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 Property

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Hotels are hot property for investors at the moment, outperforming all other property classes in Australia, says a recent report by Savills.
With international and domestic visitors growing 11.5 percent and 5 percent respectively in CY 2016, the hotel industry has not seen growth at this level since the Sydney 2000 Olympics, according to Savills Australia’s Hotels market report. 
Sydney and Melbourne are the standout performers, with their strong market KPI’s against a backdrop of compressing yields.
Chinese tourists take the lead in international visitors, growing at 22 percent, helped by more flights between the two countries and a relatively low Australian dollar making the country a more affordable destination, says Michael Simpson, Savills managing director of Hotels. 
“In a very positive sign for the depth of the market, the outstanding international inbound growth has been experienced across a wide range of markets, with inbound visitor growth from many established Asian markets, as well as the US, above 15 percent,” said Simpson.
In further proof of the strength of the market, Tourism Research Australia’s 10-year forecast expects international visitor nights and domestic visitor nights to grow at 5.6 percent and 3.1 percent annually respectively. Australia can expect to see increased room night demand nationally for the foreseeable future.
The Australia-wide market achieved a ‘revenue per available room’ (RevPAR) for CY 2016 of $139, which represented YOY growth of 2.2 percent.
All Australian cities posted RevPAR growth except Perth, Brisbane and Darwin with RevPAR declining in those cities by 9.3 percent, 8.7 percent and 9.6 percent respectively. The decline in performance of these markets is primarily due to the impact of the end of Australia’s resource boom, and rise in room supply.
For the remaining markets, Savills says growth in market KPI’s can be attributed to an increase in leisure demand from domestic and international markets, stimulated by a lower Australian dollar and stronger economic activity underpinned by construction and infrastructure projects.
<a href="https://www.propertyobserver.com.au/images/2017/03/28/SavillsHotels.png" target="_blank">Click to enlarge</a>
<img src="https://www.urban.com.au/images/2017/03/28/SavillsHotels.png" alt="">
China is the engine room for visitor night growth in Australia right now, says Simpson. 
Australia received more than 7.4 million international visitors (up 11.5 percent) and 251 million international visitor nights (up 3.8 percent) for the year ended September 30, 2016.
Tourism Research Australia recently released international visitor numbers for CY 2016 which totalled 8.3 million, representing a healthy year-on-year (YOY) growth of 11 percent. 
The New Zealand market continues to contribute the highest number of visitors to Australia. However, the China visitor market recorded YOY growth of 21.9 percent, enabling it to exceed 1 million visitors, who more importantly spend an average of 40 nights in Australia when touring Down Under. 
As a result, China produced 43 million room nights representing almost three times the volume produced by New Zealand. The Chinese visitors also tend to spend more per capita compared to other visitors.
<a href="https://www.propertyobserver.com.au/images/2017/03/28/SavillsHotelDeals.png" target="_blank">Click to enlarge</a>
<img src="https://www.urban.com.au/images/2017/03/28/SavillsHotelDeals.png" alt="">
Simpson went on to say that Sydney’s strong performance is set to continue with occupancies reaching capacity during peak holiday and corporate activity periods, providing the opportunity for hoteliers to grow ADR.
“Sydney’s Luxury segment capitalised on the strength of the market achieving an occupancy of 85.9%, and ADR of $339 (up 7 percent), delivering a RevPAR of $291 (up 5.7 percent), which exceeded Melbourne’s Luxury segment RevPAR of $271.
“The key factors underpinning Sydney’s current and expected future performance are a combination of buoyant economic metrics, strength in banking, finance, insurance, professional services and construction/ infrastructure projects, which are collectively fuelling a tsunami of economic activity and room night demand in Sydney.
“For the next 10 years, Sydney occupancy will remain in the 80th percentile,” said Simpson.
Melbourne was the second highest performing market in CY 2016 with an increase in occupancy for the fourth consecutive year. Conversely, Average Daily Rate (ADR) declined marginally, suggesting that while occupancy remained strong, hoteliers were unable to grow rate during non-peak periods. As a result RevPAR remained relatively stable in CY 2016, when compared to CY 2015.
Simpson said the inability to significantly grow ADR in CY 2016 is also demonstrated by Melbourne’s Luxury segment which reflected steady YOY market KPI’s, achieving an occupancy of 89.5 percent, ADR of $302 and delivering a static RevPAR of $271.
“Melbourne’s construction boom of residential apartments, commercial space and continuing development of Docklands, has also encompassed new hotel development,” he said.
“Despite the strength and enduring nature of Melbourne’s events calendar and symbiotic corporate activity Melbourne enjoys with Sydney, we anticipate that Melbourne market KPI’s will be under pressure to match Sydney’s performance in coming years given the relative challenge of delivering new supply in Sydney.” 
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Hotels become Australia’s highest returning real estate asset class: Savills 

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A former linen warehouse converted into a house at South Melbourne has been sold.
The home at <a href="https://www.realestate.com.au/sold/property-house-vic-south+melbourne-124571470" target="_blank">251-255 Moray Street</a>, Irish Linen House sits on two titles of over 340 sqm of land.
It was amalgamated in two acquisitions - $1.8 million in 2007 and then $552,000 in 2012.
No latest sale price has been given, but $4.5 million plus was tipped.
Retaining its rich period personality it has a modern design that offers either a unique lifestyle, investment or even redevelopment possibilities.
Title one, consisting of Number 251, is a two bedroom townhouse with a zoned open plan living and dining spaces with gas period style open fire.
The other title, Number 253, is a 158 sqm office that has a large reception, two meeting rooms, a large open plan office with kitchenette along with bathroom and landscaped courtyard.
Number 255 is a former warehouse thar has been converted into a residence.
The one bedroom property with exposed original brickwork and timber floors comes with a home office, two open plan living and dining areas alongside a kitchen.
The property was offered through Abercomby’s Real Estate agents Jock Langley and Sam Goddard.
 
 
 
 
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jchancellor-FAypfDUnLy

South Melbourne historic property, Irish Linen House, sold

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GUEST OBSERVER
Market activity in commercial and industrial real estate can be assessed under two types of market interest.
Owner-occupiers are strong at the affordable end of the market as business operators well understand that it is preferable to own rather than rent the properties they use or need for their businesses.
For many business owners it is much more effective to own rather than rent their premises, especially with the prevailing low interest rates.
It is also quite common to see the property purchased at auction held in the name of a superannuation fund where it is leased back to the operating business at often for an attractive return.
The second strong area of interest is from investors with self managed superannuation funds.
For a lot of SMSF investors a commercial property provides a diversification and they are regularly being advised by their accountants or specialist advisers to acquire a commercial investment.
Certainly the return is usually better than a residential investment because a commercial property that is well and securely leased provides a more reliable income stream than almost any other type of property investment.
I always say that in investing in any type of property the purchaser needs to know and understand the key market fundamentals.
This includes factors like market liquidity, add on costs like State Land Tax and the transaction costs of stamp duties, legals, agency or management fees and transaction costs as both a buyer and as a potential seller.
Often my engagement may involve trying to right the wrongs caused by poor leasing advice and structure to rectify a property’s optimum lease structure.
For instance, I am currently appointed by the Melbourne Theosophical Society to manage the proposed sale of their long held historic building at 126-128 Russell Street.
A landmark four level building in part occupied by the Society it has multiple tenancies and is currently generating an annual rental income of around $350,000.
My expectation is that 126-128 Russell Street will be offered to the market before the end of the current financial year and given the shortage of key CBD freeholds on offer it is likely to be keenly bid.
David O’Callaghan is the managing director of O’Callaghan Commercial and can be contacted <a href="https://www.ocallcommercial.com.au" target="_blank">here</a>. 
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Understanding commercial market fundamentals: David O’Callaghan

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A fully-functioning, owner-operated hotel in the western sector of Melbourne’s CBD has been listed for sale, a welcome move in a market desperate for hotel properties as the city’s hotel occupancy rates hits all-time highs, according to Savills.
Flagstaff City Inn Hotel at 45 Dudley Street is on the market with expectations of more than $18 million. 
The property is being sold on a ‘walk-in, walk-out’ basis with expressions of interest closing April 11.
The hotel makes an income of nearly $1.3 million per annum, and presents the new owner as either a running lucrative hotel business or one with redevelopment play, according to Savills agents Clinton Baxter, Benson Zhou and Jesse Radisich, who are marketing the property.
The two-level hotel contains 42 hotel suites, a restaurant and conference facilities. It occupies 1,304 sqm and is a mixed-use zone.
Located a short walk from Flagstaff Gardens, the property has strong redevelopment potential, judging from the success of a 38-level tower development next door.
"This property has extraordinary potential as an already strongly trading going concern in a hotel market which is in the midst of a severe shortage of stock and a consequent spike in occupancy and room rates,” said Baxter.
"The property‘s potential for redevelopment is perhaps even more exciting given the zoning and the resounding success of other development ventures in this precinct.’’
The record tourism driven hotel sector has seen occupancy rates of near 90 per cent in Melbourne and, with forecasts of further growth in tourism, any investment opportunities which come to the market are much sought after, according to Savills.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/03/21/44-55%20Dudley%20St%20aerial.jpg" alt="">
Zhou said the hotel’s close proximity to Melbourne University and Australia’s largest medical precinct, RMIT and the new Halleybury College Campus, would continue to provide a strong catchment for the hotel and likely underpin the viability of any future use, particularly residential use, of the property.
Future development for the site could include high density residential and retail, commercial, student accommodation and hotel uses, added Radisich.
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j.ballantyne1990-6AQqhLzZaK

Melbourne's Flagstaff City Inn expected to fetch upwards of $18 million: Savills

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Coffee retailer Workshop Brothers will open its second Melbourne CBD store, this one on Collins Street.
They have signed a seven-year lease for an 18sqm hole-in-the-wall at 410 Collins Street, is opposite the Mitre Tavern.
The space was previously used as  China Construction Bank’s storage facility.
Tan Thach from CBRE’s  negotiated at $60,000 per annum and said Workshop Brothers were looking for trendy locations to branch out from flagship stores and increase their brand presence.
“Switch Board Cafe occupies a switchboard cupboard in the Manchester Unity building, Saluministi has secured a former car park ticket office on Flinders Lane and Black Velvet Espresso is operating its business tucked on the side of the136 Exhibition Street foyer," he said.
"There were still many cafe operators looking for miniature spaces in the tightly held Melbourne CBD retail market that provide an attractive price point for tenants, yet offer a higher rate per square metre for landlords.
“Due to the low vacancy rate and high demand from retailers in recent years, landlords are being creative with their properties, transforming unexpected locations into useable retail spaces,” Mr Thach said.
Josh Rutman, CBRE’s director of city sales said with yields currently sitting at record lows, slight increases in income can have a wide-ranging impact on capital values. In this instance the increase could be over $1 million in value.
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Coffee retailer Workshop Brothers signs Collins Street lease

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BRW Rich Lister Lloyd Williams has $120 million hopes for a property that includes one of Melbourne CBD's biggest car parks.
The 16-level property at 114 Flinders Street, at the city's east end, has five ground-level retail tenancies with 1200 car bays.
Topping the tower are six levels of office space, overlooking Flinders Street and the Yarra River, Fairfax Media note.
Agents from CBRE along with Knight Frank's Martin O'Sullivan and Paul Henley say the Hudson Conway-owned car park benefits enormously from servicing strong demand from commercial office users as well as being the core car park for weekend diners and visitors to the MCG, Melbourne Park and AAMI Park.
Around six months ago one of Singapore's largest property developers, Wing Tai, acquired a seven-level car park further along Flinders Street for more than $31 million on a tight investment yield of about 3 per cent, with the listed Singaporean group paying about $100,000 per bay.
Dexus Property Group has received planning approval for a $300 million high-rise apartment project on a car park it owns on Flinders Street.
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Lloyd Williams lists Flinders Street, Melbourne carpark

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Three mixed use / residential development sites have been listed in the newly developed residential precinct of Woden Green Estate, Canberra.
The precinct is located within Woden town centre, 8 kilometres south of Canberra’s CBD.
The three sites, totalling 14,996 square metres, are being marketed by CBRE’s Andrew Stewart and Mark Nicholls on behalf of Hindmarsh with the option to purchase individually or in one-line.
The first development site for sale totals 1,712 square metres and has a Medium Density Residential zoning.
The second and third sites are both located in Business zoning and are 6,063 square metres and 7,221 square metres respectively.
Stewart said the three development sites represented an investment opportunity considering the state government’s commitment to reviving Woden and preparing the town for anticipated population growth.
The expression of interest campaign closes Thursday April 20 at 4pm.
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Triple development offering in Woden, ACT

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A South Melbourne office building has been listed with price expectations of $18 million plus.
The <a href="https://www.realcommercial.com.au/property-offices-vic-south+melbourne-502336386" target="_blank">31 Market Street, South Melbourne</a> property comprises a fully leased, three level, building with undercover parking for 41 cars.
It has a weighted average lease expiry (WALE) of four and a half years to a range of ASX listed, national, and government funded tenants, returning $1,055,000 per annum.
The 2565 square metre building sits on an 1150 square metre site with the corner situation has been recently refurbished.
The property is being marketed by Clinton Baxter, Nick Peden and Benson Zhou of Savills in conjunction with Danny Clark, Andrew Hansen and George Burbury of Knight Frank.
Baxter said fringe properties were now very much on the agenda of investors as opportunities in CBDs dried up.
A record $1.39 billion was spent on Melbourne fringe property in 2016, up 31% over the previous year, with yields at an average 6.63% compared to CBD yields at 5.75%, according to Savills Research.
Foreign investors dominated sales with 84% of purchases.
“CBD investment markets have been hot over the last four years and inevitably that has led to a shortage of stock and record low yields,’’ Baxter said.
“At the same time a pick-up in CBD leasing has seen vacancy tighten and rents rise.”
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South Melbourne office listed with $18 million plus hopes

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The newly constructed CQUniversity Building in Townsville’s CBD has sold for $12.8 million.
CQUniversity (CQUni), which is seeking to expand its Townsville footprint, commissioned Queensland developers Honeycombes to design and develop a multi-functional 2,592 square metre education facility on the CBD site.
The three-level building is located within the commercial precinct of Honeycombes’ $450 million Central development located in Townsville’s CBD.
The project was the first to be approved and completed in Townsville’s 97 hectare Waterfront Priority Development Area, which will include the city’s new $250 million sports stadium and entertainment centre.
The building accommodates between 150 and 200 students at any time and comprises a ground-level foyer and library area topped by state-of-the-art education facilities on the two upper levels.
It was designed to cater for increased student enrolments at the university with about 1,000 students expected to be using the facility by the end of the year.
CQUni’s 15-year lease has three 10-year options and returns an annual net income of more than $855,000, delivering a 6.7% yield for the purchaser.
“Since opening the new campus building, the feedback from students has been fantastic and they’re absolutely thrilled with the new space,” CQUniversity Townsville and North West Queensland associate vice-chancellor Kari Arbouin said.
 “The CBD location is very much a drawcard.”
Honeycombes Property Group managing director Peter Honeycombe (pictured below) said the building design not only took into consideration the CQUni requirements, but also contemplated future uses beyond the 15-year lease.
“It was important for us that conversion of the building back into a regular office building was possible and feasible,” Honeycombe said.
“The CQUniversity Building was one of the few construction projects under way in Townsville over the past few months.
“We’re also thrilled to have been able to deliver a much needed, state-of-the-art education facility for CQUni in the CBD as part of their expansion.”
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/03/17/Peter%20Honeycombe.jpg" alt="">
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Newly constructed CQUniversity building in Townsville sold for $12.8m

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A corner freehold property with three street frontages in Melbourne’s south-east suburb of Chelsea has been listed for sale.
Located at <a href="https://www.commercialrealestate.com.au/property/318-320-station-street-chelsea-vic-3196-2013431713" target="_blank">318-320 Station Street</a> on the corner of Chelsea Road, the property is opposite the Chelsea railway station in the heart of the commercial/retail precinct and is expected to fetch more than $2 million.
The property comprises a two level, 938 square metre commercial building recently occupied as a child’s play centre, on an 808 square metre site. The property also includes a corner retail shop.
The property is zoned Commercial 1, with 26 metres frontage to Station Street, 30 metres to Chelsea Road and additional frontage to Chelsea Lane at the rear.
According to marketing agents, Teska Carson’s Matthew Feld and Larry Takis and Moss Property’s, James Moss, Commercial 1 the property is on the market for the first time in 25 years and would be sold subject to two short term leases, currently returning $46,380 per annum.
"This is a fantastic beachside location which has seen significant growth in recent years with a wide variety of commercial and residential development within close proximity,’’ Feld said. 
“The location also benefits from excellent public transport, easy access via major arterial routes, and close proximity to all essential amenities.”
The property will be sold by an expression of interest campaign, closing Wednesday, April 5 at 3pm.
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