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

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

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

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

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

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

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

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

Brisbane

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Paul Broad of Broad Property Research and Advisory said Hamilton's proximity to the river and access to major infrastructure had made it a stand-out performer.
"Whether it is located near an ocean, lake or river, people pay a premium for waterfront property because waterfront land to build upon is scarce," he said.
"Not only is Hamilton a riverside suburb, it has been one of the prime beneficiaries of major infrastructure spending, with all of Brisbane's major arterial routes immediately accessible through the city's network of tunnels.
"The suburb's winning combination of location, amenity and infrastructure is something investors cannot ignore, particularly in the absolute riverfront developments."
"The basic principles of supply and demand dictate that prices go up for any desirable item for which there is a limited supply.
"The old adage that the three secrets to real estate are 'location, location, location' holds true in that being on the water is typically the best location available.
"The high household income at Portside Wharf is mainly due to the fact that 40 percent of Portside Wharf's residents aged over 15 are professionals, compared to just 19 percent across Queensland as a whole.
"This provides a pool of quality tenants who desire, and are willing to pay premium rents for well-positioned property." 
Mr Broad said 2011 Census data put the median weekly household income in Brookfield Residential Properties'  Portside Wharf precinct, which neighbours the new Gallery House apartments, at $2,416 per week, nearlydouble the average median weekly household income of $1,235 per week across Queensland.
<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/2017/02/14/700_couple.jpg" alt="">
Jonathan and Brianna Parsons (above) were among the first to purchase at Gallery House, which will sit on a prime riverfront site in Hamilton. 
Mr Parsons said the backdrop of the Brisbane River and CBD was one of the biggest motivators.
"Our one bedroom apartment will be spacious and we will also love the break-out spaces like the rooftop pool and barbeque area, which will be great for entertaining," he said.
"We decided the apartment was perfect for our self-managed super fund because we can't see ourselves ever wanting to sell something as rare as this.
"We are buying for the long term and over the years we have observed that riverfront apartments are always in high demand and are much more resilient to market fluctuations than non-riverfront locations."
For more information on Gallery House visit the new Sales &amp; Display Centre at Portside Wharf or gallery-house.com.au.
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jonathanchancellor-7SQnKwU6yx

Riverside location driving Hamilton, Brisbane apartment market

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The Brisbane technology entrepreneur richlister Bevan Slattery has sold his redundant Fig Tree Pocket home for $6 million through Jason Adcock of Adcock Prestige.
The Aminga Street property came with a 67 metre frontage to the Brisbane River.
The classic Hamptons style riverfront home was bought by Bevan and Jodie Slattery in 2010 but has sat empty while the Slattery’s drew up plans to build their dream home.
It was bought from Dean and Amanda Wanless six years ago.
Sold five times in the past two decades, the house was previously owned by medico turned politician Dr Bruce Flegg.
With interiors sourced from Noble House on the Gold Coast, the house has had a four month makeover.
Slattery, who sits on the board of Swimming Australia, retains a home a few streets away. Adcock advised the listing was hotly contested with two buyers, both already on the river but keen to upgrade.
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firstname1-iYD4UYzvBa

Bevan Slattery sells Fig Tree Pocket riverfront

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The average price of a house in Brisbane can go as high as $515,000, according to CoreLogic’s latest report.
The property data firm says that the average price of a unit in Brisbane is $388,000.
<a href="https://www.propertyobserver.com.au/images/2017/02/13/Screen%20Shot%202017-02-13%20at%201.20.27%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/2017/02/13/Screen%20Shot%202017-02-13%20at%201.20.27%20pm.jpg" alt="">
Sydney continues to be the most expensive locality to purchase a house with a median price of $786,844.
Similarly a unit in Sydney can cost up to $675,000.
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j.ballantyne1990-6AQqhLzZaK

Average Brisbane home costs up to $515,000: CoreLogic

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Construction is slated to begin July on Ferro Property Group's $27 million London Residences in Brisbane.
The residential development, 10 Bailey Street, West End, will feature 27 three and four bedroom residences, three 2-story manors, two terrace residences and 22  three bedroom residences.
Marco Ferro, developer, said the boutique market for larger, custom-designed three and four bedroom apartments in Brisbane was largely untapped and very strong.
“We purchased the site at 12 Bailey Street about 12 months ago and since then have been focused on perfecting the design both internally to ensure each Residence is completely unique and special for owners, and externally, to ensure London Residences complements the West End character and location," he said.
“We know the boutique owner-occupier market have very specific needs – and to meet these we have created a mix of oversized residences  - unique 2-story Manors that feature three bedrooms plus sitting rooms, The Terraces which are over 200sqm and home to 4 bedrooms plus study as well as the range of 3-bedroom Residences.
"Completely new to the market is the storage plans – we have dedicated half a floor to storage for owners, each ranging from 6-14sqm and attached to the Title, as well as car parking for 2 to up to 4 cars per residence. This is a flagship development, with owner needs pre-empted and delivered.” 
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$27 million Brisbane development London Residences begins July

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Retail tenants seeking to capitalise on the potential of Coorparoo Square, Brisbane have committed to 80% of the total available lease area in the mixed-use precinct.
The development, due for completion in the third quarter of 2017, has secured 13 tenants, including cinema group Dendy and supermarket giant ALDI.
The leasing campaign has also attracted a range of innovative food outlets, including two burger retailers, Remy’s and Hello Harry, Mexican specialist Poblano, Saffron Indian, Mission Vietnamese and Kivahan bakery, as well as hairdresser TigerLamb and barber Chop Spot.
Coorparoo Square, a joint-venture project between Frasers Property Australia and Honeycombes Property Group, will deliver a major mixed-use precinct to the heart of Coorparoo, just 4.5 kilometres from the Brisbane CBD.
Coorparoo Square has been developed in line with the Brisbane City Council’s Eastern Corridor Neighbourhood Plan which showcases the principles of high quality urban design with a focus on transit-oriented communities catering to residents and workers. The precinct is a major transit hub within the city’s bus network.
The $252 million development, which comprises 366 residential apartments and 6,700 square metres of retail space is appealing to a broad suite of tenants.
Cameron Taudevin, head of retail leasing Queensland at JLL, said leasing enquiry has been strong for Coorparoo Square, complementing a near sellout of residential apartments in the development. He said Dendy and ALDI have been significant drawcards that have led to strong interest from national and local business operators.
“Coorparoo Square offers a great inner Brisbane location and the retail precinct benefits from the many apartments within the development,” said Taudevin.
“A number of prospective tenants who enquired as early as 2015 have secured leases in Coorparoo Square with the aim to open upon completion of construction in the third quarter of 2017.
Coorparoo Square has 12 tenancies remaining for lease, ranging in size from 53 square metres to 87 square metres at street level, and 200 square metres for a lower ground level tenancy.
“Our current focus is on groups with particular uses that suit the retail amenity, such as an artisan baker, beauty therapist, optometrist and complementary medical uses.”
Retail leasing enquiries at Coorparoo Square are being handled Cameron Taudevin and JLL Leasing Executive Taylor Macri.
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New Coorparoo Square precinct signs up ALDI among retail tenants

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Stockland has listed a 22,800sqm retail development site in its residential community south of Brisbane, Pallara.
It is part of the Lower Oxley Creek growth area and adjoins the established residential suburbs of Algester, Forest Lake, Heathwood and Acacia Ridge.
Potential developments include a supermarket, child care facility, medical centre, petrol station and fast food outlet. 
The site, on Gooderham Road, has three street frontages and is being marketed for sale by Michael Harcourt and Peter Tyson of Savills.
The residential development features 720 homes slated for the next 5 years as well as an industrial precinct.
Michael Harcourt of Savills Retail Investments said, the site presents a substantial retail land offering at the entrance to the Pallara community, which will be home to many young families.
“We are anticipating strong demand from developers for this high profile site due to its prime location along Gooderham Road, which connects the established suburbs of Heathwood, Willawong and Acacia Ridge, as well as the continued growth in surrounding areas such as Heathwood and Doolandella.”
The property will be offered for sale via Expressions of Interest, closing in March 2017. 
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Stockland lists retail development site in Brisbane's Pallara

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Mirvac and the Brisbane Racing Club’s $950 million residential precinct at the Eagle Farm Racecourse is off and racing with the developer announcing that construction has now started.
It is on Ascot Green’s first residential tower, Ascot House.
Mirvac has sold more than 60 per cent of the nine- storey, 91-apartment tower since launching the development to the public in July 2016.
Mirvac's Warwick Bible said Ascot Green’s civil works including external road works, site preparation and basement excavation are now well underway, and the foundations commenced in December 2016.
"We expect heightened interest in Ascot Green in the coming months as our vision for the project takes shape.”
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The historic Eagle Farm catchment will see an architecturally-designed new precinct with works approved for public parklands, bike paths, open green spaces and plans for public art to be exhibited in the communal outdoor areas.Lord Mayor Graham Quirk said the residential development and overall revitalisation of the Eagle Farm precinct would help put the area on the map as a premier recreation and residential destination in Brisbane.  
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“The Eagle Farm Master Plan and Mirvac’s Residential Precinct are welcomed additions to our city, and will provide a vibrant and innovative hub where people can live, work and relax,” Cr Quirk said.
“It is an exciting time for Brisbane, as construction commences on this landmark development which will provide approximately 1,000 trackside apartments as well as retail and commercial buildings that tie in with the area’s rich heritage.
“The Eagle Farm and Doomben Racecourse precincts contribute to tens of millions to Brisbane’s economy each year, and this residential precinct will be the centrepiece for the reinvigoration of the Eagle Farm site.”
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Brisbane Racing Club Chairman, Neville Bell, said there were plans in place for premium retail facilities and building of a new childcare centre is currently underway.
“We’ve recently submitted a development application for a new shopping precinct in the area which would include eleven specialty retail stores and a major supermarket, further bolstering the area’s appeal,” Mr Bell said.
“In addition, we currently have a new childcare centre on Lancaster Road under construction, and we are taking expressions of interest for an aged care facility in the area.
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Stage One of Ascot Green boasts two towers, Ascot House and Tulloch House, each of which contains a selection of one, two, three and four bedroom apartments. 
The nine and 12 storey buildings will feature rooftop terraces where residents and guests can enjoy views of the historic Eagle Farm racecourse and city beyond.
Apartments start at $460,000 for a one bedroom in Tulloch House, with this tower to be released to the public in early 2017.
 
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Brisbane's Ascot House construction starts after 60 percent sold off the plan

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The Brisbane CBD saw six major sales with yields at a high 7-8 percent for most, as recorded by Savills in its Q4 2016 office market report, with yields remaining steady from the previous quarter for selected sales.
The highest yield was 8.53 percent for 348 Edward Street which had a net lettable area of 11,484 sqm and $4267 per sqm, according to Savills.
<a href="https://www.propertyobserver.com.au/images/2017/01/23/Feb1CommPropBrisbaneSales.png" target="_blank">Click here to enlarge</a>
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As for renting, the gross face rental for premium buildings was in a tight range of $795 to $855 per sqm, while for A grade it was between $600-$700 per sqm and B Grade was from $525 to $580 per sqm.
The highest paying tenant was Henry Morgan in the Brisbane CBD area with $810 per sqm for an NLA of 500 sqm at 123 Eagle St, data showed. 
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Brisbane CBD office market yields around 7-8 percent for major deals: Savills

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Centuria Property Funds announced it has sold its commercial office tower in Brisbane’s Spring Hill for $38.7 million to Sentinel Property Group.
The <a href="https://www.realcommercial.com.au/property-offices-qld-brisbane+city-502102890" target="_blank">200 Creek Street</a> A-grade building has 10 stories and is a prominent office tower in the northern precinct of the CBD. It had been expected to fetch around $40 million.
The sale was managed by Peter Court and Mike Walsh from CBRE and Seb Turnbull and Luke Billiau at JLL.
Jason Huljich, CEO of Unlisted Property at Centuria, said, “We purchased the property in 2011, and since then we have carried out a series of upgrades and refurbishments designed to make the building more appealing to tenants. As a result, the property was taken to market with an occupancy rate of over 95%, with a weighted average lease expiry of almost four years, which made it particularly attractive to buyers.” 
It has nearly 7,603 sqm of net lettable area spread over three ground floor tenancies and nine upper levels of office accommodation. 
The property is close to the Central train station and just outside the Golden Triangle.
Huljich added that the tower was well-located from a potential re-development perspective, as a result of the planning provisions included within Brisbane City Plan 2014 and the proposed Draft Spring Hill Neighbourhood Plan.
He concluded by saying that he foresees good opportunities for commercial property investors in 2017. 
“Looking forward into 2017, we are confident there will be some good opportunities in the major metropolitan markets - in particular Sydney and Melbourne, although we are also looking carefully at our options in Brisbane and Canberra. 
“Our investment strategy has always been primarily asset-driven, which means we are open to all markets and properties where we see the potential to buy well, add value and achieve strong long term returns for our investors,” said Huljich. 
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Centuria divests from office tower in Brisbane CBD for $38.7 million

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As Brisbane gears up to reap the rewards of tourism and migration from the Gold Coast Commonwealth Games in 2018, another trend is taking shape.
The price performance between houses and apartments is expected to diverge owing to an oversupply in unit construction, says a new research report.
Apartment approvals in Brisbane are well above their 10-year average, while approvals for new houses remain around normal levels, according to a report by investment consultancy Momentum Wealth, Property Market Spotlight: Brisbane. It suggests that investors should focus on inner-metro houses, with large land content and low supply for better returns.
While demand-side fundamentals are positive, including a growing labour market, population growth, a balanced economy and high housing affordability, the difference in the supply-side fundamentals is of concern. 
Momentum Wealth’s managing director Damien Collins says there will likely be “a greater divergence between the performance of houses and apartments, given these supply-side fundamentals”. 
In the city’s current growth cycle, which started in the middle of 2012, Brisbane house prices have risen 18.9%, while the median unit price has risen only 11.2%. The median house price (annual) was $497,000 while for units, it was $397,500, the report says. 
There have been mixed performances between houses and units over the past 12 months with houses up 4.8% over the year to June 2016 compared to 2.4% growth for units. 
Other measures, such as the Corelogic Hedonic Home Value Index October 2016 results, actually have unit values down 1.4%. When analysing either measure, it is clear that units are underperforming against houses in a sign that new supply is beginning to reduce growth. 
There are early signs that buyer demand is waning amid record-high levels of residential construction on the back of the 2014 Brisbane Planning Scheme being implemented. The total number of properties listed for sale increased 7.4% over the past 12 months and the number of deals has fallen for the past three quarters. The average time on market for houses and units is 55 days and 74 days respectively, an increase of seven days on the same time last year. Despite this, there remains very little change in discounting within the market, suggesting that owners are being realistic with their asking price. 
“The research report explains that as the pipeline of new apartment projects comes to market, it’s going to weigh on rental returns and capital growth for these types of assets, particularly in those areas with a high concentration of new stock.”
“However, the research report shows that the number of houses under construction is in line with the 10-year average, meaning this segment will not reach a state of oversupply at current rates, which will help to buoy prices.”
Top areas with high apartment approvals 
The suburbs with the highest concentration of apartments approved for construction include South Brisbane (2,084), Brisbane City (1,731), Newstead – Bowen Hills (1,493), West End (846) and Chermside (704). 
“Investors should avoid apartments in areas with high levels of new supply waiting in the pipeline because when it comes to market the new stock will weigh on capital growth of similar stock in the surrounding areas,” added Collins.
“While we don’t expect all of these new apartment projects to go ahead, there will still be a considerable amount of new apartment supply coming to market in Brisbane over the next few years.”
“In the Brisbane market, investors should instead focus on established houses, in inner-metropolitan areas with large land content and low supply.”
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