<a href="https://www.urban.com.au/developers/far-east-consortium">Far East Consortium</a>’s 640 Bourke Street stands as a testament to&nbsp;<a href="https://www.urban.com.au/developments/melbourne-vic-3000">Melbourne</a>’s ability to bridge its storied past with a bold vision for the future.&nbsp;

Rising above the heritage-listed Eliza Tinsley building, the development reflects a broader shift toward adaptive reuse in the city, where historical assets are retained and reinterpreted as part of new residential development.

Designed by <a href="https://www.urban.com.au/architects/rothelowman">Rothelowman</a>, <a href="https://www.apartments.com.au/new-apartments/640-bourke-street-melbourne-640-bourke-street-melbourne-vic-3000">640 Bourke Street</a> incorporates the Eliza Tinsley building as its foundation, housing a grand gallery and lobby space that serve as both a functional and symbolic centrepiece. The heritage façade informs the tower’s design, creating a connection between Melbourne’s past and its contemporary skyline.

"It's a significant asset and wants to be celebrated and experienced by all residents every single time they go in and out of the building," Rothelowman Principal Stuart Marsland said.

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Above this historic base, the 68-storey tower will deliver just over 600 residences, a notable reduction from earlier schemes, reflecting a deliberate move toward larger-format apartments and a stronger owner-occupier focus.

Unlike traditional CBD developments that prioritised investor stock, 640 Bourke Street has been repositioned to respond to changing buyer expectations.

"The discussion was all around making 640 Bourke Street the best residence to live in, to be much more focused on the people in the building rather than people looking at the building," Marsland explained.&nbsp;

This shift is evident in the development’s interiors, which emphasise practical luxury with spacious layouts, high ceilings, and floor-to-ceiling windows framing sweeping views of Melbourne and Port Phillip Bay.&nbsp;

“What it's meant for 640 Bourke is we've actually reduced the number of apartments. We've increased the overall size of the apartments. We don't have any studios in here, and what that does for a project is it elevates it," Lauren Sheldon, Far East Consortium’s Director of Sales and Marketing, said.&nbsp;

[smartcode_project:default project_id=509 project_image_fid=365687]

Rothelowman Associate Jun Chang added, "We were given the opportunity to be more generous. The apartments became bigger and squarer than any other apartments which had been designed in the CBD before that."&nbsp;

Amenities spanning more than 3,000 sqm across multiple levels further reinforce this focus on resident experience. These include a pool, gym, co-working areas, and a range of hospitality-inspired spaces such as a whisky lounge, library, and private dining rooms, many drawing reference from traditional bathhouses and Melbourne’s laneway culture.

"We wanted to make both the pool and the gym area to be absolutely destinational, and when you traverse across to these spaces, there is a gentle familiarity to the beautiful notions of the hammams and the Roman baths, a gentle nod to history," Chang noted.

At street level, the project contributes to the ongoing transformation of the western CBD, with upgrades to Langs Lane and the introduction of retail, hospitality, and gallery spaces designed to activate the precinct and strengthen its connection to the surrounding city fabric.

[smartcode_project:default project_id=509 project_image_fid=365689]

The location places residents within walking distance of Southern Cross Station, Flagstaff Gardens, Queen Victoria Market, and the Docklands waterfront, positioning the development within a rapidly evolving inner-city neighbourhood.

"We believe it's the best site left in the city of Melbourne," Craig Williams, Executive Director at Far East Consortium, said.&nbsp;

640 Bourke Street is Far East Consortium’s 14th building in Melbourne’s western CBD.

"A very elegant designed building. It's going to be a Melbourne statement for many, many years to come."

One-bedroom apartments are priced from around $640,000, with 640 Bourke Street targeting completion in 2029.

Renders shown are Artist's Impressions correct as of May 2026.

[smartcode_project_cta:default project_id=509]

Joel Robinson

Heritage-led design anchors Far East Consortium’s 640 Bourke St, Melbourne

<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.

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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]

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 Studio to craft the interiors for The Frederick, BIG Projects' new Mermaid Beach project and YSG Studio'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 Studio, with landscape design by LDG Landscape Architecture.

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 unique detailing and compelling design,"&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]

Sydney’s YSG Studio makes Gold Coast multi-residential debut with BIG Projects at The Frederick

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

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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IWG, a provider of flexible workspaces, has announced a new appointment to its Australian franchise team as it continues to grow its newly launched franchise program in Australia.
Mark Bhardwaj has been named Head of Partnership Growth in Australia to help deliver IWG’s ambitious growth strategy, by driving the local franchise offering which allows Australian franchise operators to enter the booming workspace industry. 
His role will involve further extending the local delivery of IWG’s franchise business model, to accelerate national growth with franchise partners around Australia. 
Mr Bhardwaj has almost 20 years of experience across franchise, business development and financial services. Previous positions include Head of Franchise Development at Volkswagen Group Australia, Head of Sales and Operations at ŠKODA Auto Australia, and both General Manager of Business Development and National Franchise Development Manager at Ateco Group Australia. 
Mark will report into Head of Partnership Growth in Asia Pacific, Matthew James Kenley, who is leading the business’ drive to grow its franchise offering across the region. 
“The demand for flexible workspace is growing exponentially across the world, including in Australia. By 2030, it is predicted that up to 30% of all commercial real estate will be flexible workspace, while flexible working is estimated to increase the total economic output in Australia by an estimated $122 billion,” said Damien Sheehan, the Country Head of IWG Australia. 
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Mark Bhardwaj appointed at flexible workspace company IWG Australia

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The Double Bay fashion premises of well known designer Carla Zampatti is up for lease.

The first floor, open plan commercial space at <a href="https://www.realcommercial.com.au/for-lease/property-12-bay-street-double-bay-nsw-2028-503375302" target="_blank">12 Bay Street</a>, spans 100 sqm across two levels.

<img alt="" src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2019/11/ZAMPATTI%20DOUBLE%20BAY%201.jpg">

Zampatti has owned and operated from the property for over three decades.

1st City's John Knott suggests the space would suit a photographer, graphic design space, yoga studio or offices.

Zampatti owns the majority of the premises where he fashion brand operates.

She owns her stores in Mosman and the fashion empire's HQ in the Sydney CBD.

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Carla Zampatti's Double Bay fashion house for rent

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An investor negotiated post-auction to pay $4,375,000 for a prime mixed-use Leichhardt building.
The property at <a href="https://www.commercialrealestate.com.au/property/122-128-marion-street-leichhardt-nsw-2040-2015767751" target="_blank">122-128 Marion Street</a>, offered for the first time in nearly four decades, is located 50 metres from the entrance to Leichhardt Market Place.
It is fully leased to five separate tenants with an annual net passing income of $223,678.
Italian restaurant Frattini, Bar Passalacqua, Jump! Swim School and Trassit Hair Studio occupy the building.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2019/11/19/Marian%20Leichhardt%202.jpg" alt="">
The 505 sqm site, with 605 sqm of net lettable area, was marketed as having future development upside.
Ray White Commercial NSW agents Kristian Morris and Lachlan Palm secured the sale.
Morris said it was rare for a tightly-held Inner City freehold investment to come available and it also offered excellent positioning, being just six kilometres west of the Sydney CBD.
“We had five registered bidders battling it out on the day, with the property selling for more than $800,000 over the opening bid,” Morris said.   “The two-storey mixed-use building also offered the opportunity to redevelop with holding income and has a net $223,678.51* of passing income.   “The property by itself represents a corner site both for value-add, as well as potential redevelopment, subject to council approval.   “The asset's address and title identify a frontage facing Marion Street, however the property's exposure extends around the corner to Edith Street with rear access, parking and loading. 
“It's surrounded by public transport with buses and light rail, with direct access to Parramatta Road and walking distance to Leichhardt marketplace, anchored by major retailers such as Woolworths and Aldi.”
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Investor pays $4,375,000 for a mixed-use Leichhardt retail premises

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1800 Removals, and Super Vape Store, have snapped up two separate leases in the Brisbane suburb of Hemmant, at 9/227 Fleming Road, and 10/227 Fleming Road respectively.
With a total building area of 1,128 square metres, shed nine came with a 1,044 square metres warehouse and 84 square metres of office space. 
Shed 10 came with a 373 square metre warehouse and 79 square metres of office space. 
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2019/11/15/Hemmant%201.jpg" alt="">
1800 Removals snapped up shed nine for $131,976 p.a. plus outgoings and Super Vape Store sealed a deal at shed 10 for $56,000 p.a. plus outgoings - a gross total of over $200,000. 
Both properties were leased by Ray White Commercial TradeCoast’s Jared Doyle and Jack Gwyn. 
Mr Doyle said he was pleased to deliver two excellent results for the owners following an agent function, given they had not originally been appointed for the site. 
“We weren’t the banner marketing agents for this site but decided to go along to an agent function held on site a few months ago,” Mr Doyle said. 
“Here, we received information about the site and have since introduced quality tenants sealing these two deals, to the delight of both lessors and lessees. 
Mr Gwyn said 1800 Removals had been struggling to find the right property and thought they had until circumstances quickly changed. 
“They had heads of agreement fully executed, however engineer’s reports confirmed the unique suspended slab wouldn't hold their trucks and containers,” Mr Gwyn said. 
“We then had to scramble to find something else under time pressure and we were able to justify the owner's realistic rental expectations and achieve the asking price."
Hemmant is approximately 11 kilometres to the east of Brisbane's CBD.
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Hemmant, Brisbane commercial sheds leased by 1800 Removals and Super Vape Store

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A commercial property, in the Sunshine Coast suburb of Kunda Park, has been bought by a local investor for $850,000. 
The asset, Unit 12/15 Rawlins Circuit, came with a 454 square metre building area. 
It was leased to a high-profile tenant who occupied a majority of the development, with a significant infrastructure investment to come. 
The property was marketed and sold by Ray White Commercial Noosa and Sunshine Coast North Property Consultants Matt Marenko and Louisa Blennerhassett. 
Mr Marenko said the team received five offers on the property and it sold within five days of hitting the market. 
“The tenant was Unique Health Products who had occupied the property since 2012 and have a very successful business distributing products in the health food sector,” he said. 
“The investment market continues to strengthen thanks to interest rates remaining at an all-time low.”
Mr Marenko said investors were pulling their money out of the banks and buying property to take advantage of the stronger yields 
“We have four buyers from this property who missed out, and a long list ready, but we need more properties to sell,” he said. 
It is 7.5 km, or 10 minutes by car, from the Sunshine Coast’s CBD.
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Sunshine Coast Kunda Park commercial property sells for almost $1 million

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EXPERT OBSERVER
Real estate consumers would be better informed if media could let go of its obsession with median price movements and auction outcomes in the two biggest cities as the barometer of all things real estate.
The state of the nation, in terms of housing markets, is too often seen through the prism of the property price indexes and clearance rates for Sydney and Melbourne.
Not only does this ignore the different scenarios occurring in other important markets, but it tells us very little that’s useful.
Investors essentially want to know where prices are going to move before they move. A report telling consumers how much prices moved in the recent past simply tells consumers where they should  have bought a year ago.
Equally a report that Sydney’s clearance rate is regularly topping 70% doesn’t tell us where in Sydney people should be buying and it’s useless information if you’re interested in some other part of the country.
There are much more useful barometers that actually provide clues about where prices might rise before they do so. Sales volumes often provide evidence about where prices are likely to move, up or down, and that’s why I put so much time and effort into publishing my Price Predictor Index every quarter.
Trends in the rental market are also a useful indicator of what might happen with prices. There’s ample research that shows that rents often rise for a period before prices start to react. And rents rise because vacancies are low. We saw that scenario play out in Sydney (before the recent correction) and also in Hobart where prices remain strong, with vacancies the lowest in capital city Australia.
I note that Simon Pressley of Propertyology, a researcher whose work deserves respect and attention, has recently reported on the importance of vacancy rates as an indicator of future price trends. I certainly agree with Pressley that low vacancies and strong rentals can be a precursor to a period of price growth.
With that in mind, I’m always interested in precincts where vacancies are super tight, particularly when those places have other solid credentials.
And you have look beyond the generalised figures published in mainstream media. Sydney might have a vacancy rate around 3.5%, but there are local precincts with tight rental markets. Postcode 2168 in the Liverpool LGA has a vacancy rate of just 1.8% and includes a range of suburbs where affordable (by Sydney standards) suburbs are attracting first-home buyers and others. 
Melbourne, where markets are on the boil again, has many local precincts where rental markets are very tight. In the Moreland LGA, most postcodes have vacancy rates well under 2%. The Brunswick West postcode is currently 1.2%, according to SQM Research, while the postcode covering Coburg and Coburg North is 1.3%.
These are real estate locations with good bones and it’s worth noting that during the recent period when Melbourne prices generally were falling, many of the apartment markets throughout the Moreland LGA continued to achieve growth in their median prices – and the tight rental market has kept yields in the 4% to 4.5% range, which is above average for Melbourne.
Rental markets are even tighter in nearby Darebin – most postcodes have vacancy rates below 1.5%. The Northcote postcode is 1% and the Thornbury postcode is 0.9%. In Preston, the vacancy rate is 1.3%, the median price for apartments has risen in the past year, and the median rental yield is 4.6%.
As Melbourne generally recovers from the post-boom correction, locations like these are going to be strong performers.
One reason that Ballarat has been delivering such strong price growth in recent years is the strength of its rental market. Vacancies have been under 3% for the past five years and currently average around 1.5%. Many suburbs have had double-digit growth in their median house prices in the past 12 months.
The revival of many regional Queensland markets has been heralded by big improvements in their rental markets. Mackay provides a striking example. When the resources investment boom evaporated, vacancies rose in Mackay and prices inevitably fell. But now vacancies are around 1.5%, rental yields of 5.5%, 6% and higher are available, and prices are now responding.
There are numerous examples across the nation – but you’re not going to find out about them by reading our metropolitan newspapers.
Terry Ryder is the founder of hotspotting.com.au
<a href="https://mailto:ryder@hotspotting.com.au">ryder@hotspotting.com.au</a>
twitter.com/hotspotting
 
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How to find real estate locations with good bones: Hotspotting's Terry Ryder

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Investors in North Sydney remain predominately offshore, with cross-border purchasers accounting for more than two thirds of total investments this year to date, according to the latest report from CI Australia on the North Sydney market.
They found that of the $1.53B invested into commercial assets in the North Sydney CBD last year, Canadian funds represented the largest portion of investment by dollar volume, followed closely by investors in Hong Kong and Singapore.
An influx of coworking spaces can be observed in North Sydney over the last few months, with the expansion of companies such as WeWork &amp; Regus, an additional 7,000 sqm has entered the market, bringing the total up to 23,700 sqm.
The introduction of coworking would likely have the largest impact on the smaller end of the market, with vacancy of secondary suites already rising over the last few months. In the long run, these spaces may even assist in fostering healthy competition, leading to increased flexibility and shorter terms for tech tenants.
CI said, "boosted by the low-interest rate environment, prime yields on commercial real estate in North Sydney are currently at an all time low."
"Recent transactions have seen fully-leased yields in the low 4% range - levels on par with those observed in the Sydney CBD."
"Following substantial growth in rents over the last 3 year, rental levels are now tending towards stability and will continue to increase with the rates applicable to annual review," they noted
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North Sydney office market yields are at all time lows: CI Australia

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Quincy, the designer shoe store in Woollahra, is leaving its Woollahra Queen Street premises after nearly a decade.
They've been located at <a href="https://www.propertyobserver.com.au/%20https:/www.realcommercial.com.au/for-lease/property-76-queen-street-woollahra-nsw-2025-503386746" target="_blank">76 Queen Street</a> since 2010.
At the time, Quincy owner Kate McDiven told the Sydney Morning Herald that the street appealed because of its beauty and friendliness.
The commercial space with a current modern retail fitout includes, mirrors, floor to ceilign storage cupboards and white timber floors.
There's a kitchen and toilet at the back of the space, with rear lane access on the 125 sqm parcel.
Farquharsons Exec Rentals Double Bay agent Alana Sorensen is marketing the property.
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Quincy to vacate Woollahra's Queen Street after a decade

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Investment giant Moelis have entered in to an exclusivity agreement to buy The Beach Hotel in Byron Bay.
They're set to pay just over $100 million.
Moelis Australia, headed by the Sydney Swans chairman Andrew Pridham, will establish a single asset fund following the agreement, with investors to be given the opportunity to invest in the business.
If the transaction proceeds, the Beach Hotel will be managed by Moelis Australia Hotel Management, with the intention to retain the majority of the existing management operations and venue staff.
Moelis Australia Hotel Management CEO Dan Brady called The Beach Hotel Byron Bay an "iconic Australian establishment located on irreplaceable real estate."
"The acquisition of both freehold and operating interests will enable the required capital investment to further enhance what has made the hotel iconic - that is, a great community gathering place with a fun, sociable, friendly and safe hospitality offering delivered by an engage and passionate team of local hospitality professionals," Brady said.
Moelis already own several hotels, but The Beach Hotel Byron Bay will be operated separately. 
Moelis manages ASX listed Redcape Hotel Group and a single asset fund which owns the Grand Hotel in Rockdale.
It was just the second time The ‘Beachie’, as it is often referred to, was offered to the market since it was built in the 1990s by long-time local John 'Strop' Cornell.
<img src="https://www.urban.com.au/images/2019/11/18/Byron%20Bay%20Beach%20Hotel%202.jpeg" alt="">
The business was sold by the Melbourne-based Impact Investment Group, a joint venture between the Liberman and van Haandel families.
The oceanside pub was sold by Impact Investment Group, which owned the freehold, and Melbourne restaurateurs and hospitality figures John and Lisa van Haandel, who owned the business side.
Melbourne restauranteurs and hospitality figures John and Lisa van Haandel have operated the property since 2007. 
It was offloaded by Cornell for $44 million. It last traded for $68.2 million just last year.
Located with over 100 metres frontage overlooking Byron’s Main Beach, the hotel spans a 4,585 sqm area and includes 25 newly-appointed luxury boutique hotel rooms and swimming pool.
It also features a large pub with extensive beer gardens, restaurant, function spaces and bottle shop.
JLL’s national director John Musca, boutique accommodation specialist Tom Gibson secured the sale and JLL's Queensland Vice-President Tom Gleeson secured the sale.
 
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Moelis buys Byron Bay's The Beach Hotel for just over $100 million

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Equinix, a global interconnection and data centre company, has announced the opening of its eighth International Business Exchange data centre in Sydney. The complex will be named SY5. 
With an initial investment of US$160 million (A$224 million), the South Sydney facility will be the largest to date for the company in Australia. 
<img src="https://www.urban.com.au/images/2019/11/15/sy5%202.jpeg" alt="">
Supporting Equinix to formally open and celebrate this milestone was Federal Member of Parliament for the seat of Kingsford Smith and the Shadow Assistant Minister for Financial Services &amp; Shadow Assistant Minister for the Republic, the Hon. Matt Thistlethwaite MP. 
“Equinix is committed to continuously evolving our services to interconnect our customers at the digital edge, a critical part of digital transformation efforts of many enterprises, cloud providers and network providers,” said the President of Equinix Asia-Pacific, Jeremy Deutsch. 
A recent report commissioned by CSIRO’s Data61, the data and digital specialist data sciences arm of Australia’s national science agency, reveals digital transformation is forecast to be worth A$315 billion for the Australian economy throughout the next decade.
<img src="https://www.urban.com.au/images/2019/11/15/sy5%203.jpeg" alt="">
Interconnection is critical to enabling digital businesses according to the Global Interconnection Index (GXI) Volume 3, an annual market study published by Equinix, which predicts Sydney’s private connectivity at the edge will grow by 49% annually to 2022. 
It is located in Alexandria, about four kilometres from Sydney’s central business district, and offers an initial capacity of 1,825 cabinets.
SY5 is the eighth data centre for Equinix in Sydney, and the sixteenth in Australia (with other sites in Melbourne, Perth, Canberra, Adelaide and Brisbane). 
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