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 Sales

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Fierce competition for a Toorak retail strip property, which was for sale for the first time in 40 years, saw it sell for $3.75 million - $1.5 million over the reserve.
The Teska Carson auction with 100 strong crowd spilling on to the street was one of the most competitive agent Michael Taylor and Tom Maule had seen.
They said the <a href="https://www.realcommercial.com.au/property-retail-vic-toorak-502605814" target="_blank">595 Malvern Road</a> property was sold to an investor on a passing yield of just 1.8 percent.
"This was an outstanding retail investment opportunity within the very tightly held Hawksburn Village and so a keen contest was expected but the result surpassed our most optimistic expectations,’’ Taylor said.
He said the result also reflected the ongoing strength of the market for strip retail investments and the shortage of stock.
"Strip retail has never really been off the investment agenda, but currently it’s attracting perhaps more than its fair share of interest and that’s due to a combination of factors including the dearth of quality alternative investments.
"At the same time we have a shortage of stock which has intensified demand for available properties resulting in ever tightening yields,’’ Taylor said.
The Malvern Road space comprises a 132 sqqm, single level, retail premises with office space and a large rear courtyard on a 337 square metre site zoned Commercial 1 with 6.4 metres street frontage.
The property was sold subject to a five year lease to a long-standing tenant returning $68,936 per annum.
 
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jrobinson-rf4aSBido9

Toorak shop sells $1.5 million over reserve

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The Darlinghurst building that homes popular American-themed restaurant Surly's, has been sold for around $4.5 million.
The freehold retail investment at <a href="https://property.cbre.com.au/properties/182-campbell-street-darlinghurst-nsw-2010-2/" target="_blank">182 Campbell Street</a> brings in a net income of $224,081 per annum.
<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/2017/11/24/SURLYS2.jpg" alt="">
Surly's began a 10+10 year lease in January 2015.
The three storey building with Alexander &amp; Co designed internal fit out has dual frontages to Campbell Street and Taggarts Lane.
CBRE agents Michael Khouri, Gemma Isgro and Nicholas Heaton marketed the property, which has been sold without price disclosure. 
 
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Darlinghurst building tenanted by Surly's sold

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An Essendon North investment has just sold on a yield of just over 5.5 percent.
The <a href="https://www.realcommercial.com.au/property-retail-vic-essendon+north-502348082" target="_blank">Keilor Road property</a>, which fetched $410,000, is leased to an established hair salon on a new three year lease.
<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/2017/11/24/ESS2.jpg" alt="">
Offering main road frontage to Keilor Road, the 54 sqm space with two car spaces is located in the architecturally designed commercial building known as The Edge.
CVA agent Craig McKellar sold the property.
 
 
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Essendon North commercial investment sells for $410,000

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A high end showroom and warehouse at Point Cook in Melbourne's south west has sold for $5,701,000.
The <a href="https://www.realcommercial.com.au/property-industrial+warehouse-vic-point+cook-502573714" target="_blank">Wallace Road property</a>, which was bought by a local investor, generated over 20 parties taking interest in the 3,150 sqm building.
The sale equated to $1,809 per sqm and a land rate of $1,046 per sqm for the 4,050 sqm site.
A high clearance warehouse spans 2020 sqm. There's a ground floor showroom of 560 sqm and first floor office of 570 sqm. 
The site with dual street access has 34 car spaces.
Craig McKellar and Robert Cubelic of CVA sold the commercial space.
 
 
 
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Point Cook showroom sells for over $5.7 million

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For the first time in seven years, the Elermore Shopping Centre in Elermore Vale, nine kilometres west of Newcastle has sold.
A private syndicate has snapped up the neighbourhood centre for around $18 million on a 6.8 per cent passing net yield.
Located at 133 - 137 Croudace Road, the single level, enclosed and strong performing centre comprises a large Ritchies SUPA IGA supermarket supported by 17 non-discretionary specialty tenants.
There's 4,048 sqm of gross lettable area on a 23,882 sqm site including additional land ready for development, car parking for 235 vehicles and an estimated fully leased net income of around $1.44million.
Steven Lerche, national director of retail investments at Savills Australia, sold the asset with Andrew Palmer and Ben Nastasi on behalf of Bamm Group
The Elermore Shopping Centre purchase six years was timely according to Ben Nastasi, with Bamm Group more than doubling their capital after their $8.3 million purchase.
Steven said said investment activity is strong in Newcastle. 
“Newcastle is seeing a surge in investment activity, largely stimulated by the $6.55 billion State Government investment mandate which has brought to light the new light rail system on Hunter Street, the new transport interchange at Wickham, construction of the Newcastle City University Campus and much more," he said.
“We are seeing a lot of investor interest come from the Sydney investment market and interstate markets such as Melbourne and Brisbane due to the significant growth prospects of Newcastle. 
“Retail assets have been in particular favour with developers due to their strategic locations, large site area, existing income stream and potential to re-develop under the existing planning controls.
Newcastle is the largest regional economy in Australia and is the second most populated area in NSW.
Elermore Vale is a popular and established residential suburb surrounded by schools, childcare centres and community facilities, with a key primary population of 5,759* residents and an estimated population of 20,459* within the main trade area.
Andrew Palmer said Elermore Vale and its surrounding suburbs are set to reap the benefits of this surge in investor demand.
 
 
 
 
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Private Investor snaps up Elermore Shopping Centre

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CK Asset Holdings, controlled by Hong Kong's richest man Li Ka-shing, has sold a 73-storey Hong Kong office tower for $HK40.2 billion ($6.8 billion), which Reuters credits as the world's biggest ever single property sale.
It is being sold to CHMT Peaceful Development Asia Property, a British Virgin Islands-incorporated company, with 55 per cent of the investment coming from Beijing-based China Energy Reserve and Chemicals Group, according to local media, with the rest coming from Hong Kong investors.
The energy company is a unit of state-owned China Overseas Holding Group.
"The selling price is reasonable ... it's a positive signal to the market and I expect we'll see more large transactions of office buildings in Q4," said Tom Ko, executive director of real estate consultant Cushman &amp; Wakefield.
Australia's biggest single biggest office deal was a 49.9 per cent interest in Brookfield's $1.9 billion Wynyard Place development in Sydney.
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j.ballantyne1990-6AQqhLzZaK

Hong Kong sale of the world's dearest office building

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The site of St Kilda’s iconic former Greyhound Hotel has sold for $7.5 million, following its controversial demolition earlier this year.
The property at <a href="https://www.realcommercial.com.au/property-land+development-vic-st+kilda-502569734" target="_blank">1 Brighton Road</a>, on the corner of Blessington Street, has a newly approved permit in place for a seven-level mixed-use project.
It includes 37 apartments, designed by Terry Harper Architects, and two retail spaces. The one and two bedroom apartments will be an average size of 74 sqm.
The 911 sqm landholding represents a land rate of $8,200 per sqm and $200,000 per approved unit.
Savills agents Clinton Baxter, Jesse Radisich and Nick Peden sold the property. They received extensive enquiry from local and Asia-based developers.
“The site drew a huge amount of interest from buyers wishing to secure the property for development,” Baxter said.
“It was particularly attractive by virtue of its high-profile location, abundant local amenity, and existing plans and permit for a boutique multi-level project.
“After a competitive bidding process, we ultimately sold the site to Steller – one of Melbourne’s most active developers of inner suburban and bayside projects.”
Jesse Radisich said there is an extremely strong demand from local developers seekign to secure boutique permit-approved apartment projects within 10 kilometres of Melbourne's CBD.
“This is a sector of the market where owner-occupier and downsizer demand for apartments is at its highest, and construction funding from the major banks is most available.”
Radisich said the site’s proximity to public transport routes, the popular retail strips of Carlisle and Acland streets, and the beach was a key influencer in Steller’s decision.
“The buyer recognised the unquestionable value of this pocket of the city fringe, an up-and-coming precinct that will be inundated by high-end apartment dwellings in the years to come,” he said.
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The site of St Kilda's iconic former Greyhound Hotel sells

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A Chinese investor has snapped up Melbourne's Cyclone House on Hardware Lane for $6.71 million.
The sale, auction by Allard Shelton Director Joseph Walton, attracted a crowed of over 120 people.
It was the first time in nearly half a century the 400 sqm, three-level property was offered to the market. It was listed with $5.5 million hopes late last month.
Held by the same family since 1972, the property underwent an extensive renovation and lavish fitout.
The vendors $6.05 million reserve price was bettered after the bidding opened at $5.2 million, with five competitive bidders.
The buyer was the first and last to bid.
Walton said they are pleased with the response to the campaign.
“The result has again drawn attention to the market’s strong appetite for A-grade investments in Melbourne, both locally and off-shore," he said.
 
 
 
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Melbourne's Art Deco Cyclone House sold for $6.71 million

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Melbourne’s eastern suburb of Camberwell is witnessing a flurry of commercial transactions.
A commercial building on Toorak Road leased to National Australia Bank has been snapped up before auction for $3.48 million, while a mixed-use investment property on Camberwell Road has changed hands for $960,000.
The <a href="https://www.realcommercial.com.au/property-retail-vic-camberwell-502478002" target="_blank">1397 Toorak Road</a> property is a double-fronted brick building of 551 sqm on a 446 sqm site.
The Commercial-1 zoned property sold with a four-year lease to NAB with two further two- year terms, with a current passing income of around $141,000 per annum plus all outgoings and GST, reflecting a circa 4% yield.
The selling agents were Chris Kombi and Chris James of Fitzroys.
The sale comes just weeks after a Bendigo Bank site at 4 Prospect Hill Road in Camberwell sold for $7.03 million under the hammer on a 4.2% yield.
Kombi said the Toorak Road property’s tenancy profile and strong position were key drivers of demand, as well as the increased level of residential development in the wider area that has underpinned significant improvement in retail activity along this section of Toorak Road.
“This strip centre is a boutique commercial hub which incorporates major trading banks, an IGA Supermarket, Australia Post, various eateries and local traders and is further supported with the excellent car parking facilities directly behind the subject property,” he said.
Meanwhile, the building at <a href="https://www.realcommercial.com.au/property-retail-vic-camberwell-502492894" target="_blank">627 Camberwell Road</a> was sold post-auction to a local owner-occupier by Brett Diston of Ray White Commercial.
It was passed in at auction, but the highest bidder bought it later, Diston said.
The gross yield for the 135 sqm building was 4.65 per cent.
It last changed hands in 2015 for $738,000, according to CoreLogic RP Data.
The property comprises a freehold ground floor office and a five-bedroom/two-bathroom residence on the upper level.”
The lower floor is leased to an accountancy firm and the property was returning net rental of $44,640 per annum.
“When fully let this property, which is on a land area of approximately 157 sqm, can return net rental of $51,920 per annum,” he said.
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Camberwell NAB nabbed before auction

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Commercial property in northern Sydney’s CBD is witnessing a price surge because of the introduction of the metro line, if recent deals are an indication. 
A refurbished Northpoint commercial property at <a href="https://www.ciaustralia.com.au/listing.aspx?SurgaWebListingId=107977&amp;ViewType=F" target="_blank">116 Miller Street and 173 Pacific Highway</a> in North Sydney was recently scooped up by a Chinese investor for $135 million.
The property doubled in value in just six years. It last traded for $60 million in 2011, and was jointly bought by Property Bank Australia, Security Capital Corporation and RG Property, reported The Australian Financial Review.
The vendors have now capitalised on the rising value of the 11,368 sqm office and retail property located opposite the future Victoria Cross Metro Station, making a $75 million gain. 
The A-grade building has retail spaces and refurbished offices. Its tenant profile is strong, with Commonwealth Bank, ANZ, and National Australia Bank among them.
The building sits on a 2,304 sqm site and has a weighted average lease expiry of 3.4 years.
Property agents concur that the upcoming metro line, which will improve travel times, will push up prices and rents as stock is withdrawn and creates more competition in the market.
In the first half of 2016, 28,265 sqm were withdrawn in North Sydney with an additional 72,538 sqm mooted for withdrawal over the next five years. 
Meanwhile, yields have been compressed as have sizes of leases to sub-500 sqm. 
Gross rents rose by up to $80 a sqm in the first half of 2016 and vacancy is about 7 per cent.
Corelogic's Cityscope showed that sales in North Sydney increased in total value in the quarter to April 2017.
The deal for 116 Miller Street and 173 Pacific Highway was struck by Knight Frank's Tyler Talbot, Dominic Ong and Angus Klem and CI Australia's Bevan Kenny and Chris Veitch.
 
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