<a href="https://www.apartments.com.au/developers/sunland-group">Sunland Group</a> has officially lodged plans for its first Gold Coast apartment project since the departure of the Abedian family from the company three years ago, unveiling a new high-rise proposal for a prominent Broadbeach corner site on Old Burleigh Road.

The application was submitted by an entity directed by Tom Jamieson, stepson of longtime Sunland leader Soheil Abedian, and Riaz Rezvanipour, brother-in-law of Sahba Abedian, Soheil’s son.

Sunland acquired the 1,283 sqm site on the corner of Old Burleigh Road and Armrick Avenue for $9.5 million late last year and is now seeking approval for a <a href="https://www.apartments.com.au/new-apartments/99-101-old-burleigh-road-broadbeach-qld-4218">42-storey tower with 81 apartments</a>.

<img alt="First look: Sunland Group returns to Broadbeach with new Old Burleigh Road tower plans" data-entity-type="file" data-entity-uuid="fea2946d-90ee-4cfc-babe-2a8ad5db2cb6" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/pers.png?VersionId=BV0fihJw31nDIQ8ozY_h3GbS8mxDyhnm" />

Designed by <a href="https://www.apartments.com.au/architects/contreras-earl-architecture">Contreras Earl Architecture</a>, the proposed tower at 99-101 Old Burleigh Road would deliver a predominantly larger-format apartment mix aimed at the owner-occupier market. Plans include 17 two-bedroom apartments, 55 three-bedroom apartments, and nine four-bedroom residences across 35 residential levels.

The development also incorporates three basement levels, four podium parking levels, two levels of communal recreation facilities, and rooftop plant and equipment. A total of 189 car spaces are proposed, significantly exceeding the 90 spaces required under the planning scheme.

The architecture adopts a sculpted, curvilinear form, with deep wraparound balconies and integrated landscaping intended to soften the tower’s vertical expression. The planning report states the building’s “slender footprint/form provides a complimentary yet varied built form within the local streetscape” and contributes to “a varied, yet ordered skyline.”

Contreras Earl noted in its Architectural Statement that from the early stages, the project addressed a fundamental challenge: how to accommodate the required residential yield while avoiding the conventional model of a tower sitting on a rigid, fully resolved parking podium.

“The most direct response would have been to consolidate parking into a singular, flat podium and extrude a repetitive tower above,” the statement said. “While efficient, this approach would result in a consolidated built form with limited engagement with the surrounding landscape and public realm.”

Instead, the conventional podium model was “deliberately rejected”. The architects described the base of the building as “a landscaped architectural condition where structure, planting and circulation are integrated”.

“Rather than presenting a continuous built mass, the base of the building is articulated through a series of concrete planter elements that organise the podium into a fragmented system,” the statement said. “This approach reduces the perceived bulk of the lower levels while establishing a more permeable interface with the streetscape and adjacent open space.”

<img alt="Sunland" data-entity-type="file" data-entity-uuid="923fad8d-c960-4527-8fbe-975cf1ddf88d" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-05-25%20at%2010.32.03%E2%80%AFAM.png?VersionId=pngwb0hYOIUpq9vDw6F2EsOiVuHF3DiX" />

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The site sits within the High Density Residential Zone and inside the City of Gold Coast’s unrestricted “HX” building height area, where the planning framework anticipates intensified residential development tied to the expanding light rail corridor. The planning report notes the area is undergoing “transition toward more intense development forms” given its proximity to Broadbeach, Surfers Paradise, and high-frequency public transport infrastructure.

Positioned directly opposite Broadbeach Park and within walking distance of Florida Gardens light rail station, the development would sit among a rapidly evolving stretch of Old Burleigh Road that has become one of the Gold Coast’s most active apartment development corridors.

The application joins a growing pipeline of luxury residential projects reshaping Broadbeach, including nearby developments by 5Point Projects, Polycell, and Graya.

The planning report argues the project contributes toward the Gold Coast’s long-term housing targets under the South East Queensland Regional Plan, which forecasts the need for more than 100,000 additional high-rise dwellings across the city by 2046.

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The Abedian family departed Sunland Group in late 2023, ending a four-decade association with the company, and subsequently established the private development firm Abedian &amp; Co. The group is currently delivering <a href="https://www.apartments.com.au/new-apartments/greenmount-residences-cnr-hill-street-and-marine-parade-coolangatta-qld-4225">Greenmount Residences</a> at Rainbow Bay and recently launched <a href="https://www.apartments.com.au/new-apartments/18-mary-avenue-14-18-mary-avenue-broadbeach-qld-4218">18 Mary Avenue</a> in Broadbeach.
</section>

Joel Robinson

First look: Sunland Group returns to Broadbeach new apartment market with new Old Burleigh Road tower plans

The Minns Labor Government has established the new Bays West Delivery Authority to lead the development&nbsp;of the Bays West Precinct and Blackwattle Bay Precinct.&nbsp;

The Authority is charged with creating Sydney’s newest precinct, a thriving, connected, sustainable hub with White Bay Power Station as its cultural heart. Its vision is to build on the area’s natural, cultural and industrial history to shape a vibrant new neighbourhood.

The precinct will deliver up to 8,500 well-located homes, including a minimum of 10 per cent affordable and essential worker homes. Combine new housing with public open space, opening public access to the waterfront for the first time in more than 100 years, while retaining important deep-water facilities to support Sydney’s working harbour.

Located just minutes from the Sydney CBD and connected to a world-class metro, ferry, walking and cycling links, the Bays West precinct will rebalance housing growth towards well-serviced inner-city locations and help tackle the state’s housing crisis.

The Bays West Delivery Authority,&nbsp;an agency of the Department of Planning, Housing and Infrastructure, will report to the NSW Minister for Lands and Property who already has oversight of major precinct renewal projects including at Blackwattle Bay and Barangaroo.

As part of the broader Bays West transformation, the Minns Government recently announced that a proposal from Lendlease to redevelop part of the Bays West Precinct has progressed to Stage 2 of the NSW Government’s unsolicited proposals process.

<img alt="Sydney" data-entity-type="file" data-entity-uuid="2ed71eb9-d8e8-4fa7-b9d1-de4531dcf2f3" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-05-25%20at%209.42.31%E2%80%AFAM.png?VersionId=IDryFIbped9SNDg72LEN_EecvhUsOPvp" />

The Minns Labor Government has also confirmed the Bays West precinct will have a new suburb name. This will be the first major suburb built in close proximity to Sydney’s CBD in decades and will encompass the area currently being referred to as Bays West, including Glebe Island and the White Bay Power Station. Served by a new Metro station just five minutes from the CBD, it will become one of the most populous suburbs in the Inner West and one of Sydney’s premier cultural destinations.

An early works program is taking shape, which&nbsp;includes the first stages of an international design competition.&nbsp;

The aim of the Bays West&nbsp;International&nbsp;Design Competition is to&nbsp;ensure design excellence is embedded in the project from the start. The competition will deliver an&nbsp;urban framework that defines the character, ambition and long-term identity of&nbsp;this&nbsp;former industrial precinct as it transitions to a vibrant, inclusive and sustainable residential&nbsp;neighbourhood.

The competition will be led by the Bays West Delivery Authority in partnership with Government Architect NSW.&nbsp;

It will launch with an invitation for a global Expressions of Interest, before moving to an invitation-only stage that will be assessed by a panel that&nbsp;will provide advice to Cabinet who will select a winner.

Premier of NSW, Chris Minns said the establishment of the new Authority is the first step in transforming the Bays West precinct into a vibrant, livable suburb minutes from the Sydney CBD and two stops from Hunter St Station on the Metro West line.

“The Authority will deliver well-located homes close to the heart of the city and integrate the new precinct with Blackwattle Bay and the new Sydney Fish Market.

“This is a generational opportunity to build a new suburb on the city’s edge and open the harbour foreshore to the public for the first time in a century.”&nbsp;

Minister for Lands and Property Steve Kamper said the new Bays West Delivery Authority established by the Minns Government will turbocharge the development of Sydney’s newest suburb.

“The Authority is working at a record pace to deliver an international design competition, planning pathways and a financial model so that this development benefits Sydney with well-designed homes in a central location, close to public transport, jobs, entertainment and essential services.

“If we want Sydney to stay liveable and affordable, we need to be bold about using underutilised government-owned land to deliver homes for the future while making sure essential working harbour functions can be accommodated.”

Bays West Delivery Authority established to "turbocharge" Sydney’s newest suburb

Around 400 additional homes could be built at Southwark Grounds on Port Road, lifting total site capacity from 1300 to around 1700 dwellings.

A recently approved code amendment would allow apartment towers of up to 14 storeys in some areas of Renewal SA’s redevelopment of the former West End Brewery.

Renewal SA Acting Chief Executive Shane Wingard said he welcomed the code amendment, with the increase in heights and homes making a positive impact on the supply of high-quality, well-connected housing close to the city.

“By going higher across some parts of Southwark Grounds, we are adding a substantial number of very well-located homes with little impact on project delivery time or planned open space,” Mr Wingard said.

Since the project officially launched in 2025, Mr Wingard said more than 12,000 enquiries had been received about living at Southwark Grounds.

“The very strong early interest we’ve seen since homes were first released in the precinct reinforces our plans to create more housing opportunities,” he said.

The Southwark Grounds code amendment was launched in December last year, with community engagement undertaken over five weeks from January.

It proposed increasing maximum building heights from eight to 14 storeys on the eastern section of Southwark Grounds, and to 12 storeys across the remainder of the site, with minimum building heights ranging from two to four storeys.

The code amendment was implemented through an Early Commencement policy in late January, allowing developers to quickly explore the viability of increased height and housing yield while other planning processes continue.

One of the first developers delivering apartment sites have already finalised redesigns to increase the number of apartments following the code amendment.

Samaras’ development adjacent to the future Colonel Light Park is now planning to deliver 125 apartments across 11 storeys, significantly greater than original plans of around 50 apartments across four storeys.

The developer is also exploring the potential for additional affordable housing outcomes.

Most of the apartments at Southwark Grounds will be delivered within a master-planned precinct on a large parcel of land on the eastern portion of the site, covering around two-thirds of its 8.4 hectares.

Wingard said detailed precinct planning over the coming months may identify further opportunities to increase yield further that could see total apartment numbers at Southwark Grounds, exceed this number.

Affordable homes at Southwark Grounds will also see a net increase, with Renewal SA maintaining its commitment to a minimum of 20 per cent affordable housing across the development.

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Civil works have begun across the site, with construction under way on the first new roads surrounding a townhouse precinct in the south‑west corner of Southwark Grounds. This includes Renewal SA’s 17 Founder’s Row homes, which are on track for completion by Christmas.

“We expect to have people living at Southwark Grounds by the end of the year, so delivering roads and public spaces for those residents is among our highest priorities.”

Construction of 40 townhouses off Anderson Street, known as West Village and being delivered by Contour, is forecast to begin in mid‑2026. Kolabb’s Anderson Lane development will follow shortly after, delivering a further 26 townhouses.

Southwark Grounds is a state government‑led urban renewal project now set to deliver around 1,700 homes over the next decade.

Homes will be supported by a supermarket, a range of retail and hospitality offerings anchored by a revitalised Walkerville Brew Tower, a childcare centre, car parking and well‑connected public spaces.

400 new homes planned for Adelaide's former West End Brewery site

Brisbane developer&nbsp;<a href="https://www.apartments.com.au/developers/cavcorp">Cavcorp</a> has lodged plans for a new mixed-use residential development at <a href="https://www.apartments.com.au/new-apartments/55-wyandra-street-teneriffe-qld-4005">55 Wyandra Street</a>, Teneriffe, anchored by an 85-metre public laneway designed to reconnect the suburb’s riverfront with the Gasworks precinct.

The buildings, known as Teneriffe House and Teneriffe Lane, would replace the existing Queensland Cotton head office site with a 15-storey residential tower transitioning to eight storeys toward Helen Street. The project has been designed by Plazibat Architects and lodged as a code assessable development application for 93 apartments across a 3,401 sqm mixed-use site within the Newstead and Teneriffe Waterfront neighbourhood plan.

Central to the scheme is the transformation of an existing service easement into a publicly accessible cross-block connection linking Wyandra and Helen Streets. Cavcorp says the new laneway will act as both a pedestrian shortcut and a landscaped civic space between the Teneriffe Riverwalk, ferry terminal, and Gasworks precinct.

<img alt="First Look: Cavcorp unveils Teneriffe House and Teneriffe Lane plans for landmark wellness tower in Teneriffe" data-entity-type="file" data-entity-uuid="26e7f058-b065-4de8-b13d-a2b8cb64dfcc" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/bldg.png?VersionId=sELS0ZKYi361oYipUa1BIKfe_.DLZoFV" />

“The revised proposal delivers a legacy public-realm cross-block link, permanently secured for community use, transforming an existing private easement into a safe, high-quality pedestrian connection between the Teneriffe heritage riverwalk and the Gasworks–Long Island precinct,” the planning report states.

The laneway will sit beneath a large subtropical loggia integrated into the podium levels of the development. The design incorporates deep landscaping, water gardens, lobby spaces, business lounges, and ground-floor apartments to create what Cavcorp describes as a climate-responsive “urban verandah.”

The tower itself has been designed as a slender form with recessed floorplates and curved translucent corners inspired by contemporary Japanese architecture. The building height aligns with the Commercial Road precinct controls, which permit towers up to 15 storeys within proximity to Longland Street.

<img alt="First Look: Cavcorp unveils Teneriffe House and Teneriffe Lane plans for landmark wellness tower in Teneriffe" data-entity-type="file" data-entity-uuid="a8a17d40-43b6-4718-b3fd-67676fcbb485" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/pers%202_1.png?VersionId=i3VwDtp5AmL_8InW7w4qRbDFEpb744Jt" />

The project will comprise a mix of larger-format apartments aimed at owner-occupiers, downsizers, and families. The proposed apartment mix includes 11 loggia apartments across the lower levels, 50 four-bedroom Sky-Terrace apartments from levels three to seven, and 32 Sky-Pool Homes occupying the upper tower levels. The Sky-Pool Homes will feature private thermal plunge pools integrated into oversized balconies.

According to the application, the apartments are intended to reinterpret the scale and character of Teneriffe’s woolstore conversions and Queensland homes within a vertical residential format.

“The sky-pool homes build on Cavcorp’s previous projects and introduce a distinct apartment typology to Teneriffe, informed by both local and international precedent and responding to an identified market demand for enhanced safety, space and amenity,” the planning submission notes.

A major focus of the proposal is its five-level wellness and lifestyle offering, extending from the basement through to the rooftop.

Amenities proposed include a rooftop Swim &amp; Racquet Club with a 25-metre Olympic lap pool and tennis court, coworking spaces and libraries, golf simulators, wine storage, concierge facilities, business lounges, pet wash areas, and rooftop longevity-focused wellness spaces with spas, outdoor fitness zones, and landscaped terraces.

<img alt="First Look: Cavcorp unveils Teneriffe House and Teneriffe Lane plans for landmark wellness tower in Teneriffe" data-entity-type="file" data-entity-uuid="944b352c-49b9-4247-a4c6-5967b4b69fda" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/amenity.png?VersionId=Ed_qKjAtMwFT.5gfl3jiA9QwdWxSMsaX" />

All parking will be concealed within basement levels accessed from Wyandra and Helen Streets. Cavcorp says the deep-basement engineering approach allows the entire ground plane to prioritise landscaping, pedestrian movement, and active frontage rather than vehicle infrastructure.

The development continues Cavcorp’s concentration in Newstead and Teneriffe, where the Brisbane developer has delivered a number of apartment projects including Lucent, Le Bain, and Luminare, as well as the Long Island Wellness Precinct nearby. Several of those projects have received national design and architecture awards, including recognition under Brisbane’s “Buildings that Breathe” program.

Cavcorp unveils wellness-focused Teneriffe House and Teneriffe Lane apartment buildings

Focus Group Investments has lodged plans for a new apartment development at <a href="https://www.apartments.com.au/new-apartments/64-70-hanover-street-fitzroy-vic-3065">64–70 Hanover Street</a> in Fitzroy, seeking to utilise the Victorian Government’s recently introduced Great Design Fast Track pathway to accelerate approvals for the project.

The proposal is among the latest developments to emerge through the state-led initiative, which was established to fast-track well-designed residential projects in activity centres and transport-connected inner-city locations. The pathway allows qualifying developments that meet elevated design and housing benchmarks to bypass traditional council planning timeframes and instead be assessed directly by the Department of Transport and Planning.

Designed by SJB, the development will comprise a mix of apartments above activated lower levels, with a strong focus on architectural articulation, landscaping, and communal amenity. The design response seeks to balance the industrial character of Richmond’s former warehouse precincts with a more contemporary residential form.

<img alt="First look: Focus Group Investments taps Victoria’s Great Design Fast Track for Richmond apartments" data-entity-type="file" data-entity-uuid="abea51cc-d85b-479e-9aef-a589f3b37ca7" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/ground.png?VersionId=e1Kf8EyPWwyiVumtqQ4rM5S4GpOR3CCz" />

Proposed are 63 new dwellings, a wide ranging mix of studio, one-, two-, and three-bedroom apartments, and townhouses and duplexes. They will be spread across a part-three, part-eight storey building.

The Planning and Urban Context Report by Tract says the development is of an "exemplary architectural standard" and has been carefully crafted by SJB Architects.

"Dwellings&nbsp;will benefit from excellent access to natural light, cross-ventilation opportunities and extensive communal space," the report noted.

The architectural material highlights the project’s integration of landscaped elements and communal spaces throughout the building. The proposal also incorporates sustainability initiatives aligned with the Victorian Government’s push for higher-performing apartment developments under the fast-track program.

The Great Design Fast Track was unveiled by the Victorian Government in 2024 as part of a broader housing supply strategy aimed at accelerating the delivery of new homes. Projects assessed through the pathway must demonstrate high-quality architecture, sustainability outcomes, and housing diversity while being located close to public transport and existing infrastructure.

<img alt="First look: Focus Group Investments taps Victoria’s Great Design Fast Track for Richmond apartments" data-entity-type="file" data-entity-uuid="afdbe834-8dc4-4a77-a943-ba07bc927348" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/site_11.png?VersionId=0J657j.TaChAZfp93wqJYBTqSsnREJx2" />

Focus Group, founder and led by Paul De Lutiis, is increasingly active across Melbourne’s inner suburbs, targeting well-connected urban renewal locations suited to medium and higher-density residential development. The Fitzroy proposal continues that strategy, leveraging the area’s strong transport links, established retail amenity, and proximity to the CBD.

Fitzroy has been one of the most popular spots for developers and buyers in recent years. The likes of PACE Development Group, SMA Projects, Crema Group and Chapter Group, currently selling projects in the suburb.

First look: Focus Group Investments taps Victoria’s Great Design Fast Track for Fitzroy apartments

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.  
<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/2019/7/15/Mernda%202.jpg" alt="">
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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