The residential transformation of St Kilda Road is set to continue into with more new apartment plans for the sought-after boulevard.

Wing Tai Asia has lodged plans for a major residential tower at 464-466 St Kilda Road, replacing the former VACC House with an 18-storey mixed-use development designed around a retained heritage podium and a sculpted contemporary tower.

The proposal, prepared under Victoria’s Significant Residential Development with Affordable Housing pathway, would deliver 325 apartments and ground-floor retail across the prominent 4,653 sqm boulevard site in Melbourne’s St Kilda Road North Precinct.

The project centres on the adaptive reuse of the site’s heritage-listed VACC Building, an eight-storey office designed by Bernard Evans that has occupied the address for decades. Planning documents state the development would involve “carefully dismantling and conserving off-site the original metal fabric of the podium visible from St Kilda Road,” before reinstating it as the defining frontage of the new scheme.

Above the restored podium, Wing Tai is proposing a curvilinear residential tower. The scheme includes 172 one-bedroom apartments, 63 two-bedroom apartments, 66 three-bedroom apartments, and 24 four-bedroom apartments, alongside two ground-floor food and beverage tenancies fronting St Kilda Road.

The tower has been designed with substantial articulation and variable setbacks to minimise perceived bulk and maintain view corridors along the boulevard. Urbis, which prepared the planning report, said the design “has been significantly articulated through a curvilinear design” with “an interplay with materials, façade expression and depth” to create visual separation and visual interest.

The proposal also includes 254 basement car spaces, landscaped pedestrian links connecting St Kilda Road and Queens Lane, and a biophilic landscape strategy featuring canopy trees, raised planters, cascading greenery and a glass oculus pool overlooking the eastern frontage.

Planning documents confirm the $270.1 million development will contribute 3 per cent of project costs to the Social Housing Growth Fund as part of the application process.

Wing Tai acquired the St Kilda Road property in 2018 alongside Abacus Property Group for $95.38 million, before later consolidating ownership of the site. The property previously served as the Victorian Automobile Chamber of Commerce headquarters for around 60 years.

The transformation of the St Kilda Rd boulevard is already beginning to materialise, with a number of high-profile projects recently completed, launched, or approaching launch as developers continue to back the long-term appeal of the precinct.

Among the most notable recent completions is Louise by Samuel Property Group, just off the strip on Queens Lane, the same pocket Hirsch &amp; Faigen recently launched The Queensbury. Mirvac is too on the same street with The Albertine, which is approaching completion.

Dexus recently secured approval for its slice of St Kilda Road, while Gurner also has approved plans for the precinct.

Joel Robinson

Wing Tai unveils 325-apartment St Kilda Road tower on former VACC House site

Malaysian developer <a href="https://www.apartments.com.au/developers/s-p-setia">SP Setia</a> is the latest to jump into St Leonards booming Transport Oriented Development precinct.

The developer, which has previously delivered Sapphire by the Gardens apartment development in Melbourne, identified the Atchison Street site in 2023. It filed a Scoping Report around 12 months ago, and now has revealed the designs for the new&nbsp;40-storey mixed-use tower.

The State Significant Development Application covers <a href="https://next-portal.urban.com.au/projects/14650/summary">20-22 Atchison Street</a>, a 1,374 sqm site positioned between St Leonards Station and the new Crows Nest Metro station.

Designed by <a href="https://www.apartments.com.au/architects/cox-architecture">COX Architecture</a>, the project would deliver 181 apartments, above a four-storey commercial podium, five basement levels, and new public domain works along Mitchell Street. The apartment mix comprises 35 one-bedroom apartments, 39 one-bedroom-plus-study apartments, 85 two-bedroom apartments, and 22 three-bedroom residences.

The proposal has been lodged as a shop-top housing development under the NSW Government’s TOD planning pathway, which allows increased density around key transport infrastructure. The site sits within the recently rezoned Crows Nest Accelerated TOD Precinct.

<img alt="First look: SP Setia targets St Leonards skyline with 40-storey TOD tower" data-entity-type="file" data-entity-uuid="b799673d-48e2-46b0-801a-0e33a9330100" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/atchinson%20site.png?VersionId=dPh0UfwfaHpbFL1R7H1cbZNbIW0CHbCC" />

SP Setia acquired the Atchison Street site as part of its continued expansion into the Australian apartment market. In comments made to City &amp; Country (The Edge Malaysia) in 2023, SP Setia President and CEO Datuk Choong Kai Wai described the acquisition as “a strategic move” aligned with the group’s post-pandemic market recovery strategy.

“Our target for this exceptional development is local and overseas buyers, including first-home buyers, downsizers and investors,” Choong said.

The tower has been designed as a slender vertical form rising from a mixed-use podium, with COX Architecture positioning the development as a response to the evolving St Leonards and Crows Nest skyline.

“The purpose of the project is to facilitate the delivery of high-quality housing at a strategically located site and deliver a built tower outcome that is consistent with the desired future character of St Leonards and aligns with the TOD controls,” the design report stated.

<img alt="First look: SP Setia targets St Leonards skyline with 40-storey TOD tower" data-entity-type="file" data-entity-uuid="b1a85eee-76f7-436c-a6da-73ba827b9b13" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/atchinson%20entry.png?VersionId=dA9jHGPMcm.dDbwk4QfxqWiY5bfh3UVt" />

The podium would incorporate retail uses fronting Atchison Street, commercial tenancies, landscaped communal areas, and pedestrian improvements along Mitchell Street. Vehicle access and loading would be consolidated via Atchison Lane.

Residents would have access to more than 665 sqm of communal indoor and outdoor spaces, while the development proposes 96 parking spaces across five basement levels.

The proposal also includes a commitment for 10 per cent of residential floor space to be allocated toward affordable housing through a monetary contribution.

COX said the tower form responds directly to the emerging high-density character of the precinct while seeking to maximise solar access, cross ventilation, and outlook from apartments.

<img alt="First look: SP Setia targets St Leonards skyline with 40-storey TOD tower" data-entity-type="file" data-entity-uuid="2163f85c-f63b-4be3-aafa-f8763976cec5" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Article%20Feature%20Image%20%28Grid%29_5.png?VersionId=WiAmtIKJ6.ZQ41EtYEQ1fol7AeorKBlL" />

“The building is orientated towards north,” the Apartment Design Guide compliance report noted, adding that the tower’s slim form was driven by the constrained inner-urban site dimensions.

The design also incorporates landscaped setbacks and communal open space at podium level, intended to soften the interface with surrounding streets and improve pedestrian amenity.

The project adds to a growing wave of redevelopment proposals reshaping St Leonards and Crows Nest following the opening of the Sydney Metro City line and the NSW Government’s push for higher-density housing around major transport nodes.

Last week Stockland filed plans just down the road. They want to build a <a href="https://www.apartments.com.au/new-apartments/601-pacific-highway-st-leonards-nsw-2065">52-storey tower on Pacific Highway</a>.

Read more:&nbsp;<a href="https://www.apartments.com.au/news/nsw/first-look-stockland-plans-52-storey-538-apartment-st-leonards-tower">First look: Stockland plans 52-storey, 538-apartment St Leonards tower&nbsp;</a>

First look: SP Setia targets St Leonards skyline with 40-storey TOD tower

<a href="https://www.apartments.com.au/developers/urban-property-group">Urban Property Group</a> has revealed plans for a new mixed-use tower at 10 Dangar Street, Wickham, advancing a proposal that would reshape the southern gateway to Newcastle’s city centre with one of the city’s tallest residential buildings.

The State Significant Development proposal, now on exhibition, seeks approval for a <a href="https://www.apartments.com.au/new-apartments/bowline-10-dangar-street-wickham-nsw-2293">43-storey tower</a> immediately adjacent to the Newcastle Interchange. The project would deliver around 200 apartments, including 42 affordable housing dwellings, alongside 99 co-living units, a 171-room hotel, retail space, and new public domain integrated through the site.

The scheme marks a significant escalation of plans previously approved for the site. Urban Property Group took over the prominent 2,904 sqm parcel, where excavation and demolition had already commenced under an earlier consent for a 14-storey mixed-use development.

<img alt="First look: Urban Property Group unveils Newcastle’s next supertower at Wickham interchange" data-entity-type="file" data-entity-uuid="58a96dd9-407f-4d20-86b4-94e4bfeef74b" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/wickham%20podium.png?VersionId=LGlf08pdFGAZDzvx_CXC4XakHNZRuEE0" />

Designed by <a href="https://www.apartments.com.au/architects/sjb-architects">SJB</a>, the tower has been conceived as a landmark transit-oriented development anchored to the Newcastle Interchange precinct. The proposal includes 245 build-to-sell apartments across a mix of one, two, and three-bedroom residences, as well as two penthouses. Fifteen apartments and one operational unit are earmarked for NDIS housing. The co-living component would add a further 99 units, while the podium would accommodate retail uses and hotel facilities.

SJB said the site presents “a valuable opportunity to anchor the precinct by setting the standard for design, active ground planes and character at the key southern gateway.”

The architecture responds directly to the site’s position beside major transport infrastructure and within one of Newcastle’s fastest-evolving urban renewal precincts. The tower form sits above a sculpted podium designed to frame new public spaces, including a through-site pedestrian link connecting Station Street to Hannell Street, landscaped plazas, and activated retail edges.

<img alt="First look: Urban Property Group unveils Newcastle’s next supertower at Wickham interchange" data-entity-type="file" data-entity-uuid="a7bd6ff0-f7db-4ce8-a6dc-ea56e72c6149" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/wickham%20lanne.png?VersionId=xzf39VADyhj7zBQY2I9fx9vI62u2tuSb" />

The design report describes the project as part of the broader transition of Wickham into “a vibrant, high-quality mixed-use urban precinct” that leverages proximity to the station, open space, and regional connectivity.

A detailed public art strategy has also been prepared for the development. The strategy positions the project as “a transit-oriented development of state significance at the gateway to Newcastle’s city centre” and outlines a series of integrated artworks responding to Newcastle’s industrial and transport heritage.

Creative Road’s curatorial framework for the project, titled Unveil, draws on “stratified surfaces, carved volumes, and light-filled apertures” while referencing Newcastle’s transformation from an industrial city into a contemporary education and technology hub.

<img alt="First look: Urban Property Group unveils Newcastle’s next supertower at Wickham interchange" data-entity-type="file" data-entity-uuid="77a882bb-14b1-4d28-99ff-9438e39508c0" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/wickham%20site.png?VersionId=cevgo_vN0eKPK78P8YcEu3mKPLkpFqE7" />

The proposal is being advanced through the NSW Housing Delivery Authority pathway after being declared State Significant Development in June 2025. The accompanying scoping report states the development aims to “maximise the site’s proximity to the Newcastle Interchange by delivering transit-oriented development” while increasing housing supply and affordable housing provision within the Newcastle LGA.

Urban Property Group’s plans align with the long-term strategic vision established under the Wickham Master Plan, which identified the interchange precinct as suitable for substantial uplift in height and density. The current proposal would significantly intensify that vision, positioning the tower among the tallest developments proposed for Newcastle.

The site sits immediately north of the Newcastle Interchange, bounded by Dangar Street, Hannell Street, and Charles Street. It is surrounded by a rapidly growing cluster of residential towers and mixed-use projects that have emerged following the completion of the light rail and transport interchange.

First look: Urban Property Group unveils Newcastle’s latest tower at Wickham interchange

Bottega House has completed settlement of a landmark riverfront site in Macquarie Street, St Lucia, representing its first major Brisbane development.&nbsp;

Positioned on the banks of the Brisbane River, the <a href="https://www.apartments.com.au/new-apartments/180-macquarie-street-st-lucia-qld-4067">premium site at 180 Macquarie Street</a> features uninterrupted river frontage in one of Brisbane’s most tightly held residential precincts.&nbsp;

The proposed development, currently under assessment with Brisbane City Council, has been designed by <a href="https://www.apartments.com.au/architects/plus-studio">Plus Studio</a> with interiors by <a href="https://www.apartments.com.au/interior-designers/mim-design">Mim Design</a> and will deliver a boutique collection of premium residences positioned specifically for owner occupiers and downsizers.&nbsp;

The residences are set to redefine luxury apartment living in the area, with a focus on architectural quality, refined finishes, landscape integration and elevated amenities including curated wellness facilities, resort-style pools and recreation spaces rarely seen in the local market.&nbsp;

Exclusive sales for the project will be led by Keenan &amp; Byrne, ahead of an anticipated launch later this year.&nbsp;

Bottega House Managing Director Nick Malloch said the project reflects the group’s ambition to deliver a highly curated residential offering within one of Brisbane’s most tightly held precincts.&nbsp;

“This is an incredibly rare riverfront opportunity and one we have approached with a long-term perspective,” Malloch said.&nbsp;

“Our vision from the outset was to create a boutique collection of residences that feel more like private homes than traditional apartments, with generous proportions, refined finishes and exceptional amenity throughout."

Malloch says there is a&nbsp;lack of premium owner-occupier stock of this quality in the market, particularly for downsizers wanting space, privacy and a true lifestyle offering without compromise.&nbsp;

"Demand is expected to be strong given the scarcity of premium riverfront opportunities of this nature within Brisbane’s inner-west."&nbsp;

Bottega House secures landmark riverfront site in St Lucia 

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The arrival of the first piling rig officially marks the commencement of construction at SIERA’s new beachside apartment development, Exhale, in Northcliffe.

<a href="https://www.apartments.com.au/new-apartments/exhale-surfers-paradise-8-enderley-avenue-surfers-paradise-qld-4217">Exhale</a>, a glass-encased tower featuring 54 large-scale apartments at 8 Enderley Avenue, is SIERA’s third Gold Coast development. It follows the recently completed PIPIS Bilinga beachfront project, which achieved suburb-record prices, and the soon-to-be-completed Chevron Island development, Tapestry.

[smartcode_project:default project_id=112661 project_image_fid=359603]

<a href="https://www.apartments.com.au/developers/siera">SIERA</a> Founder and Managing Director Brent Thompson said the arrival of the piling rig represented a significant milestone for the development, which is scheduled for completion in late 2028.

Over the next month, around 260 piles are expected to be installed as work progresses on the basement structure. The building is anticipated to rise above ground level early next year, before unveiling its sculptural glass curtain wall, developed in collaboration with specialist façade engineers.

“The façade was designed to maximise panoramic coastal views while creating a distinctive architectural identity,” Thompson said.

[smartcode_project:default project_id=112661 project_image_fid=355935]

Designed by BDA Architecture, Exhale will comprise just 54 two- and three-bedroom residences across 26 levels, a level of low-density living rarely delivered in this beachside pocket between Surfers Paradise and Broadbeach.

The project has been conceived as a resident-only building, with no short-stay accommodation permitted. SIERA says the model is intended to appeal to long-term owner-occupiers rather than transient holiday demand.

[smartcode_project:default project_id=112661 project_image_fid=361052]

Residences have been designed with large-format layouts and expansive glazing, with most apartments featuring more than 30 metres of glass frontage to maximise natural light and ocean views.

The amenity offering spans two levels and centres on wellness and lifestyle, including a heated magnesium pool, sauna, yoga and Pilates studio, gymnasium, private dining facilities, cinema lounge, and dedicated surfcraft storage.

[smartcode_project:default project_id=112661 project_image_fid=359607]

More than half of the apartments have already sold. SIERA has also opened a sales gallery for Exhale at its Chevron Island commercial premises, near its Tapestry tower and the site of its second Chevron Island apartment development, which is slated to launch in early 2027.
</section>
</section>

[smartcode_project_cta:default project_id=112661]

SIERA kicks off construction at Northcliffe tower Exhale

Commercial

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International retailer Muji has announced it will open its first flagship store in Sydney on May 14.
<a href="https://www.facebook.com/muji.au" target="_blank">The homewares store </a>will be at The Galeries.
The Japanese emporium has more than 600 outlets worldwide, plus two stores in Melbourne, including Chadstone Shopping Centre. 
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jchancellor-FAypfDUnLy

Muji to open flagship Sydney store

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Federation Centres (FDC) announced its update for the quarter ended 31 March 2015 delivering net operating income up 3.6% for the nine months to March 2015 compared to the prior corresponding period. 
The leasing spread was maintained at 3.2%, in line with the half year result, with 585 transactions completed for the nine month period. 
Annual sales growth for the year to 31 March 2015 was 1.0%, with specialty retailers recording annual sales growth of 2.3%. 
The occupancy rate was 99.4%.
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Federation Centres chief Steven Sewell noted ongoing strength in the specialties category. 
 
<img src="/images/2015/05/06/Picture%2020.png" alt="">
Source: FDC 
There was also an improvement in the Discount Department Stores and Department Stores categories, compared with their December 2014 annual sales performance. 
Mini Majors performed well, although sales moderated as new entrants in this category saw sales stabilise after buoyant initial trading.
Redevelopments at Warriewood Square in New South Wales and Halls Head in Western Australia are progressing well and initial works have commenced for the second stage of the redevelopment at Colonnades in South Australia. 
Approval for redevelopment plans for Mandurah Forum was also recently received. 
<img src="/images/2015/05/06/Picture%2021.png" alt="">
Source: FDC 
The first stage of the Cranbourne Park redevelopment opened on time and fully leased during the quarter.
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The previously announced sales of Woodlands in Queensland and Mildura and Warrnambool in Victoria all settled during the quarter.
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Specialities retail strength reported by Federation Centres 

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The former site of the Cabramatta Fire Station has sold at auction for $2.1 million to a local Asian investor, the Lu Group.  
The 613 square metre site sits on Cabramatta Road West attracted strong interest from developers and investors.
It was sold by Colliers agent Harry Bui with a floor Space Ratio (FSR) of  1.5:1 with maximum height limit of 10 metres. 
Harry Bui advised 15 buyers attended the auction for Fire and Rescue NSW.
With a B4 Mixed Use zoning under the Fairfield LEP 2013, the site may be developed for retail, commercial and residential use.
The district's first Fire Brigade was established elsewhere at Cabramatta in January 1928 as Brigade Number 49 on Railway Parade.
The station was also known as Cabramatta-Canley Vale with the first permanent staff were appointed to the station in 1955. 
Cabramatta Fire Station was incorporated into the Sydney Fire Department in 1959. 
A new station was established in 1969 on West Cabramatta Road.
In 2000, Cabramatta Fire Station was located at 259 Cabramatta Road in West Cabramatta.
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 Former Cabramatta fire station sells for $2.1 million

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The Salvo Property Group has paid $6.28 million for a Southbank residential development site.
The<a href="https://www.realcommercial.com.au/property-land+development-vic-southbank-501442827"> 39-51 Hancock Street</a> property is a vacant 632 square metre block on the corner of Clarendon and Hancock Streets abutting the Westgate Freeway.  
Savills’ Nick Peden and Clinton Baxter, who brokered the deal, said the property was originally acquired by VicRoads in the 1970s for construction of the Westgate Freeway.
It was positioned within the Capital City Zone which permits and promotes higher density development up to 100 metres (or 33 levels) in height. 
The Salvo Property Group has a reputation of creating affordable luxury.
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Salvo buy Southbank site through Savills

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Ray White’s commercial property auctions in the March quarter of 2015 achieved an 83% clearance rate for investment auctions, according to the group’s inaugural Auction Insights report.
Ray White Commercial senior director Auctions and Investments, Richard Impiombato, said 15 of the 18 investment properties were sold for a total of $30.203 million.
There was an average of five registered bidders per property.
“Passive investment property with the ‘trifecta’ of a long lease, secure covenant and attractive location are in strong demand,” Richard Impiombato said.
Ray White Commercial took 55 properties to auction nationwide during the March quarter for an overall clearance rate of 58.18% and total sales of $52,641,000.
He said of the 32 sold properties, 15 were sold under the hammer, 10 post-auction and seven prior to auction.
Sales over the March quarter were $12 million for a residential development site at Surry Hills in Sydney and $7.3 million for an investment sale at Cranbourne in Melbourne.
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Five bidders for every Ray White Commercial investment auction

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Sydney's City Tattersalls Club has chosen ICD Property and Sinclair Brook to as development partners for its proposed redevelopment.
According to City Tattersalls Club chief executive Tony Guilfoyle, the mixed-use redevelopment, which will include apartments, will help "reduce the Club's financial dependence on gaming".
Patrick Campion, the chairman of City Tattersalls Club, said the club had received strong interest from developers during its four-month expression of interest process.
"We believe that the ICD Property and Sinclair Brook proposal has the greatest benefit to our members and is in their best interests," Campion said.
"The Club briefed its members yesterday and the feedback has been overwhelmingly positive."
ICD Property's projects include the 663-apartment Eq. Tower, which is currently being built in the Melbourne CBD. The developer's managing director, Michael Mai, said the project would deliver apartments to an "under-supplied market".
Sinclair Brook is the developer behind Australia 108, the Southbank apartment tower that is set to become the tallest building in Melbourne.
Elenberg Fraser has designed the development concept for the 194-204 Pitt Street premises. The project is due to be completed in 2020.
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jrichardson-uRX5hFdKfN

City Tattersalls Club announces development partners

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The past 24 months have seen a significant increase in commercial property capital values with limited rental growth, according to the GPT Chief Investment Officer, Carmel Hourigan.
"Our expectation is that capital values will increase again in 2015 driven by rental growth and a reduction in returns required by investors," Hourigan said at a presentation for CEDA's Property Outlook 2015.
She noted Australian commercial property values are yet to reach historic highs despite historic low bond yields and other ‘global’ cities recording all time low property yields.
Her speech noted two key structural factors influencing capital values:
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<li>"The globalisation and liberalisation of capital flows leading to new investors in the Australian property market; and 
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<li>"An ageing population driving a hunt for income generating assets. The fact is a government bond at 2.4% is simply not enough to fund an Australian’s retirement. 10 years ago that number was 5.6%, now it is half. As a result, investors are accepting moderately higher risk to invest in real estate and infrastructure.</li>
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"On the cyclical side, the global and domestic economic recovery has also led to a strengthening in income from commercial property, however the recovery has been slower and growth is expected to remain moderate.
"Australian corporate profit growth remains heavily reliant upon cost reduction rather than revenue growth and this will lead to continued pressure on rents."
Since the GFC in 2008, Hourigan noted capital values have slowly recovered and are on their way to getting back to the previous peak.
Transaction volumes or the amount of money actually being spent buying and selling commercial property is also tracking well above the height of the last cycle which reflects offshore buyer and merger and acquisition activity.
The majority of activity of that activity has been in the office sector in particular in gateway cities on the eastern seaboard.
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Australian commercial property values are yet to reach historic highs: GPT's Carmel Hourigan

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Kuwaiti sheikh Mubarak Abdullah Al-Mubarak Al-Sabah won a recent Victorian Civil and Administrative Tribunal (VCAT) hearing that granted permission to remove covenants on his Port Melbourne development site.
The sheikh owns developer Action Group Australia, which owns 1-5 Waterfront Place.
The company wants apartments possibly up to 10 storeys adjacent to the Station Pier entrance.
The covenants on the land's title were restricting the development.
The Kuwaiti billionaire bought the site for $21 million in 2007 through the Australian arm of the sheikh’s company that also operates hotels in Melbourne and Brisbane.
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Kuwaiti sheikh wins latest round in Port Melbourne planning dispute

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The Pacific Royale, Surfers Paradise has been listed for sale as a development site.
The Gold Coast whole block offering is listed through Colliers International agents Darrell Irwin and Geoff Lamb.
<a href="https://rca.colliers.com.au/property-land+development-qld-surfers+paradise-501511035" target="_blank">Tenders closed yesterday, 28 April</a>, for the 44 apartments over 14 levels.
It is a 2,251 square metre site at 7 Northcliffe Terrace on Maxwell Avenue corner.
Surfers Royale Limited owns and operates the Surfers Royale timeshare resort.
The operational management of the company is contracted to Surfers Royale Management Pty Limited, who sub-contracts to Classic Leisure Pty Limited.
The names of the directors have been Anthony Wilson, Frankie Bonomo and Carole Smith, who has over 25 years experience in the timeshare and tourism industry. 
The result from operations was a profit after tax for the year ended 30 June 2014 of $262,875 (2013: loss of 206,941). 
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Surfers Royale, Surfers Paradise whole block offering

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The Canadian fund manager, Ivanhoé Cambridge has partnered with Blackstone Property Partners Asia to buy a 25% stake in Liberty Place, a 42-storey office and retail Sydney tower.
Liberty Place at 161 Castlereagh Street includes 60,176 square metres of office space and 4,425 square metres of retail. 
The $240 million property, which houses the headquarters of ANZ Bank, was sold by LaSalle Investment Management. 
The GPT Group has a 50% share and ISPT holds 25%. 
The acquisition is the first direct investment in Australia's commercial property market by Ivanhoé Cambridge, which holds assets worth more than A$44 billion. 
"Ivanhoé Cambridge continues to explore the possibilities of increasing our investments in Australia and in other parts of the Asia-Pacific region in 2015," said Rita-Rose Gagné, executive vice president for Growth Markets for Ivanhoé Cambridge.
This week a major Queensland pastoral holding <a href="/news/canadian-pension-funds-buys-sir-graham-mccamley-farms">sold to Canadian pension fund interests</a>.
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