The residential transformation of St Kilda Road is set to continue into with more new apartment plans for the sought-after boulevard.

Wing Tai Asia has lodged plans for a major residential tower at 464-466 St Kilda Road, replacing the former VACC House with an 18-storey mixed-use development designed around a retained heritage podium and a sculpted contemporary tower.

The proposal, prepared under Victoria’s Significant Residential Development with Affordable Housing pathway, would deliver 325 apartments and ground-floor retail across the prominent 4,653 sqm boulevard site in Melbourne’s St Kilda Road North Precinct.

The project centres on the adaptive reuse of the site’s heritage-listed VACC Building, an eight-storey office designed by Bernard Evans that has occupied the address for decades. Planning documents state the development would involve “carefully dismantling and conserving off-site the original metal fabric of the podium visible from St Kilda Road,” before reinstating it as the defining frontage of the new scheme.

Above the restored podium, Wing Tai is proposing a curvilinear residential tower. The scheme includes 172 one-bedroom apartments, 63 two-bedroom apartments, 66 three-bedroom apartments, and 24 four-bedroom apartments, alongside two ground-floor food and beverage tenancies fronting St Kilda Road.

The tower has been designed with substantial articulation and variable setbacks to minimise perceived bulk and maintain view corridors along the boulevard. Urbis, which prepared the planning report, said the design “has been significantly articulated through a curvilinear design” with “an interplay with materials, façade expression and depth” to create visual separation and visual interest.

The proposal also includes 254 basement car spaces, landscaped pedestrian links connecting St Kilda Road and Queens Lane, and a biophilic landscape strategy featuring canopy trees, raised planters, cascading greenery and a glass oculus pool overlooking the eastern frontage.

Planning documents confirm the $270.1 million development will contribute 3 per cent of project costs to the Social Housing Growth Fund as part of the application process.

Wing Tai acquired the St Kilda Road property in 2018 alongside Abacus Property Group for $95.38 million, before later consolidating ownership of the site. The property previously served as the Victorian Automobile Chamber of Commerce headquarters for around 60 years.

The transformation of the St Kilda Rd boulevard is already beginning to materialise, with a number of high-profile projects recently completed, launched, or approaching launch as developers continue to back the long-term appeal of the precinct.

Among the most notable recent completions is Louise by Samuel Property Group, just off the strip on Queens Lane, the same pocket Hirsch &amp; Faigen recently launched The Queensbury. Mirvac is too on the same street with The Albertine, which is approaching completion.

Dexus recently secured approval for its slice of St Kilda Road, while Gurner also has approved plans for the precinct.

Joel Robinson

Wing Tai unveils 325-apartment St Kilda Road tower on former VACC House site

Malaysian developer <a href="https://www.apartments.com.au/developers/s-p-setia">SP Setia</a> is the latest to jump into St Leonards booming Transport Oriented Development precinct.

The developer, which has previously delivered Sapphire by the Gardens apartment development in Melbourne, identified the Atchison Street site in 2023. It filed a Scoping Report around 12 months ago, and now has revealed the designs for the new&nbsp;40-storey mixed-use tower.

The State Significant Development Application covers <a href="https://next-portal.urban.com.au/projects/14650/summary">20-22 Atchison Street</a>, a 1,374 sqm site positioned between St Leonards Station and the new Crows Nest Metro station.

Designed by <a href="https://www.apartments.com.au/architects/cox-architecture">COX Architecture</a>, the project would deliver 181 apartments, above a four-storey commercial podium, five basement levels, and new public domain works along Mitchell Street. The apartment mix comprises 35 one-bedroom apartments, 39 one-bedroom-plus-study apartments, 85 two-bedroom apartments, and 22 three-bedroom residences.

The proposal has been lodged as a shop-top housing development under the NSW Government’s TOD planning pathway, which allows increased density around key transport infrastructure. The site sits within the recently rezoned Crows Nest Accelerated TOD Precinct.

<img alt="First look: SP Setia targets St Leonards skyline with 40-storey TOD tower" data-entity-type="file" data-entity-uuid="b799673d-48e2-46b0-801a-0e33a9330100" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/atchinson%20site.png?VersionId=dPh0UfwfaHpbFL1R7H1cbZNbIW0CHbCC" />

SP Setia acquired the Atchison Street site as part of its continued expansion into the Australian apartment market. In comments made to City &amp; Country (The Edge Malaysia) in 2023, SP Setia President and CEO Datuk Choong Kai Wai described the acquisition as “a strategic move” aligned with the group’s post-pandemic market recovery strategy.

“Our target for this exceptional development is local and overseas buyers, including first-home buyers, downsizers and investors,” Choong said.

The tower has been designed as a slender vertical form rising from a mixed-use podium, with COX Architecture positioning the development as a response to the evolving St Leonards and Crows Nest skyline.

“The purpose of the project is to facilitate the delivery of high-quality housing at a strategically located site and deliver a built tower outcome that is consistent with the desired future character of St Leonards and aligns with the TOD controls,” the design report stated.

<img alt="First look: SP Setia targets St Leonards skyline with 40-storey TOD tower" data-entity-type="file" data-entity-uuid="b1a85eee-76f7-436c-a6da-73ba827b9b13" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/atchinson%20entry.png?VersionId=dA9jHGPMcm.dDbwk4QfxqWiY5bfh3UVt" />

The podium would incorporate retail uses fronting Atchison Street, commercial tenancies, landscaped communal areas, and pedestrian improvements along Mitchell Street. Vehicle access and loading would be consolidated via Atchison Lane.

Residents would have access to more than 665 sqm of communal indoor and outdoor spaces, while the development proposes 96 parking spaces across five basement levels.

The proposal also includes a commitment for 10 per cent of residential floor space to be allocated toward affordable housing through a monetary contribution.

COX said the tower form responds directly to the emerging high-density character of the precinct while seeking to maximise solar access, cross ventilation, and outlook from apartments.

<img alt="First look: SP Setia targets St Leonards skyline with 40-storey TOD tower" data-entity-type="file" data-entity-uuid="2163f85c-f63b-4be3-aafa-f8763976cec5" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Article%20Feature%20Image%20%28Grid%29_5.png?VersionId=WiAmtIKJ6.ZQ41EtYEQ1fol7AeorKBlL" />

“The building is orientated towards north,” the Apartment Design Guide compliance report noted, adding that the tower’s slim form was driven by the constrained inner-urban site dimensions.

The design also incorporates landscaped setbacks and communal open space at podium level, intended to soften the interface with surrounding streets and improve pedestrian amenity.

The project adds to a growing wave of redevelopment proposals reshaping St Leonards and Crows Nest following the opening of the Sydney Metro City line and the NSW Government’s push for higher-density housing around major transport nodes.

Last week Stockland filed plans just down the road. They want to build a <a href="https://www.apartments.com.au/new-apartments/601-pacific-highway-st-leonards-nsw-2065">52-storey tower on Pacific Highway</a>.

Read more:&nbsp;<a href="https://www.apartments.com.au/news/nsw/first-look-stockland-plans-52-storey-538-apartment-st-leonards-tower">First look: Stockland plans 52-storey, 538-apartment St Leonards tower&nbsp;</a>

First look: SP Setia targets St Leonards skyline with 40-storey TOD tower

<a href="https://www.apartments.com.au/developers/urban-property-group">Urban Property Group</a> has revealed plans for a new mixed-use tower at 10 Dangar Street, Wickham, advancing a proposal that would reshape the southern gateway to Newcastle’s city centre with one of the city’s tallest residential buildings.

The State Significant Development proposal, now on exhibition, seeks approval for a <a href="https://www.apartments.com.au/new-apartments/bowline-10-dangar-street-wickham-nsw-2293">43-storey tower</a> immediately adjacent to the Newcastle Interchange. The project would deliver around 200 apartments, including 42 affordable housing dwellings, alongside 99 co-living units, a 171-room hotel, retail space, and new public domain integrated through the site.

The scheme marks a significant escalation of plans previously approved for the site. Urban Property Group took over the prominent 2,904 sqm parcel, where excavation and demolition had already commenced under an earlier consent for a 14-storey mixed-use development.

<img alt="First look: Urban Property Group unveils Newcastle’s next supertower at Wickham interchange" data-entity-type="file" data-entity-uuid="58a96dd9-407f-4d20-86b4-94e4bfeef74b" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/wickham%20podium.png?VersionId=LGlf08pdFGAZDzvx_CXC4XakHNZRuEE0" />

Designed by <a href="https://www.apartments.com.au/architects/sjb-architects">SJB</a>, the tower has been conceived as a landmark transit-oriented development anchored to the Newcastle Interchange precinct. The proposal includes 245 build-to-sell apartments across a mix of one, two, and three-bedroom residences, as well as two penthouses. Fifteen apartments and one operational unit are earmarked for NDIS housing. The co-living component would add a further 99 units, while the podium would accommodate retail uses and hotel facilities.

SJB said the site presents “a valuable opportunity to anchor the precinct by setting the standard for design, active ground planes and character at the key southern gateway.”

The architecture responds directly to the site’s position beside major transport infrastructure and within one of Newcastle’s fastest-evolving urban renewal precincts. The tower form sits above a sculpted podium designed to frame new public spaces, including a through-site pedestrian link connecting Station Street to Hannell Street, landscaped plazas, and activated retail edges.

<img alt="First look: Urban Property Group unveils Newcastle’s next supertower at Wickham interchange" data-entity-type="file" data-entity-uuid="a7bd6ff0-f7db-4ce8-a6dc-ea56e72c6149" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/wickham%20lanne.png?VersionId=xzf39VADyhj7zBQY2I9fx9vI62u2tuSb" />

The design report describes the project as part of the broader transition of Wickham into “a vibrant, high-quality mixed-use urban precinct” that leverages proximity to the station, open space, and regional connectivity.

A detailed public art strategy has also been prepared for the development. The strategy positions the project as “a transit-oriented development of state significance at the gateway to Newcastle’s city centre” and outlines a series of integrated artworks responding to Newcastle’s industrial and transport heritage.

Creative Road’s curatorial framework for the project, titled Unveil, draws on “stratified surfaces, carved volumes, and light-filled apertures” while referencing Newcastle’s transformation from an industrial city into a contemporary education and technology hub.

<img alt="First look: Urban Property Group unveils Newcastle’s next supertower at Wickham interchange" data-entity-type="file" data-entity-uuid="77a882bb-14b1-4d28-99ff-9438e39508c0" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/wickham%20site.png?VersionId=cevgo_vN0eKPK78P8YcEu3mKPLkpFqE7" />

The proposal is being advanced through the NSW Housing Delivery Authority pathway after being declared State Significant Development in June 2025. The accompanying scoping report states the development aims to “maximise the site’s proximity to the Newcastle Interchange by delivering transit-oriented development” while increasing housing supply and affordable housing provision within the Newcastle LGA.

Urban Property Group’s plans align with the long-term strategic vision established under the Wickham Master Plan, which identified the interchange precinct as suitable for substantial uplift in height and density. The current proposal would significantly intensify that vision, positioning the tower among the tallest developments proposed for Newcastle.

The site sits immediately north of the Newcastle Interchange, bounded by Dangar Street, Hannell Street, and Charles Street. It is surrounded by a rapidly growing cluster of residential towers and mixed-use projects that have emerged following the completion of the light rail and transport interchange.

First look: Urban Property Group unveils Newcastle’s latest tower at Wickham interchange

Bottega House has completed settlement of a landmark riverfront site in Macquarie Street, St Lucia, representing its first major Brisbane development.&nbsp;

Positioned on the banks of the Brisbane River, the <a href="https://www.apartments.com.au/new-apartments/180-macquarie-street-st-lucia-qld-4067">premium site at 180 Macquarie Street</a> features uninterrupted river frontage in one of Brisbane’s most tightly held residential precincts.&nbsp;

The proposed development, currently under assessment with Brisbane City Council, has been designed by <a href="https://www.apartments.com.au/architects/plus-studio">Plus Studio</a> with interiors by <a href="https://www.apartments.com.au/interior-designers/mim-design">Mim Design</a> and will deliver a boutique collection of premium residences positioned specifically for owner occupiers and downsizers.&nbsp;

The residences are set to redefine luxury apartment living in the area, with a focus on architectural quality, refined finishes, landscape integration and elevated amenities including curated wellness facilities, resort-style pools and recreation spaces rarely seen in the local market.&nbsp;

Exclusive sales for the project will be led by Keenan &amp; Byrne, ahead of an anticipated launch later this year.&nbsp;

Bottega House Managing Director Nick Malloch said the project reflects the group’s ambition to deliver a highly curated residential offering within one of Brisbane’s most tightly held precincts.&nbsp;

“This is an incredibly rare riverfront opportunity and one we have approached with a long-term perspective,” Malloch said.&nbsp;

“Our vision from the outset was to create a boutique collection of residences that feel more like private homes than traditional apartments, with generous proportions, refined finishes and exceptional amenity throughout."

Malloch says there is a&nbsp;lack of premium owner-occupier stock of this quality in the market, particularly for downsizers wanting space, privacy and a true lifestyle offering without compromise.&nbsp;

"Demand is expected to be strong given the scarcity of premium riverfront opportunities of this nature within Brisbane’s inner-west."&nbsp;

Bottega House secures landmark riverfront site in St Lucia 

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The arrival of the first piling rig officially marks the commencement of construction at SIERA’s new beachside apartment development, Exhale, in Northcliffe.

<a href="https://www.apartments.com.au/new-apartments/exhale-surfers-paradise-8-enderley-avenue-surfers-paradise-qld-4217">Exhale</a>, a glass-encased tower featuring 54 large-scale apartments at 8 Enderley Avenue, is SIERA’s third Gold Coast development. It follows the recently completed PIPIS Bilinga beachfront project, which achieved suburb-record prices, and the soon-to-be-completed Chevron Island development, Tapestry.

[smartcode_project:default project_id=112661 project_image_fid=359603]

<a href="https://www.apartments.com.au/developers/siera">SIERA</a> Founder and Managing Director Brent Thompson said the arrival of the piling rig represented a significant milestone for the development, which is scheduled for completion in late 2028.

Over the next month, around 260 piles are expected to be installed as work progresses on the basement structure. The building is anticipated to rise above ground level early next year, before unveiling its sculptural glass curtain wall, developed in collaboration with specialist façade engineers.

“The façade was designed to maximise panoramic coastal views while creating a distinctive architectural identity,” Thompson said.

[smartcode_project:default project_id=112661 project_image_fid=355935]

Designed by BDA Architecture, Exhale will comprise just 54 two- and three-bedroom residences across 26 levels, a level of low-density living rarely delivered in this beachside pocket between Surfers Paradise and Broadbeach.

The project has been conceived as a resident-only building, with no short-stay accommodation permitted. SIERA says the model is intended to appeal to long-term owner-occupiers rather than transient holiday demand.

[smartcode_project:default project_id=112661 project_image_fid=361052]

Residences have been designed with large-format layouts and expansive glazing, with most apartments featuring more than 30 metres of glass frontage to maximise natural light and ocean views.

The amenity offering spans two levels and centres on wellness and lifestyle, including a heated magnesium pool, sauna, yoga and Pilates studio, gymnasium, private dining facilities, cinema lounge, and dedicated surfcraft storage.

[smartcode_project:default project_id=112661 project_image_fid=359607]

More than half of the apartments have already sold. SIERA has also opened a sales gallery for Exhale at its Chevron Island commercial premises, near its Tapestry tower and the site of its second Chevron Island apartment development, which is slated to launch in early 2027.
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[smartcode_project_cta:default project_id=112661]

SIERA kicks off construction at Northcliffe tower Exhale

Residential Development

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Tuscan-inspired apartments are being built in Canberra's Campbell 5 residential development.
The apartments, named Siena, feature 53 units marketed as a 'contemporary take on a traditional Tuscan villa'.
The development will feature 12 one-bedroom, 21 two-bedroom and 18-three bedroom apartments, and two four-bedroom penthouses, with prices for a one bedroom apartment starting at $399,000.
JWLand head of marketing, public relations and research Kate Hulm said the apartments feature flexible floorplans, designed to accommodate residents’ changing lifestyle needs.
“Similar to our first release, Saint-Germain, Siena has been designed with owner-occupiers and downsizers in mind,” she said.
“This is reflected in the timeless, elegant interior design style. Carrara marble, natural stone and European fine oak feature strongly in the interiors.
“Ahead of a new release there is always a great deal of anticipation from current buyers, Campbell residents and members of the broader Canberra community,” Ms Hulm said.
“People often try to guess what the next theme will be and offer their own ideas and suggestions.
"Siena was an obvious choice as it’s renowned for its architecture.
“The city of Siena is also surrounded by beautiful landscapes and mountain ranges much like the development site at Campbell 5."
Campbell 5 releases include the Danish-inspired Koben, Manhattan-style Greenwich Park and Parisian Saint-Germain.
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Tuscan-inspired apartments slated for Canberra's Campbell 5

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Mandarin Oriental Hotel Group will develop a luxury hotel and residences on Melbourne's Collins Street slated to open in 2023.
The project is being developed by Melbourne-based property developer, Landream.
The development, titled Mandarin Oriental, will feature 196 guestrooms and suites as well as 148 residences, located on the tower’s upper floors.
The building design was created by architect Dame Zaha Hadid.
James Riley, Group Chief Executive of Mandarin Oriental said they are delighted with the opportunity to open their first hotel in Australia and look forward to bringing Mandarin Oriental’s legendary hospitality to Melbourne.
“This new development will be a welcome addition to the brand’s growing global portfolio,” he said.
Kevin Li, Managing Director of Landream said the Mandarin Oriental, Melbourne will set a new standard for luxury service in the city and will offer a preferred choice to travellers and potential homeowners who desire the finest accommodation.
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Mandarin Oriental to open luxury hotel and residence on Collins Street

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Mirvac's residential development Gainsborough Greens in Queensland's Pimpama has finalised its 1000th sale, with the region being named Australia's fastest growing housing market by the Housing Industry Association.
The development has cleared $275 million in sales since it was officially launched to the market in 2011.
More than 150 homesites have been taken in 2017, totaling $41 million.
Mirvac Queensland Residential General Manager, Warwick Bible, said the high demand for property in Gainsborough Greens, one of the largest masterplanned communities underway on the Gold Coast, was driven by a number of factors.
"Buyers can build a brand new home in Gainsborough Greens for less than  it would cost to purchase an older-style home, which may require renovation, in the central Gold Coast, just a few minutes drive south," he said.
"Considering recent figures from CoreLogic revealed the median house price on the Gold Coast had hit a record high of $600,000 in the 12 months to December, the starting price for house and land at Gainsborough Greens, which is currently $482,910, offers great value.
"There are also significant benefits that come with building a new home, such as the ability to choose the design and layout that best suits your lifestyle, including the latest fittings and finishes.
"The design of Gainsborough Greens and the location in Pimpama added to the appeal, with the community attracting a range of buyers, from first home buyers through to upgraders and empty nesters.
"A lot of purchasers comment on the green leafy surroundings and the community atmosphere at Gainsborough Greens, both of which we have significantly invested in.
"Around 65 percent of the community is dedicated to green open space, including parks and natural bushland reserve, and we have a regular calendar of events for all our residents, and the broader community, to enjoy.
"The location, with quick access to the motorway, also makes commuting to both the Gold Coast and Brisbane CBDs easy, and the ever-expanding array of infrastructure in the area, including some of the city's newest schools and shopping villages, adds to the lifestyle for residents."
Shane Stefanac and Melissa Gilmour will move into their new four-bedroom home at Gainsborough Greens later this year, after purchasing a homesite in the Pimpama community.
Mr Stefanac said the couple initially had their sights set on buying an existing home, until he discovered Gainsborough Greens by 'accident'.
"I came across Gainsborough Greens while going for a ride on my motorbike and thought it looked like a really nice community," he said.
"I had such a good feeling about the area that I went home and spoke to Mel about it and a week later we had purchased a block of land to build our dream home.
"We had been looking at existing homes for a while, but had been unable to find one that featured everything we were looking for in our price range.
"At Gainsborough Greens, Mel was able to design our new home from the ground up, just the way we wanted it. It is really nice to know we can build our home without the hassle of having to renovate."
"We decided to sell our apartment in Biggera Waters to build our new home.
"Both Mel and I love that there is so much natural bushland. It reminds me of growing up in Mudgeeraba and that rural feeling.
"It is definitely the perfect location to raise a family, halfway between the centre of the Gold Coast and Brisbane.
"Mel and I both work in Labrador, so it is really easy to get to work on the motorway and we also spend a lot of time in Brisbane with friends.
"Gainsborough Greens is really the perfect location for our lifestyle."
The Housing Industry Association named Pimpama as Australia's fastest growing housing market in its 'Population and Residential Building Hotspots 2017' report, based on population growth and residential building activity.
Homesites at Gainsborough Greens are priced from $246,000.  For more information, <a href="https://gainsboroughgreens.mirvac.com" target="_blank">click here</a>.
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Gainsborough Greens tees up 1000th settlement

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Romeciti has launched its 357-apartment Natura project in Macquarie Park, one of Sydney's booming residential construction precincts.
On the weekend, the developer sold 88 percent of its first stage launch of 210 apartments.
The total sales valued at $210 million.
This included a suburb record price of $5.6 million for a Grand Penthouse. All six Grand Penthouses have been sold prior to launch.
There were one bedroom apartments selling for $598,000 to $790,000.
The price range for two bedroom apartments was between $988,000 to $1,360,000.
The three bedroom apartments sold for $1.4 million to $1.6 million.
Selling agent RCG Real Estate's Justin Jia said most of the purchasers were owner occupiers.
The $450 million project is expected to be completed in 2020 with more than 7,000 square metres of communal gardens and 3,000 square metres of residential amenities.
Architects Architectus designed Natura, with living and communal space interiors designed by Elenberg Fraser, and landscaping designed by Aspect Studios.
Jia said these companies were specifically chosen to collaborate on this project.
Natura sits right next to an all natural creek, known as a riparian corridor, which is to be complemented with leafy pedestrian walks and cycle paths.
Romeciti will announce the stage two of Natura and its penthouses featuring the unique Rome Club services in coming weeks.
A high-end golf residential master plan community in Cattai is also in planning to be launched later this year.
 
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Romeciti has launched its 357-apartment Natura project in Macquarie Park

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A sub-penthouse apartment on Adelaide's Frome street residential development The Adelaidean has sold off the plan for more than $3 million.
The apartment, designed by architects Brown Falconer  is the amalgamation of two apartments on sub-penthouse level 34, and measures more than 300sqm.
Colliers International’s Nick Pelvay and James Polacek sold the apartment, with Pelvay saying it was a sign of buyers increasingly looking to the CBD to live and invest.
“The Adelaidean was only released to the market in May and we’ve received overwhelming feedback from buyers so far, with many apartments already under negotiation,” he said.
“This is an excellent example of a development that is able to meet buyers’ changing needs and lifestyle interests.”
Mr Polacek said Adelaide’s apartment market was maturing quickly, with downsizing owner-occupiers driving demand.
“There has been significant interest from buyers looking for three or more bedrooms, with an increasing number of purchases of more than $1million,” he said.
Owner occupiers who buy off the plan apartments over the next two years get a five-year hiatus from paying rates in addition to the current stamp duty exemptions for off the plan apartments.
For more information on The Adelaidean, <a href="https://www.adelaideanliving.com.au" target="_blank">click here</a>.
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Sub-penthouse in The Adelaidean sold for record $3 million

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A Box Hill site with the potential for high-rise development is on the market with price expectations around $10 million.
The 1305 square metre site at, 15-17 Prospect Street, features a two level office building with 31 metres frontage to Prospect Street.
It is currently leased to Cummins South Pacific, with the lease expiring May 2018 at a net annual rental of $1,000,840.
It is on the market through Savills’ Clinton Baxter and Nick Peden, and Colliers’ Peter Bremner and David Minton.
Peter Bremner said there was no doubt that the outstanding level of surrounding retail and lifestyle amenity would ensure that any redevelopment of the site would be highly sought after by end users.
"Box Hill is very well serviced by retail, educational and medical facilities, parks and gardens, public transport and access to Melbourne’ s arterial road network," he said.
"Should the purchaser proceed with a redevelopment of the property there is sure to be a ready market for the end product, alternatively an owner-occupier would be well satisfied with both the existing premises and the location."
Nick Peden said Box Hill is forecast to require 5242 new dwellings to accommodate its rapidly growing population by 2036, while commercial property demand remains strong with low vacancy rates in both office and retail sectors.
"The withdrawal of numerous commercial spaces for residential development has underpinned the strong and growing demand for commercial property,’’ he said.
The property will be sold by expressions of interest closing Wednesday, July 12 at 2pm.
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Prime Box Hill site to fetch $10 million

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Iris Capital lodged an application for its master-planned Newcastle residential development, East End.
The application comes following a lengthy consultation process with Newcastle Council.
The boutique residential development will have one, two and three bedroom apartments.
The master-planned development is part of the Newcastle rejuvenation project undertaken by the New South Wales Government.
It will feature a new multi-modal transport interchange, light rail and revitalisation of land in the heavy rail corridor, including housing, park, entertainment precincts and public spaces.
The project is the largest master-planned mixed-use sit in the city.
Iris Capital CEO Sam Arnaout says it is one of the most exciting times in Newcastle's rich history.
"The people of Newcastle have watched its CBD decay for several decades and we have a real opportunity to create a legacy for Novocastrians for generations to come," he said.
“The East End site is completely unique in its orientation and will be the showpiece of Newcastle’s continued rejuvenation,” he adds.
Mr Arnaout said the development respected the rigorous, tough and contested planning approval process that was undertaken on the Development Application masterplan.
“The Newcastle community and Council helped shape the development, and we respect the decisions that were made before Iris Capital purchased the site,” Mr Arnaout said
“We selected award-winning, international architects to deliver a world class design that respects the development approvals.”
Colliers International Director Dane Crawford is handling the marketing of the apartments.
East End is expected to attract a variety of buyers. Owner-occupiers will be drawn to the unique design concept and apartments on offer.
Many will be downsizers and empty nesters currently driving strong demand for good quality 3 bedroom apartments.
Iris Capital is also seeing interest from Sydneysiders continuing their journey north to make Newcastle home.
“The luxury market is currently under supplied in Newcastle and demand will continue to grow,” Arnaout says.
“The East End is a natural avenue for enjoying a world class lifestyle, where people can live, eat and play.”
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Iris Capital lodges application for East End in Newcastle

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The grand dame of St Kilda Road, the Charsfield mansion has witnessed many changes over the last 100 years, but none like the current.
A 19 level (60 metre) contemporary residential tower, designed by Rothelowman is being erected around it.
The development, by EBG Developments embraces the grand historic mansion.
With 60 percent of their purchasers being local buyers, the New Charsfield is now 85 percent sold.
Consisting of 150 apartments, the New Charsfield has been a popular development amongst well-heeled owner-occupier demanding a new level of lifestyle and luxury.
EBG Development’s sales team has been working with individual purchasers on combining the already large apartments into grander floor plates.
Approximately 10% of the New Charsfield is comprised of amalgamated apartments.
<img src="https://www.urban.com.au/images/2017/06/14/image001.png" alt="">
“We have had solid conversion from people who not only purchase, but purchase two or three apartments to co-combine,” the development manager, Allen Wang.
At an $8 million purchase price, one keen purchaser has combined two penthouse apartments to create a 450sqm external area and 440sqm internal area which features 360 degree views to port Phillip Bay, Albert Park and the CBD.
Architect, Stuart Marsland from Rothelowman said retention of the mansion has been a positive opportunity to celebrate the previous use, whilst allowing a contemporary insertion to exist behind.
For more information, <a href="https://www.rothelowman.com.au/home" target="_blank">click here</a>.
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The Rothelowman-designed New Charsfield, featuring St Kilda Road’s oldest mansion

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Property developer JQZ has submitted a development application to build a bridge directly connecting the Prime apartment development to the neighbouring Macquarie Centre in Sydney's Macquarie Park.
The proposal is for an enclosed pedestrian bridge connecting Prime apartments to the Macquarie Centre fresh food market.
Jian Qiu Zhang, Founder and CEO of JQZ, said interest in this exciting project has been very high from day one, given the integrated lifestyle on offer. 
"Prime will be a place where residents can work, play, shop and dine out right where they live," he said.  
"As well as the extensive range of premium and convenience shopping on offer, residents will have ready access to medical centres, banks, chemists, government utilities, travel agents and many other essentials.
“As well as the dining options made available by the Macquarie Centre bridge connection, the ground floor of Prime will be recessed to create an additional 1,600sqm of food and beverage offerings in a plaza area to activate the street frontage. 
"This landscaped public domain area will include restaurants, cafes and alfresco dining, as well as a children’s water play area and public art."
Prime will feature 680 one, two, three and four-bedroom penthouse apartments across four 20-storey towers, which will each sit on four-storey podiums. 
The development will feature a viewing platform overlooking the central plaza, a landscaped reading and meditation space, a 25-metre heated undercover pool and an adjoining spa and gym. 
One-bedroom apartments are available from $650,000, while two-bedroom apartments start from $990,000, and three-bedrooms from $1,380,000.
Stage 2 sales will be released on Saturday 17 June 2017.
The Prime sales gallery is open from 11am to 4pm (except Fridays) at 101 Waterloo Road, Macquarie Park. 
For more information, visit <a href="https://www.primemacquarie.com.au/" target="_blank">www.primemacquarie.com.au</a>
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Prime bridge extension to Macquarie Centre

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SPONSORED POST
The first residents of Campbell 5 have officially moved into their new homes this week in the $600 million mixed-use precinct in Canberra’s inner-north.
The Parisian-themed Saint-Germain residential apartment building is the first stage of development to be completed in the five stage project. 
Campbell 5 is Canberra’s first globally inspired, master planned community with each stage of development drawing inspiration from a different global city or precinct that is internationally renowned for its architecture, design and liveability.  
<img src="https://www.urban.com.au/images/2017/06/08/Screen%20Shot%202017-06-08%20at%2010.34.34%20AM.png" alt="">
As an all-encompassing destination village and park side living quarter, Campbell 5 is proving to be a popular choice for both owner occupiers and investors alike with strong sales results in the first three stages of release. 
Boasting the same luxury inclusions and smart technology you would expect to see in big city apartment developments, including a BMW electric share car, rooftop beer gardens with water views and high-tech home automation systems, Campbell 5 is changing the face of apartment living in Canberra. 
<img src="https://www.urban.com.au/images/2017/06/08/Screen%20Shot%202017-06-08%20at%2010.34.25%20AM.png" alt="">
JWLand’s Head of Development in the ACT, Michael Prendergast, attributes the popularity of the precinct to the quality of design.  
“We’ve taken inspiration from the most liveable cities in the world to deliver a higher standard of apartment living in Canberra. 
The home automation technology and communal spaces offered in Campbell 5 have resonated particularly well with buyers.  
We’ve incorporated smart technology such as a C5 precinct app and KNX home automation systems to allow residents to control lighting, heating and household appliances from their tablets or smartphones.”  
<img src="https://www.urban.com.au/images/2017/06/08/Screen%20Shot%202017-06-08%20at%2010.34.19%20AM.png" alt="">
Saint-Germain buyers Pam and Paul say their decision to relocate to an apartment in Campbell 5 was primarily motivated by a desire for “a more flexible lifestyle”. The location and design are what sold them on Saint-Germain. Of their new three bedroom luxury apartment, the couple says “ the position, style and overall design and finish” are what caught their eye - “ it is ideal for us”.
Construction on Stage 2, inspired by New York’s Greenwich Village, is expected to be completed in August 2017. Click <a href="https://www.campbell5.com.au/greenwichgrand/" target="_blank">here</a> to find out more.
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