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.

Joel Robinson

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

Local developer Harridan is seeking to turn its Woolloongabba apartment project into the first stage of a broader transformation of Burke Street, using a new 16-storey mixed-use building to establish a greener pedestrian connection toward the rapidly evolving Boggo Road transport and knowledge precinct.

The South East Queensland developer has filed plans for 154 apartments on the <a href="https://www.apartments.com.au/new-apartments/4-burke-street-woolloongabba-qld-4102">southern side of Burke Street</a>, where its proposal has been designed alongside a wider vision by LatStudios for the street.

That vision positions the southern side of Burke Street for buildings of 15 storeys and above, while envisaging lower-rise development of up to five storeys on the northern side to transition into Woolloongabba's existing character housing. It also proposes wider pedestrian verges, deep planting, new street trees and upgrades to the pedestrian approach to Boggo Road Station.

The Harridan development itself has been designed by Brisbane-based Arqus Design and will comprise 154 apartments across 16 storeys. The mix is weighted heavily toward two-bedroom apartments, with 121 proposed alongside 10 one-bedroom and 23 three-bedroom residences. There will typically be around 14 units per floor.

A lower-ground car park and three podium levels will accommodate 156 resident parking spaces, along with visitor and commercial parking. There will also be 154 resident bicycle spaces and 40 visitor bicycle parks.

&nbsp;

Harridan is a family-owned developer and part of the Holmwood Highgate Group, with more than three decades of development activity across South East Queensland. Its portfolio spans residential, commercial and industrial property, with current residential projects including Riverbank on Byron in Bulimba, Esperance Residences in Carina and The Precinct at Kinross Road in Thornlands.

Wooloongabba has been popular for apartment developers, particularly since the announcement of the 2032 Summer Olympics games in Brisbane.

While there have been a lot of development applications, it has failed to materialize into real supply.&nbsp;

Sarazin has been the major player in the area. They are under construction at Murcia Residences, on the fringe of East Brisbane and Woolloongabba. They have just launched <a href="https://www.apartments.com.au/new-apartments/the-stanley-residences-woolloongabba-8-trafalgar-street-woolloongabba-qld-4102">The Stanley Residences</a>, in Woolloongabba on Trafalagar Street. They also have Nuage coming soon on the nearby <a href="https://www.apartments.com.au/new-apartments/nuage-woolloongabba-14-wellington-road-woolloongabba-qld-4102">Wellington Road</a>.

First look: Harridan plans Burke Street transformation beside Boggo Road transport hub

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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Developer Stockland will soon start work on the expansion and upgrade of the Stockland Wendouree Shopping Centre in Victoria’s Ballarat. 
The project is expected to cost $37 million, Stockland said in a media release.
The redevelopment work, which starts on July 6, will see the addition of 6,700 sqm of retail floor space, with a focus on fashion, casual dining and everyday convenience. Upon completion, the centre will feature more than 100 retailers, reaffirming its position as the largest enclosed shopping destination in the area. 
Stockland Group CEO of Commercial Property, John Schroder, said the company was responding to customer feedback in undertaking the upgrade.
“Our vision is to create the best retail shopping destination in Victoria’s central west. We’re responding to our customers’ feedback to ensure Stockland Wendouree remains the retail destination of choice with a greater range of specialty fashion, retail services and a vibrant and inviting casual dining experience for our customers to enjoy,” he said.
There will be a new full-line 3,800 square metre Woolworths and an adjoining BWS liquor store. 
There will also be a laneway dining precinct to be added as part of the redevelopment. The new foodie hub will offer indoor and outdoor seating and a variety of casual dining choices including cafes and restaurants. 
<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/2017/05/23/Stockland2.jpg" alt="">
Ballarat has been identified as one of the largest and fastest growing regional cities in Victoria with its population expected to reach 139,650 by 2031.
“Ballarat is a fantastic city steeped in history, with a strong and diversified economy,” said Schroder.
Sustainability at Stockland Wendouree will also be part of its design with plans for a rooftop solar installation to reduce carbon emissions. 
The development at Stockland Wendouree will take approximately 12 months to complete. Stockland expects the project to generate approximately 500 jobs during construction and 250 local retail jobs in perpetuity.
The centre will remain operational during the redevelopment period with most retailers trading as normal. 
Woolworths will temporarily cease trading at the centre from 4 June 2017 to make way for the construction of a new revitalised Woolworths supermarket. 
 
 
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jonathanchancellor-7SQnKwU6yx

Stockland to start $37 million upgrade of Ballarat shopping centre

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A bluestone country hotel in NSW’s Goulburn district is set to go under the hammer on June 2 with price expectations of $700,000.
Located at <a href="https://www.eldersrealestate.com.au/residential/buy/property-other-nsw-taralga-684526" target="_blank">24 Orchard Street Taralga</a>, the country hotel was established in 1876.
The listing agent is David Medina at an Elders Real Estate auction. 
According to its description, it is an “excellent repeat business with outstanding further potential”
It sits on a 3,230 sqm site. The two-storey hotel has seven rooms that can accommodate up to 23 guests, and includes a manager’s quarters with two bedrooms.
Owners Brad and Rob Norford bought into the Taralga Hotel just 12 months ago, but ill health has prompted an unplanned early exit, said a post in Domain. 
The rooms have built-in wardrobes and is close to shops.
<img src="https://www.urban.com.au/images/2017/05/23/Taralga1.png" alt="">
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Historic Goulburn district Taralga Hotel up for auction 

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A tenanted industrial site at Stapylton within the Yatala Enterprise Area (YEA) on the northern Gold Coast is set to go under the hammer through Ray White on June 15.
The property at 243 Stapylton-Jacobs Well Road comprises mainly hardstand and two large industrial units.
The YEA is already home to more than 550 small, medium and large businesses and employs more than 10,000 skilled locals, with projections estimating this impressive statistic will grow to more than 16,000 within the next two years.
The listing agent is Debbie Phillips of Ray White Industrial M1 North.
It currently has four tenants and returns gross rental income of $293,105 per annum. Three phase power, natural gas to site, as well as two envirocycle tanks are installed for some tenants.
“There is potential for total gross annual rental income of more than $385,000 per annum,” she said.
The property sits on an area of 35,200 sqm. 
The property is located within a kilometre of the M1 Motorway and is situated between Brisbane and the Gold Coast. 
“The property is zoned for ‘Future Medium Impact Industry’ under the Gold Coast City Council Planning Scheme,” she said.
 
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Industrial site in northern Gold Coast's Stapylton up for auction

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A four storey retail and commercial building with three street frontages in the Sydney northern suburb of Hornsby is on the market.
The 108 George Street property features 4,397 sqm of lettable space and has a ground floor retail showroom, three levels of commercial or office accommodation and three levels of basement parking for 86 vehicles.
Retail and office space is currently 100 percent occupied, with leases to Officeworks, the NSW State Government, United Protestant Association of NSW and Australian Unity. Midas Australia has a10 year lease on neighbouring land.
The property is represented through Matthew Dunn and Tim Grosmann of Savills and Talbot and Dominic Ong of Knight Frank.
Tyler Talbot said the site has been approved for B4 Mixed Use zoning under the Hornsby Local Environmental Plan 2013, and could lend itself to a significant mixed use development. 
“It is feasible to achieve a high quality mixed use development comprising a 12 storey mixed use tower with approximately 100 marketable apartments and 2,500 sqm commercial/retail space,” he said.
108 George Street is being sold via expressions of interest through Savills and Knight Frank, closing Thursday, 1 June.
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j.ballantyne1990-6AQqhLzZaK

Hornsby retail building to hit the market

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In calendar year 2016, metro investment volumes as a proportion of total Sydney CBD and metro sales were 57 percent with $3.9 billion in transaction volumes recorded compared to the CBD’s $2.9 billion, according to Colliers International's latest Metro Office report.
"On a 10 year average, metro sales make up 37 percent of combined CBD and metro sales each year, and for 2017 year to date, metro sales volumes have already reached 43 per cent,” the report stated.
Scarcity of investment supply and strong demand drove down metro yields during 2016 Colliers says.
“We expect A Grade metro yields to compress further as offshore groups continue to seek metro office assets to deploy capital, as investment-grade stock within the CBD remains limited.
"Market fundamentals for vendors continue to strengthen, with the Sydney-wide trend of constrained supply placing upward pressure on net effective rents,” the report advised.
Suburban peripheral markets are especially impacted by residential encroachment, heightening tenant activity as displaced tenants source alternative accommodation according to Colliers.
“Furthermore, investment in infrastructure and amenity has contributed to an uplift in rent and competition for space, especially within core metro markets such as Parramatta and North Sydney.
"Average A Grade yields for Sydney Metro have tightened by 47bps over the past 12 months to average 6.79 percent in March 2017, and the secondary market has experienced a tightening of 56bps to average a current yield of 7.74 percent.
"Taking into consideration market fundamentals and rental outlook, the purchasers of secondary metro assets will most likely be opportunistic, seeking value add opportunities,” the report stated.
Further compression of metro/office property is likely, Colliers says.
“Furthermore, the spread of 5.01 percent over the risk free rate for secondary assets suggests further significant compression is likely," it advised.
Metro office assets is still appealing to investors Colliers states.
"While metro markets have enjoyed above-average yield compression over the last six months, metro office assets still present an appealing case to investors, Coliers suggested, as the yield premium to CBD assets is currently 120bps.
"The recent offering in North Sydney of 116 Miller Street and 173 Pacific Highway (opposite the future Victoria Cross metro station) and Dexus’ Phillip Street development in Parramatta (pre-committed by the Department of Education for a 12 year term) should see the yield spread between CBD and metro assets narrow,” the report advised.
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Scarce supply of Sydney investment despite strong demand driving down metro yields: Colliers

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Queensland’s economic recovery remains on track, recording its fourth consecutive quarter of growth, expanding by 0.9 percent in Q4 2016, the strongest quarterly result in more than four years, according to Cushman &amp; Wakefield's latest report. 
<a href="https://www.propertyobserver.com.au/images/2017/04/18/Screen%20Shot%202017-04-18%20at%209.42.26%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/2017/04/18/Screen%20Shot%202017-04-18%20at%209.42.26%20am.jpg" alt="">
"Growth in public investment and stronger household consumption underpinned the positive result, offsetting weakness in private investment.
Brisbane’s occupier market continues to be driven primarily by transport, logistics and construction industries.
Tenant demand continues to improve as tenants take advantage of competitive rents and attractive terms in the prime market," the report stated.
<a href="https://www.propertyobserver.com.au/images/2017/04/18/Screen%20Shot%202017-04-18%20at%209.42.37%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/2017/04/18/Screen%20Shot%202017-04-18%20at%209.42.37%20am.jpg" alt="">
Volvo has recently committed to a long-term lease, of ~10,000 sq m in the Metroplex Westgate industrial park, for their Australian head office and service centre.
Rental values have remained mostly stable over the last six months, with North and Trade Coast at a premium to other markets in Brisbane.
Prime net face rent in these areas are generally $10-$20 more per sq m for assets &lt;4,000 sq m.
<a href="https://www.propertyobserver.com.au/images/2017/04/18/Screen%20Shot%202017-04-18%20at%209.42.53%20am.jpg" target="_blank">Click to enlarge</a>
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"Infrastructure projects, such as Transurban’s Logan Enhancement Project, are likely to result in increased tenant demand in the South and West markets, potentially leading to greater upward pressure on rents than seen recently.
"Investment volume totalled $88m in Q1 2017, down from $173m in Q4 2016.
"The South led again in terms of total investment volume, underpinned largely by Deutsche Asset Management’s acquisition of 60-80 Southlink Avenue, Parkinson for approximately $37m," the report said.
<a href="https://www.propertyobserver.com.au/images/2017/04/18/Screen%20Shot%202017-04-18%20at%209.43.08%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/2017/04/18/Screen%20Shot%202017-04-18%20at%209.43.08%20am.jpg" alt="">
"As a result of ongoing investment, prime yields in the South have compressed a further 25 bps over the past six months.
Occupier and investor demand is expected to strengthen in line with Queensland economic and industrial production growth," the report predicts.
<a href="https://www.propertyobserver.com.au/images/2017/04/18/Screen%20Shot%202017-04-18%20at%209.43.18%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/2017/04/18/Screen%20Shot%202017-04-18%20at%209.43.18%20am.jpg" alt="">
"While we expect investor demand to remain robust, more restrictive financing terms may see potential owner-occupier refocus on leasing assets rather than acquiring them.
This should provide further support for increased leasing activity going forward," the report advised.
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Private investment in Brisbane's industrial market weakens

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A retail investment in South Yarra with a long-term tenant has sold for $843,000 to a local first-time commercial investor.
The 64 square metre building at 5/159A Williams Road was sold on a yield of 4.7 percent.
Ray White Commercial Oakleigh’s George Kelepouris sold the property on behalf of a local owner.
“The tenant initially took out a three-year lease in November, 2014, and has a further 2 x 3 year options,” he said.
“This property is an outstanding Hawksburn Village location and is returning net rental of almost $40,000 per annum.
“It was ideal for a self-managed super fund or as a passive investment.”
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Retail property in Hawksburn Village, South Yarra sold

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Retail investment for Q1 2017 totalled $1.1bn, up 23 percent on the same period last year according to Cushman &amp; Wakefiled's Retail Investment Snapshot for the quarter.
According to the report Queensland accounted for 43 percent ($457m) of the national investment volume. 
"In contrast, New South Wales and Victoria recorded $262m and $221m, both below respective longer- run averages, as limited available stock was on the market," the report said.
"Foreign investment rebounded strongly in Q1 2017 to $533m, up from $297m in Q4 2016.
"Foreign investors were active across different centre types and sizes. This was highlighted by German- based Deka Immobilien’s purchase of the Canberra Outlet Centre for $135.5m, with a further $160m committed to a Redbank Plains sub regional centre by Rockworth Capital Partners, and $87m into two neighbourhood centres.
"With a lack of activity in larger core retail assets, where yields are tighter, average transaction yields remained stable for the quarter at 6.3 percent.
"Many of the trends evident in 2016, such as retail property’s relative value proposition and competition to secure assets, remain in place into 2017.
"However, we expect more stock to come to market as established owners sell non-core assets to recycle capital into existing assets. Equally, active traders are likely to dispose of assets to seek new opportunities.
"Not only will this bring increased liquidity, and support overall transaction volumes, but also provide opportunities for new market entrants all along the risk curve. 
"In December 2016, Moving Annual Turnover (MAT) grew 3.4 percent, though continued the downward trend from a peak of 5.7 percent in late 2014.
"Retail turnover growth has been limited by weak employment and income growth though consumer sentiment has bounced back to 99.6 reflecting a more positive attitude towards national economic growth."
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Retail investment for Q1 2017 totals $1.1b: Cushman & Wakefield

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The outlook for retail markets in Brisbane continues to be generally positive, according to Herron Todd White’s latest report.
The property valuation firm says that however there is now an increasing perception that yields may finally have reached a low point.
“To put the story of recent years into perspective, we have seen retail yields generally move by between 150 and 200 basis points, which based on a starting yield of say 8 percent, translates to capital growth of upwards of 25 percent over a three year period.
 In some instances, capital growth has been upward of 35 percent,” the report stated.
Sales activity has been moderate for the quarter.
Major transactions include Arana Hills Kmart at $67 million, Everton Plaza at $27.5 million and Caboolture Square at $27.5 million.
These showed yields of between 6 percent and 7.25 percent.
At the convenience end of the spectrum there has been less activity with only two centres selling under $10 million.
Both of these were in the North Lakes region and showed yields of between 6.5 percent and 7 percent, the report stated.
Overall, the volume of sales activity has generally been low, primarily as a result of a shortage of stock and lack of other strong yielding investment options.
“With the perception however that yields will be bottoming out, we anticipate a rise in investment sales activity, particularly if interest rates start to rise and there is any suggestion of capital values starting to fall,” the report predicted.
Retail rentals continue to be reasonably restrained with ongoing difficult trading conditions in many sectors putting the brakes on rental growth.
The weakness is evident across the board as high levels of competition, flat wages, internet retailing and changing consumer shopping patterns all contribute to a very tough retail environment.
Good buying opportunities in the market are limited at present as all reasonable assets are heavily scrutinised by a wide number of investors.
There is potentially some more opportunity to value add with secondary centres but even these are holding their value fairly well making owners reluctant to sell.
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Brisbane's retail market outlook remains positive: HTW

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The retail segment in Darwin in 2017 will experience its greatest shake up for many years when not one but two new regional shopping centres will open their doors for business, according to Herron Todd White’s latest report.
The property valuation firm says that Gateway is located on the highway on the fringe of Palmerston CBD, 18 kilometres south-east of Darwin.
This is a joint venture project between the Coombes Property Group (with local connections) and Challenger, being constructed by Hutchinsons.
It will offer a Woolworths, Big W, cinema complex and over 100 specialties and is expected to open mid-year.
Also expected to open mid-year is Coolalinga Village, located in the Darwin rural area 25 kilometres south-east of Darwin on the opposite side of the track from a large Woolworths-based complex.
Coolalinga Village is being developed by Gwelo, a long-standing Darwin developer and will be anchored by Coles and K-Mart.
There is already a fast food outlet and a service station on the site, but the main development will accommodate additional specialties with further stages already planned.
“We will therefore move from a situation where Darwin’s main growth corridor to the south-east has been under serviced by retail for many years to a situation where Palmerston and rural area residents will be spoilt for choice.
Not only will these two major centres be an option, but also new smaller centres at Bakewell, Rosebery, Bellamack and Zuccoli which are already trading or, in the case of Zuccoli, will be trading soon.
When you add to this the existing Palmerston Shopping Centre and Oasis Shopping Centre, the options are quite wide,” the report stated.
The effects on the rental market for retail space remain to be seen but the increased competitive tension between all these centres does result in some choices for tenants which have not always been available in the past.
"This may place some downward pressure on rents however if each centre can attract sufficient patronage this may not be the case," the report warned.
Certainly there will be some effect on Casuarina, which is currently Darwin’s dominant retail precinct.
"Casuarina is disadvantaged by its location in the northern suburbs which is close to the hospital and university but somewhat removed from the south-east urban growth corridor.
Casuarina is already re-inventing itself as a destination rather than just a mall retailer, with a new restaurant and entertainment precinct," the report advised.
At present, anecdotal evidence is pointing to population decline across Darwin and unless a major employment driver emerges soon, then this population decline will inevitably result in reduced trading for all retailers and difficulties for each centre attracting sufficient patronage.
“We are seeing weakness across all property segments in Darwin at the moment and the challenge will be to ensure sufficient population growth to ensure the viability of all these new outlets as well as existing facilities,” the report stated.
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