<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;

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“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.

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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.

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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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Sydney based national wedding dress retailer, The Sposa Group, has set up shop in Melbourne’s eastern suburbs having agreed terms on the lease of a retail building on Glenferrie Road in the heart of Hawthorn’s popular retail precinct.
Located within walking distance of Glenferrie Railway Station and Swinburne University, the 622-624 Glenferrie Road property comprises a single level 170 square metre retail/showroom space with 11 metres frontage and rear access to on-site parking.
According to Teska Carson’s Tom Maule, who brokered the deal, the property was leased on a three year term at $110,000 per annum net or $650 a square metre.
He said the tenant had sought a property in a strongly performing retail precinct within Melbourne’s coveted inner east and with the benefit of extensive main street exposure.
"This is a prime address for fashion retailing and one which has attracted numerous national retailers including Fonda, Huxtaburger, Coles, Chemist Warehouse, Woolworths and a wide variety of specialty retailers.
"The property benefits from excellent exposure to one of Melbourne’s wealthier suburbs with very good transport access and strong growth prospects,’’ Mr Maule said.
The lessor was a private investor.
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j.ballantyne1990-6AQqhLzZaK

The Sposa Group takes Glenferrie Road lease 

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Inner Sydney's historic three storey Victorian Flemish style building in Newtown, The Trocadero, is on the market through Colliers International and Kellys Commercial Group.
The property at <a href="https://www.realcommercial.com.au/property-offices-nsw-newtown-502556094" target="_blank">69-77 King Street</a> features 1,700 sqm of internal space on a land parcel of 1,108 sqm. Tenants include CanTeen.
James Cowan, Executive Investment Services at Colliers International said recent comparable sales in the area suggest the market price to be well above $10 million.
“This building is a rare opportunity to acquire a community landmark in a tightly held precinct, nearby to what is becoming Australia’s central Education and cultural Hub,” he said.
“The property certainly falls within the trophy asset category, originally being built in the late 1880’s as a roller skating rink and since that time has contributed greatly to the nineteenth century streetscape of King Street, Newtown, being one of the most elaborate facades on the street.
“The added benefit of this property, and what makes it unique, is the versatility in occupation and generous returns it offers. We are expecting an excellent result for the vendors, who have held the title to the property since the mid 1980’s’.
Matthew Meynell, head of Investment Services, Australia for Colliers International, said they are witnessing huge demand in the city fringe for creative office space conversions, as emphasized by the recent purchase of a Chippendale warehouse at 14-16 Buckland Street for $11.25m to UTS.
“We expect to see high net worth individuals, property syndicates and institutions continue to seek out land banking opportunities such as that of 69-77 King Street, Newtown to future proof their land area and enjoy the benefits the inner west and city fringe has to offer."
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jonathanchancellor-7SQnKwU6yx

The Trocadero historic trophy heritage building for sale in Newtown

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A fully leased commercial office building in Sydney’s CBD and overlooking Darling Harbour is set to hit the market, while another opposite Hyde Park has been listed.
The building at <a href="https://www.realcommercial.com.au/property-offices-nsw-sydney-501644761" target="_blank">160 Sussex Street</a> is a renovated 15-storey office asset comprising 8,269.6 sqm of net lettable area on an 853.6 sqm site.
The building was constructed in 1992 and has an elegant heritage façade while incorporating modern office accommodation.
It last traded for $51.2 million in 2015, according to Corelogic RP Data.
It offers a Weighted Average Lease Expiry (WALE) of 3.26 years (by income) with a net income of nearly $4.6 million.
Vacancy rate in the Sydney CBD office market has remained the lowest among the national capitals, helping drive strong growth in both capital values and rental growth, according to the latest research data from Savills.
With vacancy currently at a low of 5.9 per cent and expectations of further tightening over the next two years as net supply remains negative, rents have grown in double digits over the past two years and risen to record levels, according to Savills, which is partnering with Colliers International to market the freehold B-Grade commercial office building. 
Given forward indicators and a distinct lack of short term supply, this trend appears to have further to run, while investor demand for quality assets remains strong in the Sydney CBD, particularly from Asian investors, despite concerns over tightening capital controls.
The marketing is being done by Graeme Russell, Simon Fenn and Ben Azar of Savills and Vince Kernahan, Tom O’Neill and James Barber of Colliers International.
The property is being sold through an expressions of interest campaign closing November 2.
The vendor is local property investor, Stephen Burcher, of the Burcher Property Group.
The property is fully leased with major tenant Education Centre of Australia (ECA) occupying 46 per cent of the building. Other major tenants include Rankin Ellison Lawyers, Fortinet International, Dual Australia, Trippas White Group, Turner Freeman Lawyers and Health Care Australia.
The CBD's Western Corridor precinct where the building is located has the highest net effective rental growth, according to Graeme Russell of Savills Australia.
“What is happening within the Western Corridor precinct is changing the dynamics of the Sydney CBD. New construction worth billions in office, residential, hotel, transport, infrastructure and entertainment developments in the area gives Sydney a new focal point," said Russell.
“The commitment by both public and private sectors promises that this precinct will bring a new standard of working and living to the area with 160 Sussex Street perfectly positioned to benefit from this development activity” he said.
Vince Kernahan of Colliers said more than $6.5 million has been spent on services and refurbishment works throughout the building since 2012.
Meanwhile, a freehold corner office tower opposite Sydney CBD’s Hyde Park has also come to the market.
Located at <a href="https://www.realcommercial.com.au/property-offices-nsw-sydney-501680013" target="_blank">299 Elizabeth Street</a>, on the corner of Elizabeth and Liverpool streets, the property offers access to major retail destinations such as World Square, Westfield Shopping Centre, QVB, Chinatown and Darling Harbour Live.
 <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/2017/09/20/299ElizabethSt.jpg" alt="">
The building comprises nearly 5,974 sqm of net lettable area with ground-floor retail space. It is nearly fully leased.
It also has direct access to the underground Liverpool Street entrance to Museum Train Station. 
The listing agents are Knight Frank’s Dominic Ong, Andy Hu and John Bowie Wilson along with JLL’s James Aroney and Steven Tsang.
They are acting on behalf of a private Asian investor and the property will be sold via an international expression of interest campaign starting September.
Knight Frank’s Dominic Ong said investment demand was extremely high in the Sydney CBD. 
“There remains a lot of capital chasing solid assets in Australia. We are expecting interest from local and offshore buyers, including syndicates and high net worth individuals,” he said.
“The high profile corner is directly opposite Sydney’s Hyde Park and is an appealing investment package due to its current level of occupancy and diversity of income through the retail and commercial tenancies,” added JLL’s James Aroney.
The building recently underwent a $1.55 million upgrade and is nearly fully leased – primarily to legal occupiers – due to its proximity to the Local &amp; District Court within the Downing Centre.
 
 
 
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Sydney CBD building overlooking Darling Harbour listed: Savills

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CBD markets for capital cities, bar Sydney and Melbourne, are seeing improving rental conditions though their growth rates are low compared to the two biggest cities, according to Colliers International’s CBD Office research and forecast report.
Sydney and Melbourne have benefitted from a “hold on supply” and consistently strong demand, pushing office rents higher and higher. 
Over the year to June 2017, prime grade face rents grew by 7.8 per cent in Sydney, and 14 per cent in Melbourne. 
Population growth in New South Wales and Victoria has been the key catalyst in the market’s “perfect storm” conditions, with migration figures well above their 10-year averages in both states fuelling strong white collar job creation – but the Colliers report revealed that office supply will be constrained during this time of strong demand.
Colliers International’s national director of Research, Anneke Thompson, said office supply for the next 12 months was “even more ominous”.
“We’re forecasting the Sydney CBD office market to contract by 50,000 sqm throughout the year to July 2018, and the Melbourne CBD to reduce by circa 5,000 sqm, based on the supply that we know will enter the market and forecast withdrawals,” she said.
The story is not as bright for other capital cities.
Brisbane appears to be in recovery mode, with a solid level of premium and A-grade office leasing deals completed throughout the first half of 2017, Colliers noted.
In line with this comeback, the vacancy rate is forecast to decline to 13-14 per cent by January 2019.
A major development was QSuper signing a heads of agreement with Shayher Group to negotiate a lease for its 300 George Street office building, which is due for completion mid-2019.
In Adelaide, vacancy is starting to fall with the market recording its highest net absorption figures since January 2014.
Net absorption in the six months to July was 4,624 sqm, while the annual figure was 6,016 sqm.
This has seen vacancy fall ever so slightly to 16.1 per cent, down from 16.2 per cent in January 2017, said Colliers.
The small decline can be partially attributed to the remainder of the recently refurbished 1 King William Street being added back into supply.
Meanwhile, Perth CBD is also seeing some stability in the office leasing market, with vacancy falling to 21.1 per cent.
Net absorption is being driven by tenants’ flight to quality and new investment spend into increasing Western Australia’s output capacity of iron ore.
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CBD office rental markets improving in Brisbane, Adelaide and Perth: Colliers 

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The new Parramatta office complex that will house the New South Wales Department of Education offices has 'topped out' and is expected to be complete by March 2018.
The department will have 1,800 employees working there.
The topping out ceremony on Monday of <a href="https://www.realcommercial.com.au/property-offices-nsw-parramatta-502320926" target="_blank">105 Phillip Street</a> was attended by Dr Geoff Lee, State Member for Parramatta along with senior executives of Dexus and Charter Hall.
The building has a fit-for-purpose design that focuses on its occupants, according to a media release. 
It is being developed by Dexus with Built as the builder. The property is owned by Charter Hall. Dexus will manage the property after its completion.
<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/2017/09/19/PhilipSt2.jpg" alt="">
Dexus recently announced three new tenancy commitments at The Axxess Corporate Park in Mount Waverley, following upgrades to the properties by the property group.
It will “essentially become a vertical community”, comprising 25,000 sqm of A-Grade office space and amenities that include a rooftop terrace with a communal outdoor dining area and sports court.
“The topping out is a significant milestone in the development of 105 Phillip Street. This development strongly supports Parramatta’s growth as a place to invest and to do business, while delivering a world-class, fit-for-purpose office space for our customer, the New South Wales Department of Education,” said Ross Du Vernet, chief investment officer at Dexus.
Dr Geoff Lee, State Member for Parramatta said it was the start for thousands of jobs coming to Parramatta. 
“Not only is Parramatta the capital of Western Sydney, it is the capital of education,” he added.
The building is close to transport links and incorporates end of trip facilities to complement the workspace. 
It has also achieved a 6-star Green Star Design rating, the first of its kind for a building in Parramatta and is expected to receive a 6-star Green Star As Built rating post completion and 5 star NABERS Energy rating.
As part of the project, the urban landscape will also undergo a makeover, replacing the plaza with a landscaped through site link between Phillip and George Streets, creating a connection with the streetscape.
 
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105 Phillip Street Parramatta tops out: Dexus

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A triple block site with development prospects in picturesque Palm Beach on the Gold Coast has been listed.
The 1,215 sqm parcel at <a href="https://www.realestate.com.au/property-residential+land-qld-palm+beach-201914194" target="_blank">16,18 and 20 Seventh Avenue</a> is being marketed via an expressions of interest campaign closing on October 23.
The listing agents are Kevin Wheatley and Tanaka Jabangwe of Ray White.
The site comprises three blocks of land that have been owned privately by a local family for more than 15 years, Wheatley said.
“The owners have decided that now is the right time to sell,” he said.
This block is close to the beach and has potential for mixed-use development subject to council approval.
“Palm Beach is currently undergoing gradual gentrification with no signs of slowing down,” said Wheatley.
Jabangwe said the north facing property is in the centre-zoned region of Palm Beach with a height restriction of 39m and residential density ‘RD7’, allowing for one bedroom per 25 sqm of net site area.
“Commercial activities are largely promoted within the zoning, priming the site for a mixed-use development,” he said.
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Palm Beach, Gold Coast development site for sale

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The King &amp; Phillip Residences in Sydney secured $250 million worth of apartments sell on the first day.    
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<div class="in-content-ad">Of the 104 apartments on offer in the Galileo Group development 80 per cent sold last Saturday, of which all but two apartments sold to locals, mostly Chinese Australian buyers.</div>
The sub-penthouse sold for $10.1 million
The building’s one-bedroom apartments with study sold for as high as $2 million plus, without any carspace, the two-bedroom apartments sold for between $3 million and $4 million, and the larger three-bedders sold for between $5 million and $6.5 million.
<img class="attachment-full size-full" src="https://static.domain.com.au/domainblog/uploads/2017/09/18155225/3_gxvpx4.jpg" alt="The King and Phillip apartments in Sydney." width="705" height="928">
The 25-storey building designed by Francis-Jones Morehen Thorp (fjmt) is set to be complete in 2020 on the site of the former University of Sydney law school campus. 
The Galileo Group bought the brutalist-style building from Sydney University in 2015 for $45 million.
 
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$250 million worth of apartments sold in King & Phillip Residences, Sydney

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GUEST OBSERVER
CoreLogic’s Accumulation Index looks at the total returns from the housing asset class factoring in the change in the value of the dwelling and the gross rental return from the property.
The CoreLogic Accumulation Index shows that nationally, the total returns from the housing asset class over the 12 months to August 2017 were 13.2%.  Because the return is calculated from value change as well as the gross rental yield, you tend to find that houses have a superior value growth performance while units offer superior rental returns.  
Over the past year, total returns for houses nationally have been recorded at 13.5% compared to a 12.0% return for units.  Over the 10 years to August 2017, the annual total returns for housing nationally have been recorded at 8.8%, split between 8.9% for houses and 8.5% for units.
<h3 class="text-align-center">Annual total returns from the housing asset class, National</h3>
Click to enlarge
<img src="https://www.urban.com.au/images/2017/09/20/2017-09-18-image1.png" alt="">
Total housing returns have generally been superior in capital cities to regional markets however, in the 2008 and 2010-11 downturns, returns slumped by a greater magnitude in the capital cities.  Over the past decade, combined capital city annual total returns have been recorded at 9.3% with returns of 9.5% for houses and 9.0% for units.  Over the 12 months to August 2017, total returns have been recorded at 14.0% for houses and 12.3% for units.  Like the national chart, the recent data for the combined capital cities shows that total returns have started to slow.
<h3 class="text-align-center">Annual total returns from the housing asset class, combined capital cities</h3>
Click to enlarge
<img src="https://www.urban.com.au/images/2017/09/20/2017-09-18-image2.png" alt="">
Regional markets are also beginning to see total returns slow however, the returns over recent years have generally not been as strong as those across the combined capital cities.  Over the past 12 months, total returns have been recorded at 11.7% for houses and 10.2% for units.  Over the past decade, annual total returns for housing outside of the capital cities have been recorded at 7.0%, 7.2% for houses and 5.6% for units.
<h3 class="text-align-center">Annual total returns from the housing asset class, combined regional markets</h3>
Click to enlarge
<img src="https://www.urban.com.au/images/2017/09/20/2017-09-18-image3.png" alt="">
Hobart has recorded the strongest annual growth of all capital cities over the past year and it also has some of the highest rental yields which has meant it has had the strongest total returns.  Total returns for houses over the past year have been above 10% in each of Sydney, Melbourne, Adelaide, Hobart and Canberra.  For units, double-digit total returns have been achieved over the past year in each of Sydney, Melbourne and Hobart.  Units in Darwin were the only capital city property type to achieve negative returns over the past year.
<h3 class="text-align-center">Annual total returns from the housing asset class, individual capital cities, to Aug-17</h3>
Click to enlarge
<img src="https://www.urban.com.au/images/2017/09/20/2017-09-18-image4.png" alt="">
With capital growth now appearing to have peaked and rental yields at record lows it is reasonable to expect a further moderating of total returns over the coming months.  
The other important thing to consider when looking at total returns is the calculation of the rental income.  Although rents are increasing in many areas, the assumption in a gross rental yield calculation is that the property is occupied for 52 weeks of the year.  In some parts of the country this is increasingly difficult to achieve and it can eat into the investment returns.
The total returns data, particularly for the past decade, shows why housing investment has been so popular and hit record highs.  
Returns have been fairly consistent and less volatile than equities however, the ongoing strength and the evidence of a recent slowdown should give investors pause for thought.  
With mortgage rates starting to increase for investors, record-high levels of new housing supply and value growth slowing, housing investors shouldn’t assume that the types of returns seen over recent years will continue to be replicated going forward.
Cameron Kusher is research analyst for CoreLogic. You can contact him <a href="https://blog.corelogic.com.au/about/" target="_blank">here</a>.
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Total returns from housing are starting to ease: Cameron Kusher

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Sponars Chalet, a historic traditional ski lodge located in the Kosciuszko National Park, is currently under offer.
The <a href="https://www.crebrokers.com/properties/hotels-bars/sponars-chalet-is-at-the-gateway-to-the-northern-end-of-the-nsw-ski-fields-including-perisher-valley-smiggin-holes-and-charlotte-pass/#prettyPhoto" target="_blank">chalet</a> sits on the site of the original Kosciuszko Hotel whose Grand Slam Ski run was the first commercial ski slope in the Snowy Mountains area.
Sponars can accommodate up to 100 guests, with all rooms having en-suite facilities. It has a free car-park for guests, and also provides a courtesy bus to Smiggin Holes and Perisher Ski Resort during shoulder and peak seasons.
Other facilities include an indoor heated swimming pool, steam room, ski hire at the lodge, bar and restaurant with an open fire place and games room.
<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/2017/09/19/Sponar2.jpg" alt="">
The listing agent is Stephen Pursell of CRE Brokers.
The leasehold is $2.4 million. 
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Offer made for iconic Sponars Chalet

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A Georgian style building built in 1842 is up for lease in Sydney's CBD through Tom Buxton of Colliers International.
The three story building, <a href="https://www.commercialrealestate.com.au/property/171-173-macquarie-street-sydney-nsw-2000-11300593" target="_blank">171-173 Macquarie Street</a> has just undergone a full refurbishment has just been completed with new services and bathrooms. 
Naming and signage rights are available (subject to council approval).
Horbury House is a combined pair of 3 storey terraces with a basement, originally part of a terrace of seven residences extending from the corner, and part of a continuous streetscape of terraces. 
They are the last residential terraces in Macquarie Street (apart from No. 145) and are located between a 1970s office development and a 1940s office building. 
Only the facade and some roof framing survive from the 1842 building constructed for Ousley Condell.
It was named after Horbury, an area in England.
From the 1890's its access to Sydney Hospital made the terrace an ideal site for surgeon's professional rooms. More recently, as the medical character of the street changed, it has been used as company offices.
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