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

Joel Robinson

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

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

Sammut secures approval for debut Brisbane apartment development in Toowong

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

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

Property developer One Living, backed by former Macquarie banker turned investment manager Chris Green’s investment firm, has unveiled plans to bring more institutional capital into housing to help address the national supply crisis.

The New York-based investor has focused his firm, GreenPoint Partners, on addressing the supply shortage hitting middle market housing in Australia.

It is backing the new One Living business to develop more than 1000 units along the eastern seaboard. The new firm is starting with a development on Mona Vale Road, on the border of Mona Vale and Pymble, in Sydney’s Northern Beaches, with around 140 apartments planned. They are eyeing off more sites across the city.

With cost pressures rising in the industry, One Living’s model is to be a vertically integrated developer-builder, so it can respond directly to the housing gap by removing the cost inefficiencies embedded in traditional residential delivery.

“We are building a platform designed to operate at scale and starting in a market where there’s a clear need for quality, attainable housing,” One Living joint managing director Joseph Scuderi said.

“It’s that missing middle – it’s that attainable end of housing… that’s what most Australians invest into and what Australians can actually afford.”

<img alt="Mona Vale" data-entity-type="file" data-entity-uuid="798dfa93-4941-4db6-a696-31e9dc18e81c" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-05-28%20at%202.31.50%E2%80%AFPM.png?VersionId=mKBqi5C_DmeiXS.AtJkcR8LQIxqCqmFi" />

GreenPoint Partners brings years of experience assembling and scaling real estate operating businesses across major markets. And Green sees a big opportunity in Australia.

“For its size, sophistication and importance to the community, Australia’s living sector has remained largely under-institutionalised, which represents significant opportunity,” Green said. “GreenPoint identified that gap, assembled the right team, and is backing One Living to build a platform that is aligned to market needs.”

Green said being a builder-developer would give the company the capacity and flexibility it required to deliver reasonably-priced homes.

“We want it to be at that attainable level; not super high end luxury but at that attainable level,” he said.

<img alt="Mona Vale" data-entity-type="file" data-entity-uuid="74a5344a-4b26-4d4a-ada3-056b1220be77" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-05-28%20at%202.32.15%E2%80%AFPM.png?VersionId=vY8hXHO4reBMdO8ZXMWCNtGZJofUPQ3j" />

&nbsp;

One Living will undertake a component of affordable housing in its schemes, which it will own and operate, and it could also run build-to-rent on some sites.

Green praised local policy settings.

“The NSW government is being very supportive, strategic and pragmatic in terms of how do we generate more supply of housing,” he said. “We think it’s actually positive for development and the bit that’s been lacking at that attainable level is that it’s lots of relatively small private developers, whereas we want to create an institutional platform.”

One Living is also&nbsp;looking at high-density projects and could take on more institutional funding in the future.

“The way we will be able to achieve economies of scale is through size,” Green added.

One Living enters Sydney's new apartment market with Northern Beaches site acquisition

It's been several years since there's been an opportunity to buy a brand new townhome in Melbourne's coastal suburb of Mordialloc. Even apartment developments in recent times have been few and far between in the area.

Local developer LDS Property identified the gap in new housing, securing a site on White Street, directly opposite&nbsp;Woodlands Golf Club Mordialloc. They've recently launched&nbsp;<a href="https://www.apartments.com.au/new-townhouses/wm-residences-mordialloc-102-white-street-mordialloc-vic-3195">WM Residences</a>, just 13 townhouses which they have already started building.

Projects by Buxton Director Heath Thompson, who is selling WM Residences, says the townhouses x that perfect middle ground be

"Mordialloc residents have had limited options to downsize within the suburb, often forcing them to look elsewhere despite long-standing ties to the area," Thompson says.

"With very little comparable new supply coming to market, projects like WM Residences are well placed, particularly as buyers look to capitalise on current conditions amid constrained supply."

[smartcode_project:default project_id=134646 project_image_fid=6109]

The development, designed by regarded architecture firm&nbsp;<a href="https://www.apartments.com.au/architects/ewert-leaf">Ewert Leaf</a>,&nbsp;adopts a deliberately restrained architectural approach, focusing on simplicity, durability and liveability rather than overt design gestures.

The boutique scale is central to the offering. With only 13 three-bedroom residences, each home is configured to prioritise functional layouts and everyday use, supported by private terraces and secure two-car garages.

Ewert Leaf’s design response leans into a calm, neutral material palette. Interiors are defined by oak flooring, white walls and soft finishes, creating a consistent and understated backdrop. The approach avoids trend-driven detailing in favour of longevity, with an emphasis on natural light and spatial clarity.

[smartcode_project:default project_id=134646 project_image_fid=6110]

Beyond aesthetics, the homes are designed to meet contemporary performance expectations. Each residence targets a minimum 6-star energy rating, incorporating double glazing, comprehensive insulation and all-electric Bosch appliances.

The project’s location supports a walkable coastal lifestyle, sitting within close proximity to Mordialloc’s foreshore, Main Street retail strip and the train station. Local cafés and dining venues, including Suburbia Deli and Hendriks Café, are within a short walk, reinforcing the area’s established neighbourhood character.

[smartcode_project:default project_id=134646 project_image_fid=6116]

While <a href="https://www.apartments.com.au/developments/mordialloc-vic-3195">Mordialloc</a> is often defined by its beach and pier, the project taps into other areas of day to day living, offering easy access to local food, casual dining and transport, rather than positioning itself purely as a lifestyle retreat.

WM Residences reflects a continued trend across Melbourne’s coastal suburbs towards smaller-scale, design-led townhouse developments, particularly on infill sites where proximity to amenity is already established.

With construction commenced prior to its market entry, the project aligns with a growing preference among buyers for developments with visible progress and defined delivery timeframes.

[smartcode_project_cta:default project_id=134646]

WM Residences fills gap in Mordialloc townhouse market

Commercial Development

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A one hectare beachside development site at Scarborough Beach, around 13 kms from Perth’s CBD, has been taken to the market through JLL.
The 242 West Coast Highway holding is the largest development site currently on offer within the Scarborough Redevelopment Area - one of the largest high density mixed-use sites to be offered in the Perth metropolitan area in recent times.
The 10,165sqm White Sands Tavern site, close to Scarborough and Brighton Beach foreshore, is being offered through a JLL expressions of interest campaign.
Scarborough Beach is undergoing a $57.4 million redevelopment which will see beachfront upgrades and several high-end multi-storey apartment projects coming up.
The existing 2,892sqm (NLA) two-level building generates an annual gross income of about $212,490 plus GST.
The campaign follows the sale of the neighbouring 17,695sqm Luna Maxi site in December.
JLL’s Nigel Freshwater, Phillip Fogliani and Sean Flynn are handling the campaign.
"Combined with its dual frontage to West Coast Highway and Hastings Street to the east, the scale of offering will significantly enhance site circulation, flexibility of development and potential to achieve maximum building height,” said Freshwater.
Scarborough and Brighton are rated amongst Australia's top beaches, he added.
Fogliani said that proposed development guidelines allow a base building height of 12 storeys, which can be increased to 18, over the majority of the site and generous site coverage of up to 80 per cent.
"Existing improvements comprise a 1,438 sqm upper level which is sublet to a gymnasium operator, while the 1,114sqm ground floor incorporates a licenced bar and TAB betting area, drive-through bottle shop, conveniences and tavern infrastructure facilities,” Flynn said.
The lease, with redevelopment clause, will expire in July 2017 with a five-year option.
The EoI for the White Sands Tavern site closes on March 17.
The site last traded for $20 million in 2010 having gone backwards from it's 2007 trade of $21.5 million.
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Scarborough Beach site with mixed-use potential on the market 

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A mixed-use development site at Cremorne (Richmond) in Melbourne’s inner eastern suburbs is up for auction on February 19.
It is expected to fetch more than $2 million.
Located at <a href="https://www.commercialrealestate.com.au/property/24-26-cubitt-street-richmond-vic-3121-2012536208" target="_blank">24-26 Cubitt Street</a>, the 365 square metre site will be sold with a planning permit for the development of a five-level building comprising a commercial office space and two apartments.
Cremorne is in the south-western corner of Richmond and adjacent to Melbourne’s premier sporting facilities and parklands, including the Rod Laver Arena, the MCG and the Royal Botanic Gardens, and abuts the Monash Freeway and the Yarra River.
According to marketing agent, Teska Carsons’ Matthew Feld, the property is ideally suited to the permitted development given its location and the success of similar projects within the vicinity.
“This is a well located site so close to every possible amenity in one of Melbourne’s most vibrant inner suburbs and within easy commuting distance to the CBD,” said Feld.
The site is zoned Commercial 2 under the City of Yarra Planning Scheme. The property will be sold with vacant possession.
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Melbourne’s Richmond site with mixed-use permit up for auction

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The planned development and expansion of the Busselton Central Shopping Centre has been approved by Western Australia’s Southern Joint Development Assessment Panel (JDAP).
The shopping centre is owned by the Australian Unity Diversified Property Fund (DPF), an unlisted property fund that invests in retail, office and industrial properties in Australia.
Busselton is about 230 kilometres south-west of Perth. 
Over the five years to June 2013, Busselton has experienced an average annual growth rate of 3.9%, which is significantly higher than the national average of 1.7% over the same period. The residential growth area is also a popular seaside tourist destination and is recognised as one of Western Australia's premier tourist spots and events capital.
Nikki Panagopoulos, property portfolio manager with Australian Unity Real Estate Investment, said JDAP’s approval was a significant milestone.
“This is the first step in developing Busselton’s main shopping centre, increasing in size by 40% to 16,000 sqm. The expansion will include a discount department store, additional specialty shops, and an entertainment precinct with cafes and a restaurant."
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Australian Unity development of Busselton Central Shopping Centre approved

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Construction has started on a $14 million Gold Coast building that holds promise for a tech hub and is expected to be operation in October 2016. 
Located at 120-122 Siganto Drive at Helensvale, the three-level, 4,491 square metre building will be home to AMMA Private Equity.
The building will also house the head offices of AMMA’s key investments: Guvera, Sportkix, Tapp Commerce and App Investments.
It also aims to serve as an incubator for tech start-ups by providing serviced office space.
“The tech hub has a very funky tech look and feel – both inside and out. It will provide our team with state-of-the-art technology that will allow them to work on delivering the next generation of mobile innovations,” said AMMA Private Equity Global CEO Paul Jansz.
"Helping to get the creative juices going will be the building’s roof-top bar and entertaining area, golf simulator and indoor cricket pitch.
“It will be the ideal space for creatives, technologists, designers and developers to generate new ideas, experiment and bring innovations to market.”
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AMMA invests in Gold Coast tech hub 

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Part of the City of Fremantle's $275,000 upgrade of the High Street Mall includes public seating and tables, bike parking facilities and better lighting.
The upgrades, slated to finish by the end of the year, are part of a local re-branding and refresh of the area, according to Fremantle manager of economic development and marketing, Tom Griffiths.
He said there’s also been some great work by landowners in preserving and improving the heritage components of some of the mall’s buildings, particularly in the Manning and Atwell Arcades.
“We’re also partnering with the owners of Atwell Arcade to implement an interactive public art piece we hope will become a key feature and talking point of the new-look mall. We expect to have this installed later next year,” he said.
“Over the past year the City has worked with landowners to devise a strategy to enhance the mall, which we all agreed was looking tired and in need of some attention. Part of this was landowners re-branding the mall and developing targeted leasing strategies to attract the right mix of retailers."
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Fremantle's High Street Mall upgrade continues

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Capital Corporation and Bluestone Property Group have merged to create a developer with a current pipeline of more than $2 billion worth of projects.
The new entity, <a href="https://capitalbluestone.com.au/" target="_blank">Capital Bluestone</a>, will have Capital Corporation founder and managing director Steve Grant as executive chairman, while Bluestone founder and managing director Ben Fairfax will continue in that role. 
Capital Corporation’s 25-year track record covers residential, commercial, industrial and retail property development. They concentrate on joint ventures around long term projects especially with a speciality in asset-strong entities including religious organisations and league clubs.
Its achievements include Sydney’s 172-hectare Norwest Business Park.
Capital has delivered a $700 million portfolio of 45 buildings, and accommodated the workspace needs of more than 1,000 businesses since 1990.
Since 2010, Capital has delivered a further $570 million in development partnerships, and as a combined group Capital Bluestone has delivered over $2.5 billion in total project completions.
“Formally joining together was a natural evolution of our relationship,” said Grant.
Bluestone Property Group, founded by Ben Fairfax in 2009, is aiming to complete work at its $750-million Sutherland shire project Woolooware Bay Town Centre in 2016.
The project will have more than 600 apartments, a shopping, dining and entertainment precinct and a rejuvenated new club for joint venture partner the Cronulla Sutherland Leagues Club.
All 460 available apartments have sold out in Woolooware Bay since launching in January 2014  – 97 percent to locals.
Other major projects includes a $143-million project called Veridian, a joint venture with Kogarah RSL Club, which will deliver the club with a new 2,000 square metre floor. Above the club, two 11-storey buildings will include 220 apartments in a mix of mainly one and two-bedroom types.
Also in the works is Esplanade, which will redevelop the existing Sydney Ice Arena on Norwest Lake into an integrated vertical waterfront community comprising residential towers, offices, cafes and bars.
“It’s something totally different for this part of Sydney. You say Norwest and people think business. It’s time to turn this into an absolute destination for high-end dining, business and apartment living,” said Grant.
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Merged entity Capital Bluestone has projects worth more than $2 billion

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A commercial property in Melbourne's Collingwood with development potential has sold for $3.535 million at a bullish rate of $8,838 a square metre.
The <a href="https://www.realcommercial.com.au/property-land+development-vic-collingwood-501694837" target="_blank">111-115 Langridge Street</a> building sits between Hoddle Street and Wellington Street, three kilometres from the Melbourne CBD.
"This was a very popular property, attracting 130 plus enquiries during the marketing campaign, many of whom attended," said Teska Carson selling agent Tom Maule, who along with Michael Ludski, sold it to a local owner-occupier.
The property comprises a two-level, 754-square-metre commercial building on a 400-square-metre site, zoned Commercial 2 with frontages to Langridge Street, Rupert Street and Montague Street.
The lease is for short term only.
The property, listed for the first time in more than 35 years, is within close proximity to Gertrude and Smith street commercial precincts and transport.
He said the sometime working class suburb had undergone gentrification in recent years, driven by the area’s lifestyle amenities, mostly within walking distance.
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Commercial building in Melbourne's Collingwood sells for $3.5 million

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Positioned at the gateway to the proposed $2 billion integrated resort and casino precinct ‘Queens Wharf’, 41 George Street Brisbane is set to attract both local and international attention when it goes to market this week.
The asset likely to attract bids of circa $150 million.
The 27 level commercial office building with 29,960sqm of net rentable area is on a 2,811sqm elevated corner site.
The State of Queensland is the major tenant bringing in a net passing income of $13,939,713 per annum.
The property is being marketed by Tom Phipps and Jason Lynch of Colliers International and Shaun Douglas and Ken Lucht of Chesterton International, on behalf of QIC in an international expressions of interest campaign. 
Mr Phipps said the lease to the State of Queensland provides exceptional cash flow security until 2021. 
“This asset is unique to any other CBD offering currently on the market as it provides a combination of secure income from a government tenant and considerable potential for future upside. 
According to Mr Lynch opportunities to acquire major assets with WALE in excess of five years such as 41 George Street will be rare for the next several years due to the current CBD market being so tightly held by long term investors.
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