ASX-listed developer Cedar Woods is progressing its plans for its Southbank arts precinct site.&nbsp;

The developer has filed plans, which are now with the&nbsp;Department of Transport and Planning, for a new 20-level tower at&nbsp;<a href="https://www.apartments.com.au/new-apartments/141-151-sturt-street-southbank-vic-3006">141–151 Sturt Street</a>, a 2,718 sqm block opposite the Habitat Filter sculpture.

The proposal seeks to demolish the two-level&nbsp;commercial building, including a small supermarket and medical tenancies, and create a new building with 180 apartments and a focus on an&nbsp;active public realm and arts integration.

&nbsp;

<img alt="Southbank site" data-entity-type="file" data-entity-uuid="76a72db6-91ef-43ae-827d-a9cfa72893d2" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Site.png?VersionId=DZgtB4K6BswVh0QtCs3iLjXaLp0CbcEb" />

&nbsp;

There will be a full mix of apartment configurations, including 28 studio apartments, 16 one-bedroom, 104 two-bedroom, and 32 three-bedroom units.

Retail, creative arts, and residential amenity functions are integrated across the lower levels. A food and drink tenancy is planned to front Dodds Street, while a retail tenancy fronting Sturt Street will be accessed via an elevated walkway. The first floor includes a substantial 734 sqm creative arts space, envisioned to support Melbourne’s growing cultural and digital industries.

Architecture firm <a href="https://www.apartments.com.au/architects/rothelowman">Rothelowman</a> has put together the plans. In their&nbsp;Urban Design Report they highlighted the project’s ambition to embed itself within Southbank’s evolving cultural fabric.

A central feature of the design is a through-block link connecting Sturt and Dodds Streets, landscaped with native plantings and embedded with universal access ramps.

“The ramp has been thoughtfully integrated as the primary access point, ensuring universal accessibility for all users,” the report noted, with the link offering “a direct response to the urban planning scheme of creating more green spaces within our communities”.

<img alt="Southbank podium" data-entity-type="file" data-entity-uuid="4d24b1b2-d69c-4a11-a11d-ec6df432221c" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/podium.png?VersionId=geWoJyZDmPSLODZ_.PNJ0LvpOmyyCdpo" />

The building’s podium form responds to the mandatory height limits along Dodds Street and maintains a fine-grain interface to adjoining developments. Above the podium, the tower is articulated with recessed balconies and a focus on views toward the CBD and surrounding arts institutions. A communal rooftop recreation deck and indoor lounge are positioned on level four, adjoining seven apartments and providing over 900 sqm of resident amenity space.

Vehicle access and loading will be provided via Dodds Street, with 155 resident car spaces located across two basement levels and the first three above-ground floors. Bicycle storage is more generous, with 226 spaces distributed across resident, staff and visitor needs.

Rothelowman describes the architecture as “humanist,” with ground-level interfaces designed to encourage social interaction and provide a dignified entry for both residents and passers-by. “All street interfaces are crafted to invite and nurture human connections,” the design report states. “The façade transitions to a human scale, providing an approachable and engaging streetscape”.

Cedar Woods, while well-known for its large communities it develops outside of Australia's capital cities, they have recently developed in Melbourne's inner-ring before. They are approaching completion at <a href="https://www.apartments.com.au/new-townhouses/88-leveson-north-melbourne-88-leveson-street-north-melbourne-vic-3051">88 Leveson</a>, just 15 townhouses in the heart of North Melbourne.

Joel Robinson

Cedar Woods progresses with new apartment plans in Southbank arts precinct

Brisbane developers Core Property Partners and Vector Property Australia has teamed up for Brisbane's newest apartment development.

The duo identified <a href="https://www.apartments.com.au/developments/east-brisbane-qld-4169">East Brisbane</a> as their preferred suburb, on the fringe of the Gabba Precinct, where they've just revealed BANKSII, 72 apartments opposite Raymond Park.

[smartcode_project:default project_id=136432 project_image_fid=5481]

The one-, two-, and three-bedroom apartments will sit in a glass-wrapped building that will also feature a rooftop with an&nbsp;infinity-edge pool, a BBQ area and alfresco dining spaces, sun lounges, and a sauna, as well as a resident-only gym and a ground-floor cafe.

Rhett Williams, Director of Vector Property Australia, said the project will lift the quality of the East Brisbane community and set a new benchmark.

"In Brisbane’s current property landscape, <a href="https://www.apartments.com.au/new-apartments/banksii-east-brisbane-169-wellington-road-east-brisbane-qld-4169">BANKSII</a> stands out through its emphasis on lifestyle-oriented living, connectivity and sophisticated design," Williams says.

[smartcode_project:default project_id=136432 project_image_fid=5479]

The 10-level building has been designed by MAS Architecture. Their designs were inspired by the native Banksia flower, with the architecture and interiors reflecting the organic symmetry of its namesake flora. MAS has interpreted this throughout the building’s curved form, façade detailing and interior palette.&nbsp;

The building’s flowing geometry and natural tones are complemented by large balconies and floor-to-ceiling glazing, maximising cross-breezes, daylight and views over the city, parklands and river.

“Having a strong narrative for a building helps us architecturally,” MAS noted. "We can choose colours that come off that species of flowers. The trunk and the trees and the flower elements all are now visible in our joinery on the inside and in our architectural finishes on the outside."

[smartcode_project:default project_id=136432 project_image_fid=5485]

Apartments will feature timber floors, soft porcelain tiles, brushed bronze fittings, and stone benchtops with warm veining.&nbsp;

Kitchens feature premium SMEG appliances and generous storage, while bathrooms have been designed as calming retreats with curved cabinetry and twin sinks in the master ensuites.

The building will feature a suite of rooftop and wellness amenities. Residents will have access to an infinity-edge pool, BBQ and alfresco dining areas, sun lounges and a rooftop sauna.&nbsp;

A residents-only gym will be located on the podium level, while a ground-floor café and landscaped laneway will further activate the site and improve neighbourhood connectivity.

[smartcode_project:default project_id=136432 project_image_fid=5488]

BANKSII will rise from a prime Wellington Road site, with the building oriented to overlook the adjacent Raymond Park and take in extensive city views. It is also on the doorstep of key&nbsp;lifestyle infrastructure, including the future Kangaroo Point Green Bridge, The Gabba stadium, and the planned Brisbane Live arena.&nbsp;

Public transport options, including ferry, bus and rail - including the future Cross River Rail Woolloongabba station - are all nearby, supporting a car-optional lifestyle just minutes from the CBD.

Williams said the team spent over a year searching for the ideal site before securing this location.

"We were attracted to <a href="https://www.apartments.com.au/developments/east-brisbane-qld-4169">East Brisbane</a> as it is a vibrant and growing community that offers a perfect balance of urban convenience and natural beauty with the parklands and river on our doorstep.”

The project is part of the broader Woolloongabba Games precinct, which is undergoing significant investment in the lead-up to the 2032 Brisbane Olympics. This urban renewal, coupled with infrastructure upgrades, is expected to enhance long-term liveability and capital growth in the area.

Given the wide max of configurations, BANKSII is expected to suit everyone from first home buyers and investors to families and downsizers.

[smartcode_project_cta:default project_id=136432]

BANKSII sales launch in booming East Brisbane apartment market

The Minns Labor Government will deliver Sydney’s first new heavy rail station in more than a decade – enabling up to 10,000 new homes by rezoning land around Woollahra and Edgecliff stations, right next to the CBD, to tackle the housing crisis and rebalance growth across the city.

Recent reports by the NSW Productivity Commission have warned that Sydney is losing twice as many young people as it is gaining, while also finding that Woollahra is the most feasible Local Government Area (LGA) in New South Wales to build new housing.

Despite this, housing approvals in Woollahra consistently lag well behind other LGAs, and the population has declined by 11 per cent over the past 50 years while Greater Sydney as a whole has grown by 74 per cent.

The new station that will be an eight-minute trip from Sydney CBD, will be located on the Eastern Suburbs train line in Woollahra, where a station build was started in the 1970s but never completed.

To enable the delivery of new homes the NSW Government will lead a rezoning of Woollahra and Edgecliff stations similar to other state led rezonings to allow additional homes to be built around the stations.

Affordable housing will also make up a proportion of development on the site with the final amount of affordable housing required, to be determined as part of the rezoning process.

The area surrounding the new station is within walking distance of major green and recreational space including Cooper, Trumper, Rushcutters Bay and Centennial Parks.

The Eastern Suburbs train line between Bondi Junction and Sydney CBD also has the lowest passenger usage rates during the AM peak of any line on the Sydney network, with only 43 per cent of operating capacity during the AM peak currently being utilised by passengers.

Sydney Water and Infrastructure NSW have confirmed there is capacity in the water and wastewater systems to accommodate the proposed 10,000 dwellings without major upgrades.

The rezoning is expected to take around two years and will further support the Government’s housing targets that rebalance the delivery of new homes around existing infrastructure.

&nbsp;

&nbsp;

Next stop Woollahra train station - delivering up to 10,000 new homes in the heart of Sydney

<section data-element_type="section" data-id="b086848">
Fresh off completing its mixed-use Malvern project Malvern Collective, Kokoda Property Group has acquired a prime site on Richmond's Bridge Road.

They are planning a mid-rise residential development with&nbsp;integrated wellness amenities and a vibrant ground-floor retail and dining offering.

The site, at&nbsp;487–495 Bridge Road, spans&nbsp;1,650 sqm with 50 metres of dual frontage across Bridge Road and Palmer Street. It is currently leased to Adairs, and has a large retail building and 20 onsite car parks.
</section>

<section data-element_type="section" data-id="534a164">
Kokoda Property Group’s acquisition forms part of a broader phase of growth in Melbourne, building on momentum from the completion of Malvern Collective and the recent purchase of a Burnley Street site for the developer’s first commercial project.&nbsp;

Mark Stevens, Kokoda Property Group’s Founder and Managing Director, said that the company’s Bridge Road site acquisition signals confidence in a city that is re-accelerating.

“Melbourne is regaining momentum,"&nbsp;Stevens said.

"After a cautious period post-COVID, we’re seeing buyer sentiment stabilise and capital leaning back into well-located, quality projects. Victoria now benefits from deep builder capacity and competitive delivery pricing, creating a rare opportunity to bring design-led inner-city developments to market without compromising on craftsmanship.

“Richmond ticks all the boxes for us – connectivity, culture and everyday amenity – making Bridge Road the perfect address for an amenity-rich, multi-use development."

<img alt="Kokoda" data-entity-type="file" data-entity-uuid="9a8de51d-8092-480a-8b7e-e081816692c2" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202025-08-29%20at%208.54.27%E2%80%AFAM.png?VersionId=VRHpV5.6beOu2cieKHWrw3ErMPuVOAuj" />

Envisioned as an “urban lantern” the building will bring a distinctive new presence to Bridge Road with a sculptural retail frontage, designed to honour the street’s heritage character while contributing to its renewal.

Stevens said the acquisition reflects the developer’s commitment to design-led addresses in Melbourne’s inner city.

“Drawing on Richmond’s rich heritage and dynamic character, we’ve envisioned a contemporary building that respects the past while elevating the way people live today. With dual frontages, curated ground-floor spaces, and a focus on wellness, this project will contribute to the neighbourhood’s evolution, appealing to both downsizers and a new generation of professionals.”

Kokoda Property will now progress concept design ahead of a future planning process.
</section>

Mark Stevens, Kokoda Property Group’s Founder and Managing Director, said that the company’s Bridge Road site acquisition signals confidence in a city that is re-accelerating

First look: Kokoda secures Richmond site for new apartment development

Gold Coast developer Drew Group is fast approaching sell-out at its Main Beach apartment development, Lagoon Main Beach.

In the last nine months, Drew Group and sales partner Pezet Matheson have secured 31 sales totalling over $75 million, as the two-tower development advances towards completion under the expert eye of Hutchinson Builders.

“Today's buyers are more discerning than ever," Drew Group Managing Director Jon Drew says.

"It's essential to provide something truly unique that sets a development apart, and we believe Lagoon has achieved just that."

[smartcode_project:default project_id=108747 project_image_fid=193023]

Just over 50 per cent of recent&nbsp;sales have been to local buyers, reflecting the deep trust and connection within the Gold Coast community that Drew Group has developed over the years.

Demand has been particularly robust at the top end, with two of the three exclusive penthouses already sold, alongside five sub-penthouses. Only seven apartments remain in Lagoon's Signature Series — one&nbsp;penthouse and six sub-penthouses.

[smartcode_project:default project_id=108747 project_image_fid=284864]

Drew Group has also removed the much-maligned sunset clause from all contracts at Lagoon. The sunset clause — although rarely invoked, yet on occasion known to have been — allows developers to take back contracts on apartments should the building not be completed within the timeframe specified in the contract.

Pezet Matheson Co-Director Jayde Pezet says the fact Lagoon is&nbsp;within a year of completion, and has no sunset clause in contracts, provides certainty to buyers.

"This is paramount in the current market," Pezet says.

Drew Group has committed to providing the highest level of security inclusions — none more impressive than the Ubiquity Access Control System, a cutting-edge facial recognition technology that is one of the most state-of-the-art keyless entry systems on the market.

[smartcode_project:default project_id=108747 project_image_fid=190743]

One of the biggest drawcards to Lagoon has been the size of the apartments.

"It is unlikely that any future new development in Main Beach will be able to offer such spacious living at this price point," Drew says.

"Today's buyers are more discerning than ever, carefully evaluating amenities like gyms, spas, workspaces, and beach lockers, along with quality finishes. It's essential to provide something truly unique that sets a development apart, and we believe Lagoon has achieved just that."

Lagoon is set to complete construction in mid-2026.

[smartcode_project_cta:default project_id=108747]

Lagoon Main Beach approaches sell-out as local buyers drive $75m in sales

Investment Market

<html><body>
Since bottoming out in 2011 and 2012 in all states, upgrader demand has strengthened over the last four years and continues to rise, according to QBE's latest housing report.
Upgraders and downsizers have historically represented the largest component of residential demand, being 43% of total residential lending activity in the past 15 years.
This represents two to three times the size of the first home buyer market.
In the year to June 2016, growth in the number of loans to upgraders was 7.1% nationally.
However, upgrader demand varies by state.
Victoria, New South Wales, South Australia, Australian Capital Territory, Queensland and Tasmania saw growth in loans to upgraders during 2015/16.
In contrast, in Western Australia and the Northern Territory the number of loans to upgraders declined in 2015/16, following on from declines in the previous year. Similarly, upgrader loans declined in Tasmania in 2015/16, although this was after growth in 2014/15.
In Western Australia, there was a less significant decline in loans in June quarter 2016, suggesting that the pace of decline is slowing and the market will soon bottom out, whereas in the Northern Territory the number of loans to upgraders experienced a greater annual decline in June quarter 2016.
<a href="/images/2016/10/13/Chart%206.jpg" target="_blank">Click to enlarge</a>
<img src="/images/2016/10/13/Chart%206.jpg" alt="">
The ABS provides data on residential investment in terms of the value of total loans rather than the number of loans. As a result, changes in the value of loans over time reflect a change in values for property and purchaser volumes.
All states reported double digit decreases in lending for residential investment in 2015/16 after strong annual rises up to the peak in 2014/15. Year on year declines were still being recorded in June quarter 2016.
Investment lending in Victoria, Queensland, Western Australia and Tasmania recorded the smallest annual decline in investment loans in 2015/16.
The Northern Territory and South Australia recorded the highest decline in lending for residential investment during 2015/16.
<a href="/images/2016/10/13/Chart%207.jpg" target="_blank">Click to enlarge</a>
<img src="/images/2016/10/13/Chart%207.jpg" alt="">
</body></html>

j.ballantyne1990-6AQqhLzZaK

Upgraders dominating residential lending activity: QBE Housing Outlook

<html><body>
Turkish investment trust Nurol REIT has chosen Raine &amp; Horne Dubai as its lead agency to market an extensive AED 3 billion (AUD $1.12 billion) Turkish real estate portfolio to Gulf Cooperation Council (GCC) states.
Nurol REIT is a US$25 billion (A$34.76 billion) business conglomerate, and is significantly involved in Dubai’s Jumeirah Park and Jumeirah Village Triangle, and Saadiyat Island in Abu Dhabi.
The property portfolio, located in Istanbul, Turkey, includes Nurol Life, a luxury residential apartment tower in the heart of the city and a mixed-use community Nurol Park close to Ataturk Airport.
Nurol Park is classified as prime Istanbul real estate and comprises two commercial buildings, eight residential towers and a hotel.
The third asset, Nurol Tower, is located next to Istanbul Court and comprises affordable residential and office properties. 
“The decision to appoint Raine &amp; Horne Dubai as the lead agency makes plenty of sense, as a large chunk of Turkish real estate sold to foreign buyers is purchased by GCC investors,” said Angus Raine, executive chairman, Raine &amp; Horne.
Since the liberalisation of the foreign investment laws in Turkey in 2012, GCC investment in the country's property sector has risen by 500%, while the Gulf states account for nearly a quarter of the foreign buyers, at 24%, according to Dubai-based property research firm, REIDIN.
“High capital growth and great investment propositions, combined with a raft of important future infrastructure projects and secure legislation and regulation, means Turkey is a key market for property investors, and our buyers in the Gulf are demonstrating their confidence in Istanbul's healthy property market," said Sanjay Chimnani, Joint Managing Director of Raine &amp; Horne Dubai.
</body></html>

Raine & Horne to market Turkish property portfolio to GCC

<html><body><div class="page" title="Page 53">
<div class="section">
<div class="layoutArea">
<div class="column">
The residential investment market appears to be more incidental than dedicated, was how valuation firm Herron Todd White described the Perth suburb Esperance.
Its month in review suggested that typical investors vary from goldfields based owners having their coastal getaway to local people upsizing and being able to retain their current property to generate some rental income.
It went on to add that local farmers also have town properties for either their own use or as an off farm investment.
As with most areas, returns also vary with the higher returns associated with higher risk. 
"At the lower end of the residential market, Nulsen is hard to go past as a starting point for entry level homes providing affordable housing and higher returns on investment.
"For less than $200,000 a fairly comfortable home can be picked up with loan payments generally less than rent and at least there is a starting point for property ownership.
"From an investment perspective, the home you can purchase under $200,000 could generate $250 to $280 per week in rental income which gives a far better return than the next market level that would see you outlay around $100,000 more for probably only $20 to $30 per week extra in rent."
The HTW report offered the reason the area is so cheap and in fact is probably the most affordable housing in the region, is the history of state housing and some antisocial behaviour. However, primary and high schools are within walking distance as are neighbourhood shopping facilities.
"The Esperance town centre provides regional shopping and health and recreational services are less than three kilometres away at the furthest point.
"This area struggled for sales during 2011 and 2012 with a turnaround in volume and values in the latter part of 2013 and into 2014. 2015 has seen strong demand as the realisation creeps into the market that this is a very affordable area."
The review said that on a percentage basis, Nulsen is likely to provide the best growth for property at the lower end of the broader market. 
"At the next level, Sinclair and the older areas of Castletown have a variety of property for the purchaser in the high $200,000s into the early $300,000s price bracket.
"The homes are generally reasonable brick and tile about 25 to 35 years old on average and at the point where renovations would lift them to the next level. For the investor, potential rental levels are at the $280 to $320 per week level."
It went on to add that the next level up again is the better quality homes within Castletown and West Beach.
"Typically, these properties are selling between $400,000 and $550,000 and in the current market are returning rentals between $400 and $500 per week.
"From an investor’s perspective, while the percentage return is down compared to the lower valued areas, the potential for a better quality tenant and a property likely to have less maintenance issues combined with stable longer term capital growth is appealing."
</div>
</div>
</div>
</div></body></html>

jrobinson-rf4aSBido9

Esperance investment market more incidental than dedicated: HTW

<html><body>
Brisbane's property market still faces challenges, estate agent John McGrath acknowledges.
His latest research showed price growth did slow to just 4% along the Brisbane to Gold Coast corridor for the financial year.
"The reasons behind this include the lowest net interstate migration in more than two decades; a weak state economy; comparatively high unemployment; and the change of government," he said.
"At a macro level, there’s obviously been challenges.
But he told his Switzer blog readers that drilling down though, some areas are experiencing exciting activity.
Low interest rates were encouraging upgraders in the $1 million-plus bracket in premium areas such as Ascot, Hawthorne, New Farm, Bulimba and Paddington.
"Many are choosing to keep their existing homes in the $500,000 to $1 million bracket for investment.
"First home buyers are also back, buying in affordable suburbs like Mansfield, Salisbury and Belmont where homes are selling faster than anywhere else in Brisbane," he said.
Solid demand and a shortage of homes for sale in some areas pushed Brisbane’s auction clearance rate to its highest level on record (since 2009) at 50% for the year to August.
By comparison, over the same period of the year, Brisbane recorded 46% in 2014, 40% in 2013, 33% in 2012 and 24% in 2011.
McGrath expressed concerns about some Brisbane apartment markets.
"Apartments are a different story, with a rising oversupply in inner city areas like West End, Fortitude Valley, Newstead and Hamilton.
"Buyers are very discerning and only competing for properties with unique features.
"Downsizers are snapping up three bedroom properties but the smaller non-descript options are sitting on the shelf.
He suggested typically, an increasing house price gap between Brisbane and Sydney was pivotal in creating new market energy.
"By August 2015, the gap was $431,500 – the largest gap in dollar terms on record with Sydney house prices 88% higher than Brisbane, according to CoreLogicRP Data.
"As a result, we are now seeing a steady flow of Sydney and Melbourne buyers heading north.
"Southern investors are chasing capital growth and the highest yields of the major capital cities, while young families are seeking affordability and lifestyle."
He said owner-occupiers purchasing Queenslander-style family homes in blue chip areas are paying half what they would in Sydney for an equivalent home.
"Many are leasing these properties for decent yields while they look to secure work before moving here permanently."
</body></html>

Investment Market

Editor's Picks

Have something to contribute?

The latest real estate & off the plan properties & news, delivered to your inbox.

Developments

New apartments

New townhouses

News

The latest real estate & off the plan properties & news, delivered to your inbox.

Investment Market

Editor's Picks

Receive the latest news stories to your inbox

Have something to contribute?

The latest real estate & off the plan properties & news, delivered to your inbox.

Developments

New apartments

New townhouses

News

The latest real estate & off the plan properties & news, delivered to your inbox.