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 development site in Melbourne’s inner suburb of Fitzroy has hit the market and is expected to attract strong interest from developers.
The listing of the 1,132 square metre site at 62 Rose Street follows the sale of a Webb Street property earlier this month for $6.6 million at Teska Carson auction.
The purchase of the latter property has plans for a high-end, million dollar plus, apartment project.  
According to Teska Carson’s Anthony Choi, who is marketing  Rose Street and Tom Maule who sold Webb Street with Matthew Feld, enquiry for sites in and around Fitzroy has been strong.
“Demand for these type of boutique apartment project sites has been extraordinary even given the strength of the apartment market in general over the last few years. I guess the difference here is the location in what has been one of Melbourne’s hippest suburbs over the last ten or 20 years,” Choi said.
The Rose Street property is zoned Mixed Use with frontages to Rose Street and Fitzroy Street. 
Three standalone warehouses, totalling 952 square metres, are currently leased on short to medium terms, returning $168,840 per annum.
The Rose Street property will be sold by expressions of interest closing September 20.
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jonathanchancellor-7SQnKwU6yx

Fitzroy site with prospects for apartments listed 

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One of Melbourne’s leading antique dealers, McPhees, has decided to put its Chapel Street, Prahran shop under the hammer after 116 years of trading.
The auction will be on September 28.
The business, which will continue trading in another location, was established by George McPhee who moved the business to the present location in 1924. The business started just on High Street in 1901. 
The 200-202 Chapel Street property comprises a two level, 497 square metre, building in near original condition.
According to listing agents, Teska Carson’s Matthew Feld and Tom Maule, the property will attract strong interest at time when Prahran is undergoing a development phase that has seen the local population rise in line with Melbourne’s growth.  
According to great grandson Duncan McPhee, who now runs the business with his brother Sean, the fourth generation of McPhees to be involved in one of Australia’s oldest family businesses is looking forward to a new era for the business. 
“Much has changed in Chapel Street over the last 100 years. It has become a destination for cafes, restaurants, bars, and other entertainment venues, and now the family is seeking a more appropriate address, an address which we hope will be home to the business for many more years to come.”
“We have customers that have been with us for 30 or 40 years or more and we would like to continue our service to them and at the same time nourish the business in a new location,’’ McPhee said.
McPhees has a reputation for supplying high quality early furniture especially in the English taste of the Eighteenth century, into the Regency period and continuing through the reign of George IV. 
“This part of Chapel Street has an enviable aura and reputation driven by its eclectic mix of tenancies from cafes to restaurants to bars and entertainment venues, boutique fashion houses to the Chapel Street Bazaar, The Jam Factory and Prahran Market,” Feld said.
“The list goes on. If you get an opportunity to buy in this part of Chapel Street you take it.’’
Current improvements allow for a conversation into two separate tenancies by re-instating the central wall, added Maule. 
He said the Commercial 1 zoning allows for mixed use commercial centres for retail, office, business, entertainment and community uses, as well as residential uses. 
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Prahran's iconic antique dealer to sell its shop of 93 years 

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GUEST OBSERVER
To downsize or to not downsize?
That is the question many older Australians are asking themselves as they weigh up the benefits and disadvantages of each option. 
While downsizing offers more convenience, one major compromise is potentially moving away from friends in your neighbourhood whom you’ve known for years.
As of July next year, older Australians who are thinking of downsizing their family home into a smaller property may have a financial incentive to do so. They will now be able to invest up to $300,000 of the money made from the sale into their superannuation without being taxed. *Please seek independent professional advice when contemplating using this method.
A few years ago, Secret Agent published a ‘How To Downsize’ guide. In this report we will revisit the topic, this time focusing on the inner city suburbs and considerations that need to be made if you are looking to downsize into any of these areas.
CHANGES YOU’LL NEED TO ADAPT TO
As the term implies, downsizing means that getting used to a smaller space is an inevitable part of the equation. By moving into the inner city, you will also have to get used to new neighbours, new traffic patterns, new noises, more lights and new distances from old friends. Two of the greatest challenges downsizers will face is negotiating life in a smaller home, and detaching themselves emotionally from the place they are leaving.
Size
It’s not easy to find a home with enough space so you don’t feel cramped, yet small enough to qualify the move as a ‘downsize’. Going from an expansive four bedroom home to a two bedroom apartment that is barely the size of your old living room is not a good idea, and neither is moving into a double-storey terrace with a backyard. 
This includes an increase in three bedroom apartments on offer as well as whole-level apartments occupying the entire floor, giving residents greater privacy, space and a better outlook. Nowadays more developers are shifting towards targeting downsizers instead of investors, allowing older Australians to continually benefit from this trend over the next few years.
Emotional attachments
Many will find that the hardest part about downsizing is leaving behind the emotional connections made to the family home. Full of memories of special milestones, it can be very difficult to let go of not just the house itself but the neighbourhood too.
On the bright side, you can downsize into another area you feel somewhat at home in, such as a place you have fond memories of as a child or young adult. You may have stayed in university housing in Parkville, or worked during your early days in Richmond. It helps to have some history in the area in terms of replacing one emotional connection with another, however it doesn’t mean that there won’t be huge changes to get used to. As the inner city has transformed dramatically over the past decade and continues to do so, these areas may not be as you remembered them.
INNER CITY SUBURB GUIDE
There are many benefits of moving into the inner city that will help offset some of the more difficult transitions you need to make when downsizing. Secret Agent has put together a guide of the inner city suburbs to assist you in choosing a place that will suit your lifestyle needs.
Fitzroy North
Good access to parks and gardens, Scotchmer St / St Georges Rd amenities, plenty of smaller terraces, family-oriented neighbourhood, quiet and leafy.
Fitzroy
Brunswick St, Johnston St and Gertrude St amenities, close to Carlton Gardens, public transport easily accessible, variety of terraces, low-rise apartments and warehouses to choose from.
Carlton
Close proximity to the CBD and good access to parks, plenty of amenities on Lygon St and Swanston St, walk to Queen Victoria Market, multitude of public transport options. Only 
downside is that it gets quite noisy and busy, particularly around Melbourne University.
Carlton North &amp; Princes Hill
Rathdowne Village amenities, quiet, leafy and wide streets, family-oriented neighbourhood, mostly period terraces. Demographic includes academics and medical professionals. One drawback is the lack of train access, only accessible via tram.
East Melbourne
Exclusive blue chip neighbourhood, quiet, leafy, walking distance to Fitzroy Gardens and CBD. Variety of older style apartments, Art Deco units, Victorian terraces.
North Melbourne
Queensberry St, Errol St and Victoria St amenities, including Queen Victoria Market, walking distance to the CBD. Mostly quiet except near main roads.
Parkville
Adjacent to Princes Park and Royal Park, with period terraces, brick apartments and Art Deco units on offer. Demographic includes academics and medical professionals. Mostly quiet and leafy.
Brunswick &amp; Brunswick East
Gentrifying suburbs with large cultural and amenity hub along Sydney Road and Lygon St. Mix of older and younger population. Most apartments of varying quality located closer to main roads ie. Sydney Road and Lygon Street. Good access via train and tram. Busier and noisier near main roads.
Collingwood &amp; Abbotsford
Smith St and Johnston St amenities, convenient access to Yarra River parks on the east. Accessible via both train and tram. Mix of warehouses, terraces and apartments. Mix of younger and older population.
Albert Park &amp; Middle Park
Established, blue chip suburbs with quiet, wide and leafy streets, family and downsizer population. Mostly well-kept period terraces with a few brick and Art Deco apartments, little to no development in these areas. Walk to the beach or Albert Park. No train access.
Port Melbourne &amp; South Melbourne
Bay St and Clarendon St amenities, walking distance to the beach or several parks. No train access. Mix of newer apartments and townhouses, and older terraces. Generally established, more hustle and bustle than Albert Park and Middle Park and a transient population. 
Richmond
Multiple public transport options across the suburb. Variety of amenities along Victoria St, Bridge Rd and Swan St. Mix of younger and older population, diverse demographic overall. Plenty of apartments, townhouses, terraces and warehouses to choose from.
South Yarra &amp; Prahran
Established, leafy suburbs with a mix of younger and older population. Plenty of amenities along Chapel St, Toorak Rd, Commercial Rd and High St however also quite busy and noisy particularly at night.
OTHER THINGS TO CONSIDER
Besides location, there are other major considerations you will need to make when deciding to downsize into the inner city:
<ul>
<li>Floor plan / layout of the home: With the right design, a small home can feel big; likewise, a big home can feel small if not designed well. Choose one that suits your daily habits at home. If you love to host dinners and have guests over often, you’d want a good kitchen with a spacious dining area. If you have a creative hobby, perhaps you’ll want to convert an extra bedroom into your own studio.</li>
<li>Less cars, less parking space: It may take some getting used to the tight street parking in suburbs such as Carlton and Fitzroy. You may also choose to give up one car (or altogether), as car sharing is popular in the inner city as is collaborative consumption of other items.</li>
<li>Noise: The inner city will always be noisier than a suburban neighbourhood. Consider proximity to trams, restaurants, main roads, and how loud they are when you are indoors with all windows shut. If you have chosen an apartment, how well the walls (and ceiling) have been insulated will also make a difference as to the extent you’ll hear your neighbours.</li>
<li>Light and darkness: A northern aspect provides desirable sunshine during the day! If your bedroom window faces a main road, the blinds or curtains may not be good enough to completely block out the light from a street lamp, which may disturb your sleep. Be careful of potential development sites which may block some of your natural light in the future.</li>
<li>Access: Think about the route from the closest grocer back to your apartment. Ideally, you don’t want to have to walk too far, and a lift may be necessary if you live higher than the first floor.</li>
<li>Storage: No matter how hard you try, a 100sqm apartment will never fit as much in as your double storey suburban mansion. Consider having less things but of a higher quality so they last longer.</li>
<li>Pets in apartments: Your pets may not be happy in an apartment if they are used to having lots of room to run around. Some apartments also have strict rules against having pets in the building.</li>
</ul>
 TRY BEFORE YOU BUY!
If you’ve set your mind on downsizing and you’re not sure how to prepare for the move, start by writing a list of ‘must-have’s that are non-negotiable when searching for a place. These will be the things that are most important to your future comfort. Don’t give in to these non-negotiables! Then write a list of things you will be willing to compromise on.
When you have found an inner city area you think you would like to move to, spend time in that suburb to get a proper feel for it before deciding to buy.
Stay in a hotel or Airbnb for 1-2 weeks to feel what it’s like to live through the weekdays, weekends, mornings and nights.
If you’re not in a rush, you may rent for a few months in that area to ensure that it meets your non-negotiables in the long term. It also gives you an opportunity to try out other property types, for example if you’ve never lived in an apartment, or warehouse conversion.
CONCLUSION
When entering a situation involving both gains and losses,
as humans we tend to focus on the latter. So when making a move into a new environment, like downsizing into the inner city, we need to minimise the impact of the negatives on our lifestyle. If noise is something that is very disruptive to you, then you’d be wise to avoid buying along a busy road, or near a shopping strip. If you don’t like being too close to your neighbours, then perhaps apartment living might not be for you.
With that said, inner city living has never been more popular. As the market continues to make it easier for older residents to settle comfortably near the city, it’s only a matter of time before downsizing becomes less of a difficult choice, and more of a natural transition. 
For more information, <a href="https://secretagent.com.au/">click here</a>.
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Melbourne inner city downsizing guide: Secret Agent

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Scotch College, one of Melbourne’s top private schools, has bought a neighbouring house for almost $1 million above reserve.
The three-bedroom brick home at <a href="https://www.realestate.com.au/sold/property-house-vic-hawthorn-125924502" target="_blank">20 Hambledon Road</a> sold under the hammer for close to $3.2 million.
With this purchase, the school now owns all but 11 of 27 houses in Hawthorn’s Hambledon Road. It has spent about $25 million on property in adjacent Hambledon and Fordholm roads alone, Fairfax Media reported.
The exclusive boys' school — where high school tuition fees start at $26,000 — sits on 27 hectares.
The selling agent was Jason Brinkworth of Marshall White, but he did not comment on the sale. Industry sources say the private school was determined to scoop up the property.
The house, owned by the same family for 66 years, had expectations of $2.2 million-$2.3 million.
Scotch College has been buying neighbouring houses for decades. The private school bought two properties in Hambledon Road in 1997 for $567,500 and $460,000, respectively, Domain Group records show. 
It bought another house in Hambledon Road for $850,000 in 2001, before buying the one next door for $1.4 million two years later.
In 2007, the college splashed more than $5 million on three other properties in the street.
Prior to last month’s auction, the school’s most recent purchase was a $2 million house in 2015.
It also owns all of the properties along Morrison Street, which has formed part of the school campus for many years.
Houses in Morrison Street are used for bagpipe lessons, media studies, administration and archiving. 
In a statement, the school said it began buying neighbouring property after losing chunks of the school grounds to the state government for Citylink.
“On three occasions since the 1960s, the government has compulsorily acquired land from the school to construct the [south-eastern] freeway and enable its subsequent widening into the Citylink tollway,” a spokesperson said.
“Bound otherwise by the tollway, Yarra River and Glenferrie Road, the school has a long term strategy to re-establish grounds lost to the tollway by acquiring land to the north.”
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Scotch College expands portfolio, buys house $1 million above reserve 

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A leased shopfront in Melbourne’s far east has been snapped up by a local investor for $750,000, highlighting the affordability of the city’s far eastern suburbs.
The <a href="https://www.realcommercial.com.au/property-retail-vic-croydon-502300130" target="_blank">71 Wicklow Avenue</a> property in Croydon is leased to Linear Hair Salon for one year, with another one-year option to renew.
The retail asset was sold in an off-market deal through Colliers International’s Jackie Hanna.
She said the $8,333 rate per sqm for the 90 sqm corner shop was a “great result” for a freehold under a short-term lease.
“We received significant local enquiry for this asset,” she said.
“Investors saw the upside potential given the property’s proximity to the local shops and train station.”
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Shopfront in Melbourne’s far eastern Croydon suburb sells for $750,000

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Singaporean developer Tong Eng Group has paid $116.3 million for a St Kilda Road tower.
The building on 5 Queens Road, was built in 1989and features new end-of-trip facilities with 104 lockers and 56 bike racks; floor plates of 1,680sqm and 325 bays across two levels of basement car parking.
Located opposite Albert Park, the 11-storey tower has a net lettable area of 17,500sqm and tenants such as Unico Computer Systems, Beca and Shape.
CBRE’s Michael Andrews, Luke Etherington and Kiran Pillai – in conjunction with Colliers’ Leigh Melbourne and Nick Rathgeber – managed the sale campaign on behalf of Charter Hall.
Trent James, CHOT fund manager, said recent divestments, including Queens Road, provides an opportunity to divest non-core assets above book value, with capital to be redeployed into core CBD acquisitions.
“This transaction reconfirm the CHOT’s focus on being an active seller in order to enhance returns for our capital partners,” he said.
Some $9 million has been spent on upgrades since 2011 with the building now having the only 5 Star NABERS rating in the area.
CBRE’s Mr Andrews said the strong sale result, which reflected an initial yield of circa 5.6 percent, highlighted the strength of demand for quality assets in the precinct.
“Charter Hall has completed a significant capital works program and leasing project on the building in recent years, which has positioned the asset as best in class,” Mr Andrews said.
“This strategy underpinned strong interest from both offshore and local groups and ultimately delivered one of the sharpest ever sale results within the precinct.
Terence Teo, Director of Feature Queens Pty Ltd (a unit of the Tong Eng Group), said the building is at a fantastic location at the confluence of Queens Road, Kingsway and St Kilda Road, and offers unrivalled protected views over Albert Park and Port Philip Bay.
 
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Singaporean developer Tong Eng Group buys St Kilda Road tower

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A securely tenanted medical facility in Melbourne’s outer suburb of Frankston has sold for $3.1 million to a local developer.
The property at <a href="https://www.realcommercial.com.au/property-offices-vic-frankston-502150406" target="_blank">5 Hastings Road</a> was marketed by Colliers International’s Ben Baines and Adrian Rowse, who said they fielded more than 100 enquiries following  an expressions of interest campaign.
“The campaign generated in excess of 100 strong enquiries,” Baines said.
“We received 14 genuine expressions of interest before an eventual sale to a local developer, who may look to refurbish or redevelop for the tenant.”
The property is leased to Australian Clinical Labs on a five-year triple net lease, thus promising a steady income stream for the near future.
The Uniradiology Frankston site has an area of 1,821 sqm and generates a passing net income of $192,850 p.a.
Rowse added that property’s location opposite Frankston Hospital appealed to prospective buyers.
 
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Medical facility in Melbourne's Frankston changes hands for $3.1 million

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<h3 class="post-title entry-title"><a href="https://petewargent.blogspot.com.au/2017/08/melbourne-land-sales-hit-fastest-pace"></a></h3>
<div id="post-body-3574513154739070757" class="post-body entry-content">The trend result for new motor vehicle sales rose to 101,083 in July, the highest on record.</div>
<div class="post-body entry-content"> </div>
<div class="post-body entry-content">
<a href="https://www.propertyobserver.com.au/images/2017/08/17/B1.jpg" target="_blank">Click to enlarge</a> <div class="separator"><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/2017/08/17/B1.jpg" alt=""></div>
 <div>The recent surge has largely been accounted for by Victoria, where new units sold are +4.4 per cent higher year-on-year in seasonally adjusted terms at 28,349.</div>
<div> </div>
<div>Victoria is the home of arguably the most vibrant economy in the country right now: Greater Melbourne.</div>
<div> </div>
<div>South Australia has also been improving steadily, with seasonally adjusted new vehicle sales +8.1 per cent higher over the year at 6,269.</div>
<div> </div>
<div>In annualised terms, New South Wales has racked up 397,652 unit sales, which is the highest figure ever recorded for any state. </div>
<div> </div>
<div><a href="https://www.propertyobserver.com.au/images/2017/08/17/B2.jpg" target="_blank">Click to enlarge</a></div>
 <div class="separator"><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/2017/08/17/B2.jpg" alt=""></div>
 <div>Sports utilities continue to dominate the sector, and are all set to overtake passenger vehicles as the most popular choice over the months ahead, which has been an extraordinary progression. </div>
<div> </div>
<div><a href="https://www.propertyobserver.com.au/images/2017/08/17/B4.jpg" target="_blank">Click to enlarge</a></div>
 <div class="separator"><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/2017/08/17/B4.jpg" alt=""></div>
<div> </div>
<div>Meanwhile production continues to plummet as the domestic auto industry winds up, and the overwhelming bulk of new vehicles going forward will be imported. </div>
<div> </div>
<div><a href="https://www.propertyobserver.com.au/images/2017/08/17/B3.jpg" target="_blank">Click to enlarge</a></div>
 <div class="separator"><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/2017/08/17/B3.jpg" alt=""></div>
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<div>The wrap</div>
<div> </div>
<div>Overall, these were more strong numbers indeed for new vehicle sales, with the Victorian economy once again shining. This is leading in turn to a starburst of population growth and demand in Melbourne.</div>
<div> </div>
<div>Oliver Hume reported that the average time on market for vacant land sales in Melbourne continued a precipitous drop from 200 days in Q4 2012 to a fresh all-time low of just 30 days in Q2 2017. </div>
<div> </div>
<div>Blocks have never been snapped up at anything like this speed before across the history of the data series. </div>
<div> </div>
<div>Demand has been strong locally, with anecdotally even some Sydneysiders now relocating to Melbourne for cheaper housing. </div>
<div> </div>
<div>The median price of land in Metropolitan Melbourne increased by +2.3 per cent in the quarter to $268,000 according to Oliver Hume, with the average lot size declining.</div>
<div> </div>
<div>Land prices per square metre increased by $14 to $654. </div>
<div> </div>
<div>
PETE WARGENT is the co-founder of <a href="https://allenwargent.com/" target="_blank">AllenWargent</a> property buyers (London, Sydney) and a best-selling author and <a href="https://petewargent.blogspot.com/" target="_blank">blogger</a>.
His latest book is <a href="https://www.bigskypublishing.com.au/Books/General-Interest/Four-Green-Houses--and-a-Red-Hotel/1015/productview.aspx" target="_blank">Four Green Houses and a Red Hotel</a>.
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<h3 class="post-title entry-title"><a href="https://petewargent.blogspot.com.au/2017/08/melbourne-land-sales-hit-fastest-pace"></a></h3>
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Melbourne land hits fastest sales pace on record: Pete Wargent

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An industrial site with development potential in Melbourne's inner-western suburb of Tottenham has sold for $6.5 million to an Asian investor.
The <a href="https://www.realcommercial.com.au/property-industrial+warehouse-vic-tottenham-502305290" target="_blank">213 Sunshine Road</a> site has an area of 16,457 sqm.
The deal was brokered by Mark Talbot of Fitzroys on behalf of Myer Herszberg, the former chairman of InfoMedia.
An Asian investor and landbanker purchased the site, which covers 12 separate titles and has a 9,346 sqm of industrial buildings, on a 4.1% net yield. 
The sale reflected a land rate of $394 per sqm. 
The property is close to Tottenham station. 
Talbot said the site returns a current rental of $304,457 per annum and has the potential for an increase, and presented a variety of development opportunities. 
“The Tottenham and West Footscray area has seen enormous changes with many older industrial buildings making way for smaller modern office/warehouse development. A number of industrial areas have also been rezoned, making way for high density residential developments including townhouses and apartments,” he said. 
Fairfax Media added that a housing estate is also being built opposite 213 Sunshine Road.
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Industrial site in Melbourne's Tottenham sells to Asian investor for $6.5 million

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A tenanted showroom and warehouse facility in Melbourne’s Box Hill has been sold to a developer for $3.5 million in an off-market transaction. 
The <a href="https://www.realestate.com.au/property/482a-station-st-box-hill-vic-3128" target="_blank">480-482A Station Street</a> site was held by a private vendor for more than 40 years.
With a land area of 1,020 sqm, the yield works out to be a little less than 3% yield. 
Cushman &amp; Wakefield’s Robert Colaneri and Andrew O’Connell brokered the deal on behalf of the vendor. 
The property comprises a single level showroom and warehouse facility.
It was sold with an existing long-term tenant in place, Abbeys Auctions. 
The site is close to Box Hill Train Station and Box Hill Shopping centre and within close proximity of Box Hill’s ‘Major Development Precinct’, a retail and commercial precinct that has experienced a substantial uplift in development activity, including the Whitehorse Towers and Sky One buildings currently under construction, according to Colliers.
The site is zoned industrial 3.
“Box Hill has emerged as one of Melbourne’s hottest development and investment markets and the price per square metre (approximately $3,500 per sqm), as well as yield secured for the Station Street property is amongst the highest of any Melbourne industrial transaction,”  said Colaneri.
“Investment into Box Hill has risen dramatically with a number of sites along Whitehorse Road and Prospect Street recently transacted.” 
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