South East Queensland developer&nbsp;<a href="https://www.apartments.com.au/developers/gardner-vaughan-group">Gardner Vaughan Group</a>’s entry into the Gold Coast apartment market has progressed from pipeline to market, with its Chevron Island project Bronze on Chevron now formally available to purchase ahead of a planned 2029 completion.

The 119-apartment development on Mawarra Street marks the Brisbane-headquartered builder-developer’s first residential play in the Gold Coast, following its expansion south from Brisbane and the Sunshine Coast.

<a href="https://www.apartments.com.au/new-apartments/bronze-on-chevron-8-mawarra-street-surfers-paradise-qld-4217">Bronze on Chevron</a> comprises a mix of two-, three- and four-bedroom residences, with pricing starting from just over $1.5 million. The project is being delivered under Gardner Vaughan’s fully integrated model, with the group acting as both developer and builder, a structure it has consistently applied across its South East Queensland portfolio.

[smartcode_project:default project_id=107520 project_image_fid=367182]

Architecture has been designed by <a href="https://www.apartments.com.au/architects/cottee-parker-architects">Cottee Parker</a>, with landscape architecture by <a href="https://www.apartments.com.au/landscape-architect/jeremy-ferrier-landscape-design">Jeremy Ferrier</a>. The building presents as a single-tower scheme, with a focus on maximising outlook across both the Surfers Paradise skyline and the Nerang River.

Apartments have been planned with open-plan living zones extending to generous balconies, a response to the site’s dual-aspect positioning between river and ocean. Interiors follow a restrained coastal palette, with two colour schemes offered, and an emphasis on natural light and cross-ventilation.

[smartcode_project:default project_id=107520 project_image_fid=367181]

Resident amenity is concentrated across more than 1,250 sqm and includes a resort-style pool, gym, yoga lawn and rooftop entertaining areas. A function space with catering facilities forms part of the upper-level offering, alongside north- and south-facing outdoor areas.

Ground level will incorporate two retail tenancies, intended to extend the existing village character of the surrounding streets.

&nbsp;

[smartcode_project:default project_id=107520 project_image_fid=367200]

The project sits within walking distance of Thomas Drive’s established dining strip, while maintaining proximity to <a href="https://www.apartments.com.au/developments/surfers-paradise-qld-4217">Surfers Paradise</a> beach and broader Gold Coast amenity. The location, positioned on Chevron Island between the river and coastline, has increasingly attracted mid- to high-density development in recent years as the precinct evolves beyond its low-rise origins.

Gardner Vaughan’s move into the Gold Coast was first signalled in 2025, with the group identifying the region as a natural extension of its operations. Chief Executive Officer Simon Betteridge described the expansion as both “strategic and natural”, citing demand for well-designed apartments in lifestyle-driven markets.

Construction is expected to complete in early 2029.

[smartcode_project_cta:default project_id=107520]

Joel Robinson

Gardner Vaughan brings Bronze on Chevron to market as Gold Coast debut

One of the penthouses at Lily Lane, the latest stage of Carrington Place by Ellipse Property, has set a new local apartment price record.

The four-bedroom residence, purchased by a local downsizer, sold for $5.75 million—around 75 per cent higher than the previous record of $3.3 million.

Over 40 per cent of the first release of apartments at&nbsp;<a href="https://www.apartments.com.au/new-apartments/lily-lane-at-carrington-place-castle-hill-32-carrington-road-castle-hill-nsw-2154">Lily Lane</a> have already been snapped up just six weeks since it launched to the market.

&nbsp;

Located at 32 Carrington Road, <a href="https://www.apartments.com.au/developments/castle-hill-nsw-2154">Castle Hill</a> and designed by award-winning architects <a href="https://www.apartments.com.au/architects/ptw">PTW</a>, Lily Lane is directly opposite the Hills Showground Metro station. It offers a total 213 units over two 12-storey towers - a mix of 67 one-bedroom, 100 two-bedroom and 46 three-bedroom apartments - with a ground-floor retail offering.

[smartcode_project:default project_id=151821 project_image_fid=368352]

Blake Schulze, National Director – Residential at <a href="https://www.apartments.com.au/project-marketer/colliers">Colliers</a>, says around 44 per cent of buyers are&nbsp;owner occupiers, with 35 per cent being investors and 21 per cent first homebuyers.

“Developments of this calibre are very rare in the Hills District, and Lily Lane’s sales success demonstrates the depth of demand for over-sized apartments that genuinely compete with freestanding homes," Schulze says.

"We are seeing particular demand from downsizers who want to remain in the area but transition into spacious, high-quality apartment living."

On the penthouse sale, it says it shows buyers&nbsp;are prepared to pay a premium for scale, quality, and direct access to the Metro.

[smartcode_project:default project_id=151821 project_image_fid=368351]

One-bedroom apartments are sized from 50-72 sqm with prices starting at $745,000, while two-bedrooms are priced from $990,000 with sizes from 75 to 132 square metres. Three-bedroom floorplans are sized between 97 and 182 sqm,, with prices starting at $1,395,000.&nbsp;

The three remaining penthouses, spanning up to 262 sqm, are priced from $2.9 million.

Over 75 per cent of apartments include dedicated studies, multipurpose rooms or family rooms, with select layouts offering walk-in pantries and laundries. Apartments are appointed with premium Miele appliances including ovens, washing machines, dryers, gas cooktops and dishwashers, while larger residences also incorporate integrated Miele microwaves, Fisher &amp; Paykel integrated refrigerators and five-burner Miele cooktops.

[smartcode_project:default project_id=151821 project_image_fid=360285]

Lily Lane will be constructed by award-winning iCIRT-rated builder <a href="https://www.apartments.com.au/builders/decode">Decode Group</a>, with construction to commence in mid-2026 and expected to complete early 2029.

Carrington Place comprises more than 800 apartments and is being delivered across multiple stages, with completion expected in 2032. Integrated with neighbouring bushland, the project will feature over 20,000 sq, of outdoor recreational area, including a one-kilometre boardwalk to Fred Caterson Reserve.&nbsp;

The Hills Showground Metro Station is just a two-minute walk away, offering fast connectivity to Sydney’s CBD, North Sydney, Chatswood, Macquarie Park and Norwest Business Park.

[smartcode_project_cta:default project_id=151821]

Ellipse sets Castle Hill apartment record with $5.75 million Lily Lane penthouse sale

Fresh off completing its Delano Crows Nest development, Lindsay Bennelong has lodged plans for its next project, this time turning its attention back to the beach.

The developer, started 20 years ago by Clarendon Homes founder Peter Campbell, is proposing a 37-apartment scheme at <a href="https://www.apartments.com.au/new-apartments/17-25-ashburner-street-manly-nsw-2095">17-25 Ashburner Street</a>, Manly, positioned between the southern end of <a href="https://www.apartments.com.au/developments/manly-nsw-2095">Manly</a> Beach and East Manly Cove.

Lindsay Bennelong called on local architecture firm Platform Architects to design the new building, given their success at Finn, Lindsay Bennelong's current luxury apartment project on North Steyne.&nbsp;

According to the Design Verification Statement by Bridie Gough of Platform Architects, the proposal “relates to the current context but also the desired future character of taller buildings suitable to the new planning controls.”

The site has been identified as a Low to Mid-Rise Housing (LMR) location, given its position within 400 metres of the Manly Town Centre E1 Business Zone. The LMR controls are intended to unlock additional housing supply in well-located areas close to public transport, allowing developers to seek increased height limits to support greater density.

“The proposal seeks to provide this increased level of housing whilst being respectful of some of the smaller scale buildings also nearby,” the statement reads.

Lindsay Bennelong Development Director Leigh Manser said the project has been carefully aligned with the intent of the LMR controls. The proposal will significantly increase housing yield on the site, replacing four houses and 10 apartments, comprising 25 bedrooms, with 37 new apartments delivering a total of 94 bedrooms, whilst remaining compliant with the LMR controls.

“Sydney is in a severe undersupply, and delivering more dwellings and more bedrooms than what currently exists is exactly what the LMR policy is designed to activate,” Manser said, noting that nine of the apartments will be allocated as affordable housing for frontline workers.

“We have already commenced discussions with our community housing provider to determine the rental levels that frontline workers can realistically afford in this location,” he said. “These will need to sit well below the standard affordable housing benchmark of 20 per cent below market rent, and that has been factored into our feasibility and pricing.”

<img alt="Manly" data-entity-type="file" data-entity-uuid="ad03000f-19f9-48b4-b27d-e85ca800a1da" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-04-30%20at%208.41.59%E2%80%AFAM.png?VersionId=a.txHwCZgbCInlQ6QXbIrI.umvW1T.r8" />

The design of the building incorporates a wave-like indentation running through the façade, referencing the nearby coastline and anchoring the building within its local context.

The&nbsp;Design Verification Statement says careful consideration has been given to the articulation of the building, ensuring the bulk is broken down to a more human scale through a defined four-storey podium."

The scheme includes a mix of one-, two- and three-bedroom apartments, as well as a full-time building manager's office and wellness facilities including a sauna and a gym.

“The design ensures a high level of amenity, with apartments offering generous private open space, many with expansive views, and all with comfortable proportions."

<img alt="Bennelong" data-entity-type="file" data-entity-uuid="6a7f2812-72a1-4959-84b0-997e8cd88aed" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-04-30%20at%2010.15.50%E2%80%AFAM.png?VersionId=6iMxU3MkXmHVHAoNhYBjnqgka8CUZNbk" />

<a href="https://www.apartments.com.au/developers/lindsay-bennelong-developments">Lindsay Bennelong</a>&nbsp;is currently developing Finn Manly, just four full-floor luxury apartments on North Steyne. They recently welcomed residents to its 81-unit Delano Crows Nest development, a&nbsp;carefully scaled infill project designed to bridge&nbsp;<a href="https://www.apartments.com.au/developments/crows-nest-nsw-2065">Crows Nest</a>’s lively village centre with its surrounding heritage streets.

Designed by&nbsp;<a href="https://www.apartments.com.au/architects/ajc-architects">AJC Architects</a>,&nbsp;<a href="https://www.apartments.com.au/new-apartments/delano-crows-nest-27-57-falcon-street-crows-nest-nsw-2065">Delano</a>&nbsp;is arranged across three low-rise buildings, incorporating a mix of one, two, and three-bedroom apartments alongside a limited number of townhomes addressing Hayberry Lane. The architectural approach drew on the area’s Art Deco lineage, reinterpreted through contemporary detailing and framed by landscaped communal gardens.

The developer also has a development site in Maroubra.

First look: Lindsay Bennelong's new Manly apartment development revealed

Fifty-nine residences across 37 levels. No more than two per floor. With 80 per cent now sold, what remains at <a href="https://www.apartments.com.au/new-apartments/madeline-by-mosaic-broadbeach-22-mary-avenue-broadbeach-qld-4218">Madeline by Mosaic</a> is a short list.

Madeline was always conceived at a scale that sits outside the normal register of Gold Coast apartment living. The residences are half- and full-floor configurations, with the largest spanning more than 400 sqm, dimensions that place them closer to the penthouse end of the market regardless of where they sit in the building.

That scale is the organising principle of everything else: how the floorplans are laid out, how the materials read, how the connection between inside and outside works.

[smartcode_project:default project_id=150135 project_image_fid=355941]

The interiors were developed in collaboration with <a href="https://www.apartments.com.au/architects/fraser-partners-0">Fraser &amp; Partners</a>, the architecture practice&nbsp;<a href="https://www.apartments.com.au/developers/mosaic-property-group">Mosaic</a> brought in as design partner for the first time on this project. The palette runs to natural stone, textured timbers, and soft metallics, materials chosen as much for their tactile quality as their appearance.

Light cleverly shifts across surfaces through the day, and the design is explicit about wanting that to be noticed. Full-height glazing runs across the primary living areas, and where the building faces east toward the ocean, those walls of glass are doing real work: framing a view corridor that the site's position directly opposite Broadbeach State School's playing fields keeps permanently open.

That outlook is the site's most consequential asset. In a suburb where new towers continue to rise, a protected view line is genuinely rare, and the Mary Avenue address secures it. Residents at Madeline will look out over open parkland rather than the rear of another building, a distinction that becomes more meaningful with each new development approved nearby.

[smartcode_project:default project_id=150135 project_image_fid=355939]

The private outdoor spaces are sized to match the residences themselves. Terraces on the upper levels frame uninterrupted ocean panoramas, and the planning ensures that living areas extend into those outdoor zones rather than treating them as separate attachments. The flow between the two is part of the design intent, not an afterthought.

Inside, the finish specification reflects the same approach. Rich stone benchtops, warm timber joinery, bespoke hardware, each element specified to hold up over time rather than read as a moment in a particular trend cycle.

[smartcode_project:default project_id=150135 project_image_fid=3409]

Beyond the residences, the amenity offering extends that register. A lap pool and sun deck anchor the outdoor space, alongside a magnesium pool, cold plunge, steam room, and sauna.

A commercial-grade gymnasium, residents' lounge, library, and boardroom round out a programme that functions more like a private members club than a standard building amenity floor.

Construction has commenced under Mosaic's in-house building arm, with completion scheduled for late 2028.

[smartcode_project_cta:default project_id=150135]

Madeline by Mosaic delivers penthouse-level living across every apartment

Developer Fortezza Group is the latest to take its new apartment development, <a href="https://www.apartments.com.au/new-apartments/the-belvedere-5-7-church-street-nelson-bay-nsw-2315">The Belvedere in Nelson Bay</a>, to the NSW Government.

Fortezza, predominantly a South East Queensland developer, is the latest to apply for State Significant Development&nbsp; status through the NSW Government's Housing Delivery Authority, a pathway becoming favoured by developers to speed up the approval process.

They are planning 57 two- and three-bedroom apartments across 5-7 Church Street and 42 Donald Street, near d'Albora Nelson Bay Marina. The diverse apartment mix has sizes from just over 80 sqm to the largest three-bedroom penthouses that reach nearly 200 sqm.

<img alt="Fortezza" data-entity-type="file" data-entity-uuid="090360e1-66d7-43ad-b686-aba81f173bf2" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-04-29%20at%2010.22.40%E2%80%AFAM.png?VersionId=DMqF96eBZolqSAAAcugX0l66ueWng66m" />

Fortezza calls the project a "piece of Istria in Nelson Bay,"&nbsp;referring to the largest peninsula in the Adriatic Sea, shared by Croatia (90%), Slovenia, and Italy, which is known for its Roman history, Venetian-style coastal towns and inland hilltop villages.

They say the The Belvedere is strategically positioned at the apex of Nelson Bay, offering unrivalled views of the ocean, the bay and captivating topography of the area.

"Our commitment to maintaining the integrity of every view and sight line has been relentless," Fortezza Group says.

"Through extensive modelling and analysis, we ensure that each apartment enjoys the natural beauty of Nelson Bay, regardless of future developments. Each design element is carefully curated to harmonise with our European heritage, drawing profound inspiration from the Roman architectural marvels in Istria. The arches, the cascades of greenery and the stonework that define our project pay homage to the structures that once exemplified Roman grandeur."

Residents will have access to a pool, communal green spaces, an office and a coffee shop.

First look: Fortezza Group takes The Belvedere, Nelson Bay apartment development, to NSW Government

Rockhampton

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The retail markets in Rockhampton and Gladstone have been similar in their evolution over the years, from their original beginnings in the heart of their respective CBDs, according to the latest Herron Todd White (HTW) commercial report.
The valuation firm took a look at the changing faces in the retail sector across the nation. 
The report suggested whilst retailers continue to occupy these traditional areas, the changing demands of retailers and shoppers, the lack of parking, supply, and general retail economic conditions have resulted in ongoing vacancies within these precincts (East Street and Goondoon Street precincts).
Most tenants within these precincts are now generally local retailers and food outlets supporting the commercial businesses in the area. Rentals within this precinct are substantially less than those within shopping centres and the area therefore attracts new retail and commercial businesses that are sensitive to the affordability of the rental.
The HTW valuers note: "There are a handful of neighbourhood shopping centres that have evolved from the more traditional convenience centres. Convenience centres were typically anchored by a small grocer and supported by other convenience tenants such as butchers, bakeries, fish and chip shops, post offices etc.
"The changing way people now shop, including the introduction of online grocery shopping, and the emergence of the larger players in the local markets has resulted in a number of changes including a shift towards larger neighbourhood shopping centres generally anchored by an IGA, Coles or Woolworths supermarket.
"This has resulted in increased vacancies and issues with rental affordability within the smaller traditional convenience centres. We consider that the retail space will continue to evolve with new challenges created by technology."
As rental levels and affordability have become a critical factor for local retailers and smaller convenience grocers have made way for larger neighbourhood supermarkets, it has also seen a shift in the profile of tenant that retail centres appear to be trying to attract.
In many centres, there has been a slow shift from traditional retail outlets to medical and health focused tenants, who typically can afford the higher rentals that these centres demand.
In terms of what tenants are looking for now as opposed to 10 years ago, some of the most notable items are good exposure, good on-site car parking, disability access and single level tenancies. It is becoming increasingly difficult to lease retail tenancies that have no parking or are in double storey walk up buildings.
"We have seen a softening of rentals in recent years and an increase in incentives required, seen to a greater extent in Gladstone than in Rockhampton as a result of the local market conditions," the valuer noted.
"We consider that these have now stabilised to a new norm, however for tenancies in secondary locations or with poor presentation, leasing is difficult and extended periods of vacancy are being seen." 
A Rockhampton City retail property has been listed for lease with the price of $25,00 per annum (pictured above)
Located at <a href="https://www.realcommercial.com.au/property-retail-qld-rockhampton+city-502968730" target="_blank">300 Bolsover Street</a>, the 210 square metre property consists 60 square metre of cafe, 150 square metre of storage and car park.
Other features include refrigerator display cabinet, stainless steal and cold 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/2018/10/4/berserker.jpg" alt="">
Another Rockhampton site is now on the market with the sale price of $780,000 (pictured above).
The site situated at <a href="https://www.realcommercial.com.au/property-retail-qld-berserker-502718514" target="_blank">59-61 High Street, Berserker</a> consists of two lots including one with a 653 square metre block of three shops and the other 645 square metre vacant one for lease. 
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j.ballantyne1990-6AQqhLzZaK

Ongoing vacancies in the Rockhampton and Gladstone retail markets: HTW

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Three as-new warehouse/office/showroom buildings have been listed for auction in Rockhampton.
Located at 6 Dooley Street, Park Avenue (pictured above), the buildings are leased to two established businesses.
The tenants are Olive &amp; White Cabinet Making.
Plus Rifen Marine, the largest chandlery in Central QLD which is also a Mercury dealership.
They have both signed onto five year leases until July 2023 plus options to 2028.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2018/10/4/Dooley%201.jpg" alt="">
The tenants will pay outgoings as per the leases and there are CPI annual rent reviews.
The freehold freehold corner site (pictured above) is 2,691 sqm fully concreted and sealed and has on-site parking for 20 vehicles.
The building area is only 930 sqm.
The net income is advised as $172,200 pa + GST.
The auction is set for October 23.
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Rifen Marine warehouse premises listed in Rockhampton

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Woods Bagot has designed a new $31 million pier and lift structure which form key elements of the Urbis-led Master Plan for the Rockhampton Riverside Precinct. The project seeks to revitalise the riverside district by maximising the potential of the previously neglected area and transforming it into a hub of community activity.

The riverside pier employs materials that reference the community’s historical past of gold, silver and copper mining in a contemporary way, but just as importantly also represents an economic and cultural rebirth following the damage caused by Cyclone Maria in 2015.

<figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public//pictures/article-images/150193_n17_screenhd.jpg" rel="gallery-all" title="The riverside pier and lift structure which form the Rockhampton Riverside Precinct. Image: Florian Groehn"><img alt="" class="image-article-full-width-580px" height="387" src="/sites/urban.melbourne/files//styles/article_full_width_580px/public/pictures/article-images/150193_n17_screenhd.jpg?itok=YuetYOO8" title="The riverside pier and lift structure which form the Rockhampton Riverside Precinct. Image: Florian Groehn" width="580"></a>

<figcaption>The riverside pier and lift structure which form the Rockhampton Riverside Precinct. Image: Florian Groehn</figcaption></figure>According to Woods Bagot, the riverside precinct has become a destination in its own right not just within Rockhampton but also regional Queensland. As part of the Master Plan, the site has become a public urban park comprising a playground, playful water features, amenities, local artwork, terraced landscaping, and places for shade and outdoor seating.

As part of the design response, the architects drew on and incorporated multiple influences from nearby sites, natural landscapes, and local industries which combined to form the overall composition of the two-story public building.

The 300 sqm building features a public landing on the lower ground level, while the main concourse accommodates a modern restaurant serving fresh seafood and seasonal produce. 
Additionally, the design also draws on the local vernacular forming a direct relationship with the quintessential ‘Queenslander’, with its large overhanging roof providing solar shading while allowing for uninterrupted views of the natural landscape.

The building’s linear shape and industrial aesthetic draw heavily from the steel Fitzroy Bridge to the North, while Mount Archer’s mining history inspired the form of the rich, earthy colour scheme.

The natural materials palette of stone, timber, metal, and glass allowed local craftsmen to assemble elements by hand using traditional methods. Profiled weathered metal 'blades' flank the building and allow for views of the surrounding 19-hectare parkland while providing respite from the sun’s heat.

The 'breezeway' as the name suggests allows cool breezes to flow through and ventilate the building naturally, while the building’s vertical lift responds to the location’s subtropical climates and flood-prone coast, acting as they way-finder to the site, alluding to the masts of ships.

Clad in Corten steel, the lift's robust exterior reflects the rich tones of the landscape and the history of copper, gold and silver mining in the area.

Solar panels on the roof generate green electricity which is fed back into the local power grid, while electric vehicle charging and bicycle maintenance stations are available throughout the park.

<figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public//pictures/article-images/150193_n11_screenhd.jpg" rel="gallery-all" title="The design draws on the local vernacular and landscape. Image: Florian Groehn"><img alt="" class="image-article-full-width-580px" height="410" src="/sites/urban.melbourne/files//styles/article_full_width_580px/public/pictures/article-images/150193_n11_screenhd.jpg?itok=vZoRH4G_" title="The design draws on the local vernacular and landscape. Image: Florian Groehn" width="580"></a>

<figcaption>The design draws on the local vernacular and landscape. Image: Florian Groehn</figcaption></figure><h2>What they say</h2>

<blockquote>
Rockhampton Riverside Precinct has become a destination for everyone to visit, occupy and enjoy. The vision of restoring the energy from the gold period has been realised along with the aim to provide the people of Rockhampton with a world-class civic and recreational space.

The finished design delivers over 30,000 m2 of public space, tripling the amount of civic and open space that previously existed.

Putting people at the centre of the design process is always where we start, and this is exactly the outcome we planned for – creating a special place for community gathering and to drive a groundswell of local pride in the city.

- Mark Damant, Woods Bagot Principal
</blockquote>

<blockquote>
Urbis worked with Rockhampton Regional Council on the redevelopment of the Riverside Precinct, a world-class waterfront area on the shores of Queensland’s Fitzroy River. 

The design incorporates playground areas, river lookouts, shaded walkways and gathering spaces. A streetscape along iconic Quay Street integrates the city’s edge with the riverbank parklands.

(The) design will revitalise and activate Rockhampton’s iconic riverside precinct by establishing a high quality realm space that will be widely celebrated and used by the community. 

- Urbis
</blockquote>

 
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Laurence Dragomir

Woods Bagot and Urbis revitalise Rockhampton Riverside precinct

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There is stagnation in the industrial development market in Rockhampton.
Most projects in growth precincts within the industrial market in Rockhampton were undertaken during the last market boom and development of industrial land has been fairly stagnant in recent years, according to the latest report from Herron Todd White (HTW).
The valuers noted that the industrial precincts in Gracemere are slowly being absorbed by the market.
There is still development soon to be undertaken within the Gracemere Industry Park (near Toll), with land to the rear approved to be developed into medium and light impact industrial allotments.
It is unknown when this land will be developed.
The valuers stated that the Livingstone Shire Council has been releasing industrial lots to the market within its Gateway Business and Industrial Park.
The estate comprises six stages in total with a proposed 71 lots.
The lots range in size from 2,000 square metres to 1.3 hectares.
Stage 2 has been developed and is currently available for sale.
The valuers at HTW believe "this supply of industrial land will provide for Yeppoon’s industrial market for some time".
"Major infrastructure projects that will assist in stimulating growth of the industrial sector will be the proposed Ring Road project as well as the Rookwood Weir."
In general, the industrial market for the first half of 2018 has continued at a steady pace.
The report forecasts that recovery of the coal price and green shoots within surrounding mining towns as well as local infrastructure projects will help the "recovery of the industrial market" in Rockhampton for the remainder of the year.
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Stagnant industrial development market in Rockhampton: HTW 

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A former Bunnings Warehouse in Rockhampton is for sale for the first time in 17 years after the home improvement giant relocated nearby.
The 7,660 square metre building (above) last traded for $2.2 million in 2001. 
In 2017 when they confirmed the relocation, Bunnings general manager of property Andrew Marks suggested plans were under way to re-purpose the building.
Bunnings have moved down the road from 452-488 Yamba Road to the corner of River Rose Drive and Yaamba Road - better known at the old Masters Home Improvements site.
Their new store spans another 4,000 square metres of retail.
Savills agents Peter Tyson and Jon Tyson are marketing the old premises until July 26.
Savills national retail director Peter Tyson said the building represented a significant holding located in the heart of the region’s large format retailing precinct and offers numerous value-add possibilities for potential owner-occupiers, retailers, developers and investors.
“The building is fully air-conditioned and would be readily adapted for reuse, with options including certain retail, large format retail or bulky goods uses, vehicle and outdoor sales, industry and self-storage uses," he said.
“The complex occupies a prominent 26,626 square metre site with enormous frontage to Yaamba Road, the local section of the Bruce Highway, which features over 9.2 million cars passing the site each year."
The Yaamba Road commercial precinct is bookended by the new Bunnings Warehouse to the north and the 58,000 square metre Stockland Rockhampton Shopping Centre to the south, and is also home to the Red Hill Homemaker Centre, as well as various national retailers including Harvey Norman, Amart, Petbarn and Spotlight. 
“It is interesting to note a long list of national retailers not present in the Rockhampton market and trade area analysis reveals an enormous available catchment extending east to Yeppoon and west to Emerald and beyond, with almost 230,000 people forecast to reach over 250,000 people by 2031,” Peter Tyson said.
Earlier this month Savills listed the Bunnings premises in Warragul outside of Melbourne, which is currently tenanted to Bunnings.
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jonathanchancellor-7SQnKwU6yx

Former Bunnings Rockhampton warehouse up for grabs after relocation

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The weakening Rockhampton residential market may yet have hope as construction picks up.
The Rockhampton market has been weakening for some time now with relatively sales numbers steady over the past few years, according to the June report from valuation firm Herron Todd White.
January to March was overall quite positive, providing a good start to the year and while the months since have not been as buoyant, there are still signs within the area that market improvement is just around the corner.
The report noted that, overall the housing sector has continued to plod along with no real stand out areas although the prestige market has seen more activity in recent times.
The prestige market has seen more activity in recent times with a number of sales over $1 million and a few close to that.
There is still good buying within most price brackets, with the best buying being in the sub $300,000 established homes.
"Newer homes have tended to hold their prices better over the past few years but are still offering buyers good value for money", suggests the report.
"The construction of new homes has improved slightly, however there is still a way to go, generally due to modern established homes offering better overall value for money at the current time."
A number of unit projects are in progress in various areas throughout the Rockhampton area, one of note, The Gallery, (pictured) which is the latest Riverside high rise apartment complex, is all but completed, with a number of units still available for purchase.
The Skyview complex is also under construction with units still available and The Loft apartments are getting pre-sales together.
New walk-up units are also available on both sides of the river in older more established areas.
The report noted that, older units are generally priced in the lower section of the market and are generally offering good buying.
The second half of the year is looking positive, with a number of projects both small and large either about to start or that have had announcements with funding pending.
Rookwood Weir and the lingering project are the two largest projects that are mooted for the area, stated the valuers.
Should either of these go ahead, they will help drive the Rockhampton and Central Queensland economy in the future.
Should further action towards these projects take place within the next few months, it is expected the property market will react positively.
Other projects taking place in Rockhampton include the construction of the Rockhampton Hospital Carpark and the soon to start duplication of the Capricorn Highway to Gracemere and the Bruce Highway Northern Access upgrade.
The valuers at HTW forecast that, the Rockhampton market will through these projects and other factors see future market improvement.
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Weakening Rockhampton residential market may yet have hope as construction picks up: HTW 

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A home in Berserker, a suburb of Rockhampton in Queensland, has been sold by the mortgagee in possession.
The home, described as <a href="https://www.realestate.com.au/sold/property-house-qld-berserker-126281270" target="_blank">one for the entertainer,</a> fetched $189,000 when sold earlier this week.
Set on 1010 sqm, the home has three bedrooms and a swimming pool but needs 'some TLC to bring it up to its full potential' suggests the marketing.
Nikki Skinner at Century21 Solutions sold the home.
It last traded for $128,000 in 2007.
 
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Rockhampton home sold by mortgagee 

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Rockhampton’s retail market is expected to continue in line with activity seen throughout 2016, according to a recent report by property valuation firm Herron Todd White report.
“While we anticipate that general real estate markets may improve in 2017, there is likely to be continued downward pressure on retail rentals and a strong presence of incentives given the current high vacancies in this sector in Rockhampton,” the report said.
In spite of this, well anchored centres with good access and exposure are anticipated to hold their rental values.
"Whilst the independent local retailers appear to be bearing the brunt of local economic conditions, we are aware that major retailers and supermarket chains continue to search for key sites in Rockhampton for possible expansion, which provides a more positive outlook for 2017," the report said.
Investors are actively looking for retail properties, but are sensitive to tenant strength and unexpired lease term/WALE of properties.
Evidence of this sensitivity has been seen recently on a neighbourhood retail centre which was under contract on a circa 10% yield, said HTW.
"This contract has subsequently fallen over due to a tenant not exercising an option," the report stated.
"Demand for speciality retail tenancies in neighbourhood shopping centres in Mackay is moderate and vacancy rates have increased. This has been caused by the local economic downturn."
Local sitting tenants in neighbourhood shopping centres have negotiated nominal rental reductions on market review.
“We are not aware of any new leases in these centres in Mackay over the past year. There is a risk that market rentals could ease as landlords lose their tolerance for vacancies,” the report cautioned.
HTW pointed out that a notable retail sale was the IGA West Mackay complex in December 2016 at $9.25 million to show an analysed market net yield of approximately 7% after allowance for the value of a vacant site included in the transaction.
The complex was completed in 2013 and is anchored by IGA (Metcash) with other tenants including BWS (Woolworths) and Sullivan Nicolaides Pathology (Sonic Health Care).
It sold with a very long WALE of 14.76 years which was strongly influenced by the IGA lease which expires in 2033.
"The sale is consistent with national demand for good quality lease covenants particularly to non-discretionary (supermarket) retailers," it said.
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Rockhampton retail market to continue as is while demand for tenants in Mackay rises: HTW

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Entrepreneur Ron Bakir, the founder and CEO of HomeCorp Group, is offering six weeks rent free for a tenant for his investment property near Rockhampton in Queensland.
The <a href="https://www.realestate.com.au/property-house-qld-zilzie-417949322" target="_blank">Zilzie four bedroom home</a> cost Bakir $290,000 in 2010.
It is priced at $290 a week for a 12 month lease, considerably less than its peak $410 a week rental in 2012.
Bakir, who established the mobile phone chain Crazy Ron, hit national headlines when he bankrolled Schapelle Corby's defence when she was imprisoned in 2005.
He has just found a tenant for a Surfers Paradise investment where he is based.
Bakir's lavish Chevron Renassaince penthouse remains on the market.
The sprawling two level penthouse spanning over 1000 sqm of space has four bedrooms, a wine tasting area, gym and sauna and took two years to create.
This article first appeared in the Weekend Australian Mansions Australia section.
 
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Ron Bakir offering six weeks rent free for Rockhampton investment property

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Despite some promising signs in the September quarter, the December quarter brought more pressure on the Rockhampton median house price, according to REIQ's latest report.
This resulted in a fall of 5.9% to $273,000 over the final quarter of 2016.
The Rockhampton house market has declined by 5.2% this year and 10.8% over five years and is now the most affordable market measured in the QMM report.
The unit market was too small to record a median unit price; with just 16 transactions this is not a meaningful sample size.
A two bedroom house at <a href="https://www.realestate.com.au/property-house-qld-west+rockhampton-124634514" target="_blank">73 Eton Street</a>, West Rockhampton (above) has been listed for $275,000.
Similarly a two bedroom house at <a href="https://www.realestate.com.au/property-house-qld-west+rockhampton-124445730" target="_blank">46 Jardine Street</a>, West Rockhampton (below) has been listed for $259,000.
<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/2017/03/16/46%20Jardine%20Street.jpg" alt="">
 
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