Repeat buyers are one of the strongest measures of confidence in any apartment development.

At <a href="https://www.apartments.com.au/new-apartments/era-newcastle-west-124-126-bull-street-newcastle-west-nsw-2302">ERA</a> in Newcastle West, some purchasers are returning to <a href="https://www.apartments.com.au/developers/gwh">GWH</a> after living at the developer's One Apartments. Their decision to purchase again was driven by the quality of life they found after moving into their first GWH home.

Keith Wilton had spent years living in a house in East Maitland before deciding it was time for a change. Apartment living had always been on his radar, but he was selective about what he wanted.

<iframe allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" allowfullscreen="" frameborder="0" height="315" referrerpolicy="strict-origin-when-cross-origin" src="https://www.youtube.com/embed/FH_1EzB-1vs?si=XScVlP1ERsTDJoME" title="YouTube video player" width="560"></iframe>

"I had some boxes I wanted to tick," he says.

Keith points to the open-plan design, generous outdoor areas and considered inclusions as key reasons One Apartments worked for him.

“One of those things was a nice indoor open plan area, but also I wanted a nice outdoor open area that I could entertain on in summer or Christmases or birthdays,” he says.

He also found value in the smaller details, from integrated appliances to shared resident spaces including the pool, cinema and rooftop areas.

[smartcode_project:default project_id=135096 project_image_fid=356818]

After comparing several developments, he chose One Apartments because of GWH's longstanding local reputation and his own experience working with the developer on a commercial project more than a decade earlier.

"I knew that they were local, that the quality of the build was going to be up there. I'd looked at other apartment complexes around and close by, and I just knew that here was a better decision location wise."

Today, Keith says the move has completely changed how he experiences Newcastle.

"I enjoy living in this location because it's more of a lifestyle change. That Newcastle city living where you can walk to restaurants and bars and even beaches and parks and even shopping across the road."

[smartcode_project:default project_id=135096 project_image_fid=356828]

Beyond the location, he says it's the sense of community that has surprised him most.

"Everyone loves living here because they chose to live here, but everyone looks out for each other. It's a real great community feel here."

For Aimee and Lyle Goodman, the journey started almost by chance.

<iframe allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" allowfullscreen="" frameborder="0" height="315" referrerpolicy="strict-origin-when-cross-origin" src="https://www.youtube.com/embed/tsioMLcnjas?si=zq-ys3JuWpfa5hFv" title="YouTube video player" width="560"></iframe>

The couple happened to be having coffee in Newcastle when they noticed the site where One Apartments was about to begin construction.

"We were aware GWH was planning a development," Aimee says. "We made one phone call and things moved pretty quickly after that."

As busy business owners, they initially thought apartment living would simply reduce the maintenance that came with larger homes. Instead, it fundamentally changed how they spent time together.

"We actually catch up more as a family now," Aimee says.

"We've had homes with big yards and lots of space, but everyone ended up in different rooms. Here we'll have dinner together, the kids can play, and we spend far more quality time together."

[smartcode_project:default project_id=135096 project_image_fid=356829]

Lyle says their confidence came from GWH's reputation within Newcastle's building industry.

"I know people who've worked across different apartment projects, and whenever GWH came up the feedback was always the same. They're rock solid. They're quality."

That confidence only grew throughout the buying process.

"One of the things that really impressed us with GWH was the whole process, was the communication," Lyle says. "It was consistent, it was regular, there was no problem if we had some weird questions, there was no problems in getting answers."

[smartcode_project:default project_id=135096 project_image_fid=351104]

Aimee says one moment stood out.

"The project actually finished on time. We realised we needed to hurry up and sell our house because everything was happening exactly when they said it would."

The positive experience at One Apartments ultimately gave all three buyers the confidence to purchase again with GWH, this time at ERA.

Their confidence reflects what many buyers are seeking in today's apartment market. Location remains important, but so too does certainty around delivery, quality and long-term liveability.

[smartcode_project:default project_id=135096 project_image_fid=356822]

ERA builds on those foundations with 280 one, two and three-bedroom apartments across two landmark towers in <a href="https://www.apartments.com.au/developments/newcastle-west-nsw-2302">Newcastle West</a>.&nbsp;

Designed by <a href="https://www.apartments.com.au/architects/fk-australia">Fender Katsalidis</a>, the project will include more than 2,000 square metres of resident amenities, including a resort-style pool, gym, sauna, private cinema and rooftop entertaining spaces overlooking the harbour and coastline.&nbsp;

The development is also within walking distance of the Newcastle Interchange, Honeysuckle, Darby Street, the harbour foreshore, restaurants, retail and the city’s beaches, continuing the walkable lifestyle that existing GWH buyers say has transformed how they live.

[smartcode_project:default project_id=135096 project_image_fid=356826]

For Keith, the appeal remains straightforward.

"You feel at home even before you've moved into your home."

For Aimee, the change is measured in time.

“I just felt like I had more time,” she says.

[smartcode_project:default project_id=135096 project_image_fid=351102]

Construction at ERA is now underway, with more than half of the residences already sold and limited two and three-bedroom apartments remaining in the East Tower release. Priced from $980,000 for two-bedroom residences and $1.46 million for three-bedroom residences, buyers can secure an apartment with a 10 per cent deposit, with premium homes offering ocean views from Level 8 and harbour views from Level 10.

ERA is also backed by Resilience Insurance's 10-year Latent Defects Insurance policy, providing protection against structural or waterproofing defects for 10 years after completion. The project is anticipated to be completed in early 2028.

[smartcode_project_cta:default project_id=135096]

Joel Robinson

From ONE to ERA: Why buyers are choosing GWH again in Newcastle West

Virgate Property Group is preparing to commence construction of Verdé, its new apartment development in Melbourne's Arts Precinct at Southbank, following a strong run of sales that has seen more than half of the project's 173 apartments secured.

Verdé has attracted a broad mix of first home buyers, owner-occupiers upgrading from nearby inner-city suburbs and investors, with younger owner-occupier couples aged between 28 and 45 accounting for the strongest enquiry. Many are already living in Southbank, South Melbourne, Albert Park, Port Melbourne, South Yarra and the CBD.

"Verdé is located in one of the most desirable pockets of southern Melbourne," Blair Property Group Director Darren Blair, who is managing sales at Verdé, said.

"It's within walking distance of the Arts Centre, Royal Botanic Gardens, Albert Park Lake, and Southbank's restaurants and retail. It's a great lifestyle location with strong amenity and liveability, which made it a very attractive choice for the project."

[smartcode_project:default project_id=4661 project_image_fid=372549]

Virgate was already familiar with the precinct, having previously delivered the successful Domain House development in neighbouring South Melbourne. That experience gave the developer confidence to acquire the Coventry Street site and continue expanding its presence in Melbourne's inner south.

"We had been keeping an eye on the site and the broader precinct for a few months before deciding to move forward with the acquisition," Virgate said.

The project was ultimately secured in 2020 following feasibility studies, planning assessments and due diligence, with the brief centred on delivering "a high-quality, considered design that feels both refined and fit for purpose."

[smartcode_project:default project_id=4661 project_image_fid=314259]

Designed by <a href="https://www.apartments.com.au/architects/bruce-henderson-architects">Bruce Henderson Architects</a>, Verdé comprises 173 one, two and three-bedroom apartments priced from $599,000. The architecture is distinguished by a faceted glass façade that responds to both the site's outlook and Melbourne's changing light conditions.

According to Bruce Henderson Architects, the coloured glazing gives the building a distinctive identity while also providing privacy and solar shading, with residences oriented to capture views across the bay, city skyline and surrounding parklands.

Inside, <a href="https://www.apartments.com.au/interior-designers/designoffice">DesignOffice</a> has created interiors focused on natural light, efficient planning and enduring materials. Apartments feature engineered oak flooring, natural stone benchtops, floor-to-ceiling glazing and SMEG appliances, while a restrained material palette aims to complement the expansive outlooks rather than compete with them.

[smartcode_project:default project_id=4661 project_image_fid=372550]

Resident amenity has also been designed around everyday functionality rather than occasional use. Facilities include a concierge-serviced lobby, residents' lounge with fireplace, library and co-working space, gym, terrace garden with barbecue facilities, ground-floor café, and package delivery management.

The project's location continues to be one of its strongest drawcards. Positioned on Coventry Street, Verdé sits within walking distance of the National Gallery of Victoria, Arts Centre Melbourne, Royal Botanic Gardens and Albert Park Lake, while Southbank's dining precinct, Sturt Street trams and the new ANZAC Station are all nearby. The surrounding education catchment also includes Melbourne Grammar, Melbourne Girls Grammar, Mac.Robertson Girls' High School and several major university campuses.

The sales team says buyers have responded particularly well to the combination of location, design quality and long-term liveability.

"They're responding really positively to the quality of the design, premium resident amenities and the uninterrupted views. Many also appreciate the location and how connected it is to everything they need."

The ability to secure stamp duty savings before completion has also been a key factor for purchasers, alongside the opportunity to personalise finishes ahead of settlement.

With construction set to commence soon and more than half the apartments already sold, Verdé enters its next phase as one of the Arts Precinct's more established apartment developments, offering remaining buyers an opportunity to secure a residence before construction advances further. Expected completion is scheduled for late 2027.

[smartcode_project_cta:default project_id=4661]

Virgate's Verdé Southbank moves toward construction as sales fly past halfway stage

Downsizer-focused apartment development Kooyongkoot in Hawthorn has been recognised at the 2026 Better Future Melbourne Design Awards, taking home Gold and Silver awards in two categories.

<a href="https://www.apartments.com.au/new-apartments/kooyongkoot-hawthorn-1-kooyongkoot-road-hawthorn-vic-3122">Kooyongkoot</a>, currently being delivered by developer PQD and designed by Cera Stribley, received Gold in the Interior Design – Proposed category and Silver in the Architecture – Proposed category.

The dual recognition reflects the design approach behind the boutique development on prestigious Kooyongkoot Road, where the focus has been on creating homes for downsizers seeking the space, quality and functionality of a detached house within a low-rise apartment building.

Rather than maximising apartment numbers, <a href="https://www.apartments.com.au/developers/pqd">PQD</a> and <a href="https://www.apartments.com.au/architects/cera-stribley-architects">Cera Stribley</a> limited the development to just 18 residences, allowing for larger floorplans, greater privacy, generous landscaping and expansive communal spaces.&nbsp;The majority of the apartments also benefit from corner aspects, allowing for dual sources of natural light.

Now around 70 per cent complete and on track for completion in November 2026, Kooyongkoot will comprise a mix of garden residences, ter​race apartments, sub-penthouses, and is crowned by two half-floor penthouses with direct lift access and private rooftop terraces.

[smartcode_project:default project_id=102717 project_image_fid=355297]

The Silver Award for Architecture recognised the way the building responds to its prominent corner position at the ent​rance to Hawthorn's Scotch Hill precinct, one of Melbourne's most established residential neighbourhoods.

Rather than competing with the grand homes that line Kooyongkoot Road, the architectural approach focused on restraint and longevity, using curved brickwork, generous landscaping and carefully considered proportions to integrate with the existing streetscape.

"The form feels fluid and timeless, as though shaped by the landscape itself – architecture that belongs, rather than competes," said Chris Stribley, Co-Founder and Managing Principal of Cera Stribley.

The judging submission also highlighted practical innovations throughout the building, including lift cores servicing only nine homes each, a central landscaped lightcourt designed to bring daylight and ventilation into the building, and fully enclosed private storage rooms with lighting, power and shelving to better accommodate residents transitioning from larger family homes.

[smartcode_project:default project_id=102717 project_image_fid=355293]

The Gold Award for Interior Design recognised the project's focus on long-term liveability rather than display-home aesthetics.

According to the awards submission, the interiors were designed from the inside out, prioritising how homes would function over decades of daily use through generous proportions, practical storage, durable natural materials and flexible layouts.

The specification includes natural stone throughout, upgraded acoustic glazing, V-ZUG appliances and fully enclosed storage rooms, alongside an amenity offering focused on wellness, entertainment and everyday convenience.&nbsp;

Residents will have access to a gym and yoga studio, a wellness centre featuring traditional and infrared saunas, a cold therapy shower and treatment room, as well as a residents' lounge and golf simulator/cinema room for entertainment.&nbsp;Kooyongkoot has also considered the everyday convenience of its residents by offering a private carwash and pet wash facilities on site as well as dedicated parcel lockers and oversized fully enclosed storage rooms.&nbsp;

[smartcode_project:default project_id=102717 project_image_fid=355303]

The project's attention to detail has already resonated with buyers. Earlier this year, Kooyongkoot recorded one of Boroondara's highest apartment sales when an $8 million penthouse was purchased by a Melbourne CEO downsizing from a nearby family home.

"Every detail feels deliberate, from the overall design down to the smallest touches," the purchaser said.

"The level of quality and refinement is exceptional, but what really sold it was how liveable it felt... It felt like a place where everything had been considered, not just a luxury building."

[smartcode_project:default project_id=102717 project_image_fid=355304]

Sustainability also formed a key part of both award submissions. Kooyongkoot is targeting a minimum 7.5-star NatHERS rating across all residences, supported by passive design principles, high-performance glazing, EV charging infrastructure, water reuse systems and a wellness model focused on lower-energy dry facilities rather than pools and large wet areas.

Located within walking distance of Scotch College, Methodist Ladies' College, Koo​yong Lawn Tennis Club, Aubur​n Village and Camberwell Junction, Kooyongkoot continues to target owner-occupiers looking to remain in Melbourne's inner east without compromising on space or quality. A limited selection of two, three and four-bedroom residences remains available, with prices starting from $1.9 million.

[smartcode_project_cta:default project_id=102717]

Kooyongkoot wins Gold and Silver at Better Future Melbourne Design Awards

New apartment supply has become increasingly constrained across <a href="https://www.apartments.com.au/developments/parramatta-nsw-2150">Parramatta</a> in recent years, with fewer projects progressing through to completion as development conditions have become more challenging.

It makes <a href="https://www.apartments.com.au/developers/novm">NOVM</a>'s 2021-completed <a href="https://www.apartments.com.au/buildings/the-lennox-parramatta-12-phillip-street-parramatta-nsw-2150">The Lennox</a> one of the most recently completed residential towers on the Parramatta River, and among the newest apartment developments in Sydney's second CBD.

With the project largely completed before the sharp escalation in construction costs and inflation following the pandemic, The Lennox is now offering pricing that would be difficult to replicate in a comparable new development in Parramatta today, or across much of Western Sydney.

The majority of the 413 apartments at The Lennox sold before and shortly after completion. A limited release of the remaining apartments has recently been brought to market by capital partner <a href="https://www.apartments.com.au/project-marketer/equitifund-group">Equitifund</a>, with entry-level pricing from $700,000 and two-bedroom apartments available from under $1 million.

Rising above the Parramatta River at 12 Phillip Street, The Lennox comprises one, two, three and four-bedroom apartments, appealing to first home buyers, young professionals, families, downsizers and interstate investors seeking a completed apartment in one of Australia's fastest-growing economic centres.

[smartcode_project:default project_id=5743 project_image_fid=372394]

Rather than positioning Parramatta as an alternative to Sydney's CBD, Equitifund believes the city has reached a point where it stands on its own merits.

"Parramatta is no longer simply an alternative to Sydney CBD, it's becoming a destination in its own right," Equitifund Executive Chairman Greg Huxley said.

"The Lennox captures that evolution with a level of quality and amenity that's difficult to match at its price point."

[smartcode_project:default project_id=5743 project_image_fid=953]

Designed by <a href="https://www.apartments.com.au/architects/marchese-partners">Marchese Partners</a>, the tower responds directly to its riverfront setting through expansive glazing and open-plan layouts that maximise views across the Parramatta River and city skyline. Interiors feature engineered timber flooring, stone benchtops, stainless steel appliances and floor-to-ceiling glazing, while generous balconies extend the living spaces outdoors.

Marchese Partners says the project was conceived to balance high-quality apartment living with practical, long-term functionality, pairing larger, efficient floorplans with amenities more commonly associated with five-star hotels.

That emphasis continues through the resident facilities, which include a 20-metre rooftop swimming pool, fully equipped gym and wellness spaces, full-time concierge, a residents' lounge, function room, private lifts, secure basement parking and rooftop communal areas overlooking the Parramatta River. Ground-floor boardwalk retail and dining further activate the riverfront and integrate the building into the surrounding public realm.

[smartcode_project:default project_id=5743 project_image_fid=925]

Australian housing and finance group Equitifund has secured the remaining apartments, believing there are few completed apartment opportunities in Parramatta that offer the same combination of location, amenity and pricing.

Equitifund National Sales Director Ben Hamblett says buyers are increasingly recognising that premium apartment living no longer needs to come with Sydney CBD pricing.

"The Lennox is where aspirational living becomes attainable," Hamblett said.

"Wake to river and mountain views, step into Sydney's Second CBD, and arrive home to resort-calibre amenities, all without the harbour price tag."

Hamblett says owner-occupiers are also attracted by the convenience of having Westfield Parramatta, Church Street's dining precinct, Parramatta Park, Riverside Theatres, Western Sydney University and major transport connections all within walking distance.

"At The Lennox, lifestyle is not an afterthought, it is the foundation."

[smartcode_project:default project_id=5743 project_image_fid=5374]

The Lennox places residents within walking distance of Parramatta Square, Westfield Parramatta, Church Street Eat Street, Parramatta Station, the ferry wharf, Light Rail, the future Sydney Metro West, Parramatta Park and CommBank Stadium, reinforcing Parramatta's position as one of Australia's most connected metropolitan centres outside Sydney's CBD.

Equitifund says buyers visiting the display suite consistently comment on the quality of the finishes, generous floorplans, river and skyline views, and the walkability of the location. The project has attracted a broad mix of local professionals, upsizers, downsizers, buyers relocating from Sydney's inner suburbs and interstate investors seeking long-term growth opportunities.

That demand aligns with Parramatta's continued evolution as an economic powerhouse. Equitifund Research and Market Insights specialist John Bekiaris says sustained population growth, infrastructure investment and expanding employment opportunities continue to support long-term housing demand across the city.

"Parramatta has evolved from a satellite city into one of Australia's most important economic centres. Population growth, infrastructure investment and employment are all supporting sustained long-term housing demand."

[smartcode_project_cta:default project_id=5743]

The apartment price gap drawing Sydney buyers west

A luxury beachfront apartment at Rainbow Bay has more than doubled in value since it sold off the plan six years ago, setting a new local apartment record in the process.

The three-bedroom apartment in the Flow development on Petrie Street, the first of four new projects locally by Paul Gedoun's S&amp;S Projects, has sold for $7.4 million, after originally selling for $3.27 million when the project launched in 2020.

The seventh-floor apartment, comprising 187 sqm of internal living space and a 54 sqm balcony overlooking Froggies Beach and Snapper Rocks, was purchased by a local family.

The transaction was negotiated by Pezet Matheson director Kerry Pezet and equates to more than $30,000 per sqm.

Pezet said the sale reflected the limited opportunities to buy into the boutique beachfront development.

"The sale highlights the rarity of opportunities within the boutique beachfront development, where residences seldom become available," Pezet said.

"Flow is one of the Gold Coast's most tightly held buildings. Buyers from our database move quickly when residences become available, and achieving an off-market sale at $7.4 million demonstrates the depth of demand for property of this calibre."

<img alt="Flow" data-entity-type="file" data-entity-uuid="c585b206-2130-4eee-a50c-3f27c51a7c70" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-07-06%20at%208.33.25%E2%80%AFPM.png?VersionId=m3pHRDV62Y3fvN.XQuQHq.52ilTWpRLf" />

Flow was the first of four luxury apartment developments delivered by Paul Gedoun's S&amp;S Projects at Rainbow Bay and was completed in 2023.

Positioned on the beachfront overlooking Snapper Rocks, the residence includes three bedrooms, three bathrooms, a powder room and views stretching north along the coastline towards Surfers Paradise.

Pezet Matheson Residential principal Mitchell Lambert said buyers continued to prioritise quality beachfront apartments in tightly held locations.

"Flow Residences offers a rare combination of elevated beachfront positioning, architectural excellence, comprehensive resident amenity and premium finishes, which is exactly what discerning purchasers are seeking," Lambert said.

"The transaction further reinforces Rainbow Bay's reputation as one of Australia's premier coastal lifestyle destinations, where limited supply and growing demand continue to support strong market performance."

Pezet Matheson originally marketed and sold out Flow off the plan, making the latest transaction a return to one of the project's original buyers.

Paul Gedoun is selling his third project, <a href="https://www.apartments.com.au/new-apartments/radia-rainbow-bay-271-boundary-street-coolangatta-qld-4225">Radia Rainbow Bay</a>, after recently completing, and selling out, <a href="https://www.apartments.com.au/buildings/esprit-217-227-boundary-street-coolangatta-qld-4225">Esprit</a>. He has plans for a <a href="https://www.apartments.com.au/news/qld/first-look-s-s-projects-proposes-88-apartment-wellness-tower-at-coolangattas-boundary-street">fourth building</a>, 88 apartments on <a href="https://www.apartments.com.au/new-apartments/209-213-boundary-street-coolangatta-qld-4225">Boundary Street</a>.

Rainbow Bay apartment doubles in price since off the plan sale during pandemic

Melbourne

<html><body>
The North East region of Melbourne had the highest auction clearance rate on the weekend, according to CoreLogic’s latest report.
The property data firm says that out of the 138 auctions in the North East 88.4% resulted in a successful outcome.
This is followed by North West and Outer East with 82.9% and the Mornington Peninsula with 82.6%.
<a href="https://www.propertyobserver.com.au/images/2017/05/01/Screen%20Shot%202017-05-01%20at%2011.38.26%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/2017/05/01/Screen%20Shot%202017-05-01%20at%2011.38.26%20am.jpg" alt="">
The Inner region had the lowest auction clearance rate with only 75.1% of its 201 auctions cleared.
A three bedroom house at <a href="https://www.realestate.com.au/sold/property-house-vic-preston-125058290">88 May Street</a>, Preston (above) was sold in the weekend for $1.33 million.
Similarly a five bedroom house at <a href="https://www.realestate.com.au/sold/property-house-vic-greensborough-125160310">48 Killarney Ridge</a>, Greensborough (below) was sold in the weekend for $1.1 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/2017/05/01/48%20Killarney%20Ridge.jpg" alt="">
</body></html>

j.ballantyne1990-6AQqhLzZaK

North East Melbourne scores 88% weekend auction clearance rate: CoreLogic

<html><body>
The Outer East region of Melbourne scored the highest auction weekend clearance rate, according to CoreLogic’s latest report.
The property data firm says that out of the 76 auctions in the Outer East region 84.2 percent resulted in a successful outcome.
This was followed by the Inner East with 82 percent and the North East with 79.4 percent.
<a href="https://www.propertyobserver.com.au/images/2017/04/27/Screen%20Shot%202017-04-27%20at%2010.06.17%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/2017/04/27/Screen%20Shot%202017-04-27%20at%2010.06.17%20am.jpg" alt="">
The Inner region had the lowest auction clearance rate with only 65.5 percent of its auctions cleared.
A three bedroom house at <a href="https://www.realestate.com.au/sold/property-house-vic-knoxfield-125088298">81 David Street North</a>, Knoxfield (above) was sold for $1.505 million.
Similarly a four bedroom house at <a href="https://www.realestate.com.au/sold/property-house-vic-knoxfield-125102702">3 Azalea Court</a>, Knoxfield (below) was sold for $925,000.
<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/2017/04/27/3%20Azalea%20Court.jpg" alt="">
</body></html>

Outer East Melbourne area scores highest auction clearance rate: CoreLogic

<html><body>
More than 500 apartments are set to be built above Melbourne's The Glen shopping centre in Glen Waverley.
The air rights to the shopping centre have gone to Jeff Xu’s Golden Age Group by retail landlord Vicinity Centres and co-owner Perron Group.
Three residential towers are set for the site.
The first stage of the retail development was set to open late 2017 with and expected to be completed by 2020.
Vicinity said the apartment deal had cut the redevelopment costs to $460 million, from $490m, of which Vicinity’s share was 50 percent.
"After completion of the redevelopment, an initial yield of more than 6 per ent and an internal rate of return of more than 10 percent were likely," Vicinity said.
</body></html>

Apartment development slated for Melbourne's The Glen shopping centre

<html><body>
Newspaper House, a historic building in Melbourne’s Collins Street, has sold for $35 million, the latest in a run of strong commercial property deals in Melbourne's prime business district.
Singapore-listed construction company Lian Beng, which bought the property at 247 Collins Street in 2015 for about $23 million, sold it off to Malaysian conglomerate Oriental Holdings Berhad, according to The Australian Financial Review.
This latest deal was transacted on a yield of 4.2 per cent.
Built in 1884, Newspaper House was purchased by newspaper baron Sir Keith Murdoch's Herald and Weekly Times for £90,000 in 1932. 
It was given a facelift, with a new facade and a mosaic mural designed by Napier Waller in 1932.
Mervyn Napier Waller's "I'll put a girdle about the earth" features heroic human figures appear among scenes of commerce, construction and communication.
There's lots of gold, an echo of the Byzantine era, in the 1933 commission by Sir Keith Murdoch who needed more than an empire on Flinders Street.
Soon after the acquisition by the Singapore firm Lian Beng, the building was was leased out, including to Bupa Australia.
The property was put back on the market earlier this year.
"The property was incredibly well received by both the local and offshore markets," said CBRE’s Josh Rutman.
The deal was brokered by CBRE's Josh Rutman along with Knight Frank's Paul Henley.
Lian Beng was represented by Eu Ming Lim of of law firm Thomson Geer.
New buyer Oriental Holdings Berhad has other investments in the Melbourne market through its subsidiaries.
The transaction is another high-profile deal on Collins Street, including the sale of 395 Collins Street to private investor Yong Quek last year and AMP Capital's acquisition of 425 Collins Street, the AFR reported.
 
</body></html>

jonathanchancellor-7SQnKwU6yx

Historic Newspaper House in Melbourne changes hands for $35 million 

<html><body>
CBRE has been appointed to unload an office building in the northern end of Melbourne’s St Kilda Road business precinct.
Located on the corner of St Kilda Road and Kings Way, the 420 St Kilda Road property comprises a 10-level office building leased to major covenants, including ANZ bank and APP Corporation.
An International Expressions of Interest campaign will be launched next month to promote the asset, which boasts 10,500sqm of net lettable space, on behalf of CEL Australia.
Over the past 24 months, the St Kilda Road office market has emerged as an attractive investment market, recording one of the highest rates of net effective rent growth nationwide of over 9%.
Commenting on the listing, CBRE’s Kiran Pillai remarked that the property was well positioned to capitalise on the continued strong demand from tenants for this location.
“Steady withdrawals of secondary space in St Kilda Road for conversion and redevelopment has underpinned incredibly strong tenant demand for space in the remaining prime grade buildings,” Pillai said.
“The property’s prime corner position at the northern end of the precinct, combined with an efficient floor plate allowing for an adaptive asset plan, will hold the asset in excellent stead long into the future.”
The location is expected to further benefit from the new Melbourne Metro Rail project with the Domain station to be located within around 300 metres of 420 St Kilda Road.
CBRE senior director Neva Courts added the St Kilda Road market had emerged as a key investment destination for domestic and offshore investors.
“420 St Kilda Road offers both security of income and growth in the short to medium term in addition to long term opportunities for the site, which could include a potential redevelopment to residential or hotel,” she explained.
Michael Ng, executive director of CEL Australia, said the sale of 420 St Kilda Road will allow CEL Australia to redeploy funds into our current development projects in Melbourne and Perth in order to seek higher returns. 
“We are also looking into new development and investment opportunities across key Australian cities.”
The 420 St Kilda Road property has come to the market after the recent sale of 5 Queens Road in late 2016, by Charter Hall’s Office Trust. The sale, also brokered by CBRE, represented a passing yield of 5.64% and capital value of $6,665/sqm.
</body></html>

CEL Australia lists prominent St. Kilda office tower

<html><body>
Developer Beulah International and design practice Fender Katsalidis Architects have joined forces to deliver an apartment project in Melbourne’s inner north east, known as Hallmark Ivanhoe.
Ranging in price from $420,000 to $1.5 million, the Hallmark Ivanhoe building is comprised of 35 apartments over five levels. Residents will have the choice of one, two, three and four bedroom apartments, with each offering treetop views and private outdoor terraces.
Interiors feature a neutral colour palette throughout, from reconstituted stone and natural stone to light and dark joinery, which are then complemented with bronze fixtures and finishes.
Nicky Drobis, director of design at Fender Katsalidis, commented that the key inspiration for Hallmark Ivanhoe stems from the diverse architectural history of Ivanhoe, including modernist architecture and the sophistication of art deco architecture.
“Hallmark Ivanhoe is a very elegant and simple building; it takes cues from the strength and sense of presence from modernist architecture in its simplicity and form, but also from the lightness and sophistication of art deco architecture within Ivanhoe,” she said.
“Throughout every era new architecture has been brought into Ivanhoe that’s been relevant and contemporary of its time, so we were really hoping to do the same thing with this building, Hallmark Ivanhoe,” she said.
<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/2017/04/12/HallmarkIvanhoe_Interior.jpg" alt="">
Drobis added the culture of Ivanhoe is still very similar to when she lived in the suburb growing up. 
“Ivanhoe is quite unique and special in that it’s a remarkably green space, it’s well located, it’s only 10kms from the city, but as a postcode and as a neighbourhood, it has everything you need.” 
<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/2017/04/12/HallmarkIvanhoe_Bathroom.jpg" alt="">
Kitchens have been designed in collaboration with renowned chef Adam D’Sylva and feature premium Gaggenau appliances, which are complemented and encased by natural stone and luxurious timber finishes.
Beulah International executive director Adelene Teh said Hallmark Ivanhoe will be suited to local downsizers who value great design.
“A key component of our vision is to add character and depth to the local communities in which we develop, ensuring strong emphasis is always placed on embracing the cultural nuances and history that makes each suburb or project unique.
“Residents within Hallmark Ivanhoe may be looking to downsize in size, but step up in terms of design, quality and lifestyle offerings,” she concluded. 
 To register your interest, please visit <a href="https://www.hallmarkivanhoe.com.au/" target="_blank">www.hallmarkivanhoe.com.au</a>.
</body></html>

Beulah International and Fender Katsalidis Architects launches luxury residences in Melbourne’s Ivanhoe

<html><body>
<div>
Melbourne apartment price growth leaped ahead of house price growth in the first three months of the year, as unit values surged 4.6 per cent in the country's second-largest city.
House prices in the Victorian capital jumped 4 per cent in the March quarter, Domain Group chief economist Dr Andrew Wilson's latest State of the Market Report showed.
Melbourne's growth outdid Sydney, where house prices gained 2.8 per cent and units just 1.3 per cent.
"Melbourne is the clear top performer and will continue to stay there," Dr Wilson told Domain. 
</div>
<div>
Melbourne houses will rise 10 per cent this calendar year and units 7 per cent, while Sydney houses will gain 7 per cent and units 3 per cent, Dr Wilson said.
</div>
<div>
He said the strength of Melbourne apartment prices was surprising and indicated that despite some falling in off the plan value, the largely overseas investors who had purchased them were holding on to them, Dr Wilson said
</div>
<div>"We're not seeing any volume of sales in the CBD market," he said.</div>
<div> </div>
<div class="cq-article-content-media section">"That market is in a holding pattern, particularly from international investors who've purchased. They're not putting them onto the market for rental or sale and the growth is coming from suburban units."</div>
<div class="cq-article-content-media section"> </div>
<div class="cq-article-content-media section">Part of Melbourne's rise was due to the July elimination of stamp duty for first home buyers.</div>
<div class="cq-article-content-media section"> </div>
<div class="cq-article-content-media section">
<div class="cq-article-content-media section">The latest report puts Sydney's median house price at a record $1,151,000. Melbourne sits at $843,000.</div>
<div class="cq-article-content-media section"> </div>
<div class="cq-article-content-media section">
Melbourne’s unit median sits at a record $494,000. Sydney's unit median sits at $717,000.</div>
<div class="cq-article-content-media section"> </div>
<div class="cq-article-content-media section">In Brisbane the unit prices are going backwards and have seen a fall of 3.8 per cent to $376,000, the biggest drop since 2000.</div>
<div class="cq-article-content-media section"> </div>
<div class="cq-article-content-media section">AMP Capital chief economist Shane Oliver said higher prices meant people had to borrow more, which added to worries about the level of household debt.</div>
<div class="cq-article-content-media section">
“They’re certainly not welcome numbers,” Oliver said.
“The only people who this is good news for are those who are looking to sell … and move out of Melbourne into regional areas or to cities and states which haven’t seen the gains in recent times.” 
 
 
 
</div>
</div>
</body></html>

Melbourne apartment prices rising faster than houses in March 2017 quarter: Domain

<html><body>
After 40 years based in Melbourne’s inner suburbs, design firm SJB has relocated to the city, leasing 860sqm across two fully self-contained floors at 18 Oliver Lane.
Colliers International’s Milly Stockdale negotiated the six-year deal on behalf of Marks Henderson. The gross asking rent is believed to be in the vicinity of $600 per sqm.
“This heritage building in this famous CBD laneway is of huge architectural significance, being the first conventional building in Australia constructed wholly of reinforced concrete,” she said.
“It benefits from a superior location, surrounded by the best retail amenity.”
<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/2017/04/19/18%20Oliver%20Lane%20Melbourne%202.jpg" alt="">
Ms Stockdale said SJB was attracted to the exceptional natural light from both Oliver and Higson Lanes and the historical and unconventional nature of the property.
Director of SJB Architects, Michael Bialek, said the company was keen to support the City of Melbourne’s strategy of retaining the unique aspects of CBD laneways through activation and diversity.
“This move for SJB heralds a cultural shift within our firm in response to the needs of our clients and team members,” he said.
<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/2017/04/19/18%20Oliver%20Lane%20Melbourne%203.jpg" alt="">
18 Oliver Lane is 100 per cent leased, which Ms Stockdale said was a testament to the high demand for “edgy” laneway space in the CBD.
</body></html>

SJB moves to city after four decades of suburban business

<html><body>
The final floor in Chadstone Shopping Centre's $85 million Tower One development in Victoria has been leased to Cotton On Group.
Cotton On Group has signed up for 1,700sqm on level six in the 11-level, 16,000sqm building.
Rob Joyes from Colliers International said Tower One has been an outstanding success in terms of the rapid take-up of space, reaching 100 percent committed occupancy within three months of practical completion.
“Net rents achieved have ranged from $350 per sqm net to $365 per sqm net,” he said.
"The tenant mix was largely characterised by the property and retail sectors, including Colliers International's south-east office and the tower owners themselves, Gandel Group and Vicinity Centres.
“The Body Shop, Shaver Shop, Ricegrowers (SunRice) and Cotton On have gravitated toward the benefits of being closely located to their retail operations within Chadstone Shopping Centre,” he said.
Anneke Thompson, Colliers International’s national director for research, said strong demand in the inner-eastern suburbs had fuelled record effective rental growth.
“In the year to March 2017, effective rents have increased by 9.1 percent, the strongest increase we have seen since our data series began,” she said.
“Given the low supply levels in the immediate outlook, further increases are forecast and we expect to see an increase in effective rents of 9.0 percent during the next 12 months.”
</body></html>

Chadstone Tower One reaches capacity nine months ahead of schedule

<html><body>
Melbourne’s western region had the highest score for weekend auction clearance rate, according to CoreLogic’s latest report, but the Mornington Peninsula was the busiest over the Easter break.
The property data firm says that Melbourne’s western region scored 100 percent with all 17 auctions resulted in a successful outcome.
The South East region had a score of 70 percent out of its 10 auctions.
<a href="https://www.propertyobserver.com.au/images/2017/04/18/Screen%20Shot%202017-04-18%20at%2010.28.36%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/2017/04/18/Screen%20Shot%202017-04-18%20at%2010.28.36%20am.jpg" alt="">
</body></html>

Melbourne

Editor's Picks

Have something to contribute?

Developments

New apartments

New townhouses

News

Melbourne

Editor's Picks

Receive the latest news stories to your inbox

Have something to contribute?

Developments

New apartments

New townhouses

News