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

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

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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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>
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<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>
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<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>
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<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>
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<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>
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<div>Moreover, significant increases in demand cannot be absorbed by new supply of prime location land, quite simply because there is none.</div>
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<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>
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<div>Indeed. I wrote about this very same issue - "substitutability" - some time ago. </div>
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<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>
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<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>
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<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>
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<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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