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.

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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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A 60% surge of the funds outlaid by foreign investors for Australian commercial property has been recorded, with $5.9 billion spent in the last financial year, according to Savills Australia.
In the 12 months prior the funds totalled $3.5 billion.
Savills’ national head of research Tony Crabb said that the current figures are “unprecedented” and there's more to come.
Asian investors totalled $3.9 billion, or 67%. Meanwhile, North Americans and Europeans made their presence felt, with 18% and 15% of the spend respectively.
“The last 12 months buying activity is off the charts as far as recent history is concerned. It is almost as if they have been dipping their toe in the water, they like the temperature and now they are just diving right in,’’ Crabb said.
Australia’s reputation for stability, both in terms of the political and economic climates, remain the typical drivers according to Crabb.
“What has happened in the last 12 months for foreign investors is that circumstances at home are not as attractive in terms of returns – official interest rates are well below Australia’s - political and economic conditions may not be as stable, and property investment markets may not be as mature as Australia’s including restrictions on domestic investment,” he explained.
“In order to maintain growth and dynamism, companies, developers and investors are increasingly turning overseas to find new opportunities”.
Currently, 84% of foreign purchases are occurring in office markets, with 14% buying retail and 2% industrial. Asian investors make up two thirds of the spend in office markets. In total, foreign investors accounted for nearly 50% of CBD office market transactions in the last 12 months.
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“Unprecedented” 60% surge in foreign investment in Australian commercial property

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CFS Retail Property Group has booked a $400 million net profit for fiscal 2014, up 35% on the prior year.
The retail property trust has $14.2 billion of assets under management, including $8.9 billion held on balance sheet.
It is cautious on retail sales in the short-term given the 2015 federal budget impact but expect specialty store sales to steadily improve, chief executive Angus McNaughton forecasted, as Emporium Melbourne comes on line.
It officially opened its $1.2 billion Emporium Melbourne<a href="/expert-insights/investing/the-emporium-melbourne-officially-opens-its-doors"> in Baz Luhrmann-produced extravaganza</a>.
The Emporium comprises 45,000 square metres of retail space.
It is forecast to deliver 5% yield on cost.
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Emporium Melbourne forecast to deliver 5% yield on cost for CFS Retail

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The maximum rental available for permanent CBD car spaces have been said to have stalled across Australia, notably in line with a marginal change in office vacancies. However, the situation is expected to worsen in Brisbane and Perth, according to Savills Australia.
The Savills’ Quarter Times reports data has looked at rent achievable on car parks across the country.
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In Melbourne, car space rentals saw some upwards movement from a maximum of $600 per space per calendar month to the end of June 2013, to $700 this year – a 17% increase.
Adelaide, Brisbane and Sydney remained static at $375, $600 and $800 respectively. Perth also saw no change, at $765, despite reporting one of the strongest increases in office vacancies across the mainland – of 2.7%.
The end of the mining boom may negatively impact car park rentals in Brisbane and Perth, explained Savills national head of research Tony Crabb.
Brisbane’s state government staff cuts may also exacerbate any downturn, along with a trend of businesses moving to the city’s fringe, said Crabb.
He also noted that the city’s office vacancy rate currently tops those of the mainland capitals, at 14.7%.
Perth’s rents have also been stable over the past 18 months, but Crabb expects this to alter soon.
“However, as with the other key non-mining state, Brisbane, we do expect some negativity over the next 12 months given the dramatic rise in office vacancy,” he said.
While in Melbourne, the strength has come about due to government changes.
“The Melbourne market, for example, has been largely influenced by a 2006 state government congestion levy on both public and private car parking spaces within Melbourne CBD as well as a virtual cap placed on the number of car spaces approved in new buildings in and around the CBD,” he explained.
Sydney’s lack of growth was noted to be as due to the GFC, however an upward trend is expected by Crabb over the next 12 months.
Adelaide is expected to remain stable for the next 12 months. Rents may, however, be altered by a proposed new $750 per space levy bill currently before parliament.
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Future looks bleak for Brisbane and Perth car park rentals: Savills

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The Brisbane-based residential developer Devine has announced a pre-tax profit of $5.6 million for the six months to 30 June, well up on the $6.9 million loss for the previous corresponding period.
Managing director David Keir said a turnaround had been achieved and that prospects were good.
“The company expects to deliver a full year result of $10 million to $11 million profit before tax,” Keir said.
“Residential market conditions are continuing to improve in the company’s key operational regions of South East Queensland and Victoria.”
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The period was characterised by good trading performances across the company’s land development operations and an improved operational result from the homes business, the company notice advised.
Although they noted the South Australian residential market was "continuing to face challenges in a post-stimulus environment".
Its development operations and the constructions business reported:
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Land settlements of 392 allotments, with 85% of the full year settlement forecast either settled or subject to contract 
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314 housing construction commencements, with 80% of the full year target already commenced or subject to contract 
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Apartment sales of 97 apartments; including the pre-public release success of Mode at Newstead and the closing out of Hamilton Harbour with only one apartment of the 660 developed to be sold. Hamilton Harbour: only one apartment unsold DoubleOne 3: now nearing 90% sold Mode at Newstead: 70% sold or reserved prior to public release
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Sale of the company’s 50% interest in the Parramatta apartment opportunity capitalising on the value uplift since acquisition 
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Practical completion of the Devine / Investec DoubleOne3 apartment development to enable settlements to occur from July 2014 
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Growth of the Devine Constructions work-in-hand to $179 million with the award of the Westmark Milton contract for Walker Corporation (277 apartments) 
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Cashflow surplus of $41.8 million for the six months, a strong improvement on the prior corresponding period. 
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Its majority shareholder Leighton Holdings has recently announced that it was seeking to sell its half shareholding in the company.
The ASX announcement advised during the period to June 2014 the company undertook and achieved the following outcomes:
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Asset sales delivering more than $70 million to Devine were achieved as part of the capital recycling program with all assets sold at or above book value; 
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A detailed review of the Company’s business strategy and subsequent implementation of key outcomes; 
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Interest bearing debt reduction of $60 million resulting in a gearing level of 16% at June 30; 
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Accelerated trading levels across many of the Company’s projects; 
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No interim dividend has been declared. 
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South East Queensland conditions improving, but South Australia soft: Devine

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Charis Palmer  is deputy business editor at The Conversation
Emil Jeyaratnam is multimedia editor at The Conversation.<img src="https://counter.theconversation.edu.au/content/30272/count.gif" alt="The Conversation" width="1" height="1" style="line-height: 1.3em;">
This article was originally published on <a href="https://theconversation.com">The Conversation</a>.
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How exposed are Australian banks? The infographic that explains Australian banks' exposure to commercial property

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Applications and redemptions on some van Eyk Blueprint funds have been temporarily suspended "to protect investors’ interests".
The temporary suspension for the van Eyk Blueprint International Share Fund (VBI) has been imposed as a result of the market illiquidity of one of the underlying managers that VBI holds.
Van Eyk suspended applications and withdrawals from its $100 million Blueprint International Shares Fund last week, blaming so-called unauthorised investments by Artefact Partners, one of the fund's underlying asset managers since July 2012. 
"Contrary to our expectations, the underlying manager, Artefact Partners, elected to invest in a portfolio that was not in line with VBI’s strategy and objectives," the contested van Eyk statement said.
"The investment in Artefact Partners, constituting approximately 32% of the assets of VBI, is not “liquid” (“VBI Illiquid Investment”). Accordingly, VBI has ceased to be a liquid scheme as defined by the Corporations Act.
"As a result, van Eyk and Macquarie Investment Management Limited, the Responsible Entity of VBI, have determined that it is in the best interest of investors to temporarily suspend pricing, applications and redemptions."
Three additional funds in the Blueprint Series, with an exposure to VBI, have also been affected by the temporary suspension. The funds are the van Eyk Blueprint Capital Stable Fund (VBC), van Eyk Blueprint Balanced Fund (VBB) and the van Eyk Blueprint High Growth Fund (VBG). 
But Artefact have disputed the claim.
The head of the investment team is Richard Boon, formerly a managing director at Merrill Lynch Investment Managers and executive director of Morgan Stanley Asset Management.
Richard Boon founded Artefact Partners in 2005.
The Australian Financial Review Chanticleer columnist Tony Boyd wrote the temporary suspension of applications and redemptions on four van Eyk Blueprint funds is a "black mark" against both van Eyk, which picked the fund manager, and Macquarie Investment Management, which is the responsible entity of the funds.
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Van Eyk has no excuse for allowing one of its fund managers to make investments that triggered the illiquid rules under the Corporations Act.
The temporary suspension was an automatic response by Macquarie once it was advised Artefact, which had 32% of the assets in the van Eyk Blueprint International Shares Fund, had made an investment that was not liquid.
The investment was an unlisted property trust.
But Business Day reported Boon saying "investments have always been within the guidelines of its prospectus".
Boon said comments regarding Artefact are misleading.
The VBI fund returned -1.77% over the month of March, underperforming the neutral benchmark, in the last public announcement.
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It said the fund’s allocation to the BlackRock European Diversified Equity Absolute Return Fund was the key detractor from performance during the month.
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The fund aims to provide capital growth over the long term and have an investment horizon of five to seven years. It was marketed as not suitable for short term investment. 
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Unlisted property trust investment prompts van Eyk Blueprint funds redemptions suspension

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Prices for corporate car spaces outside of Melbourne CBDs have doubled as supply dwindles, according to Savills.
The Quarter Times Melbourne Office report from Savills Australia recorded that car spaces in the suburbs, notably within the inner east and south-east and CBD fringe, have seen their rent increased by up to 145%.
In some instances, this looks like a $90 per calendar month car space rent in mid-2009 jumping to between $170 to $220.
Meanwhile, the cost of parking in the CBD is up 27%, from $550 as the top monthly rate in mid-2009, to $700 in 2014.
St Kila Road parking remains at the same rate - $240 to $300 per calendar month.
The huge rises in some areas is noted as reflecting the increasing sale and commercial development of smaller infill sites and allotments that had previously been used as cheap car parks, explained Savills Australia Victorian head of research Glenn Lampard.
“Melbourne has some of the fastest growing metropolitan regions in the nation but governments have been slow or unable to provide the necessary public transport infrastructure. That means our roads become clogged with cars looking for a parking space,” Lampard said.
“Consumers that frequent our vibrant inner city retail strips would only be too familiar with this issue over recent years, with a plethora of parking meters going beyond the retail strip, stretching into surrounding streets,” he said.
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Leases jump by up to 145% for car spaces outside Melbourne CBD: Savills

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Investors secured seven NSW offerings of 7-Eleven service stations at auction yesterday, but the average 4.6% yield was tighter than the 6.8% two years ago.
Generating $33.08 million in sales, the top price was $6.01 million for a Lane Cove Road, Macquarie Park, North Ryde property (pictured above), which sold on a net yield of 4.96%.
 The other service stations sold on net yields of between 3.85% in Dee Why and 5.04% in nearby Mona Vale - all with 15-year leases to 7-Eleven.
The 15-year lease terms that commenced between 2010 and 2012, come with three five-year options; guaranteed fixed 4% annual rent increases, with the tenant responsible for all outgoing costs except land tax.
JLL’s John Macree, Leslie Cheng and Dylan McEvoy marketed the properties on behalf of the Withers Barlow Property Trust.
More 7-Eleven service stations, two in South East Queensland and six in Melbourne, will be auctioned this week.
Russell Withers, worth an estimated $665 million according to the recent BRW Rich list, jointly owns the rights to 7-Eleven in Australia with his sister, Beverley Barlow.
Jones Lang LaSalle has been selling the stores in tranches on behalf of 7-Eleven since early 2011.
The stores were purchased as part of 7-Elevens acquisition of 250 retail sites from Mobil Retail in 2010.
In 2011 seven properties in Thomastown, Clifton Hill and Noble Park in Victoria, Blacktown East, West Gosford and Long Jetty in NSW and Robina in Queensland were successfully auctioned by Jones Lang LaSalle with net yields ranging between 7.28% and 7.95%.
The purchasers have been attracted by land rich investment properties in prime locations with secure long-term leases and fixed rental increases.
7-Eleven Stores is the biggest convenience retailer in Australia, operating about 600 stores.
Many of the buyers were self-managed super fund retirees looking for passive cash flow investments, seeing the opportunity as ticking the box for a premium tenant on long-term lease, high underlying land value, rental growth guarantee, and high-profile exposure locations.
The New South Wales 7-Eleven convenience store and service station investments sold:
<ul>
<li>Ashfield, 132 Hume Highway – 1,524 square metres, sold for $4.9 million with a yield of 4.21%</li>
<li>Camperdown, 198 Parramatta Road – 1,107 square metres, sold for $3.65 million with a yield of 4.72%</li>
<li>Dee Why, 940 Pittwater Road – 1,867 square metres, sold for $5.05 million with a yield of 3.85%</li>
<li>Mona Vale, 38 Barrenjoey Road – 1,573 square metres, sold for $4.325 million with a yield of 5.04%</li>
<li>Macquarie Park / North Ryde, 404 Lane Cove Road – 1,716 square metres, sold for $6.01 million with a yield of 4.96%</li>
<li>Sans Souci, 476 Rocky Point Road – 1,538 square metres, sold for $4.55 million with a yield of 4.96%</li>
<li>St Ives, 157 Mona Vale Road – 2,257 square metres, sold for $4.6 million with a yield of 4.94%.</li>
</ul>
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Yields tighten in latest 7-Eleven Sydney service station offering 

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James Packer’s Crown Resorts Limited will partner up with Chinese property developer, Greenland Holdings Group to jointly bid for the Queen’s Wharf Brisbane Project.
Crown will combine its experience in operating large scale luxury integrated resorts with Greenland’s vast property development experience to form a consortium.
They were two of the then four separate short listed contenders announced in late May for the Queensland government’s Queen’s Wharf Brisbane Project. 
In October last year the Queensland government decided a gaming licence would be available for the under-utilised nine hectare government-owned site adjacent to the north bank of the Brisbane River.
The three remaining shortlisted consortia will be required to lodge fully-developed proposals with the government in late 2014.
Crown’s chief executive officer, Rowen Craigie said he hoped they can deliver for Brisbane an iconic tourist, entertainment and residential precinct that is recognised globally and embraced by the local community.
Greenland’s managing director in Australia, Sherwood Luo, said they were excited about the possibility in working with Crown.
Greenland Holdings Group is a Shanghai-based Chinese-state owned enterprise. 
It is a Fortune 500 corporation, ranking 268 in the 2014 rankings. Greenland has businesses in real estate, energy, finance, construction and automobiles and generated revenue of almost US$54 billion in 2013.
Greenland is already undertaking major residential and hotel developments in Sydney and Melbourne as well as a major integrated resort development in South Korea and numerous large scale residential, hotel and commercial developments in China, London, New York, Los Angeles and Malaysia. 
Greenland is the major shareholder of the listed Hong Kong property development company, Greenland Hong Kong Holdings Limited. 
The four consortia initially shortlisted to develop a six-star multi-billion dollar integrated resort development were.
<ul>
<li>Crown Resorts Ltd</li>
<li>Echo Entertainment Group Ltd</li>
<li>Far East Consortium/ Chow Tai Fook Enterprises Ltd</li>
<li>Greenland Investment Pty Ltd.</li>
</ul>
A formal announcement regarding the successful developer and their development scheme is not expected until early 2015.
{qtube vid:=V_Eiiyy8ec4#t=56}
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James Packer teams up with Chinese property developer for joint Queen’s Wharf Brisbane Project bid

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The Chinese developer JQZ has reportedly paid $50 million plus for ­Woollahra Council's former depot in Waterloo.
<a href="https://jqz.com.au" target="_blank">JQZ</a>, which also emerged last year as the $47 million development site buyer at nearby 904 Bourke Street, was previously known as the Tong Group which was founded in 2005.
The 1.4 hectare holding at 52-54 O’Dea Avenue is located within walking distance of Green Square railway station.
<img src="/images/2014/08/05/1.jpg" alt="">
The site is zoned for mixed-use of up to about 18 storeys with one tower, plus four x eight storey buildings.
JQZ has more than 1,000 apartments under way across Sydney having developed ­apartments in Burwood, Parra­matta, Homebush, Harris Park and Rockdale.
The Bay at Meadowbank is another project.
It has also recently marketed 250 apartments in its Parramatta Road, Homebush project, Grand Central, Homebush, which is a development site with 430 apartments scheduled for completion by 2016. Grand Central development will comprise two buildings, a 7-storey and 13-storey.
JQZ paid $30 million for the 10,000 square metre site at 6-18 Parramatta Road, which is its 10th Sydney project.
JLL had the council offering, the Australian Financial Review report said.
The local paper has advised that council received the first of four payments, a $5.6 million deposit, from Chinese developer JQZ as part of a deferred two-year sale.
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