Mark and Roy Makari are expanding their presence in Sydney’s South West with a second major proposal for Leppington, this time envisioning a 900-dwelling mixed-use development just 850 metres from their previously lodged tower trio on Fifth Avenue.

The latest application seeks approval for a multi-building project at <a href="https://www.apartments.com.au/new-apartments/230-rickard-road-leppington-nsw-2179">230 Rickard Road, Leppington</a>. The proposal seeks to establish a new focal point for the precinct through a high-density, transit-oriented development supported by diverse land uses.

According to the Scoping Report prepared for the Department of Planning, the scheme includes around 900 apartments across multiple towers, including 135 dwellings designated for affordable housing. A mix of market and subsidised apartments will be supported by ground-level activation through retail and office space, a childcare centre, and a hotel, forming a comprehensive urban precinct.

<img alt="Mixed Use Development 230 Rickard Rd Leppington" data-entity-type="file" data-entity-uuid="34797362-f3dc-4d84-8235-2657fc5f3bde" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Plan.png?VersionId=Uzckrz9tUpDQl5lX1_WMhjnv16bsr8wG" />

The Design Report by <a href="https://www.apartments.com.au/architects/studiosc-0">Studio SC</a> notes that the project “intends to deliver a high-quality, high-density built form that supports the vision for the Leppington Town Centre, integrating mixed-use outcomes and public domain upgrades.” The development is expected to be delivered in stages, although a precise timeline is yet to be confirmed.

The project will be assessed through a future State Significant Development Application, with the Scoping Report indicating the team will seek design excellence via a competitive process or through an expert design review panel. Early massing diagrams suggest a series of mid- to high-rise buildings framing a central landscaped spine, with emphasis on pedestrian permeability and public space.

The planning documentation flags a strong sustainability agenda, stating that the development will “respond to the urban heat island effect, incorporate water sensitive urban design, and prioritise active transport”.

<img alt="Mixed Use Development 230 Rickard Rd Leppington" data-entity-type="file" data-entity-uuid="369d7b54-1279-4cde-88ec-dcb215594414" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Podium_1.png?VersionId=QArL7B2kkLt63vl5xvL0FNV_ardAlez4" />

The proposal follows in the footsteps of the Makaris’ nearby Fifth Avenue site, where they’ve submitted plans for three towers comprising nearly 500 apartments, with 10 per cent dedicated to affordable housing. That project features commercial podiums, a childcare centre, and a new public park that would occupy more than a third of the site.

Both developments are situated within walking distance of Leppington Train Station and fall under strategic precinct plans promoting higher density housing. The town centre is undergoing substantial transformation, driven by state government planning reforms aimed at fast-tracking housing delivery.

Together, the two projects represent a combined ambition of nearly 1,400 new homes across just under two kilometres of central Leppington.

Staff Writer

First look: 900-home mixed-use precinct planned for Leppington

Leading Australian integrated property development group, <a href="https://www.apartments.com.au/developers/aqualand-australia">Aqualand</a>, has released the signature penthouses crowning its landmark AURA by Aqualand precinct at 168 Walker Street in North Sydney, unveiling Il Magnate and La Divina as the largest and most luxurious penthouses in the suburb.

With prices anticipated to commence from $15 million, and each accompanied by a new Porsche Carrera 911 valued at over $500K, the residences mark the culmination of <a href="https://www.apartments.com.au/buildings/aura-by-aqualand-north-sydney-168-walker-street-north-sydney-nsw-2060">AURA by Aqualand</a>’s decade-long journey and the beginning of its final sales chapter. 
&nbsp; 
Their release follows more than $850 million in record-breaking residential sales and the building’s completion and occupation.

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The Richards Stanisich-designed 284 sqm Il Magnate and 224 sqm La Divina penthouses, collectively known as The Icons of AURA, are conceived as grand luxury homes rather than apartments, with expansive proportions, elevated materiality and curated identities that reflect their status as one-off residences.&nbsp;

Il Magnate features a grande master suite, complete with substantial walk-in dressing area and ensuite, three other bedrooms, second ensuite and another bathroom, powder room, open plan kitchen, scullery, substantial dining area and generous living room divided by a feature fireplace, and a multifunction wintergarden, which is ideal for a study and adjoining office breakout space. &nbsp;

Meanwhile, the La Divina residence offers the same amenities, sans the powder room, on a slightly smaller alternate floor plan configuration.

[smartcode_project:default project_id=30959 project_image_fid=358863]

Each occupies half of AURA by Aqualand’s topmost 28th level, comes with four secure car spaces and pairs sweeping Sydney Harbour panoramas with large-scale living spaces, refined detailing and a level of craftsmanship and amenity rarely offered in the North Shore market.&nbsp;

Penthouse residents will also receive Etymon’s ‘Black Key’ private concierge and lifestyle management service, an invitation only offering providing the ultimate in bespoke personalisation, including a range of everyday discrete services, from dinner party management, grocery deliveries, pet feeding or plants watered, dinners, snacks and coffee deliveries, event ticket sourcing, right up to organising travel visas and international airfares. Rarely seen in Australian properties, the service provides residents the benefits of living in a world-class luxury hotel-style home, akin to The Ritz, or the Waldorf Astoria.

[smartcode_project:default project_id=30959 project_image_fid=358862]

<a href="https://www.apartments.com.au/interior-designers/richards-stanisich">Richards Stanisich</a>’s Director, Kirsten Stanisich, said the studio set out to craft residences that feel profoundly considered, contemporary and deeply connected to their setting.

“From the outset, we approached these penthouses with the sensibility of a grand Parisian residence - generous in scale, elegant in proportion and designed to feel more like a handcrafted home than an apartment," Stanisich said.

“Their elevated position and sweeping harbour outlook informed every decision, creating a rare connection between urban sophistication and natural calm. We shaped each space with expressive materiality, sculptural forms and bespoke detailing that invite touch and interaction.&nbsp;

“The result is a pair of residences defined by volume, light and an inherent softness - refined, flexible and deeply personal. These penthouses are unlike anything else in North Sydney, offering a sanctuary of true luxury framed by some of the city’s most remarkable views.”

For Aqualand’s Head of Sales &amp; Marketing, Alex Adams, the collaboration with Porsche underscores the shared ethos behind the residences.

“Aqualand’s collaboration with Porsche underpins both brand’s sharing an obsession with craftsmanship, design excellence, and enduring value," Adams said.

“Our penthouses are created for those who appreciate the finer details and expect the extraordinary at every touchpoint. Including a Porsche simply extends that experience beyond the residence - it’s a continuation of the lifestyle our buyers already live.”&nbsp;

[smartcode_project:default project_id=30959 project_image_fid=292862]

Aqualand’s Managing Director, Jin Lin, said the penthouses represent both the pinnacle of AURA by Aqualand and an important design benchmark for the company’s future pipeline.&nbsp;

“These stunning penthouses reflect the purest expression of Aqualand’s design ambition," Lin said.

“The unparalleled design intent makes them not only the glistening crown of AURA by Aqualand, but the crown of North Sydney itself. They’re essentially a thank you gift to a burgeoning community that deserves this level of quality and architectural consideration.&nbsp;

“We’re leveraging the unrivalled standard set here as the foundation for what comes next, including our upcoming Anderson Street, Chatswood; 15 Blue Street, North Sydney and Central Barangaroo projects. Purchasers of these penthouses will essentially be living inside the blueprint of Aqualand’s future.

“These landmark residences demonstrate how far North Sydney has evolved and the strength of demand for highly curated, bespoke luxury homes. They’re more than penthouses, they’re legacy residences.&nbsp;

“With AURA by Aqualand now a thriving new precinct with residents well and truly settled, and our in-house world-class lifestyle amenity activated, Il Magnate and La Divina represent a once-in-a-lifetime opportunity to secure an extraordinary piece of North Sydney’s future.”

[smartcode_project_cta:default project_id=30959]

Joel Robinson

Aqualand launches North Sydney penthouses with free Porsche Carrera 911

<a href="https://www.apartments.com.au/developments/bokarina-qld-4575">Bokarina</a> Beach has quietly evolved into one of the Sunshine Coast’s most complete coastal lifestyle precincts, defined not just by proximity to the ocean, but by how residential living, local retail and everyday amenity are stitched together.&nbsp;

Gardner Vaughan Group’s <a href="https://www.apartments.com.au/new-apartments/bask-bokarina-38-bokarina-boulevard-bokarina-qld-4575">Bask Bokarina</a> now represents the final residential chapter in that transformation.

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Over recent years, the Bokarina Beach precinct has taken shape as a walkable, community-oriented neighbourhood, anchored by beachfront access, Lake Kawana to the west, and a growing mix of cafés, specialty retail and public open space.&nbsp;

With Zinc Bokarina already delivered next door by <a href="https://www.apartments.com.au/developers/gardner-vaughan-group">Gardner Vaughan Group</a> (GVG), Bask is the last opportunity to buy a brand new apartment within the precinct, effectively rounding out a fully formed coastal village.

GVG has positioned Bask to strengthen that lifestyle framework. Nine ground-floor retail spaces are planned beneath the residences, extending Bokarina Boulevard’s existing activity and reinforcing the area’s everyday convenience, from casual dining and coffee to local services, within a short walk of the beach.

[smartcode_project:default project_id=141609 project_image_fid=333359]

The residential component comprises 135 apartments across two buildings, Mydas and Caretta, with a clear shift toward larger three- and four-bedroom layouts and penthouses. That mix reflects a maturing buyer profile in Bokarina, where demand is increasingly led by owner-occupiers and active downsizers seeking space, permanence, and connection to place rather than short-term coastal accommodation.

Design and amenity have followed the same logic. Residents will have access to a heated plunge pool, gym, private dining room with a full kitchen, landscaped communal gardens with barbecues and a firepit, and a shared herb and vegetable garden, facilities intended to support daily use rather than resort-style turnover. Pet-friendly features, including a dog wash bay, acknowledge both buyer expectations and the area’s dog-friendly beach, located around 250 metres from the site.

[smartcode_project:default project_id=141609 project_image_fid=333366]

“Bokarina has become one of the Sunshine Coast’s most desirable beachside communities, and Bask represents the very last chance to buy new in this location,” GVG Director Sam Gardner said.&nbsp;

“Our focus has been to create spacious, functional apartments that meet the needs of locals who want to downsize without compromise, as well as those seeking a full-time coastal retreat.”

Positioned between the Pacific Ocean and Lake Kawana, Bask apartments have been oriented to capture outlooks toward the water or the Glass House Mountains, reinforcing the project’s connection to its natural surroundings. With parks, beachfront paths, hospitals, retail and public transport already in place, Bask arrives at a point where the broader precinct is no longer emerging, but established.

Construction is expected to complete in Q3 this year, with apartments ready to move into this Spring.

[smartcode_project_cta:default project_id=141609]

Bask to complete Bokarina’s Sunshine Coast lifestyle precinct as final apartments are released

Property development giant <a href="https://www.apartments.com.au/developers/avid-property-group">AVID Property Group</a> is approaching completion, and sell-out, of its Surry Hills apartment development, <a href="https://www.apartments.com.au/new-apartments/the-rathbone-23-47-flinders-street-surry-hills-nsw-2010">The Rathbone</a>.

The Flinders St project has sold well over half of its 32 apartments, which will sit above two retail spaces.

Now hitting the market are the final 14 one-, two-, and three-bedroom apartments, which start from $1.15 million. AVID is targeting a mid-2026 completion.

[smartcode_project:default project_id=5947 project_image_fid=51208]

AVID General Manager New South Wales Danny Boubli said as more apartments are introduced to increase housing options in inner-city areas, homebuyers are searching for a &nbsp;sense of belonging in addition to location, convenience and value.&nbsp;

“There are very few opportunities for new developments in Surry Hills, and since acquiring the site, we’ve even seen one early purchaser merge two apartments plans together, reflecting the demand for a spacious, premium offering in a prime location,” Boubli said.&nbsp;

“Demand has been strong since we launched to market – we don’t see these final apartments staying on the market for long.”&nbsp;

Architectural firm Studio SC has designed the building which pays homage to the former 1900s Rathbone Terraces that once sat on the 990 sqm island site.

Boubil said the team has made every effort to create "truly liveable apartments", through&nbsp;functional floor plans, security, storage, and the inclusion of quality fittings.

[smartcode_project:default project_id=5947 project_image_fid=51207]

&nbsp;

Sustainable design has also been implemented throughout the development, with natural light flooding each apartment, ventilation throughout, extensive landscaping and where possible, materials with a high level of recycled content and low volatile organic compound paints have been used. &nbsp;

Apartments range in size from 57 sqm for the one-bedrooms to the large-scale 165 sqm three-beds which are priced at $2,575,000.

[smartcode_project_cta:default project_id=5947]

AVID launches final apartments at The Rathbone, Surry Hills

A wave of investment, renewal and precinct growth continues to shape the northern edge of Macquarie Park, where daily life is supported by a rare combination of university activity, corporate employment, major retail, and expansive green corridors. It’s this convergence of amenity and connectivity underpins the setting for <a href="https://www.apartments.com.au/developers/urban-property-group">Urban Property Group</a>’s <a href="https://www.apartments.com.au/new-apartments/la-vera-94-talavera-road-macquarie-park-nsw-2113">La Vera</a>, which has now topped out and is tracking toward completion in mid-2026.

Within this pocket of the precinct, residents move easily between the area’s key anchors. Macquarie Centre, home to more than 360 retailers, fresh food offerings, dining and entertainment, sits at the heart of local convenience and functions as a major transport interchange. The Metro, T1 rail line and extensive bus network place much of Sydney within quick reach, while surrounding arterial links support direct access to neighbouring districts.

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Green space remains a defining feature of the immediate environment. Lane Cove National Park stretches along the northern boundary of the precinct, offering bushland trails, cycling routes and quiet riverfront pockets. Shrimptons Creek and the campus grounds of Macquarie University extend these recreational networks, softening the urban setting and creating a daily connection to nature that informs the project’s architectural response.

<a href="https://www.apartments.com.au/architects/cox-architecture">Cox Architecture</a> have shaped La Vera around these contrasts. The building’s northern elevation adopts an organic, curvilinear form that mirrors the natural topography of the national park. Three sculpted forms soften the tower’s profile and encourage a stronger transition between indoor living areas, balconies and the broader landscape.

[smartcode_project:default project_id=134951 project_image_fid=223737]

Cox Director Felipe Miranda says the building’s outlook played a central role in the design process.

“The vision for the project was to conceive a building that adopted an organic and curvilinear form to the northern portion that faces the Lane Cove National Park… The residents that reside in the northern portion of the building benefit by having beautifully crafted curved balconies that speak to the natural context and heighten the relationship of their internal living spaces to the external balconies,” Felipe Miranda of Cox Architecture said.

Toward the city-facing side, the design shifts to a more urban expression. A gridded facade and extensive glazing capture CBD views, creating a dual strategy that blends ecological outlooks with metropolitan orientation.

[smartcode_project:default project_id=134951 project_image_fid=5827]

La Vera delivers 169 residences across one- to four-bedroom layouts, reflecting the needs of young families, downsizers, first-home buyers and investors seeking long-term certainty within a high-amenity location. From the project, residents can walk to Macquarie University, Macquarie Hospital and nearby corporate offices, reach national park trails within minutes, and enjoy retail and dining without relying on a car.

The project is delivered by Urban Property Group, a 4.5-star iCIRT-rated developer-builder with more than three decades of experience. The company has become a leader in adopting 10-Year Latent Defects Insurance (LDI), first introduced on its Parq Bexley development and now embedded into its pipeline.

[smartcode_project:default project_id=134951 project_image_fid=223727]

La Vera is the first development in Macquarie Park approved to offer this 10-year LDI policy, adding another layer of protection for purchasers and reinforcing the transparency of the construction process.

Urban Property Group CEO Patrick Elias says this assurance has become increasingly important for buyers navigating the off-the-plan market.

“Consumers are a lot more weary and a lot more concerned in buying off the plan than they ever have been… Having LDI is a tool to portray the confidence that we have in our product, and a confidence we want buyers to share,” Urban Property Group CEO Patrick Elias said.

Urban Property Group's in-house construction team is forecasting a mid-2026 completion, with <a href="https://www.apartments.com.au/project-marketer/home789">HOME789</a> appointed as the project marketer.

[smartcode_project_cta:default project_id=134951]

La Vera delivers a nature-connected address within Macquarie Park’s core

Dandenong

The Andrews Labor Government is getting on with transforming central Dandenong into a vibrant new residential, retail, and commercial hub.

Minister for Transport Infrastructure Jacinta Allan today announced the Revitali​sing Central Dandenong project has taken another step forward, with the project&rsquo;s next phase draft masterplan released by Melbourne developer Capital Alliance for community feedback, along with design renders to give locals a glimpse of what it will look like.

&ldquo;We encourage locals to have their say on the draft masterplan and will continue to work with them on progressing this project &ndash; which will transform Dandenong and create thousands of jobs at a time our community needs them most,&rdquo; said Minister Allan.

The draft masterplan showcases the proposal for Dandenong and includes creating at least 470 new dwellings, a hotel and conference centre, offices and community spaces. An urban brewery entertainment district will also be built, as well as an education facility, retail, a medical facility, a cinema and dining.

&ldquo;We&rsquo;re proud to share this draft master plan with the community to rejuvenate central Dandenong &ndash; with the project to benefit generations to come,&rdquo; said Capital Alliance Founder and Chief Executive Mohan Du.

To maintain the site&rsquo;s strong cultural identity, the project will also deliver a brand-new Little India precinct. The new Little India will provide more modern facilities and services, as well as better spaces for tenants, and will be built as part of the development&rsquo;s first stage to minimise disruptions to traders.

Construction on the development&rsquo;s first stage is expected to commence in 2023 &ndash; which also includes delivering a supermarket, food market hall and residential building. Capital Alliance will invest $600 million to develop the area next to the Dandenong transport hub &ndash; creating more than 2,600 jobs during construction and close to 5,000 ongoing positions once complete.

The project will complement the Labor Government&rsquo;s transport investments in the south-east, better connecting locals with $15 billion to upgrade the Cranbourne/Pakenham line &ndash; slashing travel times, delivering bigger trains and creating a direct link to Melbourne Airport through the Metro Tunnel.

&ldquo;We&rsquo;re not only delivering more trains, more often to Dandenong &ndash; we&rsquo;re delivering more housing, and jobs for this local area,&rdquo; Du added. &nbsp;

The Government is delivering the Revital​ising Central Dandenong project through Development Victoria, with support from Greater Dand​enong Council.

The Government is delivering the Revitalising Central Dandenong project through Development Victoria, with support from Greater Dand​enong Council.

alisonwarters@gmail.com

Central Dandenong revitalization planned

The Melbourne developer Hexa Group is developing a brand-new collection of three and four-bedroom townhomes in the multicultural community of Doveton.

Competitively priced just 30 kilometres south-east of Melbourne, Hexa Group&#39;s latest development, Kinsfolk, has been designed by Rothelowman to take in its surrounding pristine bushlands.

There are just 66 townhomes on offer at Kinsfolk, with construction well underway.

Urban has taken a look at why first home buyers in particular are keen on Kinsfolk.

1. Great location

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At the gateway of Victoria&rsquo;s holiday territory, Doveton is within reach of the Dandenong Ranges, and the Mornington Peninsula.

&ldquo;It is a place where things start to feel a little more serene, thanks to an encompassment of pristine bushlands, reserves, and waterways&rdquo;, the project marketing reads.

Residents will find themselves joining an established community at the centre of modern conveniences and surrounded by reserves and parkland.&nbsp;

2. Designed by Rothelowman

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With a collection of three and four-bedroom townhouses available, Kinsfolk presents future homeowners with the opportunity to establish a new life in modern comfort.

&ldquo;Deliberately designed to foster a sense of community, Kinsfolk is focused on providing residents with an enhanced quality of life. The confident architecture provides an elegant and timeless backdrop to the lives of future residents&rdquo;, said Rothelowman principal architect, Chris Hayton.

Rothelowman is an Australian-based firm with a reputation for quality residential designs, introducing a new calibre of living to Doveton.

3. Affordability

[smartcode_project:default project_id=8395 project_image_fid=46058]

Even though Doveton is not far from the lush Dandenong Ranges, the suburb is a thriving urban enclave with affordable housing.

The multicultural suburb delivers a cultural richness that has undergone significant transformations in recent years thanks to new developments.

Its close proximity to Dandenong provides numerous amenities, including the Dandenong Hospital, Dandenong Plaza and Dandenong Golf Course.

Brand-new townhouses at Kinsfolk a priced from an affordable $579,000.

4. Natural surrounds perfect for community

[smartcode_project:default project_id=8395 project_image_fid=46056]

Kinsfolk&nbsp;townhouses are complimented with considered landscaping that features an assortment of native trees and plants.

&ldquo;Each corner of Kinsfolk&nbsp;occupancy, from the reserve areas to each townhouse&#39;s&nbsp;parking landscape, has been treated with care and in pursuit of creating harmonious surroundings&rdquo;, the project marketing reads.

Kinsfolk streetscapes boast small-medium canopy trees, indigenous plants, gums and ironbarks, while oaks and bottlebrushes are found inside the perimeter of the development.

Spacious grass areas make for top spots for children and families to play and relax, as well as pedestrian paths to encourage outdoor living.

5. Distinctive interiors

[smartcode_project:default project_id=8395 project_image_fid=46057]

Rothelowman has designed this collection of&nbsp;townhouses with an impressive level of detail, evident in the lavish finishes and fixtures.

Contemporary in its aesthetic, Kinsfolk paves the way for a new style of suburban living, while celebrating its naturally opulent surroundings.

The home&rsquo;s open-plan scheme allows for a seamless flow, while grand windows open up to the garden and terrace areas.

A natural palette makes up the bathrooms and bedrooms, creating welcoming and hospitable sanctuaries to unwind in, and provide future residents with a blank canvas to make their own.

[smartcode_project_cta: project_id=8395]

There are just 66 townhomes on offer at Kinsfolk, with construction well underway

max.kwok_55688

Gateway to Victoria’s holiday hotspots: Five reasons first homebuyers love Kinsfolk townhouses at Doveton, near Dandenong

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A Tudor-style BnB opportunity in Victoria's Yarra Ranges has hit the market with a price guide of $1.8 million. 
The Monbulk Road home is in the heart of the Dandenong Ranges National Park. 
Set on 2,590 square metre block, the property accommodates a main three-bedroom family residence and three newly refurbished one-bedroom suites. 
<img src="https://www.urban.com.au/images/Screen%20Shot%202020-06-15%20at%202.26.35%20pm.png" alt="">
The three individually-styled suites form part of the luxury boutique accommodation Aquila Nova Retreat, previously owned by Alex and Irina Orlov. 
“We did significant renovations on the property when we first bought it including a full renovation for three of the units and an extensive renovation of the main house as well", Mr Orlov said. 
“The backyard also got a lot of attention and it’s one of the best parts of the BnB." 
Its outdoor facilities include hiking trails and a central paved entertaining area with a built-in BBQ. 
It also features an outdoor glass conservatory. 
<img src="https://www.urban.com.au/images/Screen%20Shot%202020-06-15%20at%202.25.57%20pm.png" alt="" style="font-size: 12.16px;">
The listing is held by Ray White Oakleigh's senior sales executive Bill Gianidis, who noted strong interest in the property within 48 hours of hitting the market. 
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j.ballantyne1990-6AQqhLzZaK

Yarra Ranges Tudor-style trophy home listed for sale

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A frequently listed Dandenong, Victoria home has sold at auction for $627,000.
It went to auction on December 12 2019 with a price guide of $600,000 - $660,000.
The three bedroom, one bathroom home has been listed 5 times since 2016, according to CoreLogic.
Situated at <a href="https://www.realestate.com.au/property-house-vic-dandenong-132597282" target="_blank">41 Ann Street</a>, the home was originally listed for $850,000 in 2016.
This asking price was reduced multiple times over the multiple campaigns until this most recent attempt when it was listed as a mortgagee sale.
Daniel Pepperell of Barry Plant Noble Park succesfully marketed the property in this latest campaign.
Set on 735 sqm, the one storey home is described in the listing as a "solid brick Californian bungalow... a testament to the early 1900's."
The home features 12 foot ornate ceilings and Baltic pine floor boards throughout.
Last sold for $525,000, the 1925 built house traded in 2014.
<a href="https://www.propertyobserver.com.au/subscribe" target="_blank"><img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2019/1/Subscriber%20strip%20ad.jpg" alt=""></a>
The median price for a house in <a href="/developments/dandenong-vic-3175">Dandenong</a> is $585,000 according to CoreLogic. 
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Much listed Dandenong, Victoria mortgagee sold for $220,000 below initial asking price

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A residential and commercial owner-occupier investment site in Dandenong has come onto the market for the first time in more than 40 years. 
Located at 1536-1538 Heatherton Road, close to the corner of Dandenong/Stud Road, the property comprises a total of 1,655 square metres, with 300 square metres of modern office space. 
According to marketing agents, Teska Carson’s George Takis and Michael Taylor, the property presents several options to prospective purchasers including owner-occupiers, investors, and developers. 
“This is a versatile property providing a number of options to the buyer including the opportunity to establish a business with excellent main street exposure, the potential to develop a residential project (STCA) on a large site, or as a passive investment with development options down the track.
“The property is very well located in one of Melbourne’s most rapidly growing regions with access to all essential amenities including shopping, lifestyle, entertainment, and public and private transport,” Mr Takis said.     
The property is close to Dandenong Plaza, Dandenong Markets and Dandenong Wetlands, parks, schools, fitness centres and has easy access to the Melbourne CBD via arterial routes such as EastLink, Stud Road/Dandenong Valley Highway, Princes Highway and Monash Freeway. 
Mr Taylor said the property would ideally suit townhouse development (STCA) or similar given the size of the lot and its township location. 
It last traded in 1976, when it sold for $57,000. 
The listing will be auctioned on December 13.
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Mixed-use Dandenong property on Heatherton Road listed for first time since 1976

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A three bedroom two bathroom Dandenong North, Vic mortgagee home has been sold for $570,000.
Built in 1975 it sold a notch above the price guide of $500,000 - $550,000.
Chris Zhang of Harcourts held the listing.
Situated at <a href="https://www.realestate.com.au/sold/property-house-vic-dandenong+north-131098546" target="_blank">41 First Avenue</a>, the property sold in 21 days just over half the median for the Dandenong North which is 37 days, according to Corelogic.
Set on 532 sqm, the home features ducted heating and a double garage.
It last sold in 2013 trading for $450,000.
<a href="https://www.propertyobserver.com.au/subscribe" target="_blank"><img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2019/1/Subscriber%20strip%20ad.jpg" alt=""></a>
The median price for a home in <a href="/developments/dandenong-north-vic-3175">Dandenong North</a> is $621,000, according to CoreLogic, which calculate its annual change in median price over the past 10 years as 7.1%.
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Three bedroom Dandenong North, Vic mortgagee home sold

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Three bidders competed post auction for a Dandenong apartment block sold for $3.62 million.
The 16 in-one-line two-bedroom apartments were at 29 Stud Road.
The property sat on a 2,013 square metre land offering, with RGZ2 zoning with medium density development to 13.5 metres.
It was marketed and sold by Ray White Commercial Glen Waverley agents Ryan Trickey and Ben Ainsworth.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2019/5/14/Stud%20Road%2029%20-%20outlined%20photos%20x43.jpg" alt="" style="font-size: 12.16px;"> 
Trickey said there was mixed interest as the property, on the market for the first time in 45 years, appealed to several buyer groups.
“Investors looked at yield, developers looked at highest and best use, and groups (like the buyer) looked at value add. This ranged from the high $2 million to low-to-mid $3 million,” he said.
“There was a genuine buzz around the auction, and it took 24 bids before the property was in a position to be sold, and it went to a commercial ‘re-conditioner’ who'll renovate the units and add value to the site.
“The property provides a strong reliable income and offered financial security and at fully-leased rental, the property produces $218,140 per annum with only one vacancy on-site right now.
“Being so close to amenities like Dandenong Plaza, Dandenong Market and the train station means there’ll always be a strong tenant demand for young families and professionals alike.”
Ainsworth said Dandenong was a proven re-development precinct with existing permitted construction underway in the local area.
“Being just 30 kilometres south-east of the Melbourne CBD, the property is within walking distance to all central Dandenong infrastructure,” he said.
“It offers excellent access to the Eastern Freeway, Monash Freeway and benefits from Dandenong train line and buses."
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Post-auction offers secure 16 in-one-line apartments for $3.62 million

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Dandenong apartment prices have seen a 22% growth spike in the last quarter, according to REIV data.
In 2017 the REIV noted Dandenong sat in the most affordable suburbs, but Melbourne’s ever-expanding boundaries have meant suburbs up to 70 kilometres from the city have pushed Dandenong out of the 10 most affordable suburbs list.
An example of this surging median price is <a href="https://www.realestate.com.au/sold/property-unit-vic-dandenong-129439186" target="_blank">79/35 David Street, Dandenong</a> (pictured above).
The two bedroom one bathroom townhouse sold for $420,000 in December 2018. 
It saw price growth of $125,000 from its 2015 sale price of $295,000.
Situated within walking distance to Hemmings Park, schools, Dandenong Market, Plaza and Dandenong Hospital the property has easy access to trains, buses, Eastlink and the Monash Freeway.
<img src="https://www.urban.com.au/images/2019/1/21/Dandenong%201.JPG" alt="">
Another example of the median price in Dandenong is <a href="https://www.realestate.com.au/sold/property-unit-vic-dandenong-129452490" target="_blank">2/44 Hammond Road</a>  (pictured above).
This three bedroom one bathroom townhouse sold for $423,333 in November 2018.
It saw price growth $33,333 from its December 2017 sale price of $390,000.
The home features solar hot water and has no body corporate fees.
<img src="https://www.urban.com.au/images/2019/1/21/Dandenong%202.JPG" alt="">
An indication of this median price being a target price is <a href="https://www.realestate.com.au/property-unit-vic-dandenong-129925094" target="_blank">5/16 Norman Court, Dandenong</a> (pictured above).
Set on 198 sqm the property is a two bedroom one bathroom townhouse.
Seeking $400,000 - $440,000, the home has a current rental return of approximately $300 per week.
Located near Dandenong station, schools, shops and Dandenong Central the property also has a one car garage.
<table dir="ltr" border="1" cellspacing="0" cellpadding="0"><tbody>
<tr>
<td data-sheets-value='{"1":2,"2":"Suburb"}'>Suburb</td>
<td data-sheets-value='{"1":2,"2":"Dec-18 Median"}'>Dec-18 Median</td>
<td data-sheets-value='{"1":2,"2":"Sep-18 Median"}'>Sep-18 Median</td>
<td data-sheets-value='{"1":2,"2":"Quarterly Change"}'>Quarterly Change</td>
</tr>
<tr>
<td data-sheets-value='{"1":2,"2":"DANDENONG"}'>DANDENONG</td>
<td data-sheets-numberformat='[null,4,"\"$\"#,##0",1]' data-sheets-value='{"1":3,"3":415000}'>$415,000</td>
<td data-sheets-numberformat='[null,4,"\"$\"#,##0",1]' data-sheets-value='{"1":3,"3":340000}'>$340,000</td>
<td data-sheets-numberformat='[null,3,"0.00%",1]' data-sheets-value='{"1":3,"3":0.221}'>22.10%</td>
</tr>
<tr>
<td data-sheets-value='{"1":2,"2":"KEW"}'>KEW</td>
<td data-sheets-numberformat='[null,4,"\"$\"#,##0",1]' data-sheets-value='{"1":3,"3":830250}'>$830,250</td>
<td data-sheets-numberformat='[null,4,"\"$\"#,##0",1]' data-sheets-value='{"1":3,"3":696000}'>$696,000</td>
<td data-sheets-numberformat='[null,3,"0.00%",1]' data-sheets-value='{"1":3,"3":0.193}'>19.30%</td>
</tr>
<tr>
<td data-sheets-value='{"1":2,"2":"BRUNSWICK EAST"}'>BRUNSWICK EAST</td>
<td data-sheets-numberformat='[null,4,"\"$\"#,##0",1]' data-sheets-value='{"1":3,"3":576000}'>$576,000</td>
<td data-sheets-numberformat='[null,4,"\"$\"#,##0",1]' data-sheets-value='{"1":3,"3":510000}'>$510,000</td>
<td data-sheets-numberformat='[null,3,"0.00%",1]' data-sheets-value='{"1":3,"3":0.129}'>12.90%</td>
</tr>
<tr>
<td data-sheets-value='{"1":2,"2":"BRUNSWICK"}'>BRUNSWICK</td>
<td data-sheets-numberformat='[null,4,"\"$\"#,##0",1]' data-sheets-value='{"1":3,"3":540000}'>$540,000</td>
<td data-sheets-numberformat='[null,4,"\"$\"#,##0",1]' data-sheets-value='{"1":3,"3":485000}'>$485,000</td>
<td data-sheets-numberformat='[null,3,"0.00%",1]' data-sheets-value='{"1":3,"3":0.113}'>11.30%</td>
</tr>
<tr>
<td data-sheets-value='{"1":2,"2":"ESSENDON"}'>ESSENDON</td>
<td data-sheets-numberformat='[null,4,"\"$\"#,##0",1]' data-sheets-value='{"1":3,"3":530000}'>$530,000</td>
<td data-sheets-numberformat='[null,4,"\"$\"#,##0",1]' data-sheets-value='{"1":3,"3":485000}'>$485,000</td>
<td data-sheets-numberformat='[null,3,"0.00%",1]' data-sheets-value='{"1":3,"3":0.093}'>9.30%</td>
</tr>
<tr>
<td data-sheets-value='{"1":2,"2":"CROYDON"}'>CROYDON</td>
<td data-sheets-numberformat='[null,4,"\"$\"#,##0",1]' data-sheets-value='{"1":3,"3":597500}'>$597,500</td>
<td data-sheets-numberformat='[null,4,"\"$\"#,##0",1]' data-sheets-value='{"1":3,"3":550000}'>$550,000</td>
<td data-sheets-numberformat='[null,3,"0.00%",1]' data-sheets-value='{"1":3,"3":0.086}'>8.60%</td>
</tr>
<tr>
<td data-sheets-value='{"1":2,"2":"MORDIALLOC"}'>MORDIALLOC</td>
<td data-sheets-numberformat='[null,4,"\"$\"#,##0",1]' data-sheets-value='{"1":3,"3":703500}'>$703,500</td>
<td data-sheets-numberformat='[null,4,"\"$\"#,##0",1]' data-sheets-value='{"1":3,"3":648500}'>$648,500</td>
<td data-sheets-numberformat='[null,3,"0.00%",1]' data-sheets-value='{"1":3,"3":0.085}'>8.50%</td>
</tr>
<tr>
<td data-sheets-value='{"1":2,"2":"ABBOTSFORD"}'>ABBOTSFORD</td>
<td data-sheets-numberformat='[null,4,"\"$\"#,##0",1]' data-sheets-value='{"1":3,"3":630000}'>$630,000</td>
<td data-sheets-numberformat='[null,4,"\"$\"#,##0",1]' data-sheets-value='{"1":3,"3":587500}'>$587,500</td>
<td data-sheets-numberformat='[null,3,"0.00%",1]' data-sheets-value='{"1":3,"3":0.072}'>7.20%</td>
</tr>
<tr>
<td data-sheets-value='{"1":2,"2":"CARNEGIE"}'>CARNEGIE</td>
<td data-sheets-numberformat='[null,4,"\"$\"#,##0",1]' data-sheets-value='{"1":3,"3":552500}'>$552,500</td>
<td data-sheets-numberformat='[null,4,"\"$\"#,##0",1]' data-sheets-value='{"1":3,"3":516500}'>$516,500</td>
<td data-sheets-numberformat='[null,3,"0.00%",1]' data-sheets-value='{"1":3,"3":0.07}'>7.00%</td>
</tr>
<tr>
<td data-sheets-value='{"1":2,"2":"BENTLEIGH"}'>BENTLEIGH</td>
<td data-sheets-numberformat='[null,4,"\"$\"#,##0",1]' data-sheets-value='{"1":3,"3":835000}'>$835,000</td>
<td data-sheets-numberformat='[null,4,"\"$\"#,##0",1]' data-sheets-value='{"1":3,"3":785500}'>$785,500</td>
<td data-sheets-numberformat='[null,3,"0.00%",1]' data-sheets-value='{"1":3,"3":0.063}'>6.30%</td>
</tr>
<tr>
<td data-sheets-value='{"1":2,"2":"PRESTON"}'>PRESTON</td>
<td data-sheets-numberformat='[null,4,"\"$\"#,##0",1]' data-sheets-value='{"1":3,"3":560000}'>$560,000</td>
<td data-sheets-numberformat='[null,4,"\"$\"#,##0",1]' data-sheets-value='{"1":3,"3":533500}'>$533,500</td>
<td data-sheets-numberformat='[null,3,"0.00%",1]' data-sheets-value='{"1":3,"3":0.05}'>5.00%</td>
</tr>
<tr>
<td data-sheets-value='{"1":2,"2":"SOUTH YARRA"}'>SOUTH YARRA</td>
<td data-sheets-numberformat='[null,4,"\"$\"#,##0",1]' data-sheets-value='{"1":3,"3":587000}'>$587,000</td>
<td data-sheets-numberformat='[null,4,"\"$\"#,##0",1]' data-sheets-value='{"1":3,"3":560000}'>$560,000</td>
<td data-sheets-numberformat='[null,3,"0.00%",1]' data-sheets-value='{"1":3,"3":0.048}'>4.80%</td>
</tr>
<tr>
<td data-sheets-value='{"1":2,"2":"RICHMOND"}'>RICHMOND</td>
<td data-sheets-numberformat='[null,4,"\"$\"#,##0",1]' data-sheets-value='{"1":3,"3":647500}'>$647,500</td>
<td data-sheets-numberformat='[null,4,"\"$\"#,##0",1]' data-sheets-value='{"1":3,"3":620000}'>$620,000</td>
<td data-sheets-numberformat='[null,3,"0.00%",1]' data-sheets-value='{"1":3,"3":0.044}'>4.40%</td>
</tr>
<tr>
<td data-sheets-value='{"1":2,"2":"BRUNSWICK WEST"}'>BRUNSWICK WEST</td>
<td data-sheets-numberformat='[null,4,"\"$\"#,##0",1]' data-sheets-value='{"1":3,"3":500000}'>$500,000</td>
<td data-sheets-numberformat='[null,4,"\"$\"#,##0",1]' data-sheets-value='{"1":3,"3":480000}'>$480,000</td>
<td data-sheets-numberformat='[null,3,"0.00%",1]' data-sheets-value='{"1":3,"3":0.042}'>4.20%</td>
</tr>
<tr>
<td data-sheets-value='{"1":2,"2":"SOUTHBANK"}'>SOUTHBANK</td>
<td data-sheets-numberformat='[null,4,"\"$\"#,##0",1]' data-sheets-value='{"1":3,"3":572500}'>$572,500</td>
<td data-sheets-numberformat='[null,4,"\"$\"#,##0",1]' data-sheets-value='{"1":3,"3":550000}'>$550,000</td>
<td data-sheets-numberformat='[null,3,"0.00%",1]' data-sheets-value='{"1":3,"3":0.041}'>4.10%</td>
</tr>
<tr>
<td data-sheets-value='{"1":2,"2":"DONCASTER EAST"}'>DONCASTER EAST</td>
<td data-sheets-numberformat='[null,4,"\"$\"#,##0",1]' data-sheets-value='{"1":3,"3":770000}'>$770,000</td>
<td data-sheets-numberformat='[null,4,"\"$\"#,##0",1]' data-sheets-value='{"1":3,"3":750000}'>$750,000</td>
<td data-sheets-numberformat='[null,3,"0.00%",1]' data-sheets-value='{"1":3,"3":0.027}'>2.70%</td>
</tr>
<tr>
<td data-sheets-value='{"1":2,"2":"TOORAK"}'>TOORAK</td>
<td data-sheets-numberformat='[null,4,"\"$\"#,##0",1]' data-sheets-value='{"1":3,"3":809000}'>$809,000</td>
<td data-sheets-numberformat='[null,4,"\"$\"#,##0",1]' data-sheets-value='{"1":3,"3":795000}'>$795,000</td>
<td data-sheets-numberformat='[null,3,"0.00%",1]' data-sheets-value='{"1":3,"3":0.018}'>1.80%</td>
</tr>
<tr>
<td data-sheets-value='{"1":2,"2":"NORTH MELBOURNE"}'>NORTH MELBOURNE</td>
<td data-sheets-numberformat='[null,4,"\"$\"#,##0",1]' data-sheets-value='{"1":3,"3":624000}'>$624,000</td>
<td data-sheets-numberformat='[null,4,"\"$\"#,##0",1]' data-sheets-value='{"1":3,"3":620000}'>$620,000</td>
<td data-sheets-numberformat='[null,3,"0.00%",1]' data-sheets-value='{"1":3,"3":0.006}'>0.60%</td>
</tr>
<tr>
<td data-sheets-value='{"1":2,"2":"PASCOE VALE"}'>PASCOE VALE</td>
<td data-sheets-numberformat='[null,4,"\"$\"#,##0",1]' data-sheets-value='{"1":3,"3":619000}'>$619,000</td>
<td data-sheets-numberformat='[null,4,"\"$\"#,##0",1]' data-sheets-value='{"1":3,"3":616000}'>$616,000</td>
<td data-sheets-numberformat='[null,3,"0.00%",1]' data-sheets-value='{"1":3,"3":0.005}'>0.50%</td>
</tr>
<tr>
<td data-sheets-value='{"1":2,"2":"DOCKLANDS"}'>DOCKLANDS</td>
<td data-sheets-numberformat='[null,4,"\"$\"#,##0",1]' data-sheets-value='{"1":3,"3":621500}'>$621,500</td>
<td data-sheets-numberformat='[null,4,"\"$\"#,##0",1]' data-sheets-value='{"1":3,"3":619250}'>$619,250</td>
<td data-sheets-numberformat='[null,3,"0.00%",1]' data-sheets-value='{"1":3,"3":0.004}'>0.40%</td>
</tr>
</tbody></table>
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Dandenong apartments prices soar: REIV

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The diversified property group, Pellicano, has sold the final lot at its 74 hectare masterplanned Innovation Park estate in Dandenong South.
It went for for 72% more than comparable lots in 2012.
At $290 per square metre for the 14,940 square metre site, the final sale to a private investor totalled over $4.3 million.
Over the past six years and across four stages, 61 lots have been sold at Innovation Park for upwards of $68 million.
The sale represented the last sale of public land with Pellicano and its JV partner, ISTP, instead now turning attention to the 26 hectare of land reserved exclusively for pre-commitments and speculative developments.
“The 72% increase between the approximate price per square metre in 2012 and 2017 is demonstrative of the growing demand for industrial lots in Victoria. In particular, the appetite for industrial land in the south east has consistently driven prices up,” managing director Renato Pellicano said.
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jonathanchancellor-7SQnKwU6yx

Pellicano sells final lots at Dandenong South masterplanned Innovation Park

<html><body>
Engineered joining technology manufacturer Norma Group is set to relocate to Logis Eco-Industrial Business Park, as part of a growing trend of major corporations moving to the Dandenong South industrial precinct.
The global company has signed a pre-lease for a 3,000 square metre state-of-the-art office/warehouse on Bazalgette Crescent, in Melbourne's south east, to be fulfilled by market-leading developer, BFD Construction.
Savills Australia’s Kosta Filinis worked closely with both parties to negotiate the seven-year term.  
Industry sources believe rental rates for similar asset in the precinct are circa $100-$110 per square metre.
“This lease term is a sign of the commitment from both sides to the project, and has enabled both the tenant and the landlord to achieve their requirements,” Filinis said.
The purpose-built facility will have direct access to Greens Road, the Dandenong Bypass and EastLink, and is located in the Logis North section of the Logis Eco-Industrial Business Park.
The environmentally friendly estate, which was developed by Melbourne Water and Places Victoria.
Filinis said the deal was another “outstanding result” for the popular Dandenong South industrial market.
“The area is consistently drawing occupiers from competing markets, such as Braeside, Scoresby and Rowville.”
Norma Group’s new facility marks another major deal for BFD, which has enjoyed recent successes developing warehouses of a similar size for NSK Australia, Sullair Australia and Terex.
 
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