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

Joel Robinson

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

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

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

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

Ellipse launches Lily Lane, stage two of Carrington Place

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

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

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

How Mountain Oak Apartments draws holiday home buyers to Queenstown

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

[smartcode_project:default project_id=8395 project_image_fid=46054]

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

[smartcode_project:default project_id=8395 project_image_fid=46059]

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

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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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wdavis-8cCN98p7xp

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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