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<img src="/images/stories/2012/06/15point6m.gif">
How much the Sentinel Property Group has paid for the Northpoint Homemaker Centre at 1 Bruce Highway and Windmill Crossing in Mackay, in northern Queensland. The fully leased Northpoint centre, completed in 2005, fronts directly onto the Bruce Highway from a 29,191-square-metre site in the northern suburbs of Mackay.  It features 11,407 square metres of lettable area fully leased to 10 tenants, including the ASX-listed Super Retail Group and The Good Guys.  The property was purchased by Sentinel from 360 Capital Retail Fund, with the transaction negotiated by Philip Gartland and Carl Molony of Stonebridge Property Group. Other tenants at Northpoint include Snooze, Toyworld, The Outdoor Furniture Specialists, Curtain Wonderland and Reece Plumbing.
 
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<img src="/images/stories/2012/06/1point3m.gif">
The price paid for a freestanding industrial warehouse in the south-western Sydney suburb of Peakhurst sold at auction by Ray White Industrial M5. The property at 37 Stanley Street, Peakhurst, was sold to packaging company Smartpack Solutions Pty Ltd by Ray White Industrial M5’s Ryan Jennings and Michael Abbott. The 2,020-square-metre warehouse was sold as a vacant possession on behalf of owner Control Systems Technology Pty Ltd, which has recently acquired a much larger facility in Revesby. It last sold for $1.48 million in 2008.
 
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<img src="/images/stories/2012/06/2point45m.gif">
The combined price paid for two retail strata suites in Melbourne’s Docklands sold in June. A 120-square-metre suite was sold to Vintam Bakery for $1.05 million, and a 143-square-metre suite to Kenny’s Bakery for $1.4 million. Both sales were negotiated by Daniel Wolman, Colliers International executive for CBD sales.  Both suites are on the ground floor of Vicland Property Group’s Exo building at 860 Collins Street. Three of the nine retail suites in this building have now been sold, leaving only six remaining.
 
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<img src="/images/stories/2012/06/1point27m.gif">
The price paid for industrial property in the commercial precinct of Slacks Creek, south of Brisbane. The property, which includes two large industrial units at 3347 Pacific Highway, Slacks Creek, was sold by Clem Aynsley of Ray White Commercial M1 North on behalf of private investment company Dornoch Trust. The property offers a land area of 2,550 square metres and the total floor area of the two units is 1,243 square metres.  Aynsley says the purchaser, Lane Investment Trust, has secured tenancies for both units, with south-east Queensland trade service company Todd’s Plumbing and Electrical relocating one of its nearby outlets to the property. The other unit is already leased by long term tenant, Lawrence and Hanson Electrical Wholesalers.
 
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<img src="/images/stories/2012/06/2point5m.gif">
The price paid for a Fernwood fitness centre at Ferntree Gully east of Melbourne. The property at 6/1849 Ferntree Gully Road, Ferntree Gully, was sold to a private investor by Ray White Commercial Manningham principal Brett Diston. Fernwood Investments Pty Ltd has a long-term lease on the two-level property. The modern 1,076-square-metre premises located on a high-profile site with excellent exposure were recently upgraded with an intensive fit out. Fernwood has a 10-year lease with a five-year renewal option on the property and paying annual rental of approximately $260,000.
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lschlesinger-FZcF9M3vE6

Commercial hammer prices

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<img src="/images/stories/2012/06/1000plus.gif">
The estimated annual rent per square metre that food businesses have paid to lease space in the Melbourne CBD, with both deals negotiated by Ben Tremellen of Colliers. At 485 La Trobe Street, Tremellen negotiated a deal on behalf of landlord CLSA for café operator Café Saporo to lease 120 square metres of space that was previously foyer seating. At 206 Bourke Street, he negotiated the lease of 501 square metres on Level 1 to another food operator over two tenancies, and at the new SX building on Exhibition Street, a national food operator has taken up 100 square metres.
 
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<img src="/images/stories/2012/06/800.gif">
The estimated gross annual rent per square metre (plus a market incentive) that specialist life insurer TAL will pay to lease new headquarters in the Sydney CBD. The group will lease nine mid-rise floors, over 10,500 square metres of space, at 363?George Street, just south of ­Martin Place, taking over space vacated by the Commonwealth Bank. The building is owned by ISPT and is formerly known as TOWER Australia. TAL will also take over the CBA’s prominent sky sign on the tower. The lease is for 12 years and was negotiated by Cadigal Office Leasing’s Mark Tindale and CBRE. Jason Wright of GJS Property advised TAL, which is relocating from Milsons Point across the harbour
 
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<img src="/images/stories/2012/06/17200.gif">
The gross annual rent that Gold Coast digital printing and sign writing company The Rocket Signtists will pay to lease an 86-square-metre warehouse/office space in a commercial complex at Helensvale on the Gold Coast. The company has taken up a tenancy at 3/178 Siganto Drive in a deal negotiated by Steve Macgregor of Ray White Commercial Southport. The Rocket Signtists have secured a three-year lease on the property. 
 
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<img src="/images/stories/2012/06/140.gif">
The net annual rent per square metre plus GST that national travel retail chain Newslink Pty Ltd will pay to lease a 1,368-square-metre office/warehouse in Rosebery. The 6-10 Durdans Avenue property features a modern industrial high-clearance warehouse, mezzanine offices, air-conditioning and an extra-wide container-height door.  The deal was negotiated by CBRE’s Mark Silva and Nathan Egan on behalf of Hamlove Pty Ltd. Newslink has taken a five-year lease. Durdans Avenue is located approximately six kilometres from the Sydney CBD and is situated close to the intersection of Botany and Gardeners roads.
 
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<img src="/images/stories/2012/06/120d.gif">
The annual rent per square metre that architectural timber and composite panelling manufacturer Ultraflex Pty Ltd will pay to lease a 999.5-square-metre industrial unit in Silverwater’s Slough Business Park. Located at the corner of Holker Street and Silverwater Road, the unit comprises a high-bay warehouse and an office and is situated at the corner of Slough Business Park. The lease was negotiated by CBRE’s Michael O’Neill and Shaun Timbrell on behalf of Goodman Property Services (Australia) Pty Ltd. Ultraflex has taken a four-year lease. Silverwater is located approximately 20 kilometres west of the Sydney CBD.
 
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<img src="/images/stories/2012/06/400d.gif">
How much Coda restaurant will pay to lease 350 square metres of space at Level 1, 96 Flinders Lane in the Melbourne CBD. The deal was negotiated by Ben Tremellen, Colliers International Manager for retail leasing, who said food and beverage sites were hot property in the CBD. Accessed via AC/DC Lane, the site would be home to a new venture from the team behind Coda, with details to be announced in the coming months.
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Commercial leasing: Watch this space

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<img src="/images/stories/2012/06/490.gif">
The amount a Melbourne-based IT software company will pay per square metre (gross) to lease a whole office floor in a strata office building in a deal negotiated by Savills manager of office leasing, Mark Bolis. The lease covers a 434-square-metre space on level 8 in the 171 La Trobe Street building. Bolis says the 10-level building had been extremely tightly held since it was subdivided into separate floors and sold individually in the early 2000s, with only one floor changing hands since 2005, demonstrating the tightly held nature of the building.
 
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<img src="/images/stories/2012/06/110.gif">
The annual rent per square metre that cake manufacturer Bartletts will pay to lease a 1,564-square-metre office/warehouse in Rydalmere, 21 kilometres north-west of the Sydney CBD. The 6 Pike Street property was recently refurbished and features a high-bay warehouse, large roller door and exclusive yard. The lease was negotiated by CBRE’s Shaun Timbrell and Michael O’Neill on behalf of construction firm Direct Developments. Bartletts has taken a three-year lease.  
 
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<img src="/images/stories/2012/06/520.gif">
The asking price per square metre (gross) for 916 square metres of office space covering level three at 26 College Street, a B-grade office building comprising of six levels of office accommodation on the fringe of the Sydney CBD. The office block adjoins to the Pullman Hotel. It is located on the eastern alignment of College Street, opposite Hyde Park, with Francis and Oxford Streets being the cross streets. Museum Station and Elizabeth Street Bus Terminal are both within close proximity. The space is being marketed by Christian Minards from Ray White Commercial.
 
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<img src="/images/stories/2012/06/185k.gif">
The annual rental income (plus GST and outgoings) on a new top floor office lease in Hawthorn. Level six at 523 Burwood Road has been leased by Drive Projects from June this year for five years. The floor will go to auction on June 20 and is expected to sell for more $2.45 million though a campaign led by Colliers International executives Hamish Burgess and Ben Baines. The 410-square-metre strata office includes a 38-square-metre terrace and 12 secure car parks.
 
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<img src="/images/stories/2012/07/180k.gif">
The estimated net rent per annum that accounting firm KPMG will pay to lease 500 square metres of commercial space on the Sunshine Coast, in a deal estimated to be worth $180,000 a year net. The firm has signed a seven-year lease plus two five-year renewal options. KPMG is leasing space at the Emporio mixed-use development at 2?Emporio Place, Maroochydore. The lease was negotiated by Tony Justo of Colliers International in conjunction with Justin Welsh of Savills on behalf of Reed Property Group.
 
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<img src="/images/stories/2012/07/704.gif">
How much Two Skinny Men, a specialist digital agency, will pay per square metre net to lease a 62-square-metre office at 56 Bowman Street in Pyrmont from a private investor. A lease term of two years plus a one-year renewal option was secured by Michael Vranic of City Commercial Property.
 
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<img src="/images/stories/2012/07/95.gif">
The net rent per square metre that Kerry Logistics will pay to lease 5,800 square metres of warehouse space at Stockland’s Yennora Distribution Centre in Western Sydney. The lease was negotiated by Olivia Skinner and Fallon Leek from Billicorp and Angus Grier from GJS Property.
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<img src="/images/stories/2012/07/110.gif">
The going rent per square metre for industrial units in Nerang on the Gold Coast, where a property previously occupied by the now-defunct Glenfords Discount Tool Centre is vacant and being marketed for lease by Josh Wright of Colliers International. The 387-square-metre industrial unit is located at 1/12 Lawrence Drive within the Jupiter Plaza complex. According to Wright, the property would be perfect for businesses looking for warehousing space that would benefit from the exposure and quick access on to the nearby M1 Pacific Motorway.
 
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<img src="/images/stories/2012/07/400.gif">
The annual rent per square metre business consulting firm, RXP Services will pay to lease 281 square metres of office on Collins Street in the Melbourne CBD. The property at 406 Collins Street has been leased on a three-year lease. The building has recently undergone a major refurbishment. The lease was negotiated by Josh Langdon of Colliers International.
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<img src="/images/stories/5point632.gif">
 
The price paid for one of Melbourne CBD’s most well-known corner properties following a public auction that attracted a crowd of more than 300 spectators and multiple bidders. The sale price equates to a yield of 3.9%. The 217 Elizabeth Street building with floor area of 312 square metres was offered to the market for the first time in more than 25 years. CBRE’s Mark Wizel and Josh Rutman steered the marketing campaign.  Rutman said there had been widespread interest in the property from the time that the first advertisement appeared in the newspaper. The property was originally constructed in 1869 by the renowned Knight family. It has been fully leased by national retailer Camera House for more than 20 years. The net income on the property is approximately $220,000, with all outgoings paid by the tenant.
 
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<img src="/images/stories/2point25m.gif">
How much tyre distributor Top Tyres has paid for a speculative office-warehouse development in Derrimut in Melbourne’s west. The property was acquired from The Makland Group in a deal negotiated by Colliers International agent Nathan Bingham. The speculative development measures 2,395 square metres and is located at 166 Paramount Boulevard in Derrimut. The sale price represented $940 per square metre.
 
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<img src="/images/stories/16point5m.gif">
How much a Brisbane-based private investor has paid for the Spring Lake Metro retail and commercial complex at Springfield Lakes, Queensland, at auction. The property at 1 Springfield Lakes Boulevard, completed in 2007 and set on a 4.2-hectare site, occupies a prominent elevated position at the gateway to the Springfield Lakes masterplanned community west of Brisbane. The community-titled complex features a Coles Liquorland tavern and function centre (trading as the Spring Lake Hotel), a First Choice Liquor Superstore, a McDonalds drive-through restaurant, 23 retail specialty shops, two freestanding commercial office buildings, a decommissioned motel and a vacant garden centre. The Spring Lake Metro complex was sold by Peter Tyson, Jon Tyson and Michael Harcourt of Savills, under instruction from receivers and managers PPB Advisory.

 
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<img src="/images/stories/360k.gif">
The price paid for an entry level warehouse/office unit at Upper Coomera on the northern Gold Coast. The property, Lot 3/ 25 Dalton Street Upper Coomera, was marketed and sold by Steve Macgregor of Ray White Commercial Southport. Macgregor says an overseas vendor needed an immediate sale, and got one, with a giftware company now owning and occupying the 175-square-metre property. The unit is located in a great location in only minutes away from the heart of the Gold Coast and close to the Brisbane CBD.

 
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<img src="/images/stories/900k.gif">
The price paid for a freehold industrial investment property in a private, off-market sale negotiated by Chris Jones from Colliers International. The property is located at 144 Australis Drive, Derrimut in Melbourne’s west and measures 868 square metres on a 1,441-square-metre site. The property was acquired for a self-managed super fund of a private developer. The price equates to a yield of 7.4%. The property is currently tenanted by Australian Graphics Pty Ltd, on a three-year lease with a five-year renewal option with current rental income $67,000 per annum.
 
 
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<img src="/images/stories/500plus.gif">
An estimate of how much well-known Melbourne restaurateur and chef Marco Santucci will pay per square metre per year to lease a 400-square-metre restaurant space on the ground floor of a New York-style warehouse building at 31 Flinders Lane between Spring and Exhibition streets opposite Collins Place in the Melbourne CBD.  The deal was brokered by Savills Australia retail director Michael Di Carlo alongside colleague Jeremy Marmur.
 
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<img src="/images/stories/100dollars.gif">
Roughly how much a Melbourne electrical contractor will pay per square metre per annum net to rent a 700-square-metre office and warehouse building at 13 Ceylon Street industrial facility at Nunawading in Melbourne’s eastern suburbs. The deal was negotiated by Savills Australia Adrian Smith. The property is located near the intersection of Whitehorse and Springvale roads, providing links with Melbourne’s freeway system via the Eastern Freeway.  The lessor was a local private investor.
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<img src="/images/stories/1300.gif">
The gross rent per square per annum being sought for a 187-square-metre office space on level 40 within in the 64-level Governor Phillip Tower in the Sydney CBD. The sublease is available until August 2014, with space being offered by Jeremy Piggin of Ray White Commercial Office Leasing. Governor Phillip Tower is located just two blocks from Circular Quay, encompassing an entire CBD block bounded by Bridge, Phillip, Bent and Young streets.
 
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<img src="/images/stories/475.gif">
The gross rent per square metre per annum that mining risk insurance consultants Hawcroft will pay to lease a 110-square-metre office at 275 Alfred Street in North Sydney from Fivex Commercial Property. The lease term is three years, with the deal negotiated by Laura Hilder from Aspace Estate Agents.
 
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<img src="/images/stories/400.gif">
The gross rent per square metre per annum that travel group the Grand Circle Corporation will pay to lease a 150-square-metre office at 80 William Street in Darlinghurst in Sydney from Terrace Tower Group. The office has been leased for four years plus a four-year renewal option. The deal was negotiated by Michael Vranic from City Commercial Property.
 
 
 
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<img src="/images/stories/2012/06/128800.gif">
The gross annual rent that Redback Conferencing will pay to lease 322 square metres of office space at Level 3, 285 George Street in the Sydney CBD. Rowan Humphreys of Tenant Representation Services negotiated the lease on behalf of Redback Conferencing while Dan Walker of Colliers International represented the vendor Kapau Holdings Pty Ltd. The lease period is two years commencing July 1 with a renewal option period of one year. 
 
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<img src="/images/stories/2012/06/90k.gif">
The estimated gross annual rent that business solutions provider Lodestone Management Consultants will pay to lease office space in the Canberra CBD. The 248-square-metre tenancy on the third floor at 8-10 Hobart Place, Civic, was secured following negotiations by Aaron Green of Ray White Commercial Canberra. Lodestone has taken out a three-year lease on the premises.
 
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<img src="/images/stories/2012/06/150dollars.gif">
The net annual rent per square metre plus GST that fire door manufacturer Fire Systems Engineering will pay to lease a 1,153-square-metre industrial unit in Alexandria in Sydney’s eastern suburbs. The 1/6 Huntley Street site comprises four units, each of which feature high-clearance warehouses, street frontage, air-conditioned office space and off-street parking. The lease was negotiated by CBRE’s Mark Silva on behalf of Tangala Pty Ltd. Fire Systems Engineering has taken a five-year lease.
 
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<img src="/images/stories/2012/06/120.gif">
The net per square metre annual rent that Visy Boxes and More, a subsidiary of Visy Industries, will pay to lease a 1,918-square-metre office/warehouse in Brisbane’s TradeCoast area. The 2/142-150 Benjamin Place, Lytton property benefits from a strategic location on the Port of Brisbane Motorway. The lease was negotiated by CBRE’s Jamie Nason and John Slater on behalf of Opus Capital. Visy has taken a three-year lease with a three-year option.
 
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<img src="/images/stories/2012/06/113058.gif">
The initial gross annual rent that health and wellbeing group Results Laser Clinic will pay to lease new premises in Sydney's CBD. Results Laser Clinic, which has 12 locations throughout NSW, Queensland and Victoria, has leased Level 1, 280 George Street, Sydney, via Ray White Commercial office leasing director John Skufris.  “The new location offers an area of 171.3 square metres with natural light on multiple sides and excellent exposure over George Street with Wynyard Station, the Met Centre and Australia Square still all just moments away," says Skufris. 280 George Street is a 13-storey office building Results Laser Clinic has committed to a five-year lease having relocated from 312 George Street.
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<img src="/images/stories/2012/05/39point35.gif">
How much a Charter Hall Group-managed fund has paid to acquire the Cromwell Property Group’s Masters Distribution Centre at Hoppers Crossing, in Melbourne, reflecting a yield of 8.1%. The price was in line with the current carrying value and most recent independent valuation at December 31, 2011.The 52,364-square-metre property is 100% leased and is used by Woolworths as a distribution centre for the Masters Hardware business.  The property has a weighted average lease expiry of 8.5 years.  Cromwell chief executive Paul Weightman says the company negotiated a new 10-year lease with Woolworths in 2011, but believes it can achieve a higher medium-term return by investing in assets elsewhere. The sale was negotiated by Tony Iuliano, Colliers International national director of industrial.
 
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<img src="/images/stories/2012/05/9m.gif">
How much equipment shelter designer and manufacturer ICS Industries has paid for high-exposure corner site in Thomastown representing an initial yield of 9%. The 27,200-square-metre site is located at 309 Settlement Road and includes an older-style industrial building with a net lettable area of 6,896 square metres, The property includes a substantial concrete yard with 193 car spaces and five points of entry.  The marketing campaign was steered by CBRE’s Dean Hunt and Matt Sampson on behalf of BBC Hardware Properties (VIC) Pty Ltd. The property was sold to an owner occupier with a 15-month leaseback to Bunnings Warehouse to allow for the completion of its new store. Thomastown is located approximately 17 kilometres north of the Melbourne CBD.
 
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<img src="/images/stories/2012/05/675200.gif">
How much a self-managed super fund has paid for a tenanted medical centre close to the Canberra Hospital has been sold by Ray White Commercial Canberra. The 158-square-metre property at 1/60 Garran Place, Garran, was negotiated by Ray White Commercial Canberra director Andrew Smith on behalf of owner-occupier medical practitioners, who have leased the centre back on a three-year term on an annual starting rent of approximately $65,000. The sale represents a net yield of around 8%. The unit is located in a highly sought after area and is only 500 metres to Canberra Hospital. It last traded for $389,070 in 1992.
 
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<img src="/images/stories/2012/05/500k.gif">
How much an office/warehouse located in an established warehouse and factory complex in east Melbourne has been sold in a campaign by Ray White Commercial Manningham’s David McGuinness. The 370-square-metre property in Thornton Crescent, Mitcham, was sold to a private investor on behalf of a long-term owner. McGuinness says the warehouse complex is currently leased on a two-year lease at $36,000 per annum plus GST and outgoings. The warehouse is located just off Rooks Road near Whitehorse Road around 20 kilometres east of the Melbourne CBD within a five-minute drive of the Eastern Freeway.
 
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<img src="/images/stories/2012/05/30mplus.gif">
How much the Industry Superannuation Property Trust has paid for the <a href="https://www.propertyobserver.com.au/victoria/pakenham-racecourse-site-sells-to-ispt-for-more-than-%2430-million/2012053054899">Pakenham racecourse site</a>. Melbourne-based ISPT was one of three final bidders for the property when last listed in early 2011, after which the conditional sale to the Corcoris Group fell through. It was at a reputed $38 million. The 27-hectare site about 55 kilometres south-east of the Melbourne CBD is expected to be carved up into 500 house lots after the state government rezoned the racecourse to comprehensive development zone in 2010.
 
 
 
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<img src="/images/stories/2012/07/21point43m.gif">
The price paid by a private investor, off the plan, for a new logistics warehouse facility in Melbourne’s west. Tony Iuliano, Colliers International national industrial director, negotiated the sale of the 23,455-square-metre facility at 19-39 Studley Court, Derrimut. It is located within the Paramount Industrial Estate developed by Gibb Group and designed and constructed by Qanstruct for Kraft Foods Limited. Kraft recently entered in a five-year lease with five renewal options of five years. It is currently under construction on 46,650 square metres of land near the Western Ring Road. The sale price reflects a yield of 8.2%. 
 
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<img src="/images/stories/2012/07/14m.gif">
How much Darwin-based private investor Cenfurn Investments Pty Ltd, associated with the Koch Family, has paid to acquire The Zone Retail Centre and an adjoining retail development site in Darwin located at the intersection of Stuart Highway and Vanderlin Drive. After adjusting for the value of the vacant land, the centre is understood to have sold on an equated yield of approximately 11%.  The centre features 6,430 square metres of retail space on a 13,300-square-metre site with car parking for approximately 200 vehicles. The property was marketed by Matthew Knight and Cameron Arnott of Knight Frank, and Peter Tyson and Jon Tyson of Savills on behalf of receivers John Greig and Nicholas Harwood from Deloitte.
 
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<img src="/images/stories/2012/07/405k.gif">
The price paid for an office/warehouse at Oakleigh South in Melbourne offering solar power. The property at 23/23-25 Bunney Road, Oakleigh South, was sold by Ray White Commercial Oakleigh sales and leasing executive Ryan Amler on behalf of a local investor. The property offered a total building area of approximately 350 square metres and also has on-site parking for seven cars.
 
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<img src="/images/stories/2012/07/1point3m.gif">
The price being sought for an industrial site in Brooklyn in Melbourne. Colliers International’s Nick Saunders and Cameron Hunter have been appointed to sell 26 Buchanan Road in Brooklyn. The 2,400-square-metre site, currently owned and operated by Plasterboard Wholesalers, is home to a warehouse of around 1,155 square metres. The property is being offered with vacant possession. Brooklyn is just on the outskirts of Melbourne’s inner west, located within one kilometre of the on- and off-ramps of the West Gate Freeway.
 
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<img src="/images/stories/2012/07/4point65m.gif">
How much a private investor has paid to purchase industrial land in Melbourne’s west – the largest single purchase in this market for more than three years. The sale of the 5.6-hectare site at 169 Australis Drive in Derrimut was negotiated by Nathan Bingham and Stephen Newsham, of Colliers International. It was sold post auction and it is envisaged that the buyer will design and construct a distribution centre.
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<img src="/images/stories/2012/07/285.gif">
The gross face rent that Planet Innovation will pay to lease a 1,000-square-metre office building at 81-89 Cotham Road, Kew in Melbourne. The five-year deal was negotiated by Michael Darvell from Colliers International. The property is owned by a private investor and was previously tenanted by Roche Pharmaceuticals. Planet Innovation has relocated from Botanicca Business Park in Richmond.
 
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<img src="/images/stories/2012/07/55k.gif">
The net annual rent that construction firm and earth moving specialists Hawkins Civil Constructions Pty Ltd will pay for an industrial property at Loganholme, south of Brisbane.  The company has taken up a tenancy at 51-53 Cairns Street, Loganholme, in a deal negotiated by Karen Seeto of Ray White Commercial Burleigh. Seeto says the site measures around 1.1 hectares with around 5,800 square metres of hardstand area. Hawkins has secured a two-year lease with a two-year renewal option.
 
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<img src="/images/stories/2012/07/725.gif">
The annual rent per square metre that consulting firm Pacific Strategy Partners will pay to lease level 24, 1 Alfred Street in the Sydney CBD on a 12-month deal. The 400-square-metre suite with existing fit-out in situ and harbour views was negotiated by Ray White Commercial’s Jeremy Piggin. The building, known as Goldfields, is owned by property group Valad and is one of Circular Quay’s oldest office buildings with redevelopment approved.
 
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<img src="/images/stories/2012/07/20800.gif">
The annual rent per annum, exclusive of GST, that an Italian restaurant will pay to lease a historical building in Dubbo. The 232-square-metre building with a 63-square-metre mezzanine at 21 Depot Road, Dubbo, was secured following negotiations by Rod Crowfoot of Ray White Commercial Dubbo. Crowfoot says the Depot Road property was previously a café, gallery and cultural centre. The restaurant has secured a two-year lease.
 
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<img src="/images/stories/2012/07/400.gif">
The initial annual rent per square metre that online lead generation company TellUs will pay to lease 327 square metres of office space at level 2, 1 Alfred Street (Goldfields House), Sydney. The Dutch group, located throughout Europe and North America, was in serviced offices at Darling Park. Its 12-month lease offered workstations, three sides of natural light and with views towards the harbour bridge.
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Property developer One Living, backed by former Macquarie banker turned investment manager Chris Green’s investment firm, has unveiled plans to bring more institutional capital into housing to help address the national supply crisis.

The New York-based investor has focused his firm, GreenPoint Partners, on addressing the supply shortage hitting middle market housing in Australia.

It is backing the new One Living business to develop more than 1000 units along the eastern seaboard. The new firm is starting with a development on Mona Vale Road, on the border of Mona Vale and Pymble, in Sydney’s Northern Beaches, with around 140 apartments planned. They are eyeing off more sites across the city.

With cost pressures rising in the industry, One Living’s model is to be a vertically integrated developer-builder, so it can respond directly to the housing gap by removing the cost inefficiencies embedded in traditional residential delivery.

“We are building a platform designed to operate at scale and starting in a market where there’s a clear need for quality, attainable housing,” One Living joint managing director Joseph Scuderi said.

“It’s that missing middle – it’s that attainable end of housing… that’s what most Australians invest into and what Australians can actually afford.”

<img alt="Mona Vale" data-entity-type="file" data-entity-uuid="798dfa93-4941-4db6-a696-31e9dc18e81c" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-05-28%20at%202.31.50%E2%80%AFPM.png?VersionId=mKBqi5C_DmeiXS.AtJkcR8LQIxqCqmFi" />

GreenPoint Partners brings years of experience assembling and scaling real estate operating businesses across major markets. And Green sees a big opportunity in Australia.

“For its size, sophistication and importance to the community, Australia’s living sector has remained largely under-institutionalised, which represents significant opportunity,” Green said. “GreenPoint identified that gap, assembled the right team, and is backing One Living to build a platform that is aligned to market needs.”

Green said being a builder-developer would give the company the capacity and flexibility it required to deliver reasonably-priced homes.

“We want it to be at that attainable level; not super high end luxury but at that attainable level,” he said.

<img alt="Mona Vale" data-entity-type="file" data-entity-uuid="74a5344a-4b26-4d4a-ada3-056b1220be77" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-05-28%20at%202.32.15%E2%80%AFPM.png?VersionId=vY8hXHO4reBMdO8ZXMWCNtGZJofUPQ3j" />

&nbsp;

One Living will undertake a component of affordable housing in its schemes, which it will own and operate, and it could also run build-to-rent on some sites.

Green praised local policy settings.

“The NSW government is being very supportive, strategic and pragmatic in terms of how do we generate more supply of housing,” he said. “We think it’s actually positive for development and the bit that’s been lacking at that attainable level is that it’s lots of relatively small private developers, whereas we want to create an institutional platform.”

One Living is also&nbsp;looking at high-density projects and could take on more institutional funding in the future.

“The way we will be able to achieve economies of scale is through size,” Green added.

Joel Robinson

One Living enters Sydney's new apartment market with Northern Beaches site acquisition

It's been several years since there's been an opportunity to buy a brand new townhome in Melbourne's coastal suburb of Mordialloc. Even apartment developments in recent times have been few and far between in the area.

Local developer LDS Property identified the gap in new housing, securing a site on White Street, directly opposite&nbsp;Woodlands Golf Club Mordialloc. They've recently launched&nbsp;<a href="https://www.apartments.com.au/new-townhouses/wm-residences-mordialloc-102-white-street-mordialloc-vic-3195">WM Residences</a>, just 13 townhouses which they have already started building.

Projects by Buxton Director Heath Thompson, who is selling WM Residences, says the townhouses x that perfect middle ground be

"Mordialloc residents have had limited options to downsize within the suburb, often forcing them to look elsewhere despite long-standing ties to the area," Thompson says.

"With very little comparable new supply coming to market, projects like WM Residences are well placed, particularly as buyers look to capitalise on current conditions amid constrained supply."

[smartcode_project:default project_id=134646 project_image_fid=6109]

The development, designed by regarded architecture firm&nbsp;<a href="https://www.apartments.com.au/architects/ewert-leaf">Ewert Leaf</a>,&nbsp;adopts a deliberately restrained architectural approach, focusing on simplicity, durability and liveability rather than overt design gestures.

The boutique scale is central to the offering. With only 13 three-bedroom residences, each home is configured to prioritise functional layouts and everyday use, supported by private terraces and secure two-car garages.

Ewert Leaf’s design response leans into a calm, neutral material palette. Interiors are defined by oak flooring, white walls and soft finishes, creating a consistent and understated backdrop. The approach avoids trend-driven detailing in favour of longevity, with an emphasis on natural light and spatial clarity.

[smartcode_project:default project_id=134646 project_image_fid=6110]

Beyond aesthetics, the homes are designed to meet contemporary performance expectations. Each residence targets a minimum 6-star energy rating, incorporating double glazing, comprehensive insulation and all-electric Bosch appliances.

The project’s location supports a walkable coastal lifestyle, sitting within close proximity to Mordialloc’s foreshore, Main Street retail strip and the train station. Local cafés and dining venues, including Suburbia Deli and Hendriks Café, are within a short walk, reinforcing the area’s established neighbourhood character.

[smartcode_project:default project_id=134646 project_image_fid=6116]

While <a href="https://www.apartments.com.au/developments/mordialloc-vic-3195">Mordialloc</a> is often defined by its beach and pier, the project taps into other areas of day to day living, offering easy access to local food, casual dining and transport, rather than positioning itself purely as a lifestyle retreat.

WM Residences reflects a continued trend across Melbourne’s coastal suburbs towards smaller-scale, design-led townhouse developments, particularly on infill sites where proximity to amenity is already established.

With construction commenced prior to its market entry, the project aligns with a growing preference among buyers for developments with visible progress and defined delivery timeframes.

[smartcode_project_cta:default project_id=134646]

WM Residences fills gap in Mordialloc townhouse market

&nbsp;

Developer GURNER™ Group has revealed $1.65 billion in residential sales nationally across the 12 months to December 2025, driven largely by the continued momentum of its Docklands wellness-focused precinct, Elysium Fields.

The sales result was generated across seven projects in Victoria and New South Wales, headlined by Elysium Fields, GURNER™’s $2.75 billion mixed-use precinct planned for Harbour Esplanade in Docklands.

The project has recorded more than $500 million in sales across the first three towers, equating to around 580 apartments sold.

The first tower, Helios, has now sold out of its 240 private residences, with GURNER™ preparing to release a premium penthouse collection comprising 15 three-bedroom penthouses in coming weeks.

[smartcode_project:default project_id=144441 project_image_fid=370975]

Elysium Fields is being developed on the long-held 20,000 sqm Docklands site at 208-226 Harbour Esplanade, which had remained undeveloped for more than two decades prior to GURNER™ taking over the project around four years ago.

Construction has now commenced across four towers ranging between 18 and 30 storeys, with Hamilton Marino and Maxcon appointed as builders.

Once complete, the precinct is expected to comprise around 1,100 residences, alongside retail, hospitality and public realm uses integrated throughout the site.

[smartcode_project:default project_id=144441 project_image_fid=370981]

Designed by Fraser &amp; Partners in collaboration with GURNER™ Design House, the project has been positioned around the developer’s broader focus on wellness-led residential living.

“We don’t sell apartments. We create a true luxury lifestyle that simply doesn’t exist elsewhere in the market today,” Founder and Executive Chairman Tim Gurner said.

“To deliver that requires an extraordinary level of detail, coordination and discipline across multiple verticals, from design and hospitality through to wellness and service.”

“We’ve always believed that living extends far beyond the physical residence. It’s about how you feel the moment you arrive, how you live day-to-day, and the ecosystem that supports that.” 
[smartcode_project:default project_id=144441 project_image_fid=370977]

The project’s design places a heavy focus on landscaping, wellness amenities and biophilic design principles.

Plans include around 3,700 sqm of landscaped gardens and open space throughout the precinct, alongside a retail and dining offering spanning approximately 5,000 sqm.

The broader public realm strategy centres around what GURNER™ describes as the “Path of Life”, an urban forest and landscaped pedestrian environment intended to connect the various buildings and wellness spaces across the precinct.

The apartments themselves will incorporate a range of wellness-focused inclusions, including purified air and water systems, circadian lighting, antimicrobial surfaces, and optional in-home wellness upgrades.

[smartcode_project:default project_id=144441 project_image_fid=370980]

Gurner said the company’s experience through its Saint Haven wellness clubs had directly informed the residential offering now being incorporated into Elysium Fields.

“We’re seeing a clear global shift toward longevity, performance and proactive health,” Gurner said.

“Our role is to deliver that in a way that feels seamless, highly private and beautifully resolved within the environments we create.”

A large component of the wellness offering is planned through the resident amenity and health facilities proposed within the precinct.

That includes plans for bathing and recovery facilities spread throughout the towers, incorporating mineral pools, saunas, steam rooms, flotation therapy, red light therapy and wellness lounges.

The developer is also seeking approvals for what it describes as a “reverse ageing medical clinic” within the precinct.

[smartcode_project:default project_id=144441 project_image_fid=370978]

According to project information released by the group, the proposed facility would include cryotherapy, IV infusion therapy, infrared and dry saunas, PEMF beds, MRIs, DEXA scans, brain scans and blood analysis services.

Within the first tower, Helios, residents will also have access to a dedicated amenity offering known as the Sky Private Club.

The upper 15 levels of the building will include private lounges, dining spaces, rooftop amenities and optional private wellness studios integrated within residences.

The Helios tower itself comprises 260 apartments ranging between 60 sqm and 300 sqm, including a collection of penthouses.

That includes a planned two-storey penthouse spanning around 600 sqm with uninterrupted bay views.

The Elysium Fields precinct is being delivered in partnership with Digital Harbour Holdings, a consortium that includes the Liberman family, which controls the development rights across the Docklands site.

[smartcode_project:default project_id=144441 project_image_fid=370979]

The sales result comes as GURNER™ continues expanding its national development pipeline beyond Victoria.

“We have a strong pipeline across Australia and are now focused on scaling into key markets including New South Wales and Queensland, while continuing to build on our Melbourne base,” Gurner said.

“We currently have more than $3 billion in the market, growing to over $5 billion by October, and expect to materially outperform last year in the 2026 calendar year.”

The result also reflects the continued strength of the upper-end apartment market in Melbourne, particularly for owner-occupier-focused product with large-scale amenity and lifestyle offerings.

[smartcode_project_cta:default project_id=144441]

Record result anchored by the Group’s “utopian” Elysium Fields precinct – defying market headwinds in Docklands.

Elysium Fields drive Gurner to $1.65 billion in apartment sales over 2025

National Australia Bank (NAB) will fund <a href="https://www.apartments.com.au/new-apartments/palmera-residences-gold-coast-18-garfield-terrace-surfers-paradise-qld-4217">Palmera</a>, a $1 billion, 52-level luxury residential tower being developed by Central Equity in one of the Gold Coast’s most tightly held coastal locations at Northcliffe.

The project, launched recently by <a href="https://www.apartments.com.au/developers/central-equity">Central Equity</a>, one of Victoria’s largest private residential developers, comes at a time when construction funding for large residential developments has become increasingly competitive as lenders tighten exposure to the sector.

Multiplex has been appointed the builder, and construction is now underway.

[smartcode_project:default project_id=108274 project_image_fid=365784]

Since its first project, Central Equity has delivered more than 85 residential developments with a combined end value exceeding $8 billion.

Palmera reflects Central Equity’s growing focus on the Gold Coast luxury apartment market and continues a relationship between Central Equity and NAB that dates back to the late 1980s, when the bank funded one of Melbourne’s earliest inner-city residential towers at a time when high-rise apartment living in the CBD was largely unproven.

“NAB’s funding of Central Equity’s $36 million CBD development in the late 1980’s to the financing of the billion-dollar tower today highlights the long-term relationship between the two organisations in delivering major residential projects” said Central Equity Founder and Chairman Eddie Kutner.

He said NAB’s early support was instrumental in helping establish the company’s development model.

“When we commenced our first residential tower in the late 1980s the concept of funding off-the-plan apartments was still largely untested in Australia,” Kutner said.

“NAB recognised the opportunity early and supported the project when others were uncertain. That relationship has now continued for more than 37 years across many developments.”

[smartcode_project:default project_id=108274 project_image_fid=365771]

Central Equity was established in 1987 when Melbourne’s CBD and Southbank precinct were still dominated by warehouses and commercial buildings. Fewer than 100 residents lived in Southbank at the time, and large-scale residential development in the inner city was not widely considered.

Recognising changing demographics and lifestyle preferences, the company began developing high-rise residential projects designed to bring permanent residents into the city centre.

Central Equity has provided accommodation for approximately 40,000 residents across Melbourne’s CBD and Southbank, while also incorporating supporting infrastructure including essential lifestyle facilities like retail spaces, childcare facilities and neighbourhood activity centres.

Central Equity has spent many years assembling the Palmera development site on the corner of Garfield Terrace and Frederick Street in Northcliffe, creating a supersite of around 3,300 sqm.

The developer said the Palmera apartment tower reflects its long-term view of the Gold Coast as a growing and increasingly diversified economy.

[smartcode_project:default project_id=108274 project_image_fid=365768]

Supported by infrastructure including the light rail network, major road upgrades expanded education, hospital and medical facilities and continued expansion at the Gold Coast Airport with more international and domestic flights.

Positioned in the tightly held Northcliffe precinct, the 52-level tower will deliver 347 apartments, targeting buyers seeking a high-end coastal lifestyle, from downsizers to interstate investors.

Designed by Marchese Partners with interiors by DBI, Palmera has been conceived as a next-generation residential offering, featuring a collection of oversized apartments, with premium three-bedroom residences offering sweeping northern views stretching from Surfers Paradise through to Burleigh Heads.

[smartcode_project_cta:default project_id=108274]

NAB funds $1 billion Surfers Paradise apartment development, Palmera

Two years after completing one of the newest developments in North Sydney, developer <a href="https://www.apartments.com.au/developers/aqualand-australia">Aqualand</a> is turning its attention to the rapidly evolving St Leonards apartment market.

The developer, which completed AURA by Aqualand on North Sydney's Walker Street, has lodged plans for a 5,918 sqm site at <a href="https://www.apartments.com.au/new-apartments/33-37-herbert-street-st-leonards-nsw-2065">33-37 Herbert Street, St Leonards,</a> seeking approval for a pair of residential towers rising above a shared podium opposite Royal North Shore Hospital.

The proposal forms part of the broader transformation underway across the St Leonards-Crows Nest precinct, where former industrial and commercial sites are increasingly being redeveloped into high-density mixed-use projects tied to major transport infrastructure.

<img alt="Aqualand" data-entity-type="file" data-entity-uuid="2cc428cf-fe70-4cac-9cd5-264ad53af62c" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-05-28%20at%209.51.56%E2%80%AFAM.png?VersionId=otKSnHtbjAvAddOnovyXQMgcAwE6DMe1" />

According to the planning documents, the site sits “within the St Leonards–Crows Nest Strategic Centre, identified by the NSW Government as a key area for accommodating future jobs and housing across Sydney.”

The proposal has been designed by fjcstudio, formerly FJMT Studio, and is being progressed through the State Significant Development pathway due to its scale and affordable housing provision.

The scheme would comprise 413 apartments, including 46 affordable housing units, alongside retail and commercial uses fronting Herbert Street. The project would also include communal open space, landscaping, a swimming pool, gymnasium, children’s play areas and podium-level resident amenities.

Planning documents show the development would consist of a part-13, part-39 storey tower form positioned above a four-storey podium.

“The development comprises a unified podium that activates the street interface, and two setback towers to accommodate new housing supply while maintaining an appropriate human scale at ground level,” fjcstudio noted in its Design Report.

The northern and southern towers have been shaped to respond to the surrounding skyline while also limiting overshadowing impacts to nearby public open space, particularly Talus Reserve.

The design report said the differing tower heights were intended to “contribute to a varied skyline while responding to the surrounding built form context and solar access considerations.”

<img alt="Aqualand" data-entity-type="file" data-entity-uuid="36da62dc-ff9e-41f2-a7e3-7be38373751c" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-05-28%20at%209.51.45%E2%80%AFAM_0.png?VersionId=Mo6Rp2r.XRLTzIfg_PEEpw8NepDH8UBs" />

The site sits directly opposite Royal North Shore Hospital and within walking distance of both St Leonards Station and the new Crows Nest Metro station.

While the site itself sits just outside the formal Crows Nest Transport Oriented Development boundary, the planning documents repeatedly reference its alignment with the broader TOD objectives reshaping the Lower North Shore.

“The site is located adjacent to St Leonards Station and in close proximity to Crows Nest Metro which is within the Crows Nest Transit Orientated Development Accelerated Precinct which has been identified by the NSW Government to support housing delivery,” the Design Verification Statement noted.

According to fjcstudio, the project has been designed to respond to the broader transition occurring across St Leonards, where increasing residential density is being concentrated around transport infrastructure and employment hubs.

“The broader precinct is undergoing significant change, with a mix of existing mid-rise buildings and newer high-density developments,” the report stated.

“Recent and approved projects indicate a consistent shift toward taller built form, typically organised as tower-and-podium typologies with more active ground levels.”

The proposal includes close to 6,000 sqm of retail and commercial space across the ground floor and podium levels, designed to create a more activated street edge along Herbert Street.

Aqualand’s plans would also introduce a landscaped podium shared between the two towers, with communal open space in the form of a podium rooftop designed to support resident interaction and improve urban greening outcomes. The scheme would also introduce pocket parks at the northern and southern ends of the site, including a landscaped area at the corner of Herbert and Ella streets designed to improve pedestrian amenity and soften the streetscape.

&nbsp;

The proposal is being progressed through the NSW Government’s Housing Delivery Authority pathway, which was introduced to accelerate housing supply across the state. The application was declared State Significant Development in April 2025 following an expression of interest process.

<img alt="Aqualand" data-entity-type="file" data-entity-uuid="faf6d97d-2671-454f-b85a-fe1c6a7be608" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-05-28%20at%209.51.49%E2%80%AFAM.png?VersionId=diVd28OBVr5.YV.7prrOz.uAanwwwm7a" />

St Leonards has been particularly active with new developments in recent weeks. Developer SP Setia’s <a href="https://www.apartments.com.au/news/nsw/first-look-sp-setia-targets-st-leonards-skyline-with-40-storey-tod-tower">plans for a new 42-storey tower</a> recently went on exhibition through the same pathway, while <a href="https://www.apartments.com.au/news/nsw/first-look-stockland-plans-52-storey-538-apartment-st-leonards-tower">Stockland’s 52-storey tower proposal</a> was also recently unveiled.

Aside from the St Leonards project, which is expected to take around nine months to move through the approvals process ahead of a potential 2027 launch, Aqualand is also preparing to launch Boronia, a new apartment project in Roseville comprising around 111 apartments on Larkin Street.

The developer also has approvals in place for the next stage of the Barangaroo precinct, which will feature new residential, retail, hospitality and community uses, alongside a new metro entry across the five-hectare site.

More than 50 new retail destinations are planned for Central Barangaroo, alongside a 270-metre-long boulevard connecting Hickson Park to Nawi Cove. Together with Harbour Park, more than 50 per cent of the precinct will comprise public open space and parkland.

Larry Schlesinger

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