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 Investment

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Melbourne’s industrial and logistics market emerged as one of Australia’s most attractive asset classes, as reflected from the 50 basis point tightening in industrial yields in the last 12 months, says new research. 
Commercial real estate firm CBRE’s 2016 Q1 Industrial MarketView revealed a steady flow of offshore interest in the Victorian capital in 2015, with expectations for the momentum to continue in the year ahead.
After a strong last quarter, which saw $765.7 million in industrial property change hands, sales in the first three months of 2016 fell significantly, with only $87.2 million transacting over the period, albeit considerably more currently in due diligence. 
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CBRE regional director, Industrial &amp; Logistics, Chris O’Brien said this was due to a shift in investment sentiment in 2016, with buyers moving up the risk curve to seek more attractive returns. 
“2015 saw a significant flow of new offshore entrants to the market, looking to inject capital into low risk assets, such as real estate,” O’Brien said.  
“However, the first quarter of 2016 has seen a change in sentiment, whereby investors are seeking opportunities higher up the risk curve - reflecting higher yields through property fundamentals, leasing risk and value add opportunities, which bodes well for domestic players”.
Notwithstanding banks’ tightening lending criteria, a low Australian dollar and favourable cash rate, Melbourne’s industrial &amp; logistics sector will remain a sought after market on a global scale, with the higher comparative yields on offer strengthening its appeal, according to the report. 
Following a six-year high for industrial supply in Melbourne during Q4, a smaller pipeline is expected in 2016 to reduce the risk of oversupply. 
Across Victoria, nearly 125,000 sqm was forecast for completion during the first quarter of 2016, with the western and south eastern precincts seeing the largest volumes of supply. 
The lower supply pipeline (55 percent lower than 2015) is also expected to encourage rent growth in the medium to long term. 
Major developments completed in Q1 include a 25,650sqm warehouse facility for Kathmandu in Truganina and a 25,000sqm warehouse in Merrifield.
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Melbourne's industrial market to remain in investor spotlight after strong 2015: CBRE 

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Construction continues to be the mainstay of China’s economy -- flowing through to heavy industries such as steel and cement -- but the rebound is not sustainable, according to NAB's latest commentary on the country's growth outlook.
The NAB Group Economics report titled China’s economy at a glance, says new construction starts rose by 16 percent year-on-year (yoy) over the first five months of the year – with lower growth in May than March and April. But May's slower growth was largely due to base effects.
NAB says the construction rebound is not sustainable, with recovery in house prices largely driven by policy relaxation, loose credit and the poor performance of alternative investment options for individuals – re-inflating the property bubble that had previously deflated to a degree across 2014 and 2015.
Among other economic factors, growth in industrial production was unchanged in May at 6 percent yoy – in line with market expectations.
Fixed asset investment was softer in May, with trends mixed at a sub-sector level – with an acceleration in real estate investment, while investment in manufacturing continued to trend lower.
China’s trade surplus widened in May to US$50 billion (from US$45.6 billion previously) due to a month-on-month increase in exports. Price effects continue to influence trade values – with commodity imports increasing strongly in May – particularly construction related iron ore and copper.
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Construction still drives China’s growth but sustainability concerns remain: NAB

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Commercial properties in NSW’s Port Macquarie are attracting self-managed super funds (SMSF) because of the Mid North Coast’s affordability and healthy yields.
“It’s a bit like Sydney in towns such as Port Macquarie, with SMSFs driving the sales of quality investment assets,” said Graeme Garrett, co-principal of Raine &amp; Horne Commercial Port Macquarie. 
SMSFs leasing a commercial property back to a related business is becoming a common trend in the sub-$500,000 market in Port Macquarie, added Garrett.
Several small business owners too are buying properties through SMSFs and then leasing them back to the business, which the current superannuation laws allow, he said.
In many cases, professionals such as accountants, lawyers, engineers, architects and real estate agents are buying commercial properties through a related DIY fund. Properties around the range $400,000-$500,000 are in particularly in demand.
“The trouble is that there’s a shortage of industrial stock in this price range to meet demand,” said Garrett.
Investors operating outside a super fund are also active in the Port Macquarie market because of the low interest rates and the fact that commercial properties are viewed as an investment safe haven, he added.
“Sydney investors seeking solid yields are also starting to make their presence felt in Port Macquarie.”
Yields for industrial stock priced below $500,000 range from 8%, while it’s 6.75-7% for retail and 8% for office space, according to Raine &amp; Horne Commercial Port Macquarie. 
“We auctioned a retail property to a Sydney investor, who purchased it through a self-managed super fund, and who intends on retiring to Port Macquarie down the track,” said Garrett. The property located at 5/56 Clarence Street, Port Macquarie sold under the hammer for $622,500.
Garrett said members of SMSFs would be best served considering a commercial asset that will appeal to future tenants.
“If you occupy it yourself now and then retire, you need to consider what appeal that property will have to future tenants and whether it will be easily let out if it’s part of your future retirement plans.
“Our proximity to Sydney and Newcastle is attracting investors from those cities through a combination of our healthy yields and commercial real estate affordability. 
“When you can buy two or three assets in Port Macquarie for the equivalent of a single-tenant property in Sydney, investors see this as value.”
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DIY super funds driving Port Macquarie commercial markets: Raine & Horne

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A private investor has fought off strong competition to secure a Carlton retail property for $3.96 million at auction. 
With a crowd of more than 200 people, the bidding started at $2.4 million before selling to a local buyer for a land rate of close to $30,000 per sqm.
The auction was held onsite as 265 Lygon Street was sold with a six year lease, providing an annual income of $148,567 and a 3.3 percent yield.
The freehold property, which sold for $1 million over the reserve, comprises a highly exposed building with prominent frontage to Lygon Street, as well as rear laneway access. 
CBRE’s Rorey James said the property was keenly sought after, attracting a total of 85 bids on the day. 
“The strong level of interest seen in this property is an indicator that core retail property will always be in demand, from both an international and domestic perspective,” Mr James said. 
“Furthermore, the recent interest rate drop to 1.75 percent is fuelling more interest from investors looking to inject capital into real estate.” 
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Carlton retail property sells $1 million above reserve

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Sales in Sydney CBD strata offices are being drive by record low interest rates, limited supply and strong demand for investors and owner-occupiers.
Ray White Commercial agent Anthony Harris said that there is now strong demand from tenants looking to buy as they are being forced to move due to the Sydney Metro Project, which will require compulsory acquisition of 19 commercial buildings.
“I think we will see some occupiers having to get out of the CBD to locate their business due to the shortage of supply,” he said. 
“On the leasing side we are seeing multiple tenants compete for space and in some cases tenant advocates offering to pay higher than the advertised rental in an effort to secure properties for their clients.”
Anthony completed two sales in a York Street building for $8.35 million, and one of them was on the first day of market.
The whole 541 sqm office space at level 2/33 York Street sold for $4.25 million on behalf of a private syndicate to an owner occupier who will use it as a medical business.
“The office comes with four car spaces and the sale price represents a rate of just over $7,100 per sqm, assuming a value of $100,000 per car space,” Harris said.
The other 545 sqm office on level six of the same building sold for $4.1 million to the Egyptian Consulate on behalf of Century 21 Australia chairman Charles Tarbey.
“This office comes with three car spaces, representing a rate of around $7,000 per sqm and $100,000 per car space,” Harris said.
 
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Sydney metro project causing Sydney CBD office strata sales surge

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A corner site comprising a two-story building in Melbourne's Hawthorn has fetched $4.95 million, following a marketing campaign that attracted more than 80 enquiries.
The selling price on the property at 262 Burwood Road reflected a yield of 4.4%. 
The property was sold on a land rate of $11,250 per sqm, which contrasts with a recent sale of the Captain Snooze site opposite at 283-285 Burwood Road which sold at a land rate of $6,400 per sqm.
Fitzroys agents Michael Ryan and Michael Donovan handled the expressions of interest campaign for 262 Burwood Road.
The 440 sqm corner site comprises a two-story building plus basement, which provides office accommodation on the part ground and first floor levels.
Zoned Commercial 1, the freehold investment property was sold with a 10-year lease -- expiring in 2020 -- to information technology services company Dimension Data subsidiary Oakton Limited, returning $217,757 plus outgoings and GST. 
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Ryan said a local private investor beat other local and offshore investors.
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Office building site in Melbourne's Hawthorn fetches $4.95 million

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A corner site in Melbourne's Prahran is up for sale by expressions of interest closing April 20 and is expected to fetch more than $9 million.
The 10-16 Cecil Place property is close to the popular retail and entertainment precinct of Chapel Street.
The 1,271 square metre site comprises two self-contained office buildings: 10 Cecil Place – a two-storey office building of 881 square meres with 20 car spaces, and 12-16 Cecil Place – another two-storey office building of 459 square metres with 11 car spaces.
The buildings are securely leased to four tenants at a combined net rental of nearly $365,000 per annum.
The property is zoned Commercial 1 and is being sold through Teska Carson agents Michael Taylor and Michael Ludski, along with Marshall White Project’s Leonard Teplin.
"The property presents a significant acquisition opportunity of the highest calibre in one of Melbourne’s most sought after suburbs, suitable for development in the short term or land banking given the significant improvements and further income potential," Taylor said.
There is a development scheme for 104 units in place. 
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Corner site in Melbourne's Prahran expects to net $9 million plus

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Over the week ending 25 March 2016, a total of 51 commercial auction results were reported with just under half (49 per cent) selling, according to CoreLogic RP Data.
Over the previous week, both auction volumes and auction clearance rates were higher, with 58 auctions held and a clearance rate of 55.2 per cent. At the same time last year, 103 auctions were recorded and 61.2 per cent were successful.
Over the four-week period ending 25 March, 207 commercial auctions have been reported with 108 sales. Of the 108 sales, 73 have been reported with a price and the total value of these transactions was just over $122.52 million.
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Commercial auction volumes and clearance rates improving: CoreLogic RP Data

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The latest research from Melbourne Cityscope shows that commercial property sales have decreased in the past three months. 
Sales recorded in the quarter ending March 2016 totalled $800.9 million, a decrease from the $935.1 million in sales recorded in the three months to December 2015 and significantly lower from the $3.525 billion recorded in the three months to September 2015. 
This data brings the 12-month total to $6.108 billion from 323 sales, an increase compared with the previous 12-month total of $2.757 billion from 351 sales.
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The table below shows sales recorded for the past eight updates of Melbourne Cityscope.
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The most notable sales recorded for the March 2016 update of Melbourne Cityscope include:
<ul>
<li>The acquisition of the remaining 43 per cent interest by AMP Capital WOF of Bourke Place consisting of properties at 600 Bourke Street, a 55 level development on a 6,548 sqm site providing 65,427 sqm net lettable area, Bourke Place Studio at 577 Little Bourke Street, a six storey brick office building with a net lettable area of 2,362 sqm, 188-194 King Street, 184 King Street, a four storey office building and a paved vacant land at former Bourke Place for approximately $243 million through a deal brokered by Savills;</li>
</ul>
<ul>
<li>A 50 per cent acquisition of SX2 Tower also known as Southern Cross West Tower at 111-129 Bourke Street by Southern Cross West Investment TC Pty Ltd for $218 million in a deal brokered by CBRE and Colliers International;</li>
</ul>
<ul>
<li>One Collins Street, consisting of several linked new and refurbished buildings ranging up to 17 storeys and is connected by a covered overhead walkway with property at 12-20 Flinders Lane, a 10 storey building with car parking on levels 1, 2 and 3 and offices on upper levels, were bought together for $125 million in a deal brokered by Knight Frank.</li>
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Properties for sale in the area covered by Melbourne Cityscope in March 2016 include: 
<ul>
<li>320-326 Queen Street a three storey Victorian rendered brick building occupied and owned by The Celtic Club and property at 316-318 Queen Street, a five-level brick and concrete office building including a basement with a combined site area of 676 sqm, are for sale and or as a redevelopment by international public tender closing May 6, 2016 through CBRE;</li>
</ul>
<ul>
<li>The Metropolitan on William Hotel at 263-267 William Street, a two storey older brick hotel building is for sale by auction on April 8, 2016 through CBRE and Killen Thomas. This property was last sold for $565,000 in 1993;</li>
</ul>
<ul>
<li>185-187 Lonsdale Street, a three storey brick building is for sale with an asking price of $9.9 million through Savills and Burgess Rawson; and</li>
</ul>
<ul>
<li>51 Queen Street, an office building of 11 storeys plus mezzanine and basement, for sale through expressions of interest closing April 7, 2016 through Colliers International. This property was last sold for $16.388 million in 2012.</li>
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<a href="/images/2016/04/11/Screen%20Shot%202016-04-11%20at%2012.40.29%20PM.png" target="_blank">Click to enlarge</a>
<img src="/images/2016/04/11/Screen%20Shot%202016-04-11%20at%2012.40.29%20PM.png" alt="" width="568" height="327" style="font-size: 12.16px; line-height: 1.3em;">
Leasing opportunities in the area covered by Melbourne Cityscope in March 2016 include: 
<ul>
<li>485 La Trobe Street, two office towers linked by a six storey glass atrium and lobby with a total net lettable area of 33,639 sqm has office space ranging from 1,334 sqm to 7,317 sqm for lease through Savills and JLL Melbourne;</li>
</ul>
<ul>
<li>Melbourne Chambers, an 11 storey office building at 235 Queen Street with a net lettable office area of 3,533 sqm, has naming rights and areas ranging from 300 sqm to 3,621 sqm for lease through Colliers International and MP Burke Commercial;</li>
</ul>
<ul>
<li>Collins Place consisting of Collins Tower of 51 storeys at 35 Collins Street and the ANZ Tower at 55 Collins Street of 47 storeys has office floor area ranging from 1,689 sqm to 3,393 sqm for lease through Colliers International; and</li>
</ul>
<ul>
<li>KTS at 350 Queen Street, a 21 storey building consisting of an octagonal office tower above five levels of car parking with a net lettable area of 22,411 sqm, has office space ranging from 300 sqm to 9,000 sqm for lease through CBRE and Savills.</li>
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Melbourne commercial property sales fell in the last three months: CoreLogic RP Data Cityscope

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A prominent five-level building overlooking Hindmarsh Square in Adelaide CBD is up for sale through expressions of interest and is expected to attract interest from a wide range of buyers, according to marketing agents Colliers International and JLL.
The building at 132 Grenfell Street has been refurbished. 
Colliers International’s Alistair Mackie and JLL’s Jamie Guerra are marketing the property on behalf of Primewest.
“This five-level CBD building provides an ultra-modern workplace behind a historic façade,” Mackie said. 
The office and retail building is 100% leased, with anchor tenant Bradford College occupying around 68% of the building as its Adelaide headquarters.
Bradford College is part of the Kaplan group and has more than five years remaining on its lease.
The diversified tenancy mix includes popular restaurateurs and returns an estimated fully leased net income of around $1,106,000 per annum.
The 3,155sqm (approx.) building sits on a virtual 985 sqm island site, said Guerra.
“The building overlooks Hindmarsh Square and has a prestigious Grenfell Street address,” he said. “Positioned on the bustling ‘people’s square’, amongst new developments including office buildings, two hotels and high end residential apartments, this is a premium Adelaide address.
The EOI campaign closes on May 12.
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