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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EXPERT OBSERVER
Retail turnover missed expectations of a 0.3 per cent increase in October, instead recording a decline (although the result rounded to 0.0 per cent, after an increase of just 0.2 per cent in September). 
<img src="https://1.bp.blogspot.com/-fRlgDvETnfo/XejDNMrF7SI/AAAAAAAAzM4/WdfpBKe6ADcoogB09uIFwHT1xSL6eyW7wCNcBGAsYHQ/s640/RT1.jpg" width="640" height="352" data-original-height="815" data-original-width="1481">
The annual turnover increase continued to decline to a 2-year low of just 2.1 per cent.
<img src="https://1.bp.blogspot.com/-owUayf-hqCY/XejDMgYWAiI/AAAAAAAAzMw/yePFAgvBZn4gsu6pVNgHFLv0eGDSuVrBQCNcBGAsYHQ/s640/RT2.jpg" width="640" height="374" data-original-height="811" data-original-width="1386">
The monthly decline was driven by clothing and footwear (-0.8 per cent), department stores (-0.8 per cent), and household goods (-0.2 per cent). 
<img src="https://1.bp.blogspot.com/-poYDqyXkXWk/XejDMwanRrI/AAAAAAAAzM0/s0QdBarf6ecabeAK-Cpx53yWn3DnvjE0ACNcBGAsYHQ/s640/RT3.jpg" width="640" height="360" data-original-height="791" data-original-width="1403">
At the state level there were monthly declines in New South Wales and Victoria, as well as in South Australia, perhaps in line with the asymmetric wealth effect thesis. 
<img src="https://1.bp.blogspot.com/-I7RSCOh_YSg/XejDNa4522I/AAAAAAAAzM8/fFi9dFRtJOAW0QML8-TaElQCA8I2PLCvACNcBGAsYHQ/s640/RT4.jpg" width="640" height="360" data-original-height="785" data-original-width="1394">
For excellent analysis of online retail sales from data king James Foster, see here:
'Meanwhile, online retail spending lifted by a healthy 8.5% in October to $1.930bn according to the ABS's estimates to be up by 13.9% over the year. 
At 6.5% of total retail turnover, the online segment seems poised to rise to a record high next month on the back of Black Friday sales promotions.'
Overall, though, this was frankly another terrible result, with the only potential (if dubious) 'silver lining' argument being that some savings were being held back for Black Friday and Xmas shopping. 
Occam's Razor, but...
This calendar year began with the RBA still talking of the next move in interest rates being up, despite years of below-target inflation.
The experiment could have worked, but now that the central bank forecasts are being shredded the baying mob is growing increasingly restless.
Recent national accounts figures showed a healthy rise in government spending, but private demand sinking into the abyss. 
PETE WARGENT is the co-founder of AllenWargent property buyers (London, Sydney) and a best-selling author and <a href="https://petewargent.blogspot.com/" target="_blank">blogger</a>. 
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pwargent-M4siyDbqQY

Retail turnover declines are woeful: Pete Wargent

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A retail investment in Sydney CBD has been listed for sale through Savills. 
The property at 265 Castlereagh Street is currently leased to an established café operator with new six year lease until 2025 with 4% annual increases.
The 74 square metre space includes a fully fitted commercial kitchen and cool room.
<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/2019/12/20/syd%201.jpg" alt="">
It has been listed by Andy Hu and Jordan Lee from Savills Sydney CBD. 
The property is within close proximity to World Square, Downing Centre, Museum, Town Hall Station and the new Pitt Street Metro Station
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j.ballantyne1990-6AQqhLzZaK

Sydney CBD café listed through Savills 

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The site of Surry Hills restaurant FloCafe has sold at auction.
It traded for $1.8 million.
Nik Simonovic and Dillon Frain of Burgess Rawson marketed the storefront.
The property, at 481 Crown street, is currently fitted out as a 78 cover (20 external) restaurant called Flocafe.
It is just a three minute walk from Sydney's CBD.
It previously traded in 2005, when it sold for $1,155,000.
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wdavis-8cCN98p7xp

Crown Street, Sydney restaurant sold for $1.8 million

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The Canberra retail market has continued to display stable sales and leasing activity throughout 2019 with early indications of market strengthening taking place, underpinned by the recent interest rate reduction by the Reserve Bank, low unemployment, vacancy levels below the ten year average and continued population growth, according to the latest retail report from Herron Todd White.
The property valuation firm found retail sale statistics issued in August by the ABS indicated a growth rate of 1.9 per cent (above the national average) in seasonally adjusted terms for the nation’s capital.
It should be noted that while many aspects of the retail market appear positive, a continued divergence between new and old offerings has led to an increased disparity in both demand and rental results.
Non-centrally located and dated stock, often in older local shopping precincts, has seen a spike in vacancies and a softening of rental expectations.
Increases to municipal and council rates continue to be a major concern in the Canberra property sector with these increases often outweighing CPI rental increases.
HTW valuers said, "the market has responded, with local agents indicating that more net leases and increases to recoverable outgoings are being negotiated."
"The outlook for the Canberra retail market is for slow to medium take-up levels to continue over the next 12 months, with a need for incentives to continue," they concluded.
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Canberra retail market appears positive: HTW Retail

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A 2018 study by Herron Todd White (commissioned by the Property Council of Australia) found that there was about 220,000 square metres of general retail space in the greater Darwin area.
They found that this figure includes properties varying from neighbourhood style centres of two to three shops through to regional retail centres such as Casuarina Square. Of this 220,000 square metres, about 68,000 square metres (or 30 per cent) has come on line in the past two to three years.
HTW valuers said, "unfortunately, this large increase in supply has come on line at a time when Darwin’s population is experiencing a significant decline, with the weaker economy seeing many Darwinites heading interstate in search of work."
"What we have seen has been a drift of businesses to these newer centres, attracted by strong tenant incentives and a desire to follow the ant trail of shoppers."
"As a result of this displacement, vacancies have sprung up, particularly in Darwin CBD and Palmerston CBD. It is difficult to see trading conditions improving in these locations until the population begins to increase," they added.
It is expected that there will be limited rental and capital growth opportunities in Darwin retail centres, especially secondary centres without a major anchor, for the next three to five years, HTW forecast.
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Darwin retail sector suffers from declining population: HTW Retail

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Two Campbell Parade shopfronts currently operating as a single business are being offered for sale via public auction.
Situated at <a href="https://www.realcommercial.com.au/for-sale/property-shop-7-8-152-campbell-pde-bondi-beach-nsw-2026-503386546" target="_blank">Shop 7 &amp; 8 152 Campbell Parade</a>, the property is currently leased for 5 + 5 years to Bloody Mary's Sydney.
Featuring both a food and liquor license, the shop offering has a 16 metre frontage.
It has a shop area of 85 sqm and the current gross income is $190,550 annually.
The listing noted that has the potential to be subdivided into 2 shops.
Raine and Horne's Michael Buium is marketing the holding.
The auction takes place December 11.
 
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Doublefronted Campbell parade shop set for auction

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Retail leasing in Toowoomba has been relatively subdued in 2019 with vacancy rates within the CBD increasing, according to the latest retail report from valuation firm Herron Todd White.
The property valuation firm found that this is likely due to the completion of the QIC Grand Central Shopping Centre redevelopment in 2018. The centre doubled in size to approximately 90,000 square metres, introducing new discount department stores, supermarket and approximately 160 speciality stores, with the latter considered to have drawn businesses from the CBD.
Rentals appear to have been relatively static, although some lease incentives are available for long term commitments.
The historically low interest rates have resulted in a strong demand for retail properties by investors, however the lack of supply of quality, fully leased properties has limited the number of investment sales and has resulted in a firming of net yields over the past two years.
The report noted, "despite strong investor demand there have been no major retail sales in Toowoomba in 2019."
"This is due to a lack of supply with most property owners electing to hold on to assets with good lease covenants and secure cash flow," it added.
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Toowoomba retail market remains subdued in 2019: HTW Retail

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Overall the Wollongong retail market is headed towards finishing the year as predicted, flat, according to the latest retail report from valuation firm Herron Todd White.
The property valuation firm found that the first half of the year was particularly challenging for retailers due in large part to a stagnant housing market however some hope for a recovery has been provided for the second half of the year and moving into 2020 as the housing market recovers, likely being fuelled by the three interest rate cuts.
It is hoped that these interest rate cuts will stimulate spending in the retail sector.
The report authors stated, "leasing conditions have continued a long term trend of being static given above averagevacancy rates and generally soft demand, while supply continues to be introduced to the market given the large number of mixed-use projects completed in the Wollongong CBD over recent times and with additional projects also being developed at present."
"There is no upward pressure being placed on rental rates with conditions generally favouring tenants," they concluded.
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Hope remains for a Wollongong retail recovery: HTW Retail

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A two-level freehold within Toorak Village, one of Melbourne’s most tightly held retail shopping strips, has hit the market. 
The property will be auctioned November 29.
Located at 472 Toorak Road, the property comprises a 110 square metre building with ground floor shop front, commercial kitchen and rear courtyard.
The first floor, which can be separately accessed from the rear, includes an open-plan layout with a kitchenette and bathroom. 
The 139 square metre site zoned Commercial 1 has 4.6 metres frontage to Toorak Road and rear laneway access to a lock up garage with parking.
There is also a permit for an additional level at the rear.  
Commercial 1 zoning aims to create vibrant mixed use commercial centres for retail, office, business, entertainment, community and residential uses.
The property will be offered with vacant possession.
It is situated directly opposite the Vicland Property Group’s proposed $600 million commercial re-development of Village Way, which is set to house circa 12,000 square metres of office space and a ground floor Coles supermarket.
Teska Carson’s Luke Bisset and Jack Kelliher have the listing. 
"This property offers excellent investment credentials including a highly regarded retail and commercial location within Melbourne’s wealthiest suburb, with vacant possession and first rate access and exposure via Toorak Road frontage and a rear laneway," Bisset said.
Toorak Village has more than 270 shops and businesses including fashion boutiques, cafes, fine dining, and highly regarded medical and professional services.
It is well serviced by public transport facilities including Toorak and South Yarra railway stations, trams and major arterial routes.
Kelliher said the local retail sector thrived on the back of a predominantly young and affluent demographic.
He said the locality had been the beneficiary of major redevelopment over recent years including more than 3000 apartments, either currently under construction or recently completed. 
It is being offered vacant possession.
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Vacant two-level Toorak Village freehold on the market

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Sydney's Pitt Street Mall has held on to its position as the seventh most expensive retail strip in the world in Cushman &amp; Wakefield's Main Streets Across the World report.
Retail rents on the exclusive row of shops have increased nearly 18 per cent over the year to $16,500 per sqm.
The rents grew more than any other location in the top 10 ranked locations. The likes of Zara, Oroton and Carla Zampatti are located in the pricey precinct.
To enlarge, <a href="https://www.propertyobserver.com.au/images/2019/11/13/world%20wide%20retail%20strips.jpg" target="_blank">click here</a>.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2019/11/13/world%20wide%20retail%20strips.jpg" alt="">
Pitt Street has recently welcomed luxury skin care giant Aesop, who have introducted an amphitheatre for customers within their new global flagship store which set a new record for retail rents on Pitt Street Mall. 
Matt Hudson, the national director of retail leasing at Cushman &amp; Wakefield Australia and New Zealand said rents in Sydney’s retail core have reached new highs as retailers focus on evolving the customer experience and trialling new store formats to attract shoppers. 
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Hong Kong's Causeway Bay hung on to top spot as the world's most expensive with average rents of $42,065 sqm.
It's the second year in a row Causeway Bay has claimed top spot, following a five year dominance by New York's Upper 5th Avenue which has rents at $34,399 per sqm.
London's New Bond Street makes the top three, some way off, at $26,281 per sqm.
To enlarge, <a href="https://www.propertyobserver.com.au/images/2019/11/13/Asia%20Pacific%20retail%20strips.jpg" target="_blank">click here</a>.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2019/11/13/Asia%20Pacific%20retail%20strips.jpg" alt="">
Pitt Street Mall ranked third in the Asia Pacific list of most expensive retail strips, while Melbourne's Bourke Street Mall hung on to seventh and Brisbane's Queen Street Mall made it in to the top 10.
Bourke Street Mall sees an average $7,000 per sqm and Queen Street Mall $4,500 per sqm.
Cushman &amp; Wakefield's report suggested Australia's retail market is currently favourable to occupiers and landlords that are more predisposed to capital contributions and rent-free periods.
"As a result, rents in some locations have fallen, particularly in CBD strip retail areas," the report advised.
"In contrast, rents on some of the higher footfall pitches have increased, including Sydney’s George Street which will benefit from the new light rail project.
"Online sales continue to take an increasing share of the market and, with a degree of uncertainty about the medium-term outlook, new entrant retailers are asking for break clauses and/or more flexible terms, while many small businesses are also opting for more temporary pop up activations.
"However, there is strong demand for flagship stores and double height frontages and the concept of ‘click and collect’ mixed with retail experience is growing."
 
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