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

<html><body>
NAME: Ben Pomroy<img src="/images/2014/11/26/punroy-nov-26-proifle.jpg" alt="" style="float: right;">
POSITION: Principal
COMPANY: Rothelowman
OFFICE LOCATION: Level 2, 171 William Street, Darlinghurst NSW 2010 
How long have you been in the industry?
16 years
What’s happening in the area you specialise in?
Historically disparate development types – residential apartments and neighbourhood retail developments are co-locating within single development sites, creating high intensity mixed-use developments in outer urban areas. These development types come from traditionally disparate funding and delivery models, so combining them brings a unique set of design and delivery challenges. Describe the most interesting commercial property you have worked on?
I have always been interested in adaptive reuse projects, working on several adaptions from small to large scale. A conversion I designed, of an old fish processing facility into residential apartments in the inner city, is a favourite. The old building opened up all kinds of unique and interesting challenges, from its triangular site plan that tapered down to a 800mm wide point, to using the tight proximity of surrounding neighbours to generate an architectural form. Needless to say, the conversion was positively received by the neighbours with the removal of processing waste from the area.
What are the ingredients to being successful in your job?
To take an idea from its early conception, through to construction demands the architect to be passionate advocate for the project throughout its life. This responsibility is a great opportunity that needs to be embraced by any architect to be successful.
What aspects of your role do you enjoy the most?
The moment working with a client when the idea comes together, the “aha” when the lines of the paper crystalise to form the future building.
Where would you invest a spare $750,000?
In property I would be looking at fringe areas to the Parramatta CBD for what are still good value sites. On the north side of Sydney, the Northern Beaches still has opportunities in this price range.
Which football team do you support?
My early years were in QLD, so the Brisbane Broncos.
What’s your favourite app or techno gadget?
Favourite app is Paper by 53.
How do you use social media?
Each media platform has its own specific use and audience. I like using Twitter as a place to research and test new design issues and agendas. Condensing an idea down to 140 characters hones an ability to clearly articulate design concepts to wider audiences than just other design professionals.
</body></html>

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In profile: Rothelowman principal, Ben Pomroy

Retail rents on Sydney&rsquo;s Pitt Street Mall ranked as the fifth highest in the world in 2014, up from eighth most expensive the year before, a report from Cushman and Wakefield has found.

The report, Main Streets Across the World 2014/15,&nbsp;showed retail rents on the premier shopping strip grew by 25% over the year.

Pitt Street&#39;s increase was the second largest in the Asia-Pacific region after rents for retail space in Beijing&#39;s CBD, which rose by 26.4%.

In San Fransisco&#39;s Union Square, retail rents soared 30%, while in Istanbul&#39;s Istiklal Street, shop rents increased by 27.3%.

The report attributed the rapid growth of rents on Pitt Street Mall to international retailers signing new leases and taking up larger space through the amalgamation of smaller stores, which reduced the supply of space.

It noted there was a global trend for major retail brands to experiment with design, layout, content and services in their flagship stores. This was expected to remain a key factor influencing growth in major retail centres in the coming year.

Market activity was expected to improve in the next 12 months, despite uncertain economic outlooks for parts of the world.

&ldquo;Premier shopping locations will remain in high demand as retailers are keen to establish a presence and raise their brand profile, but supply as ever will remain tight,&rdquo; the report noted.

The world&rsquo;s most costly retail space was along New York&#39;s Upper 5th Avenue, where rents were US$3,500 per square foot per year.

Hong Kong&rsquo;s Causeway Bay shopping district, the Champs Elysees in Paris and London&#39;s New Bond Street ranked second, third and fourth, respectively.

Rents on Pitt Street Mall cost US$1,016 per square foot, the report found, making retail space along the mall more costly than prime shopping areas in Milan&#39;s Via Montenapoleone and Tokyo&#39;s Ginza district.

Retail rent rises in Australia were confined mainly to Pitt Street Mall and high performing regional shopping centres, where rents rose by 7.8% to A$2,200 per square metre per year, the report found

Landlords of premises in other prime retail strips in Australia have not shared the fortunes of Pitt Street Mall. No rental growth was reported for shops on Rundle Mall in Adelaide, Queen Street Mall in Brisbane, Bourke Street in Melbourne or in Perth&#39;s CBD.

Retail rents along Sydney&rsquo;s Oxford Street continued to lag. Cushman and Wakefield&rsquo;s report showed the cost to rent on the once-fashionable retail strip was A$1,050 per square metre per year, compared with A$12,500 per square metre per year on Pitt Street Mall.

The top 10 most expensive retail locations in each country:

Rent price is per square foot per year.&nbsp;Change in rental rates is compared to 2013 rates

<ol>
	<li>USA, New York, Upper Fifth Avenue 
	 
	Rent price: US$3,500 
	Change in rental rates: +13.3% 
	&nbsp;</li>
	<li>Hong Kong, Causeway Bay 
	 
	Rent Price: US$2,735 
	Change in rental rates: -6.8%&nbsp; 
	&nbsp;</li>
	<li>France, Paris, Avenue des Champs Elysees 
	 
	Rent price: US$1,556 
	Change in rental rates: 0.0 
	&nbsp;</li>
	<li>UK, London, New Bond Street 
	 
	Rent Price: US$1,216 
	Change in rental rates: +4.2% 
	&nbsp;</li>
	<li>Australia, Sydney, Pitt Street Mall 
	 
	Rent price: US$1,016 
	Change in rental rates: +25% 
	&nbsp;</li>
	<li>Italy, Milan,&nbsp; Via Montenapoleone 
	 
	Rent price: US$998 
	Change in rental rates: +13.3% 
	&nbsp;</li>
	<li>Japan, Tokyo, Ginza 
	 
	Rent price: US$953 
	Change in rental rates: +6.9% 
	&nbsp;</li>
	<li>South Korea, Seoul, Myeongdong 
	 
	Rent price: US$932 
	Change in rental rates: +17.6% 
	&nbsp;</li>
	<li>Switzerland, Zurich, Bahnhofstrasse 
	 
	Rent price: US$875 
	Change in rental rates: +1.1% 
	&nbsp;</li>
	<li>Russia, Moscow, Stoleshnikov 
	 
	Rental price: US$557&nbsp; 
	Change in rental rates: +20%</li>
</ol>

Source: Cushman and Wakefield.&nbsp;

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>.

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Sydney's Pitt Street Mall ranked among the world's most expensive retail rental locations

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Raine &amp; Horne Commercial South Sydney/Marrickville has sold two Commonwealth Bank (CBA) branch premises at auction.
A private investor, Ausjo Holdings Pty Limited, secured 202-204 Beamish Street, Campsie (pictured above) for $6.9 million. The building is located on Campsie’s main retail strip, near Campsie Station and Campsie Centre. The property is 100 square metres and has a current rental price is $410,000 per annum.
Luke Smith, director of Raine and Horne Commercial South Sydney/Marrickville, says the sale is a strong result considering the current lease term to the CBA had approximately 12 months remaining.
“We fielded over 300 enquiries during the marketing campaign for this property, and at $6,900,000, this sale represents an approximate net return of 5.9%.”
A private investors syndicate secured 118 Argyle Street, Camden (pictured below) for $6.3 million.
<img src="/images/2014/11/26/camden-nov-26-one.jpg" alt="">
The commercial building is 646 square metres, is two storeys and has the capacity to house five tenants. The CBA has no intentions of moving from the first floor, according to Raine and Horne selling agent, Rebecca Saab.
“The ground floor of 118 Argyle Street, Camden will remain leased to the CBA, while the building has the added bonus of two Telstra tower leases which generate an additional $46,000 per annum in addition to the current net rental of $445,810 per annum,” said Saab.
Smith describes both properties as blue chip opportunities.
Raine and Horne Commercial South Sydney/Marrickville sold an additional four properties sold at the auction.
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jchancellor-FAypfDUnLy

Investors bank on CBA branches as Raine & Horne sells two at auction

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The Real Estate Institute of Queensland (REIQ) has nominated over 50 finalists in their Awards for Excellence, with winners to be named at a gala event on 5 February at Brisbane City Hall.
Winners from the individual and agency categories will advance through to the National Awards for Excellence, to be held in Perth next year.
REIQ CEO, Antonia Mercorella said: “This year’s finalists are drawn from Brisbane, the Gold and Sunshine Coasts, Hervey Bay and Townsville, with entries coming from right across the state.”
“They’re being recognised not only for their exceptional achievements but also for their commitment to integrity in the profession.”
Finalists for the 2015 REIQ Auctioneer of the Year and the Best Real Estate Report wil be announced in the coming weeks.
Below is the full list of finalists:
Large Residential Agency of the Year
• Calibre Real Estate, Red Hill, Brisbane
• Place Estate Agents, Brisbane
• Dowling and Neylan, Noosa Heads, Sunshine Coast
• Laguna Real Estate, Noosaville, Sunshine Coast
• Amber Werchon Property, Mooloolaba, Sunshine Coast
Medium Residential Agency of the Year
• Denovans Real Estate, Mitchelton, Brisbane
• Bowmaker Realty, Northlakes, Brisbane
• Brad Bell Real Estate, Wishart, Brisbane
• Jeff Jones Real Estate, Stones Corner, Brisbane
• Explore Property, Townsville
Small Residential Agency of the Year
• Dixon Family Estate Agents, Toowong, Brisbane
• Urban Property Agents, Paddington, Brisbane
• MTR Property Group, Forest Lake, Brisbane
• Property Pursuit Pty Ltd, Paddington, Brisbane
• Jam Property, Caloundra, Sunshine Coast
Commercial Agency of the Year
• Place Projects Pty Ltd
• CBRE
• Century 21 Commercial Hervey Bay
Residential Salesperson of the Year
• Cameron Crouch, Ray White Graceville, Brisbane
• Shannon Harvey, Place Estate Agents, Bulimba, Brisbane
• Brett Andreassen, Doug Disher Real Estate, Toowong, Brisbane
• Daniel Argent, Urban Property Agents, Paddington, Brisbane
• Anne Fidler, Belle Property, Paddington, Brisbane
• Jodie Hedley-Ward, Next Property Group, Buderim, Sunshine Coast
• Mark McGill, Amber Werchon Property, Mooloolaba, Sunshine Coast
• Robbie Neller, Ray White Peregian, Peregian Beach, Sunshine Coast
• Melanie Butcher, Laguna Real Estate, Noosaville, Sunshine Coast
• Damien Keyes, Keyes &amp; Co. Property, Townsville
Residential Property Manager of the Year
• Sarah McMillen, Bees Nees City Realty, South Brisbane
• Ranita Patel, Urban Property Agents, Paddington, Brisbane
• Katie Knight, RE/Max Success, Toowoomba
• Loretta Morgan, Jam Property, Caloundra, Sunshine Coast
• Maaike Hillegers, Dowling Neylan, Noosa Heads, Sunshine Coast
Business Broker of the Year
• Ian Salter, Benchmark Business &amp; Commercial Sales, Varsity Lakes, Gold Coast
• Lincoln Bridge, Benchmark Business &amp; Commercial Sales, Varsity Lakes, Gold Coast
Commercial Salesperson of the Year
• Peter Court, CBRE, Brisbane
Commercial Property Manager of the Year
• Lauren Battams, NAI Harcourts Gold Coast, Hope Island
• Julie Magennis, CBRE, Brisbane
Buyers’ Agent of the Year
• Zoran Solano, Hot Property Specialists Buyers Agency, East Brisbane
• Simon Pressley, Propertyology, Fortitude Valley, Brisbane
• Karen Young, Property Zest, Chermside West, Brisbane
• Tony Coughran, VFM Property Advisors, Paradise Point, Gold Coast
Corporate Support Person of the Year
• Melitta McDonald, Propertyology, Fortitude Valley, Brisbane
• Amy Wolter, Place Estate Agents, East Brisbane, Brisbane
• Kathy Cuthbert, Place Projects Pty Ltd, East Brisbane
• Greg Tate, Raine &amp; Horne Commercial Brisbane Southside, Rocklea, Brisbane
• Penny Choyce, Laguna Real Estate, Noosaville, Sunshine Coast
Rookie of the Year
• Nathaniel Smith, Bees Nees City Realty, South Brisbane
• Susan Brant, Amber Werchon Property, Mooloolaba, Sunshine Coast
• Andrew Birkett, NAI Harcourts Gold Coast, Hope Island
Community Service Award
• Harcourts Queensland, Eagle Farm, Brisbane
• LJ Hooker Nerang, Gold Coast
• LJ Hooker Ormeau, Gold Coast
• Laguna Real Estate, Noosaville, Sunshine Coast
• Matthew Mandl, Virgo Patterson Realty, Hermit Park, Townsville
Source: REIQ.
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owisniewski-RiYLqnXfKH

REIQ's Awards for Excellence 2015 finalists announced

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The real estate information provider RP Data has been rebranded as CoreLogic.
The CoreLogic president, Anand Nallathambi, says the Australian business was the “cornerstone” of the US-based company’s strategy to extend services across Asia-Pacific.
CoreLogic Asia CEO Graham Mirabito, who has been increasingly visiting China, said they now take on the brand name of the largest property data and analytics provider in the world.
The RP Data name will be retained as a product brand for its residential property system used by 120,000 finance and property professionals. However, their new website will be hosted at corelogic.com.au.
CoreLogic took a 40% equity interest in RP Data in 2006, floating the combined entity at the end of the year. In 2011 CoreLogic took full ownership.
Formerly, the information solutions group of The First American Corporation, CoreLogic began trading under the ticker CLGX on the NYSE on June 2, 2010.
The company, headquartered in Santa Ana, California, has more than 10,000 employees globally.
Its consolidated operating revenues were US$1,330.6 million (A$1,557 million) for the year ended 31 December, 2013, an increase of US$95.2 million (A$111 million), or 7.7%, when compared to 2012. 
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RP Data rebranded as CoreLogic in Asia-Pacific push

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News Corp has paid US$30 million (A$35 million) for a 25% stake in the parent company of an Indian real estate website.
The PropTiger.com purchase expands News Corp's considerable real estate investments. Their portfolio includes a 61.6% stake in REA Group, the operator of realestate.com.au, Move, which operates the US based realtor.com, and South East Asian iProperty.
PropTiger.com offers both real estate listings and advisory services. About 10,000 Indian properties in 12 cities have been sold through the site since it launched in 2011. It has employees in eight cities.
News Corp now owns a quarter-stake in Elara, the digital venture's parent company.
News Corp chief executive Robert Thomson says the company is "extremely enthusiastic about the potential for PropTiger.com" as India "fulfills its digital destiny".
"PropTiger.com will provide analysis, information and insight so that Indians will be better informed when they make the most significant investment decision any family will make, buying a home," said Thomson in a statement.
PropTiger.com also partners with developers to market their properties to clients. The site claims they carry out "extensive due diligence and research on each of our developer partners to check for any irregular practices on their part".
"We make constant efforts to ensure that our clients are not being exposed to any kind of risks," the website states.
News Corp's senior vice president, Strategy, Raju Narisetti will join Elara's Singapore-based board.
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News Corp buys stake in Indian real estate website PropTiger.com

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Whyte’s from Torquay has committed to a new $270,000 lease at Melbourne Docklands.
It ranks as one of the biggest food and beverage deals done in the Victoria Harbour precinct this year in a deal negotiated by Savills Australia.
Located at 829 Bourke Street, on the south-west corner of Merchant Street, Savills Australia Victorian retail director Michael Di Carlo said the deal was struck at circa $600 a square metre per annum net on a five year term.
The property comprises a 450 square metre building area over two levels with 250 square metres on the ground floor and 200 square metres upstairs with views to the CBD and the Harbour from a large balcony.
Di Carlo said Whyte’s, which has a very popular wine bar and restaurant on The Esplanade, at coastal Torquay, sought to make a grand statement with a contemporary style restaurant offering.
The lessor is Lend Lease.
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Victoria Harbour secures Whyte's from Torquay restaurant lease deal

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The high-end, five suite Sangoma boutique resort in the Blue Mountains has been sold to the Turner family headed by Graham Turner, the boss of Flight Centre.
No price was disclosed but it is understood that the sale price would reflect $1 million plus per suite, being a record for retreat/resort style properties in the country, according to the Sydney Morning Herald.
It sold through Paul Kapiris from CBRE Hotels. 
Sangoma Retreat which spans 10 acres of bushland at Bowen Mountain, has room rates of over $1,100 a night.
The private $70 million plus Spicers Group portfolio includes the Victoria Court Hotel in Potts Point and Spicers Vineyards Estate in the Hunter Valley. The group now owns nine high end boutique assets, with six in Queensland.
Turner and his wife, Jude, have said they are focussed on the niche weekend retreat and smaller hotel market.
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Graham Turner adds Blue Mountains Sangoma resort into Spicers Group

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W Property has bought 132 McEvoy Street, Alexandria with plans to refurbish the buildings.
Following the restoration and refurbishment of the commercial and industrial buildings sites they will be onsold to owner-occupiers in 2015.
Knight Frank South Sydney agent Danny O'Brien advised on the sale, with the undisclosed price at about $30 million.
The proposed B6 Enterprise zoning allows a multitude of uses.
<a href="https://www.realcommercial.com.au/property-industrial+warehouse-nsw-alexandria-501323695" target="_blank">The 16,527 square metres site</a> has four building areas:
<ul>
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1,735 square metres
</li>
<li>
2,498 square metres
</li>
<li>
4,339 square metres
</li>
<li>
4,475 square metres
</li>
</ul>
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W Property buys Alexandria industrial site

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The Property Council of Australia has appointed Kathy MacDermott as its chief operating officer.
MacDermott has been the Property Council’s executive director for Queensland for the past four years.
The Property Council chief executive Ken Morrison made the announcement last week.
Queensland chief operating officer Chris Mountford will replace MacDermott as state executive director.
Her career included 11 years as a ­journalist for the Australian Financial Review.
The announcement follows recent appointments of new executive directors in South Australia and Tasmania.
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