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A historical retail strip on the Mornington Peninsula has been listed for sale, marking the first time it will change hands in over 90 years.  
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<a href="https://www.realcommercial.com.au/for-sale/mornington-peninsula-vic/retail/" target="_blank">The Broadway, 1015-1021 Point Nepean Road, Rosebud</a> comprises six retail shops totaling an NLA of 867 sqm located in the heart of Rosebud.
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CBRE has it listed on behalf of Paul and Lloyd Whittaker.  
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Since the building’s completion in 1928, it has operated as The Broadway Theatre cinema, a dance hall frequented by American servicemen during wartime and a popular disco in the 1960s before being converted to retail use. 
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“The Broadway is steeped in a rich history that our family is very proud to have been part of, from our father Frank Whittaker opening the first cinema on The Mornington Peninsula in the late 1920s to the multiple performances by the famous John Farnham held on The Broadway’s stage in the late 1960s,” Paul Paul Whittaker commented. 
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The retail corner, currently leased to tenants including Fight Centre and the popular Foyer Café, is anticipated to generate a fully leased annual income of circa $250,000.  
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Situated on a 1,241sqm parcel of land, the site has combined frontages of over 90 metres to Point Nepean Road, Rosebud Parade and Wannaeue Place. 
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“The Mornington Peninsula continues to strengthen as an investment location due to the high level of capital invested by local businesses,” Mr Hage said.  
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CBRE has handled 24 of the 31 investment transactions that have taken place on the Mornington Peninsula since 2016, notably Sportsgirl Sorrento, which sold earlier this year to a Melbourne based family for $4,070,000 (36 per cent above the vendor’s reserve) and the Peninsula Cinema Portfolio (Rosebud and Sorrento) that was sold on behalf of the prominent Kirby family for a combined amount of almost $10 million. 
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j.ballantyne1990-6AQqhLzZaK

Historic Mornington Peninsula retail strip, The Broadway offered after 90 years

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There are five major market movements that will affect how the Australian infrastructure investment boom is set to peak in 2020, combined with new trends in e-commerce, manufacturing, logistics, and location, according to a new report from Centuria Capital Group (Centuria).
The report found, industrial property has been the most in-demand real estate sector globally for the past two years, and the combination of domestic and international demand for properties in Australia has seen sustained growth in asset values and rents.
It was written by Centuria’s recently appointed Head of Funds Management, Ross Lees, who looked into the factors driving returns from industrial real estate in Australia, and explaied why the outlook for the sector is increasingly positive.
Within the report he notes, prime industrial rents in Sydney are predicted to increase by 7.8% - 12.5% over the next three years, while yields are likely to tighten by 15-25 basis points and values likely to increase by 10.5%-15.2% because economic and social forces at play providing significant tailwinds for industrial property.
"With infrastructure spend peaking next year – and a strong link between infrastructure spend, the economy and industrial property – infrastructure investment will make a significant difference to demand for industrial assets."
"The current infrastructure program is different from the last major spend, on the M7, which opened up new land and allowed for new cheap industrial property to be built cheaply in the newly-serviced areas – creating a net negative for industrial property."
"The current spend, conversely, is happening inside the band – on transport in particular. The consequences for industrial property are likely to be very different."
"Not only is no new land being ‘opened up’ but industrial space is being taken out of the market to allow for the light rail – reducing supply and pushing up prices. This is already happening according to the latest figures – despite our weaker economy."
Another factor is E-commerce’s role in industrial property’s positive fundamentals has also been apparent for some time as it has fueled increased demand.
For every sqm lost in bricks and mortar retailing, 3sqm of warehousing is required. 
The report noted, it is also one of several drivers that have created a global focus on logistics and the importance of supply chain management as a competitive advantage, as well as boosting ‘clean’ manufacturing, customers’ demand for fast delivery, so-called ‘last mile logistics’ has been identified as a key differentiator, and means that warehouses located too far from consumers are less in demand than smaller warehouses closer in.
Meanwhile, clean manufacturing is on the rise – automation, robotics and AI are helping Australian manufacturers control two of their long-standing challenges, high labour costs, the need for scale in a small market and distance to market.
In all, Australian industrial property is on the precipice of strong growth, Centuria concluded.
<a href="https://centuria.com.au/news-and-media/how-australias-2020-infra-peak-will-fuel-industrial-property/" target="_blank"> Read the full report here</a>. 
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Why Australia's industrial infrastructure boom is set to peak in 2020: Centuria

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A St Ives house, at 7 Bimburra Avenue, has sold for $4.55 million pre-auction.
The five-bedroom home features four bathrooms, a double garage, acustomised wine cellar room with 340 bottle storage, expansive lawns, and a large pool.
It is situated on a 1,050 square metre block, and has 410 square metres of internal floorspace. 
The home was completely rebuilt last year by developers Homestead Homes, who purchased the property for $2.25 million.
St Ives median house price is $1.85 million.
Another five-bedroom home, at 50 Cowan Road, represents the suburb most expensive home, having sold in mid-2018 for $10.5 million.
David Walker and David Beveridge, from Ray White Upper North Shore, listed the Bimburra Avenue property. 
 
 
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Bimburra Avenue, St Ives trophy home sold for $4.55 million

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A two bedroom St Peters terrace auction was brought forward by a week to sell for $985,000.
It ranked as the second most-viewed property in the country after its listing on realestate.com.au.
Over 180 individual groups came through the home.
The dilapidated 69 Sutherland Street terrace is so run down the selling agent had attendees had sign a waiver to enter at their own risk. 
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It has three bedrooms, and sits on a 117 square metre block. It was built in 1979. 
There was an initial $700,000 price guide through RRE Properties’ Michael Michos and Jim Michos who said it sold for $240,000 over reserve.
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The property has missing floors, damaged walls, holes in the ceiling and no indoor toilet - It was marketed as "a blank canvass with great fundamentals."
St Peters's median house price is $1.09 million, however the inner-west suburb has not seen the downturn present in much of the country.
 
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Dilapidated St Peters terrace sells for almost $1 million

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Sydney has its second busiest auction week of the year, with vendors securing a preliminary clearance rate of 81 percent, according to CoreLogic.
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There were 931 homes taken to auction across Sydney over the week with some 600 plus on Saturday.
The previous week saw a final clearance rate of 74 percent across 843 auctions. 
One year ago, 844 auctions were held across Sydney returning a 42 percent clearance rate.
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The top reported national sale was in Sydney's Strathfield at $4.85 million.
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The five bedroom <a href="https://www.belleproperty.com/listings/832374/8-cotswold-road-strathfield-nsw-2135/" target="_blank">8 Cotswold Road European style offering </a>(pictured below) through Belle was built in 2007 with 500 sqm internal living space.
It last sold at $2.85 million in 2013.
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Adelaide had the cheapest sale across all the capitals at $275,000 at Kersbrook under instructions of the public trustee.
Primrose Cottage had an auction guide of $290,000 through Harcourts.
The two bedroom 1940s cottage sat on 2000 sqm at <a href="https://harcourtssergeant.com.au/1p10017/" target="_blank">22 Scott Street</a> (pictured below). 
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Sydney's cheapest auction sale was $410,000 for a Newtown studio, a 39 sqm second floor corner position overlooking King Street.
It was recently offered as a $430 a week rental, putting the sale at a 5.45 percent gross rental yield.
It had traded at $345,000 in 2014. 
There were 2,375 homes taken to auction across the combined capital cities this week," Kevin Brogan, CoreLogic auction analyst said.
It was up from 1,555 over the previous week.
Preliminary results show a national clearance rate of 72 per cent, after last week’s final clearance rate dropped to 68 percent.
"Once the remaining results are collected, the clearance rate will likely revise below 70 per cent for the second week in a row," Kevin Brogan said.
One year ago, 2,386 auctions were held across the combined capitals, with only 43.3 per cent returning a successful result.
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Melbourne saw 1,016 homes taken to auction this week, returning a preliminary clearance rate of 70.8 per cent.
Over the same week last year, a clearance rate of 46 per cent was recorded across 1,127 auctions.
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The dearest sale in Melbourne was in Malvern at $4.75 million.
The four bedroom <a href="https://www.rtedgar.com/property/30-elizabeth-street-malvern-vic-3144/37646/" target="_blank">30 Elizabeth Street house</a> (pictured below) sold, soon after its auction, through RT Edgar who had offered $4.6 million price guidance based on sales.
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Melbourne's cheapest sale was $292,000 at Newport.
The <a href="https://www.hockingstuart.com.au/property/4-29-schutt-street-newport-vic-3015-174190" target="_blank">4/29 Schutt Street offering</a> (pictured below) was a one bedroom garden apartment through Hocking Stuart.
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AMP Capital chief economist Shane Oliver noted Melbourne "looks to have cooled a bit from September, especially relative to Sydney."
He also said sales volumes was up from lows "but still well down from boom time highs."
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Across the smaller auction markets, Canberra and Perth saw an increase in auction volumes week-on-week while Adelaide, Brisbane and Tasmania saw fewer homes taken to auction over the week.
There was a big sale on the Gold Coast when<a href="https://www.propertyobserver.com.au/https://raywhitebroadbeach.com/properties/residential-for-sale/qld/benowa-waters-4217/house/2191120" target="_blank"> the Benowa Waters family home</a> (pictured below) of late developer Con Nikiforides has sold under the hammer for $2.728 million.
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The Gold Coast Bulletin reported that three of the four registered bidders got to bid at the auction.
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Sydney mid-November auctions far stronger than Melbourne

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A North Bondi residential development offering has fetched $5.825 million under the hammer in front of 50 people. 
There were eight registered bidders for 120 Hastings Parade. The freestanding house north facing sits on a 474sqm parcel with an extra wide street frontage.
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 The property also has a development approval to create 2 x 3 storey semis.
The sale was through Ray White Double Bay agent Daryl Rosen.
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North Bondi beach house with developmental approval sold for $5.825 million

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There are two basic components to the Morrison government’s latest A$1 billion package response to the drought affecting large parts eastern Australia. One part involves extra subsidies to farmers and farm-related business. The other involves measures to create or upgrade infrastructure in rural areas.
Unfortunately, most funds will be misdirected and the response is unlikely to secure the long-term prosperity of regional and rural communities. This is a quick fix to a political problem, appealing to an important constituency. But it misses the point, again, about the emerging economics of drought.
<h2>Hitting the political target</h2>
The bulk of the A$1 billion package is allocated to a loan fund. The terms of the ten-year loans are more generous than what has been offered in the past. They are now interest-free for two years, with no requirement to start paying back the principal till the sixth year.
Farmers will be able to borrow up to A$2 million. In addition, loans of up to A$500,000 will also be available to small businesses in drought-affected towns.
Because recipients are not having to pay the full cost, these loans are in practice a form of subsidy.
Subsidies are used by government to make more people undertake an activity than would otherwise be the case. In this case the government is offering a subsidy to keep farmers and small businesses owners doing what they’ve been doing, even though from an economic point of view this might not be very wise at all.
The question that should be asked is: “do we want more or fewer people to be involved in a farming activity that is vulnerable to drought?”
Most farming in Australia is completely reliant on rainfed crops and pastures. Rainfall is already highly variable. All the indicators from climate science is that rain will be even more unreliable in the future.
In addition, the agricultural industries currently drought affected are not just at the whims of rainfall. These industries are constantly changing and being affected by new technologies and market forces.
For most agricultural produce the key market force is price. Sure, some farms and farmers can carve out niche markets, but most farm businesses depend on producing at lowest cost. Increasingly, the farms that survive in a highly competitive global environment do this by exploiting economies of scale. Big farms are thus more profitable than small ones in the good times (such as when it rains); and during the tough times (such as during drought) they have more resources and deeper reserves to ride it out.
Ultimately, this means successful farms are continually getting bigger and small farmers are getting squeezed out.
The data also support the view that the farmers who survive and are simultaneously exposed to drought <a href="https://onlinelibrary.wiley.com/doi/10.1111/1467-8489.12195" target="_blank">ultimately become even more profitable</a>, because of what they learnt about managing in a difficult environment.
This is not to argue drought is a good thing for any farm, but it does raise a serious question about any government policy that effectively encourages more people to keep doing something when global and technological forces would point to it being unsustainable.
<h2>So what’s the point?</h2>
The second component of the Morrison government’s relief response involves directing about A$500 million from existing regional infrastructure funds into building roads and other things into affected communities.
While many will welcome this on top of the the extension of loans to small business in country towns, the policy detracts from the serious questions that confront rural and regional communities.
The economics of agriculture has flow-on effects to towns, but it would be wrong to think all are impacted in the same way.
As a general rule, when farmers sell up, they tend to leave from the small communities first. The upshot is that small communities get smaller, older and poorer as those least mobile are left behind. These people also generally require more, not less, public support. Mid-size communities tend to level out, while continuing to age. Large regional centres tend to grow and prosper.
The point is that each community requires different things from government. Genuine public goods like roads, health services and education are desperately needed and undersupplied in many cases. Providing cash to a few select businesses and grading a gravel road in this situation belies the complexity of the long-term challenges and fails to address serious issues.
An elderly retiree in a rural town might well ask why their local road or bridge is only upgraded during a drought. Surely, government should focus on providing legitimate public goods for the long term, regardless of the weather.<img src="https://counter.theconversation.com/content/126583/count.gif?distributor=republish-lightbox-basic" alt="The Conversation" width="1" height="1" style="border: none !important; box-shadow: none !important; margin: 0 !important; max-height: 1px !important; max-width: 1px !important; min-height: 1px !important; min-width: 1px !important; opacity: 0 !important; outline: none !important; padding: 0 !important; text-shadow: none !important;">
<a href="https://theconversation.com/profiles/lin-crase-9904" target="_blank">Lin Crase</a>, Professor of Economics and Head of School, <a href="http://theconversation.com/institutions/university-of-south-australia-1180" target="_blank">University of South Australia</a>
This article is republished from <a href="http://theconversation.com" target="_blank">The Conversation</a> under a Creative Commons license. Read the <a href="https://theconversation.com/australias-drought-relief-package-hits-the-political-spot-but-misses-the-bigger-point-126583" target="_blank">original article</a>.
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Australia’s drought relief package hits the political spot but misses the bigger point

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There are $13 million hopes for the latest offering on Avalon Beach.
It is a five bedroom pavilion style home on an absolute beachfront with a 1,821sqm block.
Set under Norfolk Pines, the Marine Parade home last sold at $9.24 million in 2015.
It has been listed by the former SurfStitch founder Justin Cameron ands his wife Courtney who bought it from Greg Martyr, who sits on the board of advanced 3D manufacturer WarpForge.
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It holds the beachside record, with two sales above $7 million in the meantime.
Avalon Beach, where there is a $1.7 median house price, has 57 properties for sale.
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Based on five years of sales, Avalon Beach has seen a compound growth rate of 7.2 percent for houses, according to realestate.com.au.
The northern beaches was the weekend's best selling locality with a 94 percent success rate from its 55 results.
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Avalon Beach beachfront pavilion style home hits the market 

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GUEST OBSERVATION
There is a phrase in the novel East of Eden that springs to mind every time politicians speak of “drought-proofing” Australia: 
"And it never failed that during the dry years the people forgot about the rich years, and during the wet years they lost all memory of the dry years. It was always that way."
While author John Steinbeck was referring to California’s Salinas Valley, the phrase is particularly pertinent to Australia where the <a href="http://www.bom.gov.au/climate/updates/articles/a020.shtml#targetText=La%20Ni%C3%B1a%20occurs%20when%20equatorial,and%20eastern%20tropical%20Pacific%20Ocean.&amp;targetText=As%20a%20result%2C%20heavy%20rainfall,to%20the%20north%20of%20Australia." target="_blank">El Niño-Southern Oscillation</a> exerts a profound influence. Water availability varies greatly across the country, both in space and time. El Niño conditions bring droughts and devastating bushfires, while La Niña is accompanied by violent rainfall, floods and cyclones.
This variability is innate to the Australian environment. And now, climate change means that in some regions, the dry years are becoming drier and the wet years are becoming less frequent. Managing water resources under a changing climate and burgeoning population requires innovative and realistic solutions that are different to those that have worked in the past.
Drought-proofing is impossible
Planning for the dry years involves setting sustainable usage limits, using more than one source of water, efficiency improvements, managed aquifer recharge, water recycling and evaluation of the best usage of water resources. It does not <a href="https://newsroom.unsw.edu.au/news/social-affairs/australia-should-never-be-%E2%80%98drought-proofed%E2%80%99-again" target="_blank">involve misleading claims of drought-proofing</a> that infer we can somehow tame the unruly nature of our arid environment instead of planning and preparing for reality.
Unlike managing for the wet and dry periods, drought-proofing seeks to negate dry periods through infrastructure schemes such as large dams (subject to huge evaporative losses) and dubious river diversions. It fails to acknowledge the intrinsic variability of water availability in Australia, and modify our behaviour accordingly.
The reality is that in many parts of the country, <a href="http://www.groundwater.com.au/media/W1siZiIsIjIwMTQvMDMvMjUvMDFfNTFfMTNfMTMzX0dyb3VuZHdhdGVyX2luX0F1c3RyYWxpYV9GSU5BTF9mb3Jfd2ViLnBkZiJdXQ/Groundwater%20in%20Australia_FINAL%20for%20web.pdf" target="_blank">groundwater is the sole source</a> of water and the climate is <a href="http://www.bom.gov.au/water/waterinaustralia/" target="_blank">very dry</a>. A cornerstone of the recently launched <a href="https://minister.infrastructure.gov.au/mccormack/media-release/national-water-grid-authority-future" target="_blank">$100 million National Water Grid Authority</a> is the construction of more dams. But dams need rain to fill them, because without rain, all we have is empty dams. And we have enough of those already.
A history of denial
Just because Dorothea Mackellar wrote of “droughts and flooding rains” over 100 years ago, it doesn’t mean water management should proceed in the same vein it always has.
Australia has always had a variable climate, which changes significantly from year to year and also decade to decade. This not the same as a <a href="https://www.pacificclimatefutures.net/en/help/climate-projections/understanding-climate-variability-and-change/#targetText=Climate%20is%20the%20long%20term,trend%20in%20the%20mean%20climate." target="_blank">long-term climatic trend</a>, better known as climate change.
Climate change is making parts of Australia even drier. Rainfall in the south-eastern part of Australia is <a href="https://publications.csiro.au/rpr/download?pid=csiro:EP127070&amp;dsid=DS3" target="_blank">projected to keep declining</a>. We cannot rely on blind faith that rains will fill dams once more because they have in the past.
Yet inevitably, during the dry years, claims that Australia can be “drought-proofed” are renewed. Deputy Prime Minister Michael McCormack <a href="https://minister.infrastructure.gov.au/mccormack/media-release/national-water-grid-authority-future" target="_blank">recently praised </a>the <a href="https://go-gale-com.ezp.lib.unimelb.edu.au/ps/retrieve.do?tabID=T002&amp;resultListType=RESULT_LIST&amp;searchResultsType=SingleTab&amp;searchType=AdvancedSearchForm&amp;currentPosition=3&amp;docId=GALE%7CA202253089&amp;docType=Essay&amp;sort=Relevance&amp;contentSegment=ZAHD&amp;prodId=PPWH&amp;contentSet=GALE%7CA202253089&amp;searchId=R1&amp;userGroupName=unimelb&amp;inPS=true" target="_blank">Bradfield scheme</a>, an 80 year old infrastructure project intending to divert northern river flows inland. It has been <a href="https://www.propertyobserver.com.au/https://www.abc.net.au/news/2019-06-18/fact-file-bradfield-scheme-drought-relief/11216616" target="_blank">so thoroughly debunked</a> on all scales, it is better described as a pipe-dream than piping scheme. It has no place in reasonable water management discourse.
The concept of drought-proofing harks back to the days of European settlement. Early water management techniques were more appropriate for verdant English fields than the arid plains of Australia.
In the early twentieth century, water resources were vigorously developed, with government-sponsored irrigation schemes and large dams constructed. During this time, little thought was given to sustainability. Instead, the goal was to stimulate inland settlement, agriculture and industry. Development was pursued despite the cost and ill-advised nature of irrigation in particular areas.
Shifting long entrenched perceptions of water management
All this said, irrigation certainly has its place: it supports a quarter of Australia’s agricultural output. And there are substantial efforts underway to rebalance water usage between irrigation and the environment.
However, acknowledgement of the relative scarcity of water in certain parts of Australia has only really occurred in the last 30 years or so.
Widespread droughts in the <a href="https://www.abs.gov.au/AUSSTATS/abs@.nsf/lookup/1301.0Feature%20Article151988" target="_blank">late 1970s and early 1980s</a> highlighted the importance of effective water management and shifted long-entrenched perceptions of irrigation and development. <a href="https://www.propertyobserver.com.au/https://www.crcpress.com/Water-Policy-in-Australia-The-Impact-of-Change-and-Uncertainty/Crase/p/book/9781933115986" target="_blank">Water reforms were passed</a>, mandating future water development be environmentally sustainable development, which meant, for the first time, water resource management sought a balance between economic, social and environmental needs.
Antiquated ideas about drought-proofing, pushed by politicians, promise much yet deliver little. They distract attention and siphon funds from realistic solutions, or actually re-evaluating where and how we use our limited water resources.
We need practical, effective and well-considered management such as water recycling, efficiency measures and source-divestment that accounts for both shorter term climatic variability and long term changes in temperature and rainfall due to climate change. A big part of this is <a href="https://www.wentworthgroup.org/docs/Can_We_Myth_Proof_Australia.pdf" target="_blank">managing expectations through education</a>.
Attempting to drought-proof Australia is not “managing for the dry periods”, as advocates claim. It is sticking our heads in the dry, salty sand and pretending the land is cool and green and wet.<img src="https://counter.theconversation.com/content/124504/count.gif?distributor=republish-lightbox-basic" alt="The Conversation" width="1" height="1" style="border: none !important; box-shadow: none !important; margin: 0 !important; max-height: 1px !important; max-width: 1px !important; min-height: 1px !important; min-width: 1px !important; opacity: 0 !important; outline: none !important; padding: 0 !important; text-shadow: none !important;">
Emma Kathryn White, PhD Candidate, Infrastructure Engineering, University of Melbourne.
This article is republished from <a href="http://theconversation.com" target="_blank">The Conversation</a> under a Creative Commons license. Read the <a href="https://theconversation.com/we-cant-drought-proof-australia-and-trying-is-a-fools-errand-124504" target="_blank">original article</a>.
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We can’t drought-proof Australia, and trying is a fool’s errand

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The Darwin property market, on the back of a sustained period of contraction from 2016 onwards, is still suffering across all facets of the residential market and the investor segment is no different, according to a recent Herron Todd White (HTW) residential report. 
The valuation firm took a look at rental yields across the nation. 
The report suggests several factors directly affecting this range from the tightening lending practices aimed at interest only loans, contraction of capital values, population decrease and a general oversupply of both unit and dwelling stock.
These aspects are troubling however it is a general consensus among all professionals in the property industry that a dramatic correction needed to occur to cool off the over inflated house prices and rentals.
For standard dwellings, rental yields generally sit at 4.6%, according to the REINT, which is slightly above the average seen in other Australian capital cities.
During the peak period of the recent mining boom, high rents on corporate long-term leases reflected yields of 7% to 8% which were driving strong investor demand.
"Since this period, we have seen a dramatic contraction in terms of annual returns and a greater chance of minimal capital growth," the valuation firm said. 
"Investor activity in this segment as a result has dramatically declined, with a small percentage of investors taking up the Defence Housing sale and leaseback scheme."
The scheme offers a long term nine-year plus three-year term at a yield of 5.2%.
This guaranteed income provides an attractive option where vacancy rates and the possibility of rental price weakening may be a determining factor.
The trade-off is a high management fee of 16.5%.
With regard to unit stock, traditionally investor activity in Darwin has been directly linked to large gas and mining projects requiring accommodation for transitory workers.
These long-term leases with attractive yields have certainly diminished with the completion of the construction phase of the Ichthys Inpex Gas Project in late 2018.
"This type of investment did achieve quite high yields, however obviously at higher risk," the valuation firm stated. 
The median unit price in Darwin now sits at $325,000 which is 15% lower than mid-2018 however the transaction levels have improved by a similar percentage.
These factors may indicate there is some faith returning to this section of the market.
With every situation, there is a silver lining and generally low capital values present many opportunities for investors looking to purchase in the Territory.
In addition, latest results for residential dwellings across the entire Darwin market have shown a stable median price of $500,000 (from mid 2018) which does indicate the market is slowly returning to a healthier state.
This is mirrored in transaction volumes improving slightly by 5% from June 2018, according to REINT.
"For investors looking to take advantage of weak prices, the Darwin CBD has the most options available," the valuation firm commented. 
Dated one-bedroom stock can be purchased from the early $100,000 mark which is almost half the price at the peak of the market in 2014.
An entry level unit of this type would typically rent for $230 per week which translates to an extremely attractive gross rental yield of 9.5%.
At a step slightly higher in value, a recent three-bedroom, two-bathroom sale of a semi-modern inner city unit in Stuart Park sold for $265,000.
This unit sold with a gross rental yield of 7.8%, a strong indication that there are opportunities for investors to get a solid return on investment.
These returns in the private sector are subject to market movement and susceptible to the particular terms of the landlord and tenant, factors which must be taken into account.
These types of leases are typically for periods of one year, with management fees of around 8% to 12% per annum.
"So how does Darwin fare for investors? Looking purely at returns, Darwin does offer attractive options being on average slightly stronger than the other capital cities (source: Core Logic, April 2019)," the valuation firm said. 
"The economic downturn has made a significant change in the property landscape, greatly decreasing values across the board and therefore increasing the opportunity for a good buy.
"Coupled with traditionally strong rentals, we do consider Darwin a good place for investors if they are willing to put the time and effort into researching the prospective purchase.
"Southern investors wishing to chase a capital return may face some dilemma however, with limited growth expected in the short to medium term." 
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Darwin residential market slowly returning to a healthier state: HTW residential 

The residential transformation of St Kilda Road is set to continue into with more new apartment plans for the sought-after boulevard.

Wing Tai Asia has lodged plans for a major residential tower at 464-466 St Kilda Road, replacing the former VACC House with an 18-storey mixed-use development designed around a retained heritage podium and a sculpted contemporary tower.

The proposal, prepared under Victoria’s Significant Residential Development with Affordable Housing pathway, would deliver 325 apartments and ground-floor retail across the prominent 4,653 sqm boulevard site in Melbourne’s St Kilda Road North Precinct.

The project centres on the adaptive reuse of the site’s heritage-listed VACC Building, an eight-storey office designed by Bernard Evans that has occupied the address for decades. Planning documents state the development would involve “carefully dismantling and conserving off-site the original metal fabric of the podium visible from St Kilda Road,” before reinstating it as the defining frontage of the new scheme.

Above the restored podium, Wing Tai is proposing a curvilinear residential tower. The scheme includes 172 one-bedroom apartments, 63 two-bedroom apartments, 66 three-bedroom apartments, and 24 four-bedroom apartments, alongside two ground-floor food and beverage tenancies fronting St Kilda Road.

The tower has been designed with substantial articulation and variable setbacks to minimise perceived bulk and maintain view corridors along the boulevard. Urbis, which prepared the planning report, said the design “has been significantly articulated through a curvilinear design” with “an interplay with materials, façade expression and depth” to create visual separation and visual interest.

The proposal also includes 254 basement car spaces, landscaped pedestrian links connecting St Kilda Road and Queens Lane, and a biophilic landscape strategy featuring canopy trees, raised planters, cascading greenery and a glass oculus pool overlooking the eastern frontage.

Planning documents confirm the $270.1 million development will contribute 3 per cent of project costs to the Social Housing Growth Fund as part of the application process.

Wing Tai acquired the St Kilda Road property in 2018 alongside Abacus Property Group for $95.38 million, before later consolidating ownership of the site. The property previously served as the Victorian Automobile Chamber of Commerce headquarters for around 60 years.

The transformation of the St Kilda Rd boulevard is already beginning to materialise, with a number of high-profile projects recently completed, launched, or approaching launch as developers continue to back the long-term appeal of the precinct.

Among the most notable recent completions is Louise by Samuel Property Group, just off the strip on Queens Lane, the same pocket Hirsch &amp; Faigen recently launched The Queensbury. Mirvac is too on the same street with The Albertine, which is approaching completion.

Dexus recently secured approval for its slice of St Kilda Road, while Gurner also has approved plans for the precinct.

Joel Robinson

Wing Tai unveils 325-apartment St Kilda Road tower on former VACC House site

Malaysian developer <a href="https://www.apartments.com.au/developers/s-p-setia">SP Setia</a> is the latest to jump into St Leonards booming Transport Oriented Development precinct.

The developer, which has previously delivered Sapphire by the Gardens apartment development in Melbourne, identified the Atchison Street site in 2023. It filed a Scoping Report around 12 months ago, and now has revealed the designs for the new&nbsp;40-storey mixed-use tower.

The State Significant Development Application covers <a href="https://next-portal.urban.com.au/projects/14650/summary">20-22 Atchison Street</a>, a 1,374 sqm site positioned between St Leonards Station and the new Crows Nest Metro station.

Designed by <a href="https://www.apartments.com.au/architects/cox-architecture">COX Architecture</a>, the project would deliver 181 apartments, above a four-storey commercial podium, five basement levels, and new public domain works along Mitchell Street. The apartment mix comprises 35 one-bedroom apartments, 39 one-bedroom-plus-study apartments, 85 two-bedroom apartments, and 22 three-bedroom residences.

The proposal has been lodged as a shop-top housing development under the NSW Government’s TOD planning pathway, which allows increased density around key transport infrastructure. The site sits within the recently rezoned Crows Nest Accelerated TOD Precinct.

<img alt="First look: SP Setia targets St Leonards skyline with 40-storey TOD tower" data-entity-type="file" data-entity-uuid="b799673d-48e2-46b0-801a-0e33a9330100" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/atchinson%20site.png?VersionId=dPh0UfwfaHpbFL1R7H1cbZNbIW0CHbCC" />

SP Setia acquired the Atchison Street site as part of its continued expansion into the Australian apartment market. In comments made to City &amp; Country (The Edge Malaysia) in 2023, SP Setia President and CEO Datuk Choong Kai Wai described the acquisition as “a strategic move” aligned with the group’s post-pandemic market recovery strategy.

“Our target for this exceptional development is local and overseas buyers, including first-home buyers, downsizers and investors,” Choong said.

The tower has been designed as a slender vertical form rising from a mixed-use podium, with COX Architecture positioning the development as a response to the evolving St Leonards and Crows Nest skyline.

“The purpose of the project is to facilitate the delivery of high-quality housing at a strategically located site and deliver a built tower outcome that is consistent with the desired future character of St Leonards and aligns with the TOD controls,” the design report stated.

<img alt="First look: SP Setia targets St Leonards skyline with 40-storey TOD tower" data-entity-type="file" data-entity-uuid="b1a85eee-76f7-436c-a6da-73ba827b9b13" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/atchinson%20entry.png?VersionId=dA9jHGPMcm.dDbwk4QfxqWiY5bfh3UVt" />

The podium would incorporate retail uses fronting Atchison Street, commercial tenancies, landscaped communal areas, and pedestrian improvements along Mitchell Street. Vehicle access and loading would be consolidated via Atchison Lane.

Residents would have access to more than 665 sqm of communal indoor and outdoor spaces, while the development proposes 96 parking spaces across five basement levels.

The proposal also includes a commitment for 10 per cent of residential floor space to be allocated toward affordable housing through a monetary contribution.

COX said the tower form responds directly to the emerging high-density character of the precinct while seeking to maximise solar access, cross ventilation, and outlook from apartments.

<img alt="First look: SP Setia targets St Leonards skyline with 40-storey TOD tower" data-entity-type="file" data-entity-uuid="2163f85c-f63b-4be3-aafa-f8763976cec5" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Article%20Feature%20Image%20%28Grid%29_5.png?VersionId=WiAmtIKJ6.ZQ41EtYEQ1fol7AeorKBlL" />

“The building is orientated towards north,” the Apartment Design Guide compliance report noted, adding that the tower’s slim form was driven by the constrained inner-urban site dimensions.

The design also incorporates landscaped setbacks and communal open space at podium level, intended to soften the interface with surrounding streets and improve pedestrian amenity.

The project adds to a growing wave of redevelopment proposals reshaping St Leonards and Crows Nest following the opening of the Sydney Metro City line and the NSW Government’s push for higher-density housing around major transport nodes.

Last week Stockland filed plans just down the road. They want to build a <a href="https://www.apartments.com.au/new-apartments/601-pacific-highway-st-leonards-nsw-2065">52-storey tower on Pacific Highway</a>.

Read more:&nbsp;<a href="https://www.apartments.com.au/news/nsw/first-look-stockland-plans-52-storey-538-apartment-st-leonards-tower">First look: Stockland plans 52-storey, 538-apartment St Leonards tower&nbsp;</a>

First look: SP Setia targets St Leonards skyline with 40-storey TOD tower

<a href="https://www.apartments.com.au/developers/urban-property-group">Urban Property Group</a> has revealed plans for a new mixed-use tower at 10 Dangar Street, Wickham, advancing a proposal that would reshape the southern gateway to Newcastle’s city centre with one of the city’s tallest residential buildings.

The State Significant Development proposal, now on exhibition, seeks approval for a <a href="https://www.apartments.com.au/new-apartments/bowline-10-dangar-street-wickham-nsw-2293">43-storey tower</a> immediately adjacent to the Newcastle Interchange. The project would deliver around 200 apartments, including 42 affordable housing dwellings, alongside 99 co-living units, a 171-room hotel, retail space, and new public domain integrated through the site.

The scheme marks a significant escalation of plans previously approved for the site. Urban Property Group took over the prominent 2,904 sqm parcel, where excavation and demolition had already commenced under an earlier consent for a 14-storey mixed-use development.

<img alt="First look: Urban Property Group unveils Newcastle’s next supertower at Wickham interchange" data-entity-type="file" data-entity-uuid="58a96dd9-407f-4d20-86b4-94e4bfeef74b" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/wickham%20podium.png?VersionId=LGlf08pdFGAZDzvx_CXC4XakHNZRuEE0" />

Designed by <a href="https://www.apartments.com.au/architects/sjb-architects">SJB</a>, the tower has been conceived as a landmark transit-oriented development anchored to the Newcastle Interchange precinct. The proposal includes 245 build-to-sell apartments across a mix of one, two, and three-bedroom residences, as well as two penthouses. Fifteen apartments and one operational unit are earmarked for NDIS housing. The co-living component would add a further 99 units, while the podium would accommodate retail uses and hotel facilities.

SJB said the site presents “a valuable opportunity to anchor the precinct by setting the standard for design, active ground planes and character at the key southern gateway.”

The architecture responds directly to the site’s position beside major transport infrastructure and within one of Newcastle’s fastest-evolving urban renewal precincts. The tower form sits above a sculpted podium designed to frame new public spaces, including a through-site pedestrian link connecting Station Street to Hannell Street, landscaped plazas, and activated retail edges.

<img alt="First look: Urban Property Group unveils Newcastle’s next supertower at Wickham interchange" data-entity-type="file" data-entity-uuid="a7bd6ff0-f7db-4ce8-a6dc-ea56e72c6149" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/wickham%20lanne.png?VersionId=xzf39VADyhj7zBQY2I9fx9vI62u2tuSb" />

The design report describes the project as part of the broader transition of Wickham into “a vibrant, high-quality mixed-use urban precinct” that leverages proximity to the station, open space, and regional connectivity.

A detailed public art strategy has also been prepared for the development. The strategy positions the project as “a transit-oriented development of state significance at the gateway to Newcastle’s city centre” and outlines a series of integrated artworks responding to Newcastle’s industrial and transport heritage.

Creative Road’s curatorial framework for the project, titled Unveil, draws on “stratified surfaces, carved volumes, and light-filled apertures” while referencing Newcastle’s transformation from an industrial city into a contemporary education and technology hub.

<img alt="First look: Urban Property Group unveils Newcastle’s next supertower at Wickham interchange" data-entity-type="file" data-entity-uuid="77a882bb-14b1-4d28-99ff-9438e39508c0" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/wickham%20site.png?VersionId=cevgo_vN0eKPK78P8YcEu3mKPLkpFqE7" />

The proposal is being advanced through the NSW Housing Delivery Authority pathway after being declared State Significant Development in June 2025. The accompanying scoping report states the development aims to “maximise the site’s proximity to the Newcastle Interchange by delivering transit-oriented development” while increasing housing supply and affordable housing provision within the Newcastle LGA.

Urban Property Group’s plans align with the long-term strategic vision established under the Wickham Master Plan, which identified the interchange precinct as suitable for substantial uplift in height and density. The current proposal would significantly intensify that vision, positioning the tower among the tallest developments proposed for Newcastle.

The site sits immediately north of the Newcastle Interchange, bounded by Dangar Street, Hannell Street, and Charles Street. It is surrounded by a rapidly growing cluster of residential towers and mixed-use projects that have emerged following the completion of the light rail and transport interchange.

First look: Urban Property Group unveils Newcastle’s latest tower at Wickham interchange

Bottega House has completed settlement of a landmark riverfront site in Macquarie Street, St Lucia, representing its first major Brisbane development.&nbsp;

Positioned on the banks of the Brisbane River, the <a href="https://www.apartments.com.au/new-apartments/180-macquarie-street-st-lucia-qld-4067">premium site at 180 Macquarie Street</a> features uninterrupted river frontage in one of Brisbane’s most tightly held residential precincts.&nbsp;

The proposed development, currently under assessment with Brisbane City Council, has been designed by <a href="https://www.apartments.com.au/architects/plus-studio">Plus Studio</a> with interiors by <a href="https://www.apartments.com.au/interior-designers/mim-design">Mim Design</a> and will deliver a boutique collection of premium residences positioned specifically for owner occupiers and downsizers.&nbsp;

The residences are set to redefine luxury apartment living in the area, with a focus on architectural quality, refined finishes, landscape integration and elevated amenities including curated wellness facilities, resort-style pools and recreation spaces rarely seen in the local market.&nbsp;

Exclusive sales for the project will be led by Keenan &amp; Byrne, ahead of an anticipated launch later this year.&nbsp;

Bottega House Managing Director Nick Malloch said the project reflects the group’s ambition to deliver a highly curated residential offering within one of Brisbane’s most tightly held precincts.&nbsp;

“This is an incredibly rare riverfront opportunity and one we have approached with a long-term perspective,” Malloch said.&nbsp;

“Our vision from the outset was to create a boutique collection of residences that feel more like private homes than traditional apartments, with generous proportions, refined finishes and exceptional amenity throughout."

Malloch says there is a&nbsp;lack of premium owner-occupier stock of this quality in the market, particularly for downsizers wanting space, privacy and a true lifestyle offering without compromise.&nbsp;

"Demand is expected to be strong given the scarcity of premium riverfront opportunities of this nature within Brisbane’s inner-west."&nbsp;

Bottega House secures landmark riverfront site in St Lucia 

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The arrival of the first piling rig officially marks the commencement of construction at SIERA’s new beachside apartment development, Exhale, in Northcliffe.

<a href="https://www.apartments.com.au/new-apartments/exhale-surfers-paradise-8-enderley-avenue-surfers-paradise-qld-4217">Exhale</a>, a glass-encased tower featuring 54 large-scale apartments at 8 Enderley Avenue, is SIERA’s third Gold Coast development. It follows the recently completed PIPIS Bilinga beachfront project, which achieved suburb-record prices, and the soon-to-be-completed Chevron Island development, Tapestry.

[smartcode_project:default project_id=112661 project_image_fid=359603]

<a href="https://www.apartments.com.au/developers/siera">SIERA</a> Founder and Managing Director Brent Thompson said the arrival of the piling rig represented a significant milestone for the development, which is scheduled for completion in late 2028.

Over the next month, around 260 piles are expected to be installed as work progresses on the basement structure. The building is anticipated to rise above ground level early next year, before unveiling its sculptural glass curtain wall, developed in collaboration with specialist façade engineers.

“The façade was designed to maximise panoramic coastal views while creating a distinctive architectural identity,” Thompson said.

[smartcode_project:default project_id=112661 project_image_fid=355935]

Designed by BDA Architecture, Exhale will comprise just 54 two- and three-bedroom residences across 26 levels, a level of low-density living rarely delivered in this beachside pocket between Surfers Paradise and Broadbeach.

The project has been conceived as a resident-only building, with no short-stay accommodation permitted. SIERA says the model is intended to appeal to long-term owner-occupiers rather than transient holiday demand.

[smartcode_project:default project_id=112661 project_image_fid=361052]

Residences have been designed with large-format layouts and expansive glazing, with most apartments featuring more than 30 metres of glass frontage to maximise natural light and ocean views.

The amenity offering spans two levels and centres on wellness and lifestyle, including a heated magnesium pool, sauna, yoga and Pilates studio, gymnasium, private dining facilities, cinema lounge, and dedicated surfcraft storage.

[smartcode_project:default project_id=112661 project_image_fid=359607]

More than half of the apartments have already sold. SIERA has also opened a sales gallery for Exhale at its Chevron Island commercial premises, near its Tapestry tower and the site of its second Chevron Island apartment development, which is slated to launch in early 2027.
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[smartcode_project_cta:default project_id=112661]

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