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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A $20 million road link expected to improve access and attract businesses to Brisbane's new Western Business District - the Metroplex Westgate development in Wacol, has been officially declared open at an event attended by Brisbane Lord Mayor Graham Quirk.
The new road and bridge across Bullockhead Creek have converted Wacol’s Boundary Road into a continuous thoroughfare, opening a new route to the Ipswich and Centenary motorways. It has been built to accommodate up to 18,000 vehicles per day, which will improve local traffic flow.
The road works were funded by GPT Metroplex Joint Venture and supported by the Brisbane City Council through infrastructure rebates and include an upgraded overpass directly connecting Progress Road to the Ipswich Motorway.
Managing director of GPT Metroplex Peter Macgregor and GPT Group’s head of Capital Transactions Jonathon Johnstone were the first to cross the new Bullockhead Creek Bridge on bicycles, with Mayor Quirk at the helm of a fleet of Volvo trucks.
"Construction of Boundary Road and Bullockhead Creek Bridge provide the missing link and connectivity to the Ipswich Motorway - the key elements that underwrite the success of Metroplex Westgate," Macgregor said.
The $350 million Metroplex Westgate will comprise 300,000 sqm of industrial, commercial and retail floorspace, along with 17 hectares of green space and nature corridors. It is being marketed by Cushman &amp; Wakefield and Jones Lang LaSalle (JLL).
Volvo recently said it will open its new Australian headquarters and dealership at Metroplex Westgate in 2017. Several other brands, including building products manufacturer Ardex Australia, returnable packaging solutions provider Loscam and fuel retailer Puma Energy will also take up space at the industrial site.
"We wanted to cement Wacol as South East Queensland's industrial capital and activate Metroplex Westgate as Brisbane's new Western Business District and key centre for manufacturing and logistics," GPT’s Johnstone said.
"To achieve this it was crucial to upgrade the road network to provide businesses with fast access to motorways, South East Queensland's CBDs, airports, rail lines and ports."
Lord Mayor Graham Quirk said the $20 million road access would be a vital link for the Wacol site, which would be a future economic driver for the region and attract new technological and industrial investment to the city.
The first stage - Metroplex South - is now selling with a limited number of smaller lots remaining, ranging from about 3,000 sqm to 1.7 hectares.
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jonathanchancellor-7SQnKwU6yx

Brisbane's new industrial park Metroplex Westgate gets $20 million road upgrade

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A freehold property leased to Asian diner Wah Kee in Melbourne's Clayton has sold at auction for $2.02 million on a tight yield of 3.3 percent.
The property at 338a Clayton Road comprises a 200 sqm building with frontage on a 250 sqm area.
It is leased until the end of 2016 to Wah Kee restaurant with no further options, and returns $68,280 per annum plus GST and outgoings.
Fitzroys agent Mark Talbot handled the selling campaign, along with Joe Guberek of Park Lane Real Estate.
The sale follows that of 385 Clayton Road last month also conducted by Fitzroys which sold for $2.225 million, reflecting a yield of 2.95 percent.
“Clayton Road is a thriving retail strip offering a wide range of retail services and a diverse array of food and beverage offerings supported by the varied demographics of the surrounding catchment area,” Talbot said.
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prateek24-ezbwHMbNAk

Shop leased to Asian diner in Melbourne's Clayton sells for $2 million on a tight yield 

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A showroom complex in Hobart CBD area recently found a customer after being on the market for 792 days (CoreLogic RP Data). The deal was brokered by Raine &amp; Horne.
The corner property at <a href="https://www.rhcommercial.com.au/properties/126-126c-bathurst-street-hobart-7000-tasmania" target="_blank">126-126C Bathurst Street</a> was listed for $1,300,000 plus GST, but the final sale amount wasn’t disclosed, according to RP Data.
The property has a gross building area of nearly 659 sqm and features showrooms on the ground and first floors along with storage, office, workshop and garage areas.
Offered with vacant possession, the property has potential for multiple tenancies or further development subject to Council approval.
The selling agent was Leslie Simpson.
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Corner showroom in Hobart CBD sold by Raine & Horne

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With the national housing market having experienced more than four years of ongoing value rises, affordability in certain areas is deteriorating and sales that were once considered to be at the top end of the market are now becoming more common. 
With housing becoming more expensive, there has been a substantial rise in the number of homes selling for, or in excess of, $2 million.
When the current growth phase commenced in June 2012, there had been 4,103 dwelling sales of at least $2 million with these sales spread across 884 suburbs (if they have achieved this for houses and units they have been counted twice).  Over the 12 months to March 2016, there had been 11,648 house and unit sales at a price of at least $2 million with these sales recorded across 1,437 suburbs.
<a href="/images/2016/07/26/Chart-1-1-580x198.jpg" target="_blank">Click to enlarge</a>
<img src="/images/2016/07/26/Chart-1-1-580x198.jpg" alt="">
Looking at the number of sales of at least $2 million, the 11,668 sales were comprised of 10,184 houses and 1,464 units.  Note that the recent dip in sales is likely to be due to the preliminary nature of recent sales data.  Before the financial crisis, the number of sales at or above $2 million peaked at 6,146 sales over the 12 months to February 2008.  They then fell to a low of 3,321 sales in June 2009.  It took until November 2013 for the number of sales of at least $2 million to eclipse their pre-financial crisis level indicating that the premium housing segment was hit particularly hard during the downturn.
<a href="/images/2016/07/26/Chart-2-2-580x196.jpg" target="_blank">Click to enlarge</a>
<img src="/images/2016/07/26/Chart-2-2-580x196.jpg" alt="">
While the previous analysis looked at the number of sales of at least $2 million, the second chart looks at the number of suburbs that had at least one sale over the year at or above this price point.
Over the past year, 1,139 suburbs had a house sale at or above $2 million and 298 suburbs had a unit sale at that price point.  If we compare this to the pre-financial crisis peak there were 1,193 suburbs that had a sale within this price point before the financial crisis with this figure falling as low as 815 suburbs over the year to June 2009. 
It took until August 2014 for the number of suburbs with a sale at or above $2 million to eclipse the pre-financial crisis level.  With 1,437 suburbs nationally having at least one sale of at least $2 million over the past year it further highlights that housing is becoming less affordable in more suburbs.
<a href="/images/2016/07/26/Chart-3-2-580x197.jpg" target="_blank">Click to enlarge</a>
<img src="/images/2016/07/26/Chart-3-2-580x197.jpg" alt="">
It is particularly evident of the deteriorating affordability of housing when you look at the number of suburbs with a sale price at or in excess of $2 million over time in NSW and Vic.  As the above chart shows, particularly in NSW and to a lesser extent in Vic, there has been a significant increase in the number of suburbs with sales of at least $2 million over recent years.  This is reflective of housing prices being pushed higher, particularly in Sydney and Melbourne, as home values rise and competition for well-located housing increases.
As home values continue to rise, there will continue to be some bracket creep, with the number of homes selling at $2 million or higher likely to rise further.  We would anticipate an increasing number of sales at or above $2 million over the coming years, particularly in Sydney and Melbourne.  Of course the rising prevalence of sales at this price point is systemic of the deteriorating housing affordability and increasing cost of purchasing a home.
 Cameron Kusher is research analyst for CoreLogic RP Data. You can contact him <a href="https://blog.corelogic.com.au/about/">here</a>.
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The $2 million dollar dwelling sales surge: Cameron Kusher

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The growing number of available apartments for-lease in Sydney; should send shivers down the spines of newbie investors that bought off-the-plan.
Not to mention, the investors that bought due to, fears of missing out (FOMO) and being pressured from so called financial-advisors (so called experts), the spruikers.
Unfortunately, this problem of oversupply and the lack of tenants won’t go away over the next few years, if not longer. Not even if you drank a few strong coffees and all to quell your fears.
Recent mainstream reports, are already talking about 200,000 new dwellings yet to be built and all coming to completion within the next 24 months.
Below is a preview of the growing local Sydney vacant-apartment market, in some of our suburbs. (Data sourced from leading property portal adds)
Tips on how to get your apartment tenanted, in a market of growing apartment-rental oversupply.
If you are one of the unfortunate investors, in any one of these apartment blocks or areas where there is a vast amount of vacancies; take these simple steps to have your property leased quicker than the others:
<ul>
<li>Insist on obtaining access to your unit prior to settlement: to take internal photos for advertising and to show the property to prospective tenants.</li>
<li>If you bought through an agency or marketing-company, note that this same company sold to a lot of other investors: therefore, list your property with a local property management agent (PM), they will focus more on your property.</li>
<li>Find out from the selling agents/marketing company, how many apartments are available for lease in your block. This information will give you a clear idea of the rental price offering: therefore, don’t be scared to be the first to drop the asking price in the block, if required.</li>
<li>Make sure your agent is aggressive. When you have 11-15 property managers on a building site and all waiting for potential tenants at the open: you need an agent that can move fast and one that is not shy.</li>
</ul>
Signs of the times
Our greater audience and readers, will no doubt have more tips on what to do. The four tips shared above, have worked well for our team, in the past and lately. Feel free to share.
The sooner your PM team has access to the unit, the better chance you have of renting your property and at a good price.
Recent experience
Our team has just leased a unit in a complex of 270 apartments. The team found out that there are approximately 256 available for rent; sold to investors that is. Our PM spoke to the landlord and he quickly put in place the tips shared above.
The leading selling agency and other PM agencies advertised at $620+/week on like units, for-lease. Our PM advertised the unit for $620 and on the day of the open: he scheduled for an early morning open, but he still had 10 other PM agents alongside offering their landlord's apartments.
When a tenant approached the group and walked around the building; our PM walked up to him, asked if he was after a rental. After discussions with the Landlord and further ongoing checks and balances from our team; they signed the tenant on a 12 month lease and for $600/week.
Two weeks on, and you will now see on the property portals and in the same building, adds for like apartments at $520-$580/week.
I dare say, there is probably another 150-220 apartments still available for lease in that complex.
 
EDWIN ALMEIDA is licensee in charge of <a href="https://www.just-think.com.au/" target="_blank">Just Think Real Estate</a>.<a href="https://www.just-thin.com.au/"> </a>
He is also the creator of <a href="https://www.youtube.com/user/JustThinkProperty" target="_blank">Oz Real Estate.TV</a> and a presenter for <a href="https://propertyinvestingvault.com/" target="_blank">propertyinvestingvault.com</a>.
 
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The rise and rise of Sydney rental apartments: Edwin Almeida's warning to landlords

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For the property investor, the question of where to park a lazy $500,000 always remains somewhat challenging in Queensland’s Sunshine Coast, especially given the fact that early and easy capital growth is very difficult to come by, say valuation firm Herron Todd White in their July residential report. 
The $500,000 is a “price point that is also very competitive in the market,” according to HTW.
Beach side properties that provide a modest home with a higher value land component is still a good pick. However, you should be quite selective and along with being prepared for a long-term hold. The gains are not likely to be so easily won over within the next 12 months. There are little to no new beachside estates in the pipeline therefore leading to these properties not being easy to replicate. 
“This is one of the reasons why this product seems so appealing to us,” say HTW.
“The other options we believe continue to have some legs are the rural residential markets in and surrounding the hinterland townships. The market is still yet to recover and remains fairly soft. There is an ability to purchase these properties at below replacement costs which has to hold you in good stead for the future.
“The future upside magnifies if you can afford to get into the $700,000 to $800,000 range where you really do get a lot of home for your money.”
Units in small complexes with low body corporates and near to beaches (typically built in the 1980s) still provide good value at below $300,000, and up to around $400,000 for the refurbished ones, however this market has been picked over in the best areas like Alexandra Headland and Cotton Tree. 
The Sunshine Coast market has been in recovery for some time now. 
“Doing your homework to buy well, and ensuring your investment horizons are more long term, are two ways to try and get the best results.”
The continued good news story of the Sunshine Coast University Hospital, due for completion in 2017, and other infrastructure projects planned for the coast should hold us in good stead. 
As an illustration of the sub-$500,000 market, Property Observer found a three-bedroom, two bathroom house at <a href="https://www.realestate.com.au/property-house-qld-kawana+island-122449458" target="_blank">5 St Lucia Crescent, Kawana Island, Qld 4575</a> which recently sold for $470,000.
<img src="/images/2016/07/25/Sunshine%20Coast.jpg" alt="">
 
 
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For the $500,000 property market, Sunshine Coast offers long-term capital growth: HTW

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Commercial property sales – office, industrial, retail - in Victoria in the year to June touched a record high of nearly $9.4 billion and were nearly double the 10-year average, according to the latest Savills research.
The breakup includes more than $4.74 billion worth of office transactions, $1.87 billion in industrial transactions and $2.77 billion retail property transactions.
Savills Victorian manager Research &amp; Consultancy, Monica Mondkar, said incremental increases in annual investment sales data to do with the natural appreciation in values was normal, however, recent sales levels had no historical parallel. 
"Property sales figures generally rise and fall in correlation with the fluctuations of economic cycles, as do other asset classes. However, over the last five years commercial property investment has accelerated significantly at a time of relatively low global economic growth," she said.
From a low of $2.4 billion in June 2012, commercial sales touched $9.378 billion in 2016, according to the research. This was also 85 per cent up on the 10-year average of $5.05 billion.
"That is an unprecedented recovery driven by historically low interest rates and Australia’s safe haven status. Volatile global financial markets led investors to select core commercial property as a solid investment asset class,’’ Mondkar said.
<a href="/images/BOTMP%20-%20chart.png" target="_blank">Click to enlarge</a>
<img src="/images/BOTMP%20-%20chart.png" alt="">
Savills’ state director – CBD &amp; Metropolitan Sales, Clinton Baxter, said the record spend was in part a reflection of Melbourne’s livability status and projections that it was on track to become Australia’s most populous city.
"There is no doubt that Melbourne has been very attractive to property investors – it is safe and secure on all economic, political and social fronts and offers excellent returns – but underlying that attraction is Melbourne’s widely acknowledged superior livability status, which is driving strong population and economic growth, and forecasts that it will become the nation’s demographic centre by 2050 or before.
"Of Australia’s two major cities, Melbourne has more affordable housing - which has been critical to population growth - and arguably a more stable ­employment market and easier public and private transport access, and they are the key factors behind the ABS’ most recent data which reveals seven out of the country’s top ten growth areas are in Greater Melbourne,’’ Baxter said.
He said yields were a further attraction particularly for foreign investors.
"Whilst our investment yields have firmed to record low levels across all asset classes, to global investors our yields still appear very attractive relative to comparable assets in cities such as Singapore, Hong Kong, Kuala Lumpur, Taipei, Dubai and most major US cities.’’
At a glance:
Office - $4.739 billion in sales; previous year $4.319 billion; five year average $3.266 billion. 99 properties sold. Foreign investors purchased 51 percent of the stock.
Industrial - $1.873 billion in sales; previous year $1.855 billion; five year average $1.23 billion; 112 properties sold. Funds purchased 32 per cent of stock.
Retail - $2.766 billion in sales; previous year $2.246 billion; five year average $1.84 billion, 158 properties were sold. Private investors purchased 33 per cent of stock.
Foreign investors dominate the markets with 38 per cent of purchases by value followed by private investors at 21 per cent and funds with 18 per cent.
Foreign investors had a particular predilection for office property with just over 50 per cent of purchases, while private investors took the lion’s share of retail property at just under 33 per cent and funds were the largest buyers of industrial property also at just under 33 per cent.
<a href="/images/BOTMP%20-%20graphic.png" target="_blank">Click to enlarge</a>
 <img src="/images/BOTMP%20-%20graphic.png" alt="">
Baxter said the general appeal of Australia as a safe-haven investment destination was likely to become more pronounced with the recent Brexit and South China Sea concerns.
"Melbourne has clearly matured into a city capable of attracting a huge volume of off-shore capital from the full spectrum of investor classes ranging from wealthy privates, to major institutions, pension funds and sovereign wealth funds, and global factors which contribute to uncertainty for investors appear likely to work to enhance that status,’’ Baxter said.
<a href="/images/BOTMP%20-%20majorsales.png" target="_blank">Click to enlarge</a>
<img src="/images/BOTMP%20-%20majorsales.png" alt="">
 
 
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Victorian commercial sales touch record $9 billion: Savills

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A Woolworths-anchored shopping centre in Queensland's Logan City has been snapped up for $38.25 million by an Asian investor, while another in Brisbane's Banyo is up for sale.
The newly developed Woolworths Cornubia is 30 km south-east of the Brisbane CBD and 45 km north-west of the Gold Coast.
The deal translated to a net yield of 6 percent.
CBRE’s Peter Rossi and Michael Hedger brokered the deal, which was settled through an expressions of interest campaign.
“In the current market conditions, there has been a flight to quality for retail assets,” Rossi said.
“New Coles and Woolworths centres are being well received and are achieving tight yields at or better than 6%.”
The property comprises the new 5,309 sqm neighbourhood shopping centre along with a 1,393 sqm medical/professional centre. Woolworths is the anchor tenant, alongside 13 retail tenancies, with the adjoining complex comprising a major medical centre/pharmacy and four professional suites.
Woolworths accounts for circa 55% of the income stream.
The centre was acquired by an investor with existing retail interests in Brisbane.
The transaction follows another Woolworths’ sale in South East Queensland's Everton Park. The Woolworths and Masters centre was acquired for $70 million by Singaporean real estate investment managers Rockworth Capital Partners.
The next test of Queensland's retail market involves another Woolworths-anchored shopping centre in Banyo.
<img src="/images/2016/07/22/woolies-2nd-small.jpg" alt="" width="641" height="427">
The site was acquired from Woolworths by building company Adco, which then developed the neighbourhood centre based on a 20-year lease to the supermarket giant.
The sale campaign is through CBRE’s Joe Tynan and Justin Dowers.
The centre offers a fully leased net annual rental of circa $2.07 million.
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Woolworths centre in Queensland's Logan City snapped up for $38.25 million by Asian investor

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The Jamie's Italian chain and other iconic eateries controlled by the collapsed Keystone Hospitality Group have been put on the market by the receivers.
All 17 leasehold venues are for sale, after the group went into receivership last month after failing to renegotiate lending arrangements with its financiers KKR and Olympus Capital.
Keystone does not own any of the real estate in which it operates.
Ferrier Hodgson's Morgan Kelly and Ryan Eagle have appointed CBRE as the lead sales advisor.
The one caveat is that the Jamie’s Italian restaurants must be sold as a group.
“The Sydney, Brisbane, Adelaide, Perth, Canberra and Parramatta Jamie’s Italian restaurants are some of the best performing Jamie’s Italian restaurants globally and offer a very attractive opportunity for the right partner. We will continue to work closely with the Jamie Oliver Restaurant Group with a view to identifying a new partner for their business in Australia,” Mr Kelly said. “This may be part of a whole of enterprise sale or as a separate portfolio.”
Short-listed parties will be invited to commence due diligence via a commercial-in-confidence data room before submitting formal offers. 
“Formal bids are expected to be submitted and assessed in September 2016, with the aim of reaching in-principle agreement with a buyer or buyers in late September 2016.”
Kelly is hopeful that sales will be finalised be for the commencement of summer trade.
The Australian reported the failed restaurant operator had been due to repay its international lenders $25 million on the eve of its administration.
But the company, which was until recently run by Southern Cross Austereo boss Grant Blackley, was instead yesterday pushed into receivership by its lenders, American private equity giant KKR and Singapore-based private equity outfit Olympus, which it owed almost $80 million.
Accounts show the company, which is now run by investment banker and shareholder Richard Facioni, lost $20 million last financial year after turning over $120 million.
The Keystone accounts show Mr Facioni and fellow directors Warren Duncan and Robert Webster had agreed with the private equity giants to restructure the business, including raising an immediate $5 million in fresh equity from existing shareholders and selling assets that included Bungalow 8, Cargo Bar, Kingsleys and Jamie’s Italian chain.
The AFR reported 60 creditors were present at the first creditors meeting. 
Speaking publicly for the first time, the directors revealed to AFR Weekend they were planning an initial public offering for the group to raise equity and pay back the secured debt of about $78 million. They and other shareholders also injected $5 million of their own money into the business late last year.
This leaves about $34 million of unsecured debt, which included $6 million owed to trade creditors. many of them were at the meeting on Friday.
Keystone executive chairman Richard Facioni said the individual venues were trading well, but at a corporate level, the group was carrying too much debt.
Facioni also explained that the $24 million loss in the last set of accounts which prompted their auditors PwC to raise a going concern issue was made up mostly of interest payments and expansion costs related to the purchase of Pacific Restaurant Group, which owned rights to Jamie's Italian and other venue expansions.
The group made $120 million in revenue last year.
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jchancellor-FAypfDUnLy

Keystone selling all Jamie's Italian in one line

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Half-a-million dollars offers plenty of property options to owner occupiers or investors in Queensland’s Cairns because the sum is well above the median prices, say valuation firm Herron Todd White in their July residential market report.
A $500,000 property investment in Cairns will secure a well located modern executive style suburban dwelling or alternatively an above average quality apartment in the Cairns CBD, located on the mid to upper levels of a near new high rise unit development. 
“Indeed the purchaser or investor at this price level would find a large range of sectors, styles and locations available to choose from. However, it remains impossible to spend $500,000 on a new apartment due to the absence of new unit construction at that level,” says the HTW report. 
The $500,000 mark in the Cairns market is relative to the current (April 2016) median price levels of approximately $385,000 for houses and $220,000 for apartments. Over the past twelve months, 75% of houses and 95% of apartments sold in Cairns transacted for $500,000 or under. 
The Cairns market sits at the rising market stage of the cycle but is currently experiencing a pause due to factors such as tighter investment lending criteria and the uncertainty over negative gearing. This is indicated by sales volumes progressively softening over the past six to nine months while prices have reverted to minimal to no growth. 
“Nevertheless our prognosis is for the market to return to slow growth as the region’s tourism-based economy continues to improve,” says the report.
Property Observer looked up a recent sale on www.realestate.com.au that fits the bill. A three-bedroom, two-bathroom house at <a href="https://www.realestate.com.au/property-house-qld-cairns-122643390" target="_blank">5 McCrae Street, Cairns, Qld 4870</a> sold for $397,000.
<div> </div>
 
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