Perth’s new apartment market recorded its strongest quarter of sales since Q4 2021, with 412 apartments sold in Q1 2026 and a record quarterly sold value of $537 million, according to Urbis’ latest Apartment Essentials results.

Urbis said the March quarter result reflects strong, highly product‑specific demand across both ends of the market, from more attainable projects delivering at scale, through to premium stock being absorbed by equity‑rich downsizers.&nbsp;

David Cresp, Partner at Urbis, said the key story in Perth is not demand, it is the market’s ability to convert demand into delivered housing.&nbsp;

“This is the strongest sales quarter since Q4 2021, and it reinforces that demand in Perth is real and it’s local,” David Cresp said. “But the task now is delivery, turning that demand into projects that can actually be built and completed.”&nbsp;

[smartcode_project:default project_id=110291 project_image_fid=302785]

<h2>Affordable product leads, premium demand remains resilient</h2>

Sales in Q1 were led by more affordable projects, with The Boulevard (SKS Group) recording 115 sales in the quarter, the presentation noting this is only the second time a single project has surpassed 100 quarterly sales. The project was able to offer more affordable housing product right next to a train station.&nbsp;

Palmyra West (Finbar) also delivered strong results with 28 sales in Q1, following 84 sales in Q4, with an average price of under $800,000, underscoring depth of demand for well‑located, attainable new stock.&nbsp;

At the premium end, Urbis said downsizer demand is continuing, with the results highlighting Romeo (Applecross, Finbar) recording 75 sales and reaching almost 50% sold in one quarter.

Jual (Shenton Park, Celsius Property) also posted a strong quarter with 28 sales, reaching 39% sold in one quarter.

Urbis noted that Perth apartment demand is not speculative, not investor‑led, and not uniform, describing it as localised, often equity‑driven and highly product‑specific, a pattern reflected in the polarisation between strong “attainable” performers and premium downsizer product.&nbsp;

[smartcode_project:default project_id=148957 project_image_fid=364102]

<h2>Prices underpinned by costs, and the delivery risk is growing</h2>

Urbis said pricing pressure is cost not demand‑driven: construction costs and delivery risk are now a central constraint, with the results noting build costs remain elevated and volatile, and that energy, fuel and labour uncertainty weigh on feasibility.

David Cresp said a growing challenge for private Build‑to‑Sell developers is simply securing a builder in the current environment.

“Developers are really feeling the pressure from a building market that was operating at capacity and securing a builder is challenging,” David Cresp said, adding that even where a builder can be secured, “trying to get to the price that makes the development financially viable is incredibly challenging in the current market.”&nbsp;

Urbis’ broader WA commentary also notes that industry remains at or above capacity with lot and housing creation, and that many builders are limiting new sales to manage stretched workforces and fixed‑price contract pressures, conditions that flow directly into apartment feasibility and delivery timing.

[smartcode_project:default project_id=108869 project_image_fid=317905]

<h2>Supply: improving later, but still constrained, and Perth lags eastern benchmarks</h2>

While near‑term supply remains constrained, Urbis’ forecast shows completions lifting “Supply is forecast to be back above 1,500 apartments per annum for the first time since 2019”, with 1,775 completions forecast for 2026, and volumes remaining above that level over the following years.&nbsp;

Looking further ahead, completions are forecast to reach 2,500 in 2028, with the report noting 32% of that total is social/affordable, reflecting the role of government‑supported delivery in rebuilding the pipeline.&nbsp;

However, Urbis said Perth remains behind comparable markets on pipeline scale. In a national comparison of projects under construction, the report shows under construction Perth Build‑to‑Sell (BTS) at 3,446 apartments versus the Gold Coast at 7,922. Mr Cresp said “The challenge for Perth is how to we grow the delivery pipeline”.

Urbis’ conclusion is that Perth’s market is increasingly defined by product discipline and delivery certainty, with the research identifying “delivery certainty is key” and calling out builder risk and procurement models as core success factors, alongside “timing and staging”.&nbsp;

Joel Robinson

Perth apartment sales hit strongest pace since late 2021 as builder capacity tightens

<a href="https://www.apartments.com.au/developers/sammut-developments">Sammut Group</a> has secured development approval for its latest Brisbane apartment project, marking the Sydney developer’s next step in expanding its Queensland pipeline following the success of its debut Gold Coast development, Coast.

The approved project at <a href="https://www.apartments.com.au/new-apartments/44-glen-road-toowong-qld-4066">44 Glen Road, </a><a href="https://www.apartments.com.au/developments/toowong-qld-4066">Toowong</a> will deliver a 15-storey riverfront apartment building with 42 residences, significantly increasing the scale of the site’s previous approval for a smaller luxury scheme. Designed by Bureau^proberts, the development will comprise a mix of predominantly four-bedroom and two-bedroom apartments positioned to maximise Brisbane River and city views.

Sammut Director Julian Sammut said the group had been actively searching Brisbane for several years before identifying Toowong as the right fit.

“Brisbane was the right step for Sammut,” Sammut said.

“With the success of Coast we thought we should definitely look to do more in Queensland alone. We then pushed up to look at Brisbane. We've been looking for I'd say two to three years actually and it was hard to find the right location.”

<img alt="Sammut makes Brisbane apartment play" data-entity-type="" data-entity-uuid="" src="https://res.cloudinary.com/dz9xllyip/image/fetch/f_auto,c_limit,w_1440,q_75/https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/field/image/Screenshot%202025-12-23%20at%203.27.14%E2%80%AFPM.png?VersionId=dYAVIL7qdcGA8ojvkslSrLjczXFejSSx" />

Sammut said suburbs including New Farm and Teneriffe were considered before the group ultimately focused on Toowong due to its strong downsizer demographic and limited supply of developable riverfront land.

The site was acquired off-market after what Sammut described as a lengthy negotiation and planning process, with the developer pursuing an uplift to the original approval.

“We are DA approved now which is very exciting,” Sammut said.

“We've had our change approval come through and we've obviously doubled the height, 15 storeys plus rooftop. We've got 42 amazing apartments that are going to be coming to market soon.”

<img alt="Sammut makes Brisbane apartment play" data-entity-type="" data-entity-uuid="" src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,dpr_2.0,q_auto:good/https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202025-12-23%20at%203.27.26%E2%80%AFPM.png?VersionId=ohkRkY0dIZlqdfME2EZePsCQavRiBadE" />

Bureau^proberts said the design responds to Toowong’s evolving urban character, balancing contemporary apartment living with the area’s established residential identity.

“A place where traditional Queensland living has taken place for centuries; Toowong is seeing a shift of contemporary influence, commercial and retail hubs mixed with well-considered residential offerings – all the while maintaining its character and charm,” the architect noted in planning documents submitted to Brisbane City Council.

The architecture practice said the project’s form was shaped by its riverfront setting, flood considerations, neighbouring building scales, and view corridors.

“They said the mix of four and two-bedroom apartments capture the ‘fundamental qualities of Queenslander living,’ translated into the context of a contemporary subtropical building.”

The development sits just off Coronation Drive within walking distance of Toowong’s retail precinct and the upgraded Regatta ferry terminal, while also benefiting from proximity to the incoming green bridge connection to West End. Sammut said the accessibility and amenity offering were central to the site’s appeal.

The approval adds to growing residential activity along the Toowong riverfront, joining nearby projects including Consolidated Properties’ Monarch Residences and Spyre Group’s ARC Residences.

Sammut secures approval for debut Brisbane apartment development in Toowong

Developer Lanevick is heading back into Sydney’s apartment market after focusing more heavily on the luxury townhouse and terrace sector in recent years.

Lanevick, founded and directed by Steve Maroun, is expecting to receive approval in the coming months for a new apartment development in Gladesville, with the aim to launch it to the market later this year.

The 51-apartment project, designed by Studio Johnston, will comprise a mix of one-, two-, and three-bedroom apartments positioned toward the Hunters Hill downsizer market.

“Traditionally it’s been difficult for people in that market to downsize because there just hasn’t been the right product available,” Maroun said.

“We’re targeting buyers who might have 30 to 40 per cent of their house value sitting in the bank after downsizing.

“They still want good spacious entertaining areas, they still want quality design, but they also want flexibility and the ability to enjoy life a bit more after working hard for a long time.”

The project sits near Boronia Park and within close proximity to the Parramatta River foreshore, an area Maroun says offers more of a Hunters Hill lifestyle than a traditional apartment precinct.

“From a lifestyle perspective, it’s really more Hunters Hill than Gladesville,” Maroun said. “You’re close to the foreshore, close to parklands, and still connected back into the village precinct.”

From level four and above, apartments will capture water views&nbsp;toward Sydney Harbour. Communal amenity will include rooftop entertaining areas, wellness spaces, and a gym tailored toward owner-occupier buyers.

“We’ve really designed these apartments around that buyer coming from the Hunters Hill LGA and what they’re actually looking for in their next chapter.”

The proposed development has also been designed to respond to the changing character of the broader Gladesville town centre, where a growing number of mixed-use and residential proposals are expected to emerge over the coming years.

“Gladesville presented a rare opportunity to deliver a genuinely design-led residential project within an evolving lifestyle precinct, just moments from the growing Gladesville town centre, and we’ve approached the project with a strong focus on architecture, liveability and long-term community value,” Maroun said.

Maroun said Lanevick saw a first-mover advantage within the precinct as planning controls continue to evolve to accommodate greater housing density.

“We think there’s a real opportunity there that hasn’t really been serviced properly yet,” he said.

“There’s going to be a broader evolution of the whole Gladesville village precinct over time, particularly with more activation and mixed-use outcomes.”

The Venus Street proposal will include a commercial and retail component at ground level designed to contribute to that evolving streetscape activation.

“A big part of the thinking was how do you activate that area properly and create more vibrancy and amenity, which is what Hunters Hill has been looking for,” Maroun said.

Lanevick’s focus since 2020 has largely been on smaller-scale luxury townhouse and terrace developments. The developer recently completed Royale Randwick, also designed by Studio Johnston, where prices reached $3.65 million. The project was featured in the UDIA NSW 2026 Professional Development Prospectus and was also named a finalist for Development of the Year.

&nbsp;

Lanevick to cater for Hunters Hill downsizers with new Gladesville apartment development

Property developer One Living, backed by former Macquarie banker turned investment manager Chris Green’s investment firm, has unveiled plans to bring more institutional capital into housing to help address the national supply crisis.

The New York-based investor has focused his firm, GreenPoint Partners, on addressing the supply shortage hitting middle market housing in Australia.

It is backing the new One Living business to develop more than 1000 units along the eastern seaboard. The new firm is starting with a development on Mona Vale Road, on the border of Mona Vale and Pymble, in Sydney’s Northern Beaches, with around 140 apartments planned. They are eyeing off more sites across the city.

With cost pressures rising in the industry, One Living’s model is to be a vertically integrated developer-builder, so it can respond directly to the housing gap by removing the cost inefficiencies embedded in traditional residential delivery.

“We are building a platform designed to operate at scale and starting in a market where there’s a clear need for quality, attainable housing,” One Living joint managing director Joseph Scuderi said.

“It’s that missing middle – it’s that attainable end of housing… that’s what most Australians invest into and what Australians can actually afford.”

<img alt="Mona Vale" data-entity-type="file" data-entity-uuid="798dfa93-4941-4db6-a696-31e9dc18e81c" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-05-28%20at%202.31.50%E2%80%AFPM.png?VersionId=mKBqi5C_DmeiXS.AtJkcR8LQIxqCqmFi" />

GreenPoint Partners brings years of experience assembling and scaling real estate operating businesses across major markets. And Green sees a big opportunity in Australia.

“For its size, sophistication and importance to the community, Australia’s living sector has remained largely under-institutionalised, which represents significant opportunity,” Green said. “GreenPoint identified that gap, assembled the right team, and is backing One Living to build a platform that is aligned to market needs.”

Green said being a builder-developer would give the company the capacity and flexibility it required to deliver reasonably-priced homes.

“We want it to be at that attainable level; not super high end luxury but at that attainable level,” he said.

<img alt="Mona Vale" data-entity-type="file" data-entity-uuid="74a5344a-4b26-4d4a-ada3-056b1220be77" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-05-28%20at%202.32.15%E2%80%AFPM.png?VersionId=vY8hXHO4reBMdO8ZXMWCNtGZJofUPQ3j" />

&nbsp;

One Living will undertake a component of affordable housing in its schemes, which it will own and operate, and it could also run build-to-rent on some sites.

Green praised local policy settings.

“The NSW government is being very supportive, strategic and pragmatic in terms of how do we generate more supply of housing,” he said. “We think it’s actually positive for development and the bit that’s been lacking at that attainable level is that it’s lots of relatively small private developers, whereas we want to create an institutional platform.”

One Living is also&nbsp;looking at high-density projects and could take on more institutional funding in the future.

“The way we will be able to achieve economies of scale is through size,” Green added.

One Living enters Sydney's new apartment market with Northern Beaches site acquisition

It's been several years since there's been an opportunity to buy a brand new townhome in Melbourne's coastal suburb of Mordialloc. Even apartment developments in recent times have been few and far between in the area.

Local developer LDS Property identified the gap in new housing, securing a site on White Street, directly opposite&nbsp;Woodlands Golf Club Mordialloc. They've recently launched&nbsp;<a href="https://www.apartments.com.au/new-townhouses/wm-residences-mordialloc-102-white-street-mordialloc-vic-3195">WM Residences</a>, just 13 townhouses which they have already started building.

Projects by Buxton Director Heath Thompson, who is selling WM Residences, says the townhouses x that perfect middle ground be

"Mordialloc residents have had limited options to downsize within the suburb, often forcing them to look elsewhere despite long-standing ties to the area," Thompson says.

"With very little comparable new supply coming to market, projects like WM Residences are well placed, particularly as buyers look to capitalise on current conditions amid constrained supply."

[smartcode_project:default project_id=134646 project_image_fid=6109]

The development, designed by regarded architecture firm&nbsp;<a href="https://www.apartments.com.au/architects/ewert-leaf">Ewert Leaf</a>,&nbsp;adopts a deliberately restrained architectural approach, focusing on simplicity, durability and liveability rather than overt design gestures.

The boutique scale is central to the offering. With only 13 three-bedroom residences, each home is configured to prioritise functional layouts and everyday use, supported by private terraces and secure two-car garages.

Ewert Leaf’s design response leans into a calm, neutral material palette. Interiors are defined by oak flooring, white walls and soft finishes, creating a consistent and understated backdrop. The approach avoids trend-driven detailing in favour of longevity, with an emphasis on natural light and spatial clarity.

[smartcode_project:default project_id=134646 project_image_fid=6110]

Beyond aesthetics, the homes are designed to meet contemporary performance expectations. Each residence targets a minimum 6-star energy rating, incorporating double glazing, comprehensive insulation and all-electric Bosch appliances.

The project’s location supports a walkable coastal lifestyle, sitting within close proximity to Mordialloc’s foreshore, Main Street retail strip and the train station. Local cafés and dining venues, including Suburbia Deli and Hendriks Café, are within a short walk, reinforcing the area’s established neighbourhood character.

[smartcode_project:default project_id=134646 project_image_fid=6116]

While <a href="https://www.apartments.com.au/developments/mordialloc-vic-3195">Mordialloc</a> is often defined by its beach and pier, the project taps into other areas of day to day living, offering easy access to local food, casual dining and transport, rather than positioning itself purely as a lifestyle retreat.

WM Residences reflects a continued trend across Melbourne’s coastal suburbs towards smaller-scale, design-led townhouse developments, particularly on infill sites where proximity to amenity is already established.

With construction commenced prior to its market entry, the project aligns with a growing preference among buyers for developments with visible progress and defined delivery timeframes.

[smartcode_project_cta:default project_id=134646]

WM Residences fills gap in Mordialloc townhouse market

Investa

<html><body>
Investa’s Barrack Place, a future-proofed office designed to maximise occupant health and wellbeing, has taken home New South Wales’ top property award. 
Investa and Oxford Properties were presented with the Rider Levett Bucknall NSW Development of the Year award.
Located at 151 Clarence Street, and strategically placed between Martin Place and Sydney’s Western Corridor, Investa’s Barrack Place is an A-grade commercial office tower completed in 2018.
“Investa has transformed an uninspiring 1960s concrete tower into an exceptional office building that embodies the future of work – innovative, collaborative and connected,” says the Property Council’s Acting NSW Executive Director, Belinda Ngo.
Designed by Architectus, the 23-storey building combines modern design with a heritage feel. 
Featuring a contemporary glass tower atop a masonry podium façade, its fine grain ground-floor network of laneways creates an active thoroughfare between Clarence and Kent streets. 
With abundant natural light and views across the city, Investa’s Barrack Place boasts a 6 Star Green Star rating for completed construction. 
It also features Australia’s first WELL Core-and-Shell Gold pre-certification, recognising a building design that contributes to occupant health and wellbeing. 
“Investa’s Barrack Place incorporates forward-thinking wellness attributes that are increasingly demanded by global corporates to attract and retain top talent,” says RLB’s Managing Director, Matthew Harris.
“Among the impressive initiatives are Australia’s first operational smart building digital twin, Bluetooth smart-phone entry, exceptional end-of-trip facilities, advanced air filtration and multiple green spaces.”
The RLB NSW Development of the Year award is part of the 2020 Property Council of Australia / Rider Levett Bucknall Innovation and Excellence Awards program. RLB has partnered with the Property Council to present the awards program since its inception in 1982.
Eligible projects were judged on strict criteria, had to be complete in the previous five years, and operating for at least one year as at 31 December 2019. 
Investa’s Barrack Place is now competing in two categories – for the Colliers International Award for best office development and best sustainable development for a new building – at the national awards, which will be held in virtually on Thursday 22 October. 
</body></html>

j.ballantyne1990-6AQqhLzZaK

Investa’s Barrack Place takes out NSW’s top property prize

<html><body>
Investa, a commercial real estate management and development service provider, announced the release of its new ‘insite’ tenant experience app at Sixty Martin Place, Sydney. 
The single system interfacing app integrates building services, operations, amenities and content.
The building, which curves over the top of the historic interwar-era St Stephens Church, was built in conjunction with a <a href="/expert-insights/investing/1-billion-curved-skyscraper-completed-in-martin-place">'digital twin'</a> that allows for such data to be sourced.
The app enables users to access the building, call the destination-controlled lifts, book lockers and access the car park from their smart device. 
“Our objective in developing the insite app is to deliver a better, more integrated occupant experience, tailored to the unique needs of Investa and our owners,” said Sally Franklin, Group Executive, Real Estate Services &amp; Business Operations. 
“Investa has collaborated with Willow on several market leading digital innovations in recent years, including the early implementation of Building Information Modelling (BIM), to launching Australia’s first digital twin in an operating building at Investa’s 567 Collins Street in Melbourne."
</body></html>

wdavis-8cCN98p7xp

Investa announce 'insite' app for 60 Martin Place tenants

<html><body>
Australian Unity's trio of major projects across Sydney and Melbourne have all reached interesting junctures of late.

After the Sydney Central City Planning Panel granted Australian Unity the right to develop a new office complex on Parramatta's Valentine Avenue, the project has re-entered planning with City of Parramatta in the last week, sporting a number of design enhancements.

Architect in charge Fitzpatrick + Partners' latest design iteration sees a modest overall height increase, additional vehicle and motorbike parking, an additional lift, revised floor to ceiling heights, revised internal layout over certain levels and an enhanced facade over the tower's podium.

<figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public//pictures/article-images/image19_20.jpg" rel="gallery-all" title="Fitzpatrick + Partners' latest version of Australian unity Parramatta"><img alt="" class="image-article-full-width-580px" height="258" src="/sites/urban.melbourne/files//styles/article_full_width_580px/public/pictures/article-images/image19_20.jpg?itok=gBQXo7Ct" title="Fitzpatrick + Partners' latest version of Australian unity Parramatta" width="580"></a>

<figcaption>Fitzpatrick + Partners' latest version of Australian unity Parramatta</figcaption></figure>The existing 5 level par park across 10 Valentine Avenue will be amalgamated into the development, with a revised car park 'veil' facade part of the updated planning set. 

Australian Unity's Valentine Avenue tenancy amounts to 8,515 square metres of Net Leasable Area.

Meanwhile, work has progressed rapidly on Australian Unity's new headquarters at 271 Spring Street at the top end of Melbourne's CBD. ISPT is developing the new $110 million office tower; the A Grade building will include 15,612 square metres upon completion, allowing Australian unity to expand their workforce.

The purpose-built tower is the work of John Wardle Architects with head contractor Probuild currently advancing the floorplates beyond the inverted podium, with the first facade panes now in place. "This project is aimed at delivering a building and head office solution that both resonates with the 175 year history of Australian Unity while providing a contemporary and productive environment for its planned CBD operations."

Australian Unity has taken a 15-year lease term over the entirety of 271 Spring Street which is due for completion in mid-2019.

<figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public//pictures/article-images/image15_14.jpg" rel="gallery-all" title="271 Spring Street; render and construction progress"><img alt="" class="image-article-full-width-580px" height="306" src="/sites/urban.melbourne/files//styles/article_full_width_580px/public/pictures/article-images/image15_14.jpg?itok=J_ygitn1" title="271 Spring Street; render and construction progress" width="580"></a>

<figcaption>271 Spring Street; render and construction progress</figcaption></figure>In South Melbourne, Australian Unity's Albert Road development is coming together, with a new tower at 126-130 Albert Road approaching structural completion at the hand of builder Watpac.

The retirement living tower spans 18 levels and includes 79 purpose designed apartments and communal facilities. Upon the completion of Australian Unity's new headquarters on Spring Street, their existing head office at 114 Albert Road, and adjoining 126-130 Albert Road, will be converted to accommodate further retirement living apartments.

The above and other projects have been financed by Australian Unity's multiple capital raising campaigns that have successfully funded a variety of projects in recent years.
</body></html>

silvermb

Australian Unity's Sydney and Melbourne projects in focus

<html><body>
Brisbane City Council has executed a quick turnaround on a major planning application in order to provide one of Brisbane's largest commercial office developments with the green light.

Project partners Investa and Charter Hall submitted the sizeable planning application earlier this year. Council has in turn granted the hulking 205 metre commercial office tower with approval a little over a week ago, subject to a raft of minor conditions.

Simply known as 360 Queen Street, the development will account for a quartet of low and medium-rise dated commercial buildings in the heart of Brisbane's CBD. In a relatively swift process, Investa and Charter Hall only secured all buildings across the 2,147 square metre site during June 2017 for $53.75 million.

<figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public//pictures/article-images/image61_2.jpg" rel="gallery-all" title="Hero perspective. Image: 360queen.com.au"><img alt="" class="image-article-full-width-580px" height="835" src="/sites/urban.melbourne/files//styles/article_full_width_580px/public/pictures/article-images/image61_2.jpg?itok=9jw97liB" title="Hero perspective. Image: 360queen.com.au" width="580"></a>

<figcaption>Hero perspective. Image: 360queen.com.au</figcaption></figure>360-380 Queen Street is located in Brisbane's ‘Golden Triangle’ which home to a high concentration of financial institutions. Valued at $650 million, the co-owners task of securing a major tenant for the tower which includes 50,000 square metres of A-Grade office space will be bolstered by the recent approval.

The Blight Rayner-designed project includes a new public pedestrian thoroughfare which will link Queen Street to Giffin Lane and Ely Lane, and was to have been lined by retail tenancies. Final plans for the development have dropped the retail aspect in favour for food and retail, or hotel uses.

Additionally, an amphitheatre, underground supermarket, childcare centre, business lounge and various other entertainment/dining options will assist in drawing the public to the area.

A vertical green wall will mask the adjoining property boundary, whilst a 'suspended' green zone will feature mid podium. Thereafter three separate green spaces will break the tower's form at levels 13, 28 and 40, in addition to a vertical chasm that will add extra greenery externally. 

360 Queen Street will target a 5 Star Green Star Design rating, 5 Star NABERS Energy rating, plus WELL Core and Shell Gold certification.

<figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public//pictures/article-images/image63_7.jpg" rel="gallery-all" title="External terrace. Image: 360queen.com.au"><img alt="" class="image-article-full-width-580px" height="387" src="/sites/urban.melbourne/files//styles/article_full_width_580px/public/pictures/article-images/image63_7.jpg?itok=GTXGda8b" title="External terrace. Image: 360queen.com.au" width="580"></a>

<figcaption>External terrace. Image: 360queen.com.au</figcaption></figure>Leasing for the development is now active with CBRE appointed as the agent of choice. 360 Queen Street will enter the Brisbane commercial office market at an interesting juncture.

A Knight Frank report on the state of the Brisbane CBD office market dated April 2018 notes that total commercial vacancy is expected to fall from 16.2% at the start of 2018 to approximately 13.5% by the end of the year. Knight Frank assert that the Brisbane CBD office market will see little new stock over the course of 2018, although a number of major projects are in the pipeline.

The report identifies 12 separate commercial office developments slated for Brisbane's CBD that combined would add 300,000 plus square metres over and above existing stock. 360 Queen Street alongside Mirvac's 80 Ann Street and ISPT's The Regent development constitute the largest office developments in Brisbane CBD's pipeline.

According to the development partnership, construction is expected to commence in the first half of 2019, although overall approval and tenant pre-commitments are first required.

<figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public//pictures/article-images/image60_3.jpg" rel="gallery-all" title="Aerial perspective of the approved commercial tower. Image: 360queen.com.au"><img alt="" class="image-article-full-width-580px" height="412" src="/sites/urban.melbourne/files//styles/article_full_width_580px/public/pictures/article-images/image60_3.jpg?itok=xQZSzxBM" title="Aerial perspective of the approved commercial tower. Image: 360queen.com.au" width="580"></a>

<figcaption>Aerial perspective of the approved commercial tower. Image: 360queen.com.au</figcaption></figure>
</body></html>

Brisbane's 205m Queen Street commercial development gains approval

<html><body>
In seeking to develop the future workplace for its staff, Investa, Australia's largest office manager, engaged project management company Montlaur to manage the delivery of its new head office in Sydney based on a design prepared by HASSELL.

Located at 420 George Street, the subsequent transformation, completed in January 2018, has seen Investa consolidate its workforce onto a single level and shift to an agile workplace.

This has provided the staff with greater flexibility and variety in their working environment, as they are encouraged to move around the office and work where they are most productive. Instead of having just one desk, the team are provided with a variety of desks and workstations in addition to collaborative areas, or quiet zones for individual work.

<figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public//pictures/article-images/p1120120_1.jpg" rel="gallery-all" title="Investa's staff are encouraged to work where they are most flexible. Image: Supplied"><img alt="" class="image-article-full-width-580px" height="435" src="/sites/urban.melbourne/files//styles/article_full_width_580px/public/pictures/article-images/p1120120_1.jpg?itok=Wv2VwpGr" title="Investa's staff are encouraged to work where they are most flexible. Image: Supplied" width="580"></a>

<figcaption>Investa's staff are encouraged to work where they are most productive. Image: Supplied</figcaption></figure><blockquote>
Over the last five to 10 years, we have seen huge changes in the contemporary workforce. The best organisations view their workplaces as strategic assets to help them compete. Investa recognised early on in the relocation process the opportunity to change the way its workplace was designed, to better align with its culture and support the way its people wanted to work and collaborate.

Before any architect can start designing, we really need to work out what the strategy is around the physical space, the technology and how people work. 

It’s important in this stage of the consultation that we aren’t steering anyone in a particular direction. Our job is to get to know the business and its people and present options soundly based on what they are trying to achieve as an organisation.

- Stuart Munro, Montlaur Change Director 
</blockquote>

Investa's workforce is mobile and technologically connected, spending considerable time out of the office, working between the company’s commercial properties and offices in Sydney, Melbourne and Brisbane.

The company's previous premises didn’t reflect this type of work environment, instead, it provided a traditional desk-and-cubicles layout, inefficiently spread across two levels with the work being performed by teams who were isolated.

HASSELL and a technology consultant, POMT were engaged to design a workplace that reflected best-practice office design and would ensure Investa's staff remained motivated and productive.

The team conducted focus groups, interviews with leadership, an all-staff survey to analyse how the current workplace was performing and a utilisation study to assess how the workspace was being used. The results highlighted numerous opportunities.

The assessment presented the possibilities for activity-based working (ABW) and explored a hybrid option, combining two different styles. Montlaur was then engaged to develop a workplace strategy with Investa that would align its work environment with its business strategy and vision for the future, with a complete transformation roadmap created. 

<figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public//pictures/article-images/p1120131.jpg" rel="gallery-all" title="One of the many different areas of Investa's new workplace. Image: Supplied"><img alt="" class="image-article-full-width-580px" height="435" src="/sites/urban.melbourne/files//styles/article_full_width_580px/public/pictures/article-images/p1120131.jpg?itok=MWXq4GS8" title="One of the many different areas of Investa's new workplace. Image: Supplied" width="580"></a>

<figcaption>One of the many different areas of Investa's new workplace. Image: Supplied</figcaption></figure>According to Investa, the choice to move to agile working was fundamentally about providing everyone in the team more choice about how they approach their work environment and how it assists them in completing their daily tasks.

As part of the consultation process Montlaur also created a team of ‘change champions’ drawn from all levels of the company, who they collaborated with to create a series of videos and events to help the wider workforce understand why the business had chosen to work in a new way. 

These also highlighted the benefits provided by the central city location adjacent to Pitt Street Mall in the CBD and its proximity to retail, fitness and dining opportunities.

A launch event brought everyone together to learn about the new workplace and highlight how it would better meet the needs of staff, enabling a strong, positive culture to thrive.

<blockquote>
Montlaur were an integral part of our workplace transformation project from both a change management and project management perspective. They ensured our people were fully engaged with on the project and ready to transition to the new way of working. We were very pleased to have them on board.

- Sally Franklin, Group Executive, Real Estate Services and Business Operations, Investa
</blockquote>

For Investa, the entire relocation process was made easier by the fact that Montlaur is one of the few companies to offer change management and project management services under the one umbrella.

<figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public//pictures/article-images/p1120252.jpg" rel="gallery-all" title="Investa's new workplace designed by Hassell and managed by Montlaur. Image: Supplied"><img alt="" class="image-article-full-width-580px" height="435" src="/sites/urban.melbourne/files//styles/article_full_width_580px/public/pictures/article-images/p1120252.jpg?itok=JLBDE0cs" title="Investa's new workplace designed by Hassell and managed by Montlaur. Image: Supplied" width="580"></a>

<figcaption>Investa's new workplace designed by HASSELL and managed by Montlaur. Image: Supplied</figcaption></figure>
</body></html>

Laurence Dragomir

Investa's new Sydney office highlights the value of workplace design

<html><body>
A property play between Charter Hall and Investa that began mid last year with the intentions of delivering a major office tower to Brisbane's CBD reached a milestone last week.

The development partnership announced that the planning approvals process for a Blight Rayner-designed commercial tower at 360-380 Queen Street has begun. During June 2017 the duo outlaid $53.75 million for three adjoining office buildings across a 2,147 square metre site for the purposes of a commercial office development.

The result is a 41 storey skyscraper that will reach 205 metres above ground, potentially becoming one of Brisbane's tallest towers.

360-380 Queen Street is located in Brisbane's ‘Golden Triangle’ which home to a high concentration of financial institutions. Valued at $650 million, the co-owners hope to add further to the precinct with 50,000 square metres of A-Grade office space slated for the development.

<figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/image122_2.jpg" rel="gallery-all" title="Hero perspective. Planning image: Blight Rayner"><img alt="" class="image-article-full-width-580px" height="873" src="/sites/urban.melbourne/files/styles/article_full_width_580px/public/pictures/article-images/image122_2.jpg?itok=MYzJGV6K" title="Hero perspective. Planning image: Blight Rayner" width="580"></a>

<figcaption>Hero perspective. Planning image: Blight Rayner</figcaption></figure>The intended development will see a reworked ground plane, resulting in a highly permeable and accessible structure.

A new public pedestrian thoroughfare will link Queen Street to Giffin Lane and Ely Lane, and is set to be lined by retail tenancies. Additionally, an amphitheatre, supermarket, childcare centre, outdoor cinema and various other entertainment/dining options will assist in drawing the public to the area.

A vertical green wall will mask the adjoining property boundary, whilst a 'suspended' green zone will feature mid podium. Thereafter three separate green spaces will break the tower's form at levels 13, 28 and 40, in addition to a vertical chasm that will add extra greenery externally. 

All in all the tower is aiming to achieve a 5 Star Green Star Design rating, 5 Star NABERS Energy rating, plus WELL Core and Shell Gold certification.

<figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/image124.jpg" rel="gallery-all" title="Central viod doubles as a design feature. Planning image: Blight Rayner"><img alt="" class="image-article-full-width-580px" height="334" src="/sites/urban.melbourne/files/styles/article_full_width_580px/public/pictures/article-images/image124.jpg?itok=DbffAxrG" title="Central viod doubles as a design feature. Planning image: Blight Rayner" width="580"></a>

<figcaption>Central viod doubles as a design feature. Planning image: Blight Rayner</figcaption></figure><h2>What they say</h2>

<blockquote>
CPOF Fund Manager, Matthew Brown said: “This is a very exciting investment opportunity for both Charter Hall and Investa.

The joint venture development and ownership structure with ICPF diversifies risk with a credible institutional counter party and provides certainty of delivery.

Our combined office experience and expertise, will see us create a new generation, high quality building designed to support tenant customers’ requirements for collaborative workplaces, higher density and flexible occupancy along with the latest technology.
<cite>Matthew Brown: CPOF Fund Manager</cite>
</blockquote>

<blockquote>
The 370 Queen Street development strongly supports ICPF’s ‘build to core’ strategy and reflects our commitment to investing in high quality, new office developments that deliver diversification for ICPF’s office portfolio.

A commitment of this scale also reflects our confidence in the underlying strength of the Brisbane CBD office market and we’re very pleased to reach this important DA milestone.
<cite>Jason Leong: ICPF Fund Manager</cite>
</blockquote>

<blockquote>
Our in-house development team will deliver an office building of a standard not yet offered in the Brisbane market.

Targeting the highest level of sustainable design and building performance, it will provide extensive recreational and landscaped areas at podium level and throughout the tower, with higher density and technology enabled workplaces providing greater connectivity and flexibility for the future tenants of this progressive, new workplace community.
<cite>Andrew Borger: Charter Hall’s Head of Office Development</cite>
</blockquote>

<figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/image123_0.jpg" rel="gallery-all" title="Ground floor activation. Planning image: Blight Rayner"><img alt="" class="image-article-full-width-580px" height="311" src="/sites/urban.melbourne/files/styles/article_full_width_580px/public/pictures/article-images/image123_0.jpg?itok=XicQuVxt" title="Ground floor activation. Planning image: Blight Rayner" width="580"></a>

<figcaption>Ground floor activation. Planning image: Blight Rayner</figcaption></figure>According to the development partnership, construction is expected to commence in the first half of 2019, although overall approval and tenant pre-commitments are first required.
</body></html>

Investa and Charter Hall eye Brisbane's Queen Street for a new commercial skyscraper

<html><body>
Cromwell Property Group (ASX:CMW) has entered into an agreement to sell its entire stake in Investa Office Fund (ASX:IOF) for $4.65 per unit, effectively abandoning its $3 billion plan to buy the fund.
The agreed sale price was a premium to the IOF closing price of $4.50 on October 3, Cromwell said in an ASX announcement.
Cromwell Property Securities Limited as responsible entity for the Cromwell Diversified Property Trust purchased its 9.83% stake in IOF for $4.24 per unit on 12 April 2016. The stake sale also represents an annualised equity internal rate of return of 18%, it said.
Investa Property Group (Investa) approached Weightman late Tuesday offering to buy the stake for $4.65 a share. The offer gave Cromwell, which had reached a stalemate with IOF after failing to secure additional funding to raise its bid, a way out, The Australian Financial Review added.
Since the Australian sharemarket closed on Tuesday, Cromwell sold 60.37 million shares at $4.65 to ICPF, which already holds about 10 per cent, The Australian reported.
The $276 million trade equates to about 10 per cent of the stock and was handled by UBS and Rothschild. 
Last year, Cromwell had snapped up the IOF stake, knocking off Dexus Property Group’s $2.5 billion takeover bid for Investa ­Office Fund.
“The investment in IOF has been a profitable one for Cromwell,” said Cromwell chief executive Paul Weightman.
“We would have liked to have been able to complete a deal, but as I have said previously, it became obvious to us that a friendly transaction was unlikely to proceed, regardless of the price that we offered.”
“Upon careful consideration of all of our options, we have therefore decided that the best way forward for Cromwell securityholders is to realise the value in our investment.”
“We will continue to focus on delivering value to our securityholders through the different strategic initiatives that we are currently undertaking,” added Weightman.
The proceeds of the sale will be used to reduce gearing and for other general corporate purposes, Cromwell said.
 
</body></html>

jonathanchancellor-7SQnKwU6yx

Cromwell sells stake in Investa Office Fund

<html><body>
Investa Commercial Property Fund (ICPF) recently unveiled a major foyer upgrade of its A Grade, 16-level office building at 259 Queen Street in Brisbane’s CBD at a well-attended event.
Designed by Cox Architecture, the upgraded foyer integrates the building sympathetically with the heritage façade of the adjacent General Post Office (GPO) via a glass canopy, creating a modern, light-filled entrance, said a media release. 
The foyer to the flagship building in Brisbane’s Golden Triangle now also includes direct access to a 70 seat café, a concierge and lifts.
NAB is set to relocate 650 employees to the building in August 2017. It has a 10-year lease for more than 8,000 sqm of space over two levels.
The building at 259 Queen Street comprises more than 24,780 sqm of net lettable area. It has a 5-Star NABERS Energy rating. 
Investa also plans to improve 259 Queen Street’s end-of-trip facilities for better tenant health and well-being.
The proposed new facilities will include 150 bicycle spaces, 200 lockers and upgraded change rooms. Value-add services include a towel service, bike servicing, drying room and dry cleaning.
ICPF fund manager Jason Leong said the integration with the adjacent GPO provides “vital connectivity to the retail and food outlets of the Golden Triangle and Eagle Street Pier”. 
Guests included Investa’s CEO Jonathan Callaghan, ICPF fund manager Jason Leong and other key stakeholders, including incoming anchor tenant NAB and other Federal and State Government tenants. 
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/06/19/Investa259Execs.jpg" alt="">
Among the attendees were (from left to right above) Jason Leong, ICPF Fund Manager and Group Executive, Investa, John Blackburn, Rubicon Red, Christine O’Hara, general manager, Brisbane CBD Portfolio, Investa, Travis Green, general manager, Brisbane IOF Portfolio, Investa, Jonathan Callaghan, CEO, Investa  
</body></html>

Investa unveils major foyer makeover at its Brisbane Queen Street building

<html><body>
A major construction milestone has been reached at Investa Office Fund’s new commercial office development, located at 151 Clarence Street in Sydney’s CBD.
The Barrack Place project will see a total of 40,000 cubic metres of concrete used and will generate a total of 2,000 jobs. It is being developed in collaboration with contractor Built, who are conducting the first concrete pour on the 18-level tower.
The concrete pour marks the end of a 12 month excavation process, which saw the existing B-Grade building on-site demolished. The next stages of the construction will see concrete pours for the footings, slabs and lift-cores, followed by floor by floor structures.
“Barrack Place will deliver something new to the Sydney CBD office market and will provide an important connection to Martin Place through to the Western Corridor,” remarked Mark Tait, group executive and head of commercial development, Investa.
“The open courtyard through site-link and retail precinct offering is set to create a new city destination. It will also complete at a time when the CBD market is lacking brand new quality office stock, so we expect tenant demand to continue to be strong,” he said.
Designed by Architectus, Barrack Place will deliver a 22,000 square metre workplace to the Sydney CBD. Its design places flexibility at its core, aiming to cater for open-plan offices and dynamic workspaces, which are complemented with smart building technology.
“Barrack Place has provided us with the opportunity to demonstrate the future of construction showcasing new levels of Building Information Modelling,” added Brett Mason, managing director, Built.
“We have worked closely with the project team to develop a highly detailed virtual model that goes beyond 3D modelling, to 6D modelling that links programme, cost control and facilities management modules,” he said. 
“This allows us to steer the most efficient construction process with one source of truth, removing cost, co-ordination and duplication inefficiencies. The model will also continue to inform the ongoing performance and optimisation of the building long after project completion.”
Engineering group Arup has already pre-committed to 35 per cent of Barrack Place on the podium levels from Level 1 to 6, and discussions continue with prospective tenants in the marketplace.
</body></html>

Investa commences concrete pour at 151 Clarence Street 

<html><body>
Investa Office Management (Investa) will pursue a net zero emissions target by 2040 across its $10 billion office portfolio and business operations.
It was part of its comprehensive carbon strategy launched this week.
As the first Australian property company to announce a Science Based Target, Investa aims to maintain its leadership position by tracking its performance against this globally recognised framework.
The Science Based Target initiative is a robust, globally recognised framework referencing the climate science requiring the world to limit global warming to 2 degrees above pre industrial levels.
This is in line with the 2015 Paris Agreement.
Nina James, general manager for corporate sustainability at Investa said Investa’s carbon reduction strategy charts a course to a net zero emissions profile by 2040.
"The strategy was formed via extensive collaboration with industry experts and staff and outlines Investa’s roadmap to achieving the target.”
Sighting global capital decarbonisation movements and an increasingly environmentally aware investment community, Investa has endorsed the ambitious plan to reduce emissions across the portfolio.
It references the influential Australian Sustainable Built Environment Council’s report, “Low Carbon, High Performance”, which advocates that the Australian property industry can achieve a net zero position by 2050 using current technologies.
"Having achieved a 56% reduction in emissions intensity since 2004, this Science Based Target will ensure we maintain our leadership position and set the pace for a low carbon future in office management," James said.
As part of the strategy, Investa is taking responsibility for its corporate value chain emissions (Scopes 1, 2 and 3), working towards a ‘whole-of-building-whole-of-life’ approach, that will see the progressive expansion of the net-zero target boundary in line with the Science Based Target review process.
Electricity and gas within Investa properties accounts for 99.6% of the greenhouse gas emissions across the Investa managed properties.
A net zero-carbon future will therefore address the carbon impact of Investa’s buildings in three key areas;
1. How the building is operated – Continual improvement in the operational performance of Investa’s buildings;
2. How the building is designed and constructed – With a focus on changing the building envelope to deliver further energy and emissions savings; and
3. How the building is powered – Sourcing zero-carbon options for residual power requirements.
The ‘whole-of-building-whole-of-life’ approach also includes measures relating to tenants, embodied carbon and occupant well-being within the performance management and reporting boundary, providing a holistic picture of performance.
"By pursuing these emission reduction actions, we believe we can change the conversation to include whole of building thinking, resulting in a change in the criteria by which leading performance is measured and showing the real benefits of Investa’s approach to upgrading and re- positioning existing buildings," James said.
Investa CEO Jonathan Callaghan said to continue to attract investment, Investa must position itself not only as a viable, but responsible investment option.
"A leader in this space, able to demonstrate a clear point of difference and capability in this sector."
"Sustainability leadership will help ensure we maintain access to shifting global capital flows, grow asset revenues, valuations and returns for current investors and support Investa’s overarching vision to be the clear market leader in Australian office.”
</body></html>

Investa

Editor's Picks

Have something to contribute?

Developments

New apartments

New townhouses

News

Investa

Editor's Picks

Receive the latest news stories to your inbox

Have something to contribute?

Developments

New apartments

New townhouses

News