The new <a href="https://www.apartments.com.au/new-apartments/yarraville-green-42-stephen-street-yarraville-vic-3013">Yarraville Green</a> development in Melbourne's inner west is showing that landscaping can be just as influential as architecture, with buyers responding strongly to the garden-first approach adopted from the outset by developer Excelon Projects and the project's design team.

Excelon appointed Six Degrees Architects and landscape architects SBLA to work collaboratively on the development, with a brief to create "a sustainable, design-led building with a focus on community."

That approach has resonated with buyers. According to Next Chapter Director Tom Hirini, who is leading the sales campaign, the landscaped communal garden has become one of the project's defining features, alongside its boutique scale and European-inspired cluster housing concept.

Local downsizers, right-sizers and established families already living in Yarraville and surrounding suburbs have accounted for the majority of purchasers.

[smartcode_project:default project_id=144913 project_image_fid=297740]

Yarraville Green will comprise 53 homes, including apartments and townhomes, arranged around the shared central garden to maximise connections to the landscaped open space. Parking has been moved underground, allowing the ground plane to be dedicated to greenery, pedestrian movement and communal spaces.

The landscape extends well beyond passive planting. Productive garden beds, a pergola, communal gathering spaces, garden sheds and a pet wash have all been integrated into the masterplan, creating spaces designed to encourage everyday interaction between residents.

[smartcode_project:default project_id=144913 project_image_fid=297741]

The interiors continue Excelon's focus on craftsmanship, incorporating bespoke elements by Melbourne artisans including leadlight detailing by Adadaz, hand-turned timber hardware by Auburn Woodturning and blown-glass lighting by Ruth Allen.

Sustainability has also been embedded throughout the project, with Yarraville Green targeting an average 7-star NatHERS energy rating through passive design principles, rooftop solar servicing common areas and rainwater harvesting for landscape irrigation.

[smartcode_project:default project_id=144913 project_image_fid=297735]

Construction continues to progress at Yarraville Green, with structural works well underway and framing works approaching completion under builder Balmain &amp; Co. The project remains on track for completion in mid-2027.

Apartments at Yarraville Green are currently priced from $625,000, while townhomes start from $1.4 million.

[smartcode_project_cta:default project_id=144913]

Joel Robinson

Garden-led design drives buyer demand at Yarraville Green

National diversified developer Fortis has officially launched Crest &amp; Walker, its latest Brisbane apartment development, with construction now underway on the 20-storey Newstead project.

Award-winning builder BINAH has commenced construction on the Bureau^Proberts-designed building, which will deliver a limited collection of 65 two and three-bedroom apartments on Kyabra Street.

[smartcode_project:default project_id=145922 project_image_fid=373556]

The project marks Fortis' fourth active residential development in Brisbane, following River House, which is nearing completion, alongside projects in New Farm and Hamilton as the national developer continues to expand its South East Queensland pipeline.

Fortis General Manager – Development Queensland Dan Boman said Crest &amp; Walker reflects the developer's long-term commitment to delivering design-led residential projects in Brisbane's established inner-city suburbs.

"We're proud to be strengthening our presence in Brisbane with Crest &amp; Walker, particularly in such a sought-after lifestyle destination as Newstead," Boman said.

"Every Fortis project is shaped by its context, and we approach each one with the respect and care it deserves.

"Our focus is always on creating places that feel connected to their neighbourhood and elevate the everyday experience for residents. Newstead continues to evolve as one of Brisbane's most sought-after urban communities, and Crest &amp; Walker reflects our ambition to contribute meaningfully to that story."

[smartcode_project:default project_id=145922 project_image_fid=373559]

Positioned between Gasworks Plaza and James Street, <a href="https://www.apartments.com.au/new-apartments/crest-walker-newstead-12-kyabra-street-newstead-qld-4006">Crest &amp; Walker</a> has been designed as a boutique residential address offering privacy and generous living spaces within one of Brisbane's most established lifestyle precincts.

The building features a contemporary brick podium softened by integrated landscaping, while the upper levels are characterised by restrained architecture and enduring materiality. Interiors have been designed to maximise natural light, acoustic performance and long-term liveability.

[smartcode_project:default project_id=145922 project_image_fid=373583]

Residences comprise spacious two and three-bedroom floorplans, with two-bedroom apartments priced from $1.55 million and three-bedroom, half-floor residences from $3.95 million.

Residents will have access to a wellness-focused rooftop featuring a swimming pool, sauna, steam room, landscaped dining spaces and outdoor lounge areas overlooking Newstead and the Brisbane CBD.

[smartcode_project:default project_id=145922 project_image_fid=373571]

Sales are being managed by Slaite Projects, with Fortis expecting strong demand from owner-occupiers seeking a high-quality, design-focused apartment in one of Brisbane's most tightly held inner-city suburbs.

Completion of Crest &amp; Walker is slated for late 2028.

[smartcode_project_cta:default project_id=145922]

Fortis expands Brisbane pipeline with launch of Crest & Walker in Newstead

The enormity of delivering a true skyscraper in Australia's new development market is often overlooked.

It has taken the best part of a decade since plans for Chevron One were first unveiled, but the 52-storey tower is now complete, with residents collecting their keys and moving into what has become one of the Gold Coast's most recognisable new landmarks.

Rising 127 metres above Chevron Island, Chevron One stands almost twice as high as any other building on the island. Its scale places it alongside the trio of towers at Jewel, arguably the last truly significant addition to the central Gold Coast skyline when they were completed around six years ago.

While there are several developments underway around a similar height to Chevron One, they are more concentrated within clusters of the highest towers in the city. The fact Chevron One sits within a developing precinct, looking back at the other high-rise developments in Surfers Paradise and Broadbeach, makes it a different proposition altogether. It will certainly become a reference point on the Gold Coast skyline.

[smartcode_project:default project_id=6515 project_image_fid=68833]

Developer Bensons Property Group is behind the 52-storey tower, which has just shy of 250 apartments, along with an exhaustive list of resident amenity spread across what is the largest development site ever assembled on Chevron Island.

The tower has been the talk of the town for years, says Ray White Projects Gold Coast agent Caitlin Rosenboom, who is selling the remaining apartments.

"People have been watching Chevron One go up for years," Rosenboom says, adding that many prospective buyers have been surprised by the scale of the views once they step inside.

"It's only when they walk through a completed apartment that they truly understand the position of the building," Rosenboom says.

"The views are jaw-dropping. Whether you're looking east over the ocean, across Surfers Paradise, along the river systems or out to the hinterland, every level offers something different but equally impressive."

[smartcode_project:default project_id=6515 project_image_fid=360215]

One of Chevron One's defining advantages is its location on the eastern side of Chevron Island on Stanhill Drive, a position which protects the views forever.

"There's only one row of houses between Chevron One and the water, and the height restrictions along the river means views from Chevron One can never be built out,"&nbsp;Rosenboom says.

While new apartment developments continue to emerge across the Gold Coast, Rosenboom says opportunities to secure a completed apartment with this level of outlook are becoming increasingly rare.

"The size of the site is something that would be incredibly difficult to replicate today," she says.

"That's allowed Chevron One to deliver the sort of amenity, open space and resident facilities that very few projects can offer. There are not many completed apartment buildings on the Gold Coast right now that can compete with the combination of scale, quality and amenity."

[smartcode_project:default project_id=6515 project_image_fid=68839]

There's around 2,000 sqm of amenity solely for the use of residents of Chevron One. Club One features a uniquely shaped swimming pool that mirrors the footprint of the building itself, set within a extensively landscaped gardens. There's also an indoor pool and spa, a fully equipped gym with a Pilates room, a yoga garden, a bookable private dining area and lounge that can host up to 30 people, and a 24-hour concierge service.

As for the buyers, Rosenboom is fielding enquiry from everywhere: Sydneysiders and Melburnians looking at the new and off-the-plan market following the changes in the Federal Budget, as well as those looking to relocate, through to South East Queenslanders seeking either a permanent home or a weekender bolthole.

"The Gold Coast lifestyle continues to resonate with people relocating from the southern states, and when they see the views and the quality of what's been delivered at Chevron One, it becomes very easy for them to understand the appeal," Rosenboom says.

A diverse mix of one, two and three-bedroom apartments remain available, with each offering "something a little different", be it the orientation and views, configuration, or level, to suit a wide variety of buyers.

The remaining apartments are ready to inspect in person, by appointment.

[smartcode_project_cta:default project_id=6515]

A decade in the making: Residents to move into Chevron One as construction wraps up

A general rule of thumb in new apartment developments is that the penthouses get the rooftop.

It's a formula that's become commonplace across Australia's apartment market. Residents might have access to a pool, gym or barbecue facilities on a dedicated lower level, but the most desirable outdoor spaces are typically reserved for the highest-priced homes at the top of the building.

<a href="https://www.apartments.com.au/developers/sherpa-property-group">Sherpa Property Group</a> has taken the opposite approach.

Rather than dedicating the rooftop to a handful of buyers, the Gold Coast developer has made it the centrepiece of its Flourish collection, creating expansive shared spaces from the best vantage point in the building.

The philosophy has reached its most ambitious expression at <a href="https://www.apartments.com.au/new-apartments/flourish-soleira-palm-beach-1150-1160-gold-coast-highway-palm-beach-qld-4221">Flourish Soleira</a> in Palm Beach, where two rooftop precincts connected by a skybridge will deliver one of the most extensive lifestyle offerings seen in a residential apartment project on the Gold Coast.

[smartcode_project:default project_id=150017 project_image_fid=374053]

"We're seeing a clear move toward developments that offer more than just an apartment," Sherpa Group founder Christie Leet said.

"People want spaces that support how they actually live, whether that's working from home, staying active, or spending time with family and friends.

"That's where amenity becomes critical. It's not just about what's included, but how those spaces are designed to be used every day."

[smartcode_project:default project_id=150017 project_image_fid=374052]

The breadth of amenity has already attracted buyers across multiple demographics. Younger first home buyers have been drawn to Soleira's one-bedroom apartments, a product rarely delivered in Palm Beach, while families have responded to practical inclusions such as the shallow children's pool adjoining the main lap pool and the extensive communal recreation areas.

Instead of a single rooftop, Soleira delivers two distinct lifestyle zones.

[smartcode_project:default project_id=150017 project_image_fid=372547]

The southern rooftop has been dedicated to wellness, featuring a gym, yoga and Pilates studio, work-from-home facilities, a wellness centre, spa, and hot and cold plunge pools.

The northern rooftop focuses on recreation and entertaining, incorporating a heated resort-style pool, private dining rooms, pizza ovens, barbecues, a golf simulator, children's recreation areas, and what is expected to be the Gold Coast's first rooftop basketball court, which will also double as a squash court.

[smartcode_project:default project_id=150017 project_image_fid=374054]

Beyond the rooftops, Soleira will introduce 1,500 sqm of curated retail beneath the towers, creating one of Palm Beach's first genuinely mixed-use lifestyle precincts where cafés, restaurants and convenience retail become part of residents' everyday lives.

Sherpa has also retained management rights across the development, allowing it to oversee the long-term operation of the building through a 24-hour concierge model. The developer is also exploring additional revenue streams within the precinct aimed at helping offset ongoing body corporate costs for residents.

[smartcode_project:default project_id=150017 project_image_fid=370962]

While Soleira is the largest project Sherpa has delivered, the rooftop-first philosophy has been evolving for several years.

It began with <a href="https://www.apartments.com.au/new-apartments/amargo-6-12-sixth-avenue-palm-beach-qld-4221">Flourish Amargo</a>, the first project released under the Flourish brand. Rather than competing at the ultra-luxury end of the market with oversized half-floor and full-floor residences, Sherpa focused on creating lifestyle-driven apartments supported by resort-style shared spaces.

Amargo introduced more than 800 sqm of rooftop amenity, combining wellness facilities, heated pools, entertaining areas, cabanas, pizza ovens and private dining spaces into what was designed as an extension of residents' homes rather than a facility used only occasionally.

[smartcode_project:default project_id=146527 project_image_fid=366550]

That approach continued with Flourish Oasis, where the same amenity-led philosophy was refined into a more boutique development. Strong demand from Sherpa's growing VIP database saw much of the project sold before it reached the broader market, reinforcing buyer appetite for apartment communities centred around shared lifestyle experiences.

Flourish Amargo is slated for completion mid-way-through next year, with Oasis to be delivered by late 2027. Flourish Soleira is expected to complete in 2030.

[smartcode_project_cta:default project_id=150017]

Sherpa takes amenity to the sky as Flourish Soleira captures booming Palm Beach demand

As apartment living continues to evolve across Sydney's growth corridors, the quality and distribution of shared spaces is increasingly shaping how residents experience home. Rather than functioning as add-ons, amenities are being embedded into the daily rhythm of a building, supporting everything from quiet retreat to social interaction, often within a single vertical community.

At <a href="https://www.apartments.com.au/new-apartments/aeris-melrose-park-nursery-street-melrose-park-nsw-2114">Aeris</a> in Melrose Park, this approach is resolved through a layered amenity offering that unfolds from ground level through to its upper podium. Developed by <a href="https://www.apartments.com.au/developers/sekisui-house-australia">Sekisui House Australia</a> in partnership with Hankyu Hanshin Properties, the project introduces 468 apartments across two towers and a mid-rise building, positioned at the highest point of the broader masterplan.

[smartcode_project:default project_id=426 project_image_fid=359199]

The amenity experience begins at street level, where two courtyards sit within a landscaped setting that connects residents to the wider network of parks and green spaces. These green spaces are not isolated pockets but part of a wider pedestrian network that links Aeris to the surrounding <a href="https://www.apartments.com.au/developments/melrose-park-nsw-2114">Melrose Park</a> precinct, including Central Park, future schools, and the Town Centre opening in July 2026. The result is a transition that moves from public to private without abrupt boundaries, allowing residents to pass through shaded, tree-lined environments before reaching the building itself.

Moving upward, the focus shifts to the level five podium, where the primary communal facilities are concentrated. This space brings together a 16-metre swimming pool, outdoor seating areas, and a communal BBQ zone arranged to take advantage of elevated outlooks. Seating is positioned beneath pergolas, creating pockets of shade that extend the usability of the space throughout the day. The pool edge aligns with views toward the wider district, reinforcing the sense of elevation that defines the project’s positioning.

In the adjacent building, this is complemented by quieter, more contemplative spaces, including an outdoor cinema set within the same level. Positioned to operate primarily in the evening, it introduces a different tempo to the shared environment, shifting from daytime activity to after-hours use without requiring separate zones.

[smartcode_project:default project_id=426 project_image_fid=360299]

The podium also accommodates an intimate private resident gym. Located on the lower levels, it gives residents convenient access to fitness facilities without leaving the building.

Above, the elevated podium sky deck extends the amenity offering, providing additional open-air spaces with elevated outlooks across the surrounding landscape. While more restrained in program, this upper level reinforces the project’s vertical progression, from ground-level greenery to elevated outlook, allowing residents to move between distinct spatial conditions within a single address.

This distribution of amenities reflects a deliberate response to how residents use space across the day. Sekisui House Australia Sales and Marketing Director Peter Kalaf points to the role these shared areas play in shaping buyer demand. Aeris has been conceived as more than a collection of apartments, with the podium pool, gym and outdoor cinema forming part of a broader lifestyle offering that extends the home beyond each individual residence.

[smartcode_project:default project_id=426 project_image_fid=360300]

What distinguishes Aeris is not the inclusion of these elements individually, but how they are arranged in relation to one another. Active, social, and passive spaces are layered vertically rather than separated, allowing residents to choose between them without leaving the building or moving far from their apartment. This proximity supports both routine use, such as a morning swim or evening workout, and more occasional gatherings, whether around the BBQ area or within the cinema setting.

The amenity design also sits within a broader framework of connectivity across Melrose Park. The Melrose Park Town Centre, anchored by Coles and Dan Murphys, features a mix of retail, dining, health and lifestyle offerings, bringing everyday convenience closer to residents. By the end of the year, more than five hectares of parks and open space, equivalent to around seven football fields of green space on residents' doorstep, will further enhance the precinct, allowing the internal facilities at Aeris to operate as an extension of the wider neighbourhood rather than a substitute for it.

Construction at Aeris continues to gather momentum, with ground floor slabs expected to be completed in late 2026 before the first sections of the buildings begin to rise above ground.

[smartcode_project_cta:default project_id=426]

Elevated amenity anchors daily life at Aeris, Melrose Park

South Melbourne

<html><body>
It endured as a paper design for years, but now a new scheme is on show for 41-49 Bank Street, South Melbourne.

Initial overtones of development for the site landed with Port Phillip during 2009, but amounted to nothing even though the project was marketed at one stage as Aero Apartments. Enter Virgate Property (Bank Street) Pty Ltd who are driving the current bid to transform the plot into a substantial residential tower.

Moved on during 2016, 41-49 Bank Street's sale at the hand of CBRE City Sales was <a href="http://www.australiannationalreview.com/chinese-developers-invest-56-million-melbourne-apartment-sites/">reportedly</a> to Chinese developer Guangdong Carrington Real Estate Group, with the previous permit for a 16-level tower of 180 apartments in tow.

Their local development arm, Virgate Property Group, is now pushing for a tower of 19 levels and 174 apartments.

<h2>41-49 Bank Street application summary</h2>

<figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/image40_7.jpg" rel="gallery-all" title="Bank Street perspective. Planning image: Bruce Henderson Architects"><img alt="" class="image-article-full-width-580px" height="608" src="/sites/urban.melbourne/files/styles/article_full_width_580px/public/pictures/article-images/image40_7.jpg?itok=67TYFLVR" title="Bank Street perspective. Planning image: Bruce Henderson Architects" width="580"></a>

<figcaption>Bank Street perspective. Planning image: Bruce Henderson Architects</figcaption></figure><ul>
<li>1,441sqm holding with in excess of 60 metres of frontage</li>
	<li>Currently a tri-level commercial building</li>
	<li>Proposed 19 level tower at 59.7m</li>
	<li>174 apartments: 37 x 1BR, 11 x 1BR+S, 126 x 2BR</li>
	<li>Apartment sizes: 46-82sqm</li>
	<li>Common areas on Levels 5 and 6</li>
	<li>Basement and above ground provisions for 124 vehicles &amp; 58 bicycles</li>
	<li>2 retail premises of 106sqm and 55sqm</li>
</ul>
Planning &amp; Property Partners are guiding the Bruce Henderson Architects-designed tower through the planning process.

The tower itself features strong vertical elements by way of white metal slats set over silver, grey and dark grey glass. The main north elevation of the proposed tower is dominated by the slats, save for a few sections of unobscured glazing, including an architectural feature within the podium which houses the development's gym. 

Having taken on a modest apartment project in Mont Albert, 41-49 Bank Street represents Virgate Property Group's first Melbourne highrise, although it's certainly not the area's first. Wedged between Dorcas Street and Park Street, 41-49 Bank Street is in the middle of a mushrooming precinct that spreads across Southbank and South Melbourne.

41-49 Bank Street is surrounded by a very healthy number of residential towers (from planning to construction) with 14 listed within the Apartments.com.au Project Database in the immediately surrounding blocks.

<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/image41_3.jpg" rel="gallery-all" title="Views from the site. Image: CBRE City Sales"><img alt="" class="image-article-full-width-580px" height="402" src="/sites/urban.melbourne/files/styles/article_full_width_580px/public/pictures/article-images/image41_3.jpg?itok=v1tPXCHF" title="Views from the site. Image: CBRE City Sales" width="580"></a>

<figcaption>Views from the site. Image: CBRE City Sales</figcaption></figure><h2>41-49 Bank Street development team</h2>

<ul>
<li>Developer: Virgatee Property Group</li>
	<li>Application Plans: Bruce Henderson Architects</li>
	<li>Planning: Planning &amp; Property Partners</li>
	<li>Sustainable Management Plan: ADP Consulting</li>
	<li>Daylight Assessment Report: ADP Consulting</li>
	<li>Waste Management Plan: One Mile Grid</li>
	<li>Transport Impact Assessment: One Mile Grid</li>
</ul>
</body></html>

silvermb

Take it to the Bank: South Melbourne's latest tower on show

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A former linen warehouse converted into a house at South Melbourne has been sold.
The home at <a href="https://www.realestate.com.au/sold/property-house-vic-south+melbourne-124571470" target="_blank">251-255 Moray Street</a>, Irish Linen House sits on two titles of over 340 sqm of land.
It was amalgamated in two acquisitions - $1.8 million in 2007 and then $552,000 in 2012.
No latest sale price has been given, but $4.5 million plus was tipped.
Retaining its rich period personality it has a modern design that offers either a unique lifestyle, investment or even redevelopment possibilities.
Title one, consisting of Number 251, is a two bedroom townhouse with a zoned open plan living and dining spaces with gas period style open fire.
The other title, Number 253, is a 158 sqm office that has a large reception, two meeting rooms, a large open plan office with kitchenette along with bathroom and landscaped courtyard.
Number 255 is a former warehouse thar has been converted into a residence.
The one bedroom property with exposed original brickwork and timber floors comes with a home office, two open plan living and dining areas alongside a kitchen.
The property was offered through Abercomby’s Real Estate agents Jock Langley and Sam Goddard.
 
 
 
 
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jchancellor-FAypfDUnLy

South Melbourne historic property, Irish Linen House, sold

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A South Melbourne office building has been listed with price expectations of $18 million plus.
The <a href="https://www.realcommercial.com.au/property-offices-vic-south+melbourne-502336386" target="_blank">31 Market Street, South Melbourne</a> property comprises a fully leased, three level, building with undercover parking for 41 cars.
It has a weighted average lease expiry (WALE) of four and a half years to a range of ASX listed, national, and government funded tenants, returning $1,055,000 per annum.
The 2565 square metre building sits on an 1150 square metre site with the corner situation has been recently refurbished.
The property is being marketed by Clinton Baxter, Nick Peden and Benson Zhou of Savills in conjunction with Danny Clark, Andrew Hansen and George Burbury of Knight Frank.
Baxter said fringe properties were now very much on the agenda of investors as opportunities in CBDs dried up.
A record $1.39 billion was spent on Melbourne fringe property in 2016, up 31% over the previous year, with yields at an average 6.63% compared to CBD yields at 5.75%, according to Savills Research.
Foreign investors dominated sales with 84% of purchases.
“CBD investment markets have been hot over the last four years and inevitably that has led to a shortage of stock and record low yields,’’ Baxter said.
“At the same time a pick-up in CBD leasing has seen vacancy tighten and rents rise.”
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j.ballantyne1990-6AQqhLzZaK

South Melbourne office listed with $18 million plus hopes

<html><body>
Early in the year Apartments.com.au highlighted a squad of <a href="/news/south-melbourne-a-magnet-for-new-residential-tower-applications">new residential towers looking to call South Melbourne home</a>. Fast forward and the considerably lengthy backlog of residential projects at planning within City of Port Phillip is a little lighter, with a number of earlier tower applications given the go-ahead.

A VCAT-issued permit for 2 Bowen Crescent was obtained by Wuzhong International last month, clearing the way for a 19 storey residential building for Chinese-backed outfit. The work of Plus Architecture, 2 Bowen Crescent holds 213 apartments across a 1,800sqm site.

The tower planning application was lodged during December 2015, and at the time included a healthy number of apartments in a single bedroom format. Property advisory and project management practice Gallagher Jeffs have indicated the project will proceed to sales mid this year.

<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/600600p450ednmain17plan_0.jpg" rel="gallery-all" title="2 Bowen Crescent. Image: Gallagher Jeffs"><img alt="" class="image-article-full-width-580px" height="387" src="/sites/urban.melbourne/files/styles/article_full_width_580px/public/pictures/article-images/600600p450ednmain17plan_0.jpg?itok=rA2tPVZ5" title="2 Bowen Crescent. Image: Gallagher Jeffs" width="580"></a>

<figcaption>2 Bowen Crescent. Image: Gallagher Jeffs</figcaption></figure>A few doors away, and Melbourne-based GURNER is all but ready to advance its 7 Bowen Crescent development to sales after gaining a VCAT-issued permit last year. Currently, the project has been noted as at appeal within City of Port Phillip's planning system, with the supplemental action taking place earlier this month.

Initially submitted with a heavier apartment count, 7 Bowen Crescent's internals have been rejigged to carry just over 120 apartments, with 64 noted as having three bedrooms. 

<blockquote>
Set to be one of Melbourne’s most iconic buildings set on a triangle site with uninterrupted views of Albert Park lake, the bay and Melbourne’s skyline, it will rival the best in the world.

A design collaboration between Elenberg Fraser and David Hicks will provide the market something never seen before!!!
<cite>GURNER</cite>
</blockquote>

Meanwhile another Asian developer is poised for success, as City of Port Phillip have issued a delegated notice of decision last month for 596 St Kilda Road; the final stage prior to a permit being issued.

Having landed at planning mid last year, Singaporean outfit Lian Beng Group are in the box seat to move ahead with the tower designed by Bates Smart. Included are 170 apartments, split between one and two bedroom options. The tower was designed as a mixture of vertical fins, protruding balconies and hanging greenery running the height of the tower.

<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/image41_2_0.jpg" rel="gallery-all" title="596 St Kilda Road. Planning image: Bates Smart"><img alt="" class="image-article-full-width-580px" height="442" src="/sites/urban.melbourne/files/styles/article_full_width_580px/public/pictures/article-images/image41_2_0.jpg?itok=Vjmur8I8" title="596 St Kilda Road. Planning image: Bates Smart" width="580"></a>

<figcaption>596 St Kilda Road. Planning image: Bates Smart</figcaption></figure>The trio above is in addition to Australian Unity's 114-130 Albert Road which was given the go-ahead late last year. Alterations and additions to the existing commercial building will see an adjoining 19 storey tower constructed.

The approval and pending redevelopment of the Albert Road property into an aged care and retirement development is in addition to Australian Unity squaring away and their new commercial home on Spring Street, with construction due to begin shortly.
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Multiple towers given the green light within Port Phillip

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South Melbourne is experiencing a tightening in the office leasing space owing to strong tenant demand for office space, says real estate firm Cushman &amp; Wakefield.
The trend is similar to that of Southbank, which in 2016 saw vacancies drop to 4.1 percent, the lowest levels since 2011 (PCA Office Market Report, Feb. 2017).
During a number of recent leasing transactions completed in the South Melbourne area, Cushman &amp; Wakefield’s Melbourne office leasing team has witnessed unprecedented demand amongst tenants for limited space, particularly in and around the South Melbourne Market Precinct. 
Cushman &amp; Wakefield has recently completed a number of leasing transactions including: 
Level 1, 280-286 Coventry Street – 725 sqm leased to sales performance firm, Maverick Rose. The leasing campaign was managed by Grant Tinker and Edward Maas.
5 Union Street South Melbourne – 260 sqm at $351 per sqm leased to independent advertising agency, Zoo Group. The leasing agent was Tristan Parker.
Suites 1.14 and 3.07, 87 Gladstone Street – 52 sqm and 53 sqm spaces leased to anti-bullying and education group, Project Rockit and Architects, de.arch, respectively. Both were leased at approx. $500 per sqm also managed by Tristan Parker.
Cushman &amp; Wakefield’s Edward Maas said the market was very tightly held, with existing tenants were rolling on lease options, essentially locking out potential tenants.
“We have seen Southbank experience a sharp increase in vacancies over the past 12 months, falling to 4.1% at end of 2016 from 9.3% at the end of 2015. This has been compounded by the strongest net absorption in five years over 2016, and ongoing stock reduction, which is impacting leasing opportunities in the broader South Melbourne area.”
Matt Rose, partner at ZOO Group — one of the new tenants in South Melbourne — said South Melbourne has established itself as a strong hub for businesses in the creative industries, but conventional spaces in the area are largely locked up.
“As a rapidly emerging creative agency, we were seeking access to the same ecosystem and amenities as creative hubs like Richmond or Cremorne and South Melbourne continues to offer a fantastic location for staff and clients. With little on offer in the area, we moved very quickly on an old furniture store and re-designed the space to accommodate the flexibility a business like ours needs.”
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jonathanchancellor-7SQnKwU6yx

South Melbourne vacancies decrease sharply as tenants vie for space 

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A rush of planning applications either side of the festive break are cumulatively seeking to add to South Melbourne's robust development scene, with four major apartment projects lodged.

City of Port Phillip will now assess the respective merits of the fresh applications, along with a handful of other noteworthy towers already at planning that when combined, would provide the popular suburb with thousands of new apartments.

Most recent to planning was 9-13 Park Street, landing with Council in the new year. The current low-rise commercial complex spanning the site is expected to make way for a multi-storey apartment building.

The arrival of 9-13 Park Street follows on from December's lodgement of plans for the adjoining 5-7 Park Street, with that application landing at Council four days prior to Christmas. Located next to Sol Sapir-designed Hallmark which spans 19 levels and includes 155 apartments, the prime 5-7 Park Street plot is currently occupied by a nondescript house that is home to brothel Cherry Blossoms.

Expected to replace the venue is a 20 storey mixed-use building set above basement car parking.

<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/image39_4.jpg" rel="gallery-all" title="5-7 Park Street's days look to be numbered. Image: Google"><img alt="" class="image-article-full-width-580px" height="349" src="/sites/urban.melbourne/files/styles/article_full_width_580px/public/pictures/article-images/image39_4.jpg?itok=ylawX-Ur" title="5-7 Park Street's days look to be numbered. Image: Google" width="580"></a>

<figcaption>5-7 Park Street's days look to be numbered. Image: Google</figcaption></figure>41-49 Bank Street also entered planning last month, with developer Guangdong Carrington Real Estate Group seeking the right to deliver a 19 level residential tower comprising 174 apartments.

Having secured the 1,441sqm site during late 2015 for over $15 million, Guangdong elected not to proceed with an approved scheme which at a point was known as Aero Apartments during its failed marketing campaign.

Rounding out the quartet is 1-13 Cobden Street which has been subject to development overtones for some years. Agent Lemon Baxter handled the site's sale during 2014, with the plot now subject to a mixed use building containing 229 dwellings and retail spaces at ground level.

<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/image38_7.jpg" rel="gallery-all" title="Artisan Architects' revised design for 200-204 Wells Street."><img alt="" class="image-article-full-width-580px" height="648" src="/sites/urban.melbourne/files/styles/article_full_width_580px/public/pictures/article-images/image38_7.jpg?itok=-efyGqcT" title="Artisan Architects' revised design for 200-204 Wells Street." width="580"></a>

<figcaption>Artisan Architects' revised design for 200-204 Wells Street.</figcaption></figure>With this South Melbourne pocket underpinned by Park Street and Albert Road perennially popular with developers and soon to boast its <a href="http://metrotunnel.vic.gov.au/locations/domain">own metro station</a>, Apartments.com.au is tracking 7 additional projects with 14 levels and above in the immediate area.

Projects that have yet to reach a planning outcome, or have yet to begin construction include Australian Unity's <a href="/buildings/the-grace-114-130-albert-road-south-melbourne">114-130 Albert Road</a>, Milbex's <a href="/buildings/park-ave-39-park-street-south-melbourne">37-43 Park Street</a>, <a href="/new-apartments/south-melbourne-vic-3205">Niche at 33 Park Street</a>, the combined <a href="/new-apartments/13-21-palmerston-crescent-south-melbourne">13-21 Palmerston Crescent</a> / <a href="/new-apartments/first-light-28-albert-road-south-melbourne">28-32 Albert Road</a> and <a href="/buildings/200-204-wells-street-south-melbourne">200-204 Wells Street</a>.

The latter, seen above, is a recent candidate for approval and consists of an Artisan Architects-designed 20 level tower with 201 apartments.

Set on a 1,543sqm plot, the scheme for 15 Park Street Pty Ltd includes 75 single and 126 dual bedroom apartments.

Lead image: Bob Mical, Flickr
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South Melbourne a magnet for new residential tower applications

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This 1860s converted shop and adjoining stables sold in South Melbourne at weekend auction for $2.18 million.
It last traded at $1.13 million in 2007.
Set on a 200 sq m block, the recently renovated two story property at <a href="https://www.realestate.com.au/sold/property-house-vic-south+melbourne-124084586" target="_blank">315 Moray Street</a> was marketed as having had a chic residential update.
Its fireplaces and lofty ceilings remain in a minimalist, modern polish finish.
<img src="/images/2016/12/14/South%20Melbourne.jpg" alt="">
Bifold doors to the rear deck and courtyard connect the kitchen and meals area.
The two storey former stables, with a private entry from Cobden Street, comprises a bedroom, bathroom, with open plan living/dining room.
Marshall White’s Justin Holod was expecting about $1.9 million. 
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Converted corner shop becomes South Melbourne

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A laneway office with a caretaker residence tucked away in one of South Melbourne's historic cobblestone lanes recently sold for $1,380,000.
The architect-designed office spaces spread over four levels at <a href="https://www.realcommercial.com.au/property-retail-vic-south+melbourne-502116922" target="_blank">7 Emerald Way, South Melbourne, Vic 3205</a> offer a fully air conditioned and flexible floor plan.
The property with a floor area of 250 sqm comprises a first floor open office and two studio/offices plus full bathroom. The second floor has an office and living area with a kitchen opening to a sunlit terrace. The top floor has a master bedroom with ensuite and a private terrace with CBD views.
The property is close to Clarendon Street, The Arts complex, Southbank and the city.
The selling agent was James Keep of Cayzer Real Estate.
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Elegant office property near Melbourne's Southbank sold

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At $4 million Toorak has Melbourne’s highest median house price but South Melbourne and nine other suburbs command more by the square metre, new Real Estate Institute of Victoria data shows.
South Melbourne tops the list for land value city-wide – at an impressive $11,212 per square metre.
The suburb also has an impressive median house price of $1.6 million.
Homes in Albert Park and Carlton North also attracted top dollar by square metre, at $10,495 and $9,966 respectively. 
REIV chief executive officer Geoff White said many of the city’s most expensive suburbs by square metre were located in the city’s south east, including St Kilda East, Richmond and South Yarra. 
Further from the city, bayside suburbs Brighton, Black Rock and Hampton commanded the most by square metre - $4,412, $3502 and $3,251 respectively.  
Of Melbourne’s outer suburbs, Knoxfield in the east had the highest price per square metre - $2,440 – and a median house price of $706,000.
<table style="width: 477px;" border="0" cellspacing="0" cellpadding="0"><tbody>
<tr>
<td>Suburb</td>
<td>Sep-16 Median</td>
<td>Price Per m2</td>
</tr>
<tr>
<td nowrap>SOUTH MELBOURNE</td>
<td nowrap>$1,600,000</td>
<td nowrap>$11,212</td>
</tr>
<tr>
<td nowrap>ALBERT PARK</td>
<td nowrap>$1,650,000</td>
<td nowrap>$10,495</td>
</tr>
<tr>
<td nowrap>CARLTON NORTH</td>
<td nowrap>$1,400,000</td>
<td nowrap>$9,966</td>
</tr>
<tr>
<td nowrap>ST KILDA EAST</td>
<td nowrap>$1,635,000</td>
<td nowrap>$9,869</td>
</tr>
<tr>
<td nowrap>FITZROY</td>
<td nowrap>$1,300,000</td>
<td nowrap>$9,717</td>
</tr>
<tr>
<td nowrap>NORTH MELBOURNE</td>
<td nowrap>$1,292,500</td>
<td nowrap>$8,549</td>
</tr>
<tr>
<td nowrap>PORT MELBOURNE</td>
<td nowrap>$1,427,500</td>
<td nowrap>$8,206</td>
</tr>
<tr>
<td nowrap>RICHMOND</td>
<td nowrap>$1,152,500</td>
<td nowrap>$7,917</td>
</tr>
<tr>
<td nowrap>SOUTH YARRA</td>
<td nowrap>$1,780,000</td>
<td nowrap>$7,451</td>
</tr>
<tr>
<td nowrap>ABBOTSFORD</td>
<td nowrap>$1,153,750</td>
<td nowrap>$7,437</td>
</tr>
<tr>
<td nowrap>TOORAK</td>
<td nowrap>$4,000,000</td>
<td nowrap>$7,255</td>
</tr>
</tbody></table>
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South Melbourne leads price per square metre land pricing: REIV

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A freehold office building at South Melbourne is for auction.
Located at <a href="https://www.realcommercial.com.au/property-offices-vic-south+melbourne-502172590" target="_blank">33 Tope Street</a> the two level property is currently vacant and has high levels of natural light.
It has a prominent corner location providing 360 sqm of office space and 193 sqm of land with a Commercial 2 zone land.
Fully fitted the office is ready to be occupied and includes a kitchen, meeting room, partitioned offices and open plan work area.
Cafes, bars, corporate headquarters and Albert Park Lake are in close proximity providing the perfect environments to set up a business or attract tenants.
The auction is December 15 through CBRE agents Tim Last and Nick Lower and Dgi Properties agents Tony Gargaro and David Gargaro.
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