Melbourne developer Spacious Group has completed Voyage Altona, one of the closest new apartment developments to Altona Beach.

Off the plan purchasers have started moving into the 49-apartment project on Pier Street, with the remaining move-in-ready one-, two- and three-bedroom apartments starting from just over $500,000.

Display apartments have now been fitted out, allowing prospective buyers to inspect the completed residences by appointment.

[smartcode_project:default project_id=112195 project_image_fid=372638]

The completed apartments feature open-plan living and dining areas which extend onto private balconies and terraces, while full-height glazing maximises natural light throughout the interiors.&nbsp;

Hybrid timber-look flooring, stone benchtops, Miele appliances, porcelain-tiled bathrooms and generous storage feature throughout the building which also features landscaped communal areas, expansive shared terraces, lift access and secure on-grade parking.

Drawing inspiration from its bayside setting, Voyage adopts a restrained palette of warm neutral tones and textured finishes. Many of the apartments take advantage of views across Port Phillip Bay, while the indoor-outdoor living spaces have been designed to make the most of the coastal outlook.

[smartcode_project:default project_id=112195 project_image_fid=3286]

Voyage was developed to address what Spacious Group identified as an undersupply of higher-quality apartment product in Altona, with a focus on owner-occupiers looking to remain within the bayside community.

"Voyage responds to very strong local buyer demand for quality, owner-occupier-focused product," says Barry Plant Projects Director Jarrod Farey, who has handled sales since the project's launch.

"The project delivers an elevated lifestyle proposition, with its design and quality of finish far exceeding anything previously produced in the area, as well as its proximity to Pier Street Village and the beach."

The majority of purchasers have been local downsizers and owner-occupiers looking to stay within the Altona community but who previously had limited opportunities to buy a brand-new apartment.

[smartcode_project_cta:default project_id=112195]

Joel Robinson

Spacious Group completes Voyage Altona in Altona's beachside precinct

Homecorp has secured approval for a $360 million apartment development at Budds Beach, paving the way for one of the Gold Coast's most amenity-rich residential projects to launch later this year.

Gold Coast City Council has approved Lýon Residences, a 32-level tower that will deliver 178 two and three-bedroom apartments across a prominent corner site at 8-10 Acacia Avenue and 25-27 Oak Avenue.

The approval comes as developers continue to invest in premium lifestyle-driven apartment projects on the Gold Coast, where owner occupiers are increasingly prioritising amenity as much as apartment size and location.

<a href="https://www.apartments.com.au/new-apartments/l-on-residences-25-27-oak-avenue-surfers-paradise-qld-4217">Lýon Residences</a> has been designed around a resort-style wellness offering, headlined by a Moroccan-inspired spa precinct featuring treatment rooms, a Nordic sauna and steam room, hot and cold plunge pools, a soaking pool and a residents-only juice bar.

The rooftop will include a heated infinity pool and spa, residents' lounge with private kitchen and bar, gymnasium, yoga and Pilates studio, outdoor entertaining areas and barbecue facilities overlooking the Surfers Paradise skyline.

<img alt="Lyon" data-entity-type="file" data-entity-uuid="2d3e29af-8793-486e-a684-52cef862241f" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-07-15%20at%204.32.26%E2%80%AFPM.png?VersionId=ayG2zpLf3SS6Zy8XmKDcQods4kVWb0gm" />

Homecorp Founder and CEO Ron Bakir said Budds Beach provided the ideal location for the company's latest luxury apartment project.

"Budds Beach represents one of the most unique and sought-after pockets of the Gold Coast, and Lýon Residences has been designed to reflect that sense of rarity and refinement," Bakir said.

The project arrives as wellness continues to become a defining feature of new residential developments both in Australia and internationally.

The latest Global Wellness Institute figures show wellness real estate remains the fastest-growing segment of the global wellness economy and is forecast to exceed $1.8 trillion by 2030. Australia continues to rank among the world's 15 largest wellness real estate markets, with developers increasingly integrating health, recreation and community facilities into apartment projects.

Queensland is also experiencing strong population growth, with the Gold Coast continuing to outperform many other Australian cities as demand for new housing remains elevated ahead of the 2032 Olympic and Paralympic Games.

Bakir said the project had been designed to respond to that shift in buyer expectations.

"Strong population growth and sustained demand across the Gold Coast continue to highlight the need for well-designed new housing supply. Lýon Residences responds directly to this demand while setting a new benchmark for residential living," he said.

Each apartment has been designed to maximise views across the coastline, the Nerang River and the Gold Coast hinterland.

Located just minutes from Surfers Paradise beach and the Broadwater, the development also offers easy access to the light rail network, Broadbeach and Burleigh Heads.

Early site works are underway, with construction expected to commence later this year.

Homecorp approved for Budds Beach apartment tower, Lýon Residences

New apartment developments with uninterrupted, north-facing views over Perth's Swan River are exceptionally rare.

Recognising just how limited those opportunities are, <a href="https://www.apartments.com.au/developers/edge-visionary-living">Edge Visionary Living</a>, one of Perth's most respected builder-developers, targeted <a href="https://www.apartments.com.au/developments/applecross-wa-6153">Applecross</a>, assembling an unrepeatable 6,342 sqm riverfront site on the corner of Moreau Mews and Canning Beach Road to create one of Perth's only new north-facing apartment developments directly overlooking the Swan River.

Today, <a href="https://www.apartments.com.au/buildings/riviere-residences-applecross-59-canning-beach-road-applecross-wa-6153">Rivière Residences</a> offers buyers a unique opportunity to choose between completed residences ready to move into now and off-the-plan homes in the final stage, Rivière West.

[smartcode_project:default project_id=28384 project_image_fid=3823]

Across the completed East and Central buildings, residents are already enjoying the development's luxury amenity, while two of the precinct's hospitality venues are now open.

The completed component of the development gives buyers the advantage of experiencing the finished product firsthand, including its uninterrupted river views, while still having the opportunity to secure a residence in the final stage.

"People are wowed by the view and the quality of the apartments,"&nbsp;Edge Visionary Living Sales Executive, Holly McSweeney, says.

"They're looking for the convenience of lock-and-leave living, but they're not looking to downsize on quality."

[smartcode_project:default project_id=28384 project_image_fid=3826]

The rarity of the development hasn't been lost on prospective buyers, McSweeney says.

For McSweeney, it all comes back to a location that is becoming increasingly difficult to replicate.

"Location, location, location," she says. "We are nestled right on the front of the Swan River. You can never get built out, so wherever you are in Rivière Residences, you've got views of the river forever."

The unique waterfront position has resonated particularly strongly with local downsizers. McSweeney says many buyers are long-time Applecross residents looking to transition from large family homes into a luxury apartment without sacrificing space, quality or the lifestyle they've enjoyed for decades.

<iframe allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" allowfullscreen="" frameborder="0" height="315" referrerpolicy="strict-origin-when-cross-origin" src="https://www.youtube.com/embed/N_FowNW0wu8?si=vb25XFq1wZ-iufAW" title="YouTube video player" width="560"></iframe>

A major focus for Edge in recent years has been resident amenity. Across its apartment portfolio, from beachfront developments in Scarborough to luxury towers in South Perth, the developer has increasingly invested in the spaces beyond the apartment itself.

The strategy has largely been shaped by downsizer demand. Many buyers are moving from large family homes with swimming pools and established gardens. While they're looking to leave the maintenance behind, they don't want to compromise on lifestyle.

At Rivière, <a href="https://www.apartments.com.au/architects/hillam-architects">Hillam Architects</a> designed the resident facilities as an extension of each apartment. A 25-metre heated swimming pool takes advantage of the north-facing river outlook, complemented by a large gym, sauna and steam rooms, private dining spaces, residents' lounges, a cinema, games room, and dedicated wine and whisky rooms.

[smartcode_project:default project_id=28384 project_image_fid=372542]

The waterfront location has also proved to be a major drawcard. Residents are within walking distance of the Raffles Hotel, South of Perth Yacht Club, the Heathcote Cultural Precinct and the cafés, restaurants and boutiques along Ardross Street.

Beyond the location and amenity, McSweeney says many buyers take confidence from Edge's fully integrated development model.

Having delivered apartments across Perth for decades, Edge now designs, develops and constructs its projects in-house, giving the company greater control over quality, delivery and the finished product.

"What I love is when people walk through their apartment for the first time and say, 'This is better than what we imagined,'" McSweeney says. "We hear that all the time."

Completed apartments in the East and Central buildings are now available to inspect by appointment, while Rivière West, the final stage of the precinct, is expected to be completed in the first quarter of 2027.

[smartcode_project_cta:default project_id=28384]

North-facing Swan River views drive demand at Rivière Residences in Applecross

Nearly 60 per cent of apartments at McNab Group's $220 million The Tannery development in Brisbane's West End have sold ahead of the project's public launch, including a suburb-record $2.57 million sale for a two-bedroom apartment.

The early sales campaign has secured buyers for 50 of the project's 87 apartments, highlighting continued demand for larger owner-occupier apartments that combine generous floorplans with premium lifestyle amenities in one of Brisbane's most tightly held inner-city suburbs.

[smartcode_project:default project_id=143337 project_image_fid=374768]

McNab Group Executive Chairman Michael McNab said selling more than half the project before launch reflected changing buyer expectations.

"Selling more than half the project before public sales open tells us buyers are actively seeking apartments that offer something genuinely different," McNab said.

"Today's buyers are looking beyond four walls. They want homes that genuinely enhance the way they live, with spaces that support health, connection and everyday wellbeing."

[smartcode_project:default project_id=143337 project_image_fid=374767]

A key point of difference for the project is the adaptive reuse of the heritage-listed Dixon's Tannery building, which will become The Retreat, a residents-only wellness precinct rather than being redeveloped into additional apartments.

The Retreat will feature a sauna and steam room, hot and cold plunge pools, a commercial-grade gym, Pilates studio, cinema, library, co-working spaces and private dining room. Rooftop amenities will include a swimming pool, landscaped gardens, outdoor entertaining areas and dog-friendly spaces.

[smartcode_project:default project_id=143337 project_image_fid=374760]

Designed by Cottee Parker Architects with interiors by Tom Mark Henry and landscape architecture by Aspect Studios, The Tannery comprises 87 two, three and four-bedroom apartments across 11 levels overlooking the Brisbane River.

Cottee Parker principal Dee Passenger said preserving the original tannery building had been central to the project's design.

"The easy option would have been to maximise the site's development potential with additional apartments. Instead, McNab has chosen to preserve the original tannery as a shared wellness retreat, ensuring this important piece of Brisbane's history remains at the heart of the community."

Passenger said sustainability also played a key role in the design, with materials from the original industrial site salvaged and repurposed throughout the development.

[smartcode_project:default project_id=143337 project_image_fid=374761]

Motiv CEO Carly Cottam said buyers had responded strongly to the combination of larger apartments, wellness facilities and the West End lifestyle.

"We are seeing more buyers looking for homes in the sky that provide the space and functionality of a traditional home, while benefiting from the convenience and lifestyle that apartment living brings," Cottam said.

She said purchasers included both owner occupiers and investors, with demand coming from local buyers as well as interstate purchasers.

Coinciding with the public launch, McNab also announced a partnership with Queensland Ballet, whose neighbouring Thomas Dixon Centre shares historical ties with the original Dixon family.

Located on a 4,465 sqm site at 439 Montague Road, The Tannery overlooks the Brisbane River and is around 10 minutes from the CBD.

Construction is underway, with completion expected in the second half of 2027.

[smartcode_project_cta:default project_id=143337]

More than half of residences sold before public sales as McNab announces significant partnership with Queensland Ballet

McNab's The Tannery nears 60 per cent sold before public release, sets two-bedroom West End record

Iwan Sunito's vision for a landmark mixed-use precinct in Sydney's Inner West has taken a major step forward, with approval granted for the $1.9 billion Five Dock development first unveiled earlier this year.

The approved scheme by <a href="https://www.apartments.com.au/developers/one-global-capital">One Global Capital</a> will deliver an 80,500 sqm mixed-use precinct comprising 840 apartments, integrated hotel accommodation, commercial and retail space, alongside publicly accessible open space designed to create a new destination for the growing suburb.

"This is a significant milestone for One Global Capital and for the future of housing delivery in Sydney," Sunito said.

"The Housing Delivery Authority was established to identify major housing projects capable of delivering meaningful supply more efficiently, and we are delighted that Spencer Street has been recognised as one of those projects.”

He said the declaration reflected the rapid progress achieved since acquiring control of the site.

"In less than seven months we have progressed from taking control of the site to securing entry into one of the NSW Government's most important planning pathways. It reflects the experience of our team, the strength of our consultant group led by Urbis, and our long-term commitment to delivering transformational projects that contribute to Sydney's future."

When the project was revealed earlier this year, Sunito described the opportunity as one of the strongest development sites he had worked on.

"I probably hadn't appreciated the uniqueness of the site until more recently when putting together the concept plans," Sunito said.

"The proximity to the water, and the golf course opposite, is unlike any other part of Parramatta Road. We have a unique position and view corridors over the water that makes this one of the best sites I've worked on."

The development has evolved since its initial announcement, with the approved plans increasing the residential component from the originally proposed 750 apartments to 840 homes while retaining the project's focus on creating an integrated neighbourhood rather than a standalone residential development.

Read more:&nbsp;<a href="https://www.apartments.com.au/news/nsw/a-city-within-a-city-iwan-sunito-flags-1-5-billion-mixed-use-precinct-in-five-dock">"A city within a city": Iwan Sunito flags $1.5 billion mixed-use precinct in Five Dock</a>

The precinct will combine apartments with hotel accommodation, commercial workplaces, retail offerings and public spaces, creating a mixed-use environment intended to serve both residents and the broader Five Dock community. The proposal also continues the collaboration between One Global Capital and internationally recognised architect <a href="https://www.apartments.com.au/architects/koichi-takada-architects">Koichi Takada</a>, whose previous work with Sunito includes Infinity, Arc and Skye North Sydney.

Takada previously said the design was driven by a philosophy of integrating nature into the built environment.

"The concept for this development is born from our design approach to naturalising architecture," Takada said.

"The public realm benefits from biophilic design that integrates generous landscaping, and the development is optimised for natural daylight, airflow and water views to foster wellbeing, sustainability and spaces that foster community interaction."

Sunito has consistently described the project as a "city within a city", with a strong emphasis on creating a destination that extends beyond housing.

"We want to create a development that's not only to be seen, but to be experienced by the whole local community," he said.

The approval comes as Five Dock continues its transformation ahead of the opening of the Sydney Metro West line, with the new Five Dock station set to significantly improve connections between the Inner West, Parramatta and the Sydney CBD.&nbsp;

The precinct will also benefit from its proximity to the Parramatta Road corridor, nearby waterfront parklands and established retail and dining offerings that have made Five Dock one of Sydney's most tightly held Inner West suburbs.

Iwan Sunito secures approval for $1.9 billion Five Dock mixed-use precinct

Commercial Property

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A $2 shop has agreed terms on the lease of a large retail space in the heart of the Moonee Ponds retail precinct in Melbourne’s inner northern suburbs.
Teska Carson’s Luke Bisset, who brokered the 13-15 Puckle Street deal with Fergus Evans, said the 624 square metre premises was let at $113,000 per annum net on a five year term with options.
Mr Bisset said the tenant was attracted to the spacious tenancy, the high ceilings, the extensive street frontage and the high volume of foot traffic in one of Melbourne’ s most famous shopping precincts.
"This was a great opportunity to get a foothold in one of the best shopping strips in Melbourne and at a very affordable rental.
The size of the floorspace and the exposure to Puckle Street were the key attributes the tenant was looking for,’’ Mr Bisset said.
He said the Puckle Street address had predictably attracted a high level of enquiry.
The lessor is a Melbourne based private investor.
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j.ballantyne1990-6AQqhLzZaK

$2 shop takes spacious Puckle Street lease

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Two properties in Melbourne’s inner suburb of Clifton Hill have sold for a total of $4.5 million in deals brokered by Savills.
According to Savills Australia CBD &amp; Metropolitan sales team, Julian Heatherich, Nick Peden, and Jesse Radisich, the sales reflected the increasing demand for inner city locations such as Clifton Hill, according to the selling agents.
The properties comprise 3 Hilton Street - a 205 square metre, office/warehouse with roller door access – which sold for $900,000, and 10 Reeves Street - an 884 square metre showroom/warehouse on an 1,175 square metre site – which sold for $3.6 million.
"The market for inner-city property has rarely been stronger and Clifton Hill is now clearly on the radar as it offers very close proximity to the CBD, the Eastern Freeway, and trams and train services," said Heatherich.
"The local area which includes Brunswick, Lygon and Smith streets and Queens Parade has also been very popular with both residential and commercial users over several decades with property values appreciating accordingly.’’ 
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Two commercial properties in inner Melbourne sold through Savills

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The industrial and logistics sector has emerged as the surprise performer of Australia’s commercial property market, with rental growth and projected growth in 2017 making investors confident about the sector, according to commercial real estate firm CBRE.
Strong levels of consumption and investment spending is supporting goods demand in major markets across the country, providing a strong basis for rental growth in 2017, says CBRE’s Industrial and Logistics, Q4 2016, MarketView report.
In the final three months of 2016, the industrial and logistics sector recorded positive quarterly rental growth of 0.5 percent nationally, underpinned by strong gains in Sydney, it said. 
The figures point to the beginning of a growth period for the sector, said CBRE’s senior managing director, Industrial &amp; Logistics, Pacific, Matt Haddon.
“The tide has turned, with the latest quarterly rental growth and projected growth in 2017 injecting confidence into the sector, which, despite mixed economic conditions, has continued to succeed,” Haddon said. 
“It’s well documented that the manufacturing sector is declining – and has been for years. Gains in consumption and investment spending are where our focus needs to lie, with this sector of the market driving future occupier demand growth.” 
Reduced supply in 2016 is also expected to stimulate rental growth, with just 433,000 sqm released in the December quarter – 34% lower when compared to the same period in 2015, the report says.
In terms of deals, Victoria recorded its strongest year on record in 2016, with $1.92 billion in assets changing hands – representing a 15% increase from 2015. 
The report shows $394 million in property transactions during the last three months of 2016 helped propel the Victorian market to its strongest position on record. 
CBRE senior research manager Kate Bailey said a number of high quality assets and portfolio sales had underpinned strong transaction activity in Melbourne. 
“In 2016, there was an imbalance of available premium assets and large scale opportunities to meet demand in most locations across the country – with the possible exception of Melbourne,” Bailey said. 
“Similar drivers were responsible for a slowdown in offshore investment, with portfolio sales the key driver of foreign investment in 2016.” 
Nationally, $4.831 billion in industrial &amp; logistics assets changed hands during 2016 – marginally down from a record $5.267 billion in 2015, due to the available stock shortfall.
New South Wales recorded $1.559 billion for the year, followed by Queensland with $537.67 million, $617.2 million in Perth, $146.05 million in South Australia and $31.25 million in the ACT. 
“Global capital remains highly focused on this strongly performing segment of the commercial market,” Haddon said. 
Haddon said further compression of yields in major markets during 2016 indicated that investors were anticipating both occupier demand and rental growth in the sector. 
In Q4, super prime average yields compressed a further 10 basis points to reach record lows of 6.9% nationally, driven by a low of 6.0 percent in Melbourne, 6.1 percent in Sydney and 6.5 percent in Brisbane.
Haddon said current market conditions pointed to a strong year for the market. 
“Current activity levels suggest that an increased number of opportunities will be available for investors in the first quarter of 2017, compared to the same period 12 months ago.” 
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Industrial, logistics surprise performers in Australia's commercial property market: CBRE

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The major refurbishment of several office buildings in the Canberra CBD over the past couple of years has attracted several high calibre tenants to the area, and another building is hoping to benefit from the trend.
The refurbishment of 17 Moore Street, owned by CorVal, will be completed in the coming months.
Benn Vicic, senior asset manager at CorVal said they worked closely with architects Peckvonhartel on the building’s core design upgrades to improve tenant amenity.
The program includes refurbishment of the façade and entrance point, as well as upgrades to upper floor lift lobbies and bathrooms.
Tenancy area upgrades include new carpet, ceilings and LED lighting, which will significantly reduce tenancy occupancy costs, Vicic said.
“We believe property owners have an obligation to limit the environmental impact of their investments and this fundamental belief has driven the sustainability upgrades at 17 Moore Street,” he said.
“In 2016, we started works on a BMS tuning and retro commission program, culminating in an extensive 211 panel, 56 kilowatt solar photovoltaic system which resulted in the building achieving a 5-star NABERS Energy rating.
“Once fully leased, the systems have the capacity to achieve 5.5-stars, which if achieved will make 17 Moore Street the first pre-existing building in Canberra to reach this level.”
<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/2017/02/23/160728%20-%2017%20Moore%20-%20V02%20-%20Lobby%20-%20Final%202000.jpg" alt="">
Located on the corner of Barry Drive and Moore Street in Civic, 17 Moore Street has 5,750 square metres of office space available to lease across six levels with 65 secure basement car spaces.
The floor plates of approximately 1,000 square metres is suitable for a variety of fitout designs and working environments.
Colliers International and Raine and Horne Commercial are the appointed leasing agents.
Michael Ceacis, director of office leasing at Colliers International, said:
“17 Moore Street is the only refurbished office building in Canberra CBD that has achieved a 5-star NABERS Energy rating.
“We know that many tenants seeking office accommodation in the City are looking for modern and energy efficient space, and with the refurbishment works at 17 Moore Street nearing completion, it will be an attractive option for all tenant types.
“This landmark structure will embody modern design and the latest environmental technology, resulting in the highest standards of workplace collaboration and energy efficiency.”
Nick Cotis, director of operations at Raine &amp; Horne Commercial said all works at 17 Moore Street were anticipated to be completed in May.
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Canberra's 17 Moore Street sets sights on top tenants with eco-friendly makeover

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A Melbourne based developer has paid $3 million for a Moonee Ponds site with a permit for a mixed use development.
The 841 square metre site at 21-23 Norwood Crescent property is zoned Activity Centre Zone1 and was sold at a land rate of $3567 a square metre. The private sale was brokered by Savills' Jesse Radisich and Julian Heatherich.
Radisich said the property has a permit for 19 apartments and ground floor commercial space and had attracted strong interest from developers. 
"The property generated considerable interest with more than 65 individual enquiries from a wide range of local and off-shore developers, and that reflected the strength of not only the Moonee Ponds market, but the northern suburbs in general,” he said.
<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/2017/02/28/21-23%20Norwood%20Cres%20markup.jpg" alt="">
The property is located close to Moonee Ponds Central Shopping Centre, public transport and schools.
Heatherich said the area was undergoing rapid growth with apartment development sites keenly sought after.
"Moonee Ponds has long been a popular centre and it continues to attract new residents looking for a home in an area which offers all essential amenities within close proximity of the CBD,’’ Heatherich said.
The vendor was a local private developer.
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Moonee Ponds development site fetches $3 million

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Parramatta commercial property sales increased in the quarter to December 2016, according to CoreLogic's Cityscope report.
The property data firm says that for the three months to December 2016, there were 32 sales at a total value of $150.2 million, compared to 17 sales at a total value of $139.3 million for the previous quarter.
Over the year there were 97 sales at a total value of $492.8 million, a decrease from the 171 sales at a total value of $578 million for the previous year.
The table below shows sales recorded for the past eight updates of Parramatta Cityscope:
<a href="https://www.propertyobserver.com.au/images/2017/01/24/Paramatta-1.jpeg" target="_blank">Click to enlarge</a>
<img src="https://www.urban.com.au/images/2017/01/24/Paramatta-1.jpeg" alt="">
Notable sales in the December 2016 update of Parramatta Cityscope include:
<ul>
<li>
<a href="https://www.realcommercial.com.au/property-land+development-nsw-parramatta-501863054" target="_blank">Albion Hotel, 135 George Street, Parramatta</a> (pictured above), a single and two-storey building with beer garden, bottle shop and parking on a site of 1,920 square metres, which was sold together with Albion car park, 118 Harris Street, Parramatta, a paved car park for the hotel on a site of 1,214 square metres for about $60 million through Khoury &amp; Partners Parramatta;</li>
<li>80 George Street, Parramatta, two office buildings of six and 11 storeys providing a net lettable area of 8,115 square metres with basement parking for 103 cars, which was sold for $51.88 million through Knight Frank</li>
<li>292 Church Street, Parramatta, a three-storey retail building with a net lettable area of 2,090 square metres and six car spaces, which was sold for $9.75 million through Ray White Commercial – Sydney.</li>
</ul>
<a href="https://www.propertyobserver.com.au/images/2017/01/24/Paramatta-2.jpeg" target="_blank">Click to enlarge</a>
<img src="https://www.urban.com.au/images/2017/01/24/Paramatta-2.jpeg" alt="">
Properties listed as for sale in the December 2016 update of Parramatta Cityscope include:
<ul>
<li>295-309 Church Street, Parramatta, a two-storey building with a net lettable area of 1,362 square metres and 17 car spaces, which is available for sale through Savills and Khoury &amp; Partners</li>
<li>Unit 3 at 411 Church Street, Parramatta, a 77 square metres office suite on level one in a two-storey building, which is for sale through LJ Hooker Commercial Parramatta.</li>
</ul>
Properties with leasing opportunities listed in the December 2016 update of Parramatta Cityscope include:
<ul>
<li>197-205 Church Street, Parramatta, two interconnected buildings of two and three-storeys, which have office space of 1,500 square metres available through CBRE Western Sydney;</li>
<li>90 Phillip Street, Parramatta, a four-storey office building with a net lettable area of 3,180 square metres and 61 car spaces, which has office space up to 1,200 square metres available through CBRE Western Sydney</li>
<li>486 Church Street, Parramatta, a 10-level residential building and a two-storey retail annexe, which has retail space up to 1,200 square metres available through Khoury &amp; Partners Parramatta.</li>
</ul>
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Parramatta commercial property sales bounce back: Cityscope

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Sydney's Verandah hotel in Martin Place has been sold for over $9 million.
The hotel is at 60 Castlereagh St and fronts both Castlereagh and Elizabeth Sts.
It sold through Andrew Jolliffe of Ray White's Asia Pacific Hotels. 
<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/2017/02/28/022_Open2view_ID448707-55-65_Elizabet_Street.jpg" alt="">
 He is also selling on behalf of the same vendors John Singleton, Geoff Dixon and Mark Carnegie of The Australian Pub Fund (APF), the Marlborough Hotel in Newtown and Kinselas in Sydney's Eastern Suburbs.
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Sydney's Martin Place hotel, Verandah, sold

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A freehold commercial property in Sydney’s Chatswood has been listed for sale with price expectations of about $25 million.
The 754 Pacific Highway, Chatswood property has a net lettable area of 3,825 square metres. 
The property sits within an area currently zoned for future retail, commercial or mixed use developments, subject to council approval.
The property is being sold via an international expressions of interest and select tender campaign closing March 1 through selling agents Henry Burke of Colliers International and Hugh Anderson of Sutton Anderson.
“We experienced a huge amount of demand for freeholds and expect this trend to continue well into 2017,” Burke said.
There was a record sales result for 282-284 Victoria Avenue for $46.25 million, which represented a net yield of 3.9% and a rate per square metre of $8,300 for two C grade commercial buildings.
15 Help Street sold for $43.8 million, representing a net yield of 5.62% rate per square metre of $8,118 for a B grade office building in the core CBD of Chatswood.
The major result for Chatswood in 2016 was the sale of The Zenith Centre by Dexus &amp; GPT to Centuria and Blackrock for $279 million.
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Commercial property in Sydney's Chatswood listed with $25 million hopes

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A Chinese investor has picked up a corner site in Melbourne’s tightly held Glen Waverley for $2.38 million via private sale.
The 206 square metre retail site at <a href="https://www.realcommercial.com.au/property-retail-vic-glen+waverley-502182570" target="_blank">15 Railway Parade North</a> comprises a single-level brick building of around 150 square metres. The sale price reflected a land rate of $11,387 per square metre.
The deal was brokered by Fitzroys agents Chris Kombi and Terence Yeh along with Peter Sprekos and Damien Sweeney of JLL.
Kombi said the property was offered with vacant possession and Commercial 1 zoning.
He said the property offers future development potential, being subject to proposed amendments to the Monash Planning Scheme that if approved would see the maximum height for the site increased to between eight and 10 stories.
“The offering received interest from investors, owner occupiers and developers alike, all looking to capitalise on the vibrant surrounding Kingsway shopping, dining and entertainment area.”
Kombi said the commercial offering of the area includes The Glen Shopping Centre nearby, which has over 207 specialty retail shops. Nearby are eateries, a cinema multiplex and other entertainment options.
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Corner site in Melbourne's Glen Waverley nets nearly $2.4 million

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Commercial property market sentiment is at a high underscored by the strong performance of CBD hotels, according to NAB’s industry index figures which reached a record level since the survey began in 2010.
NAB’s Commercial Property Index, part of its Commercial Property Survey Q4 2016, rose 5 points to +21 - its highest level since the survey began in early 2010. For the Q4 survey, 250 panellists participated. 
The bank’s chief economist Alan Oster said the jump was largely due to big gains in CBD hotels and small gains in the office sector. 
“While we continue to see an uneven performance across sectors, the performance of CBD hotels has more than offset the lower sentiment that we’re seeing in both retail and industrial markets,” he said.
“Confidence has also wavered in all sectors, except CBD hotels where it rose sharply among very strong expectations for occupancy, capital and revenue per available room (revPar) growth. 
<img src="https://www.urban.com.au/images/2017/02/22/NABCommPropIndex.png" alt="">
<img src="https://www.urban.com.au/images/2017/02/22/NABIndexQ.png" alt="">
Confidence and sentiment was much stronger in New South Wales and Victorian, while Queensland showed some improvement, but WA still very weak, he said. 
The latest survey found that prospects for capital growth in next 1-2 years improved, and are best, for CBD hotels.
Other sectors had scaled back but still growing. Retail is being led by NSW and Victoria, office by NSW and industrial by NSW and Queensland. 
Other findings include the expectation that office property will provide the best income returns in the next 1-2 years, led by very strong growth in NSW. Retail and industrial rents are predicted to grow modestly in all states except WA. 
Overall office vacancy fell a little as a small tightening from very high levels in QLD &amp; SA/NT offset Survey high vacancy in WA and small increases in NSW &amp; VIC (but from low levels). Vacancy in office and industrial markets are set to fall in the next 1-2 years and rise in Retail.
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