Repeat buyers are one of the strongest measures of confidence in any apartment development.

At <a href="https://www.apartments.com.au/new-apartments/era-newcastle-west-124-126-bull-street-newcastle-west-nsw-2302">ERA</a> in Newcastle West, some purchasers are returning to <a href="https://www.apartments.com.au/developers/gwh">GWH</a> after living at the developer's One Apartments. Their decision to purchase again was driven by the quality of life they found after moving into their first GWH home.

Keith Wilton had spent years living in a house in East Maitland before deciding it was time for a change. Apartment living had always been on his radar, but he was selective about what he wanted.

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"I had some boxes I wanted to tick," he says.

Keith points to the open-plan design, generous outdoor areas and considered inclusions as key reasons One Apartments worked for him.

“One of those things was a nice indoor open plan area, but also I wanted a nice outdoor open area that I could entertain on in summer or Christmases or birthdays,” he says.

He also found value in the smaller details, from integrated appliances to shared resident spaces including the pool, cinema and rooftop areas.

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After comparing several developments, he chose One Apartments because of GWH's longstanding local reputation and his own experience working with the developer on a commercial project more than a decade earlier.

"I knew that they were local, that the quality of the build was going to be up there. I'd looked at other apartment complexes around and close by, and I just knew that here was a better decision location wise."

Today, Keith says the move has completely changed how he experiences Newcastle.

"I enjoy living in this location because it's more of a lifestyle change. That Newcastle city living where you can walk to restaurants and bars and even beaches and parks and even shopping across the road."

[smartcode_project:default project_id=135096 project_image_fid=356828]

Beyond the location, he says it's the sense of community that has surprised him most.

"Everyone loves living here because they chose to live here, but everyone looks out for each other. It's a real great community feel here."

For Aimee and Lyle Goodman, the journey started almost by chance.

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The couple happened to be having coffee in Newcastle when they noticed the site where One Apartments was about to begin construction.

"We were aware GWH was planning a development," Aimee says. "We made one phone call and things moved pretty quickly after that."

As busy business owners, they initially thought apartment living would simply reduce the maintenance that came with larger homes. Instead, it fundamentally changed how they spent time together.

"We actually catch up more as a family now," Aimee says.

"We've had homes with big yards and lots of space, but everyone ended up in different rooms. Here we'll have dinner together, the kids can play, and we spend far more quality time together."

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Lyle says their confidence came from GWH's reputation within Newcastle's building industry.

"I know people who've worked across different apartment projects, and whenever GWH came up the feedback was always the same. They're rock solid. They're quality."

That confidence only grew throughout the buying process.

"One of the things that really impressed us with GWH was the whole process, was the communication," Lyle says. "It was consistent, it was regular, there was no problem if we had some weird questions, there was no problems in getting answers."

[smartcode_project:default project_id=135096 project_image_fid=351104]

Aimee says one moment stood out.

"The project actually finished on time. We realised we needed to hurry up and sell our house because everything was happening exactly when they said it would."

The positive experience at One Apartments ultimately gave all three buyers the confidence to purchase again with GWH, this time at ERA.

Their confidence reflects what many buyers are seeking in today's apartment market. Location remains important, but so too does certainty around delivery, quality and long-term liveability.

[smartcode_project:default project_id=135096 project_image_fid=356822]

ERA builds on those foundations with 280 one, two and three-bedroom apartments across two landmark towers in <a href="https://www.apartments.com.au/developments/newcastle-west-nsw-2302">Newcastle West</a>.&nbsp;

Designed by <a href="https://www.apartments.com.au/architects/fk-australia">Fender Katsalidis</a>, the project will include more than 2,000 square metres of resident amenities, including a resort-style pool, gym, sauna, private cinema and rooftop entertaining spaces overlooking the harbour and coastline.&nbsp;

The development is also within walking distance of the Newcastle Interchange, Honeysuckle, Darby Street, the harbour foreshore, restaurants, retail and the city’s beaches, continuing the walkable lifestyle that existing GWH buyers say has transformed how they live.

[smartcode_project:default project_id=135096 project_image_fid=356826]

For Keith, the appeal remains straightforward.

"You feel at home even before you've moved into your home."

For Aimee, the change is measured in time.

“I just felt like I had more time,” she says.

[smartcode_project:default project_id=135096 project_image_fid=351102]

Construction at ERA is now underway, with more than half of the residences already sold and limited two and three-bedroom apartments remaining in the East Tower release. Priced from $980,000 for two-bedroom residences and $1.46 million for three-bedroom residences, buyers can secure an apartment with a 10 per cent deposit, with premium homes offering ocean views from Level 8 and harbour views from Level 10.

ERA is also backed by Resilience Insurance's 10-year Latent Defects Insurance policy, providing protection against structural or waterproofing defects for 10 years after completion. The project is anticipated to be completed in early 2028.

[smartcode_project_cta:default project_id=135096]

Joel Robinson

From ONE to ERA: Why buyers are choosing GWH again in Newcastle West

Virgate Property Group is preparing to commence construction of Verdé, its new apartment development in Melbourne's Arts Precinct at Southbank, following a strong run of sales that has seen more than half of the project's 173 apartments secured.

Verdé has attracted a broad mix of first home buyers, owner-occupiers upgrading from nearby inner-city suburbs and investors, with younger owner-occupier couples aged between 28 and 45 accounting for the strongest enquiry. Many are already living in Southbank, South Melbourne, Albert Park, Port Melbourne, South Yarra and the CBD.

"Verdé is located in one of the most desirable pockets of southern Melbourne," Blair Property Group Director Darren Blair, who is managing sales at Verdé, said.

"It's within walking distance of the Arts Centre, Royal Botanic Gardens, Albert Park Lake, and Southbank's restaurants and retail. It's a great lifestyle location with strong amenity and liveability, which made it a very attractive choice for the project."

[smartcode_project:default project_id=4661 project_image_fid=372549]

Virgate was already familiar with the precinct, having previously delivered the successful Domain House development in neighbouring South Melbourne. That experience gave the developer confidence to acquire the Coventry Street site and continue expanding its presence in Melbourne's inner south.

"We had been keeping an eye on the site and the broader precinct for a few months before deciding to move forward with the acquisition," Virgate said.

The project was ultimately secured in 2020 following feasibility studies, planning assessments and due diligence, with the brief centred on delivering "a high-quality, considered design that feels both refined and fit for purpose."

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Designed by <a href="https://www.apartments.com.au/architects/bruce-henderson-architects">Bruce Henderson Architects</a>, Verdé comprises 173 one, two and three-bedroom apartments priced from $599,000. The architecture is distinguished by a faceted glass façade that responds to both the site's outlook and Melbourne's changing light conditions.

According to Bruce Henderson Architects, the coloured glazing gives the building a distinctive identity while also providing privacy and solar shading, with residences oriented to capture views across the bay, city skyline and surrounding parklands.

Inside, <a href="https://www.apartments.com.au/interior-designers/designoffice">DesignOffice</a> has created interiors focused on natural light, efficient planning and enduring materials. Apartments feature engineered oak flooring, natural stone benchtops, floor-to-ceiling glazing and SMEG appliances, while a restrained material palette aims to complement the expansive outlooks rather than compete with them.

[smartcode_project:default project_id=4661 project_image_fid=372550]

Resident amenity has also been designed around everyday functionality rather than occasional use. Facilities include a concierge-serviced lobby, residents' lounge with fireplace, library and co-working space, gym, terrace garden with barbecue facilities, ground-floor café, and package delivery management.

The project's location continues to be one of its strongest drawcards. Positioned on Coventry Street, Verdé sits within walking distance of the National Gallery of Victoria, Arts Centre Melbourne, Royal Botanic Gardens and Albert Park Lake, while Southbank's dining precinct, Sturt Street trams and the new ANZAC Station are all nearby. The surrounding education catchment also includes Melbourne Grammar, Melbourne Girls Grammar, Mac.Robertson Girls' High School and several major university campuses.

The sales team says buyers have responded particularly well to the combination of location, design quality and long-term liveability.

"They're responding really positively to the quality of the design, premium resident amenities and the uninterrupted views. Many also appreciate the location and how connected it is to everything they need."

The ability to secure stamp duty savings before completion has also been a key factor for purchasers, alongside the opportunity to personalise finishes ahead of settlement.

With construction set to commence soon and more than half the apartments already sold, Verdé enters its next phase as one of the Arts Precinct's more established apartment developments, offering remaining buyers an opportunity to secure a residence before construction advances further. Expected completion is scheduled for late 2027.

[smartcode_project_cta:default project_id=4661]

Virgate's Verdé Southbank moves toward construction as sales fly past halfway stage

Downsizer-focused apartment development Kooyongkoot in Hawthorn has been recognised at the 2026 Better Future Melbourne Design Awards, taking home Gold and Silver awards in two categories.

<a href="https://www.apartments.com.au/new-apartments/kooyongkoot-hawthorn-1-kooyongkoot-road-hawthorn-vic-3122">Kooyongkoot</a>, currently being delivered by developer PQD and designed by Cera Stribley, received Gold in the Interior Design – Proposed category and Silver in the Architecture – Proposed category.

The dual recognition reflects the design approach behind the boutique development on prestigious Kooyongkoot Road, where the focus has been on creating homes for downsizers seeking the space, quality and functionality of a detached house within a low-rise apartment building.

Rather than maximising apartment numbers, <a href="https://www.apartments.com.au/developers/pqd">PQD</a> and <a href="https://www.apartments.com.au/architects/cera-stribley-architects">Cera Stribley</a> limited the development to just 18 residences, allowing for larger floorplans, greater privacy, generous landscaping and expansive communal spaces.&nbsp;The majority of the apartments also benefit from corner aspects, allowing for dual sources of natural light.

Now around 70 per cent complete and on track for completion in November 2026, Kooyongkoot will comprise a mix of garden residences, ter​race apartments, sub-penthouses, and is crowned by two half-floor penthouses with direct lift access and private rooftop terraces.

[smartcode_project:default project_id=102717 project_image_fid=355297]

The Silver Award for Architecture recognised the way the building responds to its prominent corner position at the ent​rance to Hawthorn's Scotch Hill precinct, one of Melbourne's most established residential neighbourhoods.

Rather than competing with the grand homes that line Kooyongkoot Road, the architectural approach focused on restraint and longevity, using curved brickwork, generous landscaping and carefully considered proportions to integrate with the existing streetscape.

"The form feels fluid and timeless, as though shaped by the landscape itself – architecture that belongs, rather than competes," said Chris Stribley, Co-Founder and Managing Principal of Cera Stribley.

The judging submission also highlighted practical innovations throughout the building, including lift cores servicing only nine homes each, a central landscaped lightcourt designed to bring daylight and ventilation into the building, and fully enclosed private storage rooms with lighting, power and shelving to better accommodate residents transitioning from larger family homes.

[smartcode_project:default project_id=102717 project_image_fid=355293]

The Gold Award for Interior Design recognised the project's focus on long-term liveability rather than display-home aesthetics.

According to the awards submission, the interiors were designed from the inside out, prioritising how homes would function over decades of daily use through generous proportions, practical storage, durable natural materials and flexible layouts.

The specification includes natural stone throughout, upgraded acoustic glazing, V-ZUG appliances and fully enclosed storage rooms, alongside an amenity offering focused on wellness, entertainment and everyday convenience.&nbsp;

Residents will have access to a gym and yoga studio, a wellness centre featuring traditional and infrared saunas, a cold therapy shower and treatment room, as well as a residents' lounge and golf simulator/cinema room for entertainment.&nbsp;Kooyongkoot has also considered the everyday convenience of its residents by offering a private carwash and pet wash facilities on site as well as dedicated parcel lockers and oversized fully enclosed storage rooms.&nbsp;

[smartcode_project:default project_id=102717 project_image_fid=355303]

The project's attention to detail has already resonated with buyers. Earlier this year, Kooyongkoot recorded one of Boroondara's highest apartment sales when an $8 million penthouse was purchased by a Melbourne CEO downsizing from a nearby family home.

"Every detail feels deliberate, from the overall design down to the smallest touches," the purchaser said.

"The level of quality and refinement is exceptional, but what really sold it was how liveable it felt... It felt like a place where everything had been considered, not just a luxury building."

[smartcode_project:default project_id=102717 project_image_fid=355304]

Sustainability also formed a key part of both award submissions. Kooyongkoot is targeting a minimum 7.5-star NatHERS rating across all residences, supported by passive design principles, high-performance glazing, EV charging infrastructure, water reuse systems and a wellness model focused on lower-energy dry facilities rather than pools and large wet areas.

Located within walking distance of Scotch College, Methodist Ladies' College, Koo​yong Lawn Tennis Club, Aubur​n Village and Camberwell Junction, Kooyongkoot continues to target owner-occupiers looking to remain in Melbourne's inner east without compromising on space or quality. A limited selection of two, three and four-bedroom residences remains available, with prices starting from $1.9 million.

[smartcode_project_cta:default project_id=102717]

Kooyongkoot wins Gold and Silver at Better Future Melbourne Design Awards

New apartment supply has become increasingly constrained across <a href="https://www.apartments.com.au/developments/parramatta-nsw-2150">Parramatta</a> in recent years, with fewer projects progressing through to completion as development conditions have become more challenging.

It makes <a href="https://www.apartments.com.au/developers/novm">NOVM</a>'s 2021-completed <a href="https://www.apartments.com.au/buildings/the-lennox-parramatta-12-phillip-street-parramatta-nsw-2150">The Lennox</a> one of the most recently completed residential towers on the Parramatta River, and among the newest apartment developments in Sydney's second CBD.

With the project largely completed before the sharp escalation in construction costs and inflation following the pandemic, The Lennox is now offering pricing that would be difficult to replicate in a comparable new development in Parramatta today, or across much of Western Sydney.

The majority of the 413 apartments at The Lennox sold before and shortly after completion. A limited release of the remaining apartments has recently been brought to market by capital partner <a href="https://www.apartments.com.au/project-marketer/equitifund-group">Equitifund</a>, with entry-level pricing from $700,000 and two-bedroom apartments available from under $1 million.

Rising above the Parramatta River at 12 Phillip Street, The Lennox comprises one, two, three and four-bedroom apartments, appealing to first home buyers, young professionals, families, downsizers and interstate investors seeking a completed apartment in one of Australia's fastest-growing economic centres.

[smartcode_project:default project_id=5743 project_image_fid=372394]

Rather than positioning Parramatta as an alternative to Sydney's CBD, Equitifund believes the city has reached a point where it stands on its own merits.

"Parramatta is no longer simply an alternative to Sydney CBD, it's becoming a destination in its own right," Equitifund Executive Chairman Greg Huxley said.

"The Lennox captures that evolution with a level of quality and amenity that's difficult to match at its price point."

[smartcode_project:default project_id=5743 project_image_fid=953]

Designed by <a href="https://www.apartments.com.au/architects/marchese-partners">Marchese Partners</a>, the tower responds directly to its riverfront setting through expansive glazing and open-plan layouts that maximise views across the Parramatta River and city skyline. Interiors feature engineered timber flooring, stone benchtops, stainless steel appliances and floor-to-ceiling glazing, while generous balconies extend the living spaces outdoors.

Marchese Partners says the project was conceived to balance high-quality apartment living with practical, long-term functionality, pairing larger, efficient floorplans with amenities more commonly associated with five-star hotels.

That emphasis continues through the resident facilities, which include a 20-metre rooftop swimming pool, fully equipped gym and wellness spaces, full-time concierge, a residents' lounge, function room, private lifts, secure basement parking and rooftop communal areas overlooking the Parramatta River. Ground-floor boardwalk retail and dining further activate the riverfront and integrate the building into the surrounding public realm.

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Australian housing and finance group Equitifund has secured the remaining apartments, believing there are few completed apartment opportunities in Parramatta that offer the same combination of location, amenity and pricing.

Equitifund National Sales Director Ben Hamblett says buyers are increasingly recognising that premium apartment living no longer needs to come with Sydney CBD pricing.

"The Lennox is where aspirational living becomes attainable," Hamblett said.

"Wake to river and mountain views, step into Sydney's Second CBD, and arrive home to resort-calibre amenities, all without the harbour price tag."

Hamblett says owner-occupiers are also attracted by the convenience of having Westfield Parramatta, Church Street's dining precinct, Parramatta Park, Riverside Theatres, Western Sydney University and major transport connections all within walking distance.

"At The Lennox, lifestyle is not an afterthought, it is the foundation."

[smartcode_project:default project_id=5743 project_image_fid=5374]

The Lennox places residents within walking distance of Parramatta Square, Westfield Parramatta, Church Street Eat Street, Parramatta Station, the ferry wharf, Light Rail, the future Sydney Metro West, Parramatta Park and CommBank Stadium, reinforcing Parramatta's position as one of Australia's most connected metropolitan centres outside Sydney's CBD.

Equitifund says buyers visiting the display suite consistently comment on the quality of the finishes, generous floorplans, river and skyline views, and the walkability of the location. The project has attracted a broad mix of local professionals, upsizers, downsizers, buyers relocating from Sydney's inner suburbs and interstate investors seeking long-term growth opportunities.

That demand aligns with Parramatta's continued evolution as an economic powerhouse. Equitifund Research and Market Insights specialist John Bekiaris says sustained population growth, infrastructure investment and expanding employment opportunities continue to support long-term housing demand across the city.

"Parramatta has evolved from a satellite city into one of Australia's most important economic centres. Population growth, infrastructure investment and employment are all supporting sustained long-term housing demand."

[smartcode_project_cta:default project_id=5743]

The apartment price gap drawing Sydney buyers west

A luxury beachfront apartment at Rainbow Bay has more than doubled in value since it sold off the plan six years ago, setting a new local apartment record in the process.

The three-bedroom apartment in the Flow development on Petrie Street, the first of four new projects locally by Paul Gedoun's S&amp;S Projects, has sold for $7.4 million, after originally selling for $3.27 million when the project launched in 2020.

The seventh-floor apartment, comprising 187 sqm of internal living space and a 54 sqm balcony overlooking Froggies Beach and Snapper Rocks, was purchased by a local family.

The transaction was negotiated by Pezet Matheson director Kerry Pezet and equates to more than $30,000 per sqm.

Pezet said the sale reflected the limited opportunities to buy into the boutique beachfront development.

"The sale highlights the rarity of opportunities within the boutique beachfront development, where residences seldom become available," Pezet said.

"Flow is one of the Gold Coast's most tightly held buildings. Buyers from our database move quickly when residences become available, and achieving an off-market sale at $7.4 million demonstrates the depth of demand for property of this calibre."

<img alt="Flow" data-entity-type="file" data-entity-uuid="c585b206-2130-4eee-a50c-3f27c51a7c70" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-07-06%20at%208.33.25%E2%80%AFPM.png?VersionId=m3pHRDV62Y3fvN.XQuQHq.52ilTWpRLf" />

Flow was the first of four luxury apartment developments delivered by Paul Gedoun's S&amp;S Projects at Rainbow Bay and was completed in 2023.

Positioned on the beachfront overlooking Snapper Rocks, the residence includes three bedrooms, three bathrooms, a powder room and views stretching north along the coastline towards Surfers Paradise.

Pezet Matheson Residential principal Mitchell Lambert said buyers continued to prioritise quality beachfront apartments in tightly held locations.

"Flow Residences offers a rare combination of elevated beachfront positioning, architectural excellence, comprehensive resident amenity and premium finishes, which is exactly what discerning purchasers are seeking," Lambert said.

"The transaction further reinforces Rainbow Bay's reputation as one of Australia's premier coastal lifestyle destinations, where limited supply and growing demand continue to support strong market performance."

Pezet Matheson originally marketed and sold out Flow off the plan, making the latest transaction a return to one of the project's original buyers.

Paul Gedoun is selling his third project, <a href="https://www.apartments.com.au/new-apartments/radia-rainbow-bay-271-boundary-street-coolangatta-qld-4225">Radia Rainbow Bay</a>, after recently completing, and selling out, <a href="https://www.apartments.com.au/buildings/esprit-217-227-boundary-street-coolangatta-qld-4225">Esprit</a>. He has plans for a <a href="https://www.apartments.com.au/news/qld/first-look-s-s-projects-proposes-88-apartment-wellness-tower-at-coolangattas-boundary-street">fourth building</a>, 88 apartments on <a href="https://www.apartments.com.au/new-apartments/209-213-boundary-street-coolangatta-qld-4225">Boundary Street</a>.

Rainbow Bay apartment doubles in price since off the plan sale during pandemic

Colliers International

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The office vacancy rate in Melbourne's city fringe locations fell to 3.47 percent in March from 4.96 percent in September 2016, according to Colliers International’s Metro Office report.
“This is the lowest vacancy rate that Colliers International has ever recorded for the City Fringe market, and is the outcome of strong demand and very low levels of supply," said the report.
More than 23,000 sqm of office space was absorbed in the year to March 2017, about 9,000 sqm higher than the long-term annual average net absorption rate.
"While creative type tenants have always been attracted to the City Fringe market, tenant take up was seen across a variety of industry types, including National Home Doctor Service (Health), Grey Innovation (Technology), BSGM (Construction) and The Promotions Factory (marketing/manufacturing),” the report stated.
<a href="https://www.propertyobserver.com.au/images/2017/05/02/Screen%20Shot%202017-05-02%20at%2012.38.21%20pm.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/2017/05/02/Screen%20Shot%202017-05-02%20at%2012.38.21%20pm.jpg" alt="">
Colliers says that it’s not surprised that these strong demand levels and reduced options for tenants in the city fringe has given rise to good rental growth – both face and effective.
“Effective rents grew a record 22.7 percent in the year to March 2017. This effective rental growth is made up of a 13 percent rise in face rents, and a significant reduction in average A Grade incentives from 21 percent to 14 percent."
The secondary grade market is also benefiting from this strong demand with rents growing by 10 percent year on year, with incentives now averaging 18 percent.
Incentives in both the prime and secondary grade markets are low by Melbourne-wide standards (the CBD is averaging 29 percent), indicating the popularity of the city fringe market with tenants.
Owners of secondary grade stock have been taking advantage of the strong market conditions and, where space does come vacant, refurbishing their stock to attract the growing number of tenants who want non-conventional office space in the most sought after city fringe locations.
"The owners of Building 8, 658 Church St and 570 Church St in Richmond have recent leasing success stories following significant vacancy and subsequent refurbishment of their buildings,” the report said.
<a href="https://www.propertyobserver.com.au/images/2017/05/02/Screen%20Shot%202017-05-02%20at%2012.38.30%20pm.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/2017/05/02/Screen%20Shot%202017-05-02%20at%2012.38.30%20pm.jpg" alt="">
Both buildings were fully let post upgrade works, with incoming tenants paying significantly more rent than the outgoing tenants in order to secure the space.
It is expected that over the remainder of 2017 and into 2018, rents will continue to rise, Colliers says.
“Following the record rental growth over the year to March 2017, we expect that effective rental growth over the year to March 2018 will be 7.5 percent. While lower than the rate we have seen in this past year, this is still well above the long term average growth rate of 4.7 percent per annum.
"Developers, however, have been taking notice of the increase in demand, and the next supply cycle is well and truly underway."
There are currently 17 buildings in planning/mooted stage in the city fringe, a far cry from previous years where residential development dominated the landscape.
A total of 111,500 sqm is planned for construction to 2020, and a further 89,000 sqm in the ‘mooted’ stage.
The next year of supply will be relatively modest, with 10,500 sqm due to complete, said the report.
However, over 2018 and 2019, approximately 95,000 sqm of new supply will come on to the market, according to Colliers.
<a href="https://www.propertyobserver.com.au/images/2017/05/02/Screen%20Shot%202017-05-02%20at%2012.38.43%20pm.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/2017/05/02/Screen%20Shot%202017-05-02%20at%2012.38.43%20pm.jpg" alt="">
“It is anticipated that at this point in the cycle, incentives will begin to rise.
"Interestingly, the City Fringe market will also reach an important milestone over the next supply cycle– it will become a million square metre market.
There is currently just over 965,000 sqm of office stock in the City Fringe, and by the middle of 2019 we expect supply to tip over the 1,000,000 sqm mark."
The long-term average vacancy rate for the city fringe is 6.2 percent.
"We expect the vacancy rate to stay well under this level until March 2020, when large chunks of supply will tip the vacancy rate up to 7.7 percent,” the report stated.
Colliers says that the Melbourne CBD will also be in the midst of a supply cycle at this time, which will place further pressure on landlords to do competitive deals.
Strong demand in the city fringe hasn’t been confined to the leasing market. Of the $1.37 billion of deals in the Melbourne Metro market in 2016, 70 per cent - or $967 million worth of sales – were transacted on city fringe assets.
"Unsurprisingly, this level of activity had an impact on yields, and we saw 100 bps of compression over the year to March 2017."
A Grade yields now average six per cent in the city fringe.
"Current yield spreads of 327 bps are above the long-term average spread of 315bps, so we expect there is still room for yield compression in this cycle, particularly given the strong leasing conditions,” said the report. 
As an example, Property Observer found a 267 sqm penthouse-level office at <a href="https://www.realcommercial.com.au/property-offices-vic-melbourne-502375694">Level 11, 552 Lonsdale Street</a>, Melbourne (above) listed for sale.
Similarly, a 3153 sqm office at <a href="https://www.realcommercial.com.au/property-offices-vic-melbourne-502349974">114-128 Flinders Street</a>, Melbourne (below) has been listed for sale.
<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/2017/05/02/114-128%20Flinders%20Street.jpg" alt="">
A 79 sqm office at <a href="https://www.realcommercial.com.au/property-offices-vic-melbourne-501693013">Suite 4.04, 838 Collins Street</a>, Melbourne (below) was recently sold in April this year.
<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/2017/05/02/Suite%204.04%20838%20Collins%20Street.jpg" alt="">
Similarly a 291 sqm freehold office at <a href="https://www.realcommercial.com.au/property-offices-vic-melbourne-502333430">21-23 Anthony Street</a>, Melbourne (below) was recently sold in April this year.
<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/2017/05/02/21-23%20Anthony%20Street.jpg" alt="">
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j.ballantyne1990-6AQqhLzZaK

Melbourne city fringe office vacancy rate declines: Colliers

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Adelaide’s popular Publishers Hotel is up for grabs, generating interest from developers, hotel operators and investors in a market devoid of large-scale development opportunities.
On a 2,112 sq m dual corner site at <a href="https://www.commercialrealestate.com.au/property/108-112-franklin-street-adelaide-sa-5000-2013504127" target="_blank">108-112 Franklin Street</a>, the CBD pub comprises a boutique front bar, contemporary restaurant, modern kitchen, 600 sq m function room, offices and storage space.
Colliers International’s Alistair Mackie and Paul van Reesema are marketing the property until offers close May 11.
“This property represents an excellent opportunity to acquire a strategic mixed-use development site with adaptive improvements and hotel licences,” Mackie said.
“In the immediate term, options exist to acquire the freehold only or continue operating the hotel and, in the longer term, incorporate this valuable asset into a mixed-use high-rise development,” Van Reesema said.
“Further down the track, developers, hotel operators or speculators can develop the property to its full potential and reap the benefits of owning a large CBD site located only 350 metres from Adelaide Central Market.”
Mackie said the current improvements provided a gross building area of about 3,650sqm.
<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/2017/04/18/Publishers%20Hotel%202.jpg" alt="">
“The elongated shape of the site provides developers the ability to stage high-rise developments up to 17 levels,” he said.
The site is in a rapidly evolving growth precinct of the city, which has undergone significant gentrification during the past five years, including the completion of Quest on Franklin’s serviced apartments, PWC headquarters and Vision On Morphett high-rise apartments.
“It is anticipated that increased population within the area will complement and enhance the range of opportunities and experiences provided in Adelaide, thereby boosting its lifestyle and tourism potential,” Mackie said.
On offer is the freehold site and improvements, together with the hotel leasehold.
Buyers may elect to acquire both or can choose to exclude the hotel leasehold.
The option exists for the vendor to leaseback the hotel for a short period to assist the purchaser during the transitioning phase.
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Adelaide Publishers Hotel property listed for sale

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Total market vacancy in Parramatta is forecast to decline over the short term as pre-commitments absorb any new stock, according to Colliers International’s latest Metro Office report.
“Stage 1 Parramatta Square, which came online at the end of last year, was fully pre- committed by Western Sydney University.
Taking into consideration the development pipeline, 105 Phillip Street (delivery circa 2018, approx. 25,000sqm) is fully committed to the Department of Education and Stage 4 Parramatta Square (delivery circa 2019, approx. 62,000sqm) is fully committed to Property NSW.
These tenants will relocate from Darlinghurst and Sydney CBD which will likely contribute to above average positive net absorption for the period.
Looking further ahead, NAB has fully committed to 42,000sqm at Stage 3 Parramatta Square (delivery circa 2020),” the report stated.
2020 and 2021 should see Parramatta vacancy rising Colliers says.
“Notable vacant space is likely to be available in 2020 and 2021 with Parramatta City Council (126 Church Street), the Office of State Revenue (87 Marsden Street), and the Department of Planning and Environment (10 Valentine) intending to vacate 5,800sqm, 4,000sqm and 5,000sqm respectively.
Additionally, The Commonwealth Bank of Australia will vacate 101 George Street and 150 George Street in 2022 relocating to the Australian Technology Park (ATP) in Redfern, creating backfill space of approximately 40,000sqm.
As a result of the abovementioned movements, by early 2020 vacancy is forecast to fall to 3.3 per cent before increasing to 6.9 per cent by the end of 2021,” the report advised.
Colliers says that A Grade vacancy is likely to remain at full occupancy in the short term, with the secondary market, particularly B Grade, tightening at a faster rate.
“For the second consecutive period A Grade space remains at full occupancy, fuelling strong rental growth.
Over the last 12 months, net face rents have increased 5.8 per cent, with net effective rents increasing 10.4 per cent as incentives fell three percentage points to 15 per cent.
B Grade vacancy has fallen to 6.2 per cent, from 6.8 per cent, resulting in even stronger rental growth,” the report commented.
Net effective rents has increased over the past 12 months due to reduction in incentives Colliers says.
“Net effective rents increased 16.9 per cent over 12 months largely due to the significant 7 percentage point reduction in incentives, falling to 16 per cent.
With a strong pre-commitment market, we anticipate net effective rental growth to exceed historical averages for A and B Grade space of 3.6 per cent year on year and 2.5 per cent year on year respectively.
Over the next 12 months, net effective rents for A and B Grade are expected to grow by 10 per cent and 13 per cent respectively with the average annual growth rate over the next three years forecast at 6.7 per cent (A Grade) and 7.4 per cent (B Grade),” the report stated.
A 25,000 sqm office building at <a href="https://www.realcommercial.com.au/property-offices-nsw-parramatta-502320926">105 Phillip Street</a>, Parramatta (above) has been listed for sale.
A 1563 sqm office at <a href="https://www.realcommercial.com.au/property-offices-nsw-parramatta-501307275">87 Marsden Street</a>, Parramatta (below) was sold recently in April this year.
<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/2017/05/02/87%20Marsden%20Street.jpg" alt="">
Similarly a 2024 sqm office at <a href="https://www.realcommercial.com.au/property-offices-nsw-silverwater-502309706">36 Egerton Street</a>, Silverwater (below) was sold recently in April this year for $3.96 million.
<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/2017/05/02/36%20Egerton%20Street.jpg" alt="">
Small office space include a 120 sqm office at <a href="https://www.realcommercial.com.au/property-offices-nsw-granville-502328218?listingType=buy">9 &amp; 10/70-72 Railway Parade</a>, Granville (below) has been listed for between $1.2 million to $1.3 million.
<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/2017/05/02/9%20%201070-72%20Railway%20Parade.jpg" alt="">
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Market vacancy in Sydney's Parramatta expected to decline in the short term: Colliers

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$500,000 has been raised during the 2017 Charity Regatta to build a home for homeless youth, under the Foundation’s PIF House Program. Held at the Middle Harbour Yacht Club, the event was sponsored by Colliers International for the seventh year.
Property Industry Foundation national board member and Colliers International ANZ CEO, John Kenny, reflected on the fact every night across Australia there are over 44,000 young people who are homeless.
“Our support for the Foundation and the Regatta is a tangible way for Colliers International to make a real difference to the serious and persistent problem of youth homelessness,” he said.
In the lead up to the event, the Foundation in association with Colliers International, the Youth Sailing Academy and the Cruising Yacht Club of Australia created a two-day Youth Sailing Program.
Aiming to build the confidence of 12 disadvantaged young people and empower them to rebuild their lives, the young people are being assisted by four of the Foundation’s charity partners including Wesley Mission, CatholicCare, Marist180 and Weave Youth &amp; Community Services.
Property Industry Foundation CEO Rosemary Smithson said she was proud of the incredible support response from across the property industry.
“What this shows is that our donors in the property industry are committed to raising funds to rebuild the lives of at-risk and homeless young people,” she said.
Smithson thanked Colliers International as the Principal Sponsor for being such a strong advocate for the Foundation, the Regatta and the Youth Sailing Program.
“The support from Colliers International shows real leadership in corporate philanthropy. By doing that, they are encouraging other corporations to make a difference to the community,” she concluded. 
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Property industry commitment to young homeless people shines in charity regatta

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Falling vacancies and lower incentives are promising a windfall for landlords across the country, according to Colliers International’s latest CBD Office research and forecast report.
The report projects that positive net-effective rent conditions from net face growth will continue to drive tenant demand throughout 2017 on the back of suite strategies, such as that in Chifley Tower in Sydney, and pre-commitment to new developments, such as the new ANZ building in Docklands.
Despite office investment volumes being down in Sydney and Brisbane, and plateauing in Melbourne thoughout 2016, an increase is expected in 2017, as domestic and offshore building owners trade out of their profitable assets.
“The landlord’s market is in full swing in Sydney and Melbourne,” John Marasco, Colliers International’s chief executive for Victoria, said.
“Enquiry levels are still strong, with the majority coming from business services, health and community services, IT and finance, which is resulting in a more positive environment than what has been experienced in the past few years.
“With large players, both domestic and offshore, striving to achieve access and scale, we expect more capital partnering, like what was witnessed between Charter Hall and Morgan Stanley last year for 1 Shelley Street in Sydney, and possibly more merger-and-acquisition opportunities to emerge in 2017.”
Daniel Lees, Colliers International’s research director, said that with the reduction of office supply continuing in Sydney and Melbourne, significant increases in rent and reduction on incentives would be experienced.
“We predict the low supply pipeline will see vacancy rates well below long-term averages in Sydney and Melbourne, beginning to fall in Brisbane, Adelaide and Canberra, and stabilising in Perth,” he said.
Colliers International’s mangaging director for valuations, Dwight Hillier, said the report indicated that the total internal rate of returns would strengthen throughout 2017, prompted by strong effective rental growth in the Sydney and Melbourne CBD office markets.
“Yield compression is forecast for the Sydney metropolitan office market in particular, as purchasers are forced to hunt for initial yield and total return beyond the CBD,” he said.
Sydney’s vacancy is anticipated to trend lower to 3.7% in early 2020, before rising to 5.7% by mid-2022.
“Sydney will enjoy a brief period of respite from negative net supply during the next six months as refurbishments come online.
But negative net supply will quickly return for the subsequent 18 months,” Simon Hunt, Colliers International’s managing director for office leasing, said.
“It won’t be until the first half of 2019, when withdrawals subside and the first building of the next Sydney supply cycle – 60 Martin Place – is complete, that Sydney finally starts a period of positive net supply.”
Vacancy in the Melbourne CBD is declining and will continue to do so during the next few years, with the total vacancy forecast to hit 4.3% in July 2021, due to the lack of supply.
“Melbourne’s supply levels have been far less sporadic than Sydney’s and accompanied by stable absorption,” Hunt said.
“We expect that healthy levels of demand will be sustained throughout the next two years, resulting in vacancy falling to 4.2% by the end of 2018, before the next supply cycle kicks in in 2019.”
Brisbane’s prime vacancy is also expected to continue falling during the next two years as tenants upgrade office space, enticed by incentives and competitive effective rents.
Office vacancy is likely to have peaked in Adelaide, as the construction cycle comes to an end this year and there is limited new supply in the pipeline in the short- to medium-term.
Sales activity remains strong as investors stake their claims in new builds, contributing to a volume of more than $453 million for 2016.
“This cap on new development supply and limited existing additions will help reduce the overall national vacancy from record levels to more historic 10-year averages,” Hunt said.
A-grade vacancy is also declining in Canberra, spurring effective rents to rise on the back of dwindling supplies.
Vacancy in the Perth CBD is stabilising, with major supply likely to be limited to new developments during the next two years.
Smaller tenants are most active, joining the office sector’s “flight to quality” movement to secure the best affordable stock.
The report highlights the increasing demand for suites across the country, with premium landlords carving up whole floors to cater to smaller tenants’ needs and boost effective rent values.
“We anticipate that a lack of whole floor space availability will see 2017’s leasing activity weighted to suites,” Hunt said.
While most grades across the CBD are seeing an increase in face-effective rents, the real story is in the sub-500 square metre B-grade market in fitted-out options, the report said.
Landlords are taking advantage of this demand and building new fitouts in these smaller suites or refurbishing suites with existing fitouts.
"Flexible spaces and the activation of areas for work are rapidly rising and filling the needs of tenants looking for lease flexibility," opined Hunt.
"Even though small businesses and start-ups have favoured flexible space, we should start to see larger businesses taking up more space in 2017, as the preference for flexible lease structures permeates through the market.”
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2017 tipped to be the year of the office landlord

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A freehold building in Sydney's beachisde suburb of Clovelly has sold to a private investor and owner occupier for $2.92 million with a yield of 0.5 percent.
The property, 338-342 Clovelly Road, is opposite the Clovelly Hotel and has two retail shops, two residential apartments and a land area of 455.3 square metres.
The property sold before auction through Matt Pontey and Miron Solomons of Colliers International, with a record 150 enquiries in the first few weeks of the campaign commencing.
Matt Pontey said there have been limited opportunities in the Clovelly area over the last 12 months and interest was received from High Net Worth owner occupiers, private investors, syndicators, value-add specialists and ambitious developers.
<img src="/images/2016/12/01/338-342%20Clovelly%20Road%20Clovelly%20-%20marked%20LR.jpg" alt="">
 
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Clovelly beachside asset breaks local records before auction

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Industrial vacancy rates in Perth are starting to stabilise according to Colliers International, however it is still hard going for WA landlords.
The latest report from Colliers International into the Perth market found vacancy for assets over 2,000sqm increased to 9.1 per ent over the six months to September 2016, with a total of 831,333sqm available for lease.
Colliers said an increase in larger assets over 5,000sqm coming to market and remaining vacant for an extended period drove face rents lower during the 2015-16 financial year.
"The supply of smaller stock sub 2,000sqm has also increased and this is where most of the pain is being felt," the report said.
"Tenants are taking advantage of the soft conditions to secure rent reductions at lease expiries and market rent reviews, which has impacted investment returns.
"Despite softer rents, demand remains the underlying issue and assets are still difficult to lease.
"Typical industrial leases tend to range between three and seven years, with the most common being five years.
"Due to the timing of lease commencement and reviews, some tenants have been locked into boom-time rents, despite trading and economic conditions moderating for the past two years.
"This has, in some cases, severely impacted on the tenant’s bottom line over the past financial year."
The report noted reduced business turnover and the ability to absorb higher rental charges have been impacted by moderating economic activity and slower population growth.
"Perth’s residential construction sector is slowing alongside population growth," it said.
"The flow-on effects of this to the rest of the economy in terms of economic activity and employment are expected to further impact industrial space demand.
"The moderation in commercial and residential construction activity has had a significant impact on direct employment in the sector, with the latest statistics from the Australian Bureau of Statistics indicating 36,400 less employees in the construction sector for the year to September 2016.
"This has had a flow-on effect in ‘Transport and Storage’, ‘Manufacturing’ and ‘Property and Business Services’ employment with falls of 6,200, 1,400 and 700 employees respectively.
"We predict prime warehouse rents will bottom out in 2016, with the market then likely to remain stable for the short to medium term. Vacancy looks to be stabilising based on the early months of the 2016-17 financial year.
"With net face rents now 25 to 30 percent below peak, landlords can expect more stability in subsequent quarters.
"However, demand looks likely to be soft for a little while longer, with vacancy remaining steady. Hence landlords are likely to continue competing vigorously for tenants with plenty of space still on the market.
"It appears the worst of this investment boom downturn may have unfolded and we are now expecting a positive development in the form of less large vacant space coming to market.
"As economic stability establishes following the transition, prospects for a return to growth should improve.
"Despite lacklustre economic conditions, design and construct activity continues to occur, albeit at a lower volume. Although slower, WA’s population continues to grow, and businesses servicing the population base continue to experience demand.
"There is approximately 103,400sqm of space under construction, and scheduled for completion in the next 12 months in the Perth Metropolitan area.
"The most recent major projects include the 30,000sqm Bunnings warehouse and distribution facility in Maddington and a 10,000sqm Cleanaway facility in South Guildford.
"In addition to this a new 24,190sqm Swan Brewery distribution facility is planned for Canning Vale on land that had been subdivided from its former factory.
"The impacts of lower tenant demand are continuing to flow into industrial land demand, where we have seen a general fall in pricing over the past 12 months.
"Developable industrial land supply increased post GFC and this has also negatively impacted land value growth since.
"Looking ahead, we expect land values to stabilise around current levels for core precincts where land availability is limited. For fringe locations, some further moderation is possible, as demand remains weak in the short-term.
"Major transactions in the Greater Perth area declined over the financial year 2015-16. In the twelve months to the end of June 2016, 62 transactions over $3 million were settled for a total value of $712.4 million. This was down 26.2 percent from the 2014-15 financial year result of 84 transactions with a total value of $870.4 million.
"The historically low interest rate environment, combined with yield compression evident across other property sectors and investment classes, is in turn likely to result in increased tolerance of lower or firmer internal rates of return in the industrial market."
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Perth industrial property on the improve, still difficult to lease

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The Adelaide industrial markets have continued to see improvements in vacancy over the first half with vacancy falling to 4.8 percent, down from five percent six months ago, according to Colliers International’s latest report.
Leasing enquiry has also continued to improve with several large requirements in the market which are unlikely to be satisfied with current supply.
This is likely to lead to further design and construct activity in 2017 and into 2018.
One of the largest pre-commitments in the Adelaide industrial market for many years was secured and is under construction in Gillman for a 20,000sqm facility for a Multinational Corporate Client.
On the investment side, there has been limited activity in the market above $5 million price bracket with total sales volume of $50.1 million year to date which is about half of the 10 year average for sales.
Sales below $5 million has seen more activity with owner occupiers being the most active purchaser group in the market.
There has also been an improvement in enquiry to purchase industrial property which is likely to lead to higher sales volumes through the last quarter and into next year.
This has been driven by the low interest rate environment and the opportunity to purchase a facility through a superannuation vehicle or through the business.
This shift has impacted leasing activity with a number of leasing appointments transferring to sales campaigns.
The awarding of the submarines contract to DCNS earlier this year and the building of the o shore patrol vessels in the short term has seen Adelaide become the defence hub in Australia.
The total defence spend for the Federal government is over $90 billion, with a signi cant amount of construction of these projects to occur in Adelaide. This has ensured that there is a future for the defence sector in Adelaide for the next decade and beyond.
Although it is still early in the project, it is expected that there will be several requirements for the construction of new facilities for the submarines project.
The Federal government has invested in the Centre for Defence Capability in Adelaide which will drive innovation in the defence sector as well as open up international opportunities for the defence sector.
This centre is based in Adelaide with a 10 year $230 million federal commitment to grow the defence sector. This sector is likely to drive demand with the current facilities unlikely to meet the demand for this project and hence it is likely to result in construction of new facilities, mostly likely in the northern markets.
Vacancy in the Outer North market has recorded the lowest vacancy rate of all of the precincts with a vacancy rate of 2.8 per cent. This is a dramatic turn-around from 12 months ago where vacancy was recorded at 19.9 per cent.
The Outer North market has the highest exposure to the closure of the Holden plant expected late in 2017, and the high vacancy recorded 12 months ago was a result of several suppliers vacating upon the announcement of the closure.
The Outer North has seen five sales transactions over the last three months with two investment sales and three vacant possession sales which were purchased for owner occupation.
The owner occupier sales were originally listed as leasing opportunities.
The Outer North industrial market are offering very competitive rents for a prime grade buildings and is therefore are an attractive option for tenants.
Prime rents have stabilised over the last 12 months and incentives have also remained stable and therefore there is limited change in effective rents over the last 12 months.
The Outer North market has undergone this significant correction in rental and incentives which has impacted on overall vacancy over the last two years and although there is still likely to be some further vacancy when Holden closes, it is unlikely to be as significantly affected as first predicted.
Despite this there are still some head winds in this precinct with the closure of Holden due in late 2017 as they are the largest occupier in the area.
A number of strategic discussions around the closure of the site have mooted several opportunities, however it remains to be seen what will happen with the Elizabeth site and the surrounding area.
It is clear from recent activity and the significant drop in vacancy rates in the precinct that occupiers, landlords and owners are reacting well in advance of the closure benefiting the whole market.
The next two stages of the upgrade of the north south corridor has commenced.
The Torrens to Torrens project addresses the 3.7 kilometre section of South Road between the Torrens River and Torrens River.
The scope of this project includes the lowering of a 2.5 km section of road, an overpass of the Outer Harbor line and upgrades to the to Torrens Road, Hawker Street, Hurtle Street, Port Road, Grange Road/Manton Street and Ashwin Parade/ West Thebarton Road intersections. This road will have no traffic lights and will see three lanes run in both directions and is due to complete in 2018.
The Darlington upgrade project has commenced construction which will address the section of Main South Road between the Southern Expressway and Ayliffes Road. This will connect the Tonsley site to Flinders University with joint federal and state funding to extend the Tonsley line from the current terminus at Tonsley to the Flinders Medical centre and the Flinders University.
The State and Federal governments recently announced joint funding of $985 million of for the Northern Connector project. This will join the Northern Expressway, Port Wakefield Road, South Road Expressway and the Port River Expressway and will bypass six busy intersections along South Road.
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Vacancy continues to fall across all markets in Adelaide

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A prime retail investment in the heart of Chatswood is for sale. 
It is leased to Star Capital Seafood Chinese Restaurant with a long term 15 year lease that began on March 2013.
<a href="https://www.realcommercial.com.au/property-retail-nsw-chatswood-502175146" target="_blank">Located at 399-403 Victoria Avenue</a>, the property is next to the Chatswood Concourse Theatre and Library.
Westfield Shopping Centre is directly opposite from it along with Chatswood Chase Shopping Centre only 100 metres away.
However the property is currently underdeveloped. It last sold in 2011 at $10.5 million.
But it has the potential to increase the current floor space to allow a mixed use building of 1,740 sqm subject to council approval.
The NLA is 560 sqm with a land area of 696 sqm featuring a rear lane access.
Expressions of interest close on December 1 through Colliers International agents Steam Leung and Henry Burke.
A development company associated with telco giant TPG's Teoh family has acquired the nearby pair of commercial buildings at 282 and 284 Victoria Avenue for about $40 million.
The buildings were sold by he Darin family.
The two assets, located at prime sites opposite Chatswood Chase Shopping Centre, return a gross annual income of $2.3 million.
They also have future residential and mixed-use development potential sitting on 2175 sq m.
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Star Capital Seafood Chinese restaurant premises in Chatswood for sale

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Rosebery Properties and Filetron, a Cottle family company, are selling three separate lots of land with a value of over $100 million in Rosebery.
It is part of an ongoing rapid transformation from industrial to residential.
Located at 12-40 Rosebery Avenue and 108 Dalmeny Avenue, Rosebery, the site consists of a large area of 15,215sqm with existing industrial and commercial buildings equating to 11,722.80sqm generating an existing rental income in excess of $2,000,000 + GST.
The site has a huge dual frontage in excess of 170 metres to both Rosebery Avenue and Dalmeny Avenue and is located within one of Sydney’s strongest new apartment suburbs, with a potential Gross Floor Area of 32,864.40sqm and a height limit of 29 metres.
Agents Michael Crombie and Trent Gallagher of Colliers International have the offering. 
Michael Crombie said it was one of the best sites to come onto the market in 2016.
"It has great scale, over multiple titles, quality buildings and solid income, allowing staging of the development.
“Well known developers have focused heavily on the Rosebery precinct, including Meriton, Mirvac, Stockland, Top Place, LivStyle &amp; JQZ as Rosebery provides a lifestyle choice for the discerning investor or occupier, with so many new trendy eateries within the precinct."
Rates being achieved in nearby residential development projects such as “Symphony” by Meriton a 215 unit brand new development on Epsom Road, Rosebery due for completion mid 2017 are as high as $19,000 per square metre.
Offers close December 6.
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