<p data-end="256" data-start="0"><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.</p>

<p data-end="446" data-start="258">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.</p>

<p data-end="645" data-is-last-node="" data-is-only-node="" data-start="448">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>.</p>

<p><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" /></p>

<p>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.</p>

<p>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.</p>

<p>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.”</p>

<p data-end="626" data-start="350">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.</p>

<p data-end="928" data-start="628">“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.”</p>

<p data-end="1147" data-start="930">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”.</p>

<p data-end="1510" data-start="1149">“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.”</p>

<p data-end="1510" data-start="1149"><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" /></p>

<p>&nbsp;</p>

<p>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.</p>

<p>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.</p>

<p>The application joins a growing pipeline of luxury residential projects reshaping Broadbeach, including nearby developments by 5Point Projects, Polycell, and Graya.</p>

<p>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.</p>

<section data-scroll-anchor="false" data-testid="conversation-turn-4" data-turn="assistant" data-turn-id="request-WEB:84a2af5e-d7cf-4ddf-922a-f4d44d6c6caa-1" data-turn-id-container="request-WEB:84a2af5e-d7cf-4ddf-922a-f4d44d6c6caa-1" dir="auto">
<p data-end="305" data-is-last-node="" data-is-only-node="" data-start="0">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.</p>
</section>


Joel Robinson

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

<p style="text-align:start">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;</p>

<p>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.</p>

<p>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.</p>

<p>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.</p>

<p>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.</p>

<p>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.</p>

<p><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" /></p>

<p>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.</p>

<p>An early works program is taking shape, which&nbsp;includes the first stages of an international design competition.&nbsp;</p>

<p>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.</p>

<p>The competition will be led by the Bays West Delivery Authority in partnership with Government Architect NSW.&nbsp;</p>

<p>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.</p>

<p>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.</p>

<p>“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.</p>

<p>“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;</p>

<p>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.</p>

<p>“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.</p>

<p>“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.”</p>


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

<p>Around 400 additional homes could be built at Southwark Grounds on Port Road, lifting total site capacity from 1300 to around 1700 dwellings.</p>

<p>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.</p>

<p>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.</p>

<p>“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.</p>

<p>Since the project officially launched in 2025, Mr Wingard said more than 12,000 enquiries had been received about living at Southwark Grounds.</p>

<p>“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.</p>

<p>The Southwark Grounds code amendment was launched in December last year, with community engagement undertaken over five weeks from January.</p>

<p>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.</p>

<p>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.</p>

<p>One of the first developers delivering apartment sites have already finalised redesigns to increase the number of apartments following the code amendment.</p>

<p>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.</p>

<p>The developer is also exploring the potential for additional affordable housing outcomes.</p>

<p>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.</p>

<p>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.</p>

<p>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.</p>

<p>&nbsp;</p>

<p>&nbsp;</p>

<p>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.</p>

<p>“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.”</p>

<p>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.</p>

<p>Southwark Grounds is a state government‑led urban renewal project now set to deliver around 1,700 homes over the next decade.</p>

<p>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.</p>


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

<p>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.</p>

<p>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.</p>

<p>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.</p>

<p><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" /></p>

<p>“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.</p>

<p>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.”</p>

<p>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.</p>

<p><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" /></p>

<p>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.</p>

<p>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.</p>

<p>“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.</p>

<p>A major focus of the proposal is its five-level wellness and lifestyle offering, extending from the basement through to the rooftop.</p>

<p>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.</p>

<p><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" /></p>

<p>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.</p>

<p>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.</p>


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

<p>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.</p>

<p>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.</p>

<p>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.</p>

<p><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" /></p>

<p>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.</p>

<p>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.</p>

<p>"Dwellings&nbsp;will benefit from excellent access to natural light, cross-ventilation opportunities and extensive communal space," the report noted.</p>

<p>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.</p>

<p>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.</p>

<p><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" /></p>

<p>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.</p>

<p>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.</p>


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

Melbourne

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<p>An undisclosed international and local restaurateur has signed a lease for 349-351 Flinders Lane, Melbourne with plans for a Japanese fusion style offering.</p>
<p>The deal for the 690 square metre ground floor and basement areas which have been operating as Bluestone Bar &amp; Restaurant in the heritage listed building since 2000 was brokered by Teska Carson agent, Richard Munday.</p>
<p>The new tenant will pay $216,500 per annum and plans to refurbish much of the property and offer a menu of Japanese fusion.</p>
<p>"Melbourne has an excellent reputation for its international laneway dining experience and Flinders Lane is one of the most highly sought after with a consistent trading pattern established over several decades and offering very positive growth prospects based on upward trends in both population and tourism,’’ Munday said.</p>
<p>The lessor is a Melbourne based private investor.</p>
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j.ballantyne1990-6AQqhLzZaK

Restaurateur leases Flinders Lane premises with Japanese fusion plans

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<p>Over the March 2018 quarter, resales of Melbourne properties generated $3.865 billion worth of profits.</p>
<p>There were $33.3 million in losses with the inner Melbourne having the highest number of loss takers, $8 million plus in losses, each property sold at a loss averaged minus $48,000.</p>
<p>According to the latest Pain &amp; Gain report from CoreLogic, Melbourne generated 26% of total resale profits nationally over the quarter as well as producing 7.8% of total resales losses.</p>
<p><img src="https://www.urban.com.au/images/PG%20Graph%203-1.JPG" alt=""></p>
<p>Over the quarter; there were no resales at a loss in a number of council regions; Cardinia; Macedon Ranges; Mitchell; Moorabool; Murrundindi and Nillumbik.</p>
<p>The council regions with the highest proportion of resales at a loss were Melbourne, Stonnington and Yarra.</p>
<p>With dwelling values now starting to fall, particularly for houses, the share of houses and units resold for a loss rose over the quarter.</p>
<p>Click to <a href="https://www.propertyobserver.com.au/images/PG%20Graph%203-2.JPG" target="_blank">enlarge</a></p>
<p><img src="https://www.urban.com.au/images/PG%20Graph%203-2.JPG" alt="" width="732" height="708"></p>
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Melbourne resales have generated billions of dollars in profit: CoreLogic Pain & Gain

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<div>EG has sold its 277 William Street, Melbourne offices to an undisclosed Hong Kong investor.</div>
<div> </div>
<div>EG, a large Australian hedge fund, exchange contracts for the sale at $93.88 million.</div>
<div> </div>
<div>The Australian Financial review suggested it was bought by one of Hong Kong's richest families, the Fu family's KHI Holdings Group at a yield of 4.65 per cent.</div>
<div> </div>
<div><span>The acquisition was the first in Australia for the company that dates back to 1947 when Y.C. Fu established the Tak Kee Shipping &amp; Trading Company, then later branching out in hotel development with Furama Hotels.</span></div>
<div> </div>
<div>The 12-storey office building was originally acquired by the EG Core Plus Fund No.1 in November 2015 for $45.9 million.</div>
<div> </div>
<div>EG re-let over 70% of the property and undertook significant cosmetic and plant and machinery upgrades during the hold period. </div>
<div> </div>
<div>The WALE of the property was also increased from 3.3 years to 3.9 years.</div>
<div> </div>
<div>After a number of unsolicited approaches, EG decided to put 277 William Street on the market.</div>
<div> </div>
<div>The building has a net lettable area of 12,080 sqm, 32 car bays and is located nearby Flagstaff Train Station and the Queen Victoria Markets.</div>
<div> </div>
<div>EG's Daniel Farley said rhe property has been "much improved during our hold period," to become a quality B grade asset boasting a strong leasing success rate and excellent environmental credentials.</div>
<div> </div>
<div>The purchaser was represented by Vantage Investments through CBRE and JLL.</div>
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EG doubles its money in 277 William Street, Melbourne office sale

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<p>The latest batch of Melbourne planning applications revealed for public consumption includes hundreds of new apartments and a hotel development for a long-forgotten Cremorne site.</p>

<p>A combined 250 apartments are earmarked for Southbank and Oakleigh sites.</p>

<p>The former sees a Rothelowman-designed apartment development for 153-159 Sturt Street on Southbank. Having gone through a heavy redesign relative to what was initially submitted for approval during 2017, the tower now sports a new exterior dynamic.</p>

<p>Initially laden with greenery, the towers rebirthed design is stripped of plant life in favour of a more typical exterior finish. Other significant changes to the building include a height reduction to 56 metres or 18 levels, apartments numbers falling to 145 and the inclusion of arts studio spaces within the podium.</p>

<p>As it stands, the project for entity Sturt St Pty Ltd is headed for VCAT. Had this not been the case, Melbourne City Council indicated earlier this week that the project would have gained support in its revised form.</p>

<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/image85_2.jpg" rel="gallery-all" title="Initial and revised designs for Sturt Street. Planning images: Rothelowman"><img alt="" class="image-article-full-width-580px" height="296" src="/sites/urban.melbourne/files//styles/article_full_width_580px/public/pictures/article-images/image85_2.jpg?itok=OZDG8l8w" title="Initial and revised designs for Sturt Street. Planning images: Rothelowman" width="580"></a>

<figcaption>Initial and revised designs for Sturt Street. Planning images: Rothelowman</figcaption></figure><p>Oakleigh too is in for another noteworthy apartment project as 35-41 Dalgety Street makes its way through planning.</p>

<p>RotheLowman features once more as project architect, this time on behalf of Gaffney Properties Pty Ltd. Taking the Dalgety and Atkinson Streets intersection the 3,520 square metre site is slated for 105 apartments and townhouses, split between 8 single, 60 double and a substantial 28 triple bedroom options.</p>

<p>Currently a dated brick office and warehouse complex, 35-41 Dalgety Street finds itself in a pocket of Oakleigh adjacent to Dandenong Road, that is increasingly turning to medium and large sized apartment projects. <a href="/buildings/oros-807-811-warrigal-road-oakleigh">Oros</a> is the prime development nearby currently at sales, with 300 plus apartments and a serviced apartment component planned.</p>

<p>From a design perspective, Rothelowman assert "the size of the site and its Commercial 1 Zoning allows for a more intensive form of development that will make a positive contribution to the public realm. The replacement of the existing low-grade brick building will introduce a high quality contemporary architectural language to the area."</p>

<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/image87_4.jpg" rel="gallery-all" title="The rear aspect of 35-41 Dalgety Street. Planning image: Rothelowman"><img alt="" class="image-article-full-width-580px" height="291" src="/sites/urban.melbourne/files//styles/article_full_width_580px/public/pictures/article-images/image87_4.jpg?itok=uIqKcRXG" title="The rear aspect of 35-41 Dalgety Street. Planning image: Rothelowman" width="580"></a>

<figcaption>The rear aspect of 35-41 Dalgety Street. Planning image: Rothelowman</figcaption></figure><p>Perhaps even more of a design statement is a new hotel proposal for a long disused site opposite the carsales.com.au head office. Adjacent to CityLink and covering a triangular site at 1-3 Harcourt Parade, Idle Architecture Studio has come up with a novel design for what is currently an at-grade car park.</p>

<p>Key to the design is a mid-building electronic advertising void that would replace two existing major promotion signs on the corner of Punt Road and Harcourt Parade. Either side of the signage, 104 hotel rooms have been included whilst the levels accommodating the signage are handed over to conference and ancillary hotel facilities.</p>

<p>Mantello Holdings are behind the project which at 11 levels would be shorther than the adjoining Nylex Sign on the Richmond Maltings site directly behind. Heritage advice put forward by advisory Trethowan notes that the "subject site does not interfere with this landmark status (of the Nylex Sign) and has less visual impact than the existing advertising billboards and the approved redevelopment of the Maltings site itself."</p>

<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/image91_5.jpg" rel="gallery-all" title="Cremorne corner. Planning image: Idle Architecture Studio"><img alt="" class="image-article-full-width-580px" height="392" src="/sites/urban.melbourne/files//styles/article_full_width_580px/public/pictures/article-images/image91_5.jpg?itok=icxGulWZ" title="Cremorne corner. Planning image: Idle Architecture Studio" width="580"></a>

<figcaption>Cremorne corner. Planning image: Idle Architecture Studio</figcaption></figure>
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silvermb

Oakleigh, Cremorne and Southbank in line for significant developments

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<span><span lang="en-GB">Mirvac Group</span></span><span><span lang="en-US"> has announced the signing of global law firm Norton Rose Fulbright to its Olderfleet building at 477 Collins Street Melbourne. </span></span>
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<span><span lang="en-US">Norton Rose Fulbright will occupy the top floors of the 'cutting-edge' commercial building, with t</span></span><span>he firm committed to 5,100 square metres on levels 35 to 38.</span>
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<div><span><span lang="en-US">Mirvac is working closely with Grimshaw Architects and Carr Design to bring Olderfleet to completion, with construction on the first of the office floors well underway.</span></span></div>
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<div><span><span lang="en-US">Mirvac has secured a partnership to provide smart lighting throughout the building with Enlighted, a world-leading provider of IoT platforms for smart buildings, and Honeywell, a global Fortune 100 software-industrial company, to deliver workplace performance monitoring technology.</span></span></div>
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<div><span><span lang="en-US">Olderfleet will be the first commercial building in Australia to roll out this new system to help tenants and building managers track activity in the workplace, leading to 'cost efficiencies and better performance'.</span></span></div>
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<div><span><span lang="en-US">As part of the system, the Enlighted sensors will be placed in each LED lighting fixture to capture data on power, temperature, motion and ambient lighting via bluetooth beacons.</span></span></div>
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<div><span>By pairing this with smart data analytics, tenants can gain a deeper understanding of workplace efficiency.</span></div>
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<div><span>All data will be available via a tenant portal to allow tenants, employees and building managers to make changes to the office environment in real time.</span></div>
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<div><span><span lang="en-US">“We are proud to announce our partnership with Enlighted and Honeywell, to deliver on our promise to create a building with world-leading technology that provides the optimum environment for our tenants. It’s an exciting development for us,” added Mr Healy.</span></span></div>
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<div><span style="font-family: arial;"><span lang="en-US">Norton Rose Fulbright will be joining anchor tenant Deloitte, who has committed to over 26,000 square metres of office space, upon completion in 2020.</span></span></div>
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<div><span style="font-family: arial;"><span lang="en-US">Mirvac successfully sold down a 50 per cent interest in the development to Suntec REIT in 2017</span></span></div>
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477 Collin Street's Olderfleet to be model for the "technologically optimised workplace" 

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<p dir="ltr">Teska Carson is marketing a warehouse/showroom property leased to Carpet Call on the Nepean Highway at Bentleigh in Melbourne’s south-eastern bayside suburbs.</p>
<p dir="ltr">The property will be auctioned on June 29 on site at 909 Nepean Highway.</p>
<p dir="ltr">The property comprises a single level, solid brick, 435 square metre facility with rear roller door access and eight designated car spaces within a 46 space car park.</p>
<p>It is located on a very well established showroom strip with Autobarn.</p>
<p>Bob Jane T-Marts, Forty Winks, Beacon Lighting, Kennards Hire and Hungry Jacks among others, the property is commercial 2 zoned.</p>
<p>The property will be sold subject to a three year lease from April 2017 to Carpet Call at $122,620 per annum net.</p>
<p>According to marketing agents, Teska Carson’s Luke Bisset and Michael Ludski, the high profile location is exposed to approximately 60,000 passing cars per day, making it an ideal position for showroom businesses.   </p>
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Carpet Call, Bentleigh premises listed for sale

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<p>The slowdown in house price growth that emerged through 2017/18 is expected to continue into the 2019 financial year, according to leading industry analyst and economic forecaster, BIS Oxford Economics.</p>
<p>BIS believe house prices in Melbourne will tread water through to 2020/21, rising below the pace of inflation.</p>
<p>They suggest that one of the biggest factors in the lack of median house price growth is the new supply which is continuing to rise.</p>
<p>They are forecasting just a one percent per year increase in the median house price, before an emerging downturn in new dwelling construction results in the city’s deficiency starting to trend upwards by 2020/21, which in turn will see a modest pick up in price growth.</p>
<p>A six percent growth in the median house price in the three years to June 2021 is what BIS are forecasting.</p>
<p>The median house price soared 65 percent over the five years to June 2017, with a further growth of two percent in the six months to December 2017, before a 0.2 percent drop in the first half of 2018.</p>
<p>Population growth and new dwelling supply have been cited as the biggest drivers in the median increase.</p>
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<p>Investors drove the strength of the market in Melbourne, although not to the same extent as in Sydney.</p>
<p>Loans to owner occupiers in Victoria were also at record levels in the year to March 2018, which has helped to offset the weakening investor demand. Consequently, the house prices in Melbourne have held up better in 2017/18 compared to the decline in Sydney.</p>
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<p>Sydney’s median house price is forecast to still be lower that its June 2017 peak by 2021.</p>
<p>The weaker investor demand is coinciding with rising supply and an erosion of the city’s dwelling deficiency, which has alleviated pressure on prices.</p>
<p>Although the market is expected to remain in undersupply, the drop in investor demand is expected to override the undersupply of dwellings, which in turn is forecast to result in modest price declines.</p>
<p>Angie Zigomanis, BIS Oxford Economics senior manager, said more downside is forecast for Sydney.</p>
<p>“In New South Wales and Victoria in particular, where the strength of investor demand has been a key driver of the Sydney and Melbourne residential markets respectively, the decline in investor activity has impacted price growth,” said Zigomanis.</p>
<p>“More downside is forecast for Sydney as it has had a much greater dependence on investors through the most recent upturn.”</p>
<p>“Similarly, greater downside is expected in the unit market, which is more reliant on the investor market to drive sales and price growth.</p>
<p>"Without the same level of investors and without the same growth in new supply, the detached housing market should hold up better compared to units.”</p>
<p>BIS suggests Brisbane is expected to see the greatest upside to house prices over the next few years due to Queensland's net interstate migration increasing.</p>
<p>Price rises are expected to be modest over the next two years, however BIS see a price growth acceleration in 2021.</p>
<p>Perth and Darwin have bottomed out, and any recovery in prices will be a slow grind.</p>
<p>Excess stock, low population growth and weak economic and employment growth are the biggest drivers, suggests BIS.</p>
<p>They find a similar story in Adelaide, with a subdued economic environment and limited population growth also having a dampening effect on prices.</p>
<p>Hobart and Canberra are expected to continue their strong growth in 2018/19.</p>
<p>The lack of supply in Hobart is continuing to drive their price growth upwards.</p>
<p>Price growth in Canberra began to slow in 2017/18, but BIS expects that, due to the relatively high incomes in the capital, there will be further house price growth over the next two years.</p>
<p>Both markets are expected to decelerate through to 2020/21 as new dwelling supply rises and affordability becomes more strained.</p>
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<p>Zigomanis says that with the banks tightening the screws on investors, the increased restrictions on their borrowing capacity have reduced the likelihood of investors bidding up prices.</p>
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<p>This has caused all markets, with the exception of Hobart, to record a slowdown in price growth performance over 2017/18.</p>
<p>Notably, after experiencing strong gains since 2012/13, house price growth is on track to have recorded a negative number in Sydney and Melbourne through the year.</p>
<p>Both these markets benefited most from booming investor demand, and the tightening credit conditions are now having an impact.</p>
<p>However, the prospect for a major correction will be mitigated by low interest rates and a relatively stable, albeit subdued, economic environment.</p>
<p>Very strong population growth nationally is also underpinning occupancy, which in turn should help investors generate rental income, albeit perhaps at a discounted rate in some cities.</p>
<p>This will prevent excessive forced sales coming to the market to drive down prices.</p>
<p>“Supply is running at record levels, having risen above 200,000 dwelling completions per annum in 2015/16, and expected to stay above this level through to 2018/19,” said Zigomanis.</p>
<p>“Demand has also risen, with population growth expected to exceed 400,000 persons in 2017/18, its highest level since the peak in net overseas migration in 2008/09, although this will still not be sufficient to meet supply.”</p>
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jrobinson-rf4aSBido9

Melbourne house prices forecast to tread water through to 2020/21: BIS

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<p>Melbourne's median house price is set to be largely flat until 2020, while apartment values are likely to decline, according to the latest forecast from BIS Oxford Economics.</p>
<p>BIS have predicted declines in the apartment market, suggesting there are likely to be pockets of oversupply across Melbourne.</p>
<p>They believe unit prices will fall by a total of two percent in the three years to June 2021.</p>
<p>Angie Zigomanis, BIS Oxford Economics senior manager, said the supply is meeting the high population growth.</p>
<p>“Soaring population growth in Victoria is expected to be a key to house prices in Melbourne as investor demand continues to weaken, by supporting owner occupier demand,” said Zigomanis.</p>
<p>“While new dwelling completions are forecast to continue to rise through 2018, as the large pipeline of apartment buildings under construction work their way to completion, supply will be largely met by population growth.”</p>
<p>They have a stronger forecast for the housing market, although expect prices to remain relatively flat.</p>
<p>BIS expect just a one percent per year in the median house price, before an emerging downturn in new dwelling construction results in the city’s deficiency starting to trend upwards by 2020/21, which in turn will see a modest pick up in price growth.</p>
<p>They anticipate a six percent growth in the median house price in the three years to June 2021.</p>
<p>The median house price soared 65 percent over the five years to June 2017, with a further growth of two percent in the six months to December 2017, before a 0.2 percent drop in the first half of 2018.</p>
<p>Population growth and new dwelling supply have been cited as the biggest drivers in the median increase.</p>
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<p>Investors drove the strength of the market in Melbourne, although not to the same extent as in Sydney.</p>
<p>Loans to owner occupiers in Victoria were also at record levels in the year to March 2018, which has helped to offset the weakening investor demand. Consequently, the house prices in Melbourne have held up better in 2017/18 compared to the decline in Sydney.</p>
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BIS see greater weakness in Melbourne apartment market

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<p>House values in Melbourne's inner south are set for the biggest price drop over the next two years, according to Moody's Analytics CoreLogic's Hedonic House Value Index.</p>
<p>The latest figures suggest the area will see a 2.5 percent house price value drop, followed by a 5.5 percent decrease in 2019.</p>
<p>House values in the inner south area fell in April for the first time since the end of 2012.</p>
<p>Housing supply has ramped up significantly in recent years and remains elevated by historical standards, with a strong pipeline of completions ahead.</p>
<p>This correction in the housing demand/supply balance is likely to see home values in Melbourne’s inner suburbs continue to decline, CoreLogic suggest. </p>
<p>The weakness is expected to be most acute in the inner south, where home values are projected to fall until mid-2020.</p>
<p>Similarly, apartment prices in the Inner South are projected to start falling from mid-2018, before firming by mid-2019.</p>
<p>For Melbourne-Inner and the Inner East, home values are expected to fall until the first half of 2019, after which a modest recovery is likely to take hold.</p>
<p>Apartment prices there are expected to hold up relatively well, with the price gains likely to continue.</p>
<p>Click here <a href="https://www.propertyobserver.com.au/images/2018/6/21/vic-home-value.jpg" target="_blank">to enlarge.</a></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/2018/6/21/vic-home-value.jpg" alt=""></p>
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<p>Melbourne's house price growth has slid for 11 consecutive months and fell in April to a 62-month low of 3.1 percent y/y.</p>
<p>The slowdown is most pronounced in Melbourne’s inner suburbs. House values in Melbourne's inner east edged up just 0.3% y/y, a 11⁄2-year low.</p>
<p>Apartment price growth is also cooling. Apartment values in Greater Melbourne were up 5.7% y/y in April, a 15-month low, with the Inner South leading the slowdown.</p>
<p>The downswing has not been confined just to Melbourne’s inner suburbs, with house values across Victoria generally rising at a slower pace.</p>
<p>In Melbourne’s outer suburbs, where house prices recorded stellar double-digit growth through 2017, growth has also decelerated markedly.</p>
<p>Annual house price growth is down at a 38-month low in the North East; a 35-month low in the North West; a 19-month low in the Outer East; a 16-month low in the South East; a 34-month low in the West, and a 20-month low in the Mornington Peninsula.</p>
<p>Geelong is bucking the trend in the rest of Victoria. </p>
<p>Click here <a href="https://www.propertyobserver.com.au/images/2018/6/21/rest-of-vic.jpg" target="_blank">to enlarge.</a></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/2018/6/21/rest-of-vic.jpg" alt=""></p>
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<p>It saw a 10.6 percent house price value increase in 2017, and is set to see those prices soar another 12.3 percent this year and then a further 11.2 percent in 2019.</p>
<p>Ballarat is set to see consistent house price growth, as is the north west region.</p>
<p>Sydney's biggest drops are predicted to be in Ryde and the inner city and south areas while Brisbane has seen off the worst of its price falls.</p>
<p>Nationally there's set to be a cool, but no crash.</p>
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Melbourne's inner south property values to fall the most: Moody's Analytics

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<p>When he returns from the World Cup in Russia, veteran Socceroo Tim Cahill may be landing at a different airport.</p>
<p>The Sydney-born midfielder looks to be jacking in his life in Melbourne with a move back to New York on the horizon.</p>
<p>He'll no doubt be wanting to spend more time on his hobby farm in Byron Bay that he acquired late last year.</p>
<p>He was forced to leave Melbourne City in search of game time before the World Cup, which he found back in England where he made his name as one of Australia's greatest ever footballers.</p>
<p>He's listed the <a href="https://www.realestate.com.au/property-house-vic-lower+plenty-128639154" target="_blank">Lower Plenty home</a> he bought in late 2016 having signed for Melbourne City when returning from China. </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/2018/6/20/cahill2.jpg" alt=""></p>
<p>It's been renovated under his interior designer wife Rebekah.</p>
<p>Cahill is looking to take advantage of Melbourne's strong property market in the last 18 months.</p>
<p>Having paid $2,775,000 18 months ago, he's now seeking offers between $3.5 million and $3.85 million through Morrison Kleeman agents Rocco Montanaro and Malcolm Perkins who sold him the home.</p>
<p>There's a nod to Cahill's ownership in the marketing.</p>
<p>The renovated living room with flat screen TV has the Russia 2018 World Cup on the screen (below).</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/2018/6/20/cahill3.jpg" alt=""> </p>
<p>The home has six bedrooms, five bathrooms, a state of the art theatre room and a swimming pool on its 4,180 sqm parcel</p>
<p>Cahill is in Russia hoping to become just the fifth player to score at four different World Cups.</p>
<p>He is Australia's highest ever goal scorer and helped the Socceroo's through qualifying with crucial goals against Syria.</p>
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