Abadeen has released the whole-floor penthouse crowning its recently completed <a href="https://www.apartments.com.au/buildings/park-residences-cremorne-2-sutherland-street-cremorne-nsw-2090">Park Residences</a> development in Cremorne, bringing the near-300 sqm residence to market for the first time.

Occupying the entire top floor of the boutique Lower North Shore development, the penthouse includes 221 sqm of internal living and a 74 sqm wraparound terrace, with a prized north-facing aspect taking in views across Middle Harbour.

The residence has been completed and fully furnished following a collaboration between Abadeen Executive Chairman Justin Brown and internationally recognised interior designer Jack Freeman, Founder and Managing Director of FREEMAN &amp; CO.

<a href="https://www.apartments.com.au/developers/abadeen">Abadeen</a> and Freeman approached the penthouse as a finished home, sourcing furniture, artwork, lighting and objects from Australia and overseas.

&nbsp;

[smartcode_project:default project_id=114246 project_image_fid=378718]

Pieces from Parisian design house Pierre Augustin Rose sit alongside contemporary artworks and bespoke lighting, with Freeman drawing on recent visits to PAD Paris and Salone del Mobile Milano for the final collection.

Brown said the aim was to create a penthouse that felt more like a large-scale private home than a traditional apartment.

"The experience begins the moment the lift doors open. You're welcomed into an elegant dining room before the home opens into an extraordinary living space framed by sun-drenched harbour views.

"Every time someone walks through the front door they pause. It's not just the view, it's the incredible sense of space, the warmth created by the northern sunlight that fills the interiors, and the way every room connects so effortlessly.

"It has all the proportions of a luxury home, while delivering the effortless lifestyle and personalised experience of living in a world-class six-star hotel, combined with the simplicity and convenience of apartment living."

&nbsp;

[smartcode_project:default project_id=114246 project_image_fid=378713]

A secure lift provides exclusive access to the penthouse level, opening to a dedicated arrival foyer and dining area before the residence expands into its main living and entertaining spaces.

Floor-to-ceiling glazing runs across the northern side of the home, connecting the interiors with the terrace and Middle Harbour outlook.

The penthouse also features a fireplace and substantial chef's kitchen, while the wraparound terrace has been designed to accommodate both everyday outdoor living and larger-scale entertaining.

[smartcode_project:default project_id=114246 project_image_fid=378720]

Freeman said the interiors had been deliberately kept restrained to complement the scale, natural light and outlook already established by the architecture.

"The penthouse is a serene study in quiet luxury," Freeman said.

"The interior pairs soft, sculptural forms with warm timber, pale stone and a restrained neutral palette. Curated artwork and metallic accents add depth, while abundant natural light creates a calm, effortlessly refined atmosphere. In my world, less is always more."

Freeman said the approach was centred around collecting individual pieces rather than simply decorating the apartment.

"Every material, every object and every piece of furniture has been curated with intention. I am a true believer in collecting versus decorating.

"The architecture already provided extraordinary natural light, remarkable volume and an uninterrupted connection to Middle Harbour. Our role was to complement those qualities with unique one-of-a-kind pieces of fine art and collectible design sourced from recent travels around the world."

[smartcode_project:default project_id=114246 project_image_fid=378694]

Among the collection are solid bronze sculptures by Lorenzo Quinn, alongside a curated crystalware collection and pieces sourced from international design fairs.

Park Residences sits opposite Cammeray Golf Club, Cammeray Croquet Club and Grand Slam Tennis Cammeray, around 300 metres from Neutral Bay Village and its established collection of restaurants, cafés and retail.

Brown said the combination of a whole-floor floorplan, northern aspect and proximity to Neutral Bay was becoming increasingly difficult to find on the Lower North Shore.

"Completed whole-floor penthouses with a sun-drenched north-facing aspect and sweeping Middle Harbour views are exceptionally rare," Brown said.

"Add a quiet position opposite golf, croquet and tennis facilities, a level walk to Neutral Bay Village and only minutes to the CBD, and you have a lifestyle that's incredibly difficult to replicate.

"This is a home that offers the privacy and generosity of a luxury residence together with the convenience of one of Sydney's best-connected harbourside locations."

The penthouse will be exclusively marketed by SRM Residential.

[smartcode_project_cta:default project_id=114246]

Joel Robinson

Abadeen unveils signature penthouse at Park Residences in Cremorne

New Brisbane developer Dalcott has unveiled Marrone, the first of three residential projects it is planning in and around Browning Street in South Brisbane.

<a href="https://www.apartments.com.au/new-apartments/marrone-south-brisbane-39-browning-street-south-brisbane-qld-4101">Marrone</a> will comprise 97 predominantly two- and three-bedroom apartments, with larger residences aimed squarely at the owner-occupier market.

The project will sit in a quiet pocket of South Brisbane between South Bank and West End, close to the restaurants, cultural attractions and riverfront amenity that have driven the suburb's continued transformation.

Dalcott is targeting buyers looking for more space and amenity than has traditionally been offered in the inner-city apartment market, particularly downsizers and professionals wanting to remain close to the city.

[smartcode_project:default project_id=149951 project_image_fid=377072]

Resident facilities will be concentrated around an extensive rooftop amenity offering, including a swimming pool, spa, infrared sauna, warm and cold magnesium plunge pools, private lounge, dining room and outdoor entertaining areas.

Dalcott Managing Director Lachlan Cottee said South Brisbane's combination of lifestyle, connectivity and established character had been central to the approach to Marrone.

“South Brisbane offers a combination of lifestyle, connectivity and character that’s difficult to replicate elsewhere in Brisbane,” Cottee said.

“Our focus has been on creating homes that feel connected to that environment while providing the level of design, functionality and quality that today's owner-occupiers expect.”

The residences will feature an expressive material palette. Italian Calacatta Viola marble, known for its deep burgundy veining, will be paired with aged brass tapware, Chestnut engineered timber flooring and Tuscan Oak joinery.

<img alt="Marrone" data-entity-type="file" data-entity-uuid="b8d833da-3b30-496a-ae30-07bdff371b50" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-25%20at%2010.52.35%E2%80%AFAM.png?VersionId=P6DAgOfaQzIXljKKK5j3e5NhWtrHIu9G" />

Bathrooms will feature Nara Japanese ceramics and glass bricks, while clay, walnut and brass lighting will be used throughout the apartments.

Dalcott has appointed Realm Projects, led by Managing Director Shane Foley, to handle sales and marketing following previous sold-out collaborations between the groups.

Foley said the Brisbane apartment buyer had become increasingly focused on the quality of the home itself rather than simply securing an inner-city address.

“We expect to see strong demand from buyers who still want all the advantages of inner-city living but aren’t prepared to compromise on the quality of their home,” Foley said.

“Many will be downsizers looking to leave behind the maintenance of a traditional family home without giving up the space they enjoy, while others are likely to be professionals wanting a residence that reflects the way they live today.”

“Marrone responds directly to that demand, with generous floorplans, exceptional resident amenity and a location that places some of Brisbane’s best dining, entertainment and cultural attractions within walking distance.”

<img alt="Marrone" data-entity-type="file" data-entity-uuid="61f7b22f-899e-4c0f-940a-7d3ab1bfb93a" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-25%20at%2010.52.44%E2%80%AFAM.png?VersionId=PvN1JYxBgUpyCB7efKo52WGdSDs9nmim" />

Marrone will be the first project delivered as part of Dalcott's broader investment in the precinct.

It will be followed by La Terra, a boutique project comprising penthouse-style, single-level apartments on a northeast corner site with extensive resident amenity and city views.

Cottee said Marrone represented the first stage of the group's longer-term plans for the area.

Dalcott was established in 2025 by Lachlan Cottee and Ben Dalgliesh, combining development and construction capability under an integrated model and focusing on architecturally considered residential projects.

Marrone will initially be offered through a pre-release registration campaign ahead of its broader public launch.

Dalcott targets owner-occupiers with South Brisbane debut Marrone

Parnell Developments is the latest to seek significant uplift through the NSW Government's Housing Delivery Authority on a Strathfield site previously approved for a much smaller apartment development.

Parnell has sought approval for a 32-storey mixed use tower across&nbsp;<a href="https://www.apartments.com.au/new-apartments/7-lyons-street-strathfield-nsw-2135">3-7 Lyons Street and 18 Parnell Street</a>, a&nbsp;1,857 sqm site around 400 metres from Strathfield Station. The building would yield 160 apartments, 15 per cent of which will be dedicated affordable as per the government mandate for buildings seeking additional uplift.

Approved previously was a nine-storey building back in 2022 with just over 30 apartments. That approval came prior to the project being&nbsp;progressively reconsidered as planning policy shifted toward greater density around transport hubs.

<img alt="Strathfield" data-entity-type="file" data-entity-uuid="c5af5281-a643-4eb2-b8c4-0081b59c04c7" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-25%20at%209.16.48%E2%80%AFAM.png?VersionId=37bd3mI7rHNpThOV_75VO8xsGFwWOi1u" />

Turner has designed the latest building that would replace&nbsp;existing detached homes across the four lots.

The apartment mix comprises 22 one-bedroom apartments, 107 two-bedroom and two-bedroom-plus configurations, and 31 apartments with three or more bedrooms. The scheme also includes 203 car spaces across six basement levels and 58 bicycle spaces.

The proposal has been designed around a three-storey podium addressing Lyons Street, with the tower rising above and stepping toward its upper levels.

Turner said the podium was deliberately scaled to respond to the existing street, while the taller element has been designed as part of the emerging skyline anticipated around Strathfield Town Centre and the wider Homebush transport-oriented development precinct.

The Lyons Street frontage would have a more active, pedestrian-focused character, incorporating the commercial tenancy, landscaping and a brick-framed podium with an awning.

<img alt="Strathfield" data-entity-type="file" data-entity-uuid="14b20874-b8c3-4ac7-bc03-92be9a69fb78" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-25%20at%209.17.48%E2%80%AFAM.png?VersionId=av.9TxtqIRTC6v3PkSuu1rL9rreWoe2h" />

Parnell Street, which faces the railway corridor, has been given a different architectural treatment, with double-height breeze blocks, landscaping and communal areas used to soften the interface with the rail infrastructure.

The tower itself uses curved and recessed facade elements, with wave-like indentations across the northern elevation breaking the building into three vertical forms.

A palette of grey concrete, brick and breeze blocks is complemented by clay and terracotta accents, while the upper tower adopts a lighter expression through articulated slab edges, vertical fins and recessed glazing.

Residents would have access to 467 sqm of communal open space spread across three levels. The ground floor would accommodate the more active resident areas, including barbecue and group gathering spaces and an internal communal room capable of being used for working from home.

A more passive viewing deck is proposed at level three, overlooking the ground-level landscaping and neighbouring tennis courts, while a rooftop "sunset deck" at level 30 would provide another social and relaxation space.

<img alt="Parnell" data-entity-type="file" data-entity-uuid="c3dce401-a80f-4682-8471-4caa01180880" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-25%20at%209.17.34%E2%80%AFAM.png?VersionId=Xyo8JVqbOhSJXNy6Ih.1cHL.O6i0bGR." />

&nbsp;

&nbsp;

&nbsp;

Strathfield has been earmarked for substantial change through the Strathfield Town Centre planning work and the nearby Homebush TOD precinct.

Turner's report says the project has been designed to act as a transition between the existing low and mid-rise development surrounding the site and the taller built form expected to emerge across the town centre.

The proposal is being assessed as State Significant Development under the HDA pathway, alongside the concurrent request to amend the Burwood Local Environmental Plan.

First look: New apartment tower pitched for Strathfield Town Centre precinct

An $18 million penthouse has hit the market in Main Beach as construction tops out on La Mer, the $155 million apartment development rising just metres from the beach.

Spanning around 600 sqm across the top two levels of the 29-storey tower on Main Beach Parade, the four-bedroom penthouse is one of the latest eight-figure residences to test the upper end of the Gold Coast apartment market.

Its launch comes amid continued activity at the very top of the market, following the $30 million off-the-plan sale of a Burleigh Heads penthouse earlier this year, which surpassed the Gold Coast's previous $24 million apartment record set in 2023.

The <a href="https://www.apartments.com.au/new-apartments/la-mer-main-beach-3580-main-beach-parade-main-beach-qld-4217">La Mer penthouse</a> has been designed as a private residence in the sky, with 360-degree views spanning the ocean, Broadwater, hinterland and Gold Coast skyline.

[smartcode_project:default project_id=95606 project_image_fid=378731]

All four bedrooms have ensuites, while the ocean-facing master retreat occupies around half of the upper level and includes its own lounge, private balcony, two walk-in wardrobes and an oversized ensuite with a freestanding stone bath positioned to take in the views.

The residence also features a kitchen designed to accommodate a private chef, a 3.6-metre island bench, expansive butler's pantry, wine cellar and integrated bar.

[smartcode_project:default project_id=95606 project_image_fid=378732]

A rooftop pool and substantial outdoor entertaining area with its own kitchen sit above the residence, while a grand staircase connects the two internal levels. The penthouse also has its own express lift.

OTP Group Director James Elliott, who is marketing La Mer, said the penthouse was expected to appeal to high-net-worth buyers seeking either a permanent Main Beach residence or Gold Coast holiday home.

“The La Mer penthouse represents exceptional value, considering its quality design, size, privacy and location, not to mention the 360-degree views capturing the beach and Gold Coast Broadwater,” Elliott said.

“We’re anticipating interest from high-net-worth individuals and couples seeking a residence or holiday home in the sought-after village enclave of Main Beach, taking advantage of the unprecedented growth underway in the area and neighbouring The Spit.”

[smartcode_project:default project_id=95606 project_image_fid=378736]

La Mer is being developed by developer-builder ODUS and Nazero, in partnership with funder Metrics Credit Partners.

ODUS Director Byron Sakha said topping out the tower had provided the opportunity to release the project's most significant residence.

“We’ve worked with internationally-recognised studio Sici Design on the penthouse interiors, with a focus on ensuring it isn’t luxury for luxury’s sake. Every element has been thoughtfully designed to enhance quality of life for those who call it home,” Sakha said.

“The views are the hero of virtually every space, but we’ve given equal attention to the fittings and finishes, so every detail exudes elegance and refinement.”

Sici Design Founder and Director Maria Papadopoulos said the extensive views became an integral part of the interior design rather than simply something the residence was designed around.

“The views weren't something we designed around, they became part of the design itself, with the true luxury of La Mer in its feeling of peace, calm and wellbeing,” Papadopoulos said.

“Luxury isn't defined by how something looks, but how it makes you feel, and we believe a luxurious home should be beautiful to live in, not stressful to maintain.”

The interiors combine Austral Dream Dolomite natural stone and travertine with timber flooring and a restrained coastal palette.

[smartcode_project:default project_id=95606 project_image_fid=378734]

Designed by Plus Studio, La Mer is one of the more boutique additions to the rapidly changing Main Beach apartment market.

The tower comprises just 24 full-floor, three-bedroom plus multipurpose room apartments below the two-level penthouse, giving the project a considerably lower density than many of the larger towers being developed across the Gold Coast.

Residents will have access to a pool and spa, gym, sauna, barbecue facilities, private sun lounges, yoga lawn and outdoor beach shower.

The penthouse has been released as part of the final collection of residences at La Mer, with remaining apartments priced from $4.3 million.

Construction is expected to complete later this year, with a fully furnished display apartment now open on level four.

[smartcode_project_cta:default project_id=95606]

ODUS releases $18 million penthouse crowning La Mer Main Beach

<a href="https://www.apartments.com.au/developers/far-east-consortium">Far East Consortium</a> is preparing to commence construction on <a href="https://www.apartments.com.au/new-apartments/640-bourke-street-melbourne-640-bourke-street-melbourne-vic-3000">640 Bourke Street</a> this October, marking the next milestone for the Melbourne CBD development and its higher-end Eliza Collection.

Spanning levels 44 to 68 of the 68-storey <a href="https://www.apartments.com.au/architects/rothelowman">Rothelowman</a>-designed tower, the Eliza Collection has been conceived as a lower-density offering within the broader development, with only five apartments on each floor, dedicated lift access and a collection of resident spaces reserved exclusively for Eliza Collection residents.

The Eliza Collection forms part of Far East Consortium's broader move toward larger-format residences at 640 Bourke Street, where the number of apartments was reduced from earlier plans as apartment sizes increased.

[smartcode_project:default project_id=509 project_image_fid=365685]

"What it's meant for 640 Bourke is we've actually reduced the number of apartments. We've increased the overall size of the apartments. We don't have any studios in here, and what that does for a project is it elevates it," Far East Consortium Director of Sales and Marketing Lauren Sheldon said.

Rothelowman Associate Jun Chang said the design process provided an opportunity to create more generous floorplans.

"We were given the opportunity to be more generous. The apartments became bigger and squarer than any other apartments which had been designed in the CBD before that."

[smartcode_project:default project_id=509 project_image_fid=368869]

That thinking carries through to the Eliza Collection, where the residences have been designed around the space and functionality associated with a larger home, but positioned high above the centre of Melbourne.

Kitchens are equipped with Gaggenau appliances, a butler's pantry, temperature-controlled wine cabinet and sculptural pendant lighting, while engineered timber flooring, stone and porcelain finishes and custom cabinetry feature throughout the broader interiors.

Privacy and security are another point of distinction. Eliza Collection residents have dedicated lift access, while 640 Bourke Street will provide concierge services and secure resident parking. Short-stay accommodation, including Airbnb, will not be permitted within the development.

[smartcode_project:default project_id=509 project_image_fid=365689]

Eliza Collection residents will also have exclusive access to selected amenity spaces across levels one and three of the restored Eliza Tinsley building. These include the Salon with grand piano, an art therapy room, private dining rooms and treatment rooms.

They sit within more than 3,000 sqm of amenity planned across 640 Bourke Street, alongside facilities including a pool, gym, whisky lounge and further social and wellness spaces.

The Eliza Tinsley building itself is central to the wider project's identity. Rather than treating the existing Eliza Tinsley façade as a separate element, Rothelowman used it as a starting point for the architecture of the new tower, with the historic building to accommodate the project's gallery and lobby.

"It's a significant asset and wants to be celebrated and experienced by all residents every single time they go in and out of the building," Rothelowman Principal Stuart Marsland said.

[smartcode_project:default project_id=509 project_image_fid=368872]

The tower will rise behind the retained heritage building at 640 Bourke Street, placing residents within walking distance of Southern Cross Station, Flagstaff Gardens, Queen Victoria Market and the Docklands waterfront.

With construction scheduled to begin in October, Far East Consortium has established an onsite display gallery at 640 Bourke Street, including fully built apartments that allow the project's layouts, materials and finishes to be inspected at full scale.

A fully built Eliza Collection apartment is also available to view at the display suite by appointment ahead of the planned October construction commencement.

Eligible purchasers who buy before construction commences can secure the full available off-the-plan stamp duty savings, subject to eligibility and applicable conditions.

[smartcode_project_cta:default project_id=509]

Far East Consortium brings Eliza Collection to 640 Bourke Street ahead of October construction start

Brisbane

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<div class="reported-auctions">
<div class="num">Queensland has a clearance rate of 39 percent from 66 total scheduled auctions for the week ending July 3, according to realestate.com.au.</div>
</div>
Realestate.com.au reported 4 properties sold prior to auction, 27 were passed in, 12 sold at auction and one sold after auction.
For more information, <a href="https://www.realestate.com.au" target="_blank">click here</a>.
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jonathanchancellor-7SQnKwU6yx

Queensland nets clearance rate of 39 percent: Realestate.com.au

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A comparison guide to the Sydney suburb of Botany and the Brisbane suburb of Milton has been released by iBuyNew comparing the average starting price of a one bedroom apartment.
The guide, below, also compares rental yield, annual growth and travel times into the CBD.
<a href="/images/2016/06/29/INFO_SYDVSBRIS_V02.jpg" target="_blank">Click to enlarge</a>
<img src="/images/2016/06/29/INFO_SYDVSBRIS_V02.jpg" alt="">
For more information, <a href="https://www.ibuynew.com.au" target="_blank">click here</a>.
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Comparison guide between Sydney's Botany and Brisbane's Milton

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Tim Gurner's newly proposed apartment development at 156-162 Alfred Street, Brisbane, will now be developed in the next property boom.
The Melbourne developer had just received approval for a $140 million apartment project in Brisbane's Fortitude Valley, but says he will now wait for the next cycle to develop. 
"There is no doubt that the Brisbane market has slowed in recent months," he told the Australian Financial Review.
"Developer funding challenges and increasing construction costs have made the environment increasingly difficult to get new projects off the ground in Brisbane, but we are committed to Fortitude Valley and excited to launch this project in the next market cycle," Mr Gurner said.
His proposed 15-level building on Alfred Street, designed by Elenberg Fraser, would have provided 184 apartments.
Mr Gurner said that his financing was secure but he had known of several other projects where financing had been knocked back. 
"It is the escalation of construction prices in Brisbane in the past 12-18 months that will pose more of an issue," Mr Gurner said.
"Projects that weren't fully pre-sold last year are now not viable given the recent spike in construction costs, which is incredibly shortsighted as this will only hurt builders and trades in the following 12-36 months when there won't be any new projects to commence construction," he said.
Construction on his $600 million FV project proceeds elsewhere in Fortitude Valley, at Brunswick Street, Alfred Street and Barry Parade, in what was Gurner's first foray interstate.
The project, also been designed by architects Elenberg Fraser, secured strong sales after its late 2014 launch.
Dubbed by the Melbourne Age newspaper as "gym owner turned blue-collar then white-collar property developer," Gurner is speculated to have sold a major development site in Footscray.
The 1 Warde Street site covers 2170 sq m with a permit for towers rising 26 levels and containing 388 dwellings atop a commercial component.
Set within the state government's Joseph Road urban renewal precinct, The Age advised the recent sale price has not yet been disclosed by CBRE's Mark Wizel.
More than $10 million had been sought.
Tim Gurner was among a group of young property developers who burst onto the recent BRW Rich 200 list this year.
He was the list's youngest debutant, aged only 34 and with an estimated $460 million fortune. 
Gurner is concentrating mainly on Melbourne but has in the past month settled on two sites in Sydney. 
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jchancellor-FAypfDUnLy

Tim Gurner calls halt to new Fortitude Valley, Brisbane project

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A comparison guide to the Brisbane suburbs of Lutwych and Annerley, two middle ring suburbs, has been released by iBuyNew comparing the average starting price of a one bedroom apartment.
The guide, below, also compares rental yield, annual growth and travel times into the CBD.
<a href="/images/2016/05/27/INFOGRAPHIC_LUTvsANN2.jpg" target="_blank">Click to enlarge</a>
<img src="/images/2016/05/27/INFOGRAPHIC_LUTvsANN2.jpg" alt="">
For more information, <a href="https://www.ibuynew.com.au" target="_blank">click here.</a>
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Brisbane suburb Annerley tops Lutwych for rental yield

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Brisbane rates will increase by 4.7 percent next financial year, to help fund the Brisbane Metro $1.54 billion rapid transit subway system.
The rate increase is close to double last year's 2.5 percent rise for property owners.
Ratepayers currently paying the $535 annual minimum rate are taking the biggest hit, with the minimum base rate for owner-occupiers going up $100 per year.
The minimum base rate for non-owner occupied properties will increase by $150.
Apartment owners will face the highest increase.
Residents in Hawthorne will see the largest annual jump in their rates, seeing an average annual increase of $183.12, followed by Chelmer ($181.56), Ascot ($179.14) and Hamilton ($155.44).
Cowan Cowan residents on Moreton Island will have their rates drop by $163.50 on average.
Three other suburbs secured a reduction in rates this year with owner-occupiers due to pay on average $129.35 less in Bulwer, $88.15 less in Kooringal and $5.35 less in Boondall.
Chandler residents have an average bill of $2,879.84, followed by $2644.52 in Ascot, $2640.72 in Chelmer, $2,637.56 in Hawthorne.
Rocklea owner occupiers will spend the least on average on rates paying $1006.88.
Lord Mayor Cr Graham Quirk defended the rise of the minimum annual rates, from $535.88 to $635.88 on Wednesday.
"Brisbane is experiencing significant growth in unit development," he said.
"However, what many people don't realise is that many of these units only pay the minimum rate.
"…This places an unfair burden on existing ratepayers who are required to make up the shortfall in funding for infrastructure and services."
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Brisbane property rates to rise

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Record low interest rates and rising demand from investors could further compress yields in Brisbane’s industrial market, according to an analysis by commercial real estate firm CBRE.
The firm’s 2016 Q1 Industrial MarketView highlights improving conditions in Brisbane’s industrial market, with the decline in business investment tapering off and production levels forecast at 5.7 percent in 2016. 
Brisbane’s industrial sector continued to witness strong levels of transaction activity,  said Ed Bull, CBRE’s senior director, Queensland Industrial &amp; Logistics.
“The sheer weight of capital looking to enter the market, coupled with the favourable interest rate environment, will fuel demand for core assets backed by secure, national covenants,” Bull said. 
“In light of this, we’re likely to see some yield compression for the right type of assets.” 
Residential construction remains a strong driver of Brisbane’s industrial market, with dwelling approvals over the past 12 months growing by 15.6 percent, while container trade out of the Port of Brisbane also increasing 3.5 percent in 2015. 
In the first three months of 2016, yields for super prime industrial assets in Brisbane remained around 6.50 percent, while prime yields still sit at 7.43 percent and secondary yields at 8.73 percent, said the report.
The rental rates for Brisbane industrial property remained steady over the quarter, with super prime at $116 per square metre, prime at $114 per square metre and secondary at $93 per square metre.
CBRE senior research manager Kate Bailey said the supply pipeline would support continued value growth in the market. 
“Following two years of significant new industrial supply, the pipeline for 2016 is considerably lower – reducing the risk of oversupply and supporting rental growth in the medium term,” Bailey said.
In Melbourne and Brisbane, a respective decrease in supply of 55 percent and 11 percent is forecast, while in the undersupplied Sydney market, 765,000 sqm is due for completion in 2016.
“This reduction in total supply entering the market is expected to encourage rent growth as demand begins to be supported by an improved industrial economy,” Bailey added. 
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Low interest rates, investor demand compressing yields in Brisbane's industrial market: CBRE 

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Raine &amp; Horne Commercial is predicting strong self-managed super fund (SMSF) demand will drive industrial and retail sales markets in Brisbane.
Principal Trent Bruce said that the demand from SMSFs are ten-fold stronger than supply.
“There’s a lack of quality secure industrial and retail property investment opportunities," he said.
“Such is the level of demand, we’ve been taking securely leased investments priced between $2m-$5m to market, and they’re attracting 70-100 enquiries during the course of the sales campaign. 
“Depending on the tenant, they’re selling for yields of between 5.5% and 7.5%.”
To illustrate the strength of the industrial market in Brisbane, Raine &amp; Horne Commercial Brisbane North sold a high quality industrial office/warehouse facility totalling 1,551sqm on a 2,030sqm allotment at 134 Delta Street, Geebung for a yield of 6.97%. 
“Historically this facility would have realised a yield closer to 8%, and the tighter yield has resulted from a sale price approximately $200,000 higher than the owner expected,” said Mr Bruce. 
“Many clients have taken advantage of the “perfect storm” conditions of historically low interest rates and a lack of available options in the retail and industrial sectors already this year, with many sales completed at record levels.”
While the strong industrial and retail sales are here to stay for the foreseeable future, the office sales market will remain in a state of oversupply. 
“Therefore we’re predicting the office sales market will be the toughest of Brisbane’s commercial sectors in the second half of the year,” said Mr Bruce.
“That said, the office leasing market is stable thanks to owner incentives, with many savvy landlords keenly negotiating with existing tenants to avoid vacancy.”
Across town, Joseph Grasso, Co-Principal of Raine &amp; Horne Commercial Brisbane Southside, said the incentive rates for office space are running at a very rigorous 40% in some cases.
“There’s been an oversupply of office space ever since the state government decided to consolidate a number of departments a few years back, while the slowing mining sector continues to be a factor,” said Mr Grasso. 
Opportunities for small business growth
A surfeit of office space, however, creates opportunities for tenants or home-based businesses to upgrade into their own office space, according to Mr Grasso. 
“Historically low interest rates are making it cheaper to buy commercial office space than to lease it, and now is a great time for smaller businesses to take the plunge,” he said.
On the industrial commercial property front, Mr Grasso said business is booming in southern Brisbane, with Raine &amp; Horne Commercial Brisbane Southside completing 32 transactions in May. 
“This includes small to medium industrial leasing, while prime industrial investment opportunities are still sought after,” said Mr Grasso.
“That said, there’s still some caution in the air as a consequence of the long election campaign.
“Nevertheless, investors are chasing industrial assets that tick all the boxes. However, if they have a few hairs or whiskers on them, they won’t move as fast, especially if an owner’s expectations aren’t realistic.”
 
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j.ballantyne1990-6AQqhLzZaK

Raine & Horne see strong Brisbane industrial investment from SMSF

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A registrations of interest campaign has been launched to sell one, two or three bedroom apartments, or one of six premium penthouses and sub penthouses in the waterfront Gallery House development in Brisbane's Hamilton.
Apartments in the $144 million 20 level Gallery House development from Brookfield Residential Properties feature full height windows and quality finishes, with many also featuring two car spaces, with building including a rooftop sanctuary with an infinity pool, outdoor lounge and BBQ area.
Brookfield Residential Properties' General Manager Lee Butterworth said the have worked closely with renowned architect, Cottee Parker, to design a building that connects with the river and emanates a sense of tranquillity and warmth.
"Gallery House will set a new standard in apartment living in Hamilton and become the most luxurious property in Brookfield's Queensland portfolio," he said.
"With three 'collections' offering varying levels of luxury, Gallery House boasts above average sized apartments with balconies of up to 220sqm, with many apartments featuring two undercover car spaces.
"Our 'Sky Collection' refers to apartments on the top five levels of Gallery House, all of which have a minimum of three bedrooms, and many with multipurpose room.
"Apartments in this collection feature luxury extras like premium ensuites with double vanity and free standing bath, while the penthouses and sub-penthouses boast huge open plan design, quality high end finishes and spacious outdoor living to maximise the stunning views.
"The 'River Collection' apartments occupy 12 levels, and feature either two or three bedrooms, two secure car spaces, spacious design and expansive views.
"The 'City Collection' is made up of one and two bedroom apartments, each with quality finishes, open plan living and generous balconies." 
One bedroom apartments in Gallery House are priced from $362,000; two bedroom apartments from $575,000; and three bedroom apartments from $1.28 million.
 For more information, <a href="https://lifeontheriver.com.au/?gclid=CPTo-eORl80CFYGavAod9v8NKw" target="_blank">click here</a>.
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Brookfield launch Gallery House, new Brisbane riverfront development

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Brisbane residential property developers ARIA have been given approval for a new 82-storey residential tower.
Designed by architects Rothelowman, the tower at 171 Edward Street is set to rank among Brisbane's tallest buildings.
The new proposed CBD tower will feature a mix of one- and two-bedroom dwellings across a total 652 apartments. 
The curved, gold facade of the tower will draw heavily on the form of Constantin Brancusi's Bird in Space – a series of 16 sculptures created between 1923 to 1940 that communicate the notion of flight.
171 Edward Street will be opened up to the neighbourhood through a four-storey podium featuring more than 2100 square metres of retail and commercial space, Fairfax Media reported. 
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Brisbane highrise to be 82 storeys

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Kern Group have leased a 580sqm office space on level 23 at 300 Queen Street in Brisbane's CBD ahead of their relocation from 215 Adelaide Street.
They are paying $685sqm and have signed on for a total of five years, plus incentives.
JLL director of office leasing in Queensland, James Montague said the fringe-to-city trend was growing.  
“The Kern Group successfully used the sublease market as an opportunity to re-enter the Brisbane CBD market with the long term strategy to establish a permanent headquarters in an A-Grade building in the heart of Brisbane," he said.
“Over the past twelve months we have seen a growing number of near-city based companies move back into the Brisbane CBD, taking advantage of the current market climate."
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