<a href="https://www.apartments.com.au/developers/s-p-setia">SP Setia</a> has lodged plans for a $750 million, three-tower mixed-use precinct that would complete the long-running redevelopment of Carlton's former Carlton United Breweries site.

The proposal at <a href="https://www.apartments.com.au/new-apartments/185-195-queensberry-street-carlton-vic-3053">46-78 Bouverie Street and 185-195 Queensberry Street</a> spans a 6,468 sqm site, the last remaining undeveloped parcels within the former brewery's 2007 masterplan.

Designed by <a href="https://www.apartments.com.au/architects/cox-architecture">COX Architecture</a>, the development will comprise two purpose-built student accommodation towers and a third build-to-sell apartment tower above a shared commercial podium and basement.

Across the three towers, SP Setia is proposing 606 build-to-sell apartments and 1,499 student accommodation units containing 2,009 beds.

The apartments will sit in the tallest tower, which will rise nearly 200m and 55 storeys. It will become&nbsp;one of the more substantial new build-to-sell apartment projects at the northern edge of Melbourne's CBD.

The apartment mix is weighted toward smaller inner-city product, with 188 studios, 206 one-bedroom apartments, 192 two-bedroom apartments and 20 three-bedroom apartments

<img alt="First look: SP Setia plans three-tower finale for Carlton’s former CUB precinct" data-entity-type="file" data-entity-uuid="8271bc87-1b0a-41b7-ac73-a425ee375261" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/3_2.png?VersionId=G4lw23o90B1boX4k4dj7rdz2ZEajS9wy" />

Part of the precinct will be a large-scale&nbsp;3,684 sqm supermarket and a further 2,198 sqm of speciality retail, creating close to 5,900 sqm of new commercial space within the precinct.

But one of the biggest components of the proposal is what sits between the buildings.

Around 4,650 sqm, or roughly 72 per cent of the site, will be publicly accessible open space, incorporating plazas, pedestrian connections, landscaped laneways and retail spill-out areas.

The ground plane is intended to finally complete pedestrian connections envisaged when the CUB masterplan was first approved nearly two decades ago, stitching together Victoria Street, Queensberry Street, Bouverie Street and Swanston Street through the former brewery precinct.

Urbis said the development would "complete the CUB precinct", with the public realm providing important north-south and east-west connections through what is currently the final undeveloped portion of the masterplanned site.

SP Setia is also exploring a new linear park within the Bouverie Street road reserve, with the concept to be developed further with the City of Melbourne through the planning process.

The proposal is being pursued through the Victorian Government's Development Facilitation Program under Clause 53.23 for significant residential development with affordable housing.

The planning report acknowledges the proposed heights exceed those contemplated under the original Comprehensive Development Plan and masterplan, but argues the built-form context has changed considerably over the past two decades.

Urbis said the three towers would instead create a stepped transition between Carlton and the Hoddle Grid, rising progressively from the 94.1-metre Tower One along the Queensberry Street edge to the 199.44-metre Tower Three closer to the established CBD-scale buildings to the south.

<img alt="SP Setia" data-entity-type="file" data-entity-uuid="e885a07a-592c-40fc-bf82-e6dbaf32da54" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-21%20at%208.52.24%E2%80%AFAM.png?VersionId=7s_ErUkSKAdY1mAWp3GRZgMNCGtwhk5m" />

SP Setia plans to deliver the development across three stages.

Stage One would deliver the basement, podium and retail areas for the entire precinct alongside the first student tower. Tower Two would follow in Stage Two, before the 606-apartment Tower Three is delivered as the final stage.

If approved and delivered, the project would close out a redevelopment process that has been underway since the former brewery masterplan was approved in 2007, adding more than 2,600 student beds and apartments to a precinct already home to Swanston Central, the Barak Building, RMIT Design Hub and several large student accommodation developments.

&nbsp;

&nbsp;

Joel Robinson

SP Setia plans three-tower finale for Carlton’s former CUB precinct

Melbourne developer Lowe Living is seeking to add to its growing bayside apartment pipeline, filing plans for a boutique eight-residence development in tightly held Middle Park.

Lowe Living, which has built much of its development portfolio across Melbourne's affluent bayside and south-east suburbs, is behind the plans for the 730 sqm site at <a href="https://www.apartments.com.au/new-apartments/123-125-erskine-street-middle-park-vic-3206">123-125 Erskine Street</a>, just off Armstrong Street and within the Armstrong Street Neighbourhood Activity Centre.

The developer is seeking approval for a five-storey residential building above two basement levels, with just eight large-format apartments and 18 car spaces.

“This is a deliberately very different proposition for us,"&nbsp;Tim Lowe, Co-Founder of Lowe Living, said.

"Eight residences is exceptionally boutique, but that's precisely what this site calls for.

“There is a strong community in Middle Park and the surrounding suburbs who have spent decades building a life here. They no longer want the maintenance of a large period home, but they aren't prepared to compromise on space, quality or location. We think there is a real opportunity to capture that hyper local market. A site like this rarely comes to market.”

<img alt="Lowe " data-entity-type="file" data-entity-uuid="875fe572-0f14-4d90-9e11-55b28dd07731" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-21%20at%208.42.49%E2%80%AFAM.png?VersionId=GDNQRv9BfpR9r1zkZ5UDyUM4ZvpIksut" />

The low-density proposal has been designed by Cera Stribley and is being progressed through the Victorian Government's Great Design Fast Track pathway, having already secured eligibility from the Minister for Planning.

The Office of the Victorian Government Architect supported its eligibility after finding the proposal demonstrated consistency with the program's seven design principles, while the project's financial feasibility has also been independently confirmed by Invest Victoria.

The project is targeting the downsizer market, with the planning documents describing the homes as larger-format residences and noting the two penthouses could otherwise have been configured as four separate apartments.

<img alt="Lowe 2" data-entity-type="file" data-entity-uuid="60ab0987-2da6-4175-adac-315dcf6053c6" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-21%20at%208.43.15%E2%80%AFAM.png?VersionId=bOCPH0B2MFwlmaRW.TTCF9TzyifgVoQI" />

The site has dual frontage to Erskine Street and Canterbury Place and currently comprises a collection of commercial buildings used as offices, including a former heritage bakehouse, a former stable, a later gabled addition and a central courtyard.

It sits within the Commercial 1 Zone and the Armstrong Street Commercial Precinct heritage overlay, with the existing property classified as a contributory heritage place.

Heritage has subsequently played a significant role in Cera Stribley's design.

The front section of the former bakehouse facing Erskine Street will be retained, including its return walls, street-facing hipped roof and chimneys, while the Erskine Street façade and part of the western return wall of the former stable will also be incorporated into the new development.

Levels four and five will be set back five metres from the retained stable façade, while bricks removed through demolition are proposed to be salvaged and reused within the new building where possible.

<img alt="Lowe 3" data-entity-type="file" data-entity-uuid="e97927a9-a2de-4a0f-83b6-65451238abfa" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-21%20at%208.43.06%E2%80%AFAM.png?VersionId=VR44AChLrX9q1XPB9GvVQV.ALXXbe4gC" />

Rather than presenting as a single five-storey building to Erskine Street, Cera Stribley has broken the development into a series of distinct forms.

A three-storey infill element will sit between the retained bakehouse and stable façades, with the upper levels recessed behind the heritage fabric. Canterbury Place will similarly feature two three-storey podium forms, separated by a central pedestrian accessway, before the upper two levels step back from the street.

A pedestrian through-link will run through the centre of the project between Erskine Street and Canterbury Place, creating entrances from both sides of the site and introducing landscaping and communal areas through the ground plane.

Landscape architect Acre has designed planting across the ground level, private terraces and upper levels, including a feature canopy tree at level three and integrated planting and arbours across the level four terraces. Five existing Erskine Street trees are proposed to be retained.

Sustainability is also a significant component of the Great Design Fast Track application. The apartments are targeting an average eight-star NatHERS rating, with no residence below 6.5 stars, while the project has achieved a 75 per cent BESS score. Seven of the eight apartments are designed for cross-ventilation, with the remaining residence using mechanically assisted natural ventilation.

The plans also incorporate an 8kWp rooftop solar system, a 5,000-litre rainwater tank and infrastructure allowing future electric vehicle charging for every residence.

Lowe has a strong portfolio across Melbourne's blue-chip suburbs. They recently launched <a href="https://www.apartments.com.au/new-apartments/jardin-house-by-lowe-living-camberwell-335-camberwell-road-camberwell-vic-3124">Jardin House by Lowe Living</a> in Camberwell, their first development in the Stonnington LGA.

Lowe Living unveils Middle Park apartment development

Article summary

<ul data-end="888" data-start="289">
	<li data-end="442" data-section-id="8tsh6o" data-start="289">DVB Projects is preparing to launch its second Gold Coast apartment development, with demolition now underway at 137 Old Burleigh Road, Broadbeach.</li>
	<li data-end="573" data-section-id="1nyxl3e" data-start="443">The 34-level tower will comprise just 49 ultra-luxury residences, including half-floor, full-floor and penthouse apartments.</li>
	<li data-end="717" data-section-id="oiyimj" data-start="574">The launch follows strong demand at DVB's nearby Sea Glass project, which is more than 50 per cent sold and currently under construction.</li>
	<li data-end="888" data-section-id="epk9o9" data-start="718">The development adds to the transformation of Old Burleigh Road, with premium beachfront apartment projects continuing to reshape the tightly held Broadbeach strip.</li>
</ul>

<a href="https://www.apartments.com.au/developers/dvb-projects">DVB Projects</a> is preparing to launch its second Gold Coast apartment development, with demolition now underway on the Broadbeach site as the Sydney developer moves closer to bringing the ultra-luxury project to market.

The 34-level tower at <a href="https://www.apartments.com.au/new-apartments/137-old-burleigh-road-broadbeach-qld-4218">137 Old Burleigh Road</a> will comprise just 49 residences, ranging from half-floor apartments through to full-floor homes and a penthouse. The launch follows the strong sales performance of DVB's nearby Sea Glass development. More than half of the apartments at Sea Glass, on the other side of Broadbeach, have been snapped up, well ahead of its late 2027 completion

<img alt="DVB Projects to commence demolition on $320m Broadbeach luxury tower" data-entity-type="file" data-entity-uuid="2944b4be-c84e-4b54-8dc1-c712e76704c0" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/E02_Exterior_Street%20Level%20Entrance.jpg?VersionId=YoNig7pRdrE3HCue7sUj78LzJteeQf3H" />

The start of demolition at 137 Old Burleigh Road signals DVB Projects’ underlying confidence in the Gold Coast’s luxury beachside apartment sector.

“We see the Gold Coast as one of the most compelling lifestyle markets in Australia, particularly at the premium end where demand continues to deepen,” said Dean Brown, Managing Director of DVB.&nbsp;

“This project has been carefully designed to respond to that demand - delivering large-format residences with a level of quality, privacy and amenity that is still relatively rare in the apartment market on the beachside."

Brown says the site itself is "exceptional."

"Old Burleigh Road is one of the most tightly held beachfront strips, and opportunities to deliver a project of this scale and calibre in this location are extremely limited.”

<img alt="DVB Projects to commence demolition on $320m Broadbeach luxury tower" data-entity-type="file" data-entity-uuid="398f377a-c037-455e-9250-0c5e0d84c35b" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/I12_FF%20Balcony.jpg?VersionId=NwOiRWGMubR1c8wthuEfggklcja7al9." />

The project will comprise 40 half-floor residences of approximately 260 sqm, alongside eight full-floor residences spanning around 524 sqm.

A single penthouse will crown the building, featuring a private pool, barbecue area, indoor gym and dedicated entertaining spaces.

Residents will have access to a resort-style suite of amenities, including a 20-metre pool with daybeds, a gymnasium, hot and cold plunge pools, a sauna, and private residents’ lounge and dining facilities.

<img alt="DVB Projects to commence demolition on $320m Broadbeach luxury tower" data-entity-type="file" data-entity-uuid="d1642bb0-9a66-4427-a022-dfc0988c6287" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/A02_Pool%20to%20View.jpg?VersionId=c0IXPyn_Gp_Kn3XCwzMrqIVkAdCEwVXP" />

Sales agent Todd Matheson, of <a href="https://www.apartments.com.au/project-marketer/pezet-matheson">Pezet Matheson</a>, which is marketing both 137 Old Burleigh Road and Sea Glass, said 137 Old Burleigh Road would address a clear gap in the market for genuine luxury products.

“There are very few opportunities on the Gold Coast where buyers can secure a residence of this size and quality in a new building,” Matheson said.

“What we’re seeing is a growing cohort of downsizers and interstate buyers who still want space - they’re not willing to compromise on living area, entertaining or finishes.

“This project has been designed with that buyer in mind. It offers the scale of a home, combined with the convenience and security of apartment living, in one of the coast’s most desirable positions.”

<img alt="DVB Projects to commence demolition on $320m Broadbeach luxury tower" data-entity-type="file" data-entity-uuid="59aae0ca-5639-4320-8aca-d0bf60f48e43" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/E01_Exterior%20Hero.jpg?VersionId=DS8Zfy2WtgUEtdfe0TEUuf1W1GfcZq8S" />

Located on a 1,156 sqm site one block from the beachfront, the development will replace an ageing walk-up building and is expected to contribute to the ongoing transformation of the Old Burleigh Road strip into one of the Gold Coast’s most prestigious residential corridors.

With the development moving into the delivery phase, 137 Old Burleigh Road is slated to hit the market later this year.

[smartcode_project_cta:default project_id=145141]

DVB Projects to launch second Broadbeach apartment tower as demolition commences

<a data-end="327" data-is-only-node="" data-start="250" href="https://www.apartments.com.au/developers/norus-projects" rel="noopener" target="_new">Norus Developments</a> has lodged plans for a new apartment development in Clayton that would add further momentum to the suburb's emerging Green Street corridor.

Plans have been lodged for the consolidated site at <a href="https://www.apartments.com.au/new-apartments/1359-1365-centre-road-clayton-vic-3168">1359-1365 Centre Road</a>, where Norus is seeking approval for 218 apartments across a 12-storey apartment building designed by <a href="https://www.apartments.com.au/architects/life-architecture-and-urban-design">Life Architecture</a>.

The proposal sits within the Clayton Major Activity Centre at the threshold of the planned Green Street corridor, a landscaped pedestrian connection intended to improve links through the precinct towards Clayton Railway Station.

The development would replace the site's existing collection of low-scale residential and commercial buildings with a single consolidated building, introducing significantly greater housing density to this part of Centre Road.

A retail tenancy is proposed at ground level to activate the Centre Road frontage, accompanied by transparent street interfaces and landscaping intended to create a more pedestrian-focused edge to the development.

<img alt="First look: Norus Developments plans landscape-led apartment project for Clayton’s emerging Green Street" data-entity-type="file" data-entity-uuid="0a5a763a-d9e9-4253-af2f-88008de27ebf" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Clayton%20a.png?VersionId=S2WJJbat1XVkZwB9SnYtygirXgWHiklX" />

The building has been designed with stepped massing and upper-level setbacks to manage its transition towards surrounding residential properties. The planning report describes the approach as one that integrates the building into the landscape rather than treating landscaping as a secondary element.

"A strong landscape and public realm strategy underpins the proposal," Urbis states in the planning report.

"Public benefits include an affordable housing contribution, a new pocket park, generous landscaped setbacks, deep soil planting and integrated Water Sensitive Urban Design."

The report adds that these elements are intended to create "a permeable, pedestrian-focused ground plane that enhances walkability, supports urban cooling and reinforces the emerging Green Street character."

Biophilic and passive design principles extend through the residential levels, with planting, daylight, natural ventilation and views towards landscaped areas forming part of the amenity strategy.

Parking would be concentrated away from the public realm, with 145 car spaces proposed from the rear laneway rather than dominating the Centre Road frontage.

The proposal follows an extensive pre-application process with the City of Monash. Three formal meetings were held between the project team and Council from December 2025 to March 2026, with the scheme evolving through several concept iterations before the current design was lodged.

The project arrives as Clayton prepares for substantial change around its established activity centre and the wider Suburban Rail Loop precinct. Its position on Centre Road places the development within an existing concentration of shops, services and public transport, while the Green Street connection is intended to strengthen pedestrian access towards Clayton Railway Station.

First look: Norus plans landscape-led apartment project for Clayton’s emerging Green Street

<a href="https://www.apartments.com.au/developers/gardner-vaughan-group">Gardner Vaughan Group</a> has officially commenced construction on Bronze on Chevron, celebrating the sod turning of its first-ever Gold Coast development and marking a significant milestone in the company's continued expansion across South East Queensland.&nbsp;

Following the successful delivery of premium residential developments throughout Brisbane and the Sunshine Coast, <a href="https://www.apartments.com.au/new-apartments/bronze-on-chevron-8-mawarra-street-chevron-island-qld-4217">Bronze on Chevron</a> represents Gardner Vaughan Group's entry into the Gold Coast market. Bronze will deliver 119 one, two, three and four-bedroom apartments above two ground-level retail tenancies.

[smartcode_project:default project_id=107520 project_image_fid=367193]

The recent sod turning ceremony was attended by Deputy Mayor Mark Hammel, President of the Surfers Paradise Surf Life Saving Club, Cassandra Sedgman, project consultants, purchasers, project partners and invited guests to celebrate the commencement of construction.&nbsp;

Gardner Vaughan Group Chief Executive Officer Simon Betteridge said Bronze on Chevron represented an exciting new chapter for the business.&nbsp;

"We've spent almost four decades building homes that respond to the way people want to live, and we're excited to bring that experience to <a href="https://www.apartments.com.au/developments/chevron-island-qld-4217">Chevron Island</a>," Betteridge said.

"Bronze on Chevron is particularly significant because it marks Gardner Vaughan Group's first development on the Gold Coast following many successful projects across Brisbane and the Sunshine Coast."

[smartcode_project:default project_id=107520 project_image_fid=367183]

Betteridge said the ground breaking is a proud moment for the&nbsp;team and their purchasers, who can now see their future homes beginning to take shape.&nbsp;

"As both developer and builder, we're able to oversee every aspect of the project from design through to construction, ensuring the quality and attention to detail Gardner Vaughan Group has become renowned for."&nbsp;

Designed by acclaimed architectural practice <a href="https://www.apartments.com.au/architects/cottee-parker-architects">Cottee Parker</a>, Bronze on Chevron has been thoughtfully designed to complement Chevron Island's evolving streetscape while embracing its relaxed coastal lifestyle.

The development will offer generous residences with refined interiors, premium finishes and resort-style amenities, with completion anticipated in early 2029.&nbsp;

[smartcode_project_cta:default project_id=107520]

The development will offer generous residences with refined interiors, premium finishes and resort-style amenities, with completion anticipated in early 2029

Gardner Vaughan Group breaks ground on first Gold Coast development, Bronze on Chevron

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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A securely leased property in the business hub of Western Australia’s Kalgoorlie-Boulder is up for sale through private treaty. 
The 29 Boulder Road property is occupied by automotive parts specialist Covs Parts – a wholly owned subsidiary of ASX-listed GPC Asia Pacific Pty Ltd. 
The 3,019 sqm site includes a 1,630 sqm showroom/office building accommodating Covs Parts’ automotive showroom. 
The property is currently leased on a five year term, expiring in 2021. 
The listing agents are CBRE’s Richard Cash and Matthew Elliott.
“Located in close proximity to Hannan Street – Kalgoorlie-Boulder’s main thoroughfare – this property also offers development potential that will attract developer interest,” said Cash. 
Kalgoorlie-Boulder is Australia's largest Outback City with a population of more than 30,000 people.
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prateek24-ezbwHMbNAk

Investment property on market in regional WA

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ASX-listed Lantern Hotel Group is set to test Queensland’s regional market, with plans to sell the Central Hotel in Bundaberg as part of its divestment strategy.
The property would be sold via an expressions of interest campaign closing July 14. 
The hotel is on a 1,017 sqm landholding in Bundaberg CBD, and operated under a 3 am liquor licence. The hotel also includes 14 Gaming Machine Authorities.
The move to sell the Central Hotel in Bundaberg was in line with the firm’s strategy to divest non-core assets and focus on its NSW portfolio, said Lantern’s chief executive John Osborne. 
“The Central Hotel has been a passive investment for Lantern and is subsequently superfluous to our current business model,” Osborne said. 
The Central Hotel is being offered as a going concern, including both the business and property components. 
The listing follows a flurry of deal activity by Lantern, with the group recently placing the Cairns Courthouse Hotel on the market, apart from three successful hotel deals over the past nine months. 
CBRE Hotels’ Daniel Dragicevich, Glenn Price and Paul Fraser have been appointed to sell the property.
 
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Lantern to divest from Queensland’s Central Hotel, Bundaberg 

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Hi Margaret, just wondering if things have changed in the Lockyer Valley and whether it is a growth area and worth looking at from a long term investment perspective?
Answer: 
When you make that decision to invest in property, there is much more to consider than whether an expert is predicting whether an area will make a good investment, or not.
You see, working out whether an area has the potential to be a good investment is a little like asking how long is a piece of string – that also depends upon the piece of string, and who cut it in the first place. 
You must start by establishing a few things about yourself – the time till you will need to realise this investment, the personal cash flows you can afford to support along the way, and how much is your borrowing capacity.  You also need to know whether your immediate reliance will be on growth, giving you equity quickly to be able to buy more property, or on cash flow – providing enough rental return to enable you to stay in the market and make your loan repayments and meet expenses.
Some investors have plenty of equity in their own home which allows them to buy more than one property, and so they can afford to wait for growth and buy in areas which may be a little more speculative or long term.  Such areas, as long as they have the correct growth drivers, will grow in the long term and probably get pretty good rent returns in the short term. 
Other investors have no equity or little in the way of deposits, and so each and every purchase must grow immediately, or they won’t be able to add to their portfolio.  Always remember that to make money from property you need to buy more than one, and so it is important to really understand what you can afford both in terms of supporting the property financially in the short term and seeing it grow in the longer term.
Once you know this you can establish what you can afford, whether you need a higher or a lower rental yield and if you can wait until the longer term for that important growth to occur.  Make no mistake, cash flow is important but if the property never grows, it’s most likely not worth the time and effort to buy it.
In terms of the Lockyer Valley, it’s a growing area, but it’s on a very slow burn and, in my opinion, will be so for some time.  Considered the ‘salad bowl’ of Southern Queensland, there’s still quite a way to go until the population mass reaches the critical point where super infrastructure begins to be built, population explodes and the micro economy burgeons.  I have no doubt that, over the longer term this is an area which can deliver some reasonable results, but that term is going to be quite lengthy.
It’s now up to you to determine whether you can speculate long enough and wait for this growth, or whether an area with more assured growth, sooner (albeit one which may have relatively lower yields) is more up your alley.
 Have a property question?  <a href="mailto:%20&lt;script%20type='text/javascript'&gt;%20/n%20&lt;/script&gt;&lt;script%20type='text/javascript'&gt;%20%20&lt;/script&gt;This%20email%20address%20is%20being%20protected%20from%20spambots.%20You%20need%20JavaScript%20enabled%20to%20view%20it.%20&lt;script%20type='text/javascript'&gt;%20%20&lt;/script&gt;" target="_blank">Ask Margaret!</a>
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mlomas-KC9MUPZ6Ca

Property market in Laidley, Gatton and Lockyer Valley: Ask Margaret 

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There are $100 million-plus hopes for Washington H Soul Pattinson's Pitt Street Mall headquarters which has been listed by JLL.
The head office and pharmacy of the company, now known as WHSP, has operated at 160 Pitt Street since 1885, after it was rebuilt following a fire to the 1870s building.
The company - managed by the family - has evolved into an investment house with $5.5 billion in assets under management.
One of its best-known assets is the Victorian Italianate retail and office building in the heart of Sydney, one of the select properties with prime Pitt Street Mall.
"It unquestionably is a highly unique, super strategic and really a 'one-off' opportunity to secure an absolute prime foothold in Australia's strongest retail strip," said JLL's Simon Rooney, who has been appointed to sell the property with colleague Rob Sewell.
Pitt Street Real Estate Partners is advising WHSP on the divestment.
The property has a gross lettable area of 1290sq m.
"As a result of the high retailer demand for presence along Pitt Street, it now commands some of the highest rents in the world, with recent evidence showing rates of $12,000 to $15,000 per sq m annually," Mr Rooney said.
According to JLL’s Australasian Retail Investments head, Simon Rooney, Pitt Street Mall is the most productive retail in Australia with estimated sales of approximately $1.4 billion or productivity of around $14,000/sqm and exposure to exceptionally high pedestrian traffic with 65,000 visitations a day, which has drawn high profile international retailers to Pitt Street Mall in recent years such as H&amp;M, Zara Home, Topshop, Sephora, Forever 21, Uniqlo and Microsoft.
There are limited options for contiguous space in Midtown. Vacancy has compressed to 6.4 percent - well below the 10 year average of 8.1 percent. 
There is tangible evidence that rents are rising in Midtown.
"Multiple capital sources are subscribers to the Midtown investment thesis and investor expectation of above trend effective rental growth is reflected in under-writing assumptions," Rob Sewell said.
"This was evidenced by the recent sale of Fortius’s 75 percent share in MidCity Centre to Hong Kong based NGI Investments for $320 million, Brookfield’s 50% share in World Square to ISPT for $285 million and the sale of the Telstra Discovery store at 396 George Street for $26.25 million, representing a record sale rate per square metre of lettable area of $262,500,” said Mr Rooney.
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jchancellor-FAypfDUnLy

Soul Pattinson lists on Pitt Street Mall

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I almost choked on my fresh brew of coffee as I read what I and the local agents consider to be low rental data reports, shared last week.
I do completely understand that the author is relying on data provided by Domain head-office; nevertheless, the Domain figures are, in my opinion, far from the true reflection of the current rental market.
"Poles apart we may say..."
Real Data and live data is what is required now and in keeping with property investor demands and the financial institutions that rely on these. Most can’t and don’t have the resources to call and drive around Sydney, nor do they know where to look.
"Relying on property portal listings by agencies; is definitely fraught with  danger..." 
The following reported numbers are what I believe reflect the true picture, one that will soon be the demise of many want-to-be investors and those that have this fear of missing out. 
NORTHMEAD NSW, 2152
Property portal shows: 34 units available for rent (21/6/2016)
Real Data: reveals closer to 260 units available
CANTERBURY NSW, 2193
Property portal showing: 98 units available for lease (21/6/2016)
Real Data: reveals 360 plus units now on the market for lease. 
PARRAMATTA NSW, 2150
Property portal showing: 217 units available for lease (21/6/2016)
* ONLY A WEEK AGO THE PORTAL DATA REFLECTED "156 Vacancies." On their figures alone, this is an increase of approximately 30 percent in only a week.   
Real Data: reveals an estimated number closer to 900 units available for lease.
Warning and Tips
There are more apartment blocks under the final stages of completion. These will have occupation certificates within the next 2-3 months.  We estimate another 300-500 properties to roll onto the rental market in Parramatta in this time. 
The above mentioned manifestation,  is not confined to Western Sydney.  Many suburbs of Sydney are experiencing similar developments...
Real Data
Real Data is a compilation of information gathered from local area real estate agents, knowledge of buildings under construction and communication with the selling agents and property managers.
Real Data should serve as a warning to people looking to enter the property investment market in Sydney. In particular, people that are looking to purchase property off the plan and in newly built apartment blocks.
We recommend that the investor/property buyer, seeks local real estate advice and looks carefully at the local rental market return trends and availability. 
 
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

Data and the demise of many want-to-be investors: Edwin Almeida

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A South Melbourne commercial property leased to burger giant Grill’d has fetched $3.36 million at auction.
The Clarendon St premises sold on a yield of 3.4 percent after bidding from local and international investors.
Grill’d recently signed a new seven-year lease for the shop, with an option of a further seven years.
It was sold by Fitzroys agent Andrew Hewett.
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Grill'd South Melbourne premises sell

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The first property vehicle to float on the Australian Securities Exchange this year, Australian Unity Office Fund saw investors making 6.5 per cent on the float price of $2 a share this week.
The new trust has a $391 million portfolio of eight assets in Sydney, Adelaide, Melbourne, Brisbane and Canberra.
Its share price traded as high as $2.20 in trading on debut on Monday June 20. It was trading at $2.12 on Wednesday, July 22.
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The fund manager raised $155 million in new equity for the former unlisted vehicle through the bankers at UBS, Credit Suisse and National Australia Bank.
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The new Australian Unity trust is forecasting a dividend yield of 7.4 percent. 
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The property portfolio has a 96.5 percent occupancy rate, according to Credit Suisse. 
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The fund is overseen by former Federation Centres non-executive director Peter Day as chairman.
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Australian Unity lists on ASX

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Market competition in the childcare space has seen yields sharpen over the last six months, ranging from 3.9 percent to 7.3 percent, according to a white paper from Colliers.
According to Colliers, sales in the childcare space were sporadic, and typically at higher yields than the retail and industrial market. The report noted a sale in September 2010 which transacted at a yield of over 14 percent, the highest since March 2007.
"Since then, yields have sharpened quickly, and this is not surprising given the newly created competition that has occurred amongst organisations keen to expand their portfolio," the report said.
"Yields have ranged from 3.90 percent to 7.30 percent in the last 6 months and while we can see further consolidation occurring, inconsistency is still apparent. The most recent transaction recorded in April 2016 attracted a yield of 3.90% percent Prior to this, the lowest yield achieved occurred in April 2014 at 4.32 percent.
"A heavy concentration of sales occurred on the east coast of Australia, especially in recent years with sales increasing from only 2 auctions in 2008 to 33 in 2015, most of which are tenanted with a 10 year average initial lease term. The first half of 2016 has seen 18 child care centres sold with the bulk of transactions occurring in New South Wales."
<a href="/images/2016/06/21/Screen%20Shot%202016-06-21%20at%201.07.03%20PM.png" target="_blank">Click to enlarge</a>
<img src="/images/2016/06/21/Screen%20Shot%202016-06-21%20at%201.07.03%20PM.png" alt=""> 
The report said most childcare sales now include longer least terms, previously ten years.
"However as sales activity increases within this new investment sector, we’re seeing lease terms of 15 to 20 years emerge, along with a further 15 to 20 years in options which are to be exercised 5 years in advance. Anything under a term of 10 years for a new lease is a rarity and not widely considered by landlords. "
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jonathanchancellor-7SQnKwU6yx

Childcare investment driving yields higher: Colliers

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A small shop in Gold Coast’s Broadbeach is up for lease and would ideally suit a fast food eatery.
The property at 6/2723 Gold Coast Highway is being marketed by Raine &amp; Horne’s David Task.
Spread over 44 sqm, the property has a partial fit-out and includes a cold room and exhaust canopy. It is available from August 1.
Fronting Gold Coast Highway, the property has great exposure. It is also opposite the Convention Centre and Light Rail station
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Fast food outlet in Gold Coast's Broadbeach up for lease through Raine & Horne

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Melbourne’s industrial and logistics market emerged as one of Australia’s most attractive asset classes, as reflected from the 50 basis point tightening in industrial yields in the last 12 months, says new research. 
Commercial real estate firm CBRE’s 2016 Q1 Industrial MarketView revealed a steady flow of offshore interest in the Victorian capital in 2015, with expectations for the momentum to continue in the year ahead.
After a strong last quarter, which saw $765.7 million in industrial property change hands, sales in the first three months of 2016 fell significantly, with only $87.2 million transacting over the period, albeit considerably more currently in due diligence. 
<a href="/images/2016/06/21/Screen%20Shot%202016-06-21%20at%2012.00.33%20PM.png" target="_blank">Click to enlarge</a>
<img src="/images/2016/06/21/Screen%20Shot%202016-06-21%20at%2012.00.33%20PM.png" alt=""> 
CBRE regional director, Industrial &amp; Logistics, Chris O’Brien said this was due to a shift in investment sentiment in 2016, with buyers moving up the risk curve to seek more attractive returns. 
“2015 saw a significant flow of new offshore entrants to the market, looking to inject capital into low risk assets, such as real estate,” O’Brien said.  
“However, the first quarter of 2016 has seen a change in sentiment, whereby investors are seeking opportunities higher up the risk curve - reflecting higher yields through property fundamentals, leasing risk and value add opportunities, which bodes well for domestic players”.
Notwithstanding banks’ tightening lending criteria, a low Australian dollar and favourable cash rate, Melbourne’s industrial &amp; logistics sector will remain a sought after market on a global scale, with the higher comparative yields on offer strengthening its appeal, according to the report. 
Following a six-year high for industrial supply in Melbourne during Q4, a smaller pipeline is expected in 2016 to reduce the risk of oversupply. 
Across Victoria, nearly 125,000 sqm was forecast for completion during the first quarter of 2016, with the western and south eastern precincts seeing the largest volumes of supply. 
The lower supply pipeline (55 percent lower than 2015) is also expected to encourage rent growth in the medium to long term. 
Major developments completed in Q1 include a 25,650sqm warehouse facility for Kathmandu in Truganina and a 25,000sqm warehouse in Merrifield.
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