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 

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The arrival of the first piling rig officially marks the commencement of construction at SIERA’s new beachside apartment development, Exhale, in Northcliffe.

<a href="https://www.apartments.com.au/new-apartments/exhale-surfers-paradise-8-enderley-avenue-surfers-paradise-qld-4217">Exhale</a>, a glass-encased tower featuring 54 large-scale apartments at 8 Enderley Avenue, is SIERA’s third Gold Coast development. It follows the recently completed PIPIS Bilinga beachfront project, which achieved suburb-record prices, and the soon-to-be-completed Chevron Island development, Tapestry.

[smartcode_project:default project_id=112661 project_image_fid=359603]

<a href="https://www.apartments.com.au/developers/siera">SIERA</a> Founder and Managing Director Brent Thompson said the arrival of the piling rig represented a significant milestone for the development, which is scheduled for completion in late 2028.

Over the next month, around 260 piles are expected to be installed as work progresses on the basement structure. The building is anticipated to rise above ground level early next year, before unveiling its sculptural glass curtain wall, developed in collaboration with specialist façade engineers.

“The façade was designed to maximise panoramic coastal views while creating a distinctive architectural identity,” Thompson said.

[smartcode_project:default project_id=112661 project_image_fid=355935]

Designed by BDA Architecture, Exhale will comprise just 54 two- and three-bedroom residences across 26 levels, a level of low-density living rarely delivered in this beachside pocket between Surfers Paradise and Broadbeach.

The project has been conceived as a resident-only building, with no short-stay accommodation permitted. SIERA says the model is intended to appeal to long-term owner-occupiers rather than transient holiday demand.

[smartcode_project:default project_id=112661 project_image_fid=361052]

Residences have been designed with large-format layouts and expansive glazing, with most apartments featuring more than 30 metres of glass frontage to maximise natural light and ocean views.

The amenity offering spans two levels and centres on wellness and lifestyle, including a heated magnesium pool, sauna, yoga and Pilates studio, gymnasium, private dining facilities, cinema lounge, and dedicated surfcraft storage.

[smartcode_project:default project_id=112661 project_image_fid=359607]

More than half of the apartments have already sold. SIERA has also opened a sales gallery for Exhale at its Chevron Island commercial premises, near its Tapestry tower and the site of its second Chevron Island apartment development, which is slated to launch in early 2027.
</section>
</section>

[smartcode_project_cta:default project_id=112661]

SIERA kicks off construction at Northcliffe tower Exhale

Melbourne

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Melbourne had the nation's cheapest result when a South Yarra flat fetched $260,800 at weekend auction.
The one bedroom <a href="https://www.realestate.com.au/property-apartment-vic-south+yarra-122585466" target="_blank">Punt Road offering</a> last traded at $32,500 in 1983.
Williams Batters had offered a $240,000 to $260,000 price guidance on the apartment that had been rented in 2013 at $280 a week.
 The median price for a unit in South Yarra is $573,185, according to CoreLogic RP Data.
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jchancellor-FAypfDUnLy

Melbourne's cheapest sale in South Yarra

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Philippe Mouchel, rated as one of the world's finest French Chefs, is opening another Melbourne restaurant, at the Paris-end of Collins Street.
The “Philippe” restaurant follows other top names, mainly luxury fashion retailers, flocking to Melbourne's Paris End, Collins Street, Russell Street and Flinders Lane.  
The restaurateur is moving into a 400 square metre basement restaurant at 115 Collins Street. He has signed a three-year lease and the net annual rental equates to about $380 per sqm.   
Knight Frank's Gary Loo brokered the deal.
Mouchel's career has been spent in the kitchens of Michelin star restaurants such as Hotel Frantel Bordeaux and Restaurant Roger Vergé in Mougins. He moved to Tokyo to work in a new restaurant Paul Bocuse was opening and later relocated to Australia.  
In 2005, Mouchel opened French restaurant, The Brasserie by Philippe Mouchel, at Crown. He was bestowed with The Age Good Food Guide's Chef's Hat award each year of its operation. Last year, he opened Deja Vue, a concept restaurant on St Kilda Rd in the former Café Vue space.   
“The growth of residential dwellings which has grown to 68,100 across the City of Melbourne has fed the need for food and beverage space within the city," said Loo.
“Food and beverage floor space now totals 646,600 square metres, having increased by 21,700 sqm since 2013.” 
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Top French chef Philippe Mouchel to open restaurant in Melbourne's Collins St

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Melbourne's city fringe is spoilt for choice when it comes to classic Australian heritage style with a wide range of Victorian terraces, Edwardian houses, art deco units and bank houses as well as heritage listed warehouses and factories, according to Herron Todd White.
Herron Todd White's residential report for the heritage market noted due to the rising amount of mid to highrise apartments being built in Melbourne, it is no surprise that developers have also targeted heritage sites in the north which offer charming facades, accompanied by new and high quality interiors, with a recent example being The Stables at 185 Weston Street, Brunswick East (pic above). 
"The development of 411 apartments and townhouses across six buildings constructed on a vacant 1.2 hectare site that was the previous home of Northern Bakeries and later Tip Top Bakeries retains a portion of the original façade. The development is the winner of the 2015 National UDIA award for Excellence in Urban Renewal, the 2014 Victorian UDIA Award for Excellence in Urban Renewal and the winner of the 2014 Australian Property Institute Heritage Property Award," the report said.
"In recent years, we have encountered a large number of renovations or extensions involving Victorian and Edwardian townhouses, with the front façade and front rooms remaining intact, but improved via paint and some renovation work, but the back half being demolished and rebuilt, occasionally adding a second level to the rear of the property.
"$1,915,000 can get you a 4-bedroom, 2-bathroom, historic bank house within the Garden City Reserve in Port Melbourne. $800,000 in Collingwood can get you a heritage protected 2-bedroom, 1-bathroom, 2-storey townhouse.
"Good gains can however be made on the sale of renovated heritage styled properties, especially if the renovation is executed well. As previously mentioned these styles remain in high demand and rarely struggle to find a new owner."
The report said renovation and extensions of period homes with heritage overlays have become increasingly popular within the inner eastern suburbs, with one area in particular seeing a significant amount of period homes with heritage overlays is the Gascoigne Estate located in Malvern East. 
"Bound by Tooronga, Burke, Wattletree and Manning Roads, this estate was developed between 1880 and 1910 and is made up of mainly renovated and extended Federation, Victorian and Edwardian homes with many dwellings still incorporating the quintessential red brick construction with timber fretwork typically seen in this era," the report said.
"Current home owners and potential purchasers are drawn to the wide, tree lined streets with houses that incorporate period features with modern everyday living. The area is well serviced by parks including Central Park, shopping, schools and public transport making it appealing to a wide variety of residents. The entire estate is covered under heritage overlay HO133 which serves to protect the regional significance of the Federation and inter-war suburban development. 
"Any works performed on dwellings within the estate are required to retain the original façade in order to preserve the historical significance of the estate. Many of the dwellings within the estate have been either recently renovated or extended, with only a handful of dwellings remaining in their original condition. Buyers are willing to pay a premium to secure these properties to enable them to undertake their own renovations to suit their personal style."
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Heritage overlays, wide streets a hallmark of Melbourne fringe heritage homes: HTW

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Two development sites in Melbourne's Box Hill have been put up for sale through an expressions of interest campaign by Savills.
The adjoining landholdings at 826 and 830 Whitehorse Road are being offered individually or can be purchased together. The EOIs close on June 23.
Each property comprises a multi-level office building. 
The land area for 826 Whitehorse Road is 1,078 sqm, while 830 sits on 1,572 sqm.
Zoned Commercial 1, each property has an office building with car parking, and short-term holding income. Each office building suits ongoing occupancy and/or owner-occupation.
The site is within the 'Prospect Street Activity Precinct' and the 'Major Development Built Form Precinct' of the Box Hill Metropolitan Activity Centre, and planning advice from Urbis indicates an allowable development height of 30+ levels subject to council approval.
The listing agents are Clinton Baxtor, Nick Peden and Jesse Radisich of Savills.
 
 
 
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jonathanchancellor-7SQnKwU6yx

Office properties in Melbourne's Box Hill up for sale

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Co-working group Hub Australia has committed to a 3,900 square metre co-working facility in Melbourne in a deal brokered by Savills.
The group has committed to the facility over 10 years at the historic 696 Bourke Street, Mail Exchange building, across two levels interlinked by a staircase.
Savills' Phillip Cullity, who brokered the deal, said the building’s heritage, enormous ceiling heights and its refurbishment were the drawcards to securing the lease. Financial details of the lease were not disclosed.
The Beaux Arts inspired building, which originally housed Melbourne’s GPO, was also the first home of Melbourne’s famous surveyor, responsible for the CBD grid, John Hoddle.
"It’s totally unique on every level and when you take into account the superb location opposite Southern Cross station it’s going to be very attractive to companies looking to grow their business in Melbourne’s CBD and from that point of view it’s quite an astute leasing decision,’’ Cullity said.
Hub Australia is Australia’s largest co-working community and operates across Melbourne, Sydney and Adelaide. Hub is a subsidiary of Third Spaces Group, founded by Brad Krauskopf.
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Hub Australia takes 3,900 sqm lease at Melbourne's Mail Exchange

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A vacant site with development potential at Footscray in Melbourne’s inner western suburbs is up for auction on June 23 with price expectations of more than $1 million. 
The 116-120 Buckley Street property comprises a 521 square metre allotment, with 12 metres street frontage.
The property is zoned Activity Centre Zone (ACZ1), which encourages a mix of uses including intensive development focussing on business, apartments, shopping, leisure, transport and community facilities. 
The site is being marketed by Teska Carson's George Takis.
"Footscray is one of the most rapidly growing suburbs in Metropolitan Melbourne, with the location currently subject to unprecedented levels of residential and commercial development. 
Located five kilometres from Melbourne’s CBD, Footscray's population is expected to double over the next 20 years, driving continued commercial and residential development.
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Site in Melbourne's Footscray up for auction with $1 million plus expectations

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Melbourne's Library at The Dock took out the top award at the annual Property Council of Australia Victorian awards. 
A finalist in three categories – innovation, best public building and best new sustainable development, the library got the “Development of the Year” award. 
Delivered through a tri-partnership between the City of Melbourne, Places Victoria and Lendlease and designed by architects Clare Design with Hayball as architect of record, Library at The Dock will now be in the running for the national award, due to be announced in Sydney next month.  
Chair of the City of Melbourne’s Environment Portfolio, Cr Arron Wood said along with its green design the building offers an extensive traditional library collection, music and sound recording facilities, digital gaming, and a performance space that holds 120 people. 
“The library pays homage to Docklands’ rich maritime heritage with reclaimed hardwood from the waterfront used throughout the building. It is located in a spectacular setting on the waterfront in Victoria Harbour and is anchored by a new park and children’s play space,” Cr Wood said.
Lendlease’s managing director of Urban Regeneration, Jonathan Emery said he was thrilled that the library continues to be recognised.  
City-shaping projects like the library are crucial in order for us to create the best places for people to live, work, visit and play across our large scale urban regeneration projects.”
Following its opening in mid-2014, the library has grown in popularity, with more than 123,000 visitors in its first year and over 15,000 attending library events.
The library is only the second building in Australia to be constructed from Cross Laminated Timber (CLT), which is carbon neutral, and the first public building to be constructed from the material. It is also the first public building in Australia to have achieved a six-star green star as-built rating from the Green Building Council of Australia’s public buildings rating tool.   
The national Property Council Awards event will be held in Sydney on June 3. 
 
 
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Melbourne's Library at The Dock wins at Property Council Victorian awards 

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With rental yield being a key metric for a buyer, seller, investor or renter, researchers from the University of Melbourne have created a system to model and predict house values and rental rates at the individual property level.
The comparison of these two values offers insight into rental yields in the market.
Dr Gideon Aschwanden and Dr Andy Krause from the Melbourne School of Design in the Faculty of Architecture, Building and Planning said rental yields are a critical driver of rental and housing costs and often a key indicator of property bubbles. 
“In this volatile Melbourne property market, buyers want to ensure the safety of their investment. Our recent analysis of property sales and rental returns will better inform investors with location information, helping them to invest their money more securely,” said Dr Aschwanden.
By understanding changes in yields, measures can be taken to help prevent or dampen a sudden collapse in the market, according to the researchers.
Buyers' decisions are driven by costs. With first time homeowners renting out their property to payoff the mortgage to the point where they can afford it they need to estimate their rental income and property yield. 
Using a unique data set of home sales and rentals from the Australian Property Monitors, they investigated the spatial and temporal changes in residential rental yields across the Melbourne metropolitan region from June 2010 to June 2015.
Using data supplied by Domain, they matched properties that have been both sold and rented during the study period.  
After adjusting for market changes, these two observations were compared, to develop a property-specific estimate of rental yield. 
“Starting with the entire metropolitan region, we then calculated yields at the level of local government area (LGA), statistical local area level 1 (SLA1), post code, suburb, and at a property-specific level,” said Dr Aschwanden. 
“Looking at the entire metropolitan region, our rental yield calculations allowed us a direct look at variations by neighborhood, street and even specific building, in the case of apartments,” he said.
The analysis showed that apartments offer higher yields than detached houses. This difference has widened over time, with yields from houses falling off &gt;0.5 percent from June 2013 to June 2015 while yields on apartments have held somewhat steady since 2013.  
“Looking at influencing factors location shows the highest impact. Within the metropolitan area of Melbourne a 6 percent spread of rental yields ranging between 1.5 percent and 7.5 percent is visible. This is much higher than the decline of 0.5 percent observed over the last 3 years or the impact of distance to train stations of 0.5 percent.”
Evidence showing variation within postcodes would help investors reach a decision on whether to purchase a property, they said. Changes within and between localities may also have a big impact on returns than changes over time.
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Falling Melbourne rental yields suggest caution, reveals research model

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Jean Nouvel, the French architect behind Sydney's award winnng One Central Park at Chippendale development, is set to undertake a Melbourne tower.
Its a $700 million, 70-level mixed use tower in the CBD's northern edge for the developer Sterling Global.
Plans are now lodged for the tower with 488 apartments and a 196-room luxury hotel on the 338 La Trobe Street site purchased from Investa Office Fund last year for $70 million. 
The planned building replaces the Australian Federal Police office. 
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Each of the four sides of the building will have a different coloured facade.
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Architect Jean Nouvel set to undertake mixed use Melbourne tower

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New Sky Group's 88 Melbourne tower, the $100 million 55 storey development, is being marketed as offering apartment homes, some 219 residences designed for empty nesters looking to transition from the family home.
The tower, designed by architectural practice Rothelowman in conjunction with KPDO, will be Melbourne’s first apartment building to feature hand-crafted kitchen appliances by Sub-Zero and Wolf. 
Rothelowman principal Chris Hayton said the building would be a timeless and elegant addition to Melbourne’s skyline and architecturally distinct due to its illuminated form. 
“88 Melbourne will have a sophisticated presence in the city and change the way people think of apartment living,” he said. 
“It will be an iconic Melbourne address and a lasting moment in the evolution of local architecture and how we design for changing life-stages.” 
Stage one of 88 Melbourne will release the tower’s first 42 levels followed by a second and final release of the building's remaining 12 levels in the coming months. 
88 Melbourne is the second project of Melbourne developer New Sky Group and primarily features two and three bedroom apartments, with 12 upper levels devoted to three-bedroom residences, sub-penthouses and two full-floor penthouses. 
KPDO director Kerry Phelan said 88 Melbourne translates the features of a luxury hotel into an apartment setting, with a key focus creating zoned living areas to enhance privacy and enjoyment. 
“Interiors have personality and encourage the display of objects collected during a life well travelled, rather than hidden away as many new apartment designs require, ” she said. 
The building also offers five-star resident facilities across a dual-height whole-floor space on level eight. This area is devoted to an indoor lap pool featuring a spa, steam room and sauna. 
A private wine cellar for residents features a tasting area and bar, plus its own private outdoor terrace.
The 88 Melbourne display suite can be seen at 88 Queensbridge Street, Southbank.
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