<a href="https://www.apartments.com.au/new-apartments/smith-by-valli-collingwood-224-228-smith-street-collingwood-vic-3066">Smith Collingwood</a> is a new boutique apartment development bringing a refined, design-led approach to one of Melbourne’s most established inner-city neighbourhoods.

Designed by <a href="https://www.apartments.com.au/architects/pandolfini-architects">Pandolfini Architects</a> with interiors by <a href="https://www.apartments.com.au/interior-designers/lisa-buxton-interiors">Lisa Buxton</a>, Smith by Valli sits on iconic Smith Street and comprises just 22 residences tailored toward owner-occupiers seeking a more considered style of apartment living.

[smartcode_project:default project_id=140747 project_image_fid=367540]

The design of Smith focuses on a north-facing orientation across all residences, a relatively uncommon feature in dense inner-Melbourne settings. Each apartment has been planned to maximise natural light and outlook, alongside a material palette defined by warm tones, custom joinery, and a full suite of Gaggenau appliances.

The development comprises a mix of one, two, and three-bedroom apartments, with pricing currently ranging from just under $1 million to around $4.85 million for the premium penthouse-level residences, reflecting growing demand for luxury owner-occupier product in Melbourne’s inner urban market.

Residents will also have access to a private rooftop garden designed as an elevated retreat above the city, &nbsp;featuring curated landscaping, veggie boxes, intimate seating areas and spaces for relaxed gatherings. Sustainability has also been integrated into the project through a 7-star energy rating and two secure bicycle facilities for every residence.

[smartcode_project:default project_id=140747 project_image_fid=367529]

Smith by Valli sits in the heart of one of Melbourne’s most established retail and hospitality strips, within walking distance of venues such as Falco Bakery, Carnation Canteen and Alimentari, alongside parks and everyday services. With a Walk Score of 99, the location reinforces the project’s positioning toward buyers prioritising walkability and access over car dependency.

With only a limited number of residences, Smith reflects growing demand for smaller, highly curated apartment developments that prioritise design quality, liveability, and connection to neighbourhood character.

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Joel Robinson

Smith by Valli delivers a refined collection of luxury residences to Melbourne’s inner north

<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.

[smartcode_project:default project_id=509 project_image_fid=365684]

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.

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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.”

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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.

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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

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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SPONSORED POST
According to data from Accru.com, as at the end of May 2019, there are now over 326 ‘unicorn companies’ around the world and since January 2018, 119 new companies have joined the club.  
Unicorn companies are privately owned startups with a valuation of US$1 billion or more. These billion-dollar-babies owe their existence to huge amounts of venture capital.
Topping the 2019 list of Unicorns is China’s Bytedance, an Internet technology company delivering individually tailored news and media content with a $75 billion valuation. Uber is still the world’s second largest unicorn at $72 billion, with Chinese ride hailing competitor Didi Chuxing close behind at $56 billion. The USA still has the most number of unicorns (around half) followed by China with about a third. 
According to Christina Malcolm, Director, <a href="https://www.savills.com.au/services/commercial-leasing/office-leasing.aspx" target="_blank">Office Leasing at Savills Australia</a>, many global businesses, especially tech companies, are choosing to start their empire in a co-working environment, where there is room for expansion, flexible lease terms and competitive rents.
“The Sydney office market is seeing a shift in landlord behaviour – as they become further in tune with what their tenants want and need, offering flexible lease terms, not just in the co-working space but also within the REIT portfolio arena to help deal with expansion.” 
Ms Malcolm said today’s office environment needs to cater for this new age of workplace talent.
“Savvy agents and in turn, landlords are educating themselves about attracting Unicorn status groups and offering an office environment that suits these successful start-ups, technology, wellness, flexibility, location – retaining and attracting staff. 
Ms Malcolm said this is not just a CBD based trend, with a number of regional and interstate landlords breaking the mould and focusing on offering their tenants a better work/ life balance, while future proofing their buildings with inviting and flexible turn-key specs and wellness rooms. 
“Many new tenants are looking for a collaboration culture in their workplace with plenty of amenities and facilities that will keep their employees happy.
“The tenant community is definitely influencing the market,” she continued, “These companies are our future so they have to be aligned with the forward thinking landlord. 
“In a way, landlords are becoming more Chameleon-esque to fit in with the ever changing workplace terrain.
“Buildings are maturing, growing up. In years gone by they would cry (set off alarms) when things were wrong and it was up to the building‘s guardian (building managers) to work out what was wrong. Much like a toddler, buildings were incapable of explaining why they were crying. 
“But now buildings are young adults. Current buildings are akin to Unicorns’ favoured Gen I employees. They are smart, connected, able to communicate, not just advise what is wrong, but also how to fix it, they take the initiative and in some cases fix themselves. They even help write apps to make life easier, they let you, the user, bring your own device and hook it up to access its amenities like lifts, parking, meeting rooms, wellness spaces and end of trip facilities.
“Building owners are using this new found maturity and teaching their buildings to think for themselves by adding Integrated Communication Networks (ICNs) which are only limited by future technological advances”. 
These networks will allow buildings to grow as technology grows and is evidenced by Dexus’ investment in the Skynet platform and Investa’s work with Willow on its digital twin initiatives. 
With long-term retention of assets and tenants being their goal, the introduction of these systems improves the maintainability of the buildings and more importantly, provides options for the tenants to better connect with, customise and more efficiently utilise the building and its amenities.
Savills is a leading global real estate service provider offering the full spectrum of services from strategic advice to managing assets and projects and transacting deals. Christina Malcolm is a Director within Savills Office Leasing team. To learn more about Savills, visit <a href="http://www.savills.com.au/" target="_blank">savills.com.au</a>.
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Fantasy vs. Reality: How Unicorn Groups are influencing the market 

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A shop in the Hawthorn Lido Cinemas complex, Victoria has been leased.
Hungarian patisserie Kurtosh, the Sydney-based eatery, has leased the 112 sqm space within the Lido Cinemas complex on Hawthorn’s Glenferrie Road.
Fitzroys Associate Director Chris James negotiated the lease at $85,000 per annum net.
He said the straight 10-year lease signed by Kurtosh highlighted the faith retailers have in the area, and in the cinema complex’s positioning on the popular shopping strip.
Kurtosh is known for its kürtőskalács - spiral Hungarian pastries also known as chimney cakes, and a range of other cakes and pastries.
The patisserie has just opened its fourth Sydney location at the new Darling Square precinct in Haymarket.
Kurtosh will join Axil Coffee Roasters, Huxtaburger, frozen yoghurt group Yo-Chi and and Venetian bar and restaurant Vaporetto within the building.
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Hawthorn Lido Cinemas retail space leased to Hungarian patisserie

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Dual commercial assets in Cleveland have been sold in one line to a private Queensland-based family-owned development company.
The two assets, at Cleveland’s 74-80 Shore Street West, come with 3,098 square metre and 3,164 square metre site areas, offering a combined 1,528 square metre building area plus 500 square metre awning.
The properties were marketed and sold by Ray White Commercial Bayside Director Nathan Moore.
Mr Moore said it was the first time the properties had been offered to the market in over 40 years and they appealed to investors, developers and owner-occupiers.
There were more than 35 enquiries and seven offers made
Me Moore said, "it came down to two very close bidders, with the private Queensland-based family-owned development company coming out on top, and they already have plans sitting with Council."
“The interested parties were attracted to the properties primarily because of the tightly-held Cleveland retail showroom and services precinct location," he said.
The buyer paid $4,260,000 for the assets.
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wdavis-8cCN98p7xp

Dual Cleveland commercial assets sold after 40 years

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Two Potts Point CBD fringe retail chemists/pharmacies have been offered for lease.
One is at 4/81 Macleay Street, featuring 128 sqm of NLA.
The second is at 91 Darlinghurst Road (pictured above) with 100 sqm of NLA.
Dillon Frain and Nik Simonovic of Burgess Rawson are marketing the properties.
Although they are currently approved as pharmacies, it is noted in the marketing material that they may suit a wide variety of retail uses.<img src="https://www.urban.com.au/images/2019/10/28/Darlinghurst%20Road%20Chemist%202.JPG" alt="">
The Darlinghurst Road property, currently tenanted to Crest Hotel Chemist (pictured above) is located in close proximity to the Kings Cross station.
The Macleay Street holding is currently home to the Amcal Pharmacy, within the Ikon development.
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Two Potts Point pharmacies seek new lessors

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The entire retail component of The Mill Central Precinct's first mixed-use development has been sold.
Brocke Hambrecht of the Ray White Commercial Northern Corridor Group managed the sale. 
All units were purchased off-plan by southern investors.
The complex, comprising 28 residential units and five strata retail tenancies, is the first of its kind within the new Mill Central Precinct. 
Ray White Commercial Northern Corridor Senior Investment Analyst Ashley Rees believed this was a sign of a new trend in commercial investment for the region. 
Mr Rees said, "we expect to see more of this speculative investment into vacant properties.” 
“Competition is just too fierce for the traditional secure investments," he concluded. 
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Vacant investment development draws southern buyers to Queensland

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The Gardens Riverside Retail Portfolio at 28 Duncan Street in West End has been sold for $1,850,000. 
Offering 232sqm of NLA with a 3 year WALE, the sale represents a net initial yield of 7.60 per cent for the property in the lively inner-city suburb. 
The deal was negotiated by JLL’s Andrew Havig, and Sam Byrne. 
Featuring three leased retail tenancies in NightOwl, Table 26, and JLL, the property is situated on the ground floor of the Pradella Gardens residential tower within the Riverside West End precinct, walking distance from the Brisbane CBD. 
There was strong interest in the property according to JLL’s Andrew Havig. 
The successful purchaser was a NSW-based private investor. 
Another attractive aspect to the sale was the long-term secure cash flow underpinning the offering, as well as the fact that it is currently 100% occupied.
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Three Padella Gardens retail holdings sold in one line

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The Lendlease Real Estate Partners New Zealand fund is set to sell New Zealand’s premier retail portfolio.
The portfolio is expected to fetch a combined price in excess of NZ$350 million.
<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/2019/10/16/Christchurch.jpg" alt="">
The portfolio includes outlet centres Dress Smart Onehunga, Auckland (pictured top) and Dress Smart Hornby, Christchurch (pictured above), together with Meridian Mall (pictured below) - a retail asset in the centre of Dunedin’s CBD. 
The portfolio is being offered in one line. 
<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/2019/10/16/NZ%20Portfolio%201.jpg" alt="">
Colliers International and CBRE are managing the International Expressions of Interest campaign which commences in October 2019.
Each centre is the number one performer in its respective catchment. 
“We expect to receive significant interest from offshore investors, who will be drawn to the globally attractive initial yield, low acquisition costs and quality growth opportunities each city’s demographic offers,” Simon Rooney, CBRE Head of Retail Investments commented.
“Around the world, the outlet centre market is relatively small in terms of the number of centres and the number of investors and operators participating. Outlet centres have successfully closed the gap between full price retail and highly disruptive internet sales as they provide a level of investment diversification from traditional shopping centres,” said Mr. MacGillivray.
“This retail portfolio represents a ‘once in a generation’ opportunity to immediately dominate the outlet retail experience in New Zealand.”
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Lendlease selling NZ$350 million New Zealand retail portfolio

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Fortius has acquired Stockland’s Sydney lifestyle shopping centre, Cammeray Square, for $39.05 million reflecting a yield of 7%.
Cammeray Square services 1 million customers annually on Sydney’s Lower North Shore and is set over a 6,815 square metre corner site fronting Miller Street and Amherst Street.
The centre forms part of a mixed-use development comprising four buildings surrounding a central plaza, with retail tenancies situated on the ground floor, anchored by Harris Farm Markets and comprising 15 specialty shops and restaurants.
The upper levels are occupied by five commercial tenancies, including childcare operator, Only About Children, and a medical offering.
The fully leased site has a Weighted Average Lease Expiry (WALE) of 5.8 years by area.
Cushman &amp; Wakefield’s National Head of Retail Investments, Nick Potter, and Senior Executive, Billy Dent, managed the expressions of interest sale on behalf of Stockland.
The sale of Cammeray Square follows a number of other neighbourhood centre sales in New South Wales within mixed-use or potential mixed use sites brokered by Cushman &amp; Wakefield, including the sale of Abacus Property Group’s Liverpool Plaza shopping centre to a private development group for $46 million and, before that, the off-the-plan purchase of the Coles Crows Nest stratum in for $43 million.
Sam Sproats, Chief Executive Officer &amp; Executive Director, Fortius Funds Management Pty Ltd said: “The acquisition of Cammeray Square is consistent with the firm’s investment strategy of acquiring well-located innerurban retail and mixed-use assets underpinned by diverse income streams that are supported by strong and growing catchments."
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Stockland’s Cammeray Square, Sydney acquired by Fortius for $39 million

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EXPERT OBSERVER
I believe real estate markets are driven more by local factors than national ones. While many commentators are placing great significance on interest rate reductions as a prime driver of real estate markets, I’m much more interested in what’s going on the coalface of local economies. 
And, in those terms, I put a high rating on the Sunshine Coast as a market that investors of all kinds should be considering. I regard the Sunshine Coast as the strongest market in Queensland at the moment and indeed one of the strongest in Australia.
I see events happening there as an economic revolution, which is shifting the Sunshine Coast from tourist destination to international city – a massive transition that’s happened in the past 2-3 years and continues to happen.
I recently completed a comprehensive 30-page report called The Sunshine Coast: Australia’s Most Compelling Growth Story, in which I note that the Sunshine Coast economy was no longer predominantly reliant on tourism because of the creation in recent years of strong health, education and technology industries – all part of an infrastructure program totalling more than $20 billion.
Economies reliant on tourism traditionally fail to deliver sustainable real estate growth. But the Sunshine Coast has diversified and strengthened and is now, I think, the nation’s most compelling growth story.
It has a $17.7 billion economy, making it one of the largest regional economies in Australia, and on infrastructure it’s outspending several of the nation’s capital cities.
The health, education and technology sectors – including the new $5 billion health precinct - are bringing new residents to the Sunshine Coast and this is providing strong impetus to the real estate market, notably at the Top End. The median house price for Noosa Heads has increased 40% in the past three years, while the median apartment price has jumped 25% in the past year.
In terms of becoming an international city, the Sunshine Coast will soon have an international airport and an international broadband network connection to Asia. Earlier this year the Sunshine Coast was named in the Top7 Intelligent Communities of 2019 by the global Intelligent Community Forum, alongside major international cities like Chicago.
Central to everything that’s happening in the region is the creation of a Sunshine Coast CBD from the ground up – a $5 billion enterprise which is now under way on a 53ha greenfield site in central Maroochydore.
The new city centre has attracted investment from local, national and international firms interested having an early presence in the growing region.
The Sunshine Coast is among the top 10 leading regions in the country for employment generation, adding more than 20,000 jobs over the past five years. The $1.8 billion Sunshine Coast University Hospital (SCUH) has created 5,000 jobs since opening in April 2017 and the new Maroochydore City Centre is forecast to provide 15,000 jobs over the lifespan of the 20-year project and inject $4.4 billion into the economy. 
In addition, the Sunshine Coast International Broadband Network will deliver 800 new jobs once it’s operational next year and will deliver the fastest data connection to Asia from the east coast of Australia.
Part of the economic revolution of the Sunshine Coast in recent years has stemmed from the region’s growing reputation as an innovation and technology hub.
Demographer Bernard Salt has described the Sunshine Coast as “the entrepreneurship capital of Australia “because of the large number of knowledge-based start-ups and small businesses such as information technology, clean-tech, creative industries, aviation and education.
The population of the Sunshine Coast is forecast to reach 580,000 by 2041, an increase on the previous forecast of 558,000.
The Sunshine Coast is one of Australia’s fastest-developing economies, growing each year at rates well above national averages and is expected to expand to $33 billion by 2033.
As a consequence, our new Spring edition of The Price Predictor Index has found that the Sunshine Coast has more locations with rising sales activity than any other municipality in Australia. And that kind of outcome is likely to create sustainable long-term price growth.
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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terryryder-YECXbqmri2

Property investors should be considering the Sunshine Coast: Hotspotting's Terry Ryder

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GUEST OBSERVATION
Any moves to greatly increase the population of northern Australian by 2060 could have a devastating impact on the local environment without long-term careful planning by all tiers of government.
That’s the finding of <a href="https://tandfonline.com/doi/abs/10.1080/07293682.2019.1620302" target="_blank" title="The consequences of three urbanisation scenarios for northern Australia">research</a> that looked at several scenarios to increase the population of the north to 5 million people.
That’s an extra 3.7 million people, or an almost four-fold increase in the current population of northern Australia.
But, given the potential impact of climate change on northern Australia, we could see population movement the other way as people in the north head south.
Northern exposure
The region of Australia above the Tropic of Capricorn covers an area of 3,500,000km² – about 45% of Australia’s landmass – yet it houses only 5% of its population.
Proponents of development envisage extreme population growth because of the region’s growing geopolitical importance.
Northern Australia has <a href="https://adcforum.org/wp-content/uploads/2015/02/NDS14_report_web_sample.pdf" target="_blank" title="NORTHERN DEVELOPMENT Creating the future Australia">already been identified</a> as a “gateway to Asia”.
It’s also <a href="https://www.jstor.org/stable/j.ctt24h8n3" title="The Nature of Northern Australia: Its natural values, ecological processes and future prospects">described</a> as the largest intact “savanna remaining on Earth […] with a rich biodiversity of international significance”.
Current federal government planning for northern Australia is in the <a href="https://www.industry.gov.au/data-and-publications/our-north-our-future-white-paper-on-developing-northern-australia">Our North, Our Future</a> white paper, released in 2015.
The report adopts a pro-development stance, seeing the north as a place of economic bounty and opportunity.
While it is mute on issues of settlement patterns, there are statements that allude to the government’s support for significant urbanisation:
We need to lay the foundations for rapid population growth and put the north on a trajectory to reach a population of four to five million by 2060.
The white paper also refers to “the development of major population centres of more than a million people”. Such cities would be around six times the size of the current largest northern city of Townsville, <a href="https://quickstats.censusdata.abs.gov.au/census_services/getproduct/census/2016/quickstat/UCL303004?opendocument">population about 180,000</a>.
Three plans for growth
Given the existing city planning documents do not countenance the scale of population growth projected in the white paper, we developed three scenarios for how the federal government could distribute this northern Australian population of 5 million by 2060.
<ul>
<li>Scenario 1: Growth</li>
</ul>
<a href="https://images.theconversation.com/files/298027/original/file-20191022-56220-fspunk.png?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=1000&amp;fit=clip"><img src="https://images.theconversation.com/files/298027/original/file-20191022-56220-fspunk.png?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=754&amp;fit=clip" alt=""></a>
Scenario 1: Growth. Julian Bolleter, Author provided
Economic and lifestyle factors concentrate the increased population in the four dominant northern cities of Darwin, Cairns, Townsville and Mackay. Each would have populations of more than a million by 2060.
<ul>
<li>Scenario 2: Decentralised Growth</li>
</ul>
<a href="https://images.theconversation.com/files/298028/original/file-20191022-56198-16qw0fx.png?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=1000&amp;fit=clip"><img src="https://images.theconversation.com/files/298028/original/file-20191022-56198-16qw0fx.png?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=754&amp;fit=clip" alt=""></a>
Scenario 2: Decentralised Growth. Julian Bolleter, Author provided
The populations of Port Hedland, Broome, Kununurra, Darwin, Cairns, Bowen, Townsville and McKay will each increase by 462,000 people.
<ol>
<li>Scenario 3: Concentrated Growth</li>
</ol>
<a href="https://images.theconversation.com/files/298029/original/file-20191022-56242-1q6fv76.png?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=1000&amp;fit=clip"><img src="https://images.theconversation.com/files/298029/original/file-20191022-56242-1q6fv76.png?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=754&amp;fit=clip" alt=""></a>
Scenario 3: Concentrated Growth. Julian Bolleter, Author provided
Economic opportunities see northern Australia’s growing population concentrated in Darwin, which would grow by 1.5 million people by 2060.
This figure is in line with the Australian government’s vision of northern cities with “more than a million people”.
The fate of the north
Irrespective of the scenario, our findings show population growth will not be good for the local environment without any overarching long-term planning frameworks to steer urbanisation.
This is particularly the case for scenarios 1 and 3 where the required increase in urban area either outstrips, or is only just commensurate with, the availability of cleared land adjacent to Darwin, Cairns and Townsville.
As such, population growth at the scale proposed by the white paper could result in substantial destruction, degradation and fragmentation of peri-urban ecosystems – where urban meets rural – by urban development and expanding road networks.
<a href="https://images.theconversation.com/files/298034/original/file-20191022-56228-1mcel56.jpeg?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=1000&amp;fit=clip"><img src="https://images.theconversation.com/files/298034/original/file-20191022-56228-1mcel56.jpeg?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=754&amp;fit=clip" alt=""></a>
Scenario 1: Growth for Darwin. Julian Bolleter, Author provided
In Darwin’s case, in Scenario 1 the additional 925km² of urbanisation required would sprawl south of the city in a corridor to as far as Humpty Doo (1) and down to Acacia Hills (2).
<a href="https://images.theconversation.com/files/298033/original/file-20191022-56215-1cto1wd.jpeg?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=1000&amp;fit=clip"><img src="https://images.theconversation.com/files/298033/original/file-20191022-56215-1cto1wd.jpeg?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=754&amp;fit=clip" alt=""></a>
Scenario 1: Growth for Townsville. Julian Bolleter, Author provided
In Townsville, in Scenario 1 for growth, the additional 925km² of urbanisation would result in sprawling along the coast and around the existing centres of Giru (1) and Woodstock (2), and around Mount Surround (3).
While Townsville has 957km² of cleared land and theoretically could just accommodate this growth, it is likely to cause extensive damage to the local environment through land degradation and fragmentation by urban development.
<a href="https://images.theconversation.com/files/298035/original/file-20191022-56224-1294zua.jpeg?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=1000&amp;fit=clip"><img src="https://images.theconversation.com/files/298035/original/file-20191022-56224-1294zua.jpeg?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=754&amp;fit=clip" alt=""></a>
Scenario 3: Concentrated Growth for Darwin. Julian Bolleter, Author provided
In Darwin, with Scenario 3 and concentrated growth, the urban expansion required for the city is 1,500km². This would dwarf the city’s 296km² of developable land and result in substantial clearing of remnant vegetation.
Proper planning required
Clearly then, if the scale of population growth envisaged in the white paper occurs without any comprehensive planning, the result will be harmful for the north.
To avoid this fate we need a bipartisan settlement strategy (most closely resembling Scenario 2) to steer the urbanisation of northern Australia.
Policymakers and planners should develop this strategy based on a comprehensive landscape analysis of northern Australia. If the scale of population growth envisaged in the white paper occurs without such planning, the result will be ruinous for one of the world’s last great wildernesses.
But the federal government should also decide whether a population of 5 million in the north is something we should aspire to at all.
If the worst climate change projections are borne out, we could end up with migration from cities such as Darwin to cities further south, even into the southern states.<img src="https://counter.theconversation.com/content/125063/count.gif?distributor=republish-lightbox-basic" alt="The Conversation" width="1" height="1" style="border: none !important; box-shadow: none !important; margin: 0 !important; max-height: 1px !important; max-width: 1px !important; min-height: 1px !important; min-width: 1px !important; opacity: 0 !important; outline: none !important; padding: 0 !important; text-shadow: none !important;">
Julian Bolleter<a href="https://theconversation.com/profiles/julian-bolleter-292111"></a>, Deputy Director, Australian Urban Design Research Centre, <a href="http://theconversation.com/institutions/university-of-western-australia-1067" target="_blank">University of Western Australia</a>.
This article is republished from <a href="http://theconversation.com" target="_blank">The Conversation</a> under a Creative Commons license. Read the <a href="https://theconversation.com/you-cant-boost-australias-north-to-5-million-people-without-a-proper-plan-125063" target="_blank">original article</a>.
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