<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.

[smartcode_project_cta:default project_id=140747]

Joel Robinson

Smith by Valli delivers design-led apartments 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.

[smartcode_project_cta:default project_id=509]

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

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

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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Hollywood’s post-production and effects giant, Technicolor, has secured a 10 year lease for an Adelaide CBD office.
Technicolor be situated on levels seven, eight and nine of 178 North Terrace.
Their focus for this office will initially be on delivering visual effects (VFX) for major film studios and streaming services around the world.
Savills Australia’s Adam Hartley negotiated the 10-year lease term at circa $370 per sqm for the 4,200 sqm space.
Mr Hartley said it was a "game changer... Technicolor will create 300 to 400 new jobs, boosting the state’s economy, and reinvigorating the Myer Centre trading precinct".
“Ongoing support from the state government and local council will continue to entice a variety of companies to establish footprints in Adelaide."
“Financial incentives from the state government, combined with factors such as lifestyle, competitive business conditions and best in class internet connection via the Ten Gigabit Adelaide network.will become increasingly attractive to internationally based companies,” Mr Hartley concluded.
Technicolor was given a $6 million grant from the state’s economic investment fund and is expected to inject an economic benefit of more than $252 million into the city throughout the next 10 years.
Similarly, last year, Savills Australia negotiated a lease agreement for New Zealand-based technology company, Medi-Map, which also chose to set up shop in Adelaide with support from government funding.
Built Holdings Pty Ltd is constructing the fit-outs for the Technicolor space, which are currently underway and expected to be ready for operation in April.
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Savills arranges Adelaide CBD office space for global film company Technicolor

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A consortium of Queensland-based caravan operators has purchased a Coconut Grove, a Hervey Bay caravan park for $1.7M.
Situated at <a id="LPlnk448609" href="http://ecomms.raywhite.com/collect/click.aspx?u=jRYOrR8N39R+6hBQZ7yXMt0Z3VIjNMZGG0PvjSKt1HaLT2OpcdifYCcFNgBkWSIR&amp;rh=ff0046acf37dea1a46aeb74b69489dce64805f12" target="_blank" rel="noopener noreferrer" data-auth="NotApplicable">1-9 McLiver Street, Kawungan, Hervey Bay</a>, it is in the south-eastern corner of McLiver Street and Main Street.   The 1.9 hectare property was marketed and sold by Ray White Hervey Bay Principal Glenn Fallon.
Coconut Grove is comprised of 93 powered sites, most of which are vacant or occupied under various agreements for long-term residents. 
<img src="https://www.urban.com.au/images/2019/2/6/Coconut%20Grove%202.JPG" alt="">   Mr Fallon said there was strong interest from across the country with enquiry numbers well in to double figures.   He said, “there were six registered bidders on the day, with the starting bid at $1M, before climbing to its final selling price of $1.7M. There was a total of five bids during the auction."
“The Fraser Coast is a vibrant coastal area and is recognised as having the fastest growth rate on the eastern seaboard."   “Hervey Bay is the gateway to heritage-listed Fraser Island and Great Sandy Straits and boasts some of the best fishing, calm water boating and water sport activities in Australia."   “The climate in Hervey Bay is acknowledged by most southern investors as being one of the most liveable in Australia,” he concluded
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Kawungan caravan park Coconut Grove sold for $1.7 million

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The average Sydney strata office sale price is now over $1.5 million for the first time ever, according to Ray White’s upcoming Between the Lines commercial report. 
The research showed limited supply available for sale had increased competition and been instrumental in growing capital values into 2018, after stand-out increases in 2016 and 2017.
In 2018 $151.93 million dollars worth of strata office sales took place across 100 transactions.   Ray White’s Head of Research Vanessa Rader said “As vacancy levels continue to maintain a low rate across the broader Sydney CBD market, rents remain expensive, which has seen more occupiers looking to shelter from further increases."   “On a per square metre basis, the overall capital value saw an increase of 24.66 per cent compared to 2017's annual results, which is an average of $12,144 sqm (on an adjusted basis), more than doubling the value achieved in 2014." “In 2018 we've seen a greater volume of multiple purchases, where buyers are seeking to amalgamate adjoining lots. But despite this, the average sale size remains low at 124sq m, slightly up on 2017 result of 117 sqm."   “Turnover this period has been its highest in the Core sector, with the bulk of transactions occurring in quality strata buildings along Hunter and Pitt Streets, with many achieving new highs in capital value," she added.
Activity in the Macquarie and Elizabeth Street precinct increased this year.   Ms Rader stated, “The Core sector recorded $71.67M, followed by Midtown with $44.06M and Western Corridor $23.49M changing hands, while the Southern precinct, due to its limited stock, has recorded just $9.79M for the full 2018 calendar year.”   She added, considering the annual capital values by precinct, 2018 saw outstanding growth across all precincts, adding to the last five years where value increases had been substantial.   “Core continues to be the most expensive precinct which has increased to $12,877/sqm, up 14.36 per cent over the last year, followed by Midtown up 19.98% to $11,768/sqm,”   “A highlight's in the Southern precinct, achieving over $10,000/sqm for the first time. Over a five-year period, the growth in this segment of the market has been remarkable, particularly given the prolonged period where limited change occurred in values for this asset class.   “Overall, the Sydney CBD strata market has yielded annual growth of 27.69 per cent per annum, the most stable growth rate being in the Core sector, up 26.81 per cent per annum over this period,” she concluded.
<img src="https://www.urban.com.au/images/2019/2/6/wharf%201.JPG" alt="">
Ray White Commercial NSW’s Sales Director Strata Sales Christian Minards said the sale of King Street Wharf waterfront office at <a id="LPlnk910413" href="http://ecomms.raywhite.com/collect/click.aspx?u=jRYOrR8N39R+6hBQZ7yXMt0Z3VIjNMZGUHy3spBOCCc7XnQOC/I58CxewQ3EgnfeJc1IjKSaYe4=&amp;rh=ff0046acf478bab0e96fd8df2147b057fff2eec6" target="_blank" rel="noopener noreferrer" data-auth="NotApplicable">Suite 505/35 Lime Street</a> (pictured above &amp; title) was an example of the markets strength.
The sale price is believed to be around $2.6M to $2.7M.   Mr Minards said the sale represented a rate per sqm for the office component of over $14,630psqm, a record result for the development.   “The development of Barangaroo has created a surge in sale prices at King Street Wharf, which until recently have been priced at around $10,000psqm. We’re now seeing prices climbing to over $14,500psqm,” he said.   “The lack of supply of quality strata offices and strong demand from buyers is continuing to drive strata office prices."   “Suite 505 presented a highly sought-after opportunity within the tightly held King Street Wharf precinct and the opportunity attracted plenty of interest.”
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Average Sydney strata office sale price breaks $1.5 million: Ray White

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The cafe commercial space beneath South Yarra's former Hotel Saville, dubbed The Blocktagon when redeveloped on the hit renovation show The Block four years ago, is up for sale.
The space at <a href="https://www.realcommercial.com.au/property-retail-vic-south+yarra-503055898" target="_blank">5 Commercial Road</a> is currently the home of cafe Mister Zen, who occupy the 133 sqm corner premises.
An architecturally designed courtyard of a further 195 sqm comes with the purchase.
<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/2019/2/6/Block3.jpg" alt="">
The space yields $48,801 per annum. Mister Zen currently holds a 4 x 4 x 4 year lease.
The building, which was formerly the seedy hotel, appeared on season 11 of The Block in 2015.
The commercial premises has sold only once since the show aired. It fetched $975,000 in 2017 when it was asking over $900,000.
<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/2019/2/6/Block2.jpg" alt="">
Now Fitzroy's Melbourne agents James Lockwood and Chris Kombi have a guide of $1.2 million.
There's only been <a href="/news/suzi-taylor-blocktagon-apartment-sold">one resale of the apartments</a> in the last four years.
It was the three bedroom apartment of controversial contestant Suzi Taylor and her friend Yvonne 'Vonni' Cossier.
It sold for $2.35 million, well up on its $1,829,000 sale under the hammer live on TV in late 2015.
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The cafe premises in The Blocktagon South Yarra listed for sale

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Kitchen, bathroom and laundry retailer e&amp;s has launched a designer showroom in Preston, adding to its existing nine showrooms across Victoria.
The new store aims to deliver an interactive experience and was designed by the interior and architecture firm Mim Design.
It will feature an array of products from more than 50 mid-range to luxury brands, including Sub Zero and Wolf, Neff, Bosch, Miele,Fisher &amp; Paykel, Asko, VZUG, Astra Walker, Duravit, Kohler, Gessi, Brodware, Victoria &amp; Albert, Villeroy &amp; Boch and SMEG.
Rob and Mike Sinclair, e&amp;s second generation owners, opened the store in December.
The 3039 square metre retail space has employed a team of 20.
<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/2019/2/5/Mim_Design_ES_0191.jpg" alt="">
“Launching an e&amp;s in one of Melbourne’s fastest growing suburbs just made sense,” Rob says.
He added it was fitted with an expansive demonstrative kitchen catering for workshops and events, along with a cafe for "pondering purchasers".
<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/2019/2/5/Mim_Design_ES_0372.jpg" alt="">
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Retailer e&s launches flagship store in Preston

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CBRE Hotels has sold Travelodge Rockhampton to a private Chinese investment group.
The acquisition is the group's first foray into the Queensland hotel market.
The 4-star Rockhampton CBD hotel at 86 Victoria Parade features 74 rooms, as well as four conference and meeting rooms, two food and beverage venues, a swimming pool, gymnasium and parking.
<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/2019/2/5/rockhampton%202.jpg" alt="">
The asset received multiple offers in the first week of the campaign.
CBRE Hotels said a stock shortage is helping to draw buyer attention to Queensland opportunities as investors are priced out of southern markets. Investors are seeking to capitalise on the Sunshine State’s strong tourism fundamentals and more transactions are expected to take place along the Queensland coast throughout 2019, they noted.
<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/2019/2/5/rockhampton%203.jpg" alt="">
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Travelodge in Rockhampton sold to private Chinese investment group

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HTL Property has announced the sale of the Coopers Hotel in Newtown following an off-market sales campaign.
The hotel on a 400 sqm block at 221 King Street last traded for $13.5 million in 2011.
For the 2018 financial year, the property had a $4.7 million turnover.
Turnover was balanced across food, beverage, gaming and wagering.
It has 21 electronic gaming machines and recently secured approval to expand the gaming room and midnight liquor licence with ‘early opener’ flexibility. 
It ranked #512 on OLGR Gaming Rankings list for the September 2018 quarter.
This sale represents HTL Property's fourth recent Inner City food and beverage transaction following the sale of the Salisbury Hotel, Bells Hotel and Bellevue Hotel.
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Newtown's Coopers Hotel sold off-market

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Melbourne suburban office sales surpassed $1 billion in value for the fifth consecutive year in 2018, according to Colliers International.
The group is forecasting another year of record investment in the Melbourne metropolitan market.
$1.08 billion worth of metropolitan office sales were recorded in 2018, for offices above $5 million with 44 transactions taking place.
This was an increase from $1.03 billion in 2017. 
Colliers International’s Peter Bremner, National Director of Metro Sales, said the most active market was the city fringe region, where just over $500 million of office buildings sold in 18 transactions.
This was followed by the Outer East region, where $300 million of office stock sold across 14 transactions.
“We predict another $1 billion-plus year in 2019 as buyers see value in the strong fundamentals of the Melbourne metro office market, as leasing conditions continue to turn in favour of lessors and rents continue to rise and incentives decrease across most regions," Bremner said.
“Whilst yields may not decline like they have in previous years, capital growth is still expected due to these favourable leasing conditions.
“Pre-commitment and speculative office construction will rise as residential development sites are converted back to commercial as the highest and best use.”
Melbourne’s metropolitan office market comprises 3.23 million square metre in NLA and has a current overall vacancy of 5.24%. 
Bremner said the hottest markets to watch in 2019 would continue to be those city fringe suburbs within the 3-5 kilometre ring around the CBD, including South Melbourne, Kensington, Fitzroy, East Melbourne, Abbotsford, Collingwood, Richmond and Cremorne.
The largest deal of 2018 in Victoria was the sale of 60 Brougham Street in Geelong for $115.25 million.
The office building was 100% occupied by TAC and purchased by Centuria for a passing yield of circa 6.90%. 
Followed by the sale of 21 Harcourt Parade, Cremorne, an office building that was pre-committed by MYOB and sold by Colliers International as a fund-through transaction to AXA for $100.1 million, reflecting a yield of 5.40%. 
The third priciest deal of 2018 was 452 Johnston Street in Abbotsford which transacted for $93.5 million at the start of 2018, with Abacus Property Group purchasing the Computershare headquarters on a yield of 5.85%. 
Private investors accounted for 51% of metropolitan office sales in 2018 (or 22 deals), following by owner-occupiers at 21% (nine deals).
This was followed by institutions at 12% of total transactions (five deals), offshore buyers at 9% (four deals), syndicates at 5% (two deals) and just one sale to a developer (2% of total transactions).
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Melbourne metro office investment cracks $1 billion for fifth year running

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The Zenith, located in Chatswood on Sydney’s North Shore, is to be sold by Centuria and a private fund managed by BlackRock. 
Comprising of two buildings situated on a site of approximately 7,990 square metres, the property has price expectations of over $400 million. 
The Zenith is an A-grade asset with circa 44,102 square metres of NLA set across 21 levels. 
It is 100% occupied and with a WALE of 4.4 years with tenants including Property NSW, Commonwealth Government of Australia, Lendlease and Sage. 
The Zenith is located at 821 Pacific Highway.
Prime office rents are 50% less than similar assets in the Sydney CBD and the soon to be completed Sydney Metro, located within 150 metres of the Zenith will decrease travel time to Barangaroo to about 11 minutes.  
<img src="https://www.urban.com.au/images/2019/2/5/Zenith.JPG" alt="">
The office vacancy in Chatswood is at its lowest levels since 2000 at circa 5.5%, with the vacancy rate expected to fall below 5% by 2020, according to Centuria. 
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The Zenith Chatswood listed with $400 million price expectations

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EXPERT OBSERVER
Department stores and clothing retailers are drawing on consumer behaviour and psychological research to compete with online shopping. 
Bricks-and-mortar retail stores are under intense pressure from online competition. Feeling the most heat are clothes shops and department stores.
This year David Jones’s profit halved, to A$64 million. Myer declared a “disappointing” <a href="https://www.propertyobserver.com.au/https://www.abc.net.au/news/2018-09-12/myer-full-year-results-2018/10236074" target="_blank">A$486 million loss</a>. German giant Esprit, whose global sales have fallen 40% in four years, has shuttered <a href="https://www.ibisworld.com/industry-insider/analyst-insights/espirit-the-clothing-retailer-set-to-close-its-australian-stores/" target="_blank">its Australian operations</a>. The US-based Gap closed its <a href="https://www.news.com.au/finance/business/retail/gap-closes-final-australian-store-ending-its-disastrous-foray-down-under/news-story/c27860366c3c290e087339aaec3c8503" target="_blank">last Australian store</a> back in February. Other brands to have collapsed include Metalicus, Oroton, Marcs, David Lawrence and Pumpkin Patch.
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<iframe style="border: none;" src="https://datawrapper.dwcdn.net/43k4k/1/" frameborder="0" width="100%" height="400"></iframe>
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What to do?
One answer is to invest in and enhance those aspects of the shopping experience that online retailers just can’t provide.
To do so department stores and clothing retailers are drawing on consumer behaviour and psychological research to make themselves more appealing – sometimes without shoppers even consciously realising it.
Here are three of the most significant strategies.
<h2>Home is where your heart is</h2>
Shopping from home is comfortable. You can do it in your time. You feel no pressure to hurry up and buy something. You can do it in your pyjamas.
To compete against the home shopping experience, retailers are exploring how to make you feel more at home in their stores. Tactics involve evoking sensory familiarity through furnishings, lighting and even scents.
Men’s clothing retailer Rodd &amp; Gunn is taking the homeliness vibe to its logical extreme, with shop fit-outs that mimic an actual home.
<img src="https://images.theconversation.com/files/247179/original/file-20181126-149311-1x3m3l0.jpg?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=754&amp;fit=clip" alt=""> Rodd &amp; Gunn’s ‘experiential’ retail store in Chadstone, Melbourne. Rodd and Gunn blog
The picture above shows Rodd &amp; Gunn’s “<a href="https://www.insideretail.com.au/news/stores-news/rodd-gunn-opens-experiential-chadstone-store-201810" target="_blank">experiential store</a>” in Chadstone, Melbourne. There’s a slanted wood-panelled ceiling to evoke a real house roof. In the centre of the shop floor is a “living room” space with sofa, armchairs and a coffee table. Artworks hang on the walls. It’s all intended to make you feel as relaxed (almost) as you would in your own home.
This approach reflects the research that shows how <a href="https://www.sciencedirect.com/science/article/pii/S096969891630577X" target="_blank">familiar design elements</a> help make shoppers feel comfortable. Colour and music choices apparently don’t make much difference, but layout and other sensory experiences do.
Familiar scents, for example, can affect your decision to go into a store, how long you stay and ultimately how much you spend. They are particularly effective when they <a href="https://www.sciencedirect.com/science/article/pii/S0969698916305483" target="_blank">complement</a> the brand, such as the faint smell of wood in a hardware store or a more herbal scent in a wellness store.
<h2>You want space, but not too much</h2>
What can make or break your experience in a shop is how the staff treat you. As <a href="https://www.researchgate.net/publication/282224094_The_Thin_Line_between_Love_and_Hate_of_Attention_The_Customer_Shopping_Experience" target="_blank">Sarah Alhouti and her colleagues</a> have put it, there’s a thin line between love and hate of attention.
An overly attentive salesperson can be perceived as desperate, pushy or aggressive and <a href="https://www.sciencedirect.com/science/article/abs/pii/S0148296304000372" target="_blank">drive you away</a>. Too little attention, on the other hand, can leave you feeling <a href="https://www.jstor.org/stable/pdf/2786426.pdf" target="_blank">ignored, unwanted and unworthy</a>, with the same result.
With the Goldilocks zone being different for different people, retailers are turning to technology to help get the attention levels right.
For example, Australia’s largest swimwear label, Seafolly, is trying out an <a href="http://www.ragtrader.com.au/news/seafolly-has-launched-a-magic-mirror" target="_blank">interactive mirror</a> in the fitting room of its Bondi Junction store in Sydney.
<img src="https://images.theconversation.com/files/250180/original/file-20181212-76974-17a4act.jpg?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=754&amp;fit=clip" alt=""> The interactive mirror in Seafolly’s Bondi Junction store. Seafolly
It allows the customer to message staff directly from the changing room for assistance only if, and when, they decide they need it.
<h2>You’re so special</h2>
Shopping online is highly convenient but it doesn’t necessarily make you feel special.
Some bricks-and-mortar retailers are positioning themselves at the premium end of the shopping market by appealing to the human desire to be pampered. It makes sense to invest in the “VIP experience”, because now every customer they get is very important.
Creating the VIP experience extends from personal greetings to champagne and caviar bars.
Department store <a href="https://www.smh.com.au/lifestyle/fashion/department-stores-are-promising-better-service-but-is-it-too-late-20181003-p507i8" target="_blank">David Jones</a> has embraced this trend as part of the A$200 million redevelopment of its Sydney premises.
Its revamped shoe floor – the largest shoe store in Australia – includes “shoe concierges” to greet and guide you and specialist shoe fitters recruited from around the world. And yes, there’s also a champagne bar.
<img src="https://images.theconversation.com/files/247180/original/file-20181126-149317-1nzb9wa.jpg?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=754&amp;fit=clip" alt=""> David Jones’ new ‘Level 7’ shoe floor in Sydney. David Jones media release
Such experiences meet the desire for <a href="https://www.forbes.com/sites/njgoldston/2017/12/29/what-you-need-to-know-about-luxury-consumer-trends-for-2018/#2d19680921eb" target="_blank">a “luxe” experience</a> without the luxury price tag. Research has found that even the simple act of just being welcomed at the entrance of a store can influence how your <a href="https://www.sciencedirect.com/science/article/abs/pii/S0148296316304295">perceive service quality</a> as well as <a href="https://www.researchgate.net/publication/324159812_The_Social_Servicescape_A_Multidimensional_Operationalization" target="_blank">customer satisfaction and store loyalty</a>.
Whether such strategies can save bricks-and-mortar stores remains to be seen.
In the meantime, champagne anyone?<img src="https://counter.theconversation.com/content/107506/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;">
<a href="https://theconversation.com/profiles/eloise-zoppos-579650" target="_blank">Eloise Zoppos</a>, Senior Research Consultant, <a href="http://theconversation.com/institutions/monash-university-1065" target="_blank">Monash University</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/brick-bait-three-tricks-up-retailers-sleeves-to-lure-you-back-to-physical-shops-107506" target="_blank">original article</a>.
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