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]

Joel Robinson

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

Virgate Property Group is preparing to commence construction of Verdé, its new apartment development in Melbourne's Arts Precinct at Southbank, following a strong run of sales that has seen more than half of the project's 173 apartments secured.

Verdé has attracted a broad mix of first home buyers, owner-occupiers upgrading from nearby inner-city suburbs and investors, with younger owner-occupier couples aged between 28 and 45 accounting for the strongest enquiry. Many are already living in Southbank, South Melbourne, Albert Park, Port Melbourne, South Yarra and the CBD.

"Verdé is located in one of the most desirable pockets of southern Melbourne," Blair Property Group Director Darren Blair, who is managing sales at Verdé, said.

"It's within walking distance of the Arts Centre, Royal Botanic Gardens, Albert Park Lake, and Southbank's restaurants and retail. It's a great lifestyle location with strong amenity and liveability, which made it a very attractive choice for the project."

[smartcode_project:default project_id=4661 project_image_fid=372549]

Virgate was already familiar with the precinct, having previously delivered the successful Domain House development in neighbouring South Melbourne. That experience gave the developer confidence to acquire the Coventry Street site and continue expanding its presence in Melbourne's inner south.

"We had been keeping an eye on the site and the broader precinct for a few months before deciding to move forward with the acquisition," Virgate said.

The project was ultimately secured in 2020 following feasibility studies, planning assessments and due diligence, with the brief centred on delivering "a high-quality, considered design that feels both refined and fit for purpose."

[smartcode_project:default project_id=4661 project_image_fid=314259]

Designed by <a href="https://www.apartments.com.au/architects/bruce-henderson-architects">Bruce Henderson Architects</a>, Verdé comprises 173 one, two and three-bedroom apartments priced from $599,000. The architecture is distinguished by a faceted glass façade that responds to both the site's outlook and Melbourne's changing light conditions.

According to Bruce Henderson Architects, the coloured glazing gives the building a distinctive identity while also providing privacy and solar shading, with residences oriented to capture views across the bay, city skyline and surrounding parklands.

Inside, <a href="https://www.apartments.com.au/interior-designers/designoffice">DesignOffice</a> has created interiors focused on natural light, efficient planning and enduring materials. Apartments feature engineered oak flooring, natural stone benchtops, floor-to-ceiling glazing and SMEG appliances, while a restrained material palette aims to complement the expansive outlooks rather than compete with them.

[smartcode_project:default project_id=4661 project_image_fid=372550]

Resident amenity has also been designed around everyday functionality rather than occasional use. Facilities include a concierge-serviced lobby, residents' lounge with fireplace, library and co-working space, gym, terrace garden with barbecue facilities, ground-floor café, and package delivery management.

The project's location continues to be one of its strongest drawcards. Positioned on Coventry Street, Verdé sits within walking distance of the National Gallery of Victoria, Arts Centre Melbourne, Royal Botanic Gardens and Albert Park Lake, while Southbank's dining precinct, Sturt Street trams and the new ANZAC Station are all nearby. The surrounding education catchment also includes Melbourne Grammar, Melbourne Girls Grammar, Mac.Robertson Girls' High School and several major university campuses.

The sales team says buyers have responded particularly well to the combination of location, design quality and long-term liveability.

"They're responding really positively to the quality of the design, premium resident amenities and the uninterrupted views. Many also appreciate the location and how connected it is to everything they need."

The ability to secure stamp duty savings before completion has also been a key factor for purchasers, alongside the opportunity to personalise finishes ahead of settlement.

With construction set to commence soon and more than half the apartments already sold, Verdé enters its next phase as one of the Arts Precinct's more established apartment developments, offering remaining buyers an opportunity to secure a residence before construction advances further. Expected completion is scheduled for late 2027.

[smartcode_project_cta:default project_id=4661]

Virgate's Verdé Southbank moves toward construction as sales fly past halfway stage

Downsizer-focused apartment development Kooyongkoot in Hawthorn has been recognised at the 2026 Better Future Melbourne Design Awards, taking home Gold and Silver awards in two categories.

<a href="https://www.apartments.com.au/new-apartments/kooyongkoot-hawthorn-1-kooyongkoot-road-hawthorn-vic-3122">Kooyongkoot</a>, currently being delivered by developer PQD and designed by Cera Stribley, received Gold in the Interior Design – Proposed category and Silver in the Architecture – Proposed category.

The dual recognition reflects the design approach behind the boutique development on prestigious Kooyongkoot Road, where the focus has been on creating homes for downsizers seeking the space, quality and functionality of a detached house within a low-rise apartment building.

Rather than maximising apartment numbers, <a href="https://www.apartments.com.au/developers/pqd">PQD</a> and <a href="https://www.apartments.com.au/architects/cera-stribley-architects">Cera Stribley</a> limited the development to just 18 residences, allowing for larger floorplans, greater privacy, generous landscaping and expansive communal spaces.&nbsp;The majority of the apartments also benefit from corner aspects, allowing for dual sources of natural light.

Now around 70 per cent complete and on track for completion in November 2026, Kooyongkoot will comprise a mix of garden residences, ter​race apartments, sub-penthouses, and is crowned by two half-floor penthouses with direct lift access and private rooftop terraces.

[smartcode_project:default project_id=102717 project_image_fid=355297]

The Silver Award for Architecture recognised the way the building responds to its prominent corner position at the ent​rance to Hawthorn's Scotch Hill precinct, one of Melbourne's most established residential neighbourhoods.

Rather than competing with the grand homes that line Kooyongkoot Road, the architectural approach focused on restraint and longevity, using curved brickwork, generous landscaping and carefully considered proportions to integrate with the existing streetscape.

"The form feels fluid and timeless, as though shaped by the landscape itself – architecture that belongs, rather than competes," said Chris Stribley, Co-Founder and Managing Principal of Cera Stribley.

The judging submission also highlighted practical innovations throughout the building, including lift cores servicing only nine homes each, a central landscaped lightcourt designed to bring daylight and ventilation into the building, and fully enclosed private storage rooms with lighting, power and shelving to better accommodate residents transitioning from larger family homes.

[smartcode_project:default project_id=102717 project_image_fid=355293]

The Gold Award for Interior Design recognised the project's focus on long-term liveability rather than display-home aesthetics.

According to the awards submission, the interiors were designed from the inside out, prioritising how homes would function over decades of daily use through generous proportions, practical storage, durable natural materials and flexible layouts.

The specification includes natural stone throughout, upgraded acoustic glazing, V-ZUG appliances and fully enclosed storage rooms, alongside an amenity offering focused on wellness, entertainment and everyday convenience.&nbsp;

Residents will have access to a gym and yoga studio, a wellness centre featuring traditional and infrared saunas, a cold therapy shower and treatment room, as well as a residents' lounge and golf simulator/cinema room for entertainment.&nbsp;Kooyongkoot has also considered the everyday convenience of its residents by offering a private carwash and pet wash facilities on site as well as dedicated parcel lockers and oversized fully enclosed storage rooms.&nbsp;

[smartcode_project:default project_id=102717 project_image_fid=355303]

The project's attention to detail has already resonated with buyers. Earlier this year, Kooyongkoot recorded one of Boroondara's highest apartment sales when an $8 million penthouse was purchased by a Melbourne CEO downsizing from a nearby family home.

"Every detail feels deliberate, from the overall design down to the smallest touches," the purchaser said.

"The level of quality and refinement is exceptional, but what really sold it was how liveable it felt... It felt like a place where everything had been considered, not just a luxury building."

[smartcode_project:default project_id=102717 project_image_fid=355304]

Sustainability also formed a key part of both award submissions. Kooyongkoot is targeting a minimum 7.5-star NatHERS rating across all residences, supported by passive design principles, high-performance glazing, EV charging infrastructure, water reuse systems and a wellness model focused on lower-energy dry facilities rather than pools and large wet areas.

Located within walking distance of Scotch College, Methodist Ladies' College, Koo​yong Lawn Tennis Club, Aubur​n Village and Camberwell Junction, Kooyongkoot continues to target owner-occupiers looking to remain in Melbourne's inner east without compromising on space or quality. A limited selection of two, three and four-bedroom residences remains available, with prices starting from $1.9 million.

[smartcode_project_cta:default project_id=102717]

Kooyongkoot wins Gold and Silver at Better Future Melbourne Design Awards

New apartment supply has become increasingly constrained across <a href="https://www.apartments.com.au/developments/parramatta-nsw-2150">Parramatta</a> in recent years, with fewer projects progressing through to completion as development conditions have become more challenging.

It makes <a href="https://www.apartments.com.au/developers/novm">NOVM</a>'s 2021-completed <a href="https://www.apartments.com.au/buildings/the-lennox-parramatta-12-phillip-street-parramatta-nsw-2150">The Lennox</a> one of the most recently completed residential towers on the Parramatta River, and among the newest apartment developments in Sydney's second CBD.

With the project largely completed before the sharp escalation in construction costs and inflation following the pandemic, The Lennox is now offering pricing that would be difficult to replicate in a comparable new development in Parramatta today, or across much of Western Sydney.

The majority of the 413 apartments at The Lennox sold before and shortly after completion. A limited release of the remaining apartments has recently been brought to market by capital partner <a href="https://www.apartments.com.au/project-marketer/equitifund-group">Equitifund</a>, with entry-level pricing from $700,000 and two-bedroom apartments available from under $1 million.

Rising above the Parramatta River at 12 Phillip Street, The Lennox comprises one, two, three and four-bedroom apartments, appealing to first home buyers, young professionals, families, downsizers and interstate investors seeking a completed apartment in one of Australia's fastest-growing economic centres.

[smartcode_project:default project_id=5743 project_image_fid=372394]

Rather than positioning Parramatta as an alternative to Sydney's CBD, Equitifund believes the city has reached a point where it stands on its own merits.

"Parramatta is no longer simply an alternative to Sydney CBD, it's becoming a destination in its own right," Equitifund Executive Chairman Greg Huxley said.

"The Lennox captures that evolution with a level of quality and amenity that's difficult to match at its price point."

[smartcode_project:default project_id=5743 project_image_fid=953]

Designed by <a href="https://www.apartments.com.au/architects/marchese-partners">Marchese Partners</a>, the tower responds directly to its riverfront setting through expansive glazing and open-plan layouts that maximise views across the Parramatta River and city skyline. Interiors feature engineered timber flooring, stone benchtops, stainless steel appliances and floor-to-ceiling glazing, while generous balconies extend the living spaces outdoors.

Marchese Partners says the project was conceived to balance high-quality apartment living with practical, long-term functionality, pairing larger, efficient floorplans with amenities more commonly associated with five-star hotels.

That emphasis continues through the resident facilities, which include a 20-metre rooftop swimming pool, fully equipped gym and wellness spaces, full-time concierge, a residents' lounge, function room, private lifts, secure basement parking and rooftop communal areas overlooking the Parramatta River. Ground-floor boardwalk retail and dining further activate the riverfront and integrate the building into the surrounding public realm.

[smartcode_project:default project_id=5743 project_image_fid=925]

Australian housing and finance group Equitifund has secured the remaining apartments, believing there are few completed apartment opportunities in Parramatta that offer the same combination of location, amenity and pricing.

Equitifund National Sales Director Ben Hamblett says buyers are increasingly recognising that premium apartment living no longer needs to come with Sydney CBD pricing.

"The Lennox is where aspirational living becomes attainable," Hamblett said.

"Wake to river and mountain views, step into Sydney's Second CBD, and arrive home to resort-calibre amenities, all without the harbour price tag."

Hamblett says owner-occupiers are also attracted by the convenience of having Westfield Parramatta, Church Street's dining precinct, Parramatta Park, Riverside Theatres, Western Sydney University and major transport connections all within walking distance.

"At The Lennox, lifestyle is not an afterthought, it is the foundation."

[smartcode_project:default project_id=5743 project_image_fid=5374]

The Lennox places residents within walking distance of Parramatta Square, Westfield Parramatta, Church Street Eat Street, Parramatta Station, the ferry wharf, Light Rail, the future Sydney Metro West, Parramatta Park and CommBank Stadium, reinforcing Parramatta's position as one of Australia's most connected metropolitan centres outside Sydney's CBD.

Equitifund says buyers visiting the display suite consistently comment on the quality of the finishes, generous floorplans, river and skyline views, and the walkability of the location. The project has attracted a broad mix of local professionals, upsizers, downsizers, buyers relocating from Sydney's inner suburbs and interstate investors seeking long-term growth opportunities.

That demand aligns with Parramatta's continued evolution as an economic powerhouse. Equitifund Research and Market Insights specialist John Bekiaris says sustained population growth, infrastructure investment and expanding employment opportunities continue to support long-term housing demand across the city.

"Parramatta has evolved from a satellite city into one of Australia's most important economic centres. Population growth, infrastructure investment and employment are all supporting sustained long-term housing demand."

[smartcode_project_cta:default project_id=5743]

The apartment price gap drawing Sydney buyers west

A luxury beachfront apartment at Rainbow Bay has more than doubled in value since it sold off the plan six years ago, setting a new local apartment record in the process.

The three-bedroom apartment in the Flow development on Petrie Street, the first of four new projects locally by Paul Gedoun's S&amp;S Projects, has sold for $7.4 million, after originally selling for $3.27 million when the project launched in 2020.

The seventh-floor apartment, comprising 187 sqm of internal living space and a 54 sqm balcony overlooking Froggies Beach and Snapper Rocks, was purchased by a local family.

The transaction was negotiated by Pezet Matheson director Kerry Pezet and equates to more than $30,000 per sqm.

Pezet said the sale reflected the limited opportunities to buy into the boutique beachfront development.

"The sale highlights the rarity of opportunities within the boutique beachfront development, where residences seldom become available," Pezet said.

"Flow is one of the Gold Coast's most tightly held buildings. Buyers from our database move quickly when residences become available, and achieving an off-market sale at $7.4 million demonstrates the depth of demand for property of this calibre."

<img alt="Flow" data-entity-type="file" data-entity-uuid="c585b206-2130-4eee-a50c-3f27c51a7c70" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-07-06%20at%208.33.25%E2%80%AFPM.png?VersionId=m3pHRDV62Y3fvN.XQuQHq.52ilTWpRLf" />

Flow was the first of four luxury apartment developments delivered by Paul Gedoun's S&amp;S Projects at Rainbow Bay and was completed in 2023.

Positioned on the beachfront overlooking Snapper Rocks, the residence includes three bedrooms, three bathrooms, a powder room and views stretching north along the coastline towards Surfers Paradise.

Pezet Matheson Residential principal Mitchell Lambert said buyers continued to prioritise quality beachfront apartments in tightly held locations.

"Flow Residences offers a rare combination of elevated beachfront positioning, architectural excellence, comprehensive resident amenity and premium finishes, which is exactly what discerning purchasers are seeking," Lambert said.

"The transaction further reinforces Rainbow Bay's reputation as one of Australia's premier coastal lifestyle destinations, where limited supply and growing demand continue to support strong market performance."

Pezet Matheson originally marketed and sold out Flow off the plan, making the latest transaction a return to one of the project's original buyers.

Paul Gedoun is selling his third project, <a href="https://www.apartments.com.au/new-apartments/radia-rainbow-bay-271-boundary-street-coolangatta-qld-4225">Radia Rainbow Bay</a>, after recently completing, and selling out, <a href="https://www.apartments.com.au/buildings/esprit-217-227-boundary-street-coolangatta-qld-4225">Esprit</a>. He has plans for a <a href="https://www.apartments.com.au/news/qld/first-look-s-s-projects-proposes-88-apartment-wellness-tower-at-coolangattas-boundary-street">fourth building</a>, 88 apartments on <a href="https://www.apartments.com.au/new-apartments/209-213-boundary-street-coolangatta-qld-4225">Boundary Street</a>.

Rainbow Bay apartment doubles in price since off the plan sale during pandemic

Savills

<html><body>
Savills Studley has announced that their occupier technology platform, Knowledge^3 (pronounced “knowledge cubed”) powered by LEVERTON has won the H. Bruce Russell Global Innovator’s Award presented by CoreNet Global, the world’s leading professional association for corporate real estate (CRE) and workplace executives, service providers and economic developers.
This joint platform delivers proprietary data visualizations and analytics by combining LEVERTON’s artificial intelligence-powered lease abstraction and data capture technologies with Savills’ proprietary and customisable visual analytics environment, known as Knowledge^3.
Using this platform, clients with large scale real estate portfolios are able to analyse and interpret data in ways that enable them to identify fresh opportunities, minimize portfolio risk and unlock hidden value.
Adam Evennett, Regional Director and Head of Savills Worldwide Occupier Services Asia Pacific team, said Savills’ success in walking away with this global innovation award is something which our organisation should be very proud of.
“Thanks to the initiative and leadership of a multinational team including Patrick McGrath, Head of Client Technology Systems, Managing Directors Bryan Ezell and Doug Jamieson and Tom Slator, Insight and Development Manager, we now have a technology solution available to support our pursuit of international portfolio clients which is market leading.
"The versatility and power of the platform is impressive and has the potential to revolutionise the way in which clients administer and manage their international real estate. I would encourage everyone to share news of this award with your clients and the broader market.”
 
</body></html>

jrobinson-rf4aSBido9

Savills win 2017 CoreNet Global Innovator’s Award with Knowledge^3 Product

<html><body>
The hospitality sector continued its growth trajectory in 2017, according to recent data from Savills.
Revenue per available room Australia-wide increased 2.3% for the year-to-date till September, according to Savills Hotels recent quarterly update.
Sydney continued to outperform Australian markets with a RevPAR gap of $40+ over the next best market performer, Melbourne.
Perth was the worst performer, with RevPAR down down 13.3%.
The best growth markets were Canberra (up 11.8%), Cairns (up 9.4%) and Sydney (up 6.2%).   
<a href="https://www.propertyobserver.com.au/images/2017/11/27/RevPARmain.png" target="_blank">Click to enlarge</a>
<img src="https://www.urban.com.au/images/2017/11/27/RevPARmain.png" alt="">
<a href="https://www.propertyobserver.com.au/images/2017/11/27/RevPAR2.png" target="_blank">Click to enlarge</a>
<img src="https://www.urban.com.au/images/2017/11/27/RevPAR2.png" alt="">
</body></html>

j.ballantyne1990-6AQqhLzZaK

Sydney outperforms rest of Australia in hotel room rates: Savills

<html><body>
One of Manly’s last remaining beachfront freehold properties has just sold through Savills.
Offered for the first time in 50 years, the property at <a href="https://www.realcommercial.com.au/property-land+development-nsw-manly-502506802" target="_blank">15-16 South Steyne</a> changed hands for an undisclosed sum.
Zoned Flexible B2 Local Centre zoning, the property was marketed as a development opportunity through an expressions of interest campaign that closed on September 14.
It is close to Manly Wharf with two street frontages.
The selling agents were Neil Cooke, Stuart Cox and Tim Grosmann of Savills.
It was previously home to the Royal Far West school, which provides support and services to local country kids for more than 80 years. It was put on the market with expectations of $10 million, Fairfax Media added.
Three budget accommodation sites in Manly, including the suburb’s biggest backpackers, are for sale.
<div class="story-content">
The accommodation represents almost 200 guest beds, are all close to the beach.
The Manly Guesthouse in Steinton Street is being offered as a going concern but the Manly Backpackers in Raglan Street and a colourful boarding house on the corner of Whistler and Steinton Streets are advertised as potential development sites.
</div>
</body></html>

Manly's last beachfront property changes hands through Savills

<html><body>
Integrated knowledge-based environments have been evolving for the last 30 years globally, however they have only recently started to move beyond the infancy phase in Australia and in turn morphing into competitive Science or Technology precincts in their own right.
The origins of science parks date back to the early 1980’s when a number of UK-based universities recognised that an era of integrated educational and knowledge based business had arrived and realised the benefits of aligning multidisciplinary research and businesses. 
What is a science park?
A science park is an entity managed by specialist experts usually being universities, local or regional government, whose main aim is to increase the wealth of its community by promoting a common culture of innovation. Science parks aim to find the balance between social and educational benefit through knowledge enhancement with commercial considerations for the provision of the infrastructure.
Linkages with start-ups, manufacturing, incubation hubs, R&amp;D and many more enable them to carry the knowledge gained from such synergies through to practical and or commercial uses. The aggregation of science parks results in a ‘knowledge economy’ of social and commercially oriented zones of influence. In theory it’s a win-win for the developers and researchers.
Over the last two decades this ‘new’ property sector has continued to evolve with the UK and USA leading the charge. Allied businesses have opted to position themselves in these parks to take advantage of not only knowledge and infrastructure sharing but also the flexible operational elements ranging from financial advice through to marketing support.
Consider the case, for example, of a small orthopaedic research entity that can’t afford specialised integrated laboratories but needs to be aligned with an industrial designer, intellectual property advisors, marketers and manufacturers of prototypes. By positioning themselves in a science park dedicated to their line of research, they could collaborate with such aligned professionals, share specialist laboratory space at nominal cost, and collaborate with an industrial designer to manufacture prototypes, patent them and be able to test them on patients at an adjoining hospital once they are approved for use. Such associations would be much more difficult in disparate locations and ‘accidental collisions’ would be very unlikely.
Global Precedents
One of the oldest and largest examples of this concept from Europe is the Cambridge Science Park in the UK, a joint venture between Trinity College and another Cambridge College – Trinity Hall. Between 1994 and 2004, David Lupson and Dr Sarah Tasker of Savills Science were responsible for crafting the development and operations of the Cambridge Science Park.
<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/2017/11/14/Cambridge%20Scince%20Park%20copy.jpg" alt=""> 
This project provided for Europe’s largest biotech cluster at the time and the UK’s first purpose designed laboratories for commercial leasing. 
Another example is the Liverpool Science Park developed on behalf of the joint owners <a href="https://www.ljmu.ac.uk/">Liverpool John Moores University</a>, the <a href="https://www.liverpool.ac.uk/">University of Liverpoo</a>l, and <a href="https://liverpool.gov.uk/">Liverpool City Council</a>. Liverpool Science Park is as a not-for-profit company which operates on a fully-commercial basis. Savills was first appointed on the project in 2004 and have been instrumental in providing the initial science park design, funding, governance and commercial advisory to all three phases of the 11,000sq m development. 
<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/2017/11/14/Liverpool%20Science%20Park%20copy.jpg" alt="">
The construction of the latest phase is currently underway which will see an additional 9,000sq m of commercially available office, teaching and laboratory space added to the Liverpool Knowledge Centre. 
Asia Pacific Adoption
Undoubtedly, science and technology parks are well established across Europe and the USA, while in other parts of the globe including many Asia Pacific countries, these concepts are only beginning to be mature. Hong Kong, China and Singapore have been at the forefront of the sector’s rise in Asia including but not limited to Hong Kong Science Park, Zhongguancun and Biopolis. 
Thailand is currently preparing to welcome its first ever Digital Park, located on the Chonburi Province within the <a href="https://www.thailand-property.com/blog/potential-for-sri-racha">Sri Racha district</a> of Chonburi Province. CAT Telecom, Thailand's leading government-owned Telco Company has appointed a world-class consortium led by Savills 
With a strong emphasis on using smart technology, this Digital Park will enable entrepreneurs and start-ups to intermingle to enhance networking opportunities and ‘accidental collisions’. The CAT Telecom Digital Park will span 100 hectares with development estimated to take between 10 and 15 years. The purpose of the Digital Park is to create an environment for a digital ecosystem to excel.
<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/2017/11/14/Thailand-First-Digital-Park%20copy.jpg" alt="">
 Australian Context
With the rest of the world making way for the digital and science ecosystem boom, Australia too is beginning to further explore pre-planned precincts to accommodate challenges such as a growing and ageing population, exponential advances in technology and the effects of climate change to name a few.
Melbourne’s west precinct of Werribee has been identified as an area of growth set to morph into a $30 billion cutting edge ‘Education City’ with the aim of becoming the largest Science Park in the southern hemisphere. The precinct will comprise of universities and schools along with home and apartment development to house 80,000 residents. If the proposal is approved, it will develop a 400ha stretch of State Government owned land into its own knowledge economy hub. 
In Queensland, the Commonwealth Games Athletes village will be transformed into a multi-billion dollar medical research and technology hub as the Gold Coast Health &amp; Knowledge Precinct prepares to inject $2.9 billion into the Gold Coast economy and employ 26,000 people. 
The 200ha Parklands site is a joint strategy of the Queensland State Government, Gold Coast City Council and Griffith University. The precinct is already positioning itself as a biomedical research hub and adapts the Science Park knowledge economy concepts from overseas.
Similar momentum has been generated across the Sunshine Coast region where Kawana has become the motivation of yet another rapidly evolving health precinct. The master-planned site incorporates a $1.8bn Sunshine Coast University Hospital and the $250m Ramsay Private Hospital. The precinct itself comprises 17ha of mixed-use land incorporating medical, aged care &amp; retirement, car parking facilities, retail, residential, hotel and child care facilities. 
Savills has been tasked by the master planner to work with all stakeholders in assessing demand and subsequently securing interest to develop land and occupy purpose built medical facilities within the precinct.   
Other current and proposed precincts around Australia include the St Vincent’s Research &amp; Biotechnology Precinct (Sydney), Bentley Technology Precinct (Perth), Australia National University Science Precinct (Canberra) and Monash Science Precinct (Melbourne).
<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/2017/11/14/Sunshine%20Coast%20Health%20Precinct%20copy.jpg" alt="">  
Australian Outlook 
Australian developers and public entities are not fully conversant with this sector and its specific idiosyncrasies yet. Development models for commercial buildings do not necessarily align with those of Science Parks where social and educational drivers are key. Returns in this sector are long term with a focus on ensuring that the assets incubate start-ups and small research which in turn attracts larger investors and allied entities to provide commercial offsets.
Because each Science Park needs to be focused on a specialised niche to avoid cannibalisation of talent, resources and professionals, there is no one standard model for their creation. Whilst some principles from successful international precincts may apply, each one needs to be purpose crafted with the right elements of governance, tertiary, professional and allied industries etc. The creation of a focused and well-crafted Unique Value Proposition (UVP) through actual operation rather than just aspirational words is key. This suggests that governance platforms, vision, partnering, precinct development protocols, methodology of investment attraction and commercial return on investment modelling must align with the UVP. 
The sector has arrived in Australia and is here to stay. How existing Australian precincts can be modelled to ensure the right balance of commercial and social benefit to make them sustainable and self-sufficient is still debatable and not yet achieved. We now have a property class taking shape and morphing into its own sector. With smart planning, appropriate sector specific advisory, along with appropriate governance, this sector has the ability to become a highly sought-after investment offering.    
Lawson Katiza is an Associate Director of <a href="http://www.savills.com.au/services-and-sectors/project-management.aspx" target="_blank">Savills Project Management</a>, and state lead for Advisory and Commercial sectors. Savills Project Management is a Tier 1 project management and social infrastructure advisory specialist and a division of <a href="http://www.savills.com.au" target="_blank">Savills Australia</a>, an integrated property solutions company.
</body></html>

Creating knowledge-based ecosystems through science and technology: Savills

<html><body>
The US and UK are the most mature student housing markets, and continue to dominate global investment deals, but new stock developed now in Europe and Australia paves the way for institutional investment in the future, according to a recent Savills report.
<a href="https://www.propertyobserver.com.au/images/2017/11/10/SavillsNov15Chart.png" target="_blank">Click to enlarge</a>
<img src="https://www.urban.com.au/images/2017/11/10/SavillsNov15Chart.png" alt="">
Student Housing (SH) yields and sector comparisons:
<a href="https://www.propertyobserver.com.au/images/2017/11/15/SavillsSH.png" target="_blank">Click to enlarge</a>
<img src="https://www.urban.com.au/images/2017/11/15/SavillsSH.png" alt="">
<div class="layoutArea">
<div class="column">
Yields 
The US market stands out as particularly high-yielding for such a mature market. We expect yields to move in as institutional involvement increases, the sector matures and perceived risk diminishes. Although they are less developed markets, there is also potential for further downward yield shift in Australia and Spain over coming years. Whether Germany, the UK and France are fully valued at 3.75%-4.5% will depend on how much scope there is for rental growth in their main university cities. The gap between residential and student housing yields remain, although we expect it to narrow. 
</div>
</div>
<div class="layoutArea">
<div class="column">
Source: <a href="http://pdf.euro.savills.co.uk/global-research/world-student-housing-2017-18.pdf?utm_source=PropertyObserver&amp;utm_medium=DigitalAdvert&amp;utm_campaign=CPOeNewsletterBanner-WorldStudent-8Nov2017&amp;utm_source=Property+Observer+List&amp;utm_campaign=24caa627fb-Commercial_Property_27_September_2017&amp;utm_medium=email&amp;utm_term=0_a523fbfccb-24caa627fb-245615189" target="_blank">Savills World Research</a> 
</div>
</div>
</body></html>

Australia leads in student housing yields: Savills

<html><body>
Paris is a top-tier world city that offers value on a global stage.
The Savills combined world city ranking for connectedness, competitiveness, power and performance often places Paris third, after London and New York.
But several years of more muted performance have left residential costs significantly lower than its rivals.
However, with a new political regime, historically low interest rates and building consumer confidence, the residential market has now possibly turned.
Prices in the prime Paris residential market rose by 4.3% in 2016 and the pace of price growth has picked up in 2017.
“Stock levels have been starting to contract over the last year which will continue to push prices higher in the coming months”, said Hugues de La Morandière, partner of Savills residential in Paris.
Across the whole market, prices stood at €8,430psm in February 2017. Leading indicators from Notaires suggest a price of €8,700psm in June 2017, bringing price growth to 7% for the last 12 months.
In the prime market, prices have also grown from a 2014 low, averaging between €12,000 and €18,000psm, while exceptional properties are trading for between €20,000 and €30,000psm. 
Values in the 1st, 4th and 5th arrondissements have already exceeded their 2012 peak.
Paul Tostevin, associate director, Savills World Research, said recently the recovery was being driven by domestic demand.
"Activity has been buoyed by record low interest rates and more-competitive asking prices.
"This year, the prospect of interest rate rises has encouraged more buyers to close deals and stock levels have fallen.
“Overseas buyers accounted for just 9% of the prime market in 2016, but we expect them to grow in importance. 
"The new Government will bring clarity on legislation and a period of relative stability.
"This could encourage buyers who have been waiting on the sidelines to act, including expat French citizens looking to return home.”
<a href="https://www.propertyobserver.com.au/images/2017/06/23/Screen%20Shot%202017-06-23%20at%2010.00.43%20am.jpg" target="_blank">Click to enlarge</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/2017/06/23/Screen%20Shot%202017-06-23%20at%2010.00.43%20am.jpg" alt="">
<a href="https://search.savills.com/com/en/list#/r/list/property-for-sale%252Ffrance%252Fparis%252Fgbp%252Fdesc" target="_blank">Prime Paris</a> is characterised by apartments of the Haussmann era, with limited new development. 
Consequently, modern buildings with high levels of services and amenities (a type favoured by wealthy international buyers) are relatively rare in Paris.
Pied-á-terres, larger apartments and mansions are favoured by both French and international high net worth individuals (HNWIs).
Family apartments are sold mainly to the French.
Overseas buyers accounted for 9% of prime Paris sales in 2016, down from a peak of 14% in 2008.
Americans, who benefit from a strong dollar, dropped from 21% of foreign buyers in 2015 to 16% in 2016.
Other Europeans are the largest single foreign buyer group (39%), led by the British, Swiss and Belgians.
The Chinese, a huge tourist group, have yet to make their mark as property buyers.
The perception of France as a high-tax location has weighed on the prime markets.
But Savills analysis of buying, holding and selling costs in major world cities suggests this is unfounded.
Property taxes and fees are, in fact, average by global standards.
Purchase costs in particular, are lower than many rival cities. Hong Kong, Vancouver and Singapore all levy an additional 15% stamp duty on foreign buyers (on top of existing stamp duties).
Beyond property, France’s much quoted 75% income tax rate is not payable by those whose source of income is from another country.
Paul Tostevin suggested the election of Emmanuel Macron as the new French president should mean a period of stability for the Parisian residential market.
"Reduced political risk in Europe coupled with pro-business reforms could result in renewed economic growth and stimulate the residential markets. 
"The abolition of Wealth Tax (ISF) will improve France’s attractiveness to HNWIs, although taxation on real estate at the current ISF thresholds are set continue.”
Mark Harvey, head of European sales at Knight Frank, noted last month that online searches for French property on Knight Frank’s website had increased by 97 per cent in April 2017 compared to March, and across the country 30,909 properties changed hands in the first quarter of 2017, up 8 per cent on the same period in 2016 and 29 per cent on 2015.
Despite price growth in the prime Paris residential market of 7 per cent in the past 12 months, less than 15 per cent of HNW buyers are foreign, compared to around 60 per cent in London, according to Savills.
It seems Paris’s high-end housing stock is typified by gloomy 19th-century apartments whose stuffy interiors are worlds away from the open-plan, wrap-around glazed affairs favoured by most international buyers.
‘Unlike London, where there are upwards of 20-25 large developments going on, in Paris there are fewer than three," Hugues de la Morandière told the Spear's wealth management website last month.
"Consequently, Paris tends to be less attractive to people who want something of international standards, although there is a new trend of interior designers renovating older apartments into something more modern."
</body></html>

Confidence returns to Paris residential market says Savills

<html><body>
Camberwell's popular T2 premises has sold for just over $6 million.
It was a private sale between local investors, negotiated by Savills Australia.
The 275sqm primary-grade retail investment asset at <a href="https://www.commercialrealestate.com.au/property/596-burke-road-camberwell-vic-3124-2013810937" target="_blank">596 Burke Road</a> transacted for $6.008 million, reflecting a yield of 5.11 per cent.  
T2 shares the premises with gift and home décor store, Montebello Emporium.
Savills Australia’s Nick Peden, Jesse Radisich and Benson Zhou brokered the deal, achieving a strong land rate of $22,007 per sqm.
Peden said investment opportunities in the metropolitan markets of Camberwell and Hawthorn had been hotly contested this year.
“This is the latest in a string of sales we’ve concluded in the area,” Mr Peden said.
“In 2017 alone, Savills has sold seven prime properties, ranging in value from $5.5million to $15million.”
</body></html>

T2's Camberwell shopfront changes hands

<html><body>
Savills have prepared charts on major retail development analysis across Australia.
It shows stock under construction and national development by retail type.
<a href="https://www.propertyobserver.com.au/images/2017/10/27/Retail-Construction.png" target="_blank">Click to enlarge</a>
<img src="https://www.urban.com.au/images/2017/10/27/Retail-Construction.png" alt="">
<a href="https://www.propertyobserver.com.au/images/2017/10/27/Retail-Dev.png" target="_blank">Click to enlarge</a>
<img src="https://www.urban.com.au/images/2017/10/27/Retail-Dev.png" alt=""> 
</body></html>

Major Australian retail development analysis: Savills

<html><body>
A corner retail freehold building with an approved permit for a boutique, mixed-use project in Melbourne’s Brunswick East has been listed for private sale.
The <a href="https://commercialpropertysearch.savills.com.au/2888ad3f-b499-e711-80d1-005056816353/Sale/Brunswick-East/70-Lygon-Street" target="_blank">70 Lygon Street</a> property has a building area of 258 sqm and comprises ground level retail and a four-bedroom apartment.
It has a monthly tenancy providing flexibility, according to Savills agents Jesse Radisich, Clinton Baxter and Benson Zhou of Savills.
The land area is 229 sqm.
Zoned Commercial 1, the site has a permit in place for a boutique, luxury project comprising retail, townhouses and an apartment.
<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/2017/10/31/Brunswick.jpg" alt="">
The engineering drawings are complete, so construction can start immediately.
The property is well located within a retail strip and has good transport connections..
It sold for $1,697,000 in 2010, and in 2014 at $1,825,000, and then was again advertised for sale in 2016, according to CoreLogic RP Data.
</body></html>

jonathanchancellor-7SQnKwU6yx

Retail mixed-used building in Melbourne's Brunswick East for sale: Savills

<html><body>
One of the first mixed-use development sites in Sydney’s Inner West suburb of Burwood within The Parramatta Road precinct is set to hit the market through Savills.
Located at 318-324 Parramatta Road, the site has four separate lots accommodating three detached commercial dwellings situated on nearly 3,664 sqm of land.
The sale is being managed by Neil Cooke, Stuart Cox and Johnathon Broome of Savills Australia.
The site will be sold through an expressions of interest campaign closing November 15.
It benefits from being situated within the finalised Parramatta Road Urban Transformation Strategy carrying with it a proposed maximum height limit of part 21 metres and part 24 metres; a part 2.1:1 and part 2.4:1 FSR and a part B4 Mixed Use and part R3 Medium Density Residential zoning which lends itself to a premium mixed use development subject to council approval.
It is close to transport and the local business hub.
The elevated nature of the site provides the property with panoramic district and city views to the eastern elevation and Blue Mountains views to the western elevation, via a redevelopment of the site, according to the agents.
There is potential for 8,404 sqm* of Gross Floor Area (GFA), 8,016sqm* of Residential GFA and 375sqm* of commercial/ retail GFA, according to Savills. 
A concept scheme has been prepared for the property allowing for 104 residential apartments and ground floor retail space.
The three-detached single storey commercial/light industrial dwellings all with associated on-grade hard stand parking currently return $359,767 per annum of gross holding income. 
Each of the three properties will be offered for sale subject to ‘Going Concern.’
<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/2017/10/17/ParramattaRd2.jpg" alt="">
The Greater Sydney Commission, which manages the Parramatta Road Urban Amenity Improvement Program, will work with the six councils to deliver the projects in partnership.
The Greater Sydney Commission’s Chief Commissioner Lucy Turnbull AO said the projects have strong community support, according to a recent NSW Government press release.
“As Sydney grows, it will be more and more important that we enhance the liveability of our suburbs by creating great spaces where people will want to live and work and are encouraged to get out and walk or cycle or relax in well-designed opened spaces,” Turnbull said.
Stuart Cox said Burwood is a well-established suburb which has developed into a mixed commercial and residential precinct and hence a lot of interest was expected from high net worth investors and developers.
 
</body></html>

Savills

Editor's Picks

Have something to contribute?

Developments

New apartments

New townhouses

News

Savills

Editor's Picks

Receive the latest news stories to your inbox

Have something to contribute?

Developments

New apartments

New townhouses

News