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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The vacated Sirius social housing apartment complex in Millers Point has been sold for $150 million by the NSW government.
The buyers are planning to ­refurbish rather than demolish the 11-storey Brutalist building which will become 89 luxury apartments after its sale by Savills.
It has been bought by a company directed by Jean-Dominique Huynh, a 35-year-old Vaucluse-based businessman associated with the gold and copper mining investment company JDH Capital.
Built in the 1970s to a design by architect Tao Gofers, its last social housing residents moved out over a year ago.
Housing Minister Melinda Pavey said the sale proceeds would fund more social housing.
“This is expected to provide housing for around 630 people, helping the most vulnerable members of our community,” she said.
Sales of 189 dwellings in neighbouring Millers Point since 2014 have delivered more than $750 million for more than 1500 new residential units.
The buyers are planning to refurbish the brutalist building into 89 apartments.
<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/2019/7/1/SIRIUS2.jpg" alt="">
Melinda Pavey, Minister for Water, Property and Housing, said proceeds were expected to provide housing for around 630 people.
“There are around 55,000 people on the social housing waiting list. The sale of the 189 dwellings in neighbouring Millers Point since 2014 have delivered more than $750 million for more than 1500 new residential units, with around 1300 already constructed.
“We have the largest social and affordable housing building program of any state or territory in Australia. These asset sales have meant we can create more than four new homes for every one sold.
The Sirius building opened in 1981 and had acted for social housing until January last year.
A prominent examaple of Brutalist architecture in Australia, Sirius houses 79 one, two, three and four bedroom apartments. Most apartments have harbour and city views, with the rooftop a 360 degree view across both.
Savills agents Simon Fenn, Stuart Cox, Neil Cooke and Michael Simpson were marketing the property through an international sales campaign with the opportunity for a variety of uses through the flexible zoning application to the 3,650 sqm site.
On its marketing launch, Savills NSW managing director Simon Fenn said this was a once in a lifetime opportunity.
“Sirius is positioned on some of the most valuable land in Australia and will certainly attract interest from around the globe, with a once in a lifetime opportunity to revitalise this prime site with a range of potential future scenarios including residential, commercial, hotel and retail or a mix of these.”
“Never before has a building with such unobstructed and striking harbour views within the heart of Sydney been offered to the market. A proposal like this is certainly one in a million,” he continued.
This article was first published in the Saturday Daily Telegraph.
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jchancellor-FAypfDUnLy

Sirius at Millers Point sells through Savills

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SPONSORED POST
Sydney’s City Fringe suburbs have really hit their stride as investors and tenants look further afield, seeking the best of both worlds; the city lifestyle without the competitive rents and small office spaces, and a buzzing atmosphere just a stone’s throw from the heart of the city.
Darlinghurst is one of those suburbs that has come a long way since being the epicentre of Sydney’s underworld during the early 20th Century. 
Now the suburb is known as Sydney’s foodie haven and best small bar scene, as well as being home to a plethora of designer boutiques, art galleries and coffee houses on every corner.
Transforming over the years to meet the demand of residents, Darlinghurst has a rich history engrained in the atmosphere of the area and architecture of buildings. The expansion of the Sydney CBD landscape has shaped the Darlinghurst commercial businesses and residential dwellings into highly sought after space. 
Bordering Darlinghurst to the west is Museum Station and east is Kings Cross Station, which has undergone dramatic transformation to accommodate for changing demographic. Adjoining Darlinghurst is Surry Hills, which has had $3 billion spent on new major projects such as Sydney Light Rail, Sydney Metro and the Central Station redevelopment. Each project will provide unparalleled access to the greater metropolitan of Sydney through bus, train and light rail options. 
In light of this, Savills, as exclusive selling agent, is pleased to present a rare opportunity to acquire a two storey freestanding office warehouse building at <a href="https://www.commercialrealestate.com.au/property/278-palmer-street-darlinghurst-nsw-2010-2015391698" target="_blank">278 Palmer Street, Darlinghurst</a> (below). 
<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/2019/6/25/278%20Palmer%20Street%20Darlinghurst.jpg" alt="">
The property has a total building area of approximately 640sq m and offers endless value-add potential, development upside (STCA), strong rental demand and connectivity to a multitude of transport options and is surrounded by incoming infrastructure.
The building is well positioned to benefit from several government funded projects that will enhance the Darlinghurst and City Fringe appeal and access to Sydney’s CBD, such as the $3 billion* upgrade of Sydney Central Station including new metro platforms, shops, restaurants and a 180-room luxury hotel on the top floor. The main terminus upgrade of $2 billion is currently underway to facilitate the Sydney Metro platforms and a new retail precinct, with the scheme outlining a long term completion date in 2035 featuring the hotel and new commercial precincts. 
According to David Hickey, Senior Executive, <a href="https://www.savills.com.au/services-and-sectors/sales-and-investment/metropolitan-and-regional-sales.aspx" target="_blank">Metropolitan &amp; Regional Sales at Savills Australia</a>, Darlinghurst is in huge demand as tenants are looking for more affordable office buildings, many of which are seeking half the amount of rent that a B grade building in the CBD would cost.
“The Sydney CBD will always remain popular, however when a B grade office building is seeking rents of $1,500 a square metre, a more affordable option, less than two kilometres from the CBD is a very practical solution for many tenants.
“Even Darlinghurst’s neighbouring suburb of Surry Hills is another expensive option, with rents at circa $850 a square metre, compared to Darlinghurst’s $700 a square metre” he continued.
278 Palmer Street is 220 metres from Oxford Street bus stop and less than 800 metres from Museum train station and just 1.3km from Central Station.
Mr Hickey said “There is plenty of rental upside for this office warehouse and we forecast strong capital growth potential, as this asset has potential to occupy, invest, subdivide or develop (STCA) with current FSR of 3.5: 1 and height limit of 12 metres in favourable R1 Zoning Precinct.”
278 Palmer Street Darlinghurst is offered to the open market by way of public auction on-site at 12pm Friday 26 July 2019 through David Hickey at Savills Australia.
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. David Hickey is a Senior Executive in the Metropolitan &amp; Regional Sales team. To learn more about Savills, visit <a href="http://www.savills.com.au/" target="_blank">savills.com.au</a>.
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jrobinson-rf4aSBido9

The rebirth of the Sydney City Fringe office market

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An Australian owned and operated energy storage company has secured a brand new speculative built warehouse facility in Darra to house their operations.
RedEarth Energy Storage have leased the 2,024 sqm space located at 15 Fienta Place for $120 per square metre, in a seven year deal negotiated by Chris Young of Savills.
Executive of Savills Industrial and Business Services, Chris Young said the transaction was negotiated with a fitout incentive in place.
“An ‘innovation centre’ will be built, from which RedEarth will conduct research and development, there will also be a control room built for the monitoring of its battery fleet, plus a staff training room,” Mr Young added.
RedEarth engineer and manufacture a range of solar battery systems, including both on and off-grid storage and hybrid energy storage.
Executive Director of RedEarth Energy Storage, Charles Walker reports that they plan to make and sell over $70 million of Australian-made energy storage systems by 2022.
The property is set to benefit from the next stage of the Ipswich Motorway upgrade, which will see a new off ramp onto Kimberley Street built.
“This will make the site accessible from the motorway within minutes,” Mr Young said.
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Savills secure Darra warehouse lease for RedEarth Energy Storage

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The future of Australia’s retail investment sector is positive, despite mounting noise suggesting otherwise, according to Savills.
Savills Australia’s Ben Parkinson and Rick Silberman have responded to the prevalent negative commentary, saying that the existing demand for retail-grade investment property was as strong as they had seen.
Silberman maintains a positive outlook, referring to various neighbourhood shopping centre transactions, including the recent sale of Coburg North Village on a yield of 4.74 per cent.
“Despite the consistent doom and gloom commentary regarding the retail landscape, much of the negative bias needs to be taken with a grain of salt,” he said.
“At the coalface, the demand for quality retail investment property is as strong as we can recall, as the fundamentals in most cases remain strong – land-rich assets and quality, reliable tenants with long, secure leases.”
Silberman went on to say that the “retail naysayers” failed to consider the full retail context. “Every retail asset needs to be assessed on a case by case basis,” he said.
“The retail investment market covers many subsects and is therefore much too broad to paint with the same brush.
“The demand for certain retail assets continues to be strong, which we do not see abating any time soon.
“We need to delve a little deeper to understand what works and what doesn’t – while some retail assets might be struggling due to overexposure to fashion and discount department stores, there are others that provide quality tenant mixes in ideal locations with non-discretionary offerings, and those that tick these boxes continue to be sought after and considered as secure retail investment opportunities.”
Ben Parkinson, Savills national head for retail investments, cited the recent RBA announcement, which cut interest rates to a record low of 1.25 per cent, and said this was likely to fuel more demand and activity.
“There is a significant amount of capital from privates and syndicates looking for a home,” he said.
“Their money isn’t doing much in the bank and retail investment provides sound returns for these investors.”
Parkinson said he and Silberman regularly spoke to buyers with a strong interest in securing neighbourhood shopping centres, standalone supermarkets and single-tenanted retail assets, which were widely considered to be the most tightly held assets across all commercial sectors.
“This area of retail remains a highly sought-after asset class that provides quality covenants and long leases,” he said.
“Quality retail investment assets offer a secure cash flow, high occupancy rates and, in most cases, are land-rich assets that are suitably zoned to offer future potential – three critical factors on most wish lists for commercial real estate investors.”
Silberman said that the investment fundamentals of well-located sites with strong underlying land values and underpinned by top-20 ASX-listed covenants on long leases could not be overlooked.
“Investors are seeing huge opportunities in the current retail market, given the yield spread compared to other asset classes, and the attractive income returns available for quality retail assets,” he said.
“The difference between prime commercial and industrial yields and quality retail yields is simply too great to ignore.”
For more information from Savills, <a href="https://www.savills.com.au/" target="_blank">click here</a>.
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Australia’s retail landscape not all “doom and gloom”: Savills

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Coles Group has sold its latest Kedron Centre for $34.24 million, setting a new record as the largest freestanding supermarket sale for Queensland.
Savills national director Peter Tyson negotiated the sale to a Melbourne based investor.
The sales tops the $30.25 million sale of the Coles Pacific Pines in 2017. Last year Coles Alderley sold for $30.2 million.
Savills agents Peter Tyson, Ben Parkinson and Steven Lerche fielded enquiry from local, interstate and offshore buying groups.
“The supermarket’s high-exposure location on the outbound side of Gympie Road, within seven kilometres north of the CBD was a valuable drawcard” Peter Tyson said.
“Coles Kedron’s highly convenient freestanding design differentiates it from larger, less-convenient surrounding shopping centres, ensuring it will remain attractive to shoppers in the long term.”
The 4,092 sqm complex was developed by Coles Group and opened in late 2017. They acquired and consolidated the site over an extended period of time.
It comprises three tenancies, a freestanding 3,915 square metre Coles Supermarket and Liquorland store, plus a Coles Express service station and a café tenancy. 
The centre was fully leased and provided long lease security with a weighted average lease expiry of 14.7 years, underpinned by a 15 year lease to Coles.
 
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Kedron Coles sale sets record as the largest freestanding supermarket sale in Queensland

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A Park Ridge retail centre on the Mt Lindesay Highway has sold to a local investor for $4.17 million.
Situated at 3722 Mt Lindesay Highway, the centre comprises a modern single level building fully leased to 7 food-based specialty tenants including Domino’s Pizza, Subway and Noodle Box.
The sale was negotiated by Jon Tyson and Michael Harcourt of Savills Retail Investments.
The property sold off-market via a discreet private placement campaign.
Mr Harcourt said, “we received strong interest from select investors due to the property’s solid tenant line-up and excellent location just off the Mount Lindesay Highway.” 
“The Centre enjoys exposure to over 40,000 passing vehicles daily and adjoins a McDonalds drive through restaurant and the Woolworths and Coles anchored Park Ridge Village Shopping Centre,” he added.
Savills Director of Retail Investments in Queensland, Jon Tyson said demand for quality retail investments remains strong amongst a range of investor groups.
“Yields have remained firm due to solid investor demand coupled with limited supply stemming from the tightly held nature of these assets,” he said.
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Savills successfully market Park Ridge retail centre

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Savills are set to list The Premium Inner City Portfolio, four premium high profile assets in Sydney's Chippendale, Darlinghurst and Ultimo.
The four commercial buildings, offered in one line or separately, have the income potential of around $10 million per annum when all fully leased.
The portfolio is dominated by space near Broadway, with two buildings in Chippendale and one bordering Chippendale and Ultimo.
The biggest is 55-59 Regent Street in Chippendale (main picture) which has 4,100 sqm of net lettable area (NLA) of office space on a 2.34 year weighted average lease expiry (WALE).
Nearby is 8-14 Broadway, currently The Posh Hotel (below), also comprises 320 sqm of NLA retail space. The Posh Hotel has 32 hotel rooms across four levels with a WALE of 4.25 years.
The building last sold for $3.41 million in 2006.
<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/2019/5/29/POSH.jpg" alt="">
On the same street, but classed as Ultimo, is 137-145 Broadway (below).
The building has two levels of accomodation above a 550 sqm retail space on a 2.81 year WALE.
It last traded for $3 million in 2008.
<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/2019/5/29/Broadway%20Ultimo.jpg" alt="">
The final piece of the portfolio is further afield in Darlinghurst (below), the smallest building which is currently the 16 room Sydney Boutique Hotel.
The building at 114 Darlinghurst Road has 190 sqm of ground floor retail.
It last sold for $5,715,000 in 2016.
<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/2019/5/29/Darlo-Boutique.jpg" alt="">
Savills Australia's Tom Tuxworth, who is marketing the properties with David Hickey, Jordan Lee and Nick Lower, said beyond each asset’s outstanding location, the properties offer a strong diversified income stream.
“The portfolio lends itself to the opportunity to add value through repositioning, redevelopment and/or re-leasing as expiries arise capitalising on leasing demand strong market conditions”. 
The Sydney City Fringe is an extremely tightly held market, with only two commercial assets trading thus far in 2019 over $15m.
“The significant investment into infrastructure with projects underway in Sydney's City Fringe such as; The Central station re-development, Sydney light rail &amp; Sydney Metro will ensure better connectivity and amenity for tenants and occupiers, giving security of demand providing buyers with risk-averse investments.
Tuxworth said investors and owner-occupiers are drawn to the convenient nature of these locations and the surrounding premium amenity that it provides, resulting in excellent hotel occupancy rates and record high office rental returns coupled with sub 3.00% vacancy (Dec-18).
Recent projects, like Frasers Central Park has brought a new found retail activation and an abundance of amenity to the surrounding area.
“Despite some previous stigmas, the city fringe has established itself as one of Sydney’s fastest growing markets for high-rise developments and has seen extraordinary year on year rental and capital growth," Tuxworth said.
"For many years, the Sydney City Fringe has been a home for local investment groups, however, more recently has seen a strong following from buyers out of South East Asia and different parts of the Middle East and China.
 
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Premium inner Sydney portfolio listed for $120 million through Savills

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SPONSORED POST
Key indicators have pointed towards a recent outperformance of expectations for assets located in the Brisbane Uptown precinct. The recent spike in activity has been attributed to trending building upgrades to include shared areas for collaboration and additional building services.
According to <a href="https://www.savills.com.au/research/australian-research.aspx" target="_blank">Savills Research</a>, proactive landlords have enhanced their respective assets by investing significantly through the refurbishment of ground floor lobbies, construction of speculative fit-outs, café amenity space and end of trip facilities.
<a href="https://www.savills.com.au/services-and-sectors/leasing/office-leasing.aspx" target="_blank">Savills Office Leasing</a> Analyst, Hao Chen has identified an uplift in face rents for buildings in this precinct.
“A 5–10% gross face rental growth has been recorded on assets within the Uptown precinct that have undergone capital investment, resulting in a tightening to the overall vacancy factor in the last 12 months,” Mr Chen said.  
Savills Research has recorded an 8.1% drop in vacancy for the uptown precinct in the 12 months to May 2019, currently sitting at 11.9%.
“Landlords who invested into their assets in this precinct last year are now reaping the rewards, providing smaller, agile tenants in the market more favourable office accommodation.”
“Building enhancements and upgrades are becoming an expectation, it seems to be what tenants are looking for and are starting to ask about the buildings capital works plans if the building is starting to look tired upon inspection,” Mr Chen said.
These upgrades form part of landlords’ long-term leasing strategies to add value and enhance the tenant experience, incorporating strategies not only to attract tenants but to also retain them following initial lease expiry.
Mr Chen reports that landlords are strategically repositioning their assets in the market to create a highly desirable commercial address, which incorporates modern design elements and market leading architecture.
In addition to many obvious foyer and end-of-trip facility upgrades, environmental factors are also being considered which include the installation of energy efficient lighting to reduce energy usage and water consumption technology. 
Daniel Paxton of <a href="https://www.savills.com.au/services-and-sectors/leasing/office-leasing.aspx" target="_blank">Savills Office Leasing</a> said that one of the best examples of this trend has been evident with the ISPT upgrades at 100 Creek Street which has resulted in a 25% vacancy reduction. 
“Over the past 12 months, ISPT have staged their upgrade processes to not only ensure they capitalise on a premium product offering, but integrate the re-set into the larger marketing and leasing strategy for the building,” Mr Paxton said.
The significant transformation of 100 Creek Street included not only the upgrade of lobby, lifts and end of trip facilities but also the first of its kind digital canvas centrepiece wrapping around the lift core.
Its design inspiration was aimed at reconnecting tenants to the city’s subtropical surrounds. It features double height pivot door technology, with the lobby opening up to seamlessly meet the city streetscape and embrace the Queensland climate.
Since June 2018, more than 3,000sq m has been leased at the newly repositioned address, with a flight to quality trend that is being washed through from the bordering financial precinct. 
“100 Creek Street is standing out as a major value proposition for tenants as it offers a sophisticated corporate identity without the Eagle Street price tag,” Mr Paxton said.
Another standout example where refurbishment has been a success is Hines’ enhancements at 348 Edward Street.
With substantial capital invested into building refurbishments and upgrades, enhancements include a new ground floor lobby and foyer to include a café offering, fitted suites, two new chillers and the refurbishment of all lift amenities and on floor bathrooms.
<a href="https://www.savills.com.au/services-and-sectors/leasing/office-leasing.aspx" target="_blank">Savills CBD Office Leasing</a> Executive Daniel Byrne said that in the last 12 months 348 Edward Street has seen a 30% vacancy reduction.
“The primary drivers that have contributed to this take up involve landlords offering ‘plug and play’ suites, the right value proposition and an aesthetic refurbishment upgrade,” Mr Byrne said. 
The retail café offering is strategically repositioned to be the only tenant in the lobby with dual inside-outside trading ability, which has been an investment decision focused on driving rents.  
“They made a decision to be forgoing rental to look after their tenants in terms of giving them better amenity, all contributing to the experience of the destination.
“The lobby is now an extension of the office. Increasingly, building owners are looking for places where employees can work, meet, and relax,” Mr Byrne said.
My Byrne said that since the upgrade, tenants have been increasingly more attracted to the prospect of 348 Edward Street, reflective through increased enquiry and inspections of the building.
These are only two examples of landlords who have led the charge in the refurbishment space and are now being backed by the market with the increasing demand for their new product offerings. 
The future looks bright as the market is now in favour of this movement. Brisbane Uptown precinct assets are paving the way for the future, which in turn will continue to improve amenity supply across the board for all Brisbane occupiers.
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. Hao Chen, Daniel Paxton and Daniel Byrne are members of Savills QLD 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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Brisbane Uptown precinct outperforming expectations: Savills

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Coles Amaroo Village, a new shopping centre located in the northern suburbs of Canberra, is set to be offered for sale.
Steven Lerche and Nic Purdue of Savills Australia and Philip Gartland and William Blanch of Stonebridge have been exclusively appointed by Coles Group Property Development Ltd to sell the centre.
Comprised of 4,600 sqm the centre features a non-discretionary tenancy mix, with 80% of the gross floor area secured to Coles and Liquorland on a brand-new long-term lease.
Complemented by eight specialty shops including a pharmacy, real estate agency, barber, Indian Grocer and various food offerings.
According to Savills, the ACT retail investment market has continued to be extremely tightly held, with only 3 retail properties between $15m to $40m transacting in the past five years. 
Independent research firm MacroPlan Dimas found, the trade area’s population is forecast to grow by 3.8% p.a. to 2031, more than double the Australian average of 1.4% p.a.
Located at 815 Horse Park Drive, Amaroo, it is the only full-line supermarket within the catchment and the centre produces an estimated Net Income of $1,850,000 p.a.
Savills Australia National Director of Retail Investments, Steven Lerche said “Amaroo Village is an outstanding convenience and non-discretionary retail hub, ideally located within the town centre. The strength and appeal of the town centre will be enhanced with the only Aldi in the area, located opposite the site, under construction and due for completion late-2019.
The site is within walking distance to the northern suburbs’ two major schools and a day care centre.
Mr Lerche added, “neighbourhood centres along the East Coast, particularly in the major capital cities, regularly command yields of sub 6%, as seen in the sale of Cranebrook Village at 5.30% in Western Sydney, Woolworths Caloundra at 5.67% on the Sunshine Coast and Coburg North Village in Melbourne rumoured to be sub 5%."
“Investors place a premium on neighbourhood centres offering a net lease structure such as that offered at Coles Amaroo Village,” he concluded.
Savills and Stonebride anticipate Amaroo Village will receive high levels of interest from a variety of local and international groups.
The international expressions of interest campaign being run by Savills and Stonebridge closes June 19th 2019.
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Savills marketing Amaroo Village shopping centre in Canberra

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Insurance giant Youi have taken a lease at Gateway Office Park at Murarrie, one of Brisbane's most sought-after office parks. 
Youi have taken 880 square market of office place on the second level of the building.
The new office space will serve to house specialist skills such as software development and marketing.
Savills agents Shaw Harrison, Jason O'Meara and Wes Woodroffe negotiated the lease.
Harrison said they were looking for accommodation for Youi in the more traditional areas like Milton, Newstead and Woolloongabba, however they found the location at Murarrie a suitable fit.
“They found that the location was ideal for their team and assessors to gain access onto the road networks,” Harrison said. 
Previously occupied a smaller building in Hendra, the new lease at Murarrie will provide Youi with additional space to accommodate their future expansion plans. 
Harrison said the interest in the Gateway Office Park accommodation to date has been overwhelming. 
“We are seeing a trend infringe occupiers seeking to occupy in more traditional industrial locations,” he said.
“Tenants that are normally occupying an office or warehouse facility are seeking out more corporate accommodation in stand-alone office premises that provide them with a more solid corporate identity.”
Savills also negotiated the leasing of professional services firm Acclario IT on a lease in the same building.
Acclario leased 435 square metres on the ground floor with an existing fitout in place.
Acclario managing director Peter Birbeck described the moving process as streamlined.
“The whole transition including the negotiations, and planning for the move from the existing building was painless and streamlined,” Birbeck said. 
“Savills were very professional and courteous, which made the whole process less painful than it could have been.”
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