The enormity of delivering a true skyscraper in Australia's new development market is often overlooked.

It has taken the best part of a decade since plans for Chevron One were first unveiled, but the 52-storey tower is now complete, with residents collecting their keys and moving into what has become one of the Gold Coast's most recognisable new landmarks.

Rising 127 metres above Chevron Island, Chevron One stands almost twice as high as any other building on the island. Its scale places it alongside the trio of towers at Jewel, arguably the last truly significant addition to the central Gold Coast skyline when they were completed around six years ago.

While there are several developments underway around a similar height to Chevron One, they are more concentrated within clusters of the highest towers in the city. The fact Chevron One sits within a developing precinct, looking back at the other high-rise developments in Surfers Paradise and Broadbeach, makes it a different proposition altogether. It will certainly become a reference point on the Gold Coast skyline.

[smartcode_project:default project_id=6515 project_image_fid=68833]

Developer Bensons Property Group is behind the 52-storey tower, which has just shy of 250 apartments, along with an exhaustive list of resident amenity spread across what is the largest development site ever assembled on Chevron Island.

The tower has been the talk of the town for years, says Ray White Projects Gold Coast agent Caitlin Rosenboom, who is selling the remaining apartments.

"People have been watching Chevron One go up for years," Rosenboom says, adding that many prospective buyers have been surprised by the scale of the views once they step inside.

"It's only when they walk through a completed apartment that they truly understand the position of the building," Rosenboom says.

"The views are jaw-dropping. Whether you're looking east over the ocean, across Surfers Paradise, along the river systems or out to the hinterland, every level offers something different but equally impressive."

[smartcode_project:default project_id=6515 project_image_fid=360215]

One of Chevron One's defining advantages is its location on the eastern side of Chevron Island on Stanhill Drive, a position which protects the views forever.

"There's only one row of houses between Chevron One and the water, and the height restrictions along the river means views from Chevron One can never be built out,"&nbsp;Rosenboom says.

While new apartment developments continue to emerge across the Gold Coast, Rosenboom says opportunities to secure a completed apartment with this level of outlook are becoming increasingly rare.

"The size of the site is something that would be incredibly difficult to replicate today," she says.

"That's allowed Chevron One to deliver the sort of amenity, open space and resident facilities that very few projects can offer. There are not many completed apartment buildings on the Gold Coast right now that can compete with the combination of scale, quality and amenity."

[smartcode_project:default project_id=6515 project_image_fid=68839]

There's around 2,000 sqm of amenity solely for the use of residents of Chevron One. Club One features a uniquely shaped swimming pool that mirrors the footprint of the building itself, set within a extensively landscaped gardens. There's also an indoor pool and spa, a fully equipped gym with a Pilates room, a yoga garden, a bookable private dining area and lounge that can host up to 30 people, and a 24-hour concierge service.

As for the buyers, Rosenboom is fielding enquiry from everywhere: Sydneysiders and Melburnians looking at the new and off-the-plan market following the changes in the Federal Budget, as well as those looking to relocate, through to South East Queenslanders seeking either a permanent home or a weekender bolthole.

"The Gold Coast lifestyle continues to resonate with people relocating from the southern states, and when they see the views and the quality of what's been delivered at Chevron One, it becomes very easy for them to understand the appeal," Rosenboom says.

A diverse mix of one, two and three-bedroom apartments remain available, with each offering "something a little different", be it the orientation and views, configuration, or level, to suit a wide variety of buyers.

The remaining apartments are ready to inspect in person, by appointment.

[smartcode_project_cta:default project_id=6515]

Joel Robinson

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

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

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

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

Elevated amenity anchors daily life at Aeris, Melrose Park

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.

<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/tsioMLcnjas?si=zq-ys3JuWpfa5hFv" title="YouTube video player" width="560"></iframe>

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]

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

Commercial

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The bulky goods entrepreneur Brett Blundy has expanded his beef operations buying another cattle station in the Northern Territory.
The $6.5 million acquisition of Amungee Mungee Station near Katherine will increase the herd capacity to 150,000.
BBRC diversified into beef in 2010 with a stake in Barkly Pastoral Company.
Until the latest purchase it had 85,000 head of cattle at three other beef stations in the Northern Territory's Barkly Tableland. 
BBRC exports most of its live cattle to Indonesia with some to Vietnam, a BBRC spokesman told Fairfax Media.
BBRC has bought Amungee Mungee in partnership with Bullwaddy, which has a minority stake in the station. Bullwaddy owners Adrian and Emma Brown will oversee the daily operations at the 316,900-hectare station.
BBRC now have an interest in 1.4 million hectares.
The Beef Central website recently wrote that Amungee Mungee's new owners planned to increase the number of watering points from 20 to 160 over the next three years.
Located east of Daly Waters, Amungee Mungee was recently sold bare of stock by the Zlotowski family.
The Browns are also owners of Katherine-based business Northern Stock Water, which is the only manufacturer of polyethylene (PE) pipe products in the Northern Territory.
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jchancellor-FAypfDUnLy

Brett Blundy expands Northern Territory cattle station holdings

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Geelong's most notorious eyesore is on the market once more, after a 30 year development saga.
Tim Truong has relisted the vacant corner site at 10 Bellerine Street through <a href="https://www.realcommercial.com.au/property-retail-vic-geelong-501209787" target="_blank">KBL Commercial Real Estate</a>.
The 1,548 square metre property, first opened as the Belle Vue Hotel in 1853, is listed with a $3 million to $7 million price guide.
Although Truong pulled the site off the market after less than a month last year, selling agent Michael Lewin told The Geelong Advertiser that this time, he was ready to sell.
"We have been dealing with the vendors for many years and he is a genuine seller,” said Lewin.
“We have an authority signed by the vendor to sell by way expression of interest.”
He also said that Truong's family was open to discussions about the price.
Months before last year's short-lived listing, Truong reportedly said he had plans to spend $40 million developing the property.
According to The Geelong Advertiser, Truong previously lodged plans to develop on the site with the council five times: in 1984, 1988, 2003, 2004 and 2006. It currently falls within the council's Activity Central Zone.
KBL Commercial Real Estate will accept expressions of interest until Thursday 31 July at 4pm.
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jrichardson-uRX5hFdKfN

Putting on The Ritz: Geelong eyesore relisted

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A new zoning plan and planning controls for much of the City of Sydney’s employment lands has been endorsed by the council for exhibition. This covers much land currently zoned for business or industrial purposes.
Some industrial areas are expected to be retained for traditional uses, while other zones are to be introduced or expanded. This includes a B6 Enterprise Corridor zone to add to the B7 Business Park zone.
Knight Frank’s manager of town planning for Sydney, David Workman, said that the proposed changes are extensive and it is crucial to be aware of the implications on an individual property basis.
“A small change can often make a significant difference either positive or negative, particularly in terms the type of development permitted within a new zone and at what density,” Workman said.
The report that had been prepared for the Council included the following proposed changes:
<ul>
<li>A core industrial zone in the South West part that will continue to accommodate ‘traditional industrial’ uses;</li>
<li>A flexible enterprise corridor zone through the centre part that will accommodate lower density industrial and commercial uses; and</li>
<li>Business park zones in the North West and South East parts that are close to transport, services and amenities and that will provide for denser commercial activity over time.</li>
</ul>
Source: Knight Frank
It’s noted that private residential development will be restricted on the employment lands, with the exception of a Botany Road section that currently permits shop-top housing and senior housing.
Affordable housing opportunities may also be provided for.
Daniel O’Brien, Knight Frank South Sydney agency director, said that the rezoning for some of those currently zoned IN1 General Industrial means good things with the potential for higher order commercial uses than currently allowed. He also noted that it’s expected to drive employment, and therefore commercial development.
“The trend for older industrial style buildings, to be regenerated into funky office space will only gather more pace and as long as the current demand for this type of office accommodation remains strong, it will be a win:win for developers, tenants and occupiers and building owners,” Mr O’Brien said.
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How the City of Sydney’s new zoning plan affects commercial property: Knight Frank

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Quest Serviced Apartments is more than doubling its room numbers in Western Australia over the next two years. 
<div>
<div>Three of the properties are located in central <a href="/news">Perth</a> on Adelaide Terrace, Kings Park Road and Mounts Bay Road, in response to increasing demand from a thriving corporate sector.
</div>
<div> </div>
<div>The other two properties are located on Flinders Lane in <a href="/news">Rockingham </a>and the corner of Pakenham and Short Streets in <a href="/news">Fremantle</a>. 
<div>
Providing accommodation to around 30,000 business travellers annually, Quest currently operates nine properties in WA at <a href="/news">Bunbury</a>, Harbour Village, <a href="/news">Mandurah</a>, on James, <a href="/news">Rheola</a>, <a href="/news">Scarborough</a>, <a href="/news">South Perth</a>, <a href="/news">West End</a> and <a href="/news">Kalgoorlie</a>.
When doors open on the five new properties, Quest will offer a total of 871 rooms across the state, anticipating hosting more than 60 thousand extended-stay business travellers each year – a 128% increase on the existing number.
All five properties have received development approval with construction commenced on all except Fremantle and Adelaide Terrace, both of which are expected to see works start in the next month.
Quest chief Zed Sanjana said Perth had leading occupancy rates with high room yield growth.
“The demand in the West is being primarily driven by the corporate market and we feel the time is right to capitalise on these strong economic indicators and push our growth, with five new developments underway to more than double our current room numbers.”
</div>
</div>
</div>
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Quest shows confidence in Perth with plans to double room numbers in state

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Foreign investors are paying inflated prices for commercial property in Australia as yields are still better than the low interest rates available offshore, a local fund manager says.
Australian Unity head of property, mortgages and capital markets Mark Pratt said foreign buyers were ignoring softness in Australia’s economy, weak business and consumer sentiment and high vacancy rates in commercial property to snap up buildings.
“We have an extraordinary level of cash looking to invest in Australia, domestically and offshore, driven by Australia being seen as a safe haven destination for capital but also, whilst we have historically low interest rates, they are, in a relative sense, higher than most jurisdictions,” Pratt said.
Commercial property in Australia is offering cap rates of 7% to 7.5%, which is considerably higher than the local cash rate of 2.5%, Pratt said. In Asia, where cash rates are even lower, the difference between the returns available and the risk-free rate is even greater, driving demand from offshore.
Some buyers were paying 20% more for buildings that Pratt judged their value to be.
“Private capital is coming in from overseas, it’s here as a holding purpose rather than any underlying fundamentals and that introduces some interesting dynamics into the buying market,” he said.
Pratt said the increased demand from overseas buyers made it difficult for fund managers that had a mandate to invest through varying property cycles to identify assets that offered good value. There were still opportunities in secondary office space and healthcare properties, he added.
It was also making owners who had not been planning to sell their assets consider the possibility.
“If we get a good offer we have to consider whether it’s worth selling even if it’s not in our plan,” Pratt said. “We have to balance [a sale] against the risk in the future. With demand coming in that’s happening more frequently.”
Pratt said AUI was always working to improve the income generated by the properties it owned in its funds but weak tenant demand was limiting the opportunities. 
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Foreign investors paying inflated prices for commercial property: Fund manager

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A vacant development site in Caloundra’s CBD is going to auction this month, through Ray White Commercial Caloundra’s Alan Gray and Len Greedy.
The 22 Omuz Avenue site was formerly the Tesch brothers’ timber and hardware business.
Greedy said that it is a slice of Caloundra’s history, and the owner is selling due to changed circumstances of Pipi Holdings Pty Ltd.
“For around 50 years the Tesch family enterprise supplied timber and associated hardwares from their Ormuz Avenue and Bulcock Street lands for a majority of homes being built in the Caloundra area,” he said.
“The Tesch enterprise through its outlets in Ormuz Avenue and Bulcock Street made an enormous contribution in a practical sense to the establishment of Caloundra, Golden Beach and the environs of Caloundra.”
The buildings that were previously on the site were damaged by vandals in the 1980s and subsequently levelled.
The 2,588 square metre site is one of the last remaining vacant blocks in the area, said Gray.
“The land is being offered in one line or alternatively in two portions of approximately 1,340 sqm and 1,248 sqm,” he said.
It has 72 metres of frontage of Omuz Avenue and is zoned to Caloundra Regional Business Centre with general zoning commercial.
“This is an opportunity to enter a thriving commercial area in one of Australia’s fastest growing cities,” he said.
The auction takes place at 11am on 19 July at the Caloundra Events Centre.
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Piece of Caloundra history for sale as development site

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The Uniting Church has nominated Leighton Properties as the preferred developer for the restoration of their Wesley Upper Lonsdale Street property, noting their ideal to keep the site reflecting God’s concern for the environment.
Now in documentation and approval stage, the final plans are expected for September this year for the property, which sits in the most tightly held precinct of Melbourne’s CBD.
The plan for the site is to revitalise but retain its history and cultural significance, said Leighton Properties national head of commercial Andrew Borger.
The development is to include an A-Grade commercial office tower, a Town Square and courtyard/garden spaces.
Currently, the Wesley Church is located centrally on the site. It will be retained and restored, in addition to the Parsonage/Manse, School House and Caretaker’s Cottage.
“Leighton Properties' capabilities and experience in providing innovative solutions for large-scale projects positions us well to deliver on what will become a quality, landmark development for The Uniting Church,” said Borger.
“This development offers the opportunity to positively address the underlying demand for space in Melbourne's CBD. We are looking forward to working in partnership with all key stakeholders to create a green, active, connected and welcoming urban environment that retains the best aspects of a calm sanctuary in the urban realm,” he said.
Meanwhile, Wesley Church minister Alistair Macrae, who was also a member of the Project Control Group, said that the Church’s mission was at the centre of Leighton Properties’ proposal.
“We want to ensure that the developed spaces enable relationships between people, that its uses are consistent with the values of the Uniting Church and reflect God's concern for the environment,” said Macrae.
“The transformation of this historic site as an important social, commercial and missional space places the church at its centre, opening up opportunities for the Wesley congregation to be in mission with the changing demographic of the inner-city,” he said.
Wesley Mission Victoria chief executive officer Rob Evers said Wesley was committed to the project and would return to Lonsdale St when the development is completed.
Head of property for The Uniting Church in Australia, Paul Walec, said that the transaction structure with Leighton Properties looks to balance their mission with risk and commercial outcomes.
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The Uniting Church choose Leighton for Melbourne CBD Wesley Church site

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Brisbane-based Sentinel Property Group has purchased the Tuggeranong Homeworld Centre for $31 million, with their plans to expand their retail property sector presence further south.
The Sentinel Tuggeranong Retail Trust acquired the property with a forecast year one distribution of 10.25% per annum, paid monthly. The sale was undertaken by Carl Molony and Phil Gardtland of Stonebridge Property Group.
The Homeworld, at 150-180 Soward Way, Greenway, is on a single-level and attached to an office. It covers 21,945 square metres, or one street block, and includes multiple car access point.
The centre covers 12,245 square metres and there is a central carpark with 333 spaces.
Tenants include Aldi Foods, Dan Murphys, Dick Smith, Jetts Fitness, Cash Converters and the Department of Human Services.
This brings Sentinel Property Group’s total portfolio to 24 retail, office and industrial assets, and to a combined $500 million in value.
Sentinel’s Warren Ebert says that the centre is prominent in position, has a strong tenancy profile, and includes future development potential.
“The retail centre is well established in the local community and features a strong lease profile with 72.4% of income provided by national tenants,” he said.
“The property comprises an expansive entire street block within Tuggeranong Town Centre with potential mixed-use redevelopment potential, including residential apartment development.”
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Homeworld Tuggeranong bought for $31 million as Sentinel expands

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VCAT has been asked to clarify whether a landlord or tenant should pay the costs of complying with the Essential Safety Measures in commercial premises.
The below matters have been referred to VCAT for clarity:
<ul>
<li>The responsibilities of a landlord or tenant under a commercial lease concerning compliance with essential safety measures requirements under the Building Act 1993 and Building Regulations 2006;</li>
<li>Who should pay for the costs of essential safety measures compliance under the Building Act 1993; and</li>
<li>Who should pay for the costs of repairs and maintenance obligations under the Retail Leases Act 2003.</li>
</ul>
The clarification has been sought by the Victorian Small Business Commissioner Geoffrey Martin Browne.
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VCAT asked for commercial property safety measures clarification

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Adelaide United have secured a sponsorship deal with the Adelaide-based Chinese property developer Datong. 
It's a two-year sleeve sponsorship of the A-League side.
The Reds will boost their Asian profile by playing games in China, Adelaide United’s chairman, Greg Griffin, said.
“We are delighted to be the first Australian football club in a major national sporting competition to secure a major Chinese company as a significant sponsor," he said.
Datong is a major developer in China building prestigious apartments and commercial buildings exclusively in Adelaide.
Datong is chaired by Jin Liang.
From Chinese foundations in 1988, it has had a presence in Adelaide since the early 2000s, with apartment developments currently underway in both Flinders and Gouger streets with another project earmarked for Waymouth Street.
‘Da’ means large or leading, while ‘tong’ is a metaphor for a smoothened road.
Image courtesy of Football Australia. 
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