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

Joel Robinson

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

Melbourne developer Lowe Living is seeking to add to its growing bayside apartment pipeline, filing plans for a boutique eight-residence development in tightly held Middle Park.

Lowe Living, which has built much of its development portfolio across Melbourne's affluent bayside and south-east suburbs, is behind the plans for the 730 sqm site at <a href="https://www.apartments.com.au/new-apartments/123-125-erskine-street-middle-park-vic-3206">123-125 Erskine Street</a>, just off Armstrong Street and within the Armstrong Street Neighbourhood Activity Centre.

The developer is seeking approval for a five-storey residential building above two basement levels, with just eight large-format apartments and 18 car spaces.

“This is a deliberately very different proposition for us,"&nbsp;Tim Lowe, Co-Founder of Lowe Living, said.

"Eight residences is exceptionally boutique, but that's precisely what this site calls for.

“There is a strong community in Middle Park and the surrounding suburbs who have spent decades building a life here. They no longer want the maintenance of a large period home, but they aren't prepared to compromise on space, quality or location. We think there is a real opportunity to capture that hyper local market. A site like this rarely comes to market.”

<img alt="Lowe " data-entity-type="file" data-entity-uuid="875fe572-0f14-4d90-9e11-55b28dd07731" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-21%20at%208.42.49%E2%80%AFAM.png?VersionId=GDNQRv9BfpR9r1zkZ5UDyUM4ZvpIksut" />

The low-density proposal has been designed by Cera Stribley and is being progressed through the Victorian Government's Great Design Fast Track pathway, having already secured eligibility from the Minister for Planning.

The Office of the Victorian Government Architect supported its eligibility after finding the proposal demonstrated consistency with the program's seven design principles, while the project's financial feasibility has also been independently confirmed by Invest Victoria.

The project is targeting the downsizer market, with the planning documents describing the homes as larger-format residences and noting the two penthouses could otherwise have been configured as four separate apartments.

<img alt="Lowe 2" data-entity-type="file" data-entity-uuid="60ab0987-2da6-4175-adac-315dcf6053c6" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-21%20at%208.43.15%E2%80%AFAM.png?VersionId=bOCPH0B2MFwlmaRW.TTCF9TzyifgVoQI" />

The site has dual frontage to Erskine Street and Canterbury Place and currently comprises a collection of commercial buildings used as offices, including a former heritage bakehouse, a former stable, a later gabled addition and a central courtyard.

It sits within the Commercial 1 Zone and the Armstrong Street Commercial Precinct heritage overlay, with the existing property classified as a contributory heritage place.

Heritage has subsequently played a significant role in Cera Stribley's design.

The front section of the former bakehouse facing Erskine Street will be retained, including its return walls, street-facing hipped roof and chimneys, while the Erskine Street façade and part of the western return wall of the former stable will also be incorporated into the new development.

Levels four and five will be set back five metres from the retained stable façade, while bricks removed through demolition are proposed to be salvaged and reused within the new building where possible.

<img alt="Lowe 3" data-entity-type="file" data-entity-uuid="e97927a9-a2de-4a0f-83b6-65451238abfa" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-21%20at%208.43.06%E2%80%AFAM.png?VersionId=VR44AChLrX9q1XPB9GvVQV.ALXXbe4gC" />

Rather than presenting as a single five-storey building to Erskine Street, Cera Stribley has broken the development into a series of distinct forms.

A three-storey infill element will sit between the retained bakehouse and stable façades, with the upper levels recessed behind the heritage fabric. Canterbury Place will similarly feature two three-storey podium forms, separated by a central pedestrian accessway, before the upper two levels step back from the street.

A pedestrian through-link will run through the centre of the project between Erskine Street and Canterbury Place, creating entrances from both sides of the site and introducing landscaping and communal areas through the ground plane.

Landscape architect Acre has designed planting across the ground level, private terraces and upper levels, including a feature canopy tree at level three and integrated planting and arbours across the level four terraces. Five existing Erskine Street trees are proposed to be retained.

Sustainability is also a significant component of the Great Design Fast Track application. The apartments are targeting an average eight-star NatHERS rating, with no residence below 6.5 stars, while the project has achieved a 75 per cent BESS score. Seven of the eight apartments are designed for cross-ventilation, with the remaining residence using mechanically assisted natural ventilation.

The plans also incorporate an 8kWp rooftop solar system, a 5,000-litre rainwater tank and infrastructure allowing future electric vehicle charging for every residence.

Lowe has a strong portfolio across Melbourne's blue-chip suburbs. They recently launched <a href="https://www.apartments.com.au/new-apartments/jardin-house-by-lowe-living-camberwell-335-camberwell-road-camberwell-vic-3124">Jardin House by Lowe Living</a> in Camberwell, their first development in the Stonnington LGA.

Lowe Living unveils Middle Park apartment development

Article summary

<ul data-end="888" data-start="289">
	<li data-end="442" data-section-id="8tsh6o" data-start="289">DVB Projects is preparing to launch its second Gold Coast apartment development, with demolition now underway at 137 Old Burleigh Road, Broadbeach.</li>
	<li data-end="573" data-section-id="1nyxl3e" data-start="443">The 34-level tower will comprise just 49 ultra-luxury residences, including half-floor, full-floor and penthouse apartments.</li>
	<li data-end="717" data-section-id="oiyimj" data-start="574">The launch follows strong demand at DVB's nearby Sea Glass project, which is more than 50 per cent sold and currently under construction.</li>
	<li data-end="888" data-section-id="epk9o9" data-start="718">The development adds to the transformation of Old Burleigh Road, with premium beachfront apartment projects continuing to reshape the tightly held Broadbeach strip.</li>
</ul>

<a href="https://www.apartments.com.au/developers/dvb-projects">DVB Projects</a> is preparing to launch its second Gold Coast apartment development, with demolition now underway on the Broadbeach site as the Sydney developer moves closer to bringing the ultra-luxury project to market.

The 34-level tower at <a href="https://www.apartments.com.au/new-apartments/137-old-burleigh-road-broadbeach-qld-4218">137 Old Burleigh Road</a> will comprise just 49 residences, ranging from half-floor apartments through to full-floor homes and a penthouse. The launch follows the strong sales performance of DVB's nearby Sea Glass development. More than half of the apartments at Sea Glass, on the other side of Broadbeach, have been snapped up, well ahead of its late 2027 completion

<img alt="DVB Projects to commence demolition on $320m Broadbeach luxury tower" data-entity-type="file" data-entity-uuid="2944b4be-c84e-4b54-8dc1-c712e76704c0" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/E02_Exterior_Street%20Level%20Entrance.jpg?VersionId=YoNig7pRdrE3HCue7sUj78LzJteeQf3H" />

The start of demolition at 137 Old Burleigh Road signals DVB Projects’ underlying confidence in the Gold Coast’s luxury beachside apartment sector.

“We see the Gold Coast as one of the most compelling lifestyle markets in Australia, particularly at the premium end where demand continues to deepen,” said Dean Brown, Managing Director of DVB.&nbsp;

“This project has been carefully designed to respond to that demand - delivering large-format residences with a level of quality, privacy and amenity that is still relatively rare in the apartment market on the beachside."

Brown says the site itself is "exceptional."

"Old Burleigh Road is one of the most tightly held beachfront strips, and opportunities to deliver a project of this scale and calibre in this location are extremely limited.”

<img alt="DVB Projects to commence demolition on $320m Broadbeach luxury tower" data-entity-type="file" data-entity-uuid="398f377a-c037-455e-9250-0c5e0d84c35b" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/I12_FF%20Balcony.jpg?VersionId=NwOiRWGMubR1c8wthuEfggklcja7al9." />

The project will comprise 40 half-floor residences of approximately 260 sqm, alongside eight full-floor residences spanning around 524 sqm.

A single penthouse will crown the building, featuring a private pool, barbecue area, indoor gym and dedicated entertaining spaces.

Residents will have access to a resort-style suite of amenities, including a 20-metre pool with daybeds, a gymnasium, hot and cold plunge pools, a sauna, and private residents’ lounge and dining facilities.

<img alt="DVB Projects to commence demolition on $320m Broadbeach luxury tower" data-entity-type="file" data-entity-uuid="d1642bb0-9a66-4427-a022-dfc0988c6287" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/A02_Pool%20to%20View.jpg?VersionId=c0IXPyn_Gp_Kn3XCwzMrqIVkAdCEwVXP" />

Sales agent Todd Matheson, of <a href="https://www.apartments.com.au/project-marketer/pezet-matheson">Pezet Matheson</a>, which is marketing both 137 Old Burleigh Road and Sea Glass, said 137 Old Burleigh Road would address a clear gap in the market for genuine luxury products.

“There are very few opportunities on the Gold Coast where buyers can secure a residence of this size and quality in a new building,” Matheson said.

“What we’re seeing is a growing cohort of downsizers and interstate buyers who still want space - they’re not willing to compromise on living area, entertaining or finishes.

“This project has been designed with that buyer in mind. It offers the scale of a home, combined with the convenience and security of apartment living, in one of the coast’s most desirable positions.”

<img alt="DVB Projects to commence demolition on $320m Broadbeach luxury tower" data-entity-type="file" data-entity-uuid="59aae0ca-5639-4320-8aca-d0bf60f48e43" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/E01_Exterior%20Hero.jpg?VersionId=DS8Zfy2WtgUEtdfe0TEUuf1W1GfcZq8S" />

Located on a 1,156 sqm site one block from the beachfront, the development will replace an ageing walk-up building and is expected to contribute to the ongoing transformation of the Old Burleigh Road strip into one of the Gold Coast’s most prestigious residential corridors.

With the development moving into the delivery phase, 137 Old Burleigh Road is slated to hit the market later this year.

[smartcode_project_cta:default project_id=145141]

DVB Projects to launch second Broadbeach apartment tower as demolition commences

<a data-end="327" data-is-only-node="" data-start="250" href="https://www.apartments.com.au/developers/norus-projects" rel="noopener" target="_new">Norus Developments</a> has lodged plans for a new apartment development in Clayton that would add further momentum to the suburb's emerging Green Street corridor.

Plans have been lodged for the consolidated site at <a href="https://www.apartments.com.au/new-apartments/1359-1365-centre-road-clayton-vic-3168">1359-1365 Centre Road</a>, where Norus is seeking approval for 218 apartments across a 12-storey apartment building designed by <a href="https://www.apartments.com.au/architects/life-architecture-and-urban-design">Life Architecture</a>.

The proposal sits within the Clayton Major Activity Centre at the threshold of the planned Green Street corridor, a landscaped pedestrian connection intended to improve links through the precinct towards Clayton Railway Station.

The development would replace the site's existing collection of low-scale residential and commercial buildings with a single consolidated building, introducing significantly greater housing density to this part of Centre Road.

A retail tenancy is proposed at ground level to activate the Centre Road frontage, accompanied by transparent street interfaces and landscaping intended to create a more pedestrian-focused edge to the development.

<img alt="First look: Norus Developments plans landscape-led apartment project for Clayton’s emerging Green Street" data-entity-type="file" data-entity-uuid="0a5a763a-d9e9-4253-af2f-88008de27ebf" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Clayton%20a.png?VersionId=S2WJJbat1XVkZwB9SnYtygirXgWHiklX" />

The building has been designed with stepped massing and upper-level setbacks to manage its transition towards surrounding residential properties. The planning report describes the approach as one that integrates the building into the landscape rather than treating landscaping as a secondary element.

"A strong landscape and public realm strategy underpins the proposal," Urbis states in the planning report.

"Public benefits include an affordable housing contribution, a new pocket park, generous landscaped setbacks, deep soil planting and integrated Water Sensitive Urban Design."

The report adds that these elements are intended to create "a permeable, pedestrian-focused ground plane that enhances walkability, supports urban cooling and reinforces the emerging Green Street character."

Biophilic and passive design principles extend through the residential levels, with planting, daylight, natural ventilation and views towards landscaped areas forming part of the amenity strategy.

Parking would be concentrated away from the public realm, with 145 car spaces proposed from the rear laneway rather than dominating the Centre Road frontage.

The proposal follows an extensive pre-application process with the City of Monash. Three formal meetings were held between the project team and Council from December 2025 to March 2026, with the scheme evolving through several concept iterations before the current design was lodged.

The project arrives as Clayton prepares for substantial change around its established activity centre and the wider Suburban Rail Loop precinct. Its position on Centre Road places the development within an existing concentration of shops, services and public transport, while the Green Street connection is intended to strengthen pedestrian access towards Clayton Railway Station.

First look: Norus plans landscape-led apartment project for Clayton’s emerging Green Street

<a href="https://www.apartments.com.au/developers/gardner-vaughan-group">Gardner Vaughan Group</a> has officially commenced construction on Bronze on Chevron, celebrating the sod turning of its first-ever Gold Coast development and marking a significant milestone in the company's continued expansion across South East Queensland.&nbsp;

Following the successful delivery of premium residential developments throughout Brisbane and the Sunshine Coast, <a href="https://www.apartments.com.au/new-apartments/bronze-on-chevron-8-mawarra-street-chevron-island-qld-4217">Bronze on Chevron</a> represents Gardner Vaughan Group's entry into the Gold Coast market. Bronze will deliver 119 one, two, three and four-bedroom apartments above two ground-level retail tenancies.

[smartcode_project:default project_id=107520 project_image_fid=367193]

The recent sod turning ceremony was attended by Deputy Mayor Mark Hammel, President of the Surfers Paradise Surf Life Saving Club, Cassandra Sedgman, project consultants, purchasers, project partners and invited guests to celebrate the commencement of construction.&nbsp;

Gardner Vaughan Group Chief Executive Officer Simon Betteridge said Bronze on Chevron represented an exciting new chapter for the business.&nbsp;

"We've spent almost four decades building homes that respond to the way people want to live, and we're excited to bring that experience to <a href="https://www.apartments.com.au/developments/chevron-island-qld-4217">Chevron Island</a>," Betteridge said.

"Bronze on Chevron is particularly significant because it marks Gardner Vaughan Group's first development on the Gold Coast following many successful projects across Brisbane and the Sunshine Coast."

[smartcode_project:default project_id=107520 project_image_fid=367183]

Betteridge said the ground breaking is a proud moment for the&nbsp;team and their purchasers, who can now see their future homes beginning to take shape.&nbsp;

"As both developer and builder, we're able to oversee every aspect of the project from design through to construction, ensuring the quality and attention to detail Gardner Vaughan Group has become renowned for."&nbsp;

Designed by acclaimed architectural practice <a href="https://www.apartments.com.au/architects/cottee-parker-architects">Cottee Parker</a>, Bronze on Chevron has been thoughtfully designed to complement Chevron Island's evolving streetscape while embracing its relaxed coastal lifestyle.

The development will offer generous residences with refined interiors, premium finishes and resort-style amenities, with completion anticipated in early 2029.&nbsp;

[smartcode_project_cta:default project_id=107520]

The development will offer generous residences with refined interiors, premium finishes and resort-style amenities, with completion anticipated in early 2029

Gardner Vaughan Group breaks ground on first Gold Coast development, Bronze on Chevron

Brisbane

<html><body>
Properties in Brisbane takes a significant time to sell, according to CoreLogic’s latest report.
The property data firm says that a house in Brisbane can take up to 56 days to sell while a unit can sit on the market for 84 days.
<a href="https://www.propertyobserver.com.au/images/2017/03/27/Screen%20Shot%202017-03-27%20at%202.16.44%20pm.jpg" target="_blank">Click to enlarge</a>
<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/2017/03/27/Screen%20Shot%202017-03-27%20at%202.16.44%20pm.jpg" alt="">
This is compared to Sydney where the average period for both a unit and house is 26 days.
However Darwin takes the most amount of time with most units and houses taking up to 3 months or more to sell.
A three bedroom house at <a href="https://www.realestate.com.au/sold/property-house-qld-lota-124814498" target="_blank">116 Alastair Street</a>, Lota (above) was recently sold for $657,500.
Similarly a four bedroom house at <a href="https://www.realestate.com.au/sold/property-house-qld-murarrie-124852470" target="_blank">35 Garrett Street</a>, Murraie (below) was recently sold for $646,000.
<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/2017/03/29/35%20Garrett%20Street.jpg" alt="">
A three bedroom house at <a href="https://www.realestate.com.au/property-house-qld-wavell+heights-125102570" target="_blank">231 Edinburgh Castle Road</a>, Wavell Heights (below) has been listed for over $599,000.
<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/2017/03/29/231%20Edinburgh%20Castle%20Road.jpg" alt="">
Similarly a six bedroom house at <a href="https://www.realestate.com.au/property-house-qld-deception+bay-121919662" target="_blank">6 Nalbo Court</a>, Deception Bay (below) has been listed for $650,000.
<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/2017/03/29/6%20Nalbo%20Court.jpg" alt="">
</body></html>

j.ballantyne1990-6AQqhLzZaK

Brisbane houses selling much quicker than apartments: CoreLogic

<html><body>
Brisbane property sale numbers have increased slightly in the past three months and sales figures have significantly increased, according to research from CoreLogic’s Brisbane Fringe Cityscope.
The property data firm says that the last three months to the beginning of February 2017 recorded 37 sales for a total of $313.1 million.
This consists of $262.6 million for commercial, $3 million for commercial strata, $3.5 million for retail, $7.4 million for retail strata and $36.7 million for other.
In comparison, the last three months to the beginning of November 2016 recorded 31 sales for a total of $88.8 million.
This consists of $4.6 million for commercial, $9.9 million for commercial strata, $1.6 million for retail, $66.9 million for retail strata and $5.8 million for other.
The 12 months leading up to early February 2017 recorded 128 sales for a total of more than $728.2 million, over $80 million more than the same time last year.
The table below shows sales recorded for the past eight updates of Brisbane Fringe Cityscope:
<a href="https://www.propertyobserver.com.au/images/2017/02/15/Corelogic-5.jpeg" target="_blank">Click to enlarge</a>
<img src="https://www.urban.com.au/images/2017/02/15/Corelogic-5.jpeg" alt="">
Together the top sales recorded this quarter total over $181 million, these sales include:
<ul>
<li>Kings Row Office Park, 40-52 McDougall Street, Milton, comprising multiple office buildings between two and six storeys and over 400 car parks, was bought for $94.9 million by Shayher Alliance Pty Limited. The buildings were constructed between 1989 and 1996. Anthony Ott and Peter Chapple of Savills Brisbane negotiated the sale.</li>
<li>33 Park Road, Milton, a four-storey office building, was sold with a residential building at 14 Gordon Street (not covered by Cityscope) for $48.2 million to Wholesale Australian Property Fund. The sale represented an initial yield of 7.37% on passing income of over $3.55 million. Peter Court and Mike Walsh from JLL Brisbane sold the property in conjunction with Seb Turnbull and Luke Billiau of CBRE Brisbane.</li>
<li>200 Creek Street, formerly known as Medtronic House, a 10-storey office building with basement car parking, sold in January 2017 for $38.7 million to Sentinel Regional Office Trust. The sale represented an initial yield of 9.58% on passing income of over $3.7 million. Luke Billiau and Seb Turnbull of JLL Brisbane sold the property in conjunction with Peter Court and Mike Walsh from JLL Brisbane.</li>
</ul>
<a href="https://www.propertyobserver.com.au/images/2017/02/15/Corelogic-6.jpeg" target="_blank">Click to enlarge</a>
<img src="https://www.urban.com.au/images/2017/02/15/Corelogic-6.jpeg" alt="">
Properties for sale include:
<ul>
<li>337 Water Street, Fortitude Valley – a two-storey, 320 square metre office building with six car parks. For sale with an asking price of $1.65 million; agent, Cushman &amp; Wakefield Brisbane (Sam Callanan and Michael Gard).</li>
<li>12 Cribb Street, Milton – a five-storey office building with basement car parking. For sale by expressions of interest; agents, Savills Brisbane (Peter Chapple and Nick Russell) and JLL Brisbane (Christian Sandstrom and Sam Bryne). The property was initially advertised with an approximate fully leased income of over $1.55 million net (as at December 1, 2016)</li>
<li>John Oxley Centre, 337A Coronation Drive, Milton – a U-shaped building with five storeys of offices and two levels of basement car parking for 319 vehicles. For sale by expressions of interest; agents, JLL Brisbane (Seb Turnbull and Geoff McIntyre) and CBRE Brisbane (Bruce Baker and Flint Davidson).</li>
</ul>
Properties under contract (conditional or unconditional) include:
<ul>
<li>Green Square South Tower, 505 St Pauls Terrace, Fortitude Valley – a four-storey building with ground floor retail space and upper level office space. Due diligence is being conducted by AXA Investments Managers; agents, Colliers International Brisbane (Tom Barr and Don MacKenzie) and Colliers International Melbourne (John Marasco).</li>
<li>164 Wharf Street, Spring Hill – a three-level office building comprising two levels of offices above ground floor car parking. Under conditional contract; agent, Savills Brisbane (Jack Morrison and Nick Russell).</li>
<li>100 McLachlan Street, Fortitude Valley – a four-storey commercial building completed in late 2013 as stage 3 of the M&amp;A development. Under contract for $30 million to an offshore purchaser; agent, Cushman &amp; Wakefield (Nick Spiro). The sale represented a yield of 6%.</li>
</ul>
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Brisbane commercial property sales on the rise in 2017: Cityscope

<html><body>
Property sale numbers increased slightly Brisbane's fringes in the past three months, while sales figures showed a significant rise, according to CoreLogic’s latest Brisbane Fringe Cityscope.
The property data firm says that the last three months to the beginning of February 2017 recorded 37 sales for a total of $313.1 million.
This consists of  $262.6 million for commercial, $3 million for commercial strata, $3.5 million for retail, $7.4 million for retail strata and $36.7 million for other.
In comparison, the last three months to the beginning of November 2016 recorded 31 sales for a total of $88.8 million.
This consists of $4.6 million for commercial, $9.9 million for commercial strata, $1.6 million for retail, $66.9 million for retail strata and $5.8 million for other.
The 12 months leading up to early February 2017 recorded 128 sales for a total of more than $728.2 million, over $80 million more than the same time last year.
The table below shows sales recorded for the past eight updates of Brisbane Fringe Cityscope:
<a href="https://www.propertyobserver.com.au/images/2017/02/15/Corelogic-5.jpeg" target="_blank">Click to enlarge</a>
<img src="https://www.urban.com.au/images/2017/02/15/Corelogic-5.jpeg" alt="">
Together the top sales recorded this quarter total over $181 million, these sales include:
<ul>
<li>Kings Row Office Park, 40-52 McDougall Street, Milton, comprising multiple office buildings between two and six storeys and over 400 car parks, was bought for $94.9 million  by Shayher Alliance Pty Limited. The buildings were constructed between 1989 and 1996. Anthony Ott and Peter Chapple of Savills Brisbane negotiated the sale.</li>
<li>33 Park Road, Milton, a four-storey office building, was sold with a residential building at 14 Gordon Street (not covered by Cityscope) for $48.2 million  to Wholesale Australian Property Fund. The sale represented an initial yield of 7.37% on passing income of over $3.55 million. Peter Court and Mike Walsh from JLL Brisbane sold the property in conjunction with Seb Turnbull and Luke Billiau of CBRE Brisbane.</li>
<li>200 Creek Street, formerly known as Medtronic House, a ten-storey office building with basement car parking, sold in January 2017 for $38.7 million to Sentinel Regional Office Trust. The sale represented an initial yield of 9.58% on passing income of over $3.7 million. Luke Billiau and Seb Turnbull of JLL Brisbane sold the property in conjunction with Peter Court and Mike Walsh from JLL Brisbane.</li>
</ul>
<a href="https://www.propertyobserver.com.au/images/2017/02/15/Corelogic-6.jpeg" target="_blank">Click to enlarge</a>
<img src="https://www.urban.com.au/images/2017/02/15/Corelogic-6.jpeg" alt="">
Properties for sale include:
<ul>
<li>337 Water Street, Fortitude Valley – a two-storey, 320 sqm office building with six car parks. For sale with an asking price of $1.65 million; agent, Cushman &amp; Wakefield Brisbane (Sam Callanan and Michael Gard).</li>
<li>12 Cribb Street, Milton – a five-storey office building with basement car parking. For sale by expressions of interest; agents, Savills Brisbane (Peter Chapple and Nick Russell) and JLL Brisbane (Christian Sandstrom and Sam Bryne). The property was initially advertised with an approximate fully leased income of over $1.55 million net (as at December 1, 2016)</li>
<li>John Oxley Centre, 337A Coronation Drive, Milton – a U-shaped building with five storeys of offices and two levels of basement car parking for 319 vehicles. For sale by expressions of interest; agents, JLL Brisbane (Seb Turnbull and Geoff McIntyre) and CBRE Brisbane (Bruce Baker and Flint Davidson).</li>
</ul>
Properties under contract (conditional or unconditional) include:
<ul>
<li>Green Square South Tower, 505 St Pauls Terrace, Fortitude Valley – a four-storey building with ground floor retail space and upper level office space. Due diligence is being conducted by AXA Investments Managers; agents, Colliers International Brisbane (Tom Barr and Don MacKenzie) and Colliers International Melbourne (John Marasco).</li>
<li>164 Wharf Street, Spring Hill – a three-level office building comprising two levels of offices above ground floor car parking. Under conditional contract; agent, Savills Brisbane (Jack Morrison and Nick Russell).</li>
<li>100 McLachlan Street, Fortitude Valley – a four-storey commercial building completed in late 2013 as stage 3 of the M&amp;A development. Under contract for $30 million to an offshore purchaser; agent, Cushman &amp; Wakefield (Nick Spiro). The sale represented a yield of 6%.</li>
</ul>
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Brisbane fringe property sales numbers edged up over past three months: Cityscope

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JLL is building up its Queensland property management business, with the leading commercial property management firm recently announcing more residential management rights acquisitions.
The latest management rights JLL acquired are:
<ul>
<li>The Water’s Edge development that includes the two towers, Drift and Reach, at 45 Duncan Street Brisbane, comprising 234 units;</li>
<li>Rise &amp; View Towers, 232 units located in 30 Duncan Street;</li>
<li>Parc &amp; Arbor Towers, 237 units also located in Duncan Street.</li>
</ul>
The six towers take the total number of residential apartments managed by JLL to 1,700 in Queensland.
“Growing and diversifying our large property management business through acquisitions and expansion into new sectors such as residential has progressed very successfully,” JLL’s Australia CEO Stephen Conry. 
The latest addition adds to JLL’s existing Urban Edge in Kelvin Grove, Regatta Apartments in Toowong and the Newstead Series Development.
“JLL enjoys a leadership position in this sector in the UK, North America and Hong Kong, and while the industry works under different structures across the world, and indeed across Australia, it represents a major engine room for growth for the JLL business,” said Conry.
The industry in Australia was previously the mainstay of single operators and is still in its infancy in terms of “truly commercializing the processes and returns for investors”, said JLL’s Queensland head of property management, Brett Stack.
However, with residential requirements changing rapidly, more long-term rent contracts, tenant expectations constantly evolving and multi-tower developments now part and parcel of the landscape, it has become important for real estate firms to have sophisticated IT systems and solutions to maintain their edge, says JLL.
“Given the rapid development of this sector, it represents significant investment potential and part of our business is dedicated to identifying and realising this potential for our clients,” said Stack.
“It is an exciting time to be leading the way in Australia in this area.” 
The expansion program in Queensland is headed up by Stack and Tina Grey, JLL’s head of Residential Management in Queensland.
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JLL expands property management footprint in Queensland as sector grows

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Martin Simons, former chief executive of APN News &amp; Media, is selling his Tuscan-inspired Sherwood, Brisbane home.
The price guidance is $2.8 million to $3.2 million for the home set on a 1098 square metre, riverfront block adjoining Sherwood Arboretum.
The main living areas have north-west aspect river views.
There are balconies and decks for outdoor entertaining at the four-bedroom, two-bathroom home.
It comes with a deep-water pontoon, a triple garage and a master bedroom retreat. 
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firstname1-iYD4UYzvBa

Tuscan-inspired Sherwood, Brisbane home on the market

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Often referred to as the brown snake, the Brisbane River is home to some of the city’s most prestigious riverfront residences, according to Place Project’s latest report.
Place Advisory’s annual riverfront apartment report has analysed all riverfront apartments that have transacted over the past ten years and they have outlined how the market has performed in comparison to non-riverfront apartments.
<a href="https://www.propertyobserver.com.au/images/2017/03/12/Screen%20Shot%202017-03-12%20at%2011.24.15%20am.jpg" target="_blank">Click to enlarge</a>
<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/2017/03/12/Screen%20Shot%202017-03-12%20at%2011.24.15%20am.jpg" alt="">
<a href="https://www.propertyobserver.com.au/images/2017/03/12/Screen%20Shot%202017-03-12%20at%2011.24.45%20am.jpg" target="_blank">Click to enlarge</a>
<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/2017/03/12/Screen%20Shot%202017-03-12%20at%2011.24.45%20am.jpg" alt="">
Due to the limited amount of available stock, Brisbane’s riverfront apartment market has seen substantially lower sales volumes in comparison to non-riverfront apartments.
The most recent six month period ending June 2016 saw the riverfront apartment market record 162 transactions, representing just 8.4 percent of all apartment transactions in Inner Brisbane.
This result is in line with the long term ten year average, in which riverfront apartments have represented just 8.7 percent of total sales, portraying its limited nature.
As shown in the ten year apartment sales cycle graph above, the median sale price for an apartment located on the Brisbane River is significantly higher in comparison to non-riverfront apartments.
The most recent six month period ending June 2016 saw riverfront apartments record a median sale price of $763,500.
This is 68% more expensive than non-riverfront apartments, which recorded a median sale price of $455,000 for the same six month period.
Over the past ten years, riverfront apartments have been, on average, 69 percent more expensive than non-riverfront apartments.
The six month period ending June 2008 (pre GFC) saw the largest price difference when apartments on the river were 110 percent more expensive, sitting at a median sale price of $850,000.
<a href="https://www.propertyobserver.com.au/images/2017/03/12/Screen%20Shot%202017-03-12%20at%2011.25.34%20am.jpg" target="_blank">Click to enlarge</a>
<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/2017/03/12/Screen%20Shot%202017-03-12%20at%2011.25.34%20am.jpg" alt="">
Riverfront apartments in Inner Brisbane have generally achieved higher capital growth than non-riverfront apartments.
As shown in the graph above, riverfront apartments achieved 2.7 percent capital growth during the June 2016 six month period, down from 3.1 percent in the previous six month period, whereas non-riverfront apartments achieved 2.4 percent capital growth.
Apartments located on the Brisbane River, have achieved, on average, 5.7 percent capital growth per annum over the past ten years.
The six month period ending June 2008 saw the riverfront apartment market peak at 11.4 percent, which was then followed by several periods of consistent decline.
The effects of the 2011 floods strongly impacted the riverfront apartment market, which saw capital growth fall to its lowest point in ten years, recording just 1.7 percent growth following this event.
There was however a quick recovery in the following months.
<a href="https://www.propertyobserver.com.au/images/2017/03/12/Screen%20Shot%202017-03-12%20at%2011.26.50%20am.jpg" target="_blank">Click to enlarge</a>
<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/2017/03/12/Screen%20Shot%202017-03-12%20at%2011.26.50%20am.jpg" alt="">
The map above shows the number of riverfront apartment transactions that have occurred in Inner Brisbane, categorised by suburb, over the past ten years ending June 2016.
The map is colour coded, with the darker green representing the highest number of sales.
Accounting for one quarter of Inner Brisbane’s riverfront apartments, Kangaroo Point achieved the highest volume of transactions, recording a total of 1,149 riverfront sales over the past ten years.
This was followed by New Farm, which recorded 717 riverfront apartment transactions over the past ten years.
In recent years, West End has seen increasing volumes of riverfront apartment transactions as the area undergoes significant rejuvenation.
As the suburb continues to be redeveloped, it has now established itself as a market with a strong riverfront apartment presence.
<a href="https://www.propertyobserver.com.au/images/2017/03/12/Screen%20Shot%202017-03-12%20at%2011.27.39%20am.jpg" target="_blank">Click to enlarge</a>
<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/2017/03/12/Screen%20Shot%202017-03-12%20at%2011.27.39%20am.jpg" alt="">
The chart above shows the top 20 most expensive riverfront apartment buildings in Brisbane over the past ten years.
Scott Street apartments, located in Kangaroo Point recorded the highest average apartment price of $4.9 million over the past ten year period.
New Farm’s Aquila Moray apartments came in second, recording an average sale price of $4.5 million.
The majority of Brisbane’s top 20 riverfront apartment buildings are located in the North of the River precinct, with all except two buildings being located in New Farm.
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Brisbane's riverfront apartment price growth put at 9 percent over past year

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Brisbane vacancies are on the rise, according to SQM’s latest report.
Over the past 5 years, the sunshine states capital has experienced a surge in residential apartment constructions; fuelled predominantly by the mining sector as well as a slight pick-up in foreign tourism numbers, however, with the rapid decline of the mining and commodities industries, is tourism enough to solely drive the economy?
SQM Research recently delved into the supply and demand situation for Brisbane in its Housing Boom &amp; Bust Report and the results were interesting.
Circa 9,000 new apartments hit the market in 2016 which was up 200% from 2015.
The report forecast completions to soften by about 11% during 2017 with circa 8,000 apartments to be built before increasing by 12.5% in 2018 for an additional 9,000 completions.
Having realised that an oversupply may be looming if not already in place, it appears that some developers that can afford to delay construction have done so, opting to ride out the storm so to speak; this would obviously decrease our number of original forecast completions.
According to the Australian Bureau of Statistics (ABS), population growth for Brisbane increased by 1.72% in 2015 to arrive at an estimated total population of 2,084,850 people.
During 2006 &amp; 2011, the ABS Census recorded an average of 2.7 people per household.
If we adopt that rate for our forecast population growth of circa 36,000 for 2017, it would mean that a demand of around 13,000 dwellings would be necessary, however, the total forecast completions by SQM Research for Greater Brisbane (apartments as well as house &amp; land) may be in the vicinity of 21,000, meaning that an oversupply of 8,000 new properties could be possible.
Adopting the same methodology as 2017 as well as the same person per household rate of 2.7, we can assume that Greater Brisbane may be oversupplied by circa 9,000 new dwellings in 2018 due to a required demand of circa 14,000 dwellings and a forecast supply of 23,000.
<a href="https://www.propertyobserver.com.au/images/2017/03/14/SQM-1.jpg" target="_blank">Click to enlarge</a>
<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/2017/03/14/SQM-1.jpg" alt="" width="613" height="372">
An oversupply of dwellings is the obvious catalyst in contributing to vacancies.
At present, the vacancy rate for Brisbane is 3.32%, up 0.67% in the last 12 months, 0.93% over 2 years, 1.43% higher than 5 years ago, and having increased by 1.89% over the past 10 years.
<a href="https://www.propertyobserver.com.au/images/2017/03/14/SQM-2.jpg" target="_blank">Click to enlarge</a>
<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/2017/03/14/SQM-2.jpg" alt="">
When compared to the rest of the nation’s capitals, Brisbane has the third highest vacancy rate behind Perth’s whopping 4.7% and Darwin at 3.7%.
<a href="https://www.propertyobserver.com.au/images/2017/03/14/SQM-3.jpg" target="_blank">Click to enlarge</a>
<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/2017/03/14/SQM-3.jpg" alt="">
Even though vacancies in Brisbane have increased, it’s selling point remains affordability, especially in a time when the great Australian dream of home ownership is becoming further unobtainable in Sydney and Melbourne.
At present, Brisbane’s median house asking price is $601,430, 114% cheaper than Sydney and 34% lower than Melbourne.
Gross yield numbers for properties that are tenanted aren’t too shabby either.
For those on the hunt for a deal, perhaps consider Brisbane towards 2018 as prices may likely soften.
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Brisbane vacancies continues to increase: SQM

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The Brisbane residential property record has been broken with the sale of a three level clifftop home at Kangaroo Point.
It has been sold for $18.48 million through Ray White New Farm agent Matt Lancashire.
The sale by City Motor Auctions Group boss Angelo Russo and wife Sandra eclipses the previous Brisbane record of $14 million when Australia's richest woman Gina Rinehart bought in late 2014.
<img src="https://www.urban.com.au/images/2017/03/20/Screen%20Shot%202017-03-20%20at%2011.56.52%20AM.png" alt="">
The vast 1445 sqm split level home with five bedrooms and six bathrooms was the work of renowned designer Greg Harris.
The eastern wing of the residence comprises a home office with adjoining board room, serviced by a kitchenette and another home office.
A fully equipped gym and steam room sit on the same floor, and there's also a sound proof cinema.
<img src="https://www.urban.com.au/images/2017/03/20/Screen%20Shot%202017-03-20%20at%2011.58.07%20AM.png" alt="">
One of the homes most spectacular features is the heated infinity lap pool and spa, which run the length of the cliff edge with views of the river and the city.
A lower level temperature controlled wine cellar also offers commanding views.
The marketing suggests no expense had been spared by the owners, even down to the last detail, with heated Saint Lorraine marble flooring from Greece used across the living and entertaining area.
The living and entertaining areas with wood fire pizza oven and teppanyaki barbecue feature heated St Lorraine marble flooring.
Russo paid $4.74 million for the riverfront in 2009 when he bought from law partner Tony Barakat, who had paid $6.3 million just two years earlier.
This article first appeared in The Weekend Australian's Mansion Australia section.
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Brisbane residential property record broken at Kangaroo Point

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The redevelopment of a new shopping precinct in Yarrabilba is underway, with several new major names set to move into the new centre later this year.
The District Centre which spans the area between Yarrabilba Drive, Wongawallan Drive, Waldron Street and Darlington Drive, has signed Coles, McDonald’s and a family medical centre to join an IGA anchored convenience centre, 24-hour Caltex service station and Star Mart, cafes and medical centre.
Managing director of Lendlease’s communities business in Australia, Matthew Wallace, said the development was evidence of the growing popularity of Yarrabilba.
“Attracting residents and locals alike means developing a central hub with the end user in mind and catering for the needs of the community as it continually grows and evolves,” he said.
“We are focused on creating the best places and providing our residents as early as possible with options for dining, great shopping and entertainment.”
<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/2017/03/13/Aerial%20view%20of%20Coles%20construction_Feb%202017.jpg" alt="">
Coles state general manager, Paul Bradshaw said Coles would create around 100 retail jobs once the 3,200 square metre full line supermarket was complete.
“It is part of an investment by Coles of more than $30 million in the Logan Council over the past two years, which is testament to the confidence we have in the future of the region,” he said.
McDonald’s head of property for Queensland and Northern Territory, Luke McGuire, said they were excited to bring the latest style of McDonald’s restaurant to Yarrabilba.
“We’re dedicated to supporting the local community and, through our partnership with Lendlease and Coles, we’re looking forward to helping it grow by offering employment to approximately 90 locals,” he said.
Prices in the centre start from $270,000, commercial / mixed unit sites range from 819 square metres to 1243 square metres.
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Yarrabilba shopping precinct development secures major retail names

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Brisbane has plenty to offer entry-level investors within a reasonable distance from the CBD, according to HTW’s Month in Review: March 2017. 
The valuation firm says suburbs such as St Lucia or New Farm may be out of reach for first home buyers but addresses such as Runcorn, Calamvale, Drewvale, Doolandella, Salisbury, Coopers Plains, Heathwood and Forest Lake are much more obtainable.
However, the firm warns that while first time buyers are competing with investors in these locations, they still stand a great chance of finding their first home in these areas.
HTW says that older detached homes below $600,000 (which is the typical Brisbane median house price) are worth considering.
“Target something that’s had some wear and tear but still includes that key property component of location,” the report suggests.
“Nearby services and facilities are major factors in price growth.
“You can renovate the improvements, but you can’t relocate the real estate.” 
A four bedroom house at <a href="https://www.realestate.com.au/property-house-qld-runcorn-124806998" target="_blank">1 Adamson Way</a>, Runcorn (above) has been listed for over $600,000.
Similarly a four bedroom house at <a href="https://www.realestate.com.au/property-house-qld-drewvale-124849746" target="_blank">11 Linaria Circuit</a>, Drewvale (below) has been listed for over $699,000.
<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/2017/03/15/11%20Linaria%20Circuit.jpg" alt="">
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