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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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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