<p><a href="https://www.apartments.com.au/developers/consolidated-properties">Consolidated Properties Group</a> (CPG) is approaching the launch of its latest Brisbane riverfront development, Castile, on the dress circle Skyring Terrace in Newstead.</p>

<p>VIP buyers are now being engaged, with a full public sales launch coming later this year.</p>

<p>Positioned as the final opportunity to secure a new absolute riverfront residence on the East bank of Newstead, Teneriffe or New Farm, Castile at 47 Skyring Terrace has been designed by <a href="https://www.apartments.com.au/architects/woods-bagot">Woods Bagot</a> as a timeless addition to the Brisbane skyline.&nbsp;</p>

<p>[smartcode_project:default project_id=150489 project_image_fid=371113]</p>

<p>The name Castile draws on themes of permanence, sophistication and legacy, reflecting a broader vision centred on enduring architecture and timelessness in the rarest of riverfront positions.&nbsp;</p>

<p>CPG Chairman and CEO Don O’Rorke said the project had been envisioned as a future Brisbane icon.&nbsp;</p>

<p>“With 47 metres of direct river frontage and never to be built out views, 47 Skyring Terrace is the definitive address on the Brisbane River,” O’Rorke said.&nbsp;</p>

<p>[smartcode_project:default project_id=150489 project_image_fid=371114]</p>

<p>“Rather than following trend-based apartment design, Castile draws inspiration from Brisbane’s great heritage buildings, reinterpreting classical architecture into a contemporary riverfront landmark designed to stand proudly for the next 100 years,” he said.&nbsp;</p>

<p>The approved development will comprise 227 apartments across a 25-storey tower alongside a boutique six-storey riverfront building of just 12 residences.&nbsp;</p>

<p>Construction is scheduled to commence in September 2026.</p>

<p>[smartcode_project_cta:default project_id=150489]</p>


Joel Robinson

CPG unveils Castile Newstead ahead of upcoming sales launch

<p>Australia’s online shopping habits have shifted dramatically over the last decade. As eCommerce volumes surged, so too did the frustrations that came with traditional parcel delivery: missed deliveries, long Post Office queues, parcel theft and the challenge of being home during business hours.</p>

<p>Australia Post’s Parcel Lockers emerged as one of the more practical responses to that changing consumer behaviour.</p>

<p>What started as a relatively niche delivery option has evolved into a nationwide network of more than 1,400 self-service Parcel Lockers positioned at train stations, shopping centres, supermarkets and Post Offices across the country. The system allows Australians to send, collect and return parcels 24 hours a day, fundamentally changing how many people interact with deliveries.</p>

<p>The appeal is relatively straightforward: flexibility.</p>

<p>Instead of waiting at home for a delivery driver or rushing to a Post Office before closing time, users can direct eligible parcels to a Parcel Locker location of their choice. Once the parcel arrives, Australia Post sends a notification with a collection code or QR access through the AusPost app, allowing customers to retrieve their package at any time within the collection window.</p>

<p>For apartment residents in particular, the system has become increasingly valuable.</p>

<p>Higher-density living has created logistical challenges around deliveries, especially in buildings without concierge services or secure parcel rooms. Missed deliveries are common, while parcel theft has become an increasing concern as online shopping volumes continue to rise.</p>

<p>Australia Post itself has repeatedly highlighted the growing issue of “porch pirates” during peak shopping periods, encouraging customers to use Parcel Lockers as a safer alternative to unattended home deliveries.</p>

<p>That security aspect is one of the key reasons the Australia Post Parcel Locker network has grown so rapidly.</p>

<p>Parcel Lockers are positioned as secure, monitored collection points that reduce the risk of theft while also improving delivery efficiency for Australia Post. Instead of multiple redelivery attempts, parcels can be consolidated into a single secure destination.</p>

<p>The Parcel Lockers themselves are free to use through a MyPost account and support a range of parcel sizes up to 16 kilograms and dimensions of approximately 35 x 44 x 61 centimetres.</p>

<p>Beyond receiving parcels, the system has increasingly become integrated into the broader eCommerce ecosystem.</p>

<p>Customers can now use Parcel Lockers to return online purchases, while retailers have embraced the model as a way to improve delivery success rates and reduce friction in the shopping process. Australia Post has actively expanded partnerships with major retailers and promoted Parcel Lockers as part of a broader out-of-home strategy.</p>

<p>The timing of that expansion aligns with broader changes in Australian shopping behaviour.</p>

<p>The acceleration of online retail during and after the pandemic placed enormous pressure on delivery infrastructure. Parcel volumes reached record highs, particularly during Black Friday and Christmas periods, with Australia Post delivering more than 100 million parcels during peak festive seasons.</p>

<p>That growth forced logistics providers to rethink the “last mile” of delivery, widely regarded as the most expensive and operationally difficult stage of the process.</p>

<p>Parcel Locker systems have increasingly been viewed as part of the long-term solution.</p>

<p>The concept itself is not unique to Australia. Parcel Locker networks have become common globally, particularly across Europe and Asia, where dense urban environments and apartment living create similar logistical challenges. But Australia’s geography and suburban sprawl made adoption slower initially.</p>

<p>Now, however, the convenience factor is driving mainstream usage.</p>

<p>For commuters, Parcel Lockers near train stations allow parcels to be collected on the way home from work. For apartment dwellers, they remove the uncertainty around access and missed deliveries.</p>

<p>The rise of the AusPost app has also streamlined the experience, centralising notifications, tracking and Parcel Locker access into a single platform. Australia Post has increasingly pushed customers toward app-based delivery management, partly as a way to combat phishing scams and fake delivery notifications, which have become more sophisticated in recent years.</p>

<p>The Parcel Locker model is also beginning to influence property development itself.</p>

<p>Parcel management has become a growing consideration in apartment building design, particularly as online shopping becomes embedded in everyday life. Many new residential developments are now incorporating dedicated parcel rooms or Parcel Locker systems into foyers and communal spaces.</p>

<p>For developers, parcel management is increasingly viewed as part of the broader resident amenity offering, alongside gyms, wellness spaces and communal work areas.</p>

<p>That reflects a wider evolution in how residential buildings are designed.</p>

<p>Apartment buyers are placing greater emphasis on convenience, security and operational functionality, particularly in higher-density urban environments. Parcel delivery, once considered a minor operational detail, has become an increasingly important part of that equation.</p>

<p>Australia Post’s Parcel Locker network sits at the centre of that behavioural shift.</p>

<p>What began as a simple alternative delivery option has evolved into a key piece of infrastructure supporting Australia’s growing eCommerce economy and changing urban lifestyles.</p>

<p>And as online shopping continues to expand, the role of Parcel Lockers is likely to become even more embedded in how Australians live, shop and receive goods.</p>


How Australia Post Parcel Lockers changed parcel delivery convenience in Australia

<p>Perth’s new apartment market recorded its strongest quarter of sales since Q4 2021, with 412 apartments sold in Q1 2026 and a record quarterly sold value of $537 million, according to Urbis’ latest Apartment Essentials results.</p>

<p>Urbis said the March quarter result reflects strong, highly product‑specific demand across both ends of the market, from more attainable projects delivering at scale, through to premium stock being absorbed by equity‑rich downsizers.&nbsp;</p>

<p>David Cresp, Partner at Urbis, said the key story in Perth is not demand, it is the market’s ability to convert demand into delivered housing.&nbsp;</p>

<p>“This is the strongest sales quarter since Q4 2021, and it reinforces that demand in Perth is real and it’s local,” David Cresp said. “But the task now is delivery, turning that demand into projects that can actually be built and completed.”&nbsp;</p>

<p>[smartcode_project:default project_id=110291 project_image_fid=302785]</p>

<h2>Affordable product leads, premium demand remains resilient</h2>

<p>Sales in Q1 were led by more affordable projects, with The Boulevard (SKS Group) recording 115 sales in the quarter, the presentation noting this is only the second time a single project has surpassed 100 quarterly sales. The project was able to offer more affordable housing product right next to a train station.&nbsp;</p>

<p>Palmyra West (Finbar) also delivered strong results with 28 sales in Q1, following 84 sales in Q4, with an average price of under $800,000, underscoring depth of demand for well‑located, attainable new stock.&nbsp;</p>

<p>At the premium end, Urbis said downsizer demand is continuing, with the results highlighting Romeo (Applecross, Finbar) recording 75 sales and reaching almost 50% sold in one quarter.</p>

<p>Jual (Shenton Park, Celsius Property) also posted a strong quarter with 28 sales, reaching 39% sold in one quarter.</p>

<p>Urbis noted that Perth apartment demand is not speculative, not investor‑led, and not uniform, describing it as localised, often equity‑driven and highly product‑specific, a pattern reflected in the polarisation between strong “attainable” performers and premium downsizer product.&nbsp;</p>

<p>[smartcode_project:default project_id=148957 project_image_fid=364102]</p>

<h2>Prices underpinned by costs, and the delivery risk is growing</h2>

<p>Urbis said pricing pressure is cost not demand‑driven: construction costs and delivery risk are now a central constraint, with the results noting build costs remain elevated and volatile, and that energy, fuel and labour uncertainty weigh on feasibility.</p>

<p>David Cresp said a growing challenge for private Build‑to‑Sell developers is simply securing a builder in the current environment.</p>

<p>“Developers are really feeling the pressure from a building market that was operating at capacity and securing a builder is challenging,” David Cresp said, adding that even where a builder can be secured, “trying to get to the price that makes the development financially viable is incredibly challenging in the current market.”&nbsp;</p>

<p>Urbis’ broader WA commentary also notes that industry remains at or above capacity with lot and housing creation, and that many builders are limiting new sales to manage stretched workforces and fixed‑price contract pressures, conditions that flow directly into apartment feasibility and delivery timing.</p>

<p>[smartcode_project:default project_id=108869 project_image_fid=317905]</p>

<h2>Supply: improving later, but still constrained, and Perth lags eastern benchmarks</h2>

<p>While near‑term supply remains constrained, Urbis’ forecast shows completions lifting “Supply is forecast to be back above 1,500 apartments per annum for the first time since 2019”, with 1,775 completions forecast for 2026, and volumes remaining above that level over the following years.&nbsp;</p>

<p>Looking further ahead, completions are forecast to reach 2,500 in 2028, with the report noting 32% of that total is social/affordable, reflecting the role of government‑supported delivery in rebuilding the pipeline.&nbsp;</p>

<p>However, Urbis said Perth remains behind comparable markets on pipeline scale. In a national comparison of projects under construction, the report shows under construction Perth Build‑to‑Sell (BTS) at 3,446 apartments versus the Gold Coast at 7,922. Mr Cresp said “The challenge for Perth is how to we grow the delivery pipeline”.</p>

<p>Urbis’ conclusion is that Perth’s market is increasingly defined by product discipline and delivery certainty, with the research identifying “delivery certainty is key” and calling out builder risk and procurement models as core success factors, alongside “timing and staging”.&nbsp;</p>


Perth apartment sales hit strongest pace since late 2021 as builder capacity tightens

<p><a href="https://www.apartments.com.au/developers/sammut-developments">Sammut Group</a> has secured development approval for its latest Brisbane apartment project, marking the Sydney developer’s next step in expanding its Queensland pipeline following the success of its debut Gold Coast development, Coast.</p>

<p>The approved project at <a href="https://www.apartments.com.au/new-apartments/44-glen-road-toowong-qld-4066">44 Glen Road, </a><a href="https://www.apartments.com.au/developments/toowong-qld-4066">Toowong</a> will deliver a 15-storey riverfront apartment building with 42 residences, significantly increasing the scale of the site’s previous approval for a smaller luxury scheme. Designed by Bureau^proberts, the development will comprise a mix of predominantly four-bedroom and two-bedroom apartments positioned to maximise Brisbane River and city views.</p>

<p>Sammut Director Julian Sammut said the group had been actively searching Brisbane for several years before identifying Toowong as the right fit.</p>

<p>“Brisbane was the right step for Sammut,” Sammut said.</p>

<p>“With the success of Coast we thought we should definitely look to do more in Queensland alone. We then pushed up to look at Brisbane. We've been looking for I'd say two to three years actually and it was hard to find the right location.”</p>

<p><img alt="Sammut makes Brisbane apartment play" data-entity-type="" data-entity-uuid="" src="https://res.cloudinary.com/dz9xllyip/image/fetch/f_auto,c_limit,w_1440,q_75/https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/field/image/Screenshot%202025-12-23%20at%203.27.14%E2%80%AFPM.png?VersionId=dYAVIL7qdcGA8ojvkslSrLjczXFejSSx" /></p>

<p>Sammut said suburbs including New Farm and Teneriffe were considered before the group ultimately focused on Toowong due to its strong downsizer demographic and limited supply of developable riverfront land.</p>

<p>The site was acquired off-market after what Sammut described as a lengthy negotiation and planning process, with the developer pursuing an uplift to the original approval.</p>

<p>“We are DA approved now which is very exciting,” Sammut said.</p>

<p>“We've had our change approval come through and we've obviously doubled the height, 15 storeys plus rooftop. We've got 42 amazing apartments that are going to be coming to market soon.”</p>

<p><img alt="Sammut makes Brisbane apartment play" data-entity-type="" data-entity-uuid="" src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,dpr_2.0,q_auto:good/https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202025-12-23%20at%203.27.26%E2%80%AFPM.png?VersionId=ohkRkY0dIZlqdfME2EZePsCQavRiBadE" /></p>

<p>Bureau^proberts said the design responds to Toowong’s evolving urban character, balancing contemporary apartment living with the area’s established residential identity.</p>

<p>“A place where traditional Queensland living has taken place for centuries; Toowong is seeing a shift of contemporary influence, commercial and retail hubs mixed with well-considered residential offerings – all the while maintaining its character and charm,” the architect noted in planning documents submitted to Brisbane City Council.</p>

<p>The architecture practice said the project’s form was shaped by its riverfront setting, flood considerations, neighbouring building scales, and view corridors.</p>

<p>“They said the mix of four and two-bedroom apartments capture the ‘fundamental qualities of Queenslander living,’ translated into the context of a contemporary subtropical building.”</p>

<p>The development sits just off Coronation Drive within walking distance of Toowong’s retail precinct and the upgraded Regatta ferry terminal, while also benefiting from proximity to the incoming green bridge connection to West End. Sammut said the accessibility and amenity offering were central to the site’s appeal.</p>

<p>The approval adds to growing residential activity along the Toowong riverfront, joining nearby projects including Consolidated Properties’ Monarch Residences and Spyre Group’s ARC Residences.</p>


Sammut secures approval for debut Brisbane apartment development in Toowong

<p>Developer Lanevick is heading back into Sydney’s apartment market after focusing more heavily on the luxury townhouse and terrace sector in recent years.</p>

<p>Lanevick, founded and directed by Steve Maroun, is expecting to receive approval in the coming months for a new apartment development in Gladesville, with the aim to launch it to the market later this year.</p>

<p>The 51-apartment project, designed by Studio Johnston, will comprise a mix of one-, two-, and three-bedroom apartments positioned toward the Hunters Hill downsizer market.</p>

<p>“Traditionally it’s been difficult for people in that market to downsize because there just hasn’t been the right product available,” Maroun said.</p>

<p>“We’re targeting buyers who might have 30 to 40 per cent of their house value sitting in the bank after downsizing.</p>

<p>“They still want good spacious entertaining areas, they still want quality design, but they also want flexibility and the ability to enjoy life a bit more after working hard for a long time.”</p>

<p>The project sits near Boronia Park and within close proximity to the Parramatta River foreshore, an area Maroun says offers more of a Hunters Hill lifestyle than a traditional apartment precinct.</p>

<p>“From a lifestyle perspective, it’s really more Hunters Hill than Gladesville,” Maroun said. “You’re close to the foreshore, close to parklands, and still connected back into the village precinct.”</p>

<p>From level four and above, apartments will capture water views&nbsp;toward Sydney Harbour. Communal amenity will include rooftop entertaining areas, wellness spaces, and a gym tailored toward owner-occupier buyers.</p>

<p>“We’ve really designed these apartments around that buyer coming from the Hunters Hill LGA and what they’re actually looking for in their next chapter.”</p>

<p>The proposed development has also been designed to respond to the changing character of the broader Gladesville town centre, where a growing number of mixed-use and residential proposals are expected to emerge over the coming years.</p>

<p>“Gladesville presented a rare opportunity to deliver a genuinely design-led residential project within an evolving lifestyle precinct, just moments from the growing Gladesville town centre, and we’ve approached the project with a strong focus on architecture, liveability and long-term community value,” Maroun said.</p>

<p>Maroun said Lanevick saw a first-mover advantage within the precinct as planning controls continue to evolve to accommodate greater housing density.</p>

<p>“We think there’s a real opportunity there that hasn’t really been serviced properly yet,” he said.</p>

<p>“There’s going to be a broader evolution of the whole Gladesville village precinct over time, particularly with more activation and mixed-use outcomes.”</p>

<p>The Venus Street proposal will include a commercial and retail component at ground level designed to contribute to that evolving streetscape activation.</p>

<p>“A big part of the thinking was how do you activate that area properly and create more vibrancy and amenity, which is what Hunters Hill has been looking for,” Maroun said.</p>

<p>Lanevick’s focus since 2020 has largely been on smaller-scale luxury townhouse and terrace developments. The developer recently completed Royale Randwick, also designed by Studio Johnston, where prices reached $3.65 million. The project was featured in the UDIA NSW 2026 Professional Development Prospectus and was also named a finalist for Development of the Year.</p>

<p>&nbsp;</p>


Lanevick to cater for Hunters Hill downsizers with new Gladesville apartment development

Apartment Sales

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<p>Eighty Eight, a $1.6 billion mixed-use development in St Leonards, had over 200 people attend its sales launch last week.</p>
<p>70 percent of the 180 Stage 1 apartment sold on the day.</p>
<p>The <a href="https://www.realestate.com.au/project/eighty-eight-by-jqz-st-leonards-600020070" target="_blank">three tower development</a> by Sydney-based Chinese developer JQZ is being marketed by Sunny Properties Group.</p>
<p>JQZ paid $295 million for the site last year, beating out the likes of Mirvac and Meriton who showed interest.</p>
<p><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/2018/2/21/88%20two.jpg" alt=""></p>
<p>Opposite St Leonards train station, the Christie Street development will comprise two residential towers of 47 and 26 storeys, holding 654 apartments in total.</p>
<p>It will include one, two and three bedroom apartments, as well as five five bedroom penthouses featuring their own private lifts. </p>
<p>There will also be a 15-storey commercial and retail building fronting the Pacific Highway.</p>
<p>The project will commence construction in August, with completion expected by 2022.</p>
<p><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/2018/2/21/88%20one.jpg" alt=""></p>
<p>According to Sunny Wu, managing director of Sunny Properties Group, the level of interest in Eighty Eight is proof positive that apartment buyers are still active in the Sydney market.</p>
<p>“While in some respects the Sydney apartment market has flattened out a little, we’re finding that quality projects with first-rate amenities are still attracting plenty of attention – and Eighty Eight By JQZ is a perfect example,” said Wu.</p>
<p>“All apartments will enjoy amazing views, while residents will also have access to a rooftop pool, a lively ground floor laneway retail and dining precinct, a major supermarket, and the future St Leonards Public Library.”</p>
<p>Designed by leading Australian architects PTW, Eighty Eight By JQZ will feature a 30,000 sqm combined commercial and retail space, and will adjoin the future St Leonards open-air civic plaza, which will branch out over the neighbouring railway line.</p>
<p>Mrs Wu said the timing of the sales launch was also important in terms of garnering significant buyer interest.</p>
<p>“We’ve deliberately timed the launch of Stage 1 sales at Eighty Eight By JQZ to coincide with Chinese New Year celebrations, capturing international buyers who are enjoying Sydney’s warmer weather during the Chinese winter.</p>
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jrobinson-rf4aSBido9

Apartment purchasers still very active at new 88, St Leonards development

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<p>Despite a surging population and record high levels of new construction, a lower proportion of housing stock is selling. </p>
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<p>The analysis, paired annual settled sales data with dwelling counts over time to show that the proportion of total housing stock turnover on an annual basis. </p>
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<p>The analysis found that over the 12 months to September 2017, just 5% of the national housing stock transacted; the lowest proportion of stock-turnover since April 2012 when it was at an historic low of 4.9% of stock transacted. Over the nine years of data available, an average of 5.5% of the national housing stock transacts in a given year.</p>
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<p>Across the combined capital cities, a record-low of 4.7 percent housing stock transacted over the past year which was well down on the 5.6% average. Across the combined regional markets, 5.6% of housing stock transacted which was slightly higher than the 5.5% average. In both the capital city and regional housing markets stock turn-over is slowing. </p>
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<p>Housing turnover is impacted by supply and demand factors. From the demand side of things the contributors are the rate of population growth, growth in household incomes, levels of investor demand and accessibility to credit. </p>
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<p>From the supply side the factors include the level of new housing construction and how much stock is actually available for sale at any given time. Other factors include the costs associated with buying and selling properties as well as government policies such as incentives for first home buyers.” </p>
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<p>Across the states and territories, the trends are interesting: </p>
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<p>NSW: In Sydney an historic low 4.7% of housing stock transacted over the past year and in regional NSW the figure was 5.9%. In each region turnover has slowed. </p>
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<p>Vic: Historic low 4.4% of Melbourne housing stock turned-over throughout the past year compared to 4.9% of regional Vic stock. Both of the regions are seeing a fall in turnover.</p>
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<p>Qld: Stock turnover is well above record lows in Brisbane (5.8%) and regional Qld (5.8%). Brisbane turnover is only slightly below average (5.9%) while regional Qld turnover is at average levels. </p>
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<p>SA: Turnover is fairly steady in SA recorded at 5.7% in Adelaide and 5.8% in regional SA. In each region turnover is slightly above long- term average levels. </p>
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<p>WA: After a large fall over recent years, turnover has stabilised at a record low in Perth (3.6%) and has increased slightly from record lows in regional WA (4.2%). </p>
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<p>Tas: In Hobart, 5.9% of housing stock sold last year compared to a long-term average of 5.4% annually and in regional Tas 6.1% of stock sold compared to a long-term average of 5.3% </p>
<p><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/2017/10/26/Tas.jpg" alt=""></p>
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<p>NT: 4.2% of housing stock transacted over the past year in Darwin and 4.7% of stock in regional NT. There has been a significant fall in turnover across the state as dwelling values have fallen.</p>
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<p>Canberra: Over the past year, 4.8% of housing stock sold which is an historic low level. </p>
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<p>The figures are stark given just how little of the Australian housing market actually sells in any given year.</p>
<p>A big driver of the low level of turnover over the past year has been relatively low levels of stock for sale, particularly in our largest capital cities and the high costs associated with stamp duty when buying a property.</p>
<p>The impost of stamp duty discourages turnover as we have recently seen with the removal of stamp duty for first time buyers under certain price thresholds in NSW and Vic.</p>
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<p>Once removed there has been a surge in housing finance commitments by first home buyers.</p>
<p>The final consideration for the low turnover is the high cost of housing in Australia, because the cost is high it is a significant consideration for households as to whether or not to purchase a property. </p>
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ckusher-ujnxiKuFQs

Dwelling construction surges yet housing turnover falls

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<div class="cq-article-content-paras section">
<p>Developer Dyldam launched its South Quarter project – the former Auto Alley – on the weekend.</p>
<p>Some 100 of the 200 apartments sold.</p>
</div>
<div class="cq-article-content-media section">The developer said it was pleased with the results, especially with the high 30 per cent rate of first home buyers and local interest.</div>
<div class="cq-article-content-media section"> </div>
<div class="cq-article-content-media section">The average sale price was $750,000.</div>
<div class="cq-article-content-media section"> </div>
<div class="cq-article-content-media section">The plans for the South Quarter of the Auto Alley, Church Street, were unveiled as a $876 million residential mixed-use project on the former Holden car yard on 57, 63 and 83 Church Street.</div>
<div class="cq-article-content-media section">
<p>It is set to become the 1.4-hectare "South Quarter" precinct, with five residential and commercial buildings as well as an internationally branded hotel.</p>
<p>Dyldam confirmed there would be more than 750 apartments along with 40,000 square metres of retail and commercial space.</p>
<p>The buildings will range between 10 and 42 storeys, set around 450 metres from the Parramatta Rail and Bus Interchange.</p>
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<div class="parsys parsys-article-content-top">
<div class="cq-article-content-media section"><img class="lazy620x0" src="https://www.afr.com/content/dam/images/g/y/7/7/7/x/image.imgtype.afrArticleInline.620x0.png/1504068599574.jpg" alt="Artist impression of South Quarter of a planned development of Auto Alley on 57, 63 and 83 Church Street, Parramatta." width="620" data-src="https://www.afr.com/content/dam/images/g/y/7/7/7/x/image.imgtype.afrArticleInline.620x0.png/1504068599574.jpg"></div>
<div class="cq-article-content-media section"> </div>
<div class="related-quotes section">The plans for the South Quarter of the Auto Alley, Church Street, Parramatta by developer Dyldam have been unveiled.</div>
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<p>It is a $876 million residential mixed-use project on the former Holden car yard on 57, 63 and 83 Church Street.</p>
<p>It is set to become the 1.4-hectare "South Quarter" precinct, with five residential and commercial buildings as well as an internationally branded hotel.</p>
<p>Dyldam confirmed there would be more than 750 apartments along with 40,000 square metres of retail and commercial space.</p>
<p>The buildings will range between 10 and 42 storeys, set around 450 metres from the Parramatta Rail and Bus Interchange.</p>
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<div class="cq-article-content-media section"><img class="lazy620x0" src="https://www.afr.com/content/dam/images/g/y/7/7/7/x/image.imgtype.afrArticleInline.620x0.png/1504068599574.jpg" alt="Artist impression of South Quarter of a planned development of Auto Alley on 57, 63 and 83 Church Street, Parramatta." width="620" data-src="https://www.afr.com/content/dam/images/g/y/7/7/7/x/image.imgtype.afrArticleInline.620x0.png/1504068599574.jpg"></div>
<div class="cq-article-content-media section"> </div>
<div class="related-quotes section">Construction completion for the first residents in South Quarter is 2022, he said.</div>
<div class="cq-article-content-paras section">
<p>Dyldam beat contenders including AV Jennings for the coveted site in 2015 with the City West Joint Regional Planning Panel approving the site masterplan in 2016 with its Allen Jack+Cottier design.</p>
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j.ballantyne1990-6AQqhLzZaK

Dyldam sees the boost in FHB numbers in weekend Parramatta launch

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<p>Apartment developer Gurner has repaid its $180 million loan to ANZ following the settlement of apartments worth nearly $200 million at its FV project in Brisbane.</p>
<p>Gurner said in a media release that it had settled 80 percent of the first 520 apartments of stage one of its 981-apartment, three tower ‘FV’ project. </p>
<p>The settlements come at a time when repeated warnings have been sounded from various quarters, including the RBA, about an apartment oversupply in Brisbane.</p>
<p>The precinct, which is managed by Mantra Group under the high-end Peppers brand, has seen more than 80 apartments leased before settlements, and rental yields in the range 5.2 - 7.5%.</p>
<p>The project’s resort-style facilities such as a sunken pool, gym, private dining areas, VIP spa retreats, expansive sun-deck and concierge services are being cited as a big hit by Gurner.</p>
<p>Tim Gurner, founder of Gurner, said both the project’s settlement success and rental demand had proven the fears of oversupply wrong.</p>
<p>"People have been discussing Brisbane’s property market like it’s the end of the world as we know it," said Gurner.</p>
<p>"However, the fundamentals are strong, and with rental yields high and price points low compared to other major Australian cities, I believe Brisbane’s quality apartment market has only just started to hit its straps. </p>
<p>"The constant reports and negative whispers about Brisbane’s market are way too simplistic and alarmist when the reality is, quality apartments are settling well, they are leasing well, generating good rents and achieving solid resale prices."</p>
<p>But The Australian newspaper has reported more than 100 apartments in the high-profile inner-city Brisbane development are yet to settle.</p>
<p class="selectionShareable">Some 20 per cent of the first tower of property developer Gurner’s 520-unit FV development are yet to settle, it reported.</p>
<p><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/2017/10/13/Gurner-1.jpg" alt=""></p>
<p>Gurner said his marketing was not focussed on foreign buyers, unlike other projects of that scale, with only 110 out of 651 settlements by foreign buyers.  </p>
<p>“We are seeing more foreign buyers settle in cash rather than through bank finance as they seek to navigate the complex lending requirements, so this is not deterring them from settlement,” Gurner said.</p>
<p>“We have been saying for years that any talk of oversupply has been grossly overstated, due to analysts looking at the number of projects granted permits, rather than the number that actually start construction.” </p>
<p> <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/2017/10/13/Gurner-main.jpg" alt=""></p>
<p>ANZ’s head of Institutional Property, Eddie Law, said the bank’s outlook for good quality, owner-occupier apartment projects that are backed by experienced developers in Brisbane remained strong. </p>
<p>“We were delighted to be able to support and assist GURNER realise the creation of a premier residential product in Brisbane, despite the anticipated and known market supply metrics.” </p>
<p>The developer partnered with Singaporean listed company, Thakral across the development.</p>
<p>Gurner went on to say that Brisbane could again see an undersupply problem as a tightening of bank lending, construction price rises and foreign investment changes have almost stalled permitted off-the-plan projects.</p>
<p>“The Brisbane off-the-plan market literally came to a grinding halt about 12-15 months ago and by 2019 there will be virtually no new supply coming to the market and we will be talking about an under supply again,” he said. </p>
<p>“This means not only is there less stock on the market than first suggested, the rental market is incredibly tight and good quality apartments that will rent for between $400 - $700 per week are in very high demand. </p>
<p>The project’s third tower, No.1, is due for completion in mid-2019.</p>
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jonathanchancellor-7SQnKwU6yx

Gurner settles apartments worth $200 million in Brisbane in quick time, downplays oversupply concerns

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<p>Smarta Property, a Double Bay-based developer, has bought the historic 33-unit Workers Dwellings building in harbourside Millers Point for $26 million which it hopes to convert into luxury apartments. </p>
<p>Its plan is to refurbish the property, turning it into luxury dwellings.</p>
<p>The developer bought the three-storey block of 33 apartments from the NSW government as part of its public housing sell-off to fund affordable housing.</p>
<p>The Workers Dwellings were originally built by the Sydney Harbour Trust circa 1910 for wharf labourers, storemen, stevedores and gasworks hands. </p>
<p>The $26 million transaction is the largest so far in the Millers Point sales programme, through which the government has raised $448 million, according to The Australian.</p>
<p>The government selloff is also resulting in the gentrification of Millers Point, with the suburb transforming into an elite club.</p>
<p>Lawyers and real estate executives are making multimillion-dollar purchases of former hous­ing commission terraces and units and turning them into exquisite inner-city mansions.</p>
<p>Smarta Property, run by brothers Luke and Andrew Veron, has a history of refurbishing apartment blocks but this will be its most significant project. </p>
<p>Located between 30 Lower Fort Street and 4 Trinity Avenue, the apartments are being designed to house the professionals working in the nearby Barangaroo precinct.</p>
<p>Smarta plans to restore the homes, bringing them up to an ultra-modern standard and selling them off within 18 months.</p>
<p>Any refurbishments of the historic properties must be in line with the  conservation guidelines endorsed by the NSW Heritage Council.</p>
<p>“We’re going to renovate, strata them, and sell them off individually,” director Luke Veron said.</p>
<p>Of the 33 apartments, 21 are three-bedders while the rest are one-bedroom units.</p>
<p>Following closure of a public tender process, the historic building was sold via negotiations managed by Peter Starr, Lorraine Crawford and Andrew Stewart of McGrath.</p>
<p>The project fits with Smarta’s focus on boutique projects. Recent developments include eight units in waterside Balmain and a 36-unit block in Lilyfield.</p>
<p>The apartments were sold in one line, rather than as four separate lots of units, as the greatest value could be realised by one developer.</p>
<p>With more properties being offered at Millers Point, more Barangaroo executives are tipped to chase the remaining real estate in the harbourside enclave.</p>
<p>“It’s going to be beautiful,” Starr said, citing London’s exclusive Knightsbridge and Kensington districts as points of comparison.</p>
<p>“This is the oldest suburb in Australia — but it hasn’t been in private ownership since around 1900,” he said.</p>
<p>The latest batch of properties will be auctioned on October 11.</p>
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Veron brothers' Smarta Property revealed as buyer of historic Workers Dwellings at Millers Point 

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<p>Malaysian developer SP Setia has sold 80 per cent of the apartments in its luxury twin-tower Melbourne project on Exhibition Street, contrary to concerns of a slowing in the apartment market.</p>
<p>The developer paid a record $101 million for the former Telstra Exchange site at 308 Exhibition Street in 2016.</p>
<p>SP Setia’s mixed-use development project, which will also feature a five-star hotel, is estimated at $640 million.</p>
<p>The developer did not say how many of the roughly 280 apartments in Sapphire By The Gardens sold so far were to overseas buyers, but according to The Australian Financial Review, foreigners made up a high proportion of buyers.</p>
<p>Recent reports from Chinese-based real estate agents suggested a sharp fall in interest from offshore buyers for Australian apartments due to restrictions on capital outflows imposed by Beijing, new stamp duty surcharges and a tighter lending market in Australia.</p>
<p>Jon Ellis, who runs off-the-plan marketplace Investorist, recently said demand was down 40 per cent, but that developers of quality projects were still making sales in Asia.</p>
<p>Last year, the developer also bought an 850 sqm development site in Melbourne’s Prahran.</p>
<p>"Quality high-rise developments in Victoria, like Sapphire By The Gardens, will continue to attract a healthy mix of offshore, interstate and local interest" said Tim Storey of Colliers International Residential, the lead selling agent on the project.</p>
<p>The project has a residential tower with 345 apartments and a second tower that will be house a five-star hotel Shangri-La hotel with about 500 rooms. Overlooking Carlton Gardens, the project is expected to be complete by 2021.</p>
<p>The project includes a $29 million penthouse with the remaining apartments priced from $1.085 million, to just under $1.9 million.</p>
<p>The developer is holding events to launch the sale of the remaining 20 per cent apartments in the coming weeks in Sydney and Melbourne.</p>
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Malaysian developer SP Setia says 80 percent units sold in luxury Melbourne tower

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<p>A one bedroom West Footscray apartment has sold for $208,000 making it Melbourne’s cheapest weekend auction sale.</p>
<p>Located at <a href="https://www.realestate.com.au/property-apartment-vic-west+footscray-126187274" target="_blank">20/697 Barkly Street</a>, the property is marketed for a first home buyer or investor.</p>
<p>It features a living area that leads a a kitchen/meals area.</p>
<p>The bedrooms has its own built-in robe.</p>
<p>Other feature includes a car space.</p>
<p>Public transport, Barkly Street Village and Central West Plaza are close to the property.</p>
<p>The property was offered through Century 21 agent Yogi Flis.</p>
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One bedroom West Footscray apartment sold for $208,000

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<p>James Packer is looking overseas to sell apartments in his ­luxury residential tower in Sydney’s Barangaroo at a time when the property market in the Harbour city has shown signs of slowing.</p>
<p>The 81 exclusive apartments are expected to hit the market soon via an expressions-of-interest targeted marketing campaign, followed by a formal launch.</p>
<p>And the target are the wealthy in global cities. </p>
<p>“Buyers in the gateway cities of the world will be targeted including­ London, New York, United Arab Emirates, Singapore, Southeast Asia, Hong Kong, Shanghai and Beijing,” Crown executive vice-president Todd Nisbet was cited as saying by The Australian.</p>
<p>Crown’s marketing push comes as Sydney home values were steady over the month and edged up just 0.3 per cent over the quarter, rising 13 per cent over the past year.</p>
<p>Melbourne values rose 0.5 per cent in August, 1.9 per cent over the quarter and 12.7 per cent over the year.</p>
<p>The apartments are being marketed by real estate agent Knight Frank and its London figurehead, Lord Andrew Hay. </p>
<p>Nisbet said he expected the 81 “sky homes” in the Crown residential tower also to appeal to the domestic Australian ­market. </p>
<p>“This isn’t the kind of project focused on the Chinese investors,” he said, clearly implying that the apartments are not being targeted towards Chinese buyers.  </p>
<p>“Investors are not the type of buyer that it is going to resonate with. We are targeting specific demographics and we will not disclose pricing at this time.’’</p>
<p>Though the pricing is being kept under wraps, there’s speculation that the penthouse atop the Barangaroo tower, to be branded Crown Sydney, One Barangaroo, could come with a price tag as high as $100 million.</p>
<p>Last year, Packer's Crown Resorts secured approval for his $2 billion Sydney casino at Barangaroo.</p>
<p> </p>
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James Packer looks to market luxury ‘sky homes’ in Barangaroo to foreigners

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<p>Iris Capital only sold 17 of 39 apartments at its new $70 million development Grand Bondi Junction in Sydney's east.</p>
<p><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/2017/08/21/700_iris3.jpg" alt="" style="font-size: 12.16px;"></p>
<p>The most popular apartments sold were two-bedroom units.</p>
<p><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/2017/08/21/700_iris6.jpg" alt=""></p>
<p>The highest priced apartment was $2.5 million.</p>
<p><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/2017/08/21/700_iris4.jpg" alt=""></p>
<p>Iris Capital launched their $70 million residential development claiming "impressive market demand" - although it continued the recent downturn in the initial Saturday sales tally to around 50 percent rather than the 100 percent sellouts in the off the plan sales heyday.</p>
<p><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/2017/08/21/700_iris5.jpg" alt=""></p>
<p>The development attracted strong interest from local owner occupiers purchasers from around the Eastern Suburbs area, CBRE agent Ben Stewart noted, adding Grand was destined to become a timeless residence in Bondi Junction.</p>
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Not so grand sales result for Iris Capital at Bondi Junction

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<p>A class action seeks to claim up to $100 million over allegations that GST was charged wrongfully on the sale of apartments in the ACT.  </p>
<p>International litigation funder IMF Bentham, which is working with Corrs Chambers Westgarth, announced the law suit to the ASX on Tuesday.</p>
<p>It has lodged a statement of claim with the Federal Court in NSW alleging Belconnen Lakeview, a company in the Hindmarsh Group, charged and collected GST on the sale of 352 units in Altitude Apartments when no GST was payable, The Australian Financial Review reported.</p>
<p>IMF Bentham has also identified 25 residential developments sold by various developers in the ACT that may fit the same criteria.</p>
<p>"Over 3000 unit owners in the ACT across a range of developments have already sent us their contracts, and in many cases it seems the purchaser was wrongly charged GST," IMF Bentham Sydney investment manager Oliver Gayner was quoted as saying by the AFR.</p>
<p>"We have given Belconnen Lakeview every opportunity to explain the conduct alleged in the statement of claim, and in the absence of any satisfactory explanation we have now determined to put the matter before the Federal Court to decide."</p>
<p>Assuming an average unit price of $450,000 and an average GST claim of around $40,000, as much as $100 million might be outstanding. </p>
<p>The statement of claim says Belconnen Lakeview used its accountant to obtain an ATO private ruling which switched the tax status from 'taxable' to 'input taxed' shortly before sales commenced. But the company did not inform its customers, who continued to be charged GST, according to the claim.</p>
<p>Hindmarsh Group in the ACT did not comment.</p>
<p>The federal government is also worried that some developers have not remitted GST on new apartments. </p>
<p>This year’s federal budget laid out that as of mid-2018, GST on new homes will be collected directly from home-buyers and not from developers. </p>
<p>The new remittance arrangement is expected to add $650 million in GST revenue over four years.</p>
<p> </p>
<p> </p>
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