Developer <a href="https://www.apartments.com.au/developers/bottega-property-group">Bottega House</a> has secured council approval for its first Brisbane project - a $270 million luxury residential development on an absolute riverfront site in leafy St Lucia.&nbsp;

The 15-storey project, known as <a href="https://www.apartments.com.au/new-apartments/st-lucia-by-bottega-house-180-macquarie-street-st-lucia-qld-4067">St Lucia by Bottega House</a> , will occupy a prime north-facing site at 178-180 Macquarie Street, directly fronting the Brisbane River in the established inner-west suburb known for its rowing clubs, golf courses and sprawling University of Queensland campus.&nbsp;

St Lucia by Bottega House will feature a suite of amenities including dedicated wellness spaces, a mineral pool and cold plunge. The project has been positioned to attract affluent owner-occupiers seeking high-quality, house-sized apartments.&nbsp;

Bottega House has been set up by co-directors Nick Malloch, Louis Mennes and Craig Marsh.

Malloch said the project drew inspiration from its Brisbane River setting and leafy inner-west surrounds, while responding to the demands of discerning locals looking to transition from freestanding homes into apartment living.&nbsp;

"With an expansive river frontage and lush green surrounds, we knew we had to create something special that reflects the natural beauty of the location while offering residents masterfully crafted homes," said Malloch.&nbsp;

"Our intent was to complement the project's quiet, private setting by introducing residences that offer a calm retreat and sanctuary from the everyday. The result is a harmonious blend of architecture, interiors and amenity that emphasises wellbeing, comfort and beauty without excess."&nbsp;

Malloch added that project consultants had been carefully selected in alignment with Bottega House's commitment to care, quality and attention to detail. The design team includes architects <a href="https://www.apartments.com.au/architects/plus-studio">Plus Studio</a>, interiors practice <a href="https://www.apartments.com.au/interior-designers/mim-design">Mim Design</a> and landscaping by <a href="https://www.apartments.com.au/architects/urbis">Urbis</a>.&nbsp;

Three-bedroom apartments are expected to start around $5 millio. Selling agents Keenan &amp; Byrne said the pricing strategy for the project was anticipated to achieve upwards of $25,500 per square metre.&nbsp;

The project's development approval this week follows the success of Bottega House's inaugural Queensland project - a 22-storey collection of full-floor sky homes at Broadbeach on the Gold Coast which included the sale of a two-storey penthouse at a record price for a beachside residence.&nbsp;

St Lucia by Bottega House is expected to launch to market in November, with construction anticipated to be completed mid 2029.

[smartcode_project_cta:default project_id=151826]

Joel Robinson

Bottega House to make Brisbane debut with St Lucia riverfront apartment development

<a href="https://www.apartments.com.au/developers/sherpa-property-group">Sherpa Property Group</a> is advancing its affordable apartment model into Brisbane with the acquisition of another site at Cordelia Street in South Brisbane for $27 million.

Sherpa, which has a $1.7 billion pipeline across Southeast Queensland, intends to bring a cohort of apartments exclusively for first homebuyers into its proposed 186-apartment project to be built at 2 Cordelia Street.

The Sherpa model has already been incredibly well received from their Gold Coast projects, where Sherpa Group set aside a number of apartments exclusively for first homebuyers.

The new $320 million project marks Sherpa Group's second development in Brisbane, following its $255 million Symphony project, also on Cordelia Street, which is currently under construction.

Symphony will deliver 146 apartments across 28 levels, offering a mix of one, two and three-bedroom apartments. With 114 already sold, construction by <a href="https://www.apartments.com.au/builders/lps-group">LPS Group</a> is scheduled for completion in 2028.

[smartcode_project:default project_id=7574 project_image_fid=351654]

Sherpa Founder, Christie Leet, said the company was excited to be venturing into Brisbane for its second residential project.

“We’re big believers in the future of Brisbane as we lead into the 2032 Olympics and beyond,” Leet said.

“The success of Symphony has guided us into what will be our second project and we look forward to submitting our plans with council soon so we can deliver yet another quality project to the inner city residential market.

“Our Flourish model has been very well received both in Brisbane and the Gold Coast, and we’re excited to be able to offer some of these apartments again exclusively to first homebuyers to help get them into the property market.

“The model has been extraordinarily well received in our previous projects and it is something we are committed to moving forward.”

2 Cordelia Street will be designed by <a href="https://www.apartments.com.au/architects/hal-architects">HAL Architects</a> &amp; Finegrain and will include Sherpa’s signature residential amenities including pool, gym, recreation, wellness and work from home spaces.

The project will feature ground-floor commercial space, creating a vibrant amenity for residents and the surrounding community.

A development application will be lodged with Brisbane City Council in August on the code compliant site and will be launched to the market early 2027.

Sherpa acquires new site for second Brisbane apartment tower

One of North Sydney's best-known commercial buildings could become hundreds of new homes, with insurance giant Zurich Australia lodging a State Significant Development Application (SSDA) to transform 5 Blue Street into a mixed-use residential development above North Sydney Station.

Rather than demolishing the existing building and starting again, Zurich is proposing an adaptive reuse project that would convert the landmark office building into a 15-level residential development delivering 62 apartments, 86 affordable co-living dwellings, activated retail and significant upgrades to the Blue Street Plaza.

The proposal reflects a growing trend of commercial property owners repositioning ageing office assets into residential housing as Sydney grapples with housing supply shortages and changing workplace demand.

<img alt="Zurich" data-entity-type="file" data-entity-uuid="0bba7d12-06dc-4375-aad7-238c94b21ac5" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-07-22%20at%2010.42.05%E2%80%AFAM.png?VersionId=NJl5oLAEBDGuPmY3RnyliKODjMc8lvRh" />

Located directly above North Sydney Metro and train station, the 3,051 sqm site occupies one of the most strategically positioned parcels of land on Sydney's Lower North Shore.

Designed by fjcstudio, the proposal seeks to retain and adapt much of the existing structure while creating a contemporary residential address that better connects with the public domain surrounding North Sydney Station.

The application proposes two basement levels, ground floor retail, affordable co-living accommodation across the podium levels, and apartments above, while preserving and enhancing the publicly accessible Blue Street Plaza.

Rather than pursuing maximum apartment numbers, Zurich has opted for a housing mix heavily weighted towards larger owner-occupier residences.

The proposal includes 62 build-to-sell apartments comprising 12 one-bedroom, 19 two-bedroom, 29 three-bedroom apartments and two premium penthouses. It also incorporates 86 affordable co-living dwellings, which would be managed in perpetuity by a Community Housing Provider.

That balance between traditional apartments and affordable housing reflects the NSW Government's push to increase housing diversity around major transport infrastructure.

The proposal has been lodged concurrently with a rezoning application, with Zurich arguing the site is ideally positioned to support additional housing given its immediate proximity to public transport, employment and services.

"The proposal aims to respond to the housing challenges facing Sydney through the delivery of diverse housing types in a highly accessible location," the design report by fjcstudio states. It also seeks to improve pedestrian amenity through upgrades to Blue Street Plaza while creating a high-performing residential building that responds to the surrounding context.

<img alt="Zurich" data-entity-type="file" data-entity-uuid="36082e15-c636-4481-bb68-5a5f6443fe39" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-07-22%20at%2010.41.36%E2%80%AFAM.png?VersionId=5P6VD.fvmqjQfIG3TWWMRXxQWiQBjeFB" />

Rather than replacing the commercial building, fjcstudio has developed a design that works with the existing structural framework above the rail corridor, an approach that significantly reduces demolition while allowing the site to be repositioned as a mixed-use residential precinct.

The existing structural constraints have informed much of the building's design, including its relationship with Blue Street and surrounding public spaces.

The building has been designed as a slender tower rising above a clearly defined podium, with vertically expressed façades intended to reduce the perceived bulk while reinforcing North Sydney's emerging skyline.

According to fjcstudio, the architectural language responds directly to the surrounding commercial towers while maintaining a finer grain expression more closely aligned with the neighbouring Lavender Bay streetscape.

The tower incorporates articulated façade elements, landscaped podium edges and recessed upper levels to soften its appearance and improve pedestrian amenity below.

A significant component of the proposal is the revitalisation of Blue Street Plaza.

The existing public space has long served as one of the primary pedestrian connections between North Sydney Station, Greenwood Plaza and Blue Street, yet its role is expected to become even more important following the opening of Sydney Metro.

Zurich's proposal seeks to strengthen that role by improving landscaping, introducing new retail frontages, enhancing pedestrian permeability and creating more active edges throughout the day and evening.

Ground floor retail would wrap the plaza, while separate residential and co-living entries have been designed to improve wayfinding without reducing street activation.

Landscape design has been integrated throughout the podium and public realm, softening what is currently one of the most heavily urbanised parts of North Sydney.

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fjcstudio has carefully oriented apartments towards Sydney Harbour and the CBD while using privacy blades and articulated façades to minimise overlooking between neighbouring buildings.

Large framed openings along the western elevation maximise harbour outlooks, while the eastern apartments have been angled towards the south-east to improve privacy from neighbouring development.

The project forms part of the continuing transformation of North Sydney from a predominantly commercial CBD into a genuine mixed-use city centre.

Since the completion of Victoria Cross Metro Station, developers have increasingly shifted their attention towards residential projects capable of leveraging the area's unparalleled transport connectivity.

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FiveX recently lodged plans for a 61-storey, 490-apartment tower that would become one of the tallest residential buildings in North Sydney if approved.

Aqualand continues to expand its Lower North Shore presence following the completion of AURA on Walker Street and its recent St Leonards and Roseville proposals.

Developers are also progressing projects throughout Walker Street, Miller Street and the Victoria Cross precinct as demand for well-located owner-occupier apartments continues to strengthen.

First look: Zurich targets North Sydney office conversion with 148-unit proposal above Metro station

Busy developer Aqualand Prestige has formally taken the next step in its expansion across Sydney's Lower North Shore, lodging a State Significant Development Application (SSDA) for its long-held Archer Street site in Chatswood.

The application covers <a href="https://www.apartments.com.au/new-apartments/51-55-archer-street-chatswood-nsw-2067">51-55 Archer Street</a>, a 1,767 sqm amalgamated site on the eastern edge of the Chatswood CBD, where the developer is seeking approval for a 45-level mixed-use tower delivering 114 apartments, including a significant affordable housing component, alongside retail, commercial space and six basement levels of parking.

The SSDA marks the latest milestone for a project Aqualand has been quietly progressing over the past two years. The developer first secured the site for its Aqualand Prestige platform before undertaking an alternative design excellence process with PTW Architects, ultimately avoiding a formal design competition through the Housing Delivery Authority pathway.

The proposal has evolved considerably from Aqualand's original concept. The revised scheme has been designed around larger owner-occupier product, with an unusually high proportion of three and four-bedroom apartments, targeting the more affluent buyer profile, and downsizer, emerging across the North Shore.

<img alt="Archer St" data-entity-type="file" data-entity-uuid="0171204c-5811-41b5-9b09-2335d1b7c3d0" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-07-22%20at%208.52.48%E2%80%AFAM.png?VersionId=6YTuxfq.puZo7k2wbfgemcO5K3QfXYGQ" />

The 114-apartment mix comprises six studios, 27 one-bedroom apartments, 18 two-bedroom apartments, 50 three-bedroom residences and 13 four-bedroom homes. A quarter of the building will be dedicated to affordable housing, well above the mandated 15 per cent&nbsp;

PTW has structured the building vertically, with affordable housing across levels one to six, premium apartments through levels seven to 31, duplex skyhomes on klevels 32 to 43, a penthouse on level 44, and a rooftop plant level above. Six basement levels will provide resident parking and servicing.

The tower is proposed to reach approximately 154 metres, placing it among a growing collection of residential high-rises transforming Chatswood's skyline.

Rather than competing purely on height, PTW says the design has been driven by creating a slimmer tower capable of delivering significantly larger apartments.

"The primary objective of this project was to create a distinctive building that stands out from the recently approved or built structures in the Chatswood area," the design report states, noting the structural efficiency allows greater investment into apartment quality and resident amenity.

Residents would have access to more than 450 sqm of communal open space including landscaped gardens, swimming pool, rooftop entertaining areas, fitness spaces, community gardens, children's play areas and barbecue facilities.

A major focus of the design has been the public domain.

The ground plane has been opened up through landscaped terraces inspired by Willoughby's sandstone ridges, with native planting, public seating, artwork, retail activation and a series of gathering spaces intended to soften what has traditionally been a hard commercial streetscape.

The landscape strategy references Blue Gum forests once common throughout the area, while incorporating Indigenous storytelling, public art and lighting installations to strengthen the connection to Country.

Chatswood has been one of Sydney's busiest apartment markets over the past 12 months, with a steady pipeline of both new project launches and fresh development applications.

Hyecorp recently launched Celine, a 122-apartment development just along Archer Street, while Changfa and Huirong Group are progressing The Anderson, an 84-apartment project on Anderson Street.

Develotek recently secured approval for a 101-apartment tower on Pacific Highway, while Tian An LFD received the green light for Hammond Greens, its apartment development on the edge of the Chatswood Bowling Club.

Commercial property developer FiveX is also making its move into the residential market. Last month it lodged plans for a 61-storey tower with 490 apartments, which, if approved, would become one of the tallest residential buildings in Chatswood.

Read more:&nbsp;<a href="https://www.apartments.com.au/news/nsw/first-look-fivex-targets-chatswood-skyline-with-61-storey-tower-after-north-sydney-plans">First look: FiveX targets Chatswood skyline with 61-storey tower after North Sydney plans</a>

Aqualand is also expanding its development pipeline following the launch of its luxury residential brand, Aqualand Prestige. The developer has delivered a string of high-end apartment projects across Sydney's affluent suburbs over the past decade, most recently AURA by Aqualand on Walker Street in North Sydney.

[smartcode_project:default project_id=30959 project_image_fid=292863]

It has since quietly assembled its next wave of projects.

Earlier this year Aqualand launched Boronia in Roseville, a boutique 111-apartment development on Larkin Street. The project is one of the first significant apartment developments to launch in the suburb ahead of what is expected to become one of Sydney's most active new housing precincts under the NSW Government's Low and Mid-Rise Housing reforms, which allow greater density around train stations.

[smartcode_project:default project_id=152095 project_image_fid=373685]

The developer has also lodged plans for a two-tower, 413-apartment development on Herbert Street in nearby St Leonards, further strengthening its presence across the Lower North Shore.

Beyond that, Aqualand remains behind the final stage of Barangaroo, where plans will deliver a five-hectare mixed-use precinct comprising new homes, retail, hospitality and community facilities, alongside a new Metro entrance and more than two hectares of public open space, completing the Barangaroo precinct.

Read more:&nbsp;<a href="https://www.apartments.com.au/news/nsw/central-barangaroo-development-takes-big-step-with-concept-proposal-approval">Central Barangaroo development takes big step with concept proposal approval</a>

Read more:&nbsp;<a href="https://www.apartments.com.au/news/nsw/first-look-aqualand-joins-st-leonards-apartment-party">First look: Aqualand joins St Leonards apartment party</a> 
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First look: Aqualand pushes ahead with Chatswood apartment tower as SSDA lodged for Archer Street

Mass timber is becoming an increasingly popular construction material in apartment developments, but Adelaide developer <a href="https://www.apartments.com.au/developers/otello">Otello</a> is taking the approach a step further.

At its new <a href="https://www.apartments.com.au/new-apartments/flowe-bowden-18-gibson-street-bowden-sa-5007">Flowe Bowden</a> development, the exposed cross-laminated timber (CLT) structure isn't just about reducing the building's environmental footprint. It also forms the foundation of a broader wellness strategy, influencing everything from indoor air quality and natural materials to the way residents move through and experience the building.

The 115-apartment mixed-use development, designed by Melbourne-based architecture practice Fieldwork, will occupy a prominent island site opposite Bowden Village Reserve, combining one, two and three-bedroom apartments with retail and a dedicated wellness destination.

[smartcode_project:default project_id=152022 project_image_fid=375528]

Wellness isn't confined to a gym or shared resident facility at Flowe. Instead, Fieldwork embedded the concept into the building itself.

The development has been split into two residential wings connected by a naturally ventilated central breezeway, replacing traditional enclosed corridors with open-air walkways that improve natural light, encourage cross ventilation and create more opportunities for neighbourly interaction.

"Rather than treating wellness as something that only happens on the ground floor, our response integrates it throughout the building, which led us to ask what it really means to design a healthy building," Fieldwork Director Quino Holland said.

[smartcode_project:default project_id=152022 project_image_fid=375531]

The building's architecture also reflects Bowden's industrial heritage. The lower podium references the area's historic brick and sandstone buildings, while the upper levels transition to exposed CLT, allowing the timber structure to become a defining feature throughout the apartments and shared spaces.

The use of mass timber sits alongside a range of sustainability initiatives, including a fully electric, gas-free design, rooftop solar and a targeted 5 Star Green Star rating.

[smartcode_project:default project_id=152022 project_image_fid=375524]

Inside the residences, the focus remains on natural, durable materials. Blackbutt engineered timber flooring, exposed CLT ceilings, porcelain surfaces and warm timber joinery create a calming interior palette, while low-VOC finishes and responsibly sourced materials have been selected to improve indoor air quality.

Kitchens have been designed as the centrepiece of each apartment, featuring porcelain island benchtops, timber-look cabinetry and brushed steel tapware, with layouts that maximise natural light and ventilation.

[smartcode_project:default project_id=152022 project_image_fid=375530]

The more traditional interpretation of wellness comes in the form of Level Eleven, a two-storey wellness club spanning the ground floor, mezzanine and first floor.

The facility will include a gym, yoga and reformer Pilates studios, Finnish and infrared saunas, magnesium hot and cold plunge pools, and dedicated recovery spaces. Unlike many residential wellness facilities, Level Eleven will also operate commercially, allowing the broader Bowden community to access the venue while giving residents exclusive membership benefits.

The ground floor has also been designed around everyday living. A café overlooking Bowden Village Reserve will activate the street frontage, while a bike workshop with tool storage, co-working space and dog wash has been incorporated to support daily routines and encourage interaction between residents.

"Flowe brings together my two biggest passions, creating places and creating healthier lives," Otello founder Daniel Harris said.

"We wanted to create something Adelaide hasn't seen before, a genuinely healthy building, where the way you live is lifted without even trying."

Flowe is positioned directly opposite Bowden Village Reserve and within walking distance of Bowden Railway Station and the Adelaide Entertainment Centre, placing future residents just minutes from the Adelaide CBD while remaining connected to one of the city's most established urban renewal precincts.

[smartcode_project_cta:default project_id=152022]

Otello launches wellness-focused Flowe Bowden with Adelaide-first mass timber apartment design

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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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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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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