<p>Longstanding Gold Coast and Canberra developer <a href="https://www.apartments.com.au/developers/morris-property-group">Morris Property Group</a> is continuing to roll on with its Glitter Strip apartment pipeline, seeking to return to Mermaid Beach with a new 68-apartment development.</p>

<p>Morris, founded by Barry Morris in 1978 and one of the Gold Coast’s most prolific apartment developers over the past two decades, has filed plans for a 12-storey mixed-use building at <a href="https://www.apartments.com.au/new-apartments/36-seabeach-avenue-mermaid-beach-qld-4218">34-36 Seabeach Avenue</a>, on the prized eastern side of the Gold Coast Highway.</p>

<p>The 1,227 sqm site occupies a prominent corner position at Seabeach Avenue and the Gold Coast Highway, opposite the Mermaid Plaza retail and office precinct and around 140 metres walking distance from the future Mermaid Beach South light rail station.</p>

<p><a href="https://www.apartments.com.au/architects/fraser-partners-0">Fraser &amp; Partners</a> has designed the project, which will comprise 68 apartments across a mix of 48 two-bedroom and 20 three-bedroom residences.</p>

<p>The building will rise 12 storeys, reaching a maximum height of 36 metres, with the apartments accounting for a total of 156 bedrooms. The development application also seeks approval for short-term accommodation across the 68 apartments, while two office tenancies are proposed at ground level.</p>

<p>The plans show 108 car spaces across the development, with parking accommodated at ground level and within a three-level basement accessed from Seabeach Avenue.</p>

<p><img alt="Seabeach Avenue and the Gold Coast Highway" data-entity-type="file" data-entity-uuid="c2175c99-12fd-4a3c-9be1-89bbf258a90d" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-20%20at%202.59.41%E2%80%AFPM_0.png?VersionId=iNLzWcE6gaAE76rafhEXfHve.4g4Se0p" /></p>

<p>Resident amenity will be concentrated on level two, where Fraser &amp; Partners has designed a recreation deck with a swimming pool, 90 sqm pool terrace, outdoor barbecue area and gym.</p>

<p>The broader communal offering will also incorporate landscaped spaces, with the planning documents noting the amenity has been designed to provide areas for recreation, social interaction and outdoor living.</p>

<p>The proposal would continue the transformation of the Gold Coast Highway corridor through Mermaid Beach ahead of the arrival of the light rail.</p>

<p>The site is zoned Neighbourhood Centre and sits within the Mermaid Beach/Broadbeach Light Rail Corridor neighbourhood plan. While the prescribed building height is 24 metres, the site is identified within an Urban Neighbourhood context providing for a 50 per cent height uplift to 36 metres.</p>

<p>Planning documents describe the stretch of the Gold Coast Highway between Broadbeach and Nobby Beach as increasingly characterised by medium and high-rise development, with the proposed Morris tower joining projects including Ventura, The Alfred, Oceans and Otto.</p>

<p><img alt="Seabeach Avenue and the Gold Coast Highway" data-entity-type="file" data-entity-uuid="911f193f-e381-4a55-be08-58be87fcf978" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-20%20at%202.59.48%E2%80%AFPM.png?VersionId=oxVvLJaY.SOXEdXrIcogfyEXDfvCmmpM" /></p>

<p>The development would mark Morris Property Group's latest investment in Mermaid Beach, where it has already delivered two apartment projects.</p>

<p>Otto, at 1 Bondi Avenue on the western side of the Gold Coast Highway, comprises 70 apartments across nine storeys. The project was completed in 2019 and includes a residents' gym, recreation deck and swimming pool.</p>

<p>Morris also developed Oceans at 46 Ocean Street, a nine-storey, 70-apartment build-to-rent development completed in 2019. Oceans was the group's first build-to-rent project and incorporates commercial space at ground level.</p>

<p>The two existing Morris projects sit further north along the same Gold Coast Highway corridor as the proposed Seabeach Avenue development. Fraser &amp; Partners' planning analysis specifically identifies both Otto and Oceans among the established built-form precedents surrounding the site.</p>

<p><img alt="Seabeach Avenue and the Gold Coast Highway" data-entity-type="file" data-entity-uuid="14925119-7b71-4812-8149-340317512c7c" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-20%20at%203.00.15%E2%80%AFPM.png?VersionId=aEJqYuw_nTCjcin17BSD0piB1EFotTlj" /></p>

<p>Mermaid Beach represents only part of Morris' considerable Gold Coast footprint.</p>

<p>The family-owned developer has been particularly active in neighbouring Broadbeach, delivering projects including Sierra Grand, Eclipse, Synergy, Qube, Koko, Opus and Malo, while its current pipeline includes Maison and the two-tower Crest development.</p>

<p>Further south, Morris has also developed a string of projects in Burleigh Heads, including Element, Boardwalk and Sandbar, while Essentia expanded its footprint north into Surfers Paradise.</p>

<p>The Seabeach Avenue application has been lodged by PMM Broadbeach Pty Ltd and seeks a development permit for a Material Change of Use for multiple dwellings, short-term accommodation and office uses. Zone Planning Group prepared the planning application, with Fraser &amp; Partners commissioned as architect.</p>

<p>The project comes as the developer continues to expand its Gold Coast pipeline while retaining a significant presence in Canberra. Morris now has more than $2.5 billion of development in its national pipeline and has delivered more than 7,000 homes during its near five-decade history</p>


Joel Robinson

First look: Morris Property Group returns to Mermaid Beach with new Seabeach Avenue apartment development

<p><a data-saferedirecturl="https://www.google.com/url?q=https://www.apartments.com.au/developers/fortis&amp;source=gmail&amp;ust=1787272340808000&amp;usg=AOvVaw3hvFB2uWTRfEyEcpTSnnK9" href="https://www.apartments.com.au/developers/fortis" target="_blank">Fortis</a>&nbsp;is continuing its stronghold on Sydn​ey’s eastern suburbs apartment market, launching&nbsp;in September&nbsp;its latest boutique&nbsp;<a data-saferedirecturl="https://www.google.com/url?q=https://www.apartments.com.au/developments/double-bay-nsw-2028&amp;source=gmail&amp;ust=1787272340808000&amp;usg=AOvVaw0GI5S9-wNeiLUnM-d1uYkw" href="https://www.apartments.com.au/developments/double-bay-nsw-2028" target="_blank">Double Bay</a>&nbsp;development,&nbsp;<a data-saferedirecturl="https://www.google.com/url?q=https://www.apartments.com.au/new-apartments/55-william-double-bay-55-william-street-double-bay-nsw-2028&amp;source=gmail&amp;ust=1787272340808000&amp;usg=AOvVaw2YNouJQcFjiTTgVHbgDLA-" href="https://www.apartments.com.au/new-apartments/55-william-double-bay-55-william-street-double-bay-nsw-2028" target="_blank">55 William</a>.</p>

<p>55 William presents&nbsp;just eight north-facing&nbsp;two-bedroom, three-bedroom and full-floor&nbsp;residences to the market, priced from $4.5 million.</p>

<p>The upcoming launch comes just weeks after Fortis secured approval for the $80 million development, its third eastern suburbs approval in two months. Construction is already underway, with completion targeted for 2028.</p>

<p>[smartcode_project:default project_id=152579 project_image_fid=376250]</p>

<p>55 William adds to a growing concentration of Fortis projects in and around Double Bay, a market the developer has become increasingly active in over recent years.</p>

<p>Fortis previously completed the nine-residence Marmont on New South Head Road, while it is currently developing a mixed-use residential and retail project at 12 Cross Street. Its wider Double Bay footprint also extends into commercial and retail development.</p>

<p>The developer's broader Sydney residential pipeline is particularly concentrated across the eastern suburbs, with projects spanning Doub​le Bay, Ro​se Bay, Wo​ollahra, Dar​ling Point, Poi​nt Piper and Eli​zabeth Bay.</p>

<p>[smartcode_project:default project_id=152579 project_image_fid=376253]</p>

<p>At 55 William, Fortis has again turned to MHN Design Union, the architecture practice behind several of its eastern suburbs projects, while London-based 1508 London has been appointed to handle the interiors and Wyer &amp; Co the landscaping.</p>

<p>The six-level building will comprise a combination of two and three-bedroom apartments, including a garden residence, full-floor apartments, a sub-penthouse and penthouse. Each residence will have secure basement parking and private outdoor space.</p>

<p>A rooftop terrace for all residents, along with select apartments, enjoys views across Double Bay Harbour and toward the Sydney skyline.</p>

<p>Ceiling heights will reach up to three metres&nbsp;in select residences, while the kitchens will feature natural stone and integrated Gaggenau appliances.</p>

<p>&nbsp;</p>

<p>&nbsp;</p>

<p>The boutique nature of the project reflects the type of stock Fortis has increasingly targeted across Sydney's eastern suburbs, where larger apartments and smaller buildings are being pitched primarily toward local owner-occupiers and downsizers.</p>

<p>Fortis Group General Manager Ed Eve said the developer continues to see demand from buyers wanting to remain in the eastern suburbs but move into newer, lower-maintenance housing.</p>

<p>“We're seeing continued demand from local owner-occupiers and downsizers looking for high-quality homes that allow them to remain in the eastern suburbs, close to the lifestyle and community they know,” Eve said.</p>

<p>55 William is also one of the early projects to respond directly to the NSW Government's Low and Mid-Rise Housing reforms. Fortis had previously secured approval for just two townhouses on the 599 sqm site before revising the scheme to eight apartments following the planning changes.</p>

<p style="text-align:start">Situated one street back from Double Bay's water's edge, the project enjoys an enviable harbourside setting within walking distance of Double Bay Village and the ferry wharf.</p>

<p>[smartcode_project:default project_id=152579 project_image_fid=376252]</p>

<p>Fortis has increasingly made the eastern suburbs a major focus of its Sydney pipeline. Beyond Double Bay, it recently completed the 14-residence Piper in Point Piper and has projects underway or planned across Rose Bay, Woollahra and Darling Point.</p>

<p>The developer recently secured approval for Verano in Rose Bay, a six-level development comprising 21 two, three and four-bedroom apartments, also designed by MHNDU.</p>

<p>55 William&nbsp;is soon to be release to the market with VIP appointments commencing early September,&nbsp;with residences priced from $4.5 million.</p>

<p>[smartcode_project_cta:default project_id=152579]</p>


Fortis continues eastern suburbs push with 55 William launch

<p>UAE-based developer Arada has unveiled plans for a $2 billion twin-tower apartment development in Broadbeach, marking its first move into Queensland as it continues its rapid expansion across Australia.</p>

<p>Arada will develop 952 apartments across two towers on a prominent site opposite the Gold Coast Convention and Exhibition Centre, with the project targeted for completion ahead of the Brisbane 2032 Olympic and Paralympic Games.</p>

<p>The project represents Arada's largest commitment to the Australian market since arriving in the country in 2024 and significantly expands a local pipeline that has now grown to eight projects and more than 5,000 homes.</p>

<p>It will also be the first major Queensland project delivered by Roberts Co since the tier-one contractor was acquired by Arada Group in 2025.</p>

<p>Plus Studio has designed the Broadbeach development, which will comprise one, two and three-bedroom apartments across two towers connected by a landscaped podium.</p>

<p>A significant resident amenity offering will include lagoon and lap pools, a gym, sauna and steam room, alongside a mist room, infrared room and salt scrub facilities. Communal terraces, private dining areas, a library, residents' lounge and work-from-home spaces are also planned. Around 1,200 sqm of retail and hospitality space will occupy the ground floor.</p>

<p>The site puts Arada in one of the Gold Coast's most active apartment markets, directly opposite the convention centre and within walking distance of Pacific Fair, The Star Gold Coast and Broadbeach's dining and retail precinct.</p>

<p>It also has immediate access to the Gold Coast light rail network and sits just a few blocks from the beach.</p>

<p>Arada Group Chief Executive Ahmed Alkhoshaibi said Broadbeach represented an opportunity for the developer to expand beyond its initial NSW pipeline.</p>

<p>“Broadbeach is a world-class address that gives us the canvas to create a community of exceptional design and lifestyle quality that genuinely enriches the daily lives of the people who call it home,” Alkhoshaibi said.</p>

<p>“This is our first development outside New South Wales, and it reflects our growing ambition to grow in key urban markets around the country.”</p>

<p>Alkhoshaibi said bringing Roberts Co into the project would give Arada greater control over the development and construction process.</p>

<p>“Delivering this project through Roberts Co, our own tier-one construction business, means we can bring the quality, pace and accountability that our buyers expect.”</p>

<p>The move into Broadbeach comes as Arada accelerates its Australian expansion following its entry into the market two years ago. The developer has assembled a pipeline of eight projects comprising more than 5,000 homes, while the acquisition of Roberts Co last year gave the group its own Australian construction capability.</p>

<p>Globally, Arada has a development portfolio valued at $50 billion comprising more than 55,000 homes across the UAE, United Kingdom and Australia.</p>

<p>The Gold Coast is emerging as the next major market for the developer, with strong population growth and infrastructure spending ahead of the 2032 Games continuing to underpin significant apartment development across the coastal strip.</p>


Arada plots $2 billion Broadbeach towers in major Queensland move

<p>Sydney’s downsizer market is changing, with a growing cohort of buyers prioritising the right home over simply finding a smaller one.</p>

<p>Coronation Property Head of Sales Cam Porter says the traditional idea of downsizing does not necessarily reflect what many buyers are now looking for, particularly those moving from established family homes across Sydney.</p>

<p>Instead, he says they are increasingly becoming “right-sizers”, seeking lower-maintenance homes without sacrificing the space, amenity or quality they have become accustomed to.</p>

<p>“We are increasingly seeing buyers who are not motivated by the idea of simply moving into a smaller property,” Porter says.</p>

<p>“They are right-sizers. They want a home that is easier to manage and better connected, but they still expect generosity, quality and a floorplan that supports the way they live.”</p>

<p>It is a subtle but important distinction in a market where apartment developers are increasingly targeting established owner-occupiers.</p>

<p>[smartcode_project:default project_id=135149 project_image_fid=377495]</p>

<p>For many of these buyers, moving from a house to an apartment is not driven by a desire to dramatically reduce their living space. Instead, the appeal is in removing some of the maintenance associated with a larger home while retaining generous living areas, storage and enough flexibility to accommodate family and friends.</p>

<p>Coronation’s sales team is seeing buyers place particular importance on natural light, practical storage and additional rooms that can be used as guest bedrooms, home offices or secondary living spaces.</p>

<p>Kitchens and dining areas are also playing an increasingly important role, particularly for buyers who regularly entertain or have children and grandchildren visit.</p>

<p>[smartcode_project:default project_id=135149 project_image_fid=377494]</p>

<p>“These buyers still want their home to feel generous,” Porter says.</p>

<p>“They may want less maintenance, but they are not looking for less life.”</p>

<p>The challenge for the broader housing market is providing enough of the right stock to encourage that move.</p>

<p>While much of the discussion around Sydney’s housing shortage has centred on the number of homes being delivered, Porter says the diversity of those homes is equally important.</p>

<p>Older homeowners can remain in large family houses for longer when they cannot find an appropriate alternative in the neighbourhoods where they have built their lives.</p>

<p>“The decision is rarely as simple as wanting fewer bedrooms,” Porter says.</p>

<p>“People are weighing up their connection to a neighbourhood, the space they need for family, the quality of the home and whether it will continue to work for them over the long term.”</p>

<p>It also has implications beyond the downsizer market. Providing suitable apartments for smaller households can free up established houses for families who need the additional bedrooms and land, creating greater movement through the housing market.</p>

<h2>Lillian targets the next stage of apartment buyer</h2>

<p>It is a buyer Coronation is targeting at <a href="https://www.apartments.com.au/new-apartments/lillian-erskineville-9-metters-street-erskineville-nsw-2043">Lillian</a>, its new collection of apartments, terraces and penthouses at Erskineville Village.</p>

<p>Designed by Silvester Fuller, Lillian has been shaped around larger living spaces, natural light and flexible floorplans, alongside landscaped areas, wellness amenity and communal spaces for residents.</p>

<p>The development will form part of Coronation’s broader Erskineville Village precinct, which will combine new homes with green space, retail, hospitality and new pedestrian connections.</p>

<p>[smartcode_project:default project_id=135149 project_image_fid=377688]</p>

<p>McPherson Park will sit at the centre of the precinct, creating a significant new green space alongside the project’s retail and hospitality offering.</p>

<p>For Porter, the opportunity is to give buyers another housing option without forcing them to leave the part of Sydney they already know.</p>

<p>“People should be able to change the type of home they live in without having to change their entire life,” he says.</p>

<p>“For many buyers, Lillian offers the opportunity to remain connected to the Inner West and the city, while gaining access to a more convenient, walkable and considered way of living.”</p>

<p>[smartcode_project:default project_id=135149 project_image_fid=377687]</p>

<p>Coronation will explore the changing <a href="https://lillianresidences.com.au/news/lillian-x-space-x-downsizers-event-27-august/">right-sizer market at an event on August 27</a>, bringing together experts across property, design and lifestyle.</p>

<p>Held in partnership with SPACE, Poliform and Downsizer.com.au, the event will include a property market outlook from economist Michael Blythe alongside discussion around the considerations facing buyers planning their next move.</p>

<p>Attendees will also be able to learn more about the residences and amenity planned at Lillian Erskineville.</p>

<p>[smartcode_project_cta:default project_id=135149]</p>


From downsizing to right-sizing: What Sydney buyers want from their next home

<p>Family-owned builder and developer <a href="https://www.apartments.com.au/developers/omaya">Omaya</a> is bringing its 27-storey The Maybelle development to market, with the 229-apartment tower rising alongside Ismay Reserve near North Strathfield.</p>

<p><a href="https://www.apartments.com.au/new-apartments/the-maybelle-21-parramatta-road-homebush-nsw-2140">The Maybelle</a> will comprise one, two and three-bedroom apartments, with its height providing elevated outlooks towards the Sydney skyline and Harbour Bridge, while other residences will look across neighbouring Ismay Reserve.</p>

<p>Designed by <a href="https://www.apartments.com.au/architects/squillace-architects">Squillace Architects</a>, the tower combines its parkside setting with proximity to the established retail, dining and transport amenity around North Strathfield.</p>

<p>[smartcode_project:default project_id=134873 project_image_fid=376196]</p>

<p>Residences will feature open-plan living spaces and a choice of two interior schemes, while communal amenity is spread across two elevated levels of the building.</p>

<p>Level 8 will be home to the Garden Pavilion, a full-floor resident space incorporating communal entertaining and breakout areas, seating and recreation spaces. Further up the tower, a landscaped Sky Terrace on Level 14 will provide another communal area with panoramic views towards the Harbour Bridge and Sydney skyline.</p>

<p>At ground level, the development sits directly alongside Ismay Reserve, where lawns, walking paths, children's play areas, picnic spaces and recreational facilities extend the green space available immediately around the project.</p>

<p>[smartcode_project:default project_id=134873 project_image_fid=376194]</p>

<p>The Maybelle is also within walking distance of North Strathfield and the Bakehouse Quarter, which provides a mix of cafés, restaurants, shops and everyday services.</p>

<p>Existing rail and bus services provide connections across Sydney, while the future North Strathfield Metro and access to the M4 will add to the transport options available around the precinct. Walking and cycling routes also extend via Powells Creek towards Sydney Olympic Park and its sporting, entertainment and parkland precincts.</p>

<p>Families are also well positioned for access to a broad selection of established schools and education options across Strathfield and the surrounding Inner West.</p>

<p>[smartcode_project:default project_id=134873 project_image_fid=376181]</p>

<p>Omaya has operated in Sydney for more than 35 years, managing projects from acquisition and design through to construction and delivery. The family-owned company is both developer and builder of The Maybelle.</p>

<p>Apartments start from $560,000, with the development protected by 10-year Latent Defects Insurance.</p>

<p>Construction is well underway, with completion expected by the end of 2026 and move-in anticipated from Q1 2027.</p>

<p>[smartcode_project_cta:default project_id=134873]</p>


The Maybelle brings 27-storey parkside tower to market near North Strathfield

Brisbane

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<p>A three-level office building in Brisbane’s inner western suburb of Toowong is up for lease after being given a splash of artwork.</p>
<p>The <a href="https://www.realcommercial.com.au/property-offices-qld-toowong-501803262" target="_blank">555 Coronation Drive</a> office has been given a face lift, with artwork by an Australian artist splashed across the walls of each tenancy.</p>
<p>Four new fitouts are available for lease through Savills and CBRE, who have been jointly appointed on behalf of Centuria. </p>
<p>Leasing agent Peter Dodd of Savills  said they are looking to provide tenants with a ready-to-go workplace.  </p>
<p>“The four tenancies would suit aspirational smaller business that don’t want to be confined by what a traditional office should look like,” Dodd said. </p>
<p>Each tenancy features oversized artwork of the familiar famous faces of Audrey Hepburn, David Bowie, Muhammad Ali, and Prince.</p>
<p><img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/10/13/BowieSuite.jpg" alt=""></p>
<p><img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/10/13/AliSuite.jpg" alt=""></p>
<p><img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/10/13/PrinceSuite.jpg" alt=""></p>
<p>The office spaces range from 145 sqm to 228 sqm, all including boardrooms, kitchen/breakout areas, and 12-17 work stations.</p>
<p>The four office spaces have been designed and furnished to reflect different themes: ‘detailed, fresh, enliven’, ‘enticing, uplifting, contemporary’, ‘welcoming, journey, textured’, and ‘quirky, daring, collaborative’. </p>
<p>“The artwork was completed by Scott Marsh, and we were really excited when Centuria said they were commissioning him to do some art in each tenancy,” Dodd said. </p>
<p>Marsh’s work is known for using a mixture of enamels, acrylics and aerosol, which explores the growing crossover between graffiti and high art, pop culture and the cult of the celebrity. </p>
<p>Earlier this year, Forbes Online cited a research conducted by Exeter University’s School of Psychology that found artwork in the workspace can have a direct impact on employee productivity. </p>
<p>“A painting can alter the mood of a meeting room or a piece of unusual artwork can provide a talking point in a bland corporate space,” Dodd said.</p>
<p>The office site has views of the Brisbane River.</p>
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jonathanchancellor-7SQnKwU6yx

Arty office spaces in Brisbane await tenants 

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<p>Brisbane-based Sentinel Property Group has acquired an industrial site with development potential within the Australia TradeCoast precinct at Pinkenba in Brisbane’s east for $48.5 million.</p>
<p>The acquisition adds to Sentinel’s pooled Industrial Trust portfolio which includes properties at Mayfield in Newcastle, Oxley in Brisbane and Paget in Mackay.</p>
<p>Recently, it purchased a fully leased office building in Cairns for $8.5 million.</p>
<p>The 69 Tingira Street site spans 140,006 sqm and has a waterfront bulk storage industrial facility located there.</p>
<p>It was purchased in a leaseback arrangement with listed industrial chemical company Incitec Pivot Pty Ltd (ASX:IPL). </p>
<p>IPL will continue to run its fertiliser distribution centre from the site and will lease nearly 11.5 ha of the property with 2.5 ha on Soutter St available to Sentinel for further development. </p>
<p>The site benefits also from an adjoining wet lease of 15,370 sqm with associated wharf infrastructure.</p>
<p>The deal was negotiated by Anthony White and Simon Beirne of Colliers International.</p>
<p>Sentinel managing director Warren Ebert said this was a tremendous opportunity to acquire a major industrial facility in Pinkenba at a strong investment yield above what prime industrial assets are currently trading for, as well as benefitting from development upside.</p>
<p>“This site offers unique ongoing investment potential with core bulk storage and liquid storage assets in low supply throughout Brisbane, particularly when coupled with direct river access,” he said.</p>
<p>Yields for recent sales of industrial facilities have been in the range 5.5-7.5 per cent. </p>
<p>The passing net yield for the Pinkenba site was 8.2 per cent, he said.</p>
<p>“This is also one of very few sites with wharf access in Brisbane that can accommodate Handymax class vessels of up to 188m long and 34m wide and capable of both liquid and bulk cartage.”</p>
<p>Ebert said it was an ideal time for Sentinel to purchase in the Australia TradeCoast precinct as it is a tightly held market due to the lack of available land.</p>
<p>“The proximity to Brisbane Airport, Port of Brisbane and major transport infrastructure continues to drive demand in this precinct. </p>
<p>“The Port of Brisbane is one of Australia’s fastest growing container ports and Queensland’s premier multi-cargo port, handling almost $50 billion in trade annually.”</p>
<p>Colliers’ Anthony White said he expected the increased sale and leaseback activity, particularly from corporates, in the TradeCoast precinct to continue.</p>
<p>Sentinel Property Group has a total national portfolio of more than 40 retail, industrial, office, land, tourism infrastructure and agribusiness assets in Queensland, New South Wales, Victoria, Western Australia, the Australian Capital Territory and the Northern Territory with a total value of more than $1 billion.</p>
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Sentinel buys industrial site in Brisbane for $48.5 million

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<p>A four-bedroom New Farm house designed by well known Brisbane architect Shaun Lockyer has been listed.</p>
<p>The house at <a href="https://lockyerarchitects.com.au/project/62v-2016/" target="_blank">62 Villiers Street</a> in Brisbane’s inner suburb has been completely renovated.</p>
<p>62V was conceived of as a ‘raw’ house embodying the principal of using basic but honest materials to create a rich aesthetic from simple elements. </p>
<p><img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/10/06/62V-2.jpg" alt=""></p>
<p>The project included the refurbishment of a turn-of-the-century cottage built around an internal courtyard to optimise the lifestyle benefits of a seamless indoor/outdoor relationship. </p>
<p>The home, with rooftop terrace with city views, has been listed through <span>Ivo Kornel</span> of Belle Property.</p>
<p>It last changed hands for $1,030,000 in 2015 when it was an old cottage.</p>
<p> </p>
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Shaun Lockyer-designed New Farm house on the market

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<div class="cq-article-content-paras section">BPM development boss Jonathan Hallinan has revealed only two settlements failed to proceed in two projects in the past two months, in the supposed much-troubled Melbourne and Brisbane apartment markets.</div>
<div class="cq-article-content-paras section">
<p>They were the 40-unit Black Fold project in Brisbane's West End and the 30-unit Light Edge project in Melbourne.</p>
<p>"We've settled 70 in the last two months," Hallinan told Fairfax Media.</p>
<p>"Over two projects, we've had two fall over. Those two were very quickly resold."</p>
<p><span>Black Fold was a collaboration between BPM, <span>Noel Robinson Architects</span> and Hecker Guthrie with one and two bedroom apartments.</span></p>
<p><span>The <a href="https://www.facebook.com/bpmdevelopment/photos/a.1599677896987160.1073741834.1586943561593927/1599677926987157/?type=3&amp;theater" target="_blank">27-29 Bank Street project</a> was a </span>sellout after its 2015 marketing.</p>
<p><span>Black Fold's rooftop terrace is complete with entertaining arena and uninterrupted views across the city.</span></p>
<p>Black Fold is situated 1.5 kilometres south west of the CBD.</p>
<p>BMP property management's division is offering rentals including a 2 bedroom, 2 bathroom apartment with 1 car space from $470 per week to $575 a week.</p>
<p>They are offering four weeks rental for free.</p>
<p>Hello Realty has a 2 bedroom, 1 bathroom apartment available at $430 a week.</p>
<p>The 204 apartment,<span> currently rented out at $400 per week with the lease ending June, 2018, has been listed at $445,000.</span></p>
<p><span>It sold off the plan at $417,500 in 2015, the cheapest among the block which saw sales up to $575,000.</span></p>
<p><span><span>BPM’s​ project, Light Edge, 30 apartments over six levels came with a design by DKO Architects, on Elizabeth Street in Richmond.<br></span></span></p>
<p>It <span>sparked immediate buyer interest with 15 sold or reserved within two weeks of its sales release in late 2015.</span></p>
<p><span>They sold between $417,500 and $775,000.</span></p>
</div>
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j.ballantyne1990-6AQqhLzZaK

BPM apartment settlements proceed with just two defaults

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<div>When I first came to Sydney in the 1990s, there was a lot of talk about housing being expensive, although in truth it was still possible buy decent blocks of land reasonably close to the city, at least in the less fashionable inner western suburbs.</div>
<div> </div>
<div>I can also remember years ago reading a blog by Property Update contributor Stuart Wemyss, which argued that although some parts of Melbourne were evidently expensive, most of the talk about oversupply and a property bubble was just short term noise. </div>
<div> </div>
<div>Wemyss highlighted a very similar point: you could still find decent blocks of dirt close to the city, for a price that wasn't absurd - demonstrably not the case in many so-termed 'global cities', which Melbourne aspires to become - and over the years he was proven right.</div>
<div> </div>
<div>I feel a bit the same about Brisbane today.</div>
<div> </div>
<div>Sure, there are some suburbs that are expensive, as you would expect with the Greater Brisbane population approaching 2.5 million. </div>
<div> </div>
<div>But you can still find blocks of land reasonably close to the city, within a 6-8km radius of the CBD, for a relatively good price. </div>
<div> </div>
<div>Of course, there will be ups and downs, but over the next couple of cycles the right property types and locations will likely perform very well, in my opinion, especially in good school zones. </div>
<div> </div>
<div>Although some areas have been overbuilt with high rise apartments, south-east Queensland will offer some of the best opportunities over the decades ahead, as it expands as a population hub and becomes more popular with Asian migrants. </div>
<div> </div>
<div>The forthcoming Commonwealth Games will be a plus too.</div>
<div> </div>
<div><strong><span style="text-decoration: underline;">Slump, and rebound</span></strong></div>
<div> </div>
<div>Queensland has always attracted migrants from interstate, and as the resources mega-projects kicked off through the early years of the mining boom, the Sunshine State was pulling in tens of thousands of internal migrants per annum. </div>
<div> </div>
<div>These were unbridled boom years both for Queensland's economy and Brisbane housing.</div>
<div> </div>
<div>From 2010, demand for Brisbane housing slumped, broadly in tune with internal population flows.</div>
<div> </div>
<div>Unfortunately, with apartment projects often taking an age from approval to completion, this was also a time at which many interstate investors settled on new units, which are now under water, figuratively speaking (not only in Brisbane, but in other parts of Queensland too). </div>
<p> </p>
<div class="separator"><a href="https://2.bp.blogspot.com/-d0I2CmhdgPk/Wc9CDDm3V6I/AAAAAAAAmYM/Pk3tVR5P5YMB9zNT-8oVgi4R06aVWBMSQCLcBGAs/s1600/QLD2.jpg"><img src="https://2.bp.blogspot.com/-d0I2CmhdgPk/Wc9CDDm3V6I/AAAAAAAAmYM/Pk3tVR5P5YMB9zNT-8oVgi4R06aVWBMSQCLcBGAs/s640/QLD2.jpg" width="640" height="380" data-original-height="758" data-original-width="1271"></a></div>
<p> </p>
<div>More literally speaking, Brisbane experienced severe floods in 2010-11, which arguably exacerbated a downturn that was already in the post as LNG projects approached completion.</div>
<div> </div>
<div>By March this year, estimated interstate migration to Queensland had risen to its highest level since 2009.</div>
<div> </div>
<div>So, what's going on? It's partly a function of the housing market cycle, with Sydney now expensive, and congested.</div>
<div> </div>
<div>Another boon for Queensland is that took its capex downturn medicine earlier than Western Australia, so although it was painful, the drag has now ended, with roads and other infrastructure projects having kicked off.</div>
<div> </div>
<div class="separator"><a href="https://1.bp.blogspot.com/-14swRzkG8Sg/Wc9rrn08RXI/AAAAAAAAmYk/zodXh_b89Ns1Mm_M21U6coYIVx8ybiRigCLcBGAs/s1600/ENG.jpg"><img src="https://1.bp.blogspot.com/-14swRzkG8Sg/Wc9rrn08RXI/AAAAAAAAmYk/zodXh_b89Ns1Mm_M21U6coYIVx8ybiRigCLcBGAs/s640/ENG.jpg" width="640" height="380" data-original-height="825" data-original-width="1386"></a></div>
<div> </div>
<div>And, after a terrible lull, Queensland employment is suddenly now picking up, rising by an <a href="https://petewargent.blogspot.co.uk/2017/09/jobs-explosion-shatters-forecasts" target="_blank">outsized +95,400 over the year to August 2017</a>.<br><br>And population growth is in turn ramping up just as dwelling starts now collapse, helping to rebalance the ratio of demand to supply.<br><br><div class="separator"><a href="https://1.bp.blogspot.com/-NZ6sGlCUijI/Wc-BAtgAALI/AAAAAAAAmY4/jAB2Gm1ySpkxztQzoMQnS8YgwGDJsY9wgCLcBGAs/s1600/A1.jpg"><img src="https://1.bp.blogspot.com/-NZ6sGlCUijI/Wc-BAtgAALI/AAAAAAAAmY4/jAB2Gm1ySpkxztQzoMQnS8YgwGDJsY9wgCLcBGAs/s640/A1.jpg" width="640" height="390" data-original-height="830" data-original-width="1362"></a></div>
</div>
<div>You didn't really need ABS estimates to tell you about the migratory shifts, since every second person in inner city Brisbane seems to have just relocated from Sydney, or from Perth in many cases. </div>
<div> </div>
<div>With the Sydney market now slowing, there will no doubt be a great surge in interest in Brisbane property - that's just the way the cycle goes. </div>
<div> </div>
<div><strong><span style="text-decoration: underline;">White shoes alert</span></strong></div>
<div> </div>
<div>A few caveats, however, if you're thinking of buying a Brisbane property investment.</div>
<div> </div>
<div>Of all the capital cities, Brisbane plausibly has the patchiest housing market - some locations and dwelling types are experiencing strong price growth, while others are struggling big time.</div>
<div> </div>
<div>Be wary about locations prone to flooding, and definitely watch out for white ants (termites)! </div>
<div> </div>
<div>Oh, and real estate laws are different up north, so you need to understand how to make offers subject to certain conditions. </div>
<div> </div>
<div>Personally, I would buy established not new property, for way too many heads have been burned buying new of off the plan up north. </div>
<div> </div>
<div>Finally, there is a long history of southern buyers getting brazenly fleeced on Queensland property deals by slick sales techniques - the famed white shoe brigade - so make sure you don't become yet another casualty. </div>
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pwargent-M4siyDbqQY

Southerners need to avoid being fleeced by Queensland's famed white shoe brigade

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<p>Brisbane is at the 11th spot among global cities for the most office floor space that can be bought for US$100 million, fetching 14,607 sqm in the CBD area but this could change as the leasing market recovers and prices head north, says a new report by Knight Frank.</p>
<p>The report, Global Cities 2018, compares how much USD100 million will buy of prime office space in 34 top cities across the world. </p>
<p>Melbourne and Sydney sit at 15th and 23rd on the list respectively, with Melbourne fetching 12,719 sqm of CBD office space for USD100 million while the same money can get you 7,087 sqm in Sydney.</p>
<p>Knight Frank’s managing director, Queensland, Ben McGrath said that investor interest has continued to build in the Brisbane CBD market due to the Sydney and Melbourne CBDs recording lower yields and a climate of fewer opportunities. </p>
<p>Brisbane’s office leasing market is recovering, creating limited time to purchase office assets to fully benefit from the expected recovery in tenant demand, according to Knight Frank’s latest research.</p>
<p>“The certainty that the leasing market has bottomed in the Brisbane CBD is providing impetus to the investment market with the view that now is the time to purchase assets to fully benefit from the expected recovery in tenant demand,” said McGrath.</p>
<p>“Additionally, the demand from large tenants for new space will provide the opportunity to secure core investments with limited national supply of these assets.”</p>
<p>Investment demand is also rising because of continued high spread in yields Brisbane has with Sydney and Melbourne, added Knight Frank’s joint head of Institutional Sales, Australia, Ben Schubert.</p>
<p>According to the Global Cities report, Brisbane’s prime office yields sit at 28th in the world out of the 34 cities monitored, with yields at 6.38%, while Sydney and Melbourne are at 20th and 22nd respectively with Sydney yields at 5.06% and Melbourne yields at 5.25%. </p>
<p>“While both Sydney and Melbourne CBDs are far further through the leasing demand cycle, with signs of improvement in the Brisbane market, investment interest has further increased. Yields remain under downward pressure with interest in the Brisbane market continuing to build. Both the yield gap to Sydney and Melbourne and positive signs in the Brisbane leasing market is underpinning this investment interest,” said Schubert.</p>
<p>Knight Frank’s head of Commercial Sales, Australia Paul Henley said, “Investors are increasingly expanding their global portfolios. Those cities going through an evolution driven by a compelling mix of education, lifestyle, infrastructure, technology and real estate makes them places where people want to work, shop, play, and live.”</p>
<p>Knight Frank’s director, Research, Australia Michelle Ciesielski said prime yields have continued to firm in the Brisbane CBD, having fallen to a median range of 5.8% to 6.95% as demand grows.</p>
<p>“In Sydney, the strong investor demand, particularly from offshore investors, is putting significant pressure on yields across the grades, but more so on secondary assets which have a lower price point,” she said.</p>
<p>She cited the sale of 20 Bridge Street on a sub-5% core market yield as an indicator that prime assets in the CBD core are expected to be traded between 4.5% and 5.25%. </p>
<p>“This will be further affirmed when the sale of Wynyard Place is concluded, with market expectation for a yield of close to 4.7%,” said Ciesielski.</p>
<p>In Melbourne, fewer buying opportunities with strong investor demand, particularly by offshore investors, has further compressed prime yields, added Henley. </p>
<p>“Looking ahead, investment volumes are anticipated to remain above the five-year average in 2017. This is unlikely to match volumes recorded in 2014 as impacted by the scarcity of investment opportunities rather than diminishing investor appetite,” concluded Henley.</p>
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prateek24-ezbwHMbNAk

Brisbane CBD ranks 11th globally for value in prime office space: Knight Frank

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<p>A development site in inner Brisbane on which an apartment tower was planned, is being sold by the mortgagee.</p>
<p>It comes as the city’s oversupply concerns loom large.</p>
<p>The RBA has in recent months voiced its concerns over the apartment oversupply in Brisbane. Thousands of completed apartments are set to hit the market this quarter.</p>
<p>The marketing for <a href="https://www.realcommercial.com.au/property-land+development-qld-woolloongabba-502516766" target="_blank">the 1,012 sqm holding on Carl Street</a> in inner-city Woolloongabba is being handed to Cushman &amp; Wakefield by the lender.</p>
<p>The site is two blocks of three that won development approval from the Brisbane City Council for a 91-apartment tower to be called Dietrich on Carl in 2015, according to The Australian.</p>
<p>Situated in the heart of Woolloongabba, the 91 units were to be spread across 12 levels, with a roof top pool and recreation areas.</p>
<p>Close to transport and shops and with a rich heritage, the property was marketed as offering lifestyle and location benefits that would appeal to both owner/occupier and investor alike.</p>
<p>Unit supply in greater Brisbane is scheduled to grow by 20 per cent over the next two years, with 39,420 apartments and townhouses hitting the market, according to property analytics firm CoreLogic.</p>
<p>With more than 2,200 new apartments remaining for sale, developers are under pressure to settle their stock despite tightened lending conditions for foreigners and investors.</p>
<p>Cushman &amp; Wakefield agent Joe Kennedy said there was reasonable interest in the two sites, which is within Brisbane’s eastern corridor zoned for high-density residential.</p>
<p>“The development site market in Brisbane is not what it was two years ago, with all the doom and gloom, but it is starting to pick up again,” Kennedy said. </p>
<p>“This is certainly the first (mortgagee-in-possession) site we’ve had. It’s not something I’ve seen a lot of.”</p>
<p>The entire three block site was bought in two purchases for a $5 million total in 2014 by Sandton Pty Ltd, a Canberra company trading as Precision Living. The company could not be reached for comment, according to The Australian.</p>
<p>Developers have deferred around 43 per cent of apartments in major projects across inner Brisbane due to a decline in sales, higher construction prices and tighter lending conditions, a report by Place Advisory’s June Quarter said.</p>
<p>Smaller development sites were still scoring deals, Kennedy said, citing site sales for 12 to 20 units within their office totalling $12 million in the popular western suburb of Indooroopilly.</p>
<p>The oversupply story is true for established Brisbane developers. Metro Property Development last year sold a site on Brunswick Street in Fortitude Valley and Montpelier Road in Bowen Hills for a combined loss of $11.2m.</p>
<p>The company later sold their Manning Street site for $13 million, making a loss of $7 million, to Aria Property Development.</p>
<p>Metro has also put the final two stages of its Central Village apartment complex in Fortitude Valley up for sale through JLL.</p>
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Mortgagee Brisbane development site on the market

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<p>The Batman tunnel home, reminiscent of the caped crusader’s film sets, has sold for an undisclosed sum, achieving the top sale price this year in the exclusive suburb of Ascot after being on the market for a mere 34 days.</p>
<p>The six-bedroom house at <a href="https://queenslandsothebysrealty.com/1P0292/128-crosby-road-ascot" target="_blank">128 Crosby Road</a> was listed with $10 million plus expectations.</p>
<p>The sale eclipses that of 26 Mayfield Street, Ascot, which sold last month and was listed for expressions of interest in the range of $7.5 million to $8.5 million, and that of the $8.3 million sale for 24 Palm Avenue, Ascot, which sold off-market in February.</p>
<p>It also set the highest sale price per sqm ever for a property in the prestige Brisbane suburb, according to a media release.</p>
<p>The property received wide exposure via Sotheby’s International Realty affiliates throughout 63 countries, positioning the property in for buyers all around the world.</p>
<p>It was featured in the New York Financial Times print and online editions, Mansion Global and the Daily Mail UK, as well as front page of the Courier Mail Real Estate Liftout and AFR’s Domain Prestige, Channel 7 Brisbane News and Sky Business News, among others.</p>
<p>The property received more than 100,000 views on realestate.com.au.</p>
<p>Enquiries came in from Sydney, Melbourne, London, New York, Toronto, Hong Kong and Singapore.</p>
<p>Tyson Clarke of Queensland Sotheby’s International Realty said more than 90 groups inspected the architecturally designed home and there were 23 private inspections, attracting a wide range of highly qualified buyers, all specifically wanting an Ascot Hamilton address.</p>
<p>Sotheby’s Ascot principal, Stephen Weber said Sotheby’s was able to “leverage our local connections, empowered international resources and meaningful partnerships in the marketing and the sale of this amazing property”. </p>
<p><img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/07/04/126%20Crosby%20Road-3.jpg" alt=""></p>
<p>Situated on the edge of Bartley’s Hill, the home has been built as a family estate that is also the ideal entertainer. </p>
<p>Reminiscent of a Hollywood film set, the 50 m concrete enclosed tunnel, one of two entrances to the home, extends upwards to an underground bunker-like garage capable of accommodating eight to 10 cars.</p>
<p>The tunnel, internal lift system and house is a complex feat of engineering.</p>
<p>Vendor Brett Walker said the sales and marketing process with Queensland Sotheby’s was rigorous, passionate and absolutely professional.</p>
<p>“The campaign and very quick sale speaks for itself, congrats to the entire team on a job well done,” he said.</p>
<p>Its features include a theatre, study, billiard room, wine cellar, two pools, a gymnasium spanning half a level, a zen room, outdoor kitchen and two laundries.</p>
<p>The home’s elevated position capture 180 degrees of the surrounding landscape from the vista of Moreton Bay through to Mt Coot-tha.</p>
<p> </p>
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'Batman-tunnel' home in Brisbane's Ascot sells for undisclosed sum

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<p>A vacant land at Woolloongabba, Brisbane, Queensland has been listed for mortgagee sale.</p>
<p>Located at <a href="https://www.realcommercial.com.au/property-land+development-qld-woolloongabba-502516766" target="_blank">21-23 Carl Street</a>, the 1012 sqm land is marketed as a strategic, boutique development site.</p>
<p>It is within walking distance to public transport as well as Stones Corner retail area.</p>
<p>There is also 20 metres of Carl Street frontage.</p>
<p>The area is a high density zone with a code assessable allowable height of 12 levels.</p>
<p>There are ample parkings available on the property.</p>
<p>Expressions of Interest close today through Cushman &amp; Wakefield agents Andrew Gard and Joe Kennedy.</p>
<p>A 397 sqm block of land at <a href="https://www.realestate.com.au/sold/property-residential+land-qld-woolloongabba-201795518" target="_blank">29 Bourne Street</a>, Woolloongabba was sold this year.</p>
<p><img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/09/19/29%20Bourne%20Street.jpg" alt=""></p>
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Woolloongabba, Queensland vacant land listed for mortgagee sale

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<p>An iconic building which was home to retailer Walton’s in Brisbane’s Fortitude Valley has been listed. </p>
<p>The former Waltons department store building, which closed down in 1987, has been owned by investment company Mount Cathy Pty Ltd.</p>
<p>The property is being marketed by Knight Frank’s Christian Sandstrom, Justin Bond and Dominic Ong, along with Glenn Gracie of Glenn Gracie Real Estate.</p>
<p>Sandstrom said the property is likely to attract interest from both local and offshore investors as well as developers.</p>
<p>“The property could suit a large cross-section of buyers looking to undertake a substantial refurbishment for re-adaptive use.</p>
<p>“Alternatively under the local plan a substantial mixed use development including retail, residential or commercial of the site is allowable (STCA), which would incorporate the heritage elements of the existing buildings.”</p>
<p>The property has a site area of 3,489 sqm with frontages to both Wickham and Brunswick Streets.</p>
<p>It has an entry to the Fortitude Valley train station and adjoins the proposed $500 million redevelopment of the Valley Metro Centre.</p>
<p>“The property is improved by a number of classical well-constructed buildings and is well-known as the Walton’s building, which was home to one of Brisbane’s largest retailers Walton’s Limited,” Bond said.</p>
<p>“Similar to the recent investment trends, Fortitude Valley has experienced increased institutional foreign investment from the US, UK, South Korea, Hong Kong and China.”</p>
<p>The property is being sold through an international expressions of interest campaign expected to start in four weeks.</p>
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