<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;

&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.

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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DEXUS Property Group and DEXUS Wholesale Property Fund has secured international law firm Allens to its premises at yet-to-be built 480 Queen Street building in the Brisbane CBD.
The agreement will see Allens take over about 4,000 square metres on levles 24-26 in sky-rise section of the building. The lease will put the occupancy rate in the building to 50%, which is well ahead of the targeted completion date of February 2016. 
Allens will join BHP Billiton, Herbert Smith Freehills and The Executive Centre in the building.
The 480 Queen Street office development is described as a "strategic investment" jointly owned by DEXUS and DWPF located in Brisbane’s ‘Golden Triangle’ office precinct and is being developed by Grocon on a fund-through basis.
It is targeting a 6-Star Green Star and 5-star NABERS energy rating. 
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kjiminez-eaYKfU7qd2

Allens lease three floors of yet to be completed Brisbane building

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A development site opposite Fremantle Port has sold for $2.1 million to the St Patrick's Community Support Centre. 
The 938 square metre site, at 3 Beach Street, is currently occupied by a warehouse and two retail shops, but it has the potential to be developed into a six-level building.
The purchaser - which fended off rival bids from owner occupiers, developers and private investors - plans to occupy the existing building and provide additional affordable housing for the disadvantaged within the community.
Knight Frank associate director Todd Schaffer was the selling agent. 
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Fremantle development site fetches $2.1 million

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Strong competition for a commercial freehold building located within the Footscray Activity Centre has sold for $800,000 above the reserve price.
Four bidders chased the property, at 202-208 Nicholson Street and 37 Albert Street, before it fell under the auctioneers hammer for $5.8 million.
The property encompasses a large land site of about 2,639 square metres with dual 24 metre- plus frontages to Nicholson and Albert Streets.
It features a two-storey commercial office freehold of about 2,706 square metres which includes four ground floor retail showrooms and first floor commercial office accommodation. The property is leased to established tenants with an estimated net rental of $490,000 per annum, which reflected an initial yield of 8.5% to the purchaser.
Among the tenants are Parliament of Victoria (Marsha Thompson MP), Carers Association of Victoria Incorporated, Choice Family Day Car Services, and Haange Family Day Care.
Fitzroys agents James Gregson and David Bourke handled the campaign. Mr Gregson said the property’s location within the Footscray Activity Centre, close to Victoria University, Grocon’s McNabb development and Footscray Railway Station, which was undergoing development, was a major factor in the successful outcome. “We are witnessing greater interest across these inner western markets from investors and developers seeking to get in early and seize these unique opportunities,” he said.
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Footscray commercial freehold building sells for $800,000 above reserve price

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A retail property in the heart of Melbourne's popular shopping district Brighton has fetched $1.3 million at auction.
Three bidders battled it out for Shop 1, 72-74 Church Street, with the end buyer being a local resident. 
The property is used for the sale of stationery and printing services and consists of a single-level brick building of about 127 square metres. It also includes a mezzanine office area accessed via internal staircase. The sale is subject to a new 5+5+5-year lease from January 2014 to established business Bizworks, returning $60,000 plus outgoings and GST.
Fitzroys senior associate Mark Talbot was the selling agent.
“In comparing the recent sale of 46a Church Street, which sold for $3.2 million on a yield of 2.6%, this sale presented excellent value and future growth,” he said.
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Church Street, Brighton shop sells for $1.3 million at auction

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Global transaction volumes for commercial property are tipped to grow by at least 15% in 2014, boosting the annual total of sales to more than US$600 billion. 
The figures were contained in the latest Knight Frank Global Investment report, which showed that the forecast 15% lift is coming off a significant increase in global transaction volumes last year, thanks to a "very strong US market and a revival of activity in Europe".
Global transaction volumes for commercial property -which includes retail, offices, industrial and hotels - came in US$536.7 billion in 2013, reflecting an 18% jump on 2012 and the highest total since 2007.
Total commercial volumes in the Asia Pacific region rose 11% to 118%, with the report noting that Australia had a "very strong year".
The report also revealed that Chinese investment into international property is set to double in this year and that Taiwanese investors are seeking more growth and diversification opportunities outside their local market. It also noted that Australia was a target market for Chinese and US investors. 
Knight Frank head of capital markets, Peter MacColl, said: “The recent increase in outbound Asian capital into both commercial and residential international property has been truly seismic, particularly from China, and shows no sign of slowing down, particularly as “newer” equity from Taiwan, Korea, and private wealth impacts".
 As 2014 progresses, he said, their range of target markets and tolerance to risk would increase, as they become more comfortable with Tier 2 cities and start to look further afield at new sectors, such as retail. "This is driven by a greater acceptance of risk, the fact that pricing is strong in many capital cities and intense competition for stock", he said.
Significantly, Darrent Yates, the firm's head of global capital markets research said that thr relaxation in the rules surrounding Taiwanese Insurers’ ability to invest abroad had set the scene for the country’s largest insurers to "potentially become major players on the world property".
Short term target markets will are expected to be CBD offices in major gateway cities such as New York City, London, Paris, Tokyo and Shanghai.
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Global commercial property transaction volumes to grow at least 15% in 2014: Knight Frank

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Property valuation and consultancy firm, LandMark White has appointed Chris Nicholl as its new chief executive. 
In appointing the 20 year real estate veteran, the board said Mr Nicoll's experience in strategic planning, project execution, his accumulated knowledge of professional real estate services, and markets across Asia
Pacific, would assist in "setting and implementing the future direction of LandMark White". 
Mr Nicolls takes over from Brad Piltz. 
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LandMark White appoint new CEO

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The arrival of some of the world’s top hotel brands in Perth is set give the ageing market a shake-up, forcing upgrades of existing stock and boosting the five-star options in the city.
The impending shake-up was revealed in Colliers International's Between the Flags – Hotels Research and Forecast report which found that almost two thirds of hotels in Perth’s CBD were either built or converted from other uses prior to 1990, with only a handful of new developments in recent years.
With a slew of prominent luxury operators now lining up to put their stamp on the WA capital, "Perth’s hospitality market is in for a facelift", the report said. 
Last week, the Ritz-Carlton announced its plans for a 204-room luxury hotel at Elizabeth Quay. It comes as Crown Towers earmarks a new hotel at Burswood, the Westin at the FESA site on Hay Street, while the old Treasury buildings redevelopment on St George’s Terrace is all slated for hotels of five stars or above. Hilton Hotel has also signalled plans for Perth. 
The arrival of the luxury hotels is expected to significantly boost it the city's five-star options.
Colliers puts the number of five-star hotels in Perth at seven, which combined make up about 1,937 rooms and account for 26% of the city's available hotel accommodation. 
Hotels graded between three and three and a half stars account for 24% of Perth’s accommodation, while four and four and a half star hotels make up the remaining 50%.
“As it stands today, the market in Perth is fairly evenly divided between four groups of ratings – three to three and a half star, four star, four and a half star and five star, which all account for roughly a quarter of available accommodation each, give or take a few percentage points,” said Colliers International director of investment services, Wayne Lawrence.
“However, if we have a look at the calibre of some of the operators and projects in the pipeline in Perth for the next few years, with the likes of the Ritz-Carlton, Westin and Crown, we are going to see that balance become more skewed towards the top end of town and that luxury market.”
Mr Lawrence said that was also likely to have a flow-on effect to Perth’s existing hotel stock.
"The Perth market was marked by a prevalence of old stock, which was below international hotel standards, but with the strength of the corporate market and the limited supply of rooms there wasn’t really a lot of pressure for operators to address that,” he said.
However, with the resurgence of the tourism market and the introduction of these high-end premium operators to the city, he said we’re getting some new life in the sector and that would provide motivation for some of those existing operators to look at refurbishing and upgrading their facilities.
The transition taking place between the corporate and tourism markets was also explored in the report.
Colliers manager of research and urban economics, Michael Knight, said that high levels of corporate travel associated with the resources boom had seen Perth’s hotel market consistently leading other Australian capitals in occupancy and revenue benchmarks in recent years.
Corporate activity peaked in 2012, with the average occupancy rate exceeding 90 per cent in Perth. Last year, he noted, that the occupancy rate sank over the course of the year to an average monthly rate of 83.5% as resources-related spending began to drop off.
However, Mr Knight expects that the tourism market was likely to be a winner from the easing in corporate travel.
“We had a situation for a while there where corporate occupancy of Perth hotels was at a level where tourism struggled to get a look in,” he said.
“With that market now pulling back, we should see hotel vacancy rates and room rates move to a point where they are more appealing to the general tourism market – and it’s worth noting that the general leisure market has shown signs of increasing over the past 12 months.”
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Perth's hospitality market set for a 'facelift' with arrival of top hotel brands

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Industrial sales across Perth reached a seven year high last year, buoyed mostly by strong interest from private investors. 
More than $800 million worth of assets changed hands from 203 properties in the 12 months to December - up on last year's $783 million and well ahead of the five year average of $620 million. 
The results were released in the Savills Key Australian Industrial Transactions Insight report which showed that only Perth and Sydney achieved a spike in transactional activity last year. 
Private investors were again the dominant buying force in Perth, accounting for 34% of the purchases. 
Based on Savills estimates, prime industrial yields as at 31 December ranged from 7.75% and 9% in the north and between 8% and 9.25% in the south. 
"The average yield for investment properties in the north in the quarter to December was 8.38%, a 25 basis point firming over the year. 
Prime industrial capital values were between $1,000 to $1,548 per square for buildings in the north, and between $811 to $1,375 per square for properties in the south. 
The report also shone a light on the shortage of larger sized industrial lots, especially in the core industrial precinct. 
"Some relief may come from larger scale developments in the areas such as Perth Airport and Jandakot Airport, and in less central locations such as Hazelmere, Forrestfield to the east and Neerabup to the north", it said. 
It expects leasing and sales enquiries to remain strong, especially for prime quality properties with warehouses, excess lay down areas and/or gantry cranes installed. 
Bullsbrook was beginning to emerge as a future industrial hotspot, it pointed out, particularly for large transportation firms. 
Savills said if the RBA were successful in stimulating growth in the non-resources side of the economy then "the industrial markets nationally should be the beneficiaries of stronger tenant demand."
"Signs of this were seen in the last six months of 2013 and Savills Research expects this trend to strengthen in 2014." 
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Perth industrial sales hits seven-year high: Savills

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Name: Tom Doran<img src="/images/2014/04/02/tom-doran-profile.png" alt="" style="float: right;">
Position: Associate director - retail sales leasing and projects
Company: Doran Commercial
Office location: Neutral Bay - Sydney
How long have you been in the industry? 
13 years
What's happening in the area you specialise in? 
Retail investment stock continues to tighten buoyed by the low interest rates, falling retail vacancy and the influx of Asian investors.
Describe the most interesting property you have sold? 
10 years ago we sold the Stoned Crow at Crows Nest. The Stoned Crow was renowned for its "Cougar" segment of the market. Being a young impressionable 19 year old at the time i certainly had my eyes wide open when conducting late night inspections.
What are the ingredients to being successful in your job?
Energy, empathy and enjoying yourself.
What aspects of your role do you enjoy the most? 
I love meeting an array of high successful and interesting people. From Wallabies, media celebrities and heart surgeons to Olympians, politicians, mums and dads
Where would you invest a spare $750,000? 
The retail investment market is strong currently. Traditionally investors prefer leased investment rather than vacant possession stock that has to be leased. With the retail leasing market strengthening buying retail strata and leasing can be highly profitable. Before purchasing vacant retail strata you need to ensure that the following is clarified before purchase
<ul>
<li>Access to grease trap and exhaust</li>
<li>What services are available into the shop</li>
<li>Are there any restrictions on usage or trading hours?</li>
</ul>
Which football team do you support?
The mighty Manly Sea Eagles. Go Manly!
What's your favourite app or techno gadget? 
The flashlight on my iphone is crucial in retail property. When entering older buildings or tenancies without power, this is a crucial part of the trade.
How do you use social media? 
We love social media in our office. We have made a commitment to keep our clients as up to date as possible with trends, forecasts and recent transactions. We have tried to break down our social media into segments so that we can provide information the median expects. Our rough rule of thumb is below
<ul>
<li>Linkedin - Strictly business</li>
<li>Facebook - Combination of business and fun</li>
<li>Instagram - Combination of business and fun</li>
</ul>
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In profile: Doran Commercial's associate director - retail sales leasing and projects, Tom Doran

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GUEST OBSERVATION
It’s impossible not to notice that Australia is shedding blue collar jobs. But what about their white collar equivalents and impacts on CBD office demand?
According to Deloitte Access Economics’ latest employment forecasts, while job growth outside of the nation’s CBDs came to a halt in the second half of 2013, business district office jobs are the only big labour market group adding jobs of late. In fact they actually gained momentum in the second half of 2013.
Yet this growth is small, and the recovery is reliant on the positives of low interest rates, a falling dollar and signs of greater willingness by businesses to take on risk.
Although the news will get better in the next couple of years, nothing like the pre-GFC performance of office demand looks to be on the horizon.
With the exception of Sydney , the nation’s office markets are almost all seeing slow growth, the finance sector is still cutting its headcount and the usually reliable business services sector is losing jobs even faster.
Like Sydney, Adelaide is losing jobs, continuing the worsening trend evident since the GFC and Melbourne is motoring in low gear – also losing finance jobs, but with some business services sector resilience.
There are only two exceptions to the ‘slow growth’ character of Australian office markets: Perth, where growth is still good but slowing as cost cutting by the resources sector takes a continuing toll and the state government tightens purse strings; and Brisbane, where recent job gains have restored some previous losses.
Perth is more exposed to resource-related cutbacks than any other state and things are likely to get worse before they get better. Brisbane is already seeing a tentative recovery underway.
So, with a blue collar slowdown and white collar growth faring better inside CBDs than outside them, where to next?
Overall job growth enters 2014 devoid of momentum, yet there are some positives. One is that employment is a backward looking indicator and the news of late on the economy has been improving – retail sales growth is accelerating, evidence of a recovery in housing construction continues to strengthen, and the news out of the US looks good.
That trend points to a few reasons to expect that better job news lies ahead.
The upshot is that Deloitte Access Economics projects office demand growth to improve further from here, but from a pretty weak starting point. 
Damian Winterburn is the national leader of <a href="https://www.deloittecaplandrealestate.com.au/" target="_blank">Deloitte Capland Real Estate Advisory</a>.
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