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The Hobart market is starting to show signs it is approaching or has reached its current cycle price peak, according to a recent Herron Todd White (HTW) residential report. 
CoreLogic suggests that the median price actually slipped a touch in March.
"On the ground, we are seeing a flattening of prices in the inner ring, however demand for prestige remains historically firm," the valuation firm stated. 
A penthouse apartment located in the heart of Hobart CBD has recently been sold for over $1 million. 
The apartment at <a href="https://www.realestate.com.au/sold/property-apartment-tas-hobart-131418934" target="_blank">5A/117 Collins Street </a>(pictured below) comprises master bedroom, two additional bedrooms, kitchen and open plan living.
<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/2019/8/20/hobart.jpg" alt="">
It's just minutes to Salamanca and the Wharf. 
"In the middle to outer ring however we continue to see positive pricing and competition for housing. This is true for the 50-kilometre commuter radius," the valuation firm added. 
A three-bedroom house at Primrose Sands (pictured below) has been recently sold for $252,000.
Situated about 150 metres from the beach, the house at <a href="https://www.realestate.com.au/sold/property-house-tas-primrose+sands-131682878" target="_blank">8 Esplanade</a> comes with three bedrooms, open plan living, dining and kitchen, and single lockup garage. 
It has been offered for the first time since 2003.
<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/2019/8/20/primrose%20sands.jpg" alt="">
The report notes that vacancy rates remain tight with little evidence of the housing shortage easing.
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j.ballantyne1990-6AQqhLzZaK

Hobart market reaches price peak: HTW residential 

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In the south-east of South Australia, $500,000 will enable you to purchase a wide variety of property, according to a recent Herron Todd White (HTW) residential report. 
The report suggests that few dwellings sell for more than $500,000 each year and demand for property tends to reduce significantly within this price range given the median house price is around $265,000.
"Houses that have sold for around $500,000 within the past year include the following Mount Gambier properties. This shows that you can buy a good quality dwelling for this price," the valuation firm says. 
<ul>
<li>
<a href="https://www.realestate.com.au/sold/property-house-sa-mount+gambier-126845570" target="_blank">15 Redwood Avenue, Mount Gambier </a>SA 5290 (pictured above) - $518,000</li>
</ul>
A circa 2008 three-bedroom, two-bathroom, detached dwelling on 950 square metres located in a good modern residential division surrounded by quality homes.
 <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/2019/8/15/mount%20gambier%202.jpg" alt="">
<ul>
<li>
<a href="https://www.realestate.com.au/sold/property-house-sa-mount+gambier-127030338" target="_blank">17 Jardine Street, Mount Gambier </a>SA 5290 (pictured above) -  $500,000</li>
</ul>
A circa 1902 four-bedroom, two-bathroom, renovated character dwelling on 1,050 square metres, centrally located and surrounded by quality homes.
Below is a typical rural living property situated on the outskirts of Mount Gambier.
<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/2019/8/15/mount%20gambier%203%20.jpg" alt=""> 
<ul>
<li>
<a href="https://www.realestate.com.au/sold/property-house-sa-worrolong-128437902" target="_blank">47 Eldridge Drive, Worrolong </a>SA 5291 (pictured above) - $505,000</li>
</ul>
A circa 2011 four bedroom, two bathroom dwelling on 3,201 square metres located on the edge of Mount Gambier with good quality properties surrounding, situated on country living allotments.
"The best performing properties around the $500,000 range are generally large modern dwellings situated in modern residential divisions, properties located on the outskirts of town on rural living size allotments and renovated character dwellings that are centrally located, such as the sales above," the valuation firm commented.
These properties could achieve a rental return of between 4-4.5%, however most of these properties are owner-occupied.
"Within Mount Gambier we do not generally see any units or attached housing selling for $500,000 or above," HTW said. 
The median sale price for Mount Gambier for May 2019 is $265,000, therefore all of the above properties are considered to be at the top end of the market.
"The market has remained relatively stable over the past 12 months with similar market conditions to last year.
"For $500,000 you can purchase a similar property this year to what you could last year." 
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Few dwellings sell for over $500,000 in Mount Gambier: HTW residential 

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GUEST OBSERVATION 
Farming families and communities in Queensland’s remote north are being left behind by the digital economy, putting them at significant social and economic disadvantage.
Our <a href="https://www.cairnsinstitute.jcu.edu.au/connectivity-and-digital-inclusion/" target="_blank">report</a>, launched in Cairns today, details the impacts of low levels of “digital inclusion” among farmers in Far North Queensland (FNQ), for whom reliable internet connection is not a given.
People in rural and remote areas – including Indigenous communities – score much lower than urban Australians on the <a href="https://digitalinclusionindex.org.au/" target="_blank">Australian Digital Inclusion Index</a>. This index – which measures access to technology, affordability of connections, and digital ability – shows that North West Queensland (which includes FNQ grazing lands) is one of the least digitally included regions in Australia.
The index also shows that farmers have lower digital inclusion scores than others in similar socioeconomic circumstances. Farmers’ experiences of digital exclusion are therefore worthy of investigation.
While some Australian farmers are getting online and adopting various forms of agricultural technology such as drones, sensors and automated vehicles, many are being left behind. Given that a <a href="https://www.industry.gov.au/data-and-publications/australias-tech-future" target="_blank">2018 federal government report</a> on Australia’s tech future predicted that agriculture will be transformed by digital technologies, it is important to understand how best to help farmers in remote areas get on board.
<img src="https://images.theconversation.com/files/287675/original/file-20190812-71897-1024wxf.JPG?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=754&amp;fit=clip" alt="">
Australian Digital Inclusion Index - Queensland (2018)
Our research revealed a range of findings about the impacts of low levels of digital inclusion for FNQ farmers. Here are four of the main insights from the report.
Farmers pay more for less
Challenges with unreliable services, network congestion, slow internet speeds, and data caps in rural and regional Australia are <a href="https://theconversation.com/regional-australia-is-crying-out-for-equitable-access-to-broadband-69711" target="_blank">well documented</a>. In rural FNQ, mobile, internet and landline connections are often intermittent or drop out altogether. Therefore, many farmers “layer up” on service plans and devices.
For example, a FNQ farming family may have several mobile phones and plans with different providers, a satellite phone and plan, a home landline, and a wireless or satellite connection to the National Broadband Network (NBN). An urban family, meanwhile, may have just one provider that guarantees access and unlimited data to all devices in the household. Farmers pay more for less.
Data is scarce in remote households
Data scarcity is also an issue for farming families, particularly in remote households with only satellite internet connection. Unlike the unlimited fixed-line NBN plans available in urban areas, plans using NBN’s <a href="https://www.nbnco.com.au/corporate-information/media-centre/media-statements/lift-off-for-first-nbn-satellite" target="_blank">Sky Muster</a> satellite are capped, and often more than half of the data is only available in off-peak times, such as between midnight and 7am.
This affects how remote families live, and limits people’s access to digital opportunities. Farming women in particular have to monitor the data consumption of adults, kids, workers, and visitors – often there is not enough to go around.
Deciding what digital activities (banking, homework, job-seeking, video-calling) to prioritise – and who misses out – can be stressful and contentious.
<img src="https://images.theconversation.com/files/288109/original/file-20190815-136208-1r32oob.jpg?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=754&amp;fit=clip" alt="">
Data scarcity is also an issue for farming families on the Savannah Way, Far North Queensland. Amber Marshall
Farmers need to be online to comply with the law
To meet their <a href="https://www.mla.com.au/meat-safety-and-traceability/red-meat-integrity-system/about-the-livestock-production-assurance-program/lpa-accreditation/" target="_blank">accreditation requirements</a>, FNQ cattle producers must complete online modules on various topics including biosecurity, transport methods, and animal welfare. Complying with <a href="https://www.qld.gov.au/environment/land/management/vegetation/clearing" target="_blank">vegetation clearing laws</a> also involves accessing <a href="https://www.qld.gov.au/environment/land/management/vegetation/maps/map-request" target="_blank">maps</a> that are only readily available online. Many farmers struggle to gain access to the internet, log in on a suitable device, navigate the online platforms, and complete the mandatory training. Many therefore risk noncompliance.
For similar reasons, some graziers are resisting digitisation of the <a href="https://www.nlis.com.au/" target="_blank">National Livestock Identification System</a>, which is used to track the movement of cattle nationally. This system is essential for biosecurity, meat safety, product integrity, and market access. Breaches to the system could have catastrophic consequences for the beef industry, for instance in the event of a freeze on the wider movement of cattle.
<img src="https://images.theconversation.com/files/287676/original/file-20190812-71940-iww83c.jpg?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=754&amp;fit=clip" alt="">
Farmers complete an online LPA animal welfare module at a Northern Gulf Resource Management Group toolbox talk, Almaden Pub. Amber Marshall
The network is essential
FNQ farmers rely on mobile and internet coverage across properties and between townships for all sorts of activities, from coordinating the everyday school run to responding to an emergency such as a bushfire. Although two-way radios still play an important role in emergency response, people can only respond if they are in range.
In many instances, FNQ farmers can only access reliable phone or internet from their house or the nearest township. While the national <a href="https://www.communications.gov.au/what-we-do/phone/mobile-services-and-coverage/mobile-black-spot-program" target="_blank">Mobile Black Spot Program</a> is helping to bridge gaps in mobile phone service along major road routes, affordable solutions are needed to beam wifi signals substantial distances from the house.
What can we do to help?
There are several things government and industry could do to help improve digital inclusion in FNQ agricultural communities:
<ul>
<li>Improve mainstream telecommunications and internet infrastructure, and embrace alternative hardware solutions in communities and on properties. For example, <a href="https://www.wi-sky.com.au/" target="_blank">Wi-Sky</a>, which began as a rural cooperative, has built its own towers to offer alternative internet plans to locals in several remote sites in Queensland and New South Wales.</li>
<li>Redefine affordability to take account of the “layering up” phenomenon when developing telecommunications policy at all levels. Current methods to determine affordability do not accurately reflect the true cost and value for money of digital connectivity in rural areas. Telecommunications companies could revise their plans to give their rural customers better value for money, for instance by offering tailored mobile plans for intermittently heavy data users who are out of range for long periods.</li>
<li>Boost farmers’ digital ability to help them do business in the digital economy. Targeted digital ability programs could foster specific skills that farmers want and need, such as using the livestock identification system. These programs could be delivered in partnership with industry organisations such as <a href="https://www.agforceqld.org.au/" target="_blank">AgForce</a> that already have people on the ground in rural and remote areas.</li>
<li>Finally, give farmers a voice. Our policy-focused report was accompanied by two other reports focusing on <a href="http://accan.org.au/grants/completed-grants/1432-connectivity-and-digital-inclusion-in-far-north-queensland-agricultural-communities" target="_blank">participants and particular case studies</a>. Farmers are telling us what they need to take part in the digital economy. It’s up to government and industry to listen, and to work with communities to devise solutions for improved access, affordability and digital ability.<img src="https://counter.theconversation.com/content/121743/count.gif?distributor=republish-lightbox-basic" alt="The Conversation" width="1" height="1">
</li>
</ul>
Amber Marshall, Research fellow, Queensland University of Technology.
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/logged-out-farmers-in-far-north-queensland-are-being-left-behind-by-the-digital-economy-121743" target="_blank">original article</a>.
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Farmers in Far North Queensland are being left behind by the digital economy

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A retail investment on four lots with a pharmacy anchor tenant in Mooloolaba, Queensland has hit the market.
The property at <a href="https://www.propertyobserver.com.au/https://raywhitecommercialnoosasunshinecoastnorth.com/properties/commercial-for-sale/qld/mooloolaba-4557/retail/2155172" target="_blank">Ground Floor/77 Mooloolaba Esplanade</a> comes with 401 square metre of total building space,
Situated within the tightly-held retail strip, the sites can be purchased individually or in-one-line.
The properties have been listed for sale via expressions of interest by Ray White Property Consultants Matt Marenko and Louisa Blennerhassett.
The Mooloolaba Beach Pharmacy was a local institution and had operated on Mooloolaba Esplanade since the 1950s.
"The four separate titles provide the opportunity to split the space in the future, but currently, the asset produces $373,360 per annum net income with a fixed four per cent annual increase," Marenko said. 
"The building has also recently received an upgrade to the external façade and paving."
The Mooloolaba Beach Pharmacy comes with a lease until 2027, with options up until 2034.
Mooloolaba Osteopathy and Massage Clinic occupy the balance with a lease up until December 2021, which commenced in 2011, with an option until 2026.
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Tenanted Mooloolaba retail investment hits the market

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GUEST OBSERVATION 
Inheritances can have an enormous impact on finances and lives.
Yet in Australia we know surprisingly little about who gets them and how big they are.
New <a href="https://grattan.edu.au/report/generation-gap/" target="_blank">Grattan Institute research</a> provides some answers.
Inheritances are big and growing
A sample of estates from Victoria’s probate office suggests the median estate in Victoria is worth around A$500,000. That’s likely to be close to what it is Australia-wide.
But many are much larger. About 20% are worth more than A$1 million, and 7% are more than A$2 million. Property is the largest component, accounting for about half of the average value.
The main beneficiaries of “final” estates (estates without a surviving spouse) are children, who receive about three-quarters of all inheritance money.
Other family members, such as nieces, nephews and grandchildren, receive about 20%. Friends get about 4%, and charities 2%.
Average inheritances are growing about two percentage points faster than inflation each year, which is a good deal faster than wages or gross domestic product.
There are reasons to believe they will soon grow even faster.
Net wealth has grown strongly among older households. Households headed by people aged over 75 now have an average of A$1 million in assets, up from A$400,000 for a household headed by a person of the same age in 1994.
And most retirees <a href="https://grattan.edu.au/report/money-in-retirement/" target="_blank">don’t draw down</a> on their savings.
Indeed, many are net savers through much of their retirement, meaning there’s only one place their accumulated property and superannuation wealth can go: into bequests.
Inheritances are going to the already old…
These days, inheritances generally don’t arrive when people are saving for a house or trying to raise a young family.
More than 80% of money passed down from parents goes to people aged 50 and over.
The most common age bracket in which people to receive an inheritance from parents is 55-59.
<a href="https://www.propertyobserver.com.au/images/2019/8/20/INHERTANCE%201.png" target="_blank">Click here</a> to enlarge: 
<img src="https://www.urban.com.au/images/2019/8/20/INHERTANCE%201.png" alt="">
It’s the result of good news – parents are living longer.
But as life expectancy grows still further, it will mean inheritances increasingly supplement the retirement savings of middle-aged Australians rather than help young people get into housing.
…and the already wealthy
The wealthiest 20% of Australians get 38% of inheritance money; the poorest 20% get only 8%.
It means the growing wealth of Baby Boomers is likely to end up concentrated in the hands of a select group relatively well-off Generation Xers and Millennials rather than being widely spread.
<a href="https://www.propertyobserver.com.au/images/2019/8/20/INHERITANCE%202.png" target="_blank">Click here</a> to enlarge: 
<img src="https://www.urban.com.au/images/2019/8/20/INHERITANCE%202.png" alt="">
It will reinforce the advantages already enjoyed by people with well-off parents, including better schooling, better connections, and a greater ability to take financial risks because of a parental safety net.
If (as is possible) inheritances end up becoming the dominant route to wealth in Australia surpassing lifetime earnings, there will be less incentive for ordinary Australians to attempt to get ahead through individual endeavour.
We will have entered what French economist Thomas Piketty calls a “<a href="https://www.pbs.org/newshour/nation/how-pikettys-inequality-theory-explains-mr-darcys-wealth" target="_blank">Jane Austen world</a>”.
We don’t tax inheritances…
Calm debate on policy setting around inheritances is <a href="https://insidestory.org.au/death-and-taxes/" target="_blank">hard to come by</a> in Australia.
Inheritances and gifts have been tax-free since the 1970s.
Australia is one of only <a href="https://stats.oecd.org/index.aspx?DataSetCode=REV" target="_blank">seven</a> OECD countries without any inheritance, estate, or gift taxes. Despite the economic arguments for inheritance taxes, there seems to be little appetite to bring them back.
…if anything, we subsidise them
Not taxing inheritances is one thing, but actively subsidising them is another.
Superannuation tax breaks were intended to encourage people to save for their retirement and to take pressure off the age pension system.
But given that many retired Australians <a href="https://grattan.edu.au/report/money-in-retirement/" target="_blank">do not draw down on their capital</a>, a large part of the super tax concessions simply boosts the size of bequests.
Super death benefits tax is intended to claw back the superannuation tax breaks when the money is passed on, in order to ensure that the government doesn’t subsidise inheritances.
But, at 15%, the rate is too low to capture the value of the accumulated tax breaks. And it can easily be avoided by retirees withdrawing funds tax-free and then contributing them back as a post-tax contribution, which is tax-free when passed on.
The special treatment of the family home in the age pension means test also acts to boost inheritances at taxpayers’ expense. Without it there would less to pass on.
It’s time to claw some of them back
There is little justification for taxpayers subsidising inheritances. Policy changes could help.
We recommend a higher tax on super bequests paid to non-dependents to better capture the value of the super tax breaks that are passed on rather than used for retirement. The cap on post-tax super contributions should also be lowered, to limit the re-contribution strategies.
The age pension assets test should include part of the value of the family home, perhaps the part above A$500,000. Seniors with higher-value properties should be allowed to borrow against their home using the Pension Loans Scheme.
This would give them the ability to stay in their home but would mean that some of the wealth that would otherwise be passed to heirs (most likely in their 50s) would instead be used to fund them, taking pressure off the pension.
Owain Emslie, Associate, Grattan Institute 
Danielle Wood, Program Director, Budget Policy and Institutional Reform, Grattan Institute.
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/rethink-inheritances-these-days-they-no-longer-help-the-young-they-go-to-the-already-middle-aged-122029" target="_blank">original article</a>.
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Rethink inheritances. These days they no longer help the young, they go to the already middle-aged

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An Alexandria office development application valued at $55 million has been lodged and is now under under assessment by Sydney City Council.
The DA has been submitted on behalf of Podia and SkyLife Group.
Bates Smart has been employed as the architects for the project, working alongside them are landscape architect's Turf Design Studio, planning consultant City Plan and civil engineer ADG.
Situated on two titles at, 3-27 Bourke Road and 41-43 Bowden Street, the proposal seeks consent for a building envelope up to a maximum height of 18 metres.
<img src="https://www.urban.com.au/images/2019/8/19/Alexandria%20DA%202.JPG" alt="">
The Stage 1 DA has the building accommodating a maximum of 20,225 square metres of floor space, with indicative commercial and retail uses, plus excavation for one basement carpark.
It will have parking for 172 vehicles
Comprising three levels of commercial office space above a mixed commercial/retail use ground floor, the development application was lodged on the first of August 2019.
The site is set on a 8,090 square metre land holding.
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Bourke & Bowden DA lodged for $55 million Alexandria office building

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Residents at 8-12 Sorrell Street, Parramatta have banded together to sell to a developer for $44.5 million.
Set across the river from the Parramatta CBD, several agents claimed that by amalgamating together the 42 unit owners were able to double their achievable sale price.
The sale was three years in the making after the building’s strata committee got an unsolicited offer from another developer.
The sale represents continued confidence in providing residential apartment supply within the seemingly oversupplied Parramatta market. 
But any new apartments won't appear at the site in the next five years.
The Parramatta sale consists of three apartment buildings on a 4,012 square metre site.
It was zoned B4 mixed use with the potential for a project with a gross floor area of up to 27,683 square metres, subject to council approval.
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42 Parramatta apartment owners sell in one line to developer

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The oldest continuously Greek-run cafe in Australia is for sale for only its second public sale in 100 years.
The 1902 Art Deco Niagara Cafe at Gundagai is the last of the country’s traditional Greek cafes.
The future of the only other historic Greek cafe, the 1916 Paragon Cafe in the Blue Mountains, is in limbo after closing in 2018.
Niagara Cafe has been listed by Tina Loukissas, whose family bought the cafe in 1983.
The cafe was established by a Kytherian Greek, Strati Notara, and then by the Castrission family who installed the art deco interior and exterior in 1938.
It transformed the eating house into a “pleasure palace”, according to Macquarie University historian Leonard Janiszewski, who has documented the evolution of Greek cafes in Australia together with Effy Alexakis, in their book Greek Cafes and Milk Bars of Australia.
It was always promoted as “Australia’s Wonder Cafe” with its semi-domed ceiling, once painted as a night scene with stars onto which lights would shine.
Domain reported it was later destroyed by fire but never replaced.
Ross Tout, at Elders Real Estate Gundagai, said it was difficult to put a price on it, although the National Bank building nearby, with a four-bedroom apartment above, sold three years ago for $600,000.
Photo courtesy of Visit NSW. 
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Australia's oldest continuously Greek-run cafe, Niagara Cafe at Gundagai, listed

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Sydney has ranked sixth on the Savills World Cities Prime Residential Rental Index for H1 2019.
Prime residential rental growth across leading world cities slightly picked up pace during the first half of 2019, rising 0.9% to take average year on year growth to 1.3%.
Continuing a four-year long pattern of low level, but steady increases, resulting in the first uptick in average yields since late 2014 as capital value growth stalled, according to the Savills World Cities Prime Residential Rental Index.
In the year to the end of June 2019, capital values across the Savills index slowed to 0.7% annually, pushing yields up to 3.2%.
"While there are variations at an individual city level, the trend across both prime rents and capital values in leading world cities is broadly stable," says Sophie Chick, head of Savills World Research.
"Very few cities are seeing annual rental growth above 2%, a trend we expect to persist, given prevailing global political and economic headwinds.
"In the sales market, these forces translate into weakened sentiment and delayed decision-making, which has caused price growth to stall.
"But at the same time, although this pushes some demand into the rental markets, squeezed corporate relocation budgets continue to put pressure on rents.
"This means that while rents are outperforming capital values, we expect both markets to stabilise rather than continue to move apart, thus limiting the scope for yields to push out further."
<img src="https://www.urban.com.au/images/2019/8/16/Savills%20Prime%20Residential%20Rental%20Index%20-%20H1%202019.JPG" alt="">
The latest data from the Savills World Cities Prime Residential Rental Index of 21 cities shows that only seven cities – Los Angeles, Barcelona, Berlin, Tokyo, Hong Kong, Beijing and Shanghai - saw annual rental growth above 3%.
"Leading world cities will continue to be magnets for an increasingly global young, affluent workforce and this will support demand for prime rental properties," says Chick. 
Los Angeles was the standout city in the first half of the year, with rental growth of 4%, taking yields to 5.2%, the highest in the index. Similarly, Berlin saw rental growth pick up pace in H1 2019, but strong capital price growth kept yields close to the index average at 3.1%.
Sydney has seen an influx of new stock, but affordability constraints in the sales market has kept rental demand high, allowing rents to tick up 1.4% year on year. Dubai, by contrast, which has also seen high levels of new stock, but a slowdown in global trade and financial markets continued to suppress rents in the first half of 2019, continuing the trend seen since 2014.
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Sydney ranks sixth on Savills' prime residential rental index

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A local owner-occupier has snapped up a freestanding warehouse in Clyde for $1,255,000.
It sold for a substantial amount over its reserve, $215,000.
The property at <a href="http://ecomms.raywhite.com/collect/click.aspx?u=jRYOrR8N39QzG/Nyy8oj1MsQ8lDBqOLeGnfqPgIdmzmVW8USMH2yRIkL23sKlvcw9AAv2bvY52GmBAZy16vj3BhYNz9cFD6gPPo3wtw9Tl6rxxyOSnKBeNH55VYGKsEZcw68SVLD5QlbW5rX1oZoHg==&amp;rh=ff00500ae78142c04938e3ab6e45ae1ee58c25f0" target="_blank" data-auth="NotApplicable">4 Marsh Street</a> comes with a 466sqm building area and 493sqm land area.
It had been occupied by an established tenant for the last 18 years.
The property was sold by Ray White Commercial NSW – Western Sydney Director Joseph Assaf and Associate Director Sam Bechara.
Mr Assaf said because of recent re-zoning in the immediate proximity to mixed-use residential, industrial properties in the area had become harder to come-by.
<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/2019/8/14/Digital%20Images%20In%20Design%20Mark%20Ups2%201.jpg" alt="">
“There’s a real shortage of properties like this one, and that showed during the campaign with more than 80 enquiries and 31 contracts issued.
“We had eight bidders battling it out on the day, with the opening bid starting at $850,000, before climbing all the way up to the sale price of $1,255,000.
“The buyer had been looking for a property of this type in the area for a while and plans to occupy in the future for mechanical business purposes.” 
The asset offered a warehouse and office area, roller door access, high clearance, three-phase power, three on-site car parks, and truck access.
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Local owner-occupier snaps up freestanding Clyde warehouse

The new <a href="https://www.apartments.com.au/new-apartments/yarraville-green-42-stephen-street-yarraville-vic-3013">Yarraville Green</a> development in Melbourne's inner west is showing that landscaping can be just as influential as architecture, with buyers responding strongly to the garden-first approach adopted from the outset by developer Excelon Projects and the project's design team.

Excelon appointed Six Degrees Architects and landscape architects SBLA to work collaboratively on the development, with a brief to create "a sustainable, design-led building with a focus on community."

That approach has resonated with buyers. According to Next Chapter Director Tom Hirini, who is leading the sales campaign, the landscaped communal garden has become one of the project's defining features, alongside its boutique scale and European-inspired cluster housing concept.

Local downsizers, right-sizers and established families already living in Yarraville and surrounding suburbs have accounted for the majority of purchasers.

[smartcode_project:default project_id=144913 project_image_fid=297740]

Yarraville Green will comprise 53 homes, including apartments and townhomes, arranged around the shared central garden to maximise connections to the landscaped open space. Parking has been moved underground, allowing the ground plane to be dedicated to greenery, pedestrian movement and communal spaces.

The landscape extends well beyond passive planting. Productive garden beds, a pergola, communal gathering spaces, garden sheds and a pet wash have all been integrated into the masterplan, creating spaces designed to encourage everyday interaction between residents.

[smartcode_project:default project_id=144913 project_image_fid=297741]

The interiors continue Excelon's focus on craftsmanship, incorporating bespoke elements by Melbourne artisans including leadlight detailing by Adadaz, hand-turned timber hardware by Auburn Woodturning and blown-glass lighting by Ruth Allen.

Sustainability has also been embedded throughout the project, with Yarraville Green targeting an average 7-star NatHERS energy rating through passive design principles, rooftop solar servicing common areas and rainwater harvesting for landscape irrigation.

[smartcode_project:default project_id=144913 project_image_fid=297735]

Construction continues to progress at Yarraville Green, with structural works well underway and framing works approaching completion under builder Balmain &amp; Co. The project remains on track for completion in mid-2027.

Apartments at Yarraville Green are currently priced from $625,000, while townhomes start from $1.4 million.

[smartcode_project_cta:default project_id=144913]

Joel Robinson

Garden-led design drives buyer demand at Yarraville Green

National diversified developer Fortis has officially launched Crest &amp; Walker, its latest Brisbane apartment development, with construction now underway on the 20-storey Newstead project.

Award-winning builder BINAH has commenced construction on the Bureau^Proberts-designed building, which will deliver a limited collection of 65 two and three-bedroom apartments on Kyabra Street.

[smartcode_project:default project_id=145922 project_image_fid=373556]

The project marks Fortis' fourth active residential development in Brisbane, following River House, which is nearing completion, alongside projects in New Farm and Hamilton as the national developer continues to expand its South East Queensland pipeline.

Fortis General Manager – Development Queensland Dan Boman said Crest &amp; Walker reflects the developer's long-term commitment to delivering design-led residential projects in Brisbane's established inner-city suburbs.

"We're proud to be strengthening our presence in Brisbane with Crest &amp; Walker, particularly in such a sought-after lifestyle destination as Newstead," Boman said.

"Every Fortis project is shaped by its context, and we approach each one with the respect and care it deserves.

"Our focus is always on creating places that feel connected to their neighbourhood and elevate the everyday experience for residents. Newstead continues to evolve as one of Brisbane's most sought-after urban communities, and Crest &amp; Walker reflects our ambition to contribute meaningfully to that story."

[smartcode_project:default project_id=145922 project_image_fid=373559]

Positioned between Gasworks Plaza and James Street, <a href="https://www.apartments.com.au/new-apartments/crest-walker-newstead-12-kyabra-street-newstead-qld-4006">Crest &amp; Walker</a> has been designed as a boutique residential address offering privacy and generous living spaces within one of Brisbane's most established lifestyle precincts.

The building features a contemporary brick podium softened by integrated landscaping, while the upper levels are characterised by restrained architecture and enduring materiality. Interiors have been designed to maximise natural light, acoustic performance and long-term liveability.

[smartcode_project:default project_id=145922 project_image_fid=373583]

Residences comprise spacious two and three-bedroom floorplans, with two-bedroom apartments priced from $1.55 million and three-bedroom, half-floor residences from $3.95 million.

Residents will have access to a wellness-focused rooftop featuring a swimming pool, sauna, steam room, landscaped dining spaces and outdoor lounge areas overlooking Newstead and the Brisbane CBD.

[smartcode_project:default project_id=145922 project_image_fid=373571]

Sales are being managed by Slaite Projects, with Fortis expecting strong demand from owner-occupiers seeking a high-quality, design-focused apartment in one of Brisbane's most tightly held inner-city suburbs.

Completion of Crest &amp; Walker is slated for late 2028.

[smartcode_project_cta:default project_id=145922]

Fortis expands Brisbane pipeline with launch of Crest & Walker in Newstead

The enormity of delivering a true skyscraper in Australia's new development market is often overlooked.

It has taken the best part of a decade since plans for Chevron One were first unveiled, but the 41-storey tower is now complete, with residents collecting their keys and moving into what has become one of the Gold Coast's most recognisable new landmarks.

Rising 127 metres above Chevron Island, Chevron One stands almost twice as high as any other building on the island. Its scale places it alongside the trio of towers at Jewel, arguably the last truly significant addition to the central Gold Coast skyline when they were completed around six years ago.

While there are several developments underway around a similar height to Chevron One, they are more concentrated within clusters of the highest towers in the city. The fact Chevron One sits within a developing precinct, looking back at the other high-rise developments in Surfers Paradise and Broadbeach, makes it a different proposition altogether. It will certainly become a reference point on the Gold Coast skyline.

[smartcode_project:default project_id=6515 project_image_fid=68833]

Developer Bensons Property Group is behind the 41-storey tower, which has 229 apartments, along with an exhaustive list of resident amenity spread across what is the largest development site ever assembled on Chevron Island.

The tower has been the talk of the town for years, says Ray White Projects Gold Coast agent Caitlin Rosenboom, who is selling the remaining apartments.

"People have been watching Chevron One go up for years," Rosenboom says, adding that many prospective buyers have been surprised by the scale of the views once they step inside.

"It's only when they walk through a completed apartment that they truly understand the position of the building," Rosenboom says.

"The views are jaw-dropping. Whether you're looking east over the ocean, across Surfers Paradise, along the river systems or out to the hinterland, every level offers something different but equally impressive."

[smartcode_project:default project_id=6515 project_image_fid=360215]

One of Chevron One's defining advantages is its location on the eastern side of Chevron Island on Stanhill Drive, a position which protects the views forever.

"There's only one row of houses between Chevron One and the water, and the height restrictions along the river means views from Chevron One can never be built out,"&nbsp;Rosenboom says.

While new apartment developments continue to emerge across the Gold Coast, Rosenboom says opportunities to secure a completed apartment with this level of outlook are becoming increasingly rare.

"The size of the site is something that would be incredibly difficult to replicate today," she says.

"That's allowed Chevron One to deliver the sort of amenity, open space and resident facilities that very few projects can offer. There are not many completed apartment buildings on the Gold Coast right now that can compete with the combination of scale, quality and amenity."

[smartcode_project:default project_id=6515 project_image_fid=68839]

There's around 2,000 sqm of amenity solely for the use of residents of Chevron One. Club One features a uniquely shaped swimming pool that mirrors the footprint of the building itself, set within a extensively landscaped gardens. There's also an indoor pool and spa, a fully equipped gym with a Pilates room, a yoga garden, a bookable private dining area and lounge that can host up to 30 people, and a 24-hour concierge service.

As for the buyers, Rosenboom is fielding enquiry from everywhere: Sydneysiders and Melburnians looking at the new and off-the-plan market following the changes in the Federal Budget, as well as those looking to relocate, through to South East Queenslanders seeking either a permanent home or a weekender bolthole.

"The Gold Coast lifestyle continues to resonate with people relocating from the southern states, and when they see the views and the quality of what's been delivered at Chevron One, it becomes very easy for them to understand the appeal," Rosenboom says.

A diverse mix of one, two and three-bedroom apartments remain available, with each offering "something a little different", be it the orientation and views, configuration, or level, to suit a wide variety of buyers.

The remaining apartments are ready to inspect in person, by appointment.

[smartcode_project_cta:default project_id=6515]

A decade in the making: Residents to move into Chevron One as construction wraps up

A general rule of thumb in new apartment developments is that the penthouses get the rooftop.

It's a formula that's become commonplace across Australia's apartment market. Residents might have access to a pool, gym or barbecue facilities on a dedicated lower level, but the most desirable outdoor spaces are typically reserved for the highest-priced homes at the top of the building.

<a href="https://www.apartments.com.au/developers/sherpa-property-group">Sherpa Property Group</a> has taken the opposite approach.

Rather than dedicating the rooftop to a handful of buyers, the Gold Coast developer has made it the centrepiece of its Flourish collection, creating expansive shared spaces from the best vantage point in the building.

The philosophy has reached its most ambitious expression at <a href="https://www.apartments.com.au/new-apartments/flourish-soleira-palm-beach-1150-1160-gold-coast-highway-palm-beach-qld-4221">Flourish Soleira</a> in Palm Beach, where two rooftop precincts connected by a skybridge will deliver one of the most extensive lifestyle offerings seen in a residential apartment project on the Gold Coast.

[smartcode_project:default project_id=150017 project_image_fid=374053]

"We're seeing a clear move toward developments that offer more than just an apartment," Sherpa Group founder Christie Leet said.

"People want spaces that support how they actually live, whether that's working from home, staying active, or spending time with family and friends.

"That's where amenity becomes critical. It's not just about what's included, but how those spaces are designed to be used every day."

[smartcode_project:default project_id=150017 project_image_fid=374052]

The breadth of amenity has already attracted buyers across multiple demographics. Younger first home buyers have been drawn to Soleira's one-bedroom apartments, a product rarely delivered in Palm Beach, while families have responded to practical inclusions such as the shallow children's pool adjoining the main lap pool and the extensive communal recreation areas.

Instead of a single rooftop, Soleira delivers two distinct lifestyle zones.

[smartcode_project:default project_id=150017 project_image_fid=372547]

The southern rooftop has been dedicated to wellness, featuring a gym, yoga and Pilates studio, work-from-home facilities, a wellness centre, spa, and hot and cold plunge pools.

The northern rooftop focuses on recreation and entertaining, incorporating a heated resort-style pool, private dining rooms, pizza ovens, barbecues, a golf simulator, children's recreation areas, and what is expected to be the Gold Coast's first rooftop basketball court, which will also double as a squash court.

[smartcode_project:default project_id=150017 project_image_fid=374054]

Beyond the rooftops, Soleira will introduce 1,500 sqm of curated retail beneath the towers, creating one of Palm Beach's first genuinely mixed-use lifestyle precincts where cafés, restaurants and convenience retail become part of residents' everyday lives.

Sherpa has also retained management rights across the development, allowing it to oversee the long-term operation of the building through a 24-hour concierge model. The developer is also exploring additional revenue streams within the precinct aimed at helping offset ongoing body corporate costs for residents.

[smartcode_project:default project_id=150017 project_image_fid=370962]

While Soleira is the largest project Sherpa has delivered, the rooftop-first philosophy has been evolving for several years.

It began with <a href="https://www.apartments.com.au/new-apartments/amargo-6-12-sixth-avenue-palm-beach-qld-4221">Flourish Amargo</a>, the first project released under the Flourish brand. Rather than competing at the ultra-luxury end of the market with oversized half-floor and full-floor residences, Sherpa focused on creating lifestyle-driven apartments supported by resort-style shared spaces.

Amargo introduced more than 800 sqm of rooftop amenity, combining wellness facilities, heated pools, entertaining areas, cabanas, pizza ovens and private dining spaces into what was designed as an extension of residents' homes rather than a facility used only occasionally.

[smartcode_project:default project_id=146527 project_image_fid=366550]

That approach continued with Flourish Oasis, where the same amenity-led philosophy was refined into a more boutique development. Strong demand from Sherpa's growing VIP database saw much of the project sold before it reached the broader market, reinforcing buyer appetite for apartment communities centred around shared lifestyle experiences.

Flourish Amargo is slated for completion mid-way-through next year, with Oasis to be delivered by late 2027. Flourish Soleira is expected to complete in 2030.

[smartcode_project_cta:default project_id=150017]

Sherpa takes amenity to the sky as Flourish Soleira captures booming Palm Beach demand

As apartment living continues to evolve across Sydney's growth corridors, the quality and distribution of shared spaces is increasingly shaping how residents experience home. Rather than functioning as add-ons, amenities are being embedded into the daily rhythm of a building, supporting everything from quiet retreat to social interaction, often within a single vertical community.

At <a href="https://www.apartments.com.au/new-apartments/aeris-melrose-park-nursery-street-melrose-park-nsw-2114">Aeris</a> in Melrose Park, this approach is resolved through a layered amenity offering that unfolds from ground level through to its upper podium. Developed by <a href="https://www.apartments.com.au/developers/sekisui-house-australia">Sekisui House Australia</a> in partnership with Hankyu Hanshin Properties, the project introduces 468 apartments across two towers and a mid-rise building, positioned at the highest point of the broader masterplan.

[smartcode_project:default project_id=426 project_image_fid=359199]

The amenity experience begins at street level, where two courtyards sit within a landscaped setting that connects residents to the wider network of parks and green spaces. These green spaces are not isolated pockets but part of a wider pedestrian network that links Aeris to the surrounding <a href="https://www.apartments.com.au/developments/melrose-park-nsw-2114">Melrose Park</a> precinct, including Central Park, future schools, and the Town Centre opening in July 2026. The result is a transition that moves from public to private without abrupt boundaries, allowing residents to pass through shaded, tree-lined environments before reaching the building itself.

Moving upward, the focus shifts to the level five podium, where the primary communal facilities are concentrated. This space brings together a 16-metre swimming pool, outdoor seating areas, and a communal BBQ zone arranged to take advantage of elevated outlooks. Seating is positioned beneath pergolas, creating pockets of shade that extend the usability of the space throughout the day. The pool edge aligns with views toward the wider district, reinforcing the sense of elevation that defines the project’s positioning.

In the adjacent building, this is complemented by quieter, more contemplative spaces, including an outdoor cinema set within the same level. Positioned to operate primarily in the evening, it introduces a different tempo to the shared environment, shifting from daytime activity to after-hours use without requiring separate zones.

[smartcode_project:default project_id=426 project_image_fid=360299]

The podium also accommodates an intimate private resident gym. Located on the lower levels, it gives residents convenient access to fitness facilities without leaving the building.

Above, the elevated podium sky deck extends the amenity offering, providing additional open-air spaces with elevated outlooks across the surrounding landscape. While more restrained in program, this upper level reinforces the project’s vertical progression, from ground-level greenery to elevated outlook, allowing residents to move between distinct spatial conditions within a single address.

This distribution of amenities reflects a deliberate response to how residents use space across the day. Sekisui House Australia Sales and Marketing Director Peter Kalaf points to the role these shared areas play in shaping buyer demand. Aeris has been conceived as more than a collection of apartments, with the podium pool, gym and outdoor cinema forming part of a broader lifestyle offering that extends the home beyond each individual residence.

[smartcode_project:default project_id=426 project_image_fid=360300]

What distinguishes Aeris is not the inclusion of these elements individually, but how they are arranged in relation to one another. Active, social, and passive spaces are layered vertically rather than separated, allowing residents to choose between them without leaving the building or moving far from their apartment. This proximity supports both routine use, such as a morning swim or evening workout, and more occasional gatherings, whether around the BBQ area or within the cinema setting.

The amenity design also sits within a broader framework of connectivity across Melrose Park. The Melrose Park Town Centre, anchored by Coles and Dan Murphys, features a mix of retail, dining, health and lifestyle offerings, bringing everyday convenience closer to residents. By the end of the year, more than five hectares of parks and open space, equivalent to around seven football fields of green space on residents' doorstep, will further enhance the precinct, allowing the internal facilities at Aeris to operate as an extension of the wider neighbourhood rather than a substitute for it.

Construction at Aeris continues to gather momentum, with ground floor slabs expected to be completed in late 2026 before the first sections of the buildings begin to rise above ground.

[smartcode_project_cta:default project_id=426]

Staff reporter

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