Gold Coast developer&nbsp;<a href="https://www.apartments.com.au/developers/big-projects">Big Projects</a> has secured approval for its second Mermaid Beach project.

The developer, currently selling <a href="https://www.apartments.com.au/new-apartments/the-frederick-mermaid-beach-2265-gold-coast-highway-mermaid-beach-qld-4218">The Frederick in Nobby Beach</a>, has secured approval for its next project just 1.5 kilomnetres up the road.

The new development, dubbed&nbsp;<a href="https://www.apartments.com.au/new-apartments/glenelg-residences-2462-2472-gold-coast-highway-mermaid-beach-qld-4218">Glenelg Residences</a>, has been designed by BDA Architecture and&nbsp;will have just under 100 apartments across an 11-storey building&nbsp;at 2462–2472 Gold Coast Highway, on the corner of Glenelg Avenue just under 300m from the future Mermaid Beach Light Rail stop.

The apartments, a mix of two- and three-bedrooms, will sit above a retail-focused ground plane and under extensive rooftop resident amenities.

<img alt="Exclusive: Big Projects plot Mermaid Beach apartment development, Glenelg Residences" data-entity-type="" data-entity-uuid="" src="https://res.cloudinary.com/dz9xllyip/image/fetch/f_auto,c_limit,w_1440,q_75/https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/field/image/Screen%20Shot%202024-06-11%20at%209.55.04%20am.png?VersionId=z6NV4izeuvhBSSVlY6vK6TPO1LxrFeaG" />

BDA said in its planning submission that the project is intended to support the area’s transition toward higher-density, mixed-use living. “This project offers the opportunity to generate appropriate higher-intensity development within the future Light Rail corridor of <a href="https://www.apartments.com.au/developments/mermaid-beach-qld-4218">Mermaid Beach</a>,” the submission noted.

At ground level, Glenelg Residences will include eight retail tenancies designed to activate the street frontage, complemented by a basement bar offering an additional hospitality element. Above, residents will have access to a rooftop amenity deck featuring an infinity pool, hot and cold plunge spas, day beds, and barbecue facilities.

The architectural approach adopts a restrained material palette of brick, textured concrete, and integrated landscaping, with cantilevered concrete frames and cascading planting intended to soften the built form. BDA described the design as aiming to create “a memorable sculptural mid-rise mixed-use building” that responds to both its coastal setting and urban context.

<img alt="Exclusive: Big Projects plot Mermaid Beach apartment development, Glenelg Residences" data-entity-type="" data-entity-uuid="" src="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/Screen%20Shot%202024-06-11%20at%209.55.45%20am.png?VersionId=cpjIVBqcT_sujmo2UMWkVyLcQ7WGJHaQ" />

The approval comes as the City of Gold Coast continues to plan for significant population growth, with regional targets requiring more than 100,000 new high-density dwellings by 2046.

<section data-scroll-anchor="false" data-testid="conversation-turn-36" data-turn="assistant" data-turn-id="request-WEB:55d7c6ac-8e6d-4881-ad49-0ed9bf66d1cc-17" dir="auto">
Big Projects, led by Matthew and John Barrett, is part of a growing cohort of developers that deliver construction in-house, providing a high level of confidence to prospective purchasers.
</section>

[smartcode_project_cta:default project_id=150260]

Joel Robinson

Big Projects secures approval for Glenelg Residences in Mermaid Beach

Sherpa Group is ramping up its investment in the southern Gold Coast by lodging a development application for <a href="https://www.apartments.com.au/new-apartments/flourish-viver-87-griffith-street-coolangatta-qld-4225">Flourish Viveré</a>, a new $350 million project in Coolangatta.

The move comes after the group’s $27 million acquisition of the 2,029 sqm site on the corner of Griffith and Warner Street, last year.

They will develop 194 apartments across a 26-storey tower, which will become Sherpa’s largest project to date.

Viveré will be the next chapter in the Flourish story, following closely behind Amargo, Oasis, and the Avenues in Palm Beach, as well as Symphony in Brisbane, all designed to deliver affordable housing in lifestyle-rich locations, giving locals a real chance to secure a residence close to the beachfront.

The HAL Architect-designed project will offer a diverse range of residences, from one-, two, and three- bedroom apartments to the premium Canopy range to luxury penthouses.

<img alt="Vivere" data-entity-type="file" data-entity-uuid="c85f5a7e-a22f-4745-8def-400adb3c0b35" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-04-15%20at%209.53.43%E2%80%AFAM.png?VersionId=OY.chur3BPExn1exQ2q8clHqWnW_CaBi" />

“The Gold Coast is undergoing a period of immense growth, with more people drawn to the incredible 
lifestyle that’s available, leading to strong growth in property prices,” said Christie Leet, founder of Sherpa 
Group.

“Our goal at Sherpa is to ensure locals are not priced out of the market in prime locations, which is why we 
created the Flourish collection.

“Flourish Vivere will form the next chapter in our portfolio, and we are so excited to be lodging the DA, marking our first project in Coolangatta.”

A signature of the Flourish developments is the communal rooftop. Flourish Vivere will showcase a private resident’s lounge, outdoor dining with barbecues and pizza ovens, heated pool, fully-equipped gym, and a wellness centre with sauna and steam room.

<img alt="Vivere" data-entity-type="file" data-entity-uuid="c09372cc-aae6-4458-af2e-f291bd19a5e5" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-04-15%20at%209.53.49%E2%80%AFAM.png?VersionId=Sc_RLXl5jiff.tnadogXjQJ_WIpDjf3p" />

The project is strategically located to offer a walkable lifestyle, with the Strand shopping centre, cafes, restaurants, shops and the beach, all just a short stroll away.

“We have meticulously planned Vivere to build on the Flourish legacy, creating a truly special project,”&nbsp;Leet added.

“Wellness, lifestyle and community are at the forefront of every decision we make, and that has not 
changed for Vivere.”

With the DA now lodged with the Gold Coast City Council, Sherpa has moved quickly to secure LPS Group as the builder, offering buyers a level of certainty that is rarely seen in today’s market.

Sherpa has delivered 16 residential projects over the past seven years with a pipeline of $1 billion, with more under construction.

Sherpa takes Flourish brand to Coolangatta, lays plans for Flourish Vivere 

S&amp;S Projects is boosting its investment at Rainbow Bay to more than $1 billion after the prolific Gold Coast developer acquired a new site for $20.25 million and immediately laid plans for a new luxury apartment project in the sought-after precinct.

The site, which is the company’s fifth acquisition at Rainbow Bay in the past four years, will be home to the company’s largest project to date after delivering 3 sold-out projects and construction progresses on Radia worth a combined $215m. 
S&amp;S Projects is currently finalising plans for its latest strategic acquisition, a 1,518 sqm site located 209-213 Boundary Street in Coolangatta, with a development application expected to be lodged within weeks.

The luxury residential development will build on the company’s highly successful projects at Rainbow Bay, comprising Flow, Awaken, Esprit and Radia, with Radia currently under construction by Hutchinson Builders.

“We have been unflinching in our commitment to Rainbow Bay and the transformation we have helped drive in this incredible part of the Gold Coast, which is among the city’s most desirable residential locations,” said S&amp;S Projects founder and director Paul Gedoun.

“Our fifth project will reflect the best of what we have done so far to create a lifestyle precinct that is second to none.”

The latest development, which has yet to be named, is proposed to accommodate 88 luxury apartments in a design that will immerse residents in a unique wellness lifestyle that expands on the legacy of S&amp;S Project’s earlier developments at Rainbow Bay.

The development will feature an expansive rooftop garden and wellness centre with a resort- style pool, among a host of lifestyle amenities planned for residents.

“Rainbow Bay, with its beautiful, protected beach and alongside one of the world’s best surf breaks at Snapper Rocks, is the natural wellness heartland of the Gold Coast,” said Gedoun.

“We are taking every advantage to create a truly unique rooftop wellness experience with a natural feel for residents, offering stone features throughout and an underlying theme that emulates a botanical garden.”

The latest acquisition comes as S&amp;S Projects is at the completion of Esprit and construction continues on Radia, which are part of their significant portfolio undertaken by the company at Rainbow Bay since 2022.

The $215 million Radia, which comprises 38 apartments, is currently the flagship development by S&amp;S Projects at Rainbow Bay which is expected to be completed in 2027.

Jayde Pezet, of Pezet Matheson, which has managed sales and marketing for S&amp;S Projects across their Gold Coast portfolio, emphasised the developer’s commitment to continuous improvement and excellence.

“S&amp;S Projects continue to elevate the benchmark of luxury with each development," Pezet said.

“We have worked with S&amp;amp;S on their 4 other projects in Rainbow Bay and their approach reflects a team that is constantly learning, refining, and pushing the standard higher.

“Their hyper-local knowledge and deep expertise within the luxury property sector are what truly set them apart, allowing them to deliver projects that feel both globally sophisticated and authentically connected to their coastal environment”

S&amp;S Projects plans to officially launch its latest project at Rainbow Bay in the second half of this year.

“As we embark on our largest project yet, we have pulled out all stops to create another landmark development that truly reflects the relaxed southern Gold Coast lifestyle,” Gedoun added.

S&S buys $20m Rainbow Bay site for fifth beachside apartment project

Japandi, an emerging design trend that combines Scandinavian functionality with Japanese rustic minimalism, remains relatively untested in Australia’s residential development market.

As developers look to differentiate their projects and offer something distinct to buyers, Brisbane-based developer Lantona has embraced the hybrid style for its recently launched Toowong apartment project, <a href="https://www.apartments.com.au/new-apartments/koya-residences-6-josling-street-toowong-qld-4066">Koya Residences</a>, with early response to the design proving positive.

Lantona entrusted Red Door Architecture and interiors practice Luma Design Co with delivering the Japandi brief. The approach blends Japanese minimalism with Scandinavian functionality, emphasising warm, restrained interiors, natural materials and clean lines. Drawing on the Japanese concept of wabi-sabi (beauty in imperfection) and the Scandinavian principle of hygge (comfort and cosiness), it creates serene, uncluttered and sustainable living environments.

These design principles are expressed throughout the Josling Street development, both in its exterior form and across the 40 one-, two- and three-bedroom residences within.

[smartcode_project:default project_id=150787 project_image_fid=366229]

Koya reflects a deliberately scaled approach, with the five-storey form designed to align with the surrounding residential streetscape rather than dominate it.

“Koya is conceived as a building that sits comfortably within its surroundings. Every decision, from material selection to spatial planning, has been guided by long-term liveability and enduring relevance,” the developer said.

[smartcode_project:default project_id=150787 project_image_fid=366243]

Positioned within an established inner-west neighbourhood, the development sits near riverfront parklands and the Bicentennial Bikeway, while remaining within walking distance of Toowong Village and multiple public transport options connecting to the CBD, St Lucia and West End.

Lantona said the location was central to the project’s conception, pointing to Toowong’s balance of green space, transport access and proximity to major education institutions.

“<a href="https://www.apartments.com.au/developments/toowong-qld-4066">Toowong</a> combines river access, walkability, immediate CBD connection and a strong educational presence. That balance made it the obvious setting for Koya.”

[smartcode_project:default project_id=150787 project_image_fid=366230]

Communal amenity is concentrated on the rooftop, where a shared retreat will include a pool, dining areas and outdoor spaces oriented towards neighbourhood and city views. The design allows for both private use and small gatherings, extending the living environment beyond individual apartments.

Koya enters the market at a time when smaller-scale developments are becoming less common in established suburbs, with many recent projects in the suburb shooting for the sky.

In a nod of confidence,&nbsp;<a href="https://www.apartments.com.au/builders/brisbane-builders">Brisbane Builders</a>&nbsp;has already commenced construction on the building, which is slated for completion in early 2027. Keenan &amp; Byrne is marketing Koya.

[smartcode_project_cta:default project_id=150787]

Japandi-inspired Koya Residences launch in Toowong

<section data-scroll-anchor="false" data-testid="conversation-turn-6" data-turn="assistant" data-turn-id="request-WEB:ca872054-bfe3-4cc5-a2c8-b373d4dfeafb-2" dir="auto">
A completed Castle Hill apartment development is returning to market with an uncommon level of financial backing, positioning it as one of the more secure options for buyers in Sydney’s north-west.

Skyview in Castle Hill, originally developed by Top Place and now overseen by capital partner <a href="https://www.apartments.com.au/developers/equitifund-group">Equitifund</a>, is being relaunched following a full remediation process. Central to its repositioning is a substantial financial reserve designed to provide ongoing protection and reduce uncertainty for incoming purchasers.

At the core of this offering is an $11 million bond secured during the project’s remediation phase, negotiated by former NSW Building Commissioner David Chandler. With less than $4 million required to complete the works, approximately $7.2 million remains in reserve, with around 15 years left on the term.

[smartcode_project:default project_id=147685 project_image_fid=359134]

Rather than a typical insurance-backed structure, the remaining funds are held as cash, creating a readily accessible financial buffer should any future building issues arise. The structure is intended to provide buyers with an added layer of certainty, differentiating the development from more conventional apartment offerings.

Equitifund Executive Chairman Greg Huxley said the structure provides a level of security not typically seen in apartment developments.

“The $11 million bond established for the Skyview Castle Hill development represents exceptional value, providing genuine financial security for purchasers,” Huxley said.

“Unlike a standard insurance policy, this bond consists of real funds held in trust for the Owners Corporation, offering a tangible layer of protection and added peace of mind.”

[smartcode_project:default project_id=147685 project_image_fid=359135]

The remediation process has now been completed in full, with no active rectification orders or outstanding directives linked to the project on NSW Government registers. This outcome reflects the broader tightening of building oversight across the state, while also highlighting the project’s transition into a completed, compliant asset.

In a market where many buyers remain cautious about apartment quality, initiatives like this are designed to restore confidence, giving purchasers greater certainty and a stronger sense of security in their investment.

Equitifund has since acquired the remaining apartments and is managing their reintroduction to the market. With the works finalised and a significant financial reserve in place, the project now presents with a markedly different risk profile compared to its initial release.

[smartcode_project:default project_id=147685 project_image_fid=359137]

Beyond the added security, the development is positioned in one of Castle Hill’s more established pockets. The Gay Street address places it within close proximity to Castle Towers, one of the country’s largest retail centres, as well as Castle Hill Metro Station, which now connects directly to the broader Sydney Metro network.

Equitifund National Sales Director Ben Hamblett said buyer demand in the area continues to be driven by access to transport and amenity.

“Interest from both owner-occupiers and investors in Castle Hill remains exceptionally strong, with buyers consistently prioritising developments in close proximity to the Metro station and Castle Towers Shopping Centre,” Hamblett said.

“There is a clear trend in the market, with purchasers seeking convenient access to transport and lifestyle amenities that support a seamless, low-maintenance way of living.”

[smartcode_project:default project_id=147685 project_image_fid=359145]

The apartments also enter the market at a relatively accessible price point for the area, with two-bedroom configurations starting from $995,000 and rental demand for similar stock reaching around $900 per week. This combination of pricing, connectivity, and completed status is expected to appeal to both owner-occupiers and investors seeking lower-risk entry into the Hills District apartment market.

For eligible buyers, a limited 3.50 per cent p.a. two-year fixed interest rate is currently available through Equitifund’s lending partners, providing an additional layer of affordability.

EquitiCredit Pty Ltd ACN 676 363 769 holds ACL 559289 and provides credit assistance. Finance is arranged through EquitiCredit and funded by its lending partners. Interest rates are subject to change and eligibility criteria apply. Terms, conditions, fees and charges may apply. This is not financial advice and should not be relied upon as such. Prospective buyers should seek independent financial advice.

[smartcode_project_cta:default project_id=147685]
</section>

Castle Hill apartments offering unmatched buyer protection through dedicated fund

Dexus

<html><body>
Dexus advises it will cease the management of the Australian Mandate, comprising a $1.6 billion property portfolio from June 30, 2020.
The diversified Australian Mandate comprises properties managed by Dexus on behalf of NSW Treasury Corporation (“TCorp”) for more than 30 years, and TCorp remains a long-term investor on the platform via other vehicles.
The Australian Mandate has achieved outperformance versus benchmark over 1, 3, 5, 7 and 10 years as at December 31, 2019. 
Dexus’s funds management business has achieved significant growth since FY12 and has recently attracted new like-minded partners such as GIC and M&amp;G Real Estate to invest alongside through the cycle.
There are currently several opportunities in the pipeline for Dexus to onboard investors with open investment periods and growth strategies.
The transition of the Australian Mandate is expected to have no impact on either Dexus's Adjusted Funds From Operations or distribution per security in FY20, with market guidance of distribution per security growth maintained at circa 5.5 per cent for the 12 months ended June 30, 2020.
</body></html>

j.ballantyne1990-6AQqhLzZaK

Dexus to end management of $1.6 billion Australian Mandate portfolio

<html><body>
Dexus has begun construction on a development to tranform the MLC Centre precinct into a premier space in the heart of the Sydney CBD.
The circa $170 million project (artist rendition pictured in title) will deliver approximately 6,000 sqm of new and improved retail space across four levels and is supported by the existing office tower in Martin Place.
It follows just a few months after <a href="/expert-insights/investing/dexus-take-full-control-of-mlc-centre">Dexus implemented a purchase right</a> over the remaining half of the MLC Centre that was <a href="/expert-insights/investing/half-of-harry-seidlers-mlc-centre-to-be-sold-by-gpt">first listed in January</a>.
The ASX-listed group already owned half of the building, and it is believed Dexus paid $800 million for the half previously owned by the GPT Group, which has a book value of $725 million.
The new retail offering will include, new luxury and premium retail to Castlereagh and King Streets, a new plaza food and beverage precinct fronting onto Martin Place and a mix of retail and service providers within the building core.
<img src="https://www.urban.com.au/images/2019/6/13/MLC%20Centre%20New%202.JPG" alt="">
Plus a new commercial tower entrance will be established from Castlereagh Street (artist rendition pictured above), improving connectivity for workers and visitors.
The redevelopment also includes plans to revive the Theatre Royal with Dexus entering into a 45 year lease with the NSW Government, paving the way for a private theatre operator to run the theatre.
The MLC Centre, originally designed by architect Harry Seidler, has been a key city landmark since 1978.
Harry Seidler and Associates Director Penelope Seidler said, “I am so excited about the design of the new works proposed for the MLC Centre. The integrity of Harry’s original architecture is to be re-established and contrasted with new geometries of internally illuminated glass. The MLC Centre will become the glowing core of the centre of Sydney.”
Project partners include Probuild (Builder), Woods Bagot (Architect) and Harry Seidler and Associates (peer review).
Throughout the development works the existing MLC Centre car park, food court, IGA Supermarket and several other retailers will remain open and in operation.
The redevelopment of the MLC Centre retail precinct is expected to be completed by the end of 2021. 
</body></html>

Dexus begins construction on MLC Centre retail precint renewal, Sydney

<html><body>
Dexus made a half yearly net profit after tax of $726.4 million, down 27%, mainly due to net revaluation gains of investment properties being lower, according to their half year results.
The funds from operation, the more accurate measure for real estate investment trusts, was $353 million, up 9.8 per cent on the previous corresponding period.
They have restated a goal/guidance for distribution per security growth of circa 5% for FY2019.
Dexus Chief Executive Officer, Darren Steinberg said it had been a productive six-month period where the company added value through enhancing our development pipeline and attracting new investors to our funds management business.
"This has all been achieved while maintaining low balance sheet gearing."
“In our office portfolio we continue to outperform the MSCI office benchmark over one, three and five years through driving higher rents and lower incentives, particularly in Sydney which has been reflected in property valuations during the period."
“In our funds management business, we now have $15 billion under management with investors and partners that can invest alongside us through the cycle, reinforcing our objective of being the wholesale partner of choice in Australian property,” he concluded.
<img src="https://www.urban.com.au/images/2019/2/6/Dexus%20Office%20Portfolio.JPG" alt="">
Funds from Operations (FFO) reached $353.3 million, up 9.8% on the previous corresponding period.
Gearing was down to 23.7% from 24.1% at 30 June 2018.
There was a one-year unlevered total return of 13% in the Dexus office portfolio and 15.5% in the Dexus industrial portfolio
Office portfolio occupancy increased to 97.3% with Sydney office leasing spreads of +18%.
The group’s $5.2 billion development pipeline progressed, replenishing both the industrial and office development pipelines.
Dexus established a new circa $2 billion unlisted trust that invests in Australian logistics properties seeded from Dexus’s existing portfolio.
They delivered $34.7 million of trading profits (post-tax).
Dexus shares closed up 1¢ to $11.85 per security.
</body></html>

Dexus net profit down 27% due to revaluation on investment properties

<html><body>
Dexus has struck an agreement with Red Energy to supply their NSW building portfolio with renewable energy.
It claims it is Australia’s first supply-linked renewable Energy Supply Agreements (“ESA”).
Dexus, Australia’s largest office landlord, and Red Energy, which is 100% owned by Snowy Hydro, have signed a Memorandum of Understanding for a seven-year renewable contract, to commence from January 2020. 
Dexus will purchase renewable energy off-site to power the base building services of more than 40 buildings. 
This will be achieved through the procurement of renewable energy generation and presents a new lever for Dexus and the property industry to achieve net zero emissions. 
Dexus’ strategy aims to eliminate emissions from its portfolio and create value for Dexus’s customers and investors.
“This is a first for an Australian real estate investment trust and supports our ambition to achieve net zero emissions by 2030,” said David Yates, Executive General Manager for Sustainability at Dexus. 
“We have worked collaboratively with Red Energy to establish a new energy supply model which will deliver renewable energy sourced off-site. Importantly it provides long-term price certainty to insulate our customers from electricity market volatility, while driving down energy costs and supporting our collective carbon reduction goals.
“The ESA satisfies the demand from customers and investors for more reliable, environmentally responsible energy. 
“Over seven years, we expect to source more than 300 gigawatt hours (GWh) of renewable energy via this ESA, which is equivalent to the energy consumed by 38,000 households for a year.”
Paul Wall, Head of Group Sustainability and Energy at Dexus, said: “This agreement allows us to hedge a portion of our power price, providing a buffer against energy market uncertainty. The deal has been struck at below current market rates and leverages the large-scale generation certificates subsidies, resulting in a fixed price for 50% of our energy load over the next seven years. 
“This means we can pass the savings directly to our customers, while operating our buildings using a responsible, emission-free source of energy. 
“This new deal is expected to reduce the retail energy rate which we pass onto our customers through outgoings by more than 10% compared to existing contracted rates.” 
</body></html>

Dexus signs renewable energy supply agreement 

<html><body>
Dexus and GIC, Singapore’s sovereign wealth fund, have joined forces for a new unlisted trust.
The circa $2 billion fund will be known as the Dexus Australian Logistics Trust (DALT) and will look to invest in logistics properties in Australia.
The venture will be with a $1.4 billion logistics portfolio of assets mostly located in Sydney and Melbourne.
The weighted average lease expiry of the portfolio is 5.3 years with occupancy at 98%.
DALT will also add three further sites with development potential and a total future completion value of $0.5 billion.
Subject to FIRB approval, GIC will be DALT’s foundation investor, taking an initial 25% investment in the core portfolio, with put and call rights to acquire an additional 24% by June 2020.
Lee Kok Sun, Chief Investment Officer, Real Estate, said: “This investment reflects GIC’s confidence in the long-term potential of Australia’s logistics sector.
“We believe the structural and consumption growth in Australia, particularly from favourable demographics and growth in e-commerce, will continue to drive demand for logistics properties.
“This portfolio of quality assets in strong locations is well-positioned to capitalise on this and generate steady income over the long term.
“We look forward to partnering Dexus, a leading manager and developer of industrial properties in Australia, to establish and scale this venture.”
4 Turnbull Close, Greystanes, NSW (pictured above)
<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/2018/11/26/27%20Distribution%20Drive%20Truganina%20VIC.jpg" alt="">
27 Distribution Drive, Truganina, VIC (pictured above)
<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/2018/11/26/50%20Foundation%20Road%20Truganina%20VIC.jpg" alt="">
50 Foundation Road, Truganina, VIC (pictured above)
</body></html>

Dexus joins with Singapore sovereign wealth fund for logistics focused unlisted REIT

<html><body>
Dexus have purchased a South Granville infill site for $61.5 million.
Marketing agents Darren Curry and Ray Trimboli of Savills Australia have said it represents the largest 100% freehold land sale in Western Sydney of the year so far.
The 10-hectare site at 54-68 Ferndell Street was sold by a private vendor, Grand Sasanqua Pty Ltd, following an expressions of interest campaign with seven offers received.
Curry said Dexus have the intention of converting the area to incorporate up to 56,000 square metres of gross floor area.
“The site will give e-commerce companies a competitive edge for 'last mile' and 'just in time' delivery capability due to its prime location,” he said.
Trimboli said the property’s location as a major seling point and the site was one of the few remaining large-scale land-bank opportunities remaining in the area.
“The site is well positioned to get freight and product to the Sydney metro region, with less congestion compared to the many outlying industrial areas,” he said.
“Precincts such as Regents Park and Chullora hold a similar appeal for many occupiers.”
Curry said the strength of the Western Sydney industrial development market had been “well and truly tested”.
“These transactions have included Boral’s Greystanes sale to ISPT for $60million, a Goodman sale to Direct Freight Express for $30million at Oakdale, and now the $61.5million South Granville sale to Dexus,” he said.
“We expect the industrial land sales market to continue to perform highly in Sydney, as supply and demand forces are creating healthy competition among purchasers.
“Both owner-occupiers and developers are wishing to acquire zoned, serviced and well-positioned land within close proximity of major existing and under-construction infrastructure projects.”
</body></html>

Dexus picks up South Granville infill site for $61.5 million

<html><body>
Parramatta City Council has given the green light to Dexus to develop a 33-storey office tower at 140 George Street, Parramatta adding to the growing number of office developments within Sydney’s fastest growing city.

The 138m tower will be located on the corner of George and Charles Streets, with the design seeking to capitalise on the site’s unique riverside location along a key stretch of the Parramatta River that contains the ferry terminal and provides views to the north over the river as well as back to Sydney’s CBD.

<figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public//pictures/article-images/37446032635_24ebaa980c_b.jpg" rel="gallery-all" title="140 George's street interface along Charles Street. Planning Image: Bates Smart"><img alt="" class="image-article-full-width-580px" height="488" src="/sites/urban.melbourne/files//styles/article_full_width_580px/public/pictures/article-images/37446032635_24ebaa980c_b.jpg?itok=ITXsquIT" title="140 George's street interface along Charles Street. Planning Image: Bates Smart" width="580"></a>

<figcaption>140 George's street interface along Charles Street. Planning Image: Bates Smart</figcaption></figure>140 George Street will deliver 45,700 sqm of A-Grade office space to the Parramatta office market, providing large, open, contiguous floorplates to maximise fit out flexibility, daylight access and views.

<blockquote>
This development will deliver a world-class office building and strongly supports Parramatta’s growth as a place to invest and to do business. Parramatta continues to attract quality tenants who are enticed by the city’s dynamic workforce, interconnected transport options and vibrant lifestyle offerings.

- Ross Du Vernet, Dexus Chief Investment Officer
</blockquote>

The Bates Smart design considers how the building could benefit the overall well-being of its occupants through the incorporation of high-quality services and exercise facilities such as a gymnasium and swimming pool. Retreat spaces are offered with outdoor terraces, a café and open spaces to capture the sun and fresh air.

<blockquote>
The architectural design proposal sets a framework for the building to establish high quality workplace environments through key design principles. This framework creates a comfortable and enjoyable workplace whilst ensuring long term commercial viability of the building.

The floors have excellent daylight penetration via a large facade to core wall ratio, long north facing orientation of floorplate; high levels of air quality through an advanced mechanical ventilation system; excellent outlook and views along Parramatta River to Sydney CBD; inter-floor connectivity through glazed firestair on the floorplate; multi-use spaces within the building with external terraces for relaxation and breakout areas which all contribute to creating a high level of occupant amenity.

- Bates Smart
</blockquote>

In addition, naturally-lit stairs are provided to enable easy movement between each floor. The slender floor plate with an end core will ensure all occupants have great access to natural light and the sweeping views across Parramatta.

At street level, the base of the tower will be activated with a range of facilities offering amenities accessible to all the occupants of the surrounding commercial precinct. 
With a focus on sustainability, the high-quality façade design balances access to natural daylight against thermal performance. The building will target a 5 Star Green Star Design and 5 star NABERS Energy performance.

Parramatta City Council aims to revitalise the river foreshore as part of a staged 20 year redevelopment. A river Quay with an upgraded ferry terminal, new outdoor entertainment area and terraces and a world class public square are part of a new vision to activate Parramatta River.

The draft ‘City River Strategy Master Plan’ encompasses 31 hectares on the Parramatta River foreshore and proposes major changes for the regeneration of Sydney’s second largest CBD. The River City Plan positions Parramatta River at the front and centre of Parramatta City Centre as redevelopment occurs.

The plan proposes a world-class public domain and a high-quality collection of new buildings that are seamlessly knitted together by a dense network of accessible and active spaces.

<figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public//pictures/article-images/parramatta_city_river_plan.jpg" rel="gallery-all" title="Vision for the Parramatta City River Strategy Design and Activation. Image: Parramatta City Council"><img alt="" class="image-article-full-width-580px" height="326" src="/sites/urban.melbourne/files//styles/article_full_width_580px/public/pictures/article-images/parramatta_city_river_plan.jpg?itok=zaGAWpVW" title="Vision for the Parramatta City River Strategy Design and Activation. Image: Parramatta City Council" width="580"></a>

<figcaption>Vision for the Parramatta City River Strategy Design and Activation. Image: Parramatta City Council</figcaption></figure><h2>PROJECT TEAM</h2>

<ul>
<li>Developer: DEXUS</li>
	<li>Architect: Bates Smart</li>
	<li>Project Management: Savills</li>
	<li>Structure: Enstruct</li>
	<li>Facade Engineer/ESD/Waste: Arup</li>
	<li>Traffic: Arup</li>
	<li>Building Services: NDY</li>
	<li>Fire Engineering: Defire</li>
	<li>Quantity Surveyors: Slattery</li>
	<li>Planning: Robinson Urban Planning</li>
	<li>Landscape Architect: Turf</li>
	<li>BCA Steve Watson &amp; Partners</li>
</ul>
</body></html>

Laurence Dragomir

Dexus receives greenlight for 140 George Street Parramatta

<html><body>
The year's first large-scale permitted site to be offered for sale will see Dexus Property Group exit as the long-term holder of 32 Flinders Street.

Dexus has over recent years headed a planning push to have the site find a different purpose, eventually gaining approval for two residential buildings onsite that could yield hundreds of new apartments overlooking Birrarung Marr and surrounds. The prospective buyer will not only have the right to develop the property, but could also maintain the existing commercial asset. 

Agent CBRE City Sales have the task of moving on the property which currently holds 546 car spaces and generates a net income in excess of $2 million annually.

<figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/image114_0_0.jpg" rel="gallery-all" title="A different perspective at a different height. Image: SJB Architects"><img alt="" class="image-article-full-width-580px" height="384" src="/sites/urban.melbourne/files/styles/article_full_width_580px/public/pictures/article-images/image114_0_0.jpg?itok=3HUlERdS" title="A different perspective at a different height. Image: SJB Architects" width="580"></a>

<figcaption>A different perspective at a different height. Image: SJB Architects</figcaption></figure>The site is listed as holding approval for 47 levels to Flinders Street and a more modest 14 levels building to Flinders Lane. This is down from the original version that has sought a 212 metre outcome including 625 dwellings. The height of the SJB Architects-designed tower has fallen to 175 metres AHD so as not to cast a shadow within 15 metres of the north bank of the Yarra.

The development did gain support form planning officers at 191 metres AHD, and Dexus subsequently lodged an appeal with VCAT over the eventual height. With that effort failing, Dexus's apartment yield for the development would have likely fallen in excess of 20 percent since the project's initial visit to planning.

Alongside the apartment towers, the scheme also involves an extensive ground floor reconfiguration, enhancing pedestrian network connections and at one stage had intended to gift the private portion of Spark Lane to Melbourne City Council.

<figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/image2dex.jpg" rel="gallery-all" title="A new and improved Flinders Street frontage may eventuate. Image: Dexus"><img alt="" class="image-article-full-width-580px" height="368" src="/sites/urban.melbourne/files/styles/article_full_width_580px/public/pictures/article-images/image2dex.jpg?itok=ww9zgK6H" title="A new and improved Flinders Street frontage may eventuate. Image: Dexus" width="580"></a>

<figcaption>A new and improved Flinders Street frontage may eventuate. Image: Dexus</figcaption></figure>Currently, the car park adds little to the Flinders Street urban realm. The prospect if it making way for a new and activated building along with the expansion of the adjoining Lindrum Hotel does raise the likelihood of the rejuvenation of the urban realm in this portion of the CBD.

Under the development application expectations, a rebirthed 32 Flinders Street would:

<ul>
<li>Providing a new pedestrian connection from Flinders Lane to Sargood Lane</li>
	<li>Providing new retail activation &amp; interfaces</li>
	<li>Consolidating vehicular access at Flinders Street, away from the laneways</li>
	<li>Allowing Spark Lane to be optimised by removing the existing 5 level car parking link bridge above</li>
	<li>Providing a new lobby address to Spark Lane by gifting MCC with private land</li>
	<li>Allowing for greater passive surveillance throughout the area</li>
</ul>
</body></html>

silvermb

Dexus opts out of Flinders Street and opens the door to a new urban realm

<html><body>
Property group Dexus' suite strategy is paying off, with its Collins Street building in Melbourne experienced a surge in leasing deals.
There have been 20 transactions for a total of more than 7,000 sqm at 360 Collins Street during the past six months, with tenancies ranging from 190 sqm to 900 sqm, according to leasing agency Colliers International.
Recent deals include Eblueprint, which leased 321 sqm on level 12, WBP Property Group, which secured 373 sqm on level 15, and Hatch, which secured 288 sqm on level 11.
Colliers International’s Adam Davy, Ben Christie and Stephanie Hawkins secured the deals.
Dexus' suite strategy involves cutting up whole floors and refurbishing facilities to accommodate and attract a greater number and range of occupiers.
Hawkins said the upgrades were a key drawcard for new and existing tenants.
<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/2017/07/25/Dexus2.jpg" alt="">
In other deals, investor and media relations advisory firm Market Eye has taken a new lease for 240 sqm on level eight while iBuildNew has committed to 162sqm on level nine after the space was created in a subdivision for two larger leases to CH2M Hill and Intralink Wealth Management.
Level eight was divided to accommodate three tenants as part of the building’s suite leasing strategy, which was a selling point for Market Eye, Davy said.
Apt Wealth Partners has committed to 480 sqm, also on level eight, relocating from 411 Collins Street in a flight to quality.
Davy, who negotiated the five-year lease, said the onsite amenity for Apt Wealth Partners’ clients at 360 Collins Street drove the move to the A-grade asset.
“The building provides a grand new lobby, casual meeting areas, resort-quality end-of-trip facilities and new restaurants,” Davy said. 
“The floor was subdivided to accommodate Apt Wealth Partners’ specific leasing requirements,” he said.
Davy negotiated the deal at a record rental rate for the building.
Recently, Dexus also entered into an agreement to acquire the landmark heritage office building at <a href="https://www.realcommercial.com.au/property-offices-nsw-pyrmont-502222974" target="_blank">100 Harris Street</a> in Sydney’s Pyrmont for $327.5 million, the largest office transaction in the suburb’s history.
 
</body></html>

jonathanchancellor-7SQnKwU6yx

Tenants seek out Dexus' 360 Collins Street office development in Melbourne

<html><body>
Dexus has launched its new brand.
It is suggested the brand reinforces Dexus as a property group that is innovative and customer focused.
Darren Sternberg, Dexus chief executive officer, said it will take a phased approach to rebrand its buildings over the coming months.
"Our new brand has been created to represent who we are today and our future aspirations.
"Our new brand provides an opportunity to lift awareness, shift conversation and enhance value by demonstrating Dexus's point of difference in an undifferentiated market.
"We are redefining the work place through progressive thinking and the courage to innovate; listening, learning, understanding and responding; being active now and in the future; and making the complex simple.
"The core concept behind the brand is that we bring multiple perspectives together, and embrace life in full colour."
The brand video is available <a href="https://www.youtube.com/watch?v=nhJFkCUm8-A&amp;feature=youtu.be" target="_blank">here</a>.
</body></html>

Dexus

Editor's Picks

Have something to contribute?

Developments

New apartments

New townhouses

News

Dexus

Editor's Picks

Receive the latest news stories to your inbox

Have something to contribute?

Developments

New apartments

New townhouses

News