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A South Australia shopping centre has sold for $10.5 million, representing a yield of 7.25% on a fully leased basis.
Adelaide real estate investor, PPI Funds Management, acquired the Greenacres Shopping Centre via an off-market campaign that saw Savills Australia approach a select number of investors.
Capital Transactions agents Peter Isaksson and Rino Carpinelli brokered the deal on behalf of Graham Investments, achieving a rate of about $3,500 per square metre.
“PPI Funds Management had been eyeing the asset for some time,” Isaksson said.
“They already own the adjacent Coles supermarket and bulky goods site so Greenacres Shopping Centre is a strategic acquisition, as it consolidates ownership of a major metropolitan-district complex to a total site area of about 43,226 square metres.”
Specialty retailers already operating in the centre include H&amp;R Block, Greenacres Surgery medical clinic and National Pharmacies, as well as a BankSA branch.
Carpinelli said the buyer recognised the future upside potential of the property, based on its busy suburban location just 12 kilometres north-east of the CBD. 
Carpinelli said South Australian shopping centres were becoming a popular market among investors, as record sale prices being achieved for shopping centre listings on the eastern seaboard were pricing out local buyers.
 
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j.ballantyne1990-6AQqhLzZaK

Savills secures neighbour on shopping spree at SA's Greenacres

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The majestic residence at 31 Buccaneer Court, Surfers Paradise has been sold by Sam Guo of Ray White Broadbeach.
It fetched a street record of just under $6 million when sold to a local Chinese buyer.
Pat Worboys, who owns an interior design styling business<a href="http://designready.com.au/" target="_blank" data-saferedirecturl="https://www.google.com/url?hl=en-GB&amp;q=http://designready.com.au/&amp;source=gmail&amp;ust=1524145503271000&amp;usg=AFQjCNFGoLGCbLlt26Dj_VXarq0erK0Igg"> designready.com.au</a>, transformed the home over 18 months.
It was marketed as a picture of functional opulence and timeless beauty, taking inspiration from a classic French chateau with contemporary upstate New York influences.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2018/4/19/BUCC2.jpg" alt="">
The five bedroom home sold to a buyer who fell in love with its classy fittings, position and beautiful presentation.
The waterfront home boasts the finest fittings and fixtures throughout, including imported marble, polished Italian Shivakashi granite, pristine Baltic Oak parquetry floors, forged iron balconies and grand staircase, imported French shutters and Himalayan sandstone.
The latest sale comes on the back of Mr Guo selling <a href="https://maps.google.com/?q=31-33+The+Corso&amp;entry=gmail&amp;source=g">31-33 The Corso</a>, Isle of Capri for $8.8 million off-market to an undisclosed Asian buyer during the lucky Chinese lunar golden week. 
“The Gold Coast has well and truly come of age and it’s great to see such confidence in the luxury market.”
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French chateau Buccaneer Court, Surfers Paradise trophy home sale

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Data released by SQM Research this week has revealed the national residential vacancy rate slipped to 2.1% in March 2018.
The number of rental vacancies Australia-wide fell to 68,964, down from 2.2% in February when 69,727 properties were available.
Capital city asking rents have been pressured in Melbourne where the vacancy rate is just 1.4%.
Brisbane’s vacancy rate fell to 3.2%, down from 3.4% in February, while Canberra’s slipped to just 0.6%, down from 0.8%.
Commentator Peter Warrant noted the vacancy rate for Canberra has fallen from 2.5% in mid-2015 when it was announced in the Barr Budget that there would be significant rate rise and land taxes imposed in the Australian Capital Territory (ACT). While there are rentals on the market, the methodology picks up rental properties vacant between leases for a period of time and acts a viable leading indicator for markets that are tightening or easing.
With investors looking elsewhere, SQM reports that median asking rents for houses in the ACT have increased by +29% over the past three years to $617 per week.
That makes Canberra the second most expensive capital city after Sydney at a $738 per week median asking rent for houses.
<a href="https://4.bp.blogspot.com/-BGm3VeZZ7TA/WtUvDQ7EPOI/AAAAAAAApbk/ZQQmQb6NGrAHb2cNp2ojORGr-fJPI_-SQCLcBGAs/s640/SQM1.jpg" target="_blank">Click to open in new window</a>
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In Hobart the chronic shortage of rentals has eased a little over the past two months, if only a little. 
Melbourne has a relatively tight vacancy rate at 1.4%, while in Sydney the vacancy rate of 2.3% is being reflected in relatively flat rents overall, including a slight decline for median house asking rents.
The Perth market continues to pick up steadily from its nadir.
Melbourne’s vacancy rate of 1.4% was steady as was Sydney’s at 2.3%.
But Sydney’s vacancy rate is well up from 1.7% a year earlier, reflecting slightly easier rental conditions in the nation’s most populous capital.
Hobart's vacancy rate inched higher to 0.6% from 0.5%, but a shortage of rental properties still exits there. In Adelaide, the vacancy rate remained tight at just 1.4%.
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<td>
City
</td>
<td>
March 2017 Vacancies
</td>
<td>
Vacancy Rate
</td>
<td>
February 2018 Vacancies
</td>
<td>
Vacancy Rate
</td>
<td>
March 2018 Vacancies
</td>
<td>
Vacancy Rate
</td>
</tr>
<tr>
<td>
Adelaide
</td>
<td>
3,108
</td>
<td>
1.7%
</td>
<td>
2,540
</td>
<td>
1.4%
</td>
<td>
2,519
</td>
<td>
1.4%
</td>
</tr>
<tr>
<td>
Perth
</td>
<td>
9,860
</td>
<td>
5.0%
</td>
<td>
8,319
</td>
<td>
4.1%
</td>
<td>
8,221
</td>
<td>
4.1%
</td>
</tr>
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<td>
Melbourne
</td>
<td>
7,397
</td>
<td>
1.4%
</td>
<td>
7,889
</td>
<td>
1.4%
</td>
<td>
7,479
</td>
<td>
1.4%
</td>
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<td>
Brisbane
</td>
<td>
11,028
</td>
<td>
3.5%
</td>
<td>
10,925
</td>
<td>
3.4%
</td>
<td>
10,246
</td>
<td>
3.2%
</td>
</tr>
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<td>
Canberra
</td>
<td>
471
</td>
<td>
0.8%
</td>
<td>
495
</td>
<td>
0.8%
</td>
<td>
392
</td>
<td>
0.6%
</td>
</tr>
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<td>
Sydney
</td>
<td>
10,989
</td>
<td>
1.7%
</td>
<td>
15,581
</td>
<td>
2.3%
</td>
<td>
15,833
</td>
<td>
2.3%
</td>
</tr>
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<td>
Darwin
</td>
<td>
1,058
</td>
<td>
3.6%
</td>
<td>
989
</td>
<td>
3.3%
</td>
<td>
1,073
</td>
<td>
3.6%
</td>
</tr>
<tr>
<td>
Hobart
</td>
<td>
174
</td>
<td>
0.6%
</td>
<td>
145
</td>
<td>
0.5%
</td>
<td>
191
</td>
<td>
0.6%
</td>
</tr>
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<td>
National
</td>
<td>
73,554
</td>
<td>
2.3%
</td>
<td>
69,727
</td>
<td>
2.2%
</td>
<td>
68,964
</td>
<td>
2.1%
</td>
</tr>
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SM noted in contrast to the national trend, Darwin’s vacancy rate rose to 3.6% from 3.3% in February.
The vacancy rate in Perth was steady at 4.1%.
Managing Director of SQM Research, Louis Christopher, said the vacancy numbers highlighted tight rental markets in some capital cities, particularly in Canberra and Hobart but also in Melbourne.
“Reflecting the tight rental conditions in Melbourne, asking rents for houses were up by 1.1% over the month to 12 April 2018, while asking rents rose 4.7% over the year.
"We can expect continued strong growth given the high population growth that Melbourne is currently experiencing, creating rental demand.
“In contrast, Sydney’s vacancy rate is above year-ago levels, and as rental vacancies rise, asking rents are falling. Asking rents for houses fell 1.3% over the year to 12 April while asking unit rents increased by just 0.8%.
"Sydney rents could continue to ease this year given its higher vacancy rate,” Christopher said.
Asking Rents
Capital city asking rents rose over the month to 12 April 2018 by 0.5% to $563 a week for houses. Unit asking rents rose 0.2% to $443 a week. Over the year, asking house rents rose by 1.3% while asking rents for units increased by 0.9%.
Asking rents for houses rose the most in Darwin over the month, up by 3.3% to $560 a week, though unit asking rents dropped 2.6%. In Melbourne, asking house rents gained 1.1% to $537 while unit asking rents rose 0.7% to $407 a week.
The asking rent for a three-bedroom house in Sydney remains the highest in the nation at $738 a week while for units it stands at $524. Canberra follows at $617 a week for houses and $439 for units.
<a href="https://www.propertyobserver.com.au/images/2018/4/18/Picture1.jpg" target="_blank">Click to open in new window</a>
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Sydney rents could continue to ease this year given its higher vacancy rate: SQM

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With approximately 215,000 residents, Wollongong City is the third largest City in NSW.
The population of the entire Illawarra District tops 400,000.
"Although it has the population and local microeconomic factors of its own, the geographic proximity to Sydney is the key measure when determining the main influence on the residential property market," according to the valuation firm, Herron Todd White (HTW).
"When Sydney is hot, it flows on down the coast. When Sydney dries up, so do things down here," HTW's latest report advised.
As Sydney has become more and more unaffordable, Sydney residents are looking further afield - and Illawarra is a place to go to.
Buyers are faced with the decision of paying over $1,000,000 to live in a suburb close to the Sydney CBD or to consider outer suburbs.
With the commute from Campbelltown and surrounds into the CBD being over an hour, this compares favourably with catching the train from Thirroul (one hour 15 minutes) or Helensburgh (50 minutes).
"If proximity to family is not a relevant factor, the decision to pick the Illawarra is an easy one," HTW's April report noted.
CoreLogic reports the median sale price for December 2017 in Helensburgh as $911,000; in Woonona as $920,000; in Corrimal as $800,000.
A Woonona four bedroom house has been recently sold for $950,000 (pictured below).
<a href="https://www.realestate.com.au/sold/property-house-nsw-woonona-127898146" target="_blank">Located at 88 Rixons Pass Rd</a>, the newly renovated house features north facing balcony,  parents retreat with ensuite, second living zone and private courtyard.
It is only moments to Woonona Village, schooling and local beaches, and with easy access to Memorial Drive.
The home also features a coastal outlook from its elevated position.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2018/4/11/woonona.jpg" alt="">
Another offering currently on the market is a Helensburgh three bedroom house which priced at $85,000 to $87,000.
<a href="https://www.realestate.com.au/property-house-nsw-helensburgh-127827242" target="_blank">Located at 24 Hay Street</a>, the cottage style home comes with three generous sized bedrooms, modern kitchen and open plan living and dining.
Extra features include polished floorboards throughout,  yard with covered entertaining area, and lock up garage.
Town centre, parklands, shops and cafes are within walking distance. 
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2018/4/11/helensburgh.jpg" alt="">
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Sydney market strength remains key to Illawarra performance: HTW

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A south-eastern Perth three bedroom house has been sold for $270,000 by mortgagees.
It was offered by Anna Downing from Ray White. 
It last sold at $125,000 in 2002.
It was up for sale in February last year at $380,000 after 260 days on market.
It was also for sale in 2015 for three months at $385,000.
 <a href="https://www.realestate.com.au/sold/property-house-wa-huntingdale-127296698" target="_blank">Located at 48 Alciston Way, Huntingdale</a>, the Western Australian home comes with three bedrooms, separate living area,  galley kitchen and landscape gardens.
It also features polished wooden floors, lined studio and carport.
It is positioned on an 852 square metre block.
According to CoreLogic, the suburb's median house price sits on $385,000.
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Huntingdale, Perth three bedroom house sold by mortgagee

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Rental rates in Brisbane increased by 1.1% over the first quarter of 2018 compared to a 1.2% increase in rents across regional Queensland.
Brisbane rents were just 0.6% higher over the past 12 months compared to a larger 2.8% increase across regional Queensland, CoreLogic noted.
Gross rental yields in Brisbane have moved marginally lower over the past year from 4.42% to 4.4%.
Outside of Brisbane, rental yields have increased from 5.24% a year ago to 5.27% currently.
Each SA4 region of Brisbane recorded a quarterly increase in rental rates, while over the past year, rents fell across two of the nine Brisbane SA4 regions.
Rental rates have increased at a similar pace to value which has resulted in seven of the nine Brisbane SA4 regions recording no change in rental yield over the past year while they reduced across the remaining two regions.
The housing market performance is much more mixed in regional Queensland however, values have only fallen over the quarter in two regions and in one region over the past year.
Of the 10 regional markets, six have higher yields than a year ago, two have unchanged yields and two have lower yields.
<a href="https://www.propertyobserver.com.au/images/2018/4/18/QLD%20.jpg" target="_blank">Click here to enlarge:</a>
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2018/4/18/QLD%20.jpg" alt="">
A Brisbane inner city riverfront apartment on the rental market is priced at $520 a week (pictured below).
<a href="https://www.realestate.com.au/property-apartment-qld-brisbane+city-418063250" target="_blank">The 1604/100 Quay St apartment</a> features two generous bedrooms, modern kitchen and inground pool.
Extra features include ceiling fans, air conditioning and terrace balcony.
Within the walking distance to city, it is only a few minutes to the Palace boutique shopping and restaurant hub.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2018/4/18/quay%20st.jpg" alt="">
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Inner city Brisbane rents in mild decline: CoreLogic 

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GUEST OBSERVATION
Hosting the Commonwealth Games is about more than just the two weeks of sport for the Gold Coast. Andrew Smith, author of the book Events and Urban Regeneration, observes: “In recent years, major sporting and cultural events such as the Olympic [and Commonwealth] Games have emerged as significant elements of public policy … As well as opportunities arising from new venues, these events are viewed as a way of stimulating investment, gaining civic engagement and publicising progress to assist the urban regeneration process more generally.”
The Gold Coast recently hosted the Commonwealth Games, a record fifth time for Australia. It’s the first time an Australian non-capital city hosted the event.
Another great distinction from past hosts is that the Gold Coast mostly relyied on its existing assets, and the community aspect has generally prevailed: most of the refurbishments and extensions took place one to three years before the start of the Games, meaning the community has already been able to use these facilities.
Not building just for the Games
Only two of the 13 Gold Coast venues are bright new buildings, the Carrara Sports and Leisure Centre and the Coomera Indoor Sports Centre. All the others are either already built or are great natural assets such as the Coolangatta and Currumbin beachfronts.
Even the new venues were completed some time ago. At the Coomera Sports Centre, early site works began in February 2015. Construction was completed in early August 2016, 20 months ahead of the Games.
Similarly, the Carrara Sports Centre was completed in early 2017. The nearly 20,000 square metre venue was available to Gold Coast residents to enjoy more than a year before the Games.
Refurbishment is costly, but looking at the bigger picture it might still be less expensive. A new building usually involves other costs such as building new road access, water and electrical connections, and so on.
The same strategy was implemented for all the refurbishment projects without exception. For example, the aquatic centre is a recycling and expansion of the original 1960s Southport pool. Finished in 2014, it hosted the Pan Pacific Swimming Championships the same year. Although at that time debate about the lack of a roof was raging, being able to test the facility in advance is a luxury that few host cities have had.
<img src="https://images.theconversation.com/files/213313/original/file-20180404-189830-s5fkzu.jpg?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=754&amp;fit=clip" alt=""> 
Few Games hosts have had the luxury of trialling venues like the aquatic centre, where refurbishment was finished in 2014. Karine Dupre, Author provided
What about the architectural legacy?
In designing venues, architecture plays a a critical role in delivering a premium experience for athletes and spectators, and thus ensuring the success of the Games.
It’s doubtful any of these buildings will enter into the history of architecture as references or models for future Games. They are not comparable to what has been done, for example, in Beijing in terms of structural innovation (such as the swimming pool or the stadium) or iconic status.
I am convinced, however, that all these buildings display a very good critical approach by their architects.
For example, for the Coomera centre, the choices made by Gold Coast-based BDA architects were fundamental to achieve the flexibility to accommodate up to 7,500 spectators when starting from 350 permanent seats. The truss structure, in allowing a very long span (82 metres by 168 metres for the roof), frees the indoor space from columns and increases flexibility of uses. In the same way, the 23 metres roof clearance frees the volume.
In terms of aesthetic, the choice not to enclose fully the centre at the entrance gives both a lighter perception of the building – despite the use of 600 tonnes of structural steel and 6,000 cubic metres of concrete – and a different look from the traditional box often found for gymnasiums.
<img src="https://images.theconversation.com/files/213373/original/file-20180405-95689-qop95o.jpg?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=754&amp;fit=clip" alt="">
Commonwealth Games gymnastics competition is under way at the Coomera Indoor Sports Centre. Karine Dupre, Author provided
The key new facility at Carrara presents some similar characteristics. Because of its central location on the Gold Coast, the idea was that the new centre would contribute to the creation of a sport precinct and to economic development and sport advocacy programs. Knowing that Glasgow had a 17% increase in people doing sport after the Games, it was a reasonable vision to bet on long-term use by locals and not only on the visitors for the brief period of the Games.
Designed by BVN architects, the Carrara centre consists of a street space between two major halls. As the nominated venue for the badminton, wrestling and table tennis programs, it is quite an unexpected arrangement; it does not feel like the traditional sport hall, but more like a place to meet others. The colours and material palette have been used to symbolise the young and vibrant image of the Gold Coast. Again, all these architectural choices come together to provide a memorable experience for visitors and athletes alike.
Within the given budget, the balance between an appealing aesthetic and a long-term legacy has been achieved. Maybe none of these buildings will become international landmarks, but present uses have shown their functionality and benefits for the Gold Coast.
Even if we don’t all agree with the current politics, there is one thing we cannot deny about the Games: architecture has been a tool for enhancing public facilities thanks to a very long-term vision. The social, cultural and economic legacy is already there, since facilities are being used.
Finally, since the Games preparations began, major debates on the Gold Coast concerned new casinos, the Spit redevelopment and the light rail extension. None of these debates caused any real problems for the Games. It is quite an achievement, or the result of a very good communication strategy, but that might be another discussion…
Karine Dupré, Associate Professor in Architecture, Griffith University
This article was originally published on <a href="http://theconversation.com" target="_blank">The Conversation</a>. Read the <a href="https://theconversation.com/building-for-the-community-is-a-win-for-the-gold-coast-games-94413" target="_blank">original article</a>.
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What kind of building legacy has the Commonwealth Games left the Gold Coast?

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Hub Australia has announced it has secured its first site in Brisbane.
It is a 3,900 square metre space at 200 Adelaide Street which is part of the Anzac Square heritage complex.
Entering the Brisbane market for the first time, Hub Australia will take three levels at Charter Hall’s AnzacSquare building.
It comes with direct access to Central Station and a rooftop café. 
The new coworking space, opening in late 2018, follows recent announcements regarding new locations at 162 Collins Street, Melbourne (3,500sqm), 1 Nicholson Street, Melbourne (2,700sqm), and the opening last week of Hub Australia’s new Sydney space, some 4,800sqm located at 223 Liverpool Street. 
This will take Hub Australia’s national footprint to over 20,000sqm, said Hub Australia CEO and Founder, Brad Krauskopf.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2018/4/18/Hub%20Aus_Brad%20Krauskopf%20at%20200%20Adelaide%20St.jpg" alt="">
Brad Krauskopf at 200 Adelaide St (pictured above).
John Preece, Chief Property Officer at Hub Australia, commented that while Brisbane is home to 11% of Australia’s citybased population, and 13% of the national CBD office stock, from a coworking perspective only 4% of the national footprint is located here.
"That tells us the market is completely under serviced from a capacity perspective, and there is definitely demand for high quality coworking spaces.”
 
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Hub Australia secures its first Brisbane co-working site

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The Victorian home of Foxtel in Moonee Ponds has hit the market.
The campaign, being undertaken on behalf of owners Charter Hall, is the largest metropolitan office sales campaign so far in 2018.
Comprising 7,105 sqm of net lettable area across four levels, the commercial property at 1-21 Dean Street was purpose built for Foxtel in 2004. It has recently undergone a $1.5 million refurbishment.
It has basement car parking for 67 cars and a 176 bay, two level car park adjacent to the building.
Colliers International agents Peter Bremner, Trent Preece and John Marasco are handling the marketing in conjunction with CBRE’s Neva Courts, Luke Etherington and Josh Rutman,
“This is the largest metro office building to be offered to the market so far in 2018,” Peter Bremner said.
 “It comes on the back of a third consecutive year of $1billion-plus sales in Melbourne’s metro office market and is sure to attract huge levels of interest locally, nationally and offshore from private investors, syndicates and institutions alike.”
Bremner said Foxtel staff love the location and surrounding amenity.
The property is situated around 6km north-west of the Melbourne CBD, adjacent to the south-west corner of the Moonee Valley Racecourse and in close proximity to the Puckle Street retail strip.
Trent Preece said the large 6,641sqm site offered two street frontages and Activity Centre zoning that would allow for a building height of 26 metres.
“There is potential for future residential development, or to build above the current multi-deck car park,” Preece said. 
“The property, and any future development, will also benefit from its location just 100m from Moonee Valley Racecourse which is about to undergo a $2billion re-development over the next decade providing 2,000-plus apartments plus entertainment, mixed use and world famous racecourse hosting the Cox Plate.” 
Expressions of interest close May 16.
 
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Victorian home of Foxtel in biggest 2018 metro sale campaign to date

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The Melbourne office market upswing is continuing strongly, according to BIS Oxford Economics.
They said net absorption was solid again in 2017 having been backed by strong economic and employment growth in Victoria.
Minimal net additions to stock in the year helped vacancy rates to contract in both CBD and non-CBD markets.
The metropolitan vacancy rate of around 5% is the lowest in almost a decade. Leasing incentives are being scaled back and rents are growing strongly, a recent BIS report found.
BIS did caution however that once rental growth stops – and reverses – yields are likely to correct sharply.
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“As always, circumstances can change and there's a risk that yields soften sooner than we expect. Investors need to go into the market with their eyes wide open," senior project manager and report author Maria Lee said.
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In the investment market, robust demand has pushed yields down – and prices up – further.
Some are concerned that the upswing in prices has run its course, however BIS suggest they do not share this view.
In the company’s latest Melbourne office market reports, it assesses prime grade CBD offices as being fairly valued (in relation to prospective returns) over a five-year horizon, while non-CBD assets are considerably undervalued.
“We’re looking at a prospective five-year IRR of around 10% on average across Melbourne’s non-CBD office markets” says Lee.
Click here <a href="https://www.propertyobserver.com.au/images/2018/4/18/MCOPE.jpg" target="_blank">to enlarge.</a>
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This forecast is based on a continued favourable demand/supply balance that will push vacancy rates lower and rents markedly higher over the next five years –albeit BIS Oxford Economics expects a temporary hiccup in the leasing market around 2019 and 2020 as the wave of development currently under construction comes on stream.
The strong returns forecast comes despite the company’s expectation that rising bond rates will result in softening yields. The critical thing here is the timing.“Certainly, falling bond rates were a key factor in promoting investor interest in property and driving down investment yields” states Lee, acknowledging that “On the face of it, rising bond rates will put upwards pressure on yields.”
However, there are several factors that BIS Oxford Economics considers will offset this impact over the next few years; indeed, near term yields could firm further. Firstly, the extent and timing of rate rises is uncertain. Moreover, the company points to the healthy buffer between office yields and bond rates, and to the lag, historically, before changing bond rates affect yields.
“In addition, and importantly, bond rates aren’t everything," Lee says.
"Investors are not consistent in the importance they attach to bond rates. As we’ve seen in the past, strong rental growth can take over as the driver of firmer yields. That’s what we believe will happen in the early 2020s.”
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BIS Oxford Economics cautioned that once rental growth stops – and reverses – yields are likely to correct sharply.
“As always, circumstances can change and there's a risk that yields soften sooner than we expect. Investors need to go into the market with their eyes wide open," Lee said.
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Melbourne office market going from strength to strength: but BIS Oxford Economics issue warning

Buyers considering a residence at boutique Gordon townhouse development <a href="https://www.apartments.com.au/new-townhouses/lume-gordon-43-47-dumaresq-street-gordon-nsw-2072">Lume</a>&nbsp;now have another reason to bring forward their decision.

For a limited time, purchasers of a residence at Lume will receive a BMW iX3 50 electric SUV, valued at more than $120,000, as part of their purchase. The offer is designed to add value for buyers while complementing the lifestyle envisioned for the architecturally designed Upper North Shore development.

Scott Timmins, Development Manager at <a href="https://www.apartments.com.au/developers/winim">WINIM</a>, said the partnership was created to provide buyers with a compelling reason to act.

"In today's market, buyers need a compelling reason to act now, and the BMW partnership was designed to create that catalyst. We wanted to add genuine value for our future purchasers. Choosing the all-electric BMW iX3 50 also reflects the values behind LUME, forward-thinking design, innovation and a more sustainable way of living. It's a premium incentive that complements the lifestyle our buyers aspire to and rewards those who commit early."

[smartcode_project:default project_id=7354 project_image_fid=374893]

Delivered by WINIM in partnership with Burtonwood Investment Partners, Lume comprises 14 architecturally designed two, three and four-bedroom townhomes created for families seeking the space of a freestanding house with the ease of modern, low-maintenance living.

The three-storey residences, designed by award-winning architecture practice <a href="https://www.apartments.com.au/architects/rothelowman">Rothelowman</a>, have been tailored for families and multi-generational living, featuring private internal lifts, flexible lower-level spaces, generous open-plan living and entertaining areas, media rooms, and landscaped outdoor spaces with custom outdoor kitchens.&nbsp;

Inside, engineered oak flooring, bespoke dining joinery with integrated wine fridges and backlit bars, sculptural porcelain bathrooms, Parisi freestanding baths and Astra Walker tapware create interiors that balance functionality with refined finishes.

Each townhome has been designed to combine generous internal spaces with sustainability initiatives such as EV charging infrastructure, while <a href="https://www.apartments.com.au/landscape-architect/arcadia-landscape-architecture">Arcadia</a>'s landscaped communal areas, centred around a restored creek line and native planting, encourage residents to connect with nature and spend more time outdoors.

[smartcode_project:default project_id=7354 project_image_fid=269527]

Rothelowman's Gary Tsui said the architecture was conceived to respond carefully to its Upper North Shore setting.

"Our vision was to create elegant, uplifting homes that draw on and positively contribute to the local character through meticulously considered design and an interaction with the surroundings."

The communal landscape has been designed as more than an open space between homes. Arcadia's Ben Newell and Kate Phillips said the adjoining reserve provided an opportunity to create a distinctive natural retreat for residents.

"Just as waterways carve their way through Ku-ring-gai's landscape, a raised boardwalk weaves through the reserve, connecting the homes to this tranquil oasis."

[smartcode_project:default project_id=7354 project_image_fid=374892]

Located just 300 metres from <a href="https://www.apartments.com.au/developments/gordon-nsw-2072">Gordon</a> Village and Gordon railway station, Lume offers convenient access to Sydney's CBD while placing residents close to some of the North Shore's leading schools, including Ravenswood, Pymble Ladies' College and Knox Grammar. Lane Cove National Park, Gordon Golf Club and a range of cafés and restaurants further reinforce the family-focused lifestyle on offer, with the BMW iX3 50 complementing everything from local trips around Gordon to weekend drives and city commutes.

Construction is underway with completion expected in mid-2027.

[smartcode_project_cta:default project_id=7354]

Joel Robinson

Boutique Gordon townhomes now come with a BMW iX3 50

Two apartments have sold for more than $10 million at EADE Byron Bay, setting some of the highest apartment prices ever achieved in the coastal town and underlining the growing appetite for luxury beachfront apartments in Australia's most popular coastal locations.

The $210 million project by Vitale Property Group has now secured more than $70 million in sales, led by residences that changed hands for $12.75 million and $11.75 million.

The record-breaking transactions reinforce the shift occurring in Byron Bay's premium property market, where affluent downsizers and lifestyle buyers are increasingly opting for high-end apartments over large beachfront homes.

<a href="https://www.apartments.com.au/new-apartments/eade-byron-bay-29-shirley-street-byron-bay-nsw-2481">EADE Byron Bay</a> occupies a rare 6,000 sqm absolute beachfront site on the corner of Shirley and Milton Streets overlooking Main Beach and The Wreck surf break, just 350 metres from Byron Bay's town centre.

The 25-residence development is the first beachfront apartment project approved in Byron Bay in more than a decade and is currently under construction, with completion expected in May 2027.

[smartcode_project:default project_id=145590 project_image_fid=359521]

The project has attracted a mix of local Byron Shire residents downsizing from larger homes, alongside interstate buyers from Sydney, Melbourne and Brisbane seeking a permanent coastal lifestyle without compromising on space.

Designed by <a href="https://www.apartments.com.au/architects/hayball">Hayball</a> and with interiors by <a href="https://www.apartments.com.au/interior-designers/alexander-co">Alexander &amp; Co</a>, EADE comprises&nbsp;10 garden apartments ranging from 284 sqm to 622 sqm, nine with private pools, five full-floor apartments and 10 rooftop residences with private plunge pools, expansive outdoor entertaining areas and uninterrupted ocean views.

[smartcode_project:default project_id=145590 project_image_fid=359527]

<a href="https://www.apartments.com.au/developers/vitale-property-group">Vitale Property Group</a> Managing Partner Chris Vitale said the project's combination of scale, location and limited future supply was driving buyer demand.

"There isn't another beachfront holding in Byron Bay of this size and position that could be developed again," Vitale said.

"Buyers are responding to the scarcity and the irreplaceability of a site of this calibre and to floorplans they can't find elsewhere in the market.

"We are seeing buyers place significant value on quality, space, design, resort-style amenities and the rarity of the location. The sales achieved to date demonstrate that discerning purchasers recognise the long-term significance of what is being created at EADE Byron Bay.

"Many are coming from larger homes in the Byron region, or from Sydney, Melbourne and Brisbane, and are after the space, security and convenience, without the upkeep of a house."

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[smartcode_project:default project_id=145590 project_image_fid=359523]

The Byron Bay project follows Vitale Property Group's delivery of the Mondrian Hotel and Private Residences at Burleigh Heads, with EADE continuing the developer's focus on luxury coastal developments.

Residents will have access to a resort-style swimming pool, gymnasium, sauna, cold plunge pool, concierge services and dedicated workspaces, while the project is targeting an 8-Star Green Star rating.

EADE Byron Bay is being exclusively marketed by Projx Australia in conjunction with WHITEFOX Projects.

WHITEFOX National Projects Director Phillip Rand said demand had been driven predominantly by owner-occupiers.

"We are seeing buyers at EADE place significant value on quality, space, design, resort-style amenities and the rarity of this location," Rand says.

"The sales achieved to date demonstrate that purchasers at this level recognise the long-term significance of what is being created at EADE Byron Bay."

Residences at EADE Byron Bay are currently priced between $4.75 million and $15.95 million.

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Vitale breaks Byron Bay records with EADE sales flurry 

When buying an apartment, most people compare the big-ticket items first. Floorplans. Kitchens. Balcony size. Natural light. The view.

But there's one everyday consideration that often doesn't come up until after moving in: how parcels are delivered.

As online shopping has become part of everyday life, parcel deliveries have shifted from an occasional event to a regular occurrence. Australians spent a record $82.6 billion shopping online in 2025, with almost one in every four retail dollars now spent digitally.

For apartment residents, that can present a challenge.

If nobody is home to accept a delivery, parcels may be redirected to a nearby Post Office, left in a building lobby or common area, or require building management to step in. In higher-density buildings, where dozens or even hundreds of residents may receive deliveries each day, parcel management has become an increasingly important part of everyday living.

That can create a range of frustrations. A missed delivery often means making time to collect a parcel elsewhere, while packages left unattended in foyers or mail areas can create clutter and increase the risk of theft. What seems like a minor inconvenience can quickly become a recurring issue for residents who shop online regularly.

It's one of those details that rarely features in a display suite but can have a noticeable impact once residents move in.

As a result, buyers are beginning to look beyond traditional apartment features and consider how a building supports day-to-day convenience, including whether there are secure options for receiving deliveries.

Australia Post's Parcel Lockers provide one solution.

<iframe allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" allowfullscreen="" frameborder="0" height="315" referrerpolicy="strict-origin-when-cross-origin" src="https://www.youtube.com/embed/CkF2oKmlACg?si=C50sDaoUUn2nuLmq" title="YouTube video player" width="560"></iframe>

Rather than having a parcel delivered directly to an apartment, eligible deliveries can be sent to a nominated Parcel Locker. Once the parcel arrives, residents receive a notification through the AusPost app or SMS and can collect it using a QR code or one-time PIN at a time that suits them.

The Parcel Locker network now includes more than 1,500 locations nationwide, with installations at Post Offices, shopping centres, transport hubs and an increasing number of residential developments. By providing a secure collection point, Parcel Lockers help reduce missed deliveries and avoid parcels being left unattended in common areas.

For developers, parcel infrastructure is becoming another way to improve the resident experience. Rather than relying on concierge staff or leaving parcels in communal spaces, secure collection points help streamline deliveries while preserving the presentation and functionality of shared areas.

For buyers, it's a reminder that the best apartment features aren't always the most obvious.

A generous floorplan or quality finishes might help narrow the shortlist, but the conveniences that simplify everyday life, whether that's EV charging, secure bike storage or reliable parcel delivery, often become the features residents appreciate most once they're living there.

The apartment feature many buyers don't think about, until their first missed delivery

<a href="https://www.apartments.com.au/developers/hg-developments">HG Developments</a> is doubling down on Maud Street in Newstead, filing plans for a new apartment tower just a few doors down from its under-construction Aire Newstead development.

Recently submitted to Brisbane City Council, the proposal is for an 18-storey building designed by bureau^proberts, which has drawn heavily on Brisbane's subtropical design principles while referencing the suburb's industrial heritage.

A total of 64 apartments are planned for the amalgamated 1,518 sqm site at <a href="https://www.apartments.com.au/new-apartments/17-21-maud-street-newstead-qld-4006">17–21 Maud Street</a>, a short walk from the Brisbane River and Newstead Riverwalk.

<img alt="First look: HG Developments plans 18-storey subtropical apartment tower for Newstead" data-entity-type="file" data-entity-uuid="a400c7fd-bd15-48f8-a63b-10ede92efe00" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Maud%20st%20bldg.png?VersionId=.0vPmjpbC7CNP7kqGWa6L7rGIwsNExaw" />

"The building is defined by a series of vaulted motifs that reinterpret the arches, colonnades and layered facades evident throughout Newstead's historic built fabric," the Urban Design Report states.

"Combined with recessed glazing and generous balconies, these elements create a layered building envelope that provides shade, weather protection and opportunities for natural ventilation whilst establishing a distinctive architectural identity."

The proposal comprises 64 two, three and four-bedroom apartments across 18 residential levels, positioning it alongside a growing number of taller residential projects transforming Newstead's northern precinct. The tower incorporates extensive subtropical landscaping, with cascading planter boxes, deep planting at street level and a landscaped rooftop recreation area.

<img alt="First look: HG Developments plans 18-storey subtropical apartment tower for Newstead" data-entity-type="file" data-entity-uuid="1d8140f4-8b98-45cd-b1b8-1efe8c8e266b" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Maud%20st%20podium.png?VersionId=VAZtbCoD44YCJ57N99fQCAKeSJx7ldZs" />

Bureau Proberts has prioritised passive environmental design throughout the project, with generous balconies, recessed glazing and operable façades helping reduce solar heat gain while maximising natural ventilation. River views become available from the upper levels, while the building has been orientated to capture prevailing breezes from both the Brisbane River and the west.

The architects say landscape is intended to be integral to the building rather than an applied element.

"Vertical greenery, cascading planter boxes and elevated gardens are woven throughout the architecture, softening the built form and strengthening the connection between residents and the subtropical environment."

"Through the integration of landscape, high-quality materials and passive design principles, the development delivers a refined residential address that celebrates Newstead's heritage character while contributing positively to Brisbane's evolving subtropical identity."

Newstead has remained one of Brisbane's most active apartment markets in recent years, with a number of developers continuing to back the inner-city suburb.

HG Developments is currently delivering the 40-apartment Aire Newstead at 25 Maud Street. Fortis recently launched the 65-apartment <a href="https://www.apartments.com.au/new-apartments/crest-walker-newstead-12-kyabra-street-newstead-qld-4006">Crest &amp; Walker</a> on Kyabra Street, while builder-developer BPG and Don O'Rorke's Consolidated Properties are both expected to launch their respective Newstead projects before the end of the year.

HG Developments doubles down in Newstead with second Maud Street apartment development

Walk past a new apartment development promoting its sustainability credentials and it's easy to picture rooftop gardens, mature trees, landscaped courtyards and residents surrounded by nature.

But in many cases, that's not actually what those sustainability ratings guarantee.

Australia's leading environmental rating tools have played a significant role in improving the energy efficiency and environmental performance of buildings. Yet despite their focus on reducing emissions, many don't require developers to include trees, biodiversity or meaningful green space.

In other words, a building can achieve one of the country's highest sustainability ratings while containing little more than concrete, glass and hard landscaping.

That disconnect has led to the emergence of a new movement across Australia's property industry: nature-based cities.

The concept goes beyond designing buildings that consume less energy. Instead, it encourages developers to treat nature as essential infrastructure, integrating biodiversity, tree canopy, living landscapes and green spaces into projects from the earliest stages of planning.

Research has consistently linked access to nature with better physical and mental health, cooler neighbourhoods, improved biodiversity, stronger climate resilience and more connected communities. As Australia's cities continue to become denser, advocates say those outcomes should be considered just as important as energy efficiency.

Nature Based Cities (NBC) was established in 2022 to help accelerate that shift.

Founded by Hamton Executive Chairman Paul Hameister OAM, the not-for-profit was created after research highlighted a significant gap in Australia's sustainability framework. While existing environmental rating tools rewarded energy performance and emissions reductions, they placed little emphasis on the inclusion of living landscapes.

"We've always wanted to do more, and we know other developers who want to do more, but the ESD rating tools just aren't there," Hameister says.

"In Australia, you can have a five-green-star rated building that's concrete and glass with not a blade of grass.

"The focus is on reducing emissions, which is laudable, but there hasn't been enough attention paid to protecting and re-establishing nature. We need both for the health of the environment and for communities."

Since its launch, NBC has developed independent design guidelines and accreditation frameworks that encourage developers to prioritise ecology, biodiversity, tree canopy, walkability and living landscapes alongside traditional sustainability measures. The organisation first focused on medium and high-density residential developments before recently expanding into precinct-scale communities and masterplanned neighbourhoods.

Jan Talacko, founder of sustainability consultancy Ark Resources and a member of the Nature Based Cities Advisory Council, says the initiative addresses an area that has largely been overlooked by the property industry.

"Throughout my 25 years of working collaboratively with all stakeholders in the property sector, I've always favoured a pragmatic approach to sustainable design which encourages initiatives that not only meet environmental expectations but also improve amenity," Talacko says.

"Whilst we are making steady progress in relation to energy and carbon emissions from buildings, there has been much less emphasis on encouraging biodiversity and tackling the urban heat island effect.

"The Nature Based Cities initiative responds to a gap in the suite of tools currently used by the property development sector, which don't provide sufficient incentive, or recognition, for the integration of landscaping and greenery."

For apartment buyers, the shift is also changing the questions worth asking.

Rather than assuming a sustainable building will naturally include abundant green space, buyers are increasingly being encouraged to look beyond environmental ratings and ask what nature is actually being delivered. How much tree canopy will the development create? Has biodiversity been considered? Are landscaped spaces designed for people as well as appearance?

As Australia's cities continue to grow upwards and outwards, the next generation of sustainability may not simply be measured by lower emissions, but by how successfully developments bring nature back into everyday urban life.

Staff reporter

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