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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Troubled Vietnamese restaurant chain MissChu has been sold to a company controlled by <a href="https://www.smartcompany.com.au/leadership/profiles/30077-nahji-chu" target="_blank">MissChu founder Nahji Chu</a> for an undisclosed price.  
KordaMentha confirmed the sale of the MissChu business this morning to MissChu Holdings, a company controlled by the Mawson Group and Nahji Chu.
Rahul Goyal and Janna Robertson of Korda Mentha were appointed as administrators of MissChu in December last year.
The MissChu business operates six retail tuckshops and a catering business in New South Wales and at its height it was turning over $20 million a year.   
The Melbourne MissChu businesses were not affected by the voluntary administration and <a href="https://www.smartcompany.com.au/finance/45365-misschu-to-close-london-store-economic-data-points-to-slowing-chinese-economy-midday-roundup" target="_blank">the London store closed in January</a>.
Chu fought hard to save her business, <a href="https://www.smartcompany.com.au/finance/cashflow/45494-weneedchu-misschu-takes-to-social-media-in-attempt-to-keep-chain-afloat" target="_blank">launching a #weneedchu campaign</a> on social media in an attempt to keep her business afloat.
She has <a href="https://www.smartcompany.com.au/finance/45514-misschu-founder-nahji-chu-how-the-ato-cost-me-my-business" target="_blank">previously blamed the Australian Tax Office</a> for the collapse of MissChu, an allegation the <a href="https://www.smartcompany.com.au/finance/tax/45602-ato-hits-back-at-misschu-after-being-blamed-for-its-demise" target="_blank">ATO strongly disputed</a>.
The sale to Chu followed what KordaMentha described as an “extensive marketing campaign” where approximately 60 expressions of interest were received.
KordaMentha sought final offers from the preferred bidders and proceeded to accept the best offer that was able to be completed.
The settlement is due to take place in about 15 business days.
Goyal said in a statement that the administrators conducted an “extensive marketing campaign”.
“KordaMentha conducted a broad sale process, and we are pleased that the business can continue as a going concern and that jobs could be preserved,” he said.
Goyal said a scheduled report to creditors and second meeting of creditors will provide further information on the likely outcome for unsecured creditors and employees from the administration.
Sixty employees <a href="https://www.smartcompany.com.au/finance/45153-i-m-hurting-and-i-m-working-through-it-misschu-founder-says-the-restaurant-chain-will-trade-through-voluntary-administration" target="_blank">were terminated in January</a>. 
KordaMentha said all the New South Wales outlets would remain open.
SmartCompany contacted Chu for comment but did not receive a response prior to publication.
This article first appeared on <a href="https://www.smartcompany.com.au/" target="_blank">SmartCompany</a>.
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cwaters-YrtBR88nBe

Nahji Chu buys MissChu business back out of administration

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The Japanese retailer Uniqlo will lease stores in Sydney's Westfield Miranda and Parramatta malls.
Uniqlo opened last year in AMP Capital's expanded Macquarie Centre.
Its flagship store is in Emporium Melbourne.
Both stores will be just over 1,000 square metres.
Australia Uniqlo chief Shoichi Miyasaka said it had received a "very positive response" from the local market since its opened its first store in Sydney.
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jchancellor-FAypfDUnLy

Uniqlo set for Westfield's Miranda and Parramatta malls

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Iconic homewares retailer Homeart is set to be liquidated, with all 103 stores nationwide set to close and around 550 staff to lose their jobs.
The news comes after Daniel Austin Walley, Phil Carter and Mark Robinson of PPB Advisory <a href="https://www.smartcompany.com.au/finance/cashflow/45441-homeart-collapse-homeware-retailer-up-for-sale-after-being-placed-in-administration">were appointed administrators of Homeart on January 23</a>. Rumours of a possible liquidation had <a href="https://www.smartcompany.com.au/finance/cashflow/46203-homeart-liquidation-fears-grow-with-103-stores-and-550-jobs-on-the-line">circulated among staff in recent days</a>.
SmartCompany understands the only Homeart stores still trading in Victoria are the outlets at Broadmeadows and Northland, with all other stores closing and their staff made redundant as of Wednesday.
Staff were told by store and state managers that administrators PPB Advisory had not found any buyers for the chain and have decided to close all its stores in Australia.
Along with a redundancy letter, employees were given an information sheet from the Australian Securities and Investments Commission about insolvency.
“We advise that your store has ceased to trade and the company no longer requires your services under your contract of employment. Accordingly, your employment is hereby terminated as at the date of this letter,” the redundancy letter said.
“Your payment summary will be forwarded to you at the end of the financial year.”
One of the chain’s Victorian employees, who asked not to be named, told SmartCompany yesterday was her last day with the company.
“Just before the administration our pay was late, which we realise now was probably due to a lack of funds and we were receiving emails telling us to pre-bank as much as we could during the day so that our pay would go through,” the employee says.
“The staff at my store were told all of the stores in Victoria would be gone before Easter, so Broadmeadows and Northland don't have long left,” the employee says.
<a href="https://www.smartcompany.com.au/images/letter-1-2448.jpg" title="Bluewire Media"><img src="https://www.smartcompany.com.au/images/letter-1-2448.jpg" width="600"></a>
<a href="https://www.smartcompany.com.au/images/letter-2-2448.jpg" title="Bluewire Media"><img src="https://www.smartcompany.com.au/images/letter-2-2448.jpg" width="600"></a>
Click to enlarge.
The employee says high shopping centre rents may have contributed to the company’s financial woes.
“There have been lots of complaints about the rent [in my centre] from the GPT Group being too high,” the employee says.  
“Other shops in the centre have vacated like Equip and Rubi Shoes, now Homeart. The Gloria Jeans franchise near us is rumoured that it will be bought back soon because the store isn't performing well, the hairdressers have apparently got plans to leave the centre because the GPT Group put a competitor directly in front of their store.”
In early February, PPB Advisory closed Homeart’s 13 worst performing stores, with Walley at that point still holding out hope the administrators could find a buyer for the chain.
“While this is a very regrettable development, our priority at this time is to reshape Homeart into a sustainable retail business, which ultimately may help to protect the interests of the remaining employees. The closure of these underperforming stores is a necessary step to achieving this,” Walley said at the time.
“The remaining 100 stores will continue to operate on a business-as-usual basis whilst a review of the business continues. PPB Advisory is engaging with a number of potential purchasers to ensure we achieve the best possible outcome for the business.”
The iconic homewares chain was launched as Copperart by Amy Van Roest and her husband Aart in 1978 and its first store was located on Canterbury Road in the eastern Melbourne suburb of Blackburn.
Between 1999 and 2001, the company rebranded as Homeart to indicate it has shifted from selling copper and brass ornaments to a full range of cookware, manchester, electrical goods, toys and fitness products.
Before its collapse, Homeart had total revenues of $61,430,000 according to IbisWorld, with Van Roest continuing to serve as its managing director, and its headquarters having moved to New South Wales.
This article first appeared on <a href="https://www.smartcompany.com.au/" target="_blank">SmartCompany</a>.
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asadauskas-o9wSWMRiAW

All 103 remaining Homeart stores to close, 550 jobs lost

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As the RBA warns investors to watch their yields, the first Victorian mall sale has been recorded this year on a sharp passing yield of 5.4%.
Late 2014 sales were at yields of 6.3% and 6.9%.
CBRE research data noted the compression in yields correlates to the decline in the cost of debt, along with the falling 10 year bond rates.
CBRE's director of retail investments, Mark Wizel, tips a record sub-6% yield for sub-$100 million, non-discretionary retail centre transactions this year.
The latest sale was $13.3 million for the <a href="https://www.realcommercial.com.au/property-retail-vic-croydon+north-501463703" target="_blank">Maroondah Village Shopping Centre</a>, a neighbourhood shopping centre in Melbourne's outer north east.
The 3,092 square metre shopping centre is anchored by a 2,074 square metre Coles supermarket.
The property failed to sell when taken to market in 2012, when there were only three years remaining on the Coles lease.
Coles recently renewed its lease for another 10 years, plus options.
The net income was advised as $844,000 annually at June 2016.
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Coles lease helps secure 5.4% yield for Melbourne mall

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Australia’s top 20 online retailers: 2015

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An investor has sold the Metro Markets shopping centre in Biggera Waters on the Gold Coast to fund manager Intrasia Oxley RE for $23.05 million.
The 33 Hollywell Road mall is anchored by Drakes Super IGA and has 34 speciality stores and five offices.
There is a total of 6,980 square metres of lettable space.
The centre, which has potential for further high-density development, has an average lease length of 5.9 years with a net income of $2.757 million per year.
The deal was brokered by Will McVay at McVay Real Estate at 8.36 per cent yield.
Meanwhile Beerwah Marketplace &amp; Village, on the Sunshine Coast, has been announced for sale, by Jacob Swan and Sam Hatcher of JLL.
Recent JLL Research recorded a decline in the average South East Queensland vacancy rate (for specialty retail stores) from a high of 5.5% in Q4-2011 to just 3.9% in Q4-2014.
The decline in vacancy has been particularly notable in the sub-regional and neighbourhood shopping centre sectors. 
Average specialty rents have now stabilised in this sector.
Beerwah Marketplace &amp; Village is a triple anchored sub regional shopping centre comprising Woolworths Supermarket (3,059 square meters), IGA Supermarket (2,482 square meters) and Target (1,201 square meters), two mini majors, 34 specialty stores, one kiosk and a Caltex Woolworths petrol station with a total centre gross lettable area of 11,091 square meters, serviced by 448 at-grade car bays.
Expressions of Interest close 16 April.
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Instrasia Oxley spend $23 million on Gold Coast shopping centre

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New Zealand celebrity chef Martin Bosley will take on a role of executive head chef at a Melbourne CBD restaurant, following agreed terms on a new lease in Little Collins Street.
Bosely will head the new Imagine Lounge Bar &amp; Dining seafood speciality enterprise at the 450 square metre former Sotto Restaurant lease, located in the basement of the Causeway Hotel at 353 Little Collins Street, on a 10 year term. 
According to Savills Australia Victorian retail director, Michael Di Carl, CBD basement rents are in the order of $300 to $400 a square metre net.
Di Carlo said Bosley’s deputy of 11 years Shawn (Shamis) Roper would take the role as head chef.
He said Image Lounge represented a new venture for lessor, restaurateur Nindy Singh.
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Melbourne CBD basement rents at $300 a square metre plus

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GUEST OBSERVATION
It’s a tough environment in Australian retailing at the moment. The fact that two CEOs have left their roles mid-way through their contracts is clear evidence that our publicly quoted, traditional, Australian domiciled and single market retailers are struggling.
Australia’s high unemployment rate, more cautious shoppers who have greater choice with global and new physical entrants, is taking its toll. Not in any dramatic way, just in a grindingly constant loss of a few more shoppers and a few more dollars per store per day.
Lower prices, more choice, increasing labour and energy costs always play havoc with large, very high volume, very low profit margin companies. Retailers, airlines and courier companies all face the same issues. Lose a few customers, increase key large cost areas by a little and hey presto we’re trading dollars or making a loss.
For the avoidance of doubt, Tjeerd Jegen and <a href="https://www.smartcompany.com.au/leadership/45889-bernie-brookes-steps-down-as-myer-ceo">Bernie Brookes</a> are both very accomplished retailers. They’ve both had successful careers over a long period of time.
However, when you run a retailer that has exposure to only one country, and you are competing with larger, global store based, omni-channel and pure online retailers, you have very little wriggle room. You can’t draw on your expertise in the US or Europe, or your global buying power. You can’t balance off a poor month’s quarter in Brazil with a pleasing strong month in Spain. Your market dynamics are Australia, and that’s it. Have three poor quarters back to back and it hurts your business, your suppliers, employees and shareholders. And that’s what’s happening in Australian retail right now.
So what? Well as with our car factories, so with our retailers. We can’t compete all on our lonesome in Australia with global retailers. There will be more change in our major retailers over the coming 24 months. Changes in ownership, collaboration, sourcing and cost.
Oh and a lot of money invested in specialist retail technology in three key areas:  to lower labour costs, to improve shopper engagement and to improve online capabilities. 
I don’t know where and I don’t know when. But it is coming. Why? Because it’s already happening in Europe and the US. And that’s where our Australian retailers’ new competitors, and potential acquirers, are based.
Might be worth buying some real shares again. And being patient.
Kevin A Moore is a retail expert and the chairman of <a href="https://crossmark.com.au/">Crossmark Asia Pacific Holdings</a> and <a href="https://www.mirador.com.au/">Mirador Retail Technology</a>. He is also the founder of <a href="https://www.theroadtoretail.com/">TheRoadToRetail</a>.
This article first appeared on <a href="https://www.smartcompany.com.au/" target="_blank">SmartCompany</a>.
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KevinMoore-qqnNLh5v7N

Retail challenges on a small continent: Kevin Moore

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A crowd of more than 150 people were drawn to Melbourne CBD’s when local and offshore bidders competed for a Chinatown retail property.
With a $4 million opening bid, it was sold to a local investor for $5.01 million on a tight 3.87% yield through Clinton Baxter and Nick Peden of Savills.
The 30 minute auction saw 95 registered bids after more than 220 pre-auction enquiries. 
The 166 Russell Street property sold well in excess of price expectations. The vendors, Lai Meng Wong, Mui Chun Cheew and Kok Leong Lee, through Australiawide Melbourne Pty Ltd paid $1,927,000 in mid-2008. It sold at $237,500 in 1986. 
Located on a 136 square metre site, the four level, 295 square metre, retail building was sold with a five year lease to long standing tenant, Cats Hair and Beauty, at a net annual rental of $194,182. 
Clint Baxter said the tight yield set a new benchmark for CBD retail properties.
Investors were now fully prepared to accept below 4% yields for prime retail assets, he said.
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Savills Melbourne Chinatown retail auction affirms sub 4% yields

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<a href="https://www.smartcompany.com.au/leadership/management/42915-aldi-founder-karl-albrecht-dies-five-things-you-didn-t-know-about-this-supermarket-king">German supermarket chain Aldi</a> is increasing its stake in Australia’s grocery market, posing a long-term threat to the country’s traditional supermarket duopoly, according to research released last week.
The report by credit rating agency Moody’s shows an increasing acceptance of Aldi by Australian consumers and says the low-cost supermarket’s aggressive expansion will put pressure on Woolworths and Coles over time, whereas its growth had previously been at the expense of Metcash’s IGA supermarkets and other independent retailers.
Moody’s estimates Aldi holds 8% of the local market, whereas Woolworths has 37% and Coles has 26%. Metcash is estimated to have 11% of the market, with another 18% made up of “other” retailers.
“Aldi will definitely increase its market share in Australia because it is opening stores at a faster rate,” Ian Chitterer, Moody’s Investors Service vice president and senior analyst, told SmartCompany.
Aldi recently announced a $700 million expansion into South Australia and Western Australia, which will see it add a further 120 to130 new stores to its 300-store strong network over the next five years. An Australian spokesperson for the supermarket confirmed Aldi plans to open up to 25 stores per year on the Eastern Australian seaboard.
<div>"Aldi Australia is focused on growing the business sustainably and responsibly in line with consumer demand for quality products at permanently low prices," said thespokesperson.
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"As a discount retailer, Aldi offers a very different proposition to the major supermarket chains and does not position the business in direct competition to the duopoly."
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But Chitterer says Aldi’s increasing market share is still most likely to come from Metcash and the independents over the next two years, as Coles and Woolworths continue to miss an opportunity to take a further stake from the smaller players.
“The market share they’ve gained, that is market share Coles or Woolworths could have taken,” he says.
The report comes as price-cutting continues to heat up in the Australian grocery market, with Woolworths signalling it will keep pushing forward with its plans to lower prices at the checkout to shift perceptions that it is the more expensive option of the two major supermarkets.
"We want to make sure that we remain the market-leading food offer in Australia and to do that we've got to have the best prices, we've got have the best in-store service and we've got to have the best stores," Woolworths chief executive Grant O'Brien <a href="https://www.smh.com.au/business/retail/woolworths-flags-price-cuts-20150227-13qv66#ixzz3TqA987u0">previously told Fairfax</a>.
Chitterer says Aldi will likely be closely watching the pricing competition between the two major players.
“I would expect Aldi is watching the pricing from the two companies and will respond accordingly,” he says.
Peter Strong, executive director of the Council of Small Business of Australia, welcomed the potential for Aldi to take some market share away from Coles and Woolworths, but says he still has concerns about the lengths the supermarket giants will go to protect their profit margins.
“The fear is Coles and Woolies will take profit from their suppliers,” Strong says.
Strong says Coles and Woolworths are “two of the most profitable supermarkets in the world” and there is little doubt their profit margins will begin to drop as competition in the space heats up.
But he says if suppliers are squeezed further in the retailers’ bids to maintain profit, the recently introduced voluntary <a href="https://www.smartcompany.com.au/growth/45900-fast-lane-food-and-grocery-code-of-conduct-falls-short">Food and Grocery Code of Conduct</a> will “need to become mandatory”.
In <a href="https://www.smh.com.au/business/retail/accc-chairman-rod-sims-says-woolworths-has-fat-margins-as-suppliers-fear-profits-shrinkage-20150308-13xekz#ixzz3TqDABjuo">an interview with Fairfax,</a> Australian Competition and Consumer Commission chairman Rod Sims said this week he believes Woolworths has one of the highest profit margins of any large supermarket chain in the world.
SmartCompany contacted Woolworths but did not receive a response prior to publication. 
This article first appeared on <a href="https://www.smartcompany.com.au/" target="_blank">SmartCompany</a>.
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