<a href="https://www.apartments.com.au/developers/consolidated-properties">Consolidated Properties Group</a> (CPG) is approaching the launch of its latest Brisbane riverfront development, Castile, on the dress circle Skyring Terrace in Newstead.

VIP buyers are now being engaged, with a full public sales launch coming later this year.

Positioned as the final opportunity to secure a new absolute riverfront residence on the East bank of Newstead, Teneriffe or New Farm, Castile at 47 Skyring Terrace has been designed by <a href="https://www.apartments.com.au/architects/woods-bagot">Woods Bagot</a> as a timeless addition to the Brisbane skyline.&nbsp;

[smartcode_project:default project_id=150489 project_image_fid=371113]

The name Castile draws on themes of permanence, sophistication and legacy, reflecting a broader vision centred on enduring architecture and timelessness in the rarest of riverfront positions.&nbsp;

CPG Chairman and CEO Don O’Rorke said the project had been envisioned as a future Brisbane icon.&nbsp;

“With 47 metres of direct river frontage and never to be built out views, 47 Skyring Terrace is the definitive address on the Brisbane River,” O’Rorke said.&nbsp;

[smartcode_project:default project_id=150489 project_image_fid=371114]

“Rather than following trend-based apartment design, Castile draws inspiration from Brisbane’s great heritage buildings, reinterpreting classical architecture into a contemporary riverfront landmark designed to stand proudly for the next 100 years,” he said.&nbsp;

The approved development will comprise 227 apartments across a 25-storey tower alongside a boutique six-storey riverfront building of just 12 residences.&nbsp;

Construction is scheduled to commence in September 2026.

[smartcode_project_cta:default project_id=150489]

Joel Robinson

CPG unveils Castile Newstead ahead of upcoming sales launch

Australia’s online shopping habits have shifted dramatically over the last decade. As eCommerce volumes surged, so too did the frustrations that came with traditional parcel delivery: missed deliveries, long Post Office queues, parcel theft and the challenge of being home during business hours.

Australia Post’s Parcel Lockers emerged as one of the more practical responses to that changing consumer behaviour.

What started as a relatively niche delivery option has evolved into a nationwide network of more than 1,400 self-service Parcel Lockers positioned at train stations, shopping centres, supermarkets and Post Offices across the country. The system allows Australians to send, collect and return parcels 24 hours a day, fundamentally changing how many people interact with deliveries.

The appeal is relatively straightforward: flexibility.

Instead of waiting at home for a delivery driver or rushing to a Post Office before closing time, users can direct eligible parcels to a Parcel Locker location of their choice. Once the parcel arrives, Australia Post sends a notification with a collection code or QR access through the AusPost app, allowing customers to retrieve their package at any time within the collection window.

For apartment residents in particular, the system has become increasingly valuable.

Higher-density living has created logistical challenges around deliveries, especially in buildings without concierge services or secure parcel rooms. Missed deliveries are common, while parcel theft has become an increasing concern as online shopping volumes continue to rise.

Australia Post itself has repeatedly highlighted the growing issue of “porch pirates” during peak shopping periods, encouraging customers to use Parcel Lockers as a safer alternative to unattended home deliveries.

That security aspect is one of the key reasons the Australia Post Parcel Locker network has grown so rapidly.

Parcel Lockers are positioned as secure, monitored collection points that reduce the risk of theft while also improving delivery efficiency for Australia Post. Instead of multiple redelivery attempts, parcels can be consolidated into a single secure destination.

The Parcel Lockers themselves are free to use through a MyPost account and support a range of parcel sizes up to 16 kilograms and dimensions of approximately 35 x 44 x 61 centimetres.

Beyond receiving parcels, the system has increasingly become integrated into the broader eCommerce ecosystem.

Customers can now use Parcel Lockers to return online purchases, while retailers have embraced the model as a way to improve delivery success rates and reduce friction in the shopping process. Australia Post has actively expanded partnerships with major retailers and promoted Parcel Lockers as part of a broader out-of-home strategy.

The timing of that expansion aligns with broader changes in Australian shopping behaviour.

The acceleration of online retail during and after the pandemic placed enormous pressure on delivery infrastructure. Parcel volumes reached record highs, particularly during Black Friday and Christmas periods, with Australia Post delivering more than 100 million parcels during peak festive seasons.

That growth forced logistics providers to rethink the “last mile” of delivery, widely regarded as the most expensive and operationally difficult stage of the process.

Parcel Locker systems have increasingly been viewed as part of the long-term solution.

The concept itself is not unique to Australia. Parcel Locker networks have become common globally, particularly across Europe and Asia, where dense urban environments and apartment living create similar logistical challenges. But Australia’s geography and suburban sprawl made adoption slower initially.

Now, however, the convenience factor is driving mainstream usage.

For commuters, Parcel Lockers near train stations allow parcels to be collected on the way home from work. For apartment dwellers, they remove the uncertainty around access and missed deliveries.

The rise of the AusPost app has also streamlined the experience, centralising notifications, tracking and Parcel Locker access into a single platform. Australia Post has increasingly pushed customers toward app-based delivery management, partly as a way to combat phishing scams and fake delivery notifications, which have become more sophisticated in recent years.

The Parcel Locker model is also beginning to influence property development itself.

Parcel management has become a growing consideration in apartment building design, particularly as online shopping becomes embedded in everyday life. Many new residential developments are now incorporating dedicated parcel rooms or Parcel Locker systems into foyers and communal spaces.

For developers, parcel management is increasingly viewed as part of the broader resident amenity offering, alongside gyms, wellness spaces and communal work areas.

That reflects a wider evolution in how residential buildings are designed.

Apartment buyers are placing greater emphasis on convenience, security and operational functionality, particularly in higher-density urban environments. Parcel delivery, once considered a minor operational detail, has become an increasingly important part of that equation.

Australia Post’s Parcel Locker network sits at the centre of that behavioural shift.

What began as a simple alternative delivery option has evolved into a key piece of infrastructure supporting Australia’s growing eCommerce economy and changing urban lifestyles.

And as online shopping continues to expand, the role of Parcel Lockers is likely to become even more embedded in how Australians live, shop and receive goods.

How Australia Post Parcel Lockers changed parcel delivery convenience in Australia

Perth’s new apartment market recorded its strongest quarter of sales since Q4 2021, with 412 apartments sold in Q1 2026 and a record quarterly sold value of $537 million, according to Urbis’ latest Apartment Essentials results.

Urbis said the March quarter result reflects strong, highly product‑specific demand across both ends of the market, from more attainable projects delivering at scale, through to premium stock being absorbed by equity‑rich downsizers.&nbsp;

David Cresp, Partner at Urbis, said the key story in Perth is not demand, it is the market’s ability to convert demand into delivered housing.&nbsp;

“This is the strongest sales quarter since Q4 2021, and it reinforces that demand in Perth is real and it’s local,” David Cresp said. “But the task now is delivery, turning that demand into projects that can actually be built and completed.”&nbsp;

[smartcode_project:default project_id=110291 project_image_fid=302785]

<h2>Affordable product leads, premium demand remains resilient</h2>

Sales in Q1 were led by more affordable projects, with The Boulevard (SKS Group) recording 115 sales in the quarter, the presentation noting this is only the second time a single project has surpassed 100 quarterly sales. The project was able to offer more affordable housing product right next to a train station.&nbsp;

Palmyra West (Finbar) also delivered strong results with 28 sales in Q1, following 84 sales in Q4, with an average price of under $800,000, underscoring depth of demand for well‑located, attainable new stock.&nbsp;

At the premium end, Urbis said downsizer demand is continuing, with the results highlighting Romeo (Applecross, Finbar) recording 75 sales and reaching almost 50% sold in one quarter.

Jual (Shenton Park, Celsius Property) also posted a strong quarter with 28 sales, reaching 39% sold in one quarter.

Urbis noted that Perth apartment demand is not speculative, not investor‑led, and not uniform, describing it as localised, often equity‑driven and highly product‑specific, a pattern reflected in the polarisation between strong “attainable” performers and premium downsizer product.&nbsp;

[smartcode_project:default project_id=148957 project_image_fid=364102]

<h2>Prices underpinned by costs, and the delivery risk is growing</h2>

Urbis said pricing pressure is cost not demand‑driven: construction costs and delivery risk are now a central constraint, with the results noting build costs remain elevated and volatile, and that energy, fuel and labour uncertainty weigh on feasibility.

David Cresp said a growing challenge for private Build‑to‑Sell developers is simply securing a builder in the current environment.

“Developers are really feeling the pressure from a building market that was operating at capacity and securing a builder is challenging,” David Cresp said, adding that even where a builder can be secured, “trying to get to the price that makes the development financially viable is incredibly challenging in the current market.”&nbsp;

Urbis’ broader WA commentary also notes that industry remains at or above capacity with lot and housing creation, and that many builders are limiting new sales to manage stretched workforces and fixed‑price contract pressures, conditions that flow directly into apartment feasibility and delivery timing.

[smartcode_project:default project_id=108869 project_image_fid=317905]

<h2>Supply: improving later, but still constrained, and Perth lags eastern benchmarks</h2>

While near‑term supply remains constrained, Urbis’ forecast shows completions lifting “Supply is forecast to be back above 1,500 apartments per annum for the first time since 2019”, with 1,775 completions forecast for 2026, and volumes remaining above that level over the following years.&nbsp;

Looking further ahead, completions are forecast to reach 2,500 in 2028, with the report noting 32% of that total is social/affordable, reflecting the role of government‑supported delivery in rebuilding the pipeline.&nbsp;

However, Urbis said Perth remains behind comparable markets on pipeline scale. In a national comparison of projects under construction, the report shows under construction Perth Build‑to‑Sell (BTS) at 3,446 apartments versus the Gold Coast at 7,922. Mr Cresp said “The challenge for Perth is how to we grow the delivery pipeline”.

Urbis’ conclusion is that Perth’s market is increasingly defined by product discipline and delivery certainty, with the research identifying “delivery certainty is key” and calling out builder risk and procurement models as core success factors, alongside “timing and staging”.&nbsp;

Perth apartment sales hit strongest pace since late 2021 as builder capacity tightens

<a href="https://www.apartments.com.au/developers/sammut-developments">Sammut Group</a> has secured development approval for its latest Brisbane apartment project, marking the Sydney developer’s next step in expanding its Queensland pipeline following the success of its debut Gold Coast development, Coast.

The approved project at <a href="https://www.apartments.com.au/new-apartments/44-glen-road-toowong-qld-4066">44 Glen Road, </a><a href="https://www.apartments.com.au/developments/toowong-qld-4066">Toowong</a> will deliver a 15-storey riverfront apartment building with 42 residences, significantly increasing the scale of the site’s previous approval for a smaller luxury scheme. Designed by Bureau^proberts, the development will comprise a mix of predominantly four-bedroom and two-bedroom apartments positioned to maximise Brisbane River and city views.

Sammut Director Julian Sammut said the group had been actively searching Brisbane for several years before identifying Toowong as the right fit.

“Brisbane was the right step for Sammut,” Sammut said.

“With the success of Coast we thought we should definitely look to do more in Queensland alone. We then pushed up to look at Brisbane. We've been looking for I'd say two to three years actually and it was hard to find the right location.”

<img alt="Sammut makes Brisbane apartment play" data-entity-type="" data-entity-uuid="" src="https://res.cloudinary.com/dz9xllyip/image/fetch/f_auto,c_limit,w_1440,q_75/https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/field/image/Screenshot%202025-12-23%20at%203.27.14%E2%80%AFPM.png?VersionId=dYAVIL7qdcGA8ojvkslSrLjczXFejSSx" />

Sammut said suburbs including New Farm and Teneriffe were considered before the group ultimately focused on Toowong due to its strong downsizer demographic and limited supply of developable riverfront land.

The site was acquired off-market after what Sammut described as a lengthy negotiation and planning process, with the developer pursuing an uplift to the original approval.

“We are DA approved now which is very exciting,” Sammut said.

“We've had our change approval come through and we've obviously doubled the height, 15 storeys plus rooftop. We've got 42 amazing apartments that are going to be coming to market soon.”

<img alt="Sammut makes Brisbane apartment play" data-entity-type="" data-entity-uuid="" src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,dpr_2.0,q_auto:good/https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202025-12-23%20at%203.27.26%E2%80%AFPM.png?VersionId=ohkRkY0dIZlqdfME2EZePsCQavRiBadE" />

Bureau^proberts said the design responds to Toowong’s evolving urban character, balancing contemporary apartment living with the area’s established residential identity.

“A place where traditional Queensland living has taken place for centuries; Toowong is seeing a shift of contemporary influence, commercial and retail hubs mixed with well-considered residential offerings – all the while maintaining its character and charm,” the architect noted in planning documents submitted to Brisbane City Council.

The architecture practice said the project’s form was shaped by its riverfront setting, flood considerations, neighbouring building scales, and view corridors.

“They said the mix of four and two-bedroom apartments capture the ‘fundamental qualities of Queenslander living,’ translated into the context of a contemporary subtropical building.”

The development sits just off Coronation Drive within walking distance of Toowong’s retail precinct and the upgraded Regatta ferry terminal, while also benefiting from proximity to the incoming green bridge connection to West End. Sammut said the accessibility and amenity offering were central to the site’s appeal.

The approval adds to growing residential activity along the Toowong riverfront, joining nearby projects including Consolidated Properties’ Monarch Residences and Spyre Group’s ARC Residences.

Sammut secures approval for debut Brisbane apartment development in Toowong

Developer Lanevick is heading back into Sydney’s apartment market after focusing more heavily on the luxury townhouse and terrace sector in recent years.

Lanevick, founded and directed by Steve Maroun, is expecting to receive approval in the coming months for a new apartment development in Gladesville, with the aim to launch it to the market later this year.

The 51-apartment project, designed by Studio Johnston, will comprise a mix of one-, two-, and three-bedroom apartments positioned toward the Hunters Hill downsizer market.

“Traditionally it’s been difficult for people in that market to downsize because there just hasn’t been the right product available,” Maroun said.

“We’re targeting buyers who might have 30 to 40 per cent of their house value sitting in the bank after downsizing.

“They still want good spacious entertaining areas, they still want quality design, but they also want flexibility and the ability to enjoy life a bit more after working hard for a long time.”

The project sits near Boronia Park and within close proximity to the Parramatta River foreshore, an area Maroun says offers more of a Hunters Hill lifestyle than a traditional apartment precinct.

“From a lifestyle perspective, it’s really more Hunters Hill than Gladesville,” Maroun said. “You’re close to the foreshore, close to parklands, and still connected back into the village precinct.”

From level four and above, apartments will capture water views&nbsp;toward Sydney Harbour. Communal amenity will include rooftop entertaining areas, wellness spaces, and a gym tailored toward owner-occupier buyers.

“We’ve really designed these apartments around that buyer coming from the Hunters Hill LGA and what they’re actually looking for in their next chapter.”

The proposed development has also been designed to respond to the changing character of the broader Gladesville town centre, where a growing number of mixed-use and residential proposals are expected to emerge over the coming years.

“Gladesville presented a rare opportunity to deliver a genuinely design-led residential project within an evolving lifestyle precinct, just moments from the growing Gladesville town centre, and we’ve approached the project with a strong focus on architecture, liveability and long-term community value,” Maroun said.

Maroun said Lanevick saw a first-mover advantage within the precinct as planning controls continue to evolve to accommodate greater housing density.

“We think there’s a real opportunity there that hasn’t really been serviced properly yet,” he said.

“There’s going to be a broader evolution of the whole Gladesville village precinct over time, particularly with more activation and mixed-use outcomes.”

The Venus Street proposal will include a commercial and retail component at ground level designed to contribute to that evolving streetscape activation.

“A big part of the thinking was how do you activate that area properly and create more vibrancy and amenity, which is what Hunters Hill has been looking for,” Maroun said.

Lanevick’s focus since 2020 has largely been on smaller-scale luxury townhouse and terrace developments. The developer recently completed Royale Randwick, also designed by Studio Johnston, where prices reached $3.65 million. The project was featured in the UDIA NSW 2026 Professional Development Prospectus and was also named a finalist for Development of the Year.

&nbsp;

Lanevick to cater for Hunters Hill downsizers with new Gladesville apartment development

Canberra

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The office market in Canberra has experienced an oversupply in recent years, driven by high vacancy levels due to the Commonwealth government policy and the demand for quality high-end space, say valuation firm Herron Todd White in their July office market update. 
As a consequence, the lower end price of the market felt the impact as a flow on effect from the abundance of space which in turn led to downward pressure on rents and increases in incentives available to tenants. 
The continuation of low interest rates provided the opportunity for those looking to invest or acquire smaller unit properties for under $500,000. Primary locations include the City, Kingston, Manuka and Braddon and secondary locations are Deakin, Turner and Phillip or one of the town centres, Belconnen, Gungahlin and Tuggeranong, says HTW.
This class of property comprises small office units ranging from 50 square metres to 200 square metres in units plan complexes.
An example being <a href="https://www.realcommercial.com.au/property-offices-act-griffith-502070558" target="_blank">Unit 1/22 Franklin Street Manuka</a> which sold in June 2017 for $276,000 with an area of 55 square metres showing $5,018 per square metre.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/07/13/HTWManuka.jpg" alt=""> 
Manuka is an inner south primary boutique shopping centre located within five minutes of the Parliamentary Triangle with a sought after office precinct. Unit 60 and 61/18 Flinders Way Manuka sold for $150,000, each being 55 square metres and 54 square metres respectively showing $2,727 per square metre and $2,777 per square metre and a yield of 7.5%. The units were leased and included two car spaces. 
Secondary locations include Deakin, Turner and Philip, an example being Unit 2/42 Geils Street, Deakin sold in April 2017 for $310,000 being a 83 square metre ground floor unit with a fitout in place. This showed $3,735 per square metre. Deakin is a secondary area occupied by medical and association tenants and private organisations. 
Owner-occupiers are dominating the market at present with access to finance and low interest rates providing the opportunity to purchase property via a superfund and obtain an asset for the future. 
The market performance is currently steady with values holding in most areas except Tuggeranong, where supply is higher than demand and some new mixed use developments are under construction.
"As we approach the later half of 2017 and beginning of 2018 the market should start to show signs of growth due to a number of Commonwealth Government lease deals coming to fruition and the opportunity for rental deals to provide some growth for the next few years," say HTW in the review. 
No new developments are due in the short term which will put pressure on the current space available. Until the mooted building projects re-commence there is no new space available in the ACT.
However, space is available in most areas at the lower end of the price range within the $250,000 to $500,000 range primarily in mixed use developments at ground and first floor levels, conclude HTW.
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jonathanchancellor-7SQnKwU6yx

Canberra's lower end of office market faces oversupply: HTW

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The Canberra market continues to look stronger and is rising as Sydney is fading.
The ACT took some time to join the party, and its conditions remain somewhat less than a “boom”, but are becoming increasingly buoyant.  All indicators - sales activity, price growth, rental growth and vacancies - indicate a market that’s trending upwards.
Having previously been hampered by downsizing in the public service and a unit oversupply, the Canberra showed signs of rising in 2014, when total residential sales increased to 9,200 from 8,590 the year before. Sales rose further to 9,829 in 2015 and the market has remained busy ever since.
Total residential sales volumes have been rising over the past two years. In 2012, 2013 and most of 2014, every quarter recorded residential sales below 2,300 - but since late 2014 most quarters have been above 2,400 sales.
This has occurred on the back of an improving economy (recently ranked No.2 in the nation behind NSW by CommSec), low unemployment and high average incomes.
The greatest strength has been in the housing market, with sales activity in the apartment market falling away last year.
As a result, the most positive statistics on prices and rents are being seen in the housing market, and much less so in the apartment market.
The latest figures from SQM Research suggest a 13 percent annual rise in house prices and a 4 percent rise of units. CoreLogic’s latest data says houses are up 10 percent and units 7 percent.
The Canberra figures for house price growth are bettered only by Melbourne and Sydney.
The national capital is also the national leader on rental growth, helped by very low vacancy rates. Both SQM and Domain suggest vacancies are consistently around 1percent (only Hobart is lower among the capital cities).
SQM says rents are up 7 percent for houses and 2 percent for units, while Domain reports 6 percent growth for houses and 5 percent for units.
Median rental yields are 4.1 percent for houses (compared to 2.8 percent in Sydney and 2.6 percent in Melbourne) and 5.1 percent for apartments.
Overall, as I have often commented, the standout characteristic of Canberra is the steadiness of its performance. I sometimes refer to it as the Goldilocks of Australian real estate: not too hot, not too cold, just right.
That, plus the low vacancies and the growth numbers now emerging, make the national capital increasingly appealing for investors.
Another predictable factor in the ACT market is the predominance of the northern part of the city in terms of growth markets.
While there are now growth suburbs across the Canberra metropolitan area, the strongest precincts once again are the Belconnen and Gungahlin districts in the north.
In the latest Hotspotting research for The Price Predictor Index, we have identified 18 Canberra suburbs with rising markets and nine of those are in the Belconnen and Gungahlin areas.
Belconnen (six growth suburbs) has taken over from Gungahlin (three) as the clear market leader.
Suburbs with rising markets in the Belconnen District include Flynn, Bruce, Florey, Holt, Macgregor and Evatt. Bruce, where house sales have risen from 38 to 41 to 44 to 54 in the past four consecutive quarters, is typical of the suburbs that are rising.
There are growth markets elsewhere as well, including in the Tuggeranong and Inner South precincts of the city. 
Terry Ryder is the founder of <a href="https://www.hotspotting.com.au/" target="_blank">hotspotting.com.au</a>. You can <a href="mailto:%20%3Cscript%20type='text/javascript'%3E%20%3C!--%20var%20prefix%20=%20'ma'%20+%20'il'%20+%20'to';%20var%20path%20=%20'hr'%20+%20'ef'%20+%20'=';%20var%20addy38821%20=%20'ryder'%20+%20'@';%20addy38821%20=%20addy38821%20+%20'hotspotting'%20+%20'.'%20+%20'com'%20+%20'.'%20+%20'au';%20document.write('%3Ca%20'%20+%20path%20+%20'/''%20+%20prefix%20+%20':'%20+%20addy38821%20+%20'/'%3E');%20document.write(addy38821);%20document.write('%3C//a%3E');%20//--%3E/n%20%3C/script%3E%3Cscript%20type='text/javascript'" target="_blank">email him</a> or follow him on <a href="https://twitter.com/hotspotting" target="_blank">Twitter.</a>
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terryryder-YECXbqmri2

As Sydney market fades Canberra gains strength: Terry Ryder

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Buyers wanting to a toehold in Canberra's retail market have the choice of the primary locations of Canberra City, Braddon and Kingston Foreshore, as well as the secondary locations of Woden, Belconnen and Gungahlin, according to valuation firm Herron Todd White.
Entry to the lower end of the primary locations ranges from $5,500 to $7,500 per sqm for ground floor bare space in a modern building. Waterfront locations are fetching prime rates of up to $10,000 per sqm due to the preference for water views over standard street frontage. Yields for good quality accommodation in primary locations range from 5.5% to 7.25%, said HTW.
"The typical property would be a unit (strata title) in a complex comprising 50 to 150 square metres within a mixed use commercial and residential development. It would include good exposure to passing traffic and a mix of tenancy occupants such as restaurants, individual clothing retailers and boutique outlets, accompanied by an office and residential component on the upper levels," HTW said in its June update on the retail market.
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Secondary locations such as Woden and Belconnen are more accessible at the lower end of the market, it said.
A number of new mixed-use developments are providing modern space at ground floor level which is more affordable than primary location equivalents. These include developments such as Mystere at Macquarie and Altitude, Northpoint Place, Belconnen. Market entry prices range from $2,000 per square metre to $7,500 per square metre for a 92 sqm unit with a 10-year lease in an established centre.
Property Observer found a few properties for lease in Belconnen and Macquarie.
An office space is available for lease at <a href="https://www.realcommercial.com.au/property-offices-act-belconnen-502432362" target="_blank">10 Lathlain Street, Belconnen</a> for $63,700 p. a. excluding GST.
 <img src="https://www.urban.com.au/images/2017/06/14/BelconnenACT.png" alt="">
A retail centre at <a href="https://www.realcommercial.com.au/property-medical+consulting-act-macquarie-502398858" target="_blank">3-9 Bowman Street, Macquarie</a> is available for rent at $102,000 p.a. excluding GST. It is a two-level office/retail building with floor area of 255 sqm.
 <img src="https://www.urban.com.au/images/2017/06/14/MacquarieACT.png" alt="">
Yields achieved for secondary commercial properties range from 6% to 10% and reflect the strength of the lease covenant nature, age of the improvements and the type of purchaser investor or owner-occupier. The lower price sector is stable at present with demand coming from self managed superannuation funds and owner-occupiers. The market appears to be securing long term potential over the initial yield.
The population growth in the northern suburbs of Canberra and densification of the inner city is seeing demand for this property type grow as people enjoy the convenience of accessible local goods and services. Both primary and secondary locations are offering this type of property and continue to evolve.
"We are seeing the emergence of Melbourne-style laneway occupants providing interesting and point of difference uses that were previously unavailable to retail uses. An example is No Name Lane in the city opposite Hobart Place which provides a vehicle-free pedestrian zone, allowing a pleasant alternative to the typical corner shop or shopping centre space situated between two buildings."
The secondary locations are providing opportunities for purchasers to acquire property in the lower price sector at an entry level that is similar to that in prime locations, yet more affordable. 
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Canberra's secondary locations provide good entry level into retail: HTW 

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Canberra’s Capital Executive Apartment Hotel has changed hands for the first time in 22 years in a complex deal that has involved a large-scale unit buy-out.
The sale to Madison Hotel Group will see the property undergo extensive refurbishment before relaunching under their new brand as Madison Suites Canberra.
The group, run by family business partners Brett Morgan and Beverley Clench, purchased the management rights to the 87-unit apartment hotel on Northbourne Avenue along with 36 freehold units, which the vendor had acquired over a number of years.
Negotiated by Resort Brokers Australia on behalf Stanbritt Pty Ltd, headed by long-time director and sole proprietor Jim Stanwell, the sale was handled jointly by broker Russell Rogers and managing director Ian Crooks.
Mr Rogers said the sale took almost 12 months to conclude as it hinged on Madison Hotel Group also seeking to buy the balance 51 units in the building from individual investor owners.
“In the end, they have independently secured 48 of the other units, which allowed their purchase from the proprietor to be finalised,” he said.
“So it was a very satisfying result, particularly as Canberra is one of Australia’s most tightly-held accommodation markets.”
Resort Brokers Australia declined to disclose the sale price.
Madison Hotel Group, which owns a number of properties in Canberra, Sydney and regional NSW, operates both short-term and permanent residential accommodation businesses.
They also own the Chifley Plaza Hotel in Townsville, North Queensland, which is now being refurbished for planned rebranding as Madison Plaza Townsville.
Resort Brokers’ Ian Crooks said the unusual “hybrid” Canberra sale would see the Capital Executive Apartment Hotel revert from a management rights operation to a more traditional hotel-style establishment under largely single ownership.
“It is a prime property on a large 2,040 square metre corner block in Canberra’s major tourism and accommodation precinct, five minutes’ walk to the CBD,” he said.
“It has been consistently recording occupancy rates over 80 per cent, and there is strong potential to further grow the business.
“The buyers are experienced operators who will usher in a new era for the property, with refurbishment starting immediately.”
Accommodation is a mix of studio apartments and one-bedroom spa suites, while facilities include a business centre, gym, sauna, two spa pools, 24-hour undercover security parking, and an onsite licensed restaurant (outside operator).
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j.ballantyne1990-6AQqhLzZaK

Canberra’s Capital Executive sells for first time in 22 years

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The ACT government’s budget earlier this month signalled three major changes for the property market.
The changes include extension of the land tax to all homes that are not the owner’s principal place of residence, whether they are rented or not, said lawyers Meyer Vandenberg in a note. The new tax is expected to raise an additional $2 million in revenue annually and will be implemented from July 1, 2018.
In a nutshell, it is a vacancy tax. Earlier this year, Victoria had announced a vacancy tax and the Federal Budget also announced a new tax on vacant properties owned by foreigners in its efforts to address housing affordability.
At present, land tax is already paid by owners of residential properties that are rented, or that are owned by a company or a trust. Land tax is not paid by the owners of commercial property.
The basis for calculating land tax, and the marginal rates, will also change on 1 July 2017, said the law firm.
Another change is the stamp duty on the transfer of commercial properties. From July 1, 2018, stamp duty on the transfer of a commercial property valued at less than $1.5 million will be abolished. 
Stamp duty will be paid at a rate of 5% where a property is valued at $1.5 million or more. 
“This will mean that the majority of commercial conveyance transactions in the ACT will not be subject to stamp duty from 1 July 2018,” they said.
Also, from June 7, 2017 stamp duty rates will change for commercial and residential properties. The commercial stamp duty rate will be effectively half of the residential stamp duty rate, they said.
From July 1, the government has also changed the Lease Variation Charge (LVC) applicable to varying crown leases to limit the maximum number of residential dwellings permitted on the land. This applies where a crown lease doesn’t currently specify the maximum number of dwellings.
Currently, a variation of this type of crown lease would incur an LVC of $7,500 per dwelling for the first three dwellings, and $5,000 for each additional dwelling.
“We understand that from 1 July 2017, the new LVC will be calculated on the basis of a flat charge of $30,000 per dwelling,” the note said.
However, development applications which are formally submitted for a completeness check in eDevelopment before 30 June 2017 will incur the current (lower) LVC.
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Land tax to be levied on vacant residential properties in ACT

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A new Canberra park has snagged a national design award for greening up one of the territory’s newest urban spaces.
Hassett Park in the burgeoning Campbell 5 precinct was recognised with the 202020 Vision Green Design Award at the Good Design Awards in Sydney on Thursday night.
The award celebrates green and living infrastructure in urban environments.
Hassett Park, designed by Jane Irwin Landscape Architecture and Hill Thalis Architecture and Urban Projects, incorporates water sensitive urban design, bike paths, play spaces and native trees.
The park sits within Campbell 5 precinct off Constitution Avenue.
Kate Hulm, head of marketing, public relations and research for JWLand – the developer behind Campbell 5 – said Hassett Park was a key selling point, with many apartments overlooking the space.
“There is a strong sense of community pride among Campbell residents and Hassett Park has really added to that,” she said.
“The intelligent design of the park provides great natural amenity for Campbell residents and is a popular spot for group fitness classes, dog walking and outdoor play.”
The award-winning park is among a number of green features throughout Campbell 5’s design including vertical gardens, rooftop gardens and trees.
The growing precinct encompasses a number of residential projects including Koben, Greenwich Grand, Saint Germain and Greenwich Park.
Judging criteria for the green design award included a project’s contribution to green space, the prioritisation of vegetation at the development stage, human connection with nature, air purification, water sensitive design and improvements to green infrastructure.
Hassett Park was named after the first chief of defence force staff, General Sir Francis Hassett.
It hosted the Campbell 5 Community Festival in May to raise funds for Soldier on Australia
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Park at Campbell 5 wins green gong at national Good Design Awards

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Canberra house prices have grown significantly over the past 12 months, according to Herron Todd White’s recent report.
The property valuation firm says that this could be due to both limited supply of houses and low interest rates.
“Like most capital cities in Australia, Canberra has seen a significant growth in house sale prices over the past 12 months," the report said.
"This is partly due to low interest rates and a limited supply of houses coming onto the market.
"It is expected this trend will continue as properties in established suburbs remain tightly held and highly sought after.
"Currently houses are providing much stronger capital gains than apartments.
"This is probably due to an oversupply of apartments in the Canberra market and a number of apartment developments beginning construction.
"These low capital gains look set to continue as new apartment developments are beginning construction in the CBD, Molonglo Valley, Woden and Gungahlin."
The report noted low interest rates seem to be contributing to the strong housing market.
"An increase in interest rates may see some property owners being stretched financially which could result in them being forced to sell.
"If several of these sales are introduced onto the market it may reduce prices and could represent good buying opportunities.
"Alternatively an interest rate rise may force more buyers out of the market which could reduce demand,” the report stated.
Detached housing are also increasing in the area Herron Todd White commented.
“Detached houses in established suburbs have been performing very well throughout the ACT recently due to a perception of low supply and high demand.
"This trend may slow over the next six to twelve months due to new dwellings built on Mr Fluffy reclaimed blocks coming onto the market.
"A change in planning regulations allows multiple dwellings to be built on what were previously only single dwelling blocks.
"This would result in an increase in the number of dwellings in the sought after established suburbs of Canberra and may slow the strong capital growth seen lately,” the report advised.
Herron Todd White stated that other factors for the price growth includes stamp duty and similar changes.
“Another factor likely to change the direction of the property market would be changes to legislation.
"Recently we have seen the stamp duty costs being abolished for properties under $600,000 in Victoria for first home buyers.
"There hasn’t been any talk of similar legislation being implemented in the ACT but if it were it would incentivise first home buyers to enter the market.
"This could affect the market in different ways. It may help balance the apartment market by providing more demand for an over supplied market.
"However in the housing market it would increase demand for what seems to be an under supplied market therefore increasing prices further,” the report commented.
A three bedroom house at <a href="https://www.realestate.com.au/sold/property-house-act-kingston-125277642" target="_blank">15 Cunningham Street</a>, Kingston (above) was recently sold for $1.25 million.
Similarly a two bedroom apartment at <a href="https://www.realestate.com.au/sold/property-apartment-act-turner-125274570" target="_blank">401/155 Northbourne Avenue</a>, Turner (below) was recently sold for $770,000.
<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/2017/05/16/401_155%20Northborune%20Avenue.jpg" alt="">
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House prices in Canberra increase given limited supply: HTW

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Long-time rich lister and Canberra Airport owner Terry Snow is Australia's newest billionaire.
Last year, he slipped two places to 84 in the BRW Rich List of the wealthiest 200 Australians. His estimated wealth was around $685 million last year.
But this year the word is that he's joined billionaire status. The magazine hits news stands later this week in its 34th edition.
Last year’s billionaire’s club had 53 rich listers, with Harry Triguboff, Australia’s largest apartment builder, leading with a wealth of $10.62 billion.
Other property tycoons in the top 5 were Westfield chairman Frank Lowy at no. 3 with a wealth of 8.26 billion and John Gandel at no. 5 with $5.4 billion.  
Terry Snow's smartest investment was buying the Canberra Airport for $65 million in 1998 with a 99-year-year lease from the Federal Government. He committed $480 million to its redevelopment.
The upgrade paved the way for a major new terminal in 2013 and the airport has more international flights now. 
The value of all the properties in the airport portfolio was listed at $2.6 billion in its 2016 financial report, up from $2.39 billion the previous year. It made an operating profit of $216 million.
Since privatisation Canberra Airport precinct now comprises the terminal and Fairbairn RAAF base, as well as Brindabella Business Park and Majura Park, all of which have undergone extensive development.
The Canberra-based businessman, who started out as an accountant, is spending $100 million on a horse facility that would be his legacy project.
It caters for all equestrian sports, including dressage, showjumping, three-day-eventing, campdrafting and vaulting, according to the Australian Financial Review.
He has appointed Cox Architecture for designing the custom-built horse park on Snow’s 860-hectare property, Willinga Park, at Bawley Point on the NSW south coast.
Snow wants the park to stage a variety of horse events, for which he intends to partner with leading equestrian organisations and attract corporate sponsorship, the AFR said. The private park has multiple arenas, a stable complex and showy hospitality space.
He’s also breeding pedigreed Australian Stock Horses with price tags averaging $11,000, whose sale is expected to help the costs of the park’s full-time staff.
The property comprises three Olympic-sized dressage arenas, one of which is undercover, plus a warm-up arena, the AFR recently noted.
It was Bob Snow and his two sons, Terry and George, who founded the forerunner to CPT in Canberra in the early 1980s. Terry Snow was the driving force behind Capital while his brother held  separate interests in two listed companies, Biron Corporation and Skansen Holdings.
Terry Snow, of Capital Property Trust, debuted with $70 million in 1993 when the 10 richest were: 
<ol>
<li> The Murdoch family         $4.5bn</li>
<li> Kerry Packer                $3 bn</li>
<li> Sidney Myer, Neilma Gantner and Marigold Southey  $820 m</li>
<li> David Hains                $750 m</li>
<li> Frank Lowy                 $670 m</li>
<li> The Smorgon family         $650 m</li>
<li> Lindsay Fox                $600 m</li>
<li> Richard Pratt              $550 m</li>
<li> John Gandel                $500 m</li>
<li> Solomon Lew                $500 m</li>
</ol>
 
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Long-time rich lister and Canberra Airport owner Terry Snow is Australia's newest billionaire

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Canberra’s unit prices in private treaty sale hover around the $400,000 mark, according to CoreLogic’s latest report.
The property data firm says that the current median price for units in Canberra is $399,250.
Houses in Canberra cost around a $605,000 medium.
<a href="https://www.propertyobserver.com.au/images/2017/05/22/Screen%20Shot%202017-05-22%20at%2012.20.06%20pm.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/2017/05/22/Screen%20Shot%202017-05-22%20at%2012.20.06%20pm.jpg" alt="">
Sydney continues to be the most expensive place to purchase a unit with units sitting at a $730,000 medium.
Adelaide is the cheapest place to purchase a unit with a unit there costing around a $348,500 medium.
A one bedroom unit at <a href="https://www.realestate.com.au/property-apartment-act-o%27connor-125514882">7/16 Macpherson Street</a>, O’Connor (above) has been listed for above $360,000.
Similarly a three bedroom unit at <a href="https://www.realestate.com.au/property-apartment-act-bruce-125498294">15/48 Lampard Circuit</a>, Bruce (below) has been listed for $390,000 plus.
<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/2017/05/22/15_48%20Lampard%20Circuit.jpg" alt="">
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Canberra unit median prices approaching $400,000 mark: CoreLogic

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Median properties in Canberra can cost between $400,000 to $605,000, according to CoreLogic’s latest report.
The property data firm says that units in Canberra have a median price of $400,000 while houses come around a $605,000 median.
<a href="https://www.propertyobserver.com.au/images/2017/05/15/Screen%20Shot%202017-05-15%20at%2010.56.58%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/2017/05/15/Screen%20Shot%202017-05-15%20at%2010.56.58%20am.jpg" alt="">
This puts Canberra as the third expensive locality to purchase a house, with Sydney and Melbourne above it.
However it is also the third cheapest locality to purchase a unit with Adelaide and Hobart units being much cheaper.
A three bedroom house at <a href="https://www.realestate.com.au/property-house-act-charnwood-125323746" target="_blank">9 Holtermann Place</a>, Charnwood (above) has been listed for $510,000 plus.
Similarly a three bedroom house at <a href="https://www.realestate.com.au/property-house-act-macgregor-125384290" target="_blank">62 Hollows Circuit</a>, MacGregor (below) has been listed for $439,000 plus.
<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/2017/05/15/62%20Hollows%20Circuit.jpg" alt="">
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