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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The former Wallabies and Brumbies captain Ben Mowan has listed his Holland Park investment property in Brisbane's southeast.
Mowan paid $667,000 in 2008 for the 1930s property which <a href="https://www.realestate.com.au/property-house-qld-holland+park-122605326" target="_blank">goes to auction June 4</a> through Space Property agent Adam Nobel.
The flanker played in Brisbane for most of his career but headed to France to play for Montpellier in 2014.
The renovated three bedroom, three bathroom contemporary home has two home office spaces and an extensive covered patio beside the fully fenced terrace garden.
Mowan rented the home listing it for $650 a week in 2013.
He said that the home is a "cracking property".
“It really is a great home for a family or people who love spreading out their living over two levels,” Mowen told the local paper.
“Our favourite space is definitely the open kitchen and servery window onto the large deck.
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Ben Mowen lists Holland Park investment

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Generation Y are driving demand for apartments in Brisbane's middle-ring suburb of Upper Mount Gravatt for both rentals and purchase.
According to research from Urbis, the suburbs links to education, employment hubs and public transport is creating the appeal.
Urbis associate director Paul Riga said off-the-plan apartment activity in Upper Mount Gravatt had increased notably over the past 12 to 24 months due to proximity to key employment nodes, a comprehensive education offer and an abundance of established infrastructure and lifestyle.
“The Upper Mount Gravatt catchment is likely to see continued growth in the investor market spurred by the high proportion of young people residing in the area," he said.
"Generation Y was attracted to the area’s proximity to Westfield Garden City, Sunnybank, Griffith University’s Nathan and Mt Gravatt campuses, the M1, and the South East Busway.
“This youth demographic will contribute to rental demand in Upper Mount Gravatt and its surrounding catchment, with the downsizer market also potentially a contributor."
The $96 million Avion Residences, the soon-to-be launched debut project of Brisbane’s Raying Property will comprise 174 two and three-bedroom apartments across two 15-level towers in Cremin Street, which is just 200m from nearby Westfield Garden City.
 
 
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jonathanchancellor-7SQnKwU6yx

Gen Y demand sparks Brisbane's apartment surge

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Listed developer Villa World has unveiled a collection of business residences within the Fitzgibbon Chase community in Brisbane’s north side as a response to more people working out of homes.
Economic Development Queensland (EDQ) has engaged Villa World to deliver 12 unique terrace-style homes which fuse residential and commercial uses, and they will be called <a href="https://www.villaworldliving.com.au/thenest/" target="_blank">The Nest</a>. 
The homes have ground floor professional suites with a street presence, and a one or two-bedroom residence on the upper level. 
Homes range in size from 90sqm to 139sqm and will be priced under $400,000.
The homes will rise on the corner of Carselgrove Avenue and Dorrigo place on the doorstep of the 1300-home Fitzgibbon Chase community. 
Villa World general manager - Communities and Business Growth, Carl Bruhn said The Nest was a response to the shift in the way people used their homes. 
“Increasingly, professionals are working from home or in smaller teams and this style of home gives them a commercial street presence for their business as well as a private residence,” he said. 
“The idea is to create distinct and separated zones for living and working, but under the same roof."
The project is close to schools, public transport and shopping centres. 
The Nest falls within the Fitzgibbon Priority Development Area which covers 295 hectares of land in the northern suburbs of Fitzgibbon, Carseldine, Bald Hills, Taigum and Deagon. 
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prateek24-ezbwHMbNAk

A Nest both for work and to call a home in Brisbane's north

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The trophy Brisbane home at 10 Morgan Street, Ascot is on the market for the first time.
Built on the side of a hill in Ascot, it is a <a href="https://www.realestate.com.au/property-house-qld-ascot-122627518" target="_blank">quintessential Queensland home</a> with privacy and views over Brisbane river and the city.
The current vendors have a professional background in commercial building and property development in the hotel space.
Architect James Forbes was commissioned. 
It is listed through Ray White New Farm agent Matt Lancashire.
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Brisbane Ascot trophy home listed for first time

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Claims that thousands of Brisbane apartments are at risk of not settling over the next 24 months due to tighter lending conditions and the large number of units involved are being rejected by researchers, according to Lachlan Walker, director of Place Advisory and Place Projects. 
The claim did not give consider decisions by the major banks to pull out of development funding throughout inner Brisbane, says Diana Howes, director of Resolution Research, according to his recent writeup in www.therealestateconversation.com.au.
Furthermore, claims that banks are no longer lending to overseas buyers as a blanket statement are also generalised claims, with banks willing to lend, however at a higher 60 per cent LVR.
Howes does not anticipate settlement valuations falling short of the contract prices for off-the-plan units.
“We reject the notion that the market is currently on the cusp of a major valuation risk phase – with developers still reporting valuations at, or close to contract values,” she said.
“With negligible price growth across the off-the-plan market over recent years, apartments currently under-construction should, in theory, be valued in line with their recently completed counterparts.
“Although we have seen an estimated 15 per cent rise in construction costs over the past three months, which has translated into lifts in off-the-plan values, many of these apartments are yet to even start construction and given the pull back in development finance, a large proportion are unlikely to. This further strengthens our argument that thousands of apartments within inner Brisbane are NOT at valuation risk.”
Howes said investor sentiment in the Brisbane market remained solid and there was no evidence of a trend towards speculative investment; in fact quite the contrary.
Resolution Research's research examined the mind and mood of the investor market and revealed the following key opinions and attitudes:
* Buyers have an average hold strategy of 5 years
* Buyers are risk averse and shop the market to ensure they are securing a solid value proposition
* Speculative (short-term) investments are felt to be more likely to have upside in the share market as opposed to the property market
An analysis of resales across six major high density developments over an 18-year period (1997 through to 2015) in Fortitude Valley and Brisbane’s CBD reveals an average annual rate of capital appreciation of 6% across the market. This is a healthy rate of appreciation and clearly highlights a long-term hold strategy for inner Brisbane apartment developments yields high returns, it says. 
Importantly, although resales do fluctuate over both the medium (five-year) and long terms, average annual median price growth has been recorded. It is equally important to note that across these timeframes owners of these apartments have been through the GFC and two periods of speculation of market oversupply (in 2003 and again in 2007).
In essence, a conservative approach to purchasing in inner Brisbane, on average, results in an appreciation in values. This study shows that ownership spanning across the GFC and speculative times of oversupply in 2003 and again in 2007 have failed to have a negative impact on market values over a longer term hold period.
The claim by CoreLogic RP Data  that 81,696 apartments would be delivered into Brisbane’s market over the next two years was unfounded. This figure assumes that 100 per cent of all stock will be funded which is not the case in an environment where three of the big four banks state that they are no longer funding apartment developments within inner Brisbane.
"Brisbane’s apartment market is heavily influenced by lending conditions and we expect to see the future supply environment contract considerably," it said.
Inner Brisbane’s current pipeline of new apartments was 20,456 including those yet to be approved.
If we use inner Brisbane as the benchmark, which is where the overwhelming majority of stock is to be developed, we currently have 3,886 apartments which are now deferred.
 
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jchancellor-FAypfDUnLy

Brisbane's apartment settlement fears not credible: Lachlan Walker

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Developers in South East Queensland faced with the double whammy of increased construction costs and a challenging lending market are shifting their focus to lower risk projects, says construction finance group HoldenCAPITAL.
The stricter lending regime from the big banks and increased costs is forcing many developers to go for boutique apartment projects and townhouses in the middle ring suburbs of the Brisbane CBD as high rise inner-city apartment projects come under increasing cost pressures, according to HoldenCAPITAL director Daniel Holden.
“Developers are finding construction costs have risen significantly for some projects during the planning stages and this has had a severe impact of forecast profit margins," he said.
“HoldenCAPITAL has had a surge of inquiry from developers seeking funding for that type of product,” he added in reference to boutique apartment and townhouse developments.
Leading Queensland quantity surveying and construction experts firm Mitchell Brandtman partner, Darryl Bird, said construction costs rose about five per cent over the past year with a similar trend expected through the remainder of 2016. 
“Construction cost increases of this scale, combined with a distinct shift in the development product mix and amenity, have seen the cost per unit rates for inner city apartments soar,” Bird said.
“In a market where there is little sign of sales price growth, these changes are significantly impacting project feasibilities. However, we are continuing to see new projects that still stack up from both a market and a finance risk perspective."
Brisbane-based HoldenCAPITAL, which specialises in deal structuring and the sourcing of debt and equity solutions, was named best commercial broker in Australia at the 2016 Better Business Awards. 
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Brisbane developers choosing boutique apartments, townhouses over risky inner-city units: HoldenCAPITAL 

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Pizza maker Don Meij has upsized Brisbane homes. 
Following the $3.125 million sale in Clayfield, the Domino's Pizza head secured the former matrimonial home of the Fone Zone co-founders David McMahon and Maxine Horne in Ascot. 
Meij paid $8.615 million for the <a href="https://www.raywhite.com/qld/ascot/1425508/?lang=en" target="_blank">Hamptons-inspired home</a> (above). 
McMahon and Horne, who had paid $7.25 million in 2009, have also recently sold their Mermaid Beach weekender to former Hockeyroo Louise Dobson for $4.75 million.
Set on a sprawling 2024 sqm, the grand-scale Ascot entertainer features resort-style gardens with an infinity edge pool, pool house with bbq kitchen and expansive north-east verandahs.
The homes six bedrooms are all designed as private retreats, each with their own marble ensuites.
Architecturally designed, the property also has a billiard room with wet bar and cellar plus an executive home office.
Meij has been in the pizza industry since 1987, starting out as a lowly delivery driver for Silvio’s Dial-a-Pizza in Brisbane’s north east suburb, Redcliffe.
In May 2005, Meij led Domino’s to become Australia’s first publicly-listed pizza chain on the Australian Stock Exchange.
Leigh Kortilang of Ray White Ascot sold the 1,619 square metre Clayfield property to buyers from Greenslopes.
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Domino's Pizza head upsizes home

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Inner Brisbane projects a picture of surging demand for off–the–plan apartments since 2013, creating record supply in future, while units rented out occupy a major share of all apartments in the area, according to the latest findings from research firm BIS Shrapnel.
Demand for Inner City apartments from investors shows little signs of abating in the short term despite its impact on rents, with completions to peak in 2016/17 at more than 7,000 apartments. Also, Brisbane's relative affordability compared with Sydney or Melbourne means more investors will choose Inner Brisbane apartments (IBA), says the paper titled Inner Brisbane Apartments Market Brief 2016.
The research focuses on indicators relating to demand, supply, rents and prices.
The major locations in Inner Brisbane to see developments on a large scale are CBD/Spring Hill, Inner East, Inner North, West End, Toowong, Woolloongabba and Hamilton.
APARTMENT PROFILE
Rental apartments account for 58 percent of total apartments in the IBA area, considerably higher than the 29 percent share for all dwellings across Greater Brisbane. This highlights the preference of investors to purchase properties close to good transport links and major commercial, retail and entertainment centres, where tenant demand is likely to be greatest.
Owner occupied dwellings represent 31 percent of IBA area stock, with a slightly greater share of these having a mortgage (being purchased). Conversely, a significantly higher 63 percent of Greater Brisbane dwellings are owner occupied.
Unoccupied dwellings—those that are held as second homes or kept empty as a speculative investment— comprise 11 percent of total apartment stock in the IBA area, compared to 8 percent across Greater Brisbane. It is expected that this level will increase from 2014/15, given the level of overseas demand and the potential that many may be held and not released to the rental market.
<a href="/images/2016/05/23/Screen%20Shot%202016-05-24%20at%209.23.52%20AM.png" target="_blank">Click to enlarge</a>
<img src="/images/2016/05/23/Screen%20Shot%202016-05-24%20at%209.23.52%20AM.png" alt="">
DEMAND PROFILE
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The age profile of apartment residents suggests that people first rent when moving into the IBA area, with 47 percent of occupants in rental households aged 20 to 29 years old. If people remain in, or move into, the IBA area beyond 30 years of age, there is a higher propensity to purchase an apartment.
Households with a mortgage are mostly younger, with 50 percent of people occupying an apartment being purchased aged 30 to 54 years old. Within fully owned apartments in the IBA area, the demographic is older, with 59 percent of occupants in these apartments aged 55 years old and over. 
<a href="/images/2016/05/23/Screen%20Shot%202016-05-24%20at%209.26.16%20AM.png" target="_blank">Click to enlarge</a>
<img src="/images/2016/05/23/Screen%20Shot%202016-05-24%20at%209.26.16%20AM.png" alt="">
Demand Drivers
An analysis of the age profile of apartment residents suggests three main groups driving occupier demand: students, younger adults, and older empty nester adults.
Students account for 17 percent of the IBA population, with 56 percent being overseas students. Overseas students create instant demand for accommodation, opting to reside close to their place of study. After a post-GFC decline, overseas student enrolments have been in recovery mode since 2014, driven by a lower Australian dollar. The improvement has occurred across all education sectors. 
The young adult apartment population is typified by those in white collar employment. Inner Brisbane employment growth has been weak in recent years due to State Government cost cutting and a reduction in mining services jobs. There is evidence that the decline may have bottomed out, although the recovery is likely to be slow (Chart 4).
Empty nesters are classified as those aged 45 years old and over, being either singles or couples without children. Empty nesters comprised 28 percent of the non-student adult population in the IBA area at the 2011 Census. 
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<img src="/images/2016/05/23/Screen%20Shot%202016-05-24%20at%209.30.13%20AM.png" alt=""> 
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INVESTMENT
Rental Vacancy Rates
Vacancy rates in Inner Brisbane remained below the balanced market rate of 3 percent from June 2004 through to June 2013, except at June 2009, when a rapid reduction in standard variable rates and the introduction of boosted incentives to first home buyers during 2008/09 encouraged existing and potential tenants to become owner occupiers.
Unlike Middle and Outer Brisbane, vacancy rates in Inner Brisbane have increased since 2013/14, reaching 3.8 percent at December 2015. While some of this rise may reflect the rate of new stock coming to the market and the time required to fill the stock, the steady rise in vacancy rates through 2014 nevertheless suggests that an excess of rental stock is emerging within Inner Brisbane. 
<a href="/images/2016/05/23/Screen%20Shot%202016-05-24%20at%209.32.16%20AM.png" target="_blank">Click to enlarge</a>
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Table 1 (main picture) outlines the weighted median two bedroom (the most common type of unit) rent and weighted median unit price of the IBA area post codes, along with an indicative yield representing the rent divided by the price.
Unit rental yields increased to a peak of 5.52 percent at June 2012, and remained at a similar high level over the following year. Combined with the low interest rate environment, investor demand strengthened and drove solid unit price growth of 5.9 percent in 2013/14.
Relatively low borrowing costs also reduced cash outflows for investors and diminished the necessity for landlords to increase asking rents, particularly with low borrowing costs making it easier for tenants to shift to owner occupation. As a result, rental growth remained below 1 percent per annum since 2012/13. Unit yields eased to a low of 5.08 percent at June 2015.
Rising vacancy rates will limit rental growth in 2015/16 to an estimated 0.1%. Moreover, preliminary data suggests unit prices may have declined, as the record level of apartment completions in 2015/16 creates increased competition and has a negative impact on resale prices. With a decline expected in prices of 2 percent in 2015/16, the indicative yield for a two bedroom apartment in the IBA area will improve slightly to 5.19 percent at June 2016. 
SUPPLY PIPELINE
Off–the–plan apartment demand within the IBA area has escalated from 2013, attributed to attractive yields, low or volatile returns for other investments and low interest rates. The rise in off–the–plan sales has allowed a greater number of projects to reach sufficient pre-commitment levels to obtain finance and begin construction. As a result, the IBA Area experienced a sharp increase in apartment completions in 2014/15 to 2,920 apartments. The period between peak demand and the subsequent lag of pipeline supply reaching the market has apartment completions set to soar to record levels over the next few years. In 2015/16, we estimate that approximately 3,250 apartments will be completed, surpassing the record high set just the year before.
In the short term, demand for Inner City apartments from investors shows little signs of abating despite the potential impact on rents and prices of further sizeable new additions to the rental stock across Inner Brisbane. Based on the current pipeline, completions are on track to peak in 2016/17 at over 7,000 apartments, of which investor owners will continue to form the bulk of underlying demand. Relatively less expensive apartment prices, and more attractive rental yields compared to their respective home markets, is likely to sustain demand for IBA stock from investors in Sydney and to a lesser extent, Melbourne. Similarly, this should also see overseas investors increasingly favour Inner Brisbane apartments over Sydney or Melbourne with demand from other countries also underpinned by a preference to invest in more transparent and stable political environment. 
Consequently, IBA Area completions are on track to escalate above the record levels in 2015/16, increasing to a peak of 7,182 apartments in 2016/17, 6,468 apartments in 2017/18 and 5,497 apartments in 2018/19. The West End and Inner North precinct will be the mainsource of new apartments in the IBA area over the three years to 2018 accounting for 60 percent of all new supply. Apartment completions as a proportion of total IBA area is expects to be next greatest in CBD/Spring Hill (13 percent) and Toowong (10 percent).
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Inner Brisbane apartments a huge draw with investors in spite of record supply: BIS Shrapnel 

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A new 15-level residential tower overlooking the heritage-listed Gasometer will come up in Brisbane's Newstead.
Gasworks Residences by Tom Dooley Developments will comprise 182 apartments over 14 storeys. Construction is expected to later this year, said a media release.
Some are two-bedroom apartments, but nearly half boast a multi-purpose room that could be used as a media room, office or third bedroom. Priced range from $525,000 to $1.15 million.
Designed by Shane Plazibat Architects, all of the apartments will have balconies between 16 sqm and 34 sqm, floor-to-ceiling glass and stone benchtops.
The rooftop area on the fifteenth floor features a 25-metre infinity pool, yoga terrace, gym, private sunken courtyards and an outdoor kitchen.
The ground floor will have 1,500 sqm of retail space. 
TDD managing director Tom Dooley said the suburb had strong appeal, particularly for local buyers looking to buy into the urban village lifestyle.
“Gasworks is really the epicentre of urban renewal in Brisbane, which is why we are building our second major development there," he said.
“Our first Gasworks development – Skyring – sold out in weeks. There’s plenty of interest in good quality, well sized apartments, particularly when they’re close to Brisbane’s best food, shopping and nightlife.”
Skyring is currently under construction in Newstead.
Dooley said initial sales were strong, driven by young professionals and downsizers in search of the urban village lifestyle.
More than 70 percent of Newstead households are couples without children or singles, with more than half aged between 25 and 44, said the media release.
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15-level apartment tower set to come up in Brisbane's Newstead 

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Nundah Central, located on Sandgate Road in Brisbane’s inner north, has sold for $4,425,000 in an off-market transaction to a Western Australian investor. 
The site has an area of 1,639 sqm with an office and retail net lettable area of 554 sqm and 491 sqm, respectively.
The tenant profile of Nundah Central includes a strong history of occupancy with several tenants being long-term occupiers of the building; the tenant mix includes Max Employment Solutions, KC Pysch, Worth Real Estate, Jam Café, Siam Sensations, The White Bungalow and Lotus Wellbeing.
The sale reflected a yield of 7.27% and a strong result for the vendor, a locally based private syndicate.   JLL’s Sam Byrne and Christian Sandstrom were behind the deal.
“Competition for quality commercial assets in southern markets, particularly Sydney and Melbourne, is exceptionally strong at the moment, resulting in an increased interest in Brisbane from investors” said Sam Byrne.    
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