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

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SPONSORED POST
When I read that Myer’s biggest store is now its warehouse, it made me think, ‘Are we at the tipping point’? 
Pressure is on supply chains to perform at speeds not seen before. Traffic demand on our aging city infrastructure means slower transits and higher costs.  But ‘time is the new currency’, and customers are demanding different services. 
Supply chains with relatively cheap warehouses on a city fringe struggle to meet the need. Designed to support ‘bricks and mortar’ shops, are they obsolete? It depends… 
A truly demand-driven supply chain needs to understand who the customer is and develop strategies to profitably serve them.  ‘Segmentation’ is required to match time, place and what customers are prepared to pay for. 
A mix and match network model may be required as a result, so that a ‘one size fits all’ strategy is not blindly adopted. While online is becoming a normalised and accepted form of retailing, the recent NAB Online Retail Sales Index highlights that on-line represents under 10 percent of all retail sales. 
In a true ‘omnichannel’ world, the customer can buy goods and services from many options. For the supply chain, there may be a requirement to service a fast paced ‘pull’ online world, a slower replenishment based model to stores and a ‘push’ supply chain that supports Christmas type events.
Processes that we once fit for purpose need to be refined, economies of scale where attainable should still be exploited and the right locations chosen to enable service at the right time. Finding the best location in a network model needs to contemplate how the inventory will flow, inbound and outbound transport costs, demographics of current and future customers, IT costs, operating costs plus what properties are available now and in the future.
Big Data to the Rescue?
Data is all around us. In the age of ‘Internet of Things’, sensors and data capture, there are massive amounts of data to be captured and purposed. The challenge is how to use it in a model that provides true insights to support supply chain decisions. Building models takes time and expertise. Loading and maintaining the data takes discipline. But fortunately when both come together, quick precise fact based decisions can be made. 
Savills is a leading global real estate service provider offering the full spectrum of services from strategic advice to managing assets and projects and transacting deals. 
Bob Quirk is the Director of Supply Chain, Industrial &amp; Logistics at Savills Australia. To learn more about Savills, visit <a href="http://www.savills.com.au/" target="_blank">savills.com.au</a>.
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Have we reached the supply chain tipping point?

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An office and warehouse located in Castle Hill is being offered to the market
Located in the suburbs industrial precinct, <a href="https://search.savills.com/au/en/property-detail/aus2ms035839s" target="_blank">Suite G, 2 Hudson Avenue</a> offers 1,512 sqm and internal clearance of up to 7.2 metres.
It has two storeys, and there is access via one container-height roller door, and 26 car spaces on title.
Savills are marketing the property which also offers energy efficient solar panels which were recently installed delivering low operational outgoings.
“We expect buyers to be drawn to this offering mainly due to ambient storage, multiple docks, ramp for on grade access and ample room for container and truck access" said David Hickey at Savills Australia.
 
 
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Savills marketing a Castle Hill office warehouse

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SPONSORED POST
According to data from Accru.com, as at the end of May 2019, there are now over 326 ‘unicorn companies’ around the world and since January 2018, 119 new companies have joined the club.  
Unicorn companies are privately owned startups with a valuation of US$1 billion or more. These billion-dollar-babies owe their existence to huge amounts of venture capital.
Topping the 2019 list of Unicorns is China’s Bytedance, an Internet technology company delivering individually tailored news and media content with a $75 billion valuation. Uber is still the world’s second largest unicorn at $72 billion, with Chinese ride hailing competitor Didi Chuxing close behind at $56 billion. The USA still has the most number of unicorns (around half) followed by China with about a third. 
According to Christina Malcolm, Director, <a href="https://www.savills.com.au/services/commercial-leasing/office-leasing.aspx" target="_blank">Office Leasing at Savills Australia</a>, many global businesses, especially tech companies, are choosing to start their empire in a co-working environment, where there is room for expansion, flexible lease terms and competitive rents.
“The Sydney office market is seeing a shift in landlord behaviour – as they become further in tune with what their tenants want and need, offering flexible lease terms, not just in the co-working space but also within the REIT portfolio arena to help deal with expansion.” 
Ms Malcolm said today’s office environment needs to cater for this new age of workplace talent.
“Savvy agents and in turn, landlords are educating themselves about attracting Unicorn status groups and offering an office environment that suits these successful start-ups, technology, wellness, flexibility, location – retaining and attracting staff. 
Ms Malcolm said this is not just a CBD based trend, with a number of regional and interstate landlords breaking the mould and focusing on offering their tenants a better work/ life balance, while future proofing their buildings with inviting and flexible turn-key specs and wellness rooms. 
“Many new tenants are looking for a collaboration culture in their workplace with plenty of amenities and facilities that will keep their employees happy.
“The tenant community is definitely influencing the market,” she continued, “These companies are our future so they have to be aligned with the forward thinking landlord. 
“In a way, landlords are becoming more Chameleon-esque to fit in with the ever changing workplace terrain.
“Buildings are maturing, growing up. In years gone by they would cry (set off alarms) when things were wrong and it was up to the building‘s guardian (building managers) to work out what was wrong. Much like a toddler, buildings were incapable of explaining why they were crying. 
“But now buildings are young adults. Current buildings are akin to Unicorns’ favoured Gen I employees. They are smart, connected, able to communicate, not just advise what is wrong, but also how to fix it, they take the initiative and in some cases fix themselves. They even help write apps to make life easier, they let you, the user, bring your own device and hook it up to access its amenities like lifts, parking, meeting rooms, wellness spaces and end of trip facilities.
“Building owners are using this new found maturity and teaching their buildings to think for themselves by adding Integrated Communication Networks (ICNs) which are only limited by future technological advances”. 
These networks will allow buildings to grow as technology grows and is evidenced by Dexus’ investment in the Skynet platform and Investa’s work with Willow on its digital twin initiatives. 
With long-term retention of assets and tenants being their goal, the introduction of these systems improves the maintainability of the buildings and more importantly, provides options for the tenants to better connect with, customise and more efficiently utilise the building and its amenities.
Savills is a leading global real estate service provider offering the full spectrum of services from strategic advice to managing assets and projects and transacting deals. Christina Malcolm is a Director within Savills Office Leasing team. To learn more about Savills, visit <a href="http://www.savills.com.au/" target="_blank">savills.com.au</a>.
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Fantasy vs. Reality: How Unicorn Groups are influencing the market 

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SPONSORED POST
The previous 12-18 months have seen undeniably challenging conditions throughout Melbourne’s residential development market, leading to a significantly reduced level of development site transactions and even the failure of some prominent development companies.
However, a sudden surge of transactions over the past two months has been indicative of an abrupt confidence boost amongst the city’s development sector from early August onward. 
Three recent interest rate cuts, a shortage of projects being delivered across Melbourne, very tight rental markets, 75%-80% weekend auction results, and record ongoing population growth, are all factors putting immense pressure on the housing sector and giving developers the confidence to snap up sites, and ready themselves for a new wave of construction activity.
The ABC reported that, “The biggest winners from low interest rates will be those taking out a mortgage to buy a home,” with Savills Melbourne having already experienced a significant uplift in residential development site sales, coinciding with the return to 80% weekend auction clearance rates.
“Over the past eight weeks or so, the market for development sites right across Melbourne has completely rebounded with developers again scrambling to secure high quality sites with or without planning permits,” said Clinton Baxter, State Director at Savills Melbourne.
“Melbourne’s population is set to continue its remarkable growth of well over 100,000 people per annum, requiring in excess of 40,000 dwellings to be constructed each and every year.  With construction activity falling off a cliff last year, pressure within the housing market has built up incredibly quickly, and the market has roared back to life since the first week of August.” 
Mr Baxter reported that sites suitable for boutique development, catering to owner-occupiers and empty nester buyers, are in highest demand, followed by infill townhouse sites. “We’ve sold 27 development sites during the past eight weeks for a total of $145 million, with many others currently in negotiation.”
“The leafy inner eastern municipalities of Boorondarra and Stonnington remain firmly at the top of the list for developers, followed by bayside areas in and close to Brighton,” he said.  
“Asian developers, especially those from China, are back in the market in a very big way and actively scouting for suitable purchase opportunities,” said Mr Baxter. “Box Hill and Glen Waverley are particularly popular within these groups, and our recent sale in Burwood saw the top 11 bidders all being of Chinese background.”
According to Savills research, approximately 60 percent of Savills Melbourne development site sales in 2019 have been to either local Asian or off-shore Asian developers, with the highest demand being for smaller projects of 10-50 units. 
“Smaller projects are more easily sellable,” said Savills Asian Services Director Benson Zhou. “And there’s more likelihood of construction funding being readily available.” 
Mr Baxter also commented that, “A demand for student housing and accommodation within walking distance of the major universities, particularly in Carlton and the northern CBD, remains at fever pitch with a significant lack of housing to cater to the fast-rising international student population.”   
He reported an acute shortage of sites available to this market sector, resulting in escalating land values.  
“And it’s not just student housing that’s seen growth,” said Mr Baxter. “Aged care developers are increasingly active in their pursuit of large suburban sites suitable to fully integrated aged care facilities. Ryman from New Zealand is the most active player, with multiple recent land purchases in the middle suburbs.”
“On average land values have jumped 10-20% in just 8 weeks in inner and middle ring suburbs as developers again compete to secure high quality sites.” 
“Melbourne’s residential development sector is leaping out of its short slump!” 
Savills is a leading global real estate service provider offering the full spectrum of services from strategic advice to managing assets and projects and transacting deals. Clinton Baxter is a State Director of Savills CBD and Metropolitan Sales. To learn more about Savills, visit <a href="http://www.savills.com.au/" target="_blank">savills.com.au</a>.
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Melbourne’s residential development sector rapidly rising out of slump: Savills

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A prime Taringa development site in Brisbane's Inner West has been offered to the market 100% preleased to Coles.
The purchasor will obtain the development approvals and construct the development.
Savills National Retail Investments Jon and Peter Tyson are marketing the 5,306 sqm site.
Situated at 216-224 Moggill Road, the site is for sale via an expressions of interest campaign closing October 31.
The Coles lease is for a period of 12 years plus options and includes the construction of a Liquorland.
Located 5.5 km from the Brisbane CBD, the GLA of the property will be 2,840 sqm (proposed).
The freestanding supermarket will be the most convenient in the area, according to the marketing material, with access to over 17.2 million cars annually.
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Savills marketing Inner West Brisbane development site offered with Coles pre-lease

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SPONSORED POST
Melbourne is the most sought after office real estate location in Australia, with unprecedented local and offshore appetite for Melbourne CBD office assets continuing. Part of what is contributing to this trend is the overall cost of capital. With a strong chance of further interest rate cuts in 2019, pressure is building on banks to start freeing up credit. Another major factor is Melbourne’s anticipated rental growth. 
Rents are increasing in Melbourne faster than anywhere in Australia, particularly in the Melbourne CBD. And while investors are naturally attracted to longer leases at lower rents, Melbourne’s market is so strong that we’re seeing an equal amount of rental growth and security with short-term leases at higher rents.  
The trend and history of Melbourne’s rental growth 
There was a time in the mid-2000s when the Melbourne office market was ‘held back’ because of major developments such as Docklands. Since then, to say that Melbourne’s office space has recovered would be somewhat of an understatement.  
Melbourne’s total office vacancy now sits at a record low of 3.3% (including Docklands which now sits at &lt;1%), down from a high of 10% in mid-2004. 
More recently, nearly all of the additional 300,000sq m of CBD Prime office space has be pre-committed. These are developments such as 80 Collins St (South Tower), Collins Arch, Olderfleet, 405 Bourke St, 150 Lonsdale St and Flinders Gate. As further proof of Melbourne’s outperformance, a significant amount of the backfill of these major pre-commit deals have been leased. 
What the fringe says about the city
Aside from low vacancy and pre-committed leases, probably the most telling rental growth factor is the performance of properties in Melbourne’s city fringe when compared to properties in the CBD. 
Traditionally, rents within city fringe areas are cheaper than rents within the CBD, so that when fringe rents are high, we know that CBD rents are even higher. 
There are major pre-commit deals currently being leased at approximately $600/sq m net in areas such as Richmond, Cremorne and South Yarra. ‘A’ Grade CBD rents are currently hovering around sub-$600/sq m net and even some Premium Grade passing rental profiles are reflecting rents at similar levels. Most of the recent Premium Grade deals are pre-commit leases. These deals usually reflect a discount to the sitting market, so there is significant room for growth in the CBD in the short to medium term.
While the attractiveness of long term leases may not be going anywhere (particularly amid current and anticipated interest rate cuts), there’s now a significant strength in short-term options. Demand for CBD office assets with the ability to capture rental growth in the short to medium term (i.e. short WALE), will continue to be on the radar of local and offshore investors. 
Essentially the Melbourne CBD market covers both ‘cash-on-cash’ or ‘running’ yield buyers, as well as a buyer seeking a ‘total return’, whose basic benchmark metric is an internal rate of return (IRR). 
Much of this is predicated on forecasted rental growth. Melbourne’s story for most investors is extremely positive, even for assets with high capital expenditure.  Buyers in this space, generally of a B-Grade nature, are backing rental growth to offset the capex spend, as well as B-Grade assets’ rental profiles reflecting sub-$400/sq m net in the Melbourne CBD.
The investment story bodes well for Melbourne in the short and long term, which is reflective of current transaction volumes, which are at an all-time low. Those that own Melbourne CBD assets wish to capture the growth and those that are looking to purchase have a very strong reason to invest. 
Savills is a leading global real estate service provider offering the full spectrum of services from strategic advice to managing assets and projects and transacting deals. James Girvan is a Director within the Savills Capital Transactions team. To learn more about Savills, visit <a href="http://www.savills.com.au/">savills.com.au</a>.
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Why it’s the right time to invest in the Melbourne office market 

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A local investor has snapped up a KFC in Mentone, southeast of the Melbourne CBD, for over $5.6 million amid a heated international contest.
The premium 2,360 sqm commercial site at 157-159 Nepean Highway saw more than 230 enquiries and 17 offers from local and international investors during its expressions of interest campaign.
The sale, through Savills agents Benson Zhou, Julian Heatherich, and Yvonne Zhou, exceeded the $5 million price expectation.
“The level of interest in the property and attraction to the KFC brand caused the whole agency team to spend late nights and weekends answering enquiries,” said Mr Zhou.  
“Our expressions of interest campaign was especially strong, and the property received over 90,000 views on realcommercial.com.au.” 
Mr Zhou said investors were also attracted to the security, scarcity, and prominence of the KFC investment. 
“KFCs really don’t come up for sale very often,” he noted. “The last comparable sale of a KFC was in 2016 in Altona North.” 
The 157-159 Nepean Highway KFC has invaluable vehicle access onto two of Melbourne’s busiest roads--- Lower Dandendong Road and Nepean Highway. 57,000 cars are estimated to pass the site daily. 
The site currently provides an income stream of $262,836 and is leased on a 12-year term with options to extend until 2043. 
KFC has been operating at the property since 2000. It was refurbished in 2013.
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Mentone KFC sells for over $5.6 million amid heated investor interest

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Property developer Pace has purchased a development site in Hawthorn East.
They've paid $4,062,500 for the warehouse property at 9 Montrose Street which is currently the home of Crossfit Gym. It currently returns $75,000 per annum.
Despite being sold with plans for a nine level apartment building with 34 units designed by Rothelowman, Pace chief executive Shane Wilkinson says the development firm intend to turned the 475 sqm property in to a high-end boutique office building.
“The timing is right for us to take advantage of the record low commercial vacancy throughout the inner eastern suburbs,” Wilkinson said. 
“With the abundance of local amenity surrounding the property, we are confident that a new office project will be very well received by the market.” 
Savills Australia agents Clinton Baxter, Jesse Radisich, and Glenn Ye negotiated the deal with a yield of 1.8%.
It sold at $8,500 per sqm.
Baxter said market development sites had “roared back to life” over the last two months after a “period of stagnancy.” 
“With local and offshore developers snapping up sites and competing aggressively for prime real estate, clearly the looming shortfall in construction activity coupled with ongoing population growth is creating a perfect scenario for developers over the next 1-3 years.”
 
 
 
 
 
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Developer Pace snap up $4 million Hawthorn East site to create boutique office block

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It's been a busy month in Sydney's hole in the wall coffee industry.
Fresh off the back of a <a href="/expert-insights/investing/14-sqm-york-street-sydney-normcore-coffee-premises-sold-for-112-143-per-sqm-at-auction">14 sqm hole in the wall selling on York Street</a>, a <a href="https://www.realcommercial.com.au/property-retail-nsw-sydney-503328030" target="_blank">cafe at 229 Macquarie Street</a> has popped up for sale.
Hole in the Wall Café has been listed for sale with a secure tenant paying $60,106 per annum, with annual two per cent increases.
There are currently 11 years remaining on the lease, with six years + a six year option.
The property comprises a tiny five square metre shop front and a 38 sqm kitchen upstairs on level five where sandwiches are made.
It has been held in the same family for two generations.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2019/9/16/Hole%20in%20the%20Wall%20Cafe%20229%20Macquarie%20Street.jpg" alt="">
Savills agents Tom Tuxworth, Nick Lower and Selin Ince are taking the commercial property under the hammer October 18, with industry sources speculating it will sell in excess of $800,000.
The agents suggest the space gets heavy foot traffic from the surrounding train stations and Law Courts of NSW. 
Kim Beazley and Nick Whitlam are said to have been customers.
Lower says early interest is "incredibly strong."
The listing comes shortly after Savills secured $1.57 million for <a href="/expert-insights/investing/14-sqm-york-street-sydney-normcore-coffee-premises-sold-for-112-143-per-sqm-at-auction">another hole in the wall coffee shop</a> on York Street.
The sale of the Normcore Coffee premises (below) represented $112,143 per sqm, given it's small 14 sqm size.
<img src="https://www.urban.com.au/images/2019/9/16/Normcore%20Coffee%20-%20York%20Street.jpeg" alt="">
The successful purchaser was a Sydney local who was making his first foray in to the commercial property market.
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Hole in the Wall Cafe on Sydney's Macquarie Street listed through Savills

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The Oaks, a former World War II airport 80 kilometres west of Sydney near Campbelltown, has been listed for sale for the first time in over four decades.
The 40.6 hectare property on Burragorang Road is a privately owned aerodrome which was originally built by the Royal Australian Air Force during World War II.
It's the only airport constructed during WWII to still be operational.
Today the airfield caters mostly to recreational aircraft and flight training.
Savills agents Tom and Nick Tuxworth, Nick Lower and Michael Fenton are marketing the heritage-listed site that is one of only four commercially licensed airports in the Sydney Basin.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2019/9/12/The%20Oaks%203.jpg" alt="">
“We are expecting a wide range of interest from local and offshore developers, land bankers, private high net worth families, aviation operators and logistics companies,’’ Tom Tuxworth said.
“100 acres of prime land in this location should be well suited to many astute buyers including Australia leading institutions," Tuxworth added.
“With alternate investments being looked at closely by many buyer groups on the back of a softening bond market and volatile stock exchange, we are excited to see the types of buyers investigate this opportunity further.
"When do buyers have the chance to purchase their own airport in Sydney? We are expecting strong engagement from all parties” Tuxworth noted.
The current owner purchased the airfield in 1975.
In late 1981, the owner acquired a Hawker-Siddeley HS.125 training jet from Qantas and transported it to the field.
The derelict jet (below) has since become a popular attraction with aviation enthusiasts and photographers.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2019/9/12/The%20Oaks.jpg" alt="">
 
The Oaks airfield was constructed in 1942 as a satellite field of <a class="mw-redirect" href="https://en.wikipedia.org/wiki/Camden_Airport_(Sydney)" title="Camden Airport (Sydney)">Camden Airport</a>, at the time a major operational base and RAAF station.
The Oaks was built with a sealed 1,500 m runway and could function as a dispersal base to hide aircraft should the major bases in Sydney come under attack.
 The construction of Burragorang Road between the late 1940s and 1960 as the main access to Warragamba Dam cut across the original runway, and only the southern end of the site is still used for aviation purposes.
 
 
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