<p><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.</p>

<p>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.</p>

<p>[smartcode_project:default project_id=140747 project_image_fid=367540]</p>

<p>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.</p>

<p>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.</p>

<p>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.</p>

<p>[smartcode_project:default project_id=140747 project_image_fid=367529]</p>

<p>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.</p>

<p>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.</p>

<p>[smartcode_project_cta:default project_id=140747]</p>


Joel Robinson

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

<p><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;</p>

<p>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.</p>

<p>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.</p>

<p>"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.</p>

<p>[smartcode_project:default project_id=509 project_image_fid=365684]</p>

<p>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.</p>

<p>Unlike traditional CBD developments that prioritised investor stock, 640 Bourke Street has been repositioned to respond to changing buyer expectations.</p>

<p>"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;</p>

<p>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;</p>

<p>“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;</p>

<p>[smartcode_project:default project_id=509 project_image_fid=365687]</p>

<p>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;</p>

<p>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.</p>

<p>"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.</p>

<p>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.</p>

<p>[smartcode_project:default project_id=509 project_image_fid=365689]</p>

<p>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.</p>

<p>"We believe it's the best site left in the city of Melbourne," Craig Williams, Executive Director at Far East Consortium, said.&nbsp;</p>

<p>640 Bourke Street is Far East Consortium’s 14th building in Melbourne’s western CBD.</p>

<p>"A very elegant designed building. It's going to be a Melbourne statement for many, many years to come."</p>

<p>One-bedroom apartments are priced from around $640,000, with 640 Bourke Street targeting completion in 2029.</p>

<p><em>Renders shown are Artist's Impressions correct as of May 2026.</em></p>

<p>[smartcode_project_cta:default project_id=509]</p>


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

<p><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.</p>

<p>The sale equates to around $37,500 per sqm.</p>

<p>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.</p>

<p>Selling agent Freddie Tehle of PRD Burleigh Heads said the result reflects tightening supply of high-quality, large-format apartments in Burleigh.</p>

<p>“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.</p>

<p>“Buyers are increasingly seeking apartments that genuinely replace a standalone home, and this penthouse delivers that with its size, privacy, and direct ocean frontage.”</p>

<p>[smartcode_project:default project_id=146358 project_image_fid=323057]</p>

<p>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.</p>

<p>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.</p>

<p>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.</p>

<p>“Real estate, particularly at the premium end, remains one of the most resilient and proven long-term investment avenues,” Mould said.</p>

<p>“Our ambition is that anyone who buys a MAYD-built product can genuinely feel the care, craftsmanship and commitment we bring to every detail.”</p>

<p>[smartcode_project:default project_id=146358 project_image_fid=323055]</p>

<p>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.</p>

<p>Interior designer Sici Design said the approach was to reflect the project’s coastal setting through both materiality and spatial planning.</p>

<p>“ONE Burleigh is our vision of luxury living, designed to bring the essence of Burleigh Heads' vibrant coastal beauty into an unparalleled residential experience.”</p>

<p>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.</p>

<p>[smartcode_project:default project_id=146358 project_image_fid=323052]</p>

<p>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.</p>

<p>Mould said the design intent was to balance that outlook with a sense of retreat.</p>

<p>“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.”</p>

<p>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.</p>

<p>[smartcode_project_cta:default project_id=146358]</p>


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

<p>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.</p>

<p>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.</p>

<p>[smartcode_project:default project_id=110588 project_image_fid=5346]</p>

<p>It was a strategic move for BIG Projects to bring in a Sydney eye to the development.</p>

<p>“Our role is to give our design partners the space and freedom to explore,” says Matt Barrett, Director of BIG Projects.</p>

<p>“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.”</p>

<p>There are only 39 apartments in The Frederick, including a striking beach house, just 100 metres from the booming Nobby Beach precinct.&nbsp;</p>

<p>[smartcode_project:default project_id=110588 project_image_fid=5347]</p>

<p>Yasmine Ghoniem, Director of YSG Studio, says their vision&nbsp;for The Frederick "reinvents coastal living."</p>

<p>“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.</p>

<p>"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.”</p>

<p data-end="236" data-start="64">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.</p>

<p>[smartcode_project:default project_id=110588 project_image_fid=5360]</p>

<p data-end="523" data-start="308">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.</p>

<p data-end="670" data-start="525">“The rooftop was conceived as a collection of spaces where residents can unwind and connect, an extension of the Nobby’s lifestyle,” Barrett says.</p>

<p data-end="760" data-start="672">Architecture for the project was led by Plus Studio, with landscape design by LDG Landscape Architecture.</p>

<p data-end="951" data-start="762">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.</p>

<p data-end="951" data-start="762">"They’ve reviewed a number of projects, however this one has stood out for its unique detailing and compelling design,"&nbsp;Clydsdale says.</p>

<p data-end="951" data-start="762">Site demolition is slated for this month, with construction commencing soon after. BIG Projects is targeting a late 2027 completion.</p>

<p>[smartcode_project_cta:default project_id=110588]</p>


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

<p>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;</p>

<p>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;</p>

<p>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;</p>

<p>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;</p>

<p>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;</p>

<p><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" /></p>

<p>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;</p>

<p>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;</p>

<p>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;</p>

<p>ALTA Property was launched by Nigel Givoni in 2023, bringing over 25 years of experience in multi level residential delivery.&nbsp;</p>

<p>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;</p>

<p><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" /></p>

<p>For ALTA Property Founder Nigel Givoni, this performance speaks to the confidence he has in the Melbourne market.&nbsp;</p>

<p>“Queens Road represents a rare opportunity to continue to shape our presence in the Melbourne market.,"&nbsp;Givoni says.</p>

<p>"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.</p>

<p>“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."</p>

<p>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.</p>

<p>"We are really looking forward to the market’s response,” he said.&nbsp;</p>


ALTA Property to deliver $200 million Queens Road apartment tower

<p>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.</p>

<p>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;</p>

<p>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.</p>

<p>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.</p>

<p>Even in the low seasons of May and June, occupancy levels reach around 40 per cent.</p>

<p><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" /></p>

<p>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</p>

<p>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.</p>

<p><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" /></p>

<p>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.<span><span><span><span><span><span><span><span><span><span><span><span><span><span><span><span><span><span><span><span><span><span><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" /></span></span></span></span></span></span></span></span></span></span></span></span></span></span></span></span></span></span></span></span></span></span><span><span><span><span><span><span>​</span></span></span></span></span></span></p>

<p>The apartments will feature modern amenities and contemporary designs with expansive windows capturing sweeping views of The Remarkables mountain range.&nbsp;</p>

<p>Interiors are equipped with modern finishes, premium appliances, and secure electronic key-locked doors, ensuring a comfortable living experience for residents and guests alike.</p>

<p>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;</p>

<p>Queenstown’s sustained demand for visitor accommodation and rental properties is underpinned by a shortage of housing options, attracting both local and international buyers.</p>


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

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<p>Nissan Motors has been secured as the anchor tenant for Frasers Property Australia (Frasers Property) and ESR Australia (ESR1) newly purchased Mulgrave site</p>
<p>The 4.67 acre 254 Wellington Road site has received planning approval for 60,000 sqm of commercial space, a 752 sqm café/retail area and 2,497 car spaces.</p>
<p>A community hub is also envisaged incorporating a gymnasium, restaurant and activated outdoor open space.</p>
<p>The business park is expected to have an end value of A$400 million when completed.</p>
<p>Anthony Maugeri, General Manager, Southern Region Commercial &amp; Industrial, for Frasers Property Australia stated, “Frasers Property, in joint venture with ESR, previously developed 211 Wellington Road with a strong track record in attracting major corporates to the area. </p>
<p>"We plan to develop a state-of-the-art business park and are eager to deliver industry-leading amenity on the site to assist in attracting large commercial occupiers,”he said.</p>
<p>Phil Pearce, Chief Executive Officer at ESR Australia said, “This is an exciting project for ESR and Frasers Property as we commence a large-scale business park development in Melbourne’s south-east. We are seeing Mulgrave emerge as a growing suburban commercial office market"</p>
<p>Nissan Australia’s Managing Director Stephen Lester said, “Our current office was officially opened in June 1977, so over the 40 plus years that we have based ourselves here it has served us well, but we have grown as a business since then."</p>
<p><img src="https://www.urban.com.au/images/2019/6/14/Nissan%202.JPG" alt=""></p>
<p>Nissan Australia’s 11,000 sqm facility will be spread across five levels (including ground level) of the 8 level building and will comprise over 9,000 sqm office, 1,850 sqm workshop and 550 car bays.</p>
<p>The new building, situated on the corner of Wellington Road (60 metre frontage) and Peters Avenue will achieve a 5 Star Green Star Design &amp; As Built v1 certified rating from the Green Building Council of Australia.</p>
<p>The joint venture is a 50:50 split between Frasers Property and ESR. Frasers Property secured the 245 Wellington Road site, while ESR will undertake the development. Nissan Australia’s building is anticipated to be completed by May 2020 while the entire development is forecast for completion by late 2025.</p>
<p>Practical completion of the facility is due in May 2020.</p>
<p>Andrew Peak, Gianni Macdonald and Stephen Adgemis from CBRE brokered the Nissan transaction.</p>
<p>Rob Joyes from Colliers International brokered the 254 Wellington Road acquisition.</p>
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j.ballantyne1990-6AQqhLzZaK

Nissan to anchor Frasers Property and ESR's newly purchased Mulgrave site

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<p>A 150 square metre commercial property located just metres from Toorak Road in the heart of the Toorak Village has been listed for sale. </p>
<p>Raoul Salter and Michael Gross from Gross Waddell have the listing. </p>
<p>Situated on a 90 square metre block in a corner location, the property at 60 Ross Street include 1+1 year lease term from November 2018. </p>
<p><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/2019/6/13/toorak%202.jpg" alt=""></p>
<p>It has been leased to Alpha Chiropractic for $39,922 per annual. </p>
<p>It was marketed as having "great bones."</p>
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Toorak Village commercial space leased to chiropractor for sale

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<p>The award winning Captains Retreat B&amp;B at Williamstown has hit the market with $2.75 million to $3 million hopes.</p>
<p>It has been offered by Kaye Gerlach from Pagan Real Estate Travancore. </p>
<p>Originally named Britanica, the house at<a href="https://www.realestate.com.au/property-house-vic-williamstown-131289062" target="_blank"> 2 Ferguson Street</a> was built as a single four room cottage in 1862 and then extended in 1880 for a ship Captain and his family.</p>
<p>The Captains Retreat B&amp;B won the Hobson Bay Business Excellence Awards five times since 2011. </p>
<p> </p>
<p>The renovated house features a flexible floor plan including seven bedrooms, eight bathrooms, three living rooms, two kitchens, and a separate manager's apartment. </p>
<p><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/2019/6/5/williamstown%203.jpg" alt=""></p>
<p>Situated on a 421 square metre allotment, it comes with a large north-facing rear deck, walled garden, and rear vehicle access via both real and side laneway. </p>
<p>It is also suitable for business premises, B&amp;B, restaurant, cafe or separate apartments. </p>
<p>To spend the night costs $180 - $295 depending on the length of the stay and the number of people.</p>
<p>The expressions of interest campaign for the property ends June 26th. </p>
<p><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/2019/6/5/williamstown%202.jpg" alt=""></p>
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Williamstown's Captains Retreat B&B hits the market

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<p><span>A fully-tenanted commercial investment at </span><a id="LPlnk131032" href="http://ecomms.raywhite.com/collect/click.aspx?u=jRYOrR8N39R+6hBQZ7yXMt0Z3VIjNMZGYZ9AJxvuvdkNII7lm4eJwDcXJgdMTOUQ7l8a5O1Fa9c=&amp;rh=ff004b55ab2124e4ad6066184c4c855d12713ed1" target="_blank" rel="noopener noreferrer" data-auth="NotApplicable">2053-2059 Moggill Road</a><span> in Kenmore, Brisbane has been listed for sale.</span><br><span> </span><br><span>The property comprises two adjoining, refurbished buildings and is targeted at a new owner wanting a ‘set and forget’ investment.</span><br><span> </span><br><span>Opposite the Kenmore School and adjacent to council’s Park ‘n’ Ride facility, these two traffic generators ensure a continuous flow of foot-traffic past the retail tenancies.</span><br><span> </span><br><span>The asset is marketed by Ray White Commercial Queensland Retail Sales father and son duo Stephen and Elliot Kidd.</span><br><span> </span><br><span>Mr Stephen Kidd said the multi-tenanted site provided a diversified income stream with a WALE of 3.5* years.</span><br><span> </span><br><span>“The complementary tenancy mix combined with long-term tenants, some having occupied the space for up to 18 years, will particularly appeal to potential buyers,” he said.</span></p>
<p><span><span>“The tenants in-place are Brisbane West Real Estate (BWRE), Spicy Affair Restaurant, Melrose-Keys Lawyers, Masala Café and Australian Pet Welfare Foundation.</span><br><span> </span><br><span>“The property provides a strong, multi-sourced income stream, and will be sold for less than $5 million.</span><br><span> </span><br><span>“All tenancies at the site, except for BWRE, have been extensively refurbished in recent times and the precinct underwent a major council upgrade of footpath and landscaping.</span><br><span> </span><br><span>“It’s a great opportunity for an astute investor to secure an income underpinned by security bonds and directors guarantees.”</span></span></p>
<p><span><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/2019/5/9/kenmore%202.jpg" alt=""><br><span> </span><br><span>Mr Elliot Kidd said Kenmore was an affluent suburb of Brisbane and is within the highly sought-after ‘middle ring’ and was only 9km south-west of the CBD.</span></span></p>
<p><span>“Kenmore Village is also currently undergoing expansion work so it’s a great time for a buyer to invest in the Kenmore suburb," he said.</span><br><span> </span><br><span>“It has an average income nearly 65 per cent above the Queensland average, so it’s no surprise that over 80 percent of dwellings are owner-occupied.”</span></p>
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Fully tenanted commercial property for sale in Brisbane's Kenmore

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<p>EXPERT OBSERVER</p>
<p>Last month we said that there was seemingly something for everyone in the latest labour force data. And the same conclusion can be made again.</p>
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<p>There was good job growth in the month, albeit focused on part-time jobs.</p>
<p>The jobless rate didn’t budge. But the proportion of working age Aussies in the job market (participation rate) hit record highs.</p>
<p>Admittedly the data covered the election period and that may account for the skew to part-time workers.</p>
<p>Clearly there are temporary jobs created each three years for election-related roles.</p>
<p>A big question for the Reserve Bank is whether it believes that lower interest rates can truly drive the national jobless rate to 4.5 per cent or whether structural factors will impede progress.</p>
<p>NSW, Victoria, the ACT and the Northern Territory have jobless rates of 4.6 per cent or lower but next best is South Australia at 5.7 per cent.</p>
<p>So the ball is back in the Reserve Bank’s court. We know that interest rates are being driven by the job market.</p>
<p>So does the Reserve Bank follow the June rate cut with another move in July or does it wait a little longer – perhaps August after the late July inflation data?</p>
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<div class="column">We continue to favour August for the next rate cut. There certainly is no rush.</div>
<div class="column"> </div>
<div class="column">The economy lost momentum late in 2018/early in 2009 due to the US-China trade stoush. Other countries have similarly experienced softer growth.</div>
<div class="column"> </div>
<div class="column">Australia has also experienced slower growth in 2019 as both businesses and consumers awaited the election result.</div>
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<div class="column">With a clear election result obtained, the economy should gain pace from here.</div>
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<div class="column">The Reserve Bank doesn’t seem to see any barriers to further rate stimulus.</div>
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<div class="column">‘Full employment’ is now defined as a jobless rate near 4.5 per cent. And inflation is set to stay at lower levels for longer.</div>
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<div class="column">That assumption was backed by today’s data showing plunging airfares in June.<br><p>Certainly stimulus is coming from lower interest rates, the minimum wage decision, the upcoming tax cut and some loosening of home lending policy from the regulators.</p>
<p>A lower Aussie dollar is also supporting activity in the economy. Sydney home prices have lifted 0.3 per cent from recent lows with Melbourne prices up 0.2 per cent.</p>
<p><strong>What do the figures show?</strong></p>
Employment rose for the 12th straight month, up by 42,300 in May after a revised 43,100 increase in jobs in April (previously reported as a 28,400 increase in jobs).</div>
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<div class="column">Full-time jobs rose by 2,400, but part-time jobs rose by 39,800. Economists had tipped an increase in total jobs of around 15,000.</div>
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<div class="column">Annual job growth rose from 2.5 per cent to a 14-month high of 2.9 per cent (decade average 1.7 per cent).<br><p>Hours worked fell by 0.3 per cent in the month to be up 2.1 per cent over the year. In trend terms, hours worked rose 0.2 per cent to be up 2.5 per cent on the year.</p>
The unemployment rate was steady at 5.2 per cent in seasonally adjusted terms. In trend terms the jobless rate was steady at 5.1 per cent.</div>
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<div class="column">The participation rate rose from 65.9 per cent to a record high of 66.0 per cent. In trend terms the participation rate rose from 65.8 per cent to a record high of 65.9 per cent.</div>
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<div class="column">Unemployment across states in May: NSW 4.6 per cent (April 4.6 per cent); Victoria 4.6 per cent (4.8 per cent); Queensland 6.2 per cent (5.9 per cent); South Australia 5.7 per cent (6.1 per cent); Western Australia 6.3 per cent (6.1 per cent); Tasmania 6.4 per cent (6.8 per cent). In trend terms, Northern Territory 4.5 per cent (4.5 per cent); ACT 3.9 per cent (3.8 per cent).</div>
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<br>State/Territory jobs: In seasonlly adjusted terms, the largest increase in employment was in New South Wales (up 38,500 persons), followed by Victoria (up 28,600 persons) and Queensland (up 7,800 persons).</div>
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<div class="column">The only decrease were in Western Australia (down 4,000 persons) and Tasmania (down 400 persons)</div>
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<div class="column">The working age population rose by 26,000 in May to 20.56 million.</div>
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<div class="column">Over the year the working age population rose by 356,100 – a 91⁄2-year high – or 1.76 per cent, but this is still down from the record 2.36 per cent annual growth in December 2008.</div>
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<div class="column">The monthly trend underemployment rate increased 0.1pt to 8.5 per cent. The monthly trend underutilisation rate increased 0.1pt to 13.6 per cent.<br><p>The monthly seasonally adjusted underemployment rate increased 0.1pt to 8.6 per cent. The monthly underutilisation rate remained steady at 13.7 per cent.</p>
<p><strong>Domestic airfares</strong></p>
Business class airfares fell by 0.2 per cent in June after falling by 1 per cent in May. Business class airfares are down 9.6 per cent on a year ago – falling at the fastest annual rate in six years.</div>
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<div class="column">And the actual fares stand at the lowest level in four years. In smoothed terms, business class airfares fell by 1.3 per cent in June to be down 9.3 per cent on the year.</div>
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<div class="column">Discount airfares are volatile month-to-month. In June, fares rose by 15.2 per cent after falling by 25.9 per cent in May.</div>
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<div class="column">Discount airfares are down 5.9 per cent over the year to June. In smoothed terms, discount airfares fell by 1.9 per cent in June to be down 3.1 per cent on the year – the biggest fall in the annual growth rate in three years. Fares are the lowest in two years.</div>
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<div class="column">Restricted economy airfares rose by 0.7 per cent in June after falling by 0.5 per cent in May. In smoothed terms, restricted economy fares rose just 0.2 per cent in June to be up by 5.3 per cent on the year.</div>
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<div class="column"><strong>Why is the data important?</strong></div>
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<div class="column">The Labour Force estimates are derived from a monthly survey conducted by the Bureau of Statistics.</div>
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<div class="column">The population survey is based on a multi-stage area sample of private dwellings (currently about 22,800 houses, flats, etc.) and a sample of non-private dwellings (hotels, motels, etc.).</div>
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<div class="column">The survey covers about 0.24 per cent of the population of Australia and includes all people over 15 years of age, except defence personnel.</div>
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<div class="column">If more people are employed, then there is greater spending power in the economy. But at the same time companies may adjust the work hours of employees.</div>
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<div class="column">If employees work less hours, and therefore get paid less, then spending power in the economy is reduced.</div>
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<div class="column">The Bureau of Infrastructure, Transport and Regional Economics (BITRE) releases data on domestic and international aviation each month.</div>
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<div class="column">The data is useful in tracking consumer spending and airline performance as well as broader economic activity.</div>
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<div class="column"><strong>What are the implications?</strong></div>
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<div class="column">CommSec is pencilling in another rate cut for August.</div>
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<div class="column">But we are looking for significant debate about whether there is value in cutting rates much further.</div>
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<div class="column">The southeastern corner of Australia is arguably at or near full-employment. But there is a huge gap to the other states.</div>
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<div class="column">The Reserve Bank Governor has a super-important speech in a week’s time: “The Labour Market and Spare Capacity”. Aussies will be hanging on every word.</div>
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<p><span><em>Craig James is the chief economist at <a href="https://www.comsec.com.au/default.aspx" target="_blank">CommSec</a>.</em> </span></p>
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Australia's two-speed job market: CommSec's Craig James

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<p><span>EXPERT OBSERVATION</span></p>
<p><span>The Australian Institute of Architects has welcomed the incoming Morrison government’s acknowledgement of the importance of housing and urban policy and infrastructure, as it renewed its call for a focus on building safety, sustainability and effective design.</span></p>
<p><span>With the introduction of a dedicated Minister for Housing – the Assistant Treasurer Michael Sukkar – and the elevation into Cabinet of the Minister for Population, Cities and Urban Infrastructure - Alan Tudge - the Institute said it highlighted the critical nature of these policy areas for the health, wellbeing and quality of life of all Australians.</span> </p>
<p><span>The Institute has also applauded the creation of an Assistant Ministry for Community Housing, Homelessness and Community Services, under the leadership of Luke Howarth, in light of Australia’s affordable and social housing challenges. </span> </p>
<p><span>A focus on sustainability is also to be commended, with the appointment of Minister for Energy and Emissions Reduction Angus Taylor.</span></p>
<p><span>Australia’s growth challenge should generate benefits for the country if met with planned and well-integrated solutions.</span> </p>
<p><span>We welcome the focus on cities and housing as key areas that with considered policy, design and delivery can create real impact for everyday Australians.</span> </p>
<p><span>The importance of planning and the interconnection of infrastructure and housing solutions </span><span>is well understood by architects, who work across scales and devise solutions to these complex issues in their daily practice.</span></p>
<p><span>This is the key to creating integrated, effective cities where all people can benefit– if we get it right.</span></p>
<p><span>In the lead-up to the election, the Institute had called for the integration of housing with infrastructure services and the strengthening of the role of the Minister for Cities.</span></p>
<p><span>We look forward to working with Minister Tudge in his expanded role. </span></p>
<p><span>We will continue to push for design and sustainability benchmarks and a national architecture policy in urban policy.</span></p>
<p><span>The Institute has worked collaboratively with these Ministers in their previous roles and looks forward to engaging with them and other Ministers again to build effective policies for the Australian future.</span></p>
<p><span>The Institute will continue to push for increased safety measures for the building and construction industry, in line with the Shergold Weir <em>Building Confidence</em> report last year, to maintain the integrity of our national standards.</span></p>
<p><span>Nationally consistent building standards can also generate strong carbon emissions reductions – the Australian Sustainable Built Environment Council estimates development and construction could drive up to 28 per cent of the nation’s 2030 target – and the Institute will continue to support decarbonisation across industries.</span> </p>
<p><span>Ongoing action on climate change through a plan for net zero carbon buildings by 2040, and fair and open procurement policies are also key priorities for the Institute.</span></p>
<p><span>As the new government sets it priorities for the term ahead, the Institute will continue its work to create solutions for Australia’s built environment that benefit the communities, while championing our professionals and effective design.</span></p>
<p><em>Professor Helen Lochhead is the National President of the Australian Institute of Architects</em></p>
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Housing and urban focus welcome in new ministry: Helen Lockheed 

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<p>The Sunshine Coast has reached the peak of market position on the HTW commercial office property clock for June, according to valuation firm Herron Todd White latest report.</p>
<p>HTW also stated that both Melbourne and South East NSW both remained in the peak position.</p>
<p>Meanwhile the Mid North Coast dropped a notch to the starting to decline market position, joining Gold Coast, Lismore and Coffs Harbour.</p>
<p>Echuca and Alice Springs have remained unmoved in the declining market position. While South West WA remains near the bottom of the market.</p>
<p>Three capital cities remained in a bottom of the market position, Darwin, Perth and Hobart.</p>
<p>They are joined by Cairns, Gladstone, Launceston, Mackay Rockhampton and Townsville.</p>
<p>Click <a href="https://www.propertyobserver.com.au/images/2019/6/7/June%20Office%20Clock%20HTW.JPG" target="_blank">here</a> to enlarge.</p>
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<p>Emerald and Toowoomba have joined Adelaide and Mildura in the start of recovery position.</p>
<p>Ballarat held steady as a rising market while Sydney, Brisbane and Geelong are a notch above in the approaching peak of market position.</p>
<p>The HTW report authors said, "Commercial real estate had mixed results across the country in the past six months, but among the options for buying in this sector, office holdings are considered one of the safer choices."</p>
<p>"That said, not all office markets are the same."</p>
<p>"This month’s submissions paint a picture of varying performance so far this year," they concluded</p>
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Sunshine Coast's office market reaches peak of market: HTW June Office Clock

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<p>Luxcon Group has confirmed that Harris Farm Markets will be the anchor tenant of their $75 million Rose Bay development The Aristocrat of Rose Bay</p>
<p>Construction on The Aristocrat is underway and on track for completion in early 2020.</p>
<p>Occupying the full ground floor, the store will serve as the backbone to the emerging Rose Bay Village precinct along Old South Head Road.</p>
<p>Alongside this announcement a further selection of residences within The Aristocrat at <a href="http://www.biller.com.au/4431518/" target="_blank">62A Dover Road</a> have been released. </p>
<p>A number of apartments in the project have been sold since the launch in late 2018, including one of three luxury penthouses.</p>
<p>Designed by PBD Architects, and the second in Luxcon’s ‘Limited Edition Collection’ portfolio, The Aristocrat of Rose Bay features 24 two and three bedroom residences and penthouses. </p>
<p>The two bedroom apartments come with one parking space and are being offered at the <span>$1.85 million price point, while the three bedroom apartments which come with two parking spaces are being offered for around <span>$3.5milliion</span></span></p>
<p>The residential facilities on offer include, a sparkling lap pool, relaxation cabanas and landscaped garden with outdoor exercise area. </p>
<p>Managing Director of Luxcon Group, Ilya Melnikoff, said, “the Aristocrat is offering the complete luxury lifestyle package in a unique development."</p>
<p>"I think it will change the face of this neighbourhood village and hope will create precedent to what streetscape should look like in terms of quality of architecture."</p>
<p>Selling agent Paul Biller said he's confident that The Aristocrat will become one of the most sought-after addresses "not just in Rose Bay but in Sydney”</p>
<p>Luxcon are currently offering a virtual reality experience at their display suite, this offers clients the ability to 'walk around' their future home.</p>
<p>A <a href="https://www.propertyobserver.com.au/https://vimeo.com/338591867" target="_blank">teaser</a> of the virtual reality experience is also available, <em>(Password: lux123)</em>.</p>
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Harris Farm Markets to anchor The Aristocrat in Rose Bay

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<p>With Sydney CBD office vacancy tightening to 4.1% as of January, CBD office rentals have continued to drastically increase over the past two years and remain at record highs, according to the latest Commercial Property Market Report from Herron Todd White.</p>
<p>The property valuation firm found, owner-occupiers remained the dominant market participants when it comes to strata office stock, as they attempt to reduce their occupancy costs and invest in what is anticipated to remain a strong market into the foreseeable future.</p>
<p>The combination of owner-occupiers looking to secure office assets combined with the lack of available stock on the market has seen capital values for B and C grade strata office stock continue to increase, with building records continuing to be commonplace.</p>
<p>HTW analysts noted Noonan Property’s April 2019 sale of the 95 square metre Suite 202 at 234 George Street for $1.585 million (reflecting $16,684 per square metre of lettable area) to an owner-occupier who had apparently missed out on a number of other suites in previous weeks highlights the strength of the market force of owner-occupiers."</p>
<p>"Prior to this sale, the last suite to sell in this building and a superior overall asset was the 110 square metre Suite 802, which sold in March 2018 for $1.66 million, reflecting $15,091 per square metre."</p>
<p>"We anticipate owneroccupiers will remain the driving force of values for strata stock throughout the CBD for the foreseeable future, with rents anticipated to remain strong and supply remaining at a minimum in the short term," they said.</p>
<p>With completion of the Wynyard upgrade and Light Rail project along George Street progressing, construction noise beginning to reduce and hoardings starting to be removed, the future of Wynyard and George Street is beginning to take shape.</p>
<p>They consider the face lift to both Wynyard and the overall streetscape of George Street (along with the obvious transformation in accessibility through the CBD) will only further increase the appeal of offices in these precincts.</p>
<p>The southern precinct of the CBD is also anticipated to benefit from increased accessibility following the opening of the Light Rail, seeing the precinct become fully integrated into the prime CBD areas. With vacancy at 6.9% as at January 2019 (source: Property Council Australia) and rents significantly lower than those of the city core, the southern precinct shows the most potential for growth over the short term.</p>
<p>The valuers noted, "outside of the CBD, Parramatta remains the best performing secondary CBD in the country, with vacancy at 3% as at January 2019 (source: Property Council Australia), primarily driven by low supply additions and the draw of more affordable rentals than the CBD."</p>
<p>"While 148,000 square metres is currently under construction across four sites and is all due to come online over the next two years, pre-commitment for this space is at 90%, so vacancy is unlikely to soften significantly."</p>
<p>"The opening of the Metro North West Line on 26 May provides a significant increase in accessibility to the secondary office precincts of Norwest and Macquarie Park, as well as an additional line of access to Chatswood, increasing the overall appeal of these secondary precincts."</p>
<p>"Across Sydney, we are seeing strength in the commercial office market that is encouraging given the softening of the residential market. The strength of the market has been primarily driven by limited stock and infrastructure improvements and is anticipated to remain strong for the time being," they concluded.</p>
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Sydney CBD office rentals remain at record highs: HTW Commercial

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<p>The Melbourne office market vacancy rates, in particular in the Melbourne CBD, city fringe and inner east, are lower than the long-term average vacancy levels and are anticipated to further decline in the second half of 2019, according to the latest Commercial Market report from Herron Todd White.</p>
<p>The Melbourne CBD’s overall office vacancy rate was at 3.2% in January 2019, the lowest of all of Australia’s CBDs. according to the Property Council of Australia’s Office Market Report. </p>
<p>According to HTW's property valuation reporters, there is limited new supply and available stock in the market until 2020. </p>
<p>The robust leasing market is also being fuelled by healthy tenant demand driving strong rental growth in both face and effective levels.</p>
<p>Due to the rise in CBD rentals, the city fringe precinct continues to gain popularity from the creative, technology and professional services sectors.</p>
<p>Tenant demand is also strong in the inner east markets, particularly in highly soughtafter suburbs such as Richmond, Cremorne and Hawthorn. The inner east has a vacancy rate of 3.58%, the lowest amongst all of the metro precincts in Melbourne.</p>
<p>The June report stated, "It is expected that rental growth will continue for the remainder of 2019 in these precincts for well-located, good quality stock. Sales demand is particularly strong for well-located, land-rich investment assets."</p>
<p>"A circa 1990 double storey office building at 79-83 High Street, Kew (pictured in title) sold off-market ahead of the launch of an EOI campaign for $19 million in April 2019, reflecting a passing yield of approximately 6.2%. The property comprised 19 strata units with a total lettable area of approximately 3,361 square metres situated on a 3,760 square metre Commercial 1 zoned land allotment."</p>
<p>"The building had 10% vacancy and was sold to fund manager, Terraplex, with intentions to refurbish the building and potentially add extra floor space," they noted.</p>
<p>In the outer suburban market, the sale at 347-351 Burwood Highway, Forest Hill represents the largest metropolitan office transaction this year.</p>
<p>The property was sold to an adjoining owner, a Melbourne based developer, for $45.85 million in April 2019.</p>
<p>The property is situated opposite the Tally Ho Business Park and comprises a 2.62 hectare Commercial 1 zoned allotment improved with two office buildings with a combined net lettable area of approximately 10,692 square metres.</p>
<p>The property is approximately 70% leased to a variety of tenants including NEC, Bolton Clarke and Hamilton Morello.</p>
<p>The HTW valuers said, "we highlight that the purchaser elected to purchase the property as is without a 30% rental guarantee from the vendor and without deduction of outstanding incentives. The property has a WALE (by income) of 3.4 years and a reported reversionary yield of approximately 7.32%."</p>
<p>"The relatively low yield for an asset of this nature with sizeable leasing risk demonstrates the confidence buyers currently have in the Melbourne metropolitan office market."</p>
<p>"Due to the slowdown in the residential market and tightening lending criteria, demand for development sites within the inner suburban region has declined somewhat, however we are aware of ongoing, albeit subdued demand from developers seeking to secure well located sites to establish mixed use developments within close proximity of neighbouring retail strips, amenities and public transport."</p>
<p>"It is uncertain when residential market conditions will begin to recover and purchasers are cautious that any future downturn in economic activity may lead to a reduction in demand and market value, however we note that demand for commercial development sites, particularly sites with holding income, is strong in inner city areas such as Richmond, Cremorne and South Melbourne where developers are intending to deliver commercial office projects instead of apartment projects in the current market to capture the strong office leasing and sales conditions," they concluded.</p>
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