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

<html><body>
The NSW government has sold off a commercial office building in the heart of Blacktown for $17.15 million.
Blacktown City Council has been selected as the preferred buyer for the six-story building at 22 Main Street, after an open market tender.
The building will be leased back to the state government to meet the occupancy needs of government tenants, that includes the Department of Education, WorkCover NSW and Juvenile Justice.
“The sale and leaseback of this property not only releases capital upfront to reinvest into infrastructure and services for the community, it also maintains government jobs in Blacktown’s CBD,” said Brett Newman, the CEO of Government Property NSW, while announcing the sale.
Newman said the sale aligns with the principles outlined in the Property Asset Utilisation Taskforce (PAUT) report, which state that government should only own real property assets to support core service delivery.
The sale of 22 Main Street was managed by CBRE.
</body></html>

j.ballantyne1990-6AQqhLzZaK

NSW government's sale of Blacktown building fetches $17.5 million

<html><body>
A prominent investor has purchased a Fitzroy North development site for $14.05 million at auction.
The <a href="https://www.realcommercial.com.au/property-land+development-vic-fitzroy+north-501743886" target="_blank">81-89 Queens Parade</a> site – a 3,201 square metre corner landholding – saw strong bidding from local and offshore buyers.
The freestanding corner building sold to a prominent local investor for $14,050,000, working out to a rate of $4,382 per square metre.
The selling agents were CBRE in their sixth recent transaction where local buyers had elbowed out offshore groups.
</body></html>

Melbourne buyer secures Fitzroy North site for $14.05 million 

<html><body>
The Four in Hand Hotel in Paddington is the latest freehold hotel to sell in Sydney's eastern suburbs.
Publican Mitchell Waugh's Public House Management Group added again to its portfolio acquiring the popular pub for around $8 million.  
The sale was brokered by Andrew Jolliffe and Joel Fisher of Ray White Hotels. 
PHMG's strategy is to acquire iconic hotel operations on valuable land including Mosman's Buena Vista, <a href="/expert-insights/investing/ryan-family-sell-woollahra-hotel-to-waugh-group">The Woollahra Hotel</a> and Paddington's Royal Hotel. 
The past four acquisitions had all been predicated upon acquiring inherently valuable real estate, with historically robust cash flow businesses, Fairfax Media reported.
The Four in Hand, which was offered by a syndicate headed by industry veteran Joe Saleh and chef Colin Fassnidge, attracted more than 45 inquiries.  
Andrew Jolliffe has now secured over $185 million worth of sales in the eastern suburbs in recent times including the Surry Hills hotel, The Dolphin.
"The 4, as it is affectionately known, is an institution in the Sydney pub landscape," Mr Jolliffe said.
"Melbourne has a number of these great food and beverage icons like the Four in Hand, however, unfortunately they are few and far between in Sydney. That's why this is such a special hotel."
It had over $4.75 million in total sales in FY2015.
The 375 sq m Paddington corner holding had a recent $1 million renovation.
Lantern Hotels CEO John Osborne confirmed that the sale of the Dolphin Hotel was in line with the group's previously publicized strategy following an internal positioning review earlier in 2015.
"The Lantern Board and Management have taken the view that the repositioning of the company is a necessary step to unlocking shareholder value.
"Accordingly, the divestment of the Dolphin Hotel is both an important and positive step in order to focus the company's core competencies and resources into the areas which will provide the greatest outcome for shareholders" said Mr Osborne.
While not willing to disclose the identity of the purchaser, Andrew Jolliffe advised the purchaser was illustrative of the changing complexion of investors in the hospitality sector.
"He has enjoyed considerable success in an alternative but not entirely unrelated industry; and now applies this invaluable retail and marketing experience base to a sector which, fundamentally, is all about retail and marketing" Mr Jolliffe said. 
"The purchaser of the Dolphin Hotel owns other hugely successful hospitality properties in Surry Hills and the broader Eastern Suburbs, and will undoubtedly draw on this knowledge bank to provide the Dolphin with a narrative that will see it participate prominently in the changing face of the Surry Hills and Moore Park precincts over the coming years" Mr Jolliffe believes. 
 
</body></html>

jrobinson-rf4aSBido9

Four in Hand Hotel, Paddington sold to PHMG

<html><body>
The former Hugo’s Pizza Bar and Lounge in Sydney's Potts Point has sold separately for $1.685 million and $2.65 million respectively at auction to local investors.
Located at <a href="https://www.realcommercial.com.au/property-retail-nsw-potts+point-501747730" target="_blank">33 Bayswater Road</a>, the two lots comprised the former Hugo’s Pizza Bar and the former Hugo’s Lounge,
Both sold with vacant possession.
The Pizza Bar, which fetched $1.685 million, was situated on the ground floor and consisted of four strata lots, spread over nearly 159 square metres.
Both lots were sold via public auction on Tuesday on behalf of Properties King Cross Pty Ltd through Robert Lowe of Savills International Sydney. 
The Hugo’s Lounge night club, which sold for $2.65 million, was on the first floor area and consisted of four strata lots spread over nearly 732 square metres, plus two car spaces.
The strong bidding meant both properties exceeded their reserve prices.
“This was an outstanding opportunity for potential owner occupiers, investors, or developers to either reuse the space as a restaurant, night club, or other retail or, commercial uses," said Lowe. 
There is the option to potentially reconfigure the first floor area into commercial or residential use, subject to Council Approval, he said.
“Potts Point has changed considerably over the years with older style buildings being converted into upmarket residential apartments and the perfect positioning of this property would make it an ideal redevelopment project,” Lowe said.
Hugo's Lounge closed blaming the lockout laws that came after alcohol-related violence in Kings Cross.
</body></html>

Closed Hugo's Potts Point Pizzeria lounge and bar sold through Savills

<html><body>
A steady stream of private Melbourne investors have snapped up some of Queensland’s prime retail investment properties this year, attracted by the state’s solid growth fundamentals, according to real estate firm MMJ Melbourne.
Director of MMJ Melbourne, Joel Wald, said there was heightened interest from Melbourne’s private investors looking for properties close to Queenland’s CBD areas.
A private Melbourne investor recently bought a property at 66 Dalton Drive, Maroochydore for $6.84 million. The property was designed and constructed for Officeworks as a relocation to an area earmarked as a new CBD.
The sale was through MMJ Melbourne.
Earlier in the year, MMJ Melbourne also sold 130­134 Gympie Road, Strathpine, Queensland to another private Melbourne investor for $11.5 million. Tenants included Officeworks, Flip Out, a medical centre and pharmacy.
Private investors have also snapped up a Bunnings Springfield warehouse for $40 million(above), and another Officeworks at 176 Ipswich Road, Woolloongabba.
“These are significant properties, and Melbourne investors clearly like the confidence that Queensland is proposing for retail investment at the moment. The vote of confidence investors see from big companies, like Officeworks, committing to these areas further reinforces this,” said Wald.
One of the key fundamentals is Queensland’s growing population. It was estimated at 4,722,450 persons in June-end 2014 , a rise of 70,540 from June 2013. This was the third largest population increase of any Australian state or territory over this period after New South Wales and Victoria.
“Obviously, population growth is one of the key fundamentals of retail investing, and at the moment, for Queensland, this is its strongest selling point,” said Wald.
The just released NAB Quarterly Australian Commercial Property Survey Q3 2015 said that while overall sentiment has moderated a little, it still remains at elevated levels. The survey suggests capital growth for the next 1­2 years will be strongest for office property, followed by industrial and retail.
Positive rental returns are also forecast in all sectors in the next 1­2 years, led by big upward revision in expectations for office rents (especially Victoria).
“All in all, we’re seeing very solid commercial property prospects across the board as we close out this year and enter into the next.
"Given this, I expect to continue to see strong demand from my clients in Melbourne to the sunny state as we enter 2016”, said Wald.
</body></html>

Melbourne investors lured to Queensland by retail investment opportunities: MMJ Melbourne

<html><body>
Adelaide-based Harmony Property Syndication has paid $10.75 million on a yield of 7.1% for an industrial property at Hallam in Melbourne’s southeast.
The <a href="https://www.realcommercial.com.au/property-industrial+warehouse-vic-hallam-501611261" target="_blank">1-5 Siddons Way</a> property was sold subject to a long-term lease, expiring in 2026, to national tenant Pakcentre Marketing Services, at a current rental of $765,920 per annum net.
It comprises a 9,574 square metre office and warehouse, with nine metres clearance and canopied loading docks, on a 15,300 square metre allotment.
The sale was through Savills Australia's Chris Jones and Ben Hegerty.
Jones said the price reflected the tightly held market and the lack of stock in the price range.
Hegerty said the property attracted a high level of enquiry from local, interstate and off-shore investors looking for attractive yields, secure lease profiles, prime locations and potential
upside. He said the demand continued to put yields under pressure with many recent sales pushing the 7 percent barrier.
The vendor was a private group of interstate investors.
Established in 2003, Harmony specialises in establishing and managing commercial real estate syndicates on behalf of investors. Harmony currently has 21 separate property investment syndicates with a combined value of more than $260 million of funds under management.
</body></html>

Adelaide syndicate pays $10.75 million for Hallam property through Savills

<html><body>
A classically designed Victorian-era freehold building in Melbourne's CBD is going under the CBRE hammer on December 10.
The five-level freestanding building at <a href="https://www.realcommercial.com.au/property-retail-vic-melbourne-501767410" target="_blank">8 Drewery Place</a> formerly housed Sniders and Abrahams cigar manufacturing factory dating back to 1890.
This part of Melbourne saw a concentration of tobacco-oriented firms that established large factories and warehouses in the late Victorian-era and Edwardian period.
The 490 Flinders Street property fetched $4.1 million, about $1 million above the reserve price and for a yield of 2.33%.
About 8 Drewery Place, Rutman said it is one of the only properties of its kind in the street, with most others having already been converted to residential apartments.
“The building has been owned within the same family for a generation and provides a very exciting investment prospect as well as genuine potential to convert, subdivide or redevelop in the future,” Rutman said.
The building is expected to go in the range of $15 million.
The property is located just behind Swanston Street and is wedged within what is fast becoming known as the “Golden Triangle” of city retail – between Melbourne Central, Emporium and the QV Complex.
The name of the lane was changed in 1872 from Brewery to Drewery Lane. According to the City of Melbourne Planning Scheme, it was named after the chemist Thomas Drewery, who was elected a City Councillor for Gipps Ward in 1851.
According to historian Weston Bate, however, it was named after London's Drury Lane.
Today, the ornate building houses a range of retail and office tenants and has seen a dramatic increase in pedestrian activity as the CBD has grown its permanent residential, student and tourist populations. It sits directly adjacent to an entry point into Melbourne Central Shopping Centre which also drives pedestrian flow and retail activity in the laneway.
</body></html>

Historic Melbourne CBD building listed for sale

<html><body>
Cromwell Property Group has agreed terms for the sale of an office tower at 100 Waymouth Street in Adelaide for $73 million.
The sale price represents a premium of 17.6% over the book value of $62.1 million, a yield of 6.775% and a capital value of approximately $6,000 per square metre, reflecting continued strong investor demand for commercial office stock in major capital cities.
Cromwell CEO Paul Weightman said the company would continue to look to take advantage of market conditions to improve its $2.1 billion portfolio of direct property assets.
The property has <a href="https://www.cromwell.com.au/property-portfolio/south-australia/289/100-waymouth-street" target="_blank">12,305 square metres of net lettable area</a>, is fully tenanted and has a Weighted Average Lease Expiry (WALE) of 8.1 years.
It comprises a ground floor and 12 upper levels of office accommodation.
The building was commissioned in 1989 as the headquarters for the South Australian Workcover Corporation, which occupied it until June 2012.
The tower has since undergone a full refurbishment, achieving a PCA A-Grade rating. Cromwell acquired it in April 2003.
Origin Energy solely occupies the commercial floors with Beyond Bank occupying the ground floor retail space.
The property is close to public transport, retail, restaurants and cafes.
The sale is expected to settle on December 10.
</body></html>

Adelaide commercial tower sells for $73 million

<html><body>
Eight properties in Canberra belonging to betting company Tabcorp have sold at auction for a total value of $6,171,500.
The selling agents were JLL’s Michael Heather and Greg Lyons and the auction was on November 26.
Three properties were offered with a new initial seven-year lease term to Tabcorp with 2 x 5 year options. The
remaining five properties were sold as vacant possession.
The three leased properties were sold for a price range of $800,000 to $1,120,000 and reflected initial yields of between 4.71% - 5.29%.
The five vacant properties were sold for a price range of $590,000 to $741,500 and reflected sales values from $5,224 - $7,234 per square metre.
“The strong yields achieved for the leased properties exceeded market expectations and is reflective of the yield compression trend that has been experienced in other markets around Australia,” Heather said.
The eight properties were:
20 Brierly Street, Weston sold for $1,120,000. The initial yield reflects 4.78% on a passing net income of $53,491 per annum.
30 Denigan Street, Wanniassa sold for $950,000. The initial yield reflects 5.29% on a passing net income of $50,252 per annum.
99-103 Georgina Crescent, Kaleen sold for $800,000. The initial yield reflects 4.71% on a passing net income of $37,677 per annum.
56 Hawker Place, Hawker sold for $670,000, reflecting a capital value of $5,781 per square metre.
1-3 Primmer Court, Kambah sold for $741,500, a capital value of $7,234 per square metre.
23 Charnwood Place, Charnwood sold for $600,000, or a sales value of $5,545 per square metre.
55 Curtin Place, Curtin sold for $700,000, or a sales value of $5,224 per square metre.
71 Mawson Place, Mawson sold for $590,000, with a capital value of $6,556 per square metre.
</body></html>

Eight Canberra Tabcorp properties sell at JLL auction for $6,171,500 total 

<html><body>
A speculatively built industrial property comprising six units at Braeside in Melbourne’s south-east has sold for a total of $1.84 million and an average $2,200 a square metre.
Developed by Melbourne-based Ballantyne Builders, the units ranging from 123 to 162 square metres, sold before completion. 
Located at 20 Canterbury Road in a well-established industrial estate, it boasts of tenants such as Nissan Motorsport, Fabtronics Australia and Weber Performance.
"The units were designed to meet pent-up demand in this sector and with few similar units of comparable price and quality available, were quickly taken up," said Chris Telley of Savills, who brokered the deals with Gareth Jackson and Nixon Industrial.
He added that the quick sales were driven by the price point, truck access, secure premises, and size. They are close to Wells Road, Governor Road and Springvale Road.
"Ballantyne seized on a market opportunity and were well rewarded,’’ Telley said.
</body></html>

Commercial Sale

Editor's Picks

Have something to contribute?

Developments

New apartments

New townhouses

News

Commercial Sale

Editor's Picks

Receive the latest news stories to your inbox

Have something to contribute?

Developments

New apartments

New townhouses

News