Development

Instability in the broader construction sector is adding further pressure to a constrained residential pipeline as Australia faces a mounting rental and housing crisis. 

Mirvac has established a strategic relationship with Japanese Real Estate company, Daibiru, which is investing in a 50 per cent share of Mirvac’s next generation workplace development, 7 Spencer Street.

Summer on the Gold Coast was humming with apartment buyers and Royale Gold Coast captured the hearts of many to achieve over $41million in apartment sales over just three months.

Lendlease and Mitsubishi Estate Asia’s luxury residential tower, One Circular Quay, has reached a new milestone, surpassing $1 billion worth of sales as construction powers ahead to deliver the highly sought-after residences on the doorstep of Sydney’s world-renowned harbour. Since its exclusive off-market launch in late-2022, more than 50 per cent of residences have pre-sold.

Trackside House at Moonee Valley Park, the anticipated first track-fronting residential offering at the $2 billion redevelopment of Moonee Valley Racecourse, has defied challenging market conditions to generate approximately $100 million worth of pre-sales.

Diversified property developer Time & Place and joint venture partner MaxCap Group, one of Australia’s leading real estate investors, has received an approved permit for the proposed plans at its 2,678sqm site at 75 – 119 Cubitt Street, Cremorne.

After selling out all 40 apartments in the Stage One release to achieve $82 million in sales within a few months of launching, Jewel Private Residences has now released another 30 premium apartments to the market in the Sapphire Collection.

A landmark super site earmarked for future commercial and industrial use within Geelong’s major new employment precinct in the Avalon growth corridor is up for sale.

The first stage of what is set to become Gippsland’s largest industrial and commercial estate, ICON Morwell, has been brought to market by Colliers’ Gordon Code, Sam Hibbins, Luke Lowden and Fraser Pearce in conjunction with Rennie Property Sales’ Peter Rennie and Mary Ioannou on behalf of Homeington Building Group.

The former Kodak building and Carlton & United Breweries headquarters in Abbotsford is set for a new chapter as a self-storage facility after being sold for $19 million.

Lendlease today unveiled plans for its new mixed-use development that is set to revitalise Melbourne’s landmark intersection at Flinders and Swanston streets in the CBD, following endorsement of its development plans.

The State Government recently released the Central Geelong Framework Plan providing a long-term strategic land use plan for the development of Central Geelong to 2050, as the city continues on a rapid growth trajectory, having experienced significant growth over the last decade, accelerated by the recent pandemic.

A prime inner city development site with uninterrupted views of the CBD and development approval for a 12 story luxury residential apartment complex has been sold by Colliers agents Nick Wedge, James Matley and Hunter Higgins.

The new $430million Burly is on track to be delivered to North Burleigh on the Gold Coast, with the development application approval for the luxury residential apartment building to be constructed on the large amalgamated double site overlooking the beach.

Premier global construction company Multiplex has reached practical completion of Stage Two of Far East Consortium’s $2 billion West Side Place in Melbourne’s CBD, representing overall completion of the largest mixed-use development undertaken in the city in the last decade.