A new 25-storey apartment tower proposed for Mercer Street would push Geelong’s western gateway skyline higher, with Morphy Birrell Property Group lodging plans for a project directly beside one of the city’s most significant heritage streetscapes.

The <a href="https://www.apartments.com.au/architects/fk-australia">FK</a>-designed development at <a href="https://www.apartments.com.au/new-apartments/65-67-mercer-street-geelong-vic-3220">65-67 Mercer Street</a> has now been referred to Victoria’s Planning Minister. The site sits opposite the Geelong rail corridor and immediately south of the heritage-listed St Peter and Paul’s Catholic Church and Ashby Hall precinct.

Rather than compete with the neighbouring ecclesiastical buildings, the proposal adopts a sculpted podium intended to reference the materiality and scale of the heritage context. Planning documents note the design draws cues from the “dark stone brick” church and surrounding masonry buildings, while the tower above transitions into a softer, curved form oriented toward Corio Bay and the Geelong waterfront.

<img alt="First look: Morphy Birrell Property Group targets 25-storey Geelong tower beside landmark church precinct" data-entity-type="file" data-entity-uuid="b797d10c-d4a6-47af-b8df-1aeaa3b382be" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/public%20square.png?VersionId=QGIpcz1x1hKB6lQLl2iobyHqb6PS2Ztc" />

The development forms “Stage 5” of Morphy Birrell Property Group’s broader Mercer Street precinct strategy, following the completion of the 21-storey Miramar tower on Cavendish Street and several additional approved redevelopment stages nearby. Planning consultants Ratio said the proposal “represents an exemplary development outcome” aligned with the strategic ambitions for Central Geelong’s continued urban renewal.

The mixed-use project would replace an existing low-rise commercial building and surface parking area on the 3,320 sqm corner site. FK’s urban context report describes the proposal as a residential development comprising apartments, resident amenities, commercial space, and integrated landscaping positioned to maximise bay views and northern sunlight access.

Renders show a deeply articulated tower with curved balconies stepping above a lower masonry podium that frames a landscaped forecourt facing Mercer Street. The design intentionally preserves sightlines toward the adjacent church buildings, with the podium scaled to reinforce the heritage edge before the tower recedes upward.

<img alt="First look: Morphy Birrell Property Group targets 25-storey Geelong tower beside landmark church precinct" data-entity-type="file" data-entity-uuid="2bdca91e-66f7-4ac7-8baa-2f93bd5b564e" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/geelong%20site.png?VersionId=QOhbino4ZgzKYw5dW3QE14E.2yq.Sv87" />

The planning report highlights the site’s strategic location within 400 metres of key Geelong destinations including Cunningham Pier, the Geelong Station precinct, Deakin University, and the convention centre. Bus services run directly along Mercer Street, while the Corio Bay foreshore sits around 100 metres north of the site.

The proposal arrives amid accelerating redevelopment across central Geelong, where planning policy continues to encourage higher-density housing close to transport infrastructure and the waterfront. Mercer Street in particular has emerged as a focal point for taller apartment development due to its proximity to Geelong Station, the bay, and major civic infrastructure.

Joel Robinson

Morphy Birrell Property Group targets 25-storey Geelong tower beside landmark church precinct

Development giant&nbsp;<a href="https://www.apartments.com.au/developers/hamton">Hamton</a> and joint venture partner Hostplus have revealed the next residential stage of their $3 billion Moonee Valley Park masterplan, lodging plans for 512 more apartments within the precinct on surplus racecourse land at 110 Wilson Street, Moonee Ponds.

The proposed development, dubbed&nbsp;<a href="https://www.apartments.com.au/new-apartments/trackside-house-110-wilson-street-moonee-ponds-vic-3039">Trackside Gardens</a>&nbsp;in the planning application, follows the <a href="https://www.apartments.com.au/news/vic/first-look-exclusive-hamton-and-hostplus-reveal-sixth-stage-of-moonee-valley-park-masterplan">recent unveiling of the sixth-stage Cox Place Precinct</a> and continues the long-running transformation of the Moonee Valley Racecourse into one of Melbourne’s largest urban renewal projects.

Positioned on the north-eastern edge of the racecourse adjacent to CityLink, Trackside Gardens will comprise three residential buildings rising between 61.8 metres and 86.4 metres within a heavily landscaped precinct shaped by Hamton’s Nature Based Cities framework.

The project forms part of the broader Moonee Valley Park redevelopment being delivered by Hamton, Hostplus and the Moonee Valley Racing Club, which is reshaping the 40-hectare racecourse site into a mixed-use neighbourhood with housing, retail, commercial space, hotels, parkland and community infrastructure.

Trackside Gardens sits separately to the recently proposed Cox Place Precinct, a five-building stage comprising around 1,100 residences, two build-to-rent buildings, two build-to-sell towers, retail, office space, and a hotel overlooking the racetrack. Together, the projects continue to accelerate housing delivery across the precinct.

<img alt="First look: Hamton expands Moonee Valley Park masterplan with 512-home Trackside Gardens precinct" data-entity-type="file" data-entity-uuid="5fc1941e-52d3-41c6-abc4-0f13fe8ae5ea" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/DA%20Edits%20%281%29.png?VersionId=7qwRHq5dcvXWNot2hNOgoQhN2GIWudNK" />

Designed by <a href="https://www.apartments.com.au/architects/dko-architecture">DKO Architecture</a> with landscape architecture by Tract, Trackside Gardens has been conceived as a botanical-style residential precinct prioritising canopy planting, communal green space, and vertical landscaping.

“The architectural vision for the proposed development centres around buildings in a botanical park setting that champions the important role of nature,” the planning submission states.

“The proposal incorporates principles of biophilic design, with landscape and environmentally sustainable development influencing the ultimate design response of the buildings and prioritising the ground plane to ensure a high amenity for both occupants and visitors.”&nbsp;

Trackside Gardens will deliver 512 apartments across the three buildings, alongside 518 basement car spaces and 523 bicycle spaces. Around 20 per cent affordable housing is proposed across the broader North East Precinct, equating to around 158 dwellings.&nbsp;

The affordable housing component will be concentrated within the Wilson East building, while the remaining apartments are expected to be delivered as build-to-sell residences.

Trackside Gardens has been designed around Hamton’s Nature Based Cities initiative, founded by Executive Chair Paul Hameister OAM in partnership with the University of Melbourne, Urbis, Ark Resources and Tract. The initiative promotes integrating higher-density urban development with significant biodiversity, tree canopy and landscape outcomes.

<img alt="First look: Hamton expands Moonee Valley Park masterplan with 512-home Trackside Gardens precinct" data-entity-type="file" data-entity-uuid="89353449-7b3c-42fd-8fd8-8bf64a5ef80f" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Article%20Feature%20Image%20%28Grid%29_4.png?VersionId=X8jRt0P2L7fIWjLhfX6gPknXToXIBeLj" />

A comprehensive landscape strategy would introduce deep soil planting, vertical greening, communal gardens, and new pedestrian links throughout the site.

Planning documents state the development is targeting a 5 Star Green Star Buildings rating, a 7.5-star average NatHERS rating, and “Exemplary” Nature Based Cities certification.&nbsp;

The proposal joins an expanding pipeline of approved and proposed buildings within Moonee Valley Park, including the recently launched Eveline apartments and the approved Grandstand North and South towers.

Hamton has increasingly focused on precinct-scale, nature-led communities across Melbourne’s middle-ring suburbs, with projects spanning Hawthorn, Kew, and Moonee Ponds.

Hampton unveils Trackside Gardens, latest stage of $3 billion Moonee Valley Park masterplan

The Paul Gedoun-led <a href="https://www.apartments.com.au/developers/ss-projects">S&amp;S Group</a> has achieved another milestone in its $1 billion transformation of Rainbow Bay on the southern Gold Coast with the completion of the company’s third project in four years, the $160 million <a href="https://www.apartments.com.au/buildings/esprit-217-227-boundary-street-coolangatta-qld-4225">Esprit</a> residences.

Delivered by <a href="https://www.apartments.com.au/builders/hutchinson-builders">Hutchinson Builders</a> and designed by <a href="https://www.apartments.com.au/architects/cottee-parker-architects">Cottee Parker Architects</a>, Esprit buyers have now moved into the 94 apartments across two interconnected buildings at 217-227 Boundary Street.

The successful settlement of Esprit marks another astounding chapter in the S&amp;S story, which launched its highly successful Flow apartments three years ago and created its own ultra-luxury branded fingerprint on an area craving new luxury residences.

Most early purchasers have secured gains of well over $1 million since the project launched in 2021.&nbsp;

[smartcode_project:default project_id=102921 project_image_fid=172129]

S&amp;S Projects Founding Director Paul Gedoun said the completion of Esprit reflects sustained demand for premium apartments in tightly held coastal locations.&nbsp; 
&nbsp;&nbsp; &nbsp; 
“Esprit has attracted buyers seeking a combination of quality design, considered amenity and a location that is becoming increasingly difficult to replicate,” said Gedoun.

“We identified some years ago that Rainbow Bay is a unique market where supply of luxury residences is limited, and we see the settlements in Esprit further underpinning this thinking - that for both owner-occupiers and investors.”&nbsp;

[smartcode_project:default project_id=102921 project_image_fid=172174]

A key feature of the development is ‘Club Esprit’, a 1,000sqm residents-only rooftop level combining wellness and recreation, believed to be a first for the Gold Coast, and which is fast becoming a signature of the S&amp;S brand.

Positioned to capture views across Snapper Rocks, Rainbow Bay and the Tweed River, the rooftop includes a 25-metre lap pool, gym, yoga lawn, sauna and steam facilities, ice bath, private dining spaces, outdoor cinema and landscaped areas for residents.&nbsp;

<a href="https://www.apartments.com.au/project-marketer/pezet-matheson">Pezet Matheson</a> Director Jayde Pezet, who led the sales campaign for Esprit and S&amp;S’s Flow and Awaken apartments, said the project’s performance reflects both the strength of the product and the depth of demand for premium apartments on the southern Gold Coast.&nbsp;

“In some cases, we’ve seen values double since launch, which is a clear reflection of how tightly held Rainbow Bay has become and the level of demand for well-executed projects in this market,” said Pezet.&nbsp;

“Buyers recognised early what S&amp;S Projects was delivering here, and that conviction has been rewarded as the project has progressed towards completion.”&nbsp;

[smartcode_project:default project_id=102921 project_image_fid=214819]

Esprit offers a mix of two- three and four-bedroom apartments and sits within walking distance of the beachfront, cafés and local amenities, reinforcing its appeal as both a lifestyle and investment destination.

The project is the third completed by S&amp;S Projects in Rainbow Bay, following Flow Residences and Awaken Residences, which together have contributed to the suburb’s emergence as one of the Gold Coast’s most sought-after coastal pockets. &nbsp;

S&amp;S Projects is continuing its investment in the area with Radia, a $215 million development currently under construction.&nbsp;

[smartcode_project:default project_id=102921 project_image_fid=172175]

Gedoun said the completion of Esprit signals continued confidence in the southern Gold Coast market.&nbsp;

“We’ve seen strong interest in well-located, high-quality apartments, particularly in areas where future development opportunities are limited."

“That’s been a key factor in the performance of Esprit and the broader Rainbow Bay market”.

[smartcode_project_cta:default project_id=102921]

Owners move in as Esprit completes at Rainbow Bay

Few developers can boast a portfolio across South East Queensland's luxury markets quite like <a href="https://www.apartments.com.au/developers/mosaic-property-group">Mosaic Property Group</a>.

The builder-developer, founded in 2004 by Managing Director Brook Monahan, has projects in planning, on the market, and under construction, from Burleigh Heads and Broadbeach to Kangaroo Point and South Brisbane.

With a pipeline exceeding $2 billion, Mosaic remains highly selective when it comes to development sites, having spent years refining its strategy around feasibility research and product planning. The group is set to continue growing into 2026 and beyond.

In Brisbane, Mosaic currently has three projects in the market. It is in the final release stage at <a href="https://www.apartments.com.au/new-apartments/the-bedford-by-mosaic-16-30-prospect-street-kangaroo-point-qld-4169">The Bedford</a> in Kangaroo Point, which is approaching complete sellout ahead of its late 2027 completion.

[smartcode_project:default project_id=134792 project_image_fid=328123]

Designed in collaboration with <a href="https://www.apartments.com.au/architects/bda-architecture">BDA Architecture</a>, The Bedford comprises 128 two- and three-bedroom residences. A selection of ultra-luxury Masterpiece Series Skyhomes, positioned across the top levels, offer expansive floor plans and sweeping views of the river and city.

High-end inclusions, such as natural stone benchtops, bespoke cabinetry, and Miele appliances, feature throughout all apartments, alongside the Rooftop Recreation &amp; Retreat Sky Terrace. This includes a resort-style pool with sun deck and loungers, spa, cold plunge pool, sauna, steam room, private dining room with a full kitchen, residents' lounge, multiple barbeque and relaxation zones, an outdoor viewing deck, and landscaped gardens with water features, all oriented to sweeping city and river views.

A gym with indoor and outdoor zones, and a golf simulator, further enhances recreational choice within the building.

[smartcode_project:default project_id=134792 project_image_fid=328119]

A defining feature of the development is its integrated mixed-use component, which will deliver Kangaroo Point's first major supermarket, alongside a café and liquor store, bringing long-awaited convenience to the peninsula.

Monahan says The Bedford represents the culmination of a near-decade-long journey, after first identifying the A-grade Prospect Street site in 2016. While they came close to acquiring it at the time, the site was ultimately purchased by Woolworths' development arm, Fabcot. The opportunity resurfaced in 2024 when the site, vacant for nearly three decades, was brought back to market.

Monahan says Mosaic projects often begin years before any formal plans are drawn. Their new South Brisbane development is no exception, with the site first earmarked in 2018.

"We aren't opportunistic," Monahan says. "Every site purchase is carefully considered. As seen with Kangaroo Point and South Brisbane, it can take years to eventuate. There are sites we're looking at now that we may not secure for several years."

[smartcode_project:default project_id=141711 project_image_fid=353495]

A similar story unfolded at <a href="https://www.apartments.com.au/new-apartments/the-carter-by-mosaic-77-linton-street-kangaroo-point-qld-4169">The Carter</a> in Kangaroo Point, opposite The Gabba. Like The Bedford, it is also approaching sellout of its 125 two- and three-bedroom apartments. The majority of sales are attributed to returning customers and referrals, with a balanced mix of investors and a strong majority of owner-occupiers.

BDA Architecture was again engaged to design the 22-storey building, which will feature a suite of wellness and lifestyle amenities, including a golf simulator and cinema, a commercial-grade gym, and a rooftop recreation level with a pool, steam room, sauna, cold plunge, teppanyaki bar, private dining spaces, and landscaped terraces.

Construction is on track for completion in mid-2027.

[smartcode_project:default project_id=151614 project_image_fid=362759]

Mosaic's latest offering is its most ambitious yet, boasting a rare, north-facing riverfront position on Montague Road in South Brisbane.

<a href="https://www.apartments.com.au/new-apartments/the-riversdale-by-mosaic-south-brisbane-91-montague-road-south-brisbane-qld-4101">The Riversdale by Mosaic</a> is a 39-storey tower comprising just over 200 residences and Masterpiece Series Sky Homes. Designed in partnership with Bureau Proberts, it will feature nearly 3,000 sqm of genuine, internationally benchmarked six-star, hotel-style amenities, including a wellness precinct, pool, gym, massage and treatment rooms, cinema, golf simulator, and extensive outdoor dining areas across a two-level rooftop deck.

Early works are underway, with full construction expected to commence in the second half of 2026, and an anticipated late 2029 completion.

[smartcode_project:default project_id=151614 project_image_fid=362759]

Since 2012 alone, Mosaic has completed more than $2 billion in projects and is set to deliver another $2 billion worth of developments, comprising hundreds of luxury apartments, each defined by Mosaic's signature standards of quality, detail, and delivery.

"We never arrive, there is no finish line," says Monahan. "Our ambition is to keep evolving what luxury means, creating design- and lifestyle-led residences in incredible locations, places people genuinely aspire to and want to live, homes that are loved deeply and endure long beyond their moment."

Mosaic's Midas Touch

<a href="https://www.apartments.com.au/developers/urban-property-group">Urban Property Group</a> (Urban) has broken ground at Keira Place, its new major mixed-use residential precinct in the heart of Wollongong CBD.

Held at 120-122 Smith Street, the groundbreaking marked the commencement of construction on Stage 1 of <a href="https://www.apartments.com.au/new-apartments/keira-place-120-122-smith-street-wollongong-nsw-2500">Keira Place</a>, with the opening of the new display suite. 
&nbsp; 
Keira Place is a State Significant Development that will deliver new housing supply, affordable homes and inclusive living options within walking distance of Wollongong’s CBD, coastline, transport, hospital and education precincts.

[smartcode_project:default project_id=144442 project_image_fid=369868] 
&nbsp; 
Stage 1 is now under construction and will deliver 150 apartments across two residential buildings, including 27 affordable housing apartments and 18 specialist disability accommodation dwellings, along with activated ground-floor retail and commercial space. 
&nbsp; 
Urban Co-CEO Patrick Elias said the groundbreaking represented a significant milestone for Wollongong and reflected Urban’s long-term commitment to regional cities.

“Today’s groundbreaking is about turning approvals into homes and moving quickly to deliver much-needed housing in Wollongong’s city centre,” Elias said. 
&nbsp; 
“Keira Place will provide a diverse mix of homes close to jobs, transport and services, while setting a high benchmark for quality, durability and consumer protection.”

[smartcode_project:default project_id=144442 project_image_fid=369869] 
&nbsp; 
Hon. Paul Scully MP, Minister for Planning and Public Spaces, Member for Wollongong said Keira Place is exactly the kind of development Wollongong needs – delivering new homes close to transport, employment and services, while supporting the continued growth and renewal of the CBD.

"This project reflects the Minns Labor Government's commitment to increasing housing supply in well-located areas." 
&nbsp; 
Wollongong Lord Mayor Cr Tania Brown said Keira Place would deliver lasting community benefits for the city. 
&nbsp; 
"Keira Place is a welcome addition to Wollongong's CBD delivering new housing, affordable homes and activated street-level spaces that will benefit our community for years to come," Brown said. 
&nbsp; 
"Urban Property Group's investment reflects the confidence that quality developers have in Wollongong's future, and I look forward to seeing this precinct come to life."

[smartcode_project:default project_id=144442 project_image_fid=369867] 
&nbsp; 
Designed by <a href="https://www.apartments.com.au/architects/cox-architecture">Cox Architecture</a>, with interiors by <a href="https://www.apartments.com.au/interior-designers/dko">DKO,</a> Keira Place prioritises liveability and long-term performance, with landscaped shared spaces, generous apartment layouts and a pedestrian-friendly streetscape along Smith Street. 
&nbsp; 
Residents will have access to landscaped podium areas, communal rooftop amenities with views to Mount Keira and the Wollongong skyline, and convenient ground-level retail.

The development will have 10-year Latent Defects Insurance by Resilience Insurance.

[smartcode_project_cta:default project_id=144442]

Groundbreaking marks start of construction at Keira Place in Wollongong CBD

Prominent New Zealand apartment and hotel operator, <a href="/developers/safari-group">Safari Group</a>, is offering up a prime investment opportunity for Australians to purchase off the plan in one of the world’s most popular ski destinations.

They recently took to market Mountain Oak Queenstown Apartments, in the growing precinct of Remarkables Park in Frankton, near the airport and at the foot of The Remarkables - the mountain range the locals like to call “The Remarks”.&nbsp;

Sydney investors have shown interest in the one, two and three-bedroom apartments that secure high-season occupancy six months over the year, primarily over summer and winter months.

They average 90 per cent occupancy across their portfolio over January, February, March, August, November and December, while shoulder season months of April, July, September and October are still occupied 70 per cent of the time, with the growing appeal of Queenstown becoming not just a hotspot for the snow, but a lifestyle destination.

Even in the low seasons of May and June, occupancy levels reach around 40 per cent.

<img alt="Safari Group’s Mountain Oak Apartments brings new investment potential to Queenstown" data-entity-type="" data-entity-uuid="" src="https://res.cloudinary.com/dz9xllyip/image/fetch/f_auto,c_limit,w_1440,q_auto/https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/field/image/Ext_Cam15_Sunny.jpg?VersionId=SJAROUM_1s.Tr5ciMk4EEj5oAt_Vewmv" />

Safari’s Safari Hotels arm can also manage the holiday letting for an investor, from the listing on holiday accommodation websites such as Airbnb and Booking.com to the cleaning and maintenance of the investment. They’ve been in the short stay management business for 15 years and offer 24/7 support for investors, an important convenience benefit for any overseas investor

Another major drawcard for Australians is that New Zealand doesn’t have a stamp duty policy - so the entry price of NZ$639,000 (AU$586,000), is all that is payable on completion.

<img alt="Safari Group’s Mountain Oak Apartments brings new investment potential to Queenstown" data-entity-type="" data-entity-uuid="" src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,dpr_2.0,q_auto:good/https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/313_Livingv2_WEB.jpg?VersionId=nV229fM0ZeYpoxOrX372HyGjfwY_LR8c" />

Safari is starting construction of the 141 apartments in Q2 this year, with a two-year build estimated to complete in mid-to-late 2027.<img alt="" data-entity-type="" data-entity-uuid="" height="15" src="https://lh7-rt.googleusercontent.com/docsz/AD_4nXczFpFAb7WuA6f4f9TtKWcqXyNwR8qqtakWv352ERkpqNlP3KwIo8YKxw67jZNHfpjEGIZGv5MQTbnvLZwNt8iu9IVdOrswOjCvBZ4zhSoOOLrpt6etVEZTN1gkBho0r_R72zdHNA?key=yq3daOanqHSb88QFd8jGYKdb" title="Click and drag to move" width="15" />​

The apartments will feature modern amenities and contemporary designs with expansive windows capturing sweeping views of The Remarkables mountain range.&nbsp;

Interiors are equipped with modern finishes, premium appliances, and secure electronic key-locked doors, ensuring a comfortable living experience for residents and guests alike.

With its strategic location near Coronet Peak and Cardrona Alpine Resort, as well as key retail and dining precincts such as Market Street, Five Mile Shopping Centre, and Remarkables Market, Mountain Oak offers a strong proposition for investors seeking high rental yields and capital appreciation in one of New Zealand’s most sought-after locations.&nbsp;

Queenstown’s sustained demand for visitor accommodation and rental properties is underpinned by a shortage of housing options, attracting both local and international buyers.

Safari Group offers low-touch investment proposition in Queenstown’s popular ski fields district

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Sydney's Barrack Place building at 151 Clarence Street has been awarded Australia’s first ever WELL Core &amp; Shell Precertification at the Gold level by the International WELL Building Institute.
Barrack Place is currently being leased by Investa and Savills.
Barrack Place won the Precertification involved upgrading the building systems and improving the design.
Shen Chiu, Senior Development Manager at Investa said while individual tenancies within buildings have achieved WELL Certification in Australia, they are leading the way with the first WELL Core &amp; Shell Precertification in a new development.
“New buildings provide a unique opportunity to deliver a healthy place to work from the ground up," he said.
"The WELL Building Standard allows us to go one step further, by incorporating the science of wellness into the fabric of the building and locking in these benefits for decades to come." 
"Achieving this will allow tenants at Barrack Place to leverage certain aspects of the building’s design and services when doing their own space planning and our team will continue to manage the implementation to ensure it is carried through to WELL Certification.” 
Investa began work towards the pre-certification with IWBI over a year ago to find out how WELL Core &amp; Shell Certification could be adapted to the Australian office environment for the entire base building design at Barrack Place.
WELL is a performance-based system for measuring, certifying, and monitoring features of the built environment that impact human health and wellness through air, water, nourishment, light, fitness, comfort and mind. 
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Sydney's Barrack Place awarded WELL Precertification

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A strata-titled ground floor showroom space in South Yarra’s booming Forrest Hill precinct has sold for $2.275 million on a sharp 3.1% yield.
The 6 Almeida Crescent property is leased to South Yarra Art House Gallery, and returns $70,000 per annum plus outgoings and GST.
The 290 sqm property forms part of a low-rise two-storey development encompassing seven units, which sits on an 845 sqm site.
It is located in the Forrest Hill precinct that is home to nearly 4,000 residents and has seen around $2 billion worth of construction take place, with upcoming developments including the 50-storey Capitol Grand development on the corner of Toorak Road, and the 661 Chapel Street development just nearby the Almeida Crescent site.
Fitzroys agent Chris Kombi sold the property.
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j.ballantyne1990-6AQqhLzZaK

Forrest Hill strata showroom sells on a sharp 3.1% yield

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Industrial units in a complex at Murwillumbah in far north coast NSW have been sold by Ray White Commercial for $1 million.
Units 1 &amp; 2 at 5 Hayley Place, Murwillumbah, Burringbar, were sold off-market to a private buyer by Darren Jones and Assi Dadon of Ray White Commercial on behalf of a private owner.
Jones said the vacant properties had easy access to the Tweed Valley Way.
“These high clearance warehouse buildings are in a quiet location and offered three entry doors as well as a substantial hardstand area at the rear,” he said.
Unit 1 is a 450 sqm warehouse. Unit 2 also has a floor area of 450 sqm with an extra 150 sqm of offices or liveable space at the front.
The warehouses also offered three phase power and plenty of onsite parking.
Murwillumbah is located on the Tweed River and is in one of the fastest growing regional areas of NSW and is well-supported with established commercial and service infrastructure, the agents said.
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Murwillumbah industrial units sold for $1 million

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Tech firms in Sydney's City Fringe are the common tenants for the office market, according to Colliers International’s latest Metro Office report.
“Creative industries (and increasingly, tech firms) continue to underpin the City Fringe office market, with these tenant types seeking out space in character/heritage buildings in suburbs such as Pyrmont, Ultimo &amp; Surry Hills.
"Creative industry tenants have been able to collaborate with owners regarding specific fit-out options and in some cases minor refurbishments have taken place – such as exposing ceilings - in order to add a contemporary and modern feel,” the report stated.
However, Colliers says supply is constrained and competition and demand is rising.
“We are seeing consistent demand and increasing competition, as supply is extremely constrained.
"Increased rental levels and a judgement call by owners on the duration of favourable conditions in the residential market are seeing more consideration of retaining properties in office use, rather than the prevalent change of use to residential which has dominated the market in the last few years,” the report warned.
Colliers says that the expansion of the digital and creative industries of late has further constrained supply, leading to a substantial increase in rents over the last 12 months.
“A Grade net face and net effective rents have grown 19.3 per cent and 30.7 per cent respectively with B Grade increasing 9.4 per cent and 19.5 per cent respectively.
"As competition for space has increased, incentives have declined, with A Grade falling three percentage points to 19 per cent and B Grade falling five percentage points to 16 per cent.
"Few examples of incentives in the 20 per cent plus bracket now exist, and we forecast more downward pressure on incentives, with examples already emerging of sub 10 per cent in some cases
"Google has extended their lease to 2021 at Workplace 6 in Pyrmont and confirmed take up of an additional 6,000 sqm of ex-Accenture space in the same building.
"This comes as recent news of Google abandoning plans to move to White Bay Power Station, citing infrastructure shortfalls,” the report stated.
Low vacancy rates is resulting in limited whole floor or building reports, Colliers says.
“Due to low vacancy rates, there is limited whole floor or whole building evidence to report.
"However, we note that our fringe leasing team is currently finalising over 5,000 sqm of leasing transactions in this precinct contributing to the low vacancy environment,” the report commented.
"A 88 sqm office at <a href="https://www.realcommercial.com.au/property-offices-nsw-surry+hills-500469903">88 Foveaux Street</a>, Surry Hills (above) has been listed for $920,000.
"Similarly, an 82 sqm office at <a href="https://www.realcommercial.com.au/property-offices-nsw-ultimo-502352182">101/330 Wattle Street</a>, Ultimo (below) has been listed for $390,000.
<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/2017/05/02/101330%20Wattle%20Street.jpg" alt="">
A 29 sqm office at <a href="https://www.realcommercial.com.au/property-offices-nsw-surry+hills-502265830">214/400-410 Elizabeth Street</a>, Surry Hills (below) was recently sold in March this year.
<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/2017/05/02/214400-410%20Elizabeth%20Street.jpg" alt="">
Similarly a 136 sqm office at <a href="https://www.realcommercial.com.au/property-offices-nsw-pyrmont-502249426">95/26-32 Pirrama Road</a>, Pyrmont (below) was recently sold in April this year for $1.5 million.
<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/2017/05/02/9526-32%20Pirrama%20Road.jpg" alt="">
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Tech firms are the common office tenants in Sydney's city fringes: Colliers

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From a demand perspective, Melbourne's Inner East is just as highly sought after as the City Fringe market, however, the opportunities for tenants to move around are limited, according to Colliers International’s latest Metro Office report.
“While our vacancy rate has increased in the six months to March 2017, from 4.15 per cent to 6.3 per cent, a number of the larger tenancies that have recently become vacant are currently in Heads of Agreement (HOA) stage, thus we expect the vacancy rate to quickly fall down again to 5.9 per cent by September 2017, and further to 4.7 per cent by this time next year," said the report.
One of the larger vacancies to be leased in late 2016 was 2 Luton Lane (above) to Swinburne University. This was a 5,660 sqm deal which was completed before the space even became vacant, hence is not reflected in our net absorption figures, Colliers said.
"Orora also renewed 4,000 sqm of space at 109 Burwood Road, Hawthorn. Again, this is a large tenant commitment to the Inner East market that is not reflected in net absorption,” the report stated.
Rents in the Inner East continue to increase despite increasing vacancy rates, Colliers says.
“Rents continued to increase in the Inner East, despite the increase in the vacancy rate, as the underlying demand not reflected in the figures has pushed landlords to increase face rents and reduce incentives.
"Face rents grew by 5.6 per cent in the year to March 2017, and coupled with a decline in average incentives from 18 per cent to 15 per cent, the overall increase in effective rents was 9.1 per cent.
"We are forecasting very similar (nine per cent) effective rental growth over the next 12 months, as continued tenant demand and no supply constrain tenant options.
"Despite good tenant demand in the Inner East, there is only one development in the pipeline for this precinct, following the completion of Vicinity’s new 13,650 sqm building adjacent to the shopping centre,” the report said.
Colliers says that net absorption will remain below averages in the long term.
A new development at 139-155 Camberwell Rd, Camberwell is expected to add 8,000 sqm of supply in late 2018.
Most development sites in the Inner East are still proposed as residential or student accommodation projects.
"For this reason, we expect that net absorption will remain below long-term averages over the next few years, as tenants are forced to look to other markets for accommodation.
"This is the continuation of a recent trend we have been seeing in the Inner East, which in the five years to 2015 absorbed an average of 15,000 sqm of space each year,” the report says.
Yields have compressed similar to the City Fringe market in Melbourne, Colliers says.
Since 2015, only 3,000 sqm of space has been absorbed on average in this precinct, a stark illustration of supply constraints impacting tenant activity.
A total of $240 million of commercial property was transacted over 2016, with Charter Hall’s $140.5 million purchase of a 50 per cent interest in 800 Toorak Rd, Hawthorn East accounting for the bulk of the transaction volume figure.
"Yields have compressed in line with the City Fringe market, at 100bps to average six per cent for A Grade assets as at March 2017,” the report stated.
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Melbourne's Inner East office market has a supply squeeze: Colliers

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A standalone retail investment with redevelopment potential in Melbourne’s affluent south-east suburb of Mount Waverley has sold at auction for a yield of 2 percent yield.
The property at 6 Andrew Street fetched $616,000 at the on-site auction — well above the reserve price — and was snapped up by a local investor.
The selling agent was Paul Rizzo of Ray White Commercial Oakleigh.
Rizzo said the sale price was more than $160,000 above the vendor’s reserve.
“Boasting an exceptional tenant, this secure investment property trading as a laundromat is currently returning rent of $12,622 per annum on a long-term lease,” he said.
The building is on a land area of 188 sqm with potential for further development subject to council approval.
“Mount Waverley’s rising status as one of Melbourne’s fastest growing and prestigious south-eastern suburbs ensured this property appealed to a range of buyers.”
The five-year leased commenced in 2014 with two further five-year terms. The property was on the market for 39 days, RP Data showed.  
<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/2017/05/22/MountWaverley1.jpg" alt="">
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Mt Waverley retail property sells above reserve at 2 percent yield

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A popular youth hostel in Sydney’s Collaroy is on sale as part of a development site with price expectations of more than $10 million.
The YHA hostel at 4 Collaroy Street and 1 Alexander Street properties are being offered as a consolidated 2,570 sqm development site, on behalf of a local private investor, says the description on commercial property firm CBRE’s website. 
The Sydney Beachouse YHA won the best budget accommodation in NSW award in 2000. The hostel has 65 rooms, a pool and is close to Collaroy Beach.
The 1 Alexander Street property is a three-level apartment block comprising five residential units, a storage unit and three retail stores including a café and physiotherapy. 
The site last traded in 1995 for $485,000, according to RP Data
CBRE’s Aaron Arias, Toby Silk and Nicholas Heaton are marketing the properties. 
<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/2017/05/08/collaroyYHA.jpg" alt="">
 
Arias said the listing offered buyers a multi-faceted opportunity in an undersupplied market.
“The Northern Beaches market is undersupplied for quality development sites with holding income. The two properties offer prospective purchasers an opportunity to acquire a key site featuring strong rental income with the promise of high development upside due to favourable planning controls,” said Arias.
House prices in Collaroy had more than doubled since 2010, added Silk. “Given these properties have never been offered before and the size of the holding, we expect significant interest from developers who are seeking to establish a landmark, mixed use development in the heart of the Northern Beaches,” said Silk. 
The combined gross income of the two properties totals $610,200 per annum. 
The site is being offered through expressions of interest closing May 31.
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Collaroy hostel part of combined sale, expected to fetch over $10 million

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A property site where a tourism project had been planned and located at the gateway to the town of Healesville in Yarra Valley has been listed for sale. 
The site at <a href="https://www.realestate.com.au/property-residential+land-vic-healesville-201752606" target="_blank">11 Maroondah Highway, Healesville</a> is expected to fetch at least $8.8 million.
The 101 acre site earlier had concept plans prepared for a Healesville Mandarin Tourism Project and was rezoned to Special Use Zone Schedule 2 to encourage the development of a tourist precinct. 
The original concept plans allowed for hotel/motel accommodation and self-contained villas, convention facilities including meeting rooms, restaurant and chapel, Chinese landscaped gardens and associated facilities including shops and car parking.
<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/2017/05/22/Healesville2.jpg" alt="">
The land has views to nearby mountain ranges, a large dam, cleared and undulating paddocks.
The site is close to the township, wineries and the renowned Healesville Sanctuary where visitors can watch Australian wildlife.
The listing agent is Peter Nunn of Barry Plant.
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Healesville site with plans for tourism project listed for $8.8 million

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Furniture retailer Nick Scali Limited has acquired a site in Sydney’s Manly Vale for $6.2 million.
The 1 Kenneth Road property is a mixed-use site with potential for further development.  
Nick Scali said in its half-yearly report that the company had committed to acquire a property at Manly Vale (NSW) for a purchase price of $6.2 million, excluding statutory costs. It had paid a deposit of $620,000 and the property would settle after December 31. 
The total land area of 1 Kenneth Road &amp; 265 Condamine St is 1,553 sqm. It has dual street access. 
It is a rapidly growing residential area with neighbouring properties approved for shop top development, says the description. The area has numerous housing developments, providing for an ideal setting for a furniture retailer, such as Nick Scali.
The deal was brokered by Raine &amp; Horne Commercial’s Vincent West. 
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Nick Scali buys property in Sydney's Manly Vale for $6.2 million 

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Commercial property sales rose by value in the last quarter, according to CoreLogic’s latest Wellington Cityscope.
The property data firm says that for the three months to April 2017, there were 12 sales at a total value of $161.8 million, compared to 19 sales at a total value of $111 million for the previous quarter.
The yearly figures show that both the number of sales and the total sales value have decreased considerably.
For the 12 months to April 2017, there were 60 sales at a total value of $393.9 million, compared to 97 sales at a total value of $666.7 million for the previous 12 months.
The table below shows sales recorded for the past eight updates of Wellington Cityscope.
<a href="https://www.propertyobserver.com.au/images/2017/04/28/Screen%20Shot%202017-04-28%20at%201.36.06%20pm.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/2017/04/28/Screen%20Shot%202017-04-28%20at%201.36.06%20pm.jpg" alt="">
Notable sales in the April 2017 update of Wellington Cityscope include:
<ul>
<li>The 125-year leasehold of The PwC Centre Site 10 development at 10 Waterloo Quay, Pipitea, a development site at earthworks stage in April 2017, which was to have been a four-storey office building with typical floor plates of 2,000 and basement car parking with ground level retail, which sold for $89.2 million;</li>
<li>89 The Terrace and Lambton Square &amp; Eatery, at 89 The Terrace, Wellington Central, a 14-level building with ground floor retail and a net lettable area of 16,920 sqm, which sold for $57 million and</li>
<li>203-209 Willis Street, Te Aro, a nine-storey office building with basement parking for 22 cars and a building area of 4,770 sqm on a site area of 1,170 sqm, which sold for $5.6 million.</li>
</ul>
<a href="https://www.propertyobserver.com.au/images/2017/04/28/Screen%20Shot%202017-04-28%20at%201.36.41%20pm.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/2017/04/28/Screen%20Shot%202017-04-28%20at%201.36.41%20pm.jpg" alt="">
Properties listed as for sale in the April 2017 update of Wellington Cityscope include:
<ul>
<li>191-195 Cuba Street, Te Aro, a three-storey building with shops on the ground floor and galleries above, available through Bayleys Wellington;</li>
<li>204-210 Willis Street, Wellington Central, a six-storey office building, including ground and mezzanine floors, with retail on the ground floor, offices above, and 10 car spaces to the rear, available through CBRE and</li>
<li>Champerelle Building, 6 Edward Street, Te Aro, a three-storey former factory/warehouse built in 1905 with upper levels now being residential apartments, available through Bayleys Wellington.</li>
</ul>
Leasing opportunities listed in the April 2017 update of Wellington Cityscope include:
<ul>
<li>Eagle Technology House, at 135 Victoria Street, Te Aro, an 11-storey office building comprising retail on the ground floor, first floor parking for 33 cars and nine office floors, which has office space of 5,000 sqm available through CBRE;</li>
<li>Harbour City Tower and Shopping Centre, at 179-193 Lambton Quay, Wellington Central, an eight-storey office to Lambton Quay with four storeys to Brandon and Panama Streets and car parking in Harbour City Car Park, which has office space up to 4,755 sqm available through Bayleys Wellington.</li>
<li>MWH House, at 123 Taranaki Street, Te Aro, a four-storey office building with parking for 23 cars has levels 1, 2 and 3 available through Colliers International.</li>
</ul>
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