<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.

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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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Sydney and Melbourne have again topped the global list for office rental performance, taking out the 2 top spots for annual prime office rental growth in the third quarter.
JLL’s latest <a href="http://www.jll.com/gmp/Global-Office-Index" target="_blank" style="font-size: 12.16px;">Global Office Index for Q3</a> shows Sydney way out in front globally in number one spot for annual growth between Q3 2016 and Q3 2017.  Sydney recorded 30.1% annual growth in prime rents.  Melbourne recorded 17.3% year-on-year growth for the same period, pushing it to the second global spot.
US cities came in next, with San Francisco Peninsula in third at 12.9% annual rental growth, New Jersey at 12.2% and Portland in 5th spot at 10.4%.
Click here <a href="https://www.propertyobserver.com.au/images/2017/11/29/Global%20office%20index.jpg" target="_blank">to enlarge.</a>
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JLL’s Head of Office Leasing – Australia, Tim O’Connor said, “Sydney has consistently featured in the Top 10 Global performers rankings for the past 5 years and Melbourne for the past 2 years.
“Two years ago, Sydney ranked number one, while Melbourne was ranked fifth. While the Sydney story has continued on the back of centralisation, stock withdrawals and growth from the technology sector in particular, Melbourne is now following hot on the heels.
“The sharp reduction in vacancy that precipitated the upward pressure in Sydney and Melbourne rents has been amplified by the lack of available new supply coming on line in the short term. The number of options for larger space users in existing stock now means demand will be expressed through additional pre-commitment activity,” said Mr O’Connor.
JLL Charts below showing global rental performance over the past 2 and 5 years for comparison of Sydney and Melbourne rankings two and five years ago:
Two year global rental performance. Click here <a href="https://www.propertyobserver.com.au/images/2017/11/29/2%20year%20global%20rental%20performance.jpg" target="_blank">to enlarge.</a>
<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/2017/11/29/2%20year%20global%20rental%20performance.jpg" alt="">
Five year global rental performance. Click here <a href="https://www.propertyobserver.com.au/images/2017/11/29/5%20year%20global%20rental%20performance.jpg" target="_blank">to enlarge.</a>
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JLL’s Q3 <a href="http://www.jll.com/gmp/Global-Office-Index" target="_blank">Global Office Index</a> states that rental growth for prime offices across the 125 major markets covered by the JLL Global Office Index continued to pick up pace in Q3 2017, rising by 2.7% year-on-year. 
This was significantly above the 10-year average growth of 1.6%.
Momentum is expected to continue with above-average increases in 2018, with a projected uplift of 3% for the full year 2017 and 2.3% globally next year. 
JLL Head of Research – Australia, Andrew Ballantyne said, “Sydney and Melbourne effective rental growth was in double digit territory over 2016 and 2017. We expect that effective rental growth will ease back from this rate in 2018. 
“Nevertheless, Sydney and Melbourne effective rental growth is projected to remain above 7% in 2018 with the potential to be even higher if the competition for space exerts further downward pressure on leasing incentives,” said Mr Ballantyne. 
JLL’s Victorian Managing Director, David Bowden said, “Melbourne’s rental growth story has been strengthening since mid-2016. 
“Limited new supply and strong office sector demand have combined to put significant upward pressure on face rents. Asset owners took a while to adjust their incentive expectations however these started coming down at the end of 2016. 
“Melbourne’s CBD office market is benefiting from strong population growth which is fuelling business expansion in a diverse range of sectors. In 2016, the leasing market had the highest net absorption since 1978 and has remained strong in 2017, dominated by small business expansion which has accounted for over 63% of office sector demand. 
“New rental benchmarks have been set this year for both existing assets and for the new stock due to come to the market over 2018 – 2020,” Bowden said.
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jrobinson-rf4aSBido9

Sydney and Melbourne rank top two globally for office rents growth: JLL

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Prized landholdings with development potential in Melbourne’s inner-eastern suburbs continue to attract premiums, with a High Street, Kew site the latest to change hands.
A local developer picked up the 526sqm concrete display yard at 226-232 High Street with an attractive Commercial 1 zoning for $4.5 million.
Chris James and David Bourke of Fitzroys negotiated the off-market transaction.
The site has a wide 15.4-metre frontage to High Street, in a central position in the Kew retail and commercial centre across from local icon Toscano’s, neighbouring Bank Australia and close to other major banks, supermarkets, specialty food and beverage offerings, and Kew Junction.
The site offered existing holding income from an outdoor advertising agreement of $30,600 per annum.
James said the purchaser has completed a number of successful developments across Melbourne and would look to utilise the site for a mixed-use project.
He said the ongoing introduction of medium and high-density residential developments and a growing office population in Melbourne’s inner eastern suburbs of Camberwell, Hawthorn and Kew had stimulated the retail precincts throughout the region, including Kew Junction, Glenferrie Road and Camberwell Junction.
“Kew, Hawthorn and Camberwell are proving particularly attractive to developers for boutique project opportunities, underpinned by strong demand due to the area’s retail and lifestyle offering, the presence of a number of Melbourne’s leading private schools and multiple public transport options.”
More than 2,000 apartments are currently in the pipeline through Melbourne’s inner-east.
A Mayston Street site in neighbouring Hawthorn East recently sold with a permit for 33 apartments and four townhouses, and major Chinese player Dahua Group has a 1,980sqm four-level mixed-use project with 345 apartments in its pipeline in the suburb.
According to Fitzroys’ Walk the Strip report, “Whilst the Victorian shop-and-dwelling that dominates many of our strip centres ensured the activation of mixed uses through these locations in the past, it is the more recent revolution of medium density mixed-use retail/ residential developments that has further accentuated the extended trading cycles of these centres and added to their vibrancy.”
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Developers continue to prize Melbourne’s inner-east

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A new fast food and Caltex service station in NSW’s Goulburn with long leases to Woolworths and Red Rooster fetched $4,530,000 at Burgess Rawson’s portfolio auction.
The yield on the sale was a strong 5.06 percent. It was sold to a Chinese investor with settlement yet to be registered.
The <a href="https://www.realcommercial.com.au/property-retail-nsw-goulburn-502419342" target="_blank">180 Hume Street</a> property is on a large 4,317 sqm corner site surrounded by Bunnings, McDonald’s, Subway and Shell.
There is a 15 year lease to Woolworths that started in 2017 and has options till 2052. 
Fast-food chain Red Rooster is on a 10 year leases that started in 2017 and has options till 2047.
It is opposite the “Big Merino” tourist pit-stop landmark.
The development was completed in 2017 and comes with depreciation benefits.
The total net income from the property is $229,073 pa + GST.qm.
The selling agents were Simon Staddon and Darren Beehag at auction in June this year.
Back in 2013, a local investor Rodney Thompson had bought the site for just over $1 million, and over the past four years he redeveloped it into a Red Rooster outlet and Woolworths Caltex service station, according to the Goulburn Post.
 
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jonathanchancellor-7SQnKwU6yx

Service station in NSW's Goulburn sells on strong yield of  5 percent at Burgess Rawson auction

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The Mercado restaurant space in Sydney’s Martin Place precinct has sold for $5.3 million at Burgess Rawson’s portfolio auction.
The trophy retail sale to a Chinese buyer fetched a yield of 4.82 percent.
The shop at <a href="https://www.realcommercial.com.au/property-retail-nsw-sydney-502467362" target="_blank">LG03&amp;04/350 George Street</a> has a land area of nearly 404 sqm.
350 George Street is a refurbished heritage building.
Mercado has a secure lease in place to 2025 with further options to 2035. The lease comes with 4% annual fixed rent increases.  The property earns a net income of $258,053.90 pa + GST.
Chef Nathan Sasi is the mastermind behind the food at Mercado, and his speciality lies in creating everything from scratch. 
The selling agents were Andrew Vines and Darren Beehag of Burgess Rawson.
The property was part of the Burgess Rawson portolio auction held in Sydney in August, which saw 17 out of the 27 properties sell.
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Mercado restaurant space in Martin Place fetches $5.3 million at Burgess Rawson auction 

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The historic Woodbridge Boutique Hotel in New Norfolk, Tasmania, has been listed for sale.
The property with Derwent River frontage, some 35 kilometres north west of Hobart, was built in the early 1820s, a significant early Colonial building.
Unique Estates agent Dominic Romeo is marketing the property which was originally a private residence. There was an award winning restoration in 2005.
The hotel itself is an award winner and is a member of Small Luxury Hotel of the World.
Spanning 1000 sqm, <a href="https://www.realestate.com.au/property-other-tas-new+norfolk-127073282" target="_blank">Woodbridge Boutique Hotel</a> is Tasmania's only AAA Accredited 5 star hotel.
<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/2017/11/28/Tassie2.jpg" alt="">
A charming entry hall leads to a number of reception rooms, formal and informal sitting rooms, a reading room and dining areas.
There are nine bedrooms all with their own ensuite and views over the river and mountains.
They have architectural features associated with the elegance of the Georgian era, from multi-paned windows and cedar fire surrounds to open wood fireplaces and doric columns.
An established garden is overlooked by a number of alfresco dining and seating areas.
A three storey pavilion sits in the grounds and is popular for weddings and private functions, holding up to 40 guests.
It features a bar, a manager's quarters, an office, commercial kitchen and meeting room.
On the parcel is a three room cottage and a multi-purpose building with sauna and spa.
 
 
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Tasmania's Woodbridge Boutique Hotel for sale

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A well performing Red Rooster outlet at Mt Annan has recently sold for $3,165,000 on a yield of 3.96 percent at Burgess Rawson’s portfolio auction.
The fast-food retailer has a secure 10-year lease to 2023 plus options through to 2033. Corporate lease in place to Red Rooster Foods Pty Ltd
The shop at <a href="https://www.burgessrawson.com.au/properties/proven-perfomer-next-to-mcdonalds-10-year-head-office-lease/" target="_blank">249 Waterworth Drive</a> is on a 2,287 sqm site including a drive-thru facility.
The property earns a net income of $143,262 pa plus GST. 
Lessee pays all usual outgoings including Land Tax.
It has access to the busy Narellan Road – major connector road to Sydney CBD via Hume Motorway.
The selling agents were Raoul Holderhead and Kieran Bourke of Burgess Rawson.
The property last sold in 1997 for $750,000. The vendor was Amalgamated Food &amp; Poultry Pty Ltd, CoreLogic RP Data reveals.
In another deal, a shopping centre  in Toowoomba's northern suburbs which has a Red Rooster has sold for nearly $2 million at Burgess Rawson’s portfolio auction.
The centre at <a href="https://www.realcommercial.com.au/property-retail-qld-harlaxton-502577202" target="_blank">281-285 New England Highway, Harlaxton</a>, sold for $1.8 million, according to The Chronicle.
In 2015, Red Rooster's outlet at NSW's Coffs Harbour sold under the hammer for $2.2 million at another Burgess Rawson auction.
The 5/380 Pacific Highway eatery is on a renewed lease to April 2021 with three five year options. 
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Mt Annan Red Rooster sells on a yield of nearly 4 percent at Burgess Rawson auction 

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Mixed-use retail assets continue to find favour with investors, most recently evident from the ongoing auction campaign to sell two lots in Sydney’s Inner West, say Cushman &amp; Wakefield.
Located at <a href="https://www.commercialrealestate.com.au/property/lots-1-2-270-liverpool-road-ashfield-nsw-2131-2013999807" target="_blank">270 Liverpool Road</a> (pictured above) in Ashfield’s retail strip, the lots comprise two brand new strata retail stores tenanted by ANZ Bank and Chemist Warehouse.
According to Cushman &amp; Wakefield, the strong interest in the upcoming auction for the two lots has been driven primarily by high net worth individuals and family investors, both from the local area but also interstate and overseas. These investors are attracted to the long term capital growth presented by the retail sites.
With the rise in medium and high density housing, there has been a significant effect on the way we work, shop and live, say Cushman &amp; Wakefield.
This is also driving experiential and mixed use retail as retailers look to meet the challenge from online shopping.
Demand for mixed use retail and lively high streets storefronts are, in part, also in response to increasingly compact living spaces that are impractical for entertaining.
For developers, the mixed use retail component of a development can generate significant returns, and margins can be increased through maximising the retail pricing and refining their strategy.
“With an apartment tower and space below you effectively create a vertical community,” says Cushman &amp; Wakefield’s head of Research Dominic Brown.
“The retail offers more than convenience; the right tenant emphasises that local village atmosphere and occupiers buy into the concept of a café where the barista knows their order, or bank where the teller knows their name.
“The natural solution for residential adjacent retail is convenience retailing, however, any business offering something the internet can’t is ideal. An experience or service element which is not appealing or available for online purchase will be well received by any resident.”
The two lots going to auction on December 5 reflect this trend.
<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/2017/11/24/Ashfield2.jpg" alt="">
Lot 1 is occupied by Chemist Warehouse, which is on a new 10-year lease to 2027 plus options to 2037.
The net income from the property is $434,687 per annum plus GST.
The net lettable area is 789 square metres.
Lot 2 is lease to ANZ Bank which is on a seven-year lease to 2023 plus options to 2033.
The net income from the property is $253,838 per annum plus GST.
Its net lettable area is 274 square metres.
Both properties have 4% annual increases.
The listing agent is Anthony Bray.
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prateek24-ezbwHMbNAk

Mixed-use retail values boosted by surging residential development: Cushman & Wakefield

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The former Miss Universe Australia Rachael Finch and her dancer husband Michael Miziner have settled a dispute over the business operating out of a commercial site the pair own in Alexandria.
It began in April last year when the current lease holders wanted to sell their business to a new owner.
The Daily Telegraph reported the parties reached a confidential settlement last week before a scheduled hearing of the NSW Civil and Administrative Tribunal (NCAT).
McEvoy Food Company Pty Ltd decide to sell their small cafe business they were running out of the McEvoy Street, Alexandria premises to WoW Music Pty Ltd, an online store selling CDs and DVDs via Ebay and through direct orders.
They originally were set to run the music store out of the Alexandria premises but then decided to run a “commercial kitchen with retail shop”.
Finch and Miziner however refused to consent to the change of lease and the matter was taken to the NCAT for resolution.
Court documents reveal the former Miss Universe and her husband were concerned WoW Music would not be as financially successful as their current tenants as the new applicant had no retail cafe experience.
Finch told The Daily Telegraph through her publicist that the pair had happily settled.
“Yes, we were just trying to protect investment. The matter was settled outside of the tribunal by the two parties,” Finch said.
In December last year though NCAT ruled in favour of allowing the change of lease and found that Finch and her husband were not entitled to withhold consent.
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j.ballantyne1990-6AQqhLzZaK

Rachael Finch settles dispute with prospective tenant at Alexandria commercial space

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GUEST OBSERVER
The tale of new technologies causing the death of work is the prophecy that keeps on giving. Despite evidence to the contrary, we still view technological change today as being more rapid and dramatic in its consequences than ever before.
The mistaken view that robots will take our jobs may come from a human bias to believe that “we live in special times”. An absence of knowledge of history, the greater intensity of feeling about events which we experience first-hand, and perhaps a desire to attribute significance to the times in which we live, all contribute to this bias.
History repeating
In the 1930s, John Maynard Keynes envisaged that innovations such as electricity would produce a world where people spent most of their time on leisure activities. In the United States in the 1960s, Lyndon Johnson established a Presidential Commission to investigate fears that automation was permanently reducing the amount of work available.
Australia has not escaped the prophecy, with similar concerns about the future of work expressed in the 1970s.
In their history of Monash University, Graeme Davison and Kate Murphy report that:
"In 1978, the historian Ian Turner, organised a symposium on the implications of the new technologies. The world, he predicted, was about to enter a period as significant as the Neolithic or Industrial revolutions. By 1988, at least a quarter of the Australian workforce would be made redundant by technological change…"
Some years later, Barry Jones continued the gloomy forecasts in his best-seller Sleepers Wake!:
"In the 1980s, new technologies can decimate the labour force in the goods producing sectors of the economy…"
Of course, none of this came to pass in Australia; just as work did not disappear in the 1930s in the United Kingdom, or the 1960s in the United States.
Yet today, we are seeing the resurrection of the prophecy. Commentary on the Australian labour market abounds with claims that the world of work is undergoing radical and unprecedented change.
The increased application of computer-based technologies in the workplace is suggested to be causing a reduction in the total amount of work available; or to be bringing a more rapid pace of substitution of machines for humans than has been seen previously.
No evidence for the death of work
In recent research with Michael Coelli, we argue that the prophecy is no more likely to be realised in the 2010s in Australia than in the 1970s.
Certainly, there is no evidence that the death of work is at present underway. Since the mid-1960s the aggregate hours worked by the Australian population (on a per capita basis) has remained stable.
In particular, there has been no long-run decline in the aggregate amount of work that matches the timing of the progressive introduction of computers to the workplace since the early 1980s
<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/2017/11/19/5baa26ddacfe444abff8a277ccfd75f3.jpg" alt="">
Source: Borland, J. and M. Coelli (2017), ‘Are robots taking our jobs?’, Australian Economic Review, forthcoming, Figure 3
Moreover, the pace at which workers are churning between jobs in the Australian labour market is not getting quicker. Not only is there no evidence that more workers are being forced to work in short duration jobs, but what is apparent is that the opposite has happened. The proportion of workers in very long duration jobs has increased over the past three decades.
<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/2017/11/19/a283ab8936ce4f1da73e83095db48445.jpg" alt="">
Source: Borland, J. and M. Coelli (2017), ‘Are robots taking our jobs?’, Australian Economic Review, forthcoming, Figure 9
Why work is not disappearing
There are good reasons why we should not expect new technologies to cause the death of work. New technologies always cause job losses, but that is only part of the story. What also needs to be understood is how they increase the amount of work available.
One way this happens is through the increases in incomes that accompany the application of new technologies. With the introduction of these technologies, it may take less labour time to produce what used to be consumed, but higher real incomes, together with an apparently unlimited human desire to spend, bring extra demand (for existing products as well as for new types of goods and services), and hence for workers to provide those extra goods and services.
As well, new technologies are likely to substitute for some types of workers, but to be complementary to, and hence increase demand for, other types of workers. Computer-based technologies appear to be complementary to workers who perform non-routine cognitive jobs.
In a report on the digitally enabled workforce, Stefan Hajkowicz and co-authors suggest a range of examples for Australia – such as an increase in demand for photographers at the same time as demand for photographic developers and printers has decreased; an increase in demand for graphic designers versus a decrease in demand for printers and graphic press workers; and a decrease in demand for bank tellers simultaneously with an increase in demand for finance professionals.
<img src="https://counter.theconversation.com/content/87188/count.gif?distributor=republish-lightbox-basic" alt="The Conversation" width="1" height="1">The end of work is no closer in Australia today than at any time in the past. So, perhaps there is a need to keep disproving the prophecy, to change our mindset.
Jeff Borland, Professor of Economics, University of Melbourne.
This article was originally published on <a href="http://theconversation.com" target="_blank">The Conversation</a>. Read the <a href="https://theconversation.com/why-we-are-still-convinced-robots-will-take-our-jobs-despite-the-evidence-87188" target="_blank">original article</a>.
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Why we are still convinced robots will take our jobs despite the evidence: Jeff Borland

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As a cricket tragic, I was thrilled a little over a year when we named our son Stanley, being in part a subtle or oblique reference to one end of the Gabba cricket ground in Brisbane (I felt a reference to the old Clem Jones stand - or even 'Sir Gordon Chalk'! - might have been pushing it...).  
There's been a tremendous amount of excitement in Brisbane this week as the English cricket team is in town to the play the first Test Match of the historic Ashes series.
The view of the Stanley Street End skyline today takes in many cranes, as well as the imposing $85 million Trafalgar Residences, a 20-storey apartment block at 855 Stanley Street (being a new development since the last time an Ashes test was played here). 
Looking back towards the opposite Vulture Street End of the ground, the television cameras picked up the apartments advertised for sale and for rent at 444 Vulture Street, where apartments are advertised for rent from $360/week for one bedroom units, and from $750/week and above for three bedders. 
At this stage of the construction cycle there's a risk of vacancy rates being understated as a single online advertisement can account for multiple new apartments.
The ubiquitous offers of rent-free periods for tenants, free internet (and so on) in Woolloongabba apartments reflect the clear weakness in the rental market. 
<a href="https://4.bp.blogspot.com/-itoxPPGm1ZU/WhhpS_l1dYI/AAAAAAAAnKI/hBj0N50WViseRcD2sqxmCuyVuHD7le_gACLcBGAs/s1600/Gabba1.jpg" target="_blank"><img src="https://4.bp.blogspot.com/-itoxPPGm1ZU/WhhpS_l1dYI/AAAAAAAAnKI/hBj0N50WViseRcD2sqxmCuyVuHD7le_gACLcBGAs/s640/Gabba1.jpg" width="640" height="626" data-original-height="612" data-original-width="624"></a>
In a moment of wry amusement, even match commentator Damien 'Flemo' Fleming was moved to mention the glut of new building in the suburb, a rare yet curiously welcome departure from the discussion of Bowlology, the Fast Bowling Cartel, and heavy metal music!
<a href="https://1.bp.blogspot.com/-BwaK2bL-bhM/WhhpTYP9BVI/AAAAAAAAnKM/CXCbpcod3xwCNIMN83h-Q9pJqS4XiN2nwCLcBGAs/s1600/Gabba2.jpg" target="_blank"><img src="https://1.bp.blogspot.com/-BwaK2bL-bhM/WhhpTYP9BVI/AAAAAAAAnKM/CXCbpcod3xwCNIMN83h-Q9pJqS4XiN2nwCLcBGAs/s320/Gabba2.jpg" width="640" height="318" data-original-height="658" data-original-width="1320"></a>
Avenue of apprehension
The new high-rise apartment market can be a risky one for buyers, in part because the apartments can lack uniqueness or scarcity value, and partly because the duration of projects can span several years from approval to completion, at which point the market can suddenly become swamped with new supply. 
This cycle has played host to Queensland's greatest ever apartment construction boom, eclipsing even the post-recession boom of the early 1990s, although far fewer houses have been built this time around.
<a href="https://3.bp.blogspot.com/-VjQ48qj4NHU/WhhqQDIpq8I/AAAAAAAAnKg/eyFCJfPOSPscNdjqj93ghMJRqPEMfBGNQCLcBGAs/s1600/A.jpg" target="_blank"><img src="https://3.bp.blogspot.com/-VjQ48qj4NHU/WhhqQDIpq8I/AAAAAAAAnKg/eyFCJfPOSPscNdjqj93ghMJRqPEMfBGNQCLcBGAs/s640/A.jpg" width="640" height="394" data-original-height="831" data-original-width="1347"></a>
As we have seen in Perth since 2014, the long lead times mean that by the time projects are completed demand may have slowed significantly.
In fact, until relatively recently Western Australia was seeing the number of new dwelling completions exceed the growth in headcount, as population growth had slowed so dramatically, resulting in a surge of rental vacancies and falling rents. The city of Darwin went down a similar path.
Queensland has suffered from this dynamic too, albeit to a lesser extent. The good news for Brisbane landlords is that the Queensland economy, employment growth, and thus the three components of demographic change (natural growth, net overseas migration, and net interstate migration) are now aligning to create faster population growth. 
<a href="https://3.bp.blogspot.com/-oqk7AYTwwy4/WhhqPgZCVuI/AAAAAAAAnKc/VKtFnrAI48s2-ZhHd6JsQEtpu2i0EQR_wCLcBGAs/s1600/A1.jpg" target="_blank"><img src="https://3.bp.blogspot.com/-oqk7AYTwwy4/WhhqPgZCVuI/AAAAAAAAnKc/VKtFnrAI48s2-ZhHd6JsQEtpu2i0EQR_wCLcBGAs/s640/A1.jpg" width="640" height="388" data-original-height="829" data-original-width="1363"></a>
Meanwhile new apartment commencements are slowing to a crawl, helping to rebalance the market over time.
The Brisbane apartment market is heading back towards equilibrium eventually, then, but 2018 will nevertheless be a splendid year for renters, especially in some of these inner-city unit markets. 
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