<a href="https://www.apartments.com.au/developers/far-east-consortium">Far East Consortium</a> is preparing to commence construction on <a href="https://www.apartments.com.au/new-apartments/640-bourke-street-melbourne-640-bourke-street-melbourne-vic-3000">640 Bourke Street</a> this October, marking the next milestone for the Melbourne CBD development and its higher-end Eliza Collection.

Spanning levels 44 to 68 of the 68-storey <a href="https://www.apartments.com.au/architects/rothelowman">Rothelowman</a>-designed tower, the Eliza Collection has been conceived as a lower-density offering within the broader development, with only five apartments on each floor, dedicated lift access and a collection of resident spaces reserved exclusively for Eliza Collection residents.

The Eliza Collection forms part of Far East Consortium's broader move toward larger-format residences at 640 Bourke Street, where the number of apartments was reduced from earlier plans as apartment sizes increased.

[smartcode_project:default project_id=509 project_image_fid=365685]

"What it's meant for 640 Bourke is we've actually reduced the number of apartments. We've increased the overall size of the apartments. We don't have any studios in here, and what that does for a project is it elevates it," Far East Consortium Director of Sales and Marketing Lauren Sheldon said.

Rothelowman Associate Jun Chang said the design process provided an opportunity to create more generous floorplans.

"We were given the opportunity to be more generous. The apartments became bigger and squarer than any other apartments which had been designed in the CBD before that."

[smartcode_project:default project_id=509 project_image_fid=368869]

That thinking carries through to the Eliza Collection, where the residences have been designed around the space and functionality associated with a larger home, but positioned high above the centre of Melbourne.

Kitchens are equipped with Gaggenau appliances, a butler's pantry, temperature-controlled wine cabinet and sculptural pendant lighting, while engineered timber flooring, stone and porcelain finishes and custom cabinetry feature throughout the broader interiors.

Privacy and security are another point of distinction. Eliza Collection residents have dedicated lift access, while 640 Bourke Street will provide concierge services and secure resident parking. Short-stay accommodation, including Airbnb, will not be permitted within the development.

[smartcode_project:default project_id=509 project_image_fid=365689]

Eliza Collection residents will also have exclusive access to selected amenity spaces across levels one and three of the restored Eliza Tinsley building. These include the Salon with grand piano, an art therapy room, private dining rooms and treatment rooms.

They sit within more than 3,000 sqm of amenity planned across 640 Bourke Street, alongside facilities including a pool, gym, whisky lounge and further social and wellness spaces.

The Eliza Tinsley building itself is central to the wider project's identity. Rather than treating the existing Eliza Tinsley façade as a separate element, Rothelowman used it as a starting point for the architecture of the new tower, with the historic building to accommodate the project's gallery and lobby.

"It's a significant asset and wants to be celebrated and experienced by all residents every single time they go in and out of the building," Rothelowman Principal Stuart Marsland said.

[smartcode_project:default project_id=509 project_image_fid=368872]

The tower will rise behind the retained heritage building at 640 Bourke Street, placing residents within walking distance of Southern Cross Station, Flagstaff Gardens, Queen Victoria Market and the Docklands waterfront.

With construction scheduled to begin in October, Far East Consortium has established an onsite display gallery at 640 Bourke Street, including fully built apartments that allow the project's layouts, materials and finishes to be inspected at full scale.

A fully built Eliza Collection apartment is also available to view at the display suite by appointment ahead of the planned October construction commencement.

Eligible purchasers who buy before construction commences can secure the full available off-the-plan stamp duty savings, subject to eligibility and applicable conditions.

[smartcode_project_cta:default project_id=509]

Joel Robinson

Far East Consortium brings Eliza Collection to 640 Bourke Street ahead of October construction start

By the time S&amp;S Projects began planning <a href="https://www.apartments.com.au/new-apartments/radia-rainbow-bay-271-boundary-street-coolangatta-qld-4225">Radia</a>, the developer already had three Rainbow Bay projects from which to draw.

Flow, Awaken and Esprit had given <a href="https://www.apartments.com.au/developers/ss-projects">S&amp;S Projects</a> experience developing in the southern Gold Coast enclave, as well as buyer feedback that could be carried into its fourth project, a boutique collection of 38 residences at 271 Boundary Street.

“We have experienced a lot of success in this location and as this was our fourth building we had taken all of the learnings and buyer feedback from previous projects to arrive at a design and apartment mix that we believe had captured all of that experience and remained a true S&amp;S Project in its design and amenity,” the developer said.

That experience has translated into a collection of two, three, four and five-bedroom residences including two penthouses positioned on an elevated corner in Rainbow Bay, where the site opens to multiple coastal view corridors and the area's distinctive north-facing bay.

[smartcode_project:default project_id=140491 project_image_fid=284542]

S&amp;S Projects says the Boundary Street site took years to assemble, having previously comprised six units, a house and a duplex. The developer worked individually with the existing owners to bring the properties together after an earlier attempt to sell the site had been complicated by the number of parties involved.

“We are constantly looking for properties that meet our brand standards of location, views, and sites that are rare with unique aspects that we can develop to maximise the lifestyle of residents who live in our buildings,” S&amp;S Projects said.

The Boundary Street site gave <a href="https://www.apartments.com.au/architects/cottee-parker-architects">Cottee Parker</a> a different set of conditions to work with.&nbsp;

“Our design brief was to design a building that took advantage of its unique elevated corner siting offering a range of spectacular view corridor opportunities,” Cottee Parker said.

“The design had to reinforce the strong brand pillars of S&amp;S which are quality, luxury and superior resident amenity.”

[smartcode_project:default project_id=140491 project_image_fid=284543]

Cottee Parker responded with a sculptural floorplate and strong horizontal banding, with continuous balconies and landscaped planters wrapping the building. Operable screens along the balcony edges allow residents to manage light and shade while creating an additional layer of pattern across the facade.

The tower rises above a heavily landscaped podium incorporating the entry lobby and recreational level, while the broader architectural expression takes cues from Rainbow Bay's coastal environment through its organic forms and light material palette.

Cottee Parker says the design has also been developed to complement S&amp;S Projects’ three previous Rainbow Bay developments while retaining its own architectural identity.

Inside, the residences continue that coastal response through two interior schemes centred on warm timbers and neutral tones, alongside patterned natural stone and fluted detailing.

Floor-to-ceiling sliding glass doors connect open-plan living areas to wraparound balconies, while natural stone is used across benchtops, splashbacks and bathroom walls. Specifications also include light-washed timber flooring, gas fireplaces, integrated bar and wine fridges, freestanding stone baths and 100 per cent wool carpet.

[smartcode_project:default project_id=140491 project_image_fid=284559]

Cottee Parker Director Sandra Brown said the intention was to create an architectural response closely connected to its surroundings.

“Imagine architecture that breathes with the rhythm of nature, where every curve and line flows seamlessly – creating spaces that dance with the elements, where sunlight kisses every surface and the gentle sea breeze fills every space,” Brown said.

The lessons S&amp;S Projects carried into Radia also extend to its resident amenity, with a substantial collection of shared facilities planned for just 38 residences.

A dedicated Residents Club will include a lap pool and spa, gymnasium, ice bath, sauna, steam room and hot rocks sauna. A residents' lounge, private dining room, outdoor dining and barbecue area and business centre are also planned, along with storage and dedicated surfboard and beach lockers.

S&amp;S Projects Founding Director Paul Gedoun said the facilities were also designed around the project's Rainbow Bay setting.

“Each amenity is designed to capitalise on the lifestyle of Rainbow Bay, ensuring residents can enjoy the relaxed coastal experience the enclave is famous for,” Gedoun said.

[smartcode_project:default project_id=140491 project_image_fid=284555]

<a href="https://www.apartments.com.au/project-marketer/pezet-matheson">Pezet Matheson</a> says purchasers to date have predominantly included local downsizers, interstate lifestyle investors and families, alongside a strong contingent of repeat S&amp;S purchasers.&nbsp;

According to the project sales team, feedback has centred on the natural stone and joinery, generous floorplans, natural light and the ability for residences to capture views in multiple directions. The completed Flow, Awaken and Esprit developments have also provided prospective purchasers with an existing reference point for S&amp;S Projects' delivery in Rainbow Bay.

There has also been interest from high-profile surfers and people connected to the surf community, with the elevated building providing outlooks towards several of the area's recognised surf breaks.

Radia continues S&amp;S Projects' concentration of development in a tightly held part of the southern Gold Coast, close to Rainbow Bay Beach, Snapper Rocks, Duranbah Beach, Greenmount Beach and the Tweed River. The neighbourhood also includes a growing collection of hospitality venues, while Coolangatta Airport provides connections beyond the southern Gold Coast.

Hutchinson Builders is now delivering Radia, continuing the project from early works privately funded by S&amp;S Projects. The $250 million development is expected to reach completion in the third quarter of 2027.

“With our history in Rainbow Bay, we have been fortunate to be heavily involved in how the development landscape has unfolded and this project slides into the property landscape comfortably and will feel like it was always there,” the developer said.

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How three Rainbow Bay projects shaped S&S Projects' fourth, Radia

Nearly 40 years after <a href="https://www.apartments.com.au/developers/sheida-group">The Sheida Group</a> began working on the northern Gold Coast, the family-owned developer is continuing its involvement in Hope Island with Marina Point Apartments, where apartment scale has been a central part of the development.

Across the 235-apartment waterfront community, the developer has prioritised larger floorplans, substantial open space and marina access, responding to a purchaser base that has predominantly comprised local owner-occupiers and downsizers moving from larger homes.

"Having already delivered Anchorage nearby, we also understood this particular market and how people live here," developer Rick Sheida said.

"<a href="https://www.apartments.com.au/new-apartments/marina-point-apartments-hope-island-66-view-line-terrace-hope-island-qld-4212">Marina Point&nbsp;Apartments</a> gave us the opportunity to build on those lessons and create the next evolution of our work in Hope Island."

[smartcode_project:default project_id=136992 project_image_fid=293151]

The Sheida Group acquired the Marina Point land around 2018. Its appeal, Sheida says, went beyond having a waterfront address.

"What attracted us was not simply that the site was waterfront, but the way it meets the water," he said.

"It sits at the junction of broad waterways, creating long sightlines, changing views and a sense of movement throughout the day. Its shape also allowed us to orient the buildings outward, improve privacy between residences and make better use of natural light and breezes."

The buildings have subsequently been positioned around the perimeter of the site, allowing most apartments to take in water views while others look across the resort amenity or hinterland. Once all four buildings are complete, approximately one hectare of the site is expected to remain as open space.

The waterfront also provides the potential for up to 50 marina berths, with berths ranging from 15 to 24 metres and options designed to accommodate wider vessels including catamarans. Access from the marina to the Gold Coast Seaway is bridge-free.

[smartcode_project:default project_id=136992 project_image_fid=293149]

The developer says purchasers to date have predominantly been owner-occupiers and downsizers from <a href="https://www.apartments.com.au/new-apartments/marina-point-apartments-hope-island-66-view-line-terrace-hope-island-qld-4212">Hope Island</a> and elsewhere on the Gold Coast, generally aged between 45 and 70. Many have sold larger family homes or properties requiring significant upkeep.

That purchaser profile informed a design brief centred on retaining the space and functionality of a larger home within an apartment format.

"Many of our buyers are coming from large, well-appointed homes in Sanctuary Cove and the surrounding area," the project team said.

"They are accustomed to generous spaces and thoughtful design, so it was important that the apartments delivered the same sense of comfort and functionality.

"Every room needed to feel well proportioned, every space needed a clear purpose and nothing could feel compromised."

Residences range from 139 sqm through to 319 sqm penthouses, with two car spaces provided to apartments and three to penthouses. Minimum 2.7-metre ceilings, floor-to-ceiling glazing, entertainer's kitchens with butler's pantries, substantial storage and balconies ranging from 18 sqm to 37 sqm further reflect the emphasis on space.

One purchaser from Sanctuary Cove has taken the concept further, combining two of Marina Point's largest apartments to create a 552 sqm residence with raked ceilings reaching up to 4.5 metres.

[smartcode_project:default project_id=136992 project_image_fid=293155]

With Building 1 now complete, the developer is also seeing its original design assumptions tested against purchaser feedback.

Three completed display residences allow prospective purchasers to compare apartment sizes, layouts, finishes and outlooks in person. The sales team says one of the most consistent responses has been to the scale of the apartments, with visitors describing them as feeling more like homes than conventional apartments.

The first stage of resident amenity is also operational, including a 25-metre heated lap pool, Technogym-equipped gym, infrared sauna, golf simulator and yoga room. Future facilities are set to include a resort-style pool and spa, waterfront barbecue area and a residents' lounge with a library, fireplace, pool table, kitchen and bar.

Rather than treating the four buildings independently, the design brief called for a complete waterfront neighbourhood, balancing private residences with landscaping, open space, marina access and shared amenity.

[smartcode_project:default project_id=136992 project_image_fid=293152]

For Sheida, Marina Point Apartments is ultimately an extension of the developer's longer-term involvement in Hope Island and its view of how the suburb is evolving.

"We were equally interested in the long-term future of Hope Island," he said.

"Its position between Brisbane and the central Gold Coast gives residents access to both, while improving transport connections are making the northern Gold Coast increasingly attractive as a permanent place to live."

Hope Island Marketplace is 1.3 kilometres from Marina Point, while Sanctuary Cove and Paradise Point are within six kilometres. Links Hope Island, The Pines and The Palms golf courses are also nearby, and the new Hope Island train station is under construction around five kilometres from the development.

Building 2 is under construction, with completion scheduled for 2027.

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Marina Point Apartments continues The Sheida Group's 40-year Hope Island story

Sydney-based fund manager and developer EG is seeking to turn part of the former Roche pharmaceutical campus in Cromer into a 130-home residential community, introducing a mix of low-rise apartments, townhouses and duplexes to the tightly held Northern Beaches market.

The SJB-designed masterplan has been prepared for the 3.2-hectare site at <a href="https://www.apartments.com.au/new-apartments/100-south-creek-road-cromer-nsw-2099">100 South Creek Road</a>, part of the former Roche landholding that EG acquired for $55 million in 2017 through its Yield Plus Infrastructure Fund No. 2.

EG is proposing what SJB describes as a new "urban village" set within the site's significant existing tree canopy.

<img alt="Cromer" data-entity-type="file" data-entity-uuid="482c9a58-49f1-4c53-a12e-aaa02336229f" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-24%20at%2011.20.57%E2%80%AFAM.png?VersionId=hZP8_XfPnfNq500dbcjlpVwYU1ebhF9_" />

Around three hectares of the site is considered developable, with the balance incorporating a riparian corridor that would be rehabilitated and revegetated as part of the proposal.

The indicative masterplan comprises approximately 72 apartments in low-rise residential buildings and another 58 townhouses and duplexes.

The apartment component would include around five one-bedroom, 37 two-bedroom and 30 three-bedroom residences, while the townhouse and duplex component would be spread across several different housing typologies. The overall scheme would deliver around 19,500 sqm of gross floor area at an FSR of 0.6:1.

Parking for the apartment component is currently estimated at around 112 resident spaces and 14 visitor spaces, while the townhouse and duplex component would have 116 resident and 12 visitor spaces.

A significant part of the masterplan revolves around retaining the established landscape character of the former Roche campus.

SJB's plans show heavily treed setbacks along both Campbell Avenue and South Creek Road, a centrally located collection of significant native and exotic trees retained as communal open space, and the regeneration of the northern bushland area.

The existing creek corridor along the site's western edge would also be rehabilitated and revegetated, creating additional separation between the new homes and the neighbouring Northern Beaches Business Park.

A heritage-listed cottage and its garden setting would be retained and restored, with SJB flagging its potential adaptive reuse as communal space.

The proposal also includes new communal recreation areas, pedestrian connections to Campbell Avenue and South Creek Road, and a contribution toward improvements to the adjoining Michele Reserve.

Vehicular access would be restricted to South Creek Road, with no vehicle entry proposed from Campbell Avenue. The main internal road would largely follow the site's existing driveway to minimise the impact on established trees.

SJB said residential redevelopment presented an opportunity to retain the majority of the site's heritage-listed mature trees while delivering a broader range of housing types than typically seen across the Northern Beaches.

"The site being 3.27 hectares in area represents one of the largest vacant sites in common ownership in the Cromer and Dee Why area capable of residential renewal," SJB noted in the masterplan.

The architect said the proposal would particularly target housing diversity through townhouses and other "missing middle" typologies suitable for singles, young families, downsizers and retirees.

<img alt="Cromer" data-entity-type="file" data-entity-uuid="e3f5d841-8491-427e-8ada-c70d3d03d6bc" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-24%20at%2011.21.02%E2%80%AFAM.png?VersionId=xTV7r.q8lrTzC9vKzMS9zMbjm9wKwhgm" />

The site emerged following the subdivision of the former Roche campus into eastern and western parcels.

EG has already transformed the western portion into the Northern Beaches Business Park, which incorporates heritage-listed office space, modern warehouses and indoor recreation facilities.

The proposed residential community, referred to as Cromer East in SJB's plans, adjoins established housing to the north, east and south-east, while the business park sits beyond the creek corridor to the west.

It is also within 250 metres of Pittwater House School and Northern Beaches Secondary College, while bus stops within a three-to-five-minute walk provide connections to Dee Why, Brookvale and express services to the Sydney CBD. Cromer Park and the South Creek open space corridor are also nearby.

EG acquired the broader 7.5-hectare former Roche campus in 2017 for $55 million through its Yield Plus Infrastructure Fund No. 2. The campus at the time comprised more than 25,000 sqm of industrial and office buildings set within landscaped grounds.

The current residential site represents the eastern portion of that original holding.

EG's investment strategy for the fund has centred on acquiring income-producing real estate with longer-term rezoning and repositioning potential, particularly assets benefiting from infrastructure and changing land-use patterns.

EG also has an established residential track record across Sydney, including Bosco in Five Dock, Tempo in Drummoyne, The Flour Mill in Summer Hill and Pindari in Randwick.

The developer says it has delivered more than 1,000 homes to date, with a further 3,000-plus residences across its development pipeline.

First look: EG plans 130 apartments on former Roche pharmaceutical campus in Cromer

<a href="https://www.apartments.com.au/developers/s-p-setia">SP Setia</a> has lodged plans for a $750 million, three-tower mixed-use precinct that would complete the long-running redevelopment of Carlton's former Carlton United Breweries site.

The proposal at <a href="https://www.apartments.com.au/new-apartments/185-195-queensberry-street-carlton-vic-3053">46-78 Bouverie Street and 185-195 Queensberry Street</a> spans a 6,468 sqm site, the last remaining undeveloped parcels within the former brewery's 2007 masterplan.

Designed by <a href="https://www.apartments.com.au/architects/cox-architecture">COX Architecture</a>, the development will comprise two purpose-built student accommodation towers and a third build-to-sell apartment tower above a shared commercial podium and basement.

Across the three towers, SP Setia is proposing 606 build-to-sell apartments and 1,499 student accommodation units containing 2,009 beds.

The apartments will sit in the tallest tower, which will rise nearly 200m and 55 storeys. It will become&nbsp;one of the more substantial new build-to-sell apartment projects at the northern edge of Melbourne's CBD.

The apartment mix is weighted toward smaller inner-city product, with 188 studios, 206 one-bedroom apartments, 192 two-bedroom apartments and 20 three-bedroom apartments

<img alt="First look: SP Setia plans three-tower finale for Carlton’s former CUB precinct" data-entity-type="file" data-entity-uuid="8271bc87-1b0a-41b7-ac73-a425ee375261" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/3_2.png?VersionId=G4lw23o90B1boX4k4dj7rdz2ZEajS9wy" />

Part of the precinct will be a large-scale&nbsp;3,684 sqm supermarket and a further 2,198 sqm of speciality retail, creating close to 5,900 sqm of new commercial space within the precinct.

But one of the biggest components of the proposal is what sits between the buildings.

Around 4,650 sqm, or roughly 72 per cent of the site, will be publicly accessible open space, incorporating plazas, pedestrian connections, landscaped laneways and retail spill-out areas.

The ground plane is intended to finally complete pedestrian connections envisaged when the CUB masterplan was first approved nearly two decades ago, stitching together Victoria Street, Queensberry Street, Bouverie Street and Swanston Street through the former brewery precinct.

Urbis said the development would "complete the CUB precinct", with the public realm providing important north-south and east-west connections through what is currently the final undeveloped portion of the masterplanned site.

SP Setia is also exploring a new linear park within the Bouverie Street road reserve, with the concept to be developed further with the City of Melbourne through the planning process.

The proposal is being pursued through the Victorian Government's Development Facilitation Program under Clause 53.23 for significant residential development with affordable housing.

The planning report acknowledges the proposed heights exceed those contemplated under the original Comprehensive Development Plan and masterplan, but argues the built-form context has changed considerably over the past two decades.

Urbis said the three towers would instead create a stepped transition between Carlton and the Hoddle Grid, rising progressively from the 94.1-metre Tower One along the Queensberry Street edge to the 199.44-metre Tower Three closer to the established CBD-scale buildings to the south.

<img alt="SP Setia" data-entity-type="file" data-entity-uuid="e885a07a-592c-40fc-bf82-e6dbaf32da54" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-21%20at%208.52.24%E2%80%AFAM.png?VersionId=7s_ErUkSKAdY1mAWp3GRZgMNCGtwhk5m" />

SP Setia plans to deliver the development across three stages.

Stage One would deliver the basement, podium and retail areas for the entire precinct alongside the first student tower. Tower Two would follow in Stage Two, before the 606-apartment Tower Three is delivered as the final stage.

If approved and delivered, the project would close out a redevelopment process that has been underway since the former brewery masterplan was approved in 2007, adding more than 2,600 student beds and apartments to a precinct already home to Swanston Central, the Barak Building, RMIT Design Hub and several large student accommodation developments.

&nbsp;

&nbsp;

SP Setia plans three-tower finale for Carlton’s former CUB precinct

Brisbane

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Centuria Property Funds Limited (Centuria) has sold 19 Corporate Drive in Cannon Hill, an A-grade office building in Brisbane’s inner city, for $36.95 million following a campaign that generated strong buyer interest.
Sydney-based syndicator Aviator Capital was the successful buyer. It was Aviator’s third acquisition within the Brisbane market.
Completed in 2008, the two-level commercial building comprises 6,028 sqm of A-grade office accommodation strategically positioned six kilometres from the Brisbane CBD in the tightly-held Southgate Corporate Park.
“The property was originally purchased in December 2012 for $23.30 million and the Fund’s investment rationale since commencement was to provide investors with stable, high yielding and diversified income returns from a quality commercial office property situated in one of Brisbane’s most prominent growth corridors," Head of Real Estate and Funds Management, Jason Huljich said.
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“The gross sale price achieved was approximately $5.1 million or 17% in excess of the December 2018 valuation, which is an outstanding result for the Fund.
“In addition, the Fund has yielded an average income return to investors of approximately 10.3% p.a. over the six and a half years.
“This is an excellent result for all investors in the fund,” Huljich said.
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The sale was negotiated by Matt Barker, Justin Bond and Christian Sandstrom of Knight Frank, along with Anthony Ott and Peter Chapple of Savills.
 
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j.ballantyne1990-6AQqhLzZaK

Centuria sells 19 Corporate Drive, Brisbane for $37 million

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Land values across all Brisbane industrial precincts have trended upwards for the past three years, with the average land value increasing 5.3% to $310 per sqm, for the YoY to March 2019. 
As per the latest Colliers International Industrial Research and Forecast Report, Australia Tradecoast (ATC) experienced the strongest growth in land values for the YoY to March 2019, increasing by 9.9% to an average price of $390 per sqm, from $355 per sqm in March 2018. 
“We anticipate that the limited new development supply will continue putting upward pressure on rents in ATC over the next few years,” said Matthew Frazer-Ryan, National Director, Industrial at Colliers International. 
“As at March 2019, average prime grade net face rents are $118 per sqm, the highest out of any other precinct. 
“Average incentives fell by 1.5% to 12.5% for the YoY to March 2019, which usually is a sign of future rental growth for prime grade assets.” 
<a href="https://www.propertyobserver.com.au/images/2019/5/21/brisbane%20industrial%20.jpg" target="_blank">Click here</a> to enlarge:
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Karina Salas, Research Manager at Colliers International said they anticipate Brisbane’s industrial land values will continue to rise over the medium term. 
“This is due to the current and forecast value proposition of the investment achieving solid yield spreads compared to Sydney and Melbourne, of up to 170bp in some instances, and the significant infrastructure investment program under construction in South East Queensland. 
“According to the Brisbane City Council Industrial Strategy 2019, industrial land in the outer Brisbane regions remain under pressure from encroaching residential and other non-industrial uses and has been reduced by 10 per cent in the last five years (2 million sqm of industrial gross floor area). 
“The rezoning of industrial areas is becoming an issue worldwide as population growth continues putting pressure on land availability to meet housing demand and encroaching into industrial-use land. 
“Demand in the Brisbane industrial market continues to transition from traditional manufacturing industrial use to transport and logistics, retail warehousing and mixed industry business precincts. Ecommerce and online retail activity is changing the way the industrial market operates in Australia and Brisbane is not isolated to this trend,” said Mrs Salas.
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Brisbane industrial land values heading north

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Sentinel Property Group has splashed out $103 million on a Brisbane CBD office building - the largest acquisition in its history.
The unlisted real estate investment trust (REIT) bought the building on a net passing yield of 7.85%.
Makerston House at 30 Makerston Street, Brisbane is on an approximately 1,796 square metre site area with about 14,640 square metres of net lettable area over 14 levels.
It is located opposite the Queensland Police Service headquarters and 50 metres from the Brisbane Transit Centre.
The building has a 5 Star NABERS Energy rating and is 100% leased with a 4.63 year weighted average lease expiry (WALE).
The property is leased to the Queensland Government as well as various state government corporate entities.
The building is well positioned within the city, Sentinel Property Group Managing Director Warren Ebert said.
 “This is a fantastic acquisition for Sentinel and is our biggest purchase since the Group started 10 years ago,” Ebert said.
“Makerston House is a tremendous asset that is in the heart of a precinct accommodating the state’s critical legal infrastructure and services, including the Queensland Supreme Court and District Court and the Brisbane Magistrates Court.
“The building is opposite the Queensland Police Headquarters and just 50m from Roma Street Train Station, the only existing CBD railway station that will link to the high capacity Cross River Rail.”
Ebert said Sentinel was excited to make Makerston House the 10th addition to the Sentinel Regional Office Trust.
The Sentinel Regional Office Trust also comprises 11 Argyle St, Newcastle, The CasCom Centre at Casuarina in Darwin, 200 Creek St, Brisbane, 8 Buller St, Port Macquarie, Jacana House and Arnhemica House in Darwin, 139 Grafton St, Cairns, and Central Plaza and River Quays in the Townsville CBD.
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Sentinel secures Makerston House in Brisbane CBD for $103 million

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Brisbane first home buyers will have their rates cut following the budget announced last week by the Lord Mayor Adrian Schrinner.
Overall residential rates will increase <a href="/news/qld/queensland-budgets-hits-property-owners-with-higher-taxes">on average by 2.5 per cent</a>.
Cr Schrinner said the budget included a new assistance package for first-home buyers, who will be given a one-off 50 per cent rates reduction if their property is valued at less than $750,000 – with the total saving capped at $1000.
Cr Schrinner said that the move would ensure “targeted cost-of-living relief” at a time when residents were often stretched with their finances.
“Just when you think you’ve paid all of the one-off expenses to get into your new home, another unexpected bill always seems to come along,” he said.
“We recognise how important home ownership is and we want to see more ­people getting into the market and owning a piece of Brisbane to call their own.”
“The budget outlines plans to get people home sooner, to build a better Brisbane and protect our lifestyle with ­unprecedented investment in growing our city’s green space,” he said.
More Queenslanders are deciding to renovate homes rather than sell, with the state government budget calculating purchases are expected to fall 5.5 per cent in the 2018-19 financial year and dipping a further 3 per cent in 2020-21.
Stamp duty revenue expectations are down with residential returns likely to fall 13 percent this financial year and 15.6 percent in 2019-20. 
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jonathanchancellor-7SQnKwU6yx

Brisbane FHBs to get reduction in first year council rates 

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Consolidated Properties Group has sold the management rights to its award-winning Spire Residences in the heart of the Brisbane CBD.
The deal included eight apartments.
The buyer was a private consortium of Queensland-based investors.
The $9 million off-market deal, which has just settled, included the caretaking rights to the building and its grounds over the next 23 years and a property management rental roll of more than 200 apartments.  
The consortium also secured another eight apartments, which will be added to the rental pool. 
In total, the 40-level Spire Residences, at 550 Queen Street, features 340 one and two bedroom apartments, along with on-site facilities including a roof-top infinity edge pool and entertainment deck, gym, cinema and library. 
The building was completed in September 2017 and was recognised with a suite of design and architecture awards last year, including the Residential Architecture - Multiple Housing accolade at the Queensland Architecture Awards.
<img src="https://www.urban.com.au/images/2019/5/21/Don%20ORorke%20at%20Spire.png" alt="">
Consolidated Properties Group Executive Chairman Don O'Rorke (pictured above) said the deal was evidence of the continued confidence in the inner Brisbane apartment market. 
"To secure this deal at $9 million is a strong show of faith in Spire Residences and the inner city market," he said. 
"The consortium saw the opportunity the building represented, as one of the few to be completed at the heart of the CBD in recent years, and acted quickly to purchase both the management rights and apartments.
"Spire Residences has been in high demand with renters, particularly young professionals wanting to live and work in the city - so much so that on completion we continued to receive more than 20 new enquiries a week, even after all the available apartments were tenanted."  
O'Rorke said the sale of the management rights would allow Consolidated Properties Group to put its full focus on its pipeline of new projects, including its multi-use urban renewal projects, Cornerstone Living in Sunnybank and Yeerongpilly Green. 
"We felt the time was right to sell this asset and have full confidence in the consortium of investors who have secured the management rights and who share our positivity in the Brisbane residential market," he said. 
<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/2019/5/21/Spire%20Residences%20external%201.jpg" alt="">
Colin Gray, who is part of the private consortium of investors, said the decision to secure Spire Residences' management rights had been an easy one. 
“When the property came up, it took less than an hour to form the view it was a quality management rights business, with a strong return forecast," said Gray. 
"Purchasing the eight apartments for the rental pool is also a show of our confidence to other apartment owners and allows us to demonstrate that, along with the other owners, we too have 'skin in the game'.”   
HWL Ebsworth Lawyers, Pitcher Partners Accountants, Pevy Lawyers and Mike Phipps Finance assisted in the transaction, and Macquarie Bank provided funding for the deal.
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Consolidated Properties Group sells Spire Residences management rights for $9 million

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SPONSORED POST
Key indicators have pointed towards a recent outperformance of expectations for assets located in the Brisbane Uptown precinct. The recent spike in activity has been attributed to trending building upgrades to include shared areas for collaboration and additional building services.
According to <a href="https://www.savills.com.au/research/australian-research.aspx" target="_blank">Savills Research</a>, proactive landlords have enhanced their respective assets by investing significantly through the refurbishment of ground floor lobbies, construction of speculative fit-outs, café amenity space and end of trip facilities.
<a href="https://www.savills.com.au/services-and-sectors/leasing/office-leasing.aspx" target="_blank">Savills Office Leasing</a> Analyst, Hao Chen has identified an uplift in face rents for buildings in this precinct.
“A 5–10% gross face rental growth has been recorded on assets within the Uptown precinct that have undergone capital investment, resulting in a tightening to the overall vacancy factor in the last 12 months,” Mr Chen said.  
Savills Research has recorded an 8.1% drop in vacancy for the uptown precinct in the 12 months to May 2019, currently sitting at 11.9%.
“Landlords who invested into their assets in this precinct last year are now reaping the rewards, providing smaller, agile tenants in the market more favourable office accommodation.”
“Building enhancements and upgrades are becoming an expectation, it seems to be what tenants are looking for and are starting to ask about the buildings capital works plans if the building is starting to look tired upon inspection,” Mr Chen said.
These upgrades form part of landlords’ long-term leasing strategies to add value and enhance the tenant experience, incorporating strategies not only to attract tenants but to also retain them following initial lease expiry.
Mr Chen reports that landlords are strategically repositioning their assets in the market to create a highly desirable commercial address, which incorporates modern design elements and market leading architecture.
In addition to many obvious foyer and end-of-trip facility upgrades, environmental factors are also being considered which include the installation of energy efficient lighting to reduce energy usage and water consumption technology. 
Daniel Paxton of <a href="https://www.savills.com.au/services-and-sectors/leasing/office-leasing.aspx" target="_blank">Savills Office Leasing</a> said that one of the best examples of this trend has been evident with the ISPT upgrades at 100 Creek Street which has resulted in a 25% vacancy reduction. 
“Over the past 12 months, ISPT have staged their upgrade processes to not only ensure they capitalise on a premium product offering, but integrate the re-set into the larger marketing and leasing strategy for the building,” Mr Paxton said.
The significant transformation of 100 Creek Street included not only the upgrade of lobby, lifts and end of trip facilities but also the first of its kind digital canvas centrepiece wrapping around the lift core.
Its design inspiration was aimed at reconnecting tenants to the city’s subtropical surrounds. It features double height pivot door technology, with the lobby opening up to seamlessly meet the city streetscape and embrace the Queensland climate.
Since June 2018, more than 3,000sq m has been leased at the newly repositioned address, with a flight to quality trend that is being washed through from the bordering financial precinct. 
“100 Creek Street is standing out as a major value proposition for tenants as it offers a sophisticated corporate identity without the Eagle Street price tag,” Mr Paxton said.
Another standout example where refurbishment has been a success is Hines’ enhancements at 348 Edward Street.
With substantial capital invested into building refurbishments and upgrades, enhancements include a new ground floor lobby and foyer to include a café offering, fitted suites, two new chillers and the refurbishment of all lift amenities and on floor bathrooms.
<a href="https://www.savills.com.au/services-and-sectors/leasing/office-leasing.aspx" target="_blank">Savills CBD Office Leasing</a> Executive Daniel Byrne said that in the last 12 months 348 Edward Street has seen a 30% vacancy reduction.
“The primary drivers that have contributed to this take up involve landlords offering ‘plug and play’ suites, the right value proposition and an aesthetic refurbishment upgrade,” Mr Byrne said. 
The retail café offering is strategically repositioned to be the only tenant in the lobby with dual inside-outside trading ability, which has been an investment decision focused on driving rents.  
“They made a decision to be forgoing rental to look after their tenants in terms of giving them better amenity, all contributing to the experience of the destination.
“The lobby is now an extension of the office. Increasingly, building owners are looking for places where employees can work, meet, and relax,” Mr Byrne said.
My Byrne said that since the upgrade, tenants have been increasingly more attracted to the prospect of 348 Edward Street, reflective through increased enquiry and inspections of the building.
These are only two examples of landlords who have led the charge in the refurbishment space and are now being backed by the market with the increasing demand for their new product offerings. 
The future looks bright as the market is now in favour of this movement. Brisbane Uptown precinct assets are paving the way for the future, which in turn will continue to improve amenity supply across the board for all Brisbane occupiers.
Savills is a leading global real estate service provider offering the full spectrum of services from strategic advice to managing assets and projects and transacting deals. Hao Chen, Daniel Paxton and Daniel Byrne are members of Savills QLD Office Leasing team. To learn more about Savills, visit <a href="http://www.savills.com.au/" target="_blank">savills.com.au</a>.
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jrobinson-rf4aSBido9

Brisbane Uptown precinct outperforming expectations: Savills

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The NEXT Hotel in Brisbane has sold to Salter Brothers, formerly the SB&amp;G Group.
The property includes a 304-room hotel operated by NEXT Story Group and a retail component occupying a location fronting Queen Street Mall in Brisbane CBD. 
Melbourne-based Salter Brothers is a global fund manager with a focus on specialist property, credit &amp; private equity, including the ownership of multiple hotel assets in America and Australia.
With the addition of NEXT Brisbane, Salter Brothers hotel portfolio now expands to over 2,400 rooms with seven hotels across Sydney, Melbourne, Canberra, Brisbane and the Gold Coast. 
Tom Gibson, Vice President of JLL’s Hotels &amp; Hospitality Group, together with Simon Rooney, Head of Retail Investments - Australasia for JLL, brokered the deal off-market. 
Simon Rooney said mixed-use CBD retail assets in prime locations are typically tightly-held.
“The asset benefits from its location on one of the strongest retail strips in Australia.
"Retailers continue to seek locations which maximise foot traffic and exposure for their business which ultimately underpins tenant demand for super-prime retail strips and precincts, especially in CBD markets nationally. "
Andrew Quillfeldt, Senior Director of Retail Research for JLL, said, “CBD retail is one of the strongest performing retail sectors at present". 
"It’s supported by positive underlying drivers such as strong residential population growth as a result of the last development cycle, strong white collar employment growth, strong tourism growth and key infrastructure upgrades in most markets.
The combination of factors is driving retail spending and tenant demand within CBD markets. " 
Formerly known as Lennons Hotel Brisbane, the 4.5 star hotel is primed for growth with its close proximity to the $3.6 billion Queens Wharf Casino, the $2 billion Brisbane Live entertainment precinct and the recently opened $200 million Howard Smith Wharves project. 
“This is a timely acquisition for Salter Brothers to enter Brisbane as the market begins to mature with its record wave of private and public demand-supporting projects underway”. Mr Gibson said. 
Brisbane is currently in the midst of a market repositioning.
The city has over $12 billion worth of private and public infrastructure projects including a second runway, new cruise terminal and underground railway projects.
Furthermore, with the addition of new and overdue luxury hotel product, such as the W Brisbane, Westin Brisbane, Calile James Street and Emporium South Bank, the market is establishing itself as a major global gateway city. 
“With Sydney and Melbourne hotel markets becoming increasingly difficult to enter, we are receiving record interest for other core markets that feature attractive short- to medium-term market fundamentals, as evidenced by the recent liquidity seen in Brisbane and Perth.” Mr Gibson said. 
For Year-To-Date through April 2019, the total number of room nights sold in Brisbane has increased by 3.5%, showing the market’s resilience through the addition of new supply. 
] 
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Fund management company Salter Brothers buys NEXT Hotel Brisbane

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Demand for housing in Australia has seen the annual number of apartments constructed <a href="https://rba.gov.au/publications/bulletin/2017/jun/pdf/bu-0617-1-houses-and-apartments-in-australia.pdf">triple since 2009</a>, and just last year apartments accounted for one-third of all residential building approvals. This statistic suggests the need for apartments to possess a competitive edge when vying for potential buyers, so we've rounded up 6 apartments with offer something a little different.

<h2>#1 PET-FRIENDLY APARTMENTS AT <a href="/buildings/banc-527-coronation-drive-toowong">BANC, TOOWONG</a></h2>

Location: 527 Coronation Dr, Toowong

Architect: WMK Architecture

<figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/1519_1.04_exterior_regatta_r004new-e1447644527285.jpg" rel="gallery-all"><img alt="BANC apartments overlooking the river. Credit: WMK Architecture" class="image-article-full-width-580px" height="354" src="/s3/files/styles/article_full_width_580px/public/pictures/article-images/1519_1.04_exterior_regatta_r004new-e1447644527285.jpg?itok=jewpe3MR" title="BANC apartments overlooking the river. Credit: WMK Architecture" width="580"></a>

<figcaption>BANC apartments overlooking the river. Credit: WMK Architecture</figcaption></figure><figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/feats-hero3-banc.jpg" rel="gallery-all" title="The house-sized apartments have been designed to welcome residents with pets. Credit: BANC "><img alt="" class="image-article-full-width-580px" height="260" src="https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/styles/article_full_width_580px/public/pictures/article-images/feats-hero3-banc.jpg?itok=Sa112Gb4" title="The house-sized apartments have been designed to welcome residents with pets. Credit: BANC " width="580"></a>

<figcaption>The house-sized apartments have been designed to welcome residents with pets. Credit: BANC</figcaption></figure>Banc is one of the meagre <a href="https://idealau.com/pet-friendly-apartments-still-a-rare-find-in-brisbane-cbd/">3% of apartments in central Brisbane</a> which allows owners to have pets and has gained significant interest from empty nesters with new four-legged friends in tow.

<blockquote>
“Many of our recent buyers have been mature professionals whose children have left home, so their pets are an important part of the family unit.” 
</blockquote>

- John Li, Ideal Property

The building is situated right on the riverfront, giving residents direct access to great walking tracks and neighbouring parks.

<h2>#2 MOONLIGHT CINEMA AT FV <a href="/buildings/the-flatiron-179-alfred-street-fortitude-valley">FLATIRON, FORTITUDE VALLEY</a></h2>

Location: 179 Alfred Street, Fortitude Valley

Architect: Elenberg Fraser

<figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/fv-completed.jpg" rel="gallery-all" title="FV FLATIRON exterior view. Credit: Elenberg Fraser"><img alt="" class="image-article-full-width-580px" height="782" src="/s3/files/styles/article_full_width_580px/public/pictures/article-images/fv-completed.jpg?itok=feIjOn8D" title="FV FLATIRON exterior view. Credit: Elenberg Fraser" width="580"></a>

<figcaption>FV FLATIRON exterior view. Credit: Elenberg Fraser</figcaption></figure><figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/twe-fv-01-1100x550-c-center.jpg" rel="gallery-all" title="FV's in-house movie theatre. Credit: Gurner"><img alt="" class="image-article-full-width-580px" height="290" src="/s3/files/styles/article_full_width_580px/public/pictures/article-images/twe-fv-01-1100x550-c-center.jpg?itok=aIAcdKXh" title="FV's in-house movie theatre. Credit: Gurner" width="580"></a>

<figcaption>FV's in-house movie theatre. Credit: Gurner</figcaption></figure>The Elenberg Fraser-designed FV FLATIRON has become a landmark in the Brisbane skyline, just like New York’s own Flatiron Building. Inspired by the iconic New York design, Gurner has brought a slice of the big apple to Queensland.

Everything FV has to offer takes apartment living to the next standard of luxury – it’s gym is commercial sized; there are not one, but four pools and among the entertainment offerings is a moonlight cinema complete with luxurious chaiselongs and VIP service.

<h2>#3 FREE SPA TREATMENTS AT BANYAN TREE, KANGAROO POINT</h2>

Location: 48 River Terrace, Kangaroo Point 

Architect: Woods Bagot

<figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/btr_brisbane_aerial_sunset.jpg" rel="gallery-all" title="Banyan Tree Residence aerial view. Credit: Banyan Tree"><img alt="" class="image-article-full-width-580px" height="387" src="/s3/files/styles/article_full_width_580px/public/pictures/article-images/btr_brisbane_aerial_sunset.jpg?itok=C4mvBMNT" title="Banyan Tree Residence aerial view. Credit: Banyan Tree" width="580"></a>

<figcaption>Banyan Tree Residence aerial view. Credit: Banyan Tree</figcaption></figure><figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/153046216.jpg" rel="gallery-all" title="Bayan Tree spa facility. Credit: Accor Hotels"><img alt="" class="image-article-full-width-580px" height="387" src="/s3/files/styles/article_full_width_580px/public/pictures/article-images/153046216.jpg?itok=mjpNMq-G" title="Bayan Tree spa facility. Credit: Accor Hotels" width="580"></a>

<figcaption>Bayan Tree spa facility. Credit: Accor</figcaption></figure>Resort-style luxury is what the Banyan Tree hotel group are known for – so even permanent residents are invited to enjoy the same luxury pampering year-round. All property owners within the complex receive one free spa treatment per month for the first two years, as well as a free week’s accommodation at any Banyan Tree Resort worldwide for the first five years.

<h2>#4 NAUTICAL THEMED AT <a href="/new-apartments/the-boatyard-bulimba-21-byron-street-bulimba">THE BOATYARD, BULIMBA</a></h2>

Location: 21 Byron St, Bulimba

Architect BVN

<figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/download_0.jpeg" rel="gallery-all" title="The Boatyard exterior. Credit: BVN"><img alt="" class="image-article-full-width-580px" height="339" src="/s3/files/styles/article_full_width_580px/public/pictures/article-images/download_0.jpeg?itok=Or9WNxPt" title="The Boatyard exterior. Credit: BVN" width="580"></a>

<figcaption>The Boatyard exterior. Credit: BVN</figcaption></figure><figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/image15-2.jpg" rel="gallery-all" title="The Boatyard's nautical themed interior design. Credit: BVN"><img alt="" class="image-article-full-width-580px" height="327" src="/s3/files/styles/article_full_width_580px/public/pictures/article-images/image15-2.jpg?itok=vqaAVgO6" title="The Boatyard's nautical themed interior design. Credit: BVN" width="580"></a>

<figcaption>The Boatyard's nautical themed interior design. Credit: BVN</figcaption></figure>The Boatyard’s curved white façade and iconic nautical colour palette pay homage to its site’s former boat workshop Norman R. Wright &amp; Son. The maritime theme is complimented with rustic wooden finishes, horizontal lines, curved parapets and even the kitchen cabinetry was designed to resemble the ‘bulkhead’ in boats. Situated right on the marina, The Boatyard also offers five berths available for purchase which fit 55ft boats.

<h2>#5 UNDERWATER SOUNDSYSTEM AT <a href="https://www.lucentgasworks.com.au/location">LUCENT, NEWSTEAD</a></h2>

Location: 18 Longland St, Newstead

Architect: Cavcorp

<figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/lucent.jpg" rel="gallery-all" title="Lucent exterior lobby. Credit: Cavcorp"><img alt="" class="image-article-full-width-580px" height="326" src="/s3/files/styles/article_full_width_580px/public/pictures/article-images/lucent.jpg?itok=ZYu4KXHl" title="Lucent exterior lobby. Credit: Cavcorp" width="580"></a>

<figcaption>Lucent exterior lobby. Credit: Cavcorp</figcaption></figure><figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/screen_shot_2019-04-29_at_3.41.47_pm.png" rel="gallery-all" title="Lucent's 55m infinity pool. Credit: Cavcorp"><img alt="" class="image-article-full-width-580px" height="385" src="/s3/files/styles/article_full_width_580px/public/pictures/article-images/screen_shot_2019-04-29_at_3.41.47_pm.png?itok=RUba7Kyo" title="Lucent's 55m infinity pool. Credit: Cavcorp" width="580"></a>

<figcaption>Lucent's 55m infinity pool. Credit: Cavcorp</figcaption></figure>Known to residents as Club 55, Lucent Newstead is home to Australia’s longest rooftop pool. The 55-metre infinity pool has an in-built underwater sound system so guests can enjoy music while swimming. 

<h2>#6 ORGANIC GARDENING AT <a href="https://www.thejamesteneriffe.com.au/">THE JAMES, TENERIFFE</a></h2>

Location: 217/38 Helen Street, Teneriffe

Architect: Cavcorp

<figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/00449390_img_01_1600x.jpg" rel="gallery-all" title="The James apartment complex exterior. Credit: Cavcorp"><img alt="" class="image-article-full-width-580px" height="386" src="/s3/files/styles/article_full_width_580px/public/pictures/article-images/00449390_img_01_1600x.jpg?itok=She2AExh" title="The James apartment complex exterior. Credit: Cavcorp" width="580"></a>

<figcaption>The James apartment complex exterior. Credit: Cavcorp</figcaption></figure>When you think of apartment-living, tending a vegetable garden doesn’t always spring to mind. Keen to break the trend, The James in Teneriffe will offer its green-thumbed residents the use of an organic communal vegetable garden, where they can harvest premium grade produce year-round. The ground level garden lane also provides residents with a tranquil respite from the busy city for the ultimate subtropical lifestyle.

Lead image credit: BVN
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Olivia Round

Looking for something special in QLD? Here are 6 of Brisbane's unique apartments

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Greater Brisbane’s rental market is slowly changing to favour landlords, with rents rising and yields improving, according to new data from Domain.
The Domain 2019 Rental report found that the extended period of heightened rental supply from 2012 for roughly half a decade appears to be coming to an end.
Tenants will find the rental market is now entering new territory.
Not only will they start to find competition to secure a lease has increased, the choice of available rental stock will be narrowing.
Median weekly rents have already started to climb while the vacancy rate slides.
This turnaround follows almost four years of stagnant rents.
Domain said landlords may start to hike rents as advertised stock dwindles.
For the March quarter, available rentals are at a three-year low.
<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/2019/4/10/brisbane%20.jpg" alt="">
Source: Domain 2019 Rental report 
A three bedroom Petrie Terrace house has been listed for lease with a price of $400 per week (pictured below).
The house at<a href="https://www.realestate.com.au/property-house-qld-petrie+terrace-422931338" target="_blank"> 291 Hale Street</a> comes with high ceilings, polished timber floor, double fireplace in living and kitchen, master bedrooms, two other bedrooms, and alfresco paved area.
It is close to Paddington's shops, cafes, and Suncorp Stadium. 
<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/2019/4/19/petrie%20terrace.jpg" alt="">
A one bedroom Teneriffe apartment has been recently listed for lease with a price of $380 per week (pictured below).
Positioned right on the river, the apartment at <a href="https://www.realestate.com.au/property-apartment-qld-teneriffe-426367870https://www.realestate.com.au/property-apartment-qld-teneriffe-426367870" target="_blank">92/53 Vernon Terrace </a>comes with one bedroom with built-ins, large living area, secure rooftop car space and riverfront pool.
This building is located in the heart of Teneriffe in a garden setting.
<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/2019/4/19/teneriffe.jpg" alt="">
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Brisbane house rents hold at the record high: Domain

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The Queensland-based co-working space and business incubator Little Tokyo Two has been placed into voluntary liquidation.
Its founder and entrepreneur Jock Fairweather sending a message saying the business had become “unsustainable”.
Founded four years ago, Little Tokyo Two (LT2) had five locations across Brisbane and the Gold Coast.
The business was primarily offering a co-working space service to startup founders and aspiring entrepreneurs. However, the business had also recently expanded into offering incubation services and ‘growth plans’ for startups.
In the message, Fairweather said while the incubation offerings had performed well, the co-working model had become unprofitable and criticised new market entrants for “undercutting” prices.
“The business of running a co-working space has been struggling, with increased competition in the market and new entrants, who undercut prices to attract new members,” Fairweather said.
“After stress testing our future financial model and the financial difficulty we have recently faced we have concluded that the viability of the LT2 as a co-working space is an unsustainable option for our future.”
The Courier-Mail reports Brisbane City Council had invested $5 million in innovation hub The Capital, which Little Tokyo Two was a “foundation tenant” of.
The council told The Courier-Mail it was trying to find a new operator to “provide certainty for tenants”.
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