<a href="https://www.apartments.com.au/new-apartments/smith-by-valli-collingwood-224-228-smith-street-collingwood-vic-3066">Smith Collingwood</a> is a new boutique apartment development bringing a refined, design-led approach to one of Melbourne’s most established inner-city neighbourhoods.

Designed by <a href="https://www.apartments.com.au/architects/pandolfini-architects">Pandolfini Architects</a> with interiors by <a href="https://www.apartments.com.au/interior-designers/lisa-buxton-interiors">Lisa Buxton</a>, Smith by Valli sits on iconic Smith Street and comprises just 22 residences tailored toward owner-occupiers seeking a more considered style of apartment living.

[smartcode_project:default project_id=140747 project_image_fid=367540]

The design of Smith focuses on a north-facing orientation across all residences, a relatively uncommon feature in dense inner-Melbourne settings. Each apartment has been planned to maximise natural light and outlook, alongside a material palette defined by warm tones, custom joinery, and a full suite of Gaggenau appliances.

The development comprises a mix of one, two, and three-bedroom apartments, with pricing currently ranging from just under $1 million to around $4.85 million for the premium penthouse-level residences, reflecting growing demand for luxury owner-occupier product in Melbourne’s inner urban market.

Residents will also have access to a private rooftop garden designed as an elevated retreat above the city, &nbsp;featuring curated landscaping, veggie boxes, intimate seating areas and spaces for relaxed gatherings. Sustainability has also been integrated into the project through a 7-star energy rating and two secure bicycle facilities for every residence.

[smartcode_project:default project_id=140747 project_image_fid=367529]

Smith by Valli sits in the heart of one of Melbourne’s most established retail and hospitality strips, within walking distance of venues such as Falco Bakery, Carnation Canteen and Alimentari, alongside parks and everyday services. With a Walk Score of 99, the location reinforces the project’s positioning toward buyers prioritising walkability and access over car dependency.

With only a limited number of residences, Smith reflects growing demand for smaller, highly curated apartment developments that prioritise design quality, liveability, and connection to neighbourhood character.

[smartcode_project_cta:default project_id=140747]

Joel Robinson

Smith by Valli delivers a refined collection of luxury residences to Melbourne’s inner north

<a href="https://www.urban.com.au/developers/far-east-consortium">Far East Consortium</a>’s 640 Bourke Street stands as a testament to&nbsp;<a href="https://www.urban.com.au/developments/melbourne-vic-3000">Melbourne</a>’s ability to bridge its storied past with a bold vision for the future.&nbsp;

Rising above the heritage-listed Eliza Tinsley building, the development reflects a broader shift toward adaptive reuse in the city, where historical assets are retained and reinterpreted as part of new residential development.

Designed by <a href="https://www.urban.com.au/architects/rothelowman">Rothelowman</a>, <a href="https://www.apartments.com.au/new-apartments/640-bourke-street-melbourne-640-bourke-street-melbourne-vic-3000">640 Bourke Street</a> incorporates the Eliza Tinsley building as its foundation, housing a grand gallery and lobby space that serve as both a functional and symbolic centrepiece. The heritage façade informs the tower’s design, creating a connection between Melbourne’s past and its contemporary skyline.

"It's a significant asset and wants to be celebrated and experienced by all residents every single time they go in and out of the building," Rothelowman Principal Stuart Marsland said.

[smartcode_project:default project_id=509 project_image_fid=365684]

Above this historic base, the 68-storey tower will deliver just over 600 residences, a notable reduction from earlier schemes, reflecting a deliberate move toward larger-format apartments and a stronger owner-occupier focus.

Unlike traditional CBD developments that prioritised investor stock, 640 Bourke Street has been repositioned to respond to changing buyer expectations.

"The discussion was all around making 640 Bourke Street the best residence to live in, to be much more focused on the people in the building rather than people looking at the building," Marsland explained.&nbsp;

This shift is evident in the development’s interiors, which emphasise practical luxury with spacious layouts, high ceilings, and floor-to-ceiling windows framing sweeping views of Melbourne and Port Phillip Bay.&nbsp;

“What it's meant for 640 Bourke is we've actually reduced the number of apartments. We've increased the overall size of the apartments. We don't have any studios in here, and what that does for a project is it elevates it," Lauren Sheldon, Far East Consortium’s Director of Sales and Marketing, said.&nbsp;

[smartcode_project:default project_id=509 project_image_fid=365687]

Rothelowman Associate Jun Chang added, "We were given the opportunity to be more generous. The apartments became bigger and squarer than any other apartments which had been designed in the CBD before that."&nbsp;

Amenities spanning more than 3,000 sqm across multiple levels further reinforce this focus on resident experience. These include a pool, gym, co-working areas, and a range of hospitality-inspired spaces such as a whisky lounge, library, and private dining rooms, many drawing reference from traditional bathhouses and Melbourne’s laneway culture.

"We wanted to make both the pool and the gym area to be absolutely destinational, and when you traverse across to these spaces, there is a gentle familiarity to the beautiful notions of the hammams and the Roman baths, a gentle nod to history," Chang noted.

At street level, the project contributes to the ongoing transformation of the western CBD, with upgrades to Langs Lane and the introduction of retail, hospitality, and gallery spaces designed to activate the precinct and strengthen its connection to the surrounding city fabric.

[smartcode_project:default project_id=509 project_image_fid=365689]

The location places residents within walking distance of Southern Cross Station, Flagstaff Gardens, Queen Victoria Market, and the Docklands waterfront, positioning the development within a rapidly evolving inner-city neighbourhood.

"We believe it's the best site left in the city of Melbourne," Craig Williams, Executive Director at Far East Consortium, said.&nbsp;

640 Bourke Street is Far East Consortium’s 14th building in Melbourne’s western CBD.

"A very elegant designed building. It's going to be a Melbourne statement for many, many years to come."

One-bedroom apartments are priced from around $640,000, with 640 Bourke Street targeting completion in 2029.

Renders shown are Artist's Impressions correct as of May 2026.

[smartcode_project_cta:default project_id=509]

Heritage-led design anchors Far East Consortium’s 640 Bourke St, Melbourne

<a href="https://www.apartments.com.au/developers/mayd-group">MAYD Group</a> has set a new residential price record in Queensland with the $30 million sale of the penthouse at its <a href="https://www.apartments.com.au/new-apartments/one-burleigh-88-the-esplanade-burleigh-heads-qld-4220">ONE Burleigh</a> development in Burleigh Heads.

The sale equates to around $37,500 per sqm.

The two-level, 800 sqm penthouse, featuring five bedrooms, five bathrooms, five car spaces, and a private infinity pool overlooking the Pacific Ocean, was acquired by a Gold Coast-based entrepreneur, highlighting continued demand for ultra-premium beachfront product.

Selling agent Freddie Tehle of PRD Burleigh Heads said the result reflects tightening supply of high-quality, large-format apartments in Burleigh.

“There’s very limited opportunity to secure this level of scale and absolute beachfront position in <a href="https://www.apartments.com.au/developments/burleigh-heads-qld-4220">Burleigh Heads</a>,” Tehle said.

“Buyers are increasingly seeking apartments that genuinely replace a standalone home, and this penthouse delivers that with its size, privacy, and direct ocean frontage.”

[smartcode_project:default project_id=146358 project_image_fid=323057]

The sale comes as construction progresses on ONE Burleigh, a boutique development of 17 full-floor residences at 88 The Esplanade, scheduled for completion in early 2027.

Developed by MAYD Group and designed by <a href="https://www.apartments.com.au/architects/mas-architecture-studio">MAS Architecture</a> with interiors by <a href="https://www.apartments.com.au/interior-designers/sici-design">Sici Design</a>, the project has been positioned as a collection of house-sized beachfront apartments, each occupying an entire floor with around 381 sqm of internal and external living space.

When construction commenced, MAYD director Todd Mould pointed to the long-term resilience of premium coastal real estate as a key driver behind the project.

“Real estate, particularly at the premium end, remains one of the most resilient and proven long-term investment avenues,” Mould said.

“Our ambition is that anyone who buys a MAYD-built product can genuinely feel the care, craftsmanship and commitment we bring to every detail.”

[smartcode_project:default project_id=146358 project_image_fid=323055]

Each residence has been configured with four bedrooms, multiple living zones, a private office, and expansive ocean-facing terraces. Interiors draw on a restrained material palette, including travertine stone, timber joinery, and integrated premium appliances.

Interior designer Sici Design said the approach was to reflect the project’s coastal setting through both materiality and spatial planning.

“ONE Burleigh is our vision of luxury living, designed to bring the essence of Burleigh Heads' vibrant coastal beauty into an unparalleled residential experience.”

Residents will have access to a suite of wellness-focused amenities, including pools, sauna facilities, and dedicated relaxation spaces, reflecting a broader shift toward lifestyle-driven apartment design on the Gold Coast.

[smartcode_project:default project_id=146358 project_image_fid=323052]

The project occupies a southern Esplanade site with uninterrupted beachfront frontage, an increasingly rare offering in Burleigh Heads, free from the Norfolk Pines that line much of the coastline and often limit direct ocean outlook.

Mould said the design intent was to balance that outlook with a sense of retreat.

“Living at ONE Burleigh is about how your day naturally unfolds, morning light across the ocean, coffee on the balcony, and being in Burleigh but elevated above the noise.”

The result further reinforces Burleigh Heads’ emergence as one of the Gold Coast’s most tightly held and supply-constrained beachfront markets, where boutique, owner-occupier-focused developments are increasingly setting new price benchmarks.

[smartcode_project_cta:default project_id=146358]

MAYD Group sets Queensland record with $30 million penthouse sale at ONE Burleigh in Burleigh Heads

Apartment developers in the Gold Coast are finding new, creative ways to differentiate themselves from competing projects, as new supply starts to flow through up and down the Coast.

Developer BIG Projects brought in the renowned Sydney-based design studio YSG Studio to craft the interiors for The Frederick, BIG Projects' new Mermaid Beach project and YSG Studio's first move into the multi-residential development space.

[smartcode_project:default project_id=110588 project_image_fid=5346]

It was a strategic move for BIG Projects to bring in a Sydney eye to the development.

“Our role is to give our design partners the space and freedom to explore,” says Matt Barrett, Director of BIG Projects.

“We wanted YSG Studio to capture the essence of Nobby’s, to design a building that embraces life, light and connection, while creating a genuine sense of place.”

There are only 39 apartments in The Frederick, including a striking beach house, just 100 metres from the booming Nobby Beach precinct.&nbsp;

[smartcode_project:default project_id=110588 project_image_fid=5347]

Yasmine Ghoniem, Director of YSG Studio, says their vision&nbsp;for The Frederick "reinvents coastal living."

“Nobby’s has such an iconic energy, it’s one of those rare pockets of the Gold Coast where the community, the beach, and the streets all feel connected,” Ghoniem says.

"Responding to the neighbouring coastline, soothing curves add a relaxing regional overlay, while unique detailing really sets it apart. It’s a place that feels lived in from the moment you step inside.”

A standout feature of The Frederick is its rooftop terrace, an uncommon inclusion for a boutique, low-rise building, where amenity is typically concentrated at ground level.

[smartcode_project:default project_id=110588 project_image_fid=5360]

Positioned to capture panoramic views from the hinterland to the ocean, the rooftop has been designed as a series of intimate zones. It includes a pool, sauna, sun decks, workspaces and dedicated entertaining areas.

“The rooftop was conceived as a collection of spaces where residents can unwind and connect, an extension of the Nobby’s lifestyle,” Barrett says.

Architecture for the project was led by Plus Studio, with landscape design by LDG Landscape Architecture.

SRQ Projects Director Nick Clydsdale, who is handling sales at The Frederick, says the majority of enquiry is coming from South East QLD and Victorian buyers who have been actively searching between Broadbeach and Mermaid Beach for some time.

"They’ve reviewed a number of projects, however this one has stood out for its unique detailing and compelling design,"&nbsp;Clydsdale says.

Site demolition is slated for this month, with construction commencing soon after. BIG Projects is targeting a late 2027 completion.

[smartcode_project_cta:default project_id=110588]

Sydney’s YSG Studio makes Gold Coast multi-residential debut with BIG Projects at The Frederick

Melbourne-based property developer ALTA Property has this week achieved planning approval for the adaptive re-use of a former commercial tower into a $200 million, 169-apartment project at 10 Queens Road, one of the last developable sites along the Albert Park Lake-fronting boulevard.&nbsp;

Set within one of Melbourne’s most sought-after precincts and designed by <a href="https://www.apartments.com.au/architects/fraser-partners-0">Fraser and Partners</a>, the illustrious building will offer unparalleled views across Albert Park Lake, Port Phillip Bay and Melbourne CBD.&nbsp;

The mix of 1, 2 and 3-bedroom residences will be complemented by a ground-floor amenity featuring private dining, a lounge bar, gym and wellness spaces, co-working, outdoor communal gardens, and retail.&nbsp;

The 17-storey building is a masterclass in adaptive re-use, with the existing commercial building’s façade, shell and internal structure to be retained, before high-end residences are built from the ground up in a newly built Albert Park facing addition to the building.&nbsp;

Sitting atop the building will be two 320+sqm penthouses with private rooftop terraces, which are expected to be priced between $9 - $11 million.&nbsp;

<img alt="ALTA Property achieves permit approval for $200 million Queens Road tower" data-entity-type="file" data-entity-uuid="aa11211b-5581-43f9-940c-fc84d30a0e61" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/C_04.png?VersionId=Yhf5p_1EgGDu_zOIMFgvA8Ug8j3sTFQs" />

Architecturally, the building will feature a curved, geometric façade that celebrates and elevates the existing structure, with warm, muted tones which were selected to extend the materiality of the existing building rather than contrast it.&nbsp;

Interiors will bring together three metre high ceilings with waffle concrete in some spaces, natural timber, granite and Australian materials, culminating in crafted, generous and considered spaces that are defined by authenticity.&nbsp;

The adaptive re-use means that the Queens Road project will be a sustainability led, high-quality finished product, with a 62% saving in carbon emissions by re-using the existing structure rather than knocking it down and rebuilding.&nbsp;

ALTA Property was launched by Nigel Givoni in 2023, bringing over 25 years of experience in multi level residential delivery.&nbsp;

Melbourne’s property market growth is currently led by apartments. According to RPM VIC Apartments &amp; Townhomes Market Report (April 2026), units are outpacing houses, especially in the middle ring suburbs where median prices hit $757,500 – a four-year high that represents 2.9 percent growth quarter-on-quarter.&nbsp;

<img alt="ALTA Property achieves permit approval for $200 million Queens Road tower" data-entity-type="file" data-entity-uuid="647e13d7-b4bc-433a-9bc9-fe3c3dd4f2ec" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/V_06.png?VersionId=ou4NUCWUgA3NAy.6CQJlEdKX50j3dOk6" />

For ALTA Property Founder Nigel Givoni, this performance speaks to the confidence he has in the Melbourne market.&nbsp;

“Queens Road represents a rare opportunity to continue to shape our presence in the Melbourne market.,"&nbsp;Givoni says.

"With a considered project team and a premier site along one of the city’s most sought-after boulevards, we look forward to contributing to the fabric of this established address.

“Other Australian markets are getting a lot of attention, but I believe the depth of value in Melbourne is being overlooked. The fundamentals are strong, population growth is steady and, based on our preliminary conversations with a leading builder, construction costs are beginning to normalise, creating further opportunity."

Givoni says the project is a&nbsp;highly considered example of adaptive re-use, delivering quality, high-end residences, premium hotel-inspired amenities and an architecturally striking façade, all achieved without the need to remove the existing structure.

"We are really looking forward to the market’s response,” he said.&nbsp;

ALTA Property to deliver $200 million Queens Road apartment tower

Boarding House

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Boarding houses have proven to be one of the most resilient investments during COVID-19 with strong buyer demand leading to around $10 million in sales over the past three months.
Two development sites with approval for boarding houses have recently been sold in deals negotiated by Knight Frank, with a third sale of a boutique site sold for build to rent purposes.
A 975.5sq m property at 10 Naree Road in Frenchs Forest with approval for the demolition of an existing residential property and construction of a boutique 28 self-contained studio apartment ‘new generation’ boarding house was sold prior to auction for above $3 million.
The property was sold by Anthony Pirrottina, Demi Carigliano and Arland Domingo of Knight Frank after strong competition from local developers.
Another property at 88 Liverpool Road in Summer Hill, a 319.4sq m site with approval for a mixed-use development comprising one commercial tenancy and eight residential apartments totalling 465sq m, sold for $1.975 million after 111 bids at auction. The deal was negotiated by Anthony Pirrottina and Demi Carigliano of Knight Frank to a purchaser seeking to develop and retain the property as a mini ‘build to rent’ scheme.
A third DA approved boarding house development was transacted in the mid $3 million range offmarket in Ashfield to a local developer seeking to bolster their exposure to the boarding house and Inner West Sydney rental market.
Mr Pirrottina said that while the property market has been challenging in certain sectors since Coronavirus restrictions began in March, boarding houses continue to remain a strong investment class, with strong buyer interest particularly from a development perspective."
Mr Carigliano said as an investment class, boarding houses were a niche sector but buyer appetite had grown over the past three years in New South Wales, when planning laws were amended to allow for greater development of these assets.
“These assets provide buyers – who are often developers – with passive income and yields in the vicinity of 5% to 6.5% compared to a 3% to 4% yields for blocks of residential units,"  “The best performing assets are located in suburban Sydney markets, close to infrastructure including hospitals, public transport and universities. “Boarding houses can also be sold in one line as they are not strata-titled like units, which means investors can trade out of the asset faster if desired.”
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j.ballantyne1990-6AQqhLzZaK

Boarding houses prove to be COVID-safe investment

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The former three star hotel Bondi Sinclairs has been listed for auction.
The 24 room boarding house at 11 Bennett Street in Bondi is being marketed by CBRE's Paul Grasso as being potentially suitable to be converted in to residential apartments.
Set on a 505 sqm block, the three level block has ocean views from the elevated floors.
It last traded for $2.8 million in 2004, and has previously been around $90 a night to book a room, some which come with their own private bathrooms.
The building is going under the hammer October 13 and is being offered with vacant possession. 
 
    
 
 
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jrobinson-rf4aSBido9

Sinclairs Bondi up for auction up for auction with residential conversion potential

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A substantial boarding house on the fringe of Surry Hills and Redfern has been listed for sale for the first time in over a decade.
The property at <a href="https://www.commercialrealestate.com.au/property/745-747-south-dowling-street-redfern-nsw-2016-2015106578" target="_blank">745-747 South Dowling Street</a> last traded for $2.5 million in 2007.
It's been listed by Alex Thorpe and Rhys Williams, the business partners behind designer hotel giant Veriu who made their money in student accomodation and furnished rooms.
Veriu was launched in 2016 but dates back to 2002 when Thorpe and Williams identified a niche in furnished accommodation leasing. They started with two rooms in Bondi. 
The South Dowling Street property spans three storeys and has 23 rooms.
It will be offered with a flexible operating structure which will be an initial lease of five years with 3 x 5-year options with an approximate return of $435,000 net.
<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/2019/4/3/Dowling2.jpg" alt=""> 
The structure will also incorporate a demolition clause allowing owner operators the opportunity to take the keys and maximise cash flow. 
Colliers International are marketing the property in conjunction with McGees Property.
Colliers agent Miron Solomons says the property benefits from literally billions of dollars of infrastructure projects both public and private being invested in the immediate precinct, including the new Sydney Light Rail, Surry Hills Shopping Village project, the Entertainment Quarter and the Stadium revitalisation project.
He said they anticipate interest across multiple buyer profiles ranging from investors to owner occupiers including student accommodation and boarding house operators.
“These candidates understand the intrinsic growth of owning and even operating assets surrounded by infrastructure investment and in close proximity to the education hub and nearby colleges," Solomons said.
The prominent corner freehold is set over two titles with a site area of around 380 sqm and is zoned R1 – General Residential. It has a May 9 auction date.
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Veriu founders list Surry Hills boarding house Park Side

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Boarding houses already with development approval are in high demand, according to the estate agency Savills.
The spike in interest comes after the NSW government has sought to limit boarding houses to a maximum of 12 rooms per site.
They are also seeking to limit boarding houses to just 0.5 car spaces per boarding room.
Savills Australia is seeing an influx of property owners looking to offload their assets and capitalise on the market in response to market uncertainty surrounding the new legislation.
Nick Tuxworth, associate director for the metropolitan &amp; regional Sales team, said he expected to see a spike in prices for properties that have already received development approval.
“We anticipate demand for such sites to build from developers who see them as high-yielding investments with 15-20 per cent returns and low vacancy rates,” he said.
"The tough rules exist to ensure boarding houses are only approved where they are close to public transport and adequate additional parking, and are compatible with council rules on density and building height”.
“The reason for the 12-boarding-room limit on boarding house developments in the R2 Zone is to address community concerns about amenity impacts, such as overlooking, overshadowing, and the loss of on-street car parking,” he said.
The metropolitan &amp; regional sales team recently sold a <a href="https://www.commercialrealestate.com.au/property/60-william-street-jesmond-nsw-2299-2014791772" target="_blank">Jesmond site</a> (top) for $1.175million, which had approval for 40 rooms, to a Sydney developer looking for “something more affordable in rural NSW”.
Director Nick Lower said many developers have been caught out by the changes.
“This market has been regulated by the government in the past 12 months, which has caught many developers out, and has forced changes in their DAs,” director Nick Lower said.
“We are finding several owners wanting to offload their sites due to these regulations so it’s a good time to be selling, as there is huge demand for approved sites with future uncertainty.”
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Savills expects high demand for boarding houses with development approval as NSW seek room limits

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EXPERT OBSERVER
Recent proposed changes to Boarding House legislation in NSW is pandering to elitists.
The NSW Department of Planning has issued a draft proposal to change the Affordable Rental Housing State Environmental Planning Policy 2009 in relation to the number of rooms permitted in boarding houses in R2 zones.
Boarding houses are an important source of affordable rental accommodation but it seems some communities would prefer them to be Not In My Backyard (NIMBY) and have put pressure on the government to minimise their impact.
The result is a draft proposal to limit the size of a new Boarding House to only 12 rooms in R2 areas.
If these changes are implemented they will make boarding houses unfeasible in many areas of Sydney where more affordable housing is desperately needed.
This proposal follows changes introduced in June 2018 to require 0.5 car spaces per room up from 0.2 spaces.
These additional onerous requirements greatly affect the feasibility of boarding house development resulting in a diminished supply of this type of affordable accommodation.
There is a clear shift in Sydney to rental housing as opposed to home ownership and this means governments must support Build to Rent models for long term rental accommodation as well as the more affordable new generation boarding houses.
The Urban Taskforce is concerned that the erosion of support for boarding houses that the current NSW Government is driving is making the feasibility of delivering this important contribution to housing affordability unsustainable.
The concerns of communities about this housing type can be handled through quality design so that boarding houses compliment the local character of an area.
We suspect however that the community concerns are more about objecting to the people who live in affordable rental housing than concerns about the buildings.
CHRIS JOHNSON is the Urban Taskforce CEO
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cjohnson-8xfqfuuCSq

Boarding house changes are pandering to elitists: Chris Johnson

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The NSW Government is considering reforms to cap the number of boarding rooms allowed in a boarding house development in low-density residential zones.
The cap with be a maximum of 12 per site.
Anthony Roberts, The Minister for Planning, said the changes had been drafted in response to concerns from communities about local impacts of some boarding house developments.
“Tough rules already exist governing the development of boarding houses to ensure they are only approved where they are close to public transport, compatible with council rules on density and building height, and where there’s adequate additional parking.
“We have listened to the community and councils and what we’ve heard is that they want more limits placed on these developments in low density areas.
He said the limit on boarding house developments in the R2 zone would address community concerns about amenity impacts, such as overlooking, overshadowing and loss of on-street car parking.
Labor introduced a boarding house State Environmental Planning Policy (SEPP) in 2009, but never imposed a room limit. 
“Establishing a maximum number of boarding rooms per site in low density zones will help to better manage any amenity impacts of boarding house developments on adjoining and nearby properties.”
Mr Roberts said the Affordable Rental Housing State Environmental Planning Policy (ARHSEPP) had already been amended earlier this year to address concerns about off street parking.
“The AHRSEPP was originally introduced in 2009 to increase the supply and diversity of affordable rental and social housing throughout NSW. 
“However, it’s clear that the size, scale and proliferation of boarding house developments in the R2 zone is not in line with what was envisaged when the ARHSEPP was introduced.
“We already made changes in June this year, in response to community concerns, to increase car parking standards to 0.5 spaces per boarding room in all locations.
“The proposed changes we are releasing today support the Government’s commitment to keep listening and to make sure communities are at the heart of planning policy,” he said.
The community is invited to comment on the proposed amendments which will be on exhibition from 28 November to 19 December 2018.
For more information <a href="https://www.planning.nsw.gov.au/affordablerentalhousingsepp" target="_blank">click here.</a><a href="https://protect-au.mimecast.com/s/vq0gCJyBy2tqBpAvtVHgiM?domain=planning.nsw.gov.au" target="_blank" data-saferedirecturl="https://www.google.com/url?q=https://protect-au.mimecast.com/s/vq0gCJyBy2tqBpAvtVHgiM?domain%3Dplanning.nsw.gov.au&amp;source=gmail&amp;ust=1543452549674000&amp;usg=AFQjCNEIsFj_FRyzheqg4UvRC--AdN5_9w"> </a>
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NSW government set to impose room limits for boarding houses in low density zones

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<div>The Jaycar Electronics, Bondi Junction premises sold at auction this morning for $4,445,000.</div>
<div> </div>
<div>It was listed by a syndicate headed by Sam Brewer.</div>
<div> </div>
<div>Jaycar recently renewed the lease until 2022 for the 125 Bronte Road premises.</div>
<div> </div>
<div>They are a national tenant with 100 stores through Australia and New Zealand.</div>
<div> </div>
<div>Jaycar have been at this location since 2006, auctioneer David Scholes noted.</div>
<div> </div>
<div>The site (pictured above) recently secured DA approval for a four level boarding house with 21 studio apartments.</div>
<div>
It is set over 424 sqm.
The property currently has a net income of $217,350 pa + GST and a net lease with tenant paying 100% of all outgoings, as per lease with fixed 3.5% increases annually.
<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/2018/10/4/Jaycar%202.jpg" alt="">
The corner has three street frontages (pictured above).
The property last sold for $2.04 million in 2014.
</div>
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Jaycar Bondi Junction redevelopment site sold

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Graceland, the Cleveland Street boarding house in Redfern, has been listed for sale for the first time in over two decades.
Formerly known as Meath House and Illoura, the property at <a href="https://www.commercialrealestate.com.au/property/461-cleveland-street-redfern-nsw-2016-2014718038" target="_blank">461 Cleveland Street</a> last traded for $725,000 in 1996.
The grand three storey terrace is the tallest on the long street.
<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/2018/10/22/Grace2.jpg" alt="">
It was built in the mid 1800s and was called home by Patrick Stanley, the four time mayor of Redfern.
The bright blue 485 sqm building is now a fully licenced 10 room, 20 person boarding house.
Fashion designer Melanie Greensmith also once called Gracelands home.
<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/2018/10/22/grace3.jpg" alt="">
She said it was full of musicians and artists, including singer-songwriter Tex Perkins. 
There's a two storey cottage on the rear of the 455 sqm land parcel which is currently leased at $750 a week until July 2019.
The boarding house is being offered as a going concern by TGC agent Scot Robertson, who has a November 17 auction.
Operated as fully-licensed budget accommodation, the house currently<a href="https://www.commercialrealestate.com.au/property/461-cleveland-street-redfern-nsw-2016-2014718038" target="_blank"> </a>returns about $190,000 a year gross.
 
 
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Redfern boarding house icon Graceland listed

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California, a 14 room boarding house fronting the busy Flinders Street in Darlinghurst, was passed in at auction last night at $3,975,000.
Refurbished since it last traded for $1,845,000 in 2010, <a href="https://www.realestate.com.au/property-other-nsw-darlinghurst-128628702" target="_blank">60 Flinders Street</a> (pictured below) on 190 sqm has three levels at the front and two at the rear.
<img src="https://www.urban.com.au/images/2018/7/18/DARLINGHURST.JPG" alt="">
Currently it yields around $323,000 gross annual revenue.
It sits near Taylor Square, Oxford Street, Surry Hills and Moore Park, with two street frontages to Flinders and Chisholm Streets.
The 14 rooms are currently made up of nine double studios, eight fully self-contained with their own ensuites, and five single units all with kitchenettes. They share three bathrooms.
There's an undercover communal courtyard with custom timber seating and barbecue facilities and an on-site coin-operated laundry.
It is being sold as a going concern, with all furnishings and inventory included in the sale.
Dominic D'Ettorre at D'ettorre Real Estate was marketing the property in conjunction with McGees Property agent John Grujovski.
They suggest its a fusion of modern design and classic features.
The vendor of California has listed the <a href="/expert-insights/investing/two-paddington-terrace-boarding-house-listed">Paddington boarding house Belle Vue</a> (pictured above) which was passed in at $5.15 million when offered at Cooley Auctions.
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14 room California, Darlinghurst boarding house passed in at $3.975 million

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California, a 14 room boarding house fronting the busy Flinders Street in Darlinghurst, has been listed for sale.
Refurbished since it last traded for $1,845,000 in 2010, <a href="https://www.realestate.com.au/property-other-nsw-darlinghurst-128628702" target="_blank">60 Flinders Street</a> on 190 sqm has three levels at the front and two at the rear.
Currently it yields around $323,000 gross annual revenue. It sits near Taylor Square, Oxford Street, Surry Hills and Moore Park, with two street frontages to Flinders and Chisholm Streets.
The 14 rooms are currently made up of nine double studios, eight fully self-contained with their own ensuites, and five single units all with kitchenettes. They share three bathrooms.
There's an undercover communal courtyard with custom timber seating and barbecue facilities and an on-site coin-operated laundry.
It is being sold as a going concern, with all furnishings and inventory included in the sale.
Dominic D'Ettorre at D'ettorre Real Estate is marketing the property for a July 17 auction in conjunction with McGees Property agent John Grujovski.
They suggest its a fusion of modern design and classic features.
The vendor of California has also listed the Paddington boarding house Belle Vue.
 
 
 
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