A luxury beachfront apartment at Rainbow Bay has more than doubled in value since it sold off the plan six years ago, setting a new local apartment record in the process.

The three-bedroom apartment in the Flow development on Petrie Street, the first of four new projects locally by Paul Gedoun's S&amp;S Projects, has sold for $7.4 million, after originally selling for $3.27 million when the project launched in 2020.

The seventh-floor apartment, comprising 187 sqm of internal living space and a 54 sqm balcony overlooking Froggies Beach and Snapper Rocks, was purchased by a local family.

The transaction was negotiated by Pezet Matheson director Kerry Pezet and equates to more than $30,000 per sqm.

Pezet said the sale reflected the limited opportunities to buy into the boutique beachfront development.

"The sale highlights the rarity of opportunities within the boutique beachfront development, where residences seldom become available," Pezet said.

"Flow is one of the Gold Coast's most tightly held buildings. Buyers from our database move quickly when residences become available, and achieving an off-market sale at $7.4 million demonstrates the depth of demand for property of this calibre."

<img alt="Flow" data-entity-type="file" data-entity-uuid="c585b206-2130-4eee-a50c-3f27c51a7c70" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-07-06%20at%208.33.25%E2%80%AFPM.png?VersionId=m3pHRDV62Y3fvN.XQuQHq.52ilTWpRLf" />

Flow was the first of four luxury apartment developments delivered by Paul Gedoun's S&amp;S Projects at Rainbow Bay and was completed in 2023.

Positioned on the beachfront overlooking Snapper Rocks, the residence includes three bedrooms, three bathrooms, a powder room and views stretching north along the coastline towards Surfers Paradise.

Pezet Matheson Residential principal Mitchell Lambert said buyers continued to prioritise quality beachfront apartments in tightly held locations.

"Flow Residences offers a rare combination of elevated beachfront positioning, architectural excellence, comprehensive resident amenity and premium finishes, which is exactly what discerning purchasers are seeking," Lambert said.

"The transaction further reinforces Rainbow Bay's reputation as one of Australia's premier coastal lifestyle destinations, where limited supply and growing demand continue to support strong market performance."

Pezet Matheson originally marketed and sold out Flow off the plan, making the latest transaction a return to one of the project's original buyers.

Paul Gedoun is selling his third project, <a href="https://www.apartments.com.au/new-apartments/radia-rainbow-bay-271-boundary-street-coolangatta-qld-4225">Radia Rainbow Bay</a>, after recently completing, and selling out, <a href="https://www.apartments.com.au/buildings/esprit-217-227-boundary-street-coolangatta-qld-4225">Esprit</a>. He has plans for a <a href="https://www.apartments.com.au/news/qld/first-look-s-s-projects-proposes-88-apartment-wellness-tower-at-coolangattas-boundary-street">fourth building</a>, 88 apartments on <a href="https://www.apartments.com.au/new-apartments/209-213-boundary-street-coolangatta-qld-4225">Boundary Street</a>.

Joel Robinson

Rainbow Bay apartment doubles in price since off the plan sale during pandemic

The long-planned transformation of Brisbane's historic Shafston Estate has taken another major step, with Capella Hotel Group announced as the luxury hospitality partner behind what will become Brisbane's first branded residences.

The project, to be known as Capella Residences Brisbane, is being delivered by Verso Projects at the landmark Kangaroo Point riverfront estate, with completion targeted for 2029.

The announcement follows a series of planning changes to the project over recent years. The site was originally approved in 2023 for a 15-level, 37-apartment development designed by Rothelowman for Burgundy Group before Verso Projects took over the 10,070 sqm riverfront holding and lodged revised plans with Kerry Hill Architects to increase the development to a 25-level tower with 51 apartments.

The latest announcement confirms Capella Hotel Group will bring its branded residential offering to the project, marking just the second Capella Residences development globally after Seoul, and the group's first branded residential project in Australia.

The <a href="https://www.apartments.com.au/new-apartments/23-castlebar-street-kangaroo-point-qld-4169">Castlebar Street development</a> will centre around the restoration of the heritage-listed Shafston House, one of Brisbane's oldest residences, originally constructed in 1851 by Reverend Robert Creyke as a single-storey cottage known as Ravenscott.

<img alt="Capella" data-entity-type="file" data-entity-uuid="2b9f4ce5-638f-4d6b-8082-3ca7e4b75fca" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-07-09%20at%207.20.41%E2%80%AFAM.png?VersionId=f7aeqsW_DzOJI4FymWb3lD8NptSfsP7q" />

Capella said the project aligns with its focus on heritage-led developments, with the Brisbane estate combining the restored historic residence with a new luxury apartment tower and hospitality-inspired resident amenities.

Residents will have access to the Capella Living Room, a concierge-led communal space inspired by the group's luxury hotels, alongside landscaped gardens, six swimming pools, wellness and recreation facilities.

The broader estate will also include two riverfront homes, a six-berth private marina, porte cochère arrival experience, secure basement parking and a new section of public riverwalk along the Brisbane River frontage.

The heritage Postal Depot Building will also be retained and repurposed as a guest house, in line with the revised development plans.

The project represents another evolution for the site, which Kerry Hill Architects previously described as a rare opportunity to restore one of Brisbane's most significant heritage estates while creating a new benchmark for apartment living.

"The Shafston Estate provides a once-in-a-generation opportunity to restore one of Brisbane's finest heritage precincts and to reinstate residential use as a unique site perched on the edge of Kangaroo Point," Kerry Hill Architects said in its Urban Context Report accompanying the planning submission.

"The project will celebrate excellence in sub-tropical residential design, setting a new benchmark for vertical living in Brisbane."

Verso Projects, which now has an $8.5 billion development pipeline spanning more than 6,000 dwellings across apartments, townhouses, retail and commercial projects, said the partnership with Capella would elevate the development beyond a traditional residential project.

"We feel honoured to be restoring Shafston Estate to its former glory, elevating it to new heights of luxury and excellence underpinned by Capella's distinctive service ethos and design philosophy, and making it a standout landmark in Brisbane," Verso Projects CEO Steve Laffey said.

"By partnering with Capella, globally recognised for its refined approach to luxury hospitality and deep respect for cultural and historical context, we will elevate this project beyond a residential offering into a world-class destination."

Capella Hotel Group President Roland Fasel said Brisbane's emergence as a global city made it the right location for the company's Australian residential debut.

"Brisbane is a city on the cusp of something remarkable, and Capella Residences is our commitment to being part of that story," Fasel said.

"The Capella residential experience is more than luxury. It is about a sense of belonging to a place with deep meaning."

Private appointments have now opened for the project, with a display suite expected to open in late 2026 ahead of the planned 2029 completion.

Capella to launch Brisbane's first branded residences at Shafston House, Kangaroo Point

Lewis Land's latest apartment release within its <a href="https://www.apartments.com.au/new-apartments/harbour-shores-biggera-waters-564-oxley-drive-biggera-waters-qld-4216">Harbour Shores</a> masterplan is targeting one of the Gold Coast's fastest-growing buyer groups, with almost a third of apartments at Solis priced below $1 million.

The seven-storey building at Biggera Waters will comprise 91 apartments, including 24 one-bedroom residences starting from $778,000, a price point Lewis Land says is aimed squarely at first home buyers struggling to enter the Gold Coast market.

<img alt="Harbour Shires" data-entity-type="file" data-entity-uuid="e7486e37-22f6-4c92-b212-9b0622070b8f" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-07-08%20at%209.09.34%E2%80%AFAM.png?VersionId=W8MJwJUCf6HkIyl_EVSksnd.QI6MZryY" />

<a href="https://www.apartments.com.au/developers/lewis-land-group">Lewis Land</a> Head of Development Michael Long said the developer deliberately allocated a significant proportion of the project to more affordable apartment types.

"First home buyers have been priced out of many parts of the Gold Coast, and we saw a clear opportunity to address this and play our part in a longer-term housing solution," Long said.

"That's why 24 of the 91 apartments being delivered at Solis have been designed and priced for the city's next generation of homeowners, quality one-bedroom apartments, half of which include an additional multipurpose room to maximise space and flexibility.

"This approach places 30 per cent of apartments in Solis under $1 million, and with close proximity to Harbour Town's future light rail extension connecting residents to the city's major employment and knowledge hubs, it's a win for buyers looking to secure their first property."

<img alt="Sores" data-entity-type="file" data-entity-uuid="550526d3-73ba-4710-9739-c5f4294a30ef" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-07-08%20at%209.09.29%E2%80%AFAM.png?VersionId=cQQdXHt9wS0UXwZEm5Py5bH_3kAmzyhu" />

Designed by BDA Architecture, Solis will deliver a mix of one, two and three-bedroom apartments, with residences ranging up to 232 sqm. Apartments feature generous balconies and contemporary finishes, while residents will have access to Harbour Shores' lagoon pool, clubhouse, tennis court, gym, yoga studio and sauna.

The focus on first home buyers resonated with purchaser Holly Humphreys, who said she and her boyfriend spent more than a year searching for their first property before shifting their attention from houses to apartments.

"We fell in love with the first house we bid on and got our hopes up, but after repeated knockbacks we learned not to get too attached," Humphreys said.

"We offered at the high end of price guides, but sales kept going even higher. That's where we really struggled and we needed to re-evaluate our budget and our expectations. Standalone houses were off the table, and we pivoted to apartments and townhouses."

Humphreys said it was encouraging to see developers recognising the growing demand from first home buyers.

"There's a growing number of young buyers looking to enter the market earlier because they understand that getting in now can make a real difference as prices continue to rise," she said.

"It's fantastic to see a developer recognise this and then actively take measures to deliver an apartment with us in mind."

Solis is the first development planned within the second stage of the Harbour Shores masterplan, with early works expected to commence in September 2026.

[smartcode_project_cta:default project_id=113271]

Lewis Land targets first home buyers at latest Harbour Shores release, Solis

Luxury apartment developer Abadeen has recorded $19.25 million in apartment sales across two of its Lower North Shore developments in the lead-up to the end of the financial year, headlined by the sale of a $6.75 million penthouse at <a href="https://www.apartments.com.au/buildings/koyo-crows-nest-5-rodborough-avenue-crows-nest-nsw-2065">KOYO in Crows Nest.</a>

The transactions also included the sale of a newly completed three-bedroom apartment at <a href="https://www.apartments.com.au/buildings/park-residences-cremorne-2-sutherland-street-cremorne-nsw-2090">Park Residences in Cremorne</a> for $6.35 million, with the residence selling shortly after the project's first public inspections following completion.

The sales come as completed, owner-occupier-focused apartments continue to attract strong demand across Sydney's Lower North Shore, particularly from buyers looking for certainty and immediate occupancy.

The penthouse at KOYO spans 491 sqm across a single level and was designed by architect Koichi Takada. The development is one of Abadeen's flagship boutique projects in Crows Nest.

[smartcode_project:default project_id=108800 project_image_fid=370093]

Abadeen Executive Chairman and Founder Justin Brown said buyer activity lifted noticeably in the lead-up to the end of the financial year.

"We saw a clear increase in enquiry levels, inspection numbers and buyer engagement across our completed projects leading into the end of the financial year," Brown said.

"Buyers have become far more decisive over the past six months. The combination of improving confidence, limited supply and the ability to physically inspect completed residences is creating strong competition for premium apartments in the best locations."

Brown says the&nbsp;response to Park Residences following completion has been particularly strong.

"Buyers want certainty and are responding positively to the opportunity to walk through a finished product, inspect the quality firsthand and move in immediately," Brown suggested.

"Projects such as Park Residences and KOYO demonstrate that when the product is exceptional and the location is irreplaceable, buyers are prepared to act quickly."

[smartcode_project:default project_id=114246 project_image_fid=370116]

Abadeen CEO Joe Tack said quality continued to differentiate projects in the current market.

"Today's buyers are incredibly discerning," Tack said.

"They are seeking larger floorplans, premium finishes, walkability, lifestyle amenity and confidence in the developer delivering the project. Well-designed boutique developments continue to outperform because they offer something genuinely difficult to replace.

"The enquiry we are seeing across our completed and recently completed Lower North Shore portfolio is very encouraging, and we expect this momentum to continue into spring."

The sales follow increased enquiry across Abadeen's Lower North Shore portfolio which also includes <a href="https://www.apartments.com.au/buildings/northcote-collective-naremburn-2-northcote-street-naremburn-nsw-2065">Northcote Collective in Naremburn</a> which also completed recently.

KOYO penthouse headlines Abadeen's $19.25 million EOFY sales flurry

The City of Sydney has approved plans for <a href="https://www.apartments.com.au/developers/billbergia">Billbergia Group</a> and Metrics Credit Partners’ $3.5 billion Castlereagh Place project in the heart of the Sydney CBD

The towers will be among the tallest in <a href="https://www.apartments.com.au/developments/sydney-nsw-2000">Sydney</a>'s CBD, with more floors than any other residential tower in the city.&nbsp;

The 6,000 sqm site was acquired by the joint venture partners in 2024. It is the largest amalgamated land parcel in the Sydney CBD and comprises eight individual sites fronting Castlereagh, Pitt and Liverpool Streets.&nbsp;

<a href="https://www.apartments.com.au/new-apartments/castlereagh-place-sydney-324-348-pitt-street-sydney-nsw-2000">Castlereagh Place</a> will transform an underutilised city block into a landmark mixed-use destination, anchored by two 82-storey towers comprising 607 luxury residences above an 8-level podium housing a 209-room luxury hotel. A 1,000 square metre civic park on ground level features a curated mix of food, beverage and retail.

The plans have been refined over the past year to rebalance the residential and hotel offering, and reconfigure the retail footprint to create a stronger, more dynamic dining experience.

A three-level flagship building on the prominent corner of Pitt and Liverpool Streets will be the gateway to the Castlereagh Place lifestyle precinct. Set to become a Sydney icon, the building is capable of housing multiple hospitality venues.

“Castlereagh Place is designed to be the City's next great urban oasis - an energetic mixed-use precinct that pulses with life, day and night,"&nbsp;said Joseph Kinsella, Group Director of Billbergia.

"It will bring the vibrancy of places like Barangaroo and Darling Quarter into a more accessible, central destination at the very heart of Sydney."

Kinsella said the project will build on&nbsp;Sydney’s growing laneway culture with the City’s largest network of new activated lanes - an expanded, next-generation take on precincts like Angel Place, Palings Lane and Ash Street in Wynyard.

[smartcode_project:default project_id=134477 project_image_fid=374401]

Castlereagh Place has been designed by architects <a href="https://www.apartments.com.au/architects/fjc-studio">fjcstudio</a> in collaboration with Trias Studio, Aileen Sage and Polly Harbison Design, joint winners of an international design competition in 2018.&nbsp;

Signature design elements from the original scheme remain unchanged, while the public domain has been significantly enhanced, delivering 60 per cent more open-to-sky space.

Pedestrian access will also be enhanced through new laneways linking Pitt, Liverpool and Castlereagh Streets, drawing people into a new civic park with outdoor seating, landscaping and integrated public art.

With activated laneways supported by strong hospitality offerings, Castlereagh Place is tipped to become a vibrant new dining destination in the heart of Sydney’s CBD.

It marks the largest undertaking to date for the Billbergia and Metrics Credit Partners partnership. Together they are developing other underutilised Sydney sites into mixed-use precincts, including the $2.2 billion Concord Central and the $1.3 billion Chatswood Grand Residences.

Metrics Managing Partner and Group CEO Andrew Lockhart said Castlereagh Place is a landmark project that will redefine Sydney’s skyline.

"As the tallest residential high-rise development, the revitalised site will offer panoramic views across the CBD and surrounds. We are excited to partner with Billbergia to reinvigorate an underutilised site and create a sophisticated and contemporary mixed-use offering situated in the heart of Sydney.”

Total apartments within the towers have increased to 607 dwellings, with a focus on larger floorplans. Aligned to growing market demand, Castlereagh Place now comprises 299 three-plus-bedroom apartments, 198 two-bedroom units and 110 one-bedroom configurations.

[smartcode_project:default project_id=134477 project_image_fid=374402]

Resident amenities will include an exclusive residents club containing a gym, rooftop pool, dining rooms, co-working spaces, library, golf simulator, games room, cinema room, and access to an exclusive concierge service. There will be around 500 basement car spaces below the towers.

The development will also include a state-of-the-art wellness centre, set to feature a bathhouse with magnesium pools, hot/cold plunge pools and premium amenities.

&nbsp;

According to fjcstudio, the towers will feature distinctive yet elegant architectural design reflecting Sydney’s geometry and urban character, with a network of through-site links and intimate public spaces activating the streetscape.

"Castlereagh Place is a city-making project of significant scale and ambition," said Richard Francis-Jones, Design Director at fjcstudio.

"It will create a rich urban complex of public open spaces, landscaped gardens, and vibrant laneways. Defining these new public spaces and the important streetscape of Castlereagh Street is a sequence of fine-grained, diverse retail and hotel architecture designed in collaboration with Aileen Sage, Polly Harbison Design and Trias.

“Rising above the tree-lined, human-scale streetscape are two slender residential towers that will transform the city skyline and look towards the Harbour, Hyde Park, and the Royal Botanic Garden.”

Demolition and early construction works have commenced onsite at Castlereagh Place.

[smartcode_project_cta:default project_id=134477]

Billbergia, Metrics, approved for $3.5 billion Sydney skyscrapers

New Developments

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The construction of a new eight storey mixed use Pyrmont development, comprising a residential flat building and ground floor commercial premises has been proposed by property developer Denis O'Neil.
The cost of works were calculated in accordance at $7,260,000.00 including GST. The proposed development will provide 13 residential apartments if accepted by Sydney City Council.
The site is located at <a href="http://addenbrooke.com.au/collections/67-69-murray-street-pyrmont/" target="_blank">67-69 Murray Street</a>, on the corner of Bunn Street and Murray Street.
The site is rectangular, with an area of 291 sqm. The site, which holds a convenience story, last traded at $3.4 million in 2002. There is no paperwork showing  any recent transfer to Addenbrooke. 
Surrounding land uses are a combination of residential and commercial, including multistorey residential development, and significant tourist accommodation.
The site is separate to, but contiguous, with a group of warehouse buildings, with the two buildings furthest to the north being heritage listed (47-49 and 51-53 Murray Street).
SJB Architects say their proposal responds "sympathetically to the surrounding urban grain and form."
The developer's website says “Murray Street” is a super high end boutique development of only 13 apartments set in the heart of Pyrmont. The building is set on a corner boasting 270 degree views with a glass façade wrapping the building. Construction is set to take place in November 2018."
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Addenbrooke, which has become an O'Neil family business, previously developed apartments at <a href="http://addenbrooke.com.au/collections/goldsbrough-copy-3-copy-copy/" target="_blank">the Goldsbrough Mort woolstore at Pyrmont</a> in the late 1990s.
Addenbrooke has developed some of Sydney’s most prestigious properties spanning over 3,500 apartments, retail precincts and commercial buildings..
The O'Neil family know Pyrmont well since founding nearby Hymix Concrete, the largest private quarrying, transport and concrete business in Australia in 1956 which was sold to Pioneer, now Hanson. in 1998.
Following of Hymix Concrete, Denis focused his attention on property development, establishing Addenbrooke Pty Ltd.
Addenbrooke’s baton has been taken up by Denis’s three son’s Ned, Jake and Toby.
 
 
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jchancellor-FAypfDUnLy

Denis O'Neil's Addenbrooke is back with a Pyrmont residential project

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Oversupply concerns has prompted developer Lang Walker to ditch his proposed 70-storey apartment project at Parramatta.
He plans for it to become an 55 storey office tower.
"There's a lot of residential proposed and, with the banking sector tightening up in regards to residential apartments, quite a lot of those proposals won't get off the ground," he told The Australian.
"We wouldn't want our project to be among those," he added.
An earlier ambitious application for 90 storeys, lodged after consultation with the Civil Aviation Safety Authority, did not proceed (above and below).
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In June 2015, the NSW state government approved Parramatta City Council’s request to raise height limits for the Parramatta Square urban renewal project, taking the Aspire tower a step closer to a height of 306 metres.
In 2014, a group of aviation authorities and organizations suggested it could impede take-off and landing corridors used by planes.
Architecture firm Bates Smart beat three other competitors to win the right to design the skyscraper, which was set to be the tallest residential building in NSW.
The proposed residential tower was to have an end value in excess of $500 million.
It was to be key to the $2 billion re-development of Parramatta Square which is are now well underway.
Walker Corporation was already planning two A-Grade neighbouring commercial towers, designed by architects Johnson Pilton Walker.
Once built, the newly proposed 243m-tower will be Sydney’s third tallest commercial building, behind Chifley Tower at 244m and Citigroup Centre at 243m in Sydney CBD.
 
 
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jonathanchancellor-7SQnKwU6yx

Timber! Lang Walker scraps Aspire Tower, Sydney's tallest apartment proposal at Parramatta 

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Sunshine Plaza has lodged a development application with Sunshine Coast Council for a high ropes course as part of the $400 million redevelopment currently underway.
On completion, Sunshine Plaza will be home to the first and largest high ropes course at a major regional shopping centre in the country, incorporating a 21-metre-high viewing deck and ten zip lines with the longest one at 130 metres across Cornmeal Creek.
Lendlease Head of Retail Gary Horwitz said in a constantly evolving retail market, being agile and responsive to customer needs was critical to retail shopping precincts thriving in the future.
“The high ropes course brings a future dimension to the shopping experience with an experiential entertainment offer that will attract locals and visiting tourists.
“The future of retail is bright. Sunshine Plaza is situated along Cornmeal Creek and customers want to enjoy places that offer a broad range of experiences in vibrant coastal environments.
"Delivering exciting new entertainment and leisure activities will enhance the connection with the creek and bring a full day of adventure and fun to the centre," he said.
Visit Sunshine Coast’s Chief Executive Officer, Simon Latchford said the high ropes addition embraced the Coast’s adventurous spirit along with its love for the outdoors and nature.
“This exciting addition will further enhance the Sunshine Coast’s tourism offer and provide a long-term boost to the local economy,” Mr Latchford said.
Adventure high ropes specialist, Trees Adventure will design and operate one of the first ever shopping centre high ropes courses in Australia. The unique design will capture Cornmeal Creek’s natural beauty and have a strong visual connection to the new Cornmeal Creek casual dining precinct. The course will include easily changeable and sustainable challenges with minimal ongoing environmental impacts.
Commencing its expansion in late 2016, the $400 million redevelopment of Sunshine Plaza will see the centre expand from 73,000 square metres to over 107,000 square metres becoming the largest retail centre north of Brisbane. The centre will house an enhanced retail mix with the region’s first David Jones department store, a new BIG W, a refurbished Myer, and over 100 new specialty stores.
For further information about the Sunshine Plaza redevelopment, <a href="https://www.sunshineplaza.com" target="_blank">click here.</a><a href="http://www.sunshineplaza.com"> </a>
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jrobinson-rf4aSBido9

High Ropes adventure planned for Sunshine Plaza

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The Moonee Valley Racecourse is set for a $2 billion redevelopment, turning the night racing venue into a dynamic urban lifestyle precinct.
The joint-venture is between leading superannuation fund Hostplus and property developer Hamton, in partnership with Moonee Valley Racing Club (MVRC).
MRVC chose the joint venture after a 12 month competitive selection process.
As the industry super fund for hospitality, tourism, recreation and sport, in 2018 Hostplus celebrates a 30-year relationship with MVRC and is the trustee for the retirement savings of the near 400 MVRC employees and more than 7600 City of Moonee Valley residents.
Hostplus CEO David Elia said the fund’s investment in the redevelopment is a natural fit with the sectors Hostplus serves.
“Today we are excited to announce our involvement in securing MVRC’s future, alongside the creation of many new jobs and economic growth for the sectors we proudly serve.
"We are delighted to partner with Hamton, with whom we have a strong track record as joint venture partners, via ISPT spanning more than a decade,” he said.
“The redevelopment will see MVRC cement its position as one of the world’s premier racing clubs and will reinvigorate The Valley as an iconic Melbourne destination of the 21st century.
"This investment will also complement our diversified portfolio and deliver strong risk-adjusted returns to members over the long-term.”
Around nine hectares of the 40-hectare site owned by MVRC will be available for development by Hostplus-Hamton. Payments by Hostplus-Hamton to MVRC will facilitate the construction of the Club’s new grandstand and racetrack.
Paul Hameister, executive chairman of Hamton said the redevelopment of the entire site will be considered as one integrated precinct.
"[The prceinct will be] one that is a great place to live, work and visit, with new public parks and facilities, destinational food and beverage, complementary retail, innovative work-spaces and world class residential homes. Our aim is to deliver an enduring legacy of which we can all be proud.
“Now that our appointment has been formalised, the proposed development masterplan will be refined over the coming 12 months before we can release further details,” Mr Hameister said.
“Part of the masterplan refinement over the coming months will include engagement with key stakeholders, including the community, to learn more about local priorities for Moonee Valley.”
The investment by Hostplus in the joint venture with Hamton will be managed by ISPT pursuant to a direct mandate. ISPT coordinated the coming-together of the two joint venture partners and was heavily involved in the competitive selection process on behalf of Hostplus.
The nine-hectare development site has already been rezoned by MVRC to a combination of Activity Centre Zone and Mixed Use Zone. The permit for the first stage is expected to be lodged early in 2018.
The site is six km from Melbourne’s CBD and a short walk from Moonee Ponds rail station.
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Moonee Valley Racing Club announces bold vision to transform historic racetrack 

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Deague Group has settled 500 apartment sales over just two days for its Box Hill development, The Whitehorse Towers, which is the tallest residential tower outside the Melbourne CBD.
The twin-tower project – one 36 storeys high, the other 24 storeys – had around 25 per cent of buyers from offshore.
Some 70 per cent of buyers were investors.
Around 20 per cent of buyers paid in cash.
It was developed by the Deagues and investment platform Ironfish, which had a minority stake in the project where valuations for the apartments came in around $1000 per square metre above the original price points.
Fairfax Media suggested apartments were pre-sold on an average of around $8600 per sq m.
The project includes a 100-room Art Series hotel, The Chen. The project topped at at 115 metres.
Of the 511 apartments in the project, 400 were settled last Friday at the offices of law firm HWL Ebsworth with a further 100 settled yesterday,
The remaining 11 are due to be finalised with the next few days.
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20 percent pay cash in Deague-Ironfish project, Whitehorse Towers

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Property developer Glenvill sold all of their first release of 19 townhouses in their new development YarraBend The Mills in Alphington within three hours on its Saturday launch.
They fetched nearly $19 million combined.
Two additional releases that were scheduled for next year have now been brought forward.
The two and three bedroom townhouses release of the were sold to mainly local Melbourne residents. 
There was a 95 percent clearance rate in the release of the first townhouse precinct a year ago.
Ashley Bramich, Glenvill's sales and marketing director said there has been a strong demand from the market to buy into YarraBend.
“We are very pleased with how the market is responding to residences released in YarraBend and because of the high level of interest in The Mills, we decided to release more two and three bedroom townhouses scheduled for next year, and with that brought forward sales for $23,520,000 of stock to meet demand” Bramich says. 
“Some drawcards that have attracted buyers to The Mills precinct include the prime location within the development, just 200 metres from the Yarra River and at the heart of the community close to the many amenities that will be on offer, as well as the quality industrial chic design of the townhouses.” 
The YarraBend development is located just 6.5km from Melbourne’s CBD in Alphington and The Mills precinct has been designed to reflect the site’s industrial heritage, featuring sawtooth roofs, brick bookends and raw materials with refined finishes.
 <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/2017/11/20/Bend2.jpg" alt="">
CEO of YarraBend, Len Warson, highlights that people are not only buying into the development due to factors such as location, the premium amenity offering and quality of the build, but they are also buying into the vision for YarraBend. 
“YarraBend offers a unique way of living. We have explored what people value and incorporated these insights into a considered design that pushes the boundaries on what is currently available in the market,” Mr. Warson explains. 
“The design of YarraBend is founded on six visionary pillars - art and design, food and entertainment, health and wellness, sustainability, technology and knowledge.” 
“Results to date show that our vision is something that clearly resonates with buyers and investors.”
For more information <a href="https://yarrabend.com.au/the-mills/.%20" target="_blank">click here</a>.
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Townhouses in YarraBend’s newest release, The Mills, sell out within three hours

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The Gurner development of The Spanish Club in Fitzroy has now been approved by VCAT as a result of Supreme Court win earlier in the year.
There will be no changes to the original plans outlined that were denied by the VCAT earlier this year.
The decision has come two years after the project was first submitted for approval.
The proposal was first denied a permit at VCAT in May this year on a minor technicality surrounding a neighbouring property, despite the project having general support from VCAT.
Gurner then appealed the decision in the Supreme Court in June and later won the case due to the developer being “denied procedural fairness”, according to the judge.
The appeal allowed the developer the opportunity to re-submit the project to VCAT under a different panel, but not before GURNER™ held three mediation dates with council and neighbours in order to ensure all initial objections could be mitigated.
In what represents a full circle for the developer, the project was finally awarded a permit for 38 apartments over seven levels across the 787sqm site by VCAT with not a single change to its original plans, which include a new Spanish bar and restaurant and clubhouse facilities for The Spanish Club at ground level.
The project is being designed by Warren and Mahoney and will incorporate Spanish-inspired interiors that will be unlike anything on the market currently.
“This has been a long and difficult process but we are happy to be able to put it all behind us and move forward with our plans to reinvigorate The Spanish Club along with our original plans that we first submitted to VCAT two years ago,” said Tim Gurner, the company's founder and director.
“We are now preparing for an early 2018 launch. 
“Fitzroy is an area I feel so passionate about, we have been developing in this area for over ten years and have been working with some of Melbourne’s best restauranteurs and winemakers to not only develop quality apartments, but also to deliver world-class cafés, bars and restaurants at the ground level.  
Under the proposed agreement between The Spanish Club and Gurner, the developer was to absorb the Club’s debt and transfer ownership of that debt into the developer’s name to ensure that the banks could not pursue the Club for costs whilst the redevelopment was ongoing.
Established in 1969 along Fitzroy’s effervescent Johnston Street, The Spanish Club was founded by Padre Eduardo Sanchez, the Chaplin to the Spanish, who persuaded the Spanish government to partially assist in purchasing the building to serve as a social centre.
The club was originally called The Spanish Roman Catholic Mission, before later being renamed ‘Hogar Español’ meaning Spanish home.
The club quickly grew to become a home away from home for hundreds of Spanish immigrants settling in Australia in the late 50s and early 60s, and over the years it evolved to offer extensive social and education opportunities for the Spanish and wider community.
 
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Gurner development of Fitzroy's Spanish Club approved by VCAT

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Retirees and empty nesters are being drawn to Cube Developments’ new $37 million residential project at Birtinya due to its low maintenance lifestyle and proximity to world class health facilities, developers say.
Curve Birtinya occupies a waterfront site within strolling distance to the newly-opened $1.8 billion Sunshine Coast University Hospital and University Private Hospital, with Oceanside’s new shopping centre and large retail development also on the doorstep.
The development features 55 one, two and three bedroom apartments offering northerly water views, spacious light-filled interiors, high ceilings, quality appliances, generous balconies, and room to entertain.
Seven expressions of interest have been received from the project, with retirees and downsizers seeking an alternative to retirement home living forming the bulk of the interest.
Cube Developments’ Scott Juniper said Curve Birtinya was attracting strong interest from retirees who wanted the freedom and flexibility of their own home without the complexities of buying into a retirement village.
"More senior buyers are realising they can downsize their homes without downsizing their lifestyle and enjoy the benefits of building a bigger nest egg, lower maintenance costs, cheaper utilities, greater independence and the freedom to travel," Juniper said.
"For empty nesters, retirees or buyers looking to get a foothold in the booming Birtinya market with a view to settling here in the future, Curve Birtinya has so much to offer."
Curve Birtinya offers a prime lakeside within the Oceanside Health Hub – a 17-hectare development alongside the Sunshine Coast Health Precinct.
Stage One of the new Stockland’s Oceanside Shopping Centre is expected to commence in January and will feature six restaurants, Coles and Aldi supermarkets and more than 40 new retailers on completion.
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Curve Birtinya enjoys healthy interest from retirees

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The Gold Coast Bulletin has reported wealthy residents have vowed to oppose the development of the a 44-storey residential tower on the Gold Coast’s Hedges Avenue.
But the ASX-listed group is pushing ahead with the $230 million proposed tower, designed by BDA Architects that comprises 99 apartments.
Sunland paid $13.4 million for the 1821 square metre Hedges Avenue site which falls 100 metres within the boundary of the Broadbeach area plan, which allows high-rises.
The neighbouring Peerless Ave marks the start of a three-storey height limit.
Sunland managing director, Soheil Abedian, said the proposed height of the tower was in line with existing and future high-rises nearby.
“Within the context of its urban surrounds, 272 Hedges Avenue presents both unparalleled design and location amenities, reflecting the high standards of lifestyle, quality and craftsmanship sought by the owner-occupier market,” he said.
He described it as "an elegant, curvilinear landmark providing a sculptural marker at the southern edge of the expanding Broadbeach precinct".
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Wealthy Hedges Avenue residents opposing Sunland's 44-storey Mermaid Beach skyscraper

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A Southbank development, up for sale for the second time in just over two years, now comes with a hotel permit.
Expected to fetch around $15 million, the City Road site sold in 2015, however the sale to a foreign Chinese investor fell through because of a perceived restrictive planning scheme amendment.
Due to a change in the Melbourne Planning Scheme, it was perceived that amendment C270 would restrict use of the property and as a result, it led the investor to renegotiate on the sale. The property was then taken off the market.
This time round the vendors, Photography Studies College owner Julie Moss and Webjet non-executive director Steven Scheuer, are selling the 910 sqm site with approved plans for a 30 storey tower.
The mixed use hotel development is set to be 100 metres tall and will sit in the pricey precinct on Southbank, with prestige towers Eureka, Prima Pearl and Australia 108 nearby.
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The four star luxury hotel will have 270 pod-style, hi-tech rooms with artistic and modern interiors.
It will include a ground floor cafe and hotel rooftop bar, with eight of the 30 levels dedicated to education space.
Julie Moss’ Photography College is keen to occupy as a tenant. The development is being marketed through a global marketing campaign by Allard Shelton agents Michael Ryan, JAmes Gregson, Joseph Walton and Martin Huang.
Michael Ryan suggested developers are eager to make their mark on the hotel boom.
“The hotel sector appears to be outperforming many of the other property sectors in the Australian property market at the moment," he said.
"Not only are we rapidly growing as a population, Melbourne is also a major business hub and a safe, tourist destination.”
According to Deloittes 2017 Tourism and Hotel Market Report, International visitor numbers to Australia climbed 8.9% over the past year to 8.5 million, with an additional 700,000 visitors arriving on our shores.
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