Malaysian developer <a href="https://www.apartments.com.au/developers/s-p-setia">SP Setia</a> is the latest to jump into St Leonards booming Transport Oriented Development precinct.

The developer, which has previously delivered Sapphire by the Gardens apartment development in Melbourne, identified the Atchison Street site in 2023. It filed a Scoping Report around 12 months ago, and now has revealed the designs for the new&nbsp;40-storey mixed-use tower.

The State Significant Development Application covers <a href="https://next-portal.urban.com.au/projects/14650/summary">20-22 Atchison Street</a>, a 1,374 sqm site positioned between St Leonards Station and the new Crows Nest Metro station.

Designed by <a href="https://www.apartments.com.au/architects/cox-architecture">COX Architecture</a>, the project would deliver 181 apartments, above a four-storey commercial podium, five basement levels, and new public domain works along Mitchell Street. The apartment mix comprises 35 one-bedroom apartments, 39 one-bedroom-plus-study apartments, 85 two-bedroom apartments, and 22 three-bedroom residences.

The proposal has been lodged as a shop-top housing development under the NSW Government’s TOD planning pathway, which allows increased density around key transport infrastructure. The site sits within the recently rezoned Crows Nest Accelerated TOD Precinct.

<img alt="First look: SP Setia targets St Leonards skyline with 40-storey TOD tower" data-entity-type="file" data-entity-uuid="b799673d-48e2-46b0-801a-0e33a9330100" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/atchinson%20site.png?VersionId=dPh0UfwfaHpbFL1R7H1cbZNbIW0CHbCC" />

SP Setia acquired the Atchison Street site as part of its continued expansion into the Australian apartment market. In comments made to City &amp; Country (The Edge Malaysia) in 2023, SP Setia President and CEO Datuk Choong Kai Wai described the acquisition as “a strategic move” aligned with the group’s post-pandemic market recovery strategy.

“Our target for this exceptional development is local and overseas buyers, including first-home buyers, downsizers and investors,” Choong said.

The tower has been designed as a slender vertical form rising from a mixed-use podium, with COX Architecture positioning the development as a response to the evolving St Leonards and Crows Nest skyline.

“The purpose of the project is to facilitate the delivery of high-quality housing at a strategically located site and deliver a built tower outcome that is consistent with the desired future character of St Leonards and aligns with the TOD controls,” the design report stated.

<img alt="First look: SP Setia targets St Leonards skyline with 40-storey TOD tower" data-entity-type="file" data-entity-uuid="b1a85eee-76f7-436c-a6da-73ba827b9b13" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/atchinson%20entry.png?VersionId=dA9jHGPMcm.dDbwk4QfxqWiY5bfh3UVt" />

The podium would incorporate retail uses fronting Atchison Street, commercial tenancies, landscaped communal areas, and pedestrian improvements along Mitchell Street. Vehicle access and loading would be consolidated via Atchison Lane.

Residents would have access to more than 665 sqm of communal indoor and outdoor spaces, while the development proposes 96 parking spaces across five basement levels.

The proposal also includes a commitment for 10 per cent of residential floor space to be allocated toward affordable housing through a monetary contribution.

COX said the tower form responds directly to the emerging high-density character of the precinct while seeking to maximise solar access, cross ventilation, and outlook from apartments.

<img alt="First look: SP Setia targets St Leonards skyline with 40-storey TOD tower" data-entity-type="file" data-entity-uuid="2163f85c-f63b-4be3-aafa-f8763976cec5" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Article%20Feature%20Image%20%28Grid%29_5.png?VersionId=WiAmtIKJ6.ZQ41EtYEQ1fol7AeorKBlL" />

“The building is orientated towards north,” the Apartment Design Guide compliance report noted, adding that the tower’s slim form was driven by the constrained inner-urban site dimensions.

The design also incorporates landscaped setbacks and communal open space at podium level, intended to soften the interface with surrounding streets and improve pedestrian amenity.

The project adds to a growing wave of redevelopment proposals reshaping St Leonards and Crows Nest following the opening of the Sydney Metro City line and the NSW Government’s push for higher-density housing around major transport nodes.

Last week Stockland filed plans just down the road. They want to build a <a href="https://www.apartments.com.au/new-apartments/601-pacific-highway-st-leonards-nsw-2065">52-storey tower on Pacific Highway</a>.

Read more:&nbsp;<a href="https://www.apartments.com.au/news/nsw/first-look-stockland-plans-52-storey-538-apartment-st-leonards-tower">First look: Stockland plans 52-storey, 538-apartment St Leonards tower&nbsp;</a>

Joel Robinson

First look: SP Setia targets St Leonards skyline with 40-storey TOD tower

<a href="https://www.apartments.com.au/developers/urban-property-group">Urban Property Group</a> has revealed plans for a new mixed-use tower at 10 Dangar Street, Wickham, advancing a proposal that would reshape the southern gateway to Newcastle’s city centre with one of the city’s tallest residential buildings.

The State Significant Development proposal, now on exhibition, seeks approval for a <a href="https://www.apartments.com.au/new-apartments/bowline-10-dangar-street-wickham-nsw-2293">43-storey tower</a> immediately adjacent to the Newcastle Interchange. The project would deliver around 200 apartments, including 42 affordable housing dwellings, alongside 99 co-living units, a 171-room hotel, retail space, and new public domain integrated through the site.

The scheme marks a significant escalation of plans previously approved for the site. Urban Property Group took over the prominent 2,904 sqm parcel, where excavation and demolition had already commenced under an earlier consent for a 14-storey mixed-use development.

<img alt="First look: Urban Property Group unveils Newcastle’s next supertower at Wickham interchange" data-entity-type="file" data-entity-uuid="58a96dd9-407f-4d20-86b4-94e4bfeef74b" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/wickham%20podium.png?VersionId=LGlf08pdFGAZDzvx_CXC4XakHNZRuEE0" />

Designed by <a href="https://www.apartments.com.au/architects/sjb-architects">SJB</a>, the tower has been conceived as a landmark transit-oriented development anchored to the Newcastle Interchange precinct. The proposal includes 245 build-to-sell apartments across a mix of one, two, and three-bedroom residences, as well as two penthouses. Fifteen apartments and one operational unit are earmarked for NDIS housing. The co-living component would add a further 99 units, while the podium would accommodate retail uses and hotel facilities.

SJB said the site presents “a valuable opportunity to anchor the precinct by setting the standard for design, active ground planes and character at the key southern gateway.”

The architecture responds directly to the site’s position beside major transport infrastructure and within one of Newcastle’s fastest-evolving urban renewal precincts. The tower form sits above a sculpted podium designed to frame new public spaces, including a through-site pedestrian link connecting Station Street to Hannell Street, landscaped plazas, and activated retail edges.

<img alt="First look: Urban Property Group unveils Newcastle’s next supertower at Wickham interchange" data-entity-type="file" data-entity-uuid="a7bd6ff0-f7db-4ce8-a6dc-ea56e72c6149" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/wickham%20lanne.png?VersionId=xzf39VADyhj7zBQY2I9fx9vI62u2tuSb" />

The design report describes the project as part of the broader transition of Wickham into “a vibrant, high-quality mixed-use urban precinct” that leverages proximity to the station, open space, and regional connectivity.

A detailed public art strategy has also been prepared for the development. The strategy positions the project as “a transit-oriented development of state significance at the gateway to Newcastle’s city centre” and outlines a series of integrated artworks responding to Newcastle’s industrial and transport heritage.

Creative Road’s curatorial framework for the project, titled Unveil, draws on “stratified surfaces, carved volumes, and light-filled apertures” while referencing Newcastle’s transformation from an industrial city into a contemporary education and technology hub.

<img alt="First look: Urban Property Group unveils Newcastle’s next supertower at Wickham interchange" data-entity-type="file" data-entity-uuid="77a882bb-14b1-4d28-99ff-9438e39508c0" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/wickham%20site.png?VersionId=cevgo_vN0eKPK78P8YcEu3mKPLkpFqE7" />

The proposal is being advanced through the NSW Housing Delivery Authority pathway after being declared State Significant Development in June 2025. The accompanying scoping report states the development aims to “maximise the site’s proximity to the Newcastle Interchange by delivering transit-oriented development” while increasing housing supply and affordable housing provision within the Newcastle LGA.

Urban Property Group’s plans align with the long-term strategic vision established under the Wickham Master Plan, which identified the interchange precinct as suitable for substantial uplift in height and density. The current proposal would significantly intensify that vision, positioning the tower among the tallest developments proposed for Newcastle.

The site sits immediately north of the Newcastle Interchange, bounded by Dangar Street, Hannell Street, and Charles Street. It is surrounded by a rapidly growing cluster of residential towers and mixed-use projects that have emerged following the completion of the light rail and transport interchange.

First look: Urban Property Group unveils Newcastle’s latest tower at Wickham interchange

Bottega House has completed settlement of a landmark riverfront site in Macquarie Street, St Lucia, representing its first major Brisbane development.&nbsp;

Positioned on the banks of the Brisbane River, the <a href="https://www.apartments.com.au/new-apartments/180-macquarie-street-st-lucia-qld-4067">premium site at 180 Macquarie Street</a> features uninterrupted river frontage in one of Brisbane’s most tightly held residential precincts.&nbsp;

The proposed development, currently under assessment with Brisbane City Council, has been designed by <a href="https://www.apartments.com.au/architects/plus-studio">Plus Studio</a> with interiors by <a href="https://www.apartments.com.au/interior-designers/mim-design">Mim Design</a> and will deliver a boutique collection of premium residences positioned specifically for owner occupiers and downsizers.&nbsp;

The residences are set to redefine luxury apartment living in the area, with a focus on architectural quality, refined finishes, landscape integration and elevated amenities including curated wellness facilities, resort-style pools and recreation spaces rarely seen in the local market.&nbsp;

Exclusive sales for the project will be led by Keenan &amp; Byrne, ahead of an anticipated launch later this year.&nbsp;

Bottega House Managing Director Nick Malloch said the project reflects the group’s ambition to deliver a highly curated residential offering within one of Brisbane’s most tightly held precincts.&nbsp;

“This is an incredibly rare riverfront opportunity and one we have approached with a long-term perspective,” Malloch said.&nbsp;

“Our vision from the outset was to create a boutique collection of residences that feel more like private homes than traditional apartments, with generous proportions, refined finishes and exceptional amenity throughout."

Malloch says there is a&nbsp;lack of premium owner-occupier stock of this quality in the market, particularly for downsizers wanting space, privacy and a true lifestyle offering without compromise.&nbsp;

"Demand is expected to be strong given the scarcity of premium riverfront opportunities of this nature within Brisbane’s inner-west."&nbsp;

Bottega House secures landmark riverfront site in St Lucia 

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The arrival of the first piling rig officially marks the commencement of construction at SIERA’s new beachside apartment development, Exhale, in Northcliffe.

<a href="https://www.apartments.com.au/new-apartments/exhale-surfers-paradise-8-enderley-avenue-surfers-paradise-qld-4217">Exhale</a>, a glass-encased tower featuring 54 large-scale apartments at 8 Enderley Avenue, is SIERA’s third Gold Coast development. It follows the recently completed PIPIS Bilinga beachfront project, which achieved suburb-record prices, and the soon-to-be-completed Chevron Island development, Tapestry.

[smartcode_project:default project_id=112661 project_image_fid=359603]

<a href="https://www.apartments.com.au/developers/siera">SIERA</a> Founder and Managing Director Brent Thompson said the arrival of the piling rig represented a significant milestone for the development, which is scheduled for completion in late 2028.

Over the next month, around 260 piles are expected to be installed as work progresses on the basement structure. The building is anticipated to rise above ground level early next year, before unveiling its sculptural glass curtain wall, developed in collaboration with specialist façade engineers.

“The façade was designed to maximise panoramic coastal views while creating a distinctive architectural identity,” Thompson said.

[smartcode_project:default project_id=112661 project_image_fid=355935]

Designed by BDA Architecture, Exhale will comprise just 54 two- and three-bedroom residences across 26 levels, a level of low-density living rarely delivered in this beachside pocket between Surfers Paradise and Broadbeach.

The project has been conceived as a resident-only building, with no short-stay accommodation permitted. SIERA says the model is intended to appeal to long-term owner-occupiers rather than transient holiday demand.

[smartcode_project:default project_id=112661 project_image_fid=361052]

Residences have been designed with large-format layouts and expansive glazing, with most apartments featuring more than 30 metres of glass frontage to maximise natural light and ocean views.

The amenity offering spans two levels and centres on wellness and lifestyle, including a heated magnesium pool, sauna, yoga and Pilates studio, gymnasium, private dining facilities, cinema lounge, and dedicated surfcraft storage.

[smartcode_project:default project_id=112661 project_image_fid=359607]

More than half of the apartments have already sold. SIERA has also opened a sales gallery for Exhale at its Chevron Island commercial premises, near its Tapestry tower and the site of its second Chevron Island apartment development, which is slated to launch in early 2027.
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[smartcode_project_cta:default project_id=112661]

SIERA kicks off construction at Northcliffe tower Exhale

Local Little Bay residents, along with buyers from premium postcodes across Sydney’s affluent Eastern Suburbs, have dominated purchases in developer-builder Urban Property Group’s first Eastern Suburbs apartment development, <a href="https://www.apartments.com.au/new-apartments/este-little-bay-jennifer-street-little-bay-nsw-2036">ESTE Little Bay</a>.

The $250 million coastal project, one of the first new developments in the area in several years, has proven particularly popular with downsizers, especially those from Coogee and Bondi. One Double Bay downsizer paid $4.7 million for a four-bedroom penthouse, setting a new local apartment price record in the process.

Buyers have been attracted to the combination of coastal tranquillity, premium design and amenity-rich neighbourhood living. The walkable village setting, along with proximity to three of Sydney’s leading golf courses, New South Wales Golf Club, St Michael’s Golf Club and The Coast Golf Club, has also been a key drawcard.

[smartcode_project:default project_id=112343 project_image_fid=352689]

Built across two low-rise buildings designed by <a href="https://www.apartments.com.au/architects/hill-thalis-architecture-urban-projects-pty-ltd">Hill Thalis</a> and set along a lush, landscaped green spine, designed by leading landscape architect <a href="https://www.apartments.com.au/landscape-architect/arcadia-landscape-architecture">Arcadia</a>, ESTE Little Bay offers a collection of one, two, three and four-bedroom residences with interiors by Richards Stanisich.

<a href="https://www.apartments.com.au/developers/urban-property-group">Urban Property Group</a> Sales Director, Tom McIvor said the response to ESTE has been "nothing short of extraordinary."

“Buyers have been quick to recognise ESTE as a rare opportunity to invest in a coastal sanctuary that offers both seclusion and connectivity to the heart of Sydney,” McIvor said.

[smartcode_project:default project_id=112343 project_image_fid=352687]

<a href="https://www.apartments.com.au/project-marketer/srm-residential">SRM Residential</a> Senior Director, <a href="https://www.apartments.com.au/project-marketer/srm-residential">Clayton Ross</a> said the local market has responded incredibly well, driven by ESTE’s exceptional location and the rarity it offers.

“We’ve seen strong interest from a variety of buyer groups, all of whom are drawn to the exclusivity and quality of the build and construction by the 4.5-star iCIRT-rated builder / developer, Urban Property Group. There’s truly nothing else like it along Sydney’s coastline.”

[smartcode_project:default project_id=112343 project_image_fid=352690]

The project also includes robust buyer protections, including Resilience Insurance’s Latent Defects Insurance, providing 10 years of structural cover, and an independent iCIRT-rating of the developer.

“The iCIRT-rating adds another layer of confidence,” Ross added. “Buyers see it as a safeguard for their investment and their lifestyle.” A highlight of ESTE’s offering is its exclusive wellness amenities, including a heated rooftop infinity pool and outdoor heated spa, a state-of-the-art Technogym fitness centre, and a sauna.

<a href="https://www.apartments.com.au/new-apartments/este-little-bay-jennifer-street-little-bay-nsw-2036">ESTE Little Bay</a> is topped out and is on track to complete towards the end of 2026, with residents moving in before Christmas.

[smartcode_project_cta:default project_id=112343]

Eastern Suburbs buyers snap up ESTE Little Bay apartments

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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While criticism of the National Rental Affordability Scheme (NRAS) has been seeing headlines recently, the Green Building Council of Australia (GBCA) is still urging the government to re-commit.
The GBCA's chief operating officer, Robin Mellon, applauded NRAS for driving affordable housing projects across the country, with many of them reaching Green Star benchmarks. NRAS has delivered a total of 14,500 dwellings, with allocations for another 23,000.
“Rather than scrapping the scheme, the Abbott government has the opportunity to make a good scheme even better," said Mellon.
The first NRAS project to achieve 5 Star Green Star - Multi Unit Residential As Built v1 certification was Monash University's Briggs Hall &amp; Jackomos Hall. The University of Tasmania also has projects registered to achieve the certification.
“These NRAS projects demonstrate that well-designed and well-constructed, sustainable developments are more efficient buildings – with lower energy consumption and lower energy bills the result,” said Mellon.
He pointed to recent comments from executive director of the Residential Development Council, Nick Proud, that ditching NRAS would be throwing the baby out with the bathwater.
“Increasing housing affordability in Australia requires a range of complementary measures, together with commitment from industry and all levels of government. NRAS is a vital piece of the jigsaw – one that we can't afford to lose,” said Mellon.
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Despite NRAS criticism, government should commit to scheme: GBCA

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Live pub theatre the Old Fitzroy Hotel in Sydney’s inner-east is for sale by expressions of interest as the hospitality sector faces consolidation and increased transaction activity.
The iconic pub in Woolloomooloo, about 2 kilometres from Sydney’s CBD, is <a href="/expert-insights/investing/old-fitzroy-hotel-in-woolloomooloo-put-on-sales-block">being sold as a freehold</a> going concern by private owner Garry Pasfield.
Transaction activity for freehold pubs rose in 2013, with the cost of debt low and lenders competing for market share. Experienced hoteliers such as Arthur Laundy and private equity and institutional funds including the John Singleton and Mark Carnegie-led Australian Pub Fund were active buyers.
Other pubs, including <a href="https://www.propertyobserver.com.au/victoria/the-espy-hotel-up-for-sale-four-things-you-didnt-know-about-the-melbourne-landmark/2014022567907" target="_blank">Melbourne live music icon The Esplanade Hotel</a> and <a href="/expert-insights/investing/emeralds-mayfair-ridge-tavern-leasehold-interest-listed-for-sale">Emerald's Mayfair Ridge Tavern</a>, are also on the market.
Specialist accounting firm Ferrier Hodgson, in a report into the hospitality sector released in February, predicted further growth in the volume of freehold transactions in 2014, as confidence returned to the sector and access to well-priced debt and equity finance improved.
The report cautioned that the Sydney market could be subdued in the first half of 2014 as investors waited to assess the effects of strict new lock-out laws, which came into force on February 24 in certain precincts.
Ferrier Hodgson said gaming venues may suffer revenue drops of up to 30% as a result of the new laws, and yields on affected pubs could soften by 0.25 to 1.5%.
“This has the potential to affect the sector as a whole as investor demand increasingly shifts towards assets with truly diverse product offerings, revenue streams and lower operational risk profiles,” the report noted.
The Old Fitzroy falls within the Sydney CBD Entertainment Precinct and has a gaming room with 15 poker machine entitlements, but its business is diversified, being Australia’s only live pub theatre.
Last April, Sydney Independent Theatre Company took up residence at the pub and uses the space six days per week, following the relocation in February 2013 of performance group Tamarama Rock Surfers which had been based at the venue for the previous 16 years.
The pub has been operating on the site since around 1910. It has a public bar, ground floor restaurant, beer garden, function room, commercial kitchen and accommodation rooms and offices on its second floor.
It received TimeOut Sydney’s Best Pub Award in 2012 and Hall of Fame Award in 2011.
CBRE’s Peter Vines and Daniel Dragicevich have been appointed to sell the property.
“We expect this iconic hotel will attract strong interest from a range of potential buyers including experienced operators looking to drive revenue in the already successful ground floor areas and further establish the underutilised first and second floor areas to achieve strong growth in profitability,” Dragicevich said.
The hotel’s public bar features vintage interiors, while the recently refurbished upstairs bar is more modern.
Dragicevich said the hotel held redevelopment potential and would benefit from further refurbishment, “particularly the upstairs bar which is currently underutilised, but would be perfectly suited to a cocktail, whisky or craft beer bar”.
Expressions of interest close March 27. 
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Iconic pubs for sale as freehold transaction activity increases

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The award winning Old Fitzroy Hotel in Sydney’s Woolloomooloo has been put on the sales block. 
The 129 Dowling Street hotel sits on a 273 square metre site and features a public bar, restaurant, beer garden, gaming room with 15 PMEs, function room and commercial kitchen. 
The established hotel received TimeOut Sydney’s coveted Best Pub Award in 2012 and Hall of Fame Award in 2011. Other key features are the accommodation rooms and offices on the second floor, as well as housing Australia’s only live pub theatre. The Old Fitzroy Theatre is currently leased to the Independent Theatre Company and used six days per week.
CBRE’s Peter Vines and Daniel Dragicevich have been appointed by Garry Pasfield to sell the property via expressions of interest. 
“We expect this iconic hotel will attract strong interest from a range of potential buyers including experienced operators looking to drive revenue in the already successful ground floor areas and further establish the under-utilised first and second floor areas to achieve strong growth in profitability," said Mr Dragicevich.  
He also pointed to the hotel's redevelopment potential. 
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kjiminez-eaYKfU7qd2

Old Fitzroy Hotel in Woolloomooloo put on sales block

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A two-storey retail building in one of Melbourne's most prominent high streets - Acland Street in St Kilda - has been slated for auction. 
Located at 143 Acland Street, the property is leased to national retailer San Churro.
Chocolateria on a five year net lease, with  4% annual rental increases.
The net annual net income is $133,760 plus GST and outgoings.
It is scheduled for auction on 21 August through Josh Rutman, Mark Wizel and Rorey James of CBRE. 
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Two storey Acland Street, St Kilda retail building listed

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The leasehold interest of the Mayfair Ridge Tavern in the central Queensland mining town of Emerald has been listed for sale.
Located on the corner of the Gregory Highway and Mayfair Drive, the single storey tavern was constructed in 2008 and is situated at the entrance to Emerald’s newest master planned residential estate Mayfair Ridge.
The expressions of interest campaign closed on 2 April through Leon Alaban and Sean Dollar of Ray White Hotels Australia.
Mr Alaban said “the site’s facilities consist of a sports bar, lounge bar and dining, a function room, gaming room with 35 EGMs, outdoor dining, a drive through bottle shop with liquor barn and one detached bottle shop.” 
“A massive benefit to the sale of this lease is that the tenant owns the 35 gaming authorities, ownership of these authorities should subsequently provide lending institutions added confidence to fund the acquisition.”
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Emerald's Mayfair Ridge Tavern leasehold interest listed for sale

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CDE Mortgages has secured a 228 square metre office suite in the Sydney CBD.
The four year lease was secured at 233 Castlereagh Street, on about $540,000 gross plus GST per annum.
Owned by property fund manager and investor, GDI Property Group, the building was substantially refurbished in 2004 to provide its tenants with a more flexible and efficient floor space design.
Thomas Fredriksen and Brendan Shipp of Knight Frank negotiated the lease.
Mr Shipp said “we are noticing that demand has increased greatly from tenants across various industry groups looking for sub 500 square metre spaces, particularly in the southern precinct of the Sydney CBD."
He attributed that increased demand to "the number of overseas firms looking to establish offices in Sydney and meet the growing demand from overseas markets to invest within the Sydney marketplace."
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CDE Mortgages secure four year Sydney lease

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DEXUS Property Group has secured a new lease with Lend Lease Business Services across more than 3,000 square metres at its The Zenith building in Sydney's Chatswood. 
The lease, at 821 Pacific Highway, extends Lend Lease's occupancy in the building to more than 7,300 square metres.
Dexus general manager of office and industrial for office and industrial, Kevin George, said combined with its tenancy at 30 The Bond, Lend Lease occupied more than 24,000 square metres across its Sydney office portfolio.
“Our active leasing approach and leveraging of tenant relationships has resulted in the leasing of almost 10,000 square metres at The Zenith over the past five months, increasing occupancy to over 95% and the weighted average lease expiry to 4.2 years," he said. 
The Zenith is managed and 50% owned by DEXUS, with the GPT Wholesale Office Fund owning the remaining interest.  
Dexus and partner The Canadian Pension Plan Investment Board is close to clenching 100% control of the $3 billion Commonwealth Property Fund.  Recent leasing at The Zenith includes:
<ul>
<li>Lend Lease Business Services new lease across 3,120 square metres adding to Lend Lease Abigroup Limited’s existing tenancy across 4,225 square metres</li>
<li>
Government Property NSW - Transport’s new lease across 2,116 square metres, growing its tenancy to 8,437 square metres
</li>
<li>Government Property NSW - Health Share’s recent long-term lease renewal across 4,646 square metres.</li>
</ul>
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DEXUS secure new Chatswood lease with Lend Lease

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A popular café in East Melbourne has been purchased by a private investor on a paper-thin yield of about 5.3%. 
The strata titled property, home to French-inspired bakery Laurent Patisserie, is located on the ground floor at 1 Powlett Street and sold for $1.53 million.  
Tenant Laurent Patisserie started its five year lease last year, at a current net rental of $81,752.
 It is subject to annual increments fixed at the CPI. There is one further five year option to renew with a rental review to market on exercise.
Gray Johnson director Matt Hoath negotiated the private sale.
The strata property on the ground floor of a high quality apartment building, said Mr Hoath, was fitted out as an exclusive cafe and patisserie and benefits from its premium position immediately opposite the MCG, Jolimont railway station and in close proximity to Melbourne’s most revered city edge parklands.
The sale price represented a site value in excess of $12,000 per square metre, he added. 
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Popular East Melbourne café sells on thin yield

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The international interest in Australia's commercial property market has continued with Singapore's International Healthway Corporation making its first foray into the country with the purchase of a Melbourne building for $45 million.    
In a statement, the integrated healthcare services and facilities provider said it had "signed a contract of sale" for the acquisition of 553 St Kilda Road in Melbourne and that the purchase marked the beginning of its portfolio diversification into Australia.  
Dr Jong Hee Sen, executive chairman of IHC said: "Diversifying into attractive and large economies in the Asia-Pacific region such as Australia, has been a key growth strategy since our listing in July 2013."
"IHC continually sources for attractive opportunities to expand our involvement in medical real estate, healthcare-related assets, integrated mixed-use developments, as well as healthcare services, to increase future income and enjoy capital growth prospects.  
"With Victoria being one of the most populous states in Australia, we are pleased to begin our expansion into Australia in this vibrant state.” 
The seven storey building is fully leased and is located on a 3,044 square metre site and it has a net lettable area of 10,170 square metres.  
 Dr Jong Hee Sen added that IHC plans to reposition the property over the next few years.
"With the rising healthcare demands of the ageing population in Australia, 553 St Kilda Road will complement and create synergies to the existing medical services provided in the surrounding vicinity," he said.
The property is located next to the Alfred Hospital. 
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Singapore's IHC makes first Australian acquisition

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One of Melbourne's most exclusive retail locations on Collins Street is set to be the new location for international luxury brand Hermès. 
The luxury retailer will occupy 420 square metres over two levels in the former NAB building. It is the first time that the space has been on the market in 76 years.
The 10 year lease, at 71 Collins Street, was facilitated by Ben Tremellen and Alexander Robertson of Colliers International.
“A second wave of more than 15 international brands is set to hit Australian shores in 2015-16,” Mr Tremellen said.
“The Melbourne CBD, and Collins Street in particular, will be at the forefront of this growth.
“The CBD continues to be the first location of choice for major international retailers coming to Australia and luxury brands have already begun expanding their presence.
"Melbourne is becoming a first stop for many of the luxury brands, due largely to the level of sophistication of the local market.”
Colliers research has found international retailers, upon entry to the Australian market, generally sought a flagship store in either the Melbourne or Sydney CBD, following up with locations in major shopping centres such as Chadstone in Victoria and Westfield Sydney.
“These retailers typically require large floor plates, with their average store size substantially larger than those of local retailers,” Mr Tremellen said. The store size requirement ranged between 150 square metres and 400 square metres. 
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