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 continued emergence of institutional developers (such as GPT, Australand, Goodman, Charter Hall, CIP and DEXUS) in Brisbane’s industrial market is creating increased competition to secure occupier commitments and benefiting both tenants and developers alike.
The trend has gained momentum in the last two to three years, with significant national institutional developers such as GPT, Australand, Goodman, Charter Hall &amp; CIP and DEXUS buying up land, and pre-committing or speculatively developing new facilities. 
This has caused increased competition within the marketplace marking a positive outcome for tenants.
Beneficial commercial terms in regard to rent, review structure and incentives can help generate cost saving for the occupier groups, particularly when they are the first to commit to a new estate and “kickstart” the development.
It is well known that property costs are usually one of the most significant outgoings for a business.
Increased competition offers more opportunities to the occupier market, and purpose-built facilities translate to cost savings for tenants through relevant commercial terms, improved design and functional operational outcomes. 
Matthew Frazer-Ryan, national director of the industrial team in Brisbane, said the trend was evident in recent meetings with various institutional developers and large scale occupiers looking to take advantage of the current market dynamics. 
For developers, this means their new estates can progress to delivery from the planning stage, and start the development cycle to create income producing assets.
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j.ballantyne1990-6AQqhLzZaK

Institutional developers gain momentum in Brisbane‏ industrial market

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A local investor/developer and a tenant have outbid rivals in two hotly-contested North Balwyn auctions on CBD-like yields of just 1.49 and 2.89%, surpassing vendor expectations by a combined $500,000.
The properties at 339 and 341 Balwyn Road were auctioned in front of an 80 strong crowd with six bidders driving the price on 341 to $935,000 and the five bidders for 339 pushing the price to $790,000.
The purchasers, according to selling agents, Teska Carson’s George Takis and Michael Taylor, were an investor/developer who purchased 339 and the existing tenant who purchased 341.
Mr Takis said the <a href="https://www.realcommercial.com.au/property-retail-vic-balwyn+north-501628049" target="_blank">339 Balwyn Road</a> property -  a single level brick building with a right of way at the rear - offered room at the rear for an extension or redevelopment of the site. He said the veterinary surgeon tenant of the two-storey shop and dwelling next door at 341 Balwyn Rd had recently undertaken a major renovation of the building.
Mr Taylor said pre-auction enquiry had been a good indicator of what to expect on auction day.
"These properties both offered very secure tenancy profiles – one who had recently undertaken a major renovation and another who had been at the premises for 19 years – and positions within a tightly held precinct with little or no vacancy as well as potential development upside.
"Investment properties in the circa $1 million and under price range have and will continue to entice strong enquiry especially while interest rates remain so low and while commercial property offers such attractive yields,’’ Mr Taylor said.
The vendor was a local private investor. 
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Demand drives CBD-like yields in North Balwyn

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A core CBD Townsville offering, with 8,895 square metres across seven storeys, has been listed adjoining the targeted $136.6 million Townsville City Waterfront priority development area.
Colliers International Townsville’s associate director of commercial and industrial, Neville Smith, said this property offered 95 metre frontage to Townsville’s CBD Flinders Street Mall and parallel Odgen Street.
“This regional trophy asset fronts the Townsville City Waterfront priority development area, meaning that the buyer will be investing in a precinct, and a city, targeted for accelerated development with a focus on economic growth,” Mr Smith said.
The property – <a href="https://www.realcommercial.com.au/property-offices-qld-townsville+city-5811428" target="_blank">280 Flinders Street Central</a>, better known as Northtown Complex – hosts a mix of commercial and retail tenants, including Townsville City Council City Library, BOQ, and ASX Listed 1300 Smiles.
The Townsville City Waterfront priority development area is a $136.6 million project targeting the waterfront area Ross Creek, bordering Ogden Street and the CBD where Northtown Complex is located.
The project will be the most significant waterfront redevelopment since Townsville’s award-winning Strand redevelopment, and will accelerate development in the area with a focus on economic growth and accommodating the 30,000 people expected to be living, working and visiting Townsville’s CBD by 2030.
The property is for sale via Colliers International Townsville. 
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Core Townsville CBD asset listed for sale by receivers

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<div>Now the construction sector is expanding again per AIG.</div>
<div> </div>
<div>Some good analysis from AIG that is well worth a read - apartment construction is an obvious strong point, which makes the drag on second quarter GDP by dwelling construction something of a mystery.</div>
<div> </div>
<div>Perhaps the residential construction industry is operating at or close to its full capacity?</div>
<div> </div>
<div>In any case, I expect dwelling construction to contribute to the economic growth in the third quarter.</div>
<a href="/images/2015/09/09/PCI.jpg" target="_blank">Click to enlarge</a>
<img src="/images/2015/09/09/PCI.jpg" alt="">
 
All three of AIG's Performance Indices are now in expansion territory - manufacturing, construction and services.
<a href="/images/2015/09/09/AIG.jpg" target="_blank">Click to enlarge</a>
<img src="/images/2015/09/09/AIG.jpg" alt="">
Source: AIG
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

Construction expands in August: Pete Wargent

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Distributor of mechanised medical dispenser units, Willach Pharmacy Solutions, has agreed terms on a new office and warehouse lease at Burwood in Melbourne’s south-eastern suburbs in a deal brokered by Savills Australia.
The Unit 11, 15-21 Huntingdale Road property comprises a 968 square metre office and warehouse including 600 square metres of warehouse space and 368 square metres of office space.
According to Savills associate director, Daniel Kelly, who brokered the deal the property was let on a four year term. The rental was not disclosed.
Mr Kelly said the tenant had simply outgrown its existing facility and was determined to stay within the tightly held Burwood area.
He said the tenant was also attracted by the property’s main road exposure.
The lessor was a private Melbourne investor.
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Willach Pharmacy takes new Burwood lease‏

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<div>An extraordinary speech in Sydney from the Reserve Bank's Luci Ellis which could almost be an advertorial for what experienced property investors already know - when it comes to property investment, location really is everything.</div>
<div> </div>
<div>The supply of prime location land, explains Ellis, is essentially fixed, yet with a growing population in Australia the demand for it grows by the year.</div>
<div> </div>
<div>The inevitable result therefore has been that inner ring land values and therefore house prices continue to rise faster than those in the outer suburbs, and not only by a small margin. </div>
<div> </div>
<div>Ellis explains that even releasing more land around the capital city fringes may not be effective at bringing down inner ring house prices since the prime location land which everyone seems to want to get their hands on remains fixed in both place and supply.</div>
<div> </div>
<div>Research by the Reserve Bank shows that place is nearly always more important than spacewhen it comes to driving property prices, and buyers will always pay a premium for inner suburban housing.</div>
<div> </div>
<div>Moreover, significant increases in demand cannot be absorbed by new supply of prime location land, quite simply because there is none.</div>
<div> </div>
<div>In the words of Ellis: "The newly buily supply is simply not the same as the existing stock, because it is somewhere else".</div>
<div> </div>
<div>Indeed. I wrote about this very same issue - "substitutability" - some time ago. </div>
<div> </div>
<div>There is nothing particularly new about this idea, of course, but the Reserve Bank provides the research to prove the point by comparing the growth in "prices of inner ring properties to those further out, particularly in Sydney".</div>
<div> </div>
<div>The gap in the relative price action performance is both material and ongoing, with the data from 2006 to 2014 proving the point and ending any arguments.</div>
<div> </div>
<div><a href="/images/2015/09/09/RBA4.jpg" target="_blank">Click to enlarge</a></div>
<div><img src="/images/2015/09/09/RBA4.jpg" alt=""></div>
<div>
<div>Within the above framework if outperformance is what you are seeking it obviously helps to find suburbs which are set to improve in some way (for example, a gentrifying location, or set to benefit from a new light rail link). Over recent cycles, house prices have also outperformed apartment prices in most capital cities, although with initial rental yields often 1 per cent or more lower on average for inner suburban houses generally the growth needs to be stronger to compensate for the weak initial cash flow. The old adage is true. When it comes to property, it really is first and foremost about "location, location, location".</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>.
</div>
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RBA: Location, location, location! Pete Wargent

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Two adjoining industrial properties located within the Australian Marine Complex (AMC) in Perth’s southern corridor are being offered for sale in a move tipped to generate strong buyer interest.
CBRE’s Geoff Fraser and Warick Irving have been appointed to sell the two prime industrial assets at <a href="https://www.commercialrealestate.com.au/property/2011721577/for-sale/wa/henderson/industrial-warehouse" target="_blank">32 and 36 Stuart Drive, Henderson</a>, via an offer to purchase campaign on behalf of KordaMentha Restructuring.
36 Stuart Drive comprises a large three frontage site of 14,460sqm with modern, well-designed improvements totalling nearly 7,600sqm.
The A-grade asset features a freestanding office/warehouse and workshop facilities, as well as 12 ten-tonne gantry cranes, six automated roller shutter doors, extensive hardstand areas and established landscaping.
Positioned in the heart of the AMC, the facility at 32 Stuart Drive features a two level office/workshop of approximately 1,346sqm comprising a five tonne gantry crane and front roller shutter door access.
CBRE’s director of industrial services, Geoff Fraser, said the offering represented an opportunity to gain a presence in the well-established and renowned AMC precinct south of Perth.
The AMC is a premier industrial estate located in Henderson on the shores of Jervoise Bay, only 23 kilometres south of the Perth CBD.
Both properties will be marketed for sale from Wednesday 19th August 2015 over a five week sales campaign.
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Perth investment opportunities - Stuart Drive‏

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The upcoming relocation of the Nedlands Whole Health Clinic has prompted the sale of a multi-use retail property in Perth’s premier medical hub.
CBRE’s Michael Milne and Ben Younger have been appointed to sell the property, which is located at <a href="https://www.realcommercial.com.au/property-offices-wa-nedlands-501664949" target="_blank">33 Stirling Highway and 100 Meriwa Street</a>, via a public offers invited campaign closing September 10.
Located on a single consolidated title, the property has an underlying land area of 589 square metres and benefits from rear lane way access and generous street parking options.
The Stirling Highway component of the property has a two year residual lease to prominent local surf retailer Windforce.
The Meriwa Street segment of the property will be sold with vacant possession, with its current tenant Nedlands Whole Health Clinic relocating to new medical facilities.
Mr Milne said the property offered a premium opportunity to secure a presence in one of Perth’s renowned medical and commercial hubs.
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Perth investment opportunities - Nedlands Medical Hub

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A $250 million plus pure Sydney industrial portfolio is expected to attract significant interest among private, institutional and offshore buyer groups when it hits the market next month.
Colliers International’s Gavin Bishop and Tony Iuliano, in conjunction with Chris O’Brien and Matt Haddon of CBRE, have been appointed to sell a six-asset, 150,000sqm portfolio of prominently located and tenanted industrial properties in and around Sydney.
All the assets within the portfolio also have highly sought after locations close to key road and investment project infrastructure.
All properties fall within recognised institutional investment-grade locations popular with both private and institutional investors.
“The portfolio overall has a strong WALE of 6.75 years, with 43% of the portfolio having a lease expiry beyond 2020, providing strong security of income,” Mr Haddon said. “55% of the net income is evenly balanced between four out of the six assets, and the tenancy profile overall is very strong.”
The portfolio comprises of six assets located in the following suburbs::
<ul>
<li>Huntingwood: A modern warehouse and distribution facility with easy access to the M4 and M7 Motorways. Leased to long term tenant, DHL.</li>
<li>Minchinbury: A  high quality, functional warehouse facility with excellent access to the M4 and M7 Motorways, leased to Star Track Express.</li>
<li>Villawood: A functional warehouse and manufacturing facility  leased to Pact Group</li>
<li>Fairfield: This asset is considered the best logistics facility in Fairfield, leased to Fantastic Furniture and DB Schenker.</li>
<li>Kingsgrove: A modern office-warehouse facility, with easy access to the M5 Motorway and 10 minutes from the Port of Botany. Leased to Shriro Australia.</li>
<li>Blacktown: A highly functional warehouse and manufacturing facility to Snack Brands, close to the M7 Motorway.</li>
</ul>
Mr O’Brien said 51% of tenants are ASX-listed, 25% are multinational companies and 24% are major corporate occupiers.
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Rare Sydney industrial portfolio set to make waves in hotly contested market

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A tenanted freestanding investment in the heart of the Caloundra CBD on the Sunshine Coast has been sold prior to auction by Ray White Commercial Noosa and Sunshine Coast North for $2.05 million.
Currently leased to Upstairs nightclub and Star Pharmacy Group, the two storey retail building at <a href="https://www.realcommercial.com.au/property-retail-qld-caloundra-501645209" target="_blank">66 Bulcock Street, Caloundra</a>, was sold to a private investor by Ray White Commercial Noosa and Sunshine Coast North directors Paul Butler and Paul Forrest.
The property was sold on behalf of Cammeray Investments Pty Ltd for a yield of 7.8%.
Mr Butler said the property was on the market for the first time in 14 years and it was underpinned by two good tenancies, with the popular nightclub operational for more than 30 years and the pharmacy recently commencing a five year lease.
“This building has two outstanding tenants and is returning net rental income of more than $160,000 per annum,” he said.
“The sale prior to auction shows the emerging strength of the Caloundra retail market after a period of high vacancy.”
Mr Forrest said there was strong interest in the older style, 560 sqm, two level concrete block building, which is centrally located on Bulcock St.
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