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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[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

Hotel

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The Tea Gardens Hotel Motel, on the banks of the Myall River, has a new owner.
Hospitality industry veterans Laundy Hotels bought the hotel, reports the Myall Coast Messenger. The deal value was not disclosed.
The <a href="https://mq.com.au/1636938/" target="_blank">172 Myall Street</a> hotel is the only one in Tea Gardens, says the ad by selling agents Gerry Quinlan and John Manenti of MQ and Associates. The hotel is a 2-1/2 hour drive from Sydney.
Built on 3,646 sqm site, the property comes with 15 poker machines and 21 motel units. 
Before the deal, the hotel had the same ownership for 68 years.
The Laundy family have been in the hotel industry for three generations and Arthur Laundy (Jnr) has appointed Steve and Trish Rogers as the new managers of the hotel. The two say they want to make it a showpiece for Tea Gardens, according to the Myall Coast Messenger.
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prateek24-ezbwHMbNAk

Tea Gardens Hotel snapped up by Laundy Hotels

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The Continental Hotel at Sorrento is under offer.
It was listed by the Di Pietro family with $15 million expectations last March.
<a href="https://www.continentalhotel.com.au/History.htm" target="_blank">The "Conti"</a> stands tall at its hillside 1-21 Ocean Beach Road position.
The four storey limestone building sits on a 3,580 square metre holding.
The hotel, freehold and business, was offered through Sothebys International agent Rob Curtain, in conjunction with CBRE.
The pioneer thespian and entrepreneur George Coppin built the mansard-capped hotel in the 1870s. The seaside spruiker shipped wealthy Melburnians to the Mornington Peninsula on his paddle steamers, and then put them on his tramway to stay at his Hotel Continental.
In 1890 the hotel was bought by Isaac Edward Bensilum for £6,000, the original cost of the hotel being £14,000.  
Bensilum who ran the hotel with his wife Nellie, built The Athenaeum in 1894.  
Owners and Licensees:
<table border="4" cellspacing="0" cellpadding="10" align="center"><tbody>
<tr>
<td bgcolor="#ffffff">
1875 – 1890 
</td>
<td bgcolor="#ffffff">
George Coppin – licensee John Crawford 
</td>
</tr>
<tr>
<td bgcolor="#ffffff">
1890 – 1913 
</td>
<td bgcolor="#ffffff">
Isaac Edward Bensilum 
</td>
</tr>
<tr>
<td bgcolor="#ffffff">
1913 – 1921 
</td>
<td bgcolor="#ffffff">
T E Hawkins 
</td>
</tr>
<tr>
<td bgcolor="#ffffff">
1921 – 1923 
</td>
<td bgcolor="#ffffff">
L Fitzgerald 
</td>
</tr>
<tr>
<td bgcolor="#ffffff">
1923 – 1953 
</td>
<td bgcolor="#ffffff">
L De Vine 
</td>
</tr>
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<td bgcolor="#ffffff">
1953 – 1960? 
</td>
<td bgcolor="#ffffff">
N &amp; G Fernhead 
</td>
</tr>
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<td bgcolor="#ffffff">
1960 - 1990 
</td>
<td bgcolor="#ffffff">
tbc 
</td>
</tr>
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<td bgcolor="#ffffff">
1996 - current 
</td>
<td bgcolor="#ffffff">
 Di Pietro Family
</td>
</tr>
</tbody></table>
Source: The Continental Hotel
It was on the toss of a coin - a choice between Australia and America - that Coppin sailed from Sussex on the Templar, arriving in Sydney in 1843 with his partner, Maria Watkins Burroughs, where he was to perform at the Royal Victoria Theatre on Pitt Street.
Coppin briefly owned the Clown Hotel, directly opposite the theatre, which failed as Sydney's first permanent musical entertainment venue, before he moved south.
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jchancellor-FAypfDUnLy

The Continental Hotel at Sorrento under offer

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A successful family-run motel in the western metropolitan area of Melbourne has been bought by a Chinese investor. 
Located at <a href="https://www.realcommercial.com.au/property-hotel+leisure-vic-ardeer-501619905" target="_blank">608 Ballarat Road, Ardeer</a>, the Sunshine Motor Inn is a 3.5 star motel, owned and operated by father and son team of John and David Swain for two decades. 
CBRE Hotels’ Scott Callow and Joseph Du Rieu brokered the deal for the Swain family via an expression of interest campaign. 
The motel consists of 44 refurbished accommodation rooms, a two-bedroom manager’s residence, swimming pool, public bar, restaurant, a modern commercial kitchen with wood fired pizza oven and an extensive bitumen sealed car park. 
“Although situated in a primarily industrial area, the Sunshine Motor Inn is popular within the fast growing northern and western suburbs industrial areas, providing easy access off the Western Ring Road,” Du Rieu explained as the reason for the sale.
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j.ballantyne1990-6AQqhLzZaK

Chinese investor snaps up motel in Melbourne

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Quest apartment hotels have opened their doors to a new hotel in Chatswood.
The new 100 room hotel at 38 Albert Avenue increases Quest's already strong presence in Sydney.
The building will be developed by international trading and investment company Wu International. 
There are 100 studio, one bedroom and two bedroom apartments available.
The building includes onsite parking and a gym, with rooms featuring Foxtel and free wifi. 
CEO of Quest Zed Sanjana was delighted to open another Quest in NSW, given Sydney being a leading location in the apartment hotel operator's growth strategy.
"Sydney is one of our key growth areas for the coming decade - expanding our presence in this diverse and thriving city will strengthen out brand and cement our position as the accommodation provider of choice for travellers doing business in this state."
Quest Hotels are continuing their growth, with new properties being targeted in:
WA: West Perth, Mounts Bay Road, East Perth and Fremantle
NSW: St Leonards, Newcastle, Bella Vista and Macquarie Park
SA: Port Adelaide
VIC: Dandenong Central
NZ: Petone
The rate for a one bedroom apartment is around $229 a night. 
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jrobinson-rf4aSBido9

Quest expands NSW presence with Chatswood opening

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A weaker dollar has positioned Australia as a key international travel destination with holidaymakers from China, New Zealand and the US preferring Sydney and Melbourne, according to Savills.
The Hotel Market Report 1H/2015 from Savils noted near full mid week capacity in the key corporate months of the year.
Savilss director of hotels, NSW, Vasso Zographou said Sydney and Melbourne are also the primary recipients of the annual 6.6 million international visitors to Australia receiving 51% and 32% respectively, which represents 5.5 million of the total pie.
Increased cruise ship business, he said, particularly in Sydney, has also contributed to increased pre- embarkation and post disembarkation overnight stays.
"China, which represents 13% of total visitors, recorded 829,000 visitors, representing an increase of 130,000 YoY (up 19%)," he said.
"We note however that the impact of the recent rout on China’s stock market and the devaluation of the Renminbi on China’s middle class and their appetite for long haul travel is yet to be tested, albeit we nonetheless expect continued growth. In particular, growth has been expected in destinations like Australia, where there has been far greater currency devaluation, making it more cost effective for Chinese travellers.
"New Zealand, which represents 18% of total visitors and is Australia’s largest international source market, recorded 1,142,000, representing an increase of 50,000 YoY (up 5%) and the USA, which represents 8%of total visitors recorded 535,000, representing an increase of 47,000 YoY (up 10%) on the back of a stronger green back as the USA economy continues to grow."
<a href="/images/2015/10/28/Screen%20Shot%202015-10-28%20at%202.12.16%20PM.png" target="_blank" style="line-height: 1.3em;">Click to enlarge</a>
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mick.cee-iDmgDDAmu8

Sydney, Melbourne hotel performance leads national pack: Savills

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A $325 million project comprising a five-star hotel and an apartment tower has received approval from Brisbane City Council.
Christened Mary Lane, the project will be developed by Mary 111 Pty Ltd - associated with local businessman Sam Chong.
Set at 111 Mary Street in Brisbane's CBD, the project has been designed by <a href="https://www.woodsbagot.com" target="_blank">Woods Bagot</a>.
“The combination of a five-star hotel, luxury residences and dining precinct is popular in cities such as Singapore, Hong Kong and New York but until now has not been seen in Australia on this scale,” said Ian Pert, development manager of GMP Management.
The approval is for 286 hotel rooms and 167 residences, however, the developer has since lodged an amendment which will retain the current building form but increase the residences to 184. 
Mary Lane will comprise a mix of one-, two- and three- bedroom units as well as some penthouses.
The developer will retain the building’s 400 square metre retail space which will include a café, restaurants and bar.
Construction of the tower is set to begin in early 2016 and an agreement with a international hotel operator is in its final stages.
The residences will be marketed by Colliers International.
Brisbane-based Chong also owns the neighbouring Four Points by Sheraton.
 
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Brisbane council approves $325 million inner city tower and hotel 

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A Melbourne based investor overcame strong competition from rival bidders to pay $2.89 million on a yield of 4.7% for the Prince Alfred Hotel at Port Melbourne on Melbourne’s bayside fringe.
It was at an auction conducted by CRS Property with Teska Carson.
Teska Carson’s Anthony Choi and Michael Ludski, with Lou Montalti and Ian Robertson of CRS, offered the <a href="https://www.realcommercial.com.au/property-hotel+leisure-vic-port+melbourne-501634445" target="_blank">355 Bay Street </a>property.
It attracted more than 80 enquiries and four bidders.
Choi said investors had been attracted to the very popular Bay Street location along with the secure lease to a well-established tenant.
"This is an extraordinarily well located property in the heart of one of Melbourne’s most popular inner-bayside suburbs with a new six year lease to a well-regarded tenant.
"Ultimately the property was purchased by an astute investor cognisant of the solid rental returns and potential for capital gain in such a desirable city fringe location,’’ Choi said.
Located between Spring and Raglan streets on a 300 square metre corner site, the property comprises a, 500 square metre, two level period brick building including a ground floor hotel, bar and dining area, eight bedrooms upstairs, and an outdoor area.
The property was sold subject to a new six year lease with three further six year options to Schultze Hotels Pty Ltd at a current rental of $137,000 per annum.
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Investor takes Port Melbourne hotel with $2.89m bid‏

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Celebrity chef Sean Donovan is looking to create a gastropub venture within the Town Hall Hotel in Fitzroy after current chef Harry Lilai moves on after five years. 
He said he was looking to take the place back to more of a fair dinkum pub.
"I think the pub needs to be a place where you can walk in from the street and get a beer, so I hope to take the Town Hall back closer to its roots,” he said.
The Town Hall Hotel has been extensively refurbished to offer two commercial kitchens, two dining rooms and a converted cellar used for private functions. Harry Lilai is looking to buy a cafe closer to home in Melbourne's west.
Pat Connolly and Will Connolly from Colliers International’s sold the premises on behalf of Lilai.
 
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Chef Sean Donovan moving to Fitzroy's Town Hall Hotel

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A 1960s 204 room hotel in Western Australia  has been listed for sale through CBRE and Burgess Rawson.
The Newman Hotel Motel has been substantially upgraded and currently turns over $1.2 million per month.
The property is being offered for sale by Offers to Purchase closing at 5pm Thursday 3rd September at the offices of CBRE and Burgess Rawson, Perth.
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WA's Newman Hotel Motel listed for sale

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Boutique four star Melbourne hotel Alto Hotel on Bourke has been listed for sale through an International Expression of Interest closing September 24.
The site was formerly the head office of the Victorian Railways Union, constructed in 1914, and the original location of the Railways Hotel, built around 1860.
Hoteliers Ricardo and Suzanne Krauskopf purchased the hotel in 1999 and opened it in 2006 after significant extensions to the now 50 room hotel spanning six floors with a total area of 2,800sqm. 
They sold the premises around three years ago to an investor with an eight-year lease with six options of four years each - a net income in excess of $800,000 p.a.
It is Australia’s only 6 Star NABERS rated hotel and has won a host of other awards.
Joseph Du Rieu from CBRE Hotels said the hotel runs on 100% renewable energy and the market yet to be tested with a hotel that dominates in the environmental stakes.
“The building, which was constructed by members of the union offering free labour and utilising recycled material where possible, is rich in character and history,” Mr Du Rieu said.
The property includes several other sustainability additions such as outlets for recharging electric cars.
 
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