Builder-developer Urban Property Group (UPG) is continuing to expand into new markets. UPG is heading to the Hills District, where it is planning a 40-storey mixed use building near Castle Hill Metro Station.

They've gone down the favoured developer route of a State Significant Development Application, which should see developments approved within the space of nine months.

The tower will comprise 371 apartments, 42 of which will be affordable housing, above a ground-floor retail precinct at 16-20 Old Castle Hill Road, on the corner of Garthowen Crescent and within walking distance of Castle Hill Metro Station, an area identified for higher density under both local and state strategic planning frameworks.

Designed by <a href="https://www.apartments.com.au/architects/studiosc">Studio SC</a>, the tower would rise from a brick podium base, accommodating one retail tenancy and communal open space, before transitioning to a slender glazed residential form above. Six basement levels are proposed beneath the building to house parking and services.

<img alt="First Look: Urban Property unveils 40-storey mixed-use tower in Castle Hill with 371 homes and affordable housing component" data-entity-type="file" data-entity-uuid="08dc82f9-b826-4e18-8c60-4c90f7472317" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Appendix%20G%20%28b%29%20-%20Ground%20level%20render.jpg?VersionId=EOv1ly45k_Bc1F73C0hdwXSG4FVSTETt" />

“Castle Hill is undergoing a significant transformation, evolving from a traditionally low-rise suburban centre into a true metropolitan destination anchored by the Sydney Metro Northwest," the Architectural Design Report prepared by Studio SC noted.

The majority of apartments (194) will be two-bedrooms. 90 one-bedroom apartments are planned, 83 three-beds, and four four-bedroom apartments.

Studio SC’s design adopts a podium-and-tower composition, with warm-toned masonry at the lower levels intended to anchor the building within its streetscape context.

"At the podium, the architecture is anchored through solid brickwork in warm, earthy tones, reflecting the local sandstone formations and the natural colour palette of the surrounding hills," Studio SC added.

Above, the tower transitions to a lighter glass expression, articulated with fins and tonal variation to reduce visual bulk and respond to changing light conditions.

<img alt="First Look: Urban Property unveils 40-storey mixed-use tower in Castle Hill with 371 homes and affordable housing component" data-entity-type="file" data-entity-uuid="f13cb2ee-ebfc-4204-9aba-e2dbd9e5d4bd" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Appendix%20G%20%28a%29%20-%20Pool%20view.jpg?VersionId=Dnpusa.b5d6Nkx2clPlzWosDdh_1QW2V" />

Urban Property Group is one of Sydney's most active developers. They have projects currently under construction in Little Bay, Penrith, and Macquarie Park, with future projects earmarked for Wollongong.

Castle Hill has been one of the most popular suburbs for development across Sydney in the last five years, as developers scramble for land around the newly extended Sydney Metro.&nbsp;

Kassis Homes kicked it all off with Grand Reve, along with Deicorp who has delivered over 1,000 apartments in the area and continues to develop. The likes of Dubai-backed developer Arada will take to market their project in the coming months, while Masscon has just launched Avenue on Cadman Crescent.

Joel Robinson

First Look: Urban Property Group unveils 40-storey mixed-use tower in Castle Hill

One of the Gold Coast’s ‘bridesmaid suburbs’ is experiencing a wave of local suitors, with the latest sales figures from <a href="https://www.apartments.com.au/new-apartments/harbour-shores-biggera-waters-564-oxley-drive-biggera-waters-qld-4216">Harbour Shores</a> revealing over two thirds of buyers will be relocating from within a 5km average radius of the 16-hectare masterplan.&nbsp;

<a href="https://www.apartments.com.au/developers/lewis-land-group">Lewis Land</a> Head of Development Michael Long said the figures underlined a powerful shift for Biggera Waters that would reshape it into a thriving force behind the region’s growth corridor.&nbsp;

“We’ve seen a huge wave of interest from residents of Arundel, Paradise Point and Runaway Bay who recognise the urban transformation that is well underway here and want to be part of it,” Long said.&nbsp;

“Interestingly, 25 per cent of our Gold Coast buyers are also coming from the city’s southern hotspots, including Burleigh and Palm Beach.&nbsp;

“<a href="https://www.apartments.com.au/developments/biggera-waters-qld-4216">Biggera Waters</a>, and Harbour Shores in particular, has all the advantages of waterfront living with the benefits of resort-style amenity, for greater value than the southern beachfront suburbs.”&nbsp;

[smartcode_project:default project_id=113271 project_image_fid=290031]

Long said half of the purchasers at Harbour Shores were under the age of 55.&nbsp;

“When locals choose to stay local, it creates a genuine community, turning the most sustainable master planned community in the Gold Coast’s history into a diverse and vibrant ‘village of villages’.”&nbsp;

[smartcode_project:default project_id=113271 project_image_fid=336743]

<a href="https://www.apartments.com.au/project-marketer/colliers">Colliers</a> Gold Coast Sales Director David Higgins said the hyper-local market demand was unique to Harbour Shores when compared to other projects in the region.&nbsp;

“We are seeing as much as 60 per cent of new apartment sales on other projects go to interstate or international buyers, but Harbour Shores is bucking this trend and attracting a larger proportion of the local market,” Higgins said.&nbsp;

“Only 13 per cent of Harbour Shores’ existing purchasers are interstate. There has been a resounding endorsement from local buyers and that validates the project’s vision and investment in design, lifestyle and liveability.”&nbsp;

[smartcode_project:default project_id=113271 project_image_fid=4579]

Harbour Shores is 16ha visionary masterplan dedicated to wellness and an active, healthy lifestyle. Designed by <a href="https://www.apartments.com.au/architects/bda-architecture">BDA Architecture</a>, Harbour Shores embeds extensive green connections and more than 2.5km in pedestrian networks – including a 1.2km boardwalk along the water’s edge.

Harbour Shores was recently recognised by the BETTER FUTURE World Design Awards 2026 as a silver winner in the category of environmental sustainability. Boasting a 6 Star Green Star Communities V1.1 rating, Harbour Shores will deliver more than 2,000 homes over the next ten years.&nbsp;

The first stage will deliver three residential collections including luxury three and four-bedroom waterfront villas at The Residences, as well as apartments in The Waterline and Palm House, surrounded by resort-style amenities.&nbsp;

[smartcode_project_cta:default project_id=113271]

Biggera Waters no longer a 'bridesmaid suburb' as Gold Coast locals jump to Harbour Shores

Developer <a href="https://www.apartments.com.au/developers/ellipse-property-group">Ellipse Property</a> has officially launched Lily Lane, the second stage of its Carrington Place masterplan in Sydney’s North-West. The new stage will deliver over 200 apartments to the sought-after Hills District, supported by new retail and resident amenity.&nbsp;

Located near the Hills Showground Metro Station at 32 Carrington Road, Castle Hill, <a href="https://www.apartments.com.au/new-apartments/lily-lane-at-carrington-place-castle-hill-32-carrington-road-castle-hill-nsw-2154">Lily Lane</a> has launched with the release of 105 apartments.

Designed by award-winning architects <a href="https://www.apartments.com.au/architects/ptw">PTW</a>, Lily Lane comprises a combined total of 213 units over two 12-storey towers anchored by a ground-floor retail offering. A range of floorplan configurations are available including 67 one-bedroom, 100 two-bedroom and 46 three-bedroom apartments.

One-bedroom apartments are sized from 50-72 sqm with prices starting at $720,000, while two-bedrooms are priced from $960,000 with sizes ranging from 75 to 132 sqm. The three-bedroom floorplans are sized between 97 and 182 sqm, with prices starting at $1,350,000.&nbsp;

Six exclusive penthouses crown the Lily Lane towers, offering opulent interiors of up to 285 sqm. They are priced from $2.9 million.

[smartcode_project:default project_id=151821 project_image_fid=360285]

Blake Schulze, National Director – Residential at <a href="https://www.apartments.com.au/project-marketer/colliers">Colliers</a>, says Lily Lane builds on the sell-out success of Carrington Place’s first stage, Atrium.&nbsp;

“Lily Lane offers everything north-west buyers are seeking - including spacious, flexible floorplans with premium finishes and sweeping views of the Hills District to the north," Schulze said.

"Its central location brings residents even closer to Hills Showground Metro Station, with retail, dining, recreation and essential services at their fingertips.

Schulze says early enquiries reflect pent-up demand for Lily Lane’s three-bedroom and penthouse apartments, reinforcing the appetite for house-sized units in <a href="https://www.apartments.com.au/developments/castle-hill-nsw-2154">Castle Hill</a>,&nbsp;especially among downsizers.

Lily Lane has sought to incorporate features that are more&nbsp;traditional in freestanding homes. Over 75 per cent of residences include dedicated studies, multipurpose rooms or family rooms, with select layouts offering walk-in pantries and laundries.

Buyers have two interior colour schemes to choose from. ‘Breeze’ is a light-toned palette with warm timber accents, and ‘Dawn’ is a cooler mid-toned colourway.&nbsp;

[smartcode_project:default project_id=151821 project_image_fid=360572]

Apartments also feature premium Miele appliances, including ovens, washing machines, dryers, gas cooktops and dishwashers. Larger homes offer integrated Miele microwaves, Fisher &amp; Paykel integrated refrigerators and five-burner Miele cooktops.

Lily Lane’s ‘village-style’ architectural design is designed to maximise walkability and access to green space. Its two elegant towers are separated by a central landscaped laneway lined with lily plants, giving the project its name.&nbsp;

The towers will be crowned by rooftop terraces with BBQ areas offering views of the Hills District. Residents can also access a shared community room, complete with a fully equipped kitchen.

“As the gateway to the wider Carrington Place masterplan, this new stage delivers a premium experience,"&nbsp;said Puja Khanna, Associate Director – Design, Marketing and Sales at Ellipse Property.

"It features beautifully curated landscaping, refined interiors and architecture designed to maximise space, light and views. With a supermarket and essential services just minutes away, the addition of Lily Lane’s ground-floor retail will elevate everyday convenience and deliver a vibrant precinct for residents.”

[smartcode_project:default project_id=151821 project_image_fid=360286]

Lily Lane will be constructed by award-winning iCIRT-rated builder Decode Group, with construction to commence in mid-2026 and expected to complete early 2029.

Carrington Place comprises more than 800 apartments and is being delivered across multiple stages. Completion of the masterplan is expected in 2032. Integrated with neighbouring bushland, the project will feature over 20,000 square metres of outdoor recreational area, including a one-kilometre boardwalk to the nearby Fred Caterson Reserve.&nbsp;

The Hills Showground Metro Station is just a two-minute walk away, offering fast connectivity to Sydney’s CBD, North Sydney, Chatswood, Macquarie Park and Norwest Business Park.

[smartcode_project_cta:default project_id=151821]

Ellipse launches Lily Lane, stage two of Carrington Place

<a href="https://www.apartments.com.au/developers/one-global-capital">One Global Capital</a>, a Sydney-based global property development and investment firm, is set to transform a 1.4-hectare site in Five Dock into a $1.5 billion mixed-use precinct.

The integrated precinct is planned to include 750 apartments across five residential towers, a 150-key hotel, around 10,000 sqm of retail and lifestyle space, as well as health and wellness facilities, extensive landscaped open space, and community amenities.

Planning approval submission is targeted for June 2026.

One Global Capital Founder Iwan Sunito told Apartments.com.au that the Five Dock site, which he has owned for over two decades, is one of the best he's ever had.

"I probably hadn't appreciated the uniqueness of the site until more recently when putting together the concept plans," Sunito says.

"The proximity to the water, and the golf course opposite, is unlike any other part of Parramatta Road. We have a unique position and view corridors over the water that makes this one of the best sites I've worked on."

<img alt="Urban renewal in Five Dock via mixed-use precinct" data-entity-type="file" data-entity-uuid="76667592-c421-49f5-9ab8-45cfec815651" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Five%20Dock%201.png?VersionId=puhL_lSxd5IB5VA9fQKPsKHgmkinuwuI" />

Sunito said he wants to create a "city within a city", designing a multi-cultural precinct with the convenience of retail and public space at the forefront.

"We want to create a development that's not only to be seen, but to be experienced by the whole local community."

He adds that the Five Dock is emerging into a "really solid suburb", with the growth in&nbsp;the area continuing to be supported by rising residential values across the Canada Bay and Leichhardt local government areas, driven by major infrastructure investment and enhanced transport connectivity.&nbsp;

The new precinct will benefit from close proximity to a key transport network, including the Five Dock Metro Station, located approximately 1.1 kilometres from the site. The new Burwood Metro stop will be just 800m.

The project marks a renewed collaboration between Sunito and internationally acclaimed architect <a href="https://www.apartments.com.au/architects/koichi-takada-architects">Koichi Takada</a>, the creative partnership behind some of Sydney’s most recognisable residential landmarks, &nbsp;including Infinity, Arc, and Skye North Sydney.&nbsp;

<img alt="Urban renewal in Five Dock via mixed-use precinct" data-entity-type="file" data-entity-uuid="a9184a45-f429-4628-87ce-9bd6c70cb597" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Five%20Dock%202.png?VersionId=zJZRfLAZCkpww5VcmR_wgRXjoaSgPSyv" />

“The concept for this development is born from our design approach to naturalising architecture," Koichi Takada said.

"The public realm benefits from biophilic design that integrates generous landscaping, and the development is optimised &nbsp;for natural daylight, airflow and water views to foster wellbeing, sustainability and spaces that foster community interaction."

A key feature of the mixed-use development will be a lifestyle retail precinct, offering shopping and dining &nbsp;experiences - including a proposed state-of-the-art car showroom - as well as communal spaces for community &nbsp;use. Veteran retail and commercial property practitioner, Simon McTigue, has been engaged to consult on the &nbsp;delivery and leasing of the retail precinct, having previously worked on notable mixed-use projects such as East &nbsp;Village Shopping Centre in Zetland and South Village Shopping Centre Kirrawee, as well as other projects with &nbsp;Iwan Sunito in Green Square and Parramatta, to name a few.&nbsp;

“The Five Dock site offers a unique opportunity for retailers, conveniently located within easy walking distance &nbsp;of the metro station. On completion, the integrated precinct will provide the community with a new Inner West &nbsp;town centre, offering daily convenience via a proposed large format supermarket and fresh food precinct, as well &nbsp;as a restaurant and café district situated alongside key services such as a medical and health centre. It will be a &nbsp;place to live, work and play,” said Simon McTigue, Director of Wallaringa Consulting.&nbsp;

Samuel Sunito, Director of Capital at One Global Capital, confirmed strong inbound interest from both domestic and global investors seeking co-investment opportunities in the project. “We are currently engaging with &nbsp;investors both locally but also globally from Indonesia, the United States, China, Singapore, Vietnam, and Dubai &nbsp;to ensure alignment of vision and long-term value creation,” he said.&nbsp;

Investment participation will remain open until approximately Q2 2026, with equity allocations managed selectively.&nbsp;

“Equity available to the broader market will be limited, with priority given to long-standing capital partners. In terms of One Global Capital’s investment philosophy, we will continue to retain majority ownership, ensuring &nbsp;strong alignment of interests and preserving the long-term integrity of the project for all stakeholders,” Samuel &nbsp;said.

"A city within a city": Iwan Sunito flags $1.5 billion mixed-use precinct in Five Dock

Holiday home buyers who have long gravitated to Queenstown’s alpine setting are increasingly looking for low-maintenance apartments that allow them to lock up and leave, while still generating income when they’re away.

For Wendy, who had spent years visiting the Queenstown and Arrowtown region, <a href="https://www.apartments.com.au/developers/safari-group">Safari Group</a>’s Mountain Oak Apartments provided the opportunity to formalise what had previously been a recurring holiday pattern.

“We always had Queenstown in the back of our minds to buy something there as a holiday home,” she says. “We love the Queenstown and Arrowtown area.”

<img alt="From slopes to markets: Mountain Oak connects residents to the best of Queenstown" data-entity-type="" data-entity-uuid="" src="https://res.cloudinary.com/dz9xllyip/image/fetch/f_auto,c_limit,w_1440,q_auto/https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/field/image/658d4f_48c3ec1ae5df4a2cab7d23c07c7f51b3~mv2.jpg?VersionId=27K8oQ4ExDN8Yu70VHDa9Olq59XU36m3" />

Time spent visiting her sister-in-law, who owns in Arrowtown, along with regular stays at Millbrook Resort, had already shaped a strong personal connection to the region.&nbsp;

Rather than approaching the purchase purely as an investment play, Wendy’s starting point was lifestyle.

“We were more thinking about ourselves and where we could stay, and then the rental aspect was second.”

Mountain Oak Apartments, located within the masterplanned Remarkables Park precinct in Frankton, aligned with that thinking. The ability to secure the apartment with a deposit and settle on completion made the timing work.

“The fact that we could put a deposit down with the balance on completion was a bonus for us,” she explains.

<img alt="Safari Group’s Mountain Oak Apartments brings new investment potential to Queenstown" data-entity-type="" data-entity-uuid="" src="https://res.cloudinary.com/dz9xllyip/image/fetch/f_auto,c_limit,w_1440,q_auto/https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,dpr_2.0,q_auto:good/https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/313_Livingv2_WEB.jpg?VersionId=nV229fM0ZeYpoxOrX372HyGjfwY_LR8c" />

Wendy selected a two-bedroom, two-bathroom penthouse, a configuration that supports both private use and guest flexibility.

“The two-bedroom, two-bathroom configuration appealed from both a rental viewpoint and for the ability to have friends stay while we are there,” she says.

Across the development, two-bedroom apartments range from 64sqm to 78sqm, with two-bedroom plus flexi options from 71sqm to 75sqm, each with an allocated car park. The flexi layouts introduce an additional space suited to work or hobbies, reflecting demand from buyers who split their time between leisure and remote work.

Apartments include underfloor heating in bathrooms, heat pumps to living areas, and joinery positioned to maximise natural light and mountain outlooks. The Remarkables Park precinct is known for its extended winter sunshine hours, water frontage and open views toward The Remarkables.&nbsp;

Units come in light and dark interior colour schemes.

<img alt="Mountain Oak Apartments draws holiday home buyers to Queenstown" data-entity-type="file" data-entity-uuid="fd685a22-3b95-43a1-87cb-48fdd42bb4ba" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/658d4f_f9f89107c2704ebbbe5a6b36da508cb3~mv2.jpg?VersionId=MigFIEm6b.mrANANwxSmwHvC4RdJUuyR" />

While lifestyle was the primary driver, the fundamentals of the Queenstown market added reassurance.&nbsp;

“Proximity to the airport and tourism being the main attraction all year round,” Wendy says, when asked what stood out from an investment perspective.

Mountain Oak sits just eight kilometres from Queenstown’s CBD and around a two-minute drive from Queenstown Airport.&nbsp;

For Wendy, that airport proximity carries practical value.

“The airport proximity is a bonus, we think that being so close will be an attraction for the convenience side.”

Residents are also a short drive from Coronet Peak, Jack’s Point Golf Course, New World Supermarket, Five Mile Shopping Centre, and the dining, medical, gym, cinema and library amenities within the town centre, as well as the seasonal Remarkables Market.

Importantly, the purchase does not lock owners into a single use. Mountain Oak offers the flexibility to opt for short-term visitor accommodation or longer-term residential rental management, with 365-day visitor accommodation consent in place. Owners can utilise Safari Group’s 24/7 on-site management service or appoint their own provider, and do not need to decide on a strategy immediately.

“It was a bonus that we can rent it out as well as use it for ourselves,” she says.

Additional buying options, including furniture packages and storage units available for purchase within the building, further support a lock-and-leave model suited to interstate and overseas owners.

<img alt="Safari Group’s Mountain Oak Apartments brings new investment potential to Queenstown" data-entity-type="" data-entity-uuid="" src="https://res.cloudinary.com/dz9xllyip/image/fetch/f_auto,c_limit,w_1440,q_auto/https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/field/image/Ext_Cam15_Sunny.jpg?VersionId=SJAROUM_1s.Tr5ciMk4EEj5oAt_Vewmv" />

Mountain Oak Apartments comprises 141 residences, ranging from one-bedroom configurations through to larger apartments and penthouses. One-bedroom apartments are currently priced from NZ$639,000, with three-bedroom options from NZ$1,299,000.

With 365-day visitor accommodation consent, the development is structured to respond to Queenstown’s established four-season tourism economy, spanning winter ski traffic and summer hiking, cycling, golf and lake-based activity.

Although Wendy acknowledges the strength of rental demand, her approach remains long term.

“We’re not planning to sell it anytime soon, so we are keen to hang on to it, but the passive income will be a bonus.”

Confidence in the developer also influenced her decision. Before proceeding, Wendy sought feedback within the local building community.

“We asked around and Safari Group had a good reputation,” she says.

Safari Group has delivered more than 2,000 hotel units and residential apartments across over 18 developments nationwide, with more than 25 years’ experience in the sector.

With completion anticipated by mid-2027, Mountain Oak is attracting a cross-section of buyers, from yield-focused investors to lifestyle purchasers seeking a foothold in one of New Zealand’s most tightly held alpine markets.

For Wendy, it represents both a future holiday base and a long-term asset within Queenstown’s year-round tourism economy.

How Mountain Oak Apartments draws holiday home buyers to Queenstown

Charter Hall

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Charter Hall Group has put No.1 Brisbane, comprising three adjoining buildings - 217 George Street, 60 Queen Street and 231 George Street - up for sale.

The properties were acquired in July 2018 with a development approval for an 81 storey residential tower scheme. 

It cost $93.96 million when bought from the Blackstone-backed 151 Property Group.

Approval to build an apartment tower to rival Brisbane’s tallest in the prime location had been secured just a month before it was offered for sale.

Brisbane has a long list of skyscraper project completion including the city welcoming the highly anticipated Brisbane Skytower, which topped out at an impressive 274 metres. 

Outlook for Brisbane’s apartment market is on the positive side, as domestic migration is seen to continue pushing up buyer demand and consequently, property prices since the onset of the pandemic.

[smartcode_project:default project_id=90553]

Rather than pursue the residential tower, Charter Hall instead increased its office occupancy and secured another DA for a landmark, 34 storey, commercial office and retail tower designed by architects Blight Rayner.

The DA comprises a total of 24,490sqm (NLA) of office space and 2,150sqm (NLA) of ground floor and podium level prime retail space over 4 storeys as well as basement parking for 94 cars and 213 bikes.

Located at the corner of George Street and the southern end of Queen Street Mall, No.1 Brisbane is being marketed as well positioned to capitalise on the $13 billion of projects in the immediate precinct including Queens Wharf, Cross River Rail, Brisbane Live and the Brisbane Metro. Office tenants include leading corporate and government agencies including Santos, Suncorp, Brisbane City Council, Shell, Telstra and QSuper.

The building's sale campaign, is being handled by CBRE’s Bruce Baker, Peter Chapple, Tom Phipps and JLL’s Seb Turnbull and Paul Noonan.
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The properties were acquired in July 2018 with a development approval for an 81 storey residential tower scheme 

jchancellor

Charter Hall lists former Brisbane residential tower development site

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Charter Hall Group (Charter Hall or Group) has partnered with global real estate investor QuadReal, to acquire one of the largest remaining Brisbane CBD development sites, located within the heart of the North Quay renewal precinct.

This acquisition further extends the Charter Hall and QuadReal partnership following the 2019 $630 million acquisition of 201 Elizabeth Street, Sydney, by securing an underdeveloped site and providing optionality for two simultaneously submitted planning applications, which propose either a twin or single tower development.

Charter Hall Managing Director and Group CEO, Mr David Harrison, said “We are delighted to extend our relationship with QuadReal, one of Canada’s largest property groups."

QuadReal Head of Asia, Mr Peter Kim, said “Australia remains a key focus for QuadReal, and the North Quay investment is a direct product of the long-term strategic relationship we have with Charter Hall in that market."

Charter Hall has taken a flexible approach and lodged two Development Applications (DAs) with Brisbane City Council for 309 North Quay — a significant, 6,400sqm infill site located in the Roma Street Urban Renewal Priority Development Area. This development will further enhance the North Quay precinct of the CBD as it undergoes significant revitalisation. 

The proposed project, which comprises a DA for a single 50,000sqm commercial tower and a separate DA for two smaller commercial towers of 23,000 sqm &amp; 36,000 sqm each, will act as a catalyst for urban renewal of the surrounding sites, including Roma Street Station — Brisbane’s new ‘Grand Central Station’ made possible with Cross River Rail, Brisbane Metro and the proposed Brisbane Live the city’s new entertainment arena. 

The strategically positioned site and previous long-term home of Triple M and B105, is the gateway into the CBD from Coronation Drive, North Quay and the William Jolly Bridge, with uninterrupted views of the Brisbane River and a short walk to the city’s leading entertainment, dining and lifestyle precincts including Queen Street Mall, Suncorp Stadium, The Barracks, Roma Street Parklands, the Queensland Cultural Centre and South Bank.
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Charter Hall has acquired one of the largest remaining Brisbane CBD development sites, located within the heart of the North Quay renewal precinct

jordan_55689

Charter Hall submits DAs for Brisbane CBD riverfront site

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Charter Hall has acquired a 43,000 square metre facility in Western Sydney for $115,000,000.
It was bought from Melbourne based private investment firm Kador Group.
Located in Erskine Park, 40-66 Lockwood Road is leased to workplace solutions supplier Winc Australia for 12 years from August 2020 on a net rent of $5.175 million per annum, with 3.25 per cent annual increases.  
With a gross lettable area of 43,085 square metres on an 8.273 hectare site, the property is zoned IN1 General Industrial and offers 40,000 square metres of warehouse accommodation and 3,000 square metres of office space, split across two floors.
The property also benefits from two truck access driveways and all-weather super awnings located along both the eastern and western elevations.
The transaction was handled by Savills Industrial and Logistics Investments team of Michael Fenton, Michael Wall, and Alison Spiteri.
The property is approximately 47kms west of the Sydney CBD. Surrounding occupiers include TNT Express, Strandbags, Bevchain, Coles, Bluescope, DHL and Linfox.
 
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j.ballantyne1990-6AQqhLzZaK

Charter Hall acquires Western Sydney facility for $115,000,000

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Charter Hall has just been granted approval by the City of Melbourne to commence demolition of the building which currently stands at 555 Collins Street. The approval follows the lodgement of the proposal of a $1.5 billion redevelopment last month. The prominent corner section is one of the last of its kind in the area, spanning 4,620 square meters of prime real estate on Collins Street. A commercial tower designed by Cox Architecture and Gensler is on the cards and will draw on extensive research to produce revolutionary workspaces, utilising modern technology and human-centric design.

<blockquote>
“We are looking at the project from a people-first point of view and leading with humanistic design, ensuring that the human experience is at the heart of every design decision that we make. Key to this approach is our appointment of both Cox Architecture and Gensler. Together, our expertise will allow us to create a workplace designed for how people connect and engage with each other and with their surroundings. By truly understanding the tenant journey, we will create a space that encourages an instinctive way of working and ultimately, a better and more productive workday.”
</blockquote>

Simon Stockfeld, Charter Hall’s Regional Development Director

Tier one contractor Delta Group has been appointed to undertake the demolition which will cost approximately $13 million. Once demolition is complete, the first phase of redevelopment will involve the construction of 35 levels of premium office space across 45,000 square metres. The goal is to create work environments which are engaging and inviting, as well as seamlessly integrated within the area’s surrounding CBD environment.

<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/555c_collins_st_1.jpg" rel="gallery-all" title="Render for 555 Collins Street"><img alt="" class="image-article-full-width-580px" height="750" src="/s3/files/styles/article_full_width_580px/public/pictures/article-images/555c_collins_st_1.jpg?itok=lXodLzsW" title="Render for 555 Collins Street" width="580"></a>

<figcaption>Render for 555 Collins Street</figcaption></figure>The development will aim to target a number of sustainable certifications including a 6 Star Green Star rating, 5 Star NABERS Energy Rating and Platinum WELL certification – in pursuit of creating one of the city’s most sustainable office buildings. The building will also contain a state-of-the-art health and wellbeing offering as well as a premium retail hub with a curated selection of restaurants and bars.

The team are currently preparing for demolition with completion slated for mid-2022.

<h2>WHAT THEY SAY</h2>

<blockquote>
“The existing 555 Collins Street building is vacant, allowing us to hit the accelerator to meet completion deadlines. Projects which do not have to consider heritage and have a strong planning case also provides future tenants with far higher development delivery certainty.”
</blockquote>

Simon Stockfeld, Charter Hall’s Regional Development Director

<blockquote>
“We are proud to be partnering with Charter Hall as they work to create a next-generation workplace experience, in the heart of Melbourne. With the workplace evolving at a much greater pace than ever before, our extensive experience designing office buildings and innovative workplace environments for a variety of clients around the world has given us a unique insight into what people – and especially the younger, tech-savvy generations – truly want and need from their workplace and the companies that employ them.”
</blockquote>

Lukasz Platkowski, Design Director at Gensler’s London office

<blockquote>
“Cox Architecture are genuinely excited about collaborating with Gensler to bring 555 Collins Street to life. Our client, Charter Hall, have a vision to authentically connect people, place, and work, and together we feel that 555 Collins Street will truly represent the new way of working in the city.”
</blockquote>

Simon Haussegger, Director at Cox Architecture
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Olivia Round

Charter Hall gets green light to redevelop coveted Collins Street site

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Charter Hall has announced it has submitted a planning application for a $1.5 billion office development at 555 Collins Street, Melbourne via its Prime Office Fund (CPOF). Charter Hall acquired the site in October 2018 from previous owner Fragrance Group, who failed to get its 46-storey apartment tower off the ground. 

Located on the prominent corner of Collins and King Street, the 555 Collins Street development occupies a 4,620 sqm site with almost 50m of frontage along Collins Street and 100m of frontage to King Street including the 
adjoining CPOF owned 55 King Street.

Pending development approval and tenant pre-commitments, the combined site provides a unique opportunity for CPOF to stage a redevelopment across the two parcels of land, with a separate application for demolition of the existing Enterprise House on site already submitted.

<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/555c_collins_st.jpg" rel="gallery-all" title="555 Collins Street. Image: Charter Hall"><img alt="" class="image-article-full-width-580px" height="750" src="/s3/files/styles/article_full_width_580px/public/pictures/article-images/555c_collins_st.jpg?itok=Lmp3-XxX" title="555 Collins Street. Image: Charter Hall" width="580"></a>

<figcaption>555 Collins Street. Image: Charter Hall</figcaption></figure>Charter Hall has engaged local architects Cox Architecture to partner with global design and architecture firm, Gensler on the project. The collaboration brings together the partners’ innate local knowledge with a unique global viewpoint of leading workspace design trends. 
According to Charter Hall, the new commercial tower and future precinct represents a rare opportunity to create a lasting legacy of premium grade office buildings in a pivotal location.

Stage 1 of the proposed redevelopment will deliver approximately 45,000 sqm of Premium Grade, technology-enabled office space spanning 35 levels.

The proposed design includes an activated ground plane with connections between Collins Street, King street and Flinders Lane, a premium retail hub with food and beverage outlets and a landmark health and wellbeing offering.

The building will be one of the city’s most sustainable office buildings, targeting 6 Star Green Star, 5 Star NABERS Energy and Platinum WELL certification.

Cox Architecture and Gensler's vision for the precinct responds to a simple question; "what makes a great building?" In responding to this, the development team have taken a people-first approach at 555 Collins Street  - ensuring it becomes a statement of values and beliefs, designed to unlock the full potential of its tenants.

Charter Hall has appointed JLL and Colliers as conjunctional leasing agents for the project, with completion targeted for mid-2022.

<h2>What they say...</h2>

<blockquote>
“Our approach to workplace design is entrenched in extensive research into what tenants truly want and need, now and in the future. Through this people-centric approach, we are committed to creating workplace experiences which are designed to foster community, an instinctive way of working and ultimately result in a better workday for our tenant customers.

The vision for the site is to create a workplace experience like no other, where people will feel connected, inspired and engaged with their working day, and we are excited by this innovative methodology and how this development will shape the future of workplace.” 

- Simon Stockfeld, Charter Hall’s Regional Development Director
</blockquote>

 

<blockquote>
“CPOF is actively growing its existing $5.4 billion portfolio of high quality assets. A redeveloped 555 Collins will further enhance CPOF’s portfolio quality and total return metrics and deliver our Fund investors a coveted new Premium Grade office building in the tightly held western core of Melbourne’s CBD, a location favoured by major corporate, legal and government occupiers.” 

-  Matthew Brown, CPOF Fund Manager
</blockquote>
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Laurence Dragomir

Charter Hall unveils $1.5 billion redevelopment of 555 Collins Street

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Construction Equipment Australia (CEA) have committed to a 12-year lease on a new $27 million facility in Leppington, a suburb in south-west Sydney.
The Australian machinery distributer will be leasing a space within the Bringelly Business Hub being developed in Joint Venture by Charter Hall and ESR CIP, a wholly owned subsidiary of ESR.
The facility is set on a total of 22,000 square metres, comprising a combined gross lettable area of 7,763 square metres.
It will house a workshop, warehouse and operational areas, including 1,575 square metres for a showroom space.
Hylton Taylor, Chief Executive Officer for CEA, said "the prime locale of the facility will allow CEA to play a key role in providing construction machinery to the projects contributing to the fast-paced development of Western Sydney".
The design and procurement of the facility has been overseen by specialist supply chain and property consultancy firm, TM Insight.
The firm will also project manage the construction of the building and help with the transitionary period.
ESR Australia CEO Philip Pearce stated: “ESR is please to secure a customer of the quality of CEA as the first commitment to Bringelly Business Hub, which is planned to be a landmark park in a growing precent of south Western Sydney with a built out area in excess of 80,000 square metres with end value of circa $120 million.”
The warehouse is aiming to achieve a five-star energy rating through use of solar technology, water recycling and responsible resourcing of materials. 
CEA expects the facility to be operational in October 2019.
 
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CEA commit to 12 year lease in new $27 million Leppington facility

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<a href="/news/555-collins-street-continues-the-commercial-theme-for-2018">Late last year</a>, we penned a piece highlighting the changing nature of development and application activity within the Melbourne CBD. This followed from the announcement that Charter Hall had secured 555 Collins Street from Fragrance Group for a lazy 140 million dollarydoos, adding it to its portfolio which also includes the adjoining site at 55 King Street, resulting in a development site of 4,627 sqm,

As indicated in the article, applying a Plot Ratio of 18:1 would allow for a developable Gross Floor Area of 83,286sqm or approximately 67,000sqm NLA.

Property development and project management consultancy Armitage Jones announced via its Instagram account that it had been appointed to manage the design and build of 555 Collins Street on behalf of Charter Hall. Armitage Jones is also working with Charter Hall on its Wesley Place precinct in the CBD's north-eastern end.

 

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<p style=" color:#c9c8cd; font-family:Arial,sans-serif; font-size:14px; line-height:17px; margin-bottom:0; margin-top:8px; overflow:hidden; padding:8px 0 7px; text-align:center; text-overflow:ellipsis; white-space:nowrap;"><a href="https://www.instagram.com/p/Btu_l_FlZSJ/?utm_source=ig_embed&amp;utm_medium=loading" style=" color:#c9c8cd; font-family:Arial,sans-serif; font-size:14px; font-style:normal; font-weight:normal; line-height:17px; text-decoration:none;" target="_blank">A post shared by Armitage Jones (@armitagejones)</a> on <time datetime="2019-02-11T08:09:44+00:00" style=" font-family:Arial,sans-serif; font-size:14px; line-height:17px;">Feb 11, 2019 at 12:09am PST</time>
</div>
</blockquote>
<script async src="//www.instagram.com/embed.js"></script><blockquote>
"WORKPLACE OF THE FUTURE - arriving in 2022! 
We are beyond excited to have been appointed to manage the design and construction of 555 Collins Street - @charterhallau ‘s largest office development and what will be a landmark tower of the world. Our appointment as Project Manager and Superintendent demonstrates the depth of experience and design and construction expertise across our team.  #insafehands #design#construction #architecture#propertydevelopment #realestate#skyscraper #melbourne"
</blockquote>

For the purpose of the study below I initially used the maximum height of Fragrance's residential scheme designed by Bates Smart at 142m. Shadow testing indicated an overall height of 160m was achievable to the highest point with a sloping roof form.

<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/555c_1.png" rel="gallery-all"><img alt="" class="image-article-full-width-580px" height="334" src="/sites/urban.melbourne/files//styles/article_full_width_580px/public/pictures/article-images/555c_1.png?itok=bcgVO78g" width="580"></a>

<figcaption>Section through centre of the site - solar angles @ winter solstice</figcaption></figure>I eventually landed on a dual tower scheme comprising;

<ul>
<li>A 19-storeys (80m) to 55 King Street with floor plates of 1,980 sqm to podium levels and 1,490 sqm to tower levels. Total GFA ; and</li>
	<li>a 38-storey (160m to top of slope) tower to 555 Collins Street with floor plates of 1,960 sqm to podium levels and 1,100 sqm to tower levels</li>
	<li>A north-south laneway 6m wide along the western boundary</li>
</ul>
This yields a GFA of 83,290sqm which isn't far off the 18:1 ratio.

<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/555_collins_dual-01.png" rel="gallery-all" title="Is a dual tower scheme on the cards?"><img alt="" class="image-article-full-width-580px" height="240" src="/sites/urban.melbourne/files//styles/article_full_width_580px/public/pictures/article-images/555_collins_dual-01.png?itok=3GnxHpQi" title="Is a dual tower scheme on the cards?" width="580"></a>

<figcaption>Is a dual tower scheme on the cards?</figcaption></figure>The final outcome will eventually reveal itself when Charter Hall submits a revised application for the site. With Cbus Property and Bates Smart submitting an application for 435 Bourke Street  just prior to Christmas one would expect 555 Collins isn't too far behind.
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Lurking in the shadows - 555 Collins Street

<html><body>
A new commercial development on Melbourne’s Lonsdale Street has been announced.
Charter Hall's Wesley Place will include three commercial office buildings, retail, culinary and community amenities.
Set for completion in 2021, the project at 130, 140 and 150 Lonsdale will also include restoration of the site’s Neo-Gothic buildings.
The overall site area is 1.1. hectares and pre-committed tenants including Vanguard and Telstra Super.
</body></html>

New commercial precinct on Melbourne's Lonsdale Street announced 

<html><body>
<a href="/developers/charter-hall">Charter Hall</a> has announced that it has secured the Australian Financial Complaints Authority (AFCA) as a tenant within its $700 million Wesley Place development, currently under construction at the eastern end of Melbourne's CBD. AFCA joins Vanguard, Telstra Super, Cbus Super and the Uniting Church in committing to <a href="/developments/melbourne-vic-3000">130 Lonsdale</a> after agreeing to occupy approximately 7,600 sqm across Skyrise Levels 24-27. 

Upon completion in 2020, 130 Lonsdale will comprise 55,000 sqm of Premium-Grade, tech-enabled office space across a 35-storey tower. The future-ready workspace is registered to pursue WELL certification and target 6-Star Green Star design, As-Built v1.1 and 5-Star NABERS ratings - aligning with the Charter Hall's vision for a precinct’ with a sustainable legacy for the future.

AFCA's 12-year lease will commence upon practical completion in July 2020, bringing the new office tower’s committed Net Lettable Area (NLA) to approximately 78%. Charter Hall has engaged <a href="/architects/cox-architecture">Cox Architecture</a> to lead the design of the three commercial office buildings which together form the Wesley Place precinct – 130 Lonsdale, <a href="/developments/melbourne-vic">140 Lonsdale</a> and 150 Lonsdale. <a href="/builders/lendlease-building">Lendlease</a> is currently progressing construction on 130 Lonsdale and the wider 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/charter_hall_-_wesley_place_-_130_londsdale_terrace_view.jpg" rel="gallery-all" title="130 Lonsdale Street is currently under construction. Image: Charter Hall"><img alt="" class="image-article-full-width-580px" height="931" src="/sites/urban.melbourne/files//styles/article_full_width_580px/public/pictures/article-images/charter_hall_-_wesley_place_-_130_londsdale_terrace_view.jpg?itok=XfgmnyzL" title="130 Lonsdale Street is currently under construction. Image: Charter Hall" width="580"></a>

<figcaption>130 Lonsdale Street is currently under construction. Image: Charter Hall</figcaption></figure>According to Charter Hall, 130 Lonsdale will house one of the largest end-of-trip facilities in Melbourne along with a wellness centre, business hub and concierge services, integrated with Wesley Place’s retail precinct. Charter Hall believes the building's sculptural tapering-form will provide a unique addition to Melbourne’s skyline, whilst The Manse building, located beneath 130 Lonsdale, will deliver a distinct heritage quality to the Premium Grade workspace.

Charter Hall says a key part of the precinct’s development will be the rejuvenation of heritage architecture, including the careful restoration of one of Melbourne’s most important collections of Neo-Gothic architecture - the Wesley Church, Caretaker’s Cottage, Manse, School House and Nicholas Hall. The centrepiece of the precinct will be the Wesley Church, one of Melbourne’s finest and earliest examples of Gothic Revival architecture, which will include intricate stained-glass window and stonework restoration, and a new slate roof.

The precinct has been designed with active an active public realm comprising a series of laneways, green spaces, and food and beverage offerings, all of which will support and enhance the existing heritage buildings. Of particular note, according to Charter Hall, will be the grounds surrounding the heritage buildings which will feature "one of only five beautifully curated green spaces in Melbourne’s CBD for the public to meet, relax and socialise, akin to Melbourne Library or Parliament Gardens."

The AFCA's commitment to 130 Lonsdale leaves only a number of Skyrise floors available for lease, complete with cascading terraces designed for outdoor team meetings, functions and social occasions. Additionally, the two-level foyer space provides a place to meet clients or host informal breakout meetings.

A summary of the two other developments which complete the balance of the Wesley Place precinct - 140 Lonsdale and 150 Lonsdale - are further discussed below;

<h2><a href="/developments/melbourne-vic">140 Lonsdale</a></h2>

This A-Grade, technology-enabled building will provide 22,000 sqm of office space across 20 levels above the existing car park structure onsite. The 5-Star Green Star rated office building will include an outdoor terrace, direct access to Wesley Place's public realm and high-quality end-of-trip and concierge facilities. Workers will also have access to the wide-ranging amenities housed across the precinct. Cox Architecture's design links 140 Lonsdale to the Wesley Precinct whilst providing a complimentary backdrop to the heritage architecture.

Charter Hall says it is currently discussing leasing opportunities within the building with a number of potential pre-commitment tenants and expects to commence construction of the new tower in the first half of 2019.

<h2>150 Lonsdale</h2>

Already calling itself home to a number of Melbourne businesses, Charter Hall is in the early stage of planning to transform 150 Lonsdale St to a modern A-grade standard. Citing the work undertaken at its 570 Bourke Street office asset, Charter Hall says it plans to reposition 150 Lonsdale St with a new lobby, arrival experience, revitalised façade and end-of-trip facilities

Located on Lonsdale St, the building offers 28 levels of customisable, flexible floor plates and currently carries a 4.5 Star Green Star rating and is targeting a 5 Star NABERS energy rating

---------------------------------------------

The Wesley Precinct anchors Charter Hall's strong development pipeline which encompasses projects across Australia. This is highlighted in the interactive map below:

<iframe frameborder="0" height="450" src="https://www.urban.com.au/developments?developer=Charter%20Hall&amp;embeddable=map" width="100%"></iframe>

Also on the drawing board for Charter Hall is a significant commercial development spanning 55 King Street and 555 Collins Street after the developer acquired the site at the end of October.

According to Charter Hall, it plans to "deliver a modern office tower that will enrich the precinct and community... the Charter Hall team is progressing key design and development appointments, with further news to be announced in 2019."

<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/555_collins_carousel2.jpg" rel="gallery-all" title="Indicative concept for 555 Collins Street. Image: Charter Hall"><img alt="" class="image-article-full-width-580px" height="319" src="/sites/urban.melbourne/files//styles/article_full_width_580px/public/pictures/article-images/555_collins_carousel2.jpg?itok=skc_XXGb" title="Indicative concept for 555 Collins Street. Image: Charter Hall" width="580"></a>

<figcaption>Indicative concept for 555 Collins Street. Image: Charter Hall</figcaption></figure><h2>What they say...</h2>

<blockquote>
AFCA is a new organisation providing consumers and small business owners with fair, free and independent solutions to their financial disputes. Our new premises at Wesley Place will enable our Melbourne staff to deliver a high quality and flexible service. We are very excited about this move and value our relationship with Charter Hall. We believe the Wesley Place development will be a great one for our customers, members and our people.

- David Locke, CEO and Chief Ombudsman of AFCA
</blockquote>

 

<blockquote>
Welcoming AFCA to the Wesley Place development is a great milestone and demonstrates the strong leasing momentum we have been able to create with approximately 78% of the asset secured. Upon completion, Wesley Place will further enhance CPOF’s portfolio quality and total return metrics and deliver our Fund Investors a coveted new Premium Grade office building in the tightly held Melbourne CBD core office precinct.

This new lease demonstrates our approach to securing significant tenant pre-commitments to de-risk the approximately $1.3 billion of committed projects that we have underway nationally within our office funds management platform. The depth of our internal development capabilities, with experienced teams based in each major capital city means that we are able to collaborate with our tenant customers to deliver great workspace experiences as well as create institutional quality investment opportunities in the office sector.

- Matthew Brown, CPOF Fund Manager
</blockquote>

 

<blockquote>
Our working and social lives are increasingly intertwined. That’s why we’re creating forward thinking workspaces, that are smart, agile and offer a diverse destination where both businesses and the wider public can use and enjoy the space. 130 Lonsdale Street continues to offer opportunities to new customers to join major corporates AFCA, Vanguard, Telstra Super and CBUS in this location, with the ability to secure the best skyrise space available, four floors of which boast outdoor terrace areas.

The common link across all buildings is the future-proofed technology throughout the precinct for workforces now and into the future. We are delivering laptop-enabled green spaces, customised precinct apps and modern property technologies within the buildings that will keep tenants connected and ahead of the curve.

Wesley Place is one of Melbourne’s earliest settlements dating back to the 1800s. It is therefore immensely important for us to ensure any of the plans we have for the commercial office spaces seamlessly blend with the heritage buildings on site.

We’re incredibly proud to be working with Lovell Chen and Heritage Victoria on this major piece of heritage development for the City of Melbourne, so that the local congregation, community groups and future generations can continue to use the space as a community meeting point.

Wesley Place is set to be the next, quintessential Melbourne destination. Food, beverage, and convenience offerings will ignite the surrounding Melbourne shopping district, catering to the needs of the busy yet savvy workforce within and general public.

As developers and long-term managers of this significant project, we have a longstanding commitment to seeing the precinct come to life. Our partnership with the site’s owners, the Uniting Church, is key to realising the best outcomes for all involved.

- Charter Hall’s Regional Development Director, Simon Stockfeld
</blockquote>
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Charter Hall secures another tenant at its Wesley Place precinct

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Earlier this year, Apartments.com.au posed the question: "<a href="/news/is-2018-the-year-of-commercial-for-the-melbourne-market">Is 2018 the year of commercial for the Melbourne market?</a>" As 2018 has rolled on this notion has continued to be reinforced with developers snapping up and consolidating sites or scrapping their apartment developments all together, in favour of office. 

At the beginning of the week we <a href="/news/double-delight-pdg-releases-new-images-of-two-key-melbourne-projects">highlighted PDG's revised development intentions</a> for the former Toyota site at the top end of Elizabeth Street. Dubbed Elizabeth North the three tower commercial scheme replaces an earlier four building residential scheme, in response to the current state of the residential apartment market.

<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/elizabeth-north_pdg_0.jpg" rel="gallery-all"><img alt="PDG's Elizabeth North at 611-697 Elizabeth Street. Image: PDG" class="image-article-full-width-580px" height="327" src="/sites/urban.melbourne/files//styles/article_full_width_580px/public/pictures/article-images/elizabeth-north_pdg_0.jpg?itok=ZtVJfM7Q" title="PDG's Elizabeth North at 611-697 Elizabeth Street. Image: PDG" width="580"></a>

<figcaption>PDG's Elizabeth North at 611-697 Elizabeth Street. Image: PDG</figcaption></figure>The latest site set to switch to commercial use appears to be <a href="/developments/melbourne-vic-3000">555 Collins Street</a>, after Fragrance Group sold the site to Charter Hall for a reported $140m, according to the <a href="https://www.afr.com/real-estate/charter-hall-swoops-as-singaporeans-exit-in-140m-collins-st-deal-20181025-h174ij">AFR</a>. This comes after Fragrance only managed to achieve sales of 46 per cent of the 625 total apartments in the 12 month period since the project was launched to the market.

Charter Hall's recent acquisition adds to its existing land holding at 55 King Street which adjoins 555 Collins Street and now forms part of a combined development site of 4,627 sqm. Applying a plot ratio of 18:1 as per the Central City planning controls would result in a developable Gross Floor Area of 83,286sqm or just shy of 67,000sqm NLA. 

Taking into consideration floorplate sizes, setback requirements and overshadowing controls etc. a single commercial office building of around 30-35-storeys could be expected on the combined site. Charter Hall had previously investigated developing an office building of around 27-storeys at 55 King Street.

<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/55_king_0.png" rel="gallery-all"><img alt="An unbuilt concept for 55 King Street. Image: Charter Hall" class="image-article-full-width-580px" height="234" src="/sites/urban.melbourne/files//styles/article_full_width_580px/public/pictures/article-images/55_king_0.png?itok=bw9Zfs_5" title="An unbuilt concept for 55 King Street. Image: Charter Hall" width="580"></a>

<figcaption>An unbuilt concept for 55 King Street. Image: Charter Hall</figcaption></figure>In recent months Mirvac has acquired the 383 LaTrobe Street site from Sterling Global for a cool $122m, after the latter gained approval for a 70-storey mixed-use tower designed by Ateliers Jean Nouvel. A 5-storey office building currently leased by the Australian Federal Police (AFP) occupies the 2,850 sqm site. The AFP are due to relocate to 311 Spencer Street in late 2020. In the interim it is understood that Mirvac have engaged Cox Architecture to develop a commercial scheme for the site.

Dexus, which sold a development site at 32-44 Flinders Street with a permit for a 54-storey tower, has in recent months snapped up two sites at 52 and 60 Collins Street for $230m allowing them to proceed with single commercial development. The site is located opposite QIC GRE's 80 Collins Street redevelopment which is currently under construction.

Finally, Cbus Property has resumed demolition of 150 Queen Street to allow for the creation of a temporary park, while it finalises plans for a Bates Smart-designed commercial development. Cbus' extensive redevelopment encompasses a consolidated land holding comprising 140 and 150 Queen Street, 27 McKillop Street and 423 Bourke Street, and is expected to have a development value of around $1bn, not too dissimilar to its <a href="/buildings/collins-arch-447-collins-street-melbourne">Collins Arch</a> project. 

<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-9337.jpg" rel="gallery-all"><img alt="Demolition has resumed on 150 Queen Street. Image: Mark Baljak" class="image-article-full-width-580px" height="387" src="/sites/urban.melbourne/files//styles/article_full_width_580px/public/pictures/article-images/img-9337.jpg?itok=s4u-c7JK" title="Demolition has resumed on 150 Queen Street. Image: Mark Baljak" width="580"></a>

<figcaption>Demolition has resumed on 150 Queen Street. Image: Mark Baljak</figcaption></figure>Based on the above, it looks like the commercial trend of 2018 is likely to drag on into 2019 as planning applications are lodged. Watch this space.

 
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