Abadeen has released the whole-floor penthouse crowning its recently completed <a href="https://www.apartments.com.au/buildings/park-residences-cremorne-2-sutherland-street-cremorne-nsw-2090">Park Residences</a> development in Cremorne, bringing the near-300 sqm residence to market for the first time.

Occupying the entire top floor of the boutique Lower North Shore development, the penthouse includes 221 sqm of internal living and a 74 sqm wraparound terrace, with a prized north-facing aspect taking in views across Middle Harbour.

The residence has been completed and fully furnished following a collaboration between Abadeen Executive Chairman Justin Brown and internationally recognised interior designer Jack Freeman, Founder and Managing Director of FREEMAN &amp; CO.

<a href="https://www.apartments.com.au/developers/abadeen">Abadeen</a> and Freeman approached the penthouse as a finished home, sourcing furniture, artwork, lighting and objects from Australia and overseas.

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[smartcode_project:default project_id=114246 project_image_fid=378718]

Pieces from Parisian design house Pierre Augustin Rose sit alongside contemporary artworks and bespoke lighting, with Freeman drawing on recent visits to PAD Paris and Salone del Mobile Milano for the final collection.

Brown said the aim was to create a penthouse that felt more like a large-scale private home than a traditional apartment.

"The experience begins the moment the lift doors open. You're welcomed into an elegant dining room before the home opens into an extraordinary living space framed by sun-drenched harbour views.

"Every time someone walks through the front door they pause. It's not just the view, it's the incredible sense of space, the warmth created by the northern sunlight that fills the interiors, and the way every room connects so effortlessly.

"It has all the proportions of a luxury home, while delivering the effortless lifestyle and personalised experience of living in a world-class six-star hotel, combined with the simplicity and convenience of apartment living."

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[smartcode_project:default project_id=114246 project_image_fid=378713]

A secure lift provides exclusive access to the penthouse level, opening to a dedicated arrival foyer and dining area before the residence expands into its main living and entertaining spaces.

Floor-to-ceiling glazing runs across the northern side of the home, connecting the interiors with the terrace and Middle Harbour outlook.

The penthouse also features a fireplace and substantial chef's kitchen, while the wraparound terrace has been designed to accommodate both everyday outdoor living and larger-scale entertaining.

[smartcode_project:default project_id=114246 project_image_fid=378720]

Freeman said the interiors had been deliberately kept restrained to complement the scale, natural light and outlook already established by the architecture.

"The penthouse is a serene study in quiet luxury," Freeman said.

"The interior pairs soft, sculptural forms with warm timber, pale stone and a restrained neutral palette. Curated artwork and metallic accents add depth, while abundant natural light creates a calm, effortlessly refined atmosphere. In my world, less is always more."

Freeman said the approach was centred around collecting individual pieces rather than simply decorating the apartment.

"Every material, every object and every piece of furniture has been curated with intention. I am a true believer in collecting versus decorating.

"The architecture already provided extraordinary natural light, remarkable volume and an uninterrupted connection to Middle Harbour. Our role was to complement those qualities with unique one-of-a-kind pieces of fine art and collectible design sourced from recent travels around the world."

[smartcode_project:default project_id=114246 project_image_fid=378694]

Among the collection are solid bronze sculptures by Lorenzo Quinn, alongside a curated crystalware collection and pieces sourced from international design fairs.

Park Residences sits opposite Cammeray Golf Club, Cammeray Croquet Club and Grand Slam Tennis Cammeray, around 300 metres from Neutral Bay Village and its established collection of restaurants, cafés and retail.

Brown said the combination of a whole-floor floorplan, northern aspect and proximity to Neutral Bay was becoming increasingly difficult to find on the Lower North Shore.

"Completed whole-floor penthouses with a sun-drenched north-facing aspect and sweeping Middle Harbour views are exceptionally rare," Brown said.

"Add a quiet position opposite golf, croquet and tennis facilities, a level walk to Neutral Bay Village and only minutes to the CBD, and you have a lifestyle that's incredibly difficult to replicate.

"This is a home that offers the privacy and generosity of a luxury residence together with the convenience of one of Sydney's best-connected harbourside locations."

The penthouse will be exclusively marketed by SRM Residential.

[smartcode_project_cta:default project_id=114246]

Joel Robinson

Abadeen unveils signature penthouse at Park Residences in Cremorne

New Brisbane developer Dalcott has unveiled Marrone, the first of three residential projects it is planning in and around Browning Street in South Brisbane.

<a href="https://www.apartments.com.au/new-apartments/marrone-south-brisbane-39-browning-street-south-brisbane-qld-4101">Marrone</a> will comprise 97 predominantly two- and three-bedroom apartments, with larger residences aimed squarely at the owner-occupier market.

The project will sit in a quiet pocket of South Brisbane between South Bank and West End, close to the restaurants, cultural attractions and riverfront amenity that have driven the suburb's continued transformation.

Dalcott is targeting buyers looking for more space and amenity than has traditionally been offered in the inner-city apartment market, particularly downsizers and professionals wanting to remain close to the city.

[smartcode_project:default project_id=149951 project_image_fid=377072]

Resident facilities will be concentrated around an extensive rooftop amenity offering, including a swimming pool, spa, infrared sauna, warm and cold magnesium plunge pools, private lounge, dining room and outdoor entertaining areas.

Dalcott Managing Director Lachlan Cottee said South Brisbane's combination of lifestyle, connectivity and established character had been central to the approach to Marrone.

“South Brisbane offers a combination of lifestyle, connectivity and character that’s difficult to replicate elsewhere in Brisbane,” Cottee said.

“Our focus has been on creating homes that feel connected to that environment while providing the level of design, functionality and quality that today's owner-occupiers expect.”

The residences will feature an expressive material palette. Italian Calacatta Viola marble, known for its deep burgundy veining, will be paired with aged brass tapware, Chestnut engineered timber flooring and Tuscan Oak joinery.

<img alt="Marrone" data-entity-type="file" data-entity-uuid="b8d833da-3b30-496a-ae30-07bdff371b50" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-25%20at%2010.52.35%E2%80%AFAM.png?VersionId=P6DAgOfaQzIXljKKK5j3e5NhWtrHIu9G" />

Bathrooms will feature Nara Japanese ceramics and glass bricks, while clay, walnut and brass lighting will be used throughout the apartments.

Dalcott has appointed Realm Projects, led by Managing Director Shane Foley, to handle sales and marketing following previous sold-out collaborations between the groups.

Foley said the Brisbane apartment buyer had become increasingly focused on the quality of the home itself rather than simply securing an inner-city address.

“We expect to see strong demand from buyers who still want all the advantages of inner-city living but aren’t prepared to compromise on the quality of their home,” Foley said.

“Many will be downsizers looking to leave behind the maintenance of a traditional family home without giving up the space they enjoy, while others are likely to be professionals wanting a residence that reflects the way they live today.”

“Marrone responds directly to that demand, with generous floorplans, exceptional resident amenity and a location that places some of Brisbane’s best dining, entertainment and cultural attractions within walking distance.”

<img alt="Marrone" data-entity-type="file" data-entity-uuid="61f7b22f-899e-4c0f-940a-7d3ab1bfb93a" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-25%20at%2010.52.44%E2%80%AFAM.png?VersionId=PvN1JYxBgUpyCB7efKo52WGdSDs9nmim" />

Marrone will be the first project delivered as part of Dalcott's broader investment in the precinct.

It will be followed by La Terra, a boutique project comprising penthouse-style, single-level apartments on a northeast corner site with extensive resident amenity and city views.

Cottee said Marrone represented the first stage of the group's longer-term plans for the area.

Dalcott was established in 2025 by Lachlan Cottee and Ben Dalgliesh, combining development and construction capability under an integrated model and focusing on architecturally considered residential projects.

Marrone will initially be offered through a pre-release registration campaign ahead of its broader public launch.

Dalcott targets owner-occupiers with South Brisbane debut Marrone

Parnell Developments is the latest to seek significant uplift through the NSW Government's Housing Delivery Authority on a Strathfield site previously approved for a much smaller apartment development.

Parnell has sought approval for a 32-storey mixed use tower across&nbsp;<a href="https://www.apartments.com.au/new-apartments/7-lyons-street-strathfield-nsw-2135">3-7 Lyons Street and 18 Parnell Street</a>, a&nbsp;1,857 sqm site around 400 metres from Strathfield Station. The building would yield 160 apartments, 15 per cent of which will be dedicated affordable as per the government mandate for buildings seeking additional uplift.

Approved previously was a nine-storey building back in 2022 with just over 30 apartments. That approval came prior to the project being&nbsp;progressively reconsidered as planning policy shifted toward greater density around transport hubs.

<img alt="Strathfield" data-entity-type="file" data-entity-uuid="c5af5281-a643-4eb2-b8c4-0081b59c04c7" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-25%20at%209.16.48%E2%80%AFAM.png?VersionId=37bd3mI7rHNpThOV_75VO8xsGFwWOi1u" />

Turner has designed the latest building that would replace&nbsp;existing detached homes across the four lots.

The apartment mix comprises 22 one-bedroom apartments, 107 two-bedroom and two-bedroom-plus configurations, and 31 apartments with three or more bedrooms. The scheme also includes 203 car spaces across six basement levels and 58 bicycle spaces.

The proposal has been designed around a three-storey podium addressing Lyons Street, with the tower rising above and stepping toward its upper levels.

Turner said the podium was deliberately scaled to respond to the existing street, while the taller element has been designed as part of the emerging skyline anticipated around Strathfield Town Centre and the wider Homebush transport-oriented development precinct.

The Lyons Street frontage would have a more active, pedestrian-focused character, incorporating the commercial tenancy, landscaping and a brick-framed podium with an awning.

<img alt="Strathfield" data-entity-type="file" data-entity-uuid="14b20874-b8c3-4ac7-bc03-92be9a69fb78" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-25%20at%209.17.48%E2%80%AFAM.png?VersionId=av.9TxtqIRTC6v3PkSuu1rL9rreWoe2h" />

Parnell Street, which faces the railway corridor, has been given a different architectural treatment, with double-height breeze blocks, landscaping and communal areas used to soften the interface with the rail infrastructure.

The tower itself uses curved and recessed facade elements, with wave-like indentations across the northern elevation breaking the building into three vertical forms.

A palette of grey concrete, brick and breeze blocks is complemented by clay and terracotta accents, while the upper tower adopts a lighter expression through articulated slab edges, vertical fins and recessed glazing.

Residents would have access to 467 sqm of communal open space spread across three levels. The ground floor would accommodate the more active resident areas, including barbecue and group gathering spaces and an internal communal room capable of being used for working from home.

A more passive viewing deck is proposed at level three, overlooking the ground-level landscaping and neighbouring tennis courts, while a rooftop "sunset deck" at level 30 would provide another social and relaxation space.

<img alt="Parnell" data-entity-type="file" data-entity-uuid="c3dce401-a80f-4682-8471-4caa01180880" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-25%20at%209.17.34%E2%80%AFAM.png?VersionId=Xyo8JVqbOhSJXNy6Ih.1cHL.O6i0bGR." />

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Strathfield has been earmarked for substantial change through the Strathfield Town Centre planning work and the nearby Homebush TOD precinct.

Turner's report says the project has been designed to act as a transition between the existing low and mid-rise development surrounding the site and the taller built form expected to emerge across the town centre.

The proposal is being assessed as State Significant Development under the HDA pathway, alongside the concurrent request to amend the Burwood Local Environmental Plan.

First look: New apartment tower pitched for Strathfield Town Centre precinct

An $18 million penthouse has hit the market in Main Beach as construction tops out on La Mer, the $155 million apartment development rising just metres from the beach.

Spanning around 600 sqm across the top two levels of the 29-storey tower on Main Beach Parade, the four-bedroom penthouse is one of the latest eight-figure residences to test the upper end of the Gold Coast apartment market.

Its launch comes amid continued activity at the very top of the market, following the $30 million off-the-plan sale of a Burleigh Heads penthouse earlier this year, which surpassed the Gold Coast's previous $24 million apartment record set in 2023.

The <a href="https://www.apartments.com.au/new-apartments/la-mer-main-beach-3580-main-beach-parade-main-beach-qld-4217">La Mer penthouse</a> has been designed as a private residence in the sky, with 360-degree views spanning the ocean, Broadwater, hinterland and Gold Coast skyline.

[smartcode_project:default project_id=95606 project_image_fid=378731]

All four bedrooms have ensuites, while the ocean-facing master retreat occupies around half of the upper level and includes its own lounge, private balcony, two walk-in wardrobes and an oversized ensuite with a freestanding stone bath positioned to take in the views.

The residence also features a kitchen designed to accommodate a private chef, a 3.6-metre island bench, expansive butler's pantry, wine cellar and integrated bar.

[smartcode_project:default project_id=95606 project_image_fid=378732]

A rooftop pool and substantial outdoor entertaining area with its own kitchen sit above the residence, while a grand staircase connects the two internal levels. The penthouse also has its own express lift.

OTP Group Director James Elliott, who is marketing La Mer, said the penthouse was expected to appeal to high-net-worth buyers seeking either a permanent Main Beach residence or Gold Coast holiday home.

“The La Mer penthouse represents exceptional value, considering its quality design, size, privacy and location, not to mention the 360-degree views capturing the beach and Gold Coast Broadwater,” Elliott said.

“We’re anticipating interest from high-net-worth individuals and couples seeking a residence or holiday home in the sought-after village enclave of Main Beach, taking advantage of the unprecedented growth underway in the area and neighbouring The Spit.”

[smartcode_project:default project_id=95606 project_image_fid=378736]

La Mer is being developed by developer-builder ODUS and Nazero, in partnership with funder Metrics Credit Partners.

ODUS Director Byron Sakha said topping out the tower had provided the opportunity to release the project's most significant residence.

“We’ve worked with internationally-recognised studio Sici Design on the penthouse interiors, with a focus on ensuring it isn’t luxury for luxury’s sake. Every element has been thoughtfully designed to enhance quality of life for those who call it home,” Sakha said.

“The views are the hero of virtually every space, but we’ve given equal attention to the fittings and finishes, so every detail exudes elegance and refinement.”

Sici Design Founder and Director Maria Papadopoulos said the extensive views became an integral part of the interior design rather than simply something the residence was designed around.

“The views weren't something we designed around, they became part of the design itself, with the true luxury of La Mer in its feeling of peace, calm and wellbeing,” Papadopoulos said.

“Luxury isn't defined by how something looks, but how it makes you feel, and we believe a luxurious home should be beautiful to live in, not stressful to maintain.”

The interiors combine Austral Dream Dolomite natural stone and travertine with timber flooring and a restrained coastal palette.

[smartcode_project:default project_id=95606 project_image_fid=378734]

Designed by Plus Studio, La Mer is one of the more boutique additions to the rapidly changing Main Beach apartment market.

The tower comprises just 24 full-floor, three-bedroom plus multipurpose room apartments below the two-level penthouse, giving the project a considerably lower density than many of the larger towers being developed across the Gold Coast.

Residents will have access to a pool and spa, gym, sauna, barbecue facilities, private sun lounges, yoga lawn and outdoor beach shower.

The penthouse has been released as part of the final collection of residences at La Mer, with remaining apartments priced from $4.3 million.

Construction is expected to complete later this year, with a fully furnished display apartment now open on level four.

[smartcode_project_cta:default project_id=95606]

ODUS releases $18 million penthouse crowning La Mer Main Beach

<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.

[smartcode_project:default project_id=509 project_image_fid=365685]

"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."

[smartcode_project:default project_id=509 project_image_fid=368869]

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.

[smartcode_project:default project_id=509 project_image_fid=365689]

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.

[smartcode_project:default project_id=509 project_image_fid=368872]

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.

[smartcode_project_cta:default project_id=509]

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

Brisbane

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Brisbane's Mary Lane is a new development integrating a five-star hotel with a collection of luxury residences in the heart of the city.
Mary Lane incorporates the internationally acclaimed five-star hotel, Westin.
It will be a collection of one, two and three bedroom residences and a limited amount of penthouses atop Brisbane’s first Westin Hotel.
Mary Lane Development Manager, Ian Pert, of GMP Management, says that Mary Lane will add a new dimension to the Brisbane CBD living experience.
“While the fusion of five-star hotels and luxury residences has been a successful concept in international cities such as Singapore, Hong Kong and New York, the concept is relatively new in Australia.
“The project will provide an exclusive and ultimate city living experience for Mary Lane residents. Westin guests and residents will have a choice of bars and restaurants fronting Mary Street in an open and green fringed podium.”
Marketed by Colliers International, Mary Lane was the highest selling residential development in the Brisbane CBD for the first quarter of 2016.
Colliers International Director, Andrew Roubicek, says Mary Lane offers a luxurious and quiet city address that provides an easy transition between work and play as well as the ease of a ‘lock and leave’ lifestyle.
Designed by global architecture and consulting firm, Woods Bagot, each residence is embellished with synonymous designer features desired by “next generation” city buyers.
“Woods Bagot created Mary Lane with the amenities on the rooftop skydeck featuring an infinity pool, cardio gym, fully equipped functions room and views across Brisbane.
Residents will also have a separate lobby, secure lift access and access to Westin’s illustrious concierge and hotel amenities on a fee-for-service basis.
One, two and three bedroom residences starting from level 17 are now selling from $460,000.
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j.ballantyne1990-6AQqhLzZaK

Mary Lane, Brisbane's 5-star apartments above the Westin Hotel

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At a time when vacancy rates are down nationally, suggesting the market is still tight, some units in inner-city suburbs of Brisbane are finding it difficult to find a buyer, according to SQM Research.
Apartments at 1-4/42 Le Geyt Street in Windsor in Brisbane hit the market in January this year with an asking price of between $498,000 and $525,000.
Yet, even in August, four remain unsold, and the vendor has dropped prices by more than $50,000, says SQM Research. 
The apartments were completed in June 2016. The two bedroom, two bathroom apartments with parking are touted as perfect for investors, “with above average rental return, excellent depreciation” and grant benefits from a brand new building.
The complex is only 3.5 km north of the Brisbane CBD and within walking distance to the Royal Woman's and Children's Hospital.  
Like other inner-city areas in Brisbane, the area has attracted a relatively young population. According to the 2011 Census, the median age of the population in the 4030 postcode, which includes Windsor, was 34 years, four below the Queensland median. 
But investors will need to watch out for the high vacancy rate in the postcode, sitting at a relatively high 3.9%, according to <a href="https://sqmresearch.us5.list-manage.com/track/click?u=9badbd870addb4af72206c2eb&amp;id=846d6b3b78&amp;e=0aab96dc54" target="_blank">SQM Research data</a>. 
Reflecting that, <a href="https://sqmresearch.us5.list-manage.com/track/click?u=9badbd870addb4af72206c2eb&amp;id=2a83f13e8d&amp;e=0aab96dc54">asking rents</a> for units in the area have been dropping. This is something interested buyers would need to assess.  Downward pressure on rents may depress property values - and indeed, <a href="https://sqmresearch.us5.list-manage2.com/track/click?u=9badbd870addb4af72206c2eb&amp;id=8702d0425d&amp;e=0aab96dc54">asking prices for units</a> in 4030 have eased back this year.
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jonathanchancellor-7SQnKwU6yx

Brisbane's apartment price dips by $50,000: SQM Research

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<div align="justify">
Sales rates for new apartments within inner Brisbane experienced a slight decline in the June quarter according to the latest residential apartment market report by Urbis.
Paul Riga, associate director at Urbis said this has been on the back of political and regulatory distractions, however the outcome is that supply of new developments coming to the market – the future pipeline of apartment product has started to self-regulate. 
“Primary factors driving the slowing supply of product are increasing construction costs, high development site acquisition costs, a competitive pricing market, and added costs required to give developments a point of difference," he said.
“These factors have culminated with tightening developer finance across the Inner Brisbane residential market. The positive from this slowdown in future supply is that it will allow product under construction to absorb into the rental market without an ongoing flow of high levels of new apartment supply. 
“The vacancy rate was at 0.6 percent in March quarter 2016, with over 2,350 new and near-new apartments being surveyed across the inner Brisbane.
 “This indicates a significantly tighter rental market when compared to the total inner Brisbane rental market, which recorded a 3.3 per cent vacancy rate for houses and units according to the Real Estate Institute of Queensland (REIQ)."
</div>
<div align="justify">Brisbane CBD luxury apartments priced over $1 million have experienced an average capital gain of $207,241 according to Colliers International, with 29 apartments sold in the last 12 months at an average sale price of $1,515,172.  </div>
<div align="justify">
Lily O’Connell, residential project manager at Colliers International said the sales volumes may seem light on, it does indicate that there are not many options in the CBD that suit purchasers with a budget of over $1 million, creating competition in a limited market place.
“As reported by Urbis, there were only four new developments within the CBD over the June quarter, with only two additional projects expected to enter the market in the next six months.
“Due to the demand for quality product within the CBD, Mary Lane’s three bedroom residences are proving very popular, particularly with owner occupiers. 
“These north facing residences are selling for an average of $1.49m and feature 2.7m high ceilings, exclusive on-floor storage and expansive glazing with views to the Story Bridge and Brisbane River. 
“Mary Lane residents can also enjoy hotel services offered by The Westin Brisbane such as in-room dining, maid service, use of hotel spa, bar and restaurants,” said Ms O’Connell.
 
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Inner Brisbane apartment sales slow in June quarter

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Paddington takes the top spot on a new list of Brisbane's 2016/2017 hotspot for investing in units, developed by APM senior economist, Dr Andrew Wilson.
The median unit price at Paddington is $562,500 with an expected increase of 4% over the next 12 months, according to APM's forecast.
An example would be a two bedroom unit at <a href="https://www.realestate.com.au/sold/property-apartment-qld-paddington-121593326" target="_blank">3/43 Fernberg Road</a> (above) that was sold for $595,000 – $32,500 above the median price.
The Smart Investor magazine, published by Fairfax Media, ranked Lutwyche as one of several suburbs in the second rung of best hotspots.
Suburb               Postcode            Median price         12 month forecast
Paddington         4064                  $562,500                           4%
Lutwyche           4030                  $481,000                           3%
Kedron              4031                   $455,000                          3%
Holland Park      4121                   $486,000                          3%
Windsor            4030                   $470,000                          3%
Sherwood          4075                   $450,000                         3%
Bellara              4507                   $285,000                          2%
Wooloowin        4030                   $470,000                          2%
Hawthorne        4171                   $559,500                          2%
Gaythorne        4051                    $441,500                         2%
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Paddington tops list of Brisbane unit hotspots

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Aura Australia has purchased three hectares of land in Brisbane's south-west suburb of Corinda to develop the $130 million Kingsford Terrace retirement living village, due for completion in 2021.
The current Kingsford Terrace retirement village project will be expanded from 34 to 250 architecturally designed, purpose-built one-, two- and three-bedroom independent living units (ILUs).   Blue Sky Private Real Estate will develop the project, which Aura will operate.
Aura is headed by former chief executive officer of Retire Australia, Tim Russell.
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Aura Australia's Brisbane retirement village development expands

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Grange takes the equal top spot as Brisbane's 2016/2017 hotspot for investing in houses with an expected increase of five percent over the next 12 months.
The median price at Grange is currently $820,000, according to APM, in their forecast developed by APM senior economist, Dr Andrew Wilson.
<img src="/images/2016/09/22/97%20Lanham%20Ave.jpg" alt="">
An example would be a five bedroom house currently being sold for over $899,000 at <a href="https://www.realestate.com.au/property-house-qld-grange-123366554" target="_blank">97 Lanham Ave</a>, (above) which is $79,000 above the median price.
<img src="/images/2016/09/23/45%20Sellheim%20Street.jpg" alt="">
Similarly a five bedroom house was sold for $870,000 at <a href="https://www.realestate.com.au/sold/property-house-qld-grange-119240459" target="_blank">45 Sellheim Street</a>, (above) which is $50,000 above the median price.
The Smart Investor magazine, published by Fairfax Media, ranked Manly as equal best hotspot.
Suburb              Postcode            Median price            12 month forecast
Grange              4051                  $820,000                   5%
Manly               4179                   $780,000                   5%
Marburg           4346                    $400,000                   4%
Macgregor        4109                    $760,000                   4%
Bulimba           4171                     $1,100,000                3%
Hawthorne       4171                     $1,050,000                3%
South Brisbane 4101                     $950,000                   3%
New Farm        4005                     $1,295,000                3%
West End         4101                     $990,500                   3%
Tennyson         4105                     $725,999                   3%
 
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Grange tops list of 2017 Brisbane property hotspots

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Perth-based syndicate Kerching Capital has purchased its third IGA-anchored shopping centre in Queensland for nearly $10.4 million as it continues to look east to grow its footprint in the retail investment market.
The property investment group signed the sale contract on Sandstone Village – a neighbourhood shopping centre located in the Brisbane suburb of Sandstone Point. The sale reflects a yield of nearly seven percent.
The Sandstone Village deal follows the nearly $20 million deal for Calliope Shopping Centre in 2015 for Kerching Capital.   
The centre has a net lettable area of 2,289 sqm and is anchored by a Supa IGA, medical practice and other retailers including BWS. 
CBRE’s Nick Willis and Michael Hedger transacted on behalf of Properties and Pathways. 
The decision to sell was in line with Properties and Pathways’ growth strategy, said Willis and highlighted the growing momentum in the interstate market, with more investors opting to search outside their geographic boundaries for opportunities. 
“Liquidity for interstate retail investment transactions is becoming increasingly prevalent as investors search further for suitable opportunities and the market continues to strengthen,” Willis said. 
Properties &amp; Pathways’ Director Cal Doggett said the sale achieved a fantastic result for its investors and also supported the company’s longer-term growth strategy. 
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Perth’s Kerching Capital buys shopping centre in Brisbane for $10.4 million

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A mixed-use apartment project in the Brisbane suburb of Upper Mount Gravatt was launched to the market this month and is being exclusively marketed by Savills Residential Projects.
The $96 million development, Avion Residences (<a href="https://www.avionresidences.com.au" target="_blank">www.avionresidences.com.au</a>), will have twin 15-level towers linked by a sky bridge.
The development’s 174 apartments come as either two- or three-bedroom units priced from $449,000. Apartments range in size from 81sqm to 160sqm.
There are two sub penthouses as well. Shared spaces include a swimming pool, outdoor cinema, private dining room, relaxation zones and a barbecue area.
The retail area will include a shared two-level commercial podium and shops. 
It is the first Brisbane venture for Raykong Property, which gained development approval for Avion Residences in July. 
Project manager Michael Sutherland of PDS Group said the public launch of Avion Residences was timed to meet the growing need for quality residential apartments in Upper Mount Gravatt.
“Avion Residences will play its part in the gentrification of Upper Mount Gravatt which, as a suburb, figures strongly in the Queensland Government’s CBD decentralisation strategy.”
The project is located on Cremin Street, close to Griffith University’s Mount Gravatt and Nathan campuses, the M1 and South East Busway.
“Avion Residences is tapping into the strong demand for apartments in the area,” he said.
Savills Residential Projects state director Peter Neale said the early buyer interest in Avion Residences had surpassed expectations.
“People are drawn to the project’s proximity to amenities, universities and public transport options,” he said, adding that expected buyers would be a mix of owner-occupiers and investors looking for strong growth and yields.
“Because of the location and style of the building, investors are seeing capital growth potential and strong rental yields from young executives living in the area,” he said.
“We anticipate however, that owner occupiers will account for 60 per cent of our apartment buyers because the sheer size of these residences means they don’t have to compromise on space when downsizing.”
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Twin-tower apartment project in Brisbane's Upper Mt Gravatt launched

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The first residents have started moving into Radius Apartments in Brisbane’s Woolloongabba, with the newly completed development also starting to operate as serviced accommodation.
The mixed-use project by Majella Property Developments at 44 O’Keefe Street comprises 91 apartments with a mix of 35 one-bedroom and 56 two-bedroom units. It is also being operated by Oaks Hotels &amp; Resorts as Oaks Woolloongabba.
Majella chief executive officer Sebastian Monsour said the larger size of the apartments and the overall quality appealed to buyers.
“On average, the apartments are larger than those in other new residential developments selling for similar prices within Brisbane city and fringe suburbs. This has proven very popular with potential buyers as they consider it better value for money,” Monsour said.
The one-bedroom apartments range in size from 79 sqm to 98 sqm, while two-bedroom apartments ranging from 99 sqm to 133 sqm. Apartment pricing ranged from $357,000 to $569,000.
Two commercial tenancies have also sold in the commercial space.
Majella Group founder Professor Frank Monsour said, “Brisbane City Council’s Urban Renewal Brisbane program has ensured that Woolloongabba has undergone unprecedented revitalisation.”
The launch of Oaks Woolloongabba was the tenth Brisbane property for Oaks Hotels &amp; Resorts with a room inventory of more than 1,400 rooms.
Radius was constructed by Queensland’s Tomkins Commercial &amp; Industrial Builders.
<img src="/images/2016/09/19/WOLRooftop.jpg" alt="" width="749" height="499">
The complex is built on Woolloongabba’s highest point at 44 O’Keefe Street and offers views of the city.
Designed by Elizabeth Anderson of Hayes Anderson Lynch Architects, Radius Apartments features a rooftop sky deck with city views, a 20-metre swimming pool, gardens and barbecue facilities.
Majella Property Developments will soon be lodging its development application for the proposed redevelopment of the heritage-listed Broadway Hotel site at Woolloongabba featuring 280 apartments and a three-level commercial and retail podium.
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New apartment project in Brisbane's Woolloongabba welcomes first residents

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Brisbane’s new apartment market continues to self-regulate with both demand and supply dropping away in the June quarter, according to new research released today by property consultants, Urbis.
The latest Urbis Brisbane Apartment Essentials found, on the back of Brisbane’s first apartment boom, developers had hit the pause button on some developments slowing the supply of new apartments to the market.
The report also recorded 810 new apartment sales in the June quarter - the third consecutive quarter of decline and the lowest volume since early 2014.
Urbis Associate Director Paul Riga said the decline in the total sales was expected but the launch of fewer projects had resulted in a market where supply and demand were still within reach of each other.
“We are seeing the market continue to self-regulate, returning to a more sustainable level of activity and giving the market time to absorb the current stock available,” Mr Riga said.
“Essentially the sales are still there but they are much harder to achieve for developers.”
The report advised the contraction in the market was felt right across the Inner Brisbane precinct
It forecast sales volumes around the 800 mark were likely in the next two to three quarters.
“Many of the monitored projects have moved into the construction phase, winding down the level of sales and marketing,” he said.
“In addition, we now have a savvier, more discerning level of investor operating in the market”.
Some 25 new projects are expected to launch between July and December 2016, bringing a potential 2,850 new apartments to the market.
“This is around half the level of supply brought to market at the same time last year,” he said.
The Brisbane Apartment Essentials report also found sales prices had also been steadily decreasing since the end of last year – particularly with two-bedroom product.
“The decline in the median sales price has been largely driven by product availability, with a larger proportion of transactions occurring in more affordable Inner Brisbane precincts,” he said.
Mr Riga said there had been an increase in the proportion of sales in Brisbane’s inner-city for one-bedroom apartments with one-carpark, making up 34 percent of total sales.
However he said the staple configuration remained the two-bedroom, two-bathroom apartment, which represented 50 percent of total sales.
Data from the report showed 162 projects were selling off the plan, with approximately 70 percent of these currently under construction or completed.
“We are now moving firmly into the delivery phase of Inner Brisbane’s first major apartment boom, so the focus is increasingly turning towards the rental potential of these apartments,” Mr Riga said.
“It will be a competitive market and we are progressively going to see a ‘flight to quality’ – with tenants looking for projects that offer value, connectivity, lifestyle amenity and a point of difference.”
The Brisbane Apartment Essentials Report found:
 810 sales were recorded in the June quarter - the lowest volume since early 2014.
 The weighted average sales price for the June quarter was $578,580. This was a decrease of $17,084 since the March quarter. The weighted average sales price has been steadily decreasing since the December 2015 quarter.
 Higher proportion of two-bedroom apartments selling at a lower price point and higher levels of one-bedroom stock selling.
 One-bedroom, one-car product made up 34 percent of sales compared to 27 percent in March 2016 quarter.
 Reduced apartment launches (and subsequent sales) in the quarter.
 There were 32 percent fewer apartments launched to the market compared to the previous quarter.
 Low and mid-rise projects registered 45 percent of total sales in the June 2016 quarter, compared to only 17 percent of sales in the March quarter 2016.
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