<a href="https://www.apartments.com.au/developers/sunland-group">Sunland Group</a> has officially lodged plans for its first Gold Coast apartment project since the departure of the Abedian family from the company three years ago, unveiling a new high-rise proposal for a prominent Broadbeach corner site on Old Burleigh Road.

The application was submitted by an entity directed by Tom Jamieson, stepson of longtime Sunland leader Soheil Abedian, and Riaz Rezvanipour, brother-in-law of Sahba Abedian, Soheil’s son.

Sunland acquired the 1,283 sqm site on the corner of Old Burleigh Road and Armrick Avenue for $9.5 million late last year and is now seeking approval for a <a href="https://www.apartments.com.au/new-apartments/99-101-old-burleigh-road-broadbeach-qld-4218">42-storey tower with 81 apartments</a>.

<img alt="First look: Sunland Group returns to Broadbeach with new Old Burleigh Road tower plans" data-entity-type="file" data-entity-uuid="fea2946d-90ee-4cfc-babe-2a8ad5db2cb6" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/pers.png?VersionId=BV0fihJw31nDIQ8ozY_h3GbS8mxDyhnm" />

Designed by <a href="https://www.apartments.com.au/architects/contreras-earl-architecture">Contreras Earl Architecture</a>, the proposed tower at 99-101 Old Burleigh Road would deliver a predominantly larger-format apartment mix aimed at the owner-occupier market. Plans include 17 two-bedroom apartments, 55 three-bedroom apartments, and nine four-bedroom residences across 35 residential levels.

The development also incorporates three basement levels, four podium parking levels, two levels of communal recreation facilities, and rooftop plant and equipment. A total of 189 car spaces are proposed, significantly exceeding the 90 spaces required under the planning scheme.

The architecture adopts a sculpted, curvilinear form, with deep wraparound balconies and integrated landscaping intended to soften the tower’s vertical expression. The planning report states the building’s “slender footprint/form provides a complimentary yet varied built form within the local streetscape” and contributes to “a varied, yet ordered skyline.”

Contreras Earl noted in its Architectural Statement that from the early stages, the project addressed a fundamental challenge: how to accommodate the required residential yield while avoiding the conventional model of a tower sitting on a rigid, fully resolved parking podium.

“The most direct response would have been to consolidate parking into a singular, flat podium and extrude a repetitive tower above,” the statement said. “While efficient, this approach would result in a consolidated built form with limited engagement with the surrounding landscape and public realm.”

Instead, the conventional podium model was “deliberately rejected”. The architects described the base of the building as “a landscaped architectural condition where structure, planting and circulation are integrated”.

“Rather than presenting a continuous built mass, the base of the building is articulated through a series of concrete planter elements that organise the podium into a fragmented system,” the statement said. “This approach reduces the perceived bulk of the lower levels while establishing a more permeable interface with the streetscape and adjacent open space.”

<img alt="Sunland" data-entity-type="file" data-entity-uuid="923fad8d-c960-4527-8fbe-975cf1ddf88d" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-05-25%20at%2010.32.03%E2%80%AFAM.png?VersionId=pngwb0hYOIUpq9vDw6F2EsOiVuHF3DiX" />

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The site sits within the High Density Residential Zone and inside the City of Gold Coast’s unrestricted “HX” building height area, where the planning framework anticipates intensified residential development tied to the expanding light rail corridor. The planning report notes the area is undergoing “transition toward more intense development forms” given its proximity to Broadbeach, Surfers Paradise, and high-frequency public transport infrastructure.

Positioned directly opposite Broadbeach Park and within walking distance of Florida Gardens light rail station, the development would sit among a rapidly evolving stretch of Old Burleigh Road that has become one of the Gold Coast’s most active apartment development corridors.

The application joins a growing pipeline of luxury residential projects reshaping Broadbeach, including nearby developments by 5Point Projects, Polycell, and Graya.

The planning report argues the project contributes toward the Gold Coast’s long-term housing targets under the South East Queensland Regional Plan, which forecasts the need for more than 100,000 additional high-rise dwellings across the city by 2046.

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The Abedian family departed Sunland Group in late 2023, ending a four-decade association with the company, and subsequently established the private development firm Abedian &amp; Co. The group is currently delivering <a href="https://www.apartments.com.au/new-apartments/greenmount-residences-cnr-hill-street-and-marine-parade-coolangatta-qld-4225">Greenmount Residences</a> at Rainbow Bay and recently launched <a href="https://www.apartments.com.au/new-apartments/18-mary-avenue-14-18-mary-avenue-broadbeach-qld-4218">18 Mary Avenue</a> in Broadbeach.
</section>

Joel Robinson

First look: Sunland Group returns to Broadbeach new apartment market with new Old Burleigh Road tower plans

The Minns Labor Government has established the new Bays West Delivery Authority to lead the development&nbsp;of the Bays West Precinct and Blackwattle Bay Precinct.&nbsp;

The Authority is charged with creating Sydney’s newest precinct, a thriving, connected, sustainable hub with White Bay Power Station as its cultural heart. Its vision is to build on the area’s natural, cultural and industrial history to shape a vibrant new neighbourhood.

The precinct will deliver up to 8,500 well-located homes, including a minimum of 10 per cent affordable and essential worker homes. Combine new housing with public open space, opening public access to the waterfront for the first time in more than 100 years, while retaining important deep-water facilities to support Sydney’s working harbour.

Located just minutes from the Sydney CBD and connected to a world-class metro, ferry, walking and cycling links, the Bays West precinct will rebalance housing growth towards well-serviced inner-city locations and help tackle the state’s housing crisis.

The Bays West Delivery Authority,&nbsp;an agency of the Department of Planning, Housing and Infrastructure, will report to the NSW Minister for Lands and Property who already has oversight of major precinct renewal projects including at Blackwattle Bay and Barangaroo.

As part of the broader Bays West transformation, the Minns Government recently announced that a proposal from Lendlease to redevelop part of the Bays West Precinct has progressed to Stage 2 of the NSW Government’s unsolicited proposals process.

<img alt="Sydney" data-entity-type="file" data-entity-uuid="2ed71eb9-d8e8-4fa7-b9d1-de4531dcf2f3" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-05-25%20at%209.42.31%E2%80%AFAM.png?VersionId=IDryFIbped9SNDg72LEN_EecvhUsOPvp" />

The Minns Labor Government has also confirmed the Bays West precinct will have a new suburb name. This will be the first major suburb built in close proximity to Sydney’s CBD in decades and will encompass the area currently being referred to as Bays West, including Glebe Island and the White Bay Power Station. Served by a new Metro station just five minutes from the CBD, it will become one of the most populous suburbs in the Inner West and one of Sydney’s premier cultural destinations.

An early works program is taking shape, which&nbsp;includes the first stages of an international design competition.&nbsp;

The aim of the Bays West&nbsp;International&nbsp;Design Competition is to&nbsp;ensure design excellence is embedded in the project from the start. The competition will deliver an&nbsp;urban framework that defines the character, ambition and long-term identity of&nbsp;this&nbsp;former industrial precinct as it transitions to a vibrant, inclusive and sustainable residential&nbsp;neighbourhood.

The competition will be led by the Bays West Delivery Authority in partnership with Government Architect NSW.&nbsp;

It will launch with an invitation for a global Expressions of Interest, before moving to an invitation-only stage that will be assessed by a panel that&nbsp;will provide advice to Cabinet who will select a winner.

Premier of NSW, Chris Minns said the establishment of the new Authority is the first step in transforming the Bays West precinct into a vibrant, livable suburb minutes from the Sydney CBD and two stops from Hunter St Station on the Metro West line.

“The Authority will deliver well-located homes close to the heart of the city and integrate the new precinct with Blackwattle Bay and the new Sydney Fish Market.

“This is a generational opportunity to build a new suburb on the city’s edge and open the harbour foreshore to the public for the first time in a century.”&nbsp;

Minister for Lands and Property Steve Kamper said the new Bays West Delivery Authority established by the Minns Government will turbocharge the development of Sydney’s newest suburb.

“The Authority is working at a record pace to deliver an international design competition, planning pathways and a financial model so that this development benefits Sydney with well-designed homes in a central location, close to public transport, jobs, entertainment and essential services.

“If we want Sydney to stay liveable and affordable, we need to be bold about using underutilised government-owned land to deliver homes for the future while making sure essential working harbour functions can be accommodated.”

Bays West Delivery Authority established to "turbocharge" Sydney’s newest suburb

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;

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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.

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

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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Knight Frank has bolstered its South Sydney industrial team, appointing Daniel O'Brien as a director.
O’Brien has over 15 years’ experience in the property industry and extensive experience across the commercial sales and leasing markets in South Sydney and the city fringe.
In his previous role, he was employed by CBRE as the head of its commercial division in the South Sydney office since 2005. He was with CBRE for 10 years. 
Knight Frank’s national director of industrial, Mr Eugene Evgenikos, said that O'Brien brought across  extensive experience and knowledge in the South Sydney market and would focus primarily on business space/commercial leasing and freestanding site sales.
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Knight Frank appoint new director to South Sydney industrial team

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A private investor has outlaid $12.2 million for a freestanding office/warehouse facility in Lidcombe in Sydney's west.
Located at 42 Birnie Avenue, the modern warehouse has a site area of 13,850 square  metres and a building area of 8,069 square metres.
The property comprises two units, with unit 1 featuring a modern three story freestanding office building, ground floor cafe and a high clearance warehouse to the rear.  The total area of unit 1 is 5,229 square metres.
The second unit 2 is a two-story office building with attached high clearance warehouse. The total area of unit 2 is 2,794 square metres. 
The vendor was TH &amp; TH Chung.
The sale was negotiated by Adam Micola of Savills Industrial .
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Lidcombe, Sydney office/warehouse fetches $12.2 million

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A strata-titled commercial property at Noosaville on the Sunshine Coast has sold under the hammer for $1.1 million.
A local investor purchased the 5/5 Gibson Road property on a yield of about 8.77%. 
John Petralia and Paul Forrest of Ray White Commercial Noosa negotiated the sale on behalf of local business owners.
The 395 square metre property is leased to Jetts Fitness Noosa, which has five years remaining on its current lease. The gym operator is paying net rental of about $96,500 per annum.
Mr Petralia said the marketing campaign for the property attracted about 40 enquiries with one offer to purchase prior to auction.
“With official interest rates at record lows and growing consumer confidence, the moral of this story if you are considering a property that is going to auction make sure you are in position to bid,” he said.
Commercial property yields, he added, were currently ranging between eight to 10%, almost double residential investment yields.
“There is a significant amount of money, including self- managed superannuation funds, chasing quality commercial properties,” said Mr Petralia. 
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Noosaville commercial property sells for $1.1 million under the hammer

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A warehouse unit in the Bibra Lake industrial precinct south of Perth has been sold for $240,000. 
The 4/84 Barberry Way property offered total floor space of about 144 square metres, including a mezzanine level and was built in 2008. The vendor was Belregis Pty Ltd.
Chad Parham and Mathew Garbin of Ray White Commercial Perth were the selling agents.  
The purchaser was a local owner/occupier. 
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Local owner-occupier buys Bibra Lake, Perth warehouse unit

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One of Melbourne's most prominent high streets, Church Street in Brighton, has attracted two national retailers to the area - Trenery and Bonds Kids. 
Trenery, a subsidiary of Country Road Limited, has secured more than 700 square metres at 46a Church Street (pictured above), while Bonds Kids, a subsidiary of Pacific Brands, is opening a store at 40B Church Street.
It is understood the Trenery tenancy is the first Victorian suburban stand-alone store as part of a select roll out of stores under the guidance of the Country Road group.
The premises were previously occupied by Browns Bakery and returned about $86,000 per annum, however Trenery have committed to a rental close to $135,000 per annum. “The space has now been transformed into an ultra-modern tenancy and is regarding as one the most impressive in the street,” said Fitzroys senior associate and leasing agent, Mark Talbot.
The <a href="https://www.propertyobserver.com.au/x-apple-data-detectors://4">40B Church St</a> lease to Bonds Kids is smaller in size but attracted a rental close to $100,000.
“Previously occupied by Stride-Rite, Bonds Kids have also completed a high-end fit out of their new premises, which is sure to rival other children’s wear operators within the street,” Mr. Talbot said.
The Bonds Kids group was currently undertaking a rapid expansion into a select number of shopping strips with, Fitzroys also brokering the lease to Bonds Kids at the Malvern Road, Hawksburn.
The rent payable for Malvern Road store tenancy is believed to be about $90,000 per annum.
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National retailers drawn to Church Street, Brighton

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Sushing - the owners of Sushi Train - is opening its popular Japanese eatery in the North Lakes Central mixed development site in Brisbane.
The company has leased 116 square metres, at shop 102 in North Lakes Central, for 10 years. The outlet and restaurant opens in June.
The lease was handled by Ray White Commercial Brisbane Northside’s Robert Rey and Ellie McGovern.
“This will be the first Sushi Train and Japanese restaurant opening in North Lakes outside of the Westfield Shopping Centre, giving people a convenient location to dine for lunch and dinner,” Mr Rey said.
“We are also looking for another restaurant of similar size to join this restaurant strip.”
North Lakes Central is 25 kilometres north of the Brisbane CBD and the development will aim to provide residents and workers in the fast growing North Lakes area with a mix of restaurants, retail and offices all situated in the one building.
Sushing has secured the North Lakes Central tenancy for a net rental of $62,110 per annum.
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Sushi Train owners opening new store in North Lakes Central development, Brisbane

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Automotive Brands has leased a warehouse facility in the outer Brisbane suburb of Willawong to accommodate its expanding operations. 
The property, at 26 Industrial Crescent, sits within the Acacia Link Business Park and is owned and operated by Goodman. It features a near new 9,712 square metre warehouse building, which has high bay storage areas, office space and internal clearances of at least 10.4 metres. 
CBRE’s Peter Turnbull negotiated the lease deal on behalf of vendor Goodman. Automotive Brands - a division of Metcash Limited - signed a five-year term on the property. 
“This building is almost twice as large as the tenant’s current property in Coopers Plains, which will support and help expand Automotive Brands’ Brisbane operations,” Mr Turnbull said. 
The Acacia Link Business Park is 14 kilometres from the CBD, and benefits from a close proximity to the Logan Motorway, Beaudesert Road and the Ipswich Motorway. 
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Automotive Brands lease Willawong, Brisbane warehouse

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A 7,456 square metre industrial property situated within the Port Melbourne precinct, which currently undergoing urban renewal, has been listed for sale.
The 320 Plummer Street property is described as having a high profile position in the heart of the state government’s Fishermans Bend Urban Renewal Area Plan and offering a range of development opportunities.
The property features a high clearance warehouse totalling 3,110 square metres and an adjoining hardstand, which is in excess of 4,000 square metres in area, with the ability to be occupied immediately. It also has exposure and access to three street frontages. 
CBRE’s Harry Kalaitzis is marketing the property, in conjunction with colleague Dean Hunt.
The expressions of interest campaign closes on 21 May.
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Fishermans Bend, Port Melbourne industrial property listed

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The logistics and transport sectors have emerged as a shot in the arm for Melbourne' s industrial property market, in the wake of the departures of Ford and Toyota from the state.  
A new first half industrial market report from Colliers International titled Investors tighten their grip, said sectors such as direct logistics and 3PL are filling the void created by the continued contraction of manufacturing in Melbourne, as the growing population demands goods, such as cars, that were once made locally and are now imported.
All those goods, it says, require land for and infrastructure for storage and transportation.
"In the northern industrial market, a number of major logistics users are currently in negotiations to lease around 120,000 square metres of space, while the west is now a hub for some of the largest distribution centres in the country", Colliers noted.
Other factors boding well for the city is the high population growth. In the year to September 2013, the city's population grew by 110,500. While the revitalisation of the residential market, particularly the land subdivision market, was also increasing demand in this sector, it added. 
With production of Toyota and Ford not due to fully cease until 2017, Colliers believes that the implications of the shutdown of the motor vehicle industry in Victoria may not be felt for some time.
However it estimates that about 260 hectares of land in total is due to be vacated by car manufacturers in Victoria, of which 205 hectares is in Melbourne itself.
It sees the greatest opportunity to be in Toyota’s site in Altona North, and Holden’s and Toyota’s sites in Port Melbourne.
"The Altona North market is notoriously tightly held, and it is expected that a number of industrial developers will be eyeing the opportunity to redevelop or redeploy the site for alternative manufactures uses", said the report.
The report also went into detail about the flow on effect to the parts manufacturers currently supplying parts to Ford and Toyota.
The south-east precinct is identified as having the highest concentration of impacted industrial space in Melbourne, at almost 370,000 square metres.
"Even though the south-east does not house any major manufacturers producing cars, there is a large parts supplier industry, which is a leftover relic of the days when Holden and others used to manufacture in the area".
 The Outer East also has about 270,000 square metres of space occupied by parts suppliers, the biggest of which is believed to be ANCA plant in Bayswater, which employs around 400 people.
"This plant also exports a large proportion of its product, and is expected to be largely unaffected by the local shutdowns," it added.
All up, Colliers estimates the car manufacturers and car suppliers occupy almost 1.6 million square metres of industrial space throughout Melbourne and Geelong. About 650,000 square metres of this space is occupied by the three  major manufacturers, leaving a further 950,000 square metres of space occupied by parts suppliers.
Colliers said it was difficult to quantify just how many of the parts suppliers would shut down and/or vacate their premises given that many now export their product and have divserified.
It estimates that about 30% of these parts suppliers will be able to survive in the long term.
"If this figure is correct, then about 665,000 square metres of space around Melbourne and Geelong could be vacated", it concluded.
"The biggest impact will be in the south-east and outer east, as these have more scattered plants, and no large manufacturing sites that could be converted to other uses".
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Melbourne industrial market buoyed by logistics and transport sectors

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GUEST OBSERVATION
Behind the buildings that are our business in the commercial and industrial property sector, is the real value: our people.
No matter how much hard work goes into planning, design and construction, a building remains a liability without people; that is, the tenants.
I think our sector can lose sight of the reality that it’s the people who use a building that release the entrapped value in the building.
And while they may be our “tenants” or our “customers”, the reality is that they’re people first, and we all know people value relationships that go beyond the transaction.
We believe the old business saying that the ‘customer you have is the one you want to hold onto’ is a cornerstone for success.
It’s more difficult and costly to get new customers than to retain existing ones.
Our strategy is to retain existing customers – our “tenants”.
We systematically travel the country to meet tenants face-to-face, respecting both their time and their businesses.
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The core of our business is maintaining relationships and keeping tenants happy - and keeping them in our buildings.
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We ensure our tenants can focus on running their businesses rather than stepping outside their expertise. We deal with the complex property processes for them, because that’s our area of expertise.
And no matter where they are on the leasing cycle – 10 years out or just months to expire – we value and deliver the same standard of service.
Putting relationships first builds trust and that means we can move quickly, act decisively and confidently. Our confidence gives others confidence and in turn drives their success.
To explain, less than 12 months ago Quintessential Equity acquired a five level commercial building with a net lettable area of 7,129 square metres at 166 Epping Road, Lane Cove West in Sydney.
The building was 20% unoccupied and had been for some time. Our immediate priority was to attract new tenants, but to do this we had to make significant enhancements. 
Within the first month our engineers had assessed the building’s condition and discussed enhancements with existing tenants, based on their needs.
A year after settling on the property in April 2013, occupancy is now 97.75%.
If you don’t have tenants, your building can quickly become a liability and your asset can enter financial distress. 
The core of our business is maintaining relationships and keeping tenants happy - and keeping them in our buildings.
This is a very simple philosophy, but it pays dividends to us.
And it will be how we continue to run our business regardless of the ups and downs, because it is what we believe.
Shane Quinn is director of <a href="https://www.quintessential.com.au/" target="_blank">Quintessential Equity</a>.
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