Repeat buyers are one of the strongest measures of confidence in any apartment development.

At <a href="https://www.apartments.com.au/new-apartments/era-newcastle-west-124-126-bull-street-newcastle-west-nsw-2302">ERA</a> in Newcastle West, some purchasers are returning to <a href="https://www.apartments.com.au/developers/gwh">GWH</a> after living at the developer's One Apartments. Their decision to purchase again was driven by the quality of life they found after moving into their first GWH home.

Keith Wilton had spent years living in a house in East Maitland before deciding it was time for a change. Apartment living had always been on his radar, but he was selective about what he wanted.

<iframe allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" allowfullscreen="" frameborder="0" height="315" referrerpolicy="strict-origin-when-cross-origin" src="https://www.youtube.com/embed/FH_1EzB-1vs?si=XScVlP1ERsTDJoME" title="YouTube video player" width="560"></iframe>

"I had some boxes I wanted to tick," he says.

Keith points to the open-plan design, generous outdoor areas and considered inclusions as key reasons One Apartments worked for him.

“One of those things was a nice indoor open plan area, but also I wanted a nice outdoor open area that I could entertain on in summer or Christmases or birthdays,” he says.

He also found value in the smaller details, from integrated appliances to shared resident spaces including the pool, cinema and rooftop areas.

[smartcode_project:default project_id=135096 project_image_fid=356818]

After comparing several developments, he chose One Apartments because of GWH's longstanding local reputation and his own experience working with the developer on a commercial project more than a decade earlier.

"I knew that they were local, that the quality of the build was going to be up there. I'd looked at other apartment complexes around and close by, and I just knew that here was a better decision location wise."

Today, Keith says the move has completely changed how he experiences Newcastle.

"I enjoy living in this location because it's more of a lifestyle change. That Newcastle city living where you can walk to restaurants and bars and even beaches and parks and even shopping across the road."

[smartcode_project:default project_id=135096 project_image_fid=356828]

Beyond the location, he says it's the sense of community that has surprised him most.

"Everyone loves living here because they chose to live here, but everyone looks out for each other. It's a real great community feel here."

For Aimee and Lyle Goodman, the journey started almost by chance.

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The couple happened to be having coffee in Newcastle when they noticed the site where One Apartments was about to begin construction.

"We were aware GWH was planning a development," Aimee says. "We made one phone call and things moved pretty quickly after that."

As busy business owners, they initially thought apartment living would simply reduce the maintenance that came with larger homes. Instead, it fundamentally changed how they spent time together.

"We actually catch up more as a family now," Aimee says.

"We've had homes with big yards and lots of space, but everyone ended up in different rooms. Here we'll have dinner together, the kids can play, and we spend far more quality time together."

[smartcode_project:default project_id=135096 project_image_fid=356829]

Lyle says their confidence came from GWH's reputation within Newcastle's building industry.

"I know people who've worked across different apartment projects, and whenever GWH came up the feedback was always the same. They're rock solid. They're quality."

That confidence only grew throughout the buying process.

"One of the things that really impressed us with GWH was the whole process, was the communication," Lyle says. "It was consistent, it was regular, there was no problem if we had some weird questions, there was no problems in getting answers."

[smartcode_project:default project_id=135096 project_image_fid=351104]

Aimee says one moment stood out.

"The project actually finished on time. We realised we needed to hurry up and sell our house because everything was happening exactly when they said it would."

The positive experience at One Apartments ultimately gave all three buyers the confidence to purchase again with GWH, this time at ERA.

Their confidence reflects what many buyers are seeking in today's apartment market. Location remains important, but so too does certainty around delivery, quality and long-term liveability.

[smartcode_project:default project_id=135096 project_image_fid=356822]

ERA builds on those foundations with 280 one, two and three-bedroom apartments across two landmark towers in <a href="https://www.apartments.com.au/developments/newcastle-west-nsw-2302">Newcastle West</a>.&nbsp;

Designed by <a href="https://www.apartments.com.au/architects/fk-australia">Fender Katsalidis</a>, the project will include more than 2,000 square metres of resident amenities, including a resort-style pool, gym, sauna, private cinema and rooftop entertaining spaces overlooking the harbour and coastline.&nbsp;

The development is also within walking distance of the Newcastle Interchange, Honeysuckle, Darby Street, the harbour foreshore, restaurants, retail and the city’s beaches, continuing the walkable lifestyle that existing GWH buyers say has transformed how they live.

[smartcode_project:default project_id=135096 project_image_fid=356826]

For Keith, the appeal remains straightforward.

"You feel at home even before you've moved into your home."

For Aimee, the change is measured in time.

“I just felt like I had more time,” she says.

[smartcode_project:default project_id=135096 project_image_fid=351102]

Construction at ERA is now underway, with more than half of the residences already sold and limited two and three-bedroom apartments remaining in the East Tower release. Priced from $980,000 for two-bedroom residences and $1.46 million for three-bedroom residences, buyers can secure an apartment with a 10 per cent deposit, with premium homes offering ocean views from Level 8 and harbour views from Level 10.

ERA is also backed by Resilience Insurance's 10-year Latent Defects Insurance policy, providing protection against structural or waterproofing defects for 10 years after completion. The project is anticipated to be completed in early 2028.

[smartcode_project_cta:default project_id=135096]

Joel Robinson

From ONE to ERA: Why buyers are choosing GWH again in Newcastle West

Virgate Property Group is preparing to commence construction of Verdé, its new apartment development in Melbourne's Arts Precinct at Southbank, following a strong run of sales that has seen more than half of the project's 173 apartments secured.

Verdé has attracted a broad mix of first home buyers, owner-occupiers upgrading from nearby inner-city suburbs and investors, with younger owner-occupier couples aged between 28 and 45 accounting for the strongest enquiry. Many are already living in Southbank, South Melbourne, Albert Park, Port Melbourne, South Yarra and the CBD.

"Verdé is located in one of the most desirable pockets of southern Melbourne," Blair Property Group Director Darren Blair, who is managing sales at Verdé, said.

"It's within walking distance of the Arts Centre, Royal Botanic Gardens, Albert Park Lake, and Southbank's restaurants and retail. It's a great lifestyle location with strong amenity and liveability, which made it a very attractive choice for the project."

[smartcode_project:default project_id=4661 project_image_fid=372549]

Virgate was already familiar with the precinct, having previously delivered the successful Domain House development in neighbouring South Melbourne. That experience gave the developer confidence to acquire the Coventry Street site and continue expanding its presence in Melbourne's inner south.

"We had been keeping an eye on the site and the broader precinct for a few months before deciding to move forward with the acquisition," Virgate said.

The project was ultimately secured in 2020 following feasibility studies, planning assessments and due diligence, with the brief centred on delivering "a high-quality, considered design that feels both refined and fit for purpose."

[smartcode_project:default project_id=4661 project_image_fid=314259]

Designed by <a href="https://www.apartments.com.au/architects/bruce-henderson-architects">Bruce Henderson Architects</a>, Verdé comprises 173 one, two and three-bedroom apartments priced from $599,000. The architecture is distinguished by a faceted glass façade that responds to both the site's outlook and Melbourne's changing light conditions.

According to Bruce Henderson Architects, the coloured glazing gives the building a distinctive identity while also providing privacy and solar shading, with residences oriented to capture views across the bay, city skyline and surrounding parklands.

Inside, <a href="https://www.apartments.com.au/interior-designers/designoffice">DesignOffice</a> has created interiors focused on natural light, efficient planning and enduring materials. Apartments feature engineered oak flooring, natural stone benchtops, floor-to-ceiling glazing and SMEG appliances, while a restrained material palette aims to complement the expansive outlooks rather than compete with them.

[smartcode_project:default project_id=4661 project_image_fid=372550]

Resident amenity has also been designed around everyday functionality rather than occasional use. Facilities include a concierge-serviced lobby, residents' lounge with fireplace, library and co-working space, gym, terrace garden with barbecue facilities, ground-floor café, and package delivery management.

The project's location continues to be one of its strongest drawcards. Positioned on Coventry Street, Verdé sits within walking distance of the National Gallery of Victoria, Arts Centre Melbourne, Royal Botanic Gardens and Albert Park Lake, while Southbank's dining precinct, Sturt Street trams and the new ANZAC Station are all nearby. The surrounding education catchment also includes Melbourne Grammar, Melbourne Girls Grammar, Mac.Robertson Girls' High School and several major university campuses.

The sales team says buyers have responded particularly well to the combination of location, design quality and long-term liveability.

"They're responding really positively to the quality of the design, premium resident amenities and the uninterrupted views. Many also appreciate the location and how connected it is to everything they need."

The ability to secure stamp duty savings before completion has also been a key factor for purchasers, alongside the opportunity to personalise finishes ahead of settlement.

With construction set to commence soon and more than half the apartments already sold, Verdé enters its next phase as one of the Arts Precinct's more established apartment developments, offering remaining buyers an opportunity to secure a residence before construction advances further. Expected completion is scheduled for late 2027.

[smartcode_project_cta:default project_id=4661]

Virgate's Verdé Southbank moves toward construction as sales fly past halfway stage

Downsizer-focused apartment development Kooyongkoot in Hawthorn has been recognised at the 2026 Better Future Melbourne Design Awards, taking home Gold and Silver awards in two categories.

<a href="https://www.apartments.com.au/new-apartments/kooyongkoot-hawthorn-1-kooyongkoot-road-hawthorn-vic-3122">Kooyongkoot</a>, currently being delivered by developer PQD and designed by Cera Stribley, received Gold in the Interior Design – Proposed category and Silver in the Architecture – Proposed category.

The dual recognition reflects the design approach behind the boutique development on prestigious Kooyongkoot Road, where the focus has been on creating homes for downsizers seeking the space, quality and functionality of a detached house within a low-rise apartment building.

Rather than maximising apartment numbers, <a href="https://www.apartments.com.au/developers/pqd">PQD</a> and <a href="https://www.apartments.com.au/architects/cera-stribley-architects">Cera Stribley</a> limited the development to just 18 residences, allowing for larger floorplans, greater privacy, generous landscaping and expansive communal spaces.&nbsp;The majority of the apartments also benefit from corner aspects, allowing for dual sources of natural light.

Now around 70 per cent complete and on track for completion in November 2026, Kooyongkoot will comprise a mix of garden residences, ter​race apartments, sub-penthouses, and is crowned by two half-floor penthouses with direct lift access and private rooftop terraces.

[smartcode_project:default project_id=102717 project_image_fid=355297]

The Silver Award for Architecture recognised the way the building responds to its prominent corner position at the ent​rance to Hawthorn's Scotch Hill precinct, one of Melbourne's most established residential neighbourhoods.

Rather than competing with the grand homes that line Kooyongkoot Road, the architectural approach focused on restraint and longevity, using curved brickwork, generous landscaping and carefully considered proportions to integrate with the existing streetscape.

"The form feels fluid and timeless, as though shaped by the landscape itself – architecture that belongs, rather than competes," said Chris Stribley, Co-Founder and Managing Principal of Cera Stribley.

The judging submission also highlighted practical innovations throughout the building, including lift cores servicing only nine homes each, a central landscaped lightcourt designed to bring daylight and ventilation into the building, and fully enclosed private storage rooms with lighting, power and shelving to better accommodate residents transitioning from larger family homes.

[smartcode_project:default project_id=102717 project_image_fid=355293]

The Gold Award for Interior Design recognised the project's focus on long-term liveability rather than display-home aesthetics.

According to the awards submission, the interiors were designed from the inside out, prioritising how homes would function over decades of daily use through generous proportions, practical storage, durable natural materials and flexible layouts.

The specification includes natural stone throughout, upgraded acoustic glazing, V-ZUG appliances and fully enclosed storage rooms, alongside an amenity offering focused on wellness, entertainment and everyday convenience.&nbsp;

Residents will have access to a gym and yoga studio, a wellness centre featuring traditional and infrared saunas, a cold therapy shower and treatment room, as well as a residents' lounge and golf simulator/cinema room for entertainment.&nbsp;Kooyongkoot has also considered the everyday convenience of its residents by offering a private carwash and pet wash facilities on site as well as dedicated parcel lockers and oversized fully enclosed storage rooms.&nbsp;

[smartcode_project:default project_id=102717 project_image_fid=355303]

The project's attention to detail has already resonated with buyers. Earlier this year, Kooyongkoot recorded one of Boroondara's highest apartment sales when an $8 million penthouse was purchased by a Melbourne CEO downsizing from a nearby family home.

"Every detail feels deliberate, from the overall design down to the smallest touches," the purchaser said.

"The level of quality and refinement is exceptional, but what really sold it was how liveable it felt... It felt like a place where everything had been considered, not just a luxury building."

[smartcode_project:default project_id=102717 project_image_fid=355304]

Sustainability also formed a key part of both award submissions. Kooyongkoot is targeting a minimum 7.5-star NatHERS rating across all residences, supported by passive design principles, high-performance glazing, EV charging infrastructure, water reuse systems and a wellness model focused on lower-energy dry facilities rather than pools and large wet areas.

Located within walking distance of Scotch College, Methodist Ladies' College, Koo​yong Lawn Tennis Club, Aubur​n Village and Camberwell Junction, Kooyongkoot continues to target owner-occupiers looking to remain in Melbourne's inner east without compromising on space or quality. A limited selection of two, three and four-bedroom residences remains available, with prices starting from $1.9 million.

[smartcode_project_cta:default project_id=102717]

Kooyongkoot wins Gold and Silver at Better Future Melbourne Design Awards

New apartment supply has become increasingly constrained across <a href="https://www.apartments.com.au/developments/parramatta-nsw-2150">Parramatta</a> in recent years, with fewer projects progressing through to completion as development conditions have become more challenging.

It makes <a href="https://www.apartments.com.au/developers/novm">NOVM</a>'s 2021-completed <a href="https://www.apartments.com.au/buildings/the-lennox-parramatta-12-phillip-street-parramatta-nsw-2150">The Lennox</a> one of the most recently completed residential towers on the Parramatta River, and among the newest apartment developments in Sydney's second CBD.

With the project largely completed before the sharp escalation in construction costs and inflation following the pandemic, The Lennox is now offering pricing that would be difficult to replicate in a comparable new development in Parramatta today, or across much of Western Sydney.

The majority of the 413 apartments at The Lennox sold before and shortly after completion. A limited release of the remaining apartments has recently been brought to market by capital partner <a href="https://www.apartments.com.au/project-marketer/equitifund-group">Equitifund</a>, with entry-level pricing from $700,000 and two-bedroom apartments available from under $1 million.

Rising above the Parramatta River at 12 Phillip Street, The Lennox comprises one, two, three and four-bedroom apartments, appealing to first home buyers, young professionals, families, downsizers and interstate investors seeking a completed apartment in one of Australia's fastest-growing economic centres.

[smartcode_project:default project_id=5743 project_image_fid=372394]

Rather than positioning Parramatta as an alternative to Sydney's CBD, Equitifund believes the city has reached a point where it stands on its own merits.

"Parramatta is no longer simply an alternative to Sydney CBD, it's becoming a destination in its own right," Equitifund Executive Chairman Greg Huxley said.

"The Lennox captures that evolution with a level of quality and amenity that's difficult to match at its price point."

[smartcode_project:default project_id=5743 project_image_fid=953]

Designed by <a href="https://www.apartments.com.au/architects/marchese-partners">Marchese Partners</a>, the tower responds directly to its riverfront setting through expansive glazing and open-plan layouts that maximise views across the Parramatta River and city skyline. Interiors feature engineered timber flooring, stone benchtops, stainless steel appliances and floor-to-ceiling glazing, while generous balconies extend the living spaces outdoors.

Marchese Partners says the project was conceived to balance high-quality apartment living with practical, long-term functionality, pairing larger, efficient floorplans with amenities more commonly associated with five-star hotels.

That emphasis continues through the resident facilities, which include a 20-metre rooftop swimming pool, fully equipped gym and wellness spaces, full-time concierge, a residents' lounge, function room, private lifts, secure basement parking and rooftop communal areas overlooking the Parramatta River. Ground-floor boardwalk retail and dining further activate the riverfront and integrate the building into the surrounding public realm.

[smartcode_project:default project_id=5743 project_image_fid=925]

Australian housing and finance group Equitifund has secured the remaining apartments, believing there are few completed apartment opportunities in Parramatta that offer the same combination of location, amenity and pricing.

Equitifund National Sales Director Ben Hamblett says buyers are increasingly recognising that premium apartment living no longer needs to come with Sydney CBD pricing.

"The Lennox is where aspirational living becomes attainable," Hamblett said.

"Wake to river and mountain views, step into Sydney's Second CBD, and arrive home to resort-calibre amenities, all without the harbour price tag."

Hamblett says owner-occupiers are also attracted by the convenience of having Westfield Parramatta, Church Street's dining precinct, Parramatta Park, Riverside Theatres, Western Sydney University and major transport connections all within walking distance.

"At The Lennox, lifestyle is not an afterthought, it is the foundation."

[smartcode_project:default project_id=5743 project_image_fid=5374]

The Lennox places residents within walking distance of Parramatta Square, Westfield Parramatta, Church Street Eat Street, Parramatta Station, the ferry wharf, Light Rail, the future Sydney Metro West, Parramatta Park and CommBank Stadium, reinforcing Parramatta's position as one of Australia's most connected metropolitan centres outside Sydney's CBD.

Equitifund says buyers visiting the display suite consistently comment on the quality of the finishes, generous floorplans, river and skyline views, and the walkability of the location. The project has attracted a broad mix of local professionals, upsizers, downsizers, buyers relocating from Sydney's inner suburbs and interstate investors seeking long-term growth opportunities.

That demand aligns with Parramatta's continued evolution as an economic powerhouse. Equitifund Research and Market Insights specialist John Bekiaris says sustained population growth, infrastructure investment and expanding employment opportunities continue to support long-term housing demand across the city.

"Parramatta has evolved from a satellite city into one of Australia's most important economic centres. Population growth, infrastructure investment and employment are all supporting sustained long-term housing demand."

[smartcode_project_cta:default project_id=5743]

The apartment price gap drawing Sydney buyers west

A luxury beachfront apartment at Rainbow Bay has more than doubled in value since it sold off the plan six years ago, setting a new local apartment record in the process.

The three-bedroom apartment in the Flow development on Petrie Street, the first of four new projects locally by Paul Gedoun's S&amp;S Projects, has sold for $7.4 million, after originally selling for $3.27 million when the project launched in 2020.

The seventh-floor apartment, comprising 187 sqm of internal living space and a 54 sqm balcony overlooking Froggies Beach and Snapper Rocks, was purchased by a local family.

The transaction was negotiated by Pezet Matheson director Kerry Pezet and equates to more than $30,000 per sqm.

Pezet said the sale reflected the limited opportunities to buy into the boutique beachfront development.

"The sale highlights the rarity of opportunities within the boutique beachfront development, where residences seldom become available," Pezet said.

"Flow is one of the Gold Coast's most tightly held buildings. Buyers from our database move quickly when residences become available, and achieving an off-market sale at $7.4 million demonstrates the depth of demand for property of this calibre."

<img alt="Flow" data-entity-type="file" data-entity-uuid="c585b206-2130-4eee-a50c-3f27c51a7c70" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-07-06%20at%208.33.25%E2%80%AFPM.png?VersionId=m3pHRDV62Y3fvN.XQuQHq.52ilTWpRLf" />

Flow was the first of four luxury apartment developments delivered by Paul Gedoun's S&amp;S Projects at Rainbow Bay and was completed in 2023.

Positioned on the beachfront overlooking Snapper Rocks, the residence includes three bedrooms, three bathrooms, a powder room and views stretching north along the coastline towards Surfers Paradise.

Pezet Matheson Residential principal Mitchell Lambert said buyers continued to prioritise quality beachfront apartments in tightly held locations.

"Flow Residences offers a rare combination of elevated beachfront positioning, architectural excellence, comprehensive resident amenity and premium finishes, which is exactly what discerning purchasers are seeking," Lambert said.

"The transaction further reinforces Rainbow Bay's reputation as one of Australia's premier coastal lifestyle destinations, where limited supply and growing demand continue to support strong market performance."

Pezet Matheson originally marketed and sold out Flow off the plan, making the latest transaction a return to one of the project's original buyers.

Paul Gedoun is selling his third project, <a href="https://www.apartments.com.au/new-apartments/radia-rainbow-bay-271-boundary-street-coolangatta-qld-4225">Radia Rainbow Bay</a>, after recently completing, and selling out, <a href="https://www.apartments.com.au/buildings/esprit-217-227-boundary-street-coolangatta-qld-4225">Esprit</a>. He has plans for a <a href="https://www.apartments.com.au/news/qld/first-look-s-s-projects-proposes-88-apartment-wellness-tower-at-coolangattas-boundary-street">fourth building</a>, 88 apartments on <a href="https://www.apartments.com.au/new-apartments/209-213-boundary-street-coolangatta-qld-4225">Boundary Street</a>.

Rainbow Bay apartment doubles in price since off the plan sale during pandemic

Commercial

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The art deco Dorijo apartments at 458 Victoria Parade, East Melbourne have been sold for $4.95 million.
Heritage watchers are now worried as to its fate, hoping for its restoration.
It was offered through <a href="https://www.realestateview.com.au/print/7782056.pdf" target="_blank">Teska Carson</a>.
The art deco block has 12 strata units sold in one line. Some leases were still existing.
With weekly rents upwards from $260, its income was around $175,000 annually, reflecting a 3.5% yield. 
Its land area is 647 square set between Powlett and Hoddle streets.
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Art deco Dorijo apartment block sells at 458 Victoria Parade, East Melbourne

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Aspen Group has acquired the Four Lanterns Estate, a residential manufactured housing estate located in Leppington in south-west Sydney.
The $7.4 million purchase - Aspen Group’s first accommodation property acquisition in the Sydney metropolitan area - reflects an initial yield of 7.6%.
Located within the Leppington Town Centre, the freehold property is 800 metres from the new Leppington railway station.
Significant infrastructure is currently being installed in the surrounding area, including the upgrade of the Camden Valley Way to a four lane divided carriageway.
Four Lanterns Estate has been established for over 40 years, with 102 existing residential sites, with a 100% occupancy level. It is marketed as an alternative, affordable option for the over 50s, a low-maintenance lifestyle in your own brand-new manufactured home.
"There is development potential to increase the number of residential sites subject to council approval," said Clem Salwin, the Aspen chief executive officer. 
The 3.9 hectare property has recently been rezoned to R3 Medium Density residential.
Aspen Group has also secured a first right of refusal to acquire an adjacent 2.5 hectare site.
Situated 40 kilometres from Sydney, and <a href="https://www.fourlanterns.com.au/index" target="_blank">originally the Red Mill Caravan Park</a>, the Estate has been a family-owned small residential park since 1971.
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Aspen Group pay $7.4 million for Four Lanterns Estate, Leppington

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<div>
Queensland House, a six-storey building on The Strand in central London, has been listed for sale by the Queensland government.
</div>
It is the office of the Queensland Agent General Ken Smith and his staff.
News Ltd papers suggest property agents tip up to $38 million for the 1980s office building.
<a href="https://www.allinlondon.co.uk/directory/1100/93666.php" target="_blank">393 The Strand</a>, which has retail premises, was reportedly purchased by the state for about $4 million.
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Queensland House, London offices set for sale by Queensland government

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One of Australia's most well-known franchisors says he also offered to buy pie franchise Pie Face while it was in administration but administrators Jirsch Sutherland failed to follow up on his bid.
Tom Potter is best known as the founder of pizza chain Eagle Boys but he has a wealth of other franchising experience under his belt.
Potter has served on the board of several retail companies, including bakery franchise Brumby's. More recently he has built the Crusty Devil Bakehouse franchise, while also serving as chairman of burger chain Burger Urge.
Speaking to SmartCompany this week, Potter says he contacted Jirsch Sutherland on multiple occasions to attempt to speak to the administrators about his interest in purchasing the franchise.
Potter's revelation comes after Franchised Food Company chief executive Stan Gordon told SmartCompany he also had difficulty reaching the administrators to discuss buying the company, which entered voluntary administration in late November.
This week Gordon labelled the administration process as "disgraceful", after Pie Face creditors voted to support a Deed of Company Arrangement (DOCA) to save the company from liquidation in late December.
But Jirsch Sutherland managing partner Sule Arnautovic told SmartCompany Jirsch Sutherland only received one offer for part of the Pie Face group, but the offer was not "remotely close" to the proposed returns to creditors under the DOCA.
In emails seen by SmartCompany, Potter clearly stated to Jirsch Sutherland that he was an "interested buyer".
Potter also expressed an interest in acting as an adviser or management consultant to the administrators "on various areas of the business including franchising, production, overall profit and future options evaluation, marketing".
"I wanted to advise you over the last few years other than being partially retired I have built the Crusty Devil Bakehouse model from scratch ... and have intimate knowledge of the pie, café, bakery business," Potter wrote in one email.
Potter sent emails to Jirsch Sutherland on December 9, 10, 11, 15 and 23. On one occasion he received a response to say his details had been passed on the administrators managing Pie Face but says it wasn't until Christmas Eve that he received a phone call to inform him that a sale process would not proceed.
Potter told SmartCompany he was serious about his offer and he wouldn't have contacted Jirsch Sutherland if he wasn't.
"I made multiple approaches to buy Pie Face but I was ignored three times," Potter says.
"I received one email saying 'I'll pass on the information to the person handling the administration' but I didn't hear a word until Christmas Eve."
Potter says he was unable to specify an amount he was willing to pay for Pie Face as he did not receive an information memorandum.
Jirsch Sutherland managing partner Sule Arnautovic confirmed this to SmartCompany, saying Potter never made a formal offer for the business.
"They never signed a non-disclosure agreement, they never even got to the first formal stage of the acquisition process," Arnautovic says.
"They never paid the $40 fee to receive the summary information memorandum, they never made any offer, they never did any detailed due diligence via us or the Pie Face management team."
"Mr Potter offered his services as a consultant to Pie Face and any interest he had in acquiring the business appeared to be secondary to his desire to provide services to the Pie Face Group."
While Potter says it is "hard to know" what improvements are needed to the Pie Face business, he says he would have "looked at it as a turnaround".
"I would have worked at turning around the business quickly and then decide what to do. It would not have been a long-term interest."
And like Franchise Advisory Centre executive director Jason Gehrke, Potter also questioned the benefit to Pie Face creditors of the DOCA that was accepted at the end of December.
"The big question is why the creditors would accept a deal that would pay them 14 cents in the dollar in two years' time," he says.
This article was originally published on Smart Company.
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Eagle Boys founder also offered to buy Pie Face amid administration woes

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Strong investor interest in the caravan park and retirement village market is continuing, with Sea Wings Village at Anna Bay sold for $6,993,000. It is an over 55s resort at Frost Road, Anna Bay.
The sale of the Port Stephens located village was negotiated by Ray White Commercial Burleigh’s Sam Johnson on behalf of a private seller. It is just one of four caravan parks sold in the Tweed region this year already, with the transactions totalling more than $12 million.
“This latest transaction was conducted off market,” said Johnson.
Multiple offers were achieved on the back of his database within 48 hours of sending out information about the property.
It includes 150 manufactured houses, a manager’s office and residence, swimming pool, tennis court and community hall. The business earns a gross annual income of $1 million per annum.
“Caravan parks and manufactured housing estates are playing an increasingly important role in meeting the housing requirements of the ageing population in Australia,” he said.
“Both institutional investors and cashed up private investors are entering this sector of the market, chasing the secure income afforded by these assets.”
The new owner is a Sydney-based private fund.
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Investors entering caravan and retirement village markets: Ray White

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While the economy’s not booming, it is improving, according to CBRE’s Market Outlook Australia report.
The report notes that average yields are expected to decrease next year in retail and industrial property.
Offices are expected to see stabilising average yields.
<img src="/images/2014/12/10/cbre%20dec%2010%20one.png" alt="">
Source: CBRE
However, while 2014 has seen a downward shift in yields in all three sectors and varying conditions in tenant markets, 2015’s limited rent growth expectations should be seen as a slight positive coming off of a softening yield year.
“Our broad view is that prime yields will stabilise through the year as the rent cycle is weak and IRRs remains steady. Further softening in Perth/Brisbane offsets modest compression in Sydney/Melbourne in 1H 2015,” the CBRE report noted.
Looking towards industrial, however, they noted that prime warehouse continues to perform well in comparison to secondary stock. Those with prime warehouse assets may see some rental growth.
Larger format retail and sub-regional/neighbourhood centres are also expected to outperform in the retail category, while those with prime retail may not have such a good 2015.
For the majority of commercial assets it seems CBRE is predicting a slow growth environment.
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Commercial rent expectations for 2015: CBRE

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A private local developer has paid $48 million for the Chapel Street site, a large land parcel in the heart of Rockdale. 
The sale was negotiated by Savills Australia on behalf of <a href="https://ninemsn.commercialrealestate.com.au/property/2011303987/for-sale/nsw/rockdale/development-land" target="_blank">Rockdale City Council</a>.
Situated between Bay Street and Lister Avenue, it spans 7,419 square metres across three sites.
The holding is zoned part B2 Local Centre and part R4 High Density Residential under the Rockdale Local Environment Plan 2011. 
 Council provided a concept plan which indicates the potential for over 300 units plus retail space.
“Rockdale and surrounding suburbs such as Wolli Creek, Arncliffe, Brighton le Sands and Kogarah are the focus of a new wave of development activity that is regenerating southern Sydney’s key urban precincts,” according to selling agents Robert Lowe of Savills Metropolitan &amp; Regional Sales and David Poppleton of Savills Residential Special Projects.
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Rockdale's Chapel Street site sold for $48 million

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Kulangoor’s big cow has been officially handed over to new owners for the first time in 14 years.
The icon is among the 150 ‘BIG’ things scattered across Australia that make up some of the country's most loved attractions, from the Big Banana in Coffs Harbour to the big boxing crocodile at Humpty Doo.
The spotlight has been thrown on the Big Cow with its sale being confirmed earlier in the week.
ONE Agency Noosa principal Grant Baker said a successful marketing campaign was the driving force behind the sale.
“The team at ONE Agency Noosa has worked diligently to create an outcome where both buyers and sellers are happy,” Grant said.
The property was first designed as the Country World tourist attraction. It had a working dairy farm with Ayrshire cows. Visitors could learn firsthand how dairy farms were run.
The property was last sold in 2000 and was run as The Outdoor Centre for years. Owners then transformed it into the Nambour Regional Training Centre.
Since then the training centre has been leasing out its facilities to companies across Australia. Tenants include marines and mining and disability industries.  
Over the past 14 years the big cow has became synonymous with the property. Sculpted by Hugh Anderson, who also did the big bulls at Rockhampton, the big cow is an exact replica of an Ayrshire cow, only seven times bigger.
The big cow also became home to Sunshine Coast’s first sea and air rescue helicopter, with the old helipad on site.
The complex has 70 parking spaces and has easy access off and on the Bruce Highway. 
Picture: Stuart Edwards/<a class="mw-mmv-license" href="https://www.propertyobserver.com.au/https://creativecommons.org/licenses/by-sa/3.0" target="_blank" style="line-height: 1.3em;">CC BY-SA 3.0</a>.
 
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Queensland’s Big Cow icon sold after owners decide to moo-ve on

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GUEST OBSERVATION
People are pretty comfortable with the idea of residential property investment. 
Most people (I’m guessing) have lived in a house or a unit before; many have also rented them.  So it’s a known quantity and having a few houses in our portfolio makes us feel pretty good.
Now, maybe you’ve been to realestate.com.au on the odd occasion, and you’ve noticed the ‘commercial’ tab on the far right.  A quick search in your local area brings up a plethora of offices, retail shops, warehouses, hotels and even commercial farms, many with the words ‘outstanding opportunity’. 
So is commercial property investment something within the reach of all property investors?  How does it compare to investing in residential property?  Should you be looking to diversify into commercial? 
Well the attractiveness and suitability of any investment boils down to risk vs return.  So let’s compare the two asset classes:
<ul>
<li>Returns</li>
</ul>
Show me the money, as they say.  Here, commercial has the upper hand with returns usually around 6-8%, and sometimes significantly higher for the real 'unicorns'. Residential returns are a little lower at 4-5%, but as you’ll see, less risky and cheaper.
<ul>
<li>Vacancy</li>
</ul>
One of the biggest risks in property is the vacancy rate.  How long can you afford to make repayments and pay outgoings on a property receiving no income? 
Residential property has lower vacancy rates than commercial.  A house or unit may stand vacant for a few weeks before it’s rented, whereas a warehouse, a shop or an office might be vacant for months or years at a time. 
The commercial leasing sector tends to be more affected by the economic climate - they’ll lay off staff and consolidate space when times are tough, causing a contraction in demand for space, whereas individuals still need somewhere to live.  That tends to make the residential property sector a bit more stable.
<ul>
<li>Rental / Lease agreements</li>
</ul>
In the residential world, striking a deal with a tenant is pretty straightforward with much of the common terms (or boilerplate) outlined in a mandated Residential Tenancies Agreement.  All you need to consider are your variables like lease term, rental amount, bond, etc. 
In the commercial world, there’s no statutory authority to tell you how to reach agreement - it’s all up for negotiation (there are conventions though).  Commercial leases run to dozens of pages and include things like incentives paid by the lessor to put towards fit out, and make good clauses, specifying if and how the tenant should return the tenancy when they vacate.  You’ll need specialist property lawyers or a tenant advisor to help with this process.
<ul>
<li>Cost</li>
</ul>
Square metre for square metre, commercial real estate is often cheaper than residential property (unless you’re talking about CBD office space north of $700 a square metre per annum) but because you’re buying more square metres per property, commercial is usually dearer in real terms.  And you have outgoings such as electricity, security, and base building maintenance to consider, however these are passed on to the tenant in some way (net or gross lease). 
In commercial, it’s easier to pass on costs if utility prices climb, but harder to do so with residential property.
<ul>
<li>Maintenance</li>
</ul>
A dripping tap or faulty ceiling fan in a residential property is an annoyance to a tenant and something you should get fixed promptly to keep your tenant happy.  However in the commercial world, tenants tend to be more demanding, particularly if the fault or shortcoming is costing them money - for example the air conditioning breaking down in a shopping centre in summer. 
For this reason, you’ll need a professional property manager with agreements in place with services contractors like air conditioning technicians, plumbers, electricians, security contractors, and who knows the language of that world.
<ul>
<li>So which is better?</li>
</ul>
You may get sick of hearing me say this, but it really comes down to your personal financial strategy, your financial situation, and your appetite for risk &amp; return. 
Before investing in property or any asset class, know what you’re getting into, retain good advice and don’t overcommit yourself. 
For many investors, commercial property represents ‘the next level’ where the scale is greater, the sums are larger, and the returns are higher.
Owen Davis is the principal of <a href="https://dfgproperty.com.au/" target="_blank">DFG Property</a>, a full service property management, finance &amp; sales firm based in Sydney. 
Owen has over 15 years experience in property financing, real estate and property management.
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OwenDavis-dWJoq5LscE

Residential or commercial - which should I invest in?

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Peter Rhodes, the managing director of Reed Midem UK, is in Sydney this week to seek Australian interest in the 2015 MIPIM Japan exhibition.
Reed Midem, which has run the highly successful MIPIM Cannes exhibition for 25 years, says the Japanese government sought out the group to inaugurate the real estate forum for property leaders and finance professionals from all asset classes to explore opportunities in Japan and identify potential investment sources.
He says the timing of <a href="https://www.mipimjapan.jp" target="_blank">MIPIM Japan</a> coincided with nascent signs of renewed interest in ventures between Japanese and Australian partners after a dormant decade or so.
Recently EG Funds Management inked a $300 million partnership deal with Japan's largest home builder, Daiwa House, to redevelop the former Allied Mills site at Summer Hill.
He noted Japan investment abroad has jumped up from US$763 million in 2010 to US$3,118 million in 2013.
Ad despite the recession Tokyo stands as the first city targeted for property investment in Asia Pacific and ranks fourth in the world in 2014
"With over €4 billion inbound international property investment in 2013, Japan ranked 6th in the world," <a href="https://www.linkedin.com/profile/view?id=37310297&amp;authType=NAME_SEARCH&amp;authToken=YcTb&amp;locale=en_US&amp;srchid=1644771001416977125970&amp;srchindex=1&amp;srchtotal=158&amp;trk=vsrp_people_res_name&amp;trkInfo=VSRPsearchId%3A1644771001416977125970%2CVSRPtargetId%3A37310297%2CVSRPcmpt%3Aprimary" target="_blank">Peter Rhodes</a> said.
"For 2020 Olympics €4 billion investment in infrastructure and venues are expected, and the government aims for doubling the yearly number of foreign tourists to 20 million visitors," he said.
Exhibitors would gain visibility and recognition for real estate projects and identify potential Japanese partners and investment sources.
"This is the first real estate forum for Japanese and global leaders, joining together property and finance professionals from all asset classes – office, retail, infrastructure, leisure, residential - enabling Japanese real estate professionals to share their projects and know-how with the world and international stakeholders to source capital or new opportunities in Japan," the website for MIPIM Japan reads.
Some of the Japanese players who will be showcased include:
<ul>
<li>Mitsui Fudosan</li>
<li>Mitsubishi estate</li>
<li>Sumimoto Realty &amp; Development</li>
<li>Mori Building</li>
<li>Nomura real estate</li>
<li>Tokyo Tatemono</li>
<li>Tokyu Fudosan</li>
<li>Odakyu Electric Railway</li>
<li>Seibu Properties</li>
<li>NTT Urban Development</li>
<li>NTT Facilities</li>
<li>Sankei Building</li>
<li>Orix Real Estate</li>
<li>
Other local authorities and associations including the Ministry of Land, Infrastructure, Transport and Tourism. 
</li>
</ul>
The Olympics will be a major theme given the proximity to the 2020 event.
Ken Livingstone, the former Mayor of London (2000-2008), and key protagonist in the success of the nomination of London for the 2012 Olympics will be among the speakers at the May 20-21 event.
Hiromichi Iwasa, the chairman of Mitsui Fudosan and chairman of the Association for Real Estate Securization Chairman of the Real Estate Companies Association of Japan will also speak at the forum.
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