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 North Sydney medical consultancy space has been sold for $767,500 by Raine and Horne Commercial agent Nick Moloney.
The property at <a href="https://www.realcommercial.com.au/property-medical+consulting-nsw-north+sydney-502046598" target="_blank">52 and 53/12-16 Berry Street</a> has a floor area of 112 square metres, plus one single car space.
<img src="/images/2016/10/03/52%20%205312-16%20Berry%20Street.jpg" alt="">
It is a tenanted strata investment with a five plus year lease. The building was completed in 2014 and has residential atop in the Atria block.
The area is leased to MIND BODY SPINE, a medical/consulting service that provides a holistic approach to wellness.
The net income is $48,583 per annum with an upside of CPI increases.
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Atria, North Sydney medical consultancy premises sold

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The financial year 2015/16 marked another year of strong performance in property investment markets in Australia, says Savills Research in their latest World Office Yield Spectrum report, which was compiled along with Deakin University.
The country has attracted record amounts of foreign capital entertained by attractive yields, a stable currency and compelling economic and political metrics. 
Domestic institutions, recovering from the GFC and replacing private investors as competitive buyers once again, suddenly found themselves outbid. The large amount of capital from overseas has encouraged many investors to dispose of property, re-weight portfolios and change exposures. This led to a record 12 months of approximately $33.4 billion of turnover in commercial property. 
<a href="/images/2016/09/28/Savillsoffice.png" target="_blank">Click to enlarge</a>
<img src="/images/2016/09/28/Savillsoffice.png" alt="">
Conversely, many market fundamentals demonstrated the two-tone nature of the Australian economy – some indicators deteriorated in Perth and Brisbane, many showed substantial improvement in Melbourne and Sydney. Brisbane appears to have reached a base whilst Melbourne and Sydney continue to improve.
Capital markets exhibited greater degrees of volatility throughout the year and have  finished the year weaker with the ASX200 falling 7 percent, however the Australian dollar rose 2 percent against the US dollar and 10-year bonds yields fell by 100 basis points to approximately 2%.
“Commercial property investment yields firmed across the board – a theme we have been writing about for several years now. We still do not believe it has fully run its course,” says the report.
“In some markets, fundamentals are improving rapidly. We believe this improvement will lead to further tightening in yields as investment capital starts to price in expectations of future NOI growth. This part of the yield cycle is just beginning.”
<a href="/images/2016/09/28/Savillsoffice2.png" target="_blank">Click to enlarge</a>
 <img src="/images/2016/09/28/Savillsoffice2.png" alt="">
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Record foreign inflows push commercial property turnover to $33.4 billion in FY15-16: Savills 

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The onset of spring has brought good news for commercial property in Australia, with record low interest rates driving significant interest in the sector, according to property firm Raine &amp; Horne.
The Spring 2016 issue of Raine &amp; Horne Commercial Insights says a trifecta of factors –  low interest rates, a supportive federal government and lacklustre returns on many other investment classes – is proving to be a boon for commercial property. 
“Today’s low interest rates make now the ideal time to review commercial portfolios and add new assets,” said Angus Raine, executive chairman, Raine &amp; Horne Commercial.
“Small business owners are well-placed to take advantage of the current favourable market to step into their own premises, or upgrade business premises, and strengthen their enterprise’s asset base.”
In Sydney, vacancy rates are approaching 5 percent in North Sydney as commercial properties are increasingly redeveloped for residential housing. The Northern Beaches is also experiencing exceptionally low vacancy rates, it says.
“Yields of 5-7 percent are achievable on the Northern Beaches, and the construction of Dee Why town centre will further cement Dee Why as a true commercial hub,” said Raine.
The western suburb of Parramatta is experiencing near-zero vacancy rates on prime office space as blue-chip government tenants including the NSW Department of Education move into the area. 
“We’re seeing yields are as high as 7.5 percent on Parramatta office space,” said Raine.
In Penrith, the announcement that Badgerys Creek will be the site of Sydney’s second international airport is seeing a rise in land values. 
In the Macarthur (Campbelltown) area, Raine said  “The commercial market is being driven by owner occupiers, who are taking advantage of low interest rates to move into their own premises. In the sub-$5 million market there simply aren’t enough properties to meet demand.”
In the Hunter, Newcastle vacancy rates for office and retail space, especially in the smaller size ranges, have tightened dramatically as the city’s microbusinesses take their first growth steps.
“Auction is the preferred sale method for the Newcastle market right now, and around 50 percent of commercial properties in the sub-$2 million price range are selling to investors prior to auction,” said Raine. 
In Brisbane, demand from self-managed super funds (SMSFs) is driving up prices for commercial assets in the city’s north. 
“There is a lack of quality secure industrial and retail property investment opportunities, with demand from SMSFs ten-fold stronger than supply. Securely leased investments priced between $2 million-$5 million are attracting 70-100 enquiries during the course of a sales campaign, and can sell on yields of 5.5-7.5%,” said Raine.
The commercial market is also showing robust growth across many other parts of Australia. 
In Adelaide, the Torrens Road to River Torrens South Road Upgrade Project has increasing prospects for commercial property by improving transit flows, and in Melbourne, vacancy rates remain minimal with yields in the order of 5.0-7.0 percent across the city.
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Australian commercial property markets primed for take-off this spring: Raine and Horne

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A semi-detached commercial building in Port Fairy, Victoria is under contract having been listed with $1.25 million hopes.
The two bedroom property at <a href="https://www.realestate.com.au/property-duplex+semi+detached-vic-port+fairy-122200018" target="_blank">20 Bank Street</a> was built in the late 1800s and is currently occupied by the Italian restaurant L'Edera.
It was offered for sale as an unregistered plan of subdivision with separate titles expected to be issued shortly. 
The property was listed by Robertson Port Fairy agents Paul Ross and Di MacKirdy. 
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1800's commercial property in Port Fairy under contract

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Commercial property investing can be complex and the jargon can sometimes be overwhelming.
Property fund manager Charter Hall’s magazine Directly Speaking tries to demystify commercial property jargon for you:
AB 
Anchor Tenant: Key tenant(s), who attract other tenants and customers to a shopping centre. 
A-REIT: Australian Real Estate Investment Trust is the pooled capital used to purchase and manage real estate investments to provide investors a return. Often traded on a stock exchange. 
ASX: Australian Securities Exchange 
Average Lease Term: see WALE. 
Basis points: Generally used to define differences in yield. 1% is equal to 100 basis points. 
Benchmark: Relative measure of performance. Often used as a synonym for Index. 
Book Value: Value of an asset for accounting purposes, representing its cost plus any additions, less depreciation. 
CD 
Capitalisation Rate: The rate at which the annual net income from an investment is capitalised to ascertain its capital value. 
CHC: ASX ticker code for the Charter Hall Group. 
CHDPML: The Responsible Entity for Charter Hall’s direct property funds. 
CHIFs: Charter Hall’s investment fund syndicate series. 
Commercial Property: Office, industrial and retail investment property. 
CQR: ASX ticker code for the Charter Hall Retail REIT. 
DA: Development Application 
DD: Due Diligence 
DIF3: Charter Hall Direct Industrial Fund No.3 
Direct Property Fund: An unlisted property fund, trust or syndicate investing in commercial property but not listed on the ASX. Available to all investors. 
Distribution: Regular income payments made from the fund to investors. 
DOF: Direct Office Fund 
DRP: Distribution Reinvestment Plan is the opportunity to reinvest distributions by purchasing additional units. 
EFGH 
Effective Rent: Rental payments less landlord concessions or incentives. 
EOI: Expression of Interest.
Gearing: Total interest bearing liabilities 
divided by the total assets. 
GLA: Gross Lettable Area is the total amount of oor space available to be rented. 
HOA: Heads of Agreement is the agreement with a prospective tenant before the lease is signed. 
IJK 
ICR: Interest Cover Ratio is revenue over the interest expense. 
Independent Valuation: Actual value of a property from an independent, impartial property agent. 
Initial Yield: The annualised property income expressed as a percentage of the property value. 
IPD: Investment Property Databank provide research-based indexes and analytics. 
LMN 
Lease: Binding agreement where one party agrees to rent property from another party for a fixed period. 
LVR: Loan to Value Ratio is a method of determining borrowing capacity, usually expressed as a %. 
Major Tenant: Normally the largest tenant(s) in an of ce or industrial property. 
Market Price: The price actually paid for a property. 
Market Rent: Rent applicable to a property in the open market. 
NABERS: National Australian Building Energy Rating Scheme 
NAV: Net Asset Value is total assets minus total liabilities. 
Net Absorption: Difference between space leased and space supplied over a set time period. 
NGERS: National Greenhouse and Energy Reporting Scheme 
NLA: Net Lettable Area is the total amount of floor space available to be rented. 
OPQR  
Occupancy: The number of tenants at a given property, usually expressed as a % i.e. 98% occupancy. 
PCA: Property Council of Australia is the industry body and leading advocate for Australia’s $600 billion property industry. 
PDS: Product Disclosure Statement
or Prospectus is the offer document containing information for assessment of a specific investment opportunity. 
PIR: Property Investment Research is an Australian provider of property funds research and analysis. 
RE: Responsible Entity is responsible for managing an investment trust on behalf of scheme members. 
Retail Property: Shopping centres including regional, sub-regional and neighbourhood centres. 
STUV
Sqm: Measurement of square metres. 
Tax Deferred: Portion of distributions that are income tax advantaged due to depreciation. The cost base of units for calculation of capital gains must be reduced by the amount of tax deferred income received. 
Unlisted Property Fund: see Direct Property Fund. 
WXYZ 
WALE: Weighted Average Lease Expiry is a metric used to express the duration of lease commitments across a portfolio. 
Yield: The ratio of net income from an asset to value of the asset, expressed as a %. In terms of property trusts it can be calculated as distribution divided by market price, multiplied by 100. 
 
 
 
 
 
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Commercial property jargon, simplified: Charter Hall

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An 1880's mixed-use site in Pyrmont has been snapped up by Bar Cupola Catering Pty Ltd.
They paid $3.225 million for the <a href="https://www.realestate.com.au/property-house-nsw-pyrmont-122433502" target="_blank">447 sqm Victorian building</a> which offers retail, office and residential uses.
The residential aspect has three bedrooms and three bathrooms, with numerous kitchens and two fireplaces also part of the building.
At the time of the sale the building’s income was around $149,500 per annum.
The building last traded in 2010 for $2.74 million.
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Mixed use Pyrmont premises sold

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SPONSORED POST 
How do you know if you are paying too much rent?
Every tenant of a commercial property should be confident that they are paying market value rent.
While there is no set formula that can tell you exactly what your rent should be, there are ways to know whether or not the rent you pay is fair.
Every tenant of a commercial property should be confident that they are paying market value rent.
How is rent calculated?
Commercial property rent is usually calculated on a rate per square metre, for example $320 sqm. So the larger the premises, the more you pay. However it is more complicated than that. The rate per square metre depends on a number of factors. These include location, condition and age of the property, surrounding tenants, included services and sometimes even the lease terms.
Figuring out an appropriate rent means weighing up all of these factors as well as the current market conditions.
As a tenant, or potential tenant, the best way to find out whether your rent is fair is by doing your research.
How do I know how much is right?
The easiest and often most informative method is to search online for other properties that are similar in size, location and/or purpose. You will very quickly get a sense of what is on the market and for how much. If you keep checking over time you will also be able to see which properties get rented and which ones don’t. And you will notice if rental prices are going up or down.
Another good idea is to ask other tenants in your area. Knowing what people are actually paying is the best way to decide whether or not the rent you pay is fair.
Real estate agents are another fantastic source of information. It’s their job to know the market. Ask them what they have on their books. This is especially useful if your lease is up for renewal. You might be surprised by what else is available, how much people are paying and what incentives are on offer.
Real estate agents are another fantastic source of information. It’s their job to know the market.
All of this will give you a sense of the market rate. If you think you are being overcharged then look at your lease – when is it up for renewal and what are the terms? Remember you can and should start renegotiating your lease at least six months before it is due to expire.
Knowing what the market rate is and what other properties are available will help you negotiate the best deal with your landlord.
A little bit of research, to help you know how much you should be paying, will help ensure you don’t pay too much.
For more information, <a href="https://bs.serving-sys.com/BurstingPipe/adServer.bs?cn=tf&amp;c=20&amp;mc=click&amp;pli=18755997&amp;PluID=0&amp;ord=%5Btimestamp%5D" target="_blank">click here</a>.
About realcommercial.com.au: realcommercial.com.au is the leading website in Australia for commercial property, attracting an average of 1.7 million visitors a month (Source: Nielsen Online Market Intelligence, Total Traffic, average calculation May-July 2015, includes app traffic from Omniture Site Catalyst as Nielsen doesn’t report on app). It is owned and operated by realestate.com.au Pty Ltd, a subsidiary of ASX-listed REA Group Limited ACN 068 349 066 (ASX:REA).
 
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Are you paying too much rent on your commercial property? realcommercial.com.au

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Commercial real estate is too cheap, according to one of the world's leading real estate academics, Professor Andrew Baum, the visiting professor of management practice at the Saïd Business School at the University of Oxford.
Professor Baum acknowledged the extremely attractive risk premium over bonds. 
"If you get 1.8 per cent on a bond, why is real estate trading at 5 percent? It would not surprise if the yields went down to 3.5 percent," he told the Australian Financial Review.
Professor Baum said most people assumed bond yields would rise but with a glut of savings around the world it could be some time till they turn.
"It is possible that yields will stay low for a long time, in which case property yields could go lower."
<a href="/images/2016/08/24/Screen%20Shot%202016-08-24%20at%2012.11.53%20pm.png" target="_blank">Click here to enlarge</a>
<img src="/images/2016/08/24/Screen%20Shot%202016-08-24%20at%2012.11.53%20pm.png" alt="" width="338" height="263">
Professor Baum outlined three possible scenarios.
1) Bond yields stay low, in which case, "property is a screaming buy".
2) Bond yields rise with Professor Baum estimating that the current yield gap could absorb a rise of 1 percent rise in bond yield without any more in real estate yields.
"Real bond yields you have to rise 2 percent before it affects real estate pricing," he said.
3) Inflation expectations and real bond yields surge beyond the 2 percent cushion.
"The question then is whether property is an inflation hedge," he said, pointing out that over 35 years in the UK, inflation had averaged 3.2 percent a year – and so had commercial rents.
Professor Baum says the second scenario is the most likely and Australia looks good with a relatively high property yield relative to local bonds.
Professor Baum is a chartered surveyor who will speak at the University of Sydney Business School CBD campus on the lessons from the European experience of real estate in a low interest rate environment on Thursday.
His visit comes as the latest Australia All Property Index has been released by the Property Council/IPD Australia. It provides a broad measure of investment returns for the commercial property market in Australia.
<a href="/images/2016/08/24/Screen%20Shot%202016-08-24%20at%2012.11.58%20pm.png" target="_blank">Click here to enlarge</a>
<img src="/images/2016/08/24/Screen%20Shot%202016-08-24%20at%2012.11.58%20pm.png" alt="" width="293" height="240">
The index database is comprised of property assets from 61 funds with a combined asset value of A$165 billion representing 1,419 assets.
The index details total return, income return and capital return for office, retail, industrial and other sectors on a quarterly basis.
The annualised total return for the year ending June 2016 was 13.3%.
This result is above the 11.8% return of June 2015 and above the 15 year annualised return of 10.5%.
Office returns were 14.6%, industrial 13.5% and retail 11.2% as at June 2016.
Cap rates for the quarter at an all property level tightened to 6.2%.
Retail cap rates tightened to 5.9%, office cap rates tightened to 6.2% and industrial cap rates tightened to 7.2%.
The composition (by value) across the sectors is retail (42%), office (44%), industrial (9%) and other (5%).
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Why Australian commercial property looks a good investment

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GUEST OBSERVER
Australian car manufacturers are closing. Ford is closing in October this year. Toyota and Holden are to quit manufacturing in Australia by the end of 2017.
That means that from 2017, Australia will not have a local car manufacturing industry. This will especially impact on companies that make parts for new cars.
One aspect that has not been discussed among the many forthcoming hardships, is the impact on industrial property owners. The suburbs of Melbourne will be hard hit, especially the Northern Suburbs.
Opinions vary as to the number of businesses in the automotive component manufacturing industry but all agree that it is a large number. Many of which are located in Melbourne’s outer suburbs. Administrators appointed to one component manufacturer claims there are 150 firms nationally while Ibis Research says there are 882 businesses. Government committees have relied on automotive aftermarket association membership of 260 as their number.
Many component suppliers’ premises are setup for manufacturing and have limited alternative uses. While there is an ongoing demand for warehouse and distribution industrial properties, these component supplier premises are not considered as they usually lack the necessary high ceiling and high clearance entrance required for storage stacking and large vehicle access.
<h1 style="text-align: left;" align="center">Figure 1. Declining Industrial while Retail and Office do strong </h1>
<a href="/images/2016/08/16/Screen%20Shot%202016-08-16%20at%201.12.09%20PM.png" target="_blank">Click to enlarge</a>
<img src="/images/2016/08/16/Screen%20Shot%202016-08-16%20at%201.12.09%20PM.png" alt="">
The effect on industrial property will happen sooner than we think. In fact, it’s happening now.
The Commercial Property Guide Asking Price Index (API) shows a steady decline in the rent that real estate agents are seeking for their clients’ industrial properties. This contrasts with a healthy increase over recent times for office and retail commercial space.
The industrial property rental asking price has been in a decline since November 2015 (see figure 1.). In May 2016 the asking price for industrial property rents have decreased 1.0 percent in the past three months. In the last two months (June and July) industrial rents have found a new lower level. One area that has been particularly hard hit is the Inner Northern suburbs of Melbourne where demand for logistics and warehouse properties does not appear to have offset the effect of factory rents decreases. Table 1. Shows the last six month changes.
<table border="1" cellspacing="0" cellpadding="0"><tbody>
<tr>
<td valign="top" width="75">
Feb
</td>
<td valign="top" width="75">
Mar
</td>
<td valign="top" width="75">
Apr
</td>
<td valign="top" width="75">
May
</td>
<td valign="top" width="75">
June
</td>
<td valign="top" width="75">
July
</td>
</tr>
<tr>
<td valign="top" width="75">
-3.08
</td>
<td valign="top" width="75">
-1.23
</td>
<td valign="top" width="75">
-3.23
</td>
<td valign="top" width="75">
-3.08
</td>
<td valign="top" width="75">
-3.26
</td>
<td valign="top" width="75">
-1.78
</td>
</tr>
</tbody></table>
 
Table 1. Change over the previous 3 months for Inner Northern Melbourne Industrial Property
With domestic vehicle manufacturing to cease by 2017, the Victorian Government has launched a funding program “Towards Future Industries: Victoria’s Automotive Transition Plan”, to assist businesses, employees and communities to capitalise on opportunities and provide support to those affected.
One group not eligible for direct assistance are factory owners of premises where component manufacture will stop.
The Commercial Property Guide API is starting to tell the story of these parts makers. There is considerable lead-time required to transition out of car parts to a new opportunity. As well as the much discussed unemployment and economic impact, the unintended consequences on commercial property owners is just beginning to be felt.
Simon Rose is chief executive officer, Commercial Property Guide and can be contacted <a href="https://www.commercialpropertyguide.com.au" target="_blank">here</a>.
 
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Real estate early-warning radar for end of car manufacturing

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Diversified property giant Mirvac has secured nearly a 70 percent increase in their profits given booming real estate markets.
The total profit of $1.033 billion is a sharp increase from its $610 million last year.
The group's operating profit however only rose six percent to $482 million from $455 million.
The jump in profits is down to the revaluation of investment properties - and the ones under construction - which totals $497 million, considerably higher than the $141 million posted last year. 
The group's office and industrial assets contributed $796 million to the totter $1.033 billion profit.
The office portfolio was boosted by recycling assets with sales of $1.6 billion since 2014, showing a passing yield of 7.1 percent.
Each sector of the groups market reported large boosts.
<a href="/images/2016/08/16/Screen%20Shot%202016-08-16%20at%2010.59.32%20am.png" target="_blank">Mirvac's property portfolio</a>
<img src="/images/2016/08/16/Screen%20Shot%202016-08-16%20at%2010.59.32%20am.png" alt="" width="575" height="205">
The residential land division business more than doubled from the year before and profits from retail rose to $243 million.
Their Woodlea, Rockbank subdivision in Melbourne's north-west and its Googong project in NSW secured the largest volume of sales.
They negotiated 258 offshore buyers and secured residential presages for the year of $2.9 billion, up nearly $1 billion on the previous year.
New developments for the group included 200 George Street and 8 Chifley in Sydney, Treasury Building in Perth and 699 Bourke Street in Melbourne.
Mirvac declared a final dividend of 5.2 cents a share, taking the total for unit holders over the year to 9.9 cents, up five per cent on the previous year.
<a href="/images/2016/08/16/Screen%20Shot%202016-08-16%20at%2011.02.21%20am.png" target="_blank">Mirvac's diversification of sectors</a>
<img src="/images/2016/08/16/Screen%20Shot%202016-08-16%20at%2011.02.21%20am.png" alt="" width="581" height="223">
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