Following the proposal by the Minns Labor Government to rezone Parramatta Road to create up to 8,000 new homes, prominent developer Ceerose has gone to the NSW Gov to increase the density of its new mixed-use residential building in Leichhardt.

<a href="https://www.apartments.com.au/builders/ceerose">Ceerose</a>, founded by Edward Doueihi nearly three decades ago, has filed plans for 154 apartments above ground-floor retail at 307-315 Parramatta Road, a key corner site near Norton Street, the main high street strip in Leichhardt.

It's an upsize from the previously approved scheme of 63 apartments across a seven-storey building.

<img alt="Ceerose" data-entity-type="file" data-entity-uuid="ba1ae75b-5f08-43fb-b8d5-3de6d9f6ef71" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202025-12-04%20at%2010.31.39%E2%80%AFAM.png?VersionId=yA3hBBLPH4ev7MsAE0_hieXeqiFqBUb7" />

The project is being advanced through the State Significant Development (SSD) pathway, with concurrent rezoning sought to facilitate the proposal. The 10-storey development would rise over a four-level basement and deliver two retail tenancies, one a larger-format offering and the other a smaller “hole in the wall” space, addressing the Parramatta Road frontage. 21 of the apartments are dedicated as affordable housing.

According to the Urban Design Report by Architecture AND, the scheme includes a podium and tower configuration, with a fine-grain, two-storey parapet street wall that references the traditional shopfront rhythm along the corridor. “An elegant tower form is proposed, combined with a characterful two storey frontage... articulating it as two related buildings, providing consistency with the rhythm and grain of Parramatta Road,” the report notes.

The residential component is split across two slender towers set back from the street edge, a design move aimed at preserving solar access and reducing perceived bulk. This massing strategy also seeks to improve residential amenity by focusing scale toward the quieter northern interface, away from Parramatta Road’s noise and pollution.

<img alt="Ceerose" data-entity-type="file" data-entity-uuid="347f2f8f-5d36-4388-b40a-2e77380b9c19" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202025-12-04%20at%2010.31.02%E2%80%AFAM.png?VersionId=xvyUE2ujT1lzivXTo.mHBJFF4SmfgLtz" />

Architecture AND has worked with Ceerose on previous Inner West projects, and cites a deep familiarity with the local character. Their design draws heavily on context, heritage, and sunlight access considerations, and engages with the Inner West Council’s “Our Fairer Future” strategic planning framework.

The site spans 2,712 sqm and is located near key intersections with Catherine Street, Hay Street, and Redmond Street. It adjoins a public carpark to the north and is within walking distance of Stanmore and Petersham stations. It is also flagged in state and local planning strategies, including the Parramatta Road Corridor Urban Transformation Strategy, as a suitable candidate for increased density.

Ceerose recently completed The Alex Collective on McEvoy Street in Alexandria, Abbie's Lane in Annandale, and the award-winning Munro House in Elizabeth Bay.

The Parramatta Road corridor is coming to life with the proposed rezoning which is serviced by a significant number of bus, light rail and train routes.

Deicorp is progressing with its $1.8 billion <a href="https://www.apartments.com.au/new-apartments/kings-bay-village-five-dock-53-75-queens-road-five-dock-nsw-2046">Kings Bay Village</a> precinct on Parramatta Road in Five Dock, as is <a href="https://www.apartments.com.au/news/nsw/toga-to-push-on-with-five-dock-mixed-use-masterplan">TOGA further down the street</a>. Those two projects alone will bring nearly 2,000 new homes to Parramatta Road.

Joel Robinson

First look: Ceerose plots mixed-use Leichhardt development on Parramatta Road

North Sydney's landmark 'SBS Building' on Alfred Street is set to be demolished to make way for a new mixed-use residential tower in the booming North Sydney.

Commercial property group FiveX is behind the plans for a <a href="https://www.apartments.com.au/new-apartments/275-alfred-street-north-north-sydney-nsw-2060">39-storey tower</a>, the latest project to advance under the NSW Government’s Housing Delivery Authority pathway.

They are proposing 184 apartments above retail spaces, which will replace the existing 20-storey commercial building. FiveX was set up more than five decades ago by Joshua and Marko Berger. It is currently led by Joshua's son Lesli.&nbsp;

<img alt="First look: Fivex plans 39-storey residential tower at 275 Alfred Street, North Sydney" data-entity-type="file" data-entity-uuid="2efa0980-53fa-4cca-9f9e-9c3c845d4746" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Article%20Feature%20Image%20%28Grid%29%20%281%29_0.png?VersionId=y_YyPMq3NQLfYRs84pP4os9UgWiMLp75" />

According to the Architectural Design Report by <a href="https://www.apartments.com.au/architects/fjc-studio">FJC Studio</a>, the slender tower form has been deliberately designed to respect the site's transitional setting at the southern gateway to the North Sydney CBD, where high-rise towers give way to lower-scale residential precincts.

"The slender tower form and articulated podium establish a respectful relationship with nearby heritage and low rise buildings, including the Whaling Road Heritage Conservation Area,” the architecture firm noted, adding that the tower “completes a missing link in the urban fabric” while enhancing the Alfred Street streetscape.

The proposed building will include a mix of one-, two- and three-bedroom apartments, with 15 percent of the gross residential floor area allocated as affordable housing. There is an agreement already in place that those apartments will be managed by Evolve Housing.

The project aligns with broader state housing objectives, including the National Housing Accord target of delivering 1.2 million new homes by 2029. The Scoping Report filed with the State Significant Development Application (SSDA) suggests the site "presents no impediments to rapid delivery,” with construction able to commence within 12 months of receiving consent.

North Sydney has been one of the most popular suburbs in Sydney for new and off the plan apartment development, but hasn't had the supply to keep up with demand, until recently.

AURA by Aqualand was, for a long time, the only off the plan apartment building on the market. That completed last year, and has sold the majority of its 386 luxury apartments. Recently ALAND launched <a href="https://www.apartments.com.au/new-apartments/the-walden-173-179-walker-street-north-sydney-nsw-2060">The Walden</a> on the same street, selling over $100 million within just a few hours of its launch, while developer CASA also launched&nbsp;<a href="https://www.apartments.com.au/new-apartments/the-mclaren-north-sydney-45-mclaren-street-north-sydney-nsw-2060">The McLaren</a>&nbsp;in the same precinct.

First look: Fivex plans 39-storey residential tower in booming North Sydney

Kokoda Property Group has announced the Sydney-based Versatile Construction as the builder for its landmark $1.5 billion <a href="https://www.apartments.com.au/new-apartments/teneriffe-banks-17-27-skyring-terrace-teneriffe-qld-4005">Teneriffe Banks</a> precinct.

Construction of the 17,612 sqm site is scheduled to commence in December 2025 and is expected to be delivered in stages from 2028. Once complete, <a href="https://www.apartments.com.au/new-apartments/teneriffe-banks-17-27-skyring-terrace-teneriffe-qld-4005">Teneriffe Banks</a> will comprise 212 residences across four architecturally distinct buildings, alongside Brisbane’s first Kimpton Hotel, extensive retail, hospitality, and wellness amenities.

[smartcode_project:default project_id=139896 project_image_fid=295098]

Kokoda Property Group Founder and Managing Director, Mark Stevens, said appointing Versatile Construction marks a significant milestone for <a href="https://www.apartments.com.au/new-apartments/teneriffe-banks-17-27-skyring-terrace-teneriffe-qld-4005">Teneriffe Banks</a>.

“Partnering with Versatile Construction gives us confidence in delivering a precinct that sets a new benchmark for luxury living, curated experiences and vibrant riverfront activation," Stevens said.

"Together, we will bring the vision for <a href="https://www.apartments.com.au/new-apartments/teneriffe-banks-17-27-skyring-terrace-teneriffe-qld-4005">Teneriffe Banks</a> to life, creating a destination that residents and visitors will enjoy for generations."

Throughout the construction phase, more than 2,000 jobs will be created, supporting hundreds of local contractors and suppliers.

[smartcode_project:default project_id=139896 project_image_fid=352274]

Marco Fahd, Chairman &amp; CEO at Versatile Group, said the company is looking forward to&nbsp;expanding their footprint in the state, taking on their inaugural project in Brisbane.

"We are proud of the unwavering commitment our team of experts have to quality and certainty in delivery and are excited to work with Kokoda to bring their vision for this unique project to life," Fahd says.

Sales reached $285 million on the launch of <a href="https://www.apartments.com.au/new-apartments/teneriffe-banks-17-27-skyring-terrace-teneriffe-qld-4005">Teneriffe Banks</a>, with sales momentum continuing to "exceed all expectations."

Stevens says the overwhelming response from buyers validated the group’s vision for <a href="https://www.apartments.com.au/new-apartments/teneriffe-banks-17-27-skyring-terrace-teneriffe-qld-4005">Teneriffe Banks</a>.

“The demand for a luxury product in this enclave has been extraordinary, we’ve never seen anything like it before. It reinforces everything we’re doing around quality, design, and creating genuine lifestyle precincts. Buyers are recognising the enduring value of Brisbane’s riverfront and are responding to the opportunity to live within a world-class destination that celebrates both place and lifestyle.”

[smartcode_project_cta:default project_id=139896]

Kokoda appoints builder for $1.5 billion Teneriffe Banks waterfront precinct

Castle Hill’s booming development market is set for another boost, with builder-developer Buildex proposing a new mid-rise apartment building near Castle Towers.

Buildex has submitted plans to The Hills Shire Council for a <a href="https://www.apartments.com.au/new-apartments/197-old-northern-road-castle-hill-nsw-2154">nine-storey building comprising 57 apartments</a> on Old Northern Road. The company acquired two adjoining sites earlier this year, totalling more than 2,683 sqm.

Texco Design has prepared the scheme, which includes five one-bed plus study apartments, 37 two-bedrooms, and 15 three-bedrooms.

Castle Hill has become a hotspot for developers in recent years, undergoing significant transformation driven by the opening of the Hills Showground Precinct to development and the introduction of two metro stations servicing the suburb.

Developers including Deicorp and Kassis Homes have already completed projects, and are progressing future developments, while Meriton, Arada, and Ellipse are currently delivering new projects in the rapidly evolving area.

Staff Writer

First look: Buildex plans 57 apartments near Castle Towers

Gold Coast developer&nbsp;<a href="https://www.apartments.com.au/developers/immerse-projects">Immerse Projects</a>&nbsp;has unveiled what it intends to deliver at its recently acquired Toowong site, its debut apartment development in Brisbane.

Immerse, founded by John Kearney who is also the founder of regarded construction company Greyburn, secured the prime Sylvan Road site <a href="https://www.apartments.com.au/news/qld/first-look-immerse-projects-moves-into-brisbane-apartment-market-with-toowong-site-acquisition">earlier this year</a>, in an area which has historical significance to Kearney who&nbsp;studied at the nearby University of Queensland.

"It feels like a full circle moment," Kearney told&nbsp;<a href="https://www.apartments.com.au/" target="">Apartments.com.au</a>.&nbsp;

“I spent many nights at the Regatta Hotel just down the road, as have most people in&nbsp;<a href="https://www.apartments.com.au/developments/brisbane-qld" target="">Brisbane</a>. It’s one of the city’s most well-known hotels, and with several cafes, restaurants, and a CityCat stop nearby, it’s become an even more attractive place to live.”

He is planning a <a href="https://www.apartments.com.au/new-apartments/22-24-sylvan-road-toowong-qld-4066">15-storey project with 88 apartments</a> above an activated ground plane with a shop and hospitality spaces.

<img alt="Toowong podium" data-entity-type="file" data-entity-uuid="c350436b-9d64-46cc-ab6f-defc009e1b65" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/podium_0.png?VersionId=zt7A0_14M62TkZ61YHnGmEck9KM9HqDA" />

The architecture, led by <a href="https://www.apartments.com.au/interior-designers/bda-architecture">BDA Architecture</a>, presents a tower massing that responds to the area's evolving mid-rise context. The scheme incorporates podium and rooftop communal spaces, while the commercial elements aim to activate the Sylvan Road frontage and enhance the site's interface with the adjacent parkland.&nbsp;

Landscaping plans by Ivy May Landscape Architects include subtropical planting and deep soil zones to support stormwater management and visual integration.

Supporting documentation from Mewing Planning Consultants notes that "the proposed development will deliver a mixed-use outcome that enhances the vibrancy of the Sylvan Road corridor" and highlights its proximity to high-frequency public transport and community facilities.

<img alt="First look: Immerse Projects moves into Brisbane apartment market with Toowong site acquisition" 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/22-24%20Sylvan%20%20Rd%20Toowong_Markups.jpg?VersionId=u4_IGzpYLPFfAZSsgCZynov3bm7umwJ." />

&nbsp;

There's been little new apartment development in Toowong in recent years. The most notable is Consolidated Properties two-tower Monarch Residences, which is approaching completion with nearly all of its 224 residences sold.

Kearney describes&nbsp;<a href="https://www.apartments.com.au/developments/toowong-qld-4066" target="">Toowong</a>&nbsp;as a suburb with real depth.

"The suburb attracts everyone, from students to retirees, and that's what makes it interesting."

First look: Immerse Projects reveals debut Brisbane apartment development in Toowong

Commercial Retail

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After dipping down in May, The Data App estimate trend cap rates rose to 6.66% in June; an increase of 13 basis points on last month. and 62 basis points higher than a year earlier, according to Rob Ellis, Director of The Data App (TDA).
Mr Ellis said, "this means cap rates, in trend terms, have risen to their highest level since June 2016.”
“From their low point in March 2018, <a href="https://thedataapp.com/" target="_blank">The Data App</a> calculate trend cap rates for commercial retail assets have now increased by 96 basis points.”
“While retail assets continue to be brought to the market, there is little doubt demand is becoming more subdued," he noted.
<img src="https://www.urban.com.au/images/2019/7/1/TDA%201.JPG" alt="">
Trend estimates for June show:
<ul>
<li>The value of shopping centre transactions was the lowest since April 2017 and;</li>
<li>The volume of gross lettable area (GLA) transacted during the month was the lowest since April 2012; over seven years ago.</li>
</ul>
TDA conservatively estimates around 1.3 million square metres of gross lettable area (GLA) is currently up for sale.
<img src="https://www.urban.com.au/images/2019/7/1/TDA%202.JPG" alt="">
Mr Ellis said, "current trend cap rates (6.66%) are still well below their long-run average (7.42%). Simple mean reversion would point to some further upside, while cyclically weak consumer demand, the impact of internet shopping as well as a number of AREITs being net sellers of shopping centres, would suggest scope for even higher cap rates.”
"Pulling in the opposite direction, commercial retail property is offering increasingly attractive yields, especially when compared to other asset classes. This value attraction will eventually encourage buyers back. For now, the balance of risks to shopping centre values remains skewed to the downside,” he concluded.
<img src="https://www.urban.com.au/images/2019/7/1/TDA%203.JPG" alt="">
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j.ballantyne1990-6AQqhLzZaK

Commercial retail cap rates reach three year highs: The Data App 

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Dubbo in regional New South Wales is the only region at the peak of the retail market, finds valuation firm Herron Todd White.
Sydney and Melbourne are offering strong retail markets, however Brisbane is starting to decline.
Dubbo currently has four retail properties up for sale, one the <a href="https://www.realcommercial.com.au/property-retail-nsw-dubbo-502456842" target="_blank">Jubilee Street Shops.</a>
The three retail spaces which are available in one line are being marketed from $99,000.
One is currently tenanted
Click here <a href="https://www.propertyobserver.com.au/images/2018/4/11/clockcomm.jpg" target="_blank">to enlarge.</a>
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2018/4/11/clockcomm.jpg" alt="">
 
 
Herron Todd White noted the strong Sydney market over the last year.
"The retail market in Sydney has seen substantial growth over the past 12 months as a result of increased demand for good investment assets, growth in rental income and generally lower vacancy rates," the report suggested.
They believe the next 12 months will follow the same trend.
Melbourne's retail market performed in similar fashion
Herron Todd White noted it was duo to limited quality stock available and strengthening purchaser demand.
Brisbane are declining after feeling the loss of major retailers departure.
"The recently announced massive headline loss by the Myer Group and the troubles surrounding the Retail Food Group have intensified the focus on the retail sector and it is generally perceived as having the highest risk profile of all principal asset classes," Herron Todd White said of the Brisbane retail market.
 
 
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jrobinson-rf4aSBido9

Dubbo at peak of retail market: HTW

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Mixed-use retail assets continue to find favour with investors, most recently evident from the ongoing auction campaign to sell two lots in Sydney’s Inner West, say Cushman &amp; Wakefield.
Located at <a href="https://www.commercialrealestate.com.au/property/lots-1-2-270-liverpool-road-ashfield-nsw-2131-2013999807" target="_blank">270 Liverpool Road</a> (pictured above) in Ashfield’s retail strip, the lots comprise two brand new strata retail stores tenanted by ANZ Bank and Chemist Warehouse.
According to Cushman &amp; Wakefield, the strong interest in the upcoming auction for the two lots has been driven primarily by high net worth individuals and family investors, both from the local area but also interstate and overseas. These investors are attracted to the long term capital growth presented by the retail sites.
With the rise in medium and high density housing, there has been a significant effect on the way we work, shop and live, say Cushman &amp; Wakefield.
This is also driving experiential and mixed use retail as retailers look to meet the challenge from online shopping.
Demand for mixed use retail and lively high streets storefronts are, in part, also in response to increasingly compact living spaces that are impractical for entertaining.
For developers, the mixed use retail component of a development can generate significant returns, and margins can be increased through maximising the retail pricing and refining their strategy.
“With an apartment tower and space below you effectively create a vertical community,” says Cushman &amp; Wakefield’s head of Research Dominic Brown.
“The retail offers more than convenience; the right tenant emphasises that local village atmosphere and occupiers buy into the concept of a café where the barista knows their order, or bank where the teller knows their name.
“The natural solution for residential adjacent retail is convenience retailing, however, any business offering something the internet can’t is ideal. An experience or service element which is not appealing or available for online purchase will be well received by any resident.”
The two lots going to auction on December 5 reflect this trend.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/11/24/Ashfield2.jpg" alt="">
Lot 1 is occupied by Chemist Warehouse, which is on a new 10-year lease to 2027 plus options to 2037.
The net income from the property is $434,687 per annum plus GST.
The net lettable area is 789 square metres.
Lot 2 is lease to ANZ Bank which is on a seven-year lease to 2023 plus options to 2033.
The net income from the property is $253,838 per annum plus GST.
Its net lettable area is 274 square metres.
Both properties have 4% annual increases.
The listing agent is Anthony Bray.
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prateek24-ezbwHMbNAk

Mixed-use retail values boosted by surging residential development: Cushman & Wakefield

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<div>A locally-based Chinese syndicate has purchased Melbourne’s landmark Burgundy Plaza in Heidelberg for $14,390,000.</div>
<div> </div>
<div>CBRE negotiated the sale with Miles Real Estates with the sale price representing a passing yield of 1.75 percent.</div>
<div> </div>
<div>The building rate was $14,155 per sqm and a land rate at close to $6,000 per sqm.</div>
<div> </div>
<div>Burgundy Plaza at <a href="https://www.cbremelbourne.com.au/wp-content/uploads/2017/09/Burgundy_Plaza_4pp_08.pdf" target="_blank">101-111 Burgundy Street</a> comprises a collection of retail shops and first floor offices situated on a Commercial Zoned 1 landholding suitable for long-term, mixed use development.</div>
<div> </div>
<div>The retail complex has 31 rear car spaces.</div>
<div> </div>
<div>It was sold by a local investor who had owned the it for 30 years.</div>
<div> </div>
<div>There were over 25 offers totalling more than $220 million for a strata retail asset with limited immediate development.</div>
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Melbourne retail landmark Burgundy Plaza sold to China group for $14.3 million

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GUEST OBSERVER
It might seem unlikely that there’s stores in Australia, selling only a small range of products, at prices significantly higher than supermarkets, yet turning over millions of dollars each year. But an increase in stores catering to personal shoppers, called daigou, are growing in the Australian retail scene.
As demand for Australian products increases, daigou stores allow Chinese shoppers to send goods to China. One public relation agency estimated there are between 1,200 to 1,600 small daigou stores that offer “pack and send” services in Australia. Until now, these businesses were fragmented and operated independently.
However, the first Daigou retailer recently listed on the ASX, AuMake. The retailer has seven stores in Sydney and plans for more.
Daigou stores are emerging in response to the demands of a burgeoning Chinese middle-class and their hunger for Australian brands. By 2022, 76% of China’s urban population will be considered middle-class.
Why Australian brands can’t ‘go it alone’
Poor quality Chinese products, food safety concerns combined with ongoing issues of counterfeiting have contributed to a deficit in trust of Chinese brands. This lack of trust is driving demand for authentic, high quality products – particularly from Western markets like Australia.
So, why don’t Australian business simply cut out the middleman and go straight to the consumer? It comes down to the establishment of trust between the consumer and the retailer, and the length of time it takes a foreign retail business to establish consumer trust in China. Australian-based brands like Suisse, Blackmores and Jurlique sell through Daigou retailers to quickly establish authenticity of the product and consumer trust.
Daigou businesses are quickly becoming market influencers, that can make or break brands in China. Case in point is Bellamy’s infant formula, Airwallex Founder Lucy Liu stated: "what Bellamy’s didn’t expect was that the daigous’ customers would be more loyal to their daigou, than to the Bellamy’s brand."
Chinese consultancies are now offering to connect Australian businesses with highly-influential Chinese bloggers and Chinese social media personalities to help promote your products and services
A viable market
Despite low domestic growth in food and groceries, an AFGC State of the Industry Report identified a real hunger for Australian manufactured brands internationally. In 2015-16 food and beverage exports grew by 11% to A$26 billion and grocery (non-food) exports up 32% to A$4 billion.
Notably, China has become Australia’s largest export market for the first time in 2016-17.
So lucrative is this daigou model, that the 2017 Australia-China Business Week Conference allocated an entire afternoon to a workshop on Chinese social media platform WeChat. The aim of the session was to demonstrate to marketers and business how WeChat could be utilised to connect, influence and sell to Chinese consumers.
Global consultancy firms like Nielsen are scrambling to advise entrepreneurs and brands on how they can leverage this new retail model for financial growth.
A final cautionary note
As these daigou stores open up around Australia and become the legitimate “go to” for Chinese consumers seeking quality, authentic Australian brands, it would appear the days of individual daigous striping supermarket shelves of infant formula may be numbered. The model provides a regulated channel to the Chinese consumer and circumnavigates the need for individual daigou shoppers.
While this new retail model presents a great opportunity for Australian products and brands, ultimately, the future remains uncertain. On one hand, Chinese entrepreneurs may increase the number of stores across Australia and small brands will compete for shelf space, in order to access the lucrative Chinese market. Alternatively, established daigou relationships based on trust may endue and the business model becomes irrelevant.
<img src="https://counter.theconversation.com/content/86844/count.gif?distributor=republish-lightbox-basic" alt="The Conversation" width="1" height="1">In the end, this retail model remains viable only as long as the Chinese government permit online shopping from international markets – they could close the door overnight. Chinese officials have already imposed bans on foreign books, movies and games being imported to China.
Gary Mortimer, Associate Professor, Queensland University of Technology and Charmaine Glavas, International Business Lecturer, Queensland University of Technology
This article was originally published on <a href="http://theconversation.com" target="_blank">The Conversation</a>. Read the <a href="https://theconversation.com/chinese-personal-shoppers-have-created-a-new-type-of-retail-store-in-australia-86844" target="_blank">original article</a>.
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Chinese personal shoppers have created a new type of retail store in Australia: Gary Mortimer & Charmaine Glavas

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Savills have prepared charts on major retail development analysis across Australia.
It shows stock under construction and national development by retail type.
<a href="https://www.propertyobserver.com.au/images/2017/10/27/Retail-Construction.png" target="_blank">Click to enlarge</a>
<img src="https://www.urban.com.au/images/2017/10/27/Retail-Construction.png" alt="">
<a href="https://www.propertyobserver.com.au/images/2017/10/27/Retail-Dev.png" target="_blank">Click to enlarge</a>
<img src="https://www.urban.com.au/images/2017/10/27/Retail-Dev.png" alt=""> 
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Major Australian retail development analysis: Savills

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A double-fronted retail freehold in Melbourne’s inner suburb of Malvern has sold under the hammer for $3.02 million, at a crisp yield of just 2.68%. 
The <a href="https://www.realcommercial.com.au/property-retail-vic-malvern-502552166" target="_blank">1425-1427 Malvern Road</a> asset has two-double storey shops on one title, comprising longstanding tenant Allpress Antiques and the popular Milton Wine Shop.
The selling agents were Fitzroys’ Chris Kombi, James Lockwood and Jordan Ceppi.
The sale price was $420,000 above the reserve. 
The 400 sqm site is zoned Commercial 1.
It was sold with a five-year lease in place with the option for a further five years, returning $81,033 per annum. 
Lockwood said the Malvern Road retail and lifestyle strip is underpinned by rapidly growing residential catchment, with numerous mediums and high density mixed-use developments in the vicinity recently completed and others at various stages of planning. 
“Hospitality and retail services have subsequently benefited from the growing catchment immediately around Melbourne’s inner and middle-ring precincts.” 
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jonathanchancellor-7SQnKwU6yx

Double-fronted retail freehold in inner Melbourne fetches above $3 million at auction  

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An IGA-anchored convenience centre in Brisbane’s Everton Hills has sold to private investor for $7.7million in a deal brokered by Savills.
The shopping centre, On Q Centre, has a gross lettable area of 2,019 sqm and the transaction reflects an initial yield of 6.7%.
Everton Hills is located in the Hills District of northern Brisbane.
The centre features a prominent 5,035 sqm site located at the corner of Queens and South Pine Road.
The deal was negotiated by Jon Tyson and Michael Harcourt of Savills following an on market expressions of interest campaign.
Tyson said the On Q Centre had a high exposure location due to its corner position on two main roads.
It has a mix of retail, service and medical oriented tenancies.
“Well located convenience centres like On Q Centre continue to be highly sought after by a range of buyer groups primarily including private investors smaller fund managers and property syndicates,” Tyson said.
On Q Centre is the latest in a string of South East Queensland convenience centre sales brokered by Savills during the first half of 2017, added Harcourt.
Others brokered by Savills this year include Wynnum West Shopping Centre for $7.88 million, Pinnacle Pines Shopping Centre for $19.7 million and a Red Rooster-anchored convenience centre in Narangba for $4.2 million.
“This sustained level of activity clearly indicates that investor demand for centres of this nature remains solid as we enter the second half of the calendar year,” Harcourt said.
Recently, two adjoining commercial properties in the Brisbane suburb of Kangaroo Point, opposite the Shafston Hotel, were snapped up for $1,940,000 in an off-market deal through Savills.
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Brisbane convenience centre sells for $7.7 million through Savills

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One of Melbourne’s leading antique dealers, McPhees, has decided to put its Chapel Street, Prahran shop under the hammer after 116 years of trading.
The auction will be on September 28.
The business, which will continue trading in another location, was established by George McPhee who moved the business to the present location in 1924. The business started just on High Street in 1901. 
The 200-202 Chapel Street property comprises a two level, 497 square metre, building in near original condition.
According to listing agents, Teska Carson’s Matthew Feld and Tom Maule, the property will attract strong interest at time when Prahran is undergoing a development phase that has seen the local population rise in line with Melbourne’s growth.  
According to great grandson Duncan McPhee, who now runs the business with his brother Sean, the fourth generation of McPhees to be involved in one of Australia’s oldest family businesses is looking forward to a new era for the business. 
“Much has changed in Chapel Street over the last 100 years. It has become a destination for cafes, restaurants, bars, and other entertainment venues, and now the family is seeking a more appropriate address, an address which we hope will be home to the business for many more years to come.”
“We have customers that have been with us for 30 or 40 years or more and we would like to continue our service to them and at the same time nourish the business in a new location,’’ McPhee said.
McPhees has a reputation for supplying high quality early furniture especially in the English taste of the Eighteenth century, into the Regency period and continuing through the reign of George IV. 
“This part of Chapel Street has an enviable aura and reputation driven by its eclectic mix of tenancies from cafes to restaurants to bars and entertainment venues, boutique fashion houses to the Chapel Street Bazaar, The Jam Factory and Prahran Market,” Feld said.
“The list goes on. If you get an opportunity to buy in this part of Chapel Street you take it.’’
Current improvements allow for a conversation into two separate tenancies by re-instating the central wall, added Maule. 
He said the Commercial 1 zoning allows for mixed use commercial centres for retail, office, business, entertainment and community uses, as well as residential uses. 
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Prahran's iconic antique dealer to sell its shop of 93 years 

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Melbourne's coffee king Salvatore Malatesta has sold a North Bondi residential apartment block for $3.82 million.
The syndicate proceeds are set to fund a hotel development in Melbourne.
The Blair Street property, comprising four one bedroom apartments and a butcher tenancy on a five year lease, was offered with net passing income of $148,000 a year, reflecting a 3.8 percent yield.
Ray White agent Phillip Elmowy sold the property in conjunction with CBRE's Michael Khouri.
It last traded for $1.66 million in 2008.
The recently married coffee entrepreneur Malatesta is a pioneer who recently launched his coffee brand partnership, Sensory Lab, in David Jones Bondi Junction last week.
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