<p>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.</p>

<p>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.</p>

<p>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.</p>

<p>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.</p>

<p>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.</p>

<p><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" /></p>

<p>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.</p>

<p>“Our target for this exceptional development is local and overseas buyers, including first-home buyers, downsizers and investors,” Choong said.</p>

<p>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.</p>

<p>“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.</p>

<p><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" /></p>

<p>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.</p>

<p>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.</p>

<p>The proposal also includes a commitment for 10 per cent of residential floor space to be allocated toward affordable housing through a monetary contribution.</p>

<p>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.</p>

<p><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" /></p>

<p>“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.</p>

<p>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.</p>

<p>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.</p>

<p>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>.</p>

<p><em>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></em></p>


Joel Robinson

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

<p><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.</p>

<p>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.</p>

<p>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.</p>

<p><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" /></p>

<p>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.</p>

<p>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.”</p>

<p>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.</p>

<p><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" /></p>

<p>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.</p>

<p>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.</p>

<p>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.</p>

<p><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" /></p>

<p>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.</p>

<p>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.</p>

<p>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.</p>


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

<p>Bottega House has completed settlement of a landmark riverfront site in Macquarie Street, St Lucia, representing its first major Brisbane development.&nbsp;</p>

<p>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;</p>

<p>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;</p>

<p>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;</p>

<p>Exclusive sales for the project will be led by Keenan &amp; Byrne, ahead of an anticipated launch later this year.&nbsp;</p>

<p>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;</p>

<p>“This is an incredibly rare riverfront opportunity and one we have approached with a long-term perspective,” Malloch said.&nbsp;</p>

<p>“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."</p>

<p>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;</p>

<p>"Demand is expected to be strong given the scarcity of premium riverfront opportunities of this nature within Brisbane’s inner-west."&nbsp;</p>


Bottega House secures landmark riverfront site in St Lucia 

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<p data-end="157" data-start="0">The arrival of the first piling rig officially marks the commencement of construction at SIERA’s new beachside apartment development, Exhale, in Northcliffe.</p>

<p data-end="459" data-start="159"><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.</p>

<p data-end="459" data-start="159">[smartcode_project:default project_id=112661 project_image_fid=359603]</p>

<p data-end="651" data-start="461"><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.</p>

<p data-end="950" data-start="653">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.</p>

<p data-end="1081" data-start="952">“The façade was designed to maximise panoramic coastal views while creating a distinctive architectural identity,” Thompson said.</p>

<p data-end="1081" data-start="952">[smartcode_project:default project_id=112661 project_image_fid=355935]</p>

<p data-end="1307" data-start="1083">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.</p>

<p data-end="1522" data-start="1309">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.</p>

<p data-end="1522" data-start="1309">[smartcode_project:default project_id=112661 project_image_fid=361052]</p>

<p data-end="1714" data-start="1524">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.</p>

<p data-end="1945" data-start="1716">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.</p>

<p data-end="1945" data-start="1716">[smartcode_project:default project_id=112661 project_image_fid=359607]</p>

<p data-end="2220" data-is-last-node="" data-is-only-node="" data-start="1947">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.</p>
</section>
</section>

<p>[smartcode_project_cta:default project_id=112661]</p>


SIERA kicks off construction at Northcliffe tower Exhale

<p data-end="320" data-start="79">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>.</p>

<p data-end="638" data-start="322">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.</p>

<p data-end="864" data-start="640">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.</p>

<p>[smartcode_project:default project_id=112343 project_image_fid=352689]</p>

<p>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.</p>

<p><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."</p>

<p>“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.</p>

<p>[smartcode_project:default project_id=112343 project_image_fid=352687]</p>

<p><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.</p>

<p>“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.”</p>

<p>[smartcode_project:default project_id=112343 project_image_fid=352690]</p>

<p>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.</p>

<p>“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.</p>

<p><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.</p>

<p>[smartcode_project_cta:default project_id=112343]</p>


Eastern Suburbs buyers snap up ESTE Little Bay apartments

Brisbane

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<p>A three-level office building in Brisbane’s inner western suburb of Toowong is up for lease after being given a splash of artwork.</p>
<p>The <a href="https://www.realcommercial.com.au/property-offices-qld-toowong-501803262" target="_blank">555 Coronation Drive</a> office has been given a face lift, with artwork by an Australian artist splashed across the walls of each tenancy.</p>
<p>Four new fitouts are available for lease through Savills and CBRE, who have been jointly appointed on behalf of Centuria. </p>
<p>Leasing agent Peter Dodd of Savills  said they are looking to provide tenants with a ready-to-go workplace.  </p>
<p>“The four tenancies would suit aspirational smaller business that don’t want to be confined by what a traditional office should look like,” Dodd said. </p>
<p>Each tenancy features oversized artwork of the familiar famous faces of Audrey Hepburn, David Bowie, Muhammad Ali, and Prince.</p>
<p><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/2017/10/13/BowieSuite.jpg" alt=""></p>
<p><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/2017/10/13/AliSuite.jpg" alt=""></p>
<p><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/2017/10/13/PrinceSuite.jpg" alt=""></p>
<p>The office spaces range from 145 sqm to 228 sqm, all including boardrooms, kitchen/breakout areas, and 12-17 work stations.</p>
<p>The four office spaces have been designed and furnished to reflect different themes: ‘detailed, fresh, enliven’, ‘enticing, uplifting, contemporary’, ‘welcoming, journey, textured’, and ‘quirky, daring, collaborative’. </p>
<p>“The artwork was completed by Scott Marsh, and we were really excited when Centuria said they were commissioning him to do some art in each tenancy,” Dodd said. </p>
<p>Marsh’s work is known for using a mixture of enamels, acrylics and aerosol, which explores the growing crossover between graffiti and high art, pop culture and the cult of the celebrity. </p>
<p>Earlier this year, Forbes Online cited a research conducted by Exeter University’s School of Psychology that found artwork in the workspace can have a direct impact on employee productivity. </p>
<p>“A painting can alter the mood of a meeting room or a piece of unusual artwork can provide a talking point in a bland corporate space,” Dodd said.</p>
<p>The office site has views of the Brisbane River.</p>
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jonathanchancellor-7SQnKwU6yx

Arty office spaces in Brisbane await tenants 

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<p>Brisbane-based Sentinel Property Group has acquired an industrial site with development potential within the Australia TradeCoast precinct at Pinkenba in Brisbane’s east for $48.5 million.</p>
<p>The acquisition adds to Sentinel’s pooled Industrial Trust portfolio which includes properties at Mayfield in Newcastle, Oxley in Brisbane and Paget in Mackay.</p>
<p>Recently, it purchased a fully leased office building in Cairns for $8.5 million.</p>
<p>The 69 Tingira Street site spans 140,006 sqm and has a waterfront bulk storage industrial facility located there.</p>
<p>It was purchased in a leaseback arrangement with listed industrial chemical company Incitec Pivot Pty Ltd (ASX:IPL). </p>
<p>IPL will continue to run its fertiliser distribution centre from the site and will lease nearly 11.5 ha of the property with 2.5 ha on Soutter St available to Sentinel for further development. </p>
<p>The site benefits also from an adjoining wet lease of 15,370 sqm with associated wharf infrastructure.</p>
<p>The deal was negotiated by Anthony White and Simon Beirne of Colliers International.</p>
<p>Sentinel managing director Warren Ebert said this was a tremendous opportunity to acquire a major industrial facility in Pinkenba at a strong investment yield above what prime industrial assets are currently trading for, as well as benefitting from development upside.</p>
<p>“This site offers unique ongoing investment potential with core bulk storage and liquid storage assets in low supply throughout Brisbane, particularly when coupled with direct river access,” he said.</p>
<p>Yields for recent sales of industrial facilities have been in the range 5.5-7.5 per cent. </p>
<p>The passing net yield for the Pinkenba site was 8.2 per cent, he said.</p>
<p>“This is also one of very few sites with wharf access in Brisbane that can accommodate Handymax class vessels of up to 188m long and 34m wide and capable of both liquid and bulk cartage.”</p>
<p>Ebert said it was an ideal time for Sentinel to purchase in the Australia TradeCoast precinct as it is a tightly held market due to the lack of available land.</p>
<p>“The proximity to Brisbane Airport, Port of Brisbane and major transport infrastructure continues to drive demand in this precinct. </p>
<p>“The Port of Brisbane is one of Australia’s fastest growing container ports and Queensland’s premier multi-cargo port, handling almost $50 billion in trade annually.”</p>
<p>Colliers’ Anthony White said he expected the increased sale and leaseback activity, particularly from corporates, in the TradeCoast precinct to continue.</p>
<p>Sentinel Property Group has a total national portfolio of more than 40 retail, industrial, office, land, tourism infrastructure and agribusiness assets in Queensland, New South Wales, Victoria, Western Australia, the Australian Capital Territory and the Northern Territory with a total value of more than $1 billion.</p>
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Sentinel buys industrial site in Brisbane for $48.5 million

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<p>A four-bedroom New Farm house designed by well known Brisbane architect Shaun Lockyer has been listed.</p>
<p>The house at <a href="https://lockyerarchitects.com.au/project/62v-2016/" target="_blank">62 Villiers Street</a> in Brisbane’s inner suburb has been completely renovated.</p>
<p>62V was conceived of as a ‘raw’ house embodying the principal of using basic but honest materials to create a rich aesthetic from simple elements. </p>
<p><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/2017/10/06/62V-2.jpg" alt=""></p>
<p>The project included the refurbishment of a turn-of-the-century cottage built around an internal courtyard to optimise the lifestyle benefits of a seamless indoor/outdoor relationship. </p>
<p>The home, with rooftop terrace with city views, has been listed through <span>Ivo Kornel</span> of Belle Property.</p>
<p>It last changed hands for $1,030,000 in 2015 when it was an old cottage.</p>
<p> </p>
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Shaun Lockyer-designed New Farm house on the market

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<div class="cq-article-content-paras section">BPM development boss Jonathan Hallinan has revealed only two settlements failed to proceed in two projects in the past two months, in the supposed much-troubled Melbourne and Brisbane apartment markets.</div>
<div class="cq-article-content-paras section">
<p>They were the 40-unit Black Fold project in Brisbane's West End and the 30-unit Light Edge project in Melbourne.</p>
<p>"We've settled 70 in the last two months," Hallinan told Fairfax Media.</p>
<p>"Over two projects, we've had two fall over. Those two were very quickly resold."</p>
<p><span>Black Fold was a collaboration between BPM, <span>Noel Robinson Architects</span> and Hecker Guthrie with one and two bedroom apartments.</span></p>
<p><span>The <a href="https://www.facebook.com/bpmdevelopment/photos/a.1599677896987160.1073741834.1586943561593927/1599677926987157/?type=3&amp;theater" target="_blank">27-29 Bank Street project</a> was a </span>sellout after its 2015 marketing.</p>
<p><span>Black Fold's rooftop terrace is complete with entertaining arena and uninterrupted views across the city.</span></p>
<p>Black Fold is situated 1.5 kilometres south west of the CBD.</p>
<p>BMP property management's division is offering rentals including a 2 bedroom, 2 bathroom apartment with 1 car space from $470 per week to $575 a week.</p>
<p>They are offering four weeks rental for free.</p>
<p>Hello Realty has a 2 bedroom, 1 bathroom apartment available at $430 a week.</p>
<p>The 204 apartment,<span> currently rented out at $400 per week with the lease ending June, 2018, has been listed at $445,000.</span></p>
<p><span>It sold off the plan at $417,500 in 2015, the cheapest among the block which saw sales up to $575,000.</span></p>
<p><span><span>BPM’s​ project, Light Edge, 30 apartments over six levels came with a design by DKO Architects, on Elizabeth Street in Richmond.<br></span></span></p>
<p>It <span>sparked immediate buyer interest with 15 sold or reserved within two weeks of its sales release in late 2015.</span></p>
<p><span>They sold between $417,500 and $775,000.</span></p>
</div>
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j.ballantyne1990-6AQqhLzZaK

BPM apartment settlements proceed with just two defaults

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<div>When I first came to Sydney in the 1990s, there was a lot of talk about housing being expensive, although in truth it was still possible buy decent blocks of land reasonably close to the city, at least in the less fashionable inner western suburbs.</div>
<div> </div>
<div>I can also remember years ago reading a blog by Property Update contributor Stuart Wemyss, which argued that although some parts of Melbourne were evidently expensive, most of the talk about oversupply and a property bubble was just short term noise. </div>
<div> </div>
<div>Wemyss highlighted a very similar point: you could still find decent blocks of dirt close to the city, for a price that wasn't absurd - demonstrably not the case in many so-termed 'global cities', which Melbourne aspires to become - and over the years he was proven right.</div>
<div> </div>
<div>I feel a bit the same about Brisbane today.</div>
<div> </div>
<div>Sure, there are some suburbs that are expensive, as you would expect with the Greater Brisbane population approaching 2.5 million. </div>
<div> </div>
<div>But you can still find blocks of land reasonably close to the city, within a 6-8km radius of the CBD, for a relatively good price. </div>
<div> </div>
<div>Of course, there will be ups and downs, but over the next couple of cycles the right property types and locations will likely perform very well, in my opinion, especially in good school zones. </div>
<div> </div>
<div>Although some areas have been overbuilt with high rise apartments, south-east Queensland will offer some of the best opportunities over the decades ahead, as it expands as a population hub and becomes more popular with Asian migrants. </div>
<div> </div>
<div>The forthcoming Commonwealth Games will be a plus too.</div>
<div> </div>
<div><strong><span style="text-decoration: underline;">Slump, and rebound</span></strong></div>
<div> </div>
<div>Queensland has always attracted migrants from interstate, and as the resources mega-projects kicked off through the early years of the mining boom, the Sunshine State was pulling in tens of thousands of internal migrants per annum. </div>
<div> </div>
<div>These were unbridled boom years both for Queensland's economy and Brisbane housing.</div>
<div> </div>
<div>From 2010, demand for Brisbane housing slumped, broadly in tune with internal population flows.</div>
<div> </div>
<div>Unfortunately, with apartment projects often taking an age from approval to completion, this was also a time at which many interstate investors settled on new units, which are now under water, figuratively speaking (not only in Brisbane, but in other parts of Queensland too). </div>
<p> </p>
<div class="separator"><a href="https://2.bp.blogspot.com/-d0I2CmhdgPk/Wc9CDDm3V6I/AAAAAAAAmYM/Pk3tVR5P5YMB9zNT-8oVgi4R06aVWBMSQCLcBGAs/s1600/QLD2.jpg"><img src="https://2.bp.blogspot.com/-d0I2CmhdgPk/Wc9CDDm3V6I/AAAAAAAAmYM/Pk3tVR5P5YMB9zNT-8oVgi4R06aVWBMSQCLcBGAs/s640/QLD2.jpg" width="640" height="380" data-original-height="758" data-original-width="1271"></a></div>
<p> </p>
<div>More literally speaking, Brisbane experienced severe floods in 2010-11, which arguably exacerbated a downturn that was already in the post as LNG projects approached completion.</div>
<div> </div>
<div>By March this year, estimated interstate migration to Queensland had risen to its highest level since 2009.</div>
<div> </div>
<div>So, what's going on? It's partly a function of the housing market cycle, with Sydney now expensive, and congested.</div>
<div> </div>
<div>Another boon for Queensland is that took its capex downturn medicine earlier than Western Australia, so although it was painful, the drag has now ended, with roads and other infrastructure projects having kicked off.</div>
<div> </div>
<div class="separator"><a href="https://1.bp.blogspot.com/-14swRzkG8Sg/Wc9rrn08RXI/AAAAAAAAmYk/zodXh_b89Ns1Mm_M21U6coYIVx8ybiRigCLcBGAs/s1600/ENG.jpg"><img src="https://1.bp.blogspot.com/-14swRzkG8Sg/Wc9rrn08RXI/AAAAAAAAmYk/zodXh_b89Ns1Mm_M21U6coYIVx8ybiRigCLcBGAs/s640/ENG.jpg" width="640" height="380" data-original-height="825" data-original-width="1386"></a></div>
<div> </div>
<div>And, after a terrible lull, Queensland employment is suddenly now picking up, rising by an <a href="https://petewargent.blogspot.co.uk/2017/09/jobs-explosion-shatters-forecasts" target="_blank">outsized +95,400 over the year to August 2017</a>.<br><br>And population growth is in turn ramping up just as dwelling starts now collapse, helping to rebalance the ratio of demand to supply.<br><br><div class="separator"><a href="https://1.bp.blogspot.com/-NZ6sGlCUijI/Wc-BAtgAALI/AAAAAAAAmY4/jAB2Gm1ySpkxztQzoMQnS8YgwGDJsY9wgCLcBGAs/s1600/A1.jpg"><img src="https://1.bp.blogspot.com/-NZ6sGlCUijI/Wc-BAtgAALI/AAAAAAAAmY4/jAB2Gm1ySpkxztQzoMQnS8YgwGDJsY9wgCLcBGAs/s640/A1.jpg" width="640" height="390" data-original-height="830" data-original-width="1362"></a></div>
</div>
<div>You didn't really need ABS estimates to tell you about the migratory shifts, since every second person in inner city Brisbane seems to have just relocated from Sydney, or from Perth in many cases. </div>
<div> </div>
<div>With the Sydney market now slowing, there will no doubt be a great surge in interest in Brisbane property - that's just the way the cycle goes. </div>
<div> </div>
<div><strong><span style="text-decoration: underline;">White shoes alert</span></strong></div>
<div> </div>
<div>A few caveats, however, if you're thinking of buying a Brisbane property investment.</div>
<div> </div>
<div>Of all the capital cities, Brisbane plausibly has the patchiest housing market - some locations and dwelling types are experiencing strong price growth, while others are struggling big time.</div>
<div> </div>
<div>Be wary about locations prone to flooding, and definitely watch out for white ants (termites)! </div>
<div> </div>
<div>Oh, and real estate laws are different up north, so you need to understand how to make offers subject to certain conditions. </div>
<div> </div>
<div>Personally, I would buy established not new property, for way too many heads have been burned buying new of off the plan up north. </div>
<div> </div>
<div>Finally, there is a long history of southern buyers getting brazenly fleeced on Queensland property deals by slick sales techniques - the famed white shoe brigade - so make sure you don't become yet another casualty. </div>
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pwargent-M4siyDbqQY

Southerners need to avoid being fleeced by Queensland's famed white shoe brigade

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<p>Brisbane is at the 11th spot among global cities for the most office floor space that can be bought for US$100 million, fetching 14,607 sqm in the CBD area but this could change as the leasing market recovers and prices head north, says a new report by Knight Frank.</p>
<p>The report, Global Cities 2018, compares how much USD100 million will buy of prime office space in 34 top cities across the world. </p>
<p>Melbourne and Sydney sit at 15th and 23rd on the list respectively, with Melbourne fetching 12,719 sqm of CBD office space for USD100 million while the same money can get you 7,087 sqm in Sydney.</p>
<p>Knight Frank’s managing director, Queensland, Ben McGrath said that investor interest has continued to build in the Brisbane CBD market due to the Sydney and Melbourne CBDs recording lower yields and a climate of fewer opportunities. </p>
<p>Brisbane’s office leasing market is recovering, creating limited time to purchase office assets to fully benefit from the expected recovery in tenant demand, according to Knight Frank’s latest research.</p>
<p>“The certainty that the leasing market has bottomed in the Brisbane CBD is providing impetus to the investment market with the view that now is the time to purchase assets to fully benefit from the expected recovery in tenant demand,” said McGrath.</p>
<p>“Additionally, the demand from large tenants for new space will provide the opportunity to secure core investments with limited national supply of these assets.”</p>
<p>Investment demand is also rising because of continued high spread in yields Brisbane has with Sydney and Melbourne, added Knight Frank’s joint head of Institutional Sales, Australia, Ben Schubert.</p>
<p>According to the Global Cities report, Brisbane’s prime office yields sit at 28th in the world out of the 34 cities monitored, with yields at 6.38%, while Sydney and Melbourne are at 20th and 22nd respectively with Sydney yields at 5.06% and Melbourne yields at 5.25%. </p>
<p>“While both Sydney and Melbourne CBDs are far further through the leasing demand cycle, with signs of improvement in the Brisbane market, investment interest has further increased. Yields remain under downward pressure with interest in the Brisbane market continuing to build. Both the yield gap to Sydney and Melbourne and positive signs in the Brisbane leasing market is underpinning this investment interest,” said Schubert.</p>
<p>Knight Frank’s head of Commercial Sales, Australia Paul Henley said, “Investors are increasingly expanding their global portfolios. Those cities going through an evolution driven by a compelling mix of education, lifestyle, infrastructure, technology and real estate makes them places where people want to work, shop, play, and live.”</p>
<p>Knight Frank’s director, Research, Australia Michelle Ciesielski said prime yields have continued to firm in the Brisbane CBD, having fallen to a median range of 5.8% to 6.95% as demand grows.</p>
<p>“In Sydney, the strong investor demand, particularly from offshore investors, is putting significant pressure on yields across the grades, but more so on secondary assets which have a lower price point,” she said.</p>
<p>She cited the sale of 20 Bridge Street on a sub-5% core market yield as an indicator that prime assets in the CBD core are expected to be traded between 4.5% and 5.25%. </p>
<p>“This will be further affirmed when the sale of Wynyard Place is concluded, with market expectation for a yield of close to 4.7%,” said Ciesielski.</p>
<p>In Melbourne, fewer buying opportunities with strong investor demand, particularly by offshore investors, has further compressed prime yields, added Henley. </p>
<p>“Looking ahead, investment volumes are anticipated to remain above the five-year average in 2017. This is unlikely to match volumes recorded in 2014 as impacted by the scarcity of investment opportunities rather than diminishing investor appetite,” concluded Henley.</p>
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prateek24-ezbwHMbNAk

Brisbane CBD ranks 11th globally for value in prime office space: Knight Frank

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<p>A development site in inner Brisbane on which an apartment tower was planned, is being sold by the mortgagee.</p>
<p>It comes as the city’s oversupply concerns loom large.</p>
<p>The RBA has in recent months voiced its concerns over the apartment oversupply in Brisbane. Thousands of completed apartments are set to hit the market this quarter.</p>
<p>The marketing for <a href="https://www.realcommercial.com.au/property-land+development-qld-woolloongabba-502516766" target="_blank">the 1,012 sqm holding on Carl Street</a> in inner-city Woolloongabba is being handed to Cushman &amp; Wakefield by the lender.</p>
<p>The site is two blocks of three that won development approval from the Brisbane City Council for a 91-apartment tower to be called Dietrich on Carl in 2015, according to The Australian.</p>
<p>Situated in the heart of Woolloongabba, the 91 units were to be spread across 12 levels, with a roof top pool and recreation areas.</p>
<p>Close to transport and shops and with a rich heritage, the property was marketed as offering lifestyle and location benefits that would appeal to both owner/occupier and investor alike.</p>
<p>Unit supply in greater Brisbane is scheduled to grow by 20 per cent over the next two years, with 39,420 apartments and townhouses hitting the market, according to property analytics firm CoreLogic.</p>
<p>With more than 2,200 new apartments remaining for sale, developers are under pressure to settle their stock despite tightened lending conditions for foreigners and investors.</p>
<p>Cushman &amp; Wakefield agent Joe Kennedy said there was reasonable interest in the two sites, which is within Brisbane’s eastern corridor zoned for high-density residential.</p>
<p>“The development site market in Brisbane is not what it was two years ago, with all the doom and gloom, but it is starting to pick up again,” Kennedy said. </p>
<p>“This is certainly the first (mortgagee-in-possession) site we’ve had. It’s not something I’ve seen a lot of.”</p>
<p>The entire three block site was bought in two purchases for a $5 million total in 2014 by Sandton Pty Ltd, a Canberra company trading as Precision Living. The company could not be reached for comment, according to The Australian.</p>
<p>Developers have deferred around 43 per cent of apartments in major projects across inner Brisbane due to a decline in sales, higher construction prices and tighter lending conditions, a report by Place Advisory’s June Quarter said.</p>
<p>Smaller development sites were still scoring deals, Kennedy said, citing site sales for 12 to 20 units within their office totalling $12 million in the popular western suburb of Indooroopilly.</p>
<p>The oversupply story is true for established Brisbane developers. Metro Property Development last year sold a site on Brunswick Street in Fortitude Valley and Montpelier Road in Bowen Hills for a combined loss of $11.2m.</p>
<p>The company later sold their Manning Street site for $13 million, making a loss of $7 million, to Aria Property Development.</p>
<p>Metro has also put the final two stages of its Central Village apartment complex in Fortitude Valley up for sale through JLL.</p>
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Mortgagee Brisbane development site on the market

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<p>The Batman tunnel home, reminiscent of the caped crusader’s film sets, has sold for an undisclosed sum, achieving the top sale price this year in the exclusive suburb of Ascot after being on the market for a mere 34 days.</p>
<p>The six-bedroom house at <a href="https://queenslandsothebysrealty.com/1P0292/128-crosby-road-ascot" target="_blank">128 Crosby Road</a> was listed with $10 million plus expectations.</p>
<p>The sale eclipses that of 26 Mayfield Street, Ascot, which sold last month and was listed for expressions of interest in the range of $7.5 million to $8.5 million, and that of the $8.3 million sale for 24 Palm Avenue, Ascot, which sold off-market in February.</p>
<p>It also set the highest sale price per sqm ever for a property in the prestige Brisbane suburb, according to a media release.</p>
<p>The property received wide exposure via Sotheby’s International Realty affiliates throughout 63 countries, positioning the property in for buyers all around the world.</p>
<p>It was featured in the New York Financial Times print and online editions, Mansion Global and the Daily Mail UK, as well as front page of the Courier Mail Real Estate Liftout and AFR’s Domain Prestige, Channel 7 Brisbane News and Sky Business News, among others.</p>
<p>The property received more than 100,000 views on realestate.com.au.</p>
<p>Enquiries came in from Sydney, Melbourne, London, New York, Toronto, Hong Kong and Singapore.</p>
<p>Tyson Clarke of Queensland Sotheby’s International Realty said more than 90 groups inspected the architecturally designed home and there were 23 private inspections, attracting a wide range of highly qualified buyers, all specifically wanting an Ascot Hamilton address.</p>
<p>Sotheby’s Ascot principal, Stephen Weber said Sotheby’s was able to “leverage our local connections, empowered international resources and meaningful partnerships in the marketing and the sale of this amazing property”. </p>
<p><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/2017/07/04/126%20Crosby%20Road-3.jpg" alt=""></p>
<p>Situated on the edge of Bartley’s Hill, the home has been built as a family estate that is also the ideal entertainer. </p>
<p>Reminiscent of a Hollywood film set, the 50 m concrete enclosed tunnel, one of two entrances to the home, extends upwards to an underground bunker-like garage capable of accommodating eight to 10 cars.</p>
<p>The tunnel, internal lift system and house is a complex feat of engineering.</p>
<p>Vendor Brett Walker said the sales and marketing process with Queensland Sotheby’s was rigorous, passionate and absolutely professional.</p>
<p>“The campaign and very quick sale speaks for itself, congrats to the entire team on a job well done,” he said.</p>
<p>Its features include a theatre, study, billiard room, wine cellar, two pools, a gymnasium spanning half a level, a zen room, outdoor kitchen and two laundries.</p>
<p>The home’s elevated position capture 180 degrees of the surrounding landscape from the vista of Moreton Bay through to Mt Coot-tha.</p>
<p> </p>
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'Batman-tunnel' home in Brisbane's Ascot sells for undisclosed sum

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<p>A vacant land at Woolloongabba, Brisbane, Queensland has been listed for mortgagee sale.</p>
<p>Located at <a href="https://www.realcommercial.com.au/property-land+development-qld-woolloongabba-502516766" target="_blank">21-23 Carl Street</a>, the 1012 sqm land is marketed as a strategic, boutique development site.</p>
<p>It is within walking distance to public transport as well as Stones Corner retail area.</p>
<p>There is also 20 metres of Carl Street frontage.</p>
<p>The area is a high density zone with a code assessable allowable height of 12 levels.</p>
<p>There are ample parkings available on the property.</p>
<p>Expressions of Interest close today through Cushman &amp; Wakefield agents Andrew Gard and Joe Kennedy.</p>
<p>A 397 sqm block of land at <a href="https://www.realestate.com.au/sold/property-residential+land-qld-woolloongabba-201795518" target="_blank">29 Bourne Street</a>, Woolloongabba was sold this year.</p>
<p><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/2017/09/19/29%20Bourne%20Street.jpg" alt=""></p>
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Woolloongabba, Queensland vacant land listed for mortgagee sale

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<p>An iconic building which was home to retailer Walton’s in Brisbane’s Fortitude Valley has been listed. </p>
<p>The former Waltons department store building, which closed down in 1987, has been owned by investment company Mount Cathy Pty Ltd.</p>
<p>The property is being marketed by Knight Frank’s Christian Sandstrom, Justin Bond and Dominic Ong, along with Glenn Gracie of Glenn Gracie Real Estate.</p>
<p>Sandstrom said the property is likely to attract interest from both local and offshore investors as well as developers.</p>
<p>“The property could suit a large cross-section of buyers looking to undertake a substantial refurbishment for re-adaptive use.</p>
<p>“Alternatively under the local plan a substantial mixed use development including retail, residential or commercial of the site is allowable (STCA), which would incorporate the heritage elements of the existing buildings.”</p>
<p>The property has a site area of 3,489 sqm with frontages to both Wickham and Brunswick Streets.</p>
<p>It has an entry to the Fortitude Valley train station and adjoins the proposed $500 million redevelopment of the Valley Metro Centre.</p>
<p>“The property is improved by a number of classical well-constructed buildings and is well-known as the Walton’s building, which was home to one of Brisbane’s largest retailers Walton’s Limited,” Bond said.</p>
<p>“Similar to the recent investment trends, Fortitude Valley has experienced increased institutional foreign investment from the US, UK, South Korea, Hong Kong and China.”</p>
<p>The property is being sold through an international expressions of interest campaign expected to start in four weeks.</p>
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