<p>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.</p>

<p>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.</p>

<p>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.</p>

<p>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.</p>

<p>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.</p>

<p><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" /></p>

<p>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.</p>

<p>“Our target for this exceptional development is local and overseas buyers, including first-home buyers, downsizers and investors,” Choong said.</p>

<p>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.</p>

<p>“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.</p>

<p><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" /></p>

<p>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.</p>

<p>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.</p>

<p>The proposal also includes a commitment for 10 per cent of residential floor space to be allocated toward affordable housing through a monetary contribution.</p>

<p>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.</p>

<p><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" /></p>

<p>“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.</p>

<p>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.</p>

<p>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.</p>

<p>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>.</p>

<p><em>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></em></p>


Joel Robinson

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

<p><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.</p>

<p>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.</p>

<p>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.</p>

<p><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" /></p>

<p>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.</p>

<p>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.”</p>

<p>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.</p>

<p><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" /></p>

<p>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.</p>

<p>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.</p>

<p>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.</p>

<p><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" /></p>

<p>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.</p>

<p>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.</p>

<p>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.</p>


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

<p>Bottega House has completed settlement of a landmark riverfront site in Macquarie Street, St Lucia, representing its first major Brisbane development.&nbsp;</p>

<p>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;</p>

<p>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;</p>

<p>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;</p>

<p>Exclusive sales for the project will be led by Keenan &amp; Byrne, ahead of an anticipated launch later this year.&nbsp;</p>

<p>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;</p>

<p>“This is an incredibly rare riverfront opportunity and one we have approached with a long-term perspective,” Malloch said.&nbsp;</p>

<p>“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."</p>

<p>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;</p>

<p>"Demand is expected to be strong given the scarcity of premium riverfront opportunities of this nature within Brisbane’s inner-west."&nbsp;</p>


Bottega House secures landmark riverfront site in St Lucia 

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<p data-end="157" data-start="0">The arrival of the first piling rig officially marks the commencement of construction at SIERA’s new beachside apartment development, Exhale, in Northcliffe.</p>

<p data-end="459" data-start="159"><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.</p>

<p data-end="459" data-start="159">[smartcode_project:default project_id=112661 project_image_fid=359603]</p>

<p data-end="651" data-start="461"><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.</p>

<p data-end="950" data-start="653">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.</p>

<p data-end="1081" data-start="952">“The façade was designed to maximise panoramic coastal views while creating a distinctive architectural identity,” Thompson said.</p>

<p data-end="1081" data-start="952">[smartcode_project:default project_id=112661 project_image_fid=355935]</p>

<p data-end="1307" data-start="1083">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.</p>

<p data-end="1522" data-start="1309">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.</p>

<p data-end="1522" data-start="1309">[smartcode_project:default project_id=112661 project_image_fid=361052]</p>

<p data-end="1714" data-start="1524">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.</p>

<p data-end="1945" data-start="1716">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.</p>

<p data-end="1945" data-start="1716">[smartcode_project:default project_id=112661 project_image_fid=359607]</p>

<p data-end="2220" data-is-last-node="" data-is-only-node="" data-start="1947">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.</p>
</section>
</section>

<p>[smartcode_project_cta:default project_id=112661]</p>


SIERA kicks off construction at Northcliffe tower Exhale

<p data-end="320" data-start="79">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>.</p>

<p data-end="638" data-start="322">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.</p>

<p data-end="864" data-start="640">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.</p>

<p>[smartcode_project:default project_id=112343 project_image_fid=352689]</p>

<p>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.</p>

<p><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."</p>

<p>“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.</p>

<p>[smartcode_project:default project_id=112343 project_image_fid=352687]</p>

<p><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.</p>

<p>“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.”</p>

<p>[smartcode_project:default project_id=112343 project_image_fid=352690]</p>

<p>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.</p>

<p>“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.</p>

<p><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.</p>

<p>[smartcode_project_cta:default project_id=112343]</p>


Eastern Suburbs buyers snap up ESTE Little Bay apartments

Melbourne

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<p>A retail property within one of Melbourne’s most iconic retail shopping villages has been listed for sale via auction.</p>
<p>Originally a post office until 1996, the property is close to Canterbury Train Station.</p>
<p>Known as the Maling Room, the 930 sqm corner property sits within Maling Road Village in the Canterbury retail strip.</p>
<p>It was initially listed in May last year with an expected price of around $6 million through Colliers International, having been under the same ownership for over 100 years. </p>
<p>The auction is on December 8.</p>
<p>Sitting at the corner of Maling Road and Canterbury Road, the two-level freestanding building has a net lettable area of 790sqm and is fully leased to five local retail tenants, including The Maling Room café, Bendigo Bank, Tim’s Bookshop, Nourish on Maling and Micky Junior Shoes.</p>
<p class="p1">The listing agents are CBRE’s Nathan Mufale, Rorey James, Jing Jun Heng and Mark Wizel.</p>
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j.ballantyne1990-6AQqhLzZaK

Former post office in Melbourne's Canterbury listed for auction 

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<div>Sportsbet chief executive Cormac Barry secured the sale of his three-bedroom South Yarra offering, amid Melbourne's record auction spree ahead of the Spring racing carnival interlude.</div>
<div> </div>
<div>Barry's punt of putting it up for auction on Super Saturday paid off handsomely when <a href="https://www.realestate.com.au/sold/property-house-vic-south+yarra-126560498" target="_blank">the double fronted Victorian-era home on Nicholson Street</a> (above) fetched $2.4 million.</div>
<div> </div>
<div>It was $175,000 over reserve after keen competition between three homebuyers.</div>
<div> </div>
<div>Last traded at $1.48 million in 2011, it had come with a pre-auction price guide of $2.1 million to $2.3 million.</div>
<div> </div>
<div>The listing had a celebrity connection too as fashion designer Bettina Liano had previously owned the charming Victorian home, selling it in 2007 at $1.35 million.</div>
<div> </div>
<div>Melbourne had the nation's cheapest weekend offering when $237,000 secured a Brunswick West one bedroom apartment.</div>
<div> </div>
<div>The top floor 38 sq m 1970s apartment at <a href="https://www.realestate.com.au/property/17-558-moreland-rd-brunswick-west-vic-3055" target="_blank" rel="noopener noreferrer">17/558 Moreland Road</a> had been tipped to fetch $235,000.</div>
<div> </div>
<div>The unit last sold at $235,500 in 2010. It had been listed for most of the past year with $265,000 hopes, having been rented at $285 a week. </div>
<div> </div>
<div>The top sale across the nation was a <a href="https://www.realestate.com.au/property-house-nsw-waverton-126499226" target="_blank" rel="noopener noreferrer">$7,168,000 Waverton sale</a> in Sydney through McGrath Estate Agents.</div>
<div> </div>
<div>The 30 Larkin Street five bedroom home was built on a 560 sq m block bought in 2006 for $2.2 million.</div>
<div> </div>
<div>A three-storey house in Strathfield, sold for $6.6 million, some $600,000 over the reserve.</div>
<div> </div>
<div>Melbourne's dearest result was a $6.4 million pre-auction sale of an Edwardian home at <a href="https://www.realestate.com.au/sold/property-house-vic-toorak-126554194" target="_blank" rel="noopener noreferrer">659 Orrong Road, Toorak</a> followed by another five bedroom home at 33 Grant Street, Malvern East which fetched $6,125,000.</div>
<div> </div>
<div>It was a <a href="https://www.realestate.com.au/sold/property-house-vic-malvern+east-126555914" target="_blank" rel="noopener noreferrer">three-year old Canny-built</a> home.</div>
<div> </div>
<div>Canberra took the baton as the capital city with the strongest weekend auction clearance rate of 77.1 percent sold under the hammer.</div>
<div> </div>
<div>Prices ranged between $330,000 at Belconnen and $2,235,000 at O'Connor.</div>
<div> </div>
<div>The <a href="https://www.realestate.com.au/property/3-syme-cres-oconnor-act-2602" target="_blank">Syme Crescent five bedroom house</a> (below) was a modern home with pool on its 960 sq m block.</div>
<div> </div>
<div>
<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/2017/10/30/Canberra1.jpg" alt=""> </div>
<div> </div>
<div>The one bedroom cheapie at <a href="https://www.realestate.com.au/property-apartment-act-belconnen-126644962" target="_blank" rel="noopener noreferrer">231/41 Chandler Street</a> had been tipped to fetch $359,000 plus.</div>
<div> </div>
<div>The 17th floor Altitude apartment enjoyed water and mountain views.</div>
<div> </div>
<div>Canberra’s clearance rate was 77.1 per cent this week across 128 auctions, up from 68.2 per cent last week across 71 auctions.</div>
<div> </div>
<div>Melbourne recorded its busiest auction week on record, securing a 71.7 percent success rate from 1,983 auctions. It was down on the prior preliminary 73.3 percent tally.</div>
<div> </div>
<div>Melbourne's bumper auction volume surpassed the previous peak in late November 2015 when 1,876 auctions were held, Corelogic calculated amid nascent signs of Spring listings overload.</div>
<div> </div>
<div>Sydney also saw a substantially higher volume of auctions with 1,196 homes taken to auction, though recording a weakening clearance rate of 64.1 per cent.</div>
<div> </div>
<div>"Sydney’s clearance rate has been consistently below 65 per cent since the first week of October," according to CoreLogic's auction commentator Kevin Brogan.</div>
<div> </div>
<div>The Super Saturday saw zero auction commentary before or after from Domain's senior economist Dr Andrew Wilson, who has been with the soon to float group since October 2010.</div>
<div> </div>
<div>The usually prolific Dr Wilson has not tweeted since the prior weekend when he was duly undertaking official duties at the Sydney Property Expo.</div>
<div> </div>
<div>The Australian Financial Review coverage relied, unusually, just on CoreLogic. Domain's Sydney auction coverage came from a Melbourne correspondent, amid their gushing Block coverage.</div>
<div> </div>
<div>This week, the combined capital cities saw the number of auctions held reach a new year-to-date high according to CoreLogic, with a total of 3,690 held, surpassing the previous 2017 high recorded over the week prior to Easter when 3,517 auctions were held.</div>
<div> </div>
<div>The higher volumes returned a national auction clearance rate of 67.8 per cent.</div>
<div> </div>
<div>"Historically auction volumes have peaked around late November/early December; so if this trend holds true this year, we could see new records being set for auction volumes as the Spring season concludes," Brogan suggested.</div>
<div> </div>
<div>The other capital city auction markets were mixed with Brisbane recording the lowest clearance rate of just 47.1 percent.</div>
<div> </div>
<div>There were 188 Brisbane auctions, virtually unchanged from 47 percent last week across 174 auctions and similar to one year ago when there were 192 auctions with a success rate of 46.6 per cent.</div>
<div> </div>
<div>Brisbane's unsuccessful auctions included a classic Queenslander which was passed in at $2.05 million in Paddington.</div>
<div> </div>
<div>
<a href="https://www.realestate.com.au/property-house-qld-paddington-125561114" target="_blank">The five bedroom Tooth Avenue home</a> (below) came with polished timber floors, high ceilings and VJ walls.</div>
<div> </div>
<div><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/2017/10/30/BRISBANE1.jpg" alt=""></div>
<div> </div>
<div>A total of 143 Adelaide homes were taken to auction with a preliminary clearance rate of 70 per cent. </div>
<div> </div>
<div>Adelaide's cheapest result was $246,000 at Para Hills.</div>
<div> </div>
<div>
<a href="https://www.realestate.com.au/property-house-sa-para+hills-126532846" target="_blank" rel="noopener noreferrer">The three bedroom 1962 brick home</a> had last sold at $180,000 in 2008.</div>
<div> </div>
<div>There were 46 Perth auctions, with 54.5 per cent clearing, rising from last week when 44 auctions were held and 40 per cent cleared.</div>
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jchancellor-FAypfDUnLy

Melbourne hands reins to Canberra as weekend auction success rate weakens in gallop to list

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<p class="noindent">A 2,435 sqm development site in Williamstown has been bought by a Chinese national for $4.5 million.</p>
<p class="noindent">Savills sold the vacant corner property at <a href="https://www.realcommercial.com.au/property-land+development-vic-williamstown-502443422" target="_blank">9-27 Kororoit Creek Road</a> with residential zoning.</p>
<p>The land, sold by VicRoads, is opposite the North Williamstown railway station.</p>
<p>Its level crossing is being converted into an overpass.</p>
<p>The site has been in the hands of VicRoads since the 1970s for the purposes of widening the road.</p>
<p>It was subsequently abandoned due to widening on the northern side of the road. The land has been declared surplus. </p>
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Savills sells Williamstown sites to Chinese national

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<p>US doughnut giant Krispy Kreme's securing an outlet at Bulleen Plaza is part of a trend where fast food retailers are looking to expand across Melbourne. </p>
<p>Earlier this year, the doughnut retailer moved into a site previously occupied by Hungry Jacks, signing a 10-year lease over the 280 sqm property.  </p>
<p>It has more than 19 outlets nationally.</p>
<p>In NSW, Krispy Creme's outlets are at Auburn, Central Station (Sydney CBD), Liverpool - Factory Shop, Mascot -Factory Shop, Penrith and two shops at Sydney’s airport.</p>
<p>In Queensland, Krispy Kreme has its stores at Brisbane Qantas Domestic Terminal, Myer Centre (CBD), Pacific Fair and Shell Nudgee.</p>
<p>In Victoria, they are at Collins St (CBD), Fountain Gate - Factory Shop, Melbourne T1 Qantas, Melbourne T3 Virgin, Melbourne T4 and Swanston Street in the CBD.</p>
<p>In Western Australia, it’s at Myaree, Whitford City Centre - Factory Shop</p>
<p>In South Australia, it is run as a separate business.</p>
<p><img src="https://www.urban.com.au/images/2017/10/20/KrispyKreme.png" alt=""></p>
<p>The lease for Bulleen Plaza was negotiated by CBRE’s Chris Parry and Tom Perkins.</p>
<p>Located in Melbourne’s north-eastern suburbs, Bulleen Plaza is a neighbourhood shopping centre anchored by a Coles supermarket and more than 60 retail stores. </p>
<div>Hungry Jacks relocated to a new space in a joint venture with Shell Petroleum.  </div>
<div> </div>
<div>“The transaction highlights the strong interest from fast food retailers looking to expand into the Melbourne metropolitan market, particularly in areas which are seeing high levels of customer footfall such as the north-east,” said Parry. </div>
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Krispy Kreme brings its doughnuts to Melbourne's Bulleen Plaza  

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<p class="p1">Office leasing figures for the Melbourne CBD (size above 500 square metres), show total of 400,053 sqm was leased in the 12 months to September 2017, an increase of nearly 31% over the five-year average, according to Savills Research.<span class="Apple-converted-space"> </span></p>
<p class="p1">The Finance and Insurance services sector absorbed 76,631 sqm of this space, 87% of which was prime grade.</p>
<p class="p1">“Take-up by the Financial services sector was quite remarkable, the highest in five years and up by 110% over the past 12 months,” said Monica Mondkar, associate director of Research at Savills.   </p>
<p class="p1">“Another major triumph for the sector was securing a position amongst the top three occupier categories in the CBD after a five year period. Demand from the Financial and Insurance sector has finally turned a corner, which has previously been contracting since September 2010,” said Mondkar.</p>
<p class="p1">Australian Bureau of Statistics counted financial services at 9% of GDP, the largest share by industry type in the national context, which is also a historical high for the sector.<span class="Apple-converted-space"> </span></p>
<p class="p1">Financial services’ GDP contribution has surpassed the housing and construction industry and is the leading economic driver, creating wealth and adding jobs, she added.</p>
<p class="p1"><a href="https://www.propertyobserver.com.au/images/2017/10/23/Savills0.jpg" target="_blank">Click 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/2017/10/23/Savills0.jpg" alt=""></p>
<p class="p1">“Lending services and insurance firms, benefitting from Victoria’s population and construction boom, have been key drivers for the office take-up by the financial services industry. Also, there is pent-up demand from financial planners upgrading or expanding their footprint into the CBD, profiting from a rise in the number of investors favouring alternative investments over the risk-free government bonds (amid a low-interest rate environment).”</p>
<p class="p1">Savills director of Office Leasing, Phillip Cullity, said a number of factors were behind the massive surge in financial sector leasing, including jobs and population growth in Victoria, lease expiries, staff retention and recruitment, and efficiency gains.</p>
<p class="p1">“The Financial Services sector, in particular, has been proactive in taking advantage of market conditions, locking in rents and incentives before rents begin to rise considerably,” Phillip Cullity said.</p>
<p class="p1">“Tenants now realise that, as they are in competition for the best young talent, they must offer modern accommodation that includes the latest building and technology services, meeting and fitness facilities, access to transport, childcare and cafes.’’</p>
<p class="p1">Occupiers were also increasingly mindful of the need for more efficient buildings in reducing costs, a key motive for relocation to higher grade properties. </p>
<p class="p1">One-in-five enquiries for office space in the Melbourne CBD in the first nine months of 2017 had come from insurers and financial services providers, added Cullity. </p>
<p class="p1">Other major financial services moves on the horizon include NAB’s 66,000 square metres pre-commitment to 405 Bourke Street and Vanguard Investments considering 10,000 square metres at Cbus’ Collins Arch project.  </p>
<p class="p1">The overall reported CBD leasing activity was marginally up on the 394,997 square metres leased in the 12 months prior. Supply constraints have been having an impact on the market. To put this in perspective, Melbourne CBD’s vacancy rate declined to 6.5% at July 2017 from 7.1%  a year ago.</p>
<p class="p1">66% of the total leased space was Prime grade. Direct leases measured 219,874 square metres, while 148,942 square metres was pre-committed space. Growth in pre-committed space was at record high levels, up 350% from 12 months prior. </p>
<p class="p1">The make-up of Melbourne CBD’s occupiers is diverse with the Government &amp; Community sector continuing its domination at 39%, followed by Property &amp; Business Services at 32% and Financial &amp; Insurance ranking the third largest sector by leasing 19%. </p>
<p class="p1">“We can expect a number of significant leases to be concluded prior to the Christmas holiday period resulting from a strong pipeline of occupier requirements in the market,” Cullity said.</p>
<p class="p1">Savills tenant enquiry analysis revealed current tenant enquiries (above 500 square metres) measure about 250,000 square metres, all to be leased between the remainder of 2017 and 2018 in the CBD. </p>
<p class="p1">“Last year Melbourne CBD’s net absorption was 128,000 square metres which smashed the 10-year average at 76,000 square metres, and all indications are suggesting that we are in for another strong year.With vacancy levels forecasted to fall further, outlook over the next 12–18 months is expected to be very positive,” Mondkar said.<span class="Apple-converted-space"> </span></p>
<p class="p1">NAB’s monthly Business Conditions Index was at 14 points in September 2017 – almost three times the long-run average (+5). Victoria’s economy continues its drive with the strongest population growth in the nation and a major focus on jobs growth.</p>
<p class="p1">Latest ABS figures reveal that the largest year on year increases in employment were recorded in Victoria (up 96,791 persons) in August 2017. “What is notable about the Victorian economy is that growth in full-time jobs has been material over the last year indicating stronger employment metrics for Victoria,” according to Ms Mondkar. </p>
<p class="p1">Growth in professional job advertisements in VIC (4.37%) remained considerably higher than the 2.14% national average. Professional job ads have been consistently positive in Victoria over the last three years with job advertisements in August 2017 at their highest level since May 2012.<span class="Apple-converted-space"> </span></p>
<p class="p1">“This is clearly reflected in positive net absorption numbers in Melbourne CBD. With growth in professional job ads still strong in the current quarter, it would be prudent to expect this to translate to continued CBD net absorption performance over the 2017-18 period,” said Mondkar.</p>
<p class="p1"><span style="font-size: 12.16px;"> </span><a href="https://www.propertyobserver.com.au/images/2017/10/23/Savills1.jpg" target="_blank" style="font-size: 12.16px;">Click 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/2017/10/23/Savills1.jpg" alt=""></p>
<p>Monica Mondkar is an Associate Director of Research in Savills Melbourne. 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. To learn more about Savills, visit <a href="https://www.savills.com.au" target="_blank">savills.com.au</a></p>
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jonathanchancellor-7SQnKwU6yx

Finance and insurance leasing at five-year peak: Savills

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<p>Melbourne's median house price growth moderated in the September quarter, according to the REIV, as new policy initiatives increased sale volumes at the lower end of the market. </p>
<p>Outer Melbourne dominated the top 20 growth suburbs this quarter as buyers looked for affordable entry points to the market. </p>
<p>The seaside suburb of Dromana was the city’s best performing with its median house price increasing 15 per cent on June figures to $790,250. Sunbury, Ringwood East and Diamond Creek also experienced double-digit quarterly growth. </p>
<p>Broadmeadows made the top 10 growth locations, with its $595,000 median price reflected in the brick veneer offering (above) which had redevelopment potential.</p>
<p>The latest REIV data shows the metropolitan Melbourne house price recorded its lowest increase in almost two years, up just 0.7 per in the September quarter to $817,000. </p>
<p>The REIV Acting President Richard Simpson said the moderation was attributable to 44 per cent of all sales in the September quarter being below $600,000. </p>
<p>“In the June quarter we saw vendors with houses around that $600,000 price point hold off selling in order to capitalise on greater competition from first homebuyers.” </p>
<p>“These incentives have certainly worked with first homebuyers accounting for 18.3 per cent of all new home loans in August - the highest since September 2013.” </p>
<p>“Despite the moderation, the market remains strong with the Melbourne median house price up a remarkable 14 per cent on the same period last year. We’re also seeing buyer demand continue to outstrip supply and a high level of vendor confidence.” </p>
<p>“Given the strength of the market at present, buyers are looking for new growth areas which offer value without the need to compromise on amenities or infrastructure.” </p>
<p>“Increased competition for homes further from the city is boosting the median house price in many of these areas, with all of the city’s most affordable suburbs experiencing significant annual growth.” </p>
<p>Mr Simpson added that the city’s inner ring recorded the strongest growth of any region in the September quarter with its median house price increasing 1.5 per cent to just over $1.5 million. </p>
<p>“Buyer demand within 10km of the CBD remains strong, which is being supported by a shortage of quality stock.” </p>
<p>Apartment prices were also impacted by the Government’s first homebuyer initiatives with the citywide median falling for the first time in six quarters, down 2.5 per cent to $587,000. </p>
<p>Meanwhile, house prices in regional Victoria increased for the third consecutive quarter, up 1.2 per cent to $385,000. </p>
<p>TOP GROWTH SUBURBS – SEPTEMBER QUARTER (min 30 sales) </p>
<p>Suburb                      Sep-17         Median Quarterly Change </p>
<p>DROMANA                $790,250            15% </p>
<p>SUNBURY                $518,000            14.5% </p>
<p>BALWYN NORTH      $2,105,000         13.8% </p>
<p>RINGWOOD EAST    $1,030,000          13.2% </p>
<p>LALOR                    $682,500              12.8% </p>
<p>DIAMOND CREEK    $813,100              11.9% </p>
<p>BENTLEIGH            $1,610,000          11.8% </p>
<p>RICHMOND            $1,442,000          10.8% </p>
<p>ELTHAM                  $945,000                9.8% </p>
<p>BROADMEADOWS $595,000                9.7%</p>
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Dromana leads price growth, but Broadmeadows in catch up: REIV

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<p class="x_description">Jockey Brad Rawiller’s trackside Ascot Vale townhouse was among the Melbourne weekend offerings that just got across the line.</p>
<p class="x_description">Rawiller and his wife Carolyn secured $980,000 post-auction for their <a href="https://www.realestate.com.au/sold/property-house-vic-ascot+vale-126399910" target="_blank" rel="noopener noreferrer">three-bedroom riverside townhouse</a> (picture above) located just across the road from the Flemington Racecourse.</p>
<p class="x_description">It was sold by the upsizing couple shortly after being passed in at $970,000, having been their home for 17 years. It last traded at $380,000 in 2000, reflecting 5.6 percent annual price growth.</p>
<p class="x_description">Rawiller was at Caulfield where he rode Burning Front into second place in the Moonga Stakes.</p>
<p class="x_description">Next weekend Melbourne get's its traditional spike in pre-Derby Day-Cup Day Super Saturday listings.</p>
<p class="x_description"><span class="contextualExtensionHighlight ms-font-color-themePrimary ms-border-color-themePrimary ident_670_784">There are around 1700 homes set to go under the hammer, which will be an all-time record for a Melbourne Saturday.</span></p>
<p class="x_description">Saturday will present buyers with the biggest choice of homes since the pre-Easter 2016 Super Saturday when 1598 homes went under the hammer.</p>
<p><span class="contextualExtensionHighlight ms-font-color-themePrimary ms-border-color-themePrimary ident_929_1040">With more than 1000 homes up for auction next weekend, Sydney will have its second biggest weekend of the year.</span></p>
<p>"The market will be well and truly tested next weekend," Domain chief economist Dr Andrew Wilson said.</p>
<p>A total of $500 million worth of property was reported sold across Melbourne over the weekend, with Sydney buyers wagering around $300 million on their property outlays.</p>
<p>The national preliminary auction clearance rate sat below 70 percent, according to CoreLogic.</p>
<p>The combined capital cities returned a preliminary auction clearance rate of 69.4 per cent this weekend.</p>
<p>The trend towards softer auction market conditions has been led by the Sydney market, Kevin Brogan, the CoreLogic auction analyst said.</p>
<p>Auction volumes were similar week-on-week, with 2,471 properties taken to auction, compared to 2,525 last week.</p>
<p>This time last year a clearance rate of 78.1 per cent was recorded.</p>
<p>Melbourne had the priciest declared weekend sale across the nation when a Parkville terrace fetched $5.6 million.</p>
<p class="x_description">It was the grand two storey home of architect Roger Wood, the co-founder of Wood Marsh, and his wife Shelley Lasica.</p>
<p class="x_description">The <a href="https://www.realestate.com.au/property-house-vic-parkville-126461554" target="_blank" rel="noopener noreferrer">108 Park Drive</a> property, an 1880s charmer had a $3.8 million reserve with Nelson Alexander Carlton North agent Peter Stephens who told the Herald Sun four bidders pursued the three-bedroom house.</p>
<p>The couple paid $965,000 in 2002 before the renovation which included putting in a 12m-long wine cellar.</p>
<p>There was also a $6.56 million undisclosed sale in Hawthorn. The 10 Riversdale Court offering had three bidders, with just the two after it was announced on the market at $5.8 million. </p>
<p><a href="https://www.realestate.com.au/sold/property-house-vic-hawthorn-126512186" target="_blank">Yarrayum</a>, was is a split-level contemporary brick family home with views of the Yarra and the city skylines through a beautiful rare Tulip tree on a 803sqm block.</p>
<p>There was also the undisclosed $6.4 million sale at 18 Coleridge Street, Kew. There were the five bidders after a $6,050,000 bid saw Marshall White auctioneer James Tostevin announce that the <a href="https://www.realestate.com.au/sold/property-house-vic-kew-126484438" target="_blank">five bedroom, five bathroom property</a> was on the market.</p>
<p><span>The <span>private rear garden comes with solar heated in-ground pool designed by Dave Franklin from Franklin Design.</span></span></p>
<p>Melbourne's 73.3 per cent success rate across 1,030 results remained the mainland's strongest market.</p>
<p>There were 1,224 properties taken to auction across the city, up from 1,223 last week when the final clearance rate was recorded at 73.2 per cent.</p>
<p>Over the same week last year, 1,377 auctions were held and a clearance rate of 80.6 per cent was recorded.</p>
<p>Sydney was host to 806 auctions this week with a preliminary clearance rate of 68.8 per cent, up from the final 63.3 per cent tally last week across 928 auctions.</p>
<p>One year ago, 897 auctions were held across Sydney and 82.6 per cent were successful.</p>
<p>The strongest of the 15 sub-regions were the Northern Beaches (83.1 per cent), Eastern Suburbs (78.4 per cent), City and Inner South (78.2 per cent) and North Sydney and Hornsby (74.4 per cent) regions. </p>
<p>But the highest sale came from the Sutherland Shire when $5,020,000 <a href="https://www.realestate.com.au/property-house-nsw-burraneer-126473982" target="_blank" rel="noopener noreferrer">a Burraneer Bay waterfront</a> was sold.</p>
<p>It was a three bedroom home at 10 Wren Place.</p>
<p>Highlands Property Cronulla selling agent David Highland said there had been 80 inspections over the four week marketing campaign withy four contracts issued.</p>
<p>Canberra is closing in on Sydney's spot as the typically second strongest market.</p>
<p>Across Canberra, 72 homes were taken to auction this weekend. Preliminary results show a clearance rate of 68.3 per cent, down from 72.2 per cent the previous week. </p>
<p>Canberra prices ranged between $478,000 at Bonner and $1.399 million in Turner.</p>
<p>The $478,000 sale was a three bedroom townhouse in the Motown complex at <a href="https://www.realestate.com.au/property-house-act-bonner-126599102" target="_blank" rel="noopener noreferrer">15/29 Muriel Stewart Cct</a>.</p>
<p>The <a href="https://www.realestate.com.au/property-townhouse-act-turner-126524470" target="_blank" rel="noopener noreferrer">1/12 Gould Street, Turner</a> triplex four bedroom townhouse offering had sold at 41 million in 2008.</p>
<p>The preliminary clearance rate in Brisbane this week rose to 51.5 per cent, from 46.1 per cent last week. Auction volumes were unchanged week-on-week with 171 homes taken to auction.</p>
<p>Brisbane's outskirts had the cheapest house sale when a three bedroom at Woodridge in Logan City was sold for $225,000.</p>
<p>The <a href="https://www.realestate.com.au/property-house-qld-woodridge-126498734" target="_blank" rel="noopener noreferrer">9 Claverton Street </a>offering had sold in 2014 at $229,000.</p>
<p>In Adelaide, a 66.1 per cent preliminary result was recorded this week across 147 auctions. Last week, 93 Adelaide auctions returned a clearance rate of 65.9 per cent for the city, while at the same time last year, 100 homes were taken to auction, with 71.3 per cent recording a successful result.</p>
<p>Adelaide sales included a sandstone and brick home that <a href="https://www.realestate.com.au/property/22-grant-ave-rose-park-sa-5067" target="_blank" rel="noopener noreferrer">fetched $1.146 million at Rose Park</a>.</p>
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Galloping to sell: Melbourne auction levels at all-time high

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<p>A boutique yoghurt bar has agreed terms on a new lease on Richmond’s popular Swan Street retail strip.</p>
<p>The <a href="https://www.realcommercial.com.au/property-retail-vic-richmond-502419430" target="_blank">186 Swan Street</a> shop spanning 89 sqm was let at more than $55,000 per annum net on a five-year term with options. </p>
<p>The new business will replace a hair dressing salon.</p>
<p>The leasing agents were Teska Carson’s Jack Kelliher and Fergus Evans.</p>
<p>“The deal underlines the value of a main street address on a well-known avenue within a popular city fringe locality,” said Kelliher.</p>
<p>The strip has strong foot traffic and is close to public transport.</p>
<p>Evans added that the Swan Street strip had become very popular among food retailers with several relatively recent entrants including Doughnut Time and Hunky Dory Fish and Burger Bar.</p>
<p> </p>
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Yoghurt bar leases space in Melbourne's Swan Street                      

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<p>A commercial building from where Russian restaurant Nevsky in Melbourne’s Elsternwick operates has changed hands for a sharp 3.7 percent yield.</p>
<p>The sold price of $1.5 million at auction was $200,000 above the reserve.</p>
<p>The <a href="https://www.realcommercial.com.au/property-retail-vic-elsternwick-502553834" target="_blank">476 Glen Huntly Road</a> sold to a local private investor with a three-year lease to Nevsky. There are two more three-year options. </p>
<p>The property returns nearly $56,257 per annum plus outgoings and GST.</p>
<p>The selling agents were Fitzroys Mark Talbot and Chris Kombi.</p>
<p>The two-storey building has an area of 200 sqm and sits on the 132 sqm site zoned Commercial 1.</p>
<p>Kombi said the property is prominently positioned within the Glen Huntly Road shopping strip, close to Coles supermarket and the Orrong Road intersection. </p>
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Nevsky, Russian restaurant site in Melbourne's Elsternwick sold for $1.5 million at auction

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<p>A mid-19th century pub in Melbourne’s inner-city suburb of Abbotsford has changed hands for $3.18 million, well above the reserve price of $2.25 million.</p>
<p>The sale highlights the strong market for pub transactions. </p>
<p>The <a href="https://www.realcommercial.com.au/property-hotel+leisure-vic-abbotsford-502495522" target="_blank">Park Hotel at 191 Nicholson Street</a> was advertised for sale via auction on September 1 through Knight Frank.</p>
<p>It sold on a 2.6 per cent yield.</p>
<p>The property currently returns $83,340 p.a.net. and rent increases are 4 percent annually.</p>
<p>The current lease term of three years ends in 2018 with a further term of 3 years.</p>
<p>It has a front bar, dining room, commercial kitchen, beer garden and upstairs accommodation.</p>
<p>The site area is about 480 sqm.</p>
<p>It was sold by two brothers who had owned the venue as an investment for 35 years.</p>
<p>Selling agents Andrew Greenway and Paul Pellegrino of Knight Frank said the buyer had no intention of redeveloping the building into apartments, a now-common trend with Melbourne's popular pubs, Fairfax Media reported.</p>
<p> </p>
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