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

Joel Robinson

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

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

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

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

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

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

Bottega House secures landmark riverfront site in St Lucia 

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

SIERA kicks off construction at Northcliffe tower Exhale

North Melbourne

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Given that Inner North suburbs of Melbourne tend to comprise older dwellings, at least relative to the outer north, it is within these suburbs – including Coburg, Reservoir and out to Greensborough and Bundoora that most likely to see homes undergoing renovations, according to the latest Herron Todd White (HTW) residential report. 
The valuation firm suggest in locations across the nation, the downtime delivered by isolation has spurned on owners looking to improve their assets through maintenance and upgrade. This month’s HTW report highlights where renovations are on the rise and the price points and outcomes those markets can expect.
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Older homes, often held in families for many years and kept in their original state will often undergo impressive modifications and upgrades once sold to owner occupiers looking to make their homes larger, modern, comfortable and better suited to modern life. 
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The report suggests renovators can often expect to see healthy capital growth as a result of these renovations bringing these properties up to meet the expectations of potential purchasers for these areas.
There are a number of areas in the Inner North where ‘pop up’ rear extensions to existing heritage facades are becoming more commonplace as a means of meeting the requirements of heritage protections. 
"We have seen numerous examples of these, where older homes with small and enclosed living areas have been opened up, increasing natural light and utilizing spaces in a more functional way," the valuation firm said. 
"In recent months as a result of the Coronavirus pandemic, we have noted that the occurrence of larger renovations and extensions has reduced, bucking the trend of the past several years where renovations have been commonplace, particularly as a result of gentrification in many areas and a large number of homes constructed in the 1980’s becoming more obvious candidates for modernisation," the valuation firm said. 
Prime examples of this can be seen in Reservoir and Montmorency where homes with renovation potential can be purchased for between $700,000 and $850,000 and $800,000 to$900,000 respectively, the reported noted. 
"Once fully renovated, we are seeing homes in Reservoir achieve $1.1 million to $1.3 million and Montmorency, $1.1 million to $1.4 million," the valuation firm said. 
A three bedroom Clinker Brick Veneer house in Reservoir has recently been sold for $1.07 million.
The <a href="https://www.realestate.com.au/sold/property-house-vic-reservoir-133019962" target="_blank">31 Rubicon Street </a>home (pictured below) has been renovated and extended. 
It comes with open plan living, light-filled family room and decked entertainment area. 
It was last sold in 2007 for $476,000. 
<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/2020/6/15/reservoir%201.jpg" alt="">
A current listing is an updated four bedroom house in Montmorency priced at $1.05 million to $1.15 million.
The<a href="https://www.realestate.com.au/property-house-vic-montmorency-133636602" target="_blank"> 3 Reichelt Avenue</a> home (pictured below) comprises two living zones, two updated bathrooms and study. 
It's situated within walking distance to schools, shops and cafes. 
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Investors in the outer north suburbs, looking to attract tenants or sell are more likely to carry out more modest or cosmetic renovations for ‘easy wins’, partly as a result of homes in these areas being much younger, with layouts not differing too much from new homes being constructed today.
The report notes minor renovations in these areas will tend to be limited to painting, replacing floor coverings, and perhaps a new kitchen, bathroom or deck.
"Moving forward, we expect that the prevalence of major renovations will continue to remain in parity with the economy and if this continues to deteriorate, then it is reasonable to expect that renovators will become less willing to spend big," the valuation firm said. 
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North Melbourne major renovations in decline: HTW residential 

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Changes in both monetary and fiscal policy tend to have a more direct impact on the property market in suburbs located in the outer north Melbourne as purchasers in these areas are predominantly first home buyers and local investors, according to a recent Herron Todd White (HTW) residential report. 
The current COVID-19 epidemic is going to have a negative impact on key drivers, so it will be interesting to see what impact this may have on the property market in the short to medium term, the valuation firm said.
The HTW report notes most of these purchases are strongly influenced by either changes in first home buyer grants or interest rate changes.
"Some of the local drivers for the outer northern property market include the availability of more affordable housing and recent infrastructure expenditure", the valuation firm said. 
The commencement of the northern roads upgrade is a notable example of this and has helped to ease congestion in the area, improving buyer sentiment and proving to be a key local driver for demand.
Recent relaxation of lending since the banking Royal Commission has resulted in young families and first home buyers looking at more affordable dwellings that the outer north offers, the report noted. 
The effect of this appears to have aided in maintaining demand for property in the area as prospective purchasers begin to extend their search further north.
The report suggests new migrants to Melbourne opting to settle in the outer north also make up a significant portion of first home buyers.
"Properties below the $600,000 price point appear to do well in the outer north market as there is high demand from first home buyers and investors. High specification dwellings in predominantly first home buyer suburbs tend to remain on the market longer than average and are less sought after," the valuation firm said. 
A three bedroom house in Lalor has recently been sold for $590,000.
The <a href="https://www.realestate.com.au/sold/property-house-vic-lalor-133406954" target="_blank">26 Vanessa Avenue</a> house (pictured below) comes with modern kitchen, open plan lounge, renovated bathroom and double garage. 
It's located close to train station, buses, schools and shopping. 
<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/2020/5/11/lalor%20.jpg" alt="">
A current listing is a Bundoora two bedroom unit priced at $487,000 to $535,000.
The <a href="https://www.realestate.com.au/property-unit-vic-bundoora-133481222" target="_blank">1/52 Nickson Street unit</a> (pictured below) features large lounge, spacious kitchen, separate laundry, courtyard, and garden shed.
The home is situated within close proximity to  the Square, park, tram, universities and hospital.
<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/2020/5/11/bundoora.jpg" alt="">
<div>Note regards COVID-19</div>
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This edition of Month In Review had its topic defined in late February with submissions from our offices collated through to late March. During this period, shifts in the social and economic landscape due to COVID-19 became increasingly dramatic, as demonstrated by the varied information provided by offices over the course of three weeks. 
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<div>This month’s residential theme on baseline property market drivers remains a common thread, and provides an indication of what influences to monitor as the property sector recovers post-crisis.</div>
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Northern Melbourne sees high demand from first home buyers and investors: HTW residential 

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The property market has shone in the past seven years showing extraordinary growth in property prices in the northern suburbs of Melbourne, according to the latest Herron Todd White (HTW) residential report. 
The report notes last year’s property market results ended on a high note as we saw the fastest turnaround in history, with improving prices and clearance rates leading into the new year of 2020.
With property values rising, sellers are expected to cautiously return to the market, increasing stock levels.
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"So, what do we know moving forward into 2020? We can be assured that the Reserve Bank’s main focus will be to decrease unemployment rates and to increase wages, which will likely result in interest rates falling further throughout the year, making it even more affordable to enter the market," the valuation firm said. 
This trend could see an upside in developing areas such as Craigieburn, Kalkallo and Mickleham, which may prove to be the only truly affordable option for the inner and outer northern suburbs.
"By offering properties at affordable prices, these areas may still be the choice for migrating families moving to Melbourne or country Victorians wanting to move closer to Melbourne," the valuation firm said. 
A Craigieburn three bedroom house has been sold for $570,000.
The three bedroom, two bathroom home is situated at <a href="https://www.realestate.com.au/sold/property-house-vic-craigieburn-132823606" target="_blank">32 Newlyn Drive </a>(pictured below).
Set on 650sqm, the home comes with well-appointed kitchen, meals area, and pergola overlooking backyard. 
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Areas in the desirable suburbs of the inner north such as Abbotsford, Carlton and Richmond should expect to see moderate to low stock on the market.
The report notes blue chip properties that tick all the boxes will continue to perform in 2020.
"Low vacancy rates will also be evident in these areas with vacant dwellings being snapped up either by investors or renters," the valuation firm said. 
A Richmond Victorian house has recently been sold for $1.67 million. 
The three bedroom, one bathroom home is situated at <a href="https://www.realestate.com.au/sold/property-house-vic-richmond-132848686" target="_blank">10 Moorhouse Street</a> (pictured below). 
It comes with open plan living, north facing courtyard and spacious kitchen. 
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Desirable Melbourne inner north suburbs to see low vacancy rates in 2020: HTW residential 

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When looking at eye candy property in Melbourne, it’s hard to look past the suburb of Toorak, according to the latest Herron Todd White (HTW) residential report. 
The report notes the typical buyer in this region is not only buying a designer home but purchasing a lifestyle, with the majority of these larger homes including added luxuries such as a movie cinema, wine cellar, indoor gym, tennis court and pool.
"The suburb is also home to one of Australia’s most expensive buildings, located at 39 St George’s Road, which is rumoured to have cost up to $70 million in construction alone," the valuation firm said. 
Looking at recent sales in the suburb, 26 Linlithgow Road (pictured below), a five-bedroom, four-bathroom, four-car space mansion in Toorak sold for $12.15 million.
This luxury home is sprawled over 1,308 square metres of land and is fitted out from top to bottom with high-end features.
It includes a cinema room, wine cellar, home gym, tennis court and outdoor pool.
<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/2019/11/20/toorak%202.jpg" alt=""> 
<a href="https://www.realestate.com.au/sold/property-house-vic-toorak-131083926" target="_blank">2 Chastleton Avenue in Toorak </a>(pictured below) sold for $13.4 million on 18 June 2019.
This property features five bedrooms, six bathrooms and an underground six-car garage.
Sprawled over 657 square metres in the heart of Toorak, the property features high-end finishes and fixtures whilst only a stone’s throw away from the Toorak Village, Como Park and the Yarra River.
Currently listed on the market at a cool $25 million is the sub-penthouse at Capitol Grand on Chapel Street, South Yarra.
<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/2019/11/20/toorak%203.jpg" alt="">
"This home in the sky combines breathtaking views with unparalleled luxury," the valuation firm commented. 
"The three-bedroom, three-bathroom, eight-car garage apartment includes 512 square metres of living pace, floor to ceiling windows, European finishes and several other amenities including a cinema, massage room, indoor gym, sauna, pool, spa and 24/7 concierge.
"Although the property hasn’t sold, it's one of the most extravagant listings on the market," the valuation firm said.
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Lifestyle appeals to typical Toorak designer home buyers: HTW residential 

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The inner and outer northern suburbs of Melbourne offer investors a variety of investment options from units to houses, each offering their own benefits, according to the latest Herron Todd White (HTW) residential report. 
The valuation firm took a look at rental yields across the nation. 
The report suggests the vast variety of property types in the area accommodates all types of investors, including people seeking to maximise potential yield and those looking at minimizing capital requirements.
"Honing in on Richmond, a popular inner eastern suburb due to its location and bustling lifestyle, it becomes apparent the suburb does offer opportunities for investment, however it does come with several barriers to entry," the valuation firm said. 
With a median price of $1.177 million for a house and a weekly median advertised rent of $678, the suburb’s major barrier of entry for investment is the requirement of significant amounts of capital to purchase.
It is noteworthy that this large sum only typically secures investors a two- bedroom, one-bathroom, no car park townhouse.
Multiplying the median rent per week by 52 results in a total rental income of $35,256.
Dividing this figure by the median rental price then results in a rental yield in the suburb of Richmond of 2.99% for dwellings.
"In contrast to the outer north, Mickleham requires significantly less up front capital for a greater return," the valuation firm said. 
The median price in Mickleham is $505,000 for a home, with a weekly median advertised rent of $410.
Using the yield calculation method, an investor would generate an annual rental income of $21,320 resulting in an annual yield of 4.22%.
"This yield is 40% greater than the suburb of Richmond, whilst also offering a significantly larger home (four bedrooms, two bathrooms, two car parking spaces)," the valuation firm added. 
"Higher yields in the outer suburbs such as Mickleham are attracting young investors who have less capital to invest.
"These higher yields are also giving them more security when it comes to mortgage repayments."
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Young investors attracted by high yields in the outer northern Melbourne: HTW residential 

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Prices have declined for both the inner and outer north of Melbourne, according to the latest Herron Todd White (HTW) residential report. 
"In our February edition of the Month in Review, we stated that inner northern suburbs would be the hardest hit with declining property prices whereas the outer north would plateau," the valuation firm said. 
Economists agreed, stating that property prices for the north- east and north-west were set to decline (as shown below).
<a href="https://www.propertyobserver.com.au/images/2019/6/27/s%20wright%202019.jpg" target="_blank">Click here</a> to enlarge: 
<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/2019/6/27/s%20wright%202019.jpg" alt="">
The report notes that the outer northern suburbs of Craigieburn, Mickleham and Kalkallo reached their peak property prices in early to mid-2018 and have slowly been declining ever since.
Craigieburn’s urban sprawl previously known as providing a good return on investment for off the plan purchase of land is now being reversed.
A 448 square metre block of land back in early 2018 would be sold for $400,000 however now in mid- 2019 the same product would sell for $340,000 to $350,000.
"Purchasing this land off the plan in 2016 and selling in 2018 would provide a solid $70,000 to $100,000 capital gain, whereas purchasing more recently in late 2017 to early 2018, the land would be lucky to break even and is expected to sell at a loss," the report said. 
"The oversupply of land releases alongside the lack of land purchases due to tightened lending criteria has been the main charge behind the drop in land value."
Melbourne’s inner northern suburbs, for example Carlton, Collingwood, Brunswick and Northcote, have also been hit hard by declining property prices.
An example was a three bedroom house located in the heart of Brunswick which has recently been sold for $920,000.
Situated<a href="https://www.realestate.com.au/sold/property-house-vic-brunswick-129727078" target="_blank"> 5 Hanover Street</a> (pictured below), it comprises three bedrooms, kitchen, separate lounge area, and large pergola area. 
It was sold at $985,000 in 2016. 
<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/2019/6/27/brunswick%20.jpg" alt="">
Median prices have fallen $30,000 to $50,000 for these suburbs since the start of 2019 and are projected to decline further according to REIV. 
Properties holding their prices are A grade, sizeable family oriented homes that have a prime position, superior floor plans and are in prime or renovated condition.
Secondary properties that do not have these qualities are struggling to sell and are seeing extended time on the market compared to 2018.
"There is an evident stock decrease for these suburbs which is contributing to the price decline," the valuation firm said. 
In the week of 23 March 2019, there were 674 auctions listed compared to 1,783 for the same week in 2018, according to Digital Finance Analytics data.
With stock levels being low and bank lending criteria tightened, home owners are choosing to stay in their current dwellings and choosing to renovate rather than risk attempting to upgrade to a superior property for which they may not get their finance approved by the bank.
According to the HTW report, Pascoe Vale has had the most surprising turn since the start of 2019.
"For a market that has been developer driven for the past two years, it now has completely reversed," it said. 
"Multiple permits granted for three-to-six townhouse developments are unable to proceed as developers struggle for finance."
A prime example is<a href="https://www.realestate.com.au/property-house-vic-pascoe+vale-129695610" target="_blank"> 40 Austin Crescent, Pascoe Vale</a> (pictured below). 
Comprising a four-townhouse development with approved permits, it has been on the market for 203 days with little interest due to the inherent risk of finance availability.
<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/2019/6/26/pascoe%20vale.jpg" alt="">
"Pascoe Vale has been development shy this year and if lenders do not reduce their strict criteria, townhouse developments in Pascoe Vale may be very limited going forward."
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Northern Melbourne property prices remain in decline: HTW residential 

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The Mernda Junction Shopping Centre in Melbourne's Northern growth corridor has been launched.
The Coles anchored shopping centre has its latest full line 4,000 sqm supermarket, which also features Liquorland and about 20 specialty retail stores.
The centre is serviced by more than 300 car parks.  
Colliers International’s Mike Crittenden and Stephanie Siadis have secured 17 tenants for the 7,000 sqm centre, with only three tenancies remaining for food &amp; beverage and service operators.  
Coles and Liquorland are joined by a wide range of retailers including Australia’s largest pharmacy retailer, Chemist Warehouse, along with Fruitful Veg Market, Billy’s Junction, Degani, Scotch &amp; Fillet, Rainbow Nails, Peoples Choice Home Loans, Mernda Kebab House, Mernda Smiles, Medical, 7 Star Pizza Pasta &amp; Grill, Kings Landing Barber, Cups n Cones and Tattslotto.  
“Located approximately 30km north of Melbourne's CBD in the City of Whittlesea, Mernda Junction Shopping Centre provides convenient shopping to the surrounding catchment of over 40,000 people,”  Mr Crittenden said.  
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A spokesman for Mernda Junction Shopping Centre said, “we are excited to launch a fantastic new neighbourhood shopping centre in the heart of Mernda at the junction of Bridge Inn and Plenty Roads. ”  
Planning for Stage 2 of Mernda Junction Shopping Centre are now underway, which will further add to the mix of uses and the vitality of the community.
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Mernda Junction Shopping Centre launched in North Melbourne

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Mason Developments and Red Earth Developments have teamed up with Chamberlain Architects to deliver Leveson Place, a series of industrial-inspired townhomes, now under construction in the heart of North Melbourne. 

Comprising 10 three-storey residences, these two, three &amp; four bedroom townhouses provide a contemporary take on North Melbourne’s industrial vernacular through the use of red brick, timber panelling and black steel.

<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/levesonplace2_render_2.jpg" rel="gallery-all"><img alt="" class="image-article-full-width-580px" height="305" src="/sites/urban.melbourne/files//styles/article_full_width_580px/public/pictures/article-images/levesonplace2_render_2.jpg?itok=3_4UZIdF" width="580"></a></figure>Leveson Place represents the third collaboration between Mason Developments and Red Earth Developments in North Melbourne, developed through a unified vision and capitalising on 30 years of combined development experience. 

Chamberlain Architects were engaged due to a strong focus on design and interest in meaningful collaboration with clients and builders. The practice brings a passion for materiality and the craft of architecture to Leveson Place, building on its reputation for detailing and the fine resolution of its designs.

Chamberlain Architects have conceived Leveson Place as a highly functional and visually appealing development, drawing inspiration from the industrial character of brick warehouses and saw-toothed roofs which are prevalent.

Featuring a robust palette of plywood, terrazzo tile and rustic Australian native timber, the townhomes have been designed to be bright and spacious with living areas flowing seamlessly from kitchen to balcony. 

<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/levesonplace2_carousel_2.jpg" rel="gallery-all"><img alt="" class="image-article-full-width-580px" height="527" src="/sites/urban.melbourne/files//styles/article_full_width_580px/public/pictures/article-images/levesonplace2_carousel_2.jpg?itok=vd8pzUBo" width="580"></a></figure>According to the project team, this level of design consideration and attention to detail will set a new standard for urban village living in North Melbourne, placing Leveson Place at the forefront of the revival of the double-fronted terrace home.

Set in Leveson Street Village and within an area that has seen strong development activity in recent years, Leveson Place is conveniently located just a short stroll away from Errol Street and its abundance of cafes, restaurants and other amenities.

When it comes to public transport Leveson Place is well served by trams which provide quick and direct access to Queen Victoria Market and the Melbourne CBD, while the new North Melbourne Station, currently under construction as part of the Melbourne Metro Tunnel project will be located just minutes away.

<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/northmelbourne_laurenstreet_1024x576_0.jpg" rel="gallery-all" title="Concept image of North Melbourne Station. Image: Metro Tunnel"><img alt="" class="image-article-full-width-580px" height="326" src="/sites/urban.melbourne/files//styles/article_full_width_580px/public/pictures/article-images/northmelbourne_laurenstreet_1024x576_0.jpg?itok=M9f3y04t" title="Concept image of North Melbourne Station. Image: Metro Tunnel" width="580"></a>

<figcaption>Concept image of North Melbourne Station. Image: Metro Tunnel</figcaption></figure>
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urban.com.au

Leveson Place draws on North Melbourne's industrial character

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One of the Haymarket precinct’s last freestanding buildings is coming to market in North Melbourne.
Located at 87-89 Flemington Road, North Melbourne the two-level building sits on 510 sqm of land and is squeezed between 4 12-storey apartment buildings.
The building, opposite the University of Melbourne and the Royal Melbourne Hospital is being offered for sale with an approved permit for a 12-level residential development. 
Colliers International’s David Sia, Oliver Hay, Hamish Burgess and Dave Walker have been appointed to handle the transaction.   
The vendor of the property, Topsun Development, originally purchased the property as a premium residential development opportunity.
Situated metres from the upcoming $11 billion Metro Rail Project and the subsequent Parkville Train Station the property is set to benefit. 
Expressions of interest for 87-89 Flemington Road, North Melbourne close December 5.
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Topsun seek to offload one of Haymarket precinct’s last freestanding buildings 

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A 7-Eleven service station in North Melbourne has been listed for sale.
The freestanding station at <a href="https://www.realcommercial.com.au/property-retail-vic-north+melbourne-503011626" target="_blank">163-173 Boundary Road</a> is the last stop before the CityLink and sees 50,000 cars pass per day.
Recently rezoned to a commercial 1 zoned land holding, the property on 1,155 sqm has a rare 15 year lease through to 2027.
<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/2018/11/12/serv1.jpg" alt="">
It has options to 2042 and has a net income of $183,049 per annum, with fixed four percent annual rental increases.
The marketing through CBRE advises there is potential for further income through a signage billboard, subject to approval.
It has a November 29 auction.  
 
 
 
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