The Metro Tunnel will create a new end-to-end rail line from Sunbury in the west to Cranbourne/Pakenham in the south east Receive project updates and notifications for works and disruptions delivered to your inbox Add articles to your saved list and come back to them any time Residential developer Tim Gurner is moving his firm’s headquarters into nearly three floors of Alfasi Property’s new $100 million office project including build-to-rent and funds management into the location on the eastern side of the Como Centre Gurner is moving into Alfasi’s 10 River Street building in South Yarra “When we leased our second office location just two years ago we never imagined we’d outgrow it so quickly,” the chief executive of Gurner’s operation “We now require a much larger footprint to support these functions and future-proof the growth of our business across the many divisions.” was completed in November and is now 75 per cent leased It promises features including a wellness centre Gurner has also gone hard on wellness centres at its residential projects The Saint Haven clubs division has been wildly successful although the Collingwood club was listed as an alert site for measles exposure last week by the Victorian Health Department Alfasi bought the 2116 sq m super-site in what was once South Yarra’s industrial-commercial precinct in 2017 The active developer had originally planned to build a hotel on the site and signed up the Hyatt Centric chain Alfasi decided to radically shift the building’s use to high-end office Lemon Baxter agents Josh Tebb and Stephanie McConville and CBRE’s Josh Jennings and Anthony Park are working on the leasing campaign “Office leasing demand has picked up in 2025 and tenants are taking more space,” Tebb said Former Carlton footy club president and veteran property play Mark LoGiudice is flipping a Cremorne office he picked up early last year The two-storey corner office at 104-108 Dover Street is in the heart of the suburb’s commercial redevelopment precinct Records show LoGiudice paid $3.24 million last year and then refurbished the 715 sq m building though the 380 sq m parcel of land on the corner of a laneway could attract someone with an eye on future development Peter Bremner and Tom Maule are handling the listing along with Teska Carson’s Matthew Feld and Luke Bisset Deakin University’s Battery Research and Innovation Hub in Burwood is for sale at a price less than its very expensive fitout Deakin has only 18 months left on the lease of the 154 Highbury Road property but no one is expecting any tenant movements as the specialised fitout cost between $8 million and $10 million Michael Gross and Glenn Ye have the listing and are quoting an expected price of more than $6 million Deakin’s Battery Research Hub at 154 Highbury Road “The fitout is more expensive than the building,” Clark said Said Gross: “Given the capital expenditure this makes Deakin University a sticky tenant and important for the upcoming lease options.” The 2318 sq m industrial warehouse-office building is close to Deakin’s main campus and the proposed Suburban Rail Loop’s Burwood station It returns $391,140 a year in rent and last changed hands in 1997 for $2.25 million It’s a rare investment offering because owner-occupiers are on the march everywhere else an owner-occupier bought 714-716 High Street before the building even hit the market The vacant 902 sq m office fetched $4.35 million in a deal negotiated by Colliers’ Alex Browne and Matt Knox “We are currently dealing with over 80,000 sq m of active office owner-occupier requirements the buyer acted swiftly to secure the property before it was marketed publicly,” Browne said Records show that construction group City Circle paid $4.4 million for the property in 2017 at the peak of the last property cycle 48 tram line and close to the Eastern Freeway Former agent-turned investment manager Mark Wizel has put his shingle up on a basement strata space for sale at 415 Bourke Street Wizel said one of his funds bought the 242 sq m basement at the foot of Rochelle House last year for $1.08 million and is expecting to flip it for $1.5 million to $1.7 million “It’s between the NAB headquarters and the new CBA headquarters on the other side,” he said Turn left: The door to the basement space at 415 Bourke Street he is not expecting to make a comeback as an agent “I do think about it often as I miss it a lot on this occasion I am just handling the sale of one of the properties we own in the fund,” he said retired criminal lawyer Bernie “the attorney” Balmer is selling his penthouse office in the Forecourt Building on Hardware Street Balmer’s daughter Anna Balmer and Sally Vardy have taken over Balmer & Associates The 222 sq m level-four office at 116-112 Hardware Street is at the quieter west end of the popular hospitality strip Records show Balmer paid $605,000 for the office in September 2005 It’s expected to fetch more than $1.5 million Cushman & Wakefield agents Anthony Kirwan and Jack Cooper are handling the sales campaign Vinci Carbone are selling a vacant basement and 313 sq m ground floor office at 262 Queen Street The 286 sq m basement of the five-level building is used as a car park with room for seven cars The property is pitched at an owner-occupier It’s expected to sell in the mid-to-high $2 million range Owner-occupiers are the keenest buyers of office space right now especially with interest rates tipped to fall during the year An insurance company has spent $3 million on level eight of 171 La Trobe Street a tower on the corner of Russell Street designed by Nonda Katsilidis in the early 1990s Cushman & Wakefield’s Kirwan and George Davies sold the 434 sq m office A local investor has snapped up one of the city’s best known chippies paying $2,755,000 for the Port Melbourne shop which overlooks Station Pier and Port Melbourne beach was established by former VFL/AFL footballer and commentator Rex Hunt in 1998 Fitzroys agents Chris Kombi and Tom Fisher negotiated the sale which reflected a building rate of more than $10,000 a sq m Kombi said the expressions of interest campaign drew multiple offers “Strata assets are of serious interest to passive investors who are chasing higher yields and low land tax liabilities It’s an ideal set-and-forget investment,” he said The Market Recap newsletter is a wrap of the day’s trading. Get it each weekday afternoon. Residential developer Tim Gurner is moving his firm\\u2019s headquarters into nearly three floors of Alfasi Property\\u2019s new $100 million office project, 10 River, in South Yarra. The move will bring Gurner\\u2019s 150 staff, who work in the company\\u2019s six divisions, including build-to-rent and funds management, into the location on the eastern side of the Como Centre. \\u201CWhen we leased our second office location just two years ago, we never imagined we\\u2019d outgrow it so quickly,\\u201D the chief executive of Gurner\\u2019s operation, Ahmed Fahour, said. \\u201CWe now require a much larger footprint to support these functions and future-proof the growth of our business across the many divisions.\\u201D The 10-level, 7308 sq m office, pitched as a luxury building, was completed in November and is now 75 per cent leased. It promises features including a wellness centre. Gurner has also gone hard on wellness centres at its residential projects. The Saint Haven clubs division has been wildly successful, although the Collingwood club was listed as an alert site for measles exposure last week by the Victorian Health Department. Alfasi bought the 2116 sq m super-site in what was once South Yarra\\u2019s industrial-commercial precinct in 2017, paying $18.5 million. The active developer had originally planned to build a hotel on the site and signed up the Hyatt Centric chain. During the pandemic, Alfasi decided to radically shift the building\\u2019s use to high-end office, Alfasi boss Gill Dvir told Capital Gain. Lemon Baxter agents Josh Tebb and Stephanie McConville and CBRE\\u2019s Josh Jennings and Anthony Park are working on the leasing campaign. \\u201COffice leasing demand has picked up in 2025 and tenants are taking more space,\\u201D Tebb said. Former Carlton footy club president and veteran property play Mark LoGiudice is flipping a Cremorne office he picked up early last year. The two-storey corner office at 104-108 Dover Street is in the heart of the suburb\\u2019s commercial redevelopment precinct. Records show LoGiudice paid $3.24 million last year and then refurbished the 715 sq m building. An owner-occupier is the likely buyer, though the 380 sq m parcel of land on the corner of a laneway could attract someone with an eye on future development. Gorman Commercial\\u2019s Jonathon McCormack, Peter Bremner and Tom Maule are handling the listing, along with Teska Carson\\u2019s Matthew Feld and Luke Bisset. They\\u2019re expecting more than $5 million. Deakin University\\u2019s Battery Research and Innovation Hub in Burwood is for sale at a price less than its very expensive fitout. Deakin has only 18 months left on the lease of the 154 Highbury Road property, but no one is expecting any tenant movements as the specialised fitout cost between $8 million and $10 million. Gross Waddell ICR agents Danny Clark, Michael Gross and Glenn Ye have the listing and are quoting an expected price of more than $6 million. \\u201CThe fitout is more expensive than the building,\\u201D Clark said. Said Gross: \\u201CGiven the capital expenditure, this makes Deakin University a sticky tenant and important for the upcoming lease options.\\u201D The 2318 sq m industrial warehouse-office building is close to Deakin\\u2019s main campus and the proposed Suburban Rail Loop\\u2019s Burwood station. It returns $391,140 a year in rent and last changed hands in 1997 for $2.25 million. It\\u2019s a rare investment offering because owner-occupiers are on the march everywhere else. In East Kew, an owner-occupier bought 714-716 High Street before the building even hit the market. The vacant 902 sq m office fetched $4.35 million in a deal negotiated by Colliers\\u2019 Alex Browne and Matt Knox. \\u201CWe are currently dealing with over 80,000 sq m of active office owner-occupier requirements. Aware of the competition, the buyer acted swiftly to secure the property before it was marketed publicly,\\u201D Browne said. Records show that construction group City Circle paid $4.4 million for the property in 2017 at the peak of the last property cycle. It\\u2019s on the No. 48 tram line and close to the Eastern Freeway. Former agent-turned investment manager Mark Wizel has put his shingle up on a basement strata space for sale at 415 Bourke Street. Wizel said one of his funds bought the 242 sq m basement at the foot of Rochelle House last year for $1.08 million and is expecting to flip it for $1.5 million to $1.7 million. \\u201CIt\\u2019s between the NAB headquarters and the new CBA headquarters on the other side,\\u201D he said. Despite the listing, he is not expecting to make a comeback as an agent. \\u201CI do think about it often as I miss it a lot. However, on this occasion I am just handling the sale of one of the properties we own in the fund,\\u201D he said. In the legal precinct, retired criminal lawyer Bernie \\u201Cthe attorney\\u201D Balmer, is selling his penthouse office in the Forecourt Building on Hardware Street. Balmer\\u2019s daughter Anna Balmer and Sally Vardy have taken over Balmer & Associates, a practice he established in 1984, and moved to 518 Little Bourke Street. The 222 sq m level-four office at 116-112 Hardware Street is at the quieter west end of the popular hospitality strip. Records show Balmer paid $605,000 for the office in September 2005. It\\u2019s expected to fetch more than $1.5 million. Cushman & Wakefield agents Anthony Kirwan and Jack Cooper are handling the sales campaign. Also in the legal district, Vinci Carbone are selling a vacant basement and 313 sq m ground floor office at 262 Queen Street. The 286 sq m basement of the five-level building is used as a car park with room for seven cars. The property is pitched at an owner-occupier, probably in the legal profession, Joseph Carbone said. It\\u2019s expected to sell in the mid-to-high $2 million range. Owner-occupiers are the keenest buyers of office space right now, especially with interest rates tipped to fall during the year. An insurance company has spent $3 million on level eight of 171 La Trobe Street, a tower on the corner of Russell Street designed by Nonda Katsilidis in the early 1990s. Cushman & Wakefield\\u2019s Kirwan and George Davies sold the 434 sq m office. A local investor has snapped up one of the city\\u2019s best known chippies, D\\u2019Lish Fish, paying $2,755,000 for the Port Melbourne shop. The multiple award-winning D\\u2019Lish Fish, which overlooks Station Pier and Port Melbourne beach, was established by former VFL/AFL footballer and commentator Rex Hunt in 1998. Fitzroys agents Chris Kombi and Tom Fisher negotiated the sale, which reflected a building rate of more than $10,000 a sq m. Kombi said the expressions of interest campaign drew multiple offers. \\u201CStrata assets are of serious interest to passive investors who are chasing higher yields and low land tax liabilities. It\\u2019s an ideal set-and-forget investment,\\u201D he said. The Market Recap newsletter is a wrap of the day\\u2019s trading. . Share via...Gift this articleSubscribe to gift this article Gift 5 articles to anyone you choose each month when you subscribe The luxury South Yarra home of former NAB chief information officer Ian Crouch and his wife Paula has hit Melbourne’s prestige market with an asking price of between $11.5 million and $12.65 million after the couple relocated to New York to run their automation company Reveal Group Property documents show the couple purchased the five-bedroom abode opposite the Melbourne Botanic Gardens for $7.6 million in 2013 after selling their neo-Georgian mansion on St Georges Road in nearby Toorak SaveLog in or Subscribe to save articleShareCopy link Gift 5 articles to anyone you choose each month when you subscribe. Follow the topics, people and companies that matter to you. Read MoreLuxury propertySalesLatest In ResidentialFetching latest articles Alfasi Group has secured four tenants to a South Yarra office completed in December on a site for years owner-occupied by revered late caterer Gurner Group is taking the biggest space for its headquarters – 2000 square metres – levels three and seven and part of the second floor It will relocate from 168 Williams Road in neighbouring Prahran will be the company’s second Melbourne office since establishing in 2013 Three years ago we reported the group leased a 380 sqm headquarters in Sydney’s inner east Paddington an office owned and formerly occupied by PR executive Roxy Jacenko HR Legal has also committed to the sixth floor of 10 River St The law firm which focuses only on workplace relations and safely law quit 32 Garden St in the suburb – a site opposite the Jam Factory a major redevelopment of which has just started Gurner forms part of a partnership delivering that project HR Legal also has a New South Wales office John Cornish’s development company Cornish Group has also committed to 10 River St – the eighth floor It will join AutoGrab which has leased the fourth storey Alfasi outlaid $18.5m in 2017 for the 2143 square metre Commercial 2 zoned block which made way for the office In 2020, it won permission via the Victorian Civil and Administrative Tribunal to replace it with a nine storey During COVID the developer repurposed the proposal for an office end of trip facilities and a wellness area CBRE’s Anthony Park and Joshua Jennings with Lemon Baxter’s Josh Tebb and Stephanie McConville are the leasing agents is about four kilometres from Melbourne’s CBD Also this week we reported two high profile brands will relocate Melbourne CBD headquarters to a Premium grade tower owned by GPT Subscribe to our newsletter at the bottom of this page A former property analyst and print journalist Marc is the publisher of realestatesource.com.au Forgot your password? You will receive mail with link to set new password Back to login The Market Recap newsletter is a wrap of the day’s trading. Get it each weekday afternoon Residential developer Tim Gurner is moving his firm\\u2019s headquarters into nearly three floors of Alfasi Property\\u2019s new $100 million office project The move will bring Gurner\\u2019s 150 staff who work in the company\\u2019s six divisions \\u201CWhen we leased our second office location just two years ago we never imagined we\\u2019d outgrow it so quickly,\\u201D the chief executive of Gurner\\u2019s operation Alfasi bought the 2116 sq m super-site in what was once South Yarra\\u2019s industrial-commercial precinct in 2017 Alfasi decided to radically shift the building\\u2019s use to high-end office Lemon Baxter agents Josh Tebb and Stephanie McConville and CBRE\\u2019s Josh Jennings and Anthony Park are working on the leasing campaign \\u201COffice leasing demand has picked up in 2025 and tenants are taking more space,\\u201D Tebb said The two-storey corner office at 104-108 Dover Street is in the heart of the suburb\\u2019s commercial redevelopment precinct Gorman Commercial\\u2019s Jonathon McCormack along with Teska Carson\\u2019s Matthew Feld and Luke Bisset They\\u2019re expecting more than $5 million Deakin University\\u2019s Battery Research and Innovation Hub in Burwood is for sale at a price less than its very expensive fitout \\u201CThe fitout is more expensive than the building,\\u201D Clark said Said Gross: \\u201CGiven the capital expenditure this makes Deakin University a sticky tenant and important for the upcoming lease options.\\u201D The 2318 sq m industrial warehouse-office building is close to Deakin\\u2019s main campus and the proposed Suburban Rail Loop\\u2019s Burwood station It\\u2019s a rare investment offering because owner-occupiers are on the march everywhere else The vacant 902 sq m office fetched $4.35 million in a deal negotiated by Colliers\\u2019 Alex Browne and Matt Knox \\u201CWe are currently dealing with over 80,000 sq m of active office owner-occupier requirements the buyer acted swiftly to secure the property before it was marketed publicly,\\u201D Browne said \\u201CIt\\u2019s between the NAB headquarters and the new CBA headquarters on the other side,\\u201D he said \\u201CI do think about it often as I miss it a lot on this occasion I am just handling the sale of one of the properties we own in the fund,\\u201D he said retired criminal lawyer Bernie \\u201Cthe attorney\\u201D Balmer Balmer\\u2019s daughter Anna Balmer and Sally Vardy have taken over Balmer & Associates It\\u2019s expected to fetch more than $1.5 million It\\u2019s expected to sell in the mid-to-high $2 million range Cushman & Wakefield\\u2019s Kirwan and George Davies sold the 434 sq m office A local investor has snapped up one of the city\\u2019s best known chippies The multiple award-winning D\\u2019Lish Fish \\u201CStrata assets are of serious interest to passive investors who are chasing higher yields and low land tax liabilities It\\u2019s an ideal set-and-forget investment,\\u201D he said The Market Recap newsletter is a wrap of the day\\u2019s trading The three-bedroom, two-storey home at 68A Nicholson Street was listed with a quoted price range of $1.85 million to $2 million, has a modern renovation and is located close to Toorak Road’s shops and restaurants. She paid $1.88 million for it in April 2022 Melbourne’s property market peaked in March of that year Jellis Craig Stonnington listing agent Michael Armstrong said the auction had one bidder Private negotiations continued after the property was passed in “We are now dealing with two interested parties and are hoping to tie the sale up soonish,” he said The townhouse passed in after one bid at the bottom of the range The auction was one of 1362 scheduled auctions in Melbourne last week Domain Group recorded a preliminary auction clearance rate of 64.7 per cent from 1033 reported results Withdrawn auctions are counted as unsold properties when calculating the clearance rate An original home in Macleod sold under the hammer for $1,361,000 to a first-home-buying couple on Saturday Outback town Broken Hill has ‘potential’ to be Australia’s version of Las Vegas Rentvesting quickly rising as final option for locked-out property buyers in Sydney and Brisbane The house at 58 Edward Street was listed with a quoted price range of $1.1 million to $1.2 million, and had a reserve of $1.13 million. The three-bedroom property still has its original 1950s features and needed some renovation, but is ready to live in; the large backyard and central location proved to be popular features. 1 Bath3 ParkingView listing “It was incredibly emotional for the family who have owned this home since 1954; the elderly mother has gone into full-time care,” Ray White Macleod listing agent Brett Schembri said. The auction began on a vendor bid of $1.1 million, and the second bid of $1.2 million shot the price well past the reserve. “I think the bidder had hoped it would be a knockout bid but unfortunately for them, it wasn’t, and the auction was pretty aggressive after that,” Schembri said. There were four bidders, two of which were intent on “locking horns and battling it out,” said Schembri. The underbidder was a local family looking for more space, and the successful buyers were a local young couple buying their first home. “The young couple had missed out on a few properties this past year, so they were rapt, and really happy to secure a home in such a good spot.” Schembri said there has been a lack of large, stand-alone houses available in the past 12 months. “There have been plenty of townhouses and units but not these big family homes like this one.” In Seaford, a partially renovated home sold for $782,000, $222,000 more than its reserve. 1 Bath2 ParkingView listing The house at 10 Hummerstone Road is walking distance to the beach but “in need of a new bathroom, laundry, and a paint job,” and drew a crowd of over 150 people and 19 interested parties, O’Brien Real Estate listing agent Mark Burke. “The bidding opened with a bid of $650,000 and the property was on the market straight away. After delivering the killer blow, only eight bidders remained,” he said. The auction was primarily fought out between investors and first home buyers, and eventually sold to a Sydney investor who is looking to renovate. “Sydney investors still see the Melbourne market as cheap with a lot of potential for growth and take much more risk than local investors,” Burke said. Burke said he noticed a change in the market over the past eight weeks. “As soon as there was talk of a possible interest rate cut, it was enough to make people very excited,” he said. Chief economist from AMP, Shane Oliver, agreed that talk of interest rate cuts created a “boost” to the market. However, given the upcoming election generating uncertainty and ongoing mortgage stress, the market won’t drastically change soon, he said. “We are seeing the very early stages of a recovery, but it will be a while to go yet,” Oliver said. The information on this website is intended to be of a general nature only and doesn't consider your objectives, financial situation or needs. where we are privileged to live and operate This is probably not the page you’re looking for IT SEEMS THE PAGE YOU'RE LOOKING FOR HAS GONE ASTRAY GO BACK TO THE HOME PAGE Both a rooftop pool and 12-car garage feature at 28 Marne St A swanky South Yarra house formerly listed for sale at $40m-$43m has had a multimillion-dollar cut to its asking range The five-bedroom pad featuring a 12-car garage rooftop pool and an entire level devoted to wellness and leisure has had its price expectations lowered to $35m-$38m – a $5m reduction on the original guide The impressive home belongs to arts patron Jennifer Shaw whose family owned a Bourke St building that housed the Kozminsky jewellers store RELATED: Legal bigwig, top earner Gavin MacLaren puts South Yarra mansion up for sale Buyers snap up $1.205m South Yarra Victorian-era home South Yarra: Marketing mogul puts ‘street secret’ house up for sale with $8.8m price guide Public records show that South Yarra’s $36m record house price was set by a four-bedroom abode at 44-48 Marne St Ms Shaw’s house was redesigned by Melbourne architects Powell & Glenn last year A lift connects its five storeys including the rooftop with a swimming pool An aerial view of the rooftop pool and garden Go from the 12-car garage to the home theatre in just a few steps as well as Domain and Toorak Rds’ cafes and retail offerings the MCG and the National Gallery of Victoria kitchen and dining areas connects to the garden via retractable glazing that opens to a covered terrace outdoor kitchen and wood-burning fireplace The main kitchen is equipped with Miele and Gaggenau appliances Gold and black tones make a stylish statement in the bar an integrated Liebherr refrigeration and Gaggenau appliances in the kitchen The home is set on an 887sq m block of land A curved staircase leads upstairs to a level that features a double dressing room and an ensuite fitted with Italian marble There’s also a self-contained guest bedroom with an ensuite and a living room with a sunken terrace Marshall White Stonnington director Marcus Chiminello has the listing Sign up to the Herald Sun Weekly Real Estate Update. Click here to get the latest Victorian property market news delivered direct to your inbox MORE: St Kilda studio-home where Kath & Kim was cut is for sale with $8m price hopes Camberwell Junction: Former bank, now home to Meat & Wine Co steakhouse, for sale Mulgrave: House that Liam Neeson helped to promote in Taken-esque clip sells third parties have written and supplied the content and we are not responsible for it completeness or reliability of the information nor do we accept any liability or responsibility arising in any way from omissions or errors contained in the content We do not recommend sponsored lenders or loan products and we cannot introduce you to sponsored lenders We strongly recommend that you obtain independent advice before you act on the content realestate.com.au is owned and operated by ASX-listed REA Group Ltd (REA:ASX) © REA Group Ltd. By accessing or using our platform, you agree to our Terms of Use. The contemporary home on Marne Street in the sought-after Domain precinct sits behind a 1930s facade and has had an overhaul designed by architects Powell & Glenn. Shaw is an arts patron whose donations support the National Gallery of Victoria, the McClelland Gallery, the Melbourne Museum and the Royal Botanic Gardens. The Shaw family were the long-term owners of a historic CBD building on Bourke Street leased to jewellers Kozminsky, sold after the store closed in 2017 for $7.6 million to the Giannarelli stonemason family. Jennifer Shaw had been working for Kozminsky jewellers in 1976 when the company needed to find a new location. She mentioned it to her parents, and her mother noted that 421 Bourke Street was coming up for sale. “We went to the [Kozminsky] directors and offered them the opportunity. My mother said if she bought the building at auction and did it up the way they wanted ‘would they be interested in becoming tenants?’. They jumped at that with both arms,” Shaw told The Australian Financial Review after the auction in 2017. Shaw lived in one of the apartments in Marne Street but decided to develop the two units into one stylish house, now on offer to the market. The price of property in Australia’s most isolated towns Meet the parents giving their kids enough money to buy a home Melbourne one of Australia’s easiest capital cities to purchase property in as a first-time home buyer The five-bedroom, six-bathroom home is set on 887 square metres and spans five levels with a lift. It features a striking rooftop terrace with a swimming pool and city views. The kitchen has integrated Liebherr refrigeration, Miele and Gaggenau appliances and Calacatta marble, while there’s a bar and plenty of indoor/outdoor living space plus a north-facing garden. Other features include a gym, wine cellar, sauna, steam room, home theatre and garaging for 12 cars. Expressions of interest close March 24. 3 Baths2 ParkingView listing Elsewhere, celebrity landscape architect Jack Merlo has listed his Toorak home with price hopes of $16 million to $17 million, after paying $13,610,500 for the residence in late 2021. The four-bedroom home set on 1330 square metres comes with a tennis court and swimming pool – plus manicured, if compact, greenery. It is also listed through Chiminello who would not comment on the buyer. Merlo is upgrading after earlier this year buying the Myer family’s Grant Avenue home, according to a source with knowledge of the deal who did not wish to be identified, which had been listed with a guide of $20 million to $22 million. The Myer home is not far from another home being sold by the same family, Cranlana, which is still available for between $96 million and $105 million. 6 Baths8 ParkingView listing In a flurry of top-end activity, Chiminello has also listed a grand home on Kooyong Road Toorak, asking $38 million to $41 million. Although the agent was again tight-lipped on the owner’s identity, public records list the owner as Jessica Jie Yu and reveal the 2085-square-metre block last traded for $8.65 million, but the house has since been rebuilt into a Christopher Doyle-designed mansion with six bedrooms and an eight car garage. Amenities include a tennis court, heated pool, theatre room, marble bar, two Calacatta marble kitchens with Gaggenau appliances, outdoor dining and a home office. And the same agent listed another Christopher Doyle special on Montrose Court with a guide of $28 million to $30 million, being sold by the founding family of listed aged care company Regis Healthcare. 5 Baths6 ParkingView listing The Dorman family also have a private investment office and a family foundation, established by Bryan and Christine Dorman and now supported by sons Nicholas and Andrew. Public records show the Toorak home is a deceased estate that was in Christine’s name, and the executors are Andrew and Nicholas. Bryan was co-founder of Regis with Ian Roberts. Chiminello was tight-lipped on the home’s ownership. The stately four-bedroom home features oak flooring, a marble kitchen with a butler’s pantry, a swimming pool and spa, outdoor entertaining with barbecue, wine cellar and a grand study. Chiminello was upbeat about the outlook for Melbourne’s top-end market. “There has been already some great signs of activity and I am confident we are going to see a lot of success in the first quarter,” he said. He thought the interest rate cut would boost confidence, even though many buyers and sellers at this level are less reliant on finance. “It just gives a sense of the likely trajectory of the cost of money and that breeds confidence in the buying market. It eventually has an overall effect on property, whether it is a $500,000 unit or a $50 million home.” It follows logistics boss Paul Little’s recent sale of his Toorak house that reset the Victorian record, for a price tipped to be in the ballpark of $135 million. Eyeballing Prahran directly across Commercial Road the market reflects broader South Yarra with a quorum of stalls sitting at the intersection of living and lifestyle – look no further than the toe-curlingly good toasties at cheesemonger Maker & Monger which are a Rorschach blot in food form: an occasional treat for some and a non-negotiable every week for others which famously refuses to serve skim or soy milk with its single-origin brews a fourth-generation business with an impressive range of free-range Nor is a trip to the market complete for many denizens of postcode 3141 without a visit to the “Mushroom Man”: Damien Pike the area’s go-to guy for all kinds of common and exotic fungi as well as its seasonal truffle needs as John Narduzzo of Pino’s Fine Produce points out and it’s a must-see for visitors – we get swamped during the grand prix weekend – but all sorts of people come here Pino’s remains the quintessential greengrocer where strings of garlic and artichokes attract snap-happy tourists and where Narduzzo yells himself hoarse spruiking their $35 fruit and veggie boxes every market day and we’re still holding onto the old-fashioned way of serving people in person.” Browse Domain’s property and lifestyle magazines The national food rescue charity Second Bite was born in 2005 after founders Ian and Simone Carson saw produce being thrown out at the end of a market day “All our leftovers go to Second Bite,” says Narduzzo with Nicole Gleeson from Kay & Burton  Kensington: This Melbourne suburb evokes the charm of its famous London counterpart Southbank: The heart of Melbourne’s cultural precinct, Camberwell: Hiring a stall at this suburb’s Sunday market is no mean feat After selling a penthouse on Millswyn Street recently, I can say my dream address is there! I also love Avoca Street; I think I’ve sold half the street in 25 years.  Blakeaway on Avoca Street because it’s so easy to grab and go when I’m on the run, and they do the best almond latte. I also find their superfood cups and chicken wraps to be so healthy and convenient.  The Gilson chicken salad is my favourite – it’s made with wombok, avocado, and other things, and it’s super tasty and light. Gilson is on Domain Road just opposite the Botanic Gardens, so it’s in a great little spot, too.  1 Bath1 ParkingView listing A stone’s throw from Toorak Village, this neat two-bedroom apartment is on the ground floor at the quiet and leafy rear of the block, with both bedrooms and a balcony off the living area enjoying a garden aspect. The tram is just outside to take you to the nightlife of Chapel Street or into the city.  Frasers Property Industrial has today announced our first capital partnership in Australia with an investment vehicle sponsored by Morgan Stanley Real Estate Investing (“MSREI”).  Jess Freeman • 05/05/2025 A prominent hotel development site in the heart of Randwick is set to hit the market offering a rare opportunity to capitalise on a DA-approved project in one of Sydney’s most tightly held Eastern Suburbs pockets Victoria’s dairy regions are facing growing challenges in accessing housing affecting workforce attraction and retention and threatening the long-term sustainability of the state’s $3 billion dairy industry Jess Freeman • 28/04/2025 Inside the homes and beauty cabinets of inspiring and influential people Educate your beauty routine with expert tips Our directory of Australia’s best beauty and wellness destinations Tucked above the buzz of South Yarra’s Toorak Road sits one of Melbourne’s most quietly iconic skin clinics: Me Skin & Body Brooke’s philosophy is all about marrying serious skin science with a nurturing intuitive touch—and that’s exactly what I experienced during my visit I was lucky enough to be booked in with co-owner Rachael whose magic hands gave me one of the most memorable facials I’ve had in a long time The Facial: Synergie Skindulgence in Expert Hands I’d just interviewed Synergie founder Terri Vinson the day before for the podcast so it felt serendipitous to experience the products in a treatment setting so soon after The facial began with a double cleanse and a Synergie lactic acid peel to gently exfoliate, followed by sonophoresis infusion with the brand’s B serum and Hylavive for deep I’ve always believed that the difference between a good facial and a great one lies in the hands and worked lymphatic pathways in a way that lifted What Is Buccal Massage — And Why You Need It Then came the pièce de résistance: buccal massage it’s where the therapist uses gloved hands inside your mouth to massage your jaw and cheeks But it’s unbelievably effective for releasing tension and lifting the face When Rachael removed her hands 10 minutes later I felt a wave of release—it was as if my jaw had unclenched for the first time in months luxurious session of acupressure facial massage my skin was noticeably brighter and plumper—and I felt lighter and more than a little bit glowy from the inside out I was so impressed with how much clinical know-how Rachael brought to the treatment but also how nurturing the whole experience was That’s the magic of Me Skin & Body: they’re able to deliver real skin-changing results and hold space for your nervous system to rest and reset What Else Is On Offer at Me Skin & Body Next time, I’m planning to try some of their more intensive tech offerings: the Cutera Excel V (which uses Laser Genesis to target fine lines, redness and pore size) and the Lutronic LaseMD Ultra (a fractional laser that combines resurfacing with deep hydration) and custom treatments tailored to your specific skin goals In a world of rushed appointments and tech-first facials, Me Skin & Body is a rare find It delivers real results and holds space for deep rest — something both your face and your nervous system will thank you for If you’re in Melbourne and craving that elusive balance of skin transformation and total relaxation — you know where to book Go-Tos Δdocument.getElementById( "ak_js_1" ).setAttribute( "value" In South Australia, in South Yarra, Pandolfini Architects are the authors of the South Yarra House A building that seen from the outside is perceived as impenetrable but once inside the plot seems to be suspended over the garden the large linear window makes the interior and exterior merge into one the house is designed so that every corner arouses the curiosity of the user contrasts between materials and rooms vary depending on the light that bathes them during the day The project by Pandolfini Architects has four levels that are connected by different staircases The exterior rooms dilute their boundaries through the windows the plants act as an active part of the conversation between materials and scales to the warmth of American oak wood and Venetian plaster coexisting with the brightness of aged brass and marble the materials share the limelight while generating a pleasant play of light and shadow that extends throughout the home South Yarra House by Pandolfini Architects Project description by Pandolfini Architects its robust materiality provides a protective shield for the inhabitants and a vessel for the sculptural forms and delicate materiality within is shaped by the sense of compression and expansion Passing under the concrete façade which appears to float over the front garden and a delicate ribbon of patterned glass the double height foyer space is revealed a spiral staircase and the curved form of the main living space protruding into the space as an abstract a juxtaposition of materials unfolds; the raw concrete façade aged brass details and polished venetian plaster with curvaceous ceiling junctions The contradiction of soft materiality balances the predominant raw and robust material palette enhancing and complimenting the interplay of light and dark throughout the home A large terrace and swimming pool extends from the main living area over lush garden arrangements on the ground plane creating a unified dialogue between architecture and landscape The curated planting moments soften the bold materiality and scale of the built form whilst the selection of eccentric planting adds to the spectacle of the architecture Designing the home with the notion of curiosity and discovery eclectic materials and intricately detailed sculptural elements create a series of experiential discoveries that fill the home with constant encounters of rooms and spaces which were initially imperceptible These gestures facilitate a dynamic refuge for the inhabitants Pandolfini Architects Interior Design.- Pandolfini Architects.Furniture Objects & Styling.- Simone Haag.Builder.- DOME.Landscape Architecture.- Myles Baldwin Design.Engineering.- SDA Structures Coloured Terrazzo EM-1087.- Signorino.Barazza Made to Measure Stainless Steel.- Abey.W40 Fixed Window.- Metro Steel Windows.Statuarietto XL.- Signorino Rory Gardiner, Lillie Thompson Archive Architecture Barty’s non-descript townhouse in South Yarra is secure and comes with off-street parking Aussie tennis champ Ash Barty and her husband Gary Kissick are selling the South Yarra home they’ve been using as a Melbourne base since 2022 Barty is one of Australia’s most successful tennis players this century winning 15 singles titles in her career including the Australian Open in 2022 Wimbledon in 2021 and the French Open in 2019 She also won the US Open women’s doubles alongside Coco Vandewegh in 2018 one of 12 titles she claimed with a partner RELATED: Ash Barty, Andrew IIie coach Craig Tyzzer and wife Sue’s house is one to love Elsternwick: Tennis court block served up with multimillion-dollar asking range Ash Barty’s blunt confession on having a toddler Barty also spent a season playing Big Bash League cricket with the Brisbane Heat she announced her retirement from tennis at the age of 25 in 2022 the sporting legend and her husband quietly bought a three-bedroom South Yarra townhouse they have since renovated The 68A Nicholson St property has subsequently been a base for them while in Melbourne including for Kissick while he plays golfing tournaments and caddies for Louis Dobbelaar Gary Kissick and Ash Barty with son Hayden enjoying the day at Palm Beach on the Gold Coast Inside the South Yarra home the sporting family have used as a Melbourne bolthole But after a Christmas announcement that the couple are expecting their second child Jellis Craig’s Nathan Waterson is handling the listing and said they were hoping for an “ace” result with a $1.85m-$2m asking price ahead of an auction slated for March 1 Mr Waterson said the pair had certainly added value since buying the home with updates to the home’s kitchen and two bathrooms They have also refurbished the double-storey residences staircase and redone its floors Barty and Kissick have renovated the home’s kitchen The pair have also had the South Yarra’ residence’s bathrooms updated The agent added that with the home zoned for popular South Yarra Primary School and close to an array of private schools he was expecting young professionals to find plenty to love about the home “The other important qualities are the home’s great natural light and it is also very secure with off-street parking which is a rarity in that area,” Mr Waterson said Barty’s coach Craig Tyzzer sold his long-time family home in Mt Waverley for $2.258m Floorboards and even the home’s staircase have been renewed by the sporting power couple Ash Barty practising under the watchful eye of coach Craig Tyzzer (right) and partner Gary Kissick (left) Tyzzer was ranked the Women’s Tennis Association’s coach of the year in 2019 for his work with Barty which commenced in 2016 and continued until her retirement Tyzzer revealed he’d made a lolly bowl out of a Tiffany trophy awarded to himself and Pat Cash for their efforts coaching Barty and Coco Vandewegh to victory in the 2018 US Open women’s doubles Sign up to the Herald Sun Weekly Real Estate Update. Click here to get the latest Victorian property market news delivered direct to your inbox MORE: French chateau or Euro island? What typical Melb home price will get you overseas Big bank puts in double rate cut ahead of Reserve Bank move $500,000 house build price record set in 2024 as housing approvals 70,000 fall short of goal Victorian charm meets modern potential — this South Yarra home offers its new owners a rare chance to restore a freestanding classic in one of Melbourne’s most sought-after locations A South Yarra home has sold for $1.205m under the hammer with two determined bidders going head-to-head to secure a freestanding Victorian style home in the suburb’s tightly held golden triangle drawing strong interest before the price pushed past the home’s $1.1m-$1.2m price guide Whitefox Classic’s Michael Torcasio said the home’s prime position and renovation potential made it a standout RELATED: Melbourne’s smelliest suburbs — how odour impacts home prices Bidding wars erupt as competition surges at Melb auctions Toorak home of late music exec listed for surprise price “This one had all the right ingredients,” Mr Torcasio said “Freestanding homes in this pocket are hard to come by Mr Torcasio said bidding came down to just two parties with competition intensifying as the price edged upwards over 16 bids A centrepiece of history — the home’s original fireplace sits on a solid concrete foundation one of many heritage details the new owners plan to preserve while modernising the space Dated but full of potential — the existing kitchen is functional but will soon make way for a sleek contemporary redesign tailored to modern living The home’s heritage character and 172sq m block opposite the historic Braille Library Hall attracted buyers looking for a classic Victorian era home with scope to restore or rebuild A fresh start — the new owners envision a reconfigured layout with a brand-new kitchen flowing into an open-plan living space Mr Torcasio said location played a major role in the result “South Yarra is the ultimate lifestyle suburb,” he said and Fawkner Park all within walking distance buyers know properties like this don’t come up often.” Ready for an upgrade — the home’s single bathroom will be completely redesigned as part of the renovation MORE: Sight unseen: Sydney buyers outmuscling locals in Melb’s west Ex-Presentation College site for sale after 2019 closure First homebuyers stuns investors in wild Frankston auction Luxury Melbourne developer Soliana™ has paid $5.85 million for a premium South Yarra site with approved plans for a luxury apartment development There had been plans for six large-scale apartments at 39 Darling Street near the Yarra River and just off Domain Road the five-level development had been designed by Selwyn Blackstone and had been marketed before Soliana bought the site Its elevated position offers views over South Yarra, with proximity to the Royal Botanic Gardens, Fawkner Park The site currently houses a three-level apartment complex with 10 studio apartments It was sold by a local syndicate through an expressions of interest campaign The deal reflects a land rate of $8,705 per square metre and a unit rate of $975,000, underscoring the strength of Melbourne’s premium residential market Hamish Burgess, Joe Kairouz, and Jeffery Ha of Cushman & Wakefield handled the transaction. Burgess said the sale highlighted the fierce competition among developers to secure opportunities in South Yarra and surrounding Stonnington suburbs “The Stonnington development site market has been hotly sought after throughout 2024," Burgess said "Developers are competing to enter a precinct that continues to re-rate the market in terms of achievable residential revenues The sale adds to Soliana™’s growing portfolio of high-end residential and commercial projects Pearl Brighton which will compete in the coming months and another one on Martin Street which will launch later this year We're on a mission to radically improve the quality of Urban communities being developed across Australia We aim to showcase every development in Australia to help you find the perfect new home BMW celebrates top-selling premium brand with awards for Australia and NZ dealers BMW Group has awarded nine Australian BMW dealers and eight Mini dealers at its annual Dealer of the Year celebrations at a ceremony in Sydney The awards recognise outstanding performance in 2024 with Major Metro dealer of the year going to South Yarra BMW in Victoria while Provincial DOTY was won by Worthington BMW in New South Wales and Rural DOTY went to Townsville BMW in Queensland Melbourne BMW (VIC) took out the Customer Excellence Award Sylvania BMW (NSW) was honoured for Digital Transformation and Essendon BMW (VIC) got the Sustainability gong Winners in the Dealer of the Year awards for Mini were North Shore Mini Garage (NSW) for the Major Metro excellence award; Coastline Mini Garage (QLD) for Metro excellence award; Berwick Mini Garage (VIC) for the Provincial excellence award; and Townsville Mini Garage (QLD) for the Rural excellence award North Shore Mini Garage dealer principal and director Christopher Randall (left) with Mini Australia and NZ general manager Alexander Brockhoff At a specific event in Auckland for dealers across the Ditch Christchurch BMW was named BMW Dealer of the Year for New Zealand with Mini Dealer of the Year for New Zealand going to Christchurch Mini Garage Part of the Sydney celebration was BMW’s position as best-selling premium automotive brand in Australia for the second consecutive year which the company said underscored the commitment of BMW’s retail partners to deliver world-class customer service “Their dedication has been instrumental in driving BMW’s continued success in the highly competitive automotive market,” it said Christchurch Mini Garage team with Mini GM Australia and NZ Alexander Brockhoff (second right) “A key contributor to this success has been the rapid adoption of BMW’s 16 fully-electric models – the most offered by any other car manufacturer in the country electric vehicles accounted for 30 per cent of BMW Australia’s total sales – one of the highest sales shares in the world for BMW.” The event was attended by BMW Group senior vice-president of sales region Asia-Pacific Middle East and Africa Jean-Philippe Parain BMW Group Australia CEO Wolfgang Buechel praised the dealer network’s contributions “Our independently owned dealers have once again demonstrated their commitment to excellence playing a pivotal role in BMW maintaining its leadership position,” Mr Buechel said particularly in driving electric vehicle adoption reinforce our shared vision for sustainable mobility and the future of premium driving We extend our deepest gratitude to each dealership and their staff for their dedication and exceptional performance.” The Mini brand also celebrated a number of successes last year undergoing its most extensive transformation in its 66-year history with a completely new product portfolio focused on innovative design Details of the 2024 Dealer of the Year categories and winners are: Centenary awards include three dealers with 100 years of continuous Ford partnership Fifth consecutive win for Volvo Cars South Yarra in 2024 awards Carbar BD specialist join S&P Global Mobility GO BACK TO THE HOME PAGE. but we 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apartments which has been approved for a six-apartment development.\u003c/p\u003e\u003cp\u003eThe transaction reflects a land rate of $8705 per square metre and a unit rate of $975,000.\u003c/p\u003e\u003cp\u003eCushman and Wakefield director of development sites Hamish Burgess who handled the transaction with colleagues Joe Kairouz and Jeff Ha said the sale highlighted the competition among developers in the precinct.\u003c/p\u003e\u003cp\u003e“The Stonnington development site market has been hotly sought after throughout 2024 Developers are competing to enter a precinct that continues to re-rate the market in terms of achievable residential revenues,” Burgess said.\u003c/p\u003e\u003cp\u003eThe site is near the Royal Botanic Gardens the Yarra River and Chapel Street.\u003c/p\u003e\u003cp\u003eAccording to Ha the property attracted significant interest including potential purchasers considering alternative uses.\u003c/p\u003e\u003cp\u003e“While a developer was the successful purchaser accordng to agents.\u003cbr\u003e\u003cbr\u003e\u003c/span\u003e\u003c/div\u003e\u003c/div\u003e\u003cp\u003eThe transaction reinforces South Yarra’s position as a premier location for top-end residential development.\u003c/p\u003e\u003cp\u003eMeanwhile Como Terraces is nearing completion at the Como Hill precinct.\u003c/p\u003e\u003cp\u003eUnder construction on a site at 139 Alexandra Avenue Como Terraces is a joint venture between Sterling Global and Cbus Property.\u003c/p\u003e\u003cp\u003eThe project comprises 39 residences across eight low-rise buildings on the 7900sq m site.\u003c/p\u003e\u003cp\u003e“With interior finishes now under way 34 three bedroom and a single four-bedroom home designed by Melbourne-based studio Carr.\u003c/p\u003e\u003cp\u003eThe project includes such high-end amenities as a formal entry with concierge and waiting lobby and basement parking providing direct access to all residences.\u003c/p\u003e\u003cp\u003eA central landscaped staircase described as reminiscent of Rome’s Spanish Steps connects the apartment buildings and extends to the entrance lobby.\u003c/p\u003e\u003cp\u003eThe development which also includes three basement levels with 101 car spaces Lendlease’s third residential building in the Collins Wharf precinct of Victoria Harbour.\u003c/p\u003e\u003cp\u003eThe 28-storey building at 971 Collins Street in Melbourne’s Docklands will deliver 312 homes in a mix of one two and three-bedroom apartments as well as townhouses and penthouses.\u003c/p\u003e\u003cp\u003eAccording to Lendlease the project has already secured more than 50 per cent in presales.\u003c/p\u003e\u003cp\u003eHickory is the construction contractor—it completed the precinct’s first development in 2019 and is also working on LendLease’s second tower Regatta.\u003c/p\u003e\u003cp\u003eFor Ancora Hickory is implementing several technical construction methods including various piling techniques and precast concrete solutions that enable a parallel-track construction program.\u003c/p\u003e\u003cp\u003eThe building’s facade designed by architect Warren and Mahoney uses a three-stage design incorporating double-glazed glass and textured precast concrete with Reckli and brick finishes.\u003c/p\u003e\u003cp\u003eThe structural design transitions from a solid podium base to lighter upper levels “reflecting a maritime theme” aligned with the Collins Wharf design objectives.\u003c/p\u003e\u003cp\u003eAncora will connect to the neighbouring Regatta development via a podium allowing resident access to shared amenities.\u003c/p\u003e\u003cp\u003eDesigned as an all-electric building that includes electric vehicle infrastructure the development is targeting a 5 Star Green Star certification Completion is expected in 2027.\u003c/p\u003e\u003cp\u003eRegatta including build-to-rent and build-to-sell units.\u003cbr\u003e\u003cbr\u003e\u003c/span\u003e\u003c/div\u003e\u003c/div\u003e\u003cp\u003eExtensive wharf works including remediation of pre-existing wharf piles installation of raker piles and construction of the extension to Australia Walk are also part of the project.\u003c/p\u003e\u003cp\u003eTechnical challenges include constructing on the finger wharf and co-ordinating extensive above-wharf road reserve and public parkland works.\u003c/p\u003e\u003cp\u003eThe Collins Wharf precinct will ultimately comprise six residential buildings of more than 1800 homes surrounded by over 5000sq m of parks and community space.\u003c/p\u003e\u003cp\u003eLendlease is developing the parkland concurrently with the residential components including the extension of Australian Walk that forms part of the City of Melbourne’s Greenline project.\u003c/p\u003e\u003cp\u003eLendlease executive director of development Adam Williams said Collins Wharf “is fast becoming a sought-after address .. which took just a handful of hours to emerge on Saturday night the Coalition’s failure to sway voters has come under intense scrutiny.\u003c/p\u003e\u003cp\u003eIts lack of policies around property that resonated with voters has been a large part of that criticism.\u003c/p\u003e\u003cp\u003eAmong those policies was a $5-billion infrastructure program to unlock up to 500,000 new homes was greeted with no small amount of scepticism.\u003c/p\u003e\u003cp\u003eThe Coalition also campaigned on its previously revealed plan to allow first home buyers to draw down on their superannuation giving access to up to $50,000 to help fund mortgage deposits.\u003c/p\u003e\u003cp\u003eWhile that proposal had won some support it got the thumbs down from many of Australia’s top economists who said the measure could prove highly inflationary among other issues.\u003c/p\u003e\u003cp\u003eSimilarly its plan to allow mortgage interest for first home buyers to be tax-deductible was roundly criticised for its likely inflationary and regressive effects.\u003c/p\u003e\u003cp\u003eIt has also been pointed out that the Coalition’s rejection of the Green’s policies around housing supply affordable housing and help for renters did it no favours.\u003c/p\u003e\u003cp\u003eThe ALP went to the polls spruiking an extension of schemes introduced during its previous term including a $10-billion promise for its first-home buyers’ scheme to encourage 100,000 more homes.\u0026nbsp;\u003c/p\u003e\u003cp\u003eIt also had its Help to Buy shared equity scheme under which the Government pays up to 40 per cent of the house price to point to.\u003c/p\u003e\u003cp\u003eIf it was these policies per se or the lack of detail and depth to the Coalition’s the nation's ready for the Albanese government to act.\u003cbr\u003e\u003cbr\u003e\u003c/span\u003e\u003c/div\u003e\u003c/div\u003e\u003cp\u003eWhat is clear been endorsed to follow through on its policies and fix the crisis that is crippling the Australian property sector.\u003c/p\u003e\u003cp\u003eAs Urban Taskforce Australia chief executive\u0026nbsp;Tom\u0026nbsp;Forrest has pointed out it is time for the Federal Government to get back to work.\u003c/p\u003e\u003cp\u003e“Housing affordability and housing supply featured large during the campaign,” Forrest said.\u003c/p\u003e\u003cp\u003e“The key now is for the Government to strike while the iron’s hot.\u0026nbsp;\u003c/p\u003e\u003cp\u003e“If legislation is needed to support the delivery of Labor’s $10-billion 100,000 new homes commitment—then pass it through the parliament now and get on with it.”\u003c/p\u003e\u003cp\u003eThe states have made many changes to how they enable home development The Federal Government’s support of that is crucial to its success material supply assistance or any other factor that affects getting homes out of the ground.\u003c/p\u003e\u003cp\u003eThis has been a pivotal election Then Cities for Total Fan Immersion\",\"slug\":\"billionaire-arsenal-rams-denver-nuggets-sports-anchored-precincts\",\"datePublished\":\"2025-04-30T00:00+10:00\",\"tags\":[],\"summary\":\"Why your next home might be stadium-adjacent; sports are the hook currently home to a three-level complex of 10 studio apartments which has been approved for a six-apartment development The transaction reflects a land rate of $8705 per square metre and a unit rate of $975,000 Cushman and Wakefield director of development sites Hamish Burgess said the sale highlighted the competition among developers in the precinct “The Stonnington development site market has been hotly sought after throughout 2024 Developers are competing to enter a precinct that continues to re-rate the market in terms of achievable residential revenues,” Burgess said The site is near the Royal Botanic Gardens including potential purchasers considering alternative uses “While a developer was the successful purchaser we also experienced significant enquiry from our Asia markets client base looking to reposition the existing block of units,” Ha said The transaction reinforces South Yarra’s position as a premier location for top-end residential development Como Terraces is nearing completion at the Como Hill precinct Under construction on a site at 139 Alexandra Avenue Como Terraces is a joint venture between Sterling Global and Cbus Property comprises 39 residences across eight low-rise buildings on the 7900sq m site [we] are almost ready to welcome residents,” Sterling Global said in a statement The apartments are in a mix of four two bedroom The project includes such high-end amenities as a formal entry with concierge and waiting lobby and basement parking providing direct access to all residences connects the apartment buildings and extends to the entrance lobby is being delivered under a design and build contract by Hacer Group It is Cbus Property’s second residential joint venture after its partnership with Brookfield on Classic East Melbourne. comprises seven storeys of office space above two levels of retail spaces.\u003c/p\u003e\u003cp\u003eThe private developer chose Ironside to deliver the tower Owings and Merrill.\u0026nbsp;\u003c/p\u003e\u003cp\u003eCo-working space provider The Commons will be an anchor tenant—the developer said 80 per cent of the net lettable area for the project is leased.\u0026nbsp;\u003c/p\u003e\u003cp\u003eV-Leader managing director Andy Zhang said that the developer was targeting a specific tenant with the project.\u003c/p\u003e\u003cp\u003e“In developing the scheme for this site contemporary offerings for smaller structures—for example private family offices—which often sit within traditional somewhat aged builds,” Zhang told \u003cem\u003eThe Urban Developer\u003c/em\u003e.\u0026nbsp;\u003c/p\u003e\u003cp\u003eAs part of the project opened in 1887 and also known as the Hotel Claremont will be renovated as the building transforms as an 11-storey tower.\u0026nbsp;\u003c/p\u003e\u003cp\u003eThe upper floors will be set back from the Toorak Road frontage and the original facade retained and restored.\u003c/p\u003e\u003cdiv id=\"1dZhrDeQHBCglL4sCBtaa9\"\u003e\u003cpicture\u003e\u003cimg src=\"//images.ctfassets.net/8pr762qjocl3/2h3pEQf5BtJG0DqCvkeBon/ac25721714805679bde227af98001f2d/mdi_article_image_v_leader_south_yarra.jpg\" alt=\"The facade of the Hotel Claremont also known as the South Yarra Coffee Palace 2021 with the planning permit already in place for $18.7 million according to CoreLogic property records.\u003c/p\u003e\u003cp\u003eIn 2022 Owings and Merrill's render of the South Yarra office project by V-Leader.\",\"alt\":\"Skidmore Owings and Merrill's render of the South Yarra office project by V-Leader.\",\"imageDesc\":\"Skidmore The project on the 906sq m site at 189 Toorak Road comprises seven storeys of office space above two levels of retail spaces The private developer chose Ironside to deliver the tower Co-working space provider The Commons will be an anchor tenant—the developer said 80 per cent of the net lettable area for the project is leased V-Leader managing director Andy Zhang said that the developer was targeting a specific tenant with the project somewhat aged builds,” Zhang told The Urban Developer will be renovated as the building transforms as an 11-storey tower The upper floors will be set back from the Toorak Road frontage and the original facade retained and restored In 2022, V-Leader filed plans to change the design from the previously approved 12-storeys tower to 11 storeys The developer wants to complete the project by the third quarter of 2025 It is the second time the developer has collaborated with Skidmore Owings and Merrill after the practice designed V-Leaders’  $450-million office project at 600 Lonsdale Street in the Melbourne CBD V-Leader recently listed that site for sale Property developer and committed anti-ageing biohacker Tim Gurner has a habit of getting on people’s nerves Usually, that comes from the things the almost-billionaire says: remember his comments that Millennials shouldn’t eat smashed avocado if they wanted to buy a house, and that “we need to see pain in the economy” to increase productivity Property developer Tim Gurner outside the Jam Factory.Credit: Eamon Gallagher the Gurner Group has raised the ire of residents in South Yarra who live near the company’s multibillion-dollar redevelopment of the Jam Factory on Chapel Street locals kicked up a stink at after-hours demolition work on the 18,000-square-metre site Stonnington Council Mayor Melina Sehr accused Gurner of breaching local laws and approved permit conditions The noise was so bad that many residents were unable to sleep and concrete dust covered surrounding cars and buildings Demotion work on the Jam Factory in South Yarra’s Chapel Street.Credit: Penny Stephens The council is seeking an urgent meeting with the developer to ensure it doesn’t happen again although it looks to CBD like most of the carpark has been knocked down already away from the redbrick facade on Chapel Street Stonnington also wants Gurner to address the breaches it says have occurred – free day passes for residents to his Saint Haven wellness clubs (annual fees: $23,000) It has threatened to take Gurner to the Victorian Civil and Administrative Tribunal if the alleged non-compliance persists “Residents can be assured that inappropriate noise and dust impacts are absolutely unacceptable and local amenity is of utmost concern,” said Sehr South Yarra councillor Kate Hely told CBD that she had been inundated with complaints from nearby residents “People were really concerned that council had approved a demolition permit which was dramatically impacting their ability to sleep and function,” Hely said “And then it became apparent that council hadn’t actually issued that demolition permit.” disappointment and surprise” at the allegedly unapproved demo work An artist’s impression of the Jam Factory redevelopment She said residents weren’t opposed to the development but wanted the work to be completed in a way that respected their amenity And there is plenty of hammering still to come The rebuilt Jam Factory will house 448 apartments as well as high-end restaurants and other entertainment options Gurner did not respond to a request for comment His PR team promised a reply but have yet to get back to us Prime Minister Anthony Albanese’s best-laid plans to call an election for April 12 this weekend after the poll in Western Australia could be hit by a literal cyclone churning off the coast of southern Queensland The invite to a federal Laborbusiness forum budget night fundraiser If Cyclone Alfred wreaks enough havoc to make a Sunday trip to Yarralumla politically untenable the government will be dragged back to Canberra later this month to deliver a budget But the bubble is prepared. As CBD reported this week invitations are out for the Liberal Party’s budget reply fundraiser The federal Labor business forum has been circulating invitations for its own budget night fundraisers for some time now With conventional wisdom rallying around an early April poll those invitations were assumed to be just that prospective donors received another timely reminder of a “standing networking dinner reception” on budget night (starting at $1200 a head) Perhaps someone in head office knows something we don’t given the circumstances creating uncertainty around the election date we would say it’s all in rather poor taste Labor frontbenchers weren’t the ones attending fundraisers at harbourside mansions this week and we all know what that means: lots of morning teas and lunches from organisations that want to look like they’re doing the right thing So it was curious to see that the United Firefighters Union was forced to send out a bulletin to members postponing a Women’s Day event due to be held on Friday The late Jane Garrett and firefighter union leader Peter Marshall.Credit: Josh Robenstone and Angela Wylie We’re told that there are so many other competing get-togethers happening at the same time that the union has decided to move it to a later date Readers may recall the union’s vicious war with the state government and Country Fire Authority over a pay deal which led to Jane Garrett standing down as emergency services minister and later accusing Marshall of bullying including that he threatened to put an axe through her head (he categorically denies this) Garrett, who died of breast cancer in 2022 at age 49, also commissioned a Human Rights Commission report into allegations of sexual discrimination in Victoria’s fire services that was never released The United Firefighters Union had to cancel its International Women’s Day event Some of the report’s leaked contents detailed “everyday sexism” and a “hyper-masculine culture” in the brigade The United Firefighters Union fought for the report to remain confidential “The UFU remains a strong supporter of [International Women’s Day] and will continue to run annual events as we have done in the past,” a union spokesperson said on Thursday Start the day with a summary of the day’s most important and interesting stories, analysis and insights. Sign up for our Morning Edition newsletter Property developer and committed anti-ageing biohacker Tim Gurner has a habit of getting on people\\u2019s nerves that comes from the things the almost-billionaire says: remember his comments that Millennials shouldn\\u2019t eat smashed avocado if they wanted to buy a house the Gurner Group has raised the ire of residents in South Yarra who live near the company\\u2019s multibillion-dollar redevelopment of the Jam Factory on Chapel Street The council is seeking an urgent meeting with the developer to ensure it doesn\\u2019t happen again Stonnington also wants Gurner to address the breaches it says have occurred \\u2013 (annual fees: $23,000) \\u201CResidents can be assured that inappropriate noise and dust impacts are absolutely unacceptable and local amenity is of utmost concern,\\u201D said Sehr \\u201CPeople were really concerned that council had approved a demolition permit which was dramatically impacting their ability to sleep and function,\\u201D Hely said \\u201CAnd then it became apparent that council hadn\\u2019t actually issued that demolition permit.\\u201D Hely said there was a sense of \\u201Cshock disappointment and surprise\\u201D at the allegedly unapproved demo work very invasive levels of sound,\\u201D she said She said residents weren\\u2019t opposed to the development but wanted the work to be completed in a way that respected their amenity Prime Minister Anthony Albanese\\u2019s best-laid plans to call an election for April 12 this weekend after the poll in Western Australia could be hit by a literal cyclone churning off the coast of southern Queensland invitations are out for the Liberal Party\\u2019s budget reply fundraiser prospective donors received another timely reminder of a \\u201Cstanding networking dinner reception\\u201D on budget night (starting at $1200 a head) Perhaps someone in head office knows something we don\\u2019t we would say it\\u2019s all in rather poor taste Labor frontbenchers weren\\u2019t the ones attending fundraisers at harbourside mansions this week International Women\\u2019s Day is this week and we all know what that means: lots of morning teas and lunches from organisations that want to look like they\\u2019re doing the right thing was forced to send out a bulletin to members postponing a Women\\u2019s Day event due to be held on Friday We\\u2019re told that there are so many other competing get-togethers happening at the same time that the union has decided to move it to a later date Readers may recall the union\\u2019s vicious war with the state government and Country Fire Authority over a pay deal who died of breast cancer in 2022 at age 49 also into allegations of sexual discrimination in Victoria\\u2019s fire services that was never released Some of the report\\u2019s leaked contents detailed \\u201Ceveryday sexism\\u201D and a \\u201Chyper-masculine culture\\u201D in the brigade \\u201CThe UFU remains a strong supporter of [International Women\\u2019s Day] and will continue to run annual events as we have done in the past,\\u201D a union spokesperson said on Thursday Start the day with a summary of the day\\u2019s most important and interesting stories Melbourne mansions have quietly sold for prices as high as $25m amid an unexpectedly busy holiday period that’s gifted richlisters major paydays The Toorak home of the late business mogul Baillieu Myer and his wife was among those to change hands after being listed for sale at $20m-$22m in spring last year The four-bedroom mansion at 4 Grant Ave was held by the Myer family for nearly 70 years, and is just moments away from the family’s Cranlana estate at 62 Clendon Rd which is also for sale with a $96m-$105m price range RELATED: Myer family’s Toorak home sells for first time in 70 years Movie and TV stars’ homes destroyed by LA fires Porter Davis co-founder makes millions in Armadale Myer was the son of Sidney and Merlyn Myer and joined the family’s company Forbes Global Properties Australia director Michael Gibson confirmed the sale but declined to comment further South Yarra sold and had a $20m-$22m price tag when it was listed for sale the super wealthy Di Pilla family connected to Chemist Warehouse has snapped up a South Yarra property for circa $25m brokered by Melbourne Sotheby’s International Realty an executive director of the pharmaceutical retail conglomerate has placed a caveat on the mansion in what is one of Melbourne’s most-prestigious suburbs HMC Capital managing director David Di Pilla brokered the merger of ASX-listed Sigma Healthcare and Chemist Warehouse for a whopping $8.8bn in 2023 Melbourne Sotheby’s International Realty also managed the sale of the six-bedroom house at 2 Highgate Hill Industry sources said the mansion on the sought-after street sold for about $17.5m Porter Davis co-founder David Shergold and his wife Nathalie also sold their five-bedroom house on the second day of 2025 for just under $19m The house at 6 Flete Ave was listed in October with a $20m-$22m price guide with property records showing it was in Nathalie’s name Mr Shergold helped create the home building business in 1999 but sold his stake in 2007 — well before Porter Davis went into liquidation with about 1700 people awaiting homes to be built last year While Abercromby’s director Jock Langley declined to comment on who the sellers were he said both the vendors and the purchasers were very happy “The significance of this property sale in the early new year is a good confidence boost for those who are looking to transact,” Mr Langley said South Yarra sold on Christmas Eve in the vicinity of its $8m-$8.8m price guide One of Australia’s first ever infinity pools Marketing mogul Sally Joubert and her architect husband Richard also sold their South Yarra private oasis in the vicinity of its $8m-$8.8m price range on Christmas Eve The four-bedroom mansion at 52 Kensington Rd features one of the first infinity-edge pools ever built in Australia Luma Research chief executive Ms Joubert told the Herald Sun earlier that her home offered a 180-degree view of the Yarra River Como Park and Toorak Hill which was amazing “You even get a view from the garage,” she said at the time MORE: Australian-Indian princess’ linked to haunted Vic homes Famous architect’s restored High Country riverfront pad for sale Inside dream homes of Australia’s top agents But thankfully, Melbourne just scored a new Greek restaurant down in South Yarra thanks to hospo veteran Nik Pouloupatis (Grossi Florentino, Attica, Vue de Monde) He's worked in the industry for a good 35 years but is only now striking out on his own by opening Astoria Bar Kè Grill in the former Shadowboxer venue on Toorak Road you'll see that the space's design has not changed much The Victorian terrace house got a good lick of paint and new furniture which is best for chill sip-and-snack sessions or long lunches in the sun classic Greek fare gets a contemporary twist — without straying too far from tradition You'll tuck into familiar small dishes like house-made spanakopita Get around a seared snapper with asparagus the youvetsi (a lamb stew with kritharaki) Greek and Aussie wines and beers are up for grabs as well plus all your usual cocktails and mocktails There aren't too many surprises here — just good Greek eats in a laidback setting “Running a place properly is extremely expensive now Everything has gone up at least 20 per cent and shipping costs have doubled But I felt like there was a moment to do something new I’ll tell you in six months,” Jean-Paul Prunetti tells Broadsheet Anyone who’s eaten at Prunetti’s first and only restaurant, France-Soir, in the past 38 years has probably tasted this flippant yet entirely charming attitude of his – one famously shared by the staff travel spots and more – curated by those who know We can only imagine his excitement working on this new menu of grignotages (snacks) Marcel Petite Comté and Russian Oscietra caviar The idea is that you can get bigger meals next door from classic cocktails mixed to perfection to a wine list that’s equally (if not more) impressive chardonnay from Burgundy sub-regions Cote de Beaune and Cote Chalonnaise and even a Châteauneuf-du-Pape from southern Rhône food and drink are only part of the appeal It’s Le Splendide’s ambience and charm that’ll keep people coming back again and again Putting the supplied heart-shaped stickers over your phone’s camera(s) is a requirement of entry “It’s genuine here because we’re all French Bakeries and Restaurants That Opened or Closed in April 32 of the Hottest Dishes and Drinks in Melbourne Right Now Menu Reveal: Five Things To Order at Junda Khoo’s Ho Liao First Look: Filipino Pop-Up Palay Moves to Fitzroy for Good Look out for your first newsletter in your inbox soon The best of Melbourne straight to your inbox We help you navigate a myriad of possibilities Sign up for our newsletter for the best of the city By entering your email address you agree to our Terms of Use and Privacy Policy and consent to receive emails from Time Out about news Sign up for our email to enjoy Melbourne without spending a thing (as well as some options when you’re feeling flush) By entering your email address you agree to our Terms of Use and Privacy Policy and consent to receive emails from Time Out about news, events, offers and partner promotions. Melbourne If discreet exclusivity is the name of the game at Saint Haven – a private wellness club best known for its jaw-dropping waitlist (15,000 people!) and cutting-edge bio-hacking treatments – consider it mission accomplished. Upon arrival at South Yarra’s Capitol Grand building I struggle to find the entrance randomly pushing at surfaces hoping one would magically turn out to be a door a club member arrives and waves his hand over a statue of the ancient Greek god Hermes thus revealing the portal to this famed sanctuary of health The South Yarra location is actually the second of Saint Haven’s Melbourne-based centres, with the first opening in Collingwood in 2023 They are the brainchild of wellness and property entrepreneur Tim Gurner whose aim is to create a “unique” space where like-minded people can come to socialise work and gain access to a comprehensive suite of anti-ageing Stepping into the space feels like you’re entering a transcendent world – one of focus Gurner Group’s head of interior design it’s beautifully illuminated with curved accents soft curtains and a truly gorgeous teardrop chandelier part Nine Perfect Strangers-style health retreat Some of the most eye-boggling facilities include an entire bathhouse complete with a floor-to-ceiling tiled Hammam steam room two cold plunge pools and a candlelit sunken lounge; a soundproof meditation room; yoga and pilates studio; and an enclosed arena for group performance training (with chic custom monogrammed equipment But my absolute favourite feature is the ‘fountain of youth’ – a reverse osmosis filtered water fountain (yes “Bottoms up,” I whisper to myself as I take a sip half expecting a jolt of energy to zap through my body but there’s no denying the water tastes fresh.) I’m lucky enough to be experiencing a round of Hugo PEMF (pulsed electro-magnetic field) mat therapy a non-invasive treatment that emits electro-magnetic pulses through your body stimulating the cells and promoting natural healing I opt for an anxiety relief setting (there’s a whole menu to choose from) and settle in There’s really nothing to feel – that’s the whole point – but it’s relaxing nonetheless to lay ensconced in a fleecy blanket and be lulled into a doze by the moody pink-purple lighting.  The full gamut of treatments and equipment are truly futuristic: IV vitamin infusion therapy full body red light therapy (one of these machines costs $250,000 alone) You can even book in for cryotherapy – aka exposing your body to extremely low temperatures in order to help with muscle pain and post-exercise recovery and let’s not forget the practitioners and coaches offering consultations on things like nutrition My next stop is at the ancient bathhouse – it’s intimate and almost feels subterranean The water in the main thermal magnesium pool is heated to 38°C and it’s a delight to slip into – even more so when a warming turmeric elixir is delivered While it’s tempting to soak my worries away I spot a few people doing a cold plunge and feel inspired to follow suit and after approximately 24 seconds I’m scampering back to where I came from All this wellness is enough to make a gal hungry so I make a beeline for the bar and restaurant (not before drying my hair with a fancy Dyson hairdryer though) It’s a buzzier atmosphere here – there are people wheelin’ and dealin’ over laptops and coffee and friends meeting for a post-workout smoothie Head chef Chad Lynch fills me in on the menu which is centred around nourishing organic wholefoods (you won’t find any refined sugar or alcohol here) that encourage a balanced While some of the ingredients sound genuinely made-up – hello methylene blue – the omelette I end up ordering is delicious this level of luxury doesn’t come cheap Memberships at Saint Haven start at $179 per week with four tiers available – the top one is said to be more than $1,000 per week there’s the aforementioned waitlist you’ll likely find yourself on.  I definitely leave feeling refreshed and rejuvenated – and inspired to take better care of my physical and mental health and it’s important to mention that many of these reverse-ageing technologies and progressive wellness treatments are not a guaranteed ticket to optimal living But for those who have the means to invest (heavily) in their health To find out more about Saint Haven (and join that epic waitlist!), head to the website Stay in the loop: sign up for our free Time Out Melbourne newsletter for the best of the city Thanks for subscribing! Look out for your first newsletter in your inbox soon! twitterinstagrampinterestAbout us Contact us You can now click/tap WATCH to start the live stream You can now click/tap LISTEN to start the live stream You can now click/tap LATEST NEWS to start the live stream Police are hunting thieves accused of stealing $21,000 worth of clothing from a South Yarra store last month Press PLAY to hear the full details from police + Ross and Russel’s reaction to the story The three men are accused of smashing the window to the Chapel Street store before loading the goods into a black hatchback at around 3am on March 10 The offenders are perceived to be aged in their late teens or early twenties and were all wearing hoodies and facemasks at the time of the incident if you look at that footage there’s plenty of cars driving past,” 3AW Breakfast host Russel Howcroft said Anyone who has any information is urged to contact Crime Stoppers on 1800 333 000 or submit a confidential report online at www.crimestoppersvic.com.au Our newsletter hand-delivers the best bits to your inbox Sign up to unlock our digital magazines and also receive the latest news Situated on Toorak Road, just around the corner from the infamous party strip, Ovolo’s South Yarra outpost is perfectly suited to its Chapel Street adjacent location. No detail has been overlooked in accomplishing the hotel’s retro-inspired aesthetic Before you’ve even entered the elevator you’re greeted with a circular neon fire pit and lava lamps – make note of vegan restaurant Lona Misa on your way to check in as it’s here that you can grab a plant-based breakfast lunch or dinner while staying at the hotel The 'groovy' rooms are compact but comfortable and stylish – exactly what you’re after if you’re looking to hit up nearby Chapel Street for either boutiques or clubs (You can also opt for either the 'go-go' or 'boogie' rooms.) Muted jewel-toned geometric patterns adorn the walls of the suite while modern industrial metal finishes are softened by velvet furnishings As if you needed another excuse to organise a stay the hotel now offers the 'Ovolo Standard' – a book direct promise that guarantees guests a range of extras special discounts (like 15 per cent off on top of a price match guarantee) and enhance booking flexibility You'll also score a round of drinks on the house at each Ovolo's Apero Hour And the in-room 'Wonder Bar' is well-stocked with a range of boutique and small batch treats for purchase including Maybe Sammy bottled cocktails,  St Ali beer nuts bottles of Taittinger Champagne and Tony's Chocolonely milk chocolate bars Time Out tip: Have a canine friend in the family Ovolo is completely pet-friendly and will even provide a bed He chose to hold. That was five years ago and since then prices have only fallen further. After about 11 years, he has just sold the apartment for $156,000 less than he paid. This is the puzzle at the heart of Melbourne’s housing affordability crisis: property prices have soared over the long term, but not for all properties. There aren’t enough homes, but there are too many of the wrong type of home. Young families have increasingly been locked out of home ownership, but there are few willing buyers for well-located, entry-priced apartments. The Victorian government this week unveiled fresh plans to increase housing density in areas close to transport and amenities, along with a raft of proposals to unlock land in the outer suburbs, speed up subdivisions and offer relief on stamp duty to address affordability. Of the 25 new activity centres, eight are in the City of Stonnington, one of the most desirable areas to live in Melbourne. And yet, that puzzle: of the homes that sold in Stonnington in the June quarter, 25.8 per cent traded at a loss, figures from research firm CoreLogic show. Stonnington runs second to the Melbourne City Council area, where 39 per cent lost money. Split by property type, 32.4 per cent of Stonnington apartments that sold in the June quarter lost money. Only 2.1 per cent of houses met the same fate. Since nearly one in three apartment sellers in Stonnington are losing money, stories like Swanson’s are not unusual, even if many owners are reluctant to speak publicly. Andrew and Whitney’s South Yarra apartment from The Blocktagon 2015 is up for sale Buyer circles $1m block of land smaller than a cinema screen The Melbourne suburbs where it’s cheaper to buy than rent The Beechworth-based public servant, 63, and his wife bought their two-bedroom apartment off the plan about 11 years ago for $691,000. They settle to the new buyer on Monday for $535,000. Taking into account holding costs, he estimates conservatively they have lost $200,000. The property is near South Yarra train station, where a cluster of high-density apartment blocks have been built. It was rented out but the tenant relocated after the COVID-19 pandemic hit. Then the apartment was competing for tenants with its similar neighbours. Once interest rates jumped the rent no longer covered the mortgage repayments. Then the Victorian government increased land tax on second home owners. “It’s a lovely apartment in a lovely complex where we are in South Yarra but what we weren’t aware of is at the same time there was a lot of other developers who were also building lots of apartments,” he said. “I think the apartment market is overcrowded. I know there’s a lot of people needing rental accommodation … it’s a catch-22 in a way.” He sold through Woodards South Yarra, which handles sales of a mix of homes, from apartment towers, art deco unit blocks to multimillion-dollar houses. Director Luke Piccolo says large two-bedroom boutique apartments there can cost close to $2 million. There are much more affordable options in the Forest Hill precinct near the train station, where some towers have had cladding issues, water issues, or lesser quality builds. Buyers can associate some of these homes with uncertainty and risk if they have heard they may have to pay for cladding repair or they may face a drop in value, Piccolo said. “Some first home buyers have bought a one-bedroom apartment for $450,000 to $500,000 and it’s now worth in the high $300,000s or $350,000,” he said. “Losing $100,000 on your first purchase sets people back a long way, a very long way.” Piccolo welcomes the idea of more apartments in well-located areas near transport and infrastructure but fears they will not match the demand from young family buyers who would better suit a three-bedroom apartment, a townhouse or a house. He said apartment demand had been soft lately. “The owner-occupiers who are the vast majority of the buyers are cautious about buying apartments and cautious about the price they’re paying whereas anything that has its own block of land and has a backyard and is fit for a family, the demand is incredibly high.” CoreLogic head of Australian research Eliza Owen has been tracking loss-making sales for years. She points out that during the 2010s there was a building boom financed by investor buyers who could access lower interest rates and long interest-only periods, which have now mostly dried up. Owen said developers looking to start projects now would need pre-commitments to get finance – perhaps the stamp duty concession would help – and would only be likely to bring new supply of units to market if prices rise. This is the conundrum. It’s a plan to increase supply of units so the value of homes comes down, but for that supply to be feasible, the value of homes would need to go up, Owen said. She said existing investor-grade apartment towers were built for a type of investor buyer that is now less common. “The buyer pool can shift easily, the urban landscape can’t,” Owen said. “It’s really important that the stock that is developed under these policies do have lasting buyer demand if they’re going to have feasibility from developers and if they’re going to have take up from buyers.” Unit returns have generally been lower than houses, and have a higher incidence of loss, she said. “That’s a generational shift we need to be prepared for. It’s very unlikely this generation of owners shifting to the apartment sector out of necessity are going to be making the same windfall gains as previous generations who were more concentrated in the detached house segment,” she said. South Yarra’s median unit value is about $618,000, 9.6 per cent lower than its record high in November 2021, and still 2 per cent lower than five years ago, CoreLogic found. Armadale’s median unit value is 12.4 per cent below its April 2018 peak. Residential property expert Angie Zigomanis said the financial viability challenge – rather than zoning – is the reason there isn’t more new apartment development happening now. For example, the South Yarra station area had a ramp-up in new supply focused on investor buyers. Now the market is favouring owner-occupiers and there is less demand for that stock, the head of data and insights at Quantify Strategic Insights said. “If you need to be achieving a certain price to be able to develop it, and purchasers have options in the same suburb that are a lower price … where is the incentive to pay the brand new price?” That might change in a few years if pricing catches up. But in the short term he thought new development would be largely boutique projects and townhouses. He agreed prices would need to rise to underwrite new towers, and thought stamp duty relief might help a little. But if more apartments are built that will restrict capital growth, he said. Thomson Real Estate director John Chartres welcomes new apartments near train lines and shops. But when he heard about the government plans for new units, he thought: “Who’s going to buy them?” “We’re selling a lot of investor stock at the moment because of the government’s taxes,” he said. “We’re trying to find the owner-occupiers to buy the apartments, and they’re mainly first home buyers but we’re struggling.” He said first home buyers are selective and want a courtyard or balcony with a nice outlook in a secure building. But many investor-grade apartments for sale don’t have balconies, some have borrowed light in the bedrooms, some have car stackers and if they are smaller than 40 square metres first home buyers may not be able to get a home loan. Xynergy Realty chairman Bruce Oliver has seen investors selling out of high-rise developments given their higher land tax. “The capital gain is not that great when it comes to high-rise buildings,” he said. “There are too many units available in one building … if they tried to resell within the first five years it’s most likely they lose their money. “But if they buy a boutique apartment it’s better and depending on which development they buy they probably could make money.” Biggin Scott director Michael Tynan said apartment buyers had shifted from investors to first home buyers, as renters discovered it could be cheaper to buy. “If you look at South Yarra, Yarra Street, Claremont Street, that little pocket there, there’s a lot that’s available. Haven’t been selling, just sitting there on the market,” he said. He said smaller dwellings were more likely to lose money. “For the newer style apartments, the more cookie-cutter apartments, there hasn’t been any growth, or it’s actually gone backwards. For the older style apartments in the bigger blocks, there has been a little bit of growth, but not as much as you’d be hoping for,” he said. As for investor Richard Swanson, he also owns a Queensland apartment, but asked if he would invest in a Melbourne apartment again, he is blunt. “No, never,” he said. “There is no incentive to own more than one property in Victoria.” The apartment was supposed to be part of their retirement plans. Instead it cost $200,000. “It has just been a nightmare. I just want to put it behind me.” Melbourne hospo veteran Scott Pickett has just dropped his latest venture into the leafy surrounds of Como House & Garden bringing some serious European energy to one of the city’s poshest postcodes Como Lane marks the Pickett empire’s first proper café tucked away in what used to be the gardeners’ sheds of the 178-year-old estate It’s giving major Parisian vibes with its swanky pistachio-green tiled counter rattan chairs and marble-topped tables – proper fancy stuff that’ll look mint on your Instagram Check out our gig guide, our arts guide, our festival guide, our live music venue guide and our nightclub guide. Follow us on Instagram here. A post shared by Como Lane Cafe (@comolanemelbourne) The menu is peak Pickett, drawing inspo from his best-known restaurant dishes while throwing in some café classics with a twist. Brekkie features buttermilk pancakes with stone fruit and lemon myrtle, chilli scrambled eggs with Longrain‘s XO sauce and a salmon breakfast bowl that’ll make your smashed avo look properly basic Lunch brings a mix of grab-and-go sangas and sit-down fare like market fish, chicken schnitzel with celeriac and spiced butter sauce, and a wild mushroom and goat cheese quiche that your nan could never. Coffee comes courtesy of Merchant Coffee Roasters with the usual suspects of cold-pressed juices for the clean-living South Yarra set “It’s an incredible honour to be opening a venue at Como House & Garden,” says Pickett “Como Lane is significant as our first full-service café from Scott Pickett Group I’m excited to try something different.” The space seats about 60 punters across indoor and outdoor areas and they’re well keen on bookings for everything from hen’s parties to weddings There’s also talk of flower workshops and high teas down the track plus a retail section offering house-made jams and preserves for those wanting to take a bit of the bougie experience home National Trust CEO Collette Brennan reckons the partnership is a perfect match praising Pickett’s “expertise in hospitality and storytelling through food.” The café will run alongside Como House’s regular events program aiming to become part of the daily routine for well-heeled locals after their morning jog Book a table or find out more here Melbourne arts patron and property investor Jennifer Shaw has listed her luxury South Yarra home for sale after a smart rebuild that combined two apartments with an asking price of $40 million to $43 million The contemporary home on Marne Street in the sought-after Domain precinct sits behind a 1930s facade and has had an overhaul designed by architects Powell & Glenn Marshall White selling agent Marcus Chiminello declined to comment on the identity of the owner leaving it to public records to reveal the ownership Shaw is an arts patron whose donations support the National Gallery of Victoria the Melbourne Museum and the Royal Botanic Gardens The Shaw family were the long-term owners of a historic CBD building on Bourke Street leased to jewellers Kozminsky sold after the store closed in 2017 for $7.6 million to the Giannarelli stonemason family Jennifer Shaw had been working for Kozminsky jewellers in 1976 when the company needed to find a new location and her mother noted that 421 Bourke Street was coming up for sale “We went to the [Kozminsky] directors and offered them the opportunity. My mother said if she bought the building at auction and did it up the way they wanted ‘would they be interested in becoming tenants?’. They jumped at that with both arms,” Shaw told The Australian Financial Review after the auction in 2017 The South Yarra home has garaging for 12 cars.Credit: Marshall White Shaw lived in one of the apartments in Marne Street but decided to develop the two units into one stylish house six-bathroom home is set on 887 square metres and spans five levels with a lift It features a striking rooftop terrace with a swimming pool and city views The kitchen has integrated Liebherr refrigeration Miele and Gaggenau appliances and Calacatta marble while there’s a bar and plenty of indoor/outdoor living space plus a north-facing garden celebrity landscape architect Jack Merlo has listed his Toorak home with price hopes of $16 million to $17 million after paying $13,610,500 for the residence in late 2021 The four-bedroom home set on 1330 square metres comes with a tennis court and swimming pool – plus manicured It is also listed through Chiminello who would not comment on the buyer Merlo is upgrading after earlier this year buying the Myer family’s Grant Avenue home according to a source with knowledge of the deal who did not wish to be identified which had been listed with a guide of $20 million to $22 million The Myer home is not far from another home being sold by the same family which is still available for between $96 million and $105 million Chiminello has also listed a grand home on Kooyong Road Toorak Although the agent was again tight-lipped on the owner’s identity public records list the owner as Jessica Jie Yu and reveal the 2085-square-metre block last traded for $8.65 million but the house has since been rebuilt into a Christopher Doyle-designed mansion with six bedrooms and an eight car garage two Calacatta marble kitchens with Gaggenau appliances And the same agent listed another Christopher Doyle special on Montrose Court with a guide of $28 million to $30 million being sold by the founding family of listed aged care company Regis Healthcare The Dorman family also have a private investment office and a family foundation established by Bryan and Christine Dorman and now supported by sons Nicholas and Andrew Public records show the Toorak home is a deceased estate that was in Christine’s name Bryan was co-founder of Regis with Ian Roberts Chiminello was tight-lipped on the home’s ownership The stately four-bedroom home features oak flooring Chiminello was upbeat about the outlook for Melbourne’s top-end market “There has been already some great signs of activity and I am confident we are going to see a lot of success in the first quarter,” he said He thought the interest rate cut would boost confidence even though many buyers and sellers at this level are less reliant on finance “It just gives a sense of the likely trajectory of the cost of money and that breeds confidence in the buying market It eventually has an overall effect on property whether it is a $500,000 unit or a $50 million home.” It follows logistics boss Paul Little’s recent sale of his Toorak house that reset the Victorian record for a price tipped to be in the ballpark of $135 million A former version of this story said the home in Marne Street \\u201CWe went to the [Kozminsky] directors and offered them the opportunity My mother said if she bought the building at auction and did it up the way they wanted \\u2018would they be interested in becoming tenants?\\u2019 They jumped at that with both arms,\\u201D Shaw after the auction in 2017 while there\\u2019s a bar and plenty of indoor/outdoor living space plus a north-facing garden The four-bedroom home set on 1330 square metres comes with a tennis court and swimming pool \\u2013 plus manicured Merlo is upgrading after earlier this year buying the Myer family\\u2019s Grant Avenue home Although the agent was again tight-lipped on the owner\\u2019s identity Public records show the Toorak home is a deceased estate that was in Christine\\u2019s name Chiminello was tight-lipped on the home\\u2019s ownership a marble kitchen with a butler\\u2019s pantry Chiminello was upbeat about the outlook for Melbourne\\u2019s top-end market \\u201CThere has been already some great signs of activity and I am confident we are going to see a lot of success in the first quarter,\\u201D he said \\u201CIt just gives a sense of the likely trajectory of the cost of money and that breeds confidence in the buying market whether it is a $500,000 unit or a $50 million home.\\u201D It follows logistics boss Paul Little\\u2019s recent sale of his Toorak house that reset the Victorian record But is the spice still right?With more than 100 items on the rejigged menu it’s easy to get confused – or greedy – at the renovated and rebranded Sichuan stalwart Remove items from your saved list to add more Add articles to your saved list and come back to them anytime ShareAs featured in the August hit list. See all stories.1 / 8Floral banquettes and chic lighting are features of the new-look I said this three times before even getting to my table at Dainty on Toorak the just-renovated and rebranded Dainty Sichuan I’ve been coming here since the restaurant opened in 2009 sitting at chunky timber tables in a spice haze the no-nonsense dining room was my gateway to this south-western Chinese cuisine and I revelled in the bold flavours expert cooking and mouth-numbing ecstasy of Sichuan pepper The entrance corridor is awash with video projections of pastoral scenes and the dining room seems palatial rather than merely large Pretty glass teapots and bespoke tablecloths add to the sense of occasion The food offering has been substantially rejigged Cantonese yum cha every lunchtime and a ceremonial duck dish that sees glossy roasted bird carved tableside and served three ways With more than 100 items on the leather-bound menu the waiter cautioned it was too much and my table loosened their pants for the challenge Chongqing chilli chicken.Luis Enrique AscuiI’ll always have Chongqing chilli chicken the fiery classic that signals heat in a shower of dry chillies but is actually more of a culinary stun-gun thanks to a liberal application of Sichuan pepper Many dishes come in huge tureens: mullet is slippery soft in a slick bath jazzed with pickled chillies; sliced pork and house-made tofu gleam in a translucent broth Dainty’s version of a sausage roll sees slow-cooked beef wrapped in flaky pastry; puffed rice is formed into cakes and dusted with salted yolk for a crunchy snack Mullet with pickled chilli.Luis Enrique AscuiIt’s been quite a journey for the Dainty brand The first restaurant opened on Smith Street Owner Tina Li would take a tram to the market to buy ingredients and you’d often hear people at one of the handful of tables marvelling over their first tongue-tingling encounter with this style of food the empire has taken its fragrant fire to the CBD Fair Work fined the group $209,000 for underpaying international workers In its previous incarnation, it was anointed by luminaries including Rene Redzepi, Dave Chang and Sichuan food authority Fuschia Dunlop. I think they would rate this new Dainty. It’s confident, the food is excellent – and who doesn’t love a bit of fancy? Price: Cold dishes: $15.80-$39.80; hot dishes: $28.80-$188; Dim sum: $8.30-$17.50 Fuchsia Dunlop wants us all to eat more Sichuan foodContinue this series Seven great bakeries have opened and (gasp!) they’re not in the inner northThere’s a playful bakehouse on a shopping centre rooftop, a patisserie blending French techniques and Middle Eastern flavours, and a Scandi spot that’s all about buns. ‘More Turkish than the ones in Turkey’: Melbourne bakery’s simit runs rings around the competitionNo need to catch a plane. Drive north of the airport to Roxburgh Park instead to find this sesame-studded bread. You won’t find bog-standard smashed avo at these three new cafes, and they are all the better for itStart your day right at these newcomers serving brunch that flips the cafe script. news and the hottest openings served to your inbox the 30-storey Yarra Street Tower will comprise 382 in a mix of studio one bedroom and two bedrooms and also includes a rooftop saltwater spa games room and co-working space.\u003c/p\u003e\u003cp\u003eThe other at South Melbourne which will have 700 apartments when it opens for lease in October this year.\u0026nbsp;\u0026nbsp;\u003c/p\u003e\u003cp\u003eThe firm is solely focused on build-to-rent in Australia with 1900 apartments under construction in a pipeline valued at $2.3 billion.\u003c/p\u003e\u003cp\u003eOutside Australia Greystar invests in right between Macaulay and Kensington stations,” Woodland said.\u003c/p\u003e\u003cp\u003e“That will start construction in February and take about 24 months to deliver so it will be ready in 2027.\u003c/p\u003e\u003cp\u003e“We have a 200-unit project which will be starting construction .. The two-tower project on a site of more than 3300sq m at 35 Claremont Street at South Yarra will provide 617 build-to-rent apartments and 2000sq m of office space The development on the largest undeveloped landholding in the Forrest Hill Precinct has an estimated that the end value of $500 million The project was designed by Fender Katsalidis comprises 235 studio apartments and was completed in May A laneway connects the towers at the ground floor and incorporates retail space The South Yarra tower is the first under the Urban Living brand and model created by Greystar to address the needs of Australian renters The towers are about 4km from the Melbourne CBD and near the South Yarra train station as well as other transport networks Greystar also recently topped out a three tower build-to-rent project, the Gladstone, at South Melbourne which will have 700 apartments when it opens for lease in October this year.   The firm is solely focused on build-to-rent in Australia with 1900 apartments under construction in a pipeline valued at $2.3 billion. Outside Australia Greystar invests in, develops and manages rental housing, logistics and life science projects.  It is the largest apartment operator in the US and manages more than 966,000 apartments internationally with $78 billion in assets under management.  Greystar Australia managing director Matt Woodland told The Urban Developer that the company would next focus on a project in Melbourne’s Kensington and another project in Sydney’s Zetland. “We will be starting construction soon on a 400-unit deal at Kensington ... right between Macaulay and Kensington stations,” Woodland said. “That will start construction in February and take about 24 months to deliver, so it will be ready in 2027. “We have a 200-unit project which will be starting construction ... in Zetland, in about a month, so mid-September.” Woodland also said that Greystar eventually planned to move west—first to Adelaide and then Perth, but not in the short term. Brisbane is on Greystar’s list but other factors are preventing projects moving forward. “We continue to look but it’s a difficult market to build in right now as it has very expensive construction prices with all the infrastructure that is getting done,” Woodland said.  Watch In Knuckle Sandwich South Yarra directly inspired the in-game location of East City. (Supplied: Andy Brophy) CNN and the BBC World Service which is copyright and cannot be reproduced AEST = Australian Eastern Standard Time which is 10 hours ahead of GMT (Greenwich Mean Time)