<a href="https://www.apartments.com.au/developments/broadbeach-qld-4218">Broadbeach</a> offers plenty of reasons to live vertically, but moving from a substantial family home into an apartment can expose the compromises of high-density living. Privacy, room for guests and usable living space tend to matter more when an apartment is intended as a permanent home rather than an occasional coastal base.

A typical residential floor at <a href="https://www.apartments.com.au/new-apartments/the-eveleigh-broadbeach-7-9-surf-parade-broadbeach-qld-4218">The Eveleigh</a>, on Surf Parade,&nbsp;contains just four apartments. The 94-residence development by <a href="https://www.apartments.com.au/developers/hirsch-faigen">Hirsch &amp; Faigen</a> is predominantly made up of expansive three-bedroom homes, with a limited collection of half-floor penthouses above.

Across the apartment floors, <a href="https://www.apartments.com.au/architects/rothelowman">Rothelowman</a> has used the relatively limited number of residences to give each home greater access to natural light and outlook. Living spaces extend towards full-height glazing, while a series of bay windows frame selected views across the Pacific Ocean, city and hinterland rather than treating the building edge as a continuous wall of glass.

&nbsp;

[smartcode_project:default project_id=149670 project_image_fid=360965]

“The apartment floors deliver a collection of homes that embrace controlled outlook via a series of bay windows deliberately framing moments of view,” Rothelowman Director Kim Lowman said.

From outside, those projecting forms contribute to the tower’s faceted profile. Strong horizontal and vertical elements establish its proportions, while the changing position of the sun alters the light, shadow and reflection across the façade throughout the day.

The same attention moves inside the apartments, where the material palette combines warm timber, natural stone, metallic detailing and softer curved forms. Kitchens sit within the main living zone, with stone island benches, integrated joinery and European appliances, before the living areas extend towards the glazing and the outlook.

&nbsp;

[smartcode_project:default project_id=149670 project_image_fid=360981]

Three genuine bedrooms provide room to accommodate family and guests, while two secure car spaces and storage address some of the practical considerations that can become more noticeable when moving from a larger home. Feedback from the display suite has centred on the warmth and restraint of the interiors, with buyers commenting that the residences feel like homes rather than conventional coastal apartments.

A limited collection of half-floor penthouses occupies the upper levels, increasing the scale of the living spaces and adding private balconies and elevated finishes. From this position, the outlook extends between the ocean and hinterland.

Outside the private residences, The Eveleigh separates its shared spaces between the podium and rooftop. The podium is centred on wellness, with subtropical landscaping surrounding a swimming pool and pool terrace, yoga garden, private gymnasium, sauna and hot and cold plunge facilities. Landscaped retreats and pavilions provide additional places to sit away from the main recreation areas.

&nbsp;

[smartcode_project:default project_id=149670 project_image_fid=360966]

Higher in the building, a rooftop pavilion and private dining suite sit alongside resident lounge, barbecue and outdoor dining areas, opening towards panoramic views across the ocean, city and hinterland.

“Buyers are no longer just looking for an apartment, but a lifestyle where they can relax, reset, and enjoy a balanced way of living,” Hirsch &amp; Faigen Director of Sales Matt George said.

Interest to date has come from established owner-occupiers and interstate lifestyle purchasers, including buyers planning a future move to the Gold Coast. Many are coming from larger homes and want to reduce ongoing maintenance without giving up space for family and guests, privacy, two car spaces or the ability to entertain at home.

&nbsp;

[smartcode_project:default project_id=149670 project_image_fid=360969]

Much of that daily life can also take place beyond the building without requiring a drive. Kurrawa Beach and Pratten Park are an easy walk from Surf Parade, while Pacific Fair, Oracle Boulevard, The Oasis, restaurants, cafés, entertainment and public transport are also within walking distance.

The Eveleigh is Hirsch &amp; Faigen's fourth Gold Coast development since entering the market in 2021, following The Hemingway at Palm Beach, The Emerson at Kirra and Yves at Mermaid Beach. Each of the preceding projects sold out before completion.

“Broadbeach had been on our radar throughout our time operating on the Gold Coast,” the developer said. “Following our projects in Palm Beach, Kirra and Mermaid Beach, Broadbeach represented the natural next step for the business.”

The Surf Parade site brought together proximity to the beach, protected coastal outlooks and walkability to dining, shopping and recreation. Hirsch &amp; Faigen also identified the street as an emerging premium residential address, with enough separation from Broadbeach's busier destinations to retain a quieter environment at home.

The Eveleigh is now under construction by Maxcon, with completion forecast for mid-2028. Three-bedroom residences are currently available from $2.87 million.

[smartcode_project_cta:default project_id=149670]

Joel Robinson

The Eveleigh brings house-like apartments to Broadbeach

A long-stalled Campbelltown development site is back in play, with new plans for 139 apartments set to supersede a mixed-use scheme approved almost a decade ago but never built.

The new proposal for 28 Cordeaux Street would deliver 116 market and 23 affordable apartments in a part 14-storey building, bringing a substantial new project into a Campbelltown market where new apartment supply remains limited.

Plans have been filed over the 3,092 sqm corner site at Moore-Oxley Street, around 600 metres from Campbelltown Railway Station and the city-centre retail core.

The site already carries a mixed-use residential approval dating to 2016. Doroch Architects has now been engaged on a larger replacement scheme, which is progressing as a State Significant Development Application following a Housing Delivery Authority determination in August 2025.

The apartment mix comprises 39 one-bedroom, 72 two-bedroom and 28 three-bedroom residences. Two-bedroom apartments make up just over half of the project, while three-bedroom homes account for 20 per cent.

<img alt="First look: New 139-apartment plans revive long-stalled Campbelltown city centre site" data-entity-type="file" data-entity-uuid="136dd5b9-3791-4da6-9e31-76f533f5b4de" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Campbelltown%20da2.png?VersionId=LgOSy9nwf5u.MGswBBwaGGxuX8QpHSl_" />

Of the 139 apartments, 23 will be delivered as affordable housing under the in-fill affordable housing provisions of the Housing SEPP. The affordable component represents 15 per cent of the residential gross floor area and will be managed by a registered Community Housing Provider.

Doroch has sought to break the scale of the building into two distinct elements, with a masonry podium of around four storeys establishing the street edge before the residential tower steps back above.

The corner position has shaped that approach. Cordeaux Street faces toward the commercial and civic centre, while Moore-Oxley Street leads into the lower-scale residential neighbourhood to the south, and the design verification report describes the site as "bridging the commercial core to the north and established residential areas to the south."

The podium will be expressed predominantly in face brick, while the upper levels shift to brushed and grooved concrete cladding with darker metal detailing. Recessed sections, deep balcony edges and landscaping break down the upper form, with an approximately 11.8-metre setback to the northern boundary addressing the adjoining St Peters Anglican School.

<img alt="First look: New 139-apartment plans revive long-stalled Campbelltown city centre site" data-entity-type="file" data-entity-uuid="c8b3d2d3-c561-4bfc-a5d9-a68c0c10dac1" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Campbelltown%20da1.png?VersionId=AeAEyJU02Gk2k5noUj2StziCvdQ7fW4B" />

Campbelltown has been starved of new residential developments in the last decade.

The only other notable development set to come to market this year is ALAND's Queen Square, a mixed-use precinct on over two hectares that will comprise apartments above a vibrant ground-level retail and hospitality dining precinct.

First look: New 139-apartment plans revive long-stalled Campbelltown city centre site

First Look: Sherlock Construction pitches apartments for low-rise Deception Bay

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.

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

<main data-perf-region="main">
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]

<h3 data-end="3697" data-section-id="q3n5ak" data-start="3672">&nbsp;</h3>
</main>

Nova Rêve arrives as Reve Group bets on Castle Hill's next growth phase

Sydney

<html><body>
Last week there was an ordinary 53% auction success rate when 34 homes were offered in Sydney's eastern suburbs.
But last night it worsened to a 42% clearance rate on the official list of 35 offerings.
Most of the sales - some nine in total - were locked in prior, so on the night there were just six sales.
The six declared sales on the night sales ranged from $450,000 in Ruschutters Bay to $2.06 million in Clovelly.
There were undisclosed negotiations after a $5.65 million Rose Bay property was passed in by LJ Hooker agent Alain Waitsman which resulted in an undisclosed higher priced sale.
There were some bright spots with five registered parties on a Randwick offering through Goodyer Real Estate.
The initial shock 53% auction clearance rate came when 34 eastern suburbs listings were put under the hammer on 7 April through Cooley Auctions.
"It had to happen," one agent told Property Observer after the clearance rate dipped to just 42%.
"Up to $2 million is still okay," another agent advised.
Last night had six properties passed in with prices between $900,000 in Redfern and $5.3 million in Woollahra. Significantly five of them were on a vendor bid, suggesting acute buyer hesitation or even absence.
There was also 14 official withdrawals or postponements.
That's 40% of the offerings that were pulled from auction given the unsustainable pre-Easter swelling in supply. But another factor was Jewish passover.
The 42% clearance rate was well below the 75% plus that has become the norm in the latter stages of the 11 auction weekends so far this year.
As indicated over the past few weeks, Property Observer has sensed the slight turn in market sentiment with the results suggesting some vendors have got too greedy, some buyers are getting understandably cautious at not overpaying, and some estate agents have got a bit slack at doing their job of knocking heads together.
<table>
<colgroup>
<col width="180">
<col width="75">
<col width="55">
<col width="190">
<col width="90">
</colgroup>
<thead><tr>
<th>
Property
</th>
<th>
Result
</th>
<th>
Price
</th>
<th>
Agency
</th>
</tr></thead>
<tbody>
<tr>
<td>7 Brisbane Street Bondi Junction</td>
<td>Passed In (VB)</td>
<td>$1,100,000</td>
<td><a href="https://www.raywhitebj.com.au/" target="_blank">Ray White Bondi Junction/Coogee</a></td>
</tr>
<tr>
<td>3/240 Bondi Road Bondi</td>
<td>Sold Prior</td>
<td>$812,000</td>
<td><a href="https://www.rhbondibeach.com.au/" target="_blank">Raine &amp; Horne Bondi Beach</a></td>
</tr>
<tr>
<td>38 Pauling Street Coogee</td>
<td>Withdrawn</td>
<td>-</td>
<td><a href="https://www.belleproperty.com/bondijunction" target="_blank">Belle Property Bondi Junction</a></td>
</tr>
<tr>
<td>2/1 Caledonian Road Rose Bay</td>
<td>Passed In (VB)</td>
<td>$1,280,000</td>
<td><a href="https://www.cooleyauctions.com.au/www.ppdre.com.au" target="_blank">Phillips Pantzer Donnelley</a></td>
</tr>
<tr>
<td>2/208 Gardeners Road Kingsford</td>
<td>Sold Prior</td>
<td>undisclosed</td>
<td><a href="https://www.mint360property.com.au/" target="_blank">Mint360property</a></td>
</tr>
<tr>
<td>71 wentworth Street Vaucluse</td>
<td>Withdrawn</td>
<td>-</td>
<td><a href="https://www.alisoncoopes.com/" target="_blank">Agency by Alison Coopes</a></td>
</tr>
<tr>
<td>G619/780 Bourke Street Redfern</td>
<td>Passed In (VB)</td>
<td>$900,000</td>
<td><a href="https://www.mortonandmorton.com.au/" target="_blank">Morton &amp; Morton</a></td>
</tr>
<tr>
<td>296 Clovelly Road Clovelly</td>
<td>Sold Prior</td>
<td>$1,987,500</td>
<td><a href="https://www.belleproperty.com/bondijunction" target="_blank">Belle Property Bondi Junction</a></td>
</tr>
<tr>
<td>10/2A Darling Point Road Darling Point</td>
<td>Postponed</td>
<td>-</td>
<td><a href="https://www.ljlevi.com.au/" target="_blank">LJ Levi Real Estate</a></td>
</tr>
<tr>
<td>106/12 Macleay Street Potts Point</td>
<td>Passed In (VB)</td>
<td>$1,350,000</td>
<td><a href="https://www.belleproperty.com/pottspoint" target="_blank">Belle Property Potts Point</a></td>
</tr>
<tr>
<td>6/118 Curlewis Street Bondi Beach</td>
<td>Sold Prior</td>
<td>$590,000</td>
<td><a href="https://www.belleproperty.com/bondijunction" target="_blank">Belle Property Bondi Junction</a></td>
</tr>
<tr>
<td>693A Old South Head Road Vaucluse</td>
<td>Postponed</td>
<td>-</td>
<td><a href="https://www.ljlevi.com.au/" target="_blank">LJ Levi Real Estate</a></td>
</tr>
<tr>
<td>3/45 Birriga Road Bellevue Hill</td>
<td>Passed In</td>
<td>$950,000</td>
<td><a href="https://www.ljlevi.com.au/" target="_blank">LJ Levi Real Estate</a></td>
</tr>
<tr>
<td>6/257-261 Carrington Road Coogee</td>
<td>Sold Prior</td>
<td>undisclosed</td>
<td><a href="https://www.mybhr.com/" target="_blank">BHR Estate Agents</a></td>
</tr>
<tr>
<td>1 Judge Street Randwick</td>
<td>Sold</td>
<td>$1,375,000</td>
<td><a href="https://www.goodyer.com.au/" target="_blank">Goodyer Real Estate</a></td>
</tr>
<tr>
<td>19 Olphert Avenue Vaucluse</td>
<td>Postponed</td>
<td>-</td>
<td><a href="https://www.rhdb.com.au/" target="_blank">Raine &amp; Horne Double Bay</a></td>
</tr>
<tr>
<td>4/42 Bayswater Road Rushcutters Bay</td>
<td>Sold</td>
<td>$445,000</td>
<td><a href="https://www.enr.com.au/" target="_blank">Eastern Network Realty</a></td>
</tr>
<tr>
<td>2/51 Wolseley Road Point Piper</td>
<td>Withdrawn</td>
<td>-</td>
<td><a href="https://www.ballardproperty.com.au/" target="_blank">Ballard Property</a></td>
</tr>
<tr>
<td>50 Shackel Avenue Clovelly</td>
<td>Sold</td>
<td>$2,060,000</td>
<td><a href="https://www.ljlevi.com.au/" target="_blank">LJ Levi Real Estate</a></td>
</tr>
<tr>
<td>19 Broughton Street Paddington</td>
<td>Postponed</td>
<td>-</td>
<td><a href="https://www.1stcity.com.au/" target="_blank">1st City Hasemer + Caldwell-Eyles</a></td>
</tr>
<tr>
<td>301/1 Hollywood Avenue Bondi Junction</td>
<td>Sold</td>
<td>$1,150,000</td>
<td><a href="https://www.belleproperty.com/pottspoint" target="_blank">Belle Property Potts Point</a></td>
</tr>
<tr>
<td>8/28 Oxford Street Woollahra</td>
<td>Withdrawn</td>
<td>-</td>
<td><a href="https://www.ljlevi.com.au/" target="_blank">LJ Levi Real Estate</a></td>
</tr>
<tr>
<td>42 Hopetoun Street Paddington</td>
<td>Withdrawn</td>
<td>-</td>
<td><a href="https://www.bradfieldcleary.com.au/" target="_blank">BradfieldCleary</a></td>
</tr>
<tr>
<td>12/130-138 Avoca Street Randwick</td>
<td>Postponed</td>
<td>-</td>
<td><a href="https://www.mint360property.com.au/" target="_blank">Mint360property</a></td>
</tr>
<tr>
<td>303/281 Elizabeth Street Sydney</td>
<td>Sold Prior</td>
<td>$975,000</td>
<td><a href="https://www.wilsonproperty.com.au/" target="_blank">Wilson Property Agents</a></td>
</tr>
<tr>
<td>1/1 Ocean Street Woollahra</td>
<td>Withdrawn</td>
<td>-</td>
<td><a href="https://www.cooleyauctions.com.au/www.ppdre.com.au" target="_blank">Phillips Pantzer Donnelley</a></td>
</tr>
<tr>
<td>2 Forbes Street Paddington</td>
<td>Sold</td>
<td>$1,250,000</td>
<td><a href="https://www.charlesstuart.com.au/" target="_blank">Charles &amp; Stuart</a></td>
</tr>
<tr>
<td>13/366 Edgecliff Road Woollahra</td>
<td>Sold Prior</td>
<td>$1,225,500</td>
<td><a href="https://www.ljhooker.com.au/doublebay" target="_blank">LJ Hooker Double Bay</a></td>
</tr>
<tr>
<td>271A Old South Head Road Bondi Beach</td>
<td>Withdrawn</td>
<td>-</td>
<td><a href="https://www.ljlevi.com.au/" target="_blank">LJ Levi Real Estate</a></td>
</tr>
<tr>
<td>2 Wallaroy Crescent Woollahra</td>
<td>Passed In (VB)</td>
<td>$5,300,000</td>
<td><a href="https://www.alisoncoopes.com/" target="_blank">Agency by Alison Coopes</a></td>
</tr>
<tr>
<td>8/20 Abbott Street Coogee</td>
<td>Sold Prior</td>
<td>$750,000</td>
<td><a href="https://www.mybhr.com/" target="_blank">BHR Estate Agents</a></td>
</tr>
<tr>
<td>3/56 Wilberforce Avenue Rose Bay</td>
<td>Withdrawn</td>
<td>-</td>
<td><a href="https://www.ljlevi.com.au/" target="_blank">LJ Levi Real Estate</a></td>
</tr>
<tr>
<td>1 Cecil Road Rose Bay</td>
<td>Sold</td>
<td>undisclosed</td>
<td><a href="https://www.ljhooker.com.au/doublebay" target="_blank">LJ Hooker Double Bay</a></td>
</tr>
<tr>
<td>3/6 Pine Street Randwick</td>
<td>Sold Prior</td>
<td>undisclosed</td>
<td><a href="https://www.mybhr.com/" target="_blank">BHR Estate Agents</a></td>
</tr>
<tr>
<td>7/33 Kimberley Street Vaucluse</td>
<td>Withdrawn</td>
<td>-</td>
<td><a href="https://www.ljlevi.com.au/" target="_blank">LJ Levi Real Estate</a></td>
</tr>
</tbody>
</table>
</body></html>

jchancellor-FAypfDUnLy

Sydney's eastern suburb auction overload sees 42% clearance rate after 14 withdrawals

<html><body>
The cheapest Sydney property sold on the mega pre-Easter super Saturday was a 15 square metre studio in the Belgenny, Surry Hills apartment block which fetched $220,000.
That's $14,600 a square metre in the 1937 art deco block.
It was on the third floor at <a href="https://www.domain.com.au/property/for-sale/studio/nsw/darlinghurst/?adid=2011063994" target="_blank">305/389 Bourke Street</a> on the Campbell Street corner, overlooking Taylor Square, selling through through Bill Lazaris Real Estate in conjunction with Raine &amp; Horne Commercial agent Jayne Edwards.
It last sold at $124,500 in 2006, reflecting seven percent price growth, and before that at $68,000 in 1995, $53,5000 in 1993 and $53,000 in 1992.
The studio, which overlooks the lively Taylor Square, was offered vacant possession but with a current annual rental income of $14,300 - around $275 a week since tenanted in mid-2011 - reflecting a 6.5% yield.
The light filled 15 square metre studio was offered in original condition with kitchenette and bathroom.
It was marketed by the local agent Bill Lazaris as a "great investment opportunity for your SMSF, inner city pad or first home buyers.
Bill Lazaris told Property Observer the investor buyer had already asked the tenant to vacant when convenient so a renovation can get underway.
"It offers a pretty good return as is," he added.
There were eight registered buyers who attended the 15 square metre studio auction which was held concurrent with the auction of a same floor 34 square metre studio unit that fetched $320,000, up from its $245,000 sale in 2008. It had a $20,800 annual income, again reflecting a 6.5% rental yield and 4.3% annual price growth during the past six years.
Mr Lazaris told Property Observer he has secured a $200,000 sale late last year in the nine storey apartment block that reflected $16,600 a square metre sale price.
Strong seven percent price growth isn't guaranteed highlighting the importance of not overpaying.
A recent seventh floor one bedroom sale at $352,500 was only marginally higher than the $320,000 sale secured in boom time 2003 when offloaded by the Cameron Oates Property group. Its price growth during the decade was not even one percent per year. It has since become available at $400 a week rental, reflecting 5.9% rental yield.
The most expensive property sold on Sydney’s mega super Saturday was a Northwood waterfront with the lower north shore offering selling for $4.95 million with three registered parties.
With views over Woodford Bay<a href="https://www.mcgrath.com.au/buy/house-northwood-nsw-2066/217756/?searchID=38320798" target="_blank"> from its 845 square metre holding</a>, 111B Northwood Road, Northwood, attracted a $4.6 million opening bid.
It was passed in at $4.75 million selling shortly afterwards, reflecting $5,850 a square metre.
McGrath agent Brent Courtney told Fairfax Media that the vendor's selling reserve was “adjusted” during the negotiations.
Canterbury Bankstown reported the highest regional clearance rate in Sydney at the weekend with a strong 89.1% result.
The next best district was Sydney's northern beaches at 85.5% followed by the south with 83.3%, the lower north with 82%, and the north west with 81.8%.
The inner west's 81% represented the district being in the unusual position of being at the weaker end of the auction market.
"Sydney’s record-breaking early autumn auction market takes a well-earned breather over the next two weekends with the distractions of the Easter and ANZAC Day holiday breaks," APM's senior economist Dr Andrew Wilson said.
"The market will pick-up over the weeks following the break but lower buyer and seller activity can be expected moving into the typically quieter winter period.
"Not surprising perhaps given record listing numbers, Saturday’s clearance rate failed to reach 80% for the first time this year.
"After recording 10 consecutive weekends with a clearance rate at or above 80% since 1 February, the market stepped back just a fraction for a nonetheless strong 78.1% result.
"Although record listing numbers were a factor in a reduced clearance rate this weekend, the result nevertheless adds to the recent downward trend that indicates a moderating of buyer activity as affordability constraints start to bite in the market," he added.
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Art deco Surry Hills studio sells for $220,000 reflecting 7% annual growth

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The private investment firm MGC Wealth Pty Ltd has purchased a vacant land block in Wolli Creek from a private vendor that has the potential for a residential development.
The $3.16 million sale, at 15-17 Gertrude Street, is an 840 square metre block of vacant land that could house a boutique block of 20 apartments.
<a href="/news">Wolli Creek</a>, located in South Sydney, is in the City of Rockdale.
Knight Frank senior executive, industrial - South Sydney, Adam Bodon, said that the block, near Wolli Creek train station, Woolworths and opposite Cahill Park, is a rare opportunity.
“This property represented an extremely rare opportunity to create a boutique development in this rapidly evolving precinct. The end product will have a clear point of difference against most other developments in Wolli Creek due to this site’s incredible amenity, location and aspect," he said.
It was negotiated by Knight Frank's Adam Bodon.
The site is also close to Sydney International Airport. Currently, Getrude Street sits on the list of those affected to some degree by noise.
Council plans from 2010 suggested that around six storeys may be able to be built on the site, to ensure that there won't be too many buildings in the development's shadow.
Wolli Creek has been suggested as <a href="/expert-insights/investing/sydney-s-wolli-creek-and-melbourne-s-parkville-among-strong-performers-as-australand-forecasts-improved-residential-performance-in-second-half-of-2013">a strong area for off the plan sales</a> for some time. Buyer demand has previously brought forward other releases, such as <a href="/news/buyer-demand-brings-forward-southbanks-second-stage-in-wolli-creek">Southbank development, which expects to be completed in 2016</a>.
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Potential residential development for Wolli Creek after $3.16 million sale

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Causing waves in Sydney's gay community, LGBTIQ icon Midnight Shift in Darlinghurst, at 85 to 91 Oxford Street, is up for sale, with two retail shops - up to 95 Oxford Street. The longest running Oxford Street hotel, with 31 years under its belt, has been a loved part of the street's culture for many years, but it appears its days may be numbered.
Samesame.com.au suggest that the closure may be due to a lack of business, with opening nights reduced from seven to four nights this month, but reassured that the venue is open for business as usual until the sale date. Midnight Shift began charging for shows in 2011, but has still been referred to as a "must attend" venue. The downstairs bar has remained free, but charges were increased to head to Upstairs Shift.
<img src="/images/bar.png" alt="">
<img src="/images/bar2.png" alt="">
The reduction of nights open was said to be due to changes in liquor legislation and the impact of a five-year freeze on the CBD entertainment precinct, the promotions manage for the venue, Leigh Harder, said in March.
While some have taken to Facebook lamenting the loss of an icon, it does provide a good chance for an opportunistic business and party-minded new owner to grab one of Oxford Street's renowned venues with 28 metre frontage.
<img src="/images/decor.png" alt="">
<img src="/images/pokey.png" alt="">
On approximately 849 square metres and being offered with vacant possession tenure, the colourful <a href="https://www.realcommercial.com.au/property-land+development-nsw-darlinghurst-501111067" target="_blank">Real Commercial listing was put up today</a>.
The listing notes that it is within "one of Australia's premier entertainment and retail precincts on the edge of Sydney," and that "Valuable hotel license and entitlements that can be purchased with the sale".
It has dual street access.
93 Oxford Street, which appears to be included in the listing, is Liquor on Oxford, which was sold in 2008 with a first level office lease to Midnight Shift on a 5+5 year lease commencing in September 2008 and a 5+5 year retail lease to House of Fetish from August 2008. The other shop appears to be a Pad Thai (pictured below) at present. According to RP Data, the November 2008 sale for 85-91 Oxford Street was for $8,250,000, settling in December. Before that it had been sold in 1994 for $3,300,000, with one other previously recorded sale - in 1992 for $2,900,000.
<img src="/images/pad%20thai.png" alt="">
Expressions of interest are closing 21st May 2014 after its listing today. Disco dancing, a stage and everything theatrical, Midnight Shift has been home to many a memorable night, including colourful Strip Karaoke, that will see some mourning its sale.
<img src="/images/theatre.png" alt="">
It is being advertised through Oxford Commercial, and sits between the Lick-Her Shop and House of Fetish.
It is currently owned by Arunta Investments after the 2008 sale, previously with the Midnight Shift title being in the hands of long-time owner Tim Berry, in a <a href="https://www.propertyobserver.com.au/https://www.starobserver.com.au/news/local-news/new-south-wales-news/berry-sells-midnight-shift/30033" target="_blank">somewhat bitter situation reported on by the</a> Star Observer back in 2010.
“Weighing the pros and cons of that, Tim decided that it was probably time that [Arunta executive director] Mark Madar gets the place and experiences for himself what it takes to run a pub," they reported Berry's partner Clarence Cruz as saying.
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Oxford Street, Sydney's oldest gay hotel venue up for sale

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Shanghai-based Greenland Group are behind <a href="https://www.greenlandcentre.com.au" target="_blank">Greenland Centre</a>, the tallest residential tower in Sydney and their first foray into the heart of the CBD, and they are set to launch their second stage tomorrow with expected significant Chinese interest.
It seems Chinese buyers are, unsurprisingly, being actively marketed to - with the entire site, at a click of a button, translatable to Chinese, and a similar tower, Wuhan Greenland Centre, under construction in Wuhan, China, from the same developer. Marketing efforts are expected to be rolled out in Shanghai, Singapore and Hong Kong. In fact, Wuhan's building has also been reported overseas as likely to be the third tallest building in China, and the fourth tallest in the world at around 600 metres, making them no stranger to heading skyward.
<img src="/images/2014/04/11/greenland-april-11-one.jpg" alt="">
Above: Screenshot of the Greenland Centre Sydney website, translated into Chinese
The $680 million development’s Stage 2 will see 200 apartments and penthouses released to the market, adding to the <a href="/expert-insights/buying/greenland-centre-launches-second-sales-stage">300 released and sold in Stage 1 in a sellout</a>.
Greenland Centre, at 115 Bathurst Street, looks to include new technology to re-use the existing structure and rejuvenate the building, with a design from BVN Donovan Hill and Woods Bagot.
It includes views to the ocean, mountains, across the Harbour and Hyde Park.
There will also be commercial and retail spaces at the site, as well as a boutique hotel with a swimming pool, roof terrace and concierge. The tower residents will also be able to use the roof terrace.
The public launch of Stage 2 is today, 12 April, with the entire development set for completion in late-2017.
Half of the apartments will have parking spaces.
In Stage 2 it’s yet to be confirmed how many of each type of property will be available, but the range will include one-, two- and three-bedroom apartments, studios and penthouses.
Studios range from $595,000 upwards, with an unconfirmed internal size. One-bedroom apartments, from 38 to 66 square metres, also range from $595,000 upwards. Two-bedroom apartments, from 70 to 91 square metres, the prices are set to be from $1.1 million, and three-bedroom apartments, at 105 to 144 square metres, will be from $2.175 million.
An opportunity to buy the highest penthouse in the area, with the entire building estimated to be 235 metres tall, may just be on the tickets tomorrow in what will prove to be a coveted position. However, you'll need to pay dearly for the property. Penthouse prices, despite the Saturday launch date, are still to be confirmed, estimated at up to $10 million each. In the Stage 1 release, Bloomberg reported that the most expensive sale was a three-bedroom unit on the 55th floor for $3.7 million, that sold to a Chinese buyer living in Australia. Whether they have citizenship was not mentioned. Sub-penthouses are also available.
Next to the site, 339 Pitt Street, the former Sydney Water head office site, is also slated to be turned into a hotel, according to<a href="https://development.cityofsydney.nsw.gov.au/Datasource/DANotifications/1128322_049.pdf" target="_blank"> the Preliminary Construction Management Plan</a>. It is on the state heritage council register of NSW, and the plans suggest "adaptive reuse" of the building and remedial work to the facade. Building works are suggested to maintain hours from 7am to 7pm Monday to Friday and 7am to 5pm on Saturdays.
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Opportunity to buy the highest penthouse in Sydney

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There is an estimated $1.1 billion in property available for purchase this weekend across Sydney. And it includes one of the last Paddington unrenovated terraces with backyard dunny (pictured above).
It's among the record offering of 1,107 houses and units up for auction across Sydney this weekend with a potential $935 million in houses available for purchase and $175 million in apartment stock going under the hammer.
There are 1,261 offerings in Melbourne, with an $870 million worth of stock with around $640 million in houses set to be offered under the hammer and $230 million worth of apartments.
The Saturday before Easter weekend is traditionally a big weekend for auctions, ahead of the quieter winter hibernation.
This year carried the spring 2013 momentum, and the later Easter on the calendar allowed the chance for more vendors to join the listings rush.
Australian Property Monitors research assistant Neil Tan has advised that this weekend's 1,107 Sydney offerings is some 196% higher than the same weekend last year. And Melbourne's tally is 142% up.
The last Sydney record auction bonanza was the 970 offering on 14 December in the lead up to Christmas 2013 when $584 million in sales came based on a $900,000 median house price and a $605,000 median unit price. There was another $584 million in sales secured on the 22 February weekend based on a $1.08 million house median and a $720,000 unit median sale price.
So it will the busiest Sydney Saturday on record, with official records being compiled since Australian Property Monitors started keeping the data in the late 1980s when Sydney was only just beginning to take a shine to onsite auction with the lead from the trend setter Andrew Gibbons agency.
The long mooted possibility that Sydney would break the 1,000 auction barrier for the first time occurs at a time when auction clearance rates sits at historically high levels on the back of buyer demand.
The initial Saturday figures from APM have been running at 80% for 10 consecutive weeks, but increasingly revised down to around 75% after final results have been tallied. This week at a mid-week auction a 53% auction clearance rate was secured at Double Bay, suggesting the deterioration might be setting in.
Melbourne's 1,261 auctions this saturday will be its fourth weekend above 1,000 this year, so that total is no news for them.
Indeed late last year Melbourne had three consecutive weekends with auction numbers over 1,300 from 30 November to 14 December. And Melbourne has also been showing signs of auction success rate weakness the further into autumn the weekends went.
So while a 100% success rate simply won't happen, the weekend $1.1 billion tally is huge based just on the offering. It is based on the median weekend house price last weekend which was $1.1 million in Sydney and the median Sydney auction unit price which was $700,000. These weekly auction medians have been ratcheting up, as witnessed in the figures given above for December and February super Saturday results.
Of course the auction offerings always reflect a much higher price than the typical $765,000 median for houses and the $540,000 median for typical units.
This weekend there are about 250 units and 850 houses for scheduled Sydney auction.
This weekend there are about 450 units and 810 houses for scheduled Melbourne auction.
Melbourne's median last weekend for house prices was $790,000 and the median unit price was $510,000.
And again, that's much higher than the typical $568,000 Melbourne median for houses and the median for typical $420,000 Melbourne units.
Listing agent Susie Peica and Dean Jarman of Ray White Paddington gave initial around $1 million price expectations for 54 Underwood Street which has been<a href="https://www.raywhite.com/nsw/paddington/1109943/" target="_blank"> listed for auction this weekend</a>.
It is an 1885 weatherboard terrace on an 185 square metre holding. The agents are now saying $950,000 plus after a bit of buyer feedback.
According to RP Data, the median house price for <a href="/news">Paddington</a> sits at a record $1.52 million.
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po-LsXgBTHBmX

Sydney's $1.1 billion pre-Easter Super Saturday offering - backyard Paddo dunny thrown in

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Agent: Peta Antoniou
<img src="/images/2014/04/07/Peta-Antoniou-profile.jpg" alt="" style="float: right;">
Position: Manager - South Sydney, industrial
Company: Knight Frank
Location: South Sydney
How long have you been in the industry?
I have worked in the property industry for five years, having started as a research analyst when I began my university degree then progressing into a sales and leasing role.
What’s happening in the area you specialise in?
Over the past 12 months especially, developments sites in South Sydney have become highly sought after. As a result the idea of South Sydney as a traditional industrial precinct has slowly diminished with increased amounts of residential development and amenity coming to the area.  We have also seen the adaptive re-use of existing buildings to creative workspaces evolve within the area. Warehouse conversions such as The Cannery in Rosebery completed approximately 24 months ago and The Woolstores in Alexandria due to complete mid 2014, are incredibly popular among tenants in South Sydney and city fringe locations.
Describe the most interesting property you have sold 
The most interesting property I have sold was 242 Young Street Waterloo. This 1,600 square metre freestanding building features creative office/showroom and warehouse. The building has the potential to be occupied in one line or split into four creative spaces. The mixed use zoning allowed for a wide number of permissible uses and it was interesting to work with each purchasers particular requirements. The building was sold to the International Screen Academy who established their educational facility in the building.
What are the ingredients to being successful in your job?
Drive, determination and passion. I think people like dealing with people who show they take a genuine interest in solving their property requirements. Attention to detail and follow up are also incredibly important.
What aspects of your role do you enjoy the most?
The diversity my role offers is what I enjoy most. No two clients, prospects or properties are alike. Each day is different with new challenges, opportunities and things to learn.
Where would you invest a spare $750,000?
I would buy a residential property.
Which football team do you support?
South Sydney Rabbitohs.
What’s your favourite app or techno gadget?
My favourite app is Timeout Sydney. The app shows you the best restaurants, cafes, bars and gigs happening in certain locations along with reviews of each place.
How do you use social media?
I am not a huge social media guru, but I use social media to keep in touch with friends and clients.
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kjiminez-eaYKfU7qd2

In profile: Knight Frank's manager - South Sydney, industrial, Peta Antoniou

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The development set to be Sydney’s tallest residential tower is set to release its second stage of stock this month.
Stage two of the $680 million Greenland Centre development will see 200 one, two and three bedroom apartments hit the market, accompanied by the release of several luxury penthouses. All 300 apartments offered in the first sales release have been sold.
Designed by BVN Donavan Hill and Nik Karalis with Domenic Alvaro of Australian architectural firm Woods Bagot, Greenland Centre will be 66 storeys high upon completion.
Different apartments in the complex will offer ocean and mountain views, along with views across the Sydney Harbour and Hyde Park. Buyers of apartments on the upper levels of the 235 metre high building will enjoy uninterrupted panoramic views.
The tower comes from Greenland Holding Group Co, a Chinese state-owned developer. There are also plans for commercial and retail spaces on the site, including a boutique hotel. The hotel will include a swimming pool, a roof terrace and concierge services. 
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jrichardson-uRX5hFdKfN

Greenland Centre launches second sales stage

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Demand for new housing in Sydney will continue to outstrip supply as development targets have been set too low to accommodate population growth, according to NSW Department of Planning and Infrastructure director general Sam Haddad.
“Indicators are that for the next couple of years we are going to achieve our targets of 25,000 to 27,000 dwellings in Sydney and I’m not sure that’s enough,” Haddad said last week at an industry forum organised by the Committee for Economic Development of Australia.
The department last year predicted the NSW population would increase by two million people to reach 9.2 million by 2031. Since then it has been examining updated Australian Bureau of Statistics data and invested in improving its population forecasts.
“Indications are that we are expecting a much higher population than we have predicted before,” Haddad said.
A larger population in Sydney meant demand for new housing would be much higher than previously anticipated and the existing targets for housing development would be too low.
The total number of dwelling units approved in NSW fell 0.2% in February after rising for 24 months, ABS data shows.
Approval times for new dwellings fell in 2012-13 compared with the previous year, according to the Local Development Performance Monitoring Report for 2012-2013. It took 68 days on average to approve a development application in 2012-13, three days less than in the previous year. Fast-tracked approvals took 17 days on average, one day less than the year before.
Haddad said there was a lag between dwellings being approved and work commencing, which the department was trying to understand but its key focus was on driving changes to the NSW planning system.
The department released a white paper outlining a new planning system for NSW and draft planning legislation on April 16 last year. The paper and legislation were on public exhibition until June 28.
The draft legislation has not yet been passed but Haddad said he was hopeful that it would pass soon as existing legislation could not cope with changes to population, community and investor expectations, environmental concerns and how infrastructure was integrated into urban developments.
“NSW is changing and we need to look ahead as to how we are going to manage this change and manage growth ... The current planning legislation cannot cope with the change that I’m talking about. It can no longer deliver to the community,” he said.
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zfielding-GvX3Uq9KTa

Housing development supply targets set too low: NSW Department of Planning and Infrastructure

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ABC television channel News 24 took about two minutes to encapsulate why misinformation is the greatest issue facing real estate investors.
Presenters Michael Rowland and Virginia Trioli and guest James Kirby managed to articulate every major myth in residential property in roughly 100 seconds of information mayhem last Friday.
Never in the history of human conflab has so much twaddle been dispensed to so many, by so few, in such a short space of time.
First we had Eureka Report’s Kirby, who may be informed on business affairs but is clearly not a real estate expert, making quite sweeping statements about “the property market” based on one set of numbers from a single source.
He made the mistake everyone in media is making – he extrapolated the situation in Sydney and, to a lesser extent, Melbourne to the whole country. (If Sydney’s having a boom then the whole nation is, apparently.)
<blockquote>
TV presenters simply should not comment on important issues about which they know little or nothing. This clearly includes real estate.
</blockquote>
Kirby also compared alleged price growth in the two big cities with current economic growth and inferred that this was out of balance, ignoring the reality that this is Sydney’s first growth year in a decade and that over the past 10 years Sydney price growth has averaged less than wages growth and not much more than the inflation rate (according to multiple sources, not the one source that misinformed Kirby’s generalised comments).
Kirby probably doesn’t realise he made a twit of himself because real estate is not his field of expertise. I get the feeling he had a quick scan of someone’s press release before going on the show to add his two bob’s worth to the great mass of misinformation that afflicts property markets nationwide.
Then the two ABC presenters weighed in.
Rowland spoke about “the blistering pace of housing prices right around Australia”. Given that six of the eight capital cities have recorded house price growth of less than 5% in the past 12 months, not forgetting the moderate growth in many regional markets, Rowland’s statement is quite irresponsible.
He and Trioli then made other off-the-cuff remarks about the lack of affordable housing, the importance for governments to take urgent action and the need to wind back negative gearing, presumably in the belief that this somehow will make housing more affordable.
Where does this nonsense come from? Everything they appear to believe about Australian real estate is contradicted by the research evidence.
I should point out that News 24 is my favourite channel on free-to-air TV and I enjoy Rowland and Trioli as one of the best news presentation teams in media.
But they simply should not comment on important issues about which they know little or nothing. This clearly includes real estate.
If you’re going to analyse an important industry to a national audience, for pity’s sake inform yourselves first. Do some research, rather than skimming the headlines in the Sydney Morning Herald, Australia’s biggest source of real estate misinformation.
Otherwise you’re part of the cycle of misinformation that hurts Australian consumers.
Here’s how media figures like Rowland and Trioli contribute to that cycle. They read something in a newspaper, they assume it’s accurate and they repeat it as fact. Through this process of regurgitation of misinformation, lies, half-truths and propaganda become accepted as fact by consumers, who then make bad investment decisions.
This helps to explain why most Australians who buy an investment property have a bad experience and, within five years, no longer own that property.
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