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A Brisbane pub asset that figures in the top 10 gaming hotels in Queensland is up for sale for an expected $30 million.
The hotel has hit the market amid a backdrop of high-profile hotel transactions in 2016, with the most recent being the Colombian Hotel in Sydney for about $20 million.
Ray White’s Andrew Jolliffe and CBRE's Glenn Price have been appointed to sell the large-format Acacia Ridge Hotel in Brisbane's South West Corridor. 
Joliffe has been instrumental in other prominent hotel deals in NSW such as Parramatta's $60 million Albion Hotel and The Colombian Hotel. 
According to him, market thirst for A grade freehold property such as the 18,450 sqm Acacia Ridge Tavern site remains unquenched. 
"We've seen the depth of the market tested several times this year in gateway cities across the Australian East Coast, and the almost invariable result has been that high quality assets which enjoy a confluence of both scale and opportunity remain compelling and commensurately sought after by well-informed capital,” said Jolliffe. 
Located at <a href="https://www.realcommercial.com.au/property-hotel+leisure-qld-acacia+ridge-501070147" target="_blank">386 Beaudesert Road</a> in the blue collar industrial precinct of Acacia Ridge, The Acacia Ridge Hotel has benefited from the expansion of surrounding residential suburbs including Sunny Bank, Sunny Bank Hills and the $600 million Cornerstone Living master plan development at Cooper Plains. 
<img src="/images/2016/10/04/Acacia3.jpg" alt="">
Sitting next to the hotel is the Acacia Ridge Intermodal Freight Terminal, which services rail and road freight from the broader Queensland logistics network.
CBRE's Price added that the major land size upon which the hotel is located would also provide an investor with ancillary mixed use, or wholesale alternative opportunities. 
The Acacia Ridge Hotel is regarded as one of the most sought after hotel properties in Queensland, and recently underwent a renovation. It has figured consistently in the state’s top 10 gaming hotels ranked by profit. 
It has 45 gaming machines, a large format drive-through bottle shop, bars and conference facilities as well as a 34-room accommodation centre.
The hotel will be sold through an expressions of interest process ending late October. It is expected to draw wide investor interest.
The Commonwealth Games in 2018 are an added boost, said Joliffe.
“We are bringing to the market a prime 18,740 sqm commercial property holding, set upon a major arterial road and which has historically generated significant annual profit.”
The hotel was bought by Sydney investors Peter Calligeros and Stephen Farley for $16 million in 2014, according to the Australian Financial Review.
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Brisbane’s Acacia Ridge Hotel hits the market with $30 million expectations

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A freehold motel in Tasmania has changed hands for $649,000. The vendor was keen to retire, so the selling agents suggested it was priced to sell below value.
Masons Cottages at <a href="https://www.realcommercial.com.au/property-hotel+leisure-tas-taranna-501264607" target="_blank">5741 Arthur Highway, Taranna, Tas 7180</a> is a solid brick motel comprising three adjacent titles totalling 2937 square metres. 
The first title has two attached studio apartments, a large shed and two smaller sheds. The second has three cottages and guest BBQ, while the third has the manager’s residence and other amenities.
The property was offered as a going concer and the content of the cottages and studios were offered on a walk-in walk-out basis. 
The manager's residence has three good sized bedrooms, two living areas, a dining area, kitchen, separate walk in pantry, bathroom (with bath and separate shower) and separate toilet. It also contains the office/reception.
The business has been in operation since 1998 and it has been in the hands of the current owners since 2007. Its turnover in 2014/2015 was $126,000 with adjusted profits at $71,000. The business returns around 11% per annum and has good visibility and online reviews, according to the property’s description.
Masons Cottages is located on Tasman Peninsula, just 10km from the famous Port Arthur Penal Settlement. It has easy access to Hobart, being 70km by road from the Hobart Airport and 86 km by road from the CBD. 
There are several bushwalks in the nearby area, from easy to quite difficult, including one of Tasmania's best-known bush walks to Cape Huay.
The property was sold by Alex Omran of National Brokers.
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Tassie motel sells at $649,000

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Doughnut Time has leased a shop in Manly Corso on Sydney’s North Shore, as the confectionary chain continues to expand its footprint across Australia.
Doughnut Time signed a five-year lease on the hole-in-the-wall retail shop at 2A The Corso, which comprises 40 sqm retail space and a 24 sqm basement area.
The rental is $125,000 net per annum and the deal reflects a rate of $3,850 per square metre. 
The Corso enjoys a high volume of foot traffic from the Manly ferry. 
CBRE’s Toby Silk brokered the lease on behalf of a private lessor. 
“The Corso is one of the most desirable locations for retailers and eateries on Sydney’s North Shore, capitalising on the some eight million visitors that travel to Manly each year,” said Silk. 
The deal follows Doughnut Time’s recent expansion from a small hole-in-the-wall store in Brisbane Fortitude Valley some 16 months ago to more than 27 stores, with outlets in Brisbane, Sydney, Melbourne and the Gold Coast.  
The deal is one of a number recent deals in Manly’s commercial market transacted by CBRE, with a recent office lease in Rialto Lane further evidencing the area’s growing appeal. 
Behaviour design experts Tobias &amp; Tobias has committed to a four-year term on a brand new office space on the second level of 29 Rialto Lane.
Comprising a net lettable area of 129 sqm, the property was rented out for $115,000 per annum, at $891 per sqm.
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Doughnut Time hits a sweet spot in Sydney's Manly

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The Inland Oasis Motel in Queensland’s Mt Isa is back on the market with price expectations of $1.1 million after failing to sell at auction earlier.
The 55-room motel at 195 Barkly Highway sits on a 7,388 sqm site, and is the first accommodation on the northern entry from the airport into Mt Isa.
All the rooms are ensuite and there is a bar and swimming pool as well. There is also a four-bedroom manager’s residence. 
Neil Scanlan of Colliers International is the listing agent.
The property went to auction in June after not finding a buyer, it was under contract by a local purchase. It failed to settle and has been put back on the market, according to Scanlan.
According to the description, the property is likely to attract an owner operator or investor seeking to capitalise on a repositioning, redevelopment or alternate use of the property.
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Mt Isa’s Inland Oasis Motel passed at auction, back on the market

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Perth-based syndicate Kerching Capital has purchased its third IGA-anchored shopping centre in Queensland for nearly $10.4 million as it continues to look east to grow its footprint in the retail investment market.
The property investment group signed the sale contract on Sandstone Village – a neighbourhood shopping centre located in the Brisbane suburb of Sandstone Point. The sale reflects a yield of nearly seven percent.
The Sandstone Village deal follows the nearly $20 million deal for Calliope Shopping Centre in 2015 for Kerching Capital.   
The centre has a net lettable area of 2,289 sqm and is anchored by a Supa IGA, medical practice and other retailers including BWS. 
CBRE’s Nick Willis and Michael Hedger transacted on behalf of Properties and Pathways. 
The decision to sell was in line with Properties and Pathways’ growth strategy, said Willis and highlighted the growing momentum in the interstate market, with more investors opting to search outside their geographic boundaries for opportunities. 
“Liquidity for interstate retail investment transactions is becoming increasingly prevalent as investors search further for suitable opportunities and the market continues to strengthen,” Willis said. 
Properties &amp; Pathways’ Director Cal Doggett said the sale achieved a fantastic result for its investors and also supported the company’s longer-term growth strategy. 
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Perth’s Kerching Capital buys shopping centre in Brisbane for $10.4 million

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A Coles-anchored shopping centre at Narromine, near Dubbo in central New South Wales, has recently been snapped up by a private investor for $4.18 million.
The deal illustrates the appeal of performing neighbourhood-style shopping centres in regional locations with investors looking to reap gains from retail. 
Kierath’s Shopping Square at 76 Dandaloo Street features a 2,141 sqm Coles Supermarket on a long-term lease as well as a Liquorland, six specialty tenancies and an ATM.
The fully-leased property sits on a 5,143 sqm site in the commercial hub of Narromine, a 20-minute drive from Dubbo. 
The sale was through Sentinel Property Group, which acquired the shopping centre in 2015 as part of three regional NSW shopping centres in Bathurst, Narromine and Wellington purchased in one line from Charter Hall Retail REIT.
Sentinel managing director Warren Ebert said neighbourhood-style shopping centres in regional locations such as Narromine have been a focus of the company’s growth strategy in recent years.
“We identified this asset class at a time when it was unloved by others but it is now very much back in favour and attracting increased attention from investors,” he said.
“Half of our responsibility to our investors is to buy at the right time, and the other half is to sell at the right time. Given the market demand that is now chasing this style of shopping centre, we felt it was the opportune time to divest our Narromine asset for the benefit of our investors.”
The Narromine shopping centre was an asset of the open-ended pooled Sentinel Countrywide Retail Trust, which also owns shopping centres in Broken Hill, Dubbo, Bathust and Wellington in NSW and Atherton, Townsville and Emerald (x2) in QLD. Sentinel also owns retail assets throughout Australia through both pooled and stand-alone Trusts.
 The Narromine sale was Sentinel’s eighth sold property in the last two years. .
Established in 2010, Sentinel (<a href="https://www.sentinelpg.com.au/">www.sentinelpg.com.a</a>u.) is among Australia’s top unlisted commercial property fund managers, with a portfolio of 43 retail, industrial, office, land, tourism and agribusiness assets valued at more than $1 billion.
It has occupied the No. 1 spot on the PCA/IPD (Property Council of Australia/Investment Property Databank) Non-Core Property Fund Index 42 of the last 49 months.
The index, introduced in October 2011, is backed by the global equity indexes of Morgan Stanley Capital International (MSCI) and is based on total fund performance.
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Fund manager Sentinel divests from shopping centre in central NSW for $4.18 million

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The traditional Victorian terrace home is seeing big change, as smaller lot sizes and buyers who have family elders staying with them redefine the family home.
Developer Mirvac is adapting to this shift with its 240 terrace-style homes at its Tullamore masterplanned community in Melbourne’s Doncaster, with the 134 released to date selling out. 
The emerging shift towards multi-generational living coupled with the unique needs of empty nesters has led to a reinvention of the traditional family home, according to Mirvac. 
Multi-storey designs on smaller blocks of land that feature private downstairs quarters are increasingly becoming the norm, over traditionally expansive single-level family homes. Many buyers are requesting studies and home office areas on the ground floor to be changed into self-contained master suites for older generations of families to live in.
In addition, attached tri-level homes that share common walls are providing a new take on the traditional Victorian terrace in new-build communities. 
Mirvac’s head of Residential, John Carfi, said in recent months the company’s architects had redesigned a swathe of homes in Melbourne to cater to the changing needs of buyers. 
“The traditional family home is undergoing a major makeover as our largest demographic – the baby boomers – ages and their housing needs change,” he said. 
“Our ageing population, coupled with record migration, is resulting in a new style of family home that costs less to maintain and is more flexible in its layout.” 
Tullamore has seen strong interest from international families, among whom multi-generational living is the norm, according to Mirvac.
At Tullamore, Mirvac has also introduced some feng shui elements to cater to the market.
“This is a new era in housing that will change the look and feel of parts of our suburbs, just as duplexes and townhouses did in the 1990s,” he said.
Mirvac has a pipeline of 14,000 new dwellings across Australia, which are expected to add to the market over the next four years, 
Mirvac architect Andrew La, behind the home designs at Tullamore, said a key factor in the evolution of housing was the increasing demand for smaller lot sizes by purchasers who don’t want a large backyard to take care of. 
Over the past five years, average lot sizes across Australia have shrunk. However, at Tullamore, Mirvac has increased lot sizes for its premium homes that offer city views and access to an adjacent reserve. 
“The lock and leave lifestyle whereby a resident can enjoy less maintenance on a property is a key factor in new home design today,” La said. 
“It is resulting in a reinvention of the traditional Victorian terrace home. With shared walls and height across three levels, the modern Victorian home offers purchasers much less maintenance, without compromising on space or style.”
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Mirvac sees shift in traditional family homes with generational living  

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The last stage of the apartment project in Sydney’s Summer Hill, known as The Flour Mill, which innovates on the concept of the original flour mill there, will be launched officially on September 24.
The original flour mill was built by Mungo Scott in the 1920s. It was redesigned by HASSELL and developed by EG and Daiwa House. 
Construction on The Flour Mill began in early 2015 and the final stage will unveil 135 studios, one, two and three-bedroom apartments located across the remaining buildings which comprise the Durum Silos, The Wheatstore and The Granary. 
The residential development comprises 360 apartments and terraces surrounded by landscaped communal gardens, retail spaces and easy access to the light rail and train station. 
Since its launch in 2014, Stage 1 and Stage 2 have sold completely. 
The four circular towers of the original wheat silos, dubbed the Durum Silos now form 56 apartments across 14 storeys, at the peak of which sit two penthouse apartments with roof terraces enjoying 360 degree views. 
The Granary has been converted to one and two bedroom apartments that mimic the scale of the original buildings on this site. 
The Wheatstore’s triangular structure stands out as the only design within the Flour Mill that started from scratch. It houses 27 two and three-bedroom apartments. 
EG’s development manager Raja Jamal said the focus was community and connectivity. 
“Summer Hill hosts a strong, connected community and we are excited to bring together the new and the old residents,” says Jamal. 
“The new retail precinct and integrated communal public park will complement the vibrant high street and existing village atmosphere.” 
Collier’s International is marketing the project and has started taking enquiries for the last stage. 
Colliers’ residential director Ian Bennett said, “The majority of buyers in Stage 1 and 2 were locals looking to buy a piece of the area’s history, with investors and first home buyers looking at the one and two-bedroom apartments due to the connectivity with the light rail, train station and bus services all flanking the development,” said Bennett.
The Flour Mill’s completion scheduled for the end of 2018. 
For more information, <a href="https://summerhillflourmill.com.au/" target="_blank">click here</a>.
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Last chance to buy a piece of history in Sydney’s Summer Hill 

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Investment firm Sentinel Property Group has divested from another shopping centre with the sale of a Coles-anchored centre at Wellington in central New South Wales for $3.6 million.
The Wellington sale follows on the heels of Sentinel’s sale of the Narromine centre in July for $4.18 million and the Jimboomba centre in south east Queensland for $27.48 million.
Brisbane-based Sentinel purchased the Wellington shopping centre in May 2015 as part of three regional NSW shopping centres in Bathurst, Narromine and Wellington purchased in one line from Charter Hall Retail REIT.
The fully-leased property at 128-140 Percy Street in Wellington, nearly 50 km south of Dubbo, is anchored by a 2,217 sqm Coles Supermarket and an ATM.
Sentinel managing director Warren Ebert said the company has been capitalising on the rising market demand for neighbourhood-style shopping centres in regional locations.
“Well-located shopping centres in strategic regional hubs and anchored by major supermarket chains are emerging as one of the most highly sought-after of all retail asset classes,” Ebert said.
“There is currently limited availability of this style of property, which is intensifying demand from a wide range of buyers. Fortunately, we have plenty of stock as we were buying when others were not and this presents the opportunity to deliver strong capital growth returns to our investors.”
The Wellington shopping centre was an asset of the open-ended pooled Sentinel Countrywide Retail Trust, which also owns shopping centres in Dubbo, Bathust and Broken Hill in NSW and Atherton, Townsville and Emerald (x2) in QLD. 
Investors in the Trust receive net returns of 9.50% per annum, paid from rental income, as well as capital growth returns on divestment, said the media release.
The sale of the Wellington shopping centre was negotiated by Darren Beehag of Burgess Rawson and brings to 10 the number of properties sold across the entire Sentinel portfolio, from the 51 the company has purchased since it was established in 2010.
Sentinel has a national portfolio of 41 retail, industrial, office, land, tourism infrastructure and agribusiness assets exceeding $1 billion. 
Sentinel Property Group has sold off the Jimboomba Junction Shopping Centre in Queensland’s Logan City for $27.48 million in an off-market deal, continuing with its recent divestment of assets.
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Sentinel divests from Coles-anchored shopping centre in NSW's Wellington for $3.6 million

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Charter Hall Group (ASX: CHC) is preparing to list on the ASX a new real estate investment trust (REIT) that aims to invest in office, industrial and retail properties across Australia.
Charter Hall Long WALE REIT will comprise an initial portfolio of 66 properties independently valued at more than $1.2 billion. Long WALE REIT will invest in Australasian properties that are leased to corporate and government tenants on long term leases, said a media release.
It expects to file for the IPO with ASIC on September 27.
Charter Hall's managing director and Group CEO, David Harrison said: “The REIT will have a market capitalisation in excess of $1 billion and Charter Hall will have a co- investment of up to $250 million. At IPO the REIT will target no debt on balance sheet and look through gearing of less than 20%.”
He said Long WALE REIT's objective is to provide investors with stable and secure income. 
The REIT will target the distribution of 100% of operating earnings and expects to provide investors with stable, recurring income through quarterly distributions. Growth in distributions is expected to be underpinned by a combination of fixed rental increases and CPI linked rental reviews, the release said. 
Nearly 58% of the income from the initial portfolio is subject to fixed rental increase, while the balance of income, about 42%, is subject to rental reviews linked to CPI. The weighted average rental review across the initial portfolio is estimated at 2.8%.1 
Charter Hall has established Charter Hall WALE Limited as the responsible entity of the REIT. The fund would be managed by Avi Anger.
Charter Hall has a successful track record in investing, having done deals worth $12.6 billion in the last five years, which include $3.3 billion in divestments.
J.P. Morgan Australia Limited and UBS AG, Australia Branch are the joint lead managers for the IPO with King and Wood Mallesons the legal advisor.
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Charter Hall plans to list $1.2 billion REIT on ASX 

Roseville is poised for a wave of new apartment development following the NSW Government's rezoning of land around Roseville Station under its Transport Oriented Development program.

The new planning controls have unlocked significant development potential within walking distance of the station, with a number of sites expected to be amalgamated and redeveloped in the coming years as developers seek to take advantage of the increased density allowances.

One of the more restrained developments in the precinct, and set among the first to be delivered having commenced well before the recent changes, is Hyecorp's Juliet. The boutique apartment project is already well under construction and remains on track to welcome residents by the end of the year, offering a markedly different proposition to many of the larger-scale developments now likely to emerge across the suburb.

[smartcode_project:default project_id=7395 project_image_fid=278194]

<a href="https://www.apartments.com.au/new-apartments/juliet-roseville-64-pacific-highway-roseville-nsw-2069">Juliet</a> will comprise just&nbsp;34 one-, two-, and three-bedroom apartments opposite Roseville Station. For Hyecorp, which has delivered projects across Sydney's Lower North Shore for more than three decades, Roseville presented a rare opportunity to address a growing gap in the market.

"<a href="https://www.apartments.com.au/developments/roseville-nsw-2069">Roseville</a> has long been one of the North Shore's most tightly held and desirable suburbs, offering a unique combination of village charm, established greenery, excellent transport connections, and proximity to some of Sydney's best schools and lifestyle amenities," Hyecorp said.

"We recognised a growing demand from local homeowners seeking to downsize without leaving the community they have built their lives around. The location presented a rare opportunity to create homes that cater specifically to that buyer profile."

[smartcode_project:default project_id=7395 project_image_fid=278196]

The six-level development has been designed by <a href="https://www.apartments.com.au/architects/pbd-architects">PBD Architects</a> as a collection of residences that feel more like homes than apartments. The brief centred generous floorplans, abundant natural light, quality finishes, and strong connections to outdoor space.

PBD Architects drew inspiration from Roseville's established garden suburb character, creating a building that sits comfortably within its surroundings rather than dominating them. The architecture incorporates natural materials, soft forms, layered landscaping, expansive balconies, and generous setbacks to strengthen the connection between residents and the suburb's leafy environment.

"The focus was on designing spacious, house-like residences for discerning owner-occupiers and downsizers who wanted to remain on the North Shore without compromising on comfort, privacy, or design," PBD said.&nbsp;

"Every apartment was to feel considered, timeless, and highly functional."

[smartcode_project:default project_id=7395 project_image_fid=278195]

Inside, residences feature engineered timber flooring, stone kitchen benchtops and splashbacks, integrated Fisher &amp; Paykel appliances, ducted air conditioning, and large outdoor entertaining areas designed to take advantage of district and treetop views.

Residents will also have access to a rooftop barbecue and lounge area, alongside practical amenities including parcel lockers, EV charging capability, bicycle storage, a dog wash bay, and a basement car wash facility.

The majority of purchasers so far have been local owner-occupiers from Roseville, Lindfield, Chatswood, Killara, and the broader Upper North Shore, many of whom are transitioning from larger family homes.

"Buyers are looking for spacious, house-like apartments that allow them to downsize without feeling like they are sacrificing comfort or functionality," Hyecorp noted.

"They value large kitchens, generous living areas, ample storage, quality finishes, secure parking, lift access, and low-maintenance living."

[smartcode_project:default project_id=7395 project_image_fid=278204]

Juliet sits directly opposite Roseville Train Station and within walking distance of Roseville Village, while Chatswood's retail and dining precinct is only minutes away. The development is also surrounded by some of Sydney's most established schools, including Roseville College, Ravenswood, Pymble Ladies' College, and Knox Grammar, as well as nearby parklands and golf courses.

Juliet is currently more than 75 per cent sold ahead of its anticipated completion in late 2026.

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Joel Robinson

Juliet to sit quietly amid Roseville apartment boom

Sherpa Property Group has unveiled the third instalment of its Flourish series, securing full approval for the two-tower, $500 million Flourish Soleira development in Palm Beach.

<a href="https://www.apartments.com.au/new-apartments/flourish-soleira-1150-1154-gold-coast-highway-palm-beach-qld-4221">Flourish Soleira</a> will rise from a prominent site in the commercial heart of Palm Beach, the long-time home of Cash Converters and a range of local retailers.

The project will introduce a new retail and dining precinct at ground level, beneath 286 apartments.

[smartcode_project:default project_id=150017 project_image_fid=370959]

“We’re very committed to not only providing affordable residential offerings that are much needed in Palm Beach, but also delivering a vibrant new commercial heart that complements the extraordinary growth of the southern Gold Coast,” Sherpa Property Group founder Christie Leet said.

The development will sit under Sherpa's Flourish brand, which is aimed at providing a pathway into the beachside suburb for locals, first-home buyers and downsizers. In a move designed to assist first-home buyers entering the market, Sherpa has reserved all one and two-bedroom, one-bathroom apartments exclusively for eligible first-home buyers.

[smartcode_project:default project_id=150017 project_image_fid=370964]

“Our vision through Flourish is to create a vibrant retail and lifestyle focal point within the Palm Beach centre zone, delivering thriving communities underpinned by lifestyle-rich locations,” Leet said.

“So far, Flourish has been an incredible success, and we hope to carry this momentum as we progress the next two Flourish projects in Palm Beach.”

[smartcode_project:default project_id=150017 project_image_fid=371430]

Located across 1150-1164 Gold Coast Highway and 3 Sixth Avenue, the development will comprise two towers. The northern tower will deliver 154 apartments, while the southern tower will add a further 132 residences, helping address ongoing demand for new apartments in the tightly held coastal suburb.

Flourish Soleira will also feature the most extensive rooftop amenity offering ever delivered in Palm Beach.

The two towers will be connected by a skybridge, with residents gaining access to a rooftop recreation deck featuring a full-width swimming pool, hot and cold plunge pools, wellness spaces, a gymnasium, private dining facilities, massage treatment rooms, barbecue areas, a basketball court, golf simulator, indoor and outdoor dining spaces, sun lounges and extensive landscaping.

LPS Group is expected to start construction later this year.

Sherpa is already well advanced on construction of its debut Flourish project, Flourish Amargo, located just around the corner from Soleira. Meanwhile, Flourish Oasis, positioned opposite Amargo, recently commenced construction and has nearly sold out its collection of 47 apartments.

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Sherpa unveils $500m mixed-use Palm Beach precinct, Flourish Soleira

Are mortgage holders set to get a reprieve from the RBA in 2026?

Big Four bank NAB believes so. They are now expecting the next move from the RBA to be a cut, rather than a hike, which they had pencilled in for August. They are unsure of the timing of the cut however, they note in their latest&nbsp;NAB Economics RBA Watch.

NAB Chief Economist, Dr Sally Auld, said recent data suggests the economy has lost momentum and the outlook for rates has shifted, noting that the broader economic backdrop has changed since earlier in the year.

“The next move in the cash rate is likely to be down, but the timing is uncertain," Dr Auld said.

"In February, growth was above trend, the economy was operating above capacity and there was uncertainty over the restrictiveness of rates. None of these conditions exist today,” she outlined.

Dr Auld said recent data pointed to softer momentum across the economy while acknowledging that at the same time, uncertainty remains a key feature of the outlook.

“Both Q1 GDP data and the NAB business survey suggest momentum in the economy has slowed, meaning that growth has likely peaked for the cycle. That said, we are cognisant there is still considerable uncertainty around the outlook, both with respect to activity and inflation.”

Dr Auld said inflation risks and labour market outcomes would be important to watch.

“On the prices side, we are still forecasting above target core inflation through to mid-2027. Margins will compress and weaker labour market outcomes are a risk.”

She said tighter financial conditions are expected to weigh on housing and activity.

“Tighter financial conditions will be reflected in a slowing in house price growth and housing credit growth. In summary, we have greater conviction that the next move in rates is down, but less conviction on the timing.”

Mortgage relief? NAB forecasts RBA rate cut, not hike, after softer economic conditions

A local downsizer has splashed $6.5 million on a penthouse in Perifa's Alex &amp; Willow development in Crows Nest. 
&nbsp; 
The purchaser sold their long-held family home in the area before embarking on a six-month search for the right apartment. After inspecting a range of options across the Lower North Shore, the buyer returned to <a href="https://www.apartments.com.au/new-apartments/alex-willow-crows-nest-82-90-alexander-street-crows-nest-nsw-2065">Alex &amp; Willow</a>. 
&nbsp; 
The buyer profile reflects the project’s broader purchaser mix. <a>Alex &amp; Willow</a> has attracted predominantly local downsizers looking to transition from larger homes without compromising on space or quality, alongside a smaller cohort of upsizers and investors drawn to the project’s location and design credentials. 
&nbsp; 
The milestone sale comes as the project, developed by&nbsp;<a href="https://www.apartments.com.au/developers/perifa">Perifa</a>&nbsp;and delivered by <a href="https://www.apartments.com.au/builders/versatile-made-construction">Versatile Construction</a>, both part of Versatile Group, reaches 60 per cent sold.

[smartcode_project:default project_id=6680 project_image_fid=371325] 
&nbsp; 
Eddie Mansour, Managing Partner of <a href="https://www.apartments.com.au/project-marketer/ray-white-projects">Ray White Projects</a>, said the result demonstrates not only a headline price but also depth of demand. 
&nbsp; 
“This is an exceptional outcome and a clear reflection of sustained buyer demand for premium, well-located downsizer product,” Mansour said.

“We’re seeing a consistent pattern of local homeowners selling family residences and reinvesting into high-quality apartments that allow them to remain within their community. Alex &amp; Willow has resonated strongly with this group because it offers genuine scale, thoughtful design and immediate proximity to the village.” 
&nbsp; 
The sale reflects a broader and consistent trend of local downsizers actively seeking high-quality, low-maintenance residences close to established village centres. Agents report that demand for this product type has remained resilient, particularly where developments offer a rare combination of scale, design quality and walkable amenity. 
&nbsp;&nbsp; 
Fabrizio Perilli, Managing Director of Perifa and Versatile Group, said the sale marks a defining moment for the project. 
&nbsp; 
“The penthouse sale is a strong endorsement of the quality we have delivered, alongside our partners, and the clear demand from local downsizers for premium, boutique residences in this location,” Perilli said.&nbsp; 
&nbsp; 
“Most importantly, we’re proud to see the Alex &amp; Willow community beginning to take shape. As we move closer to completion, we’re looking forward to welcoming residents and seeing the project come to life.”&nbsp;

[smartcode_project:default project_id=6680 project_image_fid=338516] 
&nbsp; 
Designed by <a href="https://www.apartments.com.au/architects/nettletontribe">Nettleton Tribe</a> with interiors by <a href="https://www.apartments.com.au/interior-designers/richards-stanisich">Richards Stanisich</a>, Alex &amp; Willow is a boutique collection of generously sized two- and three-bedroom residences in the heart of Crows Nest village.&nbsp;

Completion is slated for early 2027.

[smartcode_project_cta:default project_id=6680]

Alex & Willow, Crows Nest penthouse sells off the plan for $6.5 million

Fresh from launching the first stage of its Wollongong precinct, <a href="https://www.apartments.com.au/new-apartments/keira-place-wollongong-120-122-smith-street-wollongong-nsw-2500">Keira Place</a>, builder-developer Urban Property Group has unveiled plans for the next phase of the masterplanned community.

Now on public exhibition through the NSW Government's Housing Delivery Authority pathway is a State Significant Development Application for a further 657 homes on the prominent gateway site opposite Beaton Park.

The proposal comprises three buildings, including two build-to-sell towers rising 25 and 30 storeys, delivering 391 apartments, alongside a 12-storey co-living building with 266 residences, making it one of the largest co-living proposals currently planned in regional New South Wales.

Of the apartments proposed in the build-to-sell towers, the majority, 310, are two-bedroom dwellings. The balance comprises 44 one-bedroom apartments and 37 three-bedroom residences. Apartment sizes range from around 50 sqm for one-bedroom homes to approximately 90 sqm for three-bedroom apartments.

<img alt="Smith St" data-entity-type="file" data-entity-uuid="19347059-1612-41a0-9c74-b86a657237f8" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-06-10%20at%2010.02.18%E2%80%AFAM.png?VersionId=sWXnaCcA.cIC6N8YT1dg5pJ2e1V3Z6z7" />

The submission says the proposal has evolved significantly from its original Housing Delivery Authority application following extensive consultation with the State Design Review Panel and Wollongong City Council.

The final scheme has been designed to align with the emerging vision for the Flinders Street Precinct, an area identified by Council as a future high-density mixed-use neighbourhood capable of accommodating substantial housing growth close to transport, employment and community infrastructure.

According to the design report prepared by COX Architecture, the development aims to "deliver a built outcome consistent with the future character of the Wollongong CBD while responding to the site's unique constraints and opportunities."

"Our vision for the next phase of the site evolution in Wollongong is grounded in three design pillars that guide the design response: place, natural environment and celebration," COX said.

"Inspired by its surroundings and grounded in the stories of place on Wodi Wodi Country, the design proposal acknowledges the established character of its setting while creating a unique and timeless identity that sits harmoniously within it.

"The design proposal responds to its specific site conditions, acknowledging the vegetation, climate, wind conditions and solar access of the site."

The architecture responds directly to the site's position between Wollongong's urban core and its natural landscape setting.

COX identified views towards Mount Keira and the Illawarra Escarpment as defining features of the site, while the upper levels of the towers will also capture expansive views across the city and out to the Pacific Ocean.

The design team has positioned the tallest buildings closer to the rail corridor, where overshadowing impacts can be better managed while establishing a landmark built form on the northern approach into the city.

<img alt="Smith St" data-entity-type="file" data-entity-uuid="79580d5b-500c-4ebf-9629-797146a4a694" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-06-10%20at%209.51.59%E2%80%AFAM.png?VersionId=WbTB1EKSG.KDfsfz0F3wp1QVa2oCMGR5" />

Urban Property Group secured the 11,000 sqm Smith Street site in 2022 and has since progressed plans for the broader Keira Place precinct.

Construction recently commenced on the first stage of Keira Place, which will deliver 150 apartments across two residential buildings, including 27 affordable housing apartments and 18 specialist disability accommodation dwellings, alongside activated ground-floor retail and commercial space.

Urban Co-CEO Patrick Elias said the commencement of construction marked a significant milestone for Wollongong and reflected the developer's long-term commitment to regional cities.

"Today's groundbreaking is about turning approvals into homes and moving quickly to deliver much-needed housing in Wollongong's city centre," Elias said.

"Keira Place will provide a diverse mix of homes close to jobs, transport and services, while setting a high benchmark for quality, durability and consumer protection."

Read more:&nbsp;<a href="https://www.apartments.com.au/news/nsw/groundbreaking-marks-start-of-construction-at-keira-place-in-wollongong-cbd">Groundbreaking marks start of construction at Keira Place in Wollongong CBD</a>

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Prateek Chatterjee

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