Around 400 additional homes could be built at Southwark Grounds on Port Road, lifting total site capacity from 1300 to around 1700 dwellings.

A recently approved code amendment would allow apartment towers of up to 14 storeys in some areas of Renewal SA’s redevelopment of the former West End Brewery.

Renewal SA Acting Chief Executive Shane Wingard said he welcomed the code amendment, with the increase in heights and homes making a positive impact on the supply of high-quality, well-connected housing close to the city.

“By going higher across some parts of Southwark Grounds, we are adding a substantial number of very well-located homes with little impact on project delivery time or planned open space,” Mr Wingard said.

Since the project officially launched in 2025, Mr Wingard said more than 12,000 enquiries had been received about living at Southwark Grounds.

“The very strong early interest we’ve seen since homes were first released in the precinct reinforces our plans to create more housing opportunities,” he said.

The Southwark Grounds code amendment was launched in December last year, with community engagement undertaken over five weeks from January.

It proposed increasing maximum building heights from eight to 14 storeys on the eastern section of Southwark Grounds, and to 12 storeys across the remainder of the site, with minimum building heights ranging from two to four storeys.

The code amendment was implemented through an Early Commencement policy in late January, allowing developers to quickly explore the viability of increased height and housing yield while other planning processes continue.

One of the first developers delivering apartment sites have already finalised redesigns to increase the number of apartments following the code amendment.

Samaras’ development adjacent to the future Colonel Light Park is now planning to deliver 125 apartments across 11 storeys, significantly greater than original plans of around 50 apartments across four storeys.

The developer is also exploring the potential for additional affordable housing outcomes.

Most of the apartments at Southwark Grounds will be delivered within a master-planned precinct on a large parcel of land on the eastern portion of the site, covering around two-thirds of its 8.4 hectares.

Wingard said detailed precinct planning over the coming months may identify further opportunities to increase yield further that could see total apartment numbers at Southwark Grounds, exceed this number.

Affordable homes at Southwark Grounds will also see a net increase, with Renewal SA maintaining its commitment to a minimum of 20 per cent affordable housing across the development.

&nbsp;

&nbsp;

Civil works have begun across the site, with construction under way on the first new roads surrounding a townhouse precinct in the south‑west corner of Southwark Grounds. This includes Renewal SA’s 17 Founder’s Row homes, which are on track for completion by Christmas.

“We expect to have people living at Southwark Grounds by the end of the year, so delivering roads and public spaces for those residents is among our highest priorities.”

Construction of 40 townhouses off Anderson Street, known as West Village and being delivered by Contour, is forecast to begin in mid‑2026. Kolabb’s Anderson Lane development will follow shortly after, delivering a further 26 townhouses.

Southwark Grounds is a state government‑led urban renewal project now set to deliver around 1,700 homes over the next decade.

Homes will be supported by a supermarket, a range of retail and hospitality offerings anchored by a revitalised Walkerville Brew Tower, a childcare centre, car parking and well‑connected public spaces.

Joel Robinson

400 new homes planned for Adelaide's former West End Brewery site

Brisbane developer&nbsp;<a href="https://www.apartments.com.au/developers/cavcorp">Cavcorp</a> has lodged plans for a new mixed-use residential development at <a href="https://www.apartments.com.au/new-apartments/55-wyandra-street-teneriffe-qld-4005">55 Wyandra Street</a>, Teneriffe, anchored by an 85-metre public laneway designed to reconnect the suburb’s riverfront with the Gasworks precinct.

The buildings, known as Teneriffe House and Teneriffe Lane, would replace the existing Queensland Cotton head office site with a 15-storey residential tower transitioning to eight storeys toward Helen Street. The project has been designed by Plazibat Architects and lodged as a code assessable development application for 93 apartments across a 3,401 sqm mixed-use site within the Newstead and Teneriffe Waterfront neighbourhood plan.

Central to the scheme is the transformation of an existing service easement into a publicly accessible cross-block connection linking Wyandra and Helen Streets. Cavcorp says the new laneway will act as both a pedestrian shortcut and a landscaped civic space between the Teneriffe Riverwalk, ferry terminal, and Gasworks precinct.

<img alt="First Look: Cavcorp unveils Teneriffe House and Teneriffe Lane plans for landmark wellness tower in Teneriffe" data-entity-type="file" data-entity-uuid="26e7f058-b065-4de8-b13d-a2b8cb64dfcc" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/bldg.png?VersionId=sELS0ZKYi361oYipUa1BIKfe_.DLZoFV" />

“The revised proposal delivers a legacy public-realm cross-block link, permanently secured for community use, transforming an existing private easement into a safe, high-quality pedestrian connection between the Teneriffe heritage riverwalk and the Gasworks–Long Island precinct,” the planning report states.

The laneway will sit beneath a large subtropical loggia integrated into the podium levels of the development. The design incorporates deep landscaping, water gardens, lobby spaces, business lounges, and ground-floor apartments to create what Cavcorp describes as a climate-responsive “urban verandah.”

The tower itself has been designed as a slender form with recessed floorplates and curved translucent corners inspired by contemporary Japanese architecture. The building height aligns with the Commercial Road precinct controls, which permit towers up to 15 storeys within proximity to Longland Street.

<img alt="First Look: Cavcorp unveils Teneriffe House and Teneriffe Lane plans for landmark wellness tower in Teneriffe" data-entity-type="file" data-entity-uuid="a8a17d40-43b6-4718-b3fd-67676fcbb485" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/pers%202_1.png?VersionId=i3VwDtp5AmL_8InW7w4qRbDFEpb744Jt" />

The project will comprise a mix of larger-format apartments aimed at owner-occupiers, downsizers, and families. The proposed apartment mix includes 11 loggia apartments across the lower levels, 50 four-bedroom Sky-Terrace apartments from levels three to seven, and 32 Sky-Pool Homes occupying the upper tower levels. The Sky-Pool Homes will feature private thermal plunge pools integrated into oversized balconies.

According to the application, the apartments are intended to reinterpret the scale and character of Teneriffe’s woolstore conversions and Queensland homes within a vertical residential format.

“The sky-pool homes build on Cavcorp’s previous projects and introduce a distinct apartment typology to Teneriffe, informed by both local and international precedent and responding to an identified market demand for enhanced safety, space and amenity,” the planning submission notes.

A major focus of the proposal is its five-level wellness and lifestyle offering, extending from the basement through to the rooftop.

Amenities proposed include a rooftop Swim &amp; Racquet Club with a 25-metre Olympic lap pool and tennis court, coworking spaces and libraries, golf simulators, wine storage, concierge facilities, business lounges, pet wash areas, and rooftop longevity-focused wellness spaces with spas, outdoor fitness zones, and landscaped terraces.

<img alt="First Look: Cavcorp unveils Teneriffe House and Teneriffe Lane plans for landmark wellness tower in Teneriffe" data-entity-type="file" data-entity-uuid="944b352c-49b9-4247-a4c6-5967b4b69fda" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/amenity.png?VersionId=Ed_qKjAtMwFT.5gfl3jiA9QwdWxSMsaX" />

All parking will be concealed within basement levels accessed from Wyandra and Helen Streets. Cavcorp says the deep-basement engineering approach allows the entire ground plane to prioritise landscaping, pedestrian movement, and active frontage rather than vehicle infrastructure.

The development continues Cavcorp’s concentration in Newstead and Teneriffe, where the Brisbane developer has delivered a number of apartment projects including Lucent, Le Bain, and Luminare, as well as the Long Island Wellness Precinct nearby. Several of those projects have received national design and architecture awards, including recognition under Brisbane’s “Buildings that Breathe” program.

Cavcorp unveils wellness-focused Teneriffe House and Teneriffe Lane apartment buildings

Focus Group Investments has lodged plans for a new apartment development at <a href="https://www.apartments.com.au/new-apartments/64-70-hanover-street-fitzroy-vic-3065">64–70 Hanover Street</a> in Fitzroy, seeking to utilise the Victorian Government’s recently introduced Great Design Fast Track pathway to accelerate approvals for the project.

The proposal is among the latest developments to emerge through the state-led initiative, which was established to fast-track well-designed residential projects in activity centres and transport-connected inner-city locations. The pathway allows qualifying developments that meet elevated design and housing benchmarks to bypass traditional council planning timeframes and instead be assessed directly by the Department of Transport and Planning.

Designed by SJB, the development will comprise a mix of apartments above activated lower levels, with a strong focus on architectural articulation, landscaping, and communal amenity. The design response seeks to balance the industrial character of Richmond’s former warehouse precincts with a more contemporary residential form.

<img alt="First look: Focus Group Investments taps Victoria’s Great Design Fast Track for Richmond apartments" data-entity-type="file" data-entity-uuid="abea51cc-d85b-479e-9aef-a589f3b37ca7" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/ground.png?VersionId=e1Kf8EyPWwyiVumtqQ4rM5S4GpOR3CCz" />

Proposed are 63 new dwellings, a wide ranging mix of studio, one-, two-, and three-bedroom apartments, and townhouses and duplexes. They will be spread across a part-three, part-eight storey building.

The Planning and Urban Context Report by Tract says the development is of an "exemplary architectural standard" and has been carefully crafted by SJB Architects.

"Dwellings&nbsp;will benefit from excellent access to natural light, cross-ventilation opportunities and extensive communal space," the report noted.

The architectural material highlights the project’s integration of landscaped elements and communal spaces throughout the building. The proposal also incorporates sustainability initiatives aligned with the Victorian Government’s push for higher-performing apartment developments under the fast-track program.

The Great Design Fast Track was unveiled by the Victorian Government in 2024 as part of a broader housing supply strategy aimed at accelerating the delivery of new homes. Projects assessed through the pathway must demonstrate high-quality architecture, sustainability outcomes, and housing diversity while being located close to public transport and existing infrastructure.

<img alt="First look: Focus Group Investments taps Victoria’s Great Design Fast Track for Richmond apartments" data-entity-type="file" data-entity-uuid="afdbe834-8dc4-4a77-a943-ba07bc927348" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/site_11.png?VersionId=0J657j.TaChAZfp93wqJYBTqSsnREJx2" />

Focus Group, founder and led by Paul De Lutiis, is increasingly active across Melbourne’s inner suburbs, targeting well-connected urban renewal locations suited to medium and higher-density residential development. The Fitzroy proposal continues that strategy, leveraging the area’s strong transport links, established retail amenity, and proximity to the CBD.

Fitzroy has been one of the most popular spots for developers and buyers in recent years. The likes of PACE Development Group, SMA Projects, Crema Group and Chapter Group, currently selling projects in the suburb.

First look: Focus Group Investments taps Victoria’s Great Design Fast Track for Fitzroy apartments

The Gold Coast Planning Committee has supported the preliminary approval for the Benowa Gardens Urban Village project following an extensive community consultation and assessment process.

The proposal will now proceed to a full council vote on June 2.

The application sought approval for a masterplanned urban village on the existing Benowa Gardens Shopping Centre site, combining new housing, retail, dining, health and lifestyle amenities within a walkable, integrated precinct.&nbsp;

The proposed redevelopment includes around 413 apartments integrated above a revitalised mixed-use centre featuring a full-line supermarket of 4,000 sqm, 6,000 sqm of specialty retail and dining space across around 30 retailers, a 7,000 sqm health and wellness precinct, and roughly 9,630 sqm of office and medical suites.&nbsp;

<img alt="$1b Benowa Gardens Urban Village moves to Full Council following Planning Committee support" data-entity-type="file" data-entity-uuid="fb36ae47-80bc-45f0-9914-31b0c7b6007d" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/PR26576%20Ashmore%20Road%20C4%201121%20FI.jpg?VersionId=6mRKk2uU4r67TmTt39DKGUlvFRbTVqWa" />

The broader masterplan also includes very significant traffic and transport improvements, wide pedestrian walkways, upgraded pedestrian and cycle connections, and enhanced public areas designed to create a more connected and walkable community environment.&nbsp;

Centre owner Patrick Lu said the milestone reflected months of detailed planning, technical assessment and ongoing communication with local residents, businesses, schools and stakeholders.

“We appreciate the time, consideration and care Council officers and the Planning Committee have given this proposal throughout the assessment process,” Lu said.

“We also sincerely thank the local community for engaging with us, sharing feedback and participating in the consultation process over many months.

<img alt="$1b Benowa Gardens Urban Village moves to Full Council following Planning Committee support" data-entity-type="file" data-entity-uuid="32fd1fc3-d0e6-485f-ac57-9916c9bcb818" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/PR26576%20Ashmore%20Road%20C5%201121%20FI_2.jpg?VersionId=fz8qQKDBLQ7MyFRc856Zccfbh9nFwLOe" />

“We understand projects of this scale bring questions and concerns, which is why we have worked hard to listen carefully, provide information transparently and continue refining elements of the proposal where possible.

“Our vision has always been to create a well-designed, community-focused urban village that responds to the changing needs of the Gold Coast, while delivering improved amenity, housing diversity, healthcare access and local lifestyle benefits.

“This proposal is about creating a genuine live-work-play environment where residents can access everyday services, schools, healthcare, dining, shopping and green space within walking distance, while also supporting local jobs and economic activity.”

<img alt="$1b Benowa Gardens Urban Village moves to Full Council following Planning Committee support" data-entity-type="file" data-entity-uuid="50dfbd04-590e-4fc6-983b-766880947867" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Dining%20Day%20Time%20-%20High%20Resolution.jpg?VersionId=BP7ZoKJ0DdL_8iRkkC8VVx99moICV6kg" />

Lu said the proposal had evolved significantly through consultation and technical review, particularly around traffic, pedestrian and student safety and neighbourhood connectivity.&nbsp;

Melissa Griffin, Director at Urbis, said the recommendation recognised the strategic importance of delivering more housing and services within established urban areas already supported by infrastructure.

“This proposal represents the type of thoughtful, integrated growth that planning frameworks across South-East Queensland are encouraging,” Ms Griffin said.

“The project seeks to place housing, retail, healthcare and employment opportunities together in a highly accessible location close to schools, transport and existing services.

“Importantly, the process has involved significant technical assessment and community engagement to ensure local issues and feedback were properly considered throughout the planning pathway.”

$1 billion Benowa Gardens Urban Village heads to council vote following Planning Committee support

Surfers Paradise is officially set for its first new residential development with a 45-storey skybridge connecting the two towers.

John Camilleri’s Celestino Developments has been given the green light by the Gold Coast City Council to develop its major beachfront precinct across its huge 4,000 sqm oceanfront site at <a href="https://www.apartments.com.au/new-apartments/63-79-garfield-terrace-surfers-paradise-qld-4217">63–79 Garfield Terrace</a>, just five months after its <a href="https://www.apartments.com.au/news/qld/first-look-exclusive-billionaire-winx-breeder-s-bold-two-tower-surfers-paradise-play-with-45th-storey-skybridge">submission in late 2025</a>.

The approved scheme will deliver two towers rising 55 and 48 storeys, connected by a skybridge positioned on level 45 that will house a range of resident-only wellness and entertainment spaces.

In its notice of approval, the Gold Coast City Council said the&nbsp;proposed overall built form has been designed to complement the scale, intensity and protect the adjacent amenity and surrounding streets through the use of varied setbacks, site cover and architectural elements.

<img alt="First look exclusive: Billionaire Winx breeder’s bold two-tower Surfers Paradise play with 45th-storey skybridge" data-entity-type="" data-entity-uuid="" src="https://res.cloudinary.com/dz9xllyip/image/fetch/f_auto,c_limit,w_1440,q_75/https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/field/image/Screenshot%202025-12-30%20at%209.53.48%E2%80%AFAM.png?VersionId=ADyPJ_TFbJvSU9wZFOiCBnlPtgF7VWqW" />

Designed by <a href="https://www.apartments.com.au/architects/dbi">DBI</a>, the development will comprise 275 apartments across the two towers, including a mix of two-, three-, and four-bedroom residences, as well as several penthouses. The apartments will sit above a landscaped podium featuring more than 90 metres of beachfront pool frontage, private resident lawns, lounges, and wellness spaces.

DBI said the design draws heavily from the movement and form of the coastal environment, with curving balcony lines and sculpted façades intended to soften the scale of the towers while maximising ocean outlooks and passive shading outcomes.

“The project occupies a rare, uninterrupted oceanfront site and has been shaped by a design philosophy that merges architectural elegance with environmental responsiveness and a carefully curated lifestyle experience,” DBI said in planning documents submitted to the Gold Coast City Council.

The most distinctive element of the approved project is the skybridge linking the two towers at level 45. The elevated communal space is planned to include executive lounges, formal dining areas, wellness facilities, and panoramic ocean-facing outlooks.

“The skybridge enhances the identity of the development, promotes social interaction, and delivers a lifestyle experience not found elsewhere on the Gold Coast,” DBI said.

At podium level, residents will have access to a suite of resort-style amenities, including resident lounges, private dining rooms, a yoga lawn, gymnasium, plunge pools, and treatment spaces. The beachfront pool has been designed with separate lap, lounge, and children’s areas extending across the width of the site.

The project will also introduce new food and beverage offerings along the Enderley Avenue and Oceanway frontages, contributing additional activation to the beachfront precinct.

First look: Winx billionaire’s beachfront Surfers Paradise apartment development greenlit

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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Clifton, a historic estate in Tasmania's Ranelegh, is on SQM Research's top 10 most discounted properties list, with its asking price halved.
The circa 1850 property, with a main house that dates back to 1865, has been on the market for more than two years. The Huon Valley home remained in the same family until it was first sold in 2000, and has since been used as both a family home and as a bed and breakfast.
The property includes a 25 bedroom house and gardens, which are listed by the National Trust. There are also two separate guest cottages, parklands and paddocks. Clifton was first listed for $2 million 743 days ago, and is now listed with an asking price of $995,000.
<h3>SQM Research's top 10 most discounted properties:</h3>
<ol>
<li>
1/35 Empire Drive, Kincumber, NSW   Initial listing price: $889,000  Now asking: $400,000  Reduction: 55%  Days on market: 380 
</li>
<li>
2 Louisa Street, Ranelagh, Tas   Initial listing price: $2 million  Now asking: $995,000  Reduction: 50%  Days on market: 743 
</li>
<li>
118 Queen Street, Oberon, NSW   Initial listing price: $299,000  Now asking: $149,000 Reduction: 50%  Days on market: 813 
</li>
<li>
 Gymea Bay, NSW   This property's details have now been corrected, and it is no longer included on SQM Research's Top 10 list. It has been removed from the article at SQM Research's request. 
</li>
<li>
6 Gatumba Street, Myora, Dunwich, QLD   Initial listing price: $1.5 million  Now asking: $825,000  Reduction: 45%  Days on market: 260 
</li>
<li>
8/109 Mitchell Street, Brunswick, Vic   Initial listing price: $670,000  Now asking: $390,000  Reduction: 42%  Days on market: 168 
</li>
<li>
948 Priestdale Street, Rochedale, QLD Initial listing price: $2.8 million  Now asking: $1.65 million  Reduction: 41%  Days on market: 540 
</li>
<li>
78 Walters Road, Wattle Grove, Tas Initial listing price: $1.15 million  Now asking: $675,000  Reduction: 40%  Days on market: 414 
</li>
<li>
10 Jenkins Court, Upper Coomera, QLD Initial listing price: $1.15 million  Now asking: $700,000  Reduction: 39%  Days on market: 434 
</li>
<li>
114 Attfield Street, Maddington, WA   Initial listing price: $629,950  Now asking: $385,000  Reduction: 39% Days on market: 512</li>
</ol>
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jrichardson-uRX5hFdKfN

Historic Tasmanian estate on SQM's most discounted list

The cheapest Pitt Street mall retail rents match the highest retail elsewhere in the Sydney CBD, according to the latest Savills International research.

Retail rentals were between $1,000 a square metre net and $4,500 a square metre net for CBD tenancies outside&nbsp;Pitt&nbsp;Street&nbsp;Mall&nbsp;and from $45,00 a square metre net to $10,000 a square metre net within the&nbsp;Pitt&nbsp;Street&nbsp;Mall.

<img alt="" src="/images/2015/04/08/savills-april-8-bre.jpg" />

Market yields range between 5.5% and 8%, the <a href="https://pdf.savills.asia/asia-pacific-research/australian-research/australia-retail/savillsresearch-quarter-times-sydney-retail-q1-2015.pdf" target="_blank">Savills Q1 Sydney retail report</a> said.&nbsp;

In 2009 Savills noted gross retail rentals were between $750 a square metre and $6,000 a square metre gross for CBD tenancies outside&nbsp;Pitt&nbsp;Street&nbsp;Mall&nbsp;and from $5,000 a square metre to $13,600 a square metre gross within the&nbsp;Pitt&nbsp;Street&nbsp;Mall, with the biggest premiums paid for&nbsp;street-front areas with&nbsp;high-end brands gravitating increasingly towards historic buildings in the area for high-exposure boutique retail stores.

Picture courtesy of &nbsp;<a href="https://commons.wikimedia.org/w/index.php?title=User:Mw12310&amp;action=edit&amp;redlink=1" title="User:Mw12310 (page does not exist)">Mw12310</a>/&nbsp;<a href="https://www.propertyobserver.com.au/https://creativecommons.org/licenses/by-sa/3.0" target="_blank">CC BY-SA 3.0</a>.

jchancellor-FAypfDUnLy

Pitt Street mall retail rents can be $10,000 a square metre: Savills

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Troubled Vietnamese restaurant chain MissChu has been sold to a company controlled by <a href="https://www.smartcompany.com.au/leadership/profiles/30077-nahji-chu" target="_blank">MissChu founder Nahji Chu</a> for an undisclosed price.  
KordaMentha confirmed the sale of the MissChu business this morning to MissChu Holdings, a company controlled by the Mawson Group and Nahji Chu.
Rahul Goyal and Janna Robertson of Korda Mentha were appointed as administrators of MissChu in December last year.
The MissChu business operates six retail tuckshops and a catering business in New South Wales and at its height it was turning over $20 million a year.   
The Melbourne MissChu businesses were not affected by the voluntary administration and <a href="https://www.smartcompany.com.au/finance/45365-misschu-to-close-london-store-economic-data-points-to-slowing-chinese-economy-midday-roundup" target="_blank">the London store closed in January</a>.
Chu fought hard to save her business, <a href="https://www.smartcompany.com.au/finance/cashflow/45494-weneedchu-misschu-takes-to-social-media-in-attempt-to-keep-chain-afloat" target="_blank">launching a #weneedchu campaign</a> on social media in an attempt to keep her business afloat.
She has <a href="https://www.smartcompany.com.au/finance/45514-misschu-founder-nahji-chu-how-the-ato-cost-me-my-business" target="_blank">previously blamed the Australian Tax Office</a> for the collapse of MissChu, an allegation the <a href="https://www.smartcompany.com.au/finance/tax/45602-ato-hits-back-at-misschu-after-being-blamed-for-its-demise" target="_blank">ATO strongly disputed</a>.
The sale to Chu followed what KordaMentha described as an “extensive marketing campaign” where approximately 60 expressions of interest were received.
KordaMentha sought final offers from the preferred bidders and proceeded to accept the best offer that was able to be completed.
The settlement is due to take place in about 15 business days.
Goyal said in a statement that the administrators conducted an “extensive marketing campaign”.
“KordaMentha conducted a broad sale process, and we are pleased that the business can continue as a going concern and that jobs could be preserved,” he said.
Goyal said a scheduled report to creditors and second meeting of creditors will provide further information on the likely outcome for unsecured creditors and employees from the administration.
Sixty employees <a href="https://www.smartcompany.com.au/finance/45153-i-m-hurting-and-i-m-working-through-it-misschu-founder-says-the-restaurant-chain-will-trade-through-voluntary-administration" target="_blank">were terminated in January</a>. 
KordaMentha said all the New South Wales outlets would remain open.
SmartCompany contacted Chu for comment but did not receive a response prior to publication.
This article first appeared on <a href="https://www.smartcompany.com.au/" target="_blank">SmartCompany</a>.
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cwaters-YrtBR88nBe

Nahji Chu buys MissChu business back out of administration

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AMP Capital has announced Kylie O’Connor as the fund manager of the $4.2 billion AMP Capital Diversified Property Fund (ADPF).
Reporting to AMP Capital Head of Property Funds Management Chris Judd, O’Connor replaces incumbent Louise Joslin, who is retiring from executive roles. 
O’Connor will commence her new role in mid-2015 having worked for Lend Lease for the past 14 years, most recently as fund fanager for several funds.
The AMP Capital Diversified Property Fund includes the newly-developed Macquarie Centre in Sydney; Pacific Fair on Queensland’s Gold Coast, which is currently undergoing significant re-development; and potential developments at Garden City Booragoon in Western Australia and Quay Quarter Sydney.
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AMP Capital appoints Kylie O'Connor as property fund manager

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The Eureka Group has bought the Elizabeth Vale seniors living village in South Australia for $4,386,000.
It takes Eureka's holdings under company management to 1,343 units with 373 under company ownership.
The village, known as Elizabeth Vale 2, is currently 93% occupied and expected to generate earnings before interest, taxes, depreciation, and amortization of $460,000 per annum, excluding Eureka's existing management fee of $140,000 per annum.
The acquisition includes 45 freehold units and a first mortgage loan book secured against 12 other units in this village.
This village is adjacent to Elizabeth Vale 1.
The Elizabeth Vale 2 addition increases Eureka’s units under ownership to 374 with a total of 1,343 units under company management. 
Last month it executed a conditional contract to acquire a large rental village in Lismore, New South Wales for $4 million, the seventh freehold village Eureka has acquired in the last 16 months. 
The Lismore village will be known as Eureka Cascade Gardens Lismore and currently houses 80 permanent tenants with some short-term accommodation. 
The group strategy has seen Eureka move from operator only, to an owner/operator/manager model.
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Eureka Groups buys Elizabeth Vale seniors living village

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A portfolio of seven petrol stations will be auctioned at the next Burgess Rawson Melbourne portfolio auction.
All the sites have 10 to 15 year leases to petrol retailers.
They are expected to sell from about $850,000 for the Katanning Woolworths Caltex in regional Western Australia, to $5.5 million for a BP in Seaford in Melbourne's south-east.
Burgess Rawson said yields for petrol station investments had fallen in the last 18 months to below 5% for the best metropolitan sites.
Burgess Rawson and Newtons Real Estate are conjunctional agents for the 15 April auction.
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Seven petrol stations set for Burgess Rawson April auction

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The Japanese retailer Uniqlo will lease stores in Sydney's Westfield Miranda and Parramatta malls.
Uniqlo opened last year in AMP Capital's expanded Macquarie Centre.
Its flagship store is in Emporium Melbourne.
Both stores will be just over 1,000 square metres.
Australia Uniqlo chief Shoichi Miyasaka said it had received a "very positive response" from the local market since its opened its first store in Sydney.
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Uniqlo set for Westfield's Miranda and Parramatta malls

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McLaren Vale winery Wirra Wirra has acquired the boutique Ashton Hills Vineyard in the Adelaide Hills.
The 3 hectare vineyard produces grapes for pinot noir wines.
The sale, at an undisclosed price, was brokered by Toby Langley of Gaetjens Langley, according to The Australian Finncial Review.
It is a very small winery in the European mould established in 1982 by the legendary winemaker Stephen George. 
The fine elegant wines, plus bigger bodied wines made for the second label, Galah, are available for tasting at the friendly and bucolic cellar door, where the winemaker is often in attendance.
<a href="https://www.wineryforsale.com.au/for-sale/ashton-hills" target="_blank">The 3.07 hactare vineyard</a><a href="https://www.wineryforsale.com.au/for-sale/ashton-hills" target="_blank"> </a>comprises 2.69 hectares of Pinot Noir and 0.39 hectares of Riesling.
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Ashton Hills Vineyard in the Adelaide Hills sold

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The disruptive insurer Youi plans to build its new head office and call centre on Queensland's Sunshine Coast.
The new $80 million Sippy Downs facilities will replace the general insurer's leased premises 10 kilometres away in Birtinya.
Sippy Downs is home to the University of the Sunshine Coast.
Modest financial incentives were offered to Youi to locate its headquarters, according to the Mayor Mark Jamieson, who said it was the largest non-government related investment in Sunshine Coast's history.
Youi was launched in 2008 by its South African parent company, Rand Merchant Holdings Group.
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Youi plan $80 million Sunshine Coast headquarters

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An older style warehouse with redevelopment potential at Camperdown in Sydney’s inner north-west has been sold by for $1.25 million.
The two level brick warehouse at 115 Salisbury Road, Camperdown was sold by Ray White Commercial Inner West agent Tim Morrison.
The corner location was offered vacant possession, with a floor area of 425 square metre zoned B1, which allows for a variety of uses such as a child care centre, bed and breakfast, student accommodation or shop top housing.
The new owner is looking to lease the property.
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