&nbsp;

Developer GURNER™ Group has revealed $1.65 billion in residential sales nationally across the 12 months to December 2025, driven largely by the continued momentum of its Docklands wellness-focused precinct, Elysium Fields.

The sales result was generated across seven projects in Victoria and New South Wales, headlined by Elysium Fields, GURNER™’s $2.75 billion mixed-use precinct planned for Harbour Esplanade in Docklands.

The project has recorded more than $500 million in sales across the first three towers, equating to around 580 apartments sold.

The first tower, Helios, has now sold out of its 240 private residences, with GURNER™ preparing to release a premium penthouse collection comprising 15 three-bedroom penthouses in coming weeks.

[smartcode_project:default project_id=144441 project_image_fid=370975]

Elysium Fields is being developed on the long-held 20,000 sqm Docklands site at 208-226 Harbour Esplanade, which had remained undeveloped for more than two decades prior to GURNER™ taking over the project around four years ago.

Construction has now commenced across four towers ranging between 18 and 30 storeys, with Hamilton Marino and Maxcon appointed as builders.

Once complete, the precinct is expected to comprise around 1,100 residences, alongside retail, hospitality and public realm uses integrated throughout the site.

[smartcode_project:default project_id=144441 project_image_fid=370981]

Designed by Fraser &amp; Partners in collaboration with GURNER™ Design House, the project has been positioned around the developer’s broader focus on wellness-led residential living.

“We don’t sell apartments. We create a true luxury lifestyle that simply doesn’t exist elsewhere in the market today,” Founder and Executive Chairman Tim Gurner said.

“To deliver that requires an extraordinary level of detail, coordination and discipline across multiple verticals, from design and hospitality through to wellness and service.”

“We’ve always believed that living extends far beyond the physical residence. It’s about how you feel the moment you arrive, how you live day-to-day, and the ecosystem that supports that.” 
[smartcode_project:default project_id=144441 project_image_fid=370977]

The project’s design places a heavy focus on landscaping, wellness amenities and biophilic design principles.

Plans include around 3,700 sqm of landscaped gardens and open space throughout the precinct, alongside a retail and dining offering spanning approximately 5,000 sqm.

The broader public realm strategy centres around what GURNER™ describes as the “Path of Life”, an urban forest and landscaped pedestrian environment intended to connect the various buildings and wellness spaces across the precinct.

The apartments themselves will incorporate a range of wellness-focused inclusions, including purified air and water systems, circadian lighting, antimicrobial surfaces, and optional in-home wellness upgrades.

[smartcode_project:default project_id=144441 project_image_fid=370980]

Gurner said the company’s experience through its Saint Haven wellness clubs had directly informed the residential offering now being incorporated into Elysium Fields.

“We’re seeing a clear global shift toward longevity, performance and proactive health,” Gurner said.

“Our role is to deliver that in a way that feels seamless, highly private and beautifully resolved within the environments we create.”

A large component of the wellness offering is planned through the resident amenity and health facilities proposed within the precinct.

That includes plans for bathing and recovery facilities spread throughout the towers, incorporating mineral pools, saunas, steam rooms, flotation therapy, red light therapy and wellness lounges.

The developer is also seeking approvals for what it describes as a “reverse ageing medical clinic” within the precinct.

[smartcode_project:default project_id=144441 project_image_fid=370978]

According to project information released by the group, the proposed facility would include cryotherapy, IV infusion therapy, infrared and dry saunas, PEMF beds, MRIs, DEXA scans, brain scans and blood analysis services.

Within the first tower, Helios, residents will also have access to a dedicated amenity offering known as the Sky Private Club.

The upper 15 levels of the building will include private lounges, dining spaces, rooftop amenities and optional private wellness studios integrated within residences.

The Helios tower itself comprises 260 apartments ranging between 60 sqm and 300 sqm, including a collection of penthouses.

That includes a planned two-storey penthouse spanning around 600 sqm with uninterrupted bay views.

The Elysium Fields precinct is being delivered in partnership with Digital Harbour Holdings, a consortium that includes the Liberman family, which controls the development rights across the Docklands site.

[smartcode_project:default project_id=144441 project_image_fid=370979]

The sales result comes as GURNER™ continues expanding its national development pipeline beyond Victoria.

“We have a strong pipeline across Australia and are now focused on scaling into key markets including New South Wales and Queensland, while continuing to build on our Melbourne base,” Gurner said.

“We currently have more than $3 billion in the market, growing to over $5 billion by October, and expect to materially outperform last year in the 2026 calendar year.”

The result also reflects the continued strength of the upper-end apartment market in Melbourne, particularly for owner-occupier-focused product with large-scale amenity and lifestyle offerings.

[smartcode_project_cta:default project_id=144441]

Record result anchored by the Group’s “utopian” Elysium Fields precinct – defying market headwinds in Docklands.

Joel Robinson

Elysium Fields drive Gurner to $1.65 billion in apartment sales over 2025

National Australia Bank (NAB) will fund <a href="https://www.apartments.com.au/new-apartments/palmera-residences-gold-coast-18-garfield-terrace-surfers-paradise-qld-4217">Palmera</a>, a $1 billion, 52-level luxury residential tower being developed by Central Equity in one of the Gold Coast’s most tightly held coastal locations at Northcliffe.

The project, launched recently by <a href="https://www.apartments.com.au/developers/central-equity">Central Equity</a>, one of Victoria’s largest private residential developers, comes at a time when construction funding for large residential developments has become increasingly competitive as lenders tighten exposure to the sector.

Multiplex has been appointed the builder, and construction is now underway.

[smartcode_project:default project_id=108274 project_image_fid=365784]

Since its first project, Central Equity has delivered more than 85 residential developments with a combined end value exceeding $8 billion.

Palmera reflects Central Equity’s growing focus on the Gold Coast luxury apartment market and continues a relationship between Central Equity and NAB that dates back to the late 1980s, when the bank funded one of Melbourne’s earliest inner-city residential towers at a time when high-rise apartment living in the CBD was largely unproven.

“NAB’s funding of Central Equity’s $36 million CBD development in the late 1980’s to the financing of the billion-dollar tower today highlights the long-term relationship between the two organisations in delivering major residential projects” said Central Equity Founder and Chairman Eddie Kutner.

He said NAB’s early support was instrumental in helping establish the company’s development model.

“When we commenced our first residential tower in the late 1980s the concept of funding off-the-plan apartments was still largely untested in Australia,” Kutner said.

“NAB recognised the opportunity early and supported the project when others were uncertain. That relationship has now continued for more than 37 years across many developments.”

[smartcode_project:default project_id=108274 project_image_fid=365771]

Central Equity was established in 1987 when Melbourne’s CBD and Southbank precinct were still dominated by warehouses and commercial buildings. Fewer than 100 residents lived in Southbank at the time, and large-scale residential development in the inner city was not widely considered.

Recognising changing demographics and lifestyle preferences, the company began developing high-rise residential projects designed to bring permanent residents into the city centre.

Central Equity has provided accommodation for approximately 40,000 residents across Melbourne’s CBD and Southbank, while also incorporating supporting infrastructure including essential lifestyle facilities like retail spaces, childcare facilities and neighbourhood activity centres.

Central Equity has spent many years assembling the Palmera development site on the corner of Garfield Terrace and Frederick Street in Northcliffe, creating a supersite of around 3,300 sqm.

The developer said the Palmera apartment tower reflects its long-term view of the Gold Coast as a growing and increasingly diversified economy.

[smartcode_project:default project_id=108274 project_image_fid=365768]

Supported by infrastructure including the light rail network, major road upgrades expanded education, hospital and medical facilities and continued expansion at the Gold Coast Airport with more internation and domestic flights.

Positioned in the tightly held Northcliffe precinct, the 52-level tower will deliver 347 apartments, targeting buyers seeking a high-end coastal lifestyle, from downsizers to interstate investors.

Designed by Marchese Partners with interiors by DBI, Palmera has been conceived as a next-generation residential offering, featuring a collection of oversized apartments, with premium three-bedroom residences offering sweeping northern views stretching from Surfers Paradise through to Burleigh Heads.

[smartcode_project_cta:default project_id=108274]

NAB funds $1 billion Surfers Paradise apartment development, Palmera

Two years after completing one of the newest developments in North Sydney, developer <a href="https://www.apartments.com.au/developers/aqualand-australia">Aqualand</a> is turning its attention to the rapidly evolving St Leonards apartment market.

The developer, which completed AURA by Aqualand on North Sydney's Walker Street, has lodged plans for a 5,918 sqm site at <a href="https://www.apartments.com.au/new-apartments/33-37-herbert-street-st-leonards-nsw-2065">33-37 Herbert Street, St Leonards,</a> seeking approval for a pair of residential towers rising above a shared podium opposite Royal North Shore Hospital.

The proposal forms part of the broader transformation underway across the St Leonards-Crows Nest precinct, where former industrial and commercial sites are increasingly being redeveloped into high-density mixed-use projects tied to major transport infrastructure.

<img alt="Aqualand" data-entity-type="file" data-entity-uuid="2cc428cf-fe70-4cac-9cd5-264ad53af62c" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-05-28%20at%209.51.56%E2%80%AFAM.png?VersionId=otKSnHtbjAvAddOnovyXQMgcAwE6DMe1" />

According to the planning documents, the site sits “within the St Leonards–Crows Nest Strategic Centre, identified by the NSW Government as a key area for accommodating future jobs and housing across Sydney.”

The proposal has been designed by fjcstudio, formerly FJMT Studio, and is being progressed through the State Significant Development pathway due to its scale and affordable housing provision.

The scheme would comprise 413 apartments, including 46 affordable housing units, alongside retail and commercial uses fronting Herbert Street. The project would also include communal open space, landscaping, a swimming pool, gymnasium, children’s play areas and podium-level resident amenities.

Planning documents show the development would consist of a part-13, part-39 storey tower form positioned above a four-storey podium.

“The development comprises a unified podium that activates the street interface, and two setback towers to accommodate new housing supply while maintaining an appropriate human scale at ground level,” fjcstudio noted in its Design Report.

The northern and southern towers have been shaped to respond to the surrounding skyline while also limiting overshadowing impacts to nearby public open space, particularly Talus Reserve.

The design report said the differing tower heights were intended to “contribute to a varied skyline while responding to the surrounding built form context and solar access considerations.”

<img alt="Aqualand" data-entity-type="file" data-entity-uuid="36da62dc-ff9e-41f2-a7e3-7be38373751c" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-05-28%20at%209.51.45%E2%80%AFAM_0.png?VersionId=Mo6Rp2r.XRLTzIfg_PEEpw8NepDH8UBs" />

The site sits directly opposite Royal North Shore Hospital and within walking distance of both St Leonards Station and the new Crows Nest Metro station.

While the site itself sits just outside the formal Crows Nest Transport Oriented Development boundary, the planning documents repeatedly reference its alignment with the broader TOD objectives reshaping the Lower North Shore.

“The site is located adjacent to St Leonards Station and in close proximity to Crows Nest Metro which is within the Crows Nest Transit Orientated Development Accelerated Precinct which has been identified by the NSW Government to support housing delivery,” the Design Verification Statement noted.

According to fjcstudio, the project has been designed to respond to the broader transition occurring across St Leonards, where increasing residential density is being concentrated around transport infrastructure and employment hubs.

“The broader precinct is undergoing significant change, with a mix of existing mid-rise buildings and newer high-density developments,” the report stated.

“Recent and approved projects indicate a consistent shift toward taller built form, typically organised as tower-and-podium typologies with more active ground levels.”

The proposal includes close to 6,000 sqm of retail and commercial space across the ground floor and podium levels, designed to create a more activated street edge along Herbert Street.

Aqualand’s plans would also introduce a landscaped podium shared between the two towers, with communal open space in the form of a podium rooftop designed to support resident interaction and improve urban greening outcomes. The scheme would also introduce pocket parks at the northern and southern ends of the site, including a landscaped area at the corner of Herbert and Ella streets designed to improve pedestrian amenity and soften the streetscape.

&nbsp;

The proposal is being progressed through the NSW Government’s Housing Delivery Authority pathway, which was introduced to accelerate housing supply across the state. The application was declared State Significant Development in April 2025 following an expression of interest process.

<img alt="Aqualand" data-entity-type="file" data-entity-uuid="faf6d97d-2671-454f-b85a-fe1c6a7be608" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-05-28%20at%209.51.49%E2%80%AFAM.png?VersionId=diVd28OBVr5.YV.7prrOz.uAanwwwm7a" />

St Leonards has been particularly active with new developments in recent weeks. Developer SP Setia’s <a href="https://www.apartments.com.au/news/nsw/first-look-sp-setia-targets-st-leonards-skyline-with-40-storey-tod-tower">plans for a new 42-storey tower</a> recently went on exhibition through the same pathway, while <a href="https://www.apartments.com.au/news/nsw/first-look-stockland-plans-52-storey-538-apartment-st-leonards-tower">Stockland’s 52-storey tower proposal</a> was also recently unveiled.

Aside from the St Leonards project, which is expected to take around nine months to move through the approvals process ahead of a potential 2027 launch, Aqualand is also preparing to launch Boronia, a new apartment project in Roseville comprising around 111 apartments on Larkin Street.

The developer also has approvals in place for the next stage of the Barangaroo precinct, which will feature new residential, retail, hospitality and community uses, alongside a new metro entry across the five-hectare site.

More than 50 new retail destinations are planned for Central Barangaroo, alongside a 270-metre-long boulevard connecting Hickson Park to Nawi Cove. Together with Harbour Park, more than 50 per cent of the precinct will comprise public open space and parkland.

First look: Aqualand joins St Leonards apartment party

<section data-scroll-anchor="false" data-testid="conversation-turn-5" data-turn="user" data-turn-id="e65dbe94-e3b6-47f7-b62a-9cbb30c9bf79" data-turn-id-container="e65dbe94-e3b6-47f7-b62a-9cbb30c9bf79" dir="auto">Time &amp; Place’s plans to transform the former David Jones factory building in Surry Hills into a mixed-use residential precinct have gone on exhibition through the NSW Government’s In-fill Affordable Housing pathway.</section>

<section data-scroll-anchor="false" data-testid="conversation-turn-6" data-turn="assistant" data-turn-id="request-WEB:f4d533b7-64a5-413d-86fd-5c99649c2b73-2" data-turn-id-container="request-WEB:f4d533b7-64a5-413d-86fd-5c99649c2b73-2" dir="auto">
The Marlborough House proposal, lodged for the <a href="https://www.apartments.com.au/new-apartments/marlborough-house-47-97-marlborough-street-surry-hills-nsw-2010">47-97 Marlborough Street</a> site, would see the adaptive reuse of the heritage-listed warehouse building alongside the construction of new residential additions and a separate apartment building on the northern portion of the site.

The proposal seeks approval for 172 apartments across three buildings, including 15 per cent affordable housing managed by a community housing provider for at least 15 years from occupation.

<img alt="Marlborough" data-entity-type="file" data-entity-uuid="5d1d3c2a-bf13-47d6-a335-7c01102cdee1" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-05-28%20at%209.29.36%E2%80%AFAM.png?VersionId=cjMYrbR.BLUlWH4dar0RVDDo0bG.u2YT" />

Interior view from the Northern Building Penthouse overlooking the park

&nbsp;

The redevelopment is planned for the prominent 3,413 sqm site bounded by Marlborough Street, Goodlet Street and Lansdowne Street, directly opposite Eddie Ward Park and around 200 metres from the Surry Hills light rail stop.

Time &amp; Place acquired the former David Jones building in 2024, marking the first time the property had changed hands in around 50 years.

Designed by Wardle, the proposal centres around the adaptive reuse of the former David Jones factory, originally constructed between 1913 and 1935 in the Inter-War Chicagoesque architectural style.

Wardle noted in its Architectural Design Report that the building “occupies a significant place in the industrial and cultural history of Surry Hills” and at its peak was “the largest department store manufacturing facility in Australia, employing over 800 people and fuelling the growth of Sydney’s fashion and retail industries.”

The practice said the project positions itself “not as an isolated intervention, but as a contributor to the civic, social, and architectural grain of the precinct.”

The proposal would deliver 75 apartments within the retained southern heritage building, 59 apartments within the central addition, and a further 38 apartments within the new northern building fronting Lansdowne Street.

Planning documents show the scheme would comprise a mix of heritage apartments, new-build apartments, townhouses and penthouses.

<img alt="Marlborough" data-entity-type="file" data-entity-uuid="57758518-40a3-4b83-958c-d06e96a2cffa" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-05-28%20at%209.29.42%E2%80%AFAM.png?VersionId=VerlX9ST5xgBi8.1_YRsqdWTJeT6ygjs" />Interior View of the Heritage Building Apartment

The development would also include a ground-floor retail tenancy on the corner of Marlborough and Lansdowne streets, rooftop communal open space, a landscaped pedestrian link along the western edge of the site, and basement parking accessed from Lansdowne Street via a car stacker system.

&nbsp;

The scheme emerged from a competitive design process run by Urbis, with Wardle ultimately selected as the winning architect ahead of FJC Studio, TZG, Architectus and Wilkinson Eyre.

The Design Integrity Panel later described several aspects of the Wardle scheme as fundamental to the project, including “the stepped character of the new addition to the north of the site”, the landscaped western pedestrian link, and the “garden arrival” experience separating the original Marlborough House from the heritage addition.

Wardle’s design heavily references the site’s industrial and heritage history, while also responding to the surrounding Surry Hills streetscape.

The Architectural Design Report describes Surry Hills as “a finely grained neighbourhood with beautiful and expressive brickworks throughout the suburb,” with the proposal introducing a material palette intended to sit comfortably alongside the existing warehouse fabric and neighbouring terraces.

The report also outlines the project’s relationship with Eddie Ward Park and the broader landscape context of the area.

“Marlborough House occupies a site of deep cultural memory and the neighbouring Eddie Ward Park is of local ecological significance, where natural systems, topography, and stories have long shaped human experience,” Wardle noted in the report.

The architects said the proposal sought to “rebind built form to Country” through landscape, materiality and the adaptive reuse of the heritage structure.

<img alt="Marlborough House" data-entity-type="file" data-entity-uuid="9ae3f2f9-c85f-477a-a6f8-b43f6cb97c41" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-05-28%20at%209.29.53%E2%80%AFAM.png?VersionId=B.qUCLqRvJOR.n9CvYcTpaknIX9LuqKZ" />

The project is also being progressed under the NSW Government’s in-fill affordable housing provisions, allowing developments that include affordable housing to access additional height and floor space incentives.

Under the plans, 2,593 sqm of the project’s floor space would be dedicated to affordable housing, slightly exceeding the required 15 per cent threshold.

In its Design Excellence Strategy, Urbis said the project aimed to “sensitively adapt and enhance the heritage-listed building on site through alterations and additions that preserve its historical significance” while delivering “high-quality market and infill affordable housing development in Surry Hills.”

Time &amp; Place has been one of the most active developers nationally in the last 12 to 24 months. Late last year they completed&nbsp;The Queensbridge in&nbsp;<a href="https://www.apartments.com.au/developments/southbank-vic-3006">Southbank</a>, a mixed-use tower with 353 apartments and a hotel. They are currently selling Park Modern, 246 apartments near the famous Botanic Gardens in&nbsp;<a href="https://www.apartments.com.au/developments/south-melbourne-vic-3205">South Melbourne</a>, and have future projects, <a href="https://www.apartments.com.au/new-apartments/the-wilmot-173-burke-road-28-hope-street-glen-iris-vic-3146">The Wilmot</a>&nbsp;in&nbsp;<a href="https://www.apartments.com.au/new-apartments/glen-iris-vic-3146">Glen Iris</a>, the redevelopment of the Northcote Plaza, and another tower in South Melbourne.

The developer broke into Sydney just a few years ago with Two Tides in Manly. They have another project nearby, which is at the ultra-luxury end of the market on&nbsp;<a href="https://www.apartments.com.au/buildings/shoreline-manly-beach-89-90-north-steyne-manly">North Steyne</a>, fronting the beach.

It is also continuing to work through the <a href="https://www.apartments.com.au/news/nsw/first-look-time-place-settles-on-design-for-the-chimes-potts-point-redevelopment">redevelopment of The Chimes building</a> on Macleay Street in&nbsp;<a href="https://www.apartments.com.au/developments/potts-point-nsw-2011">Potts Point</a>, as well as a project on <a href="https://www.apartments.com.au/news/nsw/time-place-to-take-on-mosman-apartment-market">Mosman's Redan Street</a>.
</section>

First look: Time & Place unveils Marlborough House redevelopment designs for former David Jones warehouse in Surry Hills

The residential transformation of St Kilda Road is set to continue into with more new apartment plans for the sought-after boulevard.

Wing Tai Asia has lodged plans for a major residential tower at 464-466 St Kilda Road, replacing the former VACC House with an 18-storey mixed-use development designed around a retained heritage podium and a sculpted contemporary tower.

The proposal, prepared under Victoria’s Significant Residential Development with Affordable Housing pathway, would deliver 325 apartments and ground-floor retail across the prominent 4,653 sqm boulevard site in Melbourne’s St Kilda Road North Precinct.

The project centres on the adaptive reuse of the site’s heritage-listed VACC Building, an eight-storey office designed by Bernard Evans that has occupied the address for decades. Planning documents state the development would involve “carefully dismantling and conserving off-site the original metal fabric of the podium visible from St Kilda Road,” before reinstating it as the defining frontage of the new scheme.

Above the restored podium, Wing Tai is proposing a curvilinear residential tower. The scheme includes 172 one-bedroom apartments, 63 two-bedroom apartments, 66 three-bedroom apartments, and 24 four-bedroom apartments, alongside two ground-floor food and beverage tenancies fronting St Kilda Road.

The tower has been designed with substantial articulation and variable setbacks to minimise perceived bulk and maintain view corridors along the boulevard. Urbis, which prepared the planning report, said the design “has been significantly articulated through a curvilinear design” with “an interplay with materials, façade expression and depth” to create visual separation and visual interest.

The proposal also includes 254 basement car spaces, landscaped pedestrian links connecting St Kilda Road and Queens Lane, and a biophilic landscape strategy featuring canopy trees, raised planters, cascading greenery and a glass oculus pool overlooking the eastern frontage.

Planning documents confirm the $270.1 million development will contribute 3 per cent of project costs to the Social Housing Growth Fund as part of the application process.

Wing Tai acquired the St Kilda Road property in 2018 alongside Abacus Property Group for $95.38 million, before later consolidating ownership of the site. The property previously served as the Victorian Automobile Chamber of Commerce headquarters for around 60 years.

The transformation of the St Kilda Rd boulevard is already beginning to materialise, with a number of high-profile projects recently completed, launched, or approaching launch as developers continue to back the long-term appeal of the precinct.

Among the most notable recent completions is Louise by Samuel Property Group, just off the strip on Queens Lane, the same pocket Hirsch &amp; Faigen recently launched The Queensbury. Mirvac is too on the same street with The Albertine, which is approaching completion.

Dexus recently secured approval for its slice of St Kilda Road, while Gurner also has approved plans for the precinct.

Wing Tai unveils 325-apartment St Kilda Road tower on former VACC House site

Commercial

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South Australian breakfast radio presenter Jason ‘Snowy’ Carter and his wife Kate have listed the Adelaide Hills tourist attraction, the Hahndorf Farm Barn.
The Hahndorf Farm Barn allows visitors to hold, touch and feed animals in a working farmyard.
<a href="https://www.toop.com.au/details.asp?id=17738" target="_blank">The 2282 Mount Barker Road offering</a> has been listed through Arabella Hooper of Toop &amp; Toop Real Estate who said the couple had grown the business by over 140% since acquiring the property four years ago.
The farm business began in 1999.
The nine hectare holding comes with a five bedroom house.
They have bought a 40-acre Hills block. Offers are due by 14 October.
{qtube vid:=tGcF3HWQjZQ}
 
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jchancellor-FAypfDUnLy

Adelaide Hills' Hahndorf Farm Barn tourist attraction up for sale

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Cohen Handler, the Sydney buyer’s advocacy group, has seen a significant increase in demand from buyers enquiring about commercial property.
“In the last year, we have seen a 20% increase in enquiries about commercial property from our existing residential clients looking to expand their property portfolios,” said Ben Handler, the Cohen Handler chief.
"While some buyers are looking to diversify their self-managed super funds, others are interested in purchasing commercial real estate to service their business needs and diversify their portfolios. As such, Cohen Handler identified an opportunity to better service commercial buyers."
Founded in 2009, Cohen Handler has appointed Michael Salvartsis as head of its newly created commercial division. 
With over 27 years’ experience in the business and property sectors; Salvartsis has managed property risk and valuation teams at HSBC Bank for the last 12 years. 
Salvartsis has also held management roles at Chesterton International and First State Property Group. 
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Surge in commercial property enquiries: Cohen Handler 

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Although we often hear about the involvement of foreign investors in our residential markets, they also play a substantial role in our commercial property sector.
Here are five commercial property investments from offshore buyers that have made a big impact on our local markets.
<ol>
<li>
Leighton Headquarters, 177-199 Pacific Highway, North Sydney Price: $413.19 million Buyer: Suntec REIT The Singapore based Suntec Real Estate Investment Trust (REIT) purchased the 30 storey, 40,000 square metre Leighton Headquarters tower late last year. However, Leighton Properties retains the lease on 76% of the office space. Suntec REIT was listed on the Singaporean stock exchange in 2004. 
</li>
<li>
ATO Tower, 747 Collins Street, Melbourne Price: $279 million Buyer: CIMB TrustCapital Advisors Singapore CIMB TrustCapital Advisors Singapore spent $279 million on the ATO Tower in Lang Walker's Collins Square Project in Docklands. The ATO Tower is the central feature of the Collins Square precinct, valued at $1.5 billion. CIMB TrustCapital Advisors Singapore is a joint venture between CIMB, a Malaysian investment bank, and Trustcapital Advisors Singapore. The venture's initial fund, Australian Office Fund No. 1 (AOF1), centres around commercial office investments in Sydney and Melbourne, with Canberra and Brisbane as secondary markets. 
</li>
<li>
179 Turbot Street, Brisbane Price: $172 million Buyer: Kumpulan Wang Persaraan Kumpulan Wang Persaraan, Malaysia's second largest pension fund, purchased the Brisbane office tower at 179 Turbot Street late last year. The fund is also an investor in the CIMB TrustCapital Advisors Singapore managed AOF1, the vehicle used to purchase Melbourne's ATO Tower. 
</li>
<li>
Ausgrid building, 570 George Street, Sydney Price: $151.8 million Buyer: Far East Organisation The Ng family's Far East Organisation, Singapore's largest private property developer, bought the Ausgrid building earlier this year. The developer has spent more than <a href="/news/the-ngs-singapores-richest-family-spend-425-million-on-sydney-trophy-property">$700 million on Australian property</a>. Last year, <a href="/news/singaporean-billionaire-philip-ng-buys-yamba-scotland-islands-finest-heritage-home">Philip Ng purchased Yamba</a> in Pittwater for $7 million. The Ngs are Singapore's richest family.  
</li>
<li>
277 Elizabeth Street, Sydney Price: $143 million Buyer: Far East Organisation After purchasing the 277 Elizabeth Street office complex, Far East Organisation is reportedly planning a luxury apartment redevelopment on the site. Other Australian acquisitions include Bob Ell's Clocktower Square in Sydney's Rocks district, and two Park Street buildings for $127 million. The Ng brothers, who inherited the development company from their father, are valued at $10 billion, according to Forbes.</li>
</ol>
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jrichardson-uRX5hFdKfN

Five of the biggest commercial property transactions to offshore buyers

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AMP Capital has bought the National Australia Bank building in Docklands for $433.5 million.
The Cbus built property, designed by Woods Bagot, at 700 Bourke Street was completed last year.
It is 99% leased to NAB, with an average lease expiry of 13 years. 
There are 4% fixed rental increases which will boost the long-term income yield to 7%.
But the initial yield is 5.75% for the new 63,000-square-metre building.
Colliers International agents John Marasco, Nick Rathgeber, and Leigh Melbourne and Savills agent Ian Hetherington handled the sale.
{qtube vid:=cwF1_nYjzo8}
Photos courtesy of <a href="https://www.woodsbagot.com/project/national-australia-bank-docklands" target="_blank">Woods Bagot</a>.
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AMP Capital buy the Woods Bagot-designed NAB Docklands office

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A Chinese investor has purchased the three-storey Junction Club in Moonee Ponds for $10.7 million.
CBRE's Justin Clarkson and Scott Callow sold the club at <a href="https://www.realcommercial.com.au/property-hotel+leisure-vic-moonee+ponds-501058655" target="_blank">740 Mount Alexander Road</a> on behalf of the private syndicate, United Investment Management.
It sold at $8.4 million in 2011.
The property is largely leased to Harness Racing Victoria until 2022. There is a total passing income of $802,500 per annum.
The long established gaming venue with 80 EGM's, public bar with Pub TAB and bar/bistro.
It had the potential for a high rise residential development on the 1,943 square metre holding at the intersection connecting Mount Alexander Road, Ascot Vale Road, Pascoe Vale Road, Dean Street and Puckle Street. 
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Chinese investor buys Moonee Ponds Junction Club

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Savills have advised clients on what they see as the four advantages of utilising SMSF for direct commercial property investment, in preference to other asset classes.
<ol>
<li>Commercial property is one of the few assets that can be bought by an SMSF from its members. Your SMSF can potentially buy your own business premises and then you can pay rent to your SMSF. A residential property, on the other hand, cannot be lived in by a fund member or any fund members’ related parties, nor can it be rented by a fund member of any fund members’ related parties.  </li>
<li>
The MoneySmart website details the strict rules against using borrowed funds to make improvements to residential property that forms an asset in your SMSF portfolio, so don’t even think about buying a renovators’ delight. This can severely limit potential capital gains as you cannot renovate it to increase its value. In contrast, an investment such as a bulk storage unit or warehouse has very low capital expenditure requirements. 
</li>
<li>Commercial leases are typically for a longer period than residential leases – usually around five years with a further option for another five years with incremental rental increases built into the lease. If you choose the right property and tenants with stable businesses which are unlikely to be adversely affected by an economic downturn you won’t have to deal with a regular turnover of tenants and can rely on a steady rental return.  </li>
<li>Many industrial properties are purely functional in design and construction, so there is less concern about tenants maintaining them or investors having to pay for costly renovations, which is often the case with residential property investments. That said, it’s important to ensure any essential, expensive upgrades, such as those required to meet new fire safety or health and safety standards, have already been carried out before investing in a commercial premise.</li>
</ol>
Visit the <a href="https://www.asic.gov.au/" target="_blank" title="Australian Securities and Investments Commission ASIC">Australian Securities and Investments Commission (ASIC)</a> website to familiarise yourself thoroughly with all the rules and regulations surrounding SMSFs and property investment.
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Four reasons why commercial and industrial property suits SMSFs: Savills

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Martindale, a Kings Cross terrace with 10 bedrooms and 11 bathrooms has been sold for $2 million pre-auction by McGrath Estate Agents.
The property with a distinctive dark crimson facade at 52 Kellett Street features an insightful floor plan indicating (pictured below) the purposeful layout.
Click to open in new window:
<a href="/images/2014/07/22/potts-point-july-22-floor-plan.gif" target="_blank"><img src="/images/2014/07/22/potts-point-july-22-floor-plan.gif" alt=""></a>
It featured in the 1999 SMH report by the investigative duo Kate McClymont and Andrew Clennell entitled, "Our Brothel Barons".
At the time it reportedly traded as Classique, a brothel whose advertising once boasted of a speciality in lesbian double acts. It has more recently traded as Studio 52, Star 52, Antonio’s Angels and Secret Desire. The rates have been at around $120 for 30 minutes.
The building, which has been marketed as in Potts Point, was listed previously in 2011, 2012 and 2013 without success.
It last traded at $2.1 million in 2006 when bought by ETC Australias Group Pty Ltd. Its earlier sales were $1.5 million in 2004 and at $1.38 million in 1999.
The premises were for sale, not the business.
More than $1.8 million was being sought.
There is no registered lease, with no rental income advisory given in <a href="https://www.mcgrath.com.au/buy/house-potts-point-nsw-2011/228008/?searchID=41071082" target="_blank">the McGrath marketing</a>.
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Pre-auction $2 million deal for Kings Cross 'special' offering

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A majestic 1930s Brisbane art deco triplex has been listed for sale for the first time offered in almost 50 years.
The Carrington on Gregory Terrace at Spring Hill has views across parklands to the City skyline. 
It is a 567 square metre corner block with four garages off Bathgate Street.
<a href="https://www.raywhite.com/qld/spring-hill/1186893/" target="_blank">Offers close with Ray White</a> on 24 September.
The ground floor is approved as an office and is currently used as a specialist doctors practice but could easily convert back to residential. 
The expected gross returns if fully rented are given as $120,000 per annum by agent Dean Yesberg.
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Art deco Spring Hill, Brisbane triplex listed

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A commercial office building at 2-6 Bowes Street (pictured above) in Canberra's Phillip was recently launched after undergoing a significant refurbishment to improve its energy efficiency.
The building, owned by boutique property fund manager Quintessential Equity, is targeting a 5-star National Australian Built Environment Rating System (NABERS) energy rating. The company recently acquired two other commercial properties in Canberra, 14 Moore Street and the Optus Centre in Civic.
We spoke to Russell Bullen, head of Property at Quintessential Equity, about energy efficiency in the commercial property space.
How has the demand for "green" office spaces changed over the past ten years?
It's certainly evolved significantly in that time. I think the whole "green movement" gained a lot of momentum, and it was certainly assisted by the government's changes to legislation around disclosure.
If you sell or lease a building, you now have to disclose your NABERS  energy rating.
Up until the changes, it was really dependent on market forces. It was up to tenants to really demand energy efficient buildings, or really up to the landlords, off their own backs, to disclose. So once the legislation came in, it provided more accountability around energy efficiency - if you had a building with poor energy efficiency, but didn't have to disclose it, there wasn't much of an incentive to improve that.
I think that's probably been the biggest change in that time period.
What are some elements that make commercial office buildings "green"?
Probably one of the things that gets forgotten is management.
And one of the biggest improvements in energy efficiency, and reducing our carbon footprint, is good management. We have a national engineering manager whose main focus is just that. That is probably one of the biggest impacts that you can make to a building - making it operate efficiently.
Apart from that, you can introduce things that are very costly, in terms of plant and equipment. You can improve heating and chilling and make that more energy efficient, and also use computer building management systems to improve efficiency.
What are the benefits of energy efficient office buildings to investors and tenants?
From a tenant's perspective, the operating costs are less.
We've got a project in Parramatta, where we were awarded Best Commercial Building Energy Efficiency Project by the Energy Efficiency Council. We've seen the electricity costs in that building fall by more than a third from work that we did. We were able also to achieve a four and a half star NABERS energy rating there.
The reduction of cost is a real and tangible benefit, and you also of course have an environmental benefit.
But also buildings that have a higher NABERS rating have a greater level of comfort and reliability, which is better for landlords because it improves tenant retention. From a landlord or investor's perspective, if you can make a building run efficiently, reliably and comfortably, you're going to retain tenants for longer.
Outside of Canberra, are there places where energy efficient office spaces are in greater demand than others?
If you had to say one location where energy efficient buildings were more in demand, it probably is Canberra. In Canberra, over two thirds of tenant demand is from the government (either Commonwealth or ACT). They actually have requirements within their leases that buildings have to achieve certain levels of energy efficiency.
Outside the ACT, in general, CBDs where there are large corporations who also have efficiency targets also show strong demand.
What role do you predict "green" innovation and energy efficiency will play in the commercial property market in 10 years time?
It's a difficult question, because there was certainly a strong impetus for energy efficiency, but when the GFC [global financial crisis] happened, there was a focus on cutting costs. And that's the thing with achieving energy efficiency - there is an upfront capital cost.
But if you take a 30,000 foot view, it's inevitable that it will continue to grow and get more traction. Disclosure obligations aren't going to go away. Companies are more and more focussed on their costs, and that's only going to continue in terms of ongoing operations. Outgoings are a significant part of companies' operating costs - so energy efficiency is not going to go away.
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Q&A with Russell Bullen of Quintessential Equity

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A small construction company is aiming to tackle Tasmania’s high rates of obesity and cardiovascular disease by starting to change people’s attitudes to exercise and healthy eating in the workplace.
Ronald Young &amp; Co Builders in Hobart have been constructing homes in southern Tasmania for more than 40 years. Husband and wife duo Lisa and Paul Burnell purchased the business in 2011 and immediately recognised the importance of implementing a successful health and wellbeing program.
Lisa Burnell said research shows <a href="https://www.smartcompany.com.au/people/42402-one-in-five-workers-has-stayed-home-in-past-year-because-they-felt-mentally-unwell-study">healthy workers are nearly three times more productive than unhealthy workers</a>. In addition, they have fewer sick days and workers compensation claims.
“The benefits to our business have been that it’s been enhanced teamwork and workplace morale,” she said. “It demonstrates that we value a positive work environment.”
As part of the program, the company’s 10 permanent employees receive free health checks on site – such as blood pressure monitoring – and are encouraged to eat healthy and exercise.
“I’m a registered nurse so I have found it easy to incorporate this into our business,” Burnell said when describing the program. “I also develop an annual calendar of events and other initiatives – men’s health, prostate awareness, cardiovascular disease. There’s a lot of information out there.”
The business’s actions have not only improved their brand image but also their involvement in the local community.
“Tasmania has one of the highest rates of obesity,” she said. “Construction workers are blue collar workers and alcohol and smoking is high. So for me with my background it’s good to be able to try to initiate some health improvements.”
Burnell points out while a lot of SMEs don’t have the time or resources to implement a health and wellbeing program as extensive as theirs, if you are a business owner it is still worth putting health and safety high up on your list of priorities.
“The return on investment is high,” she said. “It’s not only our legislative obligations – and I think a lot of businesses are aware it’s good business.”
Burnell said if other small enterprises wanted to follow suit, then her top tips would be to include health and wellbeing in the business’s core values and to get staff involved.
“Do a needs assessment,” she said. “See what your health needs are in your workplace. Start off small and network with other businesses.”
This article first appeared on SmartCompany. 
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