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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A total of 135 industrial properties were sold over the year to December 2015 with a total value of $,1,894 million, with Melbourne's North West region netting the greatest dollar volume, according to Savills.
According to Savills, Melbourne’s South East recorded the most number of transactions in the year to December 2015 with 74 (55 percent of all sales), with North West region having the greatest dollar volume with 52 percent of the total transaction value for the year.
Foreign investors and institutions represented the largest buyer categories in the North West by value of all stock, at 24 percent and 56 percent respectively.
Private investors made up 11 percent of total sales volume.
<a href="/images/2016/03/14/Screen%20Shot%202016-03-14%20at%204.15.15%20PM.png" target="_blank">Click to enlarge</a>
<img src="/images/2016/03/14/Screen%20Shot%202016-03-14%20at%204.15.15%20PM.png" alt="">
 
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Melbourne's North West sees high industrial property transactions

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The NSW government will legislation to exempt large commercial property managers, such as Scentre Group and Vicinity Centres, from holding real estate licenses. 
After 15 years debate, the NSW government decided that requirement is little more than red tape.
The government will amend the Property, Stock and Business Agents Act in coming months. 
"These changes are long overdue and form part of the NSW government's real estate reform agenda," Minister for Innovation and Better Regulation, Victor Dominello said. 
"Training for training's sake is a drain on productivity. We must be always be vigilant to ensure that mandatory CPD is fit for purpose."
The Independent Pricing and Regulatory Tribunal's 2015 Reforming Licensing in NSW report recommends that large commercial property managers who manage an estimated property value of at least $40 million, or a gross floor area of at least 20,000 square metres, or are managing properties for a related corporate entity should be exempt. 
The Department of Fair Trading rarely receives complaints from large commercial property owners such as Westfield or Stockland about their managers who adhere to legally enforceable commercial contracts, but the cost to managers to obtain licenses is $4 million a year, the Australian Financial Review noted.
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jchancellor-FAypfDUnLy

Commercial property managers to be exempt from holding real estate licences in NSW

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The latest research from the Burke Road, Camberwell Cityscope shows sales have jumped in the quarter to February 2016 in number and total value. 
In the latest quarter, there were 11 sales at a total value of $96.9 million, compared to 3 sales at a total value of $3.9 million in the previous quarter. 
The 12 month total is also higher, with 27 sales at a total value of $140.6 million, compared to 26 sales at a total value of $110.9 million over the previous year.
The table below shows sales recorded for the last eight updates of Burke Road Cityscope: 
<a href="/images/2016/03/9/Pulse-BKSalesGrid-580x311.gif" target="_blank">Click to enlarge</a>
<img src="/images/2016/03/9/Pulse-BKSalesGrid-580x311.gif" alt="">
 
Notable sales in the February 2016 update of Burke Road Cityscope include:
<ul>
<li>The retail and commercial components of The Well, a four level shopping centre with office space and parking at 793 Burke Road, Hawthorn East, which sold for a total of $72.5 million;</li>
<li>A high-clearance showroom with workshops on a 4,330sqm site at 139-153 Camberwell Road, Hawthorn East, which sold for $13.5 million; and</li>
<li>A two storey brick retail building at 670 Burke Road, Camberwell, which sold for $3.21 million.</li>
</ul>
Properties for sale in the February 2016 update of Burke Road Cityscope:
<ul>
<li>An 89sqm office suite with a car space at 685 Burke Road, Hawthorn East, available through Knight Frank; and</li>
<li>A 48sqm office suite with a car space at 685 Burke Road, Hawthorn East, available at an asking price of $235,000 through Hudson Bond Commercial.</li>
</ul>
Leasing opportunities listed in the February 2016 update of Burke Road Cityscope include:
<ul>
<li>A four storey office building with basement parking for 115 vehicles at 3 Prospect Hill Road, Camberwell, which has 500 to 3,476 sqm for lease through Colliers International Melbourne East;</li>
<li>A four storey office building with basement parking for 300 vehicles at 4-14 Redfern Road, Hawthorn East, which has 731 to 1,817 sqm for lease through Gorman Commercial; and</li>
<li>A four storey office building with parking for 32 vehicles at 277 Camberwell Road, Camberwell, which has 269 to 1,707 sqm for lease through JLL Glen Waverley.</li>
</ul>
<a href="/images/2016/03/9/Pulse-BKSalesChart.gif" target="_blank">Click to enlarge</a>
<img src="/images/2016/03/9/Pulse-BKSalesChart.gif" alt=""> 
 
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jonathanchancellor-7SQnKwU6yx

Burke Road Camberwell sales jump in number and total value: CoreLogic RP Data

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Key amenity differentiators for office buildings like childcare and gyms are still rare, while lobby events bring a sense of engagement for workers in a building who are from different firms and who might not otherwise interact, reveals a new survey of customer service and offerings in commercial office buildings by global real estate services firm JLL.
JLL’s first Regional Customer Services and Experiences survey is a regional snapshot of 62 JLL-managed properties across eight countries in the Asia-Pacific region. Half of the properties surveyed were in Australia.  
The survey revealed that whilst some amenities, such as end-of-trip facilities, retail and concierge services are becoming widespread in commercial buildings, other differentiators such as childcare, shared meeting and conference rooms, gyms and lobby lounges were rare – with only 5-10% of buildings surveyed offering them.
“Customer service is increasingly a strong differentiator. In the current competitive market, it is increasingly difficult for a commercial office building to differentiate itself from its neighbour or a similar building down the street,” said Mike George, JLL’s head of the Premium Asset Group, Property Management.
“And the good news for building owners is that improving customer service doesn’t necessarily result in additional expense.
“Mostly it can be done for little or no additional cost to the normal day-to-day operations of the building.  Some measures, like end-of-trip facilities, require a capex commitment but other measures are about changing mindsets, attitudes and behaviours.  It does take an investment in time and effort, but done properly, can reap significant rewards, including attracting new tenants, retaining existing tenants and enhanced brand strength for the property and owner,” he added.
A JLL Paper titled, ‘Putting the customer first’ outlines the business case for offering superior customer service and engagement in commercial buildings.  
Amenity and Convenience
With office employees spending between 40 to 60 hours a week at work, there is increasing demand for more lifestyle conveniences within the workplace. Employers recognise that they can and should cater for these conveniences, like dry cleaning services and on-site physio, if they want to retain the best talent and create a productive workplace.
“End of trip facilities once served as a key differentiator amongst Premium and A-Grade buildings.  However in more mature markets, like Australia, tenants now expect them,” George said.
“The JLL Survey found 68% of buildings surveyed provided extensive bicycle storage, shower and locker and facilities.
“In contrast, only 5% of the buildings surveyed provided childcare and these were concentrated in Australia and India and in buildings and complexes that were over 300,000 square metres in size.” 
Lobby events
The JLL Survey found 68% of buildings surveyed held lobby events, with the majority stating these were quarterly events.
Explaining the importance of lobby events for building an engaged community in an office building, JLL’s Australian head of customer experience, Peter Merrett  says these create a catalyst for people who might not otherwise need to interact.  
“A single office tower can be occupied by dozens of companies, so creating this sense of community is a long-term project, comprising smaller steps to help build engagement.  These may include lobby events like a wine and cheese tasting at the end of the work day, a health and fitness challenge or even a lion dance for Chinese New Year,” he said. 
“Simple things like handing out Easter eggs or as a surprise, installing a popcorn machine in the lobby for the day can build engagement.” 
 
And what’s next?
 
Lifestyle clubs
“Lifestyle clubs are a relatively new service with the ability to attract like-minded people from different companies within a building and enhance a sense of community.  Food and wine clubs are the most popular, but other possibilities include fitness and cycling clubs.
“Clubs need not be expensive. They can usually be delivered via the property website and can be funded by club members,” said Merrett.
JLL’s customer service specialist practice area has gone from being a trial six years ago to becoming an essential part of the property management business.
“What we are delivering is a new level of hospitality and convenience services in office buildings, to assist people with things like organising sporting tickets and making restaurant bookings.  There is no cost involved for providing this personal concierge service on behalf of our guests – it is all part of the service to support business lifestyles,” said George.  
“For instance, at Liberty Place in Sydney, the concierge offers a raft of services to customers: limousine and car services, shoe shine, theatre and concert tickets, flight and holiday information, restaurant reservations and room service-style catering.”
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Popcorn lobby events: strong business case for increasing worker engagement in office buildings: JLL survey

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Luxury watchmaker OMEGA is the latest retailer to lease space at Pembroke Real Estate’s redeveloped mixed-use building at 20 Martin Place in Sydney.
The watchmaker’s commitment brings the property to 79% leased at the landmark building, with the two levels to be OMEGA’s flagship Australian store.
Set to open its doors in the second half of 2016, OMEGA will join top brands Tesla and ANZ at 20 Martin Place.
20 Martin Place recently earned the 6 Star Green Star Award from Green Building Council of Australia (GBCA), which acknowledges environment-friendly building practices.
Located in the heart of the city’s CBD, 20 Martin Place offers 19,200 sqm of prime grade commercial office and retail space over 21 levels.
“We are delighted to welcome OMEGA and its luxury watch offering to 20 Martin Place as this means we are 100% let in terms of the building’s retail offer,” said Jack Clark, senior vice president and head of Asia Pacific, Pembroke Real Estate.
Pembroke was represented by Leif Olson of CBRE.
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Watchmaker Omega is newest tenant at Pembroke’s 20 Martin Place in Sydney

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The $228 million redevelopment and expansion of Stockland Wetherill Park is a measure of confidence in the economic strength of Western Sydney and is part of by Stockland’s $2 billion investment in New South Wales over the next five years.
Stockland’s Wetherill Park shopping centre was completed three months ahead of schedule, just in time for the Christmas and New Year high sales period.
“Our $228 million investment in Stockland Wetherill Park is a strong vote of confidence in the economic strength of Western Sydney,” said Stockland managing director and CEO Mark Steinert.
The second and final stage of the redevelopment saw the addition of 5,600 square metres of retail space with 20 new fashion and homewares retailers together with an 800-seat indoor-outdoor dining precinct, which features 14 new restaurants, cafes and food operators.
Post-expansion, the gross lettable area (GLA) has increased to 70,000 square metres.
Stockland Wetherill Park has more than 210 retailers, including JB Hi-Fi Home, Dick Smith, Industrie, Napolean Perdis and Lorna Jane. 
The centre has more than doubled its fresh food and casual dining offering with brands such as Nandos, Grill’d, San Churro, Thai Rock and Rashay’s Pizza Pasta and Grill. Stockland Wetherill Park is also home to the first Jamie’s Ministry of Food in NSW, a new Fit n Fast gym and upgraded 12 screen Hoyts cinema.
Joining them is a new Coles supermarket with adjoining Liquorland.
The shopping centre’s Facebook page had 15,334 Likes as on February 22.
The Stockland Wetherill Park redevelopment is expected to achieve an incremental internal rate of return (IRR) of more than 15 per cent in the 10 years post-completion and an incremental, stabilised funds from operations (FFO) yield of just over 7.25 per cent.
The redevelopment started in September 2013, creating more than 2,250 jobs.
The opening in December was well attended, with Hon. Chris Bowen MP, Member for McMahon, Shadow Treasurer, Dr Hugh McDermott MP, Member for Prospect and Mayor of Fairfield City, Frank Carbone among those present. 
The parking space was also increased by 30 percent to accommodate 2,700 cars.
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Early completion of Stockland Wetherill Park expansion vote of confidence in Western Sydney's economic strength

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The exposure of the big four banks to commercial property lending has further increased. 
Australia's four major banks contributed about 70 percent of the latest increased exposure to commercial property.
Analysis from CLSA, NAB has the highest percentage of gross loans to commercial property at 10.3 percent or about $60.2 billion.
Westpac is second at 8.2 percent, through less than a third of the 35 percent it had during the tumultuous early 1990s.
CBA sits at 7.2 percent and ANZ had the lowest exposure to commercial property.
Australia's banks saw their biggest quarterly increase in exposure to office towers during the December quarter, rising almost $3 billion to $74.56 billion, the largest quarterly change since the Australian Prudential Regulation Authority began the 2008 data series.
Australian banks increased their commercial property exposures by $5.46 billion in the December quarter to $244 billion.
Exposures in office accommodation make up 30 percent of all commercial property while retail property made up 23 percent.
There were increased exposures in every sector of commercial property except tourism assets, the Australian Financial Review noted.
Exposures in commercial residential and land developments rose by a collective $1.8 billion in the December quarter.
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Commercial Property 101: Big four banks ratchet up commercial property exposure

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The boss of the diversified property group Mirvac expects fewer Asia-based buyers, as the company delivered a 69 percent increase in profit to $472 million.
Its chief executive Susan Lloyd-Hurwitz said the residential property market had passed an "inflection point" and said the commercial property market was "nearing the end of the cap rate compression cycle." 
"We are keeping a keen eye on the property cycle," Ms Lloyd-Hurwitz said last week when Mirvac Group reported its interim results for the half year ended 31 December 2015.
But she noted NSW had a "stronger for longer construction cycle" being underpinned by broad new infrastructure projects.
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It has $877 million of residential pre-sales expected to settle in 2H16 after strong 1H16 residential gross margins of 25.3%, driven by outperformance of Sydney MPC projects and Melbourne apartments.
The group achieved record $2.6 billion of pre-sales, up from $2 billion at FY15 including securing 88% and 73% of expected FY16 and FY17 Development EBIT respectively, driven by record level of residential pre-sales.
Noting its resilience through brand equity — and a hgh level of repeat buyers with up to 25% of sales on some projects - the updated noted it had maintained its long-term average of less than 1% defaults.
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Most analysts, according to the Australian Financial Review, focused their questions during the results briefing on the security of Mirvac's apartment settlements especially to offshore buyers.
"We do expect some moderation of offshore demand but we expect to see continued investor and owner occupier demand from Asia but at a little lower rate than last year," Ms Lloyd-Hurwitz said.
Some 14 percent of Mirvac's lot settlements went to offshore buyers and each addition purchase over 20 per cent of a project has to be given special individual approval by group executive for residential development John Carfi, it emerged.
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Expecting fewer Asian buyers, Mirvac keeping a keen eye on the property cycle

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Nearly $870 million worth of reported industrial property transactions (&gt;$2m) were recorded by Savills in the 12 months to December 2015, down from $913 million in the previous year, and up on the five-year average $651 million.
The hunt continues by investors for prime assets encouraged by the returns that property offers in the current climate, however, well located land is also eagerly sought as developers return to the market.
The highlight of the year was a $1.073 billion purchase of the GIC portfolio by Singapore-based Ascendas. The portfolio included assets from Victoria, New South Wales and Brisbane. There were seven Brisbane properties included in the deal amounting to $317.2 million.
In another unconfirmed deal, Logos Property Group secured 246,000 square metre of land at Heathwood on the Logan Motorway with intention to develop a premium logistics estate.
Overall, industrial sales topped $1 billion in the 12 months to December 2015, however Savills only includes sales over $2 million in their charts and reporting. 
Nevertheless, it is interesting to note strength of the under $2 million purchases at around $161 million for the year which would be mainly small owner occupiers and land sales which says a lot for the confidence of small businesses and underpins future industrial growth.
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Savills reap $870 million in industrial property sales to December 2015

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Canberra’s commercial property sector is expected to attract an increasing level of offshore attention from investors in 2016.
<div>According to Knight Frank’s Associate Director, Institutional Sales, Canberra, Nic Purdue, there are numerous signs that point to a stronger market and more diversified attention on the capital city this year.</div>
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<div>“Recent positive economic signs in Canberra are expected to help underlying market fundamentals," he said.</div>
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<div>"This includes a far more stable vacancy rate, stable incentives and forecast rental growth – all signs that the Canberra commercial market has reached the lowest end of its cycle.” </div>
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<div>Nic said that investors from Asia are looking increasingly towards the Canberra market due to its secure, long-term government tenants. </div>
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<div>“The current wave of Asian capital is looking to diversify away from Australia’s core markets and into higher-yielding regions, such as Canberra.</div>
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<div>“With some volatility in global markets, Canberra is increasingly being considered as a safe haven within the context of the wider Australian market place.</div>
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<div>"Australia remains attractive for offshore investors who are drawn by the low Australian dollar, cost-effective borrowing and government stability and should the global volatility continue there will be a case for the RBA to keep rates on hold, adding to the attractiveness of Canberra as a market."</div>
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<div>“We are already receiving increased interest from Asian countries including Korea, Singapore and Malaysia.</div>
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<div>"In December 2015 Korea’s FG Asset Management purchased the Louisa Lawson Building for approx. $225 million and we anticipate that this significant transaction will lead to more interest from these groups in 2016.” </div>
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<div>Mr Purdue said that Canberra hasn’t yet seen the influx of Chinese investors in the commercial market, although the residential market has seen plenty of interest. </div>
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<div>“Canberra’s commercial sector hasn’t yet seen the levels of demand from Chinese investors that other capital cities have seen, but that could also change.” </div>
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<div>According to Nic, hotel buyers from Asia are seriously considering Canberra at the moment and actively seeking opportunities.</div>
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<div>“In addition to interest in the commercial office sector, we have recently received several enquiries for hotels in Canberra on behalf of Asian hotel groups," he said.</div>
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<div>"We expect this interest to continue.”</div>
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<div>A final factor that may have a positive impact on the flow of Asian investment into Canberra, according to Nic, is the potential upcoming announcement by Singapore Airlines that they may look at initiating direct flights between Canberra and Asia. </div>
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<div>“As reported in the media over the past week, if Singapore Airlines does create a direct flight route between Canberra and Asia, this will continue to build the case as an investment destination for Asian investors,” he concluded.</div>
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