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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Lochiel, the 1858 Hamilton house in Brisbane, has been listed for sale with offers due 13 June.
With views of the city, river and Story Bridge, <a href="https://hjre.com.au/listings/residential-140277-house/" target="_blank">Lochiel is set on a 2,344 square metre holding</a> surrounded by one hundred year old trees.
It is for sale through Gail Havik of Havik &amp; Jackson.
It last traded for $6.4 million in 2006.
It was built for auctioneer Sir John F Buckland, then and now one of Hamilton's largest private landholdings. It dates back to 33 years after Brisbane was first settled, situated in the most prestigious suburb in Queensland, Hamilton Hill.
Buckland had arrived in Brisbane in 1862, born in 1832 at Runnymede, in a farmhouse formerly used as a hunting lodge by King John, and situated immediately opposite the spot where the Magna Carta was signed.
The seven bedroom home has 1500 square metres of living and entertaining space.
There are stunning 20 foot high gold leaf cathedral ceilings. There is a pool and putting green in the grounds.
The horse stables are used for garaging.
Lochiel, initially known as Balmoral House, then as Runnymede, sits close to rocks named Cameron Rocks after the next owners.
<a href="https://www.propertyobserver.com.au/https://trove.nla.gov.au/ndp/del/article/19392069?searchTerm=S+Cameron" target="_blank">The Cameron's</a> were in residence for 100 years until 1999.
<a href="https://www.realestate.com.au/property-house-qld-hamilton-102839242" target="_blank">Adcock Prestige</a> sold to last in 2006.
In 2010 the vendors were fined $350,000 for 2007 works undertaken without Queensland Heritage Council approval.
The late Ray Catelan, who founded real estate information service RP Data, was fined $100,000 and his company fined $250,000 after pleading guilty in the Brisbane Magistrates Court to carrying out unauthorised building work.
Developers had tried to knock down the house in the late 1990s but this was opposed by neighbours, the Brisbane City Council and the National Trust.
Its western wing, gatehouse and museum were added in 1906 at a time when museums were a fad in so-called gentlemen's residences. It was filled with shells, birds eggs, native weapons, paintings, glass and china.
The museum wing held the personal and eclectic collection of John Samuel Cameron. It included Aboriginal artefacts, oriental furniture, porcelain painting and sculptures.
An upper storey was added in 1927. 
Lochiel was used as six flats from World War II to 1998.
Former owner Michelle Kleist restored the mansion in 2001 after a battle with the Heritage Council over several issues, including its colour.
She followed heritage directions and later said she was glad she did.
Lochiel is described by heritage architects as highly idiosyncratic.
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Lochiel, the 1858 Hamilton, Brisbane trophy home listed

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A new $85 million mixed-use residential tower, Trafalgar Lane, at Woolloongabba is bringing a bit of Melbourne to the Brisbane suburb.
The recently launched development from Pellicano Group includes views of Brisbane city, and a mix of one, two and three bedroom apartments from $345,000 at 855 Stanley Street.
Pellicano Group Queensland development manager Michael Kent said that the <a href="https://www.trafalgarlane.com.au/" target="_blank">Trafalgar Lane</a> design, from Melbourne laneway architect Techne Architects, is redefining the concept of inner city living.
It includes a podium at ground level, with 1,000 square metres of retail space, and a pedestrian link. This connects Stanley Street and Trafalgar Street.
"An intimate and intricately designed urban laneway - a focal point for the building and the inspiration behind the name of the new development - connects the building's two street sides and is set to become a new destination for dining, shopping and entertainment in Brisbane," Kent said. 
"The laneway lifestyle is completely unique to Brisbane, bringing a real cosmopolitan feel to the burgeoning area of Woolloongabba.”
He noted that the area was chosen for its property fundamentals with low vacancy rates, strong median rental prices and capital growth.
DBI Design created the 20 level tower, which features 147 apartments over 15 levels and two private residence’s lifts. This will be atop a five-level podium with retail and commercial space.
"It's been designed with the commanding views in mind, with private, noise-protected balconies and floor-to-ceiling windows. The north and west-facing apartments boast enviable views across the Gabba to the Brisbane River and the CBD, while  the southern and eastern-facing apartments offer wide open vistas towards Moreton Bay, with Norman Creek's parklands in the foreground,” he said.
"The modern exterior is complemented by luxurious, hand-selected fittings and finishes including stone benchtops with waterfall ends, high quality tapware, joinery and integrated fridge and dishwasher, complete with crisp, clean, refined interior detailing."
Each apartment includes a minimum of one parking space, which is flood-safe, as well as bike parking.
The development also features Trafalgar Residences’ Retreat on level six, a rooftop garden, a recreation area with pool and spa, a sauna, steam room, gym, yoga lawn, a residents’ lounge, a barbecue area and a media room.
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Brisbane’s Trafalgar Lane brings Melbourne-inspired laneway feel

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The John Dalton Award for House of the Year 2014 was awarded late last week to Twofold Studio and Cox Rayner’s Highgate Hill House.
The modern house (pictured above) was commended for its bespoke, controlled garden and outdoor living zones sequence.
“A sublime piece of architecture, expressed through intricate detailing that is seamlessly engaged with an ironically humble brief. A visceral experience of occupation is manifest through a series of spatially modest but poetically executed rooms,” the jury explained.
An Enduring Architecture Prize was given to AH Job and RP Froud for the 1960s Torbreck (pictured below) – the first multi-storey home unit development seen in Queensland.
<img src="/images/2014/05/19/torback%20may%2019%20one.png" alt="">
Also in Highate Hill, the project was built by NA Kratzmann Pty Ltd, who were one of the largest building contractors in Queensland in the late 1950s.
It is an eight-storey garden block, and was created with a lift-slab technique – something previously never used in Queensland. This required pre-fabricating the roof and floors on the ground and then lifting them into position. It also includes a fourteen-storey tower block.
Gallery photos by Christopher Frederick Jones courtesy of Cox Rayner Architects in collaboration with Twofold Studio
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Peek inside Brisbane’s House of the Year and the first multi-storey project in Queensland

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A private investor has paid $5.25 million for a modern industrial complex in Brisbane’s Crestmead.
Located in one of Brisbane's fastest growing industrial logistics hubs, the 6-8 Radium Street property, comprises 4,358 square metres of building floor area.
The vendor of the fully leased industrial property was Rob Pilch Investments Pty Ltd.
CBRE’s Sam Higgins and Edward Bull negotiated the sale.
The property offered a diverse income spread, with three established tenants -global company Unistrut and Australian-based companies Parkridge Holdings and Leverlink.
Mr Higgins said the property attracted strong interest from a range of private investors - most notable self-managed super funds.
“Demand for properties such as the subject investment is significantly outweighing current stock levels, and as a result of this imbalance, we anticipate net yields will continue to strengthen,” he added.   
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Private investor buys Crestmead, Brisbane industrial complex

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Health and wellness studio, Pure Health Clubs, has secured the last remaining vacancy in the Valad Property Group owned retail building in Brisbane's Queen Street. 
The club signed a seven year lease for an entire second floor, at 60 Queen Street, with an area of 796 square metres.  
Currently operating at 78 Queen Street, the club will relocate from their Brisbane CBD club to the new venue once fitout is completed in May.
Colliers International's Amanda Foggo negotiated the lease.
“The new venue will enhance the club’s functionality, offer brand new facilities to members and assist in growing their client base," Foggo said. 
The 3,150 square metre building, spread over three levels, is anchored by other national retailers.
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Final vacancy in Queen Street, Brisbane building snapped up

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The Riverlakes Shopping Village in Brisbane's Cornubia has been listed for sale.
Originally developed around 1992 and refurbished in 2011/2012, the centre occupies a site of 14,439 square metres on the Beenleigh-Redland Bay Road.
The complex is anchored by an IGA Supermarket, Chemist Warehouse and Medical Centre and supported by a mix of specialty tenants including Bottle Shop, Newsagency, TAB, Bakery, Seafood Takeaway, Hairdresser and a drive-through Zarraffas Coffee cafe. It also features a freestanding childcare and fitness centres, as well as grade-level parking for about 186 cars.
The marketing campaign is being handled by Peter Tyson and Michael Harcourt of Savills retail investment aales.
Mr Tyson said the property is expected to generate strong interest from a wide range of investors, including private buyers, self-managed super funds and consortiums. 
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Riverlakes Shopping Village in Cornubia, Brisbane listed

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Positive signs are emerging for Brisbane's industrial property market, with prime rents kicking 2.5% in the 12 months to March, a new report has revealed.
The spike in rents was just one of the upbeat themes outlined in Savills latest Spotlight on Brisbane industrial research report, which also showed growing tenant demand for pre-leased quality industrial space across Brisbane.
A lot of this increased focus on the pre-lease market, said the report, could be attributed to the competitive nature of this market, "where new builds can be more competitive with the rental rate than existing properties".
“Leasing activity is particularly strong for prime grade quality warehousing, especially free-standing product,” noted Savills Queensland associate director of research, Helen Swanson.
“This has led to 2.5% rental growth for prime grade product over the 12 months to March 2014."
<img src="/images/2014/05/13/chart%20may%2013%20one.png" alt="">
Boding well for the market has also been the number of significant pre-commitments from major companies in the last quarter. Among them 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,” said the report.
The transport and logistics sectors were identified as the most active in the Brisbane industrial leasing market, accounting for 25% of all leasing activity in the 12 months to March. The wholesale and retail sectors were the next biggest movers, accounting for 19% of all leases.
"The resurgence of the residential market within south-east Queensland has also see a huge increase in demand from the building supplies industry with many of these companies taking advantage of the lower rental rates offered by secondary product", it said.
"There is still however a lack of urgency in the tenant market with the perception that supply outweighs demand."
Those 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,” added Ms Swanson.
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Spike in Brisbane industrial prime rents

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The Brisbane Airport Corporation has proposed a major hotel development at the domestic terminal, which includes two short-term accommodation towers.
Suggesting July 2014 to February 2016 construction, the tallest tower will be a five star 47 metre-tall 10-level development, providing 125 rooms. While the smaller tower, a nine-level 3.5 star creation offers 225 rooms.
The hotel, with road access primarily from Dryandra Drive and secondarily from Alpinia Drive, will also include 1,400 square metres of conference facilities and 133 car parking spaces in a basement car park.
Construction of the building may see the creation of 200 jobs.
To further bolster the case for the hotel, the proposal notes a report from 2012 ‘Guide to Hotel Investment in Brisbane’ that noted that there is not enough accommodation to satisfy demand.
“To meet the predicated forecast demand an additional 300 rooms per year to the year 2022 will be necessary. Further to this, to meet the state government’s growth targets of doubling overnight visitor expenditure by 2020, Brisbane will need 450 extra rooms per year. The report also confirms that in 2012 business travellers accounted for 52.7% of the hotel visitor market,” it notes.
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Brisbane Airport looks to major hotel development

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Brisbane CBD's new tallest tower, 81-level Meriton Serviced Apartments Brisbane, includes the highest apartment in Brisbane.
The development, at 43 Herschel Street, includes a penthouse collection where the apartments are offered with three-bedrooms, each with own bathroom, and bases the design on a previously successful launch in Sydney.
Meriton Serviced Apartments' national manager Matthew Thomas, said that <a href="https://www.meritonapartments.com.au/brisbane/herschel-street" target="_blank">these top-floor penthouses</a> include imported marble, custom-made carpeting and prestige leather sofas and dining chairs.
They include views of the city skyline and the Brisbane River to the mountains.
The complex also includes a heated indoor swimming pool and spa, private gym and a sauna.
There is a daily housekeeping service to all the apartments, and also a bi-weekly full housekeeping service.
It appears if you were to book for tonight, a 122 square metre penthouse will set you back around $895 per night, with a sleeping capacity of six people. Booking further in advance may net you the penthouse for under $600 a night.
Each room comes with either one king zip bed, or two single beds. One of the bathrooms has a shower and a bath, where the others have showers.
A TV with some Foxtel channels and a Blu-ray player is included, as well as iPod/iPhone docks in each bedroom, individually controlled heating/air-conditioning, an espresso machine with coffee pods and an internal laundry.
“The penthouses are the perfect special occasion, once-in-a-lifetime experience,” said Matthew Thomas.
Local restaurants provide meal delivery straight to the apartment.
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A sneak peek inside Brisbane's highest apartment

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A commercial building with a long-term tenant in Brisbane’s Strathpine has fetched $2 million.
A private investor picked up the 2,200 square metre property, at 3/104 Gympie Road, Strathpine.
The sale reflected a yield of 8.5%.
Handling the sale was Dillon Murphy and Trevor Nelson-Jones of Ray White Brisbane Northside.
The building is leased to Inside Sportz, with a returning rental income of more than $170,000 per annum. The lease is in place until 2017, with a five year option.
“The sports centre is situated on approximately 3,382 square metre of land and features indoor cricket, netball, soccer and beach volleyball facilities", said Mr Murphy. 
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