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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A freestanding 256sqm office building in East Brisbane was purchased for $1.25 million by Robert Ross who will be operating his finance and accounting business, Ross Financial, from the premises.
Ross Financial wanted to consolidate their business under one roof as they occupied two different offices in Fortitude Valley.
Guy Stafford, Philip O’Dwyer and Richard Blanch of Colliers International marketed the <a href="https://www.realcommercial.com.au/property-offices-qld-east+brisbane-501422679" target="_blank">26 Didsbury Street </a>property via an expression of interest campaign.
During the negotiations Mr Ross asked for 8 weeks of due diligence period as he needed to sell his strata offices in Fortitude Valley that they occupied at the time.
Mr Stafford said during that due diligence period they were exclusively appointed by Mr Ross to sell his Fortitude Valley properties.
“We managed to sell Ballow Street property within two weeks of it being on the market, and Wickham Street within four weeks."
Unit 1 at 27 Ballow Street is an 117sqm office that was sold for $455,000 to a local owner occupier, and the second property at 72/269 Wickham Street sold for $425,000 to a local investor, who has exclusively appointed Colliers International to lease the 127sqm office space.
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j.ballantyne1990-6AQqhLzZaK

Swift dealings in the Brisbane fringe office market

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Lot 401 California Blvd, in Peregian Beach has sold for $1.1 million.
Located in the brand new community Peregian Breeze, a child care operator has purchased this site at $397/sqm or $14,667/childcare place based on a 75 child centre – a record value for the region.
Peregian Breeze Childcare and Retail sites were marketed via a national expressions of interest campaign through senior executive special projects agent Baydn Dodds – Colliers International.
"The Market demonstrated a high level of interest for the childcare site due to its location in the emerging high quality Peregian Breeze estate" says Mr. Dodds.
Several offers were made for the site and eventually purchased unconditionally by Big Day Out Care and Education.
Big Day Out Care &amp; Education are a locally owned and operated early childhood service. 
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Sunshine Coast Peregian Breeze site sells for $1.1 million

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A fully tenanted refurbished corporate office building at Nunawading in Melbourne’s eastern suburbs has been sold by Ray White Commercial for $3 million.
The two level building at <a href="https://www.realcommercial.com.au/property-offices-vic-nunawading-501113691" target="_blank">1-3 Rooks Road, Nunawading</a>, was sold to a local investor/developer by Brett Diston of Ray White Commercial Victoria on behalf of a private owner at a yield of 7.0%.
Mr Diston said the 840 sqm building is fully tenanted with Ray White Commercial and St John of God Accord holding five year leases for office tenancies on the ground floor.
“Level one is supported by three tenants who are all on three year leases and the building is currently returning net rental income of $210,000 per annum,” he said.
Mr Diston said the building had recently been refurbished with plenty of on-site parking available.
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Nunawading office building sold for $3 million‏

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eCommerce agency Netstarter is offering its former office at Surry Hills for lease.
The group, which has 15 offices across Australia and New Zealand, will expand into premises available in North Sydney through parent company, Salmat.
The vacant tenancy comprises approximately 600 sqm of office space and is located at Level 4, 68-78 Wentworth Avenue, Surry Hills.
The property is being marketed by Ray White Commercial South Sydney’s John Skufris.
"The Netstarter office space provides a plug and play solution for more than 30 staff, with main offices and meeting rooms, an oversized kitchen/breakout area and timber flooring throughout," he said.
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Netstarter office now for lease in Surry Hills

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A Melbourne based investor overcame strong competition from rival bidders to pay $2.89 million on a yield of 4.7% for the Prince Alfred Hotel at Port Melbourne on Melbourne’s bayside fringe.
It was at an auction conducted by CRS Property with Teska Carson.
Teska Carson’s Anthony Choi and Michael Ludski, with Lou Montalti and Ian Robertson of CRS, offered the <a href="https://www.realcommercial.com.au/property-hotel+leisure-vic-port+melbourne-501634445" target="_blank">355 Bay Street </a>property.
It attracted more than 80 enquiries and four bidders.
Choi said investors had been attracted to the very popular Bay Street location along with the secure lease to a well-established tenant.
"This is an extraordinarily well located property in the heart of one of Melbourne’s most popular inner-bayside suburbs with a new six year lease to a well-regarded tenant.
"Ultimately the property was purchased by an astute investor cognisant of the solid rental returns and potential for capital gain in such a desirable city fringe location,’’ Choi said.
Located between Spring and Raglan streets on a 300 square metre corner site, the property comprises a, 500 square metre, two level period brick building including a ground floor hotel, bar and dining area, eight bedrooms upstairs, and an outdoor area.
The property was sold subject to a new six year lease with three further six year options to Schultze Hotels Pty Ltd at a current rental of $137,000 per annum.
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Investor takes Port Melbourne hotel with $2.89m bid‏

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A freehold commercial building leased by the Commonwealth Bank of Australia in the Latrobe Valley town of Morwell, east of Melbourne, has been sold by Ray White Commercial for $1,060,000.
The building on a prominent corner site at <a href="https://www.realcommercial.com.au/property-offices-vic-morwell-500833223" target="_blank">200 Commercial Road, Morwell</a> was sold to an investor by Brett Diston of Ray White Commercial Victoria on behalf of a private owner for a yield of 7.0%.
Mr Diston said the approximately 420 sqm building offered a fantastic investment opportunity.
“The Commonwealth Bank is a long term tenant in the building with a 5+3 year lease in place,” he said.
“The property returns net rental income of approximately $75,000 per annum with 5% annual rent increases.
“It’s money in the bank for our astute purchaser.”
Morwell is located approximately 150km east of Melbourne and is the administrative centre for the Latrobe Valley, the energy production centre for Victoria.
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Freehold Morwell Bank investment sold for $1,060,000‏

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The Stock Hotel, located at the centre of Toowoomba in Queensland’s Darling Downs, is being offered for sale by Ray White Hotels Australia.
The hotel located at 162 Anzac Avenue, Harristown, in Toowoomba’s south-west is being marketed via expressions of interest by Leon Alaban and Christian Tsalikis of Ray White Hotels Australia.
Mr Alaban said the Stock Hotel is located on a prominent position on busy Anzac Ave and enjoys excellent vehicular exposure.
“The Stock Hotel presents a strong cash flow business with solid revenue across all departments,” he said.
Mr Tsalikis also mentioned the Toowoomba region was benefiting from a number of key developments such as the second range road crossing – the largest regional road project in Queensland’s history.
Expressions of interest for the Stock Hotel close at 4pm on Wednesday, September 23, 2015.
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Freehold Hotel in Toowoomba for sale‏

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Brisbane’s western fringe strata office and retail market has remained strong despite the period of economic uncertainty which has had a negative impact on the CBD market, according to Ray White Commercial research.
Vanessa Rader, Head of Research for Ray White Commercial, said the strata office market has experienced improvement in investment turnover since 2014 with significant investment in the retail side.
“Activity in the strata office market in the western fringe has shown a pickup in activity due to increased interest by opportunistic investors capitalising on historical low interest rates,” she said in the Between the lines Milton &amp; Toowong strata market report August 2015.
“Quality or premium type assets have been sought after by investors, achieving capital values in the region of $17,000 per sqm.
“These properties are typically those well located on Park Road, Milton, and have secure long term restaurant leases.
“These highs exceed those capital values achievable within the CBD, highlighting the confidence in this location.
“Prime retail assets are more reasonably priced in the $8,000 per sqm to $12,000 per sqm range and are also strongly food or convenience driven tenancies in locations such as Sherwood Rd, Toowong.”
Ms Rader said rents achievable vary depending on the quality of the assets.
“Premium assets in terms of location, size and access demand rents up in the $800 per sqm to $1,050 per sqm gross face range,” she said.
Ms Rader said while some areas in the western fringe have a high vacancy rate, it’s a different story for a number of quality assets in Milton.
“The sought after Camford Square development in Milton as well as the historic terraces at 249 Coronation Drive, Milton, and 15 Lang Parade, Auchenflower, are indicative of successful strata properties which consistently have close to full occupation,” she said.
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Brisbane western fringe strata market remains strong‏

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A Fortitude Valley retail suite has been sold under the hammer for $1,670,000, some $320,000 above reserve.
The 1,000 Ann Street, Fortitude Valley was hotly contested with a total of 30 bids coming from five registered bidders, a mix of local and interstate prospective purchasers.
A local private investor secured the 132m² quality retail suite with the $1.67 million bid.
Hunter Higgins, associate director of investment services at Colliers International who marketed the property said the security of the asset with the long lease term positioned in the high growth corridor drove the spirited bidding competition.
“The vendor was originally going to consider offers off market, however our advice was to run an auction campaign to get more exposure and achieve maximum sale price, in this case well above vendor’s expectations."
“The property is ideally located in the vibrant and prestigious Emporium complex with a captive consumer market consisting of four residential towers, hotel facility and office building."
“There is future influx of prospective consumers with over 2,000 new residential units being developed within 500m of Emporium, so any tenants in the café/restaurant trade are ideally suited for this property and will benefit from this population growth.”
Picture courtesy of <a href="https://www.realestateview.com.au" target="_blank">realestateview.com.au</a>.
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Bite size investment sells for $320,000 above reserve

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An owner-occupier is believed to have paid a record price for a 20 year old office and warehouse complex at Dandenong South in Melbourne’s south-east.
It was in an off-market deal brokered by Savills Australia’s Notting Hill Office.
Savills’ senior industrial executive, Paul Jones, who negotiated the deal with director, Kosta Filinis, could not disclose the price.
However local sources put the price at around $8 million.
Located at 6 Advantage Drive, the property comprises two office and warehouse facilities of 2700 square metres and 5000 square metres on one 14,000 square metre title with 55% site coverage.
Mr Jones said the buyer was attracted by the location, close proximity to all main arterial road networks and the extensive infrastructure (power and gas).
Mr Filinis said the price, considered to be a premium for the area, reflected the location in one of the most tightly held precincts in the south-east.
The property was sold with vacant possession.
Image courtesy of <a href="https://www.onthehouse.com.au" target="_blank">onthehouse.com.au</a>
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