The residential transformation of St Kilda Road is set to continue into with more new apartment plans for the sought-after boulevard.

Wing Tai Asia has lodged plans for a major residential tower at 464-466 St Kilda Road, replacing the former VACC House with an 18-storey mixed-use development designed around a retained heritage podium and a sculpted contemporary tower.

The proposal, prepared under Victoria’s Significant Residential Development with Affordable Housing pathway, would deliver 325 apartments and ground-floor retail across the prominent 4,653 sqm boulevard site in Melbourne’s St Kilda Road North Precinct.

The project centres on the adaptive reuse of the site’s heritage-listed VACC Building, an eight-storey office designed by Bernard Evans that has occupied the address for decades. Planning documents state the development would involve “carefully dismantling and conserving off-site the original metal fabric of the podium visible from St Kilda Road,” before reinstating it as the defining frontage of the new scheme.

Above the restored podium, Wing Tai is proposing a curvilinear residential tower. The scheme includes 172 one-bedroom apartments, 63 two-bedroom apartments, 66 three-bedroom apartments, and 24 four-bedroom apartments, alongside two ground-floor food and beverage tenancies fronting St Kilda Road.

The tower has been designed with substantial articulation and variable setbacks to minimise perceived bulk and maintain view corridors along the boulevard. Urbis, which prepared the planning report, said the design “has been significantly articulated through a curvilinear design” with “an interplay with materials, façade expression and depth” to create visual separation and visual interest.

The proposal also includes 254 basement car spaces, landscaped pedestrian links connecting St Kilda Road and Queens Lane, and a biophilic landscape strategy featuring canopy trees, raised planters, cascading greenery and a glass oculus pool overlooking the eastern frontage.

Planning documents confirm the $270.1 million development will contribute 3 per cent of project costs to the Social Housing Growth Fund as part of the application process.

Wing Tai acquired the St Kilda Road property in 2018 alongside Abacus Property Group for $95.38 million, before later consolidating ownership of the site. The property previously served as the Victorian Automobile Chamber of Commerce headquarters for around 60 years.

The transformation of the St Kilda Rd boulevard is already beginning to materialise, with a number of high-profile projects recently completed, launched, or approaching launch as developers continue to back the long-term appeal of the precinct.

Among the most notable recent completions is Louise by Samuel Property Group, just off the strip on Queens Lane, the same pocket Hirsch &amp; Faigen recently launched The Queensbury. Mirvac is too on the same street with The Albertine, which is approaching completion.

Dexus recently secured approval for its slice of St Kilda Road, while Gurner also has approved plans for the precinct.

Joel Robinson

Wing Tai unveils 325-apartment St Kilda Road tower on former VACC House site

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>

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

Brisbane

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Spring Cottage, an 1870s Brisbane brick and sandstone cottage held by the same family for four generations, has been listed for sale.
It is one of the oldest houses in Brisbane, but renowned for its gardens given its ranks as one of the 10 oldest in Brisbane.
It is believed that the gardens have remained relatively untouched since they were first laid in the early 1900s.
“The only major work that is know of was in 2010 when the tenant, a qualified horticulturalist, helped to restore the garden’s original design,” said Damon Warat from Ray White Ascot.  
Spring Cottage, located at <a href="https://www.raywhite.com/qld/hamilton/1152364/" target="_blank" style="line-height: 1.3em;">40 Crescent Road, Hamilton</a>, is listed on the Brisbane City Council heritage register.
“The neighbouring property sold for $1.025 million in 2012 and we anticipate Spring Cottage will sell north of this figure,” Damon said.
Spring Cottage is for sale via an expressions of interest campaign closing on 22 July.
It is the first time the property has been offered for sale in 140 years.
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jchancellor-FAypfDUnLy

Hamilton's Spring Cottage, the quaint historic Brisbane garden offering

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The inner Brisbane apartment market is gearing up for a record sales boom in the second half of 2014, with pre-sale stock levels moving toward the market, Urbis have recently announced.
Their Brisbane Apartment Insights report noted that strong demand over the last quarter of 2013 has reduced stock levels for 2014, with demand pushing into this year.
Senior consultant for Urbis, Paul Riga, said that they’d recorded at least six development projects selling out ahead of schedule, resulting in minimal product on the market at the beginning of the year. “Developers are desperately trying to get their projects finalised, with about 40 to 45 new apartment projects expected to be ready for sale in the second half of 2014,” Riga said.
“This equates to 5500 apartments, which is a substantial amount for the market to absorb.” 
“This is an exciting time for Brisbane as it undergoes a major change, and there’s a great opportunity for many to get into the market,” Riga said.
The first quarter of this year saw a surge in inner Brisbane for luxury new apartments, Colliers International’s research has recorded.
Of the 591 new apartment sales, across 47 projects, more than 25% were luxury offerings.
Director of residential for Colliers, Andrew Roubicek, said that apartments in the $750,000 plus price bracket saw the greatest sales volumes growth compared to the same time in 2013. In February, they had noted that <a href="/news/qld/brisbane-apartment-market-on-the-rise-colliers">the market for apartments in Brisbane was on the rise</a>.
Apartments priced at $900,000 plus totaled 17% of sales.
The price breakdown can be seen below:
<img src="data:image/png;base64,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" alt="">
Source: Colliers International
They noted that the Abian development sold the most apartments in the first quarter, with 108 residences sold valued at $144 million, including the sale of two sky homes priced up to $5 million.
“On top of the robust demand from owner occupiers, the investment market remains a key driver of apartment sales activity in inner Brisbane,” he said.
“Due to the strong sales performance of premium stock the weighted average sale price for a new apartment in inner Brisbane has increased to $715,000, 25% above the five year average.”
Meanwhile, senior research analyst for Colliers, Alex Beer, said that 5,400 apartments have been approved in the 12 months to the end of March, the most experienced in a decade.
Of these, 1,198 were granted approval in the first quarter of 2014.
“About 3,200 apartments are expected to be released for sale this year as apartment living in the city increases, particularly in South Brisbane, Newstead, Hamilton and Albion,” said Beer.
“The volume of projects reaching completion may place upward pressure on residential vacancy.”
The off the plan Brisbane market, according to BIS Shrapnel, is <a href="/news/qld/investor-warning-brisbane-apartment-prices-expected-to-soften-in-2015-2016">expected to soften in 2016</a>.
Subdued rent and prices are then expected to be seen by 2016, as a historic peak is seen in the inner Brisbane apartment market, with the potential to ease supply strains.
Senior project manager and report author for BIS Shrapnel, Angie Zigomanis, said that the inner Brisbane apartments are increasingly attractive with yields in many of these projects around the 5% mark and above.
“However, with many expecting that the Brisbane market has now bottomed out and the risk of further price declines is dissipating, the impetus to enter the market has increased,” said Zigomanis.
The South Brisbane new development <a href="https://www.spiceapartments.com.au/contact%20" target="_blank">Spice Apartments in Brisbane</a> are set for a launch in nine days. It includes one-bedroom apartments from $425,000, two-bedroom from $495,000 and three-bedroom from $685,000.
An $85 million mixed-use residential tower, <a href="/expert-insights/buying/brisbane-s-trafalgar-lane-brings-melbourne-inspired-laneway-feel">Trafalgar Lane, at Woolloongabba</a>, was also launched last month.
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jduke-EHk3XBmHkn

Brisbane apartment market to boom in second half of 2014: Urbis

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A freestanding IGA supermarket has secured a seven figure sum after it was purchased by a Chinese investor.
The buyer put their faith in the numbers, paying $3,398,888 for the Boondall supermarket. The number eight is associated with prosperity in Chinese culture. The transaction reflected a yield of 8.1%.
Set on a 3,434 square metre site at 2138 Sandgate Road, the 790 square metre supermarket was developed by Hardev Property two years ago. It was sold by in an off-market transaction by Michael Harcourt and Jon Tyson of Savills Retail Sales.
Luck aside, Harcourt said the high profile main road location was a key factor for the buyer.
“IGA Boondall is underpinned by a 10-year lease with a further three five-year options and also features convenient on grade parking for approximately 51 vehicles,” said Harcourt.
According to Tyson, the property combined a number of highly sought after characteristics in the convenience retail market.
“It boasts a prominent left-hand location to capture outbound traffic out of Brisbane and a core non-discretionary offering of grocery and fresh food items,” said Tyson.
“Having opened its doors just two years ago, the Boondall IGA Supermarket is now well established and supported in the local community. As Savills originally secured IGA as the tenant, it is rewarding to have now closed the loop on the property with a strong sales result for both vendor and buyer,” he said.
 
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jrichardson-uRX5hFdKfN

Chinese investor pays lucky sum for Brisbane IGA

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Four consortia have been shortlisted to develop a six-star multi-billion dollar integrated resort development at Queen’s Wharf Brisbane.
<ul>
<li>Crown Resorts Ltd</li>
<li>Echo Entertainment Group Ltd</li>
<li>Far East Consortium/ Chow Tai Fook Enterprises Ltd</li>
<li>Greenland Investment Pty Ltd.</li>
</ul>
In October last year the Queensland government decided a gaming licence would be available for the under-utilised nine hectare government-owned site adjacent to the north bank of the Brisbane River.
The shortlisted companies will be required to lodge fully-developed proposals with the government in late 2014.
A formal announcement regarding the successful developer and their development scheme is not expected until early 2015.
{qtube vid:=V_Eiiyy8ec4#t=56}
Crown Resorts Ltd
One of Australia’s leading integrated resort and casino operators with international joint-ventures and associated gaming and hospitality interests.
Extensive domestic experience developing, owning and operating integrated resort development (IRD) casinos including:
<ul>
<li>$3.7 billion Crown Melbourne, Southbank urban redevelopment</li>
<li>$850 million Crown Perth refurbishment</li>
<li>$2 billion (planned) Crown Sydney.</li>
</ul>
Echo Entertainment Group Ltd
One of Australia’s leading integrated resort and casino operator with substantial presence in domestic market.
Domestic IRD casinos include:
<ul>
<li>$870 million Star Sydney upgrade (2008-2012)</li>
<li>Treasury Casino and Hotel Brisbane</li>
<li>Jupiters Casinos and Hotels in Townsville and the Gold Coast (planned $345 million refurbishment).</li>
</ul>
Far East Consortium/ Chow Tai Fook Enterprises Ltd
International hospitality and mixed-use property developer/operator with some domestic development experience in Melbourne and Perth.
Notable large scale developments include:
<ul>
<li>$3.3 billion Trump Place, New York City</li>
<li>$1.2 billion Hong Kong Convention and Exhibition Centre</li>
<li>$1.2 billion 250 Spencer St, Melbourne integrated residential, retail, hotel and public realm development.</li>
</ul>
Greenland Investment Pty Ltd 
Fortune 500 Chinese state-owned international large scale mixed-use property developer.
Notable projects include:
<ul>
<li>400 hectare Greenland Nanchang activity centre urban redevelopment</li>
<li>$1 billion 82 hectare Zhengzhou Greenland Central Plaza activity centre and transport hub</li>
<li>$680 million Greenland Centre Sydney residential tower.</li>
</ul>
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Crown versus Echo again, with Greenland and Far East also seeking Brisbane Queen's Wharf project

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A cold storage freestanding warehouse facility in Brisbane's south-east has been sold by Ray White Commercial, bringing in $1.35 million.
The Tingalpa property, at 67 Proprietary Street, sold as vacant possession to processed food distributors PFD Foods.
The deal was negotiated by Ray White Trade Coast's Jared Doyle who said that solid interest had been seen in the facility, with a number of offers before the accepted $1.35 million.
On approximately 2,126 square metres, of which the warehouse covers 960 square metres, the facility will be an addition to PFD Food's existing premises in Lytton. “PFD Foods was looking for another food preparation facility and offices to accommodate its growing business catering for a new contract with Costco,” said Doyle. “This facility has approximately 312 square metres of mezzanine office level.  There’s approximately 521 sqaure metres of food preparation and cold storage areas and a goods receiving ability from the hardstand area.”
It caters for parking of 12 cars, and is fully fenced. Doyle noted that another bonus is the location of the property to the Gateway Motorway, Brisbane Airport and the Port of Brisbane.
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Brisbane cold storage warehouse brings in $1.35 million

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GUEST OBSERVATION
Supply and demand for Brisbane apartments are on the up. Property investors would do well to consider both the short-term and long-term supply and demand outlook for apartments.
For a few years after the GFC, Brisbane did have an oversupply of property in general. It's one reason why Propertyology elected to do very little investing in Brisbane for some time. Tighter credit policies post-GFC then made it very difficult for developers to acquire project funding which enabled Brisbane's surplus of property stock to be soaked up.
During the middle of last year, Propertyology observed an increase in buyer activity and Brisbane's market recovery got under way. While we don’t believe that Brisbane is the number one location to invest in right now we do like the city's outlook and are investing there again.
Over the last year, several new, multi-storey apartment complexes have settled around Brisbane; inner-city vacancy rates have increased to a more normal level of around 3% as a result.
Yes, there is a significant level of new inner-city apartments in Brisbane's pipeline. In our view, suburbs such as <a href="/news">South Brisbane</a>, <a href="/news">West End</a>, <a href="/news">Fortitude Valley</a>, and <a href="/news">Bowen Hills</a> should be avoided by investors. ‘Property consultants' with vested interests will undoubtedly tell you differently.
Generally speaking, there is a growing trend for increased demand for apartment living across most capital cities and in some regional locations. Over the two year period to March 2014, 43% of new residential dwelling approvals in Australia were for attached dwellings. Yes, almost half. This compares to 30% of total approvals for the two years ending March 2007. Quite an increase!
<img src="/images/2014/05/23/pressley%20may%2023%20one.png" alt="">
New South Wales (refer Sydney) had an even bigger percentage of attached dwelling approvals over the last two years -56% - while the ACT (Canberra) and Northern Territory (Darwin) are even higher at a whopping 63% and 60%, respectively. Victoria (refer Melbourne Docklands) and Brisbane also have high percentages of apartment approvals, 45% and 43% respectively.
The millions of Baby Boomer Australians seeking to exit the workforce over the next decade simply don't have anywhere near enough money squirreled away to retain their current digs and have a healthy income stream. More and more Baby Boomers will be attracted to selling the suburban house, downsizing in to apartment living, and releasing a few hundred thousand dollars to supplement their income.
Market analyst, Michael Matusik, recently said: "Brisbane City has an aging demographic profile.  Increasingly, much of the housing market across the Brisbane City area will be looking to downsize and/or retire.  This will fuel the need for more attached homes; often smaller in size than traditional detached housing.  The catch-cry is “place for space”, meaning that buyers will be looking to live in quality projects, in established urban areas. The Brisbane downsize/retirement market will experience its greatest growth over the next ten years.  Interestingly, the first home buyer segment and even the upgrader market is unlikely to grow as much in size as those downsizing, suggesting that resale supply of baby boomer-first generation homes may exceed demand (first time buyers and those upgrading)."
There are plenty of people who don't want to spend their weekends maintaining gardens. Many Gen Y, for example, see a lot of merit in apartment living. There is a growing number of Gen Y’s who either can't afford the mortgage payments on a suburban house and / or prefer the conveniences of inner-city lifestyles.
While there will be an increase in apartment supply in Brisbane, there will also be increased demand.
Simon Pressley is managing director of <a href="https://www.propertyology.com.au/" target="_blank">Propertyology</a>, a full-time property market analyst, accredited property investment adviser, and REIA / REIQ Buyer’s Agent of the Year (2012,2013,2014).
Photo courtesy of Andrew Sutherland/Flickr/<a href="https://creativecommons.org/licenses/by-sa/2.0/" target="_blank">Creative Commons</a>.
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spressley-sBoeMhannA

Brisbane apartment market to see increase in both supply and demand

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Mossvale on Manly, an award-winning East Brisbane masterplanned development from Mirvac, has sold out with almost 500 homes developed.
However, the development was launched in 2003 and has taken more than 10 years to completely sell out, with almost $24 million in sales over 2013 and releases staggered over the past decade.
<a href="https://www.mossvale.mirvac.com/vision" target="_blank">Mossvale on Manly</a> is located in Wakerley, 14 kilometres from Brisbane’s CBD, and is bordered by Manly Road and Tilley Road. 
The median house price for Queensland's <a href="/news">Wakerley</a> is $664,000, with median asking rent sitting at $540 per week.
The 64 hectare site includes more than 10 hectares of green open space and 4.3 hectares of waterway corridor in its centre.
<img src="/images/2014/05/26/mossvale-may-26-one.jpg" alt="">
The past 12 months in particular have seen strong sales, explained Mirvac Queensland masterplanned communities development director Russell Berlee.
"As the community neared the finish line, we only had a limited number of properties left to sell with the majority of the homes released in the past year selling prior to construction being completed," said Berlee.
"There was sustained interest right up to the very last sale and, in many cases, we had a number of purchasers wanting the same property, with a wait list in case the sale fell through."
A wide demographic of buyers had been attracted, however those with interest were predominantly young families, downsizers and professional executives. Those living in surrounding suburbs, including <a href="/news">Carindale</a>, <a href="/news">Manly West</a> and <a href="/news">Wynnum</a>, dominated sales as they looked to upgrade into their second or third homes.
Properties were being offered from $650,000. In <a href="/news/mirvacs-mossvale-on-manly-community-a-near-sell-out">December, the only properties remaining were those from $705,000</a>.
The project included significantly sized blocks, and houses spanning up to five bedrooms.
Click here for other house and land developments and news.
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Mirvac’s Mossvale on Manly sells out more than 10 years after launch

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As many readers know, Brisbane City is well into a residential recovery.
<img src="/images/2014/05/22/matusik%20may%2022%20one.jpg" alt=""> 
This recovery started late last year.  It followed a long stagnation period, which was needed, as the market had overheated during the 2001 to 2008 upturn.
Brisbane values appreciated something in the order of 230% over that seven year period.
Where to next?
This time around, values are expected to lift, but mildly in comparison.
Potentially, house values could rise by another 11% and attached property values – especially in Brisbane’s middle-ring suburbs – by as much as 19%.  This takes into account the current low interest rate setting.
The meaning of recovery
Yet this recovery is more about being able to sell your property, rather than how much will it appreciate.  Our borrowing capacity analysis suggest that once interest rates normalise (increase) in coming years, dwelling appreciation across Brisbane will slowdown and even potentially see price falls if home loan rates rise to over 7%.
Like many areas across the country, Brisbane’s current recovery and pending upturn is likely to be short in duration this cycle, with the market peaking in late 2015/early 2016, depending on interest rate movements; employment trends and dwelling supply.
Future housing demand 
Brisbane City has an aging demographic profile.  Increasingly, much of the housing market across the Brisbane City area will be looking to downsize and/or retire. This will fuel the need for more attached homes; often smaller in size than traditional detached housing. The catch-cry is “place for space”, meaning that buyers will be looking to live in quality projects, in established urban areas.
c Interestingly, the first home buyer segment and even the upgrader market is unlikely to grow as much in size as those downsizing, suggesting that resale supply of baby boomer-first generation homes may exceed demand (first time buyers and those upgrading).
Prices and rental growth
Prices for second-hand stock could fall post 2016; and/or many looking to downsize will choose (reluctantly) to not sell and continue to age in place. More affordable infill stock would alleviate this potential market segment mismatch.
 <img src="/images/2014/05/22/matusik%20may%2022%20two.jpg" alt="">
Whilst remaining a large demographic group, with a 24% market share, the young rental market (tenants mostly of inner city apartments) is expected to contract in coming years.
This comes at a time when record numbers of new apartments are being built across Brisbane’s inner city.
Prices and rental growth for new apartments are likely to be subdued until the excess new supply is absorbed.  This may take several years and is likely to take place between 2016 and 2018.  The second-hand apartment market is likely to be hit the hardest, especially when it comes to rents.
Property DNA
Many of the market fundamentals – the city’s property DNA so to speak – look quite healthy over the next decade.  These include population growth; job creation; household incomes; relative affordability; renovation activity and infrastructure delivery. 
Matusik Property Pulse™ 
It may be best, if viewing Brisbane for residential investment, to buy something that would suit an aging demographic.  Something attached maybe, rather than a traditional detached home.
Also, given the aging demographic profile, our Property Pulse™ reading suggests that Brisbane’s net housing demand is close to peaking and will settle back (at a high level) in coming years.  This means subdued, not accelerating, price growth.
 <img src="/images/2014/05/22/matusik%20may%2022%20threwe.jpg" alt="">
The Matusik Property Pulse™ measures the size and direction of the largest (in terms of money spent) home buyer segment in the Australian real estate market, being the 40 to 44 year age group. There is a very strong correlation between the size and direction of this market segment and property sales; price and rental growth.
Final word 
Increasingly, Brisbane should attract high rents.  Rental returns are likely to be the major driver behind Brisbane residential investments in the coming decade.
Visit Michael's <a href="https://www.matusik.com.au/" target="_blank">website</a>, read <a href="https://www.matusikmissive.com.au/" target="_blank" rel="nofollow">his blog</a>, follow him on <a href="https://www.facebook.com/ThinkMatusik?fref=ts" target="_blank" rel="nofollow">Facebook</a> and <a href="https://www.twitter.com/michaelmatusik" target="_blank" rel="nofollow">Twitter</a>, or connect via <a href="https://www.linkedin.com/in/michaelmatusik" rel="nofollow">LinkedIn</a>.
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michaelmatusik-49YzLvdmNv

The Brisbane market recovery: Where to next?

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Leasing activity in Brisbane’s industrial market is on the improve, seeing rental growth for prime grade industrial stock and a growing pre-lease focus from tenants, according to Savills’ Spotlight on Brisbane Industrial report.
Savills Queensland associate director research Helen Swanson said that the market is competitive with new builds often more so in terms of rental rate than existing property.
“Leasing activity is particularly strong for prime grade quality warehousing, especially free-standing product,” said Swanson.
She noted that a 2.5% growth in rent has been seen for prime grade product over the 12 months to March 2014, as well as a number of significant pre-commitments. This includes DB Schenker and Northline at Redbank, and Kagan Logistics at Hemmant.
“There is also anecdotal evidence suggesting a number of other major pre-commitments may also be in the pipeline for the Brisbane market,” she said.
In the Brisbane industrial leasing market, it’s transport and logistics taking out gold as the most active – representing a huge 25% of all leasing activity over the 12 months to March 2014.
The wholesale and retail sector were responsible for 19% of all leases.
Similarly the residential market surge in south-east Queensland, which many have said is investor driven, has increased building supply demand. Despite this, the tenant market is said to still perceive that supply outweighs demand, explained Swanson.
“These two sectors are forecast to achieve strong growth over the next five years and should continue to be major takers of space in the Brisbane industrial market. These users are looking for efficiency gains and the option of brand new mega-style warehousing is appealing to some of the larger players,” she said.
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Brisbane’s industrial market on the improve with jump in rental growth: Savills

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A new $86 million development in Brisbane's south will house freight facility Toll Group, with 500 staff in the building that is the size of two Suncorp Stadiums. It employed 1,500 workers through construction and is located in the Logan Motorway Precinct.
Doors are now open on what is the largest pallets and oversize freight depot that Toll operates anywhere across the world, at 43,600 square metres for the facility on a 13 hectare site.
Premier Campbell newman, who announced the move, said that they welcome the investment and confidence into Queensland's economy.
“This new facility for Toll will be the largest in its world-wide operations and it’s encouraging they decided to open it in Queensland, the best place to live and work," he said.
“We hope Toll will continue to grow in years to come and employ more hard working Queenslanders.”
Developed by The GPT Group, it was announced in late-2012 that Toll had committed to leasing the precinct, once built, for 15 years. GPT was looking to increase their weighting in the logistics sector and have 100% ownership in this property.
At the time, head of investment management for GPT, Carmel Hourigan, said that they were bringing logistics and business parks to 15% of its portfolio.
"GPT is progressing well on this strategy having now acquired more than $200 million of industrial facilities in 2012," Hourigan said.
Toll NQX's Brisbane based offices have all been consolidated into this new office. There were previously three.
Divisional director for Toll, Mal Grimmond, said that they're hoping other businesses will invest in the state.
“The new depot has been designed to provide the absolute safest working environment for our people, which is essential in such a labour-intensive industry such as transport and logistics,” Grimmond said.
The facility includes a 2,000 square metre dedicated heavy vehicle workshop. It is in Karawatha, 22 kilometres south of Brisbane's CBD. It was chosen partly due to its access to all major arterial routes through the state's southeast.
Assisting with the development of the facility included the Queensland Department of Transport &amp; Main Roads, Brisbane City Council and Logan City Council. The architects Arqus, planners RPS, builders FDC Construction and security provider Visium were also involved.
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