<html><body>
A small retail shop on the fringe of the Melbourne CBD has sold for $630,000. 
Located at 759 Bourke Street, the 57 square metre Docklands shop was sold on a net yield of 5.7%. 
It is leased to hair salon Blow Dry Bar, returning $41,600 plus GST.  
Fitzroys selling agent Andrew Hewett said astute investors were now considering Docklands again following the huge increase in population from rapid development over the past 12 years.
“There is no doubt now that Docklands has cemented itself as a large business precinct, connected to the CBD and boasting a number of attractions,” he said.
The Bourke Street shop is located between the two NAB office towers in Docklands and opposite the new purpose-built Medibank Private development.
</body></html>

kjiminez-eaYKfU7qd2

Docklands retail shop sells for $630,000

<html><body>
The Paris-end of the Melbourne CBD is set to welcome a new international luxury fashion brand - Ermenegildo Zegna.
The Italian fashion house has signed a lease to open a new flagship store concept at AMP Capital Wholesale Office Fund’s Collins Place.
Ermenegildo Zegna is taking 400 square metres over two levels at 45 Collins Street, in what will be a new, expanded Melbourne headquarters for the label. It will join Giorgio Armani, which recently recommitted to its premises, on the Collins Street frontage of the building.
AMP Capital Wholesale Office fund manager Nick McGrath said: “Collins Place is an iconic property, occupying a premium location on Collins Street in Melbourne and the AMP Capital Wholesale Fund is pleased to welcome Ermenegildo Zegna as a new tenant to the precinct and to extend our relationship with Giorgio Armani”.
He said the fund had been actively revitalising Collins Place to improve experiences for visitors by enhancing the public space areas and delivering an exciting retail offer.
Ben Tremellen of Colliers International negotiated the Ermenegildo Zegna lease on behalf of AMP Capital.
The new signing comes amid reports in The Australian Financial Review that French luxury handbag maker Longchamp is in talks to replace luxury retailer Hermès as tenant of its 115 Collins Street. 
</body></html>

Ermenegildo Zegna coming to Paris-end of Collins Street

<html><body>
It's being called NSW’s great land bank rush. New data from Savills Australia showed that since 2009, more than 300 hectares of industrial land in Sydney's western precinct has been snapped up by developers and real estate investment trusts (REITs).
The great rush has seen Sydney’s industrial land banks total an estimated 1,100 hectares, the bulk of which (75%) is held in the western precinct. 
By Savills calculations the land take up in the western precinct (Eastern Creek, Erskine Park, Arndell Park, Wetherill Park, Smithfield, Yennora and Girraween) has been at over 63 hectares per year since 2009.
Pre-lease activity has accounted for about 40 hectares of land take up per year, with over 1,000,000 square metres of gross lettable area secured by tenants seeking new logistics style accommodation within this corridor. 
Houssam Yakzan of Savills Research said: “there is strong demand from all the current land bank owners in the western precinct to further increase their land holdings and for REITs that don’t have any land banks they will be aggressively seeking to purchase land to grow their development pipeline.”
“As land reserves diminish with each new development, industrial land is being hotly contested".
He also noted that there was an enormous weight of money for industrial property right now and if a fund wanted to grow, more than likely it would need to grow from organic origins – either develop speculatively or play the pre lease market on their large land banks.
With the current demand for sites in excess of 10 hectares, Yakzan believes land values will be enhanced in the short term and throughout 2014.
Values in late 2012 to early 2013, he said, sat at a rate of $200-$225 per square metre for these large sites which were serviced and benched lots.
It is now tipping rates to be revised to between $250-$275 per square metre.
Smaller sites of one hectare have already experienced an increase in value - from just under $300 in March 2013 to now averaging $325 per square metre. 
Photo courtesy of Flickr/<a href="https://creativecommons.org/licenses/by/2.0/" target="_blank">Creative Commons</a>.
</body></html>

REITs snap up over 300 hectares of western Sydney industrial land

<html><body>
Knight Frank has moved to strengthen its asset management services team in Australia, making two key appointments.
Nick Mavropsi will be joining the firm as national director of sustainability, while Bobbette Scott has been appointed state director of asset management services in South Australia.
Scott will focus on growing existing client relationships and developing the asset management services business in South Australia. Prior to Knight Frank, Scott was with CBRE as a senior director of asset services where she significantly raised the business line’s profile and grew the market share.
 Mavropsi will be responsible for strengthening Knight Frank’s sustainability offering and ensuring the company delivers maximum asset value through continuous advancements in Facilities Management.
In his previous role, Mavropsi was with CBRE as a regional director and was instrumental in the creation of multiple company-wide operational systems and processes across the Asia Pacific. 
</body></html>

Knight Frank make two appointments to asset management services team

<html><body>
A private investor has paid $5.25 million for a modern industrial complex in Brisbane’s Crestmead.
Located in one of Brisbane's fastest growing industrial logistics hubs, the 6-8 Radium Street property, comprises 4,358 square metres of building floor area.
The vendor of the fully leased industrial property was Rob Pilch Investments Pty Ltd.
CBRE’s Sam Higgins and Edward Bull negotiated the sale.
The property offered a diverse income spread, with three established tenants -global company Unistrut and Australian-based companies Parkridge Holdings and Leverlink.
Mr Higgins said the property attracted strong interest from a range of private investors - most notable self-managed super funds.
“Demand for properties such as the subject investment is significantly outweighing current stock levels, and as a result of this imbalance, we anticipate net yields will continue to strengthen,” he added.   
</body></html>

Private investor buys Crestmead, Brisbane industrial complex

<html><body>
A 1.925 hectare development site in Melbourne's Cairnlea has sold under the hammer for $6.41 million.
A prominent local developer was the buyer of the Brimbank Council development site, 93 Furlong Road.
Zoned Mixed Use, the property includes a 114.29 metre frontage to Furlong Road and 157.90 metre frontage to Cairnlea Drive.
Fitzroys agents James Gregson and David Bourke handled the campaign.
Mr Bourke said the site was originally earmarked for Brimbank Council offices, however this was subsequently shelved with Council deciding to develop the new Civic Centre in Sunshine central and subsequently the site became surplus to council requirements.
</body></html>

Local developer pays $6.41 million for Cairnlea, Melbourne site

<html><body>
A private speculator has purchased a development site in Meadowbank, in Sydney's west from McClintock Properties for $3.55 million.
The 115 Bowden Street development site has an area of about 1,075 square metres and is zoned mixed use. 
The selling agent, Knight Frank's Michael Wydeman, said: “The site is located approximately 15 kilometres west of Sydney, and walking distance to ferry, bus and train, the development site appealed to a market starved of mixed use sites in this size and price range.”
The co-selling agent was Michael Boom of Knight Frank. 
</body></html>

Development site in Sydney's Meadowbank sold for $3.5 million

<html><body>
Health and wellness studio, Pure Health Clubs, has secured the last remaining vacancy in the Valad Property Group owned retail building in Brisbane's Queen Street. 
The club signed a seven year lease for an entire second floor, at 60 Queen Street, with an area of 796 square metres.  
Currently operating at 78 Queen Street, the club will relocate from their Brisbane CBD club to the new venue once fitout is completed in May.
Colliers International's Amanda Foggo negotiated the lease.
“The new venue will enhance the club’s functionality, offer brand new facilities to members and assist in growing their client base," Foggo said. 
The 3,150 square metre building, spread over three levels, is anchored by other national retailers.
</body></html>

Final vacancy in Queen Street, Brisbane building snapped up

<html><body>
Dual Olympian and Commonwealth Games gold medallist Jane Flemming is selling her mixed-use three-level freehold property in Sydney's Balmain. 
The 6 Montague St property is set to go under the hammer next month, with price expectations of $3 million plus.
Agents Miron Solomons &amp; Henry Burke of Colliers International have been appointed selling agents.
The property is described as a mixed-use three-level freehold property which "presents a range of owner occupier opportunities or alternative uses such as a multi-unit residential development, hostel or restaurant conversion."
Currently the ground and first floors offer a space suitable for commercial/office use with high ceilings and polished floor boards and given the heritage of the building would present an ideal opportunity for a creative office headquarters, said the agents.
The top floor provides separately accessed New York loft style residential accommodation with Harbour Bridge and City skyline views and on-site parking for four cars is included.
The property is being offered with vacant possession but has potential for multiple income streams with four separate tenancies. It goes to auction on 18 June.
</body></html>

Jane Flemming's mixed-use Balmain property to go under the hammer

<html><body>
The headquarters of one of WA’s oldest and most successful advertising agencies has hit the sales block.
The Marketforce building, at 1314 Hay Street in West Perth, is fully leased by the advertising agency until 2019 with further options. It returns a net income of more than $650,000 per annum.
The three storey building is being sold through Knight Frank.
Knight Frank director Tony Delich said: “This property offers significant upside in terms of both rental growth and future development options.”
“The current net rent is below $300 per square metre and has fixed annual increases for the term of the lease."
“From a redevelopment perspective the site is 1250 square metres with a plot ratio of 2:1 but this could be increased to 3:1 for residential and given an additional 20% bonus for short term accommodation.”
The building has close to 1,900 square metres of fully refurbished net lettable space and 37 undercover car bays, plus three open bays.
Offers to purchase close on May 22.
</body></html>

Marketforce's West Perth headquarters on sales block

New apartment developments with uninterrupted, north-facing views over Perth's Swan River are exceptionally rare.

Recognising just how limited those opportunities are, <a href="https://www.apartments.com.au/developers/edge-visionary-living">Edge Visionary Living</a>, one of Perth's most respected builder-developers, targeted <a href="https://www.apartments.com.au/developments/applecross-wa-6153">Applecross</a>, assembling an unrepeatable 6,342 sqm riverfront site on the corner of Moreau Mews and Canning Beach Road to create one of Perth's only new north-facing apartment developments directly overlooking the Swan River.

Today, <a href="https://www.apartments.com.au/buildings/riviere-residences-applecross-59-canning-beach-road-applecross-wa-6153">Rivière Residences</a> offers buyers a unique opportunity to choose between completed residences ready to move into now and off-the-plan homes in the final stage, Rivière West.

[smartcode_project:default project_id=28384 project_image_fid=3823]

Across the completed East and Central buildings, residents are already enjoying the development's luxury amenity, while two of the precinct's hospitality venues are now open.

The completed component of the development gives buyers the advantage of experiencing the finished product firsthand, including its uninterrupted river views, while still having the opportunity to secure a residence in the final stage.

"People are wowed by the view and the quality of the apartments,"&nbsp;Edge Visionary Living Sales Executive, Holly McSweeney, says.

"They're looking for the convenience of lock-and-leave living, but they're not looking to downsize on quality."

[smartcode_project:default project_id=28384 project_image_fid=3826]

The rarity of the development hasn't been lost on prospective buyers, McSweeney says.

For McSweeney, it all comes back to a location that is becoming increasingly difficult to replicate.

"Location, location, location," she says. "We are nestled right on the front of the Swan River. You can never get built out, so wherever you are in Rivière Residences, you've got views of the river forever."

The unique waterfront position has resonated particularly strongly with local downsizers. McSweeney says many buyers are long-time Applecross residents looking to transition from large family homes into a luxury apartment without sacrificing space, quality or the lifestyle they've enjoyed for decades.

<iframe allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" allowfullscreen="" frameborder="0" height="315" referrerpolicy="strict-origin-when-cross-origin" src="https://www.youtube.com/embed/N_FowNW0wu8?si=vb25XFq1wZ-iufAW" title="YouTube video player" width="560"></iframe>

A major focus for Edge in recent years has been resident amenity. Across its apartment portfolio, from beachfront developments in Scarborough to luxury towers in South Perth, the developer has increasingly invested in the spaces beyond the apartment itself.

The strategy has largely been shaped by downsizer demand. Many buyers are moving from large family homes with swimming pools and established gardens. While they're looking to leave the maintenance behind, they don't want to compromise on lifestyle.

At Rivière, <a href="https://www.apartments.com.au/architects/hillam-architects">Hillam Architects</a> designed the resident facilities as an extension of each apartment. A 25-metre heated swimming pool takes advantage of the north-facing river outlook, complemented by a large gym, sauna and steam rooms, private dining spaces, residents' lounges, a cinema, games room, and dedicated wine and whisky rooms.

[smartcode_project:default project_id=28384 project_image_fid=372542]

The waterfront location has also proved to be a major drawcard. Residents are within walking distance of the Raffles Hotel, South of Perth Yacht Club, the Heathcote Cultural Precinct and the cafés, restaurants and boutiques along Ardross Street.

Beyond the location and amenity, McSweeney says many buyers take confidence from Edge's fully integrated development model.

Having delivered apartments across Perth for decades, Edge now designs, develops and constructs its projects in-house, giving the company greater control over quality, delivery and the finished product.

"What I love is when people walk through their apartment for the first time and say, 'This is better than what we imagined,'" McSweeney says. "We hear that all the time."

Completed apartments in the East and Central buildings are now available to inspect by appointment, while Rivière West, the final stage of the precinct, is expected to be completed in the first quarter of 2027.

[smartcode_project_cta:default project_id=28384]

Joel Robinson

North-facing Swan River views drive demand at Rivière Residences in Applecross

Nearly 60 per cent of apartments at McNab Group's $220 million The Tannery development in Brisbane's West End have sold ahead of the project's public launch, including a suburb-record $2.57 million sale for a two-bedroom apartment.

The early sales campaign has secured buyers for 50 of the project's 87 apartments, highlighting continued demand for larger owner-occupier apartments that combine generous floorplans with premium lifestyle amenities in one of Brisbane's most tightly held inner-city suburbs.

[smartcode_project:default project_id=143337 project_image_fid=374768]

McNab Group Executive Chairman Michael McNab said selling more than half the project before launch reflected changing buyer expectations.

"Selling more than half the project before public sales open tells us buyers are actively seeking apartments that offer something genuinely different," McNab said.

"Today's buyers are looking beyond four walls. They want homes that genuinely enhance the way they live, with spaces that support health, connection and everyday wellbeing."

[smartcode_project:default project_id=143337 project_image_fid=374767]

A key point of difference for the project is the adaptive reuse of the heritage-listed Dixon's Tannery building, which will become The Retreat, a residents-only wellness precinct rather than being redeveloped into additional apartments.

The Retreat will feature a sauna and steam room, hot and cold plunge pools, a commercial-grade gym, Pilates studio, cinema, library, co-working spaces and private dining room. Rooftop amenities will include a swimming pool, landscaped gardens, outdoor entertaining areas and dog-friendly spaces.

[smartcode_project:default project_id=143337 project_image_fid=374760]

Designed by Cottee Parker Architects with interiors by Tom Mark Henry and landscape architecture by Aspect Studios, The Tannery comprises 87 two, three and four-bedroom apartments across 11 levels overlooking the Brisbane River.

Cottee Parker principal Dee Passenger said preserving the original tannery building had been central to the project's design.

"The easy option would have been to maximise the site's development potential with additional apartments. Instead, McNab has chosen to preserve the original tannery as a shared wellness retreat, ensuring this important piece of Brisbane's history remains at the heart of the community."

Passenger said sustainability also played a key role in the design, with materials from the original industrial site salvaged and repurposed throughout the development.

[smartcode_project:default project_id=143337 project_image_fid=374761]

Motiv CEO Carly Cottam said buyers had responded strongly to the combination of larger apartments, wellness facilities and the West End lifestyle.

"We are seeing more buyers looking for homes in the sky that provide the space and functionality of a traditional home, while benefiting from the convenience and lifestyle that apartment living brings," Cottam said.

She said purchasers included both owner occupiers and investors, with demand coming from local buyers as well as interstate purchasers.

Coinciding with the public launch, McNab also announced a partnership with Queensland Ballet, whose neighbouring Thomas Dixon Centre shares historical ties with the original Dixon family.

Located on a 4,465 sqm site at 439 Montague Road, The Tannery overlooks the Brisbane River and is around 10 minutes from the CBD.

Construction is underway, with completion expected in the second half of 2027.

[smartcode_project_cta:default project_id=143337]

More than half of residences sold before public sales as McNab announces significant partnership with Queensland Ballet

McNab's The Tannery nears 60 per cent sold before public release, sets two-bedroom West End record

Iwan Sunito's vision for a landmark mixed-use precinct in Sydney's Inner West has taken a major step forward, with approval granted for the $1.9 billion Five Dock development first unveiled earlier this year.

The approved scheme by <a href="https://www.apartments.com.au/developers/one-global-capital">One Global Capital</a> will deliver an 80,500 sqm mixed-use precinct comprising 840 apartments, integrated hotel accommodation, commercial and retail space, alongside publicly accessible open space designed to create a new destination for the growing suburb.

"This is a significant milestone for One Global Capital and for the future of housing delivery in Sydney," Sunito said.

"The Housing Delivery Authority was established to identify major housing projects capable of delivering meaningful supply more efficiently, and we are delighted that Spencer Street has been recognised as one of those projects.”

He said the declaration reflected the rapid progress achieved since acquiring control of the site.

"In less than seven months we have progressed from taking control of the site to securing entry into one of the NSW Government's most important planning pathways. It reflects the experience of our team, the strength of our consultant group led by Urbis, and our long-term commitment to delivering transformational projects that contribute to Sydney's future."

When the project was revealed earlier this year, Sunito described the opportunity as one of the strongest development sites he had worked on.

"I probably hadn't appreciated the uniqueness of the site until more recently when putting together the concept plans," Sunito said.

"The proximity to the water, and the golf course opposite, is unlike any other part of Parramatta Road. We have a unique position and view corridors over the water that makes this one of the best sites I've worked on."

The development has evolved since its initial announcement, with the approved plans increasing the residential component from the originally proposed 750 apartments to 840 homes while retaining the project's focus on creating an integrated neighbourhood rather than a standalone residential development.

Read more:&nbsp;<a href="https://www.apartments.com.au/news/nsw/a-city-within-a-city-iwan-sunito-flags-1-5-billion-mixed-use-precinct-in-five-dock">"A city within a city": Iwan Sunito flags $1.5 billion mixed-use precinct in Five Dock</a>

The precinct will combine apartments with hotel accommodation, commercial workplaces, retail offerings and public spaces, creating a mixed-use environment intended to serve both residents and the broader Five Dock community. The proposal also continues the collaboration between One Global Capital and internationally recognised architect <a href="https://www.apartments.com.au/architects/koichi-takada-architects">Koichi Takada</a>, whose previous work with Sunito includes Infinity, Arc and Skye North Sydney.

Takada previously said the design was driven by a philosophy of integrating nature into the built environment.

"The concept for this development is born from our design approach to naturalising architecture," Takada said.

"The public realm benefits from biophilic design that integrates generous landscaping, and the development is optimised for natural daylight, airflow and water views to foster wellbeing, sustainability and spaces that foster community interaction."

Sunito has consistently described the project as a "city within a city", with a strong emphasis on creating a destination that extends beyond housing.

"We want to create a development that's not only to be seen, but to be experienced by the whole local community," he said.

The approval comes as Five Dock continues its transformation ahead of the opening of the Sydney Metro West line, with the new Five Dock station set to significantly improve connections between the Inner West, Parramatta and the Sydney CBD.&nbsp;

The precinct will also benefit from its proximity to the Parramatta Road corridor, nearby waterfront parklands and established retail and dining offerings that have made Five Dock one of Sydney's most tightly held Inner West suburbs.

Iwan Sunito secures approval for $1.9 billion Five Dock mixed-use precinct

The new <a href="https://www.apartments.com.au/new-apartments/yarraville-green-42-stephen-street-yarraville-vic-3013">Yarraville Green</a> development in Melbourne's inner west is showing that landscaping can be just as influential as architecture, with buyers responding strongly to the garden-first approach adopted from the outset by developer Excelon Projects and the project's design team.

Excelon appointed Six Degrees Architects and landscape architects SBLA to work collaboratively on the development, with a brief to create "a sustainable, design-led building with a focus on community."

That approach has resonated with buyers. According to Next Chapter Director Tom Hirini, who is leading the sales campaign, the landscaped communal garden has become one of the project's defining features, alongside its boutique scale and European-inspired cluster housing concept.

Local downsizers, right-sizers and established families already living in Yarraville and surrounding suburbs have accounted for the majority of purchasers.

[smartcode_project:default project_id=144913 project_image_fid=297740]

Yarraville Green will comprise 53 homes, including apartments and townhomes, arranged around the shared central garden to maximise connections to the landscaped open space. Parking has been moved underground, allowing the ground plane to be dedicated to greenery, pedestrian movement and communal spaces.

The landscape extends well beyond passive planting. Productive garden beds, a pergola, communal gathering spaces, garden sheds and a pet wash have all been integrated into the masterplan, creating spaces designed to encourage everyday interaction between residents.

[smartcode_project:default project_id=144913 project_image_fid=297741]

The interiors continue Excelon's focus on craftsmanship, incorporating bespoke elements by Melbourne artisans including leadlight detailing by Adadaz, hand-turned timber hardware by Auburn Woodturning and blown-glass lighting by Ruth Allen.

Sustainability has also been embedded throughout the project, with Yarraville Green targeting an average 7-star NatHERS energy rating through passive design principles, rooftop solar servicing common areas and rainwater harvesting for landscape irrigation.

[smartcode_project:default project_id=144913 project_image_fid=297735]

Construction continues to progress at Yarraville Green, with structural works well underway and framing works approaching completion under builder Balmain &amp; Co. The project remains on track for completion in mid-2027.

Apartments at Yarraville Green are currently priced from $625,000, while townhomes start from $1.4 million.

[smartcode_project_cta:default project_id=144913]

Garden-led design drives buyer demand at Yarraville Green

National diversified developer Fortis has officially launched Crest &amp; Walker, its latest Brisbane apartment development, with construction now underway on the 20-storey Newstead project.

Award-winning builder BINAH has commenced construction on the Bureau^Proberts-designed building, which will deliver a limited collection of 65 two and three-bedroom apartments on Kyabra Street.

[smartcode_project:default project_id=145922 project_image_fid=373556]

The project marks Fortis' fourth active residential development in Brisbane, following River House, which is nearing completion, alongside projects in New Farm and Hamilton as the national developer continues to expand its South East Queensland pipeline.

Fortis General Manager – Development Queensland Dan Boman said Crest &amp; Walker reflects the developer's long-term commitment to delivering design-led residential projects in Brisbane's established inner-city suburbs.

"We're proud to be strengthening our presence in Brisbane with Crest &amp; Walker, particularly in such a sought-after lifestyle destination as Newstead," Boman said.

"Every Fortis project is shaped by its context, and we approach each one with the respect and care it deserves.

"Our focus is always on creating places that feel connected to their neighbourhood and elevate the everyday experience for residents. Newstead continues to evolve as one of Brisbane's most sought-after urban communities, and Crest &amp; Walker reflects our ambition to contribute meaningfully to that story."

[smartcode_project:default project_id=145922 project_image_fid=373559]

Positioned between Gasworks Plaza and James Street, <a href="https://www.apartments.com.au/new-apartments/crest-walker-newstead-12-kyabra-street-newstead-qld-4006">Crest &amp; Walker</a> has been designed as a boutique residential address offering privacy and generous living spaces within one of Brisbane's most established lifestyle precincts.

The building features a contemporary brick podium softened by integrated landscaping, while the upper levels are characterised by restrained architecture and enduring materiality. Interiors have been designed to maximise natural light, acoustic performance and long-term liveability.

[smartcode_project:default project_id=145922 project_image_fid=373583]

Residences comprise spacious two and three-bedroom floorplans, with two-bedroom apartments priced from $1.55 million and three-bedroom, half-floor residences from $3.95 million.

Residents will have access to a wellness-focused rooftop featuring a swimming pool, sauna, steam room, landscaped dining spaces and outdoor lounge areas overlooking Newstead and the Brisbane CBD.

[smartcode_project:default project_id=145922 project_image_fid=373571]

Sales are being managed by Slaite Projects, with Fortis expecting strong demand from owner-occupiers seeking a high-quality, design-focused apartment in one of Brisbane's most tightly held inner-city suburbs.

Completion of Crest &amp; Walker is slated for late 2028.

[smartcode_project_cta:default project_id=145922]

Katherine Jimenez

Editor's Picks

Have something to contribute?

Developments

New apartments

New townhouses

News