Melbourne developer <a href="https://www.apartments.com.au/developers/pdg-corporation">PDG</a> has unveiled its vision for the former Water Tank Site in Ivanhoe, which would see it transformed into a thriving residential neighbourhood, complete with a 2000 sqm public park.&nbsp;

Delivered in partnership with <a href="https://www.apartments.com.au/developers/development-victoria">Development Victoria</a>, the proposal would transform the prominent corner of Bell Street and Upper Heidelberg Road into a connected community comprising two residential buildings, generous public open space and shared amenities.&nbsp;

The vision includes 287 one, two and three-bedroom apartments, with a minimum of 10 per cent allocated to affordable housing, alongside a 2,000-square-metre publicly accessible park featuring a children's playground, activity lawn, indigenous planting, timber climbing logs, seating areas and a rock gathering circle.&nbsp;

Designed by <a href="https://www.apartments.com.au/architects/dko-architecture">DKO Architecture</a>, the proposal draws on the site's industrial heritage, using a robust architectural language that references the former water tank through expressive structural elements and durable, self-finished materials.&nbsp;

Extensive landscaping has been woven throughout the development, creating a living landscape that strengthens connections to nature while responding sensitively to the surrounding neighbourhood. Two residential buildings ranging from three to 12 storeys are linked by a landscaped forecourt, creating a welcoming arrival experience and improving pedestrian connections through the site.&nbsp;

Residents would also enjoy more than 1,000 square metres of communal open space, including barbecue and dining facilities, vegetable gardens, landscaped seating pavilions and a dedicated coworking space.&nbsp;

PDG Founder and Managing Director Vince Giuliano said the vision reflected an opportunity to transform one of Ivanhoe's most recognisable sites into a place that balanced housing, community and landscape.&nbsp;

"This is an opportunity to reimagine an important site and create a neighbourhood that delivers lasting benefits for Ivanhoe," Giuliano said.&nbsp;

"We're creating much more than new homes. The vision brings together affordable housing, quality architecture, meaningful public open space and shared places that encourage people to connect, while respecting the site's history and its place within the local community."&nbsp;

Development Victoria’s Executive General Manager Precincts, Niall Cunningham, said the application is an important step for the government-owned site.&nbsp;

“This is about delivering more homes in a well-connected location, along with public open space that the Ivanhoe community will benefit from for years to come,” Cunningham said.&nbsp;

PDG was selected as development partner in late 2025 following a competitive tender process.&nbsp;

A planning submission for the project is currently being progressed through the Victorian Government's Development Facilitation Program, with positive early engagement from both Banyule Council and the Department of Transport and Planning.

Joel Robinson

PDG unveils plans to transform landmark Ivanhoe Water Tank Site

Shane Wilkinson's <a href="https://www.apartments.com.au/developers/pace-development-group">Pace Development Group</a> has lodged plans for a major residential precinct on the former Presentation College site in Windsor, with an eight-building masterplan ultimately rising to 10 storeys.

The proposal at <a href="https://www.apartments.com.au/new-apartments/167-dandenong-road-windsor-vic-3181">167–187 Dandenong Road</a> spans a substantial 19,027 sqm site and is being progressed across six stages, with the first residential stages comprising 170 homes across four buildings designed by <a href="https://www.apartments.com.au/architects/cera-stribley-architects">Cera Stribley</a>.

Stage Two will deliver the bulk of the initial housing, with Building A comprising 81 apartments and Building B 49 apartments, both rising to six storeys.

Stage Three will deliver a further 40 homes. The heritage Nagel Building, identified as Building C, will be converted to 12 dwellings, while a new five-storey Building D will comprise 28 apartments at the Hornby Street and Dandenong Road corner.

The 170 homes across Stages Two and Three will include a mix of one, two and three-bedroom apartments, including townhouse-style dwellings.<img alt="First look: Pace plans landscaped housing precinct on former Windsor school site" data-entity-type="file" data-entity-uuid="83c56e3e-dfb9-4e12-b172-c3f18513ec32" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Article%20Feature%20Image%20%28Grid%29_9.png?VersionId=xRcRpSZsxX.UX_NDDGcRZktw7HVrzx7u" />

&nbsp;

The longer-term masterplan points to considerably greater density across the site.

Indicative plans show Building E accommodating around 80 dwellings across up to 10 storeys, while Building F is earmarked for around 120 dwellings and also up to 10 storeys. Building G is planned to range between four and 10 storeys, however its apartment yield is yet to be determined. That means the masterplan currently identifies at least 370 dwellings across Buildings A to F before any apartments within Building G are counted.

Across the 1.9-hectare site, that represents an indicative density of at least 194 dwellings per hectare, with the final figure to increase once the yield of Building G is established.

Pace is pursuing the project through the Victorian Government's Development Facilitation Program, with Urbis lodging a combined Section 96A planning scheme amendment and planning application on behalf of the developer, which secured the site earlier this year.

The application seeks detailed approval for Stages One, Two and Three, alongside approval of the broader masterplan framework that will guide the later residential stages. Stage One will see an existing heritage building adaptively reused for a wellness and fitness-related facility, while the broader precinct will retain several significant heritage buildings and established trees as part of the redevelopment.

A minimum 10 per cent affordable housing contribution is proposed across both the initial residential stages and the later masterplan stages, delivered through a discounted rental model.

The project comes immediately after a major change to the site's planning controls.

The site was rezoned to the Housing Choice and Transport Zone through Planning Scheme Amendment GC285, gazetted on July 22, 2026, and now sits within the inner catchment of the Windsor Station precinct under the State Government's Train and Tram Zone Activity Centres Program.

While the new controls identify large sites within the inner catchment for buildings of up to six storeys, Pace's masterplan pushes height to 10 storeys in parts of the site, with the taller buildings concentrated toward the centre and along the Sandringham railway corridor.

Lower-scale built form is proposed toward the site's more sensitive residential and heritage edges, with Buildings A and B generally stepping from three storeys at their interfaces to six storeys at upper levels.

Cera Stribley's masterplan breaks the development into a collection of separate buildings rather than a continuous built form, with landscaped spaces, new pedestrian links and a new publicly accessible road forming part of the precinct.

The planning report says the development will create new pedestrian connections to Elm Place and along the railway corridor, as well as a new publicly accessible road linking Elm Place with Dandenong Road. The proposed buildings will occupy around 54 per cent of the site, leaving a substantial portion available for landscaping, communal areas and permeable surfaces.

Urbis said the scale of the project reflected the site's strategic location close to Windsor Station, tram services and the Chapel Street Activity Centre, with the former school campus identified as a significant opportunity to increase housing supply on an underutilised inner-Melbourne site.

&nbsp;

First look: Pace plans landscaped housing precinct on former Windsor school site

<a href="https://www.apartments.com.au/developers/jl-place">JL PLACE</a>'s Veil Brighton is approaching its final months of construction, with the nine-townhouse development at 17 Rooding Street expected to complete in December 2026.

The milestone is bringing the boutique project closer to becoming a finished part of the <a href="https://www.apartments.com.au/developments/brighton-vic-3186">Brighton</a> streetscape, with much of Brighton's everyday amenity within a short walk.

Palace Cinema, Coles Supermarket and North Brighton Station are all around five minutes on foot from <a href="https://www.apartments.com.au/new-townhouses/veil-brighton-17-rooding-street-brighton-vic-3186">Veil</a>, alongside numerous cafés, restaurants and bars. The station provides a direct rail connection toward Melbourne's CBD, while Bay Street and the wider Brighton retail and dining network add to the range of services accessible without relying on a car for every trip.

"The location was fundamental to the project. Brighton is an established suburb where many buyers already have strong connections to the area and want to remain close to the people, places and amenities that form part of their everyday life," the developer said.

"Veil sits in a highly walkable part of Brighton, with a Walk Score of 90/100."

For buyers looking to right-size within Bayside, that level of walkability adds to the appeal of a more manageable way of living. Everyday shopping, dining, entertainment and public transport can be accessed without relying on the car for every trip, while residents remain connected to the places and routines that make Brighton familiar. It allows buyers to simplify day-to-day life without giving up the convenience, amenity and connections they already value.

[smartcode_project:default project_id=7877 project_image_fid=355754]

As completion approaches, the architecture, landscaping and material palette are progressively becoming visible on site, giving prospective purchasers a clearer view of the finished development beyond its plans and renders.

Veil comprises nine townhouses, predominantly three-bedroom homes with between 2.5 and 3.5 bathrooms, two car spaces and, depending on the residence, study areas and private outdoor space. Selected homes include a bedroom on the ground floor.

Veil occupies a middle ground between detached housing and apartment living, retaining private gardens, storage and secure parking within a more manageable residential format.

<a href="https://www.apartments.com.au/architects/schmidt-pang-architects">Schmidt &amp; Pang</a> designed the architecture around natural light, ventilation, privacy and practical use of space. From Rooding Street, the façade has been composed to read as a cohesive residential building rather than nine individual townhouses, with landscaping by <a href="https://www.apartments.com.au/landscape-architect/john-patrick-landscape-architects">John Patrick Landscape Architects</a> integrated throughout the site.

Inside, natural stone, oak flooring, integrated joinery and brushed nickel finishes establish a restrained material palette, while kitchens include Miele appliances and substantial storage such as pantries. Walk-in robes and dedicated study spaces have also been incorporated across the collection.

[smartcode_project:default project_id=7877 project_image_fid=355852]

The project team said the planning of the homes has been informed by how the spaces function for both daily routines and larger gatherings.

"Our new homes owners at Veil have enjoyed the attention to detail in creating efficient layouts that use every space well. Hosting Christmas lunch and large family gatherings is an ease when care is taken to consider how people really live and entertain."

Private landscaped gardens extend the living spaces outdoors, while secure basement parking and bicycle parking are provided below. The homes have also been designed to achieve a 7-star energy rating, supported by double glazing, high-quality insulation, natural ventilation, LED lighting, water tanks and water-efficient fittings. Each residence is backed by a 10-year building guarantee.

Veil is being built by <a href="https://www.apartments.com.au/builders/jeniton">Jeniton</a>.&nbsp;Limited-time stamp duty savings are also currently available on selected purchases at Veil, adding another consideration as the project moves toward completion.

[smartcode_project_cta:default project_id=7877]

Veil Brighton nears completion in one of the suburb's most walkable pockets

<a href="https://www.apartments.com.au/developers/mosaic-property-group">Mosaic Property Group</a> has recorded 134 sales worth just over $400 million in two months of pre-release activity at The Riversdale, as the developer brings its $750 million South Brisbane riverfront project to the broader market.

The sales represent more than 60 per cent of the project's 213 apartments, with Mosaic reporting the majority of purchasers have been local owner-occupiers and downsizers.

<a href="https://www.apartments.com.au/new-apartments/the-riversdale-by-mosaic-south-brisbane-91-montague-road-south-brisbane-qld-4101">The Riversdale</a> will rise 39 storeys from its north-facing site at 91 Montague Road, delivering a mix of two, three and four-bedroom apartments alongside a collection of Mosaic's premium Masterpiece Series Sky Homes.

[smartcode_project:default project_id=151614 project_image_fid=371872]

The early buyer response comes ahead of the wider evolution of the northern end of Montague Road, where The Riversdale will be one of the first major residential projects delivered within an emerging riverfront precinct.

Directly adjoining the development is a planned 7.1-hectare mixed-use precinct, set to introduce new residences, parkland and public realm along the river's edge. The Riversdale's position directly on the Brisbane River gives it a relationship with the waterfront that Mosaic says cannot be replicated by future buildings within the precinct.

The site is also the result of a years-long pursuit by Mosaic. The developer first earmarked the <a href="https://www.apartments.com.au/developments/south-brisbane-qld-4101">South Brisbane</a> property in 2018, reflecting what Founder and Managing Director Brook Monahan has described as a deliberately patient approach to acquiring development sites.

[smartcode_project:default project_id=151614 project_image_fid=372083]

"We aren't opportunistic," Monahan previously told Apartments.com.au.

"Every site purchase is carefully considered. As seen with Kangaroo Point and South Brisbane, it can take years to eventuate. There are sites we're looking at now that we may not secure for several years."

Designed in collaboration with <a href="https://www.apartments.com.au/architects/bureauproberts">Bureau Proberts</a>, The Riversdale has been shaped around the qualities of the riverfront site, with apartments oriented to capture northern light and uninterrupted Brisbane River views.

Generous floorplans and expansive balconies extend the living spaces towards the river, while natural materials and a restrained interior palette have been selected with longevity in mind.

[smartcode_project:default project_id=151614 project_image_fid=371890]

Residents will have access to a level of amenity more commonly associated with world-class hotels and private members' clubs, with almost 3,000 sqm dedicated to wellness, connection, recreation and everyday convenience.

At ground level is a business lounge, private meeting rooms and dedicated workspaces. Mid-tower is a wellness sanctuary featuring magnesium hot and cold plunge pools, sauna, steam room, infrared therapy facilities, a Pilates and yoga studio, and a commercial-grade gymnasium.

Crowning The Riversdale is a rooftop featuring a 35-metre swimming pool with lap lane and spa, outdoor dining and seating terraces, firepit lounges and views of the city, river and Mount Coot-tha.

A private members' club-inspired retreat offers private dining rooms, a whisky lounge, media rooms and immersive entertainment experiences. Completing the amenity offering are two hotel-style guest suites and a resident-exclusive electric vehicle fleet and car-share program.

[smartcode_project:default project_id=151614 project_image_fid=371877]

The Riversdale sits at the northern end of Montague Road between South Bank and West End, around 1.3 kilometres from the Brisbane CBD, providing access to the city's major cultural, dining and recreation precincts.

It becomes Mosaic's largest Brisbane project to date and adds to a pipeline already under construction across the city.

In Brisbane, the developer is currently delivering The Bedford and The Carter at Kangaroo Point, both of which are approaching sell-out, with a further four projects being delivered on the Gold Coast. Mosaic has completed more than $2 billion in projects since 2012 and has a further development pipeline exceeding $2 billion across South East Queensland.

Early works are underway at The Riversdale, which will be delivered by Mosaic's in-house construction division. Completion is anticipated in late 2029, with remaining apartments priced from $1.98 million.

[smartcode_project_cta:default project_id=151614]

Mosaic records more than $400m in two months at South Brisbane's The Riversdale

Lender, fund manager and apartment developer Princeton has completed <a href="https://www.apartments.com.au/buildings/marque-rockdale-602-608-princes-highway-rockdale-nsw-2216">Marque Rockdale</a>, the first new apartment development in South Sydney to provide its owners with a 10-year Latent Defects Insurance policy, the most comprehensive insurance available for a new apartment building.

The policy has been a key consideration for prospective purchasers of the 58 one-, two-, and three-bedroom apartments, strategically located between&nbsp;Rockdale Plaza and Rockdale Station.&nbsp;

Buyers have also been drawn to the fact that it is one of few new apartment developments delivered in the suburb in the last 10 years, and the only one located on Princes Highway to be set well back from the street to reduce noise. There's also a communal rooftop, a rarity in the suburb, complete barbecue facilities, landscaped seating areas, a children's play zone and herb gardens.

[smartcode_project:default project_id=136442 project_image_fid=374084]

Ray White Projects’ Matt Otway said buyer enquiry reflected the increasingly diverse and cosmopolitan population that has made Rockdale home.

“We’re seeing strong interest from a broad mix of buyers, including young professionals and people who have rented in Rockdale and the surrounding suburbs and now see Marque as an opportunity to buy a brand-new apartment in an area they already know,” Otway said.

“Proximity to the CBD and Sydney Airport is another key advantage particularly for buyers working in these locations who want the added convenience of living close by.”

Investors have also been attracted to the project, with rental yields of more than five per cent, which is considered a strong result for the Sydney market.

[smartcode_project:default project_id=136442 project_image_fid=374090]

Adding another layer to the buyer proposition is Marque's 10-year Latent Defects Insurance policy from Resilience Insurance, making it the only new apartment development in Rockdale to offer the cover.

The policy protects apartment owners against major structural and waterproofing defects for 10 years following completion, giving Marque purchasers cover until early 2036 at no additional cost.

The likelihood of defects emerging has also been mitigated through the Technical Inspection Service (TIS), which saw independent experts inspect the building at various stages throughout construction to identify potential issues during the build, rather than after the fact.

SDSS, which provided the TIS, consistently ranked the construction quality at Marque, undertaken by iCIRT-rated builder Coplex, among the best across its extensive portfolio of projects.

[smartcode_project:default project_id=136442 project_image_fid=374088]

Otway said the LDI had become a major drawcard for buyers, particularly given Rockdale has seen relatively little new apartment development over the past decade.

"Rockdale hasn't had a lot of new apartment buildings in the last decade, and has never had a project with 10-year defect insurance," Otway said.

"Marque presents a truly rare opportunity at an affordable price point, so well connected to the Sydney CBD."

One-bedroom apartments at Marque start from $735,000.

[smartcode_project_cta:default project_id=136442]

Marque Rockdale completes as South Sydney’s first apartments backed by 10-year defect insurance

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

<html><body>
With manufacturing swiftly moving overseas, renovators are making good use of our empty warehouses.
Here are six of the best warehouse conversions currently on the market, with healthy doses of exposed brick and timber cross beams.
<ol>
<li>
<a href="https://www.realestateview.com.au/Real-Estate/9a-clifton-street-richmond/Property-Details-buy-residential-7870158" target="_blank">9a Clifton Street Richmond Vic 3121</a> <img src="/images/2014/11/10/4.jpg" alt=""> DCM and Rick Bzowy are responsible for the interiors of this three bedroom Richmond warehouse conversion. The former is best known for creating Melbourne landmarks, including the Cheese-sticks, which greet those traveling on the Citylink. The two story home has three bedrooms, two bathrooms and "showroom quality garaging" for six vehicles. It includes hydronic heating, exposed trusses, a commercial grade kitchen and a butler's pantry. The renovated warehouse is listed for auction on 29 November. 
</li>
<li>
<a href="https://www.realestateview.com.au/Real-Estate/30-gibbens-street-camperdown/Property-Details-buy-residential-7861230" target="_blank">30 Gibbens Street Camperdown NSW 2050</a> <img src="/images/2014/11/10/1.jpg" alt="">
While this warehouse's internal sterility unfortunately hides some of its original 1930s materials, it does showcase two other great qualities of warehouse buildings – volume and light. Spaced over three levels, the former print factory has five bedrooms, four bathrooms and multiple living spaces on 720 square metres of internal space.
The home retains its original parquetry, concrete and terrazzo flooring.
Update: 30 Gibbens Street has now been reported as sold.
</li>
<li>
<a href="https://www.realestate.com.au/property-apartment-nsw-darlinghurst-118354219" target="_blank">7/1 Printers Lane Darlinghurst NSW 2010</a> <img src="/images/2014/11/10/2.jpg" alt=""> This apartment is located in another former print factory, Darlinghurst's "The Printery". One of nine apartments, number seven has industrial-inspired interiors and 2.8 metre ceilings.
The interiors feature the building's original exposed brickwork and timber joists, with polished timber floors, while the bedroom appears to have an aged copper feature wall.
The one bedroom apartment will be auctioned on 6 December. 
</li>
<li>
<a href="https://www.realestate.com.au/property-house-nsw-clovelly-118213759" target="_blank"> 1 Greville Street Clovelly NSW 2031</a>
<img src="/images/phocagallery/2014/10/cloveeley-oct-29/clovelley_0000_1.jpg.jpg"> The former stables renovated by television producer turned tourism entrepreneur <a href="/news/henry-crawfords-former-clovelly-conversion-on-the-market">Henry Crawford</a> and his wife Nina Hill are on the market with $3.25 million expectations.
The current owners have decked the four bedroom conversion out with contemporary Australian art, including pieces by David Bromley and Bill Henson. With Asian-inspired interiors, the home features a variety of undisguised materials, including original timber flooring, timber crossbeams and exposed brick walls.
The Stables go to auction on 15 November.
</li>
<li>
<a href="https://www.commercialview.com.au/8-eastern-place-hawthorn-east-vic/commercial-for-sale-details-7831674" target="_blank">8 Eastern Place Hawthorn East Vic 3123</a>
 <img src="/images/2014/11/10/5.jpg" alt="">
Hidden behind a cascading hedge is a mixed-use warehouse conversion with an apartment and studio office with split tenancies. A consulting company occupies the warehouse's lower floor, with the apartment on the upper floor.
The three bedroom apartment has 246 square metres of space, with three bedrooms and three bathrooms set around a central roofed terrace. The offices and residences will be auctioned as one property on Thursday 27 November.
</li>
<li>
<a href="https://www.realestate.com.au/property-house-nsw-annandale-118345055" target="_blank">8A Piper Lane Annandale NSW 2038</a> <img src="/images/2014/11/10/6.jpg" alt="">
8 Eastern Place isn't the only warehouse with a folliage festooned façade on the market. This ivy-covered Annandale home is spread over a basement level, a ground floor and a mezzanine.
The basement holds a study and entertainment area, with timber flooring, exposed timber beams and exposed brick walls. Floating stairs take the resident up to the ground floor, where there is a lounge area, dining and kitchen space, an entry foyer and a bathroom.
The bedrooms are situated on the mezzanine level, with the master bedroom opening onto a deck. 8A Piper Lane will be auctioned on November 29.
</li>
</ol>
</body></html>

jrichardson-uRX5hFdKfN

The six best warehouse conversions on the market

<html><body>
GDI Funds Management Limited has entered into a conditional put and call option deed for the sale of 233 Castlereagh Street, Sydney for $156 million.
The B-grade office price represents an increase of $27 million compared to the June 2014 independent valuation. It is a 31 level 1976-built commercial office tower located in the southern end of the Sydney CBD within close proximity to the Downing Centre. 
It has been speculated Asian development interests were the intending buyers.
GDI Property Group recently leased a 1,800-square-metre office suite for the filming of the upcoming political drama Truth, starring Robert Redford and Cate Blanchett.
The film is based on the 2005 memoir Truth and Duty: The Press, the President, and the Privilege of Power.
Based on 60 Minutes producer Mary Mapes' 2005 memoir, the movie centres on the 2004 scandal that erupted after US news anchor Dan Rather reported that then president George W Bush received preferential treatment to avoid the Vietnam War draft.
Robert Redford will play the famous American anchor, while Cate Blanchett will portray producer Mary, who was subsequently fired over the story. 
The short-term lease was negotiated by Brendan Shipp and Thomas Fredriksen of Knight Frank, who said the movie directors needed nondescript views, as the movie is based in New York City.
Filming was expected to take eight weeks with the tenant paying about $100,000 a square metre gross for the space.
The GDI Property Group Steve Gillard said the sale was a great result and validated the GDI Property Group business model of buying well‐located CBD office properties with multiple exit options.
The option deed is conditional upon GDI Property Group procuring by September 2015 amendment of the covenanted restriction in relation to the allowable gross floor area.
GDI Property Group is confident that it will approve the amendment or replacement of the restriction on use.
Other key terms of the option deed include a $1 million call option fee has been paid.
GDA had previously advised in the GDI Property Group prospectus that it had been investigating the feasibility of alternative redevelopment options, including residential conversion, for its property at 233 Castlereagh Street, also known as 324 Pitt Street. 
In 2006 Leighton Properties Pty Limited (LPPL) and Lend Lease Real Estate Partners 1 Limited announced that they had exchanged contracts with SAITeysMcMahon, an Orchard Funds Management entity, for the sale of 233 Castlereagh Street at a price of $120 million.
It was transferred again in 2010 at $102 million. 
Quality office tenants over the years have included Moray and Agnew and more recently Copyright Agency, Carlson Wagonlit Travel and General Pants Co. The property known as Telstra House was owned by Telstra until selling at $55 million in 2002.
</body></html>

jchancellor-FAypfDUnLy

More mid-town residential looms as GDI secure 233 Castlereagh Street, Sydney deal

<html><body>
For those who don't have time to read Governor Glenn Stevens' full November statement or trawl through the latest figures from the Australian Bureau of Statistics, the Reserve Bank (RBA) has tweeted a visual update on Australia's economy.
<a href="https://www.propertyobserver.com.au/https://twitter.com/RBAInfo/status/529835809172492289" target="_blank"><img src="/images/2014/11/06/tweet-nov-6-one.jpg" alt=""></a>
The infographic also serves as a handy reminder of what the Reserve Bank takes into account when deciding the overnight cash rate, which this month remained at 2.5%.
At 2.3%, inflation continues to stay within the RBA's 2-3% target band, while it keeps an eye on the value of <a href="/expert-insights/investing/how-does-the-aussie-dollar-affect-commercial-property">the Australian dollar</a>.
With the average home now valued at $555,000, the RBA continues to flag increasing <a href="/expert-insights/finance/dwelling-prices-continue-to-climb-governor-glenn-stevens-november-statement">dwelling prices</a>.
</body></html>

Tweet of the day: RBA's economic snapshot

<html><body>
Hotel group One&amp;Only Resorts will manage the Emirates Wolgan Valley Resort and Spa.
The group owned by South African magnate Sol Kerzner has secured management rights of the six-star resort.
It is located 190 kilometres from ­Sydney inside the Blue Mountains world heritage conservation area.
The 40-villa resort will be One&amp;Only’s second Australian management property, after the group secured management rights over Hayman Island resort from Malaysian group Mulpha.
It came after two years of negotiation.
Emirates spent more than $130 million to build the 2009 resort.
Wolgan Valley founding general manager Joost Heymeijer said it was operating in the profit three years after opening.
</body></html>

 One&Only Resorts to manage Emirates Wolgan Valley Resort and Spa

<html><body>
Scentre Group, the Westfield business in Australia formed earlier this year, has reported improving retail sales growth.
The shopping mall group announced a third-quarter operational update for the nine months to September, with comparable specialty sales showing a rise of 3.7% year to date.
“We have seen an improving retail sales trend with 15 consecutive months of positive specialty sales growth in Australia with a 4.2% increase in comparable specialty sales for the quarter with good increases in the fashion, footwear, jewellery, leisure and retail services categories,” Scentre group chief executive officer Peter Allen said.
The retail sales environment in Australia continues to improve with total retail sales of $20.2 billion for the 12 months to 30 September 2014. In particular, comparable specialty store sales growth was up 3.7% over the last nine months and up 4.2% for the September quarter. 
Specialty sales productivity averaged $10,105 per square metre.
In Australia, the average specialty store rent grew to $1,551 per square metre at 30 September 2014, up 1.9% from September 2013. For the nine months to 30 September 2014, leasing spreads were 4.2% lower than expiring rents, with lease renewals 1.1% lower and new merchants 7.3% lower, both reflecting an improving trend. Over 2,100 leases have been completed year to date across 267,000 square metres for the portfolio.
For the total portfolio, specialty store occupancy cost was 18.8%, a decrease of 40 basis points from September 2013. 
For the nine months to 30 September 2014, leasing spreads were 4.2% lower than expiring rents, with lease renewals 1.1% lower and new merchants 7.3% lower.
In Australia, the average specialty store rent grew to $1,551 per square metre at 30 September 2014, up 1.9% from September 2013.
Occupancy costs fell 40 basis points to 18.8%.
During the quarter Scentre launched stage one of Westfield Miranda, which included a new Woolworths, 40 new specialty stores, a new car park. Stage two opening will be on 20 November with about 90 additional specialty stores, a new restaurant precinct and refurbished department stores. The final stage is planned for April 2015.
<div class="page" title="Page 3">
<div class="layoutArea">
<div class="column">
The report noted construction continues to progress well at the $670 million design and construction project for AMP Capital at Pacific Fair. 
</div>
</div>
</div>
Scentre’s distribution forecast is 10.2¢ for the six months ending December 2014.
 
</body></html>

Scentre notes uptick in fashion, footwear and jewellery sales

<html><body>
A private investor has paid $705,000 on a 5.1% yield for a purpose-built café at Moorabbin in Melbourne’s south-eastern suburbs.
It was sold at Teska Carson auction by George Takis, attracting four bidders.
The 89 Levanswell Road property located near Moorabbin’s industrial heartland comprises a 125 square metre café space with on-site parking for 10 cars.
The 703 square metre property was sold subject to an eight year lease from January 2013, with an eight year option, at a current rental of $36,000 per annum with annual 3.5% increases.
A nearby takeaway freehold property has been listed returning $1200 a month <a href="https://www.commercialview.com.au/view/commercial-for-sale-details-6815527" target="_blank">with an asking price of $275,000</a> through Balance Business &amp; Real Estate. 
</body></html>

Moorabbin cafe sold under the hammer at 5.1% yield

<html><body>
Rymill Coonawarra is selling a half stake in the South Australian winery business.
The Australian Financial Review says it is available for between $15 million and $20 million as the family-owned wine maker seeks funds to boost export sales.
The business, run by fifth-generation managing director John Rymill, has 143 hectares planted with a capacity of 80,000 cases annually, although it has averaged only 41,000 over the past five years.
Gaetjens Langley partner <a href="https://www.wineryforsale.com.au/our-team/" target="_blank">Toby Langley</a> has the offering.
Exports make up 10% of Rymill sales.
In 1890 John Riddoch founded <a href="https://www.rymill.com.au" target="_blank">Coonawarra</a>, the history of which is inextricably entwined with the Riddoch and Rymill families.
Scottish-born John Riddoch had arrived during the Australian gold rush in 1852.
His daughter, Mary, grew up at Yallum and married Robert Rymill, the neighbouring Penola farmer.
John Riddoch Rymill was a distinguished polar explorer, whose son Peter and his wife Judy, both farmers and keen equestrians, established the Rymill Coonawarra Winery in 1990.
The majority of Rymill’s product is cabernet sauvignon.
Rymill Coonawarra winery, built in 1990, was designed by the Melbourne architect, Geoffrey Woodfall, who used regional building materials extensively, with external walls of Mount Gambier limestone, and internal of locally grown radiata pine.
Some 10 years after the completion of the winery, the Mitchell Beazley publication Wineries with Style pronounced it to be one of the top 80 in the world.
 
</body></html>

Half stake in South Australian winery Rymill Coonawarra listed

<html><body>
The fund manager Placer Property Group have bought the NewActon East building in Canberra, home to the head office of the Australian Competition and Consumer Commission (ACCC).
Placer is seeking to raise $26.5 million in equity from self-managed super funds and individual investors for the unlisted property fund.
It offers investors an initial return of 7.75% paid quarterly.
The <a href="https://www.placerproperty.com.au/fund_newacton_east" target="_blank">NewActon East Property Fund</a> is a single-asset syndicate which will run for approximately seven years.
The fund’s only asset will be the commercial component of 21-23 Marcus Clarke Street, an ‘A’-grade, mixed-use building in the NewActon precinct on the fringe of the Canberra CBD. 
It was constructed in 2007 as an eight-storey, mixed-use office, retail and residential development. The fund has only acquired the building’s office and retail components (five storeys plus 115 car parking spaces) – the remaining three storeys of apartments remain in separate hands. 
Purchasing the asset will require $45 million to $49 million, including costs. 
It is expected the asset to produce reliable income, based on: 
<ul>
<li>98.5% occupancy;</li>
<li>Contracted fixed rental increases of at least 3.35% per annum; </li>
<li>A WALE of 9.2 years (by income); and</li>
<li>
A credit-worthy major tenant – 79.8% of passing rent is secured by a lease to the ACCC until 2022, the year after the initial term expires. 
</li>
</ul>
</body></html>

ACCC's Canberra head office bought by Placer Property fund

<html><body>
Sydney’s historic Griffiths Teas building are likely to be converted into New York-style converted warehouse apartments, offices and retail space.
Boutique residential developer Cornerstone Property Group has paid $22.22 million through JLL agent James Aroney for the factory that was sold by the property investors Isaac and Susan Wakil.
The Commonwealth and Wentworth Street, Surry Hills acquisition is part of a broader strategy to carve a niche transforming aging industrial buildings into stylish retail spaces and innovative warehouse style apartments, Cornerstone chief executive Michael Grant said.
<img src="https://www.urban.com.au/images/2014/11/05/surry-hills-nov-5-two.png" alt="">
The Cornerstone group recouped $37 million when all 39 apartments in its soon to be redeveloped Classic sportswear ­factory on Cleveland Street sold in May.
An historic mixed-use development at 119-121 Kippax Street is its latest project.
Isaac and Susan Wakil have also offloaded Key College House in Sydney to a ­consortium associated with property developer Michael Teplitsky.
Key College at 49-53 Wentworth Avenue is set to become a hotel and apartment tower with 98 hotel rooms and 35 apartments with hotelier Paul Fischmann’s Eight Hotels group.
</body></html>

Historic Griffiths Teas, Surry Hills building set for mixed-use conversion

<html><body>
The RBA's Dilemma
The general consensus is that our dollar should ideally be trading at around US85 cents and that would provide a balance between encouraging non-resource export businesses, while not adding unwanted inflationary pressure.
The RBA could achieve this simply by lowering the official interest rate. However, that would then fuel even more local borrowing — especially within the residential property market.
Ideally, the RBA would like to raise interest rates. Yet, that will only encourage more overseas funds into the country chasing attractive higher returns. Without a lower dollar exchange rate, that would put even more pressure on our export industries.
However, with the Aussie dollar falling to around US90 cents recently (and slipping slightly below that since), maybe the RBA will have its wish fulfilled.
The Impact of a Permanently Lower Dollar
Immediately, this would discourage overseas funds chasing higher returns and temper the demand by investors for both residential and commercial property.
Furthermore, the banks would begin losing their source of cheap funds and therefore, have less money available to lend.
Both these events would help cool the present frenetic market— where funds are often merely "seeking a home", with scant regard to value fundamentals — be it for residential or commercial property.
Bottom line: Make sure you stick to the basics, when assessing commercial property.
Always set out to look for:
<ul>
<li>Well-designed, well-located properties;</li>
<li>Solid tenants on a good leases; and</li>
<li>The ability to "add value", where possible.</li>
</ul>
Make sure you remain an investor in quality, not merely an accumulator of commercial property.
If you cannot find exactly what you want on realistic terms, perhaps you need to wait for the dust to settle and simply let these over-eager "amateurs" discover the importance of basing decisions upon underlying value.
</body></html>

Latest Investing Insights

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

Editor's Picks

Developments

New apartments

New townhouses

News

Latest Investing Insights

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

Editor's Picks

Receive the latest news stories to your inbox

Developments

New apartments

New townhouses

News