<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]

Joel Robinson

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

Sydney developer <a href="https://www.apartments.com.au/developers/odus">ODUS Property Group</a> is continuing to expand its local Gold Coast development pipeline, filing plans for a new 40-storey tower in the Southport CBD.

Odus, which bought two luxury Main Beach projects, now La Mer and Le Reve, to make its move into the booming Gold Coast apartment market, has secured its third site. But it is tweaking the plans for a previously proposed 50-storey skyscraper, now seeking to deliver 40 storeys.

The project, dubbed <a href="https://www.apartments.com.au/new-apartments/80-marine-parade-74-80-marine-parade-southport-qld-4215">80 Marine Parade</a>, sits on a prime&nbsp;2,032 sqm amalgamated corner site at 74–80 Marine Parade and 4 Welch Street, across the road from the Gold Coast Aquatic Centre. It will have unobstructed, never-to-be-built-out views to the east given its position opposite the Broadbwater Parklands.&nbsp;

The plans are for 316 apartments, ground-floor retail, and resort-style resident amenities. The project sits within Precinct 1 (Central Business District) of the Southport Priority Development Area, where high-density residential and commercial development is actively encouraged.

BGD, ran by Bayden Goddard and the architecture firm behind Le Reve, has revised the original concept plans, substantially reworking the built form. Basement parking has been replaced by an expanded podium designed to improve functionality while reducing the tower's overall visual impact.&nbsp;&nbsp;

<img alt="First look: Odus Property Group plots landmark 40-storey tower for Southport's Broadwater gateway" data-entity-type="file" data-entity-uuid="0f13d065-2cf5-45ec-aa17-1a03754d93d8" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Southport%20da%202.png?VersionId=.9QS2n7kBc_U3PyaI247uOyNSXIqnXSE" />

The tower rises above the eight-storey landscaped podium with a distinctive architectural language defined by sweeping arches, integrated greenery, bronze-toned glazing, and a sculptural rooftop crown.

The development will comprise 104 one-bedroom apartments, 208 two-bedroom apartments, and four four-bedroom penthouses across levels 9 to 36. Apartments are designed to accommodate both permanent residents and short-term accommodation within the same building.

A double-height lobby and reception will anchor the ground floor alongside a 23 sqm food and drink outlet, activating the Marine Parade frontage.

Parking will be accommodated within the podium, providing 288 vehicle spaces and 74 bicycle spaces, accessed from Welch Street.

<img alt="First look: Odus Property Group plots landmark 40-storey tower for Southport's Broadwater gateway" data-entity-type="file" data-entity-uuid="d7528b91-2c47-4094-98b3-5eecbacc0041" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Southport%20da%20podium.png?VersionId=efF5oWs4T9PDvxJwJEDHu5kSQ5eE3IBy" />

Residents will have access to an extensive suite of amenities spread across multiple levels. A podium recreation deck will include a swimming pool, spas, sauna, steam room, cinema, residents' lounge and children's games room, while a second wellness level near the top of the building will feature a gym, co-working spaces, reading room, dining areas and communal kitchen. Extensive podium landscaping wraps the building to soften the built form and strengthen its interface with the surrounding streetscape.

The planning report notes the project responds directly to Southport's ongoing urban transformation.

"Consistent with much of Southport, the surrounding area is undergoing significant transition, with many older low-rise developments progressively being redeveloped for higher-intensity urban outcomes, as envisaged within Precinct 1."

It also states that the proposal "will contribute to a defined and legible eastern gateway to the Southport CBD, reinforcing the area's high-density urban character while maintaining a strong visual connection to the adjoining public open space network."

<img alt="First look: Odus Property Group plots landmark 40-storey tower for Southport's Broadwater gateway" data-entity-type="file" data-entity-uuid="0b9fdebd-4b35-400b-a287-6bd1cdbcdb1b" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Southport%20da.png?VersionId=4LG35XR5mfir7jvG2TShtQx.utMLYBxu" />

Located opposite the Broadwater Parklands, the site enjoys immediate access to the Gold Coast Aquatic Centre, Australia Fair Shopping Centre, TAFE Queensland Southport campus, the G:link light rail corridor and Southport's established commercial precinct. The location places future residents within one of the Gold Coast's fastest-evolving mixed-use centres, where numerous high-rise residential projects are reshaping the CBD skyline.

Odus is headed by development professionals Byron Sakha, Jarrod Younan and Sebastian Younan. The Younans also head family-owned builder Nazero Constructions, established in the 1960s.

They are currently delivering La Mer, 24 luxury apartments on Main Beach Parade, and Le&nbsp;Rêve, on the same street but on the prized beachfront side of the sought-after strip.

ODUS plans landmark 40-storey tower for Southport's Broadwater gateway

A boutique collection of just 10 residences could become the catalyst for the next phase of renewal along the southern end of Surfers Paradise Boulevard, with new plans laid for a mixed-use tower designed to transform a long-vacant site.

The proposal for <a href="https://www.apartments.com.au/new-apartments/3098-surfers-paradise-boulevard-surfers-paradise-qld-4217">3098 Surfers Paradise Boulevard</a> has been conceived as more than a standalone residential project. Designed by <a href="https://www.apartments.com.au/architects/bda-architecture">BDA Architecture</a>, the development aims to spark the revitalisation of what the design team describes as the "South Boulevard" precinct, creating an active streetscape with retail uses at ground level beneath a collection of full-floor luxury residences.

The application, by PR Property Holdings, an entity directed by the Brisbane-based Ryan and Petrovic families, seeks approval for a 17-storey, 62.2-metre mixed-use development on a compact 427 sqm site between Surfers Paradise Boulevard and Appel Street.

The project will comprise just 10 apartments, including eight full-floor residences and two duplex apartments, positioned above a two-level retail podium. Three podium parking levels will accommodate 26 vehicle spaces, while a recreation deck is proposed on Level 4.

<img alt="First look: PR Property Holdings plans boutique apartment tower to kickstart Surfers Paradise's 'South Boulevard' revival" data-entity-type="file" data-entity-uuid="46cfa37d-5051-4449-8d8e-6724f8ca0d59" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Article%20Feature%20Image%20%28Grid%29_8.png?VersionId=e7UkeV1eTZAC2lXhdq72E3jpUbwiFD2t" />

Rather than pursuing apartment volume, the proposal focuses on large-format homes with a slender tower form intended to maximise outlooks while limiting visual bulk.

BDA Architecture said the proposal has been designed to become an urban renewal catalyst for the precinct.

"The ambition of 3098 Surfer's Paradise is that it provides the catalyst for incremental infill redevelopment and upgrade of what is coined the 'South Boulevarde' of Surfers Paradise which connects to the beating heart of Cavill Avenue."

The architects added: "An incremental approach to development that provides quality ground plane interface, human scale design, integrated subtropical landscape and semipublic permeable frontage can over time entirely upgrade a precinct."

The architecture adopts soft curves, articulated balconies and a slender tower profile rising from a human-scaled podium. The design report describes the project as delivering "bespoke residences of enduring distinction, sculpted with precision and quiet sophistication," with a focus on timeless coastal architecture.

The application also includes retail tenancies addressing Surfers Paradise Boulevard, reinforcing the site's role as an active mixed-use destination rather than a purely residential address. The planning report states the combination of the podium, landscaping and active frontage is intended to strengthen the pedestrian experience while contributing to the evolving character of the boulevard.

The site occupies a prominent position in the southern section of Surfers Paradise, directly opposite the G:link light rail corridor and within walking distance of Surfers Paradise Beach, Cavill Avenue, the Nerang River and Bruce Bishop Car Park. It is currently vacant, having previously accommodated a single-storey commercial building that was demolished in 2022. The planning report notes the surrounding area is characterised by a mix of commercial buildings and residential towers, with unlimited building height provisions applying under the Centre Zone.

The proposal also replaces an earlier 2022 approval for a restaurant and bar on the site, instead introducing a permanent mixed-use development that combines retail activation with boutique residential living.

Boutique apartment tower to "kickstart" Surfers Paradise's 'South Boulevard' revival

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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The landmark Hotel Bondi building has been sold almost 45 years after being bought by the publican Cyril Maloney.
John Musca, the JLL Hotels &amp; Hospitality Group said the buyer was a private local hotel group, <a href="https://www.theshout.com.au/2014/10/15/article/Hotel-Bondi-sold-in-hotly-contested-campaign/SJGYDYQMIE" target="_blank">the industry website The Shout reported</a>. 
There were 14 bids for the beachside hotel from around the globe. Subsequent reports the buyer was the son of the late publican proprietor, Kim Maloney whose stable of eight hotels, include the Starbar on George Street, the Shark Hotel in the central business district.
The publican beat 14 groups including neighbouring developer Capit.El, according to the Australian Financial Review.
No sale price has been given for the property which had $45 million hopes on its July listing. It comes with 30 gaming machines, a bottle shop, 37 hotel rooms and ­car parking spaces.
“Bidders included local and offshore developers, accommodation hoteliers, publicans and domestic and overseas high net worth investors,” said Mr Musca.
Six parties, having bid $40 million plus, were shortlisted for final negotiations.
"The executors were extremely happy with the range of bids received which provided comfort that the market was exhausted at all levels, and John Musca's professional and rigorous management of the process, and finalisation of a transaction, was exceptional," Karel Wheen, the executor noted
Built in 1919, the historic landmark had been owned by the family of<a href="/expert-insights/investing/hotel-bondi-listed-by-the-maloney-family-after-44-years"> late publican Cyril Maloney</a>.
Hotel sales have enjoyed a strong run in recent times.
Last month <a href="/expert-insights/investing/laundy-short-partnership-secure-iconic-mona-vale-northies-pubs">t</a><a href="/expert-insights/investing/laundy-short-partnership-secure-iconic-mona-vale-northies-pubs">he Laundy/Short partnership</a> purchased both the Mona Vale Hotel on Sydney's northern beaches and Northies at Cronulla for a combined price of around $57 million.
The two landmark Sydney establishments, Northies and the Mona Vale Hotel, were offered by the Fernwood Hotel Group Pty Ltd.
The latest challenge is the relisting of the freehold of the <a href="/news/double-bays-golden-sheaf-hotel-returns-to-market-as-freehold-only">Golden Sheaf Hotel</a> at Double Bay which has been listed for sale with offers due 6 November.
The Golden Sheaf Hotel occupies a strategic underdeveloped site area totaling 1,669 square metres.
JLL and CBRE Hotels have been appointed on the property which is being offered subject to leaseback to the hotel and hospitality group, Solotel.
Solotel's portfolio includes the Clock Hotel in Surry Hills, which was mistakening credited to Maloney in the initial report by Property Observer.
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jchancellor-FAypfDUnLy

Cheers! Maloney's Hotel Bondi sold to local familiar buyer

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Equiset's Lorenz Grollo has sold the Makers Mark building at 464-466 Collins Street for $25 million to Jeff Xu's Golden Age Group.
The 483 square metre site with <a href="https://www.commercialrealestate.com.au/property/7847269/commerical%20lease/vic/melbourne/offices,%20retail/" target="_blank">an 11-metre Collins Street frontage</a> cost $10.5 million in March 2013. After a development approval, involving adjoining air space entitlements, it was listed with supposed $30 million hopes.
Golden Age intends to revise the project, constructing a 280-apartment project designed by Bates Smart, to be called Collins House, above the historic three storey facade near the corner of William Street.
It is a much traded retail property with roller coaster sales having sold previously for $7.15 in 2005 on a yield of 5.25% through Knight Frank's Clinton Baxter; $3.5 million in 2004; $3.8 million in 2001; $1.75 million in 1998 and at $2.5 million in 2005.
Grollo has told the Australian Financial Review he plans to undertake a $100 million revamp of the nearby Melbourne landmark, Rialto Towers, with co-investor, Kuwaiti-controlled St Martins Property.
It is planned to add 9,000 square metres of retail space in the ­forecourt and refurbishing the towers which his father Rino built with brother Bruno Grollo. 
When the brothers divided the company in 2000, the Rialto stake stayed with Lorenz’s side of the family.
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Jeff Xu buys Makers Mark on Collins Street

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After eight years ownership, the unlisted property fund manager, ISPT, has sold its 37-hectare Werribee development parcel in Melbourne’s outer south-west for $25 million.
It was bought by the local developer, Dacland Group, led by John Dwyer.
The three adjoining sites come with a permit in place for 500 dwellings.
Robbie Demian of Oliver Hume Real Estate told the Australian Financial Review it was a record price per hectare for the City of Wyndham market.
Wyndham ranked as the second most expensive growth corridor land market this year.
It has a net median lot price of $218,000.
House and land packages start from $347,000, according to Oliver Hume.
The Wyndham Growth Corridor is one of the fastest growing regions of ­Melbourne with its population forecast to reach 200,000 by 2031.
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Dacland adds to Werribee land subdivsion sites

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The third quarter 2014 statistics for Australia’s national office markets have been released by JLL, and it appears that it’s a largely positive story, with net absorption at a positive of 19,800 square metres over the quarter and the national CBD office market vacancy rate holding steady at 12.4%.
Over 2014, business conditions did improve as job advertisements trended higher, explains JLL national director of research Andrew Ballantyne.
“However, the start of the 2014/15 financial year appears to have been the catalyst for increased tenant enquiry and activity,” said Ballantyne.
A third successive quarter of positive net absorption was recorded for Sydney, at 15,100 square metres, with Melbourne also leading the recovery.
Other markets have been less positive, with resource-dependent Brisbane and Perth recorded negative absorption over the quarter and increasing vacancy rates.
However, Sydney’s recovery isn’t being led by the traditional large office space occupants, the legal firms and finance companies.
Instead, it’s technology and related firms expanding, explains JLL head of office leasing New South Wales and Australia Tim O’Connor. In particular, North Sydney is exposed to these businesses.
“Sydney is following the same trend as east coast US office markets – technology firms are expanding, upgrading and locating themselves in core locations alongside traditional users including investment banks. LinkedIn has committed to relocate to 1 Martin Place and will occupy space in the same building as Macquarie,” said O’Connor.
Despite this, incentives remain high at 30% in Sydney CBD.
“Tenants have had the luxury of time in the Sydney CBD over the past three years. We only have to see a few instances of tenants being unable to secure their first choice of accommodation before two things happen – the first is that decision making timeframes begin to reduce and the second is there will be downward pressure on incentives,” he said.
Meanwhile, Melbourne is undergoing a round of centralisation.
“Viva Energy and Pragmatic Training both committed to CBD space over the quarter. The acquisition of office stock with residential conversion potential in St Kilda Road will support further centralisation over the next two to three years,” he said.
<img src="/images/2014/10/15/ev.owa.jpg" alt="">
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Start of new financial year the “catalyst” for increase office enquiry: JLL

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Guest observation
At 14.7%, the Brisbane CBD vacancy rate has never been this high.
It is the highest in Australia except for the Gold Coast at 15.0%.
<ul>
<li>A further 191,000 sqm is being built 2014-16</li>
<li>The largest project is 1 William Street</li>
</ul>
The math:
<ul>
<li>Now vacant: 321,000 sqm</li>
<li>Being added: 191,000 sqm</li>
<li>Total: 512,000 sqm</li>
<li>Average demand per annum: 40,000 sqm            = Supply for 12 years</li>
</ul>
Brisbane Office Market
Currently there are some 400 office suites available for lease in the Fringe area, compared with 320 in the CBD and almost 3,300 in greater Brisbane.
The office market has been hit by the worst demand shock in 30 years. It will take time to replace the lost demand from the public sector and coal and LNG industries.
Lower rents and population growth will eventually restore the market.
Brisbane Industrial Market
Last year was the strongest year for sales numbers in five years, with 377 sales in total.
The Gateway region north and south of Brisbane River account for almost a quarter of all sales and include most of the higher value properties.
Outside of Gateway, the South accounts for 36% of all sales by number.
Linda Phillips is the national research manager of Propell National Valuers.
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jrichardson-uRX5hFdKfN

Brisbane CBD vacancy rate hits new high

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The ­Australian Centre for Photography on Sydney’s Oxford Street has been sold for $5,035,000.
The centre will lease back the premises for the time being with the site has potential for development.
The 5.9% yield was secured by Miron Solomons, of Colliers International.
 “Yields of this level have not been seen on Oxford Street in several years, indicating a resurgence of the area,” he told Fairfax Media.
The 663-square metre building has been the home of the Australian Centre of Photography for 33 years.
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Paddington retail secures 5.9% yield with Australian Centre for Photography sale

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The latest NAB Residential Property Index for the third quarter of 2014 was unchanged overall. But it seems some capital cities are doing far better than others with the increasing presence of foreign buyers an the emerging theme.
NAB Group chief economist Alan Oster said while the overall index remained unchanged, Queensland has now overtaken Victoria as the strongest state, and South Australia and the Northern Territory were the big improvers.
While the outlook for national house prices in the next two years improved across the country, rental growth is expected to be subdued and heading backwards in all states except South Australia and Northern Territory.
NAB Economics’ analysis expects house price increases to be more modest in coming months, as a result of rising unemployment, sluggish household income growth, affordability issues and cost of living pressures.
"We are forecasting average house price growth of around 4% through the year to September 2015 and 2% through the year to September 2016," said Oster.
"Brisbane and Sydney are expected to lead the market in the next year, followed by Melbourne and Adelaide, with Perth lagging."
With sentiment continuing to fall in Western Australia, now at an all time low, there was also a recorded significant pick up in foreign buying activity for new property, particularly in Victoria, with predictions that it will continue. Foreign buyers account for one in six purchasers across the country, and one in four in Victoria.
"Foreign buyers accounted for 16.8% of total demand for new property in Q3, or about one in six of all buyers, with this share tipped to rise to 17.3% over the next year. Foreign buyers were more active in all states, but especially in Victoria where they accounted for an estimated 24.8% of total demand, or on in four all new property sales," said Oster.
The biggest constraint on new housing developments across the country continued to be housing affordability. Meanwhile, employment security remained the biggest impediment to buying an established home.
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Brisbane and Sydney to lead 2015, but growth to lag: NAB

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The Westpac Melbourne Institute House Price Expectations Index has recorded fragmented confidence around housing, according to Westpac chief economist Bill Evans.
The “whether now is good time to buy a dwelling” index increased by 2.3%, despite remaining 12.4% below its level one year ago and 18.5% below its level two years ago.
“The change in the index over the last year has varied markedly across states. In NSW the index has been steady whereas it has fallen by 27% in Victoria and 17% in Queensland,” said Evans.
Meanwhile, the House Price Expectations Index fell by 11.2% in October, now 12.8% below its level of a year ago.
“We are seeing some caution emerge around the outlook for house prices,” said Evans.
The proportion of those expecting house prices to rise took a sharp drop from 66% to 53.8%.
Overall, the Westpac Melbourne Institute Index of Consumer Sentiment increased by 0.9% to October, at 94.8.
“This is the eighth consecutive month that the index has printed below 100, indicating that pessimists have outnumbered optimists for eight consecutive months. That had followed sixteen months where the index had registered above 100 on all but one occasion,” said Evans.
“The current reading for the index is 1.2% below the average for those eight months indicating that while the index seems to be “stuck” in a pessimistic range there is no sign, at this stage, of ongoing deterioration.”
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Fewer expecting house prices to rise, but more keen to buy: Westpac Melbourne Institute

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A Kings Cross terrace with 10 bedrooms and 10 bathrooms has been relisted by McGrath Estate Agents, with its front façade repainted since initially sold last month.
The property sold recently for $2 million when more than $1.8 million was being sought by the <a href="https://www.mcgrath.com.au/buy/house-potts-point-nsw-2011/241590/?searchID=43511206" target="_blank">agent Peter Starr</a>.
The buyer has spotted another investment opportunity, so have put the property up for sale after a splash of beige paint on its façade. Its former black exterior is pictured below. 
<img class="img-responsive" src="/images/phocagallery/2014/07/potts-point-july-22/potts%20point_0000_1.jpg.jpg" alt="Pre-auction $2 million deal for Kings Cross 'special' offering">
Last month Property Observer reported Martindale sold for <a href="/expert-insights/investing/pre-auction-2-million-deal-for-kings-cross-special-offering">$2 million pre-auction</a> through McGrath Estate Agents with a distinctive black facade at 52 Kellett Street features an insightful floor plan indicating (pictured below) the purposeful layout.
The property at 52 Kellett Street features an insightful floor plan indicating (pictured below) the purposeful layout. 
Click to open in new window:
<a href="https://propertyobserver.com.au/images/2014/07/22/potts-point-july-22-floor-plan.gif" target="_blank"><img src="/images/2014/07/22/potts-point-july-22-floor-plan.gif" alt=""></a>
It featured in the 1999 SMH report by the investigative duo Kate McClymont and Andrew Clennell entitled, "Our Brothel Barons".
At the time it reportedly traded as Classique, a brothel whose advertising once boasted of a speciality in lesbian double acts. It has more recently traded as Studio 52, Star 52, Antonio’s Angels and Secret Desire. The rates have been at around $120 for 30 minutes.
The building, which has been marketed as in Potts Point, was listed previously in 2011, 2012 and 2013 without success.
It last traded at $2.1 million in 2006 when bought by ETC Australias Group Pty Ltd. Its earlier sales were $1.5 million in 2004 and at $1.38 million in 1999.
The premises were for sale, not the business.
There is no registered lease, with no rental income advisory given in <a href="https://www.mcgrath.com.au/buy/house-potts-point-nsw-2011/228008/?searchID=41071082" target="_blank" style="line-height: 1.3em;">the first McGrath marketing</a>.
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Same 10 bedroom, 10 bathroom Kings Cross re-offering

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A pick up in Queensland is being widely predicted, and SQM Research’s Louis Christopher expects 4% to 7% price rises for 2015.
However, there are still a number of properties in the state with strongly discounted homes.
Here are SQM Research’s top five vendor discounted properties in Queensland.
<a href="https://www.domain.com.au/property/for-sale/townhouse/qld/morayfield/?adid=2011132763" target="_blank">15/35 Kenneth Street, Morayfield</a>
<img src="/images/2014/10/15/d1.jpg" alt="">
Type: Townhouse
Current asking price: $239,000
Initial asking price: $340,000
Discount: 30%
Days on market: 169
<a href="https://www.homesales.com.au/buy/19-aminya-street/hs562185.aspx" target="_blank">19 Aminya, Coochiemudlo Island</a>
<img src="/images/2014/10/15/d2.jpg" alt="">
Type: House
Current asking price: $329,000
Initial asking price: $465,000
Discount: 29%
Days on market: 1,462
<a href="https://www.domain.com.au/property/for-sale/house/qld/west-end/?adid=2010559610" target="_blank">8 Stagpole Street, West End</a>
<img src="/images/2014/10/15/d3.jpg" alt="">
Type: House
Current asking price: $850,000
Initial asking price: $1,200,000
Discount: 29%
Days on market: 455
<a href="https://www.propertyobserver.com.au/https://www.raineandhorne.com.au/rural/properties/18022" target="_blank">87 Coondooropa Drive, Macleay Island</a>
<img src="/images/2014/10/15/d4.jpg" alt="">
Current asking price: $489,000
Initial asking price: $689,000
Discount: 29%
Days on market: 1,757
<a href="https://www.domain.com.au/property/for-sale/house/qld/narangba/?adid=2011192941" target="_blank">713 Old Gympie Road, Narangba</a>
<img src="/images/2014/10/15/d5.jpg" alt="">
Type: Land
Current asking price: $319,000
Initial asking price: $449,000
Discount: 29%
Days on market: 134
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