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;

Joel Robinson

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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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

<a href="https://www.apartments.com.au/developers/sunland-group">Sunland Group</a> has officially lodged plans for its first Gold Coast apartment project since the departure of the Abedian family from the company three years ago, unveiling a new high-rise proposal for a prominent Broadbeach corner site on Old Burleigh Road.

The application was submitted by an entity directed by Tom Jamieson, stepson of longtime Sunland leader Soheil Abedian, and Riaz Rezvanipour, brother-in-law of Sahba Abedian, Soheil’s son.

Sunland acquired the 1,283 sqm site on the corner of Old Burleigh Road and Armrick Avenue for $9.5 million late last year and is now seeking approval for a <a href="https://www.apartments.com.au/new-apartments/99-101-old-burleigh-road-broadbeach-qld-4218">42-storey tower with 81 apartments</a>.

<img alt="First look: Sunland Group returns to Broadbeach with new Old Burleigh Road tower plans" data-entity-type="file" data-entity-uuid="fea2946d-90ee-4cfc-babe-2a8ad5db2cb6" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/pers.png?VersionId=BV0fihJw31nDIQ8ozY_h3GbS8mxDyhnm" />

Designed by <a href="https://www.apartments.com.au/architects/contreras-earl-architecture">Contreras Earl Architecture</a>, the proposed tower at 99-101 Old Burleigh Road would deliver a predominantly larger-format apartment mix aimed at the owner-occupier market. Plans include 17 two-bedroom apartments, 55 three-bedroom apartments, and nine four-bedroom residences across 35 residential levels.

The development also incorporates three basement levels, four podium parking levels, two levels of communal recreation facilities, and rooftop plant and equipment. A total of 189 car spaces are proposed, significantly exceeding the 90 spaces required under the planning scheme.

The architecture adopts a sculpted, curvilinear form, with deep wraparound balconies and integrated landscaping intended to soften the tower’s vertical expression. The planning report states the building’s “slender footprint/form provides a complimentary yet varied built form within the local streetscape” and contributes to “a varied, yet ordered skyline.”

Contreras Earl noted in its Architectural Statement that from the early stages, the project addressed a fundamental challenge: how to accommodate the required residential yield while avoiding the conventional model of a tower sitting on a rigid, fully resolved parking podium.

“The most direct response would have been to consolidate parking into a singular, flat podium and extrude a repetitive tower above,” the statement said. “While efficient, this approach would result in a consolidated built form with limited engagement with the surrounding landscape and public realm.”

Instead, the conventional podium model was “deliberately rejected”. The architects described the base of the building as “a landscaped architectural condition where structure, planting and circulation are integrated”.

“Rather than presenting a continuous built mass, the base of the building is articulated through a series of concrete planter elements that organise the podium into a fragmented system,” the statement said. “This approach reduces the perceived bulk of the lower levels while establishing a more permeable interface with the streetscape and adjacent open space.”

<img alt="Sunland" data-entity-type="file" data-entity-uuid="923fad8d-c960-4527-8fbe-975cf1ddf88d" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-05-25%20at%2010.32.03%E2%80%AFAM.png?VersionId=pngwb0hYOIUpq9vDw6F2EsOiVuHF3DiX" />

&nbsp;

The site sits within the High Density Residential Zone and inside the City of Gold Coast’s unrestricted “HX” building height area, where the planning framework anticipates intensified residential development tied to the expanding light rail corridor. The planning report notes the area is undergoing “transition toward more intense development forms” given its proximity to Broadbeach, Surfers Paradise, and high-frequency public transport infrastructure.

Positioned directly opposite Broadbeach Park and within walking distance of Florida Gardens light rail station, the development would sit among a rapidly evolving stretch of Old Burleigh Road that has become one of the Gold Coast’s most active apartment development corridors.

The application joins a growing pipeline of luxury residential projects reshaping Broadbeach, including nearby developments by 5Point Projects, Polycell, and Graya.

The planning report argues the project contributes toward the Gold Coast’s long-term housing targets under the South East Queensland Regional Plan, which forecasts the need for more than 100,000 additional high-rise dwellings across the city by 2046.

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The Abedian family departed Sunland Group in late 2023, ending a four-decade association with the company, and subsequently established the private development firm Abedian &amp; Co. The group is currently delivering <a href="https://www.apartments.com.au/new-apartments/greenmount-residences-cnr-hill-street-and-marine-parade-coolangatta-qld-4225">Greenmount Residences</a> at Rainbow Bay and recently launched <a href="https://www.apartments.com.au/new-apartments/18-mary-avenue-14-18-mary-avenue-broadbeach-qld-4218">18 Mary Avenue</a> in Broadbeach.
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First look: Sunland Group returns to Broadbeach new apartment market with new Old Burleigh Road tower plans

The Minns Labor Government has established the new Bays West Delivery Authority to lead the development&nbsp;of the Bays West Precinct and Blackwattle Bay Precinct.&nbsp;

The Authority is charged with creating Sydney’s newest precinct, a thriving, connected, sustainable hub with White Bay Power Station as its cultural heart. Its vision is to build on the area’s natural, cultural and industrial history to shape a vibrant new neighbourhood.

The precinct will deliver up to 8,500 well-located homes, including a minimum of 10 per cent affordable and essential worker homes. Combine new housing with public open space, opening public access to the waterfront for the first time in more than 100 years, while retaining important deep-water facilities to support Sydney’s working harbour.

Located just minutes from the Sydney CBD and connected to a world-class metro, ferry, walking and cycling links, the Bays West precinct will rebalance housing growth towards well-serviced inner-city locations and help tackle the state’s housing crisis.

The Bays West Delivery Authority,&nbsp;an agency of the Department of Planning, Housing and Infrastructure, will report to the NSW Minister for Lands and Property who already has oversight of major precinct renewal projects including at Blackwattle Bay and Barangaroo.

As part of the broader Bays West transformation, the Minns Government recently announced that a proposal from Lendlease to redevelop part of the Bays West Precinct has progressed to Stage 2 of the NSW Government’s unsolicited proposals process.

<img alt="Sydney" data-entity-type="file" data-entity-uuid="2ed71eb9-d8e8-4fa7-b9d1-de4531dcf2f3" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-05-25%20at%209.42.31%E2%80%AFAM.png?VersionId=IDryFIbped9SNDg72LEN_EecvhUsOPvp" />

The Minns Labor Government has also confirmed the Bays West precinct will have a new suburb name. This will be the first major suburb built in close proximity to Sydney’s CBD in decades and will encompass the area currently being referred to as Bays West, including Glebe Island and the White Bay Power Station. Served by a new Metro station just five minutes from the CBD, it will become one of the most populous suburbs in the Inner West and one of Sydney’s premier cultural destinations.

An early works program is taking shape, which&nbsp;includes the first stages of an international design competition.&nbsp;

The aim of the Bays West&nbsp;International&nbsp;Design Competition is to&nbsp;ensure design excellence is embedded in the project from the start. The competition will deliver an&nbsp;urban framework that defines the character, ambition and long-term identity of&nbsp;this&nbsp;former industrial precinct as it transitions to a vibrant, inclusive and sustainable residential&nbsp;neighbourhood.

The competition will be led by the Bays West Delivery Authority in partnership with Government Architect NSW.&nbsp;

It will launch with an invitation for a global Expressions of Interest, before moving to an invitation-only stage that will be assessed by a panel that&nbsp;will provide advice to Cabinet who will select a winner.

Premier of NSW, Chris Minns said the establishment of the new Authority is the first step in transforming the Bays West precinct into a vibrant, livable suburb minutes from the Sydney CBD and two stops from Hunter St Station on the Metro West line.

“The Authority will deliver well-located homes close to the heart of the city and integrate the new precinct with Blackwattle Bay and the new Sydney Fish Market.

“This is a generational opportunity to build a new suburb on the city’s edge and open the harbour foreshore to the public for the first time in a century.”&nbsp;

Minister for Lands and Property Steve Kamper said the new Bays West Delivery Authority established by the Minns Government will turbocharge the development of Sydney’s newest suburb.

“The Authority is working at a record pace to deliver an international design competition, planning pathways and a financial model so that this development benefits Sydney with well-designed homes in a central location, close to public transport, jobs, entertainment and essential services.

“If we want Sydney to stay liveable and affordable, we need to be bold about using underutilised government-owned land to deliver homes for the future while making sure essential working harbour functions can be accommodated.”

Bays West Delivery Authority established to "turbocharge" Sydney’s newest suburb

Brighton

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A bathing box on Brighton’s foreshore has sold for a record $285,000.
<a href="https://www.realestate.com.au/property-house-vic-brighton-121606234" target="_blank">It was one of two newly built Dendy Beach boxes</a> – 76E and 76F – to go under the hammer at weekend auction through Hodges.
There were four bidders for the bathing box. 
Both were constructed by council in December.
Their prices bettered the previous benchmark of $260,000, set in 2011.
Brighton local Walter Gibson, 87, and his wife Helen, 85, have been locals for 60 years, but told The Age they only decided three days prior to buy the record-breaking box, 76E.
<img class="attachment-full" src="https://static.domain.com.au/domainblog/uploads/2016/01/30154208/2_gmhnbg.jpg" alt="Record sales: 76E and 76F Beach Box, Dendy Beach Brighton" width="747" height="422">
It is set to be enjoyed by their 16 grandchildren.
Neighbouring box 76F sold for $280,000 to another local family.
Only Bayside City Council residents are eligible to own a Dendy Beach box.
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jchancellor-FAypfDUnLy

Brighton bathing box sells to locals at record $285,000

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A clearance rate of 82 per cent was recorded across Melbourne to round out Autumn auctions on an improving success rate.
The weekend results compared to 80 per cent last weekend and 71 per cent the same weekend last year.
There were 1035 auctions reported to the REIV, including the mid-week auction of a <a href="https://www.realestateview.com.au/Real-Estate/3-miller-street-brighton/Property-Details-buy-residential-8728236" target="_blank">Brighton beachfront</a> at $8.04 million.
The auction sales totalled $790 million.
It had been offered with $6 million plus price guidance through RT Edgar on Brighton's true Golden Mile. The two-storey three bedroom brick residence has marble fireplaces, polished boards and stained glass panels on its 683 square metre block.
<a href="https://www.realestate.com.au/photogallery_new.ds?id=119665007&amp;theme=rea.buy" rel="photos" data-id="119665007"><img src="https://i3.au.reastatic.net/800x600/f70d3dea46c3780973c3a0719397b325547664954d8499ebe8b87cec9d0ea844/main.jpg" alt="3 Miller Street, Brighton" title="3 Miller Street, Brighton" data-index="0"></a> 
It was marketed as an "opportunity of owning one of Brighton's fifty-one beachfront properties." After 46 years ownership, it was secured by a New York based expat who beat five other bidders to purchase the knockdown property.  
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<div id="link-photo"><a class="photobox cboxElement" href="https://www.realestateview.com.au/portal/viewphotos?OID=8728236&amp;popup=photos&amp;photo=3" title="3 Miller Street Brighton VIC 3186 House - Photo 3"><img src="https://images.realestateview.com.au/pics/236/3-Miller-Street-Brighton-VIC-3186-Real-Estate-photo-3-large-8728236.jpg" alt="3 Miller Street Brighton VIC 3186 Real Estate Photo 3" title="3 Miller Street Brighton VIC 3186 House - Photo 3"></a></div>
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The REIV was expecting about 1,240 auctions across 277 suburbs through the weekend.
Houses were stronger sellers than apartments, with 84% selling compared to 78% of apartments.
Houses sold at a $924,250 median, with $590,000 for the unit median, according to Enzo Raimondo, the REIV chief.
The busiest auction locations were Reservoir and Camberwell with 20 auctions followed by Brighton with 14 auctions.
REIV TOP 5 HOUSES
1. 3 Miller Street, Brighton $8,040,000 2. 36 Wentworth Avenue, Canterbury $3,950,000 3. 6 York Street, St Kilda West $3,500,000 4. 24 Northcote Road, Armadale $3,000,000 5. 3 Percy Street, Balwyn $2,950,000 
REIV TOP 5 BARGAIN HOUSES 1. 11 Allawah Court, Hoppers Crossing $290,000 2. 4 Currawong Street, Mornington $300,000 3. 11 Mica Court, Kings Park $314,000 4. 50 Learmonth Crescent, Sunshine West $326,000 5. 2 Silverton Court, Craigieburn $330,000
REIV TOP 5 APARTMENTS 1. 10B Roselyn Crescent, Bentleigh East $1,420,000 2. 4/31 Cookson Street, Camberwell $1,340,000 3. 5A/9 Beach Street, Port Melbourne $1,230,000 4. 22 Stillman Street, Richmond $1,221,000 5. 2/45 Park Street, South Yarra $1,200,000 
REIV TOP 5 BARGAIN APARTMENTS 1. 3/6 Hatfield Court, West Footscray $220,000 2. 4/230 Ascot Vale Road, Ascot Vale $236,000 3. 2/5-7 Princes Street, Abbotsford $270,000 4. 3/24 Methven Avenue, South Morang $272,500 5. 11/69-71 Delhi Court, Travancore $285,000
Source <a href="https://www.reiv.com.au/Property-Research" target="_blank">REIV</a>
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$8 million Brighton beachfront sale rounds out Melbourne's ascending autumn auctions

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The most expensive home to sell this week in Sydney was a five-bedroom Balgowlah house, according to the latest CoreLogic RP Data Property Market Indicator Summary.
An Australian expatriate bought the harbour front property at 9 King Avenue for $6 million through Anthony Walls of Max Walls International. 
<img src="/images/2015/05/25/700_9kingbalgowlah.jpg" alt="">
In Melbourne, the top selling house this week was a stately six bedder in Brighton, Victoria.
The 1850s Victorian residence set within 1553 sqm at 43 Middle Crescent (below) sold for $6,400,000.
<img src="/images/2015/05/25/700_brigton_vic.jpg" alt="">
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Brighton beats Balgowlah as top sale: CoreLogic RP Data

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Within a month of its listing, a Brighton golden mile waterfront trophy home has been sold at an undisclosed, but confirmed new record price for the bayside suburb.
It had been tipped to break the bayside suburb's price record.
The triple storey home would need to fetch $18 million plus to have matched the record.
It sold ahead of its May 19 expressions of interest campaign deadline. 
It was the home former St Kilda Football Club president Rod Butterss built. 
The four-level European inspired villa has 18 principal rooms, most with city and water views, including several kitchens, a library, a conservatory and cinema.  It also has parking for 12 cars.
Butterss sold 39 Seacombe Grove in early 2007 for $11.2 million to current vendor, solicitor John O'Halloran and his wife, artist Cathy Anne Coady-O'Halloran. 
<a href="https://www.realestateview.com.au/Real-Estate/39-seacombe-grove-brighton/Property-Details-buy-residential-8655190" target="_blank">Kay &amp; Burton agent Ian Jackson</a> was marketing the listing a year after the record-setting $18 million sale of Shanagolden, at 12 Moule Avenue.
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Seacombe Grove, Brighton takes record price mantle from Moule Avenue

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The six bedroom Brighton home which has accommodated the latest batch of Masterchef contestants on the Channel Ten competition, has been listed for sale.
<a href="https://www.marshallwhite.com.au/323-st-kilda-street-brighton-7027769/" target="_blank">It was designed at 323 St Kilda Street</a> by Peter Carmichael, and then constructed by Everclear.
"Un-paralleled luxury levels make their presence immediately apparent throughout dramatic, dynamic spaces for living, dining and entertaining that are matched by equally memorable alfresco areas while a Miele equipped kitchen, filled with northern light, meets contemporary needs with evident elegance and efficiency," the Marshall White marketing suggests on the Brighton offering.
"It is a home of substance and status," Marshall White agent Michael Paproth said.
It comes with home cinema, play room, cellar, swimming pool, spa and gymnasium, security surveillance and garaging for six cars on an allotment measuring some 1883 square metres.
The beach and the bay are at the end of the street.
It has been listed with $5 million plus expectations.
Thousands auditioned, with judges Gary Mehigan, George Calombaris and Matt Preston scouring the country to handpick Australia’s best home cooks, selecting the Top 24 to join them in Melbourne’s MasterChef Australia kitchen in the sixth series, and second in Melbourne.  <a href="https://tenplay.com.au/channel-ten/masterchef/photos/selfies-gallery#17" target="_blank"></a>
<a href="https://tenplay.com.au/channel-ten/masterchef/photos/selfies-gallery#17" target="_blank">The 24 contestants who share a passion for food, while bunking down in Brighton</a>, are competing for $250,000 cash, a Hardie Grant cookbook publishing deal, work experience in some of Australia’s best kitchens and an Alfa Romeo Giulietta.  
Close to 70% of MasterChef Australia alumni now work in the food industry.
This week Property Observer revealed <a href="/news/channel-tens-the-bachelor-heads-to-hunters-hill-leaving-la-joie-de-vivre-behind">Clifton, the heritage listed Hunters Hill mansion, is the home of the next series of The Bachelor</a>, replacing La Joie de Vivre at Bayview.
The reality television show on the struggling Network Ten is currently being filmed in the stunning Sydney mansion.
It last sold in 1993 for $2.75 million.
The 5,124 square metre near-riverfront estate with a lawn tennis court was recently vacated by the McCaffrey family.
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MasterChef Australia home in Brighton for sale

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Brighton’s retail sites are seeing significant interest, with one retail freehold site seeing eight bidders fight it out.
The site, 20 Church Street, <a href="/news">Brighton</a> was sold through Fitzroys senior associate Mark Talbot for $2.83 million – 25% over the reserve price and a sale yield of 3.1%.
Talbot said that the area has one of the lowest vacancy rates in Melbourne.
Previously owned by the Steele family, and located next to the Westpac Bank and recently refurbished Safeway Supermarket, the property is on 187 square metres of land with a five metre frontage.
Prospective buyers from both overseas and interstate expressed interest – finally selling to a local family.
It includes a ground floor café and first floor apartment that is separate, both leased for five years to Chloe’s Café. It returns $90,669 per annum plus outgoings and GST with 4% annual rent increases.
“The property’s location nearby tenants such as Sportsgirl, Lorna Jane, Kookai, Gazman and Decjuba certainly increases the confidence level of buyers, who can be assured that finding a replacement tenant in the future should be straight forward,” said Talbot.
“A development site in Caulfield of 867 square metres and 90 Church Street have been the stand outs, with prices achieved approximately 25% above reserve,” he said of strong sales in the local area.
Property Observer has previously reported that the retail strip is garnering <a href="/expert-insights/investing/national-retailers-drawn-to-church-street-brighton">significant interest from national retailers</a>. 
Last month a 127 square metres Church Street shop <a href="/expert-insights/investing/church-street-brighton-shop-sells-for-1-3-million-at-auction">sold for $1.3 million at auction</a>.
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jduke-EHk3XBmHkn

Fierce bidding for Brighton’s Church Street retail sites

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Shannagolden, one of the largest estates on Brighton's coveted Golden Mile, has been sold for a reputed $18 million record price.
The four bedroom house on 3900 square metres at <a href="https://www.domain.com.au/property/for-sale/house/vic/brighton/?adid=2010225457" target="_blank">12 Moule Avenue sold through </a><a href="https://www.domain.com.au/property/for-sale/house/vic/brighton/?adid=2010225457" target="_blank">Jonathan Dixon at the JP Dixon agency</a>.
It was the second prestige price record paid last week in Melbourne with a $12 million plus sale also secured in <a href="/news/hollyford-st-vincent-place-mooted-10-million-plus-record-setting-albert-park-mansion">Albert Park</a>, reputedly to a travel industry executive.
Shannagolden was sold by the pathology pioneer Wallace Cameron and wife Joan, who also own the Mt Macedon estate, Sefton.
The Cameron's, who bought Shannagolden for a then $5.1 million record in 1997 through Dixon, reportedly has $25 million expectations in 2011. 
{qtube vid:=s1D2stctk7I}
The Age report it was bought by the retired businessman Julius Colman and wife Jadwiga. 
The Salvo family's Glyndon Avenue property had held Brighton's record of $15.6 million since.
Shannagolden is a contemporary mansion built about 35 years ago.
It's prior owners include the Pelaco and Vaughan families.
Brighton has been something of a sleeping giant over the past year, with sales slow to be secured.
The former Australian cricket captain Ricky Ponting and wife Rianna - who are expecting a baby brother for their two daughters  - <a href="/news/nsw/ricky-ponting-lists-burraneer-bay-home-as-he-heads-to-brighton">moved into</a><a href="/news/nsw/ricky-ponting-lists-burraneer-bay-home-as-he-heads-to-brighton"> their property in Brighton last year</a> after paying $9.25 million.
It is the Shandford Estate, a 1920s Edwardian seven-bedroom house on 1890 square metres of land, which has a billiard room, library, tennis court and a private laneway to the nearby beach.
Last sold at $2.7 million in 1999, the Brighton house was sold by private treaty through JP Dixon last March.
The 39-year-old former Tasmanian told the News Ltd weekend paper he was enjoying the shift from Sydney.
"Obviously it’s more my lifestyle in Melbourne, coming from Tassie, being around footy and even the weather is a bit more what I’m accustomed to," Ricky Ponting said.
<a href="/news/vic/shane-warne-secured-10-85-million-in-kilkerran-sale-so-no-brighton-record">Shane Warne sold his Brighton home</a>, Kilkerran late last year for $10.85 million, and is reported to have recently spent around $4 million on a four bedroom, two bathroom Kinane Street, Brighton home.
The heritage-listed property, Kilkerran was bought for $8.55 million in 2009 with his then-wife Simone Callahan.
It had been completely renovated to include a wine room, a gym, basement garage, tennis court, cinema and a pool with Warne's cricket number, 23, inscribed on the bottom of the pool.
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Shannagolden secures $18 million Brighton record to end cold snap

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One of Melbourne's most prominent high streets, Church Street in Brighton, has attracted two national retailers to the area - Trenery and Bonds Kids. 
Trenery, a subsidiary of Country Road Limited, has secured more than 700 square metres at 46a Church Street (pictured above), while Bonds Kids, a subsidiary of Pacific Brands, is opening a store at 40B Church Street.
It is understood the Trenery tenancy is the first Victorian suburban stand-alone store as part of a select roll out of stores under the guidance of the Country Road group.
The premises were previously occupied by Browns Bakery and returned about $86,000 per annum, however Trenery have committed to a rental close to $135,000 per annum. “The space has now been transformed into an ultra-modern tenancy and is regarding as one the most impressive in the street,” said Fitzroys senior associate and leasing agent, Mark Talbot.
The <a href="https://www.propertyobserver.com.au/x-apple-data-detectors://4">40B Church St</a> lease to Bonds Kids is smaller in size but attracted a rental close to $100,000.
“Previously occupied by Stride-Rite, Bonds Kids have also completed a high-end fit out of their new premises, which is sure to rival other children’s wear operators within the street,” Mr. Talbot said.
The Bonds Kids group was currently undertaking a rapid expansion into a select number of shopping strips with, Fitzroys also brokering the lease to Bonds Kids at the Malvern Road, Hawksburn.
The rent payable for Malvern Road store tenancy is believed to be about $90,000 per annum.
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National retailers drawn to Church Street, Brighton

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2014 is still motoring along very strongly. The lull we reported of the last few weeks seems to have been nothing more than another stair landing in the continuously rising price-staircase which began in October 2012.
This weekend was another Super Saturday, with over 150 auctions in Melbourne’s inner east and Bayside. It was a very solid test, in that bidders were spread out over a large number of auctions – i.e. there was significant choice. The bidder depth held up, in fact it increased marginally with over two bidders per auction on average – this is strong.
If you look at the roughly 200 $1 million plus auctions that took place across all of Melbourne, an average of two bidders means that not only were there 200 buyers, there were also 200 bidders who missed out. Most of those “wounded” bidders are not discretionary buyers – they have to buy and next time they will be more aggressive on price, even if only a tad.
<blockquote>
For a number of our Chinese clients, one of the reasons we are engaged is that they are concerned what other Chinese buyers may do and they don’t want to miss out.
</blockquote>
However, after next week it gets very tight for new stock going into the school holidays and Easter. So the pool of choice will diminish. That means many of those 200 “wounded underbidders” may well be competing against you over Easter but on lower stock levels. That means we’re likely to see 200 underbidders competing not on 200 homes, but on, say, 100 good homes which would double the bidders. If that number is spread out over 50 good homes, that will be four times the bidder strength we saw this weekend.
So what to do as a buyer? Maybe it’s time to wait until the steam goes out of the market?
For those buyers still waiting on the edge for a downturn – good luck. I’m not sure that is a proven good strategy.
But surely it can’t last forever!
Why has our market been so good for so long and will it last?
The Chinese community – simple demand and supply
The reason our market has been so good for so long is very simple – the overseas Chinese community.
Here are the top 10 reported sales on Saturday.
The Top 10 reported on Saturday
<ul>
<li>14 Selwyn Av, ELWOOD – Above $3,600,000</li>
<li>
21 Monash Av, BALWYN – $3,520,000</li>
<li>17 Rolls Ct, GLEN WAVERLEY – $3,416,000</li>
<li>
65 Metung St, BALWYN Above $3,200,000</li>
<li>30 Wills St, KEW Above $3,000,000</li>
<li>4 Mt Ida Av, HAWTHORN EAST  $3,235,500</li>
<li>69 Alfred Cr, FITZROY NORTH  $3,140,000</li>
<li>
2 Barnsbury Rd, BALWYN Above $3,000,000</li>
<li>9 Fairfield Av, CAMBERWELL  $2,888,000</li>
<li>
65 Yarrbat Av, BALWYN $2,850,000</li>
</ul>
40% of those sales were in <a href="/news">Balwyn</a> for new homes or land blocks to build new homes. Where is <a href="/news">Brighton</a>, where is <a href="/news">Toorak</a>? <a href="/news">North Balwyn</a> and Balwyn reported 13 bought from a reported 15 auctions. Brighton had 9 bought from 16 and Toorak and <a href="/news">South Yarra</a> just 7 from 12.
So how long will it last?
This is my potted history of Chinese involvement in Melbourne’s property market.
1973: I went to Camberwell Grammar in the early 1970s (I’m not sure they want me to advertise that fact – it could be bad for new enrolments). Camberwell Grammar is in Balwyn and a number of my classmates at that time were Chinese.
1983: Chinese start buying into Doncaster and Box Hill, which were then more affordable suburbs. I grew up in Doncaster.
1993: After economic reforms start having an impact in China, wealthy overseas Chinese start buying into premium Melbourne suburbs such as Balwyn and <a href="/news">Canterbury</a>. Why? Private schools. Chinese people want to give their children the best education (see 1973) and now a few could also afford to buy a home near the schools of their choice such as Carey, MLC, Scotch and Camberwell Grammar. But it was still difficult under Australian buying laws for overseas people.
2000: With restrictions on what Chinese people could buy and Chinese wealth increasing, off the plan properties became popular for many Chinese buyers. There were very few restrictions on Chinese people buying new properties and Chinese people were used to buying new apartments. High rises went up left, right and centre in Melbourne, many on the back of Chinese money.
2005: Chinese wealth had increased dramatically over the last two decades and as Chinese buyers became wealthier they also became more sophisticated in their knowledge about Melbourne properties and Toorak became a place where land banking became popular. It still is today.
2009: Australian government changes the laws making buying “second-hand” family homes in Australia a lot easier for Chinese people. This one decision really brought the inner Melbourne property market out of the GFC a lot quicker than other countries.
2013: By this time, every one of the bigger buying or selling real estate agencies, ourselves included, has at least one Mandarin-speaking staff member.
2014 : At this weekend’s Super Saturday, 40% of our Top 10 $3m+ sales were in Balwyn, rather than Toorak or Brighton.
So in my 55 year history I have seen this equation of simple demand (increasing Chinese buyers) versus supply (no new land in inner Melbourne) push prices up and up and up. I cannot see anything changing anytime soon. So waiting for the market to turn in 1970, 1980, 1990, 2000 and 2010 hasn’t in my mind proven to be a winning strategy. If you see the right home for you (emotionally, physically and financially) then you should buy it now.
You may be interested to know that for a number of our Chinese clients, one of the reasons we are engaged is that they are concerned what other Chinese buyers may do and they don’t want to miss out.
Auctions in Bayside see around half  the number of people attending as in Boroondara. A good auction in Brighton has 40 people while in Kew it would be 80. The Chinese community is nowhere near as well established in Bayside as it is in Boroondara.
Why not? There are some great private schools in Bayside! St Leonards, Haileybury, Caulfield Grammar.
Its a historical thing. But you can see more and more Chinese people considering say other areas such as Brighton when:
<ul>
<li>Chinese people become more comfortable with Bayside as a place to live, and</li>
<li>Demand in Boroondara and then Stonnington forces some Chinese people to consider other options.</li>
</ul>
Over time the Chinese community demand and supply equation will have the same effect in Bayside as it has had in Boroondara, unless China’s wealth begins to diminish.
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maljames-vHwm28JUAa

Chinese buyers in Melbourne: A simple case of supply and demand

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A retail property in the heart of Melbourne's popular shopping district Brighton has fetched $1.3 million at auction.
Three bidders battled it out for Shop 1, 72-74 Church Street, with the end buyer being a local resident. 
The property is used for the sale of stationery and printing services and consists of a single-level brick building of about 127 square metres. It also includes a mezzanine office area accessed via internal staircase. The sale is subject to a new 5+5+5-year lease from January 2014 to established business Bizworks, returning $60,000 plus outgoings and GST.
Fitzroys senior associate Mark Talbot was the selling agent.
“In comparing the recent sale of 46a Church Street, which sold for $3.2 million on a yield of 2.6%, this sale presented excellent value and future growth,” he said.
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