<a href="https://www.apartments.com.au/developers/s-p-setia">SP Setia</a> has lodged plans for a $750 million, three-tower mixed-use precinct that would complete the long-running redevelopment of Carlton's former Carlton United Breweries site.

The proposal at <a href="https://www.apartments.com.au/new-apartments/185-195-queensberry-street-carlton-vic-3053">46-78 Bouverie Street and 185-195 Queensberry Street</a> spans a 6,468 sqm site, the last remaining undeveloped parcels within the former brewery's 2007 masterplan.

Designed by <a href="https://www.apartments.com.au/architects/cox-architecture">COX Architecture</a>, the development will comprise two purpose-built student accommodation towers and a third build-to-sell apartment tower above a shared commercial podium and basement.

Across the three towers, SP Setia is proposing 606 build-to-sell apartments and 1,499 student accommodation units containing 2,009 beds.

The apartments will sit in the tallest tower, which will rise nearly 200m and 55 storeys. It will become&nbsp;one of the more substantial new build-to-sell apartment projects at the northern edge of Melbourne's CBD.

The apartment mix is weighted toward smaller inner-city product, with 188 studios, 206 one-bedroom apartments, 192 two-bedroom apartments and 20 three-bedroom apartments

<img alt="First look: SP Setia plans three-tower finale for Carlton’s former CUB precinct" data-entity-type="file" data-entity-uuid="8271bc87-1b0a-41b7-ac73-a425ee375261" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/3_2.png?VersionId=G4lw23o90B1boX4k4dj7rdz2ZEajS9wy" />

Part of the precinct will be a large-scale&nbsp;3,684 sqm supermarket and a further 2,198 sqm of speciality retail, creating close to 5,900 sqm of new commercial space within the precinct.

But one of the biggest components of the proposal is what sits between the buildings.

Around 4,650 sqm, or roughly 72 per cent of the site, will be publicly accessible open space, incorporating plazas, pedestrian connections, landscaped laneways and retail spill-out areas.

The ground plane is intended to finally complete pedestrian connections envisaged when the CUB masterplan was first approved nearly two decades ago, stitching together Victoria Street, Queensberry Street, Bouverie Street and Swanston Street through the former brewery precinct.

Urbis said the development would "complete the CUB precinct", with the public realm providing important north-south and east-west connections through what is currently the final undeveloped portion of the masterplanned site.

SP Setia is also exploring a new linear park within the Bouverie Street road reserve, with the concept to be developed further with the City of Melbourne through the planning process.

The proposal is being pursued through the Victorian Government's Development Facilitation Program under Clause 53.23 for significant residential development with affordable housing.

The planning report acknowledges the proposed heights exceed those contemplated under the original Comprehensive Development Plan and masterplan, but argues the built-form context has changed considerably over the past two decades.

Urbis said the three towers would instead create a stepped transition between Carlton and the Hoddle Grid, rising progressively from the 94.1-metre Tower One along the Queensberry Street edge to the 199.44-metre Tower Three closer to the established CBD-scale buildings to the south.

<img alt="SP Setia" data-entity-type="file" data-entity-uuid="e885a07a-592c-40fc-bf82-e6dbaf32da54" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-21%20at%208.52.24%E2%80%AFAM.png?VersionId=7s_ErUkSKAdY1mAWp3GRZgMNCGtwhk5m" />

SP Setia plans to deliver the development across three stages.

Stage One would deliver the basement, podium and retail areas for the entire precinct alongside the first student tower. Tower Two would follow in Stage Two, before the 606-apartment Tower Three is delivered as the final stage.

If approved and delivered, the project would close out a redevelopment process that has been underway since the former brewery masterplan was approved in 2007, adding more than 2,600 student beds and apartments to a precinct already home to Swanston Central, the Barak Building, RMIT Design Hub and several large student accommodation developments.

&nbsp;

&nbsp;

Joel Robinson

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

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

Lowe Living unveils Middle Park apartment development

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

DVB Projects to launch second Broadbeach apartment tower as demolition commences

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

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

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

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

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

Prominent New Zealand apartment and hotel operator, <a href="/developers/safari-group">Safari Group</a>, is offering up a prime investment opportunity for Australians to purchase off the plan in one of the world’s most popular ski destinations.

They recently took to market Mountain Oak Queenstown Apartments, in the growing precinct of Remarkables Park in Frankton, near the airport and at the foot of The Remarkables - the mountain range the locals like to call “The Remarks”.&nbsp;

Sydney investors have shown interest in the one, two and three-bedroom apartments that secure high-season occupancy six months over the year, primarily over summer and winter months.

They average 90 per cent occupancy across their portfolio over January, February, March, August, November and December, while shoulder season months of April, July, September and October are still occupied 70 per cent of the time, with the growing appeal of Queenstown becoming not just a hotspot for the snow, but a lifestyle destination.

Even in the low seasons of May and June, occupancy levels reach around 40 per cent.

<img alt="Safari Group’s Mountain Oak Apartments brings new investment potential to Queenstown" data-entity-type="" data-entity-uuid="" src="https://res.cloudinary.com/dz9xllyip/image/fetch/f_auto,c_limit,w_1440,q_auto/https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/field/image/Ext_Cam15_Sunny.jpg?VersionId=SJAROUM_1s.Tr5ciMk4EEj5oAt_Vewmv" />

Safari’s Safari Hotels arm can also manage the holiday letting for an investor, from the listing on holiday accommodation websites such as Airbnb and Booking.com to the cleaning and maintenance of the investment. They’ve been in the short stay management business for 15 years and offer 24/7 support for investors, an important convenience benefit for any overseas investor

Another major drawcard for Australians is that New Zealand doesn’t have a stamp duty policy - so the entry price of NZ$639,000 (AU$586,000), is all that is payable on completion.

<img alt="Safari Group’s Mountain Oak Apartments brings new investment potential to Queenstown" data-entity-type="" data-entity-uuid="" src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,dpr_2.0,q_auto:good/https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/313_Livingv2_WEB.jpg?VersionId=nV229fM0ZeYpoxOrX372HyGjfwY_LR8c" />

Safari is starting construction of the 141 apartments in Q2 this year, with a two-year build estimated to complete in mid-to-late 2027.<img alt="" data-entity-type="" data-entity-uuid="" height="15" src="https://lh7-rt.googleusercontent.com/docsz/AD_4nXczFpFAb7WuA6f4f9TtKWcqXyNwR8qqtakWv352ERkpqNlP3KwIo8YKxw67jZNHfpjEGIZGv5MQTbnvLZwNt8iu9IVdOrswOjCvBZ4zhSoOOLrpt6etVEZTN1gkBho0r_R72zdHNA?key=yq3daOanqHSb88QFd8jGYKdb" title="Click and drag to move" width="15" />​

The apartments will feature modern amenities and contemporary designs with expansive windows capturing sweeping views of The Remarkables mountain range.&nbsp;

Interiors are equipped with modern finishes, premium appliances, and secure electronic key-locked doors, ensuring a comfortable living experience for residents and guests alike.

With its strategic location near Coronet Peak and Cardrona Alpine Resort, as well as key retail and dining precincts such as Market Street, Five Mile Shopping Centre, and Remarkables Market, Mountain Oak offers a strong proposition for investors seeking high rental yields and capital appreciation in one of New Zealand’s most sought-after locations.&nbsp;

Queenstown’s sustained demand for visitor accommodation and rental properties is underpinned by a shortage of housing options, attracting both local and international buyers.

Safari Group offers low-touch investment proposition in Queenstown’s popular ski fields district

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Savills has opened its first office in Canada following the purchase of Toronto-based commercial real estate firm Real Facilities.
Stan Krawitz, founder and president of Real Facilities, will oversee the operation for Savills Studley as executive vice president, founder and head of Canada.  
He said Savills Studley and Real Facilities have collaborated on numerous large transactions for clients on both sides of the border for more than five years. 
"In many ways, this is just the formalization of the great partnership we’ve enjoyed. Joining Savills Studley provides us with a true global platform for our clients.  Many Canadian companies are expanding to the U.S, as well as seeking locations in Europe and Asia," he said.
"The transition has been seamless.”
Savills operates from over 600 owned and associate offices, employing more than 30,000 people in over 60 countries.
 
 
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mick.cee-iDmgDDAmu8

Savills open first Canadian office with eye on Asia

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The St Vincent de Paul Society Queensland has purchased a new community support and ‘Vinnies’ retail facility at Maroochydore on the Sunshine Coast for $2.475 million.
The four units are in the Norval Court Corporate Centre at 1 Norval Court. 
St Vincent de Paul Queensland had been looking for some time to run their multi-faceted community support and charity retail from upgraded and larger destination premises, said Smith.
Vinnies shops offer affordable and pre-loved items, according to the society's website.
“We’re thrilled to have a new home for our conference and shop so we can continue our good work for the Maroochydore community," said Ian Laherty, St Vincent de Paul Queensland’s Northern Central Council president.
The sale was through Ray White Commercial's David C Smith and Christine Freney.
“The Norval Court lots offer us an improved retail location with double the space and facilities compared to our current site, more parking for customers, access to public transport, and additional office space,” added Laherty. 
The conference centre and shop will open at the new location in early 2016.
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jonathanchancellor-7SQnKwU6yx

St Vincent de Paul buys Maroochydore centre for about $2.5 million

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The US Federal Reserve should just get on with it and raise interest rates, says economist Harley Dale, in the latest issue of the Construction Brief by Australian Construction Insights.
There has been an expectation for some time that the US FOMC – Federal Open Market Committee would this year raise interest rates for the first time in over a decade, he noted.
The hike could have happened in September itself, but a slowing China rattled the Fed. 
"We will almost certainly see the Fed raise interest rates this week are markets are primed and priced for a rate hike, it says, although nobody knows how the reaction will pan out. 
"In Australia, there has been an element of 'I used to be indecisive, but now I'm not so sure' to pricing of another interest rate change." 
 
The Official Cash Rate (OCR) will stay on hold at 2 per cent throughout 2016, but financial institutions will increase variable mortgage rates (and probably business rates) early in the new year, his report says. Against this backdrop there is still a far greater risk that the RBA lowers the OCR further before it raises it. 
The latest ACI Construction Monitor also said that NSW was now the strongest non-residential construction market in Australia, followed by Victoria. 
The Construction Brief paints an optimistic picture of 2016, helped by NSW and Victoria. 
These are Australia’s largest states and both also look the goods in terms of the CommSec State of the States Report.
The ACI Construction Monitor for Summer 2015 not only ranked NSW the number one non residential market – but also assessed non-residential construction conditions in NSW as having a strengthening outlook. 
The outlook is also positive for ‘strengthening’ of non-residential construction conditions in Victoria. The remaining six states and territories are all assessed to be ‘neutral’ or ‘weakening’. 
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j.ballantyne1990-6AQqhLzZaK

Get set for the Fed's rate hike: Harley Dale's ACI Construction Brief

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The former Fire Station in Sydney's Fairfield has fetched $1.5 million at auction, $400,000 above the reserve. 
The <a href="https://www.realcommercial.com.au/property-offices-nsw-fairfield-501775746" target="_blank">3 William Street</a> property sits on a 955 square metre site and is zoned for mixed use, providing an opportunity for mixed use retail, commercial, education and/or residential developments in the future. 
“We had strong interest from local owners, property developers, owner-occupiers and opportunistic investors,” said selling agent Harry Bui of Colliers International.  
“The purchaser was a private developer who bought the property with plans to retain the front heritage building for a commercial investment and redevelop the balance of the site for a mixed use development in the near future."
Fire &amp; Rescue NSW recently relocated to their new premises on Fairfield Street, Fairfield East. Hence, the auction to dispose of the William Street asset.
The deal comes on the back of the Cabramatta Fire Station that sold earlier this year for $2.1 million.
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Fairfield Fire Station fetches $400,000 above reserve at auction

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A potential mixed use development site (subject to council approval) on a prominent Parramatta Road corner at Ashfield in Sydney's inner western suburbs is up for sale for the first time in 30 years.
The combined sites, at 502-596 Parramatta Road (above) and 164 Frederick Street, are being marketed by Ray White Commercial Inner West's Kristian Morris and Tim Morrison.
Price expectations were not disclosed.
The corner block was a former timber yard and spans nearly 1,445 square metre. 
“The land offers high exposure to approximately 100,000 vehicles daily and is less than 15 minutes from the Sydney CBD," said Morris.
The site has three street frontages and rear lane access.
“The site is zoned Flexible B6 Enterprise Corridor which allows a 15 metre building height limit and a maximum floor space ratio (FSR) of 1:5:1,” added Morrison.
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Corner site for sale in Sydney's Ashfield

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Sydney's CBD office market saw positive growth during 2015 with the third quarter showing a positive net absorption of 25,600 sqm, the seventh consecutive quarter  of positive net absorption in the CBD office market, according to Herron Todd White.
Herron Todd White's December December Month in Review said the strong tenant activity across the Sydney CBD has seen vacancy further tighten, with the Sydney CBD being the only national CBD office market with a total vacancy below 10%.
"Prime and secondary gross effective rents increased over the year, with a recorded increase of 2.7% at the end of the third quarter," it noted.
"From a supply perspective, a key development underway in Sydney is Barangaroo. The first practical completion, Barangaroo South, was recorded in quarter three. The International Towers Sydney (T2) is being completed in stages, with the low and mid- rise components completed, offering 59,385 square  metres of lettable area.
"Nine other commercial office projects are currently under construction across the Sydney CBD, including 200 George Street and 333 George Street. While a number of these projects comprise tenant pre-commitments, it is expected that the shifting tenant profile down to Barangaroo will result in increased available office space in the vacated buildings."
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Third quarter positive growth in Sydney's CBD office market: HTW

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A mixed-use development property in west Melbourne has sold to a local investor at auction for $6.8 million.
The <a href="https://www.realcommercial.com.au/property-land+development-vic-west+melbourne-501776166" target="_blank">55 Walsh Street</a> property comprises a three-level office building with multiple tenancies currently returns $208,000 per annum gross. 
There are some vacancies as well, hence the potential to increase income.
The sale through Anthony Carbone of CVA Property Consultants represents a rate of $3,269.23 per metre square.
The building is in a mixed-use zone allotment of 695 square metres, allowing for development including but not limited to office and residential (STPA). 
It is close to Queen Victoria Market and Flagstaff railway station.
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West Melbourne office building fetches $6.8 million at auction

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Pet Supersavers is the latest business to move to North Point Business Park in Queensland's Kallangur and the tenth deal this year, up from only one in the previous 12-month period.
The 30-hectare Walker Corporation's commercial park is now more than 90% committed, with only one lot at 2.8 hectares of general industry-zoned land remaining for sale.
The retailer agreed to a 10-year lease term with local developer Donnelly Partners, who purchased the land from Walker Corporation earlier this year and developed a purpose built new store for Pet Supersavers.
The 2,620 square metre lot consists of a two unit industrial strata development of which Pet Supersavers occupies 750 square metre including a retail store, warehouse, backyard and car park. 
“North Point Business Park presented us with an opportunity for a bigger and better facility at an affordable cost, all under the one roof," said Leichelle McMahon, director of Pet Supersavers.
"We now have a reptile room that replicates the look and atmosphere of a rainforest, a vet and microchip service, dog rescue and quarantine, doggie day care and cat room, pet training, kids’ parties and holiday club, adult and child educational classes, a backyard for the dogs and more, with ample customer parking.” 
North Point has experienced its busiest year to date, introducing a further eight new businesses in addition to Pet Supersavers and Elite Soil Testing. 
The spike in demand at the business park has been helped by government-funded infrastructure upgrades to the area, in particular, the soon to open Moreton Bay Rail Link which adjoins the business Park. 
In addition to the rail link, upgrades to the local road infrastructure have greatly improved connectivity to the Bruce Highway only 3 km away. Located 25 km from Brisbane CBD, North Point is Walker Corporation’s latest industrial development and represents a $75 million investment by the company in south-east Queensland. 
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Walker Corp's North Point industrial park in Queensland gets new tenant; near sold out

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Retail property group Vicinity Centres has identified about $750 million to $1 billion of asset sales opportunities, subject to market conditions. 
The proceeds will be redeployed into value-accretive development and acquisition opportunities, it said, such as the recently announced $319 million acquisition of The Shops at Ellenbrook and Livingston Marketplace in Perth.
“Vicinity’s strategy is to own high-quality assets across the retail spectrum that are well-positioned in strong catchments and where we can add value through our intensive asset management and development capability," Angus McNaughton, CEO and Managing Director of Vicinity, said.
Vicinity has $22.2 billion in retail assets under management across 93 shopping centres, making it the second largest listed manager of Australian retail property, the announcement said.
McNaughton said the group would target an annual total return in excess of 9 % and underlying earnings growth of more than 3%.
Vicinity will also cancel its $1.8 billion bridge facility by the end of the calendar year. This follows the establishment of $700 million of new bank debt facilities and the issuance of A$433 million of US Private Placement (USPP) Notes which will settle next week.
“Our development pipeline currently stands at $1.5 billion on balance sheet – projects at Chadstone Shopping Centre, Warriewood Square, Colonnades and Halls Head Central are underway and we expect works at Mandurah Forum to commence in the first half of next year," said Michael O’Brien, the company's chief investment officer. 
"These developments are forecast to generate internal rates of return of 10% to 15+%. 
He added that the company will look to selectively acquire assets and cited the examples of The Shops at Ellenbrook and Livingston Marketplace in Perth. 
The company — formed out of the merger of Federation Centres and Novion Property Group — is on track to achieve 75% of merger operational cost synergies by June 2016, McNaughton said.
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Vicinity plans asset sales of up to $1 billion as portfolio rejig 

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Two retail properties anchored by Westpac were sold under the hammer in Ballarat and Bendigo in Victoria.
The <a href="https://www.realcommercial.com.au/property-retail-vic-ballarat-501765658" target="_blank">302-306 Sturt Street</a> property in Ballarat (above) fetched $5.7 million for a yield of 6.5%, while the one at 49-53 Mitchell Street in Bendigo sold for $4,575,000 on a 4.22% yield.
Both properties are anchored by Westpac, with other smaller adjoining retail spaces forming part of the whole property.
The Ballarat property is opposite the local town hall and Myer building.
Selling agent Andrew Lewis of Colliers International said 2015 had been a year of strong investment sales across the region.
“Low interest rates have fuelled increased interest in commercial real estate, particularly in the retail sector,” he said.
“We have sold in the order of 10 properties around the region in the last 12 months at yields of between 6% to 7%.
"This is some 1% to 1.5% lower than 12 months ago.
"We see this trend continuing into 2016.”
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