The residential transformation of St Kilda Road is set to continue into with more new apartment plans for the sought-after boulevard.

Wing Tai Asia has lodged plans for a major residential tower at 464-466 St Kilda Road, replacing the former VACC House with an 18-storey mixed-use development designed around a retained heritage podium and a sculpted contemporary tower.

The proposal, prepared under Victoria’s Significant Residential Development with Affordable Housing pathway, would deliver 325 apartments and ground-floor retail across the prominent 4,653 sqm boulevard site in Melbourne’s St Kilda Road North Precinct.

The project centres on the adaptive reuse of the site’s heritage-listed VACC Building, an eight-storey office designed by Bernard Evans that has occupied the address for decades. Planning documents state the development would involve “carefully dismantling and conserving off-site the original metal fabric of the podium visible from St Kilda Road,” before reinstating it as the defining frontage of the new scheme.

Above the restored podium, Wing Tai is proposing a curvilinear residential tower. The scheme includes 172 one-bedroom apartments, 63 two-bedroom apartments, 66 three-bedroom apartments, and 24 four-bedroom apartments, alongside two ground-floor food and beverage tenancies fronting St Kilda Road.

The tower has been designed with substantial articulation and variable setbacks to minimise perceived bulk and maintain view corridors along the boulevard. Urbis, which prepared the planning report, said the design “has been significantly articulated through a curvilinear design” with “an interplay with materials, façade expression and depth” to create visual separation and visual interest.

The proposal also includes 254 basement car spaces, landscaped pedestrian links connecting St Kilda Road and Queens Lane, and a biophilic landscape strategy featuring canopy trees, raised planters, cascading greenery and a glass oculus pool overlooking the eastern frontage.

Planning documents confirm the $270.1 million development will contribute 3 per cent of project costs to the Social Housing Growth Fund as part of the application process.

Wing Tai acquired the St Kilda Road property in 2018 alongside Abacus Property Group for $95.38 million, before later consolidating ownership of the site. The property previously served as the Victorian Automobile Chamber of Commerce headquarters for around 60 years.

The transformation of the St Kilda Rd boulevard is already beginning to materialise, with a number of high-profile projects recently completed, launched, or approaching launch as developers continue to back the long-term appeal of the precinct.

Among the most notable recent completions is Louise by Samuel Property Group, just off the strip on Queens Lane, the same pocket Hirsch &amp; Faigen recently launched The Queensbury. Mirvac is too on the same street with The Albertine, which is approaching completion.

Dexus recently secured approval for its slice of St Kilda Road, while Gurner also has approved plans for the precinct.

Joel Robinson

Wing Tai unveils 325-apartment St Kilda Road tower on former VACC House site

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>

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

Melbourne

<html><body>
The residential market in Melbourne and inner eastern suburbs has remained steady over the 2015/16 financial year, however, recent restrictions on money leaving China and foreign investors borrowing in Australia has created some uncertainty, according to valuation firm Herron Todd White's July 2016 residential market report.
CBD, City Fringe and Inner to Middle Eastern suburbs
With some banks stopping lending to foreign borrowers, the apartment market has begun to flatten and there are concerns about oversupply with an excess of 10,000 apartments to be completed within the city of Melbourne in 2016/17, it says.
The report explores what a first home buyer or investor can buy for half-a-million dollars.
"$500,000 will not buy you a lot of housing within the CBD or the inner east, however, there are some options. $500,000 in the Melbourne CBD can get you a two-bedroom one-bathroom apartment with a car space," says HTW.
A little further out in the city fringe, you can comfortably get a one-bedroom one-bathroom apartment with a car space for under $500,000. Further out, for under $600,000 you can get a good sized two to three-bedroom unit in Box Hill or Blackburn in Melbourne’s middle east.
"We have been unable to find a single sale of a detached dwelling in the Inner to middle east under $500,000. It is unlikely that these types of properties will still be available at this price point in the short to medium term."
A rental return between 4 percent and 5 percent is likely for CBD and between 3% and 4 percent in the inner to middle eastern suburbs.
As an example of a recent sale in the sub-$500,000 range, a one-bedroom apartment (picture below) at <a href="https://www.realestate.com.au/property-apartment-vic-melbourne-120871301" target="_blank">1710/83 Queens Road Melbourne</a> sold for $475,000. 
<img src="/images/HTW-Melb.png" alt=""> 
 
 
</body></html>

prateek24-ezbwHMbNAk

Inner city Melbourne doesn't offer much in $500,000 property range: HTW

<html><body>
<img src="https://counter.theconversation.edu.au/content/57114/count.gif" alt="The Conversation" width="1" height="1">
GUEST OBSERVER
One of the startling facts about the Brexit vote was the deep division between the city of London and the rest of the country.
There was clearly a sense that change was working to the advantage of the urban elites, and often to the detriment of people who lived outside those privileged areas.
The recent Australian election reveals some of the same division but within the major cities rather than between city and the regions. Inner-city areas voted quite differently to the suburbs.
The fight over Melbourne’s East-West Link road project played out in those terms. The plan was heavily opposed by inner-city residents who had access to good public transport (trams, trains, buses, bicycles etc) and supported by residents of the suburbs who wanted improved cross-city road transport. The inner-city elite won.
We now have a similar but more egregious case evolving in Melbourne. The state government is supporting the construction of a project called the Western Distributor. It is basically a plan to improve the flow of goods in and out of the Port of Melbourne (which is in the CBD). This provides a significant benefit to the people of the western suburbs – that is, to the poorer half of the city.
There are two advantages to the city’s west. It will dramatically reduce the number of trucks passing along suburban streets and it will reduce travel times from the west to the north of the city. The government’s evaluation is that it will:
… take 22,000 vehicles including 6,000 trucks off the West Gate Bridge daily, remove up to 6,000 trucks from local streets in the inner west, improving amenity, air quality and safety … [and] reduce serious injury crashes by 20 percent.
The Victorian government promotes the benefits of the Western Distributor Project.
There is also a broad economic advantage to Victoria as a result of better logistics flows. Melbourne is a major container port and improvements to the movement of freight produce advantages for all Victorians: the project will “cut travel time to the port by up to 50%, and deliver an annual A$35 million saving to the freight industry”.
Opposition based on self-interest
The inner city is opposed to the project. The grounds put forward are revealing. City of Melbourne Greens councillor Cathy Oke said:
No city in the world is encouraging cars into the CBD so I can’t see how this project is a winner for our liveability status.
The state Greens MP for inner-city Melbourne, Ellen Sandell, makes the same argument:
No modern, global city is trying to bring more cars into its CBD. We should be investing even more in public transport, cycling and pedestrian infrastructure and ways to get trucks off streets in the west – not new freeways that bring cars into the city.
These are clearly selfish propositions. Inner-city residents do not want any more cars in the city regardless of the benefits that might accrue to other residents of Melbourne, and regardless of any broader economic benefits for the city and the state. The fact that the people of the west are poorer, have worse public transport, worse health outcomes and high levels of unemployment, is seen as unimportant.
A recipe for social divisions
These are the sort of elite positions that created Brexit and the broader political unhappiness in Europe and the US. If the inner-city residents are going to be this selfish, then we can expect to see some political response from the suburbs.
The inner city is spoilt. Inner-city residents have free trams in Melbourne, paid for by people in the suburbs. Inner-city residents have all of the Melbourne arts precincts and all of the cultural venues, also all subsidised by people in the suburbs. The inner city also has all of the major sporting venues, again all subsidised by the suburbs.
If we are to avoid the rise of populist concerns seen in other countries, the inner-city elite need to change its attitude. Rather than dividing the society by rejecting change that might hurt rich inner-city dwellers a little but provide substantial benefits for the rest of the city, these sorts of changes need to be considered fairly and discussed reasonably.
Residents in inner-city Melbourne (and inner-city Sydney and Brisbane too) have lower unemployment, higher pay and much better cultural amenity than people in the suburbs. Fairness requires some change and better support for the poorer parts of the city, not the richer parts.
Governments need to respond too by reducing the subsidies to the inner city. Even some clearer presentation of the state budgets to separate out the impact of spending on a geographical basis would help. Let us start spreading the benefits more widely.
Rodney Maddock is vice chancellor's fellow at Victoria University and Adjunct Professor of Economics, Monash University and author for The Conversation. He can be contacted <a href="https://theconversation.com/profiles/rodney-maddock-107543" target="_blank">here</a>.
</body></html>

jchancellor-FAypfDUnLy

Inner-city bias: the suburbs need a fair go

<html><body>
The Fox trucking family have secured Penola, one of Mount Macedon's historic 19th century garden estates.
Linfox executive chairman Peter Fox paid $2.85 million for the four hectare garden estate which William Guilfoyle, the creator of the Melbourne Botanic Gardens, helped establish for family.
The residence comes with <a href="https://www.realestate.com.au/property-house-vic-mount+macedon-116787287" target="_blank">20 rooms and a tower</a>. 
There's eight bedrooms, two grand living rooms, a rare original billiards room along with the requisite eight open fireplaces. The rooms were prefabricated in India using teak.
The terraced gardens have stone walls, ponds and a waterfall. There's also have a lawn tennis court where Norman Brookes played prior to becoming the first Australian to win Wimbledon in 1907. It was the retreat of his uncle, Herbert Brookes.
This article was first published in the Weekend Australian Mansion Australia property section.
 
</body></html>

Peter Fox buys Mount Macedon's Penola estate

<html><body>
New figures from the REIV show the median Melbourne house price increased 3.6 percent to a high of $725,000 in the three months to June 30 - the largest price growth since September 2015.
Double-digit growth was recorded in Camberwell, Prahran and Richmond. Torah, Wyndham Vale and Roxburgh Park also recorded increases with growth experienced in more affordable suburbs such as Hillside, St Albans, Sunshine West and Sunbury.  
Geoff White, chief executive officer of the REIV, said recent national data from the Real Estate Institute of Australia shows that most states, apart from Melbourne and Adelaide, have experienced moderating home prices in the opening months of 2016. 
“Just over a year ago we were seeing quarterly price growth just above five percent,” he said.
“While growth is now below four percent, it is still solid, given market conditions. There have been fewer property listings this quarter, down by around 300 weekly across Melbourne in comparison to last year.
“While fewer sellers are putting their homes on the market, prices are still extremely solid.
“The message to vendors is that the market is still bubbling along nicely – and that, given the sales results and prices, those looking to list their homes should do so prior to spring. ’Now’ is a great time to sell."
MELBOURNE MEDIAN HOUSE PRICES – JUNE QUARTER
 
<table style="width: 404px;" border="0" cellspacing="0" cellpadding="0"><tbody>
<tr>
<td valign="bottom" nowrap width="26">
 
</td>
<td colspan="2" width="149">
Top Growth Suburb
</td>
<td width="82">
Jun-16 Median
</td>
<td colspan="2" width="83">
Mar-16 Median
</td>
<td colspan="2" width="64">
Quarterly Change
</td>
</tr>
<tr>
<td valign="bottom" nowrap width="26">
1
</td>
<td colspan="2" valign="bottom" nowrap width="149">
    BRIGHTON
</td>
<td nowrap width="82">
$2,715,000
</td>
<td colspan="2" nowrap width="83">
$2,030,000
</td>
<td colspan="2" nowrap width="64">
33.7%
</td>
</tr>
<tr>
<td valign="bottom" nowrap width="26">
2
</td>
<td colspan="2" valign="bottom" nowrap width="149">
    MOONEE PONDS
</td>
<td nowrap width="82">
$1,265,000
</td>
<td colspan="2" nowrap width="83">
$1,035,000
</td>
<td colspan="2" nowrap width="64">
22.2%
</td>
</tr>
<tr>
<td valign="bottom" nowrap width="26">
3
</td>
<td colspan="2" valign="bottom" nowrap width="149">
    HILLSIDE
</td>
<td nowrap width="82">
$600,000
</td>
<td colspan="2" nowrap width="83">
$505,000
</td>
<td colspan="2" nowrap width="64">
18.8%
</td>
</tr>
<tr>
<td valign="bottom" nowrap width="26">
4
</td>
<td colspan="2" valign="bottom" nowrap width="149">
    NORTHCOTE
</td>
<td nowrap width="82">
$1,170,000
</td>
<td colspan="2" nowrap width="83">
$990,000
</td>
<td colspan="2" nowrap width="64">
18.2%
</td>
</tr>
<tr>
<td valign="bottom" nowrap width="26">
5
</td>
<td colspan="2" valign="bottom" nowrap width="149">
    TOORAK
</td>
<td nowrap width="82">
$4,500,000
</td>
<td colspan="2" nowrap width="83">
$3,900,000
</td>
<td colspan="2" nowrap width="64">
15.4%
</td>
</tr>
<tr>
<td valign="bottom" nowrap width="26">
6
</td>
<td colspan="2" valign="bottom" nowrap width="149">
    ST ALBANS
</td>
<td nowrap width="82">
$529,250
</td>
<td colspan="2" nowrap width="83">
$462,000
</td>
<td colspan="2" nowrap width="64">
14.6%
</td>
</tr>
<tr>
<td valign="bottom" nowrap width="26">
7
</td>
<td colspan="2" valign="bottom" nowrap width="149">
    WILLIAMSTOWN
</td>
<td nowrap width="82">
$1,155,000
</td>
<td colspan="2" nowrap width="83">
$1,010,500
</td>
<td colspan="2" nowrap width="64">
14.3%
</td>
</tr>
<tr>
<td valign="bottom" nowrap width="26">
8
</td>
<td colspan="2" valign="bottom" nowrap width="149">
    RICHMOND
</td>
<td nowrap width="82">
$1,222,500
</td>
<td colspan="2" nowrap width="83">
$1,072,000
</td>
<td colspan="2" nowrap width="64">
14.0%
</td>
</tr>
<tr>
<td valign="bottom" nowrap width="26">
9
</td>
<td colspan="2" valign="bottom" nowrap width="149">
    CAMBERWELL
</td>
<td nowrap width="82">
$2,146,250
</td>
<td colspan="2" nowrap width="83">
$1,890,000
</td>
<td colspan="2" nowrap width="64">
13.6%
</td>
</tr>
<tr>
<td valign="bottom" nowrap width="26">
10
</td>
<td colspan="2" valign="bottom" nowrap width="149">
    PRAHRAN
</td>
<td nowrap width="82">
$1,370,000
</td>
<td colspan="2" nowrap width="83">
$1,210,500
</td>
<td colspan="2" nowrap width="64">
13.2%
</td>
</tr>
<tr>
<td valign="bottom" nowrap width="26">
11
</td>
<td colspan="2" valign="bottom" nowrap width="149">
    SUNSHINE WEST
</td>
<td nowrap width="82">
$520,000
</td>
<td colspan="2" nowrap width="83">
$462,500
</td>
<td colspan="2" nowrap width="64">
12.4%
</td>
</tr>
<tr>
<td valign="bottom" nowrap width="26">
12
</td>
<td colspan="2" valign="bottom" nowrap width="149">
    SUNBURY
</td>
<td nowrap width="82">
$412,500
</td>
<td colspan="2" nowrap width="83">
$371,250
</td>
<td colspan="2" nowrap width="64">
11.1%
</td>
</tr>
<tr>
<td valign="bottom" nowrap width="26">
13
</td>
<td colspan="2" valign="bottom" nowrap width="149">
    AVONDALE HEIGHTS
</td>
<td nowrap width="82">
$792,500
</td>
<td colspan="2" nowrap width="83">
$720,000
</td>
<td colspan="2" nowrap width="64">
10.1%
</td>
</tr>
<tr>
<td valign="bottom" nowrap width="26">
14
</td>
<td colspan="2" valign="bottom" nowrap width="149">
    ROXBURGH PARK
</td>
<td nowrap width="82">
$425,000
</td>
<td colspan="2" nowrap width="83">
$387,500
</td>
<td colspan="2" nowrap width="64">
9.7%
</td>
</tr>
<tr>
<td valign="bottom" nowrap width="26">
15
</td>
<td colspan="2" valign="bottom" nowrap width="149">
    SURREY HILLS
</td>
<td nowrap width="82">
$1,835,000
</td>
<td colspan="2" nowrap width="83">
$1,676,000
</td>
<td colspan="2" nowrap width="64">
9.5%
</td>
</tr>
<tr>
<td valign="bottom" nowrap width="26">
16
</td>
<td colspan="2" valign="bottom" nowrap width="149">
    WYNDHAM VALE
</td>
<td nowrap width="82">
$385,000
</td>
<td colspan="2" nowrap width="83">
$352,500
</td>
<td colspan="2" nowrap width="64">
9.2%
</td>
</tr>
<tr>
<td valign="bottom" nowrap width="26">
17
</td>
<td colspan="2" valign="bottom" nowrap width="149">
    SOUTH MORANG
</td>
<td nowrap width="82">
$503,000
</td>
<td colspan="2" nowrap width="83">
$461,000
</td>
<td colspan="2" nowrap width="64">
9.1%
</td>
</tr>
<tr>
<td valign="bottom" nowrap width="26">
18
</td>
<td colspan="2" valign="bottom" nowrap width="149">
    COBURG
</td>
<td nowrap width="82">
$870,000
</td>
<td colspan="2" nowrap width="83">
$800,000
</td>
<td colspan="2" nowrap width="64">
8.7%
</td>
</tr>
<tr>
<td valign="bottom" nowrap width="26">
19
</td>
<td colspan="2" valign="bottom" nowrap width="149">
   CRANBOURNE NORTH
</td>
<td nowrap width="82">
$455,000
</td>
<td colspan="2" nowrap width="83">
$420,130
</td>
<td colspan="2" nowrap width="64">
8.3%
</td>
</tr>
<tr>
<td valign="bottom" nowrap width="26">
20
</td>
<td colspan="2" valign="bottom" nowrap width="149">
    GREENVALE
</td>
<td nowrap width="82">
$650,000
</td>
<td colspan="2" nowrap width="83">
$600,000
</td>
<td colspan="2" nowrap width="64">
8.3%
</td>
</tr>
<tr>
<td valign="bottom" nowrap width="26">
 
</td>
<td colspan="2" valign="bottom" nowrap width="149">
 
</td>
<td nowrap width="82">
 
</td>
<td colspan="2" nowrap width="83">
 
</td>
<td colspan="2" nowrap width="64">
 
</td>
</tr>
<tr>
<td colspan="2" valign="bottom" nowrap width="105">
 
</td>
<td colspan="3" valign="bottom" nowrap width="172">
 
</td>
<td colspan="2" nowrap width="109">
 
</td>
<td width="18">
 
</td>
</tr>
</tbody></table>
</body></html>

mick.cee-iDmgDDAmu8

Melbourne property market reaches $725,000 median price: REIV

<html><body>
It's a long shot, but the Kerrigan's home from the 1997 film, The Castle, could be saved from demolition by its “social significance”. 
The Kerrigans’ Castle, which the Herald Sun described as arguably Australian film’s most recognisable home, went <a href="https://www.domain.com.au/3-dagonet-street-strathmore-vic-3041-10654818" target="_blank">on the market recently for a new tenant</a>.
But it then emerged the Strathmore home, in Melbourne’s northern suburbs, faces the wrecking ball.
The owner advised she is considering demolishing the famed house towards the end of next year, citing ongoing maintenance issues.
“I know it’s sad, but the home is going downhill and it’s just taking too much to maintain,” owner Vicki Cosentino told News Corp Australia. She is prepared to see the house relocated away from its airport neighbourhood.
The classic Australian film of 1997 celebrates the triumph of the Kerrigans over the impending compulsory acquisition.
“This is not a house, it’s a home," was how the status was put in the High Court proceedings.
The house at 3 Dagonet Street attracts visitors knocking on the door and asking to speak to Darryl.
Set next to an airport, it was up for rental at<a href="https://www.domain.com.au/3-dagonet-street-strathmore-vic-3041-10654818" target="_blank"> $380 per week</a>.
Moonee Valley City Council confirmed a planning application for the construction of two dwellings was lodged in late May.
But National Trust (Victoria) senior community advocate Felicity Watson said there was “certainly an argument” that the house had “social significance” because of its role in The Castle.
She said “social significance for pop culture associations” had previously helped Victorian properties earn heritage protection, namely Hanging Rock and the set of 1986 film Dogs in Space, 18 Berry St in Richmond — but these places also had historical or architectural value.
</body></html>

j.ballantyne1990-6AQqhLzZaK

Heritage protection mooted for airport house from The Castle film facing demolition

<html><body>
<div class="page" title="Page 1">
<div class="section">
<div class="layoutArea">
<div class="column">
A joint project by Brookfield and Cbus Property, Classic East Melbourne, is set to restore the historic Clarendon Street Mosspennoch House into six prestige apartments.
Classic East Melbourne, located beside Pullman on the Park, is a collection of three unique residential buildings featuring 67 large-format apartment residences in total.
It will also add a new seven level building, 22 Clarendon, next to Mosspennoch, complete with 11 half-floor apartments and a full-floor penthouse with wrap-around balcony with 360 degree views. 
A new fourteen level building, Parade, on Wellington Parade, featuring 49 apartments, including two penthouses.
The development is Designed by Bates Smart, with heritage architect Lovell Chen overseeing the restoration of Mosspennoch.
Bates Smart Studio Director Steve Jones said they wanted to create a collection of residences that blends the requirements of contemporary lifestyle with the grand style of living that is synonymous with East Melbourne.
“As a landmark site it required a sophisticated architectural response that is as timeless as the suburb of East Melbourne itself, while incorporating stunning views to the surrounding Fitzroy Gardens and Yarra Park," he said.
"Outdoor living is integrated into the design with generous private resident gardens supplemented by individual terraces and balconies to each of the apartments."
Carl Schibrowski, head of development, Brookfield Property Partners in Australia, said the collection of residences were a unique proposition, not only for their location in tightly held East Melbourne, but also for their triple offering and sweeping views of the CBD, iconic MCG and surrounding suburbs. 
“This is an iconic parcel that commanded a special approach out of respect of the site’s heritage and location,” he said. 
“It is one of the most unique developments we have created and a project we are confident stands apart from anything else in the market. From the start we were very fixed on delivering a boutique offering in this suburb, which is known for its privacy and exclusivity. 
“We will also be investing significant capital into repositioning the Pullman on the Park arrival experience as well as food and beverage offering, delivering a completed precinct solution to this important East Melbourne location.” 
Cbus Property CEO, Adrian Pozzo said the partners were confident the market was strong and that the generously sized apartments would appeal to the ever-growing empty nester and upgrader markets. 
“Classic East Melbourne adds three luxury penthouses to the market and we know there is an appetite for these statement homes," he said.
"In 2008, 150 Clarendon set the benchmark with its $18.2 million penthouse sale, showing the market values these special properties.”
</div>
</div>
</div>
</div>
<div class="page" title="Page 2">
<div class="section">
<div class="layoutArea">
<div class="column">
Mosspennoch and 22 Clarendon will be linked via a large private garden.
Parade will feature a large resident’s garden on level four. 
The project marks the first joint venture for Brookfield and Cbus Property.
For more information, <a href="https://eastmelb.com.au" target="_blank">click here</a>.
 
</div>
</div>
</div>
</div>
</body></html>

jonathanchancellor-7SQnKwU6yx

Cbus Property and Brookfield launch Classic East Melbourne project 

<html><body>
Melbourne's inner-eastern fringe suburb of Cremorne is seeing brisk tenant activity, with six new leases in the last eight weeks and more in the pipeline, according to real estate agency Teska Carson.
The tiny suburb is suddenly the flavour of the month, said Teska Carson's Fergus Evans.
"Cremorne has for a long time lived in the shadow of its more famous and more popular neighbour Richmond, but the number of businesses who are now making Cremorne home are challenging that dominance," said Evans.
"We have leased six properties recently and have several more tenants looking at what’s available." 
Evans and his colleagues have sold, leased and marketed more than 25 properties in the suburb over the last 18 months, 
New deals include those at:
<ul>
<li>36 Stephenson Street, Cremorne – three year lease to  Scene Change Pty Ltd; </li>
<li>40 Stephenson Street – four year lease to Merlin Migration Pty Ltd;</li>
<li>25 Gwynne Street – two year lease to Care Monkey Pty Ltd;</li>
<li>29 Gwynne Street – three year lease to Suppertime Australia;</li>
<li>14 Gwynne Street -   lease (term undisclosed) to  The Big Group;</li>
<li>44 Gwynne Street -   leased prior to construction (conjunctional with JLL)</li>
</ul>
Some tenants were now looking to avoid the queue by securing space prior to or during construction, including a new lease at 44 Gwynne Street and significant interest at a six-level office building under construction at 13 Cremorne Street, Evans said.
 
The former industrial suburb, famous for its Rosella factory which was established on Balmain Street in 1905, is bordered by Punt Road, Church Street, Swan Street and the Yarra River, and at 0.7 square kilometres, is one of the smallest suburbs on Melbourne’s fringes, but it is now punching above its weight.
"Cremorne is such a great location and that has been the key to this trend we are seeing now. It has access to everything that neighbour Richmond offers, including trains and trams, shops, restaurants, cafes and fashion on Bridge Road, Swan and Chapel streets," he said.
Cremorne was identified in the Victoria government’s Plan Melbourne document as one of a number of new urban renewal precincts to help accommodate a surging Melbourne population which is forecast to exceed Sydney’s population by 2050.
According to the City of Yarra and ABS data, Richmond’s population has grown from 22,789 in 1991 to 31,262 in 2014, a rise of 37 percent, and is expected to rise another 38 percent to 43,105 by 2036. The lion’s share of that growth is expected to occur in Cremorne and Burnley. 
</body></html>

Melbourne's Cremorne the new black as tenants move in  

<html><body>
Mum-and-dad private investors are competing with offshore buyers for strata office and retail shops in the Melbourne CBD, helped by the low interest rate environment.
Colliers International’s senior executive Oliver Hay said the current appetite for strata investment assets in the CBD, both offices and small retail investments, would continue to grow amid record low interest rates and strong competition.
“Of the last seven strata deals facilitated by Colliers in the last two weeks, half of these assets have been sold to local purchasers and half to those from offshore or with offshore interests,” Hay said. 
“This insatiable appetite for strata assets is driving a spate of sales and new listings as local and offshore buyers compete.”
Recent deals have included:
<ul>
<li>Level 2, 24 Albert Street: A 195sqm office suite purchased by a private local investor for $760,000.</li>
<li>Level 6, 24 Albert Street: A 225sqm office suite purchased by a local owner-occupier for $825,000.</li>
<li>Suite 4.04, 838 Collins Street: A 78sqm office suite purchased by a private interstate investor for $560,000.</li>
<li>Mezzanine level, 58 Franklin Street: A 347sqm office suite purchased by an offshore investor for $1,325,000. </li>
<li>Shop 2, 2 Queen Street: 70sqm of retail space purchased within two days on market by an offshore investor for $1.5million.</li>
<li>Shop 2, 377 Lonsdale Street: A 130sqm retail suite purchased by a local investor for $1.82million.</li>
<li>Level 8, 21 Victoria Street: A 320sqm office suite purchased by private local investor for $1.75million.</li>
</ul>
Colliers International’s David Sia said the current activity was being fuelled by a perfect storm of market conditions including strong international demand, record low interest rates, a weak AUD and volatility in the equities market. 
“We will continue to see yield compression throughout 2016 given the pent-up demand for good office and strata retail in quality CBD locations,” said Sia.
Interstate buyers are also increasingly active in the strata market, with three properties in one week recently sold to this buyer group by Colliers International – Shop 2 at 2 Queen Street and two office suites at 838 Collins Street.
“Off the back of the sale at 2 Queen Street, we will soon be launching another prime CBD strata retail asset at 118 Franklin Street with price expectations of in excess of $2 million.”
</body></html>

Local vs offshore in Melbourne CBD as buyers fight for strata office, retail: Colliers

<html><body>
Malaysian group Tune Hotels has bought an infill site in Melbourne’s CBD from AMP for $18.5 million.
The 1,741 sqm property stretches between Flinders Street and Flinders Lane.
CBRE’s Josh Rutman, Mark Wizel and Paul Tzamalis negotiated the sale. 
Tune Hotels CEO Mark Lankester said the group was thrilled to make its foray into the Melbourne market. 
“Melbourne is a city that we are very familiar with and the opportunity for the hotel accommodation market, coupled with strong overall visitor growth, ticks all the boxes for us,” he said.
</body></html>

Malaysia's Tune Hotels buys Melbourne site for $18.5 million

<html><body>
Melbourne’s full floor CBD office vacancy has fallen to its lowest level since March 2012, leaving tenants seeking contiguous floor space with only 19 prime floor options to choose from, according to the latest Savills research.
Research author, Savills Victorian research manager, Monica Mondkar, said of 1,527 prime full floors in the CBD only 175 floors were currently available, the lowest level since the 163 recorded in March 2012.  
"The fact that 175 prime floors are available can be misleading in terms of options with only 19 contiguous floors available, while single floor options are also limited by just where those floors are – in what building, on what street, in which precinct, and at what end of town,’’ Mondkar said.
The full floor research shows each Premium and A grade building in the city on a floor-by-floor basis highlighting which floors are available for lease, now and in the near future, in each building including those under construction and refurbishment.
Mondkar said available full floor space was at 270,486 square metres in May, down 20 per cent from the end of December when 220 full floors were available for lease.
 <img src="/images/2016/07/01/Screen%20Shot%202016-07-03%20at%2011.39.26%20PM.png" alt="">
Savills’ state director Victoria - Office Leasing, Mark Rasmussen, said the fall in the number of full floor options was a very good indicator of where the office market was heading.
"Clearly the market is tightening. The key indicator -- net absorption -- has been growing steadily over the last 12 months and that trend is likely to continue on the back of improving economic conditions, especially in Victoria and New South Wales," he said. 
"What has been a concern for landlords is now becoming an issue for tenants as the downward trend limits the number of full floor options available and intensifies competition for available space.’’
He expects the overall office vacancy rate to mirror the fall in the number of full floors available when the PCA reports next month providing further evidence of a tightening market.
"We are going to see up to 80,000 square metres of backfill space hit the market later in the year and early next year and this may slow rental growth, however, we expect the strong tenant demand to continue.
"The era of 30 per cent incentives is finished and of course that means upward pressure on rents. Tenants considering moving would be well advised to do it sooner than later.’’
He said Savills had leased over 25,000 square metres of full floor prime office space in 2016 including Woods Bagot at 555 Bourke Street (2,100sqm), and Yooralla at 595 Collins Street (2,100sqm) and that the pipeline of transactions for the balance of the year remained strong.
 
 
</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