National diversified developer Fortis has officially launched Crest &amp; Walker, its latest Brisbane apartment development, with construction now underway on the 20-storey Newstead project.

Award-winning builder BINAH has commenced construction on the Bureau^Proberts-designed building, which will deliver a limited collection of 65 two and three-bedroom apartments on Kyabra Street.

[smartcode_project:default project_id=145922 project_image_fid=373556]

The project marks Fortis' fourth active residential development in Brisbane, following River House, which is nearing completion, alongside projects in New Farm and Hamilton as the national developer continues to expand its South East Queensland pipeline.

Fortis General Manager – Development Queensland Dan Boman said Crest &amp; Walker reflects the developer's long-term commitment to delivering design-led residential projects in Brisbane's established inner-city suburbs.

"We're proud to be strengthening our presence in Brisbane with Crest &amp; Walker, particularly in such a sought-after lifestyle destination as Newstead," Boman said.

"Every Fortis project is shaped by its context, and we approach each one with the respect and care it deserves.

"Our focus is always on creating places that feel connected to their neighbourhood and elevate the everyday experience for residents. Newstead continues to evolve as one of Brisbane's most sought-after urban communities, and Crest &amp; Walker reflects our ambition to contribute meaningfully to that story."

[smartcode_project:default project_id=145922 project_image_fid=373559]

Positioned between Gasworks Plaza and James Street, <a href="https://www.apartments.com.au/new-apartments/crest-walker-newstead-12-kyabra-street-newstead-qld-4006">Crest &amp; Walker</a> has been designed as a boutique residential address offering privacy and generous living spaces within one of Brisbane's most established lifestyle precincts.

The building features a contemporary brick podium softened by integrated landscaping, while the upper levels are characterised by restrained architecture and enduring materiality. Interiors have been designed to maximise natural light, acoustic performance and long-term liveability.

[smartcode_project:default project_id=145922 project_image_fid=373583]

Residences comprise spacious two and three-bedroom floorplans, with two-bedroom apartments priced from $1.55 million and three-bedroom, half-floor residences from $3.95 million.

Residents will have access to a wellness-focused rooftop featuring a swimming pool, sauna, steam room, landscaped dining spaces and outdoor lounge areas overlooking Newstead and the Brisbane CBD.

[smartcode_project:default project_id=145922 project_image_fid=373571]

Sales are being managed by Slaite Projects, with Fortis expecting strong demand from owner-occupiers seeking a high-quality, design-focused apartment in one of Brisbane's most tightly held inner-city suburbs.

Completion of Crest &amp; Walker is slated for late 2028.

[smartcode_project_cta:default project_id=145922]

Joel Robinson

Fortis expands Brisbane pipeline with launch of Crest & Walker in Newstead

The enormity of delivering a true skyscraper in Australia's new development market is often overlooked.

It has taken the best part of a decade since plans for Chevron One were first unveiled, but the 52-storey tower is now complete, with residents collecting their keys and moving into what has become one of the Gold Coast's most recognisable new landmarks.

Rising 127 metres above Chevron Island, Chevron One stands almost twice as high as any other building on the island. Its scale places it alongside the trio of towers at Jewel, arguably the last truly significant addition to the central Gold Coast skyline when they were completed around six years ago.

While there are several developments underway around a similar height to Chevron One, they are more concentrated within clusters of the highest towers in the city. The fact Chevron One sits within a developing precinct, looking back at the other high-rise developments in Surfers Paradise and Broadbeach, makes it a different proposition altogether. It will certainly become a reference point on the Gold Coast skyline.

[smartcode_project:default project_id=6515 project_image_fid=68833]

Developer Bensons Property Group is behind the 52-storey tower, which has just shy of 250 apartments, along with an exhaustive list of resident amenity spread across what is the largest development site ever assembled on Chevron Island.

The tower has been the talk of the town for years, says Ray White Projects Gold Coast agent Caitlin Rosenboom, who is selling the remaining apartments.

"People have been watching Chevron One go up for years," Rosenboom says, adding that many prospective buyers have been surprised by the scale of the views once they step inside.

"It's only when they walk through a completed apartment that they truly understand the position of the building," Rosenboom says.

"The views are jaw-dropping. Whether you're looking east over the ocean, across Surfers Paradise, along the river systems or out to the hinterland, every level offers something different but equally impressive."

[smartcode_project:default project_id=6515 project_image_fid=360215]

One of Chevron One's defining advantages is its location on the eastern side of Chevron Island on Stanhill Drive, a position which protects the views forever.

"There's only one row of houses between Chevron One and the water, and the height restrictions along the river means views from Chevron One can never be built out,"&nbsp;Rosenboom says.

While new apartment developments continue to emerge across the Gold Coast, Rosenboom says opportunities to secure a completed apartment with this level of outlook are becoming increasingly rare.

"The size of the site is something that would be incredibly difficult to replicate today," she says.

"That's allowed Chevron One to deliver the sort of amenity, open space and resident facilities that very few projects can offer. There are not many completed apartment buildings on the Gold Coast right now that can compete with the combination of scale, quality and amenity."

[smartcode_project:default project_id=6515 project_image_fid=68839]

There's around 2,000 sqm of amenity solely for the use of residents of Chevron One. Club One features a uniquely shaped swimming pool that mirrors the footprint of the building itself, set within a extensively landscaped gardens. There's also an indoor pool and spa, a fully equipped gym with a Pilates room, a yoga garden, a bookable private dining area and lounge that can host up to 30 people, and a 24-hour concierge service.

As for the buyers, Rosenboom is fielding enquiry from everywhere: Sydneysiders and Melburnians looking at the new and off-the-plan market following the changes in the Federal Budget, as well as those looking to relocate, through to South East Queenslanders seeking either a permanent home or a weekender bolthole.

"The Gold Coast lifestyle continues to resonate with people relocating from the southern states, and when they see the views and the quality of what's been delivered at Chevron One, it becomes very easy for them to understand the appeal," Rosenboom says.

A diverse mix of one, two and three-bedroom apartments remain available, with each offering "something a little different", be it the orientation and views, configuration, or level, to suit a wide variety of buyers.

The remaining apartments are ready to inspect in person, by appointment.

[smartcode_project_cta:default project_id=6515]

A decade in the making: Residents to move into Chevron One as construction wraps up

A general rule of thumb in new apartment developments is that the penthouses get the rooftop.

It's a formula that's become commonplace across Australia's apartment market. Residents might have access to a pool, gym or barbecue facilities on a dedicated lower level, but the most desirable outdoor spaces are typically reserved for the highest-priced homes at the top of the building.

<a href="https://www.apartments.com.au/developers/sherpa-property-group">Sherpa Property Group</a> has taken the opposite approach.

Rather than dedicating the rooftop to a handful of buyers, the Gold Coast developer has made it the centrepiece of its Flourish collection, creating expansive shared spaces from the best vantage point in the building.

The philosophy has reached its most ambitious expression at <a href="https://www.apartments.com.au/new-apartments/flourish-soleira-palm-beach-1150-1160-gold-coast-highway-palm-beach-qld-4221">Flourish Soleira</a> in Palm Beach, where two rooftop precincts connected by a skybridge will deliver one of the most extensive lifestyle offerings seen in a residential apartment project on the Gold Coast.

[smartcode_project:default project_id=150017 project_image_fid=374053]

"We're seeing a clear move toward developments that offer more than just an apartment," Sherpa Group founder Christie Leet said.

"People want spaces that support how they actually live, whether that's working from home, staying active, or spending time with family and friends.

"That's where amenity becomes critical. It's not just about what's included, but how those spaces are designed to be used every day."

[smartcode_project:default project_id=150017 project_image_fid=374052]

The breadth of amenity has already attracted buyers across multiple demographics. Younger first home buyers have been drawn to Soleira's one-bedroom apartments, a product rarely delivered in Palm Beach, while families have responded to practical inclusions such as the shallow children's pool adjoining the main lap pool and the extensive communal recreation areas.

Instead of a single rooftop, Soleira delivers two distinct lifestyle zones.

[smartcode_project:default project_id=150017 project_image_fid=372547]

The southern rooftop has been dedicated to wellness, featuring a gym, yoga and Pilates studio, work-from-home facilities, a wellness centre, spa, and hot and cold plunge pools.

The northern rooftop focuses on recreation and entertaining, incorporating a heated resort-style pool, private dining rooms, pizza ovens, barbecues, a golf simulator, children's recreation areas, and what is expected to be the Gold Coast's first rooftop basketball court, which will also double as a squash court.

[smartcode_project:default project_id=150017 project_image_fid=374054]

Beyond the rooftops, Soleira will introduce 1,500 sqm of curated retail beneath the towers, creating one of Palm Beach's first genuinely mixed-use lifestyle precincts where cafés, restaurants and convenience retail become part of residents' everyday lives.

Sherpa has also retained management rights across the development, allowing it to oversee the long-term operation of the building through a 24-hour concierge model. The developer is also exploring additional revenue streams within the precinct aimed at helping offset ongoing body corporate costs for residents.

[smartcode_project:default project_id=150017 project_image_fid=370962]

While Soleira is the largest project Sherpa has delivered, the rooftop-first philosophy has been evolving for several years.

It began with <a href="https://www.apartments.com.au/new-apartments/amargo-6-12-sixth-avenue-palm-beach-qld-4221">Flourish Amargo</a>, the first project released under the Flourish brand. Rather than competing at the ultra-luxury end of the market with oversized half-floor and full-floor residences, Sherpa focused on creating lifestyle-driven apartments supported by resort-style shared spaces.

Amargo introduced more than 800 sqm of rooftop amenity, combining wellness facilities, heated pools, entertaining areas, cabanas, pizza ovens and private dining spaces into what was designed as an extension of residents' homes rather than a facility used only occasionally.

[smartcode_project:default project_id=146527 project_image_fid=366550]

That approach continued with Flourish Oasis, where the same amenity-led philosophy was refined into a more boutique development. Strong demand from Sherpa's growing VIP database saw much of the project sold before it reached the broader market, reinforcing buyer appetite for apartment communities centred around shared lifestyle experiences.

Flourish Amargo is slated for completion mid-way-through next year, with Oasis to be delivered by late 2027. Flourish Soleira is expected to complete in 2030.

[smartcode_project_cta:default project_id=150017]

Sherpa takes amenity to the sky as Flourish Soleira captures booming Palm Beach demand

As apartment living continues to evolve across Sydney's growth corridors, the quality and distribution of shared spaces is increasingly shaping how residents experience home. Rather than functioning as add-ons, amenities are being embedded into the daily rhythm of a building, supporting everything from quiet retreat to social interaction, often within a single vertical community.

At <a href="https://www.apartments.com.au/new-apartments/aeris-melrose-park-nursery-street-melrose-park-nsw-2114">Aeris</a> in Melrose Park, this approach is resolved through a layered amenity offering that unfolds from ground level through to its upper podium. Developed by <a href="https://www.apartments.com.au/developers/sekisui-house-australia">Sekisui House Australia</a> in partnership with Hankyu Hanshin Properties, the project introduces 468 apartments across two towers and a mid-rise building, positioned at the highest point of the broader masterplan.

[smartcode_project:default project_id=426 project_image_fid=359199]

The amenity experience begins at street level, where two courtyards sit within a landscaped setting that connects residents to the wider network of parks and green spaces. These green spaces are not isolated pockets but part of a wider pedestrian network that links Aeris to the surrounding <a href="https://www.apartments.com.au/developments/melrose-park-nsw-2114">Melrose Park</a> precinct, including Central Park, future schools, and the Town Centre opening in July 2026. The result is a transition that moves from public to private without abrupt boundaries, allowing residents to pass through shaded, tree-lined environments before reaching the building itself.

Moving upward, the focus shifts to the level five podium, where the primary communal facilities are concentrated. This space brings together a 16-metre swimming pool, outdoor seating areas, and a communal BBQ zone arranged to take advantage of elevated outlooks. Seating is positioned beneath pergolas, creating pockets of shade that extend the usability of the space throughout the day. The pool edge aligns with views toward the wider district, reinforcing the sense of elevation that defines the project’s positioning.

In the adjacent building, this is complemented by quieter, more contemplative spaces, including an outdoor cinema set within the same level. Positioned to operate primarily in the evening, it introduces a different tempo to the shared environment, shifting from daytime activity to after-hours use without requiring separate zones.

[smartcode_project:default project_id=426 project_image_fid=360299]

The podium also accommodates an intimate private resident gym. Located on the lower levels, it gives residents convenient access to fitness facilities without leaving the building.

Above, the elevated podium sky deck extends the amenity offering, providing additional open-air spaces with elevated outlooks across the surrounding landscape. While more restrained in program, this upper level reinforces the project’s vertical progression, from ground-level greenery to elevated outlook, allowing residents to move between distinct spatial conditions within a single address.

This distribution of amenities reflects a deliberate response to how residents use space across the day. Sekisui House Australia Sales and Marketing Director Peter Kalaf points to the role these shared areas play in shaping buyer demand. Aeris has been conceived as more than a collection of apartments, with the podium pool, gym and outdoor cinema forming part of a broader lifestyle offering that extends the home beyond each individual residence.

[smartcode_project:default project_id=426 project_image_fid=360300]

What distinguishes Aeris is not the inclusion of these elements individually, but how they are arranged in relation to one another. Active, social, and passive spaces are layered vertically rather than separated, allowing residents to choose between them without leaving the building or moving far from their apartment. This proximity supports both routine use, such as a morning swim or evening workout, and more occasional gatherings, whether around the BBQ area or within the cinema setting.

The amenity design also sits within a broader framework of connectivity across Melrose Park. The Melrose Park Town Centre, anchored by Coles and Dan Murphys, features a mix of retail, dining, health and lifestyle offerings, bringing everyday convenience closer to residents. By the end of the year, more than five hectares of parks and open space, equivalent to around seven football fields of green space on residents' doorstep, will further enhance the precinct, allowing the internal facilities at Aeris to operate as an extension of the wider neighbourhood rather than a substitute for it.

Construction at Aeris continues to gather momentum, with ground floor slabs expected to be completed in late 2026 before the first sections of the buildings begin to rise above ground.

[smartcode_project_cta:default project_id=426]

Elevated amenity anchors daily life at Aeris, Melrose Park

Repeat buyers are one of the strongest measures of confidence in any apartment development.

At <a href="https://www.apartments.com.au/new-apartments/era-newcastle-west-124-126-bull-street-newcastle-west-nsw-2302">ERA</a> in Newcastle West, some purchasers are returning to <a href="https://www.apartments.com.au/developers/gwh">GWH</a> after living at the developer's One Apartments. Their decision to purchase again was driven by the quality of life they found after moving into their first GWH home.

Keith Wilton had spent years living in a house in East Maitland before deciding it was time for a change. Apartment living had always been on his radar, but he was selective about what he wanted.

<iframe allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" allowfullscreen="" frameborder="0" height="315" referrerpolicy="strict-origin-when-cross-origin" src="https://www.youtube.com/embed/FH_1EzB-1vs?si=XScVlP1ERsTDJoME" title="YouTube video player" width="560"></iframe>

"I had some boxes I wanted to tick," he says.

Keith points to the open-plan design, generous outdoor areas and considered inclusions as key reasons One Apartments worked for him.

“One of those things was a nice indoor open plan area, but also I wanted a nice outdoor open area that I could entertain on in summer or Christmases or birthdays,” he says.

He also found value in the smaller details, from integrated appliances to shared resident spaces including the pool, cinema and rooftop areas.

[smartcode_project:default project_id=135096 project_image_fid=356818]

After comparing several developments, he chose One Apartments because of GWH's longstanding local reputation and his own experience working with the developer on a commercial project more than a decade earlier.

"I knew that they were local, that the quality of the build was going to be up there. I'd looked at other apartment complexes around and close by, and I just knew that here was a better decision location wise."

Today, Keith says the move has completely changed how he experiences Newcastle.

"I enjoy living in this location because it's more of a lifestyle change. That Newcastle city living where you can walk to restaurants and bars and even beaches and parks and even shopping across the road."

[smartcode_project:default project_id=135096 project_image_fid=356828]

Beyond the location, he says it's the sense of community that has surprised him most.

"Everyone loves living here because they chose to live here, but everyone looks out for each other. It's a real great community feel here."

For Aimee and Lyle Goodman, the journey started almost by chance.

<iframe allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" allowfullscreen="" frameborder="0" height="315" referrerpolicy="strict-origin-when-cross-origin" src="https://www.youtube.com/embed/tsioMLcnjas?si=zq-ys3JuWpfa5hFv" title="YouTube video player" width="560"></iframe>

The couple happened to be having coffee in Newcastle when they noticed the site where One Apartments was about to begin construction.

"We were aware GWH was planning a development," Aimee says. "We made one phone call and things moved pretty quickly after that."

As busy business owners, they initially thought apartment living would simply reduce the maintenance that came with larger homes. Instead, it fundamentally changed how they spent time together.

"We actually catch up more as a family now," Aimee says.

"We've had homes with big yards and lots of space, but everyone ended up in different rooms. Here we'll have dinner together, the kids can play, and we spend far more quality time together."

[smartcode_project:default project_id=135096 project_image_fid=356829]

Lyle says their confidence came from GWH's reputation within Newcastle's building industry.

"I know people who've worked across different apartment projects, and whenever GWH came up the feedback was always the same. They're rock solid. They're quality."

That confidence only grew throughout the buying process.

"One of the things that really impressed us with GWH was the whole process, was the communication," Lyle says. "It was consistent, it was regular, there was no problem if we had some weird questions, there was no problems in getting answers."

[smartcode_project:default project_id=135096 project_image_fid=351104]

Aimee says one moment stood out.

"The project actually finished on time. We realised we needed to hurry up and sell our house because everything was happening exactly when they said it would."

The positive experience at One Apartments ultimately gave all three buyers the confidence to purchase again with GWH, this time at ERA.

Their confidence reflects what many buyers are seeking in today's apartment market. Location remains important, but so too does certainty around delivery, quality and long-term liveability.

[smartcode_project:default project_id=135096 project_image_fid=356822]

ERA builds on those foundations with 280 one, two and three-bedroom apartments across two landmark towers in <a href="https://www.apartments.com.au/developments/newcastle-west-nsw-2302">Newcastle West</a>.&nbsp;

Designed by <a href="https://www.apartments.com.au/architects/fk-australia">Fender Katsalidis</a>, the project will include more than 2,000 square metres of resident amenities, including a resort-style pool, gym, sauna, private cinema and rooftop entertaining spaces overlooking the harbour and coastline.&nbsp;

The development is also within walking distance of the Newcastle Interchange, Honeysuckle, Darby Street, the harbour foreshore, restaurants, retail and the city’s beaches, continuing the walkable lifestyle that existing GWH buyers say has transformed how they live.

[smartcode_project:default project_id=135096 project_image_fid=356826]

For Keith, the appeal remains straightforward.

"You feel at home even before you've moved into your home."

For Aimee, the change is measured in time.

“I just felt like I had more time,” she says.

[smartcode_project:default project_id=135096 project_image_fid=351102]

Construction at ERA is now underway, with more than half of the residences already sold and limited two and three-bedroom apartments remaining in the East Tower release. Priced from $980,000 for two-bedroom residences and $1.46 million for three-bedroom residences, buyers can secure an apartment with a 10 per cent deposit, with premium homes offering ocean views from Level 8 and harbour views from Level 10.

ERA is also backed by Resilience Insurance's 10-year Latent Defects Insurance policy, providing protection against structural or waterproofing defects for 10 years after completion. The project is anticipated to be completed in early 2028.

[smartcode_project_cta:default project_id=135096]

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

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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