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

Joel Robinson

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

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

Lowe Living unveils Middle Park apartment development

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

DVB Projects to launch second Broadbeach apartment tower as demolition commences

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

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

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

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

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

CBRE

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One of Western Australia’s leading pearl businesses is being offered for sale.
CBRE Agribusiness has been appointed to sell Abrolhos Pearls WA, with its showroom business based in Geraldton and the Abrolhos Islands.
The offering includes a licence to operate a hatchery at Coronation Island, island camps, vessels, barge, jetty, operating equipment and seeding and storage rooms, as well as a 122 square metre freehold show room in Geraldton.
The sale also includes the business’ retail arm, Chimere Pearls – a showroom and online store selling a range of Chimere pearl jewellery.
CBRE’s Phil Melville said the sale represented a unique opportunity to gain a footprint in the pearling industry. 
“This sale represents a unique opportunity to gain a presence in Western Australia’s pearling industry – the state’s second most valuable fishing industry after rock lobster, valued at around $67 million,” Melville said.
“We anticipate interest from investors wanting to take advantage of online platforms to create niche markets for the specialised jewellery sector, as well as a presence in one of the world’s most pristine environments.”
The Abrolhos Islands comprise 122 islands approximately 60 kilometres west of Geraldton on Western Australia’s mid-west coast. The islands’ extensive reef is renowned for its tropical and temperate sea life, which forms one of the state’s unique marine areas.
Abrolhos Pearls WA was established in 1998, with the first culturing experiments undertaken in 1998, and subsequent first pearl harvest 12 months later. The first commercial harvest of culture pearls was released in 2000.
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j.ballantyne1990-6AQqhLzZaK

Leading Western Australia pearl business for sale

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Asia Pacific millennials share similar long-term lifestyle priorities with other generations, despite often superficial perceptions of this emerging superclass, according to a CBRE report.
The Asia Pacific Millennials: Shaping the Future of Real Estate survey redefines the perceptions of millennials in the Asia Pacific region and how they approach lifestyle priorities through defined live, work and play ambitions.
Based on responses from 5,000 millennials in Australia, China, Hong Kong, India and Japan, the report demonstrates perceptions that millennials prefer informal employment, seek to change hanging jobs regularly and avoid financial responsibility are inaccurate in this region.
Consistent with previous generations, most millennials save money to buy a home and spend prudently. The report also illustrates that this demographic aspires to carve out a stable career but take into account factors such as office design when selecting an employer—with 71 percent of respondents willing to give up other benefits for a better office environment.
<a href="/images/2016/11/09/Figure%202.jpg" target="_blank">Click to enlarge</a>
<img src="/images/2016/11/09/Figure%202.jpg" alt="">
“The millennial demographic in Asia Pacific is a game-changer for businesses across the board. Their live, work and play priorities and habits will shape economics, redefine opinions on workplace design and functionality, and drive new attitudes towards consumption and experience for the foreseeable future,” said Steve Swerdlow, Chief Executive Officer, CBRE Asia Pacific.
“Millennials represent the fastest source of spending power regionally and serve as the most influential demographic framing future trends in real estate through their lifestyle behaviour, requirements and priorities of living, working and play,” said Dr Henry Chin, Head of Research, CBRE Asia Pacific.
The report also highlights some key differences between millennials in Australia and Asia.
CBRE’s Head of Research Australia, Stephen McNabb, said a relatively low proportion of Australian millennials (35 percent) live with their parents /in the family home, compared to 70 percent in Asian countries. Australian millennials are also more likely to be married or live with a partner (54 percent), compared to 37 percent in Asia.
Another key difference relates to receiving financial support from a parent or guardian when buying a home – with just 27 percent of Australian millennials receiving this type of support compared to 63 percent in Asia.
Almost two-thirds of the region’s millennials are still living with family due to both cultural practices and financial factors. In most major markets surveyed, the high cost of residential property across the region are providing challenges for Asia Pacific millennials to accumulate the necessary capital to buy their own home.
The survey found that Asia Pacific millennials do aspire to own their own home, with 65% of respondents planning to buy property in the future. However, 63% of respondents said that they are forced into renting as they are unable to buy, and until they have the financial means to live independently, millennials will continue renting.
<a href="/images/2016/11/09/Figure%204.jpg" target="_blank">Click to enlarge</a>
<img src="/images/2016/11/09/Figure%204.jpg" alt="">
“Developers and city administrators should take heed of these trends by constructing more affordable housing for rent and sale,” said Dr Chin. “In response to the challenges for millennials to accumulate capital for down payments, there needs to be innovation in structuring mortgages for young first-time homebuyers.”
Mr McNabb added that affordability was a particular issue in Australia.
“The findings shows that 76 percent of Australian millennials want to buy a property but 66 percent believe they won’t ever be able to afford it and 74 percent believe wages are not keeping up with property prices,” Mr McNabb said.
<a href="/images/2016/11/09/Figure%205.jpg" target="_blank">Click to enlarge</a>
<img src="/images/2016/11/09/Figure%205.jpg" alt="">
Millennials comprise 25 percent of the total workforce population in Asia Pacific. The figure is even higher in Australia at 35 percent and is set to reach 40 percent by 2030.
While salary and benefits are still the main draw when considering a job, millennials also factor in lifestyle elements such as office design, flexible working, location and commuting time. The survey findings underline the importance of a high quality office environment—more than 70 percent of respondents said they believe that employers should put more thought into their working environment. Millennials view their office and its immediate surroundings as a community where they can relax, socialise and engage in other activities.
While a preference for new amenities is common across all generations it is the strongest for millennials, with wellness/relaxation facilities and green space being the biggest influence on Australian millennials when looking for a job.
Due to the advent of technology, millennials are also increasingly demanding the freedom to work anywhere, anytime—more than 60% of Asia Pacific millennials desire flexibility and mobility at work.
Job loyalty by millennials is also stronger than perceived; two-thirds of Asia Pacific millennials (or 61 percent of Australian millennials) expect to work for the same company, or for a small number of companies, throughout their career. Findings reveal that inspiration, responsibility and career progression are prerequisites to attract and retain the talent of millennials. People-centric workplace strategies that embrace diversity, choice and community—major draw cards for Asia Pacific millennials in career choice —can keep talent happier, more engaged and more productive.
Just 6 percent of Australian millennials want to work for a large number of companies with frequent changes.
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Think that millennials job hop and will avoid home ownership? Think again

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The De Angelis Hotel Group has purchased the Uncle Buck's Hotel in Mount Druitt for $25.3 million.
CBRE’s Daniel Dragicevich and Sam Handy negotiated the sale on behalf of ASX listed Lantern Hotels Group. Lantern advised that the sale price represented a 30.5 percent premium on the 30 June 2016 book value.
The 5,640sqm site offers future mixed used redevelopment potential underpinned by B4 mixed-use zoning and 32m building height approval.
The hotel features a 24-hour liquor licence with ‘early opener’ flexibility, and 27 gaming machines.
Dragicevich said Uncle Bucks offers all the core trading attributes of a top 50 gaming pub.
“Assets such as this are seldom publicly offered to market, which contributed to a keenly contested process which yielded an exchange of contracts some four days prior to the scheduled close of the campaign," he said.
“The availability of Sydney’s AAA gaming pubs is rapidly diminishing, with only a small pool of these assets remaining under private individual ownership and seemingly available for acquisition in the foreseeable future. Genuine market buoyancy at the top end is being driven by this undersupply, in combination with robust trading conditions, improved debt liquidity and a low interest rate environment."
 
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De Angelis Hotel Group snaps up Uncle Buck's at Mount Druitt

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Melbourne’s inner city apartment market continues to strengthen, with the $3.375 million sale of a development site in Glen Iris.
The auction of <a href="https://www.realcommercial.com.au/property-land+development-vic-glen+iris-502115138" target="_blank">the 29-33 High Street property</a> attracted both local and offshore bidders to compete for the 664 square metre site.
The property has permit approval for a boutique apartment development consisting of 25 apartments and two ground floor retail shops.
A locally based, first time Chinese developer secured the site at a land rate of $5,083 per square metre through CBRE. 
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Glen Iris apartment development site sells at $3.37 million

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More than 100 staff from CBRE Perth will embrace their philanthropic spirit next month, when they join forces to undertake a major rejuvenation project for not-for-profit-organisation, Rise Network.
Rise Network is a Western Australian-based charity organisation providing community support and services to disadvantaged people.
Works include new pathways, wheelchair accessible vegetable garden beds, shaded areas, barbecue areas, fencing and guide rails.
CBRE is aiming to raise $38,000 to fund the project.
CBRE’s Managing Director, Western Australia, Lloyd Jenkins said CBRE was proud to support such an important cause.
"The project forms part of CBRE’s corporate volunteering program CBRE Cares – an Australian wide annual initiative that sees hundreds of staff take part in a range of charity pursuits, he said.
RISE Network provides support to those impacted by mental health issues; people living with disability; aged care services; youth services; and housing support.
 
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Perth unites to show philanthropic spirit

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A spike in household trade sales across Australia is set to drive the next wave of growth in the industrial and logistics sector, CBRE's latest research reveals.
CBRE's Industrial and Logistics, Q3 2016, MarketView report highlights increased levels of spending on household goods – driven by a national spike in home renovations – is offsetting reductions in manufacturing.
CBRE’s Senior Managing Director, Industrial &amp; Logistics, Pacific, Matt Haddon said the buoyant housing and home renovation market was increasing demand for warehouse space in several markets across the country.
"Greater demand for warehouse space for the occupation of household trade suppliers is increasing competition and supporting rental growth prospects in core markets," Mr Haddon said.
Highlighting the upturn in activity in the household trade sector, Dulux Group, Target, Hickory, Reece, Stanley Black and Decker, Koch Fertiliser and Reece have all taken up significant leases this year, securing a combined 315,890 square metres.
The report shows household trade growth has lifted 5.3 percent in the past 12 months, while increasing home approvals over the same period have also strengthened demand for warehouse space.
Mr Haddon said the underlying strength of Australia's housing sector would continue to be a steady source of growth for the industrial and logistics market.
"Investor appetite for high quality, well leased industrial assets remains strong, with buyers seeking out opportunities in core markets on Australia's east coast," Mr Haddon explained.
“With rents close to the bottom of the cycle, investors are becoming increasingly attracted to the prospect of income growth potential, in addition to the traditional stability that has long been a hallmark of the industrial and logistics sector.”
In the three months to September 2016, $968 million in industrial and logistics assets changed hands – the strongest quarter of this year.
Sales volumes were driven by a number of major transactions in Victoria, including the GM Holden site in Port Melbourne for $130 million and the Coles Distribution Centre in Truganina for $100 million.
Super prime yields meanwhile have continued to compress in Sydney and Melbourne, falling by 40 basis points year on year to 6.3 percent - driven largely by the strength in demand for premium assets.
By comparison, non-core markets such as Perth, Adelaide and regional locations have not witnessed the same compression, with investors remaining guarded and showing a preference for the major eastern seaboard core locations.
CBRE Senior Research Manager Kate Bailey said Australia's industrial and logistics sector was showing evidence of a two-speed market, with rents on the east coast continuing to increase while the resource states of Western Australia and Victoria remained sluggish.
"Melbourne experienced its first quarter of positive rent growth in Q3, recording an increase of 0.8 percent, which was predominantly driven by the northern and city fringe markets," Ms Bailey said.
"Sydney continued to experience rental growth, with 2.0 percent recorded in Q3, however, with a stronger supply pipeline forecast, this level of growth is expected to soften."
Sydney
New South Wales' strong housing market, coupled with an upturn in retail trade, has supported growth in the state's industrial sector.
"Retail trade has been growing consistently, both nationally and in New South Wales. With this comes additional demand for warehousing space in close proximity to residential centres," Ms Bailey said.
"A solid pipeline of infrastructure projects earmarked for the state is also expected to provide a stimulus for industrial occupiers."
During the quarter, super prime net face rents increased 2.0 percent and secondary rents lifted 2.2 percent. The outer west has recorded the strongest growth, with an 11 percent jump for prime assets.
The quarter has also seen strong interest from offshore investors, with Singapore-based Mapletree Logistics Trust securing Altis Property's $85 million portfolio.
Melbourne
Industrial sales so far in 2016 totaled $1.42 billion - 56% greater than in the same period in 2015.
The strong sales pipeline has been underpinned by the sale of Coles distribution centre in Truganina for $100 million on a yield of 5.4 percent and the GM Holden site for $130 million.
Ms Bailey said the sales highlighted the strength of the domestic buyer market.
"Despite strong offshore interest in industrial assets, interest from domestic buyers remains high. Solid sales growth is anticipated for the rest of the year, with continued high levels of enquiry from foreign and local buyers," Ms Bailey said.
During Q3, super prime yields compressed by 17 basis points to 6.0 percent - reflecting the continued demand for high quality industrial assets.
By comparison, yields for secondary assets are continuing to decrease at the same rate as super prime assets, highlighting investors' ongoing search for good returns.
Melbourne industrial rents recorded positive growth for the first time since the June quarter in 2014 – a trend that will continue amid a reduced supply pipeline in the short to medium term.
Super prime rents jumped 0.8 percent in the quarter – underpinned by a 3.6 percent increase in the north – while secondary rents remained unchanged.
Brisbane
Occupier demand for industrial space is being driven by a flight to quality in Brisbane, with tenants increasingly chasing higher quality assets
"Landlords have become more aggressive in attracting and retaining tenants, with incentives edging higher to an indicative 15% - and in some cases, incentives twice this level have been observed," Ms Bailey said.
Super prime yields remained around 6.5% in Q3, with prime yields hovering at 7.4% and secondary yields at 8.7%.
While 2016 sale volumes are down on 2015 - $402 million versus $578 million in the corresponding period – institutional investors are growing portfolios by funding design and construct or speculative development.
"The design and construct, and pre-commitment market is generating the greatest level of activity, with businesses taking advantage of competitive deals in flight to quality areas such as Redbank, Rochedale and Brisbane Airport," Ms Bailey said.
Perth
Consolidation continues to be a persistent trend in Perth's industrial market, with occupiers focused on increasing efficiency and lowering costs.
Industrial rents declined during Q3, with super prime net face rents dipping 4.9% and secondary net face rents lowering by 4.8%.
"The ongoing rental softening in the industrial market directly corresponds to the weaker confidence evident as a result of the cooling resources sector," Ms Bailey said.
Yields remained unchanged over Q3, following yield compression in the first half of the year – driven by the low interest rate environment and lack of supply of well-leased, investment-grade assets in the market.
Adelaide
Adelaide's inner west is emerging a sought after industrial pocket, with low levels of supply in the area underpinning strengthening levels of demand for assets.
Yields remained flat across all markets in Q3, following a period of strong compression, which is reflective of investors seeking out investments that offer better returns relative to risk.
Adelaide's industrial supply pipeline remains strong, with the September quarter seeing 23,310sqm of new space added – the strongest quarter of 2016.
Despite this however, only a small amount of new industrial space is forecast over the next 12 months, which may help to support some rental growth.
Canberra
Canberra's Mitchell industrial precinct is positioned to benefit from the Metro Capital light rail project currently underway, with it underpinning both demand and investment in the space.
"The Mitchell industrial area will benefit from this massive infrastructure project in both the construction phase and the operational phase as operating the rail line will require the employment of these industrial skills," Ms Bailey said.
Canberra industrial rents remained steady in the September quarter, with super prime net face rents at $109 and secondary rents at $75.30.
There has been just one transaction in Canberra's industrial market this year, a multi-use showroom in Mitchell for $6.55 million.
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Home renovation boom drives next wave of industrial growth

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John James' RL57, the creators of the iconic James Street precinct in Fortitude Valley, have been commissioned to create another food destination in Brisbane's Gasworks precinct.
It will be set on the ground floor of Newstead's new luxury apartment tower Haven, which is currently under construction by developer HCAP Developments.
RL57 has already secured three high profile occupiers, Betty's Burgers &amp; Concrete Co, Salt Meats Cheese and Jocelyn's Provisions.
Each of the groups have identified Haven as their preferred location within the precinct.
<img src="/images/2016/11/02/VW%2015_Draft%2003_H.jpg" alt="" width="495" height="229">
Betty's Burgers, which opened its first restaurant on Hastings Street in Noosa in 2014, has taken an eight-year lease of a 150 sqm space.
Salt Meats Cheese first opened in Sydney's Alexandria in 2012 and now has four more restaurants in Sydney and one in Surfers Paradise.
They have taken a nine-year lease over 170 sqm of space.
A little closer to home is Fortitude Valley's iconic cake, pastry and bread shop, Jocelyn's Provisions, which has a five-year lease deal for 60 sqm of space.
The new venture will be known as Newstead Provisions and will add to the retailer's existing James Street store.
All tenancies, which will be a mix of food and beverage, retail services and showrooms, will all overlook either Waterfront Park of the Gasometer public space.
It will cater to more than 5,000 new residents and the estimated 9,000 office workers expected to take up space in the Newstead area. 
The remaining four tenancies aren't expected to sit on the shelves for long and will be snapped up soon.
CBRE's Anna Dunworth and Chesters Real Estate's Greer Gittoes are handling the leasing.
“RL57 is applying the same knowledge and expertise that made James Street such a success to Haven,” Dunworth told the Australian Financial Review.
Set to be completed mid next year, Haven's retail space will comprise over 1,100 sqm beneath the 25-storey apartment tower.
All of Haven's 220 luxury apartments have already sold out. The penthouse collection was one of the leading premium owner occupier sales projects in Brisbane during 2015.
 
 
 
 
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Haven to become Brisbane's newest centre of foods

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The Australian Nursing and Midwifery Federation (ANMF) Victorian Branch is to sell its long time Melbourne headquarters.
The property is tipped to generate wide ranging interest from investors, hoteliers, education groups and student accommodation providers.
CBRE has the offering of the two adjoining buildings at 532 and 540 Elizabeth Street, set between Melbourne’s health, education and Victoria Market Precincts.
Funds raised from the sale will help fund the construction of a new multimillion dollar ANMF head office and education facility, which is being developed directly opposite on the western side of Elizabeth Street.
Due to be completed in September 2017, the new 10-level facility will include an auditorium and educational facility to cater to the federation’s fast expanding member base in Victoria.
ANMF’s Secretary Lisa Fitzpatrick said the Victorian branch had expanded from 27,000 members to more than 76,000 in the past 20 years
There is the larger ANMF House building at 540 Elizabeth Street and a double-storey character building at 532 Elizabeth Street, otherwise known as 29 Leicester Street
The properties will be offered individually or in one line.
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Victorian nurses look to sell Melbourne headquarters

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Granville is emerging as one of Sydney’s active property markets, with a proposed 20-storey residential tower development proposed.
CBRE has been appointed to sell 2-6 Cowper Street – the site of Granville’s newest residential project, The Niu Granville – on behalf of developer Develotek.
Located on a 3,496sqm site, The Niu Granville is a two staged residential development comprising 264 units – including a mix of one, two and three bedroom apartments.
The proposed 20 storey development, which benefits from a central position in the heart of North Granville, also includes four levels of secure basement parking and ground floor retail/commercial. 
CBRE’s Alex Mirzaian said the property was positioned to capitalise on the ongoing revitalisation of Western Sydney.
“Granville and the wider Parramatta region are earmarked for major growth over the next two decades, with the NSW Government expecting to create 25,000 jobs and 25,000 new homes by 2036,” Mr Mirzaian said.
“The majority of North Granville is currently included as part of the study area for the Parramatta Road Urban Renewal Project, which will further ensure its position for strong growth and the success of both commercial and residential projects.”
Situated within close proximity to the new Parramatta Road development, and providing direct access to WestConnex via a proposed laneway, The Niu Granville will offer views of both the Parramatta and Sydney CBDs.
Mr Oliveri said the new WestConnex motorway would help further fuel demand for housing in Western Sydney.
“With WestConnex well underway, the travel time between Sydney’s major employment hubs will be significantly reduced,” Mr Oliveri said.
The growth of Western Sydney’s education sector is also expected to strengthen demand for housing in the area, with more than 10,000 students enrolled into Western Sydney University’s new Parramatta Square campus.
“Set to officially open early next year, Parramatta Square campus will underpin demand for housing in the area – particularly apartment style accommodation that provides options for both individuals and families,” Mr Oliveri said. 
Offers are due November 17.
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Granville development site in Western Sydney growth hub listed

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A local investor has paid a premium to acquire an office investment in Cremorne for $1.85 million.
CBRE negotiated the sale on behalf of Melbourne fashion label, White Suede, with the sale subject to a two year leaseback.
Located at 47 Cubitt Street, the 271 square metre three-level office/showroom was offered to the market via a public auction campaign, however, the sale was negotiated prior to auction.
The competitive pre-auction bidding contributed to the price equating to approximately $11,600 per square metre over the land and $7,800 per square metre over the building.
 
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