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 

<section data-scroll-anchor="false" data-testid="conversation-turn-6" data-turn="assistant" data-turn-id="request-WEB:84a2af5e-d7cf-4ddf-922a-f4d44d6c6caa-2" data-turn-id-container="request-WEB:84a2af5e-d7cf-4ddf-922a-f4d44d6c6caa-2" dir="auto">
<section data-scroll-anchor="false" data-testid="conversation-turn-2" data-turn="assistant" data-turn-id="request-WEB:5a5ab36c-8dd3-454c-b456-c501f22f0eb4-0" data-turn-id-container="request-WEB:5a5ab36c-8dd3-454c-b456-c501f22f0eb4-0" dir="auto">
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.
</section>
</section>

[smartcode_project_cta:default project_id=112661]

SIERA kicks off construction at Northcliffe tower Exhale

Local Little Bay residents, along with buyers from premium postcodes across Sydney’s affluent Eastern Suburbs, have dominated purchases in developer-builder Urban Property Group’s first Eastern Suburbs apartment development, <a href="https://www.apartments.com.au/new-apartments/este-little-bay-jennifer-street-little-bay-nsw-2036">ESTE Little Bay</a>.

The $250 million coastal project, one of the first new developments in the area in several years, has proven particularly popular with downsizers, especially those from Coogee and Bondi. One Double Bay downsizer paid $4.7 million for a four-bedroom penthouse, setting a new local apartment price record in the process.

Buyers have been attracted to the combination of coastal tranquillity, premium design and amenity-rich neighbourhood living. The walkable village setting, along with proximity to three of Sydney’s leading golf courses, New South Wales Golf Club, St Michael’s Golf Club and The Coast Golf Club, has also been a key drawcard.

[smartcode_project:default project_id=112343 project_image_fid=352689]

Built across two low-rise buildings designed by <a href="https://www.apartments.com.au/architects/hill-thalis-architecture-urban-projects-pty-ltd">Hill Thalis</a> and set along a lush, landscaped green spine, designed by leading landscape architect <a href="https://www.apartments.com.au/landscape-architect/arcadia-landscape-architecture">Arcadia</a>, ESTE Little Bay offers a collection of one, two, three and four-bedroom residences with interiors by Richards Stanisich.

<a href="https://www.apartments.com.au/developers/urban-property-group">Urban Property Group</a> Sales Director, Tom McIvor said the response to ESTE has been "nothing short of extraordinary."

“Buyers have been quick to recognise ESTE as a rare opportunity to invest in a coastal sanctuary that offers both seclusion and connectivity to the heart of Sydney,” McIvor said.

[smartcode_project:default project_id=112343 project_image_fid=352687]

<a href="https://www.apartments.com.au/project-marketer/srm-residential">SRM Residential</a> Senior Director, <a href="https://www.apartments.com.au/project-marketer/srm-residential">Clayton Ross</a> said the local market has responded incredibly well, driven by ESTE’s exceptional location and the rarity it offers.

“We’ve seen strong interest from a variety of buyer groups, all of whom are drawn to the exclusivity and quality of the build and construction by the 4.5-star iCIRT-rated builder / developer, Urban Property Group. There’s truly nothing else like it along Sydney’s coastline.”

[smartcode_project:default project_id=112343 project_image_fid=352690]

The project also includes robust buyer protections, including Resilience Insurance’s Latent Defects Insurance, providing 10 years of structural cover, and an independent iCIRT-rating of the developer.

“The iCIRT-rating adds another layer of confidence,” Ross added. “Buyers see it as a safeguard for their investment and their lifestyle.” A highlight of ESTE’s offering is its exclusive wellness amenities, including a heated rooftop infinity pool and outdoor heated spa, a state-of-the-art Technogym fitness centre, and a sauna.

<a href="https://www.apartments.com.au/new-apartments/este-little-bay-jennifer-street-little-bay-nsw-2036">ESTE Little Bay</a> is topped out and is on track to complete towards the end of 2026, with residents moving in before Christmas.

[smartcode_project_cta:default project_id=112343]

Eastern Suburbs buyers snap up ESTE Little Bay apartments

Melbourne

<html><body>
A local investor has paid $680,000 at auction for a retail shop and residential property within the Dingley Village retail precinct on Melbourne’s south-eastern bayside.
Sold with vacant possession, the 4 Pauline Avenue property comprises a single level shop with a one bedroom self-contained residence at the rear.
It sits on a 200 square metre site with two street frontages.
Teska Carson’s Anthony Choi and George Takis advised the property sold after a contest between three bidders on a land rate of $3400 a square metre, well above expectations.
He said the premises previously traded as a milk bar and was currently fitted out for retail occupation, however it was suitable for other uses such as food, speciality retail or office, subject to council approval.
Dingley Village has a Woolworths, BWS, Dingley Cellars, Nova Pharmacy, fast food operators and a number of professional services.
"Properties such as this in well-established retail precincts do not come up often and as such present a great opportunity for the small/entry level investor," Takis said.
The vendor was a private investor.
</body></html>

j.ballantyne1990-6AQqhLzZaK

Former Dingley Village milk bar sells for $680,000

<html><body>
The Outer East region dominates all other regions in Melbourne with the highest auction clearance rate, according to CoreLogic’s latest weekly report.
The property advisory firm says that out of the 78 auctions known to CoreLogic 84 percent were sold under the hammer.
<a href="/images/2016/11/21/Weekly%20clearance%20rate%20Melbourne.jpg" target="_blank">Click to enlarge</a>
<img src="/images/2016/11/21/Weekly%20clearance%20rate%20Melbourne.jpg" alt="">
This is followed by the West with 83% and both the Inner South and South East region with 80%.
The region with the lowest auction clearance rate was the North West where only 75% of its 86 known auctions were sold.
<a href="/images/2016/11/21/Melbourne%20sub%20regions.jpg" target="_blank">Click to enlarge</a>
<img src="/images/2016/11/21/Melbourne%20sub%20regions.jpg" alt="">
</body></html>

West region takes second place in Melbourne's auction clearance rate: CoreLogic

<html><body>
Melbourne's top sale was a contemporary home at St Kilda.
The five bedroom 1880s home with modern Nicholas Murray-designed extension at <a href="https://www.realestate.com.au/sold/property-house-vic-st+kilda-123935874" target="_blank">10 Charlotte Place</a> fetched $4.4 million.
The property last traded at $875,000 in 2004 offering an unusually large parcel of land in St. Kilda with detached heritage graded weatherboard Victorian residence.
The brief to <a href="https://nma.net.au/project/charlotte-street-st-kilda/" target="_blank">NMA </a>was to create an extension that would transform the house into a home for a young family of four.
The client specifically wanted to emulate his grandmother's 1960’s Brighton home which he had grown up loving with it’s simple lines and early modern flavour.
Heritage restraints meant the two storey extension had to be set well back from the street facade.
Huge expanses of double glazing meant the dwelling and landscape flowed seamlessly.
The most challenging issue with the project was that it was surrounded by two storey blocks of flats.
This lead to a design solution where the two wings of the extention flanked a central private courtyard and restricted views from surrounding buildings.
Tall landscaping around the perimeter of the rear yard achieved a similar outcome.
</body></html>

jchancellor-FAypfDUnLy

Nicholas Murray-designed St Kilda home sale

<html><body>
The outer east region of Melbourne has the highest auction clearance rate, according to CoreLogic’s latest weekly report.
The property advisory firm says that out of the 62 auctions that are known to CoreLogic 83% were sold under the hammer.
This is followed by the north-east with 80% and the Mornington Peninsula 79%.
<a href="/images/2016/11/17/Melbourne%20sub%20regions.jpg" target="_blank">Click to enlarge</a>
<img src="/images/2016/11/17/Melbourne%20sub%20regions.jpg" alt="">
The region with the lowest auction clearance rate was the south-east, where only 66% of the 123 auctions known to CoreLogic were sold.
</body></html>

North-east Melbourne performing under the hammer: CoreLogic

<html><body>
An office in the Melbourne CBD is for sale.
The office at 412 Queen Street has light from three sides.
The 343 square metre space offers a vacant position with a fully self-contained office, including comprehensive fit-out, bathrooms, kitchen, reception area, direct street access, balcony and outdoor area with potential future residential conversion.
<a href="https://www.realcommercial.com.au/property-offices-vic-melbourne-502152814" target="_blank">The property</a> has been marketed as suitable for SMSF purchase.
It has three secure basement car spaces.
Expressions of interest close November 24 through CBRE.
</body></html>

Melbourne CBD office for sale on Queen Street

<html><body>
Melbourne based Pluto Property has sold a Derrimut industrial property.
It was bought by a private investor for $3.8 million on a 7.3 percent yield in a deal brokered by Savills agents Chris Jones and Ben Hegerty.
The 2/80-100 Fulton Drive property comprises a 3240 square metre (GLA) office and warehouse facility on a 7104 square metre site.
The property is located on the Gilbertson’s Estate about 12 kilometres west of the CBD and within easy reach of major arterial networks.
Mr Jones said the property was sold with approximately three years remaining on the initial lease term to global supply chain solutions company, BR International Logistics, at an annual rental of $277,661.
He said the sale represented a GLA value rate of $1173 a square metre.
</body></html>

Pluto sells Derrimut industrial for $3.8 million

<html><body>
The price of larger industrial land allotments in some of Melbourne’s northern and western industrial precincts has risen by up to 23 percent in the year to date as a shortage of ready to go development site, according to Savills.
Savills Industrial Director, Michael Green, sees further rises are possible as the availability of sites is not expected to improve significantly before 2018.
"We have seen significant rises in land values in some key pockets and that has been driven by the shortage of development options at the same time as low interest rates are driving a surge in pre-commitments and leasing demand has risen more than 25 per cent on the long term average.
"With delivery of key subdivisions a little way off we are likely to see that upward pressure on values remain until closer to 2018 especially with the strong push from occupiers wanting to get into the market,’’ Mr Green said.
Savills research identified approximately 505,200 square metres of industrial accommodation reported leased in the Northern and Western industrial markets in the 12 months to September.
This is up just over 26 per cent on the five year average of 402,193 square metres.
Nearly a third of the total leased was in pre-commitments.
<a href="/images/2016/11/15/Untitled1.jpg" target="_blank">Click to enlarge</a>
<img src="/images/2016/11/15/Untitled1.jpg" alt="">
Associate Director Research in Melbourne, Monica Mondkar, said the increases in land value were generally related to land parcels sized between one to five hectares and 10 hectares plus, in precincts within close proximity of key road infrastructure.
"Proximity to freeways and major arterials remains the key long term driver of choice for larger industrial users, particularly those from the transport and logistics sectors, and our research would suggest that quality infrastructure projects in the pipeline such as the Western Distributor and the widening of the Tullamarine Freeway will attract the same level of demand,’’ Ms Mondkar said.
She said while land at the smaller end of the scale, currently at $230 a square metre, had moved only minimally, over the ten years since September 2006, one to five hectare allotments had seen significant change rising 48 per cent from $135 a square metre in 2006 to $200 a square metre in 2016.
The latter, Ms Mondkar said, had been driven by institutional grade property development, buildings designed to attract large occupiers and the attention of large institutional buyers
She said the most dramatic rise in 2016 had been the 23 per cent increase in values of 10 hectare plus allotments.
Land which was selling in January for $110 a square metre is now fetching $135 driven by developers’ land banking requirements.
Ms Mondkar said the mooted North-East Link project, which would connect industrial operators in the east and southeast to the north without going through the city, the State Government’s commitment to develop a freight and logistics hub at Avalon Airport, along with the Western Distributor and Tullamarine Freeway widening projects, would all underpin the continued dominance of Melbourne’s north and west as Australia’s key industrial market.
</body></html>

Industrial land values up across Melbourne

<html><body>
An institutional investor has acquired a 100 percent interest in the recently redeveloped St. Collins Lane CBD Shopping Centre.
The sale was negotiated by JLL’s Simon Rooney on behalf of LaSalle Asia Opportunity Fund III.
Located in the heart of Melbourne along the renowned Collins Street, St. Collins Lane offers over 9,000 sqm of GLA across four floors (plus a mezzanine level) comprising over 60 stores.
When offered to the market for sale, prior to St. Collins Lane being open, it had strong pre-commitment from a number of leading international brands including Coach, TAG Heuer, Reiss, Maje, Sandro Paris, Zadig &amp; Voltaire and The Kooples.
A host of luxury Australian brands are also committed to the property, as well as popular restaurants including Burger Project and Los Vida – both a Melbourne first.
Debenhams recently announced they would be opening their first store in St. Collins Lane, further enhancing the strong tenancy mix.
St. Collins Lane sits below the Novotel Melbourne on Collins which sold for AUD 237 million to Frasers Hospitality Trust earlier in September, realising a total $484m for LaSalle.
<img src="/images/2016/11/15/IP004.20160512-AC0I6118.jpg" alt="">
JLL’s Head of Retail Investments – Australasia, Simon Rooney said the revitalisation of the CBD retail core has driven further strengthening of investor demand for these high quality assets and this was reflected in the competitive sale process for St. Collins Lane.
2016 already reflects a record year for CBD retail transactions with $1.6 billion recorded to date, eclipsing the $1.2 billion in 2015," he said.
Major CBD transactions – last 12 months
<table border="1" cellspacing="0" cellpadding="0"><tbody>
<tr>
<td valign="top" width="212">
Property
</td>
<td valign="top" width="99">
Purchase price
</td>
<td valign="top" width="92">
Indicative yield
</td>
<td valign="top" width="80">
Sale date
</td>
</tr>
<tr>
<td width="212">
Carillon City, WA
</td>
<td width="99">
$140,000,000
</td>
<td width="92">
5.47%
</td>
<td width="80">
October 2016
</td>
</tr>
<tr>
<td width="212">
Myer Bourke Street Mall, VIC (33.3%)
</td>
<td width="99">
$151,300,000
</td>
<td width="92">
4.62%
</td>
<td width="80">
August 2016
</td>
</tr>
<tr>
<td width="212">
David Jones – 77 Market Street Sydney, NSW
</td>
<td width="99">
$360,000,000
</td>
<td width="92">
4.50%
</td>
<td width="80">
August 2016
</td>
</tr>
<tr>
<td width="212">
The Myer Centre Brisbane, QLD (25%)
</td>
<td width="99">
$192,100,000
</td>
<td width="92">
6.00%
</td>
<td width="80">
May 2016
</td>
</tr>
<tr>
<td width="212">
MidCity Centre, NSW (75%)
</td>
<td width="99">
$320,000,000
</td>
<td width="92">
4.77%
</td>
<td width="80">
May 2016
</td>
</tr>
<tr>
<td width="212">
World Square, NSW (50%)
</td>
<td width="99">
$285,000,000
</td>
<td width="92">
4.45%
</td>
<td width="80">
December 2015
</td>
</tr>
<tr>
<td width="212">
Rundle Place &amp; 80 Grenfell St, SA
</td>
<td width="99">
$400,000,000
</td>
<td width="92">
-
</td>
<td width="80">
December 2015
</td>
</tr>
</tbody></table>
“There is still very robust demand from investors who are seeking to acquire major CBD retail assets given their defensive nature and potential to generate solid income growth through increased population density, infrastructure improvements and employment growth.
Interest for St. Collins Lane was primarily led by offshore capital sources, with their lower cost of capital and strong preference for CBD retail assets. Although offshore investors have moved into other retail categories in recent years – primarily sub-regional retail – CBD assets remain the top preference for groups with a core strategy,” Mr Rooney said.
</body></html>

Sale of redeveloped St Collins Lane Melbourne secured by JLL

<html><body>
The Outer East of Melbourne takes the top spot for the highest Melbourne auction clearance rate, according to CoreLogic’s latest weekly report.
The property advisory firm says that 86 percent of its known 59 auctions were sold under the hammer.
This is followed by the West with 82 percent and North East with 80 percent.
<a href="/images/2016/11/14/Melbourne%20sub%20region.jpg" target="_blank">Click to enlarge</a>
<img src="/images/2016/11/14/Melbourne%20sub%20region.jpg" alt="">
The lowest region was the South East where only 67 percent of its known 117 auctions were sold.
</body></html>

86 percent of outer eastern Melbourne's auctions sold: CoreLogic

<html><body>
The ABC has put its Selwyn Street, Elsternwick property on the market through Savills Australia. 
The property comprises offices, storage facilities and some of the ABC’s Melbourne television studios.
It has produced iconic Australian television productions.
The corner site of 6,155 square metres is located nine kilometres from Melbourne’s CBD.
It is zoned Mixed Use, includes six titles and has frontages to Selwyn Street (110 metres) and Sinclair Street (41 metres) as well as the use of a rear laneway.
The onsite buildings, total approximately 5,000 square metres, include a two level office, several warehouses and a two level carpark.
The site is within 100 metres of Elsternwick station, trams and retail facilities along Glen Huntly Road, while recreational reserves and several schools are all within one to two kilometres.
<img src="/images/2016/11/14/2-16%20Selwyn%20St%20ABC%20Elsternwick%20aerial.jpg" alt="">
Given its attributes, Savills’ State Director, Clinton Baxter, who is marketing the property with Jesse Radisich and Nick Peden, said the property would undoubtedly attract a great deal of attention.
"The existing buildings date back to the 1950s and offer a wide range of potential uses in what is one of the best and most highly credentialed development locations in Melbourne,’’ Mr Baxter said.
The offices, storage facilities and studios will be decommissioned next year as the productions move to its new facility at the ABC's studios in Southbank.
The property will be sold following an expressions of interest process, closing December 6.
The ABC TV Websters Project building on the corner of Selwyn and Sinclair Streets was described in Architect magazine as a "sensitive program of alteration and extension in a mixed area in Elsternwick. It won a commendation at the 1994 Victorian RAIA awards.
</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