<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]

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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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The University of Sydney, Southern Cross University and interior design firm Cachet Group have launched a pilot study into the impact of office design on worker productivity.
The study aims to find out how activity-based office designs affect worker productivity and wellbeing.
Leading the research project is the University of Sydney’s Dr Christhina Candido who runs the Building Occupant Survey System (BOSSA).
She said open plan offices have evolved significantly in Australia over the last few decades as a result of innovative concepts such as activity-based working now becoming the norm.
“We know a lot about the issues around open-plan working, but we need to understand more about how this latest wave of activity-based work environments may affect the productivity of office workers,” she said.
“Typically, it may see workers migrating to team desks, quiet concentration rooms, a variety of meeting rooms, brainstorming areas, multi-media rooms and lounges.
“The advantages of activity-based working have already been widely reported in the property sector but it is time to provide evidence around this growing office trend in Australia."
Wearable technology and analytical software developed by Southern Cross University and the University of Sydney will be used to the responses of workers in a variety of work spaces.
Rowan Hamman, Managing Director of Cachet Group’s Australian operation said the Australian study will provide the research needed to develop an exemplary global practice of work place design.
“It will provide the basis for evidence-based design solutions to increase worker satisfaction,” he said.
“Cachet Group is extremely proud to be a part of this pioneering study with such iconic research institutions for the interior design and architecture field.
"We hope that data collected and information produced from the study will give us, as an industry of professionals, a greater understanding of this subject matter.
“It is also an opportunity for us to give back some of our time, energy and expertise to the industry that has supported our business and our key objective of improving the happiness and wellbeing of everyday Australians through strategic workplace design and innovation.”
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jonathanchancellor-7SQnKwU6yx

Pilot study into the impact of office design on worker productivity

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Danish jewellery retailer Pandora has leased an entire building on Melbourne's Bourke Street Mall in probably the biggest retail leasing deal in the Melbourne CBD so far this year.
The deal for <a href="https://www.realestateview.com.au/property-360/property/280-282-bourke-street-melbourne-vic-3000/" target="_blank">280-282 Bourke Street Mall</a> was worth nearly $1 million in annual rent. The Pandora deal highlighted the trend of retailers looking to build a strong retail network in the CBD with the company already having a shop nearby on Little Collins Street and a third store within a three block radius.
Pandora will replace US retailer Nine West at the building. The fashion retailer Zara is the neighbour.
Pandora has leased the building in a seven-year deal. However, the retailer will use only the 90 square metre ground floor space for retail, implying that the effective retail rent rate is more than $11,000 per sqm, according to The Australian Financial Review.
The remaining floors of the five-level building will be utilised for storage or other non-retail uses. The building has been owned by the Snowden family since 2004.
The deal was brokered by CBRE who advised there were no vacancies on Bourke Street Mall, which is home to flagship department stores for Myer, David Jones and H&amp;M.
 
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Pandora leases on Bourke Street Mall with $1 million deal

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An iconic building which was home to retailer Walton’s in Brisbane’s Fortitude Valley has been listed. 
The former Waltons department store building, which closed down in 1987, has been owned by investment company Mount Cathy Pty Ltd.
The property is being marketed by Knight Frank’s Christian Sandstrom, Justin Bond and Dominic Ong, along with Glenn Gracie of Glenn Gracie Real Estate.
Sandstrom said the property is likely to attract interest from both local and offshore investors as well as developers.
“The property could suit a large cross-section of buyers looking to undertake a substantial refurbishment for re-adaptive use.
“Alternatively under the local plan a substantial mixed use development including retail, residential or commercial of the site is allowable (STCA), which would incorporate the heritage elements of the existing buildings.”
The property has a site area of 3,489 sqm with frontages to both Wickham and Brunswick Streets.
It has an entry to the Fortitude Valley train station and adjoins the proposed $500 million redevelopment of the Valley Metro Centre.
“The property is improved by a number of classical well-constructed buildings and is well-known as the Walton’s building, which was home to one of Brisbane’s largest retailers Walton’s Limited,” Bond said.
“Similar to the recent investment trends, Fortitude Valley has experienced increased institutional foreign investment from the US, UK, South Korea, Hong Kong and China.”
The property is being sold through an international expressions of interest campaign expected to start in four weeks.
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prateek24-ezbwHMbNAk

Former Walton’s building in Brisbane’s Fortitude Valley up for sale

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Melbourne is fast catching up with long-standing rival Sydney in the office leasing market, according to Cushman &amp; Wakefield.
An influx in planned supply in Melbourne will bring overall stock levels within 100,000 sqm of Sydney by 2021, the first time ever the gap has been this narrow (last was 400,00 sqm in 1992), it says.
Sydney, often considered the corporate capital and global property hub of Australia, previously benefited from disparity between both the size and quality of available office space. 
However, today despite Sydney’s 5.1 million sqm of net lettable CBD office space compared to Melbourne’s 4.6 million sqm, and a tighter office market in Sydney with vacancy rates of 5.9% compared to 6.5% in Melbourne, the most noticeable difference is in average prime rent, according to Cushman &amp; Wakefield.
While rental growth continues in both markets, CBD office space in Melbourne still remains markedly less expensive than Sydney. 
Average Prime net effective rents in Sydney is currently $720 per sqm across the CBD, whereas the equivalent Melbourne rent is practically half, at $370 per sqm. 
<a href="https://www.propertyobserver.com.au/images/2017/09/03/SydVsMel.png" target="_blank">Click to enlarge</a>
<img src="https://www.urban.com.au/images/2017/09/03/SydVsMel.png" alt="">
<a href="https://www.propertyobserver.com.au/images/2017/09/03/SydVsMel2.png" target="_blank">Click to enlarge</a>
<img src="https://www.urban.com.au/images/2017/09/03/SydVsMel2.png" alt="">
Alongside rent, an assortment of factors have helped close the gap in attractiveness. 
The Victorian government’s proactive approach to development and construction has seen net office supply grow at nearly three times the pace of Sydney over the past 5 years, according to the real estate firm. 
This will continue with significant disparity between the net negative forecast supply in Sydney (- 15,250 sqm) and the additional 435,000 sqm forecast supply entering Melbourne between 2017 and 2021.
This projected supply will significantly alter overall office volume, and in 2021 Melbourne office stock will come within approximately 100,000 sqm of Sydney. 
For perspective, the previously narrowest gap was approximately 400,000 sqm in 1992, and since 1990 the average gap has been circa 800,000 sqm. Beyond 2021, the proposed increased supply for Sydney will see this gap shift to a more traditionally balanced level. 
Whilst the Melbourne office market doesn’t incorporate major submarkets like Sydney, the abundance of newly built and renovated quality stock is bringing business to the CBD. 
“We are seeing large occupiers take a renewed interest in the CBD. They are gravitating from fringe areas like Richmond, Hawthorn and St Kilda Road back to the CBD for unsurpassed access to a wider talent pool and better amenities,” said Chas Keogh, joint head of Office Leasing Victoria.
Tim Courtnall, head of Office Leasing NSW added that “for the first time following the GFC we are seeing a shift from the importance of cost efficiency towards people and culture”. 
Many companies feel a renewed sense of confidence and are comfortable committing to a longer lease with many also upgrading their space to provide a competitive edge in today’s war for talent, he said. 
Despite the strong rental growth in Sydney’s CBD, firms are going after prime grade office space in superior locations with the best amenities to be competitive in targeting talent. 
While Melbourne’s significant population growth and attractiveness of cheaper prime grade rent has its appeal, Courtnall said he is yet to see companies relocating head offices to Melbourne as a result, and believes Sydney remains the preferred location for global financial and tier 1 technology firms. 
Highlighting the point, Cushman &amp; Wakefield recently secured space for two leading corporates that have chosen to expand their footprint or relocate within the financial core of Sydney’s CBD, despite steadily growing rents. 
RCR Building Services relocated from 50 Bridge Street in the Sydney CBD due to demolition, opting to lease two floors (2,410 sqm) in one of Sydney’s most iconic premium buildings, 1 Macquarie Place, Gateway. Growing fintech player, SocietyOne, also recently secured an entire floor in 45 Clarence Street, taking 44% more space and a higher effective rental. 
With both cities offering appealing lifestyles, and the range of office products becoming increasingly aligned, whether expanding an existing Australian footprint, relocating, or entering the Australian market, Melbourne’s eclectic appeal and Sydney’s celebrated locale is enticing to both investors and occupiers. 
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Melbourne closes in on Sydney in office stock: Cushman & Wakefield

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<img src="https://counter.theconversation.edu.au/content/82644/count.gif?distributor=republish-lightbox-advanced" alt="The Conversation" width="1" height="1">
GUEST OBSERVER
One of the byproducts of landfill is “landfill gas”, a mixture of mostly methane and carbon dioxide generated by decomposing organic material.
Methane is a particularly potent greenhouse gas, but it can be captured from landfill and used to generate clean electricity.
Methane capture is a valuable source of power but, more importantly, it can significantly reduce Australia’s methane emissions. However the opportunity to produce energy from waste is largely being squandered, as up to 80% of the potential methane in waste is not used. 
If more councils were prepared to invest in better facilities, Australians would benefit from less waste in landfill and more energy in our grids. Even the by-product from using state-of-art processing methods can be used as a bio-fertiliser.
And while these facilities are initially more expensive, Australians are generally very willing to recycle, compost and take advantage of community schemes to reduce waste. It’s reasonable to assume that a considerable percentage of our population would support updating landfill plants to reduce methane emissions. 
<h2>Recycling in Australia</h2>
Australia may have a bad rap when it comes to waste recycling, but there are plenty of positives.
Australians produce approximately 600 kilograms of domestic waste per person, per year – no more than most northern European countries, which set the benchmark in sustainable waste management. 
Looking at kerbside bins we, on average, recycle 30-35% of that waste, saving much of our paper, glass, aluminium and steel from landfill (which also saves and reduces emissions). 
Although the household recycling rate in Australia is less than the best-performing EU recycling rates of 40-45%, this is primarily due to a lack of access to (or awareness of) schemes to recycle e-waste and metals. Data therefore suggests that at the community level, there is a willingness to minimise and recycle waste.
Between 55% and 60% of kerbside waste sent to landfill in Australia is organic material. Over 65% of this organic fraction is food waste, similar to the make-up of the EU organic waste stream, comprised of 68% of food waste. 
Despite this large fraction, approximately half of the household organic we produce – mostly garden waste – is separately collected and disposed, again demonstrating high participation by the community in recycling when collection and disposal options are available. 
<h2>Turning waste into energy</h2>
Energy recovery from waste is the conversion of non-recyclable material into useable heat, electricity, or fuel. Solid inorganic waste can be converted to energy by combustion, but organic waste like kitchen and and garden refuse has too much moisture to be treated this way. 
Instead, when organic waste is sent to landfill it is broken down naturally by microorganisms. This process releases methane, a greenhouse gas 25 times more potent than carbon dioxide. 
Around 130 landfills in Australia are capturing methane and using it to generate electricity. Based on installed power generation capacity and the amount of waste received, Australia’s largest landfills use 20-30% of the potential methane in waste for electricity generation. 
Ravenhall in Melbourne processes 1.4 million tonnes of waste per year, and proposes to generate 8.8 megawatts (MW) of electricity by 2020. Roughly 461,000 tonnes of waste goes to Woodlawn in NSW, and in 2011 it generated 4MW of electrical power. Swanbank in Queensland receives 500,000 tonnes a year and generates 1.1MW. 
The remainder of the methane is flared due to poor gas quality or insufficient transmission infrastructure, is oxidised as it migrates towards the surface of the landfill, or simply escapes. The methane generating capacity of waste is also diminished because organics begin composting as soon as they reach landfill.
But there are more efficient ways to capture methane using specialised anaerobic digestion tanks. The process is simple: an anaerobic (oxygen free) tank is filled with organic waste, which is broken down by bacteria to produce biogas. This is similar to the natural process that occurs in landfill, but is much more controlled and efficient in a tank.
The biogas can be combusted to produce electricity and heat, or can be converted to pure biomethane to be used either in the mains gas grid, or as a renewable transport fuel. In contrast to landfills, 60-80% of the methane potential of waste is used to generate electricity in anaerobic digesters, with most of the remainder used to power waste handling and the digestion process. 
The nutrient-rich sludge that remains after anaerobic digestion, called digestate, is also a valuable biofertiliser. It can support food production, and further reduce greenhouse gases by decreasing our reliance on energy-intensive manufactured fertilisers. 
The use of food waste as a feedstock for anaerobic digestion is largely untapped in Australia but has huge potential. A site in Sydney’s geographic centre (Earth Power Technologies) and Richgro’s Jandakot facility near Perth are part of a handful that are converting food waste to energy using this technology.
<h2>The future of organic recycling</h2>
Local council recycling and waste infrastructure is typically not a priority election issue, except for those close to existing or proposed landfills. 
Ratepayers are generally not informed of the possibility of separately collecting food waste, either for industrial-scale composting or methane capture. We have the right to this information, with costs and benefits presented in the context of the costs we already pay for waste management, and relative to the environmental performance of landfill.
As an example, landfill operators often promote the number of homes they power by electricity generated from methane as a key measure of sustainability. But how does this compare to the electricity and heat that might be obtained from an anaerobic digester that processes the same waste? 
Given the choice, the Australian community may have an appetite to extend organic recycling beyond well-established garden waste composting. They only have to be asked.
<a href="https://theconversation.com/profiles/william-clarke-380521" target="_blank">William Clarke</a> is professor of waste management, The University of Queensland.
<a href="https://theconversation.com/profiles/bernadette-mccabe-147872" target="_blank">Bernadette McCabe</a> is Associate Professor and Principal Scientist, University of Southern Queensland.
Both are authors for <a href="https://theconversation.com/au" target="_blank">The Conversation</a>.
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j.ballantyne1990-6AQqhLzZaK

Capturing the true wealth of Australia’s waste

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BRW Rich Lister Arthur Laundy has sold off his Bateau Bay Hotel on the NSW Central Coast.
It fetched around $13 million after buying it two years ago for nearly $11 million.
The Bateau Bay Hotel, one of 19 NSW venues owned and managed by Laundy Hotels, was bought by a local north coast pub group.
"Pubs are going very strong. It's definitely a sellers market ... I am cashing in on the prices being paid at the present time," Laundy was cited as saying by the Australian Financial Review.
"If the right price came along, I would sell more [from my portfolio].” 
The sale was on a sub 10 per cent yield.
"The Bateau Bay Hotel been a solid business, but given we have a few projects on the go at present thought it was the right time to sell,” Laundy said.
The off-market deal was brokered by CBRE Hotels’ Daniel Dragicevich and Ben McDonald. 
The deal shows the strength of the NSW coastal pub market following the recent sales of the Swansea Hotel in Lake Macquarie and the Country Club in Shoal Bay, said McDonald.
"The sale of Bateau Bay, both in quantum of dollars and initial yield, adds weight to the flow of transactional activity in coastal pub markets at levels traditionally reserved for metropolitan assets," Dragicevich said.
Pubs in the region on the market include the Premier Hotel in Newcastle.
Other high-profile pub owners too are taking Laundy’s view on the current market. Geoff Dixon and John Singleton's Australian Pub Fund recently sold the Vic on the Park hotel in Enmore, Sydney, for about $20 million.
"It makes sense that if the Sydney market is closing in on 8 per cent cap rates, that hotels within two hours of the CBD in markets such as the Central Coast are selling at rates of 10 per cent or sharper,” Dragicevich said.
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Rich lister Arthur Laundy cashes in on strong pub market with $13 million sale

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A heritage freehold building in the Sydney CBD has been listed for sale.
Located at <a href="https://www.realcommercial.com.au/property-offices-nsw-sydney-502504018" target="_blank">332 Kent Street</a>, the 485 sqm property was built in the 1880s as a warehouse.
It features original historic window façade.
The building's refurbishments include two passenger lifts.
The property is fully leased with a net rent of $1,004,950 and a 4% increase per year across all tenancies.
Its net lettable area is 1,570 sqm.
The building enjoys a prime CBD location and has a wide 28 metre frontage to Kent Street.
The property is offered through Savills agents Graeme Russell and Tim Grosmann.
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Sydney heritage warehouse-converted office listed for sale

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A commercial building at Sydney’s Coogee beach has sold for $20 million. 
The freehold at <a href="https://www.realcommercial.com.au/property-hotel+leisure-nsw-coogee-502461010" target="_blank">186-188 Arden Street</a> has multiple tenancies within walking distance to all amenities.
The ground floor is leased to fast-food giant McDonalds, and the total net income is nearly $800,000 pa. 
The vendor was Shankman Holdings Australia Pty Ltd.
The selling agents were Jerry Leis and Allan Levy of Metro Commercial.
The building has the possibility to suit other uses ranging from existing commercial to residential subject to council approval.
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jrobinson-rf4aSBido9

Coogee property with McDonald's as a tenant sells for $20 million

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Commonwealth Bank of Australia has leased space in Melbourne’s Glenferrie Road shopping strip, which according to leasing agent Allard Shelton is the largest dollar value letting deal in 2017.
The agreed rent of $275,000 p.a plus GST and outgoings for <a href="https://www.realcommercial.com.au/property-offices-vic-malvern-502202670" target="_blank">142 Glenferrie Road, Malvern</a> works out for a rent of $859 per sqm.
“Demand for retail property in Melbourne is still strong and freehold buildings on high exposure corners like this are always sought after,” said Allard Shelton’s Patrick Barnes.
Commonwealth Bank is expected to occupy the new premises by October 2017 with the owner of 142 Glenferrie Road fitting out the building in line with the Commonwealth Bank’s retail design strategy. The fit out is expected to take over two months to complete and will comprise of an internal and external renovation.
The site is part of one of Melbourne's busiest shopping strips and is close to other quality tenants such as Coles, ANZ, Westpac and Dan Murphy’s, added Barnes. 
Allard Shelton, Victoria’s oldest, Australian owned commercial property agents, facilitated the rental transaction after an introduction from Fitzroys director, David Bourke.
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Commonwealth Bank leases space in Melbourne's busy Glenferrie Road shopping strip

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A commercial building with potential for development located in Melbourne inner suburb Richmond is going to auction with expectations of more than $1.2 million.
The <a href="https://www.realcommercial.com.au/property-retail-vic-richmond-502537226" target="_blank">221 Swan Street</a> property is within walking distance of East Richmond Railway Station and within 3 kilometres of the CBD.
It will be auctioned on September 27 through Teska Carson.
The 209 sqm site is zoned Commercial 1 under the City of Yarra Planning Scheme.
The Commercial 1 Zone promotes mixed use commercial centres for retail, office, business, entertainment and community uses, as well as residential uses at densities complementary to the role and scale of the commercial centre.
Improvements include a single level retail/workshop/showroom building.
<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/2017/09/04/TeskaCarsonMel.jpg" alt="">
According to marketing agents, Teska Carson’s Tom Maule and Larry Takis, the property can suit both an owner-occupier or investor, but it may be of most interest to developers looking at its considerable potential for a mixed use development subject to council approval.
"There is very strong demand for any property with development potential in the inner suburbs and especially those with main street frontage and Commercial 1 zoning,” Maule said.
He said the land was located within the City of Yarra’s Swan Street Structure Plan which identified Swan Street East as a major activity centre.
The property will be sold with vacant possession.
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