Queensland builder-developer MAYD has revealed the first look at its major North Kirra beachfront development, lodging amended plans that reduce the number of apartments and increase the proportion of larger residences.

The project is planned across a substantial 4,742 sqm amalgamated site spanning seven lots at <a href="https://www.apartments.com.au/new-apartments/2-6-pacific-parade-bilinga-qld-4225">2-6 Pacific Parade</a> and 27-33 Golden Four Drive in Bilin​ga, directly opposite Nor​th Kirra Beach.

<a href="https://www.apartments.com.au/developers/mayd-group">MAYD</a> secured the site for $32.5 million in 2025, in what was one of the Gold Coast's largest property transactions of the year.

The development will be delivered across two stages, with the first stage carrying an estimated gross realisation value of around $360 million.

The latest amendments seek to reduce the overall apartment count and shift the project further toward the owner-occupier market, with larger residences designed for buyers wanting considerably more space than traditionally offered in a beachfront apartment.

The residential mix will include townhomes, oversized two-bedroom apartments, substantial three-bedroom residences and four-bedroom homes.

MAYD has appointed Cera Stribley to lead the architecture and interiors, with the Melbourne-based design practice drawing on the beachfront setting through a series of ocean-facing terraces and heavily landscaped balconies.

Strong horizontal forms and curved balconies will define the exterior, with subtropical landscaping integrated throughout the building to soften the built form and increase the connection between the residences and the beachfront.

The project will also include an extensive collection of resident wellness and lifestyle facilities, continuing the broader shift across the Gold Coast's luxury apartment market toward larger homes supported by resort-style amenity.

<img alt="MAYD" data-entity-type="file" data-entity-uuid="d1bcbb05-e659-4b47-8bd4-1e595315e2ad" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-27%20at%202.05.03%E2%80%AFPM.png?VersionId=jj0XEud1X1DuLt7_KyElhjMdZGOXmLHP" />

MAYD Founder Todd Mould said North Kirra was increasingly appealing to buyers attracted to the more established, lower-density character of the southern Gold Coast.

"North Kirra presents one of the most compelling luxury residential opportunities currently emerging in Australia, combining absolute beachfront with the character and authenticity that buyers are increasingly seeking, and the same sense of tight-knit community that defined Burleigh and Currumbin perhaps 10 or 15 years ago," Mould said.

"With Gold Coast Airport on its doorstep, it also offers a level of accessibility that broadens its appeal across almost every market demographic."

The project comes as the southern Gold Coast continues to attract an increasing share of high-end apartment development and buyer activity.

Kirra in particular has emerged as one of the region's more tightly held beachfront markets, with its relatively low-density character, established surf and hospitality scene and proximity to Gold Coast Airport differentiating it from the higher-density markets further north.

Mould said those characteristics had informed the approach MAYD and Cera Stribley had taken to the project.

"We've worked closely with Cera Stribley to create a vision that is deeply connected to its surroundings," he said.

"Inspired by the coastline itself, the architecture has been shaped around space, privacy and resort-style living, creating a collection of homes that reflects the next generation of luxury on the southern Gold Coast."

MOTIV Managing Director Carly Cottam, who has been appointed to market the project, said buyer attention had continued to move south along the Gold Coast.

"Purchasers who may once have defaulted to Broadbeach, Main Beach or Surfers Paradise are increasingly recognising the value of a genuine beachfront location that offers lower density, strong amenity and a more established sense of community," Cottam said.

"Kirra has a powerful combination of growing demand and genuine scarcity. Beachfront supply is inherently constrained, the area remains relatively low density, and buyers are increasingly placing a premium on locations that feel established, uncrowded and authentic rather than heavily developed."

Cottam said the proximity to Gold Coast Airport was also proving increasingly important for interstate and second-home buyers.

"Being minutes from Gold Coast Airport makes it particularly compelling for interstate buyers, frequent travellers and second-home purchasers who can access an authentic coastal lifestyle almost immediately after stepping off a flight."

The acquisition takes MAYD's active development portfolio to more than $500 million, with the North Kirra project representing one of its largest undertakings to date.

MAYD is targeting an early 2027 launch.

Joel Robinson

First look at MAYD's North Kirra mixed-use precinct

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Castle Hill, the longtime hub of the Hills District, has been one of the major beneficiaries of Sydney's Metro expansion, with improved connectivity helping drive continued population growth, development and buyer demand across the Hills District.

But despite that growth, the suburb has seen relatively few major new apartment projects brought to market over the past 18 months.

Hills District developer Reve Group is looking to fill that gap with <a href="https://www.apartments.com.au/new-apartments/nova-r-ve-castle-hill-2-garthowen-crescent-castle-hill-nsw-2154">Nova Rêve</a>, a major new mixed-use precinct on the corner of Garthowen Crescent and Old Castle Hill Road, a short walk from Castle Hill Metro Station and Castle Towers.

[smartcode_project:default project_id=152737 project_image_fid=377679]

The project will comprise three residential towers alongside a hotel, restaurants, cafes and a skybar, more than 1,600 sqm of ground-floor retail and almost an acre of landscaped gardens.

It represents the largest project undertaken by Reve Group, the development arm of the Kassis family, which has been building across the Hills District for more than 30 years through Kassis Homes.

[smartcode_project:default project_id=152737 project_image_fid=377675]

Nova Rêve also represents a significant step up from the family's first apartment development, Grand Rêve, which was delivered nearby on Garthowen Crescent.

Grand Rêve introduced larger, house-like apartment layouts and premium inclusions including Wolf and Sub-Zero appliances to the Castle Hill market.

Nova Rêve takes that approach to a precinct scale, combining the residential component with hospitality, retail and substantial public and resident landscaping.

[smartcode_project:default project_id=152737 project_image_fid=377685]

Reve Group Managing Director Sam Kassis said the project reflected the family's three decades of building in the Hills, which has evolved from trophy homes on quarter-acre blocks to larger-scale apartment development.

"Grand Rêve was our first apartment project here and it showed us what this pocket of Castle Hill could be. Nova Rêve is the refinement of that idea: not just apartments, but a place the whole suburb can use," Kassis said.

A key part of that approach is the hotel, which has been designed to operate as an amenity for the wider Castle Hill community rather than solely hotel guests.

It will include restaurants, cafes, skybars and all-day dining, alongside conference and event facilities catering to business functions, community groups and private events.

At ground level, more than 1,600 sqm of shops and cafes will open onto the surrounding streets and landscaped areas.

Almost an acre of gardens designed by Land and Form Studios will run through the precinct, incorporating pathways, seating, barbecue areas and children's play spaces.

[smartcode_project:default project_id=152737 project_image_fid=377680]

Reve Group's Romio Georges said creating an active ground plane had been central to the planning of Nova Rêve.

"There are gardens with pathways, barbecues, seating and play areas, shops and cafes opening onto the street, and a hotel with restaurants and a skybar that anyone in Castle Hill can walk into," Georges said.

The project's elevated position on one of Sydney's highest ridgelines will also provide apartments with outlooks toward the Sydney skyline, surrounding parkland and the Blue Mountains.

More than 80 per cent of the apartments will occupy corner positions, with Turner responsible for both the architecture and interiors.

&nbsp;

[smartcode_project_cta:default project_id=152737]

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Nova Rêve arrives as Reve Group bets on Castle Hill's next growth phase

A collection of just 25 large-format apartments and penthouses overlooking Goodwin Park is entering the Coolangatta market, with <a href="https://www.apartments.com.au/new-apartments/marea-residences-coolangatta-27-27a-dixon-street-coolangatta-qld-4225">Maréa Residences</a> combining a low-density, residential-only approach with uninterrupted park and Pacific Ocean outlooks.

Located at 27 Dixon Street, Maréa comprises three and four-bedroom residences alongside a limited number of dual-level penthouses, with the project positioned between Goodwin Park and <a href="https://www.apartments.com.au/developments/coolangatta-qld-4225">Coolangatta</a>’s coastal precinct.

Construction has commenced, with completion currently estimated for late 2027. Three-bedroom residences are priced from $1.8 million.

[smartcode_project:default project_id=150999 project_image_fid=374005]

The project has been designed around its northern outlook across the park, with the building’s architecture, landscaping and material palette intended to establish a connection with the neighbouring green space. The residences have been configured to maximise natural light and views across Goodwin Park towards the ocean.

Inside, the material palette incorporates timber, stone and brushed brass, complemented by curved detailing and ambient lighting. Kitchens and bathrooms carry the same natural material approach, while residences also include basement parking, storage and lift access.

Maréa’s penthouses are arranged over two levels and include private pools, adding another layer to the project’s focus on larger-format apartment living. Across the development, residences are configured with three or four bedrooms rather than the broader mix of smaller apartment types commonly found in larger projects.

[smartcode_project:default project_id=150999 project_image_fid=374010]

Resident amenity is concentrated at rooftop level, where landscaped entertaining terraces and pools take advantage of elevated views across Coolangatta and the Pacific Ocean.

The project has so far been particularly well received by local owner-occupiers and downsizers, according to Urban Activation Property Sales and Marketing Director Matt George, with the residential-only format, construction quality and northern park outlook among the features resonating with purchasers.

“The uninterrupted northern aspect overlooking Goodwin Park has been a key point of difference, with buyers attracted to the sense of serenity and open space the park provides, while still enjoying easy access to the ocean and being within walking distance of the lifestyle and amenities Coolangatta has to offer,” George said.

[smartcode_project:default project_id=150999 project_image_fid=374002]

“The combination of high-quality construction, a residential-only building, park outlook and proximity to the beach has resonated strongly with the local downsizer market.”

The Dixon Street address is within walking distance of Coolangatta Beach and the broader southern Gold Coast coastline, including the surf breaks at Snapper Rocks and Kirra. Coolangatta’s cafés, restaurants and retail are nearby, while Gold Coast Airport is also within close proximity.

[smartcode_project_cta:default project_id=150999]

Maréa Residences brings parkside apartments to Coolangatta

Melbourne developer PDG has secured Victorian Government approval for its $1.5 billion Southbank development <a href="https://www.apartments.com.au/new-apartments/the-one-1-queens-bridge-street-southbank-vic-3006">The One</a>, clearing the way for the long-dormant riverfront site opposite Crown to finally be developed.

The Minister for Planning has approved the project at 1-29 Queens Bridge Street, with the Department of Transport and Planning issuing the planning permit following its assessment.

The approval will allow PDG to develop the prominent 5,059 sqm site with a major mixed-use tower comprising premium apartments, including branded residences, a luxury hotel and boutique office space.

PDG acquired the site in late 2024, with its position directly opposite Crown's main entrance and near Melbourne's Arts Precinct making it one of Southbank's most significant remaining development opportunities.

<img alt="PDG" data-entity-type="file" data-entity-uuid="3933013e-6332-4386-b9be-089df05caf17" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-27%20at%209.29.22%E2%80%AFAM.png?VersionId=sITIgBqDL0N3VNSMwWEmF5UA.uvcsRyu" />

Designed by COX in collaboration with ODO and PDG, the tower's architecture draws on the movement of the Yarra River, with six vertical pleats running the height of the sculpted facade.

The project will also see the heritage-listed Queens Bridge Hotel restored and incorporated into the development&nbsp;with new hospitality and public uses, including a rooftop venue.

A significant component of The One will be its residential amenity.

More than 5,000 sqm of resident facilities will be delivered across a single level, making it one of the largest consolidated residential amenity offerings proposed in an Australian apartment development.

The planning approval also incorporates a major upgrade of Queensbridge Square, which PDG will deliver in partnership with the City of Melbourne.

<img alt="PDG" data-entity-type="file" data-entity-uuid="73167fcd-1031-4b6f-a408-a064cfe45ed1" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-27%20at%209.29.17%E2%80%AFAM.png?VersionId=Pf1AEWxw6SNmBqR0zQW5lyEze.MtxgFp" />

The existing square will be revitalised as a new civic and pedestrian space along the Yarra River, strengthening the connection between the project, Southbank and the riverfront.

PDG Founder and Managing Director Vince Giuliano said the approval represented a major milestone for a site which has remained largely underutilised for more than 15 years.

“This is the most significant Planning Permit approval Melbourne has seen in recent years,” Giuliano said.

“For more than 15 years, this site has remained underutilised. This approval enables us to deliver a project that will contribute meaningfully to the revitalisation of Southbank, restore and reactivate an important heritage building, and create a new civic and hospitality destination for Melbourne.”

The latest approval follows an earlier planning permit issued by the City of Melbourne covering demolition works across part of the site at 9-29 Queens Bridge Street. Those demolition and early works are already underway.

PDG has also started generating early interest in the residential component from owner-occupiers ahead of a planned public launch in early 2027.

PDG secures approval for $1.5bn Southbank apartment development, The One

Local developer Harridan is seeking to turn its Woolloongabba apartment project into the first stage of a broader transformation of Burke Street, using a new 16-storey mixed-use building to establish a greener pedestrian connection toward the rapidly evolving Boggo Road transport and knowledge precinct.

The South East Queensland developer has filed plans for 154 apartments on the <a href="https://www.apartments.com.au/new-apartments/4-burke-street-woolloongabba-qld-4102">southern side of Burke Street</a>, where its proposal has been designed alongside a wider vision by LatStudios for the street.

That vision positions the southern side of Burke Street for buildings of 15 storeys and above, while envisaging lower-rise development of up to five storeys on the northern side to transition into Woolloongabba's existing character housing. It also proposes wider pedestrian verges, deep planting, new street trees and upgrades to the pedestrian approach to Boggo Road Station.

The Harridan development itself has been designed by Brisbane-based Arqus Design and will comprise 154 apartments across 16 storeys. The mix is weighted heavily toward two-bedroom apartments, with 121 proposed alongside 10 one-bedroom and 23 three-bedroom residences. There will typically be around 14 units per floor.

A lower-ground car park and three podium levels will accommodate 156 resident parking spaces, along with visitor and commercial parking. There will also be 154 resident bicycle spaces and 40 visitor bicycle parks.

&nbsp;

Harridan is a family-owned developer and part of the Holmwood Highgate Group, with more than three decades of development activity across South East Queensland. Its portfolio spans residential, commercial and industrial property, with current residential projects including Riverbank on Byron in Bulimba, Esperance Residences in Carina and The Precinct at Kinross Road in Thornlands.

Wooloongabba has been popular for apartment developers, particularly since the announcement of the 2032 Summer Olympics games in Brisbane.

While there have been a lot of development applications, it has failed to materialize into real supply.&nbsp;

Sarazin has been the major player in the area. They are under construction at Murcia Residences, on the fringe of East Brisbane and Woolloongabba. They have just launched <a href="https://www.apartments.com.au/new-apartments/the-stanley-residences-woolloongabba-8-trafalgar-street-woolloongabba-qld-4102">The Stanley Residences</a>, in Woolloongabba on Trafalagar Street. They also have Nuage coming soon on the nearby <a href="https://www.apartments.com.au/new-apartments/nuage-woolloongabba-14-wellington-road-woolloongabba-qld-4102">Wellington Road</a>.

First look: Harridan plans Burke Street transformation beside Boggo Road transport hub

Savills

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An office site marked for development in Sydney’s Mascot is set to hit the market through Savills, amid a lack of quality approved sites for office buildings and strong occupancy in the Sydney CBD.
The 12,602 sqm site comprising 7, 9, 14, 16, 18-21 Chalmers Crescent is one of the largest urban business park sites in greater Sydney, according to listing agents Matthew Dunn and Tim Grosmann of Savills.
The site has approval for almost 34,000 sqm of net lettable area.
The offering comes at a time when conversion of commercial to residential schemes has put greater pressure on suburban office proposals and the evolving scarcity of employment land is a major issue for greater Sydney, say Savills.
The Mascot site is well connected, with the train station close and near to the proposed WestConnex St Peters Interchange. It is also close to Sydney Airport.
The approved scheme for commercial offices with 37,805 sqm gross floor area (GFA) across four office towers which will rise 44 metres above Chalmers Crescent. 
The approved towers are set on top of a landscaped podium with lobby access and service retail to each tower with car parking.
“Green” roof tops allow for the recycling of grey water.
“The urban renewal of Mascot and Green Square together with Alexandria and St Peters has created a major workforce within close proximity, with the area further poised for strong growth,” Matthew Dunn said.
“Recent transactions of commercial assets in the immediate Mascot precinct have totalled close to half a billion and have been purchased on investment yields from low 5% to low 6% reflecting the strong demand for quality investment assets in the area.” 
The South Sydney area and especially Mascot has turned into an important office market, particularly for those in the logistics and transport sectors, due to its proximity to the CBD, added Tim Grosmann.
He expects keen interest from developers due to the site’s strong leasing fundamentals.
The site is near to shops, with Woolworths and 17 specialty shops at Mascot Central retail precinct and major retailers such as Bunnings IKEA, Officeworks and Bing Lee, all nearby.
The site is being sold through an expression of interest campaign closing June 21.
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Site approved for office development in Sydney's Mascot listed: Savills

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A city fringe hotel in West Melbourne has been snapped up by developer United Asia Group through Savills.
Flagstaff City Inn at 45-55 Dudley Street had been listed with expectations of more than $18 million.
The hotel is speculated to have changed hands for around $19.5 million or a per-square-metre rate of around $15,000, according to Fairfax Media.
The selling agents were Clinton Baxter, Benson Zhou and Jesse Radisich of Savills.
"It achieved an unprecedented land rate for West Melbourne, which is indicative of offshore developers' desire to cater for burgeoning demand," Baxter was quoted by the Sydney Morning Herald.
It generates an income of nearly $1.3 million per annum.
The property was offered to the market on a ‘walk-in, walk-out’ basis with expressions of interest closing April 11.
It is close to city centre attractions, the Melbourne Cricket Grounds (MCG), Royal Botanical Gardens, Southgate along the Yarra River, Crown Casino and more.
UAG, led by Nicole Chow, snapped up the property.
It has 42 spacious suites, a restaurant and facilities for conference  etc.
There is development potential with a 38-level tower next door.
Radisich said future development outcomes for the site could include high density residential and retail, commercial, student accommodation and hotel uses.
“The flexible Mixed Use zoning provides for a wide range of development options and that fact, not to mention the size of the land and the red hot hotel market, is what is so compelling about the opportunity that this property presents,” Radisich said.
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Melbourne's Flagstaff City Inn snapped up by developer through Savills

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Two super lots in the vast Eynesbury estate near Werribee in Melbourne's west have been listed for sale through Savills.
The 218.5 ha landholding has the potential for the development of 3,000 housing lots, subject to council approval.  
Price expectations are around $120 million.
The land parcel, once owned by the Ballieu family, was bought by developer Hyde Property Group in a transaction worth $60 million from listed developer Villa World , according to Fairfax Media.
The Hyde group will use the proceeds to speed up work on the remainder of the estate, chief executive Russell Jackson was quoted by the newspaper group as saying.
The two lots of 118.5 ha* and 100 ha are within the 1,200 ha* <a href="https://www.realcommercial.com.au/property-land+development-vic-eynesbury-502421158" target="_blank">master planned township of Eynesbury</a>. 
The Eynesbury Master plan has plans for around 10,000 lots, providing housing for a projected total population of over 26,000 residents.
The main township is built around an 18-hole championship golf course designed by Graham Marsh, rated within Australia’s top 100 courses.
New linkages under construction providing direct access to Wyndham Vale and the recently constructed Wyndham Vale Train Station along the $3.65 billion Regional Rail Link
The lots are available individually or together, according to listing agents Clinton Baxter and Julian Heatherich of Savills. They are being sold through expressions of interest closing June 28.
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Eynesbury super lots on sale through Savills

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An 88 square metre strata titled retail investment in the Maroochydore CBD has sold for $423,000 to a local investor.
The property at Unit 4, 31-33 Plaza Parade sold for a current net yield of 6.43 percent on passing income.
Will Carman and Peter Capps of Savills said the property sold within a week of its campaign starting via an offers to purchase campaign.
The property had previously sold in November 2016 for $385,000.
Capps said the owner deciding to put the space back on the market when other opportunities took priority.
“Also of great appeal to investors was the location of the property, on Plaza Parade, and the fact it now  provides easy access to the Sunshine Coast Motorway, north and south, and into the Maroochydore CBD via Maroochy Boulevard.”
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Maroochydore Sunshine Coast strata titled retail investment sold

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Childcare centres in Melbourne are hot property with five off the plan centres up for sale through Savills.
The five centres are being offered as a portfolio or individually, through expressions of interest closing June 15 with promises of stamp duty cost savings before July 1.
The listings come soon after five fully leased Melbourne childcare centres sold earlier this year for more than $44 million – an average of $8.8 million each — setting new national benchmarks for the sale of individual centres, according to Savills. 
All the centres are tenanted with long-term leases and options for further extension. Construction is expected to be complete soon.
The five are: 
The 19-21 Point Cook Road, Altona Meadows centre is leased to ASX-listed Think Child Care.
The net rental is $403,000 per annum and the tenant is on a new 20-year lease with a further two options of 10 years each.
 The 808-814 Heatherton Road, Springvale centre is leased to Sparrow Early Learning and the tenant is on a new 20-year lease with three five-year options.
The net rental is $244,000.
<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/2017/05/25/SavillsChildcare2.jpg" alt="">
 
The third centre at 1-7 Selandra Blvd, Clyde North is leased to Sparrow Early Learning, which is on a 20-year lease with three five-year options for extensions.
The net rental is $325,000 p.a.
The centre at 345-351 Hogans Road, Tarneit is tenanted to Kool Kids Child Care. The tenant is on a 20-year lease with two 10-year options.
The net rental is $360,000 p.a.
The last one at 1028 Wellington Road, Rowville is leased to Greenwood Early Education.
The net rental is $390,000 and the lease is for 15 years with three further options of 5 years.
The listing agents are Julian Heatherich, Clinton Baxtor and Benson Zhou of Savills.
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Five Melbourne childcare centres for sale off the plan through Savills

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An office space in Sydney CBD's western precinct is up for lease through Savills.
The 22-storey office building at <a href="https://commercialpropertysearch.savills.com.au/cb67fd44-51c7-e611-80c4-005056816dfc/Lease/Sydney/55-Clarence-Street" target="_blank">55 Clarence Street</a> has undergone refurbishment including a facade refresh. 
Each floor enjoys natural light on three sides and views of Darling Harbour, Pyrmont, and the city, according to the property’s description. The building has a 5-star NABERS rating for energy efficiency.
On offer is part Level 15 which is on sub-lease to June 30, 2018. It is being offered at $475 sqm gross effective.
Features included fitted part floor with a boardroom, meeting room, offices, workstations and kitchen/breakout area.
The property has good exposure, being on the corner of Kent, Margaret and Clarence streets in the western precinct of the Sydney CBD.
Chris Rowe of Savills is the leasing agent.
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Short-term lease offer in prime location in Sydney's CBD: Savills 

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A Moorabbin office and warehouse facility has been sold pre-auction to an owner-occupier for $2.5 million.
The private sale was negotiated through Savills directors Gareth Jackson and Lynton Williams, in conjunction with Just Commercial.
According to Jackson, the former Shannon’s Classic Car auctions property was well suited to the purchaser’s requirements.
"The purchaser jumped on this property because it was so well suited to its requirements that it did not wish to let it go to auction and risk losing it,’’ Jackson said in a statement. 
He said the location on busy Warrigal Road also provided the purchaser with excellent exposure and ease of access for clients and staff.
The <a href="https://www.realcommercial.com.au/property-industrial+warehouse-vic-cheltenham-502261450" target="_blank">321 Warrigal Road</a> property comprises a modern, 1481 square metre building including a  two level office component with a quality kitchen and fit-out, and a clear span warehouse on an 1820 square metre site.
Explaining the pre-auction exchange, Jackson said the purchaser, who is also currently a tenant, had taken advantage of low interest rates to buy in what was a favorable market for owner-occupiers.
"Owner-occupation is a hot market at the moment across the south-east and particularly in the Moorabbin/Cheltenham region and we’re likely to see more such sales as opportunities arise,’’ Jackson added. 
The property was sold with vacant possession by a private Melbourne-based investor.
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Owner-occupier pays $2.5 million for former Moorabbin Shannon’s Classic Car auctions space

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A developer from China has paid $11.67 million for an 8.78 hectare VicRoads site in the City of Brimbank, in one of Melbourne’s key growth corridors.
The deal was brokered by Savills Julian Heatherich, Jesse Radisich and Nick Peden.
The 80a and 80b Oakwood Road, Albanvale property adjoins Brimbank Shopping Centre.
It has two street frontages totalling 225 metres zoned General Residential providing for a range of development options.
Easements and non-developable areas leave a developable area of circa 4.5 hectares.
Mr Heatherich said it was likely the new owner would pursue a townhouse development.
"The demand for housing in established centres, particularly next door to a shopping centre and with public transport and other amenity including recreation and education facilities already in place, is enormous. 
Radisich said infill sites in Brimbank, one of Melbourne’s most important growth centres, were a magnet for developers.
Brimbank is Melbourne’s third most populous municipality with a predicted increase in the number of dwellings of 11.6 per cent over the next 20 years while house prices in Albanvale have risen more than 30 per cent in the three years to January.  
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China developer pays $11.67 million for Brimbank site

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Globally, monetary policy remains accommodative as global growth continues a below-average rate of growth, according to Savills’ latest report.
When reported, the numbers for the second half of 2016 are expected to show global growth marginally improving.
Growth in China has stabilised and the Government continues to support property markets and infrastructure spending.
GDP in the US picked up in the September quarter of 2016 whilst growth in Europe and Japan remained at modest levels.
<a href="https://www.propertyobserver.com.au/images/2017/02/21/Screen%20Shot%202017-02-21%20at%205.08.04%20pm.jpg" target="_blank">Click to enlarge</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/2017/02/21/Screen%20Shot%202017-02-21%20at%205.08.04%20pm.jpg" alt="">
 Whilst conditions remain supportive of consumption growth around the world, business investment remains relatively subdued.
Labour markets globally have seen substantial improvement however the quality of work the wages offered and the part-time and contractual nature of the employment growth undermines the quality of employment growth.
Substantial capacity through underemployment remains.
Consequently, headline inflation numbers remain below most central bank’s target ranges.
Inflation expectations have been little changed over the past twelve months however a late pick-up in inflation expectations following the results of the US presidential election has seen bond yields move substantially at the end of 2016.
<a href="https://www.propertyobserver.com.au/images/2017/02/21/Screen%20Shot%202017-02-21%20at%205.08.18%20pm.jpg" target="_blank">Click to enlarge</a>
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The capital markets have been relatively strong over the six months to end of December 2016 with the S&amp;P500 finishing the six months up over 7 percent.
European bourses fared better with most indices up strongly over the six months to December 2016.
Bourses in Asia have been generally healthy over the last six months of 2016.
10 year bond yields have risen by an average of 44 basis points around the world in the past six months and average around 1.7%.
The negative rates prevalent in Japan and Germany in mid-2016 have reversed to be 0.05% and 0.21% respectively.
<a href="https://www.propertyobserver.com.au/images/2017/02/21/Screen%20Shot%202017-02-21%20at%205.08.53%20pm.jpg" target="_blank">Click to enlarge</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/2017/02/21/Screen%20Shot%202017-02-21%20at%205.08.53%20pm.jpg" alt="">
Most of the move in global bond yields followed the outcome of the US presidential election in early November.
The move in bond yields were associated with expectations of infrastructure spending, tax cuts, trade renegotiations and further support for economic growth.
Expectations for rising interest rates in the US firmed.
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Hanoi tops world office market yields: Savills

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A fully leased medical centre in Brisbane’s inner suburb of Nundah has sold for $6.6 million through Savills.
Nundah Medical Centre at 1220 Sandgate Road is on a 2,042 sqm corner site.
It was purchased by Heathley Limited for the Heathley Direct Medical Fund which secures medical properties throughout Australia. 
The on-market campaign realised an initial yield of 6.5 percent.
It sold through Savills agents Jack Morrison and Peter Chapple on behalf of a private investor.
“Heathley are highly experienced in the area of medical property investment and will draw on their extensive expertise in medical based property assets to continue to bolster the fundamentals of 1220 Sandgate Road long into the future,” Morrison said.
The site has long-term development potential in a rapidly gentrifying Northside precinct, according to the agents.
“The property attracted an unprecedented level of interest as many see Nundah as a premier investment area with an abundance of potential for future growth,” said Chapple.
The location is close to the Brisbane CBD, airport and is well serviced by transport.  
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