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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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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Patonga Beach Hotel on NSW’s Central Coast has been sold, five months after being listed with $10 million sale hopes.
Listed by the Osborne family, the Patonga Beach Hotel and the adjoining fish shop is set in the gully on the shores of Broken Bay at the mouth of the Hawkesbury River.
No sale price or buyer has yet been revealed.
It is the only hotel in a 12-kilometre radius.
It is opposite the Patonga Beach ferry wharf, popular with day-trippers and visitors from the Central Coast.
<a href="https://rca.joneslanglasalle.com.au/property-hotel+leisure-nsw-patonga-501053471" target="_blank">Jones Lang LaSalle Hotel and Hospitality Group agent John Musca</a> had the 1546 square metre hotel offering, the only hotel in the two bays.
"There's no doubt that by incorporating the adjoining fish shop building and subject to necessary approvals, you could expand the boutique accommodation to become another Raes on Wategos, in Byron Bay," Musca said.
"Many in the industry believe the hotel would be perfect for a celebrity chef hotel style repositioning, similar to that being embarked upon by TV chef George Calombaris in recent acquisition of the Hobsons Bay Hotel in Preston," the marketing suggested.
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jchancellor-FAypfDUnLy

Patonga Beach Hotel sold on NSW Central Coast

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Quest Serviced Apartments is more than doubling its room numbers in Western Australia over the next two years. 
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<div>Three of the properties are located in central <a href="/news">Perth</a> on Adelaide Terrace, Kings Park Road and Mounts Bay Road, in response to increasing demand from a thriving corporate sector.
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<div>The other two properties are located on Flinders Lane in <a href="/news">Rockingham </a>and the corner of Pakenham and Short Streets in <a href="/news">Fremantle</a>. 
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Providing accommodation to around 30,000 business travellers annually, Quest currently operates nine properties in WA at <a href="/news">Bunbury</a>, Harbour Village, <a href="/news">Mandurah</a>, on James, <a href="/news">Rheola</a>, <a href="/news">Scarborough</a>, <a href="/news">South Perth</a>, <a href="/news">West End</a> and <a href="/news">Kalgoorlie</a>.
When doors open on the five new properties, Quest will offer a total of 871 rooms across the state, anticipating hosting more than 60 thousand extended-stay business travellers each year – a 128% increase on the existing number.
All five properties have received development approval with construction commenced on all except Fremantle and Adelaide Terrace, both of which are expected to see works start in the next month.
Quest chief Zed Sanjana said Perth had leading occupancy rates with high room yield growth.
“The demand in the West is being primarily driven by the corporate market and we feel the time is right to capitalise on these strong economic indicators and push our growth, with five new developments underway to more than double our current room numbers.”
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Quest shows confidence in Perth with plans to double room numbers in state

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The 47-room Newport Mirage Hotel on Sydney’s northern beaches has been sold for $10 million to a Chinese buyer.
The deal was struck on a 9% yield through CBRE hotel agents Andrew Jackson and Paul Kapiris.
It was sold by the Bayfield family at the lower end of the estimated $10 million to $12 million reported sale prospect.
The Bayfields also own the Newport Arms Hotel, The Dee Why Hotel and Bayfields Liquor Superstore.
The family has owned the four-star hotel and function centre on the water since 2000.
It was the first hotel purchase for the undisclosed Chinese group.
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Newport Mirage Hotel sold to Chinese buyers

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The BRW Rich-lister Mark Rowsthorn had sold one of Melbourne’s best-known CBD sites, the old Savoy Tavern on the Bourke and Spencer street corner.
It has been bought by the Fragrance Group, a Singapore-listed hotel and ­residential developer controlled by the property tycoon Koh Wee Meng who has been busy acquiring Australian sites.
The 1800-square-metre site was bought for $44.5 million.
It last traded in 2005 at $9.9 million, when bought from the Republic of Nauru who had approval for a 47-storey office tower.
The single-storey 1970s-era brown brick-veneer pub which on opening sold more beer than any other in the state long stood derelict for almost two decades until Mark Rowsthorn re-opened the pub in March this year.
The then Melbourne eyesore was described by the Melbourne Lord Mayor Robert Doyle as “a scab on the knee of the city.”
It is one of the first views of Melbourne that arrivals at Southern Cross station are greeted with. “Subject to obtaining all regulatory approvals, the group intends to redevelop the property into a high-rise mixed-use development,” Fragrance Group told the Australian Financial Review after its off-market sale by Colliers agent Matt Stagg.
Last week Fragrance secured 555 Collins Street from the developer Harry Stamoulis for $78 million.
Photo source: <a href="https://www.facebook.com/TheSavoyTavern" target="_blank">Facebook</a>.
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Mark Rowsthorn sells Savoy Tavern site on Spencer Street, Melbourne

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The Small Maldives Island Company has appointed Luke Mangan as the chef of their new resorts, responsible for food and beverages at Amilla, which opens in November, and Finolhu, due to launch in mid-2015.
There will be eight restaurants across the two islands with Lonu, the main restaurant on Amilla. Lonu is Maldivian for salt.
The new venture adds to his existing glass brasserie at the Hilton Sydney; plus Salt grills and/or bars in Surfers Paradise, Jakarta, Singapore, Bali and Tokyo.
The Maldives group is headed by hotelier, Tom McLoughlin, who created the world’s first underwater spa at Huvafen Fushi and the first underwater nightclub at Niyama. The group has also hired Australian hospitality executive Michael Flynn.
Amilla Fushi is an island resort located in Baa Atoll located in the pristine UNESCO biosphere reserve. 
Trained by renowned chefs Michel and Albert Roux, Luke Mangan opened his first Salt restaurant in Darlinghurst, Sydney, in 1999. glass brasserie, situated in the Hilton Hotel in Sydney, opened in 2005.
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Celebrity chef Luke Mangan takes Salt to Maldives resorts

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The 165 room Vibe Hotel on Sydney’s North Shore at Milsons Point, has been listed for sale with approval for 87 residential apartments and 10 commercial suites over 16 floors.
It has been listed by a syndicate associated with Greg Shand’s Barana Group through CBRE’s Scott Gray-Spencer and JLL agents James Aroney and Robert Sewell.
The address at <a href="https://cbre.realcommercial.com.au/property-land+development-nsw-milsons+point-501162175" target="_blank">88 Alfred Street</a> could attract Chinese developer interest.
The 1545 square metre holding was bought for $3.166 million in 2003.
There is a Bates Smart design available for the buyer with six month vacant possession if required.
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Greg Shand syndicate lists Vibe Hotel, Milsons Point

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Expecting interest from resort chains, owner-operators and syndicates, Western Australia's Coral Bay Ningaloo Reef Resort is on the market.
In a campaign to be conducted by CBRE and Colliers International, the <a href="https://www.ningalooreefresort.com.au/pages/1564/home" target="_blank">34-room, three-star resort</a> comes with two separate manager's residences, a cafe, bar and alfresco dining area. It also includes a swimming pool inside landscaped tropical gardens.
It has been the project of owner-managers Aspen Parks and Resorts since 2007.
It sits on 1.8407 hectares, and there may just be the potential for future developments with the zoning.
Wayne Lawrence, Colliers International director investment services, said that it is a "once in a blue mood" opportunity in a tightly-held market.
“This is a resort sitting on the doorstep of a World Heritage Precinct, and a very major tourism draw – it enjoys very strong occupancy, particularly during the peak periods of April to July, and is a highly-profitable business with diverse revenue streams derived from food, beverage and accommodation,” he said.
While Ryan McGinnity, associate director CBRE, said that Coral Bay is the gateway to Ningaloo Reef, a place where diving with the whale sharks is an offered experience. The area is a World Heritage precinct.
“This is the only true resort property in Coral Bay, and a unique asset that we expect will be the subject of very strong enquiry from a range of buyers,” said McGinnity.
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jduke-EHk3XBmHkn

Want to buy a resort? An opportunity just opened up in WA

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Woolworths is investigating options to sell its property holdings in hotels and co-located retail liquor stores.
But it has not yet made any decision.
Reports suggest it is considering single property sales, portfolio property sales or the creation of separate vehicles to own the assets.
Woolworths will retain control of the properties through a leasehold agreement.
Woolworths was responding to media reports about a possible $600 million divestment of property assets of ALH Group, which is 75% owned by Woolworths.
"While Woolworths continually looks at options, no decision has been taken on the divestment of property assets in hotels and co-located retail liquor stores at this stage," the company advised late last month.
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Woolworths ponders hotel and liquor property sales

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Newly formed company Australian Gaming &amp; Entertainment has collapsed after launching a bid last month to publicly list and buy a $95 million portfolio of Sydney pubs.
AG&amp;E was placed in administration on Monday with Cliff Rocke, John Bumbak and David Winterbottom of KordaMentha appointed as administrators.
It’s a speedy fall from grace for the pub group, which had optioned five pubs from the private Lewis group for $95 million in a bid to become an aggregator in NSW’s fragmented pub industry.
AG&amp;E, which was to be chaired by industry veteran Bill Brown, was planning on an initial public offering.
But Rocke told SmartCompany this morning the IPO didn’t ever get off the ground as the funds could not be raised.
“[AG&amp;E] were going to have a float and get confirmation from the joint lead managers from the float and the proceeds from the float were going to be used to acquire the hotels,” he says.
But despite indications AG&amp;E’s bookbuild was proceeding as planned, “cornerstone” institutional investors did not submit bids as expected and so the group could not exercise its option to purchase.
AG&amp;E described this to Rocke as “devastating news” with “no time to make alternate arrangements”. 
Rocke is still determining who the major creditors are and says at this stage there were no employees.
“The directors have some exposure whether they put in equity or unsecured amounts,” he says.    
The pubs at the centre of AG&amp;E’s plans were the Beverly Hills Hotel, The Canley Hotel, the Croydon Park Hotel in Ashfield, Wentworthville Hotel near Parramatta, along with either the Kogarah Tavern or the Lapstone Hotel.
<a href="https://www.theaustralian.com.au/business/property/new-pub-group-australian-gaming-entertainment-looking-at-listing/story-fnko7zi0-1226887041722">The Australian</a> reported last month investment banks CIMB and Wilson HTM had been drafted in to assist AG&amp;E in raising ­equity, with a roadshow for the Sydney-based company scheduled to kick off after Easter.
The administration follows the collapse last year of pub group <a href="https://www.smartcompany.com.au/growth/economy/31345-receivers-appointed-to-sydney-pub-group-turning-over--23-million-a-year">J&amp;J O'Brien</a> and of pub group <a href="https://www.smartcompany.com.au/growth/economy/22408-20111010-pub-group-in-receivership--blames-onerous-leases-for-collapse">National Leisure &amp; Gaming </a>, which operated 35 pubs in New South Wales and Queensland.
This article first appeared on <a href="https://www.SmartCompany.com.au" target="_blank">SmartCompany</a>.
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Pub group collapses after failed attempt at IPO and $95 million hotel buy-up

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Hotel Saville, in South Yarra, and its Punt Road vacant block used as parking, have hit the market as two separate purchasing opportunities.
The hotel site, 1-5 Commercial Road, South Yarra, has been trading since the early-1970s and is said to be “synonymous” with the South Yarra skyline. It has an octagonal-shaped façade and currently operates as a 3.5 star motel facility.
It has 34 rooms and 360 degree views.
The parking opportunity is at 270 Punt Road. Combined, the sites are expected to fetch circa $7 million.
There is the suggestion that the hotel could be redeveloped into a multi-storey site, and both are zoned Residential 1.
The <a href="https://www.realcommercial.com.au/property-land+development-vic-south+yarra-501125927" target="_blank">1- </a><a href="https://www.realcommercial.com.au/property-land+development-vic-south+yarra-501125927" target="_blank">5 Commercial Road</a> site is 940 square metres, while 270 Punt Road is 450 square metres.
 Colliers International selling agent Ben Baines said that it has a significant upside potential.
“We expect the properties to attract interest from residential developers as well as hotel/motel developers,” said Baines.
“There is also the flexibility for a purchaser to acquire the two sites and keep running them as a Hotel in the short to medium term while they obtain planning permits,” he said.
It has multiple street frontages, and is offered as a freehold and going concern.
Meanwhile, Ted Dwyer who is co-appointed to sell the offering, said that the apartment market in South Yarra is booming, which may be another attraction.
“The properties have great access to popular attractions and amenities such as the Prahran Market, Chapel Street, Fawkner Park, the Botanical Gardens and Albert Park Lake,” he said. “St Kilda Road, the Monash Freeway and public transport are all nearby, while The Alfred Hospital is just down the road,” he said.
Currently, standard Queen beds are from $105 per night with a minimum seven night stay, according to online booking details. It is also called the “affordable alternative” for accommodation in the area.
Expressions of interest for the site close on 12 June at 3pm.
Currently, an<a href="https://www.longreachaustralia.com.au/sentry/monument-pinnacle/Monument-Investment-Report.pdf" target="_blank"> investment report from Longreach Property</a> is available about the site, which suggested that an 84-apartment, 82-carpark development was the plan for the site, with a potential for 320 square metres of retail on the ground floor, with an entrance from Affleck Street. The DA was put before the City of Stonnington in 2010.
The development would have been known as <a href="https://www.longreachaustralia.com.au/sentry/monument-pinnacle/Monument-Investment-Report.pdf" target="_blank">Monument South Yarra</a>, designed with Bruce Henderson Architects. Other information from <a href="https://www.pinnacle-props.com/downloads/investorbrief/Monument%20-%20Investor%20Brochure.pdf" target="_blank">Pinnacle Property Investments</a> suggests that it may have been a plan for 90 apartments over 10 levels. Vogue on Chapel Street is identified as the closest example, bringing pricing of Monument to $503,500 for a level four two-bedroom apartment with parking and $453,750 for a one-bedroom level four apartment. This was several years ago.
The City of Stonnington received the application in late-2010 according to their date stamp on <a href="https://www.google.com.au/url?sa=t&amp;rct=j&amp;q=&amp;esrc=s&amp;source=web&amp;cd=7&amp;ved=0CFMQFjAG&amp;url=http%3A%2F%2Fwww.stonnington.vic.gov.au%2FDownloadDocument.ashx%3FDocumentID%3D4716&amp;ei=7FKFU9LDC8vNlAWxoID4Bg&amp;usg=AFQjCNHJ4SDmG5LOzcAvazYUwlAKaNlFLA&amp;sig2=hbtylruplw3YLXkX3ihP_Q&amp;bvm=bv.67720277,d.dGI" target="_blank">Urbis’ Planning and Urban Context Report (note: link is a PDF download of the report)</a>.  
Clearly, this never went ahead, leaving an opportunity for the next purchaser.
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