<section data-scroll-anchor="false" data-testid="conversation-turn-2" data-turn="assistant" data-turn-id="request-WEB:9894702f-d5ab-4186-930d-8f794421c3c4-0" data-turn-id-container="request-WEB:9894702f-d5ab-4186-930d-8f794421c3c4-0" dir="auto">
<a href="https://www.apartments.com.au/developers/doma-group">DOMA Group</a> has unveiled plans for Newcastle Quay, a major waterfront precinct set to reshape Newcastle’s harbourfront and further cement the city’s evolution into one of Australia’s fastest-growing urban destinations.

Positioned on a prominent site within the Honeysuckle Precinct, Newcastle Quay will span both sides of Honeysuckle Drive, connecting directly to the Foreshore Promenade and sitting within walking distance of Newcastle Interchange.

The mixed-use precinct is planned to include around 1,000 apartments, more than 28,000 sqm of commercial office space, 6,000 sqm of retail, and a 180-room hotel anchored by a 500-seat conference and exhibition centre, a move expected to significantly lift Newcastle’s ability to attract major business and tourism events.
</section>

<img alt="DOMA Group unveil Newcastle’s future with transformative Newcastle Quay Precinct" data-entity-type="file" data-entity-uuid="0642ca09-67cc-4920-8a7e-d18df9729b4e" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/%3D.png?VersionId=CnDmZxQnOV5LN0ePu7jaFBXC9tPGTrWm" />

The proposal builds on DOMA’s growing Newcastle pipeline, where the developer has already delivered 866 apartments and more than 19,000 sqm of commercial and retail space since entering the market in 2013. A further $2 billion pipeline is also in the works across the city.

The masterplan and executive architecture are led by <a href="https://www.apartments.com.au/architects/sjb-architects">SJB</a>, with building concepts developed alongside Stewart Architecture, Architecture AND and Curious Practice, and landscape design by <a href="https://www.apartments.com.au/landscape-architect/turf-design">Turf Design Studio</a>. More than 11,000 sqm of open space is planned, including a new waterfront park known as Honeysuckle Green, upgrades to Tree of Knowledge Park, and new pedestrian and cycling links throughout the precinct.

At the centre of the development will be the heritage-listed Wickham School of Arts, which DOMA plans to reposition as the civic and cultural heart of the precinct through restaurants, bars, events and public gathering spaces.

The broader vision is to create a genuine day-to-night precinct, blending residential, hospitality, retail, commercial and cultural uses in a way Newcastle has yet to experience at this scale.

DOMA Group Managing Director Jure Domazet said the aim was to create a precinct that becomes synonymous with Newcastle itself.

“Our vision is to create a precinct that not only delivers high-quality commercial, residential, and cultural spaces, but also defines Newcastle’s waterfront for generations to come,” Domazet said.

DOMA’s Chris Farrington said the project would fundamentally change how Newcastle is perceived nationally.

“Newcastle Quay is more than a waterfront precinct, it is a national announcement for this city,” Farrington said.

“A world-class Conference and Exhibition Centre will open Newcastle and the Hunter Region to a national and international audience for the first time, delivering something this city has long deserved.”

The project is expected to generate more than 4,000 full-time equivalent jobs and act as a major economic driver for the Hunter region through tourism, business events, hospitality and commercial investment.

&nbsp;

&nbsp;

Minister for Planning and Public Spaces Paul Scully said the final parcel of harbourfront land will be a "true mixed-use precinct destination that includes housing, hospitality and entertainment, commercial spaces, retail, economic and social outcomes."

Joel Robinson

DOMA Group unveils 1,000-apartment Newcastle Quay precinct

ASX-listed developer Stockland is continuing to ramp up its return to the apartment market.

In late 2024, <a href="https://www.apartments.com.au/developers/stockland">Stockland</a> announced it would resume apartment development after a 13-year absence, launching with Stanton Place in Rosebery, a 144-apartment project now under construction.

Last week, the developer unveiled plans alongside the NSW Government for a <a href="https://www.apartments.com.au/news/nsw/first-look-stockland-nsw-gov-unveils-plans-for-3-300-home-waterloo-south-renewal">3,300-home precinct in Waterloo</a>.

Now, Stockland has shifted its focus in St Leonards, lodging a State Significant Development Application (SSDA) to replace an approved 42-storey office tower with a 52-storey residential development comprising more than 500 apartments.

<img alt="Stockland" data-entity-type="file" data-entity-uuid="8979095e-9072-432b-a7da-58b180cf994d" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-05-20%20at%204.27.36%E2%80%AFPM.png?VersionId=_jbRXYOafCSHjwsz.yQCNIymMyCj8zkF" />

An existing 14-storey commercial office building would make way for a 264.5-metre tower designed by <a href="https://www.apartments.com.au/architects/bates-smart">Bates Smart</a>. The project would deliver 538 apartments, including 30 affordable housing units, alongside retail and commercial uses at the podium and ground plane.

It will rise from&nbsp;<a href="https://www.apartments.com.au/new-apartments/601-pacific-highway-st-leonards-nsw-2065">601 Pacific Highway</a>, a prominent 2,844 sqm triangular site adjoining Mitchell Plaza and fronting Pacific Highway.

The development is being pursued under the Housing Delivery Authority pathway after Stockland’s proposal was declared State Significant Development earlier this year.

<img alt="First look: Stockland plans 52-storey mixed-use tower with 538 apartments in St Leonards" data-entity-type="file" data-entity-uuid="67f40f35-0458-47ab-80c0-a4e98a31838a" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/stockland%201.png?VersionId=rxXe3njr.auuGDuiR0k42uI8Zr4K.gZA" />

The apartment mix includes 217 one-bedroom apartments, 191 two-bedroom apartments, 122 three-bedroom apartments, and eight four-bedroom residences. Six basement levels would accommodate 300 car spaces, bicycle parking, loading areas, and building services.

Bates Smart said the project has been shaped around a series of urban design principles intended to improve the pedestrian experience and respond to the evolving character of St Leonards.

“With a boundary length of almost 75m along Pacific Highway and 70m along Atchison Street to the north, complying simply with the LEP envelope and required setbacks would result in a very wide tower form on the skyline,” the architects noted in the Design Report.

“We propose breaking the tower form into two defined volumes rather than a singular form.”

The podium has similarly been articulated into separate forms to reduce perceived bulk and create a finer-grain response to Mitchell Plaza and Atchison Street. Retail tenancies would activate the lower levels, while commercial space is proposed across the podium floors.

<img alt="First look: Stockland plans 52-storey mixed-use tower with 538 apartments in St Leonards" data-entity-type="file" data-entity-uuid="90149990-0551-40d2-bd48-14b69a015d12" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/stockland%202.png?VersionId=MJC2KIIWFvU9FPGr3IVq09gkRN_gX3m8" />

The design also places a significant emphasis on communal amenity and environmental performance. Residents would have access to landscaped terraces, wellness areas, flexible workspaces, and rooftop communal facilities, while the all-electric building is targeting an average 7-star NatHERS rating. Bates Smart said the project incorporates passive design measures including natural ventilation, integrated shading, and lightweight façade systems.

Planning documents note the site is around 350 metres from St Leonards Station and 400 metres from the metro entrance, placing it within one of Sydney’s most connected emerging residential precincts.

The project arrives amid a wave of large-scale redevelopment proposals reshaping the St Leonards and Crows Nest skyline. Several nearby sites have recently been approved, lodged, or declared under the Housing Delivery Authority pathway as the precinct absorbs significant residential density uplift tied to transit-oriented development policies.

<img alt="Stockland" data-entity-type="file" data-entity-uuid="7805bd7c-dfd7-4b35-8e15-ec4a8bf8e61b" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-05-20%20at%204.27.26%E2%80%AFPM.png?VersionId=iY12K2m2bQ6EeDnshqfZC9rbLx_oEugP" />

Bates Smart’s report describes St Leonards as transitioning away from its historical commercial identity toward a more mixed-use urban environment.

“In recent years, the character of St Leonards has started to evolve, driven by new development trends along the Pacific Highway corridor,” the report said.

“These projects have increasingly focused on residential accommodation, marking a shift from its purely commercial roots.”

Sekisui House Australia is currently selling Waterstone down near Newlands Park, in a pocket being branded "St Leonards South." Hyecorp recently completed Audrey in the same pocket.

First look: Stockland plans 52-storey, 538-apartment St Leonards tower

ANZ believes the Reserve Bank is in no rush to move again.

Following the release of the May Monetary Policy Board Minutes, ANZ has taken the view that the RBA is now firmly in a holding pattern, with the cumulative impact of previous rate hikes giving the Board scope to assess how the economy evolves from here.

That positioning, in ANZ’s view, makes a June rate hike unlikely.

The bank continues to expect the cash rate to remain unchanged at 4.35 per cent for an extended period, with the RBA adopting what is effectively a wait-and-see approach.

The Minutes point to a Board that sees financial conditions as already restrictive, but without a clear read on just how restrictive they are. That uncertainty has shifted the focus away from immediate policy action and toward monitoring both domestic conditions and global developments, particularly the conflict in the Middle East.

As ANZ interprets it, the Board is deliberately avoiding strong forward guidance.

Instead, it is allowing itself flexibility, acknowledging that monetary policy has limited ability to influence the near-term trajectory of inflation, while also recognising that economic growth is likely to remain below potential for some time.

Despite that pause in momentum, ANZ notes that the Board still carries a tightening bias.

The Minutes reveal that, in weighing up its decision, the Board seriously considered another 25 basis point increase. The key debate centred on the trade-off between inflation and activity, particularly in the context of global uncertainty.

Ultimately, most members leaned toward the inflation side of that equation.

Underlying inflation is still expected to remain above target for an extended period, regardless of how external risks evolve. That has led to a view within the Board that the risks to its inflation objective have increased, and that the current cash rate may not be sufficiently restrictive to fully contain those pressures.

That’s important.

While the decision, for now, is to hold, the underlying tone of the Minutes suggests the door to further tightening has not been closed.

ANZ also points to commentary from Assistant Governor (Economic) Sarah Hunter, who highlighted the risk that inflation could pass through the economy more quickly and broadly than in previous cycles. Both Hunter and a majority of the Board expressed concern that inflation expectations could become less anchored after such a prolonged period above target.

That combination, persistent inflation and the risk of expectations shifting, is what continues to underpin the RBA’s cautious stance.

However, where ANZ diverges from the RBA is on the outlook for activity.

The Board appears relatively comfortable with current spending patterns, effectively downplaying recent declines in business and consumer sentiment. It notes that sentiment has historically been only weakly correlated with actual spending, and that feedback from its liaison program has not yet pointed to a meaningful slowdown in consumption.

ANZ is less convinced.

The bank believes the link between household disposable income, sentiment and spending is more direct than the RBA is currently acknowledging. With inflation continuing to erode real incomes, ANZ expects household spending to soften more materially than the central bank is forecasting.

That divergence matters because it shifts the balance of risk.

If activity weakens more than expected, the trade-off between inflation and growth changes. In ANZ’s view, that would reduce the need for further tightening and reinforce the case for the RBA to remain on hold.

It also suggests that the current policy setting may already be doing more work than the Board fully appreciates.

The broader takeaway from ANZ’s interpretation is that the RBA is walking a narrow path.

On one side sits the risk of inflation remaining elevated for longer than expected. On the other is the growing pressure on households and the potential for a sharper slowdown in activity.

For now, the Board is choosing to wait.

But it is a pause that still carries an underlying tightening bias, rather than a clear pivot toward easing.

In practical terms, that leaves the cash rate anchored at 4.35 per cent for the foreseeable future, with the next move still uncertain.

For borrowers, it reinforces the reality that relief is not imminent.

And for the broader economy, it highlights the delicate balance the RBA is trying to strike, between bringing inflation back to target and avoiding an unnecessarily sharp slowdown in growth.

According to ANZ, it is a balance that is becoming increasingly difficult to maintain.

RBA to hold rates for "prolonged period" rather than hikes: ANZ

<a href="https://www.apartments.com.au/developers/venturecrowd-property-projects">VentureCrowd</a> is down to the final Canopy Villa release at Cumulus Grand Villas in Carrara, as construction continues on the 59-residence gated community positioned above 100 hectares of natural savanna on the Gold Coast.

The remaining Canopy Villa forms part of one of four collections within the <a href="https://www.apartments.com.au/architects/bda-architecture">BDA Architecture</a>-designed community and has attracted interest from buyers seeking larger-format homes that combine privacy, security and low-maintenance living. Positioned within a private cul-de-sac and facing a protected black she oak forest, the four-bedroom villa includes a large private outdoor area suited to pet owners and families wanting more flexible space.

<a href="https://www.apartments.com.au/new-townhouses/cumulus-grand-villas-carrara-17-baltimore-court-carrara-qld-4211">Cumulus Grand Villas</a>, located at 17 Baltimore Court, comprises a mix of three and four-bedroom villas across the Skyline, Canopy, Savanna and Broadview collections. Prices currently range from $1.455 million to $1.895 million, with the final Canopy Villa priced from $1.825 million.

[smartcode_project:default project_id=135663 project_image_fid=360477]

The Canopy Collection villas offer four bedrooms, 2.5 bathrooms and approximately 245 sqm of internal space, alongside double garages and landscaped private areas. Expansive glazing, open-plan living spaces and private balconies have been designed to maximise natural light and outlooks toward the surrounding savanna landscape.

Construction is now underway across the fully funded development, which VentureCrowd says has become an increasingly important consideration for buyers assessing off-the-plan opportunities on the Gold Coast. The project is being delivered by <a href="https://www.apartments.com.au/builders/devcon">Devcon Property Group</a>, which has operated in South East Queensland since 1993 and delivered more than 1,000 homes across the region.

VentureCrowd Director of Property David Whitting previously said the project responds to changing buyer priorities in the prestige Gold Coast market.

“Flexible floorplans have proven particularly relevant for purchasers aged between 40 and 65, including next home buyers, downsizers and investors,” Whitting said.

[smartcode_project:default project_id=135663 project_image_fid=360505]

The buyer profile at Cumulus has reflected that shift toward owner-occupier-driven demand. Stuart Towns and Tracey Loynes recently purchased a Canopy Villa, drawn to both the lifestyle offering and the flexibility the home provided for their next stage of living together.

The couple, who met three years ago, sold their Robina home earlier this year after identifying what they saw as strong long-term investment potential at Cumulus while remaining within the same Gold Coast market. The villa’s private backyard was a major drawcard for their dog Luna, while proximity to golf courses including Emerald Lakes also aligned with their lifestyle interests.

Beyond the residences themselves, the community has been planned around shared lifestyle and recreation amenities. The Infinity Terrace will include a 20-metre heated pool, barbecue facilities, alfresco dining spaces and elevated retreat areas overlooking the surrounding landscape. Walking trails, a private nature reserve, orchard and herb garden are also integrated into the masterplan.

[smartcode_project:default project_id=135663 project_image_fid=360473]

BDA Architecture Director Darren Greenaway said the design approach was heavily influenced by the site’s outlook and secluded setting.

The practice sought to create what Greenaway described as a “little piece of paradise,” drawing inspiration from the elevated views, surrounding greenery and quiet location.

<a href="https://www.apartments.com.au/developments/carrara-qld-4211">Carrara</a> continues to attract buyers seeking larger homes within proximity to the coast but without direct beachfront pricing. Cumulus sits within easy reach of Broadbeach, Pacific Fair, Robina Town Centre and the M1, providing connections north to Brisbane and south toward the Gold Coast Airport and northern New South Wales.

The first stage of Cumulus Grand Villas is targeting completion in 2026.

[smartcode_project_cta:default project_id=135663]

VentureCrowd nears sell-out of Canopy Collection at Cumulus Grand Villas in Carrara

Waverley Council has made a call that many councils have been reluctant to make publicly. Growth is coming, regardless of who controls it.

The release of the Bondi Junction Vision and Master Plan is less about whether the Eastern Suburbs’ primary centre will change, and more about how that change is shaped, funded, and ultimately experienced on the ground. Waverley Council has released a 100-page plan which is effectively the first comprehensive blueprint for Bondi Junction in over two decades, and in doing so, signals a clear shift in how councils are positioning themselves in the current planning environment.

For the past 18 months, the conversation across New South Wales has been dominated by the State Government’s Low and Mid-Rise Housing reforms and the emergence of the Housing Delivery Authority pathway. Both have created faster, more centralised avenues for development approvals, particularly in well-located, infrastructure-rich areas like Bondi Junction.

Waverley Council’s response has been to move early, and decisively.

Rather than react to individual proposals as they come through the HDA or broader State-led reforms, Council has sought to establish a clear, place-based framework that sets the terms for how Bondi Junction evolves. The underlying position is relatively straightforward: if densification is inevitable, it should be tied to infrastructure, public domain improvements, and a cohesive vision for the centre, not delivered piecemeal through ad hoc applications.

<img alt="bondi junction" data-entity-type="file" data-entity-uuid="7f1f729c-ed99-4c6c-bf87-ffbce6991941" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-05-19%20at%209.58.16%E2%80%AFAM.png?VersionId=ULX4OlXKjeJ5BvNCNGL86evgXCjCfMih" />

At its core, the document is attempting to reposition Bondi Junction from what it largely functions as today, a transport interchange anchored by a major retail centre, into something far more layered. The ambition is to transform it into what the plan describes as the “civic and cultural heart of Sydney’s East,” a place that is active beyond commuting hours and capable of supporting a broader mix of uses, experiences and communities.

That repositioning is built around four key ambitions.

The first is to create a true destination. Bondi Junction already attracts significant foot traffic, with more than 86,000 daily transport users and millions of annual retail visits, but much of that activity is transient. People pass through, rather than stay.

The Master Plan seeks to change that dynamic. It leans heavily into the idea of an “18-hour economy,” extending activity well beyond traditional retail hours through dining, cultural programming, events, and a more active night-time offering. This is not just about adding more hospitality venues, but about fundamentally shifting how the centre operates, from a daytime shopping destination to a place that functions across the full span of the day and into the evening.

Oxford Street Mall sits at the centre of that shift.

Long seen as underperforming relative to its potential, the Mall is identified as one of the key catalyst projects in the plan. It is to be reimagined as a day-to-night spine, combining retail, dining, wellness and cultural uses in a way that creates a continuous flow of activity. Outdoor dining, rooftop venues, laneway activation and a curated events program are all part of the strategy, alongside significant public domain upgrades that aim to improve comfort, safety and usability.

&nbsp;

The second ambition is to transform Bondi Junction into a world-class interchange.

Despite being one of the most heavily used transport nodes in Sydney, the current experience is fragmented. Connections between the station, Westfield, Oxford Street Mall and surrounding streets are often unclear, and major roads create physical barriers that disrupt pedestrian movement.

The Master Plan proposes a more seamless, people-focused network. That includes clearer pedestrian links, improved wayfinding, better integration between transport modes, and a rethinking of how arrival into the centre is experienced. The aim is to shift the perception of Bondi Junction from a place people move through, to a place they arrive in.

The third ambition focuses on greening and open space.

One of the more consistent pieces of community feedback throughout the Vision phase was the need for more greenery, better public spaces, and a more comfortable urban environment. Despite being surrounded by major parks, Bondi Junction itself has relatively limited accessible open space, with much of the public realm dominated by hard surfaces and traffic infrastructure.

The plan responds with a network of new and upgraded public spaces, increased tree canopy, and what it terms the “Parkline,” a green link connecting Waverley Park through to Centennial Park. This is not just about aesthetics. It is about addressing heat, improving liveability, and ensuring that increased density is matched by access to high-quality outdoor space.

The fourth ambition is perhaps the most important from a development perspective: growth that gives back.

Bondi Junction is already the primary location for new housing supply in the Waverley LGA, and that is expected to continue. The area carries a target of 2,400 new dwellings by 2029, with further growth projected beyond that as demand for well-located housing continues to rise. The Master Plan does not seek to limit that growth. Instead, it attempts to shape it.

New housing is to be concentrated around transport, with stepped building heights designed to protect the character of surrounding neighbourhoods. At the same time, the plan introduces a more explicit link between development uplift and public benefit. This is where value capture becomes central.

The document outlines a framework where increased development potential is tied to contributions that fund public domain improvements, community infrastructure, open space, and affordable housing. It is an approach that recognises that much of the transformation of Bondi Junction will be delivered by the private sector, but seeks to ensure that the benefits of that growth are shared more broadly. The Civic Precinct is a key part of that equation.

Leveraging Council-owned land, the plan proposes a consolidated civic and cultural hub centred around Ebley Street. This would include new community facilities, cultural spaces, and potentially a new Council Chambers, creating a focal point for civic life that currently does not exist in Bondi Junction at scale.

It is one of several catalyst projects identified in the Master Plan, alongside the Oxford Street Mall transformation. These projects are intended to anchor change, acting as early interventions that unlock broader investment across the precinct.

Importantly, the Master Plan is not just a design document. It includes a delivery framework that sets out how these ambitions are intended to be realised.

Council is explicit in acknowledging that it cannot deliver the transformation alone. Implementation will require coordination between State agencies, private developers, landowners and the community, with a mix of planning agreements, infrastructure contributions and direct delivery mechanisms used to fund and stage improvements over time.

The plan outlines a mix of short-term, medium-term and long-term actions, from immediate public domain upgrades and planning controls, through to larger-scale projects that will unfold over the next decade or more. In practical terms, the next 12 to 24 months will be the most important.

This is when the Master Plan will move through exhibition, refinement and eventual adoption. It is also the period in which Council will seek to embed the framework into its planning controls, giving it weight in the assessment of future development applications.

Council officers have indicated that once the Master Plan is in place, it could be used as a benchmark when assessing Housing Delivery Authority proposals, and potentially reduce the need for further HDA declarations within Bondi Junction. In effect, it is an attempt to bring planning control back to the local level, while still aligning with State housing targets.

That tension between State-led reform and local planning control is not unique to Waverley. It is playing out across Sydney.

&nbsp;

&nbsp;

&nbsp;

If delivered as intended, Bondi Junction will become denser, more active, and more complex. It will support more residents, more workers, and a wider range of uses, extending beyond its current retail core into a more layered urban environment.

“The civic and cultural heart of Sydney’s East”: Bondi Junction masterplan revealed

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

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

<html><body>
National office vacancy in Australia remained largely flat, says the latest Property Council of Australia Office Market Report but it belies the changes to the economy as the mining investment boom ends and significant new office space comes online.
The rise in vacancy was 10.5 percent from 10.4 percent, but demand was seen increasing for the fourth consecutive period.
“The almost static national rate makes it look like it is all smooth sailing across the lake. This hides what is happening below the surface,” said Property Council chief executive Ken Morrison, pointing to the major differences between the cities and regional areas. 
“The economy is in transition; Sydney and Melbourne are reclaiming their historic claims as the economic engine-rooms of the economy; and in most cities, we are witnessing strong increases in demand. This demand is being sufficiently met by significant additions to office supply.”
He said the demand for offices in Sydney and Melbourne is strong, which is good news for Australia as the mining investment boom ends. 
Sydney CBD and Melbourne CBD showed the lowest vacancy rates with 6.3 per cent and 7.7 per cent respectively, closely followed by Hobart (8.1 per cent). The two top cities are also the best performing markets by net absorption.
“But the story is not even. Office vacancies in Brisbane, Perth, Canberra, Adelaide and Darwin are more than double that of Sydney,” Morrison said. 
The report also shows that Sydney, Brisbane and Adelaide will all have above average increases in new office stock over the next year.
Other highlights include: 
• Vacancy rates falling in 13 of the 17 Non-CBD markets tracked
• Vacancy rates increasing in Adelaide CBD (14.1 per cent up from 13.5 per cent), Perth CBD (19.2 per cent up from 16.6 per cent) and Darwin CBD (20.7 per cent up from 10.9 per cent)
<ul>
<li>An additional 394,243 sqm in office space was added over the last six months – 25 per cent higher than the historic average </li>
</ul>
 “The latest figures from the Property Council of Australia highlight the two-tier nature of Australia’s office markets nationally as a new year swings into action,” commented Simon Hunt, managing director- office leasing at Colliers International.
“In 2016, tenant appetite for Australian office space will continue to diverge between the high demand cities of Sydney and Melbourne and the country’s remaining major cities.”
The non-CBD markets were holding up well too with 13 out of 17 reporting falls in vacancy rates and 11 out of 17 markets reporting lower vacancy rates than the Australia wide non-CBD rate.
Perth saw the first positive net absorption (42,387sqm) after three years of negative demand. This helped to offset the large spike of an additional 113,463 sqm of new office stock that was added to the market over the past six months. 
Sydney continues to have the lowest vacancies and strongest demand of all cities. As well, it has a strong pipeline of new stock with 243,126 sqm expected in 2016. 
The fall in Hobart’s vacancy rate is occurring at the same time as major regulatory changes are taking place. These include the passage of the Tasmanian Planning Scheme and proposed changes to the Building Act amendments. 
Brisbane’s vacancy rate remained steady. The city is expecting an additional 192,281sqm in office space to come online during 2016. Brisbane is facing near record levels of new supply over the next year, which will continue to put pressure on this market. 
Melbourne’s vacancy rate fell to 7.7 per cent – second only to Sydney – off the back of strong demand. With 71,768sqm of new supply to come on board over the next year and none forecast for 2017, this market can be expected to remain tight. 
Adelaide continues to suffer from negative demand with CBD vacancies reaching as high as 20.6 per cent for D grade property. 
Canberra’s vacancy rate fell from 15.3 per cent to 14.9 per cent. While the improvement is welcome, the city continues to have one of the highest vacancy rates in the nation. The prevalence of older buildings throughout the city has seen vacancy rates hit 30 per cent for D grade properties. 
Darwin reported the worst result in the nation with vacancies increasing from 10.9 per cent to 20.7 per cent. This was the result of an economic convergence of increasing supply and lower demand. The city reported the highest supply rate increase in Australia at the same time as it was experiencing the lowest demand growth.
</body></html>

prateek24-ezbwHMbNAk

Modest rise in national office vacancy, but demand soars in Sydney, Melbourne: PCA report

<html><body>
Non-residential and residential building approvals fell over the last six months in NSW, says the Urban Taskforce citing Australian Bureau of Statistics data.
“In a worrying sign that the property market is slowing down the latest ABS approval numbers continue a fall from June 2015,” said Urban Taskforce CEO Chris Johnson. 
In the high density apartment market, approvals in December 2015 dropped to 3,060 from a high of 3,338 approvals in June 2015 on trend numbers. 
This could be a settling down to more normal production or point to less confidence in the market through a tightening of bank loans, said Johnson.
“While the state’s performance is well above the 10-year average the continual slow down means the government must be careful with any changes that affect the industry. We are concerned that statements about value capture levies along with a less focussed local government sector due to amalgamations could lead to further drops in production,” he said.
“Even at the June high point NSW was not producing sufficient housing for the increased population particularly when many approvals do not proceed to housing production.” 
According to the NSW Department of Infrastructure and Regional Development website, land value capture or uplift involves governments levying a proportion of the increase in the unimproved capital value of private land due to public sector transport infrastructure investments. 
The various forms of value capture range from property taxes, parking levies and voluntary planning agreements.
The non-residential building approvals — measured by value — have also slowed over the last six months with NSW now behind Victoria and Queensland despite these states being smaller. 
Non-residential building approvals in Victoria were $833,198,000 in December 2015 compared to Queensland at $692,603,000 and NSW at $691,569,000.” 
“While the NSW economy is generally in good shape the role of building production needs to be carefully supported to ensure it remains robust,” said Johnson.
He suggested that the Greater Sydney Commission take a more proactive role with approvals of major projects during the transition process to ensure housing supply continues at a strong level.
<a href="/images/2016/02/04/Screen%20Shot%202016-02-04%20at%2010.21.07%20AM.png" target="_blank">Click to enlarge</a>
<img src="/images/2016/02/04/Screen%20Shot%202016-02-04%20at%2010.21.07%20AM.png" alt="">
</body></html>

NSW building approvals slowing down: Urban Taskforce 

<html><body><div class="page" title="Page 1">
<div class="layoutArea">
<div class="column">
Canberra’s commercial property sector is expected to attract an increasing level of offshore attention from investors in 2016.
<div>According to Knight Frank’s Associate Director, Institutional Sales, Canberra, Nic Purdue, there are numerous signs that point to a stronger market and more diversified attention on the capital city this year.</div>
<div> </div>
<div>“Recent positive economic signs in Canberra are expected to help underlying market fundamentals," he said.</div>
<div> </div>
<div>"This includes a far more stable vacancy rate, stable incentives and forecast rental growth – all signs that the Canberra commercial market has reached the lowest end of its cycle.” </div>
<div> </div>
<div>Nic said that investors from Asia are looking increasingly towards the Canberra market due to its secure, long-term government tenants. </div>
<div> </div>
<div>“The current wave of Asian capital is looking to diversify away from Australia’s core markets and into higher-yielding regions, such as Canberra.</div>
<div> </div>
<div>“With some volatility in global markets, Canberra is increasingly being considered as a safe haven within the context of the wider Australian market place.</div>
<div> </div>
<div>"Australia remains attractive for offshore investors who are drawn by the low Australian dollar, cost-effective borrowing and government stability and should the global volatility continue there will be a case for the RBA to keep rates on hold, adding to the attractiveness of Canberra as a market."</div>
<div> </div>
<div>“We are already receiving increased interest from Asian countries including Korea, Singapore and Malaysia.</div>
<div> </div>
<div>"In December 2015 Korea’s FG Asset Management purchased the Louisa Lawson Building for approx. $225 million and we anticipate that this significant transaction will lead to more interest from these groups in 2016.” </div>
<div> </div>
<div>Mr Purdue said that Canberra hasn’t yet seen the influx of Chinese investors in the commercial market, although the residential market has seen plenty of interest. </div>
<div> </div>
<div>“Canberra’s commercial sector hasn’t yet seen the levels of demand from Chinese investors that other capital cities have seen, but that could also change.” </div>
<div> </div>
<div>According to Nic, hotel buyers from Asia are seriously considering Canberra at the moment and actively seeking opportunities.</div>
<div> </div>
<div>“In addition to interest in the commercial office sector, we have recently received several enquiries for hotels in Canberra on behalf of Asian hotel groups," he said.</div>
<div> </div>
<div>"We expect this interest to continue.”</div>
<div> </div>
<div>A final factor that may have a positive impact on the flow of Asian investment into Canberra, according to Nic, is the potential upcoming announcement by Singapore Airlines that they may look at initiating direct flights between Canberra and Asia. </div>
<div> </div>
<div>“As reported in the media over the past week, if Singapore Airlines does create a direct flight route between Canberra and Asia, this will continue to build the case as an investment destination for Asian investors,” he concluded.</div>
</div>
</div>
</div></body></html>

jrobinson-rf4aSBido9

Asian investors size up Canberra office market

<html><body>
The Australian Bureau of Statistics (ABS) released building approvals data for December 2015 which have been analysed here by CoreLogic RP Data research analyst Cameron Kusher.
The results tend to be somewhat volatile on a month-to-month basis, largely due to the more ‘lumpy’ unit approvals. 
Following a -12.4% monthly fall in dwelling approvals in November, approvals rose by 9.2% to 18,868 approvals in December 2015.
<a href="/images/2016/02/03/Screen%20Shot%202016-02-03%20at%201.47.54%20pm.png" target="_blank">Click here to enlarge</a>
<img src="/images/2016/02/03/Screen%20Shot%202016-02-03%20at%201.47.54%20pm.png" alt="" width="515" height="163">
The 18,868 dwelling approvals in December 2015 consisted of 9,968 house approvals and 8,899 unit approvals. 
Both house and unit approvals recorded a large jump in December, up 5.7% and 13.5% respectively. 
Year-on-year, house approvals are 3.4% higher while unit approvals are -8.3% lower resulting in a -2.5% fall in total dwelling approvals. 
Despite the year-on-year fall in approvals they remain at close to record high levels although they are -8.7% lower than their recent record high recorded in June 2015.
<a href="/images/2016/02/03/Screen%20Shot%202016-02-03%20at%201.49.19%20pm.png" target="_blank">Click here to enlarge</a>
<img src="/images/2016/02/03/Screen%20Shot%202016-02-03%20at%201.49.19%20pm.png" alt="" width="501" height="181">
Looking specifically at the types of units being approved over the 2015 calendar year, 27.0% were townhouses, a record-low 8.7% were low-rise units (less than four storeys) and 64.3% were high-rise units (four storeys or higher). 
The above chart highlights the rising prevalence of high-rise approvals over the past few years, largely at the expense of townhouses. 
Of course this is reflective of the large volume of in-fill development taking place, particularly in inner-city areas. 
From a developer’s perspective the returns are much higher building to high-densities than there are constructing medium density properties such as townhouses. 
More recently the chart shows that there has been a slight easing of high-rise unit approvals however, developers are still overwhelmingly seeking more high-rise approvals than approvals for low-rise or townhouses.
<a href="/images/2016/02/03/Screen%20Shot%202016-02-03%20at%201.49.29%20pm.png" target="_blank">Click here to enlarge</a>
<img src="/images/2016/02/03/Screen%20Shot%202016-02-03%20at%201.49.29%20pm.png" alt="" width="455" height="169">
<a href="/images/2016/02/03/Screen%20Shot%202016-02-03%20at%201.49.41%20pm.png" target="_blank">Click here to enlarge</a>
<a href="/images/2016/02/03/Screen%20Shot%202016-02-03%20at%201.49.41%20pm.png" target="_blank"><img src="/images/2016/02/03/Screen%20Shot%202016-02-03%20at%201.49.41%20pm.png" alt="" width="444" height="163"></a>
The above two charts show the six month average number of house approvals across each of the capital cities. 
The charts show that in most cities the number of house approvals have recently started to trend lower. 
In particular this downwards trend is now most prevalent in Perth, Darwin and Canberra. 
Despite the recent downwards trend in approvals, they remain well above average levels in Sydney and Perth, are at about average levels in Melbourne, Adelaide and Hobart and Darwin and are well below average in Brisbane and Canberra.
<a href="/images/2016/02/03/Screen%20Shot%202016-02-03%20at%201.49.46%20pm.png" target="_blank">Click here to enlarge</a>
<a href="/images/2016/02/03/Screen%20Shot%202016-02-03%20at%201.49.46%20pm.png" target="_blank"><img src="/images/2016/02/03/Screen%20Shot%202016-02-03%20at%201.49.46%20pm.png" alt="" width="477" height="175"></a>
<a href="/images/2016/02/03/Screen%20Shot%202016-02-03%20at%201.49.51%20pm.png" target="_blank">Click here to enlarge</a>
<a href="/images/2016/02/03/Screen%20Shot%202016-02-03%20at%201.49.51%20pm.png" target="_blank"><img src="/images/2016/02/03/Screen%20Shot%202016-02-03%20at%201.49.51%20pm.png" alt="" width="472" height="176"></a>
 
Unit approvals have also generally started to trend lower over recent months however, the notable exception is Sydney where they are still increasing. 
Despite the recent slowdown of unit approvals they have been at record highs in Sydney, Melbourne and Brisbane and remain at extremely high levels. 
The challenge now will be to see how many of these recent approvals end up constructed. 
With sales volumes slowing, offshore demand reportedly slowing, investor activity reducing, value growth slowing and concerns of an oversupply in certain areas it will be interesting to see how many of these projects go ahead.
We anticipate that despite the month-to-month volatility in the data, building approvals will most likely trend lower through 2016. 
This will be driven in large by the market due to an expectation of slowing value growth and sales volumes. 
Furthermore, many are concerned about oversupply in certain markets and developers may find it harder to achieve their pre-commitment targets, particularly for units. 
The recent slowdown in investment lending will also impact units more than houses with the last Census showing that units are more than twice as likely to be rented as houses are. 
The fact that rental yields have pushed to record lows and rents are unchanged over the year is also likely to act as a further deterrent for buyers of new off-the-plan property.
While the trend in dwelling approvals appears to have peaked, there are still a large number of projects that are either under construction are due to start construction, which implies building activity probably has some way to go before we see a similar easing trend that is visible with approvals.
 
</body></html>

po-LsXgBTHBmX

Dwelling approvals remain below peak despite December rise

<html><body>
Skincare brand Origani is the newest entrant on Melbourne’s Swanston Street shopping strip.
The beauty giant has signed a seven-year lease for its first street store in the Melbourne CBD. 
The store at 191 Swanston Street will be spread over 56 square metre at an annual rental of $4,303 per sqm.
CBRE’s Zelman Ainsworth and Samantha Hunt brokered the off-market deal for Erdi Group.
Ainsworth said the deal was evidence of strengthening demand from international retailers looking to acquire street stores in the Melbourne CBD over shopping centre outlets.
“While shopping centres have traditionally been Origani’s preferred target location, on the back of unmatched traffic and retail spend in the Melbourne CBD, the retailer was eager to secure a presence in the sought after hub,” Ainsworth said.
</body></html>

Origani scoops beauty spot in Melbourne CBD shopping hub 

<html><body>
A mixed-use development site at Cremorne (Richmond) in Melbourne’s inner eastern suburbs is up for auction on February 19.
It is expected to fetch more than $2 million.
Located at <a href="https://www.commercialrealestate.com.au/property/24-26-cubitt-street-richmond-vic-3121-2012536208" target="_blank">24-26 Cubitt Street</a>, the 365 square metre site will be sold with a planning permit for the development of a five-level building comprising a commercial office space and two apartments.
Cremorne is in the south-western corner of Richmond and adjacent to Melbourne’s premier sporting facilities and parklands, including the Rod Laver Arena, the MCG and the Royal Botanic Gardens, and abuts the Monash Freeway and the Yarra River.
According to marketing agent, Teska Carsons’ Matthew Feld, the property is ideally suited to the permitted development given its location and the success of similar projects within the vicinity.
“This is a well located site so close to every possible amenity in one of Melbourne’s most vibrant inner suburbs and within easy commuting distance to the CBD,” said Feld.
The site is zoned Commercial 2 under the City of Yarra Planning Scheme. The property will be sold with vacant possession.
</body></html>

Melbourne’s Richmond site with mixed-use permit up for auction

<html><body>
Invested in residential property, but a little frustrated with a 'steady' 3-4 percent return?
It might be time to consider the time-tested strategy of diversifying your portfolio and invest in commercial property.
As the heat comes out of the housing market, particularly in Sydney and Melbourne, and expectations of continued softness in the January Core Logic RP Data home price indexes, investors could make a beeline for commercial property.
The search for better yields by investors could benefit commercial property and infrastructure, says AMP Capital chief economist Shane Oliver in its latest weekly update.
Reinforcing the view is the outlook that cash and bank deposits are likely to provide poor returns, with term deposit rates running around 2.5% and the central bank expected to cut the cash rate to 1.75%.
Raine &amp; Horne Commercial’s executive chairman Angus Raine noted late last year that, “low cash rates were helping the smart money find its way into commercial real estate”.
A Commonwealth Bank report said late last year that Australian commercial property sales was set to break the $20 billion benchmark for a third year in a row.
Here are a few reasons why it might be more bang for your buck.
First and foremost, the prospect of higher returns.
Capital city rental rates recorded their slowest annual rate of growth (0.3%) in the 12 months to November, latest Corelogic RP data shows. Growth rental yields also fell to 3.5%, the data showed.
For commercial property, 8% to 12% gross rental yields are not uncommon, according to a blog post on www.realestate.com.au.
Commercial property also offers more options such as office space, industrial, retail, hotels, rural and agribusiness, healthcare and retirement living, meaning it can fit in with most investor needs and risk appetites.
Commercial properties also score on tenancy periods, with contracts typically between three to 10 years, translating to a stable income stream and also less risk of defaulting tenants. For residential property, a lease agreement could be as short as six months and if not renewed, it means the search for new tenants again.
Also, commercial tenants usually pay all the outgoings for you, unlike a residential property, where the landlord is liable for paying council and water rates, maintenance etc.
Square metre for square metre, commercial real estate is often cheaper than residential property but because you’re buying more square metres per property, commercial is usually dearer in real terms. 
On the flip side, vacancy rates are generally higher for commercial, sometimes months or years before a retail space or office is taken up by tenants unlike a house or unit, which typically rent out within weeks. 
Economic fluctuations also impact commercial properties more as businesses rise and fall, hurting demand.
As with any investing, buying commercial property calls for thorough research, best summed up by hotspotting.com.au founder Terry Ryder. 
"Research is the foundation of all successful investment strategies. It takes time and if you don’t have the time, you need to be willing to spend money buying good research."
“We’re seeing plenty of activity in industrial and retail markets priced below $5 million, with assets priced between $1 million and $3 million very popular with yield hungry, self-managed super funds,” said Angus Raine, executive chairman, Raine &amp; Horne Commercial said recently.
“Low cash rates are also helping the smart money find its way into commercial real estate, which is producing some good sales results for vendors.”
</body></html>

Commercial Property 101: Not happy with residential property returns? Try commercial property 

<html><body><div class="story-intro">
The American burger franchise Carl's Jr has opened it's first Australian store on the NSW Central Coast.
The controversial burger chain, known for for their raunchy TV ads, has huge expansion plans for Australia, targeting 300 restaurant sites in the next 10 to 15 years.
Carls Jr, which already has food joints in 30 countries is positioned next to McDonald's in the Bateau Bay area.
Carl Jr's created its own publicity stunt - offering a year's supply of free burgers to the first 50 people through the door of their grand opening, with a burger fan lining up since Sunday night for his share.
Carl's Jr are already <a href="https://www.propertyobserver.com.au/https://www.seekcommercial.com.au/business-listing/carls-jr-franchising-australia-global-leaders-in-restaurant-franchising/179823" target="_blank">advertising the opportunity to potential franchises</a> as they look to continue their expansion.
The Bateau Bay store's franchisee Lindsey Brennan owns 18 liquor stores across the region and has a licence for 10 new Carl's Jr restaurants across the central and northern New South Wales coasts.
The Carl's Jr TV ads have caused a stir amongst onlookers, with Paris Hilton and Kate Upton having worn next to nothing on the US advertisements.
One of the most recent clips featured model Charlotte McKinney was banned from the 2015 Superbowl.
They haven't looked to clean up the promotion in Australia either.
The Carl's Jr Australia ad was reported to the Advertising Standards Board after being aired on Channel 10 after the Big Bash League during December and January with local model Gemie Howe.
The advertisement will be reviewed at the next ASB board meeting.
The 300 planned restaurants will take a sizeable chunk of the burger monopoly across Australia.
Australia has been a highly successful franchise step for burger joints, with McDonalds opening their first restaurant in Yangoona in 1971.
They now have 900 stores across Australia.
Hungry Jacks have 390 and the supposed healthier burger choice Grill'd has 122 locations, however founder Simon Moore targeted another 200 across Australia in 2014.
Among new entrants to the market are​ Mary's, Chur Burger Express, Burger Project, Burger Edge, Burger Shed, Ribs &amp; Burgers, Burger Bro? and Melbourne's Brother Burgers. 
Director of retail listing at Frank Knight Alex Alamsyah recently told Fairfax Media it is unlikely to see Carl's on pricey prime streets in Sydney's CBD.
"Global burger chains like Carl's Jr, and Johnny Rockets from America and MOS burger from Japan are looking at prime streets in Sydney's CBD, but appear reluctant to make a move, as rental in prime George Street could hit $5000 per sqm per annum."
Carolyn Cummins of the Sydney Morning Herald noted that McDonalds is paying roughly $1.25 million a year for their 250 sqm spot in central Sydney and Hungry Jacks's is paying $1.65 million a year for the whole building at 640 George Street. 
Franchisee Lindsey will hope Carl's Jr doesn't follow in the footsteps of Urban Burger. Two of their three outlets were sold off in Melbourne's Balaclava and Middle Park in 2014. 
Ned Lyerly, Carl's Jr president of international doesn't have that concern.
"We've done extensive research ourselves," said Lyerly.
"It's a $16 billion market today and will continue to grow, so I think the market itself is large enough to sustain that sort of operation"
"We compete favourably with all [quick service restaurants]... and believe with the right partners, that those numbers are meetable."
Chief executive Andy Puzder told The Australian Financial Review in 2013 that their success in New Zealand energised the interest in Australia and they want to take advantage of that.
They already have eight shops in New Zealand and plan to open another 50.
 
</div></body></html>

American burger joint Carl's Jr opens on NSW Central Coast

<html><body>
A 19th century building in Melbourne’s Surry Hills has two new corporate tenants.
The corner building at 613 Canterbury Road, Surrey Hills (above) will house Melbourne start-up and financial services provider Selfwealth, and 51 Pay.
Selfwealth will occupy 330 square metres on level 1, while 51 Pay will move into level 2, also 330 sqm. 
Both have rented the spaces at $250 per sqm with $50 per sqm on outgoings. Car spaces are leased at $120 per space per month.
Fitzroys agents Martin Huang and Michael Ryan negotiated the deals in the three-level building.
The building was constructed in 1888 as the Surrey Family Hotel, “Surrey Lodge”, and was closed by a poll in 1920. It was renovated in 1939 and made into shops and a guest house, which was followed by another makeover in the 1990s.
 
</body></html>

New tenants for historic building in Melbourne’s Surrey Hills

<html><body>
A milk bar with a three-bedroom house at the rear in Melbourne’s Springvale sold recently for $540,000.
According to selling agent Leyton Real Estate, the milk bar on <a href="https://www.realcommercial.com.au/property-retail-vic-springvale-501789442" target="_blank">68 View Road</a> was the perfect way to enter the Springdale commercial property market.
<img src="/images/2016/02/03/Screen%20Shot%202016-02-03%20at%203.30.48%20PM.png" alt="">
The corner property is in an area classified Business Zone 1.
It last sold in mid-2014 at $403,888 and in 1988 at $250,000.
<img src="/images/2016/02/03/Screen%20Shot%202016-02-03%20at%203.30.43%20PM.png" alt="">
The rent is $16,500 including GST with an annual increase of 4 percent per annum.
The land area is 210 square metre with a floor area of 70 sqm.
The property is on a three-year lease which started in 2014 and has options for renewals.
<img src="/images/2016/02/03/Screen%20Shot%202016-02-03%20at%203.30.54%20PM.png" alt="">
The dwelling at the rear comprises a kitchenette, separate bathroom and secured car space with rear entry.
</body></html>

Latest Investing Insights

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

Editor's Picks

Developments

New apartments

New townhouses

News

Latest Investing Insights

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

Editor's Picks

Receive the latest news stories to your inbox

Developments

New apartments

New townhouses

News