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 Sale

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LYZ Property Group, a subsidiary of Chinese developer Hengmao Group, has reportedly paid $88,888,888 million for Computershare's headquarters in Melbourne.
The Abbotsford headquarters was sold in a leaseback deal.
It was thought the property could fetch around $80 million but fared the especially auspicious price after competitive interest.
Computershare has a seven-year, triple net leaseback with options until 2029. The starting rent will total $5.3 million annually for the two-level office building at 452-484 Johnston Street that comprises around 16,000 square metres of office space, with 485 car spaces.
The property sits on 16,920 sq m with frontage to the Yarra River.
A Chinese family family paid $8,888,888 for a small office building on Melbourne's Collins Street last year.
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jchancellor-FAypfDUnLy

Melbourne office block sells at $88,888,888 

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Industria REIT has sold its 7 Brandl Street, Brisbane Technology Park, for $25.5 million to a domestic buyer.
The sale was negotiated CBRE agents Mike Walsh and Peter Court who described it as a well leased investment grade product. 
The national marketing campaign delivered a total of six offers upon close which was further improved to a cash unconditional position from the successful purchaser.
Offers also came from two offshore parties presenting sharp bids at close of the campaign.
 
Peter Court said he expects continued widespread interest from ‘new’ entrants into the Brisbane market across a range of asset classes which bodes well for 2016 transaction volumes.
The sale of 7 Brandl St in the Brisbane Technology Park for $25.5m was above the book value of $23.15m (c8.4% cap rate). 
The asset has a 5.2 year weighted average lease expiry with a new lease and lease extension completed in 2H16 with Fujitsu (the asset was 88% occupied at December 2015). 
Settlement is due on 31 July 2016 with proceeds to be used to pay down debt.
In 2014 Industria REIT (ASX code: IDR) sold 53 Brandl Street, Brisbane Technology Park for $10.25 million after an unsolicited offer significantly above the 30 June 2014 book value of $9.20 million. 
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prateek24-ezbwHMbNAk

Industria REIT sells Brandl Street in Brisbane

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The Jam Hut recording studio in Carlton has sold for $1.1 million, 40 percent more than the vendor's expectations.
It was a local buyer behind the Preston investment sale two weeks prior to auction.
The 460 sqm property at 569-571 High Street is leased to Jam Hut recording studio, an institution in the Melbourne music community.
It's called the Preston address home since 1978 and the lease runs until 2020.
The sale was secured by CBRE City Fringe and Metropolitan Investments’ Sandro Peluso, Josh Twelftree and Chris Game.
Chris said the strong sale result prior to auction was evidence of the demand for prominently positioned investments with development upside across Melbourne.
“The property drew significant interest from a strong contingent of investors and developers, given the site’s location within the priority development zone, and close proximity to the High Street retail precinct,” he explained. 
 
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j.ballantyne1990-6AQqhLzZaK

Jam Hut recording studio sold above expectations

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A brand new, fully fitted café site in Altona has sold for $1.275 million to a prominent local hospitality operator.
Fitzroys agents James Greyson and Michael Ryan sold the property following an expressions of interest campaign.
The sale reflected a building rate of $3,094 sqm.
The two storey building on a 960 sqm corner site has an area of 412 sqm and includes a first floor function area with balcony.
Gregson said the site was sold with vacant possession and as the only café/restaurant venue in the entire Access Altona Estate represented a chance for both investors and owner occupiers to capitalise on the demand from the surrounding catchment.
He said more than 30 buyer enquiries were received and multiple offers submitted during the campaign. 
 
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Altona café site sold to local hospitality operator

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Ray White Commercial have sold a freehold fruit shop investment to a developer in the acclaimed Heathmont shopping precinct for $900,000.
Previously traded for $150,000 in 1993 and located in Melbourne's east, the property at <a href="https://www.realcommercial.com.au/property-retail-vic-heathmont-501944590" target="_blank">178 Canterbury Road</a> has had the same tenant for 18 years.
It was sold under the hammer by Ray White Commercial Victoria Nunawading Director Brett Diston on behalf of a private owner for a yield of 2.8 per cent.
Diston said the retail site attracted strong interest with more than 100 people attending the auction.
“There was keen competition between three bidders for this property which has a long term tenant on a 5 + 5 year lease,” he said.
“The net rent from the approximately 94 sqm building on a 165 sqm site is approximately $26,000 per annum plus outgoings and GST.”
He said the major selling points were the site's outstanding exposure and rear access in a proven retail strip in Melbourne's east. 
“The site sits within the prominent Heathmont Village shopping precinct on busy Canterbury Road among a number of cafes, restaurants, Heathmont IGA and other retail and specialty stores.”
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Thriving fruit shop sold for $900,000 at Heathmont

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A large Williamstown industrial site has sold under the hammer for $2.9 million.
The 7,081 sqm site at <a href="https://www.realcommercial.com.au/property-industrial+warehouse-vic-williamstown-501937546">64 Tennyson Street</a> was sold to a developer.
It has a combined 241 sqm frontage to Fink Street, Chelmsford Street and Tennyson Street.
Fitzroys agents Chris Kombi and James Gregson handled the auction campaign, in conjunction with Grita Angelucci and Sam Nadde of Property Au.
The site was offered with opportunities for investors, owner occupiers and developers, according to Chris Kombi.
It receveieced more than 60 enquiries throughout the campaign.
Gregson said the property is located in an established and highly sought after industrial precinct in Melbourne’s inner west, with the owner planning to divide the site into around 30 office/warehouse buildings. 
 
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Williamstown industrial site sold for $2.9 million

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A private investor from Queensland has snapped up Aviation House in Canberra for $68.1 million.
The sale by Colliers International director Tim Mutton represents the largest office building deal in Canberra this year.
Located in Woden, Aviation House was sold via an EOI process in conjunction with JLL.
The property is an A-Grade office building comprising 14,812 sqm of high quality office accomodation over nine levels.
It is a fully leased commercial asset underpinned by three Commonwealth Government tenants.
It received interest from international and local buyers seeking to invest in metropolitan markets across the eastern seaboard.
Tim said that Canberra is attracting maiden investors who are finding that supply is becoming increasingly scarce in the Sydney and Melbourne major office markets.
“Major office buildings with Commonwealth leases located in our town centres are seen as attractive investments as the Australian Government considers local impacts before moving tenants out of town centre locations, which we’ve recently seen with Customs and Border Protection staying in Belconnen.
Mutton said that Aviation House represented another strong sale in a Canberra town centre and is great news for businesses in the Woden area, being one of Canberra’s major community and commercial hubs servicing a retail trade area of about 432,000 people and with some 130,000sq m of office space occupied by Government tenants.
Woden has seen an increase in infrastructure projects undertaken by the ACT Government, including the investment of more than $10 million in improving the Bus Interchange and street scapes.
The nearby Westfield Woden Shopping Centre is also to be extended and redesigned.
According to Colliers International research, four major office buildings have sold in 2016 totalling $152.325 million. Tim Mutton expects four more major office buildings to transact before the end of the year.
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Aviation House in Canberra sells for 2016 record

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A BP petrol station at Scone in NSW's Hunter region sold for $4.6 million at a recent Burgess Rawson auction. 
The <a href="https://www.burgessrawson.com.au/buying/NSW/Hunter-Valley-~-Upper/Scone/Retail/2P1190#.V0T6JyN96u6">26 Kelly Street, Scone</a> service station/convenience store with 4,224 sqm land holding was built in 2010.
There is a 10-year lease in place from March 2010 with further options until 2030.
The selling agents were Simon Staddon and Stephen Lovison.
The tenant pays all outgoings, as per lease and net income is $348,576 pa + GST.
The service station sold on a 7.6 per cent yield to a Sydney landbanking family, according to a report in the Australian Financial Review. 
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BP service station in NSW's Scone scoops $4.6 million at Burgess Rawson auction

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Property fund manager Charter Hall Group (ASX: CHC) and Morgan Stanley Real Estate Investing (MSREI) have together bought One Shelley Street, leased to Macquarie Group, in Sydney's Darling Harbour for $525 million.
Charter has also underwritten the purchase of an $82 million portfolio of assets which form the basis of the Charter Hall Direct Automotive Trust 2 (DAT2), the second DAT retail syndication trust by Charter Hall’s Direct Property business, said a media release.
The transaction was through a trust created by Charter Hall’s Core Plus Office Fund (CPOF) and sponsored by Morgan Stanley Real Estate Investing. The new trust will be managed by Charter Hall, and has increased Charter Hall’s total funds under management to $17 billion, including over $8 billion in the office sector.
One Shelley Street is a prime-grade office building leased to ASX-listed Macquarie Group, and also popularly referred to as the millionaire's factory.
The site is secured with a weighted average lease expiry (WALE) of 7.5 years.
“The acquisition of 1 Shelley Street secures for CPOF a strategic property in Sydney’s fastest growing office precinct, improving the WALE and average building age of the CPOF portfolio, whilst also improving the average rental growth profile for the Fund, with One Shelley Street featuring annual 4% increases,” Charter Hall’s CPOF fund manager Craig Newman said.
Charter Hall’s managing director and CEO David Harrison noted that momentum across all sectors continues, with equity flows directed to high quality defensive real estate.
“Core office remains attractive to both local and international investors due to the current spread between Australian property income yields and bond yields." 
Additionally, Charter Hall has launched DAT2, which comprises a portfolio of four established and new automotive dealerships, 100% leased by Automotive Holdings Group (ASX:AHG) on long-term leases.
DAT2 seeks to raise $48 million in equity and expects to offer a stable earnings stream with an initial distribution of 7.25% for years one and two, and the prospect of capital growth over the initial six-year period.
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Charter Hall, Morgan Stanley arm buy One Shelley St building for $525 million 

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An 1830's Georgian property in Hobart has fetched $7.8 million at auction, well above the reserve price, through Knight Frank.
The three-story sandstone property at 21-23 Salamanca Place is close to Hobart’s popular Salamanca Markets, as well as the upcoming Parliament Square, currently in development, which is set to become the heart of Hobart.
“The Hobart investment market is as strong as we have experienced historically... yields are now breaking below six per cent consistently, with this property receiving the lowest yield on record to our knowledge for an investment property in Tasmania," said Scott Newton, chief executive officer, Knight Frank Tasmania.
Total net annual rent is estimated at $271,206, and the yield works out to be 3.47 percent.
The ground floor is tenanted by Irish Murphy’s tavern, with the upper two levels consisting of renovated offices. On the third floor is the ‘Salamanca Loft’, a refurbished two-bedroom unit featuring painted sandstone walls, two skylights in the lounge and a glass atrium. The apartment is utilised to accommodate tourists.
"Irish Murphy's" tenancy lease runs until July 2019 with a further five-year option. Current rent is $213,932 plus GST, plus outgoings. Parliament Square will comprise a mix of office, hotel and retail spaces, with heritage buildings surrounding it expected to be restored. This will only add to value for 21-23 Salamanca Place.
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