Toorak's dress circle St Georges Road, home to some of the city's priciest homes, is set for a rare new apartment development.

Blood Diamond Group, an entity tied to Tina Brandi, wife of David Brandi who has been a prolific bidder on The Block over the years, has filed plans for an ultra-exclusive development across an amalgamated 3,662 sqm site at <a href="https://www.apartments.com.au/new-apartments/104-106-st-georges-road-toorak-vic-3142">104 and 106 St Georges Road</a>.

The proposal would replace two existing homes on the riverfront site with a five-level apartment building cascading down the steeply sloping land toward the Yarra River. Designed by Charles Wright Architects, the development has been carefully shaped around the site’s topography and river environs, with the upper levels stepping back to reduce visual bulk from both St Georges Road and the Yarra corridor.

Planning documents describe the proposal as “a site layout and building typology that is consistent with the emerging character of the area and which provides exceptional amenity for future residents without compromising that of neighbouring properties.”&nbsp;

<img alt="First look: Blood Diamond Group unveils riverfront apartment plans for Toorak Pavilion" data-entity-type="file" data-entity-uuid="ea19a17e-7528-4fa8-b727-05f2f7c025e5" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Toorak%20pavilion%20a_0.png?VersionId=rZ2IjdoUL_UrRl1sZ4wZHnQXbYUaEmUQ" />

The scheme comprises 12 apartments, including 10 three-bedroom residences, one one-bedroom apartment, and a substantial split-level five-bedroom penthouse. A 624 sqm communal rooftop terrace will crown the building, while three undercroft levels embedded into the hillside will accommodate apartments and basement parking.

The design leverages the site’s dramatic northern outlook across the Yarra River, with living areas and balconies oriented toward the water. A central atrium running the full height of the building is intended to draw natural light deep into the residences and improve internal amenity.

Landscape architecture by <a href="https://www.apartments.com.au/landscape-architect/jack-merlo">Jack Merlo Design &amp; Landscape</a> will play a major role in softening the built form, particularly along the river edge where significant setbacks have been introduced. The proposal includes a minimum 30-metre setback from the Yarra River boundary, preserving a substantial landscaped buffer between the development and the waterway.

While a mature English Oak near the front of the site is proposed for removal, the plans retain a large English Elm closer to the riverfront, alongside other established vegetation in the lower section of the property.

<img alt="First look: Blood Diamond Group unveils riverfront apartment plans for Toorak Pavilion" data-entity-type="file" data-entity-uuid="ed3bf19b-5bc7-482f-bde7-41f709a13c3a" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Toorak%20pavilion%20b.png?VersionId=SG_kBGu4rOaSPY8FtVcmPJfSCrstuOfg" />

Architecturally, the building adopts strong horizontal forms with expansive glazing and curved balcony edges facing the river. Planning documents note the upper levels “adopt a receding form” to ensure the building responds appropriately to the Yarra River environs overlay controls.&nbsp;

The surrounding streetscape is characterised by large contemporary homes embedded into the hillside, many presenting as modest one or two-storey forms to the street before expanding toward the river frontage below. The planning report notes this established pattern heavily influenced the massing strategy for Toorak Pavilion.&nbsp;

Until the recent sale of the landmark Clendon Road mansion Coonac for around $130 million, St Georges Road held the state's most expensive home, the $80,000,088 derelict "Ghost House" mansion that was bought by crypto king Ed Craven.&nbsp;

Blair House, also on St Georges Road, sold for $74.5 million in 2022.

Joel Robinson

First look: Toorak Pavilions slated for dress circle St Georges Road

Six months after a development site on Kangaroo Point’s Shafston Avenue sold for $6.55 million, plans have been lodged for a 23-storey apartment tower.

A company named JMT Mega Capital, understood to be interstate investors when the 1,222 sqm double block traded late last year through Patona Property, is proposing an 84-apartment development in place of the existing low-rise buildings.

The slender tower at <a href="https://www.apartments.com.au/new-apartments/212-220-shafston-avenue-east-brisbane-qld-4169">212–220 Shafston Avenue</a>, overlooking the Brisbane River, has been designed by <a href="https://www.apartments.com.au/architects/aplus-design-group">Aplus Design Group</a>. It will comprise a mix of one-, two- and three-bedroom apartments above six basement levels, topped by rooftop resident amenities.

<img alt="First look: 23-storey Kangaroo Point tower planned for Shafston Avenue riverfront precinct" data-entity-type="file" data-entity-uuid="7e17ba9e-553e-42ef-92b6-22081671521a" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/podium_3.png?VersionId=hlVUf99vrOjUs.vhQs0qV0DhOncUy9T8" />

The development has been designed as a vertically articulated tower with recessed balconies, curved façades and planted edges intended to soften its scale within the evolving Shafston Avenue skyline. In the submitted Urban Design Report, Aplus Design Group said the tower had been “shaped with a slender vertical expression, articulated façades, recessed balcony zones, integrated planting and a clearly defined podium relationship, helping to reduce perceived bulk and create a more elegant contribution to the Shafston Avenue streetscape and broader Kangaroo Point skyline.”

The scheme comprises 84 apartments, including 25 one-bedroom units, 34 two-bedroom apartments and 25 three-bedroom residences. A total of 104 car spaces are proposed across six basement levels, including resident, visitor and accessible parking.

Residents will have access to rooftop communal open space and shared amenities, while the development also incorporates deep planting zones and subtropical landscaping throughout the podium and tower levels. The project includes 35 per cent communal space coverage across the site and a 17.5 per cent deep soil zone allocation to support urban greening outcomes.

The application exceeds the mapped building height under the Kangaroo Point Peninsula Neighbourhood Plan and is being assessed under Brisbane City Council’s impact assessment pathway. The design team argues the additional height is supported by the site’s strategic inner-city location, existing high-density zoning, and proximity to transport and employment hubs.

“The design has been developed to make better use of a well-serviced urban site within an established high-density residential setting, while improving the street presentation and overall quality of the public realm interface,” the report states.

<img alt="First look: 23-storey Kangaroo Point tower planned for Shafston Avenue riverfront precinct" data-entity-type="file" data-entity-uuid="1ab44b1e-ff45-4bf3-8da8-8aa0cd79db33" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/site_10.png?VersionId=tSxeGekZOqj1e9g3PEn_yFoC3taKDp3U" />

The proposal adds to a growing pipeline of apartment developments reshaping Kangaroo Point ahead of the 2032 Brisbane Olympic Games, with demand continuing to strengthen for new housing supply in well-connected inner-city precincts.

Mosaic has nearly sold out its under-construction <a href="https://www.apartments.com.au/new-apartments/the-bedford-by-mosaic-16-30-prospect-street-kangaroo-point-qld-4169">The Bedford by Mosaic</a>&nbsp;and <a href="https://www.apartments.com.au/new-apartments/the-carter-by-mosaic-77-linton-street-kangaroo-point-qld-4169">The Carter</a>,&nbsp;while Pikos recently completed <a href="https://www.apartments.com.au/buildings/skye-residences-by-pikos-kangaroo-point-8-river-terrace-kangaroo-point-qld-4169">Skye Residences</a> nearby. Pikos is also delivering <a href="https://www.apartments.com.au/new-apartments/gaia-kangaroo-point-108-lambert-street-kangaroo-point-qld-4169">Gaia</a>, over 230 three- and four-bedroom apartments on Lambert Street.

First look: 23-storey Kangaroo Point apartment tower planned for Shafston Avenue riverfront precinct

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.

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

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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Real estate offices and real estate agents will diminish by 20 percent-30 percent in the next year.
With property (for-sale) listings, so low and a phenomenon never experienced before in parts of Sydney; how can real estate agencies survive? 
For a large number of Real Estate Offices (REOs), sale of property commissions, makes up to 60 percent-80 percent of their revenue. Some rely purely on sales commission, to keep their doors open for business.
After recently, reading numerous articles and LinkedIn discussions about low property numbers that are on the market for sale I began to reflect on discussions I held as far back as 12-15 months ago with industry colleagues.
At the time I made the following prediction, and that it would eventuate by end of financial year 2016. 
<ul>
<li>We will see at least 20 percent of REOs close down.</li>
<li>These will be made up of REOs that rely on pure sales to keep their doors open.</li>
</ul>
One brand I have been particularly observant of is McGrath Real Estate. This brand even listed on the ASX and mostly due to its success accredited to: reported high sales figures. How will they cope in a changing landscape where sales become scarce?
The crux of the discussions with colleagues, were in relation to the shrinking property market, due to various market forces:
1)     Property-Marketing companies on the one hand ramping up sales of property; and
2)     The financial institutions on the other, also selling real estate.
Both sectors moving into the real estate sales due to high commissions, paid out directly by developers. I can say, even in the good times, the average real estate selling agent missed out on listings. Most listing of new developed property went, has gone to and is still going to property-marketers. The local Real Estate Agents miss out.
Property that is new to the market, where commissions can be inflated, became attractive for “direct sales campaigns” to unsuspected investors. In essence, the typical local real estate office has lost 30-40% of sales due to “marketeers and the financial sector invasion.”
Now, add to the invasion of our industry, the current low numbers in secondary stock sales as evidenced in article/photo below. Also as reported across the media and journals.
I refer to historical low number of sales listings in Sydney. 
These are established properties that have almost disappeared overnight. Parramatta alone has had an attrition of up to 47 percent less property on market. These figures were calculated across June-to-August. The number of agents has not changed however.
Parramatta, has 176 registered real estate offices according to the Yellow Pages. According to Domain, there are 172. Either way, it is a concern that should not be taken lightly. Specially when we can safely say that there are 2.5 selling real estate agents in each office.
A concerning trend also witnessed across the face of Sydney metropolitan area.
Some agents are commenting on a 30 percent drop in numbers across the Lower North Shore and other areas. These numbers are generated by comments on LinkedIn, made by agents that have worked in these areas for 10-20 years.  
Only last week, I sat with a colleague from Blackktown and she informed me and was troubled by the fact that her office only had two properties for sale. She doesn’t have a small operation, and runs a well-established brand.
In the same area, other brand-name agencies have reduced their local paper advertising from 3 pages down to half a page. They just don’t have any property listings for-sale in their books. What they do have is 5 selling agents in their office.
Notably, the above becomes the recipe or the ideal conditions for an attrition of selling agents and very tangibly, offices that only rely on sales to survive.
It will be a hard fall for many, and for others that place a lot of trust in property-sales-offices. Another call, another prediction; all in a day as I share my thoughts over a coffee with friends.  
Warning to the industry
Keep an eye on other Industry-Disruptors such as Purplebricks RE. Don’t underestimate what they are doing and focus on how you can best serve the diminishing clientele base you have. That is, if you want to survive the for-sale listing famine.
If you want to stand out from the many agencies in your patch; do something different. Offer a level of service that others will find hard to match. Again, only if you want to stay in the industry past EFY 2016 and not be a casualty of the changing face of real estate.
EDWIN ALMEIDA is licensee in charge of <a href="https://www.just-think.com.au/" target="_blank">Just Think Real Estate</a>.<a href="https://www.just-thin.com.au/"> </a>
He is also the creator of <a href="https://www.youtube.com/user/JustThinkProperty" target="_blank">Oz Real Estate.TV</a> and a presenter for <a href="https://propertyinvestingvault.com/" target="_blank">propertyinvestingvault.com</a>.
 
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ealmedia-arK4DBYLjS

Real Estate offices closing down in Sydney

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The latest office market briefing for Parramatta from Savills notes the market will see an increase in supply over the medium-term as various office buildings currently being constructed are completed.
According to the report, Savills is currently tracking approximately 220,000 square metres of commercial development within the Parramatta market, especially Parramatta square.
"Rousing commercial development activity is Parramatta Square; a three-hectare precinct right in the heart of Parramatta’s CBD. Parramatta Square can transform the city with a new civic heart. The project is expected to add approximately 171,000 square metres of prime office space across four buildings which will house up to 13,000 jobs upon completion," it said.
"The first building to be delivered within the Parramatta Square development, is One Parramatta Square (1PSQ), currently under construction and reaching its highest point in June 2016. 
"1PSQ comprises 26,500 square metres of commercial A Grade space, over 14 levels with ground floor retail. The commercial component has been fully pre-committed by Western Sydney University, to accommodate their new multi-level campus. 
"The asset is held in two separate Charter Hall managed funds, Core Plus Office Fund (CPOF) and Direct Office Fund (DOF). Completion is expected in the last quarter of 2016."
<a href="/images/2016/09/13/Screen%20Shot%202016-09-13%20at%203.58.13%20PM.png" target="_blank">Click to enlarge</a>
<img src="/images/2016/09/13/Screen%20Shot%202016-09-13%20at%203.58.13%20PM.png" alt="">
 
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jonathanchancellor-7SQnKwU6yx

Parramatta office construction shores up supply 

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A Melbourne developer has paid $2 million for a Prahran industrial property through Teska Carson.
The property, 11-13 Regent Street, sold on a yield of 1.6 percent. 
The property features a single-level, 210 square metre office/warehouse building on a 245 square metre site with 14 metres street frontage. It was sold subject to a short term lease at a current rental of $32,096 per annum net.
Four bidders from a crowd of around sixty pushed the price to $550,000 above the reserve and to a land rate of $9000 a square metre. 
George Takis from Teska Carson said Prahran has fast become one of Melbourne’s most desirable inner city locations attracting numerous commercial and residential developments and that has been largely driven by its location.
"Add location to the Commercial 1 zoning, which opened up a plethora of new options for the purchaser, obviously including redevelopment, and you have a property that appealed to a lot of buyers,’’ he said.
 
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Prahran industrial sells on yield of 1.6 percent

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A premium-grade office tower at 171 Collins Street in Melbourne’s CBD has got a 6 Star NABERS energy rating, making it the first commercial building in Victoria to achieve the grade.
It is also one of three commercial office buildings in Australia to get the rating without green power or renewable energy back up (such as solar, wind, or geo-thermal), said a media release.
The property – developed and owned by Cbus Property and Charter Hall – is managed by Knight Frank’s Asset Management Services team. 
It comprises an 18-level office called the Tower building, plus seven levels of PCA A-grade boutique offices within the Mayfair building. 171 Collins Street features an atrium, a high-end ground-floor lobby, along with retail tenancies to Collins Street; subterranean retail tenancies to Flinders Lane; and basement car parking. 
According to Knight Frank’s Nick Mavropsi, head of sustainability, Asset Management Services, Australia, the 33,136 square metre property was designed for a 5 Star NABERS energy rating.
“The property achieved its design at 18 months after practical completion, with only 65 per cent occupancy. The challenge was to try and improve the 5 Star NABERS energy rating to possibly 5.5 or 6 stars, while maintaining premium environmental conditions to all tenants and complying with all lease commitments,” said Mavropsi. 
<img src="/images/2016/09/12/171CollinsSt2.jpg" alt="">
Leader of the on-ground team in charge of the works, Knight Frank’s senior Facilities and Engineering Manager, Harshana Wijewardane, said, “Fine-tuning all of the services was crucial to maximise the efficiency of the installed plant and equipment, including the utilisation of the smart tools available. These include highly-refined EMS, under floor air distributed system (UFD), access control high level integration and the co-generation system.”
“These initiatives resulted in 171 Collins Street becoming one of just a handful of commercial office buildings to achieve a 6 Star NABERS energy rating without green power,” said Wijewardane. 
Knight Frank’s Managing Director, Asset Management Services, Australia Aaron McGhee said the company wants to replicate its success nationally to all buildings it manages.
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171 Collins Street office achieves 6 Star NABERS energy rating

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No capital city or regional city in Australia can claim to be at the peak of market cycle in valuation firm Herron Todd White's property clock for September 2016, but a number of them are rising markets.
The clock is a simple broad brush means to suggest where property markets are and what direction prices are moving in.
The closest to peak of the market is the NSW's Newcastle, which is approaching the peak of the market, according to the clock.
Among the capital cities, Sydney and Melbourne remain at the rising market position, while Canberra is at the start of a recovery cycle.
Adelaide and Hobart remain at the bottom of the market, while Brisbane and Perth are approaching the bottom. Darwin is just starting to decline.  
<a href="/images/2016/09/09/Screen%20Shot%202016-09-10%20at%2010.55.30%20AM.png" target="_blank"> Click to enlarge</a>
<img src="/images/2016/09/09/Screen%20Shot%202016-09-10%20at%2010.55.30%20AM.png" alt="">
 
HTW has also put together an overview of office market indicators, as evidenced in the following table: 
<a href="/images/2016/09/09/Officemarketindicators.png" target="_blank">Click to enlarge</a>
<img src="/images/2016/09/09/Officemarketindicators.png" alt=""> 
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No office markets at peak, but plenty are rising: HTW office property clock

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Increasing capital flows into Australia's major office markets in 2016 has resulted in competition for quality assets heating up, with property experts predicting continued yield compression and rising sales volumes in the second half of the year.
Competition for prime metropolitan office investments in the eastern seaboard markets of Sydney, Melbourne and Brisbane is rising among large offshore investors, according to Colliers International research.
The biggest jump in metropolitan office investment volumes to date in 2016 has been recorded in New South Wales, with $2.3 billion of sales recorded in Sydney’s metropolitan market year-to-date compared to $1.8 billion in the Sydney CBD. 
“Whilst there is still healthy investor appetite for CBD assets with four months to run in the calendar year, the narrowing gap between CBD and metro investor volumes points to increasing attention being paid to non-CBD office assets,” said John Marasco, Colliers International managing director of Capital Markets &amp; Investment Services.
“Analysis of sales volumes in Sydney, Melbourne and Brisbane, when comparing metro office to CBD office markets, sees investment levels weighted towards CBD markets. However, as CBD office yields have compressed sharply, capital has begun to shift to metropolitan office investment in 2016.
“The focus and competition for prime office grades is moving into the metro markets. The recent tussle for control of GPT’s metropolitan office fund, which contained seven A Grade fully leased assets, is a sign of the sentiment to come for securely leased, high quality metropolitan assets, which is likely to lead to a further sharpening of yields.”
<a href="/images/2016/09/12/OfficepropFundamentals.png" target="_blank">Click to enlarge</a>
<img src="/images/2016/09/12/OfficepropFundamentals.png" alt="">
 Luke Dixon, Colliers International director of Research, said the combination of lower vacancy, falling supply and higher total returns would typically correspond with a similar fall in initial yields and tight pricing. However, in the case of A Grade metropolitan office, yields had remained firmly higher relative to their CBD counterparts and compressed at a slower rate over the past three years. 
“CBD A Grade yields have compressed by over 120 basis points across the east coast, whereas east coast metropolitan A Grade yields only compressed by 60 basis points,” he said. 
“A significant factor in the strong performance of A Grade CBD yields has been the volume of domestic and offshore capital pursuing opportunities. 
“Enquiry volumes for investment sales of CBD assets, is almost double that seen in metropolitan sales campaigns. This weight of capital can in part can be explained by the volume of stock available between the two markets. 
“A Grade office in the Sydney, Melbourne and Brisbane accounts for a total of 11.7 million square meters versus 6 million square meters in their metropolitan counterparts, reducing the available pool of assets for investors.
<a href="/images/2016/09/12/MetrovsCBD.png" target="_blank">Click to enlarge</a>
 <img src="/images/2016/09/12/MetrovsCBD.png" alt="">
“CBD ownership is highly concentrated amongst institutional owners, with over 50% of Premium and A Grade CBD stock owned by longer term investors such as super funds, REITs and wholesale funds. Metropolitan markets are more diverse in their ownership, with higher numbers of private investors who may be more motivated to sell as investor demand for high quality metropolitan office assets increases”.
“However, the sharp compression of CBD office yields has seen capital begin to shift to metropolitan office in 2016.”
A comparison of offshore and domestic transactions in these key metropolitan office markets points to momentum tipping back towards offshore investors in 2016. Significant metropolitan transactions year to date have been led by offshore investors such as Deutsche Bank, Ascendas and Blackrock.
“Total investment volumes are still heavily skewed towards domestic investors, with local knowledge and teams on the ground giving them a strategic edge on offshore competitors,” Marasco said. “However, with the increasing maturity of Asia Pacific and European investors in the Australian market we anticipate rising levels of offshore interest in the medium term.”
“Yield spreads will prove too attractive, and metropolitan spreads relative to CBD spreads will narrow under the weight of increasing investment.
“Based on the rising volume of investment sales in metropolitan office markets, and strong fundamentals supporting rental growth and valuation uplift, we anticipate strong investor activity in the metropolitan office market resulting in capital rates across these markets compressing sharply over the next 12 to 18 months.”
<a href="/images/2016/09/12/MetrovsCBDoutlook.png" target="_blank">Click to enlarge</a>
 <img src="/images/2016/09/12/MetrovsCBDoutlook.png" alt="">
Competitive acquisition conditions in major eastern seaboard markets are already being seen. The recent tussle for control of GPT’s metropolitan office fund, which contained seven A Grade fully leased assets, is a sign of the sentiment to come for securely leased, high quality metropolitan assets. 
According to Colliers International’s new H2 2016 Metro Office Research &amp; Forecast Report, rental growth has been seen in most major metropolitan office markets this year, with demand for space generally improving, resulting in decreased vacancy.
The report found residential conversion remained a key issue in most markets, in particular those markets which were not protected with a commercial zonings.
Residential conversion-driven withdrawal is shrinking the pool of available metropolitan assets,” Dixon said.
 
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Office markets on the eastern seaboard heat up on investment inflows 

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<img src="https://counter.theconversation.edu.au/content/64734/count.gif" alt="The Conversation" width="1" height="1">
GUST OBSERVER
If we all work side by side in an open-plan office or “hot desk”, moving from place to place, it’s sure to increase collaboration!
It turns out that may be wrong. If you don’t have your own space, perhaps you are better off working remotely with your cat for company.
Our research found that in shared working spaces there were increases in “employee social liabilities”; distractions, uncooperativeness, distrust and negative relationships. More surprisingly, both co-worker friendships and perceptions of supervisor support actually worsened.
Although prior researchers have claimed shared work spaces can improve social support, communication and cooperation, our results indicated that co-worker friendships are of the lowest quality in hot-desking and open-plan arrangements, when compared to those with their own offices or who share offices with just one or two others.
They are significantly worse when compared to those who mainly work at home or on the road. It is possible that these shared offices may increase employees’ use of coping strategies such as withdrawal and create a less friendly environment in a team.
As part of our research we surveyed 1,000 working Australians. We asked them whether they shared their office space with others, what sort of co-worker friendships and supervisor support they had, in addition to any negative relationships (such as lack of cooperation or distrust).
Shared environments did not improve co-worker friendships and, in addition, were associated with perceptions of less supportive supervision. The finding may be because employees who receive either too much monitoring or only informal supervision, perceive their supervision to be of lower quality than those who have dedicated supervision meetings.
It could also be that, as employees become more irritated, suspicious and withdrawn in a shared workplace, their relationships with their supervisors and colleagues deteriorate.
Other research also supports the idea that the benefits associated with shared spaces are aren’t all they are cracked up to be. Instead, it showed that cooperation became less pleasant and information flow did not change in a shared office space.
This is not great news for employees in an age where shared space and hot-desking is increasing alongside the use of mobile technology like laptops, smartphones and tablets. This, together with the high cost of office space, has brought about a desire to use physical office space more flexibly.
So, if this trend towards shared space is not likely to be reversed, how do employees survive?
Surviving a shared office space
If you can have your own office, share with just one or two others, or work from home, these are the best situations for workers we studied. However, we’re not all that lucky.
One way to combat visual distractions from nearby co-workers can be to use panels, book shelves, or “green walls” of plants. Noise from the office can be cancelled out with headphones.
However, these interventions will depend on whether they are suited to your job, workplace or your fellow employees. One option can be to create a mix.
Researchers Pitt and Bennett describe a large office redesigned to include not only hot-desking, but also “touchdown areas” (free desks to allow quick access to information), “bookable offices” (rooms that can be booked in advance), “collaborative workspaces” (for group work, possibly with teleconferencing capabilities) and finally “break-out workspaces” (relaxed couches and low tables for spontaneous, informal collaborative work).
We are not suggesting workers should be afforded unlimited privacy and solitude. Some spontaneous interaction is needed for many types of activity-based work to succeed. Too much and the distractions will outweigh any potential collaborative benefits. Too little and the benefits are not evident.
Rachel Morrison is senior lecturer, Business School, Auckland University of Technology and author for The Conversation. She can be contacted <a href="https://theconversation.com/profiles/rachel-morrison-296325" target="_blank">here</a>.
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jchancellor-FAypfDUnLy

Get out of my face! We're more antisocial in a shared office space

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An office building in Queensland’s Logan City with major tenant as the city council has sold for $3.85 million.
‘The Exchange’ at 106 City Road, Beenleigh was put up for sale via expressions of interest earlier this year. 
The deal was brokered by Tania Moore and Mark Witheriff of Knight Frank along with RM Realty.  
The seven-level office building is a “landmark asset” in the Beenleigh CBD, according to the property’s description.
Located on the eastern side of City Road, it is a short freeway-drive to Brisbane or the Gold Coast. 
The building has a net passing income $290,136 pa. 
The net lettable area is 1,695 sqm.
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prateek24-ezbwHMbNAk

Building leased to council in Queensland's Logan City fetches $3.85 million

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A largely tenanted office building in the Gold Coast suburb of Bundall recently sold for $4.8 million.
The office at 91 Upton Street has a good mix of tenants on various leases, according to the property’s description.
The freehold property, which is leased almost 90 percent, earns a net income of $338,742.41 p.a. plus GST and has the potential to earn $392,742.41* p.a once fully let out.
The building has a net lettable area of 1,555 sqm and was recently upgraded.
The selling agent was Michael Willems of Ray White Commercial.
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Tenanted office building in Gold Coast snapped up for $4.8 million 

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One of Sydney’s oldest hotels, Cremorne Point Manor, has just undergone a full makeover for about $1 million, combining modernity with heritage.
The upgrade was the first for the <a href="https://www.cremornepointmanor.com.au/" target="_blank">four-star hotel</a> in more than a decade. The full décor sweep includes all 29 bedrooms, bathroom and communal guest area. 
Hospitality entrepreneur Jean Claude Branch incorporated quality bedding, interiors and accents in each room and common rooms while maintaining affordable nightly rates. 
Jean-Claude has a carved a niche for himself in restoring heritage buildings which include Dalziel Lodge and Glenferrie Lodge.
<img src="/images/2016/09/13/CPM%20King%20Suite1.jpg" alt="">
As the hotel is a heritage building, Jean Claude commissioned Aboriginal artist Winston Walford to create artwork, reproduced into handmade mosaic tiles. 
The tiles are 6 meters long and 2.7 meter high. There are approximately 65,000 hand-laid tiles: 6 meters long x 2.7 meters high with nearly 65,000 x 2 cm hand laid tiles.
Winston also utilised his signature right thumbprint image to form glass mosaic tiles. The tiles faithfully replicated the original artwork as painstakingly hand laid in Huizhou, China. The process took three artisans eight weeks to complete, working full time to perfect the installation in the main guest dining room.
“The renovation, while not absolutely required, was part of our ongoing need to provide the best possible guest experience,” said Jean-Claude. 
 <img src="/images/2016/09/13/CPMArtwork2.jpg" alt="">
<img src="/images/2016/09/13/CPM%20Artwork1.jpg" alt=""> 
“Including Aboriginal art through my long term China business connections, we believe this is the first instance of a local Aboriginal artists installation being commissioned into unique center pieces.” 
He said the refurbishment compliments Winston’s heritage piece and marries modern design approach with historic art.
Rex Winston Walford belongs to the Gamilaroi language group and resides on the North Coast. He has won awards and accolades for his work, including being a finalist on multiple occasions in the Parliament of NSW Aboriginal Art Prize, commended in 2010.
 
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