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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</section>

[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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Satterley Property Group has announced that the first land release for its upcoming residential development in Melbourne’s northern suburb of Mickleham would be on September 12.
Located at <a href="https://www.realestate.com.au/property--vic-mickleham-600017438" target="_blank">2090 Mickleham Road</a>, Botanical is expected to offer a mix of houses and medium-density residential and a town centre. The land is expected to allow for 2,300 lots.
Stage 1 land prices are expected to start from $170,000.
In mid-2016, Satterley Property Group had bought 214 hectares of land in Mickleham in a deal believed to be worth $100 million.
The development has more than 30 hectares of planned open spaces, with a 22-hectare Botanical Park featuring wetlands, playground and gardens, including cycling trails.
The developer says the project will be close to schools, shopping and communal facilities, and is connected to the Hume Freeway via Mickleham Road. 
Founder Nigel Satterley had said earlier that the Mickleham project is Satterley’s fourth residential estate in Melbourne’s northern suburbs.
"It joins Riverstone in Doreen and Coburg Hill in Coburg North, both of which are close to trading out. True North (formally Arena) in Greenvale has been selling strongly since it was acquired from Peet Limited in 2015," he said.
 
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jonathanchancellor-7SQnKwU6yx

Developer Satterley close to release of first land lots at Mickleham 

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Macleod, 14 km north-east from Melbourne's Central Business District, has emerged as the strongest winter auction markets in the country.
There were 9868 auctions over winter in Melbourne, with an overall auction clearance rate of 71 per cent, according to Domain.
Domain economist Dr Andrew Wilson said hxpected clearance rates in Melbourne to remain above 70 per cent but said, overall, the market may not perform as well as last spring, when buyers were motivated by recent interest rate cuts.
The top five performing Melbourne suburbs over winter for houses
<table border="1" cellspacing="0" cellpadding="0"><tbody>
<tr>
<td valign="top" width="104">
Suburb
</td>
<td valign="top" width="97">
No. of auctions
</td>
<td valign="top" width="96">
Clearance rate
</td>
</tr>
<tr>
<td valign="top" width="104">
Macleod
</td>
<td valign="top" width="97">
16
</td>
<td valign="top" width="96">
100%
</td>
</tr>
<tr>
<td valign="top" width="104">
Scoresby
</td>
<td valign="top" width="97">
12
</td>
<td valign="top" width="96">
100%
</td>
</tr>
<tr>
<td valign="top" width="104">
Burnside Heights
</td>
<td valign="top" width="97">
8
</td>
<td valign="top" width="96">
100%
</td>
</tr>
<tr>
<td valign="top" width="104">
Bonbeach
</td>
<td valign="top" width="97">
7
</td>
<td valign="top" width="96">
100%
</td>
</tr>
<tr>
<td valign="top" width="104">
Cranbourne
</td>
<td valign="top" width="97">
7
</td>
<td valign="top" width="96">
100%
</td>
</tr>
</tbody></table>
He said the top end of the Melbourne market had been an underperformer over winter.
“It’s certainly not as strong as the budget market, particularly the inner east,” he said.
“There’s a real sense the [inner-east] market has topped out.”
A three bedroom house at <a href="https://www.realestate.com.au/sold/property-house-vic-macleod-126105246" target="_blank">32 Chapman Street</a>, Macleod (above) was sold during winter for $998,000.
Built in 1970 it last sold for $312,000 in 2002.
A four bedroom house at <a href="https://www.realestate.com.au/sold/property-house-vic-macleod-126031542" target="_blank">4 Tucker Way</a>, Macleod (below) was sold during winter for $831,000.
It last sold in 1999 for $247,000.
<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/2017/09/06/4%20Tucker%20Way.jpg" alt="">
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j.ballantyne1990-6AQqhLzZaK

Macleod among Melbourne's best performing winter auction suburbs

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A historic building on Melbourne's Queen Street has been listed for auction.  
Located at <a href="https://www.realcommercial.com.au/property-offices-vic-melbourne-502505566">375 Queen Street</a>, the property was built in 1860 and was occupied earlier by the Bank of NSW.
It last changed hands for $1,840,000 in 2013, according to Corelogic RP Data. It is expected to fetch under $3 million.
The building was in the news in 2009 when the council shut down the Rajah Sahib Tavern restaurant which was occupying the site, Fairfax Media reported.
Rajah Sahib Tavern was controlled by immigration agent Larry Mendonca. In 2013, his former girlfriend and landlord of 375 Queen Street – the property for sale – was trying to evict Mendonca from using office space in the building.
Prior to that, rock singers Mick Jagger and Elton John visited the building when another restaurant was being run on the premises.
The building features a façade with a dual street frontage of 20 metres.
The property has direct access to the Melbourne CBD and is close to Flagstaff Gardens and public transport.
The double storey, corner building is currently vacant and is ideal as an office headquarters, hospitality or luxury residence, according to its description.
It is set to benefit from the $250 million renewal of the QVM opposite the property.
The property will be auctioned on September 13 and is being offered through Colliers International agents Oliver Hay, Daniel Wolman and David Sia and Knight Frank agents George Burbury and Andrew Hansen.
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Historic commercial Melbourne building listed for auction

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A development site in Melbourne’s Box Hill has been sold to a local development group with Chinese connections for $13.5 million through Savills in an off-market deal.
The transaction follows a recent spate of sales along Prospect Street as the precinct continues its transition from commercial to high-rise residential development, according to Savills.
The property at <a href="https://www.domain.com.au/property-profile/31-35-prospect-street-box-hill-vic-3128" target="_blank">31-35 Prospect Street</a> is a rectangular site with an area of 1,653 sqm.
It is used as an open air car park generating income of nearly $45,000 per annum.
The property is situated within the rapidly changing “Major Development Precinct” of Box Hill with development height potential of at least 20 levels.
The deal was brokered by Savills’ Clinton Baxter and Nick Peden.
The selling price reflects a strong rate of $8,166 per sqm.
Baxter said that the site was snapped up by an under bidder following the agency’s recent $12.19 million sale of nearby 15-17 Prospect Street, and $22.25m sale of 843 Whitehorse Road.
<a href="https://www.propertyobserver.com.au/images/2017/09/05/BoxHill1.png" target="_blank">Click to enlarge</a>
 <img src="https://www.urban.com.au/images/2017/09/05/BoxHill1.png" alt="">
<a href="https://www.propertyobserver.com.au/images/2017/09/05/BoxHillNew.png" target="_blank">Click to enlarge</a>
<img src="https://www.urban.com.au/images/2017/09/05/BoxHillNew.png" alt="">
“We are experiencing unprecedented developer interest in Box Hill as the market seeks to take advantage of the greater height allowances within the Activity Centre and the huge demand for apartment living within walking distance of Box Hill Central Shopping Centre ” Baxter said.
Peden added that the property was held by a local private family for many decades.
 
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Box Hill site snapped up by developer for $13.5 million: Savills 

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Melbourne’s Outer East had the highest weekend auction clearance rate, according to CoreLogic’s latest report.
The property data firm says that out of the 52 auctions in the area 80.8% resulted in a successful outcome.
This is followed by the West with 79.6% and the North East with 78.5%.
<a href="https://www.propertyobserver.com.au/images/2017/09/04/Screen%20Shot%202017-09-04%20at%2011.16.47%20am.jpg" target="_blank">Click to enlarge</a>
<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/2017/09/04/Screen%20Shot%202017-09-04%20at%2011.16.47%20am.jpg" alt="">
The Inner East region had the lowest clearance rate with only 67.8% of its auctions cleared.
A five bedroom Wheelers Hill house at <a href="https://www.realestate.com.au/sold/property-house-vic-wheelers+hill-126126226" target="_blank">17 Highwood Drive</a> (below) was sold over the weekend for $1.206 million.
It last sold in 1975 for $69,500.
A three bedroom house at <a href="https://www.realestate.com.au/sold/property-house-vic-glen+waverley-126077354" target="_blank">19 Diamond Avenue</a>, Glen Waverley (below) was sold for $1.37 million.
<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/2017/09/04/19%20Diamond%20Avenue.jpg" alt="">
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Outer East Melbourne region scores highest weekend auction clearance rate: CoreLogic

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Royce Hotel, that originated out of Melbourne's first Rolls-Royce prestige car dealership, has been listed with expectations of more than $60 million.
The 100-room Royce Hotel on St Kilda Road on the city fringe along with a four-level office building are being offered for sale by its Melbourne private owners and operators, the Bursztyn family.
The hotel’s 1920s art deco facade is a reminder of its origins as Melbourne's first Rolls-Royce prestige car dealership. 
They have been owned by the Bursztyn family since 2000. The family developed the hotel out of the old car showroom, retaining many of its heritage elements including its chandeliers, leadlight windows and ornate ceilings, according to The Australian Financial Review.
The office building includes a permit for another 67 hotel rooms.
 <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/2017/08/31/Royce2.jpg" alt="">
The five-star hotel has 100 guest rooms and suites,besides the award-winning dish Restaurant, the amberoom bar, conferencing and event facilities, a gymnasium and 25 undercover car spaces.
The listing agents are Dan McVay and Sam McVay of McVay Real Estate Australia, a boutique commercial real estate agency that focuses purely on the sale of major assets. 
The hotel is being marketed via an international expressions of interest campaign.
"The Royce Hotel has been privately managed as a standalone hotel since its opening in 2000 and now provides the opportunity to introduce branded hotel management to further improve both the sales distribution networks as well as creating cost efficiencies," Dan McVay was cited as saying by the AFR.
"A number of the hotel rooms used to be car service bays.” 
He added that the potential to add another 67 rooms was an added enticement with a 100-room hotel "right on the edge" of the scale buyers sought. "Every extra room added will go straight to the bottom line," he said.
The site area is 2,164 sqm. 
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Melbourne’s Royce Hotel listed with $60 million hopes

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Melbourne’s Mornington Peninsula had the highest weekend auction clearance rate, according to CoreLogic’s latest report.
The property data firm says that 85.7% of its 35 auctions were cleared.
This is followed by the Outer East with 83.3% and North West with 83.1%.
<a href="https://www.propertyobserver.com.au/images/2017/08/28/Screen%20Shot%202017-08-28%20at%2011.28.52%20am.jpg" target="_blank">Click to enlarge</a>
<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/2017/08/28/Screen%20Shot%202017-08-28%20at%2011.28.52%20am.jpg" alt="">
The Inner East only had 69.2% of its auctions cleared taking last place.
A three bedroom house at <a href="https://www.realestate.com.au/sold/property-house-vic-frankston+south-126067790" target="_blank">53 Fleetwood Crescent</a>, Frankston South (above) was sold for $902,000.
A three bedroom townhouse at <a href="https://www.realestate.com.au/sold/property-townhouse-vic-bonbeach-126113446" target="_blank">1/15-17 Genoa Avenue</a>, Bonbeach (below) was sold for $775,000.
Built in 2007 it last sold for $545,000 in 2010.
<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/2017/08/28/1_15-17%20Genoa%20Avenue.jpg" alt="">
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Mornington Peninsula takes top spot in Melbourne's weekend auction clearance rate: CoreLogic

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A retail property in Melbourne’s south-east bayside suburb of Sandringham is set to go under the hammer on September 20 with price expectations of more than $750,000.
The shop at <a href="https://www.realcommercial.com.au/property-retail-vic-sandringham-502509914" target="_blank">1/36 Station Street</a> forms part of a three-level building comprising two levels of apartments.
The ground floor shop is utilised as a professional office suite and includes a reception area, two partitioned offices, boardroom, kitchen/amenities area, and a bathroom.
The shop is close to public transport and other amenities.
The 106 square metre retail space is being marketed by Teska Carson’s Luke Bisset and George Takis.
The property will be sold subject to a lease to Low Development Group, and currently returns $38,935 per annum. A market review in November is expected to increase the rent to $39,500 per annum.
Bisset said the tightly held, vibrant, bayside location provided the property with strong potential which would continue to see strong capital growth. 
Takis said Melbourne’s nation leading population growth, particularly in the coveted bayside suburbs, was an additional driving force that would continue to provide prospective purchasers with opportunities.  
 
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Leased retail space in Melbourne's Sandringham up for auction 

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A modern office building in Melbourne’s inner eastern suburb of Cremorne (Richmond) has sold at auction for $1.81 million through Teska Carson.
Located at <a href="https://www.realcommercial.com.au/property-retail-vic-richmond-502461878" target="_blank">33 Dover Street</a>, about two kilometres from Melbourne’s CBD, the property comprises a 352 sqm three-level office building with a courtyard and city views.
The building covers the entire 130 square metre site, and is close to shops and public transport.
Selling agents, Teska Carson’s Tom Maule and Matthew Feld, said the property sold well above the reserve price.
"This is an outstanding three storey office providing buyers with multiple options based on a flexible ground floor layout which could be partially or fully turned to warehouse or office uses," Maule said.
 The property was sold with vacant possession by a Melbourne based investor and the buyer was an owner occupier.
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Occupier pays $1.81m for Cremorne office

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An art deco jewel, Cyclone House, in a Melbourne CBD laneway is set to go under the hammer with price expectations of more than $5.5 million.
The property at <a href="https://www.allardshelton.com.au/leased/17-19-Hardware-Lane-MELBOURNE/500881808.aspx" target="_blank">17-19 Hardware Lane</a> is being offered to the market for the first time in 45 years. The auction is on September 20. 
The 402 sqm three-level, art deco property was built in 1930 and has been restored with modern additions including a lift and air-conditioning.
The property is being offered with vacant possession and includes retail frontage with two upper levels that could be used for office, residential or retail space, or for a tenant in the services industry, according to The Australian.
The listing agents are Patrick Barnes, Joseph Walton, Michael Ryan and James Gregson of Allard Shelton.
The zoning is flexible and there is potential for diversified income streams, according to Gregson. 
“There is simply not enough supply of A-grade commercial investments like this in Melbourne anymore to satisfy the influx of demand we are experiencing,” Gregson said.
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