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

Joel Robinson

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

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

Sammut secures approval for debut Brisbane apartment development in Toowong

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

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

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

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

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

WM Residences fills gap in Mordialloc townhouse market

Commercial Retail

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A site housing a half-a-century old meat company based in Sydney’s fringe suburb of Glebe has sold for for $23,580,000 to a local Chinese developer, AVP Developments Pty Ltd.
‘The Glenmore’, at <a href="https://www.colliers.com.au/news/2017/new-chapter-for-historic-glebe/" target="_blank">40-46 Wentworth Park Road</a>, currently houses the Glenmore Meat Company.
The Glenmore Meat Company became popular with Sydney-siders, with its origins dating back half a century to a small meat company based in Paddington’s Glenmore Road. It was founded in 1967.
The 2,034 sqm site was being marketed by Colliers International’s Ryan Bennetts and Guillaume Volz through an expressions of interest campaign that closed on May 24. It was expected to fetch around $20 million.
According to the selling agents, there were 26 bids and more than 250 enquiries and several bids exceeded the price expectations.
“The Glenmore was one of the most hotly contested development sites we’ve seen this year,” said Ryan Bennetts.
“Glebe is shaping up as one of Sydney’s most desirable residential markets given its proximity to the CBD, walking distance to Sydney’s leading universities and upcoming rejuvenation of White Bay and the Fish Market precinct.”
The suburb is well positioned to take advantage of the redevelopment of the Bays Precinct, which is expected to become a hub of enterprise, activity and beautiful spaces.
Bennetts added that the sale and interest in the site showed developer preference for owner-occupier style product with townhouses most likely for the site, particularly with a scarcity of the townhouse-style product amid many high-density projects in the area.
The sale follows the success of the Roxy-Pacific development West End Residences nearby, which sold 70 percent of the apartments on its first day of launch on April 1.
Located just 3 km south-west of the Sydney CBD, Glebe was traditionally regarded as a working class suburb on the city fringe, but over time has emerged as a hotspot for tertiary education, retail and community living.  
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prateek24-ezbwHMbNAk

Glenmore Meat Co site in Sydney's Glebe sells to Chinese buyer for over $23.5 million 

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A retail building on the beachfront boulevard on Sydney’s Bondi Beach is set to hit the market.
The listing follows a $19.2 million sale at auction last September of the neighbouring Bates Milk Bar.
It sold to Bondi aficionados Allen Linz's Rebel Property Group, Capit.el Group's Eduard Litver and Gil Baron. There was also the $18 million nearby sale by Craig Pontey of Ray White Double Bay of the Bondi Backpackers to the Millett family last November, with plans for a WakeUp! premium hostel group.
The property at 128-132 Campbell Parade comprises 14 boarding rooms and two ground floor retail shops leased to Bondi Surf Seafood’s and Souvenir Plus.
The freehold property is spread over nearly 417 square metres.
The property will be marketed through an expressions of interest campaign closing May 31.
It is being run by Miron Solomons and Matt Pontey of Colliers International. 
The agents said the Bondi market has experienced significant growth since the Bates sale. 
According to Solomons, the property’s mix of residential accommodation and retail offers a diverse income stream with potential for future growth. 
“Bondi Beach commercial is considered some of the most highly sought after in Australia and we expect high levels of interest from high net worth private investors and boutique investment funds, both onshore and offshore, looking to acquire a significant freehold at Sydney’s most iconic beachfront,” said Solomons. 
Pontey said Bondi has always been a tightly held market with only a small amount of properties trading every year.
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jonathanchancellor-7SQnKwU6yx

Campbell Parade, Bondi Beach commercial offering hits the market 

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A retail property in Perth’s Northbridge has just sold for $5.2 million after being taken to auction by JLL on March 9.
Located at <a href="https://www.realcommercial.com.au/property-retail-wa-northbridge-502241906.pdf" target="_blank">185-187 William Street, Northbridge</a>, the shop is the home of grocers Kakulas Brothers and has become a well known local landmark. 
Part of the bustling William Street, it is close to the Perth CBD and surrounded by food and beverage shops. 
The land area is 620 square metres.
The selling agents were Tom Nattrass and Sean Flynn of JLL.
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Inner Perth grocery sells for $5.2 million

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SPONSORED POST
It’s the start of a new year and many businesses may be looking to move office.
Moving an office is a huge challenge that can make moving house feel like a walk in the park – so we’ve collated our top tips for moving offices to make sure the process is as smooth as possible.
Before the move (planning)
<ol>
<li>With the floor plan for your new location, work out at which desk each person will sit.</li>
<li>Assign each desk a number. It’s easiest to sequentially number the desks.  Also alter the number pattern per department. For example, if all your Marketing people sit in one area, assign their desks numbers 100 to 150, your IT Team 200 to 220, Customer Service 300 to 340, and so on. It makes items and areas more easily identifiable.</li>
<li>People with individual offices should have a number assigned to the office.</li>
<li>Match your numbered floor plan with the staff members who will be assigned that desk/office.</li>
<li>Name communal spaces, up to you if you use names or numbers, just make sure they are clear.</li>
<li>Work with IT to ensure all data and power needs are ready (or will be ready) for moving day.</li>
<li>Confirm that you have all details to access the building and that there will be parking available for removalists.</li>
</ol>
Before the move (communications)
<ol>
<li>To the removalists – send them copies of your numbered floor plan so that they have an understanding of the layout ahead of time.</li>
<li>To staff – send clear instructions about the process of packing, along with a cut-off time to have their packing finished. Make sure they understand that any items that are not packed properly will be left behind and then disposed of.</li>
<li>To staff – send a map of the new location so they understand how to get there, where to park, what public transport is available, etc.</li>
</ol>
Before the move (packing)
<ol>
<li>Give each staff member his or her allocated desk number.</li>
<li>Tell staff members to number all boxes, computer screens, hard drives and furniture. Ideally, each item type should be labelled in the same spot (base of the computer screen, top of hard drive, etc).</li>
<li>Filing cabinets should be emptied and locked or taped closed for easy removal.</li>
<li>All keyboards, cables, phones etc should be placed in plastic bags and labelled with their allocated number.</li>
<li>Laptops, tablets and mobiles and any other valuable/personal items should be taken home rather than packed.</li>
<li>Items for shared areas such as kitchens or utilities rooms should be labelled in the same way they are on your floor plan.</li>
</ol>
Before the move (at your new location)
<ol>
<li>Post signs for the removalists with directions to each area. For example, ‘For Numbers 300-500, turn right’.</li>
<li>If you are moving desks into the space, use masking tape, or similar, to plot out where the desks should go. Label each space with its number. Obviously, make sure you’ve measured up ahead of time to make sure everything will fit.</li>
<li>If the office is already fitted out then label the desks with their location number.</li>
</ol>
During the move
<ol>
<li>Depending on the size of the move you may need to arrange to have company representatives at both locations; if there’s more than one truck working, someone needs to be at the new location to meet the first one that arrives while someone stays at the old location until the last of the trucks have completed their work.</li>
<li>Try to have the removalists work on one area at a time, especially in a bigger building. It will ensure you can be there to provide instructions and answer questions.</li>
<li>Wait until everything has been moved in before trying to connect phones and computers. This usually means waiting until the day after the move. You should aim to have all computers connected before staff return to work again.</li>
<li>Before staff return, do a quick check to see that the boxes and items on peoples’ desks correspond with their allocated number.</li>
<li>A nice touch is to create personalized desk labels for each staff member with their name, photo, job title and company logo and leave them on their new desks. It’s a nice surprise for staff and much more welcoming than the location numbers.</li>
</ol>
Before staff arrive
<ol>
<li>Check the building is safe for people to enter, that any rubbish has been removed and walkways are clear.</li>
<li>If the building is big, put up signage with directions for each team to find their way around.</li>
<li>Spot-check all facilities – make sure power, toilets, fridges etc are working.</li>
</ol>
For the latest commercial property news, inspiration and insights, please visit <a href="https://www.realcommercial.com.au/" target="_blank">www.realcommercial.com.au</a>
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jchancellor-FAypfDUnLy

Smooth moves: An office relocation checklist

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Melbourne’s appetite for Woolworths supermarket investments shows no signs of passing.
While the sale of Woolworths Glenroy for about $9.8 million was recently announced, an off-the-plan opportunity at Brunswick has just been listed.
Both were brought to the market through CBRE.
A group of local private investors has snapped up the freestanding Woolworths Glenroy for $9,750,000, reflecting a tight yield of around 4 percent.
Positioned in the northern suburb of Glenroy, the Woolworths supermarket has a remaining lease term of three years. 
The deal follows the sale of Woolworths Middle Brighton which transacted for $32,080,000, at a yield of 3.77 percent, in 2016.
CBRE’s Mark Wizel, Justin Dowers, Kevin Tong and Joseph Du Rieu steered the latest sale campaign. 
“The level of enquiry and interest that we experienced from buyers during the sales campaign was extremely positive, particularly given the short remaining lease term and the prospect of a decline in the turnover rent,” Wizel said.
Dowers said the rental agreement was based on a low base rental, with a significant proportion of the income derived from turnover rent. 
Although rival Coles Coburg North has impacted Woolworths Glenroy, Dowers said investors were ultimately attracted to the opportunity of owning a Woolworths supermarket only 16 km from the Melbourne CBD. 
<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/2017/02/13/WoolworthsGlenroy.jpg" alt="">
Meanwhile, the first Woolworths investment opportunity of 2017 has also been listed. The Woolworths Metro supermarket, Brunswick will be sold off-the-plan and is estimated for completion in 2018.
Pace Development Group are set to sell the ground floor Woolworths Metro Supermarket.
The Woolworths Metro store at 808-818 Sydney Road, Brunswick, will service 86 residential apartments on the seven upper levels of the property. 
CBRE’s Victorian Retail Investments team lead by Mark Wizel, Justin Dowers and Joseph Du Rieu are looking after the sales campaign.
Duane Vella, commercial development manager at Pace, said; “Given the 86 apartments that will be constructed above the supermarket are now sold out, we are confident investors will be eager to secure the retail component as a long term investment.”
Vella said Pace has managed the project in partnership with Woolworths from design to completion which should appeal to the buyer market.
Dowers said there is an increased demand for highly secure retail investment properties being sold off the plan. In the past 18 months the market has seen the sale of Woolworths Launceston, Woolworths North Caulfield and a Bunnings in Yarrawonga all off the plan.
“The pending sale of Woolworths Brunswick is the first metropolitan supermarket in Victoria to be offered to the market since Woolworths Middle Brighton was sold for a record yield of 3.77 percent by CBRE in June 2016.”  
The property will be sold by way of an international public expressions of interest, closing in late March 2017.
 
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Investors make a beeline for Woolworths stores in Melbourne

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A private owner has placed his Woolworths and Big W anchored sub-regional retail centre in the Upper Hunter Region – Muswellbrook Marketplace – up for sale in a move calculated to take advantage of a strong retail investment market.
The single-level mall at 72-78 Brook Street is the single largest landholding in the regional city’s CBD. 
The mall comprises 12,838 sqm of building area on 1.65 hectares.
The Centre includes a Woolworths Supermarket, Big W DDS, three mini majors and 28 specialty stores, and offers an estimated fully leased net annual income of $2.99 million, according to listing agents Steven Lerche and Andrew Palmer of Savills.
The property will be sold by expressions of interest closing March 8.
Lerche said he expected strong interest from investors given the dearth of sub-regional shopping centre assets currently available and particularly those which could offer such significant value add potential. 
“Obviously, Muswellbrook Marketplace offers exceptional income security through Woolworths Limited and Big W et al, but it also offers investors significant scope to add value through a refurbishment and remix and that is going to be particularly attractive to investors in what is set to be a busy 2017,’’ Lerche said.   
According to Savills Research, investors spent $6.5 billion on retail assets nationally in 2016, including $1.94 billion in NSW, pushing yields in some instances below 5 percent.
Lerche said all indications were that demand for well-located assets with strong lease profiles, would be as strong or greater in 2017.
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Muswellbrook marketplace in Upper Hunter region hits the market    

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Showbiz Cinemas will open a six-screen cinema complex at the new Delacombe Town Centre shopping precinct in Ballarat.
Showbiz Cinemas has secured in excess of 1,100sqm of retail space at Delacombe Town Centre to open its latest complex in September 2017 through Colliers International’s Mike Crittenden and Bernard Canning.
Chris Jones, Showbiz group director said it was a logical progression for the company, which currently operates other regional cinemas and also special large scale special event screenings throughout Victoria and interstate.
“We are on a committed and sustainable regional growth strategy and our new Ballarat complex will service existing residents and also cater for the booming growth corridor to the west and south-west of the city,” he said.
Mr Crittenden and Mr Canning, of Colliers International’s Victorian Retail Project Leasing team, are appointed to lease campaign the 20,000sqm (approx.) Delacombe Town Centre on behalf of H Troon Pty Ltd.
Delacombe Town Centre is currently under construction and will feature K-Mart, Woolworths and y more than 37 speciality retailers, kiosks and various pad sites with over 850 free and convenient car parks.
 
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Showbiz Cinemas top open at Delacombe Town Centre

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A securely leased retail property in Melbourne's Surrey Hills is up for sale through Teska Carson with expectations of more than $1 million.
The property, 540 Whitehorse Road, is 210 sqm over two levels on a 217 square metre site.
Tesla Carson's Michael Taylor said the property is currently leased to the Triple King Chinese Restaurant, on a five year term with a five year option at $62,400 per annum.
"Surrey Hills lies within Melbourne’s demographic centre, an area which continues to attract strong residential growth which in turn drives retail and commercial returns," he said.
"The strip has an excellent tenancy history with little to no vacancy and that is a reflection of the strong demand from the surrounding residential catchment."
The property is for sale by expressions of interest closing Wednesday, August 31, at 3pm 
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Surrey Hills Melbourne restaurant up for sale

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The Noosa Junction Plaza neighbourhood shopping centre on the Sunshine Coast has been sold for $16 million to OzProp Holdings.
The property attracted strong interest from investors, with more than 200 enquiries.
Noosa Junction Plaza is set on a corner site at the gateway to Noosa Heads and is anchored by a Prince’s SUPA IGA supermarket, a Target Country store and Sogo Irish Pub. There are other food and specialty tenants as well.
The centre was taken to market late last year via an expressions of interest campaign handled by Peter Tyson, Jon Tyson and Steven Lerche of Savills along with Sashi Makkapati and Nicholas Potter of Cushman &amp; Wakefield.
Tyson said shopping centre had strong embedded real estate value, as it has a landholding of almost one hectare in Noosa’s main retail precinct.
“Noosa Junction Plaza boasts an irreplaceable, high-profile location in Noosa Heads backed by a strong tenancy profile with dual anchor tenants, IGA and Target Country,” he said.
“Quality retail investments remain in very strong demand from investors, and this offering attracted an enormous level of enquiry and multiple offers to purchase. The availability of similar properties has eased since 2014 and 2015, which is only intensifying the demand for the opportunities that do become available.”
Noosa Junction Plaza is a fully-enclosed neighbourhood shopping centre set on a 7,904 sqm site with a total gross lettable area of 5,090sq m. 
This sale follows on from Savills' sale of the Woolworths-anchored Southside Town Centre at Gympie late last year for $28.3 million.
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Noosa Junction Plaza sold for $16 million, as investor demand for retail strong in Queensland

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A BP retail complex with national tenants at Grafton in northern NSW is up for sale through an expressions of interest campaign closing May 31.
The complex at 1-3 Spring Street and 5 Iolanthe Street, South Grafton, is being marketed by Kelly Zeckovic of Ray White Commercial Robina.
The nearly 7,000 sqm site was recently completed and its major tenants, which include Red Rooster, Driven to Espresso, BCF, Anytime Fitness and Bridgestone Australia, have long-term leases with options.
The complex earns a net rental income of about $801,950 per annum and is on two titles available individually or combined, said Zeckovic.
“The site is zoned Business Development and the property offers excellent depreciation advantages,” she said.
The city of Grafton is located on the Clarence River, about 630 km north of Sydney and 340 km south of Brisbane.
 
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