Joel Robinson

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

A collection of just 25 large-format apartments and penthouses overlooking Goodwin Park is entering the Coolangatta market, with <a href="https://www.apartments.com.au/new-apartments/marea-residences-coolangatta-27-27a-dixon-street-coolangatta-qld-4225">Maréa Residences</a> combining a low-density, residential-only approach with uninterrupted park and Pacific Ocean outlooks.

Located at 27 Dixon Street, Maréa comprises three and four-bedroom residences alongside a limited number of dual-level penthouses, with the project positioned between Goodwin Park and <a href="https://www.apartments.com.au/developments/coolangatta-qld-4225">Coolangatta</a>’s coastal precinct.

Construction has commenced, with completion currently estimated for late 2027. Three-bedroom residences are priced from $1.8 million.

[smartcode_project:default project_id=150999 project_image_fid=374005]

The project has been designed around its northern outlook across the park, with the building’s architecture, landscaping and material palette intended to establish a connection with the neighbouring green space. The residences have been configured to maximise natural light and views across Goodwin Park towards the ocean.

Inside, the material palette incorporates timber, stone and brushed brass, complemented by curved detailing and ambient lighting. Kitchens and bathrooms carry the same natural material approach, while residences also include basement parking, storage and lift access.

Maréa’s penthouses are arranged over two levels and include private pools, adding another layer to the project’s focus on larger-format apartment living. Across the development, residences are configured with three or four bedrooms rather than the broader mix of smaller apartment types commonly found in larger projects.

[smartcode_project:default project_id=150999 project_image_fid=374010]

Resident amenity is concentrated at rooftop level, where landscaped entertaining terraces and pools take advantage of elevated views across Coolangatta and the Pacific Ocean.

The project has so far been particularly well received by local owner-occupiers and downsizers, according to Urban Activation Property Sales and Marketing Director Matt George, with the residential-only format, construction quality and northern park outlook among the features resonating with purchasers.

“The uninterrupted northern aspect overlooking Goodwin Park has been a key point of difference, with buyers attracted to the sense of serenity and open space the park provides, while still enjoying easy access to the ocean and being within walking distance of the lifestyle and amenities Coolangatta has to offer,” George said.

[smartcode_project:default project_id=150999 project_image_fid=374002]

“The combination of high-quality construction, a residential-only building, park outlook and proximity to the beach has resonated strongly with the local downsizer market.”

The Dixon Street address is within walking distance of Coolangatta Beach and the broader southern Gold Coast coastline, including the surf breaks at Snapper Rocks and Kirra. Coolangatta’s cafés, restaurants and retail are nearby, while Gold Coast Airport is also within close proximity.

[smartcode_project_cta:default project_id=150999]

Maréa Residences brings parkside apartments to Coolangatta

Melbourne developer PDG has secured Victorian Government approval for its $1.5 billion Southbank development <a href="https://www.apartments.com.au/new-apartments/the-one-1-queens-bridge-street-southbank-vic-3006">The One</a>, clearing the way for the long-dormant riverfront site opposite Crown to finally be developed.

The Minister for Planning has approved the project at 1-29 Queens Bridge Street, with the Department of Transport and Planning issuing the planning permit following its assessment.

The approval will allow PDG to develop the prominent 5,059 sqm site with a major mixed-use tower comprising premium apartments, including branded residences, a luxury hotel and boutique office space.

PDG acquired the site in late 2024, with its position directly opposite Crown's main entrance and near Melbourne's Arts Precinct making it one of Southbank's most significant remaining development opportunities.

<img alt="PDG" data-entity-type="file" data-entity-uuid="3933013e-6332-4386-b9be-089df05caf17" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-27%20at%209.29.22%E2%80%AFAM.png?VersionId=sITIgBqDL0N3VNSMwWEmF5UA.uvcsRyu" />

Designed by COX in collaboration with ODO and PDG, the tower's architecture draws on the movement of the Yarra River, with six vertical pleats running the height of the sculpted facade.

The project will also see the heritage-listed Queens Bridge Hotel restored and incorporated into the development&nbsp;with new hospitality and public uses, including a rooftop venue.

A significant component of The One will be its residential amenity.

More than 5,000 sqm of resident facilities will be delivered across a single level, making it one of the largest consolidated residential amenity offerings proposed in an Australian apartment development.

The planning approval also incorporates a major upgrade of Queensbridge Square, which PDG will deliver in partnership with the City of Melbourne.

<img alt="PDG" data-entity-type="file" data-entity-uuid="73167fcd-1031-4b6f-a408-a064cfe45ed1" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-27%20at%209.29.17%E2%80%AFAM.png?VersionId=Pf1AEWxw6SNmBqR0zQW5lyEze.MtxgFp" />

The existing square will be revitalised as a new civic and pedestrian space along the Yarra River, strengthening the connection between the project, Southbank and the riverfront.

PDG Founder and Managing Director Vince Giuliano said the approval represented a major milestone for a site which has remained largely underutilised for more than 15 years.

“This is the most significant Planning Permit approval Melbourne has seen in recent years,” Giuliano said.

“For more than 15 years, this site has remained underutilised. This approval enables us to deliver a project that will contribute meaningfully to the revitalisation of Southbank, restore and reactivate an important heritage building, and create a new civic and hospitality destination for Melbourne.”

The latest approval follows an earlier planning permit issued by the City of Melbourne covering demolition works across part of the site at 9-29 Queens Bridge Street. Those demolition and early works are already underway.

PDG has also started generating early interest in the residential component from owner-occupiers ahead of a planned public launch in early 2027.

PDG secures approval for $1.5bn Southbank apartment development, The One

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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Adelaide has the second lowest movement in property listings compared to 12 months ago, according to CoreLogic’s latest report.
The property data firm says that Adelaide’s total listings have risen by just 0.6% to 8,116
This is compared to Canberra’s 14.8% growth.
<a href="https://www.propertyobserver.com.au/images/2017/07/18/Screen%20Shot%202017-07-18%20at%2010.07.37%20am.jpg" target="_blank">Click to enlarge</a>
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/07/18/Screen%20Shot%202017-07-18%20at%2010.07.37%20am.jpg" alt="">
Darwin has the lowest with a 0.2% rise in total listings while Hobart has the biggest decline of total listings with 29.2%.
A three bedroom house at <a href="https://www.realestate.com.au/property-house-sa-coromandel+valley-125956098">11 Walsh Court</a>, Coromandel Valley (above) has been listed for between $470,000 to $490,000.
Built in 1982 the property was last sold in 2008 for $373,000.
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Another three bedroom house at <a href="https://www.realestate.com.au/property-house-sa-trott+park-125954210">1 Barton Drive</a>, Trott Park (below) has been listed for between $339,000 to $355,000.
Built in 1986 the property was last sold in 2014 for $325,000.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/07/18/1%20Barton%20Drive.jpg" alt="">
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j.ballantyne1990-6AQqhLzZaK

Adelaide sees very slight listing uptick: CoreLogic

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Nine separate bulky goods retail properties leased to electronics retailer The Good Guys across four states have sold for a total of $92 million.
The deals were the largest group transactions of its kind in the Australian market this year, according to Savills which negotiated them on behalf of the Muir family.
The properties are located in Victoria (Thomastown, Geelong, Bendigo and Ballarat), New South Wales (Caringbah and Ballina), Queensland (Ipswich and Cairns) and Western Australia (O’Connor), and all are leased long-term to The Good Guys, a wholly owned subsidiary of ASX-listed JB HiFi.
Sales range from $5.2 million for the Bendigo property, up to almost $30 million for the Caringbah property.  
Purchase yields range from around 6.25% for the capital city properties up to almost 8.00% for regional properties – compelling returns for a yield starved market.
A Sydney-based investment fund and sell the other properties individually.’’One investment group
Selling agents Clinton Baxter, Nick Peden and Steven Lerche of Savills said the sale had been one of the most anticipated divestment of Australian retail stock in the last 12 months.
"We expected strong interest from private investors seeking individual properties, but were particularly surprised by the numerous portfolio buyers seeking multiple properties across several states,’’ Baxter said.   
“We simply couldn’t satisfy all the portfolio offers due to overlapping property requirements, and ultimately chose to transact 5 of the properties with a Sydney-based investment fund and sell the other properties individually.’’
<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/2017/07/19/Good%20Guys_Thomastown.03.jpg" alt="">
Peden said that the wide price range of the assets, exceptional main road locations in key commercial precincts, attractive rental returns, together with blue-chip tenancy profiles appealed to a wide range of investors ranging from SMSFs, private investors, syndicators and property funds, whether based locally or off-shore.
"With The Good Guys being owned by ASX-listed retail powerhouse JB Hi-Fi Limited, investors feel extremely comfortable with the long-term security of the investment. 
"All properties are in proven commercial locations, with a long history of successful trade” Lerche said.
The properties are all owned by the Muir family. 
Savills will be selling several additional properties also leased to The Good Guys in coming weeks, to complete the divestment.
“Of the original portfolio of properties we have been handling for the Muir family, it was crucial to the process that we finalised the single portfolio transaction before allowing individual properties to be sold. 
Now that has occurred, we are busy transacting the individual properties, with the opportunity offering exceptional value for investors at attractive yields” Mr Baxter said.
The Good Guys was founded in Melbourne’s northern suburbs in 1952, and remained a family owned business until late 2016 when the company was purchased by JB Hi-Fi Limited for $870 million.
The business has grown to be one of Australia’s leading retailers in the sale of white goods and electronics, with an approximate annual revenue of $2.1 billion.
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Savills sell nine properties leased to The Good Guys in $92 million disposal

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Fast-food franchisee SumoSalad has reportedly managed to negotiate lower rents from reluctant landlord Westfield through its tactic of insolvency laws.
The two parties are close to a mutually favourable commercial outcome, with the final details to be sorted out by early next week, Australian Financial Review columnist Tony Boyd wrote in Chanticleer.
The deal is expected to attract great attention from retailers operating in large shopping centres because it will show that it is possible to tip the balance of power from landlords back to tenants, Boyd said. 
SumoSalad co-founder Luke Baylis said on Tuesday he was negotiating better rental terms at Westfield centres, without going into details. 
SumoSalad’s boss put two of the 20 companies in his group into voluntary administration in June, escalating the tension between the fast food chain and Westfield after failed attempts over six months to negotiate cuts in leasing charges.
The two companies, Sumo Westfield Leasing Pty Ltd and Sumo Leasing Pty Ltd, were put into voluntary administration with Morgan Kelly and Peter Gothard from Ferrier Hodgson appointed voluntary administrators. 
Baylis’s contention was that SumoSalad franchisees had suffered from the opening of new food eating areas which, according to him, was designed to increase foot traffic but had cannibalised the sales of SumoSalad outlets because of increased competition.
"Using the voluntary administration law involved a more strategic approach in terms of negotiating," Baylis said.
He added that SumoSalad was well prepared for using the insolvency laws because all of its leases were held in separate companies within the SumoSalad Group. The two SumoSalad leasing companies had 63 separate leases across 25 different lessors. Westfield was responsible for 19 of them.
Kelly compared the use of the voluntary administration laws by SumoSalad to the Chapter 11 bankruptcy law in the United States. 
“You have protection from your creditors while you negotiate a commercial outcome,” he said.
"I believe the use of the laws in this way is unprecedented.” 
Kelly said in a report to creditors that many SumoSalad franchisees were not trading profitability "primarily due to high levels of rent" and led to a number of them “abandoning their sites”.
Baylis says that while the strategic use of insolvency laws had been effective, it would cost him about $250,000.
 
 
 
 
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jonathanchancellor-7SQnKwU6yx

SumoSalad close to winning lower rental deal with landlord Westfield

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Shopping centre landlords are charging retailers “crazy” rents, franchise operator Stan Gordon has said, while urging landlords to be realistic or retailers would quit their malls in droves.
Gordon is managing director of Franchised Food Company, which has more than 200 outlets across brands like Cold Rock, Whippy, Pretzel World and Trampoline.
"The retail market is not fantastic, it's very tough. All we are asking for is fairness. We can't be in malls just to break even while making the shopping centre owners rich," Gordon was cited as saying by The Australian Financial Review.
He said the owners of Chadstone Shopping Centre in Melbourne (Vicinity Centres and the Gandel Group) asked three of its franchisees "crazy rents" when they were given the opportunity to move back in after refurbishments. 
"We told them we cannot make it work at these rents," Gordon said. 
A spokeswoman for Vicinity Centres declined to comment.
Gordon said retailers are being held for ransom by some shopping centres that had annual rent increases of 5 per cent, almost 3 percentage points more than inflation.
"Yes, these shopping centres are often undergoing multimillion-dollar upgrades – another reason for the unsustainable increases in rent – but this is only in response to the rise of online shopping," he told the AFR.
Fast-food franchise SumoSalad put two of its 20 companies into administration in June to force landlord Westfield to negotiate on rents and is close to a lower rent agreement, according to recent developments.
Gordon pointed out that staff penalty wages should drop if retailers are to remain profitable in the high-rent environment.
Claims that shopping mall landlords are oversaturating their centres with food outlets were rebutted by Peter Allen, the chief executive of Westfield landlord Scentre Group.
Allen said while retail space allocated to "food catering" was growing by 4.5 per cent, food sales were increased by 6.8 per cent.
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Shopping mall landlords charging 'crazy rents', says franchisor Stan Gordon

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All Australian homes will have broadband connectivity by 2020, according to a senior executive of NBN Co tasked with rolling out the National Broadband Network which promises to deliver super fast internet.
NBN Co’s chief network deployment officer Kathrine Dyer has said that no premises will be left unconnected by the time the rollout is completed in 2020, according to The Australian.
“There will be a lot of night works, additional traffic management and higher level of consultation with council on land access,” Dyer said.
Nearly 200,000 premises faced lengthy delays connecting to the network despite the fact that the NBN has been rolled out in their neighbourhoods.
These “service class 0” premises, which make up close to 5 per cent of the 5 million or so premises ready to receive NBN service, have been put in the “too-hard ­basket” by NBN Co.
Dyer said some premises had been left in limbo and NBN Co was working to ensure they would not fall further behind.
“This year is the year we look at these premises and start making them serviceable,” she was cited as saying by The Weekend Australian.
Back in 2015, when NBN Co revealed its plan to reach 9.1 million homes by 2018, its chief executive Bill Morrow had said, “This is a bold plan that puts us in striking distance of our ultimate goal of delivering better broadband to every Australian by 2020.
Two years down the line, the project has been marred by delays and criticism. In September 2016, a joint standing committee of parliament was established to inquire into the NBN rollout. 
Dyer said the ­decision to leave some premises behind was due to several factors, not just technology. 
“We had some examples where we would get to multi-dwelling units (apartments) and the body corporate would tell us to come back in 12 months,” she said.
Critics, however, say the decision to bypass homes was more about meeting aggressive rollout targets and keeping costs down.
Recently, Rod Tucker, a telecommunications expert and professor at the University of Melbourne, told the Senate committee overseeing NBN that Australia’s FTTP fibre-to-the-premises connections were costing $4,405 on average and were among the most expensive in the world.
With the rollout entering the metro areas, the next 12 months are expected to be critical for NBN Co as connecting metro suburbs will require significant civil works and better co-ordination between NBN Co and the retail service ­providers.
Dyer said the biggest pain for consumers was a lack of clarity about on where NBN Co’s responsibility ended and the retail service providers took over. 
“We are all on a journey here and there’s a learning curve here for providers and residents,” she said.
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NBN to connect everyone by 2020: Kathrine Dyer

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A strata office property in inner Melbourne’s Cremorne (Richmond) has changed hands for the second time in the past eight months, this time for $3.75 million to an owner-occupier.
The <a href="https://www.realcommercial.com.au/property-offices-vic-richmond-502062242" target="_blank">159-161 Cremorne Street</a> property previously sold in November 2016 for $3.15 million and the transaction underlines the strength of the commercial property market in the area.
Teska Carson’s Tom Maule, who brokered the off-market deal with Matthew Feld and Michael Taylor, said the $600,000 or nearly 20 per cent rise in value in the short period reflected the strong demand for city fringe locations.
“The demand for strata office has been very strong recently and this has been underlined by a sale at a very good $5,357 a square metre,” said Maule.
“The buyer was looking for a property which provided modern accommodation, exposure, and an inner city location which offered immediate access to all essential amenities, including public transport and quick access to arterial links.
The 704 sqm ground floor property forms part of the Deal Corporation-developed ERA building, which comprises three levels of office space, 155 residential units, a café, and basement car spaces.
The property sold with vacant possession. 
Maule said the estimated fully-leased income was around $290,000 per annum.
Feld added that the Cremorne/Richmond market was very popular with local and off-shore buyers because it was close to the CBD.
The vendor was a Melbourne-based private investor.
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Richmond office property sells for $3.75 million, gains 20 percent in 8 months

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After-school and vacation care service OSHCare Pty Ltd has leased a heritage building in a waterfront location at Balmain in inner western Sydney where an Australian cult movie was shot.
The historic, two-storey sandstone building at <a href="https://raywhitecommercialinnerwest.com.au/nsw/balmain/937521/" target="_blank">101 Mort Street</a> was used to film parts of the 1974 Australian biker movie ‘Stone’. 
OSHCare has taken out a three-year lease with a five-year option. The net rental is $125,000 per annum.
The deal was negotiated by Ray White Commercial’s Tim Morrison on behalf of a private investor owner.
The 300 sqm building is a heritage-listed property.
“This property was originally the Forth &amp; Clyde Hotel, an integral part of the ship building and industrial heritage of this Balmain waterfront location,” said Morrison.
The building is now used as professional offices, he said.
“The building is close to Mort Bay Park, Thames Street Wharf as well as Balmain's well-known pubs, restaurants and retail shopping precinct with easy access to bus and ferry.”
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Afterschool service OSHCare leases Balmain building

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Commercial property sales in eastern Sydney increased in the past three months, according to analytics firm CoreLogic's latest Eastern Sydney Cityscope.
The property data firm said sales recorded in the quarter to July 2017 totalled $155.3 million, up from the $141 million in the quarter to April 2017 but a decrease from the $381.6 million in the quarter to January 2017.
The 12-month total was $797 million, a significant increase from the $459.5 million recorded the same time last year.
The table below shows sales recorded for the past eight updates of Eastern Sydney Cityscope.
<a href="https://www.propertyobserver.com.au/images/2017/07/14/Screen%20Shot%202017-07-14%20at%2010.38.58%20am.jpg" target="_blank">Click to enlarge</a>
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/07/14/Screen%20Shot%202017-07-14%20at%2010.38.58%20am.jpg" alt="">
Notable sales listed in the July 2017 update of Eastern Sydney Cityscope include: 
<ul>
<li>20-26 Cross Street, Double Bay, a two-storey building comprising 34 suites with a net lettable area of 1,065 sqm, which was bought for $54.6 million through CBRE North Sydney;</li>
<li>Kinselas Hotel, at 383-387 Bourke Street, Darlinghurst, a four-storey Victorian-style building with an internal Inter-War Art Deco style, formerly a chapel and funeral parlour which was built in1933, it was bought for approximately $23 million through Colliers International and</li>
<li>Bay House, at 2 Guilfoyle Avenue, Double Bay, a four-storey office building with a net lettable area of 985 sqm, which was bought for $12 million.</li>
</ul>
<a href="https://www.propertyobserver.com.au/images/2017/07/14/Screen%20Shot%202017-07-14%20at%2010.39.29%20am.jpg" target="_blank">Click to enlarge</a>
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/07/14/Screen%20Shot%202017-07-14%20at%2010.39.29%20am.jpg" alt="">
Properties listed as for sale in the July 2017 update of Eastern Sydney Cityscope include: 
<ul>
<li>Room 4 at 285A Crown Street, Surry Hills, a three-storey commercial building with underground parking for 15 cars and a building area of 4,520 sqm available through Colliers International and CI Australia;</li>
<li>The Colombian Hotel, at 117-123 Oxford Street, Darlinghurst, a three-storey Inter-War building, built in 1930 and refurbished in 2002, available through Ray White Hotels and</li>
<li>48 Little Oxford Street, Darlinghurst, a mixed-use building with one ground floor commercial tenancy and three floors of residential units above, available through CBRE Sydney.</li>
</ul>
Leasing opportunities listed in the July 2017 update of Eastern Sydney Cityscope include:
<ul>
<li>64-76 Kippax Street, Surry Hills, an eight-storey warehouse conversion building with car parking for 72 cars, has suites of 75 to 1,200 sqm available through Karbon Property Sydney and Colliers International Sydney;</li>
<li>21 Bay Street, Double Bay, a one and two-storey building, has retail space of 300 sqm available through Rose and Jones Buyers Agents and Property Managers and</li>
<li>Ozone Bondi Beach at 102-106 Campbell Parade, Bondi Beach, a four-storey block comprising ground floor retail and 13 upper level residential units, has retail space of 370 sqm available through CBRE Sydney.</li>
</ul>
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Eastern Sydney commercial property sales rose in 3 months to July: CoreLogic

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A 92-room building currently used for student accommodation in Sydney’s lower North Shore suburb of Greenwich has sold for $14.9 million.
The <a href="https://www.realcommercial.com.au/property-offices-nsw-greenwich-501714013" target="_blank">33 Greenwich Road</a> property has four floors and is approved for 175 beds in total and has a building area of nearly 3,230 sqm and land area of 4,290 sqm.
Each floor excluding the ground floor has separate male and female bathrooms, common kitchenette, store rooms, ironing room and a cleaner’s cupboard. The building also consists of a commercial kitchen, cafeteria area and a manager’s flat.
The selling agents were Darren Pienaar and Michael Culibrk of Gerard Cole Property Consultants.
The property is close to shopping precincts, schools and public transport. 
The property last traded in 2012 for $6.25 million, according to Corelogic RP Data.
Student accommodation has been a growing asset class for investors. Last month, Furnished Property, a student accommodation provider, put a portfolio of 14 long-term leasehold properties in central Sydney on the market through Savills.
 
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Student hostel in Sydney's Greenwich sold for $14.9 million

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A laneway retail asset in Melbourne’s CBD has been snapped up by a local investor for $2.875 million in an off-market transaction.
The <a href="https://www.realcommercial.com.au/property-retail-vic-melbourne-502464730" target="_blank">165 Flinders Lane</a> property is a two-storey shopfront on the corner of iconic laneway Hosier Lane.
The deal was brokered by Colliers International’s Oliver Hay, Daniel Wolman and David Sia.
The property transacted with vacant possession but represents a market yield of about 3.5 per cent and a price per square metre of more than $36,000 per sqm, according to the agents.
“165 Flinders Lane embodies the ongoing trend of investors and tenants tweaking their portfolio strategies to incorporate laneways due to their character and point of difference,” Hay said.
He cited another ground-floor retail shop a stone’s throw away at 118 Russell Street that recently sold under the hammer for $1.75 million, representing a record $87,500 per sqm.
The sale price of 165 Flinders Lane reflected the growing appetite for quirky and unconventional retail assets in Melbourne’s CBD, they added.
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