National property developer Goldfields has secured permit approval and appointed Victorian residential builder Ironside to begin work on The Brightly, an 11-storey, wellness and lifestyle-focused mixed-use development in Richmond.

<a href="https://www.apartments.com.au/developers/goldfields-group">Goldfields</a> has partnered with Dexus Real Estate Partnership Fund 1 (DREP 1) as co-investor and delivery partner in the <a href="https://www.apartments.com.au/new-apartments/the-brightly-9-15-brighton-street-richmond-vic-3121">Brighton Street project</a>.

With architecture and interiors by design practice Cera Stribley, The Brightly will feature 100 apartments, a resident-only wellness space, elevated dining experiences including a private dining room and a rooftop garden lounge, and ground-floor retail designed to integrate with Richmond’s local character.

The wellness space will feature a hot magnesium pool, cold plunge, steam room, sauna, and a vitamin-infused drinking station for refreshment and rehydration.

The Brightly’s focus on wellness extends to the rooftop landscaped by award-winning landscape architect Jack Merlo. It will feature canopied retreats and panoramic views of the Melbourne CBD and Richmond Hill treetops. Residents can also host guests with a private bookable dining space on the rooftop garden lounge and an indoor option on the first level.

Cera Stribley’s architectural vision drew inspiration from the surrounding area, using the flowing form of the train lines to shape the façade and create a dialogue between the building and Richmond’s rich history. The design features a four-level podium lined with lush greenery, honouring the suburb’s character and streetscape through its scale and materials.

There will be a choice&nbsp;of one-, two- and three-bedroom apartments, along with 19 exclusive sub-penthouses and penthouses, for prospective purchasers.

Lachlan Thompson, Goldfields’ CEO, said The Brightly will define a new kind of urban luxury for Inner East living.

“By drawing on Richmond’s vibrant mix of culture and hospitality, we’ve combined a lifestyle centred on wellness,” Thompson said.

“Its proximity to Melbourne's sports and entertainment precinct, the CBD, parks, and public transport makes it a prime location for both young professionals and those seeking a lifestyle change. What we’ve created is something remarkable - it’s real, it's Richmond, and it’s refined."

Dexus Real Estate Partnership Fund 1 Fund Manager, Jason Howes, said the Brightly is a high-quality investment in a high demand area with limited residential stock expected to be added in the coming years.

“Partnering with Goldfields, we are delivering a project that will redefine lifestyle focused urban living, offering residents exceptional design and amenities in one of Melbourne's most vibrant suburbs,” he said.

Onsite demolition is underway, with construction set to commence in April 2026 and completion targeted for late 2027. The Brightly will launch to market in mid-2026.

[smartcode_project_cta:default project_id=146631]

Joel Robinson

Goldfields greenlit for The Brightly, Richmond apartment development

The Allan Labor Government has revealed the remaining 23&nbsp;Train and Tram Zone Activity Centres as part of their plan to try and encourage development around some of Melbourne's most connected suburbs.

The new zones includes&nbsp;four smaller ‘neighbourhood centres’ to plan for more modest growth.

<ul>
	<li>Five are connected to the new Metro Tunnel and are now experiencing more services: Caulfield, Springvale, Noble Park, Yarraman (neighbourhood centre), and Dandenong stations.</li>
	<li>Eight are along the Frankston Line, which has recently returned to the City Loop: Hawksburn, Toorak (Beatty Avenue), Armadale (High Street), Malvern (Glenferrie Road), Glen Huntly, Ormond, Bentleigh, and Mentone stations</li>
	<li>Four are along the Sandringham Line, which will see an increase in services later this year: South Yarra, Prahran, Windsor and Elsternwick stations</li>
	<li>Three are on the Belgrave/Lilydale Line and benefit from five-minute peak services on average between Ringwood and the city: Blackburn, Nunawading, and Mitcham stations</li>
	<li>Two neighbourhood centres on the Alamein Line: Ashburton Station, plus a combined centre for the two closest stations on the metropolitan network Riversdale &amp; Willison stations</li>
	<li>One neighbourhood centre, Toorak Village, is a built-up area along the Route 58 tram.</li>
</ul>

The <a href="https://spatial.planning.vic.gov.au/activitycentre/">draft maps</a> will now be subject to detailed community consultation.

A similar process occurred for the first 10 pilot Activity Centres, with clear changes made as a direct result of this community consultation.

Read more:&nbsp;<a href="https://www.apartments.com.au/news/vic/50-new-train-and-tram-zone-activity-centres-to-encourage-new-apartment-development-across-melbourne">50 new ‘train and tram zone’ activity centres to encourage new apartment development across Melbourne</a>

The final train and tram zones will set clear expectations on where new homes can go, cutting out delays, uncertainty and red tape and getting homes off the ground. The remaining two in inner-Melbourne that cover the entire Local Government Areas of Melbourne and Yarra, will go through a separate process.

In the immediate ‘core’ the plans allow for more homes in taller apartment buildings.&nbsp;Some cores have heights of six storeys, while others have up to 20 storeys, only when it is in line with those councils’ planning work.

Eligible buildings across the core will be ‘deemed to comply’ with planning rules and be exempt from VCAT review. Applications in the core that exceed the specified height of the site are not eligible for this fast-tracked pathway.

In the walkable catchments that surround the core, the plans propose gentler height limits and more low-rise apartments and townhouses. Heritage and landscape overlays will stay in place.

Inner catchments, representing up to a five-minute walk from the station or centre, propose limits of four storeys, or six storeys on larger blocks of more than 1,000 sqm, while outer catchments, representing up to a 10-minute walk from the station or centre, propose limits of three storeys, or four storeys on larger blocks of more than 1,000 sqm.

By 2051, train and tram zones will help deliver more than 300,000 new homes, with final plans for all 50 new centres expected to be completed by mid this year.

“We want more Victorians to have the opportunity to live close to public transport, their loved ones, and the things that matter to them,"&nbsp;Minister for Planning Sonya Kilkenny said.

“Whether it’s making it easier to build homes close to public transport, townhouses in our inner suburbs, or family homes with a backyard, our planning reforms are all about giving more Victorians real housing choice.

“While we’re focused on giving more young Victorians the opportunity to have a home of their own, the Liberals are blocking them from being built. They oppose more homes near transport, jobs and services.”

Toorak and South Yarra earmarked for greater density as VIC Gov releases final Train and Tram Zone Activity Centres

Glen Waverley’s housing shortage is set to be closed by 50 per cent with the approval of 795 new apartments which will rise from a former carp park in the heart of the suburb.

The plans, lodged by <a href="https://www.apartments.com.au/developers/sunkin-property-group">Sunkin Property Group</a> and now approved by the Victorian State Government Development Facilitation Program, will transform the 6,114 sqm carpark at 281 Springvale Road, into an $800 million, mixed-use residential and commercial development in the metropolitan activity centre.&nbsp;

“281 Springvale Road has received planning approval for a mixed-use, high-density development that will provide much needed homes in Melbourne’s middle-ring suburbs, including affordable housing," Sunkin's GM of Property and Development Lloyd Collins says.

"We worked closely with key stakeholders, the Department of Transport and Planning, Suburban Rail Loop Authority and Monash City Council to achieve an integrated design with an activated retail ground level that will add to the success of Glen Waverley.

Glen Waverley’s population is projected to grow by 9 per cent by 2031, with an additional 1,600 dwellings required to &nbsp;service the area.

Around 1,000 sqm of the former carpark has been retained by Monash City Council for a new Civic Plaza, creating a central meeting point and public transport link for the local community. &nbsp;

Sunkin Property Group acquired the site from Monash City Council in 2024. The site will remain open as a public carpark until development commences.

[smartcode_project_cta:default project_id=149491]

$800 million, 800-unit development permit fast-tracked for Glen Waverley carpark

UAE developer <a href="https://www.apartments.com.au/developers/arada">Arada</a> is continuing to unveil its billions of dollars of residential development it is set to deliver in Australia.

Following on its plans for <a href="https://www.apartments.com.au/news/nsw/arada-pitches-castle-hill-apartment-plans-ahead-of-2026-launch">431 apartments in Castle Hill</a>&nbsp;and the 2025 bail-out of construction firm Roberts &amp; Co so it can build its own developments, Arada&nbsp;has sought the NSW Government's approval for three towers in the Campsie town centre.

The project, dubbed One Campsie, has been designed by Woods Bagot and will deliver 346 apartments to Beamish Street across three interconnected towers rising 24, 32, and 39 storeys.

According to the Woods Bagot Architectural Design Report, the design seeks to “redefine the urban experience of a rapidly transforming town centre,” delivering housing above an activated ground plane that integrates civic and commercial uses. The design adopts a three-part vertical composition, stepping and articulating the tower to reduce visual bulk and respond to its varied urban interfaces.

<img alt="First Look: Arada unveils 39-storey mixed-use tower for Campsie town centre in State Significant Development bid" data-entity-type="file" data-entity-uuid="f515807f-7277-4ea5-8b2b-a5718514f30a" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Campsie%20podium.png?VersionId=J3oSJpOvye8gpg1kjagODjdhOb0Cl28I" />

At street level, the scheme places significant emphasis on public domain upgrades. A new civic plaza is proposed opposite the Orion Theatre, alongside a landscaped pocket park and a through-site pedestrian link connecting Beamish Street to Campsie Street and Ninth Avenue. The Urban Design Justification Report states that the proposal “builds on Council’s Master Plan by applying a place-led urban design framework that responds to the site’s unique conditions and enhances pedestrian experience and public benefit.”

The documents note that the development aligns with the Master Plan’s intensification strategy for sites within walking distance of the Metro station, while seeking to retain solar access to key public spaces. As outlined in the Urban Design Report, the proposal delivers “intensification within walking distance of the Metro Station while retaining solar access to key parks."

<img alt="First Look: Arada unveils 39-storey mixed-use tower for Campsie town centre in State Significant Development bid" data-entity-type="file" data-entity-uuid="586ad606-a84f-49cc-b715-fc3ecb731205" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Campsie%20podium%20a.png?VersionId=gNHaD.Os8yW4LVOdsJIdmmhlgQArs0Gm" />

Woods Bagot’s design narrative also draws on local history and Aboriginal cultural context. The Architectural Design Report references engagement with Wangal Country and the Cooks River landscape, seeking to embed a connection to Country through material selection, planting, and public art integration. The broader vision, as described in the report, is to create a building that functions as a “community catalyst, not only as a place to live, but as a vibrant destination for work and play that brings people together, supports local culture, and contributes meaningfully to the civic identity of Campsie.”

<img alt="First Look: Arada unveils 39-storey mixed-use tower for Campsie town centre in State Significant Development bid" data-entity-type="file" data-entity-uuid="f1bc9a44-0c1a-4e3f-8b27-38070b0d2744" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Article%20Feature%20Image%20%28Grid%29_2.png?VersionId=1JmMWg6jOU1rPpS9hCxy8s8H48xc0EiM" />

Located at 124–142 Beamish Street and 16–18 Ninth Avenue, the site occupies a key stretch of Beamish Street, Campsie’s traditional high street, characterised by fine-grain retail, multicultural dining, and proximity to civic infrastructure including the Orion Theatre and Canterbury Civic Centre. The proposed civic plaza and pocket park aim to strengthen this interface, formalising connections between retail frontages, public transport, and community facilities.

If approved, One Campsie would mark one of the tallest and most ambitious additions to the suburb’s skyline, reflecting the broader shift toward higher-density living around transport nodes in Sydney’s middle-ring centres.

First Look: Arada files for trio of apartment towers in Campsie town centre

Syd​ney builder-developer Scion has lodged a State Significant Development Application (SSDA) for a 22-storey mixed-use tower at <a href="https://www.apartments.com.au/new-apartments/96-anzac-avenue-west-ryde-nsw-2114">96 Anzac Avenue, West Ryde</a>, marking a significant step in the transformation of the Victoria Road gateway precinct.

Designed by Turner, the proposal would replace an ageing two-storey commercial building with 145 apartments and 29 co-living rooms, above ground-floor retail and three basement levels of parking.

The 3,149 sqm site sits just 150 metres from West Ryde train station, at the edge of the suburb’s retail core and diagonally opposite Anzac Park. It occupies a prominent corner with frontages to both Anzac Avenue and Victoria Road, positioning it as a key transition point between established residential neighbourhoods and the commercial centre.

The scheme is being advanced under the Housing Delivery Authority pathway as a State Significant Development, alongside a concurrent rezoning to lift the site’s height and floor space ratio controls.

Turner says in the Architectural Design Report that the proposal "responds to a unique opportunity to support the revitalisation of West Ryde through the delivery of a landmark development that combines high-quality residential offerings with enhanced public realm and active ground plane uses.”

Scion will be pushing height almost five times higher than what had been pitched for the site before.

Turner says the increased scale aligns with Council’s strategic direction for the precinct, including the West Ryde Town Centre Revitalisation Strategy (2019), the Draft Masterplan (2021), and the West Ryde–Meadowbank Renewal Strategy (2023).

“The increased height and density proposed aligns with Council’s evolving strategic direction for the precinct, as outlined in the Draft Revitalisation Strategy (2019), the 2021 Draft Masterplan, and the broader West Ryde–Meadowbank Renewal Strategy (2023), which collectively call for higher density, transit-oriented development and design excellence."

Turner describes the vision as establishing “a contemporary, mixed-use development that contributes positively to the West Ryde town centre.”

<img alt="West Ryde" data-entity-type="file" data-entity-uuid="c5c22c11-92b8-4ca6-b77b-b5848ae0176d" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-02-12%20at%202.41.34%E2%80%AFPM.png?VersionId=aom0z8azYDw7Hl6.A6vDbCom5ozZICn5" />

The architectural response has been shaped by the site’s gateway role along Victoria Road and its proximity to Anzac Park and surrounding heritage elements, including the Sydney Water pumping station opposite the site.

The design process also incorporated consultation around Connecting with Country principles. The design report outlines engagement with Cultural Heritage Consultants Artefact and Aunty Julie, a Burruberongal woman of the Darug Nation, informing planting selection, materiality and potential public art opportunities.

Turner says the scheme aims to optimise the site’s capacity while balancing yield and amenity.

“The proposed scheme seeks to optimise the site’s potential by balancing yield, amenity, and urban integration. It will deliver a high-quality, mixed-use precinct that supports West Ryde’s ongoing transformation into a connected, accessible, and liveable centre."

Scion recently completed the build of its own development, The Sterling in Lane Cove. They are currently building Chatham in West Ryde, just 500m from the new proposal. Those 62 apartments will complete later this year.

First look: Scion pitches tower plans for West Ryde

Fortitude Valley

The national property developer RG Property have lodged plans for a 15-storey residential tower in the heart of the buzzing Fortitude Valley.

The base of the tower, proposed for&nbsp;36 Warry Street, is weaved into the existing heritage fabric that occupies the site, blending in between the buildings of Keating’s Bread Factory, which was established back in 1879 before becoming one of the major bread making companies in Brisbane.

Designed by Blight Rayner, the Warry St development will comprise a total 118 apartments, with a mix of one, two, three and four-bedroom residences.

<a href="/new-apartments/36-warry-street-fortitude-valley"><img alt="" data-entity-type="" data-entity-uuid="" height="1210" src="https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/screen_shot_2022-05-25_at_10.55.42_am.png" width="1266" /></a> 
View of the proposed development from Kennigo Street. Credit: Blight Rayner

The ground level concept is to integrate the heritage buildings with the new built environment by linking them into a pedestrian laneway activated by food and retail outlets, forming the heart of the development.

“Initially, the historic buildings are intended to retain their predominantly office uses but over time, they may gradually change to retail and dining uses once the laneway gains a reputation as a hub of day and night life in Spring Hill,” said Blight Rayner in their development documents.&nbsp;

“The strategy for integrating new and old is twofold. One, by way of matching podium scale and two, by using a contemporary version of the heritage material palette, seeking not to imitate but add a new complimentary layer to the old,” they added.

Level one will home a yoga/pilates terrace along with a gym, which will overlook the bustling streetscape, in addition to three apartments that open out on to surrounding gardens.

<a href="/new-apartments/36-warry-street-fortitude-valley"><img alt="" data-entity-type="" data-entity-uuid="" height="1216" src="https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/screen_shot_2022-05-25_at_10.56.03_am.png" width="2018" /></a> 
Elevated view above Warry St. Credit: Blight Rayner

Four vertical gardens, one on each side, are planned to enable vines to drape down each level and to grow laterally onto adjoining screens on the street-facing elevations.

Designed with the owner-occupier in mind, apartments offer a variety of layouts and floorplans, catering to differing living and lifestyles.

Large balconies are provided to all apartments and depending upon their orientation, balconies are variously open or screened.

The balconies provide depth to the three-dimensional form creating articulation around all sides, generally positioned on the corners of the building, giving two-way views as well as softening the built form.

“The typical apartment floors are accessed by an L-shaped corridor that opens up to gardens at each end and is naturally ventilated. The layout enables the majority of apartment balconies to occupy corners to optimise both outlook and aspect."

<a href="/new-apartments/36-warry-street-fortitude-valley"><img alt="" data-entity-type="" data-entity-uuid="" height="1208" src="https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/screen_shot_2022-05-25_at_10.56.13_am.png" width="2010" /></a> 
Elevated view above the existing heritage building. Credit: Blight Rayner

Two penthouse levels provide larger apartments on the southern side of the tower, while creating a distinctive top to the built form.

Crowning the tower will be an expansive roof garden and swimming pool, with the intent that plants will drape over each edge and be highly visible from the streets and afar. The gardens will also screen the plant enclosure and surround a large barbecue plaza for its solar protection, reinforced by a lightweight, open pergola structure

The site has relatively good access to buses and Fortitude Valley Train Station, while sitting within walking distance of the Brisbane CBD, the new Fortitude Valley State Secondary College, and a host of other convenient amenities.

“The 36 Warry Street Project represents an exciting opportunity to enhance Spring Hill as a lifestyle precinct and inner-city destination."

Designed by Blight Rayner, the Warry St development will comprise a total 118 apartments, with a mix of one, two, three and four-bedroom residences.



alisonwarters@gmail.com

RG Property to redevelop historic Fortitude Valley Bread Factory

Vicland Property Group’s two breathtaking apartment buildings at Fortitude Valley offers a modern-day sanctuary in an energised urban village.

A prestigious collaboration by Rothelowman and Bruce Henderson Architects delivers residents a range of versatile, open-plan designs and luxury lifestyle offerings.

[smartcode_project:default project_id=6257 project_image_fid=141412]

The Coterie’s one and two-bedroom apartments deliver sophisticated simplicity, with a clean and functional design.

Separate study zones and sliding doors to some bedrooms enhance flexible living options as buyers seek work-from-home options.

[smartcode_project:default project_id=6257 project_image_fid=141413]

“Designer touches are apparent in every space with the refined treatment of contemporary polished surfaces, textural finishes and confident, monochromatic highlights”, the project marketing reads.

Bedrooms feature oversized mirrored wardrobes, plush carpets and full-height windows to enhance light and deliver views of the city skyline.

Walk-in robes and storage space has also been added to the benefit of homebuyers.

[smartcode_project:default project_id=6257 project_image_fid=141414]

The architects utilise smoky mirror splashbacks and glazing to increase a sense of depth into the home. This is also seen in the bathrooms, which feature bold black accents and simple forms to create a regenerative space.

Ensuites are appointed to most two-bedroom apartments and cleverly crafted.

Preserving the history of the site, the Coterie integrates an original heritage bakery façade and feature a ground-level retail presence.

[smartcode_project:default project_id=6257 project_image_fid=141415]

Residents will also have access to crafted social spaces that come together as two indulgent rooftop retreats, featuring&nbsp;an alfresco dining pavilion, rooftop pool, garden lounge seating and sun decks.

Two-bedroom residences are priced from $536,080, while three-bedroom penthouses begin at $2,310,000.

With limited apartments remaining, and only 1.5-kilometres from Brisbane’s CBD, The Coterie is not one to miss.

A prestigious collaboration by Rothelowman and Bruce Henderson Architects delivers residents a range of versatile, open-plan designs and luxury lifestyle offerings

max.kwok_55688

Inside the two-bedroom apartments at Fortitude Valley’s The Coterie

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Rising just 1.5km away from Brisbane’s CBD in the culturally rich and vibrant Fortitude Valley are The Coterie. The two residential towers comprise of one, two and three bedroom selections and two penthouses across 27 floors. The Coterie is a modern day sanctuary, an exclusive lifestyle destination for its residents and a progressive addition to the energised urban village it belongs to. 

<figure><a class="colorbox colorbox-insert-image" href="/new-apartments/the-coterie-365-st-pauls-terrace-fortitude-valley" rel="gallery-all"><img alt="" class="image-article-full-width-580px" src="/s3/files/styles/article_full_width_580px/public/pictures/article-images/the-coterie-365-st-pauls-terrace-fortitude-valley-e9b9ebb00f5d01c207a46cd635875e43.jpg?itok=gGIH7li4" style="width: 580px; height: 355px;"></a></figure>A prestigious collaboration from award winning design teams at Rothelowman and Bruce Henderson Architects introduces an elegant building silhouette wrapped in a flowing, monochromatic motif, a graphic representation of the connectivity between the two towers, the streetscape and the skyscrapers that border the suburb in the CBD.

Step inside your new one or two bedroom home to find a new brand of luxury with a range of versatile, open plan designs to welcome you home. Glass surrounds bring in the views and connect interior spaces to generous outdoor balconies.

<figure><a class="colorbox colorbox-insert-image" href="/new-apartments/the-coterie-365-st-pauls-terrace-fortitude-valley" rel="gallery-all"><img alt="" class="image-article-full-width-580px" src="/s3/files/styles/article_full_width_580px/public/pictures/article-images/the-coterie-365-st-pauls-terrace-fortitude-valley-a6564ccdc3903419c48eea464c53c47f.jpg?itok=oJnMAXOU" style="width: 580px; height: 254px;"></a></figure>Select apartments feature separate study zones and cavity sliding doors to some bedrooms and bathrooms to enhance light transferral and flexible living options. Designer touches are apparent in every space with the refined treatment of contemporary polished surfaces, textural finishes and confident, monochromatic highlights.

White joinery, smoky mirror splashbacks and sleek finishes invite warmth into the space as well as limestone finish stone benchtops paired with European oak floorboards. Kitchens filled with Miele appliances integrate with the full height cabinetry with the luxury extending into the bathrooms with large format white tiles, a wall basin, frameless shower and refined mosaic tile feature with black tapware to add a touch of elegance and modernity.

<figure><a class="colorbox colorbox-insert-image" href="/new-apartments/the-coterie-365-st-pauls-terrace-fortitude-valley" rel="gallery-all"><img alt="" class="image-article-full-width-580px" src="/s3/files/styles/article_full_width_580px/public/pictures/article-images/the-coterie-365-st-pauls-terrace-fortitude-valley-2cda559c9628bc991c7b3ceb1408f9cf.jpg?itok=1kJmcief" style="width: 580px; height: 534px;"></a></figure>Walls of floor-to-ceiling glazing border each open living design, heightening a luxurious penthouse aesthetic while embracing the sweeping views. An oasis of light and organic textures, each versatile residence becomes a serene retreat from the busyness below then turns into a sophisticated entertainer with multiple places for dining and lounging with friends. 

The site’s original heritage bakery facade and feature interior elements of St Pauls have been carefully integrated into the development to preserve the history of the Valley with a convenient cafe offering a welcoming, local face to the modern community.

The Alfred Place Street front will extend the lively dynamic of the neighbourhood with a contemporary ground level retail presence to engage with the surrounding urban village.

Within, residents will enjoy the exclusive amenities that offer social spaces, a private rooftop retreat atop each tower, landscaped gardens, sun decks, a swimming pool and alfresco entertaining zone.
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urban.com.au

Already completed and ready to move in - The Coterie offers high quality living.

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Invested Australia Property Fund have listed the 11- storey office building located at 757 Ann Street, Fortitude Valley, to market.
It comes with an expected price guide of in excess of $90 million.
Cushman &amp; Wakefield have been appointed to undertake an expression of interest campaign which commences 14 October.
Completed in 2014, the state-of-the-art building comprises 9,422 sqm of A grade office space. 
The building is fully-leased with a weighted average lease expiry of about five years. 
The property’s strong income profile is supported by the anchor tenant - multi-billion dollar technology company, Asea Brown Boveri.
The building occupies a corner position on Ann Street, one of Fortitude Valley’s main thoroughfares, and Morgan Street. 
Brisbane’s renowned rooftop bar, Bar Eleven, is also located on the top floor.
The building is located just one kilometre from Brisbane’s CBD in the tightest-held Brisbane fringe market, the Urban Renewal precinct. 
According to Cushman &amp; Wakefield research, vacancies in the area have dropped from 14.2% to 12.1% between January 2019 and June 2019.
Cushion &amp; Wakefield’s Joint Head of Middle Markets, Peter Court said the entire commercial component of the asset is structured on a net lease basis, providing smooth, predictable cash flow for investors. 
“This, combined with the building being 100% leased, a multi- billion dollar blue chip anchor tenant, and a strong local office leasing market adds to the attractiveness for prospective buyers that are chasing diminishing yields in other asset classes.”
The A-grade tower was designed by Nettleton Tribe and completed in 2014.
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j.ballantyne1990-6AQqhLzZaK

Fortitude Valley office site listed for over $90 million

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The GPO Hotel in Queensland's Fortitude Valley has been offered to the market through an expressions of interest campaign.
Currently operating as a nightclub it is described in the listing as a "long term lease prospect (4 x 10 years)."
Glen Price of HTL Property is marketing the listing.
Situated at 740 Ann Street the expressions of interest campaign closes on June 5.
The property holds a commercial hotel license. 
<div>Set on a 956 sqm plot the property has a total floor area of 1,850 sqm.</div>
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 It is in close proximity to Brunswick Mall, Howard Smith Wharf precinct, Valley Metro redevelopment and 2 km from the Brisbane CBD.</div>
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<div>Last sold in 2016 the property traded for $5,250,000.</div>
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Fortitude Valley's GPO Hotel offered to market

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The Sydney based property tycoon Lang Walker has abandoned plans to build a $400 million office tower in Brisbane’s Fortitude Valley.
Fund manager EG has bought the site at 801 Ann Street from Walker Corporation for $27.72 million.
Walker paid $22.2 million in 2015.
Designed by COX Architecture, the proposed tower (above and below) consisted of 46,659 sqm of gross floor area (commercial and retail).
<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/2019/4/11/Ann-St3.jpg" alt="">
Walker general manager for Queensland development Peter Saba had previously believed the tower would raise the bar for commercial property.
A previous development application was lodged for the site by Walker Corporation in December 2014 which consisted of two 19 and 23 storey residential towers.
In mid-2017 Saba said the slowdown in the inner-city high-rise residential market due to oversupply had been behind the decision to scrap the residential towers plan.
"The outlook for the commercial property sector is brighter," Mr Saba said at the time.
<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/2019/4/11/Ann-St2.jpg" alt="">
The asset will be acquired for the Yield Plus Infrastructure No.2 fund which was launched in August 2016 with a $750 million real estate mandate. 
Ann Street, Fortitude Valley is the 8th asset to join the fund which has now acquired approximately $330 million of assets across Australia. The fund strategy is to acquire yield producing real estate with repositioning potential, near new or upgraded infrastructure.  The transaction was brokered off market by Seb Turnbull of JLL Brisbane.
EG associate director capital transactions, Sean Fleming noted the island site allowed "a number of opportunities to enhance the value of the asset over the long term." 
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Backflipping tycoon Lang Walker finally quits Brisbane’s Fortitude Valley

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A historic Fortitude Valley property was sold at recent auction where eight registered bidders competed for the Les Bubbles building.
Located at 144 Wickham Terrace bidding for the property doubled the starting bid of $800,000.
After 50 bids the property sold for $1.63 million to a Queensland investor.
The site of the once notorious Bubbles Bath-House, illegal casino and massage parlour at the centre of the Fitzgerald Inquiry is fully tenanted over two leases.
Both leases have five years remaining on them and the building contains the Les Bubbles restaurant, as sell as a bar in the basement level and massage therapy on the upper level.
<img src="https://www.urban.com.au/images/2018/11/19/Bubbles%202.JPG" alt="">
Set on 238 sqm the property came with a net leasable area of 543 sqm over three levels.
The property currently has a $91,246.87 p.a. return and the yield on the holding is 5.6 per cent.
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Bidding war for historic Les Bubbles building

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Two developers have joined forces for a new $40 million Fortitude Valley development.
Pellegrino Group Australia (PGA) and Mosaic Property Group will work together on the commercial and retail building, The Eminence, which was designed by Justin O’Neill of O’Neill Architecture.
The six-level A-grade building  to be built at 89 McLachlan Street will offer 3,500 square metres of commercial space and 305 square metres of retail space. 
Construction is set to commence mid-November 2018 with completion estimated for late 2019.
Pellegrino Group Australia Director Paul Pellegrino says both PGA and Mosaic Property Group are excited by the project.
“The Eminence has been specifically designed to provide optimal work-life balance with inspiration taken from co-working spaces to make it a flexible corporate environment for years to come,” Pellegrino said.
“It’s a boutique building that’s built to give those businesses with a smaller footprint in Brisbane, bigger exposure – something larger corporate buildings generally can’t offer.” 
Both developers will take up office space in the building.
Mosaic Property Group Founder and Managing Director, Brook Monahan said the McLachlan Street site was chosen after an extensive two-year search for a new headquarters for their company.
“We had a very stringent set of criteria for the property that would house our team and meet our requirements well into the future,” Monahan said.
“The Eminence was the first property that met this criteria as an asset that we wanted to hold longer term.
 “While the building is cutting edge in terms of design and technology, it is also surrounded by exceptional amenity being in the heart of the James Street lifestyle precinct.
“At the heart of the inner-north Urban Renewal precinct the area is full of life and energy and has significant room for continued market growth.
“We also felt that the Pellegrino Group was an excellent fit as a JV partner because of their shared values as an organisation.”
Two levels of the office building remain available for lease through agents Gerry Leyden and Michael Skaparis of CBRE and Alex Cameron and Sam Barr of JLL.
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Pellegrino Group Australia and Mosaic Property Group announce joint Fortitude Valley venture

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A Brisbane warehouse offering in Fortitude Valley has been sold for $2.7 million.
Listed as a trophy home blank canvas, it is set over three expansive open plan levels with approvals for a fourth level.
There is 377 square metres of internal floor area per level.
Access is via two street frontages, Wickham and Little streets.
The brick walls have that wear and tear too them that only time can render, Belle listing agent Ivo Kornel said.
"Build your dream New York Loft, walk out the front door and enjoy the buzzing nightlife," he suggests.
But likely options potentially include a night club, hotel and or a place for work.
It last sold at $1,825,000 in 2014.
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Fortitude Valley warehouse with night club or hotel conversion potential sold

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A large format retail (LFR) portfolio with assets in New South Wales and Queensland is set to hit the market. 
Listing agent Simon Rooney, JLL’s Head of Retail Investments – Australasia, says that LFR assets offer attractive yields and suggest they are less likely to encounter disruption from online competition.
The assets included in the portfolio up for grabs are: Homemaker The Valley, Fortitude Valley, QLD (pictured above); Homemaker Lake Haven, NSW; Homemaker Greenway &amp; Greenway Plaza, NSW and Homemaker Prospect, NSW. 
 “The LFR sector has clearly benefitted from high growth in residential construction and household turnover,” Rooney said.  
LFR assets offer value-add opportunities such as future redevelopment and high-yielding cash flow, he said.
“The diverse range of tenants and use-types in the assets have transformed them into much more than traditional homemaker centres,” Rooney said.
“ The introduction of gyms, food and lifestyle uses have enhanced customer foot traffic and responded to the strong consumer trend towards health and well-being.
“Last year was a record year for LFR, with over $1.6 billion in transaction volumes recorded – boosted by the sale by LaSalle of Home Hub Castle Hill and Home Hub Marsden Park for $436 million to Aventus in May 2017.
“The LFR sector will benefit from the proposed planning reforms by the NSW Government,which plan to expand the use-types that can operate in LFR zoning and relax the requirements for loading facilities, bringing it in line with VIC and QLD.”
The portfolio will be offered for sale via a formal international expressions of interest campaign, closing 14 June 2018.
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