Malaysian developer <a href="https://www.apartments.com.au/developers/s-p-setia">SP Setia</a> is the latest to jump into St Leonards booming Transport Oriented Development precinct.

The developer, which has previously delivered Sapphire by the Gardens apartment development in Melbourne, identified the Atchison Street site in 2023. It filed a Scoping Report around 12 months ago, and now has revealed the designs for the new&nbsp;40-storey mixed-use tower.

The State Significant Development Application covers <a href="https://next-portal.urban.com.au/projects/14650/summary">20-22 Atchison Street</a>, a 1,374 sqm site positioned between St Leonards Station and the new Crows Nest Metro station.

Designed by <a href="https://www.apartments.com.au/architects/cox-architecture">COX Architecture</a>, the project would deliver 181 apartments, above a four-storey commercial podium, five basement levels, and new public domain works along Mitchell Street. The apartment mix comprises 35 one-bedroom apartments, 39 one-bedroom-plus-study apartments, 85 two-bedroom apartments, and 22 three-bedroom residences.

The proposal has been lodged as a shop-top housing development under the NSW Government’s TOD planning pathway, which allows increased density around key transport infrastructure. The site sits within the recently rezoned Crows Nest Accelerated TOD Precinct.

<img alt="First look: SP Setia targets St Leonards skyline with 40-storey TOD tower" data-entity-type="file" data-entity-uuid="b799673d-48e2-46b0-801a-0e33a9330100" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/atchinson%20site.png?VersionId=dPh0UfwfaHpbFL1R7H1cbZNbIW0CHbCC" />

SP Setia acquired the Atchison Street site as part of its continued expansion into the Australian apartment market. In comments made to City &amp; Country (The Edge Malaysia) in 2023, SP Setia President and CEO Datuk Choong Kai Wai described the acquisition as “a strategic move” aligned with the group’s post-pandemic market recovery strategy.

“Our target for this exceptional development is local and overseas buyers, including first-home buyers, downsizers and investors,” Choong said.

The tower has been designed as a slender vertical form rising from a mixed-use podium, with COX Architecture positioning the development as a response to the evolving St Leonards and Crows Nest skyline.

“The purpose of the project is to facilitate the delivery of high-quality housing at a strategically located site and deliver a built tower outcome that is consistent with the desired future character of St Leonards and aligns with the TOD controls,” the design report stated.

<img alt="First look: SP Setia targets St Leonards skyline with 40-storey TOD tower" data-entity-type="file" data-entity-uuid="b1a85eee-76f7-436c-a6da-73ba827b9b13" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/atchinson%20entry.png?VersionId=dA9jHGPMcm.dDbwk4QfxqWiY5bfh3UVt" />

The podium would incorporate retail uses fronting Atchison Street, commercial tenancies, landscaped communal areas, and pedestrian improvements along Mitchell Street. Vehicle access and loading would be consolidated via Atchison Lane.

Residents would have access to more than 665 sqm of communal indoor and outdoor spaces, while the development proposes 96 parking spaces across five basement levels.

The proposal also includes a commitment for 10 per cent of residential floor space to be allocated toward affordable housing through a monetary contribution.

COX said the tower form responds directly to the emerging high-density character of the precinct while seeking to maximise solar access, cross ventilation, and outlook from apartments.

<img alt="First look: SP Setia targets St Leonards skyline with 40-storey TOD tower" data-entity-type="file" data-entity-uuid="2163f85c-f63b-4be3-aafa-f8763976cec5" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Article%20Feature%20Image%20%28Grid%29_5.png?VersionId=WiAmtIKJ6.ZQ41EtYEQ1fol7AeorKBlL" />

“The building is orientated towards north,” the Apartment Design Guide compliance report noted, adding that the tower’s slim form was driven by the constrained inner-urban site dimensions.

The design also incorporates landscaped setbacks and communal open space at podium level, intended to soften the interface with surrounding streets and improve pedestrian amenity.

The project adds to a growing wave of redevelopment proposals reshaping St Leonards and Crows Nest following the opening of the Sydney Metro City line and the NSW Government’s push for higher-density housing around major transport nodes.

Last week Stockland filed plans just down the road. They want to build a <a href="https://www.apartments.com.au/new-apartments/601-pacific-highway-st-leonards-nsw-2065">52-storey tower on Pacific Highway</a>.

Read more:&nbsp;<a href="https://www.apartments.com.au/news/nsw/first-look-stockland-plans-52-storey-538-apartment-st-leonards-tower">First look: Stockland plans 52-storey, 538-apartment St Leonards tower&nbsp;</a>

Joel Robinson

First look: SP Setia targets St Leonards skyline with 40-storey TOD tower

<a href="https://www.apartments.com.au/developers/urban-property-group">Urban Property Group</a> has revealed plans for a new mixed-use tower at 10 Dangar Street, Wickham, advancing a proposal that would reshape the southern gateway to Newcastle’s city centre with one of the city’s tallest residential buildings.

The State Significant Development proposal, now on exhibition, seeks approval for a <a href="https://www.apartments.com.au/new-apartments/bowline-10-dangar-street-wickham-nsw-2293">43-storey tower</a> immediately adjacent to the Newcastle Interchange. The project would deliver around 200 apartments, including 42 affordable housing dwellings, alongside 99 co-living units, a 171-room hotel, retail space, and new public domain integrated through the site.

The scheme marks a significant escalation of plans previously approved for the site. Urban Property Group took over the prominent 2,904 sqm parcel, where excavation and demolition had already commenced under an earlier consent for a 14-storey mixed-use development.

<img alt="First look: Urban Property Group unveils Newcastle’s next supertower at Wickham interchange" data-entity-type="file" data-entity-uuid="58a96dd9-407f-4d20-86b4-94e4bfeef74b" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/wickham%20podium.png?VersionId=LGlf08pdFGAZDzvx_CXC4XakHNZRuEE0" />

Designed by <a href="https://www.apartments.com.au/architects/sjb-architects">SJB</a>, the tower has been conceived as a landmark transit-oriented development anchored to the Newcastle Interchange precinct. The proposal includes 245 build-to-sell apartments across a mix of one, two, and three-bedroom residences, as well as two penthouses. Fifteen apartments and one operational unit are earmarked for NDIS housing. The co-living component would add a further 99 units, while the podium would accommodate retail uses and hotel facilities.

SJB said the site presents “a valuable opportunity to anchor the precinct by setting the standard for design, active ground planes and character at the key southern gateway.”

The architecture responds directly to the site’s position beside major transport infrastructure and within one of Newcastle’s fastest-evolving urban renewal precincts. The tower form sits above a sculpted podium designed to frame new public spaces, including a through-site pedestrian link connecting Station Street to Hannell Street, landscaped plazas, and activated retail edges.

<img alt="First look: Urban Property Group unveils Newcastle’s next supertower at Wickham interchange" data-entity-type="file" data-entity-uuid="a7bd6ff0-f7db-4ce8-a6dc-ea56e72c6149" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/wickham%20lanne.png?VersionId=xzf39VADyhj7zBQY2I9fx9vI62u2tuSb" />

The design report describes the project as part of the broader transition of Wickham into “a vibrant, high-quality mixed-use urban precinct” that leverages proximity to the station, open space, and regional connectivity.

A detailed public art strategy has also been prepared for the development. The strategy positions the project as “a transit-oriented development of state significance at the gateway to Newcastle’s city centre” and outlines a series of integrated artworks responding to Newcastle’s industrial and transport heritage.

Creative Road’s curatorial framework for the project, titled Unveil, draws on “stratified surfaces, carved volumes, and light-filled apertures” while referencing Newcastle’s transformation from an industrial city into a contemporary education and technology hub.

<img alt="First look: Urban Property Group unveils Newcastle’s next supertower at Wickham interchange" data-entity-type="file" data-entity-uuid="77a882bb-14b1-4d28-99ff-9438e39508c0" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/wickham%20site.png?VersionId=cevgo_vN0eKPK78P8YcEu3mKPLkpFqE7" />

The proposal is being advanced through the NSW Housing Delivery Authority pathway after being declared State Significant Development in June 2025. The accompanying scoping report states the development aims to “maximise the site’s proximity to the Newcastle Interchange by delivering transit-oriented development” while increasing housing supply and affordable housing provision within the Newcastle LGA.

Urban Property Group’s plans align with the long-term strategic vision established under the Wickham Master Plan, which identified the interchange precinct as suitable for substantial uplift in height and density. The current proposal would significantly intensify that vision, positioning the tower among the tallest developments proposed for Newcastle.

The site sits immediately north of the Newcastle Interchange, bounded by Dangar Street, Hannell Street, and Charles Street. It is surrounded by a rapidly growing cluster of residential towers and mixed-use projects that have emerged following the completion of the light rail and transport interchange.

First look: Urban Property Group unveils Newcastle’s latest tower at Wickham interchange

Bottega House has completed settlement of a landmark riverfront site in Macquarie Street, St Lucia, representing its first major Brisbane development.&nbsp;

Positioned on the banks of the Brisbane River, the <a href="https://www.apartments.com.au/new-apartments/180-macquarie-street-st-lucia-qld-4067">premium site at 180 Macquarie Street</a> features uninterrupted river frontage in one of Brisbane’s most tightly held residential precincts.&nbsp;

The proposed development, currently under assessment with Brisbane City Council, has been designed by <a href="https://www.apartments.com.au/architects/plus-studio">Plus Studio</a> with interiors by <a href="https://www.apartments.com.au/interior-designers/mim-design">Mim Design</a> and will deliver a boutique collection of premium residences positioned specifically for owner occupiers and downsizers.&nbsp;

The residences are set to redefine luxury apartment living in the area, with a focus on architectural quality, refined finishes, landscape integration and elevated amenities including curated wellness facilities, resort-style pools and recreation spaces rarely seen in the local market.&nbsp;

Exclusive sales for the project will be led by Keenan &amp; Byrne, ahead of an anticipated launch later this year.&nbsp;

Bottega House Managing Director Nick Malloch said the project reflects the group’s ambition to deliver a highly curated residential offering within one of Brisbane’s most tightly held precincts.&nbsp;

“This is an incredibly rare riverfront opportunity and one we have approached with a long-term perspective,” Malloch said.&nbsp;

“Our vision from the outset was to create a boutique collection of residences that feel more like private homes than traditional apartments, with generous proportions, refined finishes and exceptional amenity throughout."

Malloch says there is a&nbsp;lack of premium owner-occupier stock of this quality in the market, particularly for downsizers wanting space, privacy and a true lifestyle offering without compromise.&nbsp;

"Demand is expected to be strong given the scarcity of premium riverfront opportunities of this nature within Brisbane’s inner-west."&nbsp;

Bottega House secures landmark riverfront site in St Lucia 

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The arrival of the first piling rig officially marks the commencement of construction at SIERA’s new beachside apartment development, Exhale, in Northcliffe.

<a href="https://www.apartments.com.au/new-apartments/exhale-surfers-paradise-8-enderley-avenue-surfers-paradise-qld-4217">Exhale</a>, a glass-encased tower featuring 54 large-scale apartments at 8 Enderley Avenue, is SIERA’s third Gold Coast development. It follows the recently completed PIPIS Bilinga beachfront project, which achieved suburb-record prices, and the soon-to-be-completed Chevron Island development, Tapestry.

[smartcode_project:default project_id=112661 project_image_fid=359603]

<a href="https://www.apartments.com.au/developers/siera">SIERA</a> Founder and Managing Director Brent Thompson said the arrival of the piling rig represented a significant milestone for the development, which is scheduled for completion in late 2028.

Over the next month, around 260 piles are expected to be installed as work progresses on the basement structure. The building is anticipated to rise above ground level early next year, before unveiling its sculptural glass curtain wall, developed in collaboration with specialist façade engineers.

“The façade was designed to maximise panoramic coastal views while creating a distinctive architectural identity,” Thompson said.

[smartcode_project:default project_id=112661 project_image_fid=355935]

Designed by BDA Architecture, Exhale will comprise just 54 two- and three-bedroom residences across 26 levels, a level of low-density living rarely delivered in this beachside pocket between Surfers Paradise and Broadbeach.

The project has been conceived as a resident-only building, with no short-stay accommodation permitted. SIERA says the model is intended to appeal to long-term owner-occupiers rather than transient holiday demand.

[smartcode_project:default project_id=112661 project_image_fid=361052]

Residences have been designed with large-format layouts and expansive glazing, with most apartments featuring more than 30 metres of glass frontage to maximise natural light and ocean views.

The amenity offering spans two levels and centres on wellness and lifestyle, including a heated magnesium pool, sauna, yoga and Pilates studio, gymnasium, private dining facilities, cinema lounge, and dedicated surfcraft storage.

[smartcode_project:default project_id=112661 project_image_fid=359607]

More than half of the apartments have already sold. SIERA has also opened a sales gallery for Exhale at its Chevron Island commercial premises, near its Tapestry tower and the site of its second Chevron Island apartment development, which is slated to launch in early 2027.
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[smartcode_project_cta:default project_id=112661]

SIERA kicks off construction at Northcliffe tower Exhale

Local Little Bay residents, along with buyers from premium postcodes across Sydney’s affluent Eastern Suburbs, have dominated purchases in developer-builder Urban Property Group’s first Eastern Suburbs apartment development, <a href="https://www.apartments.com.au/new-apartments/este-little-bay-jennifer-street-little-bay-nsw-2036">ESTE Little Bay</a>.

The $250 million coastal project, one of the first new developments in the area in several years, has proven particularly popular with downsizers, especially those from Coogee and Bondi. One Double Bay downsizer paid $4.7 million for a four-bedroom penthouse, setting a new local apartment price record in the process.

Buyers have been attracted to the combination of coastal tranquillity, premium design and amenity-rich neighbourhood living. The walkable village setting, along with proximity to three of Sydney’s leading golf courses, New South Wales Golf Club, St Michael’s Golf Club and The Coast Golf Club, has also been a key drawcard.

[smartcode_project:default project_id=112343 project_image_fid=352689]

Built across two low-rise buildings designed by <a href="https://www.apartments.com.au/architects/hill-thalis-architecture-urban-projects-pty-ltd">Hill Thalis</a> and set along a lush, landscaped green spine, designed by leading landscape architect <a href="https://www.apartments.com.au/landscape-architect/arcadia-landscape-architecture">Arcadia</a>, ESTE Little Bay offers a collection of one, two, three and four-bedroom residences with interiors by Richards Stanisich.

<a href="https://www.apartments.com.au/developers/urban-property-group">Urban Property Group</a> Sales Director, Tom McIvor said the response to ESTE has been "nothing short of extraordinary."

“Buyers have been quick to recognise ESTE as a rare opportunity to invest in a coastal sanctuary that offers both seclusion and connectivity to the heart of Sydney,” McIvor said.

[smartcode_project:default project_id=112343 project_image_fid=352687]

<a href="https://www.apartments.com.au/project-marketer/srm-residential">SRM Residential</a> Senior Director, <a href="https://www.apartments.com.au/project-marketer/srm-residential">Clayton Ross</a> said the local market has responded incredibly well, driven by ESTE’s exceptional location and the rarity it offers.

“We’ve seen strong interest from a variety of buyer groups, all of whom are drawn to the exclusivity and quality of the build and construction by the 4.5-star iCIRT-rated builder / developer, Urban Property Group. There’s truly nothing else like it along Sydney’s coastline.”

[smartcode_project:default project_id=112343 project_image_fid=352690]

The project also includes robust buyer protections, including Resilience Insurance’s Latent Defects Insurance, providing 10 years of structural cover, and an independent iCIRT-rating of the developer.

“The iCIRT-rating adds another layer of confidence,” Ross added. “Buyers see it as a safeguard for their investment and their lifestyle.” A highlight of ESTE’s offering is its exclusive wellness amenities, including a heated rooftop infinity pool and outdoor heated spa, a state-of-the-art Technogym fitness centre, and a sauna.

<a href="https://www.apartments.com.au/new-apartments/este-little-bay-jennifer-street-little-bay-nsw-2036">ESTE Little Bay</a> is topped out and is on track to complete towards the end of 2026, with residents moving in before Christmas.

[smartcode_project_cta:default project_id=112343]

Eastern Suburbs buyers snap up ESTE Little Bay apartments

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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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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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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