<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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A new retail and commercial precinct in Casuarina is heading for completion in February 2018, with six operators already committing to long term leases within the centre.
Developed and owned by Bruce Coulson, ‘The Commons’ is located between Casuarina Way and Grande Parade in the heart of Casuarina.
On completion, it will have 12 food, medical, health and general retail services as well as a childcare centre with 175 places. 
Rents range from $450/sqm to $725/sqm.
The project is being marketed by Kelly Buxton and Luke McGrath of Colliers International.
The leased six tenancies within the centre to date have tenancy sizes ranging from 40sqm to 227sqm and leasing terms ranging from 5 to 10 years.
The businesses include: Blackboard Coffee - a licensed café and coffee roaster; The Crafty Cow – a smokehouse and bar; Nikkou - women’s and kids fashion; Child psychologist and speech therapist; Chiropractor; and F45 – a fitness training studio.  
The owners of The Crafty Cow are two couples that will be relocating their families from Brisbane to Casuarina to follow the relaxed beach lifestyle and their passion for food. 
One of the owners, Jodie Daley, whose background is in hospitality said that they are very excited about bringing a new concept to the area, a smokehouse and bar that will serve craft beer, tapas, burgers, finger food and platters. 
“Considering Casuarina is one of favourite holiday destinations, we always knew we were going to relocate one day and set up a business here.” 
Buxton of Colliers said the remaining tenancies within the centre range in size from 41sqm to 147sqm and would suit fast food operators, general retail, real estate agency, medical centre, dentist or another health practitioner. 
The main trade area includes about 24,000 residents, made up of mostly retirees, young families and first home buyers, with the annual population growth rate projected at approximately 3.6 per cent.
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jonathanchancellor-7SQnKwU6yx

Soon-to-be completed retail centre 'Commons' in Casuarina has six leases already

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A Coles-anchored neighbourhood shopping centre in Cairns has sold to Shopping Centres Australia for $24.75 million. 
Sugarworld Shopping Centre is a convenience-based neighbourhood centre, 15 km south of the Cairns CBD.
Apart from Coles, it has 12 specialty retailers and a Coles Express service station pad site.
The deal was negotiated by JLL’s Sam Hatcher and Jacob Swan on behalf of IRAPT.
“The Coles Supermarket (also encompassing Liquorland and Coles Express outlets) accounts for 66% of the shopping centre’s fully leased net income, and has a strong 3.7% MAT year on year growth,” said Sam Hatcher.
The centre is expected to continue from the forecast 3.7% average annual population growth in the main trade area till 2031.
National director of Retail Investments, Jacob Swan said, 
It has a 10.91 year WALE (by income) while Coles is on a 20-year lease, offering long-term secure income.
Neighbourhood transaction volumes in Queensland increased by 15% in the last 12 months to September 2017 despite being 10% lower on a national basis over the same period.
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Sugarworld Shopping centre in Cairns changes hands for $24.75 million

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A shopping centre in the riverside city of Launceston in Tasmania has been sold through Savills for $38.55 million.
The off-market transaction for <a href="https://www.linkedin.com/company/2588298/" target="_blank">Mowbray Marketplace &amp; Target Centre</a> adds to Savills’ recent track record of more than $128 million worth of Tasmanian retail investment deals. 
The sub-regional shopping centre is anchored by Woolworths and Target, in addition to 16 other shops.
It has a total lettable area of more than 12,000 sqm.
The selling agent was Pat De Maria.
 
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Tasmanian shopping centre fetches $38.55 million: Savills

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Electronics retail chain JB Hi-Fi and chocolatier Max Brenner will open new stores at Australia Fair shopping centre on the Gold Coast later this year, as the iconic Southport complex completes its $25 million upgrade.
JB Hi-Fi, Australia’s largest home entertainment retailer and Max Brenner are the latest tenants to join the new-look retail hub, expected to begin trading by December.
JB Hi-Fi will be located next to Telstra on the ground floor, while Max Brenner will operate a café and dessert bar, situated by the Scarborough Street entry.
Australia Fair’s upgrades include modernisation of the ground floor and its exteriors.
“We are thrilled to welcome JB Hi-Fi and Max Brenner – both household brands known and loved by Australian families – to Australia Fair’s retail family,” Australia Fair general manager Ramon Otten said.
“It is certainly exciting to see the transformation progressing so well and we look forward to unveiling a vibrant and contemporary shopping experience ahead of the 2018 Commonwealth Games,” he said.
Meanwhile, work is also under way for the expansion of Coles into the former outdoor food court, expected to be open before Christmas.
The exterior facelift is creating a contemporary facade for the retail, dining and entertainment complex, with the new structure to feature lighting and fresh signage bearing Australia Fair’s new branding.
<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/2017/09/11/AustFair2.jpg" alt="">
Other new tenants include Colette by Colette Hayman, Ted Ross, U Grill, Joy Stylist and Green Valley Butcher. Brazilian restaurant and bar The Grill House, Vintage Grind, Stella Saigon Street Food, Chikor, Wrap and Roll and LiquorLand.
Stage one of the redevelopment project is expected to be completed by Christmas.
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JB Hi-Fi, Max Brenner to open stores in Gold Coast's Australia Fair shopping centre

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Benowa Village Shopping Centre on the Gold Coast is on the market through an expressions of interest campaign closing 5 October.
Coles Supermarkets Australia listed the property through JLL.
The centre was built in 2016 and features a Coles supermarket, McDonalds drive through, Coles Express service station and 13 specialty stores.
Sam Hatcher, JLL Director of Retail Investments said the centre contains the largest supermarket in the Main Trade Area, allowing it to capitalise on the considerable forecast population growth and retail expenditure in the trade area.
“We see growth in the retail spend and rental profile being realised through a large population of almost 41,000 in the Main Trade Area, projected to grow strongly at 1.5 percent to just under 50,000 persons by 2030,” he said.  
“ The Gold Coast has traditionally had an undersupply of full line supermarkets; as prime development sites have been absorbed by high density residential developments. This further highlights the dominant outlook for Benowa Village.”
JLL’s Jacob Swan said that neighbourhood shopping centres remained tightly held with only 28 transactions recorded nationally in 2017 to-date (totaling $893 million), compared with 65 in 2016 ($1.6 billion).  
“Queensland has had a disproportionately high level of activity relative to the other states," he said.
"Interestingly, of the 28 neighbourhood shopping centre transactions that have occurred this year, 14 have been in Queensland compared with only nine in Sydney and just four in Melbourne, highlighting investor confidence within Queensland’s retail market. 
“Given the shortage of available investment opportunities in New South Wales and Victoria, interest in Queensland assets has grown significantly.
"There is strong pent-up demand for prime neighbourhood centres so we anticipate considerable domestic and offshore interest for this centre.”  
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Benowa Village Shopping Centre, Gold Coast, listed for sale

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A large format retail centre, anchored by JB Hi-Fi and TK Maxx in south-western Brisbane is being listed.
The Zone Oxley centre also has five mini majors and two supporting tenancies. It is fully leased to leading retailers including JB Hi-Fi (1,958sqm), TK Maxx (1,980sqm), RT Edwards, Eureka Street Furniture, Sleepy’s, School Locker, Pet Stock and Subway. 
The majority of the tenants are on their second lease terms, highlighting the popularity of the shopping centre. 
The Zone Oxley is located within a prime, metro-Brisbane large format retail precinct, which includes The Good Guys, Bunnings Warehouse, Harvey Norman, Officeworks, Super Amart Furniture, Super Cheap Auto and First Choice Liquor. 
In total, the Oxley large format precinct has more than 35,000 sqm of gross lettable area.
The site is being sold through an expressions of interest campaign closing September 7.
It is being marketed by JLL’s Jacob Swan and Sam Hatcher.  
“Large-format retail market fundamentals have been well-supported by a strong rebound in household goods spending and very limited supply of floorspace in recent years,” said Hatcher.
“Household goods spending is growing at 3.8% per annum in Queensland as at May, which is the second strongest state, nationally. The high level of housing construction activity will drive household goods spending over the short to medium-term, underpinning retailer demand for Large-Format Retail space.”
He said Large-Format Retail has been re-rated in 2016 and 2017, reflecting the improvement in leasing conditions and the attractive yield spread relative to more traditional shopping centres – such as sub-regional shopping and neighbourhood.
“Only $475 million of retail assets have transacted in Queensland in 2017 year-to-date, compared with $2.1 billion in 2016. The slowdown in transaction activity reflects the limited number of investment opportunities in the first half of the year.” 
In June, a neighbourhood centre anchored by Woolworths and Aldi in Brisbane’s northern suburb of Warner was listed. MarketPlace Warner is a ‘best in class’ shopping centre, with the Woolworths supermarket believed to be one of the best performing Woolworths in Queensland by MAT, with turnover well above Urbis benchmarks for a double supermarket anchored shopping centre.
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Large format retail centre in Brisbane listed

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A Woolworths-anchored Beaudesert Central shopping centre has been snapped up by a fund manager for $16.85 million in an off-market deal through Savills.
Beaudesert is a town 70 kilometres south of Brisbane and Beaudesert Central is the dominant centre servicing the region. 
Following this deal, Melbourne-based MPG Funds Management has now added the centre to its open ended MPG Retail Brands Property Trust, which now operates 11 retail assets across Australia with a combined value of more than $100 million. 
The transaction reflected an initial yield of 6.5%.
It was brokered by Savills’ Peter Tyson and Jon Tyson on behalf of a private vendor. 
“The MPG Retail Brands Property Trust had been seeking a suitable Queensland asset for the portfolio for some time. The Beaudesert Central acquisition is the first Queensland asset in the fund,” Tyson said.
The shopping centre comprises a single-level, open neighbourhood shopping centre developed in 2007 and is anchored by a 3,279 sqm Woolworths supermarket with 12 specialty tenants. 
The centre sits on a 14,230 sqm site fronting the Mount Lindesay Highway, adjacent to the central business precinct.
MPG managing director Brett Gorman said the Beaudesert Central is located in an area with strong forecast growth, so “it is a great fit for our business”. 
“The other emerging economic driver of the region is the recent catalyst development of the long-mooted in-land port road–rail hub of the Bromelton State Development Area which is now under development. This major project is expected to generate significant employment opportunities going forward,” added Tyson.  
Other recent transactions brokered by Savills this year include SCA’s acquisition of both Mudgeeraba Market and Worongary Town Centre on the Gold Coast for a combined $82.1 million, the sale of Park Village in Brisbane’s west for $35.2 million, and the sale of Pittsworth Plaza for almost $10 million. 
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Beaudesert shopping centre sold for $16.85 million through Savills  

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Perth-based property company M/Group has purchased Wodonga Plaza in regional Victoria for $43.5million.
Lloyd Clark, M/Group Managing Director said the company’s targeted approach to identifying regionally located assets with good lease covenants and value-add potential has attracted significant investment interest from those looking for more than just a passive vanilla return. 
“Every company aspires to having a network of investors that trust what they do and how they do it. We are really excited to be taking this group of loyal and new investors into the eastern states,” he said.
“Rather than target fully leased assets at capped rates of 5 percent to 7 percent, our interest is in securing properties that not only offer excellent income but also present development, refurbishment or lease re-positioning potential with the aim of achieving capital uplift as well as delivering excellent cash flow income.
"It is a similar strategic and considered approach we take across all our property activities and historically we have delivered quality investments and good returns.
“Wodonga Plaza is a great opportunity in a great regional city that is the gateway to Victoria from NSW. It is currently and will continue to be the largest centre in the region and we have already secured a new 10-year lease with Best and Less with multiple other tenant negotiations underway.
Wodonga Plaza is on a 4.4ha island site with four street frontages and gross lettable area of 17,200 sqm. Key anchor tenants include Target and Coles, with three current mini majors Amcal, Reject Shop and Best and Less, and around 55 specialties stores.
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Wodonga Plaza settles for $43.5 million

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The Terrace Central Shopping Centre at Raymond Terrace, north of Newcastle, has sold for $33.5 million to Panthera Property Group on a passing initial yield of 6.55 percent.
David Mathews, JLL’s Director, Sales &amp; Investments, New South Wales, said Terrace Central generated significant interest from a range of investors such as institutions, syndicators and private investors.
“We continue to see institutions divesting assets within their portfolio which are non-core to their investment strategy," he said.
"Conversely, private investors, syndicates and boutique funds management groups are seeking to grow their exposure to the tightly-held neighbourhood shopping centre sector.
“JLL has recorded just 17 neighbourhood transactions in Australia so far in 2017 totalling $381.1 million, but only 5 have been in NSW - including Terrace Central.
“The market has been somewhat stock constrained, and investors are broadening the range of assets under consideration in terms of risk profile,” said Mr Mathews, who worked in conjunction with Queensland Retail Investments Sam Hatcher and Jacob Swan."
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Raymond Terrace retail centre sold for $33.5 million

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Australia’s major shopping centre landlords are recognising the need for a mall to also play the role of a community centre as the sweeping pace of changes in technology and society makes a big impact on retail.
In fact, the retailing environment is the most challenging it has ever been, driven by both structural and cyclical headwinds, writes Adrian Harrington, head of funds management at Folkestone in Cuffelinks.
The arrival of global names in recent years has reshaped the retail landscape – Zara, H&amp;M and Uniqlo to name a few. Amazon’s imminent arrival is already creating flutters in the market, he says.
At the same time, local retailers such as Dick Smith, Payless Shoes and Rhodes &amp; Beckett have disappeared from the scene. The latest ABS retail sales numbers reveal anaemic retail spending, while online retail spending continues to gain momentum.
In spite of the buzz around Amazon’s entry some in the retail community say it won’t be easy for the online retailing giant.  Harvey Norman founder Gerry Harvey recently said in news.com.au that “Amazon in Australia, it is not going to be as easy as the US … most of the retailers there rolled over but they won’t here.”
In fact, a report from Colliers International says that Amazon’s value proposition combined with its need for immense space may make it difficult to find a suitable base within Sydney.
Figures 1 and 2 highlight the relative underperformance of retailers and the listed retail A-REITs in the past 12 months, as investors become increasingly concerned about how both components of the retail marketplace respond to the significant headwinds.
<a href="https://www.propertyobserver.com.au/images/2017/06/09/Retail1.jpg" target="_blank">Click to enlarge</a>
<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/2017/06/09/Retail1.jpg" alt="">
<a href="https://www.propertyobserver.com.au/images/2017/06/09/Retail2.jpg" target="_blank">Click to enlarge</a>
<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/2017/06/09/Retail2.jpg" alt="">
Given retail assets comprise more than 55% of the listed A-REIT sector, it is not surprising that the relative performance of the A-REIT sector has been impacted. Westfield, Vicinity and Scentre, the three largest retail A-REITs, have all significantly underperformed the Index in the past year.
Harrington cites Victor Gruen — the designer of the first US shopping mall in 1956, saying, “The merchant has always been and will always be most successful where his activity is integrated with the widest possible palette of human experiences and urban expressions.”
Gruen envisaged that shopping centres need not be just a place of selling, but a place where the retail space is complemented by entertainment, cultural and community services. 
Harrington says shopping centres need to be recast as they recognise that people don’t just come there for a transaction. 
“They need to create a unique customer experience, one that engages with consumers, embraces technology to enhance the experience and inspires people to visit not because they have to, but because they want to. 
“In effect, they need to become a community gathering-place where people shop, play, work and live.”
Australia’s major shopping centre landlords are recognising Gruen’s vision almost 60 years ago. 
Harrington says retailers are revisiting their retail strategy, with the longstanding model of rolling stores out in every shopping centre changing to fewer but more innovative retail stores located in the larger, more productive ‘destination’ centres that offer consumers more than just a retail experience.
Southdale incorporated many of the features that have become synonymous with today’s modern shopping centre, he says. Southdale incorporated enclosed and climate controlled, anchor stores at either end of the mall, escalators connecting different levels and a public area in the middle.
Some of the best shopping centres in the country are becoming mixed-use spaces comprising hotels, residential and community facilities. 
Chadstone Centre, Australia’s largest shopping centre, has introduced the first Legoland Discovery Centre, and is adding a hotel and a 17,000 sqm office tower. Scentre, owner of the Westfield centres in Australia, is looking at residential and other entertainment options to complement their retail space.
However, the biggest impact of retail disruption will be on sub-regional and lower quality centres. These centres tend to have a higher exposure to discount department stores, limited space to incorporate non-retail drawcards, and lower productivity of their retail space.
He says investors looking at the retail sector are at a cross-road. With Amazon’s entry, the market will get more competitive and the gap between the winners and losers will widen and picking winners will be lot more difficult.
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