another milestone in its $1 billion transformation of Rainbow Bay on the southern Gold Coast with the completion of the company’s third project in four years, the $160 million <a href="https://www.apartments.com.au/buildings/esprit-217-227-boundary-street-coolangatta-qld-4225">Esprit</a> residences.

Delivered by <a href="https://www.apartments.com.au/builders/hutchinson-builders">Hutchinson Builders</a> and designed by <a href="https://www.apartments.com.au/architects/cottee-parker-architects">Cottee Parker Architects</a>, Esprit buyers have now moved into the 94 apartments across two interconnected buildings at 217-227 Boundary Street.

The successful settlement of Esprit marks another astounding chapter in the S&amp;S story, which launched its highly successful Flow apartments three years ago and created its own ultra-luxury branded fingerprint on an area craving new luxury residences.

Most early purchasers have secured gains of well over $1 million since the project launched in 2021.&nbsp;

[smartcode_project:default project_id=102921 project_image_fid=172129]

S&amp;S Projects Founding Director Paul Gedoun said the completion of Esprit reflects sustained demand for premium apartments in tightly held coastal locations.&nbsp; 
&nbsp;&nbsp; &nbsp; 
“Esprit has attracted buyers seeking a combination of quality design, considered amenity and a location that is becoming increasingly difficult to replicate,” said Gedoun.

“We identified some years ago that Rainbow Bay is a unique market where supply of luxury residences is limited, and we see the settlements in Esprit further underpinning this thinking - that for both owner-occupiers and investors.”&nbsp;

[smartcode_project:default project_id=102921 project_image_fid=172174]

A key feature of the development is ‘Club Esprit’, a 1,000sqm residents-only rooftop level combining wellness and recreation, believed to be a first for the Gold Coast, and which is fast becoming a signature of the S&amp;S brand.

Positioned to capture views across Snapper Rocks, Rainbow Bay and the Tweed River, the rooftop includes a 25-metre lap pool, gym, yoga lawn, sauna and steam facilities, ice bath, private dining spaces, outdoor cinema and landscaped areas for residents.&nbsp;

<a href="https://www.apartments.com.au/project-marketer/pezet-matheson">Pezet Matheson</a> Director Jayde Pezet, who led the sales campaign for Esprit and S&amp;S’s Flow and Awaken apartments, said the project’s performance reflects both the strength of the product and the depth of demand for premium apartments on the southern Gold Coast.&nbsp;

“In some cases, we’ve seen values double since launch, which is a clear reflection of how tightly held Rainbow Bay has become and the level of demand for well-executed projects in this market,” said Pezet.&nbsp;

“Buyers recognised early what S&amp;S Projects was delivering here, and that conviction has been rewarded as the project has progressed towards completion.”&nbsp;

[smartcode_project:default project_id=102921 project_image_fid=214819]

Esprit offers a mix of two- three and four-bedroom apartments and sits within walking distance of the beachfront, cafés and local amenities, reinforcing its appeal as both a lifestyle and investment destination.

The project is the third completed by S&amp;S Projects in Rainbow Bay, following Flow Residences and Awaken Residences, which together have contributed to the suburb’s emergence as one of the Gold Coast’s most sought-after coastal pockets. &nbsp;

S&amp;S Projects is continuing its investment in the area with Radia, a $215 million development currently under construction.&nbsp;

[smartcode_project:default project_id=102921 project_image_fid=172175]

Gedoun said the completion of Esprit signals continued confidence in the southern Gold Coast market.&nbsp;

“We’ve seen strong interest in well-located, high-quality apartments, particularly in areas where future development opportunities are limited."

“That’s been a key factor in the performance of Esprit and the broader Rainbow Bay market”.

[smartcode_project_cta:default project_id=102921]

Owners move in as Esprit completes at Rainbow Bay

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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Heritage devotees are fighting to protect one of Melbourne’s best, but least known, heritage listed modernist gems, the 1970 offices of Yuncken Freeman.
Elegantly detailed with expressed steel columns, inspired by German/US modernist master Ludwig Mies van der Rohe, the unassuming building is deemed as one of Melbourne’s purest modernist masterpieces.
Melbourne Heritage Action believes steps must be taken to better ensure a design more sensitive to the heritage listed building, with greater setbacks and a stronger separation between old and new.
They have lodged an objection to plans for 407 King Street set opposite the Flagstaff Gardens following a proposal to have a tower poking out the top.
"There is no doubt that this building is one of the lesser known but most important landmarks of modernism in Melbourne, not just the City of Melbourne," <a href="https://melbourneheritage.org.au/" target="_blank">Melbourne Heritage Action advised</a>.
It was designed by the prolific firm of Yuncken Freeman, who were the leaders in the provision of corporate modernism in Victoria in the 1960s and 70s.
"They produced a number of office buildings in variations of the latest in minimalist style, inspired by the leading modernist in the United States Mies van de Rohe and the interpretations of his ouvre by Skidmore Owings &amp; Merrill.
"It was the first of their designs to be clearly following the Mies / SOM lead, designed as their own offices."
<div id="attachment_2281" class="wp-caption alignnone" data-shortcode="caption">
<img class="alignnone size-full wp-image-2281" src="https://melbourneheritageaction.files.wordpress.com/2016/08/13963080_1142400125806547_1959695706979343493_o.jpg?w=547" alt="13963080_1142400125806547_1959695706979343493_o">407 King Street as captured by Peter Wille after its construction, courtesy of State Library 
</div>
<div id="attachment_2279" class="wp-caption alignnone" data-shortcode="caption">
<img class="alignnone wp-image-2279" src="https://melbourneheritageaction.files.wordpress.com/2016/08/13903161_1142399949139898_6043813060399781856_n.jpg?w=679&amp;h=588" alt="13903161_1142399949139898_6043813060399781856_n" width="679" height="588">Heritage Melbourne Action sugest the proposal was far too dominant over the heritage listed office building it will use a podium.
</div>
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jchancellor-FAypfDUnLy

Mies van der Rohe-inspired 1970 office block heritage battle in Melbourne

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The Edgecliff office block - tenanted in part by Prime Minister Malcolm Turnbull as his electorate office - has been sold.
It fetched $15.67 million having been bought from Telstra for $3.865 million in 2001. 
The 287-289 New South Head Road building was formerly the Edgecliff Post Office, a landmark building at the busy corner.
It was offered by the Scarf family as a rare opportunity to own a freestanding, mixed use property.
It is a freestanding, four storey, mixed use property, offered fully leased with a NLA 1,405 sqm.
Its net income was $955,144.74 pa.
There was secure car parking for 15 cars plus a large outdoor deck area with harbour views.
The initial marketing by Ray White Double Bay suggested there was future potential for residential conversion.
It was bought by the Spyrides family from Vaucluse. 
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Malcolm Turnbull gets new office landlord in Edgecliff

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NSW Central Coast sits at the peak of market position on property valuation firm Herron Todd White’s retail clock for August 2016, which also discusses the year-to-date’s top transactions as retail property continues to be popular with investors because of the attractive yields.
The property clock is a simple broad brush means to indicate where property markets are headed.
Roll back to May, when the previous retail clock was ticking, and one notices that Horsham and South East NSW were also at the top along with NSW Central Coast. South East NSW has gone back two ticks to a rising market since, while Horsham has dropped out completely!
<a href="/images/2016/08/23/HTWmayretail.jpg" target="_blank">Click to enlarge</a>
<img src="/images/2016/08/23/HTWmayretail.jpg" alt="">
Approaching the peak of market in August are the cities of Melbourne, Brisbane, Gold Coast and Newcastle. Melbourne is the new entrant here, while Sydney remains at the rising market position.
The bottom of the market includes Hobart, Launceston, Lismore, Townsville and Wide Bay Area. Lismore is the new entrant here.
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prateek24-ezbwHMbNAk

NSW Central Coast, the lone wolf at the retail market peak: HTW property clock August 2016

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Three family-held adjacent commercial terraces in Sydney’s east are on the market, an illustration of the emergence of the area as one of the most tightly held regions for commercial property, according to CBRE.
The terraces at 247, 249 &amp; 251 Bronte Road, Waverley span around 500 sqm and the site has been held by the same family since the 1950’s, previously housing the retail and manufacturing arm of the family’s children’s wear clothing manufacturing business “Ista Fashions”.
Tony Braham of CBRE’s Sydney Capital Markets has been appointed to sell the property.
“With a historically low level of listings currently on market, this retail/commercial offering in the trendy but tightly held Charing Cross/Queens Park shopping strip represents a major generational change in property ownership in Sydney - with many families now considering the sale of their long-term property holdings,” said Braham. 
Falling interest rates, record low yields andlimited stock has contributing to increased buyer competition and rising property values and many property investors hope to cash in on the situation. 
“A number of property investors with generational holdings in Sydney’s east are deeming the current real estate environment as the ideal time to realise their property assets.” 
Braham said buyer interest was expected to be strong for the site.
 
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jonathanchancellor-7SQnKwU6yx

Three privately owned terraces in Sydney’s east on the market

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An office space with the NSW government as anchor tenant in the Blue Mountains is up for sale through Raine &amp; Horne for $3.75 million plus GST.
The property at <a href="https://www.rhcommercial.com.au/properties/435-437-great-western-highway-springwood-2777-new-south-wales" target="_blank">435-437 Great Western Highway, Springwood, NSW 2777</a> earns a net income of $273,181, with the lessee paying all outgoings.
The building has a floor area of 1198 sqm and includes modern fitouts with lift. It comes with depreciation allowances. The zoning is B1.
<img src="/images/2016/08/12/raine2.jpg" alt="">
Positioned in a World Heritage location, it has good exposure to both directions of the Great Western Highway.
The listing agent is Keiran McGarity.
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Blue Mountains office leased to government up for sale via Raine & Horne

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Three childcare centres in Victoria, all leased to ASX-listed G8 Education, are to go under the hammer separately at a Burgess Rawson portfolio auction on September 14 in Melbourne.
The centres are in <a href="https://www.burgessrawson.com.au/buying/VIC/South-East/Cranbourne/MedicalorConsulting/3P1381#.V7pccGXwxPM" target="_blank">Cranbourne</a> (rent $89,187 per annum), <a href="https://www.burgessrawson.com.au/buying/VIC/Geelong-and-District/Ocean-Grove/MedicalorConsulting/3P1380#.V7pgSmXwxPM" target="_blank">Ocean Grove</a> (rent $134,596 pa) and <a href="https://www.burgessrawson.com.au/buying/VIC/West/Tarneit/MedicalorConsulting/3P1379#.V7pgqmXwyb8" target="_blank">Tarneit</a> ( rent $183,633). 
The current secure 10-year lease runs to 2024 with further options till 2054. The tenant pays all outgoings including land tax.
G8 Education Ltd is an early education provider with more than 450 centres across Australia.
There are annual rent reviews plus market reviews every five years.
The selling agents are Adam Thomas and Natalie Couper.
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Three childcare centres in Victoria to go under the hammer at Burgess Rawson auction

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Giftware firm Ezy Group Trading has agreed terms on a new office/warehouse lease at Cheltenham in Melbourne’s south-east in a deal brokered by Savills Australia.
The 355 Warrigal Road property comprises 1,765 square metres of building which includes a warehouse, office space and a showroom.
The property has main road exposure and access to the Nepean Highway.
Savills director Gareth Jackson, who brokered the deal, said the tenant will pay $120,000 per annum on a five-year lease with options
"The property was also well suited to Ezy Group’s accommodation requirements providing efficient design, showroom space, room for growth and on-site parking,’’ Jackson said.
The lessor was a private investor.
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Giftware firm takes $120,000 lease through Savills in Melbourne's Cheltenham

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GUEST OBSERVER
The CBD office markets of Australia are in the midst of an unusual dynamic.
Sydney and Melbourne are in full rental growth and vacancy decline mode, while the other CBDs have low or negative rental growth, and vacancy rates in the double digits.
This is the first time since records began that the office markets have diverged to such an extent, and is reflective of the wider demographic and trends being felt in each state. That is, strong migration growth and employment growth in Sydney and Melbourne, and slowing population growth in the other states. 
Sydney 
The Sydney CBD office market is transitioning and opportunistic landlords have aggressively increased rents and reduced incentives as available office space diminishes. Almost 150,000 sqm of space will be withdrawn from the market by the end of 2017, as a result of the Sydney Metro project, as well as residential conversions. Over the short term tenant demand will outweigh net supply, maintaining downward pressure on vacancy rates until 2019. 
<img src="/images/2016/08/22/Colliersofficemarket.jpg" alt="">
Adelaide 
Despite the weakness in the Adelaide leasing market, there are signs that there is a pick-up in demand over the next 12 months. Enquiry has begun to improve and we are heading into a period of several large lease expiries which may be the catalyst for tenants to move. Access Economics are also forecasting an improvement in white collar employment during the first half of 2017. Most of which is likely to be through growth in small to medium enterprise. 
Perth 
The rise in vacancy in the Perth CBD – from 16.6 per cent in June 2015 to 21.8 per cent in June 2016 – combined with soft demand, continued to put pressure on landlords to reduce rents and offer higher incentives. Despite these efforts by landlords, net absorption remains subdued. This is a reflection of depressed business confidence and white collar labour market conditions. However, greater affordability has underpinned growth in demand from CBD and suburban tenants aspiring to migrate to a CBD address. This is expected to have a positive impact on net absorption going forward. 
Canberra 
Investor appetite in the Canberra CBD has improved, with a greater mix of investors generated by a high proportion of new entrants to the market. Recent lease deals indicate a slight shift of bargaining power toward landlords as tenant choice has decreased in some areas and sub markets. An increase in leasing activity and net absorption has placed downward pressure on vacancy and we expect vacancy levels to fall from 13.0 per cent currently to 11.0 per cent by July 2017. 
Melbourne 
Unusually for Melbourne, there were no new developments completed in the rst half of 2016, which resulted in the vacancy rate tightening by 80 basis points to 7.0 per cent during this period. Tenants looking for quality assets will have limited options over the next three years, given that the new wave of CBD core supply is only expected to come through in 2019/2020. Nearly all new supply being completed over the 2nd half of 2016 is spoken for by pre-committed tenants. 
Brisbane 
It is expected that Brisbane will continue to be a tenant’s market for the foreseeable future given the volume of vacant and sublease space available. The State Government has been increasingly active taking advantage of the favourable leasing conditions. Leasing enquiry has remained soft in the CBD market however, despite the soft leasing conditions, institutional investors have been active over the last 12 months, fiercely competing for prime stock when it has been brought to market. 
This article by Anneke Thompson appeared as part of Colliers International's CBD Office Research &amp; Forecast Report H2 2016. She is the national director of Research and can be contacted <a href="https://www.colliers.com.au" target="_blank">here</a>.
 
 
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Divergence in Australia’s CBD office markets unprecedented: Colliers

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A slickly designed office space in Melbourne’s Collingwood was recently leased, though the rent was not revealed.
The 73A Rupert Street, Collingwood, VIC 3066 suite is in a new building designed by well-known architects 'Miceli Odlfield Sinton’. 
The suite has a space of 52 sqm and comes with a private kitchenette. Other building features include showers, bike racks, security etc.
With no expense spared on fittings and fixtures, inspections will not disappoint. With 'Allpress Espresso' across the road and 'Rupert On Rupert' next door the positioning is absolutely perfect.
The leasing agents are James Doherty and Tim Bindley of Vision Real Estate. 
According to the suburb profile on Commercial Property Guide, the median rent for office spaces in Collingwood is $257 psm per annum.
The location is close to cafes and retail.
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Designer office spaces in Melbourne's Collingwood set bar high 

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A retail shop anchored by Home Timber &amp; Hardware at Peregian Beach on the Sunshine Coast has sold to a local investor for $1.6 million on a six percent yield.
The 211 David Low freehold property has a building area of 973 sqm on a 1880 sqm site.
Peregian Beach is a seaside residential and tourist area of the Sunshine Coast 130 km north of Brisbane and close to Noosa Heads.
The property was sold on behalf of a local business operator by selling agents Christine Freney of Ray White Commercial Noosa &amp; Sunshine Coast.
Freney said the vendors have operated the Home Timber &amp; Hardware store for more than 25 years.
“They will continue to run the hardware business after selling the freehold,” she said.
“The site is now secured by a 5 + 5 + 5 year lease.”
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