<a href="https://www.apartments.com.au/developers/shayher-group">Shayher Group</a> has secured approval for its major mixed-use development at 309 North Quay, paving the way for more than 1,100 apartments across two towers on the western edge of the Brisbane CBD.

The approval marks a significant step forward for the 6,436 sqm riverfront-adjacent site near the William Jolly Bridge, an area increasingly targeted for high-density residential development as Brisbane’s Roma Street precinct evolves into one of the city’s key transport and lifestyle hubs.

Designed by <a href="https://www.apartments.com.au/architects/plus-studio">Plus Studio</a>, the approved scheme will deliver <a href="https://www.apartments.com.au/new-apartments/309-north-quay-brisbane-city-qld-4000">two towers</a> rising 56 and 51 storeys, incorporating a mix of one to four-bedroom apartments, branded residences, retail, and hospitality offerings.&nbsp;

The development has been designed as a two-stage project. The eastern tower will accommodate 611 residences, including branded residences and a rooftop sky restaurant, while the western tower will introduce a further 511 apartments.&nbsp;

Rather than treating the site as a standalone tower project, the proposal focuses heavily on the public realm and pedestrian connectivity, responding to the transformation underway around Roma Street Station and the Cross River Rail precinct.

<img alt="Shayher Group secures approval for dual-tower 1,100-apartment North Quay development in Brisbane CBD" data-entity-type="file" data-entity-uuid="c11aa631-aea6-499d-8728-683126f3fa52" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/240522_n11-2.jpg?VersionId=NeKLHwbYutfM7uPGlkyl5Gz92cHrbOPB" />

The towers will rise from a layered podium designed by Blight Rayner, featuring publicly accessible retail, landscaped terraces, and a cross-block pedestrian link connecting May Street to North Quay. The podium design incorporates what the project team describes as a “cliff garden,” with subtropical planting integrated throughout the built form from street level upward.

Plus Studio Director Danny Juric said the design approach sought to establish a stronger relationship between the site, the river edge, and the wider city renewal occurring around Roma Street.

“The design for North Quay by Shayher represents our most significant project in the Brisbane CBD to date,” Juric said.

“Our design proposes two distinctive towers that aim to serve as an organic gateway to the city, framing views to the river, Mount Coot-tha and Roma Street.”&nbsp;

The architecture adopts slender tower forms with faceted glazing and articulated façades intended to respond to Brisbane’s subtropical climate, while also reducing wind impacts at height and maximising river and city views.

<img alt="Shayher Group secures approval for dual-tower 1,100-apartment North Quay development in Brisbane CBD" data-entity-type="file" data-entity-uuid="ea686017-3f17-44e1-8d10-9659b6f6f306" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/09_2025_five-dock-comms-plan.jpg?VersionId=LNvkRBrj2irHReA8cpx_COJ4KOIZHCm." />

According to planning documents prepared by Urbis, the project has been positioned to support Brisbane City Council’s broader inner-city intensification strategy and the ongoing renewal of the Roma Street precinct.

The location places future residents within walking distance of Roma Street Station, the future Brisbane Metro interchange, and the city’s expanding pedestrian and cycling network. The site also connects directly to major road corridors including Coronation Drive and the Inner City Bypass.&nbsp;

The approval adds to Shayher Group’s growing Queensland development pipeline, which also includes the redevelopment of the former Bulimba Barracks site in Brisbane’s inner east.

Joel Robinson

First look: Shayher Group secures approval for dual-tower, 1,100-apartment North Quay development in Brisbane CBD

A full-scale Sky Homes prototype apartment for <a href="https://www.apartments.com.au/new-apartments/zeste-at-the-orchards-norwest-104-fairway-drive-norwest-nsw-2153">Zeste</a> has been opened by <a href="https://www.apartments.com.au/developers/sekisui-house-australia">Sekisui House Australia</a>, offering buyers a look at the final residential release within The Orchards masterplan in <a href="https://www.apartments.com.au/developments/norwest-nsw-2153">Norwest</a>.

The prototype launch coincides with buyer demand for larger apartment living continuing across Sydney’s Hills District.

David Lee, Sales Manager, Apartment &amp; Mixed-Use Developments at Sekisui House Australia said it was evident from the preceding four stages at The Orchards that a large number of buyers were local owner occupiers or downsizers specifically looking for oversized apartments with additional living spaces.

“The majority of buyers prefer to touch, feel and physically sight a full-scale completed apartment, rather than imagining the living spaces from floor plans," Lee says.

"The prototype apartment provides greater clarity and buyer confidence. We expect this will increase sales momentum for Zeste and the Sky Homes in particular.”

[smartcode_project:default project_id=150510 project_image_fid=351878]

Positioned within Stage 5’s Zeste project, the Sky Homes form part of the final opportunity to purchase within the award-winning master-planned community, which will ultimately deliver approximately 1,300 apartments.

Designed by <a href="https://www.apartments.com.au/architects/rothelowman">Rothelowman</a>, Zeste comprises two residential buildings, Essence and Eden, providing 209 apartments surrounded by extensive landscaping, resort-style amenities and community spaces.

Ben Pomroy, Principal at Rothelowman said Zeste explores a reinvention of the traditional house, in the orchard, synthesising the nostalgic story of the orchard homestead of yesteryear with a contemporary aesthetic inspired by the landscape.

“Natural light and ventilation are key to the design, contributing to a higher quality of life at the human scale. Across all Rothelowman projects, our ethos of ‘a generous eye for life’ drives our consideration of the human experience as the central point of focus of our design process.”

Pomroy says a&nbsp;notable design element is the cathedral glass light boxes incorporated in the joinery, inspired by the idea of wandering the orchard homestead with a lantern in hand, something familiar and nostalgic.

"We took this narrative and gave it a contemporary twist that is both beautiful and functional, creating unique features that unify the kitchen and bathrooms design.”

[smartcode_project:default project_id=150510 project_image_fid=351874]

In addition to the two residential buildings, Zeste comprises a single-story community amenity pavilion nestled in the landscape between Essence and Eden.

“The communal pavilion is a distinctive feature designed to foster a deep sense of community, with nature at its heart," Pomroy added.

"Whether it is watching the football grand final or hosting a family BBQ, the pavilion is designed as a place where residents can create memorable moments with friends, family and neighbours.

Since launching Essence, the first building within Zeste, buyer demand has remained strong with more than 30 per cent of residences already sold. Sky Homes have accounted for nearly 40 per cent of all sales achieved since launch.

“Purchasers are responding positively to the oversized layouts, diverse apartment configurations and the vast range of community facilities that will be available at completion,”David Lee noted.

Zeste Sky Homes represent approximately 35 per cent of the entire Stage 5 offering and are available across both Essence and the yet-to-launch Eden building. Prices for the Sky Homes range from $1,135,000 with one car space through to $1,500,000 for two car spaces.

Apartments across the broader Zeste release start from approximately $715,000, with generous floorplans ranging from 59 to 144sqm. Select residences also feature integrated ‘Max’ spaces, designed to function as flexible areas for home offices, children’s playrooms or additional storage.

Zeste also continues Sekisui House Australia’s sustainability partnership with Altogether Group, delivering integrated water, power and data services alongside passive design initiatives including cross-ventilation, landscaping and water features.

Early purchasers are currently able to access a selection of premium upgrade options, with VIP buyers receiving one complimentary upgrade package. A 2.5 per cent deposit is available for a short time.

Sekisui recently commenced its pre-construction phase. They are expecting an early 2028 completion of Zeste.

[smartcode_project_cta:default project_id=150510]

Zeste Sky Homes prototype opens as buyer demand surges for oversized apartment living

Having recently announced its entry into the booming Gold Coast new apartment market with <a href="https://www.apartments.com.au/new-apartments/aere-chevron-island-18-20-mawarra-street-surfers-paradise-qld-4217">Aere Chevron Island</a>, developer Martello™ is offering generous stamp duty savings for buyers before June 30.

Martello™ says the incentive creates a more accessible entry into premium apartment living.

"While incentives in property are nothing new, today’s stamp duty contributions arrive at a particularly important moment," the developer says.

"Buyers are not only seeking quality homes and strong locations; they are also looking for smarter financial entry points. Reducing or offsetting stamp duty can represent tens of thousands of dollars in savings - funds that can instead be directed toward furnishing a home, reducing mortgage pressure, or simply providing peace of mind during the transition into ownership."

[smartcode_project:default project_id=143932 project_image_fid=367517]

Aere is one of the more boutique new developments on Chevron Island, with just 33 apartments across 18 storeys on Mawarra Street

The developer has placed a strong emphasis on wellness, briefing architecture firm Raunik Design to embed this philosophy into the project.

<a href="https://www.apartments.com.au/developers/martello">Martello™</a>&nbsp;has positioned Aere as a continuation of its human-centric development approach, with a focus extending beyond amenity to the fundamentals of layout, natural light, and spatial planning.

[smartcode_project:default project_id=143932 project_image_fid=368446]

To bring a heightened level of confidence to the project, <a href="https://www.apartments.com.au/developers/martello">Martello™</a>&nbsp;has already appointed Promax Construction to build the tower. They are expected to start construction in the coming months.

Martello™ says that in any market cycle, confidence matters.

"Buyers who may have been waiting on the sidelines are now reassessing their timing as developers and vendors introduce meaningful incentives designed to support decision-making. For owner-occupiers, it creates an opportunity to secure a premium residence with reduced upfront costs. For investors, it can improve the overall acquisition equation at a time when rental demand remains exceptionally strong across many key markets."

&nbsp;

[smartcode_project:default project_id=143932 project_image_fid=367507]

Aere offers a mix of two-, three-, and four-bedroom apartments, the latter of which occupy half a flor. These layouts prioritise separation between living and sleeping zones, along with increased privacy and storage, features more commonly associated with detached housing than traditional apartment product.

Aere’s private resident amenity spaces centre on wellness. A rooftop level will incorporate a heated swimming pool, sauna and spa, alongside a residents’ lounge, dining areas and barbecue spaces, while additional shared facilities throughout the building include a gym and yoga area.

[smartcode_project:default project_id=143932 project_image_fid=367515]

&nbsp;

"What we are seeing now is a market that rewards readiness," Martello added.

"Buyers who are informed, financially prepared, and willing to act decisively are finding opportunities that may not exist once conditions shift again. Incentives such as stamp duty contributions are typically limited in duration and allocation, particularly within tightly held developments where demand remains high.

&nbsp;

Offer available on selected residences at Aere Chevron Island only. Stamp duty contribution provided by the developer at settlement and cannot be exchanged for cash or combined with any other offer unless approved by the developer. Offer valid for contracts signed on or before 30 June 2026. The developer reserves the right to amend or withdraw the offer at any time without notice. Terms and conditions apply.

[smartcode_project_cta:default project_id=143932]

Martello™ offers limited time stamp duty concessions at Aere Chevron Island

New development specialists Lachlan Cottee and Ben Dalgleish have unveiled their new development firm, Dalcott, following several successful projects delivered under the Pyco banner across the region.

Pyco is currently delivering Atelier in nearby West End, Nouveau in Albion, and Onde at Kirra, its debut Gold Coast apartment development in the booming Kirra Beach precinct.

Its first plans under the new Dalcott banner are in South Brisbane, which has been Brisbane’s most enquired-on suburb so far in 2026, while neighbouring West End has also continued to record strong demand.

The developer already has approval for an 11-storey building with 65 apartments on Browning Street, however has recently acquired the adjoining 910 sqm site at the rear, creating a combined 2,746 sqm footprint that will now allow for two 11-storey buildings with 92 large-scale apartments, a configuration Cottee and Dalgleish have focused on across their local portfolio.

The project, known as <a href="https://www.apartments.com.au/new-apartments/marrone-south-brisbane-39-browning-street-south-brisbane-qld-4101">Marrone</a>, will comprise 84 three-bedroom apartments, 16 of which will include an additional multipurpose room, and just eight two-bedroom residences.

DAH Architecture has led the design of Marrone, which will include more than 330 sqm of communal open space and rooftop recreation areas.

<img alt="Marrone" data-entity-type="file" data-entity-uuid="7eeea1a0-be23-47c8-80fb-3409428241fd" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-05-21%20at%209.36.38%E2%80%AFAM.png?VersionId=pZW7o.tB7oJovYCRIFSxrZbMr6QdpHy." />

Cottee told Apartments.com.au the project reflects a gap in Brisbane’s apartment market.

"It is an area we know well with Atelier, another development which focuses on large apartments, less than 300 metres away," Cottee says.

"There's limited supply of large-scale apartments of this size in a single building in Brisbane. The majority of apartments in this category are in considerably smaller buildings, on the water, and are only really accessible to the deepest of pockets.

"Marrone will offer the same size and scale, but with greater amenity and at a much more realistic price point for the market."

The architectural approach reflects the continued evolution of South Brisbane’s higher-density residential character. Renders show a heavily landscaped façade composition with curved balconies, textured brickwork, deep recesses, and integrated planting aimed at softening the scale of the twin towers.

The revised proposal builds on the design narrative established in the original scheme. In the earlier submission, Gatehouse Architects described the project as a continuation of Browning Street’s long-term urban transformation.

“The proposal echoes the spirit of early developments like Watson Terrace (built in 1888), by contributing to the growth and diversification of the local population,” the original design statement noted.

“Just as Watson Terrace played a role in the area’s early gentrification, this development continues that trajectory, delivering contemporary housing that addresses the evolving needs of South Brisbane’s expanding community.”

The updated proposal, designed by DAH Architecture, spans a 2,746 sqm corner site with frontages to Browning and O’Connell Streets. The development will comprise two 11-storey residential buildings delivering 92 apartments, replacing the previously proposed 65-unit scheme.

The apartment mix has shifted further toward larger owner-occupier residences, continuing Dalcott’s established strategy across South East Queensland. The plans include 68 three-bedroom apartments, 16 three-bedroom apartments with multipurpose rooms, and eight two-bedroom residences. Two basement levels will provide 142 car spaces, alongside bicycle parking for 115 bikes.

The larger Marrone proposal arrives amid sustained redevelopment momentum across South Brisbane and the wider Kurilpa precinct, where developers are increasingly targeting owner-occupiers seeking larger apartments close to the CBD, cultural precincts, and riverfront amenity.

The site sits within walking distance of South Bank, the Queensland Performing Arts Centre, Brisbane State High School, and several major transport connections, while nearby Fish Lane and West End continue to drive demand for higher-end inner-city apartments.

Cottee is expecting Marrone to launch around August with Realm Projects.

Exclusive: Dalcott doubles down on South Brisbane with twin-tower Marrone plans

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<a href="https://www.apartments.com.au/developers/doma-group">DOMA Group</a> has unveiled plans for Newcastle Quay, a major waterfront precinct set to reshape Newcastle’s harbourfront and further cement the city’s evolution into one of Australia’s fastest-growing urban destinations.

Positioned on a prominent site within the Honeysuckle Precinct, Newcastle Quay will span both sides of Honeysuckle Drive, connecting directly to the Foreshore Promenade and sitting within walking distance of Newcastle Interchange.

The mixed-use precinct is planned to include around 1,000 apartments, more than 28,000 sqm of commercial office space, 6,000 sqm of retail, and a 180-room hotel anchored by a 500-seat conference and exhibition centre, a move expected to significantly lift Newcastle’s ability to attract major business and tourism events.
</section>

<img alt="DOMA Group unveil Newcastle’s future with transformative Newcastle Quay Precinct" data-entity-type="file" data-entity-uuid="0642ca09-67cc-4920-8a7e-d18df9729b4e" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/%3D.png?VersionId=CnDmZxQnOV5LN0ePu7jaFBXC9tPGTrWm" />

The proposal builds on DOMA’s growing Newcastle pipeline, where the developer has already delivered 866 apartments and more than 19,000 sqm of commercial and retail space since entering the market in 2013. A further $2 billion pipeline is also in the works across the city.

The masterplan and executive architecture are led by <a href="https://www.apartments.com.au/architects/sjb-architects">SJB</a>, with building concepts developed alongside Stewart Architecture, Architecture AND and Curious Practice, and landscape design by <a href="https://www.apartments.com.au/landscape-architect/turf-design">Turf Design Studio</a>. More than 11,000 sqm of open space is planned, including a new waterfront park known as Honeysuckle Green, upgrades to Tree of Knowledge Park, and new pedestrian and cycling links throughout the precinct.

At the centre of the development will be the heritage-listed Wickham School of Arts, which DOMA plans to reposition as the civic and cultural heart of the precinct through restaurants, bars, events and public gathering spaces.

The broader vision is to create a genuine day-to-night precinct, blending residential, hospitality, retail, commercial and cultural uses in a way Newcastle has yet to experience at this scale.

<img alt="DOMA" data-entity-type="file" data-entity-uuid="16e5478e-40a1-4aae-bad0-520cf226eb24" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-05-22%20at%209.20.45%E2%80%AFAM.png?VersionId=Zs7UFgzGYEbDefCBsqI6W507xnyyiGlm" />

DOMA Group Managing Director Jure Domazet said the aim was to create a precinct that becomes synonymous with Newcastle itself.

“Our vision is to create a precinct that not only delivers high-quality commercial, residential, and cultural spaces, but also defines Newcastle’s waterfront for generations to come,” Domazet said.

DOMA’s Chris Farrington said the project would fundamentally change how Newcastle is perceived nationally.

“Newcastle Quay is more than a waterfront precinct, it is a national announcement for this city,” Farrington said.

“A world-class Conference and Exhibition Centre will open Newcastle and the Hunter Region to a national and international audience for the first time, delivering something this city has long deserved.”

The project is expected to generate more than 4,000 full-time equivalent jobs and act as a major economic driver for the Hunter region through tourism, business events, hospitality and commercial investment.

Minister for Planning and Public Spaces Paul Scully said the final parcel of harbourfront land will be a "true mixed-use precinct destination that includes housing, hospitality and entertainment, commercial spaces, retail, economic and social outcomes."

DOMA Group unveils 1,000-apartment Newcastle Quay precinct

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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Luxury apartment developer Fridcorp, and its partner Wingate, have sold a Sydney apartment site adjoining the EVE development in Erskineville.
Set in inner city Sydney's Erskinville, it sold for more than double the purchase paid less than a year ago.
<div class="article__content">
<div class="parsys parsys-article-content-top">
<div class="cq-article-content-paras section">
The offshore-backed B1 Group has paid just under $70 million to secure the 1.2 hectare site which could accommodate around 230 units. 
Despite the sale, the Melbourne-based Fridcorp says it is "no site-flipper" with fresh plans held by Sydney managing director Paul Fridman.
It is only the second project site Fridcorp has sold in its two decades. Its Melbourne projects often saw joint partners with previous alignments including Trafalgar Corporate and the Crawford Group. 
 "We are committed to our growth in the Sydney market and together with Wingate have seen great success from the launch of Eve in Erskineville and will continue to explore more opportunities here," he said. 
</div>
<div class="cq-article-content-media section">Fridcorp bought the two parcels of land in October last year. </div>
<div class="cq-article-content-media section"> </div>
<div class="cq-article-content-media section">Together with the site where EVE is being built it paid $56 million, with the recently sold unbuilt EVE site accounting for nearly half of that sales figure. </div>
<div class="cq-article-content-paras section">
<a href="/expert-insights/buying/eve-in-erskineville-secures-100-million-in-sales">EVE was Fridcorp's first Sydney development</a>, a sell-out success with all 197 apartments sold off the plan.
The $145 million development is due for completion next year. 
The Sydney-based B1 Group, headed by Anne Bi, already has a number of existing Sydney residential projects but was keen for an inner-city site. 
The deal was brokered by McGrath Projects agents Steven Chen and Michael Chen who negotiated the sale for their buyer within a 48-hour period.  
Paul Ephron, who heads the sites &amp; acquisitions within McGrath Projects, had the off-book listing.
The northern part of the site has approval for 112 apartments and 17 townhouses and the section at the rear comes with an approval pending for 93 apartments. 
</div>
<div class="cq-article-content-paras section">
Fridcorp’s first Sydney project, Eve, included one, two and three bedroom apartments, situated on the corner of Eve and Macdonald Streets.
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<div class="parsys-article-content-bottom parsys">
With interiors from Hecker Guthrie and dKO Architects, <a href="https://www.evebyfridcorp.com.au/" target="_blank">Eve</a> is 250 metres from the train station and 10 minutes to the CBD.
It includes views of Sydney Park to the CBD, wide frontages and balconies, storage space and a communal rooftop leisure deck with private central courtyard.
One bedroom, one bathroom apartments were priced from $525,000; two bedroom, one bathroom apartments from $750,000; two bedroom, two bathroom from $780,000; three bedroom, two bathroom from $1.1 million. 
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jchancellor-FAypfDUnLy

Fridcorp sells empty half of Eve, Erskineville project site

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Commercial estate agents Burgess Rawson have cleared $47 million in one afternoon of property sales, with the highest being a $5,920,000 NSW Government sale in Hornsby with a yield of 1.89%.
The highest figure paid for a non-government client was for an Aldi supermarket in Dural, with a $4,600,00 sale representing a yield of 5.92%.
<a href="/images/2015/07/01/240615.jpg" target="_blank">Click to enlarge</a>
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mick.cee-iDmgDDAmu8

Commercial agents Burgess Rawson clear $47m in one afternoon 

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The Australian Government has implemented changes today to the complying investment framework for the popular Significant Investor Visa (SIV) program in order to direct investment away passive investment towards investment in innovation and industrial development.
The changes to the investment framework commencing from 1 July 2015 will require a visa applicant to invest at least $5 million over four years in select investments.
Investment in residential real estate will only be permitted to comprise 10% of the $5 million minimum investment amount, although investors may invest in excess of this outside of this limit.
A new class of investment visa, the Premium Investment Visa (PIV) program has also been introduced on 1 July 2015.
Unlike SIV which requires investor to invest $5 million into complying investments for a minimum of four years before being eligible to apply for a permanent visa, PIV offers a more expeditious, 12 month pathway to permanent residency.
It is established to attract talented entrepreneurs and innovators and access to the program will be by invitation of the Australian Government.
An applicant under the PIV will be required to invest a minimum of $15,000,000 in managed funds or direct investment in ASX listed assets, government or semi-government bonds or notes, corporate bonds or notes, proprietary limited companies, real property in Australia (excluding residential property), annuities or government approved philanthropic donations. 
Solicitor Michael Sing at <a href="https://rostroncarlyle.com/" target="_blank">Rostron Carlyle</a> says the PIV represents an "outstanding opportunity for successful entrepreneurs to invest and secure permanent residency in 12 months, without having to live here, regardless of age and English language ability."
The Government announced that the scope of eligible investments must be an Australian managed fund(s) or direct investment in:
<ul>
<li>Australian securities exchange-listed assets.</li>
<li>Australian government or semi-government bonds or notes.</li>
<li>Corporate bonds or notes issued by an Australian exchange-listed entity (or wholly owned subsidiary of the Australian listed entity) or investment grade rated Australian corporate bonds or notes rated by an AFS licensed debt rating agency.</li>
<li>Australian proprietary limited companies.</li>
<li>Real property in Australia excluding residential property.</li>
<li>Deferred annuities issued by Australian registered life companies.</li>
<li>State &amp; Territory government approved philanthropic donation.</li>
</ul>
The investment may be made into one or more of these categories at any time in the qualifying period of 12 months.
Direct Investment in Commercial Property 
Because non-residential property is a qualifying investment category, the purchase of commercial property such as a shopping centre or industrial development over $15 million will allow an application for the PIV as a direct investment.
Foreign Investment Review Board (FIRB) approval is usually able to be obtained for any commercial property up to $54 million in any event, he said.
Cash is to be no more than 20% of a fund’s net assets and derivatives are to be used for risk management purposes only.
Direct investment into residential real estate is excluded and indirect exposure through investment vehicles is to be restricted to less than 10% of a vehicle’s net assets. Investors can of course invest in residential real estate, subject to FIRB rules, but this investment will not be assessed for PIV purposes.
Loan back’ arrangements, where the investment is used as collateral by the applicant, are excluded.
The PIV applicants will be eligible for Permanent Residency after only 12 months of maintaining their investment.
"At this stage, there are no minimum residency requirements to be complied with under the PIV: the applicant does not have to live in Australia at all for the 12-month period.
"This is a new visa, and the process for this is still being developed," he said.
"This is a new opportunity specifically for entrepreneurial investors to secure a visa as a bonus to investing in Australia.
"For Australian developers, it’s also an opportunity to offer another benefit or sales feature to prospective investors or joint venture partners seeking to acquire sites or equity participation."
Legitimate source of investment funds is still required to be proved. 
Michael Sing noted that the third party penalties for assisting in breaching FIRB laws make it important for agents and brokers to also be aware of the new rules.
 
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SIV and PIV start golden opportunity anew from July 1, 2015

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The McGowan family have listed the 1892 Fitzroy Hotel premises in Merriwa with $450,000 hopes.
There have been renovations by the McGowans since they bought the historic upper Hunter Valley pub in 2007 for $430,000.
Having ceased trading in 2007, <a href="https://www.realestate.com.au/property-other-nsw-merriwa-111319883" target="_blank">to reopen the hotel</a> for business the interior will need to be fully renovated.
There are detailed architectural plans available illustrating the potential for two public bars on different levels, a restaurant with indoors and outdoors dining space, along with a function room, games area and beer garden.
The major external renovations were designed by Daryl Jackson Alastair Swayne Architecture, completed on the exterior of the building in 2011.
The property sale includes a current liquor license. It has been listed by Heidi Inder at Rockwall Livestock and Property. Merriwa is a country town nestled in the Upper Hunter with a population of 2,500. The town was established in 1839 initially servicing the agricultural industries in the area including sheep, cattle, grain and more recently olives, vineyards and herbs.   Over the last eight years Merriwa has also increasingly becoming a service centre for the many mining companies..
The sandstone hotel was built for James Ell, the then co-owner of The Royal Mail and Passenger coaches which departed from the hotel on a daily basis for Gungal, Muswellbrook and Denman. 
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Fitzroy Hotel, Merriwa listed

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The Swiss private equity firm Sumner Capital has bought more on the Walsh Bay, Sydney waterfront, buying Pier 8 &amp; 9 prior to scheduled auction for $8.25 million.
The strata lot - 1000 square metres over two storeys - is the largest commercial development on the Hickson Road heritage precinct.
The sale price reflects a yield in the mid 6 per cent range through Knight Frank and LJ Hooker who marketed the property on behalf of Michael Williams' W Property. 
One of only three commercial lots, the building is leased to architects Jackson Teece, Deluxe Australia and design practice HASSELL.
Sumner already owns other lots at Walsh Bay, which is on the northern fringe the new $9 billion Barangaroo development.
The firm has provided the opportunity for investors who want to own Australian real estate since 2008.
<div class="article__content"> </div>
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Walsh Bay buy by Sumner Capital

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An olive plantation in South Australia’s Murray Mallee region is being offered for sale under instructions from BRI Ferrier through CBRE Agribusiness.
Lameroo Station Olives is a mixed horticulture, cropping and livestock operation spanning 2,129 hectares near Pinnaroo, close to the Victorian border.
Lameroo Station Olives comprises properties known as 661 Karte West Road, Karte; 71 Netherton Road, Peake; and 5 Chandos Road, Pinnaroo. 
The substantial aggregation includes a 437 hectare olive orchard planted to various varieties, including Frantoio, Kalamata, Banea, Piqual and Manzanillo. 
Selling agent Phil Schell said 2,881 megalitres of water entitlements support the large scale horticulture operation
Registrations of Interest close August 7.
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BRI Ferrier list Murray Mallee olive plantation

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GPT Group will offer free wi-fi to shoppers at its Melbourne Central and Casuarina Square retail centres in exchange for their data through a partnership with Australian retail analytics startup SkyFii.
GPT Group had previously rolled out the wi-fi offering at two of its other centres - MLC Centre in February this year and Rouse Hill Town Centre last August.
SkyFii’s technology tracks the movements and behaviour of registered and unregistered users through in-store networks.
Data collected through the company’s platform can be integrated with a client’s point of sale or CRM systems, while targeted messages can be sent to customers in real-time through wi-fi, SMS, email or app-based push notifications.
The data collected through the service will be anonymous in most cases.
“It allows [GPT] to provide a reliable, efficient and secure service to its customers by giving them access to a state-of-the-art wi-fi network. It makes shopping more pleasant and provides retailers with a key benefit for retailers being increased time spent in a centre,” Skyfii chief executive Wayne Arthur told itnews.com.au.
Wayne Arthur holds the prospect of rollouts across GPT's 16 shopping centres .
SkyFii, which was founded in late 2011, offers its services across Brazil, South Africa, Indonesia and Australia.
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GPT shoppers getting free wi-fi

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Figures from the Rental Bond Board appeared to show that the supply of rental accommodation was below growth trends for NSW. With this is mind what do the median rental statistics collected by the board reveal? 
A number of interesting trends emerge. In 2010-11 the areas with the highest median rentals were the South Sydney and Upper North Shore. However between 2011-12 up until the most recent figures for 2013-14 it has been the Eastern Suburbs that consistently records the highest median rents. 
In the Board’s figures the Eastern Suburbs covers a very diverse area across postcodes 2021-2036.
According the Board’s figures the median rental across this area is $610, and while rents have been on the rise, given the area’s diversity across suburbs like, Paddington, Moore Park, Little Bay, East Gardens, Vaucluse, Watsons Bay and Bondi the range of rents would be wide-ranging.
However what is more interesting is the general trends of median rents across the metropolitan area between 2010-11 and 2013-14, interesting because the figures show, somewhat surprisingly that the growth in median rents has been slowing. In 2010-11 the increase was 4.5% and in 2011-12 4.3%. However in 2012-13 the figure fell below 4% to 3.1% and in 2013-14 the increase was 2.9%. 
Over the same period there have been suburbs where median rental growth in the top five areas has been both above and less than the metropolitan figures. Looking at the Board’s figures here are some of the notable figures.
Rental Growth
All of the figures following are taken from figures published by The Renal Bond Board in its annual report.
In 2010-11 median rental growth across metro Sydney was 4.5% at $460.00, with some notable variations among the top three postcode groupings as follows: 
<ul>
<li>Eastern Suburbs, Lower North Shore &amp; Mosman/Cremorne all increase by 10% to $550.00</li>
<li>South Sydney &amp; Upper North Shore grew by 9.8% to $560.00</li>
<li>
Inner Sydney 5.7% to $560.00 
</li>
</ul>
In 2011-12 median rental growth was 4.3% to $480.00, and the top three postcode groupings were:
<ul>
<li>Many/Warringah grew by 5.8% to $550.00</li>
<li>Eastern Suburbs grew by 5.5% to $580.00</li>
<li>Lower North Shore grew by 4.5% to $575.00</li>
</ul>
Across this period it is notable that in three areas – Inner Sydney, South Sydney and Upper North Shore the Board’s figures showed no growth.
In 2012-13 rental growth fell to 3.1% to $495.00, the top three postcode groupings were:
<ul>
<li>Inner Sydney and South Sydney at 5.4% to $590.00</li>
<li>Eastern Suburbs at 3.4% to $600.00</li>
<li>Lower North Shore 1.7% to $585.00</li>
<li>Upper North Shore 1.7% to $570.00</li>
</ul>
Again it was notable that the Inner west showed no growth.
The most recent figures for 2013-14 growth fell again to 2.9%,a cross the metro region the median rental was $510.00 and the top three groupings were:
<ul>
<li>Inner West grew by 4.3% to $575.00</li>
<li>Many/Warringah at 3.4% to $580.00</li>
<li>Mosman/Cremorne at 2.5% to $590.00</li>
</ul>
In the same period rents on the Lower North Shore, according to the Board’s figures dropped by (0.9)%, which was the only negative result over the total period between 2010-2014.
Supply Catches Up
The big increases in 2010-11 (at 10% in some areas) have not been repeated, and this would appear to reflect more properties in particular apartments coming onto the market along with a rise in the number of investment properties being sold.
Currently the gap between the least and most expensive market is modest, based on median rentals $35.00 with Fairfield/Liverpool and Canterbury/Bankstown the most affordable and the Eastern Suburbs the most expensive market followed closely by the Inner Sydney and South Sydney, with both theses areas seeing a big increase in apartment developments.
It is also interesting to note that the gap between the least and most expensive rental markets has remain constant, although since 2010-11 the Upper North Shore has lost it’s spot as among the most expensive rental markets.
However we need to go to the country median rentals to see the most volatile figures, because in 2010-11 rents in Mudgee grew by 19.5% and in the following year by 14.1%, but in 2013-14 rents fell by (20%), which would largely reflect the changing fortunes of the mining industry. 
For the metro Sydney market, the demand for rental accommodation and rents continue to rise, although the patterns are not uniform. Some areas of the market have and will continue to see new developments added both as apartments and houses in new estates, as these remain popular with investors. 
The details and values outlined come from a very big pool of tenants as the Rental Bond Board looks after more than 726,337 tenancy bonds, and so the figures are a valid reflection of the wider rental market.
Given all of the activity across our property market in the last 12 months the Board’s report for 2014-15 should reveal some interesting trends.
<div class="entry-content">
To read the final part of Peter's two-part post, click here.
Peter Chittenden is managing director for residential of Colliers International. He can be contacted <a href="https://www.projectagenda.com.au/" target="_blank">here</a>.
</div>
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pchittenden-eLqUUC8TWW

NSW rental supply below growth trends: Peter Chittenden

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The most common “common denominator” of boom property markets over time is an elevated level of spending on infrastructure.
It’s not coincidence that Sydney has been having its strongest market in 12 years at a time when the level of infrastructure development is the highest it’s been in 12 years. It’s not the only reason but it has played a significant role.
And as Sydney starts to shows signs of beginning the fade-out that’s inevitable after three years of heightened activity and prices, investors seeking long-term growth are well advised to follow the infrastructure trail.
Real estate that lies in the path of progress usually grows at superior rates.
The property cycle in Sydney has reached the point where investors need to be extremely careful with their locational choices.
The Sydney market has been percolating for three years and most locations have recorded significant price growth, including double-digit annual increases in median prices across much of the Sydney metropolitan area.
This scenario has meant that owning real estate almost anywhere in Greater Sydney has delivered good capital growth.
But it will not be so simple moving forward. There are already indications that the Sydney boom is beginning to fade. It was inevitable that this would occur and it was most likely to happen in the third year of heightened market activity – i.e. during 2015.
Our latest analysis of sales data shows that there are fewer growth suburbs (in terms of sales activity) than before, which is an indicator that the boom may be fading. I do not expect any dramatic decline, but the high level of price growth of the past 2-3 years is unlikely to continue.
I note that other research sources, including BIS Shrapnel and National Australia Bank, have also forecast that the rate of price growth in Sydney will decrease over the next year or so.
Investors now need to be selective to achieve capital growth – and the best strategy is to focus on locations where spending on new infrastructure, particularly transport infrastructure, will be a catalyst to real estate demand. 
Currently, the outer reaches of the metropolitan area are the market leaders in Sydney. Penrith, Camden and Campbelltown – as far as you can get from the CBD and still be in Greater Sydney – have the most upwardly-mobile markets.
Some Top End suburbs remain vibrant. But, increasingly, we are seeing the biggest growth in the middle and bottom tiers of the market. This continues a process which evolved throughout 2014, with the millionaire suburbs a little less prominent and the more affordable areas rising. 
Western areas are prominent, including the far south-west of the Sydney metropolitan area where both the Campbelltown and Camden LGAs still have numerous growth suburbs, the Liverpool LGA and the Rouse Hill precinct in the far north-west. 
These are all areas which will benefit from infrastructure spending, including projects currently under construction and those in the planning stages.
In some instances, the level of new transport infrastructure is quite exceptional. Take the north-west precinct centred on the emerging growth region of Rouse Hill. This area is an obvious and direct beneficiary of the $9 billion North west Rail Link, now under construction. 
Currently the main transport link to this precinct is the M2 motorway, where a significant upgrade was recently completed.
Other accessibility improvements are being made with the upgrade of Schofields Road,linking Windsor Road at Rouse Hill to Railway Terrace at Schofields. The two-lane rural road will be transformed into a major east-west connection between Windsor Road and Richmond Road over three stages costing about $200 million.
Stage one opened to traffic in July 2014. Stage two should be complete in early 2017 while stage three remains in the planning phase.
Richmond Road has also undergone a recent $46 million upgrade.
The north-west region of Sydney will benefit from the M9 Orbital road, which will connect it to the far south-west of Sydney. The M9 will link Camden in the south-west to Penrith in the west and continue north to Windsor, a near neighbour of Rouse Hill.
The link is in the early stages of planning, with $4.6 million set aside in the FY2015 State Budget for a feasibility study on the construction of the M9.
The north-west region will also benefit from the NorthConnex motorway, the $2.6 billion project designed to address the missing link between the southern end of the M1 Pacific Motorway at Wahroonga and the M2 motorway at its Pennant Hills Road interchange.
Spanning 9km, NorthConnex will be the longest road tunnel project in Australia. Construction of the tunnel is expected to be completed in 2019. It was announced in February 2015 that Lend Lease had won the contract to construct the motorway.
These infrastructure projects are part of the mix that will make the north-west a growth market long-term, beyond the current boom.
TERRY RYDER is the founder of <a href="https://www.hotspotting.com.au/" target="_blank">hotspotting.com.au</a>. You can <a href="https://mailto:ryder@hotspotting.com.au" target="_blank">email him</a> or follow him on <a href="https://twitter.com/hotspotting" target="_blank">Twitter.</a> 
Terry was recently joined by Property Observer editor at large Jonathan Chancellor for a webinar on why research is the key to successful property investing in 2015. You can download slides and audio from the webinar here.
 
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terryryder-YECXbqmri2

Property investors must follow the infrastructure trail: Terry Ryder 

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Newly approved housing supply has moved to new record heights, with 214,331 dwelling approvals recorded nationally over the past year.
The proportion of these approvals which were for units is also at a record high, accounting for 45.9% of all approvals.
The surge in dwelling approvals has coincided with very low interest rates and surging demand from the investment segment of the market. 
Across the combined capital cities more than half of all dwelling approvals are for units and in each capital city (except Adelaide, Perth and Hobart) more than 50% of approvals over the past year were for units. 
Data from the 2011 Census shows that across the country units are more than twice as likely to be rented as houses. This would indicate a clear preference from the investment segment which is currently so active, for units over houses.
While the number of new dwellings being approved is significant, it is worthwhile examining on a smaller scale the regions where the new housing supply is being approved. Looking at dwelling approvals across SA4 regions of the country, we have listed the top 20 regions for approvals for both houses and units over the 2014-15 financial year to April 2014.
For houses, the region with the greatest number of approvals over the financial year to-date was South East Melbourne (which includes council regions such as Casey and Cardinia) with 4,874 approvals. Looking at the top 20 list published, 15 of the 20 regions listed are located within capital cities with only Geelong, Sunshine Coast, Gold Coast, Latrobe-Gippsland and Bunbury in non-capital city areas. The top 20 list shows 3 NSW regions, 6 regions from Vic, 5 regions from Qld, 1 SA region and 5 regions from WA.
<a href="/images/2015/06/30/2015-06-22--01--house-approvals-2014-15-financial-year-SA4-regions.jpg" target="_blank">Click to enlarge</a>
 <img src="/images/2015/06/30/2015-06-22--01--house-approvals-2014-15-financial-year-SA4-regions.jpg" alt="">
Turning to unit approvals, the list highlights the magnitude of approvals in Inner Melbourne with 12,516 approvals so far this financial year.
This region is already seeing a huge volume of new construction and the pipeline just keeps growing.
To put the volume of approvals in perspective, Brisbane Inner City with the second highest number of approvals (5,808) has less than half as many unit approvals as Inner Melbourne.
The Gold Coast is the only non-capital city area listed amongst the top 20 regions for unit approvals. Looking at the state-by-state breakdown there are 6 NSW regions listed, 6 Vic regions, 4 Qld regions, 1 SA region, 2 WA regions and 1 ACT region.
<a href="/images/2015/06/30/2015-06-22--02--unit-approvals-2014-15-financial-year-SA4-regions.jpg" target="_blank" style="line-height: 1.3em;">Click to enlarge</a>
<img src="/images/2015/06/30/2015-06-22--02--unit-approvals-2014-15-financial-year-SA4-regions.jpg" alt="">
 
With the pipeline of construction activity remaining high and much of it high-density development, the multiplier effect from heightened construction activity should continue for a number of years. 
Of course the biggest hurdle may start to be achieving necessary presales for these projects commence particularly given that many financial institutions are now starting to tighten their lending practices on the request of APRA. 
With a particular focus on investment mortgages this may have an impact on demand from investors who are seemingly a key driver of the surging demand for inner city units.
Cameron Kusher is RP Data’s senior research analyst. Follow Cameron on Twitter <a href="https://twitter.com/cmkusher" target="_blank">here</a>. 
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