Brisbane-based developer <a href="https://www.apartments.com.au/developers/red-co">Red &amp; Co</a> has made a striking debut on the Gold Coast, officially unveiling its $250 million COMO development in Varsity Lakes, a lifestyle-driven residential project anchored by an extensive rooftop wellness and activity precinct.

Having recently launched to market, construction has already been fast-tracked by <a href="https://www.apartments.com.au/builders/5point-projects">5Point Projects</a>, ensuring momentum continues on what is set to become a landmark residential address for the growing Varsity Lakes community.

Located at 22 Lake Street, Varsity Lakes, <a href="https://www.apartments.com.au/new-apartments/como-varsity-lakes-22-lake-street-varsity-lakes-qld-4227">COMO</a> will comprise 156 apartments across 16 levels, comprising one-, two- and three-bedroom residences designed for modern living. However, it is the project’s rooftop amenity offering that sets COMO apart.

[smartcode_project:default project_id=135546 project_image_fid=363510]

Designed as a dedicated wellness and recreation hub, the rooftop will feature a 25-metre lap pool, fully equipped gymnasium, and multiple pickleball and paddleball courts - amenities rarely seen in boutique apartment projects.

Residents will also have access to a sauna and plunge baths, while landscaped gardens and relaxation zones will provide tranquil spaces overlooking sweeping panoramic views across the Gold Coast skyline.

The rooftop precinct has been designed to function as the social and wellness heart of the development, encouraging residents to embrace an active, balanced lifestyle within their own building.

&nbsp;

[smartcode_project:default project_id=135546 project_image_fid=363512]

Red &amp; Co director David Laverty said the amenity offering was central to the project’s design from the outset.

“Amenities were at the forefront of our decisions,” Laverty said.

“Buyers today are looking for more than just an apartment - they want a lifestyle that promotes health, connection and balance.

“The rooftop at COMO has been designed to be the epicentre of that lifestyle, with a suite of wellness and recreation facilities that are quite unique for a boutique development of this scale.”

&nbsp;

[smartcode_project:default project_id=135546 project_image_fid=363514]

Designed by <a href="https://www.apartments.com.au/architects/bda-architecture">BDA Architecture</a>, the residences prioritise liveability, featuring spacious layouts, 2.7-metre ceilings and high-quality finishes throughout.

The development sits beside Bond University, placing residents within walking distance of education, retail and dining options within the vibrant Varsity Lakes precinct, including Robina Town Centre, Varsity Lakes Train Station and a range of leading schools.

[smartcode_project:default project_id=135546 project_image_fid=363511]

Laverty said the location was a key driver behind Red &amp; Co’s decision to bring the project to the Gold Coast.

“<a href="https://www.apartments.com.au/developments/varsity-lakes-qld-4227">Varsity Lakes</a> was a clear choice for us to invest in as it’s a lifestyle hub that seamlessly blends lakeside living with urbanity,” he said.&nbsp;

“Como will capitalize on this great location, delivering a project that not only creates premium homes, but a lifestyle defined by community, wellbeing, and connectivity.”

Red &amp; Co has delivered more than 500 apartments and townhouses across 26 projects in Brisbane in recent years, with COMO marking the company’s first major Gold Coast development.

[smartcode_project_cta:default project_id=135546]

Joel Robinson

Red & Co unveils amenity-rich Como development in Varsity Lakes

Gold Coast developer&nbsp;<a href="https://www.apartments.com.au/developers/big-projects">Big Projects</a> has secured approval for its second Mermaid Beach project.

The developer, currently selling <a href="https://www.apartments.com.au/new-apartments/the-frederick-mermaid-beach-2265-gold-coast-highway-mermaid-beach-qld-4218">The Frederick in Nobby Beach</a>, has secured approval for its next project just 1.5 kilomnetres up the road.

The new development, dubbed&nbsp;<a href="https://www.apartments.com.au/new-apartments/glenelg-residences-2462-2472-gold-coast-highway-mermaid-beach-qld-4218">Glenelg Residences</a>, has been designed by BDA Architecture and&nbsp;will have just under 100 apartments across an 11-storey building&nbsp;at 2462–2472 Gold Coast Highway, on the corner of Glenelg Avenue just under 300m from the future Mermaid Beach Light Rail stop.

The apartments, a mix of two- and three-bedrooms, will sit above a retail-focused ground plane and under extensive rooftop resident amenities.

<img alt="Exclusive: Big Projects plot Mermaid Beach apartment development, Glenelg Residences" 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/Screen%20Shot%202024-06-11%20at%209.55.04%20am.png?VersionId=z6NV4izeuvhBSSVlY6vK6TPO1LxrFeaG" />

BDA said in its planning submission that the project is intended to support the area’s transition toward higher-density, mixed-use living. “This project offers the opportunity to generate appropriate higher-intensity development within the future Light Rail corridor of <a href="https://www.apartments.com.au/developments/mermaid-beach-qld-4218">Mermaid Beach</a>,” the submission noted.

At ground level, Glenelg Residences will include eight retail tenancies designed to activate the street frontage, complemented by a basement bar offering an additional hospitality element. Above, residents will have access to a rooftop amenity deck featuring an infinity pool, hot and cold plunge spas, day beds, and barbecue facilities.

The architectural approach adopts a restrained material palette of brick, textured concrete, and integrated landscaping, with cantilevered concrete frames and cascading planting intended to soften the built form. BDA described the design as aiming to create “a memorable sculptural mid-rise mixed-use building” that responds to both its coastal setting and urban context.

<img alt="Exclusive: Big Projects plot Mermaid Beach apartment development, Glenelg Residences" 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/Screen%20Shot%202024-06-11%20at%209.55.45%20am.png?VersionId=cpjIVBqcT_sujmo2UMWkVyLcQ7WGJHaQ" />

The approval comes as the City of Gold Coast continues to plan for significant population growth, with regional targets requiring more than 100,000 new high-density dwellings by 2046.

<section data-scroll-anchor="false" data-testid="conversation-turn-36" data-turn="assistant" data-turn-id="request-WEB:55d7c6ac-8e6d-4881-ad49-0ed9bf66d1cc-17" dir="auto">
Big Projects, led by Matthew and John Barrett, is part of a growing cohort of developers that deliver construction in-house, providing a high level of confidence to prospective purchasers.
</section>

[smartcode_project_cta:default project_id=150260]

Big Projects secures approval for Glenelg Residences in Mermaid Beach

Sherpa Group is ramping up its investment in the southern Gold Coast by lodging a development application for <a href="https://www.apartments.com.au/new-apartments/flourish-viver-87-griffith-street-coolangatta-qld-4225">Flourish Viveré</a>, a new $350 million project in Coolangatta.

The move comes after the group’s $27 million acquisition of the 2,029 sqm site on the corner of Griffith and Warner Street, last year.

They will develop 194 apartments across a 26-storey tower, which will become Sherpa’s largest project to date.

Viveré will be the next chapter in the Flourish story, following closely behind Amargo, Oasis, and the Avenues in Palm Beach, as well as Symphony in Brisbane, all designed to deliver affordable housing in lifestyle-rich locations, giving locals a real chance to secure a residence close to the beachfront.

The HAL Architect-designed project will offer a diverse range of residences, from one-, two, and three- bedroom apartments to the premium Canopy range to luxury penthouses.

<img alt="Vivere" data-entity-type="file" data-entity-uuid="c85f5a7e-a22f-4745-8def-400adb3c0b35" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-04-15%20at%209.53.43%E2%80%AFAM.png?VersionId=OY.chur3BPExn1exQ2q8clHqWnW_CaBi" />

“The Gold Coast is undergoing a period of immense growth, with more people drawn to the incredible 
lifestyle that’s available, leading to strong growth in property prices,” said Christie Leet, founder of Sherpa 
Group.

“Our goal at Sherpa is to ensure locals are not priced out of the market in prime locations, which is why we 
created the Flourish collection.

“Flourish Vivere will form the next chapter in our portfolio, and we are so excited to be lodging the DA, marking our first project in Coolangatta.”

A signature of the Flourish developments is the communal rooftop. Flourish Vivere will showcase a private resident’s lounge, outdoor dining with barbecues and pizza ovens, heated pool, fully-equipped gym, and a wellness centre with sauna and steam room.

<img alt="Vivere" data-entity-type="file" data-entity-uuid="c09372cc-aae6-4458-af2e-f291bd19a5e5" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-04-15%20at%209.53.49%E2%80%AFAM.png?VersionId=Sc_RLXl5jiff.tnadogXjQJ_WIpDjf3p" />

The project is strategically located to offer a walkable lifestyle, with the Strand shopping centre, cafes, restaurants, shops and the beach, all just a short stroll away.

“We have meticulously planned Vivere to build on the Flourish legacy, creating a truly special project,”&nbsp;Leet added.

“Wellness, lifestyle and community are at the forefront of every decision we make, and that has not 
changed for Vivere.”

With the DA now lodged with the Gold Coast City Council, Sherpa has moved quickly to secure LPS Group as the builder, offering buyers a level of certainty that is rarely seen in today’s market.

Sherpa has delivered 16 residential projects over the past seven years with a pipeline of $1 billion, with more under construction.

Sherpa takes Flourish brand to Coolangatta, lays plans for Flourish Vivere 

S&amp;S Projects is boosting its investment at Rainbow Bay to more than $1 billion after the prolific Gold Coast developer acquired a new site for $20.25 million and immediately laid plans for a new luxury apartment project in the sought-after precinct.

The site, which is the company’s fifth acquisition at Rainbow Bay in the past four years, will be home to the company’s largest project to date after delivering 3 sold-out projects and construction progresses on Radia worth a combined $215m. 
S&amp;S Projects is currently finalising plans for its latest strategic acquisition, a 1,518 sqm site located 209-213 Boundary Street in Coolangatta, with a development application expected to be lodged within weeks.

The luxury residential development will build on the company’s highly successful projects at Rainbow Bay, comprising Flow, Awaken, Esprit and Radia, with Radia currently under construction by Hutchinson Builders.

“We have been unflinching in our commitment to Rainbow Bay and the transformation we have helped drive in this incredible part of the Gold Coast, which is among the city’s most desirable residential locations,” said S&amp;S Projects founder and director Paul Gedoun.

“Our fifth project will reflect the best of what we have done so far to create a lifestyle precinct that is second to none.”

The latest development, which has yet to be named, is proposed to accommodate 88 luxury apartments in a design that will immerse residents in a unique wellness lifestyle that expands on the legacy of S&amp;S Project’s earlier developments at Rainbow Bay.

The development will feature an expansive rooftop garden and wellness centre with a resort- style pool, among a host of lifestyle amenities planned for residents.

“Rainbow Bay, with its beautiful, protected beach and alongside one of the world’s best surf breaks at Snapper Rocks, is the natural wellness heartland of the Gold Coast,” said Gedoun.

“We are taking every advantage to create a truly unique rooftop wellness experience with a natural feel for residents, offering stone features throughout and an underlying theme that emulates a botanical garden.”

The latest acquisition comes as S&amp;S Projects is at the completion of Esprit and construction continues on Radia, which are part of their significant portfolio undertaken by the company at Rainbow Bay since 2022.

The $215 million Radia, which comprises 38 apartments, is currently the flagship development by S&amp;S Projects at Rainbow Bay which is expected to be completed in 2027.

Jayde Pezet, of Pezet Matheson, which has managed sales and marketing for S&amp;S Projects across their Gold Coast portfolio, emphasised the developer’s commitment to continuous improvement and excellence.

“S&amp;S Projects continue to elevate the benchmark of luxury with each development," Pezet said.

“We have worked with S&amp;amp;S on their 4 other projects in Rainbow Bay and their approach reflects a team that is constantly learning, refining, and pushing the standard higher.

“Their hyper-local knowledge and deep expertise within the luxury property sector are what truly set them apart, allowing them to deliver projects that feel both globally sophisticated and authentically connected to their coastal environment”

S&amp;S Projects plans to officially launch its latest project at Rainbow Bay in the second half of this year.

“As we embark on our largest project yet, we have pulled out all stops to create another landmark development that truly reflects the relaxed southern Gold Coast lifestyle,” Gedoun added.

S&S buys $20m Rainbow Bay site for fifth beachside apartment project

Japandi, an emerging design trend that combines Scandinavian functionality with Japanese rustic minimalism, remains relatively untested in Australia’s residential development market.

As developers look to differentiate their projects and offer something distinct to buyers, Brisbane-based developer Lantona has embraced the hybrid style for its recently launched Toowong apartment project, <a href="https://www.apartments.com.au/new-apartments/koya-residences-6-josling-street-toowong-qld-4066">Koya Residences</a>, with early response to the design proving positive.

Lantona entrusted Red Door Architecture and interiors practice Luma Design Co with delivering the Japandi brief. The approach blends Japanese minimalism with Scandinavian functionality, emphasising warm, restrained interiors, natural materials and clean lines. Drawing on the Japanese concept of wabi-sabi (beauty in imperfection) and the Scandinavian principle of hygge (comfort and cosiness), it creates serene, uncluttered and sustainable living environments.

These design principles are expressed throughout the Josling Street development, both in its exterior form and across the 40 one-, two- and three-bedroom residences within.

[smartcode_project:default project_id=150787 project_image_fid=366229]

Koya reflects a deliberately scaled approach, with the five-storey form designed to align with the surrounding residential streetscape rather than dominate it.

“Koya is conceived as a building that sits comfortably within its surroundings. Every decision, from material selection to spatial planning, has been guided by long-term liveability and enduring relevance,” the developer said.

[smartcode_project:default project_id=150787 project_image_fid=366243]

Positioned within an established inner-west neighbourhood, the development sits near riverfront parklands and the Bicentennial Bikeway, while remaining within walking distance of Toowong Village and multiple public transport options connecting to the CBD, St Lucia and West End.

Lantona said the location was central to the project’s conception, pointing to Toowong’s balance of green space, transport access and proximity to major education institutions.

“<a href="https://www.apartments.com.au/developments/toowong-qld-4066">Toowong</a> combines river access, walkability, immediate CBD connection and a strong educational presence. That balance made it the obvious setting for Koya.”

[smartcode_project:default project_id=150787 project_image_fid=366230]

Communal amenity is concentrated on the rooftop, where a shared retreat will include a pool, dining areas and outdoor spaces oriented towards neighbourhood and city views. The design allows for both private use and small gatherings, extending the living environment beyond individual apartments.

Koya enters the market at a time when smaller-scale developments are becoming less common in established suburbs, with many recent projects in the suburb shooting for the sky.

In a nod of confidence,&nbsp;<a href="https://www.apartments.com.au/builders/brisbane-builders">Brisbane Builders</a>&nbsp;has already commenced construction on the building, which is slated for completion in early 2027. Keenan &amp; Byrne is marketing Koya.

[smartcode_project_cta:default project_id=150787]

Japandi-inspired Koya Residences launch in Toowong

Ascot Vale

<html><body>
Sydney and Melbourne’s auction results maintained their holding pattern at the weekend.
Sydney recorded a preliminary clearance rate of 65.9 per cent on Saturday, after 470 auctions and 310 reported results. There were 69 properties withdrawn from auction.
Melbourne's preliminary clearance rate was 62.2 per cent after 373 auctions and 235 reported results. There were 40 homes withdrawn from auction – including properties that had been listed in the renewed coronavirus hot spots.
<img src="https://www.urban.com.au/images/2020/7/6/CL%20JULY%207.JPG" alt="">
But the historic Ascot Vale home, Bolinda sold posted auction for $3.1 million.
It was Melbourne's top weekend result, pushing a $2,275,000 Brighton East sale into second place.
Bolinda had been listed initially with expectations between $3.7 million and $3.95 million in April.
But this expectation was reduced in May to $3.3 million to $3.5 million.
The historic Ascot Vale manor has had just three owners since it was built 136 years ago.
The four-bedroom home at <a href="https://www.realestate.com.au/property-house-vic-ascot+vale-133328186" target="_blank">43 Kent Street</a> last traded 57 years ago.
The Italian Renaissance style house is in need of some renovation.
It was owned for nearly six decades after being built for the McClelland family in 1884.
The family set up an artists’ group and later built the McClelland Sculpture Park and Gallery in Langwarrin.
Sydney's top sale was $4.63 million in Mosman. Six of the 14 registered parties bid for the four-bedroom house at 12 Windward Avenue that was for sale for the first time in six decades. 
<div class="page" title="Page 1">
<div class="section">
<div class="layoutArea">
<div class="column">
CoreLogic reported volumes were down week on week across the combined capital cities, with a total of 1,185 homes scheduled for auction. 
The lower activity which we have historically noted over school holiday periods, returned a preliminary clearance rate of 65 percent. 
This was higher than last week preliminary figure of 64.5% across a higher 1,485 auctions, which later revised down to 60.6% at final collection. 
Looking at results from the first week of July last year, a lower 953 homes were taken to auction with a success rate of 64% according to final figures.
Across Australia’s two largest auction markets, the lower activity across both cities saw the clearance rate improve.
</div>
<div class="column">
Across the smaller cities, Canberra continues to outperform in terms of success rate across the capital city markets with an 81.6% preliminary clearance rate this week. 
However this was down slightly on the final clearance rate last week with 84.4% of homes successful at auction across Canberra. 
Perth, where only a small proportion of properties are auctioned, continues to return one of the lowest clearance rates across the capital cities with only 22% of auctions clearing this week.
Ray White Group booked a preliminary clearance rate of 61 per cent on a week when the leading auction house had a reported auction market share of 31 per cent.
The average registered bidder number sat at four.
</div>
</div>
</div>
</div>
</body></html>

j.ballantyne1990-6AQqhLzZaK

$3.1 million weekend sale in lockdown suburb Ascot Vale

<html><body>
Bolinda at Ascot Vale, which has a long history in the arts, had been listed with expectations between $3.7 million and $3.95 million.
It is now seeking just $3.3 million - $3.5 million as their original price hopes were reduced.
The historic Ascot Vale manor has had just three owners since it was built 136 years ago.
The four-bedroom home at <a href="https://www.realestate.com.au/property-house-vic-ascot+vale-133328186" target="_blank">43 Kent Street</a> last traded 57 years ago.
The Italian Renaissance style house is in need of some renovation.
It was owned for nearly six decades after being built for the McClelland family in 1884.
The family set up an artists’ group and later built the McClelland Sculpture Park and Gallery in Langwarrin.
</body></html>

Bolinda, Ascot Vale listing reduced from $3.95 million hopes

<html><body>
A ground floor retail investment in Ascot Vale, Victoria has been sold for $935,000 to a local investor. 
The 131 square metre property at 202 Union Road, Ascot Vale has been leased to Flemington Financial Services Ltd T/A Bendigo Bank.
It returns $45,395 per annum plus GST on a four plus four year lease term, equating to a yield of 4.86% and building rate of $7,137 per square metre.
The property features an open plan reception/office layout, two partitioned offices, ducted heating and cooling, staff amenities and kitchenette.
It was sold by Craig McKellar of CVA.
It has 6 metre frontage to Union Road and rear access via The Parade.
Union Road is located under 5 kilometres from Melbourne CBD and is supported by an array of retail shops, cafes, restaurants and offices and is serviced by tram.
</body></html>

Ascot Vale ground floor retail investment sold for $935,000 

<html><body>
A local builder has spent $2.7 million in a post-auction deal on a rundown 1890s Ascot Vale stable complex.
Goodwood, at<a href="https://www.realestate.com.au/sold/property-house-vic-ascot+vale-127856114" target="_blank"> 42 Myross Avenue</a>, was once home to late harness-racing trainer and driver William “Bill” Davin for 60 years.
The property was quoted at $2.5 million to $3 million price guidance.
It sold to John Paul Kavanagh, and his wife Erin, who were reportedly the only ones to raise their hands at the auction of the 1336 square metre block on Whiskey Hill.
It comprised an original heritage-listed home and nine stables.
<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/2018/4/18/ascot%20vale%202.jpg" alt="">
The delipidated home overlooks large lawns and nine stables.
A string of harness-racing champions were housed in the stables, including eight Hunter Cup winners and three-time winner of “the Melbourne Cup of harness-racing”, the Inter Dominion, Our Sir Vancelot.
<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/2018/4/18/ascot%20vale%203.jpg" alt="">
Nelson Alexander Ascot Vale’s Michael Keogh secured the sale.<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/2018/4/18/ascot%20vale%204.jpg" alt="">
</body></html>

Bill Davin's rundown 1890s Ascot Vale stable complex sold

<html><body>
A local developer has snapped up a development site for $3.33 million in Melbourne's Ascot Vale in a private sale through Savills Australia. 
The <a href="https://www.realestate.com.au/property-residential+land-vic-ascot+vale-201784898" target="_blank">147-149 The Parade</a> property sold at a robust land area rate of $2,060 a sqm. 
The 1617 sqm property, zoned General Residential 1, is close to shops and public transport.
Improvements include a single level, residential duplex.
The sale was negotiated by Savills’ Julian Heatherich, Jesse Radisich and Benson Zhou.
Heatherich said the location had easy access to Melbourne CBD and with its three street frontages was very attractive to developers.
"This is an ideal site for both townhouse or apartment development and that was acknowledged by the very high level of enquiry from developers looking to capitalize on the demand from both investors and owner-occupiers," Heatherich said.
The vendor was a local investor.
</body></html>

Developer snaps up Ascot Vale site in Melbourne for $3.33 million through Savills

<html><body>
A fully restored 19th century, six bedroom property in the Melbourne suburb of Ascot Vale listed for auction with a price guide between $2.1 million-$2.3 million, now has a $2.55 million asking price.
The 1012 sqm late Victorian-era residence at <a href="https://www.domain.com.au/75-maribyrnong-road-ascot-vale-vic-3032-2013523824" target="_blank">75 Maribyrnong Road</a> was originally built in 1887.
It was last traded back in 2010 for $2.1 million.
Ascot Vale is an inner-city suburb located 5 km north-west of Melbourne’s CBD. The home sits upon Rothwell Hill, within walking distance to the station and trams, as well as the Puckle St precinct and Union Road cafes.
The area’s median house price rose above $1 million in May this year. 
Architecturally designed, this property combines Italianate heritage and contemporary restoration. It offers three bathrooms, formal lounge, library, wine cellar and a basement garage with a gym.
Family living areas include a renovated kitchen with all-European appliances, stone surfaces and timber cabinetry. Bi-fold doors open up to an alfresco deck, highlighting the landscaped gardens.
Upstairs contains three bedrooms and a luxury bathroom that is enveloped by a balcony with views to the northwest.
A five bedroom residence at <a href="https://www.realestate.com.au/sold/property-house-vic-ascot+vale-125174282" target="_blank">8 Anderson Street</a> sold for $2.1 in May 2017.
The home is listed by Jellis Craig selling agent Simon Mason.
</body></html>

Victorian era residence listed in Ascot Vale

<html><body><div class="page" title="Page 1">
<div class="layoutArea">
<div class="column">
A heritage-listed city fringe building in Melbourne's Ascot Vale built in 1880 has been sold for $1.8 million.
The commercial property, 403-405 Mt Alexander Rd, Ascot Vale, on the corner of Mt Alexander Road and Bank Street was built for the English Scottish and Australian Chartered Bank and designed by architects Terry and Oakden.
It is one of only ten Gothic style banks in Victoria.
The building has nine main rooms and a period-style bathroom with claw bath, hydronic heating in each room and a paved backyard which can accommodate parking for up to 4 vehicles.
Anthony Carbone of CVA said the sale represents a substantial building rate of $6,315.79 per square metre.
</div>
</div>
</div></body></html>

jonathanchancellor-7SQnKwU6yx

Heritage-listed Gothic corner building sold

<html><body>
Pockets of two Melbourne suburbs, Thornbury and Ascot Vale have been pinpointed by Wakelin Property Advisory as having long-term investment potential. 
An “undervalued precinct” is typically a section of a suburb where there were certain attributes that meant there was more potential for growth, Jarrod McCabe, of Wakelin Property Advisory, said. 
The pockets should have all the characteristics underpinning demand and growth, not just one attraction such as relative affordability compared with the neighbouring suburb, he said.
A case in point is Ascot Vale, which has good access to the city by trains, trams and roads.
“Union Road has a really good village atmosphere; it’s really gentrified noticeably over the last five to 10 years, and has got a real variety of shops, cafes and restaurants,” Mr McCabe said.
“Proximity to Union Road and the train station are very important, so the Rothwell Hill section … is highly desirable; particularly towards the northern-end to Maribyrnong Road.”
There were also some very good pockets just west of Union Road, but buyers wouldn’t want to go too far west because it was further away from public transport and cafes, he added. 
Parts of Thornbury where the house median is still in the mid-$900,000s, compared with Northcote’s $1.05 million median could be worth a look by investors, especially areas close to the High Street village and train line near St Georges Road. There were opportunities towards Merri Creek, but be cautious of industrial areas, he suggested.
In comparison to undervalued precincts, Mr McCabe compared ”hot spots” to the property investment equivalent of “the latest fad diet” seen on the cover of women’s magazines. 
He said a hot spot was typically an entire suburb experiencing short-term price growth, and had only a few characteristics for consistent strong performance. 
“What will happen is you’ll get growth in the short term, while whatever new infrastructure or industry is being put into the area,” he said. “But once that becomes the norm, most likely the capital growth will revert back to its previous performance rather than continuing to be a high performer," Mr McCabe said.
</body></html>

Ascot Vale

Editor's Picks

Have something to contribute?

Developments

New apartments

New townhouses

News

Ascot Vale

Editor's Picks

Receive the latest news stories to your inbox

Have something to contribute?

Developments

New apartments

New townhouses

News