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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A popular youth hostel in Sydney’s Collaroy is on sale as part of a development site with price expectations of more than $10 million.
The YHA hostel at 4 Collaroy Street and 1 Alexander Street properties are being offered as a consolidated 2,570 sqm development site, on behalf of a local private investor, says the description on commercial property firm CBRE’s website. 
The Sydney Beachouse YHA won the best budget accommodation in NSW award in 2000. The hostel has 65 rooms, a pool and is close to Collaroy Beach.
The 1 Alexander Street property is a three-level apartment block comprising five residential units, a storage unit and three retail stores including a café and physiotherapy. 
The site last traded in 1995 for $485,000, according to RP Data
CBRE’s Aaron Arias, Toby Silk and Nicholas Heaton are marketing the properties. 
<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/2017/05/08/collaroyYHA.jpg" alt="">
 
Arias said the listing offered buyers a multi-faceted opportunity in an undersupplied market.
“The Northern Beaches market is undersupplied for quality development sites with holding income. The two properties offer prospective purchasers an opportunity to acquire a key site featuring strong rental income with the promise of high development upside due to favourable planning controls,” said Arias.
House prices in Collaroy had more than doubled since 2010, added Silk. “Given these properties have never been offered before and the size of the holding, we expect significant interest from developers who are seeking to establish a landmark, mixed use development in the heart of the Northern Beaches,” said Silk. 
The combined gross income of the two properties totals $610,200 per annum. 
The site is being offered through expressions of interest closing May 31.
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Collaroy hostel part of combined sale, expected to fetch over $10 million

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The historic Southern Highlands pub and hotel The Briars has been listed for sale.
It reportedly could fetch more than $12 million.
The NSW Southern Highlands' trophy property, the Briars Country Lodge and Historic Inn near Bowral, has been listed for sale by its owners the Duffy family.
It was built in 1845 as the Royal Oak Inn.
The Georgian-style property became a country hotel with the addition of 31 guest suites, a guest lounge and lakeside conservatory in the 1980s.
Situated on 3.8 hectares off Moss Vale Road, the Briars is currently operated by Dawn Strauss of Blanch Street Investments and returns $889,000 in net rent per annum with a lease in place until 2024. 
The last reported sale was in 1997 when it sold for $4.7 million at auction by a consortium of wealthy Sydney Eastern Suburbs families that included the Myersons, Solomons and Falks.
The Briars is being marketed by Gerry Quinlan of Manenti Quinlan &amp; Associates Pty Limited along with Cooper Hotel Brokers who are expecting The Briars to sell on a yield of about 7 percent. 
 
 
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j.ballantyne1990-6AQqhLzZaK

Southern Highlands pub The Briars listed for sale with expectations above $12 million

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Five fully leased Victorian childcare centres have sold for more than $44 million – an average of $8.8 million each — have set new national benchmarks for the sale of individual centres, according to Savills and underscoring the booming childcare market. 
The five centres at Ashwood, Mentone, Blackburn North, Hughesdale, and Carnegie – all in Melbourne’s east, were listed last month as a whole or individually in the first such sale of its type in the Melbourne market. 
Their listing came amid the federal government’s push through its $1.6 billion childcare package reforms providing families with fee relief of up to $3,400 a year.
All the centres offered long, secure leases, blue-chip tenants, and modern buildings underpinned by strong land values, said the selling agents from Savills.
The five childcare centres generated an average 5.3 per cent yield. 
The previous record sale price for an individual centre in Australia was $7 million for a Vermont property in March and before that the $6.8 million paid for a property at Camberwell in March last year, also through Savills.
According to Savills’ Julian Heatherich, who marketed the properties with Clinton Baxter and Benson Zhou, expectations the centres would sell for $7 million to 9 million each, or $50 million for the whole portfolio had been borne out with two properties selling for more than $8 million and three for more than $9 million.
“This was a brilliantly assembled portfolio combining exceptional landholdings, quality buildings, geographic diversity and a tenancy profile that is rarely available elsewhere in the commercial property market,” said Heatherich.
“Put this together with built-in rental growth and significant income tax depreciation benefits in a rapidly growing, government backed industry and they represent great value and that was reflected in the results so far.’’ 
The five centres include:
<ul>
<li>66-70 High Street Road, Ashwood -   15 year lease at $486,218 pa net – sold $9.1 million on 5.34% yield</li>
<li>105A Kangaroo Road, Hughesdale (above) -   20 year lease at $545,879 pa net– sold $9.75 million on 5.6% yield</li>
<li>103-107 Koonung Road, Blackburn Nth -  20 year lease at $498,015 pa net– sold $9.28 million on 5.37% yield</li>
<li>1 Toolambool Road, Carnegie -   20 year lease at $438,697 pa net– sold $8.2 million on 5.35% yield</li>
<li>37 Venice Street, Mentone -   20 year lease at $367,822 pa net– sold $8 million on 5.44% yield</li>
</ul>
The tenants include several leading companies, including the ASX-listed G8 Education, national provider, Guardian Early Learning, and Nino Early Learning Adventures.
He said investor appetite for well-located childcare investment properties was as strong as ever, with an increasing number of local and off-shore investors appreciating the combination of fundamental investment attributes available within this booming sector of the market. 
Heatherich said key drivers of the childcare market had been the rapidly growing nature of the childcare sector, the confidence that comes from the strong support the sector has from the federal government, and Victoria’s strong population growth.
An estimated 1.67 million children attended approved care in 2015‑16, while approximately $7.3 billion was provided by governments in childcare fee assistance, according to Department of Education and Training data.
The commercial childcare property market has grown into a standalone asset class over the last few years with occupancy levels positive and income levels stable, adds Ray White Commercial’s head of Research, Vanessa Rader.
In New South Wales, the demand has continued to be robust in 2017 with strong yield compression, particularly in metropolitan Sydney, according to research by Ray White Commercial.
The real estate agency's NSW director, Michael Ajaka, said almost $120 million changed hands in the NSW childcare market in 2016 with 80.22 per cent of assets located within metropolitan Sydney.
“The start of 2017 looks to continue this increase in activity with the first four months representing more than $25 million in sales with a heavy weighting (61.03 per cent) towards regional areas,” Ajaka said.
 
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Five Melbourne childcare centres set record with $44 million sale: Savills 

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The Coolibah Hotel in Merrylands has sold for a rumoured $40 million by the Vlandis Group.
According to reports in the Australian Financial Review, the property sold for around $40 million, with the off-market deal, netting a yield of about 8 percent.
Andrew Jolliffe, Asia Pacific Director of the Ray White Group said the sale of the hotel marks the highest freehold going concern sale achieved nationally to date in 2017.
"Our client identified this time in the market as a suitable exit point at which to conclude its long term investment in what is truly an outstanding hotel property spanning some 8500 symmetrical sqm," he said.
"The profile of the purchaser, much like the vendor, is one of an established and very well respected hotel group.
"The market has been patently well supported by sophisticated on and off-shore investor groups, and we feel this trend will continue.
"We've spoken openly, regularly and confidently in the past about the emergence of the Super A-Grade hotel category, and the applicable yields associated with irreplaceable hospitality assets such as the Coolibah Hotel."
The sale beats Merivale's Justin Hemmes paying $37.05 million for the Tennyson Hotel in Mascot late last year.
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Sydney's Coolibah Hotel sold for record $40 million

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Newspaper House, a historic building in Melbourne’s Collins Street, has sold for $35 million, the latest in a run of strong commercial property deals in Melbourne's prime business district.
Singapore-listed construction company Lian Beng, which bought the property at 247 Collins Street in 2015 for about $23 million, sold it off to Malaysian conglomerate Oriental Holdings Berhad, according to The Australian Financial Review.
This latest deal was transacted on a yield of 4.2 per cent.
Built in 1884, Newspaper House was purchased by newspaper baron Sir Keith Murdoch's Herald and Weekly Times for £90,000 in 1932. 
It was given a facelift, with a new facade and a mosaic mural designed by Napier Waller in 1932.
Mervyn Napier Waller's "I'll put a girdle about the earth" features heroic human figures appear among scenes of commerce, construction and communication.
There's lots of gold, an echo of the Byzantine era, in the 1933 commission by Sir Keith Murdoch who needed more than an empire on Flinders Street.
Soon after the acquisition by the Singapore firm Lian Beng, the building was was leased out, including to Bupa Australia.
The property was put back on the market earlier this year.
"The property was incredibly well received by both the local and offshore markets," said CBRE’s Josh Rutman.
The deal was brokered by CBRE's Josh Rutman along with Knight Frank's Paul Henley.
Lian Beng was represented by Eu Ming Lim of of law firm Thomson Geer.
New buyer Oriental Holdings Berhad has other investments in the Melbourne market through its subsidiaries.
The transaction is another high-profile deal on Collins Street, including the sale of 395 Collins Street to private investor Yong Quek last year and AMP Capital's acquisition of 425 Collins Street, the AFR reported.
 
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Historic Newspaper House in Melbourne changes hands for $35 million 

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A tenanted commercial building in Melbourne’s iconic retail strip Chapel Street is set to go under the hammer on May 18.
Located at <a href="https://www.realcommercial.com.au/property-offices-vic-prahran-502364494" target="_blank">228-230 Chapel Street, Prahran</a>, the building consists of two shops and a first floor office with mezzanine apartment.
The combined rent from the property is $250,756.36 plus GST with upside potential.
The land area is  277 sqm while the floor area is 569 sqm.
The building has been fully refurbished and the three titles are being offered as a whole.
Its zoning is Commercial 1. The listing agents are Joseph Walton, James Gregson and Michael Ryan of Allard Shelton.
It last sold in 2006 at $2.89 million.
 
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Tenanted building in Melbourne's Chapel Street set for auction 

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Terrara House, the Georgian-style wedding venue on the New South Wales South Coast is on the market with a price guide of between $7.5 million to $8.2 million.
It last sold in 2004 for $5 million to radiologist Derek Glenn.
The property was previously owned by horse trainer Etienne De Mestre.
De Mestre trained two-time Melbourne Cup winning thoroughbred Archer. 
He sold the property in 1886 to pastoralist Hugh McKenzie.
The home, built in 1904, has 23 rooms and features restored stables and a day spa.
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Georgian-style Terrara House on NSW south coast for sale

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A mixed-use converted industrial warehouse in Brunswick West is on the market with price expectations between $850,000 and $935,000.
The property, <a href="https://www.realcommercial.com.au/property-industrial+warehouse-vic-brunswick+west-502331706" target="_blank">487 Victoria Street, Brunswick West</a>, Victoria is both a residence and Airbnb accommodation with existing plans and permits for an office and two bedroom home.
Built with concrete floors, exposed brick and timber trusses, the ground floor of the approved three level building has potential for modern office facilities with meeting and training rooms, kitchenette, partitioned office spaces and bike storage.
Plans for the top two levels are designed to offer open plan living and dining and a rooftop terrace.
Lydia Wild from Brad Teal Real Estate has the listing.
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Industrial chic in Brunswick West

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A three level commercial building in Sydney's Chinatown has sold at auction for $19.9 million.
The property, 82-84 Dixon Street, Haymarket, is on land sized 342sqm and has 14 metres of Dixon street frontage with a total lettable space of 983sqm.The ground floor features retail spaces, with upper levels retail and residential. Current tenants include the Hingara Chinese Restaurant and Live Crafts Centre.
Dominic Ong, Knight Frank’s head of Asian markets, Australia said the premium location of the Dixon Street property, as well as its redevelopment potential, made it a highly attractive opportunity for investors.
“There were over a hundred people at the auction, with multiple competing bidders," he said.
"Chinatown is a tightly-held area and opportunities like this don’t come along very often.
"The last standalone property to sell on Dixon Street, Pedestrian Lane, was some 30 years ago, and this property has been with the same family for about 100 years." 
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jchancellor-FAypfDUnLy

First-in-a-century commercial property sale in Sydney’s Chinatown

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Melbourne’s well-known Bourke House, a retail and office building, has recently sold for an undisclosed sum.
Located at <a href="https://www.realcommercial.com.au/property-retail-vic-melbourne-502120018" target="_blank">179-183 Bourke Street</a>, the six-level freestanding retail and office building comprises shops on the ground floor and modern upper level office accommodation. 
The building is fully leased to a range of high profile retail and office tenants with a net passing income of $1,400,000.00 pa with fixed annual increases (nearly 60% of income derived from retail tenants).
Built in 1923, Bourke House is a heritage protected building. It last exchanged hands in 2014 for more than $11.5 million, according to Fairfax Media. 
The corner property has a floor area of 2,529 sqm with triple street frontage. It is positioned in the heart of Melbourne's CBD between the city's Retail Core and Paris End.
There is redevelopment potential with highly flexible floor plates allowing for office/retail reconfigurations, subject to council approval.
The selling agents were Josh Rutman,Mark Wizel and Lewis Tong of CBRE and Raoul Salter, Michael Gross and Jonathon McCormack of Gross Waddell.
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