<a href="https://www.apartments.com.au/developments/broadbeach-qld-4218">Broadbeach</a> offers plenty of reasons to live vertically, but moving from a substantial family home into an apartment can expose the compromises of high-density living. Privacy, room for guests and usable living space tend to matter more when an apartment is intended as a permanent home rather than an occasional coastal base.

A typical residential floor at <a href="https://www.apartments.com.au/new-apartments/the-eveleigh-broadbeach-7-9-surf-parade-broadbeach-qld-4218">The Eveleigh</a>, on Surf Parade,&nbsp;contains just four apartments. The 94-residence development by <a href="https://www.apartments.com.au/developers/hirsch-faigen">Hirsch &amp; Faigen</a> is predominantly made up of expansive three-bedroom homes, with a limited collection of half-floor penthouses above.

Across the apartment floors, <a href="https://www.apartments.com.au/architects/rothelowman">Rothelowman</a> has used the relatively limited number of residences to give each home greater access to natural light and outlook. Living spaces extend towards full-height glazing, while a series of bay windows frame selected views across the Pacific Ocean, city and hinterland rather than treating the building edge as a continuous wall of glass.

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[smartcode_project:default project_id=149670 project_image_fid=360965]

“The apartment floors deliver a collection of homes that embrace controlled outlook via a series of bay windows deliberately framing moments of view,” Rothelowman Director Kim Lowman said.

From outside, those projecting forms contribute to the tower’s faceted profile. Strong horizontal and vertical elements establish its proportions, while the changing position of the sun alters the light, shadow and reflection across the façade throughout the day.

The same attention moves inside the apartments, where the material palette combines warm timber, natural stone, metallic detailing and softer curved forms. Kitchens sit within the main living zone, with stone island benches, integrated joinery and European appliances, before the living areas extend towards the glazing and the outlook.

&nbsp;

[smartcode_project:default project_id=149670 project_image_fid=360981]

Three genuine bedrooms provide room to accommodate family and guests, while two secure car spaces and storage address some of the practical considerations that can become more noticeable when moving from a larger home. Feedback from the display suite has centred on the warmth and restraint of the interiors, with buyers commenting that the residences feel like homes rather than conventional coastal apartments.

A limited collection of half-floor penthouses occupies the upper levels, increasing the scale of the living spaces and adding private balconies and elevated finishes. From this position, the outlook extends between the ocean and hinterland.

Outside the private residences, The Eveleigh separates its shared spaces between the podium and rooftop. The podium is centred on wellness, with subtropical landscaping surrounding a swimming pool and pool terrace, yoga garden, private gymnasium, sauna and hot and cold plunge facilities. Landscaped retreats and pavilions provide additional places to sit away from the main recreation areas.

&nbsp;

[smartcode_project:default project_id=149670 project_image_fid=360966]

Higher in the building, a rooftop pavilion and private dining suite sit alongside resident lounge, barbecue and outdoor dining areas, opening towards panoramic views across the ocean, city and hinterland.

“Buyers are no longer just looking for an apartment, but a lifestyle where they can relax, reset, and enjoy a balanced way of living,” Hirsch &amp; Faigen Director of Sales Matt George said.

Interest to date has come from established owner-occupiers and interstate lifestyle purchasers, including buyers planning a future move to the Gold Coast. Many are coming from larger homes and want to reduce ongoing maintenance without giving up space for family and guests, privacy, two car spaces or the ability to entertain at home.

&nbsp;

[smartcode_project:default project_id=149670 project_image_fid=360969]

Much of that daily life can also take place beyond the building without requiring a drive. Kurrawa Beach and Pratten Park are an easy walk from Surf Parade, while Pacific Fair, Oracle Boulevard, The Oasis, restaurants, cafés, entertainment and public transport are also within walking distance.

The Eveleigh is Hirsch &amp; Faigen's fourth Gold Coast development since entering the market in 2021, following The Hemingway at Palm Beach, The Emerson at Kirra and Yves at Mermaid Beach. Each of the preceding projects sold out before completion.

“Broadbeach had been on our radar throughout our time operating on the Gold Coast,” the developer said. “Following our projects in Palm Beach, Kirra and Mermaid Beach, Broadbeach represented the natural next step for the business.”

The Surf Parade site brought together proximity to the beach, protected coastal outlooks and walkability to dining, shopping and recreation. Hirsch &amp; Faigen also identified the street as an emerging premium residential address, with enough separation from Broadbeach's busier destinations to retain a quieter environment at home.

The Eveleigh is now under construction by Maxcon, with completion forecast for mid-2028. Three-bedroom residences are currently available from $2.87 million.

[smartcode_project_cta:default project_id=149670]

Joel Robinson

The Eveleigh brings house-like apartments to Broadbeach

A long-stalled Campbelltown development site is back in play, with new plans for 139 apartments set to supersede a mixed-use scheme approved almost a decade ago but never built.

The new proposal for 28 Cordeaux Street would deliver 116 market and 23 affordable apartments in a part 14-storey building, bringing a substantial new project into a Campbelltown market where new apartment supply remains limited.

Plans have been filed over the 3,092 sqm corner site at Moore-Oxley Street, around 600 metres from Campbelltown Railway Station and the city-centre retail core.

The site already carries a mixed-use residential approval dating to 2016. Doroch Architects has now been engaged on a larger replacement scheme, which is progressing as a State Significant Development Application following a Housing Delivery Authority determination in August 2025.

The apartment mix comprises 39 one-bedroom, 72 two-bedroom and 28 three-bedroom residences. Two-bedroom apartments make up just over half of the project, while three-bedroom homes account for 20 per cent.

<img alt="First look: New 139-apartment plans revive long-stalled Campbelltown city centre site" data-entity-type="file" data-entity-uuid="136dd5b9-3791-4da6-9e31-76f533f5b4de" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Campbelltown%20da2.png?VersionId=LgOSy9nwf5u.MGswBBwaGGxuX8QpHSl_" />

Of the 139 apartments, 23 will be delivered as affordable housing under the in-fill affordable housing provisions of the Housing SEPP. The affordable component represents 15 per cent of the residential gross floor area and will be managed by a registered Community Housing Provider.

Doroch has sought to break the scale of the building into two distinct elements, with a masonry podium of around four storeys establishing the street edge before the residential tower steps back above.

The corner position has shaped that approach. Cordeaux Street faces toward the commercial and civic centre, while Moore-Oxley Street leads into the lower-scale residential neighbourhood to the south, and the design verification report describes the site as "bridging the commercial core to the north and established residential areas to the south."

The podium will be expressed predominantly in face brick, while the upper levels shift to brushed and grooved concrete cladding with darker metal detailing. Recessed sections, deep balcony edges and landscaping break down the upper form, with an approximately 11.8-metre setback to the northern boundary addressing the adjoining St Peters Anglican School.

<img alt="First look: New 139-apartment plans revive long-stalled Campbelltown city centre site" data-entity-type="file" data-entity-uuid="c8b3d2d3-c561-4bfc-a5d9-a68c0c10dac1" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Campbelltown%20da1.png?VersionId=AeAEyJU02Gk2k5noUj2StziCvdQ7fW4B" />

Campbelltown has been starved of new residential developments in the last decade.

The only other notable development set to come to market this year is ALAND's Queen Square, a mixed-use precinct on over two hectares that will comprise apartments above a vibrant ground-level retail and hospitality dining precinct.

First look: New 139-apartment plans revive long-stalled Campbelltown city centre site

First Look: Sherlock Construction pitches apartments for low-rise Deception Bay

Queensland builder-developer MAYD has revealed the first look at its major North Kirra beachfront development, lodging amended plans that reduce the number of apartments and increase the proportion of larger residences.

The project is planned across a substantial 4,742 sqm amalgamated site spanning seven lots at <a href="https://www.apartments.com.au/new-apartments/2-6-pacific-parade-bilinga-qld-4225">2-6 Pacific Parade</a> and 27-33 Golden Four Drive in Bilin​ga, directly opposite Nor​th Kirra Beach.

<a href="https://www.apartments.com.au/developers/mayd-group">MAYD</a> secured the site for $32.5 million in 2025, in what was one of the Gold Coast's largest property transactions of the year.

The development will be delivered across two stages, with the first stage carrying an estimated gross realisation value of around $360 million.

The latest amendments seek to reduce the overall apartment count and shift the project further toward the owner-occupier market, with larger residences designed for buyers wanting considerably more space than traditionally offered in a beachfront apartment.

The residential mix will include townhomes, oversized two-bedroom apartments, substantial three-bedroom residences and four-bedroom homes.

MAYD has appointed Cera Stribley to lead the architecture and interiors, with the Melbourne-based design practice drawing on the beachfront setting through a series of ocean-facing terraces and heavily landscaped balconies.

Strong horizontal forms and curved balconies will define the exterior, with subtropical landscaping integrated throughout the building to soften the built form and increase the connection between the residences and the beachfront.

The project will also include an extensive collection of resident wellness and lifestyle facilities, continuing the broader shift across the Gold Coast's luxury apartment market toward larger homes supported by resort-style amenity.

<img alt="MAYD" data-entity-type="file" data-entity-uuid="d1bcbb05-e659-4b47-8bd4-1e595315e2ad" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-27%20at%202.05.03%E2%80%AFPM.png?VersionId=jj0XEud1X1DuLt7_KyElhjMdZGOXmLHP" />

MAYD Founder Todd Mould said North Kirra was increasingly appealing to buyers attracted to the more established, lower-density character of the southern Gold Coast.

"North Kirra presents one of the most compelling luxury residential opportunities currently emerging in Australia, combining absolute beachfront with the character and authenticity that buyers are increasingly seeking, and the same sense of tight-knit community that defined Burleigh and Currumbin perhaps 10 or 15 years ago," Mould said.

"With Gold Coast Airport on its doorstep, it also offers a level of accessibility that broadens its appeal across almost every market demographic."

The project comes as the southern Gold Coast continues to attract an increasing share of high-end apartment development and buyer activity.

Kirra in particular has emerged as one of the region's more tightly held beachfront markets, with its relatively low-density character, established surf and hospitality scene and proximity to Gold Coast Airport differentiating it from the higher-density markets further north.

Mould said those characteristics had informed the approach MAYD and Cera Stribley had taken to the project.

"We've worked closely with Cera Stribley to create a vision that is deeply connected to its surroundings," he said.

"Inspired by the coastline itself, the architecture has been shaped around space, privacy and resort-style living, creating a collection of homes that reflects the next generation of luxury on the southern Gold Coast."

MOTIV Managing Director Carly Cottam, who has been appointed to market the project, said buyer attention had continued to move south along the Gold Coast.

"Purchasers who may once have defaulted to Broadbeach, Main Beach or Surfers Paradise are increasingly recognising the value of a genuine beachfront location that offers lower density, strong amenity and a more established sense of community," Cottam said.

"Kirra has a powerful combination of growing demand and genuine scarcity. Beachfront supply is inherently constrained, the area remains relatively low density, and buyers are increasingly placing a premium on locations that feel established, uncrowded and authentic rather than heavily developed."

Cottam said the proximity to Gold Coast Airport was also proving increasingly important for interstate and second-home buyers.

"Being minutes from Gold Coast Airport makes it particularly compelling for interstate buyers, frequent travellers and second-home purchasers who can access an authentic coastal lifestyle almost immediately after stepping off a flight."

The acquisition takes MAYD's active development portfolio to more than $500 million, with the North Kirra project representing one of its largest undertakings to date.

MAYD is targeting an early 2027 launch.

First look at MAYD's North Kirra mixed-use precinct

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Castle Hill, the longtime hub of the Hills District, has been one of the major beneficiaries of Sydney's Metro expansion, with improved connectivity helping drive continued population growth, development and buyer demand across the Hills District.

But despite that growth, the suburb has seen relatively few major new apartment projects brought to market over the past 18 months.

Hills District developer Reve Group is looking to fill that gap with <a href="https://www.apartments.com.au/new-apartments/nova-r-ve-castle-hill-2-garthowen-crescent-castle-hill-nsw-2154">Nova Rêve</a>, a major new mixed-use precinct on the corner of Garthowen Crescent and Old Castle Hill Road, a short walk from Castle Hill Metro Station and Castle Towers.

[smartcode_project:default project_id=152737 project_image_fid=377679]

The project will comprise three residential towers alongside a hotel, restaurants, cafes and a skybar, more than 1,600 sqm of ground-floor retail and almost an acre of landscaped gardens.

It represents the largest project undertaken by Reve Group, the development arm of the Kassis family, which has been building across the Hills District for more than 30 years through Kassis Homes.

[smartcode_project:default project_id=152737 project_image_fid=377675]

Nova Rêve also represents a significant step up from the family's first apartment development, Grand Rêve, which was delivered nearby on Garthowen Crescent.

Grand Rêve introduced larger, house-like apartment layouts and premium inclusions including Wolf and Sub-Zero appliances to the Castle Hill market.

Nova Rêve takes that approach to a precinct scale, combining the residential component with hospitality, retail and substantial public and resident landscaping.

[smartcode_project:default project_id=152737 project_image_fid=377685]

Reve Group Managing Director Sam Kassis said the project reflected the family's three decades of building in the Hills, which has evolved from trophy homes on quarter-acre blocks to larger-scale apartment development.

"Grand Rêve was our first apartment project here and it showed us what this pocket of Castle Hill could be. Nova Rêve is the refinement of that idea: not just apartments, but a place the whole suburb can use," Kassis said.

A key part of that approach is the hotel, which has been designed to operate as an amenity for the wider Castle Hill community rather than solely hotel guests.

It will include restaurants, cafes, skybars and all-day dining, alongside conference and event facilities catering to business functions, community groups and private events.

At ground level, more than 1,600 sqm of shops and cafes will open onto the surrounding streets and landscaped areas.

Almost an acre of gardens designed by Land and Form Studios will run through the precinct, incorporating pathways, seating, barbecue areas and children's play spaces.

[smartcode_project:default project_id=152737 project_image_fid=377680]

Reve Group's Romio Georges said creating an active ground plane had been central to the planning of Nova Rêve.

"There are gardens with pathways, barbecues, seating and play areas, shops and cafes opening onto the street, and a hotel with restaurants and a skybar that anyone in Castle Hill can walk into," Georges said.

The project's elevated position on one of Sydney's highest ridgelines will also provide apartments with outlooks toward the Sydney skyline, surrounding parkland and the Blue Mountains.

More than 80 per cent of the apartments will occupy corner positions, with Turner responsible for both the architecture and interiors.

&nbsp;

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Nova Rêve arrives as Reve Group bets on Castle Hill's next growth phase

Commercial Investment

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Commercial investment activity in Australia in the third quarter remained strong with $8.8 billion invested over the quarter, amounting to a total investment of 23.3 billion so far this year, according to Cushman &amp; Wakefield.
This follows an exceptionally strong second quarter in which $9.2 billion was invested involving a flurry of large deals late in the quarter, according to the commercial real estate company’s latest research. 
The number of deals and average deal size remain broadly flat quarter on quarter at 186 deals at an average of $47 million. 
The total investment volume of $23.3 billion has increased from the $20.3 billion recorded at the same point last year. 
<a href="https://www.propertyobserver.com.au/images/2017/10/13/Q3TotalInvest.png" target="_blank">Click to enlarge</a>
<img src="https://www.urban.com.au/images/2017/10/13/Q3TotalInvest.png" alt="">
“With 10 assets at an estimated value of almost $2.4 billion on the market in Sydney CBD alone, the fourth quarter of 2017 looks likely to continues in the same vein as the start of the year,” it said.
<a href="https://www.propertyobserver.com.au/images/2017/10/13/Q3InvestbySector.png" target="_blank">Click to enlarge</a>
<img src="https://www.urban.com.au/images/2017/10/13/Q3InvestbySector.png" alt="">
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<img src="https://www.urban.com.au/images/2017/10/13/Q3ForeignInvestment.png" alt="">
Annual investment volume is expected to exceed $30 billion for the fourth consecutive year and could go close to the peak of $35 billion recorded in 2014. 
Unlisted funds continued their run of strong buying activity, ending the quarter at $1.5 billion in net purchasing.
In contrast, REITs retuned to net selling at $120 million in the red. 
Foreign investment slowed quarter on quarter to $2.5 billion, representing 29% of total investment. 
So far this year, foreign investors have committed $8.7 billion (37%).
<a href="https://www.propertyobserver.com.au/images/2017/10/13/Q3Transact.png" target="_blank">Click to enlarge</a>
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Commercial investment could exceed $30 billion in 2017: Cushman & Wakefield

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The Swiss AFIAA (Foundation for International Real Estate Investments) has broadened its interest in the Australian real estate market with an “asset swap”. 
The company has bought an office building in Melbourne’s <a href="https://www.realcommercial.com.au/property-offices-vic-melbourne-502382946" target="_blank">628 Bourke Street</a> (above) for its property portfolio for around $181 million. The seller is M&amp;G Real Estate Asia. 
In return, AFIAA has sold its “HQ South” office building at <a href="https://www.commercialrealestate.com.au/property/520-wickham-street-fortitude-valley-qld-4006-2013471731" target="_blank">520 Wickham Street</a> (Fortitude Valley) in Brisbane, which measures nearly 14,000 sqm, to the investor for $119 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/2017/09/04/AFIAA_BrisbaneHQ.jpg" alt="">
The Melbourne property is in the CBD and offers around 23,400 sqm of office space and 940 sqm of retail space. Both the lift lobbies and individual floors have been renovated in recent months. One of the key tenants is the insurance company QBE.
AFIAA chief executive Ingo Bofinger said the group was planning further acquisitions in central metropolitan locations as part of its growth strategy. 
“The transaction is a prime example for the implementation of our focus strategy: We are investing the sale price received for HQ South of around AUD 119 million in a larger property in Melbourne, where we already have two more properties,” Bofinger said.
“We are eying further potential to increase rents in excellent locations in Melbourne in particular.” 
Potential properties also include real estate with development potential whose value added is to be enhanced by asset management using refurbishment measures.
In Australia, AFIAA also owns properties in Sydney in addition to two other properties in Melbourne’s CBD. 
AFIAA is an investment foundation under Swiss law that invests foreign real estate assets. Forty-five Swiss pension funds currently invest directly in prime foreign properties through AFIAA. The properties in Australia are centrally managed by the AFIAA office in Sydney. 
The legal consultant for the acquisition and sale was Mills Oakley. 
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Swiss AFIAA Foundation does an asset swap deal, buys in Melbourne, sells Brisbane HQ to realty investor 

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Operational costs for commercial buildings have increased by double the rate of inflation and four times the rate of construction cost rises during during the last 10 years, according to the latest figures from Turner &amp; Townsend. 
The company compared increases in the cost of rates, electricity, insurance, maintenance wages, cleaning and security. These were then compared with cost movements for the CPI (consumer price index) and the cost of non-residential construction from the Australian Bureau of Statistics data.
Gary Emmett, senior economist for Turner &amp; Townsend, said while the overall operational expense items have increased by 58 percent during the last decade, CPI inflation rose 28 percent and the cost of non-residential construction was up 16 percent over the same time period. 
The analysis covered Sydney, Melbourne, Brisbane, Perth and Adelaide. 
“Primary factors driving cost increases are rates, electricity and insurance. Wages and cleaning costs have increased at inflation or just above, while security increased at less than inflation,” said Emmett.
“What we discovered is these items tended to increase significantly in some years, however drop off in others. Electricity costs are prone to spikes and troughs, increasing by 18 percent in 2012 and then falling by two percent in 2015 - 2016. 
“Of all the items included, electricity was the most volatile with severe increases experienced in each region during the last decade, but not simultaneously. In both 2010 and 2012, electricity spikes were particularly high across all five regions. The last six months has demonstrated electricity costs throughout Australia are escalating.”
He said rates have always risen more than the CPI in all regions over the past decade. In both 2008 and 2009, these were particularly high in all regions with average rate rises above six percent. 
For Melbourne and Adelaide, rate increases in 2013 and 2014 were about 16 percent.
“As a result of the national electricity market changes, including a transition to renewable energies, there is a high probability suppliers will continue to increase charges in the short term while new technologies and distribution systems are implemented,” said Emmett.
Higher Council rates reflect a need to increase revenue. Average rate increases of around four percent are currently below the 10-year average of 5.7 percent. 
“Weaker public sector wages growth and CPI growth rates may hold rate increases at similar levels within the next few years.”
“Insurance premiums are up 60 percent nationally within the last ten years, more than twice the increase in CPI. Climate change, higher fire and flood risks are likely to increase insurance premiums,” Gary added.
The commercial building sector is set for solid growth during 2017-18 based on the number of new commercial buildings commencing in the coming year. Office construction is predicted to increase in all of the east coast capitals. 
Sydney is likely to lead with its strong service economy driven by finance, real estate and insurance. However, Melbourne and Brisbane are also looking to experience a surge with several new projects poised to start.
“Businesses need to be mindful of the additional costs of building ownership as costs typically spiral upwards. The trend towards higher cost increases across major commercial building expenses is evident over the past decade. Businesses are unlikely to impact on council rate increases apart from lobbying, which is more often than not unsuccessful.
“With electricity so volatile, there is a greater requirement for more sustainable designs. Building owner operators or building tenants should identify sustainable energy saving technologies to reduce power usage, and insist any new buildings install these technologies.”
An analysis reflected that the operating cost increases across the states were fairly evenly spread, though Brisbane was marginally higher. Electricity costs have risen by 144 percent in Brisbane within the past ten years, compared to 114 percent nationally.
“When considering where to locate, landlords and tenants are increasingly evaluating whole of life costs rather than up-front costs,” Gary concluded.
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Commercial building operational costs rise at twice the inflation rate: Turner & Townsend

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Perth-based fund manager Mair Property Funds (MPF) are set to buy two commercial properties in Melbourne for a combined $20.3 million.
The properties are in Ravenhall and Altona North.
The Ravenhall property, in the Orbis Business Park was built in 2010 and has a land area of 13,930 square metres. The 6,888sqm building is occupied by Australian Pipe and Tubing with a 15-year lease until 2031.
The Altona North property is an industrial warehouse built in 2008 with a land area of 18,410sqm. The 10,056sqm building is occupied by Grace Records Management with a recently agreed 8-year lease that expires in 2025.
Peter Melling, MPF acquisitions manager said the two high-quality assets were identified for their favourable locations and strong lease agreements, which would help bolster the trusts revenue security and income diversity.
“Altona is becoming an increasingly important logistics hub due to its proximity to the Melbourne Port and access to the Princess Freeway and Western Ring Road,” he said.
“Similarly, Ravenhall is a rapidly growing suburb part of the West Growth Corridor Plan, where the population is expected to increase from 210,000 in 2016 to 377,000 people.
“Both properties also offer strong lease covenants with reliable tenants providing investors with a steady income stream.”
Upon completion of the acquisition, the properties will be included in MPF’s Diversified Property Trust, which already holds four commercial assets.
These include a retail premise in Maraoochydore (Queensland), a medical facility in Ellenbrook (Western Australia), an industrial premise in Henderson (Western Australia) and a retail industrial premise in Lynbrook (Victoria).
The acquisition of the Ravenhall and Altona North assets takes the value of properties under management by MPF to $208 million.
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Fund manager Mair Property secures two Melbourne commercial properties in $20m deal

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Balmain Corporation has completed the purchase of D’ALBORA Marinas from Ardent Leisure.
The deal was valued at $126 million when it was announced last year.
Goldman Sachs and Sydney‐based commercial property lender and fund manager Balmain Corporation formed a joint syndicate to buy the portfolio from Ardent Leisure.
D’ALBORA Marinas comprises seven marinas at Rushcutters Bay, The Spit and Cabarita Point in Sydney, two marinas adjacent to the Melbourne CBD and two at Nelson Bay and Akuna Bay, north of Sydney.
The marinas currently offer boat users 1,700 berths alongside more than 200 retail outlets, providing a various amenities.
The acquisition bolsters Balmain’s current maritime portfolio which includes Martha Cove, Horizon Shores and Port of Airlie. 
The combined group will have 3,000 berths spanning the eastern seaboard of Australia.
“Our strategy is to change the way marinas operate in Australia by significantly deepening the customer service offering,“ said Andrew Griffin, CEO of Balmain Corporation. 
“Marina customers should be entitled to be treated like hotel guests and the breadth of our holdings will allow us to start this journey for D’ALBORA customers. 
He added that Balmain Corporation will set up concierge/valet services, food and beverage and upgrade amenities at its marinas.
Building upon their maritime expertise over the past decade, Balmain anticipates a smooth transition for D’ALBORA’s staff, customers, tenants and suppliers.
Brett Bolton will remain as CEO of D’ALBORA.
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Balmain Corporation completes acquisition of d'Albora Marinas 

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Former Frasers boss and veteran international property developer Dr Stanley Quek, has quietly bought a landmark row of commercial terraces in Potts Point for $18 million.
The <a href="https://www.realcommercial.com.au/property-offices-nsw-potts+point-502403498" target="_blank">Bayswater Road commercial site</a> is made up of four Victorian heritage terraces built in the late 1880s.
Quek, chairman and founder of Sydney based developer Greencliff, is a key figure in apartment developments across Australia as well as London and Singapore.
He was behind the Foster &amp; Partner designed Lumiere Residences in the Sydney CBD and the $2 billion Central Park mixed-use project in Sydney’s Chippendale.
The London-esque Bayswater Road strip came 100% leased to popular nightclub World Bar, an F45 training studio and a hair salon, but have probable residential or boutique hotel potential.
<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/2017/08/09/POTTS%20POINT%202.jpg" alt="">
Offering 32 metre frontage to Bayswater Road, the site area of 960 sqm across four freehold titles also offers boutique office accomodation.
It has possible residential terrace accomodation.
Knight Franks Richard Garland and Jonathan Vaughn were handling the recent resale marketing in conjunction with LJ Hooker Commercial agent Daniel O'Brien.
<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/2017/08/09/POTTS%20POINT%203.jpg" alt="">
It last traded for $12 million in 2015 when it was bought by a consortium including Eagle Property Group and hotel entrepreneur Paul Fischmann. 
Fischman is the founder and chief executive of 8Hotels.
Dr Quek held senior positions across Frasers Property Australia, Frasers Property UK and region development.
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Greencliff's Stanley Quek buys Potts Point commercial terraces

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Wealth management group Fat Prophets is set to launch a listed investment fund with a global focus on real estate investment trusts around the world in a bid to diversify from the local sharemarket, which has dropped 9 percent over the past month.
The group, which has offices in Sydney, London and Auckland, seeks to raise up to $220 million, according to The Australian.
The S&amp;P/ASX 200 A-REIT index has taken a 9 percent hit in the past month as investors fret about a property market slowdown and the negative commentary around it, besides weak wages growth in retail and the looming entry of Amazon.
Fat Prophets said it would allow Australian investors access to global REITs, which would otherwise require direct investing in international markets or unlisted funds.
“This new fund provides Australian investors the opportunity to diversify their equity holdings in REITs outside of Australia,” Fat Prophets chief executive Angus Geddes was quoted as saying by The Australian.
“They can now have an interest in the entities that own, manage and develop some of the most iconic assets around the world.”
The portfolio will be managed by Simon Wheatley, a real estate veteran with more than two decades of experience in listed real estate.
Fat Prophets said the fund could help investors reduce volatility in their portfolio. 
The LIC structure would likely provide more liquidity than a direct real estate investment, with much lower entry and exit costs, they said. 
The fund will be actively managed, typically holding 70 to 90 securities, with the ability to hold up to 15 percent in cash.
Units are on offer for $1.10 each, with the offer closing on September 1 and units to start trading on the ASX on September 13.
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Fat Prophets floats REIT-focussed listed fund

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The former Armadale Theatre building in High Street, Armadale has sold for $10 million to a Melbourne investor after a marketing campaign that saw 10 plus offers.
The property, 926-930 High Street, adjoins Armadale train station.
It totals 1,400 sqm space.
It last traded in 2012 for $5.06 million. Previously, the building was occupied by art dealer Sotheby’s. 
CBRE’s Retail Strip Investments team comprising Josh Rutman, Rorey James and Lewis Tong negotiated the sale. The property was listed in June.
Rutman said the international marketing campaign appealed to a mix of local and offshore investors.
They were attracted to the long-term lease, location and confidence in the Mossgreen business.
James said the significant capital appreciation - almost $5 million in less than 5 years - in such a short period of time highlighted the lack of blue chip investment properties available in the Melbourne market.
“This lack of supply coupled with low interest rates has driven yields down to their strongest levels in decades, particularly with the Melbourne strip retail investment market,” he said.
 
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Former Armadale Theatre building sold with Mossgreen tenancy

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GUEST OBSERVER
After showing some tentative signs of lifting, non-mining business investment has dropped back again as a share of GDP.
The capex survey and non-residential approvals data signal only a modest lift non-mining investment this year.
However there are some more positive signs for business investment.
These include high levels of business conditions and confidence, rising capacity utilisation and a lift in company profits.
The strong pipeline of infrastructure spending and the revival in the manufacturing sector are also supportive of stronger investment. 
Non-mining business investment remains the missing ingredient in the successful transition from mining to non-mining led growth. A pick up in non-mining business investment would be a welcome driver of growth in the short-term. It also boosts productivity in the medium to long-term, which is essential for maintaining growth in the face of an ageing population and a potentially slower population growth rate. 
<a href="https://www.propertyobserver.com.au/images/2017/06/19/Screen%20Shot%202017-06-19%20at%201.07.23%20PM.png" target="_blank">Click to enlarge</a>
<img src="https://www.urban.com.au/images/2017/06/19/Screen%20Shot%202017-06-19%20at%201.07.23%20PM.png" alt="">
Mining sector investment seems to have stabilised for now. However non-mining business investment is yet to show a meaningful lift. In fact, as a share of GDP, 8 non-mining business investment has fallen back close to the recent lows in late 2013. This is despite record low interest rates and a relatively stable, and lower, Australian dollar.
In the past we have discussed some of the reasons for weak non- mining business investment (see here). These included unrealistic hurdle rates and slower growth in consumer spending which has dampened business’ expectations of future demand. Many of these factors are still relevant. 
In this note, we take a fresh look at what the forward indicators of business investment are telling us. We find that the “hard” data such as non-residential approvals and capex spending intentions point to only a very modest increase in business investment in the year ahead. However the background conditions for business investment have improved. In particular there has been a strong lift in business conditions and confidence and a lift in capacity utilisation. Other positives for business investment include the revival in the manufacturing sector.
<a href="https://www.propertyobserver.com.au/images/2017/06/19/Screen%20Shot%202017-06-19%20at%201.08.38%20PM.png" target="_blank">Click to enlarge</a>
<img src="https://www.urban.com.au/images/2017/06/19/Screen%20Shot%202017-06-19%20at%201.08.38%20PM.png" alt="">
And also 208 the big lift in public infrastructure spending underway. The note concludes with our outlook for non-mining business investment in the years ahead. 
Non-residential building approvals: Non-residential building is one component of business investment. The approvals data tells us the amount of building activity that is likely to enter the pipeline. This data suggests that there should be some pick-up in non-residential building activity this year due to a large spike in approvals in September 2016.
The lift in approvals was in the retail, entertainment, recreation &amp; accommodation, and office sectors. However since the spike, approvals have been running broadly in line with their average of recent years. So we need to see a further pick up in the approvals data in order to see this component of business investment lift meaningfully.
Capex survey: The ABS capital expenditure survey includes business’ estimates of new capital expenditure. And the results are not encouraging. Early estimates for spending plans can vary significantly from actual spending. However at this stage, based on the historical relationship between estimates and actual spending, it looks as if non-mining capex spending for the 2017/18 financial year will be similar to 2016/17 (see here). 
However it is possible that these estimates could be revised sharply upwards (or downwards) if the economic landscape changes. Another caveat is that the capex survey also excludes some sectors including health, education and agriculture. Investment in health and education tends to be structural rather than cyclical and demographic factors suggest that it should remain firm.
Business conditions and confidence: Survey measures of business conditions and confidence have generally been on an upward trend for several years now. Business conditions are at their highest level since the GFC. Business confidence is the highest since 2010. Both are well above long run averages
Business conditions are buoyant for most industries, with the exception of retail and more recently construction. Conditions are have improved in most States. The exception is the mining State of WA where conditions remain very weak.  
Capacity utilisation: Capacity utilisation is rising. However it is important to consider in which industries it is rising as some businesses are more capital intensive than others. Research from the RBA finds that goods-related industries plus transport tend to be more capital intensive than services-related industries. So high levels of capital utilisation in the goods plus transport industries are more likely to result in additions to capital stock. Whereas for services industries, high capacity utilisation more often prompts additional labour hire.
Capacity utilisation has trended higher in recent years for these more capital intensive industries and is now around its long run average. This has historically been consistent with a higher level of non-mining business investment than is the case now.
The capital stock has also aged which provides further impetus for new investment. However while business hurdle rates are still high we may need to see capacity utilisation rise to high levels before businesses are willing to investment in more capital. 
Return on investment/Tobin’s Q: In addition to demand conditions, the expected rate of return on investment is also an important determinant for business investment. On that score there appears to be plenty of scope to increase non-mining business investment.
The rate of return on the non-mining capital stock is running around 12% and well above most business borrowing rates. However unrealistic hurdle rates are preventing businesses from undertaking some profitable investments.
Also, according to Tobin’s Q theory of investment, growth in non-mining business investment should also be higher than current rates. Tobin’s Q measures the market value of capital relative to its book value. A ratio greater than one suggests that companies should invest more in capital because it is valued more than its replacement cost. Tobin’s Q is hard to measure in practice. But our proxy shows the Q ratio has been on an upward trend since early 2009 and is now well above one.
<a href="https://www.propertyobserver.com.au/images/2017/06/19/Screen%20Shot%202017-06-19%20at%201.09.29%20PM.png" target="_blank">Click to enlarge</a>
<img src="https://www.urban.com.au/images/2017/06/19/Screen%20Shot%202017-06-19%20at%201.09.29%20PM.png" alt="">
Revival in the manufacturing sector: There is somewhat of a revival going on in the manufacturing sector (see here). Employment in manufacturing has picked up. Exports have risen too and are not too far below their pre-GFC levels.
A lower and relatively stable Australian dollar in recent years has helped. RBA research shows that a 10% depreciation in the real exchange rate will boost manufacturing exports by more than 15% three years later. The lift in infrastructure spending has also contributed, lifting demand for building materials, metals and transport equipment.
These stronger conditions have seen manufacturing capital expenditure lift 12% over the two quarters to Q1 2017. Although according to the capex survey estimates of future capex spending are still subdued. They imply roughly a 5% fall in capex spending for 2017/18 compared to 2016/17. But given the lift in conditions in the manufacturing sector we may see an upgrade to intentions as the year goes on. 
Positive rural conditions are also pulling out more agricultural capital expenditure. Farm capex spending has picked up with annual growth running at around 13%.
Consumer spending: Current household spending patterns and the outlook for future spending are also important factors to consider when thinking about future business investment. Firms in the RBA’s liaison program have indicated that they are reluctant to commit to a substantial increase in investment until they see a sustained pick up in sales.
Consumer spending growth has been slower on average than before the financial crisis. However spending growth has run ahead of income growth as households have cut their savings ratio. Household debt levels are elevated which means household may be reluctant to cut savings further. We think that we will need to see further improvement in the labour market, particularly a fall in the unemployment and underemployment rates, or a lift in wages growth, to lift growth in spending.
Public infrastructure spending: Increased public infrastructure spending can “crowd in” private business investment. For example, new transport infrastructure can make previously undesirable land, more desirable. This attracts new spending on dwelling construction, which in turn attracts businesses to set up in the these new areas. Private sector businesses also provide inputs into the building of infrastructure so stronger demand can enable these businesses to expand.
Australia is about to go through an infrastructure boom. The State governments have ramped up infrastructure spending. In particular there are many large transport infrastructure projects underway in NSW and Victoria. The Federal government is also planning on a large infrastructure spend. The latest Budget includes $75 billion in transport spending over the next ten years.
<a href="https://www.propertyobserver.com.au/images/2017/06/19/Screen%20Shot%202017-06-19%20at%201.10.29%20PM.png" target="_blank">Click to enlarge</a>
<img src="https://www.urban.com.au/images/2017/06/19/Screen%20Shot%202017-06-19%20at%201.10.29%20PM.png" alt="">
Studies by the IMF find that an increase in public infrastructure spending in advanced economies increases private business investment in both the short and long term.1 They find the effects are largest when spending occurs in periods of economic slack and easy monetary policy, when it is invested efficiently, that is where public spending is allocated to projects with high rates of return, and when spending in financed by debt rather than tax increases.
You could argue that Australia meets these conditions. Firstly, interest rates are at record lows and are likely to stay there for some time yet. There is also a degree of economic slack in the economy.
Over the year to Q1 the economy grew at just 1.7%, below our estimates of potential growth of around 23⁄4%. While we expect growth to lift to above potential in 2018, a decent share is coming from net exports due to the ramp up in commodity exports following the earlier surge in mining investment. Gross national expenditure, which excludes net exports, doesn’t look quite as strong.
Secondly, in the 2017/18 Budget the Federal government has committed to provide funding for four of the seven projects considered to be “high priority” by Infrastructure Australia. A further three projects on the “priority” list will also receive some funding. And thirdly, these projects will be funded by debt with the Budget not expected to return to surplus until 2020/21.
Sources of funding: Business lending remains soft. Commercial lending growth is in negative territory. Business credit growth is showing a similar lacklustre picture, with soft monthly growth rates since early 2016. Over the year business credit is up just 3.1%. Weak lending is consistent with lacklustre investment.
Another way companies can fund new capital expenditure is by using profits. After five years of lacklustre growth, non-mining profits have begun to lift and are around 17% higher over the year to the March quarter. The lift in profits has been broad based with seven out of nine non-mining categories posting an increase in profits over the year. Mining sector profits have also surged which has positive flow-on effects for industries that service the mining sector.
So what’s the outlook for non-mining business investment?
At this stage we are expecting only a very modest lift in non-mining business investment over the remainder of 2017. This is consistent with the capex survey of business’ intentions and relatively subdued non-residential approvals data. Weak business lending data also points to subdued investment ahead.
However the background conditions for investment are improving. Business conditions and confidence are high and business balance sheets have improved due to stronger profits. Capacity utilisation has lifted and the capital stock has aged.
Other positives for business investment are improving conditions in the manufacturing sector. The strong pipeline of infrastructure spending may also work to “crowd in” business investment. One significant hand brake on stronger capex spending is the fact that business hurdle rates are high given the low interest rate/low yield environment we are in. As a result we have a moderate pick up in non-mining investment in 2018 in our forecasts. 
Kristina Clifton is economist and financial market analyst for CBA and can be contacted <a href="https://www.commbank.com.au" target="_blank">here</a>.
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jchancellor-FAypfDUnLy

The outlook for non-mining business investment

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Investing in commercial property is alluring, especially when you see advertisements on websites or at auctions of properties that yield 6-8 percent or even more.
Especially at a time when yields on residential properties are hovering at 3-4 percent or lower.
But beware of the traps; with a potentially higher reward come greater risks which is usually in the form of higher vacancy rates.
Commercial property can usually be classified into retail, industrial or office. Each has its pros and cons, but no matter what type, some rules apply to all or most.
According to Angus Raine, executive chairman of the Raine &amp; Horne Group, commercial property is a natural investment 'stepping stone' from residential property and a great way to diversify one’s portfolio, create tax benefits and build wealth.
"It's a more sophisticated form of investing," he was cited as saying by the Australian Financial Review. 
"However like any asset class, there are risks.
"So aspiring investors should take the time to do plenty of research, seek advice from experts and understand the pros and cons."
The first step to investing in commercial property is to take stock of the risks.
First, finding a new lessee can take time. It’s no good buying a vacant office space at a bargain when you can’t find a tenant for months.
Once a tenant moves out, it can take months or even more than a year to find a new one. On the other hand, finding a tenant for an apartment you want to rent out is generally a matter of weeks.
If the sole tenant of your property has to close due to financial problems, it could mean tough times for you. 
If you want to avoid those traps, Fred Nucara, director at Melbourne-based agent, Beller Commercial, has some advice. 
Investors would do well to position their property differently in the market, he told Fairfax Media.
"You might offer the first month of every year after they renew rent-free or offer them $5000 to help them set up their business," he suggested.
He also suggested to ramp up the property’s presence on the internet so it appears high on searches. That way, one can get a good number of enquiries.
Putting up ads in publications that will attract suitable tenants, such as cafe premises in Epicure magazine or a medical facility in a medical journal. 
He has a word of advice for first-time commercial property investors who buy into a vacant property. 
"I would not recommend it to first-time investors," he adds.
"We advise our clients to get something that is leased, that has cash flow so you can get a sense of the temperament of the tenant over time and their ability to pay the rent.
"That way an investor can develop confidence and understanding about the sector."
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