Builder-developer ALAND has drawn back the curtain on its first city-focused new apartment development.

The North Sydney development, <a href="https://www.apartments.com.au/new-apartments/the-walden-north-sydney-173-179-walker-street-north-sydney-nsw-2060">The Walden</a>, is the first time the company has ventured this close to the city, having previously completed thousands of apartments predominantly in Sydney's west, and more recently in Gosford.

<a href="https://www.apartments.com.au/developers/aland">ALAND</a> acquired the prime North Sydney site, spanning Walker and Hampden Streets just down the road from the Victoria Cross Metro station, for $240 million in June.

Now they've unveiled the new project, a mix of one-, two-, three- and four-bedroom apartments across a 30-level building designed by Rothelowman.

[smartcode_project:default project_id=134323 project_image_fid=6384]

The Walden will capitalise on the site’s front-row position on the eastern fringe of the <a href="https://www.apartments.com.au/developments/north-sydney-nsw-2060">North Sydney</a> CBD, which offers uninterrupted Sydney Harbour views stretching from the Sydney Harbour Bridge all the way to Sydney Heads.

The main tower will be flanked by a small four-level amenity building known as The Pavilion, offering exclusive resident-only amenities including a dedicated concierge service, a sauna and private wellness studio, a gymnasium and fitness studio, a resort-style rooftop pool and sundeck.

There will also be a&nbsp;residents’ lounge, private dining and a wine cellar, and co-working facilities with an on-site meeting room and boardroom.

&nbsp;

&nbsp;

[smartcode_project:default project_id=134323 project_image_fid=6382]

ALAND Founder Andrew Hrsto said the company knew they could create something "iconic" with The Walden when they saw the site.

&nbsp;

“As a company, we had been searching for a site in one of Sydney’s blue-chip locations, spanning the Eastern Suburbs, the Sydney CBD and the North Shore, and when we had the opportunity to purchase this site, we immediately recognised that it could be something iconic – being the last development with a view offering this exceptional.

“We identified the attributes and quality of the site as being perfectly aligned for ALAND – and we feel that this off-market acquisition is a perfect opportunity to showcase our craftmanship and expertise through a truly unique offering."

[smartcode_project:default project_id=134323 project_image_fid=6399]

Hrsto pointed to ALAND’s longstanding development expertise as a significant benefit in delivering a positive outcome for The Walden.

“Being a fully integrated development and construction business with a highly experienced team, we have the benefit of in-house experts across the development spectrum, from acquisitions, design, planning, and construction, to sales, marketing, property management, through to building management.

“As one of Australia’s largest private development and construction groups, we’ve been in operation for 23 years, with a Gold Star iCIRT rating and a 100 per cent delivery success rate across numerous masterplanned and mixed-use projects – and we’re very much looking forward to bringing this expertise to The Walden and contributing to the ongoing revitalisation of North Sydney."

The Walden is the latest development in Sydney to have the 10-year Latent Defects Insurance policy by Resilience Insurance, protecting buyers from any structural or waterproofing-related issues for 10 years post-completion.&nbsp;

Demolition of existing structures on The Walden site has already commenced through specialist civil contractor Moits, with the aim of completing preparatory ground works by the end of 2025, ahead of construction commencement in early 2026.

[smartcode_project_cta:default project_id=134323]

Joel Robinson

ALAND unveils The Walden, North Sydney's latest luxury apartment development

<a href="https://www.apartments.com.au/developers/toga-group">TOGA</a> has opened sales for the final building in Macquarie Rise, its latest mixed-use development in Macquarie Park.

Since launching its <a href="https://www.apartments.com.au/new-apartments/macquarie-rise-122-herring-road-macquarie-park-nsw-2113">Macquarie Rise</a> in late 2023, TOGA has secured over 125 sales in the Herring Road development, to a range of purchasers, from first home buyers to investors and downsizers. Around 65 per cent of purchasers have been owner-occupiers.

TOGA has now launched a new release of one-, two-, and three-bedroom apartments in the final building, Saunders Rise. Many of the apartments feature multi-purpose rooms and offer views of the surrounding greenery. Also part of the release is a series of&nbsp;sub penthouses housed on the upper floors.

[smartcode_project:default project_id=89243 project_image_fid=242696]

&nbsp;

“We’re delighted with the ongoing strong interest in our Macquarie Rise development, which is testament to the need for premium housing in this much-loved Sydney suburb,"&nbsp;Allan Vidor AM, Managing Director at TOGA, said.

"We’re proud to be able to offer buyers a unique product that includes luxury amenities, spacious living areas and flexible layouts, designed to suit all kinds of buyers, from young professionals to families and investors.

“We have long been advocates of Macquarie Park, and once Macquarie Rise is complete, TOGA will have built 1,000 apartments in the area, delivering much needed homes within a thriving precinct. It’s great to see the area become renowned for high-quality apartments, proximity to amenities and green spaces."

TOGA, one of Australia’s few Gold Star iCIRT rated developers, is also handling construction of Macquarie Rise. They are on track to complete the building in 2027.

[smartcode_project:default project_id=89243 project_image_fid=310789]

Macquarie Rise boasts a prime location, placing residents within immediate reach of Macquarie Centre, Macquarie University, and the newly completed Macquarie University Metro, connecting to the Sydney CBD is just over 20 minutes.

&nbsp;

Macquarie Rise residents also have access to Club Rise, an exclusive, residents only lounge designed by luxury hotel designers Stack Studio, offering an abundance of work and break-out areas, a Pilates studio, a gym, and a karaoke room. As well as these premium amenities Macquarie Rise will also feature an impressive podium top 20m lap pool.

[smartcode_project:default project_id=89243 project_image_fid=242695]

“Offering luxury, spacious apartments in a vibrant and well-connected neighbourhood, it’s no surprise that Macquarie Rise remains popular with a range of buyers," said TOGA's General Manager of Sales, Anthony Falas.&nbsp;

"With interest rates tracking downwards, we expect the final apartments to continue to receive high levels of interest.”

Located at 122 Herring Road, Macquarie Park, the development will be delivered in partnership with Baptist Union NSW and Morling College with a value of over $400 million.

&nbsp;

[smartcode_project_cta:default project_id=89243]

TOGA launches final stage apartments in Macquarie Rise

Southern Cross Station anchors the western end of <a href="https://www.apartments.com.au/developments/melbourne-vic-3000">Melbourne</a>’s CBD, connecting metropolitan and regional rail with tram and bus interchanges in one of the city’s busiest transport corridors.&nbsp;

Just metres away, <a href="https://www.apartments.com.au/new-apartments/640-bourke-street-melbourne-640-bourke-street-melbourne-vic-3000">640 Bourke Street</a>&nbsp;will place residents in the heart of the city, with immediate access to Spencer Street trams, a growing mix of retail, hospitality and cultural venues, and a neighbourhood evolving into a lively residential precinct.

Developed by <a href="https://www.apartments.com.au/developers/far-east-consortium">Far East Consortium</a>, the 68-level project integrates a sculptural glass tower with the heritage-listed Eliza Tinsley Building on a 2,765 sqm Bourke St site.&nbsp;

[smartcode_project:default project_id=509 project_image_fid=335425]

Designed by <a href="https://www.apartments.com.au/architects/rothelowman">Rothelowman</a>, the development replaces a previously approved scheme for 813 apartments with a refined offering of just over 600 larger-format residences, responding to a growing owner-occupier demand for spacious city living.

The location sits within a dynamic pocket undergoing significant transformation. Marvel Stadium and the Docklands waterfront are less than 10 minutes away on foot, offering both sports and leisure attractions.&nbsp;

Bourke Street Mall, Queen Victoria Market, and the State Library are all within walking distance, while Flagstaff Gardens, Melbourne’s oldest park, provides a green escape just to the north.

&nbsp;

[smartcode_project:default project_id=509 project_image_fid=335422]

Proximity to some of the city’s largest employers and education hubs, including the courts precinct, legal chambers, RMIT, and major hospitals, makes 640 Bourke Street an appealing residential address for professionals, families and students alike.

Education opportunities span all levels. Nearby, Haileybury City Campus offers private schooling just a short walk from 640 Bourke Street. Just beyond the CBD fringe, Carlton Gardens Primary School, one of Melbourne’s oldest state primary schools, and Docklands Primary School provide convenient government schooling options.

Higher education is equally accessible. RMIT University’s city campus spans multiple buildings just a few blocks away, while the University of Melbourne’s Parkville campus is easily reached via tram along Swanston or Elizabeth Streets.

Victoria University’s City Queen campus, focused on law and business, is also close by, positioning 640 Bourke Street within walking distance of three of Melbourne’s major tertiary institutions.

[smartcode_project:default project_id=509 project_image_fid=335426]

The neighbourhood’s retail tapestry continues to evolve into something distinctly local and walkable. Just steps away, Woolworths Metro on Bourke Street ensures that everyday essentials are easily within reach.&nbsp;

For larger shopping trips, Spencer Outlet Centre on Spencer Street and QV Melbourne on the opposite side of the CBD broaden the offering with supermarkets, fashion, dining and specialty stores.

The lane-to-lane vibe unfolds beautifully in nearby arcades and alleys. Hardware Lane, with its European-style red-brick paving and alfresco dining, pulses with jazzy evenings and casual lunches.

A few minutes north, Howey Place and Centre Place offer leafy, boutique-lined lanes where hidden cafés and niche retailers congregate under historic glass-covered cloisters.

Completing this tapestry is the newly opened Mecca “beauty playground” on Bourke Street. Spanning 4,000 sqm over three levels, the flagship blends immersive retail within an art-deco heritage setting.

&nbsp;

[smartcode_project:default project_id=509 project_image_fid=335427]

This finely grained network of shops, eateries, arcades and service outlets defines the everyday lifestyle at 640 Bourke Street - further enriched by over 3,000 sqm of resident amenity including a Turkish-inspired pool, gym, co-working rooms and private cinemas.&nbsp;

Apartments are priced between&nbsp;$640,000 and $3.95 million. Off the plan stamp duty concessions available until October 2026. Prospective buyers can visit the on site display gallery which has&nbsp;fully built one, two, and three-bedroom apartments.

[smartcode_project_cta:default project_id=509]

640 Bourke Street: A heritage address at the heart of Melbourne

Lower North Shore development specialists&nbsp;<a href="https://www.apartments.com.au/developers/abadeen-group">Abadeen</a>&nbsp;has topped out its new local apartment development,&nbsp;<a href="https://www.apartments.com.au/new-apartments/northcote-collective-naremburn-2-6-northcote-street-naremburn-nsw-2065">Northcote Collective</a>.&nbsp;

Located in the tightly held suburb of <a href="https://www.apartments.com.au/developments/naremburn-nsw-2065">Naremburn</a>, Northcote Collective is a collection of just 58 one-, two-, and three-bedroom apartments designed by award-winning architects Rothelowman.&nbsp;

The building is just a five to 10 minute walk from the heart of Crows Nest and the new&nbsp;St Leonards and Crows Nest Metro stations. Abadeen has also brought doorstep convenience, with a ground-floor retail offering on Northcote Street.

Northcote Collective is being delivered by&nbsp;<a href="https://www.apartments.com.au/builders/decode">Decode</a> — an iCIRT-rated construction company well regarded in the new development industry.

[smartcode_project:default project_id=114189 project_image_fid=272840]

“This is an important and exciting moment for Northcote Collective, and we’re proud to celebrate this milestone with our partners, consultants, and future residents,” said Justin Brown, Executive Chairman and Founder of Abadeen.&nbsp;

“From the outset, our vision was to create something truly special for Naremburn — homes that respect the character of the neighbourhood while elevating the standard of Lower North Shore living. With connectivity to transport, retail on the doorstep and a true village lifestyle, this milestone also comes at a perfect time when buyer confidence is returning to the market. I am incredibly proud of our team and of Decode for their dedication in helping us bring this vision to life.”

[smartcode_project:default project_id=114189 project_image_fid=272865]

The development is two-tiered, with two rooftops for residents. The taller building has an impressive rooftop pool, a rare inclusion in the new Sydney apartment market. The level, with panoramic views, also includes an entertaining terrace with barbecue facilities.

Local downsizers and young professionals are showing the strongest interest in the development, with recent improvements in the property market — supported by three rate cuts in 2025 — boosting borrowing power and buyer confidence.

Auction activity across Sydney surged by almost 30 per cent in recent weeks, with clearance rates above 70 per cent — signalling a renewed wave of buyer demand.

Northcote Collective will welcome buyers in 2026.

[smartcode_project_cta:default project_id=114189]

Abadeen tops out Northcote Collective in Naremburn

Sunshine Coast-based <a href="https://www.apartments.com.au/developers/devcon-property-group">Devcon Property Group</a> has acquired one of Maroochydore’s most prominent development sites for $12 million unlocking the potentialfor a mixed-use project in the Cotton Tree precinct.

&nbsp;

The 4,178 sqm site at 41–43 Aerodrome Road—well known locally as the former home to one of Australia’s last Sizzler restaurants—was sold via an off-market expressions of interest campaign by Colliers agents Nick Dowling and Baydn Dodds. More than 70 targeted buyer groups were approached, resulting in multiple competitive offers for the property.

Devcon Property Group Managing Director Michael Kain said the acquisition was a strategic move in line with the company’s focus on delivering high-quality projects in prime coastal locations.&nbsp;

“We’re excited about the possibilities this site, in one of the Sunshine Coast’s most iconic beachside &nbsp;communities, offers for a broad range of development outcomes,” Kain said.

“Its location, ocean view potential, and proximity to the Maroochydore CBD and beach make it an &nbsp;outstanding development prospect. Our plans are to refurbish the existing building and then review &nbsp;development options for the remainder of the site.”&nbsp;

<img alt="Aerodrome Rd site overlooking Beach (Large)" data-entity-type="file" data-entity-uuid="a29dc4ed-68c1-4bec-a4fc-283063dcde1e" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Aerodrome%20Rd%20site%20overlooking%20Beach%20%28Large%29.jpg?VersionId=b0WxJWevmLoAfCP4YvGImZpR3rSCJJ9L" />

Colliers Special Projects Manager Baydn Dodds said the sale reflected the ongoing strength of the &nbsp;Sunshine Coast’s development site market, particularly for projects capable of achieving water views. &nbsp;

“Sites of this scale, in walkable beachside locations with ocean views, are tightly held and continue to attract significant interest from both local and national developers,” Baydn Dodds said. &nbsp;

“Holding a prominent position as the former home to one of Australia’s last Sizzler restaurants and more recently occupied by Rashays, the prime site is located just 150 metres from Maroochydore Beach.&nbsp;

“With stunning ocean view potential, located in one of the Sunshine Coast’s best known iconic &nbsp;beachside communities, within steps of shops, cafes and the beach it is no surprise that there was strong interest in the site. The transaction highlights the ongoing depth of demand for well-located &nbsp;mixed-use sites across the Sunshine Coast.”&nbsp;

Colliers Sunshine Coast Managing Director Nick Dowling said the transaction reinforced the &nbsp;Sunshine Coast’s status as one of Australia’s most active development markets.&nbsp;

“The combination of strong population growth, lifestyle appeal, and infrastructure investment is &nbsp;driving demand for quality development opportunities,” Nick Dowling said. &nbsp;

“The Sunshine Coast is one of only three markets nationally to record an increase in crane numbers, &nbsp;reflecting the strength of the region’s construction pipeline.&nbsp;

“Opportunities like this are rare and continue to generate strong buyer interest in the region.”&nbsp;

The Sunshine Coast development market is booming, with several high-profile developers like Cube Developments, Gardner Vaughan Group, and RCQ, planning developments in the region.

Devcon buys Sunshine Coast’s former Sizzler site for new apartment development

Apartment Block

Investors have paid $7.1 million for an art deco block of six two-bedroom apartments in Sydney’s Bondi Beach.

The property was listed for auction through Alex Hart of Hart Estate Agents with a price guide of around $5 million.

The 38 Simpson Street property was bought by Peakdeed Properties No 1.

It had been held by the Armstrong family for nearly six decades.

There were two apartments per floor.

It came with an annual income of $185,000 and the suggestion there was room for improvement.

Alex Hart of Hart Estate Agents had given a price guide of around $5 million



jchancellor

$7.1 million Bondi Beach whole apartment block sale

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A block of four units at Mount Isa has been sold for $205,000.

The investment opportunity was four one bedroom units within the Pioneer precinct. 

It last sold in 1990 at $125,000.

The official site value was $47,500 as at June 30.

Each unit offered built in cupboard, modern bathroom, open plan living and functional kitchen plus an eternal laundry. 

There was an undercover carport at the front of the property. 

The 852 sqm site at 27 Kaeser Road was securely fenced.

The units were sold by John Tully at City and Country Realty Mount Isa after being on the market for 71 days, according to CoreLogic.
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The block of four units was sold last Friday at $205,000.

Mount Isa block of units sold for $205,000

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A block of nine apartments sold on the weekend following a makeover in Vaucluse for $10.4 million.

The three storey complex at 8 Marne Street has 15 bedrooms.

The selling agent Paton Jamieson advised the 1970s block had undergone a recent transformation so generous depreciation benefits were available.

The whole block on a 576 sqm block was traded in February last year at $7 million, and at $5.75 million in 2015.

It has 3x1 bedroom apartments, plus 6x2 bedroom apartments and 7x single lock-up garages.

When sold last year its gross annual income was put as $251,000 with an estimated market gross income of $288,600 after a rental reversion opportunity to increase rents to market at lease expirations.

It came with a NLA of 513sqm.

The Orcades coplex is located close to the Vaucluse Village in a pet friendly community.

Some apartments had ocean views.

McDonald Industries had been preparing to sell the apartments separately with pricing from $899,000 for the one bedroom apartments and the two bedroom apartments from $1,095,000.

<h2>Popular Vaucluse projects to check out:</h2>

[smartcode_project:default project_id=84683]

[smartcode_project:default project_id=8392]

[smartcode_project:default project_id=29375]
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A block of nine apartments has sold in Vaucluse for $10.4 million

Vaucluse apartment block sells for $10.4 million

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A Yarraville block of apartments was sold in one line at weekend auction for $2.72 million.

The six two-bedroom units had been advertised as having a conservative rental return of about $90,000 a year.

The apartments were typically between 60 sqm and 70 sqm.

The price guide was $2.25 million to $2.4 million.

There were four bidding groups seeking the two storey brick block on 836 sqm at 30 Stephen Street on the corner of Berry St.

Its reserve came as $2.55 million at its Greg Hocking auction.

It was reportedly listed by a family of real estate agents and sold to another real estate family.

<h2>Local Yarraville Projects:</h2>

[smartcode_project:default project_id=24477]

[smartcode_project:default project_id=3566]
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The Yarraville block of six sold for $2.72 million

Yarraville apartment block sold for $2.72 million

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Bidding stopped short of the vendor expectations when 124 Doncaster Avenue, Kensington went to auction Monday.

The top bid was $5.8 million.

There were five bidders competing after the $5 million opening bid.

The 124 Doncaster Avenue, Kensington has is a level 613sqm block trackside to Royal Randwick.

<img alt="" height="526" src="https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/kensington_unit_block2.jpg" width="790">

The two-storey complex comprises four three bedroom apartments at 97sqm each.

There were six double lock up garages plus two visitor parking spaces.

"There is incredible scope to renew, refurbish, add a storey, redevelop completely (STCA) or simply retain as is," the marketing by Bradfield Cleary agent William Tsagaris said.

[smartcode_project:default project_id=6201]

Its GAR was advised as $117,843 pa with potential to increase.

It has R3 Zoning - Medium Density Residential, 0.9:1 FSR with a 551sqm buildable area and 12m height restriction.

The council rates are $1,572 per quarter.
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The complex had four apartments at 124 Doncaster Avenue, Kensington.

Trackside Kensington apartment block passed in at $5.8 million

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The Double Bay apartment block Monterey sold at Monday auction for $6,8 million. There are seven apartments in the 1920s complex at 256 New South Head Road, up the hill from the village.

It was marketed by NG Farah agent Joe Recep as "a rare entire apartment block offering."

Buyers were advised there was scope to "add further value" with the potential to sell the apartments separately.

The building was already a strata block with the units sold off separately in the early 1990s. The apartments were mostly three bedroom, two bathroom with high ceilings and bay windows.

The most recently available apartment was at a $550 a week asking rental, down on its peak $750 a week rate sought in 2015. It was up for rent at $350 a week. in 2005.

The period building came with a wide timber staircase.

The bidding at Cooley Auctions opened at $6 million. There were just the two bidders competing.

The vendor had accumulated all seven apartments between 2001 and 2008 at a $2.5 million cost.

Monterey is diagonally opposite the 2018-completed Golden Age complex, Essence which is a striking strata complex at 315-321 New South Head Road.

[smartcode_project:default project_id=6002]

Golden Age secured off the plan sales in 2016. A recent resale was $2.75 million last March for an apartment sold off the plan in 2016 at $2.66 million.

Essence has 38 residences in two buildings.
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A Double Bay block of seven apartments was sold at auction for $6.8 million

$6.8 million paid for Double Bay block of apartments

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Surfing royalty Mick Fanning has listed a Coolangatta apartment block he’s renovated since buying 14 years ago.

Fanning, who stepped away from professional surfing in 2018 having won three world championships over his near two decade professional career, paid $3.1 million for the tired 1980s brick block in 2007.

<img alt="" height="875" src="https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/fanning_coolangatta_2.jpg" width="1200">

Now the Boundary Street building has a coastal white facade and each of the units and granny flats have been renovated.

There are two three bedroom apartments, one on the ground level and one on the second level.

Each unit has its own granny flat at the rear of the 505 sqm block. There's a blank canvas back yard and two garages.

<img alt="" height="890" src="https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/fanning_coolangatta_3.jpg" width="1200">

LJ Hooker Palm Beach agents David Lonie and Mishy Canning suggest the building can provide four incomes streams, around $770 to $800 a week for each apartment and $470 to $500 a week for the two granny flats.

Lonie and Canning have a February 7 auction on site at the block which is footsteps to Snapper Rocks. They advise there is potential for separate sales of the apartments.

Fanning will retain a foothold on the street. He owns the block of four two doors down, which he bought for $1.2 million in 2006, and the block next door to that, secured in 2005 for $1.39 million.

<h2>Coolangatta's newest developments</h2>

<h2><a href="/buildings/miles-kirra-beach-hotel-101-musgrave-street-coolangatta">Miles Residences Kirra Point</a></h2>

Address: Corner Miles Street and Marine Paradise, Kirra QLD 4225 
Prices from: $545,000

<a href="/buildings/miles-kirra-beach-hotel-101-musgrave-street-coolangatta"><img alt="" height="900" src="https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/kirra_point_miles_residences_pool.jpg" width="1600"></a>

Miles Residences at Kirra Point, the luxury redevelopment of the Kirra Beach Hotel by KTQ Group, is Coolangatta's most impressive new developments. Already nearly 50 per cent of the 118 apartments have sold since their launch in December.

Designed by Woods Bagot, the project, which includes a pub and pavilion, is set to be completed in early 2023.

<a href="/buildings/maya-kirra-beach-1-coyne-street-coolangatta">Maya Kirra Beach </a>

Address: 1 Coyne Street, Coolangatta QLD 4225 
Prices from: $1.93 million

<a href="/buildings/maya-kirra-beach-1-coyne-street-coolangatta"><img alt="" height="711" src="https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/maya_kirra_beach.jpg" width="1200"></a>

Only a few residences remain in the top end Maya Kirra Beach block of just 15 three and four bedroom residences. The building, developed by Spyre Group and completed in September 2020, only has four bedroom apartments left starting at $1.93 million.
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Surfing royalty Mick Fanning has listed a Coolangatta apartment block he’s renovated since buying 14 years ago.



Surf legend Mick Fanning lists Coolangatta apartment block

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Garfield Towers, a Surfers Paradise building comprising 30 strata titled units, has been listed for sale.
The block of apartments at <a href="https://www.realestate.com.au/property-unitblock-qld-surfers+paradise-134354014" target="_blank">43 Garfield Terrace</a>, right on the beachfront, dates back to the mid 1960s.
Garfield was the first high rise ever to be built on the beach.
The lots will be offered by the individual owners, many of whom own several apartments.
The owners know a re-development is the best outcome for a building once known as the most luxurious accommodation available on the Gold Coast.
There is interest from some of the owners in acquiring one of the new apartments.
All 30 apartments have two bedrooms.
The tightly held block last saw a sale in 2019, when a ninth level apartment sold for $510,000.
It was the first sale since a $325,000 sale over a seventh level unit in 2015.
Oxbridge Agent's Thomas Dennis is marketing the Gold Coast property on 1,620 sqm that sits next door to the Northcliffe Surf Life Saving Club.
 
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j.ballantyne1990-6AQqhLzZaK

Entire beachfront Surfers Paradise unit block listed

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block of 12 residential units in Fairfield has been sold under the hammer for $3,910,000.
The 1,252 square metre property at <a href="https://ecomms.raywhite.com/collect/click.aspx?u=jRYOrR8N39QzG/Nyy8oj1MsQ8lDBqOLeGnfqPgIdmzmVW8USMH2yRAUyHv8q5VWPKM4HOTcI/vgbUU40dRApZ3AYyoFpMMFU5rZIBH5YezVayWq2FlwjDRuJXmiKLnlJ&amp;rh=ff0056a07190f28fc36e721b9948b5621bb838d2" target="_blank">30 Railway Parade</a> provides a potential gross income of about $200,408 per annum.
The property was marketed and sold by Ray White Commercial NSW – Western Sydney Associate Director Victor Sheu, Managing Director Peter Vines and Director Joseph Assaf, in conjunction with Stanton Hillier Parker.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2019/12/20/unnamed%201%201.jpg" alt="">
Sheu said after a campaign that received more than 85 enquiries, the property sold to a private investor.
“We had interest from Sydney investors, Asian investors, unit traders and local high-net-worth investors from the Fairfield and Cabramatta region, resulting in nine registered bidders on auction day,” he said.
“Developers did enquire on this asset, as it was zoned R4 and capable of being rebuilt into new units, but the investment market at the moment is stronger than development.   “The block had 10 of 12 units occupied at the time of sale and bidding started at $3,000,000. It took more than 30 more bids to climb up to the sale price that was $160,000 over reserve.”
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2019/12/20/unnamed%202.jpg" alt="">
Vines said the Fairfield was similar to Western Sydney in that it attracted a lot of local owners.
“The locals like to stay in their area and a few bidders in attendance were from the region, but what attracted the number of bidders was the investment nature of the property,” he said.
“With the lack of investment opportunities in the market, buyers are eagerly looking for more opportunities where there's an existing income and a flexible exit strategy.
“The market for blocks of units have always performed well amongst private investors due to its low-risk nature.”
Assaf said Fairfield happened to also grasp a lot of Asian attention due to its proximity to Cabramatta.
“It benefits from its close proximity to both Parramatta and Liverpool CBD, which are both booming and looking to increase employment where housing will be required,” he said.
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Fairfield residential block sells for $3.91 million at auction 

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An apartment block in Woollahra has been sold for $7.2 million.
Set on a level 695 square metre block, 3 Trelawney Street comprises of five units.
It included a three and a half-bedroom townhouse, two three-bedroom units, and two one-bedroom units.
The two-storey complex was left to St Luke’s Care and The Garvan Research Foundation in the will of the late owner, Martha Danos.
The property was built in 1948.
The median sale price of individual units in Woollahra is $1.19 million, with a median rental yield of of $700 per week.
Bob Guth, from BradfieldCleary, sold the property.
Earlier this week $14.66 million was paid for two Edgecliff Road apartment blocks.
They had a total of 24 x 1 bedroom units with 12 in each building offering a total NSA: 1,291 sqm internal area.
The total land area was 1,100 sqm.
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