The first partnership between national developer <a href="https://www.apartments.com.au/developers/fortis">Fortis</a> and Adelaide-based developer <a href="https://www.apartments.com.au/developers/otello">Otello</a> has made a strong start, with the pair securing $21 million in unconditional sales at <a href="https://www.apartments.com.au/new-apartments/one-four-four-hutt-adelaide-144-hutt-street-adelaide-sa-5000">One Four Four Hutt</a>&nbsp;on the edge of the Adelaide CBD.

Over a third of apartments have been snapped up in the boutique 44-apartment project on the corner of Hutt Stret and Wakefield Road. Local downsizers and owner-occupiers wanting to remain in Adelaide's tightly-held southeast quarter have been the most prominent purchasers.

The DKO-designed, mixed-use development is one of the few new apartment projects in the precinct, an area where new housing supply has remained limited despite continued demand from buyers wanting to stay close to the CBD, Victoria Park and Adelaide's established east-end amenities.

[smartcode_project:default project_id=151233 project_image_fid=375378]

Fortis Head of Development SA Arthur Dendrinos said the early sales reflected both the strength of the local owner-occupier market and confidence in the Hutt Street location.

"The level of early commitment reflects the confidence local buyers have in the Hutt Street precinct," Dendrinos said.

"Many purchasers are long-term east-end residents who love the area and want to stay connected to the neighbourhood. They recognise the value of a well-designed, well-located development.

"Our partnership with Otello has been central to this success, and the number of unconditional sales at this stage only strengthens our confidence in the South Australian market."

&nbsp;

[smartcode_project:default project_id=151233 project_image_fid=375379]

Otello Director Daniel Harris said the sales result also highlighted the lack of new apartment opportunities within the Hutt Street precinct.

"One Four Four Hutt has clearly resonated with buyers, with strong early sales reflecting both the appeal of the Hutt Street corridor and the lifestyle on offer," Harris said.

"The activated ground-floor retail has also been a key drawcard, with purchasers responding to the vision of a more vibrant and connected streetscape, not just the residences themselves."

One Four Four Hutt will deliver 44 one, two and three-bedroom apartments, alongside a collection of penthouses, above a ground-floor retail offering designed to further activate the Hutt Street precinct.

Construction is scheduled to commence in the third quarter of this year, with completion anticipated in 2028.

[smartcode_project_cta:default project_id=151233]

Fortis Head of Development SA Arthur Dendrinos said the early sales reflected both the strength of the local owner-occupier market and confidence in the Hutt Street location.

Joel Robinson

Fortis makes Adelaide debut with Otello as One Four Four Hutt records strong early sales

For all its prestige, Roseville hasn't seen many new apartment developments that genuinely cater to the suburb's owner-occupier market.

Most new projects on Sydney's North Shore have focused on increasing supply, but Aqualand Prestige's <a href="https://www.apartments.com.au/new-apartments/boronia-by-aqualand-roseville-2-4-larkin-street-roseville-nsw-2069">Boronia</a> is taking a different approach.

The 111-apartment project on Larkin Street has been designed around a buyer who already knows the area, whether they're downsizing from a nearby family home, upgrading from an older apartment, or moving into the suburb to be closer to schools and transport.

[smartcode_project:default project_id=152095 project_image_fid=372391]

Boronia is the first project from Aqualand Prestige, the boutique residential division of Aqualand, the developer behind projects including AURA in North Sydney and Blue at Lavender Bay. The project is being delivered in partnership with Phoenix Property Investors.

Rather than trying to maximise density, the focus has been on creating apartments that feel much closer to a house. There's a strong weighting towards larger three-bedroom residences, alongside a limited collection of four-bedroom duplex-style sky homes, a product that's rarely delivered in apartment projects on the Upper North Shore.

[smartcode_project:default project_id=152095 project_image_fid=373694]

Architecture firm Woods Bagot has designed the building to sit within Roseville's established tree canopy rather than dominate it. The building steps down the site with deep balconies, generous setbacks and a material palette of masonry and natural stone that reflects the suburb's established character.

"The forms float among the canopies along the Larkin Street ridge to maximise the outlook across the green sea of the treetops," Woods Bagot Principal Jason Fraser said.

"The architecture is deliberately simple and understated, so that the detail, the craftsmanship and, above all, the landscape can be the hero."

[smartcode_project:default project_id=152095 project_image_fid=373685]

The same approach continues inside.

Interiors by COX take inspiration from the surrounding bushland of Lane Cove National Park, using natural stone, timber and handcrafted finishes throughout the residences. Kitchens feature Gaggenau and Bosch appliances, while the penthouse collection includes upgraded stone finishes and bespoke detailing.

"We wanted the homes to feel like an urban retreat, where the boundary between inside and out simply dissolves," COX Director Brooke Lloyd said.

Landscape architecture by Ground iNK extends that connection outdoors, with mature tree planting, deep soil landscaping and retained established street trees helping the development blend into one of Sydney's leafiest suburbs.

Residents will also have access to landscaped communal gardens, a wellness centre and outdoor spaces designed more as an extension of their own homes than traditional apartment amenities.

[smartcode_project:default project_id=152095 project_image_fid=373687]

The location is another reason Aqualand Prestige believes Boronia will resonate with buyers.

Roseville Station is around a five-minute walk away, placing Chatswood just one stop down the line, while the Sydney CBD remains within easy commuting distance. The suburb also sits within the NSW Government's Transport Oriented Development precinct, where planning changes are encouraging more housing around existing rail infrastructure.

Despite those planning reforms, opportunities to secure a new apartment in Roseville remain relatively limited, particularly developments aimed at owner-occupiers rather than investors.

Aqualand Prestige Executive Director Wayne Xiong said Boronia was designed for buyers intending to stay for the long term.

"These are homes built for decades of living rather than for the moment," Xiong said.

"Whether buyers are downsizing, raising a family or simply seeking more space, they're choosing the scale and craftsmanship of a fine house in a suburb they love, with the ease and connectivity modern life calls for."

Boronia's two-bedroom apartments are priced from $1.79 million, three-bedrooms from $2.49 million, penthouses from $2.85 million, and four-bedroom duplex-style Sky Homes from $4.5 million.

[smartcode_project_cta:default project_id=152095]

Aqualand Prestige launches Boronia to undersupplied Roseville apartment market

For most new apartment buildings, the Owners Corporation starts life with little more than a bank account and the first quarterly strata levies.

At <a href="https://www.apartments.com.au/buildings/9-gay-street-castle-hill-9-gay-street-castle-hill-nsw-2154">9 Gay Street</a> in <a href="https://www.apartments.com.au/developments/castle-hill-nsw-2154">Castle Hill</a>, it starts with around $7 million in reserve.

It's an unusual legacy of what was once one of Sydney's highest-profile apartment remediation projects. When the development, originally known as Skyview and built by disgraced developer Top Place, came under scrutiny by then NSW Building Commissioner David Chandler, an $11 million remediation bond was negotiated to ensure any building defects could be fully rectified.

The building underwent an 18-month remediation program, during which around $4 million of that bond was spent bringing the building up to the standard it should have been in from the outset.

After extensive inspections, all active rectification orders have been lifted. What's more, around $7.2 million remains secured for the Owners Corporation for the next 15 years.

In a twist few would have predicted, what began as a significant concern for purchasers has left the building with something almost unheard of in the apartment market: a multi-million-dollar financial reserve from day one.

[smartcode_project:default project_id=147685 project_image_fid=359136]

<a href="https://www.apartments.com.au/project-marketer/equitifund-group">Equitifund</a> Executive Chairman Greg Huxley said the structure offers buyers a level of certainty that is difficult to replicate.

"The $11 million bond established for the Skyview Castle Hill development represents exceptional value, providing genuine financial security for purchasers," Huxley said.

"Unlike a standard insurance policy, this bond consists of real funds held in trust for the Owners Corporation, offering a tangible layer of protection and added peace of mind."

The apartments themselves have been designed with a focus on practical, contemporary living. Interiors feature Smeg appliances, stone benchtops, tiled living areas, carpeted bedrooms, 2.7-metre ceilings, floor-to-ceiling glazing, and ducted heating and cooling throughout.

Residents also have access to a range of shared amenities, including two rooftop barbecue areas, a swimming pool, children's playgrounds, secure building access, storage cages, and visitor parking.

The location continues to be one of the project's strongest drawcards. Castle Hill Metro Station sits virtually on the doorstep, providing direct connections across Sydney's expanding Metro network, while Castle Towers offers extensive retail, dining, entertainment, and service amenities within walking distance.

[smartcode_project:default project_id=147685 project_image_fid=359127]

The building, now named after its location at 9 Gay Street, comprises a diverse mix of one-, two-, and three-bedroom apartments starting from just under $600,000.

Equitifund National Sales Director Ben Hamblett said demand in the Hills District continues to be driven by buyers seeking convenience and connectivity.

"Interest from both owner-occupiers and investors in Castle Hill remains exceptionally strong, with buyers consistently prioritising developments in close proximity to the Metro station and Castle Towers Shopping Centre," Hamblett said.

"There is a clear trend in the market, with purchasers seeking convenient access to transport and lifestyle amenities that support a seamless, low-maintenance way of living."

On top of the long-term protection afforded by the remaining $7.2 million bond, Equitifund is offering a limited-time stamp duty rebate on selected apartments.

Eligible purchasers can also secure finance options, including a 3.99 per cent two-year variable rate, loan-to-value ratios of up to 90 per cent, and interest-only lending options through EquitiCredit.

[smartcode_project_cta:default project_id=147685]

Why this Castle Hill apartment building starts with a $7 million advantage

For much of the past few years, conversations about Australia's property market have centred on the rapid growth seen in Sydney, Brisbane, Gold Coast, and Perth. <a href="https://www.apartments.com.au/developments/melbourne-vic-3004">Melbourne</a> has followed a different trajectory.

That relative underperformance is now encouraging some buyers to reassess the city, particularly those willing to look beyond short-term market movements and focus on quality property in established locations, along with the long-term growth prospects of a city expected to overtake Sydney as Australia’s most populous.

John Bekiaris, Research &amp; Market Insights at <a href="https://www.apartments.com.au/project-marketer/equitifund-group">Projects by Equitifund</a>, said Melbourne's current position is attracting increasingly sophisticated purchasers.

"Melbourne continues to present one of Australia's strongest long-term investment stories," Bekiaris says.

"While other capital cities have experienced stronger recent growth, that relative underperformance is exactly what's attracting sophisticated counter-cyclical investors."

[smartcode_project:default project_id=1979 project_image_fid=363268]

Equitifund isn't just commenting on Melbourne's property market, it's investing in it.

The Sydney-headquartered capital partner has taken over the remaining apartments at <a href="https://www.apartments.com.au/buildings/victoriana-melbourne-20-queens-road-melbourne-vic-3004">Victoriana</a>, the recently completed glass-encased development opposite Albert Park Lake in Melbourne's tightly held St Kilda Road precinct.

Designed by <a href="https://www.apartments.com.au/architects/rothelowman">Rothelowman</a> and built by <a href="https://www.apartments.com.au/builders/hickory">Hickory</a>, Victoriana places residents between one of Melbourne's most recognised parklands and the CBD, offering oversized two and three-bedroom apartments aimed at owner-occupiers seeking a genuine alternative to a traditional family home.

The development comprises 232 completed residences alongside a suite of resident amenities, including a 25-metre indoor swimming pool, gymnasium, landscaped entertaining areas, resident lounges, EV charging, secure basement parking and a concierge-style arrival experience.

[smartcode_project:default project_id=1979 project_image_fid=363229]

The apartments have been designed with owner-occupiers firmly in mind.&nbsp;Open-plan living and dining areas flow onto generous balconies framing views across Albert Park Lake, Fawkner Park, the Royal Botanic Gardens and the Melbourne skyline.

Kitchens feature Gaggenau appliances, stone benchtops and generous preparation space. Bedrooms include built-in robes, while bathrooms feature full-height textured tiling. Hardwood flooring and ducted air conditioning complete residences designed for long-term living.

Rothelowman's architecture takes its cues from the landscape opposite the site. Sweeping horizontal glazing references the movement of Albert Park Lake, while generous balconies and expansive glazing strengthen the connection between the apartments and the surrounding parklands. The result is a building designed to deliver the scale and amenity expected of luxury apartment living, while offering the larger floorplans increasingly sought by owner-occupiers.

[smartcode_project:default project_id=1979 project_image_fid=363284]

The location is one of Victoriana's defining characteristics. Positioned on Queens Road, residents are directly opposite Albert Park Lake and within easy reach of Fawkner Park, the Royal Botanic Gardens, South Melbourne, St Kilda Road and the CBD. With few comparable development opportunities remaining in the precinct, buyers are increasingly placing value on outlooks that are unlikely to be interrupted by future construction.

Greg Huxley, Founder of Equitifund, believes those qualities become even more valuable over time.

"Premium real estate has always rewarded buyers who take a long-term view," Huxley said.

"Victoriana represents the kind of asset that's increasingly difficult to recreate today, particularly in an established location like Queens Road."

He said rising construction costs are also changing the way buyers assess completed developments.

"When you combine an irreplaceable location with thoughtful architecture and premium finishes, you create something that becomes increasingly difficult to reproduce as construction costs continue to rise."

[smartcode_project:default project_id=1979 project_image_fid=363228]

According to National Sales Director Ben Hamblett, enquiry has been driven largely by Melbourne downsizers and buyers upgrading from smaller apartments.

"Interest in Victoriana continues to build, with strong buyer focus on the larger owner-occupier residences within the development," Hamblett says.

"Enquiry is increasingly driven by local buyers who recognise the rarity of what's on offer: park-facing apartments in an established neighbourhood where new development opportunities are becoming increasingly scarce. At Victoriana, the view is not just a feature; it's an appreciating asset in its own right."

He said interstate enquiry has also strengthened as buyers reassess Melbourne's position within the national property cycle.

"Melbourne currently stands as the most compelling entry point of any major Australian capital, and discerning buyers are beginning to recognise what those who move early always understand: the best opportunities are taken before the price rise confirms them."

[smartcode_project_cta:default project_id=1979]

Why now is the time to buy in Melbourne's premium apartment market

Developers and apartment buyers have a narrowing window of opportunity before Brisbane's Olympic infrastructure pipeline begins competing directly with residential construction, pushing up costs, tightening labour supply and making new projects increasingly difficult to deliver.

While Brisbane's apartment market continues to benefit from strong population growth and limited housing supply, industry research suggests the years leading up to 2027 could prove to be the most important period for developers looking to secure builders and buyers hoping to purchase before the next wave of price increases.

A new Colliers report, Brisbane 2032 Olympic and Paralympic Games: Creating Solutions, highlights the scale of the challenge. While thousands of new homes are planned across South East Queensland, the Brisbane Olympic Athletes Village alone will deliver more than 10,500 beds during the Games before being converted into around 1,750 to 2,000 apartments. Equivalent to almost two years of typical inner-city apartment supply, the project will also absorb a significant share of the construction workforce and building materials.

The broader construction pipeline paints an even clearer picture.

Construction Skills Queensland's Horizon 2032 report forecasts Queensland's annual construction pipeline will average $69 billion over the coming years before peaking at $75 billion in 2027-28. Demand for construction workers is expected to increase by 17 per cent to almost 150,000 people, with the industry facing an annual shortfall of around 19,000 workers that could blow out to as many as 35,000 during the peak construction period.

The Olympic venues, athletes village and supporting infrastructure will account for billions of dollars worth of work across South East Queensland through to 2032, creating intense competition for labour at a time when Australia's residential construction sector is already under pressure.

[smartcode_project:default project_id=150489 project_image_fid=373834]

Colliers Queensland Residential Director Andrew Scriven said the convergence of these projects is creating a clear window of opportunity for both developers and buyers.

"From 2027 onwards, the market will shift dramatically," Scriven said.

"Labour will increasingly be locked into government-led infrastructure and Olympic projects, which means private residential developments will face higher costs and tighter margins. The developers who move now are the ones most likely to get projects off the ground."

Scriven said the same dynamic would also affect buyers, with fewer apartment projects expected to launch once construction capacity tightens.

"If you're looking to change your lifestyle over the next five years, now is your window of opportunity to buy."

[smartcode_project:default project_id=150713 project_image_fid=373827]

Developers are already positioning themselves ahead of that window.

Following the success of Monarch at Toowong, Consolidated Properties is preparing to launch two new Brisbane apartment projects in the second half of 2026. They include <a href="https://www.apartments.com.au/new-apartments/gloriette-30-bedivere-street-yeerongpilly-qld-4105">Gloriette</a> at Yeerongpilly Green, a 25-storey tower within one of Brisbane's key Olympic precincts, and <a href="https://www.apartments.com.au/new-apartments/castile-47-skyring-terrace-newstead-qld-4006">Castile</a>, a recently approved 25-storey riverfront development at 47 Skyring Terrace in Newstead.

Hutchinson Builders will deliver both projects, with early works already underway at Yeerongpilly and Newstead expected to commence later this year.

The timing comes as Brisbane's fundamentals continue to strengthen, with strong interstate migration, population growth and vacancy rates remaining below 1.5 per cent.

Colliers Queensland researcher Pragya Sharma said Greater Brisbane is forecast to require around 40,000 new apartments between 2021 and 2031.

"There's a real mismatch emerging between when housing is needed and when it will be feasible to build," Sharma said.

"As a result, the period leading up to 2027 presents a key window of opportunity for developers to secure approvals, funding and construction capacity, while buyers will have greater choice before supply constraints intensify."

Colliers research outlines a critical pre-2027 window to start residential projects before labour squeeze: now is the time to buy

Developers, buyers on watch in South East Queensland ahead of construction crunch: Colliers

Commercial Market

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Townsville commercial property market continues consistent upward trend.
The remainder of 2018 is likely to remain status quo in the Townsville commercial property market with overall confidence and market sentiment positive, according to the latest report from Heron Todd White.
The inner city remain buoyant with inner-city projects including the Townsville Stadium and proposed waterfront precinct being "positive factors".
The valuers at HTW stated that "the present market is highly suburb selective, with reasonable turnover levels in the sought after mid to inner suburbs, but patchy sales in other areas and suburbs with perceived social issues."
During 2018, the trending rental vacancy rate has remained in a "balanced market range" with the overall trend vacancy rate at just over 3%.
This is significantly lower than the prevailing trend in vacancy rate for the similar period of 2017 at 5.52%.
The unit market is currently steady, albeit at low volumes, with some resistance still being experienced due to the holding costs associated with unit ownership including body corporate fees and high insurance costs.
The report forecasts that the remainder of 2018 will remain similar to what we has been seen to date, with any changes to demand or sentiment heavily reliant on factors such as unemployment, job security and population growth.
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j.ballantyne1990-6AQqhLzZaK

Townsville commercial property market continues consistent upward trend: HTW 

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Brisbane’s industrial space has seen a few new estates come online recently.
They all have two things in common: good access to major transportation infrastructure and surrounding amenities, according to the latest report from Herron Todd White (HTW).
This is the case in particular for North Lakes Business Park (further stage released in 2017 and now almost sold out), Metroplex at Westgate South in Richlands (one lot remaining) and Colmslie Business Park on Lytton Road in Morningside (recently released).
North Lakes Business Park is a mixed-use development precinct that accommodates a variety of uses including retail, office, warehousing and service industry.
An example if a a new office/warehouse warehouse (pictured above) that sold for $3.1 million just weeks after completion last year.
The valuers stated that "this prime location has attracted a wide variety of occupiers due to its exposure and road connectivity to the Bruce Highway, Gateway Motorway and Gympie Road".
"Stage 1 was completely sold out after being released in 2017 and Stage 2 is expected to come online around the third quarter of 2018."
The Metroplex at Westgate has offered an alternative to Brisbane’s existing high profile commercial centres within the CBD, Airport precinct and Port of Brisbane.
The Metroplex South estate is located in Wacol within Brisbane’s "western growth corridor" and sits at the nexus of the Ipswich Motorway, Logan Motorway and Centenary Highway.
Metroplex Westgate is serviced by both rail and bus transport options.
Transportation infrastructure around Metroplex Westgate has been significantly upgraded, making it a prime industrial location the report noted.
The valuers stated that Colmslie Business Park’s prime location within the TradeCoast is a major asset to the development, having direct access to the Brisbane Airport, Port of Brisbane and major transport routes with the added benefit of being close to the CBD, major infrastructure and public transport.
The TradeCoast precinct is the most tightly held industrial precinct in Brisbane.
"We expect to see high levels of pre-commitments throughout 2018, as was seen in 2017 with a 19% increase in space from 2016 supply levels."
"This is due to the desire of tenants to occupy new, modern space with attractive rents and good incentives," noted the valuers at HTW.
On the other hand, there has been limited levels of speculative development.
Development activity for owner-occupiers has been "subdued" with Sigma Pharmaceuticals being the only major build in 2017 of approximately 14,990 square metres.
Hilton Foods meat processing facility at Logos Heathwood Logistics Estate will comprise circa 45,000 square metres as well as a Coca-Cola Amatil expansion being completed in the first half of 2018.
Several transport-related infrastructure projects are well underway in Brisbane that will stimulate industrial development through better connectivity and transport options.
The Kingsford Smith Drive update commenced mid-2016 at a cost of $650 million and involves widening Kingsford Smith Drive from four to six lanes in certain areas, road improvement works, public transport improvements and cycling and pedestrian infrastructure and is projected to be completed in 2019.
Brisbane Airport Corporation (BAC) has invested $1.7 billion in infrastructure projects since 2012 with a further $1.7 billion investment in redeveloping the domestic terminal, building a new runway, building a new multi-storey car park, investing in the latest passenger friendly technology and developing a new Industrial Park and Auto Mall project.
The Gateway Upgrade North Project (Nudgee to Bracken Ridge) is a $1.143 billion project aimed to reduce congestion (particularly from population growth and continued expansion of the TradeCoast), improve safety and increase the efficiency of the motorway network.
The Logan Enhancement Project is a $512 million project to improve congestion along the Logan Motorway/Mt Lindesay Highway/Beaudesert Road interchange and the Wembley Road/Logan Motorway interchanges.
It also includes construction of southfacing on and off-ramps on the Gateway Extension Motorway at Compton Road. 
The Inland Rail is another major project that will see the construction of a 1,700-kilometre freight rail that will run from Tottenham in Victoria to Acacia Ridge in Queensland.
This will be up to ten hours faster than the existing rail network via Sydney and will assist in reducing congestion on highways the report noted.
The valuers stated that overall, industrial yields stabilised over the first quarter of 2018.
Prime yields are currently sitting between 6.25% and 7.25% with the TradeCoast precinct having the tightest investment yields, whilst secondary stock typically ranges between 8% and 12%.
The latest report noted rent levels have been low some time now but have remained stable over the past year.
Developers offering competitive rents and incentives in the pre-commitment market are factors holding back rental growth.
Leasing demand increased over the first quarter of 2018 and was mostly concentrated in the south side.
Net face rents for prime industrial assets generally range between $95 and $140 per square metre per annum whilst secondary rents range between $50 and $100 per square metre per annum.
Incentives being offered to secure tenants typically range between 5% and 20% for prime assets depending on size and between 8% and 25% for secondary assets.
The majority of leasing transactions during 2017 were design and construct and pre-commitments, with a high volume of this also expected for 2018.
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Latest industrial estates to hit the Brisbane market coming up big: HTW 

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Commercial property sentiment moderated for the second consecutive quarter, according to NAB’s latest index, though overall confidence improved in the September and the index is expected to rise to +38 in the next 12 months.
NAB’s Commercial Property Index was down 5 to +18, but remains above long-term average levels. 
“Although sentiment was above long- term averages in all markets (except CBD hotels), it continues to vary widely by property type,” said an accompanying release. 
The uptrend in office that started in mid- 2016 reversed in Q3 (down 11 to +28), with weaker outcomes reported in all states except WA (but still negative). 
<a href="https://www.propertyobserver.com.au/images/2017/10/18/NABCommPropMain.png" target="_blank">Click to enlarge</a>
<img src="https://www.urban.com.au/images/2017/10/18/NABCommPropMain.png" alt="">
<a href="https://www.propertyobserver.com.au/images/2017/10/18/NABCommProp2.png" target="_blank">Click to enlarge</a>
<img src="https://www.urban.com.au/images/2017/10/18/NABCommProp2.png" alt="">
NSW leads in office markets (with sentiment at very high levels), followed by Victoria. 
CBD hotels re-emerged as the most positive sector (up 9 to +30). Retail market sentiment was also higher (up 6 to +12) and lifted in all states (bar WA &amp; NSW) with QLD leading the way. Industrial sentiment softened (down 15 to +2) - with sentiment lower in all states except WA (but negative). 
Overall confidence levels in commercial property markets improved in the September quarter - the index is now expected to rise to +38 in the next 12 months (from +30 previously) and +43 in 2 years’ time (+35 previously). 
“Confidence levels among surveyed property experts lifted in all sectors - most noticeably in the CBD hotels sector - which is likely reflecting strong fundamentals in key CBD markets, especially Sydney,” it said. 
Overall confidence levels in office were also slightly higher in Q3 as weaker (but still vey strong) outcomes in NSW and Victoria were offset by improvements all other states (particularly WA). 
In retail markets, confidence increased, with gains in all states. 
In the industrial property sector, gains were largely in WA and Queensland, with experts in the industrial property sector in Queensland also still the most confident of all states, and confidence levels in WA improving the most (but from very low levels). 
By state, lower overall sentiment was dragged down by NSW and Victoria. 
Sentiment lifted in SA/NT and WA (but negative) and was steady in Queensland. The state index for NSW fell (13 to 34), and was lower in all sectors. 
In Victoria (down 13 to +29) the index fell in Office and Industrial, offsetting an improvement in Retail. Sentiment continued to recover in WA (up 11 to -29), recording its strongest read since late-2014 (but still negative). Property experts in NSW and VIC were also less confident in the Q3 survey - but remain the most upbeat of all states in the next 1-2 years. 
Queensland is however bridging the gap, with confidence levels rising in all market sectors. Confidence in SA/NT also lifted solidly (from a small sample size) led by better outcomes in Office and Retail. In WA, confidence levels also improved - and in all sectors with a particularly big uplift in the Office segment. 
On average, property experts have lifted their expectations for capital growth in the next 1-2 years in all sectors. Expectations are strongest for CBD Hotels (2.3% &amp; 2.4%), followed by Office (1.9% &amp; 2.3%), Industrial (0.9% &amp; 1.9%) and Retail (1.3% &amp; 1.1%). 
Capital growth expectations for Office property were pared back but are still highest in NSW (3.4% &amp; 3.2%) and Victoria (1.8% &amp; 2.8%). They were revised up in Queensland (0.8% &amp; 1.5%) and in WA (-0.1%&amp; 1.9%). QLD is expected to provided the best capital returns in Industrial markets (2.0% &amp; 3.5%), followed by NSW (2.1% &amp; 2.8%). 
Industrial capital values in WA are tipped to fall heavily next year (-1.9%) and grow in 2 years’ time (0.4%), with weaker growth also predicted for Victoria (0.9% &amp; 1.2%). Overall capital growth expectations in Retail improved again in Q3 (1.3% &amp; 1.1%), with Queensland and Victoria the stand out states. 
The national Office vacancy rate was unchanged at 9.7% in Q3. Vacancy rates were reportedly lowest in VIC (4.3%) and NSW (6.3%) where strong tenant demand and take-up is continuing. Vacancy rates in SA/NT (12.3%), Queensland (13.0%) and WA (15.0%) were however still elevated. In Retail, overall vacancy climbed to 5.7% in Q3 to its highest level since late-2014. 
Vacancy increased most in WA (8.0%) and was lowest in Queensland (4.7%). In Industrial markets, vacancy also climbed to a survey high 7.0%, mainly reflecting a significant increase in available space in WA (10.0%). Looking forward, Office vacancy is expected to drift down in the next 1-2 years, with market tightness most apparent in VIC &amp; NSW. Vacancy is also expected to improve in Queensland, SA/NT and WA, but remain high amid large supply over-hangs in WA. 
 
 
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jonathanchancellor-7SQnKwU6yx

Commercial property sentiment moderates for second quarter in a row: NAB index

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Industrial and logistics occupiers are on an overall basis, optimistic about the future with a majority hoping their businesses will be better off financially over the next 12 months, according to a new survey by commercial real estate firm CBRE.
According to the Industrial and Logistics Occupier Survey Report by CBRE, 66% of respondents expect their business to be better off financially, while a quarter said expecting things to stay the same over the next 12 months (Figure 5).
<a href="https://www.propertyobserver.com.au/images/2017/09/25/CBREchart1.png" target="_blank">Click to enlarge</a>
 <img src="https://www.urban.com.au/images/2017/09/25/CBREchart1.png" alt="">
CBRE engaged TNS Kantar for the survey that aimed to gain a better understanding of decision making, future plans and how changes in technology are impacting the industry. 
The warehousing and distribution sector is the most positive with 86% of respondents expecting their business to be better off, while 61% of the transport sector had a positive financial outlook (Figure 6).
<a href="https://www.propertyobserver.com.au/images/2017/09/25/CBREchart2.png" target="_blank">Click to enlarge</a>
<img src="https://www.urban.com.au/images/2017/09/25/CBREchart2.png" alt=""> 
Increases in road tolls, particularly in Melbourne, and the introduction of a container charge to be levied on transport companies at Melbourne and Sydney ports may have been a factor for the flatter score, CBRE said.
“Victoria is experiencing stable economic growth and solid wage growth. These favourable economic conditions have been reflected in the results of the survey,” said the report.
Victorian businesses have the strongest outlook with 76% expecting their business to be better off than what it is now while only 65% of NSW businesses said the same.
Furthermore, 48% of Victorian businesses are considering hiring more staff compared to 29% for NSW businesses. NSW’s softer results follow a period of very strong economic growth driven by construction activity in the housing and infrastructure sectors which is easing from high levels - the slowdown in momentum may have driven the flat results.
On the other hand, 70% of Queensland based survey respondents expect to be better off which reflects a period of flat economic performance which is now turning around, encouraging positivity in the sector. 
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Australian manufacturing has recorded negative Gross Value Add (GVA) growth for the past 18 out of 19 quarters and has been a significant drag on industrial output. Conditions in manufacturing remain mixed, although not all areas are contracting. 40% of manufacturing respondents indicated that they were expecting a high level of staff growth over the next 12 months; however, the sector also had the highest level of staff contraction (17%). As the Australian manufacturing industry shifts towards a smaller scale, high technology offering, there will be a shift in the number of staff required in each facility.
Overall, the survey suggests the strongest net growth is in the retail and warehousing industry closely followed by transport. Unsurprisingly, manufacturers have the lowest net growth expectations.
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Industrial and logistics occupiers positive on growth outlook: CBRE survey

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An economic update from Cushman &amp; Wakefield notes a geopolitical crisis is a major risk to the steadily improving global economy in 2017 and continued growth in Australian commercial real estate (CRE) markets.
According to Cushman &amp; Wakefield there have been a number of events over the past year with the potential to impact global economic growth such as the UK triggering Article 50, the fight for Raqqa, the US, French and Iranian Presidential elections, US rate rises and various terrorist events. Most of these have had little or indeed have had a positive impact. 
John Sears, national director of Research from Cushman and Wakefield said in recent weeks, tensions between North Korea and the US have escalated and subsided, leading to concerns over how Australian CRE might be impacted if a geopolitical conflict were to occur.
The research examines major conflicts or geopolitical events over the past 100 years or so and how Australian CRE, consumer sentiment, US bonds and Australian GDP have responded.
"History suggests that most recent conflicts, or events that have de-escalated short of actual conflict, while hitting confidence in the short-term, have had little impact on Australian CRE," Cushman &amp; Wakefield said.
"A longer-term conflict involving our key trading partners such as the US, Japan, South Korea or China would be likely to hurt Australian economic growth and Australian CRE, however, at this stage this appears a low probability.
"If this remains the case, Australian CRE should remain attractive, supported by an improving economy and relatively attractive yields when compared to bonds and major international CRE markets."
Australian CRE and historic conflicts
"Figure 1 indicates that since 1985, Australian office yields, as indicated by the MSCI/IPD Office Income Return, have been influenced more by the domestic economy than conflicts such as the two Gulf wars or the 9/11 terrorist event," Cushman &amp; Wakefield said.
"During Gulf War I (August 1990 to February 1991), yields did increase though this coincided with an Australian recession and CRE crash when vacancy rates in many Australian CBD office markets rose to over 20%. After the 9/11 terrorist event, CBD office market vacancy rates and office income returns recorded little change. Similarly, there was little change to yields after start of Gulf War II.
<a href="https://www.propertyobserver.com.au/images/2017/09/11/Jagona1.png" target="_blank">Click to enlarge</a>
 <img src="https://www.urban.com.au/images/2017/09/11/Jagona1.png" alt="">
Sentiment and historic conflicts
"While CRE yields have recorded little change due to conflict in recent decades, sentiment has been hurt in the short term.
"Figure 2 highlights a jump in consumer sentiment at the end of the Vietnam War and dips when the Gulf and Falklands wars commenced as well as after 9/11. However, the dips have been relatively short lived and also coincided with recessions in the early 1980s and 1990s.
<h2 class="p1"><a href="https://www.propertyobserver.com.au/images/2017/09/11/Jagonal2.png" target="_blank" style="font-family: Tahoma, Helvetica, Arial, sans-serif; font-size: 12px;">Click to enlarge</a></h2>
<img src="https://www.urban.com.au/images/2017/09/11/Jagonal2.png" alt=""> 
US Bond Yield and historic conflicts
"A key driver of investment demand for Australian CRE has been relatively attractive yields compared to alternate investments such as bonds.
"While our historic CRE yield series is relatively limited, US government bond data is available back to the 1870s. Figure 3 indicates that during the major conflicts of World Wars I and II, US bond yields were relatively stable.
"However, yields dipped in the months after both Gulf wars commenced and post 9/11 as investors initially sought the relative security of US government debt. Stable or lower bond yields suggest CRE should remain relatively attractive to investors. However, a reduction in CRE income through an economic slowdown could negatively impact demand.
<a href="https://www.propertyobserver.com.au/images/2017/09/11/Jagonal3.png" target="_blank">Click to enlarge</a>
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<h2>Australian GDP and conflict</h2>
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"Tenant demand, vacancy and rental growth depends on economic growth.
"Figure 4 shows Australian GDP from 1900 to 2016 and indicates that the economy did suffer during prolonged periods of conflict.
"GDP falling by an average of 1.4% pa during World War I.
"Economic growth was more volatile during World War II.
"Initially dipping to 0.3% in 1939 and then experiencing strong growth averaging 8.2% pa from 1940 to 1943 before slipping to average -4.2% pa over 1944 and 1945.
"During the Korean War, GDP real growth averaged a solid 3.8% pa (but did dip to 0.9% in 1952) and averaged 4.4% during the Vietnam War (from the escalation of US participation in 1965 to 1975).
"As noted earlier, Australia suffered recessions in the early 1980s and 1990s that were more influenced by local factors than conflicts such as the Falklands and Gulf I wars. Since 1991, Australia has not experienced a recession, aided by our increased trade with China, while most other advanced economies were negatively impacted by the tech wreck, 9/11 and the GFC."
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Geopolitical crisis a major risk to growth in Australian commercial real estate

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Melbourne is fast catching up with long-standing rival Sydney in the office leasing market, according to Cushman &amp; Wakefield.
An influx in planned supply in Melbourne will bring overall stock levels within 100,000 sqm of Sydney by 2021, the first time ever the gap has been this narrow (last was 400,00 sqm in 1992), it says.
Sydney, often considered the corporate capital and global property hub of Australia, previously benefited from disparity between both the size and quality of available office space. 
However, today despite Sydney’s 5.1 million sqm of net lettable CBD office space compared to Melbourne’s 4.6 million sqm, and a tighter office market in Sydney with vacancy rates of 5.9% compared to 6.5% in Melbourne, the most noticeable difference is in average prime rent, according to Cushman &amp; Wakefield.
While rental growth continues in both markets, CBD office space in Melbourne still remains markedly less expensive than Sydney. 
Average Prime net effective rents in Sydney is currently $720 per sqm across the CBD, whereas the equivalent Melbourne rent is practically half, at $370 per sqm. 
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Alongside rent, an assortment of factors have helped close the gap in attractiveness. 
The Victorian government’s proactive approach to development and construction has seen net office supply grow at nearly three times the pace of Sydney over the past 5 years, according to the real estate firm. 
This will continue with significant disparity between the net negative forecast supply in Sydney (- 15,250 sqm) and the additional 435,000 sqm forecast supply entering Melbourne between 2017 and 2021.
This projected supply will significantly alter overall office volume, and in 2021 Melbourne office stock will come within approximately 100,000 sqm of Sydney. 
For perspective, the previously narrowest gap was approximately 400,000 sqm in 1992, and since 1990 the average gap has been circa 800,000 sqm. Beyond 2021, the proposed increased supply for Sydney will see this gap shift to a more traditionally balanced level. 
Whilst the Melbourne office market doesn’t incorporate major submarkets like Sydney, the abundance of newly built and renovated quality stock is bringing business to the CBD. 
“We are seeing large occupiers take a renewed interest in the CBD. They are gravitating from fringe areas like Richmond, Hawthorn and St Kilda Road back to the CBD for unsurpassed access to a wider talent pool and better amenities,” said Chas Keogh, joint head of Office Leasing Victoria.
Tim Courtnall, head of Office Leasing NSW added that “for the first time following the GFC we are seeing a shift from the importance of cost efficiency towards people and culture”. 
Many companies feel a renewed sense of confidence and are comfortable committing to a longer lease with many also upgrading their space to provide a competitive edge in today’s war for talent, he said. 
Despite the strong rental growth in Sydney’s CBD, firms are going after prime grade office space in superior locations with the best amenities to be competitive in targeting talent. 
While Melbourne’s significant population growth and attractiveness of cheaper prime grade rent has its appeal, Courtnall said he is yet to see companies relocating head offices to Melbourne as a result, and believes Sydney remains the preferred location for global financial and tier 1 technology firms. 
Highlighting the point, Cushman &amp; Wakefield recently secured space for two leading corporates that have chosen to expand their footprint or relocate within the financial core of Sydney’s CBD, despite steadily growing rents. 
RCR Building Services relocated from 50 Bridge Street in the Sydney CBD due to demolition, opting to lease two floors (2,410 sqm) in one of Sydney’s most iconic premium buildings, 1 Macquarie Place, Gateway. Growing fintech player, SocietyOne, also recently secured an entire floor in 45 Clarence Street, taking 44% more space and a higher effective rental. 
With both cities offering appealing lifestyles, and the range of office products becoming increasingly aligned, whether expanding an existing Australian footprint, relocating, or entering the Australian market, Melbourne’s eclectic appeal and Sydney’s celebrated locale is enticing to both investors and occupiers. 
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Melbourne closes in on Sydney in office stock: Cushman & Wakefield

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Governments are busily rezoning our cities for high-rise apartments. The New South Wales government, for example, plans to rezone a 20-kilometre corridor in Sydney, from Sydenham to Bankstown, for urban density, in concert with a new metro rail line. Residents and community groups have reacted vociferously to the prospects of high-rise buildings in previously low-density suburbs.
But there is another, overlooked dimension to the redevelopment. Much of it is on industrial land: pockets of old factories and workshops, portrayed as decrepit and in need of renewal.
Our new project documents enterprises that actually use urban industrial lands. It’s a story of surprising and largely hidden vibrancy at the interface between creative industries and small manufacturing.
Planners and economic developers tend to assume manufacturing has left central cities and that manufacturing enterprises can simply locate to city-fringe greenfield sites. In reality, manufacturing is changing form, and often depends on – and benefits from – urban industrial lands.
Despite the scale of renewal plans, no detailed knowledge exists of what will be lost, or of existing enterprises’ needs.
Manufacturing has a new, creative face
In planning reports for renewal strategies, industrial zones are seen as redundant because it’s assumed that manufacturing is in a state of inevitable decline. This is false and misleading.
Employment, exports, enterprise formation and R&amp;D investment statistics all point to manufacturing’s endurance, as well as its transformation and increasingly diverse character.
Most manufacturers these days are small, agile and creative. Manufacturing is increasingly interwoven with creative industries, through innovation-driven additive manufacturing, craft-based production, and bespoke maker scenes.
Cities such as New York and Portland are actively planning for this, because they recognise that the creative-manufacturing interface generates jobs, assists place marketing, contributes to liveability and enlivens local communities.
Creative-manufacturing favours older industrial sites
There is, however, a planning dilemma cities must face. Enterprises at the interface tend to locate in inner-city industrial zones. This is where other relevant enterprises are co-located and buildings are more suitable, often older and lower rent, with limited restrictions on noise.
Like-minded micro-enterprises sub-let workshops or pods within older factory complexes. They cannot afford commercial rents in stand-alone buildings. Older industrial zones also provide access to distribution and business networks, cultural venues and institutions, and final markets.
These are the very zones favoured for major “renewal” schemes. In practically every case, this means medium- and high-rise apartments. Retail space is provided, typically at ground-floor level (which often sits vacant for months or years).
Ironically, the presence of creative industries helps sell real estate. But such renewal schemes rarely, if ever, provide replacement workshop space zoned for industrial uses.
Carrington Rd, an unassuming creative-manufacturing hub
Our new report documents enterprises in one such industrial precinct in Marrickville, inner Sydney, that’s slated for redevelopment. A single 700-metre-long stretch of Carrington Road is home to more than 200 diverse micro-enterprises and small manufacturers.
These have strong local ties, employing an estimated 1,800 workers. Fifteen discrete enterprise clusters thrive there. These include theatre production, puppet and prop-making, furniture restoration, fashion and textiles.
What underpins this pre-eminent creative-manufacturing interface precinct? It’s a combination of affordability, sympathetic landlords, industrial land use zoning, and a mix of small and large factory spaces with suitable features.
Proximity to the CBD, media corporations, major entertainment venues and iconic cultural institutions is vital. That’s because these firms supply stage sets, install event equipment, rent studios for photography, television and film shoots, and perform at corporate functions.
The social and cultural milieu of surrounding areas is also crucial. These areas generate nearby markets for locally made fashion, jewellery and ceramics.
No consultation on a looming loss for the city
Shockingly, enterprises in industrial zones potentially affected by this latest renewal strategy are not being consulted before rezoning.
NSW Planning and Environment commissioned a consultancy firm to investigate employment impacts of proposed redevelopments throughout the Sydenham-Bankstown corridor. The report was a desktop study. Detailed site inspections “were not undertaken nor interviews or consultation with businesses in the Opportunity Sites”.
When we visited Marrickville’s creative-manufacturing enterprises, it became clear none had been consulted about the details of renewal plans for the precinct. They were unaware the closing date for public submissions was imminent.
Creative micro-enterprises and small manufacturers reported that city fringe relocation is not feasible. Rezoning this industrial space, one of inner Sydney’s last, may force enterprises to close altogether. Others said they would move overseas.
The loss for Sydney could be tragic. As one artisan said: "If all the people who worked on this street worked in one company and were sacked, it’d be national headlines."
Similar processes are under way in Melbourne’s inner north, an iconic part of that city’s cultural profile. Rezoning in the name of urban density has given a green light to the conversion of old light industrial buildings into residential developments.
So, just as Creative Victoria establishes a Collingwood Arts Precinct to host creative practitioners, tenants next door have been evicted to make way for a 12-storey apartment block. The developer has now objected to the potential noise from local venues.
Learning from other global cities
Our project’s next phase is to explore how other global cities foster creative and manufacturing enterprises.
Chicago has planned manufacturing districts and Portland, Oregon, has industrial sanctuaries. These are long-standing and successful examples of industrial land preservation. The German zoning system has also long mixed “non-disturbing” industry with other uses.
San Francisco’s production, distribution and repair (PDR) zone attempts to accommodate the growth of small manufacturers. New, higher-rent office development cross-subsidises lower-rent industrial space. Austin, Boston, Los Angeles and Nashville in the US and Vancouver, Canada, are pursuing similar policies.
In China, Shenzhen, the 21st-century “workshop of the world”, is looking to the “creative economy” not to replace but to enhance Chinese manufacturing prowess.
While growing cities like Sydney clearly need to plan for housing, another conversation in our cities is needed, not just about high-rise redevelopments, but about what’s at stake when industrial lands are rezoned.
Chris Gibson, University of Wollongong; Alexandra Crosby, University of Technology Sydney; Carl Grodach, Queensland University of Technology; Craig Lyons, University of Wollongong; Justin O'Connor, Monash University; Xin Gu, Monash University 
The discussion appeared in <a href="https://theconversation.com/can-our-cities-thriving-creative-precincts-be-saved-from-renewal-83042?utm_medium=email&amp;utm_campaign=Latest%20from%20The%20Conversation%20for%20August%2030%202017%20-%2081866652&amp;utm_content=Latest%20from%20The%20Conversation%20for%20August%2030%202017%20-%2081866652+CID_a8078e42d468edbf1d13a3574d52dfb3&amp;utm_source=campaign_monitor&amp;utm_term=Can%20our%20cities%20thriving%20creative%20precincts%20be%20saved%20from%20renewal" target="_blank">The Conversation</a>.
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Can our cities’ thriving creative precincts be saved from ‘renewal’?

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SPONSORED POST
It is no secret that Macquarie Park has been a favourite amongst Australia’s leading property developers and investors with AMP, Goodman, Stockland and the like all taking a substantial stake in the precinct.
Since the early days in the mid 1960’s when the bushland suburb of North Ryde was rezoned for employment land, developers and prospective investors have found solace in the safe havens of Macquarie Park which has transformed into the “Silicon Valley of Sydney” with global tech and software giants such as Microsoft, Oracle and Novartis calling it home.
Macquarie University was built in the early 1960’s as Sydney’s much needed third university, construction of residential dwellings then transpired around the fringes and soon after Macquarie Shopping Centre opened for business which proved to be a major draw card for international and domestic businesses. Since then, Macquarie Park has positioned itself as a power house in the commercial market with over 850,000 square meters of office space creating a work force of over 45,000 and with a competitive 7 percent vacancy rate.
Since 2015 when the Herring Road Precinct was rezoned, we have seen a new form of investment with local and international residential developers acquiring all the newly re zoned land with over $1 billion dollars being transacted since 2015. According to the NSW Government there is over $2.7 billion in Development Applications awaiting approval with a substantial amount also in the pipeline.
The newly created strata laws brought into effect on 1 December 2016 has proven to be the catalyst for site amalgamations in the Herring Road precinct.
Savills Residential Site Sales Directors Stuart Cox and Neil Cooke have been instrumental in amalgamating these sites and have recently taken <a href="https://commercialpropertysearch.savills.com.au/bc8f85aa-9be2-e611-80c7-005056813885/Sale/Macquarie-Park/Macquarie-Park" target="_blank">15-19 Cottonwood Crescent</a> to market with an outstanding response from international and local developers in the first couple of days.
<img src="https://www.urban.com.au/images/2017/06/06/Screen%20Shot%202017-06-07%20at%209.36.43%20AM.png" alt="" width="570" height="359">
This site encapsulates three existing blocks of 15 two bedroom apartments, capable of being redeveloped into a landmark 21 storey 200 unit development under the current development controls.
According to Stuart Cox, “The re-gentrification of Macquarie Park will be home to over 10,000 new dwellings in the next 10 years with residents benefiting from the governments heavy involvement in upgrading public infrastructure through integrated transport connections and improving transport times to and from Sydney and Parramatta CBD’s.”
Strong demand for Macquarie Park has always stemmed from its education and retail backbone that has provided for over 40,000 students and 45,000 employees, new demand stems from the proximity to Sydney and Parramatta CBD’s through the new Metro Sydney Project which will provide trains every four minutes in peak hours.
Macquarie Park is also the second largest employment region in NSW and the fourth largest CBD in Australia with employment figures by BIS Shrapnel quoting a growth of over 40,000 new jobs by 2031. Residential developers have recently been acquiring sites at rates well in excess of $3,500 per square meter of Gross Floor Area for the privilege to own and develop in the extremely hot Herring Road Precinct.
This article was written by Johnathon Broome, Savills Residential Site Sales Executive.
For more information from Savills, <a href="https://www.savills.com.au" target="_blank">click here</a>.
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Billionaires play in the Park

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Aventus Property Group has purchased Home Hub Castle Hill and Home Hub Marsden Park for $436 million, beating off competition from Gerry Harvey to buy the two centres.
The sale represents a weighted average capitalisation rate of 5.6 percent.
Home Hub Castle Hill was purchased for $336 million at a fully leased yield of 5.50 percent and Home Hub Marsden Park for $100 million at a fully leased yield of 6.00 percent.
Simon Rooney, JLL’s head of retail investments, Australasia, said there is a very limited number of major, core assets in the LFR sector across Sydney, so these presented a rare opportunity to acquire significant scale in the sector.
"The sale of Home Hub Castle Hill and Home Hub Marsden Park was the largest homemaker transaction in Australia’s history," he said.
“The yield achieved resets the benchmark for premium large-format retail assets and represents a new record low for the sector.
"For this particular transaction, investors were forward buying growth by pricing in the potential for strong cash flow and rental uplifts.
"The fundamentals of both assets are well supported by population growth in each catchment of 1.8 percent for Castle Hill and 2.1 percent for Marsden Park, said Rooney.
The portfolio was marketed by JLL in conjunction with McVay Real Estate on behalf of LaSalle Funds Management Limited.
Home Hub Castle Hill features a total of 52,004 sqm built over two multi-level centres and includes parking for 1,490 cars on a combined site area of 59,820 sqm.
Tenants include The Good Guys, Nick Scali, JB Hi-Fi, Harvey Norman, Officeworks, Toy ‘R’ Us &amp; Babies ‘R’ Us, Domayne and Freedom, and 64 specialty retailers.
Home Hub Marsden Park is on 19,832.6 sqm, with parking for 451 cars and a site area of 39,900 sqm. It is securely leased with long-term tenure to JB Hi–Fi Home and The Good Guys and features 22 large format and 10 food-based retailers on ground and 7 tenancies on an upper level.
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$436 million sale of Home Hub Castle Hill and Marsden Park

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A bluestone country hotel in NSW’s Goulburn district is set to go under the hammer on June 2 with price expectations of $700,000.
Located at <a href="https://www.eldersrealestate.com.au/residential/buy/property-other-nsw-taralga-684526" target="_blank">24 Orchard Street Taralga</a>, the country hotel was established in 1876.
The listing agent is David Medina at an Elders Real Estate auction. 
According to its description, it is an “excellent repeat business with outstanding further potential”
It sits on a 3,230 sqm site. The two-storey hotel has seven rooms that can accommodate up to 23 guests, and includes a manager’s quarters with two bedrooms.
Owners Brad and Rob Norford bought into the Taralga Hotel just 12 months ago, but ill health has prompted an unplanned early exit, said a post in Domain. 
The rooms have built-in wardrobes and is close to shops.
<img src="https://www.urban.com.au/images/2017/05/23/Taralga1.png" alt="">
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