<a href="https://www.apartments.com.au/developments/broadbeach-qld-4218">Broadbeach</a> offers plenty of reasons to live vertically, but moving from a substantial family home into an apartment can expose the compromises of high-density living. Privacy, room for guests and usable living space tend to matter more when an apartment is intended as a permanent home rather than an occasional coastal base.

A typical residential floor at <a href="https://www.apartments.com.au/new-apartments/the-eveleigh-broadbeach-7-9-surf-parade-broadbeach-qld-4218">The Eveleigh</a>, on Surf Parade,&nbsp;contains just four apartments. The 94-residence development by <a href="https://www.apartments.com.au/developers/hirsch-faigen">Hirsch &amp; Faigen</a> is predominantly made up of expansive three-bedroom homes, with a limited collection of half-floor penthouses above.

Across the apartment floors, <a href="https://www.apartments.com.au/architects/rothelowman">Rothelowman</a> has used the relatively limited number of residences to give each home greater access to natural light and outlook. Living spaces extend towards full-height glazing, while a series of bay windows frame selected views across the Pacific Ocean, city and hinterland rather than treating the building edge as a continuous wall of glass.

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[smartcode_project:default project_id=149670 project_image_fid=360965]

“The apartment floors deliver a collection of homes that embrace controlled outlook via a series of bay windows deliberately framing moments of view,” Rothelowman Director Kim Lowman said.

From outside, those projecting forms contribute to the tower’s faceted profile. Strong horizontal and vertical elements establish its proportions, while the changing position of the sun alters the light, shadow and reflection across the façade throughout the day.

The same attention moves inside the apartments, where the material palette combines warm timber, natural stone, metallic detailing and softer curved forms. Kitchens sit within the main living zone, with stone island benches, integrated joinery and European appliances, before the living areas extend towards the glazing and the outlook.

&nbsp;

[smartcode_project:default project_id=149670 project_image_fid=360981]

Three genuine bedrooms provide room to accommodate family and guests, while two secure car spaces and storage address some of the practical considerations that can become more noticeable when moving from a larger home. Feedback from the display suite has centred on the warmth and restraint of the interiors, with buyers commenting that the residences feel like homes rather than conventional coastal apartments.

A limited collection of half-floor penthouses occupies the upper levels, increasing the scale of the living spaces and adding private balconies and elevated finishes. From this position, the outlook extends between the ocean and hinterland.

Outside the private residences, The Eveleigh separates its shared spaces between the podium and rooftop. The podium is centred on wellness, with subtropical landscaping surrounding a swimming pool and pool terrace, yoga garden, private gymnasium, sauna and hot and cold plunge facilities. Landscaped retreats and pavilions provide additional places to sit away from the main recreation areas.

&nbsp;

[smartcode_project:default project_id=149670 project_image_fid=360966]

Higher in the building, a rooftop pavilion and private dining suite sit alongside resident lounge, barbecue and outdoor dining areas, opening towards panoramic views across the ocean, city and hinterland.

“Buyers are no longer just looking for an apartment, but a lifestyle where they can relax, reset, and enjoy a balanced way of living,” Hirsch &amp; Faigen Director of Sales Matt George said.

Interest to date has come from established owner-occupiers and interstate lifestyle purchasers, including buyers planning a future move to the Gold Coast. Many are coming from larger homes and want to reduce ongoing maintenance without giving up space for family and guests, privacy, two car spaces or the ability to entertain at home.

&nbsp;

[smartcode_project:default project_id=149670 project_image_fid=360969]

Much of that daily life can also take place beyond the building without requiring a drive. Kurrawa Beach and Pratten Park are an easy walk from Surf Parade, while Pacific Fair, Oracle Boulevard, The Oasis, restaurants, cafés, entertainment and public transport are also within walking distance.

The Eveleigh is Hirsch &amp; Faigen's fourth Gold Coast development since entering the market in 2021, following The Hemingway at Palm Beach, The Emerson at Kirra and Yves at Mermaid Beach. Each of the preceding projects sold out before completion.

“Broadbeach had been on our radar throughout our time operating on the Gold Coast,” the developer said. “Following our projects in Palm Beach, Kirra and Mermaid Beach, Broadbeach represented the natural next step for the business.”

The Surf Parade site brought together proximity to the beach, protected coastal outlooks and walkability to dining, shopping and recreation. Hirsch &amp; Faigen also identified the street as an emerging premium residential address, with enough separation from Broadbeach's busier destinations to retain a quieter environment at home.

The Eveleigh is now under construction by Maxcon, with completion forecast for mid-2028. Three-bedroom residences are currently available from $2.87 million.

[smartcode_project_cta:default project_id=149670]

Joel Robinson

The Eveleigh brings house-like apartments to Broadbeach

A long-stalled Campbelltown development site is back in play, with new plans for 139 apartments set to supersede a mixed-use scheme approved almost a decade ago but never built.

The new proposal for 28 Cordeaux Street would deliver 116 market and 23 affordable apartments in a part 14-storey building, bringing a substantial new project into a Campbelltown market where new apartment supply remains limited.

Plans have been filed over the 3,092 sqm corner site at Moore-Oxley Street, around 600 metres from Campbelltown Railway Station and the city-centre retail core.

The site already carries a mixed-use residential approval dating to 2016. Doroch Architects has now been engaged on a larger replacement scheme, which is progressing as a State Significant Development Application following a Housing Delivery Authority determination in August 2025.

The apartment mix comprises 39 one-bedroom, 72 two-bedroom and 28 three-bedroom residences. Two-bedroom apartments make up just over half of the project, while three-bedroom homes account for 20 per cent.

<img alt="First look: New 139-apartment plans revive long-stalled Campbelltown city centre site" data-entity-type="file" data-entity-uuid="136dd5b9-3791-4da6-9e31-76f533f5b4de" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Campbelltown%20da2.png?VersionId=LgOSy9nwf5u.MGswBBwaGGxuX8QpHSl_" />

Of the 139 apartments, 23 will be delivered as affordable housing under the in-fill affordable housing provisions of the Housing SEPP. The affordable component represents 15 per cent of the residential gross floor area and will be managed by a registered Community Housing Provider.

Doroch has sought to break the scale of the building into two distinct elements, with a masonry podium of around four storeys establishing the street edge before the residential tower steps back above.

The corner position has shaped that approach. Cordeaux Street faces toward the commercial and civic centre, while Moore-Oxley Street leads into the lower-scale residential neighbourhood to the south, and the design verification report describes the site as "bridging the commercial core to the north and established residential areas to the south."

The podium will be expressed predominantly in face brick, while the upper levels shift to brushed and grooved concrete cladding with darker metal detailing. Recessed sections, deep balcony edges and landscaping break down the upper form, with an approximately 11.8-metre setback to the northern boundary addressing the adjoining St Peters Anglican School.

<img alt="First look: New 139-apartment plans revive long-stalled Campbelltown city centre site" data-entity-type="file" data-entity-uuid="c8b3d2d3-c561-4bfc-a5d9-a68c0c10dac1" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Campbelltown%20da1.png?VersionId=AeAEyJU02Gk2k5noUj2StziCvdQ7fW4B" />

Campbelltown has been starved of new residential developments in the last decade.

The only other notable development set to come to market this year is ALAND's Queen Square, a mixed-use precinct on over two hectares that will comprise apartments above a vibrant ground-level retail and hospitality dining precinct.

First look: New 139-apartment plans revive long-stalled Campbelltown city centre site

First Look: Sherlock Construction pitches apartments for low-rise Deception Bay

Queensland builder-developer MAYD has revealed the first look at its major North Kirra beachfront development, lodging amended plans that reduce the number of apartments and increase the proportion of larger residences.

The project is planned across a substantial 4,742 sqm amalgamated site spanning seven lots at <a href="https://www.apartments.com.au/new-apartments/2-6-pacific-parade-bilinga-qld-4225">2-6 Pacific Parade</a> and 27-33 Golden Four Drive in Bilin​ga, directly opposite Nor​th Kirra Beach.

<a href="https://www.apartments.com.au/developers/mayd-group">MAYD</a> secured the site for $32.5 million in 2025, in what was one of the Gold Coast's largest property transactions of the year.

The development will be delivered across two stages, with the first stage carrying an estimated gross realisation value of around $360 million.

The latest amendments seek to reduce the overall apartment count and shift the project further toward the owner-occupier market, with larger residences designed for buyers wanting considerably more space than traditionally offered in a beachfront apartment.

The residential mix will include townhomes, oversized two-bedroom apartments, substantial three-bedroom residences and four-bedroom homes.

MAYD has appointed Cera Stribley to lead the architecture and interiors, with the Melbourne-based design practice drawing on the beachfront setting through a series of ocean-facing terraces and heavily landscaped balconies.

Strong horizontal forms and curved balconies will define the exterior, with subtropical landscaping integrated throughout the building to soften the built form and increase the connection between the residences and the beachfront.

The project will also include an extensive collection of resident wellness and lifestyle facilities, continuing the broader shift across the Gold Coast's luxury apartment market toward larger homes supported by resort-style amenity.

<img alt="MAYD" data-entity-type="file" data-entity-uuid="d1bcbb05-e659-4b47-8bd4-1e595315e2ad" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-27%20at%202.05.03%E2%80%AFPM.png?VersionId=jj0XEud1X1DuLt7_KyElhjMdZGOXmLHP" />

MAYD Founder Todd Mould said North Kirra was increasingly appealing to buyers attracted to the more established, lower-density character of the southern Gold Coast.

"North Kirra presents one of the most compelling luxury residential opportunities currently emerging in Australia, combining absolute beachfront with the character and authenticity that buyers are increasingly seeking, and the same sense of tight-knit community that defined Burleigh and Currumbin perhaps 10 or 15 years ago," Mould said.

"With Gold Coast Airport on its doorstep, it also offers a level of accessibility that broadens its appeal across almost every market demographic."

The project comes as the southern Gold Coast continues to attract an increasing share of high-end apartment development and buyer activity.

Kirra in particular has emerged as one of the region's more tightly held beachfront markets, with its relatively low-density character, established surf and hospitality scene and proximity to Gold Coast Airport differentiating it from the higher-density markets further north.

Mould said those characteristics had informed the approach MAYD and Cera Stribley had taken to the project.

"We've worked closely with Cera Stribley to create a vision that is deeply connected to its surroundings," he said.

"Inspired by the coastline itself, the architecture has been shaped around space, privacy and resort-style living, creating a collection of homes that reflects the next generation of luxury on the southern Gold Coast."

MOTIV Managing Director Carly Cottam, who has been appointed to market the project, said buyer attention had continued to move south along the Gold Coast.

"Purchasers who may once have defaulted to Broadbeach, Main Beach or Surfers Paradise are increasingly recognising the value of a genuine beachfront location that offers lower density, strong amenity and a more established sense of community," Cottam said.

"Kirra has a powerful combination of growing demand and genuine scarcity. Beachfront supply is inherently constrained, the area remains relatively low density, and buyers are increasingly placing a premium on locations that feel established, uncrowded and authentic rather than heavily developed."

Cottam said the proximity to Gold Coast Airport was also proving increasingly important for interstate and second-home buyers.

"Being minutes from Gold Coast Airport makes it particularly compelling for interstate buyers, frequent travellers and second-home purchasers who can access an authentic coastal lifestyle almost immediately after stepping off a flight."

The acquisition takes MAYD's active development portfolio to more than $500 million, with the North Kirra project representing one of its largest undertakings to date.

MAYD is targeting an early 2027 launch.

First look at MAYD's North Kirra mixed-use precinct

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Castle Hill, the longtime hub of the Hills District, has been one of the major beneficiaries of Sydney's Metro expansion, with improved connectivity helping drive continued population growth, development and buyer demand across the Hills District.

But despite that growth, the suburb has seen relatively few major new apartment projects brought to market over the past 18 months.

Hills District developer Reve Group is looking to fill that gap with <a href="https://www.apartments.com.au/new-apartments/nova-r-ve-castle-hill-2-garthowen-crescent-castle-hill-nsw-2154">Nova Rêve</a>, a major new mixed-use precinct on the corner of Garthowen Crescent and Old Castle Hill Road, a short walk from Castle Hill Metro Station and Castle Towers.

[smartcode_project:default project_id=152737 project_image_fid=377679]

The project will comprise three residential towers alongside a hotel, restaurants, cafes and a skybar, more than 1,600 sqm of ground-floor retail and almost an acre of landscaped gardens.

It represents the largest project undertaken by Reve Group, the development arm of the Kassis family, which has been building across the Hills District for more than 30 years through Kassis Homes.

[smartcode_project:default project_id=152737 project_image_fid=377675]

Nova Rêve also represents a significant step up from the family's first apartment development, Grand Rêve, which was delivered nearby on Garthowen Crescent.

Grand Rêve introduced larger, house-like apartment layouts and premium inclusions including Wolf and Sub-Zero appliances to the Castle Hill market.

Nova Rêve takes that approach to a precinct scale, combining the residential component with hospitality, retail and substantial public and resident landscaping.

[smartcode_project:default project_id=152737 project_image_fid=377685]

Reve Group Managing Director Sam Kassis said the project reflected the family's three decades of building in the Hills, which has evolved from trophy homes on quarter-acre blocks to larger-scale apartment development.

"Grand Rêve was our first apartment project here and it showed us what this pocket of Castle Hill could be. Nova Rêve is the refinement of that idea: not just apartments, but a place the whole suburb can use," Kassis said.

A key part of that approach is the hotel, which has been designed to operate as an amenity for the wider Castle Hill community rather than solely hotel guests.

It will include restaurants, cafes, skybars and all-day dining, alongside conference and event facilities catering to business functions, community groups and private events.

At ground level, more than 1,600 sqm of shops and cafes will open onto the surrounding streets and landscaped areas.

Almost an acre of gardens designed by Land and Form Studios will run through the precinct, incorporating pathways, seating, barbecue areas and children's play spaces.

[smartcode_project:default project_id=152737 project_image_fid=377680]

Reve Group's Romio Georges said creating an active ground plane had been central to the planning of Nova Rêve.

"There are gardens with pathways, barbecues, seating and play areas, shops and cafes opening onto the street, and a hotel with restaurants and a skybar that anyone in Castle Hill can walk into," Georges said.

The project's elevated position on one of Sydney's highest ridgelines will also provide apartments with outlooks toward the Sydney skyline, surrounding parkland and the Blue Mountains.

More than 80 per cent of the apartments will occupy corner positions, with Turner responsible for both the architecture and interiors.

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</main>

Nova Rêve arrives as Reve Group bets on Castle Hill's next growth phase

Commercial Sale

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A showroom complex in Hobart CBD area recently found a customer after being on the market for 792 days (CoreLogic RP Data). The deal was brokered by Raine &amp; Horne.
The corner property at <a href="https://www.rhcommercial.com.au/properties/126-126c-bathurst-street-hobart-7000-tasmania" target="_blank">126-126C Bathurst Street</a> was listed for $1,300,000 plus GST, but the final sale amount wasn’t disclosed, according to RP Data.
The property has a gross building area of nearly 659 sqm and features showrooms on the ground and first floors along with storage, office, workshop and garage areas.
Offered with vacant possession, the property has potential for multiple tenancies or further development subject to Council approval.
The selling agent was Leslie Simpson.
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jonathanchancellor-7SQnKwU6yx

Corner showroom in Hobart CBD sold by Raine & Horne

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The Woolworths in Middle Brighton has sold for $32.08 million, billed as the highest price paid for a passive supermarket investment in Australia.
CBRE had over 280 enquiries for the supermarket, with around a third of the buying interest coming from offshore.
It went to a local private investor who will see a 3.77 percent yield from the investment which is leased by Woolworths until 2040.
The buyer, a prominent Melbourne family, beat off 15 other formal offers CBRE received.
Woolworths however do have the right of refusal to match the offer and acquire the property, which is outlined in their lease agreement.
"Woolworths has a leasehold interest in this site only and is not in a position to speak in relation to the sale process," a Woolworths spokesperson said.
CBRE's Justin Dowers, who negotiated the Woolworths sale with Mark Wizel and Kevin Tong, said there's a recipe for a highly secure retail market.
''When you couple [the] strongest population growth in the country (1.7 percent) and highest consumer sentiment levels (105.8), you have a recipe for a highly secure retail investment.
"More and more population will increase retail trade, leading to improved security for these retail leased investments," he added.
The recently refurbished 3307 sqm supermarket on Brighton's popular Church Street hadn't traded since 1985 when Sestons Pty Ltd, controlled by Laurence Teh, paid $3 million for the property.
It stands on a 4700 sqm site with 85 parking spaces on title.
The sale follows a string of Woolworths sales across Australia this year, the most recent the new site in Sydney's Potts Point which was snapped up by New Zealand investor Brain Cook.
The last four:
Potts Point - New South Wales
Auckland-based investor Brian Cook paid $16.3 million for the retail complex in Potts Point's new Omnia development. The 1,190 sqm space is pre-leased by Woolworths for the next 15 years.
Logan City - Queensland
This was a Woolworth's anchored shopping centre, which went for $38.25 million when bought by an Asian investor. The deal translated to a net yield of six percent. Woolworths, which brings in 55 percent of the centre's revenue, is joined by 13 retail tenancies.
Burnie - Tasmania
The recently refurbished 4000 sqm supermarket on 10,978 sqm sold for $18.1 million to a Melbourne investor. The site is leased by Woolowrths until 2031 with a 6.8 percent yield.
Bella Vista - New South Wales
This was in fact Woolworths HQ, which sold to a Korean investor for $336.45 million in January. The site is 100 percent leased to Woolworths until 2031 and represents a yield of 6.07 percent.
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Woolies supermarket buyers - the last four sales as Woolworths Middle Brighton sells on 3.77 percent yield

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The NSW Griffith-based winemaker Casella Family Brands has secured a McLaren Vale vineyard.
Their South Australia wine country purchase cost around $12.4 million.
It secured about 162ha across the Hawthorn Ridge and Reedy Creek vineyards, that were part-owned by interests associated with Paul Buttery.
Knight Frank negotiated the sale.
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jchancellor-FAypfDUnLy

Casella buys McLaren Vale vineyard

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The Auckland-based Cook Property Group has emerged as the buyer of the Beach House Lane retail centre on Sydney's Bondi Beach.
It sold for $31.3 million, on a passing yield of 5.9 percent.
The 1166-square-metre fully-leased retail arcade runs from Campbell Parade to Curlewis Street, adjacent to Hotel Bondi.
It was reported as sold last month by Property Observer.
Cook Property, founded by commercial property investor Ben Cook, was also the buyer of the 14,760-square-metre Bunnings warehouse in Sydney's Eastgardens for $56 million last year.
Last year, Mr Cook bought one of Auckland's most expensive homes, when he paid $NZ24 million ($22.4 million) for a three-level, six-bedroom house in Herne Bay.
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Kiwis buy Bondi Beach retail

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A freehold property in Melbourne’s inner suburb of Windsor has been snapped up by a Melbourne-based investor for $3.94 million at auction.
The 7 Duke Street property was offered to the market for the first time in 60 years and the purchase price exceeded the reserve by more than $200,000.
Zoned Commercial 1, the property comprises a two-level, 480 square metre building on a 377 sqm site. The purchase price reflected a land rate of $10,464 per square metre.
Selling agent Teska Carson’s Matthew Feld said the fact that the property had not been on the market for 60 years reflected “the tightly held nature of the local market and the strong result’’. 
It is close to the CBD and a stone’s throw from the bayside precinct of St Kilda.
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prateek24-ezbwHMbNAk

Building in Melbourne's Windsor sold for $3.94 million in first deal in 60 years

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A standalone retail and residential property in Melbourne’s north-west suburb of Kensington has fetched $1.225 million at auction.
The 513 Macaulay Road asset sold $125,000 over the vendor’s reserve to a Melbourne-based investor.
Selling agent, Teska Carson’s Anthony Choi said the “property was located in a tightly held strip with a low vacancy rate in an area earmarked for intensive urban revitalisation under the Arden-Macaulay structure plan”.
Located in the retail strip between Bellair and Epsom streets, the property comprises a solid brick shop and dwelling of 136 square metres on a 103 square metre site zoned Commercial 1. The retail and upstairs components have the potential to be accessed separately, thus the opportunity for separate tenancies.
Evans said Kensington was a sought-after suburb with demand driving a gentrification process.
“The property is well placed to benefit from the inevitable growth in capital values as demand for city fringe property increases,’’ he said.
The property was sold with vacant possession by a private investor.
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Shop and dwelling in Melbourne's Kensington fetches $1.225 million at auction

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A caveat is blocking the sale of the $100 million Gold Coast Sheraton Mirage resort.
The Queensland government has issued a caveat temporarily blocking the sale to help class action lawyers seeking to take control of it in the interests of Indian investors.
In 2009, before its collapse, India’s $10 billion failed Pearls Ponzi scheme brought more than $100 million of the scheme’s money to Australia, buying the Sheraton Mirage
Barrister Niall Coburn, a former investigator with the Australian Securities &amp; Investments Commission who is running the class action with Shine Lawyers, told The Australian the Queensland government registrar of titles had lodged a cav­eat.
The Federal Court in Brisbane will decide this week whether to grant a longer-term caveat over the properties.
A 92-page originating applic­ation filed by the class action lawyers details some of the devastation wrought by the Pearls scheme and its founder, Nirmal Singh Bhangoo, now in an Indian jail.
Pearls, was spruiked in India by Australian cricketer Brett Lee, who was paid $300,000 for his services.
It promised investors huge ­returns if they invested in land parcels across India.
In 2014 Pearls Group, the New Delhi based property group was accused of allegedly duping Indian investors by promising agriculture land in a so-called $10 billion ponzi scheme.
The India CBI registered a case of criminal conspiracy and cheating under Sections 120B and 420 of IPC against Pearls Group managing director Nirmal Singh Bhangoo, his two companies Pearls Agrotech Corporation Limited (PACL) and Pearls Golden Forest Limited (PGFL) and their director Sukhdev Singh.
The CBI claimed the documents recovered by it during searches at the premises of Delhi-based business groups PACL and PGF show they allegedly used ponzi scheme to cheat nearly five crore investors of Rs 45,0000 crore.
It is an associated New Delhi-based Pearls Group that paid $62 million for the Sheraton Mirage in 2009. It was the Christopher Skase-built resort on Queensland's Gold Coast. 
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Gold Coast Sheraton Mirage caveat stops Pearls Group sale

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An industrial warehouse in Melbourne’s Coburg North has sold prior to auction for $1,725,000 at a yield of 8.34 percent. 
The warehouse at 10-12 Hocking Street is leased to Entouragefoods Pty Ltd for four years from August 2015 with another term of four years to follow and 3% annual increases. 
It provides a rental return of $144,000 pa plus GST and outgoings. 
The warehouse has a land area of 1,511 sqm and floor area of 1,893 sqm. The zoning is Industrial 1.
The selling agents were John Nockles and Seamus Bolst of CVA Property Consultants.
The property is surrounded by main arterials including Sydney Road/Hume Highway and Bell Street. 
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Warehouse in Melbourne's Coburg North sells prior to auction 

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Property group Charter Hall’s industrial fund has acquired an industrial site in Brisbane with a pre-lease in place for nearly $24 million from Cadence Property Group.
Cadence has secured a 10-year pre-lease with Agility Project Logistics and is building a warehouse covering 5,930 sqm at the site, which will complement the existing 5,222 sqm warehouse and office. Construction is due for completion in 2017.
The 2.485 hectare parcel at Eagle Farm Road in Brisbane’s Pinkenba was sold as a fund through to the $1.9 billion Charter Hall Prime Industrial Fund (CPIF).
The sale was negotiated by CBRE’s Ed Bull and Chris O’Brien.
Cadence director Charlie Buxton said the deal came on the back of a growing track record in the delivery of industrial and logistics facilities in Victoria. 
“This acquisition remains in line with the group’s focus on core locations, generic facilities and long term leases, whilst also providing the opportunity to welcome a new global customer to the portfolio,” said Paul Ford, Charter Hall head of Industrial.
The suburb of Pinkenba adjoins the Brisbane Airport and provides direct access to the Gateway Motorway.
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Cadence expands footprint with $24 million Brisbane industrial sale to Charter Hall

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Aged care not-for-profit group Benetas has sold its redundant East Brighton respite facility to another aged care provider for $19 million, some 75 percent over the reserve price, in a deal brokered by Savills.
The ageing baby boomer population is driving the market for aged care facilities and properties, according to Savills’ Clinton Baxter, who managed the expressions of interest campaign with Julian Heatherich and Jesse Radisich. 
The 68-76 Union Street property is close to the East Brighton retail precinct and the Nepean Highway, and walking distance to parks and recreation facilities. 
It comprises a 5,751 square metre site, zoned Neighbourhood Residential.
Baxter said 10 offers were received and competition between three leading aged care providers pushed the price well beyond the vendor’s expectations and achieved a record land sale rate of $3300 a square metre.
"The most significant driver has been the growing demand from the cashed up Baby Boomer generation and that is only going to continue as more of that generation reach retirement and beyond,’’ Baxter said.
Heatherich said the latest research from Leading Age Services Australia suggested 60,000 more residential care places were needed, along with infrastructure investment of $30 billion by 2025.
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