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The consortium that wins the rights to redevelop the Sydney convention centre at Darling Harbour will need build an additional 1,000 hotel rooms, according to the Tourism and Transport Forum (TTF).

The tourism industry lobbying group says building the right number of hotel rooms is vital to the success of the project.

“We think the number of hotel rooms that result from the development is vital to get Sydney back as the number one convention centre – and that means a hotel of 1,000-plus rooms,” said John Lee, head of the TTF, in an article in the Australian Financial Review.

Lee recalled the redevelopment of the Melbourne Convention and Exhibition Centre at South Wharf, where only an extra 250 hotel rooms were added – not enough in his view.

Currently Barangaroo developer Lend Lease and the Plenary Group are leading the two consortiums that are in the running to be awarded the $1 billion contract.

An announcement on the winning tender is expected to be made before Christmas.

Redeveloping Sydney’s International Convention, Exhibition and Entertainment Centre is one of the election promises of the NSW state government.

Construction of interim facilities on Glebe Island are due to begin in mid-2013, with the existing facilities at Darling Harbour closed from November until a re-launch in 2016.

Redevelopment plans include the building of the largest exhibition space in Australia at 40,000 square metres, the biggest meeting room space in Australia at 6,000 square metres and the biggest Australian convention hall with capacity of more than 10,000 people.

The new convention centre will be developed as a public private partnership (PPP) in conjunction with Infrastructure NSW (INSW).

The convention centre contributes up to $460 million to the NSW economy every year.

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Darling Harbour needs at least another 1,000 hotel rooms for new convention centre: Tourism and Transport Forum

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Current Moranbah residential listings offer investors the potential to earn rental returns approaching 20%, but the Queensland mining town remains at the mercy of mining companies when it comes to signing new leases.
Moranbah topped the latest list of 40 localities with the highest rental yields for houses, according to information provided by RP Data, with a<a target="_blank" href="https://www.propertyobserver.com.au/landlords/east-coast-australia-s-top-40-highest-rental-yield-suburbs-from-moranbah-to-tregear/2012112057965"> gross rental yield of 12.9%.</a>
Rents are still be advertised as high as<a target="_blank" href="https://www.realestate.com.au/property-house-qld-moranbah-408246811"> $3,500 per week for a four-bedroom house</a> but also as low as $400 per week for <a target="_blank" href="https://www.realestate.com.au/property-house-qld-moranbah-407750317">a three-bedroom house</a> with local agent John Wood of Moranbah Real Estate telling Property Observer "Moranbah has changed over to last few months with now a lot of rental stock on the market".
In June it was reported that mining giant BHP Billiton Mitsubishi Alliance (BMA) was refusing to sign new leases in <a target="_blank" href="/news">Moranbah, </a>with controversial plans for a mining camp to cheaply house 3,200 workers.
The dependence of Moranbah on mining companies paying big rents was revealed in the official census 2011 data, which shows that households (mining employees) are paying just $80 per week to rent in Moranbah, with the bulk of the rental bill picked up by their employers.
Even if mining companies do not build cheap housing, they can also reduce demand for housing by increasing fly-in-fly-out (FIFO) arrangements for their employees.
<img src="/images/stories/2012/11/moranbahmap.gif">
Indeed, in a recent Property Observer webinar, <a href="/news">Hotspotting.com.au’s Terry Ryder named the Whitsundays</a> as a fly-in-fly-out (FIFO) hotspot servicing mining towns like Moranbah. Terry Ryder did not include Moranbah on his list of investment hotspots despite returning average annual capital growth of 25% over the past 10 years.
All of this highlights what investors in single-industry mining towns should already know – that they are very high-risk investments in locations where prices and rents can be transitory and most probably have been artificially inflated.
 
<hr class="system-pagebreak">
 
Current listings show very high yield potential but many listings have leases expiring within the next few months.
Whether new leases can be renegotiated at similar weekly rental rates remains uncertain.
Current listings include <a href="https://www.realestate.com.au/property-house-qld-moranbah-110289249" target="_blank">this new four-bedroom house</a> (pictured below) listed at $759,000 by Vikki Oldfield of Vision Real Estate and rented at $2,900 per week until February.
<img src="/images/stories/2012/11/hannay.jpg" width="470">
This equates to a gross rental yield of 19.8%.
Another property offering these sorts of returns is <a target="_blank" href="https://www.realestate.com.au/property-house-qld-moranbah-111433843">this three-bedroom house</a> situated in a cul-de-sac on Bowen Court which is listed at $590,000 and is currently rented at $2,000 per week – a gross yield of nearly 18%.
<img src="/images/stories/2012/11/boewn.jpg" width="470">
RP Data records show the property last sold for $445,000 in May last year, indicating capital growth of over 30% (should it sell at the advertised price), but more staggering are the rental increases.
Three years ago, the property was listed for rent at just $650 per week.
Not all properties are offering such generous returns, with yields ranging from around 7% including <a href="https://www.realestate.com.au/property-house-qld-moranbah-111723591" target="_blank">this three-bedroom house on Ney Street (pictured below) </a>being offered at $515,000 through Julie Williamson Real Estate. The property is rented at $750 per week until February. It last sold for Last sold for $335,000 in 2005.
<img src="/images/stories/2012/11/ney.jpg" width="470">
Another listing (pictured below) by Vikki Oldfield <a target="_blank" href="https://www.realestate.com.au/property-house-qld-moranbah-112222627">is asking $710,000</a> with a current weekly rental of $1,600 per week.
<img src="/images/stories/2012/11/naumann.jpg" width="470">
However, RP Data records show the property was available for rent in April 2010 and June 2011 at the same weekly rate – suggesting anecdotally that rents may have reached their upper limit.
 
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Moranbah current listings offer yields nearing 20%, but future returns less certain

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Small investors have the opportunity to acquire a prime retail spot on tightly held Swanston Street, with a small shop on the ground floor of the iconic Manchester Unity Building listed for December 6 auction.
The vendors were swayed to offer the property to the market after a 5.6% yield was  achieved next door when Shop 2, 220 Collins Street sold earlier this year for $9,250,000 with sale negotiated by CBRE’s Josh Rutman, Mark Wizel and Max Cookes.
The<a target="_blank" href="https://www.realcommercial.com.au/property-retail-vic-melbourne-500494095"> 97 Swanston Street</a> retail space is currently tenanted by foreign exchange business Travel Money Oz, owned by ASX-listed Flight Centre, on a new seven-year lease.
The premises currently brings in net annual income of $122,494 per annum.
The shop stands on one of the busiest retail strips in the Melbourne CBD and on the high premium western side of the street between Collins Street and Bourke Street mall.
It is next door to the premises of a <a target="_blank" href="https://www.propertyobserver.com.au/retail/private-investor-snaps-up-collins-street-telstra-store-premises-for-%249.25-million-ahead-of-auction/2012032854057">Telstra corner shop at 220 Collins Street, </a>which sold to a private investor prior to auction for $9.25 million on a yield of 5.6% at the end of March.
The marketing campaign for 97 Swanston Street is also being led by CBRE.
“Anything sub-$4 million in the CBD is pretty unique,” Rutman tells Property Observer.
He says there are a number of other factors that are drawing in potential bidders.
These include that it is leased to an ASX-listed tenant on a brand-new lease bringing in $122,000 per year, with the tenant agreeing to 5% annual rent increases every anniversary of the lease.
“This means it has the potential become a positively geared asset quite quickly,” says Rutman.
The property is being sold by a group of private investors.
“It’s one of the tightly held retail strips in the CBD. I have spoken to four or five owners who have owned shops on Swanston Street for 20 to 30 years,” he says.
According to the Melbourne City Council Research Department, over 15 million pedestrians walk past the property annually, which equates to almost 50,000 per day.
“We expect the location of the property to provide continual growth over the next decade, which we believe will help drive significant interest from local, national and international investors.” says Wizel.
It is due to be offered for sale by public on-site auction at 12.30pm on December 6.
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Swanston Street retail premises listed for auction 

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Fund manager the Trilogy Capital Group has relisted the global headquarters of travel guide publisher Lonely Planet in Footscray following an unsuccessful six month sales campaign last year.
Lonely Planet, which is owned by the BBC, has leased the distinctive red-brick campus office building since 2000 and has another four years to go on its current lease.
The four-level building comprises a total lettable area of approximately 7,374 square metres, with ground-floor parking for 86 cars and a small warehouse distribution centre on-site.
<img src="/images/stories/2012/11/lp.jpg">
The lease agreement includes annual rental increases of 3.5%, with Lonely Planet paying a current net passing rental of $1.64 million per annum.
The property at<a target="_blank" href="https://www.realcommercial.com.au/property-offices-vic-footscray-5835771"> 90 Maribynong Road </a>is the sole asset that makes up Trilogy’s Melbourne campus office syndicate, a five-year fixed-term investment fund, which returned 9.82% in the 12 months to March.
Trilogy acquired the building for $14.4 million in mid-2005 and will be hoping for around $16.4 million, representing a yield of around 10%.
It was listed for sale from April to October last year with a slightly higher asking price of $17 million but failed to sell.
Trilogy head of property assets David Hogan says the fund decided to put it back on the market due to the improved market conditions compared with a year ago.
The property is being marketed by Colliers International agents Peter Bremner and Jeremy Gruzewski.
Gruzewski says the building had been refurbished to meet Lonely Planet’s requirements and has been maintained to an incredibly high standard.
“Externally, the building has an appealing brick period-style façade, however it is the unique, lofty internal open plan office accommodation that really sets this building apart from every other office building in the metropolitan office market,” he said.
“In addition, the top floor boasts stunning views back towards the Melbourne CBD skyline.”
Gruzewski says the property represented a rare opportunity for an astute investor to purchase a high yielding, fully leased commercial property less than 5km from the Melbourne CBD in a rapidly growing and thriving suburb.
“Footscray is transforming itself into a vibrant activity centre,” he said.
The three upper floors incorporate an open plan office space as well as a rooftop staff room/canteen, gymnasium and entertainment/recreation area.
Having shrunk its staff numbers by around 70 in 2011 (15% of its workforce), Lonely Planet is seeking to sub-lease up to 1,500 square metres of the first floor of the building, with the space being marketed by Richard Norman and Matthew Collins of Jones Lang LaSalle at around $200 per square metre.
The property is for sale by expressions of interest, closing Thursday December 6 at 4pm.
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Lonely Planet Melbourne headquarters relisted with $16.4 million hopes

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New York-based Australian investment banker Mark Steinert has being tipped as the person to replace Matthew Quinn as managing director and CEO of developer Stockland.
Steinert, global head of product development at UBS Global Asset Management, held talks with Stockland chairman Graham Bradley last week, according to a report in the The Australian.
His first role at UBS was as global head real estate research, a position he held for eight years.
A spokesperson for Stockland told Property Observer it had not yet made a decision about who would replace Quinn and that the search for a replacement is ongoing.
Quinn announced his decision to retire after 12 years in the role in July and is due to step down in February.
Steinert is a new name in the mix of potential candidates.
Previous names touted as possible replacements for Quinn include Australand managing director Bob Johnston, Westfield chief financial officer Peter Allen, Rod Leaver, CEO of Lend Lease Asia, former St George Bank CEO Paul Fegan, David Southon, co-founder and joint managing director of Charter Hall, veteran Macquarie banker Matthew Banks and the only internal candidate, John Schroder, current chief executive of commercial property at Stockland.
Bradley has said recently that Stockland would consider a candidate from the financial services sector as was the case with fellow listed property group GPT, which recently appointed Michael Cameron, former group chief financial officer of the Commonwealth Bank, as its managing director and CEO.
As part of his address to the Stockland AGM on October 17 Bradley said the search for a new managing director was “progressing well”.
“Following Matthew’s decision, we appointed a board sub-committee to progress the internal and external search process, and appointed a leading international executive search firm to review both local and offshore candidates.
Bradley said a suitable candidate would be an “outstanding individual capable of providing strategic leadership in an increasingly complex investment, market and regulatory environment, coupled with all the skills you would expect to find in terms of operational management, people management, business judgement and stakeholder relations appropriate to a top 50 listed company”.
No deadline has been set for making the appointment with Bradley saying at the AGM an announcement was expected “in due course”.
An announcement is expected before the end of the year.
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Expat Aussie investment banker tipped as next Stockland boss

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A Melbourne-based private investor has paid $2.6 million to acquire the premises of St Kilda food and wine bar Phamish, which sits below one of the bayside suburb’s most striking boutique apartment buildings.
The 370-square-metre <a target="_blank" href="/news">St Kilda</a> restaurant is on the ground floor of luxury apartment block 30 The Esplanade, with its curving glass facade reflecting Luna Park and the Palais Theatre live music venue across the road.
The sale price reflects a yield of 6.39% based on a net annual rental of $166,308. The square metre sale rate was $7,027.
The "quick" sale of the restaurant premises was negotiated by Savills agents Nick Peden and Clinton Baxter subject to the space being leased to Phamish restaurant on a 10-year term with five-year renewal options.
Phamish has leased the space since the building’s completion in December 2009.
“This was really prime property. A restaurant with a long-term lease, within a prestigious new residential development which was itself within arguably Melbourne’s most popular dining and entertainment precinct. It was no surprise that a purchaser snapped it up so quickly," says Peden.
“The quick sale was also an indication of the dearth of such opportunities in the market at the moment and the resultant competition for them whenever they do appear,” he says.
The vendor, who declined to be named, was the developer of the building.
The property at 30 The Esplanade is a curving glass building featuring 14 apartments designed by SJB Architects and stands between traditional terrace houses and a McDonald’s restaurant just a short walk from the St Kilda Beach Acland Street retail and food strip.
A two-bedroom apartment in the building is currently listed for sale at $1.3 million through RT Edgar Albert Park while two apartments featuring two bedrooms are for rent at $900 and $1,000 per week.
The standout feature of 30 The Esplanade is its curved glass façade, which employs a "super-imposed graphic, built into the double-glazed window units, with the semi-transparent image placed between each layer to ensure it does not fade over time," according to architects SJB.
“The image references several characteristics inherent to St Kilda’s cultural fabric; the fishnet stockings simultaneously speaks of sex, the seaside and the politics of the promenade,” explained SJB’s Michael Bialek in 2009. “St Kilda has a rich and varied history, from the artists in residence and the European immigrant community that settled in the '50s to the strong tourist numbers that visit the area throughout the year,” he said.
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Investor snaps up Phamish restaurant premises on St Kilda Esplanade for $2.6 million

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ISPT's acquisition of a 50% share of Myer Centre in Brisbane from Colonial First State Retail Property Trust is the biggest shopping centre transaction for the year to date, according to figures compiled by Jones Lang LaSalle.
The sale of the <a href="https://www.propertyobserver.com.au/retail/new-york-based-blackstone-group-buys-top-ryde-mall-for-%24341-million/2012111957931" target="_blank">indebted Top Ryde City shopping centre</a> to US private equity firm the Blackstone Group this week for $341 million ranks as the second biggest deal of the year.
Jones Lang LaSalle head of retail investment Simon Rooney, who advised on all but one of the top 10 transactions, says the sale of the <a href="https://www.propertyobserver.com.au/retail/perron-group-to-acquire-half-stake-in-three-centro-centres-for-%24690-million-setting-post-gfc-commercial-retail-record/2012051754740" target="_blank">Centro portfolio to the Perron Group </a>was clearly the most significant deal of the year. The Perron Group acquired 50% stakes in the  Colonnades in South Australia, the Glen in Victoria and the Galleria in Western Australia for a combined $690.4 million.
Click to enlarge
<a href="/images/stories/2012/11/jllnov20.gif" rel="shadowbox" title="Click to enlarge"><img src="/images/stories/2012/11/jllnov20thumb.gif"></a>
Source: Jones Lang LaSalle
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The top 10 Australian shopping centre deals of 2012: Jones Lang LaSalle

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Aussie Home Loans boss John Symond is doing his bit for prostate cancer research and male mental health awareness by growing a moustache (and tweeting photos of its progress) for the now traditional Movember charity campaign.
Along with new moustache, the Aussie founder has jestingly adopted a new name – John "SyMO”.
<a target="_blank" href="https://twitter.com/Aussie"><img src="/images/stories/2012/11/aussietweet.jpg"></a>
<img src="/images/stories/2012/11/symo.jpg">
Movember was officially started in Melbourne in 2004 and calls on men to grow moustaches over the course of November to raise awareness and donations to tackle prostate cancer and depression.
Others in the industry taking part in the campaign include 27 employees <a href="https://www.propertyobserver.com.au/https://au.movember.com/team/488929" target="_blank">from unlisted property fund manager ISPT</a>, who have to date raised over $15,000 for Movember.
Melbourne-based property valuers and advisers Opteon have raised nearly $4,000, with 25 members of the team growing moustaches.
James Clark, owner of <a href="https://raywhitenundah.com.au/news/movember-at-ray-white-nundah/" target="_blank">Ray White Nundah in Brisbane</a>, is also part of the campaign, as are <a href="https://mobro.co/deanwolfe" target="_blank">Dean Wolfe </a>and <a href="https://mobro.co/chrischapman8" target="_blank">Chris Chapman </a>from Fletcher's Eltham Office.
Potts Point estate agent Simon Polito at Laing Real Estate says he's <a href="https://mobro.co/simonpolito" target="_blank">donating his face </a>to the cause by growing a moustache for the month.
"My Mo sparks conversations, and generates some laughs; all in the name of raising vital awareness and funds for prostate cancer and male mental health.

He says he's passionate about men's health as 1 in 9 men will be diagnosed with prostate cancer in their lifetime; this year 20,000 new cases of the disease will be diagnosed and 1 in 8 men will experience depression in their lifetime.
Despite signs of a softening local economy, NAB’s inaugural Charitable Giving Index has found more Australians are putting their hands in their pockets for charities.
The index found that charitable giving in the seven months to July 2012 increased by 4.7% from the previous year and the average annual donation per donor increased 0.7% to $292.
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Aussie John “SyMO” joins property industry Movember charity campaign

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RBA governor Glenn Stevens has raised expectations for a stronger residential building recovery as well as the likelihood that there will be further rate cuts.
In a speech in Melbourne last night, he said the bank’s main concern was keeping inflation in check while ensuring sustainable growth and pointed out that it was “prudent to sit still for the moment”.
But he indicated a rosier outlook for the struggling residential building sector, with “some of the pre?conditions” needed for a stronger recovery in dwelling construction “coming into place”.
“One area of stronger potential demand growth is dwelling construction, which has been unusually weak,” said Stevens in his address to the Committee for Economic Development of Australia (CEDA) Annual Dinner in Melbourne.
“Various explanations have been offered – interest rates too high, housing prices falling, zoning restrictions, planning delays, construction costs, lack of ‘confidence’, all have featured.
“At present, at least some of the pre?conditions one might expect to be needed for higher construction seem to be coming into place.
“Interest rates have declined, dwelling prices seem to have stopped falling, rental yields have risen, and the availability of tradespeople is assessed as having improved. We have, moreover, seen a rise in approvals to build. So there is some evidence of a turning point, albeit a belated one,” he said.
During the speech, Stevens re-affirmed that the RBA maintained its easing bias and that the decision to leave the cash rate on hold in November was a finely balanced one, with the board assessing whether other areas of domestic demand would start to strengthen as “the peak in the investment phase of the mining boom now coming into view”.
He said the question the Reserve Bank Board tried to answer every month when it sat down to decide the stance of monetary policy is will the net effect of all the different forces shaping the economy (the mining boom peaking, dwelling construction rising, business investment demand subdued, the government aiming for a budget surplus) “mean that aggregate demand rises roughly in line with the economy's supply potential over the next couple of years, or will a significant gap emerge?”
“As of the most recent meeting, as the minutes released earlier today show, the Board felt that further easing might be required over time.
“The board was also conscious, though, that a significant easing of policy had already been put in place, the effects of which were still coming through and would be for a while.
“In addition, the latest inflation data, while not a major problem, were a bit on the high side, and the gloom internationally had lifted just a little.
“So it seemed prudent to sit still for the moment.  Looking ahead, the question we will be asking is whether the current settings will appropriately foster conditions that will be consistent with our objectives – sustainable growth and inflation at 2% to 3%.
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Pre-conditions in place for stronger residential building pick-up but further rate cut may be needed: Glenn Stevens

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Selling Houses Australia television host Andrew Winter has downplayed the impact that overseas housing trends and sentiment have on the Australian housing market and says it remains a “relatively safe haven for real estate and for many nationalities”.
Winter says that in the past overseas trends have had a negligible impact on the "mass housing stock" and only really impacted at the very top end of the market – the “elite bunch” buying homes worth over $30 million.
But in a column for News Limited, Winter says global housing trends can influence demand for property in some suburbs that may be popular with a certain type of overseas buyer, for example buyers from the UK or from Asia.
The other impact of global housing trends, he says, is its ability to influence "our perception of our own housing market”, which has made Australians more nervous about being “infected” which can turn into a self-fulfilling prophecy.
Winter says Australians should bear in though that there are many differences between our market and overseas housing markets, including a different banking system, low mortgage default rates and an undersupply of housing.
“So don't let overseas sentiment unnecessarily influence you, but do keep an eye on the demographic mix of your suburb. If it is changing, overseas influence on your local market can be closer than you think,” he says.
 
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Don't let overseas sentiment unnecessarily influence how you feel about our housing market: Andrew Winter

<a href="https://www.apartments.com.au/developers/consolidated-properties">Consolidated Properties Group</a> (CPG) is approaching the launch of its latest Brisbane riverfront development, Castile, on the dress circle Skyring Terrace in Newstead.

VIP buyers are now being engaged, with a full public sales launch coming later this year.

Positioned as the final opportunity to secure a new absolute riverfront residence on the East bank of Newstead, Teneriffe or New Farm, Castile at 47 Skyring Terrace has been designed by <a href="https://www.apartments.com.au/architects/woods-bagot">Woods Bagot</a> as a timeless addition to the Brisbane skyline.&nbsp;

[smartcode_project:default project_id=150489 project_image_fid=371113]

The name Castile draws on themes of permanence, sophistication and legacy, reflecting a broader vision centred on enduring architecture and timelessness in the rarest of riverfront positions.&nbsp;

CPG Chairman and CEO Don O’Rorke said the project had been envisioned as a future Brisbane icon.&nbsp;

“With 47 metres of direct river frontage and never to be built out views, 47 Skyring Terrace is the definitive address on the Brisbane River,” O’Rorke said.&nbsp;

[smartcode_project:default project_id=150489 project_image_fid=371114]

“Rather than following trend-based apartment design, Castile draws inspiration from Brisbane’s great heritage buildings, reinterpreting classical architecture into a contemporary riverfront landmark designed to stand proudly for the next 100 years,” he said.&nbsp;

The approved development will comprise 227 apartments across a 25-storey tower alongside a boutique six-storey riverfront building of just 12 residences.&nbsp;

Construction is scheduled to commence in September 2026.

[smartcode_project_cta:default project_id=150489]

Joel Robinson

CPG unveils Castile Newstead ahead of upcoming sales launch

Australia’s online shopping habits have shifted dramatically over the last decade. As eCommerce volumes surged, so too did the frustrations that came with traditional parcel delivery: missed deliveries, long Post Office queues, parcel theft and the challenge of being home during business hours.

Australia Post’s Parcel Lockers emerged as one of the more practical responses to that changing consumer behaviour.

What started as a relatively niche delivery option has evolved into a nationwide network of more than 1,400 self-service Parcel Lockers positioned at train stations, shopping centres, supermarkets and Post Offices across the country. The system allows Australians to send, collect and return parcels 24 hours a day, fundamentally changing how many people interact with deliveries.

The appeal is relatively straightforward: flexibility.

Instead of waiting at home for a delivery driver or rushing to a Post Office before closing time, users can direct eligible parcels to a Parcel Locker location of their choice. Once the parcel arrives, Australia Post sends a notification with a collection code or QR access through the AusPost app, allowing customers to retrieve their package at any time within the collection window.

For apartment residents in particular, the system has become increasingly valuable.

Higher-density living has created logistical challenges around deliveries, especially in buildings without concierge services or secure parcel rooms. Missed deliveries are common, while parcel theft has become an increasing concern as online shopping volumes continue to rise.

Australia Post itself has repeatedly highlighted the growing issue of “porch pirates” during peak shopping periods, encouraging customers to use Parcel Lockers as a safer alternative to unattended home deliveries.

That security aspect is one of the key reasons the Australia Post Parcel Locker network has grown so rapidly.

Parcel Lockers are positioned as secure, monitored collection points that reduce the risk of theft while also improving delivery efficiency for Australia Post. Instead of multiple redelivery attempts, parcels can be consolidated into a single secure destination.

The Parcel Lockers themselves are free to use through a MyPost account and support a range of parcel sizes up to 16 kilograms and dimensions of approximately 35 x 44 x 61 centimetres.

Beyond receiving parcels, the system has increasingly become integrated into the broader eCommerce ecosystem.

Customers can now use Parcel Lockers to return online purchases, while retailers have embraced the model as a way to improve delivery success rates and reduce friction in the shopping process. Australia Post has actively expanded partnerships with major retailers and promoted Parcel Lockers as part of a broader out-of-home strategy.

The timing of that expansion aligns with broader changes in Australian shopping behaviour.

The acceleration of online retail during and after the pandemic placed enormous pressure on delivery infrastructure. Parcel volumes reached record highs, particularly during Black Friday and Christmas periods, with Australia Post delivering more than 100 million parcels during peak festive seasons.

That growth forced logistics providers to rethink the “last mile” of delivery, widely regarded as the most expensive and operationally difficult stage of the process.

Parcel Locker systems have increasingly been viewed as part of the long-term solution.

The concept itself is not unique to Australia. Parcel Locker networks have become common globally, particularly across Europe and Asia, where dense urban environments and apartment living create similar logistical challenges. But Australia’s geography and suburban sprawl made adoption slower initially.

Now, however, the convenience factor is driving mainstream usage.

For commuters, Parcel Lockers near train stations allow parcels to be collected on the way home from work. For apartment dwellers, they remove the uncertainty around access and missed deliveries.

The rise of the AusPost app has also streamlined the experience, centralising notifications, tracking and Parcel Locker access into a single platform. Australia Post has increasingly pushed customers toward app-based delivery management, partly as a way to combat phishing scams and fake delivery notifications, which have become more sophisticated in recent years.

The Parcel Locker model is also beginning to influence property development itself.

Parcel management has become a growing consideration in apartment building design, particularly as online shopping becomes embedded in everyday life. Many new residential developments are now incorporating dedicated parcel rooms or Parcel Locker systems into foyers and communal spaces.

For developers, parcel management is increasingly viewed as part of the broader resident amenity offering, alongside gyms, wellness spaces and communal work areas.

That reflects a wider evolution in how residential buildings are designed.

Apartment buyers are placing greater emphasis on convenience, security and operational functionality, particularly in higher-density urban environments. Parcel delivery, once considered a minor operational detail, has become an increasingly important part of that equation.

Australia Post’s Parcel Locker network sits at the centre of that behavioural shift.

What began as a simple alternative delivery option has evolved into a key piece of infrastructure supporting Australia’s growing eCommerce economy and changing urban lifestyles.

And as online shopping continues to expand, the role of Parcel Lockers is likely to become even more embedded in how Australians live, shop and receive goods.

How Australia Post Parcel Lockers changed parcel delivery convenience in Australia

Perth’s new apartment market recorded its strongest quarter of sales since Q4 2021, with 412 apartments sold in Q1 2026 and a record quarterly sold value of $537 million, according to Urbis’ latest Apartment Essentials results.

Urbis said the March quarter result reflects strong, highly product‑specific demand across both ends of the market, from more attainable projects delivering at scale, through to premium stock being absorbed by equity‑rich downsizers.&nbsp;

David Cresp, Partner at Urbis, said the key story in Perth is not demand, it is the market’s ability to convert demand into delivered housing.&nbsp;

“This is the strongest sales quarter since Q4 2021, and it reinforces that demand in Perth is real and it’s local,” David Cresp said. “But the task now is delivery, turning that demand into projects that can actually be built and completed.”&nbsp;

[smartcode_project:default project_id=110291 project_image_fid=302785]

<h2>Affordable product leads, premium demand remains resilient</h2>

Sales in Q1 were led by more affordable projects, with The Boulevard (SKS Group) recording 115 sales in the quarter, the presentation noting this is only the second time a single project has surpassed 100 quarterly sales. The project was able to offer more affordable housing product right next to a train station.&nbsp;

Palmyra West (Finbar) also delivered strong results with 28 sales in Q1, following 84 sales in Q4, with an average price of under $800,000, underscoring depth of demand for well‑located, attainable new stock.&nbsp;

At the premium end, Urbis said downsizer demand is continuing, with the results highlighting Romeo (Applecross, Finbar) recording 75 sales and reaching almost 50% sold in one quarter.

Jual (Shenton Park, Celsius Property) also posted a strong quarter with 28 sales, reaching 39% sold in one quarter.

Urbis noted that Perth apartment demand is not speculative, not investor‑led, and not uniform, describing it as localised, often equity‑driven and highly product‑specific, a pattern reflected in the polarisation between strong “attainable” performers and premium downsizer product.&nbsp;

[smartcode_project:default project_id=148957 project_image_fid=364102]

<h2>Prices underpinned by costs, and the delivery risk is growing</h2>

Urbis said pricing pressure is cost not demand‑driven: construction costs and delivery risk are now a central constraint, with the results noting build costs remain elevated and volatile, and that energy, fuel and labour uncertainty weigh on feasibility.

David Cresp said a growing challenge for private Build‑to‑Sell developers is simply securing a builder in the current environment.

“Developers are really feeling the pressure from a building market that was operating at capacity and securing a builder is challenging,” David Cresp said, adding that even where a builder can be secured, “trying to get to the price that makes the development financially viable is incredibly challenging in the current market.”&nbsp;

Urbis’ broader WA commentary also notes that industry remains at or above capacity with lot and housing creation, and that many builders are limiting new sales to manage stretched workforces and fixed‑price contract pressures, conditions that flow directly into apartment feasibility and delivery timing.

[smartcode_project:default project_id=108869 project_image_fid=317905]

<h2>Supply: improving later, but still constrained, and Perth lags eastern benchmarks</h2>

While near‑term supply remains constrained, Urbis’ forecast shows completions lifting “Supply is forecast to be back above 1,500 apartments per annum for the first time since 2019”, with 1,775 completions forecast for 2026, and volumes remaining above that level over the following years.&nbsp;

Looking further ahead, completions are forecast to reach 2,500 in 2028, with the report noting 32% of that total is social/affordable, reflecting the role of government‑supported delivery in rebuilding the pipeline.&nbsp;

However, Urbis said Perth remains behind comparable markets on pipeline scale. In a national comparison of projects under construction, the report shows under construction Perth Build‑to‑Sell (BTS) at 3,446 apartments versus the Gold Coast at 7,922. Mr Cresp said “The challenge for Perth is how to we grow the delivery pipeline”.

Urbis’ conclusion is that Perth’s market is increasingly defined by product discipline and delivery certainty, with the research identifying “delivery certainty is key” and calling out builder risk and procurement models as core success factors, alongside “timing and staging”.&nbsp;

Perth apartment sales hit strongest pace since late 2021 as builder capacity tightens

<a href="https://www.apartments.com.au/developers/sammut-developments">Sammut Group</a> has secured development approval for its latest Brisbane apartment project, marking the Sydney developer’s next step in expanding its Queensland pipeline following the success of its debut Gold Coast development, Coast.

The approved project at <a href="https://www.apartments.com.au/new-apartments/44-glen-road-toowong-qld-4066">44 Glen Road, </a><a href="https://www.apartments.com.au/developments/toowong-qld-4066">Toowong</a> will deliver a 15-storey riverfront apartment building with 42 residences, significantly increasing the scale of the site’s previous approval for a smaller luxury scheme. Designed by Bureau^proberts, the development will comprise a mix of predominantly four-bedroom and two-bedroom apartments positioned to maximise Brisbane River and city views.

Sammut Director Julian Sammut said the group had been actively searching Brisbane for several years before identifying Toowong as the right fit.

“Brisbane was the right step for Sammut,” Sammut said.

“With the success of Coast we thought we should definitely look to do more in Queensland alone. We then pushed up to look at Brisbane. We've been looking for I'd say two to three years actually and it was hard to find the right location.”

<img alt="Sammut makes Brisbane apartment play" data-entity-type="" data-entity-uuid="" src="https://res.cloudinary.com/dz9xllyip/image/fetch/f_auto,c_limit,w_1440,q_75/https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/field/image/Screenshot%202025-12-23%20at%203.27.14%E2%80%AFPM.png?VersionId=dYAVIL7qdcGA8ojvkslSrLjczXFejSSx" />

Sammut said suburbs including New Farm and Teneriffe were considered before the group ultimately focused on Toowong due to its strong downsizer demographic and limited supply of developable riverfront land.

The site was acquired off-market after what Sammut described as a lengthy negotiation and planning process, with the developer pursuing an uplift to the original approval.

“We are DA approved now which is very exciting,” Sammut said.

“We've had our change approval come through and we've obviously doubled the height, 15 storeys plus rooftop. We've got 42 amazing apartments that are going to be coming to market soon.”

<img alt="Sammut makes Brisbane apartment play" data-entity-type="" data-entity-uuid="" src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,dpr_2.0,q_auto:good/https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202025-12-23%20at%203.27.26%E2%80%AFPM.png?VersionId=ohkRkY0dIZlqdfME2EZePsCQavRiBadE" />

Bureau^proberts said the design responds to Toowong’s evolving urban character, balancing contemporary apartment living with the area’s established residential identity.

“A place where traditional Queensland living has taken place for centuries; Toowong is seeing a shift of contemporary influence, commercial and retail hubs mixed with well-considered residential offerings – all the while maintaining its character and charm,” the architect noted in planning documents submitted to Brisbane City Council.

The architecture practice said the project’s form was shaped by its riverfront setting, flood considerations, neighbouring building scales, and view corridors.

“They said the mix of four and two-bedroom apartments capture the ‘fundamental qualities of Queenslander living,’ translated into the context of a contemporary subtropical building.”

The development sits just off Coronation Drive within walking distance of Toowong’s retail precinct and the upgraded Regatta ferry terminal, while also benefiting from proximity to the incoming green bridge connection to West End. Sammut said the accessibility and amenity offering were central to the site’s appeal.

The approval adds to growing residential activity along the Toowong riverfront, joining nearby projects including Consolidated Properties’ Monarch Residences and Spyre Group’s ARC Residences.

Sammut secures approval for debut Brisbane apartment development in Toowong

Developer Lanevick is heading back into Sydney’s apartment market after focusing more heavily on the luxury townhouse and terrace sector in recent years.

Lanevick, founded and directed by Steve Maroun, is expecting to receive approval in the coming months for a new apartment development in Gladesville, with the aim to launch it to the market later this year.

The 51-apartment project, designed by Studio Johnston, will comprise a mix of one-, two-, and three-bedroom apartments positioned toward the Hunters Hill downsizer market.

“Traditionally it’s been difficult for people in that market to downsize because there just hasn’t been the right product available,” Maroun said.

“We’re targeting buyers who might have 30 to 40 per cent of their house value sitting in the bank after downsizing.

“They still want good spacious entertaining areas, they still want quality design, but they also want flexibility and the ability to enjoy life a bit more after working hard for a long time.”

The project sits near Boronia Park and within close proximity to the Parramatta River foreshore, an area Maroun says offers more of a Hunters Hill lifestyle than a traditional apartment precinct.

“From a lifestyle perspective, it’s really more Hunters Hill than Gladesville,” Maroun said. “You’re close to the foreshore, close to parklands, and still connected back into the village precinct.”

From level four and above, apartments will capture water views&nbsp;toward Sydney Harbour. Communal amenity will include rooftop entertaining areas, wellness spaces, and a gym tailored toward owner-occupier buyers.

“We’ve really designed these apartments around that buyer coming from the Hunters Hill LGA and what they’re actually looking for in their next chapter.”

The proposed development has also been designed to respond to the changing character of the broader Gladesville town centre, where a growing number of mixed-use and residential proposals are expected to emerge over the coming years.

“Gladesville presented a rare opportunity to deliver a genuinely design-led residential project within an evolving lifestyle precinct, just moments from the growing Gladesville town centre, and we’ve approached the project with a strong focus on architecture, liveability and long-term community value,” Maroun said.

Maroun said Lanevick saw a first-mover advantage within the precinct as planning controls continue to evolve to accommodate greater housing density.

“We think there’s a real opportunity there that hasn’t really been serviced properly yet,” he said.

“There’s going to be a broader evolution of the whole Gladesville village precinct over time, particularly with more activation and mixed-use outcomes.”

The Venus Street proposal will include a commercial and retail component at ground level designed to contribute to that evolving streetscape activation.

“A big part of the thinking was how do you activate that area properly and create more vibrancy and amenity, which is what Hunters Hill has been looking for,” Maroun said.

Lanevick’s focus since 2020 has largely been on smaller-scale luxury townhouse and terrace developments. The developer recently completed Royale Randwick, also designed by Studio Johnston, where prices reached $3.65 million. The project was featured in the UDIA NSW 2026 Professional Development Prospectus and was also named a finalist for Development of the Year.

&nbsp;

Larry Schlesinger

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