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

Joel Robinson

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

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

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

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

Bottega House secures landmark riverfront site in St Lucia 

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

SIERA kicks off construction at Northcliffe tower Exhale

Local Little Bay residents, along with buyers from premium postcodes across Sydney’s affluent Eastern Suburbs, have dominated purchases in developer-builder Urban Property Group’s first Eastern Suburbs apartment development, <a href="https://www.apartments.com.au/new-apartments/este-little-bay-jennifer-street-little-bay-nsw-2036">ESTE Little Bay</a>.

The $250 million coastal project, one of the first new developments in the area in several years, has proven particularly popular with downsizers, especially those from Coogee and Bondi. One Double Bay downsizer paid $4.7 million for a four-bedroom penthouse, setting a new local apartment price record in the process.

Buyers have been attracted to the combination of coastal tranquillity, premium design and amenity-rich neighbourhood living. The walkable village setting, along with proximity to three of Sydney’s leading golf courses, New South Wales Golf Club, St Michael’s Golf Club and The Coast Golf Club, has also been a key drawcard.

[smartcode_project:default project_id=112343 project_image_fid=352689]

Built across two low-rise buildings designed by <a href="https://www.apartments.com.au/architects/hill-thalis-architecture-urban-projects-pty-ltd">Hill Thalis</a> and set along a lush, landscaped green spine, designed by leading landscape architect <a href="https://www.apartments.com.au/landscape-architect/arcadia-landscape-architecture">Arcadia</a>, ESTE Little Bay offers a collection of one, two, three and four-bedroom residences with interiors by Richards Stanisich.

<a href="https://www.apartments.com.au/developers/urban-property-group">Urban Property Group</a> Sales Director, Tom McIvor said the response to ESTE has been "nothing short of extraordinary."

“Buyers have been quick to recognise ESTE as a rare opportunity to invest in a coastal sanctuary that offers both seclusion and connectivity to the heart of Sydney,” McIvor said.

[smartcode_project:default project_id=112343 project_image_fid=352687]

<a href="https://www.apartments.com.au/project-marketer/srm-residential">SRM Residential</a> Senior Director, <a href="https://www.apartments.com.au/project-marketer/srm-residential">Clayton Ross</a> said the local market has responded incredibly well, driven by ESTE’s exceptional location and the rarity it offers.

“We’ve seen strong interest from a variety of buyer groups, all of whom are drawn to the exclusivity and quality of the build and construction by the 4.5-star iCIRT-rated builder / developer, Urban Property Group. There’s truly nothing else like it along Sydney’s coastline.”

[smartcode_project:default project_id=112343 project_image_fid=352690]

The project also includes robust buyer protections, including Resilience Insurance’s Latent Defects Insurance, providing 10 years of structural cover, and an independent iCIRT-rating of the developer.

“The iCIRT-rating adds another layer of confidence,” Ross added. “Buyers see it as a safeguard for their investment and their lifestyle.” A highlight of ESTE’s offering is its exclusive wellness amenities, including a heated rooftop infinity pool and outdoor heated spa, a state-of-the-art Technogym fitness centre, and a sauna.

<a href="https://www.apartments.com.au/new-apartments/este-little-bay-jennifer-street-little-bay-nsw-2036">ESTE Little Bay</a> is topped out and is on track to complete towards the end of 2026, with residents moving in before Christmas.

[smartcode_project_cta:default project_id=112343]

Eastern Suburbs buyers snap up ESTE Little Bay apartments

Melbourne

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Melbourne's North East was the region that had the highest weekend clearance rate in Melbourne, according to CoreLogic.
The clearance rate was 77.3% across 207 auctions in the week ending February 25.
<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/2018/2/26/corelogic%202.jpg" alt="">
A Doreen four bedroom house has been sold at auction for $670,000 (pictured above).
It was sold by Millership &amp; Co on February 24.
Easily accessing to schools, transport and shops,<a href="https://www.realestate.com.au/sold/property-house-vic-doreen-127505714" target="_blank"> the </a><a href="https://www.realestate.com.au/sold/property-house-vic-doreen-127505714" target="_blank">13 Kossatz Terrace house </a>features three living areas, Blanco equipped kitchen and an open study. 
A three bedroom townhouse in Bundoora, another North East suburb in Melbourne, has been sold at auctions for $628,000.
It was sold by Mary Ali from Raywhite on February 24.
<a href="https://www.realestate.com.au/property-townhouse-vic-bundoora-127378218" target="_blank">The 6 Greenwich Crescent</a> home (pictured below) comes with three bedrooms with BIR, study nook, and a lock up garage with car space.
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j.ballantyne1990-6AQqhLzZaK

Melbourne's North East the weekend auction hotspot: CoreLogic

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Businesses requiring industrial space for transport and logistics are driving Melbourne’s industrial property market, committing to 332,389sq m of warehouse space throughout 2017, according to Savills Australia.
The company’s latest Industrial Briefing reveals these sectors accounted for 43 percent of the total 770,936sq m leased in the 12 months to December 2017.
Savills Melbourne’s Associate Director of <a href="http://www.savills.com.au/research/australian-research.aspx" target="_blank">Research</a>, Monica Mondkar, said that although the total space leased was down on the 928,154sq m reported to be leased by the end of 2016, it remained 11 percent above the 10-year average of 696,765sq m.
“The trend toward online sales is a key factor behind the continued growth in demand for warehouse and distribution centres,” she said. 
“This has been benefitting Melbourne’s west in particular, due to its relative affordability and proximity to the Port of Melbourne, which is Australia’s largest container port.”
Ms Mondkar said Melbourne’s western industrial precinct, which was the most affordable of all precincts, had been consistently increasing its share in the city’s industrial leasing market.
“The western suburbs now account for 46 percent of Melbourne’s total leasing activity, as compared to 35 percent 12 months ago,” she said.
Of the 354,205sq m of industrial space (tenancies more than 2,000sq m) leased in Melbourne’s western industrial precinct in the 12 months to December 2017, 63 percent, or 224,645sq m, was secured by the transport and logistics sectors across 19 leases. 
“This figure represents a whopping 57 percent increase in take-up on the previous year, pushing absorption from transport-oriented businesses to record-high levels,” Ms Mondkar said.
The report briefing highlights 35 lease deals in Melbourne’s west in 2017, 11 more than in 2016, with 14 leases for more than 10,000sq m.
Savills Melbourne’s Director for <a href="http://www.savills.com.au/services-and-sectors/industrial.aspx" target="_blank">Industrial &amp; Business Services</a>, Greg Jensz, said an undersupply in serviced land availability had driven prices, particularly for smaller lots.
“With the increase in underlying land prices, incentives to lease are expected to drop and face rents should grow from circa $75 to $80 per sqm for larger buildings 10,000 sqm plus, and from $80 per sqm up to mid-to-high $80 per sqm for mid-sized buildings between 5,000sq m and 8,000sq m,” he said.
Looking forward, Ms Mondkar referred to several infrastructure projects under development and in the pipeline, which would benefit Melbourne’s industrial markets by improving connectivity, reducing travel times, and expanding the transportation network.
“The West Gate Tunnel Project will provide a second river crossing at Maribyrnong and an alternative to the West Gate Bridge, with direct access to Port Melbourne,” she said.
“When this happens, more logistics-oriented companies will seek to set up in Melbourne’s western industrial precinct.
“In addition, the state government has announced a $1.8 billion public-private partnership to upgrade about 700 kilometres of arterial road network through the western suburbs, which will further augment industrial demand in those areas.
“Lastly, the federal government initiative to develop a $10.9 billion inland rail line between Brisbane and Melbourne will drastically improve the last-mile delivery process, and drive a considerable amount of industrial development to the proposed route in Melbourne’s western corridor.”
Savills is a leading global real estate service provider offering the full spectrum of services from strategic advice to managing assets and projects and transacting deals. Monica Mondkar is Associate Director of <a href="http://www.savills.com.au/research/australian-research.aspx" target="_blank">Savills Research &amp; Consultancy</a> and Greg Jensz is Director of <a href="http://www.savills.com.au/services-and-sectors/industrial.aspx" target="_blank">Savills Industrial &amp; Business Services</a>. To learn more about Savills, visit <a href="http://www.savills.com.au" target="_blank">savills.com.au</a>.
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jrobinson-rf4aSBido9

Transport and logistics fuel Melbourne’s industrial leasing market: Savills Australia

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The Rich List property developer Paul Little has quit multi-unit Melbourne apartment construction.
He will instead start construction on hotel and student accommodation projects.  
Little was last year ranked 64th on the Financial Review Rich List with an estimated wealth of $927 million.
Little Projects will continue to develop smaller townhouse projects targeted at owner-occupiers.
But Little told the AFR he was being "very cautious" in the residential area and unlikely to start larger projects.  
"We've effectively removed ourselves from the high-rise market currently and focussed on areas such as a hotel in the city and student accommodation," Little said.  
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<div class="cq-article-content-media section">Little noted investors were now "effectively walking away" and Asian buyers were looking to places other than Australia. </div>
<div class="cq-article-content-paras section">
"Our change in direction occurred probably 12 months ago," Mr Little said.
"It was pretty obvious the residential market was going to become more difficult and we changed our strategies around different products".
"Developers that haven't changed their 'sweet spot' are probably going to be doing very little or struggling."
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Paul Little confirms he's out of Melbourne apartment high rise construction

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The Melbourne suburbs, Moonee Ponds and Plumpton, ranked first when it comes to the biggest recent increase in stock for sale. 
Moonee Ponds apartment stock is up 188 percent, from 33 units this time last year to its current 95 offerings. Many are off the plan apartments. 
The house stock in Plumpton has increased from 106 houses this time last year to its current 266 houses. The growth is up 151 percent. Many are building lots.
Investar puts median rental of Moonee Ponds at $360 a week, and Plumpton $430 a week.
The median unit value of Moonee Ponds sits on $462,500, and the median house value of Plumpton is $495,000, according to CoreLogic.
A one bedroom apartment currently on the market in Moonee Ponds is a Homer Street offering which priced at $459,500 off the plan.
The <a href="https://www.realestate.com.au/property-apartment-vic-moonee+ponds-127391798" target="_blank">1402/55 Homer Street </a>apartment comes with one bedroom, one garage space and north facing balcony (pictured top).
A two bedroom apartment has been sold for $477, 500 this January. 
Situated on the 11th floor within the MONDO apartment building, the 1102/341 Ascot Vale Road apartment is close to public transport, shops and restaurants. 
Another apartment in Moonee Ponds sold for $402,000 last year. 
Located in Moonee Ponds shopping precinct,<a href="https://www.realestate.com.au/sold/property-apartment-vic-moonee+ponds-125806106" target="_blank"> the </a><a href="https://www.realestate.com.au/sold/property-apartment-vic-moonee+ponds-125806106" target="_blank">4/40 Young Street apartment</a> also came with two bedrooms (pictured below).
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A four bedroom Plumpton house sold for $488,000 in July last year.
Set on<a href="https://www.realestate.com.au/sold/property-house-vic-plumpton-125887566" target="_blank"> 98 Aspire Boulevard</a>, the Porter Davis built home came with open study and large central kitchen.
Another Everest Street offering has been recently on the market (below) as a 325 sqm building opportunity at $307,000.
<a href="https://www.realestate.com.au/property-residential+land-vic-plumpton-202032486" target="_blank">The 315 Everest Street</a> lot offering has been marketed as suitable for a  house with three bedrooms, two bathrooms and an expansive family, dining and kitchen area.
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Moonee Ponds and Plumpton rank top in Investar biggest stock increase, VIC

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Frasers Property Australia has purchased a 23 hectare parcel of industrial land in Braeside from Saltview Pty Ltd, a Hudson Conway subsidiary company.
Lynton Williams from Savills brokered the deal.
The land parcel is located on the corner of Governor Road and the proposed Mordialloc Bypass in Melbourne’s South-Eastern suburb of Braeside.
The acquisition of Braeside has been described as a natural extension of its 116 hectare The Key Industrial Park in Keysborough, which is approaching completion.
Braeside’s masterplan will comprise a mix of options including land sales, A-grade buildings for leases and turnkey opportunities for owner-occupiers.
Braeside estate is located adjacent to Mordialloc Bypass with construction set to commence by mid-2019. 
Frasers Property has recently completed several transactions in The Key Industrial Park including a 16,000sqm turnkey warehouse for ARB ($19.4 million) and ten year leases with Stanley Black &amp; Decker (21,722sqm), CH2 (21,200sqm), Silvan (11,948sqm), Rubies Deerfield (9,030sqm). The Stanley Black &amp; Decker and CH2 facilities are owned by Frasers Logistics &amp; Industrial Trust.
These combined transactions total $122 million worth of new purpose-built facilities. To date Stanley Black &amp; Decker and ARB have moved into the estate, while Silvan, Rubies Deerfield and CH2 are all expected to move into their warehouses in the first half of this year.
Frasers Property has also recently sold 16 lots in The Key Industrial Park – Stage 8 ranging in size from 1,999sqm to 4,071sqm totalling $17.4 million.
Braeside estate is expected to launch in mid-2018. 
 
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Savills secure Hudson Conway sale at Braeside

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The auction of a two-storey, three-bedroom Richmond townhouse - set inside Channel 9’s former Melbourne television studios - failed to draw more than a curious audience, with the offering passed in on a $1.85 million vendor bid.
But Melbourne regained its mantle as the hottest auction market, when some 72.5 per cent of the 520 reported auctions sold, followed by Adelaide at 68.9 per cent.
<a href="https://www.realestate.com.au/property-townhouse-vic-richmond-127327718" target="_blank">The Richmond offering</a> (pictured above) comes with a $1.95 million asking price having been listed by the boss of First National Real Estate, Ray Ellis.
The townhouse with soaring ceilings was bought by Ellis at $1,725,000 in 2014.
Originally built in the 1900's by the Wertheim piano manufacturers, it went on to become the Heinz soup factory before General Televsion Corporation bought the site in 1955.
The Herald Sun reported former Hey Hey It’s Saturday star John Blackman was among the onlookers, having worked in the building. 
The residential conversion of the former television studio lot was undertaken by Lend Lease as part of the $400 million housing village, dubbed Studio Nine. The offering sits directly under the Television City sign etched onto the front red brick facade on the tree-lined Bendigo Street.
Jellis Craig auctioneer Jonathon O’Donoghue placed two vendor bids before the property passed in at $1.85 million.
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This week across the nation's capital cities, auction volumes continued to increase with 1,464 homes returning a preliminary clearance rate of 67.7 per cent.
It was up from the 62 per cent across 790 auctions last week, as listings grow after the summer break.
CoreLogic auction analyst Kevin Brogan noted over the same week last year 1,591 auctions were held with a stronger 73.2 percent clearance rate. 
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Sydney secured the nation's top auction result, but it was a close contest.
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There was a $3,028,000 apartment sale at Kirribilli which edged out a $3 million Abbotsford house sale in Sydney's inner west.
The three bedroom <a href="https://www.realestate.com.au/sold/property-apartment-nsw-kirribilli-127332762" target="_blank">61/29 Carabella Street</a> offering (above) had been listed with $2.5 million expectations through Nigel Mikhi at McGrath.
The <a href="https://www.realestate.com.au/sold/property-house-nsw-abbotsford-127142554" target="_blank" rel="noopener noreferrer">14 Irene Street Abbotsford offering</a> was a three bedroom single storey home on 700 sqm. It last sold in 2003 at $1,052,000.
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Sydney was host to 517 auctions this week and a preliminary clearance rate of 68.7 per cent was recorded, rising from 57.1 per cent last week across 216 auctions.
The strongest of Sydney's 15 sub-regions were the Eastern Suburbs (85.2 per cent), the Northern Beaches (79.1 per cent) and the Inner West (75 per cent) regions. 
The lowest clearance rate was across the Sutherland Shire where 46.7 per cent of the 30 reported auctions were successful.
Melbourne's strongest clearance was recorded across the Mornington Peninsula, where 85 per cent of the 20 reported auctions were successful. 
Melbourne's top sale was on the peninsula when $2.45 million was paid at McCrae. The 3610 sqm corner lot set over three titles cam with an updated three-bedroom, three-bathroom residence.
The <a href="https://www.realestate.com.au/property-house-vic-mccrae-127336210" target="_blank" rel="noopener noreferrer">1-7 Burrell Street offering</a>, 200 metres from the beach, was marketed by Hockingstuart for its development potential. It was listed for the first time in more than 30 years when the blocks fetched around $100,000 each.
The preliminary clearance rate in Brisbane was 53.8 per cent, up from 45.6 per cent last week. 
An Ipswich offering at <a href="https://www.realestate.com.au/property-house-qld-rosewood-127285694" target="_blank" rel="noopener noreferrer">38 Bassett Lane, Rosewood</a> was the nation's cheapest capital city result. The five bedroom house on 1320 sqm sold for $200,000. It had traded at $315,000 in pre-gfc 2008.
Meanwhile the Gold Coast secured a 65.4 per cent success rate of its 26 reported auctions.<img src="file:///page1image89720" alt="page1image89720" width="228.801620" height="0.648885" data-imagetype="External"> 
In Adelaide, a 68.9 per cent preliminary result was recorded across 78 auctions. Last week, 98 Adelaide auctions returned a clearance rate of 70.2 per cent.
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The top sale was $1,405,000 for a <a href="https://www.realestate.com.au/property-house-sa-st+peters-127269766" target="_blank" rel="noopener noreferrer">1925s classic sandstone-fronted bungalow on 935 sqm at St Peters </a>(pictured below). The 16 Ninth Avenue home was marketed as ideal canvas for an ambitious renovator or home builder.
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Perth’s clearance rate of 29 per cent across 31 auction results was lower than last week, when 30 auctions were held and a clearance rate of 47.4 per cent was recorded. 
Over the same week last year Perth was 25 per cent, and 74 auctions were held.
Perth sales included <a href="https://www.realestate.com.au/property-house-wa-marangaroo-127270702" target="_blank" rel="noopener noreferrer">a $452,000 result for a home</a> at Marangaroo, described as a four bedroom, two bathroom plus study, quality built Peter Stannard home that was a first home buyers dream.
Across Canberra, 73 homes were taken to auction. Preliminary results show a clearance rate of 67.7 per cent, up from 62.2 per cent the previous week.
Tasmania was host to 11 auctions this week and of the eight reported some five successful sales. 
<a href="https://www.realestate.com.au/property-house-tas-south+burnie-127314854" target="_blank" rel="noopener noreferrer">A three bedroom South Burnie home</a> (pictured below) was passed on on a $500,000 vendor bid. It had been transformed onto a modern home since selling at $200,000 in 2015.
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Melbourne auctions strongest of the nation in early results

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The West Melbourne, Festival Hall, owned by the family of the legendary sports impresario John Wren since 1915, is set to be listed for sale with redevelopment plans.
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Cousins Chris and John Wren – directors of the business that operates Festival Hall – have lodged plans with the City of Melbourne for a two-tower $65 million redevelopment.
The Wren family plan to sell it with a permit for the mixed-used scheme designed by architects Rothelowman.
"We're not developers," Chris Wren, a planning lawyer and director of the family owned Stadiums Pty Ltd, told The Australian Financial Review. 
The premises opened with a boxing match on Cup Eve 1913 under the stars. During Wren's ownership there was boxing on Friday nights, wrestling on Saturday, with Wenesday's a mix of vaudeville or light boxing matches.
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<div>A two-tower development has been proposed with 1400 square metres of commercial space and 179 apartments.</div>
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At a time when many moralists regarded gambling as a racket, John Wren obtained great power and wealth over the decades until his death in 1953.
He was the thinly disguised subject of author Frank Hardy's 1950 novel Power Without Glory.
His 2004 biographer James Griffin wrote that Wren's defamations were still current - and even this week one national newspaper described Wren inappropriately as a "crime boss." 
Chris Wren said John Wren (top and below) would not have been sentimental about the site.
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<div>"He would have told us to sell the place ages ago," he said.</div>
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<div>The City of Melbourne has placed an interim heritage order on the site, which they hope to have overturned.</div>
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<div>The building on the site was rebuilt to host boxing events in 1955 after fire destroyed the original structure.</div>
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<div>It has since hosted bands including the Beatles, The Seekers and the Rolling Stones.</div>
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<div>Music guru Molly Meldrum said it would be a shame to lose the 5400-person hall which had lost business since the completion of a retractable roof on the Margaret Court Arena in 2014 drew acts and promoters away.
Festival Hall is the last of a string of event venues the family business once owned in the east coast capitals including premises at Rushcutters Bay in Sydney and Brisbane.
The Collingwood based John Wren bought the three boxing stadiums in 1915 from silver medial Olympian boxer, R L "Snowy" Baker and undertook the Festival Hall roofing at a 230,000 pounds cost.
Sydney held 11,000, Melbourne 7,000 and Brisbane held 5,000.
Laid off work during the 1890s depression, Wren launched his Johnston Street totalizator with a stake bolstered by his 1890 Carbine Melbourne Cup victory gambling coup.
In Victoria his probate was valued at £1,003,946.
 
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jchancellor-FAypfDUnLy

John Wren's family up for fight with Festival Hall redevelopment proposal

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Caydon's $1 billion redevelopment of Melbourne’s landmark 1960s Nylex clock site is a step closer after the developer secured Victorian Civil and Administrative Tribunal approval for its second stage.
It includes a revised plan for a 15-storey apartment building to be erected at the Gough Street Cremorne mini-suburb site.
A 14-storey building will also be built, with the total redevelopment to consist of three significant buildings.
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Nine of the site’s original 16 silos will be retained as part of the redevelopment, including adaptation for use as a hotel, art gallery, wellness centre and a visitor centre.
The iconic Nylex clock will tell the time once again after it is restored and reinstated over the new development with what has been dubbed the Malt District.
Caydon's Joe Russo has welcomed the decision.
The VCAT decision referred to the proposal as a “seductive, sophisticated and subtle design."
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It was 2014 when the set was purchased by Caydon for $38 million.
Caydon owned next door, once occupied by Beaver Plastics, taking their holding to around 1.6 hectares.
The site has been part of Melbourne’s brewing history since the late 1800s.
The 11,340 square metre site had previously attracted interest from developers when restoration projects were proposed in 2002 and 2004. 
The Nylex Clock featured in Paul Kelly’s late 1980s song 'Leaps and Bounds', with the band filmed performing on top of the tower.
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This week the City of Yarra Mayor Daniel Nguyen said it was disappointing that Council’s concerns about the scale of the Nylex site development were not reflected in VCAT’s final decision.
Stage one is progressing with prices in the <a href="http://maltdistrict.caydon.com.au/coppins-corner/" target="_blank">Coppins Corner</a> building starting from $496,000 for its one bedroom apartments; two bedroom apartments from $660,000, three bedroom apartments from $1,242,000 and SOHO apartments from $1,570,500.
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Nylex site finally gets chance to proceed in leaps and bounds

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Melbourne's inner-city unit market has been pinpointed in Terry Ryder's latest Hotspotting’s No Go Zones 2018 report.
Ryder warns investors to steer clear of apartments in the CBD, Southbank and Docklands in particular, citing concerns around oversupply and high rental vacancy rates.
Ryder said the impact of oversupply was frequently underestimated.
“Over-supply causes rents to fall and that drags down property values,’’ he warned.
It was the first time for several years that no regional, resource town in Queensland had been on the list.
Hotspotting founder Terry Ryder said in the report that the “single biggest danger” for investors this year was “buying apartments in some of our major cities”.
“Given that Melbourne, Brisbane, Perth and Darwin already have, or are heading towards major surpluses of inner-city apartments, and Sydney, Adelaide and the Gold Coast are trending in that direction, a good strategy for property investors is to simply avoid high-rise unit markets altogether,” he wrote.
Ryder warned while “the optimists” had suggested Melbourne’s population growth was strong enough to absorb its substantial unit development, many of the apartments being built were unlikely to appeal to local renters.
<div id="celtra_holder_news">“Many of the new high-rise projects have been specifically targeted at foreign investors. The size and layout of the properties don’t necessarily suit Australian residents,” he said.</div>
“This lessens the appeal of the apartments and reduces the size of the target market, thus causing downward pressure on rents and prices.”
The report advised that 4.2 per cent of properties available for rent in Southbank were vacant in November 2017, along with 3.4 per cent in Docklands and 2.8 per cent in the CBD.
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While down from November 2016, they sat well above greater Melbourne’s November 2017 vacancy rate of 1.8 per cent, according to SQM Research.
Ryder’s report said State Government figures showed 20,000 residential properties across inner and middle Melbourne sat vacant.
Some 93,000 units were in the pipeline for construction across the city over the next two years — although it was unlikely they would all be built.
An <a href="https://www.realestate.com.au/sold/property-apartment-vic-southbank-126881530" target="_blank">18th level, two bedroom apartment</a> in Southbank's The Guilfoyle complex (top and above), sold has just sold for $475,000, having last traded for $530,000 in 2010. 
Ryder’s “no go” zones also included three Queensland markets — inner-city and northside Brisbane, and high-rise Gold Coast — along with the WA localities, Kalgoorlie-Boulder, Perth inner-city, and Port Hedland and Karratha.
SA’s Whyalla and units in Parramatta, NSW, rounded out the 10. 
The No Go Zones report said the Olympic Park area, which includes Homebush, Breakfast Point and the suburb of Olympic Park itself, was becoming “prominent for all the wrong reasons”.
Sharp increases in the number of homes available have coincided with a decline in sales, while the number of rental properties currently vacant recently climbed to 4 per cent — double the Sydney average.
Other nearby suburbs such as Wentworth Point and Rhodes also “entered the danger zone”, according to the report.
Ryder urged investors to examine a market’s vacancy rates and building approvals to gauge potential oversupply before taking the purchase.
He also advised speaking to local “real estate professionals”, namely valuers and buyer’s agents.
In Hotspotting’s Top 5 Melbourne Hotspots 2018, Mr Ryder named the Hume, Wyndham, Melton, Epping and Casey precincts as the city’s best bets for buyers this year, each offering affordability, solid infrastructure and closeness to major employment networks.
 
 
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jonathanchancellor-7SQnKwU6yx

Why inner city Melbourne tops Terry Ryder's 2018 No Go Zones report 

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McGrath Estate Agents, a division of McGrath Limited, has opened a Coburg/Brunswick office in Melbourne’s inner north. 
McGrath operates 10 offices in the southern state. 
McGrath executive director John McGrath said Melbourne is a vital market in the Australian real estate landscape.
"It has performed very strongly over the past 12 months and while the market is starting to slow, I believe Melbourne still has opportunity for good growth in the long term, albeit slower growth in the short term.
"And I believe a breather is healthy for any boom markets," McGrath said.
“Melbourne is a city people want to live and invest in, which is reflected in its high rates of population growth, strong jobs market and many liveability accolades. 
"However as price growth moderates, the next six to 12 months will offer good buying opportunities for those looking to break into one of the nation’s most sought after markets in a truly international city,” said McGrath. 
McGrath Coburg/Brunswick will be led by Michael Chan and Tania Toti, who will oversee a team of 13 agents. 
It will service the key suburbs of Brunswick, Brunswick East, Brunswick West, Coburg, Coburg North, Pascoe Vale South, Pascoe Vale and Fawkner.
“Lifestyle is a key driver for the Coburg, Pascoe Vale and Brunswick markets. The region is culturally rich with a lively village feel. Proximity to the CBD and Melbourne University, good transport links and a diverse selection of eateries and bars attracts a wide range of buyers,” said Mr Chan.
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The region has experienced healthy price growth with Coburg houses rising in value by 46.9% over the past three years to $990,000, Pascoe Vale houses have increased in value by 47.9% to $850,000, while Brunswick has experienced growth of 51.8% over the same period to $1,151,000.
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