<p>Brisbane-based builder-developer <a href="https://www.apartments.com.au/developers/bpg-developments">BPG Developments</a> has secured approval for its $250 million Newstead apartment tower.</p>

<p>The building, at <a href="https://www.apartments.com.au/new-apartments/16-22-maud-street-newstead-qld-4006">16-22 Maud Street</a>, will have 103 apartments across the 15-level building which will be crowned with a rooftop wellness facilities.</p>

<p>Residents will range from expansive two-bedroom residences, through to several penthouses on level 15. There will be 1,380 sqm&nbsp;dedicated to wellness-inspired amenities including shaded outdoor dining nooks, a fire pit, barbecue area, sunset lounge, gym, yoga deck, magnesium lap pool, sun deck, a sauna, steam room, and cold plunge pool.</p>

<p>BPG put together the 2,430 sqm super-site combines three separate titles – a vacant warehouse, an electrical &nbsp;wholesaler and an industrial shed, which were acquired in two separate transactions over a 12 month period. &nbsp;</p>

<p><img alt="BPG Developments secures development approval for $250 million Newstead project" data-entity-type="file" data-entity-uuid="d007d4fb-9c44-4e54-b79e-50b68711ebbd" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Final%2012_Podium%20Plaza%20View_r.jpg?VersionId=w6zql5hPjAp3j1..ZTCaYLzN65Ora8Z2" /></p>

<p>BPG was founded by industry veterans Nick Parr and Glen Williams. Parr said the project feels like a "coming home of sorts" for the pair, as they've both spent&nbsp;both spent the majority of their lives living in Brisbane's inner north. &nbsp;</p>

<p>“I lived just up the road in Teneriffe for most of my childhood," Parr said.</p>

<p>"We saw this site as an opportunity to deliver a timeless project in arguably Brisbane’s most popular suburb, where &nbsp;the standard for luxury design and amenities is incredibly high."</p>

<p>Parr believes Brisbane is in a bit of a "sweet spot" currently, in that&nbsp;construction prices have stabilised and demand has continued to climb which means the market is tightening up.&nbsp;</p>

<p>“The Brisbane market is unique in that there is no shortage of sites with existing development approvals, the issue is around the availability of builders who can deliver such projects. We are one of the few builder-developers who can build our own projects at scale &nbsp;so we are able to move quickly into delivery mode which gives confidence to our purchasers.” &nbsp;</p>

<p>Williams said they are proud of the project both&nbsp;in the sense of the significance of the site, but also in the quality and timelessness of the design. &nbsp;</p>

<p>“At BPG Projects we are conscious to prioritise quality over volume, so we tend to &nbsp;approach one project at a time," Williams said.</p>

<p>“For us we are motivated by creating a lasting legacy in our projects, so working with Plus &nbsp;Architecture to realise this vision has been a rewarding journey.” &nbsp;</p>

<p>BPG has appointed MOTIV to handle the sales and marketing of the new tower, which is expected to launch early next year. MOTIV Founder Carly Cottam said the project epitomises everything Newstead is about.</p>

<p>"Newstead is a huge success story in the revitalisation of Brisbane, and as a result it’s now one of the most popular inner suburbs, characterised by its exceptional urban design and wellness-driven lifestyle," Cottam said.</p>

<p>“We know this market values flexibility in floorplates, abundant storage and really liveable &nbsp;kitchens and interiors. That’s why designing an entire building around the owner occupier market with 100 &nbsp;percent of the floorplates representing two or three-bedroom residences mean this project is primed to appeal to the right audience.” &nbsp;</p>

<p>BPG completed Sable Palm Beach on the Gold Coast in 2019, and has plans for more developments in the suburb, as part of their $500 million development pipeline.</p>


Joel Robinson

BPG Developments secures development approval for $250 million Newstead project

<p>With three projects currently in market in Elizabeth Bay and Mosman, two of which are under construction and completing next year, apartment developer Toohey Miller is expanding its new development pipeline across Sydney.</p>

<p><a href="https://www.apartments.com.au/developers/toohey-miller">Toohey Miller</a>, led by Nick Couloumbis, has filed plans for <a href="https://www.apartments.com.au/new-apartments/oxford160-160-oxford-street-paddington-nsw-2021">Oxford160</a>, 44 new apartments across a nine-storey building on Oxford Street in Paddington. It will have 12 apartment designated as affordable housing as per the Housing SEPP 2021 mid-rise reforms which trigger increased height limits, and street-level retail spaces.</p>

<p>The vision for the project is to create a "welcoming and family-friendly place to live with a mix of quality and affordable homes to support the Paddington community at different life stages."</p>

<p>Designs prepared by Smart Design Studio outline a contemporary, articulated streetwall along Oxford Street, stepping back at the upper levels to mitigate bulk and improve visual integration with the local character. A new laneway will improve pedestrian connectivity to Shadforth Street, while communal open spaces are integrated at both ground and rooftop levels.</p>

<p><img alt="Oxford160" data-entity-type="file" data-entity-uuid="0d6e77ed-8c25-4c52-a82d-dd076c66c777" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202025-12-01%20at%209.52.46%E2%80%AFAM.png?VersionId=hjYcxIWIDOn7JWeom6RzIz7MWc1VG6HF" /></p>

<p>According to the Urban Design Supporting Letter prepared by architect and urban designer Matthew Pullinger, the new scheme “represents a contextually sensitive, responsive and high quality renewal of the site and the broader urban landscape”.</p>

<p>Pullinger said there are a range of benefits to the project, namely its contribution to the renewal of "this part of Oxford Street as a distinctive higher density urban high street and a defining element of greater Sydney’s urban character, thereby enhancing the vitality and liveability of this important street."</p>

<p>The new building will replace&nbsp;a dated 1960s-era apartment block which has 27 studio apartments.&nbsp;Design documents note that the current structure detracts from the character of Oxford Street, with the proposal seeking to restore and enhance the continuity of active shopfronts along the northern edge of the street.</p>

<p>The last project to launch on Oxford Street sold out immediately. It was fashion legend Robby Ingham's The Cambrian, which sold all of its 15 apartments in the first five hours of its weekend launch in 2023 through Ben Stewart.</p>


Toohey Miller plans rare new apartment development on Oxford Street, Paddington 

<p><a href="https://www.apartments.com.au/developers/geocon-group">Geocon</a>&nbsp;is advancing its plans for its new&nbsp;mixed-use precinct in Braddon, updated the designs for the prominent site at the intersection of Northbourne and Wakefield Avenues.</p>

<p>The Canberra-based developer is proposing 558 apartments and seven commercial tenancies across four buildings under a staged application first lodged in 2023. The project also includes four levels of basement parking, communal spaces, pedestrian links, and landscaping enhancements.</p>

<p>While the development’s scale remains consistent, the current amendment introduces extensive changes to apartment layouts, building envelopes, façade articulation, and basement design.</p>

<p>According to the Design Statement by <a href="https://www.apartments.com.au/architects/cox-architecture">Cox Architecture</a>, these adjustments were driven by two core objectives: “enhancing apartment and common area amenity” and “ensuring acknowledgement of the housing design guidelines, entity advice, and planning expectations, while retaining the integrity of the original architectural concept”.</p>

<p><img alt="Northbourne and Wakefield Avenues" data-entity-type="file" data-entity-uuid="066194ad-d73f-49b7-8e39-09e20690a7ac" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/pers%202.png?VersionId=I7eLnim8erdwd2Yu1N5sIcLSndeOK_TC" /></p>

<p>The revised apartment mix has been rebalanced to increase diversity and affordability, including a broader range of unit sizes and a higher proportion of three-bedroom dwellings. The updated design also removes problematic layouts, such as “snorkel” bedrooms and internalised studies, to improve liveability and natural light access.</p>

<p>Cox Architecture noted that “studios and smaller one-beds provide entry-level housing and broaden affordability,” while the number of family-sized three-bed apartments has been increased “in direct response to market demand and policy objectives”.</p>

<p>The circulation spaces within the towers have been redesigned to improve wayfinding and daylight penetration, while the ground floor layout has been reworked to create clearer and more visible entry points, particularly from Northbourne Avenue.</p>

<p>Refinements to the building’s massing and façades have also been introduced in response to planning feedback, with additional breaks and articulation to reduce perceived bulk. “Rooftop plant and lift overruns have been integrated and screened, resolving visibility concerns,” COX stated.</p>

<p>Basement levels have been consolidated and made more efficient, with improvements to bike and storage facilities.</p>

<p><img alt="Northbourne and Wakefield Avenues" data-entity-type="file" data-entity-uuid="a1ab9357-707d-46fd-95d7-d6e09c70f20b" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/pers%203.png?VersionId=crDXvrmDsGqFGcb_p6NSUlsr0vYsRacq" /></p>

<p>The precinct’s pedestrian connections have been clarified, and the public realm has been restructured to improve permeability and align with the broader Northbourne corridor urban design framework. Landscaping updates include increased deep soil zones and rooftop communal areas, with tree management to be addressed separately.</p>

<p>Geocon acquired the 10,633 sqm site earlier in 2023 following approval of a prior build-to-rent scheme by Evri Group. The existing nine-storey commercial building was demolished in 2022.</p>

<p>The current proposal, designed by Cox Architecture, is positioned as a key contributor to the ACT Government’s urban renewal vision for Northbourne Avenue, an established transport and development spine served by light rail and major arterial roads.</p>


First look: Geocon refines plans for four-tower precinct on Braddon's Northbourne Avenue

<p>The booming Bilinga beachfront is set for another luxury apartment development, with plans filed for KYRR, an 11-level block on the dress circle Pacific Parade.</p>

<p><a href="https://www.apartments.com.au/new-apartments/kyrr-70-pacific-parade-bilinga-qld-4225">KYRR</a>, on the corner of Pacific Parade and Archer Street, will comprise 24 apartment on its prime 1,009 sqm site. There had previously been plans for a much more boutique seven-storey, five-unit scheme.</p>

<p>Plans have been pitched by CHM Living, an entity associated with James Quinert, the founder of Norwood Constructions which is based in Melbourne.</p>

<p><img alt="70 Pacific Parade and 1 Archer Street" data-entity-type="file" data-entity-uuid="2f6159ee-3511-4b16-b9fa-ae8c008b8faf" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/site_5.png?VersionId=4n2YaBQdjXcshUAkxX8ei9X5N0v2AWqB" /></p>

<p>Designed by <a href="https://www.apartments.com.au/architects/byculprit">ByCulprit Architects</a>, the project includes a sculptural façade with soft curves and natural finishes, inspired by the rhythm and calm of the nearby Pacific Ocean.</p>

<p>According to the Town Planning Report by Town Planning Alliance, the project aspires to reflect the intent of the Medium Density Residential zone, aiming to "contribute to the city’s iconic skyline along the coastal spine" with a high degree of architectural modulation and landscaping that softens the built form.</p>

<p>There will be 22 large-scale three-bedroom apartments and two five-bedroom penthouses. The wellness amenities, including a gym, steam room, sauna, pool, golf simulator, and cold plunge, will sit on level one.</p>

<p>Kyrr will follow in the footsteps of <a href="https://www.apartments.com.au/buildings/pipis-bilinga-303-golden-four-drive-bilinga-qld-4225">PIPIS</a> in Bilinga by SIERA, which is all but sold out with just one of its luxury 19 apartments left to sell. The building set suburb records, with the penthouses both selling for over $8 million. Down the road is Bilinga House, which has a wider mix of configurations and price points starting from just over $1.2 million.</p>


First look: Bilinga beachfront set for new luxury apartment development, KYRR

<p><a href="https://www.apartments.com.au/developers/coronation-property">Coronation Property</a> has received development approval for Archer &amp; Albert, a 32-storey, mixed-use residential development in the heart of Chatswood.</p>

<p>Located at 57–61 Archer Street and 34 Albert Avenue, <a href="https://www.apartments.com.au/new-apartments/archer-albert-chatswood-57-61-archer-street-chatswood-nsw-2067">Archer &amp; Albert</a> will deliver 150 new homes, including affordable housing, alongside ground-floor and podium retail, commercial space, a heritage house activated as a café, additional ground-level activation, and a landscaped publicly accessible park designed for community use.&nbsp;</p>

<p><a href="https://www.apartments.com.au/new-apartments/archer-albert-chatswood-57-61-archer-street-chatswood-nsw-2067">Archer &amp; Albert</a> is one of the few large-scale residential developments in the heart of Chatswood City to progress through a council-led architectural design competition and secure development approval, positioning it at the forefront of design led housing.&nbsp;</p>

<p><img alt="Archer" data-entity-type="file" data-entity-uuid="33cb754a-1493-4203-bd16-096d320597f6" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/A%2BA_C03_EXT_StreetScape_ID1.jpg?VersionId=oLUPFVAMxuRUTH1Bwki16R48cEo.vLeB" /></p>

<p>Designed by global architecture practice <a href="https://www.apartments.com.au/architects/woods-bagot">Woods Bagot</a>, long-term collaborators of the Coronation team, the project draws inspiration from the Sydney Blue Gum High Forest and the leafy character of the South Chatswood Heritage Conservation Area. The design integrates a restored heritage-listed home and establishes a landscaped connection between Chatswood’s urban centre and its surrounding residential neighbourhoods.&nbsp;</p>

<p>“This is an important project for us and our first entry into the North Shore,” said Joe Nahas, Managing Director of &nbsp;Coronation Property.&nbsp;</p>

<p>“We are deliberate about where we invest and build, <a href="https://www.apartments.com.au/developments/chatswood-nsw-2067">Chatswood</a> stands out because the fundamentals are already strong. Transport, employment, education, retail and health are all in place. Archer &amp; Albert is about adding new housing into a centre that already works and building on what exists.”&nbsp;</p>

<p><img alt="Chatswood" data-entity-type="file" data-entity-uuid="620fcd78-00be-489b-823a-ca353387b91b" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/A%2BA_C04_EXT_PARK_HA_ID2.jpg?VersionId=NxSl04Zl1rzt94xlXNA6CNzSR9XMyLgP" /></p>

<p>Aras Labutis, Head of Urban Transformation at <a href="https://www.apartments.com.au/developers/coronation-property">Coronation Property</a>, said the project reflects a disciplined, collaborative approach to city shaping.&nbsp;</p>

<p>“Chatswood sits at an important junction between high-density commercial activity and established residential &nbsp;neighbourhoods," Labutis said.</p>

<p>"Our focus for Archer &amp; Albert was to manage that transition carefully, respecting what’s already there &nbsp;while contributing something new that feels deliberate and enduring."</p>

<p>The approved scheme delivers:&nbsp;</p>

<ul>
	<li>A 32-storey mixed-use tower comprising 150 homes, including 41 affordable housing dwellings • 530sqm of ground-floor retail, dining and commercial offerings&nbsp;</li>
	<li>A 760sqm wellness tenancy integrated within the podium&nbsp;</li>
	<li>A restored heritage building, thoughtfully reimagined as a café overlooking the park&nbsp;</li>
	<li>A landscaped public park, designed as a calm green retreat in the heart of Chatswood&nbsp;</li>
	<li>Resident amenities include a premium gym, golf simulator, mahjong room, dedicated wellness areas, private &nbsp;dining facilities and a curated wine room&nbsp;</li>
	<li>Deep private balconies designed to capture outlooks and northern light&nbsp;</li>
	<li>A refined material palette of natural stone, timber and terracotta&nbsp;</li>
</ul>

<p>[smartcode_project_cta:default project_id=29796]</p>


Coronation receives green light for Archer & Albert apartments in Chatswood

Echuca

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<p><span>Positive conditions have instilled a high degree of confidence in the Echuca and Deniliquin regions, according to the valuation firm Herron Todd White’s latest rural report.</span></p>
<p><span>A well above average season in regard to crop and fodder is expected due to most of the area receiving around 100 millimetres of rain throughout autumn, plus good follow-up winter rainfall, says HTW director John Henderson.</span></p>
<p><span>“The overall result of this confidence in the seasonal outlook in the area has translated to a rising market”, Henderson said.</span></p>
<p><span>Some degree of uncertainty about the outlook for commodity prices in the short-term remains.</span></p>
<p><span>The report noted recent sales that showed a $1,000 per hectare rise, including a batch of well-developed irrigation properties close-by the Finley district sold for $5,435 to $6,175 per hectare.</span></p>
<p><span>This is compared to similar properties which sold for $4,570 to $5,065 per hectare in December 2018 to February 2019.</span></p>
<p><span>“The rising market is a feature of most of southwest New South Wales and northern Victoria, with agents reporting strong enquiry in the region.”</span></p>
<p><span>The general outlook for the region is for rural values to continue to rise.</span></p>
<p><span>However, the report notes that uncertainty around key commodity prices may start to influence decision-making in the near future.</span></p>
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Rural values continue to rise in the Echuca and Deniliquin regions: HTW Rural

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<div class="column"><span>A good autumn with most of the area receiving around 100 millimetres of rain during March and early April has instilled early confidence in a reasonable season in the Echuca and Deniliquin markets, according to the June Herron Todd White (HTW) rural report. </span></div>
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<div class="column"><span>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. </span></div>
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<span>Combined with the long term forecast of good rains for the 2020 winter season, the general outlook for the rural sector is good, the report noted. </span>
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<div class="column"><span>Locally, farmers are quite confident of a good season and reasonable commodity prices despite the obvious impact of COVID-19.</span></div>
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<div class="column"><span>Agents are reporting a gradual increase in enquiry for rural property over the past month or so that will no doubt translate into a gradual improvement in sales activity.</span></div>
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<div class="column"><span>"We are aware of two sales contracted in late March that are at levels similar to pre COVID-19."</span></div>
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<div class="column"><span>A significant influence in the market has been the low interest rates and the perception that interest rates will remain at or around this level for the foreseeable future," the valuation firm said. </span></div>
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<div class="column"><span>A mixed irrigation and dryland holding to the south of Deniliquin contracted for sale in April 2020 for about $10 million, showing around $2450 per hectare excluding water. </span></div>
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<div class="column"><span>The purchasers were local farmers, indicating plenty of confidence and strength in the market place, the report notes. </span></div>
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<div class="column"><span>"At this point in time, the general outlook for rural values in the area is for values to steady or see a slight rise," the valuation firm said. </span></div>
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<div class="column"><span>A Carag Carag farm has recently been sold for $335,000.</span></div>
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<div class="column"><span>The property at 662 Blamey Road (pictured below) features four bedroom homestead, colorbond shed, internal fencing and native garden. 'Currently the farm is used for grazing stock.</span></div>
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<div class="column"><span>A current listing is Yallum Vale, a 422ha Dairy farm in Echuca priced at $3.8 million.</span></div>
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<div class="column"><span>The 1151 McKenzie Road property (pictured below) includes two homes on separate titles, 50-stand rotary dairy and machinery shed. </span></div>
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<span>It is located just 10 minutes south east of Echuca. </span>
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Echuca and Deniliquin rural markets remains steady: HTW rural

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<p>The auction of the Moama district farming property, Kinrara has been listed for auction.</p>
<p>Set at 118 Ripper Road, about 30 kilometres north of Moama-Echuca, the property is 280 hectares (693 acres).</p>
<p>Agents expect it will attract interest because it has been certified organic by the accredited NASAA (National Association for Sustainable Agriculture Australia) whose standard ensures organic integrity from paddock to plate.</p>
<p>Currently, organically accredited products such as hay, grains or pulse crops are selling for double normal market rates and there is also significant supply chain demand for sheep or cattle that are organically produced.</p>
<p>The Kinrara property will be auctioned by Rodwells Ruralco Property on February 22.</p>
<p>Rodwells Ruralco selling agent Andrew Miller says that the property is being offered on behalf of the Hehir family who have held the property since 1998, but had leased it for eight years prior to purchase.</p>
<p>They undertook the three-year long process to secure the NASAA organic accreditation.</p>
<p>“The vendors have dairy farming interests in northern Victoria and have principally been using the Kinrara property to produce supplementary pasture products under irrigation to support their organic milk dairy production, as well as rearing young stock and wintering dairy cows,” said Miller. </p>
<p>“But they have recently secured another holding that adjoins their home farm, so that Kinrara has become surplus to their needs, hence its offer for auction sale.”</p>
<p>Miller says that the formalisation of organic production of both dairy products and livestock confers significant value to an accredited farm like Kinrara.</p>
<p>As well this property is suitable for cropping and would also support sheep or cattle production as it has significant infrastructure in place.</p>
<p>Kinrara will be offered with the successful purchaser having the first option to purchase at market rates the significant water right of 666 megalitres of NSW General Security water which is sourced from the Moira channel which adjoins a boundary of the holding. </p>
<p>The water entitlement is considered double the normal district farm entitlements and resulted from the consolidation of two local property entitlements many years ago.</p>
<p>In addition, there is also an 8 megalitre Stock &amp; Domestic water right.</p>
<p>During their ownership the vendors have developed a high capacity and high flow flood irrigation system over about 211 hectares. </p>
<p>The further land area of 60 hectares is used for dryland grazing and is mostly suitable for cropping.</p>
<p>The holding is subdivided into nineteen paddocks, all electric fenced, with an internal gravel laneway system that facilitates year-round access and enables operational efficiency even in the wettest winters.</p>
<p>The property has a 40 megalitre capacity turkey nest dam which can be gravity filled from the Moira channel system with all runoff from irrigation recycled back to the sumps at the dam m where it can be reused.</p>
<p>The water resources are also used effectively with two-inch poly pipe mains to concrete troughs in every paddock served by an electric pressure pump. </p>
<p>There are dams in 10 of the paddocks while numerous box trees were retained for stock shelter and to enhance the presentation of the farm.</p>
<p>The property benefits from all-weather access while there are stock handling facilities of a shearing shed, new cattle yards and loading ramp beneath a very large Moreton Bay fig tree.</p>
<p>Buildings include an original unused homestead, with a transportable two bedroom living unit with appropriate services on the holding.</p>
<p>Three phase power is on the property which makes it attractive to intensely irrigated horticultural pursuits such as tomatoes or alternative tree crops.</p>
<p>The property is rectangular in shape with good road frontages on two boundaries.</p>
<p>Prior to outright acquisition in 1998 by the Hehir family the property was owned for many decades by the late Stan Jasper who with his wife lived modestly on the property and conducted a low impact farming regime, principally sheep and later to agist dairy cattle.</p>
<p><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/2019/1/10/RURALCO%20KINRARA%20MOIRA%20CHANNEL.jpg" alt=""></p>
<p>With an aversion to cultivation or chemical use, this historic approach facilitated the conversion to organic. </p>
<p>Miller notes that: “strong swards of sub clover and ryegrass have been managed over the last twenty years with a small cropping area, most recently of high yield vetch that was harvested in the 2018 spring. </p>
<p>“Lucerne has also been established on the irrigated pastures after cropping and grown as summer green feed without irrigation to supply a large flush of autumn feed following the seasonal break or after further irrigation.</p>
<p>“The success of the lucerne is put down to roots beyond three metres reflecting the high value of the soils under the organic regime.”</p>
<p>The Hehir family has typically run 300 to 450 head of dairy cattle on Kinrara over the winter and cut 2,000 bales of clover dominant hay in most years. </p>
<p>Surveys have established the organic matter of Kinrara’s soils in the range of 3.17 to 4.65% that is approximately double that of district farms. </p>
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<p>Miller adds he has assessed the land value as in the region of $1,350 per acre.</p>
<p>“Nothing like this holding has come on to the market in this district in recent years nor is there anything of similar productivity expected to become available.”</p>
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Organic Echuca-Moama region farm listed for auction

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<p>A section of the old Echuca Post Office in northern Victoria is set to go to auction mid December.</p>
<p>The part for sale is a ground floor cafe, currently leased to the Café 3564 Wine Bar &amp; Tapa, as well as upstairs accomodation with two ensuited bedrooms. There's a third ensuited bedroom on the ground floor.</p>
<p>The ground floor comprises an atrium-style function room with an outdoor paved dining space with its own bar area.</p>
<p>Other parts of the building may also be for sale subject to private negotiations, and first right to negotiate will be offered to the successful purchaser.</p>
<p>Making up the other part of the building is a cafe with outdoor seating at the front, four more residences, as well as a ground floor retail space.</p>
<p>On the <a href="https://www.realcommercial.com.au/property-retail-vic-echuca-503014302" target="_blank">corner of Hare Street and Anstruther Street</a>, the Echuca Post Office dates back to the 1870s, when the two storey building with a clock tower over the entrance door was built.</p>
<p><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/2018/11/20/echuha2.jpg" alt=""></p>
<p>The ground floor features a formal entry hallway, a master bedroom with full ensuite, a dressing room and a study/office.<br> <br>There's a large lounge/dining room with atrium and a timber ceiling design that was formerly the sorting room for the post office. There's also a more modern extension with open kitchen/dining/lounge room with separate laundry/toilet.</p>
<p>Ray White Commercial Oakleigh agent Ryan Amler and Joshua Colosimo are handling the marketing in conjunction with Ray White Echuca's Stephen Morgan for a December 14 auction.</p>
<p>Amler said potential buyers will be blown away by how rare the opportunity is and the income returns that are on offer.<br> <br>"Put simply, buildings of this calibre and location don't come around very often," he said.<br> <br>"The Old Echuca Post office, complete with its own clocktower, was constructed circa 1875 and underwent a full refurbishment by the current owners for which they received recognition through the Victorian building awards.<br> <br>“The 429 sqm part of the building has Commercial 1 Zoning and provides a combined rental return of $60,480 p.a. net with 10 per cent annual increases." </p>
<p>The current freehold premises of the Echuca Post Office has recently sold through Teska Carson.</p>
<p>The property at <a href="https://www.commercialrealestate.com.au/property/227-pakenham-street-echuca-vic-3564-2014623155" target="_blank">227 Pakenham Street</a> is currently leased to Australia Post and is part of Echuca's retail and business precinct.</p>
<p>It comprises a single-storey, double fronted building of nearly 300 sqm on a 440 sqm site zoned Commercial 1.</p>
<p>The property was sold sibject to a five year lease, with a five year option, from July 2015 to Australia Post at $88,056 per annum, with annual three percent rent reviews.</p>
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Part of the old Echuca Post Office set to go under the hammer

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<p>A near-new petrol station in Echuca has sold for $7.5million on a 6.5% yield.</p>
<p>Property industry players Peter Spargo and Bill Guest were the vendors of the 161-189 Ogilvie Avenue property.</p>
<p>It is leased to United Petroleum and Hungry Jacks until 2028 with options to extend.</p>
<p>The site contains a 1,191 square metre building on a 5,240 square metre site.</p>
<p>Colliers International’s Daniel Wolman, Anthony Kirwan and Harry Bui in conjunction with Melcorp Commercial’s Paul Jones and Tim Spargo sold the property via an expression of interest campaign.</p>
<p>“The collaborative approach to the sales campaign for this regionally located property proved to be highly successful, with multiple offers received at the conclusion of the EOI process,” Wolman said.  </p>
<p>“The successful purchaser, a private investor from Victoria, acquired the property for $7.5million, a sale price which reflects a tight regional yield of 6.7%. </p>
<p>“The sale, which has set a new benchmark for the local property market, is another sign that despite a reported cooling in market conditions and funding concerns, the market is still awash with cash buyers and is highly competitive.” </p>
<p>Kirwan said buyers were increasingly looking for alternative investment options. </p>
<p>“The major appeal of this asset was the high calibre tenant covenant, fixed income growth and the fact that having been so recently developed, an astute buyer could reap the rewards of newly constructed improvements and great depreciation benefits,” he said. </p>
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Near-new Echuca service station sold for $7.5 million

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<p>The season is precariously placed along the border region with many requiring significant falls to guarantee crops, according to the latest Herron Todd White rural report.</p>
<p>The valuation firm stated, historical management and resulting soil condition has never been more evident than the current season with paddocks either side of some roads showing substantially different vigour and harvest potential reflecting the organic matter content, sowing times and general management practices.</p>
<p>As one farmer in the Riverina said in the second week of August “if we don’t get rain in the next two weeks, the crop will be finished”.</p>
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<p>Valuer David Leeds concludes by noting "a sharp rise in allocation water prices will be likewise creating some difficult decisions for those with irrigation development weighing up the likely final commodity prices with the opportunity cost of irrigating versus selling their allocation on the market."</p>
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Echuca precariously rainfall reliant: HTW rural

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<p><span>Buoyed by the rising value of water, irrigated cropping and grazing holdings continue to be strong performers with agents reporting good demand and prices regularly exceeding vendor expectations, <span>according to the latest Herron Todd White rural </span><span>report.</span></span></p>
<p>This has been a continuing trend for nearly 12 months, the valuation firm advised.</p>
<p>:As one vendor recently noted, they anticipated to realize in excess of $1.1 million when the property was offered to market.</p>
<p>"After 24 hours, the property sold to several neighbours for an amount in excess of $2 million."</p>
<p>Discussions with an agent indicated a selling price 10% to 15% in excess of the initial list price (three months ago) albeit with a significant water component.</p>
<p>Recent sales include a Lockington mixed farming enterprise situated between Echuca and Lockington in Northern Victoria.</p>
<p>It was sold for $1 million in May.</p>
<p><a href="https://www.realestate.com.au/sold/property-mixed+farming-vic-lockington-7543867" target="_blank">Located at 2361 Whinfield Rd</a> (pictured above), the property comprises 144 hectares on three separate titles. </p>
<p>The home block on 32 hectares has three bedrooms, and Lot 2 has a brick home on 64 hectares.</p>
<p>The third Lot is 47 acres of lasered cropping and grazing country. </p>
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Echuca market exceeding vendor expectations: HTW

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<p>Echuca has been buoyed by the rising value of water, irrigated cropping and grazing holdings, according to the latest report from Herron Todd White (HTW).</p>
<p>The valuation firm found that this has been a continuing trend for nearly 12 months with agents reporting good demand and prices regularly exceeding vendor expectations.</p>
<p>"As one vendor interviewed recently noted, they anticipated to realize in excess of $1.1 million when the property was offered to market," the HTW valuers stated.</p>
<p>After 24 hours, the property sold to several neighbours for an amount in excess of $2 million.</p>
<p>The report noted agents indicating a selling price 10% to 15% in excess of the initial list price (three months ago) albeit with a significant water component.</p>
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Echuca agents indicating selling prices 10% to 15% above initial listing: HTW

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<p>The Echuca residential market has shown no signs of slowing down after a year of further tightening and an increase in off market sales as agents have multiple buyers interested in property before it hits the market.</p>
<p>In many instances this resulted in the asking price or a touch stronger being achieved, HTW's latest report noted.</p>
<p>The valuation firm advised it was consistent across almost all Eucuca market segments with tightening market conditions spreading into rural residential holdings which historically required marginally longer selling periods.</p>
<p>Land sales west of Echuca have been well received amid limited competing supply while Moama has continued to see significant development.</p>
<p>"Nevertheless there is still an imperative to having properties listed correctly with older stock at secondary locations probably being the only slight drag on the market," the HTW report advised.</p>
<p>"Builders are busy and the market is likely to stay tight for some time, particularly the rental market on the back of commencement of the second bridge." </p>
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New bridge boost for Echuca residential rental market: HTW

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<p>Sales rates for medium sized irrigation properties at between $500,000 to $1.5 million around irrigation has had strong improvement in the Echuca region, according to Herron Todd White.</p>
<p>HTW said value levels appear to be edging higher for irrigation holdings and it will be interesting to see how this progresses under the current water resource position across the irrigation districts.</p>
<p>"An improved forecast for farm gate milk price may spurn some interest though it is likely that most producers will have work to do to regain ground lost in the 2016/17 season," HTW said.</p>
<p>A 7.1 acre property at <a href="https://www.realestate.com.au/property-house-vic-echuca-126115282" target="_blank">133 Pianta Road Echuca</a> is on the market for between $499,000 and $548,000.</p>
<p><span>The property features two lockable sheds, a work shop or tack shed and a 3/4 meg Dam, with 4meg of high-security water.</span></p>
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