The new <a href="https://www.apartments.com.au/new-apartments/yarraville-green-42-stephen-street-yarraville-vic-3013">Yarraville Green</a> development in Melbourne's inner west is showing that landscaping can be just as influential as architecture, with buyers responding strongly to the garden-first approach adopted from the outset by developer Excelon Projects and the project's design team.

Excelon appointed Six Degrees Architects and landscape architects SBLA to work collaboratively on the development, with a brief to create "a sustainable, design-led building with a focus on community."

That approach has resonated with buyers. According to Next Chapter Director Tom Hirini, who is leading the sales campaign, the landscaped communal garden has become one of the project's defining features, alongside its boutique scale and European-inspired cluster housing concept.

Local downsizers, right-sizers and established families already living in Yarraville and surrounding suburbs have accounted for the majority of purchasers.

[smartcode_project:default project_id=144913 project_image_fid=297740]

Yarraville Green will comprise 53 homes, including apartments and townhomes, arranged around the shared central garden to maximise connections to the landscaped open space. Parking has been moved underground, allowing the ground plane to be dedicated to greenery, pedestrian movement and communal spaces.

The landscape extends well beyond passive planting. Productive garden beds, a pergola, communal gathering spaces, garden sheds and a pet wash have all been integrated into the masterplan, creating spaces designed to encourage everyday interaction between residents.

[smartcode_project:default project_id=144913 project_image_fid=297741]

The interiors continue Excelon's focus on craftsmanship, incorporating bespoke elements by Melbourne artisans including leadlight detailing by Adadaz, hand-turned timber hardware by Auburn Woodturning and blown-glass lighting by Ruth Allen.

Sustainability has also been embedded throughout the project, with Yarraville Green targeting an average 7-star NatHERS energy rating through passive design principles, rooftop solar servicing common areas and rainwater harvesting for landscape irrigation.

[smartcode_project:default project_id=144913 project_image_fid=297735]

Construction continues to progress at Yarraville Green, with structural works well underway and framing works approaching completion under builder Balmain &amp; Co. The project remains on track for completion in mid-2027.

Apartments at Yarraville Green are currently priced from $625,000, while townhomes start from $1.4 million.

[smartcode_project_cta:default project_id=144913]

Joel Robinson

Garden-led design drives buyer demand at Yarraville Green

National diversified developer Fortis has officially launched Crest &amp; Walker, its latest Brisbane apartment development, with construction now underway on the 20-storey Newstead project.

Award-winning builder BINAH has commenced construction on the Bureau^Proberts-designed building, which will deliver a limited collection of 65 two and three-bedroom apartments on Kyabra Street.

[smartcode_project:default project_id=145922 project_image_fid=373556]

The project marks Fortis' fourth active residential development in Brisbane, following River House, which is nearing completion, alongside projects in New Farm and Hamilton as the national developer continues to expand its South East Queensland pipeline.

Fortis General Manager – Development Queensland Dan Boman said Crest &amp; Walker reflects the developer's long-term commitment to delivering design-led residential projects in Brisbane's established inner-city suburbs.

"We're proud to be strengthening our presence in Brisbane with Crest &amp; Walker, particularly in such a sought-after lifestyle destination as Newstead," Boman said.

"Every Fortis project is shaped by its context, and we approach each one with the respect and care it deserves.

"Our focus is always on creating places that feel connected to their neighbourhood and elevate the everyday experience for residents. Newstead continues to evolve as one of Brisbane's most sought-after urban communities, and Crest &amp; Walker reflects our ambition to contribute meaningfully to that story."

[smartcode_project:default project_id=145922 project_image_fid=373559]

Positioned between Gasworks Plaza and James Street, <a href="https://www.apartments.com.au/new-apartments/crest-walker-newstead-12-kyabra-street-newstead-qld-4006">Crest &amp; Walker</a> has been designed as a boutique residential address offering privacy and generous living spaces within one of Brisbane's most established lifestyle precincts.

The building features a contemporary brick podium softened by integrated landscaping, while the upper levels are characterised by restrained architecture and enduring materiality. Interiors have been designed to maximise natural light, acoustic performance and long-term liveability.

[smartcode_project:default project_id=145922 project_image_fid=373583]

Residences comprise spacious two and three-bedroom floorplans, with two-bedroom apartments priced from $1.55 million and three-bedroom, half-floor residences from $3.95 million.

Residents will have access to a wellness-focused rooftop featuring a swimming pool, sauna, steam room, landscaped dining spaces and outdoor lounge areas overlooking Newstead and the Brisbane CBD.

[smartcode_project:default project_id=145922 project_image_fid=373571]

Sales are being managed by Slaite Projects, with Fortis expecting strong demand from owner-occupiers seeking a high-quality, design-focused apartment in one of Brisbane's most tightly held inner-city suburbs.

Completion of Crest &amp; Walker is slated for late 2028.

[smartcode_project_cta:default project_id=145922]

Fortis expands Brisbane pipeline with launch of Crest & Walker in Newstead

The enormity of delivering a true skyscraper in Australia's new development market is often overlooked.

It has taken the best part of a decade since plans for Chevron One were first unveiled, but the 41-storey tower is now complete, with residents collecting their keys and moving into what has become one of the Gold Coast's most recognisable new landmarks.

Rising 127 metres above Chevron Island, Chevron One stands almost twice as high as any other building on the island. Its scale places it alongside the trio of towers at Jewel, arguably the last truly significant addition to the central Gold Coast skyline when they were completed around six years ago.

While there are several developments underway around a similar height to Chevron One, they are more concentrated within clusters of the highest towers in the city. The fact Chevron One sits within a developing precinct, looking back at the other high-rise developments in Surfers Paradise and Broadbeach, makes it a different proposition altogether. It will certainly become a reference point on the Gold Coast skyline.

[smartcode_project:default project_id=6515 project_image_fid=68833]

Developer Bensons Property Group is behind the 41-storey tower, which has 229 apartments, along with an exhaustive list of resident amenity spread across what is the largest development site ever assembled on Chevron Island.

The tower has been the talk of the town for years, says Ray White Projects Gold Coast agent Caitlin Rosenboom, who is selling the remaining apartments.

"People have been watching Chevron One go up for years," Rosenboom says, adding that many prospective buyers have been surprised by the scale of the views once they step inside.

"It's only when they walk through a completed apartment that they truly understand the position of the building," Rosenboom says.

"The views are jaw-dropping. Whether you're looking east over the ocean, across Surfers Paradise, along the river systems or out to the hinterland, every level offers something different but equally impressive."

[smartcode_project:default project_id=6515 project_image_fid=360215]

One of Chevron One's defining advantages is its location on the eastern side of Chevron Island on Stanhill Drive, a position which protects the views forever.

"There's only one row of houses between Chevron One and the water, and the height restrictions along the river means views from Chevron One can never be built out,"&nbsp;Rosenboom says.

While new apartment developments continue to emerge across the Gold Coast, Rosenboom says opportunities to secure a completed apartment with this level of outlook are becoming increasingly rare.

"The size of the site is something that would be incredibly difficult to replicate today," she says.

"That's allowed Chevron One to deliver the sort of amenity, open space and resident facilities that very few projects can offer. There are not many completed apartment buildings on the Gold Coast right now that can compete with the combination of scale, quality and amenity."

[smartcode_project:default project_id=6515 project_image_fid=68839]

There's around 2,000 sqm of amenity solely for the use of residents of Chevron One. Club One features a uniquely shaped swimming pool that mirrors the footprint of the building itself, set within a extensively landscaped gardens. There's also an indoor pool and spa, a fully equipped gym with a Pilates room, a yoga garden, a bookable private dining area and lounge that can host up to 30 people, and a 24-hour concierge service.

As for the buyers, Rosenboom is fielding enquiry from everywhere: Sydneysiders and Melburnians looking at the new and off-the-plan market following the changes in the Federal Budget, as well as those looking to relocate, through to South East Queenslanders seeking either a permanent home or a weekender bolthole.

"The Gold Coast lifestyle continues to resonate with people relocating from the southern states, and when they see the views and the quality of what's been delivered at Chevron One, it becomes very easy for them to understand the appeal," Rosenboom says.

A diverse mix of one, two and three-bedroom apartments remain available, with each offering "something a little different", be it the orientation and views, configuration, or level, to suit a wide variety of buyers.

The remaining apartments are ready to inspect in person, by appointment.

[smartcode_project_cta:default project_id=6515]

A decade in the making: Residents to move into Chevron One as construction wraps up

A general rule of thumb in new apartment developments is that the penthouses get the rooftop.

It's a formula that's become commonplace across Australia's apartment market. Residents might have access to a pool, gym or barbecue facilities on a dedicated lower level, but the most desirable outdoor spaces are typically reserved for the highest-priced homes at the top of the building.

<a href="https://www.apartments.com.au/developers/sherpa-property-group">Sherpa Property Group</a> has taken the opposite approach.

Rather than dedicating the rooftop to a handful of buyers, the Gold Coast developer has made it the centrepiece of its Flourish collection, creating expansive shared spaces from the best vantage point in the building.

The philosophy has reached its most ambitious expression at <a href="https://www.apartments.com.au/new-apartments/flourish-soleira-palm-beach-1150-1160-gold-coast-highway-palm-beach-qld-4221">Flourish Soleira</a> in Palm Beach, where two rooftop precincts connected by a skybridge will deliver one of the most extensive lifestyle offerings seen in a residential apartment project on the Gold Coast.

[smartcode_project:default project_id=150017 project_image_fid=374053]

"We're seeing a clear move toward developments that offer more than just an apartment," Sherpa Group founder Christie Leet said.

"People want spaces that support how they actually live, whether that's working from home, staying active, or spending time with family and friends.

"That's where amenity becomes critical. It's not just about what's included, but how those spaces are designed to be used every day."

[smartcode_project:default project_id=150017 project_image_fid=374052]

The breadth of amenity has already attracted buyers across multiple demographics. Younger first home buyers have been drawn to Soleira's one-bedroom apartments, a product rarely delivered in Palm Beach, while families have responded to practical inclusions such as the shallow children's pool adjoining the main lap pool and the extensive communal recreation areas.

Instead of a single rooftop, Soleira delivers two distinct lifestyle zones.

[smartcode_project:default project_id=150017 project_image_fid=372547]

The southern rooftop has been dedicated to wellness, featuring a gym, yoga and Pilates studio, work-from-home facilities, a wellness centre, spa, and hot and cold plunge pools.

The northern rooftop focuses on recreation and entertaining, incorporating a heated resort-style pool, private dining rooms, pizza ovens, barbecues, a golf simulator, children's recreation areas, and what is expected to be the Gold Coast's first rooftop basketball court, which will also double as a squash court.

[smartcode_project:default project_id=150017 project_image_fid=374054]

Beyond the rooftops, Soleira will introduce 1,500 sqm of curated retail beneath the towers, creating one of Palm Beach's first genuinely mixed-use lifestyle precincts where cafés, restaurants and convenience retail become part of residents' everyday lives.

Sherpa has also retained management rights across the development, allowing it to oversee the long-term operation of the building through a 24-hour concierge model. The developer is also exploring additional revenue streams within the precinct aimed at helping offset ongoing body corporate costs for residents.

[smartcode_project:default project_id=150017 project_image_fid=370962]

While Soleira is the largest project Sherpa has delivered, the rooftop-first philosophy has been evolving for several years.

It began with <a href="https://www.apartments.com.au/new-apartments/amargo-6-12-sixth-avenue-palm-beach-qld-4221">Flourish Amargo</a>, the first project released under the Flourish brand. Rather than competing at the ultra-luxury end of the market with oversized half-floor and full-floor residences, Sherpa focused on creating lifestyle-driven apartments supported by resort-style shared spaces.

Amargo introduced more than 800 sqm of rooftop amenity, combining wellness facilities, heated pools, entertaining areas, cabanas, pizza ovens and private dining spaces into what was designed as an extension of residents' homes rather than a facility used only occasionally.

[smartcode_project:default project_id=146527 project_image_fid=366550]

That approach continued with Flourish Oasis, where the same amenity-led philosophy was refined into a more boutique development. Strong demand from Sherpa's growing VIP database saw much of the project sold before it reached the broader market, reinforcing buyer appetite for apartment communities centred around shared lifestyle experiences.

Flourish Amargo is slated for completion mid-way-through next year, with Oasis to be delivered by late 2027. Flourish Soleira is expected to complete in 2030.

[smartcode_project_cta:default project_id=150017]

Sherpa takes amenity to the sky as Flourish Soleira captures booming Palm Beach demand

As apartment living continues to evolve across Sydney's growth corridors, the quality and distribution of shared spaces is increasingly shaping how residents experience home. Rather than functioning as add-ons, amenities are being embedded into the daily rhythm of a building, supporting everything from quiet retreat to social interaction, often within a single vertical community.

At <a href="https://www.apartments.com.au/new-apartments/aeris-melrose-park-nursery-street-melrose-park-nsw-2114">Aeris</a> in Melrose Park, this approach is resolved through a layered amenity offering that unfolds from ground level through to its upper podium. Developed by <a href="https://www.apartments.com.au/developers/sekisui-house-australia">Sekisui House Australia</a> in partnership with Hankyu Hanshin Properties, the project introduces 468 apartments across two towers and a mid-rise building, positioned at the highest point of the broader masterplan.

[smartcode_project:default project_id=426 project_image_fid=359199]

The amenity experience begins at street level, where two courtyards sit within a landscaped setting that connects residents to the wider network of parks and green spaces. These green spaces are not isolated pockets but part of a wider pedestrian network that links Aeris to the surrounding <a href="https://www.apartments.com.au/developments/melrose-park-nsw-2114">Melrose Park</a> precinct, including Central Park, future schools, and the Town Centre opening in July 2026. The result is a transition that moves from public to private without abrupt boundaries, allowing residents to pass through shaded, tree-lined environments before reaching the building itself.

Moving upward, the focus shifts to the level five podium, where the primary communal facilities are concentrated. This space brings together a 16-metre swimming pool, outdoor seating areas, and a communal BBQ zone arranged to take advantage of elevated outlooks. Seating is positioned beneath pergolas, creating pockets of shade that extend the usability of the space throughout the day. The pool edge aligns with views toward the wider district, reinforcing the sense of elevation that defines the project’s positioning.

In the adjacent building, this is complemented by quieter, more contemplative spaces, including an outdoor cinema set within the same level. Positioned to operate primarily in the evening, it introduces a different tempo to the shared environment, shifting from daytime activity to after-hours use without requiring separate zones.

[smartcode_project:default project_id=426 project_image_fid=360299]

The podium also accommodates an intimate private resident gym. Located on the lower levels, it gives residents convenient access to fitness facilities without leaving the building.

Above, the elevated podium sky deck extends the amenity offering, providing additional open-air spaces with elevated outlooks across the surrounding landscape. While more restrained in program, this upper level reinforces the project’s vertical progression, from ground-level greenery to elevated outlook, allowing residents to move between distinct spatial conditions within a single address.

This distribution of amenities reflects a deliberate response to how residents use space across the day. Sekisui House Australia Sales and Marketing Director Peter Kalaf points to the role these shared areas play in shaping buyer demand. Aeris has been conceived as more than a collection of apartments, with the podium pool, gym and outdoor cinema forming part of a broader lifestyle offering that extends the home beyond each individual residence.

[smartcode_project:default project_id=426 project_image_fid=360300]

What distinguishes Aeris is not the inclusion of these elements individually, but how they are arranged in relation to one another. Active, social, and passive spaces are layered vertically rather than separated, allowing residents to choose between them without leaving the building or moving far from their apartment. This proximity supports both routine use, such as a morning swim or evening workout, and more occasional gatherings, whether around the BBQ area or within the cinema setting.

The amenity design also sits within a broader framework of connectivity across Melrose Park. The Melrose Park Town Centre, anchored by Coles and Dan Murphys, features a mix of retail, dining, health and lifestyle offerings, bringing everyday convenience closer to residents. By the end of the year, more than five hectares of parks and open space, equivalent to around seven football fields of green space on residents' doorstep, will further enhance the precinct, allowing the internal facilities at Aeris to operate as an extension of the wider neighbourhood rather than a substitute for it.

Construction at Aeris continues to gather momentum, with ground floor slabs expected to be completed in late 2026 before the first sections of the buildings begin to rise above ground.

[smartcode_project_cta:default project_id=426]

Elevated amenity anchors daily life at Aeris, Melrose Park

Commercial Property

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An investor from Victoria snapped up the tilt panel building a night before the scheduled auction for $1.15 million in Arundel, Queensland. 
The building at <a href="http://ecomms.raywhite.com/collect/click.aspx?u=jRYOrR8N39QzG/Nyy8oj1MsQ8lDBqOLeIia6FoWINQH1URtvOAqHCyKtA8/jX0HWpn2KtcaACKM0VnlFB4qJbQufvtgntM0SKraVoI38zcbumDKcSaWvgop0s0WXac4IduwAVG1Dnz2+Qj+4R4PbGu9E7+g9TtGY&amp;rh=ff00511d4814436f9c164c46d74a9f452104cc19" target="_blank" rel="noopener noreferrer" data-auth="NotApplicable">1/53 Newheath Drive</a> comes with a 500 sqm building area including a showroom, an office and a warehouse.
It is currently home to national tenant Access Hardware.
The property was sold by Ray White Commercial Gold Coast duo Jared Johnson and Lachlan Marshall, alongside Property Specialist Brandon Johnson. 
"We had more than 65 enquiries throughout the campaign and potential buyers particularly appreciated the fact that such a well-known tenant was in place,” Jared Johnson said.
<img src="https://www.urban.com.au/images/2019/9/9/Newheath%20interior.png" alt="">
Access Hardware had just signed a brand-new 3x3-year lease generating an annual income of $86,350 net plus GST plus outgoings.   “The property is strategically positioned in one of the Gold Coast’s premier and tightly-held industrial and commercial precincts."   “It’s a front unit with exposure, has multiple exclusive use car parks, industrial height roller door, solar panel system and electric sliding glass entry door in a boutique gated complex,” Marshall said.  
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j.ballantyne1990-6AQqhLzZaK

Arundel's Access Hardware building sold for $1.15 million pre-auction

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The Furqan Islamic Association of Western Australia Inc has snapped up a two-year lease with an option to buy in Perth’s Belmont.
The property at <a href="http://ecomms.raywhite.com/collect/click.aspx?u=jRYOrR8N39QzG/Nyy8oj1MsQ8lDBqOLe+ogmk3CjBYgeqD5dxG9NpLnRomYprx7cJ7tJAHec5NFcwVcSjsZROMiwJwnHUnvHopkZo5c9rrfgJHpQ0/6vRbCd9l5EpdtDqYVRlw/iBUmuBSqNAus2OQ==&amp;rh=ff0050508382e85fe0c7e8c3604f91db861394f7" target="_blank" rel="noopener noreferrer" data-auth="NotApplicable">91 Robinson Avenue</a> comes sits on a 3,865 sqm parcel of land with 1,100 sqm of office/warehouse on the site.
It was leased at the market rate and came with an option to buy.
The property was marketed by Ray White Commercial (WA) Director Chris Matthews.
<img src="https://www.urban.com.au/images/2019/8/26/2%205.JPG" alt="">
Mr Matthews said in a slower market, he was able to achieve a result because the property was under-developed and had a large amount of on-site parking.
<img src="https://www.urban.com.au/images/2019/8/26/3%207.JPG" alt="">   “We listed the property back in January 2018 and were in discussions with the buyer for 17 months before the contract went unconditional."
"To secure the option to buy, the tenant was able to provide terms to show their upfront commitment and high likelihood of exercising their option to purchase the property within the next 12 to 24 months," he concluded. 
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Furqan Islamic Association secure office warehouse lease in Perth

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A three level red brick building in Clifton Hill is on the market with $4.9 million hopes.
The property at 24 Groom Street with an area of 925 square metres is on a corner site.
It has a site area of 340 square metres plus additional seven off street car parks. 
The vendor has recently completed a strip out of the until recent commercial office use of the building which now exposes the cavernous building spaces and the fabric of the structure. 
Gray Johnson director Brett Simpson says these works also expose the opportunity to create a single floor repurposing.
“There is even an opportunity to add mezzanine floor spaces,” Brett Simpson adds. 
“The character is derived from the history of uses dating back to the 1900s with the 24 Groom Street building acquiring its history and various uses along the way. 
“For instance, this building was taken over in September 1911 by the then Department of Defence and became the home of the Commonwealth Harness, Saddlery and Leather Accoutrements Factory, with an occupancy that extended until the late 1920s as a manufacturer of equipment for the armed forces. 
“I understand that during this period it became the provider of harness equipment for the Battle of Beersheba and other major World War One military campaigns. 
“There is still a commemorative plaque on the building façade acknowledging the contribution the building made to the Australian Military Forces from 1912-23. 
“During 1930s the building became the Bourke &amp; Cooke boot factory, before Zig Zag Paper took over manufacturing their legendary roll-your-own cigarette papers here.”
<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/2019/8/14/GJ%2024%20GROOM%20STREET%20STRIPPED%20OUT.jpg" alt="">
In 1973, it was acquired by National Can Industries to manufacture many of Australia’s famous tin can packaging here.
National Can on the closure of manufacturing here continued to occupy the building as their corporate office until recently. 
“It holds a Mixed Use zoning with city views able to be accessed from the property’s location that is just off Hoddle Street and the access to the Eastern Freeway,” Simpson said. 
“The property has two street frontages of 16 metres to Groom Street and a side frontage to Yarrabing Lane of another 25 metres. 
“Now exposed by the strip out works are the historic building features including exposed timber beams, ceilings and floors, brickwork, with a goods lift remaining in place.”
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Historic Clifton Hill commercial building listed for $4.9 million

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A single level Daly Street commercial property has been auctioned off in the city fringe suburb of South Yarra.
Previously a car detailing workshop, the Lot 653, 11-17 Daly Street consists of a 47 sqm building area, suitable to a multitude of uses with the potential for an 8-level extension (STCA).
With over 30 attendees, there were three bidders with the successful buyer securing the property for $456,000.
Ryan Milivojac and Charles Cini of CVA auctioned off the property.
 
The building rate is $9,702.13 per metre squared.
Situated just 3.5km* from Melbourne’s central business district, the property benefits from immediate access to public transport with South Yarra Train Station as well as trams running along Toorak Road and Chapel Street.
The site is also within walking distance of major attractions such as the MCG, AAMI Park, Rod Laver Arena, The Jam Factory and the Royal Botanic Gardens.
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South Yarra commercial premises sold for $450,000 at auction

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Craig McKellar of CVA has just leased a commercial space in the Craigieburn Plaza at Craigieburn.
The fully fitted 86sqm property at Shop 5, 32-38 Craigieburn Road was leased on a 3 + 3 + 3 year lease term.
Universal Real Estate are the lessors at a rate of $50,000 per annum equating to a building rate of $581.40/sqm.
featuring a frontage of 7 m, the property contains three separate offices, reception, staff amenities and in excess of 300 public car spaces.
Located within a recently developed estate, the property is within close proximity to Dynon Road, CityLink and Melbourne's CBD.
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Universal Real Estate leases Cragieburn Plaza space

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Florida Dry Cleaners have sold their Cross Street, Double Bay commercial premises for $10.25 million to an Asian investor.
The trophy asset, which also comprises five retail shops and a commercial office, has been owner occupied by the Gordon family who run the dry cleaners for over a generation.
It was sold under the hammer at a record 1.5% yield. There were nine bidders for the building which sold with a $31,000 per sqm land value.
The low rise potential development of the property at 10 Cross Street has a current net income of $162,829.50 per annum.
Womens clothing store Alex &amp; Harry occupies one of the tenancies, along with the cafe Bar Lanziano.
There is an entitlement to utilise the laneway space.
Colliers International agents Miron Solomons, Matt Pontey and Nick Lumley secured the sale.
“This is a generational asset held by a private family linking the two main arteries of Double Bay; Knox and Cross Street,” said Solomons.
“We are expecting a great deal of demand for this asset, driven by the intrinsic value of freehold property in Sydney’s most prestigious waterside suburb as well as the property’s diverse income streams and future development potential.” 
Matt Pontey said Double Bay continues to drive demand for investors.
<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/2019/7/15/10%20Cross%20Street%202.jpg" alt="">
The five retail shops plus a first-floor commercial office have a net income of $162,829.50 per annum.
The flexible B2 Local Centre Zoning comes with a FSR of 2.5:1 and a height limit of 14.7 metres.
“Double Bay is buzzing with activity with the redevelopment of Double Bay and Cross Street carpark, as well as developments such as 1788 by SJD Property and The Hunter by Toga.
"The area has seen substantial development activity over the last 12 months, with developers competing for luxury residential sites along Cross Street.”
“This is an opportunity to buy a freehold asset with part ownership of the pedestrian thoroughfare linking Double Bay’s two iconic retail streets, Cross &amp; Knox Street.”
Solomon's and Pontey sold the neighbouring property 12 Cross Street, in 2018 to the Hong Kong media family, the Ma’s, achieving a then record yield of 1.8% return.  
 
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jrobinson-rf4aSBido9

Double Bay's Florida Dry Cleaners premises sells for $10.25 million

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GUEST OBSERVATION 
Here’s a glimpse at what’s happening—and why—in the Australian commercial real estate market from the measurement perspective of asking price for rents. There are many experts who give advice on how to understand the current trends in commercial real estate.
Whether you’re planning to buy, sell or lease, these expert opinions are worth noting.
Experts focus on “prime”
Most of the published information about commercial real estate relates to the highly visible “prime” end of the market. Sometimes this can give a distorted view of the whole market.
We, at <a href="https://www.commercialpropertyguide.com.au/" target="_blank">Commercial Property Guide</a> reveal the data associated with the less examined small and medium size market. The value of commercial real estate is closely tied to the rent a property can command. This is much more relevant for commercial than residential real estate. A study of what landlords are asking for commercial rents over time can give an insight into the likely future.
<img src="https://www.urban.com.au/images/2019/7/9/CPG%201.JPG" alt="">
National Market Overview 
The Australian market is made up of a relatively small number of significant markets. The three major markets are Melbourne, Sydney and Brisbane which account for the lion’s share of the national commercial real estate industry. These metropolitan markets respond and react to many local events.
There are, however, national and international themes that can be seen to have a bigger influence on how they perform. Rarely do the three big metropolitan markets act in unison. Commercial real estate has been experiencing a cycle that has lasted 3 years between lows.
The national asking rent increases peaked in early 2017 at very high levels and have been trending down ever since. Exceptionally glum periods were at the end of 2018 and the time prior to the national election when rent increases dropped below zero. Sydney has had a number of peaks and troughs in the past few years.
These cycles have been about 10 to 14 months from peak to peak. While Sydney commercial real estate rent increases sailed through previous national elections unfazed, this time was different. Sydney office rents have risen since the election.
Melbourne and Brisbane are not synchronised with Sydney. Melbourne rent increases were in a slow and graceful decline. However there has been an upswing in lease prices since the middle of 2018. While Brisbane rents have managed only increases of 1% every three months at best.
Office asking rent increases have been in what stockbrokers would call a “trading range” for many years starting in January 2017 with a slow declining cycle peak in each of the three successive cycles.
The explanation could be the rapid surge in coworking office space flooding the lower end of the small office market. You don’t need to be a behavioural economist to know office landlords are hoping for an end to decreasing rents.
At the more granular level there is variation in asking prices for office rents between major cities and even suburbs within the same city. For example, different office rent increases do exist between adjacent Prahran and Cremorne in Melbourne. Retail rents are a much more interesting picture.
The Retail market was going down for quite some time, but since July 2018, retail rents have been continuing to increase. By comparison, the industrial property market has been travelling well and has enjoyed reasonably stable rent growth over the last 5 years.
However, there was a mysterious bout of Christmas fear that started in October and didn’t show signs of improvement until this January. There was a fresh round of Amazon Armageddon about warehouse demand stories that spooked the industrial landlords and their real estate agents.
The fear seems to have evaporated as quickly as it arrived.
 Property Value based on Rent Return
Commercial real estate properties are valued on the basis of the revenue they can generate. The change in rent not only affects what the tenant pays, but also the value of the landlord’s asset.
The consensus of industry experts is that a “tight market” is driving future rent growth for Melbourne and Sydney - caused in part by leasing decisions being brought forward to beat other property seekers to the best available leases. More experts have identified the affordability of the Brisbane market driving its leasing demand.
These opinions are worth considering.
SIMON ROSE is the CEO of <a href="https://www.commercialpropertyguide.com.au/for-sale/" target="_blank">Commercial Property Guide</a> an independent commercial property website that focuses on news, views and tips about commercial property and the industry.
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Accurate commercial property measurements are worth 1000 surveys: Commercial Property Guide

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Commercial real estate investment in Australia reached a new record level of $42.6 billion in transactions during the 2019 financial year (FY19), up 22% from the $34.9 recorded in FY18, according to Cushman &amp; Wakefield research.
Their research showed, during the financial year, investment in office assets reached a new high of $23.1 billion boosted by a number of major transactions as the financial year came to a close.
The transactions they refer to are Dexus acquiring 80 Collins Street, Melbourne for $1.476 billion, and the sale of 100 Market Street and 77-85 Castlereagh Street, Sydney to Blackstone for $1.52 billion.
Office investment volumes were highest in New South Wales which recorded a total of $10.2 billion in FY19, with Sydney remaining the most active market for office transactions in FY19.
Cushman &amp; Wakefield research shows that Sydney CBD prime gross effective rents grew 9.1% in the 12 months to June 2019, well above the long-term average, while vacancy declined to 4.1%.
Cushman &amp; Wakefield’s Head of Research, Australia and New Zealand, John Sears, said, “Investment in Australian commercial property remains in strong territory, with sustained investor demand for office assets across the country as rents ran higher and vacancies tightened. We saw landmark office deals in Sydney and Melbourne recently completed, and the pipeline remains strong. In Brisbane, the investment outlook remains positive and a number of office assets are commanding strong investor interest and are likely to transact in Q3.”
“With the bond yield falling around 130bps in the 2019 financial year and office yields remaining steady, the relative attraction of these assets also helped buoy investor demand. However, we are not yet calling the bottom of the yield cycle. Solid rental growth, improving funding costs plus the blowout in the spread to bonds suggests there is still room for commercial yields to decline further,” Mr Sears said.
Foreign investment also trended higher in FY19, recording a total of $19.3 billion and accounting for 45% of all transaction volumes.
Multinational investors such as Blackstone were among the major sources of foreign investment into Australia, while Canada and Singapore were also prominent sources of inbound capital.
Cushman &amp; Wakefield’s Managing Director CRE NSW, Simon Fenn, said, “The combination of stock withdrawal, the development of quality pre-committed supply and an unprecedented infrastructure spend is drawing both local and offshore capital.”
“With CBD stock unable to meet demand, investors are increasingly looking to metro areas that are also experiencing strong leasing conditions.”
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Commercial real estate investment reaches new record high of $42.6 billion

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An iconic Dural location, the site of the Hargraves Nursery, has been listed for sale.
The 1.63 acre site, zoned RU6 Transition, SP2 Infrastructure, has spent 47 years as a "highly regarded Dural destination".
Situated at <a href="https://www.realestate.com.au/property-house-nsw-dural-131401174" target="_blank">630 Old Northern Road</a>, it is prominently positioned along the Dural business hub.
The property features, road frontage and exposure of approximately 80 metres with dual access along two boundaries.
Infrastructure on the holding includes, a home/office glass and shade houses, hardware and water retention facilities.
It has a clear view with Blue Mountain vistas.
It is located within minutes to Round Corner and Castle Hill.
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Hargraves Nursery site in Dural listed

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The McCrohan's Building, built in the late 1920s in Melbourne's Fitzroy, has hit the market.
The building at <a href="https://www.realcommercial.com.au/property-industrial+warehouse-vic-fitzroy-503234478" target="_blank">304-310 Gore Street</a> was constructed in 1929 for William Harold McCrohan. It was a motor garage and was known as McCrohan's Garage.
Built in the Greek revival style with red and clinker brick, the warehouse-style building later became a factory for Filtration and Water Sifting Pty Ltd  and then Sulphates Pty Ltd.
Well preserved, it has a gabled facade parapet, set between two pylon motifs.
It is currently leased to Blue Circus Studios, a circus show production company for theatres and private events. They also train in the warehouse.
<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/2019/6/25/304-310%20Gore%20Street%20Fitzroy2.jpg" alt="">
They pay $64,580 per annum for the property with lofty ceilings and exposed steel trusses.
Gray Johnson agent Matt Hoath has the listing.
 
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