<a href="https://www.apartments.com.au/developments/broadbeach-qld-4218">Broadbeach</a> offers plenty of reasons to live vertically, but moving from a substantial family home into an apartment can expose the compromises of high-density living. Privacy, room for guests and usable living space tend to matter more when an apartment is intended as a permanent home rather than an occasional coastal base.

A typical residential floor at <a href="https://www.apartments.com.au/new-apartments/the-eveleigh-broadbeach-7-9-surf-parade-broadbeach-qld-4218">The Eveleigh</a>, on Surf Parade,&nbsp;contains just four apartments. The 94-residence development by <a href="https://www.apartments.com.au/developers/hirsch-faigen">Hirsch &amp; Faigen</a> is predominantly made up of expansive three-bedroom homes, with a limited collection of half-floor penthouses above.

Across the apartment floors, <a href="https://www.apartments.com.au/architects/rothelowman">Rothelowman</a> has used the relatively limited number of residences to give each home greater access to natural light and outlook. Living spaces extend towards full-height glazing, while a series of bay windows frame selected views across the Pacific Ocean, city and hinterland rather than treating the building edge as a continuous wall of glass.

&nbsp;

[smartcode_project:default project_id=149670 project_image_fid=360965]

“The apartment floors deliver a collection of homes that embrace controlled outlook via a series of bay windows deliberately framing moments of view,” Rothelowman Director Kim Lowman said.

From outside, those projecting forms contribute to the tower’s faceted profile. Strong horizontal and vertical elements establish its proportions, while the changing position of the sun alters the light, shadow and reflection across the façade throughout the day.

The same attention moves inside the apartments, where the material palette combines warm timber, natural stone, metallic detailing and softer curved forms. Kitchens sit within the main living zone, with stone island benches, integrated joinery and European appliances, before the living areas extend towards the glazing and the outlook.

&nbsp;

[smartcode_project:default project_id=149670 project_image_fid=360981]

Three genuine bedrooms provide room to accommodate family and guests, while two secure car spaces and storage address some of the practical considerations that can become more noticeable when moving from a larger home. Feedback from the display suite has centred on the warmth and restraint of the interiors, with buyers commenting that the residences feel like homes rather than conventional coastal apartments.

A limited collection of half-floor penthouses occupies the upper levels, increasing the scale of the living spaces and adding private balconies and elevated finishes. From this position, the outlook extends between the ocean and hinterland.

Outside the private residences, The Eveleigh separates its shared spaces between the podium and rooftop. The podium is centred on wellness, with subtropical landscaping surrounding a swimming pool and pool terrace, yoga garden, private gymnasium, sauna and hot and cold plunge facilities. Landscaped retreats and pavilions provide additional places to sit away from the main recreation areas.

&nbsp;

[smartcode_project:default project_id=149670 project_image_fid=360966]

Higher in the building, a rooftop pavilion and private dining suite sit alongside resident lounge, barbecue and outdoor dining areas, opening towards panoramic views across the ocean, city and hinterland.

“Buyers are no longer just looking for an apartment, but a lifestyle where they can relax, reset, and enjoy a balanced way of living,” Hirsch &amp; Faigen Director of Sales Matt George said.

Interest to date has come from established owner-occupiers and interstate lifestyle purchasers, including buyers planning a future move to the Gold Coast. Many are coming from larger homes and want to reduce ongoing maintenance without giving up space for family and guests, privacy, two car spaces or the ability to entertain at home.

&nbsp;

[smartcode_project:default project_id=149670 project_image_fid=360969]

Much of that daily life can also take place beyond the building without requiring a drive. Kurrawa Beach and Pratten Park are an easy walk from Surf Parade, while Pacific Fair, Oracle Boulevard, The Oasis, restaurants, cafés, entertainment and public transport are also within walking distance.

The Eveleigh is Hirsch &amp; Faigen's fourth Gold Coast development since entering the market in 2021, following The Hemingway at Palm Beach, The Emerson at Kirra and Yves at Mermaid Beach. Each of the preceding projects sold out before completion.

“Broadbeach had been on our radar throughout our time operating on the Gold Coast,” the developer said. “Following our projects in Palm Beach, Kirra and Mermaid Beach, Broadbeach represented the natural next step for the business.”

The Surf Parade site brought together proximity to the beach, protected coastal outlooks and walkability to dining, shopping and recreation. Hirsch &amp; Faigen also identified the street as an emerging premium residential address, with enough separation from Broadbeach's busier destinations to retain a quieter environment at home.

The Eveleigh is now under construction by Maxcon, with completion forecast for mid-2028. Three-bedroom residences are currently available from $2.87 million.

[smartcode_project_cta:default project_id=149670]

Joel Robinson

The Eveleigh brings house-like apartments to Broadbeach

A long-stalled Campbelltown development site is back in play, with new plans for 139 apartments set to supersede a mixed-use scheme approved almost a decade ago but never built.

The new proposal for 28 Cordeaux Street would deliver 116 market and 23 affordable apartments in a part 14-storey building, bringing a substantial new project into a Campbelltown market where new apartment supply remains limited.

Plans have been filed over the 3,092 sqm corner site at Moore-Oxley Street, around 600 metres from Campbelltown Railway Station and the city-centre retail core.

The site already carries a mixed-use residential approval dating to 2016. Doroch Architects has now been engaged on a larger replacement scheme, which is progressing as a State Significant Development Application following a Housing Delivery Authority determination in August 2025.

The apartment mix comprises 39 one-bedroom, 72 two-bedroom and 28 three-bedroom residences. Two-bedroom apartments make up just over half of the project, while three-bedroom homes account for 20 per cent.

<img alt="First look: New 139-apartment plans revive long-stalled Campbelltown city centre site" data-entity-type="file" data-entity-uuid="136dd5b9-3791-4da6-9e31-76f533f5b4de" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Campbelltown%20da2.png?VersionId=LgOSy9nwf5u.MGswBBwaGGxuX8QpHSl_" />

Of the 139 apartments, 23 will be delivered as affordable housing under the in-fill affordable housing provisions of the Housing SEPP. The affordable component represents 15 per cent of the residential gross floor area and will be managed by a registered Community Housing Provider.

Doroch has sought to break the scale of the building into two distinct elements, with a masonry podium of around four storeys establishing the street edge before the residential tower steps back above.

The corner position has shaped that approach. Cordeaux Street faces toward the commercial and civic centre, while Moore-Oxley Street leads into the lower-scale residential neighbourhood to the south, and the design verification report describes the site as "bridging the commercial core to the north and established residential areas to the south."

The podium will be expressed predominantly in face brick, while the upper levels shift to brushed and grooved concrete cladding with darker metal detailing. Recessed sections, deep balcony edges and landscaping break down the upper form, with an approximately 11.8-metre setback to the northern boundary addressing the adjoining St Peters Anglican School.

<img alt="First look: New 139-apartment plans revive long-stalled Campbelltown city centre site" data-entity-type="file" data-entity-uuid="c8b3d2d3-c561-4bfc-a5d9-a68c0c10dac1" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Campbelltown%20da1.png?VersionId=AeAEyJU02Gk2k5noUj2StziCvdQ7fW4B" />

Campbelltown has been starved of new residential developments in the last decade.

The only other notable development set to come to market this year is ALAND's Queen Square, a mixed-use precinct on over two hectares that will comprise apartments above a vibrant ground-level retail and hospitality dining precinct.

First look: New 139-apartment plans revive long-stalled Campbelltown city centre site

First Look: Sherlock Construction pitches apartments for low-rise Deception Bay

Queensland builder-developer MAYD has revealed the first look at its major North Kirra beachfront development, lodging amended plans that reduce the number of apartments and increase the proportion of larger residences.

The project is planned across a substantial 4,742 sqm amalgamated site spanning seven lots at <a href="https://www.apartments.com.au/new-apartments/2-6-pacific-parade-bilinga-qld-4225">2-6 Pacific Parade</a> and 27-33 Golden Four Drive in Bilin​ga, directly opposite Nor​th Kirra Beach.

<a href="https://www.apartments.com.au/developers/mayd-group">MAYD</a> secured the site for $32.5 million in 2025, in what was one of the Gold Coast's largest property transactions of the year.

The development will be delivered across two stages, with the first stage carrying an estimated gross realisation value of around $360 million.

The latest amendments seek to reduce the overall apartment count and shift the project further toward the owner-occupier market, with larger residences designed for buyers wanting considerably more space than traditionally offered in a beachfront apartment.

The residential mix will include townhomes, oversized two-bedroom apartments, substantial three-bedroom residences and four-bedroom homes.

MAYD has appointed Cera Stribley to lead the architecture and interiors, with the Melbourne-based design practice drawing on the beachfront setting through a series of ocean-facing terraces and heavily landscaped balconies.

Strong horizontal forms and curved balconies will define the exterior, with subtropical landscaping integrated throughout the building to soften the built form and increase the connection between the residences and the beachfront.

The project will also include an extensive collection of resident wellness and lifestyle facilities, continuing the broader shift across the Gold Coast's luxury apartment market toward larger homes supported by resort-style amenity.

<img alt="MAYD" data-entity-type="file" data-entity-uuid="d1bcbb05-e659-4b47-8bd4-1e595315e2ad" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-27%20at%202.05.03%E2%80%AFPM.png?VersionId=jj0XEud1X1DuLt7_KyElhjMdZGOXmLHP" />

MAYD Founder Todd Mould said North Kirra was increasingly appealing to buyers attracted to the more established, lower-density character of the southern Gold Coast.

"North Kirra presents one of the most compelling luxury residential opportunities currently emerging in Australia, combining absolute beachfront with the character and authenticity that buyers are increasingly seeking, and the same sense of tight-knit community that defined Burleigh and Currumbin perhaps 10 or 15 years ago," Mould said.

"With Gold Coast Airport on its doorstep, it also offers a level of accessibility that broadens its appeal across almost every market demographic."

The project comes as the southern Gold Coast continues to attract an increasing share of high-end apartment development and buyer activity.

Kirra in particular has emerged as one of the region's more tightly held beachfront markets, with its relatively low-density character, established surf and hospitality scene and proximity to Gold Coast Airport differentiating it from the higher-density markets further north.

Mould said those characteristics had informed the approach MAYD and Cera Stribley had taken to the project.

"We've worked closely with Cera Stribley to create a vision that is deeply connected to its surroundings," he said.

"Inspired by the coastline itself, the architecture has been shaped around space, privacy and resort-style living, creating a collection of homes that reflects the next generation of luxury on the southern Gold Coast."

MOTIV Managing Director Carly Cottam, who has been appointed to market the project, said buyer attention had continued to move south along the Gold Coast.

"Purchasers who may once have defaulted to Broadbeach, Main Beach or Surfers Paradise are increasingly recognising the value of a genuine beachfront location that offers lower density, strong amenity and a more established sense of community," Cottam said.

"Kirra has a powerful combination of growing demand and genuine scarcity. Beachfront supply is inherently constrained, the area remains relatively low density, and buyers are increasingly placing a premium on locations that feel established, uncrowded and authentic rather than heavily developed."

Cottam said the proximity to Gold Coast Airport was also proving increasingly important for interstate and second-home buyers.

"Being minutes from Gold Coast Airport makes it particularly compelling for interstate buyers, frequent travellers and second-home purchasers who can access an authentic coastal lifestyle almost immediately after stepping off a flight."

The acquisition takes MAYD's active development portfolio to more than $500 million, with the North Kirra project representing one of its largest undertakings to date.

MAYD is targeting an early 2027 launch.

First look at MAYD's North Kirra mixed-use precinct

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Castle Hill, the longtime hub of the Hills District, has been one of the major beneficiaries of Sydney's Metro expansion, with improved connectivity helping drive continued population growth, development and buyer demand across the Hills District.

But despite that growth, the suburb has seen relatively few major new apartment projects brought to market over the past 18 months.

Hills District developer Reve Group is looking to fill that gap with <a href="https://www.apartments.com.au/new-apartments/nova-r-ve-castle-hill-2-garthowen-crescent-castle-hill-nsw-2154">Nova Rêve</a>, a major new mixed-use precinct on the corner of Garthowen Crescent and Old Castle Hill Road, a short walk from Castle Hill Metro Station and Castle Towers.

[smartcode_project:default project_id=152737 project_image_fid=377679]

The project will comprise three residential towers alongside a hotel, restaurants, cafes and a skybar, more than 1,600 sqm of ground-floor retail and almost an acre of landscaped gardens.

It represents the largest project undertaken by Reve Group, the development arm of the Kassis family, which has been building across the Hills District for more than 30 years through Kassis Homes.

[smartcode_project:default project_id=152737 project_image_fid=377675]

Nova Rêve also represents a significant step up from the family's first apartment development, Grand Rêve, which was delivered nearby on Garthowen Crescent.

Grand Rêve introduced larger, house-like apartment layouts and premium inclusions including Wolf and Sub-Zero appliances to the Castle Hill market.

Nova Rêve takes that approach to a precinct scale, combining the residential component with hospitality, retail and substantial public and resident landscaping.

[smartcode_project:default project_id=152737 project_image_fid=377685]

Reve Group Managing Director Sam Kassis said the project reflected the family's three decades of building in the Hills, which has evolved from trophy homes on quarter-acre blocks to larger-scale apartment development.

"Grand Rêve was our first apartment project here and it showed us what this pocket of Castle Hill could be. Nova Rêve is the refinement of that idea: not just apartments, but a place the whole suburb can use," Kassis said.

A key part of that approach is the hotel, which has been designed to operate as an amenity for the wider Castle Hill community rather than solely hotel guests.

It will include restaurants, cafes, skybars and all-day dining, alongside conference and event facilities catering to business functions, community groups and private events.

At ground level, more than 1,600 sqm of shops and cafes will open onto the surrounding streets and landscaped areas.

Almost an acre of gardens designed by Land and Form Studios will run through the precinct, incorporating pathways, seating, barbecue areas and children's play spaces.

[smartcode_project:default project_id=152737 project_image_fid=377680]

Reve Group's Romio Georges said creating an active ground plane had been central to the planning of Nova Rêve.

"There are gardens with pathways, barbecues, seating and play areas, shops and cafes opening onto the street, and a hotel with restaurants and a skybar that anyone in Castle Hill can walk into," Georges said.

The project's elevated position on one of Sydney's highest ridgelines will also provide apartments with outlooks toward the Sydney skyline, surrounding parkland and the Blue Mountains.

More than 80 per cent of the apartments will occupy corner positions, with Turner responsible for both the architecture and interiors.

&nbsp;

[smartcode_project_cta:default project_id=152737]

<h3 data-end="3697" data-section-id="q3n5ak" data-start="3672">&nbsp;</h3>
</main>

Nova Rêve arrives as Reve Group bets on Castle Hill's next growth phase

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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The Ryan family have sold the Republic Hotel on the corner of Pitt and Bridge streets in Sydney's CBD to international property fund in an off-market deal.
The deal was settled for an undisclosed sum through Ray White's Andrew Jolliffe.
It comes on the heels of another high-profile pub sale. The Justin Hemmes-led Merivale recently snapped up Vic on the Park Hotel in Sydney's Inner West in a deal estimated to be between $22 million to $25 million.
Republic Hotel recently underwent a multi-million dollar upgrade, including the introduction of a rooftop bar.
<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/2017/10/20/Republic.jpg" alt="">
The deal, concluded this week, sees the well-known hotelier Patrick Ryan enter into an agreement to lease back the business operation of the asset after 17 years of ownership of the four-storey 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/2017/10/20/RepublicHotel3.jpg" alt="">
Jolliffe, who would not be drawn on price, or the identity of the purchaser, believes there is strong interest in AAA Grade property in top Australian cities. 
"Sydney is enjoying a demonstrable surge in infrastructure investment, and astute investors right throughout our Asia Pacific database have highlighted this point,” he said.
"We have averaged an exit yield of approximately 8% for our clients when considering our last 20 transactions this year, and accordingly restate our view that the considered argument for further yield compression remains likely.” 
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jonathanchancellor-7SQnKwU6yx

The Ryan family sell Republic Hotel in Sydney CBD to global property fund  

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<div>Since the introduction of new incentives, the number of dwellings financed by first homebuyers bolted to the <a href="https://petewargent.blogspot.co.uk/2017/10/record-high-for-housing-finance" target="_blank">highest level in 92 months</a> in August 2017, so households are now being formed apace, especially in the two most populous states. </div>
 
<div class="separator"><a href="https://2.bp.blogspot.com/-_VSHlNMkc4A/WeeUsZWsR8I/AAAAAAAAmrk/97SRzapVQb4Xbkaw1Z_a4o5h3Edyuz0MQCEwYBhgL/s1600/FHBs.jpg"><img src="https://2.bp.blogspot.com/-_VSHlNMkc4A/WeeUsZWsR8I/AAAAAAAAmrk/97SRzapVQb4Xbkaw1Z_a4o5h3Edyuz0MQCEwYBhgL/s640/FHBs.jpg" width="640" height="390" data-original-height="834" data-original-width="1365"></a></div>
<div> </div>
<div>There's much, much more to household formation than just this, though.</div>
<div> </div>
<div>Recall I showed from the 2016 Census figures that Australia's migration programme has led to a <a href="https://www.smh.com.au/business/the-economy/demographic-tsunami-will-keep-sydney-melbourne-property-prices-high-20170629-gx1onj" target="_blank">demographic tsunami</a>, being millions of 25 to 32 year-olds in Australia, about to swamp the housing markets, heavily focused on Sydney and Melbourne. </div>
<div> </div>
<div>Separate figures reporting the <a href="https://petewargent.blogspot.co.uk/2017/06/migrants-flock-to-capital-cities-stay" target="_blank">characteristics of recent migrants</a> showed that it's overwhelmingly now the capital cities that are about to be swamped, because new migrants flock to the capital cities, and end up staying there. </div>
<div> </div>
<div>Many first-timers are electing to rent where they live, and are instead buying investment properties as their first step onto the ladder, so the real number of first-time buyers is tracking at close to the long run average. Plus there's the trend towards co-ownership, as <a href="https://www.weeklytimesnow.com.au/real-estate/victoria/cobuying-a-solution-to-the-biggest-challenge-facing-buyers/news-story/e4fe88a599069d749765595101f2ba80" target="_blank">recently reported</a>. </div>
<div> </div>
<div>The 'bank of Mum &amp; Dad'</div>
<div> </div>
<div>Perhaps as significantly, there are the parents buying homes for their kids, which is new household formation not reported in the first homebuyer finance numbers. </div>
<div> </div>
<div>We are now seeing this going on practically all the time at auctions in Sydney and Brisbane - to be blunt, it pushes up prices - and evidently it's a big thing down in Melbourne and Geelong too. </div>
 
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<div>
 Cate Bakos of <a href="https://www.catebakos.com.au/" target="_blank">Cate Bakos Property</a> in Melbourne notes that it's not only the first homebuyer sector that's being impacted by inherited money: "Parents are impacting competition levels significantly. Firstly in the first homebuyer concession range - which is already screaming along with heightened borrowing capacity - and secondly the upgrader stakes. We are seeing and hearing of parents paying it forward with inheritance money." Affordability has been a drag on household formation to some extent since the financial crisis. However, this is projected to be more than offset by an ageing population - empty-nesters and downsizers - more divorces, more separations, widowhood, and a nascent yet growing trend towards <a href="https://www.abs.gov.au/ausstats/abs@.nsf/Latestproducts/3236.0Media%20Release12011%20to%202036?opendocument&amp;tabname=Summary&amp;prodno=3236.0&amp;issue=2011%20to%202036&amp;num=&amp;view=" target="_blank">lone-person households</a> living in apartments. And that's before we mention all the empty dwellings. Over the longer term, the ABS forecasts that the number of households will increase by well over 50 per cent to 12.7 million over the 25 years to 2036.</div>
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pwargent-M4siyDbqQY

First home buyer numbers bolt

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The Parramatta office market will struggle to keep up with demand due to an influx of white collar workers and undersupply in the area, according to Colliers International. 
The real estate agency cited a Deloitte report — ‘Designing Western Sydney’ — that emphasises the need to create 200,000 new jobs in the region by 2020, to address unsustainable worker transport challenges. 
Most of the demand for space is likely to come from the catalyst industries such as health, higher and international education, professional services (in particular through the financial services sector and public sector) and cultural and creative industries, the report said.
If participation and education attainment levels in the region are improved, these workers could contribute an additional $32 billion to Australia's economy, the report says.
Western Sydney is the country’s third largest region in terms of contribution to GDP and one in 10 Australians already live in the region with one million more expected by 2031.
A large proportion of demand for space is likely to come from the catalyst industries such as health, higher and international education and professional services, said Theo Psychogios from Deloitte Access Economics.
“Parramatta, labelled ‘Sydney’s Central city’, remains the main white collar employment catchment area for the Greater Western Sydney region,” said Kristina Mastrullo, associate director of research at Colliers International. 
As Deloitte expects an additional 200,000 jobs created in Western Sydney by 2020, Parramatta is be the area that will host a large majority of these workers.
“With the level of pre-commitment to be experienced, we expect the commercial core of Parramatta to expand through new development supply to accommodate these future workers,” said Mastrullo.
Up to 2,400 white collar workers have been added to the Parramatta office market within the last 12 months, according to Colliers International research.
“As a result of government decentralisation, lack of new supply, and the displacement of tenants due to conversion to other uses, Parramatta’s total vacancy is now one of the lowest nationally,” said Alex Brown, director of Office Leasing at Colliers International, Parramatta.
 “With the vacancy rate in the first half of 2017 at 4.3%, and A Grade vacancy remaining at zero percent, tenants have been faced with limited choice. This has resulted in landlords being able to achieve increased net effective rents throughout 2017.”
Brown cited an example where one landlord secured a rent of $420 per sqm net in March 2017, and then in July 2017 secured rents of $480 sqm net for similar space in the same building which was “a considerable increase in a short space of time.”
New supply in Parramatta has been limited. The first stage of 1 Parramatta Square opened in January 2017, being fully committed to the University of Western Sydney.
Other developments such as 105 Phillip Street (picture above) and 3 Parramatta Square have been 100% pre-committed from non-Parramatta tenants. These developments, projected for completion between 2019 and 2021, will bring an additional 149,550 sqm of prime space to the office market, 104,000 sqm of which is pre-committed. 
“Parramatta is currently lacking in prime quality space and with this level of pre-commitment over the next 3 years, vacancy is only expected to tighten. Over the next three years to January 2022, total market vacancy is expected to reduce to sub-3%, from a current vacancy of 4.3%. This is forecast to cause an increase in rents, especially in B grade stock as prime grade assets are secured prior to completion,” said Kristina Mastrullo.
Although the market remains tight, Parramatta Council is attempting to solve the issue of undersupply in the area.
“Parramatta Council’s recent decision to modify 8 Parramatta Square’s use from Residential to 71,000 square meters of office space reflects the confidence in the commercial leasing market,” said Alex Brown.
“Notable vacant space is likely to become available in 2020 and 2021 with several tenants expected to relocate to new opportunities including Parramatta City Council, The Office of State Revenue, and Department of Planning and Environment, which will provide up to 15,000 square metres of backfill space. CBA is due to vacate 101 and 150 George Street in 2022 creating approximately 40,000 square metres of backfill space,” Alex Brown said.
“This low vacancy rate has had a flow-on effect to other Western Sydney markets including Rhodes and Sydney Olympic Park. As a result many tenants that we are looking after are being required to consider these neighbouring markets due to the lack of availability in Parramatta.”
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Parramatta office market likely to struggle to keep up with demand: Colliers

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A fully leased childcare centre in Mornington has been listed for auction on November 17.
The <a href="https://www.realcommercial.com.au/property-retail-vic-mornington-502594294" target="_blank">18-20 Fleet Street</a> property comprises a 400 sqm building on a 1,200 sqm  site and is close to the town centre. 
The property will be sold subject to a five-year lease at a current net annual rental of $58,000 with 4 per cent annual increases.
It is being marketed by Teska Carson’s Fergus Evans and George Takis.
“The centre has been built in a perfect location for working parents looking for an easily accessible childcare centre and one which offers the best facilities for their children,’’ Evans said. 
He added that said the “entry level’’ investment offered a secure lease profile in a government-backed industry in an excellent location and with the potential for future development.
Takis said Mornington had recently emerged as one of the most sought after bayside investment locations in Melbourne.
“Childcare is one of Australia’s strongest growth industries and that fact will not be lost on the growing local investment community,” Takis said. 
Earlier this month, a securely leased retail property at 185 Main Street in Mornington sold at auction for $2.2 million on a yield of 3.86 per cent.
Several weeks earlier a retail property at 157 Main Street sold at auction for $2.9 million on a 3.52 per cent yield.
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Childcare centre in Mornington to go under the hammer

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Commercial property auctions saw their second week of extremely subdued sales activity, according to the CoreLogic preliminary results.
The last week with a substantial number of preliminary observations was the week ending 22nd of September, which saw 61 auction events. 
The week ending the 6th of October saw just 8 auctions events collected across Australia.
Of the 8 properties that went to auction, 4 were in Victoria, 3 were in Queensland and 1 was in South Australia.
Overall, there were 6 successful sales. While this suggests a high clearance rate of 75%, there are not enough observations to get a sense of demand in this space.
The highest of these was a $2.1 million office and warehouse space in Ashmore, Queensland. The total sales value of properties at auction was $7.3 million, suggesting an average sale price of $1.2 million The range of prices was $305,000 to $2,075,000. 
<a href="https://www.corelogic.com.au/sites/default/files/styles/article_image_570w_/public/2017-10/2017_10_06_auction_graph.gif" target="_blank">Click to enlarge</a>
<img src="https://www.corelogic.com.au/sites/default/files/styles/article_image_570w_/public/2017-10/2017_10_06_auction_graph.gif" alt="2017-10-12--auctioncommercial" width="570" height="374">
The table below indicates National Auction Clearance Rate figures.
<a href="https://www.corelogic.com.au/sites/default/files/styles/article_image_570w_/public/2017-10/2017_10_06_auction_table.gif" target="_blank">Click to enlarge</a>
<img src="https://www.corelogic.com.au/sites/default/files/styles/article_image_570w_/public/2017-10/2017_10_06_auction_table.gif" alt="2017-10-12--commercialauctiontable" width="570" height="205">
 The results came ahead of the CBRE Melbourne auction which saw a 50 percent success rate, down on its inaugural 100 percent auction several weeks ago.
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j.ballantyne1990-6AQqhLzZaK

Commercial property auctions weaken too 

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GUEST OBSERVER
Where we live can play a big part in ageing well, largely because of the links between physical activity and wellbeing.
Research shows that two-thirds of Australians prefer to age in place. That is, we want to live independently in our homes for as long as we can. Our neighbourhoods and their design can then improve or hinder our ability to get out of the house and be physically active.
The rapid ageing of Australia’s population only adds to the importance of neighbourhood design. In 2016, 15% of Australians were aged 65 or older. That proportion is projected to double by 2056.
These trends present several social and economic challenges, particularly for the health sector. Designing neighbourhoods in ways that promote physical activity can help overcome these challenges.
Eight simple steps
The following is a short list of evidence-based steps local and state governments can take to assist older people to be physically active. These involve minor but effective changes to neighbourhood design.
<ol>
<li>Improve footpaths: Research indicates that older people have a higher risk of falls. Ensuring footpaths are level and crack-free, and free from obstructions, will encourage walking among older people – especially those with a disability. 
</li>
<li>Connected pedestrian networks: Introducing footpaths at the end of no-through-roads and across long street blocks reduces walking distances to destinations. This makes walking a more viable option. 
</li>
<li>Slowing traffic in high-pedestrian areas: Slowing traffic improves safety by reducing the risk of a collision. It also reduces the risk of death and serious injury in the event of a collision. 
</li>
<li>Age-friendly street crossings: Installing longer pedestrian crossing light sequences gives older pedestrians more time to cross, and installing refuge islands means those who walk more slowly can cross the street in two stages. 
</li>
<li>Disabled access at public transport: Although a form of motorised transport, public transport users undertake more incidental physical activity compared with car users. This is because they walk between transit stops and their origins and destinations. Improving disabled access helps make public transport a viable option for more older people. 
</li>
<li>Places to rest: Providing rest spots such as benches enables older people to break up their walk and rest when needed. 
</li>
<li>Planting trees: Planting trees creates more pleasant scenery to enjoy on a walk. It also provides shade on hot days. 
</li>
<li>Improving safety: Ensuring that streets are well-lit and reducing graffiti and signs of decay are likely to improve perceptions of safety among older people.</li>
</ol>
Why physical activity matters
Physical function – the ability to undertake everyday activities such as walking, bathing and climbing stairs – often declines as people age. The reason for this is that ageing is often accompanied by a reduction in muscle strength, flexibility and cardiorespiratory reserves.
Regular physical activity can prevent or slow the decline in physical function, even among those with existing health conditions.
Middle-to-older aged adults can reduce their risk of physical function decline by 30% with regular physical activity (at least 150 minutes per week). This includes recreational physical activity, like walking the dog, or incidental physical activity, such as walking to the shops or to visit friends.
By making minor changes as outlined above, the health and longevity of our elderly population can be extended. Such changes will help our elderly age well in place.
Jerome N Rachele, Research Fellow in Social Epidemiology, Institute for Health and Ageing, Australian Catholic University; Jim Sallis, Professorial Fellow, Institute for Health and Ageing, Australian Catholic University, and Emeritus Professor, Department of Family Medicine and Public Health, University of California, San Diego, and Venurs Loh, PhD Candidate, Institute for Health and Ageing, Australian Catholic University
This article was originally published on <a href="https://theconversation.com" target="_blank">The Conversation</a>. Read the <a href="https://theconversation.com/eight-simple-changes-to-our-neighbourhoods-can-help-us-age-well-83962" target="_blank">original article</a>.
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Eight simple changes to our neighbourhoods can help us age well

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The publicly listed ALE Property Group (ALE) is seeking to sell the Berwick Inn Hotel.
It is leased to Australian Leisure &amp; Hospitality Group (ALH), which is 75% owned by Woolworths and is the largest operator of pubs in the country.
It holds the lease until November 2028, with four further 10-year options to extend to 2068.
The two-storey venue is located on a prominent 4,166 square metre site and comprises a bar, bistro, beer garden and gaming facilities as well as a large 50 space on-grade carpark. 
CBRE agents Daniel Dragicevich, Scott Callow and Justin Dowers have been appointed to sell the property via tender.
"Typically, hotels with the blue chip tenant covenant of ALH trade at between 100-150 basis points sharper than those with private tenants," Dragicevich said.
"ALH leased properties have actually been in very short supply in recent times, so a keenly fought sales campaign is expected."
The Melbourne pub listing marks the first property ALE has put to the since its 17 venue sell down in 2009-2010.
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ALE Property Group list Berwick Inn Hotel

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A South Melbourne icon, the Water Rat Hotel, is being offered for sale with offers due 2 November. 
Built in 1858, the popular venue located at 256 Moray Street was previously named Druids Hotel and also the Freemason’s Hotel.
The venue has a rich history, being the location of the 1973 murder of Painters and Docker Union secretary Pat Shannon. 
The 513 square metre venue underwent major renovations and opened as the Water Rat Hotel in 1991, where it was one of the first hotels in South Melbourne to introduce outdoor seating. 
The venue was expected to fetch a price in the high $3 million range.
It had no pokies.
Its present owner bought the hotel four years ago and the liquor licence is managed by a private company.
CBRE’s Justin Dowers, Will Connolly and Tim Last, conjunctionally with Burgess Rawson’s Terry Board and Nicholas Breheny, have been appointed to market the property. 
The Water Rat Hotel is being marketed as providing potential for investors, developers and future owner occupiers. 
Located on a 314 square metre site, the Water Rat Hotel is a two-storey venue comprising an outdoor seating area, rooftop terrace, two separate bar areas and function space on the first floor.
With frontages to Park and Moray streets, the property benefits from a position within walking distance to the Clarendon Street retail precinct. 
South Melbourne has the third highest rate per square metre for residential property in Melbourne, sitting closely behind Middle Park and Albert Park, with a rate per square metre of $10,809/square metre and a median house price of $1,700,000, CBRE says.
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South Melbourne's iconic Water Rat Hotel listed

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A Coles-anchored neighbourhood shopping centre in Cairns has sold to Shopping Centres Australia for $24.75 million. 
Sugarworld Shopping Centre is a convenience-based neighbourhood centre, 15 km south of the Cairns CBD.
Apart from Coles, it has 12 specialty retailers and a Coles Express service station pad site.
The deal was negotiated by JLL’s Sam Hatcher and Jacob Swan on behalf of IRAPT.
“The Coles Supermarket (also encompassing Liquorland and Coles Express outlets) accounts for 66% of the shopping centre’s fully leased net income, and has a strong 3.7% MAT year on year growth,” said Sam Hatcher.
The centre is expected to continue from the forecast 3.7% average annual population growth in the main trade area till 2031.
National director of Retail Investments, Jacob Swan said, 
It has a 10.91 year WALE (by income) while Coles is on a 20-year lease, offering long-term secure income.
Neighbourhood transaction volumes in Queensland increased by 15% in the last 12 months to September 2017 despite being 10% lower on a national basis over the same period.
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Sugarworld Shopping centre in Cairns changes hands for $24.75 million

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The Rockpool Dining Group is set to open his first foreign premises in Los Angeles.
The development comes ahead of leading restaurant chain Rockpool Dining Group's possible stockmarket listing, The Australian Financial Review reported.
Founded by celebrity chef Neil Perry, who last year sold the Rockpool empire to private equity-backed Urban Purveyor Group, the restaurant group has secured a site not far from Melrose Avenue in West Hollywood. 
Rockpool's previous plans for foreign site -- Spice Temple Dubai -- fell through in 2014.
The top chef’s two new Sydney restaurants, the Jade Temple at 11 Bridge Street and Rosetta at Grosvenor Square (picture above), were hatted at the recent Good Food guide gongs.
Rockpool Dining Group had recently announced it was bringing the much-loved Melbourne Italian restaurant, Rosetta Ristorante, with menus by chef Neil Perry, as part of Grosvenor Place’s $20 million piazza redevelopment.
There has been talk of a trade sale by Quadrant Private Equity, the AFR speculates.
Last November in a game changing move for the Australian hospitality industry, Quadrant Private Equity backed Urban Purveyor Group and Rockpool Group combined forces to create a multi-concept, dining and entertainment powerhouse, Rockpool Dining Group.
The move firmly establishes Rockpool Dining Group as the most dominant player in the Australian hospitality industry, with annualised revenues in excess of $350 million.
Rockpool Dining Group’s portfolio includes 47 venues, 15 dining brands, and over 3000 employees across four states. 
Rockpool signalled it plans expand to more than 80 venues by the end of CY 2017, including the group’s first venues in London.
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