Bianca Drummoyne names Trescon as builder for luxury waterfront residences

Sydney developers Central Element and Develotek’s waterfront project, Bianca Drummoyne, has appointed builder Trescon following a successful sales launch.

Regarded as one of Sydney’s best-performing apartment projects by, Bianca comprises 12 three- and four-bedroom waterfront residences with views of Drummoyne Bay and the city skyline. Recent sales have seen record prices, attracting downsizers and empty-nesters alike.

Prices range from the mid-to-high $3m’s to high $8m’s for direct waterfront units.

Trescon is well known for previous luxury-residence projects, including a Point Piper revamp that sold for $69m. Collaborating with SJB, Trescon will create waterfront properties that are ‘seamlessly connected to their surroundings’.

Construction is set to begin in early 2024.

‘Star of the Sea’ set to shine on Gold Coast’s ‘breathtaking’ Broadwater

One of the Gold Coast’s most anticipated projects, ‘Star of the Sea’, is expected to ‘dazzle’ when it hits the market next week.

Located at 60 Marine Parade, Southport, the multi-stage lifestyle precinct spans 13,785 sqm with freehold single ownership. The QLD Government and Gold Coast City Council have granted preliminary development approval, designating it as a priority development area within the Southport CBD.

The finished project will see a transformative five-tower precinct soaring up to 335m (68 levels). With an approval timeline of only four months, investors can expect it to seamlessly integrate into the Gold Coast skyline and cater to diverse community needs, with tourism facilities, residential complexes and more.

$400m premium residential development hits 80% sales

SIG Group’s premium residential development, Amory, adjacent to Ripley Town Centre near Ipswich, has now hit 80% in sales after its first release. These impressive figures show just how strong demand is in QLD’s booming western growth corridor.

The $400m development is giving buyers one final opportunity to acquire the last available homes in Ripley.

Amory comprises over 600 homesites of varying lot sizes. With development approval secured, construction will commence in the new year and aims for completion by early 2025.

Positioned for its convenience and lifestyle opportunities, Amory is close to the railway precinct and has immense growth potential for the future, including a proposed train station.

Boutique luxury in new Potts Point residences

Third.i and Toohey Miller have collaborated for Muse Potts Point, a boutique project housing 13 residences in one of Sydney’s most sought-after suburbs.

Designed by WMK Architecture, the façade blends ‘contemporary with timelessness’ to capture the heritage of the site.

Given the demand for premium properties in Sydney’s eastern suburbs, Muse Potts Point is expected to attract prestige downsizers looking for a sophisticated urban lifestyle. Recent market analysis shows that boutique residences such as these are well suited to suburbs like Potts Point given the increased interest from this buyer group.

Construction will commence in late 2023 with completion by Christmas 2025.

QLD approves Arundel Hills redevelopment

The new owner of the Arundel Hills Country Club has welcomed the QLD Government’s conditional approval for its proposed redevelopment of the site. The development plan includes 380 new homesites, with 59% of the 67ha site dedicated to environmental protection and public open space.

The proposed master plan involves gifting a significant portion of the site to AB Paterson College for sporting facilities and indoor stadiums.

Conditional approval by the State Assessment Referral Agency is focused on the sustainable redevelopment of the area, which includes at least 2,257 koala habitat trees to be planted on-site and upgrading the Brisbane Road—Arundel Drive intersection.

 Former SA Lotteries building sells for over $5m

A prime corporate office building in Marleston, once home to SA Lotteries, has sold for more than $5m. Acquired by the EDP Hotel Group and Living Choice Australia, the two-level building is 10 minutes’ west of the Adelaide CBD and will become their corporate headquarters.

The expression-of-interest campaign attracted a number of keen buyers, totalling more than 50 enquiries and seven offers.

The buyers plan to consolidate their operations and administration teams from various locations and centralise them at this Marleston hub. The property features a flexible fit-out and ample parking and will become a strategic inner-west asset for the buyers.

Surging land-value rates see Wetherill Park site sell for $25m

In a massive – but perhaps not unexpected – surge, a Wetherill Park industrial site fetched $25m, marking a substantial increase in land value rates for 2ha parcels in Sydney’s metro west.

The 23 Davis Road site spans 2.028ha and rose in value from $350/sqm to $1,250/sqm over the past nine years. The property, leased to InfraBuild Australia, saw a remarkable 257% increase all up.

The deal lines up with Wetherill Park’s strategic importance, with the NSW Ports Plan 2063 indicating that 30% of NSW imports are directed to the suburb.

The sale was orchestrated by CBRE and Bishop, representing private vendors.

Emerald Place hopes to reignite South Melbourne business landscape

South Melbourne will experience a major shift in its business landscape thanks to Emerald Place, a new project by Lowe Living and ICON Developments.

Backed by a rapid planning permit approval, the collaboration promises a design-led and high-quality development that draws inspiration from Victorian charm.

The mixed-use residential and commercial building will include 12 premium strata office tenancies for sale on the first and second floors.

Strong sales are expected, due in large part to nearby ANZAC Train Station’s upcoming launch in 2025. The project reflects the market’s demand for high-quality, privately owned office spaces in South Melbourne – without the more expensive rents of the CBD.

Eye-catching St Kilda corner block on the market for $85m

Melbourne’s eye-catching 420 St Kilda Road complex is hitting the market for around $85m.

Regarded by its offshore owner as the jewel of St Kilda Road, the property boasts a 100% freehold status and stands out with its timeless glass-curtain façade. With a 10,435 sqm net lettable area (NLA) and 132 car bays, the site is expected to attract plenty of interest from investors locally and abroad.

Currently 75% occupied, it presents a stable income base and potential for high returns, with built-in rent reversion and long-term income growth potential. Its prime location at the Toorak Road junction also means there are future NLA or redevelopment possibilities.

The complex’s proximity to tram stops and the upcoming ANZAC Station should make it extra appealing for investors.

Offshore investor acquires aged-care centre, plans to refurbish and reopen

An international investor has spent $12m on a vacant aged care home in Donvale VIC, with plans to refurbish and reopen the facility in the near future.

The 296-302 Springvale Road property is 18,224 sqm and features a 6,600 sqm two-storey facility with 115 beds. The aged care home was previously operated by Bupa before shutting its doors in mid-2022.

This is yet another sale in a long line of purchases from Chinese investors who are interested in aged care, health and childcare assets.

CBRE’s Marcello Caspani-Muto notes there’s an increasing number of vacant seniors living and healthcare assets around Australia, with strong activity seen in the VIC market and a flow-on effects expected across QLD and NSW.