Sherpa Property Group has unveiled the third instalment of its Flourish series, securing full approval for the two-tower, $500 million Flourish Soleira development in Palm Beach.

<a href="https://www.apartments.com.au/new-apartments/flourish-soleira-1150-1154-gold-coast-highway-palm-beach-qld-4221">Flourish Soleira</a> will rise from a prominent site in the commercial heart of Palm Beach, the long-time home of Cash Converters and a range of local retailers.

The project will introduce a new retail and dining precinct at ground level, beneath 286 apartments.

[smartcode_project:default project_id=150017 project_image_fid=370959]

“We’re very committed to not only providing affordable residential offerings that are much needed in Palm Beach, but also delivering a vibrant new commercial heart that complements the extraordinary growth of the southern Gold Coast,” Sherpa Property Group founder Christie Leet said.

The development will sit under Sherpa's Flourish brand, which is aimed at providing a pathway into the beachside suburb for locals, first-home buyers and downsizers. In a move designed to assist first-home buyers entering the market, Sherpa has reserved all one and two-bedroom, one-bathroom apartments exclusively for eligible first-home buyers.

[smartcode_project:default project_id=150017 project_image_fid=370964]

“Our vision through Flourish is to create a vibrant retail and lifestyle focal point within the Palm Beach centre zone, delivering thriving communities underpinned by lifestyle-rich locations,” Leet said.

“So far, Flourish has been an incredible success, and we hope to carry this momentum as we progress the next two Flourish projects in Palm Beach.”

[smartcode_project:default project_id=150017 project_image_fid=371430]

Located across 1150-1164 Gold Coast Highway and 3 Sixth Avenue, the development will comprise two towers. The northern tower will deliver 154 apartments, while the southern tower will add a further 132 residences, helping address ongoing demand for new apartments in the tightly held coastal suburb.

Flourish Soleira will also feature the most extensive rooftop amenity offering ever delivered in Palm Beach.

The two towers will be connected by a skybridge, with residents gaining access to a rooftop recreation deck featuring a full-width swimming pool, hot and cold plunge pools, wellness spaces, a gymnasium, private dining facilities, massage treatment rooms, barbecue areas, a basketball court, golf simulator, indoor and outdoor dining spaces, sun lounges and extensive landscaping.

LPS Group is expected to start construction later this year.

Sherpa is already well advanced on construction of its debut Flourish project, Flourish Amargo, located just around the corner from Soleira. Meanwhile, Flourish Oasis, positioned opposite Amargo, recently commenced construction and has nearly sold out its collection of 47 apartments.

[smartcode_project_cta:default project_id=150017]

Joel Robinson

Sherpa unveils $500m mixed-use Palm Beach precinct, Flourish Soleira

Are mortgage holders set to get a reprieve from the RBA in 2026?

Big Four bank NAB believes so. They are now expecting the next move from the RBA to be a cut, rather than a hike, which they had pencilled in for August. They are unsure of the timing of the cut however, they note in their latest&nbsp;NAB Economics RBA Watch.

NAB Chief Economist, Dr Sally Auld, said recent data suggests the economy has lost momentum and the outlook for rates has shifted, noting that the broader economic backdrop has changed since earlier in the year.

“The next move in the cash rate is likely to be down, but the timing is uncertain," Dr Auld said.

"In February, growth was above trend, the economy was operating above capacity and there was uncertainty over the restrictiveness of rates. None of these conditions exist today,” she outlined.

Dr Auld said recent data pointed to softer momentum across the economy while acknowledging that at the same time, uncertainty remains a key feature of the outlook.

“Both Q1 GDP data and the NAB business survey suggest momentum in the economy has slowed, meaning that growth has likely peaked for the cycle. That said, we are cognisant there is still considerable uncertainty around the outlook, both with respect to activity and inflation.”

Dr Auld said inflation risks and labour market outcomes would be important to watch.

“On the prices side, we are still forecasting above target core inflation through to mid-2027. Margins will compress and weaker labour market outcomes are a risk.”

She said tighter financial conditions are expected to weigh on housing and activity.

“Tighter financial conditions will be reflected in a slowing in house price growth and housing credit growth. In summary, we have greater conviction that the next move in rates is down, but less conviction on the timing.”

Mortgage relief? NAB forecasts RBA rate cut, not hike, after softer economic conditions

A local downsizer has splashed $6.5 million on a penthouse in Perifa's Alex &amp; Willow development in Crows Nest. 
&nbsp; 
The purchaser sold their long-held family home in the area before embarking on a six-month search for the right apartment. After inspecting a range of options across the Lower North Shore, the buyer returned to <a href="https://www.apartments.com.au/new-apartments/alex-willow-crows-nest-82-90-alexander-street-crows-nest-nsw-2065">Alex &amp; Willow</a>. 
&nbsp; 
The buyer profile reflects the project’s broader purchaser mix. <a>Alex &amp; Willow</a> has attracted predominantly local downsizers looking to transition from larger homes without compromising on space or quality, alongside a smaller cohort of upsizers and investors drawn to the project’s location and design credentials. 
&nbsp; 
The milestone sale comes as the project, developed by&nbsp;<a href="https://www.apartments.com.au/developers/perifa">Perifa</a>&nbsp;and delivered by <a href="https://www.apartments.com.au/builders/versatile-made-construction">Versatile Construction</a>, both part of Versatile Group, reaches 60 per cent sold.

[smartcode_project:default project_id=6680 project_image_fid=371325] 
&nbsp; 
Eddie Mansour, Managing Partner of <a href="https://www.apartments.com.au/project-marketer/ray-white-projects">Ray White Projects</a>, said the result demonstrates not only a headline price but also depth of demand. 
&nbsp; 
“This is an exceptional outcome and a clear reflection of sustained buyer demand for premium, well-located downsizer product,” Mansour said.

“We’re seeing a consistent pattern of local homeowners selling family residences and reinvesting into high-quality apartments that allow them to remain within their community. Alex &amp; Willow has resonated strongly with this group because it offers genuine scale, thoughtful design and immediate proximity to the village.” 
&nbsp; 
The sale reflects a broader and consistent trend of local downsizers actively seeking high-quality, low-maintenance residences close to established village centres. Agents report that demand for this product type has remained resilient, particularly where developments offer a rare combination of scale, design quality and walkable amenity. 
&nbsp;&nbsp; 
Fabrizio Perilli, Managing Director of Perifa and Versatile Group, said the sale marks a defining moment for the project. 
&nbsp; 
“The penthouse sale is a strong endorsement of the quality we have delivered, alongside our partners, and the clear demand from local downsizers for premium, boutique residences in this location,” Perilli said.&nbsp; 
&nbsp; 
“Most importantly, we’re proud to see the Alex &amp; Willow community beginning to take shape. As we move closer to completion, we’re looking forward to welcoming residents and seeing the project come to life.”&nbsp;

[smartcode_project:default project_id=6680 project_image_fid=338516] 
&nbsp; 
Designed by <a href="https://www.apartments.com.au/architects/nettletontribe">Nettleton Tribe</a> with interiors by <a href="https://www.apartments.com.au/interior-designers/richards-stanisich">Richards Stanisich</a>, Alex &amp; Willow is a boutique collection of generously sized two- and three-bedroom residences in the heart of Crows Nest village.&nbsp;

Completion is slated for early 2027.

[smartcode_project_cta:default project_id=6680]

Alex & Willow, Crows Nest penthouse sells off the plan for $6.5 million

Fresh from launching the first stage of its Wollongong precinct, <a href="https://www.apartments.com.au/new-apartments/keira-place-wollongong-120-122-smith-street-wollongong-nsw-2500">Keira Place</a>, builder-developer Urban Property Group has unveiled plans for the next phase of the masterplanned community.

Now on public exhibition through the NSW Government's Housing Delivery Authority pathway is a State Significant Development Application for a further 657 homes on the prominent gateway site opposite Beaton Park.

The proposal comprises three buildings, including two build-to-sell towers rising 25 and 30 storeys, delivering 391 apartments, alongside a 12-storey co-living building with 266 residences, making it one of the largest co-living proposals currently planned in regional New South Wales.

Of the apartments proposed in the build-to-sell towers, the majority, 310, are two-bedroom dwellings. The balance comprises 44 one-bedroom apartments and 37 three-bedroom residences. Apartment sizes range from around 50 sqm for one-bedroom homes to approximately 90 sqm for three-bedroom apartments.

<img alt="Smith St" data-entity-type="file" data-entity-uuid="19347059-1612-41a0-9c74-b86a657237f8" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-06-10%20at%2010.02.18%E2%80%AFAM.png?VersionId=sWXnaCcA.cIC6N8YT1dg5pJ2e1V3Z6z7" />

The submission says the proposal has evolved significantly from its original Housing Delivery Authority application following extensive consultation with the State Design Review Panel and Wollongong City Council.

The final scheme has been designed to align with the emerging vision for the Flinders Street Precinct, an area identified by Council as a future high-density mixed-use neighbourhood capable of accommodating substantial housing growth close to transport, employment and community infrastructure.

According to the design report prepared by COX Architecture, the development aims to "deliver a built outcome consistent with the future character of the Wollongong CBD while responding to the site's unique constraints and opportunities."

"Our vision for the next phase of the site evolution in Wollongong is grounded in three design pillars that guide the design response: place, natural environment and celebration," COX said.

"Inspired by its surroundings and grounded in the stories of place on Wodi Wodi Country, the design proposal acknowledges the established character of its setting while creating a unique and timeless identity that sits harmoniously within it.

"The design proposal responds to its specific site conditions, acknowledging the vegetation, climate, wind conditions and solar access of the site."

The architecture responds directly to the site's position between Wollongong's urban core and its natural landscape setting.

COX identified views towards Mount Keira and the Illawarra Escarpment as defining features of the site, while the upper levels of the towers will also capture expansive views across the city and out to the Pacific Ocean.

The design team has positioned the tallest buildings closer to the rail corridor, where overshadowing impacts can be better managed while establishing a landmark built form on the northern approach into the city.

<img alt="Smith St" data-entity-type="file" data-entity-uuid="79580d5b-500c-4ebf-9629-797146a4a694" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-06-10%20at%209.51.59%E2%80%AFAM.png?VersionId=WbTB1EKSG.KDfsfz0F3wp1QVa2oCMGR5" />

Urban Property Group secured the 11,000 sqm Smith Street site in 2022 and has since progressed plans for the broader Keira Place precinct.

Construction recently commenced on the first stage of Keira Place, which will deliver 150 apartments across two residential buildings, including 27 affordable housing apartments and 18 specialist disability accommodation dwellings, alongside activated ground-floor retail and commercial space.

Urban Co-CEO Patrick Elias said the commencement of construction marked a significant milestone for Wollongong and reflected the developer's long-term commitment to regional cities.

"Today's groundbreaking is about turning approvals into homes and moving quickly to deliver much-needed housing in Wollongong's city centre," Elias said.

"Keira Place will provide a diverse mix of homes close to jobs, transport and services, while setting a high benchmark for quality, durability and consumer protection."

Read more:&nbsp;<a href="https://www.apartments.com.au/news/nsw/groundbreaking-marks-start-of-construction-at-keira-place-in-wollongong-cbd">Groundbreaking marks start of construction at Keira Place in Wollongong CBD</a>

&nbsp;

&nbsp;

&nbsp;

Urban Property Group unveils trio of towers for next stage of new Wollongong precinct, Keira Place

Central Element is seeking approval for a significant residential redevelopment in Lavender Bay, lodging plans for a dual-tower apartment project that would deliver 163 new homes on a prominent site at the northern gateway to Milsons Point.

The Sydney-based builder-developer has lodged a concurrent rezoning proposal and State Significant Development Application for <a href="https://www.apartments.com.au/new-apartments/64-66-lavender-street-lavender-bay-nsw-2060">64-66 Lavender Street and 3-7 Middlemiss Street</a>, a 2,305 sqm amalgamated site currently occupied by a collection of ageing residential flat buildings.

Designed by SJB, the proposal would replace the existing 32 apartments with two residential towers rising 23 and 32 storeys, comprising 163 apartments including affordable housing managed by a community housing provider. The project forms part of the NSW Government's Housing Delivery Authority program and has been progressing through a fast-tracked state planning pathway since being endorsed for further assessment in 2025.

The proposal is one of the most significant redevelopment opportunities currently under consideration on Sydney's lower north shore, sitting between the high-density towers of Milsons Point and the lower-scale heritage fabric of Lavender Bay.

<img alt="Lavender Bay" data-entity-type="file" data-entity-uuid="93ecf0ee-487d-4292-afc4-0bc9579475d6" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-06-10%20at%209.30.48%E2%80%AFAM.png?VersionId=PunU2ipMaTxiJcJ8NdMyUlWA7d98eNUb" />

The planning proposal seeks a substantial uplift from the current 12 metre height limit, which would only allow for a four-storey building, however the submission argues a scheme within these limits would not be&nbsp;economically feasible given the complexity of site amalgamation and would fail to maximise housing delivery on land located within walking distance of major transport infrastructure.

SJB said the design evolved significantly following discussions with the Department of Planning, Housing and Infrastructure and independent design review processes.&nbsp;Rather than pursuing a single larger tower, the architects adopted a two-tower approach aimed at reducing perceived bulk, preserving view corridors and creating greater permeability at ground level.

The northern tower would rise 23 storeys and contain 81 apartments, while the southern tower would reach 32 storeys and accommodate 82 apartments. Five basement levels would provide 174 car spaces, 181 bicycle spaces and 10 motorcycle spaces.

"The proposal for 3–7 Middlemiss Street and 64–66 Lavender Street is driven by a clear ambition to complete the Middlemiss Peninsula, delivering the final piece of a carefully evolving urban precinct," SJB noted in its design report.

"Positioned at the threshold between Lavender Bay and the North Sydney CBD, the development is envisioned as a unifying element—one that completes the skyline composition while providing a considered and harmonious transition between the peninsula’s established character and the intensity of the CBD beyond.

"Collectively, the development aspires to create a landmark that is generous, inclusive, and deeply connected to its setting, one that enhances the skyline, strengthens the public realm, and contributes to a more equitable and sustainable urban future."

Communal spaces would be distributed across multiple levels, including landscaped podium gardens, swimming pool facilities, barbecue areas and rooftop-style retreat spaces designed for residents. The proposal delivers more than 1,500 sqm of communal open space and nearly 400 sqm of indoor communal facilities.

<img alt="Central Element" data-entity-type="file" data-entity-uuid="0671c276-6dd8-4cfc-97b0-134a45d2c8cf" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-06-10%20at%209.30.17%E2%80%AFAM.png?VersionId=90D7lRaCTMTsFx92tIBrHlZcuaV_a4cw" />

A major focus of the planning assessment has been the project's relationship with surrounding public open spaces.

Clark Park, Bradfield Park and Wendy Whiteley's Secret Garden are among the lower north shore's most valued public landscapes, and overshadowing impacts have been closely examined through the design process. Central Element is proposing to also create a new public plaza and pocket park as part of the development.

Central Element has been developing across Sydney since 2010.

They have recently completed their Chatswood tower, Ethos Chatswood, as well as their luxury redevelopment of Coogee's landmark Ballamac House. They are currently selling Pearl Bondi, just seven high-end homes, while future plans include a tower on Hyde Park, and a boutique project in Neutral Bay.

First look: Central Element reveals Lavender Bay apartment plans

Cairns

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Sentinel Property Group has purchased a fully leased office building in Cairns for $8.5 million, marking its second investment in the North Queensland city.
The 139 Grafton Street property comprises a four-level commercial office building with a total net lettable area of 2,453 sqm.
The property is fully leased to two tenants, Queensland Health on a new five-year lease expiring in 2022, and a well-established medical office.
Sentinel purchased DFO Cairns retail complex last year. Its property portfolio in North and Central Queensland comprises a free-standing Big W in Atherton, a neighbourhood shopping centre and industrial property in Townsville, the Port of Airlie Maritime Terminal at Airlie Beach, two neighbourhood shopping centres in Emerald and seven retail, industrial, office and land holdings in Mackay.
Sentinel managing director Warren Ebert said the Grafton Street property was underpinned by solid government tenants and is well positioned within the Cairns CBD.
“Cairns is a market that we know very well and has been a major focus for us in successfully turning around the DFO Cairns centre over the past year through continual improvements and investment,” Ebert said.
The Brisbane-based group says it has confidence in the North Queensland economy and its future growth prospects.
“We see a lot of upside in the Cairns market on the back of its resurgent tourism sector and more than $20 billion of planned infrastructure and development projects that will drive further tourism and economic growth.”
These projects include the expansion of the Cairns airport, upgrade of the Port of Cairns, the Ella Bay Integrated Resort Development and Rio Tinto’s Amrun Bauxite Project among others.
The Cairns office property is the sixth asset for the Sentinel Regional Office Trust, which since October 2016 has acquired more than $188 million of properties nationally. The Sentinel Regional Office Trust has a current net distribution of 9.50% pa (paid monthly).
Its other assets include office buildings in Darwin and Casuarina in the Northern Territory, an office property on the fringe of the Brisbane CBD, and office properties in Port Macquarie and Newcastle in New South Wales.
Ebert said the Trust would continue to look at more office acquisitions in regional locations.
“We have a number of further regional office acquisitions in the pipeline, providing diversity of income both geographically and by tenant, in line with our proven opportunistic buying strategy in sectors and locations yet to be fully identified by others.”
Sentinel Property Group has a total national portfolio of more than 40 retail, industrial, office, land, tourism infrastructure and agribusiness assets across Australia with a total value that is more than $1 billion.
Late in 2016, the group purchased the Port Hedland Boulevard Shopping Centre in Western Australia for $17.6 million from a private vendor.
It said the company has sold a total of 15 properties for $306.46 million at an average Internal Rate of Return of 26.60% across its national portfolio since its inception in 2010.
 
 
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jonathanchancellor-7SQnKwU6yx

Sentinel acquires Cairns office asset with government tenant for $8.5 million

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A $500,000 outlay in Cairns can secure a modern suburban dwelling, according to Herron Todd White’s latest report.
The property advisory firm says that the majority of properties in Cairns are sold for under $500,000.
“A $500,000 property investment in Cairns will secure a well located modern executive style suburban dwelling, or alternatively an above average quality apartment in the Cairns CBD, located on the mid to upper levels of a near new high rise unit development.
“Indeed the purchaser or investor at this price level would find a large range of sectors, styles and locations available to choose from.
“However it remains impossible to spend $500,000 on a new apartment due to the absence of new unit construction at that level.
“The $500,000 mark in the Cairns market is relative to the current median price levels of approximately $414,000 for houses and $220,000 for apartments.
“Over the past twelve months, 75% of houses and 95% of apartments sold in Cairns have transacted under $500,000,” the report stated.
A three bedroom house at <a href="https://www.realestate.com.au/sold/property-house-qld-bentley+park-124902638" target="_blank">24 Bathurst Drive</a>, Bentley Park (above) was sold for $355,000.
A three bedroom unit at <a href="https://www.realestate.com.au/sold/property-unit-qld-trinity+beach-125802850" target="_blank">6/108 Trinity Beach Road</a>, Trinity Beach (below) was sold for $308,500.
<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/2017/07/25/6_108%20Trinity%20Beach%20Road.jpg" alt="">
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j.ballantyne1990-6AQqhLzZaK

Most Cairns residential properties sold under $500,000: HTW

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The site of one of only two licensed brothels in Cairns has been listed for sale.
The property at <a href="https://www.raywhite.com/qld/cairns/1680079/" target="_blank">7 Owen Close, Portsmith</a> is being offered for sale via an expressions of interest campaign closing July 13 through Ray White Commercial.
The freehold building on a land area of nearly 2,095 sqm land area has potential for redevelopment subject to council approval.
Listing agent Scott Green of Ray White Commercial Cairns said the property is close to Cairns CBD.
“The existing large, residential style building of approximately 430 sqm has previously been utilised as a brothel and can continue trading within this use under the Cairns Town Plan,” he said.
The building has a reception, office, eight rooms, store room, laundry and double garage. 
It also has an external concrete driveway with parking spaces and high metal security fencing.
Green said the building is situated on a level allotment with the balance of approximately 50 per cent of the land ready for future development.
“Town planning advice suggests there is good planning grounds to provide support for a material change of use for a range of industrial uses,” he said.
The site is close to public transport, the Cairns Port and shops.
It last traded for $500,000 in 2003, according to RP Data.
 
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Former brothel site for sale in Cairns

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The Cairns market is one of the few regional markets that has performed moderately well over the past five years, according to REQI's latest report.
The quarterly median house price did not grow this quarter, holding steady at $395,000, but compared with 2011, has grown 12.2 percent.
The unit market fell 6.1 percent over the quarter to $225,000, however, for the year the market has grown 4 percent and has grown 6.8 percent over the past five years.
This is remarkable when compared with other regional unit markets.
A two bedroom house at <a href="https://www.realestate.com.au/sold/property-house-qld-cairns+north-117350835" target="_blank">6/281 Esplanade</a>, Cairns North (above) was sold for $375,000.
Similarly a three bedroom house at<a href="https://www.realestate.com.au/sold/property-house-qld-cairns+north-123330390" target="_blank"> 382 McLeod Street</a>, Cairns North (below) was recently sold for $390,000.
<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/2017/03/16/382%20McLeod%20Street.jpg" alt="">
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Cairns market continues to perform moderately well: REIQ

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Newly formed management company, Crystalbrook Collection, will invest $370 million into the development of three hotels in Cairns. 
The timeline for the projects will see a 5+ star hotel become operational each year for the next three years.
Crystalbrook Collection CEO Mark Davie said the investment was in response to the expected spurt in tourism in Cairns.
“We believe that Cairns is in need of high quality hotels. Our developments are set to respond to anticipated growth in tourism as highlighted by recent Smith Travel Research reports,” he said.
Statistics compiled by Smith Travel Research for the 12 months to January 2016 showed a 74.7% occupancy rates in Cairns, up by 8.6% and double digit growth in revenue per room available, with growth figures coming in at 15.1%.
Cairns developer Prime Group will develop the hotels from concept to conception. The project pipeline includes:
137 Esplanade — A 264-room hotel, previously operating as Rydges Tradewinds, will be redeveloped to create a 311-room hotel tower with a 12-storey tower built alongside. The Great Barrier Reef inspired development will play host to a rooftop bar and lounge. Beginning construction in 2017, the property is set to be operational by July 2018.
163 Abbott Street, Cairns — A 4,000 sqm greenfield block located in the city centre will hold two towers, the first being a 222-room hotel with function rooms, restaurants and bars. The second would be a 110-room apartment complex that will be released on the market. Development will begin mid 2017 with completion expected February 2019.
85 Esplanade (Bellview) — A waterfront esplanade location will hold a new hotel (constructed on the site of a previously existing hotel and office suite). Construction on the 300-room hotel will begin late 2018 with operations expected to begin October 2019.
<img src="https://www.urban.com.au/images/2017/03/06/Cairns2.png" alt="">
Each development will have a minimum $100 million invested with the overall project expected to inject $900 million into the economy. 
Davie said the collection would be self-managed, turning down offers from major luxury hotel chains to manage the assets. 
“We held significant discussions regarding management with several brands, both leading luxury operators and white-label groups, however for a growing brand focused on authenticity, self-management was determined the best option.”
Once operational, the hotels will join Crystalbrook Collection’s recently acquired portfolio of tourism entities - Crystalbrook Lodge, a lodge experience in Northern Queensland and M.V Bahama, a 28-million luxury charter yacht based in Port Douglas. 
The company also has investments within the Queensland pastoral industry, owing an 85,000acre working cattle station, with a recent announcement indicating a further $20 million-dollar pastoral industry investment in the immediate future. 
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prateek24-ezbwHMbNAk

Three 5-star hotels planned for Cairns

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The Cairns property market remains hampered by a continued lack of confidence and optimism despite solid fundamentals, according to HTW’s February 2017 update.
The valuation firm says low rental vacancy rates, no obvious oversupply in any market sector and continued improvement in tourism are positive signs for the region’s market.
Plans have recently been announced by Syrian billionaire Ghassan Aboud to invest $200 million to redevelop the Rydges Tradewinds Hotel on the Cairns waterfront and to build a new 200-room hotel at the corner of Lake and Aplin Streets in the CBD.
In addition, sales in the $550 million Nova City development by World Class Land, a subsidiary of Singaporean listed company Aspial, have now been launched.
The report suggests that these developments may be the catalyst the Cairns economy and property market needs to overcome investor scepticism created by the numerous other projects that have not managed to get out of the ground over the past few years.
“If successful they will inject much needed confidence into the city,” the report says.
“The performance of the Cairns economy and Cairns property market in 2017 will be dependent to a large degree on the above projects commencing.
“If no large projects get out of the ground we envisage little change and 2017 may well be a carbon copy of 2016 with slow but consistent sale rates, tight rental vacancies and a constrained finance environment.”
A three bedroom unit at <a href="https://www.realestate.com.au/property-unit-qld-cairns+city-124788370" target="_blank">24/189-191 Abbott Street</a>, Cairns City (above) has been listed for $595,000.
Similarly a three bedroom house at <a href="https://www.realestate.com.au/property-house-qld-mount+sheridan-124655726" target="_blank">53 Marsden Street</a>, Mount Sheridan (below) has been listed for $389,000.
<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/2017/02/20/53%20Marsden%20Street.jpg" alt="">
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New projects may be Cairns' much needed confidence shot: HTW

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When it comes to rental yields on a property, there’s no beating Cairns when it comes to apartments.
The Queensland city occupies eight spots in the Top 10 highest gross rental yields compiled by CoreLogic, including the top four.
The southern suburb of Woree in Cairns tops the list with a rental yield of 8.7 percent on a median unit value of $137,358, according to CoreLogic’s Best of the Best 2016 report that tracks various housing indicators up to the 12 months to September 2016. 
The only other suburbs not from Cairns are Elizabeth East and Davoren Park in Adelaide’s Playford, occupying fifth and sixth places, respectively.
 <img src="https://www.urban.com.au/images/2016/12/23/CairnsUnitRentYld.png" alt="">
According to the latest RP Data, the median asking rent for Woree is $255 per week.
Property Observer looked around for units around the median value of $137,358 on RP Data to see what their current yields were. 
A two-bedroom unit at <a href="https://www.realestate.com.au/sold/property-unit-qld-woree-116149035" target="_blank">3/10 Girralong Street Woree, QLD, 4868</a>, which last traded owners in 2014 for $136,000 was last rented out for $260 pw, which gives a rental yield of 9.94 percent.
<img src="https://www.urban.com.au/images/2016/12/23/CairnsNo1.png" alt="">
Another two-bedroom unit at <a href="https://www.realestate.com.au/sold/property-unit-qld-woree-122550290" target="_blank">2/1 Sandown Close Woree, QLD, 4868,</a> which sold in June 2016 for $133,000 was last leased for $260 pw, implying a solid yield of about 10.16 percent. 
 <img src="https://www.urban.com.au/images/2016/12/23/CairnsNo2.png" alt="">
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Cairns is undisputed king of rental yields for units

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The Cairns market has slowed in terms of numbers of sales, with sale numbers during 2015 to 2016 as a whole down by about 7% on 2014 to 2015, according to Herron Todd White’s latest monthly market report.
The property advisory firm says that in addition price growth during the year has been minimal.
"Our chart shows the price breakdown for houses sold in Cairns in each price category in 2015 to 2016 compared to 2014 to 2015. It highlights that the majority of house sales remains clustered in the $300,000 to $450,000 price bracket and is relative to a Cairns median house price of precisely $400,000 during the 2015 to 2016 year," the report stated.
House sales during 2015 to 2016 have slowed noticeably in each of the sub $450,000 price brackets and most noticeably in the sub $350,000 price bracket. This is most likely due to a lack of first home buyers and low end investors in the market.
An example would be a four bedroom home at <a href="https://www.realestate.com.au/property-house-qld-bentley+park-123837730" target="_blank">20 Cadell Street</a> (above) that is for sale for $359,000.
However sales overall have increased in the $450,000 plus price brackets as confidence has continued to slowly build in this segment.
Sales in the $1 million plus category occurred during 2015 to 2016 across a variety of suburbs, with the highest numbers being observed in Redlynch, Trinity Park, Whitfield and Holloways Beach.
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Minimal Cairns house price growth: HTW

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CBRE Hotels has been appointed to sell the Grand Hotel Cairns on a freehold going concern basis.
Positioned on a 2,035sqm landholding, the well-known traditional pub style venue is located on a high profile corner in the heart of the Cairns CBD.
The venue comprises the Croc Bar – featuring a distinctive timber crocodile bar top and serving as a prominent communal space within the hotel – as well as an adjoining public bar including a casual lounge and dining area, which services a classic hotel menu catered for by the full commercial kitchen.
The hotel also features two alfresco dining areas, a separate designated gaming room with 20 machines and first floor accommodation comprising 19 guest rooms, communal lounge and kitchen areas.
It also includes an adjacent dual lane drive through with two detached bottle shops. 
Paul Fraser said the strong level of enquiry recorded throughout the successful sale of the Cairns Courthouse Hotel reflects astute investors interest in the leisure market.
Offers close November 23.
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Grand investment opportunity in Cairns hotel market

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Across Cairns, median values have shown little to no growth over the past year, with detached house values rising by 1.1 percent and unit values up by a minimal 0.1 percent, according to CoreLogic's regional market report.
<a href="/images/2016/09/07/Screen%20Shot%202016-09-07%20at%2011.34.49%20AM.png" target="_blank">Click to enlarge</a>
<img src="/images/2016/09/07/Screen%20Shot%202016-09-07%20at%2011.34.49%20AM.png" alt="">
The rental market across the region has also shown fairly steady conditions, with rental rates for houses unchanged over the year, while unit rents have risen by 1.8 per cent.
<a href="/images/2016/09/07/Screen%20Shot%202016-09-07%20at%2011.34.58%20AM.png" target="_blank">Click to enlarge</a>
<img src="/images/2016/09/07/Screen%20Shot%202016-09-07%20at%2011.34.58%20AM.png" alt="">
Investors can expect a similar level of returns, with gross rental yields down slightly for houses, from 5.4 per cent in June 2015 to 5.3 per cent in June 2016 and remaining at 7.3 per cent for units.
<a href="/images/2016/09/07/Screen%20Shot%202016-09-07%20at%2011.35.04%20AM.png" target="_blank">Click to enlarge</a>
<img src="/images/2016/09/07/Screen%20Shot%202016-09-07%20at%2011.35.04%20AM.png" alt="">
There has, however, been a relatively large drop in sales activity, with transactions 8.2 per cent lower than one year ago and the average time taking to sell houses lengthening by 12 days and units taking 8 days longer to sell.
<a href="/images/2016/09/07/Screen%20Shot%202016-09-07%20at%2011.35.11%20AM.png" target="_blank">Click to enlarge</a>
<img src="/images/2016/09/07/Screen%20Shot%202016-09-07%20at%2011.35.11%20AM.png" alt="">
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