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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A recently upgraded Victorian building in Richmond Hill in Melbourne’s inner east was sold to a Melbourne based investor for $1.15 million.
The 3.48 per cent yield brokered by Teska Carson’s Fergus Evans and Tom Maule was for the <a href="https://www.realcommercial.com.au/property-retail-vic-richmond-502485230" target="_blank">410 Church Street</a> property which has three street frontages, is well connected by transport and close to Richmond’s major retail and entertainment precincts.
The two-storey 400 square metre, Victorian building in excellent condition throughout as a result of recent improvements and features an open plan layout providing purchasers with an abundance of options.  
It is currently leased to a skin and laser clinic on a two year term with a two year option at a current net annual rental of $44,995 plus GST.
It last sold in 1988 at $298,000.
The Neighbourhood Residential zoning aims to manage and ensure development respects the identified neighbourhood character, heritage, environmental or landscape characteristics.
The marketing agents are Teska Carson said the area is arguably, Melbourne’s best and most sought after city-fringe precinct with vacancies at an all-time low, and a number of commercial developments with pre-lease agreements are underway.
Nearby a Melbourne based private investor has paid $2.6 million at a Teska Carson auction for a freehold investment property, the recently updated 316 Church Street property which comprises a two storey, 400 square metre, Victorian building on a 290 square metre site with three street frontages including nine metres frontage to Church Street, 30 metres to Darlington Parade and access via a rear laneway.
It sold last year at $2,585,000 and at $2.25 million in 2015.
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jonathanchancellor-7SQnKwU6yx

Victorian building in prestigious Richmond Hill sold on a 3.48 per cent yield

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Lendlease has signed wealth manager AMP as the major tenant in the first of three office buildings at the Melbourne Quarter precinct. 
AMP will lease 9,720 sqm at One Melbourne Quarter on 699 Collins Street. 
The 13-storey building is on track for completion by September 2018, and will also be the new home for Lendlease’s Victorian headquarters and design and engineering firm Arup. 
Lendlease managing director for Urban Regeneration and Infrastructure Development, Mark Menhinnitt, said Melbourne Quarter’s mixed-use precinct had attracted interest from tenants looking to move to Melbourne’s new centre of business activity on Collins Street. 
“Signing a blue-chip tenant like AMP to join us in the heart of the Southern Cross precinct demonstrates how this project promises to revitalise Melbourne’s corporate identity,” Menhinnitt said. 
It is directly opposite Southern Cross Station, overlooking Melbourne’s CBD and Docklands. The precinct will offer green parks, open public spaces and 40 new retail shops, cafes and restaurants. 
More than half the precinct has open green spaces including a Skypark, an elevated new public park on Collins Street that has been a key draw card for businesses. 
One Melbourne Quarter will have now have only one more floor to lease after AMP moves in.
It has been designed by Denton Corker Marshall and the building will target a 6 Star Green Star rating and a 5 star NABERS energy rating. 
The building is the first of three office towers to be constructed in the Melbourne Quarter precinct. 
Once complete, it is expected to accommodate about 130,000 sqm of flexible office space for more than 12,000 workers.
The Lendlease-managed Australian Prime Property Fund Commercial (APPF Commercial) purchased One Melbourne Quarter in November 2016. 
APPF Commercial’s strategy is to focus on next-generation assets that form part of transport-rich precincts with access to green space. Other investments include International Towers at Barangaroo, Darling Square and Darling Quarter in Sydney. 
The fund was recently ranked the world's most sustainable real estate fund in this year’s GRESB index, the third time it has achieved this result. 
GRESB assesses the sustainability performance of real estate sector portfolios and assets in public, private and direct sectors worldwide. 
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Lendlease secures AMP as major tenant at Melbourne Quarter 

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<div class="cq-article-content-paras section">
The Brady Group is in dispute with its minority partner property investor, Xue Bin Wu over the future of an unbuilt $300 million Melbourne apartment skyscraper.
The case is before the Victorian Supreme Court.
</div>
<div class="cq-article-content-paras section">
The Australian Financial Review described the dispute as "bitter."
The dispute is between Xue Bin Wu, also known as David Wu, and the Brady Group, led by Tony Brady over their proposed 68-level apartment tower at <a href="https://urban.melbourne/projects/cbd-west-end/272-282-queen-street-melbourne" target="_blank">280 Queen Street</a>.
The 207-metre building comprises 533 apartments designed by Peddle Thorp Architects, with mostly one and two bedroom apartments, 23 penthouses and one custom designed penthouse.
The proposal attracted attention on its 2015 application when The Age described some of the apartments has not having enough space for basic activities.
The Age advised the plans had "angered" Melbourne City Council officials who found many of its then 589 planned units were undersized.
In a report to council, the planners noted "that many of the apartments are too small to allow for basic daily activities and functions such as eating at a dining table, or having a dressing table in the bedroom whilst maintaining access to the wardrobe."
<div id="plista_widget_outstream_59dd3cc3d535a20" class="plista_widget_outstream" data-widget="">Although there was praise for the inclusion of 46 three-bedroom apartments, the planners said most of these dwellings were less than 70 square metres</div>
</div>
<div class="cq-article-content-paras section">
The Brady Group and David Wu formed a joint venture in 2014 to develop the property, with Brady taking a 67 percent stake.
Brady reportedly put up $23.785 million purchasing funds for the venture, according to an affidavit by Brady Group general manager Simon Pethica.
Under their agreement, it is alleged, both the partners were then to jointly approve and authorise development expenses and then work on a more detailed joint venture agreement.
</div>
<div class="cq-article-content-media section">"David has obstructed every reasonable attempt to finalise a more detailed joint venture agreement," the statement alleged.</div>
<div class="cq-article-content-paras section">
"Without a detailed joint venture agreement, it is impossible to progress the development in a timely and commercially effective manner."
The statement alleges that Mr Wu has "unreasonably refused" to authorise a series of expenses incurred through the development process, including the reimbursement of a $25,300 fee paid by Brady Constructions to the Foreign Investment Review Board.
The failure to make those payments has stalled the development of the project, it is alleged.
</div>
<div class="cq-article-content-paras section">
The Brady Group has asked for a court order forcing Mr Wu to sell. Failing that, Brady seeks an order to wind up the joint venture.
Mr Wu, who also runs a real estate agency, has yet to file a defence.
In 2014 The Age initially reported the property had been purchased by Chinese national Xue Bin Wu.
<div id="plista_widget_outstream_59dd3dbfedb2c40" class="plista_widget_outstream" data-widget="">It suggested Wu held a third portion of the holding company which lodged the plans for the site, suggesting an initial joint capital venture with Brady.</div>
However a Brady Group spokesman told The Age in late 2014 that Mr Wu was no longer involved in the project. "It will be a Brady Group development," he said. "Work will start in about 12 months."
The Financial Review writes that as of October 2017 the fate of a $300 million Melbourne skyscraper hangs in the balance as under the conditions of its state government planning approval, work must begin on the project by June next year.
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j.ballantyne1990-6AQqhLzZaK

Brady Group in partnership stoush with David Wu over 280 Queen Street

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Melbourne fund manager Peak Equities has purchased an A-grade office building in Melbourne's Camberwell Junction for $27.5 million.
It takes the value of its property portfolio to more than $177 million.
The five-level commercial building at 250 Camberwell Road boasts 5,420 square metres of lettable space.
it is leased to ASX top 200 company Australian Pharmaceutical Industries (API) until March 2023, with three five-year options. 
API is a wholesale supplier and owns 400 Priceline Pharmacy stores across Australia, along with the rights to Soul Pattinson Chemists and the Pharmacist Advice brand.
The building also features a ground floor cafe, Pour &amp; Sip, managed by Camberwell Food Group on a 10 year lease until February 2026.
It is anticipated the fully refurbished Camberwell Road office building will deliver a first year return of 8.54% for Peak Equities investors, increasing to 11.14% as the investment matures.
The property was sold by Bricktop, a Sydney based investment firm and negotiation by Peter Bremner of Colliers International.
Peak Equities, established in 2014, has properties in Melbourne, South Australia and Queensland worth a combined $74.5 million, with eight syndicates now under management.
The company is headed by chartered accountant Tom Borsky, who was also the founding treasurer and a Life Member of Property Funds Association of Australia - the representative body of the multi-billion dollar Unlisted Property Trust industry.
<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/2017/09/20/Camberwell%20Road.jpg" alt="">
Assets acquired by Peak Equities in the past 12 months include a $17.55 million commercial complex at Noarlunga in South Australia.
They paid $22 million for The Precinct retail centre in Townsville and the $7.65 million for 69 Laver Drive office building in Robina on the Gold Coast. 
The company also acquired a one-third stake in a residential development at 102 Balaclava Road in Caulfield, Melbourne.
Over the past year, Peak Equities sold a 30,000 square metre industrial asset at 57 Northgate Drive at Thomastown in Melbourne and an office building at 183 Varsity Parade in Varsity Lakes on the Gold Coast, and saw the completion of a residential apartment project, in which it owned a 20% stake, in Heidelberg in Melbourne.
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Peak Equities make $27.5 million acquisition in Camberwell

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An undisclosed wealthy Sydney family has bought a low-rise office building on Melbourne's St Kilda Road for $14 million.
The seven storey glass and concrete office building is at 1 Bowen Crescent near the Domain Road interchange.
It was sold on a yield of 4% by the philanthropist and tech entrepreneur Malcolm Freake, who bought it in 2002.
It was built by trucking magnate Lindsay Fox as Linfox company offices.
It sold fully leased to insurance services company Innovation Group with the current lease term ending in May next year.
The underbidder was an Asian buyer.
The sale illustrated the "gravitational pull of Melbourne for interstate buyers" who see better value in markets like St Kilda Road than in markets like Sydney, the CBRE selling agent said.
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Sydney buyers beats Asian interest to secure St Kilda Road office

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Melbourne was the only capital city to record a weekend auction success rate in the 70s, continuing its sparkling performance.
Melbourne vendors sold 72 percent of their listings, while clearance rates across Sydney remained below 70 per cent for the eleventh consecutive week.
Sydney did retain its ranking as the second strongest auction capital, according to CoreLogic.
Melbourne hosted 1,111 auctions, similar to the same time last year when there was a stronger 78.4 per cent cleared.
An art-deco Hawthorn house sold pre-auction for $3.22 million making it Melbourne’s most expensive weekend auction offering.
Located at <a href="https://www.realestate.com.au/sold/property-house-vic-hawthorn-126362366" target="_blank">9 Auburn Road</a> (pictured above), the 1938 home was marketed as one of “the most exquisite restorations to have hit the market.”
The property, last sold for $501,000 in 2001, features original features including black manganese bricks, terrazzo floors and curved textured walls.
The property was offered through the Whitefox agency. 
Melbourne auction numbers will rise steadily over coming weekends until the Melbourne Cup long weekend. 
A prize listing includes <a href="https://www.realestate.com.au/property-house-vic-hawthorn-126555554" target="_blank">an inner city vineyard on the Yarra River at Hawthorn</a> with $12 million to $13 million hopes through Scott Patterson at Kay &amp; Burton for November 1 auction.
The vineyard, just four kilometres from the Melbourne CBD, is the home of Coppin Grove Wines, a boutique family vineyard established in 1998, comprising 1000 Pinot Noir, Chardonnay and Nebbiolo vines.
The vineyard, the work of Michael Cohn and his wife Ann, supplies its signature Coppin Grove Sparkling to George Calombaris’s Hellenic Republic restaurants. 
The Cohns completed a viticultural course at the University of Melbourne’s nearby Burnley Horticultural College.
Sydney had the nation's top weekend sale when a four bedroom Strathfield house sold for $5.1 million.
Located at <a href="https://www.realestate.com.au/property-house-nsw-strathfield-126313986">7 Torrington Road</a>, the two level brick house on 858 sqm is situated on Strathfield’s so-called Golden Mile.
Last sold in 1998 for $831,000, the property was offered through Strathfield Partners agents Vanessa Kim and Sunny Nguyen.
It was a tie for the nation's cheapest - between Brisbane and Melbourne. 
A one bedroom Mentone apartment sold for $275,000 making it Melbourne’s cheapest weekend auction sale.
Located at <a href="https://www.realestate.com.au/sold/property-apartment-vic-mentone-126349266" target="_blank">10/56 Milan Street</a>, the property was marketed as a “shrewd investment opportunity, fantastic flip or perfect first-step on the property ladder.”
Built in 1970, the Regency Gardens offering last sold in 1987 for $52,200.
A two bedroom house at Kallangur sold for $275,000 making it Brisbane’s cheapest weekend auction sale.
Located at <a href="https://www.realestate.com.au/sold/property-house-qld-kallangur-126346738" target="_blank">45 Boardman Street</a>, the 607 sqm property with unrenovated older-style lowset brick home last sold in 2006 for $231,000.
The nation's preliminary auction volumes bounced higher after last week’s long weekend, according to CoreLogic’s latest report.
Auction activity across the combined capital cities increased after last week’s grand finals, school holidays and public holiday slowdown.
Around 2,286 homes were taken to auction, returning a preliminary national auction clearance rate of 68.1 per cent.
The national preliminary clearance was up from the 66.3 per cent of the long weekend. But it was lower than one year ago, when there was a 76.4 per cent clearance rate on similar volume.
Sydney’s preliminary clearance rate was 67.2 per cent across 591 auction results, according to Coreogic.
There were a total of 800 auctions held across Sydney.
Domain reported two Sydney regions that have typically led the charge at auctions – the northern beaches and the inner west – took an uncharacteristic downturns.
The inner west sat at 69.6 per cent while the northern beaches was well down on recent results with 67.4 per cent.
There were 149 Brisbane homes taken to auction on the weekend recording a preliminary auction clearance rate of 49.5 per cent, unchanged from final results last week.
The Brisbane result sat slightly lower than one year ago, when 53.5 per cent of the 157 properties taken to auction were successful.
A five bedroom house at Chapel Hill sold for $1.95 million making it Brisbane’s most expensive weekend auction sale.
Located at <a href="https://www.realestate.com.au/sold/property-house-qld-chapel+hill-126156922" target="_blank">68 Tristania Road</a>, the 2003 sqm property was marketed as “reminiscent of a charming country lane.”
It was built in 2013 after the block cost $1.55 million in 2011.
A total of 108 Adelaide homes were taken to auction, with a preliminary clearance rate of 65.3 per cent, down from 71.1 per cent last week when 40 auctions were held across the city.
It was lower than one year ago when 98 auctions were held and 75.3 per cent cleared.
A Norwood property sold for $2.44 million making it Adelaide’s most expensive weekend auction sale.
Located at <a href="https://www.realestate.com.au/sold/property-house-sa-norwood-126386946" target="_blank">25 William Street</a>, the 1560 sqm property has five one bedroom units.
It was marketed as an opportunity to develop a home or redevelop through Harris Real Estate agents Nick Baranikow and Kathryn Roberts.
There were 33 Perth auctions this week, with a preliminary clearance rate of 60 per cent.
Last week, 70 per cent of the 13 auctions held were successful.
Canberra’s preliminary auction clearance rate of 62.7 per cent this week is lower than last week, when the final auction clearance rate was 75.7 per cent and also lower than the 85 per cent recorded last year.
Canberra's sales ranged between a three bedroom Kaleen apartment for $385,000 at <a href="https://www.realestate.com.au/sold/property-house-act-kaleen-126408446" target="_blank">3/112 Baldwin Drive</a>, and a Crace house sold for $1.157 million.
Located at <a href="https://www.realestate.com.au/property-house-act-crace-126349522" target="_blank">30 Ivory Street</a>, the house on the 555 sqm property features four bedrooms and three designer bathrooms.
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Hawthorn art deco tops weekend auction results

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<div class="cq-article-content-paras section">
Apartment settlements to Chinese off-the-plan buyers are holding up in the Melbourne CBD, according to the construction financier MaxCap.
The off-the-plan sales in the north-western Elizabeth Street precinct showed little sign of settlement difficulties, said MaxCap chief investment officer Brae Sokolski.
He cited figures for four projects which were almost fully pre-sold.
He noted 65 per cent of apartments settled within the first two weeks of settlements, with the remainder of stock settling over four to six weeks with minimal evidence of default.
At least half of the buyers were foreigners who required Foreign Investment Review Board approval to buy.
</div>
<div class="cq-article-content-paras section">
"In the most trying environment for settlements, they are still proving incredibly resilient," Sokolski told Fairfax Media.
"The buyers from offshore are finding a way to ensure that they settle and they have investment in Australian real estate."
</div>
<div class="related-quotes section">He suggested these buyers were the ones with notionally the highest possible risk.</div>
<div class="related-quotes section"> </div>
<div class="related-quotes section">"They bought when the market was very different in terms of their ability to access equity from China or debt from Australia.</div>
<div class="related-quotes section"> </div>
<div class="related-quotes section">"The fact that they are settling when they were caught unawares augers very well for the future of the industry and the settlements moving forward."</div>
<div class="cq-article-content-paras section">
The four projects were Golden Age's Victoria One (160 stage-one units out of a planned total 643 apartments), <a href="https://www.hengyi.com.au/category/news/light-house/" target="_blank">Hengyi's Light House</a> (627 apartments), ICD Property's EQ Tower (633 apartments) and Mammoth Empire's Empire Melbourne (487 apartments).
At Light House, 98 per cent of all apartments had settled successfully within 60 days of calling for settlements, Sokolski said. They took place in July this year.
</div>
<div class="cq-article-content-media section">Sokolski said a random sample review of title searches showed that about 58 per cent of the apartments purchased across the four projects were funded by cash, while 33 per cent was through major Australian banks or lenders, and a further 9 per cent through alternate or overseas lenders.</div>
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Light House signals Chinese buyers showing few signs of Melbourne apartment defaults

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YarraBend, a new Melbourne suburb being developed by Glenvill, will soon witness a luxury apartment project come up which has been designed by architects DKO.
Parkview Apartments in Melbourne’s Alphington will comprise 120 units in configurations of one, two and three bedrooms, starting from $455,000. 
According to the description, Parkview will be the first apartment project within YarraBend and one of the first to be designed in line with Victoria’s Better Apartments Design Standards, ensuring liveable and sustainable designs are prioritised throughout the space.
Conceived by DKO, the apartments are designed to complement their natural environment, nearby parklands and the Yarra River.
The design brief by YarraBend for the entire site is to help create an urban renewal development of international standard, equal to New York’s Meat Packing District and London’s Canary Wharf with a considered and future-proof design that appealed to a discerning taste.
DKO’s design considers the historic buildings on the site, whilst creating a contemporary space with minimalist interiors.
“The design of the apartments provide space for landscaped gardens on the ground floor and generous balconies for units above, which take advantage of spectacular views to the river, surrounding parks and the city,” said Koos de Keijzer, principal at DKO Architecture.
<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/2017/09/20/Parkview%20Apartments%20balcony_YarraBend.jpg" alt="">
The 120 apartments are available in one, two and three bedrooms, starting from $455,000.
YarraBend says it has doubled its three-bedroom offering in response to market demand.
Each unit features high ceilings, large, double glazed windows and balcony with views.
There is also smart-wired lighting for select apartments and Miele appliances.
Communal amenities include a rooftop terrace with pool and heated spa, residents’ lounge with fireplace, a wine cellar and a resident gym.
A shopping centre is planned next to the development. 
<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/2017/09/20/Parkview%20Apartments%20residents%20lounge_YarraBend.jpg" alt="">
YarraBend’s creative director Len Warson said the project would set new benchmarks in design and urban liveability.
“YarraBend will be a new Northern gateway opening up a huge parcel of riverfront land that was previously industrial and inaccessible,” Warson said.
“We are creating incredible world-class amenities such as a health and wellness centre and cutting-edge gym equipment with cloud based fitness training.”
“A YarraBend app connecting the residents to a variety of conveniences such as a tech concierge (a Glenvill innovation).” says Warson.
For more information, <a href="https://www.yarrabend.com.au" target="_blank">click here</a>.
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YarraBend gears up for luxury apartment project designed by DKO 

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A near new office building leased to RMIT and the Royal District Nursing Service (RDNS) in the University Hill development in Melbourne’s northern perimeter has been listed with expectations of $25 million.
The property comes to the market at a time when office market investment activity in suburban Melbourne has reached an all-time high.
The <a href="https://www.realcommercial.com.au/property-retail-vic-bundoora-501148623" target="_blank">30 Janefield Drive</a> property will be sold by expressions of interest closing November 2.
Located at the corner of Princeton Terrace, the property comprises a modern, virtually new office building with net lettable area of 3,960 sqm over four levels, including ground floor retail, on a 5,748 sqm site.
Melbourne has recorded its highest annual net absorption level since 2010 with total suburban office vacancy at an historically tight 7 per cent, said Andrew Dawkins of Dawkins Occhiuto, who along with colleagues Chris Jones and Walter Occhiuto is marketing the property along with Tim Grant and Tom Ryan of Knight Frank.
“Demand from domestic unlisted funds and syndicates, along with an increasing level of interest from off-shore buyers, has, for a third consecutive year, put suburban office market investment in Melbourne into record territory,” said Dawkins.
The property comes with a blue-chip tenancy profile including RMIT University and the Royal District Nursing Service (RDNS) accounting for 81 per cent of the income, and five separate retail tenancies, at a current net passing income of $1.59 million per annum with a weighted average lease expiry of nine years.
Knight Frank’s Grant said the tenancy profile included the ‘make good’ requirement that both RMIT and RDNS reinstate any alteration and remove fitout, replace carpets and floor linings and repaint all internal surfaces to the lessor’s satisfaction.
“This is an exceptional tenancy profile backed by a make good clause that presents purchasers with the most passive of investments,’’ Grant said.
He said an additional and not insignificant feature of the property was the sizeable allotment with two street frontages, which offered the potential for further development subject to council approval.
The building was completed in January 2015 and presents buyers with strong depreciation allowances and low anticipated future capital expenditure.
The property is close to the Metropolitan Ring Road via Plenty Road providing easy access to both Melbourne CBD and Tullamarine Airport, the 4 star energy, water and waste rating design, and the strong projected growth of University Hill.
University Hill benefits from its location at the foot of one of Melbourne’s most rapidly growing municipalities – the City of Whittlesea  - which has a current estimated population of 209,118 that is forecast to grow to 379,342 by 2041.
The $1 billion 104 hectare, park is expected to accommodate 3,000 residents and 4,000 jobs together with the 155 businesses within the 30,000 sqm commercial precinct.
 
 
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RMIT office at MAB’s University Hill to fetch $25 million

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A local investor has beat 20 other bidders to the $2.35 million purchase of the former Bank of New South Wales premises at 375 Queen Street, Melbourne.
Colliers International, in conjunction with Knight Frank brokered the packed boardroom auction sale last month.
More than 200 enquiries were generated for the A-grade heritage-listed freehold, with the majority of interest came from locally based investors.
“The extensive interest was due to the highly affordable price point,” one agent said.
It transacted at $11,500 per square metre of land.
The 350 square metre property, which is located on the corner of Queen and Franklin streets, metres from Queen Victoria Market, was subject to a council order for emergency repairs in late 2016.
It features high ceilings, ornate finishes and classic period architecture but has fallen into disrepair since its construction in the 1860s.
The investor said they have plans to restore the building to its former glory.
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