ASX-listed developer Cedar Woods is progressing its plans for its Southbank arts precinct site.&nbsp;

The developer has filed plans, which are now with the&nbsp;Department of Transport and Planning, for a new 20-level tower at&nbsp;<a href="https://www.apartments.com.au/new-apartments/141-151-sturt-street-southbank-vic-3006">141–151 Sturt Street</a>, a 2,718 sqm block opposite the Habitat Filter sculpture.

The proposal seeks to demolish the two-level&nbsp;commercial building, including a small supermarket and medical tenancies, and create a new building with 180 apartments and a focus on an&nbsp;active public realm and arts integration.

&nbsp;

<img alt="Southbank site" data-entity-type="file" data-entity-uuid="76a72db6-91ef-43ae-827d-a9cfa72893d2" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Site.png?VersionId=DZgtB4K6BswVh0QtCs3iLjXaLp0CbcEb" />

&nbsp;

There will be a full mix of apartment configurations, including 28 studio apartments, 16 one-bedroom, 104 two-bedroom, and 32 three-bedroom units.

Retail, creative arts, and residential amenity functions are integrated across the lower levels. A food and drink tenancy is planned to front Dodds Street, while a retail tenancy fronting Sturt Street will be accessed via an elevated walkway. The first floor includes a substantial 734 sqm creative arts space, envisioned to support Melbourne’s growing cultural and digital industries.

Architecture firm <a href="https://www.apartments.com.au/architects/rothelowman">Rothelowman</a> has put together the plans. In their&nbsp;Urban Design Report they highlighted the project’s ambition to embed itself within Southbank’s evolving cultural fabric.

A central feature of the design is a through-block link connecting Sturt and Dodds Streets, landscaped with native plantings and embedded with universal access ramps.

“The ramp has been thoughtfully integrated as the primary access point, ensuring universal accessibility for all users,” the report noted, with the link offering “a direct response to the urban planning scheme of creating more green spaces within our communities”.

<img alt="Southbank podium" data-entity-type="file" data-entity-uuid="4d24b1b2-d69c-4a11-a11d-ec6df432221c" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/podium.png?VersionId=geWoJyZDmPSLODZ_.PNJ0LvpOmyyCdpo" />

The building’s podium form responds to the mandatory height limits along Dodds Street and maintains a fine-grain interface to adjoining developments. Above the podium, the tower is articulated with recessed balconies and a focus on views toward the CBD and surrounding arts institutions. A communal rooftop recreation deck and indoor lounge are positioned on level four, adjoining seven apartments and providing over 900 sqm of resident amenity space.

Vehicle access and loading will be provided via Dodds Street, with 155 resident car spaces located across two basement levels and the first three above-ground floors. Bicycle storage is more generous, with 226 spaces distributed across resident, staff and visitor needs.

Rothelowman describes the architecture as “humanist,” with ground-level interfaces designed to encourage social interaction and provide a dignified entry for both residents and passers-by. “All street interfaces are crafted to invite and nurture human connections,” the design report states. “The façade transitions to a human scale, providing an approachable and engaging streetscape”.

Cedar Woods, while well-known for its large communities it develops outside of Australia's capital cities, they have recently developed in Melbourne's inner-ring before. They are approaching completion at <a href="https://www.apartments.com.au/new-townhouses/88-leveson-north-melbourne-88-leveson-street-north-melbourne-vic-3051">88 Leveson</a>, just 15 townhouses in the heart of North Melbourne.

Joel Robinson

Cedar Woods progresses with new apartment plans in Southbank arts precinct

Brisbane developers Core Property Partners and Vector Property Australia has teamed up for Brisbane's newest apartment development.

The duo identified <a href="https://www.apartments.com.au/developments/east-brisbane-qld-4169">East Brisbane</a> as their preferred suburb, on the fringe of the Gabba Precinct, where they've just revealed BANKSII, 72 apartments opposite Raymond Park.

[smartcode_project:default project_id=136432 project_image_fid=5481]

The one-, two-, and three-bedroom apartments will sit in a glass-wrapped building that will also feature a rooftop with an&nbsp;infinity-edge pool, a BBQ area and alfresco dining spaces, sun lounges, and a sauna, as well as a resident-only gym and a ground-floor cafe.

Rhett Williams, Director of Vector Property Australia, said the project will lift the quality of the East Brisbane community and set a new benchmark.

"In Brisbane’s current property landscape, <a href="https://www.apartments.com.au/new-apartments/banksii-east-brisbane-169-wellington-road-east-brisbane-qld-4169">BANKSII</a> stands out through its emphasis on lifestyle-oriented living, connectivity and sophisticated design," Williams says.

[smartcode_project:default project_id=136432 project_image_fid=5479]

The 10-level building has been designed by MAS Architecture. Their designs were inspired by the native Banksia flower, with the architecture and interiors reflecting the organic symmetry of its namesake flora. MAS has interpreted this throughout the building’s curved form, façade detailing and interior palette.&nbsp;

The building’s flowing geometry and natural tones are complemented by large balconies and floor-to-ceiling glazing, maximising cross-breezes, daylight and views over the city, parklands and river.

“Having a strong narrative for a building helps us architecturally,” MAS noted. "We can choose colours that come off that species of flowers. The trunk and the trees and the flower elements all are now visible in our joinery on the inside and in our architectural finishes on the outside."

[smartcode_project:default project_id=136432 project_image_fid=5485]

Apartments will feature timber floors, soft porcelain tiles, brushed bronze fittings, and stone benchtops with warm veining.&nbsp;

Kitchens feature premium SMEG appliances and generous storage, while bathrooms have been designed as calming retreats with curved cabinetry and twin sinks in the master ensuites.

The building will feature a suite of rooftop and wellness amenities. Residents will have access to an infinity-edge pool, BBQ and alfresco dining areas, sun lounges and a rooftop sauna.&nbsp;

A residents-only gym will be located on the podium level, while a ground-floor café and landscaped laneway will further activate the site and improve neighbourhood connectivity.

[smartcode_project:default project_id=136432 project_image_fid=5488]

BANKSII will rise from a prime Wellington Road site, with the building oriented to overlook the adjacent Raymond Park and take in extensive city views. It is also on the doorstep of key&nbsp;lifestyle infrastructure, including the future Kangaroo Point Green Bridge, The Gabba stadium, and the planned Brisbane Live arena.&nbsp;

Public transport options, including ferry, bus and rail - including the future Cross River Rail Woolloongabba station - are all nearby, supporting a car-optional lifestyle just minutes from the CBD.

Williams said the team spent over a year searching for the ideal site before securing this location.

"We were attracted to <a href="https://www.apartments.com.au/developments/east-brisbane-qld-4169">East Brisbane</a> as it is a vibrant and growing community that offers a perfect balance of urban convenience and natural beauty with the parklands and river on our doorstep.”

The project is part of the broader Woolloongabba Games precinct, which is undergoing significant investment in the lead-up to the 2032 Brisbane Olympics. This urban renewal, coupled with infrastructure upgrades, is expected to enhance long-term liveability and capital growth in the area.

Given the wide max of configurations, BANKSII is expected to suit everyone from first home buyers and investors to families and downsizers.

[smartcode_project_cta:default project_id=136432]

BANKSII sales launch in booming East Brisbane apartment market

The Minns Labor Government will deliver Sydney’s first new heavy rail station in more than a decade – enabling up to 10,000 new homes by rezoning land around Woollahra and Edgecliff stations, right next to the CBD, to tackle the housing crisis and rebalance growth across the city.

Recent reports by the NSW Productivity Commission have warned that Sydney is losing twice as many young people as it is gaining, while also finding that Woollahra is the most feasible Local Government Area (LGA) in New South Wales to build new housing.

Despite this, housing approvals in Woollahra consistently lag well behind other LGAs, and the population has declined by 11 per cent over the past 50 years while Greater Sydney as a whole has grown by 74 per cent.

The new station that will be an eight-minute trip from Sydney CBD, will be located on the Eastern Suburbs train line in Woollahra, where a station build was started in the 1970s but never completed.

To enable the delivery of new homes the NSW Government will lead a rezoning of Woollahra and Edgecliff stations similar to other state led rezonings to allow additional homes to be built around the stations.

Affordable housing will also make up a proportion of development on the site with the final amount of affordable housing required, to be determined as part of the rezoning process.

The area surrounding the new station is within walking distance of major green and recreational space including Cooper, Trumper, Rushcutters Bay and Centennial Parks.

The Eastern Suburbs train line between Bondi Junction and Sydney CBD also has the lowest passenger usage rates during the AM peak of any line on the Sydney network, with only 43 per cent of operating capacity during the AM peak currently being utilised by passengers.

Sydney Water and Infrastructure NSW have confirmed there is capacity in the water and wastewater systems to accommodate the proposed 10,000 dwellings without major upgrades.

The rezoning is expected to take around two years and will further support the Government’s housing targets that rebalance the delivery of new homes around existing infrastructure.

&nbsp;

&nbsp;

Next stop Woollahra train station - delivering up to 10,000 new homes in the heart of Sydney

<section data-element_type="section" data-id="b086848">
Fresh off completing its mixed-use Malvern project Malvern Collective, Kokoda Property Group has acquired a prime site on Richmond's Bridge Road.

They are planning a mid-rise residential development with&nbsp;integrated wellness amenities and a vibrant ground-floor retail and dining offering.

The site, at&nbsp;487–495 Bridge Road, spans&nbsp;1,650 sqm with 50 metres of dual frontage across Bridge Road and Palmer Street. It is currently leased to Adairs, and has a large retail building and 20 onsite car parks.
</section>

<section data-element_type="section" data-id="534a164">
Kokoda Property Group’s acquisition forms part of a broader phase of growth in Melbourne, building on momentum from the completion of Malvern Collective and the recent purchase of a Burnley Street site for the developer’s first commercial project.&nbsp;

Mark Stevens, Kokoda Property Group’s Founder and Managing Director, said that the company’s Bridge Road site acquisition signals confidence in a city that is re-accelerating.

“Melbourne is regaining momentum,"&nbsp;Stevens said.

"After a cautious period post-COVID, we’re seeing buyer sentiment stabilise and capital leaning back into well-located, quality projects. Victoria now benefits from deep builder capacity and competitive delivery pricing, creating a rare opportunity to bring design-led inner-city developments to market without compromising on craftsmanship.

“Richmond ticks all the boxes for us – connectivity, culture and everyday amenity – making Bridge Road the perfect address for an amenity-rich, multi-use development."

<img alt="Kokoda" data-entity-type="file" data-entity-uuid="9a8de51d-8092-480a-8b7e-e081816692c2" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202025-08-29%20at%208.54.27%E2%80%AFAM.png?VersionId=VRHpV5.6beOu2cieKHWrw3ErMPuVOAuj" />

Envisioned as an “urban lantern” the building will bring a distinctive new presence to Bridge Road with a sculptural retail frontage, designed to honour the street’s heritage character while contributing to its renewal.

Stevens said the acquisition reflects the developer’s commitment to design-led addresses in Melbourne’s inner city.

“Drawing on Richmond’s rich heritage and dynamic character, we’ve envisioned a contemporary building that respects the past while elevating the way people live today. With dual frontages, curated ground-floor spaces, and a focus on wellness, this project will contribute to the neighbourhood’s evolution, appealing to both downsizers and a new generation of professionals.”

Kokoda Property will now progress concept design ahead of a future planning process.
</section>

Mark Stevens, Kokoda Property Group’s Founder and Managing Director, said that the company’s Bridge Road site acquisition signals confidence in a city that is re-accelerating

First look: Kokoda secures Richmond site for new apartment development

Gold Coast developer Drew Group is fast approaching sell-out at its Main Beach apartment development, Lagoon Main Beach.

In the last nine months, Drew Group and sales partner Pezet Matheson have secured 31 sales totalling over $75 million, as the two-tower development advances towards completion under the expert eye of Hutchinson Builders.

“Today's buyers are more discerning than ever," Drew Group Managing Director Jon Drew says.

"It's essential to provide something truly unique that sets a development apart, and we believe Lagoon has achieved just that."

[smartcode_project:default project_id=108747 project_image_fid=193023]

Just over 50 per cent of recent&nbsp;sales have been to local buyers, reflecting the deep trust and connection within the Gold Coast community that Drew Group has developed over the years.

Demand has been particularly robust at the top end, with two of the three exclusive penthouses already sold, alongside five sub-penthouses. Only seven apartments remain in Lagoon's Signature Series — one&nbsp;penthouse and six sub-penthouses.

[smartcode_project:default project_id=108747 project_image_fid=284864]

Drew Group has also removed the much-maligned sunset clause from all contracts at Lagoon. The sunset clause — although rarely invoked, yet on occasion known to have been — allows developers to take back contracts on apartments should the building not be completed within the timeframe specified in the contract.

Pezet Matheson Co-Director Jayde Pezet says the fact Lagoon is&nbsp;within a year of completion, and has no sunset clause in contracts, provides certainty to buyers.

"This is paramount in the current market," Pezet says.

Drew Group has committed to providing the highest level of security inclusions — none more impressive than the Ubiquity Access Control System, a cutting-edge facial recognition technology that is one of the most state-of-the-art keyless entry systems on the market.

[smartcode_project:default project_id=108747 project_image_fid=190743]

One of the biggest drawcards to Lagoon has been the size of the apartments.

"It is unlikely that any future new development in Main Beach will be able to offer such spacious living at this price point," Drew says.

"Today's buyers are more discerning than ever, carefully evaluating amenities like gyms, spas, workspaces, and beach lockers, along with quality finishes. It's essential to provide something truly unique that sets a development apart, and we believe Lagoon has achieved just that."

Lagoon is set to complete construction in mid-2026.

[smartcode_project_cta:default project_id=108747]

Lagoon Main Beach approaches sell-out as local buyers drive $75m in sales

Surrey Hills

Luxe is a new residential offering in Melbourne’s Surrey Hills, boasting an exclusive collection of 25 residences.

Developed by the Continental Group, the two and three-bedroom offerings feature an impressive catalogue of quality inclusions on Middlesex Road.

[smartcode_project:default project_id=5814 project_image_fid=175473]

Thoughtfully designed by Sgourakis Architects, Luxe features spacious floorplans with a clever orientation that caters to the discerning owner-occupier.

Residents can be reassured by the inclusion of premium Miele kitchen appliances, reconstituted stone benchtops and carefully-selected engineered European oak floors.

[smartcode_project:default project_id=5814 project_image_fid=175464]

The development also includes remote control access to your own basement parking spot and video security.

Surrey Hills is one of the most sought-after locations of the leafy eastern suburbs of Melbourne.

[smartcode_project:default project_id=5814 project_image_fid=175466]

Its peaceful residential streets lined are lined with ornamental pin oaks and plane trees and dotted with a diverse range of cafés and boutique retail stores.

Luxe is located a short three-minute walk from Chatham station, and six minutes from Maling Road.

A selection of preschools, primary and secondary schools, and Swinburne University are easily accessible.

[smartcode_project_cta: project_id=5814]

Luxe is a new residential offering in Melbourne’s Surrey Hills, boasting an exclusive collection of 25 residences. 

max.kwok_55688

Surrey Hills set for new contemporary apartment development, Luxe

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A dainty five-bedroom, three-bathroom Surrey Hills hpouse, just off tree-lined, sold recently at auction.
The Wells Street property, with weatherboard facade, was sold by Woodards estate agents Maria Xu and Richard Kurz for $2.95 million. 
The 780 sqm home with architecturally designed renovations and extensions, features landscaped gardens at the front.
Insidxe there's wide Woodcut engineered flooring and grand entry hall with a clay beaded chandelier. 
The split level home has a front formal lounge with colonial windows which can be used as a sitting room, a kids' play area, or even a fifth bedroom. 
The central living zone with northern orientation spills into the family room that has a gas stone fireplace, and dining zone with four-metre hight ceilings. 
The kitchen is the centrepiece of the home which is fitted with Calacatta Ors porcelain bench tops, Franke dual sink, and premium stainless steel appliances including double AEG ovens and an Asko dishwasher. 
The master ensuite bedroom is situated on the top floor and has a dressing room and private balcony. Meanwhile, the spacious guest bedroom is on the lower level with easy access to a sleek bathroom. The other two bedrooms come with built-in robes, double vanity central bathroom which has floor-to-ceiling tiling, a freestanding bath, standout laundry with a drying room, ducted heating, refrigerated cooling, plush carpet and Calacatta marble.
There are three dedicated outdoor areas including a large garden at the rear with grass space and bluestone paving, an entertaining area accessed via stacker doors from the living zone, and the sizeable front porch and garden.
The property was last sold in 2016 for $1,850,000, and first bought in 1979 for £37,000. 
The most recent five-bedroom house sold on Queen Street was for $3,720,000 in November 2019. 
 
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j.ballantyne1990-6AQqhLzZaK

Dainty Victorian family home in Surrey Hills sold

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The 410 sqm Surrey Hills block, occupied by a scout hall, failed to raise any interest at its weekend auction.
<a href="https://fletchers.net.au/24154/7-robinson-road-surrey-hills" target="_blank">The 7 Robinson Road holding</a> has been listed now at $1.38 million.
It had been listed by David Taylor and John Taylor from Fletchers Canterbury with a price guide of $1.3 million to $1.4 million. 
Scouts Victoria bought the property in 1955 and built the hall. 
The wide frontage block at 7 Robinson Road offers the potential to create a low maintenance home on its own title. 
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2019/6/13/scout%20hall%202.jpg" alt="">
Situated between Chatham and Surrey Hills Stations, it's within walking distance to Surrey Hills Village shops, supermarket, cafes plus nearby Canterbury Sports Ground and Chatham Primary School. 
 
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1st Boroondara Scout Hall, Surrey Hills fails to sell

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A 410 square metre Surrey Hills block, occupied by a scout hall, will go under the hammer on June 22.
It has been listed by David Taylor and John Taylor from Fletchers Canterbury with a price guide of $1.3 million to $1.4 million. 
The wide frontage block at 7 Robinson Road offers the potential to create a low maintenance home on its own title. 
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2019/6/13/scout%20hall%202.jpg" alt="">
Situated between Chatham and Surrey Hills Stations, it's within walking distance to Surrey Hills Village shops, supermarket, cafes plus nearby Canterbury Sports Ground and Chatham Primary School. 
Scouts Victoria bought the property in 1955 and built the hall. 
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2019/6/13/scout%20hall%203.jpg" alt="">
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Surrey Hills scout hall to go under the hammer

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One of the latest planning applications to be advertised via City of Boroondara underlines the growing ambitions of Balwyn-based developer Melstone.

352-358 Canterbury Road is Melstone's latest endeavour, having enlisted Elenberg Fraser to deliver a design that will capitalise upon Melstone's confidence in Melbourne's local apartment market. The Surrey Hills project intends to replace a permit for a more modest Neil Architecture-designed scheme of 29 predominantly townhouse dwellings.

Conversely Melstone hopes to yield 42 apartments across the 5 level proposal which has a development cost of $20 million. Asked by Apartments.com.au, Melstone says the Surrey Hills project will squarely be aimed at local downsizers and owner occupiers.

<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/image86_6.jpg" rel="gallery-all" title="Wide pan view of 352-358 Canterbury Road. Image: Melstone"><img alt="" class="image-article-full-width-580px" height="280" src="/sites/urban.melbourne/files//styles/article_full_width_580px/public/pictures/article-images/image86_6.jpg?itok=AvNG0ezA" title="Wide pan view of 352-358 Canterbury Road. Image: Melstone" width="580"></a>

<figcaption>Wide pan view of 352-358 Canterbury Road. Image: Melstone</figcaption></figure>352-358 Canterbury Road has been positioned to become the area's premier apartment development, as described by urban planning agency proUrban:

<blockquote>
The proposed development presents an elegant, mid-rise, mixed-use building of architectural excellence on an underutilised inner-urban landholding. The building proposes to reinforce an emerging character of mid-rise buildings, as emphasised within planning policy and evidenced through recent planning approvals in the area for buildings of increased scale.
</blockquote>

As a result the Surrey Hills proposal's apartment split sees 4 single, 25 double and 13 triple bedroom apartments.

Surrey Hills though is not the only apartment development on Melstone's agenda. A display suite sits at the ready at 33-35 Ringwood Street, after the DKO Architecture-designed application gained approval during April.

<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/image87_3.jpg" rel="gallery-all" title="33-35 Ringwood Street. Image: DKO Architecture"><img alt="" class="image-article-full-width-580px" height="327" src="/sites/urban.melbourne/files//styles/article_full_width_580px/public/pictures/article-images/image87_3.jpg?itok=kURsXIkk" title="33-35 Ringwood Street. Image: DKO Architecture" width="580"></a>

<figcaption>33-35 Ringwood Street. Image: DKO Architecture</figcaption></figure>The Ringwood development is a seven storey mixed use project consisting of a basement car park, ground floor retail spaces and apartments above. Apartments.com.au <a href="/news/ringwoods-has-600-apartments-under-construction-as-a-new-project-nears-launch">recently highlighted</a> the currently robust Ringwood apartment market, with 600 apartments now under construction.

Melstone expect 33-35 Ringwood Street to launch in coming months, and will be aimed at capitalise upon the underlying demand for apartments in the suburb.

Melstone's largest project was a Box Hill apartment development which they successfully sold during 2017 with a permit in place. 16-22 Wellington Road includes approximately 130 apartments over 14 levels in another design conceived by Elenberg Fraser.

The Box Hill project entered planning during early 2016 under the guidance of Melstone and found approval late in the same year.

Melstone's rise to prominence is reflective of many Melbourne developers who began with small-scale apartment or townhouse pursuits and have progressed to more robust developments, mirroring the growing appetite for apartments across wider Melbourne.

<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/image84_10.jpg" rel="gallery-all" title="Box Hill's 16-22 Wellington Road. Image: Elenberg Fraser"><img alt="" class="image-article-full-width-580px" height="539" src="/sites/urban.melbourne/files//styles/article_full_width_580px/public/pictures/article-images/image84_10.jpg?itok=rBSxb3Jn" title="Box Hill's 16-22 Wellington Road. Image: Elenberg Fraser" width="580"></a>

<figcaption>Box Hill's 16-22 Wellington Road. Image: Elenberg Fraser</figcaption></figure>
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silvermb

Melstone moves on Melbourne's eastern suburbs

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A freehold property which in Surrey Hills in Melbourne's east is being marketed towards investors and owner-occupiers.
It has been the home to a GP for over 40 years. The current rental is $50,000 per annum on a monthly term.
The 180 sqm, two storey property at <a href="https://www.realcommercial.com.au/property-retail-vic-surrey+hills-502774046" target="_blank">922 Riversdale Road</a> last traded for $60,000 in 1980.
It sits on a 252 sqm site zoned commercial 1.
Teksa Carson agents Fergus Evans and Michael Ludski are marketing the property for a May 23 auction.
Evans says the property is being offered an excellent investment or owner occupier opportunity in a tightly held precinct featuring a wide range of commercial office buildings, retail boutiques and restaurants.
"The property would suit a range of buyers and uses under the Commercial 1 zoning, including prior use rights, with excellent potential for capital growth in a prime location in one of Melbourne’s most popular and tightly held retail precinct."
"The property benefits from ample amenity in the immediate vicinity and outstanding educational institutions nearby, as well as access to major arterial routes including Riversdale Road and Warrigal Road,’’ Mr Evans said.
Ludski said he expected a high level of enquiry given recent strong interest in similar properties in the inner east.
"Well located properties in the inner east are very much in demand from small investors and owner-occupiers looking for strong market fundamentals,’’ Mr Ludski said.
He said the property’s close proximity to the CBD, freeways and public transport were additional attributes that would prove advantageous to any purchaser.
 
 
 
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jrobinson-rf4aSBido9

Surrey Hills freehold property for sale

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Teska Carson is marketing a securely leased dental surgery investment at Surrey Hills in Melbourne’s eastern suburbs.
The property will be auctioned on March 29 with expectations it will fetch more than $1.2 million.
The suite 2, 109 Union Road (corner of Windsor Crescent) property comprises a 187 square metre premises.
Zoned Commercial 2, it comes with six car spaces including three underground.
The property is located directly opposite Surrey Hills Railway Station in a modern commercial complex, within the sought after and well-established Surrey Hills shopping village.
Teska Carson’s Tom Maule and Mathew Feld have the listing.
The surgery consists of a spacious reception/waiting room, two surgeries, a sterilisation area.
Two offices, a large storage area, lab area and kitchen/staffroom breakout area are also featured in the property.
The property is currently leased to a longstanding tenant on a five year term with a five year option at $76,784 per annum.
Mr Maule said the property represented an outstanding medical investment in a tightly held location which would continue to see strong capital growth.
"This exceptional investment is positioned in the heart of this inner-eastern, blue chip, location just metres from public transport and within the popular Surrey Hills retail precinct.
It will attract quite a deal of interest based on the location, the secure lease to a well-established, long standing tenant, and the strong potential for capital growth in a much sought after and highly regarded suburb,’’ Mr Maule said.
Mr Feld said the property was an ideal investment for the passive investor looking for an opportunity to add a retail asset to their portfolio.
"Surrey Hills lies within Melbourne’s demographic centre, an area which continues to attract strong residential growth which in turn drives retail and commercial returns.
"The precinct has an excellent tenancy history with little to no vacancy and that is a reflection of the strong demand from the surrounding residential catchment,’’ Mr Feld said.
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Dental surgery investment at Surrey Hills

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Melbourne's five bedroom trophy home Zermatt, in Surrey Hills, has sold for $5,655,000 at private auction.
The home, 16 Tower St Surrey Hills, was built in 1914 and features northern views to the ranges, a resort-style tennis court and pool over 1515sqm.
It also features two study areas, a games room with cathedral ceilings, butler's pantry and rooftop terrace.
It sold through Kay &amp; Burton's Judy Balloch and Scott Patterson.
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Surrey Hills, Melbourne trophy home Zermatt sold

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A securely leased retail property in Melbourne’s Surrey Hills was recently snapped up by a local investor on a tight yield of 4.16 percent. 
The 540 Whitehorse Road property comprises a 210 square metre building over two levels on a 217 square metre site. 
Located within a well-established retail strip, which includes a number of restaurants and cafes, the property sold $300,000 above expectations. The transaction price wasn’t disclosed.
The property was sold subject to a five-year lease with a five-year option to long-standing tenant, Triple King Chinese Restaurant, at $62,400 per annum.
The selling agents were Teska Carson’s Anthony Choi and Michael Taylor.
According to the agents, the expressions of interest campaign attracted strong interest from both local and offshore investors. 
“This was clearly an attractive property which ultimately sold at a 30 per cent premium over the last comparable transaction in the vicinity - a great result for the vendor and a great result for property values in the area,” said Choi.
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jonathanchancellor-7SQnKwU6yx

Shop leased to Chinese food outlet in Melbourne's Surrey Hills sells on tight yield

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A 19th century building in Melbourne’s Surry Hills has two new corporate tenants.
The corner building at 613 Canterbury Road, Surrey Hills (above) will house Melbourne start-up and financial services provider Selfwealth, and 51 Pay.
Selfwealth will occupy 330 square metres on level 1, while 51 Pay will move into level 2, also 330 sqm. 
Both have rented the spaces at $250 per sqm with $50 per sqm on outgoings. Car spaces are leased at $120 per space per month.
Fitzroys agents Martin Huang and Michael Ryan negotiated the deals in the three-level building.
The building was constructed in 1888 as the Surrey Family Hotel, “Surrey Lodge”, and was closed by a poll in 1920. It was renovated in 1939 and made into shops and a guest house, which was followed by another makeover in the 1990s.
 
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