Hero

<div class="row" data-reactroot=""><div class="cell cs12 cx12"><div class="row ci"><div class="cell cs12 cx12"><div class="ci cl"><p><strong>In an attempt to capitalise on Sydney’s second largest commercial hub, property fund manager Capital Property Funds has put its nine-storey Parramatta KPMG building on the market.</strong></p></div></div></div><div class="row ci"><div class="cell cs12 cx12"><div class="ci cl"><p>The 33-year-old commercial office tower was purchased by Capital Property funds for $30 million in 2015. The building was last valued in June of 2017 by Cushman &amp; Wakefield at $39.9 million but is now expected to fetch over $50 million.</p><p>Savills Australia in conjunction with Inc RE have been appointed to sell the property at 91 Phillip St.</p><p>“Record CBD office prices and rental rates are pushing companies to consider Sydney’s outer suburbs, with Parramatta quickly becoming a popular cost-effective option,” Savills&#x27; Simon Fenn said.</p><p>“The Parramatta office market is the most exciting in Australia, as it transitions into ‘Sydney’s second largest CBD’”.</p><p>Parramatta’s infrastructure pipeline includes the <a href="https://theurbandeveloper.com/articles/western-sydney-aerotropolis-gets-20bn-funding-boost-">Western Sydney Airport</a>, the $20billion WestConnex road investment program, the proposed <a href="https://theurbandeveloper.com/articles/-parramattas-1bn-light-rail-set-to-begin-construction-">Parramatta Light Rail</a> and the multimillion relocation of the <a href="https://theurbandeveloper.com/articles/nsw-state-local-government-team-deliver-maas-cultural-powerhouse-parramatta">Powerhouse Museum to Parramatta</a>.</p><p>Related Reading: <a href="https://theurbandeveloper.com/articles/rest-industry-super-to-sell-parramattas-eclipse-tower-">Rest Industry Super to Sell Parramatta’s Eclipse Tower</a></p></div></div></div><div class="row ci"><div class="cell cs12 cx12"><div class="ci cl"><p>KPMG spans the fourth largest amount of space in the &quot;KPMG building&quot; behind tenants Regus, Cunningham Lindsey and the NSW Government. Other notable companies such as Frank Knight and Scentre Group also occupy space in the building.</p><p>The building features 5,407 square metres of A-grade net leasable area and comes with 133 secure car parks.</p><p>“Parramatta currently has Australia’s lowest vacancy level across all major commercial markets, with total vacancy sitting at 3.0 per cent and zero A-grade vacancy,” Fenn said.</p><p>“We are addressing pent-up demand following a five-year period of limited construction activity and record low A-Grade vacancy.”</p><p>The sale will take place via domestic and international expressions of interest.</p></div></div></div></div></div>

In an attempt to capitalise on Sydney’s second largest commercial hub, Capital Property Funds has put the 9 storey KPMG building on the market.

hero

<div class="row" data-reactroot=""><div class="cell cs12 cx12"><div class="row ci"><div class="cell cs12 cx12"><div class="ci cl"><p><strong>ASX-listed Cedar Woods has announced that it has sold its third office building in Williams Landing for $25.93 million.</strong></p></div></div></div><div class="row ci"><div class="cell cs12 cx12"><div class="ci cl"><p>The building at 107 Overton Road has been purchased by Hellenic Property Investments, a subsidiary of the Hellenic Club of Canberra. </p><p>The deal was struck on a yield of 5.4 per cent.</p></div></div></div><div class="row ci"><div class="cell cs12 cx12"><div class="ci cl"><p>Construction on the property has commenced following the naming of the Hacer Group as the builder. </p><p>As construction is not yet finished, the terms of sale dictate that Cedar Woods will develop the property and hand it over in financial year 2020.</p><p>“The level of sales and the progress we’re making across our portfolio is particularly pleasing and provides a strong platform for full-year 2019 and full-year 2020,” Cedar Woods managing director Nathan Blackburne said.</p><p>Related Reading: <a href="https://theurbandeveloper.com/articles/cedar-woods-launches-strata-office-building-williams-landing">Cedar Woods Launches Strata Office Building at Williams Landing</a></p></div></div></div><div class="row ci"><div class="cell cs12 cx12"><div class="ci cl"><div><picture><img src="https://tud-prod-tudmedia-oj9w2zshuo0o.s3.amazonaws.com/raw/images/52cb81a5-9453-415f-9723-126e9f4d8233.jpeg" width="800"/></picture><div></div></div></div></div></div><div class="row ci"><div class="cell cs12 cx12"><div class="ci cl"><p><br>The sale comes just a few months after Cedar Woods announced that it would pre-sell the building. </p><p>The property will come fully-leased to the Victorian government for 15 years with two five-year options embedded.</p></div></div></div><div class="row ci"><div class="cell cs12 cx12"><div class="ci cl"><p>The other two buildings in Williams Landing that have been pre-sold by Cedar Woods are the Target head office and 111 Overton Road. The Target headquarters was pre-sold mid last year to Centuria Metropolitan Property Trust and is expected to settle in the coming financial year.</p><p>Cedar Woods has a significant stake in the Williams Landing area including twenty additional sites in the town centre as well as the Williams Landing shopping centre.</p></div></div></div></div></div>

  ASX listed Cedar Woods has announced that it has sold its third office building in Williams Landing.

<div class="row" data-reactroot=""><div class="cell cs12 cx12"><div class="row ci"><div class="cell cs12 cx12"><div class="ci cl"><p><strong>Property giant Dexus has snapped up the Reserve Bank&#x27;s Melbourne headquarters in a $160 million deal.</strong></p></div></div></div><div class="row ci"><div class="cell cs12 cx12"><div class="ci cl"><p>In a slightly smaller second deal Dexus also acquired the property next door, at 52 Collins St, for $70 million.</p><p>Dexus flagged plans to amalgamate the two sites and develop a total 35,000sq m in the medium term. </p><p>&quot;These acquisitions provide us with a presence in the tightly-held &#x27;Paris end&#x27; of Collins Street in the Melbourne CBD,&quot; Dexus chief executive Darren Steinberg said.</p><p>&quot;They also present us with a unique opportunity to undertake an office development creating long term value for investors in the next supply cycle.&quot;</p><p>Related: <a href="https://theurbandeveloper.com/articles/qic-acquisitions-brisbane-melbourne">QIC Lists Up to $2 Billion of Assets</a></p><p>Dexus office and industrial executive general manager Kevin George said Dexus expected office demand in Melbourne to remain strong.</p><p>&quot;[With] the vacancy rate to fall below 4 per cent next year and remain well below long term averages for the foreseeable future.&quot;</p><p>Surging demand for office space in Melbourne has <a href="https://theurbandeveloper.com/articles/melbournes-office-market-posts-strong-second-quarter-results">pushed the vacancy rate</a> to shrink below 4 per cent.</p><p>Settlement for 60 Collins St is expected by the end of October, while 52 Collins St is expected to settle in July 2019.</p></div></div></div></div></div>

Property giant Dexus has yesterday announced plans to purchase 60 Collins St, Melbourne for $160 million from the Reserve Bank.

<div class="row" data-reactroot=""><div class="cell cs12 cx12"><div class="row ci"><div class="cell cs12 cx12"><div class="ci cl"><p><strong>The Australian Broadcasting Corporation has announced plans to sell its Elsternwick landholding.</strong></p></div></div></div><div class="row ci"><div class="cell cs12 cx12"><div class="ci cl"><p>The listing of the 1.1-hectare property is being overseen by Savills Australia.</p><p>With 11,670 square metres of floor area, the property is said to hold promising development opportunities as it is currently zoned for residential growth.</p><p>After a recent move from the ABC to their new office in Southbank, site at 8 Gordon Street is being sold with vacant possession.  </p><p>Savills representatives have mentioned that they are expecting interest from “the full range of developers” from a variety of sectors.</p><p>Related: <a href="https://theurbandeveloper.com/articles/rf-corval-lists-sydney-tower-for-150m">George Street Tower Hits the Block for $150m</a></p></div></div></div><div class="row ci"><div class="cell cs12 cx12"><div class="ci cl"><div><picture><img src="https://tud-prod-tudmedia-oj9w2zshuo0o.s3.amazonaws.com/raw/images/70c371df-6509-4bc0-81f0-3a392c00386b.jpg" width="800"/></picture><div><span style="align-content:left;opacity:0.8">The Gordon Street studios in, Elsternwick are now up for sale.</span><span style="float:right;opacity:0.8">Image: Penny Stephens</span></div></div></div></div></div><div class="row ci"><div class="cell cs12 cx12"><div class="ci cl"><p><br>This is the first time the property has been on the market since its completion in 1965.</p><p>There has been some controversy over the listing, with some believing that the site has too much historical significance to fall into private hands.</p><p>The local council of Glen Eira have made appeals to the State Government to apply heritage protections to the site.</p><p>The studio was the filming location for shows like Countdown, Spicks and Specks and Kath and Kim.</p><p>The site has sat vacant since the ABC made the move to Southbank in 2017.</p><p>The sale will take place via expression of interest with an expected value of $40 million.</p></div></div></div></div></div>

The Australian Broadcasting Corporation have announced plans to sell their landholding in Elsternwick.

<div class="row" data-reactroot=""><div class="cell cs12 cx12"><div class="row ci"><div class="cell cs12 cx12"><div class="ci cl"><p><strong>ASX-listed Abacus Property Group has initiated a joint venture partnership with two funds managed by property investor ISPT in a deal worth $155 million.   </strong></p><p>The superfund-backed ISPT will take a 50 per cent stake in two of Abacus&#x27; &quot;super convenience&quot; retail assets: Ashfield Mall in Sydney and Lutwyche City Shopping Centre in Brisbane.</p><p>The first asset, the 24,853sq m Ashfield Mall, is a sub-regional shopping centre in Abacus&#x27; super convenience retail format. </p><p>Anchored by a Woolworths, Coles, ALDI and Kmart, the centre is currently 98 per cent occupied. ISPT’s Core Fund acquired its 50 per cent interest in the centre for $102.3m.</p><p>Abacus acquired the site in 1997. </p></div></div></div><div class="row ci"><div class="cell cs12 cx12"><div class="ci cl"><p>Related: <a href="https://theurbandeveloper.com/articles/abacus-buys-into-growing-melbourne-city-fringe-for-95m">Abacus Buys into Growing Melbourne City Fringe for $95m</a></p></div></div></div><div class="row ci"><div class="cell cs12 cx12"><div class="ci cl"><div><picture><img src="https://tud-prod-tudmedia-oj9w2zshuo0o.s3.amazonaws.com/raw/images/bc060b23-95f2-4e9c-aa24-60b8eebfc43b.jpg" width="820"/></picture><div><span style="align-content:center;opacity:0.8">Once refurbished, Brisbane&#x27;s Lutwyche City Shopping Centre (pictured) offer 22,100sq m of lettable retail area.</span></div></div></div></div></div><div class="row ci"><div class="cell cs12 cx12"><div class="ci cl"><p><br>The Lutwyche City Shopping Centre is the second asset </p><p>The ISPT Retail Australia Property Trust has acquired 50 per cent of the Lutwyche City Shopping Centre on a conditional forward funding arrangement. </p><p>The deal is worth about $53 million for Abacus. </p><p>The centre, located in a well-established inner-city Brisbane suburb is currently undergoing a large redevelopment to the super convenience format favoured by Abacus. </p><p>Lutwyche currently offers 12,103sq m of gross lettable area, with post refurbishment figures expected to be around the 22,100sq m mark with the inclusion of Woolworths, Coles and ALDI.</p><p>The centre was last valued in 2015 with an estimated value of between $70 and $80 million. </p><p>The cash inflow for Abacus from these two transactions in conjunction with <a href="https://theurbandeveloper.com/articles/abacus-exits-bacchus-marsh-announces-asset-divestment-of-138m">settlement of Bacchus Marsh Village Shopping Centre</a> will be approximately $217 million. </p><p>Abacus said in a statement that the cash will aid the company in reducing its short term debt position.</p></div></div></div></div></div>

ASX Listed Abacus Property has announced a new joint venture with two of ISPT’s managed funds.

Egypt Cover

<div class="row" data-reactroot=""><div class="cell cs12 cx12"><div class="row ci"><div class="cell cs12 cx12"><div class="ci cl"><p><strong>Construction has begun on Egypt’s shiny new capital city, which promises to ease the congestion of its overpopulated capital Cairo.</strong></p><p>Located 40 kilometres from Cairo, the US$45 billion ($60bn), yet to be named city is set to replace the tired Cairo capital, with the government promising &quot;a new lifestyle, new community and a new worldwide centre of attraction”. </p></div></div></div><div class="row ci"><div class="cell cs12 cx12"><div class="ci cl"><p>Cairo has been the capital of Egypt since 950 AD. </p><p>Egypt’s current president, Abdel-Fattah al-Sisi, will move into the city come June 2019. </p><p>The government also plans for the parliament and its departments, along with 700 government employees and a number of foreign embassies to transition into the new capital within the next 10 months. </p><p>Related: <a href="https://theurbandeveloper.com/articles/13-multi-billion-dollar-urban-renewal-projects">13 Multi-Billion Dollar Urban Renewal Projects</a></p></div></div></div><div class="row ci"><div class="cell cs12 cx12"><div class="ci cl"><div><picture><img src="https://tud-prod-tudmedia-oj9w2zshuo0o.s3.amazonaws.com/raw/images/1022e8d9-d2bd-4a00-9076-007e68ab5eb4.jpg" width="1200"/></picture><div><span style="align-content:left;opacity:0.8">Egypt 1</span><span style="float:right;opacity:0.8">Image: SOM</span></div></div></div></div></div><div class="row ci"><div class="cell cs12 cx12"><div class="ci cl"><p></p><p>The population of Cairo is expected to double from 18 million in the next 40 years. </p><p>“Cairo isn’t suitable for the Egyptian people, there are traffic jams on every street, the infrastructure can’t support the population, and it’s very crowded,&quot; project spokesman Khaled El-Husseiny said.</p><p>Without any specific masterplan, it has started to become ugly … there’s no humanity.&quot;</p><p>The new capital will span 700 square kilometres making it almost the same size as Singapore. </p><p>The announcement for the new city was made at an Egyptian investment conference in Sharm el-Sheikh. </p><p>It attracted US$12 billion ($16.1bn) worth of pledges from Kuwait, Saudi Arabia, and the United Arab Emirates. </p><p>Chinese banks will provide 85 per cent of the funding towards the $3 billion skyscraper portion of the new capital, which is being developed by the China State Construction Engineering Corporation.</p><p>The CSCEC finalised the deal to build a massive Central Business District for the new administrative capital in October last year. </p></div></div></div><div class="row ci"><div class="cell cs12 cx12"><div class="ci cl"><div><picture><img src="https://tud-prod-tudmedia-oj9w2zshuo0o.s3.amazonaws.com/raw/images/e3b4b759-1ec1-4dea-90cb-15dbbee37040.jpg" width="700"/></picture><div><span style="align-content:left;opacity:0.8">Egypt 2</span><span style="float:right;opacity:0.8">Image: Reuters</span></div></div></div></div></div><div class="row ci"><div class="cell cs12 cx12"><div class="ci cl"><p></p><p>The unnamed mega city will include around 2,000 schools, 600 health care facilities, 18 hospitals and 40,000 hotel rooms. It’s expected the new capital will be home to between five and seven million people. </p><p>One of the 20 towers featured in the design is set to be Africa&#x27;s tallest skyscraper, rising 345 metres.</p><p>&quot;We are talking about a world capital,&quot; Housing Minister Mostafa Madbouly said.</p><p>With construction under way, Madbouly announced that four builders have been appointed to implement the infrastructure for the new city. </p></div></div></div><div class="row ci"><div class="cell cs12 cx12"><div class="ci cl"><div><picture><img src="https://tud-prod-tudmedia-oj9w2zshuo0o.s3.amazonaws.com/raw/images/de25ac0c-e129-42dc-b8f2-5311a5ced089.jpg" width="1200"/></picture><div><span style="align-content:left;opacity:0.8">Egypt 3</span><span style="float:right;opacity:0.8">Image: SOM</span></div></div></div></div></div><div class="row ci"><div class="cell cs12 cx12"><div class="ci cl"><p></p><p>The development is not without criticism – many Egyptian citizens believe the city to be an unnecessary waste of money. </p><p>“The most concerning thing to me was the speed at which this is intended to be built – five to seven years,&quot; Vancouver’s former chief planner Brent Toderian said.</p><p>That’s incredibly fast. And if you build it that fast, it will be a ghost town, like most other development plays have been.&quot;</p><p>While it is clear that Cairo is no longer a part of Egypt&#x27;s future, only time will tell whether this new city can solve its many challenges.</p></div></div></div></div></div>

Construction has begun on Egypt’s new $60 billion administrative capital, located 40 kilometres from Cairo.

Tottenham Stadium

<div class="row" data-reactroot=""><div class="cell cs12 cx12"><div class="row ci"><div class="cell cs12 cx12"><div class="ci cl"><p><strong>&quot;Critical safety concerns&quot; has meant that the launch of Tottenham Hotspur&#x27;s new stadium in North London has been postponed. </strong></p><p>The £750 million (A$1.3 billion) development was marked for completion before the start of the new Premier League season that commenced last week.</p></div></div></div><div class="row ci"><div class="cell cs12 cx12"><div class="ci cl"><p>But a series of delays has caused major disruptions, meaning that Premier League and NFL matches have had to be relocated. </p><p>“The delays created by these difficulties mean test events need to be rescheduled to take place ahead of any first official match at the new stadium in order to achieve the safety licence,” a club statement said. </p><p>Related: <a href="https://theurbandeveloper.com/articles/etihad-stadiums-225m-makeover-fuels-stadium-battle-">Etihad Stadium’s $225m Makeover Fuels Stadium Battle</a></p></div></div></div><div class="row ci"><div class="cell cs12 cx12"><div class="ci cl"></div></div></div><div class="row ci"><div class="cell cs12 cx12"><div class="ci cl"><p><br>Construction of the new stadium, with naming rights outstanding, has occurred over two stages. </p><p>Phase 1 began in 2015 and encompassed the northern end of the stadium. The second phase began construction in June of 2017.</p><p>The existing 118-year-old White Hart Lane stadium was partially demolished at the end of the 2015-2016 season to allow construction of the new project. </p><p>The old stadium remained in use for the 2016-2017 season while construction went ahead around it. </p><p>Materials from the original stadium, such as concrete and bricks, have been incorporated into the new stadium.</p><p>Related: <a href="https://theurbandeveloper.com/articles/melbourne-park-victoria-esport-tournament">Melbourne One-Ups Sydney as Nation’s eSports Capital</a></p></div></div></div><div class="row ci"><div class="cell cs12 cx12"><div class="ci cl"><div><picture><img src="https://tud-prod-tudmedia-oj9w2zshuo0o.s3.amazonaws.com/raw/images/88904c90-164e-4bb2-9394-12bea18e9f5a.jpg" width="1600"/></picture><div><span style="align-content:left;opacity:0.8">New Tottenham stadium offers fans view of players’ tunnel for £400 (AUD$700) per game plus £30,000 (AUD$52,000) joining fee.</span><span style="float:right;opacity:0.8">Image: Tottenham Hotspur Football Club</span></div></div></div></div></div><div class="row ci"><div class="cell cs12 cx12"><div class="ci cl"><p><br>The new state-of-the-art stadium will feature a host of luxurious hospitality features. </p><p>Food and beverage options will be abundant with Michelin star quality restaurants, an in-house bakery and a microbrewery capable of delivering 10,000 pints per minute.</p><p>For the big spenders, there will be two sky lounges available as well as 65 private suites. </p><p>For a modest £30,000 (AUD$52,000) joining fee for two, plus £400 (AUD$700) per game, viewers can gain access to the exclusive ‘tunnel club’ to view players through one-way glass.</p><p>The new stadium will hold 62,062 spectators, doubling its previous capacity. </p><p>The stadium will also host two NFL games per year on a state-of-the-art retractable pitch.</p></div></div></div></div></div>

Delays surrounding critical safety concerns have meant that the new Tottenham Hotspur stadium has had to postpone its opening.

Magic Building

<div class="row" data-reactroot=""><div class="cell cs12 cx12"><div class="row ci"><div class="cell cs12 cx12"><div class="ci cl"><p><strong>Earlier this year development giant Grocon and The Royal Society of Victoria floated plans for a &quot;super slender&quot; residential skyscraper in the heart of Melbourne. </strong></p><p>If realised, the 60-story tower, named <a href="https://theurbandeveloper.com/articles/royal-society-of-victoria-grocon-announce-plans-for-melbournes-tallest-tower">&quot;Magic&quot;,</a> would become the nation&#x27;s and the southern hemisphere&#x27;s tallest skyscraper at 330 metres high.</p><p>Australian architects and developers have long tested the limits in terms of height within the world of construction, regularly utilising the most innovative technology to prove architectural theories.</p><p>While Magic remains just a concept, we thought we would take a look at Australia&#x27;s existing, tallest residential towers.</p><p>Related: <a href="https://theurbandeveloper.com/articles/first-residents-move-into-australias-tallest-tower">First Residents Move into Australia&#x27;s Tallest Tower</a></p></div></div></div><div class="row ci"><div class="cell cs12 cx12"><div class="ci cl"><hr/></div></div></div><div class="row ci"><div class="cell cell-sm-6 cx12"><div class="ci cl"><h2><strong>10. Circle on Cavill, Gold Coast</strong></h2></div></div><div class="cell cell-sm-6 cx12"><div class="ci cl"><h2>219.5m</h2></div></div></div><div class="row ci"><div class="cell cs12 cx12"><div class="ci cl"><div><picture><img src="https://tud-prod-tudmedia-oj9w2zshuo0o.s3.amazonaws.com/raw/images/110427a4-3243-4f13-bca8-f926cc163dd8.jpg" width="1600"/></picture><div></div></div></div></div></div><div class="row ci"><div class="cell cs12 cx12"><div class="ci cl"><p><br>Circle on Cavill at The Gold Coast is a $551 million two-tower development built by the Sunland Group.</p><p>The northern tower reaches 219.5m and is bounded by the main Surfers Paradise Boulevard at the western end of the famous Cavill Mall.</p></div></div></div><div class="row ci"><div class="cell cs12 cx12"><div class="ci cl"><hr/></div></div></div><div class="row ci"><div class="cell cell-sm-6 cx12"><div class="ci cl"><h2><strong>9. 568 Collins Street, Melbourne</strong></h2></div></div><div class="cell cell-sm-6 cx12"><div class="ci cl"><h2>224m</h2></div></div></div><div class="row ci"><div class="cell cs12 cx12"><div class="ci cl"><div><picture><img src="https://tud-prod-tudmedia-oj9w2zshuo0o.s3.amazonaws.com/raw/images/4589b0bf-7244-450a-82e9-573148bcb5dd.jpg" width="1600"/></picture><div></div></div></div></div></div><div class="row ci"><div class="cell cs12 cx12"><div class="ci cl"><p><br>568 Collins Street, developed by the Stamoulis Property Group, reaches 224 metres in height, making it one of the tallest buildings in Melbourne.</p><p>The $161 million tower includes 588 residential apartments spanning across 69 levels.</p></div></div></div><div class="row ci"><div class="cell cs12 cx12"><div class="ci cl"><hr/></div></div></div><div class="row ci"><div class="cell cell-sm-6 cx12"><div class="ci cl"><h2><strong>8. Vision Apartments, Melbourne</strong></h2></div></div><div class="cell cell-sm-6 cx12"><div class="ci cl"><h2>229m</h2></div></div></div><div class="row ci"><div class="cell cs12 cx12"><div class="ci cl"><div><picture><img src="https://tud-prod-tudmedia-oj9w2zshuo0o.s3.amazonaws.com/raw/images/732102ea-6692-43f9-ae9f-3cf3b05cecaf.jpg" width="1600"/></picture><div></div></div></div></div></div><div class="row ci"><div class="cell cs12 cx12"><div class="ci cl"><p><br>Vision Apartments is currently the second–tallest residential building in Melbourne. </p><p>The 1,030sq m site, which was previously occupied by a 150–year–old hotel, was bought at an auction for $11.8 million by property developers The Brady Group.</p><p>The $500 million project comprises 500 residential apartments spanning across 69 levels.</p></div></div></div><div class="row ci"><div class="cell cs12 cx12"><div class="ci cl"><hr/></div></div></div><div class="row ci"><div class="cell cell-sm-6 cx12"><div class="ci cl"><h2><strong>7. World Tower, Sydney</strong></h2></div></div><div class="cell cell-sm-6 cx12"><div class="ci cl"><h2>230m</h2></div></div></div><div class="row ci"><div class="cell cs12 cx12"><div class="ci cl"><div><picture><img src="https://tud-prod-tudmedia-oj9w2zshuo0o.s3.amazonaws.com/raw/images/670050e4-9bfb-447d-9583-7f9c7698fd5f.jpg" width="1600"/></picture><div></div></div></div></div></div><div class="row ci"><div class="cell cs12 cx12"><div class="ci cl"><p><br>The Fender Katsalidis designed tower comprises 701 residential apartments spread across 75 levels.</p><p>The tower was developed and constructed by Meriton and has been the tallest residential building in Sydney since 2004.</p></div></div></div><div class="row ci"><div class="cell cs12 cx12"><div class="ci cl"><hr/></div></div></div><div class="row ci"><div class="cell cell-sm-6 cx12"><div class="ci cl"><h2><strong>6. Soul, The Gold Coast</strong></h2></div></div><div class="cell cell-sm-6 cx12"><div class="ci cl"><h2>242.6m</h2></div></div></div><div class="row ci"><div class="cell cs12 cx12"><div class="ci cl"><div><picture><img src="https://tud-prod-tudmedia-oj9w2zshuo0o.s3.amazonaws.com/raw/images/9df28048-57a3-4d7e-ba13-c3cb165a09a8.jpg" width="1600"/></picture><div></div></div></div></div></div><div class="row ci"><div class="cell cs12 cx12"><div class="ci cl"><p><br>Construction of Soul was completed on 2012, making it the second tallest building on the Gold Coast.</p><p>The 77 floor tower was designed by local architect DBI Design.</p><p>The GFC caused apartment sales to stagnate which resulted in Mantra Group taking over management rights in 2013.</p></div></div></div><div class="row ci"><div class="cell cs12 cx12"><div class="ci cl"><hr/></div></div></div><div class="row ci"><div class="cell cell-sm-6 cx12"><div class="ci cl"><h2><strong>5. Soleil, Brisbane</strong></h2></div></div><div class="cell cell-sm-6 cx12"><div class="ci cl"><h2>243m</h2></div></div></div><div class="row ci"><div class="cell cs12 cx12"><div class="ci cl"><div><picture><img src="https://tud-prod-tudmedia-oj9w2zshuo0o.s3.amazonaws.com/raw/images/9532489f-1685-4fb1-91d3-3bd461a39cc5.jpg" width="1600"/></picture><div></div></div></div></div></div><div class="row ci"><div class="cell cs12 cx12"><div class="ci cl"><p><br>Soleil officially opened in 2011 and was Brisbane&#x27;s tallest building until 2013 when Infinity Tower overtook it.</p><p>The $900 million tower is situated on a relatively small 1,500sq m plot.</p><p>It contains 25 floors of serviced apartments, owned by Meriton, and 43 floors of private residential apartments.  </p></div></div></div><div class="row ci"><div class="cell cs12 cx12"><div class="ci cl"><hr/></div></div></div><div class="row ci"><div class="cell cell-sm-6 cx12"><div class="ci cl"><h2><strong> 4. Infinity Tower, Brisbane</strong></h2></div></div><div class="cell cell-sm-6 cx12"><div class="ci cl"><h2>249m</h2></div></div></div><div class="row ci"><div class="cell cs12 cx12"><div class="ci cl"><div><picture><img src="https://tud-prod-tudmedia-oj9w2zshuo0o.s3.amazonaws.com/raw/images/669eb852-a19b-4396-9c1a-d2c2a6d19bcf.jpg" width="1600"/></picture><div></div></div></div></div></div><div class="row ci"><div class="cell cs12 cx12"><div class="ci cl"><p><br>Infinity is Brisbane’s tallest residential tower, with 549 residential apartments spread over 81 levels.</p><p>The site, which was formerly a ground level carpark, was purchased by Meriton for A$25 million.</p><p>The relatively small site that the tower was built on is part of the North Quarter district of the Brisbane CBD.</p></div></div></div><div class="row ci"><div class="cell cs12 cx12"><div class="ci cl"><hr/></div></div></div><div class="row ci"><div class="cell cell-sm-6 cx12"><div class="ci cl"><h2><strong>3. Prima Pearl, Melbourne</strong></h2></div></div><div class="cell cell-sm-6 cx12"><div class="ci cl"><h2>254m</h2></div></div></div><div class="row ci"><div class="cell cs12 cx12"><div class="ci cl"><div><picture><img src="https://tud-prod-tudmedia-oj9w2zshuo0o.s3.amazonaws.com/raw/images/7767bcdb-530f-4bb1-92ec-ade6e08285a6.jpg" width="1600"/></picture><div></div></div></div></div></div><div class="row ci"><div class="cell cs12 cx12"><div class="ci cl"><p><br>The Prima Pearl, located in Southbank, is the fourth–tallest building in Melbourne and the sixth–tallest building in Australia.</p><p>Developer PDG Corporation and Schiavello worked with construction giant Multiplex to build the $292 million skyscraper.</p></div></div></div><div class="row ci"><div class="cell cs12 cx12"><div class="ci cl"><hr/></div></div></div><div class="row ci"><div class="cell cell-sm-6 cx12"><div class="ci cl"><h2><strong>2. Eureka Tower, Melbourne</strong></h2></div></div><div class="cell cell-sm-6 cx12"><div class="ci cl"><h2>297.3m</h2></div></div></div><div class="row ci"><div class="cell cs12 cx12"><div class="ci cl"><div><picture><img src="https://tud-prod-tudmedia-oj9w2zshuo0o.s3.amazonaws.com/raw/images/6be73192-d9c3-4767-bd1d-21eed5666a58.jpg" width="1600"/></picture><div></div></div></div></div></div><div class="row ci"><div class="cell cs12 cx12"><div class="ci cl"><p><br>Eureka Tower is a residential skyscraper located in the Southbank precinct of Melbourne.</p><p>The building is named after the Eureka Stockade, a rebellion during the Victorian gold rush in 1854.</p><p>The project was designed by Melbourne architectural firm Fender Katsalidis Architects and was developed and built by Grocon. </p></div></div></div><div class="row ci"><div class="cell cs12 cx12"><div class="ci cl"><hr/></div></div></div><div class="row ci"><div class="cell cell-sm-6 cx12"><div class="ci cl"><h2><strong>1. Q1, The Gold Coast</strong></h2></div></div><div class="cell cell-sm-6 cx12"><div class="ci cl"><h2>322.5m</h2></div></div></div><div class="row ci"><div class="cell cs12 cx12"><div class="ci cl"><div><picture><img src="https://tud-prod-tudmedia-oj9w2zshuo0o.s3.amazonaws.com/raw/images/7a76461b-9809-40b4-986b-220a1ff4e308.jpg" width="1600"/></picture><div></div></div></div></div></div><div class="row ci"><div class="cell cs12 cx12"><div class="ci cl"><p><br>The residential tower, developed by Sunland Group, lost its title as the world&#x27;s tallest residential building to the 337m Marina Torch in Dubai on 29 April 2011. </p><p>It is now the sixth-tallest residential tower in the world and is the tallest building in Australia and the Southern Hemisphere, and the second-tallest free-standing structure in the Southern Hemisphere, behind the Sky Tower in Auckland, New Zealand.</p></div></div></div></div></div>

Here are Australia's top 10 tallest residential towers.                                            

<div class="row" data-reactroot=""><div class="cell cs12 cx12"><div class="row ci"><div class="cell cs12 cx12"><div class="ci cl"><p><strong>ASX-listed investment firm Propertylink has listed a 14-storey office tower in North Sydney, with price expectations of about $68 million.</strong></p><p>The 80 Mount Street building, acquired by Propertylink and co-investor Goldman Sachs in 2016, has been listed by Knight Frank in conjuction with CBRE. </p><p>The B-grade tower was one of nine assets in the Denison Portfolio which Goldman Sachs and Propertylink acquired as part of their Property Enhanced Partnership fund. </p><p>Propertylink and Goldman Sachs have more than doubled their profit, with the portfolio now estimated to be worth around $340 million. The duo picked up the Denison Portfolio for $141.93 million. </p></div></div></div><div class="row ci"><div class="cell cs12 cx12"><div class="ci cl"><p>Related: <a href="https://theurbandeveloper.com/articles/aqualand-completes-sale-of-north-sydney-tower-for-594m">Aqualand Completes Sale of North Sydney Tower for $59.4m</a></p></div></div></div><div class="row ci"><div class="cell cs12 cx12"><div class="ci cl"><p>The tower at 80 Mount St comprises 6,292 square metres of B-grade net leasable area on a 652sq m site. Major tenants include A2 milk and Tract Consulting. Since being acquired, the tower has undergone renovations to the lobby, bathrooms and lifts. </p><p>Propertylink and Goldman Sachs are aiming to take advantage of the current market and realise the value added through their refurbishments.</p><p>“80 Mount Street is expected to attract strong interest from both local and offshore buyers as it is the best value-add opportunity located in the heart of the North Sydney CBD,” Knight Frank head of sales Tyler Talbot said.</p><p>The completion of nearby <a href="https://theurbandeveloper.com/articles/nbn-co-100-mount-north-sydney-dexus">100 Mount Street </a>and <a href="https://theurbandeveloper.com/articles/-winten-appoints-new-builder-for-1bn-1-denison-street-tower">1 Denison Tower</a> developments and the opening of a new Metro Station in 2024 will guarantee rental growth for years to come, the agents said.  </p><p>80 Mount St will be sold via expressions of interest closing late August. </p></div></div></div></div></div>

Propertylink has announced a plan to list its 14 storey B Grade office building in North Sydney.

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<div class="row" data-reactroot=""><div class="cell cs12 cx12"><div class="row ci"><div class="cell cs12 cx12"><div class="ci cl"><p><strong>Iris Capital has lodged plans with the City of Newcastle for the second stage of its $700 million revitalisation project in Newcastle&#x27;s East End.</strong></p><p>The Sam Arnaout-led company submitted a development application for 129 new apartments across 13,695sq m and nine tenancies offering 1,500 square metres of retail floor space.</p><p>The developer acquired the 1.66-hectare site from GPT in late 2016 for $39 million. </p><p>Stage two features a number of mixed-use buildings ranging from three to eight-storeys. Tying the block together will be a centrally-located landscaped courtyard. </p><p>The buildings will contain a total of 129 dwellings and 1,510 square metres of commercial and retail floor space.</p></div></div></div><div class="row ci"><div class="cell cs12 cx12"><div class="ci cl"><p>Related Reading: <a href="https://theurbandeveloper.com/articles/revitalising-newcastle-behind-the-citys-billion-dollar-boom">Revitalising Newcastle: Behind the City&#x27;s Billion-Dollar Boom</a></p></div></div></div><div class="row ci"><div class="cell cs12 cx12"><div class="ci cl"><div><picture><img src="https://tud-prod-tudmedia-oj9w2zshuo0o.s3.amazonaws.com/raw/images/4449a5a9-6dae-44a1-b2cd-4619e875bada.png" width="753"/></picture><div><span style="align-content:left;opacity:0.8">Image 1</span><span style="float:right;opacity:0.8">CKDS Architecture</span></div></div></div></div></div><div class="row ci"><div class="cell cs12 cx12"><div class="ci cl"><p><br>Iris is masterplanning the East End Precinct at Newcastle, with the first stage of the project to include a 108-unit, 11-storey tower.</p><p>Stage one of the precinct is currently under construction, with demolition work on the former David Jones  site starting last month.</p><p>All up, stage one comprises 228 apartments across three buildings with 3600sq m of retail space.</p><p>Related Reading: <a href="https://theurbandeveloper.com/articles/east-end-newcastle-iris-capital">Newcastle&#x27;s East End Retail Precinct Revealed</a></p></div></div></div><div class="row ci"><div class="cell cs12 cx12"><div class="ci cl"><div><picture><img src="https://tud-prod-tudmedia-oj9w2zshuo0o.s3.amazonaws.com/raw/images/61b45e54-4ddd-417d-86cb-ac214e1b7a65.png" width="749"/></picture><div><span style="align-content:left;opacity:0.8">Image 2</span><span style="float:right;opacity:0.8">CKDS Architecture</span></div></div></div></div></div><div class="row ci"><div class="cell cs12 cx12"><div class="ci cl"><p><br>The stage two design is a collaborative effort between lead architect SJB and CKDS Architecture. The second stage features an internal landscaped courtyard and north-south laneway dividing the built forms. <br><br>The plans feature the adaptive reuse of the former Lyric Theatre with consent given by a number of Indigenous communities. </p><p>The East End precinct will cross four city blocks with stage one of the project set to be complete by 2020. </p></div></div></div></div></div>

Iris Capital has lodged plans with the City of Newcastle for the second stage of its $700 million revitalisation project in Newcastle's East End.