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.

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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.

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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

Darling Downs

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Larrakeyah, an expansive rural Talgai homestead in Queensland’s Darling Downs region, has been listed for sale.
Located at 111 Donovan Road, the estate is set on 175ha of fertile farmland and includes four Queenslander homes that were transported more than 175 kilometres.
<a href="https://www.realestate.com.au/property-house-qld-talgai-134533358" target="_blank">The 860 sqm Talgai residence</a> includes 23 rooms, five wood-burning fireplaces and a generously proportioned veranda.
Its offerings include seven bedrooms, three bathrooms, views to the Great Diving Range, and rows of garden beds, as well as two kitchens, one domestic and one commercial.
The commercial kitchen includes stainless steel benchtops, three refrigerators, a restaurant-quality gas stove, and a walk-in larder.
Sotheby’s International agent Michael Vettoretto is be marketing the property.
"It has the potential to be anything the owner wants," he said.
The home’s eastern wing has potential to be operated as an Airbnb-styled accommodation with a spacious living room, kitchen, bathroom, two bedrooms and a private entrance.
"The seven bedrooms mean if someone wanted to buy it with the intention of turning it into a unique homestay, they would be able to", Vettoretto said.
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Larrakeyah, luxury rural homestead in Queensland's Darling Downs listed

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Confidence in the Darling Downs region market has been boosted by winter rainfalls, says the latest rural report from valuation firm Herron Todd White.
A good winter crop and strong herd numbers leading into the summer months is expected.
The positive farming conditions follow severe drought in 2018 and 2019 that saw cattle and sheep numbers drop.
HTW director Bradley Neill writes: “2020 has provided far better farming conditions and with that has come strong appetites for rural property.”
According to the report, sale prices continue to exceed pre-sale expectations.
Numerous transactions show significant price premiums over district averages, driven by private farming families and interstate cattle and sheep producers.
The recent sale of a 22,000ha holding in the Adavale Quilpie district shows a 19 per cent increase in value over a 14-month period.
A new benchmark has been set for Brigalow and Belah dryland farming country in the Darling Downs region following the sale of the broadacre farming property, Manus.
<img src="https://www.urban.com.au/images/Screen%20Shot%202020-09-10%20at%2011.09.50%20am.png" alt="">
The Manus property.
The land recently changed hands for approximately $10 million, $3,960 per hectare.
The market is favouring sellers at the moment, who are presenting their properties to the market in conditions not seen for a number of years.
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The Darling Downs rural market prices exceed expectations: HTW Rural

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The financial viability and challenging Australian climate have forced some long-standing grazing models to evolve in the Darling Downs region, and, therefore impacted the property market, according to the latest rural report from valuation firm Herron Todd White.
A transition towards trading cattle is expected to allow greater turnover and spreading cash flow, however the report found that the recent spike in cattle prices has created some anxious caution in the market.
“Where we are also seeing some conservative buying despite ability to run higher numbers but in some cases trying to spread risk through providing agistment on surplus country,” the firm said.
The rural market in south-east Queensland is starting to witness a slight increase in the number of listings on the back of much needed rain after prolonged drought.
“We are expecting the strong demand to continue as any potential purchasers prior to the rain would view assets more favourably now that they have the ability to stock,” the firm added. At this stage the continued strong demand will likely create a firming in values in the short term until supply equalises buyer demand particularly for grazing assets.
The broadacre farming market has seen unprecedented level of buyer demand, especially towards the back end of 2019, when the drought was impacting on market confidence and, despite the rain, cash flow won’t exist until crops are harvested.
As we are seeing the country go into lock down due to the Coronavirus, this will have an impact on many business and financial markets. To a large degree, the agricultural sector has been insulated from its effects to date, however the ability to source fertilisers, chemicals, parts, labour etc will likely be affected at some stage.
Further risk will also be created by any uncertainty in the financial markets, which will ultimately have the potential to create low investor confidence.
“On the upside, agricultural investments will likely be viewed more positively by investors seeking tangible assets underpinned by the world still needing to feed itself,” the firm added.
A recent pending sale north-east of Dalby, comprising Bottle Tree softwood scrub merging to Ironbark grazing block was placed under contract following three inspections within the first week of listing and reflected circa $5,100 per hectare excluding structures.
The pending sale reflects the continued strong demand evident in the market for smaller scale assets.
Further west near Roma, the market remains strong with the sale of Iona, a 1,543 hectare holding south of Wallumbilla for $6.4 million ($4,148 per acre) to a neighbour at auction.
The full “Month-in-Review” Herron Todd White report for April can be found <a href="https://static.htw.com.au/HTW-month-in-review-April-2020-Rural.pdf" target="_blank">here.</a>
Note regarding COVID-19
 
This edition of Month In Review had its topic defined in late February with submissions from our offices collated through to late March. During this period, shifts in the social and economic landscape due to COVID-19 became increasingly dramatic, as demonstrated by the varied information provided by offices over the course of three weeks.
 
This month’s residential theme on baseline property market drivers remains a common thread, and provides an indication of what influences to monitor as the property sector recovers post-crisis.
 
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Darling Downs region marred by "anxious caution" but slowly gaining ground: HTW rural

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An increase in listings across the western Darling Downs, Maranoa and northern New South Wales regions has been observed over the past two months, according to the June Herron Todd White (HTW) residential report. 
The valuation firm looked at the influence of trade wars, pandemic outcomes and commodity prices on the rural sector, and provided an update of how rural real estate is performing across locations and industries. 
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The report notes agents are reporting that sellers are looking to capitalise on the good bodies of feed now on the ground following years of drought.
Strong re-stocker demand continues to support high cattle prices, which are underpinning grazing land values.
"The cattle market remains strong despite the country now haying-off in most areas and should the good rain forecast over the winter fail to eventuate, the body of feed currently available runs the risk of spoiling," the valuation firm said. 
In the Darling Downs region, many farming operators are holding off planting until receiving beneficial rain to provide a full moisture profile.
As supply increases, there is strong potential for a softening in market sentiment as the pool of potential buyers is absorbed, the report noted. 
The impacts of the barley tariffs and Australian meat export restrictions by the Chinese government may reduce buyer confidence, however these effects may take some time to play out.
Some recent listings in south-east and south- west Queensland include:
◗ Telco, Roma (pictured below) -939.5 hectares-to be auctioned 18 June
<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/2020/7/13/roma%202.jpg" alt="">
◗ Dunkery, Condamine-2944 hectares-to be auctioned 11 June
◗ Spring Grove, Roma-2496 hectares-to be auctioned 2 July
◗ Wattlevale, Moonie-3138 hectares-EOI
◗ Lesdale, Charleville-14,827 hectares-EOI ◗ Murilla, Meandarra-7655 hectares-EOI
◗  Nungil, Charleville-14,524 hectares–to be auctioned 17 June
◗  Tomoo, Mungallala-18,215 hectares-private treaty after being removed from auction terms
◗  Mundibulanga, Drillham-2678 hectares-EOI
◗  New Cashmere, St George-4458 hectares-EOI
◗  Greenoaks, Mitchell-5100 hectares–auction held 22 May
◗  Yambutta, Quilpie-41,083 hectares–to be auctioned 13 July
◗  Whyenbirra, Bollon (pictured below)-14,358 hectares-to be auctioned 18 June
<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/2020/7/13/bollon.jpg" alt="">
◗  Terrica aggregation, Texas-15,990 hectares-EOI
◗  Kilto, Wandoan-4042 hectares-EOI
Recent sales include:
◗  Cooraki, Surat-2128 hectares-sold $3.85 million ($1809 per hectare)
◗  Glen Lindon, Injune (pictured below)-2627 hectares-sold $3.4 million ($1294 per hectare)
<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/2020/7/13/injune.jpg" alt="">
◗  Oban, Jimbour Plains-377 hectares-sold at auction $4.705 million ($12,599 per hectare)
In summary, the market may be approaching a tipping point where the strong increase in listings may see values stabilise following a period of strong growth, the report noted. 
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Darling Downs rural market approaching the tipping point: HTW rural 

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Market activity in Darling Downs has slowed significantly over the past six to eight weeks as a result of COVID-19, according to the June Herron Todd White (HTW) residential report. 
The valuation firm suggests that in locations across the nation, the downtime delivered by isolation has spurned on owners looking to improve their assets through maintenance and upgrade. This month's HTW residential report highlights where renovations are on the rise and the price points and outcomes those markets can expect.
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The report notes many vendors withdrew their properties from the market during the initial shut down period and many selling agents are now reporting having limited stock on the market.
Selling agents are also reporting that genuine buyers are still active in the market (ie. those who had sold just prior to the COVID-19 shutdowns and need to buy elsewhere or government employees relocating) and cash buyers are beginning to emerge, seeking the opportunity for a good buy.
The restriction on open homes for several weeks resulted in selling agents receiving genuine buyer enquiry rather than sticky-beakers. Open homes have re-commenced in the past week and agents are reporting moderate attendance so far.
In the broader Darling Downs region, property managers are still reporting good demand for rental properties, the report noted. 
There is limited short-term rental accommodation homes in this region and accordingly, it has been somewhat insulated from an influx of short-term letting properties such as those listed on AirBNB coming back on to the long- term rental market.
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"Commentary has been made by both CoreLogic and realestate.com.au representatives regarding the potential for increased demand for properties within a two hour radius of capital cities after COVID-19, due to buyers seeking a lifestyle change to less crowded regional areas and with new work from home routines having been established.
"This applies to many areas within the Darling Downs region and is cause for optimism in our area," the valuation firm said. 
Renovate your way out
There has been a significant growth in property owners undertaking extensive renovation projects in recent years, possibly driven by television shows such as The Block.
In the Darling Downs region, this is particularly evident in the city of Toowoomba, the report suggested. 
"The well regarded and sought after suburb of East Toowoomba has seen a significant amount of home-owner renovations in recent times," the valuation firm said. 
A majority of properties in East Toowoomba are older, character timber dwellings and there has been a noticeable increase in the number of these properties being brought back to life. 
Some note-worthy renovations for this locality have maintained the original cottage style façade but have been extended to the rear with two level, contemporary style additions.
"There have only been a few renovations carried out in this style so far in East Toowoomba and they have generally been completed by owners of local, custom building groups as their own personal residence and then on-sold.
"Therefore, it is difficult to comment on the profitability of carrying out such an extensive renovation. In many cases, this has created a great deal of interest in those particular builders and resulted in additional renovation projects for them to complete for paying customers," the valuation firm said. 
An example provided by the valuation firm is a fully restored and renewed home in East Toowoomba. 
The four bedroom, two bathroom home at 31 Cavell Street (pictured below) was sold for $810,000 in 2019. 
The home comes with tiled bathrooms, covered alfresco area and terrace, private courtyard and rear studio space. 
The original features include high ceilings and black stained timber flooring. 
<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/2020/7/6/east%20toowoomba%20.jpg" alt="">
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Well-renovated character dwellings in East Toowoomba are generally in the $750,000 plus price bracket, depending on the size and features of the dwelling, ancillary improvements such as pools and particularly the land size.
Renovation costs are currently quite high and in many cases, the cost of completing an extensive renovation is not reflected as added value on a dollar for dollar basis, the report noted. 
Nearby suburbs such as Mount Lofty and North Toowoomba are also seeing some renovation of older timber homes, but to a lesser extent than that of East Toowoomba.
"There is significantly less home renovation being carried out in the lower price brackets and in other suburbs across Toowoomba. We also note that there is limited renovation activity in our regional areas such as Warwick, Stanthorpe, Gatton, Kingaroy and Dalby," the valuation firm said. 
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Extensive home renovation projects grow significantly in the Darling Downs region: HTW residential 

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Hot and windy days are compounding the dry conditions in the Darling Downs region, according to the latest Herron Todd White (HTW) rural report.
"In our travels, many landholders frequently ask where the driest part is observed.
"In my opinion, it would have to be in the south-east corner to south of Toowoomba through to Stanthorpe," the valuation firm said. 
Many paddocks that were once grazing now appear as fallow cultivation country due to being eaten out to bare ground.
The report notes a real concern should it rain is the potential impact of significant soil erosion due to very little ground cover - much of the country has turned to a fine powder.
The latest Bureau of Meteorology climate outlook statement for November to January indicated the chance of receiving above median rainfall for the south-east is between 25 and 30% and slightly better moving west where the Balonne Shire is 40 to 50%.
For graziers in the south-east and particularly in the Southern Downs region, where the majority of stock water requirement is provided by surface water only, the outlook is becoming desperate as dams are drying up rapidly.
With the dry seasonal conditions, it is now evident that this is impacting on market confidence with very few transactions of scale in the south-east region.
One sector of the market that has shown improvement in the liquidity is in far western Queensland and primarily those holdings benefiting from either rain or flood waters from February and March events further north.
Market activity in the Paroo, Quilpie and Barcoo Local Shires over the past eight months has increased on the back of improved seasonal conditions.
The purchasers are a combination of local and outer district landholders seeking additional country, but the major market driver is those seeking grass.
"The increase in buyer demand has created a broad firming in value trends over a relatively short period. This trend may consequently soften should further follow-up rain not be received this summer, where any firming in values observed in the short term maybe attributed to those grass purchases," the valuation firm said. 
Some recent transactions in the region include:
◗ Clifton Station, Windorah (pictured below) - a 48,800 hectare holding under contract;
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2019/11/13/clifton%20station%201.jpg" alt="">
◗ Canaway Downs, Eromanga (pictured below) - a 93,316 hectare holding selling for $8.137 million in May;
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2019/11/13/canaway%20downs.jpg" alt="">
◗ Coniston, Windorah (pictured below) - a 28,500 hectare holding under contract;
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2019/11/13/coinston.jpg" alt="">
◗ Retreat, Windorah - a142,601 hectare holding reportedly sold for $20 million including stock and equipment.
"We are also aware of a pending sale in the Cunnamulla region that will show the continuing strengthening for river frontage country, with further details to be provided when publicly available," the valuation firm said. 
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Dry seasonal conditions impacting market confidence in Darling Downs: HTW rural  

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Investors in the Darling Downs have generally been attracted to low-maintenance properties such as new or near new four-bedroom, two-bathroom, two-car detached dwellings, two-bedroom units and six-bed, four-bath duplex pairs, according to a recent Herron Todd White (HTW) residential report. 
The valuation firm took a look at rental yields across the nation. 
The report notes the majority of the Toowoomba investor market tends to operate in the sub-$400,000 segment for dwellings, sub-$300,000 for units and sub- $550,000 for duplex pairs. 
"It’s unclear whether investors are favouring strategies to seek higher yields or focusing on capital gains," the valuation firm said. 
With a slow-moving market at present, investors are possibly seeking a blend of the two strategies.
Some of the western suburbs such as Glenvale, Cotswold Hills and Cranley, and outer lying satellite suburbs including Wyreema and Cambooya have tended to be hot spots for investor activity over recent years.
This is most likely a result of englobo land availability, with the established suburbs unable to accommodate new development.
The report notes yields in these newly developed areas are moderately attractive to investors at circa 4% to 5% for houses and 5% to 6% for units and duplex pairs, however these returns may come at the expense of capital growth.
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Buyers seeking to invest in the Toowoomba area could consider purchasing in older suburbs close to the CBD such as Centenary Heights, Darling Heights, Kearneys Spring, Newtown, North and South Toowoomba. 
These areas still generate acceptable yields and arguably have greater potential for capital growth due to their proximity to the CBD and services.
 A recent trend within the established suburbs in areas close to boarding schools, hospitals or the CBD is short term letting utilising platforms such as Airbnb and Booking.com. 
"We have witnessed yields up to and exceeding 10% in select cases, however this comes with intensive management, including managing bookings, financial management and very regular and intensive cleaning," the valuation firm said. 
The smaller towns throughout the broader Darling Downs region can show higher yields anywhere from 5% to 10%. 
Once again, these higher returns come with a higher degree of capital growth risk.
"Investor interest in Toowoomba and surrounding areas has significantly slowed over the past two years resulting in a reduction in sale volumes, however vacancy rates have declined to sub-2% and rental rates have shown moderate growth. This may lead to an increase in investor activity throughout the Toowoomba region." 
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Darling Downs/Toowoomba investors attracted to low-maintenance properties: HTW residential 

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The Federal Government’s proposed buy back of underground water within the Upper Condamine Alluviums may now result in the creation of a new peak in the cycle of the market, according to the latest Herron Todd White (HTW) rural report. 
Owners of groundwater now have the opportunity to sell part of their entitlements back to the Government under the “Restoring the Balance in the Murray-Darling basin” program. This is ground water that they have not historically been able to access and are unlikely to ever be able to access going forward. The end result will be a win for the farmers and this will create three options for them:
• Payback Debt;
• Further develop existing on farm infrastructure; or
• Further capital acquisitions.
The Government Proposal
Under the “Restoring the Balance in the Murray- Darling Basin Purchasing Program”, the Australian Government has committed $3.1 billion to purchase water for environmental purposes. This program is part of the Sustainable Rural Water Use and Infrastructure Program. On 2 June 2014, the Australian Government released the Water Recovery Strategy for the Murray-Darling Basin. The strategy outlines the Government’s approach to recovering water for the environment in the Murray-Darling Basin, whilst maximising positive outcomes for farmers and communities. This includes prioritising water recovery through infrastructure investment over water purchasing which is limited to 1,500Gl.
It is quite obvious that to date the Government’s approach was not working and a new way had to be tried as less than 8% of the target SDL has been achieved with the majority of this coming from the Central Condamine Alluvium.
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Further Initiations
On 19 April 2018, the Federal Government subsequently opened a new tender round to voluntarily acquire groundwater back from farmers within the Upper Condamine Alluviums. They subsequently undertook a new approach by announcing the maximum price at which they are prepared to acquire water. This differs from previous tenders whereby no such price announcements were made.
If we look at the Central Condamine Alluvium (CCA) which involves the bulk of the water buy back volumes (currently 86,066Ml of Nominal Entitlement which will be reduced to a maximum of 37,409Ml or 43.5% of the current nominal volume), we understand that all licence holders will be initially geared down to the equivalent of 50% of their Nominal Allocations with that then reduced by a further 13% in order to achieve the target of 37,409Ml.
Within the CCA, there are multiple sub areas and currently the long term average Announced Allocations of the respective Nominal Allocations are included here.
This will ultimately mean therefore that all holders of groundwater licences within the CCA (apart from those within Sub Area 2 (3) and Transitional Zone 3 (3) which are already on 50% restrictions) will potentially lose a further 20% of their allocations over time so as to allow the government to meet its target.
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Variation to Previous Tenders
However this tender now appears to differ from previous tenders or individual private sales of groundwater in that the Federal Government will effectively buy the unusable portion of a right.
For example, if we assume that a groundwater licence holder within Sub Area 2 (3) had a nominal allocation of 1,000Ml, historically they have only been able to access 50% of this right. If they decided to sell a 50% share, they would be left with 500Ml, but would still only be able to access 50% of that remaining right or 250Ml going forward.
Now, subsequent to the announcement of this tender, it appears the farmer will be able to utilise the full 100% of the remaining 500Ml and will receive a maximum price of $1,950 per Ml for the 500Ml they sell to the Federal Government. Their position going forward will remain unchanged in that they will continue to gain access to 500Ml of groundwater per annum but will potentially have a one off windfall of $975,000 (500Ml @ $1,950/Ml).
In relation to the other sub areas however, where announced allocations are higher than 50%, the position will be slightly different. For example, within Sub Area 2 with an announced allocation of 70%, a farmer with a nominal allocation of 1,000Ml has historically been able to access 700Ml only. Previously if they sold 50% of that right, they would only continue to be able to access up to 70% of the remaining 500Ml or 350Ml.
Now if they sold 50% of their right, they will be paid $2,000Ml for the 500Ml, but the net effect of the sale will see their water right reduce from 700Ml to 500Ml, a loss of 200Ml which they can no longer access going forward. They will still have a one off windfall, but not to the same extent.
The end result will be that over the next period as this voluntary tender progresses, many farmers will receive a one off cash injection if they decide to sell part of their rights to the Federal Government. This will provide a cash injection into the market which could see the market continue on its upward projection somewhat longer than it may have otherwise done.
Peak of the Market
In summary, we have seen exceptional growth in the value of quality farming country over the past two years or so on both the Bongeen and Jimbour Plains. Now whilst there is a level of discussion within the market place broadly that we may be approaching the peak of this market cycle, it is perhaps too early to call this within this location. Given the nature of the underlying lands, the fact that “they just don’t make this country anymore” and the potential for the Federal Government to inject a one off financial boost into the local market through the buyback of groundwater, there still may be further potential for growth to occur within this particular market sector, notwithstanding the current dry conditions and the poor winter crop outlook.
A recent sale is a Rosenthal Heights lifestyle block which was traded for $960,000 (pictured below).
Located just 7.5 kilometres from Warwick's CBD, <a href="https://www.realestate.com.au/sold/property-lifestyle-qld-rosenthal+heights-7884590" target="_blank">184 Warner Street </a>is elevated slopping land with views.
The home features four bedrooms, lounge, dining and family room, kitchen and plenty of storage space. 
It is operating piggery with a contract at $5,543 plus GST per month.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2018/7/12/rosenthal%20heights%202.jpg" alt="">
Another example is a Clifton property, Avonlea, which was sold for $650,000 (pictured below).
It was formerly a horse stud and spelling farm on the doorstep of the renowned Pilton Valley.
<a href="https://www.realestate.com.au/sold/property-lifestyle-qld-clifton-7943370" target="_blank">Located at 4843 Clifton Gatton Road</a>, it comprises of 100 acres of well established thriving natural pastures and 30 acres under cultivation. 
Other features include three bay hay sheds, machinery shed, large day yards, and water supply to all paddocks except cultivation.  
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2018/7/12/clifton%20.jpg" alt=""> 
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Government proposal may trigger new peak in Darling Downs rural property: HTW

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Glenbank, a 236-hectare property on Darling Downs has sold for $2.52 million to a local businessman, equating to about $10,640 per hectare.
The prior nearest price for similar size and quality property in the Brookstead area was about $9880 per hectare, Ray White noted.
Ray White Rural Pittsworth's James Croft said there was "exceptional competition" <a href="https://www.realestate.com.au/sold/property-mixed+farming-qld-brookstead-7963674" target="_blank">at the auction</a> after 20 inquiries, 12 inspections and 11 registered bidders.
"The bidding was frenzied," Croft told Fairfax Media.
It was fuelled by commodity prices with sorghum at $400 a tonne and cotton at $600 a bale.
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Glenbank on the Darling Downs sells for $2.52 million

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Southern Queensland's Darling Downs region has seen an increase in auction listings in late June to mid July following the winter plantings, according to analyst firm Herron Todd White.
HTW said due to the local region now entering the mid-season selling period a lull in the market will pop up albeit normally on a temporary basis.
"Given this, we do note that there has been an increase in listings in the region, with some set down for auction in late June to mid-July after winter plantings have occurred," HTW said.
"It will only be at that point that we will really be able to determine if the broader market has the appetite for further investment going forward.
"Testing this appetite, within the highly regarded salad bowl region to the south east of Cunnamulla, we note that the holdings of Clover Downs (125,288 hectares) and Noorama (105,000 hectares) together with an aggregation of another eight holdings comprising a total area of 127,192 hectares have all recently come onto the market under expressions of interest campaigns.
"All three are managed by different agencies and it will be interesting to see the individual (or collective) approaches taken by those relevant agencies in order to achieve a sale within a reasonable period of time.
"Together with a further two nearby smaller holdings (Camden comprising 32,448 hectares adjoining Clover Downs and Robina Downs to the south comprising 13,780 hectares) the total amount of country now on the market in the region is in excess of 400,000 hectares or one million acres.
"There is the potential that a new corporate could see an opportunity to secure a large chunk of some of the best country in the region. Whether there is the appetite for such an approach is yet to be seen.
"The wool industry has remained quite resilient, however offsetting this is the ongoing problem of kangaroo and wild dog build ups.
"As valuers, we always refer to the depth of the market and the impacts on the value of a particular holding or group of holdings within a region.
"The scenario that has now emerged involving such a volume of country in a relatively small geographical region will surely test that aspect.
"A large number of holdings on the market in a de ned region would normally be expected to raise concerns around industry issues and why there is such an exodus from the region. However two of the major holdings are owned by corporates that for varying reasons have decided to sell their holdings and given this is pure coincidence, we have perhaps witnessed the development of the perfect storm."
A 3349ha Freehold property at nearby Roma, 1444 Glen Arden Road, (above) recently sold, price undisclosed. It features two 4 bedroom homesteads with sheds, workshops and silos as well as bores and dams.
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