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

Joel Robinson

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

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

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

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

Kooyongkoot wins Gold and Silver at Better Future Melbourne Design Awards

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

The apartment price gap drawing Sydney buyers west

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

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

Melbourne

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Two adjoining, strata-titled, retail properties at Port Melbourne are to be auctioned off on June 9 through Teska Carson.
Located at 350-352 Bay Street, the two single-level, self-contained shops are between Spring and Bridge streets. The site is zoned Commercial 1.
The 58 sqm, 350 Bay Street, property is suitable for a variety of uses including office accommodation and food/hospitality subject to council approval.
The property was previously owner-occupied as an art gallery.
The 352 Bay Street property is also 58 sqm and is currently leased to hair salon operator Lovalola. 
According to marketing agents, Teska Carson’s Anthony Choi and Michael Ludski, the property will be sold subject to a monthly lease over 352 Bay Street at $2,127 per calendar month plus outgoings &amp; GST, while 350 Bay Street is vacant.
Choi said recent comparable lease transactions nearby point to retail rental rates of circa $500 to $550 per sqm.
He said the entry-level acquisition opportunity offered the buyer the flexibility to be an owner-occupier or invest within the tightly held Bay Street retail precinct.
"The immediate area is experiencing continuous growth due to a number of high profile residential/mixed-use developments within close proximity, and is an excellent metric for rental and capital growth in years to come,’’ Choi said.
He said the property is in one of Melbourne’s sought after bayside locations and is well serviced by public transport.
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j.ballantyne1990-6AQqhLzZaK

Entry-level retail investment properties in Port Melbourne up for auction

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Total vacancy across Melbourne’s ten key retail strips has risen to 9.2 percent from 7 percent over the 12 months to April due to falling consumer confidence and growth of online retail, but the food sector is expected to drive a recovery, according to the<a href="https://www.savills.com.au/research/australian-research.aspx?utm_source=PropertyObserver&amp;utm_medium=DigitalAdvert&amp;utm_campaign=CPOeNewsletterBanner-Q1-Research-17May2017&amp;utm_source=Property+Observer+List&amp;utm_campaign=98dcb3a1b3-Commercial_Property_17_May_2017&amp;utm_medium=email&amp;utm_term=0_a523fbfccb-98dcb3a1b3-" target="_blank"> latest research from Savills</a>.
The research found Church Street, Brighton (pictured above) recorded the lowest vacancy of 4.1 percent, followed  by Glenferrie Road, Hawthorn with 5.3 percent (2.1 percent in 2016) and Centre Road Bentleigh not far behind at 5.5 percent (5.1 percent).
Predictably, Bridge Road, Richmond recorded a 15 percent vacancy, up from 13.6 percent. This included the withdrawal of 42 stores for residential conversion. Puckle Street and Toorak Road, in both South Yarra and Toorak, also recorded substantial vacancy rises.  
Savills associate director-Research, Monica Mondkar, said the strips had largely been impacted by falling consumer confidence and growing online sales, which had particularly impacted the fashion industry, but a surge in the number of café/food &amp; groceries stores was expected to drive a vacancy recovery. 
<a href="https://www.propertyobserver.com.au/images/2017/05/17/RetailVacancy.png" target="_blank">Click to enlarge</a>
 <img src="https://www.urban.com.au/images/2017/05/17/RetailVacancy.png" alt="">
 “These figures are hardly surprising given the well-publicised woes of smaller retailers and recent figures which point to consumers holding tighter their purse strings as they battle mortgage and rental stress,” said Mondkar.
“While food and café and restaurant sectors have seen substantial growth, it is the fashion industry, along with a decline in household goods stores, that has been the key to the rise in vacancy.
“That said, we expect vacancy to steadily recover as the number of cafes, grocery stores and services continue to grow in line with the surge in Melbourne’s inner city population, filling vacancies left by fashion and household goods stores.’’  
Australian retail trade grew just 3.14 percent in the 12 months to March, the lowest since March 2012 when it was 2.55 percent, ABS data showed. Similarly, Victorian retail trade growth in the 12 months to March (3.57 percent) was the lowest since March 2014 (3.46 percent). 
At the same time, online retailing grew by 9 percent year on year to March with Australians spending $22.23 billion on online shopping, equivalent to 7.3 percent of spending at traditional bricks-and-mortar retailers as measured by the ABS in the 12 months to February 2017. 
Viewed over the longer term – 2012 to 2017 - the research found of the 2,618 shops surveyed, the Cafes, Restaurants &amp; Takeaway Food Services category had seen the largest increase of 16 percent from 484 shops to 581 shops, and Services was up 12 percent - 545 to 609 shops. 
Clothing, Footwear &amp; Accessories saw a massive 27 percent or 213 store decrease to 568 stores. Household goods also fell a notable 24 percent.
The decline in fashion retailing is a suburban phenomenon, said Mondkar, with Savills retail data showing a 17 percent rise in the number of CBD fashion stores at the time of a 27 percent decline over suburban strips. The CBD gain could be explained by the influx of international brands over recent years especially at the new and refurbished shopping centres, Emporium and St Collins Lane.
“The figures appear absurd on face value but we have seen a massive arrival of foreign fashion houses to Melbourne’s CBD over the last three to four years and the arrival of one has attracted others like bees to a honey pot. Melbourne, Australia’s fashion capital is also a market which has been underpinned in recent years by a rise in tourism led shopping and the significant rise in the CBD population,’’ Mondkar said.
She said the reason for the fall in the number of household goods stores on suburban strips anecdotally reflected a preference for shopping at larger centres where parking and the number of stores provided accessibility, convenience and choice. 
Notable leases among the most popular fashion strips included Australian fashion designer Anna Hoffman, bridal jewellery designer Stephanie Brown and national fashion retailer Scanlan Theodore were the latest entrants, opening up new stores along High Street Armadale where Clothing, Footwear &amp; Personal Accessory retailing accounts for 32 percent of stores.
<a href="https://www.propertyobserver.com.au/images/2017/05/17/Sector.png" target="_blank">Click to enlarge</a>
<img src="https://www.urban.com.au/images/2017/05/17/Sector.png" alt="">
<a href="https://www.propertyobserver.com.au/images/2017/05/17/Sector1.png" target="_blank">Click to enlarge</a>
<img src="https://www.urban.com.au/images/2017/05/17/Sector1.png" alt="">
Church Street Brighton and Burke Road Camberwell, the two other high performing fashion strips, recorded fashion at 28 percent and 27 percent respectively, while national retailers Wittner Shoes, Gorman and Nique opened up stores on Church Street Brighton and Zeira shoes and CUE leased new shops along Burke Road Camberwell.
Low yields around 3.5 to 4.5 percent more common  
Yields and rents varied widely according to the particular attributes of the strip, Mondkar said.
“Strip retail, especially suburban strip retail has long been a favourite of the small investor and in recent years that focus has intensified with the emergence of the SMSF and of course record low interest rates,” she said.
“Yields have always been tight in these markets but those factors have seen even further downward pressure to the point where yields around 3.5 to 4.5 percent are now much more common,” Mondkar said.
“Rents can vary dramatically between precincts and indeed, in some cases, within precincts. They are very much about the location, the position within the location and current vacancy levels.” 
She said rents for strip shops in the best strip locations generally ranged between $800 and $1,200 a square metre. 
<a href="https://www.propertyobserver.com.au/images/2017/05/17/Strips1.png" target="_blank">Click to enlarge</a>
 <img src="https://www.urban.com.au/images/2017/05/17/Strips1.png" alt="">
<img src="https://www.urban.com.au/images/2017/05/17/Strips2.png" alt="">
 
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Food services to drive recovery in Melbourne's strip vacancies: Savills

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ASX-listed cleaning and security specialist Millennium Services Group Limited has agreed terms on a new office lease at Mt Waverley in Melbourne’s south-east in a deal brokered by Savills Australia.
The Level 1, 205- 211 Forster Road property comprises 700 sqm of fully-fitted and furnished office space.
Millennium will pay circa $186,000 per annum net on a five year term.
Savills’ Daniel Kelly, who negotiated the deal, said the tenant would relocate from Toorak and needed additional room to cater to business growth.
“Millennium needed expansion space and found it in a modern, three-year old building which is fully fitted and furnished, and very close to the Monash Freeway providing exceptional road transport access,’’ Kelly said.
The lessor was a private Melbourne investor.
 
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Millennium takes Mt Waverley office lease through Savills

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Salta Properties’ business precinct in Melbourne’s Mulgrave, Nexus Corporate, will offer property management platform Equiem to its tenants, making it the first ever business precinct in Australia to adopt the software.   
Equiem is a customer-focused property management platform that bridges the information gap between occupant and owner, and is expected to allow Salta to fully understand tenant needs and tailor its customer experience.
On completion, Nexus Corporate will offer in excess of 120,000 sqm of premium office space, which makes it the largest suburban office precinct in Victoria with an end value of more than $800 million.
Managing director Sam Tarascio said Salta was committed to innovation and listening to customer needs.
“Tenant satisfaction is always top of mind and we are pleased to offer a service that will provide us with a better understanding of their needs and ultimately benefit the 4,000 employees who call Nexus home,” said Tarascio.
Tenants at Nexus include Adidas, Nestle, IAG, GS1, CBRE, ADP, Carlisle Homes, Bristol Myers Squibb, Nestle Heath Sciences and Renault. 
Equiem’s platform will allow the tenants a tailored concierge portal and services such as online ordering from retailers including Nexus’ two onsite cafés, catering for meetings, car wash and dry cleaning services.
There is a full-time Equiem community manager who will be responsible for customised tenant engagement programmes.
Equiem CEO Gabrielle McMillan said they were forward to expanding its offering to include more than just high rise buildings.
“At Equiem we pride ourselves on connecting different businesses as one community. Nexus Corporate provided a new challenge where the precinct is spread horizontally rather than vertically, however the fundamentals remain the same, it's about convenience, community and connection,” said McMillan.
Due to launch in May 2017, Salta Properties will be able to unlock deeper engagement with all tenants and provide an enhanced service offering.
 
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Salta Properties offers tenancy platform at Mulgrave business precinct

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Subway has bought an office-warehouse space in Melbourne’s outer-east for $625,000 to set up its eastern seaboard training facility.
The sandwich restaurant chain joins other food and beverage businesses, trade services like Jim’s Mowing, a bike manufacturer and a spice maker among the other owner-occupiers in the new Industria Knoxfield strata commercial estate.
The deal pushes the project to more than 50 per cent sold. With only three units available, stage two is almost sold out, pushing stage three to launch ahead of schedule.
Located at 1464 Ferntree Gully Road, Industria Knoxfield is being developed by Wilmac Properties and Folkestone and will deliver 88 office warehouse units and a café when completed. 
Subway’s training facility is a 278 sqm office-warehouse unit. 
The deal was secured by Colliers International’s Andrew Chrapot and Jonathan Mercuri in conjunction with Crabtrees Real Estate’s Chris McKenzie, Luke Pitcher and Megan Miles. 
<img src="https://www.urban.com.au/images/2017/05/11/Knoxfield1.JPG" alt="">
Chrapot said a surge in demand from local owner-occupiers and investors had fuelled demand ahead of July 1, when the stamp duty legislation will cease for off-market sales.
“Since the changes to off-the-plan stamp duty savings have been announced, which will be enacted at the start of the new financial year, there has been a splurge in transactions,” he said. “Buyers are trying to make the most of the savings in the time left and this has led to unprecedented sales.”
Chrapot said the remaining units were attracting keen interest and strong sale prices. 
“Units from 97 sqm to 312 sqm have achieved full asking prices, ranging from $249,000 to $775,000 respectively, amid strong demand from local private investors, owner-occupiers and self-managed super fund buyers,” he said.
The affordable pricing and the prime location, just minutes from EastLink, the Monash Freeway and Burwood Highway, had proven enticing factors to buyers, added Mercuri.
Stage one of the development is sold out, with settlement and occupancy taking place later this month. Stage two is 85 per cent sold and stage three is 45 per cent sold. Onsite café Half Half, by the operators of Mount Waverley’s Poacher &amp; Hound, is due to open in July, they said.
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Subway secures 278 sqm at Industria Knoxfield

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Malaysian developer UEM Sunrise says it is seeing strong demand for strata offices at its Aurora Melbourne Central development, which it attributes to a combination of low supply in the CBD and record low rates.
At Aurora Melbourne Central, the total sales are now more than 75 percent, reaching record rates of $10,350/sqm, the company said.
Citing Colliers International data, it said prior to Aurora, the latest strata office projects have sold for roughly $8,000/sqm at 580 Collins Street and $7,500/sqm at 838 Collins Street.
Aurora Melbourne Central is a 92-storey skyscraper comprising residential, serviced apartments, retail and offices. 
Colliers’ head of Office Sales, Chris Ling, said the location, quality of the project and its direct connection to Melbourne Central station and shops is driving a premium.
“Additionally, the extremely low supply of strata office in the CBD and fringe area is driving demand from both local investors and offshore investors – many of whom have typically been focused on retail, but have been priced out with yield compression and are looking to office spaces instead,” said Ling.
Investors make up about 50% of sales with overseas buyers mostly from Hong Kong, Malaysia and Singapore.
“Adding to that, many owner occupiers are relocating to the CBD as the amenities and access for clients and staff is far more superior, and it’s this group where we’ve seen substantial demand from,” he said.
Also, existing tenants are capitalising on the record low interest environment and looking to purchase their own office as a more viable option, taking advantage of lease expiries to enter the property market.
The owner-occupier buyers so far include a cosmetics group, an education provider, and a property developer for their office space.
The company said it has sold 100% of the residential units and more than 75% of the strata offices to date.
CEO of UEM Sunrise Anwar Syahrin Abdul Ajib said Aurora was popular with owner occupiers it was the “perfect location for commercial office spaces,” because of the direct connectivity to the train station. 
“Having sold 100% of the residential units with record momentum, we are very pleased with the successful sale of over 75% of the strata offices to date.”
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UEM Sunrise says strong strata office sales at its Melbourne CBD development

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The West region of Melbourne had the highest weekend auction clearance rate, according to CoreLogic’s latest report.
The property data firm says that out of the 107 auctions in Melbourne’s West region 85.1% resulted in a successful outcome.
This is followed by the North West region with 82.3% and the North East region with 79.5%.
<a href="https://www.propertyobserver.com.au/images/2017/05/15/Screen%20Shot%202017-05-15%20at%2010.08.41%20am.jpg" target="_blank">Click to enlarge</a>
<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/2017/05/15/Screen%20Shot%202017-05-15%20at%2010.08.41%20am.jpg" alt="">
The South East region had the lowest auction clearance rate with only 67.5% of its 83 auctions cleared.
A three bedroom townhouse at <a href="https://www.realestate.com.au/sold/property-townhouse-vic-maidstone-125292754" target="_blank">4/13 Powell Crescent</a>, Maidstone (above) was sold for $675,000.
Similarly a three bedroom house at <a href="https://www.realestate.com.au/sold/property-house-vic-west+footscray-125276454" target="_blank">25 Tucker Street</a>, West Footscray (below) was sold for $890,000.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/05/15/25%20Tucker%20Street.jpg" alt="">
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West Melbourne region scores highest weekend auction clearance rate: CoreLogic

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Melbourne has emerged as having the highest 12 month growth for home values, according to CoreLogic’s latest report.
The property data firm says that over the past 12 months Melbourne’s home value has increased by 12.9 percent.
This is slightly more than Sydney’s growth of 12 percent.
Melbourne achieved this growth despite a weekly decline of 0.7 percent compared to Sydney’s 0.4 percent decline.
<a href="https://www.propertyobserver.com.au/images/2017/05/15/Screen%20Shot%202017-05-15%20at%2010.56.26%20am.jpg" target="_blank">Click to enlarge</a>
<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/2017/05/15/Screen%20Shot%202017-05-15%20at%2010.56.26%20am.jpg" alt="">
Perth is the only locality where the home value has declined rather than increased with a decline of 4.2 percent over the past 12 months.
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Melbourne overtakes Sydney with the highest 2017 home value growth: CoreLogic

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A residential and commercial property at Carlton on the northern edge of Melbourne’s CBD is to be auctioned on May 20 with expectations of $2.25 million to $2.5 million. 
Located at 120 Berkeley Street, the four-level property comprises a ground floor garage/showroom, a second floor open plan office, and a two-bedroom, two level, residence with separate ensuite bathrooms on the third and fourth floors with balconies on each level.
The building was built in 2008 and has an area of 368 sqm, sitting on an 89 sqm site with frontages to both Berkeley Street and a right of way at the rear. The zoning is Capital City Zone.
Teska Carson’s Gideon Marcus is marketing the property. 
Marcus said the property would appeal to both investors and owner‐occupiers due to its inner city location and he expected strong interest from both.
“The property is situated in one of Melbourne’s most successful residential and commercial precincts that benefits from an abundance of first rate amenity and direct linkage into the Melbourne CBD,” said Marcus.
The property will be sold with vacant possession.
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Carlton residential-office property to go under the hammer

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The majority of apartments in Melbourne are failing to meet all the minimum requirements, according to Secret Agent’s latest report.
Secret Agent said compared recently built apartments with the Better Apartments Design Standards and found inner Melbourne's apartments lacking.
"What we found only confirmed our intuitive assumptions of inner Melbourne’s apartments: they’re generally hard to live in,” the report stated.
"Of the 3000 apartments that were surveyed only 9 passed.
“While our full report dove into detail about each standard, this bulletin sums up the results of the overall study to shed light on the bigger picture (see Table 1).
<a href="https://www.propertyobserver.com.au/images/2017/05/03/Screen%20Shot%202017-05-03%20at%2012.11.00%20pm.jpg" target="_blank">Click to enlarge</a>
<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/2017/05/03/Screen%20Shot%202017-05-03%20at%2012.11.00%20pm.jpg" alt="">
"We sampled 3000 apartments built in the last 6 years across 21 suburbs in Melbourne.
"Overall, 99.7 percent (2,991 apartments) failed to meet all the minimum requirements.
"Only 9 apartments passed the seven standards we assessed (main bedroom dimensions, smallest bedroom dimensions, living room dimensions, private open space, windows, room depth, storage).
"Out of these, 4 were 1 bedroom units, and 5 had 2 bedrooms,” the report advised.
The group then went to list the errors or faults that they found in the surveyed apartments.
Private open space
94.2 percent (2,826 apartments) had balconies that were too small, or had none at all.
Bedroom and living room dimensions
92.3 percent (2,770 apartments) were too small in terms of both bedrooms and living rooms, failing to meet all minimum dimensions.
Accessibility
84 percent (2,520 apartments) had either bathrooms or corridors that were too small. These failed accessibility standards.
Natural ventilation
70 percent (2,100 apartments) were not well-ventilated. Most of these only had windows on one side of the apartment, with the opposite wall facing the internal corridors.
Windows
52 percent (1,560 apartments) did not provide adequate sunlight to bedrooms. More than half of our sample either had no windows to their bedrooms, or had ‘snorkel’ windows that were deeper than allowed.
Room depth
15.6 percent (468 apartments) were too deep, reducing natural light in parts of the living and dining areas,” the report stated.
For more information, <a href="https://secretagent.com.au/">click here</a>.
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