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

Joel Robinson

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

<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

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

Maréa Residences brings parkside apartments to Coolangatta

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

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

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

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

Sydney

<html><body>
The design team behind what looms as one of Sydney's tallest buildings has provided comment on their joint effort for 505-523 George Street.

Last week the development's proponents, Mirvac and Coombes Property Group, announced that Architectus and ingenhoven architects were successful in topping other participants in a design excellence competition. Now in progress is a 79 storey predominantly residential tower spanning 270 metres.

It has been billed as the highest residential building in Sydney, and also as a "profoundly visible landmark standing for an economical, environmental and socially sustainable, future-oriented development."

Efforts to deliver a signature project onsite reach back to August 2015 when Council and the Central Sydney Planning Committee considered a request to change the height control for the site which is currently home to an Event Cinemas complex.

Top flight architecture firms/partnerships Skidmore, Owings and Merrill + Crone, Wilkinson Eyre, Foster + Partners and fjmt + Bates Smart were beaten out by Architectus and ingenhoven architects during the initial design process. The $1 billion development will now progress to a Stage 2 development application with an eye to final approval.

<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/image142_0.jpg" rel="gallery-all" title="Panoramic views of the George Street tower. Image: Doug and Wolf"><img alt="" class="image-article-full-width-580px" height="301" src="/sites/urban.melbourne/files//styles/article_full_width_580px/public/pictures/article-images/image142_0.jpg?itok=1T8zwVlW" title="Panoramic views of the George Street tower. Image: Doug and Wolf" width="580"></a>

<figcaption>Panoramic views of the George Street tower. Image: Doug and Wolf</figcaption></figure><h2>What they say</h2>

<blockquote>
This is a very exciting project for Sydney. It will rejuvenate George Street’s entertainment precinct with new retail, community facilities, potential hotel and high-quality apartments.

The tower will present as a singular elegant form on the skyline of Sydney with the vertical structure emphasizing height and slenderness while the subtle curving façade addresses views in all directions.

We are looking forward to working with the team at Ingenhoven again on another significant Sydney project. Our collaboration on 1 Bligh Street was very successful and we aim to emulate the same quality and success with 505 George Street.
<cite>Ray Brown, Managing Director at Architectus</cite>
</blockquote>

<blockquote>
Now we have combined our expertise once again by designing a tower which will be highly integrated in the existing surroundings and offer a great public domain.

This urban approach is based on the philosophy of a well-connected public and conceives of the tower as being a 'friendly neighbour'. The combination of different uses and the timeless design of the building are integral parts of an environmentally sustainable approach but also expression of a deep understanding of the project goals
<cite>Christoph Ingenhoven, owner and founder of ingenhoven architects</cite>
</blockquote>

<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/image140_1.jpg" rel="gallery-all" title="Ground level perspective. Image: Doug and Wolf"><img alt="" class="image-article-full-width-580px" height="418" src="/sites/urban.melbourne/files//styles/article_full_width_580px/public/pictures/article-images/image140_1.jpg?itok=mtUJFfvD" title="Ground level perspective. Image: Doug and Wolf" width="580"></a>

<figcaption>Ground level perspective. Image: Doug and Wolf</figcaption></figure>Other aspects of the 65,000 square metre development include multiple retail levels, childcare facilities, a community meeting space and the potential to rehouse Event Cinemas in the podium structure.

ingenhoven architects' supergreen sustainability platform will be rolled out across the design. This includes "awareness of energy and resources, both in the design, construction and operation and in the realization of the building and its use. It includes the primary and secondary energy levels of the materials used, the equipment and building process and the use of resources over the whole lifetime of a building."

505-523 George Street will be a traditional post-tensioned concrete structure with exposed perimeter columns allowing for maximum residential floor space.

The development team has indicated that post a 2019 submission for approval, a construction start is pencilled in for 2020. With a five year build in mind, Mirvac and Coombes Property Group are eyeing residents moving in during 2025.

<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/image143_2.jpg" rel="gallery-all" title="Above all others. Image: Doug and Wolf"><img alt="" class="image-article-full-width-580px" height="286" src="/sites/urban.melbourne/files//styles/article_full_width_580px/public/pictures/article-images/image143_2.jpg?itok=LpCdo-br" title="Above all others. Image: Doug and Wolf" width="580"></a>

<figcaption>Above all others. Image: Doug and Wolf</figcaption></figure>
</body></html>

silvermb

Architectus and Ingehoven on Sydney's latest super skyscraper

<html><body>
The Sydney rental market has recorded the highest vacancy rate in at least 13 years according to SQM Research with 19,500 landlords seeking tenants.
Sydney’s rental vacancy rate rose to 2.8% in June with an estimated 19,572 residential rental dwellings sitting vacant and available for rent.
The vacancy rate rose from 2.5% recorded in May and 2% recorded in June 2017.
The 2.8% is the highest rental vacancy rate since at least 2005 when SQM Research commenced record keeping of rental listings. 
Nationally, the residential rental vacancy rate rose to 2.3% in June (from 2.1% recorded in May) with the number of vacancies Australia-wide now sitting at 75,757 properties.
Most cities recorded a rise with Melbourne rising to 1.6%, Brisbane to 3.0%, Canberra to 0.9% and Adelaide rising to 1.5%. Rental vacancies remained steady in Perth (4.1%), Darwin (3.5%) and Hobart (0.7%)
It should be noted that there tends to be a seasonal rise in rental vacancies for the major capital cities during the month of June. However it is SQM’s view that the rise recorded in Sydney goes beyond seasonal factors.  
<table border="1" cellspacing="0" cellpadding="0"><tbody>
<tr>
<td valign="bottom" width="12%">
City
</td>
<td valign="bottom" width="13%">
June 2017 Vacancies
</td>
<td valign="bottom" width="14%">
Vacancy Rate
</td>
<td valign="bottom" width="15%">
May 2018 Vacancies
</td>
<td valign="bottom" width="14%">
Vacancy Rate
</td>
<td valign="bottom" width="15%">
June 2018 Vacancies
</td>
<td valign="bottom" width="14%">
Vacancy Rate
</td>
</tr>
<tr>
<td valign="bottom" nowrap width="12%">
Adelaide
</td>
<td valign="bottom" nowrap width="13%">
3,251
</td>
<td valign="bottom" nowrap width="14%">
1.8%
</td>
<td valign="bottom" nowrap width="15%">
2,468
</td>
<td valign="bottom" nowrap width="14%">
1.3%
</td>
<td valign="bottom" nowrap width="15%">
2,726
</td>
<td valign="bottom" nowrap width="14%">
1.5%
</td>
</tr>
<tr>
<td valign="bottom" nowrap width="12%">
Perth
</td>
<td valign="bottom" nowrap width="13%">
10,638
</td>
<td valign="bottom" nowrap width="14%">
5.4%
</td>
<td valign="bottom" nowrap width="15%">
8,235
</td>
<td valign="bottom" nowrap width="14%">
4.1%
</td>
<td valign="bottom" nowrap width="15%">
8,426
</td>
<td valign="bottom" nowrap width="14%">
4.1%
</td>
</tr>
<tr>
<td valign="bottom" nowrap width="12%">
Melbourne
</td>
<td valign="bottom" nowrap width="13%">
8,754
</td>
<td valign="bottom" nowrap width="14%">
1.6%
</td>
<td valign="bottom" nowrap width="15%">
7,676
</td>
<td valign="bottom" nowrap width="14%">
1.4%
</td>
<td valign="bottom" nowrap width="15%">
9,035
</td>
<td valign="bottom" nowrap width="14%">
1.6%
</td>
</tr>
<tr>
<td valign="bottom" nowrap width="12%">
Brisbane
</td>
<td valign="bottom" nowrap width="13%">
11,497
</td>
<td valign="bottom" nowrap width="14%">
3.6%
</td>
<td valign="bottom" nowrap width="15%">
9,331
</td>
<td valign="bottom" nowrap width="14%">
2.9%
</td>
<td valign="bottom" nowrap width="15%">
9,886
</td>
<td valign="bottom" nowrap width="14%">
3.0%
</td>
</tr>
<tr>
<td valign="bottom" nowrap width="12%">
Canberra
</td>
<td valign="bottom" nowrap width="13%">
731
</td>
<td valign="bottom" nowrap width="14%">
1.2%
</td>
<td valign="bottom" nowrap width="15%">
498
</td>
<td valign="bottom" nowrap width="14%">
0.8%
</td>
<td valign="bottom" nowrap width="15%">
565
</td>
<td valign="bottom" nowrap width="14%">
0.9%
</td>
</tr>
<tr>
<td valign="bottom" nowrap width="12%">
Sydney
</td>
<td valign="bottom" nowrap width="13%">
13,215
</td>
<td valign="bottom" nowrap width="14%">
2.0%
</td>
<td valign="bottom" nowrap width="15%">
17,164
</td>
<td valign="bottom" nowrap width="14%">
2.5%
</td>
<td valign="bottom" nowrap width="15%">
19,572
</td>
<td valign="bottom" nowrap width="14%">
2.8%
</td>
</tr>
<tr>
<td valign="bottom" nowrap width="12%">
Darwin
</td>
<td valign="bottom" nowrap width="13%">
961
</td>
<td valign="bottom" nowrap width="14%">
3.3%
</td>
<td valign="bottom" nowrap width="15%">
1,051
</td>
<td valign="bottom" nowrap width="14%">
3.5%
</td>
<td valign="bottom" nowrap width="15%">
1,062
</td>
<td valign="bottom" nowrap width="14%">
3.5%
</td>
</tr>
<tr>
<td valign="bottom" nowrap width="12%">
Hobart
</td>
<td valign="bottom" nowrap width="13%">
190
</td>
<td valign="bottom" nowrap width="14%">
0.7%
</td>
<td valign="bottom" nowrap width="15%">
211
</td>
<td valign="bottom" nowrap width="14%">
0.7%
</td>
<td valign="bottom" nowrap width="15%">
221
</td>
<td valign="bottom" nowrap width="14%">
0.7%
</td>
</tr>
<tr>
<td valign="bottom" nowrap width="12%">
National
</td>
<td valign="bottom" nowrap width="13%">
78,314
</td>
<td valign="bottom" nowrap width="14%">
2.5%
</td>
<td valign="bottom" nowrap width="15%">
69,152
</td>
<td valign="bottom" nowrap width="14%">
2.1%
</td>
<td valign="bottom" nowrap width="15%">
75,757
</td>
<td valign="bottom" nowrap width="14%">
2.3%
</td>
</tr>
</tbody></table>
 
SQM’s calculations of vacancies are based on online rental listings that have been advertised for three weeks or more compared to the total number of established rental properties.
SQM considers this to be a superior methodology compared to using a potentially incomplete sample of agency surveys or merely relying on raw online listings advertised.  
Capital city asking rents for houses fell over the month to 12 July 2018 by 0.4% to $549 a week. Unit asking rents remain steady at $444 a week. Over the year, asking house rents rose just 0.5%, while unit asking rents rose modestly by 0.9%.
While the asking rent for a three-bedroom house in Sydney remains the highest in the nation at $709 a week, rents fell 0.8% over the month to 12 July, with the upward trend in the vacancy rate easing pricing pressures. Asking unit rents in Sydney now stand at $522 a week, down by 0.2% over the month. Sydney was the only city to record falls in rents for the year with rents for houses down by 2.2% and units down by 0.1%
Canberra also recorded monthly falls in rents for both houses (0.1%) and units (2.5%) however rents are well up by 13% over the past 12 months for houses. Melbourne’s house rents fell by 1.3% for the month but unit rents rose marginally by 0.1%.
Brisbane, Darwin, Adelaide and Perth house rents continue to register small increases in the past 30 days.  However, rents for units in Adelaide fell by 0.2%, making it the cheapest capital city to rent a unit at $299.60 a week.  Adelaide is also the cheapest capital city to rent a house, with the asking rent sitting at $383.10 a week, although there is an increase of 0.9% for June.
<table border="1" cellspacing="0" cellpadding="0"><tbody>
<tr>
<td colspan="6" valign="top" width="100%">
SQM Research Weekly Rents Index
</td>
</tr>
<tr>
<td colspan="2" width="39%">
Week ending - 12 Jul 2018
</td>
<td width="10%">
Rent
</td>
<td width="16%">
Change on previous week
</td>
<td width="16%">
Rolling month % change
</td>
<td width="17%">
12 month % change
</td>
</tr>
<tr>
<td rowspan="2" valign="top" width="24%">
Canberra
</td>
<td valign="top" nowrap width="14%">
All Houses
</td>
<td valign="top" nowrap width="10%">
630.7
</td>
<td valign="top" nowrap width="16%">
-2.7  
</td>
<td valign="top" nowrap width="16%">
-0.1%  
</td>
<td valign="top" nowrap width="17%">
13.0%  
</td>
</tr>
<tr>
<td valign="top" nowrap width="14%">
All Units
</td>
<td valign="top" nowrap width="10%">
439.6
</td>
<td valign="top" nowrap width="16%">
-1.6  
</td>
<td valign="top" nowrap width="16%">
-2.5%  
</td>
<td valign="top" nowrap width="17%">
6.6%  
</td>
</tr>
<tr>
<td rowspan="2" valign="top" width="24%">
Sydney
</td>
<td valign="top" nowrap width="14%">
All Houses
</td>
<td valign="top" nowrap width="10%">
709.2
</td>
<td valign="top" nowrap width="16%">
-0.2  
</td>
<td valign="top" nowrap width="16%">
-0.8%  
</td>
<td valign="top" nowrap width="17%">
-2.2%  
</td>
</tr>
<tr>
<td valign="top" nowrap width="14%">
All Units
</td>
<td valign="top" nowrap width="10%">
521.7
</td>
<td valign="top" nowrap width="16%">
-0.7  
</td>
<td valign="top" nowrap width="16%">
-0.2%  
</td>
<td valign="top" nowrap width="17%">
-0.1%  
</td>
</tr>
<tr>
<td rowspan="2" valign="top" width="24%">
Darwin
</td>
<td valign="top" nowrap width="14%">
All Houses
</td>
<td valign="top" nowrap width="10%">
540.9
</td>
<td valign="top" nowrap width="16%">
0.1  
</td>
<td valign="top" nowrap width="16%">
0.4%  
</td>
<td valign="top" nowrap width="17%">
5.8%  
</td>
</tr>
<tr>
<td valign="top" nowrap width="14%">
All Units
</td>
<td valign="top" nowrap width="10%">
405.0
</td>
<td valign="top" nowrap width="16%">
0.0  
</td>
<td valign="top" nowrap width="16%">
0.5%  
</td>
<td valign="top" nowrap width="17%">
1.9%  
</td>
</tr>
<tr>
<td rowspan="2" valign="top" width="24%">
Brisbane
</td>
<td valign="top" nowrap width="14%">
All Houses
</td>
<td valign="top" nowrap width="10%">
451.9
</td>
<td valign="top" nowrap width="16%">
0.1  
</td>
<td valign="top" nowrap width="16%">
0.5%  
</td>
<td valign="top" nowrap width="17%">
2.0%  
</td>
</tr>
<tr>
<td valign="top" nowrap width="14%">
All Units
</td>
<td valign="top" nowrap width="10%">
370.4
</td>
<td valign="top" nowrap width="16%">
0.6  
</td>
<td valign="top" nowrap width="16%">
0.3%  
</td>
<td valign="top" nowrap width="17%">
0.8%  
</td>
</tr>
<tr>
<td rowspan="2" valign="top" width="24%">
Adelaide
</td>
<td valign="top" nowrap width="14%">
All Houses
</td>
<td valign="top" nowrap width="10%">
383.1
</td>
<td valign="top" nowrap width="16%">
0.9  
</td>
<td valign="top" nowrap width="16%">
0.9%  
</td>
<td valign="top" nowrap width="17%">
2.1%  
</td>
</tr>
<tr>
<td valign="top" nowrap width="14%">
All Units
</td>
<td valign="top" nowrap width="10%">
299.6
</td>
<td valign="top" nowrap width="16%">
-0.6  
</td>
<td valign="top" nowrap width="16%">
-0.2%  
</td>
<td valign="top" nowrap width="17%">
3.5%  
</td>
</tr>
<tr>
<td rowspan="2" valign="top" width="24%">
Hobart
</td>
<td valign="top" nowrap width="14%">
All Houses
</td>
<td valign="top" nowrap width="10%">
398.6
</td>
<td valign="top" nowrap width="16%">
-0.6  
</td>
<td valign="top" nowrap width="16%">
-0.3%  
</td>
<td valign="top" nowrap width="17%">
8.5%  
</td>
</tr>
<tr>
<td valign="top" nowrap width="14%">
All Units
</td>
<td valign="top" nowrap width="10%">
347.3
</td>
<td valign="top" nowrap width="16%">
-0.3  
</td>
<td valign="top" nowrap width="16%">
-0.9%  
</td>
<td valign="top" nowrap width="17%">
10.4%  
</td>
</tr>
<tr>
<td rowspan="2" valign="top" width="24%">
Melbourne
</td>
<td valign="top" nowrap width="14%">
All Houses
</td>
<td valign="top" nowrap width="10%">
522.6
</td>
<td valign="top" nowrap width="16%">
-0.6  
</td>
<td valign="top" nowrap width="16%">
-1.3%  
</td>
<td valign="top" nowrap width="17%">
2.2%  
</td>
</tr>
<tr>
<td valign="top" nowrap width="14%">
All Units
</td>
<td valign="top" nowrap width="10%">
411.8
</td>
<td valign="top" nowrap width="16%">
0.2  
</td>
<td valign="top" nowrap width="16%">
0.1%  
</td>
<td valign="top" nowrap width="17%">
2.6%  
</td>
</tr>
<tr>
<td rowspan="2" valign="top" width="24%">
Perth
</td>
<td valign="top" nowrap width="14%">
All Houses
</td>
<td valign="top" nowrap width="10%">
424.5
</td>
<td valign="top" nowrap width="16%">
0.5  
</td>
<td valign="top" nowrap width="16%">
0.8%  
</td>
<td valign="top" nowrap width="17%">
0.2%  
</td>
</tr>
<tr>
<td valign="top" nowrap width="14%">
All Units
</td>
<td valign="top" nowrap width="10%">
326.1
</td>
<td valign="top" nowrap width="16%">
0.9  
</td>
<td valign="top" nowrap width="16%">
0.5%  
</td>
<td valign="top" nowrap width="17%">
-0.4%  
</td>
</tr>
<tr>
<td rowspan="2" valign="top" width="24%">
National
</td>
<td valign="top" nowrap width="14%">
All Houses
</td>
<td valign="top" nowrap width="10%">
432.0
</td>
<td valign="top" nowrap width="16%">
-1.0  
</td>
<td valign="top" nowrap width="16%">
-0.5%  
</td>
<td valign="top" nowrap width="17%">
1.2%  
</td>
</tr>
<tr>
<td valign="top" nowrap width="14%">
All Units
</td>
<td valign="top" nowrap width="10%">
355.0
</td>
<td valign="top" nowrap width="16%">
1.0  
</td>
<td valign="top" nowrap width="16%">
-1.1%  
</td>
<td valign="top" nowrap width="17%">
1.7%  
</td>
</tr>
<tr>
<td rowspan="2" valign="top" width="24%">
Cap City Average
</td>
<td valign="top" nowrap width="14%">
All Houses
</td>
<td valign="top" nowrap width="10%">
549.0
</td>
<td valign="top" nowrap width="16%">
1.0  
</td>
<td valign="top" nowrap width="16%">
-0.4%  
</td>
<td valign="top" nowrap width="17%">
0.5%  
</td>
</tr>
<tr>
<td valign="top" nowrap width="14%">
All Units
</td>
<td valign="top" nowrap width="10%">
444.0
</td>
<td valign="top" nowrap width="16%">
0.0
</td>
<td valign="top" nowrap width="16%">
0.0%
</td>
<td valign="top" nowrap width="17%">
0.9%  
</td>
</tr>
</tbody></table>
 
 
</body></html>

j.ballantyne1990-6AQqhLzZaK

SQM calculates highest ever number of Sydney landlords without tenants

<html><body><div class="page" title="Page 1">
<div class="layoutArea">
<div class="column">
A number of Sydney developers are leading the move towards urban greening.
The Urban Taskforce recently had a forum on ‘Urban Greening’ and this has led to a publication with examples of greenery being incorporated into buildings.
The Central Park project by Frasers Property and Sekisui House is an excellent example of green landscape being incorporated into the façade of a 33 storey apartment building in a manner that responds to the seasons. 
As well as the integration of landscape and building the site includes a significant amount of public parkland and water features.
The One Sydney Park project by HPG also incorporates landscape gardens into the building façade in a design that blends with the adjacent Sydney Park.
 Also at an early design stage is the Crown Group’s apartment building in Alexandria which steps down to the street level with terraces that will be landscaped with mature trees.
There is clearly a move in the development industry to softening urban buildings through parklands, greenery on balconies and roof gardens.
The suburban ideal of a landscaped garden city is beginning to be reinterpreted at the scale of apartment buildings.
<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/2018/6/1/urban%20ideas%20.jpg" alt="">The trend also reflects the NSW Government’s approach to encouraging more urban landscape through the ‘Greener Places’ publication and the allocation of $290 million to a green infrastructure program that includes an aim to lift Sydney’s tree canopy from 16% to 40%.
Projects like the ‘Gardens of Auburn’ by developers LFD propose to incorporate 4,300 square metres of gardens and parklands and the DaniasGroup have generated a ‘Green Heart’ in a creative industry proposal in Marrickville. 
All of these proposals are contained in the Urban Ideas issue on ‘Urban Greening’ (seen here). 
The Urban Taskforce is supportive of the NSW Government approach to increasing greenery as Sydney increases its density and we will continue to profile good examples.
CHRIS JOHNSON is the Urban Taskforce CEO.
</div>
</div>
</div></body></html>

Development industry leading in Greening Cities

<html><body>
The Sydney rental market has slowed, according to research from the Real Estate Institute of New South Wales.
REINSW Deputy President Brett Hunter said the June 2018 REINSW Vacancy Rate Survey saw a general increase in vacancy rates across the Sydney metropolitan area.
“The Sydney vacancy rate rose 0.3 percentage points with rises of 0.4 percentage points in both Inner and Middle Sydney at 3 per cent and 2.8 per cent respectively, while Outer Sydney remained steady at 2.4 per cent. 
“Agents reported fewer enquiries coming through due to the approach of the winter season,” Mr Hunter said. 
 “An oversupply of apartments is also affecting Middle Sydney.” 
In the Hunter, vacancy rates rose 0.3 percentage points to 1.9 per cent, led by Newcastle which rebounded 0.5 percentage points to 2.4 per cent. The Illawarra gained 0.1 percentage points to 2.5 per cent with Wollongong increasing 0.2 percentage points to 2.3 per cent.  Across regional areas, the Central Coast fell 0.1 percentage points at 2 per cent, Northern Rivers added 0.2 percentage points to 1.5 per cent and New England gained 0.4 percentage points to 2.3 per cent. 
 
</body></html>

Sydney rental market slows as oversupply of apartments affecting Middle Sydney: REINSW

<html><body>
New housing codes for greenfield and low-rise medium-density homes came into effect on July 6th and the NSW Department of Planning and Environment says delivery of new homes in greenfields and in-fill scenarios will be sped up, saving buyers money in the process.

The low-rise medium-density housing code 'seeks to encourage well-designed, dual occupancies, manor houses and terraces to be built under a fast track complying development approval' according to the NSW Department of Planning and Environment.

The code only applies in areas where councils have permitted medium density housing to be built under the local environment plans.

[smartcode_project:default project_id=31240]

Councils were eligible to apply for the low-rise medium-density housing code implementation date to be deferred to 1 July 2019 - many metropolitan councils have gone down this path - but many councils now see the new code in effect.

The City of North Sydney is one of the councils where the new housing code is now in effect.  See below for a zone map from the council's 2013 LEP, the low-rise medium-density housing code will apply to land zoned with medium density residential (R3).

<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/nsyd_lep_zones_medium1.png" rel="gallery-all" title="City of North Sydney zoning map. North Sydney LEP 2013"><img alt="" class="image-article-full-width-580px" height="408" src="/sites/urban.melbourne/files//styles/article_full_width_580px/public/pictures/article-images/nsyd_lep_zones_medium1.png?itok=8aiqEkHu" title="City of North Sydney zoning map. North Sydney LEP 2013" width="580"></a>

<figcaption>City of North Sydney zoning map. <a href="https://www.legislation.nsw.gov.au/maps/77528bd5-a269-eb1f-d07f-94f13e8ab4f9/5950_COM_LZN_002A_005_20130607.pdf">North Sydney LEP 2013</a></figcaption></figure>A spokesperson from the NSW Department of Planning and Environment said the new code will facilitate faster housing supply.

<blockquote>
Low-rise medium density housing is the missing part of the NSW housing stock between traditional free-standing homes and strata-titled apartments.

Medium density housing promotes greater housing choice, diversity and affordability.

It allows for seniors to downsize as well as being a more affordable option for young people.
<cite>Alison Frame, Deputy Secretary of Policy and Strategy</cite>
</blockquote>

Two new design guides have been released for <a href="http://www.planning.nsw.gov.au/~/media/Files/DPE/Manuals-and-guides/Low-rise-medium-density-design-guide-for-complying-development-2017-07-05.ashx">complying development</a> and another for <a href="http://www.planning.nsw.gov.au/~/media/Files/DPE/Manuals-and-guides/Medium-density-design-guide-for-development-applications-2017-07-05.ashx">development applicants</a> that will aid in planning assessment.

Like the low-rise medium-density housing code, the greenfield housing code is set to allow complying developments which feature one and two storey homes, renovations and extensions to be carried out under a fast-track approval.  The department also says the new code will ensure new residential suburbs are leafier and more environmentally friendly.

<blockquote>
A simplified and tailored Greenfield Housing Code will promote faster housing approvals in new release areas, saving time and money.

The complying development standards, such as building heights, setbacks and landscaping, have been tailored to ensure homes are designed to protect the privacy and amenity of neighbourhoods.
<cite>Alison Frame</cite>
</blockquote>

The Sydney Metropolitan councils which have deferred implementation of the low-rise medium-density housing code to July 1 2019 are listed below.

<ul>
<li>Bayside</li>
	<li>Burwood</li>
	<li>Camden</li>
	<li>Campbelltown</li>
	<li>Canada Bay</li>
	<li>Canterbury-Bankstown</li>
	<li>Cumberland</li>
	<li>Georges River</li>
	<li>Hawkesbury</li>
	<li>Hornsby</li>
	<li>Hunter's Hill</li>
	<li>Inner West</li>
	<li>Lane Cove</li>
	<li>Liverpool</li>
	<li>Mosman</li>
	<li>Northern Beaches</li>
	<li>Parramatta</li>
	<li>Penrith</li>
	<li>Randwick</li>
	<li>Ryde</li>
	<li>Strathfield</li>
	<li>Sutherland Shire</li>
	<li>Sydney</li>
	<li>The Hills Shire</li>
	<li>Willoughby</li>
	<li>Woollahra</li>
</ul>
Developer lobby group Urban Taskforce Australia said its baffling that so many councils were allowed to shirk their responsibility to promote a diverse range of housing types.

<blockquote>
This is a sad day for future generations looking to live an affordable lifestyle in a diverse range of housing types.

All the ‘Missing Middle’ Low-Rise Medium Density Housing Code did was provide a faster approval process for medium density housing types where councils already permitted this type of development in their local government area.

To see this over reaction and backlash against two storey town houses and terrace houses by councils demonstrates just how out of touch they are with young families and other demographic groups looking for somewhere to live.
<cite>Chris Johnson, CEO Urban Taskforce Australia</cite>
</blockquote>

Community group Your Northern Beaches worries about a lack of future consultation on development applications.

<blockquote>
If you thought our area had problems with boarding houses popping up in inappropriate areas, wait until you see the State Govt's new "low rise medium density housing code" which will come into effect 6 July, 2018!

The new Low Rise Medium Density Housing code will apply where Councils already allow this type of development under the local LEP. Everywhere that currently permits dual occupancy will have this new law apply.

So whats the catch then? Well, even though this has a great opportunity to create a more diverse housing stock for our area, this will remove protections that a Council DA process currently supplies and hand straight to a Private Certifier.

You will not be consulted. 
<a href="https://www.yournorthernbeaches.com.au/single-post/2018/05/16/WARNING---NEW-LOW-RISE-MEDIUM-DENSITY-HOUSING-CODE-coming-our-way"><cite>Your Northern Beaches</cite></a>
</blockquote>
</body></html>

Alastair Taylor

New Low-rise medium density housing code comes into effect in NSW

<html><body>
City of Sydney will assess in earnest 311-317 Sussex Street which is a freshly lodged application that intends to bring a substantial slab of boarding house accommodation to Sydney's CBD.

Guansheng Australia Pty Ltd is backing the student housing hub for the site in light of Sydney's pressing requirement for additional student accommodation. 83 boarding house rooms within the part 15 storey and part 16 storey tower will sit below 9 private apartments, including a 4 bedroom dwelling.

Costed at $48 million, the building at the western edge of the Sydney CBD also aims to meet standards for the design and construction of new generation boarding houses. FJMT conceived the tower which is incorporated behind the existing non-heritage listed warehouse facade.

<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/image23_12.jpg" rel="gallery-all" title="Street level view. Planning image: FJMT"><img alt="" class="image-article-full-width-580px" height="875" src="/sites/urban.melbourne/files//styles/article_full_width_580px/public/pictures/article-images/image23_12.jpg?itok=4WhVAv6d" title="Street level view. Planning image: FJMT" width="580"></a>

<figcaption>Street level view. Planning image: FJMT</figcaption></figure>Externally the tower expresses "a simple palette of materials has been selected which reflects the robust character of Sussex Street. Each element of the proposal is expressed with a specific materiality to provide a variation in scale and a diversity in character.

The fine grain of the brick warehouses is reflected in the new masonry screen to Sussex Street - blades are angled to provide privacy to the Apartments whilst providing access to local views of the streetscape."

According to FJMT 107 beds spread over 5 separate apartment types are included, ranging from studios to shared apartments with a common living area. The design is also flush with communal facilities such as lounges, a study/work hub, games zone, breakout spaces and a common laundry facility.

Boarding room internal living spaces begin from 12 square metres and increase to 22 square metres, with common living areas on each level. Typical apartments follow, with a limited number spanning two levels.

<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/image5_18.jpg" rel="gallery-all" title="A selection of current Sydney student accommodation projects"><img alt="" class="image-article-full-width-580px" height="487" src="/sites/urban.melbourne/files//styles/article_full_width_580px/public/pictures/article-images/image5_18.jpg?itok=EWMOLyXG" title="A selection of current Sydney student accommodation projects" width="580"></a>

<figcaption>A selection of current Sydney student accommodation projects</figcaption></figure>Sydney, like Brisbane and Melbourne is enjoying a boom in student accommodation projects.

Most recently Singapore's Wee Hur linked with Intergen Property Group to expand their portfolio across Australia which, including a recent Redfern site acquisition that is expected to see more than 500 beds included. Wee Hur's Australian footprint also covers Melbourne, Adelaide and Brisbane and Perth.

Seen above is a quartet of current student accommodation projects representative of the surge of the type across Sydney. The University’s Regiment Redevelopment Project is seeing a new building rise on the corner of City Road and Darlington Road, whilst the Wee Hur Redfern development will also target the University of Sydney and the University of Technology Sydney.

Further afield Rothelowman has designed a new student accommodation project in Macquarie Park for the purposes of serving the nearby Macquarie University.
</body></html>

Guansheng Australia pushes student accommodation into Sydney's CBD

<html><body>
Sydney's dwelling values dropped 4.5 percent over the last financial year, according to CoreLogic's June Home Value Index. 
The declines were topped by Darwin, which saw a 7.7 percent decrease.
The rest of New South Wales continued to show strength, with dwelling values increasing 3.2 percent. 
Click here <a href="https://www.propertyobserver.com.au/images/2018/7/2/annual-value-change.jpg" target="_blank">to enlarge.</a>
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2018/7/2/annual-value-change.jpg" alt="">
 
The hardest hit areas in Sydney have been Ryde, the Inner West and the Baulkham Hills areas, which have all seen their values decline over seven percent.
Nine of the ten worst performing capital city SA4 regions came from the surrounding areas of Sydney.
Click here <a href="https://www.propertyobserver.com.au/images/2018/7/2/regional-declines.jpg" target="_blank">to enlarge.</a>
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2018/7/2/regional-declines.jpg" alt="">
</body></html>

jrobinson-rf4aSBido9

Sydney values drop 4.5 percent over financial year: CoreLogic

<html><body>
The last two weeks have yielded planning news on four separate hotel developments across Sydney, and that trend continues with two additional hotel developments on the agenda.

Sydney's general upswing in hotel accommodation is seeing thousands of new rooms either proposed or at construction over a multitude of sites. Looking to join the fray are Cromwell Property Group and established hotel developer Pro-invest Group.

Cromwell's hotel play encapsulates their existing twin tower office complex at Chatswood's 475-501 Victoria Avenue. The 6,030 square metre site includes a net lettable area of 24, 970 square metres over the two buildings, along with substantial underutilised spaces to major frontages.

It's these areas which Cromwell are looking to exploit with a $75 million build expected to deliver a new high-rise hotel and additional office space on the diagonally opposite corner.

<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/image108.jpg" rel="gallery-all" title="Site aerial and intended ground plan. Images: Philip Chun / Nettletontribe"><img alt="" class="image-article-full-width-580px" height="224" src="/sites/urban.melbourne/files//styles/article_full_width_580px/public/pictures/article-images/image108.jpg?itok=ujjGDrha" title="Site aerial and intended ground plan. Images: Philip Chun / Nettletontribe" width="580"></a>

<figcaption>Site aerial and intended ground plan. Images: Philip Chun / Nettletontribe</figcaption></figure>While the additional office area comes by way of a four level stand-alone building primarily fronting Victoria Avenue, project architect Nettletontribe has also added a 17-storey hotel development fronting Brown Street. 156 hotel rooms are included within the tower.

The 60.9 metre building also includes a variety of amenities such as a restaurant, gym, pool, bar and conference centre. The hotel's inclusion will also spark a major refurbishment and landscaping of the site's ground floor 

Cromwell's intentions to deliver a hotel on the Victoria Avenue site would see an eventual operator pitched into the busy Chatswood hotel sector; Quest, Sebel, Mantra, Meriton and Sikari currently have a presence in the suburb which is little more than 10 kilometres from Sydney's CBD.

Meanwhile, Mascot's 2-8 Sarah Street is drawing closer to development at the hand of Pro-invest Group.

<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/image106_1.jpg" rel="gallery-all" title=" View Robey Street and O'Riordian Street. Planning image: SJB"><img alt="" class="image-article-full-width-580px" height="350" src="/sites/urban.melbourne/files//styles/article_full_width_580px/public/pictures/article-images/image106_1.jpg?itok=WGEhin_Y" title=" View Robey Street and O'Riordian Street. Planning image: SJB" width="580"></a>

<figcaption>View Robey Street and O'Riordian Street. Planning image: SJB</figcaption></figure>Already with a healthy backlog of hotel developments across Australia and New Zealand, the investment firm has taken the Mascot site back to planning with a redesign in place to accommodate operator Holiday Inn Express. SJB is responsible for the project's design.

The latest submitted plans seek an increase in hotel room numbers, expanding to 178, plus external facade changes which provide the development with a lighter, brighter exterior. Initial delivery timelines for the development had a completion date targeting the last quarter of 2019.

622 guests can be housed within the proposed hotel at any given time, further boosting the already strong short stay accommodation precinct adjacent to Sydney Airport. 

Owing to the demand in Mascot for hotel accommodation, Sydney Airport's owners are considering <a href="https://www.afr.com/business/sydney-airport-eyes-more-hotel-developments-after-mid2017-mantra-opening-20170217-gufgtp">creating a portfolio of hotels</a> on airport land, whilst developer Savelle earlier this year <a href="/news/savelle-supersize-their-mascot-mixed-use-development">adjusted its Mascot mixed-use development</a> to include 187 dedicated hotel rooms and suites.

<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/image107_1.jpg" rel="gallery-all" title="Earlier site design for comparison's sake. Image: Pro-invest Group"><img alt="" class="image-article-full-width-580px" height="321" src="/sites/urban.melbourne/files//styles/article_full_width_580px/public/pictures/article-images/image107_1.jpg?itok=Lf9Qr_fu" title="Earlier site design for comparison's sake. Image: Pro-invest Group" width="580"></a>

<figcaption>Earlier site design for comparison's sake. Image: Pro-invest Group</figcaption></figure>
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Cromwell and Pro-invest refine their Sydney hotel intentions

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Sydney-based developer PAYCE Consolidated is pushing to realiase a greater number of apartments within their expansive Melrose Park renewal project.

City of Parramatta has released planning details on PAYCE Consolidated's second stage of the Melrose Park development which the developer describes as "the new Australian dream, a welcoming neighbourhood with a sense of place."

Amended plans submitted call for 27 apartments to be added to the already approved concept plan, 42 additional car parking spaces and an augmented building form. The second stage is expected to cost in excess of $76 million to build.

The sprawling site is addressed 657-661 Victoria Road and 4-6 Wharf Road. It fell under the control of Payce Consolidated and project partner Sekisui House Australia during 2016, when a $160 million transaction for the 4.5 hectare site was executed with fellow developer Aqualand.

<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/image98_0.jpg" rel="gallery-all" title="Melrose Park Stage 2. Image: PAYCE Consolidated"><img alt="" class="image-article-full-width-580px" height="490" src="/sites/urban.melbourne/files//styles/article_full_width_580px/public/pictures/article-images/image98_0.jpg?itok=NKz0VZEX" title="Melrose Park Stage 2. Image: PAYCE Consolidated" width="580"></a>

<figcaption>Melrose Park Stage 2. Image: PAYCE Consolidated</figcaption></figure>The revised Stage 2 plans which landed at planning during June see Allen Jack+Cottier Architects charged with the project's design. A U-shaped building on an island site within the larger development will accommodate 234 apartments.

The living mix sees 20 studio, 71 single, 130 double and 13 triple bedroom apartments in play.

A large communal open space is central to the apartment block, as are rooftop terraces which account for approximately a third of all roof space. 3 basement levels are expected to accommodate 281 car parking spaces.

The former Aqualand site has been segregated into superlot development plots, with Stage 2 noted as being superlot AD. It is set back from Victoria Road and Wharf Road, with another stage dubbed superlot AC to straddle both major frontages. 

<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/image99_2.jpg" rel="gallery-all" title="Stage 2 siting within a wider context. Planning image: AJ+C"><img alt="" class="image-article-full-width-580px" height="360" src="/sites/urban.melbourne/files//styles/article_full_width_580px/public/pictures/article-images/image99_2.jpg?itok=pwO7RXQb" title="Stage 2 siting within a wider context. Planning image: AJ+C" width="580"></a>

<figcaption>Stage 2 siting within a wider context. Planning image: AJ+C</figcaption></figure>The rejigging of stage 2 is but one portion of the overall Melrose Park precinct controlled by PAYCE Consolidated; it stands to become one of Australia's larger stand-alone urban renewal developments, spanning approximately 30 hectares.

The targeted apartment output for the project sits at approximately 5,000, with 1,500 new jobs also expected. Additionally, a host of communal inclusions are expected within Melrose Park, such as public parks, an amphitheatre and a childcare centre.

Marketing for the initial stage of the precinct has begun in earnest, with Melrose Park's development timeline stretched out to beyond a decade.

<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/image100_0.jpg" rel="gallery-all" title="What could be for Melrose Park. Image: PAYCE Consolidated"><img alt="" class="image-article-full-width-580px" height="340" src="/sites/urban.melbourne/files//styles/article_full_width_580px/public/pictures/article-images/image100_0.jpg?itok=KqIvbQ7D" title="What could be for Melrose Park. Image: PAYCE Consolidated" width="580"></a>

<figcaption>What could be for Melrose Park. Image: PAYCE Consolidated</figcaption></figure>
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PAYCE pushes for more apartments in Melrose Park

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PAG, the Hong Kong investment management firm has put its half stake in Sydney’s sixth-largest ­office tower, 60 Margaret Street, up for sale.
It includes the MetCentre at the foot of the building.
It has ING ­Direct as a major tenant.
The retail centre is anchored by a street-level Woolworths supermarket and Virgin Active along with 75 specialty stores within the 6419sq m retail centre.
The entire building value is estimated at more than $800 million, according to The Australian.
PAG’s listing comes as Sydney’s office property boom hits new highs, with ISPT completing a deal to buy a half-stake in Sydney landmark Westpac Place in a deal valuing that tower at more than $1.7 billion.
The Australian reported the Westpac Place deal helped reset pricing metrics for Sydney towers as it showed a yield of about 4.5 per cent.
PAG bought its 60 Margaret Street stake in 2015 from industry superannuation fund MTAA Super for just over $300 million.  
<div class="cq-article-content-paras section">
Mirvac Group, which owns the other half, had waived its pre-emptive right over the stake. Mirvac Group moved out in 2016 to its 200 George Street project close by. 
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The latest off-market offering is being handled by Ian Hetherington, Ben Azar and Tim Grossman of Savills.
The A-grade building, which consists of 36 office levels and three levels of shops, with ­direct access to Wynyard railway station.
The tower spans 40,985 sqm.
<a href="https://www.realcommercial.com.au/property-offices-nsw-sydney-502349942" target="_blank">There are leasing spaces available</a> through Savills which notes Wynyard hub is undergoing one of the largest transformations the city has ever seen; its availability through Savills agents Christina Malcolm and Chris Rowe.  Level 9: 1,410 sqm Low rise whole floor offers impressive cityscape and Wynyard park views with good natural light. Refurbishment of the whole floor now completed.  Level 15: ~380sqm  Tenancy offers direct lift exposure, South/East aspect, impressive city views and natural light.  Level 16: 583sqm  Refurbished part floor opportunity with North/East city views and good natural light. Level 36: 596.4sqm Top floor suite offers exceptional South/West city views, direct lift exposure and to be refurbished to a high standard. 
 
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