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

<main data-perf-region="main">
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]

<h3 data-end="3697" data-section-id="q3n5ak" data-start="3672">&nbsp;</h3>
</main>

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

<html><body>
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. 
</body></html>

jonathanchancellor-7SQnKwU6yx

Sydney's Barrack Place awarded WELL Precertification

<html><body>
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.
</body></html>

j.ballantyne1990-6AQqhLzZaK

Forrest Hill strata showroom sells on a sharp 3.1% yield

<html><body>
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.
</body></html>

Murwillumbah industrial units sold for $1 million

<html><body>
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="">
</body></html>

Tech firms are the common office tenants in Sydney's city fringes: Colliers

<html><body>
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.
</body></html>

Melbourne's Inner East office market has a supply squeeze: Colliers

<html><body>
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="">
</body></html>

Mt Waverley retail property sells above reserve at 2 percent yield

<html><body>
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.
</body></html>

Collaroy hostel part of combined sale, expected to fetch over $10 million

<html><body>
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.
</body></html>

Healesville site with plans for tourism project listed for $8.8 million

<html><body>
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. 
</body></html>

jrobinson-rf4aSBido9

Nick Scali buys property in Sydney's Manly Vale for $6.2 million 

<html><body>
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>
</body></html>

Latest Investing Insights

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

Editor's Picks

Developments

New apartments

New townhouses

News

Latest Investing Insights

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

Editor's Picks

Receive the latest news stories to your inbox

Developments

New apartments

New townhouses

News