Developers and apartment buyers have a narrowing window of opportunity before Brisbane's Olympic infrastructure pipeline begins competing directly with residential construction, pushing up costs, tightening labour supply and making new projects increasingly difficult to deliver.

While Brisbane's apartment market continues to benefit from strong population growth and limited housing supply, industry research suggests the years leading up to 2027 could prove to be the most important period for developers looking to secure builders and buyers hoping to purchase before the next wave of price increases.

A new Colliers report, Brisbane 2032 Olympic and Paralympic Games: Creating Solutions, highlights the scale of the challenge. While thousands of new homes are planned across South East Queensland, the Brisbane Olympic Athletes Village alone will deliver more than 10,500 beds during the Games before being converted into around 1,750 to 2,000 apartments. Equivalent to almost two years of typical inner-city apartment supply, the project will also absorb a significant share of the construction workforce and building materials.

The broader construction pipeline paints an even clearer picture.

Construction Skills Queensland's Horizon 2032 report forecasts Queensland's annual construction pipeline will average $69 billion over the coming years before peaking at $75 billion in 2027-28. Demand for construction workers is expected to increase by 17 per cent to almost 150,000 people, with the industry facing an annual shortfall of around 19,000 workers that could blow out to as many as 35,000 during the peak construction period.

The Olympic venues, athletes village and supporting infrastructure will account for billions of dollars worth of work across South East Queensland through to 2032, creating intense competition for labour at a time when Australia's residential construction sector is already under pressure.

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Colliers Queensland Residential Director Andrew Scriven said the convergence of these projects is creating a clear window of opportunity for both developers and buyers.

"From 2027 onwards, the market will shift dramatically," Scriven said.

"Labour will increasingly be locked into government-led infrastructure and Olympic projects, which means private residential developments will face higher costs and tighter margins. The developers who move now are the ones most likely to get projects off the ground."

Scriven said the same dynamic would also affect buyers, with fewer apartment projects expected to launch once construction capacity tightens.

"If you're looking to change your lifestyle over the next five years, now is your window of opportunity to buy."

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Developers are already positioning themselves ahead of that window.

Following the success of Monarch at Toowong, Consolidated Properties is preparing to launch two new Brisbane apartment projects in the second half of 2026. They include <a href="https://www.apartments.com.au/new-apartments/gloriette-30-bedivere-street-yeerongpilly-qld-4105">Gloriette</a> at Yeerongpilly Green, a 25-storey tower within one of Brisbane's key Olympic precincts, and <a href="https://www.apartments.com.au/new-apartments/castile-47-skyring-terrace-newstead-qld-4006">Castile</a>, a recently approved 25-storey riverfront development at 47 Skyring Terrace in Newstead.

Hutchinson Builders will deliver both projects, with early works already underway at Yeerongpilly and Newstead expected to commence later this year.

The timing comes as Brisbane's fundamentals continue to strengthen, with strong interstate migration, population growth and vacancy rates remaining below 1.5 per cent.

Colliers Queensland researcher Pragya Sharma said Greater Brisbane is forecast to require around 40,000 new apartments between 2021 and 2031.

"There's a real mismatch emerging between when housing is needed and when it will be feasible to build," Sharma said.

"As a result, the period leading up to 2027 presents a key window of opportunity for developers to secure approvals, funding and construction capacity, while buyers will have greater choice before supply constraints intensify."

Colliers research outlines a critical pre-2027 window to start residential projects before labour squeeze: now is the time to buy

Joel Robinson

Developers, buyers on watch in South East Queensland ahead of construction crunch: Colliers

It's taken less than nine months for developer Sherpa Property Group to sell out all 51 apartments in its <a href="https://www.apartments.com.au/new-apartments/flourish-oasis-palm-beach-7-9-sixth-avenue-palm-beach-qld-4221">Flourish Oasis</a> development in <a href="https://www.apartments.com.au/developments/palm-beach-qld-4221">Palm Beach</a>, over a year before its anticipated completion.

&nbsp;

Located at 7-9 Sixth Avenue, the $67 million development has resonated strongly with both local owner-occupiers and downsizers seeking high-quality apartments within walking distance of the beach, dining precincts and everyday amenities.

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Christie Leet, Founder of <a href="https://www.apartments.com.au/developers/sherpa-property-group">Sherpa Group</a>, said the sell-out reflected both the strength of the Palm Beach market and the success of Sherpa's community-first approach to development.

"The sell-out of Oasis is a fantastic outcome and reinforces the strong demand we're seeing for thoughtfully designed apartments in lifestyle locations," Leet said.

"From the outset, our vision was to create a development that genuinely enhanced the Palm Beach community while providing residents with exceptional homes and wellness-focused amenities.

"We've been incredibly encouraged by the level of local support throughout the campaign, 72.5 per cent of buyers are locals, with a significant proportion of purchasers choosing Oasis as their future home rather than an investment."

[smartcode_project:default project_id=151449 project_image_fid=357463]

Construction is now progressing following development approval, with trusted builder LPS Group delivering the project and completion anticipated in Q3 2027.

Oasis forms part of Sherpa Group's successful Flourish collection, which has become recognised for its focus on wellness, community and elevated coastal living.

[smartcode_project:default project_id=151449 project_image_fid=357469]

Residents will have private access to a rooftop amenity space featuring a pool, gym, sauna, steam room, hot and cold plunge pools, spa and barbecue facilities.

"The success of Oasis demonstrates that buyers continue to prioritise quality, location and lifestyle," Leet said.

"We are proud to have delivered a project that has resonated so strongly with the market and look forward to bringing Oasis to life for our future residents."

Sherpa recently launched <a href="https://www.apartments.com.au/new-apartments/flourish-soleira-palm-beach-1150-1160-gold-coast-highway-palm-beach-qld-4221">Flourish Soleira</a>, its third instalment of the Flourish brand in Palm Beach following Flourish Oasis and <a href="https://www.apartments.com.au/new-apartments/amargo-6-12-sixth-avenue-palm-beach-qld-4221">Flourish Amargo</a>.

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Sherpa sells out Flourish Oasis in booming Palm Beach

Urban Property Group's <a href="https://www.apartments.com.au/new-apartments/la-vera-macquarie-park-94-talavera-road-macquarie-park-nsw-2113">La Vera</a> is leading the next phase of Macquarie Park's residential evolution, with the new apartment development set to become the first of several new apartment projects in the precinct to complete.

The 169-apartment building has now topped out ahead of its scheduled completion in the third quarter of 2026, as new residential investment continues to reshape one of Sydney's largest employment hubs into a true mixed-use precinct.

[smartcode_project:default project_id=134951 project_image_fid=368645]

Cox Architecture has designed La Vera to capture the best of its unique positioning on Talavera Road, orienting the building towards Lane Cove National Park.&nbsp;The building features a sculpted northern façade with flowing curves inspired by the surrounding landscape, while its city-facing elevation adopts a more structured architectural expression to maximise skyline views.

"The vision for the project was to conceive a building that adopted an organic and curvilinear form to the northern portion that faces the Lane Cove National Park," <a href="https://www.apartments.com.au/architects/cox-architecture">Cox Architecture</a> Director Felipe Miranda said.

"The residents that reside in the northern portion of the building benefit by having beautifully crafted curved balconies that speak to the natural context and heighten the relationship of their internal living spaces to the external balconies."

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La Vera offers a diverse mix of one, two, three, and four-bedroom configurations, with prices currently starting from $740,000. Buyers so far have been a mix of Sydney-based investors,&nbsp;metro commuters, owner-occupiers and downsizers from surrounding North Shore suburbs.

Both investors and owner-occupiers have been drawn to La Vera's proximity to Macquarie University, Macquarie University Hospital, Macquarie Centre and the Sydney Metro, infrastructure that supports both strong rental demand and a convenient lifestyle for residents.

The apartments feature full-height glazing, timber flooring throughout living areas, stone kitchen benchtops, SMEG appliances, floor-to-ceiling bathroom tiling and ducted air conditioning.

Residents will have access to a rooftop recreation level featuring a swimming pool, sauna, barbecue facilities and landscaped relaxation areas, complemented by additional communal space at ground level. Many apartments enjoy uninterrupted views across Lane Cove National Park, reinforcing the project's connection to its natural setting.

[smartcode_project:default project_id=134951 project_image_fid=364551]

<a href="https://www.apartments.com.au/developers/urban-property-group">Urban Property Group</a>, a family-owned developer and builder with nearly four decades of experience, holds a 4.5-star iCIRT rating and was Australia's first developer to introduce 10-Year Latent Defects Insurance (LDI). La Vera is the first apartment development in <a href="https://www.apartments.com.au/developments/macquarie-park-nsw-2113">Macquarie Park</a> approved to offer the additional insurance protection, alongside a five-year warranty on SMEG appliances.

Urban Property Group CEO Patrick Elias said the additional protection reflects changing buyer expectations in the off the plan market.

"Consumers are a lot more weary and a lot more concerned in buying off the plan than they ever have been. Having LDI is a tool to portray the confidence that we have in our product, and a confidence we want buyers to share," Elias said.

Following completion of the building later this year, buyers will move into their apartments well before Christmas.

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La Vera closes in on completion as Macquarie Park continues residential transformation

Brisbane developer Red &amp; Co's decision to include dual key apartments in its debut Gold Coast apartment development, <a href="https://www.apartments.com.au/new-apartments/como-varsity-lakes-22-lake-street-varsity-lakes-qld-4227">COMO Varsity Lakes</a>, is proving to be one of the project's biggest drawcards, with buyers quickly snapping up the flexible residences.

More than half of the project's 36 dual key apartments have already sold, helping drive COMO beyond the 50 per cent sold mark within the first month of launch.

The strong response highlights growing demand for apartment designs that can adapt to changing lifestyles, with buyers increasingly looking for homes that accommodate multi-generational living, provide rental income opportunities or simply offer greater flexibility over time.

Located on the shores of Lake Orr, COMO will deliver 156 apartments across 16 levels, with the dual-key residences forming a limited release within the broader development.

Each combines a primary two-bedroom apartment with a fully self-contained studio on a single title, connected by a shared foyer and lockable internal door. The design allows owners to house ageing parents, adult children or guests while maintaining privacy, or lease the secondary residence to generate additional income.

Just 17 of the original 36 dual key apartments remain available.

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The innovative configuration combines two fully self-contained residences on a single title, typically comprising a primary two-bedroom apartment alongside a separate studio residence, connected via a shared foyer and lockable internal door.&nbsp;

The model is proving particularly attractive to owner occupiers navigating changing family dynamics and the realities of the current housing crisis.&nbsp;

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<a href="https://www.apartments.com.au/project-marketer/npa">NPA</a>&nbsp;CEO Andrew Erwin said dual key living was resonating strongly with modern buyers because it delivered both financial flexibility and practical lifestyle benefits.&nbsp;

“The housing crisis and rising cost of living are fundamentally changing how Australians think about home ownership,” Erwin said.&nbsp;

“Dual key apartments provide a genuine solution for families who want to stay connected while maintaining independence. Parents can help adult children save for a future home, ageing parents can remain nearby without moving into aged care, and owners still retain privacy and flexibility.

“Importantly, buyers are also recognising the financial advantages. It creates the opportunity to generate additional income from part of the home without the holding costs associated with owning a separate investment property.”&nbsp;

[smartcode_project:default project_id=135546 project_image_fid=363509]

Unlike traditional dual occupancy arrangements, the residences operate under a single title, meaning owners only incur one set of body corporate fees, council rates and holding costs.&nbsp;

The secondary residence can also evolve over time - functioning as guest accommodation, a home office, creative studio or private retreat before later becoming an income-producing asset.

<a href="https://www.apartments.com.au/developers/red-co">Red &amp; Co</a>&nbsp;Director and Co-Founder David Laverty said the strong early sales reflected growing buyer urgency and changing priorities within the market.&nbsp;

“Securing more than half of COMO’s residences within such a short timeframe is an outstanding result and a clear endorsement of both the design and location,” Laverty said.&nbsp;

“Buyers are responding to the combination of location, connectivity and amenity, but ultimately it’s value relative to other East Coast markets that is driving enquiry.”&nbsp;

“We’re also seeing strong interest from owner occupiers looking for homes that can adapt with them over time. Flexibility has become one of the most important considerations for buyers in today’s market.”&nbsp;

[smartcode_project:default project_id=135546 project_image_fid=363515]

Designed by <a href="https://www.apartments.com.au/architects/bda-architecture">BDA Architecture</a>, COMO features a mix of one-, two- and three-bedroom residences with 2.7-metre ceilings and larger-format floorplans aimed at owner occupiers, downsizers and lifestyle-focused buyers.&nbsp;

The development will feature an extensive rooftop recreation and wellness offering including a 25-metre lap pool, sundeck, barbecue and dining areas, gym, sauna, plunge baths, landscaped gardens, wellness spaces and rooftop pickleball and paddleball courts.

The remaining dual key apartments range from 137 sqm to 167 sqm and include generous three-bedroom layouts with separate self-contained studio accommodation and dual parking.&nbsp;

Erwin said the dual key concept represented a broader shift in how Australians would live in the future.

“People want homes that can evolve with their lives,” he said.&nbsp;

“A dual key apartment can suit a family today, support an ageing parent tomorrow, and potentially generate income later on. That adaptability is becoming incredibly valuable in the current environment.”

Prices currently range from $2,115,750 to $2,583,000.&nbsp;

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Inter-generational living drives demand for COMO’s dual key apartments as housing pressures reshape buyer priorities 

Builder-developer&nbsp;<a href="https://www.apartments.com.au/developers/ceerose">Ceerose</a> has doubled down on its Leichhardt ambitions, lodging its second State Significant Development Application (SSDA) in the suburb in the last six months.

Their newest proposal seeks to transform a former industrial precinct into a new residential community centred around the adaptive reuse of one of the site's heritage warehouse buildings.

The new project, on a 6,930 sqm block at&nbsp;<a href="https://www.apartments.com.au/new-apartments/40-76-william-street-leichhardt-nsw-2040">40–76 William Street</a>, will bring more than 200 apartments to a suburb that has seen little to no new supply in recent years. It follows Ceerose's late 2025 SSDA for a mixed-use apartment project on nearby Parramatta Road, signalling the developer's growing investment in Sydney's Inner West.

Ceerose Founder Edward Doueihi told Apartments.com.au the developer’s long-standing presence in Leichhardt and the Inner West had given it a strong understanding of how the area has evolved and where its future opportunities lie.

“Ceerose has had a long-standing presence in Leichhardt and the Inner West, giving us a unique understanding of the area’s evolution and future potential,” Doueihi said.

“Having delivered projects throughout the region, we have witnessed the suburb’s transformation first-hand and understand the opportunities for its continued growth.”

Doueihi said that understanding also informed the planning process, with a comprehensive Stakeholder Engagement Outcomes Report prepared before the application was lodged.

The report identified the key issues and concerns raised by neighbouring residents and other stakeholders, allowing those matters to be considered and incorporated into the design where appropriate.

He said the delivery of additional housing would also play an important role in supporting the revitalisation of Norton Street and the Italian Forum.

“By increasing the local residential population, the development is expected to strengthen demand for local businesses, encourage further investment, and help restore the vibrancy that made the precinct a thriving destination in the early 2000s.”

<img alt="First look: Ceerose returns to Leichhardt with 203-apartment adaptive reuse proposal at former warehouse site" data-entity-type="file" data-entity-uuid="7258c54c-8167-479e-8361-2d5fca9915b4" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Appendix%2010B%20-%20CGI%20-%20View%202.jpg?VersionId=S9DQfxu_jpcB5LrAEYFUbyMzg5odW6i5" />

Designed by <a href="https://www.apartments.com.au/architects/woods-bagot">Woods Bagot</a>, the redevelopment would involve the demolition of four existing industrial buildings while retaining and adaptively reusing the site's most significant warehouse. The retained structure would anchor a new residential precinct comprising five interconnected buildings arranged around a large central landscaped courtyard, with heights stepping from five storeys along the surrounding residential streets to 11 storeys at the William Street corner.

According to the Architecture Design Report by Woods Bagot, the proposal "seeks to create a residential village centred around a generous green heart while celebrating the site's industrial heritage through the adaptive reuse of the existing warehouse building."

The development would comprise 203 apartments, with 188 proposed as build-to-sell residences, alongside 15 affordable housing apartments.

Rather than treating the retained warehouse as a standalone heritage object, Woods Bagot has sought to weave the site's industrial history throughout the masterplan. The proposal retains the north and west facades of the landmark corner warehouse, while new buildings reinterpret the site's brick-and-steel industrial language through their material palette and architectural expression.

<img alt="First look: Ceerose returns to Leichhardt with 203-apartment adaptive reuse proposal at former warehouse site" data-entity-type="file" data-entity-uuid="9e8c64c2-881b-49e1-8c90-6b6acaaa45b6" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Appendix%2010C%20-%20CGI%20-%20View%203.jpg?VersionId=Qm8_8H_Xrg_sc4Mdjc59vlAcKF_5wRTb" />

The design is organised around what Woods Bagot describes as a "green heart", a landscaped communal open space that reinstates the leafy character removed when the site became an industrial storage facility. A new pedestrian laneway running through the site would improve permeability between William, North and Francis streets, linking residents through landscaped public spaces while activating the ground plane.

Residents would have access to communal gardens and shared recreation areas distributed throughout the development. Sustainability has also been prioritised, with the project targeting an average 7.9-star NatHERS rating. Proposed initiatives include rooftop solar generation, rainwater harvesting, passive solar design, naturally ventilated lobbies, extensive cross-ventilation and the reuse of existing building fabric to reduce embodied carbon.

The adaptive reuse strategy became a defining feature of the application after heritage investigations found only one of the site's industrial buildings could feasibly be retained. The Heritage Impact Statement concludes that preserving the key warehouse façades while referencing the site's industrial character throughout the new development provides an appropriate balance between renewal and conservation.

<img alt="First look: Ceerose returns to Leichhardt with 203-apartment adaptive reuse proposal at former warehouse site" data-entity-type="file" data-entity-uuid="efffafdb-594f-4e2b-a067-921fd51c05e1" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Appendix%2010D%20-%20CGI%20-%20View%204.jpg?VersionId=DPmE4.k16YRt0i27hEZVtJAffarpvUfx" />

"Retention and adaptation of the site buildings has been explored but found not to be feasible except for the tallest building, whose street facades will be retained," the heritage report states.

"The proposed building will interpret the brick and steel character of the subject site, including reuse of some components and construction of a large 'sawtooth' structure in the proposed open space."

<img alt="First look: Ceerose returns to Leichhardt with 203-apartment adaptive reuse proposal at former warehouse site" data-entity-type="file" data-entity-uuid="3bfef2b5-83f5-40cd-9cab-767092f34266" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Appendix%2010E%20-%20CGI%20-%20View%205.jpg?VersionId=7asb3i_ql4ybbuJOUb5UHBEIy0Q9t.DF" />

The William Street site is located around 300 metres from Leichhardt North Light Rail station and a short walk to Norton Street's retail, dining and hospitality precinct. The surrounding area has increasingly become a focus for urban renewal given its proximity to public transport and the Parramatta Road corridor.

Doueihi founded Ceerose in 1998 and has grown the business to become one of Sydney's more active apartment developers in recent years, with completed projects including The Alex Collective in Alexandria, Abbie's Lane in Annandale, and the award-winning Munro House in Elizabeth Bay. They are currently delivering Belgravia, 17 luxury apartments in Potts Point.

First look: Ceerose doubles down in Leichhardt with adaptive reuse of former warehouse site

Shopping Centre

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The commercial redevelopment portion of The Glen Shopping Centre $500 million redevelopment has finished, with a residential element to follow. 
<a href="http://ecomms.raywhite.com/collect/click.aspx?u=jRYOrR8N39T19uw5QbPN8HXD8J9XXluS2UdZOrecqyY=&amp;rh=ff004fe9b76b0bd1129cf18cb74e9077907c55ca" target="_blank">The Glen Shopping Centre</a> in Glen Waverley, Victoria was opened in 1967 with around 30 shops and a department store and had around 600 car spaces.
“In 1991, the centre expanded to 120 retailers, with a 100 per cent increase in car spaces to 1,200,” said Ray White Commercial Glen Waverley Managing Director Ryan Trickey.
In 1996, the biggest expansion took place, with an extension to 170 stores and retail player David Jones joined their list of retailers.
In 2015, there was a circa $500 million commitment to the centre to increase the specialty stores to over 240.
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It includes a new generation David Jones, with an increase to around 78,000sqm, about 30,000sqm more commercial space than previous.   “We've just finished the commercial redevelopment portion of the build with a mix of premium food and fashion all taking part," Mr Trickey said.
Mr Trickey said Glen Waverley was flanked by several large shopping precincts, Chadstone, East Land, Westfield Knox and Box Hill.   “Without the upgrade, the local area could’ve fallen victim to these other large draw cards with retailers moving to other areas."   “The redevelopment offers more dwelling in the activity center (a state government and council objective) and more retail and entertainment to service this influx of residents.”
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j.ballantyne1990-6AQqhLzZaK

$500 million Glen Shopping Centre commercial redevelopment completed

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The property group GPT has sold Norton Plaza, a neighbourhood shopping centre in Sydney's Leichhardt.
It sold to a private local investor for $153.2 million.
Norton Plaza comprises 11,800 square metres with a Coles supermarket and 50 retailers.
It also includes a large-format Harris Farm Market.
Nine Entertainment speculated the deal was struck on a core cap rate of 5.5% with the asset selling above its book value.
The Australian Financial Review had advised the move to offload Norton Plaza was part of the wholesale fund’s broader effort of focusing its portfolio on super-regional malls as a bulwark against headwinds in the retail sector.
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GPT sells Norton Plaza for $153 million

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Trinity Village shopping centre in Perth’s north western suburb of Alkimos has sold for $34.05 million.
The neighbourhood shopping centre has a net lettable area of 6,081 square metres and is anchored by Coles on a long 15-year lease.
There are also 16 specialty tenants, including a Shell service station, medical centre and childcare centre.  
Trinity Village was sold at a rate of $5,599 per square metre at a 5.84% yield to a private local investor.
The architecturally designed centre was completed in 2018 and was sold by a syndicate of developers. 
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CBRE’s Richard Cash and Anthony Del Borrello of its Western Australian Retail Investments team negotiated the sale. 
Del Borrello said that after a five-week International Expressions of Interest Campaign, the property had garnered 86 enquiries and seven offers from a mix of local and east coast investors and offshore groups.  
“Insulation from economic fluctuations and the impact of online retail sales has also contributed to high demand for non-discretionary and service based neighbourhood shopping centres,” he said.
Cash said that this was the sixth neighbourhood shopping centre sale in WA in 2019, with a total transaction volume of over $100 million.  
“In the face of negative sentiments surrounding the retail investment market, we have already seen three transactions and $45 million more than this time last year and the average yield has tightened to 6.19%,” Cash said.
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Trinity Village shopping centre in Perth sells for $34 million

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Sales of Victorian neighbourhood shopping centres are on track to record the strongest result in four years despite negative sentiment around the retail sector generally, according to a CBRE review of the sector. 
The Victorian Neighbourhood Shopping Centre Review (2016-2019) found that while buyers were naturally more cautious around vacancy, pending expiries and the overall performance of the shopping centre itself, they remained attracted to the sub $100 million sector with 2019 sales tracking towards the highest sales by value in at least four years.  
According to CBRE Retail Investments Analyst, Annalee Neil, the attraction is based particularly around the heavy weighting towards supermarket share of GLA and the relative insulation from the threat of e-commerce. 
The review found that of four sales transacted in 2019, the anchor tenants, including Coles, Aldi and Woolworths, contributed an average of more than 60 per cent of the total income or GLA of the centre. 
By contrast, the review found supermarkets accounted for only six per cent and 18 per cent of total cash flow in regional and sub-regional centres respectively. 
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Director Investments Mark Wizel, said the results proved retail centres with a weighting towards non-discretionary spend tenants remained one of the favourite investments across all commercial property sectors.  
“Like many things, we can’t broad brush the sector. There are green shoots but there are also areas of concern. In the neighbourhood shopping centre sector, it is almost business as usual."
“This has been exemplified by the very strong result with the sale of Coburg North Village (pictured top) along with the unconditional sale of Woolworths Curlewis Shopping Centre (pictured below) and the current strong enquiry for Newcomb Central,’’ Mr Wizel said.  
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Mr Wizel said the impending sale of the Woolworths/BWS and Aldi anchored Newcomb Central property would bring the total sales value of neighbourhood centres sold this year to more than 2016 and 2017. 
“Total sale results this year will surpass 2016 and 2017 and may well surpass 2018 in less than seven months."
“The fact that there is a current investment stock shortage underscores just how popular these centres are. Owners are holding tight to arguably the commercial market’s best defensive asset in what are relatively tough times in terms of investment returns generally,’’ Mr Wizel said.
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According to the review sub $100 million sales in 2019 have also included the free standing Woolworths Lara store which sold to a Melbourne investor for $21.55 million on a 5.92 per cent yield while a local buyer purchased the Mernda Town Centre for $51.5 million. The land only purchase included a permit for a full-line Woolworths supermarket. CBRE managed both campaigns.  
Ms Neil said the $160 million worth of free standing supermarkets which sold on an average 5.18 per cent yield over 2018/2019, was further evidence of the demand for defensive retail assets.
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Secure neighbourhood centres buck retail headwinds: CBRE

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The Mernda Junction Shopping Centre in Melbourne's Northern growth corridor has been launched.
The Coles anchored shopping centre has its latest full line 4,000 sqm supermarket, which also features Liquorland and about 20 specialty retail stores.
The centre is serviced by more than 300 car parks.  
Colliers International’s Mike Crittenden and Stephanie Siadis have secured 17 tenants for the 7,000 sqm centre, with only three tenancies remaining for food &amp; beverage and service operators.  
Coles and Liquorland are joined by a wide range of retailers including Australia’s largest pharmacy retailer, Chemist Warehouse, along with Fruitful Veg Market, Billy’s Junction, Degani, Scotch &amp; Fillet, Rainbow Nails, Peoples Choice Home Loans, Mernda Kebab House, Mernda Smiles, Medical, 7 Star Pizza Pasta &amp; Grill, Kings Landing Barber, Cups n Cones and Tattslotto.  
“Located approximately 30km north of Melbourne's CBD in the City of Whittlesea, Mernda Junction Shopping Centre provides convenient shopping to the surrounding catchment of over 40,000 people,”  Mr Crittenden said.  
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A spokesman for Mernda Junction Shopping Centre said, “we are excited to launch a fantastic new neighbourhood shopping centre in the heart of Mernda at the junction of Bridge Inn and Plenty Roads. ”  
Planning for Stage 2 of Mernda Junction Shopping Centre are now underway, which will further add to the mix of uses and the vitality of the community.
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Mernda Junction Shopping Centre launched in North Melbourne

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Lakeside Plaza, situated in the growing Perth suburb of Byford, has been listed for sale.
Opening in December 2017, Lakeside Plaza is a 4,710 sqm neighbourhood shopping centre, situated in the heart of The Glades.
The award-winning master-planned residential community The Glades will be home to 10,000 residents. 
Located on the corner of Doley Road and Meade Street, on a 13,312 sqm site, the purpose-built centre is anchored by a 1,254sqm IGA supermarket with 19 specialty retailers, including a pharmacy, childcare centre, vet clinic and medical/dental centre. 
CBRE’s Richard Cash and Anthony Del Borrello, conjunctionally with Knight Frank’s Todd Schaffer and Rick McIntosh-Whyte, have been appointed to steer the sale process via Expressions of Interest. 
Mr Cash said Byford’s lifestyle appeal and population growth would underpin buyer interest. 
“With planning underway to extend the Armadale train line south to Byford, connectivity and accessibility to Perth will improve significantly and ultimately underpin continued population growth, which is forecasted to increase by 4.29% per annum till 2036,” Mr Cash said. 
Mr Schaffer added, “Investor demand for modern neighbourhood shopping centres remains robust, with four shopping centres having transacted and a further two currently under contract in the first half of 2019. Buyers continue to target convenience focused shopping centres in high growth catchment areas.” 
Lakeside Plaza is being offered for sale via expressions of interest closing July 18.
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Byford Lakeside Plaza in Perth hits the market 

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Darwin based developer Gwelo Developments has put its Coles and Kmart anchored Coolalinga Central shopping centre to the market.
They stated that it offers investors an estimated $7.17 million net annual income fully leased.  
According to CBRE Director Retail Investments, Justin Dowers, who is managing the sale with Mark Wizel and Trent Weir, the near new Stuart Highway centre could fetch more than $90 million.  
“This is a near brand new centre with a blue chip tenancy profile on the NT’s busiest road and one that offers investors exceptional income growth potential as well as genuine development upside.  
Located 30 kilometres south-east of the Darwin CBD, the 20,034 sqm (GLAR) enclosed sub-regional is anchored by a Coles supermarket (3,990 sqm) and Kmart (5,629 sqm) with five mini-majors including iFitness, Chemist Warehouse, Mad Harry’s and The Salvation Army.
There are 37 speciality stores, ten kiosks, an ATM and nine pad sites including McDonalds, Subway, Hungry Jacks and KFC. 
The 77,100 square metre site includes parking for 1240 vehicles with 776 undercroft spaces enhancing the centre’s wet season appeal. 
Mr Wizel said, “the centre has a 400 metre frontage to the Northern Territory’s busiest arterial –more than 17,150 vehicles pass the centre each day - and serves a trade currently estimated at 63,450 people with a conservative population growth forecast of 1.7 per cent per annum and an average household income 57 per cent above the Australian average. "
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An additional 16,500 sqm of vacant land that had been allocated for Stage 3 of the shopping centre development provided a further investment aspect that added to the centres’ long term investment credentials. 
Mr Dowers said the centre, built in 2017, also offered significant depreciation benefits, with minimal capital expenditure requirements. 
The property is for sale by international expressions of interest closing August 1st 2019.
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Near new Darwin shopping centre offered to market

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Private investor Mintus has added another retail asset to its property portfolio, by purchasing the West Gosford Shopping Centre.
The established neighbourhood centre, anchored by Coles/ Liquorland, was sold for $23 million by ISPT/ Coles.
The single level neighbourhood centre at 269-299 Brisbane Water Drive, West Gosford sits on a 17,559sqm site with a Gross Lettable Area of 9,249sqm.
The centre includes a well performing Coles and Liquorland supported by a number of specialty tenants.   
The property was sold off market by Steven Lerche and Andrew Palmer of Savills Australia.
Saville noted the centre is strategically located at the intersection of the Central Coast Highway and Brisbane Water Drive and has significant value add potential.
“This was a rare opportunity to undertake a refurbishment/ redevelopment of a strategically located shopping centre on the Central Coast of NSW," according to Steve Lerche, National Director, Retail Investments at Savills Australia.
“The Central Coast is a thriving and growing catchment and this property is situated at the bottom of the Gosford escarpment and is the first major shopping centre in the region” he said.  
The centre has convenient on grade parking for 210 cars and town planning is Zoned “B2 Local Centre” under the “Gosford Local Environmental Plan 2014” with a FSR: 1:1 Height Limit: 11.5 metres.
According to Andrew Palmer, Associate Director, Retail Investments at Savills Australia, Gosford is the third largest urban hub in NSW, strategically located 70kms north of Sydney and 95kms south of Newcastle. 
“The Central Coast is a major population growth area of NSW with a current population estimated at 337,765, AND IS expected to grow to 414,615 by 2036 (over 21% increase). There is also a large trade area catchment population with 16,000 in the MTA” he continued.  
The Gosford City Centre Masterplan 2031 plans to revitalise the city centre and sustainably managing projected growth. 
It aims to help achieve a residential target of an additional 10,000 residents and 6,000 new jobs by 2031.
According to Ben Stewart, Director, Retail and Residential at Mintus West Gosford represents a "fantastic opportunity" for Mintus to redevelop and reinvigorate the precinct to reflect current retail trends and position the asset for strong future growth. 
“We look forward to working with Coles, Council and the public to provide a convenient neighbourhood centre that suits the local area”. 
The Central Coast Council area’s Gross Regional Product was $13.72 billion in the year ending June 2017, growing 1.6% since the previous year. 
The Gosford City population as at 2018 is estimated at 173,593 and is forecast to grow to 189,195 by 2036.
 
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Mintus snap up West Gosford Shopping Centre through Savills

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The new Bakehouse Quarter commercial precinct North Strathfield, Western Sydney, has been acquired by Yuhu Group Australia.
The Bakehouse Quarter provides a vibrant village environment in the heart of Sydney’s Inner West with cobble stoned streets, leafy parks, a selection of retail outlets and an array of restaurants, gyms, childcare, bars and cafes.
The purchase from Kirela Development Unit Trust, associated with the listed fund manager BlackWall. was settled on April 18, 2019.
The 60,000 square metre commercial and retail precinct is located in the surrounds of the refurbished Arnott’s biscuit factory.
The precinct will be anchored by Aldi supermarket, Arnott’s, Kingpin, Fitness First and WOTSO WorkSpace, with 70 tenancies in total.
Yuhu Group chairman Jimmy Huang said that the acquisition of the Bakehouse Quarter landmark site is in line with the company’s long-term strategy of identifying and investing in prime assets with well-established income streams.
“The hundred-year-old site together with its iconic architecture and relaxing ambience creates this incredible blend of rich history and culture that just tastes distinctively Bakehouse Quarter,” said Huang.
“Millions of us grew up with Arnott’s biscuits, and the emotional attachment associated with the precinct will carry on in the fabric of the area. With further support from the well-established modern-day transportation infrastructure and precinct facilities, the unique Bakehouse Quarter will go on to sew new memories for local families and beyond.
“We at Yuhu Group Australia are proud of the experience offerings that we are able to provide with our expertise in asset management, and even more so for the local jobs that we are continuously creating and supporting.”
Yuhu Group Australia is a private property investment company that was founded in Sydney in 2012.
Among its portfolio are One Circular Quay in Sydney and The Jewel towers in Surfers Paradise.
The Kirela trust was established in 1996 to acquire the site that until December 1996 served as a production facility for Arnott’s Biscuits Limited.
In 2017 Blackwall told its unit holders it would be  sold in late 2018 for $380 million under a call option arrangement. 
Blackwall is directed by Richard Hill, Joseph (Seph) Glew, Robin Tedder, with Stuart Brown, as its chief executive officer.
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Bakehouse Quarter in North Strathfield bought by Yuhu Group

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 Australia’s retail sector has been in a state of flux throughout the past three years, as the effects of online, large-format and specialist retailing have grown more pronounced, according to Savills.
Savills Australia has released its latest research report, the Q1 2019 National Retail Quarter Time, highlighting the vastly different outcomes across states and sub-sectors.
According to the report, in the 12 months to March 2019, investment volumes for retail assets nationally were at their highest level on record.
Ben Parkinson, Savills head for retail investments, said in the 12-month period to March 2019 there was a record $2.83billion of retail assets transacted – more than double that of the previous annual period.
“Of this total, 60 per cent were transacted by domestic institutional investors, while domestic private investors accounted for 23 per cent. 
“In stark contrast, foreign investor activity in Victoria has been muted throughout the past two years, after foreigners transacted nearly 63 per cent of total retail sales volumes in the 12-month period to March 2017.”
Most of this transactional activity occurred across regional (34.4 per cent) and sub-regional centres (30.3 per cent), followed by the more tightly held neighbourhood centres (15.3 per cent).
“Neighbourhood centres in Victoria are not traded as often as in other states, mainly due to the fact these centres are generally privately held, often by families, over a long period of time,” Silberman said.
“However, the strong metrics on neighbourhood centres mean that they are in high demand, and when they are put up for sale, the competition to acquire them is quite fierce. 
“Not surprisingly, average capital values across Victoria’s neighbourhood centres recorded gains in the 12-month period to March 2019, rising 5.0 per cent.”
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Indicating that neighbourhood centres were still performing well, the report shows that specialty tenant rents recorded growth in the March quarter, rising 8.3 per cent in the 12-month period to March 2019.
Specialty tenant rents across regional and sub-regional centres fell in the same period.
“As people become busier, there is a greater demand for neighbourhood centres to be a one-stop shop, with more and more local neighbourhood centres providing a streamlined non-discretionary experience,” Parkinson said.
“Landlords are able to carefully target their rents in these centres in line with changing consumer tastes and preferences. 
“There is a greater demand for quality food products, with an increasing number of consumers demanding fresh produce like fruits and vegetable, meats and bread from specialty retailers, rather than from the supermarkets.”
Shrabastee Mallik, Savills director of research and consultancy, said she's not surprised of the resilience of the retail sector.
“Given the vastness of Australia’s physical landscape, a relatively low shopping centre supply per person, and a lower penchant for exclusively shopping online compared to other developed nations, it is not surprising that Australia’s retail sector has been comparatively resilient,” Malik said.
The report reveals that movements in rents varied considerably across the different centre and tenant types in Victoria.
Mallik said there were notable revisions to recorded rents across regional, sub-regional and neighbourhood centres. 
“While supermarket rents across all centre types remained stable, we saw rents move down for discount department stores in sub-regional centres to an average of $235 per square metre, reflecting a 3.9 per cent fall during the 12-month period to March 2019,” she said.
“Interestingly, the average went down as a result of downward revisions to the high end of the range, rather than the low, in a reflection of the times.
“We are now at a stage of the cycle where landlords are carefully considering the levels at which they pitch their rents. 
“With many of these discount department stores coming under increasing scrutiny about their low prices coming at the cost of ethics and sustainability, we are probably going to see more of these retailers negotiate their leases in their favour, as the pendulum remains firmly in favour of tenants.”
Mallik said Savills maintained a positive outlook for the future of Victoria’s retail sector.
“Not only has total retail turnover growth been above long-term averages, growth across discretionary retailing such as ‘clothing and footwear’ and ‘hardware and garden’ has been notably above long-term averages, in an encouraging sign for discretionary retailers.”
Rick Silberman, Savills director for retail investments, said that retail centres across Victoria had the highest total returns nationally, recording an annual return of 7.7 per cent in the 2018 calendar year. 
“As this compares favorably to the long-term average, it is clear that investor demand for Victorian retail assets remains strong, particularly given that retail trade has been performing well above long-term averages throughout the past five years, in spite of the rise of the online retail sector,” he said.
According to the Savills report, in the 12 months to March 2019, investment volumes for retail assets nationally were at their highest level on record.
To read the full report, <a href="http://pdf.savills.asia/asia-pacific-research/australian-research/australia-retail/savillsresearch-quarter-times-retail-q1-2019.pdf" target="_blank">click here</a>.
 
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