Article summary

<ul data-end="785" data-start="311">
	<li data-end="459" data-section-id="5hbcyr" data-start="311">Pikos Group has released the five-penthouse collection at Skye Kangaroo Point, headlined by a two-storey sky home spanning more than 1,000 sqm.</li>
	<li data-end="561" data-section-id="1p7lq8n" data-start="460">Early buyer interest suggests the residences could set a new Queensland apartment price record.</li>
	<li data-end="667" data-section-id="1y70z0l" data-start="562">The collection includes four move-in ready penthouses and the highly customised Skye One residence.</li>
	<li data-end="785" data-section-id="yvm0y1" data-start="668">The release caps one of Bri​sbane's most ambitious luxury apartment developments overlooking the Brisbane River.</li>
</ul>

<hr data-end="790" data-start="787" />
Pikos Group has released the five-penthouse collection at its <a href="https://www.apartments.com.au/buildings/skye-residences-by-pikos-kangaroo-point-8-river-terrace-kangaroo-point-qld-4169">Skye by Pikos</a> development in Kangaroo Point, with early buyer interest indicating the flagship residences could eclipse every apartment sale previously recorded in Queensland.

The collection crowns the luxury riverfront development with five residences, including four completed penthouses and Skye One, a two-level sky home spanning more than 1,000 sqm that will be tailored to its eventual owner.

[smartcode_project:default project_id=90059 project_image_fid=374075]

Wanting to offer a fully customisable home, Pikos is offering Skye One as a blank canvas, allowing the buyer to work alongside the developer's design team to customise the home's layout, finishes and internal spaces.

The residence will feature a 247 sqm private rooftop terrace with its own swimming pool, sauna, steam room, outdoor kitchen and multiple entertaining areas overlooking the Brisbane River and CBD skyline.

The remaining four penthouses have been completed and are ready for immediate occupation, each offering four bedrooms, expansive open-plan living areas, soaring ceilings and private lift access.

[smartcode_project:default project_id=90059 project_image_fid=374059]

One of the defining features throughout the project is its use of Roman Classic Travertine, with more than 20,000 sqm of the natural stone imported from Italy after being personally selected by Pikos Group Founder and Executive Director Pedro Pikos, interior designer Julie Williamson and third-generation stone specialist Mario Caucci.

Pikos said the penthouse collection represented the culmination of the company's long-term vision for Skye.

"True legacy isn't measured by what we build today, but by what endures tomorrow," Pikos said.

"Our ambition is to create places that become more valuable with time, enrich the lives of generations, and stand as timeless landmarks long after we've stepped away."

[smartcode_project:default project_id=90059 project_image_fid=374060]

Williamson said the interiors were inspired by the natural character of Kangaroo Point and the Brisbane River rather than international design trends.

"Materiality tells the story of a place," Williamson said.

"We looked to the movement of the Brisbane River, the texture of the cliff face and the warmth of the surrounding landscape to create interiors that feel understated, enduring and unmistakably Brisbane."

Positioned above the Kangaroo Point cliffs, Skye places residents within walking distance of Howard Smith Wharves, South Bank and James Street while offering uninterrupted river and city views.

[smartcode_project_cta:default project_id=90059]

Joel Robinson

Brisbane's next apartment price record? Pikos unveils Skye's exclusive penthouse collection

Article summary

<ul data-end="888" data-start="289">
	<li data-end="442" data-section-id="8tsh6o" data-start="289">DVB Projects is preparing to launch its second Gold Coast apartment development, with demolition now underway at 137 Old Burleigh Road, Broadbeach.</li>
	<li data-end="573" data-section-id="1nyxl3e" data-start="443">The 34-level tower will comprise just 49 ultra-luxury residences, including half-floor, full-floor and penthouse apartments.</li>
	<li data-end="717" data-section-id="oiyimj" data-start="574">The launch follows strong demand at DVB's nearby Sea Glass project, which is more than 50 per cent sold and currently under construction.</li>
	<li data-end="888" data-section-id="epk9o9" data-start="718">The development adds to the transformation of Old Burleigh Road, with premium beachfront apartment projects continuing to reshape the tightly held Broadbeach strip.</li>
</ul>

<a href="https://www.apartments.com.au/developers/dvb-projects">DVB Projects</a> is preparing to launch its second Gold Coast apartment development, with demolition now underway on the Broadbeach site as the Sydney developer moves closer to bringing the ultra-luxury project to market.

The 34-level tower at <a href="https://www.apartments.com.au/new-apartments/137-old-burleigh-road-broadbeach-qld-4218">137 Old Burleigh Road</a> will comprise just 49 residences, ranging from half-floor apartments through to full-floor homes and a penthouse. The launch follows the strong sales performance of DVB's nearby Sea Glass development. More than half of the apartments at Sea Glass, on the other side of Broadbeach, have been snapped up, well ahead of its late 2027 completion

<img alt="DVB Projects to commence demolition on $320m Broadbeach luxury tower" data-entity-type="file" data-entity-uuid="2944b4be-c84e-4b54-8dc1-c712e76704c0" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/E02_Exterior_Street%20Level%20Entrance.jpg?VersionId=YoNig7pRdrE3HCue7sUj78LzJteeQf3H" />

The start of demolition at 137 Old Burleigh Road signals DVB Projects’ underlying confidence in the Gold Coast’s luxury beachside apartment sector.

“We see the Gold Coast as one of the most compelling lifestyle markets in Australia, particularly at the premium end where demand continues to deepen,” said Dean Brown, Managing Director of DVB.&nbsp;

“This project has been carefully designed to respond to that demand - delivering large-format residences with a level of quality, privacy and amenity that is still relatively rare in the apartment market on the beachside."

Brown says the site itself is "exceptional."

"Old Burleigh Road is one of the most tightly held beachfront strips, and opportunities to deliver a project of this scale and calibre in this location are extremely limited.”

<img alt="DVB Projects to commence demolition on $320m Broadbeach luxury tower" data-entity-type="file" data-entity-uuid="398f377a-c037-455e-9250-0c5e0d84c35b" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/I12_FF%20Balcony.jpg?VersionId=NwOiRWGMubR1c8wthuEfggklcja7al9." />

The project will comprise 40 half-floor residences of approximately 260 sqm, alongside eight full-floor residences spanning around 524 sqm.

A single penthouse will crown the building, featuring a private pool, barbecue area, indoor gym and dedicated entertaining spaces.

Residents will have access to a resort-style suite of amenities, including a 20-metre pool with daybeds, a gymnasium, hot and cold plunge pools, a sauna, and private residents’ lounge and dining facilities.

<img alt="DVB Projects to commence demolition on $320m Broadbeach luxury tower" data-entity-type="file" data-entity-uuid="d1642bb0-9a66-4427-a022-dfc0988c6287" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/A02_Pool%20to%20View.jpg?VersionId=c0IXPyn_Gp_Kn3XCwzMrqIVkAdCEwVXP" />

Sales agent Todd Matheson, of <a href="https://www.apartments.com.au/project-marketer/pezet-matheson">Pezet Matheson</a>, which is marketing both 137 Old Burleigh Road and Sea Glass, said 137 Old Burleigh Road would address a clear gap in the market for genuine luxury products.

“There are very few opportunities on the Gold Coast where buyers can secure a residence of this size and quality in a new building,” Matheson said.

“What we’re seeing is a growing cohort of downsizers and interstate buyers who still want space - they’re not willing to compromise on living area, entertaining or finishes.

“This project has been designed with that buyer in mind. It offers the scale of a home, combined with the convenience and security of apartment living, in one of the coast’s most desirable positions.”

<img alt="DVB Projects to commence demolition on $320m Broadbeach luxury tower" data-entity-type="file" data-entity-uuid="59aae0ca-5639-4320-8aca-d0bf60f48e43" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/E01_Exterior%20Hero.jpg?VersionId=DS8Zfy2WtgUEtdfe0TEUuf1W1GfcZq8S" />

Located on a 1,156 sqm site one block from the beachfront, the development will replace an ageing walk-up building and is expected to contribute to the ongoing transformation of the Old Burleigh Road strip into one of the Gold Coast’s most prestigious residential corridors.

With the development moving into the delivery phase, 137 Old Burleigh Road is slated to hit the market later this year.

[smartcode_project_cta:default project_id=145141]

DVB Projects to launch second Broadbeach apartment tower as demolition commences

A proposal to redevelop one of North Sydney's ageing commercial buildings has taken another step forward, with plans for a 38-storey mixed-use tower adding momentum to the long-awaited transformation of the Alfred Street precinct.

Now on public exhibition through the NSW Government's Housing Delivery Authority-led State Significant Development pathway, the proposal for 271-273 Alfred Street would replace an underutilised commercial building with 95 apartments, ground-floor retail, commercial space and affordable housing. The proposal was submitted by&nbsp;Tara Shore Pty Ltd, acting for the John Taylor Family Trust.

While the project will deliver much-needed housing on the southern edge of the North Sydney CBD, it also represents another piece of a broader precinct that has spent years in planning limbo.

<img alt="First look: New public domain vision underpins 95-apartment North Sydney tower on Alfred Street" data-entity-type="file" data-entity-uuid="7e1ce1b4-38df-48ab-992f-386814d86308" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Alfred%20St%20da%20podium.png?VersionId=sC_h6w.A9VEoB98qsqowPlIoz__sBZBt" />

Despite its proximity to both North Sydney Station and the Victoria Cross Metro, redevelopment of Alfred Street has progressed slowly over the past decade as broader planning controls, zoning and building heights remained unresolved. The introduction of the Housing Delivery Authority pathway has provided a new avenue for projects to progress, allowing rezoning and development assessment to occur concurrently and unlocking sites that have long been earmarked for renewal.

Designed by Office of Cortese &amp; Gilder, the proposal seeks to do more than replace an ageing office building. The architects have positioned the project as the first stage of a wider public domain vision that would improve pedestrian connectivity and create a more cohesive mixed-use precinct as neighbouring sites are redeveloped over time.

The proposal includes a widened Alfred Street setback, new street trees, landscaping and outdoor seating, along with a landscaped through-site pedestrian link connecting Alfred Street with Little Alfred Street. The connection is intended to become the first section of a future east-west pedestrian network extending across the precinct.

<img alt="First look: New public domain vision underpins 95-apartment North Sydney tower on Alfred Street" data-entity-type="file" data-entity-uuid="8ea39ac3-46ad-4562-b4a0-b862e91c2dda" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Alfred%20St%20da%20site.png?VersionId=K7umCd21KpetEFuVfsPlnJKhUOsmTTdV" />

The mixed-use tower would comprise retail space at ground level, commercial uses on level two and apartments from level three upwards.

In total, the development would deliver 95 apartments, including nine one-bedroom, 28 two-bedroom, 56 three-bedroom and two four-bedroom residences. Twenty-one apartments, representing 15 per cent of the residential gross floor area, would be secured as affordable housing and managed by a registered community housing provider for at least 15 years.

Nine basement levels would provide 133 resident car spaces, seven motorcycle spaces and 111 bicycle spaces.

According to the Architecture and Urban Design Report, the public domain strategy is designed to transform what is currently an inward-facing commercial edge into a more active and connected pedestrian environment, creating a stronger relationship between the commercial core and surrounding residential neighbourhoods.

Office of Cortese &amp; Gilder has also prepared a broader public domain framework spanning neighbouring properties between 263 and 283 Alfred Street, arguing that a coordinated approach to redevelopment will deliver better public spaces, improved tower separation and a more connected streetscape as the precinct evolves.

The proposal comes at a time where North Sydney is slated for future residential growth. Commercial developer FiveX has residential plans for the neighbouring site at 275 Alfred Street. They've proposed a 39-storey mixed-use tower with 184 apartments, while Freecity was recently approved for nearly 300 apartments across a 51-storey building on Walker Street.

Read more:&nbsp;<a href="https://www.apartments.com.au/news/nsw/first-look-freecity-gets-green-light-for-mixed-use-apartment-and-hotel-tower-in-north-sydney">First look: Freecity gets green light for mixed-use apartment and hotel tower in North Sydney</a>

Read more:&nbsp;<a href="https://www.apartments.com.au/news/nsw/first-look-fivex-plans-39-storey-residential-tower-in-booming-north-sydney">First look: Fivex plans 39-storey residential tower in booming North Sydney</a>

&nbsp;

Alfred Street the latest North Sydney pocket to be transformed by residential development

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

Boutique Gordon townhomes now come with a BMW iX3 50

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

Vitale breaks Byron Bay records with EADE sales flurry 

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/1point85m.jpg">
The amount a Melbourne-based private investor has paid on an 8.1% net yield for an industrial property at Rowville in Melbourne’s eastern suburbs in a deal negotiated by Savills Australia. Located at 22 Corporate Avenue, the property comprises a 1,500-square-metre building, including a 500-square-metre office component over two levels and a 1,000-square-metre warehouse on a 2,010-square-metre site. The marketing agents were Adrian Smith and Joseph Catanese (auctioneer). The vendor was a private investor. The property was sold subject to a lease to Transmission Australia - a subsidiary of publicly listed company Regal Beloit Corporation (RBC), Australia’s largest dedicated power transmission and conveyor belting company.
 
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<img src="/images/stories/560k.jpg">
The amount a 235-square-metre, two-storey ground-floor unit in an industrial estate at Kingsgrove in Sydney’s south west has sold for with the deal negotiated by Mark Ammoun of Ray White Industrial M5.The unit at 6/171 Kingsgrove Road was sold to Sydney-based buyers. The unit is rented until the end of the March quarter in 2013 and the buyers intend to move in once the lease has expired. The property is currently rented for more than $35,000 per annum gross.
 
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<img src="/images/stories/99point4b.jpg">
The amount of money invested in commercial property worldwide in the third quarter of 2011 according to Jones Lang LaSalle. About 46% of the investments were in offices, 28% retail property and 11% industrial.
 
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<img src="/images/stories/4point08.jpg"> 
The amount a private investor has paid for a factory and warehouse facility at Knoxfield in Melbourne’s eastern suburbs in a deal negotiated by Savills Australia’s Notting Hill office. The sale price equates to a yield of 8.6%. The warehouse is leased to domestic and commercial appliance supplier Miele Australia, on a recently negotiated five-year term. The 13 Gilbert Park Drive property comprises a 4,144-square-metre building including 823 square metres of office space and a 3,321-square-metre warehouse with a minimum 6.5-metre clearance. The deal was negotiated by industrial director Lynton Williams, who negotiated the deal with colleague Ben Hegerty.
 
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<img src="/images/stories/8m.jpg"> 
The amount Sydney developer Luxcon Property Group has paid for North Sydney site at 156 Pacific Highway. The site had been the Waterhouse family headquarters for more 45 years. Luxcon has development approval for 40 apartments and retail space, designed by PBD Architects. Prices for the apartments will range from mid-$500,000 to $2 million.
 
 
 
 
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lschlesinger-FZcF9M3vE6

Commercial hammer prices

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<img src="/images/stories/2point165.gif">
The amount West Melbourne’s Railway Hotel sold for at auction. The hotel occupies a prime site at 118 Ireland Street, on the corner of Stawell Street and alongside the recently upgraded North Melbourne Railway Station. It was purchased by a private developer following a marketing campaign by CBRE’s Scott Callow. The purchaser was one of four bidders at the February 23 auction.  The developer will seek development approval to convert the hotel to apartments. The hotel dates back to the mid-1800s and is said to have the longest horseshoe-shaped bar in the southern hemisphere. It has been used as setting for crime shows like Underbelly and Stingers.
 
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<img src="/images/stories/8percent.gif">
The net yield a Melbourne-based private investor will secure on an industrial property purchased for $840,000 in Croydon, in Melbourne’s eastern suburbs, in a deal negotiated by Savills Adrian Smith and Lynton Williams. Located at unit 16, 114-118 Merrindale Drive on the Merrindale Business Park, the property comprises a near-new 600-square-metre office and warehouse facility. The property was sold subject to a six-year lease with a six-year option to R Mensa Pty Ltd trading as Creative Concrete Concepts. “This is the sort of property that ticks all the boxes for investors: A secure lease profile, a virtually new building, and a sought-after location both in terms of transport access and proximity to clients and suppliers,’’ say Smith.
 
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<img src="/images/stories/30m.gif">
Roughly how much the Australian Property Growth Fund (APGF) is seeking for the <a href="https://www.propertyobserver.com.au/office/property-fund-seeking-%2430-million-for-melbourne-country-road-headquarters/2012022753567" target="_blank">Richmond headquarters of Australian fashion label Country Road</a>. The two- and three-storey office complex known as “Building 3” is located at 658 Church Street within the Richmond Corporate Park and was once the former Richmond Power Station, constructed in 1891. The building is valued at $29.75 million. It was acquired by APFG in 2003 for $23.2 million and is the only asset in its Property Syndicate No. 4. It measures 8,205 square metres and sits on more than one hectare (10,276 square metres) of land. The building currently returns net rent of around $2.71 million per annum. The fully tenanted building is being marketed by Colliers International directors Peter Bremner and Rob Joyes in conjunction with agents Andrew Dawkins and Walter Occhiuto, of Dawkins Occhiuto. The property is for sale by expressions of interest closing Thursday March 15, 2012 at 4pm.
 
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<img src="/images/stories/2m.jpg">
How much a private Sydney-based investor has paid to purchase about 15.98 hectares of vacant land at Lot 4, 1-3 Industry Drive in North Orange Industrial Estate in the NSW country town of Orange. The industrial property was sold under instructions from receivers and managers Grant Thornton. Tony Gargaro and Derek Erwin of Knight Frank brokered the sale.
 
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<img src="/images/stories/3point4m.gif">
How much a local Orange investor has paid to purchase a modern 3,915-square-metre warehouse on about 12,020 square metres at Lot 3, 7 Industry Drive North Orange Industrial Estate. The property has a remaining eight-year lease to Major National Tenant, Grace Records Management with a Net Income of $368,000 per year plus GST. Tony Gargaro and Derek Erwin of Knight Frank brokered the sale.
 
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<img src="/images/stories/16point3.gif">
The price paid by global fund manager Aviva Investors Asia to acquire the premises that house <a href="https://www.propertyobserver.com.au/retail/woolloomooloo-premises-of-otto-ristorante-and-kingsleys-sell-to-global-fund-manager/2012022253512">well-known Sydney eateries Otto Ristorante and Kingsleys Steak and Crabhouse</a> on Woolloomooloo’s Finger Wharf. Aviva has acquired lots 6 and 7, which houses Otto Ristorante and measures 747 square metres of retail space, and lot 8, home to Kingsleys Steak and Crabhouse, which measures 570 square metres. Michael Gilbert of Chesterton negotiated the sale alongside colleague Michael Stokes. Lot 5, the 540-square-metre premises of Manta restaurant, has been temporarily withdrawn. In a December 2007 investor presentation the properties were valued at $28.5 million.

 
 
 
 
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<img src="/images/stories/110k.jpg">
The estimated annual rent that training and job placement consultants Set Solutions will pay to lease a 710-square-metre office and warehouse facility (including three operating bays, 1,500 square metres of hardstand, and modern office facilities) in Melbourne’s western suburbs in a deal negotiated by Savills Australia divisional director Tim Casanelia and colleague Chris Telley. The company will lease the 610 Geelong Road property in Brooklyn for three years. The lessor is investor/developer Lococo Nominees Pty Ltd.
 
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<img src="/images/stories/260.jpg">
The annual net rent per square metre that Alfred Health will pay to rent three floors totalling 2,407 square metres of office space 607 St Kilda Road, Melbourne. The company agreed to the lease following a major refurbishment and service upgrade by owner Centuria Property Funds, the property funds management subsidiary of ASX-listed Centuria Capital. Following the Alfred Health lease and lease renewals by French multinational Sodexo, Celgene, Six Degrees, Software AG and BDA Marketing the building is now fully occupied. Both Alfred Health and Sodexo were introduced by Jay Pavey of Lemon Baxter. Knight Frank and Colliers International have been appointed to sell the asset, which was acquired by Centuria in 2002 for $21 million.  Expressions of Interest for the sale close on March 15.
 
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<img src="/images/stories/300plus.gif">
The starting annual gross rent per square metre (rising up to the low $400s) that four tenants will pay to lease office space at 459 Little Collins Street following a multimillion-dollar refurbishment. The four new leases total more than 1,850 square metres and were negotiated by Savills Office leasing director Gordon Wyllie. ASX-listed accountants WHK have agreed terms on an 830-square-metre lease and Skilled Group, also ASX listed, has taken a 360 square metre space. A further three firms have signed heads of agreement.
 
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<img src="/images/stories/315.gif">
The amount of rent per square metre that SSP Asia Pacific will pay to lease 550 square metres of office space at level three, 293 Camberwell Road in Camberwell. The three-year sub-lease deal was negotiated by Michael Darvell, Colliers international senior executive of office leasing.  “The space they have taken includes a high quality existing fit-out, and the building itself is also currently undergoing refurbishment which made the space even more attractive,” says Darvell.
 
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<img src="/images/stories/100880.gif">
The asking annual rent to lease the whole of level seven (200 square metres) at 48 Hunter Street in the Sydney CBD. The lease is being marketed by John Skufris of Ray White Commercial, who says the building features include floor-by-floor security, individual packaged air-conditioning, common shower and locker facilities, natural light and a pleasant outlook over Hunter Street.  The annual rent equates to a gross rent of $504 per square metre per annum. The floor is available for sublease with a lease expiry of April 14, 2015. A new direct lease is also available. Onsite parking located within the building is available to rent at an additional cost.
 
 
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Commercial leasing: Watch this space

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<img src="/images/stories/1point4.gif">
How much owner-occupier J P McLaren Press Pty Ltd has paid for a partially completed office and warehouse facility at Keysborough in Melbourne’s south east. The 157-163 Atlantic Drive property, comprising a 694-square-metre building on a 1,391-square-metre site, was sold midway through the speculative construction by local builder and vendor TCC (VIC) and Co Pty Ltd. “This was the first building built in Stage 1 of Australand’s new 100-hectare The Key Industrial Park. The park’s high-profile corner location and immediate access to EastLink have been key marketing points,’’ says Catanese. J P McLaren Press is moving from its current home in Abbotsford to be closer to clients and transport.
 
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<img src="/images/stories/3mplus.jpg">
The sales price Tim Homes and Marco Sandrin, of Colliers International are hoping to achieve for three commercial sites at Airport West, 13 kilometres north of the Melbourne CBD.  The total land area on offer at 36, 35 – 47 Hood Street is approximately 5,293 square metres, including 2,145 square metres of office and warehouse space. Home describes Airport West as transforming into a “prime city fringe area, where space is highly sought after”. “Not only is it within easy distance of the Melbourne CBD, but it’s also home to Essendon Airport, DFO and Coles,” he says. There is a short-term tenancy in place until October. The sites are zoned business 3.
 
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<img src="/images/stories/31m.jpg">
How much a private investor has paid to acquire an office tower in Penrith, put up for sale by Australian Unity’s unlisted diversified property fund. The office tower at 121 Henry Street in the Penrith CBD is an A-grade commercial building with a net lettable area of about 15,416 square metres and 100 undercover car spaces. The ATO last year exercised a five-year option to extend its lease to mid-December 2016. The sale was brokered by Vince Kernahan and John McCann of Colliers International, at a 15% yield.  It last sold for $4.25 million in 1994.
 
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<img src="/images/stories/470k.gif">
The starting price for <a href="https://www.propertyobserver.com.au/office/strata-office-space-in-landmark-melbourne-hoyts-cinema-centre-building-available-from-%24470000/2012030453581">office strata space within the 1966 Peter Muller-designed Bourke Street Hoyts Cinema Centre in Melbourne</a>.  The building’s conversion into strata offices accompanies its relaunch as 140 East by its developers, Drapac Property. CBRE agent Tom Tuxworth and David Combes of Alexander Robertson are steering the strata sales campaign. Whole and half floors as well smaller office ranging from 99 square metres to 677 square metres are being offered. The building housed three cinemas on its opening. Drapac Property bought the building in 2004 after Hoyts moved its main theatre complex to Melbourne Central. The cinemas closed in 2004. Drapac Property purchased the building for $14.4 million.
 
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<img src="/images/stories/29m.gif">
The price estate agents from Colliers International are hoping to achieve for a new five-level 6,369-square-metre office building at 449 Punt Road in Richmond, Melbourne. The building is being offered for sale by expressions of interest, with the sales campaign being handled by Colliers International directors Peter Bremner, Rob Joyes and Jeremy Gruzewski. Joyes says automotive sales company Carsales.com Ltd is the major tenant. “This is a unique opportunity to buy a building that is 81% leased to a top-tier, ASX-listed company for eight years,” he says. Carsales.com Ltd has taken up four of the five levels on a fully leased basis with an estimated total net rental of $2.56 million per annum. The building has achieved a four-star green star rating standard and being a new building, offered potentially significant depreciation benefits. It is less than three kilometres east of the Melbourne CBD, and the upper levels of the building enjoy uninterrupted views over Melbourne’s sports stadium precinct. The expressions-of-interest campaign closes on March 23 at 4pm.
 
 
 
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<img src="/images/stories/1point05.gif">
The amount a local investor has paid an office and warehouse property at Bayswater in Melbourne’s outer-eastern suburbs, in a deal negotiated by Ben Hegerty of Savills Australia. The 15 Brunsdon Street property comprises a single-level office/warehouse building with a net lettable area of 974 square metres (217-square-metre office) and a lockable storage yard and ample parking on the 2,020-square-metre site. Hegerty said the property attracted a good level of interest from owner-occupiers, developers and particularly investors, “in a market starved of investment opportunities”. The property was sold with vacant possession by a private syndicate.
 
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<img src="/images/stories/11per.gif">
The initial yield achieved on the Marketland Shopping Centre in Penrith in Sydney’s western suburbs following its sale for $4.5 million. The neighbourhood shopping centre is anchored by Franklins and Celebrations Liquor. It was to a private investor in a deal negotiated by Ben Stewart from Savills NSW retail sales, on behalf of Charlotte Street Belmore Pty Ltd. The property is located at 11 Caloola Avenue, Penrith and features a total lettable area of 2,144 square metres. Car parking is also provided for some 65 vehicles on a 0.65-hectare site. The sale was underpinned by a long lease to Franklins until 2024. The shopping centre last sold for $4.05 million in November 2005.
 
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<img src="/images/stories/3point95m.jpg">
The amount an owner-occupier has paid for a modern office/warehouse property at Braeside in Melbourne’s south east. The 41 Woodlands Drive property comprises a 4,340-square-metre building including office, showroom, training rooms and boardroom and a clear span warehouse. The deal was negotiated by Savills Australia’s Lynton Williams, in conjunction with Gorman Kelly’s Mario Nobrega. The property was purchased with vacant possession by a stair manufacturing company. The property was recently vacated by diesel and natural gas engine supplier Deutz Australia Pty Ltd, which relocated to Springvale.  The vendor was a local private investor.  
 
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<img src="/images/stories/61m.gif">
The amount diversified property group GPT Group will pay to acquire the Citiport industrial park in Port Melbourne, as it reported annual net profit, down $246.2 million from $707.3 million the previous year. The 2.55-hectare park was jointly marketed by Knight Frank agents James Templeton and Paul Henley in conjunction with Colliers International agents Tony Iuliano and Rob Joyes. It features a five-level office building and high-tech office/warehouse units with total building area of 28,000 square metres.
 
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<img src="/images/stories/725m.gif">
The sales price achieved on a stand-alone office / warehouse in the Moorabbin industrial precinct in Melbourne’s south east sold by Ryan Amler from Ray White Commercial Oakleigh. The warehouse was purchased by a locally based business that intends to be an owner-occupier. It was sold as a vacant possession by a former owner-occupier. The two-storey warehouse/office is on a land area of approximately 770 square metres with a building of approximately 710 square metres.
 
 
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A five-bedroom Strathfield house fetched this week's highest price of $2,545,000.
New South Wales properties accounted for seven of the top 10 sales of the week, according to RP Data, with a five-bedroom ACT house appearing at number four. There were just two Victorian properties on the list this week. 
1. 5 CAMERON STREET, STRATHFIELD, NSW, 2135, five-bedroom house, sold at auction on March 3 by LJ Hooker Stratfield for $2,545,000
2. 79 YARRBAT AVENUE, BALWYN, VIC, 3103, five-bedroom house, sold at auction on March 3 by RT Edgar Toorak for $2.51 million
3. 45 TUCABIA STREET, SOUTH COOGEE, NSW, 2034, four-bedroom house, sold at auction on March 3 by Ray White Bondi Junction/Clovelly/Coogee for $2.44 million
4. 13 LOCKYER STREET, GRIFFITH, ACT, 2603, five-bedroom house, sold at auction on March 3 by  Luton Properties Woden for $2,246,000
5. 3/96 BEACH ST COOGEE, NSW, 2034, three-bedroom unit, sold March 2 by  NG Farah Randwick for $2.2 million
6. 34 THE CRESCENT, MANLY, NSW, 2095 four-bedroom house, sold before auction on March 3 by Clarke &amp; Humel Property for $2.15 million
7. 27 MADELINE STREET, HUNTERS HILL, NSW, 2110, three-bedroom house, sold at auction on March 3 by Sarah Lorden Real Estate for $2.01 million
8. 20 GLADSTONE PARADE, ELSTERNWICK, VIC, 3185, three-bedroom house, sold at auction on March 3 by Biggin &amp; Scott Elsternwick for $2 million
9. 8B/5 THORNTON STREET, DARLING POINT, NSW, 2027, three-bedroom unit, sold at auction on March 1 by Raine &amp; Horne Double Bay for  $1.95 million
10. 33 WATER RESERVE ROAD, NORTH, BALGOWLAH, NSW, 2093, five-bedroom house, sold at auction on March 3 by McGrath Estate Agents for $1,825,000
 
 
 
 
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cknowlton-QnEa6ntUYP

Top 10 sales of the week: RP Data

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New South Wales dominated RP Data's list of the top 10 sales, with the state accounging for nine of the 10. The most expensive property sold this week, according to the data company, was a Milsons Point three-bedroom unit that sold for $3,675,000. Queensland just squeezed onto the list with the $2 million sale of a four-bedroom Toowong house. 
 
1. 501/20 ALFRED STREET SOUTH MILSONS POINT, NSW, 2061, three-bedroom unit, sold at auction on March 8 by Ray White Lower North Shore for $3,675,000
2. 7/30 ST MALO AVENUE, HUNTERS HILL, NSW, 2110, four-bedroom unit, sold at auction on March 3 by McGrath Estate Agents for $2,975,000
3. 1/98 BELLEVUE ROAD, BELLEVUE HILL, NSW, 2023, five-bedroom house, sold on March 9 by Laing + Simmons Double Bay for $2,800,001
4. 38 ANNETTE STREET, OATLEY, NSW, 2223, four-bedroom house, sold at auction on March 10 by McGrath Estate Agents for $2.4 million
5. 113 HENLEY MARINE DRIVE, DRUMMOYNE, NSW, 2047, three-bedroom house, sold at auction on March 10 by Warwick Williams Real Estate for $2,195,000
6. 18 LITTLE SURREY STREET, DARLINGHURST, NSW, 2010, four-bedroom house, sold on March 6  by BresicWhitney Estate Agents Darlinghurst for $2.15 million
7. 26 WENTWORTH STREET, RANDWICK, NSW, 2031, three-bedroom house, sold on March 7 by GoodyerDonnelley Real Estate for $2.1 million
8. 44 MILL HILL ROAD, BONDI JUNCTION, NSW, 2022, four-bedroom house, sold after auction on March 6 by Di Jones Real Estate Woollahra for $2 million
9. 18B BEATTIE STREET, BALMAIN, NSW, 2041, three-bedroom house, sold on March 9 by Cobden &amp; Hayson Balmain for $2 million
10. 3 HOLMES STREET, TOOWONG, QLD, 4066, four-bedroom house, sold at auction by Ray White Indooroopilly for $2 million 
 
 
 
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RBA governor Glenn Stevens released a statement regarding the bank's decision to leave rates on hold:
"At its meeting today, the board decided to leave the cash rate unchanged at 4.25%.
"Recent information is consistent with the expectation that the world economy will grow at a below-trend pace this year, but does not suggest that a deep downturn is occurring. Several countries in Europe will record very weak outcomes, but the US economy is continuing a moderate expansion. Growth in China has moderated, as was intended, and is likely to remain at a more measured and sustainable pace in the future. Conditions around other parts of Asia softened in 2011, partly due to natural disasters, but are not showing signs of further deterioration. Some moderation in inflation has allowed policymakers in the region to ease monetary policies somewhat. Commodity prices declined for a few months last year and are noticeably off their peaks, but have been relatively stable for a while now, at quite high levels. Australia’s terms of trade have peaked, though they remain high.
"Financial market sentiment has generally continued to improve in recent weeks and capital markets are supplying funding to corporations and well-rated banks. At the margin, wholesale funding costs are tending to decline, though they remain higher, relative to benchmark rates, than in mid 2011. But the task of putting European banks and sovereigns onto a sound footing for the longer term remains large and Europe will remain a potential source of adverse shocks for some time yet.
"In Australia, growth in domestic demand ran at its fastest for four years in 2011, driven by private spending. Nonetheless the balance of recent information suggests that output growth was somewhat below trend over the year. There are differences in performance between sectors, and considerable structural change is occurring. Labour market conditions softened during 2011, though the rate of unemployment has been little changed for some time.
"Interest rates for borrowers remain close to their medium-term average. Credit growth remains modest. Housing prices have shown some signs of stabilising recently, after having declined for most of 2011, but generally the housing market remains soft. The exchange rate has remained high over recent months, even though the terms of trade have declined somewhat.
"In underlying terms, inflation was around 2½% in 2011. CPI inflation was higher than that but will fall over the next quarter or two. It is currently expected that inflation will be in the 2% to 3% range over the coming one to two years. This forecast abstracts from the effects of the carbon price and also embodies an assumption that productivity growth in the economy increases somewhat as a result of the structural change now occurring. At its next meeting, the board will have the opportunity to reassess the outlook for inflation, taking into account not only data on demand and output but also forthcoming information on prices.
"The board eased monetary policy late in 2011. Since then, its judgement has been that, with growth expected to be close to trend, inflation close to target and lending rates close to average, the setting of monetary policy was appropriate. The Board's view was also that, were demand conditions to weaken materially, the inflation outlook would provide scope for easier monetary policy. At today's meeting, the board judged the pace of output growth to be somewhat lower than earlier estimated, but also thought it prudent to see forthcoming key data on prices to reassess its outlook for inflation, before considering a further step to ease monetary policy."
 
 
 
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RBA governor's statement

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<img src="/images/stories/1point64m.gif">
The annual rent that South Australian government’s Department of Environment and Natural Resources will pay to lease a five-level office building over five years, with the lease commencing on June 30.  The lease of 1 Richmond Road was negotiated by McIntyre Robertson Scarborough Pty Ltd on behalf of Centuria Capital’s property funds management subsidiary, Centuria Property Funds. The building was constructed in 1985 and provides approximately 8,135 square metres of office accommodation and approximately 527 car spaces. It is currently leased to the Royal District Nursing Service and the SA government. The property occupies a prominent position on one of Adelaide’s main arterial roads and is located one kilometre south-west of Adelaide’s CBD and approximately five minutes from the Adelaide Airport.
 
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<img src="/images/stories/170k.gif">
The estimated gross annual rent that national building firm Parchem Constructions Supplies Pty Ltd will pay to lease a warehouse/office complex in the Gaven Central business precinct on the northern Gold Coast on a three-year lease including two three-year renewal options. The company has leased 328 Brisbane Road, Arundel, in a deal negotiated by Nick Baxter and Larry Dean of Ray White Commercial Runaway Bay. Parchem is a subsidiary of ASX-listed Alesco. The building comprises a 600-square-metre outdoor display area, a 1,000-square-metre showroom, an 85-square-metre warehouse and a 320-square-metre mezzanine office.
 
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<img src="/images/stories/450.gif">
The initial annual rent per square metre that the Last Resort group will pay to lease level three at 99 York St in the Bowler's Club building in the Sydney CBD in a three-year deal. The company supports a wide range of working holiday, living, study and intern abroad programs for Japanese citizens. The lease agreement was negotiated by Ray White Commercial's John Skufris, who says Last Resort will be relocating from the Citigroup building at 2 Park Street. According to Skufris, others to move into the Bowler’s Club building include health services business Assessments Australia and multi-media news organisation, investor portal and events management firm Proactive Investors.  Ray White Commercial completed both transactions on behalf of owners CBD Design and Print Management Nominees. The property at 99 York Street is a 14-storey strata-titled office building with basement parking and more than 12,000 square metres of office space. Other occupants include the Jewellers Association of Australia, Association of Independent Schools of NSW, Australian College of Professionals and the Canturi Corporation. “We have one remaining suite of approximately 165 square metres available for lease,” says Skufris.
 
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<img src="/images/stories/100k.jpg">
The estimated net annual rent that industrial business consultant the Phalanx Group will pay on a new five year office lease at Mt Waverley in Melbourne’s south-eastern suburbs.  The 8/14 Lionel Road property comprises a modern 550-square-metre premises, which, according to leasing agents Savills Australia’s Daniel Kelly and Lynton Williams will cater to the company’s expansion and offer significant cost efficiencies. Phalanx will relocate from the inner east, where rents are substantially higher. Kelly says Mt Waverley offers more space at a much cheaper rental with the additional advantage of freeway access and plentiful parking. The lessor is a private investor based in Melbourne.
 
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<img src="/images/stories/640k.gif">
The annual net rent that Sara Lee will pay to lease level one, lot one, a four-level office building at 924 Pacific Highway on Sydney’s upper north shore. The food company will lease 1,798 square metres of strata office area on one floor plus a large (243-square-metre) outdoor entertaining terrace. The five-year lease was arranged by Justin Hayes of Jones Lang LaSalle on behalf of Centuria Capital’s property funds management subsidiary, Centuria Property Funds. The building is positioned on the corner of the Pacific Highway and Ryde Road.
 
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<img src="/images/stories/7300.gif">
The record price a private developer has paid per square metre for a 168-square-metre boutique development site on Melbourne’s Southbank following a successful auction conducted by Savills Australia. The total price paid was $1.233 million. According to Savills directors Nick Peden and Clinton Baxter the hotly contested auction for the 11-13 Hancock Street property drew 67 bids, pushing the price 30% above the vendor’s reserve. The site is 900 metres from the Melbourne CBD, within walking distance of the Crown Casino Complex, the Southgate Complex and Clarendon Street shopping. Sold with vacant possession, the property comprises a single-level workshop dating back to the 1940s, which has been owned by the vendor since its construction.
 
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<img src="/images/stories/550k.gif">
The price paid for a former Anglican rectory used for offices in the Nowra CBD. The property at 66 Plunkett Street was sold to local business interests by Ray White Commercial Shoalhaven principal Scott Baxter. The old rectory was built around 1877 and still retained many period features. The building is situated on a 1,127-square-metre block with plenty of off-street parking space. The city of Nowra is approximately 170 kilometres south of Sydney and is the commercial and administrative centre of the Shoalhaven region on the south coast of New South Wales. It last sold for $295,000 in 2002.
 
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<img src="/images/stories/20m.gif">
The amount Melbourne property developer Michael Yates has paid for a 3,500-square metre South Yarra development site on Chapel Street, between Toorak Road and Alexandra Avenue. The site will be developed into apartments in a few years, following other Yates projects on Claremont Street and Yarra Street.
 
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<img src="/images/stories/9mplus.gif">
The amount sought for the  <a href="https://www.propertyobserver.com.au/retail/telstra-store-premises-in-melbourne-cbd-has-%248-million-price-tag/2012031253797">Telstra store premises on Collins and Swanston streets, reputed to be one of the busiest pedestrian city corners in Melbourne</a>, when it goes to auction on March 22. The shop at 220 Collins Street measures just 65 square metres and is situated on the ground floor of the 1932 Art Deco Manchester Unity building, whose completion was said to signal to Melburnians the end of the Great Depression. The store is being marketed by Josh Rutman, Mark Wizel and Max Cookes of CBRE, with a yield of around 5% anticipated.
 
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<img src="/images/stories/36point5m.gif">
How much Stockland has paid to acquire the Centro Townsville shopping centre. <a href="https://www.propertyobserver.com.au/retail/centro-seeks-buyer-for-townsville-centre/2011090651453" target="_blank">The 13,650-square-metre sub-regional Centro centre</a> stands on 4.2 hectares of land and includes Kmart, Coles, Commonwealth Bank and 25 specialty shops.  The sale of the centre was negotiated by Peter Tyson and Jon Tyson of Savills in a joint campaign with Knight Frank Townsville's John Quinlan. Tyson says the centre generated solid interest from the market. Centro Townsville was valued at $35.5 million in April this year, up 4.5% from a December 2010 valuation of $34 million and last sold for $20.75 million in November 2001.
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