<html><body>
Parramatta's reign as a mecca for attracting the public service sector is set to be tested, as Sydney’s largest suburban market battles with a dated stock profile and low future office supply.
A new research paper from Jones Lang LaSalle, “Parramatta – Reversing the prime-grade office slide”, described the suburban office sector as reaching a "critical point” with low future supply and an ageing stock profile. It cautioned that in "this public-sector dominated office market requiring strong sustainability benchmarks, there is an increased risk of flight from existing government tenants.”
Jones Lang LaSalle’s director of Parramatta and metropolitan office leasing William Tong said many government tenants were locked into long-term lease agreements, which had kept contiguous floor space scarce.
"This has acted as a smoke-screen for a low-demand environment, dampened by a lack of modern supply that would attract new tenants to Parramatta", he said.
To offset this increased risk of flight from government tenants, the research paper suggests that the best and fastest way to rejuvenate the Parramatta office precinct is to refurbish secondary grade assets.
Mr Tong said with new NSW Government environmental benchmarks in place for all government accommodation, Parramatta’s public sector-dominated office market needed to modernise or face the consequences in the future.
Assuming government leases from the 90s and 2000s were under 10-year lease expiries, he says, "there’s currently significantly elevated flight risk for a government tenanted, secondary-grade landlord".
JLL estimates there are 31 office properties within the Parramatta CBD that house at least one NSW state government tenant. Of those, it says, 22 buildings were considered secondary grade.
“It is critical for landlords to invest capital into their assets to improve their environmental credentials, as well as overall occupier amenity," said Mr Tong.
</body></html>

kjiminez-eaYKfU7qd2

Parramatta faces challenges to public service office reign

<html><body>
The strong march of Australia's metropolitan markets has continued, particularly in Sydney and Brisbane which have experience solid supply growth, tenant demand and investor interest.
New research prepared by Colliers International, examining the CBD and metropolitan office markets, found that while Australia’s CBD's still contain the majority of the country’s office space, the metropolitan markets represent "a large and growing proportion".
<img src="/images/stories/2013/10/08/CHART_OF_THE_WEEK_OCT_9.png" width="470" height="269" alt="CHART_OF_THE_WEEK_OCT_9">
Cities monitored as part of the "Metropolitan Office Research &amp; Forecast Report"  – Sydney, Melbourne, Brisbane and Adelaide – had  a combined total of almost 10.5 million square metres of office space in their metropolitan markets. In contrast, those four capital city CBDs had 12.8 million square metres of office space.
The Colliers report showed that the Sydney and Brisbane metro markets have seen significant growth in net lettable area (NLA) over the past 10 years, growing by 79% and 62% respectively. Sydney's metro market is now bigger than the CBD market.
The metro markets of Melbourne and Adelaide have seen respective NLA growth of 24% and 14%, and have been outperformed by their CBD markets.
Going forward, Colliers expects urban regeneration precincts and those with solid public transport access will continue to offer best prospects for growth.
Parramatta and North Sydney in NSW and the Northshore Hamilton precinct in Queensland were identified as areas to watch.
Melbourne's  Fishermans Bend precinct - a 240 hectare precinct on the edge of the CBD that had  recently been rezoned to capital city use, was another hub potentially with good prospects.
Whilst planning for the precinct was in its very early stages, it said, the Victorian State Government had  plans for up to 40,000 jobs in the area.
"Even if only half of these jobs are office-based, as many are expected to be retail, this equates to around 280,000sq m of office development in the area – that’s more than three Rialto towers, " Colliers said.
Another key finding of the report was the increasing number of local institutions are shifting their investment focus away from traditional CBD office markets to metro markets.
Colliers managing director of capital markets and investment services,  John Marasco noted that while the focus of the major domestic and offshore pension and sovereign wealth funds continued to be on CBDs, "other listed and unlisted institutions will create funds specifically to target metropolitan office markets, as their capital looks for new and expanded markets".
“A number of major Australian institutions are believed to be creating these kind of funds as they seek to diversify their portfolios and target higher yielding assets.”
</body></html>

Metro office markets continue strong growth: Colliers

<html><body>
<img style="max-width: 480px; display: block; margin-left: auto; margin-right: auto;" alt="jll_logo" height="114" width="200" src="/images/stories/2013/09/23/jll_logo.jpg"><img style="max-width: 480px; float: right;" alt="brendan-delahunty-profile" height="178" width="136" src="/images/stories/2013/10/08/brendan-delahunty-profile.png">
Agent: Brendan Delahunty
Position: Senior negotiator, industrial
Company: Jones Lang LaSalle
Office Location: Brisbane
How long have you been in the industry?
I have worked in commercial agency for approximately nine years.

What’s happening in the area you specialise in?

The Australia TradeCoast (ATC) is the precinct where I’m predominately focused.  It is an area that ticks a lot of the boxes industrial users are  seeking particularly in regards to location, as it offers a large amount of transport efficiencies which can reduce the overall cost of running a warehouse.  As businesses continue to focus on the ability to control and minimize freight costs through the location of their warehouse, the precinct receives increasing levels of interest. 

Over the past few years the area has benefited greatly from a number of major road infrastructure upgrades including the duplication of the Gateway Bridge and the completion of the Airport Link Tunnel as well as improvements to the Gateway Motorway and the Port of Brisbane Motorway.

Describe the most interesting property you have sold
I recently worked on the sale of a large investment in Hemmant where the purchaser had a innovative approach to unlocking the potential upside to the property.  It is always interesting to work with clients who have a new approach to their investment. 

What are the ingredients to being successful in your job? 
The key ingredients are systems and time management.  You need to develop good work systems to be able to work efficiently and enable you to spend the maximum amount of time with your clients. 
  
What aspects of your role do you enjoy the most?
The interaction with a wide range of people.  Working in industrial property you cover a very broad range of businesses and with that comes a diverse range of people and a lot of interesting stories behind them.  
Where would you invest a spare $750,000?
Obviously into industrial property, as this is an asset I believe offers a strong risk/return investment proposition particularly in the current market.  For a property in the $750,000 range I would look at anything freestanding in the TradeCoast or adjoining the Brisbane Airport.   
Which football team do you support?
The Queensland Reds. 
What’s your favourite app or techno gadget?
I like reading current affairs so I have quite a few news apps like the AFR and The Wall Street Journal. 

How do you use social media?
I am a big fan of <a href="https://au.linkedin.com/in/brendandelahunty" target="_blank">LinkedIn</a>, but that is about the extent of my social media.
</body></html>

In profile: Jones Lang LaSalle's senior negotiator, industrial, Brendan Delahunty

<html><body>
One of Melbourne's most renowned buildings is up for sale. Investors are being offered a rare opportunity to buy the Prahran Post Office in Prahran, which has been listed for sale with price expectations of about $10 million.
Located in one of Melbourne’s most sought after boutique shopping strips, the <a target="_blank" href="https://cbre.realcommercial.com.au/property-retail-vic-prahran-500879895" x-apple-data-detectors="true" x-apple-data-detectors-result="19">168 Greville Street</a> property, is a combined retail and office building over three levels. The total building area is 1,890 square metres.
The property is expected to attract strong interest from private investors and self-managed super funds.
CBRE's Josh Rutman, Tom Tuxworth and Mark Wizel have been appointed exclusive marketing agents.
Mr Rutman described the property as a "trophy passive holding"', highlighting that the building is fully leased. Among the tenants in the building is renowned Italian restaurant Zucca Rossa. 
Expressions of interest close on 25 October. 
</body></html>

Prahran Post Office on the block with $10 million expectations

<html><body>
A large industrial site in Melbourne's western suburb of Altona has fetched $3.62 million 
The 34,510 square metre parcel of industrial land,  at 44-58 Marshall Road, was purchased by an owner occupier/builder, who is looking to construct a large scale warehouse, providing jobs for the local community.
The price represented a sale rate of $105 per square metre.
“This successful sales result suggests that the Western Suburbs of Melbourne have rebounded from the subdued economic conditions experienced in recent years,” said DTZ Associate director of industrial, Mr Rob Mirabello.
“We are witnessing an increase in demand for development sites in Melbourne’s West as businesses are now realising the value of the area with sophisticated road infrastructure in place and a strong, readily available labour force.”
</body></html>

Altona industrial site fetches $3.62 million

<html><body>
Hills Holdings has sold its office and warehouse complex in Sydney's Riverwood for $9.7 million. 
A private investor/owner occupier purchased the industrial complex, at 8-12 Wiggs Road. 
The complex sits on a building area of 8,902 square metres, over six separate buildings on a large land parcel of 2.18 hectares. It includes six buildings comprising of a 3,220 square metre warehouse, a 2,330 square metre office/warehouse, a 1,054 square metre office/warehouse, a 1,195 square metre office, an 809 square metre office/warehouse and a 291 square metre warehouse.
<a href="https://www.realcommercial.com.au/property-industrial+warehouse-nsw-riverwood-500795891" target="_blank">8 Wiggs Road, Riverwood</a>
{yoogallery src=[images/stories/2013/10/02/riv]}
 
<a href="https://www.realcommercial.com.au/property-industrial+warehouse-nsw-riverwood-500795887" target="_blank">10-12 Wiggs Road, Riverswood</a>
{yoogallery src=[images/stories/2013/10/02/riv2]}
 
Paul Mileto and Eugene Evgenikos of Knight Frank negotiated the deal.
</body></html>

Hills Holdings let go of Riverwood office and warehouse complex

<html><body>
Yokogawa Australia Pt Ltd has leased a warehouse/office unit at Murarrie in Brisbane’s east.
The industrial automation and instrumentation company took out a two year lease, at 4/16 Metroplex Avenue (pictured below).
{yoogallery src=[images/stories/2013/10/02/mur]}
The warehouse/office unit is part of a complex, which is located in the heart of the Brisbane Trade Coast commercial hub of "Metroplex on Gateway"' said Stephen Ferguson of Ray White Industrial Milton, who negotiated the lease.
“The property includes a 480 square metre commercial grade office/showroom over 3 levels and a 20 square metre storage area accessed via a container height roller door, " he added.
The lease was struck at a net rental of $105,000 per annum.
</body></html>

Yokogawa lease Murarrie warehouse office unit

<html><body>
Institutional and investor appetite for retail assets shows no sign of fading, with more than $450 million worth of shopping centre deals around the country believed to be close to being finalised or just completed. 
Mirvac Group is close to finalising its purchase of the Harbourside Shopping Centre in Sydney's Darling Harbour in deal believed to be worth more than $255 million. A source told Property Observer that the deal could be finalised as soon as next week.
The three level retail and entertainment centre was listed for sale by Suntrack Holdings, a company owned by developer John Beville. Suntrack reportedly paid $127 million for the property in 2004.
Selling agent Stonebridge Property Group declined to comment.
In a separate deal, Raptis Investments have purchased the Inala Plaza shopping centre for $32.350 million. The sub-regional centre, located south?west of Brisbane's CBD, was sold on a passing initial yield of 11.5%.
The centre is anchored by supermarket retailers Woolworths and Coles and supported by two mini major tenancies and 60 specialty tenancies. The sale was negotiated by Jonathan Fox and Carl Molony of Stonebridge Property Group, on behalf of the vendor 360 Capital.
Speculation has also emerged that potential suitors for Harbour Town Perth have entered the second round of negotiations. At least two offshore parties, one from Singapore, are said to be having a hard look at the outlet shopping centre.  Colonial First State could also be among the interested parties. The price is believed to be around $165 million plus.
Expressions if interest for Harbour Town Perth closed in 26 September.
</body></html>

More than $450 million of shopping centre purchases being finalised

<html><body>
LJH Commercial is continuing its national expansion push, this time in Victoria.
The foray into Victoria comes less than a month after LJH Commercial, which is part of the LJ Hooker group, opened its first office in Perth and is the last major city it does not have an office presence in.
Patrick Brush, head of the commercial network for the LJ Hooker group told Property Observer that it hoped to initially open three offices over the next three to six months and "possibly another couple after that".
He said one of the key focus areas for LJH Commercial’s expansion is metropolitan Melbourne and its surrounding south-east and western regions.
</body></html>

LJH Commercial expand into Victoria

<html><body>
Global real estate firm Knight Frank LLP has finished its financial year posting a group profit before tax of £102.7 million (AUD $176 million) in the 12 months to 31 March.
The profit result represented a 7% increase over the previous year, on group turnover of £350 million (AUD $602 million).
The company did not breakdown individual country results. 
But Knight Frank Australia group managing director Kevin Coppel said that “while there are always things for us to work on, we are pleased with how our business is travelling... We are confident that our business will continue to strengthen in the current year.”
“Knight Frank has been involved in a number of major transactions across the country over the last 12 months and we continue to invest in our Australian business, with the priority being our agency businesses on the East Coast,” said Knight Frank Australia executive chairman Stephen Ellis.
Highlights for the Australian business from the year included Boeing Defence Australia committing to a 7,459 square metre lease, at 150 Charlotte Street, in Brisbane's CBD and specialist property fund manager CorVal buying an office building near Perth’s CBD from Australian Unity for $72.15 million.
</body></html>

Knight Frank LLP post $176 million pre-tax profit

For most new apartment buildings, the Owners Corporation starts life with little more than a bank account and the first quarterly strata levies.

At <a href="https://www.apartments.com.au/buildings/9-gay-street-castle-hill-9-gay-street-castle-hill-nsw-2154">9 Gay Street</a> in <a href="https://www.apartments.com.au/developments/castle-hill-nsw-2154">Castle Hill</a>, it starts with around $7 million in reserve.

It's an unusual legacy of what was once one of Sydney's highest-profile apartment remediation projects. When the development, originally known as Skyview and built by disgraced developer Top Place, came under scrutiny by then NSW Building Commissioner David Chandler, an $11 million remediation bond was negotiated to ensure any building defects could be fully rectified.

The building underwent an 18-month remediation program, during which around $4 million of that bond was spent bringing the building up to the standard it should have been in from the outset.

After extensive inspections, all active rectification orders have been lifted. What's more, around $7.2 million remains secured for the Owners Corporation for the next 15 years.

In a twist few would have predicted, what began as a significant concern for purchasers has left the building with something almost unheard of in the apartment market: a multi-million-dollar financial reserve from day one.

[smartcode_project:default project_id=147685 project_image_fid=359136]

<a href="https://www.apartments.com.au/project-marketer/equitifund-group">Equitifund</a> Executive Chairman Greg Huxley said the structure offers buyers a level of certainty that is difficult to replicate.

"The $11 million bond established for the Skyview Castle Hill development represents exceptional value, providing genuine financial security for purchasers," Huxley said.

"Unlike a standard insurance policy, this bond consists of real funds held in trust for the Owners Corporation, offering a tangible layer of protection and added peace of mind."

The apartments themselves have been designed with a focus on practical, contemporary living. Interiors feature Smeg appliances, stone benchtops, tiled living areas, carpeted bedrooms, 2.7-metre ceilings, floor-to-ceiling glazing, and ducted heating and cooling throughout.

Residents also have access to a range of shared amenities, including two rooftop barbecue areas, a swimming pool, children's playgrounds, secure building access, storage cages, and visitor parking.

The location continues to be one of the project's strongest drawcards. Castle Hill Metro Station sits virtually on the doorstep, providing direct connections across Sydney's expanding Metro network, while Castle Towers offers extensive retail, dining, entertainment, and service amenities within walking distance.

[smartcode_project:default project_id=147685 project_image_fid=359127]

The building, now named after its location at 9 Gay Street, comprises a diverse mix of one-, two-, and three-bedroom apartments starting from just under $600,000.

Equitifund National Sales Director Ben Hamblett said demand in the Hills District continues to be driven by buyers seeking convenience and connectivity.

"Interest from both owner-occupiers and investors in Castle Hill remains exceptionally strong, with buyers consistently prioritising developments in close proximity to the Metro station and Castle Towers Shopping Centre," Hamblett said.

"There is a clear trend in the market, with purchasers seeking convenient access to transport and lifestyle amenities that support a seamless, low-maintenance way of living."

On top of the long-term protection afforded by the remaining $7.2 million bond, Equitifund is offering a limited-time stamp duty rebate on selected apartments.

Eligible purchasers can also secure finance options, including a 3.99 per cent two-year variable rate, loan-to-value ratios of up to 90 per cent, and interest-only lending options through EquitiCredit.

[smartcode_project_cta:default project_id=147685]

Joel Robinson

Why this Castle Hill apartment building starts with a $7 million advantage

For much of the past few years, conversations about Australia's property market have centred on the rapid growth seen in Sydney, Brisbane, Gold Coast, and Perth. <a href="https://www.apartments.com.au/developments/melbourne-vic-3004">Melbourne</a> has followed a different trajectory.

That relative underperformance is now encouraging some buyers to reassess the city, particularly those willing to look beyond short-term market movements and focus on quality property in established locations, along with the long-term growth prospects of a city expected to overtake Sydney as Australia’s most populous.

John Bekiaris, Research &amp; Market Insights at <a href="https://www.apartments.com.au/project-marketer/equitifund-group">Projects by Equitifund</a>, said Melbourne's current position is attracting increasingly sophisticated purchasers.

"Melbourne continues to present one of Australia's strongest long-term investment stories," Bekiaris says.

"While other capital cities have experienced stronger recent growth, that relative underperformance is exactly what's attracting sophisticated counter-cyclical investors."

[smartcode_project:default project_id=1979 project_image_fid=363268]

Equitifund isn't just commenting on Melbourne's property market, it's investing in it.

The Sydney-headquartered capital partner has taken over the remaining apartments at <a href="https://www.apartments.com.au/buildings/victoriana-melbourne-20-queens-road-melbourne-vic-3004">Victoriana</a>, the recently completed glass-encased development opposite Albert Park Lake in Melbourne's tightly held St Kilda Road precinct.

Designed by <a href="https://www.apartments.com.au/architects/rothelowman">Rothelowman</a> and built by <a href="https://www.apartments.com.au/builders/hickory">Hickory</a>, Victoriana places residents between one of Melbourne's most recognised parklands and the CBD, offering oversized two and three-bedroom apartments aimed at owner-occupiers seeking a genuine alternative to a traditional family home.

The development comprises 232 completed residences alongside a suite of resident amenities, including a 25-metre indoor swimming pool, gymnasium, landscaped entertaining areas, resident lounges, EV charging, secure basement parking and a concierge-style arrival experience.

[smartcode_project:default project_id=1979 project_image_fid=363229]

The apartments have been designed with owner-occupiers firmly in mind.&nbsp;Open-plan living and dining areas flow onto generous balconies framing views across Albert Park Lake, Fawkner Park, the Royal Botanic Gardens and the Melbourne skyline.

Kitchens feature Gaggenau appliances, stone benchtops and generous preparation space. Bedrooms include built-in robes, while bathrooms feature full-height textured tiling. Hardwood flooring and ducted air conditioning complete residences designed for long-term living.

Rothelowman's architecture takes its cues from the landscape opposite the site. Sweeping horizontal glazing references the movement of Albert Park Lake, while generous balconies and expansive glazing strengthen the connection between the apartments and the surrounding parklands. The result is a building designed to deliver the scale and amenity expected of luxury apartment living, while offering the larger floorplans increasingly sought by owner-occupiers.

[smartcode_project:default project_id=1979 project_image_fid=363284]

The location is one of Victoriana's defining characteristics. Positioned on Queens Road, residents are directly opposite Albert Park Lake and within easy reach of Fawkner Park, the Royal Botanic Gardens, South Melbourne, St Kilda Road and the CBD. With few comparable development opportunities remaining in the precinct, buyers are increasingly placing value on outlooks that are unlikely to be interrupted by future construction.

Greg Huxley, Founder of Equitifund, believes those qualities become even more valuable over time.

"Premium real estate has always rewarded buyers who take a long-term view," Huxley said.

"Victoriana represents the kind of asset that's increasingly difficult to recreate today, particularly in an established location like Queens Road."

He said rising construction costs are also changing the way buyers assess completed developments.

"When you combine an irreplaceable location with thoughtful architecture and premium finishes, you create something that becomes increasingly difficult to reproduce as construction costs continue to rise."

[smartcode_project:default project_id=1979 project_image_fid=363228]

According to National Sales Director Ben Hamblett, enquiry has been driven largely by Melbourne downsizers and buyers upgrading from smaller apartments.

"Interest in Victoriana continues to build, with strong buyer focus on the larger owner-occupier residences within the development," Hamblett says.

"Enquiry is increasingly driven by local buyers who recognise the rarity of what's on offer: park-facing apartments in an established neighbourhood where new development opportunities are becoming increasingly scarce. At Victoriana, the view is not just a feature; it's an appreciating asset in its own right."

He said interstate enquiry has also strengthened as buyers reassess Melbourne's position within the national property cycle.

"Melbourne currently stands as the most compelling entry point of any major Australian capital, and discerning buyers are beginning to recognise what those who move early always understand: the best opportunities are taken before the price rise confirms them."

[smartcode_project_cta:default project_id=1979]

Why now is the time to buy in Melbourne's premium apartment market

Developers and apartment buyers have a narrowing window of opportunity before Brisbane's Olympic infrastructure pipeline begins competing directly with residential construction, pushing up costs, tightening labour supply and making new projects increasingly difficult to deliver.

While Brisbane's apartment market continues to benefit from strong population growth and limited housing supply, industry research suggests the years leading up to 2027 could prove to be the most important period for developers looking to secure builders and buyers hoping to purchase before the next wave of price increases.

A new Colliers report, Brisbane 2032 Olympic and Paralympic Games: Creating Solutions, highlights the scale of the challenge. While thousands of new homes are planned across South East Queensland, the Brisbane Olympic Athletes Village alone will deliver more than 10,500 beds during the Games before being converted into around 1,750 to 2,000 apartments. Equivalent to almost two years of typical inner-city apartment supply, the project will also absorb a significant share of the construction workforce and building materials.

The broader construction pipeline paints an even clearer picture.

Construction Skills Queensland's Horizon 2032 report forecasts Queensland's annual construction pipeline will average $69 billion over the coming years before peaking at $75 billion in 2027-28. Demand for construction workers is expected to increase by 17 per cent to almost 150,000 people, with the industry facing an annual shortfall of around 19,000 workers that could blow out to as many as 35,000 during the peak construction period.

The Olympic venues, athletes village and supporting infrastructure will account for billions of dollars worth of work across South East Queensland through to 2032, creating intense competition for labour at a time when Australia's residential construction sector is already under pressure.

[smartcode_project:default project_id=150489 project_image_fid=373834]

Colliers Queensland Residential Director Andrew Scriven said the convergence of these projects is creating a clear window of opportunity for both developers and buyers.

"From 2027 onwards, the market will shift dramatically," Scriven said.

"Labour will increasingly be locked into government-led infrastructure and Olympic projects, which means private residential developments will face higher costs and tighter margins. The developers who move now are the ones most likely to get projects off the ground."

Scriven said the same dynamic would also affect buyers, with fewer apartment projects expected to launch once construction capacity tightens.

"If you're looking to change your lifestyle over the next five years, now is your window of opportunity to buy."

[smartcode_project:default project_id=150713 project_image_fid=373827]

Developers are already positioning themselves ahead of that window.

Following the success of Monarch at Toowong, Consolidated Properties is preparing to launch two new Brisbane apartment projects in the second half of 2026. They include <a href="https://www.apartments.com.au/new-apartments/gloriette-30-bedivere-street-yeerongpilly-qld-4105">Gloriette</a> at Yeerongpilly Green, a 25-storey tower within one of Brisbane's key Olympic precincts, and <a href="https://www.apartments.com.au/new-apartments/castile-47-skyring-terrace-newstead-qld-4006">Castile</a>, a recently approved 25-storey riverfront development at 47 Skyring Terrace in Newstead.

Hutchinson Builders will deliver both projects, with early works already underway at Yeerongpilly and Newstead expected to commence later this year.

The timing comes as Brisbane's fundamentals continue to strengthen, with strong interstate migration, population growth and vacancy rates remaining below 1.5 per cent.

Colliers Queensland researcher Pragya Sharma said Greater Brisbane is forecast to require around 40,000 new apartments between 2021 and 2031.

"There's a real mismatch emerging between when housing is needed and when it will be feasible to build," Sharma said.

"As a result, the period leading up to 2027 presents a key window of opportunity for developers to secure approvals, funding and construction capacity, while buyers will have greater choice before supply constraints intensify."

Colliers research outlines a critical pre-2027 window to start residential projects before labour squeeze: now is the time to buy

Developers, buyers on watch in South East Queensland ahead of construction crunch: Colliers

It's taken less than nine months for developer Sherpa Property Group to sell out all 51 apartments in its <a href="https://www.apartments.com.au/new-apartments/flourish-oasis-palm-beach-7-9-sixth-avenue-palm-beach-qld-4221">Flourish Oasis</a> development in <a href="https://www.apartments.com.au/developments/palm-beach-qld-4221">Palm Beach</a>, over a year before its anticipated completion.

&nbsp;

Located at 7-9 Sixth Avenue, the $67 million development has resonated strongly with both local owner-occupiers and downsizers seeking high-quality apartments within walking distance of the beach, dining precincts and everyday amenities.

[smartcode_project:default project_id=151449 project_image_fid=357458]

Christie Leet, Founder of <a href="https://www.apartments.com.au/developers/sherpa-property-group">Sherpa Group</a>, said the sell-out reflected both the strength of the Palm Beach market and the success of Sherpa's community-first approach to development.

"The sell-out of Oasis is a fantastic outcome and reinforces the strong demand we're seeing for thoughtfully designed apartments in lifestyle locations," Leet said.

"From the outset, our vision was to create a development that genuinely enhanced the Palm Beach community while providing residents with exceptional homes and wellness-focused amenities.

"We've been incredibly encouraged by the level of local support throughout the campaign, 72.5 per cent of buyers are locals, with a significant proportion of purchasers choosing Oasis as their future home rather than an investment."

[smartcode_project:default project_id=151449 project_image_fid=357463]

Construction is now progressing following development approval, with trusted builder LPS Group delivering the project and completion anticipated in Q3 2027.

Oasis forms part of Sherpa Group's successful Flourish collection, which has become recognised for its focus on wellness, community and elevated coastal living.

[smartcode_project:default project_id=151449 project_image_fid=357469]

Residents will have private access to a rooftop amenity space featuring a pool, gym, sauna, steam room, hot and cold plunge pools, spa and barbecue facilities.

"The success of Oasis demonstrates that buyers continue to prioritise quality, location and lifestyle," Leet said.

"We are proud to have delivered a project that has resonated so strongly with the market and look forward to bringing Oasis to life for our future residents."

Sherpa recently launched <a href="https://www.apartments.com.au/new-apartments/flourish-soleira-palm-beach-1150-1160-gold-coast-highway-palm-beach-qld-4221">Flourish Soleira</a>, its third instalment of the Flourish brand in Palm Beach following Flourish Oasis and <a href="https://www.apartments.com.au/new-apartments/amargo-6-12-sixth-avenue-palm-beach-qld-4221">Flourish Amargo</a>.

[smartcode_project_cta:default project_id=151449]

Sherpa sells out Flourish Oasis in booming Palm Beach

Urban Property Group's <a href="https://www.apartments.com.au/new-apartments/la-vera-macquarie-park-94-talavera-road-macquarie-park-nsw-2113">La Vera</a> is leading the next phase of Macquarie Park's residential evolution, with the new apartment development set to become the first of several new apartment projects in the precinct to complete.

The 169-apartment building has now topped out ahead of its scheduled completion in the third quarter of 2026, as new residential investment continues to reshape one of Sydney's largest employment hubs into a true mixed-use precinct.

[smartcode_project:default project_id=134951 project_image_fid=368645]

Cox Architecture has designed La Vera to capture the best of its unique positioning on Talavera Road, orienting the building towards Lane Cove National Park.&nbsp;The building features a sculpted northern façade with flowing curves inspired by the surrounding landscape, while its city-facing elevation adopts a more structured architectural expression to maximise skyline views.

"The vision for the project was to conceive a building that adopted an organic and curvilinear form to the northern portion that faces the Lane Cove National Park," <a href="https://www.apartments.com.au/architects/cox-architecture">Cox Architecture</a> Director Felipe Miranda said.

"The residents that reside in the northern portion of the building benefit by having beautifully crafted curved balconies that speak to the natural context and heighten the relationship of their internal living spaces to the external balconies."

[smartcode_project:default project_id=134951 project_image_fid=358802]

La Vera offers a diverse mix of one, two, three, and four-bedroom configurations, with prices currently starting from $740,000. Buyers so far have been a mix of Sydney-based investors,&nbsp;metro commuters, owner-occupiers and downsizers from surrounding North Shore suburbs.

Both investors and owner-occupiers have been drawn to La Vera's proximity to Macquarie University, Macquarie University Hospital, Macquarie Centre and the Sydney Metro, infrastructure that supports both strong rental demand and a convenient lifestyle for residents.

The apartments feature full-height glazing, timber flooring throughout living areas, stone kitchen benchtops, SMEG appliances, floor-to-ceiling bathroom tiling and ducted air conditioning.

Residents will have access to a rooftop recreation level featuring a swimming pool, sauna, barbecue facilities and landscaped relaxation areas, complemented by additional communal space at ground level. Many apartments enjoy uninterrupted views across Lane Cove National Park, reinforcing the project's connection to its natural setting.

[smartcode_project:default project_id=134951 project_image_fid=364551]

<a href="https://www.apartments.com.au/developers/urban-property-group">Urban Property Group</a>, a family-owned developer and builder with nearly four decades of experience, holds a 4.5-star iCIRT rating and was Australia's first developer to introduce 10-Year Latent Defects Insurance (LDI). La Vera is the first apartment development in <a href="https://www.apartments.com.au/developments/macquarie-park-nsw-2113">Macquarie Park</a> approved to offer the additional insurance protection, alongside a five-year warranty on SMEG appliances.

Urban Property Group CEO Patrick Elias said the additional protection reflects changing buyer expectations in the off the plan market.

"Consumers are a lot more weary and a lot more concerned in buying off the plan than they ever have been. Having LDI is a tool to portray the confidence that we have in our product, and a confidence we want buyers to share," Elias said.

Following completion of the building later this year, buyers will move into their apartments well before Christmas.

[smartcode_project_cta:default project_id=134951]

Katherine Jimenez

Editor's Picks

Have something to contribute?

Developments

New apartments

New townhouses

News