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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Canberra has seen a significant growth in house sale prices over the past 12 months, according to Herron Todd White’s latest report.
The property valuation firm says that this is partly due to low interest rates and a limited supply of houses coming onto the market.
Yarralumla has been one of the strongest performing suburbs in Canberra over the past 12 months.
"Several recent sales have broken the Canberra auction record, the most notable being 12 Hunter Street, Yarralumla, selling at auction for $5.475 million," the report advised.
Other recent sales show high prices in Canberra’s inner suburbs have forced buyers to look to the outer suburbs to find a family home.
"Some other areas that have seen considerable growth over the past year are Woden Valley, Weston Creek and the southern suburbs of Belconnen.
This trend is also confirmed by some recent vacant land sales from the Mr Fluffy scheme.
Recent sales have shown houses are proving more popular than apartments," the report stated.
This is probably due to an oversupply of apartments in the Canberra market and a continued number of apartment developments beginning construction.
Currently buyers seem to be attracted to 4- or 5-bedroom houses in established suburbs, according to HTW.
The valuation firm pinpointed a 4-bedroom home at 37 Flanagan Street, Garran (pictured above) recently sold for $1.38 million.
There was also a 5-bedroom home at 60 Barada Crescent, Aranda recently sold for $1.25 million.
The majority of the higher sale prices were for renovated or new dwellings.
"It could be assumed the buyers are families looking to settle into a long term family home.
"This trend looks set to continue as properties in established suburbs remain tightly held and highly sought after," the report stated.
As the Mr Fluffy vacant land blocks are now being brought to market there may be a number of new houses in established suburbs come onto the market.
This increased supply may reduce prices but is likely to take effect in the longer term as the blocks are still in the process of being cleared and sold.
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j.ballantyne1990-6AQqhLzZaK

Significant price growth experienced in Canberra's residential market: HTW

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Hobart home values are tipped to rise 9.2 percent in 2017 and 1.8 percent in 2018 according to the CoreLogic-Moody’s Analytics Australian Home Value Index Forecast, 2017Q1.
The report said Hobart’s property market has gained traction this year as wage growth accelerated and the unemployment rate trended lower.
<a href="https://www.propertyobserver.com.au/images/2017/04/11/Screen%20Shot%202017-04-12%20at%208.44.53%20AM.png" target="_blank">Click to enlarge</a>
<img src="https://www.urban.com.au/images/2017/04/11/Screen%20Shot%202017-04-12%20at%208.44.53%20AM.png" alt="">
"Aided by a lower Australian dollar, tourism has buttressed the local economy," the report said.
"Home values are expected to rise 9.2 percent in 2017 and 1.8 percent in 2018. However, apartments will likely fall 0.9 percent in 2017. 
"Population growth in Tasmania has picked up, driven in part by stronger interstate in lows.
"This is helping to boost demand for services and tourism, supporting employment growth and pushing up house prices as demand grows.
"State final demand was relatively upbeat at 2.3 percent in 2016. However, the higher participation rate also pushed up the unemployment rate to a peak of 7.2 percent in August before it trended down in the final months of the year.
"Plans to relocate a major university campus should boost construction activity in 2017."
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jonathanchancellor-7SQnKwU6yx

Hobart’s property market gains traction: CoreLogic-Moody's

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Corowa, Cowra and Deniliquin are the cheapest New South Wales localities to purchase a unit, according to Investar’s latest report.
The property investment firm says that units in those three localities average around $135,000.
This is followed by Jindabyne with $139,000 and Narooma with $142,000.
<table border="1" cellspacing="0" cellpadding="0"><tbody>
<tr>
<td valign="top" width="104">
Suburb
</td>
<td valign="top" width="64">
Postcode
</td>
<td valign="top" width="81">
Bedrooms
</td>
<td valign="top" width="122">
Current median price
</td>
</tr>
<tr>
<td valign="top" width="104">
Corowa
</td>
<td valign="top" width="64">
2646
</td>
<td valign="top" width="81">
2
</td>
<td valign="top" width="122">
$135,000
</td>
</tr>
<tr>
<td valign="top" width="104">
Cowra
</td>
<td valign="top" width="64">
2794
</td>
<td valign="top" width="81">
2
</td>
<td valign="top" width="122">
$135,000
</td>
</tr>
<tr>
<td valign="top" width="104">
Deniliquin
</td>
<td valign="top" width="64">
2710
</td>
<td valign="top" width="81">
2
</td>
<td valign="top" width="122">
$135,000
</td>
</tr>
<tr>
<td valign="top" width="104">
Jindabyne
</td>
<td valign="top" width="64">
2627
</td>
<td valign="top" width="81">
Studio and 1
</td>
<td valign="top" width="122">
$139,000
</td>
</tr>
<tr>
<td valign="top" width="104">
Narooma
</td>
<td valign="top" width="64">
2546
</td>
<td valign="top" width="81">
Studio and 1
</td>
<td valign="top" width="122">
$142,000
</td>
</tr>
<tr>
<td valign="top" width="104">
Leeton
</td>
<td valign="top" width="64">
2705
</td>
<td valign="top" width="81">
2
</td>
<td valign="top" width="122">
$145,000
</td>
</tr>
<tr>
<td valign="top" width="104">
Murwillumbah
</td>
<td valign="top" width="64">
2484
</td>
<td valign="top" width="81">
2
</td>
<td valign="top" width="122">
$145,000
</td>
</tr>
<tr>
<td valign="top" width="104">
Ashmont
</td>
<td valign="top" width="64">
2650
</td>
<td valign="top" width="81">
2
</td>
<td valign="top" width="122">
$150,000
</td>
</tr>
<tr>
<td valign="top" width="104">
Queanbeyan East
</td>
<td valign="top" width="64">
2620
</td>
<td valign="top" width="81">
Studio and 1
</td>
<td valign="top" width="122">
$150,000
</td>
</tr>
<tr>
<td valign="top" width="104">
Lavington
</td>
<td valign="top" width="64">
2641
</td>
<td valign="top" width="81">
2
</td>
<td valign="top" width="122">
$160,000
</td>
</tr>
</tbody></table>
A two bedroom unit at <a href="https://www.realestate.com.au/property-unit-nsw-corowa-125143070" target="_blank">2/8 Tower Street</a>, Corowa (above) has been listed for $140,000.
Similarly a two bedroom unit at <a href="https://www.realestate.com.au/property-unit-nsw-deniliquin-119861149" target="_blank">3/115 Fowler Street</a>, Deniliquin (below) has been listed for $105,000.
<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/2017/04/11/3_115%20Fowler%20Street.jpg" alt="">
</body></html>

Corowa, Cowra and Deniliquin units average at $135,000: Investar

<html><body>
Proptech startup PEXA has merged three offices and over 200 staff into a new workplace in Collins Square, Melbourne, designed by Futurespace.
Futurespace, design director Gavin Harris said the workspace is built around a central café zone which acts as the thoroughfare for both sides of the office.
“PEXA wanted to move into a space that would encourage staff to socialise and to create positive energy.," he said.
“To help support the employees, we brought in sit-stand desks, designed collaboration or scrum spaces, and created an office that facilitates people working away from their desks.
“We also implemented a range of design tactics in the office to support employees.
"These included bringing in natural materials like climbing green walls, creating exposed ceilings, lining the walls with timber, introducing texture and colour through flooring and soft furnishings."
<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/2017/04/11/image003.jpg" alt="">
Rebecca Evans, chief people and culture officer, PEXA, said so far the feedback from employees has been overwhelmingly positive.
<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/2017/04/11/image005.jpg" alt="">
“Being in such a central location, with the entire Melbourne-based team under one roof is helping to create a stronger team for our growing business,” she said.
PEXA was ranked as the fifth fastest growing tech startup in the Deloitte 2016 Technology Fast 500.
</body></html>

Growing startup PEXA merges three offices and 200 staff into new workplace

<html><body>
GUEST OBSERVER
Those who find Sydney a tad rich don’t have to go too far to find major markets with greater affordability and good growth prospects.
Newcastle has a rising economy, a strong property market and appears to be settling into a sustained period of growth.
The city, about 160km north of Sydney, presents an appealing formula for property investors: relatively affordable prices, an overall solid growth record and major impetus from economic activity in and around the city.
It has delivered steady price rises over the past three years and in the past 12 months several Newcastle suburbs have recorded double-digit median price growth. There’s more to come, I think.
Key projects keeping the Newcastle economy strong include the CBD revitalisation, residential construction, upgrades to transport infrastructure and expansion of the Newcastle port.
Newcastle is already the world’s biggest coal export port and major upgrades to export facilities occur regularly. A $1 billion upgrade to the Newcastle Airport and RAAF Base is also under way.
The airport – where the runway is shared with the RAAF Base Williamtown – is already a major employer, with around 3,000 military and civilian personnel working at the base.
Newcastle is Australia’s seventh largest city and one of its oldest. It has a busy harbour, many beaches and plenty of elegant historic buildings. Despite its reputation as an industrial city, Newcastle is ranked the sixth most visited place in Australia, attracting 9.6 million visitors per year.
It thrives as part of the Hunter Region, which is the largest economic base in NSW outside of Sydney. The Hunter region is also well known for its primary industries, notably equine breeding and winemaking. It’s also a key area for mining and power generation.
But in recent years, much of Newcastle’s employment growth has been experienced within the services sector, especially in health and the tertiary education sector.
Generally, Hotspotting regards Newcastle as one of Australia’s most under-rated markets. It has strong prospects as an affordable alternative to Sydney, offering an attractive beach lifestyle, proximity to the Hunter Valley and to Port Stephens, plus solid job prospects in a growing economy.
The impetus of the State Government’s Urban Renewal Strategy for Newcastle has become clearly evident; building activity has been rising for the past 3-4 years – especially with unit construction – as the city strives towards higher-density living to cater for population growth.
Over 100,000 new dwellings will be needed in the Lower Hunter region by 2031, according to the NSW State Government.
The affordability of Newcastle relative to Sydney is shown in the median house prices in the Mayfield suburbs ($445,000 to $484,000), Shortland ($380,000), Wallsend ($415,000) and Waratah ($500,000), as well as the median unit prices in New Lambton and Waratah (both $380,000), and Adamstown ($405,000).
There are good prospects for real estate in Newcastle, based on extensive spending on infrastructure and property developments.
Newcastle has recently been the beneficiary of investment activity, largely stimulated by the $6.55 billion State Government investment mandate covering projects such as the new light rail system on Hunter Street, the transport interchange at Wickham and construction of the Newcastle City University Campus.
A June 2016 map of Newcastle building activity showed 28 residential projects with a combined value of $1.6 billion in the construction pipeline, with more proposals in planning. Around 3,000 apartments will be added to the city’s housing stock as a result, including 1,200 in the west end.
Work on revitalising the CBD began in December 2014, with the $73 million transport interchange at Wickham expected to open late in 2017. The interchange will integrate trains, buses, taxis, light rail, cyclists and car drop-off and pick-ups, alongside a light rail service from Wickham to the beach.
The Hunter Street Mall is also receiving a serious makeover, transforming the CBD into 50 percent residential and 50 percent commercial/retail. Included in the plans are an “eat street”, an entertainment precinct and around 500 apartments.
The State Government plans to move sections of Newcastle University into the CBD to help revitalise the inner-city.
Key projections for the university over the coming decade include increasing its student numbers to 40,000, making it one of the top three regional universities in Australia.
Construction has started on the $95 million NewSpace campus, with the NSW Government contributing $25 million towards the cost. By 2020, the university expects to have moved its business, law and creative arts faculties entirely to the CBD.
All this activity is helping to keep the Newcastle economy vibrant, providing a strong underpinning to a growth property market.
Terry Ryder is the founder of <a href="https://www.hotspotting.com.au/">hotspotting.com.au</a>. You can  <a href="mailto:%20%3Cscript%20type='text/javascript'%3E%20%3C!--%20var%20prefix%20=%20'ma'%20+%20'il'%20+%20'to';%20var%20path%20=%20'hr'%20+%20'ef'%20+%20'=';%20var%20addy38821%20=%20'ryder'%20+%20'@';%20addy38821%20=%20addy38821%20+%20'hotspotting'%20+%20'.'%20+%20'com'%20+%20'.'%20+%20'au';%20document.write('%3Ca%20'%20+%20path%20+%20'/''%20+%20prefix%20+%20':'%20+%20addy38821%20+%20'/'%3E');%20document.write(addy38821);%20document.write('%3C//a%3E');%20//--%3E/n%20%3C/script%3E%3Cscript%20type='text/javascript'%3E%20%3C!--%20document.write('%3Cspan%20style=/'display:%20none;/'%3E');%20//--%3E%20%3C/script%3EThis%20email%20address%20is%20being%20protected%20from%20spambots.%20You%20need%20JavaScript%20enabled%20to%20view%20it.%20%3Cscript%20type='text/javascript'%3E%20%3C!--%20document.write('%3C/');%20document.write('span%3E');%20//--%3E%20%3C/script%3E">email him</a> or follow him on <a href="https://twitter.com/hotspotting">Twitter.</a>
</body></html>

terryryder-YECXbqmri2

Housing affordability and price growth prospects in Newcastle

<html><body>
Falling vacancies and lower incentives are promising a windfall for landlords across the country, according to Colliers International’s latest CBD Office research and forecast report.
The report projects that positive net-effective rent conditions from net face growth will continue to drive tenant demand throughout 2017 on the back of suite strategies, such as that in Chifley Tower in Sydney, and pre-commitment to new developments, such as the new ANZ building in Docklands.
Despite office investment volumes being down in Sydney and Brisbane, and plateauing in Melbourne thoughout 2016, an increase is expected in 2017, as domestic and offshore building owners trade out of their profitable assets.
“The landlord’s market is in full swing in Sydney and Melbourne,” John Marasco, Colliers International’s chief executive for Victoria, said.
“Enquiry levels are still strong, with the majority coming from business services, health and community services, IT and finance, which is resulting in a more positive environment than what has been experienced in the past few years.
“With large players, both domestic and offshore, striving to achieve access and scale, we expect more capital partnering, like what was witnessed between Charter Hall and Morgan Stanley last year for 1 Shelley Street in Sydney, and possibly more merger-and-acquisition opportunities to emerge in 2017.”
Daniel Lees, Colliers International’s research director, said that with the reduction of office supply continuing in Sydney and Melbourne, significant increases in rent and reduction on incentives would be experienced.
“We predict the low supply pipeline will see vacancy rates well below long-term averages in Sydney and Melbourne, beginning to fall in Brisbane, Adelaide and Canberra, and stabilising in Perth,” he said.
Colliers International’s mangaging director for valuations, Dwight Hillier, said the report indicated that the total internal rate of returns would strengthen throughout 2017, prompted by strong effective rental growth in the Sydney and Melbourne CBD office markets.
“Yield compression is forecast for the Sydney metropolitan office market in particular, as purchasers are forced to hunt for initial yield and total return beyond the CBD,” he said.
Sydney’s vacancy is anticipated to trend lower to 3.7% in early 2020, before rising to 5.7% by mid-2022.
“Sydney will enjoy a brief period of respite from negative net supply during the next six months as refurbishments come online.
But negative net supply will quickly return for the subsequent 18 months,” Simon Hunt, Colliers International’s managing director for office leasing, said.
“It won’t be until the first half of 2019, when withdrawals subside and the first building of the next Sydney supply cycle – 60 Martin Place – is complete, that Sydney finally starts a period of positive net supply.”
Vacancy in the Melbourne CBD is declining and will continue to do so during the next few years, with the total vacancy forecast to hit 4.3% in July 2021, due to the lack of supply.
“Melbourne’s supply levels have been far less sporadic than Sydney’s and accompanied by stable absorption,” Hunt said.
“We expect that healthy levels of demand will be sustained throughout the next two years, resulting in vacancy falling to 4.2% by the end of 2018, before the next supply cycle kicks in in 2019.”
Brisbane’s prime vacancy is also expected to continue falling during the next two years as tenants upgrade office space, enticed by incentives and competitive effective rents.
Office vacancy is likely to have peaked in Adelaide, as the construction cycle comes to an end this year and there is limited new supply in the pipeline in the short- to medium-term.
Sales activity remains strong as investors stake their claims in new builds, contributing to a volume of more than $453 million for 2016.
“This cap on new development supply and limited existing additions will help reduce the overall national vacancy from record levels to more historic 10-year averages,” Hunt said.
A-grade vacancy is also declining in Canberra, spurring effective rents to rise on the back of dwindling supplies.
Vacancy in the Perth CBD is stabilising, with major supply likely to be limited to new developments during the next two years.
Smaller tenants are most active, joining the office sector’s “flight to quality” movement to secure the best affordable stock.
The report highlights the increasing demand for suites across the country, with premium landlords carving up whole floors to cater to smaller tenants’ needs and boost effective rent values.
“We anticipate that a lack of whole floor space availability will see 2017’s leasing activity weighted to suites,” Hunt said.
While most grades across the CBD are seeing an increase in face-effective rents, the real story is in the sub-500 square metre B-grade market in fitted-out options, the report said.
Landlords are taking advantage of this demand and building new fitouts in these smaller suites or refurbishing suites with existing fitouts.
"Flexible spaces and the activation of areas for work are rapidly rising and filling the needs of tenants looking for lease flexibility," opined Hunt.
"Even though small businesses and start-ups have favoured flexible space, we should start to see larger businesses taking up more space in 2017, as the preference for flexible lease structures permeates through the market.”
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2017 tipped to be the year of the office landlord

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More than $1.5 million is tipped by Teska Carson for a modern office and warehouse property at Cremorne in Melbourne’s inner eastern suburbs.
The property will be sold by auctioned May 5.
Located at 81 Green Street, the property is situated within a sought-after precinct of Cremorne, between Adelaide and Balmain streets.
The property comprises a 245 square metre, single level, tilt slab warehouse with a mezzanine area covering 50% of the building area, and a container height roller door.
The building covers the entire 245 square metre site, which is zoned Commercial 2 under the City of Yarra planning scheme and has 10 metres street frontage.
There is also a rear laneway entry point providing pedestrian and loading bay access.
According to the marketing agent, Teska Carson’s Luke Bisset, the property is ideally suited to an investor or owner-occupier.
It was in a relatively tightly held zone with very few vacancies, Bisset said.
"Opportunities such as this, so close to the CBD and the amenity it offers, are becoming scarcer and scarcer with the gentrification and residential conversion of many inner city suburbs,’’ he said.
The property will be sold with vacant possession.
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Modern Cremorne, Melbourne warehouse listing on CBD fringe

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There has been limited sales activity within Coffs Harbour’s retail market as property within the CBD is tightly held and rarely offered, according to Herron Todd White’s (HTW) latest report.
The property valuation firm says that this is despite there being a prevailing high vacancy rate within the prime strip centre.
Many retailers are finding it difficult to meet overheads.
"There is a trend for affordable retail rental space outside prime locations, however overall vacancy rates remain high for retail space," the report said.
"The high vacancy rate in the CBD is due to the difficult local economy with limited consumer discretionary spending, the reluctance of landlords to reduce rents or meet the market and the poaching of tenants by the Central and Plaza Shopping Centres.
"There is steady demand for the purchase of retail property emanating from investors against a shortage of supply in recent times."
The Gowings Central shopping centre development and the eastern end of the CBD appears to be trading well after the upgrade transformation.
The renovated ex-CBA bank building has increased the appeal and feel of this end of the retail precinct, HTW said.
Gowings are proposing an extension to the retail centre to office and hotel accommodation.
"Retail yields are generally in the 6% to 8% range depending on tenant, lease terms, location and property detail," said the report.
"Grafton commercial retail market displays higher investment yield rates.
"Yields are generally within the 7% to 9% range.
"The market remains steady with a slight uplift in the local economy.
"Nambucca and Macksville retail centres appear steady with some vacancy but improved local economy due to the Pacific Highway relocation works and associated workforce."
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Limited sales activity in Coffs Harbour retail market: HTW

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Globally, monetary policy remains accommodative as global growth continues a below-average rate of growth, according to Savills’ latest report.
When reported, the numbers for the second half of 2016 are expected to show global growth marginally improving.
Growth in China has stabilised and the Government continues to support property markets and infrastructure spending.
GDP in the US picked up in the September quarter of 2016 whilst growth in Europe and Japan remained at modest levels.
<a href="https://www.propertyobserver.com.au/images/2017/02/21/Screen%20Shot%202017-02-21%20at%205.08.04%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/2017/02/21/Screen%20Shot%202017-02-21%20at%205.08.04%20pm.jpg" alt="">
 Whilst conditions remain supportive of consumption growth around the world, business investment remains relatively subdued.
Labour markets globally have seen substantial improvement however the quality of work the wages offered and the part-time and contractual nature of the employment growth undermines the quality of employment growth.
Substantial capacity through underemployment remains.
Consequently, headline inflation numbers remain below most central bank’s target ranges.
Inflation expectations have been little changed over the past twelve months however a late pick-up in inflation expectations following the results of the US presidential election has seen bond yields move substantially at the end of 2016.
<a href="https://www.propertyobserver.com.au/images/2017/02/21/Screen%20Shot%202017-02-21%20at%205.08.18%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/2017/02/21/Screen%20Shot%202017-02-21%20at%205.08.18%20pm.jpg" alt="">
The capital markets have been relatively strong over the six months to end of December 2016 with the S&amp;P500 finishing the six months up over 7 percent.
European bourses fared better with most indices up strongly over the six months to December 2016.
Bourses in Asia have been generally healthy over the last six months of 2016.
10 year bond yields have risen by an average of 44 basis points around the world in the past six months and average around 1.7%.
The negative rates prevalent in Japan and Germany in mid-2016 have reversed to be 0.05% and 0.21% respectively.
<a href="https://www.propertyobserver.com.au/images/2017/02/21/Screen%20Shot%202017-02-21%20at%205.08.53%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/2017/02/21/Screen%20Shot%202017-02-21%20at%205.08.53%20pm.jpg" alt="">
Most of the move in global bond yields followed the outcome of the US presidential election in early November.
The move in bond yields were associated with expectations of infrastructure spending, tax cuts, trade renegotiations and further support for economic growth.
Expectations for rising interest rates in the US firmed.
</body></html>

Hanoi tops world office market yields: Savills

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Transport and Logistics as well as pre-commitments are driving Melbourne’s industrial property market, with a shortage of serviced lots driving hikes in land values in some precincts, according to Savills.
Monica Mondkar, associate director research, Savills, said Transport &amp; Logistics accounted for 320,330 square metres or 36 percent of the 891,964 square metres leased in the 12 months to March 31.
She said the total square metres leased was down on the 970,317 square metres reported leased in the previous 12 months but remained well above the five year average of 740,010 square metres.
"Savills research also revealed a continuation of the strong pre-commitment market with the 251,270 square metres of pre-committed industrial space adding to the 316,191 square metres pre-committed in the previous corresponding period, bringing to well over half a million (567,461sqm) square metres in total pre-commitments over the last 24 months," she said.
"The trend to online sales in particular was a key factor behind continued growth in demand for warehouse and distribution centres.
"Melbourne’s industrial market has traditionally been home to a wide range of occupiers including manufacturing, engineering and wholesale sectors, however tenant demand from the transport &amp; logistics sector over the past two years has been increasing steadily and the rise in online retailing has been a key driver,’’ Ms Mondkar said.
"Household goods and housing construction were also significant industrial demand drivers in Victoria, as population growth continued to outstrip all other capitals.
Melbourne’s population growing at 2.4 per cent - the fastest in the nation – ahead of Brisbane (1.8 percent) and Greater Sydney (1. percent).
<table border="1" cellspacing="0" cellpadding="0"><tbody>
<tr>
<td valign="top" width="110">
Square metres reported leased   
</td>
<td valign="top" width="80">
Year to March 2017
</td>
<td valign="top" width="80">
Year to March 2016
  
</td>
<td valign="top" width="70">
Five year
  average
</td>
<td valign="top" width="70">
Year on Year
</td>
<td valign="top" width="70">
Five Year change
</td>
</tr>
<tr>
<td valign="top" width="110">
Melbourne
</td>
<td valign="top" width="80">
891,964
</td>
<td valign="top" width="80">
970,317                  
</td>
<td valign="top" width="70">
740,010
</td>
<td valign="top" width="70">
Down 8 %
</td>
<td valign="top" width="70">
Up 20%
</td>
</tr>
</tbody></table>
Source: Savills Australia Research
Greg Jensz, Savills’ Victorian Head of Industrial Sale &amp; Leasing said the very strong pre-commitment market was being driven by a number of factors including attractive rental deals and the lack of suitable stock.
"In some cases tenants are finding more attractive rental agreements than available with existing buildings but this has generally been negotiated over longer, circa 10 year lease arrangements," he said.
"In other cases buildings have been purpose-built to suit the peculiar requirements of tenants, for example cold storage users, which in most cases is simply not available, and generally these are larger requirements and so inflate total leasing data.
"A shortage of available serviced land had seen significant hikes in value.
"Land prices are through the roof due to a severe shortage of available serviced land.
"Small lots in the north are now going for up to $325 a square metre and lots of one hectare plus have sold for up to $250 a square metre.
"Meanwhile in the west small lots are achieving $275 a square metre and one hectare plus up to $210 a square metre.
"Embryonic growth of a new speculative industrial construction push was another factor driving land values, especially around key transport routes, however rental growth had not been a contributor.
"What speculative construction there is has, more often than not, been on land purchased some time ago at cheaper rates allowing construction to stack up for some developers at current rents."
Key industrial leases 12 Months to March 2017
<table border="1" cellspacing="0" cellpadding="0"><tbody>
<tr>
<td valign="top" width="141">
Tenant
</td>
<td valign="top" width="191">
Address
</td>
<td valign="top" width="77">
GLA sqm
</td>
<td valign="top" width="86">
Lease type
</td>
</tr>
<tr>
<td valign="top" width="141">
Seaway Logistics
</td>
<td valign="top" width="191">
11-25 Toll Drive, Altona North
</td>
<td valign="top" width="77">
16,144
</td>
<td valign="top" width="86">
Direct
</td>
</tr>
<tr>
<td valign="top" width="141">
Metro Trains
</td>
<td valign="top" width="191">
610 Heatherton Rd, Clayton South
</td>
<td valign="top" width="77">
24,065
</td>
<td valign="top" width="86">
Direct
</td>
</tr>
<tr>
<td valign="top" width="141">
Ceva Logistics (Toyota)
</td>
<td valign="top" width="191">
8 Doriemus Drive, Truganina
</td>
<td valign="top" width="77">
22,840
</td>
<td valign="top" width="86">
Direct
</td>
</tr>
<tr>
<td valign="top" width="141">
Isuzu Trucks
</td>
<td valign="bottom" width="191">
66 Foundation Rd, Truganina
</td>
<td valign="top" width="77">
21,685
</td>
<td valign="top" width="86">
Precommit
</td>
</tr>
<tr>
<td valign="top" width="141">
Anmar
</td>
<td valign="top" width="191">
14 Felstead Avenue, Sunshine West
</td>
<td valign="top" width="77">
15,720
</td>
<td valign="top" width="86">
Precommit
</td>
</tr>
<tr>
<td valign="top" width="141">
Woolworths
</td>
<td valign="top" width="191">
Portlink Estate, Dandenong
</td>
<td valign="top" width="77">
60,000
</td>
<td valign="top" width="86">
Precommit
</td>
</tr>
<tr>
<td valign="top" width="141">
Spectrum Brands
</td>
<td valign="top" width="191">
Chifley Business Park, Mentone
</td>
<td valign="top" width="77">
30,668
</td>
<td valign="top" width="86">
Precommit
</td>
</tr>
</tbody></table>
 Source: Savills Research
</body></html>

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