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

Joel Robinson

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

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

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

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

Bottega House secures landmark riverfront site in St Lucia 

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

SIERA kicks off construction at Northcliffe tower Exhale

Local Little Bay residents, along with buyers from premium postcodes across Sydney’s affluent Eastern Suburbs, have dominated purchases in developer-builder Urban Property Group’s first Eastern Suburbs apartment development, <a href="https://www.apartments.com.au/new-apartments/este-little-bay-jennifer-street-little-bay-nsw-2036">ESTE Little Bay</a>.

The $250 million coastal project, one of the first new developments in the area in several years, has proven particularly popular with downsizers, especially those from Coogee and Bondi. One Double Bay downsizer paid $4.7 million for a four-bedroom penthouse, setting a new local apartment price record in the process.

Buyers have been attracted to the combination of coastal tranquillity, premium design and amenity-rich neighbourhood living. The walkable village setting, along with proximity to three of Sydney’s leading golf courses, New South Wales Golf Club, St Michael’s Golf Club and The Coast Golf Club, has also been a key drawcard.

[smartcode_project:default project_id=112343 project_image_fid=352689]

Built across two low-rise buildings designed by <a href="https://www.apartments.com.au/architects/hill-thalis-architecture-urban-projects-pty-ltd">Hill Thalis</a> and set along a lush, landscaped green spine, designed by leading landscape architect <a href="https://www.apartments.com.au/landscape-architect/arcadia-landscape-architecture">Arcadia</a>, ESTE Little Bay offers a collection of one, two, three and four-bedroom residences with interiors by Richards Stanisich.

<a href="https://www.apartments.com.au/developers/urban-property-group">Urban Property Group</a> Sales Director, Tom McIvor said the response to ESTE has been "nothing short of extraordinary."

“Buyers have been quick to recognise ESTE as a rare opportunity to invest in a coastal sanctuary that offers both seclusion and connectivity to the heart of Sydney,” McIvor said.

[smartcode_project:default project_id=112343 project_image_fid=352687]

<a href="https://www.apartments.com.au/project-marketer/srm-residential">SRM Residential</a> Senior Director, <a href="https://www.apartments.com.au/project-marketer/srm-residential">Clayton Ross</a> said the local market has responded incredibly well, driven by ESTE’s exceptional location and the rarity it offers.

“We’ve seen strong interest from a variety of buyer groups, all of whom are drawn to the exclusivity and quality of the build and construction by the 4.5-star iCIRT-rated builder / developer, Urban Property Group. There’s truly nothing else like it along Sydney’s coastline.”

[smartcode_project:default project_id=112343 project_image_fid=352690]

The project also includes robust buyer protections, including Resilience Insurance’s Latent Defects Insurance, providing 10 years of structural cover, and an independent iCIRT-rating of the developer.

“The iCIRT-rating adds another layer of confidence,” Ross added. “Buyers see it as a safeguard for their investment and their lifestyle.” A highlight of ESTE’s offering is its exclusive wellness amenities, including a heated rooftop infinity pool and outdoor heated spa, a state-of-the-art Technogym fitness centre, and a sauna.

<a href="https://www.apartments.com.au/new-apartments/este-little-bay-jennifer-street-little-bay-nsw-2036">ESTE Little Bay</a> is topped out and is on track to complete towards the end of 2026, with residents moving in before Christmas.

[smartcode_project_cta:default project_id=112343]

Eastern Suburbs buyers snap up ESTE Little Bay apartments

Gold Coast

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Melbourne is the No.1 capital city, still buoyant in contrast to Sydney’s steady decline. But South-East Queensland – the vast urban area including the Gold Coast, Brisbane and the Sunshine Coast – now has more growth suburbs than the Melbourne metropolitan area.
In simple terms, Melbourne has been strong for at least two years while many South-East Queensland markets are still quite early in their cycle. There are strong growth precincts right throughout this region, headed by Gold Coast City, but with Logan City, Moreton Bay Region and the Sunshine Coast Region all providing lots of rising markets.
According to our quarterly surveys of sales activity for The Price Predictor Index, the Gold Coast remains the clear national leader among the Local Government Areas of Australia. It has the most growth suburbs, by a wide margin, as has been the case in recent surveys. Among the standouts are some of the canal suburbs south of Surfers Paradise.
They include Burleigh Waters, where sales rates have risen from 85-90 per quarter 18 months ago to 140 more recently. Mermaid Waters has also shown a pattern of rising sales levels, while nearby Miami has increased sales from 56 to 69 to 81 to 87 to 95 in consecutive quarters.
The Moreton Bay Region in Brisbane’s north stands out as a market that has come from a long way back in the field to challenge Logan City as the No.1 market in Brisbane. If the pattern continues, Moreton Bay Region will be Brisbane’s market leader in the next quarterly survey.
Three suburbs in this LGA make our national top 30 list of growth suburbs – Morayfield, Deception Bay and Warner. Sales rates have doubled over the past two years in Morayfield, while sales in Warner over the past five quarters have been 57, 60, 75, 87 and 92. 
Logan City, which borders the Gold Coast to the south and Brisbane City to the north, led the revival of Brisbane markets in 2015 and continues to be the standout precinct (just ahead of Moreton Bay). It has more growth suburbs than any other Brisbane precinct, headed by Beenleigh, the LGA’s administration centre, where house sales have increased steadily over the past 18 months. Another standout suburb is affordable Shailer Park, where sales have increased steadily from 65 per quarter 18 months ago to 105 in the survey. 
Meanwhile, there are growing signs that Melbourne’s up-cycle is close to its peak. As in many growth markets, Melbourne’s cycle started in the near-CBD areas and over a couple of years has gradually rippled further out. During 2015 the leading precincts were mostly middle-market areas like the outstanding Whitehorse LGA (where some suburbs recorded 20%-plus growth in their median prices).
Now the outer-ring areas are rising to prominence, always a sign that the cycle has almost run its course. Among the Melbourne market leaders are the Casey LGA in the far south-east, the Brimbank LGA in the west and the Whittlesea LGA in the far north.
Growth is the Whittlesea LGA is headed by the suburb of Mill Park (median house price $480,000), where sales rates have been 87, 108, 109 and 140 in the past four quarters. Other growth suburbs in this precinct include Mernda, Wollert and Thomastown.
The LGA of Brimbank is an under-rated area in Melbourne’s west, centred on the suburb of Sunshine. This area has been stigmatised as downmarket in the past but its perception and market performance is improving on the back of good infrastructure and urban renewal developments. Deer Park is a standout suburb, with sales totaling 68, 97, 95, 100, 110 and 115 in the past six consecutive quarters.
That growth pattern is now being reflected in a steady rise in median prices.
Terry Ryder is the founder of <a href="https://www.hotspotting.com.au/" target="_blank">hotspotting.com.au</a>. You can <a href="https://mailto:ryder@hotspotting.com.au" target="_blank">email him</a> or follow him on <a href="https://twitter.com/hotspotting" target="_blank">Twitter.</a>
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terryryder-YECXbqmri2

SEQ overtaking Melbourne in price growth prospects: Terry Ryder

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<div>
Australia's major banks were still shy of lending in the off the plan Gold Coast development space with all the major viable projects on the Gold Coast facing challenges when it came to funding.
"The big banks are still very wary of the Gold Coast," PPB Advisory's Garry McLean told the Australian Financial Review.
"They have been here before and have been hurt by settlement failures, but in saying that, there are actually some very good opportunities there."
Australia's major banks were burnt during the financial crisis when hundreds of investors refused to settle on off-the-plan purchases.
Urbis was currently monitoring 26 Gold Coast projects which could be launched within the next six to nine months that would bring 2500 apartments to the market.
It has been suggested at the current Gold Coast sales rate, that this number represented about 18 months' supply.
<div>
There has been a flurry of property developers back for another run, but this time with their offspring in charge, the paper noting developers such as Jim Raptis and Con Nikiforides.
</div>
<div>
It is Con's sons William, John and James who are about to start construction on a development called The Park at Mermaid Beach. 
Patriarch Jim Raptis's son Evan Raptis has a company called Emandar, which has been developing low-rise apartment towers throughout the Gold Coast.
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jchancellor-FAypfDUnLy

Banks still nervous about off the plan at the Gold Coast

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The construction at the Bohème Apartments in Robina is heading skywards this week as Robina and Varsity Lakes continue to solidify its position as Gold Coast City's centre for population and employment growth. 
Driven by local first home buyers, professionals, empty nesters and southern investors, the dual tower development is more than 60 percent sold, with sales topping $41 million.
The tower is being constructed by Brisbane based builder Cullen Group and is due for completion later this year.
Comprising of 52 apartments across seven levels, the construction of the two basement levels and podium for tower one have just been completed. 
Robina/Varsity has been identified as one of Gold Coast City's principal growth areas over the next t35 years by Australian futurist and demographer Bernard Saly and property analyst Urbis Research.
By 2050, Robina/Varsity's resident population and employee base are expected to more than double, with the area's economy predicted to grow 280% to $5.4 billion annually.
There is already a $1 billion-plus development and infrastructure investment underway in Robina, which will 'future-proof' the area and developer new projects to meet the needs of its growing population, which is expected to increase 
Bohème Apartments is part of The Robina Group's $250 million CityVillage masterplanned community, a waterfront urban village.
When complete it will comprise of 129 apartments across two towers, with facilities including a pool and barbecue terrace.
Two bedroom apartments at Bohème Apartments start from $459,000.
For more information, <a href="https://www.cityvillage.com.au/boheme/" target="_blank">click here</a>.
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jrobinson-rf4aSBido9

Queensland's Bohème Apartments stretching skyward

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The preliminary clearance rate for the Gold Coast stands at 29.4 percent from 66 total auctions for the week ending March 20, according to CoreLogic RP Data.
Victoria's Geelong came in at 68.8 percent and NSW's Wollongong at 5.3 percent.
<a href="/images/2016/03/21/Screen%20Shot%202016-03-21%20at%201.04.44%20PM.png" target="_blank">Click to enlarge</a>
<img src="/images/2016/03/21/Screen%20Shot%202016-03-21%20at%201.04.44%20PM.png" alt="">
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po-LsXgBTHBmX

Gold Coast clearance rate stands at 29.4 percent: CoreLogic RP Data

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 A freehold that is home to popular Gold Coast nightclub Sin City has been sold by Ray White Commercial Gold Coast for $5.2 million.
The building, rented by Sin City, at 57/22 Orchid Avenue, Surfers Paradise, was sold post auction to a Melbourne-based investor.
The deal was brokered by Michael Willems of Ray White Commercial on behalf of Gold Coast night club kingpin Jamie Pickering. 
"The premises have been used as a nightclub since 1980 and Sin City has leased the property for the last 12 years. It is the busiest nightclub in the heart of the Surfers Paradise tourist strip," Willems said.
The building returns a net rental income of about $568,700 per annum.
“Sin City’s owners recently secured a new 10 year lease on the building with two five year options,” he added.
In January, Pickering told the Gold Coast Bulletin the sale was to help pay for a $50 million land development. “Need the money for development of Mackay, a 425-lot ocean frontage overlooking the gateway to the Whitsundays.” 
Willems said the building offered a net lettable area of 580 sqm and the site offered potential redevelopment opportunities subject to council approval.
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prateek24-ezbwHMbNAk

Sin City building in Surfers Paradise fetches $5.2 million    

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<div style="text-align: left;" align="center">A retail investment property at Mermaid Beach on the Gold Coast has been sold at auction by Ray White Commercial for $9 million.</div>
<div> </div>
<div>The property at 2211 and 2215 Gold Coast Highway was snapped up by a local investor for a yield of nearly 4.9 per cent.
The property attracted 186 enquiries, said selling agent Michael Willems of Ray White, acting on behalf of Michael Kennedy.  
</div>
<div>“We had some very keen bidding and it was a pleasing result to see this standout commercial property in a popular retail and café precinct sold under the hammer for $9 million,” he said.</div>
<div> </div>
<div>The property comprises two buildings on a total land area of 1,555 sqm and includes 14 tenancies generating net rental income of nearly $447,000 per annum. The net lettable area is about 817 sqm.</div>
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jonathanchancellor-7SQnKwU6yx

Investment property at Gold Coast's Mermaid Beach sells under the hammer for $9 million

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The Southport suburb (postcode 4215), had a median residential rent of $402 per week in the 30 days till the first week of February.
Sitting among <a href="https://rent.com.au" target="_blank">rent.com.au</a>’s 10 most searched suburbs in Australia, it has long been considered the central business district of the Gold Coast.
The median figure crept up 1.9% or $7.50 from the previous quarter, and higher than the $390 median rent for surrounding suburbs of Arundel, Ashmore, Molendinar, Parkwood, Labrador, Bundall, Main Beach, Surfers Paradise, said the report.
The average days on market for all rental properties advertised in Southport within the last 90 days too fell by a week to 26 days from the previous quarter. 
There were a total of 158 rental properties advertised in Southport within the recorded 30-day period, up 33 from the previous 30 days, with rents in the range of $280 per week for a one-bedroom dwelling to $825 pw for a 5+ bedroom place.
The suburb has a total of 6,181 rental properties, making up 53.8% of all properties in Southport (ABS, Census Data, 2011).
The suburb composition is made up of 55.9% houses and 44.1% apartments, according to the ABS data. 
Property Observer found a couple of newly listed dwellings around the median range on <a href="https://rent.com.au" target="_blank">rent.com.au</a>
<ol>
<li>A one-bedroom in a high-rise at <a href="https://www.rent.com.au/property-apartment-southport-4215-1036931" target="_blank">9 Lawson Street</a> has a rent of $410 pw.</li>
<li>A three-bedroom townhouse at <a href="https://www.rent.com.au/property-townhouse-southport-4215-1679086" target="_blank">27/47 Pohlman Street</a> is available for $400 a week</li>
</ol>
The ASX-listed Rent.com.au Ltd achieved a record 615,405 unique visitors to its website in January, followed by more than 610,000 unique visitors in February. 
Landlords are able to list their property for free in a limited time offer on <a href="https://www.rent.com.au/" target="_blank">rent.com.au</a>. 
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Queensland’s Southport among the most searched list of rent.com.au; median rent $402 pw

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New apartment sales on the Gold Coast jumped by more than 80 per cent in 2015 and the trend is expected to continue this year, with two-bedroom homes the most popular, according to new research by consulting firm Urbis.
A total of 1,494 new apartments were sold last year compared with 825 in 2014, reveals the latest Gold Coast Apartment Essentials report.
Affordability, foreign investment and population growth contributed to quarter-on-quarter sales growth in 2015, said Urbis senior consultant Lynda Campbell.
“The Gold Coast apartment market has experienced its highest level of activity in almost eight years, after a lag in residential construction following the global financial crisis,” Campbell said.
Urbis said it was monitoring 26 new projects which could launch during the next six to nine months and bring some 2,500 new apartments to the market, which at the current sales rate, is roughly 18 months’ supply. However, demand is expected to increase as the Gold Coast experiences one of the highest rates of population growth (2.3 per cent) in South East Queensland, the latter figure is according to the Queensland Treasury and Trade.
“Retail, health and transport projects including the $670 million redevelopment of Pacific Fair Shopping Centre and stage two of the Gold Coast Light Rail are expected to continue to drive lifestyle factors and demand in 2016.”
Sales activity ramped up in the last quarter of 2015 with 453 transactions across 58 projects, compared to 416 sales in the previous quarter and 303 in the corresponding period of 2014.
The luxury apartment market also experienced a sales surge between October and December with 37 sales exceeding $1 million, compared with 12 in the previous quarter and 18 in the corresponding period of 2014.
The majority of activity was around the Gold Coast Central precinct which recorded 254 transactions for the quarter and 714 sales in total for 2015.
The two-bed two-bath apartment product was the most popular product type for the year with 428 total sales across the precinct.
*Coastal Fringe suburbs include Arundel, Parkwood, Molendinar, Ashmore, Benowa, Bundall, Carrara, Robina, Clear Island Waters, Merrimac and Varsity Lakes.
*Gold Coast Central suburbs include Labrador, Southport, Main Beach, Surfers Paradise and Broadbeach and Broadbeach Waters.
*Southern Beaches suburbs include Bilinga, Burleigh Heads, Burleigh Waters, Casuarina, Coolangatta, Currumbin, Kingscliff, Kirra, Mermaid Beach, Mermaid Waters, Miami, Palm Beach, Tugun and Tweed Heads.
 
<a href="/images/2016/03/17/Screen%20Shot%202016-03-17%20at%203.37.56%20PM.png" target="_blank">Click to enlarge</a>
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Urbis Gold Coast 2015 Q4 Apartment Essentials report snapshot:
- The Gold Coast apartment market has experienced its highest level of activity in almost eight years.
- The Gold Coast’s new apartment market has witnessed six consecutive quarters of increased sales volumes.
- The Gold Coast recorded a total of 453 sales during Q4 2015 compared to 416 sales in Q3 2015 and 303 in Q4 2014.
- The weighted average sales price of apartments on the Gold Coast is $609,658 - increasing by $56,416 compared to Q3 2015.
- Based on surveyed data, the Coastal Fringe* remains the most affordable precinct on the Gold Coast to buy a new apartment with an average weighted sale price of $429,321.
- Based on surveyed data, the Southern Beaches* remains the highest priced precinct on the Gold Coast to buy a new apartment with an average weighted sale price of $905,102.
- The two-bed two-bath product remained the most popular across all precincts, equating to 65 per cent of total sales.
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Gold Coast apartment sales surge 80%: Urbis

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The Windmill, as its design suggests, is a retail property in Gold Coast hinterland's Mudgeeraba well suited for an investor or home-based operator and is up for sale for offers above $659,000.
This <a href="https://www.realestate.com.au/property-house-qld-mudgeeraba-120556117" target="_blank">410 Gold Coast Springbrook Road</a> property on the main road to the Springbrook National Park is set on approximately one acre and offers a complete business with work-from-home set up.
The fully renovated place features a retail store, commercial kitchen, reception/ bar, restaurant and/or cafe with multiple formal and informal dining areas, toilets, private function venue, parking and a two-bedroom residence.
The full-sized reception/ bar includes a point of sale, coffee machine and services the formal and informal dining areas. There is also an alfresco seating area. 
The property is still for sale through Luke Fredericton of Holmes &amp; Moore after being on the market for over 1000 days.
 
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Mudgereeba Windmill still for sale

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Gentrification can be an academic discussion but identifying when it takes hold, and quantifying its impact on property is often best left to professionals that spend their days in the suburbs being felt, say Herron Todd White in their March 2016 update.
The term was coined in 1964 by British sociologist Ruth Glass when referring to the changes she observed in the social structure and housing markets in certain areas of inner London.  
HTW took a detailed view of gentrification hotspots.
Certainly staying ahead of the gentrification curve can prove profitable to investors, say HTW.
The Gold Coast
The Gold Coast is a rising market, according to latest HTW residential property clock. 
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The residential area loosely bounded by Queen Street to the north, Bauer Street to the east and Chester Terrace to the west is in the southern fringe of the Southport CBD and has always been well regarded by the local market.
Its benefits are proximity to the commercial CBD, medical precinct and Broadwater Parklands with a good public bus service. It features wide streets with a mix of older character style dwellings and slightly dated semi-modern medium density low rise and townhouse style unit developments. However, the area has become dated with a loss of its former appeal and identity. 
The area has now been rezoned as Special Purpose by the Gold Coast City Council which allows more relaxed density and height building restrictions;
The precinct has recently added two light rail train stops within close walking distance providing easy commuter connection through to Surfers Paradise and Broadbeach to the south and through the CBD and onto the new Gold Coast University Hospital and Griffith University in Parkwood to the north. (Approvals have now been granted for Stage 2 to continue the line through to Helensvale and make connection with the Brisbane City/ Airport rail system);
Southport CBD itself is undergoing continuing upgrades including the introduction of its own China Town precinct, road upgrades and announced renovation of Australia Fair, one of the Gold Coast’s largest retail shopping centres. Southport has also secured the upgrade and expansion of a new aquatic centre in preparation for the 2018 Commonwealth Games and the surrounding Broadwater Parkland has and is undergoing continued upgrade;
In general, land values are pushing up as the Gold Coast expands mainly to the west and through the northern corridor making centrally located areas closer to the Broadwater such as Southport more desirable.
There has been keen development and investment in this residential precinct reflected in both single detached dwellings and low to medium rise investment. Some examples are: 
• The Rise Southport, a seven level 30 x 2-bedroom unit complex situated at 43 Lenneberg Street on a 1,016 square metre site which was completed in 2015. Units were reportedly sold by the developer very quickly in the range of $370,000 to $420,000.
• 18 Lenneberg Street, a circa 1900, renovated two level, 3-bedroom, 4-bathroom detached character dwelling (living area of 344 square metres and land area of 701 square metres) recently went to contract for $1.1 million. This is a signifcant sale as when the property sold in May 2014 for $850,000 it was reportedly in a slightly inferior condition.
Another highrise tower complex with 55 levels to be known as Brighton on Broadwater – Sundale is due to be completed by October 2016. Currently the developer is marketing the non-serviced units between circa $425,000 and $950,000 (subject to confirmation).
Entry-level investment can still be achieved in the subject precinct with say a typical 1970s basic two-bedroom, one-bathroom unit in the range of $270,000 to $300,000. A 3-bedroom brick and tile townhouse might cost an investor in the range of $390,000 to $440,000.
In the short to medium term HTW says that this area will continue to go from strength to strength. The area will continue to modernise with higher density developments replacing some of the older less desirable buildings blended with renovated and prestige character dwellings. 
<a href="/images/2016/03/11/Screen%20Shot%202016-03-11%20at%201.03.25%20PM.png" target="_blank">Click to enlarge</a>
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ISLE OF CAPRI, SURFERS PARADISE
This central popular residential area was originally developed in the 1970s and until recently was serviced by an older style shopping centre. This centre has recently been rebuilt, has a new tenant mix and has been well received by locals.
This locale has seen good growth in value levels lately which can in part be attributed to the improved retail facilities and also to its proximity to the new tram line.
35 Salerno Street recently sold at auction for $675,000. This is a deceased estate sale of a circa 1980s single level brick dwelling providing basic 2-bedroom, 1-bathroom accommodation (living area of 112 square metres). The sale represents entry level for a non-waterfront block here. The majority of value was in the land with the improvements having minor added value.
114 Amal Drive went to contract in February 2016 for $1.55 million. This is a 4-bedroom, 3-bathroom, 4-car garage dwelling in a mostly renovated condition with rear river frontage.
Unit 43 Raffles on Capri sold last year for $425,000. This is a modern style two-level townhouse unit within a security-gated complex providing 3-bedroom, 2 -bathroom accommodation and tandem carport. It last sold November 2013 for $365,000. 
With the population of the Gold Coast continuing to rise and demand for centrally located property in close proximity to facilities and the beach strengthening, this suburb can be expected to increase in popularity and value over the next five years. 
PALM BEACH 
Palm Beach on the southern Gold Coast is situated to the east of the Pacific Motorway, south of Burleigh Heads and Tallebudgera Creek and North of Currumbin, Tugun and Currumbin Creek. The eastern boundary of the suburb is approximately four kilometres of beach front with a number of homes, high-rise unit complexes and parklands having direct beach frontage. There are also a number of canals and lakes throughout the area. While this all sounds very appealing, in past years the area has had a bad reputation for being a lower class locality compared to a number of nearby and neighbouring suburbs such as Currumbin, Burleigh Heads and Mermaid Beach.
However, in recent years the area has been regenerated into a trendy, locals style beachside suburb with a vibrant cafe and restaurant culture and pristine beaches being two of the driving forces in the change for the area. On the back of this, there has been strong market demand for properties in the area. 
One of the main positive points in the marketplace was its affordability in relation to the neighbouring suburbs previously mentioned. 
However, on the back of this new wave of popularity and demand, prices have strengthened to a point where most of the Palm Beach residential market is now at historical peak values, some property types being circa 20% above pre-GFC prices. 
For example, 35 Coolibah Drive, Palm Beach sold for $485,000 in October 2007 when the Gold Coast market was last booming. The dwelling has since had minor upgrade renovations completed (estimated cost of approximately $50,000), and recently sold in September 2015 for $620,000. 
In a shorter space of time, 31 Twenty Fifth Avenue, which is an older asbestos beach shack on a 405 square metre allotment, sold in January 2014 for $480,000 and sold in inferior condition in 2015 for $530,000. The vast majority of the value is the land component with very minor added value for the improvements. 
Over the past 24 months, a large number of older style homes have undergone major renovations in order to modernise. In other cases, older style dwellings have been demolished to make way for modern housing and duplex units which are in very strong demand and attracting premium sale prices. There is also a select number of new beach front low rise and medium rise developments of good to prestige quality under construction or having been recently completed with amalgamation of beach front and highway front sites becoming popular, where viable. 
Entry-level housing towards the western side of Palm Beach is now in the vicinity of $500,000 and beach shacks in The Avenues closer to the beach are seeing prices in the high $500,000s to early $600,000s. 
The upper end of the housing market comprises canal front properties and can vary from the mid to high $1 million mark to beach front homes from $2.5 million plus. 38 Mallawa Drive sold for $1.667 million at auction in September 2015 and was then used as a Boystown Prize Home Auction. At the time, the sale price was considered very strong but the market has continued to improve since.
While the market is booming in Palm Beach at present, there is a good chance that market conditions will fluctuate over the next five to ten years. However, with the likely extension of the light rail network (from Broadbeach through to Coolangatta Airport) and continued redevelopment of properties in the area, the demographic of the area may improve and continue to be one of the stronger markets on the Gold Coast. 
 
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