Queensland builder-developer MAYD has revealed the first look at its major North Kirra beachfront development, lodging amended plans that reduce the number of apartments and increase the proportion of larger residences.

The project is planned across a substantial 4,742 sqm amalgamated site spanning seven lots at <a href="https://www.apartments.com.au/new-apartments/2-6-pacific-parade-bilinga-qld-4225">2-6 Pacific Parade</a> and 27-33 Golden Four Drive in Bilin​ga, directly opposite Nor​th Kirra Beach.

<a href="https://www.apartments.com.au/developers/mayd-group">MAYD</a> secured the site for $32.5 million in 2025, in what was one of the Gold Coast's largest property transactions of the year.

The development will be delivered across two stages, with the first stage carrying an estimated gross realisation value of around $360 million.

The latest amendments seek to reduce the overall apartment count and shift the project further toward the owner-occupier market, with larger residences designed for buyers wanting considerably more space than traditionally offered in a beachfront apartment.

The residential mix will include townhomes, oversized two-bedroom apartments, substantial three-bedroom residences and four-bedroom homes.

MAYD has appointed Cera Stribley to lead the architecture and interiors, with the Melbourne-based design practice drawing on the beachfront setting through a series of ocean-facing terraces and heavily landscaped balconies.

Strong horizontal forms and curved balconies will define the exterior, with subtropical landscaping integrated throughout the building to soften the built form and increase the connection between the residences and the beachfront.

The project will also include an extensive collection of resident wellness and lifestyle facilities, continuing the broader shift across the Gold Coast's luxury apartment market toward larger homes supported by resort-style amenity.

<img alt="MAYD" data-entity-type="file" data-entity-uuid="d1bcbb05-e659-4b47-8bd4-1e595315e2ad" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-27%20at%202.05.03%E2%80%AFPM.png?VersionId=jj0XEud1X1DuLt7_KyElhjMdZGOXmLHP" />

MAYD Founder Todd Mould said North Kirra was increasingly appealing to buyers attracted to the more established, lower-density character of the southern Gold Coast.

"North Kirra presents one of the most compelling luxury residential opportunities currently emerging in Australia, combining absolute beachfront with the character and authenticity that buyers are increasingly seeking, and the same sense of tight-knit community that defined Burleigh and Currumbin perhaps 10 or 15 years ago," Mould said.

"With Gold Coast Airport on its doorstep, it also offers a level of accessibility that broadens its appeal across almost every market demographic."

The project comes as the southern Gold Coast continues to attract an increasing share of high-end apartment development and buyer activity.

Kirra in particular has emerged as one of the region's more tightly held beachfront markets, with its relatively low-density character, established surf and hospitality scene and proximity to Gold Coast Airport differentiating it from the higher-density markets further north.

Mould said those characteristics had informed the approach MAYD and Cera Stribley had taken to the project.

"We've worked closely with Cera Stribley to create a vision that is deeply connected to its surroundings," he said.

"Inspired by the coastline itself, the architecture has been shaped around space, privacy and resort-style living, creating a collection of homes that reflects the next generation of luxury on the southern Gold Coast."

MOTIV Managing Director Carly Cottam, who has been appointed to market the project, said buyer attention had continued to move south along the Gold Coast.

"Purchasers who may once have defaulted to Broadbeach, Main Beach or Surfers Paradise are increasingly recognising the value of a genuine beachfront location that offers lower density, strong amenity and a more established sense of community," Cottam said.

"Kirra has a powerful combination of growing demand and genuine scarcity. Beachfront supply is inherently constrained, the area remains relatively low density, and buyers are increasingly placing a premium on locations that feel established, uncrowded and authentic rather than heavily developed."

Cottam said the proximity to Gold Coast Airport was also proving increasingly important for interstate and second-home buyers.

"Being minutes from Gold Coast Airport makes it particularly compelling for interstate buyers, frequent travellers and second-home purchasers who can access an authentic coastal lifestyle almost immediately after stepping off a flight."

The acquisition takes MAYD's active development portfolio to more than $500 million, with the North Kirra project representing one of its largest undertakings to date.

MAYD is targeting an early 2027 launch.

Joel Robinson

First look at MAYD's North Kirra mixed-use precinct

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Castle Hill, the longtime hub of the Hills District, has been one of the major beneficiaries of Sydney's Metro expansion, with improved connectivity helping drive continued population growth, development and buyer demand across the Hills District.

But despite that growth, the suburb has seen relatively few major new apartment projects brought to market over the past 18 months.

Hills District developer Reve Group is looking to fill that gap with <a href="https://www.apartments.com.au/new-apartments/nova-r-ve-castle-hill-2-garthowen-crescent-castle-hill-nsw-2154">Nova Rêve</a>, a major new mixed-use precinct on the corner of Garthowen Crescent and Old Castle Hill Road, a short walk from Castle Hill Metro Station and Castle Towers.

[smartcode_project:default project_id=152737 project_image_fid=377679]

The project will comprise three residential towers alongside a hotel, restaurants, cafes and a skybar, more than 1,600 sqm of ground-floor retail and almost an acre of landscaped gardens.

It represents the largest project undertaken by Reve Group, the development arm of the Kassis family, which has been building across the Hills District for more than 30 years through Kassis Homes.

[smartcode_project:default project_id=152737 project_image_fid=377675]

Nova Rêve also represents a significant step up from the family's first apartment development, Grand Rêve, which was delivered nearby on Garthowen Crescent.

Grand Rêve introduced larger, house-like apartment layouts and premium inclusions including Wolf and Sub-Zero appliances to the Castle Hill market.

Nova Rêve takes that approach to a precinct scale, combining the residential component with hospitality, retail and substantial public and resident landscaping.

[smartcode_project:default project_id=152737 project_image_fid=377685]

Reve Group Managing Director Sam Kassis said the project reflected the family's three decades of building in the Hills, which has evolved from trophy homes on quarter-acre blocks to larger-scale apartment development.

"Grand Rêve was our first apartment project here and it showed us what this pocket of Castle Hill could be. Nova Rêve is the refinement of that idea: not just apartments, but a place the whole suburb can use," Kassis said.

A key part of that approach is the hotel, which has been designed to operate as an amenity for the wider Castle Hill community rather than solely hotel guests.

It will include restaurants, cafes, skybars and all-day dining, alongside conference and event facilities catering to business functions, community groups and private events.

At ground level, more than 1,600 sqm of shops and cafes will open onto the surrounding streets and landscaped areas.

Almost an acre of gardens designed by Land and Form Studios will run through the precinct, incorporating pathways, seating, barbecue areas and children's play spaces.

[smartcode_project:default project_id=152737 project_image_fid=377680]

Reve Group's Romio Georges said creating an active ground plane had been central to the planning of Nova Rêve.

"There are gardens with pathways, barbecues, seating and play areas, shops and cafes opening onto the street, and a hotel with restaurants and a skybar that anyone in Castle Hill can walk into," Georges said.

The project's elevated position on one of Sydney's highest ridgelines will also provide apartments with outlooks toward the Sydney skyline, surrounding parkland and the Blue Mountains.

More than 80 per cent of the apartments will occupy corner positions, with Turner responsible for both the architecture and interiors.

&nbsp;

[smartcode_project_cta:default project_id=152737]

<h3 data-end="3697" data-section-id="q3n5ak" data-start="3672">&nbsp;</h3>
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Nova Rêve arrives as Reve Group bets on Castle Hill's next growth phase

A collection of just 25 large-format apartments and penthouses overlooking Goodwin Park is entering the Coolangatta market, with <a href="https://www.apartments.com.au/new-apartments/marea-residences-coolangatta-27-27a-dixon-street-coolangatta-qld-4225">Maréa Residences</a> combining a low-density, residential-only approach with uninterrupted park and Pacific Ocean outlooks.

Located at 27 Dixon Street, Maréa comprises three and four-bedroom residences alongside a limited number of dual-level penthouses, with the project positioned between Goodwin Park and <a href="https://www.apartments.com.au/developments/coolangatta-qld-4225">Coolangatta</a>’s coastal precinct.

Construction has commenced, with completion currently estimated for late 2027. Three-bedroom residences are priced from $1.8 million.

[smartcode_project:default project_id=150999 project_image_fid=374005]

The project has been designed around its northern outlook across the park, with the building’s architecture, landscaping and material palette intended to establish a connection with the neighbouring green space. The residences have been configured to maximise natural light and views across Goodwin Park towards the ocean.

Inside, the material palette incorporates timber, stone and brushed brass, complemented by curved detailing and ambient lighting. Kitchens and bathrooms carry the same natural material approach, while residences also include basement parking, storage and lift access.

Maréa’s penthouses are arranged over two levels and include private pools, adding another layer to the project’s focus on larger-format apartment living. Across the development, residences are configured with three or four bedrooms rather than the broader mix of smaller apartment types commonly found in larger projects.

[smartcode_project:default project_id=150999 project_image_fid=374010]

Resident amenity is concentrated at rooftop level, where landscaped entertaining terraces and pools take advantage of elevated views across Coolangatta and the Pacific Ocean.

The project has so far been particularly well received by local owner-occupiers and downsizers, according to Urban Activation Property Sales and Marketing Director Matt George, with the residential-only format, construction quality and northern park outlook among the features resonating with purchasers.

“The uninterrupted northern aspect overlooking Goodwin Park has been a key point of difference, with buyers attracted to the sense of serenity and open space the park provides, while still enjoying easy access to the ocean and being within walking distance of the lifestyle and amenities Coolangatta has to offer,” George said.

[smartcode_project:default project_id=150999 project_image_fid=374002]

“The combination of high-quality construction, a residential-only building, park outlook and proximity to the beach has resonated strongly with the local downsizer market.”

The Dixon Street address is within walking distance of Coolangatta Beach and the broader southern Gold Coast coastline, including the surf breaks at Snapper Rocks and Kirra. Coolangatta’s cafés, restaurants and retail are nearby, while Gold Coast Airport is also within close proximity.

[smartcode_project_cta:default project_id=150999]

Maréa Residences brings parkside apartments to Coolangatta

Melbourne developer PDG has secured Victorian Government approval for its $1.5 billion Southbank development <a href="https://www.apartments.com.au/new-apartments/the-one-1-queens-bridge-street-southbank-vic-3006">The One</a>, clearing the way for the long-dormant riverfront site opposite Crown to finally be developed.

The Minister for Planning has approved the project at 1-29 Queens Bridge Street, with the Department of Transport and Planning issuing the planning permit following its assessment.

The approval will allow PDG to develop the prominent 5,059 sqm site with a major mixed-use tower comprising premium apartments, including branded residences, a luxury hotel and boutique office space.

PDG acquired the site in late 2024, with its position directly opposite Crown's main entrance and near Melbourne's Arts Precinct making it one of Southbank's most significant remaining development opportunities.

<img alt="PDG" data-entity-type="file" data-entity-uuid="3933013e-6332-4386-b9be-089df05caf17" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-27%20at%209.29.22%E2%80%AFAM.png?VersionId=sITIgBqDL0N3VNSMwWEmF5UA.uvcsRyu" />

Designed by COX in collaboration with ODO and PDG, the tower's architecture draws on the movement of the Yarra River, with six vertical pleats running the height of the sculpted facade.

The project will also see the heritage-listed Queens Bridge Hotel restored and incorporated into the development&nbsp;with new hospitality and public uses, including a rooftop venue.

A significant component of The One will be its residential amenity.

More than 5,000 sqm of resident facilities will be delivered across a single level, making it one of the largest consolidated residential amenity offerings proposed in an Australian apartment development.

The planning approval also incorporates a major upgrade of Queensbridge Square, which PDG will deliver in partnership with the City of Melbourne.

<img alt="PDG" data-entity-type="file" data-entity-uuid="73167fcd-1031-4b6f-a408-a064cfe45ed1" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-27%20at%209.29.17%E2%80%AFAM.png?VersionId=Pf1AEWxw6SNmBqR0zQW5lyEze.MtxgFp" />

The existing square will be revitalised as a new civic and pedestrian space along the Yarra River, strengthening the connection between the project, Southbank and the riverfront.

PDG Founder and Managing Director Vince Giuliano said the approval represented a major milestone for a site which has remained largely underutilised for more than 15 years.

“This is the most significant Planning Permit approval Melbourne has seen in recent years,” Giuliano said.

“For more than 15 years, this site has remained underutilised. This approval enables us to deliver a project that will contribute meaningfully to the revitalisation of Southbank, restore and reactivate an important heritage building, and create a new civic and hospitality destination for Melbourne.”

The latest approval follows an earlier planning permit issued by the City of Melbourne covering demolition works across part of the site at 9-29 Queens Bridge Street. Those demolition and early works are already underway.

PDG has also started generating early interest in the residential component from owner-occupiers ahead of a planned public launch in early 2027.

PDG secures approval for $1.5bn Southbank apartment development, The One

Local developer Harridan is seeking to turn its Woolloongabba apartment project into the first stage of a broader transformation of Burke Street, using a new 16-storey mixed-use building to establish a greener pedestrian connection toward the rapidly evolving Boggo Road transport and knowledge precinct.

The South East Queensland developer has filed plans for 154 apartments on the <a href="https://www.apartments.com.au/new-apartments/4-burke-street-woolloongabba-qld-4102">southern side of Burke Street</a>, where its proposal has been designed alongside a wider vision by LatStudios for the street.

That vision positions the southern side of Burke Street for buildings of 15 storeys and above, while envisaging lower-rise development of up to five storeys on the northern side to transition into Woolloongabba's existing character housing. It also proposes wider pedestrian verges, deep planting, new street trees and upgrades to the pedestrian approach to Boggo Road Station.

The Harridan development itself has been designed by Brisbane-based Arqus Design and will comprise 154 apartments across 16 storeys. The mix is weighted heavily toward two-bedroom apartments, with 121 proposed alongside 10 one-bedroom and 23 three-bedroom residences. There will typically be around 14 units per floor.

A lower-ground car park and three podium levels will accommodate 156 resident parking spaces, along with visitor and commercial parking. There will also be 154 resident bicycle spaces and 40 visitor bicycle parks.

&nbsp;

Harridan is a family-owned developer and part of the Holmwood Highgate Group, with more than three decades of development activity across South East Queensland. Its portfolio spans residential, commercial and industrial property, with current residential projects including Riverbank on Byron in Bulimba, Esperance Residences in Carina and The Precinct at Kinross Road in Thornlands.

Wooloongabba has been popular for apartment developers, particularly since the announcement of the 2032 Summer Olympics games in Brisbane.

While there have been a lot of development applications, it has failed to materialize into real supply.&nbsp;

Sarazin has been the major player in the area. They are under construction at Murcia Residences, on the fringe of East Brisbane and Woolloongabba. They have just launched <a href="https://www.apartments.com.au/new-apartments/the-stanley-residences-woolloongabba-8-trafalgar-street-woolloongabba-qld-4102">The Stanley Residences</a>, in Woolloongabba on Trafalagar Street. They also have Nuage coming soon on the nearby <a href="https://www.apartments.com.au/new-apartments/nuage-woolloongabba-14-wellington-road-woolloongabba-qld-4102">Wellington Road</a>.

First look: Harridan plans Burke Street transformation beside Boggo Road transport hub

Commercial

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The London-based private equity investor Terra Firma is considering the partial sale of Australia’s largest privately owned beef producer, Consolidated Pastoral Company.
The decision by Terra Firma to introduce a part-owner for Consolidated Pastoral is thought to signal attempts to increase its capacity for a potential acquisition, possibly Macquarie Pastoral.
It has appointed investment bank Barclays Capital to field recent approaches from Chinese parties, the Australian Financial Review said.
Consolidated Pastoral was bought from the Packer family in 2009 for around $450 million.
It’s believed Terra Firm was considering a partial sale of as much as 40%.
Consolidated Pastoral has a book value of about $700 million.
Owning and operating 19 cattle stations, it has more than 360,000 head of cattle across 5.6 million hectares of land in Australia.
The CPC chief executive Troy Setter said the company had received interest from Indonesia and China.
 
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Chinese and Indonesians get chance to secure Terra Firma Australia pastoral offering

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Joseph Safra, Brazil’s second-wealthiest man, is buying London’s Gherkin skyscraper.
The conical office tower has been bought by Safra Group, a company he ­controls, for about £726 million (A$1.33 billion).
The Gherkin tower, at 30 St Mary Axe, has become one of ­London’s best-known landmarks since it opened a decade ago. 
The building was one of the first skyscrapers in the city to earn a nickname. Its tenants include reinsurer Swiss Re.
Safra has an estimated net worth of $US12.2 billion (A$14 billion), coming from a family with roots in mid-19th-century Aleppo, Syria.
A fund managed by IVG Im­mobilien, once Germany’s biggest real estate company, and London-based Evans Randall bought the Gherkin from Swiss Re for £600 million (A$1.08 billion) in 2007. Deloitte took control of the building in April after the Swiss franc’s appreciation caused some of the debt payments to balloon.
The price is equivalent to a yield of about 3.8%, said the source, who asked not to be identified because the information is private.
Photo: Creative Commons
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London's Gherkin office skyscraper sold to Brazilian billionaire

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Shimao Property, controlled by billionaire Hui Wing Mau, has bought 175 Liverpool Street in Sydney’s CBD.
<a href="https://rca.joneslanglasalle.com.au/property-offices-nsw-sydney-501232079" target="_blank">It sold through JLL</a> for around $390 million by the Singapore’s GIC Real Estate that paid $230 million in 2005.
The newly refurbished A-Grade office building totalling 48,890 square metres of NLA is occupied by Telstra, state and federal government tenants.
GIC, the sovereign wealth fund of Singapore, owns about $4 billion worth of real estate in Australia, including Sydney's Chifley Tower and Queen Victoria Building.
The Chinese-born Hui Wing Mau is a BRW Rich Lister and was ranked by Forbes as China’s 12th richest person, worth around $6.35 billion.
He is a member of the Chinese People’s Political Consultative Conference. 
Shimao Holdings, which is listed on the Hong Kong stock exchange, holds 112 developing projects in 42 cities.  
Its holdings include hotel projects such as the $548 million InterContinental Shimao Hotel in Shanghai.
Following the completion of InterContinental Shimao Shanghai Wonderland (Groundscraper Hotel) in Shanghai, a hotel situated at the lowest altitude in the world, Shimao Property announced its “Hotel on the Cliff” project in Jiangyin. 
The group generates its turnover primarily from property development, property investment and hotel operations.
As at 30 June 2014, turnover of the group reached RMB 23.68 billion (A$4.4 billion), grew by 42.0% when compared to RMB 16.68 billion (A$3,14 billion) for the corresponding period in 2013.
During the period, revenue from property sales amounted to RMB 22.61 billion, accounting for 95.5% of the total revenue and representing an increase of 44.1% over the corresponding period in 2013.
The average recognised selling price increased by 4.2% to RMB 11,518 (A$2,166) per square metre in the first half of 2014, from RMB 11,059 (A$2,080) per square metre for the corresponding period in 2013. 
Notwithstanding the Chinese residential market remains sluggish in the first half of the year, the group posted contracted sales of RMB 8.07 (A$1.51 billion) billion in June, which was a record high for monthly sales since the inception of Shimao Property.
It was also the fourth month in which the group had registered consecutive sales growth, after it had posted monthly sales of more than RMB 6 billion (A$1.13) from March to May inclusive. 
Building on its strategic positioning, established in 2013, as a “Pioneer in Urban Evolution” and a “Lifestyle Service Provider”, Shimao Property launched branding campaigns across the country this year.  
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Singaporeans sell Hyde Park, Sydney office to Hui Wing Mau's Shimao Property

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Office vacancy rates have lept towards 15% in Brisbane, Darwin, Canberra, Adelaide and Perth. This takes the national average to 12.4%, as an overall vacancy level.
However, businesses are now leasing space once again in both Sydney and Melbourne — where their vacancy rates are currently hovering around 10%, according to JLL.
Tenant demand for space under 800 square metres has been strong — with technology firms, investment banks and business services expanding. Compared with other capital cities, Melbourne enjoys demand from a far wider profile of tenants.
By 2016, the Property Council of Australia is predicting a vacancy rate of under 9% for Sydney and Melbourne. Whereas, the other capital cities are expected to still be up around 16% (CBD Office markets are considered "in balance", with a vacancy rate of between 6% to 8%).
<h3>Offshore Buyer Demand</h3>
Overseas investors have been responsible for boosting sales of commercial property to nearly $11 billion during the September quarter. Their contribution was about $4.4 billion and accounted for half the number of actual sales.
Interestingly, Singaporean investors (at $2.8 billion) have clearly outperformed Chinese investors (at $518 million).
While many of the purchases were made within the various CBDs, there will be an obvious flow-on effect to the inner-city suburbs around most Australian capital cities.
Furthermore, there were a significant number of purchases made of lower-grade office buildings — which are planned for either development (or conversion) into apartments.
<h3>Two-fold Effect</h3>
These projects will obviously help in reducing the overall vacancy rate around the country, by effectively withdrawing whole buildings from the market.
However they will also create added concern for those fearing an unhealthy oversupply of inner-city residential accommodation, within our capital cities.
Bottom line: Overseas investors are clearly seeing numerous opportunities here in Australia. And their increased activity over the past year has certainly taken many local investors by surprise.
Provided you base your purchases upon underlying fundamentals, the next four to five years is looking rather rosy for commercial investors.
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chrislang-EQKojcgJPV

Commercial property: State of the nation

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Asia Pacific confidence rises, with investors targeting office stock: Colliers

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GDI Funds Management Limited has entered into a conditional put and call option deed for the sale of 233 Castlereagh Street, Sydney for $156 million.
The B-grade office price represents an increase of $27 million compared to the June 2014 independent valuation. It is a 31 level 1976-built commercial office tower located in the southern end of the Sydney CBD within close proximity to the Downing Centre. 
It has been speculated Asian development interests were the intending buyers.
GDI Property Group recently leased a 1,800-square-metre office suite for the filming of the upcoming political drama Truth, starring Robert Redford and Cate Blanchett.
The film is based on the 2005 memoir Truth and Duty: The Press, the President, and the Privilege of Power.
Based on 60 Minutes producer Mary Mapes' 2005 memoir, the movie centres on the 2004 scandal that erupted after US news anchor Dan Rather reported that then president George W Bush received preferential treatment to avoid the Vietnam War draft.
Robert Redford will play the famous American anchor, while Cate Blanchett will portray producer Mary, who was subsequently fired over the story. 
The short-term lease was negotiated by Brendan Shipp and Thomas Fredriksen of Knight Frank, who said the movie directors needed nondescript views, as the movie is based in New York City.
Filming was expected to take eight weeks with the tenant paying about $100,000 a square metre gross for the space.
The GDI Property Group Steve Gillard said the sale was a great result and validated the GDI Property Group business model of buying well‐located CBD office properties with multiple exit options.
The option deed is conditional upon GDI Property Group procuring by September 2015 amendment of the covenanted restriction in relation to the allowable gross floor area.
GDI Property Group is confident that it will approve the amendment or replacement of the restriction on use.
Other key terms of the option deed include a $1 million call option fee has been paid.
GDA had previously advised in the GDI Property Group prospectus that it had been investigating the feasibility of alternative redevelopment options, including residential conversion, for its property at 233 Castlereagh Street, also known as 324 Pitt Street. 
In 2006 Leighton Properties Pty Limited (LPPL) and Lend Lease Real Estate Partners 1 Limited announced that they had exchanged contracts with SAITeysMcMahon, an Orchard Funds Management entity, for the sale of 233 Castlereagh Street at a price of $120 million.
It was transferred again in 2010 at $102 million. 
Quality office tenants over the years have included Moray and Agnew and more recently Copyright Agency, Carlson Wagonlit Travel and General Pants Co. The property known as Telstra House was owned by Telstra until selling at $55 million in 2002.
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More mid-town residential looms as GDI secure 233 Castlereagh Street, Sydney deal

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There has been fierce debate around commercial licensing recently. The Real Estate Institute of Victoria's (REIV) Enzo Raimondo is particularly against the recent changes.
Here's a Q&amp;A with Raimondo explainging why they oppose the gazetted regulatory changes.
What are the changes to commercial licensing?
The Victorian government has gazetted a regulatory change which enables anyone involved in the sale of real estate other than residential or rural land, will be exempt from the licensing requirements of the Estate Agents Act where,
<ul>
<li>The price in the contract of sale is at least $15 million or the property has a total gross floor space of at least 10,000 square metres.</li>
<li>Each party to the sale purchase or exchange of real estate owns other real estate with a total value of at least $15 million or a total floor space of at least 10,000 square metres.</li>
</ul>
Anyone involved in the leasing of real estate other than residential property or rural land, will be exempt from the licensing requirements of the act if the person or company for whom the person is acting owns property with a total of at least $15 million or a total floor space of at least 10,000 square metres.
It should be noted that the ALP, on Monday announced that it will review these changes if elected in Victoria at the upcoming state election on 29 November.
How does the REIV believe this will affect the industry and consumers?
It will create a two-tiered system where some agents will be licensed (for sales and leasing transactions below the threshold) and others won’t be licensed.
This will open the industry up to unqualified and inexperienced operators - and potentially criminals - because there will be no probity checks, and the operators will not be required to maintain an audited trust account or comply with the requirements of the estate agents act.
This will lead to a high level of financial risk to vendors, purchasers, landlords and tenants and means that thousand s of small businesses in Victoria will lose the inherent safeguards provided by the estate agents act.
This will hurt small business tenant in Victoria and may lead to increased rents, prices and put thousands of jobs at risk.  
What will the REIV be doing to stop the changes?
The REIV continues to lobby both sides of government in regard to the changes, and is running a public campaign leading up the state election (and beyond).
Are there any other changes to commercial licensing that should be implemented?
There is already an exemption in place for large commercial transactions between related parties, which the REIV believes is sufficient to meet the needs of a wide variety of stakeholders involved in these transactions. For this reason there is no need for the changes that have been proposed.
They represent deregulation of the commercial and industrial estate agency practice, yet are being promoted as red tape reduction.  
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Victoria's proposed commercial licensing changes: Q&A with the REIV's Enzo Raimondo

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The fund manager Placer Property Group have bought the NewActon East building in Canberra, home to the head office of the Australian Competition and Consumer Commission (ACCC).
Placer is seeking to raise $26.5 million in equity from self-managed super funds and individual investors for the unlisted property fund.
It offers investors an initial return of 7.75% paid quarterly.
The <a href="https://www.placerproperty.com.au/fund_newacton_east" target="_blank">NewActon East Property Fund</a> is a single-asset syndicate which will run for approximately seven years.
The fund’s only asset will be the commercial component of 21-23 Marcus Clarke Street, an ‘A’-grade, mixed-use building in the NewActon precinct on the fringe of the Canberra CBD. 
It was constructed in 2007 as an eight-storey, mixed-use office, retail and residential development. The fund has only acquired the building’s office and retail components (five storeys plus 115 car parking spaces) – the remaining three storeys of apartments remain in separate hands. 
Purchasing the asset will require $45 million to $49 million, including costs. 
It is expected the asset to produce reliable income, based on: 
<ul>
<li>98.5% occupancy;</li>
<li>Contracted fixed rental increases of at least 3.35% per annum; </li>
<li>A WALE of 9.2 years (by income); and</li>
<li>
A credit-worthy major tenant – 79.8% of passing rent is secured by a lease to the ACCC until 2022, the year after the initial term expires. 
</li>
</ul>
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ACCC's Canberra head office bought by Placer Property fund

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Sydney’s historic Griffiths Teas building are likely to be converted into New York-style converted warehouse apartments, offices and retail space.
Boutique residential developer Cornerstone Property Group has paid $22.22 million through JLL agent James Aroney for the factory that was sold by the property investors Isaac and Susan Wakil.
The Commonwealth and Wentworth Street, Surry Hills acquisition is part of a broader strategy to carve a niche transforming aging industrial buildings into stylish retail spaces and innovative warehouse style apartments, Cornerstone chief executive Michael Grant said.
<img src="https://www.urban.com.au/images/2014/11/05/surry-hills-nov-5-two.png" alt="">
The Cornerstone group recouped $37 million when all 39 apartments in its soon to be redeveloped Classic sportswear ­factory on Cleveland Street sold in May.
An historic mixed-use development at 119-121 Kippax Street is its latest project.
Isaac and Susan Wakil have also offloaded Key College House in Sydney to a ­consortium associated with property developer Michael Teplitsky.
Key College at 49-53 Wentworth Avenue is set to become a hotel and apartment tower with 98 hotel rooms and 35 apartments with hotelier Paul Fischmann’s Eight Hotels group.
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Historic Griffiths Teas, Surry Hills building set for mixed-use conversion

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The RBA's Dilemma
The general consensus is that our dollar should ideally be trading at around US85 cents and that would provide a balance between encouraging non-resource export businesses, while not adding unwanted inflationary pressure.
The RBA could achieve this simply by lowering the official interest rate. However, that would then fuel even more local borrowing — especially within the residential property market.
Ideally, the RBA would like to raise interest rates. Yet, that will only encourage more overseas funds into the country chasing attractive higher returns. Without a lower dollar exchange rate, that would put even more pressure on our export industries.
However, with the Aussie dollar falling to around US90 cents recently (and slipping slightly below that since), maybe the RBA will have its wish fulfilled.
The Impact of a Permanently Lower Dollar
Immediately, this would discourage overseas funds chasing higher returns and temper the demand by investors for both residential and commercial property.
Furthermore, the banks would begin losing their source of cheap funds and therefore, have less money available to lend.
Both these events would help cool the present frenetic market— where funds are often merely "seeking a home", with scant regard to value fundamentals — be it for residential or commercial property.
Bottom line: Make sure you stick to the basics, when assessing commercial property.
Always set out to look for:
<ul>
<li>Well-designed, well-located properties;</li>
<li>Solid tenants on a good leases; and</li>
<li>The ability to "add value", where possible.</li>
</ul>
Make sure you remain an investor in quality, not merely an accumulator of commercial property.
If you cannot find exactly what you want on realistic terms, perhaps you need to wait for the dust to settle and simply let these over-eager "amateurs" discover the importance of basing decisions upon underlying value.
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