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.

Joel Robinson

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.

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[smartcode_project_cta:default project_id=152737]

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Nova Rêve arrives as Reve Group bets on Castle Hill's next growth phase

A collection of just 25 large-format apartments and penthouses overlooking Goodwin Park is entering the Coolangatta market, with <a href="https://www.apartments.com.au/new-apartments/marea-residences-coolangatta-27-27a-dixon-street-coolangatta-qld-4225">Maréa Residences</a> combining a low-density, residential-only approach with uninterrupted park and Pacific Ocean outlooks.

Located at 27 Dixon Street, Maréa comprises three and four-bedroom residences alongside a limited number of dual-level penthouses, with the project positioned between Goodwin Park and <a href="https://www.apartments.com.au/developments/coolangatta-qld-4225">Coolangatta</a>’s coastal precinct.

Construction has commenced, with completion currently estimated for late 2027. Three-bedroom residences are priced from $1.8 million.

[smartcode_project:default project_id=150999 project_image_fid=374005]

The project has been designed around its northern outlook across the park, with the building’s architecture, landscaping and material palette intended to establish a connection with the neighbouring green space. The residences have been configured to maximise natural light and views across Goodwin Park towards the ocean.

Inside, the material palette incorporates timber, stone and brushed brass, complemented by curved detailing and ambient lighting. Kitchens and bathrooms carry the same natural material approach, while residences also include basement parking, storage and lift access.

Maréa’s penthouses are arranged over two levels and include private pools, adding another layer to the project’s focus on larger-format apartment living. Across the development, residences are configured with three or four bedrooms rather than the broader mix of smaller apartment types commonly found in larger projects.

[smartcode_project:default project_id=150999 project_image_fid=374010]

Resident amenity is concentrated at rooftop level, where landscaped entertaining terraces and pools take advantage of elevated views across Coolangatta and the Pacific Ocean.

The project has so far been particularly well received by local owner-occupiers and downsizers, according to Urban Activation Property Sales and Marketing Director Matt George, with the residential-only format, construction quality and northern park outlook among the features resonating with purchasers.

“The uninterrupted northern aspect overlooking Goodwin Park has been a key point of difference, with buyers attracted to the sense of serenity and open space the park provides, while still enjoying easy access to the ocean and being within walking distance of the lifestyle and amenities Coolangatta has to offer,” George said.

[smartcode_project:default project_id=150999 project_image_fid=374002]

“The combination of high-quality construction, a residential-only building, park outlook and proximity to the beach has resonated strongly with the local downsizer market.”

The Dixon Street address is within walking distance of Coolangatta Beach and the broader southern Gold Coast coastline, including the surf breaks at Snapper Rocks and Kirra. Coolangatta’s cafés, restaurants and retail are nearby, while Gold Coast Airport is also within close proximity.

[smartcode_project_cta:default project_id=150999]

Maréa Residences brings parkside apartments to Coolangatta

Melbourne developer PDG has secured Victorian Government approval for its $1.5 billion Southbank development <a href="https://www.apartments.com.au/new-apartments/the-one-1-queens-bridge-street-southbank-vic-3006">The One</a>, clearing the way for the long-dormant riverfront site opposite Crown to finally be developed.

The Minister for Planning has approved the project at 1-29 Queens Bridge Street, with the Department of Transport and Planning issuing the planning permit following its assessment.

The approval will allow PDG to develop the prominent 5,059 sqm site with a major mixed-use tower comprising premium apartments, including branded residences, a luxury hotel and boutique office space.

PDG acquired the site in late 2024, with its position directly opposite Crown's main entrance and near Melbourne's Arts Precinct making it one of Southbank's most significant remaining development opportunities.

<img alt="PDG" data-entity-type="file" data-entity-uuid="3933013e-6332-4386-b9be-089df05caf17" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-27%20at%209.29.22%E2%80%AFAM.png?VersionId=sITIgBqDL0N3VNSMwWEmF5UA.uvcsRyu" />

Designed by COX in collaboration with ODO and PDG, the tower's architecture draws on the movement of the Yarra River, with six vertical pleats running the height of the sculpted facade.

The project will also see the heritage-listed Queens Bridge Hotel restored and incorporated into the development&nbsp;with new hospitality and public uses, including a rooftop venue.

A significant component of The One will be its residential amenity.

More than 5,000 sqm of resident facilities will be delivered across a single level, making it one of the largest consolidated residential amenity offerings proposed in an Australian apartment development.

The planning approval also incorporates a major upgrade of Queensbridge Square, which PDG will deliver in partnership with the City of Melbourne.

<img alt="PDG" data-entity-type="file" data-entity-uuid="73167fcd-1031-4b6f-a408-a064cfe45ed1" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-27%20at%209.29.17%E2%80%AFAM.png?VersionId=Pf1AEWxw6SNmBqR0zQW5lyEze.MtxgFp" />

The existing square will be revitalised as a new civic and pedestrian space along the Yarra River, strengthening the connection between the project, Southbank and the riverfront.

PDG Founder and Managing Director Vince Giuliano said the approval represented a major milestone for a site which has remained largely underutilised for more than 15 years.

“This is the most significant Planning Permit approval Melbourne has seen in recent years,” Giuliano said.

“For more than 15 years, this site has remained underutilised. This approval enables us to deliver a project that will contribute meaningfully to the revitalisation of Southbank, restore and reactivate an important heritage building, and create a new civic and hospitality destination for Melbourne.”

The latest approval follows an earlier planning permit issued by the City of Melbourne covering demolition works across part of the site at 9-29 Queens Bridge Street. Those demolition and early works are already underway.

PDG has also started generating early interest in the residential component from owner-occupiers ahead of a planned public launch in early 2027.

PDG secures approval for $1.5bn Southbank apartment development, The One

Local developer Harridan is seeking to turn its Woolloongabba apartment project into the first stage of a broader transformation of Burke Street, using a new 16-storey mixed-use building to establish a greener pedestrian connection toward the rapidly evolving Boggo Road transport and knowledge precinct.

The South East Queensland developer has filed plans for 154 apartments on the <a href="https://www.apartments.com.au/new-apartments/4-burke-street-woolloongabba-qld-4102">southern side of Burke Street</a>, where its proposal has been designed alongside a wider vision by LatStudios for the street.

That vision positions the southern side of Burke Street for buildings of 15 storeys and above, while envisaging lower-rise development of up to five storeys on the northern side to transition into Woolloongabba's existing character housing. It also proposes wider pedestrian verges, deep planting, new street trees and upgrades to the pedestrian approach to Boggo Road Station.

The Harridan development itself has been designed by Brisbane-based Arqus Design and will comprise 154 apartments across 16 storeys. The mix is weighted heavily toward two-bedroom apartments, with 121 proposed alongside 10 one-bedroom and 23 three-bedroom residences. There will typically be around 14 units per floor.

A lower-ground car park and three podium levels will accommodate 156 resident parking spaces, along with visitor and commercial parking. There will also be 154 resident bicycle spaces and 40 visitor bicycle parks.

&nbsp;

Harridan is a family-owned developer and part of the Holmwood Highgate Group, with more than three decades of development activity across South East Queensland. Its portfolio spans residential, commercial and industrial property, with current residential projects including Riverbank on Byron in Bulimba, Esperance Residences in Carina and The Precinct at Kinross Road in Thornlands.

Wooloongabba has been popular for apartment developers, particularly since the announcement of the 2032 Summer Olympics games in Brisbane.

While there have been a lot of development applications, it has failed to materialize into real supply.&nbsp;

Sarazin has been the major player in the area. They are under construction at Murcia Residences, on the fringe of East Brisbane and Woolloongabba. They have just launched <a href="https://www.apartments.com.au/new-apartments/the-stanley-residences-woolloongabba-8-trafalgar-street-woolloongabba-qld-4102">The Stanley Residences</a>, in Woolloongabba on Trafalagar Street. They also have Nuage coming soon on the nearby <a href="https://www.apartments.com.au/new-apartments/nuage-woolloongabba-14-wellington-road-woolloongabba-qld-4102">Wellington Road</a>.

First look: Harridan plans Burke Street transformation beside Boggo Road transport hub

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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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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kjiminez-eaYKfU7qd2

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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