<a href="https://www.apartments.com.au/developers/mayd-group">MAYD Group</a> has set a new residential price record in Queensland with the $30 million sale of the penthouse at its <a href="https://www.apartments.com.au/new-apartments/one-burleigh-88-the-esplanade-burleigh-heads-qld-4220">ONE Burleigh</a> development in Burleigh Heads.

The sale equates to around $37,500 per sqm.

The two-level, 800 sqm penthouse, featuring five bedrooms, five bathrooms, five car spaces, and a private infinity pool overlooking the Pacific Ocean, was acquired by a Gold Coast-based entrepreneur, highlighting continued demand for ultra-premium beachfront product.

Selling agent Freddie Tehle of PRD Burleigh Heads said the result reflects tightening supply of high-quality, large-format apartments in Burleigh.

“There’s very limited opportunity to secure this level of scale and absolute beachfront position in <a href="https://www.apartments.com.au/developments/burleigh-heads-qld-4220">Burleigh Heads</a>,” Tehle said.

“Buyers are increasingly seeking apartments that genuinely replace a standalone home, and this penthouse delivers that with its size, privacy, and direct ocean frontage.”

[smartcode_project:default project_id=146358 project_image_fid=323057]

The sale comes as construction progresses on ONE Burleigh, a boutique development of 17 full-floor residences at 88 The Esplanade, scheduled for completion in early 2027.

Developed by MAYD Group and designed by <a href="https://www.apartments.com.au/architects/mas-architecture-studio">MAS Architecture</a> with interiors by <a href="https://www.apartments.com.au/interior-designers/sici-design">Sici Design</a>, the project has been positioned as a collection of house-sized beachfront apartments, each occupying an entire floor with around 381 sqm of internal and external living space.

When construction commenced, MAYD director Todd Mould pointed to the long-term resilience of premium coastal real estate as a key driver behind the project.

“Real estate, particularly at the premium end, remains one of the most resilient and proven long-term investment avenues,” Mould said.

“Our ambition is that anyone who buys a MAYD-built product can genuinely feel the care, craftsmanship and commitment we bring to every detail.”

[smartcode_project:default project_id=146358 project_image_fid=323055]

Each residence has been configured with four bedrooms, multiple living zones, a private office, and expansive ocean-facing terraces. Interiors draw on a restrained material palette, including travertine stone, timber joinery, and integrated premium appliances.

Interior designer Sici Design said the approach was to reflect the project’s coastal setting through both materiality and spatial planning.

“ONE Burleigh is our vision of luxury living, designed to bring the essence of Burleigh Heads' vibrant coastal beauty into an unparalleled residential experience.”

Residents will have access to a suite of wellness-focused amenities, including pools, sauna facilities, and dedicated relaxation spaces, reflecting a broader shift toward lifestyle-driven apartment design on the Gold Coast.

[smartcode_project:default project_id=146358 project_image_fid=323052]

The project occupies a southern Esplanade site with uninterrupted beachfront frontage, an increasingly rare offering in Burleigh Heads, free from the Norfolk Pines that line much of the coastline and often limit direct ocean outlook.

Mould said the design intent was to balance that outlook with a sense of retreat.

“Living at ONE Burleigh is about how your day naturally unfolds, morning light across the ocean, coffee on the balcony, and being in Burleigh but elevated above the noise.”

The result further reinforces Burleigh Heads’ emergence as one of the Gold Coast’s most tightly held and supply-constrained beachfront markets, where boutique, owner-occupier-focused developments are increasingly setting new price benchmarks.

[smartcode_project_cta:default project_id=146358]

Joel Robinson

MAYD Group sets Queensland record with $30 million penthouse sale at ONE Burleigh in Burleigh Heads

Apartment developers in the Gold Coast are finding new, creative ways to differentiate themselves from competing projects, as new supply starts to flow through up and down the Coast.

Developer Big Projects brought in the renowned Sydney-based design studio YSG to craft the interiors for The Frederick, Big Projects' new Mermaid Beach project and YSG's first move into the multi-residential development space.

[smartcode_project:default project_id=110588 project_image_fid=5346]

It was a strategic move for Big Projects to bring in a Sydney eye to the development.

“Our role is to give our design partners the space and freedom to explore,” says Matt Barrett, Director of Big Projects.

“We wanted YSG Studio to capture the essence of Nobby’s, to design a building that embraces life, light and connection, while creating a genuine sense of place.”

There are only 39 apartments in The Frederick, including a striking beach house, just 100 metres from the booming Nobby Beach precinct.&nbsp;

[smartcode_project:default project_id=110588 project_image_fid=5347]

Yasmine Ghoniem, Director of YSG Studio, says their vision&nbsp;for The Frederick "reinvents coastal living."

“Nobby’s has such an iconic energy, it’s one of those rare pockets of the Gold Coast where the community, the beach, and the streets all feel connected,” Ghoniem says.

"Responding to the neighbouring coastline, soothing curves add a relaxing regional overlay, while unique detailing really sets it apart. It’s a place that feels lived in from the moment you step inside.”

A standout feature of The Frederick is its rooftop terrace, an uncommon inclusion for a boutique, low-rise building, where amenity is typically concentrated at ground level.

[smartcode_project:default project_id=110588 project_image_fid=5360]

Positioned to capture panoramic views from the hinterland to the ocean, the rooftop has been designed as a series of intimate zones. It includes a pool, sauna, sun decks, workspaces and dedicated entertaining areas.

“The rooftop was conceived as a collection of spaces where residents can unwind and connect, an extension of the Nobby’s lifestyle,” Barrett says.

Architecture for the project was led by Plus Architecture, with landscape design by LDG.

SRQ Projects Director Nick Clydsdale, who is handling sales at The Frederick, says the majority of enquiry is coming from South East QLD and Victorian buyers who have been actively searching between Broadbeach and Mermaid Beach for some time.

"They’ve reviewed a number of projects, however this one has stood out for its design flair/ appeal,"&nbsp;Clydsdale says.

Site demolition is slated for this month, with construction commencing soon after. Big Projects is targeting a late 2027 completion.

[smartcode_project_cta:default project_id=110588]

Big Projects taps Sydney’s YSG for first multi-residential project at The Frederick Mermaid Beach

Melbourne-based property developer ALTA Property has this week achieved planning approval for the adaptive re-use of a former commercial tower into a $200 million, 169-apartment project at 10 Queens Road, one of the last developable sites along the Albert Park Lake-fronting boulevard.&nbsp;

Set within one of Melbourne’s most sought-after precincts and designed by <a href="https://www.apartments.com.au/architects/fraser-partners-0">Fraser and Partners</a>, the illustrious building will offer unparalleled views across Albert Park Lake, Port Phillip Bay and Melbourne CBD.&nbsp;

The mix of 1, 2 and 3-bedroom residences will be complemented by a ground-floor amenity featuring private dining, a lounge bar, gym and wellness spaces, co-working, outdoor communal gardens, and retail.&nbsp;

The 17-storey building is a masterclass in adaptive re-use, with the existing commercial building’s façade, shell and internal structure to be retained, before high-end residences are built from the ground up in a newly built Albert Park facing addition to the building.&nbsp;

Sitting atop the building will be two 320+sqm penthouses with private rooftop terraces, which are expected to be priced between $9 - $11 million.&nbsp;

<img alt="ALTA Property achieves permit approval for $200 million Queens Road tower" data-entity-type="file" data-entity-uuid="aa11211b-5581-43f9-940c-fc84d30a0e61" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/C_04.png?VersionId=Yhf5p_1EgGDu_zOIMFgvA8Ug8j3sTFQs" />

Architecturally, the building will feature a curved, geometric façade that celebrates and elevates the existing structure, with warm, muted tones which were selected to extend the materiality of the existing building rather than contrast it.&nbsp;

Interiors will bring together three metre high ceilings with waffle concrete in some spaces, natural timber, granite and Australian materials, culminating in crafted, generous and considered spaces that are defined by authenticity.&nbsp;

The adaptive re-use means that the Queens Road project will be a sustainability led, high-quality finished product, with a 62% saving in carbon emissions by re-using the existing structure rather than knocking it down and rebuilding.&nbsp;

ALTA Property was launched by Nigel Givoni in 2023, bringing over 25 years of experience in multi level residential delivery.&nbsp;

Melbourne’s property market growth is currently led by apartments. According to RPM VIC Apartments &amp; Townhomes Market Report (April 2026), units are outpacing houses, especially in the middle ring suburbs where median prices hit $757,500 – a four-year high that represents 2.9 percent growth quarter-on-quarter.&nbsp;

<img alt="ALTA Property achieves permit approval for $200 million Queens Road tower" data-entity-type="file" data-entity-uuid="647e13d7-b4bc-433a-9bc9-fe3c3dd4f2ec" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/V_06.png?VersionId=ou4NUCWUgA3NAy.6CQJlEdKX50j3dOk6" />

For ALTA Property Founder Nigel Givoni, this performance speaks to the confidence he has in the Melbourne market.&nbsp;

“Queens Road represents a rare opportunity to continue to shape our presence in the Melbourne market.,"&nbsp;Givoni says.

"With a considered project team and a premier site along one of the city’s most sought-after boulevards, we look forward to contributing to the fabric of this established address.

“Other Australian markets are getting a lot of attention, but I believe the depth of value in Melbourne is being overlooked. The fundamentals are strong, population growth is steady and, based on our preliminary conversations with a leading builder, construction costs are beginning to normalise, creating further opportunity."

Givoni says the project is a&nbsp;highly considered example of adaptive re-use, delivering quality, high-end residences, premium hotel-inspired amenities and an architecturally striking façade, all achieved without the need to remove the existing structure.

"We are really looking forward to the market’s response,” he said.&nbsp;

ALTA Property to deliver $200 million Queens Road apartment tower

Construction is set to begin at <a href="https://www.apartments.com.au/new-townhouses/orchard-mews-glen-iris-18-scott-grove-glen-iris-vic-3146">Orchard Mews</a> in Glen Iris, with&nbsp;PC Whitehall &amp; Sons&nbsp;now appointed as the townhome development moves into its next phase.

The development by&nbsp;<a href="https://www.apartments.com.au/developers/montcoeur">MontCoeur</a>,&nbsp;located at 18 Scott Grove, is now around 30 per cent sold, with completion targeted for late-2027.

Orchard Mews comprises a curated collection of three- and four-bedroom customisable townhomes, positioned within one of <a href="https://www.apartments.com.au/developments/glen-iris-vic-3146">Glen Iris</a>’ more tightly held residential streets. The low-density project has been designed by <a href="https://www.apartments.com.au/architects/cera-stribley-architects">Cera Stribley</a>, with landscape architecture by <a href="https://www.apartments.com.au/landscape-architect/jack-merlo">Jack Merlo</a>, bringing together a team known for high-end residential projects across Melbourne.

[smartcode_project:default project_id=150128 project_image_fid=366285]

The development is defined by its focus on flexible living and long-term usability. Each residence includes multiple living zones and a customisable multipurpose room, allowing buyers to tailor spaces to suit changing needs, whether as a home office, additional bedroom, wellness area or entertainment space.

Architecturally, the townhomes emphasise natural light and spatial volume, with dual-aspect layouts and double-height living areas incorporated into the design. Interiors feature natural stone benchtops, premium appliances, and a neutral material palette intended to support everyday functionality rather than statement-driven finishes.

All residences are all-electric and include private lifts and secure double garages, reflecting a broader shift toward sustainability and future-focused housing in Melbourne’s established suburbs.

[smartcode_project:default project_id=150128 project_image_fid=366277]

Outdoor connections are also central to the offering, with a mix of private courtyards and terraces extending internal living spaces and integrating with the landscaped surrounds.

The Scott Grove address places Orchard Mews within close proximity to some of Melbourne’s key lifestyle and education amenities, including Scotch College, Sacré Cœur, Cabrini Hospital and the retail hub of Chadstone. Public transport access is also nearby, with trams and Gardiner Station providing connectivity to the CBD and surrounding suburbs.

[smartcode_project_cta:default project_id=150128]

Construction to commence at luxury Glen Iris townhome project, Orchard Mews

A rare new apartment development has been proposed on the fringe of St Ives Village.

Developer Newquest Property has lodged plans for a low-rise apartment project designed by well-regarded architecture firm Warren &amp; Mahoney, which is best known for its work in the multi-residential sector in Melbourne.

The building, proposed for a 1,916 sqm site on <a href="https://www.apartments.com.au/new-apartments/st-ives-residences-3-5-memorial-avenue-nsw-2075">Memorial Avenue</a> opposite St Ives Village Green, has been designed to blend into the surrounding natural environment.

<img alt="St Ives" data-entity-type="file" data-entity-uuid="5c1c7437-2fba-4345-a6d7-05321714ad3e" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-05-04%20at%201.28.46%E2%80%AFPM.png?VersionId=KrYyMaJvNqR7vbx0xbB3Ef8sJ6FuHpmn" />

“Drawing inspiration from the pale trunks and flowering canopies of the scribbly gums and blue gums prevalent in the area, a considered material palette was developed,” the architectural design report states.

“This palette references the established materiality of the suburb while elevating it through refined finishes to achieve a more luxurious architectural expression.”

Of the 33 apartments proposed, 21 will be three-bedroom residences. The remaining mix includes nine two-bedroom apartments, one one-bedroom apartment and two four-bedroom residences. The development will be supported by 62 car parking spaces and 33 secure bicycle spaces.

The proposal would replace two single-storey brick buildings currently on the site.

<img alt="St Ives" data-entity-type="file" data-entity-uuid="21422eaf-09a9-4439-9278-b9bd9daf22a1" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-05-04%20at%201.38.10%E2%80%AFPM.png?VersionId=v.fXSgcUcEscvOZzqcjG5nk3gVqk_Amt" />

St Ives remains a relatively untapped market for new apartment development. North Shore developer WINIM has a number of projects in the area, while INCA is nearing completion of Ellis Residences.

More recently, Traders In Purple has lodged plans for one of the denser projects proposed in the suburb, a 75-apartment development on a 5,900 sqm site on Cowan Road.

NewQuest, a construction, design and development firm, has delivered over 24 projects across commercial, residential, industrial, and lad markets.&nbsp;

&nbsp;

&nbsp;

First look: NewQuest Property proposes new St Ives apartment development

Prominent New Zealand apartment and hotel operator, <a href="/developers/safari-group">Safari Group</a>, is offering up a prime investment opportunity for Australians to purchase off the plan in one of the world’s most popular ski destinations.

They recently took to market Mountain Oak Queenstown Apartments, in the growing precinct of Remarkables Park in Frankton, near the airport and at the foot of The Remarkables - the mountain range the locals like to call “The Remarks”.&nbsp;

Sydney investors have shown interest in the one, two and three-bedroom apartments that secure high-season occupancy six months over the year, primarily over summer and winter months.

They average 90 per cent occupancy across their portfolio over January, February, March, August, November and December, while shoulder season months of April, July, September and October are still occupied 70 per cent of the time, with the growing appeal of Queenstown becoming not just a hotspot for the snow, but a lifestyle destination.

Even in the low seasons of May and June, occupancy levels reach around 40 per cent.

<img alt="Safari Group’s Mountain Oak Apartments brings new investment potential to Queenstown" data-entity-type="" data-entity-uuid="" src="https://res.cloudinary.com/dz9xllyip/image/fetch/f_auto,c_limit,w_1440,q_auto/https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/field/image/Ext_Cam15_Sunny.jpg?VersionId=SJAROUM_1s.Tr5ciMk4EEj5oAt_Vewmv" />

Safari’s Safari Hotels arm can also manage the holiday letting for an investor, from the listing on holiday accommodation websites such as Airbnb and Booking.com to the cleaning and maintenance of the investment. They’ve been in the short stay management business for 15 years and offer 24/7 support for investors, an important convenience benefit for any overseas investor

Another major drawcard for Australians is that New Zealand doesn’t have a stamp duty policy - so the entry price of NZ$639,000 (AU$586,000), is all that is payable on completion.

<img alt="Safari Group’s Mountain Oak Apartments brings new investment potential to Queenstown" data-entity-type="" data-entity-uuid="" src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,dpr_2.0,q_auto:good/https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/313_Livingv2_WEB.jpg?VersionId=nV229fM0ZeYpoxOrX372HyGjfwY_LR8c" />

Safari is starting construction of the 141 apartments in Q2 this year, with a two-year build estimated to complete in mid-to-late 2027.<img alt="" data-entity-type="" data-entity-uuid="" height="15" src="https://lh7-rt.googleusercontent.com/docsz/AD_4nXczFpFAb7WuA6f4f9TtKWcqXyNwR8qqtakWv352ERkpqNlP3KwIo8YKxw67jZNHfpjEGIZGv5MQTbnvLZwNt8iu9IVdOrswOjCvBZ4zhSoOOLrpt6etVEZTN1gkBho0r_R72zdHNA?key=yq3daOanqHSb88QFd8jGYKdb" title="Click and drag to move" width="15" />​

The apartments will feature modern amenities and contemporary designs with expansive windows capturing sweeping views of The Remarkables mountain range.&nbsp;

Interiors are equipped with modern finishes, premium appliances, and secure electronic key-locked doors, ensuring a comfortable living experience for residents and guests alike.

With its strategic location near Coronet Peak and Cardrona Alpine Resort, as well as key retail and dining precincts such as Market Street, Five Mile Shopping Centre, and Remarkables Market, Mountain Oak offers a strong proposition for investors seeking high rental yields and capital appreciation in one of New Zealand’s most sought-after locations.&nbsp;

Queenstown’s sustained demand for visitor accommodation and rental properties is underpinned by a shortage of housing options, attracting both local and international buyers.

Safari Group offers low-touch investment proposition in Queenstown’s popular ski fields district

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<img src="/images/stories/4285.jpg">
The price a <a target="_blank" title="Mosman supermarket sold" href="https://www.propertyobserver.com.au/commercial/mosman-bridgepoint-shopping-centre-sells-to-chinese-investor/2011081651175">Chinese buyer paid for the Bridgepoint Shopping Centre in Mosman</a> on the Sydney North Shore. The price reflects a yield of 8.2% on fully leased gross income of about $4.9 million per year. The centre is anchored by Franklins supermarket, Harris Farm Markets, Mosman Professional Centre and 34 specialty stores. The shopping centre was sold by Lieve Li of Buckingham Real Estate on behalf of developer Frasers.
 
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<img src="/images/stories/2835.jpg">  
 
The size of a block in Alexandria, Sydney containing an existing industrial brick warehouse with small office component bought by private investment company BridgeLane Group for $7 million. Sale of the block at 123-129 Wyndham Street was negotiated by CB Richard Ellis’ Stuart Cox and Daniel O’Brien. It has been earmarked as a potential residential development site. The property is leased to Jade Auto Repair Pty Ltd until December 30, 2013.
 
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<img src="/images/stories/160m.jpg">  
The amount<a target="_blank" title="Westfield buys half stake in Milan shopping centre" href="https://www.propertyobserver.com.au/commercial/westfield-to-spend-%24160-million-to-develop-italian-shopping-centre/2011081251143"> Westfield has spent to acquire a 50% interest in a development site in Milan</a>, Italy. The 60-hectare site adjacent to Milan's Linate airport has planning approval to develop a regional shopping centre similar in scale to Westfield London. The site is being acquired in a joint venture with Gruppo Stilo, an Italy-based developer owned principally by its founder, Antonio Percassi.
 
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<img src="/images/stories/5502.jpg">  
The size of a vacant industrial site in Regency Park, Adelaide acquired by a local private developer for $1.55 million at auction.  The site is located at 1-3 Myuna Street. CB Richard Ellis’ Craig Klemich and David Ludlow steered the auction campaign on behalf of Hoepners Admin Services.
 
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<img src="/images/stories/960k.jpg"> 
The price achieved for a commercial property at 292 Station Street, in Lalor, Melbourne, sold at public auction. The selling process was handled by Fitzroys agent Julian Heatherich. The sale achieved a yield of just under 5%. A private buyer bought the refurbished, single-level, brick retail building of about 125 square metres on 260 square metres of land. It is currently occupied by private healthcare operator Healthscope.
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lschlesinger-FZcF9M3vE6

Commercial hammer prices

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<img src="/images/stories/117.jpg"> 
The gross rent per square metre that Graphique Solutions Pty Ltd will pay to lease 350 square metres at 1/4 Wirega Avenue, Kingsrove in the Southern suburbs of Sydney from Shehata. The lease term is three years plus a three-year option, with the contract negotiated by Emilios Michael from Niemeyer Commercial Industrial Property.
 
<hr>
<img src="/images/stories/269k.jpg">The annual rent that a private investor will earn following the lease of five shops on the site of a demolished KFC restaurant at 305 High Street in Ashburton in Melbourne. The leasing agent was Ben Evans of Gray Johnson. The largest outlet, measuring 140 square metres, was leased for $480 per square metre on a five-year basis, plus a further five-year option, to Every Battery.
 
<hr>
<img src="/images/stories/116sqm.jpg">The size of a warehouse that Vacant Lot Retail Pty Ltd has leased at 4/1A Box Road in Taren Point, 20 kilometres south of the Sydney CBD from Cornelius van Graan. Vacant Lot will pay a gross rent of $166 per square metre. The leasing agreement, which runs for 11 months, was negotiated by Trent Gallagher from Colliers International.
 
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<img src="/images/stories/550.gif">
The gross rent per square metre that content delivery start-up Tapit Media Pty Ltd will pay to lease a 77-square-metre office at suite B, level 1, 17-19 Alberta Street in Surrey Hills from a private investor. The lease term is 18 months, with the agreement negotiated by Kylie Doust from DB Property.
 
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<img src="/images/stories/611k.jpg" style="border-style: initial; border-color: initial;">
The annual rent that Swiss luxury watchmaker Rolex will pay to rent a shop at 100 Knightsbridge in London, one of three retail outlets that form part of One Hyde Park, one of the world’s most expensive residential developments. Rolex has renewed its lease for a further 14.5 years, with the deal negotiated by Savills London.<a target="_blank" title="Russian investor buys Rolex store" href="https://www.propertyobserver.com.au/retail/russian-buys-%C2%A313-million-rolex-store/2011090251404"> The store was recently bought by Grigory Guselnikov</a>, a 35-year-old Russian investor, for £13 million ($20 million).
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Commercial leasing: Watch this space

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<img src="/images/stories/800.jpg">
The price, roughly, that commercial law firm Piper Alderman will pay per square metre per year to lease 1,119 square metres of space over level 36 in Brisbane’s Riverside Centre in a deal negotiated by Jones Lang LaSalle’s Gerry Leyden and  Bob Rice. The building located at 239 George Street is owned by the GPT Wholesale Office Fund. The lease term is 10 years.
 
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<img src="/images/stories/320sqm.jpg">
The amount of office space that German national carrier Lufthansa will lease at 189 Kent Street in the Sydney CBD in a deal negotiated by Ray White Commercial. The airline was formerly at 143 Macquarie Street, Sydney. The airline has signed a five-year lease with real estate listings show offices up for lease in the recently refurbished 15-storey building at gross annual rentals of between $380 and $450 per square metre.
 
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<img src="/images/stories/593.jpg"> 
The size of an office leased to online travel site Booking.com on level 11 of the Australia Square Plaza Building at 95 Pitt Street in the Sydney CBD. The building is jointly owned by property groups Dexus and GPT. Booking.com will pay $870 per square metre per year. The lease term is four years, with the deal negotiated by Thomas Fredriksen from Knight Frank.
 
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<img src="/images/stories/110k.jpg"> 
The annual rent that women’s shoe retailer Bare Traps is paying to lease a new 390-square-metre store at 221 Stafford Road, Stafford on Brisbane’s north side. The deal was negotiated by Steve Black of Ray White Commercial Pine Rivers. Bare Traps has secured a five-year lease with five options to renew on the Stafford store, which is located on a 6,000-square-metre site owned by De Pasquale Bros Pty Ltd.
 
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<img src="/images/stories/962.jpg"> 
The gross annual rent per square metre that Morena Restaurant will pay to lease a 156-square-metre shop at 425 Bourke Street in Surry Hills, Sydney, from Zone Developments. The lease term is five years plus a five-year option with the deal negotiated by Michael Vranic from City Commercial Property.
 
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<img src="/images/stories/58point5.jpg"> 
The gross annual rent per square metre that Morena Restaurant will pay to lease a 156-square-metre shop at 425 Bourke Street in Surry Hills, Sydney, from Zone Developments. The lease term is five years plus a five-year option with the deal negotiated by Michael Vranic from City Commercial Property.
Know of a commercial leasing deal? <a target="_blank" title="Email us" href="mailto:news@propertyobserver.com.au">Let us know</a> to have your deal included in next week's listing.
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<img src="/images/stories/2100.jpg">
The size of a two-level building that greeting card company JSA has committed to lease for 10 years in Investec Bank’s Mulgrave Business Park. CBRE associate director of office services Richard Height acted for Investec Bank while Frank Vinci, director of Vinci Carbone Property, acted as JSA’s exclusive broker.  The park is located 382 Wellington Road, Mulgrave in Melbourne’s southeast. Vinci Carbone Property sold JSA’s Clayton complex for $10,000,000 in late 2010.
 
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<img src="/images/stories/716.gif">
The amount space that infrastructure solutions group CommScope will rent on the second floor of the newly-completed IC Enterprise 1 building in the University of Wollongong’s Innovation Campus. CommScope has signed a six-year lease and will join tenants including BHP Billiton, Illawarra Coal and international business process outsourcing firm Mphasis. IC Enterprise 1 is a $40 million A-grade commercial building featuring large floor plates of up to 2,600 square metres.
 
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<img src="/images/stories/440.gif"> 
The gross rent per square metre per annum that Prospecta Software (Australia) Pty Ltd will pay to lease a 64-square-metre office space at 275 Alfred Street from Fivex Commercial Property. The lease term is 18 months, with the deal negotiated by Laura Hilder from Aspace Estate Agents.
 
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<img src="/images/stories/18000.gif"> 
The upper range of space <a target="_blank" href="https://www.propertyobserver.com.au/office/westpac-takes-paris-end-of-collins-leaves-docklands-to-other-banks/2011092251651">Westpac will lease in its new Melbourne headquarters at the Paris end of Collins Street</a>.  The bank is set to occupy between 14,000 and 18,000 square metres of office space in a new 20,000-square-metre, 10-level A-grade office tower to be constructed by Grocon and APN Property Group. About 1,000 square metres of the building will be set aside for retail use.
 
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<img src="/images/stories/294.gif"> 
The net rent per square metre per year that special effects company Makeup &amp; SFX will pay to lease a 639-square-metre site at 237-241 Broadway in the inner west of Sydney from Mary Capetan for five years. The deal was negotiated by Boe Saysouthinh from Deans Property.
Know of a commercial leasing deal? <a href="mailto:news@propertyobserver.com.au" title="Email us" target="_blank">Let us know</a> to be included in next week's listing.
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<img src="/images/stories/160.jpg">
The net rent per square metre per year that My Baby Warehouse will pay to lease 1,500 square metres of warehouse space at 431-433 Great Western Highway in Wentworthville, NSW. The lease term is two years, with the deal negotiated by Tim Knapp and Nick Saba from Knight Frank.
 
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<img src="/images/stories/216.jpg"> 
The size of an office that personal injury legal firm Rennick Briggs Lawyers has agreed to lease for five years in the heart of the Melbourne CBD legal precinct, in a deal negotiated by Savills Australia. The office on level 15 at 190 Queen Street will provide the tenant with additional space to cater for recent business expansion, according to Savills associate director of office leasing Gordon Wyllie. The rental was not disclosed, however it is believed to be in the mid-to-high $300s per square metre gross.
 
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<img src="/images/stories/320.jpg">
The gross annual rent per square metre that security integration specialist Loop Technology Pty Ltd will pay to lease a 157-square-metre office at suite 3/20-22 Cliff Street, Milsons Point in Sydney from Metrotex International Pty Ltd. The lease term is three years, plus a three-year renewal option. The agreement was negotiated by Jay Sheffield from Raine &amp; Horne Commercial North Sydney.
 
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<img src="/images/stories/417sqm.jpg"> 
The size of a site that Illawarra Children's Services has leased at 69 Warrangarree Drive, Woronora Heights in South Sydney from Dinmul Pty Ltd. The not-for-profit organisation will pay net rent of $373 per square metre per year. The lease term is five years with a five-year option and was negotiated by Daniel O'Brien from CB Richard Ellis.
 
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<img src="/images/stories/316dollars.jpg"> 
The gross rent per square metre per annum that Prince Technologies will pay to lease a 110-square-metre office at level 1, 21 Chandos, St Leonards from B &amp; M Stacker. The two-year lease was arranged by Kellie Tattersall from Taylor Nicholas North Shore.
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<img src="/images/stories/4000sqm.jpg">
The amount of industrial and office space that Australian-based property group Valad has leased in Gyroscoopweg, a 32,000-square-metre mixed-use, multi-let estate in Amsterdam in the Netherlands. The 4,000 square metres comprises five new leases with a combined total annual rental value of €331,000 ($440,000). Two new tenants, Dobson and Uzcudun B.V. and J.H. Oei Beheer B.V., have signed five-year leases on 815 square metres and 616 square metres respectively. The other three leases were renewals and expansions for existing tenants, including WMF Nederland B.V., which extended its lease on 1,353 square metres of predominantly office space for a further six years, while Welzorg Nederland B.V. took an extra 615 square metres of office and industrial space, making their total leased area more than 2,700 square metres. Alliance Mode B.V. also extended for another five years on 524 square metres of office and industrial space. Gyroscoopweg is close to Schiphol Airport.
 
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<img src="/images/stories/104410.jpg"> 
The net annual rent that Michael Roger Quality Meats Pty Ltd will pay to lease a 100.5-square-metre shop in the Burwood Plaza, a single supermarket-based centre located in the Burwood Town Centre, approximately 12 kilometres west of the Sydney CBD. The centre is owned by Centuria Property Funds, which also negotiated the deal. Burwood Plaza has total gross lettable area of around 12,400 square metres and is categorised as a sub-regional shopping centre.
 
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<img src="/images/stories/8number.jpg">
The number of commercial deals totalling 110,000 square metres in the last six months in the industrial suburb of Braeside in the City of Kingston, about 26 kilometres southeast of the Melbourne CBD. According to Savills Notting Hill office investments director, Ben Hegerty, Braeside is experiencing an industrial property renaissance with its lowest vacancy rate in at least five years as tenants are tempted by radically improved planned and completed road infrastructure and vie for limited space.
 
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<img src="/images/stories/385.jpg">
Roughly the amount Key Options Technology, an Apple authorised training centre, will pay in gross annual rent per square metre, following its decision to relocate to a 264-square-metre tenancy at 8 Cuthbert Street at Sydney's King Street Wharf in the CBD. The lease term is three years, with the deal negotiated by Ray White Commercial's Anthony Harris. He says 8 Cuthbert Street is just moments from King Street Wharf's bars and restaurants, comprising ground floor offices, internal stairs, mezzanine floor with own balcony, parking and rare signage usually associated with retail opportunities.
 
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<img src="/images/stories/1246.jpg"> 
The amount of space that health club operator Fitbodz will lease at the Burwood Plaza in the Burwood Town Centre approximately 12 kilometres west of the Sydney CBD. Fitbodz will pay net annual rent of $84,516 plus GST. The centre is owned by Centuria Property Funds, which also negotiated the lease agreement.
 
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<img src="/images/stories/475.jpg"> 
The gross annual rent per square metre that family history website ancestry.com.au will pay to lease 145 square metres of space at Level 3, 387 George Street in the Sydney CBD in a transaction completed by Ray White Commercial office leasing director John Skufris, who negotiated the deal on behalf of private investment group Lionmar Holdings. Ancestry.com.au has secured a five-year lease. “Located opposite Mid City, the building has long been home to destination camera and electronics retailer Georges Cameras as well as for Weight Watchers,” Skufris says.
Know of a commercial leasing deal?<a href="mailto:news@propertyobserver.com.au" target="_self"> Let us know</a> to be included in next week's listing.
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<img src="/images/stories/117m.jpg">
The amount Chinese conglomerate <a href="https://www.propertyobserver.com.au/office/chinese-investors-snap-up-sydney-office-tower-for-%24117-million/2011091351519" title="Chinese investor snaps up Sydney office building" target="_blank">HNA Group paid to acquire 1 York Street from Colonial First State</a>. The 22-storey building formed part of the CFS’s unlisted direct property investment fund and has a net lettable area of 18,400 square metres. The sale price reflected an initial yield of 8.5%, with the deal negotiated by Vince Kernahan, Jon Chomley and Andrew Reed of Colliers International with Aurelio di Napoli from DTZ Sydney advising HNA together with Linda Zhu of DTZ’s Sydney-based China desk.
 
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<img src="/images/stories/3point78.jpg">  
The gross rental return achieved on a commercial property leased to the Commonwealth Bank that sold to an investor for $4 million. Bidding from four parties pushed the price to more than $6,700 per square metre. The property on Upper Heidelberg Road, Ivanhoe in Melbourne was sold by Fred Nucarra from Belle Real Estate. The bank’s lease on the property has two years to run with no option to renew.

 
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<img src="/images/stories/3point95m.jpg">  
The price achieved for a heritage Sydney office building with a ground-floor bar <a href="https://www.propertyobserver.com.au/office/keith-johnson-receivers-sell-skinny-sought-after-sydney-office-building/2011090851478" target="_blank">sold under receivers’ instructions at auction</a>. The 338 Kent Street building has a net lettable area of 493 square metres. The building is part of the 1888 Merchant and Partners warehouse building, which has stucco detailing designed in the Victorian Free Classical style. It was listed by receivers and managers Taylor Woodings through CB Richard Ellis agents Tim Grosmann and Rohan Ramsay.
 
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<img src="/images/stories/50mill.jpg"> 
The amount the Roman Catholic Archdiocese has paid for the former Bank of Queensland Centre at 229 Elizabeth Street from family construction business FA Pidgeon and Sons, reports the Australian Financial Review.

 
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<img src="/images/stories/5point27.jpg"> 
The yield achieved following the sale of a 529-square-metre retail and office property at 85-89 Cronulla Street in Sydney’s Sutherland Shire for $5.25 million. The sale was negotiated by Daniel O'Brien, an associate director at CBRE, who said investor demand for the area was improving.
 
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<img src="/images/stories/85m.jpg">
The estimated price global property manager RREEF is negotiating to buy a tower on Sydney’s Sussex Street from Eureka Funds Management. The property is located at 140 Sussex Street, with CBRE’s Rob Sewell Josh Cullen and Rick Butler handling the sales process. The 14-storey building has 12,400 square metres of net lettable area. Eureka bought the tower in 2005 for just under $60 million.
Know of a commercial sale? <a href="mailto:news@propertyobserver.com.au" title="Contact us" target="_blank">Let us know</a> to be included in next week's listing.
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<img src="/images/stories/1point88.png">
The price an owner-occupier has paid for a freestanding industrial property just off Nunawading’s Golden Mile retail strip on Whitehorse Road in Melbourne’s eastern suburbs. The 19 Ceylon Street property was sold with vacant possession at auction at what is thought to be a record for the area of $2,272 per square metre. The sale was negotiated by Savills’ Adrian Smith. The property comprises a modern 828-square-metre building with a 280-square-metre office component over two levels, a high clearance warehouse with two roller shutter doors and 10 car spaces on a 996-square-metre site.
 
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<img src="/images/stories/9percent.jpg">
The yield on an office/warehouse acquired by Lend Lease’s managed Australian Prime Property Fund for $31.5 million. The commercial building is on a site covering 22,000 square metres at 1464 Fern Tree Gully Road in Knoxville in southeast Melbourne. The property was sold by listed entity CVC Property. The deal was negotiated by Tony Iuliano from Colliers. The sale price is $2.5 million higher than its carrying value of $29 million. The building is leased to Stramit Corp, part of the Fletcher Building Group, on a 12-year lease.
 
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<img src="/images/stories/78m.jpg"> 
The price that property group Dexus is expected to pay to acquire the Joseph Banks Corporate Park in inner Sydney. The office park, which comprises five buildings totalling 35,000 square metres, will be added to the $3.2 billion Dexus Wholesale Property Trust. The park was built at a cost of $45 million Michael Fenton and John Macree from Jones Lang LaSalle acted on behalf of owners the Grosvenor Group, which is looking to exit the Australian market, the Australian Financial Review reported.
 
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<img src="/images/stories/9percent.jpg"> 
The net yield that would be achieved on a fully leased retail property in the Nowra CBD on the NSW South Coast acquired by a private investor. The property at 96 Kinghorne Street was listed for sale at about $900,000 and was acquired as a vacant possession. It has 254 square metres of retail space with the deal negotiated by Ray White Commercial Shoalhaven agent Scott Baxter on behalf of Jason Porter from Pitcher Partners.
 
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<img src="/images/stories/11point5.jpg"> 
The amount Victorian-based syndicate The Property Advisory paid to acquire an office-warehouse at 105 Woodlands Drive in Braeside in South East Melbourne. The facility is leased to generator rental company Agrekko up until 2010. The 2.5-hectare site was marketed by Tony Iuliano from Colliers. The sale represents a yield of 9.4%.
Know of a commercial sale?<a target="_blank" href="mailto:news@propertyobserver.com.au"> Let us know</a> to be included in next week's listing.
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<img src="/images/stories/66682.gif" style="border-style: initial; border-color: initial;">
The annual net rent (excluding GST and statutory outgoings) that Silver Chair Café will pay to lease a 53-square-metre shop at 80 Waterloo Road, North Ryde, a commercial office building on the Sydney North Shore owned by Centuria Property Funds. The café is attached to the office building located near the Macquarie Shopping Centre. The shop was vacated by the sitting tenant, who sold his business, and Centuria simultaneously did a new lease with the purchaser at the time of the sale.  There was no agent involved. The café also has external area of approximately 42 square metres.


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<img src="/images/stories/8point2per.gif">
The percentage of gross lettable space that Woolworths will lease in <a target="_blank" href="https://www.propertyobserver.com.au/retail/woolies-and-k-mart-to-anchor-centro-s-new-property-group/2011102752101">Centro Retail Australia</a>, the new property trust set to rise from the ashes of embattled Centro Property Group. If approved by shareholders, the new entity will own and manage a portfolio comprising 99 shopping centres, with Woolworths and K-Mart the biggest tenants. Woolworths will have 29 tenancies while K-Mart’s 14 stores will take 7.8% of the gross lettable space. Coles, with 24 leases, will take up 7.2% of the gross lettable area available.
 
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<img src="/images/stories/5000sqm.gif">
The amount of space Colliers International has leased at 221 London Circuit in Canberra’s CBD. Tenants have come from private and government sectors, including Anglicare Australia, Organ and Tissue Authority, ACT government and Capgemini, to name a few. Michael Ceacis, associate director of government services at Colliers International, believes 221 London Circuit would still be largely vacant if the owners had not taken the initiative and refurbished the building. Located in the heart of the Canberra CBD, 221 London has 8,500 square metres of net lettable are across 11 levels. The Molonglo Group acquired the building in 2008 and has refurbished it to achieve a 4.5 star NABERS rating.
 
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<img src="/images/stories/33k.gif">The amount educational coaching specialist Edu-Kingdom College will pay annually in net rent as part of a new three-year office and warehouse lease at Springvale in Melbourne’s southeast. Edu-Kingdom‘s term includes two further terms of three years at the Unit 27, 134 Springvale Road. Savills Australia’s Joseph Catanese brokered the deal for the 545-square-metre building (NLA) with access to Springvale Railway Station, cafes and other amenities. The lessor was Speranzo Pty Ltd.
 
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<img src="/images/stories/80per.gif">
The occupancy ratio Dexus is targeting in its <a href="https://www.propertyobserver.com.au/office/government-aims-to-move-into-dexus-ultra-green-1-bligh-street/2011103052118">flagship 1 Bligh Street office tower by June 2012</a> after it was confirmed that the federal government intends to relocate the Commonwealth offices into the newly completed green-star office building.  Dexus shareholders have been advised the newly completed state-of-the-art building could be 67% leased by Christmas 2011. The property is currently about half-tenanted, and recently Bank of America Merrill Lynch analyst Simon Garing said it would take developer Dexus four years to fully lease the space. 

 
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<img src="/images/stories/10years.jpg"> 
The number of years that bakery/patisserie/café franchise The Jolly Miller will lease new retail space at the Healesville Walk Shopping Centre, about one hour northeast of  Melbourne, in a deal negotiated by Savills Australia. The franchise will open its sixth store in the centre after pre-committing to over 200 square metres of retail space situated next door to a branch of the National Australia Bank. Savills associate director retail services Michael Di Carlo says the store is expected to open in November this year following the completion of a refurbishment of the shopping centre by owner Australand. Di Carlo says while the rental is confidential, rents in the Coles Supermarket anchored centre ar in the vicinity of $500 per square metre.
Know of a commercial leasing deal? <a href="mailto:news@propertyobserver.com.au" target="_self">Let us know</a> to be included in next week's listing
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<img src="/images/stories/25m.jpg">
The sale price achieved for a portfolio of five industrial warehouses across Victoria, New South Wales, Western Australia and Queensland sold by Jones Lang LaSalle via a sale and leaseback strategy on behalf of steel supplier Interlloy. The five warehouses on offer had varying lease terms between 12 and 15 years, with the facilities based in Henderson (WA), Dandenong (VIC), Minto and Albury (NSW) and Crestmead (QLD). David Butera and Andrew O’Connell of Jones Lang LaSalle Industrial co-ordinated the sale program.
 
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<img src="/images/stories/2point95.jpg"> 
The mount Sunshine Coast-based company LRBA paid for a retail complex at Emerald in central Queensland. The complex, which was sold with long-term tenants in place, was marketed by Ray White Commercial Maroochydore principal David C. Smith. The four tenancies in the complex are paying annual rent totalling almost $240,000, and they are all in long-term leases. The retail complex comprised of a net lettable area of approximately 860 square metre.
 
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<img src="/images/stories/1point89.jpg"> 
The listing price of the <a href="https://www.propertyobserver.com.au/rural/chinese-investors-buy-another-hunter-valley-winery/2011083051347" title="Capercallie Winery" target="_blank">16-hectare Capercallie vineyard in the NSW Hunter Valley</a>, which was sold to buyers from China. The property, with five hectares under vine, had been listed for sale by Alan Jurd and Cain Beckett from Jurd’s Real Estate. It last sold for $400,000 in 1995. The final price was not disclosed.
 
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<img src="/images/stories/20m.jpg"> 
The price <a href="https://www.propertyobserver.com.au/retail/russian-buys-%C2%A313-million-rolex-store/2011090251404" title="Rolex" target="_blank">Russian investor Grigory Guselnikov paid to buy the Rolex Retail Unit at One Hyde Park</a> in London one of the world’s most expensive residential projects, developed by the billionaire property developers the Candy Brothers. Jonathan O’Regan from Savills advised developer Project Grande (Guernsey) Limited on the sale. The Rolex store, at 100 Knightsbridge, is located across the road from Mandarin Oriental Hotel.


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<img src="/images/stories/7m.jpg">The amount Venus Construction has paid for a residential development site in Redfern in inner Sydney. The site is located at 153 George Street and covers more than 25,000 square metres. The sale was negotiated by CBRE’s Daniel O’Brien on behalf of Psychiatric Rehabilitation Australia in an off-market campaign.


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<img src="/images/stories/3point05.jpg">The sale price achieved for an over-50s resort featuring 99 relocatable homes in Goodna, about 25 kilometres south of Brisbane. The property was bought by Harvest Property at auction at a yield of 11.5%. It comprises more than 10 hectares and includes a nine-hole golf course, library and pool. The sale was negotiated by Trevor Weinert from Colliers on behalf of receivers. 
Completed a commercial sale? <a target="_blank" title="Email us" href="mailto:news@propertyobserver.com.au">Let us know </a>to be included in next week's listing.
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