<a href="https://www.apartments.com.au/developers/sunland-group">Sunland Group</a> has officially lodged plans for its first Gold Coast apartment project since the departure of the Abedian family from the company three years ago, unveiling a new high-rise proposal for a prominent Broadbeach corner site on Old Burleigh Road.

The application was submitted by an entity directed by Tom Jamieson, stepson of longtime Sunland leader Soheil Abedian, and Riaz Rezvanipour, brother-in-law of Sahba Abedian, Soheil’s son.

Sunland acquired the 1,283 sqm site on the corner of Old Burleigh Road and Armrick Avenue for $9.5 million late last year and is now seeking approval for a <a href="https://www.apartments.com.au/new-apartments/99-101-old-burleigh-road-broadbeach-qld-4218">42-storey tower with 81 apartments</a>.

<img alt="First look: Sunland Group returns to Broadbeach with new Old Burleigh Road tower plans" data-entity-type="file" data-entity-uuid="fea2946d-90ee-4cfc-babe-2a8ad5db2cb6" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/pers.png?VersionId=BV0fihJw31nDIQ8ozY_h3GbS8mxDyhnm" />

Designed by <a href="https://www.apartments.com.au/architects/contreras-earl-architecture">Contreras Earl Architecture</a>, the proposed tower at 99-101 Old Burleigh Road would deliver a predominantly larger-format apartment mix aimed at the owner-occupier market. Plans include 17 two-bedroom apartments, 55 three-bedroom apartments, and nine four-bedroom residences across 35 residential levels.

The development also incorporates three basement levels, four podium parking levels, two levels of communal recreation facilities, and rooftop plant and equipment. A total of 189 car spaces are proposed, significantly exceeding the 90 spaces required under the planning scheme.

The architecture adopts a sculpted, curvilinear form, with deep wraparound balconies and integrated landscaping intended to soften the tower’s vertical expression. The planning report states the building’s “slender footprint/form provides a complimentary yet varied built form within the local streetscape” and contributes to “a varied, yet ordered skyline.”

Contreras Earl noted in its Architectural Statement that from the early stages, the project addressed a fundamental challenge: how to accommodate the required residential yield while avoiding the conventional model of a tower sitting on a rigid, fully resolved parking podium.

“The most direct response would have been to consolidate parking into a singular, flat podium and extrude a repetitive tower above,” the statement said. “While efficient, this approach would result in a consolidated built form with limited engagement with the surrounding landscape and public realm.”

Instead, the conventional podium model was “deliberately rejected”. The architects described the base of the building as “a landscaped architectural condition where structure, planting and circulation are integrated”.

“Rather than presenting a continuous built mass, the base of the building is articulated through a series of concrete planter elements that organise the podium into a fragmented system,” the statement said. “This approach reduces the perceived bulk of the lower levels while establishing a more permeable interface with the streetscape and adjacent open space.”

<img alt="Sunland" data-entity-type="file" data-entity-uuid="923fad8d-c960-4527-8fbe-975cf1ddf88d" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-05-25%20at%2010.32.03%E2%80%AFAM.png?VersionId=pngwb0hYOIUpq9vDw6F2EsOiVuHF3DiX" />

&nbsp;

The site sits within the High Density Residential Zone and inside the City of Gold Coast’s unrestricted “HX” building height area, where the planning framework anticipates intensified residential development tied to the expanding light rail corridor. The planning report notes the area is undergoing “transition toward more intense development forms” given its proximity to Broadbeach, Surfers Paradise, and high-frequency public transport infrastructure.

Positioned directly opposite Broadbeach Park and within walking distance of Florida Gardens light rail station, the development would sit among a rapidly evolving stretch of Old Burleigh Road that has become one of the Gold Coast’s most active apartment development corridors.

The application joins a growing pipeline of luxury residential projects reshaping Broadbeach, including nearby developments by 5Point Projects, Polycell, and Graya.

The planning report argues the project contributes toward the Gold Coast’s long-term housing targets under the South East Queensland Regional Plan, which forecasts the need for more than 100,000 additional high-rise dwellings across the city by 2046.

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The Abedian family departed Sunland Group in late 2023, ending a four-decade association with the company, and subsequently established the private development firm Abedian &amp; Co. The group is currently delivering <a href="https://www.apartments.com.au/new-apartments/greenmount-residences-cnr-hill-street-and-marine-parade-coolangatta-qld-4225">Greenmount Residences</a> at Rainbow Bay and recently launched <a href="https://www.apartments.com.au/new-apartments/18-mary-avenue-14-18-mary-avenue-broadbeach-qld-4218">18 Mary Avenue</a> in Broadbeach.
</section>

Joel Robinson

First look: Sunland Group returns to Broadbeach new apartment market with new Old Burleigh Road tower plans

The Minns Labor Government has established the new Bays West Delivery Authority to lead the development&nbsp;of the Bays West Precinct and Blackwattle Bay Precinct.&nbsp;

The Authority is charged with creating Sydney’s newest precinct, a thriving, connected, sustainable hub with White Bay Power Station as its cultural heart. Its vision is to build on the area’s natural, cultural and industrial history to shape a vibrant new neighbourhood.

The precinct will deliver up to 8,500 well-located homes, including a minimum of 10 per cent affordable and essential worker homes. Combine new housing with public open space, opening public access to the waterfront for the first time in more than 100 years, while retaining important deep-water facilities to support Sydney’s working harbour.

Located just minutes from the Sydney CBD and connected to a world-class metro, ferry, walking and cycling links, the Bays West precinct will rebalance housing growth towards well-serviced inner-city locations and help tackle the state’s housing crisis.

The Bays West Delivery Authority,&nbsp;an agency of the Department of Planning, Housing and Infrastructure, will report to the NSW Minister for Lands and Property who already has oversight of major precinct renewal projects including at Blackwattle Bay and Barangaroo.

As part of the broader Bays West transformation, the Minns Government recently announced that a proposal from Lendlease to redevelop part of the Bays West Precinct has progressed to Stage 2 of the NSW Government’s unsolicited proposals process.

<img alt="Sydney" data-entity-type="file" data-entity-uuid="2ed71eb9-d8e8-4fa7-b9d1-de4531dcf2f3" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-05-25%20at%209.42.31%E2%80%AFAM.png?VersionId=IDryFIbped9SNDg72LEN_EecvhUsOPvp" />

The Minns Labor Government has also confirmed the Bays West precinct will have a new suburb name. This will be the first major suburb built in close proximity to Sydney’s CBD in decades and will encompass the area currently being referred to as Bays West, including Glebe Island and the White Bay Power Station. Served by a new Metro station just five minutes from the CBD, it will become one of the most populous suburbs in the Inner West and one of Sydney’s premier cultural destinations.

An early works program is taking shape, which&nbsp;includes the first stages of an international design competition.&nbsp;

The aim of the Bays West&nbsp;International&nbsp;Design Competition is to&nbsp;ensure design excellence is embedded in the project from the start. The competition will deliver an&nbsp;urban framework that defines the character, ambition and long-term identity of&nbsp;this&nbsp;former industrial precinct as it transitions to a vibrant, inclusive and sustainable residential&nbsp;neighbourhood.

The competition will be led by the Bays West Delivery Authority in partnership with Government Architect NSW.&nbsp;

It will launch with an invitation for a global Expressions of Interest, before moving to an invitation-only stage that will be assessed by a panel that&nbsp;will provide advice to Cabinet who will select a winner.

Premier of NSW, Chris Minns said the establishment of the new Authority is the first step in transforming the Bays West precinct into a vibrant, livable suburb minutes from the Sydney CBD and two stops from Hunter St Station on the Metro West line.

“The Authority will deliver well-located homes close to the heart of the city and integrate the new precinct with Blackwattle Bay and the new Sydney Fish Market.

“This is a generational opportunity to build a new suburb on the city’s edge and open the harbour foreshore to the public for the first time in a century.”&nbsp;

Minister for Lands and Property Steve Kamper said the new Bays West Delivery Authority established by the Minns Government will turbocharge the development of Sydney’s newest suburb.

“The Authority is working at a record pace to deliver an international design competition, planning pathways and a financial model so that this development benefits Sydney with well-designed homes in a central location, close to public transport, jobs, entertainment and essential services.

“If we want Sydney to stay liveable and affordable, we need to be bold about using underutilised government-owned land to deliver homes for the future while making sure essential working harbour functions can be accommodated.”

Bays West Delivery Authority established to "turbocharge" Sydney’s newest suburb

Around 400 additional homes could be built at Southwark Grounds on Port Road, lifting total site capacity from 1300 to around 1700 dwellings.

A recently approved code amendment would allow apartment towers of up to 14 storeys in some areas of Renewal SA’s redevelopment of the former West End Brewery.

Renewal SA Acting Chief Executive Shane Wingard said he welcomed the code amendment, with the increase in heights and homes making a positive impact on the supply of high-quality, well-connected housing close to the city.

“By going higher across some parts of Southwark Grounds, we are adding a substantial number of very well-located homes with little impact on project delivery time or planned open space,” Mr Wingard said.

Since the project officially launched in 2025, Mr Wingard said more than 12,000 enquiries had been received about living at Southwark Grounds.

“The very strong early interest we’ve seen since homes were first released in the precinct reinforces our plans to create more housing opportunities,” he said.

The Southwark Grounds code amendment was launched in December last year, with community engagement undertaken over five weeks from January.

It proposed increasing maximum building heights from eight to 14 storeys on the eastern section of Southwark Grounds, and to 12 storeys across the remainder of the site, with minimum building heights ranging from two to four storeys.

The code amendment was implemented through an Early Commencement policy in late January, allowing developers to quickly explore the viability of increased height and housing yield while other planning processes continue.

One of the first developers delivering apartment sites have already finalised redesigns to increase the number of apartments following the code amendment.

Samaras’ development adjacent to the future Colonel Light Park is now planning to deliver 125 apartments across 11 storeys, significantly greater than original plans of around 50 apartments across four storeys.

The developer is also exploring the potential for additional affordable housing outcomes.

Most of the apartments at Southwark Grounds will be delivered within a master-planned precinct on a large parcel of land on the eastern portion of the site, covering around two-thirds of its 8.4 hectares.

Wingard said detailed precinct planning over the coming months may identify further opportunities to increase yield further that could see total apartment numbers at Southwark Grounds, exceed this number.

Affordable homes at Southwark Grounds will also see a net increase, with Renewal SA maintaining its commitment to a minimum of 20 per cent affordable housing across the development.

&nbsp;

&nbsp;

Civil works have begun across the site, with construction under way on the first new roads surrounding a townhouse precinct in the south‑west corner of Southwark Grounds. This includes Renewal SA’s 17 Founder’s Row homes, which are on track for completion by Christmas.

“We expect to have people living at Southwark Grounds by the end of the year, so delivering roads and public spaces for those residents is among our highest priorities.”

Construction of 40 townhouses off Anderson Street, known as West Village and being delivered by Contour, is forecast to begin in mid‑2026. Kolabb’s Anderson Lane development will follow shortly after, delivering a further 26 townhouses.

Southwark Grounds is a state government‑led urban renewal project now set to deliver around 1,700 homes over the next decade.

Homes will be supported by a supermarket, a range of retail and hospitality offerings anchored by a revitalised Walkerville Brew Tower, a childcare centre, car parking and well‑connected public spaces.

400 new homes planned for Adelaide's former West End Brewery site

Brisbane developer&nbsp;<a href="https://www.apartments.com.au/developers/cavcorp">Cavcorp</a> has lodged plans for a new mixed-use residential development at <a href="https://www.apartments.com.au/new-apartments/55-wyandra-street-teneriffe-qld-4005">55 Wyandra Street</a>, Teneriffe, anchored by an 85-metre public laneway designed to reconnect the suburb’s riverfront with the Gasworks precinct.

The buildings, known as Teneriffe House and Teneriffe Lane, would replace the existing Queensland Cotton head office site with a 15-storey residential tower transitioning to eight storeys toward Helen Street. The project has been designed by Plazibat Architects and lodged as a code assessable development application for 93 apartments across a 3,401 sqm mixed-use site within the Newstead and Teneriffe Waterfront neighbourhood plan.

Central to the scheme is the transformation of an existing service easement into a publicly accessible cross-block connection linking Wyandra and Helen Streets. Cavcorp says the new laneway will act as both a pedestrian shortcut and a landscaped civic space between the Teneriffe Riverwalk, ferry terminal, and Gasworks precinct.

<img alt="First Look: Cavcorp unveils Teneriffe House and Teneriffe Lane plans for landmark wellness tower in Teneriffe" data-entity-type="file" data-entity-uuid="26e7f058-b065-4de8-b13d-a2b8cb64dfcc" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/bldg.png?VersionId=sELS0ZKYi361oYipUa1BIKfe_.DLZoFV" />

“The revised proposal delivers a legacy public-realm cross-block link, permanently secured for community use, transforming an existing private easement into a safe, high-quality pedestrian connection between the Teneriffe heritage riverwalk and the Gasworks–Long Island precinct,” the planning report states.

The laneway will sit beneath a large subtropical loggia integrated into the podium levels of the development. The design incorporates deep landscaping, water gardens, lobby spaces, business lounges, and ground-floor apartments to create what Cavcorp describes as a climate-responsive “urban verandah.”

The tower itself has been designed as a slender form with recessed floorplates and curved translucent corners inspired by contemporary Japanese architecture. The building height aligns with the Commercial Road precinct controls, which permit towers up to 15 storeys within proximity to Longland Street.

<img alt="First Look: Cavcorp unveils Teneriffe House and Teneriffe Lane plans for landmark wellness tower in Teneriffe" data-entity-type="file" data-entity-uuid="a8a17d40-43b6-4718-b3fd-67676fcbb485" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/pers%202_1.png?VersionId=i3VwDtp5AmL_8InW7w4qRbDFEpb744Jt" />

The project will comprise a mix of larger-format apartments aimed at owner-occupiers, downsizers, and families. The proposed apartment mix includes 11 loggia apartments across the lower levels, 50 four-bedroom Sky-Terrace apartments from levels three to seven, and 32 Sky-Pool Homes occupying the upper tower levels. The Sky-Pool Homes will feature private thermal plunge pools integrated into oversized balconies.

According to the application, the apartments are intended to reinterpret the scale and character of Teneriffe’s woolstore conversions and Queensland homes within a vertical residential format.

“The sky-pool homes build on Cavcorp’s previous projects and introduce a distinct apartment typology to Teneriffe, informed by both local and international precedent and responding to an identified market demand for enhanced safety, space and amenity,” the planning submission notes.

A major focus of the proposal is its five-level wellness and lifestyle offering, extending from the basement through to the rooftop.

Amenities proposed include a rooftop Swim &amp; Racquet Club with a 25-metre Olympic lap pool and tennis court, coworking spaces and libraries, golf simulators, wine storage, concierge facilities, business lounges, pet wash areas, and rooftop longevity-focused wellness spaces with spas, outdoor fitness zones, and landscaped terraces.

<img alt="First Look: Cavcorp unveils Teneriffe House and Teneriffe Lane plans for landmark wellness tower in Teneriffe" data-entity-type="file" data-entity-uuid="944b352c-49b9-4247-a4c6-5967b4b69fda" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/amenity.png?VersionId=Ed_qKjAtMwFT.5gfl3jiA9QwdWxSMsaX" />

All parking will be concealed within basement levels accessed from Wyandra and Helen Streets. Cavcorp says the deep-basement engineering approach allows the entire ground plane to prioritise landscaping, pedestrian movement, and active frontage rather than vehicle infrastructure.

The development continues Cavcorp’s concentration in Newstead and Teneriffe, where the Brisbane developer has delivered a number of apartment projects including Lucent, Le Bain, and Luminare, as well as the Long Island Wellness Precinct nearby. Several of those projects have received national design and architecture awards, including recognition under Brisbane’s “Buildings that Breathe” program.

Cavcorp unveils wellness-focused Teneriffe House and Teneriffe Lane apartment buildings

Focus Group Investments has lodged plans for a new apartment development at <a href="https://www.apartments.com.au/new-apartments/64-70-hanover-street-fitzroy-vic-3065">64–70 Hanover Street</a> in Fitzroy, seeking to utilise the Victorian Government’s recently introduced Great Design Fast Track pathway to accelerate approvals for the project.

The proposal is among the latest developments to emerge through the state-led initiative, which was established to fast-track well-designed residential projects in activity centres and transport-connected inner-city locations. The pathway allows qualifying developments that meet elevated design and housing benchmarks to bypass traditional council planning timeframes and instead be assessed directly by the Department of Transport and Planning.

Designed by SJB, the development will comprise a mix of apartments above activated lower levels, with a strong focus on architectural articulation, landscaping, and communal amenity. The design response seeks to balance the industrial character of Richmond’s former warehouse precincts with a more contemporary residential form.

<img alt="First look: Focus Group Investments taps Victoria’s Great Design Fast Track for Richmond apartments" data-entity-type="file" data-entity-uuid="abea51cc-d85b-479e-9aef-a589f3b37ca7" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/ground.png?VersionId=e1Kf8EyPWwyiVumtqQ4rM5S4GpOR3CCz" />

Proposed are 63 new dwellings, a wide ranging mix of studio, one-, two-, and three-bedroom apartments, and townhouses and duplexes. They will be spread across a part-three, part-eight storey building.

The Planning and Urban Context Report by Tract says the development is of an "exemplary architectural standard" and has been carefully crafted by SJB Architects.

"Dwellings&nbsp;will benefit from excellent access to natural light, cross-ventilation opportunities and extensive communal space," the report noted.

The architectural material highlights the project’s integration of landscaped elements and communal spaces throughout the building. The proposal also incorporates sustainability initiatives aligned with the Victorian Government’s push for higher-performing apartment developments under the fast-track program.

The Great Design Fast Track was unveiled by the Victorian Government in 2024 as part of a broader housing supply strategy aimed at accelerating the delivery of new homes. Projects assessed through the pathway must demonstrate high-quality architecture, sustainability outcomes, and housing diversity while being located close to public transport and existing infrastructure.

<img alt="First look: Focus Group Investments taps Victoria’s Great Design Fast Track for Richmond apartments" data-entity-type="file" data-entity-uuid="afdbe834-8dc4-4a77-a943-ba07bc927348" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/site_11.png?VersionId=0J657j.TaChAZfp93wqJYBTqSsnREJx2" />

Focus Group, founder and led by Paul De Lutiis, is increasingly active across Melbourne’s inner suburbs, targeting well-connected urban renewal locations suited to medium and higher-density residential development. The Fitzroy proposal continues that strategy, leveraging the area’s strong transport links, established retail amenity, and proximity to the CBD.

Fitzroy has been one of the most popular spots for developers and buyers in recent years. The likes of PACE Development Group, SMA Projects, Crema Group and Chapter Group, currently selling projects in the suburb.

First look: Focus Group Investments taps Victoria’s Great Design Fast Track for Fitzroy apartments

Melbourne

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Melbourne house prices will decline by just 1% in 2019 after a 9% fall in 2018, according to the latest Domain forecasts.
They also forecast that Melbourne house prices will rise by about 4% in 2020. 
Domain Economist Trent Wilshire said: "Melbourne house prices are predicted to fall by about 11% from a peak of $910,000 in December 2017 to their lowest point of about $800,000 in mid-2019."
"At this low point, Melbourne house prices will be back at their late 2016 level."
<img src="https://www.urban.com.au/images/2018/11/29/Melbourne%20Domain%201.JPG" alt="">
 
Source: Domain
Domain has forecast that Melbourne unit prices are to fall by about 1-2% in 2018, and then prices are expected to grow by about 1% in 2019 and 2020.
Melbourne unit prices are predicted to fall by about 3% from their peak of $507,000 in March 2017 to their lowest point of about $490,000.
<img src="https://www.urban.com.au/images/2018/11/29/Melbourne%20Domain%202.JPG" alt="">
 
Source: Domain 
"As in other capitals, tighter lending conditions and weak sentiment will weigh on Melbourne property prices in 2019," Wiltshire said. 
"But Victoria’s unemployment rate is falling and Melbourne’s population growth is expected to remain very strong, with annual growth remaining above 2% over the next few years."
"This will help to absorb the large pipeline of new housing supply expected to hit the market over the next couple of years."
Click <a href="https://www.propertyobserver.com.au/images/2018/11/30/Domain%20forecasts%201.JPG" target="_blank">here</a> to enlarge.
<img src="https://www.urban.com.au/images/2018/11/30/Domain%20forecasts%201.JPG" alt="">
Click <a href="https://www.propertyobserver.com.au/images/2018/11/30/Domain%20forecasts%202.JPG" target="_blank">here</a> to enlarge.
<img src="https://www.urban.com.au/images/2018/11/30/Domain%20forecasts%202.JPG" alt="">
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j.ballantyne1990-6AQqhLzZaK

Melbourne house prices will slip only 1% in 2019: Domain

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A private Melbourne investor has put a portfolio of five strip retail properties, across the suburbs of Richmond, Malvern, Armadale and Hampton, on market including a large High Street corner block.
Located at 1276 High St, Armadale (pictured below), the property comes with a lease expiring in 2022 with two, five year options at $98,711 per annum net. 
The auction is set for December 13.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2018/11/26/1276%20High%20St.jpg" alt=""> 
Michael Ludski, one of the agents marketing the portfolio said Teska Carson had sold 19 strip retail assets worth more than $36 million on an average 3.55 per cent yield this year.
“Most of our sales this year have gone to local investors with local knowledge and a keen sense of where the market is likely to sit in a few years’ time as Melbourne gradually approaches Sydney’s population mantle," he said.
He says that there has been an "enormous spike" in enquiry for retail strip and strata commercial assets in the sub $5 million range over the last few months.
The properties, all leased and zoned Commercial 1, include:
128A Bridge Rd, Richmond – auction December 12 at 1pm on site, new two year lease with a two year option at $30,000pa net with 4% increases;
172 Bridge Rd, Richmond – auction December 12 at 12pm on site, leased to Sportsgirl at $94,759pa net (pictured above);
210 Glenferrie Rd, Malvern - auction December 13 at 12pm on site, leased to Foxes Den, which has four Melbourne outlets, at $100,981pa net;
401 Hampton St, Hampton - auction December 14 at 1pm on site, leased on a three year term with a three year option at $40,351pa net;
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High Street retail strip shop listed for December auction

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Melbourne's likely last significant CBD offering of 2018 is a one of Queen Street’s trophy buildings.
Colliers International’s Oliver Hay, Daniel Wolman and David Sia have been appointed to manage the on-site auction campaign for 438 Queen Street.
Set on 1,440 sqm the property is expected to sell for more than $7 million.
The property is being sold by David Tweed, a controversial stocks predator who gained notoriety more than a decade ago through his practice of making unsolicited off-market offers to unsophisticated investors to acquire their securities at prices well below market value.
“With so few freestanding assets hitting the Melbourne CBD market, we’re expecting developers, investors and owner-occupiers to all be after a piece of the city’s history,” Mr Hay said. 
The corner property located in the heart of Melbourne’s Queen Victoria Market Precinct and Elizabeth Street 24-hour Precinct has triple street frontage spanning 69 m and is zoned for Capital City 1.
“These characteristics present scope for the building to be used as a powerhouse office headquarters, hospitality or student accommodation/hotel,” Mr Hay said. 
The property is for sale by auction on 13 December.
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Melbourne's last 2018 CBD offering of 2018 is a historic Queen Street building

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EXPERT OBSERVATION
For years Melbourne has been renowned for its trend-setting restaurant and fashion scene, often teaching big sister Sydney a thing or two.
More recently, Melbourne’s property market has caught our eye with its striking and daring architectural designs and robust opportunities for investors.
It’s almost impossible to escape headlines declaring prices falling in housing markets in major Australian capital cities, spreading widespread concern and creating an irrational fear of residential property investment.
But all indicators point to Melbourne as a prime investment location supported by strong population growth, stable political leadership and a high level of government investment in infrastructure.
Despite on-going media reports on negative housing trends, Melbourne continues to show solid economic growth and is likely to come out of this ‘softening period’ relatively unscathed.
Melbourne has managed to counteract the alleged housing market slowdown as the city’s median house price is up 5% in the past 12 months.
According to the Real Estate Institute of Victoria (REIV), there was a 13.6% increase in the value of homes sold on the private market and an 0.6% increase in the value of those sold at auction over the past 12 months.
The good news for investors transcends stabilising house prices as 2018 has also seen a boom in population growth which has allowed Victoria to take out the number one spot this year in CommSec's "State of the States" economic rankings, outranking New South Wales for the very first time.
In fact, Victoria experienced Australia’s largest population growth between 2016 and 2017 with Melbourne experiencing the largest and fastest growth of all capital cities.
According to the Australian Bureau of Statistics, Melbourne grew by approximately 144,400 people at a growth rate of 2.7%.
This record population growth continues to fuel demand for housing maintaining an overall undersupply in the market.
It is predicted that Melbourne could become Australia’s largest city as early as 2030 with its population expecting to reach 6.1 million.
Melbourne is on the verge of overtaking Sydney as the nation’s largest city and remains a ‘safe bet’ for investors in terms of securing tenants and both rental and capital growth.
The city also has no shortage of infrastructure projects making the city desirable for new residential dwellings.
Melbourne has a larger land radius in the city centre than Sydney allowing for more development and will soon have Australia's tallest skyline, with more than 140 skyscrapers higher than 100 metres completed, planned or under construction.
The Victorian economy has arguably been the best managed State across both sides of government for decades providing a resilience unseen in other states.
The Victorian Government is committed to ongoing investment in world-class transport infrastructure including the $11 billion Metro Tunnel Metro Tunnel and the $1.75 billion Regional Rail Revival program.
The future outlook remains positive with forecast budget surpluses for the next four years provide a stable economic environment in Victoria, allowing the government to expand its ongoing investment in infrastructure.
The housing market slowdown will likely dominate the headlines for the foreseeable future, but the reality is the property market is dynamic and there are always opportunities if you know where to look.
Investors need to do their homework and seek professional advice and ensure the fundamentals are strong before leaping into an investment opportunity.
JAMES NIHILL is the Managing Director of Patrick Leo
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Tale of two cities - Melbourne set to overtake Sydney: James Nihill

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Melbourne’s office market has been rated as Asia Pacific’s second most resilient and prepared for unexpected turns, according to a new report.
The ‘The Prepped Cities Index’ is Cushman &amp; Wakefield’s inaugural report that assesses governance and environment factors to help identify which cities are best prepared in deterring and managing against future uncertainty.
In 2018, the Victorian capital was only behind Singapore.
The Prepped Cities Index is based on eight indicators across Built Environment (Cost/Rental Volatility, Obsolescence, and Sustainability) and Governance and Environment (Governance, Terrorism, Talent, Susceptibility and Cyber Security).
These factors were used to assess 17 major business centres across the Asia Pacific.
Melbourne performed strongly across the majority of categories across both real estate and governance and environmental indicators.
This included ranking first in access to talent that is important for continuity in the event of an acute incident and third in sustainability. Melbourne also ranked strongly relative to the other cities in the indicators relating to cybersecurity and terrorism, which were drawn from the Economist Intelligence Unit’s Safe Cities Index.
However, the city missed out on the top ranking due to a lack of new quality office supply to replenish ageing stock and ongoing political changes impacting its governance rating.
Both Sydney and Melbourne illustrated Australia’s leadership in the sustainability of the built environment, ranking first and third in Asia Pacific respectively. This was assessed as the proportion of A-Grade buildings with at least a ‘very good’ LEED rating.
This sustainability ranking was achieved despite Sydney and Melbourne having the oldest average A- Grade office buildings across the Asia Pacific, however this was offset by high levels of institutional ownership and a well-developed program of building refurbishment.
Melbourne also ranked above every other city in terms of access to workers, either domestic population or attracting international staff, which supports its resilience should an acute incident occur.
Tony Crabb, Director Research, Australia and New Zealand at Cushman &amp; Wakefield, said: 
“A city’s ability to remain resilient in the face of external changes to the physical and geopolitical environment is increasingly important for real estate market participants and the population at large.
“Beyond the universal desire to provide each individual’s personal safety, the move to ensure that buildings are safe, sustainable, resilient and adaptable is being led by institutional landlords and emerging as a key criteria for investment.
“As the world’s second most livable city according to The Economist Intelligence Unit, it is no surprise that Melbourne ranks highly on The Prepped Cities Index.
“With 300,000 square metres of office space being delivered in Melbourne this may have boosted the city’s ranking even further.”
Emma Wright, National Manager, Sustainability Solutions, Australia and New Zealand at Cushman &amp; Wakefield, said: 
“Australia has demonstrated its leadership in environmental sustainability which goes well beyond the BEEC (Building Energy Efficiency Certificate) requirement for all office space advertised for sale, lease, or sub-lease (over 1,000 square metres).
“While A-Grade buildings may be older on average than other APAC locations, technology-enabled solutions and an active program of building upgrades and resource efficiency measures, are key initiatives that align with leadership in the sustainability of the built environment.
“Melbourne is particularly active in driving the sustainability agenda and is currently advancing a range of initiatives that reflects its position as a leader in the region and globally.
“This includes a firm commitment to carbon neutrality, the City Switch program which helps commercial office tenants improve energy and waste efficiency and a range of other initiatives designed to manage the environmental impact.”
Dr. Dominic Brown, Head of Research, Asia Pacific at Cushman &amp; Wakefield added:
“Given that real estate is a pillar of the regional economy, coupled with the massive amounts of investment in the built environment, the real estate industry can directly play a role in making cities better prepared for the future.”
“In the built environment, the cities that are best prepared to address unexpected events hold property assets that are modern, institutionally owned to a high degree, has a forward-looking approach to sustainability and less susceptible to pricing volatility.”
<a href="https://www.propertyobserver.com.au/images/2018/11/15/melbourne%20.jpg" target="_blank">Click here</a> to enlarge:
Chart: Preparedness Ranking for 17 major business centers in Asia Pacific 
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2018/11/15/melbourne%20.jpg" alt="">
Source: Cushman &amp; Wakefield Research
<a href="https://www.propertyobserver.com.au/images/2018/11/15/figure%201.jpg" target="_blank">Click here</a> to enlarge:
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2018/11/15/figure%201.jpg" alt="">
Source: Cushman &amp; Wakefield Research
<a href="https://www.propertyobserver.com.au/images/2018/11/15/figure%202.jpg" target="_blank">Click here</a> to enlarge:
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2018/11/15/figure%202.jpg" alt="">
Source: Cushman &amp; Wakefield Research
 
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Melbourne is APAC's second most resilient office market: Cushman & Wakefield

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Melbourne land prices have continued to moderate, with prices remaining stable in the September quarter, figures from the latest Oliver Hume Quarterly Market Insights (QMI) report showed.
Metropolitan Melbourne's median land price is now $325,000.
Active projects are only down 0.6 percent to 168, which signifies a drop of just one project, however there has been a total decline of 14.5 percent of total lots released.
Total lots released up to September (4232), is down 22 percent year on year.
Total lots sold in the September was also inevitably down (25 percent), with just over 3,300 lots sold. The total unsold amount of land lot was up 18 percent from last quarter.
Prices in the Melbourne Metro area were unchanged over the quarter, while Geelong, where the median price has soared over 30 percent annually, was down 2.67 percent.
Click here to enlarge.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2018/11/20/MElb-price.jpg" alt="">
The Mitchell Shire north of Melbourne continues to be the most affordable despite recording strong growth over the quarter and the year.
The municipality of Melton experienced the largest median price growth for the second consecutive quarter, with the median price of lots now sitting above $300,000 for the first time.
Oliver Hume chief operating officer Julian Coppini said the September quarter result reflected a moderating of demand for Melbourne land.
“Overall, we expect prices to remain relatively stable although some locations may see median prices trend lower,” he said. 
 
 
 
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jrobinson-rf4aSBido9

Melbourne land prices remain stable in September quarter but outer Melbourne softens

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Following on from Apartments.com.au's piece looking at the <a href="/news/urbans-top-5-for-october-most-viewed-architects">Top 5 Most Viewed Architects</a>, today we look at the Top 5 Most Viewed Suburbs. Once again these will be favoured heavily towards Melbourne due to the site's history as Apartments.com.au.

As the database and Apartments.com.au's presence continues to expand into the other Australian cities no doubt these will change. But for now here are the Top 5 and their respective development pipelines;

<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/top_suburbs_oct.png" rel="gallery-all"><img alt="" class="image-article-full-width-580px" height="209" src="/sites/urban.melbourne/files//styles/article_full_width_580px/public/pictures/article-images/top_suburbs_oct.png?itok=uHeMnblK" width="580"></a>

<figcaption> </figcaption></figure><h2><a href="/developments/melbourne-vic">1. Melbourne</a></h2>

The Victorian capital is experiencing an unprecedented level of population growth as it races towards becoming Australia’s largest city by 2030. This is being reflected in Melbourne’s strong development pipeline and investment in key infrastructure projects at state and local level, to ensure it remains among the world’s most liveable cities.

While the residential development pipeline appears to be winding down, the likes of West Side Place, Queens Place, Premier Tower, and By The Gardens are just beginning. In other words: the flurry of cranes that have been a permanent fixture on the Melbourne skyline for the last decade are set to remain for quite some time.

<iframe frameborder="0" height="420px" src="https://www.urban.com.au/developments/melbourne-vic?embeddable=map" width="100%"></iframe>

<h2><a href="/developments/southbank-vic-3006">2. Southbank</a></h2>

Southbank will continue its transformation over the next five years as it reaches for the sky, but also turns its focus to improving the quality of the public realm.

Significant developments include some of Australia's tallest buildings, with Australia 108 (317m), One Queensbridge Street (323m), and Southbank by Beulah (356m) joining Eureka Tower (297m) to produce a dramatic cluster of buildings.

<iframe frameborder="0" height="420px" src="https://www.urban.com.au/developments/southbank-vic?embeddable=map" width="100%"></iframe>

<h2><a href="/developments/south-melbourne-vic-3205">3. South Melbourne</a></h2>

Having experienced a steady rate of residential development over the last few years, South Melbourne doesn’t appear to be showing any signs of slowing down. A number of apartments are planned for Albert Road, Eastern Road, and Dorcas Street, exploiting views of Albert Park Lake, the Bay, and the Melbourne skyline.

South Melbourne is also experiencing an increase in commercial development around the South Melbourne Market precinct and along Moray Street, reinforcing the suburb’s status as an emerging office precinct of low to mid-rise developments.

<iframe frameborder="0" height="420px" src="https://www.urban.com.au/developments/south-melbourne-vic?embeddable=map" width="100%"></iframe>

<h2><a href="/developments/footscray-vic-3011">4. Footscray</a></h2>

Best remembered in the 90s for Franco Cozzo’s furniture store and iconic ads, Footscray will soon become synonymous with high-rise living as the suburb fulfils its potential as an activity centre and employment cluster, with support from the State Government and Maribyrnong City Council.

<iframe frameborder="0" height="420px" src="https://www.urban.com.au/developments/footscray-vic?embeddable=map" width="100%"></iframe>

<h2><a href="/developments/west-melbourne-vic-3003">5. West Melbourne</a></h2>

Acting as a gateway into the Melbourne CBD, West Melbourne is expected to see considerable development activity, with support from the Council to transform the industrial suburb into a village.

The City of Melbourne has developed a new structure plan for the area including the extension of trams down Spencer Street which would be re-imagined as a ‘high street.’

<iframe frameborder="0" height="420px" src="https://www.urban.com.au/developments/west-melbourne-vic?embeddable=map" width="100%"></iframe>

Keep an eye out for the Top 5 Most Viewed Local Government Areas tomorrow.
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Laurence Dragomir

Urban's Top 5 for October -  Most Viewed Suburbs

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EXPERT OBSERVATION
<div>A big jump in listings in Melbourne and Canberra this month, with Melbourne's available stock now comfortably exceeding 39,000, according to SQM Research's latest data and media release.</div>
<div> </div>
<div>There were small declines in October for Brisbane, Adelaide, and notably Darwin and Perth.</div>
<div>
 But the two major capital cities are well up from last year.</div>
<div> </div>
<div><a href="https://1.bp.blogspot.com/-28-ipGfRnqI/W-DpkBGNtnI/AAAAAAAAssA/T0C2fxMYRVY1XCtva9nrk-Ijs1nJBnIeACLcBGAs/s1600/SQM1.jpg"><img src="https://1.bp.blogspot.com/-28-ipGfRnqI/W-DpkBGNtnI/AAAAAAAAssA/T0C2fxMYRVY1XCtva9nrk-Ijs1nJBnIeACLcBGAs/s640/SQM1.jpg" width="640" height="370" data-original-height="798" data-original-width="1375"></a></div>
<div>
 It took a bit longer to get there, but Melbourne has now well and truly joined Sydney with its slowing market, with stock levels leaping 5.9 per cent higher in the month of October alone.</div>
<div> </div>
<div class="separator"><a href="https://4.bp.blogspot.com/-w3AiiL_6oLo/W-Dpkbv6LhI/AAAAAAAAssE/VWGYlMduTKUq5m_Tfp7jcGYyZQUr1vfVwCLcBGAs/s1600/SQM2.jpg"><img src="https://4.bp.blogspot.com/-w3AiiL_6oLo/W-Dpkbv6LhI/AAAAAAAAssE/VWGYlMduTKUq5m_Tfp7jcGYyZQUr1vfVwCLcBGAs/s640/SQM2.jpg" width="640" height="376" data-original-height="799" data-original-width="1360"></a></div>
From a year earlier, Melbourne listings are up by 24.3 per cent, suggesting very slow sales activity in the Victorian capital.
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pwargent-M4siyDbqQY

Melbourne stock surge: Pete Wargent

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Construction has begun on Melbourne Connect, located on the site of the former Royal Women’s Hospital.
The Woods Bagot-designed building is being developed by the University of Melbourne in partnership with a consortium led by Lendlease.
The building will be home to retail, cafes, accommodation for more than 500 students and visiting academics, a childcare centre, a co-working and commercial office space, a fabrication laboratory and Science Gallery Melbourne.
The design features a 3260 square metre ‘superfloor’ on the mezzanine level connecting the buildings that make up Melbourne Connect.
Woods Bagot principal and project architecture lead Hazel Porter says that working with CLT demonstrates the future-focused nature of the project.
"CLT stands out for its sustainability, versatility, strength and aesthetic. Long championed by Lendlease, its benefits translate to safer working environments, improved quality and faster construction time on site due to prefabrication," said Porter.
"It’s inspiring to use a technologically innovative product in an equally ground-breaking project."
The building will host to pitch nights, hackathons and masterclasses, workshops – providing opportunities to actively engage with government and industry. Childcare facilities will span the upper floors to the rooftop terrace.
Melbourne Connect is valued at $425 million and will open in late 2020.
<img src="https://meltwater-apps-production.s3.amazonaws.com/uploads/images/5517a5284ffc3303314f6c3d/blobid0_1540882085792.jpg" width="497" height="522" data-imagetype="External">
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Construction begins on Melbourne Connect

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Mirvac Group has announced the signing of two new leases at its flagship Melbourne office tower, Olderfleet, at 477 Collins Street. 
Kids Club Early Learning Centres will open it’s first Melbourne CBD centre with approximately 1,000 sqm, while law firm Lander &amp; Rogers will occupy approximately 5,000 sqm of the premium-grade commercial building.   Frank Lonetti, Mirvac’s development director, said with more and more people working flexibly, and outside the traditional hours of nine to five, a convenient childcare option was paramount for the tenants at Olderfleet.   The childcare centre will accommodate 130 children and will have 50 per cent indoor and outdoor play areas. 
Kids Club Early Learning Centres CEO, Corie Stone, said they are thrilled to be the childcare operator of choice for Mirvac in such an iconic site.
"Kids Club Early Learning Centres are well recognised in Sydney and Canberra for their Education for Life Program and for having some of the most creative play spaces in Australia," Stone said.
"We’re proud to finally bring our Six-Star Early Education experience to Melbourne.”   <img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2018/10/29/12145-09-477CollinsSt%20VIEW01%20-03.jpg" alt="">
Lander &amp; Rogers will occupy Levels 12 to 15 of the advanced commercial building, which will include technology-enabled workplaces and sustainability features. 
Lonette said Lander &amp; Rogers was drawn to the unique working environment, amenities and the enhanced experience that Olderfleet will deliver for workers.
Construction of Olderfleet is progressing as per program with completion of the building scheduled for 2020.   A range of facilities will be available at Olderfleet including a wellness centre, luxurious hotel-style end-of-trip facilities, and 410 car parking spaces with direct access to the childcare centre.    Olderfleet is targeting a 5 Star Green Star rating, a 5 Star NABERS energy rating and a Platinum WELL Certification.
 
 
  
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