<a href="https://www.apartments.com.au/developers/s-p-setia">SP Setia</a> has lodged plans for a $750 million, three-tower mixed-use precinct that would complete the long-running redevelopment of Carlton's former Carlton United Breweries site.

The proposal at <a href="https://www.apartments.com.au/new-apartments/185-195-queensberry-street-carlton-vic-3053">46-78 Bouverie Street and 185-195 Queensberry Street</a> spans a 6,468 sqm site, the last remaining undeveloped parcels within the former brewery's 2007 masterplan.

Designed by <a href="https://www.apartments.com.au/architects/cox-architecture">COX Architecture</a>, the development will comprise two purpose-built student accommodation towers and a third build-to-sell apartment tower above a shared commercial podium and basement.

Across the three towers, SP Setia is proposing 606 build-to-sell apartments and 1,499 student accommodation units containing 2,009 beds.

The apartments will sit in the tallest tower, which will rise nearly 200m and 55 storeys. It will become&nbsp;one of the more substantial new build-to-sell apartment projects at the northern edge of Melbourne's CBD.

The apartment mix is weighted toward smaller inner-city product, with 188 studios, 206 one-bedroom apartments, 192 two-bedroom apartments and 20 three-bedroom apartments

<img alt="First look: SP Setia plans three-tower finale for Carlton’s former CUB precinct" data-entity-type="file" data-entity-uuid="8271bc87-1b0a-41b7-ac73-a425ee375261" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/3_2.png?VersionId=G4lw23o90B1boX4k4dj7rdz2ZEajS9wy" />

Part of the precinct will be a large-scale&nbsp;3,684 sqm supermarket and a further 2,198 sqm of speciality retail, creating close to 5,900 sqm of new commercial space within the precinct.

But one of the biggest components of the proposal is what sits between the buildings.

Around 4,650 sqm, or roughly 72 per cent of the site, will be publicly accessible open space, incorporating plazas, pedestrian connections, landscaped laneways and retail spill-out areas.

The ground plane is intended to finally complete pedestrian connections envisaged when the CUB masterplan was first approved nearly two decades ago, stitching together Victoria Street, Queensberry Street, Bouverie Street and Swanston Street through the former brewery precinct.

Urbis said the development would "complete the CUB precinct", with the public realm providing important north-south and east-west connections through what is currently the final undeveloped portion of the masterplanned site.

SP Setia is also exploring a new linear park within the Bouverie Street road reserve, with the concept to be developed further with the City of Melbourne through the planning process.

The proposal is being pursued through the Victorian Government's Development Facilitation Program under Clause 53.23 for significant residential development with affordable housing.

The planning report acknowledges the proposed heights exceed those contemplated under the original Comprehensive Development Plan and masterplan, but argues the built-form context has changed considerably over the past two decades.

Urbis said the three towers would instead create a stepped transition between Carlton and the Hoddle Grid, rising progressively from the 94.1-metre Tower One along the Queensberry Street edge to the 199.44-metre Tower Three closer to the established CBD-scale buildings to the south.

<img alt="SP Setia" data-entity-type="file" data-entity-uuid="e885a07a-592c-40fc-bf82-e6dbaf32da54" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-21%20at%208.52.24%E2%80%AFAM.png?VersionId=7s_ErUkSKAdY1mAWp3GRZgMNCGtwhk5m" />

SP Setia plans to deliver the development across three stages.

Stage One would deliver the basement, podium and retail areas for the entire precinct alongside the first student tower. Tower Two would follow in Stage Two, before the 606-apartment Tower Three is delivered as the final stage.

If approved and delivered, the project would close out a redevelopment process that has been underway since the former brewery masterplan was approved in 2007, adding more than 2,600 student beds and apartments to a precinct already home to Swanston Central, the Barak Building, RMIT Design Hub and several large student accommodation developments.

&nbsp;

&nbsp;

Joel Robinson

SP Setia plans three-tower finale for Carlton’s former CUB precinct

Melbourne developer Lowe Living is seeking to add to its growing bayside apartment pipeline, filing plans for a boutique eight-residence development in tightly held Middle Park.

Lowe Living, which has built much of its development portfolio across Melbourne's affluent bayside and south-east suburbs, is behind the plans for the 730 sqm site at <a href="https://www.apartments.com.au/new-apartments/123-125-erskine-street-middle-park-vic-3206">123-125 Erskine Street</a>, just off Armstrong Street and within the Armstrong Street Neighbourhood Activity Centre.

The developer is seeking approval for a five-storey residential building above two basement levels, with just eight large-format apartments and 18 car spaces.

“This is a deliberately very different proposition for us,"&nbsp;Tim Lowe, Co-Founder of Lowe Living, said.

"Eight residences is exceptionally boutique, but that's precisely what this site calls for.

“There is a strong community in Middle Park and the surrounding suburbs who have spent decades building a life here. They no longer want the maintenance of a large period home, but they aren't prepared to compromise on space, quality or location. We think there is a real opportunity to capture that hyper local market. A site like this rarely comes to market.”

<img alt="Lowe " data-entity-type="file" data-entity-uuid="875fe572-0f14-4d90-9e11-55b28dd07731" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-21%20at%208.42.49%E2%80%AFAM.png?VersionId=GDNQRv9BfpR9r1zkZ5UDyUM4ZvpIksut" />

The low-density proposal has been designed by Cera Stribley and is being progressed through the Victorian Government's Great Design Fast Track pathway, having already secured eligibility from the Minister for Planning.

The Office of the Victorian Government Architect supported its eligibility after finding the proposal demonstrated consistency with the program's seven design principles, while the project's financial feasibility has also been independently confirmed by Invest Victoria.

The project is targeting the downsizer market, with the planning documents describing the homes as larger-format residences and noting the two penthouses could otherwise have been configured as four separate apartments.

<img alt="Lowe 2" data-entity-type="file" data-entity-uuid="60ab0987-2da6-4175-adac-315dcf6053c6" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-21%20at%208.43.15%E2%80%AFAM.png?VersionId=bOCPH0B2MFwlmaRW.TTCF9TzyifgVoQI" />

The site has dual frontage to Erskine Street and Canterbury Place and currently comprises a collection of commercial buildings used as offices, including a former heritage bakehouse, a former stable, a later gabled addition and a central courtyard.

It sits within the Commercial 1 Zone and the Armstrong Street Commercial Precinct heritage overlay, with the existing property classified as a contributory heritage place.

Heritage has subsequently played a significant role in Cera Stribley's design.

The front section of the former bakehouse facing Erskine Street will be retained, including its return walls, street-facing hipped roof and chimneys, while the Erskine Street façade and part of the western return wall of the former stable will also be incorporated into the new development.

Levels four and five will be set back five metres from the retained stable façade, while bricks removed through demolition are proposed to be salvaged and reused within the new building where possible.

<img alt="Lowe 3" data-entity-type="file" data-entity-uuid="e97927a9-a2de-4a0f-83b6-65451238abfa" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-21%20at%208.43.06%E2%80%AFAM.png?VersionId=VR44AChLrX9q1XPB9GvVQV.ALXXbe4gC" />

Rather than presenting as a single five-storey building to Erskine Street, Cera Stribley has broken the development into a series of distinct forms.

A three-storey infill element will sit between the retained bakehouse and stable façades, with the upper levels recessed behind the heritage fabric. Canterbury Place will similarly feature two three-storey podium forms, separated by a central pedestrian accessway, before the upper two levels step back from the street.

A pedestrian through-link will run through the centre of the project between Erskine Street and Canterbury Place, creating entrances from both sides of the site and introducing landscaping and communal areas through the ground plane.

Landscape architect Acre has designed planting across the ground level, private terraces and upper levels, including a feature canopy tree at level three and integrated planting and arbours across the level four terraces. Five existing Erskine Street trees are proposed to be retained.

Sustainability is also a significant component of the Great Design Fast Track application. The apartments are targeting an average eight-star NatHERS rating, with no residence below 6.5 stars, while the project has achieved a 75 per cent BESS score. Seven of the eight apartments are designed for cross-ventilation, with the remaining residence using mechanically assisted natural ventilation.

The plans also incorporate an 8kWp rooftop solar system, a 5,000-litre rainwater tank and infrastructure allowing future electric vehicle charging for every residence.

Lowe has a strong portfolio across Melbourne's blue-chip suburbs. They recently launched <a href="https://www.apartments.com.au/new-apartments/jardin-house-by-lowe-living-camberwell-335-camberwell-road-camberwell-vic-3124">Jardin House by Lowe Living</a> in Camberwell, their first development in the Stonnington LGA.

Lowe Living unveils Middle Park apartment development

Article summary

<ul data-end="888" data-start="289">
	<li data-end="442" data-section-id="8tsh6o" data-start="289">DVB Projects is preparing to launch its second Gold Coast apartment development, with demolition now underway at 137 Old Burleigh Road, Broadbeach.</li>
	<li data-end="573" data-section-id="1nyxl3e" data-start="443">The 34-level tower will comprise just 49 ultra-luxury residences, including half-floor, full-floor and penthouse apartments.</li>
	<li data-end="717" data-section-id="oiyimj" data-start="574">The launch follows strong demand at DVB's nearby Sea Glass project, which is more than 50 per cent sold and currently under construction.</li>
	<li data-end="888" data-section-id="epk9o9" data-start="718">The development adds to the transformation of Old Burleigh Road, with premium beachfront apartment projects continuing to reshape the tightly held Broadbeach strip.</li>
</ul>

<a href="https://www.apartments.com.au/developers/dvb-projects">DVB Projects</a> is preparing to launch its second Gold Coast apartment development, with demolition now underway on the Broadbeach site as the Sydney developer moves closer to bringing the ultra-luxury project to market.

The 34-level tower at <a href="https://www.apartments.com.au/new-apartments/137-old-burleigh-road-broadbeach-qld-4218">137 Old Burleigh Road</a> will comprise just 49 residences, ranging from half-floor apartments through to full-floor homes and a penthouse. The launch follows the strong sales performance of DVB's nearby Sea Glass development. More than half of the apartments at Sea Glass, on the other side of Broadbeach, have been snapped up, well ahead of its late 2027 completion

<img alt="DVB Projects to commence demolition on $320m Broadbeach luxury tower" data-entity-type="file" data-entity-uuid="2944b4be-c84e-4b54-8dc1-c712e76704c0" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/E02_Exterior_Street%20Level%20Entrance.jpg?VersionId=YoNig7pRdrE3HCue7sUj78LzJteeQf3H" />

The start of demolition at 137 Old Burleigh Road signals DVB Projects’ underlying confidence in the Gold Coast’s luxury beachside apartment sector.

“We see the Gold Coast as one of the most compelling lifestyle markets in Australia, particularly at the premium end where demand continues to deepen,” said Dean Brown, Managing Director of DVB.&nbsp;

“This project has been carefully designed to respond to that demand - delivering large-format residences with a level of quality, privacy and amenity that is still relatively rare in the apartment market on the beachside."

Brown says the site itself is "exceptional."

"Old Burleigh Road is one of the most tightly held beachfront strips, and opportunities to deliver a project of this scale and calibre in this location are extremely limited.”

<img alt="DVB Projects to commence demolition on $320m Broadbeach luxury tower" data-entity-type="file" data-entity-uuid="398f377a-c037-455e-9250-0c5e0d84c35b" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/I12_FF%20Balcony.jpg?VersionId=NwOiRWGMubR1c8wthuEfggklcja7al9." />

The project will comprise 40 half-floor residences of approximately 260 sqm, alongside eight full-floor residences spanning around 524 sqm.

A single penthouse will crown the building, featuring a private pool, barbecue area, indoor gym and dedicated entertaining spaces.

Residents will have access to a resort-style suite of amenities, including a 20-metre pool with daybeds, a gymnasium, hot and cold plunge pools, a sauna, and private residents’ lounge and dining facilities.

<img alt="DVB Projects to commence demolition on $320m Broadbeach luxury tower" data-entity-type="file" data-entity-uuid="d1642bb0-9a66-4427-a022-dfc0988c6287" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/A02_Pool%20to%20View.jpg?VersionId=c0IXPyn_Gp_Kn3XCwzMrqIVkAdCEwVXP" />

Sales agent Todd Matheson, of <a href="https://www.apartments.com.au/project-marketer/pezet-matheson">Pezet Matheson</a>, which is marketing both 137 Old Burleigh Road and Sea Glass, said 137 Old Burleigh Road would address a clear gap in the market for genuine luxury products.

“There are very few opportunities on the Gold Coast where buyers can secure a residence of this size and quality in a new building,” Matheson said.

“What we’re seeing is a growing cohort of downsizers and interstate buyers who still want space - they’re not willing to compromise on living area, entertaining or finishes.

“This project has been designed with that buyer in mind. It offers the scale of a home, combined with the convenience and security of apartment living, in one of the coast’s most desirable positions.”

<img alt="DVB Projects to commence demolition on $320m Broadbeach luxury tower" data-entity-type="file" data-entity-uuid="59aae0ca-5639-4320-8aca-d0bf60f48e43" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/E01_Exterior%20Hero.jpg?VersionId=DS8Zfy2WtgUEtdfe0TEUuf1W1GfcZq8S" />

Located on a 1,156 sqm site one block from the beachfront, the development will replace an ageing walk-up building and is expected to contribute to the ongoing transformation of the Old Burleigh Road strip into one of the Gold Coast’s most prestigious residential corridors.

With the development moving into the delivery phase, 137 Old Burleigh Road is slated to hit the market later this year.

[smartcode_project_cta:default project_id=145141]

DVB Projects to launch second Broadbeach apartment tower as demolition commences

<a data-end="327" data-is-only-node="" data-start="250" href="https://www.apartments.com.au/developers/norus-projects" rel="noopener" target="_new">Norus Developments</a> has lodged plans for a new apartment development in Clayton that would add further momentum to the suburb's emerging Green Street corridor.

Plans have been lodged for the consolidated site at <a href="https://www.apartments.com.au/new-apartments/1359-1365-centre-road-clayton-vic-3168">1359-1365 Centre Road</a>, where Norus is seeking approval for 218 apartments across a 12-storey apartment building designed by <a href="https://www.apartments.com.au/architects/life-architecture-and-urban-design">Life Architecture</a>.

The proposal sits within the Clayton Major Activity Centre at the threshold of the planned Green Street corridor, a landscaped pedestrian connection intended to improve links through the precinct towards Clayton Railway Station.

The development would replace the site's existing collection of low-scale residential and commercial buildings with a single consolidated building, introducing significantly greater housing density to this part of Centre Road.

A retail tenancy is proposed at ground level to activate the Centre Road frontage, accompanied by transparent street interfaces and landscaping intended to create a more pedestrian-focused edge to the development.

<img alt="First look: Norus Developments plans landscape-led apartment project for Clayton’s emerging Green Street" data-entity-type="file" data-entity-uuid="0a5a763a-d9e9-4253-af2f-88008de27ebf" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Clayton%20a.png?VersionId=S2WJJbat1XVkZwB9SnYtygirXgWHiklX" />

The building has been designed with stepped massing and upper-level setbacks to manage its transition towards surrounding residential properties. The planning report describes the approach as one that integrates the building into the landscape rather than treating landscaping as a secondary element.

"A strong landscape and public realm strategy underpins the proposal," Urbis states in the planning report.

"Public benefits include an affordable housing contribution, a new pocket park, generous landscaped setbacks, deep soil planting and integrated Water Sensitive Urban Design."

The report adds that these elements are intended to create "a permeable, pedestrian-focused ground plane that enhances walkability, supports urban cooling and reinforces the emerging Green Street character."

Biophilic and passive design principles extend through the residential levels, with planting, daylight, natural ventilation and views towards landscaped areas forming part of the amenity strategy.

Parking would be concentrated away from the public realm, with 145 car spaces proposed from the rear laneway rather than dominating the Centre Road frontage.

The proposal follows an extensive pre-application process with the City of Monash. Three formal meetings were held between the project team and Council from December 2025 to March 2026, with the scheme evolving through several concept iterations before the current design was lodged.

The project arrives as Clayton prepares for substantial change around its established activity centre and the wider Suburban Rail Loop precinct. Its position on Centre Road places the development within an existing concentration of shops, services and public transport, while the Green Street connection is intended to strengthen pedestrian access towards Clayton Railway Station.

First look: Norus plans landscape-led apartment project for Clayton’s emerging Green Street

<a href="https://www.apartments.com.au/developers/gardner-vaughan-group">Gardner Vaughan Group</a> has officially commenced construction on Bronze on Chevron, celebrating the sod turning of its first-ever Gold Coast development and marking a significant milestone in the company's continued expansion across South East Queensland.&nbsp;

Following the successful delivery of premium residential developments throughout Brisbane and the Sunshine Coast, <a href="https://www.apartments.com.au/new-apartments/bronze-on-chevron-8-mawarra-street-chevron-island-qld-4217">Bronze on Chevron</a> represents Gardner Vaughan Group's entry into the Gold Coast market. Bronze will deliver 119 one, two, three and four-bedroom apartments above two ground-level retail tenancies.

[smartcode_project:default project_id=107520 project_image_fid=367193]

The recent sod turning ceremony was attended by Deputy Mayor Mark Hammel, President of the Surfers Paradise Surf Life Saving Club, Cassandra Sedgman, project consultants, purchasers, project partners and invited guests to celebrate the commencement of construction.&nbsp;

Gardner Vaughan Group Chief Executive Officer Simon Betteridge said Bronze on Chevron represented an exciting new chapter for the business.&nbsp;

"We've spent almost four decades building homes that respond to the way people want to live, and we're excited to bring that experience to <a href="https://www.apartments.com.au/developments/chevron-island-qld-4217">Chevron Island</a>," Betteridge said.

"Bronze on Chevron is particularly significant because it marks Gardner Vaughan Group's first development on the Gold Coast following many successful projects across Brisbane and the Sunshine Coast."

[smartcode_project:default project_id=107520 project_image_fid=367183]

Betteridge said the ground breaking is a proud moment for the&nbsp;team and their purchasers, who can now see their future homes beginning to take shape.&nbsp;

"As both developer and builder, we're able to oversee every aspect of the project from design through to construction, ensuring the quality and attention to detail Gardner Vaughan Group has become renowned for."&nbsp;

Designed by acclaimed architectural practice <a href="https://www.apartments.com.au/architects/cottee-parker-architects">Cottee Parker</a>, Bronze on Chevron has been thoughtfully designed to complement Chevron Island's evolving streetscape while embracing its relaxed coastal lifestyle.

The development will offer generous residences with refined interiors, premium finishes and resort-style amenities, with completion anticipated in early 2029.&nbsp;

[smartcode_project_cta:default project_id=107520]

The development will offer generous residences with refined interiors, premium finishes and resort-style amenities, with completion anticipated in early 2029

Gardner Vaughan Group breaks ground on first Gold Coast development, Bronze on Chevron

Brisbane

<html><body>
Property sale numbers and figures increased slightly in the past three months, according to CoreLogic's latest Brisbane Cityscope.
The property data firm said the last three months to the beginning of May 2017 recorded 13 sales for a total of $441.6 million, with $429.2 million for commercial, $11.9 million for commercial strata and $500,000 for other.
In comparison, the three months to the beginning of February 2017 had 11 sales for a total of $329 million, with $191.2 million for commercial, $2.6 million for commercial strata, $99.6 million for retail, $1.6 million for retail strata and $34 million for other.
The 12 months leading up to the beginning of May 2017 recorded 57 sales for a total of over $1.4 billion, well below the recorded figure for the same time period the year before.
The table below shows sales recorded for the past eight updates of Brisbane Cityscope:
<a href="https://www.propertyobserver.com.au/images/2017/05/24/Screen%20Shot%202017-05-24%20at%2010.32.44%20am.jpg" target="_blank">Click to enlarge</a>
<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/2017/05/24/Screen%20Shot%202017-05-24%20at%2010.32.44%20am.jpg" alt="">
The most significant sales recorded this quarter were:
<ul>
<li>In December 2016 Eagle Street Investment Trust sold its one-third interest in One One One Eagle Street for $284,166,667 to GPT Funds Management 2 Pty Ltd as trustee for the Eagle Street Trust, which in turn is controlled by GPT Wholesale Office Fund. The 47-storey office building has six levels of basement car parking and was completed in April 2012; it was officially opened in August 2012.</li>
<li>The State Law Building at <a href="https://www.realcommercial.com.au/property-offices-qld-brisbane+city-501109743" target="_blank">50 Ann Street</a> (above) was purchased for $145 million by Propertylink Enhanced Partnership, with settlement due in May 2017. JLL, CBRE and Inc RE negotiated the sale which represented an initial yield of 8.18% on passing income of over $11.86 million. The building is leased by The State of Queensland and includes a cafe on the ground floor.</li>
<li>The whole of level 2 at 344 Queen Street was bought for $4.5 million by Kooee Mobile Pty Ltd.</li>
</ul>
<a href="https://www.propertyobserver.com.au/images/2017/05/24/Screen%20Shot%202017-05-24%20at%2010.33.16%20am.jpg" target="_blank">Click to enlarge</a>
<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/2017/05/24/Screen%20Shot%202017-05-24%20at%2010.33.16%20am.jpg" alt="">
Properties currently listed for sale include:
<ul>
<li>160 Ann Street – a 22-storey office building which was extensively refurbished in 2016. For sale by expressions of interest, closing June 1, 2017; agent, Knight Frank (Justin Bond and Neil Brookes) in conjunction with CBRE.</li>
<li>Unit 406 (lot 802), Oaks Festival Towers, 108 Albert Street – a 184 sqm unit on the fourth floor, with 15 sqm in the basement. Scheduled for auction on June 1, 2017; agent, Ray White Commercial Brisbane (Nick Wedge and John Dwyer). The unit was advertised with vacant possession from July 1, 2017.</li>
<li>Shop 15 (lot 38), Anzac Square Arcade, 198 Adelaide Street – an 82 sqm retail unit on the first floor. For sale with an asking price of $800,000; agent, CBRE Brisbane (Lachlan Tully and Callum Short).</li>
</ul>
Properties under contract (conditional or unconditional) include:
<ul>
<li>366 Queen Street – a four-storey office building which was built in 1984. Under conditional contract in early May 2017; agent, CBRE Brisbane (Tom O’Driscoll, Mike Walsh, Andrew Adnam).</li>
<li>545 Queen Street – a ten-storey office building plus a lower ground area to Adelaide Street. Under contract unconditionally for approximately $70 million; agent, Savills (Ben Azar).</li>
<li>Shop 22 (lot 34), Anzac Square Arcade, 198 Adelaide Street – a 67 sqm commercial unit on the first floor. Under contract unconditionally; agent, Blocksidge &amp; Ferguson Ltd (Tom Chan). The unit was advertised with an estimated fully leased income of $44,000 p.a net.</li>
</ul>
</body></html>

j.ballantyne1990-6AQqhLzZaK

Brisbane commercial property sales on the rise: Cityscope

<html><body>
Alceon Captrans JV have sold regional Brisbane shopping centre, Town Square Redbank Plains for an estimated $160 million to Singapore based Rockworth Capital Partners.
Simon Rooney, JLL’s head of retail investments for Australasia said he is seeing a very clear trend towards offshore investors increasingly driving acquisitions of quality Australian sub-regional assets – a trend that’s been building and gaining momentum in 2017.
“Sub-regional retail is the preferred asset class for many offshore groups seeking quality retail exposure, given the defensive and resilient characteristics and positive in built growth outlook," he said.
"Assets which are predominately food, service and convenience-based, with a high proportion of non-discretionary retail and limited fashion, offer enhanced and consistent returns and limit trading volatility.
"The lower rental profile of sub-regional centres also provide attractive opportunities for income and capital growth, via asset repositioning and tenancy re mixing.
“The comparative attractive yield profile available in the Australian retail sector, continues to offer strong relative value for offshore investors as evidenced by the recent transactions of Town Square Redbank Plains to Rockworth Capital and Casey Central, also sold by JLL to M&amp;G Real Estate.
“Domestic institutions are also keenly pursuing sub-regional centres to secure above-benchmark total returns through active management and asset repositioning.
“The latest being the Charter Hall acquisition last week of Salamander Bay (NSW) for circa $175 million and reinforces the significant current interest in the sub-regional sub-sector.
Recent major sub-regional transactions above $50 million:
<table border="1" cellspacing="0" cellpadding="0"><tbody>
<tr>
<td>
Centre
</td>
<td>
Purchase price
</td>
<td>
Cap Rate
</td>
<td>
Sale date
</td>
<td width="68">
Vendor
</td>
<td width="71">
Purchaser
</td>
</tr>
<tr>
<td>
Redbank Plains Town Square, QLD
</td>
<td>
$160,000,000
</td>
<td>
6.25%
</td>
<td>
Dec-16
</td>
<td width="68">
Alceon Captrans
</td>
<td width="71">
Rockworth
</td>
</tr>
<tr>
<td>
Salamander Bay Centre, NSW
</td>
<td>
$174,500,000
</td>
<td>
5.80%
</td>
<td>
May-17
</td>
<td width="68">
Vicinity
</td>
<td width="71">
Charter Hall
</td>
</tr>
<tr>
<td>
Arana Hills Plaza, QLD
</td>
<td>
$67,100,000
</td>
<td>
6.00%
</td>
<td>
Dec-16
</td>
<td width="68">
ISPT
</td>
<td width="71">
Charter Hall
</td>
</tr>
<tr>
<td>
Casey Central, VIC
</td>
<td>
$220,750,000
</td>
<td>
5.25%
</td>
<td>
Dec-16
</td>
<td width="68">
Scentre Group
</td>
<td width="71">
M&amp;G
</td>
</tr>
<tr>
<td>
Campbelltown Mall, NSW
</td>
<td>
$197,000,000
</td>
<td>
6.00%
</td>
<td>
Sep-16
</td>
<td width="68">
Perron Group
</td>
<td width="71">
Charter Hall
</td>
</tr>
</tbody></table>
“Combined with the current circa $3.5 billion Blackstone retail portfolio sale process, the current series of transactions would be expected to drive retail investment activity in Australia to a new record high in 2017.”
</body></html>

Australia's sub-regional retail sector continues to attract strong offshore and domestic demand

<html><body>
 One bedroom units topped new apartment sales in Brisbane in the March quarter, even though sales volume in the city fell nearly 40 percent in the March 2017 quarter from the previous quarter, according to new research by Urbis.
Brisbane’s new apartment market recorded 302 sales in the quarter, but despite the lesser numbers, the weighted average sale price has strengthened compared to a year ago. 
The overall weighted average sale price was $670,861 –  the second highest weighted average sale price ever it said. The price was $595,664 in the comparable quarter a year back, the Urban Developer reported.
The proportion of foreign investor buyers also fell down to 4 percent compared to 20 percent one year ago.
Urbis associate director Paul Riga said some results were surprising.
The one-bedroom one-car product made up the majority of sales (39 percent) for the first time since 2014.
“This quarter we saw some survey results which the market didn’t anticipate, in addition to others we knew were coming,” Riga said. 
“Firstly, one-bedroom one-car product took on the two-bedroom market. These one-bedroom sales were split across a range of developments and precincts, the majority being evenly split between the Inner South (26 percent), Inner West (24 percent) and Inner North (22 percent).”
The one-bedroom one-car product is also the most in demand rental type in addition to the most sold stock type, the Urbis Inner Brisbane Apartment Rental Review said.
“Developers need to look close to home and deliver product attractive to the local investor and owner occupier. The split between owner occupier (19 percent), local investor (26 percent) and interstate investor (32 percent) purchases remained relatively even. However, over the last 12 months foreign investor buyers has gone down from 20 percent to 4 percent. With regulatory changes to our lending, we were expecting this decline,” Riga said.
New apartment supply fell in line with the sales decline, with just 225 units launched this quarter compared to 668 in the previous quarter.
There were more sales than apartment launches  – a good sign because it allows absorption of supply. 
“We will continue to see a slowdown in supply,” Riga said. “Once again apartment approvals dropped to 1,299 units – the lowest number we have recorded since 2014. It is important that the market continues to self-regulate.”
In spite of lesser sales and supply numbers, there was no noted difference in pricing across Inner Brisbane, according to Urbis.
“One-bedroom one-car product pricing did decrease by $20,000, which may have contributed to the increase in sales but it was also location and product specific,” Riga said. “However two, three, four bed and penthouse product all registered an increase in the weighted average sale price.
Riga doesn’t expect a drastic fall in new inner city apartments.
“I don’t expect to see any drastic reduction in price, especially for quality new product in inner city locations.” 
Some recent sales include a one-bedroom apartment with car parking at <a href="https://www.realestate.com.au/sold/property-unit-qld-newstead-125046862" target="_blank">210/28 Masters Street, Newstead, Qld 4006</a> that changed hands for $318,000. The selling agency was Professionals.
<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/2017/06/05/Brisbane1.jpg" alt=""> 
 
Another one-bedroom apartment with car park at <a href="https://www.realestate.com.au/sold/property-apartment-qld-teneriffe-124862434" target="_blank">507/113 Commercial Road, Teneriffe, Qld 4005</a> sold for $415,000 through The Place.
 
<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/2017/06/05/Brisbane2.jpg" alt=""> 
Urbis Brisbane Apartment Essentials Q1 2017 Snapshot
The Brisbane Apartment Essentials Report found:
•302 sales were recorded in the March 2017 quarter, a 37 percent drop in sales from the previous quarter which recorded 480 sales.
•The weighted average sales price for the March 2017 quarter was $670,861, only a $2,420 decrease compared to the December 2016 quarter. This is the second highest weighted average sale price ever recorded.
•One-bedroom one-car product made up the majority of sales at 39 percent of total sales, this is the first time since 2014 that we have seen one-bedroom sales overtake two-bedroom sales.
•Less than a third of new apartments launched in the March 2017 quarter (225 units) compared to the previous December 2016 quarter (668 units).
•Foreign investor buyers down to 4 percent compared to 20 percent one year ago. Split between owner occupier (19 percent), local investor (26 percent) and interstate investor (32 percent) purchases relatively even.
</body></html>

jonathanchancellor-7SQnKwU6yx

One bedroom units outnumber two bedders in Brisbane: Urbis

<html><body>
Buy an apartment  off the plan, get a new car!
That’s the selling pitch for a luxury apartment complex at West End on the edge of Brisbane’s CBD.
The car offer is for buyers if they secure a contract before the end of the financial year, i.e. June 30. 
Online property agency iBuyNew is offering on behalf of a Brisbane developer 10 Toyota Yaris hatchbacks for purchases made in the recently launched ‘The One’ apartment complex.
The One is located at 89 Victoria Street, West End.
One-bedroom apartments are 51 sqm in size and start from $418,000, while two-bedroom apartments range in size from 70-92 sqm and are priced from $570,000-$710,000.
There are 16 individual floor plans to suit buyers of different tastes.
Chief executive of iBuyNew, Alex Caraco, said this was a good time to invest in Brisbane.
“With Brisbane’s residential developments on the rise, there’s no better time than now to invest in property that shows high appreciation,” Caraco said.
“The developer’s offer provides buyers with the perfect opportunity to own an exceptional property in West End plus secure a fabulous new car.”
Construction on The One is expected to start in July.
The apartment complex is close to cafes, restaurants, shopping and recreational spaces.
</body></html>

Brisbane developer lures buyers with car

<html><body>
Metro Property Development has sold a prime apartment development site in Brisbane for a huge 35 per cent discount after buying it for $20 million just two years back.  
Metro bought the 1,890 sqm block on <a href="https://www.domain.com.au/property-profile/13-17-manning-street-south-brisbane-qld-4101" target="_blank">Manning Street </a>in South Brisbane with plans to build a 30-storey tower with 380 apartments, according to The Australian Financial Review.
The what it purchased it for two years ago, in what is a clear sign of the apartment market turning.
The site was bought by local developer ARIA for $13 million.
Property Observer had reported earlier that the Brisbane apartment market is in decline.
This is the first major transaction to show such a dramatic fall in price.
Ironically Metro, co-founded by property identity David Devine, gamed the market in Brisbane three years ago when it booked a $24 million profit in just over six months by selling a separate site in South Brisbane to Chinese real estate giant R&amp;F Properties.
That Hong Kong-listed, Guangzhou-based R&amp;F paid $46 million for that site, the AFR said.
Metro managing director Luke Hartman didn’t give details on the latest Manning Street site sale, just saying the sale was part of a "reweighting of our national development site property portfolio".
"We are recycling capital into the Sydney and Melbourne acquisitions we have made," Hartman said.
<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/2017/06/01/ManningSt1.jpg" alt="">
He defended the discounted sale and added that the Brisbane market was slowing. 
"We have traded seven sites in past three years for a minimum of double what we have paid for them. Both in Brisbane and Melbourne," he said.
The Manning site was being marketed through Colliers International and JLL.
On Metro’s other projects, he said they “have been settling well”. 
“It takes longer to settle than usual but it's not all doom and gloom.”
Metro, which deferred the float of of its company two years ago, has developed thousands of apartments Australia wide and received financial backing from a range of groups such as Alceon and Credit Suisse.
</body></html>

Developer Metro sells off Brisbane apartment site at 35 percent discount

<html><body>
A new residential development in Brisbane’s waterfront Hamilton district has released a new range of apartments.
Brookfield Residential Properties’ Gallery House has released 12 new two bedrooms apartments which also come with a multi-purpose room.
<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/2017/04/10/Gallery%20House%20-%20living.jpg" alt="">
Brookfield’s general manager Lee Butterworth said the release comes after sales of two bedroom apartments, with 40, two bedroom apartments already sold.
The new floorplan was created in response to market demand for flexible living spaces, Butterworth said.
"Our fastest selling apartments in Gallery House have been the two bedroom floorplans, and with limited two bedroom apartments remaining, we saw an opportunity to release the new design to fill a gap in the market," he said.
"The multi-purpose room in the new two bedroom apartments can be used as a study, media room, play room or even as a spare room if extra guests or grandchildren come to visit."
They have worked closely with architect, Cottee Parker.
The 'River Collection' at Gallery House features two and three bedroom apartments with two car spaces and river views; while the 'City Collection' comprises one and two bedroom apartments with either suburban or river views.
One bedroom apartments in Gallery House start from $419,000; the new two bedroom plus multi-purpose room start from $715,000; and penthouses starting from $2.6 million.
For more information, <a href="https://gallery-house.com.au" target="_blank">click here</a>.
</body></html>

New layout released for Brisbane waterfront development Gallery House

<html><body>
Queensland’s economic recovery remains on track, recording its fourth consecutive quarter of growth, expanding by 0.9 percent in Q4 2016, the strongest quarterly result in more than four years, according to Cushman &amp; Wakefield's latest report. 
<a href="https://www.propertyobserver.com.au/images/2017/04/18/Screen%20Shot%202017-04-18%20at%209.42.26%20am.jpg" target="_blank">Click to enlarge</a>
<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/2017/04/18/Screen%20Shot%202017-04-18%20at%209.42.26%20am.jpg" alt="">
"Growth in public investment and stronger household consumption underpinned the positive result, offsetting weakness in private investment.
Brisbane’s occupier market continues to be driven primarily by transport, logistics and construction industries.
Tenant demand continues to improve as tenants take advantage of competitive rents and attractive terms in the prime market," the report stated.
<a href="https://www.propertyobserver.com.au/images/2017/04/18/Screen%20Shot%202017-04-18%20at%209.42.37%20am.jpg" target="_blank">Click to enlarge</a>
<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/2017/04/18/Screen%20Shot%202017-04-18%20at%209.42.37%20am.jpg" alt="">
Volvo has recently committed to a long-term lease, of ~10,000 sq m in the Metroplex Westgate industrial park, for their Australian head office and service centre.
Rental values have remained mostly stable over the last six months, with North and Trade Coast at a premium to other markets in Brisbane.
Prime net face rent in these areas are generally $10-$20 more per sq m for assets &lt;4,000 sq m.
<a href="https://www.propertyobserver.com.au/images/2017/04/18/Screen%20Shot%202017-04-18%20at%209.42.53%20am.jpg" target="_blank">Click to enlarge</a>
<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/2017/04/18/Screen%20Shot%202017-04-18%20at%209.42.53%20am.jpg" alt="">
"Infrastructure projects, such as Transurban’s Logan Enhancement Project, are likely to result in increased tenant demand in the South and West markets, potentially leading to greater upward pressure on rents than seen recently.
"Investment volume totalled $88m in Q1 2017, down from $173m in Q4 2016.
"The South led again in terms of total investment volume, underpinned largely by Deutsche Asset Management’s acquisition of 60-80 Southlink Avenue, Parkinson for approximately $37m," the report said.
<a href="https://www.propertyobserver.com.au/images/2017/04/18/Screen%20Shot%202017-04-18%20at%209.43.08%20am.jpg" target="_blank">Click to enlarge</a>
<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/2017/04/18/Screen%20Shot%202017-04-18%20at%209.43.08%20am.jpg" alt="">
"As a result of ongoing investment, prime yields in the South have compressed a further 25 bps over the past six months.
Occupier and investor demand is expected to strengthen in line with Queensland economic and industrial production growth," the report predicts.
<a href="https://www.propertyobserver.com.au/images/2017/04/18/Screen%20Shot%202017-04-18%20at%209.43.18%20am.jpg" target="_blank">Click to enlarge</a>
<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/2017/04/18/Screen%20Shot%202017-04-18%20at%209.43.18%20am.jpg" alt="">
"While we expect investor demand to remain robust, more restrictive financing terms may see potential owner-occupier refocus on leasing assets rather than acquiring them.
This should provide further support for increased leasing activity going forward," the report advised.
</body></html>

Private investment in Brisbane's industrial market weakens

<html><body>
The outlook for retail markets in Brisbane continues to be generally positive, according to Herron Todd White’s latest report.
The property valuation firm says that however there is now an increasing perception that yields may finally have reached a low point.
“To put the story of recent years into perspective, we have seen retail yields generally move by between 150 and 200 basis points, which based on a starting yield of say 8 percent, translates to capital growth of upwards of 25 percent over a three year period.
 In some instances, capital growth has been upward of 35 percent,” the report stated.
Sales activity has been moderate for the quarter.
Major transactions include Arana Hills Kmart at $67 million, Everton Plaza at $27.5 million and Caboolture Square at $27.5 million.
These showed yields of between 6 percent and 7.25 percent.
At the convenience end of the spectrum there has been less activity with only two centres selling under $10 million.
Both of these were in the North Lakes region and showed yields of between 6.5 percent and 7 percent, the report stated.
Overall, the volume of sales activity has generally been low, primarily as a result of a shortage of stock and lack of other strong yielding investment options.
“With the perception however that yields will be bottoming out, we anticipate a rise in investment sales activity, particularly if interest rates start to rise and there is any suggestion of capital values starting to fall,” the report predicted.
Retail rentals continue to be reasonably restrained with ongoing difficult trading conditions in many sectors putting the brakes on rental growth.
The weakness is evident across the board as high levels of competition, flat wages, internet retailing and changing consumer shopping patterns all contribute to a very tough retail environment.
Good buying opportunities in the market are limited at present as all reasonable assets are heavily scrutinised by a wide number of investors.
There is potentially some more opportunity to value add with secondary centres but even these are holding their value fairly well making owners reluctant to sell.
</body></html>

Brisbane's retail market outlook remains positive: HTW

<html><body>
For first time industrial property investors, the entry point into Brisbane’s industrial markets is typically strata-titled industrial units and small freestanding properties, according to valuation firm Herron Todd White’s May commercial update. 
In more recent times, the development of workstores (very small industrial units) has enabled market entry at very low price points. These are emerging in the market with units in the vicinity of 60 to 100 square metres with entry-level pricing of sub $300,000. 
This compares to industrial units and freestanding properties which now typically start at above $500,000. 
Workstore developments are emerging throughout Brisbane’s industrial precincts and include locations such as Enoggera, Tennyson, Geebung, Tingalpa, Eagle Farm and Northgate. 
Price points for workstores and small strata titled industrial units generally range from $2,200 per sqm to $3,300 per sqm. Investment opportunities also exist for astute investors to acquire B or C grade properties within core locations and value add through refurbishment or reconfiguration. 
The industrial investment market has been relatively strong in contrast to the flat leasing market. The prime leasing market is, however, improving slowly although incentives are expected to continue to rise, say HTW.
“Future rental growth will largely depend on economic conditions, future supply and business confidence,” says the note.
Lease up periods for secondary assets are now up to 12 months. Across Brisbane, prime grade net face rents are ranging from $104 per square metre in the southwestern corridor to $115 per square metre in the Trade Coast precinct. Incentives for prime grade products are averaging 15.7 percent. 
Demand for prime grade stock has been strong with yields across Brisbane reflecting between 6.25 percent and 7.25 percent. Prime yields have tightened by circa 100 basis points over the past 12 months, whilst secondary grade yields have tightened by circa 25 basis points. Yields for secondary properties reflect a range of 7.95 percent to 8.6 percent. Approximately 241,500 square metres is expected to be added to the industrial market by the end of 2017 in the Trade Coast precinct and the southern precinct. 
“We see 2017 as a good time to invest in Brisbane’s industrial property market,” say HTW.  
It outlines a range of factors including: 
• The limited pipeline of new supply, limiting competition and providing price stability; 
• The low interest rate environment at present, which is supporting loan serviceability; 
• Brisbane’s expected growth both in infrastructure investment and economic productivity – the duplication of the runway at Brisbane Airport is one example. This will bolster the productive capacity of the region and will have flow on effects for Brisbane’s industrial property markets; 
• High land values which limits speculative activity; and 
• Brisbane’s relative affordability compared to other capital cities (particularly Sydney and Melbourne). 
Location and building quality are critical in the current market. In terms of location, precincts offering ease of access to major arterial roads and highways throughout 2017. Prime investment opportunities are scarce indicating that further yield compression is possible in 2017. 
“We do however consider that we are getting towards the bottom of the yield compression cycle. Nonetheless, there is ongoing strong demand from investors across all price levels and we anticipate on the whole that value levels are likely to hold firm for the foreseeable future,” say HTW.
On the quality measure, prime buildings offering modern tilt panel construction, higher internal clearances (above nine metres) and drive through or around access are more appealing to occupiers and investors compared to sheet metal buildings with lower clearances and inferior access. 
For investors, the third critical element is the quality of the leasing covenant, including tenant strength, lease term and rent review profile. There is very strong demand when investments tick the right boxes. A low interest rate environment will continue to support sales and leasing activity within the sector.
</body></html>

prateek24-ezbwHMbNAk

Brisbane’s industrial market, strata-titled units provide good entry point

<html><body>
Queensland's oldest Banyan Fig tree will be part of a new residential development in Brisbane's Cleveland Point.
The development is to feature 33 apartments integrated with the heritage-listed tree and is designed by architecture firm The Buchan Group.
Gerry Holmes, director, The Buchan Group director said Banyan Fig tree on site has a 12-metre trunk with an extensive root system underneath, so it was important for us to develop a design that would not impact the tree, both now and in the future," he said.
<img src="https://www.urban.com.au/images/2017/05/19/rsz_1banyan1.png" alt="">
“The building has been significantly set back from the streetscape to provide a buffer between the tree and the apartments and to ensure a generous landscaped area adjacent to North Street’s pedestrian link.
“This also creates an enjoyable space to be used by residents and visitors, while also showcasing the Banyan Tree.
“The design pays tribute to the surrounding urban, historical and coastal context of the area, whilst enhancing the visual amenity of the site for residents, visitors and the local community.
<img src="https://www.urban.com.au/images/2017/05/19/rsz_banyan2.png" alt="">
“The upper floor of the complex is terraced to soften the building’s impact from the street. This design strategy reduces the visual bulk of the building and also allows the project to sit comfortably in the surrounding landscape."
</body></html>

Brisbane

Editor's Picks

Have something to contribute?

Developments

New apartments

New townhouses

News

Brisbane

Editor's Picks

Receive the latest news stories to your inbox

Have something to contribute?

Developments

New apartments

New townhouses

News