A landmark former orphanage site in Surrey Hills could be transformed into a new residential community under plans lodged by <a href="https://www.apartments.com.au/developers/antipodean-land-developments">Antipodean Land Developments</a> that would deliver 76 apartments and townhouses while restoring some of the suburb's most significant heritage buildings.

The burgeoninng Melbourne-based developer has submitted plans for the 9,158 sqm site at 1 Kent Road and 24 Durham Road, home to the former St Joseph's Home for Destitute Children, a historic institutional complex dating back to the late 19th century. The proposal seeks to adaptively reuse several heritage buildings while introducing two new four-storey residential buildings set within extensive landscaped grounds.

Designed by <a href="https://www.apartments.com.au/architects/woods-bagot">Woods Bagot</a> and Kerstin Thompson Architects, the project has been conceived as a contemporary residential village embedded within a restored heritage precinct. The development team describes the design approach as "The Village in the Garden," with new buildings positioned among mature landscaping by OCULUS and significant heritage structures.

<img alt="First look: Antipodean Land Developments plans heritage-led apartment community in Surrey Hills" data-entity-type="file" data-entity-uuid="44ec8c1b-c0b6-44ae-859e-5811b3e6a023" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Untitled%20design%20%281%29.png?VersionId=p.p1_KFh4iQoV4nisdnPfQBAsWNi7m79" />

The proposal would deliver 76 dwellings comprising a mix of apartments and duplex-style residences, significantly increasing housing supply on one of the largest privately held residential landholdings in Surrey Hills. The development includes 127 car spaces, 24 bicycle spaces and more than 1,000 sqm of communal amenity, with the existing chapel building earmarked for conversion into resident facilities.

According to the planning submission, the project centres on the restoration and adaptive reuse of the site's most significant heritage assets, including the original c.1889 St Joseph's building, the chapel designed by architect Augustus Andrew Fritsch, and the historic brick perimeter walls and entry gates. The proposal also incorporates the retention of other contributory buildings including the former infirmary and school building.

Tract Consultants, in the planning report accompanying the application, said the scheme had been shaped through extensive heritage analysis and design development.

"The shared vision for the Site by the project team has culminated in a scheme which successfully breathes life back into a historic site while delivering upon the objectives of Victoria's Housing Statement in a carefully curated and contextually responsive manner."

<img alt="First look: Antipodean Land Developments plans heritage-led apartment community in Surrey Hills" data-entity-type="file" data-entity-uuid="7263b7d8-95ea-400f-9531-6ca7d22c3c33" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Untitled%20design%20%282%29.png?VersionId=4cR1tiWOsDpgxEOwZi5vVFcyvvOsYkIE" />

The proposal is being assessed under Victoria's Significant Residential Development with Affordable Housing pathway. As part of the application, three per cent of the project's residential development cost would be contributed to the Social Housing Growth Fund. The development would also provide a diverse mix of one, two and three-bedroom residences targeting a broader range of buyers than typically found in Surrey Hills' detached housing market.

Sustainability initiatives include an anticipated 66 per cent BESS score, natural cross-ventilation to 80 per cent of apartments, 28 per cent deep soil landscaping and a canopy cover outcome exceeding local planning requirements. The proposal also sets aside more than 1,083 sqm for communal indoor and outdoor resident amenity spaces.

<img alt="First look: Antipodean Land Developments plans heritage-led apartment community in Surrey Hills" data-entity-type="file" data-entity-uuid="33fad46f-fe26-4d0a-acfd-6b776e1c6a3d" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Untitled%20design.png?VersionId=D9F6WVSyYCtGvSUmith35LRp6R7PQkw_" />

Planning documents describe the property as one of the largest underutilised residential sites in Surrey Hills, arguing it presents a rare opportunity to introduce "missing middle" housing in an established inner-eastern suburb while preserving and revitalising a significant heritage precinct.

Antipodean Land Developments has built a reputation for design-focused residential projects across Melbourne, particularly in the medium-density sector. Previous developments include Neighbourhood in Brunswick East, delivered with Breathe Architecture, and Balfe Park Lane, designed by Kerstin Thompson Architects.

They've been very active in site acquisition as they build out their future development pipeline. They recently launched Thornubury House, 45 apartments above a mix of commercial, retail, and food and beverage tenancies, and have plans for a boutique project in Fitzroy and another <a href="https://www.apartments.com.au/news/vic/antipodean-plan-apartments-for-deepdenes-missing-middle-on-whitehorse-road">"missing middle" project</a> on Deepdene's Whitehorse Road.

Joel Robinson

First look: Antipodean Land Developments plans heritage-led apartment community in Surrey Hills

Developer <a href="https://www.apartments.com.au/developers/auyin-property-development">Auyin</a> is the latest to turn to the Victorian Government's Development Facilitation Program in an effort to secure approval for its long-planned, mixed-use project in Elsternwick.

In 2018, Auyin lodged plans with Glen Eira City Council for a 14-storey building, however Council approved a reduced eight-storey scheme. A subsequent VCAT appeal in 2019 upheld the eight-storey height limit.

The project was later amended to nine storeys, but Auyin is now seeking to revive something closer to its original vision. The developer argues that the planning context has evolved significantly over the past decade, particularly within the Elsternwick Activity Centre, where higher-density development has increasingly been encouraged along Glen Huntly Road.

The proposal would transform the 1,239 sqm site at <a href="https://www.apartments.com.au/new-apartments/7-12-horne-street-elsternwick-vic-3185">7-15 Horne Street</a>, opposite Elsternwick Railway Station, into a 13-storey residential and retail development designed by CBG Architects, with 40 apartments

The site currently comprises three commercial properties.

<img alt="First look: 13-storey mixed-use tower planned for Elsternwick activity centre" data-entity-type="file" data-entity-uuid="5f465dd4-509b-4082-a669-0253b313914b" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/elsternwick%20podium.png?VersionId=72frWi0SmQ5AVJ3ARRhX5ILUYObhTm7x" />

The proposed apartment mix comprises 25 two-bedroom and 15 three-bedroom residences above 200 sqm of retail space at ground level. Residents would have access to a 90 sqm wellness facility, a 351 sqm communal indoor and outdoor terrace on the third level, and extensive landscaped areas throughout the development. A publicly accessible 135 sqm plaza would be created on the north-east corner of the site, providing seating, landscaping, and a new gathering space adjoining Horne Street.

The design adopts a four-storey podium that references the finer-grain character of the surrounding streetscape, with the upper tower recessed behind generous setbacks on all boundaries.

<img alt="First look: 13-storey mixed-use tower planned for Elsternwick activity centre" data-entity-type="file" data-entity-uuid="e637e763-2abc-4c34-a0aa-5c7ad36fae18" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/elsternwick%20open.png?VersionId=J1AoOpZgTyaF.KeeFSX6lMjEScX8KKRi" />

A key element of the proposal is the reconfiguration and widening of the surrounding laneways. Vehicle access would be retained from Lois Lane, with upgraded pedestrian connections linking Ross Street and Horne Street. The development would provide 58 residential car spaces, two retail car spaces, and 52 bicycle spaces across two basement levels and ground-floor facilities.

Architecturally, the building draws inspiration from the established character of Elsternwick Village. The façade combines dark charcoal brickwork, textured concrete, bronze-toned metal detailing, and extensive planting integrated into podium and tower levels. The design also incorporates a chamfered corner treatment and publicly accessible plaza intended to strengthen pedestrian activity around the station precinct.

Elsternwick's last new development completion was&nbsp;EVA Elsternwick by Pitard late last year. <a href="https://www.apartments.com.au/developers/milieu-property">Milieu</a> is working away on its nature-led neighbourhood, <a href="https://www.apartments.com.au/new-apartments/elsternwick-gardens-by-milieu-8-gordon-street-elsternwick-vic-3185">Elsternwick Gardens</a>, on Gordon Street, with its first stage expected to complete next year.

First look: Auyin seeks mixed-use apartment project in growing Elsternwick Activity Centre

<a href="https://www.apartments.com.au/new-apartments/otium-parkdale-123-125-como-parade-east-parkdale-vic-3195">Otium Parkdale</a>, the 13-residence boutique development by&nbsp;<a href="https://www.apartments.com.au/developers/huxtable-property">Huxtable Property</a>, has entered its final stages of delivery, with completion expected within the coming month and more than half of the residences sold.

The Como Parade East project is nearing the finish line at a time when opportunities to purchase new apartments in <a href="https://www.apartments.com.au/developments/parkdale-vic-3195">Parkdale</a> remain exceptionally limited. Fewer than 10 per cent of dwellings in the bayside suburb are apartments, making developments like Otium a relatively rare addition to a market traditionally dominated by detached housing.

[smartcode_project:default project_id=134974 project_image_fid=5427]

The three-level development comprises 13 residences, including ten two-bedroom apartments and three larger three-bedroom homes, all positioned above a secure basement car park.

Designed by <a href="https://www.apartments.com.au/architects/almeida-architects">Almeida Architects</a> with a strong connection to its coastal surroundings, Otium combines red brick, exposed concrete and dark metal detailing with integrated landscaping and greenery. Expansive glazing, generous balconies and terraces have been incorporated throughout the design to maximise natural light and reinforce indoor-outdoor living.

Inside, the residences feature engineered European oak flooring, natural and reconstituted stone benchtops, Bosch kitchen appliances, ducted heating and cooling, lift access and secure entry systems. The larger three-bedroom residences on the upper level have been designed with house-like proportions, while the two-bedroom apartments prioritise functionality, flexibility and low-maintenance living.

[smartcode_project:default project_id=134974 project_image_fid=5421]

The project is now in its final stages, with <a href="https://www.apartments.com.au/builders/labco">Labco</a> completing the remaining landscaping and external finishing works following the completion of the residences' interiors.

Otium's location within the heart of Parkdale continues to underpin its appeal. Residents will be just steps from local cafés, restaurants, shops and the newly elevated Parkdale Station, while the beach is less than a kilometre away.

With the project tracking ahead of schedule, buyers can currently secure a residence with a five per cent deposit and benefit from settlement terms of up to eight months. The advanced stage of construction also provides buyers with the opportunity to walk through the near-complete residences and experience the quality and finishes firsthand ahead of completion.

[smartcode_project_cta:default project_id=134974]

Otium Parkdale enters final month before completion as rare apartment opportunity nears sellout

A new boutique apartment development is entering the market in <a href="https://www.apartments.com.au/developments/chermside-qld-4032">Chermside</a>, with Brisbane-based developer <a href="https://www.apartments.com.au/developers/ausdev">Ausdev</a> bringing 33 residences to a well-connected pocket of Brisbane's north.

<a href="https://www.apartments.com.au/new-apartments/parkdrive-apartments-chermside-25-sammells-drive-chermside-qld-4032">Parkdrive Apartments</a>, at 25 Sammells Drive, will comprise a mix of one- and two-bedroom residences positioned within walking distance of Westfield Chermside, The Prince Charles Hospital, and Bradbury Park.

Established in 1989, Ausdev has a long-standing presence across both development and construction, with Parkdrive Apartments representing its latest residential project in Brisbane's northern suburbs.

[smartcode_project:default project_id=152125 project_image_fid=363778]

The development has been designed around open-plan living and natural light, with residences featuring stone benchtops, timber cabinetry, BOSCH appliances, and private balconies that extend the living areas outdoors.

Kitchens are positioned as the centrepiece of the homes, incorporating natural material palettes and integrated appliances, while bathrooms have been designed with a focus on functionality and understated finishes.

Residents will have access to a communal barbecue and entertaining area on Level 3, providing shared outdoor space within the development. Secure parking and lift access are also incorporated into the building.

The project will deliver a limited collection of 33 apartments, with one-bedroom residences priced from $749,000.

[smartcode_project:default project_id=152125 project_image_fid=363782]

Beyond the building itself, the location places residents within easy reach of several of Chermside's key amenities. Bradbury Park is around 350 metres away, while Westfield Chermside is approximately 1.3 kilometres from the site. The Prince Charles Hospital is located within 750 metres, and the Chermside Bus Interchange is around 1.5 kilometres away, providing connections across Brisbane.

Parkdrive Apartments adds to the growing residential pipeline in Chermside, a suburb that continues to evolve as a major retail, healthcare, and transport hub for Brisbane's north.

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Ausdev introduces boutique Parkdrive Apartments to Chermside's growing centre

<a href="https://www.apartments.com.au/developers/skymark-group">Skymark</a>'s boutique Cronulla development Solis has secured a 10-year Latent Defects Insurance policy through Resilience Insurance, providing buyers of the 16-residence building on Ewos Parade with structural and waterproofing protection that extends a decade beyond the building's completion.

Currently under construction and due for completion in late 2027, <a href="https://www.apartments.com.au/new-apartments/solis-cronulla-8-ewos-parade-cronulla-nsw-2230">Solis</a> is one of a small number of new developments in the Sutherland Shire to carry Resilience LDI coverage, a distinction that carries increasing weight as buyer confidence in the off-the-plan sector continues to be shaped by how developers stand behind their product.

Latent Defects Insurance, which entered the Australian market in 2022 when Resilience Insurance was approved to offer the cover, protects buyers against major structural or waterproofing defects for ten years post-completion. Unlike traditional statutory warranties, it operates as a first-resort policy, if a covered defect arises, the insurer responds directly, without the buyer needing to pursue the builder or developer through a lengthy claims process.

Resilience Insurance CEO Corey Nugent has noted that the product addresses something fundamental to the new apartment market.

"The overarching feedback from prospective buyers in the new development space is that they want more confidence and assurances around the quality of the build," Nugent says.

"Resilience Insurance Latent Defects Insurance not only gives them complete peace of mind for 10 years, but it shows the developer they are buying from is standing by their product."

[smartcode_project:default project_id=150499 project_image_fid=370898]

For Solis, the Resilience LDI policy adds a meaningful layer of accountability to an already considered project. The development comprises nine two-bedroom and seven three-bedroom residences, including one dual-level three-bedroom apartment, across a five-storey building on Ewos Parade, positioned between Shelly Beach and South Cronulla.

Garden apartments connect directly to private landscaped courtyards, while upper-level homes capture beach views to the east from level four and above.&nbsp;

All 16 residences include at least one balcony or courtyard, and select apartments on the upper floors feature bar areas and secondary flexible living spaces.

Hiba Sander, Managing Director of Skymark, says Solis offers a rare balance, nestled between the quiet beauty of secluded beaches and the lively charm of South Cronulla's esplanade.

"It's a place to choose your pace and live gracefully, seaside'," Sander says.

[smartcode_project:default project_id=150499 project_image_fid=370900]

The architecture, designed by <a href="https://www.apartments.com.au/architects/ida-design-group">IDA Design Group</a>'s Michael Trinh, draws from the natural erosion patterns of <a href="https://www.apartments.com.au/developments/cronulla-nsw-2230">Cronulla</a>'s sandstone headlands, translating the organic forms of the coastline into soft curves, pavilion-style massing, and a material palette chosen for longevity in a salt-tinged environment.&nbsp;

Textured natural stone, soft renders, and timber-look battens reference the tones of the surrounding cliffs, while the building has been oriented to maximise natural light and passive ventilation, with primary living spaces facing north and east to capture morning sun and sea breezes.

"At Solis, our aim was to create architecture that feels quietly confident, grounded in natural materials like stone and timber, and elevated by light and landscape," Trinh says.&nbsp;

"The buildings are designed to sit gently within their coastal surrounds, with expansive glazing and abundant greenery creating a seamless dialogue between inside and out."

[smartcode_project:default project_id=150499 project_image_fid=370897]

Interiors by <a href="https://www.apartments.com.au/architects/hot-black">Hot Black</a> carry the same material language through to every room. Kitchens feature integrated Gaggenau appliances, sculpted stone benchtops, and Lo &amp; Co joinery, while bathrooms feature natural stone, timber, and brushed metal finishes.&nbsp;

Hot Black Founder and Design Director Sophie Safrin describes the intent as one of considered restraint: "At Solis, every detail has been thoughtfully considered to create a timeless coastal retreat, calm, refined, and effortlessly liveable. From natural finishes to seamless indoor-outdoor flow, Solis offers a quiet elegance that's deeply connected to its surroundings.

The landscape, designed by Julian Brady of <a href="https://www.apartments.com.au/landscape-architect/sitedesignstudios">Site Design Studios</a>, treats green space as an integral part of the resident experience rather than an afterthought.&nbsp;

"Gentle curves and layered native plantings mirror the ebb and flow of the ocean," Julian Brady says, "creating a serene connection between architecture and place."&nbsp;

Coco Republic has provided bespoke furniture packages tailored to the project's coastal palette.

[smartcode_project:default project_id=150499 project_image_fid=370899]

Skymark has an established track record in the Sutherland Shire, with a portfolio spanning Cronulla, Woolooware and Burraneer that includes Isla, Sylva, Bask, Shells, Sula and Mist. Securing LDI on Solis reflects a broader shift in how the developer is positioning its buildings to buyers, at a time when Resilience Insurance expects the policy to become mandatory in New South Wales by 2028.

Sales at Solis are launching soon through Ray White Projects, with an official event scheduled for 11 June. Enquire for more information.

[smartcode_project_cta:default project_id=150499]

Skymark takes out 10-year Resilience Insurance LDI at Solis Cronulla

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A prime Adelaide CBD multi-deck car park with development potential in central Adelaide has sold for $27,001,000. 
The sale price represents a rate per bay of almost $47,000.
Colliers International’s Ian Thomas, Alastair Mackie and Paul Van Reesema sold the Union Street car park located at 52-70 Frome Street in Adelaide.
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Adelaide CBD car spaces fetching $47,000

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Victorian Planning Minister Richard Wynne has approved an amended Grocon application for 85 Spring Street, Melbourne, which was refused planning permission in early April. 
Wynne ruled the proposed 46-level Grocon tower was too high and too close to other buildings in the eastern Collins Street precinct, preferring the advice of city hall over his planning officers, who had recommended in favour of the tower, with conditions.
There is no height limit at 85 Spring Street, occupied now by a 16-storey office tower which Grocon acquired in 2013 for about $45 million.
Grocon will trim its proposal to 39 levels and reduce the number of apartments, originally about 305, down to about 225.
The building would no longer overshadow the adjacent Gordon Reserve, while Grocon would have to secure air rights from neighbour Anzac House as part of the planning permit. This move would protect the views of the new apartments.
Positioned just a few hundred metres from Parliament House, the 16-storey building is a late 1980s office building.
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Victorian planning minister Richard Wynne approves Grocon on Spring Street

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The home of Melbourne's Hare Krishna movement in Swanston Street has been sold to a Chinese investor for $15.8 million, breaking the 16 year drought of selling a freestanding property in central Swanston Street.
Savills agents Clinton Baxter and Nick Peden said the buyer of 123 Swanston St had bought three weeks before the close of the expressions of interest period.
"This is the state of what is an extraordinary market where a purchaser buys several weeks prior to the close of a campaign with a knock-out offer more than $5.8 million or nearly 60% above expectations for the property," Mr Baxter said.
"The eight level building is leased to two long-standing tenants including Downtown Revolution which occupies the ground and basement levels, whilst the Hare Krishna organization occupies three of the upper levels on a five year lease.  
"Both tenants have five year leases at a total current rental of $438,400 per annum."
"The vendor purchased the property in 1997 for $1,860,000 and enjoyed exceptional capital growth of 849% during the 18 years of ownership plus rental income throughout."
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Hare Krishna's Melbourne HQ sold

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Marketing of the $300 million Melbourne development, Shadow Play, a 46-level tower at 105 Clarendon Street, comes with no ordinary video.
It is a <a href="https://www.bpmcorp.com.au/" target="_blank">saucy film</a> to help sell <a href="https://www.bpmcorp.com.au/projects/shadow-play/" target="_blank">the 494 one, two, and three-bedroom apartments</a>.
Perhaps 50 Shades of Grey inspired?
The vibrant developer, BPM recently announced a local lawyer buyer had purchased the 712 sq m penthouse. 
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The 45th floor was originally designed as five separate apartments, but will now be amalgamated to form one large apartment, as is often the case with other highrise.
Designed by Ellenberg Fraser, with interior finishes from designers Hecker Guthrie, the project is set for completion in 2018 at the corner of City Road and Clarendon Street, previously home to King Furniture.
The defining feature of the tower will be a sculptural exterior, creating undulations in the building’s facade to create movement with reflected light. 
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Apartments will range from 45 sq m to 101 sq m with prices starting at $371,000.
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The developer had previously focused on medium density residential project in Melbourne’s bayside suburbs with BPM founder Jonathan Hallinan telling the mid-week Sydney launch the high-rise development marked a new direction for the company.
“The launch of Shadow Play represents a new era for BPM and is the realisation of my long term vision to contribute to the architectural impact on Melbourne’s skyline,” Jonathan Hallinan said.
The residential apartment tower, set near Crown Entertainment Complex, is on display this weekend at the Park Hyatt, Sydney through Colliers International.
Ashley Bramich, the sales and marketing director for developer BPM, recently noted that while some Melburnians were still yet accepting of the concept of innercity apartment living, the uber-wealthy were embracing it as a prestige living option, as it is considered in many European and American cities. 
 
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Shades of Grey suggestiveness in BPM's Shadow Play highrise marketing

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Commercial property giants DEXUS Property Group, GPT Group and Knight Frank have signed new partnership arrangements with tech start-up Divvy Parking, which has developed an airbnb-style platform to unlock the latent value in the thousands of under-used car parking spaces around Australia.
<a href="https://www.divvy.com.au" target="_blank">Divvy Parking</a> also announced it has secured $2.5 million in a Series A funding round, to expand and scale its smart solution that connects commuters with affordable commercial parking spaces. Both deals accelerate the parking platform’s expansion from a peer-to-peer service into the commercial property sector. 
Funding will fast-track the roll-out of industry-changing access technology, transforming how people access short and long term parking by opening up under-utilised short and long term spaces.  
Under the terms of the new partnerships the property groups will use the Divvy platform to assist in the management of their extensive car parking assets, enabling them to rent out unused spaces for short or long term periods.
Divvy had also recently signed with office tower tenant services provider Inlink, which it said would potentially give it access to a further 50 per cent of the commercial office tower market. 
The firm was originally founded as a peer-to-peer company similar to Airbnb letting individual users rent its parking spaces.
But Divvy founder and CEO Nick Austin advised the company had since pivoted to make commercial property providers its primary target for monetising the platform.
Some 80% of the company's revenue now came from corporate clients.
Knight Frank managing director Aaron McGhee say he had seen improvements in the management of its parking assets since the early days of its partnership with Divvy.
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Divvy set to disrupt CBD car parking industry

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Credit Corp Group, an Australian listed company, has committed to a new lease of circa 3,000 square metres at 201 Kent Street, Sydney.
Savills Australia national leasing director Rob Dickins says the deal highlights the Barangaroo effect which has firmly taken hold as corporate users are seeing this now as a firmly established precinct.
"If not moving into Barangaroo they are setting their sights on premium buildings within very close proximity."
201 Kent Street, which forms part of the Maritime Trade Towers Complex, is a 40,000 square metre A-Grade building strategically located within the western CBD fringe bordering the new Barangaroo precinct.
According to Savills National Leasing Director Rob Dickins who brokered the deal, Credit Corp Group have taken the whole of levels 15 &amp; 24 of 201 Kent Street. 
Credit Corp Group’s current HQ are over four floors at 10 Barrack Street and this new move will amalgamate the Group over two whole floors with a brand new fit out.
The 3000 square metre lease was signed for an initial period of five years with a further five year option. Although the rent has not been disclosed rents in 201 Kent Street have been in the order of $675 per square metre net.  
Mr Dickins said that demand for office space at 201 Kent Street had been significant. 
“As at November of last year there was circa 7,000 square metres of vacant space at 201 Kent Street and within less than six months we have leased all available space.”
In three separate leasing deals in May, Savills leased approximately 2,300 square metres of space at 201 Kent Street, tenants included an education provider, a childcare facilities group and a property consulting group.
“The Barangaroo effect has firmly taken hold as corporate users are seeing this as a firmly established precinct and, if not moving into Barangaroo, are setting their sights on premium buildings within very close proximity,” added Mr Dickins.
201 Kent Street, which forms part of the Maritime Trade Towers Complex, is a 40,000sqm A-Grade building jointly owned by Investa Property Group.  It is strategically located within the CBD and the new Barangaroo precinct.
Rob Dickins advised Credit Corp Group have taken the whole of levels 15 &amp; 24 of 201 Kent Street. 
"Credit Corp Group’s current HQ are over four floors at 10 Barrack Street and this new move will amalgamate the Group over two whole floors with a brand new fit out.
The 3000 square metre lease was signed for an initial period of five years with a further five year option.
Although the rent has not been disclosed rents in 201 Kent Street have been in the order of $675 per square metre net.  
Mr Dickins said that demand for office space at 201 Kent Street had been significant. 
“As at November of last year there was circa 7,000 square metres of vacant space at 201 Kent Street and within less than six months we have leased all available space.”
In three separate leasing deals in May, Savills leased approximately 2,300 square metres of space at 201 Kent Street, tenants included an education provider, a childcare facilities group and a property consulting group.
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Barangaroo effect in Sydney office lease deals

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DEXUS Property Group (DEXUS) and DEXUS Wholesale Property Fund (DWPF) today announced that they will acquire Waterfront Place and Eagle Street Pier within the prime commercial precinct of the Brisbane CBD for $635 million.
It reflects $9,664 per square metre for the complex and a capitalisation rate of 6.9%. 
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Stockland agreed to sell its 50% stake in the 40-storey Brisbane Waterfront Place office tower and Eagle Street Pier for $317.5 million to DEXUS.
Stockland will generate $296 million from the sale of the office tower, which is a 3% premium to its December 2014 book value of $287.1 million.
As part of the transaction, Stockland will also sell its 50% stake in the Eagle Street Pier retail and restaurant precinct for an additional $21.5 million.
Stockland and the Future Fund, through its manager Corval, entered into the agreement to sell the entire 100% interest in the tower and pier to DEXUS in what is a challenging leasing market.
The asset is currently 90% leased.
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Waterfront Place overlooks the Brisbane River and features 59,500 square metres of premium office space with floor plates averaging 1,800 square metres. The building has a 5 star NABERS energy rating and a 4 star NABERS water rating. 
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Stockland acquired the office tower in February 2004 and has invested $171 million, including the cost of additions, in its 50% stake.
The other 50% interest in the property was placed into a Stockland- managed retail fund and subsequently sold to the Future Fund in 2011 for $216 million.
CBRE advised it is the largest single office sale to have occurred in Queensland and one of the largest to have occurred in Australia - and certainly the largest since the GFC. 
“The acquisition by DEXUS is a significant vote of confidence in the Brisbane office market and the medium term outlook for Queensland,” said Bruce Baker, CBRE senior managing director, Queensland.
“Whilst foreign capital has featured heavily in the Australian market recently, the Waterfront Place transaction shows the big domestic players are still actively pursuing prime opportunities,” Flint Davidson, CBRE Director, institutional investments said.
 
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Brisbane Waterfront Place sold to Dexus

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Savills have sold a Melbourne CBD development site with a permit for a twin tower project incorporating 400 apartments.
It was likely to fetch more than $20 million, but secured $35 million.
Major UK student accommodation developer, Scape paid a record CBD land rate of $37,154 a square metre for a major CBD development site. The 212-222 La Trobe Street property, comprising a large 942 square metre site zoned Capital City 1 with five street frontages, is located directly opposite Melbourne Central shopping centre. The recently approved permit would see the construction of connecting Jackson Clements Burrows-designed towers of 39 and 54 levels on the site which stretches through to a second frontage on Little La Trobe Street. According to Savills agent Nick Peden and Clinton Baxter, the property offered the single best redevelopment opportunity to be offered to the Melbourne market this year.
The property, which has been privately owned for 31 years.
Expressions of interest closed June 10.
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Savills secures snappy $35 million La Trobe Street, Melbourne site sale

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Brigt Australia, an Australian based property investment company with a head office in China, has lease office space at 133 Castlereagh Street, Sydney.
The deal, negotiated by Jamie Horton of Savills Office Leasing, comprises of 226 square metres of fitted out office space.
It was at a rental of circa $168,000 per annum net.
It was Brigt Australia’s first office premises in Australia, having had branches throughout Asia.
133 Castlereagh Street is a 32 storey "A" Grade office tower featuring column free floor plates of approximately 1,236 sqm.
Located between Market and Park Streets, the complex also features onsite childcare, secure basement parking, bicycle racks, showers, lockers and change room facilities.
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Brigt takes Sydney office space through Savills

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GUEST OBSERVER
Traditionally, parents of Melbourne have settled their clan in the eastern suburbs, close to many of the city’s best schools and facilities. But as prices across Melbourne soar, especially in the inner east, affordability is a big issue for young families. 
We’re seeing a number of young couples come to the inner north where a family home in the likes of Brunswick, North Melbourne or Preston comes at a modest price point of $700,000 to $800,000. Plus, families are close to the CBD and employment opportunities, as well as the lifestyle amenities abundant in the north, including restaurants, parks, cafes and cultural activities.
However, the trade-off for this buyer market is the limited schooling options. The number of secondary facilities in the inner north are few and far between. While mums and dads typically prefer to live close to schools and travel to the city to work, we’re now seeing the opposite where parents are within minutes to the CBD but are having their children commute to schools in the eastern suburbs.
This has meant that the demographic of buyers in the inner north has shifted. This season, we’ve witnessed a magnitude of families on the hunt for a home for the next 15 to 20 years. As such, family homes or large townhouses like <a href="https://mail.privatemedia.com.au/owa/redir.aspx?SURL=hDqEtOi4rl-_B88xFYBr3T3NjKoWiIrUWJ2e0lT7zwfpotDdeHDSCGgAdAB0AHAAOgAvAC8AdwB3AHcALgBoAG8AYwBrAGkAbgBnAHMAdAB1AGEAcgB0AC4AYwBvAG0ALgBhAHUALwAxADkAXwBGAE8AUgBEAF8AUwBUAFIARQBFAFQAXwBCAFIAVQBOAFMAVwBJAEMASwBfAFYASQBDAF8AMwAwADUANgBfAFMATwBMAEQA&amp;URL=http%3a%2f%2fwww.hockingstuart.com.au%2f19_FORD_STREET_BRUNSWICK_VIC_3056_SOLD" target="_blank">19 Ford St in Brunswick</a> are being snapped up at auction.
As families start to see the merits of the north, the local market has spurred along - especially when compared to the end of last year.
The difference between then and now has no doubt been interest rate cuts, which have stimulated a tremendous amount of confidence in the market and created the best market conditions we’ve seen for years.
Clearance rates are strong, sitting at over 75% (although the likes of Fitzroy, Carlton and Fairfield have been above 85%) and annual growth figures show properties in Melbourne’s inner north have grown by an average of 5.5%.
The influx of new buyers and rate cuts have also helped boost the apartment market, which is performing terrifically. Step back to 2014, the apartment market had moderate growth, but wasn’t performing as we’d hope. Come February this year, the reduction in the cash rate clearly spurred on more first home buyers – particularly young couples who are expecting a child – to dip their toes in the market. We’ve seen a rush of this cohort looking for inner north apartments which are not only affordable, but located in the heart of the action for youngsters. 
Looking forward, there’s predictions interest rates will remain low. However, whether these changes will continue to drive up demand for property is uncertain. Taking into consideration other factors at play in the economy – such as high unemployment rates and job cuts across various sectors in Victoria – it’s hard to forecast what the market will do in six months’ time.
For the next three months at least, a perfect storm has brewed for buyers and sellers alike. There’s a great selection of stock, strong appreciation, low borrowing conditions and ultimately great outcomes for vendors in Melbourne’s inner north. And it’s no doubt becoming an area for young families to call home.
ROB ELSOM is director of <a href="https://www.hockingstuart.com.au/" target="_blank">hockingstuart </a>Brunswick, Carlton, North Melbourne and Northcote.
 
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