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

Perth

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Western Australia’s two apartment sites at Claremont on the Park have seen Mirvac named as the chosen developer, looking to bring a minimum of 178 apartments to the area.
Lands Minister Terry Redman said that Mirvac had been chosen after a rigorous selection process.
The entire <a href="https://www.landcorp.com.au/Residential/Claremont-on-the-Park/%20" target="_blank">Claremont on the Park</a> development is a 9.4 hectare site north of the rail line, which will include residential, commercial and recreation space.
Mirvac had been shortlisted after a “really strong response” to the expressions of interest campaign, noted LandCorp general manager metropolitan Luke Willcock in February.
Now they have been announced as the chosen developer, above Pindan and Victorian-based developer Caydon Property Group, for the project.
The two apartment sites sit on lots 504 and 505, and look to provide housing for more than 350 people, with the entire development to house 1,000 people in 700 homes.
The site is walking distance to Claremont’s shopping precinct and the railway station, and is noted to have views of Claremont Oval at the centre of the project.
“LandCorp undertook a lengthy assessment process to ensure the developer of the two sites would deliver the best standard of medium density urban design as well as quality facilities and accommodation for future residents,” Redman said.
“Mirvac’s proposal delivered on the objectives for achieving a high quality architectural design and sustainable living which contribute to the Oval and streetscape activation.”
The plan for the area was decided in Western Australia’s Directions 2031 and Beyond, to assist in rejuvenating underutilised areas in already-established suburbs.
Civil works to service the sites had been expected to conclude in mid-2014. In December 2013, Stage 2 of site works commenced.
In July 2013 Georgiou Living were selected to develop the first apartment complex at Lot 503. They created <a href="https://thepocketclaremont.com.au/%20" target="_blank">‘The Pocket’ Claremont</a>, which commences construction in July and includes one-, two- and three-bedroom apartments from $485,000, and advertises the development by noting that “Claremont's median price increasing at an average annual rate of 8.1 per cent.”
At present, the median unit price in <a href="/news">Claremont is recorded at $660,000</a>, according to RP Data, achieving a median weekly advertised rent of $490.
Claremont Football Club have their ground and facility at the project.
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Mirvac to build Claremont on the Park’s 178 plus apartments

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A new development is about to see construction begin next month, with more than 80% of the 42 apartments purchased, with just a single one bedroom offering available for $457,500. The majority were sold within three months of the project’s launch.
A sell-out is expected prior to next month’s construction commencement.
The project will be at <a href="https://www.108bennettstreet.com.au/" target="_blank">108 Bennett Street</a>, East Perth, the corner of Bennett and Wellington Streets, which is opposite to Wellington Square.
One-bedroom units span 78 to 114 square metres.
Probuild will lead the construction for developer Ascot Capital Limited. Knight Frank is responsible for marketing.
Investors have apparently been playing a key part in the purchases, Knight Frank’s Melissa Brown explained.
Some two-bedroom apartments facing the park are available for $640,000 plus.
Within the development, each dwelling has a minimum of one undercover car bay.
“East Perth has long been a favourite with inner city residents due to its close proximity to the river, city and a vast array of transport options and lifestyle facilities,” Brown said, pointing to the expansion of the Crown Casino and six-star hotel, as well as a new sports stadium currently under construction.
“As a result it is attracting strong interest from buyers who are looking to secure an apartment in a growing and developing suburb who can see that the future of investing in the area is good.
“There has been a consistently strong rental demand from tenants, and East Perth has experienced solid capital growth over the years,” she said.
The development will include a roof-top terrace with barbecue area, and a ground floor commercial suite is available for $240,000, covering 33 square metres. There will also be a residents’ gym.
It appears apartment prices spanned  $390,000 to $754,000.
Completion is expected mid-to-late 2015.
<a href="/news">East Perth's median unit price is $610,000</a>, according to RP Data, with median weekly asking rent sitting at $590.
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Over 80% sold prior to construction, with sell out tipped for 108 Bennett Street, East Perth

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Chris Ellison, the Mosman Park WA mining millionaire, and his wife, Tia have spent another $6,625,000 to expand their $57.5 million Swan River luxury riverfront estate.
Ellison is the founder, major shareholder and the executive director of Mineral Resources.
The latest hillside double storey mansion purchase was also bought from Angela Bennett who secured the Australian record when the <a href="https://www.google.com/maps/@-32.01167,115.778936,3a,75y,90t/data=!3m5!1e2!3m3!1s8418817!2e1!3e10?hl=en-US" target="_blank">sprawling Mosman Park riverfront compound </a> sold.
The initial purchase had a reported 7,567 square metres of riverfront land and included three self-contained buildings, private jetty, boathouse, gym, <a href="/news/the-swan-river-mosman-park-home-cinema-in-australias-priciest-sold-residential-compound">cinema</a>, pool and tennis court. Property Observer notes the latest acquisition added 769 square metres.
<a href="https://www.google.com.au/maps/place/45+Saunders+St/@-32.014866,115.777457,3a,90y,41h,90t/data=!3m4!1e1!3m2!1sNxa9KA24GLEjX-Ao5bF24w!2e0!4m2!3m1!1s0x2a32a40a66661f49:0x1b300cd0145082dd!6m1!1e1" target="_blank">Google Streetview were there</a> when it was a hard rubbish day.
The iron ore heiress had bought the property, with home perched in similiar Mediterranean style above the main riverfront house, from the Sisters of St John of God for $400,000 in 1992.
At the time of his big purchase Chris Ellison's stake was worth about $300 million on his 2009 purchase.
Earlier this year, Ellison added another 65,000 shares to his personal holding, soon after the company sold its Christmas Creek ore processing facilities to Fortescue Metals Group.
Ellison had bought the shares for $701,035 to take his stake to 27,038,000 shares or 14.5% of the shares on issue. Mineral Resources shares were at the time trading at $10.79. The shares went onto its 12-month high of $12.74, now trading in the vicinity of $10.40.
 Picture courtesy of Google Maps.
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jchancellor-FAypfDUnLy

Perth's $57.5 million home compound on the Swan River gets even bigger

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Billionaire Ralph Sarich has listed a redundant, unrenovated Mosman Park riverfront property.
It cost $1.05 million in 1994. 
A reported $11 million is tipped for 31 Saunders Street, one of Perth’s most exclusive private addresses, although Property Observer notes $14 million initial hopes on its late 2013 listing.
The 2008 square metre holding comes with a 1950s home.
<a href="https://www.realestate.com.au/property-residential+land-wa-mosman+park-200721223" target="_blank">I</a>t is listed through <a href="https://www.realestate.com.au/property-residential+land-wa-mosman+park-200721223" target="_blank">estate agent William Porteous</a>.
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Billionaire Ralph Sarich lists Mosman Park, Perth riverfront

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Rents in metropolitan Perth dropped further in recent months, down by $10 per week this year following a $10 drop towards the end of last year. The median rent is now $450 per week across city suburbs.
REIWA data shows this typically breaks down to around $460 per week for a house and $440 for a unit or apartment.
Our data also shows the vacancy rate across Perth remains high at around 4%, due largely to the economic and population slow down. It has also been boosted by many tenants having left the rental system to buy a home of their own.
The long term equilibrium for vacancy rate across Perth is 3%, so the current rate is around one third higher than it might ideally be.
Our figures show there are around 5,000 metropolitan rental properties on the market which is 56% more than the same time last year.
As the number of rental properties swell and overall rents come down, the number of people breaking their lease to find a different property has jumped significantly.
The changed conditions mean that some people are breaking leases to move into a more affordable dwelling, a larger premises or maybe a home in a much better location to suit their needs.
These outcomes are understandable and REIWA property managers are experiencing a significant increase in the number of enquiries from both tenants and property owners asking about the costs involved in breaking a lease.
Tenants need to understand that a lease is essentially a contract between two parties and leaving the premises before the agreed termination date is a breach of that contract.
Under the Residential Tenancies Act, the property owner is entitled to be ‘no worse off’ as a result of any breach by the tenant. As such, they can claim from the tenant any costs, such as rent until the premises are re-let or the original period expires, the charges for advertising for a new tenant and any unused portion of the letting fee.
These claims could add up to several thousand dollars billed against the outgoing tenant, particularly if the premises they vacate takes a while to secure a new tenant. This can be devastating to someone who has broken their lease, started renting a new property and is now effectively paying rent on two places, one of which is empty.
It’s very important therefore, that if a tenant is thinking of breaking their lease for whatever reason, that they talk to the property manager about the potential costs so they can make a considered decision about timing and budget.
This article was originally published on <a href="https://reiwa.com.au/Faq/Pages/Feature.aspx" target="_parent">reiwa.com</a>.
Image courtesy of <a href="https://www.seniorliving.org/" rel="nofollow" data-rapid_p="22">SeniorLiving.Org</a>/<a href="https://creativecommons.org/licenses/by-sa/2.0/" target="_blank">Creative Commons</a>.
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Don’t break your bank by breaking your lease

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Shell Australia have extended their lease by another 5,487 square metres at KS2, Kings Square, Perth, bringing their total leasing arrangement to 19,300 square metres of space, according to Leighton Properties and DEXUS Property Group. This covers the entire building.
The second office tower in masterplanned Kings Square Precinct, KS2 now has Shell across 11 floors of the building. The precinct is under construction in the $5.2 billion Perth City Link development, and is said to be one of the most significant commercial and retail projects nationally.
Leighton Properties national head of commercial Andrew Borger said that there is increasing confidence within the resources sector.
“We now have 100 per cent of the commercial space leased at KS2 - and with this we will see an increased occupancy at Kings Square and enormous flow on benefits for the precinct, particularly for its retail,” said Borger.
Shell Australia general manager – production Michael Schoch said that this move to Kings Square to occupy the entire KS2 building provides the flexibility required for growth and staff facilities.
“With our staff numbers doubling to 1,000 in support of Prelude FLNG, this investment in our new corporate headquarters reflects our commitment to Western Australia and Australia,” Schoch said.
Towers KS1, KS2 and KS3 are jointly owned, 50/50, by DEXUS Property Group and DEXUS Wholesale Property Fund. In total, the towers cover 52,033 square metres of office and retail.
DEXUS executive general manager, office and industrial Kevin George said that the total commitment across all three towers is now 55%.
“This is further evidence that quality, affordable stock is in demand in the Perth CBD and we expect to see continued interest from other potential high calibre tenants in the Kings Square precinct,” said George.
The precinct will include a childcare centre, 24 hour gym, retail and restaurants. The first four towers are currently being built, gearing up for a mid-2015 completion date.
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Shell Australia expands floor space in Perth’s KS2

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An off the market sale from Barney Dear of Ray White Commercial Perth saw a warehouse/showroom snapped up in the industrial suburb of Bayswater for $875,000.
At 10 Durham Street, Bayswater, the warehouse is 565 square metres, made of brick and concrete panel, on 1,214 square metres of land.
“We were engaged to sell the property in April of this year. Prior to taking the property to the market we identified a number of possible buyers on our database and notified them that we were listing the property for sale," said Dear.
“Following an inspection with one of the buyers, an offer was received and after a period of negotiation was accepted by the owners."
The sale occurred within five days of the property being listed for sale and saw the contract go unconditional a week later.
It will settle in July - the seller's preference.
Interested parties can look to lease the warehouse from early-July 2014, for $60,000 per annum plus GST and outgoings.
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Perth warehouse/showroom snapped up for $875,000

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The former contestant on The Voice Emma Birdsall performed at the launch of the newly refurbished Rendezvous Grand Scarborough last week.
The beachfront hotel, which sees around 20,000 guests each year has undergone a multi-million refurbishment. It was relaunched in a ribbon cutting ceremony by Premier Colin Barnett, with Far East Orchard chief executive Lucas Chow, group managing director of Toga Group Allan Vidor, Far East Hospitality chief executive Arthur Kiong and Toga Far East Hotels chief executive Rachel Argaman.
The hotel has hosted a variety of celebrities over its life, including Bono, Kylie Minogue, Tina Turner, Robbie Williams and Pearl Jam.
At the relaunch, The Voice’s Emma Birdsall was accompanied by a piano once played by Michael Jackson. The celebrations also featured a 1.5 metre high chocolate sculpture by Sisko Chocolate’s Christina Tantsis and celebrity chef Ian Burch of Melbourne’s Burch &amp; Purchese. French and Spanish couvuture chocolate was moulded to make a coastal inspired sculpture.
It was a fitting tribute to the Rendezvous Grand Scarborough, which has oceanfront event spaces. The 24th floor observation deck and suites have views over 32 kilometres of Perth’s coastline. The 300 capacity Mentelle room offers a view across the Indian Ocean thanks to floor to ceiling windows and an adjoining deck.
<img src="/images/2014/05/26/Rend%20Grand%20Hotel%20Perth%20Scarborough%20-Balcony%20view%205.jpg" alt="">
Toga Far East's Rachel Argaman said the group was "delighted to have been able to showcase our newly renovated hotel alongside WA’s food and wine, recognised as some of the best in the world".
"The relaunch of the hotel alongside the redevelopment of the Esplanade’s frontage will help to re-establish Scarborough as a vibrant destination for visitors and locals alike.”
Architects Tema International designed all 336 rooms and suites of the hotel, as well as a new club lounge on the 25th floor. The hotel has also added two new dining venues, the Straits Café and the Lobby Bar.
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Rendezvous Grand Scarborough launches with help from The Voice's Emma Birdsall

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Brookfield Place Perth was named the Australian Development of the Year at the Property Council Australia/Rider Levett Bucknall Innovation and Excellence awards last weekend.
The 45 storey office development also took home the SAS International Award for Best Office Development and S4B Studio Award for Best Heritage Development. Positioned in the centre of the Perth CBD, the development has about 74,500 square metres of premium grade commercial space, making it one of the country’s largest commercial office buildings.
Fitzpatrick + Partners in collaboration with Hassell Architects designed the project, which includes the refurbishment of five heritage buildings containing offices, restaurants, bars and fashion retailers. Construction of the development’s second tower is currently underway.
Other big winners at the gala dinner in Sydney on Saturday included the Glen Eira Sports and Aquatic Centre, which received two awards. The $46.6 million Victorian recreation centre was awarded the Best Tourism and Leisure development by Ryan, while the City of Glen Eira took home the ISPT award for Government Leadership.
Meriton’s Soleil apartments won the Gough Recruitment Award for Best Residential Development. Another Brisbane development by Harry Triguboff's Meriton, the Infinity tower, was<a href="/expert-insights/buying/harry-triguboff-s-tallest-brisbane-creation-wins-best-high-rise-award"> recently named Australia’s best highrise development</a> at the Asia Pacific Property Awards.
The winners of this year’s Property Council of Australia/Rider Levett Bucknall Innovation &amp; Excellence awards were drawn from 83 finalists across 16 categories.
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Brookfield Place Perth takes out top prize at Property Council of Australia awards

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The headquarters of one of WA’s oldest and most successful advertising agencies has hit the sales block.
The Marketforce building, at 1314 Hay Street in West Perth, is fully leased by the advertising agency until 2019 with further options. It returns a net income of more than $650,000 per annum.
The three storey building is being sold through Knight Frank.
Knight Frank director Tony Delich said: “This property offers significant upside in terms of both rental growth and future development options.”
“The current net rent is below $300 per square metre and has fixed annual increases for the term of the lease."
“From a redevelopment perspective the site is 1250 square metres with a plot ratio of 2:1 but this could be increased to 3:1 for residential and given an additional 20% bonus for short term accommodation.”
The building has close to 1,900 square metres of fully refurbished net lettable space and 37 undercover car bays, plus three open bays.
Offers to purchase close on May 22.
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