Perth’s new apartment market recorded its strongest quarter of sales since Q4 2021, with 412 apartments sold in Q1 2026 and a record quarterly sold value of $537 million, according to Urbis’ latest Apartment Essentials results.

Urbis said the March quarter result reflects strong, highly product‑specific demand across both ends of the market, from more attainable projects delivering at scale, through to premium stock being absorbed by equity‑rich downsizers.&nbsp;

David Cresp, Partner at Urbis, said the key story in Perth is not demand, it is the market’s ability to convert demand into delivered housing.&nbsp;

“This is the strongest sales quarter since Q4 2021, and it reinforces that demand in Perth is real and it’s local,” David Cresp said. “But the task now is delivery, turning that demand into projects that can actually be built and completed.”&nbsp;

[smartcode_project:default project_id=110291 project_image_fid=302785]

<h2>Affordable product leads, premium demand remains resilient</h2>

Sales in Q1 were led by more affordable projects, with The Boulevard (SKS Group) recording 115 sales in the quarter, the presentation noting this is only the second time a single project has surpassed 100 quarterly sales. The project was able to offer more affordable housing product right next to a train station.&nbsp;

Palmyra West (Finbar) also delivered strong results with 28 sales in Q1, following 84 sales in Q4, with an average price of under $800,000, underscoring depth of demand for well‑located, attainable new stock.&nbsp;

At the premium end, Urbis said downsizer demand is continuing, with the results highlighting Romeo (Applecross, Finbar) recording 75 sales and reaching almost 50% sold in one quarter.

Jual (Shenton Park, Celsius Property) also posted a strong quarter with 28 sales, reaching 39% sold in one quarter.

Urbis noted that Perth apartment demand is not speculative, not investor‑led, and not uniform, describing it as localised, often equity‑driven and highly product‑specific, a pattern reflected in the polarisation between strong “attainable” performers and premium downsizer product.&nbsp;

[smartcode_project:default project_id=148957 project_image_fid=364102]

<h2>Prices underpinned by costs, and the delivery risk is growing</h2>

Urbis said pricing pressure is cost not demand‑driven: construction costs and delivery risk are now a central constraint, with the results noting build costs remain elevated and volatile, and that energy, fuel and labour uncertainty weigh on feasibility.

David Cresp said a growing challenge for private Build‑to‑Sell developers is simply securing a builder in the current environment.

“Developers are really feeling the pressure from a building market that was operating at capacity and securing a builder is challenging,” David Cresp said, adding that even where a builder can be secured, “trying to get to the price that makes the development financially viable is incredibly challenging in the current market.”&nbsp;

Urbis’ broader WA commentary also notes that industry remains at or above capacity with lot and housing creation, and that many builders are limiting new sales to manage stretched workforces and fixed‑price contract pressures, conditions that flow directly into apartment feasibility and delivery timing.

[smartcode_project:default project_id=108869 project_image_fid=317905]

<h2>Supply: improving later, but still constrained, and Perth lags eastern benchmarks</h2>

While near‑term supply remains constrained, Urbis’ forecast shows completions lifting “Supply is forecast to be back above 1,500 apartments per annum for the first time since 2019”, with 1,775 completions forecast for 2026, and volumes remaining above that level over the following years.&nbsp;

Looking further ahead, completions are forecast to reach 2,500 in 2028, with the report noting 32% of that total is social/affordable, reflecting the role of government‑supported delivery in rebuilding the pipeline.&nbsp;

However, Urbis said Perth remains behind comparable markets on pipeline scale. In a national comparison of projects under construction, the report shows under construction Perth Build‑to‑Sell (BTS) at 3,446 apartments versus the Gold Coast at 7,922. Mr Cresp said “The challenge for Perth is how to we grow the delivery pipeline”.

Urbis’ conclusion is that Perth’s market is increasingly defined by product discipline and delivery certainty, with the research identifying “delivery certainty is key” and calling out builder risk and procurement models as core success factors, alongside “timing and staging”.&nbsp;

Joel Robinson

Perth apartment sales hit strongest pace since late 2021 as builder capacity tightens

<a href="https://www.apartments.com.au/developers/sammut-developments">Sammut Group</a> has secured development approval for its latest Brisbane apartment project, marking the Sydney developer’s next step in expanding its Queensland pipeline following the success of its debut Gold Coast development, Coast.

The approved project at <a href="https://www.apartments.com.au/new-apartments/44-glen-road-toowong-qld-4066">44 Glen Road, </a><a href="https://www.apartments.com.au/developments/toowong-qld-4066">Toowong</a> will deliver a 15-storey riverfront apartment building with 42 residences, significantly increasing the scale of the site’s previous approval for a smaller luxury scheme. Designed by Bureau^proberts, the development will comprise a mix of predominantly four-bedroom and two-bedroom apartments positioned to maximise Brisbane River and city views.

Sammut Director Julian Sammut said the group had been actively searching Brisbane for several years before identifying Toowong as the right fit.

“Brisbane was the right step for Sammut,” Sammut said.

“With the success of Coast we thought we should definitely look to do more in Queensland alone. We then pushed up to look at Brisbane. We've been looking for I'd say two to three years actually and it was hard to find the right location.”

<img alt="Sammut makes Brisbane apartment play" data-entity-type="" data-entity-uuid="" src="https://res.cloudinary.com/dz9xllyip/image/fetch/f_auto,c_limit,w_1440,q_75/https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/field/image/Screenshot%202025-12-23%20at%203.27.14%E2%80%AFPM.png?VersionId=dYAVIL7qdcGA8ojvkslSrLjczXFejSSx" />

Sammut said suburbs including New Farm and Teneriffe were considered before the group ultimately focused on Toowong due to its strong downsizer demographic and limited supply of developable riverfront land.

The site was acquired off-market after what Sammut described as a lengthy negotiation and planning process, with the developer pursuing an uplift to the original approval.

“We are DA approved now which is very exciting,” Sammut said.

“We've had our change approval come through and we've obviously doubled the height, 15 storeys plus rooftop. We've got 42 amazing apartments that are going to be coming to market soon.”

<img alt="Sammut makes Brisbane apartment play" data-entity-type="" data-entity-uuid="" src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,dpr_2.0,q_auto:good/https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202025-12-23%20at%203.27.26%E2%80%AFPM.png?VersionId=ohkRkY0dIZlqdfME2EZePsCQavRiBadE" />

Bureau^proberts said the design responds to Toowong’s evolving urban character, balancing contemporary apartment living with the area’s established residential identity.

“A place where traditional Queensland living has taken place for centuries; Toowong is seeing a shift of contemporary influence, commercial and retail hubs mixed with well-considered residential offerings – all the while maintaining its character and charm,” the architect noted in planning documents submitted to Brisbane City Council.

The architecture practice said the project’s form was shaped by its riverfront setting, flood considerations, neighbouring building scales, and view corridors.

“They said the mix of four and two-bedroom apartments capture the ‘fundamental qualities of Queenslander living,’ translated into the context of a contemporary subtropical building.”

The development sits just off Coronation Drive within walking distance of Toowong’s retail precinct and the upgraded Regatta ferry terminal, while also benefiting from proximity to the incoming green bridge connection to West End. Sammut said the accessibility and amenity offering were central to the site’s appeal.

The approval adds to growing residential activity along the Toowong riverfront, joining nearby projects including Consolidated Properties’ Monarch Residences and Spyre Group’s ARC Residences.

Sammut secures approval for debut Brisbane apartment development in Toowong

Developer Lanevick is heading back into Sydney’s apartment market after focusing more heavily on the luxury townhouse and terrace sector in recent years.

Lanevick, founded and directed by Steve Maroun, is expecting to receive approval in the coming months for a new apartment development in Gladesville, with the aim to launch it to the market later this year.

The 51-apartment project, designed by Studio Johnston, will comprise a mix of one-, two-, and three-bedroom apartments positioned toward the Hunters Hill downsizer market.

“Traditionally it’s been difficult for people in that market to downsize because there just hasn’t been the right product available,” Maroun said.

“We’re targeting buyers who might have 30 to 40 per cent of their house value sitting in the bank after downsizing.

“They still want good spacious entertaining areas, they still want quality design, but they also want flexibility and the ability to enjoy life a bit more after working hard for a long time.”

The project sits near Boronia Park and within close proximity to the Parramatta River foreshore, an area Maroun says offers more of a Hunters Hill lifestyle than a traditional apartment precinct.

“From a lifestyle perspective, it’s really more Hunters Hill than Gladesville,” Maroun said. “You’re close to the foreshore, close to parklands, and still connected back into the village precinct.”

From level four and above, apartments will capture water views&nbsp;toward Sydney Harbour. Communal amenity will include rooftop entertaining areas, wellness spaces, and a gym tailored toward owner-occupier buyers.

“We’ve really designed these apartments around that buyer coming from the Hunters Hill LGA and what they’re actually looking for in their next chapter.”

The proposed development has also been designed to respond to the changing character of the broader Gladesville town centre, where a growing number of mixed-use and residential proposals are expected to emerge over the coming years.

“Gladesville presented a rare opportunity to deliver a genuinely design-led residential project within an evolving lifestyle precinct, just moments from the growing Gladesville town centre, and we’ve approached the project with a strong focus on architecture, liveability and long-term community value,” Maroun said.

Maroun said Lanevick saw a first-mover advantage within the precinct as planning controls continue to evolve to accommodate greater housing density.

“We think there’s a real opportunity there that hasn’t really been serviced properly yet,” he said.

“There’s going to be a broader evolution of the whole Gladesville village precinct over time, particularly with more activation and mixed-use outcomes.”

The Venus Street proposal will include a commercial and retail component at ground level designed to contribute to that evolving streetscape activation.

“A big part of the thinking was how do you activate that area properly and create more vibrancy and amenity, which is what Hunters Hill has been looking for,” Maroun said.

Lanevick’s focus since 2020 has largely been on smaller-scale luxury townhouse and terrace developments. The developer recently completed Royale Randwick, also designed by Studio Johnston, where prices reached $3.65 million. The project was featured in the UDIA NSW 2026 Professional Development Prospectus and was also named a finalist for Development of the Year.

&nbsp;

Lanevick to cater for Hunters Hill downsizers with new Gladesville apartment development

Property developer One Living, backed by former Macquarie banker turned investment manager Chris Green’s investment firm, has unveiled plans to bring more institutional capital into housing to help address the national supply crisis.

The New York-based investor has focused his firm, GreenPoint Partners, on addressing the supply shortage hitting middle market housing in Australia.

It is backing the new One Living business to develop more than 1000 units along the eastern seaboard. The new firm is starting with a development on Mona Vale Road, on the border of Mona Vale and Pymble, in Sydney’s Northern Beaches, with around 140 apartments planned. They are eyeing off more sites across the city.

With cost pressures rising in the industry, One Living’s model is to be a vertically integrated developer-builder, so it can respond directly to the housing gap by removing the cost inefficiencies embedded in traditional residential delivery.

“We are building a platform designed to operate at scale and starting in a market where there’s a clear need for quality, attainable housing,” One Living joint managing director Joseph Scuderi said.

“It’s that missing middle – it’s that attainable end of housing… that’s what most Australians invest into and what Australians can actually afford.”

<img alt="Mona Vale" data-entity-type="file" data-entity-uuid="798dfa93-4941-4db6-a696-31e9dc18e81c" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-05-28%20at%202.31.50%E2%80%AFPM.png?VersionId=mKBqi5C_DmeiXS.AtJkcR8LQIxqCqmFi" />

GreenPoint Partners brings years of experience assembling and scaling real estate operating businesses across major markets. And Green sees a big opportunity in Australia.

“For its size, sophistication and importance to the community, Australia’s living sector has remained largely under-institutionalised, which represents significant opportunity,” Green said. “GreenPoint identified that gap, assembled the right team, and is backing One Living to build a platform that is aligned to market needs.”

Green said being a builder-developer would give the company the capacity and flexibility it required to deliver reasonably-priced homes.

“We want it to be at that attainable level; not super high end luxury but at that attainable level,” he said.

<img alt="Mona Vale" data-entity-type="file" data-entity-uuid="74a5344a-4b26-4d4a-ada3-056b1220be77" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-05-28%20at%202.32.15%E2%80%AFPM.png?VersionId=vY8hXHO4reBMdO8ZXMWCNtGZJofUPQ3j" />

&nbsp;

One Living will undertake a component of affordable housing in its schemes, which it will own and operate, and it could also run build-to-rent on some sites.

Green praised local policy settings.

“The NSW government is being very supportive, strategic and pragmatic in terms of how do we generate more supply of housing,” he said. “We think it’s actually positive for development and the bit that’s been lacking at that attainable level is that it’s lots of relatively small private developers, whereas we want to create an institutional platform.”

One Living is also&nbsp;looking at high-density projects and could take on more institutional funding in the future.

“The way we will be able to achieve economies of scale is through size,” Green added.

One Living enters Sydney's new apartment market with Northern Beaches site acquisition

It's been several years since there's been an opportunity to buy a brand new townhome in Melbourne's coastal suburb of Mordialloc. Even apartment developments in recent times have been few and far between in the area.

Local developer LDS Property identified the gap in new housing, securing a site on White Street, directly opposite&nbsp;Woodlands Golf Club Mordialloc. They've recently launched&nbsp;<a href="https://www.apartments.com.au/new-townhouses/wm-residences-mordialloc-102-white-street-mordialloc-vic-3195">WM Residences</a>, just 13 townhouses which they have already started building.

Projects by Buxton Director Heath Thompson, who is selling WM Residences, says the townhouses x that perfect middle ground be

"Mordialloc residents have had limited options to downsize within the suburb, often forcing them to look elsewhere despite long-standing ties to the area," Thompson says.

"With very little comparable new supply coming to market, projects like WM Residences are well placed, particularly as buyers look to capitalise on current conditions amid constrained supply."

[smartcode_project:default project_id=134646 project_image_fid=6109]

The development, designed by regarded architecture firm&nbsp;<a href="https://www.apartments.com.au/architects/ewert-leaf">Ewert Leaf</a>,&nbsp;adopts a deliberately restrained architectural approach, focusing on simplicity, durability and liveability rather than overt design gestures.

The boutique scale is central to the offering. With only 13 three-bedroom residences, each home is configured to prioritise functional layouts and everyday use, supported by private terraces and secure two-car garages.

Ewert Leaf’s design response leans into a calm, neutral material palette. Interiors are defined by oak flooring, white walls and soft finishes, creating a consistent and understated backdrop. The approach avoids trend-driven detailing in favour of longevity, with an emphasis on natural light and spatial clarity.

[smartcode_project:default project_id=134646 project_image_fid=6110]

Beyond aesthetics, the homes are designed to meet contemporary performance expectations. Each residence targets a minimum 6-star energy rating, incorporating double glazing, comprehensive insulation and all-electric Bosch appliances.

The project’s location supports a walkable coastal lifestyle, sitting within close proximity to Mordialloc’s foreshore, Main Street retail strip and the train station. Local cafés and dining venues, including Suburbia Deli and Hendriks Café, are within a short walk, reinforcing the area’s established neighbourhood character.

[smartcode_project:default project_id=134646 project_image_fid=6116]

While <a href="https://www.apartments.com.au/developments/mordialloc-vic-3195">Mordialloc</a> is often defined by its beach and pier, the project taps into other areas of day to day living, offering easy access to local food, casual dining and transport, rather than positioning itself purely as a lifestyle retreat.

WM Residences reflects a continued trend across Melbourne’s coastal suburbs towards smaller-scale, design-led townhouse developments, particularly on infill sites where proximity to amenity is already established.

With construction commenced prior to its market entry, the project aligns with a growing preference among buyers for developments with visible progress and defined delivery timeframes.

[smartcode_project_cta:default project_id=134646]

WM Residences fills gap in Mordialloc townhouse market

Commercial Auction

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A Woolworths/Caltex Service Station and convenience store in NSW’s Lower Hunter Valley has sold recently for $1,162,000 at auction.
The service station at <a href="https://www.commercialrealestate.com.au/property/54-ken-tubman-drive-maitland-nsw-2320-2013419286" target="_blank">54 Ken Tubman Drive</a> in Maitland opened circa 2006.   The lease on it has been renewed for five years to 2021 with two further options for renewals. 
It last sold for $795,000 in 2011.
Woolworths Caltex is a joint venture between Caltex Australia and Woolworths Limited with mor than 600 outlets.
The property is easy to manage as it is a single-tenant investment. 
Its current rent is $76,110.90 p.a. plus GST. 
The land area is 1546 sqm.
Maitland is a two-hour drive on the F3 north of Sydney. The property is close to the Maitland CBD and has good traffic exposure.
The selling agent was Jackie Wang of Raine &amp; Horne.
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jonathanchancellor-7SQnKwU6yx

Woolworths Caltex service station in Lower Hunter Valley fetches $1.16 million at auction

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A tenanted property in the heart of Sydney’s Castle Hill has sold at auction for $$4.125 million, a record price, according to the selling agents.
The shop at <a href="https://www.realcommercial.com.au/property-retail-nsw-castle+hill-502262298" target="_blank">285 Old Northern Road, Castle Hill, NSW 2154</a> is directly opposite Castle Towers Shopping Centre. 
The freestanding two-level building has a floor area of 208 metres. 
It is leased to long-standing tenant MG’s Hair and Beauty, a popular brand in the Hills District.
The property was snapped up by a mystery bidder from Melbourne, according to the Daily Telegraph.
The auction started with bids from $2 million and soon bidders upped the stakes till it was finally settled for $4.125 million.
The sale price was well above expectations, according to selling agent Simon Russo of First National.
“The price is more than we expected and I am just as delighted as the sellers,” he was cited by the Daily Telegraph as saying.
The site was sold by Cheung Kwong Enterprise which bought it from St George Building Scty Ltd for $850,000 in 1998, according to RP Data.
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Castle Hill shop nets more than $4 million at auction

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A heritage-listed building which was earlier the home of Rockhampton Post Office is going under the hammer at Burgess Rawson auction on April 5.
The iconic building at <a href="https://www.realcommercial.com.au/property-retail-qld-rockhampton+city-502317358" target="_blank">80 East Street, Rockhampton City, Qld 4700</a> is one of the top five ”Nobel Edifice" ranked buildings in Australia.
The building is fully leased with terms to 2022 with options for extension till 2032. The property earns a net Income of $458,902 per annum.
Tenants include Degani Bakery Café (Jolt Café), which has 78 stores in Queensland and Victoria, The Ranch Bar and Grill — a Texan-inspired restaurant, and Fitzroy Basin Association, a government-funded natural resource body.
It has a land area of 1,863 square metres and floor area of 1,368 square metres.
The current owner has refurbished the building with a new lift, airconditioner, electrical wiring and internal fittings.
The property last traded for a little more than $1.4 million in 2008, according to RP Data. The vendor was Central Queensland University. 
It has a site area of 1,863 square metres with a net lettable area of 1,368 square metres. 
The listing agents are Shaun Venables and Jamie Dewe of Burgess Rawson.
 
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Heritage Rockhampton building to go under the hammer

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A Black Rock corner freehold has sold under the hammer for $5.25 million, 41 percent above the reserve price. 
The 1,062 sqm site at 41B Bluff Road comprises a retail and office complex across four separate titles, returning $197,842 per annum plus GST.
Fitzroys agents Mark Talbot and David Bourke sold the property. 
Talbot said around 80 enquiries were received for the property from a combination of investors and developers. He said competition among six bidders pushed the sale price far beyond the reserve to close to $5,000 per sqm. 
He said a local buyer eventually won out, with the sale price reflecting a tight 3.7 percent yield. 
Bourke added that, “Black Rock Village is an established commercial hub with a surrounding catchment including the desirable suburbs of Beaumaris and Black Rock, with further traffic generated by its proximity to the Port Phillip Bay Foreshore Reserve and Half Moon Bay.”
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Bayside corner freehold in Melbourne’s Black Rock sells for 41 percent above reserve 

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A development site in West Melbourne with a permit for apartments and ground floor office is up for auction with price expectations of at least $2 million.
The auction is on March 2 through Teska Carson.
Located at <a href="https://www.realcommercial.com.au/property-retail-vic-west+melbourne-502222982" target="_blank">53 Dryburgh Street</a>, two kilometres from the CBD, the property comprises a two-level office building on a 230 square metre site zoned Mixed Use.
It has apermit for a five-level, mixed-use development, with 19 apartments and an office, and has two street frontages.  
According to marketing agents, Teska Carson’s Gideon Marcus and George Takis, the property will be sold subject to a short term, ground floor lease at $40,909 per annum plus GST. The first level is vacant. 
Marcus said West Melbourne had developed into a vibrant inner-city location because it was close to essential services including public transport, freeways, shopping, sporting arenas, schools and public open space.
“Sites with easy access, two or more street frontages, have been very much in demand from both developers and end users as well as owner-occupiers and investors,” Marcus said.
"It goes without saying that sites with a development permit in place have been that much more attractive, and for that reason we expect a high level of interest in Dryburgh Street.’’ 
Takis said the CBD fringe apartment market had gone from strength to strength as Melbourne’s population growth surged and a new generation of Australians chose the inner-city lifestyle which afforded close proximity to everything with a minimum of travel required.
“Properties which present in this market generally offer fundamentally sound investment credentials and Dryburgh Street is no exception,’’ he said.
 
   
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West Melbourne site with apartment permit up for auction for more than $2 million

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A 600 square metre freehold office/retail building at Windsor has been sold for $3.93 million.
Located at 86-90 High Street the property was purchased by a private local buyer.
The property is a character-filled, double-storey corner building that is primed for owner-occupancy, investment or development.
It was sold by Colliers International agents Ben Baines and Jeremy Gruzewski at an auction.
It can be configured into a retail showroom, residential storage, office and car parking space, the property presents significant value-add opportunity under a Commercial 1 zoning with vacant possession.
Baines said the property appealed to a wide range of developers, investors and owner-occupiers.
“We received 180 enquiries and 25 requests for contract prior to the auction, with five parties competing at auction,” he said.
“This is the seventh property we have sold in the past six months in Prahran/Windsor.
“The strong demand for each opportunity is indicative of the successful gentrification that has occurred in Windsor over the past three to five years.”
Gruzewski said he had witnessed land rates in the area increase by approximately 45% during the past three to four years.
“The eventual purchaser saw great value in the current improvements and appreciates its underlying redevelopment potential as well,” he said.
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j.ballantyne1990-6AQqhLzZaK

Windsor building fetches $3.93 million at auction

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The Dudley Hotel, Bathurst, is set for auction on December 15.
Manenti Quinlan and Associates of Sydney and Thomas Cooper and Company of Newcastle have been appointed as agents.
The Dudley Hotel is a regional icon in one of the fastest growing regional areas in New South Wales.
The hotel has a wonderful streetscape with a wrought iron wrap-around verandah.
The hotel has been refurbished.
Bathurst is just over two hours from Sydney in a region steeped in history with a continually growing tourism focus.
The hotel provides an offering across food, beverage and gaming.
The marketing indicates trading figures demonstrate "excellent" cash flow and identify the continual growth of the business.
The hotel occupies a strategic 2,914 square metre site with extensive on-site parking.
"The Dudley Hotel is undoubtedly one of the best regional hotels to come to the market in the last five years," Gerry Quinlan of Manenti Quinlan said.
He expects interest from interstate as well as local buyers.
Richard Thomas of Thomas Cooper and Company believes that the stable and vibrant Bathurst economy provides security to potential investors.
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Leading NSW regional hotel in Bathurst set for auction

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The Union Arts Centre, circa 1865, at Clunes is going to auction.
The 1031 sqm corner site property is located at <a href="https://www.realestate.com.au/property-house-vic-clunes-123938150" target="_blank">22 Fraser Street</a> and is a period style residence and commercial space with a fully functioning artists studio/exhibition space.
This is an opportunity to acquire a historical bank building with attached dwelling of seven substantial rooms and separate light filled studio/gallery space created by renowned architect Daryl Jackson.
The property is set in the heart of Clunes which is home to ‘Booktown’ Festival that brings thousands of visitors to town.
It features 14’ ceilings, huge country kitchen with combustion stove, open fires and two bathrooms. It would be an ideal property or home and business.
The auction is on November 26 and is offered through AAG Property Consultants agents Angela Flowers and Jo Millar.
It last traded for $140,000 in 1999.
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Historic circa 1865 Union Arts Centre at Clunes on auction

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Sydney art conservator David Stein has listed his Darlinghurst creative space for the first time in more than 20 years.
Located at <a href="https://www.realcommercial.com.au/property-offices-nsw-darlinghurst-502138602" target="_blank">32b Burton Street</a> the property has a corner position.
The three storey property has permits for mixed-use building residential, retail, commercial and short term accommodations pending council approval.
It has three bedrooms, two bathrooms and a single space for a car.
During vacancy it was the former home of Stein’s art restoration business David Stein and Co which has been cleaning and retouching Sydney artworks for museums, galleries, auction houses and high profile art dealers.
Stein is selling to move to a purpose-built studio in Alexandria.
The property is offered through CBRE agents Gemma Isgro and Michael Khouri on November 5 auction.
It last sold for $251,500 in 1993.
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David Stein's Darlinghurst creative space for auction for first time in two decades

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A property investment at Chatswood has been sold at an auction.
Located at <a href="https://www.commercialrealestate.com.au/property/301-7-railway-street-chatswood-nsw-2067-2012992438" target="_blank">301/7 Railway Street</a>, Chatswood, it has a freshly renewed three year lease that expires on August 2019 with options to extend.
It is leased to Myhealth Medical Centres as its head office premises.
It is an ultra-modern Chatswood CBD building located adjacent railway station.
It is an easily managed investment with an annual rent increase to greater of CPI or 3% with a net income of $67,200 per annum plus GST.
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