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.

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"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.

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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."

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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.

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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."

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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."

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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.

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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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A leading education provider has bought a Melbourne CBD office floor for $2.01 million, aiming to cash in on the strong inflow of international students which is driving up demand in the Victorian capital, according to Colliers International. 
Expert Education and Visa Services has bought level three at <a href="https://www.realcommercial.com.au/property-offices-vic-melbourne-502399446" target="_blank">313 Flinders Lane</a> following an international expressions-of-interest campaign.
The deal follows the sale of lot 601 at 224 La Trobe Street to Asia Pacific Education Consultants for $1,956,150, and level nine at 221 Queen Street to Australian Pacific College for $3 million, Colliers said in a media release.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/07/10/MelbOffice.jpg" alt="">
The property agency’s strata office experts Chris Ling and Anthony Kirwan, who brokered the deals, said education and migration groups are eager to capitalise on the influx of international students from Asia and India.
The latest Department of Education and Training statistics show 480,092 international students were recorded in Australia as of March 2017, a 15 per cent rise from March last year.
“Thirty per cent of these students are from China (144,028) and 11 per cent are from India (52,810),” he said.
Melbourne has been a popular destination for students, fuelling demand for education and migration office space, as well as accommodation, added Ling.
“The appetite for these lucrative sectors is growing in line with students’ recognition of Australia as a welcoming country with an impressive choice of education institutions, including The University of Melbourne and RMIT University.”
“Political changes across the US and the UK, including Trump’s election and Brexit, have been a strong deterrent due to racism and immigration restrictions. With the bonus of a low Australian dollar, this demand from international students is likely to continue.”
Ling, Kirwan and Oliver Hay have also just sold levels four and five at 100 Collins Street via expressions of interest.
In fact, there is strong competition for leasing space as well. Leased space to the education sector in Melbourne's CBD in 2016 rose 200 percent on the previous year with increases in land taxes hitting stock levels, putting upward pressure on rents, according to real estate firm Savills.
 
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jonathanchancellor-7SQnKwU6yx

Education provider snaps up Melbourne CBD office for $2 million

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Two corner retail assets at the Paris End of the Melbourne CBD have sold under the hammer to two separate foreign buyers last week, underpinning the demand for central-city trophy assets.
The ground and basement levels of 118 Russell Street are leased and fetched $4.95 million combined, according to Colliers International, which handled the auction campaign.
Award-winning bakery café Brioche By Philip occupies the ground-level tenancy of the iconic Fender Katsilidis-designed Hero building, while pilates and barre gym S3 Studio occupies the basement. 
The selling agents were Colliers International’s Oliver Hay, David Sia and Daniel Wolman.
“At the Paris End of the CBD on a highly visible corner, they are considered real trophy investments. It is becoming increasingly evident that the market is prepared to compromise on yield for the enjoyment and status of a premium CBD asset,” said Hay.
A Chinese investor won the basement level for $3.2 million, setting a record yield of 5.12 percent for basement strata retail assets in the city, according to a media release. 
The ground floor was secured by an offshore investor for $1.75 million resulting in a yield of 3.56 percent. 
Hay said both floors had high-quality fitouts, which would provide the buyers with long-term depreciation tax benefits.
“With the tenancies taking a combined rent total of $226,167 per annum, plus GST and outgoings, the return on investment is unquestionable,” he said.
Brioche By Philip, which has won awards for the best bakery and best sourdough bread in Melbourne, has committed to seven years while S3 Studio has signed a three-year lease, starting in 2015 with three further options to renew.
Sia said the location, within “a stone’s throw” of Melbourne landmarks like Chinatown, high-end Collins Street boutiques and popular bars and eateries, was the key selling point.
 
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Retail assets at Paris End of Melbourne’s CBD fetch $4.95 million at auction

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A classic five-level freestanding retail and accommodation building in the Melbourne CBD has been sold in an off-market transaction through Savills.
The corner building at 2-8 Spencer Street is one of the most recognisable corners in Melbourne. 
The art nouveau building was bought by education entrepreneur Shesh Ghale for a speculated $30 million, according to the Sydney Morning Herald.
The Melbourne Institute of Technology founder is Australia’s 105th richest person.
The 1913-built building, previously known as the <a href="/expert-insights/buying/art-nouveau-spencer-street-melbourne-corner-offering-through-savills">Sir Charles Hotham Hotel</a> and the Hotham Private Hotel, sold for $10.75 million in 2012 and was again put on the market in 2015, as reported in the Property Observer.
The 2012 buyer was associated with private investor Peter Russell's Kurrawong.
The property has frontages to both Spencer and Flinders Streets in the Melbourne CBD.
The sale was negotiated by Clinton Baxter of Savills.
The building’s tenants include Nomads Backpacker Hostel, a backpacker accommodation group.
The corner block has a land area of 883 square metres with a 20.9 metre frontage to Spencer Street and 40.2 metres to Flinders Street. 
When the hotel was first erected the daily press described as one of the largest in the city, close to what was the shipping trade, Spencer Street Railway Station, Harbour trust offices and Railways Offices. 
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Art nouveau building in Melbourne CBD sells in off-market deal

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May 2017 has thus far brought with it a string of cold mornings and a rash of news relating to various developments across Melbourne's CBD.

On the planning front, VCAT have delivered good news to interests seeking to turn the historic Phillips Shirts building at 274-278 Little Lonsdale Street into a substantial tower. Originally planned as a 59-storey residential tower, the design has been substantially clipped to approximately 100 metres in height or 30 levels.

278 Little Lonsdale Pty Ltd is the entity behind the tower which has now been approved for hotel use. Brady Group are the controlling force behind the project, perhaps suggesting that 274-278 Little Lonsdale Street may be developed under the Brady Hotels banner, in a similar move to what the developer has in store for 109-111 Little Lonsdale Street.

<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/image135_3.jpg" rel="gallery-all" title="A new Exhibition Street perspective."><img alt="" class="image-article-full-width-580px" height="259" src="/sites/urban.melbourne/files/styles/article_full_width_580px/public/pictures/article-images/image135_3.jpg?itok=XkwCc9Op" title="A new Exhibition Street perspective." width="580"></a>

<figcaption>A new Exhibition Street perspective.</figcaption></figure>Also widely reported last week is the news that Malaysia's SP Setia have crucially been given the green light from City of Melbourne to pursue redevelopment of 288-326 Exhibition Street. Under the plans dual towers approaching the height of Rialto will be constructed, with unconfirmed whispers that Shangri-La assume control over the development's 500 hotel suites.

Final approval rests with Planning Minister Richard Wynne.

Continuing the hotel theme is news of construction tenders being released for a new Vivo Hotel at 33-35 King Street. Originally approved for 120 apartments across 29 levels, developer BPM have reworked the scheme after purchasing the site, with Elenberg Fraser reportedly installed as the architect of choice.

In projects sales news, 555 Collins Street is due to launch shortly with the project's display suite freshly complete. Replacing a drab existing onsite office building, the Bates Smart-designed tower will stand 47 levels upon completion.

<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/image162.jpg" rel="gallery-all" title="555 Collins Street's envisaged pool deck and Paragon Apartments "><img alt="" class="image-article-full-width-580px" height="271" src="/sites/urban.melbourne/files/styles/article_full_width_580px/public/pictures/article-images/image162.jpg?itok=hpI9chHK" title="555 Collins Street's envisaged pool deck and Paragon Apartments " width="580"></a>

<figcaption>555 Collins Street's envisaged pool deck and Paragon Apartments</figcaption></figure>555 Collins Street adds to Fragrance Group's other Melbourne pursuit, Premier Tower, which will over the coming months begin to rise above street level on its way to an eventual height of 249 metres above Spencer Street. 555 Collins Street's launch comes as the AFR reported last week on Paragon's early sales success within Malaysia. 

49 apartments within the tower located at 316-320 Queen Street have been sold to to Malaysian buyers; accumulated the sales have an end value of $70 million.

Finally the construction front also brings fresh news during May.

Probuild signage has appeared across 271 Spring Street, heralding construction commencement of Australian Unity's new headquarters. The $110 million office tower set over 16 levels includes 15,600 square metres of commercial office space and is due to be completed during 2019.

<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/image158.jpg" rel="gallery-all" title="Probuild's dual new commercial CBD projects. "><img alt="" class="image-article-full-width-580px" height="350" src="/sites/urban.melbourne/files/styles/article_full_width_580px/public/pictures/article-images/image158.jpg?itok=pUqP26Vs" title="Probuild's dual new commercial CBD projects. " width="580"></a>

<figcaption>Probuild's dual new commercial CBD projects.</figcaption></figure>Probuild are also <a href="http://www.probuild.com.au/news/news/probuild-appointed-as-preferred-contractor-to-construct-new-victoria-police-centre-482">set to begin works</a> on Victoria Police's new building at 311 Spencer Street this month. Across 39 levels, 311 Spencer Street encompasses 65,000 square metres of commercial space.

Finally the remaining tower crane servicing Light House at 450 Elizabeth Street is making its way back town to terra firma, indicating that completion is nearing for Melbourne's latest tower to reach the 200 metre club. Hengyi Australia's latest includes over 600 apartments within the 218 metre tower. 

<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/img_0059.jpg" rel="gallery-all" title="Light House stands centre of shot"><img alt="" class="image-article-full-width-580px" height="423" src="/sites/urban.melbourne/files/styles/article_full_width_580px/public/pictures/article-images/img_0059.jpg?itok=X6FTQwpW" title="Light House stands centre of shot" width="580"></a>

<figcaption>Light House stands centre of shot</figcaption></figure>
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silvermb

The May CBD development wrap

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<img src="https://counter.theconversation.edu.au/content/71272/count.gif?distributor=republish-lightbox-basic" alt="The Conversation" width="1" height="1">
GUEST OBSERVER
Integrated transport has long been the holy grail of transport engineering. Now, a project set up north of Melbourne’s CBD aims to make it a reality. 
Led by the School of Engineering at the University of Melbourne, the project will create a living laboratory for developing a highly integrated, smart, multimodal transport system. The goals are to make travel more efficient, safer, cleaner and more sustainable. 
Integrated transport aims to combine various modes of travel to provide seamless door-to-door services. Reduced delays, increased safety and better health can all be achieved by sharing information between users, operators and network managers. This will optimise mobility and minimise costs for travellers.
The National Connected Multimodal Transport Test Bed includes arterial roads and local streets in an area of 4.5 square kilometres in Carlton, Fitzroy and Collingwood.
Bounded by Alexandra Parade and Victoria, Hoddle and Lygon streets, this busy inner-suburban area is a perfect location to test a new generation of connected transport systems. Our growing cities will need these systems to manage their increasing traffic. 
<h2>How will the test bed work?</h2>
The test bed covers all modes of transport. From April, it is due to collect data on vehicles, cyclists, public transport, pedestrians and traffic infrastructure, such as signals and parking. The area will be equipped with advanced sensors (for measuring emissions and noise levels) and communications infrastructure (such as wireless devices on vehicles and signals). 
<div class="enlarge_hint"><a href="https://www.propertyobserver.com.au/images/2017/02/23/Screen%20Shot%202017-02-23%20at%209.26.59%20AM.png" target="_blank">Click to enlarge</a></div>
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The test bed will collect data on all aspects of transport in the inner-suburban area covered by the project. Author provided
The aim is to use all this data to allow the transport system to be more responsive to disruption and more user-focused. 
This is a unique opportunity for key stakeholders to work together to build a range of core technologies for collecting, integrating and processing data. This data will be used to develop advanced information-based transport services.
The project has attracted strong support from government, industry and operators. 
Government will benefit by having access to information on how an integrated transport system works. This can be used to develop policies and create business models, systems and technologies for integrated mobility options. 
The test bed allows industry to create and test globally relevant solutions and products. Academics and research students at the University of Melbourne are working on cutting-edge experimental studies in collaboration with leading multinationals.
This will accelerate the deployment of this technology in the real world. It also creates enormous opportunities for participation in industry up-skilling, training and education. 
<h2>What are the likely benefits?</h2>
Urban transport systems need to become more adaptable and better integrated to enhance mobility. Current systems have long suffered from being disjointed and mode-centric. They are also highly vulnerable to disruption. Public transport terminals can fail to provide seamless transfers and co-ordination between modes. 
This project can help transport to break out of the traditional barriers between services. The knowledge gained can be used to provide users with an integrated and intelligent transport system.
It has been difficult, however, to trial new technologies in urban transport without strong involvement from key stakeholders. An environment and platform where travellers can experience the benefits in a real-world setting is needed. The test bed enables technologies to be adapted so vehicles and infrastructure can be more responsive to real-time demand and operational conditions. 
Rapid advancements in sensing and communication technologies allow for a new generation of solutions to be developed. However, artificial environments and computer simulation models lack the realism to ensure new transport technologies can be properly designed and evaluated. The living lab provides this. 
The test bed will allow governments and transport operators to share data using a common information platform. People and vehicles will be able to communicate with each other and the transport infrastructure to allow the whole system to operate more intelligently. The new active transport systems will lead to safety and health benefits.
The test bed allows impacts on safety in a connected environment to be investigated. Interactions between active transport modes such as walking and cycling with connected or autonomous vehicles can be examined to ensure safety is enhanced in complex urban environments. Researchers will study the effects of warning systems such as red light violation, pedestrian movements near crossings, and bus stops. 
Low-carbon mobility solutions will also be evaluated to improve sustainability and cut transport emissions. 
Environmental sensors combined with traffic-measurement devices will help researchers understand the effects of various types of vehicles and congestion levels. This includes the impacts of emerging disruptive technologies such as autonomous, on-demand, shared mobility systems. 
A range of indoor and outdoor sensor networks, such as Wi-Fi, will be used to trial integrated public transport services at stations and terminals. The goal is to ensure seamless transfers between modes and optimised transit operations.
<a href="https://theconversation.com/profiles/majid-sarvi-334262" target="_blank">Majid Sarvi</a> is chair in Transport Engineering and the Professor in Transport for Smart Cities, University of Melbourne.
<a href="https://theconversation.com/profiles/gary-liddle-334267" target="_blank">Gary Liddle</a> is enterprise professor, Transport, University of Melbourne.
<a href="https://theconversation.com/profiles/russell-g-thompson-330541" target="_blank">Russell G. Thompson</a> is associate Professor in Transport Engineering, University of Melbourne.
All are authors for The Conversation.
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jchancellor-FAypfDUnLy

City streets become a living lab that could transform your daily travel

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Melbourne based fund manager Forza Capital have listed a four level office space on the fringe of the Melbourne CBD.
The 6,178 sqm building is located in South Carlton, just 600 metres from the north eastern fringe of the CBD.
The building on a vast 3,772 sqm - a rare size in the tightly held precinct - comes fully leased with a $2.15 million per annum income.
The tenants are primarily from the health sector. Vic Health and Breast Screen Victoria are two of the most recognisable names, along with the likes of Novotech and Warner Brother.
There are 160 basements car parking spots.
Forza Capital, led by Adam Murchie and Ashley Wain, have enlisted Fitzroy's Paul Burns and Bayley Stuart Real Estate's Alasdair MacGillivray to market <a href="https://www.commercialview.com.au/15-31-pelham-street-carlton-vic/commercial-for-sale-details-11195906" target="_blank">15-31 Pelham Street</a>.
“The property was identified in 2012 due to the scarcity of quality office stock on the northern fringe of the CBD," Wain said, Forza Capital's managing director.
<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/2016/11/03/Carlton2.jpg" alt="" width="415" height="261">
Since their purchase, Forza have seen a 100 percent occupancy ever since.
“Over half of the building’s NLA has been renewed in the last 12 months, with only one tenant vacating and their 1,400m2 tenancy being immediately relet to other tenants in the Health/Medical sectors.” Wain said.
Paul Burns at Fitzroy's said this is a unique and rarely available opportunity.
"At a time when vacancy rates have fallen dramatically and we are on the cusp of enjoying meaningful rental growth, we have an offering which has been securely leased and recently refurbished.” 
“Carlton and the immediate North Eastern CBD fringe is one of the tightest and most securely held pockets of Melbourne.
"When space does come available, major Educational Institutes like Melbourne University and RMIT compete with a number of Healthcare groups who need to be in this location."
 
 
 
 
 
 
 
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mick.cee-iDmgDDAmu8

Forza Capital to offer Melbourne CBD fringe office investment

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The 97 Elizabeth Street heritage building in Melbourne’s CBD has a new tenant in a burger outlet.
Noosa-based Betty’s Burgers have taken a lease on the ground floor, with the 180 sqm space to be made into its Victorian flagship site. 
Fitzroys agents Rick Berry and Jordan Ceppi brokered the lease.
Betty’s Burgers first expansion was into Surfers Paradise on the Gold Coast, with the Elizabeth Street set to be their third outlet, and first outside of Queensland. 
Berry said market rates for large shops such as this, in this section of Elizabeth Street, are at circa $2,000 per sqm. He didn’t reveal the exact lease amount.
The seven-year deal includes 3.5% increases at reviews and begins from August 15. 
“This former Laura Ashley store is well-positioned in a key CBD retail precinct, with wide frontage to Elizabeth Street,” Berry said. 
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Betty's Burgers the new tenant in Melbourne CBD’s Elizabeth St

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EG Funds Management (EG) has acquired a commercial office building in Melbourne CBD for $45.9 million for its Core Plus Fund No. 1.
The property at 277 William Street is within the core legal precinct, adjacent to Flagstaff station.
It was sold through CBRE by Melbourne property player Harry Stamoulis who paid $7.8 million in 1999. 
The 12 level building with 32 basement car parks has a total 12,071 sqm of net lettable area.
At acquisition, the asset is 90 per cent occupied with a 3.5 year WALE, said divisional director of EG Daniel Farley.
Anchored by strong tenants, Shine Lawyers, Medibank and Tenix Solutions, the William Street property is the first Melbourne CBD office asset within the fund.
Th property is the seventh acquisition for the Core Plus Fund No. 1.
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EG's Core Plus Fund 1 buys first Melbourne office block

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

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First <a href="/news/talking-the-talk-386-412-william-street-melbourne">covered by Urban.com.au</a> nearly a year ago, the City of Melbourne's Future Melbourne Committee has resolved to provide conditional support for the revised scheme at 386-412 William Street, currently being considered by DTPLI.

The main driver behind the amended proposal was to address concerns raised by City of Melbourne and DTPLI relating to the initial design of the scheme and overshadowing of Flagstaff Gardens. Architect Elenberg Fraser's revised submission shows a complete overhaul of the scheme, including a substantial reduction in the height and scale of the proposed towers.

The revised scheme is comprised of two towers: 18-storeys and 38-storeys rising to a heights of 57m and 120m respectively. The existing C-grade building on site will be retained as per previous plans with sills proposed to be lowered to accommodate. The 18-storey tower will be positioned on the north-western corner of the site along the William Street and Franklin Street frontages whilst the 38-storey tower which features a sweeping curvature is proposed towards the rear of the site and occupies the full width.

Both towers sit above the existing two storey heritage façade before separating above level 3 atop their respective podiums.

<h2>Solar access</h2>

As previously mentioned one of the key drivers behind the revised application was maintaining solar access to Flagstaff Gardens during the Equinoxes. Given the towers will occupy a prominent corner site City of Melbourne considers an increase in height above that stipulated in DDO14 (60m) is an appropriate response if the architecture is of a "high/exemplary standard" and that there is no overshadowing to the Flagstaff Gardens between 11am to 2pm on 22nd March and 22nd September Equinox.

Clause 22.02 (Sunlight to Public Spaces) requires the following for new developments:

<blockquote>
Development should not reduce the amenity of public spaces by casting any additional shadows on public parks and gardens, public squares, major pedestrian routes including streets and lanes (including all streets within the retail core of the Capital City Zone), and privately owned plazas accessible to the public between 11.00 am and 2.00 pm on 22 September.
</blockquote>

<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/solar_access_to_flagstaff.jpg" rel="gallery-all" title="Solar diagram and Central Park precedent. © Elenberg Fraser"><img alt="" class="image-article-full-width-580px" height="267" src="/sites/urbanmelbourne.info/files/styles/article_full_width_580px/public/pictures/article-images/solar_access_to_flagstaff.jpg?itok=OseAUXHW" title="Solar diagram and Central Park precedent. © Elenberg Fraser" width="580"></a>

<figcaption>Solar diagram and Central Park precedent. © Elenberg Fraser</figcaption></figure>While our northern cousins bemoan the solar plane's application to their skyscrapers and the limitations that are inflicted height-wise, Elenberg Fraser's application to the scheme has resulted in a far more architecturally interesting outcome that isn't a typical extrusion or repeated pancake. The above image, provided to Apartments.com.au by Elenberg Fraser with Central Park as the precedent illustrates how tall towers can sit adjacent to parks while still maintaining a high level of amenity so long as they are designed with solar access in mind.

<h2>Development summary</h2>

<ul>
<li>Two towers at 18-storeys, 57m and 38-storeys, 120m.</li>
	<li>410 apartments and 210 hotel rooms.</li>
	<li>1,053 sqm of retail including a café and a 24/7 restaurant on level 3.</li>
	<li>2 x 10-storey podiums above heritage building setback 500mm from facade.</li>
	<li>145 basement level parking spaces: 125 resident and 20 hotel.</li>
	<li>32 motorcycle spaces.</li>
	<li>576 bicycle spaces: 502 resident, 50 visitor, 24 hotel staff.</li>
</ul>
<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/programme_break_down_-_axo.jpg" rel="gallery-all" title="Development Summary axonometric. © Elenberg Fraser"><img alt="" class="image-article-full-width-580px" height="386" src="/sites/urbanmelbourne.info/files/styles/article_full_width_580px/public/pictures/article-images/programme_break_down_-_axo.jpg?itok=ZIT72puY" title="Development Summary axonometric. © Elenberg Fraser" width="580"></a>

<figcaption>Development Summary axonometric. © Elenberg Fraser</figcaption></figure><h2>Heritage and Streetscape</h2>

The subject site is affected by the planning scheme Amendment C198 City North Heritage Review which recommends that the site be included in the Heritage Overlay and be given a ‘C’ grading in City of Melbourne’s Heritage Places Inventory 2008.​One of the conditions of approval recommended by the City of Melbourne's Urban Design and Heritage advisors is that the taller tower is required to be setback 3m from the original façade along William and Franklin Streets.

At street level reduced sill levels are intended provide a more permeable street level interface with a considerable amount of retail proposed to activate William and Franklin Streets. Above both buildings feature a 2.7m rebate or 'shadow line' to separate the new interventions from the heritage fabric.

<blockquote>
Achieving a 3m setback for building 2 (18 storeys) from both street frontages could be more problematic given the smaller size and scale of this building. It appears that if a 3m setback is proposed from both street frontages this may render the development unviable as the setback is required all the way up to level 12. Setting back the entire tower 3m from both street frontages may result in a ‘shifting’ of the form rather than a reduction in the building footprint which would result in a lesser tower separation between Towers 1 and 2. This is not considered to be a good urban design outcome.

Building 2 has a 2.7m setback on level 2 which is reduced from levels 3 to 12 where only a 0.5m setback is proposed. Discussions undertaken with the manager of City of Melbourne’s Urban Design Department suggests that an option to address both heritage and urban design issues could be to achieve the 2.7m setback on level 3 and then a 1m setback from levels 4 to 12. This will not require a significant reconfiguration of the proposed layout and will ensure the development is viable.
<cite>City of Melbourne</cite>
</blockquote>

<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/386_william_st_additional2_exterior_view_02_updated_reduced.jpg" rel="gallery-all" title="386 William Street street interface. © Elenberg Fraser"><img alt="" class="image-article-full-width-580px" height="349" src="/sites/urbanmelbourne.info/files/styles/article_full_width_580px/public/pictures/article-images/386_william_st_additional2_exterior_view_02_updated_reduced.jpg?itok=P5cAF9q3" title="386 William Street street interface. © Elenberg Fraser" width="580"></a>

<figcaption>386 William Street street interface. © Elenberg Fraser</figcaption></figure><h2>Comment</h2>

386 William Street is an interesting case study for an application of planning controls that allows for flexibility to developers and their architects while still achieving the goals set out under planning provisions. Here the development has benefited from an architectural perspective resulting in a dynamic form on the Melbourne skyline while maintaining solar access to Flagstaff Gardens and contributing to the activation and regeneration of the northern end of the CBD around the Queen Victoria Market Precinct.
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