The residential transformation of St Kilda Road is set to continue into with more new apartment plans for the sought-after boulevard.

Wing Tai Asia has lodged plans for a major residential tower at 464-466 St Kilda Road, replacing the former VACC House with an 18-storey mixed-use development designed around a retained heritage podium and a sculpted contemporary tower.

The proposal, prepared under Victoria’s Significant Residential Development with Affordable Housing pathway, would deliver 325 apartments and ground-floor retail across the prominent 4,653 sqm boulevard site in Melbourne’s St Kilda Road North Precinct.

The project centres on the adaptive reuse of the site’s heritage-listed VACC Building, an eight-storey office designed by Bernard Evans that has occupied the address for decades. Planning documents state the development would involve “carefully dismantling and conserving off-site the original metal fabric of the podium visible from St Kilda Road,” before reinstating it as the defining frontage of the new scheme.

Above the restored podium, Wing Tai is proposing a curvilinear residential tower. The scheme includes 172 one-bedroom apartments, 63 two-bedroom apartments, 66 three-bedroom apartments, and 24 four-bedroom apartments, alongside two ground-floor food and beverage tenancies fronting St Kilda Road.

The tower has been designed with substantial articulation and variable setbacks to minimise perceived bulk and maintain view corridors along the boulevard. Urbis, which prepared the planning report, said the design “has been significantly articulated through a curvilinear design” with “an interplay with materials, façade expression and depth” to create visual separation and visual interest.

The proposal also includes 254 basement car spaces, landscaped pedestrian links connecting St Kilda Road and Queens Lane, and a biophilic landscape strategy featuring canopy trees, raised planters, cascading greenery and a glass oculus pool overlooking the eastern frontage.

Planning documents confirm the $270.1 million development will contribute 3 per cent of project costs to the Social Housing Growth Fund as part of the application process.

Wing Tai acquired the St Kilda Road property in 2018 alongside Abacus Property Group for $95.38 million, before later consolidating ownership of the site. The property previously served as the Victorian Automobile Chamber of Commerce headquarters for around 60 years.

The transformation of the St Kilda Rd boulevard is already beginning to materialise, with a number of high-profile projects recently completed, launched, or approaching launch as developers continue to back the long-term appeal of the precinct.

Among the most notable recent completions is Louise by Samuel Property Group, just off the strip on Queens Lane, the same pocket Hirsch &amp; Faigen recently launched The Queensbury. Mirvac is too on the same street with The Albertine, which is approaching completion.

Dexus recently secured approval for its slice of St Kilda Road, while Gurner also has approved plans for the precinct.

Joel Robinson

Wing Tai unveils 325-apartment St Kilda Road tower on former VACC House site

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

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

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

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

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

Bottega House secures landmark riverfront site in St Lucia 

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

SIERA kicks off construction at Northcliffe tower Exhale

Melbourne

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The home of Melbourne's Hare Krishna movement in Swanston Street has been sold to a Chinese investor for $15.8 million, breaking the 16 year drought of selling a freestanding property in central Swanston Street.
Savills agents Clinton Baxter and Nick Peden said the buyer of 123 Swanston St had bought three weeks before the close of the expressions of interest period.
"This is the state of what is an extraordinary market where a purchaser buys several weeks prior to the close of a campaign with a knock-out offer more than $5.8 million or nearly 60% above expectations for the property," Mr Baxter said.
"The eight level building is leased to two long-standing tenants including Downtown Revolution which occupies the ground and basement levels, whilst the Hare Krishna organization occupies three of the upper levels on a five year lease.  
"Both tenants have five year leases at a total current rental of $438,400 per annum."
"The vendor purchased the property in 1997 for $1,860,000 and enjoyed exceptional capital growth of 849% during the 18 years of ownership plus rental income throughout."
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mick.cee-iDmgDDAmu8

Hare Krishna's Melbourne HQ sold

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Businessman James Roche has secured $7,188,888 for his renovated Toorak home.
Title Tattle gathers 176 Kooyong Road sold to Chinese buyers from Parkdale.
Roche bought it for $6.51 million in late 2010 from Sarah Freeman who recently bought again in Toorak for $6.5 million from John McMurrick, co-founder of insurance giant Freeman McMurrick.
The single level residence on 1,140 sqm at 176 Kooyong had been listed through Kay &amp; Burton since April last year.
Title Tattle recalls when Simone Semmens secured $2,625,000 back in 2000 after her renovation of the 1930s dwelling.
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firstname1-iYD4UYzvBa

The $7,188,888 Kooyong Road, Toorak sale

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An auction clearance rate of 76 per cent was recorded this weekend with 479 Melbourne auctions reported to the REIV.
It was down on the 79 per cent success rate recorded on the last weekend in June, and less than the 77 per cent the weekend before.
It was 73 per cent this weekend last year.
There were 864 auctions reported to the REIV last weekend.
The REIV was expecting about 600 auctions in 218 suburbs on the July 4 weekend.
The top auction locations on the weekend were Reservoir and Yarraville with nine auctions in each, followed by Dandenong North with eight auctions.
<img src="https://i3.au.reastatic.net/800x600/505317257e35a7311bbf0888ea063992a1ac9afac3517b5ad97f59f652a5fa65/main.jpg" alt="675 Moorooduc Highway, Moorooduc" title="675 Moorooduc Highway, Moorooduc" data-index="0">
With many suburbs heading into winter hibernation, the top sale (above) was a <a href="https://www.realestateview.com.au/Real-Estate/675-moorooduc-highway-moorooduc/Property-Details-buy-residential-8918176" target="_blank">hobby farm at Moorooduc</a> on the Mornington Peninsula. It was a single level 40 square home on the 28 hectares offered through McEwing Partners.
TOP 5 HOUSES
1. 675 Moorooduc Highway, Moorooduc $3,352,000 2. 17 Elmhurst Road, Blackburn $3,010,000 3. 10 Landen Avenue, Balwyn North $2,688,888 4. 9 Malua Street, Ormond $2,618,500 5. 42 Bell Street, Fitzroy $2,385,000
TOP 5 BARGAIN HOUSES
1. 10 Plantation Avenue, Frankston North $270,000 2. 4/41 Leonard Avenue, Noble Park $281,000 3. 2 Benalla Street, Dallas $317,000 4. 32 Warringa Crescent, Hoppers Crossing $350,000 5. 25 Billingham Road, Deer Park $363,500
 TOP 5 APARTMENTS
1. 302/2 Pier Street, Port Melbourne $2,525,000 2. 3/15 Parring Road, Balwyn $1,410,000 3. 9B Hillside Avenue, Bentleigh $1,320,000 4. 14 Davies Street, Port Melbourne $1,250,000 5. 19A Clements Street, Bentleigh East $1,200,000
TOP 5 BARGAIN APARTMENTS
1. 1/62 Victoria Street, Hastings $281,000 2. 6/55 Wellington Street, Flemington $320,000 3. 6/47 Rathcown Road, Reservoir $343,000 4. 1/29 Gladstone Parade, Glenroy $350,000 5. 19/48 Passfield Street, Brunswick West $350,000
<a href="https://www.reiv.com.au/Property-Research" target="_blank">Source REIV</a>
A clearance rate of 78 per cent was recorded throughout June 2015, compared to 72 per cent last June.
"This is the highest clearance rate for the month since 2009," REIV chief Enzo Raimondo advised.
There were around 2,300 auction sales in June 2015 compared to 2,100 over the same period last year. 
The suburbs with the highest number of auction sales for the month were Balwyn North (39 sales), Reservoir (38 sales) and Glen Waverley (37 sales).
Balwyn Norh maintained its regular appearance in the REIV top five sale with 10 Landen Avenue, Balwyn North fetching $2,688,888 in is recently notified sale result.
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jchancellor-FAypfDUnLy

Moorooduc's time to shine as Melbourne weekend auction success rate slips to 76%: REIV

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Melbourne affordability issues have been good news for some regional centres within commuting distance of Melbourne, according to the Real Estate Institute of Victoria.
"As the price of property in suburbs close to town has risen, buyers have looked further out," Enzo Raimondo, the REIV chief says.
"In towns such as Castlemaine and Kyneton prices have increased as families, priced out of Melbourne, have bought into the area.
"And generally the properties which have increased the most are those close to the station, although other factors such as character features and the quality of the home also have a bearing."
"While some people are lucky enough to buy and sell in a relatively short period and make money, REIV data shows that there are excellent capital gains to be made for those willing to hold a house in the longer term.
"For example, in 2008 the median price of a three-bedroom home in inner Melbourne was $740,000. 
"By December last year it was $990,000. In outer Melbourne the median of $320,000 was $432,000 by December last year. 
"And in regional Victoria the increase was from $240,000 for a three-bedroom home to $302,500."
 
 
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Regional Victoria price growth from commuter buyers

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Marcel Kreis, the former chairman of private banking for the Asia-Pacific region for the Zurich-based Credit Suisse, has upgraded South Yarra residences.
He secured $3.7 million last month for his redundant Murphy Street abode, which was bought in 2012 for $3.2 million. The Murphy Street property did previously have $4 million-plus hopes.
Its sale was some months after the buyers agency Jacobs Buyer Advocates reported on its unsuccessful auction noting "even Gerald Delany couldn’t persuade the crowd of 20 odd to raise their hand."
It seemed buyer’s were calculating the cost of bringing the residence back to the original floor plan.
Gerald Delany placed a vendor bid at $3.7 million.
Eventually he passed the property in at this level with a whispered offer of $3.5 million rejected after the property was passed in.
Designed by architect Nicholas Day, the recently sold 390-square-metre apartment is in a quiet South Yarra street, between Domain and Toorak roads. 
There are two apartments in the block; the upstairs apartment had been kept and lived in by the developer owner.  
Back in 2001 the Melbourne-based producer and writer team Nadia Tass and David Parker had paid $1.545 million for the then house at Murphy Street.
Their movie industry box office successes include Malcolm, Amy, The Big Steal and Rikki and Pete.
The house was sold by developer Simon Bancroft, whose previous family interests included a dry-cleaning business.
Marcel Kreis has bought the other within the duplex for $4.3 million.
Kreis had joined Credit Suisse in 2007 from UBS AG, Switzerland’s biggest bank, after posts that also spanned Citigroup Inc. and the Merrill Lynch international wealth arm. 
<div id="experience-579882897">
<div id="experience-579882897-view">
He is now the managing director at Branded Trust Assurance Systems, which developed a suite of web-based business management systems, using state-of-the-art cloud technology, to assist businesses to effectively and efficiently manage social responsibility and sustainability. He is also a non-executive director at the Myer Family Company, to whom he provides strategic investment advice.
</div>
</div>
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Marcel Kreis upgrades in South Yarra 

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Construction of Larry Kestelman's Capitol Grand project in South Yarra will soon proceed after approval from the Victorian Civil and Administrative Tribunal.
It is for a 450-unit, two-tower development. Larry Kestelman said that the decision was "great news" for those that wanted to buy one of the apartments. The one bedroom dwellings will range in size from 48m2 to 57m2 and the two bedroom dwellings from 72m2 to 150m2. The three bedroom dwellings and large penthouses extend up to 193m2. 
LK Property Group took the Stonnington Council to VCAT after failing to win council approval for the proposed 50-storey taller tower. Council officers had recommended approval.
"We do not agree with the council’s assessment that the proposed development, described by the Council as an excessively high building, when viewed in the context of the other buildings in the precinct, will result in an overbearing presence on Toorak Road, Chapel Street and the Forrest Hill Precinct," VCAT ruled.
Apartments are set to sell for between $1 million and $20 million plus for the penthouses.
Work is due to start in September on the project promoted by actress Charlize Theron on the former Capitol Bakery site in South Yarra, set at the corner of Toorak Road and Chapel Street.
"I am a passionate Melbourne developer and am very proud to be able to create a development that will bring a new level of luxury and international quality to our city. "Together with Roger Poole and his team at Bates Smart architects, we have sought to bring to life a vision for Melbourne's first luxury New York-style development that would match the iconic location of Toorak Road and Chapel Street, South Yarra. "Capitol Grand will position South Yarra back in its rightful place as the epicentre of fashion, luxury and dining and reinvigorate Chapel Street and Toorak Road," Larry Kestelman. LK Property Group has had over 4000 registrations of interest for Capitol Grand South Yarra with significant takeup of their online holding deposit pre-sales process. 
Most of the demand has been driven from the local market, with LK Property Group shortly opening the Capitol Grand sales suite. VCAT's ruling said it consider the proposed <a href="https://www.capitolgrand.com/?creative=65529753738&amp;keyword=capitol%20grand&amp;matchtype=p&amp;network=g&amp;device=c&amp;gclid=COObp4LAuMYCFVckvQodrg8Lqg" target="_blank" style="font-size: 12.1599998474121px; line-height: 1.3em;">Capitol Grand</a> development presented as "an iconic, slender, sculptured building …. which would be an architectural landmark" 
"As the history of the site was explained to us it became apparent that ultimately the proposed development for this site has become, with each iteration, a sophisticated development proposal. Whilst there was some suggestions of changes, including a reduction in height, we consider that tinkering around the edges would be counterproductive to the ultimate design," VCAT acting deputy president Jeanette G Rickards and member Peter Gray wrote in their judgment.
It is a  5,600m2 site. Several previous permits have been issued, all at the direction of the Tribunal.
They allowed for the demolition of all buildings on the land and for a mixed use development that includes shops and dwellings:
  Permit 0592/01 issued September 2002 (27 Storeys – 97.5AHD)
  Permit 0600/008 issued 30 June 2009 (‘Twin Ellipse’ or ‘Capitol 1’)(139.4 AHD)
  In November 2010 an amendment was sought to Permit 0600/008 to increase the height to 162.75 AHD. This application was rejected by the Tribunal.
  In 2013 the Tribunal amended Permit 0600/008. The design of the building was substantially changed but there was no change in the overall height of 139.4AHD (‘Capitol II’). 
To the immediate west at 227 and 229 Toorak Road is a 25 storey mixed use building known as “ILK” with a height of 89.76AHD, to the north is 627 Chapel street, a six storey office building. To the east of the site is the ‘Como’ development, containing a number of separate yet interlinked buildings which culminate in the Channel 10 building at 19 storeys in height. To the north of ‘Como’ is 670 Chapel Street, a 31 storey building with a height of 118m (125AHD). To the south of the site, along Toorak Road and Chapel Street, development is generally Victorian era shops, such as the Country Road building, of between 1 and 3 storeys in height with some contemporary infill development.
There were no height restrictions on the subject site.
Buildings that have been constructed within the precinct range in height as follows:
Yarra Street-  18 Yarra Street – 25 storeys – 80 AHD
-  2- 4 Yarra Street – 30 storeys – 101 AHD
Claremont Street
-  2 Claremont Street – 20 Storeys
-  3-5, 7-9 Claremont Street – 20 storeys - 69 AHD
-  10 Claremont Street – 15 storeys
-  12a – 14 Claremont Street – 15 storeys
-  38 - 40 Claremont Street – 19 storeys - 56 AHD
-  50 Claremont Street – 20 storeys
Daly Street
- 4-10 Daly Street – 20 storeys - 70 AHD
Chapel Street
<ul>
<li>-  631 Chapel Street (Olsen Hotel) – 15 storeys</li>
<li>-  Como Building – 18 and 20 storeys – 83 AHD</li>
<li>-  670 Chapel Street – 31 storeys - 125 AHD </li>
</ul>
 
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LK's iconic Capitol Grand, South Yarra apartment site secures planning approval

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A new report has noted housing market conditions in the suburb of Northcote as 'excellent', with median house prices at $943,000 rising 4.2% in the last quarter. The median sale price in the local apartment market, however, declined 1.81% for the quarter to $487,500.
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The Herron Todd White June Month in Review report also noted suburb of Carnegie was noted for an 'impressive' residential housing capital growth rate of 7.19% for the financial year and the highest median sales prices for for the past three years in with a $1,277,500 March investment. 
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Overseas investors have particular interest in prestige and off the plan investments in the Melbourne suburbs of Doncaster, Balwyn and Templestowe, often bidding against other potential purchases from overseas to enter the market above cost.
<a href="/images/2015/06/29/vic_houses.jpg" target="_blank">Click to enlarge</a>
<img src="/images/2015/06/29/vic_houses.jpg" alt="" width="2205" height="1408">
 
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Northcote shining in Melbourne property market: Herron Todd White

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Melbourne notched up a clearance rate of 79% compared to 77% last weekend and 73% this weekend last year.
There were 763 auctions reported to the REIV on the weekend.
Auction sales have continued to track higher with around 14,000 sales so far this year, the highest on record, Enzo Raimondo the REIV chief said.
"The outer Melbourne region experienced the strongest auction sales growth in the year date, up 20 per cent from the same time last year," Enzo Raimondo advised.
The top sale was a Malvern development site after eight bidders gathered in the backyard of the five-bedroom early-1900's Edwardian home on Friday afternoon.
It sold at $4.78 million after being advertised as "an exceptional opportunity to potentially develop as a luxury apartment complex." 
It had high ceilings, Baltic pine floors and stained glass windows. The 1,045 sqm site was near Spring Road.
 
TOP 5 HOUSES 
1. 1269 High Street, Malvern $4,780,000 (pictured above) 2. 20 Studley Avenue, Kew $4,580,000 3. 27 &amp; 29 Clyde Street, Box Hill North $3,565,000 4. 1A Monomeath Avenue, Canterbury $3,500,000
Malvern listings have been attracting very active attention on the realestateview.com.au website in the latter stages of autumn and early winter.
Analysis showed the top two most clicked sold listings on the website were in the inner eastern precinct, of varied price.
The list (below) coincided with a marketing campaign (below) by the website to promote its listing successes.
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<div class="full-adv"><a href="https://www.realestateview.com.au/sell-my-home?utm_source=REIV&amp;utm_medium=banner&amp;utm_content=skyscraper&amp;utm_campaign=lets-go-fishing"><img src="https://www.reiv.com.au/~/media/advertisements/gone-fishing_skyscraper_160x600.ashx"></a></div>
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1) <a href="https://www.realestateview.com.au/Real-Estate/29-hughes-street-malvern-east/Property-Details-sold-residential-8700900" target="_blank">29 Hughes Street, MALVERN EAST, VIC, 3145</a> Sold for $2,310,000 (pictured above)
A classic Californian-style four bedroom family home that blends the best of indoor and outdoor living. Complete with Blackbutt floorboards, wine cellar and large well-equipped kitchen, this trophy home features a full tiled solar heated pool as centrepiece.
2) <a href="https://www.realestateview.com.au/Real-Estate/the-avenue-malvern-east/Property-Details-sold-residential-8611342" target="_blank">The Avenue , MALVERN EAST, VIC, 3145</a>, Sold for $825,000
Classic charm abounds in this renovated Art Deco home with raised ceilings, contemporary exposed joinery and immaculate finishings. Close to all amenities including schools, trams, cafes and parkland. 
3) <a href="https://www.realestateview.com.au/Real-Estate/51-1-wellington-crescent-east-melbourne/Property-Details-sold-residential-8687258" target="_blank">51/1 Wellington Crescent, EAST MELBOURNE, VIC, 3002</a>, Price undisclosed
This two level penthouse is located in the Wellington Gardens complex and includes a third level entry, vast living areas and a leafy outlook. The complex itself features recreation and health facilities and secure entry.
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Successful Malvern auction listings catching the most clicks

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The REIV has released tables with a summary of Melbourne and Victorian median house prices and rents for the 12 months ending March 2015.
Yields for two bedroom houses.
<table class="t1" cellspacing="0" cellpadding="0"><tbody>
<tr>
<td class="td1" valign="bottom">
Region
</td>
<td class="td1" valign="bottom">
Gross Rental Yield
</td>
<td class="td2" valign="bottom">
 Median Rent
</td>
<td class="td3" valign="bottom">
 Median Price
</td>
</tr>
<tr>
<td class="td4" valign="bottom">
Inner
</td>
<td class="td4" valign="bottom">
3.2%
</td>
<td class="td5" valign="bottom">
$490
</td>
<td class="td6" valign="bottom">
$804,000
</td>
</tr>
<tr>
<td class="td1" valign="bottom">
Middle
</td>
<td class="td1" valign="bottom">
2.9%
</td>
<td class="td2" valign="bottom">
$345
</td>
<td class="td3" valign="bottom">
$627,500
</td>
</tr>
<tr>
<td class="td4" valign="bottom">
Outer
</td>
<td class="td4" valign="bottom">
3.9%
</td>
<td class="td5" valign="bottom">
$300
</td>
<td class="td6" valign="bottom">
$400,000
</td>
</tr>
<tr>
<td class="td1" valign="bottom">
Metro
</td>
<td class="td1" valign="bottom">
3.0%
</td>
<td class="td2" valign="bottom">
$410
</td>
<td class="td3" valign="bottom">
$700,550
</td>
</tr>
<tr>
<td class="td4" valign="bottom">
Regional
</td>
<td class="td4" valign="bottom">
5.3%
</td>
<td class="td5" valign="bottom">
$250
</td>
<td class="td6" valign="bottom">
$245,500
</td>
</tr>
</tbody></table>
Yields for three bedroom houses
<table class="t1" cellspacing="0" cellpadding="0"><tbody>
<tr>
<td class="td1" valign="bottom">
Region
</td>
<td class="td1" valign="bottom">
Gross Rental Yield
</td>
<td class="td2" valign="bottom">
 Median Rent
</td>
<td class="td3" valign="bottom">
 Median Price
</td>
</tr>
<tr>
<td class="td4" valign="bottom">
Inner
</td>
<td class="td4" valign="bottom">
3.0%
</td>
<td class="td5" valign="bottom">
$580
</td>
<td class="td6" valign="bottom">
$1,005,000
</td>
</tr>
<tr>
<td class="td1" valign="bottom">
Middle
</td>
<td class="td1" valign="bottom">
3.1%
</td>
<td class="td2" valign="bottom">
$380
</td>
<td class="td3" valign="bottom">
$645,000
</td>
</tr>
<tr>
<td class="td4" valign="bottom">
Outer
</td>
<td class="td4" valign="bottom">
4.1%
</td>
<td class="td5" valign="bottom">
$341
</td>
<td class="td6" valign="bottom">
$435,000
</td>
</tr>
<tr>
<td class="td1" valign="bottom">
Metro
</td>
<td class="td1" valign="bottom">
4.9%
</td>
<td class="td2" valign="bottom">
$290
</td>
<td class="td3" valign="bottom">
$310,000
</td>
</tr>
<tr>
<td class="td4" valign="bottom">
Regional
</td>
<td class="td4" valign="bottom">
3.4%
</td>
<td class="td5" valign="bottom">
$380
</td>
<td class="td6" valign="bottom">
$580,000
</td>
</tr>
</tbody></table>
Yields for four bedroom houses 
<table class="t1" cellspacing="0" cellpadding="0"><tbody>
<tr>
<td class="td1" valign="bottom">
Region
</td>
<td class="td1" valign="bottom">
Gross Rental Yield
</td>
<td class="td2" valign="bottom">
 Median Rent
</td>
<td class="td3" valign="bottom">
 Median Price
</td>
</tr>
<tr>
<td class="td4" valign="bottom">
Inner
</td>
<td class="td4" valign="bottom">
2.6%
</td>
<td class="td5" valign="bottom">
$770
</td>
<td class="td6" valign="bottom">
$1,535,000
</td>
</tr>
<tr>
<td class="td1" valign="bottom">
Middle
</td>
<td class="td1" valign="bottom">
2.9%
</td>
<td class="td2" valign="bottom">
$495
</td>
<td class="td3" valign="bottom">
$886,500
</td>
</tr>
<tr>
<td class="td4" valign="bottom">
Outer
</td>
<td class="td4" valign="bottom">
3.7%
</td>
<td class="td5" valign="bottom">
$395
</td>
<td class="td6" valign="bottom">
$560,000
</td>
</tr>
<tr>
<td class="td1" valign="bottom">
Metro
</td>
<td class="td1" valign="bottom">
3.2%
</td>
<td class="td2" valign="bottom">
$440
</td>
<td class="td3" valign="bottom">
$726,000
</td>
</tr>
<tr>
<td class="td4" valign="bottom">
Regional
</td>
<td class="td4" valign="bottom">
4.3%
</td>
<td class="td5" valign="bottom">
$350
</td>
<td class="td6" valign="bottom">
$425,000
</td>
</tr>
</tbody></table>
The REIV has also released tables with a summary of <a href="/expert-insights/buying/melbourne-residential-apartment-investors-yielding-from-3-5-reiv">Melbourne and Victorian median unit prices and rents for the 12 months ending March 2015</a>.
 
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Melbourne residential house investors yielding from 2.6%: REIV

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The REIV has released tables with a summary of Melbourne and Victorian median prices and rents for the 12 months ending March 2015.
Yields for one bedroom units.
<table dir="ltr" border="1" cellspacing="0" cellpadding="0">
<colgroup>
<col width="152">
<col width="152">
<col width="156">
<col width="159">
</colgroup>
<tbody>
<tr>
<td data-sheets-value='[null,2,"Region "]'>Region </td>
<td data-sheets-value='[null,2,"Gross Rental Yield"]'>Gross Rental Yield</td>
<td data-sheets-value='[null,2,"Median Rent"]'>Median Rent</td>
<td data-sheets-value='[null,2,"Median Price"]'>Median Price</td>
</tr>
<tr>
<td data-sheets-value='[null,2,"Inner"]'>Inner</td>
<td data-sheets-value="[null,3,null,0.05]" data-sheets-numberformat='[null,3,"0.0%",1]'>5.0%</td>
<td data-sheets-value="[null,3,null,356]" data-sheets-numberformat='[null,4,"\"$\"#,##0",1]'>$356</td>
<td data-sheets-value="[null,3,null,367000]" data-sheets-numberformat='[null,4,"\"$\"#,##0",1]'>$367,000</td>
</tr>
<tr>
<td data-sheets-value='[null,2,"Middle"]'>Middle</td>
<td data-sheets-value="[null,3,null,0.048]" data-sheets-numberformat='[null,3,"0.0%",1]'>4.8%</td>
<td data-sheets-value="[null,3,null,280]" data-sheets-numberformat='[null,4,"\"$\"#,##0",1]'>$280</td>
<td data-sheets-value="[null,3,null,305000]" data-sheets-numberformat='[null,4,"\"$\"#,##0",1]'>$305,000</td>
</tr>
<tr>
<td data-sheets-value='[null,2,"Outer"]'>Outer</td>
<td data-sheets-value="[null,3,null,0.041]" data-sheets-numberformat='[null,3,"0.0%",1]'>4.1%</td>
<td data-sheets-value="[null,3,null,230]" data-sheets-numberformat='[null,4,"\"$\"#,##0",1]'>$230</td>
<td data-sheets-value="[null,3,null,291250]" data-sheets-numberformat='[null,4,"\"$\"#,##0",1]'>$291,250</td>
</tr>
<tr>
<td data-sheets-value='[null,2,"Metro"]'>Metro</td>
<td data-sheets-value="[null,3,null,0.051]" data-sheets-numberformat='[null,3,"0.0%",1]'>5.1%</td>
<td data-sheets-value="[null,3,null,350]" data-sheets-numberformat='[null,4,"\"$\"#,##0",1]'>$350</td>
<td data-sheets-value="[null,3,null,355000]" data-sheets-numberformat='[null,4,"\"$\"#,##0",1]'>$355,000</td>
</tr>
<tr>
<td data-sheets-value='[null,2,"Regional"]'>Regional</td>
<td data-sheets-value="[null,3,null,0.057]" data-sheets-numberformat='[null,3,"0.0%",1]'>5.7%</td>
<td data-sheets-value="[null,3,null,165]" data-sheets-numberformat='[null,4,"\"$\"#,##0",1]'>$165</td>
<td data-sheets-value="[null,3,null,149500]" data-sheets-numberformat='[null,4,"\"$\"#,##0",1]'>$149,500 
</td>
</tr>
</tbody>
</table>
Yields for two bedroom units
<table dir="ltr" border="1" cellspacing="0" cellpadding="0">
<colgroup>
<col width="152">
<col width="152">
<col width="156">
<col width="159">
</colgroup>
<tbody>
<tr>
<td data-sheets-value='[null,2,"Region "]'>Region </td>
<td data-sheets-value='[null,2,"Gross Rental Yield"]'>Gross Rental Yield</td>
<td data-sheets-value='[null,2,"Median Rent"]'>Median Rent</td>
<td data-sheets-value='[null,2,"Median Price"]'>Median Price</td>
</tr>
<tr>
<td data-sheets-value='[null,2,"Inner"]'>Inner</td>
<td data-sheets-value="[null,3,null,0.042]" data-sheets-numberformat='[null,3,"0.0%",1]'>4.2%</td>
<td data-sheets-value="[null,3,null,450]" data-sheets-numberformat='[null,4,"\"$\"#,##0",1]'>$450</td>
<td data-sheets-value="[null,3,null,554500]" data-sheets-numberformat='[null,4,"\"$\"#,##0",1]'>$554,500</td>
</tr>
<tr>
<td data-sheets-value='[null,2,"Middle"]'>Middle</td>
<td data-sheets-value="[null,3,null,0.04]" data-sheets-numberformat='[null,3,"0.0%",1]'>4.0%</td>
<td data-sheets-value="[null,3,null,351]" data-sheets-numberformat='[null,4,"\"$\"#,##0",1]'>$351</td>
<td data-sheets-value="[null,3,null,460000]" data-sheets-numberformat='[null,4,"\"$\"#,##0",1]'>$460,000</td>
</tr>
<tr>
<td data-sheets-value='[null,2,"Outer"]'>Outer</td>
<td data-sheets-value="[null,3,null,0.049]" data-sheets-numberformat='[null,3,"0.0%",1]'>4.9%</td>
<td data-sheets-value="[null,3,null,280]" data-sheets-numberformat='[null,4,"\"$\"#,##0",1]'>$280</td>
<td data-sheets-value="[null,3,null,351000]" data-sheets-numberformat='[null,4,"\"$\"#,##0",1]'>$351,000</td>
</tr>
<tr>
<td data-sheets-value='[null,2,"Metro"]'>Metro</td>
<td data-sheets-value="[null,3,null,0.042]" data-sheets-numberformat='[null,3,"0.0%",1]'>4.2%</td>
<td data-sheets-value="[null,3,null,395]" data-sheets-numberformat='[null,4,"\"$\"#,##0",1]'>$395</td>
<td data-sheets-value="[null,3,null,487000]" data-sheets-numberformat='[null,4,"\"$\"#,##0",1]'>$487,000</td>
</tr>
<tr>
<td data-sheets-value='[null,2,"Regional"]'>Regional</td>
<td data-sheets-value="[null,3,null,0.052]" data-sheets-numberformat='[null,3,"0.0%",1]'>5.2%</td>
<td data-sheets-value="[null,3,null,240]" data-sheets-numberformat='[null,4,"\"$\"#,##0",1]'>$240</td>
<td data-sheets-value="[null,3,null,240000]" data-sheets-numberformat='[null,4,"\"$\"#,##0",1]'>$240,000</td>
</tr>
</tbody>
</table>
Yields for three bedroom units.
<table dir="ltr" border="1" cellspacing="0" cellpadding="0">
<colgroup>
<col width="152">
<col width="152">
<col width="156">
<col width="159">
</colgroup>
<tbody>
<tr>
<td data-sheets-value='[null,2,"Region "]'>Region </td>
<td data-sheets-value='[null,2,"Gross Rental Yield"]'>Gross Rental Yield</td>
<td data-sheets-value='[null,2,"Median Rent"]'>Median Rent</td>
<td data-sheets-value='[null,2,"Median Price"]'>Median Price</td>
</tr>
<tr>
<td data-sheets-value='[null,2,"Inner"]'>Inner</td>
<td data-sheets-value="[null,3,null,0.038]" data-sheets-numberformat='[null,3,"0.0%",1]'>3.8%</td>
<td data-sheets-value="[null,3,null,600]" data-sheets-numberformat='[null,4,"\"$\"#,##0",1]'>$600</td>
<td data-sheets-value="[null,3,null,831000]" data-sheets-numberformat='[null,4,"\"$\"#,##0",1]'>$831,000</td>
</tr>
<tr>
<td data-sheets-value='[null,2,"Middle"]'>Middle</td>
<td data-sheets-value="[null,3,null,0.035]" data-sheets-numberformat='[null,3,"0.0%",1]'>3.5%</td>
<td data-sheets-value="[null,3,null,442]" data-sheets-numberformat='[null,4,"\"$\"#,##0",1]'>$442</td>
<td data-sheets-value="[null,3,null,651000]" data-sheets-numberformat='[null,4,"\"$\"#,##0",1]'>$651,000</td>
</tr>
<tr>
<td data-sheets-value='[null,2,"Outer"]'>Outer</td>
<td data-sheets-value="[null,3,null,0.042]" data-sheets-numberformat='[null,3,"0.0%",1]'>4.2%</td>
<td data-sheets-value="[null,3,null,352]" data-sheets-numberformat='[null,4,"\"$\"#,##0",1]'>$352</td>
<td data-sheets-value="[null,3,null,440000]" data-sheets-numberformat='[null,4,"\"$\"#,##0",1]'>$440,000</td>
</tr>
<tr>
<td data-sheets-value='[null,2,"Metro"]'>Metro</td>
<td data-sheets-value="[null,3,null,0.038]" data-sheets-numberformat='[null,3,"0.0%",1]'>3.8%</td>
<td data-sheets-value="[null,3,null,460]" data-sheets-numberformat='[null,4,"\"$\"#,##0",1]'>$460</td>
<td data-sheets-value="[null,3,null,635000]" data-sheets-numberformat='[null,4,"\"$\"#,##0",1]'>$635,000</td>
</tr>
<tr>
<td data-sheets-value='[null,2,"Regional"]'>Regional</td>
<td data-sheets-value="[null,3,null,0.049]" data-sheets-numberformat='[null,3,"0.0%",1]'>4.9%</td>
<td data-sheets-value="[null,3,null,310]" data-sheets-numberformat='[null,4,"\"$\"#,##0",1]'>$310</td>
<td data-sheets-value="[null,3,null,329000]" data-sheets-numberformat='[null,4,"\"$\"#,##0",1]'>$329,000 
</td>
</tr>
</tbody>
</table>
 
The REIV has also <a href="/expert-insights/buying/melbourne-residential-house-investors-yielding-from-2-6-reiv">released tables on house yields</a>. 
 
 
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