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 historic north-east Victorian hotel at Rutherglen has been listed for sale.
The Victoria Poachers Paradise Hotel, located at <a href="https://www.realcommercial.com.au/property-hotel+leisure-vic-rutherglen-502192070" target="_blank">120 Main Street</a>, sits prominently in the busy tourism centre.
The public bar adjoins a large TAB area, and a busy bistro area with commercial kitchen.
There is also a traditional beer garden, two separate function areas plus a two bedroom manager’s residence.
It has been marketed as suggesting incoming owners can enjoy the benefits with an excellent buyer’s yield of 55% with strong trading derived from locals and tourists with lease options until 2044.
The property is offered through CRE Brokers agent Ian McDonald.
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Historic hotel at Rutherglen for sale

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A flagship retail building in Fitzroy, Melbourne is for sale.
The 1460 square metre property at <a href="https://www.realcommercial.com.au/property-retail-vic-fitzroy-502131182" target="_blank">411-421 Smith Street</a> has two multinational tenants in the renovated two storey building.
Recent renovations haVE improved the building with more modern additions on the way.
Currently both floors feature high ceilings creating an open air retail/office experience.
There is a new entrance way upstairs that features an all-glass and metal lift.
There are works to create wider, new shop fronts and windows.
Smith Street’s evolution and gentrification is evident with brand new mixed use developments and renovated shops near the property.
Both tenants in the property are happy with lease term kept in line to allow for future development/owner occupation, should this be required.
The majority of the ground floor is leased by Kathmandu, who have occupied it for over 10 years, the remaining tenancy is occupied by Carryology, while the entire first offer is leased by Bellroy Operations.
The property is offered through TCI Property Consultant agent Jack Teneketzis.
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Flagship Kathmandu retail building in Fitzroy for sale

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A vacant RSL building at Cunnamulla is for sale.
Located at <a href="https://www.realcommercial.com.au/property-other-qld-cunnamulla-502191814" target="_blank">14 Louise Street</a>, the property comes with a large lawn area and outdoor entertainment facilities.
It boasts a billiard room and dining with hardwood floors, boardroom, reception area with office, storeroom and adjoining cold-room, kitchen and services and loading deck.
There is also a ladies lounge into a games room, as well as similar amenities.
The property is offered through GDL – Real Estate agent Rebel Ickeringill.
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Vacant RSL building at Cunnamulla for sale

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A prestige commercial investment in Concord is for sale.
Located at <a href="https://www.realcommercial.com.au/property-retail-nsw-concord-502192390">50 Mortlake Street</a> the 228 sqm zoned B2 Local Centre property is an impressive two-level building with dual street frontages and eye-catching exposure.
It is leased to Antoine’s Grill, a popular restaurant that has been awarded Chef Hat 2015 and featured in AGFG and Sydney Morning Herald’s Good Food Guide.
The restaurant includes commercial kitchen, indoor and council approved outdoor seating areas, a fully licensed bar, polished timber floorings, floor-to-ceiling bi-folding doors, a grease trap, cool room, storage, M/F amenities and rear lane access to secure off-street parking.
It is a short distance to ample street parking, bus stops and Mortlake ferry wharf with close proximity to Concord Golf Club, Concord RSL, Parramatta Road’s vibrant business districts and surrounding neigbourhoods such as Rhodes, Strathfield and Five Dock.
It has direct access to major traffic routes such as Major Bay Roads, Concord Roads, Lyons Road, Victoria Road and M4 Motorway.
It is offered through Gerald Cole Property Consultants agents Gino Anzini and Steven Poller.
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Property leased to Antoine's Grill at Concord for sale

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A commercial property in Glebe has sold prior to its auction for $3.55 million, the first time its traded in over 20 years.
It was set to go under the hammer on November 19 through LJ Hooker agents Nicholas Katsikaros, Branko Strehar and Akanksha Chaudhari, but it sold three days before.
Refurbished and constructed in 2015, <a href="https://www.realcommercial.com.au/property-retail-nsw-glebe-502145074" target="_blank">79 Glebe Point Road</a> has 365 sqm of external and internal dining capacity.
There are three storerooms, a cool room and rear parking for six vehicles behind its period facade.
It offers a current incomew of $156,000 per annum leased to Turkish restaurant Otto Noorba until May 2021 with two five year lease options.
It last sold for $585,000 in 1993.
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Glebe home of Turkish restaurant Otto Noorba has sold

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Melbourne's Tavistock House in the middle of the CBD has been sold at auction for $7.9 million.
The iconic triple-storey corner freehold building at <a href="https://www.realcommercial.com.au/property-retail-vic-melbourne-502136982" target="_blank">383-387 Flinders Lane</a> comprises a 442 sqm land parcel and over 42 metre triple street frontage.
It's surrounded by major corporate headquarters, Melbourne’s finest restaurants, luxury retail, high end hotels and entertainment as well as all forms of public transport.
It was offered with up to 12 months settlement and has traded for the first time in over two decades. It last sold for $600,000 in 1993.
It comes part leased to established tenants.
Colliers International handled the sale with <a href="https://www.instagram.com/p/BM8YKO8BslB/?taken-by=cooleyauctions" target="_blank">Cooley Auctions handling the onsite auction</a>.
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Tavistock House in the Melbourne CBD sells for $7.9 million

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<div align="justify">
An industrial site spanning 23,786sqm in the Brisbane suburb of MacGregor has been sold to retailer Harvey Norman.
The property, 572 and 588 Kessels Road, and features over 10,000sqm of existing NLA which is currently occupied by Asahi Beverages.
Matthew Frazer-Ryan and Anthony White of Colliers International negotiated the sale. White said the site is situated in a large format retail precinct with over 80 enquiries and multiple offers from high net worth investors and developers. 
“The strategic location of the site is vital for the future growth of their store footprint," he said.
"MacGregor is a strong performing precinct and Harvey Norman will work over the medium term towards a development outcome that will add even more diversity for customers in this precinct.
“Sites of this size with main road exposure and high level of existing infrastructure in place are increasingly rare throughout Brisbane, particularly as residential rezoning has been prevalent."
Harvey Norman plan to build a large format centre on the location.
</div>
<div align="justify"> </div>
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jonathanchancellor-7SQnKwU6yx

Harvey Norman buys MacGregor supersite

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CVA Property Consultants have sold a retail investment at Craigieburn Plaza.
The 310 sq m space fetched $1,450,000 when sold to a local investor.
The premises is leased to Bottle-O Steve’s Liquor on a four by four year term.
It has a rental return of $80,000.00 per annum plus GST net, representing a yield of 5.5 percent.
The shop comprises a frontage of 10 meters, walk in cooler, storeroom and rear access with loading facility next door to Woolworths.
Bakers Delight, NAB, Subway and Priceline share car parking of approximately 300 car spaces.
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Craigieburn Plaza Bottle-O premises sold at $1.45 million

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A US-linked syndicate has closed the deal for Port Hinchinbrook in Queensland, which it plans to redevelop into a top marina destination for $450 million. 
The resort, located adjacent to Hinchinbrook Island and near Cardwell, was first developed by Keith Williams in the 1990s but was damaged in the aftermath of Cyclone Yasi in 2011. It fell into the hands of liquidators after the collapse of Williams Corporation in 2013.
The Passage Holdings, an Australian company linked to American businessmen Lewis Cohen, Stephan Pinto and Joe Korman, settled the deal for the resort on September 27 with liquidator FTI Consulting.
Company spokesman Bruce Goddard, director of Place Projects, said the path was now clear for The Passage Holdings to unveil its 10-year masterplan to transform the resort, which will be renamed Hinchinbrook Harbour and Resort.
Goddard said a number of issues had delayed the settlement, but the deal went through in the end. 
“It’s very exciting to be moving ahead with a development that will become one of Australia’s finest safe-haven marina destinations,” he said.
“The developers will begin dredging works on the canal and marina as soon as practical so locals and visitors can once again enjoy the great fishing and waterways of the Hinchinbrook Channel.”
Goddard said the settlement also paved the way for the appointment of an  independent third party body corporate to resolve the disputes between residents and the former owners and late developer Keith Williams.
“The proposed structure will bring to an end years of unrest and poor communication,” he said.
“Our natural assets and the strong north Queensland market set a positive tone for the future.”
Goddard said the masterplan for the development would be released soon and that the sales and marketing for Hinchinbrook Harbour and Resort already was in its early stages.
“We are close to opening an onsite sales office now,” he said.
Architecture firm DBI Design has been working on the resort’s masterplan for the past year.
Under it, the resort will boast a $45 million international fishing village, new marina, family resort, a water theme park, camp grounds, backpacker accommodation, and waterfront residential lots and apartments.
Since taking possession of the property last year, The Passage Holdings has spent more than $4 million on restoring and upgrading the resort and preparing the masterplan. 
The revival is expected to cost around $450 million but economic modelling forecasts more than $1 billion will be pumped into the Cassowary Coast region with its reignited tourism.
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prateek24-ezbwHMbNAk

US-backed syndicate closes Port Hinchinbrook deal

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Melbourne's first ever self-service market, in industrial Brunswick, dating back to 1930 — the same year famous racehorse Phar Lap won the Melbourne Cup — has sold under the hammer for $2.8 million.
The vendor had price expectations of more than $2.65 million.
The <a href="https://www.realcommercial.com.au/property-other-vic-brunswick-502098510" target="_blank">1 Tripovich Street</a> rendered brick building was built in the eclectic 'Spanish Mission' style, with its architectural flair contrasting with the established linear pattern of Victorian style shops and homes along Sydney Road, according to the property’s description.
The building - complete with rare timber Belfast truss roof structure - remains the only Spanish style market building ever built in Victoria and thus has special architectural, historical and social importance.
<img src="/images/2016/10/07/Brunswick1.jpg" alt="">
Set in a Commercial 1 Zone, the property is set on a land area of about 709 sqm.
The two levels of the building make for nearly 1,115 sqm of usable floor space. 
Four mezzanine studio apartments (with separate entrances) are spread across the east-facing front facade, returning a combined total of $51,000 per annum. 
The vendor has lodged plans with the council to have these one-bedroom units individually titled.
Along with the rest of the building, these apartments enjoy high occupancy rates due to their location right on the doorstep of cafes and transport.
The second half of the building (fronting both Tripovich and Ballarat Street) is not for sale. 
Inside the old Brunswick market, tenants include Bey Dance Studio and the vendor’s existing business Insegna Booksellers. There are separate offices, market stalls/cubicles, a designated kitchen/dining area and amenities. With existing leases already totalling a tick over $104,000 and much of the building either still available to be rented or taken up by the bookshop, a potential annual return of $200,000-$250,000 can be expected.
The selling agent was Jason Padula of Barry Plant.
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