A new 25-storey apartment tower proposed for Mercer Street would push Geelong’s western gateway skyline higher, with Morphy Birrell Property Group lodging plans for a project directly beside one of the city’s most significant heritage streetscapes.

The <a href="https://www.apartments.com.au/architects/fk-australia">FK</a>-designed development at <a href="https://www.apartments.com.au/new-apartments/65-67-mercer-street-geelong-vic-3220">65-67 Mercer Street</a> has now been referred to Victoria’s Planning Minister. The site sits opposite the Geelong rail corridor and immediately south of the heritage-listed St Peter and Paul’s Catholic Church and Ashby Hall precinct.

Rather than compete with the neighbouring ecclesiastical buildings, the proposal adopts a sculpted podium intended to reference the materiality and scale of the heritage context. Planning documents note the design draws cues from the “dark stone brick” church and surrounding masonry buildings, while the tower above transitions into a softer, curved form oriented toward Corio Bay and the Geelong waterfront.

<img alt="First look: Morphy Birrell Property Group targets 25-storey Geelong tower beside landmark church precinct" data-entity-type="file" data-entity-uuid="b797d10c-d4a6-47af-b8df-1aeaa3b382be" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/public%20square.png?VersionId=QGIpcz1x1hKB6lQLl2iobyHqb6PS2Ztc" />

The development forms “Stage 5” of Morphy Birrell Property Group’s broader Mercer Street precinct strategy, following the completion of the 21-storey Miramar tower on Cavendish Street and several additional approved redevelopment stages nearby. Planning consultants Ratio said the proposal “represents an exemplary development outcome” aligned with the strategic ambitions for Central Geelong’s continued urban renewal.

The mixed-use project would replace an existing low-rise commercial building and surface parking area on the 3,320 sqm corner site. FK’s urban context report describes the proposal as a residential development comprising apartments, resident amenities, commercial space, and integrated landscaping positioned to maximise bay views and northern sunlight access.

Renders show a deeply articulated tower with curved balconies stepping above a lower masonry podium that frames a landscaped forecourt facing Mercer Street. The design intentionally preserves sightlines toward the adjacent church buildings, with the podium scaled to reinforce the heritage edge before the tower recedes upward.

<img alt="First look: Morphy Birrell Property Group targets 25-storey Geelong tower beside landmark church precinct" data-entity-type="file" data-entity-uuid="2bdca91e-66f7-4ac7-8baa-2f93bd5b564e" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/geelong%20site.png?VersionId=QOhbino4ZgzKYw5dW3QE14E.2yq.Sv87" />

The planning report highlights the site’s strategic location within 400 metres of key Geelong destinations including Cunningham Pier, the Geelong Station precinct, Deakin University, and the convention centre. Bus services run directly along Mercer Street, while the Corio Bay foreshore sits around 100 metres north of the site.

The proposal arrives amid accelerating redevelopment across central Geelong, where planning policy continues to encourage higher-density housing close to transport infrastructure and the waterfront. Mercer Street in particular has emerged as a focal point for taller apartment development due to its proximity to Geelong Station, the bay, and major civic infrastructure.

Joel Robinson

Morphy Birrell Property Group targets 25-storey Geelong tower beside landmark church precinct

Development giant&nbsp;<a href="https://www.apartments.com.au/developers/hamton">Hamton</a> and joint venture partner Hostplus have revealed the next residential stage of their $3 billion Moonee Valley Park masterplan, lodging plans for 512 more apartments within the precinct on surplus racecourse land at 110 Wilson Street, Moonee Ponds.

The proposed development, dubbed&nbsp;<a href="https://www.apartments.com.au/new-apartments/trackside-house-110-wilson-street-moonee-ponds-vic-3039">Trackside Gardens</a>&nbsp;in the planning application, follows the <a href="https://www.apartments.com.au/news/vic/first-look-exclusive-hamton-and-hostplus-reveal-sixth-stage-of-moonee-valley-park-masterplan">recent unveiling of the sixth-stage Cox Place Precinct</a> and continues the long-running transformation of the Moonee Valley Racecourse into one of Melbourne’s largest urban renewal projects.

Positioned on the north-eastern edge of the racecourse adjacent to CityLink, Trackside Gardens will comprise three residential buildings rising between 61.8 metres and 86.4 metres within a heavily landscaped precinct shaped by Hamton’s Nature Based Cities framework.

The project forms part of the broader Moonee Valley Park redevelopment being delivered by Hamton, Hostplus and the Moonee Valley Racing Club, which is reshaping the 40-hectare racecourse site into a mixed-use neighbourhood with housing, retail, commercial space, hotels, parkland and community infrastructure.

Trackside Gardens sits separately to the recently proposed Cox Place Precinct, a five-building stage comprising around 1,100 residences, two build-to-rent buildings, two build-to-sell towers, retail, office space, and a hotel overlooking the racetrack. Together, the projects continue to accelerate housing delivery across the precinct.

<img alt="First look: Hamton expands Moonee Valley Park masterplan with 512-home Trackside Gardens precinct" data-entity-type="file" data-entity-uuid="5fc1941e-52d3-41c6-abc4-0f13fe8ae5ea" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/DA%20Edits%20%281%29.png?VersionId=7qwRHq5dcvXWNot2hNOgoQhN2GIWudNK" />

Designed by <a href="https://www.apartments.com.au/architects/dko-architecture">DKO Architecture</a> with landscape architecture by Tract, Trackside Gardens has been conceived as a botanical-style residential precinct prioritising canopy planting, communal green space, and vertical landscaping.

“The architectural vision for the proposed development centres around buildings in a botanical park setting that champions the important role of nature,” the planning submission states.

“The proposal incorporates principles of biophilic design, with landscape and environmentally sustainable development influencing the ultimate design response of the buildings and prioritising the ground plane to ensure a high amenity for both occupants and visitors.”&nbsp;

Trackside Gardens will deliver 512 apartments across the three buildings, alongside 518 basement car spaces and 523 bicycle spaces. Around 20 per cent affordable housing is proposed across the broader North East Precinct, equating to around 158 dwellings.&nbsp;

The affordable housing component will be concentrated within the Wilson East building, while the remaining apartments are expected to be delivered as build-to-sell residences.

Trackside Gardens has been designed around Hamton’s Nature Based Cities initiative, founded by Executive Chair Paul Hameister OAM in partnership with the University of Melbourne, Urbis, Ark Resources and Tract. The initiative promotes integrating higher-density urban development with significant biodiversity, tree canopy and landscape outcomes.

<img alt="First look: Hamton expands Moonee Valley Park masterplan with 512-home Trackside Gardens precinct" data-entity-type="file" data-entity-uuid="89353449-7b3c-42fd-8fd8-8bf64a5ef80f" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Article%20Feature%20Image%20%28Grid%29_4.png?VersionId=X8jRt0P2L7fIWjLhfX6gPknXToXIBeLj" />

A comprehensive landscape strategy would introduce deep soil planting, vertical greening, communal gardens, and new pedestrian links throughout the site.

Planning documents state the development is targeting a 5 Star Green Star Buildings rating, a 7.5-star average NatHERS rating, and “Exemplary” Nature Based Cities certification.&nbsp;

The proposal joins an expanding pipeline of approved and proposed buildings within Moonee Valley Park, including the recently launched Eveline apartments and the approved Grandstand North and South towers.

Hamton has increasingly focused on precinct-scale, nature-led communities across Melbourne’s middle-ring suburbs, with projects spanning Hawthorn, Kew, and Moonee Ponds.

Hampton unveils Trackside Gardens, latest stage of $3 billion Moonee Valley Park masterplan

The Paul Gedoun-led <a href="https://www.apartments.com.au/developers/ss-projects">S&amp;S Group</a> has achieved another milestone in its $1 billion transformation of Rainbow Bay on the southern Gold Coast with the completion of the company’s third project in four years, the $160 million <a href="https://www.apartments.com.au/buildings/esprit-217-227-boundary-street-coolangatta-qld-4225">Esprit</a> residences.

Delivered by <a href="https://www.apartments.com.au/builders/hutchinson-builders">Hutchinson Builders</a> and designed by <a href="https://www.apartments.com.au/architects/cottee-parker-architects">Cottee Parker Architects</a>, Esprit buyers have now moved into the 94 apartments across two interconnected buildings at 217-227 Boundary Street.

The successful settlement of Esprit marks another astounding chapter in the S&amp;S story, which launched its highly successful Flow apartments three years ago and created its own ultra-luxury branded fingerprint on an area craving new luxury residences.

Most early purchasers have secured gains of well over $1 million since the project launched in 2021.&nbsp;

[smartcode_project:default project_id=102921 project_image_fid=172129]

S&amp;S Projects Founding Director Paul Gedoun said the completion of Esprit reflects sustained demand for premium apartments in tightly held coastal locations.&nbsp; 
&nbsp;&nbsp; &nbsp; 
“Esprit has attracted buyers seeking a combination of quality design, considered amenity and a location that is becoming increasingly difficult to replicate,” said Gedoun.

“We identified some years ago that Rainbow Bay is a unique market where supply of luxury residences is limited, and we see the settlements in Esprit further underpinning this thinking - that for both owner-occupiers and investors.”&nbsp;

[smartcode_project:default project_id=102921 project_image_fid=172174]

A key feature of the development is ‘Club Esprit’, a 1,000sqm residents-only rooftop level combining wellness and recreation, believed to be a first for the Gold Coast, and which is fast becoming a signature of the S&amp;S brand.

Positioned to capture views across Snapper Rocks, Rainbow Bay and the Tweed River, the rooftop includes a 25-metre lap pool, gym, yoga lawn, sauna and steam facilities, ice bath, private dining spaces, outdoor cinema and landscaped areas for residents.&nbsp;

<a href="https://www.apartments.com.au/project-marketer/pezet-matheson">Pezet Matheson</a> Director Jayde Pezet, who led the sales campaign for Esprit and S&amp;S’s Flow and Awaken apartments, said the project’s performance reflects both the strength of the product and the depth of demand for premium apartments on the southern Gold Coast.&nbsp;

“In some cases, we’ve seen values double since launch, which is a clear reflection of how tightly held Rainbow Bay has become and the level of demand for well-executed projects in this market,” said Pezet.&nbsp;

“Buyers recognised early what S&amp;S Projects was delivering here, and that conviction has been rewarded as the project has progressed towards completion.”&nbsp;

[smartcode_project:default project_id=102921 project_image_fid=214819]

Esprit offers a mix of two- three and four-bedroom apartments and sits within walking distance of the beachfront, cafés and local amenities, reinforcing its appeal as both a lifestyle and investment destination.

The project is the third completed by S&amp;S Projects in Rainbow Bay, following Flow Residences and Awaken Residences, which together have contributed to the suburb’s emergence as one of the Gold Coast’s most sought-after coastal pockets. &nbsp;

S&amp;S Projects is continuing its investment in the area with Radia, a $215 million development currently under construction.&nbsp;

[smartcode_project:default project_id=102921 project_image_fid=172175]

Gedoun said the completion of Esprit signals continued confidence in the southern Gold Coast market.&nbsp;

“We’ve seen strong interest in well-located, high-quality apartments, particularly in areas where future development opportunities are limited."

“That’s been a key factor in the performance of Esprit and the broader Rainbow Bay market”.

[smartcode_project_cta:default project_id=102921]

Owners move in as Esprit completes at Rainbow Bay

Few developers can boast a portfolio across South East Queensland's luxury markets quite like <a href="https://www.apartments.com.au/developers/mosaic-property-group">Mosaic Property Group</a>.

The builder-developer, founded in 2004 by Managing Director Brook Monahan, has projects in planning, on the market, and under construction, from Burleigh Heads and Broadbeach to Kangaroo Point and South Brisbane.

With a pipeline exceeding $2 billion, Mosaic remains highly selective when it comes to development sites, having spent years refining its strategy around feasibility research and product planning. The group is set to continue growing into 2026 and beyond.

In Brisbane, Mosaic currently has three projects in the market. It is in the final release stage at <a href="https://www.apartments.com.au/new-apartments/the-bedford-by-mosaic-16-30-prospect-street-kangaroo-point-qld-4169">The Bedford</a> in Kangaroo Point, which is approaching complete sellout ahead of its late 2027 completion.

[smartcode_project:default project_id=134792 project_image_fid=328123]

Designed in collaboration with <a href="https://www.apartments.com.au/architects/bda-architecture">BDA Architecture</a>, The Bedford comprises 128 two- and three-bedroom residences. A selection of ultra-luxury Masterpiece Series Skyhomes, positioned across the top levels, offer expansive floor plans and sweeping views of the river and city.

High-end inclusions, such as natural stone benchtops, bespoke cabinetry, and Miele appliances, feature throughout all apartments, alongside the Rooftop Recreation &amp; Retreat Sky Terrace. This includes a resort-style pool with sun deck and loungers, spa, cold plunge pool, sauna, steam room, private dining room with a full kitchen, residents' lounge, multiple barbeque and relaxation zones, an outdoor viewing deck, and landscaped gardens with water features, all oriented to sweeping city and river views.

A gym with indoor and outdoor zones, and a golf simulator, further enhances recreational choice within the building.

[smartcode_project:default project_id=134792 project_image_fid=328119]

A defining feature of the development is its integrated mixed-use component, which will deliver Kangaroo Point's first major supermarket, alongside a café and liquor store, bringing long-awaited convenience to the peninsula.

Monahan says The Bedford represents the culmination of a near-decade-long journey, after first identifying the A-grade Prospect Street site in 2016. While they came close to acquiring it at the time, the site was ultimately purchased by Woolworths' development arm, Fabcot. The opportunity resurfaced in 2024 when the site, vacant for nearly three decades, was brought back to market.

Monahan says Mosaic projects often begin years before any formal plans are drawn. Their new South Brisbane development is no exception, with the site first earmarked in 2018.

"We aren't opportunistic," Monahan says. "Every site purchase is carefully considered. As seen with Kangaroo Point and South Brisbane, it can take years to eventuate. There are sites we're looking at now that we may not secure for several years."

[smartcode_project:default project_id=141711 project_image_fid=353495]

A similar story unfolded at <a href="https://www.apartments.com.au/new-apartments/the-carter-by-mosaic-77-linton-street-kangaroo-point-qld-4169">The Carter</a> in Kangaroo Point, opposite The Gabba. Like The Bedford, it is also approaching sellout of its 125 two- and three-bedroom apartments. The majority of sales are attributed to returning customers and referrals, with a balanced mix of investors and a strong majority of owner-occupiers.

BDA Architecture was again engaged to design the 22-storey building, which will feature a suite of wellness and lifestyle amenities, including a golf simulator and cinema, a commercial-grade gym, and a rooftop recreation level with a pool, steam room, sauna, cold plunge, teppanyaki bar, private dining spaces, and landscaped terraces.

Construction is on track for completion in mid-2027.

[smartcode_project:default project_id=151614 project_image_fid=362759]

Mosaic's latest offering is its most ambitious yet, boasting a rare, north-facing riverfront position on Montague Road in South Brisbane.

<a href="https://www.apartments.com.au/new-apartments/the-riversdale-by-mosaic-south-brisbane-91-montague-road-south-brisbane-qld-4101">The Riversdale by Mosaic</a> is a 39-storey tower comprising just over 200 residences and Masterpiece Series Sky Homes. Designed in partnership with Bureau Proberts, it will feature nearly 3,000 sqm of genuine, internationally benchmarked six-star, hotel-style amenities, including a wellness precinct, pool, gym, massage and treatment rooms, cinema, golf simulator, and extensive outdoor dining areas across a two-level rooftop deck.

Early works are underway, with full construction expected to commence in the second half of 2026, and an anticipated late 2029 completion.

[smartcode_project:default project_id=151614 project_image_fid=362759]

Since 2012 alone, Mosaic has completed more than $2 billion in projects and is set to deliver another $2 billion worth of developments, comprising hundreds of luxury apartments, each defined by Mosaic's signature standards of quality, detail, and delivery.

"We never arrive, there is no finish line," says Monahan. "Our ambition is to keep evolving what luxury means, creating design- and lifestyle-led residences in incredible locations, places people genuinely aspire to and want to live, homes that are loved deeply and endure long beyond their moment."

Mosaic's Midas Touch

<a href="https://www.apartments.com.au/developers/urban-property-group">Urban Property Group</a> (Urban) has broken ground at Keira Place, its new major mixed-use residential precinct in the heart of Wollongong CBD.

Held at 120-122 Smith Street, the groundbreaking marked the commencement of construction on Stage 1 of <a href="https://www.apartments.com.au/new-apartments/keira-place-120-122-smith-street-wollongong-nsw-2500">Keira Place</a>, with the opening of the new display suite. 
&nbsp; 
Keira Place is a State Significant Development that will deliver new housing supply, affordable homes and inclusive living options within walking distance of Wollongong’s CBD, coastline, transport, hospital and education precincts.

[smartcode_project:default project_id=144442 project_image_fid=369868] 
&nbsp; 
Stage 1 is now under construction and will deliver 150 apartments across two residential buildings, including 27 affordable housing apartments and 18 specialist disability accommodation dwellings, along with activated ground-floor retail and commercial space. 
&nbsp; 
Urban Co-CEO Patrick Elias said the groundbreaking represented a significant milestone for Wollongong and reflected Urban’s long-term commitment to regional cities.

“Today’s groundbreaking is about turning approvals into homes and moving quickly to deliver much-needed housing in Wollongong’s city centre,” Elias said. 
&nbsp; 
“Keira Place will provide a diverse mix of homes close to jobs, transport and services, while setting a high benchmark for quality, durability and consumer protection.”

[smartcode_project:default project_id=144442 project_image_fid=369869] 
&nbsp; 
Hon. Paul Scully MP, Minister for Planning and Public Spaces, Member for Wollongong said Keira Place is exactly the kind of development Wollongong needs – delivering new homes close to transport, employment and services, while supporting the continued growth and renewal of the CBD.

"This project reflects the Minns Labor Government's commitment to increasing housing supply in well-located areas." 
&nbsp; 
Wollongong Lord Mayor Cr Tania Brown said Keira Place would deliver lasting community benefits for the city. 
&nbsp; 
"Keira Place is a welcome addition to Wollongong's CBD delivering new housing, affordable homes and activated street-level spaces that will benefit our community for years to come," Brown said. 
&nbsp; 
"Urban Property Group's investment reflects the confidence that quality developers have in Wollongong's future, and I look forward to seeing this precinct come to life."

[smartcode_project:default project_id=144442 project_image_fid=369867] 
&nbsp; 
Designed by <a href="https://www.apartments.com.au/architects/cox-architecture">Cox Architecture</a>, with interiors by <a href="https://www.apartments.com.au/interior-designers/dko">DKO,</a> Keira Place prioritises liveability and long-term performance, with landscaped shared spaces, generous apartment layouts and a pedestrian-friendly streetscape along Smith Street. 
&nbsp; 
Residents will have access to landscaped podium areas, communal rooftop amenities with views to Mount Keira and the Wollongong skyline, and convenient ground-level retail.

The development will have 10-year Latent Defects Insurance by Resilience Insurance.

[smartcode_project_cta:default project_id=144442]

Groundbreaking marks start of construction at Keira Place in Wollongong CBD

Elsternwick

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Australia rock legend Ross Wilson, wife Tania Gogos-Wilson and her daughter, actor and model Olympia Valance, have sold their Tudor-style Elsternwick home.
It was the residence of Vallance, who is best known for her role as Paige Smith in Melbourne's famous soap Neighbours.
They paid $1.2 million for the 1930s period home in 2014. It sits next to Wilson's own home, which he has had since 1998.
The three bedroom home on 480 sqm features decking running the length of the established garden.
Glenn Bricker and Joshua Lubofsky at Gary Peer &amp; Associates Caulfield North sold the home after it passed in at auction last month without a single bid.
It had $1.65 million to $1.815 million hopes.
Valance had no need for the home, with aspirations of a move to Hollywood.
She'll be in Australia sparingly no doubt, having last month joined the cast of Network Ten's sports drama Playing For Keeps.
She plays Tahlia, a socialite who is engaged to the captain of an Aussie rules team.
This article was first published in The Weekend Australian 
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firstname1-iYD4UYzvBa

Model Olympia Valance sells Tudor-style Elsternwick home

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Victorian developments have done well at a national property awards ceremony. 
The 2018 Property Council of Australia / Rider Levett Bucknall Innovation &amp; Excellence Awards bestowed honours upon the refurbishment of the former Caulfield Rifle Range and the Caribbean Park business park.
The Hill PDA Award for Government Leadership was presented to VicTrack for its redevelopment of the Bang Bang Rifle Club at 294 Glenhuntly Road in Elsternwick (pictured above).
“The former rifle range building, which had laid vacant for 15 years, presented a range of development challenges – including legacy contamination and heritage protections,” says the Property Council’s Chief Executive, Ken Morrison.
In association with Glen Eira City Council, VicTrack integrated the restored building into Elsternwick Station plaza and the club is now a Indochine-inspired café and bar.
“By collaborating with the private sector and local government, VicTrack has transformed an underused heritage asset into a high-quality retail offering with broader community benefits,” Morrison says.
Caribbean Park (pictured below), owned by the Caribbean Group, took home the LJ Hooker Commercial Award for Best Business or Industrial Park.
In Melbourne’s south-east, the site encompasses industrial, logistics and commercial spaces overlooking a 15-hectare lake. Caribbean Group has held the land since 1942.
“The open spaces and water vistas overlooking Lake Caribbean create a unique setting for business,” says RLB’s Managing Director NSW, Matthew Harris.
<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/2018/5/5/43a4119491e345eeadbabfb093fbabdd.jpg" alt="">
Under a comprehensive masterplan, 40 three-to-five storey office towers are in the pipeline, which will ultimately provide more than 230,000 square metrs of office space.
“Incorporating a fresh produce market, Wi-Fi enabled parkland and transport connectivity, the latest phase of Caribbean Park is innovative, adaptable and sustainable,” Harris says.
 
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jonathanchancellor-7SQnKwU6yx

Victorian developments perform well at national property awards

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An 1890s Elsternwick home, in 925 sqm of Rick Eckersley-designed gardens, has been sold.
Only recently updated with decor by interior designer Fiona Lynch, the <a href="https://www.realestate.com.au/property-house-vic-elsternwick-127653338" target="_blank">five bedroom Gladstone Street home</a> features soaring ornate ceilings
The 13 Gladstone Parade Elsternwick home sold under the hammer for $4.965 million.
<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/2018/3/19/els2.jpg" alt="">
The residence drew offers from five bidders, selling for around $560,000 above reserve.
There's a refined home office, a lounge and formal dining room all with white marble fireplaces.
"The grand, historic bones of this magnificent Victorian home became our muse," Lynch noted.
The client was encouraging of her exploration of colour, so she took an evolutionary approach from room to room.
Soft, earthy clay in the lounge melds into rusty brown in the adjacent study; through to a dining room swathed in striking blue.
<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/2018/3/19/els3.jpg" alt="">
Marshall White agent Sam Hobbs had a guide of $4 million to $4.4 million.
Last year the south-east Melbourne suburb saw three sales over the $4 million mark.
The classic Victorian home, Payneswick as its was known from the late 19th century, last traded at $3 million in 2014.
The earlier owners had Suzie Forge restored and extended it after it traded at $353,000 in the mid-1980s.
This article was first published in the Weekend Australian.
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jchancellor-FAypfDUnLy

Elsternwick trophy fetches half a million over reserve

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The recent investment experience of the popular comedian Dave Hughes should serve as serious lesson for all property investors.
Hughes revealed the reality of what happened following his top priced purchase at the over-hyped auction of the five Elsternwick homes in The Block last October.
He revealed his home loan bankers had valued the five-bedroom home at “much less” than his $3.067 million purchase price.
He also revealed it had not been easy finding tenants, for what will be an investment until the family move in down the track.
<div>
“I went to get a bank loan and they haven’t valued it the same as I paid for it, which is fine, but annoying because there were five bidders,” he told Stellar magazine.
He said it was sizeably less which it made him annoyed. Colorfully so!
“For f*ck’s sake ... I just think it’s good value and in a few years’ time people are going to be going, ‘Well, f*ck, didn’t he do well with it!’ I am playing the long game, all right? That is what I say to my wife, anyway.”
The comedian had gone public with his purchase saying soon after the auction: "It’s a bargain!"
But increasingly cautious lending eyes cast over the home renovated by contestants Josh and Elyse couldn't agree.
It had, after all, sold at $447,000 over its reserve, which notwithstanding the reserve's arbitrary nature, would have raised obvious concerns for any lender. 
Thankfully Hughes had deep enough pockets to fund the lending shortfall to secure his dream home.
But ofcourse not everyone can do so in this scenario.
These buyers instead face the risk of being unable to settle, forfeiting their deposit, and potentially copping the liability of any shortfall when the vendor sells again.
For several years, low bank valuations have been a risk for off the plan buyers as they moved towards settlements of their apartments.
Forfeited apartments have however been surprisingly few, perhaps because buyers have had years to plan their finances.
But low valuations could emerge as an issue for hot headed auction buyers.
Be sure to keep your bidding at a level that fits both your budget and your knowledge of the local market pricing.
Also stay in touch with your bank, keeping them advised on your financial income and expenses, as their lending approvals are fluid.
Banks have tightened what they will lend under pressure from the Australian Prudential Regulation Authority given their anxiety about borrowers' genuine capacity to repay debt.
They want to stop liar loan applications.
Buyers who find themselves in the tricky situation of a low bank valuation should approach a mortgage broker who can go to other lenders to hopefully break the deadlock.
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j.ballantyne1990-6AQqhLzZaK

Dave Hughes struggled to find finance for the Block Elsternwick purchase

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The popular comedian Dave Hughes has revealed his home loan bankers had valued his five-bedroom home on The Block Elsternwick at “much less” than his purchase price.
<div>
“I went to get a bank loan the other day and they haven’t valued it the same as I paid for it, which is fine, but annoying because there were five bidders,” he told Stellar magazine in the Sunday News Ltd weekend papers.
He said it was “enough less that it made me annoyed”.
“For f*ck’s sake ... I just think it’s good value and in a few years’ time people are going to be going, ‘Well, f*ck, didn’t he do well with it!’ I am playing the long game, all right? That is what I say to my wife, anyway.”
<div>
‘It’s a bargain!’ ... Hughesy suggested after he bought the renovation that had been undertaken by Josh and Elyse.
</div>
The final price for the property at 46A Regent Street was $3.067 million.
Property Observer gathers his bank was the NAB.
When Hughes told his wife Holly that he wanted to buy the Regent Street house, she had one rule: keep it private.
She advised in the article that she wasn’t impressed when she saw her husband on the TV screen during the show’s Sunday night finale when the show’s host Scott Cam announced the popular comedian was the proud buyer.
Last week Hughes advised it hadn't been easy to rent.
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NAB valued Dave Hughes Elsternwick Block purchase at less than $3.067 million sale price

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The comedian Dave Hughes has secured a tenant for his The Block, Elsternwick investment property.
But he said it was harder than he thought it would be following its October purchase at auction.
"The Block house has been rented. We found someone to move in," he told the MMM Hot Breakfast this morning, saying he was keen to get the month's rental.
"I emailed my real estate agent about 11pm last night saying when's this month's rent coming into my bank.
"I had trouble renting it ...it took a while," he acknowledged.
"At one point the real estate agent rang me and said someone wants to move in but they have a dog.
 "I felt like saying I don't care if they have a meth lab," he jested under questioning from <a href="https://www.propertyobserver.com.au/http://player.triplem.com.au/melbourne/#/shows/The%20Hot%20Breakfast/20224" target="_blank">MMM property enthusiast Luke Darcy (at 40.35 mins)</a> while plugging his new Channel 10 show, Hughesy We Have a Problem.
He advised those prospective tenants had since put in a doggie door for their little dog.
The October 2017 finale of The Block Elsternwick saw the comedian buy the renovated home of celebrity couple and winners on the night, model Elyse Knowles and her boyfriend Josh Barker.
He paid $3.07 million for the best home on offer which was marketed as Regent House.
Hughes could stand to claim a maximum of nearly $2.4 million in depreciation deductions (below) as a property investor in his tax returns over the next decade or so.
Property Observer noted pre-auction that the forecast rentals were $2000 plus a week. Hughes gave no indication to the MMM team what rental price was secured.
<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/2017/10/30/Hughesmaximum.jpg" alt="">
The minimum estimation of available depreciation by BMT suggest he will be able to claim around $1.95 million over the property's timeline.
<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/2017/10/30/HughesMinimum.jpg" alt="">
Win a free depreciation report by <a href="https://www.surveymonkey.com/r/WZBR2KW" target="_blank">signing up to Property Observer</a>. 
Download a free e-book on the relocating of entire homes.
 
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Comedian Dave Hughes secures tenant for his The Block, Elsternwick investment property 

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Elsternwick may potentially receive a new tallest building as Steller's latest project hits advertising, revealing a Ewert Leaf-designed mixed-use scheme for 233-247 Glen Huntly Road.

A prompt turnaround of the site is on the cards, with Steller simultaneously revealing that they were the purchaser of the site and lodging the project with City of Glen Eira during July. The 2,340sqm site which also fronts Ripon Grove was secured by the prolific developer for $25 million.

233-247 Glen Huntly Road would usurp the completed <a href="http://www.plusarchitecture.com.au/portfolio/element/">Element</a> development nearby at 221-229 Glen Huntly Road as Elsternwick's tallest contemporary development.

<h2>233-247 Glen Huntly Road application summary</h2>

<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/image10steller.jpg" rel="gallery-all" title="Rendered perspective from street level. Planning image: Ewert Leaf"><img alt="" class="image-article-full-width-580px" height="380" src="/sites/urban.melbourne/files/styles/article_full_width_580px/public/pictures/article-images/image10steller.jpg?itok=YZ3PwXe8" title="Rendered perspective from street level. Planning image: Ewert Leaf" width="580"></a>

<figcaption>Rendered perspective from street level. Planning image: Ewert Leaf</figcaption></figure><ul>
<li>Currently onsite: Commercial tenancies and a dwelling</li>
	<li>Proposed: 12 level building at 41.4m in height</li>
	<li>117 apartments: 2 x 1BR, 111 x 2BR, 4 x 3BR</li>
	<li>Apartment size range: 64sqm - 143sqm</li>
	<li>2 retail tenancies: 974.8sqm combined</li>
	<li>1 office tenancy: 896.7sqm</li>
	<li>Provision for 172 vehicles &amp; 127 bicycles</li>
	<li>Communal roof terrace</li>
	<li>Anticipated cost of development: $39.45m</li>
</ul>
<h2>A new iteration</h2>

Steller's current aspirations for 233-247 Glen Huntly Road are not necessarily groundbreaking in that VCAT has in the past endorsed a similar-sized scheme for the site.

During 2011 consent was given for a building rising up to 10 levels and containing 141 apartments. That scheme also included the adjoining church on Ripon Grove which was to have been converted into an additional 21 dwellings, although the church which is described as having architectural and social importance by Heritage Council Victoria is not included within the current application.

233-247 Glen Huntly Road falls under an urban renewal zone within the <a href="http://file:///C:/Users/silvermb/Downloads/Draft-Elsternwick-Structure-Plan.pdf%5C">Draft Elsternwick Structure Plan</a>, allowing this and adjoining sites to receive intensified development.

According to the development team, the current scheme has been designed to comply with relevant planning overlays.

<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/image15ghr.jpg" rel="gallery-all" title="Aerial rendered perspective. Planning image: Ewert Leaf"><img alt="" class="image-article-full-width-580px" height="384" src="/sites/urban.melbourne/files/styles/article_full_width_580px/public/pictures/article-images/image15ghr.jpg?itok=qKow4kur" title="Aerial rendered perspective. Planning image: Ewert Leaf" width="580"></a>

<figcaption>Aerial rendered perspective. Planning image: Ewert Leaf</figcaption></figure><h2>Steller's next wave</h2>

Steller's move on Elsternwick coincides with the news that they are the recent purchaser of St Kilda's former Greyhound Hotel site.

Picking up the vacant block for $7.5 million, Steller may well redesign the approved plans from eight levels into a seven level mixed-use project including 37 apartments and two retail spaces. Addressed 1 Brighton Road, Savills recently handled the marketing campaign for the 911sqm site which included approved plans devised by Terry Harper Architects.

Both Elsternwick and St Kilda reinforce Steller's push into Melbourne's inner south-eastern corridor, following on from the developer's purchase earlier this year of a permitted 20 level tower at 200-204 Wells Street in South Melbourne.

That site holds approval for an Artisan Architects-designed tower of approximately 200 apartments, after being sold via Lemon Baxter earlier this year.

<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/image12_13.jpg" rel="gallery-all" title="St Kilda and South Melbourne were both purchased with approved schemes."><img alt="" class="image-article-full-width-580px" height="204" src="/sites/urban.melbourne/files/styles/article_full_width_580px/public/pictures/article-images/image12_13.jpg?itok=h3d38G58" title="St Kilda and South Melbourne were both purchased with approved schemes." width="580"></a>

<figcaption>St Kilda and South Melbourne were both purchased with approved schemes.</figcaption></figure>
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silvermb

Steller seeks a new Elsternwick high point

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The $3.07 million buyer of Josh Barker and Elyse Knowles’s place on The Block Elsternwick was Dave Hughes, the comedian.
Josh, 28, and Elyse, 24, pocketed a "life-changing" $447,000 over its conservative reserve, plus the $100,000 prize.
They met in Byron Bay - Barker’s hometown — 4.5 years ago and settled in Melbourne together shortly afterwards.
Hughes had attended the prior 2016 Block auction, but without securing any purchase at the Port Melbourne apartment complex.
The Elsternwick house won the series when it sold above its conservative $2.62 million reserve and well above the ANZ's $2,267,000 RealAs price predictor estimate too, that was being touted five days out.
The bidding opened at $2.6 million from the show pony buyers' agent Frank Valentic who again headlined what emerged as a very shallow market of buyer interest across the five relocated house offerings.
Buyers' agent Nicole Jacobs represented three of the buyers.
Twitter went into a silly meltdown queuing whether Hughes could afford the acquisition!
The Hughes' investment purchase reveal came after the first auction offering sold to an unidentified client of buyers' agent Greville Pabst.
“I always thought I would actually need little bit more than that,” Pabst admitted.
Hughes said he "was driving past and I was thinking, "gee it is a good spot, it is a good house, it is a good area." 
<a href="https://www.instagram.com/p/Ba04w94gWVJ/?taken-by=dhughesy" target="_blank">"And now we own it."</a>
“It’s a good street, it’s going to be a great street forever,” said Hughes, who saw the house a few months ago when filming for his KIIS FM radio show.
"We might move in there eventually but we’ll rent it out for a start," he advised.
The comedian was in attendance when the Port Melbourne as The Block apartments went under the hammer last year.
Despite registering to bid for one of the five apartments, Hughes did not raise his number 23 paddle during the televised finale at Port Melbourne.
Picture taken from Dave's Instagram.
<img class="blkBorder img-share b-loaded" src="https://i.dailymail.co.uk/i/pix/2016/11/14/02/3A59B98500000578-3933182-image-m-34_1479089579409.jpg" alt="Paddle shy: A strange experience which saw the father-of-three buy a house when he passed an auction while walking his dog left him concerned to raise his paddle" width="369" height="380">
The comedian spoke about his exprience to Matt and Meshel on KISS FM the following Monday morning confessing he had previously purchased a house on a whim before.
A few years ago he walked past an auction walking his dog and came home with a house. He said he would not do it again.
The Melbourne-based comedian was last in the property news when he sold his St Kilda family home, just two weeks into the marketing.
The renovated three bedroom Victorian terrace was being offered with $2 million plus hopes by Hughes and his wife, journalist Holly Ife who secured $2,112,000.
It cost $1.8 million in 2007 and before than $1.27 million in 2002. 
Fareham was built 1867 by architect William Allen. 
<div>Allen was builder of the first St Kilda Town Hall on the corner of Grey and Barkly Streets in the 1850s, which was demolished in the 1930s. It is said the terrace, along with neighbouring Figsby include some design elements derived from the early Town Hall: the Roman Doric columns, verandah and internal stairs. </div>
It has been the home of the painter Albert Tucker and his wife Joy Hester. Tucker's painting 'Watcher on a Balcony' shows the unusual iron work. The writer Marcus Clarke also lived there.
The couple had bought another St Kilda home in 2010 for $1.84 million. 
Property Observer previously claimed all five of the Elsternwick properties renovated on this year’s series had conservative price guidance.
The indicative sale prices for all five homes were given as between $2.4 million and $2.64 million.
But the total prize pool of the contestants of $1.22 million was well down on last year’s $2.835 million windfall, and this season marked the first since 2011 that a property offering passed in.
It later sold. The prices achieved fell between $2,615,000 and $3,067,000.
Channel Nine has committed to a 14th season again in their preferred Melbourne location, with work expected to begin soon on the former, infamous Gatwick Hotel on down at heel Fitzroy Street, St Kilda.
Hughes recently quit Channel Nine’s The Footy Show to host his own show Hughesy, We Have A Problem on Channel 10 next year.
A fortnight ago, Hughes revealed that he took a wage cut to give his radio co-host, Kate Langbroek, equal pay.
Hughes and Langbroek are moving to the drive slot on the Hit Network in 2018.
 
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Comedian Dave Hughes buys The Block Elsternwick winner from Josh and Elyse

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The Block finale will be on our screens this weekend. We take a look at the homes that are listed live on the web.
Heavy favourites Josh and Elyse's home, known as Regent House at <a href="https://www.realestate.com.au/property-house-vic-elsternwick-126576106" target="_blank">46a Regent Street</a>, leads the way with the bookmakers and the judges.
They are one and a half points above second favourites and rivals Ronnie and Georgia.
The five bedroom home's most impressive feature is the outdoor living area and app-controlled spa pool won the back garden week.
<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/2017/10/23/Josh2.jpg" alt="" style="font-size: 12.16px;">
The large deck and outdoor area was the work of acclaimed landscape Dave Franklin.
The three car garage has the option of a gym.
Last week the judges said despite the cute cottage type like facade, it didn't match the rear modern extension.
Hockingstuart Caulfield agents Todd Newton and Sophie Laforest are marketing the home.
The couple are selling their remarkably similar Coburg home (below) for November auction.
They are looking at a sale between $1.35 million and $1.45 million for their longer-term project.
<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/2017/10/23/Josh%20and%20Elyse%203.jpg" alt="">
 
 
 
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jrobinson-rf4aSBido9

The Block Elsternwick: Josh and Elyse's home

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The Block home designed Sticks and Wombat has been described as exuding the warmth and charm the infectious duo are famous for.
The marketing says it is fitting that the real characters of this years The Block would craft a home of such character and personality.
Built with an extensive use of reclaimed timber, the <a href="https://www.realestate.com.au/property-house-vic-elsternwick-126568418" target="_blank">five bedroom home</a> comes with a 'James Bond' hidden wine cabinet and a private landscaped garden with heated Container pool.
<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/2017/10/23/Wombat2.jpg" alt="">
The New South Wales representatives won the hallway week and more recently the front facade and garden week, the last reveal of the competition.
Noel Jones Doncaster agents Daniel D'Assisi and David Fileccia have the listing.
 
 
 
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