<a href="https://www.apartments.com.au/developers/s-p-setia">SP Setia</a> has lodged plans for a $750 million, three-tower mixed-use precinct that would complete the long-running redevelopment of Carlton's former Carlton United Breweries site.

The proposal at <a href="https://www.apartments.com.au/new-apartments/185-195-queensberry-street-carlton-vic-3053">46-78 Bouverie Street and 185-195 Queensberry Street</a> spans a 6,468 sqm site, the last remaining undeveloped parcels within the former brewery's 2007 masterplan.

Designed by <a href="https://www.apartments.com.au/architects/cox-architecture">COX Architecture</a>, the development will comprise two purpose-built student accommodation towers and a third build-to-sell apartment tower above a shared commercial podium and basement.

Across the three towers, SP Setia is proposing 606 build-to-sell apartments and 1,499 student accommodation units containing 2,009 beds.

The apartments will sit in the tallest tower, which will rise nearly 200m and 55 storeys. It will become&nbsp;one of the more substantial new build-to-sell apartment projects at the northern edge of Melbourne's CBD.

The apartment mix is weighted toward smaller inner-city product, with 188 studios, 206 one-bedroom apartments, 192 two-bedroom apartments and 20 three-bedroom apartments

<img alt="First look: SP Setia plans three-tower finale for Carlton’s former CUB precinct" data-entity-type="file" data-entity-uuid="8271bc87-1b0a-41b7-ac73-a425ee375261" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/3_2.png?VersionId=G4lw23o90B1boX4k4dj7rdz2ZEajS9wy" />

Part of the precinct will be a large-scale&nbsp;3,684 sqm supermarket and a further 2,198 sqm of speciality retail, creating close to 5,900 sqm of new commercial space within the precinct.

But one of the biggest components of the proposal is what sits between the buildings.

Around 4,650 sqm, or roughly 72 per cent of the site, will be publicly accessible open space, incorporating plazas, pedestrian connections, landscaped laneways and retail spill-out areas.

The ground plane is intended to finally complete pedestrian connections envisaged when the CUB masterplan was first approved nearly two decades ago, stitching together Victoria Street, Queensberry Street, Bouverie Street and Swanston Street through the former brewery precinct.

Urbis said the development would "complete the CUB precinct", with the public realm providing important north-south and east-west connections through what is currently the final undeveloped portion of the masterplanned site.

SP Setia is also exploring a new linear park within the Bouverie Street road reserve, with the concept to be developed further with the City of Melbourne through the planning process.

The proposal is being pursued through the Victorian Government's Development Facilitation Program under Clause 53.23 for significant residential development with affordable housing.

The planning report acknowledges the proposed heights exceed those contemplated under the original Comprehensive Development Plan and masterplan, but argues the built-form context has changed considerably over the past two decades.

Urbis said the three towers would instead create a stepped transition between Carlton and the Hoddle Grid, rising progressively from the 94.1-metre Tower One along the Queensberry Street edge to the 199.44-metre Tower Three closer to the established CBD-scale buildings to the south.

<img alt="SP Setia" data-entity-type="file" data-entity-uuid="e885a07a-592c-40fc-bf82-e6dbaf32da54" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-21%20at%208.52.24%E2%80%AFAM.png?VersionId=7s_ErUkSKAdY1mAWp3GRZgMNCGtwhk5m" />

SP Setia plans to deliver the development across three stages.

Stage One would deliver the basement, podium and retail areas for the entire precinct alongside the first student tower. Tower Two would follow in Stage Two, before the 606-apartment Tower Three is delivered as the final stage.

If approved and delivered, the project would close out a redevelopment process that has been underway since the former brewery masterplan was approved in 2007, adding more than 2,600 student beds and apartments to a precinct already home to Swanston Central, the Barak Building, RMIT Design Hub and several large student accommodation developments.

&nbsp;

&nbsp;

Joel Robinson

SP Setia plans three-tower finale for Carlton’s former CUB precinct

Melbourne developer Lowe Living is seeking to add to its growing bayside apartment pipeline, filing plans for a boutique eight-residence development in tightly held Middle Park.

Lowe Living, which has built much of its development portfolio across Melbourne's affluent bayside and south-east suburbs, is behind the plans for the 730 sqm site at <a href="https://www.apartments.com.au/new-apartments/123-125-erskine-street-middle-park-vic-3206">123-125 Erskine Street</a>, just off Armstrong Street and within the Armstrong Street Neighbourhood Activity Centre.

The developer is seeking approval for a five-storey residential building above two basement levels, with just eight large-format apartments and 18 car spaces.

“This is a deliberately very different proposition for us,"&nbsp;Tim Lowe, Co-Founder of Lowe Living, said.

"Eight residences is exceptionally boutique, but that's precisely what this site calls for.

“There is a strong community in Middle Park and the surrounding suburbs who have spent decades building a life here. They no longer want the maintenance of a large period home, but they aren't prepared to compromise on space, quality or location. We think there is a real opportunity to capture that hyper local market. A site like this rarely comes to market.”

<img alt="Lowe " data-entity-type="file" data-entity-uuid="875fe572-0f14-4d90-9e11-55b28dd07731" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-21%20at%208.42.49%E2%80%AFAM.png?VersionId=GDNQRv9BfpR9r1zkZ5UDyUM4ZvpIksut" />

The low-density proposal has been designed by Cera Stribley and is being progressed through the Victorian Government's Great Design Fast Track pathway, having already secured eligibility from the Minister for Planning.

The Office of the Victorian Government Architect supported its eligibility after finding the proposal demonstrated consistency with the program's seven design principles, while the project's financial feasibility has also been independently confirmed by Invest Victoria.

The project is targeting the downsizer market, with the planning documents describing the homes as larger-format residences and noting the two penthouses could otherwise have been configured as four separate apartments.

<img alt="Lowe 2" data-entity-type="file" data-entity-uuid="60ab0987-2da6-4175-adac-315dcf6053c6" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-21%20at%208.43.15%E2%80%AFAM.png?VersionId=bOCPH0B2MFwlmaRW.TTCF9TzyifgVoQI" />

The site has dual frontage to Erskine Street and Canterbury Place and currently comprises a collection of commercial buildings used as offices, including a former heritage bakehouse, a former stable, a later gabled addition and a central courtyard.

It sits within the Commercial 1 Zone and the Armstrong Street Commercial Precinct heritage overlay, with the existing property classified as a contributory heritage place.

Heritage has subsequently played a significant role in Cera Stribley's design.

The front section of the former bakehouse facing Erskine Street will be retained, including its return walls, street-facing hipped roof and chimneys, while the Erskine Street façade and part of the western return wall of the former stable will also be incorporated into the new development.

Levels four and five will be set back five metres from the retained stable façade, while bricks removed through demolition are proposed to be salvaged and reused within the new building where possible.

<img alt="Lowe 3" data-entity-type="file" data-entity-uuid="e97927a9-a2de-4a0f-83b6-65451238abfa" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-21%20at%208.43.06%E2%80%AFAM.png?VersionId=VR44AChLrX9q1XPB9GvVQV.ALXXbe4gC" />

Rather than presenting as a single five-storey building to Erskine Street, Cera Stribley has broken the development into a series of distinct forms.

A three-storey infill element will sit between the retained bakehouse and stable façades, with the upper levels recessed behind the heritage fabric. Canterbury Place will similarly feature two three-storey podium forms, separated by a central pedestrian accessway, before the upper two levels step back from the street.

A pedestrian through-link will run through the centre of the project between Erskine Street and Canterbury Place, creating entrances from both sides of the site and introducing landscaping and communal areas through the ground plane.

Landscape architect Acre has designed planting across the ground level, private terraces and upper levels, including a feature canopy tree at level three and integrated planting and arbours across the level four terraces. Five existing Erskine Street trees are proposed to be retained.

Sustainability is also a significant component of the Great Design Fast Track application. The apartments are targeting an average eight-star NatHERS rating, with no residence below 6.5 stars, while the project has achieved a 75 per cent BESS score. Seven of the eight apartments are designed for cross-ventilation, with the remaining residence using mechanically assisted natural ventilation.

The plans also incorporate an 8kWp rooftop solar system, a 5,000-litre rainwater tank and infrastructure allowing future electric vehicle charging for every residence.

Lowe has a strong portfolio across Melbourne's blue-chip suburbs. They recently launched <a href="https://www.apartments.com.au/new-apartments/jardin-house-by-lowe-living-camberwell-335-camberwell-road-camberwell-vic-3124">Jardin House by Lowe Living</a> in Camberwell, their first development in the Stonnington LGA.

Lowe Living unveils Middle Park apartment development

Article summary

<ul data-end="888" data-start="289">
	<li data-end="442" data-section-id="8tsh6o" data-start="289">DVB Projects is preparing to launch its second Gold Coast apartment development, with demolition now underway at 137 Old Burleigh Road, Broadbeach.</li>
	<li data-end="573" data-section-id="1nyxl3e" data-start="443">The 34-level tower will comprise just 49 ultra-luxury residences, including half-floor, full-floor and penthouse apartments.</li>
	<li data-end="717" data-section-id="oiyimj" data-start="574">The launch follows strong demand at DVB's nearby Sea Glass project, which is more than 50 per cent sold and currently under construction.</li>
	<li data-end="888" data-section-id="epk9o9" data-start="718">The development adds to the transformation of Old Burleigh Road, with premium beachfront apartment projects continuing to reshape the tightly held Broadbeach strip.</li>
</ul>

<a href="https://www.apartments.com.au/developers/dvb-projects">DVB Projects</a> is preparing to launch its second Gold Coast apartment development, with demolition now underway on the Broadbeach site as the Sydney developer moves closer to bringing the ultra-luxury project to market.

The 34-level tower at <a href="https://www.apartments.com.au/new-apartments/137-old-burleigh-road-broadbeach-qld-4218">137 Old Burleigh Road</a> will comprise just 49 residences, ranging from half-floor apartments through to full-floor homes and a penthouse. The launch follows the strong sales performance of DVB's nearby Sea Glass development. More than half of the apartments at Sea Glass, on the other side of Broadbeach, have been snapped up, well ahead of its late 2027 completion

<img alt="DVB Projects to commence demolition on $320m Broadbeach luxury tower" data-entity-type="file" data-entity-uuid="2944b4be-c84e-4b54-8dc1-c712e76704c0" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/E02_Exterior_Street%20Level%20Entrance.jpg?VersionId=YoNig7pRdrE3HCue7sUj78LzJteeQf3H" />

The start of demolition at 137 Old Burleigh Road signals DVB Projects’ underlying confidence in the Gold Coast’s luxury beachside apartment sector.

“We see the Gold Coast as one of the most compelling lifestyle markets in Australia, particularly at the premium end where demand continues to deepen,” said Dean Brown, Managing Director of DVB.&nbsp;

“This project has been carefully designed to respond to that demand - delivering large-format residences with a level of quality, privacy and amenity that is still relatively rare in the apartment market on the beachside."

Brown says the site itself is "exceptional."

"Old Burleigh Road is one of the most tightly held beachfront strips, and opportunities to deliver a project of this scale and calibre in this location are extremely limited.”

<img alt="DVB Projects to commence demolition on $320m Broadbeach luxury tower" data-entity-type="file" data-entity-uuid="398f377a-c037-455e-9250-0c5e0d84c35b" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/I12_FF%20Balcony.jpg?VersionId=NwOiRWGMubR1c8wthuEfggklcja7al9." />

The project will comprise 40 half-floor residences of approximately 260 sqm, alongside eight full-floor residences spanning around 524 sqm.

A single penthouse will crown the building, featuring a private pool, barbecue area, indoor gym and dedicated entertaining spaces.

Residents will have access to a resort-style suite of amenities, including a 20-metre pool with daybeds, a gymnasium, hot and cold plunge pools, a sauna, and private residents’ lounge and dining facilities.

<img alt="DVB Projects to commence demolition on $320m Broadbeach luxury tower" data-entity-type="file" data-entity-uuid="d1642bb0-9a66-4427-a022-dfc0988c6287" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/A02_Pool%20to%20View.jpg?VersionId=c0IXPyn_Gp_Kn3XCwzMrqIVkAdCEwVXP" />

Sales agent Todd Matheson, of <a href="https://www.apartments.com.au/project-marketer/pezet-matheson">Pezet Matheson</a>, which is marketing both 137 Old Burleigh Road and Sea Glass, said 137 Old Burleigh Road would address a clear gap in the market for genuine luxury products.

“There are very few opportunities on the Gold Coast where buyers can secure a residence of this size and quality in a new building,” Matheson said.

“What we’re seeing is a growing cohort of downsizers and interstate buyers who still want space - they’re not willing to compromise on living area, entertaining or finishes.

“This project has been designed with that buyer in mind. It offers the scale of a home, combined with the convenience and security of apartment living, in one of the coast’s most desirable positions.”

<img alt="DVB Projects to commence demolition on $320m Broadbeach luxury tower" data-entity-type="file" data-entity-uuid="59aae0ca-5639-4320-8aca-d0bf60f48e43" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/E01_Exterior%20Hero.jpg?VersionId=DS8Zfy2WtgUEtdfe0TEUuf1W1GfcZq8S" />

Located on a 1,156 sqm site one block from the beachfront, the development will replace an ageing walk-up building and is expected to contribute to the ongoing transformation of the Old Burleigh Road strip into one of the Gold Coast’s most prestigious residential corridors.

With the development moving into the delivery phase, 137 Old Burleigh Road is slated to hit the market later this year.

[smartcode_project_cta:default project_id=145141]

DVB Projects to launch second Broadbeach apartment tower as demolition commences

<a data-end="327" data-is-only-node="" data-start="250" href="https://www.apartments.com.au/developers/norus-projects" rel="noopener" target="_new">Norus Developments</a> has lodged plans for a new apartment development in Clayton that would add further momentum to the suburb's emerging Green Street corridor.

Plans have been lodged for the consolidated site at <a href="https://www.apartments.com.au/new-apartments/1359-1365-centre-road-clayton-vic-3168">1359-1365 Centre Road</a>, where Norus is seeking approval for 218 apartments across a 12-storey apartment building designed by <a href="https://www.apartments.com.au/architects/life-architecture-and-urban-design">Life Architecture</a>.

The proposal sits within the Clayton Major Activity Centre at the threshold of the planned Green Street corridor, a landscaped pedestrian connection intended to improve links through the precinct towards Clayton Railway Station.

The development would replace the site's existing collection of low-scale residential and commercial buildings with a single consolidated building, introducing significantly greater housing density to this part of Centre Road.

A retail tenancy is proposed at ground level to activate the Centre Road frontage, accompanied by transparent street interfaces and landscaping intended to create a more pedestrian-focused edge to the development.

<img alt="First look: Norus Developments plans landscape-led apartment project for Clayton’s emerging Green Street" data-entity-type="file" data-entity-uuid="0a5a763a-d9e9-4253-af2f-88008de27ebf" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Clayton%20a.png?VersionId=S2WJJbat1XVkZwB9SnYtygirXgWHiklX" />

The building has been designed with stepped massing and upper-level setbacks to manage its transition towards surrounding residential properties. The planning report describes the approach as one that integrates the building into the landscape rather than treating landscaping as a secondary element.

"A strong landscape and public realm strategy underpins the proposal," Urbis states in the planning report.

"Public benefits include an affordable housing contribution, a new pocket park, generous landscaped setbacks, deep soil planting and integrated Water Sensitive Urban Design."

The report adds that these elements are intended to create "a permeable, pedestrian-focused ground plane that enhances walkability, supports urban cooling and reinforces the emerging Green Street character."

Biophilic and passive design principles extend through the residential levels, with planting, daylight, natural ventilation and views towards landscaped areas forming part of the amenity strategy.

Parking would be concentrated away from the public realm, with 145 car spaces proposed from the rear laneway rather than dominating the Centre Road frontage.

The proposal follows an extensive pre-application process with the City of Monash. Three formal meetings were held between the project team and Council from December 2025 to March 2026, with the scheme evolving through several concept iterations before the current design was lodged.

The project arrives as Clayton prepares for substantial change around its established activity centre and the wider Suburban Rail Loop precinct. Its position on Centre Road places the development within an existing concentration of shops, services and public transport, while the Green Street connection is intended to strengthen pedestrian access towards Clayton Railway Station.

First look: Norus plans landscape-led apartment project for Clayton’s emerging Green Street

<a href="https://www.apartments.com.au/developers/gardner-vaughan-group">Gardner Vaughan Group</a> has officially commenced construction on Bronze on Chevron, celebrating the sod turning of its first-ever Gold Coast development and marking a significant milestone in the company's continued expansion across South East Queensland.&nbsp;

Following the successful delivery of premium residential developments throughout Brisbane and the Sunshine Coast, <a href="https://www.apartments.com.au/new-apartments/bronze-on-chevron-8-mawarra-street-chevron-island-qld-4217">Bronze on Chevron</a> represents Gardner Vaughan Group's entry into the Gold Coast market. Bronze will deliver 119 one, two, three and four-bedroom apartments above two ground-level retail tenancies.

[smartcode_project:default project_id=107520 project_image_fid=367193]

The recent sod turning ceremony was attended by Deputy Mayor Mark Hammel, President of the Surfers Paradise Surf Life Saving Club, Cassandra Sedgman, project consultants, purchasers, project partners and invited guests to celebrate the commencement of construction.&nbsp;

Gardner Vaughan Group Chief Executive Officer Simon Betteridge said Bronze on Chevron represented an exciting new chapter for the business.&nbsp;

"We've spent almost four decades building homes that respond to the way people want to live, and we're excited to bring that experience to <a href="https://www.apartments.com.au/developments/chevron-island-qld-4217">Chevron Island</a>," Betteridge said.

"Bronze on Chevron is particularly significant because it marks Gardner Vaughan Group's first development on the Gold Coast following many successful projects across Brisbane and the Sunshine Coast."

[smartcode_project:default project_id=107520 project_image_fid=367183]

Betteridge said the ground breaking is a proud moment for the&nbsp;team and their purchasers, who can now see their future homes beginning to take shape.&nbsp;

"As both developer and builder, we're able to oversee every aspect of the project from design through to construction, ensuring the quality and attention to detail Gardner Vaughan Group has become renowned for."&nbsp;

Designed by acclaimed architectural practice <a href="https://www.apartments.com.au/architects/cottee-parker-architects">Cottee Parker</a>, Bronze on Chevron has been thoughtfully designed to complement Chevron Island's evolving streetscape while embracing its relaxed coastal lifestyle.

The development will offer generous residences with refined interiors, premium finishes and resort-style amenities, with completion anticipated in early 2029.&nbsp;

[smartcode_project_cta:default project_id=107520]

The development will offer generous residences with refined interiors, premium finishes and resort-style amenities, with completion anticipated in early 2029

Gardner Vaughan Group breaks ground on first Gold Coast development, Bronze on Chevron

CBRE

<html><body>
Pub investors searching for yield are shifting focus to Queensland’s market, according to CBRE’s H2 2017 Australia Pub Trends report.
CBRE hotels research manager Ben Martin-Henry said investors are being priced out and facing a lack of supply particularly in metropolitan New South Wales, so buyer attention is being drawn to south-eastern Queensland opportunities.
"However, the pub sector is one of the most tightly held in the country and it’s hard to find owners willing to part with prized assets,” Martin-Henry said. 
The report noted Newcastle has seen strong buyer interest recently, as has the Central Coast and Wollongong.
"Sales activity has increased noticeably, and yields have sharpened to around 9.5-10.5% for quality assets.”
In Victoria, buyers have been quick to snap up freehold and leasehold assets due to heated competition.
“Asset values have been relatively steady; however, larger operators keen on increasing market share are pushing values up by paying inflated prices to secure high-quality assets. Going-concern pubs have also grown in popularity, and as competition ramps up in 2018, this trend is likely to continue,” Henry said.
Freehold assets are currently achieving average yields circa 4.5-5.5%, while those in rural and regional areas achieve yields between 8-10%.
“Demand within the sector maintained its high levels during the second half of 2017 and is showing no signs of fading. 2018 is likely to see further tightening of yields along the eastern states, as the market reaches the peak of its current cycle,” Martin-Henry concluded.
Click here <a href="https://www.propertyobserver.com.au/images/2018/3/9/PUB%20NSW.jpg" target="_blank">to enlarge.</a>
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2018/3/9/PUB%20NSW.jpg" alt="">
 
Click here <a href="https://www.propertyobserver.com.au/images/2018/3/9/PUB%20VIC%20.jpg" target="_blank">to enlarge.</a>
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2018/3/9/PUB%20VIC%20.jpg" alt="">
Pub transaction yield spread, Queensland (pictured below).
 
 <img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2018/3/9/PUB%20QLD.jpg" alt="">
 
Pub transaction yield spread, WA (pictured below).
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2018/3/9/PUB%20WA.jpg" alt="">
CBRE Hotels director Paul Fraser said there had been a significant weight of capital moving north from New South Wales and Victoria as buyers search for quality pub assets at higher yields.  
</body></html>

j.ballantyne1990-6AQqhLzZaK

Hot pub sector and sharp yields drive investors to Queensland

<html><body>
It's not every day an intended project can lay claim to being the largest mixed-use development outside of Melbourne's CBD.

Clayton will soon enough host <a href="/buildings/m-city-2107-dandenong-road-clayton">M-City</a>, a massive project on a 35,000sqm site located at 2107-2125 Dandenong Road. Controlled by local developer Nick Saraceno for the best part of 25 years, the long-dormant site's new launch as M-City comes after previously being referred to as the Nova Centre.

Having been in the works for a decade, the state planning minister of the day became the approving authority for the project during 2009, with the green light granted thereafter.

Schiavello have since been enlisted as joint developer alongside Saraceno Group for M-City, which at the time of approval carried a price tag of $600 million.

<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/image36mc.jpg" rel="gallery-all" title="Artist's impression of M-City's first stage. Image: CBRE"><img alt="" class="image-article-full-width-580px" height="193" src="/sites/urban.melbourne/files/styles/article_full_width_580px/public/pictures/article-images/image36mc.jpg?itok=1VTiv6PW" title="Artist's impression of M-City's first stage. Image: CBRE" width="580"></a>

<figcaption>Artist's impression of M-City's first stage. Image: CBRE</figcaption></figure>Stage One of M-City sees 170 one, two and three bedroom apartments on offer, with apartment internals ranging between 46sqm and 102sqm. CBRE have been installed as the master sales agent.

Beyond the initial apartment release, three additional residential buildings are in the works, as is a 225-suite international hotel, 189 serviced apartments and a commercial office building. During planning the commercial aspect consisted of a seven-level office building containing approximately 13,000sqm of leasable space, although the final figure under the M-City banner is unclear.

Kmart and Woolworths have been earmarked as anchors for the sizeable retail portion of the mixed-use project, with a cinema complex also in the works.

Long serving project architects Buchan Group continue to oversee the project, tweaking the approved plans to create M-City. Amenities include the ubiquitous pool and gym, a landscaped rooftop garden, tennis facilities, open air games area and  BBQ space. M-City will also host a child care centre.

<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/image39_7.jpg" rel="gallery-all" title="Artist's impression of an M-City apartment interior. Image: CBRE"><img alt="" class="image-article-full-width-580px" height="257" src="/sites/urban.melbourne/files/styles/article_full_width_580px/public/pictures/article-images/image39_7.jpg?itok=-fVSMJTE" title="Artist's impression of an M-City apartment interior. Image: CBRE" width="580"></a>

<figcaption>Artist's impression of an M-City apartment interior. Image: CBRE</figcaption></figure>Such a scale of M-City, it has been listed as a stand-alone future activity centre within the Monash National Employment and Innovation Cluster.

In the middle of the Victorian Planning Authority's freshly released <a href="https://vpa-web.s3.amazonaws.com/wp-content/uploads/2017/03/Monash-NEIC-framework-plan_March2017_WEB.pdf">Draft Framework Plan</a> for the Monash Cluster, M-City will be surrounded by the largest concentration of jobs outside of the Melbourne's CBD. An ongoing target for a number of large commercial and institutional developments, Monash Cluster includes Monash University's ongoing transformation and the Frasers-backed 60,000sqm commercial development at <a href="/news/a-commercial-mini-city-beckons-as-melbournes-southeast-flourishes">254-294 Wellington Road, Mulgrave</a>.

Construction on M-City's first phase is slated to begin later this year, with an approximate construction timeframe of 18 months expected.
</body></html>

silvermb

Melbourne's largest mixed-use development outside the CBD lands in Clayton

<html><body>
Investors and developers looking to capitalise on Sydney's residential boom are now turning to townhouses as the product of choice.
The trend has emerged amid the state government's push to develop the 'missing middle' of NSW's housing sector. 
According to CBRE Metropolitan Investment team manager Xavier Rahme, investor demand had shifted over the past nine months from apartment development sites to those that could accommodate townhouse projects.
“Sydney's housing sector is significantly undersupplied in the middle market, which is driving investors and developers to secure parcels that can capitalise on this untapped area of the market,” Rahme explained.
“The NSW Government's recently launched Missing Middle Design Competition highlights the emphasis on this important sector of the market – with a shift away from apartments to medium density development,” he said.
Rahme cited the recent slowdown in growth of the residential unit market as the reason developer interest has spiked in townhouse development opportunities.
“Interest remains strong in apartment sites in blue-chip locations within 10-15km of the Sydney CBD and close proximity to train stations,” he said.
CBRE has transacted more than $48 million across five recent property sales throughout metropolitan Sydney, highlighting the increased demand for developable townhouse stock.
In Lindfield, a 2,719 sqm property at <a href="https://www.realestate.com.au/project/the-grove-lindfield-600015534" target="_blank">18-20 Bent Street</a> sold for $13 million. The property, which was purchased by a foreign buyer, has development approval for 16 townhouses.
A 1,006 sqm property at <a href="https://www.realcommercial.com.au/property-land+development-nsw-burwood-501862494" target="_blank">66-70 Stanley Street</a> in Burwood with development approval for 10 townhouses recently sold for $6 million, while in Turramurra a site earmarked for 15 townhouses sold for $8.05 million.
Other recent transactions include an undisclosed sale of a 10,005 sqm parcel at <a href="https://www.realestate.com.au/property/21-new-north-rocks-rd-north-rocks-nsw-2151" target="_blank">221 North Rocks Road</a> in North Rocks. The property has development approval for 50 houses.
“These recent townhouse development site sales demonstrate the strength in demand from developers for this type of stock, which is driven by the vigorous demand for 'missing middle' housing across Sydney,” Rahme added.
“Market feedback has indicated that banks and financial institutions are more enticed to lend on lower risk assets including townhouse developments, where pre-sales rates are particularly buoyant.”
 
</body></html>

CBRE says townhouse site sales lift as focus shifts to Sydney's middle market

<html><body>
CBRE's 2016 annual results reveals its pre-tax operating profit fell 30 percent in 2016.
Directors advised the reported pre-tax operating profit of $37,573,000 represents a 30.3 percent decrease on the 2015 reported pretax operating profit of $53,886,000.
The consolidated net profit of the estate agency after income tax was $24,909,000 down on the $36,910,000 in 2015.
The group revenue sat at $488 million, up only slightly on the $475 million of the 2015 calendar year.
<div title="Page 6">
<div>
<div>
EBITDA fell to $60,281,000 from $63,923,000. 
</div>
</div>
</div>
Trade receivables sit higher at $130 million.
There was no dividend paid or declared by the company, which employed 1870 staff, nor any significant changes in the state of affairs of the group.
CBRE Pty Limited is a private company domiciled in Australia.
The immediate parent entity of CBRE Pty Limited is Relam Amsterdam Holdings, and the ultimate parent entity of CBRE Pty Limited is CBRE Group, Inc. incorporated in the United States of America. 
Loans from related parties comprise loans provided by CBRE Luxembourg Finance for $17,237,000, up from $16,462,000 in 2015. 
The consolidated financial statements of CBRE Pty Limited, and its controlled entities for the financial year ended 31 December 2016 were lodged with ASIC this week, after being signed off by new board appointee Jamie Maione. 
CBRE advised an APAC operating entity sits under the CBRE Pty Ltd reporting group and a number of costs borne in that entity were related to financial adjustments in Asia (not Pacific).
After initial publication of the results on Property Observer, commentary was supplied from Ray Pittman, President &amp; CEO, Pacific who advised CBRE’s Pacific business recorded gross revenue growth of 7% in local currency in Q1 2017 relative to the corresponding quarter in 2016.
"This followed record revenue growth in the previous quarter and was against a backdrop of constrained capital markets activity in the institutional sector. 
"CBRE’s strong performance was driven by both our brokerage and professional services teams." 
He advised standouts included the performance of our Advisory &amp; Transaction Services business lines, with our industrial and office leasing teams recording particularly strong revenue growth of more than 70%. 
"Solid revenue growth was also recorded by our residential and commercial valuations businesses and by our Asset Services and Global Workplace Solutions teams," he said.
</body></html>

jchancellor-FAypfDUnLy

CBRE profit dives 30 percent

<html><body>
A parcel of 24 rural properties located in Victoria’s agricultural region of Colac Otway is being marketed by CBRE Agribusiness. 
Located between Geelong and Portland, the portfolio consists of properties ranging in size from 30 hectares to 240 hectares, including some harvested properties that will be available for purchase with vacant possession.
Comprising around 2,600ha of freehold land, it is currently planted to Eucalyptus Globulus.
CBRE’s Peter and Jarrod Ryan are marketed the properties. 
According to Peter, the portfolio represented an outstanding opportunity to acquire attractively priced land in a reliable, high rainfall agricultural region.
“Previous to its current use as a timber plantation, the properties were utilised for either high value dairy or grazing – and provide significant scope for reversion to these uses,” he said.
“Alternatively, post-harvest, the properties are suitable to replant to a range of timber species, with their location ideal for plantation management being situated within haulage range to export ports at Geelong and Portland, and also close to processing facilities at Colac, Geelong and Portland.”
The Otway Portfolio is being offered for sale either as a portfolio, individual properties or any combination to suit requirements.
Asset manager New Forests Asset Management is also seeking to enter into sale and leaseback arrangements with the purchaser, retaining management of the properties until the conclusion of each harvest.
</body></html>

Timber opportunity in prime Victorian forests

<html><body>
Significant land banking and value are set to be unlocked due to the major changes to Sydney's public transport and road network system.
Opportunities are likely to be added along major arterials across the city.
CBRE's Victor Sheu told SMH that the new WestConnex tunnel project would divert traffic flow and commuters from the M4, unlocking greater commercial opportunities in the city’s Inner West.
“Service stations are already among the most sought after commercial assets, with properties secured by five – ten year leases achieving record tight yields," Sheu said.
"This is further exemplified by the severe shortage of commercial investment properties readily available to satisfy the growing investment mandate across Sydney at present."
“With 16 service stations located along Parramatta Road, the current changes to the city’s infrastructure network present attractive investment and land banking opportunities – with these properties underpinned by strong underlying land values as well as long term leases for immediate income.”
Sheu said changes in the city’s transport network – coupled with the rise of sustainable energy – could prompt further changes in the service station sector.
“With more leading vehicle manufacturers taking a step towards alternate energy sources, introducing both hybrid and fuel-free models, there is likely to be decreased demand on petrol – and subsequently the stations that service them."
“Given service stations are currently trading at a market peak, we expect owners to look at reassessing the use of these assets – either looking at alternative commercial uses or expanding the service station model to incorporate more of a food and beverage element.”
Caltex has already expanded its service beyond the traditional service station offering, having recently partnered with breakfast cafe ‘The Foodary’.
“With service stations traditionally located on high exposure sites, there is a huge opportunity to expand the service station model to capitalise on the shifting business environment with a food and beverage component,” Sheu said.
“We’re likely to see more service stations adopt this strategy, in addition to some owners looking at re-evaluating their assets all together to maximize value.”
</body></html>

Sydney’s changing road network fuels major changes to service station market

<html><body>
CBRE has been appointed to unload an office building in the northern end of Melbourne’s St Kilda Road business precinct.
Located on the corner of St Kilda Road and Kings Way, the 420 St Kilda Road property comprises a 10-level office building leased to major covenants, including ANZ bank and APP Corporation.
An International Expressions of Interest campaign will be launched next month to promote the asset, which boasts 10,500sqm of net lettable space, on behalf of CEL Australia.
Over the past 24 months, the St Kilda Road office market has emerged as an attractive investment market, recording one of the highest rates of net effective rent growth nationwide of over 9%.
Commenting on the listing, CBRE’s Kiran Pillai remarked that the property was well positioned to capitalise on the continued strong demand from tenants for this location.
“Steady withdrawals of secondary space in St Kilda Road for conversion and redevelopment has underpinned incredibly strong tenant demand for space in the remaining prime grade buildings,” Pillai said.
“The property’s prime corner position at the northern end of the precinct, combined with an efficient floor plate allowing for an adaptive asset plan, will hold the asset in excellent stead long into the future.”
The location is expected to further benefit from the new Melbourne Metro Rail project with the Domain station to be located within around 300 metres of 420 St Kilda Road.
CBRE senior director Neva Courts added the St Kilda Road market had emerged as a key investment destination for domestic and offshore investors.
“420 St Kilda Road offers both security of income and growth in the short to medium term in addition to long term opportunities for the site, which could include a potential redevelopment to residential or hotel,” she explained.
Michael Ng, executive director of CEL Australia, said the sale of 420 St Kilda Road will allow CEL Australia to redeploy funds into our current development projects in Melbourne and Perth in order to seek higher returns. 
“We are also looking into new development and investment opportunities across key Australian cities.”
The 420 St Kilda Road property has come to the market after the recent sale of 5 Queens Road in late 2016, by Charter Hall’s Office Trust. The sale, also brokered by CBRE, represented a passing yield of 5.64% and capital value of $6,665/sqm.
</body></html>

CEL Australia lists prominent St. Kilda office tower

<html><body>
Melbourne’s Zagame Corporation is looking to cash in the chips on its Vanuatu-based Grand Hotel &amp; Casino at Port Vila.
Situated 10km from the airport at the heart of Port Vila’s business and entertainment precinct, the eight-level waterfront hotel offers a variety of income streams from its casino, accommodation and food &amp; beverage facilities.
Rob Cross and Andrew Jackson of CBRE Hotels have been appointed to steer the sales campaign, which closes 30 May 2017.
Cross explained that long time owners Zagame Corporation were selling the hotel and casino complex to focus on their extensive pub and accommodation interests in Australia.
“We’re expecting considerable interest, predominantly from Australian and New Zealand investors,” Cross said.
“The campaign provides an opportunity to acquire the best hotel and casino in Vanuatu, which is currently owner operated but is being offered with vacant possession. 
“While the hotel and casino has enjoyed trading growth in recent years, the introduction of a professional management company with a strong brand reputation could lead to further trading upside.”
Constructed in 2003, the four-star hotel overlooks Port Vila Harbour and offers views towards Iririki Island. The casino features 15 gaming tables and 136 slot machine, with a VIP top floor gaming room.
The hotel also contains a restaurant, conference rooms, four bars and pool and spa facilities.
Jackson added that investors were increasingly targeting leisure-oriented investment opportunities, given the tightly held nature of Australia’s CBD hotel markets.
“In the case of the Grand Hotel &amp; Casino, the property is poised to benefit from the Vanuatu Tourism and Infrastructure Project, which is funded by the New Zealand Aid Program,” Jackson noted.
“The project will concentrate on the rehabilitation of Port Vila’s seafront and the main wharf areas, providing a central pier observation platform, sea steps, a water taxi jetty, seawall promenade and walkways, markets buildings and playgrounds.” 
</body></html>

Zagame Corporation lists Vanuatu hotel and casino complex

<html><body>
Brisbane’s commercial property market is expected to rise on the radar of investors over the next two years as yield compression reaches its peak in Sydney and Melbourne.
That was one of the key outtakes of CBRE’s annual Brisbane Market Outlook presentation, which highlighted the continued outperformance of Australia’s south east property markets had compressed yields to their tightest levels.
CBRE’s Head of Research for Australia, Stephen McNabb, said strengthening drivers in the Brisbane economy, coupled with an attractive yield spread, would drive an increase in investment over the coming years.
“The gradual improvement of Queensland’s economy, which has been gaining momentum over the past 12 months, is making Brisbane look more attractive – particularly given the yield in prime assets of 6 percent – 6.5 percent.
Office vacancy is forecast to drop below 10 percent by the end of 2019, which will support rental growth and ultimately yield compression.”
The presentation also referenced CBRE’s latest Investors Intentions Survey – highlighting 30 percent of Asian investors list Australia as their preferred APAC destination for investment.
“As the Sydney and Melbourne markets reach their peak in terms of yield, investors are looking for new locations – in particular markets that offer a higher yield spread,” Mr McNabb said.
The presentation was followed by panel discussion with CBRE experts – key points from which are summarised below.
Mr Baker said Brisbane was well positioned to capitalise on a shift in the investment cycle over the next two years.
“When capital pours into a strong market like Sydney, which is reaching its limit in yield compression, it starts to point to alternative markets that offer attractive yield spreads such as Brisbane,” Mr Baker said. 
“A recovery in Brisbane’s office occupier market will further support the attraction of capital, in addition to an increasing population lending itself to a sustained economic recovery.”
Mr Lawrence said for most borrowers, debt had become more important to their purchase and investment decisions given the current tight lending conditions and low for longer outlook.
“Australian Banks are facing a number of constraints at the moment in terms of capital costs and limits, resources and APRA focus on their property exposures. 
Australia is unique in the market share that domestic banks have in terms of property funding so these constraints have a large effect on the market,” Mr Lawrence said.
“The constrained conditions, particularly for development funding, are creating opportunities for alternative lenders.
Importantly many of these groups have a different capital model than the domestic banks.
This allows funders to provide loans with a longer tenor or a different risk/return profile than Australian banks.”
CBRE has active relationships with more than 270 lenders worldwide and is engaging with a number of these to develop Australian loan programs.
“We are seeing a significant increase in offshore lender appetite for Australia - often for the same reason that equity investors are attracted to Australia.
These funders are in a position to grow their lending books and provide a more diverse range of loan products than domestic banks,” Mr Lawrence said. 
Ms Fitzgerald said in an environment of relatively limited growth, property owners needed to seek out opportunities to optimise their portfolios, taking into account the importance of placemaking and customer service.
“It’s about creating places people enjoy and more importantly want to return to.
"Places that help people manage their work life balance.
"To provide that point of difference, property owners need to think beyond end of trip and gym facilities – they need to get a lot more creative,” Ms Fitzgerald said. 
“We create real value in our assets by providing focus on the experience and service offering."
For example, in September and October landlords might want to partner with tax agents for two weeks to provide a tax return service within the building.
"It’s still paid for by tenant employees, but you have facilitated the convenience – you have helped make their work life balance easier.
"It’s about reducing the impact of distracting, mundane tasks, so that people can focus on their work when they are in the office, or spend time with their family and friends in personal time.”
Mr Curtain said there had been a major shift in the focus of placemaking in the office sector over the past decade.
“For a long time the responsibility sat with occupiers to provide collaboration zones and additional amenities within the tenancy NLA. 
Landlords have now taken up this challenge and are offering a wide range of services and amenities to ensure the needs of their occupants from early in morning until late at night are catered for.
Major corporate organisations want to provide their people with a workplace experience that offers the same benefits as a five-star hotel.
This includes a comprehensive food and beverage offering, gymnasium, conference facilities and personal concierge.
Importantly, these services and amenities enhance productivity, and provide settings for people to collaborate and recreate within the work environment.
Grocon/DEXUS’ recently completed 480 Queen Street is a great example of this in practice offering 11 different food and beverage options, childcare, rooftop entertainment terrace and gymnasium.”
</body></html>

Brisbane commercial landlords need to think beyond gym facilities 

<html><body>
Fife Capital has expanded its presence in Queensland’s industrial market, securing two facilities in the Brisbane suburb of Darra for $29.45 million.
CBRE’s Ed Bull and Cushman &amp; Wakefield’s Corey Bott negotiated the sale of 2642–2666 Ipswich Road on behalf of Cambooya Pty Ltd.
Comprising 9,732 square metres over two modern corporate industrial facilities, the property is securely leased to two tenants, including two ASX-listed subsidiaries – Ensign Services and Multispares Limited.
Bull said the formal on marketing campaign yielded over 50 enquiries due to the quality of the investment offering.  
"This opportunity to acquire a secure investment backed by majority ASX-listed subsidiaries drew interest from a vast pool of buyers, including local, domestic and foreign purchasers," Bull said.
"In addition to its attractive tenancy profile, the property also benefits from an enviable location in close proximity to the Ipswich Motorway – one of south east Queensland’s major arterial roads."
Covering a total site area of 23,463 square metres, the property is located in the heart of one of the industrial precinct, with the Ipswich Motorway upgrade and ConnectWest Business Park project attracting more tenants to the area.
"The western corridor is already one of Brisbane’s most sought after industrial precincts, with major tenants including Toll, Cascade, Australia Post and Coca Cola Amatil," Bott said.
"Ongoing projects in the area will continue to drive growth in this thriving precinct and subsequently fuel investment activity.”
Each tenancy comprises a mix of corporate accommodation over two levels and adjoining clear span warehouse, with roller door access and concrete hardstand areas.
 
</body></html>

CBRE

Editor's Picks

Have something to contribute?

Developments

New apartments

New townhouses

News

CBRE

Editor's Picks

Receive the latest news stories to your inbox

Have something to contribute?

Developments

New apartments

New townhouses

News