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

Joel Robinson

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

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

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

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

Bottega House secures landmark riverfront site in St Lucia 

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

SIERA kicks off construction at Northcliffe tower Exhale

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

Eastern Suburbs buyers snap up ESTE Little Bay apartments

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. 
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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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