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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A retail property in Melbourne’s Moonee Ponds has been sold to an owner occupier for $1.525 million in an off-market deal. 
The price was $225,000 more than what it sold for 12 months earlier.
The deal was brokered by Fitzroys agent Terence Yeh. 
The 95 Puckle Street property spans 147 sqm. The new buyer plans to open a homeware retail shop at the site. 
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jonathanchancellor-7SQnKwU6yx

Homeware retailer finds home in Melbourne’s Puckle Street 

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From a purely aesthetic perspective, Melbourne's suburbs have received a wave of project completions of late that achieve more than a pass mark in terms of design nous.

Over the last quarter, Apartments.com.au has tracked in excess of 40 separate projects that have reached completion, with the vast majority residential in nature and given little to no coverage upon completion. Far from the precast, cookie cutter design flops that are symptomatic of early builds in suburbs such as Preston, Footscray and Doncaster, the current rash of completions bring a heightened level of design flair.

Editorialising for a moment, aesthetically better design should of course be the norm as opposed to the exception, or at least one would hope. Thankfully a healthy number of recently completed projects do indeed distinguish themselves in the design stakes.

Dotted around metropolitan Melbourne, the cream of the crop of recent completions can be seen below, beginning with a trio in Melbourne's North West.

Opened during late July, the mixed-use Brimbank Community and Civic Centre shapes as the most daring build Melbourne has received of late. The clash of colours and atypical shapes are trademark Lyons Architects features, particularly among their civic projects.

Project Group recently completed works on Leake Apartments, with the Essendon build featuring two floors clad in gold banding. Designed by BBP Architects, the final result provides the immediate area with a focal point, as does North Melbourne's Assembly apartments. A low-rise design by Woods Bagot, Assembly results in 138 dwellings across four separate buildings which are clad predominantly in metal.

<figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/image11_9.jpg" rel="gallery-all" title="The Brimbank Community and Civic Centre with Leake and Assembly"><img alt="" class="image-article-full-width-580px" height="386" src="/sites/urban.melbourne/files/styles/article_full_width_580px/public/pictures/article-images/image11_9.jpg?itok=7ki0taPw" title="The Brimbank Community and Civic Centre with Leake and Assembly" width="580"></a>

<figcaption>The Brimbank Community and Civic Centre with Leake and Assembly</figcaption></figure>Hawthorn East's Burwood Road has a contemporary design high point by way of Solstice Apartments. Its 106 apartments are arranged around a central courtyard with privacy over the higher levels consisting of a tight configuration of vertical batons, resulting in a screening that looks attractive from street level. Not far behind in the design stakes is Orbit Architecture's Radius Box Hill which is clad in a variety of finishes, including screening with circular motifs.

In neighbouring Doncaster, Panorama Doncaster Hill is over the line. The Peddle Thorp Architects design was built by LU Simon and its sheer size allows for its exterior to carry a differing design language to all elevations. From angular honeycomb-like balconies to sweeping bends, Panorama Doncaster Hill is an altogether crisp outcome.

<figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/image6_9.jpg" rel="gallery-all" title="Solstice, Panorama and Radius"><img alt="" class="image-article-full-width-580px" height="748" src="/sites/urban.melbourne/files/styles/article_full_width_580px/public/pictures/article-images/image6_9.jpg?itok=XhvMILrZ" title="Solstice, Panorama and Radius" width="580"></a>

<figcaption>Solstice, Panorama and Radius</figcaption></figure>The South Eastern suburbs witnessed a disproportionately large number of completions, headlined by BPM's The Standard on Bay Road, Brighton. The Elenberg Fraser design carries vertical white 'ribbed' elements to all elevations, providing a uniform and clean outcome.

Jackson Clements Burrows' Elsternwick Place also looks sharp, albeit with a very different architectural language; simulated brickwork contrast by white mesh screens and an angular roof provide the project with a unique appearance. Beck Property's Stage 1 of Caulfield Heath is also complete with Probuild having delivered the initial buildings that were designed by SJB Architects.

<figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/image4_8.jpg" rel="gallery-all" title="Standard Brighton, Caulfield Heath and Elsternwick Place on show"><img alt="" class="image-article-full-width-580px" height="560" src="/sites/urban.melbourne/files/styles/article_full_width_580px/public/pictures/article-images/image4_8.jpg?itok=B5QKZEGJ" title="Standard Brighton, Caulfield Heath and Elsternwick Place on show" width="580"></a>

<figcaption>Standard Brighton, Caulfield Heath and Elsternwick Place on show</figcaption></figure>Prahran bobs up with two residential projects; one definitely a step away from the norm. Zac Apartments is a smart design by Ascui &amp; Co Architects on behalf of developer Peregrine Projects and features 36 apartments.

Presenting an all red exterior, Vox Prahran at 59 Porter Street is the creation of Kavellaris Urban Deisgn. Built by Merkon, the seemingly uniform facade can be adjusted, with the retractable louvres revealing balconies behind. Definitely something out of the box in terms of appearance.

<figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/image3_3.jpg" rel="gallery-all" title="Prahran style"><img alt="" class="image-article-full-width-580px" height="299" src="/sites/urban.melbourne/files/styles/article_full_width_580px/public/pictures/article-images/image3_3.jpg?itok=oGBgEQtg" title="Prahran style" width="580"></a>

<figcaption>Prahran style</figcaption></figure>Aged care also welcomed two new completions by way of Regis Aged Acre's Malvern build and the Emmy Monash Aged Care/Gandel House complex on Hawthorn Road. According to architect Bates Smart's website, Emmy Monash involves 97 rooms with a variety of amenities and internal landscaped courtyards.

Icon Co delivered Emmy Monash with a construction value of $43 million.

<figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/image1ac.jpg" rel="gallery-all" title="Malvern and Caulfield North upon completion"><img alt="" class="image-article-full-width-580px" height="727" src="/sites/urban.melbourne/files/styles/article_full_width_580px/public/pictures/article-images/image1ac.jpg?itok=6wodWCmW" title="Malvern and Caulfield North upon completion" width="580"></a>

<figcaption>Malvern and Caulfield North upon completion</figcaption></figure>Not to be forgotten and staying close to Melbourne's CBD is the National Tennis Centre's Administration and Media Building. As the only commercial completion of late, the Hassell Studio-designed complex houses permanent admin offices above lower levels dedicated to media use. At peak use during the Australian Open, 600 media personnel can be accommodated over the building's lower levels.

<figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/img_6865.jpg" rel="gallery-all" title="Administration and Media Building"><img alt="" class="image-article-full-width-580px" height="386" src="/sites/urban.melbourne/files/styles/article_full_width_580px/public/pictures/article-images/img_6865.jpg?itok=ZTv-yKi3" title="Administration and Media Building" width="580"></a>

<figcaption>Administration and Media Building</figcaption></figure>Finally one of the longest running builds has drawn to a close with Eastland's makeover complete. Designed by The Buchan Group, builder Probuild has seen the final eastern expansion works over the line, bringing a new dynamic to large-scale retail design in the process.

Readers may recall an article by Apartments.com.au earlier in the year highlighting the project's <a href="/news/a-new-public-realm-for-ringwood">highly impressive urban realm works</a> that are soon to be added to with the addition of a new multi-level hotel within the precinct.

<figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/image2_7.jpg" rel="gallery-all" title="Eastland, where even the car park holds a level of design intrigue"><img alt="" class="image-article-full-width-580px" height="713" src="/sites/urban.melbourne/files/styles/article_full_width_580px/public/pictures/article-images/image2_7.jpg?itok=_cWdvFTm" title="Eastland, where even the car park holds a level of design intrigue" width="580"></a>

<figcaption>Eastland, where even the car park holds a level of design intrigue</figcaption></figure>See below further images of the above projects.
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silvermb

Recent completions bolster suburban Melbourne's design dymanic

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Mum-and-dad private investors are competing with offshore buyers for strata office and retail shops in the Melbourne CBD, helped by the low interest rate environment.
Colliers International’s senior executive Oliver Hay said the current appetite for strata investment assets in the CBD, both offices and small retail investments, would continue to grow amid record low interest rates and strong competition.
“Of the last seven strata deals facilitated by Colliers in the last two weeks, half of these assets have been sold to local purchasers and half to those from offshore or with offshore interests,” Hay said. 
“This insatiable appetite for strata assets is driving a spate of sales and new listings as local and offshore buyers compete.”
Recent deals have included:
<ul>
<li>Level 2, 24 Albert Street: A 195sqm office suite purchased by a private local investor for $760,000.</li>
<li>Level 6, 24 Albert Street: A 225sqm office suite purchased by a local owner-occupier for $825,000.</li>
<li>Suite 4.04, 838 Collins Street: A 78sqm office suite purchased by a private interstate investor for $560,000.</li>
<li>Mezzanine level, 58 Franklin Street: A 347sqm office suite purchased by an offshore investor for $1,325,000. </li>
<li>Shop 2, 2 Queen Street: 70sqm of retail space purchased within two days on market by an offshore investor for $1.5million.</li>
<li>Shop 2, 377 Lonsdale Street: A 130sqm retail suite purchased by a local investor for $1.82million.</li>
<li>Level 8, 21 Victoria Street: A 320sqm office suite purchased by private local investor for $1.75million.</li>
</ul>
Colliers International’s David Sia said the current activity was being fuelled by a perfect storm of market conditions including strong international demand, record low interest rates, a weak AUD and volatility in the equities market. 
“We will continue to see yield compression throughout 2016 given the pent-up demand for good office and strata retail in quality CBD locations,” said Sia.
Interstate buyers are also increasingly active in the strata market, with three properties in one week recently sold to this buyer group by Colliers International – Shop 2 at 2 Queen Street and two office suites at 838 Collins Street.
“Off the back of the sale at 2 Queen Street, we will soon be launching another prime CBD strata retail asset at 118 Franklin Street with price expectations of in excess of $2 million.”
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Local vs offshore in Melbourne CBD as buyers fight for strata office, retail: Colliers

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Westfield owner and manager Scentre Group has sought an amendment to the Manningham planning scheme in order to allow for a sizeable expansion of Westfield Doncaster.

Manningham City Council are currently considering the application for what is known as for the Manningham Planning Scheme Amendment C104. Scentre Group is seeking the right to add approximately 43,000sqm of additional gross retail lettable area and 18,000sqm of additional commercial office space, which they believe will support increased employment opportunities on Doncaster Hill.

In addition a revamped bus interchange and parking for 2,500 vehicles is included within the masterplan, with the latter spread over basement and multi-storey options.

According to application documents Westfield Doncaster which covers 58 hectares is seeking to become "a ‘state of the art’, contemporary, sustainable, high-density, mixed-use village that enhances the social, environmental, economic and cultural elements of the region."

A visual marker for the redevelopment is expected in the form of a new commercial tower which will front Williamsons Road. The aforementioned office space will be located over ten levels set above six basement levels and a retail podium, with the height of the tower capped at approximately 50 metres.

<figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/image2tract.jpg" rel="gallery-all" title="A sought after built form outcome. Planning image: Tract Consultants"><img alt="" class="image-article-full-width-580px" height="246" src="/sites/urban.melbourne/files/styles/article_full_width_580px/public/pictures/article-images/image2tract.jpg?itok=dgKZSkZA" title="A sought after built form outcome. Planning image: Tract Consultants" width="580"></a>

<figcaption>A sought after built form outcome. Planning image: Tract Consultants</figcaption></figure>Along with the new bus interchange which has been designed in consultation with Public Transport Victoria and bus operator Transdev, a new public forecourt of some 400sqm will also front Williamsons Road. As well as providing a common entrance for both commercial and retail uses, the public forecourt will act as new a public amenity and meeting space.

As defined within the application, new opportunities for the public realm include:

<ul>
<li>New street interfaces which should incorporate architectural and landscape design and pedestrian-generating and retail activities at street level to support a better pedestrian experience.</li>
	<li>Relocated and expanded forecourt/entry with active frontages in appropriate locations to establish a vibrant public space along Williamsons Road.</li>
	<li>Potential upper level public space above Williamsons Road to provide passive surveillance and take advantage of views over surrounding area and Melbourne CBD.</li>
	<li>Establish appropriate landscaping to provide shade in the public realm, soften built form and acoustic walls, and further enhance Williamsons Road boulevard.</li>
</ul>
<h2>Current development</h2>

With the prospect of another large-scale expansion on the cards, Scentre Group have acted upon an existing planning permit to alleviate the demand for car parking onsite.

Currently two tower cranes are servicing an expansion of the multideck car park toward the eastern border of the site, bound by Grosvenor Street to the north and Goodson Street to the south. This build will allow for an additional 550 plus vehicle spaces.

With onsite car parking set to expand beyond 4,770 spaces, a hefty 7,430 car parking spaces slated for the future Westfield Doncaster according to the Urban Design Report which accompanies Amendment C104.

<figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/img_3624_0.jpg" rel="gallery-all" title="Westfield's current expansion is well into construction"><img alt="" class="image-article-full-width-580px" height="370" src="/sites/urban.melbourne/files/styles/article_full_width_580px/public/pictures/article-images/img_3624_0.jpg?itok=ak3IsO__" title="Westfield's current expansion is well into construction" width="580"></a>

<figcaption>Westfield's current expansion is well into construction</figcaption></figure><h2>Comment: hard act to follow</h2>

Westfield Doncaster's most recent mass development was completed seven years ago. Since that time Eastland, Chadstone, Highpoint, The Glen and Westfield Knox have all or are in the process of undertaking exceptionally large expansions.

In the face of such competition the current Westfield Doncaster expansion looks to be Scentre Group's play at keeping the facility on par with its competitors, but can it deliver on amenity and on key public realm upgrades? Late last year Eastland managed to distinguish itself from the pack by way of a highly <a href="/news/a-new-public-realm-for-ringwood">inclusive and activated public realm</a> which acts as a quasi town centre.

Could Westfield Doncaster deliver a similar outcome? Well on the face of it, no.

The Doncaster centre is still heavily car dependent while Eastland has rail and bus options on its doorstep (what residents of Doncaster would give for that!) with the newly finished Ringwood Station upgrade providing no shortage of foot traffic. Williamsons Road and Doncaster road are wide, inhospitable thoroughfares that don't promote mass foot traffic.

How Westfield Doncaster's upcoming forecourt intends to accommodate and retail pedestrian life when wedged between an eight lane road and the centre itself shapes as an interesting design challenge.
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Westfield Doncaster seeks further expansion, but can it better interact with its surrounds?

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The retail component of the Aqua development in Sydney's Bondi Junction is for sale by public expressions of interest closing June 10.
Real estate developer Qualitas has appointed Cushman &amp; Wakefield to sell the 241 – 245 Oxford Street property.
The residential component of the development included 129 units that were released in May 2014 and were sold within four hours.
The retail investment opportunity will be sold 100% leased with a Weighted Average Lease Expiry (WALE) by income of over nine years. The development is due for completion by September 2016.
“An investment opportunity in the tightly held Bondi Junction retail market is unique, particularly in a location adjacent to one of the strongest performing Westfield Shopping Centres in Australia. As a result, we expect strong interest from local high net worth private investors as well as offshore purchasers," said Cushman &amp; Wakefield’s senior director of Retail Investments, Sashi Makkapati.
Makkapati and Cushman &amp; Wakefield’s Billy Dent are handling the marketing of the property.
Qualitas has agreed leasing terms with Neil Perry’s Burger Project and Damat &amp; Tween, a European fashion label that will be open their flagship Sydney store.
 
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Qualitas' Bondi Junction retail development up for sale

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Developer Consolidated Properties had the official opening of its Casuarina Village Shopping Centre, which is a full house after surfwear retailer Rip Curl secured the final tenancy in the precinct.
Rip Curl, which signed a lease for a 144 sqm space with an expected July open, adds to Casuarina Village's line up of retailers that includes cafes and restaurants, doctor’s surgery, bottle shop and a travel agency. 
The $25-million centre also includes a 2,500 sqm market-style Coles, the only full-line supermarket in the Salt Village/Casuarina residential and resort precinct.
Tweed deputy mayor Gary Bagnall, Member for Tweed Geoff Provest and Member for Richmond Justine Elliot and Consolidated Properties executive chairman Don O'Rorke went on a tour of Casuarina Village.
"Casuarina Village has had an extremely successful first few weeks of trade, vindicating our decision to create a dedicated retail hub for the Casuarina township," O'Rorke said.
Member for Tweed, Geoff Provest, said the Casuarina Village Shopping Centre had created around 220 jobs during the development stage, while the 100 ongoing, long-term jobs within the centre would benefit the local community.
"I think particularly looking at the local economy relying on tourism and retail, this centre adds so much value and is especially great for the locals who already love the new services they can access right on their doorstep," said Justine Elliot, Member for Richmond.
Casuarina Village was developed by Casuarina Beach developer Consolidated Properties along with capital partners CVS Lane Capital Partners.
The centre is on the corner of Grand Parade and Casuarina Way, which links the north and central residential villages of Casuarina Beach, and also provides a direct connection to the adjoining $1 billion Salt Village community.
"I've lived in Casuarina for 13 years and I've always loved it here, but now it's even better because I can shop locally instead of having to drive to Kingscliff or Cabarita," said local resident Lisa Burgess.
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Full house at Casuarina Village shopping centre

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Chinese tourists spent a record $8.3 billion during their stay in Australia in the year to December, according to Tourism Australia, a 45 per cent jump over the previous period and a key factor in revitalising the country's retail sector.
And with four Chinese airlines – China Southern, Air China, China Eastern, and Sichuan Airlines - delivering travellers to Melbourne’s Tullamarine Airport on 33 direct-to-Melbourne flights each week, Melbourne is reaping the benefits, according to new research by Savills.
Savills Australia’s Victorian Retail Service director Michael Di Carlo said the Chinese spend had contributed to reviving Melbourne’s CBD retail market which has shown a steady decline in vacancy over the last five years, according to Savills research.
"Chinese tourists are a very significant market for Melbourne retailers. They have strong links with Melbourne through a well-established Chinese residential and business community as well as a large Chinese student population," said Di Carlo.
"Australia’s lower dollar has also meant a much more favourable exchange rate in recent years and that has, perhaps more than anything else, driven what is a remarkable increase in the total tourist spend.’’ 
He said the recent influx of international fashion brands to Australia’s fashion capital had also been an important factor.
"Wealthier Chinese are keen buyers of luxury items and not averse to travelling abroad to take advantage of relatively inexpensive purchases,’’ he said.
According to a report by Shanghai-based consultants Fortune Character Institute, Chinese consumers are expected to remain the biggest spenders in the global market this year, accounting for 46 per cent of worldwide sales of luxury goods with 78 per cent of the purchases made overseas.
Estimations by the Chinese Ministry of Commerce put the average price of luxury goods in China at 45 per cent higher than Hong Kong, 51 per cent higher than the United States, and 72 per cent higher than France.
Savills Retail Services executive Jock Thomson said a boom in the pharmaceutical and health products trade in Melbourne’s CBD had also been driven by Chinese buyers on the back of concerns about the safety and reliability of those products produced in China.
He said the number of pharmaceutical and health product shops in Melbourne’s CBD had risen 46 per cent over past five years, according to Savills research.
"This is an extraordinary rise which cannot be explained by typical market trends, rather it is driven by issues that Chinese consumers have with home grown health products forcing them to look elsewhere for those products,’’ Thomson said.
He said recent leasing deals in the Melbourne CBD included Redhill Health at 117 Swanston Street and Great Earth, which has three stores in the Melbourne CBD, alongside the plethora of pharmacies along Elizabeth Street.
"Enquiry has increased markedly over the last 12 months particularly with prospective tenants looking to capitalise on what is a booming market. Walk into any of those pharmacies, and one will see Chinese tourists with baskets full of Australian vitamins and health-based products,’’ he said.
Thomson said the rise in Australian health products maker Blackmore’s nearly ten-fold share price to to $217.98 on December 21, 2015 from $20.51 on December 20, 2013 had apparently much to do with the lucrative Chinese market, which makes up more than a third of Blackmores’ sales.
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Chinese tourist dollars driving CBD retail: Savills research

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A retail arcade in the NSW town of Kempsey is set to go under the hammer for circa $1 million at a Burgess Rawson portfolio auction on April 5 in Sydney.
Located at <a href="https://www.burgessrawson.com.au/buying/NSW/Mid-North-Coast/Kempsey/Retail/2P1165#.VvCb8mR96u5" target="_blank">14 Smith Street</a>, Centrepoint Arcade comprises 12 ground floor retail tenancies and a first floor gym.
<div>The 2,873 sqm property in the CBD area is surrounded by IGA, Aldi, Coles &amp; Woolworths supermarkets.</div>
<div> </div>
<div>The shopping centre has a diverse mix of tenants, including a jeweller, takeaway food, cafe and Williams Shoes, and earns an estimated $69,267 pa + GST.</div>
<div> </div>
<div>There is also the potential for further development subject to council approval.</div>
<div> </div>
<div>With a Gross Regional Product of $12.16 billion, Kempsey LGA forms part of the Mid North Coast region which boasts a population of 259,000 and is expected to grow to 277,450 by 2021.</div>
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Retail arcade in NSW's Kempsey to go under the hammer at Burgess Rawson auction 

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A commercial property leased to ANZ in Rockdale has sold for $3.4 million at a recent auction.
The Princes Highway property is adjacent to Westpac and CBA branches.
ANZ are long standing occupants of the building offered <a href="https://www.burgessrawson.com.au/buying/NSW/St-George/Rockdale/Retail/2P1019" target="_blank">481 Princes Highway</a> with lease to May 2018 with extension options to 2025.
Marketed with a $152,590 pa net income, there will be annual rental increases with tenant paying outgoings.
The property occupies a wide Princes Highway frontage with rear lane access and on-site parking for up to five cars.
Surrounded by high density residential development with Rockdale train station and bus interchange located directly behind.
Simon Staddon of Burgess Rawson sold the listing.
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Sydney metro bank investment sold for $3.4 million

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Sydney CBD rental rates have stayed stable over the last 12 months with some moderate growth in the super prime region.
Rental prices in the super prime  Pitt Street Mall retail avenue currently ranges from $10,000/m2 to $15,000/m2, while a selected number of recent leases have been above $15,000/m2, according to the Knight Frank's Sydney CBD August retail market brief.
The market brief found unwavering demand from overseas retails is driving leasing in the CBD, however Knight Frank senior research analyst Luke Crawford said  a number of international retailers waiting significant periods until suitable options become available.
"While demand is high, a lack of suitable options which offer scale and appropriate street frontage has stemmed the flow to some extent," Mr Crawford said.
"This was the case with H&amp;M who spent four years looking to enter the Sydney CBD before securing 5,000m2 at Pitt Street’s Glasshouse Centre."
<a href="/images/2015/08/12/Screen%20Shot%202015-08-12%20at%204.07.48%20PM.png" target="_blank" style="line-height: 1.3em;">Click to enlarge</a>
<img src="/images/2015/08/12/Screen%20Shot%202015-08-12%20at%204.07.48%20PM.png" alt="">
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