Brisbane-based builder-developer <a href="https://www.apartments.com.au/developers/bpg-developments">BPG Developments</a> has secured approval for its $250 million Newstead apartment tower.

The building, at <a href="https://www.apartments.com.au/new-apartments/16-22-maud-street-newstead-qld-4006">16-22 Maud Street</a>, will have 103 apartments across the 15-level building which will be crowned with a rooftop wellness facilities.

Residents will range from expansive two-bedroom residences, through to several penthouses on level 15. There will be 1,380 sqm&nbsp;dedicated to wellness-inspired amenities including shaded outdoor dining nooks, a fire pit, barbecue area, sunset lounge, gym, yoga deck, magnesium lap pool, sun deck, a sauna, steam room, and cold plunge pool.

BPG put together the 2,430 sqm super-site combines three separate titles – a vacant warehouse, an electrical &nbsp;wholesaler and an industrial shed, which were acquired in two separate transactions over a 12 month period. &nbsp;

<img alt="BPG Developments secures development approval for $250 million Newstead project" data-entity-type="file" data-entity-uuid="d007d4fb-9c44-4e54-b79e-50b68711ebbd" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Final%2012_Podium%20Plaza%20View_r.jpg?VersionId=w6zql5hPjAp3j1..ZTCaYLzN65Ora8Z2" />

BPG was founded by industry veterans Nick Parr and Glen Williams. Parr said the project feels like a "coming home of sorts" for the pair, as they've both spent&nbsp;both spent the majority of their lives living in Brisbane's inner north. &nbsp;

“I lived just up the road in Teneriffe for most of my childhood," Parr said.

"We saw this site as an opportunity to deliver a timeless project in arguably Brisbane’s most popular suburb, where &nbsp;the standard for luxury design and amenities is incredibly high."

Parr believes Brisbane is in a bit of a "sweet spot" currently, in that&nbsp;construction prices have stabilised and demand has continued to climb which means the market is tightening up.&nbsp;

“The Brisbane market is unique in that there is no shortage of sites with existing development approvals, the issue is around the availability of builders who can deliver such projects. We are one of the few builder-developers who can build our own projects at scale &nbsp;so we are able to move quickly into delivery mode which gives confidence to our purchasers.” &nbsp;

Williams said they are proud of the project both&nbsp;in the sense of the significance of the site, but also in the quality and timelessness of the design. &nbsp;

“At BPG Projects we are conscious to prioritise quality over volume, so we tend to &nbsp;approach one project at a time," Williams said.

“For us we are motivated by creating a lasting legacy in our projects, so working with Plus &nbsp;Architecture to realise this vision has been a rewarding journey.” &nbsp;

BPG has appointed MOTIV to handle the sales and marketing of the new tower, which is expected to launch early next year. MOTIV Founder Carly Cottam said the project epitomises everything Newstead is about.

"Newstead is a huge success story in the revitalisation of Brisbane, and as a result it’s now one of the most popular inner suburbs, characterised by its exceptional urban design and wellness-driven lifestyle," Cottam said.

“We know this market values flexibility in floorplates, abundant storage and really liveable &nbsp;kitchens and interiors. That’s why designing an entire building around the owner occupier market with 100 &nbsp;percent of the floorplates representing two or three-bedroom residences mean this project is primed to appeal to the right audience.” &nbsp;

BPG completed Sable Palm Beach on the Gold Coast in 2019, and has plans for more developments in the suburb, as part of their $500 million development pipeline.

Joel Robinson

BPG Developments secures development approval for $250 million Newstead project

With three projects currently in market in Elizabeth Bay and Mosman, two of which are under construction and completing next year, apartment developer Toohey Miller is expanding its new development pipeline across Sydney.

<a href="https://www.apartments.com.au/developers/toohey-miller">Toohey Miller</a>, led by Nick Couloumbis, has filed plans for <a href="https://www.apartments.com.au/new-apartments/oxford160-160-oxford-street-paddington-nsw-2021">Oxford160</a>, 44 new apartments across a nine-storey building on Oxford Street in Paddington. It will have 12 apartment designated as affordable housing as per the Housing SEPP 2021 mid-rise reforms which trigger increased height limits, and street-level retail spaces.

The vision for the project is to create a "welcoming and family-friendly place to live with a mix of quality and affordable homes to support the Paddington community at different life stages."

Designs prepared by Smart Design Studio outline a contemporary, articulated streetwall along Oxford Street, stepping back at the upper levels to mitigate bulk and improve visual integration with the local character. A new laneway will improve pedestrian connectivity to Shadforth Street, while communal open spaces are integrated at both ground and rooftop levels.

<img alt="Oxford160" data-entity-type="file" data-entity-uuid="0d6e77ed-8c25-4c52-a82d-dd076c66c777" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202025-12-01%20at%209.52.46%E2%80%AFAM.png?VersionId=hjYcxIWIDOn7JWeom6RzIz7MWc1VG6HF" />

According to the Urban Design Supporting Letter prepared by architect and urban designer Matthew Pullinger, the new scheme “represents a contextually sensitive, responsive and high quality renewal of the site and the broader urban landscape”.

Pullinger said there are a range of benefits to the project, namely its contribution to the renewal of "this part of Oxford Street as a distinctive higher density urban high street and a defining element of greater Sydney’s urban character, thereby enhancing the vitality and liveability of this important street."

The new building will replace&nbsp;a dated 1960s-era apartment block which has 27 studio apartments.&nbsp;Design documents note that the current structure detracts from the character of Oxford Street, with the proposal seeking to restore and enhance the continuity of active shopfronts along the northern edge of the street.

The last project to launch on Oxford Street sold out immediately. It was fashion legend Robby Ingham's The Cambrian, which sold all of its 15 apartments in the first five hours of its weekend launch in 2023 through Ben Stewart.

Toohey Miller plans rare new apartment development on Oxford Street, Paddington 

<a href="https://www.apartments.com.au/developers/geocon-group">Geocon</a>&nbsp;is advancing its plans for its new&nbsp;mixed-use precinct in Braddon, updated the designs for the prominent site at the intersection of Northbourne and Wakefield Avenues.

The Canberra-based developer is proposing 558 apartments and seven commercial tenancies across four buildings under a staged application first lodged in 2023. The project also includes four levels of basement parking, communal spaces, pedestrian links, and landscaping enhancements.

While the development’s scale remains consistent, the current amendment introduces extensive changes to apartment layouts, building envelopes, façade articulation, and basement design.

According to the Design Statement by <a href="https://www.apartments.com.au/architects/cox-architecture">Cox Architecture</a>, these adjustments were driven by two core objectives: “enhancing apartment and common area amenity” and “ensuring acknowledgement of the housing design guidelines, entity advice, and planning expectations, while retaining the integrity of the original architectural concept”.

<img alt="Northbourne and Wakefield Avenues" data-entity-type="file" data-entity-uuid="066194ad-d73f-49b7-8e39-09e20690a7ac" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/pers%202.png?VersionId=I7eLnim8erdwd2Yu1N5sIcLSndeOK_TC" />

The revised apartment mix has been rebalanced to increase diversity and affordability, including a broader range of unit sizes and a higher proportion of three-bedroom dwellings. The updated design also removes problematic layouts, such as “snorkel” bedrooms and internalised studies, to improve liveability and natural light access.

Cox Architecture noted that “studios and smaller one-beds provide entry-level housing and broaden affordability,” while the number of family-sized three-bed apartments has been increased “in direct response to market demand and policy objectives”.

The circulation spaces within the towers have been redesigned to improve wayfinding and daylight penetration, while the ground floor layout has been reworked to create clearer and more visible entry points, particularly from Northbourne Avenue.

Refinements to the building’s massing and façades have also been introduced in response to planning feedback, with additional breaks and articulation to reduce perceived bulk. “Rooftop plant and lift overruns have been integrated and screened, resolving visibility concerns,” COX stated.

Basement levels have been consolidated and made more efficient, with improvements to bike and storage facilities.

<img alt="Northbourne and Wakefield Avenues" data-entity-type="file" data-entity-uuid="a1ab9357-707d-46fd-95d7-d6e09c70f20b" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/pers%203.png?VersionId=crDXvrmDsGqFGcb_p6NSUlsr0vYsRacq" />

The precinct’s pedestrian connections have been clarified, and the public realm has been restructured to improve permeability and align with the broader Northbourne corridor urban design framework. Landscaping updates include increased deep soil zones and rooftop communal areas, with tree management to be addressed separately.

Geocon acquired the 10,633 sqm site earlier in 2023 following approval of a prior build-to-rent scheme by Evri Group. The existing nine-storey commercial building was demolished in 2022.

The current proposal, designed by Cox Architecture, is positioned as a key contributor to the ACT Government’s urban renewal vision for Northbourne Avenue, an established transport and development spine served by light rail and major arterial roads.

First look: Geocon refines plans for four-tower precinct on Braddon's Northbourne Avenue

The booming Bilinga beachfront is set for another luxury apartment development, with plans filed for KYRR, an 11-level block on the dress circle Pacific Parade.

<a href="https://www.apartments.com.au/new-apartments/kyrr-70-pacific-parade-bilinga-qld-4225">KYRR</a>, on the corner of Pacific Parade and Archer Street, will comprise 24 apartment on its prime 1,009 sqm site. There had previously been plans for a much more boutique seven-storey, five-unit scheme.

Plans have been pitched by CHM Living, an entity associated with James Quinert, the founder of Norwood Constructions which is based in Melbourne.

<img alt="70 Pacific Parade and 1 Archer Street" data-entity-type="file" data-entity-uuid="2f6159ee-3511-4b16-b9fa-ae8c008b8faf" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/site_5.png?VersionId=4n2YaBQdjXcshUAkxX8ei9X5N0v2AWqB" />

Designed by <a href="https://www.apartments.com.au/architects/byculprit">ByCulprit Architects</a>, the project includes a sculptural façade with soft curves and natural finishes, inspired by the rhythm and calm of the nearby Pacific Ocean.

According to the Town Planning Report by Town Planning Alliance, the project aspires to reflect the intent of the Medium Density Residential zone, aiming to "contribute to the city’s iconic skyline along the coastal spine" with a high degree of architectural modulation and landscaping that softens the built form.

There will be 22 large-scale three-bedroom apartments and two five-bedroom penthouses. The wellness amenities, including a gym, steam room, sauna, pool, golf simulator, and cold plunge, will sit on level one.

Kyrr will follow in the footsteps of <a href="https://www.apartments.com.au/buildings/pipis-bilinga-303-golden-four-drive-bilinga-qld-4225">PIPIS</a> in Bilinga by SIERA, which is all but sold out with just one of its luxury 19 apartments left to sell. The building set suburb records, with the penthouses both selling for over $8 million. Down the road is Bilinga House, which has a wider mix of configurations and price points starting from just over $1.2 million.

First look: Bilinga beachfront set for new luxury apartment development, KYRR

<a href="https://www.apartments.com.au/developers/coronation-property">Coronation Property</a> has received development approval for Archer &amp; Albert, a 32-storey, mixed-use residential development in the heart of Chatswood.

Located at 57–61 Archer Street and 34 Albert Avenue, <a href="https://www.apartments.com.au/new-apartments/archer-albert-chatswood-57-61-archer-street-chatswood-nsw-2067">Archer &amp; Albert</a> will deliver 150 new homes, including affordable housing, alongside ground-floor and podium retail, commercial space, a heritage house activated as a café, additional ground-level activation, and a landscaped publicly accessible park designed for community use.&nbsp;

<a href="https://www.apartments.com.au/new-apartments/archer-albert-chatswood-57-61-archer-street-chatswood-nsw-2067">Archer &amp; Albert</a> is one of the few large-scale residential developments in the heart of Chatswood City to progress through a council-led architectural design competition and secure development approval, positioning it at the forefront of design led housing.&nbsp;

<img alt="Archer" data-entity-type="file" data-entity-uuid="33cb754a-1493-4203-bd16-096d320597f6" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/A%2BA_C03_EXT_StreetScape_ID1.jpg?VersionId=oLUPFVAMxuRUTH1Bwki16R48cEo.vLeB" />

Designed by global architecture practice <a href="https://www.apartments.com.au/architects/woods-bagot">Woods Bagot</a>, long-term collaborators of the Coronation team, the project draws inspiration from the Sydney Blue Gum High Forest and the leafy character of the South Chatswood Heritage Conservation Area. The design integrates a restored heritage-listed home and establishes a landscaped connection between Chatswood’s urban centre and its surrounding residential neighbourhoods.&nbsp;

“This is an important project for us and our first entry into the North Shore,” said Joe Nahas, Managing Director of &nbsp;Coronation Property.&nbsp;

“We are deliberate about where we invest and build, <a href="https://www.apartments.com.au/developments/chatswood-nsw-2067">Chatswood</a> stands out because the fundamentals are already strong. Transport, employment, education, retail and health are all in place. Archer &amp; Albert is about adding new housing into a centre that already works and building on what exists.”&nbsp;

<img alt="Chatswood" data-entity-type="file" data-entity-uuid="620fcd78-00be-489b-823a-ca353387b91b" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/A%2BA_C04_EXT_PARK_HA_ID2.jpg?VersionId=NxSl04Zl1rzt94xlXNA6CNzSR9XMyLgP" />

Aras Labutis, Head of Urban Transformation at <a href="https://www.apartments.com.au/developers/coronation-property">Coronation Property</a>, said the project reflects a disciplined, collaborative approach to city shaping.&nbsp;

“Chatswood sits at an important junction between high-density commercial activity and established residential &nbsp;neighbourhoods," Labutis said.

"Our focus for Archer &amp; Albert was to manage that transition carefully, respecting what’s already there &nbsp;while contributing something new that feels deliberate and enduring."

The approved scheme delivers:&nbsp;

<ul>
	<li>A 32-storey mixed-use tower comprising 150 homes, including 41 affordable housing dwellings • 530sqm of ground-floor retail, dining and commercial offerings&nbsp;</li>
	<li>A 760sqm wellness tenancy integrated within the podium&nbsp;</li>
	<li>A restored heritage building, thoughtfully reimagined as a café overlooking the park&nbsp;</li>
	<li>A landscaped public park, designed as a calm green retreat in the heart of Chatswood&nbsp;</li>
	<li>Resident amenities include a premium gym, golf simulator, mahjong room, dedicated wellness areas, private &nbsp;dining facilities and a curated wine room&nbsp;</li>
	<li>Deep private balconies designed to capture outlooks and northern light&nbsp;</li>
	<li>A refined material palette of natural stone, timber and terracotta&nbsp;</li>
</ul>

[smartcode_project_cta:default project_id=29796]

Coronation receives green light for Archer & Albert apartments in Chatswood

Brisbane Cbd

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Charter Hall Group (Charter Hall or Group) has partnered with global real estate investor QuadReal, to acquire one of the largest remaining Brisbane CBD development sites, located within the heart of the North Quay renewal precinct.

This acquisition further extends the Charter Hall and QuadReal partnership following the 2019 $630 million acquisition of 201 Elizabeth Street, Sydney, by securing an underdeveloped site and providing optionality for two simultaneously submitted planning applications, which propose either a twin or single tower development.

Charter Hall Managing Director and Group CEO, Mr David Harrison, said “We are delighted to extend our relationship with QuadReal, one of Canada’s largest property groups."

QuadReal Head of Asia, Mr Peter Kim, said “Australia remains a key focus for QuadReal, and the North Quay investment is a direct product of the long-term strategic relationship we have with Charter Hall in that market."

Charter Hall has taken a flexible approach and lodged two Development Applications (DAs) with Brisbane City Council for 309 North Quay — a significant, 6,400sqm infill site located in the Roma Street Urban Renewal Priority Development Area. This development will further enhance the North Quay precinct of the CBD as it undergoes significant revitalisation. 

The proposed project, which comprises a DA for a single 50,000sqm commercial tower and a separate DA for two smaller commercial towers of 23,000 sqm &amp; 36,000 sqm each, will act as a catalyst for urban renewal of the surrounding sites, including Roma Street Station — Brisbane’s new ‘Grand Central Station’ made possible with Cross River Rail, Brisbane Metro and the proposed Brisbane Live the city’s new entertainment arena. 

The strategically positioned site and previous long-term home of Triple M and B105, is the gateway into the CBD from Coronation Drive, North Quay and the William Jolly Bridge, with uninterrupted views of the Brisbane River and a short walk to the city’s leading entertainment, dining and lifestyle precincts including Queen Street Mall, Suncorp Stadium, The Barracks, Roma Street Parklands, the Queensland Cultural Centre and South Bank.
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Charter Hall has acquired one of the largest remaining Brisbane CBD development sites, located within the heart of the North Quay renewal precinct

jordan_55689

Charter Hall submits DAs for Brisbane CBD riverfront site

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Our latest Queensland development, Imperial on Panda, offers you a fantastic opportunity to secure a spacious 3-bedroom home in Doolandella, Queensland for just $350,000.

<ul>
<li>Boutique collection of 38 residences</li>
	<li>Solid brick foundation</li>
	<li>Timeless modern interior design</li>
	<li>Each townhome features a remote control operated garage, a spacious backyard, ceiling fans and carpet in all bedrooms</li>
	<li>Kitchens feature stone benchtops and stainless steel appliances</li>
	<li>Air conditioning units have been fit in the living areas and master bedrooms, providing you with excellent thermal comfort year-round</li>
	<li>Located just 17 kilometres from Brisbane CBD </li>
	<li>Public transport is just a stone's throw from your doorstep</li>
	<li>A Woolworths shopping centre has been planned nearby</li>
</ul>
Secure your brand new home in a growing neighbourhood today by reaching out to a sales consultant via Urban. 
 
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Patrica

New boutique collection of completed townhomes available in Doolandella, Queensland

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Discover the exciting new residential addition to Brisbane’s Kangaroo Point – M Apartments.

From the stunning interior design, to the fantastic central location, these apartments offer you the ultimate lifestyle upgrade from just $410,000*.

There are 46 apartments designed by Red Door Architecture, with three commercial spaces located on the ground floor.

 
[smartcode_project:default project_id=29156]

<h2>What M Apartments has to offer</h2>

<ul>
<li>Ducted air conditioning, timber flooring and Terrazzo floor tiles in bathroom</li>
	<li>Finishes selected by Interior Designer Mary Durack</li>
	<li>Moments to The Gabba, Woolloongabba dining precinct, Brisbane CBD and Valley</li>
	<li>Roof top entertainment deck with incredible full city views</li>
	<li>Close to Ferry and bus connections as well as the new Woolloongabba Cross River Rail station</li>
	<li>Excellent walking and bicycle paths connect South Bank and the City Botanic Gardens at Kangaroo Point</li>
	<li>Gabba stadium nearby</li>
	<li>A stone's throw to award-winning restaurants, cafés, bars and retail boutiques</li>
</ul>
<img alt="" src="https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/m-apartments-699-main-street-kangaroo-point-d4c3198b87841a7f378caa13b7114684.jpg" style="width: 791px; height: 420px;"> 
M Apartments are slated for completion by December this year, so be in quick if you want to secure a brand new home by the new year! Enquire about available apartments today via Urban. 
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urban.com.au

Stunning, spacious apartments at Kangaroo Point from $410,000

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<figure><figcaption> </figcaption></figure>Following on from the successful sell out of stages 1 and 2, here is your opportunity to own in the stunning Stage 3 new release of Emerald Park, a new collection of 36 three-bedroom contemporary townhomes in the heart of the established Bridgeman Downs community, 15 minutes north of Brisbane CBD.

<figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/emerald-park-townhouses-emerald-place-bridgeman-downs-5fccacd377d8e4db1765d5fe8edda613.jpg" rel="gallery-all"><img alt="" class="image-article-full-width-580px" height="435" src="/s3/files/styles/article_full_width_580px/public/pictures/article-images/emerald-park-townhouses-emerald-place-bridgeman-downs-5fccacd377d8e4db1765d5fe8edda613.jpg?itok=BlmWAkrC" width="580"></a>

<figcaption> </figcaption></figure> 
Each three-bedroom, two level townhomes offers spacious, quality living space tailored to the needs of the modern family. Extensive landscaped courtyards allow for perfect indoor outdoor living. Superb finishes including ducted air-conditioning, stone benchtops and kitchen appliances.

In a peaceful residential neighbourhood, Emerald Park presents a collection of sophisticated three bedroom townhomes. Sitting in perfect symmetry with the landscape, Emerald Park residences are cloaked in warm, muted tones and showcase modern and functional layouts.

<figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/emerald-park-townhouses-emerald-place-bridgeman-downs-3598fc27ec7a3eaba908f43d6e08d7c2.jpg" rel="gallery-all"><img alt="" class="image-article-full-width-580px" height="435" src="/s3/files/styles/article_full_width_580px/public/pictures/article-images/emerald-park-townhouses-emerald-place-bridgeman-downs-3598fc27ec7a3eaba908f43d6e08d7c2.jpg?itok=_iyL-1G7" width="580"></a>

<figcaption> </figcaption></figure>Morning sun engulfs open courtyards as they look towards bushland reserves, parklands, and sporting fields. 
 
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The established community of Bridgeman Downs welcomes Emerald Park Townhouses

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For many years, the Brisbane commercial market has largely gone under the radar in comparison to its southern counterparts…until now and according to the latest office report from property valuation firm HTW is now on the cusp of a major transformation.
The Herron Todd White report notes however, it will be a five-year project on the pathway to transformation into a world class city, with this fact being increasingly recognised in the commercial markets where there are increasing levels of interest in high quality commercial properties within Brisbane from Australian and international investors.
This has been evidenced by yield compression and strong capital growth over the past three years.
Yields which were solidly in the 6.75% to 7.25% range previously are now pressing downward into the 5.5% to 6.5% range, whilst capital growth of up to 30% has been recorded against some prime quality properties.
Against this backdrop however, the market is still plagued by persistently high vacancy rates, particularly in the B grade category and below.
This is holding back real rent growth and significant change in rents is not likely until Prime and A grade vacancies push lower into the single digits.
Recent leasing statistics released by Property Council of Australia have indicated that total vacancies in the CBD have contracted to a five year low of 13% as at January 2019.
The property valuers said, "Prime and A grade vacancies however are now at 10.4% and 9.9% respectively, and heading down."
"Gross face rents have stabilised with some assets seeing effective rents increase as incentives very slowly start to wind back, however vacancy rates remain high for secondary stock and face rents will continue to be flat as vendors compete to secure tenants."
"It is likely we will see a further widening in rentals between Prime or A grade and secondary accommodation," they added.
The fringe CBD leasing market is now largely dominated by the prime office precincts of Fortitude Valley (RNA, King Street precinct and Ann Street), Newstead (in and around Gas Works) and South Brisbane, according to the report.
Vacancy rates for fringe markets overall remain high at circa 14.8% but the better regarded precincts of South Brisbane and the Urban Renewal area are doing better at 10% and 14.2% respectively.
The report stated, "On the whole, fringe markets have been impacted by high vacancies in the CBD, but the Urban Renewal area is likely to continue to dominate the larger leasing and sale transactions."
"On the rental side, gross face rents appear to be increasing for premium buildings with some new leases reported at above $650 per square metre gross face. Incentives are also stabilising for prime assets."
"Conversely, secondary fringe CBD leasing markets are still oversupplied as tenants seek newer accommodation that is within close proximity of transportation and good retail amenities."
"Milton and Spring Hill commercial precincts continue to remain out of favour with tenants as vacancy rates continue to be the highest recorded for the fringe (21.5% and 17% respectively). These vacancies may present opportunities for re-purposing of some buildings in these areas," they noted.
There have been a significant number of quality commercial office listings in the first half of this year across the CBD, fringe CBD and inner-city areas.
Whilst many transactions are yet to transpire, there is reportedly strong interest being generated for well leased investment assets on both a local and interstate level.
"We believe some of these assets will likely achieve strong sale prices, as interstate investors priced out of Sydney and Melbourne see exceptional value in Brisbane (broadly speaking, there is a 150 to 250 basis point differential between Sydney or Melbourne versus Brisbane)," the valuers concluded.
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j.ballantyne1990-6AQqhLzZaK

Brisbane CBD on the cusp of office transformation: HTW Commercial

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Cbus Property has secured a second commercial office project in Brisbane’s CBD in a deal with local developer, Nielson Properties, to develop its 205 North Quay and adjacent 30 Herschel Street properties.
The partners will combine the two properties to create a 3,000 square metre riverfront corner site, with plans to develop it into a circa $600 million A-grade commercial building.
Savills agents Anthony Ott and John McDonald negotiated the transaction.
The new development, to be known as 205 North Quay, presents a landmark opportunity for Cbus Property to bookend its successful 1 William Street, Brisbane commercial project, tenanted by Queensland Government and recently awarded Property Council of Australia’s 2019 Queensland Development of the Year.
205 North Quay will add 50,000 square metres of net lettable area to the Brisbane CBD office market and responds directly to the emergence of the North Quarter precinct which has received record infrastructure investment.
“205 North Quay is a major riverfront CBD site, ideally located to capitalise on the major infrastructure projects nearby such as the recently announced Roma Street Station, Brisbane Metro, Cross River Rail and Brisbane Live,” said Adrian Pozzo, CEO of Cbus Property.
“The economic outlook for Brisbane is strong, with positive employment growth forecast to continue and Queensland’s economic growth also anticipated to continue to outperform the Australian average.
“We will look to build on these strong economic foundations and our past success with 1 William Street, to deliver a premium and future-focused commercial tower for Brisbane’s CBD in collaboration with our partner, Nielson Properties.”
Located in Brisbane’s prime commercial district, the 205 North Quay development will play a significant role in the continued regeneration of the burgeoning North Quarter precinct, which will now also include Mirvac’s 80 Ann Street tower to be tenanted by Suncorp, Shayher Group’s 300 George Street project and the recently completed W Hotel on George Street.
“We are proud to partner with Cbus Property on this landmark riverfront commercial project,” says Ross Nielson, Founder and Managing Director of Nielson Properties.
“As a local Brisbane developer, we’re excited to be a part of the evolution of the North Quarter as it becomes a vibrant hub bolstered by outstanding connectivity to Brisbane’s CBD and premium infrastructure and amenity.”
The tower is expected to be complete by 2023.
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Cbus Property locks in $600 million North Quay, Brisbane office project

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Savills Research noted a turn-around during the first quarter of 2019 with the Brisbane CBD moving into an upswing cycle with increased leasing activity and stronger investor support. 
Savills’ Quarter Times Report has recorded a steady start to the year with the Brisbane occupier market recording net effective rental growth of circa 2% emerging across varying grade quality of buildings. The report also highlighted yield contraction over the 12 months to March 2019 of circa 25bps across A and B Grade assets.  
Anthony Ott, Savills managing director,  said that the research reflects a strong start for the year. 
“Investment activity across the first quarter was in excess of $1 billion worth of CBD office assets transacted or formally being offered for sale with at least another $1billion worth of assets earmarked for sale during Q2.  
“This follows on from a strong 2018, where sale volumes in the Brisbane CBD totalled circa $2.3 billion,” Mr Ott said. 
According to Savills Research asset values of properties formally marketed in the first quarter of the year were up approximately 50% on the corresponding period in 2018.  
“There is positive investment sentiment given the level of activity not only in the CBD but also the fringe and suburban markets and this is continuing to flow through in the second quarter with a number of owners positioning to divest.” Mr Ott said.  
Comparative value of Brisbane assets relative to Sydney has been a key factor in driving increased investor demand. 
“There is a capital value spread between Brisbane and Sydney of approximately $10,000 per square metre and a yield spread of approximately 115bps, so the metrics are pretty compelling,” Mr Ott said. 
Mr Ott said that new projects and infrastructure activity such as Cross River Rail, Brisbane Metro, Queens Wharf, the second runaway at Brisbane Airport, and the Howard Smith Wharves development will all have a positive influence on investors perspective over the next 5 -10 years. 
“These major projects are giving investors’ confidence that Brisbane is entering a new growth phase,” he said.
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Savills sees Brisbane's office market continue upswing following strong 2018

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A Brisbane CBD basement has become the new home for a First Nations owned and operated art gallery.
The Henderson Gallery have taken up occupancy in the basement of 300 Adelaide Street, leasing the 489 sqm space through Savills.
The lease was negotiated by Executive of Savills Commercial Leasing, Daniel Paxton, on a five year term plus options.
“The space is traditionally a tricky tenancy to lease, however the refurbishment by LSH Property enabled us to gain traction and led to three serious parties interested in the space,” Mr Paxton said.
The Henderson Gallery is owned by Robert Henderson, Wiradjuri, focusing on First Nations art experiences for domestic and international visitors.  
The Henderson Gallery offers "exhibitions, First Nations influenced menus in Birrang Café, wine bar, live performances and more."
Mr Paxton said the Gallery have also leased a 159 sqm suite within the building to house their not-for-profit foundation, The Wayne Weaver Foundation.  
The Henderson Gallery opened in their new location on February 23 2019.
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Savills secure CBD basement lease for Indigenous Australian art gallery

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A Brisbane City apartment has been listed with a reduction of $100,000 on its previous sale price.
It traded for $454,000 on construction in 2014. 
Tracie Harrington of Harringtons holds the listing, which has an asking price of $360,000.
Situated at <a href="https://www.realestate.com.au/property-apartment-qld-brisbane+city-130284246" target="_blank">3006/43 Herschel Street</a>, inside the Meriton Infinity building, the unit has views of the CBD, parklands, Southbank and Brisbane River.
Set on 59 sqm, the 30th floor residence comes unfurnished.
The listing notes the home could be rented at $390 to $420 pw.
Residents in the Meriton Infinity building have access to a lap pool, heated spa and an on-site caretaker.
The home was unable to sell at a February 9 auction.
<a href="https://www.propertyobserver.com.au/subscribe" target="_blank"><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/2019/1/Subscriber%20strip%20ad.jpg" alt=""></a>
According to CoreLogic, the annual change in median price in <a href="/developments/brisbane-city-qld-4000">Brisbane City </a>over the past 10 years is 0.6%.
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Brisbane City unit listed at $100,000 reduction on sale price

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Rockworth Capital Partners have purchased a freehold office building, 100 Edward Street, set within Brisbane’s Golden Triangle financial precinct.
It was acquired from an investment partnership managed by Evolution Private (“Evolution”), in an off-market transaction valued in excess of $60 million.
The acquisition of 100 Edward marks RCP’s first entry into the Brisbane CBD office market, and builds on the Group’s existing Queensland retail presence including Town Square Redbank, Everton Park and Rothwell shopping centres.
Following this acquisition, RCP’s portfolio now comprises office assets in Australia’s four largest commercial real estate markets, Sydney, Melbourne, Perth and Brisbane.
Strategically located at the junction of Edward and Mary Streets, the property is situated on a sizeable corner site of circa 1,400sqm.
Comprising approximately 7,120 sqm of office space, the 17-storey tower has 109 car park spaces and prominent ground floor retail tenancies. 
Rob Carter and Mark Russo, Principals of Evolution stated that “100 Edward Street has been a leasing success with 25 tenants currently occupying around 95% of the building"
It was recently refurbished and has undergone lift interior and building services upgrades.
Located withing walking distance of over A$10bn of planned redevelopment and infrastructure spending, the property sits at the crossroads of the premium ‘Golden Triangle’, upcoming Queen’s Wharf and Eagle Street Pier redevelopments. 
Lim Kin Song, Chief Executive Officer of the Group stated, “the acquisition is a timely opportunity to participate in a fast-evolving gateway city in Australia, with a strategically located asset at the centre of major rejuvenation and infrastructure projects."
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“RCP continues to look for investment opportunities of a similar value-add nature or counter-cyclical propositions, to provide compelling risk adjusted returns for its investor base.”
“As a mid-to-long term investor, RCP maintains a positive outlook for both the Brisbane and broader Queensland markets, particularly given the pipeline of committed infrastructure projects."
RCP 's national portfolio for Australia contains 14 office and retail assets.
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