Malaysian developer <a href="https://www.apartments.com.au/developers/s-p-setia">SP Setia</a> is the latest to jump into St Leonards booming Transport Oriented Development precinct.

The developer, which has previously delivered Sapphire by the Gardens apartment development in Melbourne, identified the Atchison Street site in 2023. It filed a Scoping Report around 12 months ago, and now has revealed the designs for the new&nbsp;40-storey mixed-use tower.

The State Significant Development Application covers <a href="https://next-portal.urban.com.au/projects/14650/summary">20-22 Atchison Street</a>, a 1,374 sqm site positioned between St Leonards Station and the new Crows Nest Metro station.

Designed by <a href="https://www.apartments.com.au/architects/cox-architecture">COX Architecture</a>, the project would deliver 181 apartments, above a four-storey commercial podium, five basement levels, and new public domain works along Mitchell Street. The apartment mix comprises 35 one-bedroom apartments, 39 one-bedroom-plus-study apartments, 85 two-bedroom apartments, and 22 three-bedroom residences.

The proposal has been lodged as a shop-top housing development under the NSW Government’s TOD planning pathway, which allows increased density around key transport infrastructure. The site sits within the recently rezoned Crows Nest Accelerated TOD Precinct.

<img alt="First look: SP Setia targets St Leonards skyline with 40-storey TOD tower" data-entity-type="file" data-entity-uuid="b799673d-48e2-46b0-801a-0e33a9330100" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/atchinson%20site.png?VersionId=dPh0UfwfaHpbFL1R7H1cbZNbIW0CHbCC" />

SP Setia acquired the Atchison Street site as part of its continued expansion into the Australian apartment market. In comments made to City &amp; Country (The Edge Malaysia) in 2023, SP Setia President and CEO Datuk Choong Kai Wai described the acquisition as “a strategic move” aligned with the group’s post-pandemic market recovery strategy.

“Our target for this exceptional development is local and overseas buyers, including first-home buyers, downsizers and investors,” Choong said.

The tower has been designed as a slender vertical form rising from a mixed-use podium, with COX Architecture positioning the development as a response to the evolving St Leonards and Crows Nest skyline.

“The purpose of the project is to facilitate the delivery of high-quality housing at a strategically located site and deliver a built tower outcome that is consistent with the desired future character of St Leonards and aligns with the TOD controls,” the design report stated.

<img alt="First look: SP Setia targets St Leonards skyline with 40-storey TOD tower" data-entity-type="file" data-entity-uuid="b1a85eee-76f7-436c-a6da-73ba827b9b13" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/atchinson%20entry.png?VersionId=dA9jHGPMcm.dDbwk4QfxqWiY5bfh3UVt" />

The podium would incorporate retail uses fronting Atchison Street, commercial tenancies, landscaped communal areas, and pedestrian improvements along Mitchell Street. Vehicle access and loading would be consolidated via Atchison Lane.

Residents would have access to more than 665 sqm of communal indoor and outdoor spaces, while the development proposes 96 parking spaces across five basement levels.

The proposal also includes a commitment for 10 per cent of residential floor space to be allocated toward affordable housing through a monetary contribution.

COX said the tower form responds directly to the emerging high-density character of the precinct while seeking to maximise solar access, cross ventilation, and outlook from apartments.

<img alt="First look: SP Setia targets St Leonards skyline with 40-storey TOD tower" data-entity-type="file" data-entity-uuid="2163f85c-f63b-4be3-aafa-f8763976cec5" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Article%20Feature%20Image%20%28Grid%29_5.png?VersionId=WiAmtIKJ6.ZQ41EtYEQ1fol7AeorKBlL" />

“The building is orientated towards north,” the Apartment Design Guide compliance report noted, adding that the tower’s slim form was driven by the constrained inner-urban site dimensions.

The design also incorporates landscaped setbacks and communal open space at podium level, intended to soften the interface with surrounding streets and improve pedestrian amenity.

The project adds to a growing wave of redevelopment proposals reshaping St Leonards and Crows Nest following the opening of the Sydney Metro City line and the NSW Government’s push for higher-density housing around major transport nodes.

Last week Stockland filed plans just down the road. They want to build a <a href="https://www.apartments.com.au/new-apartments/601-pacific-highway-st-leonards-nsw-2065">52-storey tower on Pacific Highway</a>.

Read more:&nbsp;<a href="https://www.apartments.com.au/news/nsw/first-look-stockland-plans-52-storey-538-apartment-st-leonards-tower">First look: Stockland plans 52-storey, 538-apartment St Leonards tower&nbsp;</a>

Joel Robinson

First look: SP Setia targets St Leonards skyline with 40-storey TOD tower

<a href="https://www.apartments.com.au/developers/urban-property-group">Urban Property Group</a> has revealed plans for a new mixed-use tower at 10 Dangar Street, Wickham, advancing a proposal that would reshape the southern gateway to Newcastle’s city centre with one of the city’s tallest residential buildings.

The State Significant Development proposal, now on exhibition, seeks approval for a <a href="https://www.apartments.com.au/new-apartments/bowline-10-dangar-street-wickham-nsw-2293">43-storey tower</a> immediately adjacent to the Newcastle Interchange. The project would deliver around 200 apartments, including 42 affordable housing dwellings, alongside 99 co-living units, a 171-room hotel, retail space, and new public domain integrated through the site.

The scheme marks a significant escalation of plans previously approved for the site. Urban Property Group took over the prominent 2,904 sqm parcel, where excavation and demolition had already commenced under an earlier consent for a 14-storey mixed-use development.

<img alt="First look: Urban Property Group unveils Newcastle’s next supertower at Wickham interchange" data-entity-type="file" data-entity-uuid="58a96dd9-407f-4d20-86b4-94e4bfeef74b" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/wickham%20podium.png?VersionId=LGlf08pdFGAZDzvx_CXC4XakHNZRuEE0" />

Designed by <a href="https://www.apartments.com.au/architects/sjb-architects">SJB</a>, the tower has been conceived as a landmark transit-oriented development anchored to the Newcastle Interchange precinct. The proposal includes 245 build-to-sell apartments across a mix of one, two, and three-bedroom residences, as well as two penthouses. Fifteen apartments and one operational unit are earmarked for NDIS housing. The co-living component would add a further 99 units, while the podium would accommodate retail uses and hotel facilities.

SJB said the site presents “a valuable opportunity to anchor the precinct by setting the standard for design, active ground planes and character at the key southern gateway.”

The architecture responds directly to the site’s position beside major transport infrastructure and within one of Newcastle’s fastest-evolving urban renewal precincts. The tower form sits above a sculpted podium designed to frame new public spaces, including a through-site pedestrian link connecting Station Street to Hannell Street, landscaped plazas, and activated retail edges.

<img alt="First look: Urban Property Group unveils Newcastle’s next supertower at Wickham interchange" data-entity-type="file" data-entity-uuid="a7bd6ff0-f7db-4ce8-a6dc-ea56e72c6149" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/wickham%20lanne.png?VersionId=xzf39VADyhj7zBQY2I9fx9vI62u2tuSb" />

The design report describes the project as part of the broader transition of Wickham into “a vibrant, high-quality mixed-use urban precinct” that leverages proximity to the station, open space, and regional connectivity.

A detailed public art strategy has also been prepared for the development. The strategy positions the project as “a transit-oriented development of state significance at the gateway to Newcastle’s city centre” and outlines a series of integrated artworks responding to Newcastle’s industrial and transport heritage.

Creative Road’s curatorial framework for the project, titled Unveil, draws on “stratified surfaces, carved volumes, and light-filled apertures” while referencing Newcastle’s transformation from an industrial city into a contemporary education and technology hub.

<img alt="First look: Urban Property Group unveils Newcastle’s next supertower at Wickham interchange" data-entity-type="file" data-entity-uuid="77a882bb-14b1-4d28-99ff-9438e39508c0" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/wickham%20site.png?VersionId=cevgo_vN0eKPK78P8YcEu3mKPLkpFqE7" />

The proposal is being advanced through the NSW Housing Delivery Authority pathway after being declared State Significant Development in June 2025. The accompanying scoping report states the development aims to “maximise the site’s proximity to the Newcastle Interchange by delivering transit-oriented development” while increasing housing supply and affordable housing provision within the Newcastle LGA.

Urban Property Group’s plans align with the long-term strategic vision established under the Wickham Master Plan, which identified the interchange precinct as suitable for substantial uplift in height and density. The current proposal would significantly intensify that vision, positioning the tower among the tallest developments proposed for Newcastle.

The site sits immediately north of the Newcastle Interchange, bounded by Dangar Street, Hannell Street, and Charles Street. It is surrounded by a rapidly growing cluster of residential towers and mixed-use projects that have emerged following the completion of the light rail and transport interchange.

First look: Urban Property Group unveils Newcastle’s latest tower at Wickham interchange

Bottega House has completed settlement of a landmark riverfront site in Macquarie Street, St Lucia, representing its first major Brisbane development.&nbsp;

Positioned on the banks of the Brisbane River, the <a href="https://www.apartments.com.au/new-apartments/180-macquarie-street-st-lucia-qld-4067">premium site at 180 Macquarie Street</a> features uninterrupted river frontage in one of Brisbane’s most tightly held residential precincts.&nbsp;

The proposed development, currently under assessment with Brisbane City Council, has been designed by <a href="https://www.apartments.com.au/architects/plus-studio">Plus Studio</a> with interiors by <a href="https://www.apartments.com.au/interior-designers/mim-design">Mim Design</a> and will deliver a boutique collection of premium residences positioned specifically for owner occupiers and downsizers.&nbsp;

The residences are set to redefine luxury apartment living in the area, with a focus on architectural quality, refined finishes, landscape integration and elevated amenities including curated wellness facilities, resort-style pools and recreation spaces rarely seen in the local market.&nbsp;

Exclusive sales for the project will be led by Keenan &amp; Byrne, ahead of an anticipated launch later this year.&nbsp;

Bottega House Managing Director Nick Malloch said the project reflects the group’s ambition to deliver a highly curated residential offering within one of Brisbane’s most tightly held precincts.&nbsp;

“This is an incredibly rare riverfront opportunity and one we have approached with a long-term perspective,” Malloch said.&nbsp;

“Our vision from the outset was to create a boutique collection of residences that feel more like private homes than traditional apartments, with generous proportions, refined finishes and exceptional amenity throughout."

Malloch says there is a&nbsp;lack of premium owner-occupier stock of this quality in the market, particularly for downsizers wanting space, privacy and a true lifestyle offering without compromise.&nbsp;

"Demand is expected to be strong given the scarcity of premium riverfront opportunities of this nature within Brisbane’s inner-west."&nbsp;

Bottega House secures landmark riverfront site in St Lucia 

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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.
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[smartcode_project_cta:default project_id=112661]

SIERA kicks off construction at Northcliffe tower Exhale

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

Eastern Suburbs buyers snap up ESTE Little Bay apartments

Newcastle

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There is an increasing trend of Newcastle parents going guarantor for their children to help them enter the property market, according to HTW’s Month in Review: March 2017.  
The valuation firm says while on the surface this all seems very noble of parents to give their kids a helping hand, but they should be aware of the potential ramifications of this tactic.
“This can cause grief in the long run if payments by the children aren’t made on time, interest rates go up or something unforeseen happens in the market,” HTW warns.
“The consequences attached to the security of the parent’s property can be compromised and potentially the parents could lose what they have worked all their lives for.
“This is where due diligence and focusing on areas where the potential for loss can be mitigated are critical.”
The firm says affordable options in the region are disappearing under booming property conditions.
“BIS Shrapnel forecasts put Newcastle’s growth over the three years to 2018 at 15%, so the time to get into the market would appear to be sooner rather than later,” it says.
However, it suggests areas such as Huntlee in the Hunter and surrounding suburbs offer first home owners attractive subsidies in the form of rebates such as landscaping packages, cash back incentives or furniture packages.
“It is easier said than done to find a suitable property under half a million dollars, but in areas such as Belmont, Swansea, Edgeworth, Boolaroo, Cardiff, Toronto, Wallsend and Barnsley and surrounding areas, there is still promise for first home buyers seeking houses,” the report says.
“The unit market is still very reasonable in sought after areas such as Charlestown, Merewether, Nelson Bay areas and New Lambton.”
A two bedroom unit at <a href="https://www.realestate.com.au/property-unit-nsw-nelson+bay-124832350" target="_blank">3/6 Thurlow Avenue</a>, Nelson Bay (above) has been listed for $399,000.
Similarly a two bedroom unit at <a href="https://www.realestate.com.au/property-unit-nsw-charlestown-124802622" target="_blank">U1/21 Edward Street</a>, Charlestown (below) has been listed for between $385,000 to $420,000.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/03/08/U1_21%20Edward%20Street.jpg" alt="">
A two bedroom unit at <a href="https://www.realestate.com.au/sold/property-unit-nsw-nelson+bay-124710762" target="_blank">11/3 Intrepid Close</a>, Nelson Bay (below) was recently sold for $599,000.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/03/08/11_3%20Intrepid%20Close.jpg" alt="">
Similarly a two bedroom unit at <a href="https://www.realestate.com.au/sold/property-unit-nsw-merewether-124733242" target="_blank">4/27 Mitchell Street</a>, Merewether (below) was recently sold for $451,000.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/03/08/4_27%20Mitchell%20Street.jpg" alt="">
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jonathanchancellor-7SQnKwU6yx

HTW warns parents of guarantor downsides in Newcastle

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We are witnessing one of the strongest growth periods that Newcastle has ever experienced, across all price points with blue chip property auction properties having multiple competing bidders, according to HTW's February 2017 update.
The valuation firm says this peak in the market has been a constant over the past 24 months now and with current low supply levels, it sees no early signs of flattening for the early part of 2017.
With substantial infrastructure development, the changing image of a manufacturing town is creating a diverse town offering inner city university, various businesses, ample residential unit development and tourism, the report says.
A few major urban renewal projects either nearing completion or set in stone for the near future are: the new court house, Newcastle Uni development, Hunter Street mall revitalisation and light rail system to open up the harbour and the CBD.
The NSW government also introduced a new public transport system in December 2016, linking bus, ferry and light rail systems.
“Affordable housing is being sought in all suburbs that still have a minimal commute to town,” HTW says.
“Cameron Park, Fletcher, Maryland and West Wallsend are providing newly built residences within 30 minutes’ drive of Newcastle CBD, with current median prices ranging between $520,000 and $700,000.
A four bedroom house at <a href="https://www.realestate.com.au/property-house-nsw-fletcher-124441722" target="_blank">6 Weller Street</a>, Fletcher (above) has been listed for sale for between $660,000 to $720,000.
Similarly a four bedroom house at <a href="https://www.realestate.com.au/property-house-nsw-cameron+park-123885198" target="_blank">16 Devonshire Street</a>, Cameron Park (below) has been listed for between $500,000 to $550,000.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/02/14/16%20Devonshire%20Street.jpg" alt="">
Port Stephens is a enjoying sustained growth and increasing returns after many years of negative growth and over representation of mortgagee in possession sales.  
This area is now experiencing low supply levels for vacant land in particular, with more families looking to relocate for the lifestyle this area offers.
“We expect this growth to continue into 2017 however given this area is heavily reliant on tourism, should the bubble burst, there is higher volatility in such markets.,” says HTW.
HTW says it hasn’t seen any signs of improvement in the mining town of Singleton that will change its commentary in the short term for 2017.
“Mines significantly scaled back investment in 2014 cutting jobs and costs, which trickled through to the entire economy in and around the town,” it said.
“There are a number of mines that have reopened or are planning expansion, with employment opportunities re-appearing.
“However this industry has not recovered and will take well into 2017 before a stronger economy is reflected in house prices.”
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Newcastle in one of strongest property price growth periods ever: HTW

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The total land value for the Hunter region has increased over the 12 month period to 1 July 2016 by 8.7 percent from $118.57 billion to $128.84 billion, according to the latest report from the Valuer-General.
The Report on NSW Land Values at 1 July 2016 found that decreases were experienced in land values in and around the Hunter coalfields due to the downturn in the coal mining industry. Muswellbrook (-5.3 percent), Singleton (-2.9 percent), and Upper Hunter (-3.1 percent) LGAs all experienced decreases.
Residential properties experienced the largest increase in land values with an overall increase of 9.8 percent. Residential land in coastal areas such as Newcastle (13.2 percent), Wyong (12.7 percent), and Gosford (10.2 percent) LGAs saw strong increases. These areas have experienced strong demand, and infrastructure projects like the upgrade of the Central Coast Highway and Hunter Expressway are continuing to have a positive influence on land values.
Commercial land values in the Hunter region increased moderately by 6.6 percent. Renewed interest in mixed use sites allowing high rise residential development had a positive influence on commercial land values in Newcastle (14.3 percent), with strong increases also experienced in Lake Macquarie (13.0 percent).
Industrial land values across the region increased slightly by 3.5 percent. The strongest increase was experienced in the former Wyong LGA (8.7 percent), with the largest decrease in Singleton (-11.3 percent).
Rural land values for the region increased slightly by 3.1 percent. Moderate increases were experienced in larger broad acre holdings. Lake Macquarie showed a strong increase of 10.7 percent, influenced by high demand for hobby farms and rural home sites.
For more information including interactive online land value summaries for all LGAs and 14 regions covering the state go to<a href="https://www.valuergeneral.nsw.gov.au" target="_blank"> www.valuergeneral.nsw.gov.au</a>.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/01/24/nsw-4.jpg" alt=""> 
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Hunter coalfield towns see falls in land values, but Newcastle residential values up 14 percent: NSW Valuer-General

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Prominent Sydney hotel owner and developer, Iris Group, has paid $39 million for a huge Newcastle site.
It comes with approval for a 55,000 square metre residential, retail and commercial development.
Savills, the selling agent agent, suggests it is one of the most significant property transactions in Newcastle in several years.
It was sold by GPT and Urban Growth NSW.
The so-called East End (Newcastle CBD) Portfolio covers four city blocks and 1.66 hectares of premium land, the majority bordered by Hunter, Newcomen, King and Perkins streets.
The property was recently DA approved by the Joint Regional Planning Panel (JRPP) for 47,800 square metres of residential, 4900 square metres of retail, and 2700 square metres of commercial space.
According to Savills Director Residential Site Sales, Stuart Cox, who managed the marketing campaign with Neil Cooke and Ben Azar, the site offered a vertical village of "the like the City had never seen before."
Iris Group CEO, Sam Arnaout said he was both excited and honoured to have won the opportunity to make a significant contribution to the liveability of the City of Newcastle.
He said while the property’s location and development approval were the most important factors, Newcastle’s surging population growth and concomitant demand for apartments along with the NSW Government’s $500 million commitment to revitalise the Newcastle City Centre were key additional considerations.
The portfolio’s existing improvements include a mix of 25 commercial and retail use buildings with a gross floor area of approximately 23,500 square metres.
They contain 81 tenancies, of which 25 are currently vacant, returning net annual income of $1.15 million.
 
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j.ballantyne1990-6AQqhLzZaK

Newcastle site sold to Sydney developer Iris Group

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Residential Newcastle property owners are tapping into their growing equity to utilise investment opportunities, according to Herron Todd White’s latest market report.
The property advisory firm states that people are drawn to taking on renovation projects due to reality TV programs.
“And why not, given that at any point in the year we are all drawn to watching renovation (reality) TV programs, creating that desire to take on a project from start to finish yourself,” the report stated.
Smaller scale development options can include a minor subdivision of a large residential block, allowing for a second dwelling, granny flat or even a knock down and re-build with townhouses. All are appetizing small scale projects for novice investors," the report suggested.
"In our patch of Newcastle and The Hunter, mum- and-dad investors may have difficulty sourcing an investment opportunity for small scale development within a desired budget.
“Given the stronger property market within the confines of Newcastle itself, turning up to Saturday’s open homes and attempting to get through the front door can only be described as being more hectic than the mosh pit of a 1992 Metallica concert in Alabama.
"We also note that this is the same case across every price point within the region with recent sales of blue chip properties upwards of $3 million,” the report stated.
Higher competition between prospective purchasers ultimately reflects higher sale prices, which will influence the end profitability for the investor.
Given this, investors are currently not evident in the Newcastle market, unless the typical mum-and- dad investor is looking to upsize and can secure a property with re-development potential in the long term.
Around Port Stephens, in particular Colette, Salamander Bay and Nelson Bay where there is low supply in any residential land availability, any block that has the potential to provide additional housing is in high demand.
In areas with continuous expansion of residential development such as Fletcher, West Wallsend, Gillieston Heights and Chisholm, mum-and-dad investors seeking to increase their portfolios are looking to grab the corner or wide frontage block that will allow for a duplex pair to be built.
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Mum and dads speculate with extra accomodation development around Newcastle: HTW

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Warehouse and workshops rents improved slightly during the second half of 2016 in Newcastle, with rental rates ranging from $90 to $110, according to Colliers International's latest report.
Warehouse rents continue to comprise the majority of vacant space within prime industrial locations such as Beresfield, Thornton, Mayfield and industrial suburbs surrounding the Port of Newcastle.
Rental rates are predicted to improve during 2017 due to a recovering economy and the increasing presence of owner occupiers absorbing vacant stock.
Incentives within the Newcastle market are typically associated with the leasing of larger facilities for lease terms greater than three years and range between 8 per cent to 10 per cent of the lease term certain.
The majority of lease deals negotiated during the second half of 2016 in prime industrial areas have featured incentives less than this, with most incentives being experienced for older industrial facilities in secondary and fringe industrial locations.
The current low interest rate environment, a strengthening local economy and stable industrial land values have contributed towards increased enquiry from owner occupiers within the Newcastle industrial market during the second half of 2016 (approximately 15 per cent from Q1 2016).
This increased demand from owner occupiers has resulted in an uplift in values for properties sold with vacant possession.
Colliers International has witnessed properties being listed for lease receiving strong demand from owner occupiers, with circa 60 per cent to 70 per cent of properties listed for lease being sold.
Colliers International expects owner occupiers to continue to dominate enquiry throughout Q4 2016 and Q1 2017.
The higher ratio of owner occupiers to tenant enquiry is highlighted in the following graph.
<a href="/images/2016/10/25/Perth%20H2.jpg" target="_blank">Click to enlarge</a>
<img src="/images/2016/10/25/Perth%20H2.jpg" alt="">
Increased demand from owner occupiers capitalising on the historically low interest rates and improving business confidence, has resulted in uplift in values for properties sold with vacant possession.
The most prevalent has occurred within the sub $1.5m price bracket due to affordability for self managed superannuation funds, seeking opportunities within premium industrial locations such as Beresfield, Cardiff, Thornton, Warabrook and inner city locations.
The demand in the investment market for high quality industrial assets in Newcastle, the surrounding Hunter and Central Coast Regions continue to firm.
Small to medium sized facilities are achieving yields ranging from 6.45 per cent for inner city showroom/warehouse facilities in prime locations to 8.52 per cent for larger industrial facilities with strong lease covenants.
Recent notable industrial sales indicate strong demand exists from high net worth investors and self managed funds.
The main attributes these investors are looking for include location, covenant strength, lease term/Weighted Average Lease Expiry (WALE), lease provisions and building age/capital expenditure requirements.
Recent transactions within the Newcastle region from Q1 2016 to Q3 2016 are listed in the table below.
<a href="/images/2016/10/25/Investment%20sales.jpg" target="_blank">Click to enlarge</a>
<img src="/images/2016/10/25/Investment%20sales.jpg" alt="">
The Newcastle Region industrial land market is showing signs of improvement reflected in increased enquiry level and demand for larger lot sizes.
Demand for industrial land during the second half of 2016 has steadily improved, primarily driven by owner occupiers looking at site specifics and value for money offerings; however access to labour is also a key driver in the Hunter market.
This has been evidenced with developments by Sandvik at Heatherbrae, WesTrac at Tomago and Bradken in the Steel River Estate at Mayfield West, Aurizon at Hexham and Aldi’s proposed NSW Distribution centre in Beresfield.
Serviced industrial land supply is limited to around four key industrial precincts including Beresfield, Rutherford, Steel River Estate in Mayfield and Cardiff. Supply and pricing as at June 2016 is as follows:
<a href="/images/2016/10/25/Land%20supply.jpg" target="_blank">Click to enlarge</a>
<img src="/images/2016/10/25/Land%20supply.jpg" alt="">
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Owner occupiers dominate the Newcastle industrial market

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Over 2016, the residential property market in Newcastle and the Hunter has exhibited mixed performance throughout the different areas of Newcastle, Hunter, the Upper Hunter and Port Stephens, according to Herron Todd White’s latest monthly market report.
The property advisory firm says that these locations are in substantially different stages of the property cycle, which could be described as two speed.
Upsizers are the dominant force in the marker, this being the 30 to 40 year age group with not enough room in the current home to accommodate new additions to the family.
The report said Singleton is still experiencing declining prices with little to no positive change expected in the near future.
"There are very little to no investors prepared to lose money, nor could they easily obtain finance if they wanted to," the report said.
Agents have commented that purchasing in the area is limited to a needs only basis with their vendors accepting losses.
Purchasers are upsizing at a discounted price point due to the oversupply of property within the market. The price point for a typical four bedroom, two bathroom home ranges between $400,000 and $500,000. An example would be a four bedroom home at <a href="https://www.realestate.com.au/property-house-nsw-singleton-123245166" target="_blank">19 Benjamin Circuit</a> (pictured above) that is for sale for $459,700. It came on for sale in August at $480,000.
Suburbs surrounding Maitland, including Chisholm, Thornton, Gillieston Heights and Clifftleigh, are experiencing a substantial increase of new residential housing development. This market is seeing a combination of investors competing with first home buyers who can still obtain their grants for newly built residences.
On average a typical newly built four bedroom, two bathroom property would be within a price point of between $500,000 and $600,000.
Herron Todd White notes that Port Stephens leans more towards a specific investor profile.
"Port Stephens, with higher rates of investors and holiday accommodation, is also experiencing high demand for land for new residential development. Agents have stated that purchasers are looking for properties that can be knocked down due to the limited amount of new land available."
The price point which is most favoured within the Newcastle patch is the 30 to 40 age group of second home buyers and upsizers. This demographic is purchasing their next home within the price point of approximately $500,000 to $700,000 which will purchase the extra bedroom and second bathroom within the desirable 20 minutes of the Newcastle CBD.
Specifically it is the well performing suburbs of Hamilton, Mayfield, Lambton, Adamstown and Charlestown where capital growth for 2016 is between 5.3% and 10.5%.
There is a combination of factors as to why this price point and demographic is the most active, which also goes hand in hand with why the Newcastle property market is at peak levels. Investors are continuing to experience difficulty entering the market due to lending restrictions, even though there is confidence in property growth.
First home buyers are having very little success securing a property as the lower end of the market is also in high demand from the same 30 to 40 years age group of buyers who have the skills and experience to extend and renovate.
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Mixed price performances in Hunter, with Singleton still in decline: HTW

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Houses in Dubbo, the NSW Central Coast and Newcastle remain at the top of the latest property clock from analyst firm Herron Todd White.
All three locations were at the peak of the market cycle in September and remain so in October.
Sydney, Melbourne and Adelaide houses are in a rising market.
Gold Coast houses are approaching the peak of the market.
<a href="/images/2016/10/11/Screen%20Shot%202016-10-11%20at%2010.48.05%20AM.png" target="_blank">Click to enlarge</a>
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According to Herron Todd White the price point which most favoured within the Newcastle patch for the 30 to 40 age group of second home buyers and upsizers is between $500k - $700k.
"This demographic of families is purchasing their next home within the price point of approximately $500,000 to $700,000 which will purchase the extra bedroom and second bathroom within the desirable 20 minutes of the Newcastle CBD," HTW said.
"Specifically it is the well performing suburbs of Hamilton, Mayfield, Lambton, Adamstown and Charlestown where capital growth for 2016 is between 5.3 percent and 10.5 percent. 
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"There is a combination of factors as to why this price point and demographic is the most active, which also goes hand in hand with why the Newcastle property market is at peak levels.
"Investors are continuing to experience difficulty entering the market due to lending restrictions, even though there is con dence in property growth. First home buyers are having very little success securing a property as the lower end of the market is also in high demand from the same 30 to 40 years age group of buyers who have the skills and experience to extend and renovate."
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Dubbo, Newcastle and NSW Central Coast houses at market peak: HTW

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Newcastle East takes the top spot as Newcastle's 2016/2017 hotspot for investing in houses with an expected increase of five percent over the next 12 months.
The current median price at Newcastle East is $996,250, according to APM, in their forecast developed by APM senior economist, Dr Andrew Wilson.
<img src="/images/2016/09/23/4%20Beach%20Street.jpg" alt="">
An example would be a two bedroom house at <a href="https://www.domain.com.au/4-beach-street-newcastle-east-nsw-2300-2012954057" target="_blank">4 Beach Street</a> that was recently sold for $1,309,000, which is $312,750 more than the median price.
The Smart Investor magazine, published by Fairfax Media, ranked Clarence Town as second best hotspot along with Soldiers Point.
Suburb                  Postcode           Median price           12 month forecast
Newcastle East       2300                  $996,250                             5%
Clarence Town       2321                   $490,000                             4%
Soldiers Point         2317                  $695,000                            4%
Carey Bay              2283                  $435,000                            3%
Wickham               2293                  $525,000                            3%
Islington                2296                  $510,000                            3%
Tighes Hill              2297                  $560,000                            3%
Kilaben Bay            2283                  $600,000                            3%
Cooks Hill               2300                  $775,000                           3%
The Hill                   2300                 $930,000                            3%
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Newcastle East tops list of 2017 Newcastle property hotspots

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Corlette takes the equal top spot as Newcastle's 2016/2017 hotspot for investing in units with an expected increase of four percent over the next 12 months.
The median price at Corlette currently sits at $489,500, according to APM, in their forecast developed by APM senior economist, Dr Andrew Wilson.
<img src="/images/2016/09/22/812%20Yawl%20Close.jpg" alt="">
An example would be a three bedroom unit at <a href="https://www.realestate.com.au/sold/property-apartment-nsw-corlette-105903617" target="_blank">8/12 Yawl Close</a> (above) that was recently sold for $535,000, which is $45,500 more than the median price.
The Smart Investor magazine, published by Fairfax Media, ranked The Hill, Toronto and Cooks Hills as other likely best hotspots.
Suburb                  Postcode       Median price         12 month forecast
Corlette                 2315             $489,500                       4%
The Hill                 2300             $440,000                        4%
Toronto                 2283             $525,000                        4%
Newcastle East      2300              $1,080,000                     4%
Salamander Bay     2317             $402,500                        4%
Cooks Hill              2300             $550,000                        4%
Waratah               2298              $303,000                        4%
Wallsend               2287             $367,000                         3%
Newcastle West     2302              $467,000                        3%
Adamstown           2289              $376,250                        3%
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