<a href="https://www.apartments.com.au/developments/broadbeach-qld-4218">Broadbeach</a> offers plenty of reasons to live vertically, but moving from a substantial family home into an apartment can expose the compromises of high-density living. Privacy, room for guests and usable living space tend to matter more when an apartment is intended as a permanent home rather than an occasional coastal base.

A typical residential floor at <a href="https://www.apartments.com.au/new-apartments/the-eveleigh-broadbeach-7-9-surf-parade-broadbeach-qld-4218">The Eveleigh</a>, on Surf Parade,&nbsp;contains just four apartments. The 94-residence development by <a href="https://www.apartments.com.au/developers/hirsch-faigen">Hirsch &amp; Faigen</a> is predominantly made up of expansive three-bedroom homes, with a limited collection of half-floor penthouses above.

Across the apartment floors, <a href="https://www.apartments.com.au/architects/rothelowman">Rothelowman</a> has used the relatively limited number of residences to give each home greater access to natural light and outlook. Living spaces extend towards full-height glazing, while a series of bay windows frame selected views across the Pacific Ocean, city and hinterland rather than treating the building edge as a continuous wall of glass.

&nbsp;

[smartcode_project:default project_id=149670 project_image_fid=360965]

“The apartment floors deliver a collection of homes that embrace controlled outlook via a series of bay windows deliberately framing moments of view,” Rothelowman Director Kim Lowman said.

From outside, those projecting forms contribute to the tower’s faceted profile. Strong horizontal and vertical elements establish its proportions, while the changing position of the sun alters the light, shadow and reflection across the façade throughout the day.

The same attention moves inside the apartments, where the material palette combines warm timber, natural stone, metallic detailing and softer curved forms. Kitchens sit within the main living zone, with stone island benches, integrated joinery and European appliances, before the living areas extend towards the glazing and the outlook.

&nbsp;

[smartcode_project:default project_id=149670 project_image_fid=360981]

Three genuine bedrooms provide room to accommodate family and guests, while two secure car spaces and storage address some of the practical considerations that can become more noticeable when moving from a larger home. Feedback from the display suite has centred on the warmth and restraint of the interiors, with buyers commenting that the residences feel like homes rather than conventional coastal apartments.

A limited collection of half-floor penthouses occupies the upper levels, increasing the scale of the living spaces and adding private balconies and elevated finishes. From this position, the outlook extends between the ocean and hinterland.

Outside the private residences, The Eveleigh separates its shared spaces between the podium and rooftop. The podium is centred on wellness, with subtropical landscaping surrounding a swimming pool and pool terrace, yoga garden, private gymnasium, sauna and hot and cold plunge facilities. Landscaped retreats and pavilions provide additional places to sit away from the main recreation areas.

&nbsp;

[smartcode_project:default project_id=149670 project_image_fid=360966]

Higher in the building, a rooftop pavilion and private dining suite sit alongside resident lounge, barbecue and outdoor dining areas, opening towards panoramic views across the ocean, city and hinterland.

“Buyers are no longer just looking for an apartment, but a lifestyle where they can relax, reset, and enjoy a balanced way of living,” Hirsch &amp; Faigen Director of Sales Matt George said.

Interest to date has come from established owner-occupiers and interstate lifestyle purchasers, including buyers planning a future move to the Gold Coast. Many are coming from larger homes and want to reduce ongoing maintenance without giving up space for family and guests, privacy, two car spaces or the ability to entertain at home.

&nbsp;

[smartcode_project:default project_id=149670 project_image_fid=360969]

Much of that daily life can also take place beyond the building without requiring a drive. Kurrawa Beach and Pratten Park are an easy walk from Surf Parade, while Pacific Fair, Oracle Boulevard, The Oasis, restaurants, cafés, entertainment and public transport are also within walking distance.

The Eveleigh is Hirsch &amp; Faigen's fourth Gold Coast development since entering the market in 2021, following The Hemingway at Palm Beach, The Emerson at Kirra and Yves at Mermaid Beach. Each of the preceding projects sold out before completion.

“Broadbeach had been on our radar throughout our time operating on the Gold Coast,” the developer said. “Following our projects in Palm Beach, Kirra and Mermaid Beach, Broadbeach represented the natural next step for the business.”

The Surf Parade site brought together proximity to the beach, protected coastal outlooks and walkability to dining, shopping and recreation. Hirsch &amp; Faigen also identified the street as an emerging premium residential address, with enough separation from Broadbeach's busier destinations to retain a quieter environment at home.

The Eveleigh is now under construction by Maxcon, with completion forecast for mid-2028. Three-bedroom residences are currently available from $2.87 million.

[smartcode_project_cta:default project_id=149670]

Joel Robinson

The Eveleigh brings house-like apartments to Broadbeach

A long-stalled Campbelltown development site is back in play, with new plans for 139 apartments set to supersede a mixed-use scheme approved almost a decade ago but never built.

The new proposal for 28 Cordeaux Street would deliver 116 market and 23 affordable apartments in a part 14-storey building, bringing a substantial new project into a Campbelltown market where new apartment supply remains limited.

Plans have been filed over the 3,092 sqm corner site at Moore-Oxley Street, around 600 metres from Campbelltown Railway Station and the city-centre retail core.

The site already carries a mixed-use residential approval dating to 2016. Doroch Architects has now been engaged on a larger replacement scheme, which is progressing as a State Significant Development Application following a Housing Delivery Authority determination in August 2025.

The apartment mix comprises 39 one-bedroom, 72 two-bedroom and 28 three-bedroom residences. Two-bedroom apartments make up just over half of the project, while three-bedroom homes account for 20 per cent.

<img alt="First look: New 139-apartment plans revive long-stalled Campbelltown city centre site" data-entity-type="file" data-entity-uuid="136dd5b9-3791-4da6-9e31-76f533f5b4de" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Campbelltown%20da2.png?VersionId=LgOSy9nwf5u.MGswBBwaGGxuX8QpHSl_" />

Of the 139 apartments, 23 will be delivered as affordable housing under the in-fill affordable housing provisions of the Housing SEPP. The affordable component represents 15 per cent of the residential gross floor area and will be managed by a registered Community Housing Provider.

Doroch has sought to break the scale of the building into two distinct elements, with a masonry podium of around four storeys establishing the street edge before the residential tower steps back above.

The corner position has shaped that approach. Cordeaux Street faces toward the commercial and civic centre, while Moore-Oxley Street leads into the lower-scale residential neighbourhood to the south, and the design verification report describes the site as "bridging the commercial core to the north and established residential areas to the south."

The podium will be expressed predominantly in face brick, while the upper levels shift to brushed and grooved concrete cladding with darker metal detailing. Recessed sections, deep balcony edges and landscaping break down the upper form, with an approximately 11.8-metre setback to the northern boundary addressing the adjoining St Peters Anglican School.

<img alt="First look: New 139-apartment plans revive long-stalled Campbelltown city centre site" data-entity-type="file" data-entity-uuid="c8b3d2d3-c561-4bfc-a5d9-a68c0c10dac1" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Campbelltown%20da1.png?VersionId=AeAEyJU02Gk2k5noUj2StziCvdQ7fW4B" />

Campbelltown has been starved of new residential developments in the last decade.

The only other notable development set to come to market this year is ALAND's Queen Square, a mixed-use precinct on over two hectares that will comprise apartments above a vibrant ground-level retail and hospitality dining precinct.

First look: New 139-apartment plans revive long-stalled Campbelltown city centre site

First Look: Sherlock Construction pitches apartments for low-rise Deception Bay

Queensland builder-developer MAYD has revealed the first look at its major North Kirra beachfront development, lodging amended plans that reduce the number of apartments and increase the proportion of larger residences.

The project is planned across a substantial 4,742 sqm amalgamated site spanning seven lots at <a href="https://www.apartments.com.au/new-apartments/2-6-pacific-parade-bilinga-qld-4225">2-6 Pacific Parade</a> and 27-33 Golden Four Drive in Bilin​ga, directly opposite Nor​th Kirra Beach.

<a href="https://www.apartments.com.au/developers/mayd-group">MAYD</a> secured the site for $32.5 million in 2025, in what was one of the Gold Coast's largest property transactions of the year.

The development will be delivered across two stages, with the first stage carrying an estimated gross realisation value of around $360 million.

The latest amendments seek to reduce the overall apartment count and shift the project further toward the owner-occupier market, with larger residences designed for buyers wanting considerably more space than traditionally offered in a beachfront apartment.

The residential mix will include townhomes, oversized two-bedroom apartments, substantial three-bedroom residences and four-bedroom homes.

MAYD has appointed Cera Stribley to lead the architecture and interiors, with the Melbourne-based design practice drawing on the beachfront setting through a series of ocean-facing terraces and heavily landscaped balconies.

Strong horizontal forms and curved balconies will define the exterior, with subtropical landscaping integrated throughout the building to soften the built form and increase the connection between the residences and the beachfront.

The project will also include an extensive collection of resident wellness and lifestyle facilities, continuing the broader shift across the Gold Coast's luxury apartment market toward larger homes supported by resort-style amenity.

<img alt="MAYD" data-entity-type="file" data-entity-uuid="d1bcbb05-e659-4b47-8bd4-1e595315e2ad" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-27%20at%202.05.03%E2%80%AFPM.png?VersionId=jj0XEud1X1DuLt7_KyElhjMdZGOXmLHP" />

MAYD Founder Todd Mould said North Kirra was increasingly appealing to buyers attracted to the more established, lower-density character of the southern Gold Coast.

"North Kirra presents one of the most compelling luxury residential opportunities currently emerging in Australia, combining absolute beachfront with the character and authenticity that buyers are increasingly seeking, and the same sense of tight-knit community that defined Burleigh and Currumbin perhaps 10 or 15 years ago," Mould said.

"With Gold Coast Airport on its doorstep, it also offers a level of accessibility that broadens its appeal across almost every market demographic."

The project comes as the southern Gold Coast continues to attract an increasing share of high-end apartment development and buyer activity.

Kirra in particular has emerged as one of the region's more tightly held beachfront markets, with its relatively low-density character, established surf and hospitality scene and proximity to Gold Coast Airport differentiating it from the higher-density markets further north.

Mould said those characteristics had informed the approach MAYD and Cera Stribley had taken to the project.

"We've worked closely with Cera Stribley to create a vision that is deeply connected to its surroundings," he said.

"Inspired by the coastline itself, the architecture has been shaped around space, privacy and resort-style living, creating a collection of homes that reflects the next generation of luxury on the southern Gold Coast."

MOTIV Managing Director Carly Cottam, who has been appointed to market the project, said buyer attention had continued to move south along the Gold Coast.

"Purchasers who may once have defaulted to Broadbeach, Main Beach or Surfers Paradise are increasingly recognising the value of a genuine beachfront location that offers lower density, strong amenity and a more established sense of community," Cottam said.

"Kirra has a powerful combination of growing demand and genuine scarcity. Beachfront supply is inherently constrained, the area remains relatively low density, and buyers are increasingly placing a premium on locations that feel established, uncrowded and authentic rather than heavily developed."

Cottam said the proximity to Gold Coast Airport was also proving increasingly important for interstate and second-home buyers.

"Being minutes from Gold Coast Airport makes it particularly compelling for interstate buyers, frequent travellers and second-home purchasers who can access an authentic coastal lifestyle almost immediately after stepping off a flight."

The acquisition takes MAYD's active development portfolio to more than $500 million, with the North Kirra project representing one of its largest undertakings to date.

MAYD is targeting an early 2027 launch.

First look at MAYD's North Kirra mixed-use precinct

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Castle Hill, the longtime hub of the Hills District, has been one of the major beneficiaries of Sydney's Metro expansion, with improved connectivity helping drive continued population growth, development and buyer demand across the Hills District.

But despite that growth, the suburb has seen relatively few major new apartment projects brought to market over the past 18 months.

Hills District developer Reve Group is looking to fill that gap with <a href="https://www.apartments.com.au/new-apartments/nova-r-ve-castle-hill-2-garthowen-crescent-castle-hill-nsw-2154">Nova Rêve</a>, a major new mixed-use precinct on the corner of Garthowen Crescent and Old Castle Hill Road, a short walk from Castle Hill Metro Station and Castle Towers.

[smartcode_project:default project_id=152737 project_image_fid=377679]

The project will comprise three residential towers alongside a hotel, restaurants, cafes and a skybar, more than 1,600 sqm of ground-floor retail and almost an acre of landscaped gardens.

It represents the largest project undertaken by Reve Group, the development arm of the Kassis family, which has been building across the Hills District for more than 30 years through Kassis Homes.

[smartcode_project:default project_id=152737 project_image_fid=377675]

Nova Rêve also represents a significant step up from the family's first apartment development, Grand Rêve, which was delivered nearby on Garthowen Crescent.

Grand Rêve introduced larger, house-like apartment layouts and premium inclusions including Wolf and Sub-Zero appliances to the Castle Hill market.

Nova Rêve takes that approach to a precinct scale, combining the residential component with hospitality, retail and substantial public and resident landscaping.

[smartcode_project:default project_id=152737 project_image_fid=377685]

Reve Group Managing Director Sam Kassis said the project reflected the family's three decades of building in the Hills, which has evolved from trophy homes on quarter-acre blocks to larger-scale apartment development.

"Grand Rêve was our first apartment project here and it showed us what this pocket of Castle Hill could be. Nova Rêve is the refinement of that idea: not just apartments, but a place the whole suburb can use," Kassis said.

A key part of that approach is the hotel, which has been designed to operate as an amenity for the wider Castle Hill community rather than solely hotel guests.

It will include restaurants, cafes, skybars and all-day dining, alongside conference and event facilities catering to business functions, community groups and private events.

At ground level, more than 1,600 sqm of shops and cafes will open onto the surrounding streets and landscaped areas.

Almost an acre of gardens designed by Land and Form Studios will run through the precinct, incorporating pathways, seating, barbecue areas and children's play spaces.

[smartcode_project:default project_id=152737 project_image_fid=377680]

Reve Group's Romio Georges said creating an active ground plane had been central to the planning of Nova Rêve.

"There are gardens with pathways, barbecues, seating and play areas, shops and cafes opening onto the street, and a hotel with restaurants and a skybar that anyone in Castle Hill can walk into," Georges said.

The project's elevated position on one of Sydney's highest ridgelines will also provide apartments with outlooks toward the Sydney skyline, surrounding parkland and the Blue Mountains.

More than 80 per cent of the apartments will occupy corner positions, with Turner responsible for both the architecture and interiors.

&nbsp;

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Nova Rêve arrives as Reve Group bets on Castle Hill's next growth phase

Adelaide

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Two adjoining properties located in Adelaide’s Chinatown precinct have hit market after being owned by one owner for more than 20 years. 
Savills Australia’s Rob Williamson and Rino Carpinelli in conjunction with JLL’s Roger Klem and Jed Harley have been appointed to sell the two allotments via an expressions-of-interest campaign and are expected to receive a circa figure of $20 million, with offers expected to come from local, interstate and offshore investors. 
Both properties overlook Gouger Street with a street frontage of 29.39 meters and a total site area of approximately 1,167sqm.
The hotel is leased to the Talbot Hotel Group whilst the restaurant property is leased to Trancent Pty Ltd which trades as Ba Guo Bu Yi Chinese Restaurant. 
Together both properties generate approximately $680,244 per annum and Mr Williamson said the properties are perfectly poised for outstanding capital growth. 
“Properties on this strip are very tightly held and opportunities in the heart of the precinct are seldom offered to the market for sale,” he said. 
“The strength of the trade in the precinct has acted as the catalyst for the rejuvenation of the surrounding streets and lanes,” Mr Carpinelli added. 
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j.ballantyne1990-6AQqhLzZaK

Savills lists two long-held adjoining Adelaide Chinatown properties

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Adelaide rose to the top of the quarterly performance stakes over the three months to the end of August, according to CoreLogic.
It took the mantle from Hobart where values have posted two consecutive months of subtle falls.
Adelaide dwelling values were half a percent higher over the past quarter.
<img src="https://www.urban.com.au/images/2018/9/3/CL%20Dwelling%20Values%20over%20time.JPG" alt="">
CoreLogic found that the median house price in Adelaide was $466,813 and an example of this was the sale of 9 George Court Adelaide (pictured above). 
The two bedroom one bathroom house, located in the Adelaide CBD, sold for $501,500 after less than 100 days on the market.
The holding is set on 91 sqm.
 <img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2018/9/3/CL%20ADL%202.jpg" alt="">
Another example of this median price being accurate is 58 Corryton Street Adelaide (pictured above).
The one bedroom one bathroom cottage was built in the 1880's and sold for $430,500 in late July.
It was on the market for 161 days and was passed in at auction in February this year.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2018/9/3/CL%20ADL%203.jpg" alt="">
The median unit price in Adelaide is over $100,000 less, sitting at $324,477.
The 612/185 Morphett Street Adelaide (pictured above) apartment sold for $290,000 last month after almost two years on the market.
Part of The Gallery this sixth floor 1 bedroom 1 bathroom apartment has 17 sqm of floorspace and was build by Century 21.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2018/9/3/CL%20ADL%204.jpg" alt="">
The apartment at 1/128 Gilles Street Adelaide (pictured above) has recently sold.
The one bedroom one bathroom property sold for 335,000 in early August.
It was on the market for over half a year and had $359,000 hopes in it's the most recent listing.
<img src="https://www.urban.com.au/images/2018/9/3/CL%20Dwelling%20Value%20Index.JPG" alt="">
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Adelaide becomes the nation's property hotspot

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Savills Australia’s Adam Hartley and Zandra McGee have been appointed to arrange the lease for the top floor office located in the Naylor House at <a href="https://www.realcommercial.com.au/property-offices-sa-adelaide-502760986" target="_blank">191 Pultney Street, Adelaide</a>.
The office is located in the heart of the Adelaide CBD and they expect to receive a high volume of interested tenants.
“This lease vacancy is reflective of the high standard of the building and how content previous tenants have been with the space provided by the owner,” Mr Hartley said.
The 568sqm office is located on level four of the building which has been restored with new lighting and flooring.
The space is said to be able to provide for split tenancies and the building has a café situated in the lobby.
“The tenancy is currently a blank canvas, with scope for tenants to design their dream office as they wish,” Ms McGee commented.
Tenants are expected to pay $465 per sqm including outgoings and expected interest groups will include engineering, finance and legal firms.
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Savills is marketing an Adelaide office for lease for the first time in a decade

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Savills Australia has negotiated a lease for Jenson PLUS for a 248 sqm office space in the Adelaide CBD.
Jenson PLUS has committed to a five year lease for the office shortly after the office underwent a refurbishment.
Savills Australia’s Adam Hartley negotiated the deal for 21 Roper Street, Adelaide saying the tenant was drawn to the modern space.
”From their first inspection Jensen Plus were attracted to the unique character of this building, new facilities and high feature ceiling,” Mr Hartley said.
Swan Family Lawyers are the current owners of the building and have been since 2016 when they purchased the property for just shy of $1.5 million 
Jensen Plus will be paying $330 per sqm, $81,840, annually.
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Urban Adelaide building group Jenson PLUS relocate to the CBD through Savills

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Solstice Media has committed to a new office sublease in Adelaide CBD, in a move to be closer to its diverse advertising and editorial client base.
The South Australian publishing company, which collates InDaily, The Lead, The Forager and The Southern Cross took over 135 square metres of office space on level three at 169 Pirie Street earlier this month.
Savills Australia’s Adam Hartley negotiated the two-year lease term on behalf of sub-lessor Lucid Consulting Engineers at a rate of circa $420 per square metre, per annum.  
Hartley said the tenant wanted to be closer to the heart of the Adelaide CBD, which made the Hindmarsh Square location a suitable option. 
“Solstice Media was also able to take advantage of the existing fit-out, which was improved to suit their occupancy," he said.
“A recent upgrade to the property has provided A-grade bathrooms and new end-of-trip facilities.”
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Publishing company signs lease on new chapter in Adelaide CBD 

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A development site in the Adelaide CBD has hit the market.
The 496 square metre L-shaped site at 399 King William Road is being marketed as a potential residential and mixed-use space.
Savills Australia’s Steve Bobridge, Peter Isaksson and Rino Carpinelli, who have been appointed to market the property, say they expect different buying groups to be interested in the property.
“Expected buying groups will include residential developers and commercial owner occupiers who could adapt the plans to suit their business with residential apartments above,” Bobridge said. 
“The vacant site has prepared plans for a 21 level mixed use development comprising residential, commercial residential and high quality residential penthouse suits with the benefit of basement car parking available.”
The site has frontage to King William Street and Gilbert Street, along with rear access to Tapleys Lane, which Isaksson believes will be attractive to prospective buyers.
“The property enjoys a commanding corner position in an area that has transformed over recent times, with a mixture of office, residential and commercial activities in close proximity,” Isaksson said. 
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Adelaide CBD development site hits the market

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Adelaide, the capital city of SA, has begun it's recovery on the HTW commercial office property clock for August, according to valuation firm Herron Todd White latest report.
Meanwhile, Echuca has dropped a notch to a declining market position from the previous peak of market point in HTW’s Office property clock in June. Canberra however has transitioned to a starting to a starting recovery position from its bottom of the market position in June.
At the bottom of the property cycle, Cairns joins Townsville and Launceston. Others in the same position are Darwin, Perth, Brisbane and Hobart.
<a href="https://www.propertyobserver.com.au/images/2018/8/6/August%20Office%20Property%20Clock%20HTW.JPG" target="_blank">Click to enlarge</a>
<img src="https://www.urban.com.au/images/2018/8/6/August%20Office%20Property%20Clock%20HTW.JPG" alt="">
 
"There has been a revolution in office real estate and the way it’s adapting to the demands of the modern workspace have a direct impact on owners, tenants and their workforce," the report stated.
"Some markets have thrived as a result, while others have failed to keep up," they concluded
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Adelaide's office market has begun its recovery: HTW property clock

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The first half of 2018 has seen a major shift in Adelaide's retail environment, according to the latest report from Herron Todd White (HTW).
The financial valuers stated that for the first time in 16 years South Australia has a Liberal Government, who have long advocated for extended trading hours.
Currently, shops in the Adelaide CBD or tourist precinct are allowed to trade during public holidays and these factors among others may assist brick and mortar retail to compete with the online space.
Infrastructure spending has also continued in South Australia following the change of Government, noted the report.
The Torrens to Torrens, Darlington Upgrade and Northern Connector, which all form part of the government’s North South Corridor are still undergoing construction and are a combined expenditure of $2.3 billion.
There has also been the approval of the current construction of a new Bunnings Warehouse on South Road in Edwardstown, creating a 17,008 square metre super store.
The $45 million Bunnings outlet will be completed early next year.
The report notes that "a part of the infrastructure spending taking place is a planned $174 million upgrade of the Oaklands Crossing (rail/road grade separation), which surrounds the Westfield Marion Shopping Centre".
"True to form, the bulk of the retail development is occurring in the Adelaide CBD, which has seen a sharp increase in the amount of residential accommodation under construction."
In January, it was announced that the $40 million redevelopment of Rundle Mall Plaza will house the new tenant, H&amp;M, across four storeys, Rundle Plaza was constructed in the 1960’s for David Jones. 
"In respect to Retail growth, the story over the last few years has been heavily weighted toward supermarkets such as Aldi who have opened 23 stores since entering the market in 2015," stated the valuers.
The 23rd was a centre at 209 Port Road, Aldinga, anchored by Aldi which was completed in January 2018.
There are more on the way with Aldi recently securing another site in Adelaide’s South East suburb of Blackwood, with the purchase of the Blackwood Village Shopping Centre for $5.5 million.
The Westfield Tea Tree Plaza Shopping Centre is also being extended and there are upgrades planned for Westfield Marion, which will take place in 2019.
Despite this, research undertaken by numerous outlets is positive and the retail trading environment seems to be improving in South Australia with retail spending being the second highest in the country in February 2018, reaching 3.7% compared to the national average of 2.7%, the report concluded.
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Adelaide's new north-south corridor constructions worth $2.3 billion dollars: HTW 

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Centuria has settled on its 80 Grenfell Street, Adelaide purchase with half of the property to be held in a single asset fixed-term unlisted fund.
 Demand for the fund was unprecedented with the offer closing 200% oversubscribed in only four and a half days. 
Centuria raised $57.1 million, with 30% coming from major overseas investors. 
Jason Huljich, head of real estate and funds management for Centuria, said Adelaide offers some of the best value in the country right now.
"The infrastructure pipeline for South Australia will drive economic and job growth…the $90 billion submarine and frigate contract is forecast to create up to 8,000 direct and 25,000 direct roles," Huljich said.
He added as of 1 July stamp duty was zero in South Australia, "which means transaction costs are significantly lower than in other states”.
It is one of the Adelaide CBD’s most high tech buildings added to its $4.7 billion portfolio.
The ASX listed Centuria Capital Group has exchanged unconditional contracts for the purchase of a 50% stake in the Bendigo and Adelaide Bank headquarters at 80 Grenfell Street for $92.3 million. 
Acquisition of the $184.6 million office tower was made in partnership the Lederer Group, which will take up the remaining 50% stake.
80 Grenfell Street is a A-grade office building, that is 96% let to Bendigo and Adelaide Bank.
The weighted average lease expiry (WALE) is long, at 7.3 years and rental increases are fixed at 3.75% annually.
Huljich said the Adelaide market has become increasingly attractive to property investors.
“The SA government’s decision to reduce stamp duty has been a positive strategic move to help drive investment into the state,” he said. 
“Compared with other states, where stamp duty averages 5.5%, SA’s is zero from July 1. 
“When transaction costs are lower, yields are higher, which means better returns for investors.”
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Zero stamp duty benefits Centuria's purchase of Bendigo and Adelaide Bank HQ in South Australia

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Adelaide's Davaar House, built for wine and spirit merchant William Johnston in 1876 at a £4000 cost, has been listed for sale.
It features 14 rooms, pantries, cellars, larder and bathrooms.
It was being restored as part of the $35 million apartment project on the corner of South Terrace and Hutt Street, <a href="https://www.realestate.com.au/property-apartment-sa-adelaide-128570242" target="_blank">August Towers</a>.
<a href="http://www.awesomeadelaide.com/tag/davaar-house/" target="_blank">The heritage listed building</a> had most recently served as headquarters of the TPI Association.
<a href="http://www.awesomeadelaide.com/disused-abandoned-buildings-ruins/urban-exploring-davaar-house-tpi/attachment/awesome_adelaide_urban_exploring_davaar_house_tpi_dsc7682/" target="_blank">The partially restored, two-storey mansion</a> is among the properties being sold to recoup some of the $29 million debts owed by developer Salvatore “Sam” Sgherza.
The Advertiser newspaper reported that CEG Direct Securities had taken control of the August Towers apartment building.
Photo courtesy of Awesome Adelaide. 
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