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

Retail

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H &amp; M, Hennes &amp; Mauritz AB (H&amp;M), one of the world’s largest fashion retailers, known for offering high fashion and quality basics at affordable prices in a sustainable way, has announced that its Sunshine Plaza store will open March 28
Sunshine Plaza will be the site of H&amp;M’s first store to open on the Sunshine Coast and the twelfth in Queensland.
Spanning approximately 2,700 square metres and set over two levels; the much-anticipated store will offer an exciting shopping experience by showcasing apparel, underwear and accessories for Men, Women, Kids and Baby and the Home concept.
“We are excited to announce that our new store at Sunshine Plaza will be opening on the 28th of March” said Thomas Coellner, Australian Country Manager for H&amp;M. “Our customers are number one and we are looking forward to finally introducing the H&amp;M brand to the Sunshine Coast and meeting our new customers on opening day”.
 H&amp;M entered the Australian market in 2014. There are 36 stores nationwide.
<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/2019/2/14/David%20Jones%20and%20BIG%20W%20will%20open%20on%2028%20March%20as%20part%20of%20Sunshine%20Plazas%20grand%20opening.jpg" alt="">
Sunshine Plaza today announced the grand opening of its $440 million redevelopment will take place March 28.
Since construction works commenced in September 2016, the centre has secured the region’s first David Jones and H&amp;M stores, as well as a new Big W which will all open as part of the redevelopment.
The total expansion adds 35,000 square metres of retail space to the existing centre, and includes over 100 additional specialty stores such as <a id="LPlnk346239" name="x__Hlk780282" href=""></a>MECCA, Sheike, lululemon, Seed Heritage, Endota Spa, JB Hi-Fi, Kathmandu and Baku, with many more to come. 
The significant redevelopment will see Sunshine Plaza become the first super-regional* shopping centre north of Brisbane and is expected to generate 2,300 additional retail jobs for the region on completion.  
Lendlease managing director of retail, Gary Horwitz said they'd achieved is a new benchmark for retail centres across Australia. 
“Sunshine Plaza now has some of the biggest national brands and most sought-after specialty stores, so locals no longer need to travel to Brisbane."
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j.ballantyne1990-6AQqhLzZaK

H&M to open Sunshine Plaza store in March 2019

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Solvency and accounting firm Worrels has been appointed as voluntary administrator to the makeup brand Napoleon Perdis.
Founder and makeup artist Napoleon Perdis attributed blame to a wide range of factors from “greedy (lenders)” to declining “foot traffic” in the retail sector and entry of multinational fashion brands to the Australian market.
<div>
The company's 56 stores closed their doors for a stocktake on Thursday but reopened today, Friday. 
</div>
More than 600 staff are employed the company, which opened its first store in 1995,
The majority of their storefronts are in NSW, specifically Sydney, however they have at least one store in every capital city across across Australia
Worrels was appointed after the Napoleon Perdis directors were unable to find investors or sell the business over the past few months.
Mr Perdis (pictured below) said in an interview with Your Money, that demand for their products is still strong through partner stores including Priceline and Terry White chemists, as well as its online store.
<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/2019/2/1/Perdis.jpg" alt="">
He complained that landlords are "squeezing" small and large businesses while they allow "large multinational (businesses) to negotiate much lower per square meter return rate".
"I just want an equal playing field"
"For a couple of years now we've been trying to consolidate our retail structure and there's been enormous costs," he stated.
He disclosed to ABC, "If you estimate that we close 20 to 25 stores, there's three staff per store on average, so close to 100 staff may need to be redeployed, however we're looking to actually see whether we can place them in partner businesses like Priceline."
<div>
An initial creditors meeting will be held within eight days, with a second meeting to determine the brand's future expected to be held within a month.
Several Australian retailers have entered administration during the past 12 months, including <a href="/news/menswear-chain-roger-david-shutting-down-leaving-behind-56-empty-storefronts">menswear chain Roger Daved.</a>
 
</div>
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Australian beauty brand Napoleon Perdis may close 20+ stores in voluntary administration

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JD Sports Fashion has opened in Sydney’s Pitt Street Mall at 400 George Street.
The successful fashion retailer signed a 10-year lease for 1,200 sqm of space across both the ground floor and level one.
The ground floor is functioning as a sporting footwear department store, while the upper level showcases a range of sports clothing and active wear.
Michael Cook, Group Executive, Investa said, the new JD Sports store located within 400 George Street and fronting Pitt Street Mall was the perfect fit.
"If the first few weeks are any guide, JD Sports will emerge as one of the strongest retailers in the city,” he said.
<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/2018/12/20/JD%202.jpg" alt="">
400 George Street is a 51,000 sqm office and retail complex located in the centre of the Sydney CBD.
Adjoining the office building, Sydney Arcade incorporates over 5,500 sqm of retail space and accommodates leading Australian and international retailers such as Hugo Boss, Telstra Discovery Centre, Mont Blanc and a Woolworths Metro store.
Leasing agent, Alex Alamsyah of Knight Frank completed the leasing transaction in conjunction with Invest.
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JD Sports opens in Pitt Street Mall

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Adjoining retail shops in Brighton have sold for the first time in 30 years for a combined $1.75 million.
The sale of the 342 square metre site over the two titles at 617 &amp; 619 Hampton Street stores reflected a yield of 1.9%, and land rate of $5,116 per square metre.
617 Hampton Street was offered with vacant possession while 619 Hampton Street is leased to longstanding tenant Hampton St Organic Produce, returning $33,581 per annum plus outgoings and GST.
Fitzroys agents Mark Talbot and Tom Fisher said the properties were Zoned Commercial 1 and are also subject to a DD012 Overlay with a preferred development height of 11 metres.
“The property attracted strong interest interest from investors, owner occupiers and developers looking for a rare chance to acquire a versatile and underutilised bayside freehold, leading to competition between multiple bidders at auction,” Talbot said.
Talbot said despite tightened lending conditions, vacant retail properties have been trading strongly throughout Melbourne.
“Cashed-up investors and owner occupiers will continue to be active in this space, as the low interest rate environment is expected to remain for some time,” he said.
He noted the recent sale of the former premises of the Brighton favourite Wild Holly Cakes on nearby Bay Street as an example.
“Demand from investors and owner occupiers to gain a presence in the blue-ribbon suburb has spilled over from the dominant Church Street retail strip,” Talbot said.
“The superb fundamentals of an affluent and growing immediate catchment have made a notable impact on one of Melbourne’s most highly regarded suburbs.”
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Adjoining shops in Brighton with development potential sold

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Shopping Centre Managers have been reporting refurbishments are the key to retail success in a competitive market, according to the latest JLL Retail Survey.
The survey shows food operators continue to drive tenant enquiry as well as centre managers continued optimism about factors within their control – refurbishments and tenant remix. However more negative about external factors like fuel prices
JLL’s 19th Retail Centre Managers’ Survey was undertaken in August across 88 JLL-managed retail shopping centres nationally. The majority of centres were neighbourhood and sub-regional centres.
JLL’s Head of Property &amp; Asset Management – Australia, Richard Fennell said, “The Survey showed that 42% of JLL Centre Managers made a positive comment about the recent performance of their centres in relation to an improvement in sales trends, tenant sentiment, foot traffic and/or leasing enquiry."
“JLL Centre Managers continued to view ‘expected changes to tenancy profile’ as having the most positive impact on the MAT outlook or their centres. More than half of survey respondents (61%) stated that it would drive sales growth over the next 12 months, up from 55% in the previous survey in February this year,” noted Mr Fennell.
<img src="https://www.urban.com.au/images/2018/10/31/JLL%20Retail%20Graph%201.JPG" alt="">
When asked what factors were impacting turnover performance, the survey found the strongest positive factors were ‘expected changes in tenancy profile’ (with a net balance of 54%), ‘growth expectations within trade area’ (30%) and ‘planned refurbishment activity’ at 17%
The top three negative factors impacting on turnover have remained consistent with previous surveys. Fuel prices (with a net balance of -26%), competition from other centres (-25%) and online retailing (-20%) remain the top concerns as they have over the past year.
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Refurbishment of shopping centres is leading to trading success: JLL

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Newcastle is attracting Sydneysiders with the lure of more affordable housing and lifestyle benefits, says Colliers International.
The city has around $1.2 billion of government investment projects in the pipeline, including the completed State Law Courts, NewSpace City Campus, transport interchange, light rail construction and the approved International Cruise Ship Terminal.
George Wragge, Director of Retail at Colliers International, said that the uptick in demand can be seen in the approximately $220 million worth of apartment developments that have been completed, with another $326 million under construction.
“People have moved north chasing affordability whilst seeking a different level of lifestyle and amenity,” Wragge said.
“This recent interest has come from a realization that Newcastle is incredibly accessible to Sydney however also offers attractions such as the Hunter Valley, Port Stephens and some of the nation’s best beaches.
“A major, boutique retail precinct is truly all that is missing in this unique seaside City.”
He is hoping this missing piece will be the East End residential and retail development, which is now under construction.
“The new East End Woolworths Metro store is now committed which will cater to the needs of office workers, shoppers, tourists and residents in the Newcastle CBD and will be the catalyst to curating a gentrified urban mix of food and beverage operators, service and convenience-based retailers.”
“Newcastle is no longer a hidden gem but is now exposed to major Sydney based retailers, with more premium restauranteurs and bespoke fashion stores expected to make the move North.”
Michael Chapman, Senior Executive at Colliers International, says that the demographic shifts in the area, plus the recent announcement of international flights out of Newcastle Airport, will bring more people to the city.
“With an increase in jobs of 8.1% predicted by 2020 and a rise in population of 33.4% predicted by 2036, Newcastle may have only just embarked on a journey of growth it hasn’t and may not ever experience again” said Chapman. 
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Boom in Newcastle residential construction to be complemented by new retail centre

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The fundamentals of the Parramatta market are robust, with a growing office workforce and continued increase in the resident population making the city an attractive retail location, according to Ray White’s latest Between the Lines commercial research.
The CBD is in the midst of a development boom and the construction of new commercial and residential towers, together with transport improvements have disrupted the city.   Ray White Commercial’s Head of Research Vanessa Rader said the developments will continue for the next few years, with the major light rail project closing streets and unlikely to be completed until 2023, but it will be worth the wait.   Ms Rader noted, “the high occupancy and growing rents achieved across the Prime Parramatta retail strip are encouraging, with the continued demand highlighting the long-term longevity apparent in this location.” She said the leasing market across the Parramatta CBD strip retail market has been mixed during 2018 and that while demand is high, the uncertainty surrounding the extent of disruption to trade has made negotiations more difficult.
Their research found that gross face rents recorded growth over the past 12 months of 3.54 per cent across the total market.   Ms Rader said Ray White Commercial had surveyed the Prime Church Street retail strip, with the location divided into two zones*.   “Across the total Parramatta Prime strip, vacancy is recorded at just 6.35 per cent. The larger Zone 1 is outperforming, with a vacancy of 5.55 per cent compared to Zone 2, at 10.89 per cent,” she said.
<a href="https://www.propertyobserver.com.au/images/2018/11/6/parramatta%201.jpg" target="_blank">Click here</a> to enlarge:
<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/2018/11/6/parramatta%201.jpg" alt="">
Source: Ray White   “While cafés and restaurants are the main operators along the Church Street strip, the remaining mix is quite different.   “Zone 1 has a total of 43.62 per cent of all space devoted to food retailing, with services featured high at 19.67 per cent.
<a href="https://www.propertyobserver.com.au/images/2018/11/6/parramatta%202.jpg" target="_blank">Click here</a> to enlarge:
<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/2018/11/6/parramatta%202.jpg" alt="">   “This zone also has a somewhat even split to other retailers being clothing and soft goods, personal and household goods and recreational goods representing approximately 8 per cent of the total floorspace each.   “Along Zone 2 we see a greater reliance on food retailing, accounting for 45.91 per cent with a larger grocery component. Services also dominate, representing 41.25 per cent of space given the existence of the council offices and other banks/professional services.”   The ongoing development across the CBD, most notably the light rail project, has raised some concerns by owners regarding the disruption it will cause to their tenancies.
<a href="https://www.propertyobserver.com.au/images/2018/11/6/parramatta%203.jpg" target="_blank">Click here</a> to enlarge:
<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/2018/11/6/parramatta%203.jpg" alt="">   Despite this, the future benefits of this and other development across the Parramatta CBD will ensure that this location remains a vibrant retail hub into the future.
<a href="https://www.propertyobserver.com.au/images/2018/11/6/parramatta%204.jpg" target="_blank">Click here </a>to enlarge:
<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/2018/11/6/parramatta%204.jpg" alt="">   *Zone 1 being the area from Parramatta River to the train line (including mall fronted properties) while Zone 2, which is known as the Chinatown end of Church Street, includes the street front retail (excluding Westfield tenancies) up to Campbell Street.In total this represents just shy of 35,000 sqm with 85 per cent represented in the Zone 1 precinct.
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Development boom builds future for Parramatta CBD

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A boutique retail investment in Richmond is set to go under the hammer.
The single level, 110 square metre building on a 140 square metre site at 487 Church Street is currently utilised as a café and has been home to different food outlets for more than 30 years.
Teska Carson’s listing agents George Takis and Michael Ludski said that the property was a owner-occupier opportunity with potential development upside.
They said the property has Commercial 2 zoning which aims to promote offices, appropriate manufacturing and industries, bulky goods retailing, and other retail uses, as well as associated businesses and commercial services.
“Dubbed the innovation capital of Melbourne this area is experiencing increasing demand from tenants and developers looking for city fringe opportunities,” Takis said.
“Recent strong local and offshore investment and the number of projects underway or in the application process in the area are testament to its high desirability.”
Ludski said owner-occupiers and tenants would benefit from exposure to a high level of pedestrian and vehicular traffic.
“This is an exceptional location in terms of close proximity to all essential amenities which will continue to attract tenants and drive strong capital growth. At the same time the property offers the potential for further development (STCA),” Ludski said.
An onsite auction will be held on Thursday, November 22 at 12pm.
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Church Street, Richmond café site set for auction 

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The slump in retail commercial property continues as even stores fronting Paddington's pricey Oxford Street can't attract buyers.
It's the stock at the city end of Oxford Street which is struggling to sell.
The longest on the market has been four mixed use buildings at <a href="https://www.commercialrealestate.com.au/property/30-36-oxford-street-paddington-nsw-2021-2014233230">30-36 Oxford Street</a> (above) which are described in the marketing an "undeniably the best shop fronts in Oxford Street."
They last sold for $3.98 million in 2014.
The buildings, to be sold in one line across 700 sqm, are currently configured as four retail shops with a first floor residence or office.
Steffan Ippolito at Oxford Agency advised that fully leased the potential gross income per annum is $470,000 plus.
The properties that have over 400 sqm of floor area have been on the market since March.
Another shop front sat idly on the market since April is at <a href="https://www.realcommercial.com.au/property-retail-nsw-paddington-502777006" target="_blank">56 Oxford Street</a>, the home of womens clothing store Rodeo Show (below).
<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/2018/10/23/Oxford2.jpg" alt="">
The freehold shop and first floor office with rear lane access is being offered with vacant possession by Richardson &amp; Wrench Commercial.
It last traded for $1,815,000 in 2005.
Continuing up the road to the Woollahra end of Oxford Street, a shop at <a href="https://www.commercialrealestate.com.au/property/90-oxford-street-paddington-nsw-2021-2013673205" target="_blank">90 Oxford Street</a> on 110 sqm was listed for $2.3 million late last year.
Its re-listing is expected to see a similar guide, which puts it only a few hundred thousand up on its $2 million trade some 15 years ago.
The shop had 50 sqm of internal space over each of its three levels where there's also a one bedroom apartment.
The ground level tenancy expired late last year, and the residential tenancy expired earlier this year.
There are two new listings on the street which has been renowned for retailers and designers over the years.
Opposite Paddington Town Hall just listed is a mixed use retail commercial property on 200 sqm with a six metre frontage to Oxford Street.
The three level building at <a href="https://www.commercialrealestate.com.au/property/244-oxford-street-paddington-nsw-2021-2014696321" target="_blank">244 Oxford Street</a> (below) has three separate tenancies.
<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/2018/10/23/Oxford3.jpg" alt="">
It comprises a 115 sqm retail component on the ground floor, currently vacant, and a second 35 sqm ground floor tenancy at the rear of the property that opens to Begg Lane. That's leased to hair salon Papillion Hair.
Levels one and two are occupied by a DA approved erotic massage parlour.
The Oxford Street retail has an estimated income of $115,500 per annum, while the rear hair salon pays $36,500 per annum. They have a new three year lease.
Levels one and two have a passing income of $70,191 per annum, with a 10 plus 10 year lease.
The property last traded for $3,635,000 in 2011 when it had a guide of $4 million.
The latest commercial premises isn't solely retail. It is being marketed as suiting a variety of uses, including a gym, real estate office, art gallery or corporate HQ.
The underdeveloped site at <a href="https://www.commercialrealestate.com.au/property/345-347-oxford-street-paddington-nsw-2021-2014719004" target="_blank">345-347 Oxford Street</a> sits next to a Mitre 10 and William Street carpark with frontages to Oxford Street and Regent Lane.
It has flexible B4 mixed use zoning and last sold in 2013 when it fetched $5.5 million.
 
 
 
 
 
 
 
 
 
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jrobinson-rf4aSBido9

Prime Oxford Street retail sits on market as more stores listed

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The vacancy rate of bulky goods premises is now quickly dropping as new retail ventures emerge with the resurgence in the local economy and employment levels, according to the latest Herron Todd White (HTW) report.
The valuation firm took a look at the changing faces in the retail sector across the nation. 
"To help revitalise the Mackay CBD, landlords of vacant premises are being encouraged to allow more pop up shops. It is hoped that this concept will give the opportunity for new would be retailers to gauge how successful their venture would be without committing to a long term lease. Hopefully this will stimulate activity in the city centre and will eventually attract small retailers for longer terms," the HTW valuer noted. 
"We are aware that a major real estate agency/insurance broker is well advanced in the relocation of their premises to a central Victoria Street location which will assist in generating more foot traffic around the city centre."
Super Amart has relocated from Highway Plaza, Mount Pleasant to a tenancy of approximately 5,500 square metres in the old Bunnings building in the Greenfields Precinct at Mount Pleasant for a 15 year term, and World Gym has leased approximately 1,870 square metres for a seven year term.
Rents are confidential but incentives were considerable to fill these very large areas.
Beacon Lighting has leased a prominent tenancy at the corner of the Bruce Highway and Heaths Road and Central Queensland’s original discount retailer, Silly Solly’s, is set to make a comeback in the Greenfields Precinct.
"Heading further north, new bulky goods retailers including Fantastic Furniture and Pet Stock have commenced trade in the former Masters building at Richmond. At the time of writing, Anaconda was close to opening. We understand that Spotlight and Nick Scali will also be represented in this complex," HTW noted. 
A Mackay 108 square metre retail showroom plus office has been listed for lease with the price of $32,000 per annum.
The shop situated at <a href="https://www.realcommercial.com.au/property-retail-qld-mackay-501226811" target="_blank">206 Victoria Street</a> comes with kitchenette and bathroom.
It is close to Caneland shopping centre and other major retail shops.
<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/2018/10/4/mackay%202.jpg" alt="">
Another offering is a CBD 56 square metre retail space with lease price of $1300 per month.
<a href="https://www.realcommercial.com.au/property-retail-qld-mackay-501806070" target="_blank">The shop 2 at 134 Evan Street </a>features off street customer parking, internal toilet/skink and air condition. 
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