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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Scentre Group has raised more than $3 billion in European bonds overnight as the Westfield spinoff secured the large deals by the Australian company. 
The deal was spread across four tranches with four to 12 year maturities:
<ul>
<li>
£400 million 12 year fixed rate senior guaranteed notes with a coupon of 3.875%.
</li>
<li>
€600 million 10 year fixed rate senior guaranteed notes with a coupon of 2.25%.
</li>
<li>
€600 million six year fixed rate senior guaranteed notes with a coupon of 1.50%.
</li>
<li>
€400 million four year floating rate senior guaranteed notes at a spread of 0.65% over three month EURIBOR.
</li>
</ul>
BNP Paribas, HSBC, Barclays and Deutsche Bank did the deal.
Scentre Group, which was formed only last month following a highly controversial demerger vote, holds the Australian and New Zealand operations of Westfield Retail Trust and Westfield Group.
The proceeds will be used to partially refinance Scentre Group’s $A5.0 billion bridge facility. Australian Financial Review columnist Tony Boyd noted offshore capital markets offer Australian companies the opportunity to lock in the cheapest long-term debt funding in more than six years.
Tony Boyd added it was now cheaper for companies to borrow in the Euromarkets than in the US, the world’s most liquid and active bond markets.
 
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jchancellor-FAypfDUnLy

Just three weeks old, Scentre Group raises $3.045 billion in cheap European bonds

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A freehold Lygon Street, Carlton restaurant premises has sold for $1.87 million, reflecting a 4.3% yield.
The 128-130 Lygon Street premises sold to a local investor subject to a five-year lease at $81,000 a year. 
The tenant operates an Indian restaurant, Royale Fusion at the 128 square metre holding. 
With 230 square metres available space, it sold through Matthew Feld and Larry Takis from Teska Carson.
There was a recent sale at 112 Lygon, but its price has not been revealed, although Property Observer gathers next door sold last December when 110 Lygon fetched $1.5 million. They were both three storey terraces on around 120 square metres.
Last December 346 Lygon sold for $2.48 million. It was an 96 square metre holding that was up for lease at $100,000 in 2009, and then eased to national retailer Moss River. It was reportedly the first time 346 Lygon Street had been offered for sale since 1921. Teska Carson's Michael Ludski said the two-storey building in the retail precinct sold on a 4.01% yield after acquisition costs. It was subject to a new five-year lease at a net annual rental of $105,000.
Knight Frank secured $3.77 million in October last year when an 136 square metre Faraday Street corner offering at 350 Lygon went to auction.  Laree Jane, the former wife of businessman racing driver Bob Jane, was the vendor of the historic, two-storey building leased to Grill'd restaurant. It sold on a low yield of 4.2%. It had also sold at $695,000 in 1992. 
In 2012 the home of Donati's Fine Meats at 402 Lygon Street<a href="/expert-insights/investing/lygon-street-premises-of-donatis-fine-meats-smashes-records-with-emotion-driven-2-89-million-sale-at-auction"> sold under the hammer for $2.89 million</a> (pictured below).
<img src="/images/stories/2012/10/donatisflicker.jpg">
The sale of the two-storey building on a 75-square-metre site set a record for the strip, a very tight yield of 2.31% through Colliers International selling agents Jeremy Gruzewski and Tom Noonan.
The 402 Lygon Street building was up for sale for the first time in 100 years, having operated as a butchery since the early 1900s, with Donati's based there since 1972. 
Other sales on Lygon Street were the 84-square-metre premises of Intrepid Travel at 231 Lygon Street, which sold for $1.9 million in 2011 equating to $22,619 per square metre and a passing initial yield of 3.62%, and 163-165 Lygon Street, the premises of Casa Del Gelato, which sold for $2.8 million ($10,294 per square metre) in 2010 on a yield of 3.48%.
In absolute terms, the highest price paid since 2008 was $3.71 million paid for 350 Lygon Street, a two-level corner site in 2009 measuring 173 square metres, equating to $21,445 per square metre. 
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Lygon Street, Carlton restaurant sale yields 4.3% in $1.87 million sale

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Brisbane-based Sentinel Property Group has purchased the Tuggeranong Homeworld Centre for $31 million, with their plans to expand their retail property sector presence further south.
The Sentinel Tuggeranong Retail Trust acquired the property with a forecast year one distribution of 10.25% per annum, paid monthly. The sale was undertaken by Carl Molony and Phil Gardtland of Stonebridge Property Group.
The Homeworld, at 150-180 Soward Way, Greenway, is on a single-level and attached to an office. It covers 21,945 square metres, or one street block, and includes multiple car access point.
The centre covers 12,245 square metres and there is a central carpark with 333 spaces.
Tenants include Aldi Foods, Dan Murphys, Dick Smith, Jetts Fitness, Cash Converters and the Department of Human Services.
This brings Sentinel Property Group’s total portfolio to 24 retail, office and industrial assets, and to a combined $500 million in value.
Sentinel’s Warren Ebert says that the centre is prominent in position, has a strong tenancy profile, and includes future development potential.
“The retail centre is well established in the local community and features a strong lease profile with 72.4% of income provided by national tenants,” he said.
“The property comprises an expansive entire street block within Tuggeranong Town Centre with potential mixed-use redevelopment potential, including residential apartment development.”
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jduke-EHk3XBmHkn

Homeworld Tuggeranong bought for $31 million as Sentinel expands

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A local private investor has leased out their Moorabbin warehouse facility and office to Mercury Heating and Cooling Systems.
The new lease has been organised by Savills Australia’s Daniel Kelly and Lynton Williams in the south-east bayside area of Melbourne to the heating and air-conditioning firm.
The property is located off of Warrigal Road in the area’s industrial precinct, at 85 Levanswell Road. It includes a 650 square metre office and warehouse with on-site parking and roller door access.
It is understood that the property was leased on a three year term with a three year option at $43,500 per annum net.
Kelly said that the lessee had relocated from nearby premises to here in order to upsize and keep pace with their business’ growth.
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Local investor secures tenant for Moorabbin office and warehouse

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VCAT has been asked to clarify whether a landlord or tenant should pay the costs of complying with the Essential Safety Measures in commercial premises.
The below matters have been referred to VCAT for clarity:
<ul>
<li>The responsibilities of a landlord or tenant under a commercial lease concerning compliance with essential safety measures requirements under the Building Act 1993 and Building Regulations 2006;</li>
<li>Who should pay for the costs of essential safety measures compliance under the Building Act 1993; and</li>
<li>Who should pay for the costs of repairs and maintenance obligations under the Retail Leases Act 2003.</li>
</ul>
The clarification has been sought by the Victorian Small Business Commissioner Geoffrey Martin Browne.
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VCAT asked for commercial property safety measures clarification

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Trend retail turnover in the Northern Territory increased by 0.3% in May 2014, according to latest statistics, with the month’s growth making it the 13th consecutive growth month recorded.
This was the equal highest monthly growth, matching New South Wales.
In the ACT, the largest decline, 0.6%, was recorded, followed by a 0.1% decline in Tasmania. Nationally, results were flat.
Over the year to May 2014, the Northern Territory’s retail trade turnover situation was up 4.6%. Retail trade turnover nationally was just behind for the same period, with 4.3% growth.
Treasurer Dave Tollner said that there is currently low unemployment and high levels of economic activity.
“Economic forecasters have been predicting strong growth in the Territory economy and it’s reassuring to see our monthly indicators continuing to rise,” he said. 
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Northern Territory records retail trade growth for 13th consecutive month

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A Doreen service station offering is open for an expressions of interest campaign until the end of the month.
The 940 Bridge Inn Road property is on a corner allotment, and covers 2,820 square metres. It includes a high clearance canopy and retail shop, as well as two adjoining retail shops.
Anchored by United Petroleum Pty Ltd, who has signed to a 10-year lease until 2022, the other two retail stores operate as a food store and noodle shop.
Paul Tzamalis, Jamus Campbell and Dean Hunt from CBRE are selling the property. The vendors are a syndicate of private investors.
“Located three kilometres south of the highly successful Laurimar Estate by Lend Lease, this asset stands to leverage off significant growth and increased traffic flow in the area, fuelled by a collection of new communities being established in the Mernda-Doreen region,” Tzamalis said.
“The property is also surrounded by several established service and food operators, such as McDonald’s cafes, takeaway outlets, a car wash and Repco, as well as a number of key  sites earmarked for development.”
The Memda-Doreen population has forecasted growth expectations of 164% for the 2011 to 2021 period, according to population forecast researchers, .id, who base their data on ABS information.
“This is an opportunity for investors to capitalise on future growth and own a corner property in what is tipped to become a highly desired commercial location,” he said.
Expressions of Interest close on 30 July at 2pm.
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Expressions of interest open for service station in fast-growing Melbourne area

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Falling debt costs and share buy backs have supported the valuations of Australian Real Estate Investment Trusts, a top performing fund manager in the sector has said.
Smaller AREITs with exposure to residential property have also performed well over the past year, Zurich Australia senior investment specialist Patrick Noble told Property Observer.
“We still see the recovery on the east coast is supporting those with residential exposure or exposure to economic activity in this part of the world,” Noble said.
Listed residential developers Villa World and Peet were strong performers in the portfolio of the Zurich Renaissance Australian Property Securities fund, which is managed by Renaissance Property Securities. Villa World gained around 70% in the 12 months to the start of June, while Peet added 9.5% over that timeframe.
Retirement village owner/operator Ingenia Communities had also done well for the portfolio, gaining more than 160% over the past two years. Noble said the manager had started to sell its holdings in that stock to take profits.
The Zurich Renaissance fund made no gains through May, but was the top performer in its sector over three and five years, returning 15.9% and 18.6% respectively over those timeframes, according to Morningstar data.
Over three years, the S&amp;P/ASX 200 AREIT index rose 13.8% and the average fund manager gained 14.2%, Morningstar’s latest monthly sector survey showed. Over five years, the index returned 14.6% and the average fund manager returned 15.4%.
Noble said the managers at Renaissance pursued an active value style of investing, meaning they researched individual AREITs and invested in those they believed to be undervalued by the market. It aimed to outperform the benchmark by 1.5% a year over three year rolling periods.
The manager had a preference at present for AREITs like Charter Hall Group, which earned income from development and funds management.
“When markets improve they get more fee income which boosts earnings. In this market, their income is growing,” Noble said.
It was avoiding those with exposure to the office and retail markets.
The office market was challenged by strong competition for lease renewals and extra supply of office buildings that were under development.
High rent costs and low income growth made the retail sector less attractive than other parts of the market, Noble said. 
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AREITs benefitting from falling debt, share buy back schemes: Zurich Australia fund manager

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Those who doubt the merits of flexible office environments may get the chance to experience them first hand with Inhabit.
Designed by furniture supplier Stylecraft in collaboration with POMT and Woods Bagot, the centre is located in Stylecraft's Sydney show room.
People will have the opportunity to test the merits of flexible activity based work office spaces with Inhabit, a space designed by furniture supplier Stylecraft in collaboration with POMT and Woods Bagot.
The fully functioning office will be open to Stylecraft’s clients and partners, who can book the space for a pilot group to test and try. Stylecraft’s managing director Anthony Collins says users will be able to carry out their usual work at Inhabit.
“We have created a space like no other in Australia,” said Collins. “User groups can spend a day or even a week at Inhabit for an immersive experience of flexible working – and still be doing their day jobs while they are there.”
Custom printed smartcards which give testers access to individual lockers and spaces in the office were supplied by POMT.
Users can book zones, desks and meeting rooms through an online system and individual screens in each bookable zone. WiFi is available throughout the entire office.
The office showcases the latest workplace trend: Bring Your Own Device, or BYOD, with staff members able to hook up laptops, tablets and smartphones to video conferencing equipment, screens, and an “interactive smart wall”.
Jeremy Pollack, director of strategy and development for POMT, says versatility is central to the space’s design.
“The challenge we had was not just designing technology to work for one company’s users, but for many companies’ users,” said Pollack.
“It’s BYOD taken to its extremes. We had to consider multiple different devices and multiple different applications which all have to work with the collaborative and AV technologies deployed.”
Since its June opening, a number of pilot groups have already tested out Inhabit.
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Flexible workplace open to trial at Inhabit 

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NAME: Tim Altschwager<img src="/images/2014/07/09/Alschwager-Tim-profile.jpg" alt="" style="float: right;">
POSITION: National director – agency, rural and agribusiness.
COMPANY: Colliers International
OFFICE LOCATION: Adelaide
How long have you been in the industry?
About 10 years.
What’s happening in the area you specialise in?
We are seeing a definite increased focus on rural and agribusiness assets, particularly from overseas purchasers.
Describe the most interesting property you have sold?
We recently sold a large portfolio of land planted to hardwood trees, held in the Australian Sustainable Forestry Investors Fund, to fund manager New Forests.
The portfolio comprised a large compilation of prime Australian plantation forestry/farming land holdings, incorporating 68 properties across South Australia, Victoria and Western Australia, with a total area of approximately 20,657 hectares.
The sale of such a large holding of prime plantation and farming land was rare and as such, the portfolio attracted a great deal of interest from forestry industry participants and many potential purchasers who were attracted to the holding's ongoing rental stream and potential to revert back to grazing/cropping land.
What are the ingredients to being successful in your job?
Communication and persistence.
What aspects of your role do you enjoy the most? 
The negotiation, and consummating the deal.
Where would you invest a spare $750,000? 
I would invest in run-down rural lifestyle land within an hour of a capital city with sub division potential.
Which football team do you support? 
The mighty Collingwood Pies!
What’s your favourite app or techno gadget? 
Google maps, Garmin GPS and Strava cycling app.
How do you use social media? 
<a href="https://au.linkedin.com/in/timaltschwager" target="_blank">LinkedIn</a> is a great professional platform for connecting with others in the industry and  building your personal brand.
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