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.

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The design report describes the project as part of the broader transition of Wickham into “a vibrant, high-quality mixed-use urban precinct” that leverages proximity to the station, open space, and regional connectivity.

A detailed public art strategy has also been prepared for the development. The strategy positions the project as “a transit-oriented development of state significance at the gateway to Newcastle’s city centre” and outlines a series of integrated artworks responding to Newcastle’s industrial and transport heritage.

Creative Road’s curatorial framework for the project, titled Unveil, draws on “stratified surfaces, carved volumes, and light-filled apertures” while referencing Newcastle’s transformation from an industrial city into a contemporary education and technology hub.

<img alt="First look: Urban Property Group unveils Newcastle’s next supertower at Wickham interchange" data-entity-type="file" data-entity-uuid="77a882bb-14b1-4d28-99ff-9438e39508c0" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/wickham%20site.png?VersionId=cevgo_vN0eKPK78P8YcEu3mKPLkpFqE7" />

The proposal is being advanced through the NSW Housing Delivery Authority pathway after being declared State Significant Development in June 2025. The accompanying scoping report states the development aims to “maximise the site’s proximity to the Newcastle Interchange by delivering transit-oriented development” while increasing housing supply and affordable housing provision within the Newcastle LGA.

Urban Property Group’s plans align with the long-term strategic vision established under the Wickham Master Plan, which identified the interchange precinct as suitable for substantial uplift in height and density. The current proposal would significantly intensify that vision, positioning the tower among the tallest developments proposed for Newcastle.

The site sits immediately north of the Newcastle Interchange, bounded by Dangar Street, Hannell Street, and Charles Street. It is surrounded by a rapidly growing cluster of residential towers and mixed-use projects that have emerged following the completion of the light rail and transport interchange.

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

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

Bottega House secures landmark riverfront site in St Lucia 

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

Melbourne

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A former Clifton Hill shoe factory, converted by award-winning architect Suzanne Dance with later design by Techne Architects, was sold at $1.63 million at weekend auction.
It features two living zones separated by garden oasis with decking at 63 Dally Street.
<img src="https://i1.au.reastatic.net/456x342/f23f8d8124aaf7b46cd1123de28e13182b4923c952d236304b55b8b4ac1e3689/main.jpg" alt="63 Dally Street, Clifton Hill" title="63 Dally Street, Clifton Hill" data-index="0">
There is the main bedroom/retreat plus three further bedrooms, loft study, three bathrooms, large laundry and a ROW-access garage/workshop with cellar on its 280 square metre block.
<a href="https://www.realestateview.com.au/Real-Estate/63-dally-street-clifton-hill/Property-Details-buy-residential-8767112" target="_blank">Nelson Alexander</a> were saying $1.45 million to $1.6 million.
It last sold in 2008 at $1.2 million.
 
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jchancellor-FAypfDUnLy

Clifton Hill shoe factory conversion sold

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GUEST OBSERVER 
The outer west remains one of Melbourne’s most affordable pockets to buy property. And with interest rates at record lows, we have seen many buyers dip their toes into the market this autumn.
The reduction of the cash rate by the Reserve Bank often impacts the price-sensitive segments of the market, and this has certainly been the case in Melbourne’s west.
While renting has traditionally been the norm in Melton, residents are now considering entering the market for the first time. The median house price across Melbourne sits at $688,000, but in Melton you can still get a three bedroom family home for a median house price of <a href="https://www.hockingstuart.com.au/recentlysold/26_BARRIES_ROAD_MELTON_VIC_3337_SOLD" target="_blank">$226,000</a>.
As such, young families and couples renting a large family home are realising mortgage repayments in the current economic climate is similar to that of weekly rental payments.
That’s why this quarter we’ve seen a flurry of activity from the younger, family orientated segment of the market who now realise that the Great Australian Dream might actually be in reach.
The affordability factor is no doubt drawing people from greater Melbourne to the outer west. In fact, <a href="https://www.melton.vic.gov.au/Council/About_the_City/Demographics/Growth_Statistics" target="_blank">City of Melton statistics</a> show that between 2001 and 2014 the estimated residential population of Melton more than doubled, and in 2013, the region had the fifth fastest population growth in Victoria (4.3%).
Population projections also indicate that Melton’s population will be more than 315,908 by 2036, which is almost the size of our nation’s capital Canberra. If Melbourne’s house prices grow as much as they did in the first quarter of this year (11.1%), then we expect to see a rise in demand for the outer suburbs where buyers can have space and value for money.
Another drawcard for families relocating to the west is the vast improvements to amenities and infrastructure in the area. For instance, the Council of Melton has recently completed new state of the art five-green-star accredited library and learning facility, as well as the Taylors Hill Youth and Community Centre.
The likes of Palmerston Street, Brooklyn road and Greigs Road are also undergoing refurbishments to ease traffic in the area. The countless number of amenities and infrastructure improvements make Melton a more desirable place for families to live in. 
The perfect combination of population growth, improvements to infrastructure, good borrowing conditions, low vacancy rates and low median house prices have also attracted savvy investors to Melton. Vacancy rates are notably low in Melton – sitting around 2.2%.
Investors therefore are privy to a low risk investment with low upfront capital. And if the rental returns are good enough, some can even positively gear their investment.
The Reserve Bank just cut interest rates to a record low of two per cent, and this will continue to drive interest into the outer west from first home buyers and young families. We will even start to see the dial quickly shift from renters to buyers in suburbs like Melton as these savvy buyers realise the benefits the area brings.
Julian Conte is director of hockingstuart Melton. He can be contacted <a href="https://www.hockingstuart.com.au/?pagecall=staffMember&amp;staffID=96340" target="_blank">here</a>.
 
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Affordability is driving a strong property market in Melbourne’s outer west: hockingstuart Melton

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The University of Melbourne sold a triplex apartment block in Carlton for $4.7 million at weekend auction.
<a href="https://www.realestateview.com.au/Real-Estate/419-423-cardigan-street-carlton/Property-Details-sold-residential-8722102" target="_blank">The 419-423 Cardigan Street holding</a> had 15 bedrooms across three apartments.
Woodards secured the sale of the 580 square metre holding. 
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<div class="thumb activeThumb">It was offered as a potential development site.</div>
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Carlton triplex sold by University of Melbourne

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Three Melbourne hospitality premises leased by chef George Calombaris have been listed for sale by his landlord and business parter, George Sykiois.
They host Calombaris’ restaurants Gazi, The Press Club and The Press Club Projects.
Located at 2 Exhibition Street and 52 &amp; 72 Flinders Street, the sale comprises three titles on one long term lease to Calombaris' flagship businesses, under the Made Establishment banner.
There are reported expectations of around $9 million.
Mr Calombaris' popular restaurants are returning about $420,000 net annual rent.
The move has come not long after Calombaris engaged March Studios to undertake a $3 million refurbishment of the three tenancies.
The expressions of interest process closes June 25.
CBRE in conjunction with Fitzroys have secured early interest already been from private owners in the area as well as syndicates of doctors and lawyers looking to place their funds into a secure long term investment.
 
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The Press Club and Gazi premises for sale

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Offers close today on the grand gothic mansion at 100 Walsh Street, South Yarra which has hefty price expectations. 
When <a href="https://www.domain.com.au/for-sale/100-walsh-street-south-yarra-vic-3141-2011939963" target="_blank">Wavendon </a>came on to the market in April through Kay &amp; Burton managing director Michael Gibson, it came with reported $24 million record setting prospects.
Not from Gibson, but rather industry sources. Indeed Gibson has been running a very low key campaign with just the one photo in its public marketing campaign. here were more pics on <a href="https://www.100walshstreet.com" target="_blank">www.100walshstreet.com</a>, but you needed to register to get access.
"It could nudge Melbourne's benchmark," the Age none-the-less reported, not for the first time on trophy home offerings ever since the Toorak sale to the Stamoulis family in 2010.
It has been listed by businessman Greg Hargrave. 
It’s suggested the land at 100 Walsh St was first occupied in 1845 by Baron von Mueller, the German-Australian physician and botanist who designed the nearby Royal Botanic Gardens.
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The five bedroom 1888 mansion is surrounded by lush subtropical gardens, with a tennis court and a pool.
The property has been home to movie director Fred Schepisi, former CRA Ltd managing director Sir Roderick Carnegie, businessman Robert Kirby and the golfing legend Peter Thomson.
Businessman Greg Hargrave, of the Skilled Group, bought the tri-level Walsh Street home from Schepisi in November 2006 for $11,250,000 in an off-market deal.
Its subsequent contemporary renovation was undertaken by the designer Don McQualter, of Sydney-based firm Meacham Nockles McQualter.
 
{mijopolls112}
 
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Time ripe for record South Yarra Walsh Street's Wavendon

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The exotic Edwardian Middle Park home at 156 Page Street had expectations of more than $3.3 million, but was passed in on a vendor’s bid of $3.4 million at weekend auction.
Title Tattle loves the front yard symmetry, but of course it is the knockout contemporary extension that could be expected to attract the buying interest. 
Though the weekend result was the second time it failed to sell, as back in 2013 the $3.55 million desired sale didn't ever happen.
Auctioneer Greg Hocking of Greg Hocking Holdsworth advised there had been three parties interested in <a href="https://www.realestate.com.au/property-house-vic-middle+park-119643335" target="_blank">the four-bedroom Edwardian</a> with contemporary rear extension on its 344 square metre holding.
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It was marketed as a home from two eras, with significantly extended spaces including a flexible formal living room/fourth bedroom, refined formal dining and superb living/dining areas featuring oak parquetry and a beautifully equipped open plan kitchen.
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Middle Park two eras home doesn't find auction buyer yet again

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Melbourne's weekend clearance rate of 82 per cent was well up on the 77 per cent last weekend and 71 per cent this weekend last year.
There were 925 auctions reported to the REIV, with Enzo Raimondo the CEO REIV noting 137 sold before.
Some 78 were passed in on a vendor's bid.
The Melbourne rate appears to be strengthening in auction success while Sydney appears to be weakening after its recent sustained peak, suggesting a baton change is nigh.
There was a $710 million Melbourne sales tally from the auctions with a $920,000 median house price and a $630,000 median apartment price.
The REIV reported the clearance as 86% for houses and 76% for aparments.
The top sale was an East Brighton mansion listed through hockingstuart Brighton marketed as blending spectacular indulgence with high tech edge.
The agents suggest it was bringing Boston Brownstone architecture to the bayside suburb over three levels with four bedrooms and four bathrooms.
The bespoke kitchen comes with fish tank, butlers pantry along with grand entry with Graham Geddes oak doors. 
There is an expansive six car basement garage at<a href="https://www.hockingstuart.com.au/46_CANBERRA_GROVE_BRIGHTON_EAST_VIC_3187" target="_blank" style="line-height: 1.3em;"> 46 Canberra Grove</a>.
It also has a “man cave” with surround sound, a games area, a gymnasium, bar and full kitchen.
The trophy home had been listed with $3.7 million plus hopes, and was sold at $4.01 million, having been passed in at $3.7 million.
Port Melbourne was Melbourne’s most popular suburb this weekend with 22 auctions followed by Richmond with 18, Brighton East 17, and South Yarra and Reservoir each with 16.
The cheapest sale at St Albans had been listed with adjusted $255,000 plus hopes -<a href="https://www.realestateview.com.au/Real-Estate/4-dumosa-court-st-albans/Property-Details-buy-residential-8696710" target="_blank"> two</a><a href="https://www.realestateview.com.au/Real-Estate/4-dumosa-court-st-albans/Property-Details-buy-residential-8696710" target="_blank"> bedrooms</a> - through Barry Plant agents Alex (Chau) Tran and Quyen Tran, but sold for a tad under. It last sold at $32,000 in 1991.<a href="https://www.realestateview.com.au/Real-Estate/4-dumosa-court-st-albans/Property-Details-buy-residential-8696710"> </a>
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REIV TOP 5 HOUSES
1. 46 Canberra Grove, Brighton East $4,010,000 2. 1 Russell Street, Toorak $3,960,000 3. 27 Donna Buang Street, Camberwell $3,370,000 4. 82 Maud Street, Balwyn North $3,083,000 5. 1 Pleasant View Crescent, Wheelers Hill $2,900,888 
REIV TOP 5 BARGAIN HOUSES 1. 4 Dumosa Court, St Albans $247,500 2. 17 Brighton Place, Craigieburn $295,000 3. 1 Moorhen Crescent, Carrum Downs $304,000 4. 1 Mitre Crescent, Frankston North $308,000 5. 43 Trafalgar Street, Albanvale $317,000
REIV TOP 5 APARTMENTS 1. 1001/115 Beach Street, Port Melbourne $2,350,000 2. 114/350 St Kilda Road, Melbourne $2,100,000 3. 2/29 Park Street, South Yarra $1,530,000 4. 4/55-57 Manningtree Road, Hawthorn $1,508,000 5. 9 Tregenna Court, Brighton East $1,420,000 
REIV TOP 5 BARGAIN APARTMENTS 1. 8/35 Stud Road, Dandenong $210,000 2. 2/66 Dundas Street, Thornbury $247,000 3. 7/210 Clarke Street, Northcote $270,000 4. 2/2 May Street, Altona North $280,000 5. 8/9 Murrumbeena Road, Murrumbeena $285,000
Source <a href="https://www.reiv.com.au/Property-Research" target="_blank">REIV</a>
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Melbourne weekend auctions head higher to 82% with Brighton brownstone the top seller

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The historic Newspaper House, at 247 Collins Street, Melbourne has been sold at around $23 million, with the $12,000 a square metre a new record for Collins Street.
It comes with mosaic mural on its front facade designed by Napier Waller in 1932.
Mervyn Napier Waller's "I'll put a girdle about the earth" features heroic human figures appear among scenes of commerce, construction and communication.
There's lots of gold, an echo of the Byzantine era, in the 1933 commission by Sir Keith Murdoch from the Herald &amp; Weekly Times who needed more than their empire on Flinders Street.
<img class="img-responsive" src="/images/2015/05/08/700_mural.jpg" alt="Newspaper House, Collins Street under offer">
<div class="row article-content">It was the former WH Rocke Ltd building on a 478 square metre holding.</div>
There had been around 12 expressions of interest <a href="/expert-insights/investing/newspaper-house-collins-street-under-offer">before it went under offer through CBRE last month</a>.
Eu Ming Lim, of Thomson Geer solicitors, represented the purchaser from Singapore, who told the Australian Financial Review his client was considering both leasing and subdivision plans for the building.
<a href="https://www.realcommercial.com.au/property-retail-vic-melbourne-501464323" target="_blank">Set near Swanston Street with a 2084 square metre floor area</a>, it was marketed as an irreplaceable seven level sandstone retail and office building, fully refurnished and upgraded.
Agents suggested it was a genuine “blank canvas” providing strategic opportunity for multi-level retail and/or residential/hotel conversion.
In 2010 Savills Australia had brokered a five-year lease deal for 250 square metres to Nespresso, who have now departed.
Its latest sale price has not been revealed but the former Herald and Weekly Times building sold for $11.08 million to a private investor, Melbourne horse-racing identity Ken Biddick in 2006 through Knight Frank, fully leased for $403,600 a year, reflecting a yield of 3.6%.
The then vendor, Desmond Oppenheimer had bought the building for $7.55 million in 2002.
The ground floor of 247 Collins Street had been previously leased to the House of Cashmere, and the upper levels to Sydney International College.  
HIDDEN TREASURES OF NAPIER WALLER
1926-27 MURALS Melbourne Town Hall, Swanston Street.
1927 MURAL Menzies Hotel, cnr Bourke and William streets (building demolished in 1969, mural sold privately).
1928 MURAL Better Than to Squander Life's Gifts Is to Conserve Them and Ensure a Fearless Future T&amp;G Life Building entry foyer, cnr Collins and Russell streets.
1928 MURAL Peace After Victory State Library of Victoria, first-floor landing near La Trobe Reading Room, cnr, Swanston and La Trobe street.
1933 MOSAIC I'll Put a Girdle Round the Earth Newspaper House facade, 247 Collins Street.
1934 FLORENTINE MURALS Florentino Restaurant, now Grossi Florentino, first floor, 80 Bourke Street.
1935 STAINED GLASS WINDOW Wesley Church, Pioneers window, upper gallery, north wall, 148 Lonsdale Street.
1935 STAINED GLASS WINDOW Ian Potter Museum foyer, Swanston Street on university campus. (Designed for Wilson Hall, University of Melbourne, which was destroyed by fire in 1951. Window was retrieved from the ruins.)
1935 MUIRALS Myer Melbourne Mural Hall dining room, sixth floor, 314 Bourke Street.
1937 STAINED GLASS Orchid Window University of Melbourne Botany School.
1940 MURAL Australian Symbolic Figures University of Melbourne Achitecture, Building and Planning Library (Orginally on display at Royal Insurance Company, 414-418 Collins Street, but donated to university after building was demolished in 1969.)
1963 MOSAIC The Eight Aboriginal Tribal Headmen Temple Court foyer, 422 Collins Street.
1967 MOSAIC Prometheus Monash House foyer, 15 William Street.
List Source: Fairfax Media
 
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Newspaper House, Collins Street sold to subdividing Singaporean investor

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It was inevitable that Sydney would run out of puff eventually and the most likely time for it to happen was in the third year of price growth – which means some time this year. It’s rare for major markets to sustain a boom for any longer than that.
I’ve just finished the research for the latest edition of The Price Predictor Index, examining market activity in suburbs and towns across the nation, and it indicates Sydney has begun a gradual fade. 
The number of suburbs with rising sales activity has dropped and the number of what we call “consistency markets” has risen. This is because suburbs that previously had growing sales volumes have now tapered off at those higher levels or have dropped a little below the peak.
It provides quite a stark contrast with Melbourne. It’s clear from the research that Melbourne is out-pointing Sydney on sales activity, if not on price growth. 
Melbourne now has almost double the number of growth suburbs as Sydney. Melbourne has 134 suburbs classified as rising markets, compared to 72 in Sydney.
As further evidence of the Sydney fade, regional New South Wales now has (slightly) more growth suburbs than does Sydney.
Melbourne continues to produce upwardly-mobile markets across the metro area. According to our ranking system, it has seven Rising Fast, 127 Rising Steadily and 100 Consistency markets, which is an improvement on the results three months ago and represents a general strengthening of the Melbourne residential sector.
Two things stand out in the latest analysis: “middle Melbourne” is still strong and new areas are emerging with strong markets, especially locations on the outskirts of the metropolitan area.
The Whitehorse LGA, east of the Melbourne CBD, remains the No.1 precinct. It has more suburbs with forward momentum than any other precinct in the city. Whitehorse includes Nunawading (median price $700,000), Burwood East ($800,000) and Blackburn South ($800,000). 
Other middle market area of prominence include Monash City, where Mt Waverley ($960,000), the Oakleigh suburbs (around $750,000) and Chadstone ($805,000) are doing well, and the Kingston LGA, which includes Cheltenham ($695,000) and Parkdale ($750,000).
But increasingly, strong markets are popping up on the periphery of Greater Melbourne. The charge is being led by the Frankston and Mornington Peninsula LGAs in the far south: Frankston has eight ranked suburbs and the Mornington Peninsula has 13. Rosebud sales have risen from 117 to 134 to 175 per quarter, while Rye has improved from 91 to 120 to 155.
The Casey LGA in the south-east has two Rising Fast suburbs, five that are Rising Steadily and seven that are ranked as Consistency markets. 
Whittlesea in the north remains a serious contender: it has two Rising Fast suburbs and four Rising Steadily markets. Epping sales have been 77, 113, 107 and 130 in the past four quarters. Also in the affordable north, the Hume LGA is a new challenger, with six Rising Steadily markets, including Roxburgh Park ($400,000) and Westmeadows ($415,000). 
The Brimbank LGA in the western suburbs is a regular standout. It has now has nine Rising Steadily suburbs and six Consistency markets, a marked improvement on three months ago. Wyndham City in the far south-west is another of the big improvers. And Yarra Ranges in the far eastern suburbs, which has not featured previously, now has eight ranked suburbs.
Upmarket areas such as the Boroondara LGA (including Balwyn and Kew and the Glen Eira LGA )  (including Caulfield North and Bentleigh East) feature, each with six or seven growth markets, but most of the standouts are middle market and bottom end suburbs.
TERRY RYDER is the founder of <a href="https://www.hotspotting.com.au/" target="_blank">hotspotting.com.au</a>. You can <a href="https://mailto:ryder@hotspotting.com.au" target="_blank">email him</a> or follow him on <a href="https://twitter.com/hotspotting" target="_blank">Twitter.</a>
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terryryder-YECXbqmri2

Inevitable Sydney would run out of puff: Terry Ryder

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A US investor is undertaking due diligence on the T&amp;G Building at 161 Collins Street, Melbourne.
The US property giant Pembroke Real Estate is reportedly eyeing the 12-storey office tower at the Paris end of Collins Street.
The property is expected to fetch about $250 million.
It is being sold by Germany-based SachsenFonds, which acquired the building's leasehold in 2006.
The Liberman family's JGL Investments owns the freehold of the property previously known as KPMG House, but in 2013 KPMG agreed to shift 30,000 square metre into Lang Walker’s Collins Square development in Docklands..
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The 99-year leasehold expires in 2105 for the landmark site built in the 1930s, with SachsenFonds paying $258 million for the control of the leasehold in 2006.
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Indonesia’s Halim Group is marketing a $40 million ­heritage office building at 425 Collins Street.
The 5,350 square metre building, formally known as AMP House, is located at the corner of Market Street
The building is being offered for sale through CBRE with an annual passing income of circa $2 million, derived from a range of tenants, including law firm Wisewould Mahony. 
On a fully leased basis the property is forecast to generate annual income of $2.3 million.
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