A full-scale Sky Homes prototype apartment for <a href="https://www.apartments.com.au/new-apartments/zeste-at-the-orchards-norwest-104-fairway-drive-norwest-nsw-2153">Zeste</a> has been opened by <a href="https://www.apartments.com.au/developers/sekisui-house-australia">Sekisui House Australia</a>, offering buyers a look at the final residential release within The Orchards masterplan in <a href="https://www.apartments.com.au/developments/norwest-nsw-2153">Norwest</a>.

The prototype launch coincides with buyer demand for larger apartment living continuing across Sydney’s Hills District.

David Lee, Sales Manager, Apartment &amp; Mixed-Use Developments at Sekisui House Australia said it was evident from the preceding four stages at The Orchards that a large number of buyers were local owner occupiers or downsizers specifically looking for oversized apartments with additional living spaces.

“The majority of buyers prefer to touch, feel and physically sight a full-scale completed apartment, rather than imagining the living spaces from floor plans," Lee says.

"The prototype apartment provides greater clarity and buyer confidence. We expect this will increase sales momentum for Zeste and the Sky Homes in particular.”

[smartcode_project:default project_id=150510 project_image_fid=351878]

Positioned within Stage 5’s Zeste project, the Sky Homes form part of the final opportunity to purchase within the award-winning master-planned community, which will ultimately deliver approximately 1,300 apartments.

Designed by <a href="https://www.apartments.com.au/architects/rothelowman">Rothelowman</a>, Zeste comprises two residential buildings, Essence and Eden, providing 209 apartments surrounded by extensive landscaping, resort-style amenities and community spaces.

Ben Pomroy, Principal at Rothelowman said Zeste explores a reinvention of the traditional house, in the orchard, synthesising the nostalgic story of the orchard homestead of yesteryear with a contemporary aesthetic inspired by the landscape.

“Natural light and ventilation are key to the design, contributing to a higher quality of life at the human scale. Across all Rothelowman projects, our ethos of ‘a generous eye for life’ drives our consideration of the human experience as the central point of focus of our design process.”

Pomroy says a&nbsp;notable design element is the cathedral glass light boxes incorporated in the joinery, inspired by the idea of wandering the orchard homestead with a lantern in hand, something familiar and nostalgic.

"We took this narrative and gave it a contemporary twist that is both beautiful and functional, creating unique features that unify the kitchen and bathrooms design.”

[smartcode_project:default project_id=150510 project_image_fid=351874]

In addition to the two residential buildings, Zeste comprises a single-story community amenity pavilion nestled in the landscape between Essence and Eden.

“The communal pavilion is a distinctive feature designed to foster a deep sense of community, with nature at its heart," Pomroy added.

"Whether it is watching the football grand final or hosting a family BBQ, the pavilion is designed as a place where residents can create memorable moments with friends, family and neighbours.

Since launching Essence, the first building within Zeste, buyer demand has remained strong with more than 30 per cent of residences already sold. Sky Homes have accounted for nearly 40 per cent of all sales achieved since launch.

“Purchasers are responding positively to the oversized layouts, diverse apartment configurations and the vast range of community facilities that will be available at completion,”David Lee noted.

Zeste Sky Homes represent approximately 35 per cent of the entire Stage 5 offering and are available across both Essence and the yet-to-launch Eden building. Prices for the Sky Homes range from $1,135,000 with one car space through to $1,500,000 for two car spaces.

Apartments across the broader Zeste release start from approximately $715,000, with generous floorplans ranging from 59 to 144sqm. Select residences also feature integrated ‘Max’ spaces, designed to function as flexible areas for home offices, children’s playrooms or additional storage.

Zeste also continues Sekisui House Australia’s sustainability partnership with Altogether Group, delivering integrated water, power and data services alongside passive design initiatives including cross-ventilation, landscaping and water features.

Early purchasers are currently able to access a selection of premium upgrade options, with VIP buyers receiving one complimentary upgrade package. A 2.5 per cent deposit is available for a short time.

Sekisui recently commenced its pre-construction phase. They are expecting an early 2028 completion of Zeste.

[smartcode_project_cta:default project_id=150510]

Joel Robinson

Zeste Sky Homes prototype opens as buyer demand surges for oversized apartment living

Having recently announced its entry into the booming Gold Coast new apartment market with <a href="https://www.apartments.com.au/new-apartments/aere-chevron-island-18-20-mawarra-street-surfers-paradise-qld-4217">Aere Chevron Island</a>, developer Martello™ is offering generous stamp duty savings for buyers before June 30.

Martello™ says the incentive creates a more accessible entry into premium apartment living.

"While incentives in property are nothing new, today’s stamp duty contributions arrive at a particularly important moment," the developer says.

"Buyers are not only seeking quality homes and strong locations; they are also looking for smarter financial entry points. Reducing or offsetting stamp duty can represent tens of thousands of dollars in savings - funds that can instead be directed toward furnishing a home, reducing mortgage pressure, or simply providing peace of mind during the transition into ownership."

[smartcode_project:default project_id=143932 project_image_fid=367517]

Aere is one of the more boutique new developments on Chevron Island, with just 33 apartments across 18 storeys on Mawarra Street

The developer has placed a strong emphasis on wellness, briefing architecture firm Raunik Design to embed this philosophy into the project.

<a href="https://www.apartments.com.au/developers/martello">Martello™</a>&nbsp;has positioned Aere as a continuation of its human-centric development approach, with a focus extending beyond amenity to the fundamentals of layout, natural light, and spatial planning.

[smartcode_project:default project_id=143932 project_image_fid=368446]

To bring a heightened level of confidence to the project, <a href="https://www.apartments.com.au/developers/martello">Martello™</a>&nbsp;has already appointed Promax Construction to build the tower. They are expected to start construction in the coming months.

Martello™ says that in any market cycle, confidence matters.

"Buyers who may have been waiting on the sidelines are now reassessing their timing as developers and vendors introduce meaningful incentives designed to support decision-making. For owner-occupiers, it creates an opportunity to secure a premium residence with reduced upfront costs. For investors, it can improve the overall acquisition equation at a time when rental demand remains exceptionally strong across many key markets."

&nbsp;

[smartcode_project:default project_id=143932 project_image_fid=367507]

Aere offers a mix of two-, three-, and four-bedroom apartments, the latter of which occupy half a flor. These layouts prioritise separation between living and sleeping zones, along with increased privacy and storage, features more commonly associated with detached housing than traditional apartment product.

Aere’s private resident amenity spaces centre on wellness. A rooftop level will incorporate a heated swimming pool, sauna and spa, alongside a residents’ lounge, dining areas and barbecue spaces, while additional shared facilities throughout the building include a gym and yoga area.

[smartcode_project:default project_id=143932 project_image_fid=367515]

&nbsp;

"What we are seeing now is a market that rewards readiness," Martello added.

"Buyers who are informed, financially prepared, and willing to act decisively are finding opportunities that may not exist once conditions shift again. Incentives such as stamp duty contributions are typically limited in duration and allocation, particularly within tightly held developments where demand remains high.

&nbsp;

Offer available on selected residences at Aere Chevron Island only. Stamp duty contribution provided by the developer at settlement and cannot be exchanged for cash or combined with any other offer unless approved by the developer. Offer valid for contracts signed on or before 30 June 2026. The developer reserves the right to amend or withdraw the offer at any time without notice. Terms and conditions apply.

[smartcode_project_cta:default project_id=143932]

Martello™ offers limited time stamp duty concessions at Aere Chevron Island

New development specialists Lachlan Cottee and Ben Dalgleish have unveiled their new development firm, Dalcott, following several successful projects delivered under the Pyco banner across the region.

Pyco is currently delivering Atelier in nearby West End, Nouveau in Albion, and Onde at Kirra, its debut Gold Coast apartment development in the booming Kirra Beach precinct.

Its first plans under the new Dalcott banner are in South Brisbane, which has been Brisbane’s most enquired-on suburb so far in 2026, while neighbouring West End has also continued to record strong demand.

The developer already has approval for an 11-storey building with 65 apartments on Browning Street, however has recently acquired the adjoining 910 sqm site at the rear, creating a combined 2,746 sqm footprint that will now allow for two 11-storey buildings with 92 large-scale apartments, a configuration Cottee and Dalgleish have focused on across their local portfolio.

The project, known as <a href="https://www.apartments.com.au/new-apartments/marrone-south-brisbane-39-browning-street-south-brisbane-qld-4101">Marrone</a>, will comprise 84 three-bedroom apartments, 16 of which will include an additional multipurpose room, and just eight two-bedroom residences.

DAH Architecture has led the design of Marrone, which will include more than 330 sqm of communal open space and rooftop recreation areas.

<img alt="Marrone" data-entity-type="file" data-entity-uuid="7eeea1a0-be23-47c8-80fb-3409428241fd" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-05-21%20at%209.36.38%E2%80%AFAM.png?VersionId=pZW7o.tB7oJovYCRIFSxrZbMr6QdpHy." />

Cottee told Apartments.com.au the project reflects a gap in Brisbane’s apartment market.

"It is an area we know well with Atelier, another development which focuses on large apartments, less than 300 metres away," Cottee says.

"There's limited supply of large-scale apartments of this size in a single building in Brisbane. The majority of apartments in this category are in considerably smaller buildings, on the water, and are only really accessible to the deepest of pockets.

"Marrone will offer the same size and scale, but with greater amenity and at a much more realistic price point for the market."

The architectural approach reflects the continued evolution of South Brisbane’s higher-density residential character. Renders show a heavily landscaped façade composition with curved balconies, textured brickwork, deep recesses, and integrated planting aimed at softening the scale of the twin towers.

The revised proposal builds on the design narrative established in the original scheme. In the earlier submission, Gatehouse Architects described the project as a continuation of Browning Street’s long-term urban transformation.

“The proposal echoes the spirit of early developments like Watson Terrace (built in 1888), by contributing to the growth and diversification of the local population,” the original design statement noted.

“Just as Watson Terrace played a role in the area’s early gentrification, this development continues that trajectory, delivering contemporary housing that addresses the evolving needs of South Brisbane’s expanding community.”

The updated proposal, designed by DAH Architecture, spans a 2,746 sqm corner site with frontages to Browning and O’Connell Streets. The development will comprise two 11-storey residential buildings delivering 92 apartments, replacing the previously proposed 65-unit scheme.

The apartment mix has shifted further toward larger owner-occupier residences, continuing Dalcott’s established strategy across South East Queensland. The plans include 68 three-bedroom apartments, 16 three-bedroom apartments with multipurpose rooms, and eight two-bedroom residences. Two basement levels will provide 142 car spaces, alongside bicycle parking for 115 bikes.

The larger Marrone proposal arrives amid sustained redevelopment momentum across South Brisbane and the wider Kurilpa precinct, where developers are increasingly targeting owner-occupiers seeking larger apartments close to the CBD, cultural precincts, and riverfront amenity.

The site sits within walking distance of South Bank, the Queensland Performing Arts Centre, Brisbane State High School, and several major transport connections, while nearby Fish Lane and West End continue to drive demand for higher-end inner-city apartments.

Cottee is expecting Marrone to launch around August with Realm Projects.

Exclusive: Dalcott doubles down on South Brisbane with twin-tower Marrone plans

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<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."

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

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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<div>One of the most notable aspects of this building approvals boom has been that it has been focussed on the building of high density housing to an unprecedented extent.</div>
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<div>If you want capital growth from property then I suggest that you should be wary of high rise stock since proportionately far too much of it is has been approved.</div>
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<div>Approvals in most instances do now seem to be pulling back, but the approvals pipeline has seen 4+ storey dwellings pushed through this cycle to date in unprecedented volumes.</div>
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<div>In August the number of approvals pulled back in Victoria from 1,766 to as the new <a href="https://petewargent.blogspot.co.uk/2015/09/building-approvals-boom-passes-peak" target="_blank">levy</a> takes effect, but the 12mMA trendline tells its own story...</div>
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<div>In Queensland the number of 4+ storey dwelling approvals at 895 in August was well below the extraordinarily high volumes approved in 7 of the preceding 9 months, and the trendline peak now seems to be in...</div>
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<div>Being home to the largest capital city, New South Wales has typically approved the greatest number of high rise apartments, although here too approvals fell from an elevated 3,431 to 1,887 in August...</div>
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<div>Overall it seems that the great flood of approvals of high rise apartments is now easing as developers take note of the looming oversupply.</div>
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<div>The problem with the highest density tower blocks for investors is simply that there is no inherent scarcity value. </div>
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<div>Pass.</div>
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<div>
PETE WARGENT is the co-founder of <a href="https://allenwargent.com/" target="_blank" rel="nofollow">AllenWargent</a> property buyers (London, Sydney) and a best-selling author and <a href="https://petewargent.blogspot.com/" target="_blank" rel="nofollow">blogger</a>. 
His latest book is <a href="https://www.bigskypublishing.com.au/Books/General-Interest/Four-Green-Houses--and-a-Red-Hotel/1015/productview.aspx" target="_blank" rel="nofollow">Four Green Houses and a Red Hotel</a>.
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pwargent-M4siyDbqQY

The high rise apartment glut: Pete Wargent

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As they do every year, new listings increased over the first month of spring, with further additions of stock to the market expected to ramp up until the end of year slow-down in December.
In addition to the number of listings being added to the market CoreLogic RP Data’s lead listings indicator is also showing a 1.6% month-on-month change (seasonally adjusted), with Tasmania (+5.2%) and Victoria (3.4%) showing the most activity of listings being prepared for sale.
In terms of listing stock, the largest proportionate increases this month relative to last month have been observed in Brisbane, where the number of residential properties added to the market over the four weeks ending 27 September was 12.9% higher than the four week period a month earlier. Following Brisbane was Hobart (12.5% higher) and Adelaide (11.0% higher).
Despite the increase in new listings, total stock levels remain just 1.2 per cent higher relative to one year ago across the combined capital cities, while nationally; total listings are -0.6 per cent lower. As at 27 September, there were 234,094 residential properties available for sale across Australia, while one year ago, there were 235,399.
When compared to last year, across the capital cities, total listings are higher in Perth (+20.7%), Darwin (+12.3%) and for the first time this year, Sydney (+4.7%). In Sydney, one of the reasons the total stock levels are now higher than one year ago is likely due to the increase in stock being added to the market. New listings across the city are 16 per cent higher than one year ago, to put this into perspective, over the comparable 28 day period one year ago, 7,431 listings were newly added to the market, compared to 8,617 this year.
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Across the individual states and territories, there are more listings than one year ago in Western Australia, Northern Territory (both +12.9%) and to a lesser degree, South Australia (+2.2%), while across these three regions, the number of new listings added to the market over the past four weeks is lower than one year ago. In all other states and territories, total listings are currently lower than they were relative to last year.
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First month of spring returns lift in new listings: CoreLogic RP Data's Shana Miller

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Jones Lang LaSalle is marketing the sale of a 50% interest stake in Sydney's World Square on behalf of Brookfield through an expressions of interest campaign closing Thursday, 12 November.
World Square, which takes up an entire city block, is bounded by George, Pitt, Liverpool and Goulburn Streets.
World Square features a Coles Supermarket, six mini-major tenancies, 97 specialty tenancies and a car park with 522 spaces. 
Simon Rooney, JLL’s head of retail investments Australasia said a surge in apartment developments in the Sydney CBD has and will continue to directly benefit World Square over the next two to three years.
"One of World Square’s great attributes is its potential to deliver income reversion," he said.
"Investors are increasingly focusing on assets with the strongest income growth potential, a key driver in capital value enhancement, in an environment where yields have compressed significantly across all the real estate sectors.
World Square was rated number two in the country for the highest Moving Annual Turnover (MAT) with $248 million and number three for the highest MAT/sqm with $18,188/sqm, according to the 2015 Shopping Centre News “CBD Guns” survey.
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50% interest sale in Sydney's World Square complex

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The latest Industrial South report from Burgess Rawson for Western Australia has shown an increase in demand for vacant land around Bibra Lake, Jandakot and Forrest Dale.
Demand for warehouses in the Myaree region is down. 
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Increase in demand for vacant land around WA's Bibra Lake, Jandakot: Burgess Rawson

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The Caltex branded service station and truck stop at Bomaderry on the NSW south coast sold at recent Burgess Rawson auction at $3,925,000.
Its lease runs to March 2018 plus options to 2028.
There was a recent major rebuild and environmental upgrade with new tanks and pipework.
It is a large 4,047 sqm landholding with wide frontage at <a href="https://www.realcommercial.com.au/property-retail-nsw-bomaderry-501621521" target="_blank">246 Princes Highway, Bomaderry</a>, just north of Nowra with high profile exposure to large volumes of traffic.
The Shoalhaven region has been benefiting substantially from government funded highway upgrades, Burgess Rawson listing agent Simon Staddon said.
There are annual CPI reviews with its current net income at $106,178 pa + GST.
Regional service stations sold in NSW over the past year have included $950,000 at Dubbo with an $80,000 net income and $4.26 million at Rutherford with $293,000 net income.
Burgess Rawson agent Simon Staddon also sold the Albion Park service station, closer to Sydney on the Princes Highway, for $2,001,000 in 2013 with a then $160,000 net income.
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Bomaderry service station sold through Burgess Rawson

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Investors continue to show a strong appetite for main road convenience retail centres, making them one of the most sought after bite-sized commercial property investments in the current market.
The Holland Place Convenience Centre at 926 Logan Road at Holland Park West in Brisbane’s inner south-east is the latest centre to be traded, sold for $3.4 million on 5.97% yield.
In a deal negotiated by Michael Harcourt of Savills, the fully-leased centre was sold on behalf of Ken Woodley, the co-founder of Metro Property Development.
Mr Woodley held the Holland Place Convenience Centre as a personal investment.
Its sale is the second such convenience centre that Savills has sold for him in recent years, following the sale of the Sherwood Court convenience centre in Brisbane’s south-west for $3.9 million in 2013.
Mr Harcourt said that Mr Woodley has divested his investment portfolio in favour of long term leased service station investments.
Mr Harcourt said the Holland Place Convenience Centre presented a highly attractive investment opportunity.  
He said the centre is fully leased to a mix of retail operators including a Friendly Grocer supermarket, a Thai restaurant, bakery and hairdresser.
“The centre has enjoyed an excellent history of tenancy occupation and its success is underwritten by its prominent left-hand outbound location on one of the busiest arterial roads in Brisbane, within just five kilometres of the CBD,” he said.
Mr Harcourt said the sale highlights the strength of the sub-$5 million retail investment market, in particular well-established and prominently located convenience centres.
"High quality convenience centres in main road locations are continuing to attract strong demand from private investors in the current market.”
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Holland Place Convenience Centre sells for $3.4 million‏

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A local investor with ties to Malaysia has paid $15 million for a Bourke Street, Melbourne property on a yield of just over 3% in a deal brokered by Savills’ directors Clinton Baxter and Nick Peden.
Mr Baxter said the resulting 3.07% yield for the <a href="https://www.realcommercial.com.au/property-retail-vic-melbourne-501662393" target="_blank">384-386 Bourke Street</a> property was a further demonstration of the ongoing yield compression for well-located freestanding CBD properties while the land rate of $29,182 a square metre also underscored investor’s continuing confidence in the market.
"Whilst some pundits were predicting an easing of land values following Planning Minister Wynne’s recent announcement of interim planning controls, this transaction along with our recent sale of 10-16 McKillop Street ($10.5m) illustrates that land values remain strong with investors appreciating that over the long-term the CBD built environment simply must increase in density to accommodate our rapidly rising population.
Mr Peden said interest in the property had been driven by the property’s location just 60 metres from the Bourke Street Mall, the large 514 square metre site with two street frontages offering significant future value-add potential, and the lease to longstanding blue-chip tenant, OPSM.
“The property’s numerous attributes attracted extremely strong interest throughout the sale campaign, particularly from offshore groups, eventually selling to a local investor with strong links to Malaysia who wishes to retain the property as-is as a long-term investment.
He said the three level building was sold subject to a lease to OPSM at a net rental of $460,576 per annum.
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OPSM’s Bourke St Melbourne building sells for $15 million

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A Melbourne based investor has outbid four other potential purchasers at the auction of an East Melbourne retail property with a final bid of $3.025 million.
It sold through Savills Australia in conjunction with MGO Property.
Savills’ Nick Peden and Jesse Radisich, and MGO Property’s Martin O’Halloran, said the <a href="https://www.realcommercial.com.au/property-retail-vic-east+melbourne-501678397" target="_blank">74 Wellington Parade</a> property drew 120 enquiries.
There was an auction crowd of more than 60.
Located on the corner of Simpson Street, the property comprises a two level retail building with retail and office uses on the ground floor and office upstairs on a 193 square metre site with six metres frontage to Wellington Parade and 28 metres to Simpson Street.
Mr Peden said the property was sold fully-leased to two tenants at a total income of $95,576 net.
Mr Radisich said the high profile position and the close proximity to the MCG and Jolimont Railway Station, along with Wellington Parade traffic, provided a particularly strong retail catchment.
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East Melbourne retail opposite MCG fetches $3 million‏

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Property and business services along with government/community organisations have been the key drivers of Melbourne’s CBD office leasing market over the last five years, according to Savills Australia research.
The two sectors accounted for a combined 70% of square metres leased in the 12 months to June while the finance &amp; insurance sector which in 2012 accounted for 38% of CBD leases has fallen to just 8%.
According to Savills’ Victorian head of research, Glenn Lampard, the figures reflect the divergent policies of Liberal and Labor governments, the rapid rise of the education sector and the enormous amount of money that has been poured into property investment over recent years.
The burgeoning education sector had been a key driver of the progressive rise in the amount of space being taken up by the government/community sector with student numbers nationally on track to reach a new record of circa 660,000 by year’s end (based on March quarter Department of Education data) with the bulk of those students in Sydney and Melbourne.
"As is usually the case the election of a Labor Government saw an increase in public service numbers and necessarily, the amount of space leased, while the lure of Melbourne’s highly regarded education sector coupled with the fall in the Australian dollar has bolstered an already strong education sector.
"Property and business services have also been boosted by the movement of the dollar which has helped to drive the strongest property investment market in a decade,’’ Mr Lampard said.
He said the apparent collapse in the finance and insurance sector’s share of the leasing market was a product of the major institutions, including NAB and ANZ, having concluded long term leasing agreements in the year to June 2012, requirements which would not come back to the market for several years.
Melbourne’s education market accounted for upwards of 300,000 square metres, a market which, according to 1987 figures, accounted for only around 20,000 square metres of CBD space.
Mr Lampard said the CBD fringe market had shown a similar profile with Property and Business Services (47%) along with Government/Community tenancies (28%) accounting for 75% of the market and Finance &amp; Insurance, which peaked in 2012 at 36%, taking just 9% of leases concluded in the 12 months.
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Burgeoning education sector dominates Melbourne leasing market

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National fund manager Primewest has capitalised on strong investor appetite for A-grade commercial property with the sale of one of its flagship Western Australian assets, 53 Ord Street in West Perth for $59 million.
CBRE’s Peter Agostino and Andrew Woodley-Page negotiated the sale of the A-grade asset on behalf of <a href="https://www.primewest.biz/portfolio/article/53-ord-st/" target="_blank">Primewest to Singaporean real estate fund manager, Mapletree</a>.
The property was part of a portfolio listed for sale by Primewest earlier this year, with other assets including a 50% interest in a St Leonards office tower in Sydney and five additional office assets in New South Wales, Victoria and Queensland.
Listed for sale via expressions of interest, the West Perth landmark building comprises 6,864sqm of commercial space over six levels, offering high quality office accommodation with versatile floor plates of approximately 1,400sqm. The property also offers excess land for further development in the future.
CBRE sold the property to Primewest in June 2009 for $41.5 million and have retained management of it since.
Primewest’s John Bond said the sale of the portfolio had tapped into the strong interest from local and international institutions, as well as large scale individual investors seeking high value, quality Australian assets.
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