Repeat buyers are one of the strongest measures of confidence in any apartment development.

At <a href="https://www.apartments.com.au/new-apartments/era-newcastle-west-124-126-bull-street-newcastle-west-nsw-2302">ERA</a> in Newcastle West, some purchasers are returning to <a href="https://www.apartments.com.au/developers/gwh">GWH</a> after living at the developer's One Apartments. Their decision to purchase again was driven by the quality of life they found after moving into their first GWH home.

Keith Wilton had spent years living in a house in East Maitland before deciding it was time for a change. Apartment living had always been on his radar, but he was selective about what he wanted.

<iframe allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" allowfullscreen="" frameborder="0" height="315" referrerpolicy="strict-origin-when-cross-origin" src="https://www.youtube.com/embed/FH_1EzB-1vs?si=XScVlP1ERsTDJoME" title="YouTube video player" width="560"></iframe>

"I had some boxes I wanted to tick," he says.

Keith points to the open-plan design, generous outdoor areas and considered inclusions as key reasons One Apartments worked for him.

“One of those things was a nice indoor open plan area, but also I wanted a nice outdoor open area that I could entertain on in summer or Christmases or birthdays,” he says.

He also found value in the smaller details, from integrated appliances to shared resident spaces including the pool, cinema and rooftop areas.

[smartcode_project:default project_id=135096 project_image_fid=356818]

After comparing several developments, he chose One Apartments because of GWH's longstanding local reputation and his own experience working with the developer on a commercial project more than a decade earlier.

"I knew that they were local, that the quality of the build was going to be up there. I'd looked at other apartment complexes around and close by, and I just knew that here was a better decision location wise."

Today, Keith says the move has completely changed how he experiences Newcastle.

"I enjoy living in this location because it's more of a lifestyle change. That Newcastle city living where you can walk to restaurants and bars and even beaches and parks and even shopping across the road."

[smartcode_project:default project_id=135096 project_image_fid=356828]

Beyond the location, he says it's the sense of community that has surprised him most.

"Everyone loves living here because they chose to live here, but everyone looks out for each other. It's a real great community feel here."

For Aimee and Lyle Goodman, the journey started almost by chance.

<iframe allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" allowfullscreen="" frameborder="0" height="315" referrerpolicy="strict-origin-when-cross-origin" src="https://www.youtube.com/embed/tsioMLcnjas?si=zq-ys3JuWpfa5hFv" title="YouTube video player" width="560"></iframe>

The couple happened to be having coffee in Newcastle when they noticed the site where One Apartments was about to begin construction.

"We were aware GWH was planning a development," Aimee says. "We made one phone call and things moved pretty quickly after that."

As busy business owners, they initially thought apartment living would simply reduce the maintenance that came with larger homes. Instead, it fundamentally changed how they spent time together.

"We actually catch up more as a family now," Aimee says.

"We've had homes with big yards and lots of space, but everyone ended up in different rooms. Here we'll have dinner together, the kids can play, and we spend far more quality time together."

[smartcode_project:default project_id=135096 project_image_fid=356829]

Lyle says their confidence came from GWH's reputation within Newcastle's building industry.

"I know people who've worked across different apartment projects, and whenever GWH came up the feedback was always the same. They're rock solid. They're quality."

That confidence only grew throughout the buying process.

"One of the things that really impressed us with GWH was the whole process, was the communication," Lyle says. "It was consistent, it was regular, there was no problem if we had some weird questions, there was no problems in getting answers."

[smartcode_project:default project_id=135096 project_image_fid=351104]

Aimee says one moment stood out.

"The project actually finished on time. We realised we needed to hurry up and sell our house because everything was happening exactly when they said it would."

The positive experience at One Apartments ultimately gave all three buyers the confidence to purchase again with GWH, this time at ERA.

Their confidence reflects what many buyers are seeking in today's apartment market. Location remains important, but so too does certainty around delivery, quality and long-term liveability.

[smartcode_project:default project_id=135096 project_image_fid=356822]

ERA builds on those foundations with 280 one, two and three-bedroom apartments across two landmark towers in <a href="https://www.apartments.com.au/developments/newcastle-west-nsw-2302">Newcastle West</a>.&nbsp;

Designed by <a href="https://www.apartments.com.au/architects/fk-australia">Fender Katsalidis</a>, the project will include more than 2,000 square metres of resident amenities, including a resort-style pool, gym, sauna, private cinema and rooftop entertaining spaces overlooking the harbour and coastline.&nbsp;

The development is also within walking distance of the Newcastle Interchange, Honeysuckle, Darby Street, the harbour foreshore, restaurants, retail and the city’s beaches, continuing the walkable lifestyle that existing GWH buyers say has transformed how they live.

[smartcode_project:default project_id=135096 project_image_fid=356826]

For Keith, the appeal remains straightforward.

"You feel at home even before you've moved into your home."

For Aimee, the change is measured in time.

“I just felt like I had more time,” she says.

[smartcode_project:default project_id=135096 project_image_fid=351102]

Construction at ERA is now underway, with more than half of the residences already sold and limited two and three-bedroom apartments remaining in the East Tower release. Priced from $980,000 for two-bedroom residences and $1.46 million for three-bedroom residences, buyers can secure an apartment with a 10 per cent deposit, with premium homes offering ocean views from Level 8 and harbour views from Level 10.

ERA is also backed by Resilience Insurance's 10-year Latent Defects Insurance policy, providing protection against structural or waterproofing defects for 10 years after completion. The project is anticipated to be completed in early 2028.

[smartcode_project_cta:default project_id=135096]

Joel Robinson

From ONE to ERA: Why buyers are choosing GWH again in Newcastle West

Virgate Property Group is preparing to commence construction of Verdé, its new apartment development in Melbourne's Arts Precinct at Southbank, following a strong run of sales that has seen more than half of the project's 173 apartments secured.

Verdé has attracted a broad mix of first home buyers, owner-occupiers upgrading from nearby inner-city suburbs and investors, with younger owner-occupier couples aged between 28 and 45 accounting for the strongest enquiry. Many are already living in Southbank, South Melbourne, Albert Park, Port Melbourne, South Yarra and the CBD.

"Verdé is located in one of the most desirable pockets of southern Melbourne," Blair Property Group Director Darren Blair, who is managing sales at Verdé, said.

"It's within walking distance of the Arts Centre, Royal Botanic Gardens, Albert Park Lake, and Southbank's restaurants and retail. It's a great lifestyle location with strong amenity and liveability, which made it a very attractive choice for the project."

[smartcode_project:default project_id=4661 project_image_fid=372549]

Virgate was already familiar with the precinct, having previously delivered the successful Domain House development in neighbouring South Melbourne. That experience gave the developer confidence to acquire the Coventry Street site and continue expanding its presence in Melbourne's inner south.

"We had been keeping an eye on the site and the broader precinct for a few months before deciding to move forward with the acquisition," Virgate said.

The project was ultimately secured in 2020 following feasibility studies, planning assessments and due diligence, with the brief centred on delivering "a high-quality, considered design that feels both refined and fit for purpose."

[smartcode_project:default project_id=4661 project_image_fid=314259]

Designed by <a href="https://www.apartments.com.au/architects/bruce-henderson-architects">Bruce Henderson Architects</a>, Verdé comprises 173 one, two and three-bedroom apartments priced from $599,000. The architecture is distinguished by a faceted glass façade that responds to both the site's outlook and Melbourne's changing light conditions.

According to Bruce Henderson Architects, the coloured glazing gives the building a distinctive identity while also providing privacy and solar shading, with residences oriented to capture views across the bay, city skyline and surrounding parklands.

Inside, <a href="https://www.apartments.com.au/interior-designers/designoffice">DesignOffice</a> has created interiors focused on natural light, efficient planning and enduring materials. Apartments feature engineered oak flooring, natural stone benchtops, floor-to-ceiling glazing and SMEG appliances, while a restrained material palette aims to complement the expansive outlooks rather than compete with them.

[smartcode_project:default project_id=4661 project_image_fid=372550]

Resident amenity has also been designed around everyday functionality rather than occasional use. Facilities include a concierge-serviced lobby, residents' lounge with fireplace, library and co-working space, gym, terrace garden with barbecue facilities, ground-floor café, and package delivery management.

The project's location continues to be one of its strongest drawcards. Positioned on Coventry Street, Verdé sits within walking distance of the National Gallery of Victoria, Arts Centre Melbourne, Royal Botanic Gardens and Albert Park Lake, while Southbank's dining precinct, Sturt Street trams and the new ANZAC Station are all nearby. The surrounding education catchment also includes Melbourne Grammar, Melbourne Girls Grammar, Mac.Robertson Girls' High School and several major university campuses.

The sales team says buyers have responded particularly well to the combination of location, design quality and long-term liveability.

"They're responding really positively to the quality of the design, premium resident amenities and the uninterrupted views. Many also appreciate the location and how connected it is to everything they need."

The ability to secure stamp duty savings before completion has also been a key factor for purchasers, alongside the opportunity to personalise finishes ahead of settlement.

With construction set to commence soon and more than half the apartments already sold, Verdé enters its next phase as one of the Arts Precinct's more established apartment developments, offering remaining buyers an opportunity to secure a residence before construction advances further. Expected completion is scheduled for late 2027.

[smartcode_project_cta:default project_id=4661]

Virgate's Verdé Southbank moves toward construction as sales fly past halfway stage

Downsizer-focused apartment development Kooyongkoot in Hawthorn has been recognised at the 2026 Better Future Melbourne Design Awards, taking home Gold and Silver awards in two categories.

<a href="https://www.apartments.com.au/new-apartments/kooyongkoot-hawthorn-1-kooyongkoot-road-hawthorn-vic-3122">Kooyongkoot</a>, currently being delivered by developer PQD and designed by Cera Stribley, received Gold in the Interior Design – Proposed category and Silver in the Architecture – Proposed category.

The dual recognition reflects the design approach behind the boutique development on prestigious Kooyongkoot Road, where the focus has been on creating homes for downsizers seeking the space, quality and functionality of a detached house within a low-rise apartment building.

Rather than maximising apartment numbers, <a href="https://www.apartments.com.au/developers/pqd">PQD</a> and <a href="https://www.apartments.com.au/architects/cera-stribley-architects">Cera Stribley</a> limited the development to just 18 residences, allowing for larger floorplans, greater privacy, generous landscaping and expansive communal spaces.&nbsp;The majority of the apartments also benefit from corner aspects, allowing for dual sources of natural light.

Now around 70 per cent complete and on track for completion in November 2026, Kooyongkoot will comprise a mix of garden residences, ter​race apartments, sub-penthouses, and is crowned by two half-floor penthouses with direct lift access and private rooftop terraces.

[smartcode_project:default project_id=102717 project_image_fid=355297]

The Silver Award for Architecture recognised the way the building responds to its prominent corner position at the ent​rance to Hawthorn's Scotch Hill precinct, one of Melbourne's most established residential neighbourhoods.

Rather than competing with the grand homes that line Kooyongkoot Road, the architectural approach focused on restraint and longevity, using curved brickwork, generous landscaping and carefully considered proportions to integrate with the existing streetscape.

"The form feels fluid and timeless, as though shaped by the landscape itself – architecture that belongs, rather than competes," said Chris Stribley, Co-Founder and Managing Principal of Cera Stribley.

The judging submission also highlighted practical innovations throughout the building, including lift cores servicing only nine homes each, a central landscaped lightcourt designed to bring daylight and ventilation into the building, and fully enclosed private storage rooms with lighting, power and shelving to better accommodate residents transitioning from larger family homes.

[smartcode_project:default project_id=102717 project_image_fid=355293]

The Gold Award for Interior Design recognised the project's focus on long-term liveability rather than display-home aesthetics.

According to the awards submission, the interiors were designed from the inside out, prioritising how homes would function over decades of daily use through generous proportions, practical storage, durable natural materials and flexible layouts.

The specification includes natural stone throughout, upgraded acoustic glazing, V-ZUG appliances and fully enclosed storage rooms, alongside an amenity offering focused on wellness, entertainment and everyday convenience.&nbsp;

Residents will have access to a gym and yoga studio, a wellness centre featuring traditional and infrared saunas, a cold therapy shower and treatment room, as well as a residents' lounge and golf simulator/cinema room for entertainment.&nbsp;Kooyongkoot has also considered the everyday convenience of its residents by offering a private carwash and pet wash facilities on site as well as dedicated parcel lockers and oversized fully enclosed storage rooms.&nbsp;

[smartcode_project:default project_id=102717 project_image_fid=355303]

The project's attention to detail has already resonated with buyers. Earlier this year, Kooyongkoot recorded one of Boroondara's highest apartment sales when an $8 million penthouse was purchased by a Melbourne CEO downsizing from a nearby family home.

"Every detail feels deliberate, from the overall design down to the smallest touches," the purchaser said.

"The level of quality and refinement is exceptional, but what really sold it was how liveable it felt... It felt like a place where everything had been considered, not just a luxury building."

[smartcode_project:default project_id=102717 project_image_fid=355304]

Sustainability also formed a key part of both award submissions. Kooyongkoot is targeting a minimum 7.5-star NatHERS rating across all residences, supported by passive design principles, high-performance glazing, EV charging infrastructure, water reuse systems and a wellness model focused on lower-energy dry facilities rather than pools and large wet areas.

Located within walking distance of Scotch College, Methodist Ladies' College, Koo​yong Lawn Tennis Club, Aubur​n Village and Camberwell Junction, Kooyongkoot continues to target owner-occupiers looking to remain in Melbourne's inner east without compromising on space or quality. A limited selection of two, three and four-bedroom residences remains available, with prices starting from $1.9 million.

[smartcode_project_cta:default project_id=102717]

Kooyongkoot wins Gold and Silver at Better Future Melbourne Design Awards

New apartment supply has become increasingly constrained across <a href="https://www.apartments.com.au/developments/parramatta-nsw-2150">Parramatta</a> in recent years, with fewer projects progressing through to completion as development conditions have become more challenging.

It makes <a href="https://www.apartments.com.au/developers/novm">NOVM</a>'s 2021-completed <a href="https://www.apartments.com.au/buildings/the-lennox-parramatta-12-phillip-street-parramatta-nsw-2150">The Lennox</a> one of the most recently completed residential towers on the Parramatta River, and among the newest apartment developments in Sydney's second CBD.

With the project largely completed before the sharp escalation in construction costs and inflation following the pandemic, The Lennox is now offering pricing that would be difficult to replicate in a comparable new development in Parramatta today, or across much of Western Sydney.

The majority of the 413 apartments at The Lennox sold before and shortly after completion. A limited release of the remaining apartments has recently been brought to market by capital partner <a href="https://www.apartments.com.au/project-marketer/equitifund-group">Equitifund</a>, with entry-level pricing from $700,000 and two-bedroom apartments available from under $1 million.

Rising above the Parramatta River at 12 Phillip Street, The Lennox comprises one, two, three and four-bedroom apartments, appealing to first home buyers, young professionals, families, downsizers and interstate investors seeking a completed apartment in one of Australia's fastest-growing economic centres.

[smartcode_project:default project_id=5743 project_image_fid=372394]

Rather than positioning Parramatta as an alternative to Sydney's CBD, Equitifund believes the city has reached a point where it stands on its own merits.

"Parramatta is no longer simply an alternative to Sydney CBD, it's becoming a destination in its own right," Equitifund Executive Chairman Greg Huxley said.

"The Lennox captures that evolution with a level of quality and amenity that's difficult to match at its price point."

[smartcode_project:default project_id=5743 project_image_fid=953]

Designed by <a href="https://www.apartments.com.au/architects/marchese-partners">Marchese Partners</a>, the tower responds directly to its riverfront setting through expansive glazing and open-plan layouts that maximise views across the Parramatta River and city skyline. Interiors feature engineered timber flooring, stone benchtops, stainless steel appliances and floor-to-ceiling glazing, while generous balconies extend the living spaces outdoors.

Marchese Partners says the project was conceived to balance high-quality apartment living with practical, long-term functionality, pairing larger, efficient floorplans with amenities more commonly associated with five-star hotels.

That emphasis continues through the resident facilities, which include a 20-metre rooftop swimming pool, fully equipped gym and wellness spaces, full-time concierge, a residents' lounge, function room, private lifts, secure basement parking and rooftop communal areas overlooking the Parramatta River. Ground-floor boardwalk retail and dining further activate the riverfront and integrate the building into the surrounding public realm.

[smartcode_project:default project_id=5743 project_image_fid=925]

Australian housing and finance group Equitifund has secured the remaining apartments, believing there are few completed apartment opportunities in Parramatta that offer the same combination of location, amenity and pricing.

Equitifund National Sales Director Ben Hamblett says buyers are increasingly recognising that premium apartment living no longer needs to come with Sydney CBD pricing.

"The Lennox is where aspirational living becomes attainable," Hamblett said.

"Wake to river and mountain views, step into Sydney's Second CBD, and arrive home to resort-calibre amenities, all without the harbour price tag."

Hamblett says owner-occupiers are also attracted by the convenience of having Westfield Parramatta, Church Street's dining precinct, Parramatta Park, Riverside Theatres, Western Sydney University and major transport connections all within walking distance.

"At The Lennox, lifestyle is not an afterthought, it is the foundation."

[smartcode_project:default project_id=5743 project_image_fid=5374]

The Lennox places residents within walking distance of Parramatta Square, Westfield Parramatta, Church Street Eat Street, Parramatta Station, the ferry wharf, Light Rail, the future Sydney Metro West, Parramatta Park and CommBank Stadium, reinforcing Parramatta's position as one of Australia's most connected metropolitan centres outside Sydney's CBD.

Equitifund says buyers visiting the display suite consistently comment on the quality of the finishes, generous floorplans, river and skyline views, and the walkability of the location. The project has attracted a broad mix of local professionals, upsizers, downsizers, buyers relocating from Sydney's inner suburbs and interstate investors seeking long-term growth opportunities.

That demand aligns with Parramatta's continued evolution as an economic powerhouse. Equitifund Research and Market Insights specialist John Bekiaris says sustained population growth, infrastructure investment and expanding employment opportunities continue to support long-term housing demand across the city.

"Parramatta has evolved from a satellite city into one of Australia's most important economic centres. Population growth, infrastructure investment and employment are all supporting sustained long-term housing demand."

[smartcode_project_cta:default project_id=5743]

The apartment price gap drawing Sydney buyers west

A luxury beachfront apartment at Rainbow Bay has more than doubled in value since it sold off the plan six years ago, setting a new local apartment record in the process.

The three-bedroom apartment in the Flow development on Petrie Street, the first of four new projects locally by Paul Gedoun's S&amp;S Projects, has sold for $7.4 million, after originally selling for $3.27 million when the project launched in 2020.

The seventh-floor apartment, comprising 187 sqm of internal living space and a 54 sqm balcony overlooking Froggies Beach and Snapper Rocks, was purchased by a local family.

The transaction was negotiated by Pezet Matheson director Kerry Pezet and equates to more than $30,000 per sqm.

Pezet said the sale reflected the limited opportunities to buy into the boutique beachfront development.

"The sale highlights the rarity of opportunities within the boutique beachfront development, where residences seldom become available," Pezet said.

"Flow is one of the Gold Coast's most tightly held buildings. Buyers from our database move quickly when residences become available, and achieving an off-market sale at $7.4 million demonstrates the depth of demand for property of this calibre."

<img alt="Flow" data-entity-type="file" data-entity-uuid="c585b206-2130-4eee-a50c-3f27c51a7c70" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-07-06%20at%208.33.25%E2%80%AFPM.png?VersionId=m3pHRDV62Y3fvN.XQuQHq.52ilTWpRLf" />

Flow was the first of four luxury apartment developments delivered by Paul Gedoun's S&amp;S Projects at Rainbow Bay and was completed in 2023.

Positioned on the beachfront overlooking Snapper Rocks, the residence includes three bedrooms, three bathrooms, a powder room and views stretching north along the coastline towards Surfers Paradise.

Pezet Matheson Residential principal Mitchell Lambert said buyers continued to prioritise quality beachfront apartments in tightly held locations.

"Flow Residences offers a rare combination of elevated beachfront positioning, architectural excellence, comprehensive resident amenity and premium finishes, which is exactly what discerning purchasers are seeking," Lambert said.

"The transaction further reinforces Rainbow Bay's reputation as one of Australia's premier coastal lifestyle destinations, where limited supply and growing demand continue to support strong market performance."

Pezet Matheson originally marketed and sold out Flow off the plan, making the latest transaction a return to one of the project's original buyers.

Paul Gedoun is selling his third project, <a href="https://www.apartments.com.au/new-apartments/radia-rainbow-bay-271-boundary-street-coolangatta-qld-4225">Radia Rainbow Bay</a>, after recently completing, and selling out, <a href="https://www.apartments.com.au/buildings/esprit-217-227-boundary-street-coolangatta-qld-4225">Esprit</a>. He has plans for a <a href="https://www.apartments.com.au/news/qld/first-look-s-s-projects-proposes-88-apartment-wellness-tower-at-coolangattas-boundary-street">fourth building</a>, 88 apartments on <a href="https://www.apartments.com.au/new-apartments/209-213-boundary-street-coolangatta-qld-4225">Boundary Street</a>.

Rainbow Bay apartment doubles in price since off the plan sale during pandemic

Melbourne CBD

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Small business confidence and creative thinking by CBD landlords have driven a 235% increase in demand for small office space in Melbourne, says Colliers International.
The firm reported a year-on-year increase in demand for sub-300 square metre office suites in the Melbourne CBD.
“This accelerated demand highlights the strength in sentiment among small business owners,” Colliers International’s Milly Stockdale said.
“We received 748 enquiries for small suites over the past financial year FY 2017/2018, compared to 318 enquiries from FY 2016/2017. This equates to 2.3 times the demand, year on year.
“This demand has also flowed through to leasing activity, with Colliers International concluding over 100 deals for space under 300 square metres in Melbourne’s CBD year to date, compared to less than 70 at the same time last year.
“Over the next 12 months, there is only 115,000 square metres of new supply space and over 81,000 square metres of backfill space due to be added to the Melbourne CBD market. This means vacancy rates will continue to tighten, providing competitive tenant conditions.”
The lack of upcoming supply is causing tenants to commit to space to ensure that they don’t miss out on a quality address, it says.  
Strong population and job growth in Melbourne is supporting rental growth and a healthy environment for small businesses to expand.
In the recent deal, a2m Consulting secured its first CBD office, leasing 132 square metres at Suleman Group’s 470 Collins Street in a deal negotiated by Stockdale and colleague Brigitte Doupe. 
“Many iconic CBD buildings are choosing to execute a small suite strategy on vacant whole floors, due to the uptake in the market and effective net rental growth and minimal downtime,” Doupe said.
“Recent activity at 470 Collins Street – where we have negotiated 10 sub-400 square metres leasing deals in the last eight months – is a prime example of this.”
“This trend has also been recently demonstrated at 360 Collins Street, where Colliers International has secured 23 tenants under 400 square metres in the last 18 months for Dexus Property,” Colliers International’s Adam Davy said.
“This growth in demand can be attributed to several factors, including the strength in sentiment among small businesses, and the Melbourne economy supporting small business growth.”
Doupe said small businesses were jumping at the chance to secure CBD space which would see them benefit from easy access, quality of amenity and proximity to clients and stakeholders.
 <img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2018/9/28/151013_470_Collins_st_071.jpg" alt="">
Additional leases at 470 Collins Street have included:
-          Cherub Consulting (45.4 square metres)
-          Javadi (52.3 square metres)
-          Efex Group (40 square metres)
-          Endeavour Conultants (63.4 square metres)
-          Australian Institue of Engineering &amp; Technology (139.1 square metres)
-          Jaythorm (147.80 square metres)
-          United Almonds (100.4 square metres)
-          Austudy (209 square metres)
-          Egali (85 square metres)
-          Unify Solutions (96.4 square metres)
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j.ballantyne1990-6AQqhLzZaK

Demand for small office space in Melbourne CBD skyrockets 

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The Future Melbourne Committee has unanimously endorsed plans for the first new urban park in the Hoddle Grid since City Square was developed in 1980.
The Market Street public park is adjacent to Cbus Property and ISPT’s <a href="/expert-insights/investing/collins-arch-melbourne-signs-up-third-law-firm-office-tenants">Collins Arch development at 447 Collins Street</a> in the CBD’s western grid.
The new park will introduce 1,900 square metres of open space.
Collins Arch is set for completion late next year.
The Market Street park in 2020.
The City of Melbourne will decide on a name for the park at a future date.
Cbus Property is developing the park which will then be handed back to City of Melbourne for public use and management.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2018/9/19/Hoddle%202.jpg" alt="">
The new park will be connected to a further 1,750 square metres of publicly accessible and occupiable space within the Collins Arch development via a large amphitheater.
The total open space added to the block will be nearly 30 percent larger than the previous forecourt of <a href="/expert-insights/buying/cbus-secures-approval-for-its-447-collins-street-project">the National Mutual building</a> which was demolished despite its architectural merit.
It was among a handful of CBD buildings rejected by the state government for heritage protection as some regarded the 27-level building as a prime example of post-war International style. 
It is being designed by landscape architects Oculus, incorporating a collection of spaces, including a City Garden, Central Plaza, a Terrace and Northern Lawns.
Each space will create clear pedestrian connections via north-south links to public transport, the Northbank, as well as the broader precinct, including the Immigration Museum.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2018/9/19/Hoddle%203.jpg" alt="">
The creation of the park will see the western side of Market Street repurposed into public space, while the eastern side will be transformed to include a new bike lane.
The remainder of Market Street will become a single lane carriageway for southbound traffic and kerbside parking.
The $1 billion plus mixed-use Collins Arch development will include 49,000 square metres of premium-grade office space, 940 square metres of ground floor retail and a <a href="/expert-insights/investing/collins-arch-to-feature-melbourne-s-first-w-hotel">five-star W Hotel</a>, as well as 184 luxury apartments.
Pictured below is the now demolished National Mutual Building
<img src="https://www.urban.com.au/images/2018/9/19/Arches.JPG" alt="">
(source: Victoria State Library)
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Collins Arch garden plans revealed for Market Street

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The Reserve Bank of Australia has sold its Collins Street, Melbourne HQ for a reported $160 million.
The Australian Financial Review have suggested the buyer its Dexus, the country's largest listed landlord.
In April the RBA quietly called for tenders to sell the 15 storey tower in which the Bank occupied only 10 percent of. They had the 300 sqm space on the top floor of 60 Collins Street.
The other 12,000 sqm of lettable space was fully tenanted.
The building contains a high security strongroom vault used for storing gold bullion and exchanging bank notes which has now been transferred to a newly built facility the bank’s note printing works in Craigieburn on the Hume Freeway on Melbourne’s outskirts.
The RBA were reported to have expected to find a buyer in the region of $100 million, but saw Dexus an opportunity to also secure the 11 storey office tower next door for around $70 million.
The adjacent building at 52 Collins is owned by Marks Henderson Funds Management. 
Dexus proposes to consolidate the two sites at 52 and 60 Collins Street across circa 2,000 square metres and in the medium term activate a prime grade office development to create a total of circa 35,000 square metres of space, subject to planning approval.
Darren Steinberg, Dexus CEO said the acquisitions provide it with a presence in the tightly held ‘Paris end’ of Collins Street in the Melbourne CBD.
"They also present us with a unique opportunity to undertake an office development creating long term value for investors in the next supply cycle, in a prime location where we receive significant enquiry from our customer base.”
60 Collins Street is a 13,817 square metre B-grade office building, located on a 1,357 square metre site on the prime corner of Collins and Exhibition Streets in the Eastern Core of the Melbourne CBD.
The office space is 100% occupied with a weighted average lease expiry on settlement of 2.6 years.
Settlement is expected to occur by end of October 2018.
52 Collins Street is a 3,454 square metre B-grade office building, located on a 587 square metre site adjoining 60 Collins Street.
The property is 100% occupied with an expected weighted average lease expiry on settlement of 3.5 years.
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jonathanchancellor-7SQnKwU6yx

RBA sells Melbourne HQ for $160 million

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Having already covered Spencer Street and Chapel Street, Apartments.com.au today focuses on the construction occurring along what is arguably Melbourne CBD's premier street - Collins Street - and its future development pipeline.

Stretching approximately 3km from Spring Street to Docklands, Collins Street currently has nine projects either approved or under construction, with the greatest concentration located towards the western end of the CBD at the threshold between the Hoddle Grid and Docklands.

These projects are illustrated in the diagram below, with each covered in more detail below.

<figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public//pictures/article-images/collins_street_progress.png" rel="gallery-all" title="Highlighting development along Melbourne's Collins Street. "><img alt="" class="image-article-full-width-580px" height="252" src="/sites/urban.melbourne/files//styles/article_full_width_580px/public/pictures/article-images/collins_street_progress.png?itok=HN-NORoe" title="Highlighting development along Melbourne's Collins Street. " width="580"></a>

<figcaption>Highlighting development along Melbourne's Collins Street.</figcaption></figure><h2><a href="/developments/docklands-vic-3008">839 Collins Street</a></h2>

<figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public//pictures/article-images/839-3.jpg" rel="gallery-all" title="839 Collins Street. Render: Lendlease "><img alt="" class="image-article-full-width-580px" height="337" src="/sites/urban.melbourne/files//styles/article_full_width_580px/public/pictures/article-images/839-3.jpg?itok=lgxebI_v" title="839 Collins Street. Render: Lendlease " width="580"></a>

<figcaption>839 Collins Street. Render: Lendlease</figcaption></figure>The new 21-storey building for ANZ has topped out for some time with facade installation progressing externally and interior fit-out works having commenced. 

Designed by Denton Corker Marshall, 839 Collins Street represents the final commercial building to be constructed within Lendlease's Victoria Harbour development. 

The developer's focus now shifts to the Collins Wharf sub-precinct, extending along the length of the peninsula towards the Bolte Bridge.

<h2><a href="/developments/docklands-vic-3008">Two Melbourne Quarter - 697 Collins Street</a></h2>

<figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public//pictures/article-images/2mq_sep18.jpg" rel="gallery-all" title="Two Melbourne Quarter. Render: Lendlease"><img alt="" class="image-article-full-width-580px" height="357" src="/sites/urban.melbourne/files//styles/article_full_width_580px/public/pictures/article-images/2mq_sep18.jpg?itok=5RV0pKzc" title="Two Melbourne Quarter. Render: Lendlease" width="580"></a>

<figcaption>Two Melbourne Quarter. Render: Lendlease</figcaption></figure>With the finishing touches being applied to One Melbourne Quarter, Lendlease has now turned its focus towards Two Melbourne Quarter. Construction has commenced on the next 25-storey office tower designed by Woods Bagot.

Energy Australia will occupy 12-storeys within the tower, accounting for 22,000 sqm of the 50,000 sqm NLA office space. Completion is expected during 2020.

<h2>Melbourne Quarter Tower - 681 Collins Street</h2>

<figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public//pictures/article-images/melbourne_quarter_tower_question_mark.jpg" rel="gallery-all" title="Melbourne Quarter Tower is due for a redesign. "><img alt="" class="image-article-full-width-580px" height="386" src="/sites/urban.melbourne/files//styles/article_full_width_580px/public/pictures/article-images/melbourne_quarter_tower_question_mark.jpg?itok=C2oI2Lh-" title="Melbourne Quarter Tower is due for a redesign. " width="580"></a>

<figcaption>Melbourne Quarter Tower is due for a redesign.</figcaption></figure>Following planning approval, speculation is rife that Melbourne Quarter Tower is currently undergoing redesign, with a new architect inheriting design responsibilities for Melbourne Quarter's tallest office building.

The current permit allows for the construction of a 28-storey office tower of 55,000 sqm NLA.

<h2><a href="/buildings/582-606-collins-street-melbourne">The Residences at Mandarin Oriental Melbourne - 600 Collins Street</a></h2>

<figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public//pictures/article-images/zha_mandarin_oriental.jpg" rel="gallery-all" title="Landream's 54-storey tower will include a 194-key hotel, operated by Mandarin Oriental. Images: Zaha Hadid Architects"><img alt="" class="image-article-full-width-580px" height="252" src="/sites/urban.melbourne/files//styles/article_full_width_580px/public/pictures/article-images/zha_mandarin_oriental.jpg?itok=zMEOKUkW" title="Landream's 54-storey tower will include a 194-key hotel, operated by Mandarin Oriental. Images: Zaha Hadid Architects" width="580"></a>

<figcaption>Landream's 54-storey tower will include a 194-key hotel, operated by Mandarin Oriental. Images: Zaha Hadid Architects</figcaption></figure>Owners Landream last year announced that they had signed on Mandarin Oriental to operate the hotel component of their $852 mullion development designed by Zaha Hadid Architects in partnership with Plus Architecture.

Mandarin Oriental will occupy levels 6 to 24 which exuates to 196 guest suites. Though no firm start date has been confirmed although a tentative completion date of 2023 has been previously floated.

Landream secured the site for $60m in 2015 from the Henkell Brothers.

<h2><a href="/developments/melbourne-vic-3000">555 Collins Street</a></h2>

<figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public//pictures/article-images/555-collins-street_article.jpg" rel="gallery-all" title="Fragrance Group's 555 Collins Street is set for a start with demolition not far off. Images: Bates Smart"><img alt="" class="image-article-full-width-580px" height="272" src="/sites/urban.melbourne/files//styles/article_full_width_580px/public/pictures/article-images/555-collins-street_article.jpg?itok=8d3z4gLi" title="Fragrance Group's 555 Collins Street is set for a start with demolition not far off. Images: Bates Smart" width="580"></a>

<figcaption>Fragrance Group's 555 Collins Street is set for a start with demolition not far off. Images: Bates Smart</figcaption></figure>The current Enterprise House on site has a date with the wrecking ball, with demolition expected to get underway this month to allow for the construction of Fragrance Group's 47-storey tower.

Designed by Bates Smart, the pleated building rises from a truncated base which allows for the provision of a pedestrian plaza and improved pedestrian circulation through the site and around to King Street. 

<h2><a href="/developments/melbourne-vic-3000">Olderfleet - 477 Collins Street</a></h2>

<figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public//pictures/article-images/olderfleet_sep18.jpg" rel="gallery-all" title="477 Collins Street aka Olderfleet. Render: Mirvac"><img alt="" class="image-article-full-width-580px" height="413" src="/sites/urban.melbourne/files//styles/article_full_width_580px/public/pictures/article-images/olderfleet_sep18.jpg?itok=Vo4NjraU" title="477 Collins Street aka Olderfleet. Render: Mirvac" width="580"></a>

<figcaption>477 Collins Street aka Olderfleet. Render: Mirvac</figcaption></figure>Mirvac recently announced that it had signed global law firm Norton Rose Fulbright, who will join anchor tenant Deloitte in the Grimshaw-designed tower currently under construction. 

Norton Rose Fulbright will occupy the top floors, committing to 5,100 sqm on levels 35 to 38.

Upon completion Olderfleet will be provide 38 storeys of Premium Grade office space. The project will also include the restoration of the historic Olderfleet Buildings which will link to the new tower via an expansive 30 metre high atrium.

<h2><a href="/buildings/collins-house-melbourne-460-466-collins-street-melbourne">Collins House - 466 Collins Street</a></h2>

<figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public//pictures/article-images/collins_house_aug18.jpg" rel="gallery-all" title="Collins House appearing perpetually complete. Images: Golden Age | Urban.com.au member redden"><img alt="" class="image-article-full-width-580px" height="276" src="/sites/urban.melbourne/files//styles/article_full_width_580px/public/pictures/article-images/collins_house_aug18.jpg?itok=IBEJYzdR" title="Collins House appearing perpetually complete. Images: Golden Age | Urban.com.au member redden" width="580"></a>

<figcaption>Collins House appearing perpetually complete. Images: Golden Age | Apartments.com.au member redden</figcaption></figure>Golden Age and Asia Pacific Group's Collins House is quickly rising however you could be forgiven for thinking it was completed, such is the manner of construction. Set to become the slimmest tower in Australia with 271 apartments across 60 storeys, the Bates Smart-designed building cantilevers 4.5m over the neighbouring building.

In dealing with such a constrained site, builder Hickory employed conventional formwork up to level 14, with the remainder of the tower being constructed with prefabricated modules. By utilising its HBS construction method, Hickory are able to service the project via a single tower crane, with major elements fabricated off-site and then assembled on-site.

This has resulted in a 30% reduction in the overall construction programme expected to last 29 months, with completion in September 2019.

<h2><a href="/buildings/collins-arch-447-collins-street-melbourne">Collins Arch - 447 Collins Street</a></h2>

<figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public//pictures/article-images/collins_arch_rcp_aus.jpg" rel="gallery-all" title="Progress at Collins Arch is picking up. Images: Cbus Property | RCP Australia"><img alt="" class="image-article-full-width-580px" height="370" src="/sites/urban.melbourne/files//styles/article_full_width_580px/public/pictures/article-images/collins_arch_rcp_aus.jpg?itok=LIDPj54O" title="Progress at Collins Arch is picking up. Images: Cbus Property | RCP Australia" width="580"></a>

<figcaption>Progress at Collins Arch is picking up. Images: Cbus Property | RCP Australia</figcaption></figure>As reported on <a href="/news/all-good-and-well-for-447-collins-street">Urban.com.au last week</a>, the commercial component of Collins Arch recently received a platinum level WELL Precertification. 

The twin-tower development which is linked via a tapered skybridge will ultimately deliver 50,000 sqm of premium grade office space, a W Hotel-branded 5-star hotel with 294 rooms, 1,000 sqm of high end retail and 185 apartments.

2,000 sqm of public open space will also be delivered as a part of the development via partial closure of Market Street, upon completion in 2020.

<h2><a href="/developments/melbourne-vic-3000">80 Collins Street</a></h2>

<figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public//pictures/article-images/80_collins_rcp_aus.jpg" rel="gallery-all" title="The first of 80 Collins Street's glazing has been installed. Images: Scharp | RCP Australia"><img alt="" class="image-article-full-width-580px" height="388" src="/sites/urban.melbourne/files//styles/article_full_width_580px/public/pictures/article-images/80_collins_rcp_aus.jpg?itok=X4r-DR-J" title="The first of 80 Collins Street's glazing has been installed. Images: Scharp | RCP Australia" width="580"></a>

<figcaption>The first of 80 Collins Street's glazing has been installed. Images: Scharp | RCP Australia</figcaption></figure>QIC Golbal Real Estate's office development at 80 Collins Street is flying up, with Multiplex at the helm of the steel framed structure. With the 12 metre cantilever now complete the first signs of glazing have begun to emerge on the third Woods Bagot design on the list.

The project includes extensive retail to Collins and Exhibition Streets, with a NEXT branded hotel designed by UN Studio located on Little Collins Street due for completion late next year.

80 Collins Street will also include an Australian-first with double-decker lifts servicing the 39 storey office tower.

<h2>60 Collins Street</h2>

<figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public//pictures/article-images/60_collins.jpg" rel="gallery-all" title="Watch this space... 60 Collins Street. Image: realcommercial"><img alt="" class="image-article-full-width-580px" height="591" src="/sites/urban.melbourne/files//styles/article_full_width_580px/public/pictures/article-images/60_collins.jpg?itok=Kw5LhziQ" title="Watch this space... 60 Collins Street. Image: realcommercial" width="580"></a>

<figcaption>Watch this space... 60 Collins Street. Image: realcommercial</figcaption></figure>Not a construction project as such but one to keep an eye out for according to sources within the industry. The Reserve Bank of Australia are looking to sell the 15 storey building on the corner of Collins and Exhibition Streets after vacating it.

60 Collins Street will form the basis of its own article in a similar vein to this study on <a href="/news/development-scenario-140-150-queen-street-redux">140-150 Queen Street</a>.
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Laurence Dragomir

Melbourne's Collins Street continues to soar as construction heats up

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Adjoining Melbourne buildings at 187 and 189 King Street have been sold to investors.
They went for $4.89 million and $5.32 million respectively.
Both were sold by private families who had used the properties for restaurant businesses.
The 187 King Street premises was double a-storey building on 187 square metres of land, sold fully leased to Hanabishi Japanese restaurant.
The double-storey building on the 186 square metre site at 189 King was sold vacant possession.
Generational changes of ownership prompted both sales, CBRE's Alex Brierley advised.
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Hanabishi Japanese restaurant Melbourne premises fetch $4.89 million

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An unnamed 59 square metre lane in the Melbourne CBD had been sold for $600,000.
Its recent offering attracted interest from more than 100 potential buyers, the Herald Sun reported.
The<a href="https://www.realcommercial.com.au/property-land+development-vic-melbourne-502793878" target="_blank"> unnamed lane</a> runs off another laneway between Little Bourke and Lonsdale Streets.
Its future remains a mystery.
It was speculated during its selling campaign that the rare 59 square metre piece of CBD land could be transformed into a retail space, car parking, or a staple of Melbourne’s colourful lanes: a trendy, hard-to-find bar.
The property is zoned Capital City Zone 1 (CCZ1) allowing for a variety of uses including retail/hospitality, office and residential in a high foot traffic precinct.
Peter Lechte’s family had owned the laneway for 70 years until its sale through Colliers International Victoria selling agent Chris Ling.
The rare offering, that sits just off Niagara Lane, sold two weeks before its expressions of interest campaign was due to close.
The property had belonged to the Lechtes since 1948, when Alan Lechte bought it along with the nearby St Francis Hotel and several warehouses.
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Nameless Melbourne CBD lane sold with future use a mystery

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The syndicate headed by the Melbourne restaurateur Guy Grossi has secured around $7.25 million for the Bottega restaurant premises.
The unconfirmed deal for the Bourke Street premises was struck on an estimated 2.9 per cent yield.
The selling price was well above the initial $5 million-plus expectations when it was listed for sale last month.
More than 250 parties inspected the premises, with 15 formal offers, including three parties who travelled from Asia to inspect the property.
The Melbourne CBD building housing Italian restaurant Bottega offered a 254sq m floorplan and 198sq m landholding.
Savills Australia agents Clinton Baxter, Nick Peden and Benson Zhou were selling the property via an expressions of interest campaign.
Marketing it as an “extremely rare CBD freehold investment” with the restaurant recently extending its lease to paying “a modest rental” of $211,940 per year.
Bottega is run by restaurateur Denis Lucey.
Grossi owns the 1880s-built two-storey building with his wife Melissa, sister along with business partner Liz Rodriguez and her husband, Grossi executive chef Chris Rodriguez. 
Grossi, a judge on My Kitchen Rules, and his partners paid $2.375 million in late 2001 for <a href="https://www.realcommercial.com.au/property-retail-vic-melbourne-502772874" target="_blank">72-74 Bourke Street</a>.
Savills Australia agent Clinton Baxter told the Herald Sun the buyer was a local private investor with other CBD property holdings.
“The scarcity of Melbourne CBD properties on the market, particularly below $10 million, is … resulting in significant pent-up demand,” he said.
 
 
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Guy Grossi syndicate sells Bottega restaurant premises 

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The Reserve Bank of Australia has quietly called for tenders from real estate agents to sell its Melbourne offices.
It is a B-grade, 15-storey tower on the corner of Collins and Exhibition streets.
No agency has yet been chosen, Fairfax Media reported.
The Bank now occupies only 10% of the building.
Reserve Bank staff occupy about 300 square metres on the top floor of 60 Collins Street.
All tenants in the building occupying the remainder of the 12,000 square metres of lettable space have been notified in writing of the forthcoming sale.
The building contains a high security strongroom vault used for storing gold bullion and exchanging bank notes which has now been transferred to a newly built facility the bank’s note printing works in Craigieburn on the Hume Freeway on Melbourne’s outskirts.
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jrobinson-rf4aSBido9

RBA looking to offload Melbourne office

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Multiplex, a leading global contractor, has reached a major construction milestone Topping Out the fifth and final commercial office tower that will complete Walker Corporation’s $2.5 billion landmark Collins Square development located at 727 Collins Street in Melbourne CBD.
The $126 million tower spans 33-levels and is 117 metres high. It will provide a total net lettable area of approximately 40,000 square metres of commercial office space.
Designed by high-profile architects Woods Bagot, the fifth tower will feature high quality office space with an architectural curtain wall façade to provide a light-filled spacious entry and public circulation space.
“We are delighted to reach Topping Out stage at Tower 5, bringing us one step closer to the completion of Collins Square,” said Graham Cottam, Regional Managing Director of Multiplex Victoria.
“The smooth delivery of this substantial project is a reflection of our on-going collaboration with Walker Corporation, which will see Multiplex delivering four of the five towers upon completion of the entire precinct.”
According to Multiplex, some 450 people have worked on-site to date, with a total of 22,000 cubic metres of concrete used to get the final tower to its 33-level height. Completion is on track for October, 2018.
Collins Square is one of the largest commercial office developments in Australia. Spanning an entire city block, it consists of five commercial office buildings providing a combined total of more than 200,000 square metres of net lettable area.
The Collins Square development has a Green Star Design and As Built v3 Rating as well as NABERS Energy 5 Star Rating due to its use of a Tri-Generation system for producing power; along with the rainwater harvesting system and water efficient fixtures and fittings.
Multiplex has completed a number of commercial projects across Melbourne over the past few years including Cbus Properties Medibank office at 720 Bourke Street, National Australia Bank building at 700 Bourke Street and Queensland Investment Corporations development in Collins Street.
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Multiplex tops out final commercial office tower at Collins Square

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A Little Collins Street space in Melbourne’s CBD has attracted strong demand from a range of operators. 
Fitzroys agent Terence Yeh leased the 38 sqm Shop 3, 188 Little Collins Street to Little Temperance café on a 5+5-year deal at $90,000 per annum net, with 4% annual increases. 
Yeh said the typical rate for a similar space would be around $1,800 per sqm, but a rate of $2,368 per sqm was achieved. 
“More than 60 enquiries were received from hospitality, fashion and service retail operators, looking to capitalise on the CBD worker population and the rapidly growing residential catchment in central Melbourne,” he said. 
Yeh negotiated the deal on behalf of a private investor. 
<img src="https://www.urban.com.au/images/2018/2/26/P1160019.JPG" alt="">
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