Longstanding Gold Coast and Canberra developer <a href="https://www.apartments.com.au/developers/morris-property-group">Morris Property Group</a> is continuing to roll on with its Glitter Strip apartment pipeline, seeking to return to Mermaid Beach with a new 68-apartment development.

Morris, founded by Barry Morris in 1978 and one of the Gold Coast’s most prolific apartment developers over the past two decades, has filed plans for a 12-storey mixed-use building at <a href="https://www.apartments.com.au/new-apartments/36-seabeach-avenue-mermaid-beach-qld-4218">34-36 Seabeach Avenue</a>, on the prized eastern side of the Gold Coast Highway.

The 1,227 sqm site occupies a prominent corner position at Seabeach Avenue and the Gold Coast Highway, opposite the Mermaid Plaza retail and office precinct and around 140 metres walking distance from the future Mermaid Beach South light rail station.

<a href="https://www.apartments.com.au/architects/fraser-partners-0">Fraser &amp; Partners</a> has designed the project, which will comprise 68 apartments across a mix of 48 two-bedroom and 20 three-bedroom residences.

The building will rise 12 storeys, reaching a maximum height of 36 metres, with the apartments accounting for a total of 156 bedrooms. The development application also seeks approval for short-term accommodation across the 68 apartments, while two office tenancies are proposed at ground level.

The plans show 108 car spaces across the development, with parking accommodated at ground level and within a three-level basement accessed from Seabeach Avenue.

<img alt="Seabeach Avenue and the Gold Coast Highway" data-entity-type="file" data-entity-uuid="c2175c99-12fd-4a3c-9be1-89bbf258a90d" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-20%20at%202.59.41%E2%80%AFPM_0.png?VersionId=iNLzWcE6gaAE76rafhEXfHve.4g4Se0p" />

Resident amenity will be concentrated on level two, where Fraser &amp; Partners has designed a recreation deck with a swimming pool, 90 sqm pool terrace, outdoor barbecue area and gym.

The broader communal offering will also incorporate landscaped spaces, with the planning documents noting the amenity has been designed to provide areas for recreation, social interaction and outdoor living.

The proposal would continue the transformation of the Gold Coast Highway corridor through Mermaid Beach ahead of the arrival of the light rail.

The site is zoned Neighbourhood Centre and sits within the Mermaid Beach/Broadbeach Light Rail Corridor neighbourhood plan. While the prescribed building height is 24 metres, the site is identified within an Urban Neighbourhood context providing for a 50 per cent height uplift to 36 metres.

Planning documents describe the stretch of the Gold Coast Highway between Broadbeach and Nobby Beach as increasingly characterised by medium and high-rise development, with the proposed Morris tower joining projects including Ventura, The Alfred, Oceans and Otto.

<img alt="Seabeach Avenue and the Gold Coast Highway" data-entity-type="file" data-entity-uuid="911f193f-e381-4a55-be08-58be87fcf978" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-20%20at%202.59.48%E2%80%AFPM.png?VersionId=oxVvLJaY.SOXEdXrIcogfyEXDfvCmmpM" />

The development would mark Morris Property Group's latest investment in Mermaid Beach, where it has already delivered two apartment projects.

Otto, at 1 Bondi Avenue on the western side of the Gold Coast Highway, comprises 70 apartments across nine storeys. The project was completed in 2019 and includes a residents' gym, recreation deck and swimming pool.

Morris also developed Oceans at 46 Ocean Street, a nine-storey, 70-apartment build-to-rent development completed in 2019. Oceans was the group's first build-to-rent project and incorporates commercial space at ground level.

The two existing Morris projects sit further north along the same Gold Coast Highway corridor as the proposed Seabeach Avenue development. Fraser &amp; Partners' planning analysis specifically identifies both Otto and Oceans among the established built-form precedents surrounding the site.

<img alt="Seabeach Avenue and the Gold Coast Highway" data-entity-type="file" data-entity-uuid="14925119-7b71-4812-8149-340317512c7c" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-20%20at%203.00.15%E2%80%AFPM.png?VersionId=aEJqYuw_nTCjcin17BSD0piB1EFotTlj" />

Mermaid Beach represents only part of Morris' considerable Gold Coast footprint.

The family-owned developer has been particularly active in neighbouring Broadbeach, delivering projects including Sierra Grand, Eclipse, Synergy, Qube, Koko, Opus and Malo, while its current pipeline includes Maison and the two-tower Crest development.

Further south, Morris has also developed a string of projects in Burleigh Heads, including Element, Boardwalk and Sandbar, while Essentia expanded its footprint north into Surfers Paradise.

The Seabeach Avenue application has been lodged by PMM Broadbeach Pty Ltd and seeks a development permit for a Material Change of Use for multiple dwellings, short-term accommodation and office uses. Zone Planning Group prepared the planning application, with Fraser &amp; Partners commissioned as architect.

The project comes as the developer continues to expand its Gold Coast pipeline while retaining a significant presence in Canberra. Morris now has more than $2.5 billion of development in its national pipeline and has delivered more than 7,000 homes during its near five-decade history

Joel Robinson

First look: Morris Property Group returns to Mermaid Beach with new Seabeach Avenue apartment development

<a data-saferedirecturl="https://www.google.com/url?q=https://www.apartments.com.au/developers/fortis&amp;source=gmail&amp;ust=1787272340808000&amp;usg=AOvVaw3hvFB2uWTRfEyEcpTSnnK9" href="https://www.apartments.com.au/developers/fortis" target="_blank">Fortis</a>&nbsp;is continuing its stronghold on Sydn​ey’s eastern suburbs apartment market, launching&nbsp;in September&nbsp;its latest boutique&nbsp;<a data-saferedirecturl="https://www.google.com/url?q=https://www.apartments.com.au/developments/double-bay-nsw-2028&amp;source=gmail&amp;ust=1787272340808000&amp;usg=AOvVaw0GI5S9-wNeiLUnM-d1uYkw" href="https://www.apartments.com.au/developments/double-bay-nsw-2028" target="_blank">Double Bay</a>&nbsp;development,&nbsp;<a data-saferedirecturl="https://www.google.com/url?q=https://www.apartments.com.au/new-apartments/55-william-double-bay-55-william-street-double-bay-nsw-2028&amp;source=gmail&amp;ust=1787272340808000&amp;usg=AOvVaw2YNouJQcFjiTTgVHbgDLA-" href="https://www.apartments.com.au/new-apartments/55-william-double-bay-55-william-street-double-bay-nsw-2028" target="_blank">55 William</a>.

55 William presents&nbsp;just eight north-facing&nbsp;two-bedroom, three-bedroom and full-floor&nbsp;residences to the market, priced from $4.5 million.

The upcoming launch comes just weeks after Fortis secured approval for the $80 million development, its third eastern suburbs approval in two months. Construction is already underway, with completion targeted for 2028.

[smartcode_project:default project_id=152579 project_image_fid=376250]

55 William adds to a growing concentration of Fortis projects in and around Double Bay, a market the developer has become increasingly active in over recent years.

Fortis previously completed the nine-residence Marmont on New South Head Road, while it is currently developing a mixed-use residential and retail project at 12 Cross Street. Its wider Double Bay footprint also extends into commercial and retail development.

The developer's broader Sydney residential pipeline is particularly concentrated across the eastern suburbs, with projects spanning Doub​le Bay, Ro​se Bay, Wo​ollahra, Dar​ling Point, Poi​nt Piper and Eli​zabeth Bay.

[smartcode_project:default project_id=152579 project_image_fid=376253]

At 55 William, Fortis has again turned to MHN Design Union, the architecture practice behind several of its eastern suburbs projects, while London-based 1508 London has been appointed to handle the interiors and Wyer &amp; Co the landscaping.

The six-level building will comprise a combination of two and three-bedroom apartments, including a garden residence, full-floor apartments, a sub-penthouse and penthouse. Each residence will have secure basement parking and private outdoor space.

A rooftop terrace for all residents, along with select apartments, enjoys views across Double Bay Harbour and toward the Sydney skyline.

Ceiling heights will reach up to three metres&nbsp;in select residences, while the kitchens will feature natural stone and integrated Gaggenau appliances.

&nbsp;

&nbsp;

The boutique nature of the project reflects the type of stock Fortis has increasingly targeted across Sydney's eastern suburbs, where larger apartments and smaller buildings are being pitched primarily toward local owner-occupiers and downsizers.

Fortis Group General Manager Ed Eve said the developer continues to see demand from buyers wanting to remain in the eastern suburbs but move into newer, lower-maintenance housing.

“We're seeing continued demand from local owner-occupiers and downsizers looking for high-quality homes that allow them to remain in the eastern suburbs, close to the lifestyle and community they know,” Eve said.

55 William is also one of the early projects to respond directly to the NSW Government's Low and Mid-Rise Housing reforms. Fortis had previously secured approval for just two townhouses on the 599 sqm site before revising the scheme to eight apartments following the planning changes.

Situated one street back from Double Bay's water's edge, the project enjoys an enviable harbourside setting within walking distance of Double Bay Village and the ferry wharf.

[smartcode_project:default project_id=152579 project_image_fid=376252]

Fortis has increasingly made the eastern suburbs a major focus of its Sydney pipeline. Beyond Double Bay, it recently completed the 14-residence Piper in Point Piper and has projects underway or planned across Rose Bay, Woollahra and Darling Point.

The developer recently secured approval for Verano in Rose Bay, a six-level development comprising 21 two, three and four-bedroom apartments, also designed by MHNDU.

55 William&nbsp;is soon to be release to the market with VIP appointments commencing early September,&nbsp;with residences priced from $4.5 million.

[smartcode_project_cta:default project_id=152579]

Fortis continues eastern suburbs push with 55 William launch

UAE-based developer Arada has unveiled plans for a $2 billion twin-tower apartment development in Broadbeach, marking its first move into Queensland as it continues its rapid expansion across Australia.

Arada will develop 952 apartments across two towers on a prominent site opposite the Gold Coast Convention and Exhibition Centre, with the project targeted for completion ahead of the Brisbane 2032 Olympic and Paralympic Games.

The project represents Arada's largest commitment to the Australian market since arriving in the country in 2024 and significantly expands a local pipeline that has now grown to eight projects and more than 5,000 homes.

It will also be the first major Queensland project delivered by Roberts Co since the tier-one contractor was acquired by Arada Group in 2025.

Plus Studio has designed the Broadbeach development, which will comprise one, two and three-bedroom apartments across two towers connected by a landscaped podium.

A significant resident amenity offering will include lagoon and lap pools, a gym, sauna and steam room, alongside a mist room, infrared room and salt scrub facilities. Communal terraces, private dining areas, a library, residents' lounge and work-from-home spaces are also planned. Around 1,200 sqm of retail and hospitality space will occupy the ground floor.

The site puts Arada in one of the Gold Coast's most active apartment markets, directly opposite the convention centre and within walking distance of Pacific Fair, The Star Gold Coast and Broadbeach's dining and retail precinct.

It also has immediate access to the Gold Coast light rail network and sits just a few blocks from the beach.

Arada Group Chief Executive Ahmed Alkhoshaibi said Broadbeach represented an opportunity for the developer to expand beyond its initial NSW pipeline.

“Broadbeach is a world-class address that gives us the canvas to create a community of exceptional design and lifestyle quality that genuinely enriches the daily lives of the people who call it home,” Alkhoshaibi said.

“This is our first development outside New South Wales, and it reflects our growing ambition to grow in key urban markets around the country.”

Alkhoshaibi said bringing Roberts Co into the project would give Arada greater control over the development and construction process.

“Delivering this project through Roberts Co, our own tier-one construction business, means we can bring the quality, pace and accountability that our buyers expect.”

The move into Broadbeach comes as Arada accelerates its Australian expansion following its entry into the market two years ago. The developer has assembled a pipeline of eight projects comprising more than 5,000 homes, while the acquisition of Roberts Co last year gave the group its own Australian construction capability.

Globally, Arada has a development portfolio valued at $50 billion comprising more than 55,000 homes across the UAE, United Kingdom and Australia.

The Gold Coast is emerging as the next major market for the developer, with strong population growth and infrastructure spending ahead of the 2032 Games continuing to underpin significant apartment development across the coastal strip.

Arada plots $2 billion Broadbeach towers in major Queensland move

Sydney’s downsizer market is changing, with a growing cohort of buyers prioritising the right home over simply finding a smaller one.

Coronation Property Head of Sales Cam Porter says the traditional idea of downsizing does not necessarily reflect what many buyers are now looking for, particularly those moving from established family homes across Sydney.

Instead, he says they are increasingly becoming “right-sizers”, seeking lower-maintenance homes without sacrificing the space, amenity or quality they have become accustomed to.

“We are increasingly seeing buyers who are not motivated by the idea of simply moving into a smaller property,” Porter says.

“They are right-sizers. They want a home that is easier to manage and better connected, but they still expect generosity, quality and a floorplan that supports the way they live.”

It is a subtle but important distinction in a market where apartment developers are increasingly targeting established owner-occupiers.

[smartcode_project:default project_id=135149 project_image_fid=377495]

For many of these buyers, moving from a house to an apartment is not driven by a desire to dramatically reduce their living space. Instead, the appeal is in removing some of the maintenance associated with a larger home while retaining generous living areas, storage and enough flexibility to accommodate family and friends.

Coronation’s sales team is seeing buyers place particular importance on natural light, practical storage and additional rooms that can be used as guest bedrooms, home offices or secondary living spaces.

Kitchens and dining areas are also playing an increasingly important role, particularly for buyers who regularly entertain or have children and grandchildren visit.

[smartcode_project:default project_id=135149 project_image_fid=377494]

“These buyers still want their home to feel generous,” Porter says.

“They may want less maintenance, but they are not looking for less life.”

The challenge for the broader housing market is providing enough of the right stock to encourage that move.

While much of the discussion around Sydney’s housing shortage has centred on the number of homes being delivered, Porter says the diversity of those homes is equally important.

Older homeowners can remain in large family houses for longer when they cannot find an appropriate alternative in the neighbourhoods where they have built their lives.

“The decision is rarely as simple as wanting fewer bedrooms,” Porter says.

“People are weighing up their connection to a neighbourhood, the space they need for family, the quality of the home and whether it will continue to work for them over the long term.”

It also has implications beyond the downsizer market. Providing suitable apartments for smaller households can free up established houses for families who need the additional bedrooms and land, creating greater movement through the housing market.

<h2>Lillian targets the next stage of apartment buyer</h2>

It is a buyer Coronation is targeting at <a href="https://www.apartments.com.au/new-apartments/lillian-erskineville-9-metters-street-erskineville-nsw-2043">Lillian</a>, its new collection of apartments, terraces and penthouses at Erskineville Village.

Designed by Silvester Fuller, Lillian has been shaped around larger living spaces, natural light and flexible floorplans, alongside landscaped areas, wellness amenity and communal spaces for residents.

The development will form part of Coronation’s broader Erskineville Village precinct, which will combine new homes with green space, retail, hospitality and new pedestrian connections.

[smartcode_project:default project_id=135149 project_image_fid=377688]

McPherson Park will sit at the centre of the precinct, creating a significant new green space alongside the project’s retail and hospitality offering.

For Porter, the opportunity is to give buyers another housing option without forcing them to leave the part of Sydney they already know.

“People should be able to change the type of home they live in without having to change their entire life,” he says.

“For many buyers, Lillian offers the opportunity to remain connected to the Inner West and the city, while gaining access to a more convenient, walkable and considered way of living.”

[smartcode_project:default project_id=135149 project_image_fid=377687]

Coronation will explore the changing <a href="https://lillianresidences.com.au/news/lillian-x-space-x-downsizers-event-27-august/">right-sizer market at an event on August 27</a>, bringing together experts across property, design and lifestyle.

Held in partnership with SPACE, Poliform and Downsizer.com.au, the event will include a property market outlook from economist Michael Blythe alongside discussion around the considerations facing buyers planning their next move.

Attendees will also be able to learn more about the residences and amenity planned at Lillian Erskineville.

[smartcode_project_cta:default project_id=135149]

From downsizing to right-sizing: What Sydney buyers want from their next home

Family-owned builder and developer <a href="https://www.apartments.com.au/developers/omaya">Omaya</a> is bringing its 27-storey The Maybelle development to market, with the 229-apartment tower rising alongside Ismay Reserve near North Strathfield.

<a href="https://www.apartments.com.au/new-apartments/the-maybelle-21-parramatta-road-homebush-nsw-2140">The Maybelle</a> will comprise one, two and three-bedroom apartments, with its height providing elevated outlooks towards the Sydney skyline and Harbour Bridge, while other residences will look across neighbouring Ismay Reserve.

Designed by <a href="https://www.apartments.com.au/architects/squillace-architects">Squillace Architects</a>, the tower combines its parkside setting with proximity to the established retail, dining and transport amenity around North Strathfield.

[smartcode_project:default project_id=134873 project_image_fid=376196]

Residences will feature open-plan living spaces and a choice of two interior schemes, while communal amenity is spread across two elevated levels of the building.

Level 8 will be home to the Garden Pavilion, a full-floor resident space incorporating communal entertaining and breakout areas, seating and recreation spaces. Further up the tower, a landscaped Sky Terrace on Level 14 will provide another communal area with panoramic views towards the Harbour Bridge and Sydney skyline.

At ground level, the development sits directly alongside Ismay Reserve, where lawns, walking paths, children's play areas, picnic spaces and recreational facilities extend the green space available immediately around the project.

[smartcode_project:default project_id=134873 project_image_fid=376194]

The Maybelle is also within walking distance of North Strathfield and the Bakehouse Quarter, which provides a mix of cafés, restaurants, shops and everyday services.

Existing rail and bus services provide connections across Sydney, while the future North Strathfield Metro and access to the M4 will add to the transport options available around the precinct. Walking and cycling routes also extend via Powells Creek towards Sydney Olympic Park and its sporting, entertainment and parkland precincts.

Families are also well positioned for access to a broad selection of established schools and education options across Strathfield and the surrounding Inner West.

[smartcode_project:default project_id=134873 project_image_fid=376181]

Omaya has operated in Sydney for more than 35 years, managing projects from acquisition and design through to construction and delivery. The family-owned company is both developer and builder of The Maybelle.

Apartments start from $560,000, with the development protected by 10-year Latent Defects Insurance.

Construction is well underway, with completion expected by the end of 2026 and move-in anticipated from Q1 2027.

[smartcode_project_cta:default project_id=134873]

The Maybelle brings 27-storey parkside tower to market near North Strathfield

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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The ACT government has appointed Ray White Commercial to market the Kingston Arts Precinct, an urban renewal project in Canberra’s oldest suburb.
ACT Chief Minister Andrew Barr said the project offered developers the opportunity to transform the four-hectare area around the Canberra Glassworks into a arts and creative hub.
The 40,295 square metre site would include about 22,000 square metres of commercial space, 7,000 square metres of arts amenity, apartments and public space.
A master plan for the Kingston Foreshore was approved last year, and an independent feasibility study into the arts hub came out in June.
Ray White Commercial Canberra director Andrew Smith expects developers - local, national and international - to express interest. 
“The staging of the project will be proposed by developers in their tenders, but the public realm and arts deliverables are expected to be delivered in the first stages,” he said.
Expressions of interest have been sought by early December and the preferred developer is expected to be announced in mid-2016.
“It will be a place where artists, cultural organizations and creative businesses make, teach, exhibit, perform and sell their work,” Barr said.
“The area is already home to leading arts organisations the Canberra Glassworks and Megalo Print Studio + Gallery, and the Old Bus Depot markets.
"We expect others will relocate to the precinct."
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j.ballantyne1990-6AQqhLzZaK

Ray White to market Canberra's Kingston Arts Precinct

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A fully leased 7-Eleven service station and retail complex at Oxenford on the northern Gold Coast has been sold at auction by Ray White Commercial for $8.92 million.
The property at <a href="https://www.realcommercial.com.au/property-retail-qld-oxenford-501694453" target="_blank">141 Maudsland Road</a> attracted 10 registered bidders and was sold to an interstate buyer for a yield of 7.56 percent.
It was recently leased until 2026 with two five-year options.
Sitting on a land area of about 0.75 hectares, the service station earns a net rental income of about $674,550 per annum.
The selling agent was Michael Willems of Ray White.
Willems said the commercial complex is less than a year old and on a high volume traffic road in the heartland of the Riverstone Crossing Estate, where 1,000 homes are being built.
“The property offers a net lettable area of 2,267 square metres, including 1,040 square metres of 10 retail shops,” he said.
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Gold Coast 7-Eleven service station sells for $8.9 million

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Sydney's office vacancy rate has tightened to 7.7%, below the long-term average, according to research from JLL.
The Sydney CBD recorded positive net absorption of 25,600 square metres in the third quarter, taking the 12-month total to 148,000 square metres.
Its vacancy rate now sits below the 20-year average of 8.3%
Demand in the Sydney CBD was concentrated in the technology sector and also education providers, who are now a strong source of occupancy.
All the other state capitals recorded positive net absorption in the third quarter, except for Perth where the vacancy rate sits at 19.6%, its worst since 1995.
JLL's head of office leasing, Australia, Tim O'Connor said Sydney also had increased activity from financial services and infrastructure sector tenants.
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jchancellor-FAypfDUnLy

Sydney office vacancy rate tightens while Perth hits 19.6%: JLL

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A recently-built 7-Eleven retail store with a fuel outlet in Melbourne's Coolaroo is up for sale through expressions of interest.
The <a href="https://www.realcommercial.com.au/property-retail-vic-coolaroo-501723981" target="_blank">1350 Pascoe Vale Road</a> store is on a 12-year lease to 7-Eleven Stores Pty Ltd that started on August 2012 with options through to 2034.
The deadline for offers is November 13.
The building comprises a retail store outlet over 170 square metres.
It sits on a 1,200 square metre site. 
The current annual rental is $274, 407 net per annum with the tenant paying all outgoings excluding land tax.
The lease provides for an annual rental increase of 3.5%.
Gray Johnson listing agent Matt Hoath expects offers of around $5 million with an an indicative return in the 5.5% range, with building and depreciation benefits providing additional benefit.
The building is adjoined on two sides by the Melba Vale retirement village, while leading retailers are nearby on sites along Pascoe Vale Road.
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7-Eleven at Melbourne's Coolaroo up for sale

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La Gonda House, a two-storey warehouse in Sydney’s Chippendale is going on auction on November 12 through Colliers International.
<a href="https://rca.colliers.com.au/property-offices-nsw-chippendale-501738562" target="_blank">Situated at 35-45 Myrtle Street</a>, the warehouse offers strong income prospects.
The site consists of six individual tenancies, with the potential for a mix of uses.
“The building exudes charm and character - a great example of Inter War Art Deco design that is becoming rarer and rarer in the Chippendale Area,” said listing agent Michael Khouri of Colliers International.
La Gonda House will suit a range of investors looking to capitalise on inner city rental demand and high growth in the Chippendale area, added Colliers agent Matt Pontey.
The warehouse occupies a 663 square metre corner block, has three street frontages and is close to Sydney University, UTS and Notre Dame, and student accommodation facilities.
La Gonda generates strong income and will provide the new owner opportunities to value add, part-occupy or renegotiate the current leases, according to Colliers International.
The current net income is $182,554.84 excluding GST. 
The estimated fully leased net income is between $222,500 to $242,500. 
A Sam Hood photo from the 1930’s/40’s is on State Library of NSW records.
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La Gonda warehouse in Chippendale up for auction

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Australia’s best in building design were recognised at the 2015 National Building Design Awards with a 12-hectolitre microbrewery getting a key prize.
The brewer in Western Australia’s Northbridge was awarded the National Building Design of the Year.
The award, an initiative of the National Association of Building Designers, was sponsored by James Hardie Australia.
Hosted by interior design expert and editor of Vogue Living Australia, Neale Whitaker, more than 25 projects across Australia were awarded for their creative effort.
Designed by d4 Designs, Northbridge Brewing Company was lauded for creatively complementing the bustling activity of Northbridge Piazza and providing a family-friendly environment.
The result was a glasshouse where the sculptural quality of the micro-brewery becomes the focal point both inside and outside the building.
The projects were judged on their design solutions, sustainability, the relationship of internal and external spaces, utility, quality and balance of interior and exterior aesthetics.
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Microbrewery wins Australia's best building design award for 2015

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The Heritage Hotel, a 110-year-old hotel at Rockhampton in central Queensland, has been put up for auction.
The three-storey building at <a href="https://www.realcommercial.com.au/property-hotel+leisure-qld-rockhampton+city-501716201" target="_blank">228 Quay Street </a>overlooks the Fitzroy River.
It is surrounded by historic buildings in the Rockhampton CBD.
The hotel was extensively refurbished in 2005 and comprises three bars, a gaming room with 14 EGMs, function rooms, a manager’s residence and office areas, a restaurant with a commercial kitchen and 20 accommodation rooms.
The iconic local pub announced its sudden closure to the public in March through its Facebook page in the face of mounting debts.
Built on an area of nearly 809 square metres, the hotel will be auctioned on November 13 in Brisbane through Leon Alaban and Brent McCarthy of Ray White for the receivers and managers.
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Heritage Hotel in Queensland's Rockhampton up for sale 

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Melbourne's historic Collingwood venue, from where the Barley Corn Hotel operated for about 140 years, is to be auctioned on November 12.
The <a href="https://www.realcommercial.com.au/property-retail-vic-collingwood-501731182" target="_blank">177-181 Johnson Street</a> address comprises the former Barley Corn Hotel, currently a 100-bed backpackers hostel.
Set on a 558 square metre site, the property has frontages to Johnston Street, Harmsworth Street and Little Francis Street. 
It has been listed by Michael Taylor and Tom Maule of Teska Carson, which is marketing the property. 
"The three-street frontages provide flexibility for any development, while the current lease provides a handy income stream during planning and permit application stages,’’ Taylor said.
The property will be sold subject to a three-year lease from April 2014 to The Barley Corn Pty Ltd with a further three-year option at a current rental of $88,209.49 per annum.
"Collingwood was once known as a working class area but it has been through a significant gentrification process in recent years with a number of new developments driven by a huge upsurge in popularity," Maule said.
Collingwood is one of the oldest suburbs of Melbourne and has several historical buildings.
The sought-after location is just 1.5 kilometres to the Melbourne CBD.
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Collingwood's Barley Corn Hotel site on the market

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Melbourne-based boutique property developer CD Group has paid $6.275 million - a record rate of over $7500 a square metre - for a development site in the heart of Hawthorn.
Set directly opposite Swinburne University, its Teska Carson selling agents Anthony Choi, Tom Maule and Michael Taylor fielded more than 100 enquiries resulting in 10 formal expressions of interest for the <a href="https://www.realcommercial.com.au/property-land+development-vic-hawthorn-501701673" target="_blank">382-386 Burwood Road</a> property.
The development site was considered having first rate amenity including shopping, public transport, schools, parklands and leisure facilities.
The property currently comprises two single-level retail buildings leased to a Korean restaurant and a showroom display suite business on an 836 square metre site.
Zoned Commercial 1, it has 18 metres frontage to Burwood Road, 45 metres to Kent Road and 18 metres to Kent Lane. 
The vendor was a private Chinese family on a long term hold.
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$7500sqm paid for Hawthorn development site

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<img src="/images/2015/10/20/Holdencapital_banner.jpg" alt="" width="370" height="78">
SPONSORED POST
Following continuing pressure by APRA on banks to ensure that they comply with their obligations under the Basil III accord, the major banks recently reacted by reducing their appetite for construction lending, dramatically reigning in their marketing to developers and in some instances actually reducing the level of staff in their relationship management teams.
This conflict between their requirements to satisfy capital adequacy levels under the accord, coupled with their need to improve their return to shareholders and remain competitive against their peers has created a significant problem for many of their developer clientele.
To achieve their objectives, the banks have raised the bar for developers in terms of their condition precedent requirements, reduced gearing levels and increased their pricing on debt, effectively implementing a flight to quality and leaving many of their traditional but more marginal clients in terms of credit strength, scrambling for alternative funding sources.
This has resulted in a significant shift in the construction lending landscape with developers needing to quickly adjust and re-focus their attention on where they source their debt, and its not just the smaller more marginalised developers who are making this change.
HoldenCAPITAL is currently settling an average of more than 1 transaction per week but recently there has been a noticeable change in the ratio between the traditional bank sourced debt and those alternative funding options now being opted for by developers who don’t want to miss a market opportunity just because their bank has their own problems.
In FY15 we settled 64% of our deals with the major banks but this has quickly changed with 62% of the $300mil of project debt settling between now and Christmas likely to be placed with alternative funding sources.
Through managing the tender process on behalf of its clients, HoldenCAPITAL has been at the forefront of both the bank and non-bank markets and can quickly identify where a client can secure the best outcome for their project needs.  He says that the majors are still a strong force in the sector but there are very real alternatives emerging as strong contenders for new projects.
While there are additional costs associated with these alternative funding sources rising up to the meet the market demand, they do offer their own distinctly different benefits to developers who don’t want to be restricted in their ability to meet identified market opportunities as a result of constraints imposed by their traditional bank which have no direct relevance to their businesses.
By way of example, non-bank money can cost as low as 9-10% per annum, which, when compared to the traditional bank cost on a medium sized projects of say 30 product (if it was available), would add as little as ~$170,000 or a10% variance on normal finance costs (less than 3% of TDC), to a project with a total cost of $6M.
What this alternative product does offer the developer is the potential for significant savings in other areas such as the opportunity to commence the project without the need for pre-sales. It also allows the developer to lock in a construction price and minimise escalation risk as well as the benefit of selling product which has a more certain delivery date, rather than the more speculative "off the plan" route required to satisfy the banks pre-sale requirements. This in turn gives the developer an edge when selling any completed residual stock, which will likely be competing with stock still being constructed by those competitors who chose the pre-sale option.
The changing landscape in the construction finance arena has also given rise to an increase in private investors looking to invest in development opportunities. With the uncertainties surrounding investments in shares, reduced superfund returns and tightening investment yield in investment property, investment in well structured and risk mitigated developments is providing investors with a very attractive alternative. We currently manage over $70mil of private investor funds and the enquiry from new investors is getting more frequent.
So what is the future for construction lending? There is no doubt that many of these changes have been seen before, but the reality facing the banks is that many of the revisions driving how they participate in the construction market are permanent rather than the cyclical changes seen in the past and as such, it would appear that the rise of the alternative lenders is more than just a passing fad and could represent a real paradigm shift in this sector.
 
Dan Holden from HoldenCAPITAL was recently awarded #1 commercial broker in Australia. To find out more about which option best suits your next project, contact Dan Holden at HoldenCAPITAL on 0401 669 502 or visit HoldenCAPITAL <a href="https://www.holdencapital.com.au" target="_blank">here.</a>
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