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South Australian law firm Mellor Olsson has signed a six year lease at 80 King William Street in Adelaide's CBD. 
The lease is over two entire levels of office space, equating to 1,432 square metres.
CBRE’s Andrew Bahr negotiated the lease deal on behalf of lessor 80 KWS Investments Pty Ltd. 
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Mellor Olsson lease two floors of King Street, Adelaide office

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A logistics company has secured 80 square metres of office space at Cannon Hill in the Australian Trade Coast precinct in Brisbane’s east.
APL Pty Ltd has signed a 2+1 year lease, at 4/1155 Wynnum Road, on a gross rental of $32,800 per annum plus GST and outgoings.
Rhiannon Jones of Ray White Commercial Brisbane Trade Coast negotiated the lease.
Jones said: "This property offers 80 square metres of office space including a reception area and a boardroom on the first floor of a prominently located building."
Jones also leased an adjoining 60 square metres office for three years, at a gross rental of $25,500 per annum. The lease starts in August. 
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Logistics firm sign Cannon Hill, Brisbane lease

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Axios IT has leased a 327 square metre office suite in the heart of Adelaide's CBD. 
The firm has committed to a three-year term, at 44 Currie Street, on a rental of $375 per square metre gross.
The lessor of the B-grade office suite is South Australian architecture firm Hartect Pty Ltd.
CBRE’s Michael Pfitzner negotiated the leasing. 
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Axios IT lease Adelaide CBD office space

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Retailer, developers and owner occupiers are tipped to line up for the sale of a large retail super site in Melbourne's surf coast town of Torquay, which expected to sell for more than $8 million plus. 
Located on Surf Coast Highway, the super site forms Stage 3 of the West Coast Business Park in Torquay.
It is anchored by Bunnings Warehouse, with the retail component complemented by 43 commercial and industrial lots.
Colliers International’s Tom Noonan and Andrew Lewis, in conjunction with DTZ Australia’s Nicholas Bourke and Patrick O’Callaghan, have been appointed to sell a 4.9 hectare property.
<img src="/images/2014/05/07/3.jpg" alt="">
Shell Coles Express and a car wash are pre-committed to the development and will take about 5,600 square metres at the southern end of the site.
“Having two pre-sales contracts to both Shell Coles Express and the car wash provide the eventual purchaser with certainty of income once the construction commences as well as providing a strong anchor for this final stage,” Mr Noonan said.
The development sits opposite the site of the new $26.5 million Torquay Secondary School and $44 million Surf Coast Civic &amp; Community Centre.
Recent sales in the area included the sale of a Bunnings Warehouse on Beacon Boulevard in Torquay for $11.2million, while Coles snapped up the Torquay Central Shopping Centre at 41 Bristol Road for $14 million.
Expressions of interest close June 12. 
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Torquay retail super site expected to fetch $8 million plus

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Two freehold hotels in the Bowen region in central coastal Queensland have been listed for sale.
The two hotels - The Denison Hotel, at 55 Powell Street, Bowen, and the Merinda Village Hotel, at 13 Linley Street, Merinda (pictured above) are being offered for sale individually or in one line. 
The hotels are being offered through Leon Alaban and Sean Dollar of Ray White Hotels Australia.
“The owners of the respective hotels believe in the region and its growth potential and would also consider joint venture partners”, said Mr Alaban.
Rebuilt in 1984 after being destroyed by fire, The Denison Hotel sits on a site area of about 3,052 square metres and features a lounge bar, nightclub and a gaming room with 40 EGMs. It also has a drive through bottle shop, a commercial kitchen, storage and office areas.
"The hotel, one of the best performing in the region, also operates a detached bottle shop in the Woolworths and Target Country anchored shopping centre”, he added.
Located some 8km north of Bowen, the Merinda Village Hotel, has asite area of about 12,628 square metres, had a QHA award-winning $6 million refurbishment completed in 2010. It consists of a public bar, bistro and TAB and features a high quality purpose built function and conference centre.
“The site has 48 accommodation rooms and there is a current development approval in place for an additional 96 units plus a 12 room motel", add Mr Dollar.
“The vendor will also consider all genuine offers on a joint venture scenario.”
Expressions of interest must close 28 May. 
Photo courtesy of Facebook.
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Two Bowen, Queensland freehold hotels listed for sale

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The groundwork is being set for a recovery in the retail market in second half of the year, with rents holding steady in the March quarter.
New figures released by JLL showed that retail rents stabilised for the second quarter in a row, having declined by 0.4% over the prior 12 months.
JLL’s head of retail, property and asset management, Tony Doherty, said: “JLL Research figures for March show market rents were stable across the main shopping centre categories for the second consecutive quarter despite the recent acceleration in retail turnover growth."
Data from the Australian Bureau Statistics showed that retail turnover growth accelerated from 3% last September to 4.9% in February. That uplift in spending, Mr Doherty pointed out was consistent with what it was seeing across the JLL-managed shopping centre portfolio.
JLL’s national retail analyst, Andrew Quillfeldt added that the acceleration in retail sales growth had now been underway for the past six months and "this will flow through to leasing demand after the usual time lag".
“Containing costs and managing the effects of discounting remain key challenges for many retailers, so we expect there to be limited rental growth in 2014, but the outlook beyond 2014 is becoming increasingly positive for the retail sector," he said.
A range of drivers such as retail turnover growth, household wealth and employment conditions, he said suggested leasing demand for retail space would gradually improve this year and "we are positive about the outlook for market conditions".
The report also highlighted that landlords and retailers are building for a recovery.
Specifically, it notes that total volume of projects under construction has been gradually increasing since 2009. Based on JLL's numbers, there were 881,000 square metres of retail floor space under construction as at Q1/2014.
In terms of the composition of the development pipeline of projects currently under construction, Mr Doherty said, the expansion of regional centres remained the largest share (32%). Neighbourhood centres accounted for 19% and bulky goods category killer centres 25%.
A further 175,000 square metres began construction in Q1/2014.
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Retail set for recovery in second half of the year: JLL

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GUEST OBSERVATION
Recently, we’ve been treated to quite a few new, international entrants to the fashion game who’ve come to our shores, the likes of Zara, Uniqlo, H&amp;M, Topshop, Forever New et al; the reality is, that’s only the start of it; it’s the first wave as it were; there’s more to come. Their trading figures are outstanding; in short they’re creaming it!
And the reason? Is it merely the market’s fascination with anything foreign? The conception (or misconception), that if it comes from overseas it’s better? Or is it simply that it’s ‘new’, and when it comes to fashion, ‘new’ is about as good as it gets?
The ‘die hard stick in the muds’ will vehemently agree with one or all of the above; it’s always easier to blame something or someone else rather than taking it yourself. The truth is that these retailers are taking huge chunks of the market share from our traditional, home grown contingent, because they’re better retailers.
Retail goes in cycles. In Australia before the 1950s, the challenge was to get stock; if you could get it you could sell it. Great retailers became skilled at importing, at sourcing, even at manufacturing; they rose to the challenge and their success was legendary; names like David Jones, Anthony Hordern, Sydney Myer, Thomas Ahern, the Grace Brothers and countless others had built empires by the 1950s.
By the 1960s, the game had changed. Relatively speaking, sourcing stock wasn’t a problem but the public was tiring of same old, same old. They wanted new stuff and variety; they wanted choice; great retailers again rose to the challenge. The first Coles and Woolworths supermarkets came on the scene; Dick Smith opened his first store in Artarmon with less than $1,000 capital; the first Kmart in Australia opened as did the first Pizzeria.
By the 1970’s the challenge was distribution, retail systems, and sophistication in retail management. Craig Kimberley founded Just Jeans and grew it exponentially as he demonstrated that people wearing blue jeans could talk with business managers, accountants and bankers on an equal footing. Retail legends (and soon to become property investment legends) like John Gandel and Marc Beson of Sussans, Joseph Brender and Sam Moss of Katies and a host of others showed the investment and banking world that the term ‘frock shops’ didn’t describe their operations as they became some of the most powerful and influential business tycoons of the decade.
By the time the 1980s were in full swing, shopping centres were the order of the day (they’d arrived in the 1950s but hadn’t really got going until the mid ‘60s) and shop design, fit-outs, merchandise presentation, new labels, extremely sophisticated marketing, celebrity power, all took on new meanings. Consumer spending on a scale not seen before was the order of the day and the competition for it was fierce. Retailers were on a knife-edge, rents were spiralling; the need for efficiency was fundamental. Australian specialty retailers, when measured on a scale of turnover per square metre (or square foot as was in those days) were the best performing in the world.
You could go on, right up to around 2000 to 2005 when the wheels started to fall off.
Australian retail in the last decade or so hasn’t done very much; it’s stagnated somewhat. The challenges have been there but the retailers (unlike their forebears) have failed to rise.
Take the big boys for example. David Jones is pretty tired these days; service is atrocious, merchandising is behind the times and the ‘same old, same old’ is alive and well once again. Try getting attention in David Jones on a Saturday in the bedding department; and it’s not the fault of the staff, they’re flat out, there just aren’t enough of them. In the menswear department, the fitting rooms are like hen cages and go in after mid-day and the body odours are obnoxious. It’s just not a store for quality and service. And what does a marquee at Randwick Racecourse do for sales? I wonder how many extra staff in the bedding department could be paid with that expense.
We’ve just had the royals out; did they go into David Jones? In 1954 when the Queen came to Sydney, she had a state banquet in the DJ restaurant! OK, times were different then; but the royals we’ve just had weren’t the Queen; they were lower down so that evens it up!
Myer is travelling a bit better but it’s not crash hot either; DJ’s new owners will give them a real run for their money.
In the specialty stakes what’s new? Take out the foreign retailers and the answer is, ‘not much’.
There are exceptions. Harolds, the menswear operation is top notch; the service is exemplary and the presentation of the merchandise and the shop itself are world class. Guess what? They are trading! Been to Apple lately – now that’s service. Gerry Harvey is complaining as always, but he’s making a profit; he’s a great retailer and he’s never forgotten the basics. JB HiFi is another classic exception, a great retailer doing it properly.
The most interesting feature of the new brand of international retailers becomes apparent when you look at exactly what it is they are doing; analyse it and its illuminating; they’re just paying attention to the fundamentals of retail.
Their shops are attractive; people like the new large formats for a start. No difference at all to when Country Road announced some twenty years ago that it required larger stores. It was difficult; they were trail blazing; landlords objected. Country Road persisted and finally won out. They compromised a little on ‘extent’ and shopping centre owners compromised on ‘rates’; simple market forces.
So it’s larger formats, attractive shops and very fresh ideas in fit-outs. It’s also better service, better pricing and a wider variety. It’s also value for money (or a perception of) and a healthy respect for the market as well as a well-researched and intuitive knowledge of it. It’s packaging, advertising, marketing and image creation. It’s dealing with the new communication world, influencing it and being an integral part of it. In other words, it’s adhering to the basics of retail. It’s not rocket science; it’s just about buying and selling stuff!
For the last decade or so, the vast majority of Australian retailers have treaded water; the nonsense talked about the global financial crises, the threat of the internet, the power of the landlords and whatever else they come up with shows a marked move towards finding excuses rather than rising to challenges.
Good retailers will always do well. In order to do well, you need to stick to the knitting, focus on the fundamentals. If you want another opinion, ask Joseph Brender, Sam Moss, John Gandel, Marc Beson, Craig Kimberley, Dick Smith……………
Michael Lloyd is publisher of <a href="https://shoppingcentrenews.com.au/" target="_blank">Shopping Centre News</a>.
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Retailers need to stick to the fundamentals

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Agent: Andrew Fife <img src="/images/2014/05/05/fife-may-5-breakout.jpg" alt="" style="float: right;">
Position: Industrial sales and leasing executive
Company: Colliers International
Office location: Perth
How long have you been in the industry?
Six years.
What’s happening in the area you specialise in?
We are seeing a correction in the market as a result of more stock, both for sale and for lease, becoming available.  Leasing is steady and deals are still being done with some incentives creeping into offers, but this is coming off an incentive base of nil. The sales sector is still being dominated by the owner-occupier market, as most properties are being offered for sale with vacant possession. Enquiry is very solid for investment-grade stock.
Describe the most interesting property you have sold?
Probably an irregular-shaped parcel of land which was directly under the flight path of approximately one commercial plane every 15 minutes. The planes flew directly overhead and so close to the property we had to wear ear plugs during inspections.
What are the ingredients to being successful in your job?
Doing the basics right all the time – managing relationships with existing clients, but always looking to develop new relationships to instigate new business. Delivering on what you say, understanding the market and your client’s needs. 
What aspects of your role do you enjoy the most?
Doing deals, but also delivering a result where you can see the client is pleased with what you have been able to achieve.
Where would you invest a spare $750,000?
I’d give it to PrimeWest – a property syndicator.
Which football team do you support?
West Coast.
What’s your favourite app or techno gadget? 
Footy Live
How do you use social media?
<a href="https://www.propertyobserver.com.au/https://au.linkedin.com/pub/andrew-fife/64/812/856" target="_blank">LinkedIn</a> to see what shenanigans Shane Warne is up to.
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In profile: Colliers International's industrial sales and leasing executive, Andrew Fife

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Lend Lease will begin its largest commercial tower in its $6 billion Sydney's Barangaroo South project with a pre-commitment from two cornerstone tenants -  PricewaterhouseCoopers Australia and HSBC Bank Australia. 
In a statement to the ASX, Lend Lease said it should be as an anchor tenant of Tower 1, PwC has entered into an agreement to take 26,500 square metres or  12 floors in the 49-storey building. HSBC has signed heads of term for the bank to take 8,000 square metres of space or 3.5 floors in the building.
Lend Lease will commence the development and funding of 100% of the building, known as Tower 1 of International Towers Sydney, via existing capital sources. It intends to introduce co-investors into Tower 1 at an appropriate time in the future.
Lend Lease Group chief executive, Steve McCann, said "prior to today’s announcement, we were already ahead of where we expected to be at this stage of the evolution of the Barangaroo South precinct, with two towers 77% leased and under construction, and the first two apartment buildings sold".
As part of its announcement, the listed property group said it had entered into an agreement to reduce its co- investment in Lend Lease International Towers Sydney Trust (LLITST) from 25% to 15% via a sale to international pension fund APG. 
Following completion of the sale of the 10 per cent interest, Lend Lease’s equity commitment to LLITST will reduce from $500 million to $300 million.
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Lend Lease secure two cornerstone tenants for $6 billion Barangaroo South tower

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One of Australia's most exclusive bridal wear designers, Mariana Hardwick, has put the ground floor salon and first floor of her landmark Hardwick Building in Melbourne's Brunswick up for auction next month. 
Up for grabs is a ground floor bridal salon of about 375 square metres, a first floor atelier plus additional office spaces of around 875 square metre and air rights for a total of about 1,250 square metres.
The sale also includes Lot N, which is about 950 square metres and is located above the first floor of the main buildings. The inclusion of that lot, said selling agents Fitzroys, provided the purchaser with the opportunity to undertake further development in the future (STCA). 
The property is offered subject to a long lease over 1,065 square metres of the ground floor and first floor to Mariana Hardwick, potentially until 2032. The lease structure is 5+7+7 years from 1 August 2013.
Around 135 square metres of the first floor is leased to typographic studio Letterbox on a five year deal starting on 15 October 2013.
The current combine returned rental is estimated at $250,000.
The property will go under the hammer on 16 May through Fitzroys agent James Gregson.  
The history of the two-level building stretches back until 1907 when it began as the Hoopers Drapers store. After a succession of owners including Waltons and Spotlight, Mariana Hardwick acquired the Hoopers Building in 2005 as a new location for her salon. 
Gregson described property as a "high yielding investment" which was expected to return about 8-9% to the purchaser.
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Brunswick ground floor salon of designer Mariana Hardwick on the auction block

Melbourne developer Spacious Group has completed Voyage Altona, one of the closest new apartment developments to Altona Beach.

Off the plan purchasers have started moving into the 49-apartment project on Pier Street, with the remaining move-in-ready one-, two- and three-bedroom apartments starting from just over $500,000.

Display apartments have now been fitted out, allowing prospective buyers to inspect the completed residences by appointment.

[smartcode_project:default project_id=112195 project_image_fid=372638]

The completed apartments feature open-plan living and dining areas which extend onto private balconies and terraces, while full-height glazing maximises natural light throughout the interiors.&nbsp;

Hybrid timber-look flooring, stone benchtops, Miele appliances, porcelain-tiled bathrooms and generous storage feature throughout the building which also features landscaped communal areas, expansive shared terraces, lift access and secure on-grade parking.

Drawing inspiration from its bayside setting, Voyage adopts a restrained palette of warm neutral tones and textured finishes. Many of the apartments take advantage of views across Port Phillip Bay, while the indoor-outdoor living spaces have been designed to make the most of the coastal outlook.

[smartcode_project:default project_id=112195 project_image_fid=3286]

Voyage was developed to address what Spacious Group identified as an undersupply of higher-quality apartment product in Altona, with a focus on owner-occupiers looking to remain within the bayside community.

"Voyage responds to very strong local buyer demand for quality, owner-occupier-focused product," says Barry Plant Projects Director Jarrod Farey, who has handled sales since the project's launch.

"The project delivers an elevated lifestyle proposition, with its design and quality of finish far exceeding anything previously produced in the area, as well as its proximity to Pier Street Village and the beach."

The majority of purchasers have been local downsizers and owner-occupiers looking to stay within the Altona community but who previously had limited opportunities to buy a brand-new apartment.

[smartcode_project_cta:default project_id=112195]

Joel Robinson

Spacious Group completes Voyage Altona in Altona's beachside precinct

Homecorp has secured approval for a $360 million apartment development at Budds Beach, paving the way for one of the Gold Coast's most amenity-rich residential projects to launch later this year.

Gold Coast City Council has approved Lýon Residences, a 32-level tower that will deliver 178 two and three-bedroom apartments across a prominent corner site at 8-10 Acacia Avenue and 25-27 Oak Avenue.

The approval comes as developers continue to invest in premium lifestyle-driven apartment projects on the Gold Coast, where owner occupiers are increasingly prioritising amenity as much as apartment size and location.

<a href="https://www.apartments.com.au/new-apartments/l-on-residences-25-27-oak-avenue-surfers-paradise-qld-4217">Lýon Residences</a> has been designed around a resort-style wellness offering, headlined by a Moroccan-inspired spa precinct featuring treatment rooms, a Nordic sauna and steam room, hot and cold plunge pools, a soaking pool and a residents-only juice bar.

The rooftop will include a heated infinity pool and spa, residents' lounge with private kitchen and bar, gymnasium, yoga and Pilates studio, outdoor entertaining areas and barbecue facilities overlooking the Surfers Paradise skyline.

<img alt="Lyon" data-entity-type="file" data-entity-uuid="2d3e29af-8793-486e-a684-52cef862241f" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-07-15%20at%204.32.26%E2%80%AFPM.png?VersionId=ayG2zpLf3SS6Zy8XmKDcQods4kVWb0gm" />

Homecorp Founder and CEO Ron Bakir said Budds Beach provided the ideal location for the company's latest luxury apartment project.

"Budds Beach represents one of the most unique and sought-after pockets of the Gold Coast, and Lýon Residences has been designed to reflect that sense of rarity and refinement," Bakir said.

The project arrives as wellness continues to become a defining feature of new residential developments both in Australia and internationally.

The latest Global Wellness Institute figures show wellness real estate remains the fastest-growing segment of the global wellness economy and is forecast to exceed $1.8 trillion by 2030. Australia continues to rank among the world's 15 largest wellness real estate markets, with developers increasingly integrating health, recreation and community facilities into apartment projects.

Queensland is also experiencing strong population growth, with the Gold Coast continuing to outperform many other Australian cities as demand for new housing remains elevated ahead of the 2032 Olympic and Paralympic Games.

Bakir said the project had been designed to respond to that shift in buyer expectations.

"Strong population growth and sustained demand across the Gold Coast continue to highlight the need for well-designed new housing supply. Lýon Residences responds directly to this demand while setting a new benchmark for residential living," he said.

Each apartment has been designed to maximise views across the coastline, the Nerang River and the Gold Coast hinterland.

Located just minutes from Surfers Paradise beach and the Broadwater, the development also offers easy access to the light rail network, Broadbeach and Burleigh Heads.

Early site works are underway, with construction expected to commence later this year.

Homecorp approved for Budds Beach apartment tower, Lýon Residences

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]

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.

Katherine Jimenez

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