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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Renewal SA has a number of industrial projects predominantly situated to the north and south of the Adelaide CBD, according to the latest report from Herron Todd White.
SA Renewal works to promote investment in the state through private sector access to government land holdings.
Projects include the Grand Trunkway Estate and Port Direct developments to the north-west of the CBD and close to Port Adelaide, Edinburgh North to the outer north, Tonsley to the south and Seaford to the outer south. 
The Grand Trunkway Estate is a General Industry zoned development of 15 hectares and has strong transport links to the Outer Harbour, Interstate Main Rail Line and the Port River Expressway.
The valuers noted that Renewal SA has also retained land for further stages and to accommodate occupiers with larger land requirements such as. 
Further north-west is the Port Direct development of 27 hectares which has access to the Outer Harbor import/export facilities and to the facilities within the Naval Shipbuilding Precinct which is within 1.2 kilometres. 
The Northern Adelaide Food Park at Edinburgh North is proposed to be the state’s premier food manufacturing precinct.
The site was previously earmarked for the Parafield Airport, however concerns from tenants and purchasers relating to the ownership of the land have caused the government to reconsider.
The Seaford Industry Park project commenced in 2004 with the aim to support food and wine businesses with links to McLaren Vale.
The development is zoned General Industry and aims to support the fast-growing suburbs south of the Adelaide CBD. 
Tonsley, the former Mitsubishi Motors assembly plant, is in the process of being completely re-developed into a mixed-use district with residential, high-value manufacturing and commercial allotments.
The Main Assembly Hub, an 80,000 square metre warehouse, has been adapted for re-use as the centre of Tonsley’s social activity and features shops, cafes, services and facilities.
The General Motors Holden site of approximately 122 hectares at Elizabeth (north of the Adelaide CBD) is reportedly under contract to an interstate developer with a large portion of the site to be transformed into an innovative business park.
The report indicates that Holden will retain a significant portion of the site as a spare parts operation and the history of the site will also be recognised with a proposed heritage and hospitality centre.
However the above developments are not considered to be situated within prime industrial locations the valuers noted.
The premier industrial precinct within Adelaide is Regency Park, which is partly due to its proximity and ease of access to major transport routes.
"The North-South Corridor is integral to the delivery of the 30-Year Plan for Greater Adelaide," it said.
"At present, there are a number of stages and ongoing works underway for the project, spanning some 78 kilometres between Old Noarlunga and Gawler which include a series of strategic non-stop links to connect the expanding industrial and residential growth areas."
Herron Todd White Research and M3 Property Research have seen yields within well located, prime industrial locations tighten.
Their research indicates prime industrial yields across all precincts are typically between 7.75% and 8.75%, whilst secondary yields are between 9% and 9.75%.
Market reports indicate that owner-occupiers have become a prominent purchaser group since the progressive phase-out of stamp duty in South Australia from 1 July 2016.
This, as well as the relatively low and competitive interest rates, has benefited purchasers and the valuers forecast it will continue to do so in the near future after the full abolishment at the end of the 2017/18 financial year.
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j.ballantyne1990-6AQqhLzZaK

SA Renewal industrial projects underway in Adelaide: HTW 

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Two cottages that have been restored for commercial use in Granville are being offered to the market. 
The listing is held by Victor Sheu, Raymond Ahsan and Robert Dowby from CBRE Western Sydney. 
Zoned B4 Mixed Use to suit various commercial usages (STCA), the two cottages at <a href="https://www.realcommercial.com.au/property-land+development-nsw-granville-503201874" target="_blank">70-72 Railway Parade</a> features a total 273 sqm of floor area including 153 sqm Lot 9 and 120 sqm Lot 10. 
<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/2019/6/19/granville%202.jpg" alt="">
The freshly restored cottages come with internal bathroom and full kitchen facility, ducted air-conditioning, as well as data cabling and powerpoint provision. 
It is situated just 200 metres to Granville Station and town centre, offering the opportunity to invest or occupy a prime location.
The expressions of interest campaign ends June 25.  
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Two cottages restored for commercial use offered in Granville

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The former Surry Hills home of restaurant supply institution Chefs' Warehouse has been listed for the first time in over three decades.
The three storey brick office building at <a href="https://www.propertyobserver.com.au/%20%20%20https:/www.realcommercial.com.au/property-offices-nsw-surry+hills-503225478%20%20%20" target="_blank">111-115 Albion Street</a> had been the longtime home of Chefs' Warehouse, which supplied the local hospitality industry.
It was known by the iconic giant egg beater attached to the building facade.
Now the beater is to be installed outside a Regent Street, Redfern building after former Chefs Warehouse co-owners Christopher Hazell and David Furley sold the business to retire.
The business was bought by Chefs' Warehouse long-term manager Melissa Wyner, who, given the $8 million sale last year of the Surry Hills building, had to relocate.
She set up shop in Redfern's old Tongan church which opened in February.
<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/2019/6/19/Albion1.jpg" alt=""> One of the current floors in the vacant building.
"We sold the building and the new owner wants vacant possession," Hazell told Good Food last year.
Hazell had paid $2.65 million in 2002.
Since its trade in 2018, the property has undergone a multi-million dollar refurbishment and comes with plans designed by award winning architects ACME.
The building was also previously home to the Sydney Technical College, which was in operation from the 1950s to the late 1980s, skilling students in carpentry, tiling and engineering.
It has a net lettable area of 970 square metres across its three levels. It sits on 355 square metres and has three street frontages.
<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/2019/6/19/second-level.jpg" alt=""> Plans for the second level.
CBRE Sydney agents Gemma Isgro, Nicholas Heaton and Nick Wheatley have the listing.
Gemma Isgro said it will likely be utilized as a creative office space.
“The property’s B4 Mixed Use zoning allows for a range of uses, however, we believe the highest use will be creative office space, given the unprecedented demand in areas like Surry Hills where we are seeing A-Grade rents achieve up to $1,100 per square metre, gross,” Isgro said.
Nicholas Heaton said the building would make a great HQ for a creative firm or, given the blue-chip real estate and location, would provide an incoming investor with a strong and stable income.
  
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jonathanchancellor-7SQnKwU6yx

Former Chefs' Warehouse, Surry Hills building listed for first time in three decades

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Two adjoining Little Collins Street properties sold for $22.35 million in a heated auction which saw a number of well known interested parties battle it out for the prime commercial space.
The Melbourne Club, the private social club established in the 1830s who are located across the road, were an unbidder, as was Andrew Cannon, the honorary consul to Monaco.
The buyer was Rob Phillpot, co-founder of tech business Aconex, who bought the two separate properties at <a href="https://www.realcommercial.com.au/property-retail-vic-melbourne-503178230" target="_blank">37 Little Collins Street</a> (below) and <a href="https://www.realcommercial.com.au/property-retail-vic-melbourne-503178246" target="_blank">39-41 Little Collins Street</a> (above).
He paid $16.5 million for the bigger 39-41 Collins Street which is currently tenanted by Italian restaurant Lupino.
It was sold by the Mathews family.
There were 91 bids for the three level building which drove the price to more than double the vendors reserve price. It sold on a yield of 1.16%.
Next door, a two storey building currently tenanted by Mathew McConnell’s Bar Lourinha drew 66 bids with Phillpot paying $5,850,000. 
<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/2019/6/13/Collins2.jpg" alt="">
Colliers International’s Melbourne City Sales team of Oliver Hay, Daniel Wolman, Chris Ling and David Sia handled the auction campaign.
 Hay said the interest generated was unparalleled, resulting in more than 250 enquiries, 49 inspections and 52 contracts distributed. 
The interest was primarily driven by investors and future owner-occupiers desperate to secure an asset in the tightly held ‘Paris End’.
“With the favourable economic conditions, we are seeing countless active buyers and under-bidders from such campaigns eager to secure commercial assets that come to the market, particularly properties with rental upside and value-add opportunities within the Melbourne CBD grid,” Hay said. 
Late last year Phillpot <a href="/news/melbourne-construction-digital-entrepreneur-rob-phillpot-scores-both-block-gatwick-penthouses">bought the two penthouses</a> atop The Gatwick Hotel, the heritage-listed building in St Kilda renovated on The Block.
 
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jrobinson-rf4aSBido9

Melbourne Club miss out on adjoining Collins Street Paris End buildings

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The 123-year-old global real estate brand, Stanton Hillier Parker, has announced it will re-open its real estate arm in Australia.
It will be under the guidance of managing partner Eugene Evgenikos who said he was excited to re-launch a real estate brand with a global property legacy, almost 20 years since it was last seen in a real estate agency capacity in Australia. 
“We’ll be focussing on providing our clients with world-class service standards, expert advice and outstanding results underpinned by a passionate, highly-experienced management team,” said Mr Evgenikos, who was at Knight Frank in NSW metropolitan sales.  
“Leveraging our 123-year strong global property legacy, we’ll be creating truly invested partnerships that drive results and help our clients create a property legacy of their own.”  
Stanton Hillier Parker intends to offer commercial sales and transactions, capital markets advice, leasing, asset management, residential project marketing and valuations to private, institutional and government clients. 
The company has opened offices in the Sydney CBD and Mascot with a valuation office in Parramatta.
Stanton Hillier Parker is currently actively sourcing a new office in the Melbourne CBD. 
“Our unique proposition in the market is the opportunity to grow through an equity partnership model – in the same way as Stanton Hillier Parker’s major global real estate agency business started,” he confirmed.  
“Our brand pedigree and international recognition is a platform we will build on in Australia, and we look forward to announcing new offices and partnerships as we grow the platform.”
 new management, offering boutique property advisory services to a diversified range of clients Australia-wide. 
Stanton Hillier Parker was originally formed via the merger of Hillier Parker, first established in 1896 in the United Kingdom, and Stanton &amp; Sons Limited, established by Richard Stanton in Sydney in the late 1800s.  
The company has a rich heritage in Australia, having been responsible for the development of the Sydney suburbs of Rosebery and Haberfield. Richard Stanton was also the founder of the Real Estate Auctioneers and Agents’ Association of New South Wales.  
During the 1970s the company operated around the world, with businesses in Scotland, Australia, France, the Netherlands, Belgium, Germany, Italy, Portugal, Spain, Sweden, Switzerland and the United States.  
 
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Stanton Hillier Parker relaunches Australian real estate arm after two-decade absence

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Former National Soccer League coach Tony Vrzina has secured $2.7 million from the sale of a vacant office/warehouse building in Hawthorn East. 
CBRE’s Sandro Peluso, Josh Twelftree and Jimmy Tat negotiated the off-market sale of the 31 Hall Street property on behalf of the veteran coach.
Vrzina led Sydney Croatia in the 1990s before coaching Victorian Premier League side Fawkner.
In his coaching career he also led the Melbourne Knights, Preston, George Cross and Bulleen. 
The 460 square metre Hall Street building has been purchased by an investor seeking to capitalise on demand for social infrastructure in the increasingly affluent commercial and industrial precinct by leasing the building to a health-care related tenant. 
“While Hawthorn has always been popular with office tenants and commercial owner occupiers, we expect to see a shift towards more social infrastructure uses in the area,” Peluso said.  
“This will underpin growing interest from medical and child care operators, particularly in light of the growing number of office developments in the area.”  
Peluso noted that the one-time Hawthorn East industrial precinct comprising Hall and Cato Streets had been almost entirely converted to high end office and boutique owner-occupied properties, with 31 Hall Street representing one of the last remaining industrial assets.
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Soccer coach Tony Vrzina kicking goals in Hawthorn East with $2.7 million warehouse sale

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The Walker Corporation has won a tender to lease up to 43,800 square metres of A Grade office space in their Parramatta Square development to the NSW Government in 2021.
Construction of the four tower $3.2 billion Parramatta Square precinct underway, with the first tower (Tower 4) expected to be completed in November 2019 and the whole project due for completion in 2022.
The NSW Government has agreed to a 12 year lease, with two further five year options, for the space in 6 Parramatta Square, which was granted development approval last year along with 8 Parramatta Square.
Walker originally planned to build a 70-storey apartment project in it's place but oversupply concerns has prompted him to ditch his proposal.
The two towers combined will provide up to 125,000 square metres of space, with an end value of $1.7 billion.
Towers 3 and 4 fully pre-committed, with lessees including National Australia Bank and the NSW Government – secured in an earlier tender.
Mr Lang Walker, chairman of Walker Corporation said “Parramatta Square is taking shape quickly and the total project is now 75 per cent pre-leased with over 170,000 square metres of high quality office space committed."
“We expect to experience a strong flow of pre-leases off the back of the two anchor tenants signing long term leases in the project, which is one of the largest urban renewal projects in the country and will see Parramatta city rival Sydney’s CBD in terms of amenity and high quality commercial space”, he added.
The mixed-use development will accommodate the four commercial buildings – incorporating a food and beverage precinct offering a variety of retail, cafes’, and restaurants.
The precinct features the University of Western Sydney Campus, community facilities, a civic building, community centre, and library.
Walker's plans in Brisbane's Fortitude Valley<a href="/news/timber-lang-walker-scraps-aspire-tower-sydneys-tallest-apartment-proposal-at-parramatta"> </a><a href="/news/timber-lang-walker-scraps-aspire-tower-sydneys-tallest-apartment-proposal-at-parramatta">for a residential tower</a><a href="/news/timber-lang-walker-scraps-aspire-tower-sydneys-tallest-apartment-proposal-at-parramatta"></a> were recently scrapped. Plans for the building to become two commercial towers were later also scrapped.
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Walker Corporation's Parramatta Square gain NSW Government tenancy

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Two Gold Coast commercial properties have settled for a combined $4 million in a week.
Both properties sold above their reserve.
AMP Ltd paid $2.35 million under the hammer for a 600 sqm retail building at 10 Harvest Court, Southport (pictured above). The price was $300,000 above the reserve. 
The Harvest Court property, which drew 11 bidders, is located next to the Ferry Road Markets precinct and adjacent to a property acquired by AMP two years ago. 
The property has a site area of 1500 sqm with development approval for a three-storey medical-office building. 
<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/2019/4/11/7-8-84%20Brisbane%20Rd1.jpg" alt="">
The second property, an office-retail holding at 7-8/84 Brisbane Road, Labrador (pictured above), sold to a Gold Coast investor for $1.65 million.
It has a net lettable area of 376sqm with an A-grade tenant on a long-term lease. The sale was struck on a yield of 8.65 per cent. 
Ray White Commercial’s Michael Willems, who negotiated both sales, said the Labrador property drew six registered bidders and was highly sought after. 
“The vendors of both properties were determined to sell at or prior to auction, and we’re pleased to have achieved a very strong result from the campaign,” said Mr Willems. 
Ray White Commercial Gold Coast director Greg Bell said “There’s been a general rise in capital flowing into commercial property nationally, and the Gold Coast is shaping up as a prime target market to capture some of this investment,” said Mr Bell. 
“These auction sales, both of which were well above the reserves set by the vendors, affirm the underlying appeal of the Gold Coast commercial market to both large and small investors.” 
Ray White Commercial is expecting the sales momentum to continue for its upcoming mini-auction next month which will bring eight properties to the market. 
The program is being held from on May 2 at the Gold Coast Turf Club in Bundall.
Properties on the program include: 
<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/2019/4/11/Yarrabilba%20hero3.jpg" alt="">
· Six prime retail shops at 9-13 Waldron Street, Yarrabilba (pictured above), to be sold as individual lots
<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/2019/4/11/11-13%20Olympic1.jpg" alt="">
· An industrial property at 11-13 Olympic Circuit, Southport (pictured above), on a 2002 sqm site
· A site tenanted by Mitre 10 at 9 Stewart Road, Currumbin Waters.
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Commercial sales set the tone for Gold coast commercial property in 2019: Ray White

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A fully-tenanted standalone Coolum commercial asset has sold for $1.1 million.
Ray White Commercial Noosa and Sunshine Coast North Property Consultant Tracey Ryan, held the listing for the building.
Situated at 12 Williams Street, the purchaser was a local investor.
<img src="https://f.datasrvr.com/f1/419/45945/Coolum_22.JPG">
The property, which comes with a 358 sqm building area and 620 sqm site area, is currently occupied by Coolum Wellness Hub, Rory Williamson School of Dance and Evolve Fitness.
Ms Ryan said the exceptional standalone building was in the heart of Coolum Beach’s retail professional services area and was opposite the proposed new 43-townhouse Allura development.
“The asset was originally purpose-built for an owner-occupier and comes as two-levels, with off-street parking and a goods lift, with the possibility of being converted to passenger,” she said.
“The three offices include air-conditioning and individual amenities. The level one spaces could be reconfigured to suit a variety of businesses, including medical, if the lift was converted." “All businesses are long-standing, were sold with 3+3-year leases in place, and delivers $71,000* net return p.a." “The long-term owner was looking to liquidate the asset and relocate to Brisbane. The local investor was looking for a standalone with strong leases in place and an upside,” Ms Ryan concluded.
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Fully tenanted Coolum commercial building sold for $1.1 million

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The listing of the landmark building, Wirrara in Potts Point coincides with the lease of Arida formally expiring this August.
The luxury retailer of international clothing brands and distinctive interiors has been on a five year lease at $158,000 a year, the local listing agents have advised potential buyers.
It has been trading there for almost two decades.
The tenancy intentions of Arida have not been made public, with Hemmes leaving it to the next owner to negotiate.
The neighbouring Hemmes-run restaurant The Fish Shop has been on a $170,000 a year lease which Hemmes could continue subject to the buyers' wishes.
It has been many restaurants through the decades including Juillet's, Moran, Giraffe, Clochemerle, Lotus and Merivale.
At one point it was leased by Thelma and Terry Clune, the gallerists, who are best associated with the adjacent acclaimed Yellow House. 
The corner building has been listed for sale with a reported $11 million plus guide. 
It has been offered through Alan Levy from Metro Commercial inconjunction with the local R&amp;W office.
The building has been scheduled for May 8 auction by the unassuming Justin Hemmes. 
However the seemingly full of themselves listing agents claim in the marketing it was "without doubt a listing of nationwide magnitude, the coming to market of this block is a headline-worthy event."
Set in the corner of Macleay Street and Challis Avenue, the mixed-use freehold investment located features four large apartments and two retail shopfronts. 
It boasts Merivale’s Fish Shop at street level and the Arida clothing retail outlet next door. 
There is current $520,950 total rental income with $328,550 from the shops and $192,400 from the four upstairs units per annum. 
The total internal 741 sqm area comprises 300 sqm of the ground floor, 225 sqm of the first floor, and 216 sqm of the second floor. 
There are $10,000 estimated council rates, $93,000 water rates and $55,000 land tax. 
Through the years, as the Hemmes family expanded their fashion and restaurant business, they also started buying up the buildings in which they operated their different businesses.
One of their first Merivale coffee shops was in Potts Point.
Justin Hemmes' late father, Mr John bought the property at 61-63 Macleay Street for $1.428 million in 1988 from Peejays Developments.
The property is part of the Santa Fe row of 1905 Queen Anne style terraces that once ran from 45 to 63 Macleay Street.
It is part of the surviving half of a set of 10 terraces, designed by architect Maurice B Halligan, some of them demolished to make way for the Chimes. 
 
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