<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 retail property in the Hastings Street tourist strip at Noosa Heads on the Sunshine Coast with clothing retailer Noosa Beach Club as a long-term tenant has fetched $1.95 million at auction.
The 43 square metre site at <a href="https://www.realcommercial.com.au/property-retail-qld-noosa+heads-501731890" target="_blank">7/41 Hastings Street</a> was sold to a local investor for a yield of 7.1%.
The deal was through Ray White Commercial Noosa &amp; Sunshine Coast North’s David Brinkley and Paul Butler. 
The property is returning a net rental of $140,000 per annum and the tenant has a lease until November 2020 with a five-year option, said Brinkley.
Butler said Noosa Beach Club has traded in Hastings Street for the past eight years and recently signed a new five-year lease.
Noosa Beach Club Clothing was established in 1989 at Lorne in Victoria and offers casual wear for women. The operator has 14 stores stretching from coastal Victoria to Noosa. 
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j.ballantyne1990-6AQqhLzZaK

Hastings Street, Noosa retail investment fetches $1.95 million

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The former Hugo’s Pizza Bar and Lounge in Sydney's Potts Point has sold separately for $1.685 million and $2.65 million respectively at auction to local investors.
Located at <a href="https://www.realcommercial.com.au/property-retail-nsw-potts+point-501747730" target="_blank">33 Bayswater Road</a>, the two lots comprised the former Hugo’s Pizza Bar and the former Hugo’s Lounge,
Both sold with vacant possession.
The Pizza Bar, which fetched $1.685 million, was situated on the ground floor and consisted of four strata lots, spread over nearly 159 square metres.
Both lots were sold via public auction on Tuesday on behalf of Properties King Cross Pty Ltd through Robert Lowe of Savills International Sydney. 
The Hugo’s Lounge night club, which sold for $2.65 million, was on the first floor area and consisted of four strata lots spread over nearly 732 square metres, plus two car spaces.
The strong bidding meant both properties exceeded their reserve prices.
“This was an outstanding opportunity for potential owner occupiers, investors, or developers to either reuse the space as a restaurant, night club, or other retail or, commercial uses," said Lowe. 
There is the option to potentially reconfigure the first floor area into commercial or residential use, subject to Council Approval, he said.
“Potts Point has changed considerably over the years with older style buildings being converted into upmarket residential apartments and the perfect positioning of this property would make it an ideal redevelopment project,” Lowe said.
Hugo's Lounge closed blaming the lockout laws that came after alcohol-related violence in Kings Cross.
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Closed Hugo's Potts Point Pizzeria lounge and bar sold through Savills

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A steady stream of private Melbourne investors have snapped up some of Queensland’s prime retail investment properties this year, attracted by the state’s solid growth fundamentals, according to real estate firm MMJ Melbourne.
Director of MMJ Melbourne, Joel Wald, said there was heightened interest from Melbourne’s private investors looking for properties close to Queenland’s CBD areas.
A private Melbourne investor recently bought a property at 66 Dalton Drive, Maroochydore for $6.84 million. The property was designed and constructed for Officeworks as a relocation to an area earmarked as a new CBD.
The sale was through MMJ Melbourne.
Earlier in the year, MMJ Melbourne also sold 130­134 Gympie Road, Strathpine, Queensland to another private Melbourne investor for $11.5 million. Tenants included Officeworks, Flip Out, a medical centre and pharmacy.
Private investors have also snapped up a Bunnings Springfield warehouse for $40 million(above), and another Officeworks at 176 Ipswich Road, Woolloongabba.
“These are significant properties, and Melbourne investors clearly like the confidence that Queensland is proposing for retail investment at the moment. The vote of confidence investors see from big companies, like Officeworks, committing to these areas further reinforces this,” said Wald.
One of the key fundamentals is Queensland’s growing population. It was estimated at 4,722,450 persons in June-end 2014 , a rise of 70,540 from June 2013. This was the third largest population increase of any Australian state or territory over this period after New South Wales and Victoria.
“Obviously, population growth is one of the key fundamentals of retail investing, and at the moment, for Queensland, this is its strongest selling point,” said Wald.
The just released NAB Quarterly Australian Commercial Property Survey Q3 2015 said that while overall sentiment has moderated a little, it still remains at elevated levels. The survey suggests capital growth for the next 1­2 years will be strongest for office property, followed by industrial and retail.
Positive rental returns are also forecast in all sectors in the next 1­2 years, led by big upward revision in expectations for office rents (especially Victoria).
“All in all, we’re seeing very solid commercial property prospects across the board as we close out this year and enter into the next.
"Given this, I expect to continue to see strong demand from my clients in Melbourne to the sunny state as we enter 2016”, said Wald.
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Melbourne investors lured to Queensland by retail investment opportunities: MMJ Melbourne

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Adelaide-based Harmony Property Syndication has paid $10.75 million on a yield of 7.1% for an industrial property at Hallam in Melbourne’s southeast.
The <a href="https://www.realcommercial.com.au/property-industrial+warehouse-vic-hallam-501611261" target="_blank">1-5 Siddons Way</a> property was sold subject to a long-term lease, expiring in 2026, to national tenant Pakcentre Marketing Services, at a current rental of $765,920 per annum net.
It comprises a 9,574 square metre office and warehouse, with nine metres clearance and canopied loading docks, on a 15,300 square metre allotment.
The sale was through Savills Australia's Chris Jones and Ben Hegerty.
Jones said the price reflected the tightly held market and the lack of stock in the price range.
Hegerty said the property attracted a high level of enquiry from local, interstate and off-shore investors looking for attractive yields, secure lease profiles, prime locations and potential
upside. He said the demand continued to put yields under pressure with many recent sales pushing the 7 percent barrier.
The vendor was a private group of interstate investors.
Established in 2003, Harmony specialises in establishing and managing commercial real estate syndicates on behalf of investors. Harmony currently has 21 separate property investment syndicates with a combined value of more than $260 million of funds under management.
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Adelaide syndicate pays $10.75 million for Hallam property through Savills

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Savvy homeowners in Melbourne’s eastern suburbs are banding together to combine properties, as they look to capitalise on demand for residential development opportunities.
One such example was the sale of adjacent properties <a href="https://www.realcommercial.com.au/property-land+development-vic-glen+iris-501712345" target="_blank">1455 High Street and 2a Scott Grove,</a> Glen Iris for $6,637,000.
The properties over a combined area of 1,644 square metres were sold to a local developer.
The campaign was handled by CBRE’s Julian White at a rate of $4,000 per square metre.
“We are witnessing an increasing acceptance of apartment living in suburban markets, particularly in prestigious suburbs such as Glen Iris, where medium house prices of $2 million plus inhibit freestanding home ownership," Julian White said.
He added that developer confidence in the pre-sale apartment market was another driver, as apartment sites in the eastern suburbs become harder to secure and planning permits more difficult to obtain.
“To capitalise on developer demand, group selling is becoming increasingly popular, as homeowners look to partner with neighbours to sell their homes for significantly higher returns than can be achieved by selling sites individually,” White said.
“Both the properties in this instance were purchased less than 18 months ago, with the vendors making big margins of around 100% from what they paid.”
Another major factor impacting the eastern suburban market is the arrival of Chinese developers. 
“Many offshore developers are familiar with the eastern suburbs market through family living in Australia. Suburbs such as Glen Iris, Kew and Canterbury are highly regarded by many locally based Chinese families, therefore when an offshore Chinese buyer is looking to acquire a site, these areas are high on their preference list.
“Whilst 1455 High Street &amp; 2a Scott Grove was acquired by a local developer, the majority of bids received were from offshore Asian groups.”
The Glen Iris sale follows recent group selling deals at South Yarra, Cheltenham and Camberwell.
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Glen Iris owners band together for $6.637 million Melbourne sale

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The Adelaide industrial sector has spent 2015 going through a period of consolidation, says Herron Todd White.
The valuation firm said the industrial sector continues to be impacted by a generally weak local economy and reduced activity within the manufacturing sector, in particular the planned 2017 closure of the General Motors Holden plant.
In December 2014 the state government announced grants to assist automotive components manufacturers who were previously dependent on the car manufacturing industry to diversify alternate industries such as defence, the HTW month in review highlights.
The report goes on to note that this did not slow the short term impact of transition, with the SA unemployment rate increasing .06% to 8.2% from May to July.  
Despite the percentage falling to 7.7% in September, the HTW review showed South Australia to have the highest state unemployment rate ahead of Queensland whose is 6.3%.
By September 2015 this had reduced slightly to 7.7% but South Australia remains the highest State or Territory in the country with Queensland the second highest at 6.3%.
The November review also highlights that adding to the lack of confidence in the SA economy there has been continued debate over the construction of the Australian defence force submarines, which in early 2015 Prime Minister Tony Abbott had outsourced the $50 billion contract to manufacturers from either Japan, France or Germany.
"Submarines have previously been constructed by the Australian Submarine Corporation (ASC) within its $120 million facility in Osborne."
"In September 2015 the Government confirmed that all three potential offshore manufacturers would include local construction in satisfying the contract."
The report added that the detail remains unclear and the evaluation process for the tender is not expected to conclude until the end of 2015.
It also mentions that in light of the above economic climate, industrial sales activity has continued to be subdued with the most activity occurring within the $3 million to sub $5 million markets which are dominated by owner- occupiers and private investors.
"There are reports that institutional investors are continuing to show interest in Super Prime asset classes within South Australia due to the higher than national average returns on offer, however this is not yet translating into a shift in market sentiment in the lower sub markets."
The report concludes by suggesting that in general investment activity has been weak with prime rents and values either reducing or holding.
"A falling construction rate has meant a limit in the availability of prime asset classes and reduced rental returns makes the construction of new buildings less viable.
"The impact has therefore seen a continued divide between prime and secondary stock which may be facing obsolescence issues in the current market."
Going against this trend however is the supermarket company Aldi which is due to open its’ first stores in early 2016.
The Regency Park distribution centre is nearing completion which began construction in late 2014 comprising nearly 33,000 square metres of office warehouse accommodation at a reported cost of $70 million. 
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Adelaide industrial sector consolidates: HTW

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A classically designed Victorian-era freehold building in Melbourne's CBD is going under the CBRE hammer on December 10.
The five-level freestanding building at <a href="https://www.realcommercial.com.au/property-retail-vic-melbourne-501767410" target="_blank">8 Drewery Place</a> formerly housed Sniders and Abrahams cigar manufacturing factory dating back to 1890.
This part of Melbourne saw a concentration of tobacco-oriented firms that established large factories and warehouses in the late Victorian-era and Edwardian period.
The 490 Flinders Street property fetched $4.1 million, about $1 million above the reserve price and for a yield of 2.33%.
About 8 Drewery Place, Rutman said it is one of the only properties of its kind in the street, with most others having already been converted to residential apartments.
“The building has been owned within the same family for a generation and provides a very exciting investment prospect as well as genuine potential to convert, subdivide or redevelop in the future,” Rutman said.
The building is expected to go in the range of $15 million.
The property is located just behind Swanston Street and is wedged within what is fast becoming known as the “Golden Triangle” of city retail – between Melbourne Central, Emporium and the QV Complex.
The name of the lane was changed in 1872 from Brewery to Drewery Lane. According to the City of Melbourne Planning Scheme, it was named after the chemist Thomas Drewery, who was elected a City Councillor for Gipps Ward in 1851.
According to historian Weston Bate, however, it was named after London's Drury Lane.
Today, the ornate building houses a range of retail and office tenants and has seen a dramatic increase in pedestrian activity as the CBD has grown its permanent residential, student and tourist populations. It sits directly adjacent to an entry point into Melbourne Central Shopping Centre which also drives pedestrian flow and retail activity in the laneway.
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Historic Melbourne CBD building listed for sale

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Cromwell Property Group has agreed terms for the sale of an office tower at 100 Waymouth Street in Adelaide for $73 million.
The sale price represents a premium of 17.6% over the book value of $62.1 million, a yield of 6.775% and a capital value of approximately $6,000 per square metre, reflecting continued strong investor demand for commercial office stock in major capital cities.
Cromwell CEO Paul Weightman said the company would continue to look to take advantage of market conditions to improve its $2.1 billion portfolio of direct property assets.
The property has <a href="https://www.cromwell.com.au/property-portfolio/south-australia/289/100-waymouth-street" target="_blank">12,305 square metres of net lettable area</a>, is fully tenanted and has a Weighted Average Lease Expiry (WALE) of 8.1 years.
It comprises a ground floor and 12 upper levels of office accommodation.
The building was commissioned in 1989 as the headquarters for the South Australian Workcover Corporation, which occupied it until June 2012.
The tower has since undergone a full refurbishment, achieving a PCA A-Grade rating. Cromwell acquired it in April 2003.
Origin Energy solely occupies the commercial floors with Beyond Bank occupying the ground floor retail space.
The property is close to public transport, retail, restaurants and cafes.
The sale is expected to settle on December 10.
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Adelaide commercial tower sells for $73 million

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Eight properties in Canberra belonging to betting company Tabcorp have sold at auction for a total value of $6,171,500.
The selling agents were JLL’s Michael Heather and Greg Lyons and the auction was on November 26.
Three properties were offered with a new initial seven-year lease term to Tabcorp with 2 x 5 year options. The
remaining five properties were sold as vacant possession.
The three leased properties were sold for a price range of $800,000 to $1,120,000 and reflected initial yields of between 4.71% - 5.29%.
The five vacant properties were sold for a price range of $590,000 to $741,500 and reflected sales values from $5,224 - $7,234 per square metre.
“The strong yields achieved for the leased properties exceeded market expectations and is reflective of the yield compression trend that has been experienced in other markets around Australia,” Heather said.
The eight properties were:
20 Brierly Street, Weston sold for $1,120,000. The initial yield reflects 4.78% on a passing net income of $53,491 per annum.
30 Denigan Street, Wanniassa sold for $950,000. The initial yield reflects 5.29% on a passing net income of $50,252 per annum.
99-103 Georgina Crescent, Kaleen sold for $800,000. The initial yield reflects 4.71% on a passing net income of $37,677 per annum.
56 Hawker Place, Hawker sold for $670,000, reflecting a capital value of $5,781 per square metre.
1-3 Primmer Court, Kambah sold for $741,500, a capital value of $7,234 per square metre.
23 Charnwood Place, Charnwood sold for $600,000, or a sales value of $5,545 per square metre.
55 Curtin Place, Curtin sold for $700,000, or a sales value of $5,224 per square metre.
71 Mawson Place, Mawson sold for $590,000, with a capital value of $6,556 per square metre.
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Eight Canberra Tabcorp properties sell at JLL auction for $6,171,500 total 

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Valuation firm Herron Todd White have reported that the small industrial sector in Cairns close to the CBD is showing stronger buyer demand. 
The HTW month in review suggest that though we now perceive the industrial market to be entering a recovery phase, industrial property development remains slow.
"Improved industrial property sales also remain slow at levels well below the 2007 peak with prices steady.
"Commercial agents advise limited availability of good quality stand alone warehouse stock with slow to reasonable demand for this type of premises."
The report also noted that strata titled industrial warehouses are also limited in numbers for both sale and lease with similar limited demand.
It went on to add however that rents have recently begun to claw back some lost ground as the economy has slowly improved.
"The vacant industrial land sale market is especially quiet with limited sales activity.
"The median vacant industrial land price in Cairns peaked at $295 per square metre in 2009 but has been around $200 to $250 per square metre for sales over the past four years.
"Our overall assessment is that industrial land is adequately supplied for foreseeable levels of demand," said the review.
"There is limited quality investment stock available for purchase in the Cairns market.
"This will tend to support values for well leased properties over the short to medium term."
The report concluded by suggesting that the market has been gradually consolidating to the start of recovery stage and the immediate outlook is for further consolidation and improvement in the year ahead.
"A lack of new stock should see availability tighten as we move through the remainder of 2015.
"A recovery in the vacant industrial land market in Cairns will continue to depend on a more widespread recovery in the local economy which appears to be underway."
 
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