A landmark former orphanage site in Surrey Hills could be transformed into a new residential community under plans lodged by <a href="https://www.apartments.com.au/developers/antipodean-land-developments">Antipodean Land Developments</a> that would deliver 76 apartments and townhouses while restoring some of the suburb's most significant heritage buildings.

The burgeoninng Melbourne-based developer has submitted plans for the 9,158 sqm site at 1 Kent Road and 24 Durham Road, home to the former St Joseph's Home for Destitute Children, a historic institutional complex dating back to the late 19th century. The proposal seeks to adaptively reuse several heritage buildings while introducing two new four-storey residential buildings set within extensive landscaped grounds.

Designed by <a href="https://www.apartments.com.au/architects/woods-bagot">Woods Bagot</a> and Kerstin Thompson Architects, the project has been conceived as a contemporary residential village embedded within a restored heritage precinct. The development team describes the design approach as "The Village in the Garden," with new buildings positioned among mature landscaping by OCULUS and significant heritage structures.

<img alt="First look: Antipodean Land Developments plans heritage-led apartment community in Surrey Hills" data-entity-type="file" data-entity-uuid="44ec8c1b-c0b6-44ae-859e-5811b3e6a023" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Untitled%20design%20%281%29.png?VersionId=p.p1_KFh4iQoV4nisdnPfQBAsWNi7m79" />

The proposal would deliver 76 dwellings comprising a mix of apartments and duplex-style residences, significantly increasing housing supply on one of the largest privately held residential landholdings in Surrey Hills. The development includes 127 car spaces, 24 bicycle spaces and more than 1,000 sqm of communal amenity, with the existing chapel building earmarked for conversion into resident facilities.

According to the planning submission, the project centres on the restoration and adaptive reuse of the site's most significant heritage assets, including the original c.1889 St Joseph's building, the chapel designed by architect Augustus Andrew Fritsch, and the historic brick perimeter walls and entry gates. The proposal also incorporates the retention of other contributory buildings including the former infirmary and school building.

Tract Consultants, in the planning report accompanying the application, said the scheme had been shaped through extensive heritage analysis and design development.

"The shared vision for the Site by the project team has culminated in a scheme which successfully breathes life back into a historic site while delivering upon the objectives of Victoria's Housing Statement in a carefully curated and contextually responsive manner."

<img alt="First look: Antipodean Land Developments plans heritage-led apartment community in Surrey Hills" data-entity-type="file" data-entity-uuid="7263b7d8-95ea-400f-9531-6ca7d22c3c33" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Untitled%20design%20%282%29.png?VersionId=4cR1tiWOsDpgxEOwZi5vVFcyvvOsYkIE" />

The proposal is being assessed under Victoria's Significant Residential Development with Affordable Housing pathway. As part of the application, three per cent of the project's residential development cost would be contributed to the Social Housing Growth Fund. The development would also provide a diverse mix of one, two and three-bedroom residences targeting a broader range of buyers than typically found in Surrey Hills' detached housing market.

Sustainability initiatives include an anticipated 66 per cent BESS score, natural cross-ventilation to 80 per cent of apartments, 28 per cent deep soil landscaping and a canopy cover outcome exceeding local planning requirements. The proposal also sets aside more than 1,083 sqm for communal indoor and outdoor resident amenity spaces.

<img alt="First look: Antipodean Land Developments plans heritage-led apartment community in Surrey Hills" data-entity-type="file" data-entity-uuid="33fad46f-fe26-4d0a-acfd-6b776e1c6a3d" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Untitled%20design.png?VersionId=D9F6WVSyYCtGvSUmith35LRp6R7PQkw_" />

Planning documents describe the property as one of the largest underutilised residential sites in Surrey Hills, arguing it presents a rare opportunity to introduce "missing middle" housing in an established inner-eastern suburb while preserving and revitalising a significant heritage precinct.

Antipodean Land Developments has built a reputation for design-focused residential projects across Melbourne, particularly in the medium-density sector. Previous developments include Neighbourhood in Brunswick East, delivered with Breathe Architecture, and Balfe Park Lane, designed by Kerstin Thompson Architects.

They've been very active in site acquisition as they build out their future development pipeline. They recently launched Thornubury House, 45 apartments above a mix of commercial, retail, and food and beverage tenancies, and have plans for a boutique project in Fitzroy and another <a href="https://www.apartments.com.au/news/vic/antipodean-plan-apartments-for-deepdenes-missing-middle-on-whitehorse-road">"missing middle" project</a> on Deepdene's Whitehorse Road.

Joel Robinson

First look: Antipodean Land Developments plans heritage-led apartment community in Surrey Hills

Developer <a href="https://www.apartments.com.au/developers/auyin-property-development">Auyin</a> is the latest to turn to the Victorian Government's Development Facilitation Program in an effort to secure approval for its long-planned, mixed-use project in Elsternwick.

In 2018, Auyin lodged plans with Glen Eira City Council for a 14-storey building, however Council approved a reduced eight-storey scheme. A subsequent VCAT appeal in 2019 upheld the eight-storey height limit.

The project was later amended to nine storeys, but Auyin is now seeking to revive something closer to its original vision. The developer argues that the planning context has evolved significantly over the past decade, particularly within the Elsternwick Activity Centre, where higher-density development has increasingly been encouraged along Glen Huntly Road.

The proposal would transform the 1,239 sqm site at <a href="https://www.apartments.com.au/new-apartments/7-12-horne-street-elsternwick-vic-3185">7-15 Horne Street</a>, opposite Elsternwick Railway Station, into a 13-storey residential and retail development designed by CBG Architects, with 40 apartments

The site currently comprises three commercial properties.

<img alt="First look: 13-storey mixed-use tower planned for Elsternwick activity centre" data-entity-type="file" data-entity-uuid="5f465dd4-509b-4082-a669-0253b313914b" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/elsternwick%20podium.png?VersionId=72frWi0SmQ5AVJ3ARRhX5ILUYObhTm7x" />

The proposed apartment mix comprises 25 two-bedroom and 15 three-bedroom residences above 200 sqm of retail space at ground level. Residents would have access to a 90 sqm wellness facility, a 351 sqm communal indoor and outdoor terrace on the third level, and extensive landscaped areas throughout the development. A publicly accessible 135 sqm plaza would be created on the north-east corner of the site, providing seating, landscaping, and a new gathering space adjoining Horne Street.

The design adopts a four-storey podium that references the finer-grain character of the surrounding streetscape, with the upper tower recessed behind generous setbacks on all boundaries.

<img alt="First look: 13-storey mixed-use tower planned for Elsternwick activity centre" data-entity-type="file" data-entity-uuid="e637e763-2abc-4c34-a0aa-5c7ad36fae18" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/elsternwick%20open.png?VersionId=J1AoOpZgTyaF.KeeFSX6lMjEScX8KKRi" />

A key element of the proposal is the reconfiguration and widening of the surrounding laneways. Vehicle access would be retained from Lois Lane, with upgraded pedestrian connections linking Ross Street and Horne Street. The development would provide 58 residential car spaces, two retail car spaces, and 52 bicycle spaces across two basement levels and ground-floor facilities.

Architecturally, the building draws inspiration from the established character of Elsternwick Village. The façade combines dark charcoal brickwork, textured concrete, bronze-toned metal detailing, and extensive planting integrated into podium and tower levels. The design also incorporates a chamfered corner treatment and publicly accessible plaza intended to strengthen pedestrian activity around the station precinct.

Elsternwick's last new development completion was&nbsp;EVA Elsternwick by Pitard late last year. <a href="https://www.apartments.com.au/developers/milieu-property">Milieu</a> is working away on its nature-led neighbourhood, <a href="https://www.apartments.com.au/new-apartments/elsternwick-gardens-by-milieu-8-gordon-street-elsternwick-vic-3185">Elsternwick Gardens</a>, on Gordon Street, with its first stage expected to complete next year.

First look: Auyin seeks mixed-use apartment project in growing Elsternwick Activity Centre

<a href="https://www.apartments.com.au/new-apartments/otium-parkdale-123-125-como-parade-east-parkdale-vic-3195">Otium Parkdale</a>, the 13-residence boutique development by&nbsp;<a href="https://www.apartments.com.au/developers/huxtable-property">Huxtable Property</a>, has entered its final stages of delivery, with completion expected within the coming month and more than half of the residences sold.

The Como Parade East project is nearing the finish line at a time when opportunities to purchase new apartments in <a href="https://www.apartments.com.au/developments/parkdale-vic-3195">Parkdale</a> remain exceptionally limited. Fewer than 10 per cent of dwellings in the bayside suburb are apartments, making developments like Otium a relatively rare addition to a market traditionally dominated by detached housing.

[smartcode_project:default project_id=134974 project_image_fid=5427]

The three-level development comprises 13 residences, including ten two-bedroom apartments and three larger three-bedroom homes, all positioned above a secure basement car park.

Designed by <a href="https://www.apartments.com.au/architects/almeida-architects">Almeida Architects</a> with a strong connection to its coastal surroundings, Otium combines red brick, exposed concrete and dark metal detailing with integrated landscaping and greenery. Expansive glazing, generous balconies and terraces have been incorporated throughout the design to maximise natural light and reinforce indoor-outdoor living.

Inside, the residences feature engineered European oak flooring, natural and reconstituted stone benchtops, Bosch kitchen appliances, ducted heating and cooling, lift access and secure entry systems. The larger three-bedroom residences on the upper level have been designed with house-like proportions, while the two-bedroom apartments prioritise functionality, flexibility and low-maintenance living.

[smartcode_project:default project_id=134974 project_image_fid=5421]

The project is now in its final stages, with <a href="https://www.apartments.com.au/builders/labco">Labco</a> completing the remaining landscaping and external finishing works following the completion of the residences' interiors.

Otium's location within the heart of Parkdale continues to underpin its appeal. Residents will be just steps from local cafés, restaurants, shops and the newly elevated Parkdale Station, while the beach is less than a kilometre away.

With the project tracking ahead of schedule, buyers can currently secure a residence with a five per cent deposit and benefit from settlement terms of up to eight months. The advanced stage of construction also provides buyers with the opportunity to walk through the near-complete residences and experience the quality and finishes firsthand ahead of completion.

[smartcode_project_cta:default project_id=134974]

Otium Parkdale enters final month before completion as rare apartment opportunity nears sellout

A new boutique apartment development is entering the market in <a href="https://www.apartments.com.au/developments/chermside-qld-4032">Chermside</a>, with Brisbane-based developer <a href="https://www.apartments.com.au/developers/ausdev">Ausdev</a> bringing 33 residences to a well-connected pocket of Brisbane's north.

<a href="https://www.apartments.com.au/new-apartments/parkdrive-apartments-chermside-25-sammells-drive-chermside-qld-4032">Parkdrive Apartments</a>, at 25 Sammells Drive, will comprise a mix of one- and two-bedroom residences positioned within walking distance of Westfield Chermside, The Prince Charles Hospital, and Bradbury Park.

Established in 1989, Ausdev has a long-standing presence across both development and construction, with Parkdrive Apartments representing its latest residential project in Brisbane's northern suburbs.

[smartcode_project:default project_id=152125 project_image_fid=363778]

The development has been designed around open-plan living and natural light, with residences featuring stone benchtops, timber cabinetry, BOSCH appliances, and private balconies that extend the living areas outdoors.

Kitchens are positioned as the centrepiece of the homes, incorporating natural material palettes and integrated appliances, while bathrooms have been designed with a focus on functionality and understated finishes.

Residents will have access to a communal barbecue and entertaining area on Level 3, providing shared outdoor space within the development. Secure parking and lift access are also incorporated into the building.

The project will deliver a limited collection of 33 apartments, with one-bedroom residences priced from $749,000.

[smartcode_project:default project_id=152125 project_image_fid=363782]

Beyond the building itself, the location places residents within easy reach of several of Chermside's key amenities. Bradbury Park is around 350 metres away, while Westfield Chermside is approximately 1.3 kilometres from the site. The Prince Charles Hospital is located within 750 metres, and the Chermside Bus Interchange is around 1.5 kilometres away, providing connections across Brisbane.

Parkdrive Apartments adds to the growing residential pipeline in Chermside, a suburb that continues to evolve as a major retail, healthcare, and transport hub for Brisbane's north.

[smartcode_project_cta:default project_id=152125]

Ausdev introduces boutique Parkdrive Apartments to Chermside's growing centre

<a href="https://www.apartments.com.au/developers/skymark-group">Skymark</a>'s boutique Cronulla development Solis has secured a 10-year Latent Defects Insurance policy through Resilience Insurance, providing buyers of the 16-residence building on Ewos Parade with structural and waterproofing protection that extends a decade beyond the building's completion.

Currently under construction and due for completion in late 2027, <a href="https://www.apartments.com.au/new-apartments/solis-cronulla-8-ewos-parade-cronulla-nsw-2230">Solis</a> is one of a small number of new developments in the Sutherland Shire to carry Resilience LDI coverage, a distinction that carries increasing weight as buyer confidence in the off-the-plan sector continues to be shaped by how developers stand behind their product.

Latent Defects Insurance, which entered the Australian market in 2022 when Resilience Insurance was approved to offer the cover, protects buyers against major structural or waterproofing defects for ten years post-completion. Unlike traditional statutory warranties, it operates as a first-resort policy, if a covered defect arises, the insurer responds directly, without the buyer needing to pursue the builder or developer through a lengthy claims process.

Resilience Insurance CEO Corey Nugent has noted that the product addresses something fundamental to the new apartment market.

"The overarching feedback from prospective buyers in the new development space is that they want more confidence and assurances around the quality of the build," Nugent says.

"Resilience Insurance Latent Defects Insurance not only gives them complete peace of mind for 10 years, but it shows the developer they are buying from is standing by their product."

[smartcode_project:default project_id=150499 project_image_fid=370898]

For Solis, the Resilience LDI policy adds a meaningful layer of accountability to an already considered project. The development comprises nine two-bedroom and seven three-bedroom residences, including one dual-level three-bedroom apartment, across a five-storey building on Ewos Parade, positioned between Shelly Beach and South Cronulla.

Garden apartments connect directly to private landscaped courtyards, while upper-level homes capture beach views to the east from level four and above.&nbsp;

All 16 residences include at least one balcony or courtyard, and select apartments on the upper floors feature bar areas and secondary flexible living spaces.

Hiba Sander, Managing Director of Skymark, says Solis offers a rare balance, nestled between the quiet beauty of secluded beaches and the lively charm of South Cronulla's esplanade.

"It's a place to choose your pace and live gracefully, seaside'," Sander says.

[smartcode_project:default project_id=150499 project_image_fid=370900]

The architecture, designed by <a href="https://www.apartments.com.au/architects/ida-design-group">IDA Design Group</a>'s Michael Trinh, draws from the natural erosion patterns of <a href="https://www.apartments.com.au/developments/cronulla-nsw-2230">Cronulla</a>'s sandstone headlands, translating the organic forms of the coastline into soft curves, pavilion-style massing, and a material palette chosen for longevity in a salt-tinged environment.&nbsp;

Textured natural stone, soft renders, and timber-look battens reference the tones of the surrounding cliffs, while the building has been oriented to maximise natural light and passive ventilation, with primary living spaces facing north and east to capture morning sun and sea breezes.

"At Solis, our aim was to create architecture that feels quietly confident, grounded in natural materials like stone and timber, and elevated by light and landscape," Trinh says.&nbsp;

"The buildings are designed to sit gently within their coastal surrounds, with expansive glazing and abundant greenery creating a seamless dialogue between inside and out."

[smartcode_project:default project_id=150499 project_image_fid=370897]

Interiors by <a href="https://www.apartments.com.au/architects/hot-black">Hot Black</a> carry the same material language through to every room. Kitchens feature integrated Gaggenau appliances, sculpted stone benchtops, and Lo &amp; Co joinery, while bathrooms feature natural stone, timber, and brushed metal finishes.&nbsp;

Hot Black Founder and Design Director Sophie Safrin describes the intent as one of considered restraint: "At Solis, every detail has been thoughtfully considered to create a timeless coastal retreat, calm, refined, and effortlessly liveable. From natural finishes to seamless indoor-outdoor flow, Solis offers a quiet elegance that's deeply connected to its surroundings.

The landscape, designed by Julian Brady of <a href="https://www.apartments.com.au/landscape-architect/sitedesignstudios">Site Design Studios</a>, treats green space as an integral part of the resident experience rather than an afterthought.&nbsp;

"Gentle curves and layered native plantings mirror the ebb and flow of the ocean," Julian Brady says, "creating a serene connection between architecture and place."&nbsp;

Coco Republic has provided bespoke furniture packages tailored to the project's coastal palette.

[smartcode_project:default project_id=150499 project_image_fid=370899]

Skymark has an established track record in the Sutherland Shire, with a portfolio spanning Cronulla, Woolooware and Burraneer that includes Isla, Sylva, Bask, Shells, Sula and Mist. Securing LDI on Solis reflects a broader shift in how the developer is positioning its buildings to buyers, at a time when Resilience Insurance expects the policy to become mandatory in New South Wales by 2028.

Sales at Solis are launching soon through Ray White Projects, with an official event scheduled for 11 June. Enquire for more information.

[smartcode_project_cta:default project_id=150499]

Skymark takes out 10-year Resilience Insurance LDI at Solis Cronulla

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Hospitality group Merivale has snapped up Vic on the Park Hotel in Sydney's Inner West, adding to its pub portfolio.
The deal value was not known immediately, but is estimated to be between $22 million-$25 million.
The latest transaction follows another hotel deal by the Justin Hemmes-led Merivale in August.
Sydney's beachfront Collaroy Hotel was bought by the Merivale group in an off-market sale, with market chatter putting the deal at around $21 million.
The Vic on the Park is Merivale's second pub in the area after Hemmes' purchase of the Queen Victoria hotel on Enmore Road in 2015, according to the <a href="https://www.goodfood.com.au" target="_blank">goodfood</a> website.
"We have a self-imposed mandate to grow this wonderful business both deliberately and responsibly, and wherever we see property backed opportunities for us to create unique experiences for our loyal client base" said Merivale CEO Justin Hemmes in a media release.
The Vic on the Park Hotel is a large format, 1,247 sqm hotel site on the corner of Addison Road and Enmore Rd in Sydney's Marrickville. 
It has 25 electronic gaming machines and the venue generates more than $7.46 million in annual sales.
“Vic on the Park has long been at the heart of Marrickville, a vibrant community hub where people of all ages and walks of life can come together”. “We have loved being part of the Inner West since opening Queens last year and can’t wait to take on what is undoubtedly an important and cherished venue in the area” Hemmes concluded. 
The hotel was sold by the Australian Pub Fund (APF), the seventh such sale of an A-grade freehold hotel by the Carnegie, Singleton and Dixon private equity joint venture vehicle over the past 12 months. 
Ray White and CBRE were running the international expressions of interest campaign closing September 28.
"We employed a strategic and very public sales campaign involving both national print and digital media levers, and the response was consistent with our expectations for an A-grade property holding of this commercial complexion" said Ray White Hotels' Andrew Jolliffe. 
"Our guidance throughout the campaign was between $22m and $25m, and that is ultimately what we achieved for our client," he said. 
CBRE Hotel's Daniel Dragicevich added that the mixed development momentum within the precinct the hotel is situated generated lot of enquiries from hoteliers and developers. 
The Vic was part of their Australian Pub Fund portfolio, a private equity group currently exiting strategic hotel investments to recycle equity, goodfood said.
The APF also sold Newtown's Marlborough Hotel to Matt Moran and Bruce Solomon's Solotel group in April.
The Vic is popular for its live music, sports, bistro dining and a carpark that hosts outdoor gigs, record fairs and even the odd basketball game.
Merivale will receive the keys to the Vic on November 13. The pub will trade as per usual.
 
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jonathanchancellor-7SQnKwU6yx

Justin Hemmes' Merivale buys Enmore's Vic on the Park hotel 

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The Terrey Hills Tavern, a well known watering hole in Sydney’s Northern Beaches, has been listed with price expectations of more than $40 million.
The pub market has picked up in the last few months, highlighted by the sale of Beach Hotel in Byron Bay for $70 million and the Clovelly Hotel overlooking Clovelly Beach changing hands for $34 million.
The Northern Beaches hotel has been placed on the market by Feros Group, led by Sydney publicans Nick and Chris Feros.
The group is working towards a Christmas opening of the newly-developed Highfields hotel in Caringbah with any sale of <a href="https://www.terreyhillstavern.com.au/spaces/" target="_blank">Terrey Hills Tavern</a> helping them with funds to this project, according to Fairfax Media.
The marketing is being handled by CBRE Hotels' Daniel Dragicevich and Sam Handy.
The listing of Terrey Hills Tavern comes at a time when the Sydney pub market is thriving, with about $650 million in top-tier pubs changing hands over the past 18 months in 26 separate deals.
Terrey Hills Tavern sits on 15,870 sqm and the agents say its annual revenue exceeds $11.6 million. It is widely considered to be the jewel in the crown of the Feros Group portfolio.
CBRE national director Dan Dragicevich said the tavern ranks alongside other Northern Beaches favourites such as the Newport Arms in terms of the scalable nature of the business and sheer size of the operations.
"The hotel was also well positioned to capitalise on the nearby Ingleside land release and master-planned mixed-use development, which would add an additional 3400 new homes and 13,600 new residents to the immediate area," Dragicevich said.
Handy added that the Terrey Hills Tavern was virtually "unopposed within its catchment area and was a genuine community focal point for tens of thousands of residents in the surrounding suburbs".
He said the tavern was expected to attract interest from hoteliers due to the $11.6 million annual cash flow, through to land bankers and developers.
 
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Iconic Terrey Hills Tavern in Sydney's Northern Beaches listed with $40 million hopes

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Popular watering hole, The Clovelly Hotel, in Sydney’s eastern suburbs has changed hands for $34 million in another high-profile deal involving pubs.
The deal comes close on the heels of another waterfront pub, the Beach Hotel in Byron Bay, fetching $70 million. It was snapped up by a Melbourne-based private equity firm backed by the wealthy Liberman family.
The Clovelly Hotel, popularly known as  ‘The Cloey’, overlooks Clovelly Beach and is home to celebrity chef Matt Moran.
In February 2017, MorSol – a joint venture between Matt Moran and Solotel Hotel Group – secured a long-term leasehold interest in the Clovelly Hotel.
The heritage-listed pub, built in 1859, was sold by Sam Arnaout’s Iris Group. Iris bought the hotel and tavern for $27.2 million in October 2014, The Australian reported.
The deal was negotiated by JLL’s John Musca and Colliers International’s Miron Solomons.
Occupying 1,708 sqm at the junction of Clovelly Road, the four-level pub has 15 pokies, a public bar, beer garden, gaming room and accommodation facilities.
It is believed to have sold on a yield of about 5 per cent, the Australian said citing sources.
The buyer is a little-known private local investor.
Matt Moran will continue to operate the pub.
A development application has since been lodged to increase the size and standard of the hotel’s short-stay options.
At present, it 14 hotel rooms with some offering sea views.
JLL’s Musca did not comment on the sale negotiations but added that the pub was keenly contested, with wide-ranging local, interstate and offshore interest.
“This was not surprising given the asset profile and the fact that residential property in the area is selling for nearly $28,000 sqm,” Musca said.
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Sydney's Clovelly Hotel changes hands for $34 million as pub sales pick up

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In what is one of the largest regional New South Wales pub transactions for 2017, the Belmore Hotel in Maitland has been sold to a local businessman for $9 million.
The Belmore Hotel is in the Hunter Valley Tourism Precinct, and at the 2011 Census was determined New South Wales’ fastest growing inland Urban Centre. 
The hotel has several bars, a bistro, gaming room with 19 EGMs, 18 pub rooms and a large outdoor beer garden with diversified weekly revenue of approximately $100,000 per week.
The selling agents were Ray White’s Blake Edwards, Andrew Jolliffe and Xavier Plunkett, who sold it on behalf of long-time owners the Murphy family. 
Having indicated that their investment focus is shifting, and after 14 years in the hospitality industry, the Murphy family felt like it was the right time to divest the asset. 
"We've owned the hotel since 2003, and since then we have all grown older and want to do a bit more of our own thing" said Luke Murphy. 
"We still have development interests in the area, which we will now shift our focus onto.” 
Last year too, Ray White sold a hotel in Maitland to a Sydney hotel group for a record Hunter Region price of around $11 million.
"Particularly given the quality of the offerings we are showcasing at our May 31 auctions in the form of Maitland CBD's outstanding Belmore Hotel.
Commenting upon the various demand drivers for the high level of interest in the sale process for the Belmore Hotel, Edwards said the property benefited from a number of business and property positives. 
"Strategically, the well-structured nature of the hotel operation on offer at the Belmore Hotel made sense for our purchaser," Edwards said.
"Although it may sound cliché, it all comes back to the basic investment fundamentals, including strong population growth, a familiarity with the local area, close proximity to a large base of both white and blue collar industries and a distinct absence of large scale competition in the immediate area." 
Jolliffe said he expects the regional market to maintain its current trajectory, and market depth, given the limited opportunity in metro areas; as well as the growth of commercial and residential markets in regional centres. 
 
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Belmore Hotel in regional NSW sells for $9 million

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BRW Rich Lister Arthur Laundy has sold off his Bateau Bay Hotel on the NSW Central Coast.
It fetched around $13 million after buying it two years ago for nearly $11 million.
The Bateau Bay Hotel, one of 19 NSW venues owned and managed by Laundy Hotels, was bought by a local north coast pub group.
"Pubs are going very strong. It's definitely a sellers market ... I am cashing in on the prices being paid at the present time," Laundy was cited as saying by the Australian Financial Review.
"If the right price came along, I would sell more [from my portfolio].” 
The sale was on a sub 10 per cent yield.
"The Bateau Bay Hotel been a solid business, but given we have a few projects on the go at present thought it was the right time to sell,” Laundy said.
The off-market deal was brokered by CBRE Hotels’ Daniel Dragicevich and Ben McDonald. 
The deal shows the strength of the NSW coastal pub market following the recent sales of the Swansea Hotel in Lake Macquarie and the Country Club in Shoal Bay, said McDonald.
"The sale of Bateau Bay, both in quantum of dollars and initial yield, adds weight to the flow of transactional activity in coastal pub markets at levels traditionally reserved for metropolitan assets," Dragicevich said.
Pubs in the region on the market include the Premier Hotel in Newcastle.
Other high-profile pub owners too are taking Laundy’s view on the current market. Geoff Dixon and John Singleton's Australian Pub Fund recently sold the Vic on the Park hotel in Enmore, Sydney, for about $20 million.
"It makes sense that if the Sydney market is closing in on 8 per cent cap rates, that hotels within two hours of the CBD in markets such as the Central Coast are selling at rates of 10 per cent or sharper,” Dragicevich said.
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Rich lister Arthur Laundy cashes in on strong pub market with $13 million sale

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The Daly Waters Pub, an iconic outback pub in the Northern Territory, has sold for an undisclosed sum.
It was listed with expectations of more than $4 million, hotel news website The Shout reported.
Located 600 km south of Darwin, The Daly Waters Pub off Stuart Highway, is a favourite with passers-by. 
It has received AHA NT’s Best Wayside Inn award eight times since 2005.
The pub was built in 1930 by Bill and Henrietta Pierce, its website says. In its long, colourful history, the pub has witnessed murders, shoot outs in the main street, cattle stampeding through town and drunken brawls. 
Publicans Lindsay Carmichael and Robyne Webster, who owned and operated the pub for 18 years, decided to retire and move to Darwin. 
The pub is known for its collection of memorabilia from visitors, who in the late 80s started a tradition of leaving something at the pub to commemorate their visit. The knick knacks that adorn the walls include artificial limbs, surfboards, lingerie and an Irish hurling stick, to name a few among hundreds. There’s even a helicopter sitting atop the shed of the pub, though it’s not in use anymore.
“We endeavour to keep it in an orderly fashion, a bit like a department store. As we have no windows the maintenance is crucial – daily dusting and de-cobwebbing are essential. All is taken down every six months and laundered. Whatever survives goes back up. Most male employees volunteer to wash the lingerie,” Webster was cited as saying by The Shout.
The freehold going concern included the pub with its bistro, a caravan park, cabin park, motel and service station. The total land area is 19,930 sqm.
The selling agent was Steve Liebelt of Ruralco Property.
The buyer is believed to be a businessman from South Australia.
While remote, the pub enjoys plenty of patronage, both from Daly Waters locals and from tourists who have heard of its legendary reputation. 
“While some may consider the pub being remote this is one of its strengths and with a major service and population centre at Katherine only some two hours’ drive away, nobody is ever far from all services,” said Liebelt.
      
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NT's famed Daly Waters Pub changes hands

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An iconic craft beer pub in Sydney’s Darlinghurst has changed hands for an undisclosed sum.
The Local Taphouse is located at 122 Flinders Street and is a pioneer in the Sydney beer market.
The pub has been bought by brothers Josh and James Thorpe from craft beer aficionados Guy Greenstone and Steve Jeffares, according to hospitality news website The Shout. 
The Local Taphouse is the first pub purchase for the brothers, who have worked in a variety of venues all over Sydney, including Newtown Hotel, The Arthouse Hotel in the CBD, and Gilroys Hotel in north Sydney, said The Shout. 
The three-level hotel has a brand new 20-year lease, including options, along with $54,000 per week in weekly revenue.
It has won numerous awards from publications such as Time Out for its impressive craft beer selection, numbering more than 200.
The pub's elder sister is on Carlisle Street, St Kilda East.
Featuring several bar areas, kitchen and a rooftop terrace,  the property is also centrally located to Oxford Street, the CBD and the Sydney Sports Grounds.
Prior to the current sale, the pub sold for $2.55 million in 2010, RP Data shows.
The sale was negotiated by Ray White agents Blake Edwards and Xavier Plunkett. 
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Darlinghurst craft beer pub The Local Taphouse sold

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The historic Southern Highlands pub and hotel The Briars has been listed for sale.
It reportedly could fetch more than $12 million.
The NSW Southern Highlands' trophy property, the Briars Country Lodge and Historic Inn near Bowral, has been listed for sale by its owners the Duffy family.
It was built in 1845 as the Royal Oak Inn.
The Georgian-style property became a country hotel with the addition of 31 guest suites, a guest lounge and lakeside conservatory in the 1980s.
Situated on 3.8 hectares off Moss Vale Road, the Briars is currently operated by Dawn Strauss of Blanch Street Investments and returns $889,000 in net rent per annum with a lease in place until 2024. 
The last reported sale was in 1997 when it sold for $4.7 million at auction by a consortium of wealthy Sydney Eastern Suburbs families that included the Myersons, Solomons and Falks.
The Briars is being marketed by Gerry Quinlan of Manenti Quinlan &amp; Associates Pty Limited along with Cooper Hotel Brokers who are expecting The Briars to sell on a yield of about 7 percent. 
 
 
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