New apartment supply has become increasingly constrained across <a href="https://www.apartments.com.au/developments/parramatta-nsw-2150">Parramatta</a> in recent years, with fewer projects progressing through to completion as development conditions have become more challenging.

It makes <a href="https://www.apartments.com.au/developers/novm">NOVM</a>'s 2021-completed <a href="https://www.apartments.com.au/buildings/the-lennox-parramatta-12-phillip-street-parramatta-nsw-2150">The Lennox</a> one of the most recently completed residential towers on the Parramatta River, and among the newest apartment developments in Sydney's second CBD.

With the project largely completed before the sharp escalation in construction costs and inflation following the pandemic, The Lennox is now offering pricing that would be difficult to replicate in a comparable new development in Parramatta today, or across much of Western Sydney.

The majority of the 413 apartments at The Lennox sold before and shortly after completion. A limited release of the remaining apartments has recently been brought to market by capital partner <a href="https://www.apartments.com.au/project-marketer/equitifund-group">Equitifund</a>, with entry-level pricing from $700,000 and two-bedroom apartments available from under $1 million.

Rising above the Parramatta River at 12 Phillip Street, The Lennox comprises one, two, three and four-bedroom apartments, appealing to first home buyers, young professionals, families, downsizers and interstate investors seeking a completed apartment in one of Australia's fastest-growing economic centres.

[smartcode_project:default project_id=5743 project_image_fid=372394]

Rather than positioning Parramatta as an alternative to Sydney's CBD, Equitifund believes the city has reached a point where it stands on its own merits.

"Parramatta is no longer simply an alternative to Sydney CBD, it's becoming a destination in its own right," Equitifund Executive Chairman Greg Huxley said.

"The Lennox captures that evolution with a level of quality and amenity that's difficult to match at its price point."

[smartcode_project:default project_id=5743 project_image_fid=953]

Designed by <a href="https://www.apartments.com.au/architects/marchese-partners">Marchese Partners</a>, the tower responds directly to its riverfront setting through expansive glazing and open-plan layouts that maximise views across the Parramatta River and city skyline. Interiors feature engineered timber flooring, stone benchtops, stainless steel appliances and floor-to-ceiling glazing, while generous balconies extend the living spaces outdoors.

Marchese Partners says the project was conceived to balance high-quality apartment living with practical, long-term functionality, pairing larger, efficient floorplans with amenities more commonly associated with five-star hotels.

That emphasis continues through the resident facilities, which include a 20-metre rooftop swimming pool, fully equipped gym and wellness spaces, full-time concierge, a residents' lounge, function room, private lifts, secure basement parking and rooftop communal areas overlooking the Parramatta River. Ground-floor boardwalk retail and dining further activate the riverfront and integrate the building into the surrounding public realm.

[smartcode_project:default project_id=5743 project_image_fid=925]

Australian housing and finance group Equitifund has secured the remaining apartments, believing there are few completed apartment opportunities in Parramatta that offer the same combination of location, amenity and pricing.

Equitifund National Sales Director Ben Hamblett says buyers are increasingly recognising that premium apartment living no longer needs to come with Sydney CBD pricing.

"The Lennox is where aspirational living becomes attainable," Hamblett said.

"Wake to river and mountain views, step into Sydney's Second CBD, and arrive home to resort-calibre amenities, all without the harbour price tag."

Hamblett says owner-occupiers are also attracted by the convenience of having Westfield Parramatta, Church Street's dining precinct, Parramatta Park, Riverside Theatres, Western Sydney University and major transport connections all within walking distance.

"At The Lennox, lifestyle is not an afterthought, it is the foundation."

[smartcode_project:default project_id=5743 project_image_fid=5374]

The Lennox places residents within walking distance of Parramatta Square, Westfield Parramatta, Church Street Eat Street, Parramatta Station, the ferry wharf, Light Rail, the future Sydney Metro West, Parramatta Park and CommBank Stadium, reinforcing Parramatta's position as one of Australia's most connected metropolitan centres outside Sydney's CBD.

Equitifund says buyers visiting the display suite consistently comment on the quality of the finishes, generous floorplans, river and skyline views, and the walkability of the location. The project has attracted a broad mix of local professionals, upsizers, downsizers, buyers relocating from Sydney's inner suburbs and interstate investors seeking long-term growth opportunities.

That demand aligns with Parramatta's continued evolution as an economic powerhouse. Equitifund Research and Market Insights specialist John Bekiaris says sustained population growth, infrastructure investment and expanding employment opportunities continue to support long-term housing demand across the city.

"Parramatta has evolved from a satellite city into one of Australia's most important economic centres. Population growth, infrastructure investment and employment are all supporting sustained long-term housing demand."

[smartcode_project_cta:default project_id=5743]

Joel Robinson

The apartment price gap drawing Sydney buyers west

A luxury beachfront apartment at Rainbow Bay has more than doubled in value since it sold off the plan six years ago, setting a new local apartment record in the process.

The three-bedroom apartment in the Flow development on Petrie Street, the first of four new projects locally by Paul Gedoun's S&amp;S Projects, has sold for $7.4 million, after originally selling for $3.27 million when the project launched in 2020.

The seventh-floor apartment, comprising 187 sqm of internal living space and a 54 sqm balcony overlooking Froggies Beach and Snapper Rocks, was purchased by a local family.

The transaction was negotiated by Pezet Matheson director Kerry Pezet and equates to more than $30,000 per sqm.

Pezet said the sale reflected the limited opportunities to buy into the boutique beachfront development.

"The sale highlights the rarity of opportunities within the boutique beachfront development, where residences seldom become available," Pezet said.

"Flow is one of the Gold Coast's most tightly held buildings. Buyers from our database move quickly when residences become available, and achieving an off-market sale at $7.4 million demonstrates the depth of demand for property of this calibre."

<img alt="Flow" data-entity-type="file" data-entity-uuid="c585b206-2130-4eee-a50c-3f27c51a7c70" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-07-06%20at%208.33.25%E2%80%AFPM.png?VersionId=m3pHRDV62Y3fvN.XQuQHq.52ilTWpRLf" />

Flow was the first of four luxury apartment developments delivered by Paul Gedoun's S&amp;S Projects at Rainbow Bay and was completed in 2023.

Positioned on the beachfront overlooking Snapper Rocks, the residence includes three bedrooms, three bathrooms, a powder room and views stretching north along the coastline towards Surfers Paradise.

Pezet Matheson Residential principal Mitchell Lambert said buyers continued to prioritise quality beachfront apartments in tightly held locations.

"Flow Residences offers a rare combination of elevated beachfront positioning, architectural excellence, comprehensive resident amenity and premium finishes, which is exactly what discerning purchasers are seeking," Lambert said.

"The transaction further reinforces Rainbow Bay's reputation as one of Australia's premier coastal lifestyle destinations, where limited supply and growing demand continue to support strong market performance."

Pezet Matheson originally marketed and sold out Flow off the plan, making the latest transaction a return to one of the project's original buyers.

Paul Gedoun is selling his third project, <a href="https://www.apartments.com.au/new-apartments/radia-rainbow-bay-271-boundary-street-coolangatta-qld-4225">Radia Rainbow Bay</a>, after recently completing, and selling out, <a href="https://www.apartments.com.au/buildings/esprit-217-227-boundary-street-coolangatta-qld-4225">Esprit</a>. He has plans for a <a href="https://www.apartments.com.au/news/qld/first-look-s-s-projects-proposes-88-apartment-wellness-tower-at-coolangattas-boundary-street">fourth building</a>, 88 apartments on <a href="https://www.apartments.com.au/new-apartments/209-213-boundary-street-coolangatta-qld-4225">Boundary Street</a>.

Rainbow Bay apartment doubles in price since off the plan sale during pandemic

The long-planned transformation of Brisbane's historic Shafston Estate has taken another major step, with Capella Hotel Group announced as the luxury hospitality partner behind what will become Brisbane's first branded residences.

The project, to be known as Capella Residences Brisbane, is being delivered by Verso Projects at the landmark Kangaroo Point riverfront estate, with completion targeted for 2029.

The announcement follows a series of planning changes to the project over recent years. The site was originally approved in 2023 for a 15-level, 37-apartment development designed by Rothelowman for Burgundy Group before Verso Projects took over the 10,070 sqm riverfront holding and lodged revised plans with Kerry Hill Architects to increase the development to a 25-level tower with 51 apartments.

The latest announcement confirms Capella Hotel Group will bring its branded residential offering to the project, marking just the second Capella Residences development globally after Seoul, and the group's first branded residential project in Australia.

The <a href="https://www.apartments.com.au/new-apartments/23-castlebar-street-kangaroo-point-qld-4169">Castlebar Street development</a> will centre around the restoration of the heritage-listed Shafston House, one of Brisbane's oldest residences, originally constructed in 1851 by Reverend Robert Creyke as a single-storey cottage known as Ravenscott.

<img alt="Capella" data-entity-type="file" data-entity-uuid="2b9f4ce5-638f-4d6b-8082-3ca7e4b75fca" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-07-09%20at%207.20.41%E2%80%AFAM.png?VersionId=f7aeqsW_DzOJI4FymWb3lD8NptSfsP7q" />

Capella said the project aligns with its focus on heritage-led developments, with the Brisbane estate combining the restored historic residence with a new luxury apartment tower and hospitality-inspired resident amenities.

Residents will have access to the Capella Living Room, a concierge-led communal space inspired by the group's luxury hotels, alongside landscaped gardens, six swimming pools, wellness and recreation facilities.

The broader estate will also include two riverfront homes, a six-berth private marina, porte cochère arrival experience, secure basement parking and a new section of public riverwalk along the Brisbane River frontage.

The heritage Postal Depot Building will also be retained and repurposed as a guest house, in line with the revised development plans.

The project represents another evolution for the site, which Kerry Hill Architects previously described as a rare opportunity to restore one of Brisbane's most significant heritage estates while creating a new benchmark for apartment living.

"The Shafston Estate provides a once-in-a-generation opportunity to restore one of Brisbane's finest heritage precincts and to reinstate residential use as a unique site perched on the edge of Kangaroo Point," Kerry Hill Architects said in its Urban Context Report accompanying the planning submission.

"The project will celebrate excellence in sub-tropical residential design, setting a new benchmark for vertical living in Brisbane."

Verso Projects, which now has an $8.5 billion development pipeline spanning more than 6,000 dwellings across apartments, townhouses, retail and commercial projects, said the partnership with Capella would elevate the development beyond a traditional residential project.

"We feel honoured to be restoring Shafston Estate to its former glory, elevating it to new heights of luxury and excellence underpinned by Capella's distinctive service ethos and design philosophy, and making it a standout landmark in Brisbane," Verso Projects CEO Steve Laffey said.

"By partnering with Capella, globally recognised for its refined approach to luxury hospitality and deep respect for cultural and historical context, we will elevate this project beyond a residential offering into a world-class destination."

Capella Hotel Group President Roland Fasel said Brisbane's emergence as a global city made it the right location for the company's Australian residential debut.

"Brisbane is a city on the cusp of something remarkable, and Capella Residences is our commitment to being part of that story," Fasel said.

"The Capella residential experience is more than luxury. It is about a sense of belonging to a place with deep meaning."

Private appointments have now opened for the project, with a display suite expected to open in late 2026 ahead of the planned 2029 completion.

Capella to launch Brisbane's first branded residences at Shafston House, Kangaroo Point

Lewis Land's latest apartment release within its <a href="https://www.apartments.com.au/new-apartments/harbour-shores-biggera-waters-564-oxley-drive-biggera-waters-qld-4216">Harbour Shores</a> masterplan is targeting one of the Gold Coast's fastest-growing buyer groups, with almost a third of apartments at Solis priced below $1 million.

The seven-storey building at Biggera Waters will comprise 91 apartments, including 24 one-bedroom residences starting from $778,000, a price point Lewis Land says is aimed squarely at first home buyers struggling to enter the Gold Coast market.

<img alt="Harbour Shires" data-entity-type="file" data-entity-uuid="e7486e37-22f6-4c92-b212-9b0622070b8f" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-07-08%20at%209.09.34%E2%80%AFAM.png?VersionId=W8MJwJUCf6HkIyl_EVSksnd.QI6MZryY" />

<a href="https://www.apartments.com.au/developers/lewis-land-group">Lewis Land</a> Head of Development Michael Long said the developer deliberately allocated a significant proportion of the project to more affordable apartment types.

"First home buyers have been priced out of many parts of the Gold Coast, and we saw a clear opportunity to address this and play our part in a longer-term housing solution," Long said.

"That's why 24 of the 91 apartments being delivered at Solis have been designed and priced for the city's next generation of homeowners, quality one-bedroom apartments, half of which include an additional multipurpose room to maximise space and flexibility.

"This approach places 30 per cent of apartments in Solis under $1 million, and with close proximity to Harbour Town's future light rail extension connecting residents to the city's major employment and knowledge hubs, it's a win for buyers looking to secure their first property."

<img alt="Sores" data-entity-type="file" data-entity-uuid="550526d3-73ba-4710-9739-c5f4294a30ef" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-07-08%20at%209.09.29%E2%80%AFAM.png?VersionId=cQQdXHt9wS0UXwZEm5Py5bH_3kAmzyhu" />

Designed by BDA Architecture, Solis will deliver a mix of one, two and three-bedroom apartments, with residences ranging up to 232 sqm. Apartments feature generous balconies and contemporary finishes, while residents will have access to Harbour Shores' lagoon pool, clubhouse, tennis court, gym, yoga studio and sauna.

The focus on first home buyers resonated with purchaser Holly Humphreys, who said she and her boyfriend spent more than a year searching for their first property before shifting their attention from houses to apartments.

"We fell in love with the first house we bid on and got our hopes up, but after repeated knockbacks we learned not to get too attached," Humphreys said.

"We offered at the high end of price guides, but sales kept going even higher. That's where we really struggled and we needed to re-evaluate our budget and our expectations. Standalone houses were off the table, and we pivoted to apartments and townhouses."

Humphreys said it was encouraging to see developers recognising the growing demand from first home buyers.

"There's a growing number of young buyers looking to enter the market earlier because they understand that getting in now can make a real difference as prices continue to rise," she said.

"It's fantastic to see a developer recognise this and then actively take measures to deliver an apartment with us in mind."

Solis is the first development planned within the second stage of the Harbour Shores masterplan, with early works expected to commence in September 2026.

[smartcode_project_cta:default project_id=113271]

Lewis Land targets first home buyers at latest Harbour Shores release, Solis

Luxury apartment developer Abadeen has recorded $19.25 million in apartment sales across two of its Lower North Shore developments in the lead-up to the end of the financial year, headlined by the sale of a $6.75 million penthouse at <a href="https://www.apartments.com.au/buildings/koyo-crows-nest-5-rodborough-avenue-crows-nest-nsw-2065">KOYO in Crows Nest.</a>

The transactions also included the sale of a newly completed three-bedroom apartment at <a href="https://www.apartments.com.au/buildings/park-residences-cremorne-2-sutherland-street-cremorne-nsw-2090">Park Residences in Cremorne</a> for $6.35 million, with the residence selling shortly after the project's first public inspections following completion.

The sales come as completed, owner-occupier-focused apartments continue to attract strong demand across Sydney's Lower North Shore, particularly from buyers looking for certainty and immediate occupancy.

The penthouse at KOYO spans 491 sqm across a single level and was designed by architect Koichi Takada. The development is one of Abadeen's flagship boutique projects in Crows Nest.

[smartcode_project:default project_id=108800 project_image_fid=370093]

Abadeen Executive Chairman and Founder Justin Brown said buyer activity lifted noticeably in the lead-up to the end of the financial year.

"We saw a clear increase in enquiry levels, inspection numbers and buyer engagement across our completed projects leading into the end of the financial year," Brown said.

"Buyers have become far more decisive over the past six months. The combination of improving confidence, limited supply and the ability to physically inspect completed residences is creating strong competition for premium apartments in the best locations."

Brown says the&nbsp;response to Park Residences following completion has been particularly strong.

"Buyers want certainty and are responding positively to the opportunity to walk through a finished product, inspect the quality firsthand and move in immediately," Brown suggested.

"Projects such as Park Residences and KOYO demonstrate that when the product is exceptional and the location is irreplaceable, buyers are prepared to act quickly."

[smartcode_project:default project_id=114246 project_image_fid=370116]

Abadeen CEO Joe Tack said quality continued to differentiate projects in the current market.

"Today's buyers are incredibly discerning," Tack said.

"They are seeking larger floorplans, premium finishes, walkability, lifestyle amenity and confidence in the developer delivering the project. Well-designed boutique developments continue to outperform because they offer something genuinely difficult to replace.

"The enquiry we are seeing across our completed and recently completed Lower North Shore portfolio is very encouraging, and we expect this momentum to continue into spring."

The sales follow increased enquiry across Abadeen's Lower North Shore portfolio which also includes <a href="https://www.apartments.com.au/buildings/northcote-collective-naremburn-2-northcote-street-naremburn-nsw-2065">Northcote Collective in Naremburn</a> which also completed recently.

KOYO penthouse headlines Abadeen's $19.25 million EOFY sales flurry

CBRE

<html><body>
Inner and metropolitan Melbourne is currently flush with development sites listed with the city's largest real estate firms, all of whom are still eager to cash in upon the favourable market factors allowing for consistently high sales prices.

A sweep through available listings sees scarce few truly blue-chip development sites on offer, but rather an abundance of noteworthy (some may argue secondary) development sites capable of handling a multitude of predominantly apartment projects. While development sites are always in demand, the increased number of permit approved development opportunities is also on the rise.

Seen below is an overview of what is currently on offer.

<h2>CBRE City Sales remain the dominant force</h2>

CBRE City Sales account for the majority of large development sites and schemes on offer. The most recent addition is 18 Moray Street on Southbank which has been offered for sale with a residential development scheme of 47 levels mooted over the 438sqm site. Also on Southbank and 57-59 Haig Street is also offered for sale, with an approved Bruce Henderson-designed 39 level apartment tower in tow.

Two additional heavyweight development sites are also under the guidance of CBRE City Sales; they being 596 St Kilda Road and 8 Claremont Street, South Yarra. Both plots are expected to see 20-odd level residential projects in due course.

Of the plethora of additional sites with CBRE City Sales up for grabs, a number stand out for differing reasons. <a href="/new-apartments/686-doncaster-doncaster">682-686 Doncaster Road Doncaster</a>, 808 Sydney Road Brunswick and 111 Canning Street North Melbourne are available with approved planning permits attached while <a href="/new-apartments/100-park-street-south-melbourne-vic-3205">100 Park Street South Melbourne</a> presents as one of the few projects which is available for purchase with significant apartment pre-sales in place. Developer 94 Feet has elected to move the site on.

Of the remaining CBRE City Sales listings 1234 Nepean Highway Cheltenham and 409 Spencer Street West Melbourne shape as likely residential plots capable of handling high-rise projects.

<figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/image94.jpg" rel="gallery-all" title="Assorted projects within the CBRE City Sales stable"><img alt="" class="image-article-full-width-580px" height="346" src="/sites/urban.melbourne/files/styles/article_full_width_580px/public/pictures/article-images/image94.jpg?itok=bCzHDi9D" title="Assorted projects within the CBRE City Sales stable" width="580"></a>

<figcaption>Assorted projects within the CBRE City Sales stable</figcaption></figure><h2>A clean slate</h2>

There is no shortage of traditional knock-down development sites on offer,although there'll be no knocking down of the first site shown below. Among Colliers healthy number of listings is 150 Oxford Street Collingwood. Covering 3,336.4sqm, the site sits within the Foy &amp; Gibson precinct and has been touted as a likely candidate for additional levels to be added above the existing structure.

Notable sites also with Colliers include 22-28 Courtney Street North Melbourne and The Millennium Site at 1000 La Trobe Street which has been <a href="/news/opportunity-arises-from-a-failed-digital-harbour-development">covered on Urban.com.au previously</a>.

<figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/image109_0.jpg" rel="gallery-all" title="Prospective development sites yet to enter the planning sphere"><img alt="" class="image-article-full-width-580px" height="435" src="/sites/urban.melbourne/files/styles/article_full_width_580px/public/pictures/article-images/image109_0.jpg?itok=QlvCWD9A" title="Prospective development sites yet to enter the planning sphere" width="580"></a>

<figcaption>Prospective development sites yet to enter the planning sphere</figcaption></figure>Fitzroys are offering 63-69 City Road Southbank with an indicative outline suggesting a slim tower in the vicinity of 200 metres is on the cards while JLL have listed 87-105 Racecourse Road North Melbourne. At 6,500sqm the site could accommodate multiple buildings in any chosen form.

Perhaps most interesting is 134-148 Little Lonsdale Street and 17-23 Bennetts Lane Melbourne with Mulcahy &amp; Co listing the 1,543sqm site. In what was once a low-rise precinct, the area has seen intense residential development including the completed 57-level Abode 318 and the proposed 52 level 141-149 La Trobe Street which backs on to Bennetts Lane.

<h2>Permit approved sites lessen the workload</h2>

<figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/image97.jpg" rel="gallery-all" title="a variety of approved development schemes currently on offer"><img alt="" class="image-article-full-width-580px" height="432" src="/sites/urban.melbourne/files/styles/article_full_width_580px/public/pictures/article-images/image97.jpg?itok=-bFDJr6I" title="a variety of approved development schemes currently on offer" width="580"></a>

<figcaption>a variety of approved development schemes currently on offer</figcaption></figure>The term 'flipping' has become quite prevalent of late, with negative connotations associated with the term in certain circles. It could be argued more often than not though the selling of permit approved development sites is generally the result of land owners realising the worth of their land, but also not having the financial means or experience to bring a given development to fruition.

Seen above are another five permit approved development sites currently available. Vinci Carbone have<a href="/developments/north-melbourne-vic-3051"> 3-5 Bedford Place North Melbourne</a> as being 'under contract' while Crabtrees' <a href="/buildings/chester-3-chesterville-road-cheltenham">3 Chesterville Road Cheltenham</a> is also available, involving 32 apartments within a six level development.

Others ready to go include <a href="/buildings/m-carnegie-316-neerim-road-carnegie">316-320 Neerim Road Carnegie</a>, 3-7 Noble Street Noble Park with 92 approved apartments, <a href="/new-apartments/53-earl-street-kew">53 Earl Street Kew </a>and 2-8 Barry Street, Brunswick. Combined these six projects could yield 282 if realised.
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silvermb

Development sites to the fore

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Recently Apartments.com.au <a href="/news/the-tannery-and-hopkins-street-launch-footscrays-joseph-road-precinct">broke the news</a> that <a href="/new-apartments/footscray-vic-3011">Footscray's</a> Joseph Road Precinct will begin its transformation into an inner-city residential enclave with the release of Riverina Apartments. Located less than five kilometres from Melbourne's CBD, Riverina Apartments also presents as developer AZX Group's vanguard Australian development, with further projects planned along the Eastern Seaboard.

<a href="http://www.cbresi.com.au/about/peopleDetails.aspx?ProfileID=29">Nic Cuni</a> as Director of CBRE's Residential Projects was on hand to guide Apartments.com.au through the now open display suite, providing an overview of <a href="/buildings/riverina-22-hopkins-street-footscray">Riverina Apartments</a> which has seen the project's first stage already garner strong sales.

<figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/img_2627.jpg" rel="gallery-all" title="Riverina's display suite model up close"><img alt="" class="image-article-full-width-580px" height="387" src="/sites/urban.melbourne/files/styles/article_full_width_580px/public/pictures/article-images/img_2627.jpg?itok=DX0kXXW_" title="Riverina's display suite model up close" width="580"></a>

<figcaption>Riverina's display suite model up close</figcaption></figure>Within close proximity to the <a href="/new-apartments/maribyrnong-vic-3032">Maribyrnong</a> River, Nic Cuni explains that the <a href="/architects/peddle-thorp-architects">Peddle Thorp-designed</a> complex will be split into stages. Initially available for purchase are apartments within the podium and buildings D, C and E; all of which which front Hopkins Street.

Subsequent stages will see the dual 31 level residential towers delivered, creating a heightened level of living to Footscray with unfettered views to all directions. Overall Riverina Apartments will provide in excess of 950 new dwellings while also delivering Melbourne's inner West with a highly visible marker.

To date Riverina Apartments' strong early sales has seen a considerable number accounted for over the available buildings, with a mix of domestic and overseas buyers securing apartments at competitive prices. One, two and three bedroom apartments are available with an entry point of $255,000, while four bedroom penthouses crowning each tower as seen above are also available.

<blockquote>
CBRE have just released Riviera to our Victorian database, only to receive the biggest response ever fielded. So much so we expect to sell out of stage one soon after our grand opening during July.

The market has understood the value proposition that Riverina offers, with Melbourne's affordability issues in part addressed by releasing apartments from $255,000.
<cite>Nic Cuni</cite>
</blockquote>

<figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/image239.jpg" rel="gallery-all" title="Representative kitchen and bedroom finishes"><img alt="" class="image-article-full-width-580px" height="256" src="/sites/urban.melbourne/files/styles/article_full_width_580px/public/pictures/article-images/image239.jpg?itok=8SPhYOwO" title="Representative kitchen and bedroom finishes" width="580"></a>

<figcaption>Representative kitchen and bedroom finishes</figcaption></figure>The display suite demonstrates the bright, open apartment format created by Peddle Thorp. Kitchens and bathrooms are simple, modern and convenient with an emphasis on functionality while bedrooms feature neutral tones.

Floor-to-ceiling windows and expansive living areas point toward the desire of the development team to create apartments that capture the maximum amount of light possible.

<blockquote>
We have addressed quality by using well known appliances and showcasing interiors designed by Peddle Thorp. Buyers get a unique opportunity to buy an exceptional apartment within five kilometres to the CBD from $255,000.

It's an opportunity to enjoy a high yielding investment that has huge growth potential and Riverina's mix of apartments will appeal to first home buyers, downsizers and the local area investor!
<cite>Nic Cuni</cite>
</blockquote>

A feature of Riverina Apartments will be an expansive internal courtyard which opens to Warde Street. Surrounded by hanging greenery, the courtyard and garden area headline project amenities which include rooftop entertainment and barbecue areas, rooftop swimming pool, sauna and spa, private dining/entertaining rooms and a gymnasium.

An activated ground level will see a slew of retail and entertainment options with the project maintaining frontage to four separate streets. Specialty and large-scale retailers will constitute the mix with a supermarket expected to underpin retail activities which stretch across the 9,500sqm site.

<figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/image237.jpg" rel="gallery-all" title="Riverina's penthouses with their distinctive exterior. Image courtesy CBRE"><img alt="" class="image-article-full-width-580px" height="330" src="/sites/urban.melbourne/files/styles/article_full_width_580px/public/pictures/article-images/image237.jpg?itok=UtzAGhvH" title="Riverina's penthouses with their distinctive exterior. Image courtesy CBRE" width="580"></a>

<figcaption>Riverina's penthouses with their distinctive exterior. Image courtesy CBRE</figcaption></figure>
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Footscray's Riverina Apartments powers ahead

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Property fund manager, Vantage Property Investments, has raised $17.6 million on an overall passing yield of 7.4% for three Victorian industrial assets in separate deals negotiated by Savills Australia in conjunction with CBRE.
The properties at Epping, Keysborough and Notting Hill, comprising four buildings – office/warehouses and showrooms - totalling 10,421 square metres on 23,475 square metres of land, were sold subject to five to ten year leases with an average WALE of 5.4 years and a combined rental income of $1.318 million.
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Vantage raises $17.6m with industrial portfolio sale

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Verde, the 12-story South Brisbane residential building will seek to embrace South East Queensland’s climate, with 82 environmentally sustainable, lifestyle friendly, spacious apartments.
Set 15 minutes walk from the centre of Brisbane, Verde will feature the largest vertical garden in Queensland as its centrepiece.
The north and south facing walls will be covered in 480 square metres of plants including herbs and succulents.
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"It’s my vision to help make Brisbane a greener city,” VCP Developments and Modern Architecture Practice spokesman Paul Obod said.
the 12-story building would embrace South East Queensland’s climate, with 82 environmentally sustainable, lifestyle friendly, spacious apartments.
“Verde blends cutting edge design, innovation and sought after luxuries including a rooftop infinity pool and an expansive barbeque and entertaining area.” 
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Verde is being marketed by CBRE Residential Projects director Jon Rivera, who will launch Verde to the market this month.
There are already 20 lodged expressions of interests from apartment buyers.
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“What’s unrealistic in the southern states is a reality in Brisbane and it all comes together at Verde.” 
Two bedroom, two bathroom apartments, with a carspace, start at $585,000, with three bedroom penthouses starting at $1.4 million. 
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Verde to feature Brisbane's largest vertical garden

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It was reported last week that developer Future Estate is the successful new owner of a vast tract of development land within Pentridge Village. Expected to fetch $30 million via a sales campaign held by CBRE, the final price tag was a <a href="http://www.afr.com/real-estate/commercial/developer-buys-last-pentridge-prison-sites-20150408-1mgkw9">reported</a> $27 million.

And for that price Future Estate now holds land reserves totalling approximately 41,000sqm, located 7.5 kilometres from the CBD. Covering twelve separate sites with the largest at 5,591sqm, the purchase allows Future Estate the opportunity to deliver multiple buildings over an elongated timeframe.

Included within the 41,000sqm plot are a handful existing/semi-completed retail spaces. The retail offerings are expected to be expanded within the development, in line with existing masterplan which seeks mixed-use outcomes for the land involved.

Pentridge Village hasn't been the only success for Future Estate of late with their current Melbourne apartment project selling strongly. <a href="/buildings/parc-vue-1091-plenty-road-bundoora">Parc Vue</a> at Bundoora Park has sold in excess of 85% of apartments within the first stage of the development, which will see 138 one and two bedroom apartments delivered over eight levels.

<figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/141112parcvueextb-1024x719.jpg" rel="gallery-all" title="Parc Vue Bundoora. Image courtesy MAP Architecture"><img alt="" class="image-article-full-width-580px" height="350" src="/sites/urban.melbourne/files/styles/article_full_width_580px/public/pictures/article-images/141112parcvueextb-1024x719.jpg?itok=-RbWRIHn" title="Parc Vue Bundoora. Image courtesy MAP Architecture" width="580"></a>

<figcaption>Parc Vue Bundoora. Image courtesy MAP Architecture</figcaption></figure>Designed by MAP Architecture, the project will upon completion see six buildings and 361 apartments built in middle-ring Bundoora, with ancillary commercial space totalling 1,100sqm included.

Gazing upon Pentridge Village once more, Future Estate's purchase joins a recently released apartment development in bolstering the until recently languishing precinct. Horizon Coburg is the first apartment release of any note for the precinct since the ill-fated <a href="http://architizer.com/projects/air-pentridge/">AIR Pentridge</a> tower the best part of five years ago which would have injected hundreds of apartments into the area.

<figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/coburg-high-rise-apartments-01.jpg" rel="gallery-all" title="Horizons Coburg. Image courtesy PRO_ARK"><img alt="" class="image-article-full-width-580px" height="327" src="/sites/urban.melbourne/files/styles/article_full_width_580px/public/pictures/article-images/coburg-high-rise-apartments-01.jpg?itok=n74dV2nH" title="Horizons Coburg. Image courtesy PRO_ARK" width="580"></a>

<figcaption>Horizons Coburg. Image courtesy PRO_ARK</figcaption></figure>Covered on Apartments.com.au at the turn of 2014, the then application on behalf of Taiwanese-backed Shayher Group sought to <a href="/news/h-division-likely-to-go-as-pentridges-rebirth-gathers-momentum">demolish the infamous H Division</a> within the prison grounds. With demolition now complete, civil works have commenced with the construction commencement on the radar.

Horizon Coburg seeks to add two and three bedroom apartments within two buildings.

On a wider note the stirring of Pentridge is in line with a general increase in planning activity throughout Coburg. Epworth Hospital are seeking to deliver <a href="http://www.heraldsun.com.au/leader/north/epworth-healthcare-launches-private-hospital-bid-on-moreland-council-land-bordered-by-bell-drummond-and-urquhart-streets/story-fnglenug-1227020120310">a new facility</a> fronting Bell Street, the long vacant <a href="/developments/coburg-vic-3058">81 Bell Street</a> is subject to a new 391 apartment project whilst <a href="/new-apartments/coburg-vic-3058">Major Anderson Apartments</a>' site demolition is complete with SP Projects poised to begin construction.
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Future Estate: The future of Pentridge Village

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Last week Meinhardt Australia held their <a href="http://practicalimagination.info/imagin8/skyscraper-trends-in-melbourne-from-super-skinny-to-prefabulous/">Skyscraper Trends In Melbourne: From Super Skinny To ‘Prefabulous’</a> seminar which brought together a select group of Melbourne's development industry elite to consider the influences shaping the future direction of Melbourne's built form. The latest in a string of successful seminars held under the <a href="http://practicalimagination.info/">Practical Imagination - imagin8</a> banner, Apartments.com.au was present to cover the informal yet highly relevant gathering.

Speakers included three Meinhardt representatives with National Director - Land Development Jon Brock commencing proceedings, Managing Director of CBRE Residential Projects Andrew Leoncelli and Hickory Group Joint Managing Director George Argyrou. All presentations gave a synopsis of the current Melbourne market from their respective positions and explored likely future trends and innovations.

Followed by a lengthy open forum discussing all matters relevant, the evening provided great insight into Melbourne's trend of building taller buildings, and the fundamentals/technologies that underpin it. While further in depth articles will appear on Apartments.com.au in coming weeks, the most pertinent information for Apartments.com.au's readers were within the presentations of Jon Brock and George Argyrou; summaries of both are found below.

<h2>Jon Brock: the Victorian town planning context</h2>

Leading off Jon Brock spoke of the context in which Melbourne's tall towers have been allowed to flourish, alluding to strong population growth and Plan Melbourne's focus upon urban renewal. Also sighted within the presentation was the Metropolitan Planning Authority (MPA) whose role was effectively described as Melbourne's "Tall tower decider."

Given Menhardt's extensive catalogue of projects, urban renewal areas such as Fishermans Bend and Arden-Macaulay were discussed at length with Jon Brock citing <a href="/new-apartments/60-82-johnson-street-south-melbourne">60-82 Johnson Street, South Melbourne</a> and 114-116 Haines Street, North Melbourne (seen below) as prime examples where negotiations with the relevant planning body let to agreed upon development outcomes that benefited all parties.

Paraphrasing Jon Brock in relation to 60-82 Johnson Street, no one particularly cared that an additional four levels were added to the tower, of primary concern is podium interaction and increased public space. Also discussed was Arden-Macaulay where higher density is envisaged, and likely to be implemented via the <a href="http://www.melbourne.vic.gov.au/BuildingandPlanning/Planning/planningschemeamendments/Pages/AmendmentC190.aspx">C190 amanedment</a> which has been delayed to a degree due to East West Link.

<figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/image137_1.jpg" rel="gallery-all" title="Images taken from Jon Brock's presentation"><img alt="" class="image-article-full-width-580px" height="317" src="/sites/urbanmelbourne.info/files/styles/article_full_width_580px/public/pictures/article-images/image137_1.jpg?itok=lKHDbQy0" title="Images taken from Jon Brock's presentation" width="580"></a>

<figcaption>Images taken from Jon Brock's presentation</figcaption></figure>Melbourne's new residential zones were also discussed, along with potential implications for existing high density areas due to tracts of land being locked away from redevelopment. Tips and pitfalls for successfully gaining project approval were also discussed in what was a comprehensive talk delivering a lot of otherwise unattainable information to the assembled audience.

A comprehensive overview of Jon Brock's presentation can be viewed online via the <a href="http://practicalimagination.info/wp-content/uploads/2014/10/imagin8_presentation-Tall-Buildings-3.pdf">practical imagination</a> website.

<h2>George Argyrou: Hickory Group leads the industry with HBS</h2>

Co-founder of Hickory Group and Managing Director George Argyrou was on hand to explain how Hickory has strived to make itself the industry leader in terms of pioneering new construction technologies. Providing a timeline of company achievements which includes the widespread use of Unitised Building, George Argyrou went on to speak of the unbridled success of Sync bathroom pods which now holds Australian orders in the thousands.

<figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/image134_0.jpg" rel="gallery-all" title="The Hickory Building Sytstem module. Image courtesy Hickory"><img alt="" class="image-article-full-width-580px" height="338" src="/sites/urbanmelbourne.info/files/styles/article_full_width_580px/public/pictures/article-images/image134_0.jpg?itok=ZWMW-VcY" title="The Hickory Building Sytstem module. Image courtesy Hickory" width="580"></a>

<figcaption>The Hickory Building Sytstem module. Image courtesy Hickory</figcaption></figure>While the Sync bathroom system goes from strength to strength, Hickory have devised a new unitised construction technique aimed purely at high-rise structures which they believe has the best tolerances and quality control of any construction method currently employed worldwide. Constructed offsite, the new <a href="http://www.hickory.com.au/what-we-do/our-systems/hickory-building-systems/">Hickory Building System</a> begins with an engineered concrete floor requiring no human intervention.

Load bearing columns, fully fitted wet areas and a building facade are subsequently applied in what resembles a manufacturing production line process. Trucked to site, the integrated system locks together and provides exceptional structural stability and enabling fit-out to quickly progress due to the pre-attached facade; a traditional poured lift well is a thing of the past.

As George Argyrou stated, "We've taken existing technology and turned it into the best in the world." Hickory have been designing schemes and validating engineering for high-rise towers in Melbourne with the expectation it will make its debut shortly.

<h2>Next imagin8 seminar</h2>

While further articles for Skyscraper Trends In Melbourne: From Super Skinny To ‘Prefabulous’ will appear shortly, Future imagin8 seminars will consider trends in the Higher Education and Retail sectors.

You can register your interest to receive information on these by emailing <a href="mailto:Emily.lau@meinhardtgroup.com?subject=upcoming%20imagin8%20seminar">Emily.lau@meinhardtgroup.com</a>.
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Meinhardt's 'Skyscraper Trends in Melbourne' seminar reviewed

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Traverse the inner city and you may notice a plethora of properties with 'For Sale' placarded over their frontage. The rise of Asian property developers in the Melbourne market has led to an unprecedented number of development sites offered for sale, with their owners expecting heightened returns as local and offshore developers jostle for premier pieces of real estate.

Market conditions are currently very receptive to new residential projects as tower after tower seem to find the necessary pre-sales to advance to construction. This is in part attributed to offshore buyers who view the Melbourne market as a safe investment, bolstering overall sales numbers. While there remains a slight concern over an excess of rental dwellings as many projects advancing to construction simultaneously, these projects are underpinned by strong sales to both local and overseas individual investors.

Consequently developers desire to invest in new sites and projects remains high, hence the heightened level of properties offered for sale as their owners look to cash in. Look no further than <a href="http://cbre.realcommercial.com.au/property-land+development-vic-south+melbourne-501120655" target="_blank">58-66 Dorcas Street</a> as a prime example. Subject to a planning application which has yet to receive endorsement, the owners have seen it fit to offer the site for sale in the hope of receiving a higher return than would normally be expected.

<figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/image4dorcas.jpg" rel="gallery-all" title="Image © Hayball"><img alt="" class="image-article-full-width-580px" height="435" src="/sites/urbanmelbourne.info/files/styles/article_full_width_580px/public/pictures/article-images/image4dorcas.jpg?itok=5Y30XBvp" title="Image © Hayball" width="580"></a>

<figcaption>Image © Hayball</figcaption></figure>Urban.com.au sourced Director for Retail Investments, Mark Wizel, from industry heavyweight CBRE for his thoughts on the topic:

<blockquote>
I think that a lot of land owners are responding to the increasingly growing appetite from offshore developers, mainly based in Singapore, China and Malaysia who are looking to deliver residential projects in a city which is quickly becoming regarded as one of international scale.

The emergence of Asian based buyers for apartments on an off the plan basis is also fuelling the confidence not only of offshore developers to secure land for new projects but also spurring on local developers who are looking to benefit from the same emerging trend in terms of off the plan apartment buyers. We anticipate continued supply of quality sites to come to the market between now and the end of the year.
<cite>Mark Wizel, Director for Retail Investments, CBRE</cite>
</blockquote>

Another factor attributing to the development site sales frenzy is the increased size of contemporary developments. The general consensus amongst local developers is that now more than ever development sites have the potential to yield maximum 'bang for buck.' Under the tenure of the current State Government, denser, taller approvals have become the norm; one only needs to consider the impressive number of 200 metre plus residential towers currently proposed/approved in Melbourne.

A perfect example is <a href="http://cbre.realcommercial.com.au/property-land+development-vic-southbank-501125211" target="_blank">51-65 Clarke Street</a> Southbank which is currently listed with CBRE for sale. 54 Clarke Street sits directly opposite (below left) and essentially forged the way in terms of setting a height precedent of 74 levels/244 metres for this pocket of Southbank. Where in the past 51-65 Clarke Street would likely have become just another 30-40 level Southbank apartment building, CBRE are marketing the site with the associated render (below right) which suggests the potential exists to deliver a 90 level residential monolith.

<figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/Image17_6.jpg" rel="gallery-all" title="Images © BKK Architects &amp; CBRE"><img alt="" class="image-article-full-width-580px" height="447" src="/sites/urbanmelbourne.info/files/styles/article_full_width_580px/public/pictures/article-images/Image17_6.jpg?itok=SyUXP3DI" title="Images © BKK Architects &amp; CBRE" width="580"></a>

<figcaption>Images © BKK Architects &amp; CBRE</figcaption></figure>Another case of an upsized development is that of <a href="http://www.realcommercial.com.au/property-land+development-vic-melbourne-501120543" target="_blank">110-112 Franklin Street</a> which was recently sold by CBRE to offshore interests. The associated, approved 12 level tower which included a compliment of hotel rooms now looks to be the subject of a far large residential tower. Point Architects have recently published images of what looks to be a tower in excess of 40 levels on the correlating site with 267 apartments proposed.

The design may or may not be intended for 110-112 Franklin Street, but it does demonstrate the general trend of developers seeking larger residential proposals which in turn explains why there's immense competition to secure these sites.

<figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/Image16_4.jpg" rel="gallery-all" title="Images © CBRE &amp; Point Architects"><img alt="" class="image-article-full-width-580px" height="281" src="/sites/urbanmelbourne.info/files/styles/article_full_width_580px/public/pictures/article-images/Image16_4.jpg?itok=_IhoI3tv" title="Images © CBRE &amp; Point Architects" width="580"></a>

<figcaption>Images © CBRE &amp; Point Architects</figcaption></figure>Voracious developers, strong local and overseas buyers underpinning sales demand, a shift in the paradigm toward higher density living, favourable local planning conditions and the lure of Melbourne itself; it all adds up to a perfect storm of factors heralding an unprecedented boom in apartment development. And those who own these development sites stand to gain handsomely.

With the market dynamics the way they are there's no reason why local and offshore developers won't continue to scrap it out for Melbourne real estate, producing sustained heightened sales and high returns for the vendor in the process.
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What's driving Melbourne's development site sales frenzy?

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The Melbourne property merry-go-round is in full swing with a plethora of development sites currently on offer. Insatiable Asian-backed development firms are providing stiff competition for local property firms as some prime pieces of Melbourne real estate are offered and dually snapped up.

Here are but five of the best on offer, some of which include approved development schemes.

<h2><a href="http://cbre.realcommercial.com.au/property-land+development-vic-flemington-501128167" target="_blank">1 Ascot Vale Road, Flemington</a></h2>

<a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/main%282%29.jpg" rel="gallery-all" title="Image © dKO Architects"><img alt="" class="image-article-full-width-580px" height="435" src="/sites/urbanmelbourne.info/files/styles/article_full_width_580px/public/pictures/article-images/main%282%29.jpg?itok=Mc08Deul" title="Image © dKO Architects" width="580"></a>

Formerly known as Equinox Felmington, the tower is the final incarnation following many previous attempts by the then owner including a considerably taller proposal. Located opposite Flemington Racecourse, the scheme sees 387 apartments approved over the 21 level complex.

Given its prime position and proximity to Greeenland Group's intended high-rise development, 1 Ascot Vale Road looks to be a juicy prospect.

<h2><a href="http://cbre.realcommercial.com.au/property-land+development-vic-melbourne-501140071" target="_blank">9 - 27 Downie Street, Melbourne</a></h2>

<a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/downie%20st.jpg" rel="gallery-all" title="Image courtesy CBRE"><img alt="" class="image-article-full-width-580px" height="435" src="/sites/urbanmelbourne.info/files/styles/article_full_width_580px/public/pictures/article-images/downie%20st.jpg?itok=D6uAEDSY" title="Image courtesy CBRE" width="580"></a>

Those with a long memory may recall this site was subject to a failed residential development a decade ago. Known as The Archer, the 35 level Edgard Pirrotta designed tower drew upon art-deco influences.

Approved at well beyond 100 metres in height, the then scheme gives an indication as to what can be expected now. 40 levels of residential living are not out of the question at 9-27 Downie Street.

<h2><a href="http://cbre.realcommercial.com.au/property-land+development-vic-southbank-501124939" target="_blank">47 City Road, Southbank</a></h2>

<a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/47cityrd.jpg" rel="gallery-all" title="Image courtesy CBRE"><img alt="" class="image-article-full-width-580px" height="435" src="/sites/urbanmelbourne.info/files/styles/article_full_width_580px/public/pictures/article-images/47cityrd.jpg?itok=svopl8o4" title="Image courtesy CBRE" width="580"></a>

Southbank continues to be a happy hunting ground for Asian-based developers, will 47 City Road follow suit? Nearby developers have pressed ahead with 40 level schemes, while certain sites allow for a far taller built form.

Expressions of interest closed during mid June, is there another grand announcement in the pipeline?

<h2><a href="http://cbre.realcommercial.com.au/property-land+development-vic-melbourne-501120611" target="_blank">466 Collins Street, Melbourne</a></h2>

<a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/Image14_5_0.jpg" rel="gallery-all" title="Image © Bates Smart"><img alt="" class="image-article-full-width-580px" height="357" src="/sites/urbanmelbourne.info/files/styles/article_full_width_580px/public/pictures/article-images/Image14_5_0.jpg?itok=ooRRmWOQ" title="Image © Bates Smart" width="580"></a>

Quoting CBRE, "466 Collins Street represents a unique opportunity to acquire an irreplaceable development site that occupies a prime location on Melbourne’s premier street. It is the only site on Collins Street with a permit to deliver a landmark tower, which comprises of approximately 29,000sqm over 55 levels that will surely become a new Melbourne icon."

One of the more intriguing, unique projects in Melbourne - a definite landmark.

<h2><a href="http://cbre.realcommercial.com.au/property-land+development-vic-melbourne-501120671" target="_blank">685 La Trobe Street, Melbourne</a></h2>

<a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/docks.jpg" rel="gallery-all" title="Image courtesy CBRE"><img alt="" class="image-article-full-width-580px" height="410" src="/sites/urbanmelbourne.info/files/styles/article_full_width_580px/public/pictures/article-images/docks.jpg?itok=-IBzVNQv" title="Image courtesy CBRE" width="580"></a>

Premier Capital Development have elected to sell their prized Docklands site after failing to land an anchor tenant for the approved Bates Smart commercial development.

With the adjoining site subject to a 90 metre planning application, the site is ripe for an enterprising developer to deliver possibly two substantial residential towers over the 4,411 square metre site. The adjoining M Docklands project is a prime example of a new Chinese-backed, Melbourne-based developer swooping on an increasingly rare Docklands land parcel to deliver a flagship project.
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Five of the best current development sites

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Sydney sublease market tide turns as office space availability halved

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Former Wallabies player Matt Dunning has joined CBRE as a senior negotiator in its South Sydney industrial team.
Dunning, who had a distinguished career playing for the Australian rugby union team between 2003 and 2010, previously worked as business development manager at Workarena Pty Ltd. 
CBRE said that his appointment would bolster the agency's presence in region.
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