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


Joel Robinson

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

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


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

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


Kooyongkoot wins Gold and Silver at Better Future Melbourne Design Awards

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


The apartment price gap drawing Sydney buyers west

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


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

Melbourne

<html><body>
<div>EXPERT OBSERVER</div>
<div> </div>
<div>Melbourne's median lot value increased by another 41 per cent year-on-year to a record $359,000, according to HIA figures. </div>
<div> </div>
<div>That's up from just above $200,000 five years ago.</div>
<div> </div>
<div class="separator"><a href="https://1.bp.blogspot.com/-3ZCsu9VpbuE/W1rx_-Uc-VI/AAAAAAAArPY/YZBBVJ_sGiQOaw6zqM6yq0yrXO97uQsEACLcBGAs/s1600/HIA1.jpg"><img src="https://1.bp.blogspot.com/-3ZCsu9VpbuE/W1rx_-Uc-VI/AAAAAAAArPY/YZBBVJ_sGiQOaw6zqM6yq0yrXO97uQsEACLcBGAs/s640/HIA1.jpg" width="640" height="352" data-original-height="578" data-original-width="1050"></a></div>
<div> </div>
<p><span>In Sydney the median lot value sits just below its peak at $469,500.</span><br><br></p>
<div class="separator"><a href="https://4.bp.blogspot.com/-l_7zcmy45gY/W1ryAXV4WBI/AAAAAAAArPc/Z_Iyx7t366A-1PSwHuammLsDttc3tFs6ACLcBGAs/s1600/HIA2.jpg"><img src="https://4.bp.blogspot.com/-l_7zcmy45gY/W1ryAXV4WBI/AAAAAAAArPc/Z_Iyx7t366A-1PSwHuammLsDttc3tFs6ACLcBGAs/s640/HIA2.jpg" width="640" height="370" data-original-height="605" data-original-width="1046"></a></div>
<p> </p>
<div>Lot sizes have been shrinking over time too.</div>
<div> </div>
<div>Indeed, on a price per square metre Sydney's land price was more than 8 per cent higher than a year earlier. </div>
<div> </div>
<div>A 700sqm block in Kellyville sold for $1,200,000 this week, some 36 kilometres from the CBD and located close to the M7 motorway.<br><br>
</div>
<div class="separator"><a href="https://3.bp.blogspot.com/-uB3ffLyZCQk/W1rzBrapBaI/AAAAAAAArPs/Io4s_-lFocwwt4z-H7mLAevdkTfQcwP7gCLcBGAs/s1600/HIA3.jpg"><img src="https://3.bp.blogspot.com/-uB3ffLyZCQk/W1rzBrapBaI/AAAAAAAArPs/Io4s_-lFocwwt4z-H7mLAevdkTfQcwP7gCLcBGAs/s640/HIA3.jpg" width="640" height="380" data-original-height="621" data-original-width="1043"></a></div>
<div> </div>
<div>Sales volumes have declined significantly, which combined with rising prices suggests limited availability on the market. </div>
<div> </div>
<div>Overall, it's been another strong decade for land prices.</div>
<div>
<br><em>PETE WARGENT is the co-founder of AllenWargent property buyers (London, Sydney) and a best-selling author and <a href="https://petewargent.blogspot.com/" target="_blank">blogger</a>.</em>
</div>
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pwargent-M4siyDbqQY

Melbourne's house and land values continue to rise: Pete Wargent

<p>In stark contrast to our growing database of <a href="/news/top-20-sydney-suburbs-with-the-largest-development-pipeline">Sydney projects</a>, Melbourne's been in <a href="/">Apartments.com.au's</a> DNA for over five years.&nbsp; And what a difference it is with postcode 3000 (actually, the suburb name Melbourne, but you know what I mean) leading the pack among the top 20 suburbs across metropolitan Melbourne with the largest development pipeline.</p>

<p>Not to be outdone, <a href="/new-apartments/southbank-vic-3006">Southbank</a>, home to some of the largest skyscrapers (and proposals) in the city comes in second with a 5 figure number in its development pipeline and spilling over from Southbank, <a href="/new-apartments/south-melbourne-vic-3205">South Melbourne</a> takes the third top spot.</p>

<p><a href="/new-apartments/box-hill-vic-3128">Box Hill</a> and <a href="/new-apartments/doncaster-vic-3108">Doncaster</a> are two suburbs in the top 10 which stand apart from the trend of much of inner Melbourne ruling the roost and <a href="/new-apartments/brunswick-vic-3056">Brunswick</a>, <a href="/new-apartments/moonee-ponds-vic-3039">Moonee Ponds</a>, <a href="/new-apartments/coburg-vic-3058">Coburg</a> in that inner-city to middle-ring transition area are present within the top 20.</p>

<p>In fact, beyond the top 20, there are many middle-ring Melbourne suburbs with over 1000 dwellings in the development pipeline including <a href="/new-apartments/carnegie-vic-3163">Carnegie</a> (1602), <a href="/new-apartments/essendon-vic-3040">Essendon</a> (1527), <a href="/new-apartments/north-melbourne-vic-3051">North Melbourne</a> (1407) and <a href="/new-apartments/maribyrnong-vic-3032">Maribyrnong</a> (1279).</p>

<p>For a while I've been saying both privately and publicly, <a href="/new-apartments/footscray-vic-3011">Footscray</a> is on the same level as <a href="/new-apartments/south-yarra-vic-3141">South Yarra</a> - similar distances from the centre of Melbourne and with the rail transport to match - and lo and behold Footscray is well ahead of South Yarra's pipeline numbers at this time.</p>

<p><a href="/new-apartments/collingwood-vic-3066">Collingwood</a> (2668) outstrips <a href="/new-apartments/fitzroy-vic-3065">Fitzroy</a> (1169, ranked #35) by a long margin and <a href="/new-apartments/preston-vic-3072">Preston</a> (3369) is way out ahead of all the other suburbs on the High Street / South Morang corridor.</p>

<p>The monster numbers at the top can be explained that the suburb 'Melbourne' applies to St Kilda Road as well as the CBD, however when we look exclusively at postcode 3000, there are still over 18,000 dwellings in the pipeline.</p>

<p>The number of dwellings below are&nbsp;for all projects on the Apartments.com.au project database across all four main statuses - Planning Assessment, Approved, Registration &amp; Sales and Under Construction.</p>

<p>Click on a suburb name to view a summary of the development pipeline for each region.</p>

<table border="1" cellpadding="1" cellspacing="1" style="width:100%;">
	<thead>
		<tr>
			<th scope="col">Rank</th>
			<th scope="col">Suburb</th>
			<th scope="col">Number of Dwellings</th>
		</tr>
	</thead>
	<tbody>
		<tr>
			<td>1</td>
			<td><a href="/developments/melbourne-vic">Melbourne</a></td>
			<td>20,035</td>
		</tr>
		<tr>
			<td>2</td>
			<td><a href="/developments/southbank-vic-3006">Southbank</a></td>
			<td>16,015</td>
		</tr>
		<tr>
			<td>3</td>
			<td><a href="/developments/south-melbourne-vic-3205">South Melbourne</a></td>
			<td>6573</td>
		</tr>
		<tr>
			<td>4</td>
			<td><a href="/developments/footscray-vic-3011">Footscray</a></td>
			<td>6526</td>
		</tr>
		<tr>
			<td>5</td>
			<td><a href="/developments/docklands-vic-3008">Docklands</a></td>
			<td>6276</td>
		</tr>
		<tr>
			<td>6</td>
			<td><a href="/developments/box-hill-vic-3128">Box Hill</a></td>
			<td>5645</td>
		</tr>
		<tr>
			<td>7</td>
			<td><a href="/developments/west-melbourne-vic-3003">West Melbourne</a></td>
			<td>4980</td>
		</tr>
		<tr>
			<td>8</td>
			<td><a href="/developments/richmond-vic-3121">Richmond</a></td>
			<td>4402</td>
		</tr>
		<tr>
			<td>9</td>
			<td><a href="/developments/south-yarra-vic-3141">South Yarra</a></td>
			<td>4124</td>
		</tr>
		<tr>
			<td>10</td>
			<td><a href="/developments/doncaster-vic-3108">Doncaster</a></td>
			<td>3808</td>
		</tr>
		<tr>
			<td>11</td>
			<td><a href="/developments/preston-vic-3072">Preston</a></td>
			<td>3369</td>
		</tr>
		<tr>
			<td>12</td>
			<td><a href="/developments/brunswick-vic-3056">Brunswick</a></td>
			<td>3044</td>
		</tr>
		<tr>
			<td>13</td>
			<td><a href="/developments/brunswick-east-vic-3057">Brunswick East</a></td>
			<td>2828</td>
		</tr>
		<tr>
			<td>14</td>
			<td><a href="/developments/north-melbourne-vic-3051">North Melbourne</a></td>
			<td>2793</td>
		</tr>
		<tr>
			<td>15</td>
			<td><a href="/developments/moonee-ponds-vic-3039">Moonee Ponds</a></td>
			<td>2749</td>
		</tr>
		<tr>
			<td>16</td>
			<td><a href="/developments/collingwood-vic-3066">Collingwood</a></td>
			<td>2668</td>
		</tr>
		<tr>
			<td>17</td>
			<td><a href="/developments/st-kilda-vic-3182">St Kilda</a></td>
			<td>2618</td>
		</tr>
		<tr>
			<td>18</td>
			<td><a href="/developments/port-melbourne-vic-3207">Port Melbourne</a></td>
			<td>2493</td>
		</tr>
		<tr>
			<td>19</td>
			<td><a href="/developments/coburg-vic-3058">Coburg</a></td>
			<td>1792</td>
		</tr>
		<tr>
			<td>20</td>
			<td><a href="/developments/hawthorn-east-vic-3123">Hawthorn East</a></td>
			<td>1757</td>
		</tr>
	</tbody>
</table>


Alastair Taylor

Top 20 Melbourne suburbs with the largest development pipeline

<html><body>
<p>The median house price in Melbourne decreased 1.8% over the June quarter to $882,082.</p>
<p>However, over the year the capital city saw a marginal price increase of 0.5%.</p>
<p>This represents the slowest annual rate of growth since 2012, according to Domain.<br><br>Median unit prices in Melbourne declined 0.6% over the June quarter to $496,021.</p>
<p>Year-on-year the city saw a growth of 0.9% — the lowest rate of annual growth since 2012. <br><br>“While Melbourne continued to maintain annual growth, tighter lending standards, slower mortgage processing times, reduced borrowing capacity, lower investor activity and hesitation resulting from the Royal Commission have contributed to the slowdown in the city’s property market," Domain data analyst, Dr Nicola Powell said. <br><br>“Despite units outperforming houses, Melbourne experienced the lowest growth rate in both house and unit prices since 2012,” said Powell.</p>
<p><span><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/2018/7/25/domain%20melbourne.jpg" alt=""></span></p>
</body></html>

j.ballantyne1990-6AQqhLzZaK

Melbourne's lowest rate of annual property price growth since 2012: Domain 

<html><body>
<div>EXPERT OBSERVER</div>
<div> </div>
<div>Lots of discussion about immigration is to be expected in the lead up to the Federal election, and as the Australian population clock approaches 25 million in the coming days. </div>
<div> </div>
<div>It's interesting to note that the locations where immigrants have mostly been moving to are also by far and away the strongest labour markets in the country. </div>
<div> </div>
<div>The construction boom in Melbourne is all set to push unemployment in Victoria down to below 5 per cent too, joining New South Wales which is already at 4.7 per cent. </div>
<div> </div>
<div>In fact, the construction pipeline in Victoria is so immense that I believe Melbourne will be the strongest economy in the country for years to come. </div>
<p> </p>
<div class="separator"><img src="https://1.bp.blogspot.com/-oVsdCu-nhYI/W1QBlspHyhI/AAAAAAAArKk/Sej6RxstRIkqFxRjET2Vo6ITLeZK8hH2wCLcBGAs/s640/Sydney.jpg" width="640" height="372" data-original-height="802" data-original-width="1375"></div>
<p> </p>
<div>Another benefit to these cities is that the immigrants have mainly be younger than the median age, with visa requirements tilted towards those under the age of 30. </div>
<div> </div>
<div>It's easy to be anti-immigration and blame migrants for traffic congestion and so on.</div>
<div> </div>
<div>But Sydney and Melbourne also have dynamic economies unlike much of the rest of the country right now.</div>
<div> </div>
<div>Cause or effect? </div>
<div> </div>
<div>It's hard to say.</div>
<div> </div>
<div>But having lived in cities where the population is growing and a city/region where the population ebbed away for year after year, I know which dynamic is preferable...and it ain't the latter!</div>
<div> </div>
<div>Incidentally, the younger age of migrants is a positive input for housing market demand in Sydney and Melbourne. </div>
<div> </div>
<div>The Census confirmed a tremendous decade-long surge in the cohort typically representing the first homebuyer age, which will in time stoke demand for inner-suburban apartments in these cities.</div>
<div> </div>
<div class="separator"><img src="https://3.bp.blogspot.com/-ljttoCR_8eQ/W1aXzCvB9FI/AAAAAAAArL8/dw8Edo9mjAEwpSQ5kX6iVuwZCIu_pGHfgCLcBGAs/s640/year%2Bof%2Bage.jpg" width="640" height="374" data-original-height="803" data-original-width="1372"></div>
<div> </div>
<div>Thanks to immigration Greater Sydney and Melbourne have a much younger median age at 36 than cities such as Adelaide or Hobart at 39. </div>
<div> </div>
<div><em>PETE WARGENT is the co-founder of AllenWargent property buyers (London, Sydney) and a best-selling author and <a href="https://petewargent.blogspot.com/" target="_blank">blogger</a>.</em></div>
</body></html>

Migrants, jobs and housing: Pete Wargent

<html><body>
<p>Construction of a world-first model of intensive support and crisis accommodation for young people sleeping rough commenced this week in Melbourne.</p>
<p>Victorian Minister for Housing, Martin Foley, was onsite yesterday at Melbourne City Mission’s Frontyard Youth Services at 19 King Street to mark the start of the $8 million construction project, made possible by a partnership between Melbourne City Mission, the Victorian Government, philanthropists including The Peter and Lyndy White Foundation, and the property industry through the Property Industry Foundation.</p>
<p>The project will transform Frontyard, currently Victoria’s largest early intervention and crisis service for young people who are experiencing, or are at risk of, homelessness  into a 24/7 service with new and expanded supports.</p>
<p>This includes two floors of crisis accommodation for young people who are currently rough sleeping in the city and onsite mental health, drug and alcohol and disability expertise.</p>
<p>As part of the new world-first model, Frontyard will pioneer digital engagement strategies to more effectively connect young people into support.</p>
<p>The Frontyard team will also actively hit the streets to find young people sleeping rough and connect them to services.</p>
<p>When construction is completed in early 2019, the new Frontyard will provide a breadth, depth and intensity of support "unlike anything else found in the youth homelessness system".</p>
<p>The new model of support has been designed to respond to the multiple and complex needs of young people with significant trauma, who experience challenges connecting into support services.</p>
<p>Existing Frontyard services will remain open throughout the redevelopment, at a temporary site at 244 Flinders Street in Melbourne.</p>
<p>The new Frontyard will open up at 19 King Street in early 2019.</p>
<p>Martin Foley, Minister for Housing, Disability and Ageing said, “Victoria is leading Australia - and the world - in investing in the Frontyard model which provides a comprehensive response to youth homelessness.”</p>
<p>Vicki Sutton, CEO Melbourne City Mission said that “the new Frontyard is a world-first and designed to disrupt the cycle of homelessness for Victoria’s most vulnerable and hard to reach young people.”</p>
<p>Peter Inge, Chairman Property Industry Foundation Victoria stated that “Our mission at the Property Industry Foundation (PIF) is to work with charities who provide programs that assist at-risk and homeless young people; It is PIF’s plan to nationally create 125 bedrooms over the next 4 years.”</p>
<p>“We’re proud to partner with Melbourne City Mission on the new Frontyard project that will provide a world-first 24/7 program with short term accommodation for the most severely marginalised and disadvantaged youth,” Mr Inge concluded.</p>
<p>A number of consultants in the industry such as Ashurst, Case Meallin, Urbis, Slattery, Fender Katsalidis, NDY, Wood &amp; Grieve Engineers, Hendry Group, Equitable Access Solutions, Irwinconsult, and Built have already pledged their support with a plan to provide pro-bono services for the construction project.</p>
</body></html>

Construction has commenced on "world-first" response to youth homelessness in Melbourne

<html><body>
<p>A Melbourne two bedroom apartment has been listed by the mortgagee with the indicative selling price of $480,000 to $520,000.</p>
<p>The 61 sqm apartment has been scheduled for auction on July 28 and is being marketed by through Inner Real Estate agents, Anthony Cimino and April Aitchison.</p>
<p>It was previously on the market for almost 700 days while being leased before this current auction campaign.</p>
<p>It was first let in 2014 for $460/wk, it was then re-let in 2016 for a new price $450/wk and was most recently on the market for lease in June this year for $580/wk.</p>
<p>The apartment last sold in 2013 for $518,000.</p>
<p><a href="https://www.realestate.com.au/property-apartment-vic-melbourne-128671438" target="_blank">Situated at 1114/199 William St</a>, the apartment comes with two bedrooms, kitchen with stainless steel appliances, separate living area and oversized north facing balcony.</p>
<p><a href="/expert-insights/buying/wyndham-welcoming-at-the-william-in-hengyi-australias-first-venture">The William</a> is s<span>urrounded by restaurants, cafes, tram stops, Southern Cross Station, Flagstaff Gardens and educational facilities.</span></p>
<p>The suburb's median unit price sits at <a href="/developments/melbourne-vic">$459,900</a>, according to CoreLogic. </p>
<p>The agents advise recent comparable sales include 814/199 William Street which fetched $550,000 in March. It first sold off the plan in 2012 at $570,500.</p>
</body></html>

The William, Melbourne inner city two bedroom apartment scheduled for auction by mortgagee 

<html><body>
<div>EXPERT OBSERVER</div>
<div> </div>
<div>An intriguing set of building activity figures as ever for the March 2018 quarter. </div>
<div> </div>
<div>The most interesting point of note was how thousands of building approvals in the Victorian pipeline were kicked off as dwelling starts in the first three months of the calendar year (recall how Melbourne saw nearly 10,000 townhouses and apartments approved in only a two-month period in October and November last year).</div>
<div> </div>
<div>In New South Wales, on the other hand, there are more houses and apartments approved but not yet commenced than ever before, as developers grapple with tighter financing and languishing apartment pre-sales. </div>
<p> </p>
<div class="separator"><img src="https://1.bp.blogspot.com/-IBA7-WMHTY8/W0V1rvQfoZI/AAAAAAAArAE/uj3Kf3OMkg82lMDyY8usAtL_kner9f9igCEwYBhgL/s640/BA3.jpg" width="640" height="360" data-original-height="783" data-original-width="1389"></div>
<p> </p>
<div>Following on from the above, there was a near-explosion in the number of quarterly dwelling commencements in Victoria, to a seasonally adjusted 22,150, well over double the equivalent figure from a decade earlier.<br><br>Melbourne's population growth has been tracking at record highs, and demand for housing is high.</div>
<div> </div>
<div>This alone was significant enough to send the national trend for dwelling commencements northwards. </div>
<p> </p>
<div class="separator"><img src="https://4.bp.blogspot.com/-JmNI8sM0-qc/W0V1s90dimI/AAAAAAAArAI/9cEGyLHhx3ApESqUvmIQ9VNP2Ny2qaXaACEwYBhgL/s640/BA5.jpg" width="640" height="392" data-original-height="804" data-original-width="1310"></div>
<p> </p>
<div>In Queensland more houses are being commenced in response to strong demand from interstate migrants, but the number of attached dwelling starts continues to moderate as the Brisbane apartment market rebalances. </div>
<p> </p>
<div class="separator"><img src="https://1.bp.blogspot.com/-BIMygTTR1rg/W0V1sDgFn7I/AAAAAAAArAI/kBXZooy2BQQxTdc9h7P2ikm31-d-5uF1ACEwYBhgL/s640/BA4.jpg" width="640" height="374" data-original-height="790" data-original-width="1350"></div>
<p> </p>
<div><strong><span style="text-decoration: underline;">Pipeline is enormous</span></strong></div>
<div> </div>
<div>The number of residential dwellings units under construction also increased as a result of the Melbourne building boom to more than 224,000, a record high.</div>
<p> </p>
<div class="separator"><img src="https://3.bp.blogspot.com/-93XBQZlcR8Q/W0V1rWumBwI/AAAAAAAAq_k/WE_s0iLsrJM_prad2slt7pILMs7kag7NACLcBGAs/s640/BA1.jpg" width="640" height="376" data-original-height="785" data-original-width="1336"></div>
<p> </p>
<div>You can also see the leap in Victorian attached dwellings under construction to a record level, while Sydney completions are now finally raining in, which should result in a spike in vacancy rates in the harbour city as the year rolls on. </div>
<p> </p>
<div class="separator"><img src="https://4.bp.blogspot.com/-iLo-uVMONQA/W0V1rqS_n-I/AAAAAAAAq_o/UBeacRrqL74NiZEC1WXR7wIxlJL6UMiAwCLcBGAs/s640/BA2.jpg" width="640" height="378" data-original-height="801" data-original-width="1351"></div>
<p> </p>
<div>Both the value of building work to be done ($71.4 billion) and total building work in the pipeline ($95.8 billion) are at all-time highs in current prices terms. </div>
<div> </div>
<div>The big question mark is how many of the buyers of off-the-plan apartments will be unable to settle, especially if more valuations at settlement start to come in at under the contract price. </div>
</body></html>

Melbourne's population growth at record highs makes for strong demand for housing: Pete Wargent

<html><body>
<p>Neue Grand, the new Growland developed residential building on St Kilda Road, is seeking to implement Australia's first sky garage.</p>
<p>Residents will be able to showcase their luxury cars in a glass display port that sits adjacent to the main living area.</p>
<p>The 20-storey building with 19 residential levels is designed by award-winning architecture firm Rothelowman and will feature just one apartment per level with a sprawling 350 square metre floor plan.</p>
<p>With an average price of $6 million, each full-floor apartment will offer a minimum of three bedrooms.</p>
<p>Residents will drive their vehicle into the German engineered automated parking system from the ground floor, where license plate recognition allows for secure entry.</p>
<p>Once exiting the vehicle, residents will scan a pass to their own lift, where one of two sides will be assigned to the individual.</p>
<p>Protecting their privacy, the lift takes the resident to their own apartment without revealing the dwelling’s floor number.</p>
<p>Meanwhile, the high-speed German engineered automated parking system will automatically send the resident’s vehicle skywards and park it in a private double-space display port in the apartment.</p>
<p>There's also basement parking for residents’ ‘everyday’ car.</p>
<p><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/2018/7/11/sky1.jpg" alt=""></p>
<p>Residents are greeted by concierge in the entrance, and once at their level will access their apartments via ultra-modern fingerprint recognition software. Inside the residences, blinds and lights will be controlled through high-tech home automation.</p>
<p>The prized penthouse apartment will have exclusive access to a private rooftop and garden offering city and bay views, with the opportunity to combine the top two floors for a palatial double-story residence with a striking internal staircase.</p>
<p>Founding principal of Rothelowman Shane Rothe said Neue Grand is speaking to a market that is yet to be satisfied – discerning downsizers looking for new residences that retain the design opulence and scale of their former homes.</p>
<p>“These homes will appeal to purchasers wanting premium quality and exclusivity,” Rothe said.</p>
<p>“The ability to showcase premium cars is a rare opportunity in Australia. These apartments will also tap into a new middle-aged professional market made up of people who are downsizing earlier for the convenience of lifestyle. Easy access to the gym, storage within the residences for golf clubs, and the selectivity of only one apartment per floor will appeal to their mindset alongside the chance to exhibit their high-end vehicles.</p>
<p>“Growland is an innovative developer who consistently pushes the envelope to create unique product in the built environment.”</p>
<p>Growland CEO Ronald Chan says Neue Grand and its rare feat of specialised engineering is reflective of the company’s commitment to innovation and exceeding expectations.</p>
<p>“As developers, we are always looking at how we can improve and expand our way of thinking,” said Chan.</p>
<p>“We want to create projects that set a benchmark and continue to surpass the realm of possibility; our aim is always to challenge the status quo and to approach new ideas with enthusiasm rather than with caution.</p>
<p>Plans for the sky garage are awaiting final approval. </p>
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jonathanchancellor-7SQnKwU6yx

Sky high garages in Melbourne luxury development Neue Grand

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<p>The expansion of the Melbourne Convention and Exhibition Centre and broader South Wharf precinct is complete, marking the first expansion of an operating public-private partnership in Victoria.</p>
<p>The $350 million project by the Victorian Government in partnership with Plenary and its private sector partners includes a 20,000 square metre expansion of MCEC, the new 347-room Novotel Melbourne South Wharf and new 1,150-space multi-level car park.</p>
<p>The MCEC is Australia’s largest convention and exhibition space.</p>
<p>Acting Premier of Victoria James Merlino and Minister for Tourism and Major Events John Eren joined Plenary Chairman John O’Rourke, Melbourne Convention and Exhibition Trust Chair John Brumby and MCEC Chief Executive Peter King yesterday to tour the centre.</p>
<p>The expansion is fully-connected and integrated with the existing MCEC buildings and include 9,000 square metres of flexible expansion space, a 1,000-seat multi-purpose theatre and a gala banquet room.</p>
<p>Around 700 people were employed to work on this project, including up to 60 apprentices. Now completed, the expanded precinct will add more than 900 ongoing jobs.</p>
<p>Plenary Group Chairman John O’Rourke said the project will increase business and tourism activity in the precinct, ensuring it remains Australia’s number one business tourism and events destination.</p>
<p>“We planned for this expansion when designing the Melbourne Convention Centre a decade ago, so it is great to be finally realising what we envisioned,” O’Rourke said.</p>
<p>“As long-term investors in the precinct, Plenary was perfectly placed to deliver the expansion, ensuring MCEC continued its success and that South Wharf remained a food, beverage and retail destination.”</p>
<p>Melbourne Convention and Exhibition Trust Chair John Brumby said he was proud of the project and the benefits it will bring for MCEC’s customers, the City of Melbourne and the State of Victoria.</p>
<p>“A project like this involves a lot of different people and I think the success of this building is testament to the strong engagement among key stakeholders throughout planning and construction,” Brumby said.</p>
<p>The Victorian Government provided $205 million for the MCEC expansion, and Plenary and its partners invested more than $150 million in the hotel and car park.</p>
<p>Plenary was the sponsor, investor and financial arranger for both the expansion project and the original 2009 Melbourne Convention Centre development, and plays a key role in the ongoing asset management of MCEC.</p>
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Melbourne's South Wharf precinct and Convention and Exhibition Centre complete

<html><body>
<p>Melbourne-based property investment companies PodCo and Terraplex have continued the sell down of their Emerald Hill Terrace portfolio.</p>
<p>There have been two sales with a third property confirmed for July auction.</p>
<p>A local investor purchased 338-340 Clarendon Street in South Melbourne (pictured above) at an onsite auction for $3.95 million.</p>
<p>The 276 square metre property has a short-term lease in place to Bendigo Bank.</p>
<p><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/2018/7/9/Claremont%202.jpg" alt=""></p>
<p>Meanwhile, in an off-market process, a 184 square metre retail/residential property at 342 Clarendon Street (pictured above) was purchased by a local investor for $2.175 million, reflecting a return of 3.8%.</p>
<p>PodCo and Terraplex acquired the portfolio in early 2015, and over the course of three years have subdivided the landholding into 15 separately titled retail/residential offerings.</p>
<p>CBRE’s negotiated the latest transactions, and will be selling the third property conjunctionally with Dixon Kestles with the agents suggesting confidence in Clarendon Street as "one of Melbourne’s top performing retail strips".</p>
<p><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/2018/7/9/Claremont%203.jpg" alt=""></p>
<p>The next property to come to market as part of the portfolio sell down is 350-352 Clarendon Street, South Melbourne (pictured above).</p>
<p>It is a double fronted, multi-tenanted retail/residential property, comprising four apartments and two retail shops.</p>
<p>The auction is projected to achieve a sale result in the high $3 million range.</p>
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