<a href="https://www.apartments.com.au/developers/sunland-group">Sunland Group</a> has officially lodged plans for its first Gold Coast apartment project since the departure of the Abedian family from the company three years ago, unveiling a new high-rise proposal for a prominent Broadbeach corner site on Old Burleigh Road.

The application was submitted by an entity directed by Tom Jamieson, stepson of longtime Sunland leader Soheil Abedian, and Riaz Rezvanipour, brother-in-law of Sahba Abedian, Soheil’s son.

Sunland acquired the 1,283 sqm site on the corner of Old Burleigh Road and Armrick Avenue for $9.5 million late last year and is now seeking approval for a <a href="https://www.apartments.com.au/new-apartments/99-101-old-burleigh-road-broadbeach-qld-4218">42-storey tower with 81 apartments</a>.

<img alt="First look: Sunland Group returns to Broadbeach with new Old Burleigh Road tower plans" data-entity-type="file" data-entity-uuid="fea2946d-90ee-4cfc-babe-2a8ad5db2cb6" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/pers.png?VersionId=BV0fihJw31nDIQ8ozY_h3GbS8mxDyhnm" />

Designed by <a href="https://www.apartments.com.au/architects/contreras-earl-architecture">Contreras Earl Architecture</a>, the proposed tower at 99-101 Old Burleigh Road would deliver a predominantly larger-format apartment mix aimed at the owner-occupier market. Plans include 17 two-bedroom apartments, 55 three-bedroom apartments, and nine four-bedroom residences across 35 residential levels.

The development also incorporates three basement levels, four podium parking levels, two levels of communal recreation facilities, and rooftop plant and equipment. A total of 189 car spaces are proposed, significantly exceeding the 90 spaces required under the planning scheme.

The architecture adopts a sculpted, curvilinear form, with deep wraparound balconies and integrated landscaping intended to soften the tower’s vertical expression. The planning report states the building’s “slender footprint/form provides a complimentary yet varied built form within the local streetscape” and contributes to “a varied, yet ordered skyline.”

Contreras Earl noted in its Architectural Statement that from the early stages, the project addressed a fundamental challenge: how to accommodate the required residential yield while avoiding the conventional model of a tower sitting on a rigid, fully resolved parking podium.

“The most direct response would have been to consolidate parking into a singular, flat podium and extrude a repetitive tower above,” the statement said. “While efficient, this approach would result in a consolidated built form with limited engagement with the surrounding landscape and public realm.”

Instead, the conventional podium model was “deliberately rejected”. The architects described the base of the building as “a landscaped architectural condition where structure, planting and circulation are integrated”.

“Rather than presenting a continuous built mass, the base of the building is articulated through a series of concrete planter elements that organise the podium into a fragmented system,” the statement said. “This approach reduces the perceived bulk of the lower levels while establishing a more permeable interface with the streetscape and adjacent open space.”

<img alt="Sunland" data-entity-type="file" data-entity-uuid="923fad8d-c960-4527-8fbe-975cf1ddf88d" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-05-25%20at%2010.32.03%E2%80%AFAM.png?VersionId=pngwb0hYOIUpq9vDw6F2EsOiVuHF3DiX" />

&nbsp;

The site sits within the High Density Residential Zone and inside the City of Gold Coast’s unrestricted “HX” building height area, where the planning framework anticipates intensified residential development tied to the expanding light rail corridor. The planning report notes the area is undergoing “transition toward more intense development forms” given its proximity to Broadbeach, Surfers Paradise, and high-frequency public transport infrastructure.

Positioned directly opposite Broadbeach Park and within walking distance of Florida Gardens light rail station, the development would sit among a rapidly evolving stretch of Old Burleigh Road that has become one of the Gold Coast’s most active apartment development corridors.

The application joins a growing pipeline of luxury residential projects reshaping Broadbeach, including nearby developments by 5Point Projects, Polycell, and Graya.

The planning report argues the project contributes toward the Gold Coast’s long-term housing targets under the South East Queensland Regional Plan, which forecasts the need for more than 100,000 additional high-rise dwellings across the city by 2046.

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The Abedian family departed Sunland Group in late 2023, ending a four-decade association with the company, and subsequently established the private development firm Abedian &amp; Co. The group is currently delivering <a href="https://www.apartments.com.au/new-apartments/greenmount-residences-cnr-hill-street-and-marine-parade-coolangatta-qld-4225">Greenmount Residences</a> at Rainbow Bay and recently launched <a href="https://www.apartments.com.au/new-apartments/18-mary-avenue-14-18-mary-avenue-broadbeach-qld-4218">18 Mary Avenue</a> in Broadbeach.
</section>

Joel Robinson

First look: Sunland Group returns to Broadbeach new apartment market with new Old Burleigh Road tower plans

The Minns Labor Government has established the new Bays West Delivery Authority to lead the development&nbsp;of the Bays West Precinct and Blackwattle Bay Precinct.&nbsp;

The Authority is charged with creating Sydney’s newest precinct, a thriving, connected, sustainable hub with White Bay Power Station as its cultural heart. Its vision is to build on the area’s natural, cultural and industrial history to shape a vibrant new neighbourhood.

The precinct will deliver up to 8,500 well-located homes, including a minimum of 10 per cent affordable and essential worker homes. Combine new housing with public open space, opening public access to the waterfront for the first time in more than 100 years, while retaining important deep-water facilities to support Sydney’s working harbour.

Located just minutes from the Sydney CBD and connected to a world-class metro, ferry, walking and cycling links, the Bays West precinct will rebalance housing growth towards well-serviced inner-city locations and help tackle the state’s housing crisis.

The Bays West Delivery Authority,&nbsp;an agency of the Department of Planning, Housing and Infrastructure, will report to the NSW Minister for Lands and Property who already has oversight of major precinct renewal projects including at Blackwattle Bay and Barangaroo.

As part of the broader Bays West transformation, the Minns Government recently announced that a proposal from Lendlease to redevelop part of the Bays West Precinct has progressed to Stage 2 of the NSW Government’s unsolicited proposals process.

<img alt="Sydney" data-entity-type="file" data-entity-uuid="2ed71eb9-d8e8-4fa7-b9d1-de4531dcf2f3" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-05-25%20at%209.42.31%E2%80%AFAM.png?VersionId=IDryFIbped9SNDg72LEN_EecvhUsOPvp" />

The Minns Labor Government has also confirmed the Bays West precinct will have a new suburb name. This will be the first major suburb built in close proximity to Sydney’s CBD in decades and will encompass the area currently being referred to as Bays West, including Glebe Island and the White Bay Power Station. Served by a new Metro station just five minutes from the CBD, it will become one of the most populous suburbs in the Inner West and one of Sydney’s premier cultural destinations.

An early works program is taking shape, which&nbsp;includes the first stages of an international design competition.&nbsp;

The aim of the Bays West&nbsp;International&nbsp;Design Competition is to&nbsp;ensure design excellence is embedded in the project from the start. The competition will deliver an&nbsp;urban framework that defines the character, ambition and long-term identity of&nbsp;this&nbsp;former industrial precinct as it transitions to a vibrant, inclusive and sustainable residential&nbsp;neighbourhood.

The competition will be led by the Bays West Delivery Authority in partnership with Government Architect NSW.&nbsp;

It will launch with an invitation for a global Expressions of Interest, before moving to an invitation-only stage that will be assessed by a panel that&nbsp;will provide advice to Cabinet who will select a winner.

Premier of NSW, Chris Minns said the establishment of the new Authority is the first step in transforming the Bays West precinct into a vibrant, livable suburb minutes from the Sydney CBD and two stops from Hunter St Station on the Metro West line.

“The Authority will deliver well-located homes close to the heart of the city and integrate the new precinct with Blackwattle Bay and the new Sydney Fish Market.

“This is a generational opportunity to build a new suburb on the city’s edge and open the harbour foreshore to the public for the first time in a century.”&nbsp;

Minister for Lands and Property Steve Kamper said the new Bays West Delivery Authority established by the Minns Government will turbocharge the development of Sydney’s newest suburb.

“The Authority is working at a record pace to deliver an international design competition, planning pathways and a financial model so that this development benefits Sydney with well-designed homes in a central location, close to public transport, jobs, entertainment and essential services.

“If we want Sydney to stay liveable and affordable, we need to be bold about using underutilised government-owned land to deliver homes for the future while making sure essential working harbour functions can be accommodated.”

Bays West Delivery Authority established to "turbocharge" Sydney’s newest suburb

Around 400 additional homes could be built at Southwark Grounds on Port Road, lifting total site capacity from 1300 to around 1700 dwellings.

A recently approved code amendment would allow apartment towers of up to 14 storeys in some areas of Renewal SA’s redevelopment of the former West End Brewery.

Renewal SA Acting Chief Executive Shane Wingard said he welcomed the code amendment, with the increase in heights and homes making a positive impact on the supply of high-quality, well-connected housing close to the city.

“By going higher across some parts of Southwark Grounds, we are adding a substantial number of very well-located homes with little impact on project delivery time or planned open space,” Mr Wingard said.

Since the project officially launched in 2025, Mr Wingard said more than 12,000 enquiries had been received about living at Southwark Grounds.

“The very strong early interest we’ve seen since homes were first released in the precinct reinforces our plans to create more housing opportunities,” he said.

The Southwark Grounds code amendment was launched in December last year, with community engagement undertaken over five weeks from January.

It proposed increasing maximum building heights from eight to 14 storeys on the eastern section of Southwark Grounds, and to 12 storeys across the remainder of the site, with minimum building heights ranging from two to four storeys.

The code amendment was implemented through an Early Commencement policy in late January, allowing developers to quickly explore the viability of increased height and housing yield while other planning processes continue.

One of the first developers delivering apartment sites have already finalised redesigns to increase the number of apartments following the code amendment.

Samaras’ development adjacent to the future Colonel Light Park is now planning to deliver 125 apartments across 11 storeys, significantly greater than original plans of around 50 apartments across four storeys.

The developer is also exploring the potential for additional affordable housing outcomes.

Most of the apartments at Southwark Grounds will be delivered within a master-planned precinct on a large parcel of land on the eastern portion of the site, covering around two-thirds of its 8.4 hectares.

Wingard said detailed precinct planning over the coming months may identify further opportunities to increase yield further that could see total apartment numbers at Southwark Grounds, exceed this number.

Affordable homes at Southwark Grounds will also see a net increase, with Renewal SA maintaining its commitment to a minimum of 20 per cent affordable housing across the development.

&nbsp;

&nbsp;

Civil works have begun across the site, with construction under way on the first new roads surrounding a townhouse precinct in the south‑west corner of Southwark Grounds. This includes Renewal SA’s 17 Founder’s Row homes, which are on track for completion by Christmas.

“We expect to have people living at Southwark Grounds by the end of the year, so delivering roads and public spaces for those residents is among our highest priorities.”

Construction of 40 townhouses off Anderson Street, known as West Village and being delivered by Contour, is forecast to begin in mid‑2026. Kolabb’s Anderson Lane development will follow shortly after, delivering a further 26 townhouses.

Southwark Grounds is a state government‑led urban renewal project now set to deliver around 1,700 homes over the next decade.

Homes will be supported by a supermarket, a range of retail and hospitality offerings anchored by a revitalised Walkerville Brew Tower, a childcare centre, car parking and well‑connected public spaces.

400 new homes planned for Adelaide's former West End Brewery site

Brisbane developer&nbsp;<a href="https://www.apartments.com.au/developers/cavcorp">Cavcorp</a> has lodged plans for a new mixed-use residential development at <a href="https://www.apartments.com.au/new-apartments/55-wyandra-street-teneriffe-qld-4005">55 Wyandra Street</a>, Teneriffe, anchored by an 85-metre public laneway designed to reconnect the suburb’s riverfront with the Gasworks precinct.

The buildings, known as Teneriffe House and Teneriffe Lane, would replace the existing Queensland Cotton head office site with a 15-storey residential tower transitioning to eight storeys toward Helen Street. The project has been designed by Plazibat Architects and lodged as a code assessable development application for 93 apartments across a 3,401 sqm mixed-use site within the Newstead and Teneriffe Waterfront neighbourhood plan.

Central to the scheme is the transformation of an existing service easement into a publicly accessible cross-block connection linking Wyandra and Helen Streets. Cavcorp says the new laneway will act as both a pedestrian shortcut and a landscaped civic space between the Teneriffe Riverwalk, ferry terminal, and Gasworks precinct.

<img alt="First Look: Cavcorp unveils Teneriffe House and Teneriffe Lane plans for landmark wellness tower in Teneriffe" data-entity-type="file" data-entity-uuid="26e7f058-b065-4de8-b13d-a2b8cb64dfcc" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/bldg.png?VersionId=sELS0ZKYi361oYipUa1BIKfe_.DLZoFV" />

“The revised proposal delivers a legacy public-realm cross-block link, permanently secured for community use, transforming an existing private easement into a safe, high-quality pedestrian connection between the Teneriffe heritage riverwalk and the Gasworks–Long Island precinct,” the planning report states.

The laneway will sit beneath a large subtropical loggia integrated into the podium levels of the development. The design incorporates deep landscaping, water gardens, lobby spaces, business lounges, and ground-floor apartments to create what Cavcorp describes as a climate-responsive “urban verandah.”

The tower itself has been designed as a slender form with recessed floorplates and curved translucent corners inspired by contemporary Japanese architecture. The building height aligns with the Commercial Road precinct controls, which permit towers up to 15 storeys within proximity to Longland Street.

<img alt="First Look: Cavcorp unveils Teneriffe House and Teneriffe Lane plans for landmark wellness tower in Teneriffe" data-entity-type="file" data-entity-uuid="a8a17d40-43b6-4718-b3fd-67676fcbb485" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/pers%202_1.png?VersionId=i3VwDtp5AmL_8InW7w4qRbDFEpb744Jt" />

The project will comprise a mix of larger-format apartments aimed at owner-occupiers, downsizers, and families. The proposed apartment mix includes 11 loggia apartments across the lower levels, 50 four-bedroom Sky-Terrace apartments from levels three to seven, and 32 Sky-Pool Homes occupying the upper tower levels. The Sky-Pool Homes will feature private thermal plunge pools integrated into oversized balconies.

According to the application, the apartments are intended to reinterpret the scale and character of Teneriffe’s woolstore conversions and Queensland homes within a vertical residential format.

“The sky-pool homes build on Cavcorp’s previous projects and introduce a distinct apartment typology to Teneriffe, informed by both local and international precedent and responding to an identified market demand for enhanced safety, space and amenity,” the planning submission notes.

A major focus of the proposal is its five-level wellness and lifestyle offering, extending from the basement through to the rooftop.

Amenities proposed include a rooftop Swim &amp; Racquet Club with a 25-metre Olympic lap pool and tennis court, coworking spaces and libraries, golf simulators, wine storage, concierge facilities, business lounges, pet wash areas, and rooftop longevity-focused wellness spaces with spas, outdoor fitness zones, and landscaped terraces.

<img alt="First Look: Cavcorp unveils Teneriffe House and Teneriffe Lane plans for landmark wellness tower in Teneriffe" data-entity-type="file" data-entity-uuid="944b352c-49b9-4247-a4c6-5967b4b69fda" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/amenity.png?VersionId=Ed_qKjAtMwFT.5gfl3jiA9QwdWxSMsaX" />

All parking will be concealed within basement levels accessed from Wyandra and Helen Streets. Cavcorp says the deep-basement engineering approach allows the entire ground plane to prioritise landscaping, pedestrian movement, and active frontage rather than vehicle infrastructure.

The development continues Cavcorp’s concentration in Newstead and Teneriffe, where the Brisbane developer has delivered a number of apartment projects including Lucent, Le Bain, and Luminare, as well as the Long Island Wellness Precinct nearby. Several of those projects have received national design and architecture awards, including recognition under Brisbane’s “Buildings that Breathe” program.

Cavcorp unveils wellness-focused Teneriffe House and Teneriffe Lane apartment buildings

Focus Group Investments has lodged plans for a new apartment development at <a href="https://www.apartments.com.au/new-apartments/64-70-hanover-street-fitzroy-vic-3065">64–70 Hanover Street</a> in Fitzroy, seeking to utilise the Victorian Government’s recently introduced Great Design Fast Track pathway to accelerate approvals for the project.

The proposal is among the latest developments to emerge through the state-led initiative, which was established to fast-track well-designed residential projects in activity centres and transport-connected inner-city locations. The pathway allows qualifying developments that meet elevated design and housing benchmarks to bypass traditional council planning timeframes and instead be assessed directly by the Department of Transport and Planning.

Designed by SJB, the development will comprise a mix of apartments above activated lower levels, with a strong focus on architectural articulation, landscaping, and communal amenity. The design response seeks to balance the industrial character of Richmond’s former warehouse precincts with a more contemporary residential form.

<img alt="First look: Focus Group Investments taps Victoria’s Great Design Fast Track for Richmond apartments" data-entity-type="file" data-entity-uuid="abea51cc-d85b-479e-9aef-a589f3b37ca7" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/ground.png?VersionId=e1Kf8EyPWwyiVumtqQ4rM5S4GpOR3CCz" />

Proposed are 63 new dwellings, a wide ranging mix of studio, one-, two-, and three-bedroom apartments, and townhouses and duplexes. They will be spread across a part-three, part-eight storey building.

The Planning and Urban Context Report by Tract says the development is of an "exemplary architectural standard" and has been carefully crafted by SJB Architects.

"Dwellings&nbsp;will benefit from excellent access to natural light, cross-ventilation opportunities and extensive communal space," the report noted.

The architectural material highlights the project’s integration of landscaped elements and communal spaces throughout the building. The proposal also incorporates sustainability initiatives aligned with the Victorian Government’s push for higher-performing apartment developments under the fast-track program.

The Great Design Fast Track was unveiled by the Victorian Government in 2024 as part of a broader housing supply strategy aimed at accelerating the delivery of new homes. Projects assessed through the pathway must demonstrate high-quality architecture, sustainability outcomes, and housing diversity while being located close to public transport and existing infrastructure.

<img alt="First look: Focus Group Investments taps Victoria’s Great Design Fast Track for Richmond apartments" data-entity-type="file" data-entity-uuid="afdbe834-8dc4-4a77-a943-ba07bc927348" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/site_11.png?VersionId=0J657j.TaChAZfp93wqJYBTqSsnREJx2" />

Focus Group, founder and led by Paul De Lutiis, is increasingly active across Melbourne’s inner suburbs, targeting well-connected urban renewal locations suited to medium and higher-density residential development. The Fitzroy proposal continues that strategy, leveraging the area’s strong transport links, established retail amenity, and proximity to the CBD.

Fitzroy has been one of the most popular spots for developers and buyers in recent years. The likes of PACE Development Group, SMA Projects, Crema Group and Chapter Group, currently selling projects in the suburb.

First look: Focus Group Investments taps Victoria’s Great Design Fast Track for Fitzroy apartments

CBRE

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Telstra has secured a 300sqm retail space for a new Telstra Business Centre in North Sydney.  
The telecommunications provider will open its store at <a href="https://www.realestate.com.au/property/53-berry-st-north-sydney-nsw-2060" target="_blank">Shop 1, 53 Berry Street</a> for an initial gross rent of $1,435 per square metre +GST.
CBRE’s Amy Pfeiffer and Leif Olson negotiated the five-year lease, with an additional five-year option. 
The ground floor, corner retail space has a 28-metre floor-to-ceiling glass frontage that faces both Miller and Berry Street.
“The main drawcard for the tenant was the incredible amount of exposure the site has to not only foot traffic and vehicles, but also the upcoming Victoria Cross Metro Station,” Ms Pfeiffer said.
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Telstra opening second shop in North Sydney: CBRE

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<div class="_1665V undefined">
Estate agent Mark Wizel has departed CBRE Melbourne.

The departure was mooted ever since the commercial property estate agency poached Sydney agent Simon Rooney from competitor JLL in mid-2019.

Wizel’s Melbourne team was told to focus on smaller shopping centres and offices priced below $75 million, leaving the big listings to Rooney.

“It is with a heavy heart that I confirm my employment with CBRE is at an end,” he told The Age.
</div>

<div class="_1lC_G">“The company insisted on imposing unacceptable changes to my employment and despite my best efforts they refused to budge.”</div>

<div class="_1lC_G"> </div>

<div class="_1lC_G">[smartcode_project:default project_id=2929]</div>

<div class="_1lC_G"> </div>

<div class="_1lC_G">His most recent reported sale was a $20 million Frankston office.</div>

<div class="_1lC_G"> </div>

<div class="_1lC_G">Wizel recently advised his office had completed 15 sales post-civid totalling just under $190 million. </div>

<div class="_1lC_G"> </div>

<div class="_1lC_G">"At present it seems as if the pricing has held up but volume has dropped," the always opinionated Mark Wizel advised on linked after an AFR article appeared saying shopping centre and hotel prices were most at risk of price discounts. One reader unfairly suggested added the article "read like a Sam Tamblyn sponsored post." Tamblyn's firm Urban Property Australia carries out more than 3000 commercial and residential valuations a year.</div>

<div class="_1lC_G"> </div>

<div class="_1lC_G">Property Observer reported in September 2019 that CBRE's hiring of one of the country’s top-billing agents, Simon Rooney had caused turmoil in its Melbourne office.

CBRE had reportedly drafted rules that ensured Rooney got the trophy listings priced at more than $75 million in any of its state offices.

Rooney started at CBRE on August 1, 2019 after offers from rival groups, including Cushman &amp; Wakefield, becoming executive managing director, retail investments at CBRE.

Wizel's title had been CBRE's National Director of Retail Investments.

Wizel (top) claims to be "a household name" in his as yet unchanged linked profile.

He started with CBRE 13 years ago when he joined from Colliers.

 
</div>
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Mark Wizel gone from CBRE Melbourne

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Rio Developments Pty Ltd has sold two new 278sqm industrial units in Seven Hills for a combined total of $2,350,000 +GST. 
Separate private investors purchased Units 1 and 10 on Brumby Street, as part of a 10-unit industrial estate.
The fully-secure premises offer quality, high-spec office accommodation, ample parking and an onsite sub-station that provides each unit with 80 amps of three phase power.
The units can be accessed via one container height roller door with an internal clearance of up to 7.5 metres.
CBRE’s Matthew Alessi negotiated the deals, noting it was the estate’s easy access to major arterial roads and the M7 and M2 motorways that attracted the buyers.
“Both purchasers were attracted to these buildings as they are located near major roads at the front of the estate, offering a balcony and exposure to passing traffic on the street,” said Mr Alessi.
“The estate is now complete and has three brand new units remaining for sale,” he concluded
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Investors snap up new industrial units in Seven Hills: CBRE

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National property investment group, Collective Capital, has snapped up one of the most significant office buildings in Melbourne’s south-eastern bayside with the off-market purchase of a Frankston property valued at circa $20 million.
In a deal brokered by CBRE Director Investments, Mark Wizel, with Director Melbourne Middle Markets, Josh Rutman, the largely government tenanted building was sold 78 per cent leased with a net passing income of nearly $1.24 million. The yield was not disclosed. 
The 454-472 Nepean Highway property comprises a five level, 6254 square metre (NLA) building with ground floor retail on a 2501 square metre site with three street frontages and parking for 142 cars. It sits on the corner of Wells Street, adjacent to the headquarters for South East Water, which was completed in 2015.
Mr Wizel said the sale result reflected the property’s quintessentially defensive tenancy profile, a characteristic which has become highly sought after as forecasted challenges around the office tenant market continue to gain momentum. 
 "This was an astute purchase which delivered a very satisfying level of income security at a time when income security is at a premium across all types of investment classes.
"Interest in this and other defensive income properties, especially non-discretionary retail, has risen markedly in recent times and should continue to escalate whilst uncertainty remains,’’ Mr Wizel said.
Mr Rutman said investors were also responding to the growing trend of a decentralised workforce where office workers preferred to work either at or closer to home to reduce travel times without compromising productivity.
"Investors are seeking out opportunities where they can reposition buildings to cater for these changing worker needs in strategic locations which will be able to service a specific tenant catchment or industry.
"This building, and others like it, are well placed to come through the current crisis in good shape,’’ Mr Rutman said.
He said while there was little doubt that risk was being assessed more prudently at present, Melbourne’s celebrated white collar tenancy diversity was a positive in driving medium to longer term confidence in the market.
Collective Capital Director, Nicholas Thompson who founded the organization together with Dale O’Dwyer, said he was delighted with the transaction and confident about the strong returns that it would provide to investors. 
"The asset was strategically targeted due to its very strong government and government-funded tenancy profile, which, during these uncertain times, will provide our investors with a high level of income security,’’ Mr Thompson said. 
CBRE’s Head of Suburban Office Leasing, Gianni Macdonald, said whilst lease transactions had slowed, Melbourne’s metropolitan office market had seen a significant increase in enquiry from government tenants looking for fitted tenancies close to train stations.
"Buildings that are easily accessible by public transport and have tenancies ready to go are seen as a `no-risk’ solution for occupiers looking for new office space,’’ Mr Macdonald said.
 He said the landmark building’s highway location within walking distance of Frankston Railway Station and Bayside Shopping Centre had been a major factor in attracting tenants including NDIA, St Lawrence and Wise Employment.
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Collective Capital snap up $20 million Frankston office

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CBRE Group, Inc. has announced that it has been named to the Investor’s Business Daily (IBD) list of Top 50 Best ESG Companies.
CBRE sits at number 23, the only commercial real estate services firm on the list.
 The IBD Top 50 Best ESG Companies list is comprised of companies with strong environmental, social and governance ratings from MSCI ESG Research and high IBD Composite Ratings, reflecting broad strength in earnings and share-price performance.
“Our people are extremely focused on driving exceptional outcomes for all our stakeholders.  This is fundamental to CBRE’s ongoing success and is being increasingly reflected in our robust performance on independent performance measures like the IBD ratings. We deeply appreciate everything our people do to earn these accolades,” said Bob Sulentic, CBRE’s president and chief executive officer. 
The company has not been without sporadic controversy however, and in 2012 was accused in court of rigging the bidding for a bank branch in Miami.
Earlier this year, CBRE was included in the Dow Jones Sustainability World Index (DJSI World).
They were also ranked #15 on Corporate Responsibility Magazine’s list of the 100 Best Corporate Citizens and was recognized as one of the Barron’s 100 Most Sustainable Companies.
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CBRE Group makes Investor’s Business Daily's Top 50 list

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CBRE has identified a 48% uplift in enquiry for Sydney apartment block sales in the past year.  
The asset class now receiving twenty percent more enquiry than office, development sites or retail investment asset classes, with CBRE fielding 26,000 enquiries for apartment block properties in the past year, including 3,500 in the last month.  
This comes as CBRE’s Metropolitan Investments team of Nicolas Heaton, Gemma Isgro, Nick Wheatley, Toby Silk, Paul Grasso, Jason Lowry, Matthew Fenn and Aaron Arias prepare to launch six apartment block assets to market within the next month, totalling 83 units with an estimated combined value over $50 million and an average yield of 4.5%. 
The apartment blocks to be offered for sale individually are:
<table border="0"><tbody>
<tr>
<td>Address</td>
<td>Number of apartments</td>
</tr>
<tr>
<td>111 &amp; 113 Edgecliff Road, Woollahra (pictured above)</td>
<td>24</td>
</tr>
<tr>
<td>50 &amp; 52 Warren Road, Marrickville (pictured below)</td>
<td>19</td>
</tr>
<tr>
<td>3 Mulwarree Road, Randwick</td>
<td>8</td>
</tr>
<tr>
<td>27-29 Macpherson Street, Waverley</td>
<td>6</td>
</tr>
<tr>
<td>21 Cooper Street, Paddington</td>
<td>5</td>
</tr>
<tr>
<td>2 Sutherland Street, Cremorne</td>
<td>21</td>
</tr>
</tbody></table>
<img src="https://www.urban.com.au/images/2019/9/18/50%20%2052%20Warren%20Road%20Marrickville.JPG" alt="">
Heaton said apartment block investments offer buyers a far greater yield than the return offered by banks or bonds, with far less risk.
"The icing on the cake is the ability to strata and sell down or totally redevelop in the future, driving higher returns over the life of the investment.”  
Gemma Isgro, noted apartment block buyers are looking to purchase an investment vehicle with an initial return of around 3-4%.
"These investments also provide a land bank for future redevelopment, potentially seeing strong total returns of around 10%,” Isgro said.
While apartment blocks are traded regularly, CBRE is the first and only real estate agency to create a specialised team focusing on this asset class.  
“Previously vendors turned to their managing agent to sell apartment block assets but with the creation of the CBRE Apartment Block team five years ago we are uniquely positioned to offer vendors a broader reach of buyers locally, interstate and offshore,” Heaton noted. 
Recent CBRE managed apartment block sales have bucked the trend of low buyer activity in the traditional residential apartment market, including:
<table border="0"><tbody>
<tr>
<td>Month</td>
<td>Address</td>
<td>Number of enquiries generated</td>
<td>Sale price</td>
<td>Gross yield</td>
</tr>
<tr>
<td>
September 2019
</td>
<td>20 Alexandra Street, Glebe (pictured below)</td>
<td>660</td>
<td>$5.25m</td>
<td>3.1%</td>
</tr>
<tr>
<td>August 2019</td>
<td>10 Henrietta Street, Waverley</td>
<td>460</td>
<td>$20m</td>
<td>3.1%</td>
</tr>
</tbody></table>
 <img src="https://www.urban.com.au/images/2019/9/18/20%20Alexandra%20Street%20Glebe.JPG" alt="">
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Whole apartment block enquiries soar as $50 million portfolio hits the market

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CBRE has acquired Montlaur Project Services Pty Ltd, a project management company in Australia.
The acquisition is seen as strengthening CBRE’s position as a provider of real estate services across the Pacific region. 
Montlaur is active across a wide range of industry sectors including commercial, government, education, industrial, health and aged care, residential, retail and hospitality.
Since its founding in 1988, Montlaur has delivered more than 2.5 million square metres of projects valued at more than AU$4.0 billion for clients such as Transurban, SEEK, Energy Australia and the Victorian Government.  
Montlaur’s team of 52 professionals in Melbourne and Sydney will join CBRE’s existing Project Management group, which now has more than 170 professionals.
Montlaur Directors Brian Miller and Richard Hume will lead the combined Project Management operations in Victoria, reporting to Scott Jackman, Managing Director of CBRE’s Pacific Project Management business.
Montlaur’s Leon Lachal will take on a new role as National Director, Project Management.  
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CBRE acquires project management firm Montlaur 

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Epping is one step closer to welcoming an exciting new mixed-use precinct after an official sod turning ceremony was held for Cbus Property’s landmark development The Langston late last week. The ceremony is to celebrate embarking on the next phase of development, following completion of the demolition of the site’s former Westpac building.

<figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/pkxgm_2w.jpeg" rel="gallery-all" title="Scott Hutchinson, City of Parramatta Lord Mayor, Councillor Andrew Wilson and Mark Percy"><img alt="" class="image-article-full-width-580px" height="472" src="/s3/files/styles/article_full_width_580px/public/pictures/article-images/pkxgm_2w.jpeg?itok=5jaVGiIp" title="Scott Hutchinson, City of Parramatta Lord Mayor, Councillor Andrew Wilson and Mark Percy" width="580"></a>

<figcaption>Scott Hutchinson, City of Parramatta Lord Mayor, Councillor Andrew Wilson and Mark Percy</figcaption></figure><figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/di9rh7vw.jpeg" rel="gallery-all"><img alt="" class="image-article-full-width-580px" height="870" src="/s3/files/styles/article_full_width_580px/public/pictures/article-images/di9rh7vw.jpeg?itok=gRm44ETK" width="580"></a></figure>The event was hosted by Cbus Property Executive Manager Mark Percy, and Hutchinson Builders CEO Scott Hutchinson, with a speech given by City of Parramatta Lord Mayor, Councillor Andrew Wilson.

<figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/vzjn2neq.jpeg" rel="gallery-all" title="City of Parramatta Lord Mayor, Councillor Andrew Wilson"><img alt="" class="image-article-full-width-580px" height="870" src="/s3/files/styles/article_full_width_580px/public/pictures/article-images/vzjn2neq.jpeg?itok=LRNgjTxV" title="City of Parramatta Lord Mayor, Councillor Andrew Wilson" width="580"></a>

<figcaption>City of Parramatta Lord Mayor, Councillor Andrew Wilson</figcaption></figure><blockquote>
“Site works have progressed strongly since the start of 2019, with the team from Hutchinson Builders doing an amazing job in preparing the site for construction commencement. We’re now excavating and shoring up the basement levels, prior to starting work on the construction of The Langston’s three towers, so there will be a major transformation by the end of 2019.”
</blockquote>

- Adrian Pozzo, CEO of Cbus Property

Located in north-western Sydney, the mixed-use precinct is set to house three towers which will comprise of 19, 24 and 29 stories; as well as 1,681 square metres of retail space and 1,921 square metres of communal space. 

The Architectus-designed development will be located at the highest point in Epping and will offer some of the city’s best views of the Harbour Bridge and the Blue Mountains. Pedestrian access has been integrated throughout the precinct, connecting The Langston to the public library, Pembroke Street Park, as well as direct access to the new ultra-fast metro train service, with departures scheduled every four minutes during peak travel periods.

<figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/r0qi9ekw.jpeg" rel="gallery-all" title="The Langston"><img alt="" class="image-article-full-width-580px" height="580" src="/s3/files/styles/article_full_width_580px/public/pictures/article-images/r0qi9ekw.jpeg?itok=98dPKRlt" title="The Langston" width="580"></a>

<figcaption>The Langston</figcaption></figure><figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/ufmghndg.jpeg" rel="gallery-all"><img alt="" class="image-article-full-width-580px" height="493" src="/s3/files/styles/article_full_width_580px/public/pictures/article-images/ufmghndg.jpeg?itok=cMTmw1ch" width="580"></a></figure>Build time for the first tower has been anticipated to take just over two years, with completion slated for the third quarter of 2021.

<blockquote>
“The fact that we are now moving into the construction phase is a sign of our commitment to The Langston and to the future of Epping. We’re powering ahead with the assistance of Scott and the team at Hutchinson Builders, and we look forward to delivering a transformational, world-class project for the people of north-west Sydney.”
</blockquote>

- Adrian Pozzo, CEO of Cbus Property
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Olivia Round

Sod turning ceremony: The Langston embarks on stage two of development

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The petrol station market is set to see 186 projects completed in 2019, despite continued headwinds about electric vehicles entering the mainstream private car market. 
A new CBRE market review found Queensland would lead the way with 58 new petrol stations followed by Victoria with 43 and New South Wales with 38.
CBRE’s petrol station specialist Joseph Du Rieu acknowledged that an increase in supply of this magnitude would typically result in reduced pressure on prices, however, given these developments were being staggered, pricing had either remained steady or slightly in favour of vendors. 
“The number of new projects coming online reflects the confidence major companies have in the sector, where they typically look to enter into 15-year leases – resonating with the investor market,” explained Mr Du Rieu.  
CBRE’s recent transaction of a new 7-Eleven service station in Werribee (top), which sold for $5.93 million to a private Melbourne based investor on a yield of 5.04%, further highlights this trend. 
The newly built service station, which features a 15-year net lease with fixed annual increases, attracted both domestic and international buyers. 
Du Rieu noted that CBRE was continuing to field strong demand from both private and institutional investors for petrol station assets.
 
<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/2019/5/29/Petrol3.jpg" alt="">
“Given the growth, security and prominence of these landholdings, and the modern technology around the environmental aspect, as investors look to the future of the market they are recognising the alternative retail and commercial value of these sites,” Mr Du Rieu said. 
Private cars continue to be the most popular means of transport in Australia, with 66.1% of Australians either driving to work or being a passenger in a private car – an increase from 65% in 2011. 
While the proportion of electric vehicles in production in Australia is expected to reach 50% by the 2030s, translating to less than 14% of cars being electric, there will be a continued need for petrol filling stations into the future. 
However, the increase in electric vehicle production has been enough to see a shift in the way major energy companies are operating, with Shell being one of the first to make a move.  
In the past 12-months, Shell has installed fast charging terminals at 80 Shell petrol stations across the UK, Netherlands and China, offering a Shell Recharge service that charges an electric vehicle in just 30 minutes.  
“With potential for the implementation of fast charging services in future Australian petrol stations, it is likely that operators will continue to grow their retail offering and build on the services they provide customers while they charge their cars.” 
Close to $40 million of petrol station investments sold across Australia in Q1, with tier one tenancies like Coles Express and 7-Eleven resulting in strong yields of less than 6% for assets in strong inner metropolitan locations with attractive underlying land components. 
 
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jonathanchancellor-7SQnKwU6yx

Pumping petrol station market to see 186 projects completed in 2019

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Queensland's Airlie Beach Hotel has been sold after being on the market for the first time in over 30 years.
It took around a year to find the buyer and there was no price revealed.
It is understood local interests secured the leasehold of the waterfront Airlie Beach Hotel.
CBRE Hotels’ Wayne Bunz and Hayley Manvell managed the transaction on behalf of the O’Neill family, who have owned the asset for over 30 years.
The family will continue to own the freehold with a new operator.
The Courier Mail advised industry sources calculated the leasehold sold for about $3 million.
The hotel has three major street frontages and is on what is considered to be one of the most strategic land holdings on the Whitsunday coast. 
Wayne Bunz, CBRE Hotels agent said the Airlie Beach Hotel is situated on a significant 8,819 sqm waterfront site, in what is arguably the best location in the Airlie Beach CBD, with never to be built out views across to the Whitsunday Island
“It has been well maintained by the family with constant capital expenditure totalling approximately $3.5 million over the past five years,” he said.
The building facilitates 80 accommodation rooms, conferencing facilities, a commercial car park, a restaurant, a pub, retail liquor sales, 35 gaming machines and a stable retail rental income.
The retail tenancies have a "substantial" Weighted Average Lease Expiry (WALE), with the first lease expiring in 2022.
Christie Leet from PRD Nationwide said the property is one of the most strategic land holdings on the Whitsunday coast.
“A site of this size cannot be replicated on Airlie Beach’s Main Street, where over 60% of properties are already strata titled,” Mr Leet said.
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