Holiday home buyers who have long gravitated to Queenstown’s alpine setting are increasingly looking for low-maintenance apartments that allow them to lock up and leave, while still generating income when they’re away.

For Wendy, who had spent years visiting the Queenstown and Arrowtown region, <a href="https://www.apartments.com.au/developers/safari-group">Safari Group</a>’s Mountain Oak Apartments provided the opportunity to formalise what had previously been a recurring holiday pattern.

“We always had Queenstown in the back of our minds to buy something there as a holiday home,” she says. “We love the Queenstown and Arrowtown area.”

<img alt="From slopes to markets: Mountain Oak connects residents to the best of Queenstown" data-entity-type="" data-entity-uuid="" src="https://res.cloudinary.com/dz9xllyip/image/fetch/f_auto,c_limit,w_1440,q_auto/https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/field/image/658d4f_48c3ec1ae5df4a2cab7d23c07c7f51b3~mv2.jpg?VersionId=27K8oQ4ExDN8Yu70VHDa9Olq59XU36m3" />

Time spent visiting her sister-in-law, who owns in Arrowtown, along with regular stays at Millbrook Resort, had already shaped a strong personal connection to the region.&nbsp;

Rather than approaching the purchase purely as an investment play, Wendy’s starting point was lifestyle.

“We were more thinking about ourselves and where we could stay, and then the rental aspect was second.”

Mountain Oak Apartments, located within the masterplanned Remarkables Park precinct in Frankton, aligned with that thinking. The ability to secure the apartment with a deposit and settle on completion made the timing work.

“The fact that we could put a deposit down with the balance on completion was a bonus for us,” she explains.

<img alt="Safari Group’s Mountain Oak Apartments brings new investment potential to Queenstown" data-entity-type="" data-entity-uuid="" src="https://res.cloudinary.com/dz9xllyip/image/fetch/f_auto,c_limit,w_1440,q_auto/https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,dpr_2.0,q_auto:good/https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/313_Livingv2_WEB.jpg?VersionId=nV229fM0ZeYpoxOrX372HyGjfwY_LR8c" />

Wendy selected a two-bedroom, two-bathroom penthouse, a configuration that supports both private use and guest flexibility.

“The two-bedroom, two-bathroom configuration appealed from both a rental viewpoint and for the ability to have friends stay while we are there,” she says.

Across the development, two-bedroom apartments range from 64sqm to 78sqm, with two-bedroom plus flexi options from 71sqm to 75sqm, each with an allocated car park. The flexi layouts introduce an additional space suited to work or hobbies, reflecting demand from buyers who split their time between leisure and remote work.

Apartments include underfloor heating in bathrooms, heat pumps to living areas, and joinery positioned to maximise natural light and mountain outlooks. The Remarkables Park precinct is known for its extended winter sunshine hours, water frontage and open views toward The Remarkables.&nbsp;

Units come in light and dark interior colour schemes.

<img alt="Mountain Oak Apartments draws holiday home buyers to Queenstown" data-entity-type="file" data-entity-uuid="fd685a22-3b95-43a1-87cb-48fdd42bb4ba" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/658d4f_f9f89107c2704ebbbe5a6b36da508cb3~mv2.jpg?VersionId=MigFIEm6b.mrANANwxSmwHvC4RdJUuyR" />

While lifestyle was the primary driver, the fundamentals of the Queenstown market added reassurance.&nbsp;

“Proximity to the airport and tourism being the main attraction all year round,” Wendy says, when asked what stood out from an investment perspective.

Mountain Oak sits just eight kilometres from Queenstown’s CBD and around a two-minute drive from Queenstown Airport.&nbsp;

For Wendy, that airport proximity carries practical value.

“The airport proximity is a bonus, we think that being so close will be an attraction for the convenience side.”

Residents are also a short drive from Coronet Peak, Jack’s Point Golf Course, New World Supermarket, Five Mile Shopping Centre, and the dining, medical, gym, cinema and library amenities within the town centre, as well as the seasonal Remarkables Market.

Importantly, the purchase does not lock owners into a single use. Mountain Oak offers the flexibility to opt for short-term visitor accommodation or longer-term residential rental management, with 365-day visitor accommodation consent in place. Owners can utilise Safari Group’s 24/7 on-site management service or appoint their own provider, and do not need to decide on a strategy immediately.

“It was a bonus that we can rent it out as well as use it for ourselves,” she says.

Additional buying options, including furniture packages and storage units available for purchase within the building, further support a lock-and-leave model suited to interstate and overseas owners.

<img alt="Safari Group’s Mountain Oak Apartments brings new investment potential to Queenstown" data-entity-type="" data-entity-uuid="" src="https://res.cloudinary.com/dz9xllyip/image/fetch/f_auto,c_limit,w_1440,q_auto/https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/field/image/Ext_Cam15_Sunny.jpg?VersionId=SJAROUM_1s.Tr5ciMk4EEj5oAt_Vewmv" />

Mountain Oak Apartments comprises 141 residences, ranging from one-bedroom configurations through to larger apartments and penthouses. One-bedroom apartments are currently priced from NZ$639,000, with three-bedroom options from NZ$1,299,000.

With 365-day visitor accommodation consent, the development is structured to respond to Queenstown’s established four-season tourism economy, spanning winter ski traffic and summer hiking, cycling, golf and lake-based activity.

Although Wendy acknowledges the strength of rental demand, her approach remains long term.

“We’re not planning to sell it anytime soon, so we are keen to hang on to it, but the passive income will be a bonus.”

Confidence in the developer also influenced her decision. Before proceeding, Wendy sought feedback within the local building community.

“We asked around and Safari Group had a good reputation,” she says.

Safari Group has delivered more than 2,000 hotel units and residential apartments across over 18 developments nationwide, with more than 25 years’ experience in the sector.

With completion anticipated by mid-2027, Mountain Oak is attracting a cross-section of buyers, from yield-focused investors to lifestyle purchasers seeking a foothold in one of New Zealand’s most tightly held alpine markets.

For Wendy, it represents both a future holiday base and a long-term asset within Queenstown’s year-round tourism economy.

Joel Robinson

How Mountain Oak Apartments draws holiday home buyers to Queenstown

Eduard Litver's Capitel Group is seeking to redevelop Chatswood's Mandarin Centre in the heart of the burgeoning suburb.

Capitel Group, in a joint venture with Metis Group, has filed a State Significant Development Application (SSDA) to demolish the Mandarin Centre and construct a 32-storey tower designed by Skidmore, Owings &amp; Merrill (SOM) with 325 apartments.

The 3,524 sqm site at 61A-65 Albert Avenue will also home extensive retail amenity, both at street-level and across a four-level podium.

<img alt="First look: Metis and Capitel unveil $1.2bn+ plan to redevelop Chatswood’s Mandarin Centre" data-entity-type="file" data-entity-uuid="905976ea-08cd-409f-8a4c-33a3fb8bf351" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/1771923441002.png?VersionId=f_xI2ejpxQvEm4fPqGji01RY9_AWVY6O" />

In its early stage Design Report submitted to the NSW Government's Housing Delivery Authority, SOM describes the ambition for the project as one that “aims to revitalise and reactivate an important corner of the Chatswood CBD.”

The architects note that the existing shopping centre “has a lack of vertical connection between its five levels of retail and a cumbersome pedestrian access from the street to the second-level transit connection,” framing the redevelopment as an opportunity to reconfigure circulation and better integrate with surrounding transport infrastructure.

The design adopts a single tower configuration, shaped through early testing to respond to neighbouring buildings and key public spaces.

Retail activation is concentrated at ground and lower podium levels, with a focus on food and beverage, lifestyle and wellness tenancies. The intent is to create a more permeable ground plane and improve connections between Albert Avenue, Victor Street and the Chatswood transport interchange, located within walking distance of the site.

<img alt="First look: Metis and Capitel unveil $1.2bn+ plan to redevelop Chatswood’s Mandarin Centre" data-entity-type="file" data-entity-uuid="b1e0c8cb-ee9b-41c1-97ac-0455c043b9e7" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/1771923442914.png?VersionId=y.Kbo.9bzLIbOabeygYts8Uf9imI.Dqh" />

The site occupies a prominent position on the southern edge of the Chatswood CBD core, bounded by Albert Avenue and Victor Street. It sits near the rail and metro interchange and within close proximity to Chatswood Chase, Westfield Chatswood, Chatswood Oval and a range of commercial office towers and residential buildings.

Chatswood has been one, and continues to be, of the most popular suburbs for developers in recent years. The most recent tower to launch is Hyecorp's Celine on Archer Street, which followed The Anderson by Changfa and Huirong.

Soon to launch is Coronation's Archer &amp; Albert nearby the new proposal.

Chatswood boom continues with Capitel and Metis’s $1.2 billion Mandarin Centre redevelopment

Apartment development applications continue to tally up in Rose Bay following the NSW Gov's 2025 update to the Low and Mid-Rise Housing Policy.

&nbsp;

Some $200 million worth of developments were filed in the space of four weeks at the back end of last year, with the likes of Fyve, HSN, Luxcon and Fortis all seeking to creating new apartment buildings.

The latest plans are for an amalgamated 3,105 sqm site across Conway Avenue, Fernleigh Avenue, and Carlisle Street. Developer Mathieson Property is planning <a href="https://www.apartments.com.au/new-apartments/dian-2-6-conway-avenue-rose-bay-nsw-2029">Dian</a>, 70 apartments across a new eight-storey building, perched on a ridgeline within walking distance of Rose Bay Town Centre.

The State Significant Development Application (SSDA), includes one-, two-, three- and four-bedroom configurations. Over 15 per cent will be dedicated as affordable, as per the NSW Government's push for affordable housing. The 17 apartments will be managed by a community housing provider for 15 years following completion of the building.

<img alt="First Look: Mathieson Property unveils eight-storey infill housing proposal ‘Dian’ in Rose Bay" data-entity-type="file" data-entity-uuid="f99c21d9-e69d-4a23-ae35-3244cfa0b4ae" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Rose%20Bay%20site_0.png?VersionId=67KSZfecJ3fvn1ewo9xxKrneRT.Nsjwd" />

MHNDU has designed the building around three central cores, with lower-level apartments arranged to maximise corner balconies and cross-ventilation. Upper levels are configured with dual north–south aspects to capture harbour views and solar access.

Private open space is a key feature of the scheme, with generous balconies and terraces throughout. Five ground-floor apartments would include private pools, while one upper-level residence will feature a rooftop terrace and pool. A communal room and adjoining landscaped outdoor terraces provide shared open space for residents.

<img alt="First Look: Mathieson Property unveils eight-storey infill housing proposal ‘Dian’ in Rose Bay" data-entity-type="file" data-entity-uuid="dd2e275f-c270-4eb1-9a02-2b573b8eb540" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Rose%20Bay%20front_0.png?VersionId=Us5jNEG6iLFLLMfQSzVBVdILYobBj.g9" />

The site sits around 365 metres walking distance of Rose Bay Town Centre and around 312 metres from regular bus services on New South Head Road, meeting the accessible area criteria under the Housing SEPP.

In early 2025, the NSW Government implemented significant changes to its Low and Mid-Rise Housing Policy, altering planning controls to allow greater density for new apartment projects within an 800-metre walking distance of stations and town centres in the&nbsp;<a href="https://www.apartments.com.au/developments/woollahra-nsw-2025">Woollahra</a>&nbsp;Local Government Area, overriding existing local controls. Buildings are now permitted to rise up to six storeys within 400 metres of a station or centre, or eight storeys where affordable housing is incorporated, and up to four storeys within the 401 to 800 metre radius, which can increase to six storeys with affordable housing.

Mathieson Property unveils Dian Rose Bay apartment development

Lower North Shore developer <a href="https://www.apartments.com.au/developers/hyecorp-property-group">Hyecorp</a> is preparing to launch <a href="https://www.apartments.com.au/new-apartments/celine-chatswood-37-archer-street-chatswood-nsw-2067">Celine</a>, its new apartment development in Chatswood.

Set within a blue ribbon location on Archer Street, Celine will rise on a quiet, tree-lined enclave on the edge of the South Chatswood Heritage Conservation Area, a short walk from the connectivity which Chatswood is famous for.

Celine will deliver 122 one, two, three, and four-bedroom residences, designed to accommodate a broad range of buyers, from owner-occupiers to investors.

[smartcode_project:default project_id=149594 project_image_fid=362610]

Designed by&nbsp;<a href="https://www.apartments.com.au/architects/fuse-architecture-0">Fuse Architects</a>, the 29-storey tower has been shaped to respond to its Archer Street setting, with a defined podium and slender upper levels.&nbsp;

The building incorporates a two-storey residential lobby at the corner, double-height retail fronting Bertram Street, food and beverage tenancies along a through-site link, and two levels of commercial office space.&nbsp;

A landscaped pedestrian connection between Archer and Bertram streets will provide a publicly accessible link through the site, extending activity at ground level beyond the building footprint.

[smartcode_project:default project_id=149594 project_image_fid=362606]

Inside, Hyecorp is emphasising scale and flexibility. Most residences will incorporate multipurpose rooms, allowing buyers to configure additional living, study or guest space within their floorplan.&nbsp;

Kitchens have been designed with proportions more commonly associated with standalone homes, complemented by Gaggenau and Miele appliances, integrated refrigeration, Miele laundry appliances, Taj Mahal stone and bronze tapware.&nbsp;

Buyers will also have the option to tailor aspects of their home through the developer’s “Live Your Way” personalisation service.

Resident amenity will include an outdoor pool, gym and sauna, as well as barbecue and lounge areas designed for shared use. Upper levels are oriented to capture eastern outlooks towards the Sydney CBD and surrounding greenery.

[smartcode_project:default project_id=149594 project_image_fid=362633]

The location places future residents within 800 metres of Chatswood Interchange, providing access to metro and rail services, and within walking distance of Westfield, Chatswood Chase and the Chatswood Concourse. Parks including Chatswood Park and Beauchamp Park are nearby, along with a cluster of schools and private hospitals.

Celine continues Hyecorp’s focus on the Lower North Shore. The Australian, family-owned developer has been operating locally for more than 30 years, with recent projects including Audrey in St Leonards, now nearing completion, and Juliet in Roseville. With registrations expected to open soon, Celine represents the group’s latest addition to the Chatswood apartment market.

[smartcode_project_cta:default project_id=149594]

Hyecorp unveils Celine, a striking new apartment tower in the heart of Chatswood

International development company <a href="https://www.apartments.com.au/developers/spg-land">SPG Land</a> has kicked off construction of the $1.5 billion <a href="https://www.apartments.com.au/new-apartments/paradiso-place-surfers-paradise-103-ferny-avenue-surfers-paradise-qld-4217">Paradiso Place</a>, one of the highest value developments to get underway on the Gold Coast in more than a decade.

Located on a 1.15ha site stretching from Surfers Paradise Boulevard to Ferny Avenue, Paradiso Place, when completed, will deliver 845 residences across three residential towers. &nbsp;

Paradiso Place has been several years in planning by SPG, which has now pushed the green light on construction to meet pent-up demand from investors and owner occupiers.

&nbsp;

[smartcode_project:default project_id=106566 project_image_fid=185858]

The move follows minor amendments to the original design to cater to buyer demand, including the provision of more premium residential amenity, including private dining, lounge and events spaces for residents to entertain guests.

The three towers, comprising 41, 40 and 44 levels, will bring to the market 845 apartments with each tower boasting its own podium level interconnected skybridge to create a unique elevated ‘beachside village’ for residents.

[smartcode_project:default project_id=106566 project_image_fid=362500]

The <a href="https://www.apartments.com.au/architects/rothelowman">Rothelowman</a>-designed development will bring a broad range of residences to the market, most offering ocean views and all enjoying five-star hotel amenities with world-class facilities and the convenience ground level retail precinct.

&nbsp;

Construction of Paradiso Place has been made possible by SPG’s newly established SPG Built division partnered with experienced project management group Eastview Australia, a company that has supported the development of a raft of major projects on the Gold Coast over the past two decades.

[smartcode_project:default project_id=106566 project_image_fid=362499]

“It’s a very exciting time for Paradiso Place as we start construction,” said SPG Land Chairman David Wang.

“We have spent our energy refreshing design and assembling the best team and waiting for what we believe is the right time to start construction on one of the most exciting mixed-use developments to proceed on the Gold Coast since Oracle in Broadbeach and Circle on Cavill in Surfers Paradise. &nbsp;

“The local and interstate downsizer market is getting stronger, and we see Paradiso Place as the right project for our times right now. Our company has the capacity to deliver large-scale projects, and we are thrilled to be bringing this vision to reality.”

&nbsp;

[smartcode_project:default project_id=106566 project_image_fid=185861]

SPG Invest, a company founded in Australia in 1998 with a focus on high-end real estate and premium hospitality assets, has delivered 56 projects in the Asia-Pacific region over the past twenty-five years, including The Peninsula Hotel Shanghai and the Global 188 twin-tower project in Suzhou and Cambridge Residences at Robina.

Paradiso Place will deliver a range of new apartments with two-, three- and four-bedroom layouts, as well as a collection of sub-penthouse and penthouse apartments across three levels. Prices start from $950,000.

[smartcode_project:default project_id=106566 project_image_fid=185852]

“We have a very strong vision for Paradiso Place – we are creating a unique beachside residential community where contemporary design &amp; architecture and luxury materials combine with five star residents’ amenities and the convenience of a premium retail precinct on the ground floor”, said SPG Land CEO Dr Ying Rao&nbsp;

“We are confident that the community will recognise that this is more than just another development. Paradiso Place will bring a much-needed retail precinct and lifestyle hub to northern Surfers Paradise with premium retail, lifestyle and food and beverage options,” Said Dr Rao&nbsp;

“The retail precinct is critical to enhancing the lifestyle amenity for residents and guests, so SPG will retain control of this precinct to curate a premium retail offering that will support this thriving new community.

“SPG will also retain short-term holiday letting to control premium and luxury outcomes in line with our vision.”

Construction of Stage 1 Paradiso Place is expected to be completed by end of 2029.

[smartcode_project_cta:default project_id=106566]

Construction commences on $1.5 billion Paradiso Place development in Surfers Paradise

Mixed Use

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A mix-used, freehold asset in Sydney’s Balmain has sold to a local investor.
Situated at 205 Darling Street, the 116sqm property offers views of the Sydney skyline and sold for $1.4 million.
The home was listed on the market for over 200 days, after being listed previously without sale in 2018.
Achieving a yield of 4.2 per cent, the site offers a diversified income stream with its ground-floor being let to an art school and a residential tenant occupying the upstairs space.
The one-bedroom apartment upstairs featured two balconies, a rooftop terrace, and private garden access via Queens Place.
Savills Australia’s Nick Lower, Selin Ince and Oliver Ridley negotiated the deal.
“With retail trading at sub 5 per cent, it is clear consumer sentiment is on the rise, and investors are taking advantage of current market conditions in order to secure premium property”, they said.
The property is located in close proximity to the Sydney CBD and is only moments to Darling Street’s retail precinct.
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j.ballantyne1990-6AQqhLzZaK

Mixed-use freehold asset in Sydney's Balmain sells for $1.4 million

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Domayne furniture Hire and Property Styling has snapped up a 7 year lease of an office and warehouse in Brisbane’s northern suburb of Northgate
Situated at 16&amp;17/62 Crockford Street, the asset that came with a 2,398 sqm building area and a 4,000 sqm site area, was signed up for an initial seven year leasing term with an additional three year option.
The agents declined to comment on the rental, however industry sources say it was between $135-$155 per sqm.
The property was marketed and leased by Ray White Commercial Queensland Senior Sales and Leasing Executives Aaron Aleckson and Andrew Doyle and Director – Brokerage Services Paul Anderson, with CBRE as co-listing agents.
Director of Domayne furniture Hire and Property Styling, Melinda Littman said, “moving into the new Crockford Street Northgate location in early 2020, the 2,382 sqm single building over two titles hopes to support the business expand further over the next seven years.”
Mr Doyle said it was pleasing to see another quality tenant move into the estate at 62 Crockford Street. “The draw card for this estate really has been the medical precinct and restaurant at the entrance to the site,” he said. “Domayne now joins a quality list of tenants to the estate such as Thyssenkrupp, Bayer Pharmaceuticals and Bevis and Bartels.” Mr Anderson said they had seen a spike in enquiry on the speculatively built warehouses in the North Gateway Precinct with a number of tenants still actively looking. “It offers many benefits associated with being right on the Gateway Motorway, with easy access to the Brisbane Airport, CBD and Airport Link tunnel.”
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Domayne Furniture Hire take up seven year Northgate office warehouse lease

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The Feros Hotel Group has bought Highfield Caringbah, the modern bistro and sports bar, for around $15 million.
Feros Hotel Group, who also run The Terrey Hills Tavern and Potts Point Liquor, were the tenants of the premises at <a href="http://ecomms.raywhite.com/collect/click.aspx?u=jRYOrR8N39QzG/Nyy8oj1MsQ8lDBqOLeGnfqPgIdmzmVW8USMH2yRIkL23sKlvcw9AAv2bvY52GmBAZy16vj3DwUuonGW8rSPNlY+IBAk29Rqkhsq7NIhj/eLAv7JpZH4lmUg0pxGF1IkmoZw/p+yg==&amp;rh=ff0051548225348a722f5b8b9b45b797708c0ed0" target="_blank">32 Banksi</a><a href="http://ecomms.raywhite.com/collect/click.aspx?u=jRYOrR8N39QzG/Nyy8oj1MsQ8lDBqOLeGnfqPgIdmzmVW8USMH2yRIkL23sKlvcw9AAv2bvY52GmBAZy16vj3DwUuonGW8rSPNlY+IBAk29Rqkhsq7NIhj/eLAv7JpZH4lmUg0pxGF1IkmoZw/p+yg==&amp;rh=ff0051548225348a722f5b8b9b45b797708c0ed0" target="_blank">a Road</a> in Sydney’s south.
Feros spent around $12 million in 2017 on major capital works and a fit-out.
The former workers' club, which homes Ugly Pizza, Huxley's, Public House and The Botanical, as well as a Sports TAB and gaming space, was offered with a double net lease with a net passing income of $589,104 + GST.
Spanning three levels, the building with 3,070 sqm of net lettable area on its 1,025 sqm land, has future development potential to add accomodation and an additional rooftop bar. 
Ray White Commercial NSW – Sydney City Fringe agents Kristian Morris and Justin Rose secured the sale.   Morris said there was strong interest throughout the campaign and the final sale price represented a sub-four per cent yield.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2019/9/10/Highfield%20Caringbah%202.jpg" alt="">   “This was a well-executed campaign with 85 direct enquiries, 15 different groups inspecting the property and multiple parties interested close to the four per cent yield mark,” he said.   “Buyers saw the value in such a long lease (15-years plus options totalling up to 60 years with ratchet clause in favour of the lessor) and strong covenant. “Hotel assets that are subject to such a long lease don't come up very often and this resulted in such a tight cap rate 
Rose added that the property was an outstanding three-storey mixed-use hospitality asset with four separate but interconnecting dining experiences.   “It’s rare to have such a long and secure lease to a group that’s committed to the area, and it provided the right buyer with an investment seldom offered to the market,” he said.   “These freehold subject-to-lease (FSTL) opportunities are rarely available and it offered a stress-free and hassle-free annuity income stream, with the tenant paying 100 per cent of the outgoings and running costs.   “It’s close to the Caringbah Town shopping centre and major retailers such as Coles, Woolworths, McDonald's and is just 150* metres to Caringbah train station.”
 
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jrobinson-rf4aSBido9

Feros Hotel Group snap up Highfield Caringbah for around $15 million

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A mixed-use building on Perth’s high profile Queen Street has been sold for $4.89 million. 
The period building at 26 Queen Street was contested with more than 60 Information Memorandums provided, said Knight Frank Partner, Capital Markets, Todd Schaffer.
Schaffer said the building was positioned to capitalise on the resurgence of the top end CBD retail market, particularly around the King/Queen Street and Raine Square precinct. 
He said its location, 100% occupancy and offering had made it attractive to a broad range of investors. 
Knight Frank senior sales executive Rick McIntosh-Whyte said with two new hotels soon to open nearby and the continued evolution of Raine Square and Kings Square, the Queen/King Street precinct would continue to attract high levels of interest. 
The building is arranged over four levels providing flexible accommodation with a total net lettable area of 740 square metres.
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Mixed-use building on Perth's Queen Street sold for $4.89 million 

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A Fitzroy North landholding on Queens Parade with triple street frontages is being offered to market.
The 3,200 sqm development site is situated on a prime corner landholding at 81-89 Queens Parade, with triple street frontages to Alexandra Parade, Queens Parade, and George Street.
Savills Australia’s Clinton Baxter, Jesse Radisich and Benson Zhou have been appointed to manage the expressions of interest campaign with expectations of above $18 million.
“The upside potential of this site is profound, and we have already commenced fielding interest from major local and offshore developers keen to know more about this project,” said Mr Baxter.
“There is approved planning in place for an 8-level Cox Architecture mixed-use commercial project.”
“81-89 Queens Parade is arriving at a time and place that meets the strongest commercial office markets in decades,” added Mr Baxter.
Mr Zhou said that “whilst there has been talk of reducing Chinese capital in our market, Savills has sold more than half of our last 20 deals to buyers of Chinese background. Really there has been a flight to quality projects and investments, the money definitely is still there for the best projects like this one.”
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Savills marketing mixed-used Fitzroy North development site

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A new $83 million mixed-use development in Maroochydore has been given the green light.
Economic Development Queensland has ticked off on the proposed two residential towers and six Small Office-Home Office (SOHO) townhouse project.
The project will be on a 4158 square metre parcel of land in the new CBD.
There will be a total of 152 units across the two towers.
Habitat Development Group Managing Director Cleighton Clark said the SOHOs will offer a new style of office product in the Sunshine Coast market.
The number of small businesses on the Sunshine Coast has grown by 2.5% over 2018, ABS data indicates.
 “The SOHOs have clearly hit the mark for this sector, providing a perfect combination of work and home in one property,” Clark said.
The SOHOs will have a non-residential space on the ground floor, which can be used for an office, shop, food and drink outlet or other kind of business. 
Work is expected to start on the project in February 2020.
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New $83 million mixed-use project in Maroochydore given green light 

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Firstly, what is a Polycentric city and how can it benefit our growing population?

In Urban Planning, a Polycentric city is an urban area that is organised around multiple cities. In this example, Melbourne CBD is designated as the major hub with built up connecting activity centres which benefit by sharing job creation with inner and outer suburbs using a '20 minute neighbourhood' model. 
We can benefit from being a polycentric city in numerous ways as it will decrease travel time, localise businesses, encourage walkability, cycleability, social interaction, networking and community by creating opportunities in areas with existing increased infrastructure standards.

<h2>What does Melbourne look like now?</h2>

An estimated 5 million people reside in the city limits as of early 2019 with an expected projection upwards of 8 million people by 2050. 
This immense growth has seen:

<ul>
<li>An average of 50,000 new homes being built, most of those are a product of Urban Sprawl with new housing estates, communities and suburbs developing beyond existing suburbia.</li>
	<li>Due to urban sprawl, commute times have increased for many Melbournians, adding 30 minutes to the average drivers journey to work. </li>
	<li>With infrastructure not meeting the demands soon enough due to unprecedented growth, liveability in outer reach suburbs is lower as connection to jobs, opportunities, education and basic services require car dependency.</li>
	<li>Most job creation is isolated to or around the Melbourne CBD, with a daily workforce of over 500,000 people. 
	 </li>
</ul>
<figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/screen_shot_2019-07-30_at_2.03.16_pm.png" rel="gallery-all" title="Sprawl in Melbourne's South Western suburbs. Image by Google Maps"><img alt="" class="image-article-full-width-580px" height="314" src="/s3/files/styles/article_full_width_580px/public/pictures/article-images/screen_shot_2019-07-30_at_2.03.16_pm.png?itok=JQT7LvTB" title="Sprawl in Melbourne's South Western suburbs. Image by Google Maps" width="580"></a>

<figcaption>Sprawl in Melbourne's South Western suburbs. Image by Google Maps</figcaption></figure> What will Melbourne look like as a polycentric city?

<ul>
<li>With activity centres already in place and on the move for urban renewal and rejuvenation in Frankston, Reservoir, Moonee Ponds, Box Hill, Footscray, Preston, Epping, Sunshine, Dandenong and Werribee we will see an abundance of localised opportunity and a shared balance of job creation that extends beyond the CBD, strengthening our city economy.</li>
	<li>When built up, these activity centres will provide a diverse range of jobs, activities and housing options for residents as well as playing major roles in delivering health, education, government, retail and commercial services.</li>
	<li>Existing local activity centres thrive as they remain dedicated to community, culture and social attributes as well as giving residents no reason to commute one or two hours to work. This increases the quality of life majorly.</li>
	<li>These mini-cities are hubs of medium to high density mixed use developments, which will help curtail urban sprawl thus lessening the impact on native ecological and natural environments.</li>
</ul>
 

<h2>Existing - <a href="/developments/moonee-ponds-vic-3039">Moonee Ponds</a> Activity Centre</h2>

<figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/moonee_ponds_new_heart_pedestrians_and_cyclists.png" rel="gallery-all" title="Artist impression of the new civic centre space with a dedication to pedestrians, cyclists and community buildings."><img alt="" class="image-article-full-width-580px" height="338" src="/s3/files/styles/article_full_width_580px/public/pictures/article-images/moonee_ponds_new_heart_pedestrians_and_cyclists.png?itok=1uJkgm6L" title="Artist impression of the new civic centre space with a dedication to pedestrians, cyclists and community buildings." width="580"></a>

<figcaption>Artist impression of the new civic centre space with a dedication to pedestrians, cyclists and community buildings.</figcaption></figure> 
Moonee Ponds is a principal activity centre in Melbourne’s north-west with a current population of 15,000 people. Known for destinations such as the Moonee Valley Racecourse, Queens Park and the quaint community feel of the cafe’s, bars, boutiques and fresh food shopping of Puckle and Hall street.

This eclectic inner city suburb is just 7km out of the Melbourne CBD and has recently seen monumental growth in terms of density and commercialisation. At its core, the Moonee Ponds Junction serves as the arterial and tram connection to surrounding suburbs.

The 2030 Moonee Ponds activity plan expects to develop the suburb into a high density, pedestrian friendly, sustainable centre that intimately connects to public transport in an effort to reduce urban sprawl and car dependency which includes developments such as <a href="/buildings/hall-st-40-hall-street-moonee-ponds">Mason Square</a> by <a href="/developers/caydon-property">Caydon</a>.

Moonee Ponds vision is to exceed in creating a new civic community space with a central square around the historic Clocktower, create major improvements to car parks and pedestrian access, fostering and nurturing retail and businesses, protecting heritage, enhancing neighbourhood character and expanding community services such as health and education centres.

 

Existing - <a href="/developments/preston-vic-3072">Preston Central</a> Activity Centre

<figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/screen_shot_2019-07-30_at_12.45.07_pm.png" rel="gallery-all" title="Artist impression of residential and mixed use density surrounding Preston Market."><img alt="" class="image-article-full-width-580px" height="316" src="/s3/files/styles/article_full_width_580px/public/pictures/article-images/screen_shot_2019-07-30_at_12.45.07_pm.png?itok=e4wtsJ3E" title="Artist impression of residential and mixed use density surrounding Preston Market." width="580"></a>

<figcaption>Artist impression of residential and mixed use density surrounding Preston Market.</figcaption></figure> 
Preston is a multicultural suburb 9km north of Melbourne CBD with a plan to centralise growth and progress opportunities for residents. Preston’s population of 32,000 people is made up of European, Asian and Middle Eastern residents, many of which are descendants of the post war migration. The suburbs flat terrain and abundance of land resulted in low density developments to which now is evolving into a hub for the North as population growth pressure and closeness to the CBD leads to more medium to high density residential developments.

The Preston Activity Centre is centralised around the beloved Preston Market, with a strong focus on retaining its community charm and cultural significance for the suburb. The utilisation of car parks and empty plots surrounding Preston Market and the suburbs main thoroughfare for local businesses, High Street is an important factor in bringing people closer to work and opportunities. 

Preston has numerous community facilities such as the Darebin Performing Arts Centre, Preston Library and the Northern Region Migrant Resource Centre which are all serviced by Preston Station, the main link to education and fresh food markets in the suburb.

The main objective for the central plan is to curtail urban sprawl, strengthen community links and advanced opportunities, increase business and civic space and provide residents with affordable housing options. Preston could see an increase of over 10,000 new residents in the next 5 years with high density developments such as <a href="/buildings/due-north-preston-70-82-high-street-preston">Due North</a> and <a href="/buildings/8-clinch-avenue-preston">8 Clinch Avenue</a>.

 

<h2>FUTURE - <a href="https://merrifieldmelbourne.com.au/about/">MERRIFIELD, MICKLEHAM</a></h2>

<figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/merrifield-render-1.jpg" rel="gallery-all" title="Rendering of civic space in Merrifield’s city centre."><img alt="" class="image-article-full-width-580px" height="387" src="/s3/files/styles/article_full_width_580px/public/pictures/article-images/merrifield-render-1.jpg?itok=qWnNkxJO" title="Rendering of civic space in Merrifield’s city centre." width="580"></a>

<figcaption>Rendering of civic space in Merrifield’s city centre.</figcaption></figure> 
Located in Melbourne’s far north is the newly planned community suburb of Merrifield, a joint masterplan by <a href="/developers/mab-corporation">MAB</a> and <a href="/developers/gibson-property-corporation">Gibson Property</a> which will sustain a population of 30,000 residents and 40,000 workers. 
The city of the north is expected to be completed by 2025, and aims to be a hub of connectivity for small and large businesses in their business district, a cultural and community space with shops, restaurants and medium density residential and civic buildings by the Central Park and waterfront with 12,000 homes planned and already under construction. 
Merrifield is serviced by rapid bus transport and major highway links though aims to truly be a walkable, 30 minute neighbourhood where residents will use the pedestrian and bicycle friendly links to reach all of their daily needs. 
As the North is one of the fastest growing areas in the country, we need sustainable and centralised developments with updated infrastructure and commercial opportunities for residents. Car dependency makes working in the CBD difficult for many people living in the Northern suburbs as transport is infrequent or too far from home. Having a hub closer to the outer reach suburbs makes a vast improvement for businesses and locals who live an hour from the CBD.

The community is already home to one of Victoria's biggest Industrial Parks with Dulux, D'orsogna and Australia's first Kaufland setting up shop with access to sustainable energy and recycled water. 
Merrifield boasts numerous lakes, wetlands and urban parks which are designed to encourage environmental consciousness and enrich natural biodiversities. 
 

 
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Nick Dante

How close is Melbourne to becoming a Polycentric city?

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The former home of one of Perth’s most recognised cake shops, Avanti Cakes, has been listed for sale.
It is almost 3,000 square metres of prime real estate on Beaufort Street, Inglewood.  
After 35 years of ownership, the Lembo family has appointed CBRE to market for sale the four adjoining properties.
They are 867 Beaufort Street (1,183 square metres); 871 Beaufort Street (604 square metres); 875 Beaufort Street (594 square metres) and 875 Beaufort Street (599 square metres). 
The combined 2,980 square metre site was home to Avanti Cakes – one of Perth’s top wedding cake suppliers – between 1983 to 2005.
It was also the former Inglewood Police Station buildings. 
The property has recently received development approval for a five-storey mixed use project comprising restaurant and retail shops, medical consulting rooms in the retained heritage police quarters, 57 residential apartments and 78 car parking bays.
It is located opposite the mooted Inglewood Woolworths. 
CBRE’s Michael Milne and Ben Younger have been appointed to market the site for sale via a public offers to purchase process closing July 4.  
Milne said the properties represented an attractive development opportunity in one of Perth’s most desirable inner metropolitan locations.  
“Many people will recognise this high-profile site by the Avanti Cakes mural, which has decorated its exterior since the ‘80s, together with the adjoining Inglewood Police Station buildings," he said. 
"Its favourable street profile and existing development approval will underpin strong buyer interest from retail groups and mixed-use developers."
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Former Avanti Cakes, Perth premises listed for sale

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Nissan Motors has been secured as the anchor tenant for Frasers Property Australia (Frasers Property) and ESR Australia (ESR1) newly purchased Mulgrave site
The 4.67 acre 254 Wellington Road site has received planning approval for 60,000 sqm of commercial space, a 752 sqm café/retail area and 2,497 car spaces.
A community hub is also envisaged incorporating a gymnasium, restaurant and activated outdoor open space.
The business park is expected to have an end value of A$400 million when completed.
Anthony Maugeri, General Manager, Southern Region Commercial &amp; Industrial, for Frasers Property Australia stated, “Frasers Property, in joint venture with ESR, previously developed 211 Wellington Road with a strong track record in attracting major corporates to the area. 
"We plan to develop a state-of-the-art business park and are eager to deliver industry-leading amenity on the site to assist in attracting large commercial occupiers,”he said.
Phil Pearce, Chief Executive Officer at ESR Australia said, “This is an exciting project for ESR and Frasers Property as we commence a large-scale business park development in Melbourne’s south-east. We are seeing Mulgrave emerge as a growing suburban commercial office market"
Nissan Australia’s Managing Director Stephen Lester said, “Our current office was officially opened in June 1977, so over the 40 plus years that we have based ourselves here it has served us well, but we have grown as a business since then."
<img src="https://www.urban.com.au/images/2019/6/14/Nissan%202.JPG" alt="">
Nissan Australia’s 11,000 sqm facility will be spread across five levels (including ground level) of the 8 level building and will comprise over 9,000 sqm office, 1,850 sqm workshop and 550 car bays.
The new building, situated on the corner of Wellington Road (60 metre frontage) and Peters Avenue will achieve a 5 Star Green Star Design &amp; As Built v1 certified rating from the Green Building Council of Australia.
The joint venture is a 50:50 split between Frasers Property and ESR. Frasers Property secured the 245 Wellington Road site, while ESR will undertake the development. Nissan Australia’s building is anticipated to be completed by May 2020 while the entire development is forecast for completion by late 2025.
Practical completion of the facility is due in May 2020.
Andrew Peak, Gianni Macdonald and Stephen Adgemis from CBRE brokered the Nissan transaction.
Rob Joyes from Colliers International brokered the 254 Wellington Road acquisition.
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Nissan to anchor Frasers Property and ESR's newly purchased Mulgrave site

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Melbourne developer Welsh Group has purchased an additional site in the Victorian suburb of Armstrong Creek.
The site at 500-540 Surf Coast Highway completes the Welsh Group ownership of over 40 hectares of landholdings at the mixed-use Armstrong Creek Town Centre.
Construction of the site, which has now received planning approval, is due to commence in the coming weeks.
Stage 1 of the development comprises of a Coles supermarket along with supporting specialty retail.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2019/5/31/IN1.jpg" alt="">
Andrew Welsh, Managing Director of Welsh Group, said Stage 1 of the Town Centre is scheduled to open in 2020.
“Stage 1 will initially service approximately 58,000 people, and provide in excess of 1,100 ongoing jobs, with the suburb set to rapidly increase to over 110,000 residents by 2036,” Welsh said.
“The Welsh Group has a strong investment within the Geelong region through its residential homes division, Welsh Homes.
“The Armstrong Creek Town Centre will be the first major commercial project in this region delivered by Welsh Group, and will include a range of retail, leisure and entertainment, residential and community facilities; bringing an array of services and employment opportunities to the growing community.”
Colliers International has been appointed as exclusive leasing agents with Mike Crittenden and Adam Lester set to manage the leasing campaign.
“The initial off market campaign in securing the anchors, has already generated significant local and national retail interest for the soon to be launched specialty tenancies,” Crittenden said.
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