<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.

&nbsp;

&nbsp;

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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AMP Capital has commenced the Marrickville Metro Shopping Centre’s $142 million development in Sydney's inner west.
Construction began this month with expectations of completion in two years.
The development, which AMP Capital is managing on behalf of owner UniSuper, will extend the existing Metro centre to the south between Smidmore and Edinburgh Roads.
On completion the centre will be expanded from 22,000 square metres to 33,000 square metres.
It will host an additional 44 new retailers including Coles, as well as a fresh food precinct and indoor and al fresco dining options.
AMP Capital’s global head of real estate, Carmel Hourigan said the development will support the transformation occurring in the Inner West.
There are a number of other construction projects for the local area currently underway or proposed, supported by total trade area population growth of 2.3% per annum since 2011, and projected growth of 1.5% per annum, to reach a population of 440,000 by 2021.
AMP Capital anticipates the project will generate 200 construction jobs and over 600 job opportunities for the local community on completion.
The development will ‘up-cycle’ a disused industrial warehouse located next to The Metro.
Designed by Hames Sharley, ADCO Constructions has been appointed as construction partner for the development.
The majority of the works will be undertaken outside the existing centre with minimal disruption to current tenants or trading.
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j.ballantyne1990-6AQqhLzZaK

Marrickville Metro’s $142 million development starts

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The Waverley Gardens Shopping Centre in Melbourne has been sold for $178 million.
A new joint venture between Elanor Investors Group, global firm Heitman and domestic institutional and wholesale capital partners were behind the purchase.
The 39,554 square metre sub-regional shopping centre is on a 106,000 square metre site 25 kilometres south-east of Melbourne’s CBD.
Major tenants account for 56% of total gross lettable area and it is anchored by Woolworths, Coles and ALDI supermarkets, as well as two discount department stores.
The sale was negotiated  by JLL’s Head of Retail Investments for Australasia, Simon Rooney, on behalf of Blackstone.
 “Sub-regional assets continue to appeal to yield-driven investors given the compression in yields in other retail sub-sectors and across other real estate sectors,” said Mr Rooney.
“We continue to see demand for retail assets where investors can progressively add value and drive enhanced returns, either via intensive asset management and/or development.
“Waverley Gardens offers an attractive and secure income return and provides future mixed-use development potential, given the extensive land parcel of 106,000 square metres.
“Investors are attracted to the high population growth in Victoria which is currently running at 2.2% per annum, now the strongest nationally.
“The state provides sound investment fundamentals with the economy underpinned by broad-based growth driven by strong growth in household consumption, tourism, infrastructure spending and business investment.
“Opportunities to acquire sub-regional centres in 2017 were limited, with sub-regional transaction activity falling to $1.1 billion, less than half the $2.3 billion (per annum) which sold between 2013 and 2016 – reflecting the volume and scale of portfolio sales in prior years.
“We have seen $1.3 billion transact in the year to date.”
The Waverley Gardens Shopping Centre in Melbourne has been sold for $178 million.
A new joint venture between Elanor Investors Group, global firm Heitman and domestic institutional and wholesale capital partners were behind the purchase.
The 39,554 square metre sub-regional shopping centre is on a 106,000 square metre site 25 kilometres south-east of Melbourne’s CBD. 
Major tenants account for 56% of total gross lettable area and it is anchored by Woolworths, Coles and ALDI supermarkets, as well as two discount department stores.
The sale was negotiated  by JLL’s Head of Retail Investments for Australasia, Simon Rooney, on behalf of Blackstone.
 “Sub-<a name="_GoBack" href=""></a>regional assets continue to appeal to yield-driven investors given the compression in yields in other retail sub-sectors and across other real estate sectors,” said Mr Rooney.
“We continue to see demand for retail assets where investors can progressively add value and drive enhanced returns, either via intensive asset management and/or development.
“Waverley Gardens offers an attractive and secure income return and provides future mixed-use development potential, given the extensive land parcel of 106,000 square metres. 
“Investors are attracted to the high population growth in Victoria which is currently running at 2.2% per annum, now the strongest nationally. 
“The state provides sound investment fundamentals with the economy underpinned by broad-based growth driven by strong growth in household consumption, tourism, infrastructure spending and business investment.
“Opportunities to acquire sub-regional centres in 2017 were limited, with sub-regional transaction activity falling to $1.1 billion, less than half the $2.3 billion (per annum) which sold between 2013 and 2016 – reflecting the volume and scale of portfolio sales in prior years.
“We have seen $1.3 billion transact in the year to date.”
 
 
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jonathanchancellor-7SQnKwU6yx

Joint investment venture snaps up Waverley Gardens Shopping Centre

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Coles are selling the Kedron Coles Shopping Centre, north of Brisbane, just a year after it opened.
Four years ago Coles Group submitted an application to the Brisbane City Council to build the supermarket on the 9,550 square metre site at <a href="https://www.commercialrealestate.com.au/property/346-gympie-road-kedron-qld-4031-2014718303" target="_blank">346 Gympie Road</a>.
The state of the art premises has a Coles supermarket and Liquorland store supported by a Coles Express Service Station and cafe Coffee Guru.
<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/2018/11/12/Coles2.jpg" alt="">
The supermarket features an in-store bakery, an open-style butchery and 200 undercover and shaded car parks.
Completed last year, the property is 100% leased, with 96% of the tenancy coming from Coles.
Coles has a new 15-year net lease of the near 4,100 square metres lettable space. The total returns at $1,848,633 per annum.
It has exposure to 31 million cars per annum.
Savills agents Steven Lerch, Ben Parkinson and Peter Tyson are marketing the property.
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jrobinson-rf4aSBido9

Kedron Coles Shopping Centre listed

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The Bonnet Bay shopping centre has sold under the hammer.
The 10-13 Kennedy Crescent listing was sold for $3.76 million by Burgess Rawson.
The holding is described as a dominant retail building in Bonnet Bay with no other competing retail within a 10 minute drive.
Set on a 2,653 square metre landholding with rear lane access, loading dock and 34 on-site car spaces the tenants are primarily on three-year and five-year leases.
However, some of the tenants are long term occupants with several having been at the centre for more than 10 years.
The centre also features "internet resistant tenants" – seven from eight lessees are restaurants or services that are not affected by online shopping.
Subdivision or development is also a possibility for the property which has a net income $223,100 per annum, plus GST.
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Bonnet Bay shopping village sold for $3.76 million

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Developer Clarence Property has received approval from Ballina Shire Council and the Joint Regional Planning Panel (JRPP) to deliver a $30 million neighbourhood shopping centre at its Epiq community in Lennox Head.
Woolworths entered into an agreement for a 15 year lease as anchor tenant on the back of the development approval and is expected to open its doors in mid 2020.
This is in line with the completion of the shopping precinct, which is expected to commence construction early next year.
The shopping centre will ultimately include a full line, 3,340 square metre Woolworths supermarket, 277 carparks, alfresco dining space and 1500 square metres of specialty stores.
<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/2018/10/24/EPIQ%202.jpg" alt="">
Epiq's projected population is set for around 1,700 residents once the community is fully developed.
The Clarence Property General Manager said: "The benefits are three-fold. Woolworths' commitment to the centre means locals will no longer have to travel to Ballina for a full line supermarket, which means more money will be spent locally. This in turn will help sustain local employment, with the Epiq shopping centre expected to support about 273 jobs."
Woolworths Regional Property Manager, Phillip Peel, said the company was thrilled to enter into an agreement to secure one of the key retail tenancies in the development as the growing population indicated clear demand for a full-line supermarket.
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Shopping centre in Lennox Head secures council development approval

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Woolworths Group Limited has sold its Woolworths Aveley shopping centre located in Western Australia for $26,925,000 to a private investor.
The sale of Woolworths Aveley represents the sharpest initial yield ever recorded for a neighbourhood shopping centre in Western Australia over $20 million, at 5.81%, claimed selling agents Cushman &amp; Wakefield.
Completed in 2016, Woolworths Aveley is a 4,919-square-metre centre with a near 100% occupancy rate, anchored by a full-line Woolworths supermarket with a 12 year lease term, BWS on a long-term lease, plus eight specialty stores, two kiosks, one ATM and a pad site medical centre.
The asset attracted strong levels of interest due to its location within an award-winning masterplanned residential community known as Vale Aveley, developed by Stockland.
The campaign attracted over 100 enquiries from local and off-shore investors with several offers received at the close of campaign. The terms of sale included an unconditional exchange with seven days due diligence period.
Neighbourhood shopping centres remain one of the most liquid asset classes, with 16 transactions completed during Q2 and Q3 2018 totalling more than $505 million.
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Perth neighbourhood shopping centre sells for nearly $27 million

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A shopping centre in the Sunshine Coast town of Yandina has hit the market.
Yandina Shopping Centre, on the corner of Old Gympie Road and Farrell Street, is anchored by a 1,000 square metre IGA supermarket and also has a mix of specialty stores.
A separate adjoining 1.214 hectare title, which is approved for development, is also included.
The centre has a net income of $988,583 and a Weighted Average Lease Expiry (WALE) of 6.34 years.
The property is being marketed by CBRE agents Rem Rafter, Brendan Robins, Michael Hedger and Joe Tynam through an expression of interest campaign.
“It’s a high performing centre with development land, as well as the main trading precinct’s only supermarket,” Rafter said.
“The centre’s future development, which would see it more than double its current size, will only further capitalise on the growing catchment and provide a critical retail centre for decade.”
Expressions of interest close on Wednesday, 31st October 2018 at 4pm.
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Yandina Shopping Centre on Sunshine Coast hits the market 

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The Campbellfield Plaza shopping centre in Melbourne’s northern suburbs will be offered for sale via an Expression of Interest campaign handled by JLL’s Simon Rooney, Stuart Taylor and Tom Noonan.
The Campbellfield Plaza is only 14km from Melbournes's CBD and was first built in 1983 before being redeveloped in 2004.
The 18,000 sqm shopping centre is anchored by Coles, Kmart, Aldi and Officeworks.
The centre is added to by 19 mainly non-discretionary specialty stores and a Kmart Tyre &amp; Auto.
Positioned on Hume Highway and Mahoneys Road.
The centre provides a total land area of 5.863 hectares, coupled with a WALE of approximately 8.87 years (by area) and Net Income of approximately $4.6 million p.a.
The Campbellfield Plaza offering is provides the only 24 hour Kmart in the northern suburbs of Melbourne, in addition to primarily food &amp; grocery based tenants and 822 car parking for customers.
Head of Retail Investments, Australasia Simon Rooney added “Small sub-regional shopping centres which are largely food, service and convenience-based remain highly sought after given the limited reliance on discretionary sales”.
“Campbellfield Plaza is also unique in that it offers a higher than average majors to specialty ratio when compared to sub-regionals that have come to market in recent years.” 
"We have seen $644.0 million transact in the year to date including the recent JLL sale of Sturt Mall to SCA for $73 m, Gateway Plaza Leopold to Charter Hall for $117.0 m, Toormina Gardens to Fort Street Real Estate Capital Fund III for $83.3 m, Grand Plaza Shopping Centre (50%) to Invesco Real Estate for $215.0 m, Brandon Park Shopping Centre to Newmark Capital for $135.0 m,” he noted.
Unlisted funds and offshore investors have driven acquisitions in the retail sector since 2013, having jointly accounted for 65% of activity.
Unlisted funds have acquired $4.1 billion of sub-regional assets since the surge in activity began five years ago, followed by offshore investors at $2.5 billion and REITs at $1.7 billion over the same period.”
He suggested that, “Victoria in particular, provides sound investment fundamentals with the economy underpinned by broad-based growth driven by strong growth in household consumption, tourism, infrastructure spending and business investment.”
Mr Rooney concluded by stating, "we’re expecting strong interest in Campbellfield Plaza due to its metropolitan Melbourne location only 14km from the Melbourne CBD, and strong investment fundamentals”
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Campbellfield Plaza shopping centre offered by JLL

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Village Fair Shopping Centre at Regents Park in south east Queensland has been placed on the market for sale. 
Savills’ Peter Tyson and Jon Tyson have been jointly appointed with Shane Sax of Pace Property to sell the centre via an Expressions of Interest campaign.
Village Fair is located in Regents Park and comprises a convenience scale neighbourhood centre anchored by a 2,000 sqm Drake’s supermarket supported by 25 specialty shops.
Regents Park is situated 22 radial kilometres south of the Brisbane CBD on the Mount Lindesay Highway. 
According to Peter Tyson, Village Fair features an annual income stream approaching $1.7million and will provide a rare offering in the tightly-held southern Brisbane shopping centre market. 
“The local market has been dominated by long term owners and the centre is expected to appeal to private investors and syndicates who dominate transactional activity at this price point." 
“Given the scarcity of similar assets in Brisbane’s greater southern region, and the strong ongoing demand for the neighbourhood shopping centre asset class, we expect a very high level of investor interest in this opportunity,” Peter Tyson said.
Village Fair has a gross lettable area of 4,611 sqm and occupies a 12,900 sqm site with exposure to the Mt Lindesay Highway and passing traffic of over 60,000 cars daily.
Jon Tyson said that there has been identifiable and constant demand from investors for neighbourhood retail opportunities. 
“The non-discretionary nature of this asset class is underpinned by food and service oriented tenants, which is exemplified in Village Fair,” Jon Tyson concluded.
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Savills list Village Fair Shopping Centre at Regents Park

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Research from JLL suggests the re-rating of neighbourhood shopping centres is reflected in the convergence of yields of neighbourhood and sub-regional centres.
Andrew Quillfeldt, Director – Strategic Research, JLL, notes that while average yields have trended down and converged, the yield spread between the strongest and weakest centres in all formats is unusually wide, with considerable overlap between the neighbourhood and sub-regional sectors.
“Clearly investors have become very discriminating in the pricing of retail assets,” said Quillfeldt. 
“A range of factors – demographics, location, management quality and tenant mix – are all key drivers of value at the individual asset level.
“Increasingly these factors dictate value rather than the simple categorisation of a centre.
“This reassessment of the retail sector creates opportunities for centre owners and active managers to add value by re-positioning their assets.”
Quillfeldt says owners of sub-regional centres have been actively driving rental growth by changing the tenant mix towards more F&amp;B, retail services and convenience uses –categories which typically pay higher average rents than other uses, such as apparel, and bolster the performance of shopping centres over the longer term.
Investor demand and competition for neighbourhood shopping centres has been strong since 2014, driven primarily by private investors.
The competition for neighbourhood centre assets has resulted in capital value growth and yield compression in all retail formats, but more so in the neighbourhood category.
The lower price point makes neighbourhood centres accessible to a wide range of private investors seeking yield.
The non-discretionary nature of tenancies often operating in neighbourhood centres also offers stability of income.
“This trend has been complemented by capital market conditions conducive to private investors, given the low cost of debt finance and subdued returns available from many other investment classes,” said Quillfeldt.
“We expect shopping centre formats and performance profiles will evolve as urban density continues to increase and shopping habits change, which will have implications for how they are valued and priced.”
JLL suggest it's the first yield cross-over on record and while it is too early to know whether this is a permanent shift, it is evidence that investors are re-assessing neighbourhood centres that have historically traded at a discount to other retail formats – sub-regional and regional centres as well as CBD retail assets.
<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/2018/8/14/FPA.jpg" alt="">
According to Peri Macdonald, Executive General Manager – Retail, Frasers Property Australia, the change in the retail investment hierarchy can be attributed to a number of factors, not least the evolution of shopping towards a more convenient, non-discretionary focus.
“Population growth and increased density in inner city catchments are giving rise to greater demand for new forms of convenience retail, as more health and lifestyle uses emerge and demand for food and retail services increases,” Macdonald says.
“This growth reveals a distinct opportunity for the emerging super-neighbourhood class of shopping centre, which mirrors the locally-curated tenancy mix of neighbourhood centres on a size scale similar to sub- regional centres.
“As planning regulations increasingly embrace more integrated and mixed-use forms of development, both in inner-city areas as well as for greenfield town centre sites, investment interest in the neighbourhood and super-neighbourhood categories can be expected to intensify.”
While there has traditionally been a clear hierarchy in retail in terms of risk profile for each shopping centre category, the changes in physical format to the traditional neighbourhood shopping centre, including the emergence of the super-neighbourhood centre concept, will support the recent convergence of yields between the two retail formats.
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