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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A Tamanian buyer outbid national and international contenders to secure The Sebel Launceston.
It is a 4.5-star CBD apartment hotel sold for close to $10 million, the first time since opening in 2005.
It was listed through national specialist accommodation and hospitality property agency, Resort Brokers Australia by its original developer, Tasmanian Boutique Hotels Pty Ltd.
Resort Brokers Australia national sales manager Trudy Crooks says there were 30 genuine enquiries.
The sale of the freehold land and buildings component showed a 9% return while the leasehold sold on a 26% return, she said.
The Sebel Launceston, on the corner of St John and Williams streets, features 49 self-contained one and two bedroom suites, the popular Market Square Restaurant, two dedicated conference venues, a gymnasium, courtyard and large reception and lounge with open fire.
Designed by Launceston’s Artas architects, it features Tasmanian stone and timbers, showcases locally-commissioned art, and promotes local growers, producers and vineyards through its menus.
The buyer, a local investment company, has a background in tourism and hospitality, having previously owned motels and hotels in NSW and the ACT, Crooks said.
The hotel will continue to operate as part of the growing Sebel portfolio, Accor’s upscale apartment hotel brand.
Latest trading figures show The Sebel Launceston achieved a very healthy occupancy rate of 79.3% for 2013-14, compared to the Tasmanian average of 58.5% for the year (ABS, Hotels Motels &amp; Serviced Apartments 15+ rooms).
Occupying a 3,651 square metre site, the eight-storey mixed-use building also incorporates 35 strata titled residential apartments on the upper three levels, which are individually owned and were not part of the sale.
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jchancellor-FAypfDUnLy

The Sebel Launceston sold for nearly $10 million

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The Wyllie Group and Charter Hall have sold the Abbotsford headquarters of Carlton &amp; United Breweries.
The Chinese investment company Hengyi has paid more than $20 million for the office building and warehouses next to CUB's nine-hectare brewery on Yarra River.
The curved five-storey office building at 2-6 Southampton Crescent, built in 1928 for Kodak.
The acquisition includes a vacant warehouse at 36 Bond Street and warehouses at 10-32 Duke Street. The buildings were part of a portfolio sale and leaseback deal struck in 2007.
Charter Hall and the Wyllie Group paid $41 million for 10 properties on two hectares around the Abbotsford brewery.
After the sale of parts of the portfolio, the Wyllie Group paid $18.3 million in 2009 to become the sole owner of the remaining properties.
The transaction was negotiated by agents Dawkins Occhiuto and Vinci Carbone
Hengyi will re-lease the space when CUB moves out.
The area has a special zoning underpinned by the Abbotsford brewery. Although CUB has stressed it has no plans to close the brewery, its eventual closure will lead to a rezoning of the area and redevelopment of the surrounding buildings.
Hengyi has paid more than $20 million for the office building and warehouses next to CUB's nine-hectare brewery on Yarra River.
The curved five-storey office building at 2-6 Southampton Crescent, built in 1928 for Kodak, returns $2.2 million a year in rent.
The acquisition includes a vacant warehouse at 36 Bond Street and another complex of warehouses at 10-32 Duke Street, which is on 2,404 square metres and returns $516,286 a year.
Their leases expire in December 2017. The buildings were part of a portfolio sale and leaseback deal struck in 2007.
Charter Hall and the Wyllie Group paid $41 million for 10 properties on two hectares around the Abbotsford brewery.
After the sale of parts of the portfolio, the Wyllie Group paid $18.3 million in 2009 to become the sole owner of the remaining properties.
The transaction was negotiated by agents Dawkins Occhiuto and Vinci Carbone, who confirmed the sale but declined more information.
The high yielding investment is expected to be a long-term hold for Hengyi, which will re-lease the space when CUB moves out.
The area has a special zoning underpinned by the Abbotsford brewery. Although CUB has stressed it has no plans to close the brewery, its eventual closure will lead to a rezoning of the area and redevelopment of the surrounding buildings.
The transaction was negotiated by agents Dawkins Occhiuto and Vinci Carbone, who confirmed the sale but declined more information.
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CUB's Abbotsford headquarters sold to Chinese investment group

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The offices of architects DBI Design on Surfers Paradise has been sold with a leaseback for $5.15 million, reflecting an initial yield of 10%.
The high profile Surfers Paradise office of awarding-winning architecture practice DBI Design has been sold in a vendor leaseback deal by Surfers Offices Pty Ltd.
CBRE’s Mason Kidman and Lachlan Harris negotiated the sale of the 9 Trickett Street office.
DBI Design has taken a five year lease with further five year options over the premises, with a total gross floor area is 2,749 square metres, including the 405 square metre entrance and foyer.
DBI is renowned for its local and international design work, which includes the Gold Coast, Port Douglas and Hawaii Sheraton Mirage resorts, Soul, Oracle and Southbank Parklands in Brisbane.
The sale price translated to an initial yield of 10%.
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DBI Design offices on Gold Coast sold

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Concorde House at 310 King St in Melbourne's CBD has been sold for $19.3 million, at a rate of $3,217 per square metre.
The building provides 6,000 square metres of offices and 30 car spaces, and is occupied by a variety of tenants, including Nowicki Carbone, St John’s Ambulance and the Australian Red Cross Society. 
Mat Kent of Savills acted for the vendor. 
Harrington said when fully leased Concorde House would provide a yield in the region of 9%.
<a href="https://www.realcommercial.com.au/property-offices-vic-melbourne-5602705" target="_blank">It is in the Flagstaff Gardens</a> precinct. 
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Melbourne's Concorde House office building sells for $19.3 million

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A Melbourne based private investor has paid $2.06 million on a tight 5.5% yield for a strata retail property at Hawthorn in Melbourne’s inner eastern suburbs.
In a deal brokered by Savills Australia, 862 Glenferrie Road is part of the newly completed Emblem Apartment building comprising 92 luxury apartments.
The retail space was sold subject to a new 10 year lease with five year options to restaurant chain, Ribs &amp; Burgers, at $113,300 per annum net.
Selling agent, Savills’ director, Nick Peden, who brokered the deal with Jesse Radisich, said the marketing campaign attracted prospective purchasers drawn to the security of the long term lease to a national tenant, the quality of the building, and the location in a popular retail strip.
He said the property also offered potentially significant depreciation benefits.
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Tight 5.5% yield as new Ribs & Burgers Hawthorn retail property sold

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Adelaide’s largest CBD shopping centre, Myer Centre Adelaide has been listed for sale.
Novion Retail Partnership has put the Myer Centre Adelaide in Rundle Mall up for sale through JLL’s Simon Rooney.
The initial early price expectations are for close to $270 million, according to the Australian Financial Review.
The centre has had a $35 million upgrade across its 60,109 square metres of retail space and 9,558 square metres of office accommodation. 
Myer Centre Adelaide features eight mini-major tenants, 88 specialty tenancies, 11 kiosks, six ATMs and 467 basement car parking spaces.
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Adelaide’s largest CBD shopping centre, Myer Centre Adelaide for sale

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A Bilpin property comes with high $1 million hopes through Justine Popple of Ray White Kurrajong.
Two residences sit on the land, including a 1906 cottage, Bloomfield Cottage, which is an approved bed and breakfast.
It slits with award winning 35-year-old gardens that span over eight acres with a total of 18 acres.
Located 90 kilometres from Sydney, buyers have the option of a potential income, Popple said.
The property at 2967 Bells Line of Road will go to auction on 28 February 2015.
The main house once operated as an art gallery and cafe.
The whole property is zoned RU2 Tourist Facility - the last to be zoned as such in that area of the Hawkesbury.
"There’s enormous potential to create a commercial venture such as wedding facility, cafe or gallery,” said Popple.
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Bilpin former art gallery offering with tourist potential

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Will lower oil prices mean improved economic growth?
The answer is both yes and no, depending upon which country you live in.
Recently, the Australian Financial Review reported an analysis by Oxford Economics, which predicted the likely effect upon GDP during 2015-16 of oil being at US$40 v US$84 per barrel.
A quick summary of that is included below.
<img src="https://commercialpropertymadeeasy.com/assets/2015/01/Oil-GDP.jpg" style="display: block; margin-left: auto; margin-right: auto;">
As far as Australia is concerned, ANZ's chief economist Warren Hogan says:"The $1 a litre petrol currently being pumped in Sydney bowsers is akin to half a 0.25 percentage interest cut."
Clearly, those oil-producing countries around the world will suffer. However, one country's loss is another country's gain.
The World Bank feels windfall savings (through price reductions) will lead to improved global economic demand — particularly, in those countries which rely upon foreign oil. And in return, this will help address the present imbalance in economic growth.
Furthermore, the World Bank predicts China's current account surplus could add between 0.4-0.7% to its GDP, during 2015 alone.
For Australia
Therefore, not only will our economy and consumers benefit from lower oil (ie: petrol) prices, but our major trading partners — China, US, India and Japan — will also enjoy advantages from lower oil prices as well.
As such, this should translate into a fourfold benefit for Australia
<ul>
<li>A decline in the present inflation rate; 
</li>
<li>Improved consumer confidence at home; 
</li>
<li>A sustained lower dollar to help exporters; and 
</li>
<li>Improved demand for what our exporters produce over the next 12 to 18 months.
</li>
</ul>
Bottom line: According to CBRE research, 2014 saw a record $26.8 billion in commercial property deals.
Office sales represented over half that total; and 23% of purchases were made by foreign investors.
With most industry experts expecting 2015 to be another strong year, improved confidence among local buyers could provide some welcome competition to those overseas purchasers.
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chrislang-EQKojcgJPV

How lower oil prices could affect Australian commercial property: Chris Lang

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NAME: Tim Holtsbaum <img src="/images/2015/02/02/Tim-Holtsbaum-profiel.jpg" alt="" style="float: right;">
POSITION: Director - residential site sales, NSW
COMPANY: Knight Frank Australia
OFFICE LOCATION: Sydney, NSW
<ul>
<li>How long have you been in the industry?</li>
</ul>
Over 10 years now.
<ul>
<li>What’s happening in the area you specialise in?</li>
</ul>
Big things!  It's no secret that the residential markets across Australia and especially in Sydney have enjoyed substantial growth in both supply and demand economics.  Sydney experienced a relative under supply for several years’ post the GFC which when combined with a low interest rate environment has now led to aggressive price growth in the medium to high density residential market. 
This growth has been amplified by the influx of off-shore investors and developers, especially from within the Asian markets such as China and Malaysia.  Additional planning reforms along major infrastructure corridors with the aim of densifying key areas across metropolitan Sydney provide additional opportunities for both domestic and off-shore developers. 
With Sydney having experienced an approximate 35-40% growth in the median value on an apartment in the past five years, further growth is forecast for the coming 2-3 years as supply attempts to match ongoing demand for residential housing in Sydney.
<ul>
<li>Describe the most interesting commercial property you have worked on?</li>
</ul>
Perhaps due to their locations, it would be a tie between a 14 acre land acquisition for a new baby diaper manufacturing facility in Lagos, Nigeria and a commercial office acquisition in Islamabad, Pakistan.  Both presented unique challenges such as negotiating with local tribes in Nigeria through our Portuguese lawyers and having to discuss Ricky Ponting and the Australian cricket team for an hour before every meeting with a Pakistani Landlord.
<ul>
<li>What are the ingredients to being successful in your job?</li>
</ul>
First and foremost, an infatuation with all things real estate.  If you find yourself sending your friends and family off to sleep with details of housing price movements in your suburb, growth in achievable gross realisations for high rise residential apartments and tightening cap rates due to an increased weight of capital in the market, you have found your niche.
In addition to general interest, I would also attribute my broad skill set having worked in multiple business lines across Asia Pacific and Europe, Middle East and Africa (EMEA).  Based on my experiences, I am a strong advocate for working cross-border in markets with contrasting cultures and individuals.  Globalisation may be the norm but understanding how various cultures conduct business can be pivotal in executing a successful transaction.
<ul>
<li>What aspects of your role do you enjoy the most?</li>
</ul>
Two things:
<ol>
<li>Working with first class clients and focusing 100% of my energy on the residential development market and</li>
<li>The transaction. </li>
</ol>
My recent move to Knight Frank as the Director of Residential Site Sales, NSW helps me combine to two and build a team that will contribute to the growth of our Residential business as a whole.
<ul>
<li>Where would you invest a spare $750,000?</li>
</ul>
Invest in promising young businesses with substantial growth potential.  I think Australian business will enjoy massive growth potential as our population increases year-on-year.
<ul>
<li>Which football team do you support?</li>
</ul>
For my sins I am a Dragons fan in the NRL and a diehard Liverpool FC supporter in the EPL.  I grew up playing rugby here in Sydney at school and Eastern Suburbs RC so supporting the Beasties and Tahs goes without saying.
<ul>
<li>What’s your favourite app or techno gadget?</li>
</ul>
I would have to say my new phone.  I am not a mobile phone wizard by any stretch of the imagination but I have recently switched to the Sony Xperia Z3 and haven't looked back.  Of course, I have been given major amounts of grief for getting a Sony which just make me enjoy it more.
<ul>
<li>How do you use social media?</li>
</ul>
Sparingly. I have the usual Facebook and Instagram accounts but my user levels are definitely on the low end of the scale. Can't say I am a huge fan of endless microblogging, hence no Twitter account for me.
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jrichardson-uRX5hFdKfN

In profile: Knight Frank's director - residential site sales, NSW, Tim Holtsbaum

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Luci Ellis, the head of Financial Stability Department at the Reserve Bank of Australia (RBA), had her thoughts presented to the World Economic Forum at Davos last month.
She noted Australia's prevalence of variable rate mortgages was seen as stabilizing because it encourages rapid amortization, beyond what the loan contract requires.
But she also noted the use of fixed rate loans is regarded as stabilizing in German-speaking countries. 
Attendees at the World Economic Forum at Davos were told both 1929 and 2008 were financial landmarks, but they were not unique, according to an analytic report prepared by the <a href="https://www3.weforum.org/docs/WEF_Emerging_Horizons_Real_Estate_Profile_Prescriptions_Proposals_report15.pdf" target="_blank">Steering and Advisory Committees of the Emerging Horizons in Real Estate – Asset Price Dynamics Initiative</a>. 
"Institutional settings that have been regarded as sources of vulnerability in some cases can be sources of stability in others, depending on the context," Ellis wrote in the report's foreword.
"For example, restrictions on building are seen as exacerbating the 1970s cycle in office property in the United Kingdom, but more recently in Ireland, tighter restrictions might have helped to prevent the geographic misallocation of construction activity.
"Similarly, the use of fixed rate loans is regarded as stabilizing in German-speaking countries, whereas in Australia the prevalence of variable rate mortgages is seen as stabilizing because it encourages rapid amortization, beyond what the loan contract requires."
She observed that many of the recent boom-bust episodes were sparked, at least in part, by financial deregulation.
"Freed of past quantitative restrictions, banks eased their lending standards and expanded credit beyond levels that could be reasonably serviced once the market turned down," wrote Ellis.
"But this shift necessarily only happens once.
"It remains to be seen if these episodes could repeat themselves in the same countries.
"Yet memories fade, and the lax lending standards that characterized some of the boom phases described in this collection have re-emerged in some cases.
"The stance of prudential supervision seems to be important here, in that “light touch” regulatory regimes have frequently failed to prevent excessive risk-taking by financial institutions or their customers."
Ellis noted tax systems that encourage leverage and prudential regulatory regimes that do not effectively curtail imprudent behaviour seem to be common factors in many of the episodes analysed in these case studies.
Another common factor relates to the price of credit: where fixed exchange rate regimes or currency union membership result in interest rates being out of line with the needs of the domestic economy, capital flows and credit supply can fuel a speculative boom in domestic asset markets, particularly property.
"The overarching lesson for policy-makers from the collected experiences is that the social costs of the busts can be large enough to justify preventative policy action," Ellis wrote.
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