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

Joel Robinson

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

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

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

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

Bottega House secures landmark riverfront site in St Lucia 

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

SIERA kicks off construction at Northcliffe tower Exhale

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

Eastern Suburbs buyers snap up ESTE Little Bay apartments

Brisbane

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Raine &amp; Horne are set to have over 80 offices by the end of 2016 with 10 to be opened in in Queensland and two in Sydney.
The Queensland-run businesses are in Brisbane Central, Goodna, Ipswich, Springfield, Mackay, Mackay Beaches, Moranbah, Commercial Mackay, Redcliffe and Banora Point.
The offices in Sydney will be located in Kingsford in the eastern suburbs and Lindfield on the north shore.
The announcement was made by executive chairman Angus Raine, who is confident there will be a stronger market towards the end of 2017.
“I am confident there will be a stronger market towards the end of 2017, but a critical shortage of listings around the country will see many businesses facing a challenging six months, with some agencies forced to reduce costs, which may see some amazing talent leave the industry,” he said.
<img src="/images/2016/10/19/Goodna.jpg" alt="" width="442" height="279">
Raine is concerned that the industry itself can be the biggest disrupter, suggesting margins might be reduced by the heavy discounting of commissions.
“Many businesses and salespeople are willing to pay referral fees to lead generators, when the cost of a sale is continuing to increase and business owners are facing the challenge of “sign-on fees” for key staff and some salespeople commanding higher commissions,” he said. 
“If the trend continues, many businesses will not be able to achieve reasonable returns, thus resulting in some being forced to merge or sell.”
<img src="/images/2016/10/19/Mackay.jpg" alt="" width="439" height="329">
Record low interest rates and a high cost of sale are also contributing to the stock shortage.
“Many who may be looking to downsize are faced with the dilemma of paying more for a townhouse or unit, where in the past they had the ability of selling the family home and having the luxury of putting some money aside for a comfortable retirement,” Raine said.
“The shortage of listings is compounding the issue, with many concerned there won’t be a suitable property to buy. Owners are therefore delaying a listing until market levels improve.”
Raine is confident Raine &amp; Horne, the 133-year old business, will be able to take advantage of an eventual change in the market.
“The recent investment in new technology and systems will see the growth in franchise businesses.”
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j.ballantyne1990-6AQqhLzZaK

Raine & Horne tackles disruption head on with growth

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John James' RL57, the creators of the iconic James Street precinct in Fortitude Valley, have been commissioned to create another food destination in Brisbane's Gasworks precinct.
It will be set on the ground floor of Newstead's new luxury apartment tower Haven, which is currently under construction by developer HCAP Developments.
RL57 has already secured three high profile occupiers, Betty's Burgers &amp; Concrete Co, Salt Meats Cheese and Jocelyn's Provisions.
Each of the groups have identified Haven as their preferred location within the precinct.
<img src="/images/2016/11/02/VW%2015_Draft%2003_H.jpg" alt="" width="495" height="229">
Betty's Burgers, which opened its first restaurant on Hastings Street in Noosa in 2014, has taken an eight-year lease of a 150 sqm space.
Salt Meats Cheese first opened in Sydney's Alexandria in 2012 and now has four more restaurants in Sydney and one in Surfers Paradise.
They have taken a nine-year lease over 170 sqm of space.
A little closer to home is Fortitude Valley's iconic cake, pastry and bread shop, Jocelyn's Provisions, which has a five-year lease deal for 60 sqm of space.
The new venture will be known as Newstead Provisions and will add to the retailer's existing James Street store.
All tenancies, which will be a mix of food and beverage, retail services and showrooms, will all overlook either Waterfront Park of the Gasometer public space.
It will cater to more than 5,000 new residents and the estimated 9,000 office workers expected to take up space in the Newstead area. 
The remaining four tenancies aren't expected to sit on the shelves for long and will be snapped up soon.
CBRE's Anna Dunworth and Chesters Real Estate's Greer Gittoes are handling the leasing.
“RL57 is applying the same knowledge and expertise that made James Street such a success to Haven,” Dunworth told the Australian Financial Review.
Set to be completed mid next year, Haven's retail space will comprise over 1,100 sqm beneath the 25-storey apartment tower.
All of Haven's 220 luxury apartments have already sold out. The penthouse collection was one of the leading premium owner occupier sales projects in Brisbane during 2015.
 
 
 
 
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Haven to become Brisbane's newest centre of foods

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Australia’s largest Ronald McDonald House will be officially opened by the Governor General on November 5.
It is located opposite the Lady Cilento Children’s Hospital and the Mater Mother’s Hospital in South Brisbane.
The “House” has thirteen floors and will initially provide 70 and in the future 112 rooms to accommodate families from rural and regional Queensland whilst their children are receiving treatment at the nearby specialist hospitals.
The design, according to Mark Grimmer, BVN Principal, was aimed to provide a quiet retreat from urban inner city Brisbane with a feeling of a “home away from home” for regional parents and children”.
Mr Grimmer pointed out how the design is underpinned by four key principles associated with home, they are; garden; hearth; house and roof with these ideas being realised through:
<ul>
<li>A range of beautiful landscaped gardens for escape, play and relaxation;</li>
<li>The central hearth, this is a communal space that wraps around the lift core on every level with facilities where residents can gather, drink tea and connect;</li>
<li>Individual “houses” wrapped around the northern courtyard to bring the families together;</li>
<li>The large wrapping roof to shelter the house and signify this is a welcoming home.</li>
</ul>
The selection of materials and detailing decisions are all based on those common to houses, such as textured brickwork, metal roof sheeting and cladding that is also metal but has the appearance of weatherboards.
As well as the ‘hearth’ communal spaces on every floor of the building there is a large main lounge and dining area that is clearly visible from the main entry.  There are also children’s play areas, communal kitchens and a special events space that is located on the top level to take advantage of the expansive views across South Bank to the city.
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Largest Ronald McDonald House to be opened in Brisbane

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South-east Queensland continues to offer "outstanding opportunity" for growth but a sluggish economy, political upheaval, low population growth and an impending apartment oversupply is delaying significant price growth overdue in Brisbane today, according to McGrath’s latest report.
The end of the mining boom has hit Queensland hard, it noted.
Brisbane is no longer experiencing the strong flow of money that came from regional areas where mining workers earning big salaries were investing in Brisbane real estate or buying family homes for a fly-in fly-out lifestyle.
Latest statistics from the ABS and CoreLogic RP Data show Brisbane’s population growth is at its lowest point since 2001.
Continuously strong economic conditions in New South Wales and Victoria and uninspired state management following the Liberal National Party’s removal after one term and now a minority Labor government provides no incentive for big business to set up and expand into Brisbane.
But through all this, the property market is showing resilience, McGrath noted.
According to CoreLogic RP Data, median property values (houses and apartments) along the Brisbane to Gold Coast corridor rose by 5.7% to $482,000 in FY2016 compared to 3.5% growth in FY2015 and 6.7% in FY2014.
Despite all the big picture challenges, the market is currently seen as affordable, safe, steady, reliable and doing well in tough economic conditions.
As always, some suburbs have exhibited exceptional results.
Those with more than 15% house price growth in FY2016 include Robertson (25.6%), Darra (23.9%), Wilston (20.3%), Chelmer (19%), Banyo (17.2%), New Farm (16.8%), Sandgate (16.8%) and Carina Heights (16.2%).
In the apartment market, Brisbane is facing an oversupply with a two-year pipeline of 44,511 dwellings to be completed, according to CoreLogic RP Data.
This is significant when ordinarily about 30,000 apartments would be sold in this timeframe and that includes a combination of old and new.
The oversupply will be primarily around the city and inner ring areas. Investors are increasingly wary of this and some developers have delayed their projects.
"However, it does present an opportunity for owner-occupiers with a long term view," it advised.
The newly boosted first home owners’ grant, up from $15,000 to $20,000 until June 30, 2017 should help young buyers in this market.
On the Gold Coast, plenty is happening – and it’s all positive, the report said.
Locals who bought highly discounted properties in prime areas post-GFC have now renovated or re-built and are selling with a view to buying again in a better location.
They are making money and moving up the ladder through a buy, renovate, sell and repeat strategy.
In the more affordable suburbs, a huge range of buyers including local upgraders, downsizers, renovators, first home buyers and some Sydney and Melbourne lifestyle buyers are targeting up-and-coming areas particularly on the southern Gold Coast.
Buyers are especially drawn to areas such as Miami, Palm Beach and Tugun where good quality houses that are walking distance to the beach are selling for well below $1 million.
These suburbs offer exceptional value and opportunities for growth. A Palm Beach home worth $600,000 is worth $1 million just 9 kilometres up the road in Mermaid Beach.
On the beachfront, Palm Beach buyers are paying $2.5-$3 million compared to $5-5.5 million in Mermaid Beach.
In the prestige market, there have been very few sales above $10 million since 2009 but this year six were recorded over the first three quarters alone, reflecting rising confidence particularly among locals.
<a href="/images/2016/10/31/Audi%20Brisbane.jpg" target="_blank">Click to enlarge</a>
<img src="/images/2016/10/31/Audi%20Brisbane.jpg" alt="">
The biggest deal was the $25 million sale of a Mermaid Beach mansion in September.
There was also the $15.5 million sale of a riverfront Isle of Capri residence to Chinese buyers and two other sales in Mermaid Beach for $13.25 million and $11.45 million.
There was also an $11 million sale on Cronin Island and a $10.9 million sale at Sanctuary Cove.
We remain very optimistic about the Gold Coast. In the lead-up to the 2018 Commonwealth Games, billions is being spent on infrastructure and the economy is becoming more diversified with health and education jobs supplementing the more volatile retail, tourism and construction industries.
On the Sunshine Coast, there is a lot of demand at the upper end in Noosa and Sunshine Beach.
Local upgraders and lifestyle buyers from Queensland, Sydney and Melbourne are spending up to $5 million for properties to either occupy now or use as holiday homes ahead of retirement.
A new record for beach- front homes on the coast was set in September with a $9.3 million sale at Sunshine Beach.
John McGrath’s top picks:
1. Gordon Park
Brisbane’s smallest suburb, Gordon Park offers fantastic value and great infrastructure. Access to the CBD has become much easier with the Clem7 and Inner City Bypass. New cafes are popping up and a ripple effect is occurring from the more established and pricier neighbouring suburbs of Grange and Wilston.
2. Taringa
Situated next to St Lucia and Indooroopilly, Taringa has access to all the same amenities as its blue chip neighbours but offers better value for buyers, McGrath said. According to CoreLogic RP Data, Taringa house prices rose 10.2% in FY2016 but he thinks there is more growth to come.
3. Mermaid Waters
This suburb offers very good value and a mix of waterfront and non-waterfront homes.
“We are seeing at least four to five registered bidders across all auctions in this suburb,” the report stated.
This is an ideal location for second home buyers who don’t have the budget for Mermaid Beach. A lot of buyers are renovating so the suburb is undergoing a facelift.
4. Sunrise Beach
With a median house price of $675,000, it offers better value than neighbouring Sunshine Beach (median $1,015,000) but probably not for long, McGrath suggests. Just a few minutes outside Noosa, Sunrise Beach has had a noticeable kick in activity and 12.5% house price growth in FY2016.
5. Maroochydore
This is a town on the move with its CBD undergoing a complete makeover. Just 2 kilometres from the ocean, there is already a fresh, exciting new vibe on the main street with lots of new roads, retail, commercial spaces and community facilities on the way.
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Brisbane property market resilient despite end of mining boom: McGrath

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The Brisbane home of the mining magnate Peter Bond and wife Louise has been listed for sale.
Rivergum Retreat in Fig Tree Pocket was the 1.2 hectare riverside estate they bought for a cut price $9.5 million in 2009 after it had spent over two years on the market.
It had initially been listed for $12 million by Zoe Cheihk, wife of developer George Cheihk.
<a href="https://www.adcockprestige.com.au/16846855#1" target="_blank">The homestead</a> encompasses a vast 1956 sqm of floor space and has seven bedrooms, nine bathroom and three home offices.
The luxury aspects continue with a 12 seat gold class cinema room.
Offers close December 2 through Adcock Prestige agent Jason Adcock.
This article was first published in the Weekend Australian Mansion Australia property section.
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Mining magnate Peter Bond lists Rivergum Retreat, Brisbane

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A fully-leased retail centre on Bribie Island, north of Brisbane, has been sold for $7.3 million.
The Bribie Retail Centre located at 5-7 Fortune Avenue, Bongaree boasts a high-profile location in the heart of Bribie Island’s main retail precinct.
The property was sold by Glenn Conridge of Burgess Rawson and Jon Tyson of Savills following an expressions of interest campaign that attracted multiple offers.
The property was purchased by Brisbane-based syndicator Arcana Capital, chaired by former Queensland Premier Campbell Newm‎an.
The property is set on a site area of 5,916 square metres and features a total floor area of 1,567 square metres.
Jon Tyson said the Bribie Retail Centre benefits from its prominent location in the dominant retail precinct on Bribie Island as well as its dynamic mix of well-known retailers and strong lease expiry profile of circa 4.6 years.
He said the centre is adjacent to the Woolworths-anchored Bribie Island Shopping Centre, and a future proposed Coles Shopping Centre.
"The modern architect-designed building is divided into four tenancies occupied by Domino’s, Tattsbet, Supercheap Auto and Bargain City with three-street frontage to Fortune Avenue, Bongaree Avenue and Goodwin Drive plus ample grade level parking at the shopfronts."
It also neighbours a freestanding Mitre 10 property that was recently sold by Burgess Rawson and Savills in a separate sale to a private buyer for $2.6 million.
 
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Retail centre at Bribie Island sells for $7.3 million

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Gold Coast developer Adam Lacey has looked to the Brisbane suburb of Upper Mount Gravatt for his first solo project, the $36 million Bodhi Apartments.
The development will feature 78 one, two and three bedroom apartments across eight levels on the corner site.
Designed by RealSpace Creative in association with architects BDA, the building's name, Bodhi, came from a Sanskrit word that traditionally translates into English as 'enlightenment'.
Construction is expected to commence mid 2017.
Bodhi is the first of three new projects to be rolled out over the next 12 months by Lacey, who has established his own property company, Lacey Group.
He had previously spent seven year as co-director of Onyx Property Group.
Lacey said he was expecting interest from both owner-occupiers and investors.
"Bodhi is designed to suit those looking to downsize from large family homes in surrounding suburbs like Sunnybank, together with young professionals wanting a lifestyle location outside of the hustle and bustle of the CBD," he said.
"The position in the core Upper Mount Gravatt redevelopment precinct is also likely to appeal to investors wanting to capitalise on the future growth earmarked for the suburb."
The recent $400 million revamp of Westfield Garden City has rejuvenated the area with new cafes, restaurants and shopping in the suburb's centre.
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Lacey Group to launch first apartment project Bodhi at Upper Mount Gravatt

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The Brisbane industrial market remained steady throughout the first half of the year as leasing and sales transactions were limited.
However, there is a growing sense that urgency will return to the market in the near term as increased enquiry, reduced supply and competition intersect in late 2016, according to Simon Beirne, Colliers International's state chief executive – Queensland.
Beirne says the development pipeline shows the number of properties available for purchase or lease remain limited and a number of requirements are concluded.
“Recycling of capital is also becoming a consideration for owners as investment grade opportunities are scarce,” he said.
“It is expected that these factors will intersect towards the end of this year and into 2017.
“Leasing activity remained subdued in early 2016 as the majority of deals completed fell in the 3,000 square metre to 4,000 square metre range. Activity accelerated for larger deals in the closing stages of the second quarter as number of major briefs were released to market.
“The vacancy rate across Brisbane has increased to 17%t from 13% back in March 2016, but a number of large deals are currently underway and a wave of leases are due to commence in the coming months.”
Leases for a total of approximately 110,000 square metres are due to commence across a number of deals for a mix of buildings and locations including Bevchain, Schweppes, Beaulieu Carpets, MJ logistics, Super Amart and Whites Group.
The most active area has been Gateway South and Logan Motorway corridor where Goodman, Logos, Frasers and Dexus have all had substantial leasing success in the last quarter. These leases reinforce the desire of occupiers to be located in the Logan Motorway precinct or other areas with direct access to Brisbane’s major road network.
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Urgency returns to Brisbane industrial market: Colliers

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Construction has commenced on the next stage of the $152 million industrial estate New Base in Brendale, Queensland.
Moreton Bay-based AVID Property Group general manager Bruce Harper turned the first sod on Stage 7B at the site.
“In the last 12 months, we have seen good activity from both investors and owner occupiers with 100% of lots sold at New Base,” Harper said.
“The demand for land continues, so we expect the lots released in this next stage to perform just as well.”
New Base marketing agents Dillon Murphy from CBRE Industrial and Mark Horgan from Knight Frank said lots in the area were being sold as quickly as they were being constructed.
“Industrial is currently one of the strongest performing sectors in the commercial property market,” said Murphy.
“Industrial land sales are up from this time last year, which are reflected by peak rates close to those of pre-GFC days. 
“We’ve also seen a 25-30% increase in take up rate of stock in the last 12 months and there’s every sign that this will continue well into the future.”
Horgan said spiking sales were being driven by a number of factors, including A-class stock, location and low interest rates.
“More and more businesses are performing corporate business activities from their industrial facilities than they have before. Businesses are quite discerning in their appearance and are seeking more desirable buildings to portray their corporate image, so the days of older, low height metal clad sheds are now becoming obsolete,” he said.
“These are state-of-the-art facilities with fit-outs that rival some inner-city offices, with some tenants investing up to $1 million on interior office component alone.
“And it’s not just about looks – tenant and owner-occupiers are now seeking more efficient spaces, with increase in warehouse heights to accommodate importing requirements and racking capabilities as well as improved access to facilitate easier truck movements.
“We’ve also had businesses reporting improved staff retention, a reduction in staff travelling time and fewer sick days due to relocation in areas like Brendale.”
Moreton Bay Regional Council Mayor Allan Sutherland said construction on the next stage of New Base reinforced the Moreton Bay Region’s status as Queensland’s strongest economy.
“You only have to look at the businesses that already call New Base home, like Super Retail Group, Aldi and VISY, to see how strong our region’s economy is,” he said
“This is an exciting project that will generate more than 100 local jobs during construction, and once complete is expected to provide vital long-term employment opportunities for residents throughout the region.”
Sutherland said stage 7B would add another element to the existing economic opportunities in Brendale and had no doubt it would be a sought after location with its close proximity to major transport and trade corridors like the 12km Redcliffe Peninsula Line as well as the new Mill at Moreton Bay university precinct just 5km away.
Set on 85 hectares of land and comprising 107 lots, civil construction of Stage 7B at New Base has commenced.
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Brendale’s $152 million industrial estate fast-tracked

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The Fig Tree Pocket, Brisbane home custom built by Kayhan Tabrizi of award-winning Tabrizi Home Builders has been listed for sale.
The newly completed river-front entertainer is a five-bedroom, four-bathroom home with a four-car basement garage.
There is a pool and landscaped gardens down to the river.
The home is for sale through Cathy Lammie of Cathy Lammie Property with $2.3 million to $2.5 million price guidance.
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