The new <a href="https://www.apartments.com.au/new-apartments/yarraville-green-42-stephen-street-yarraville-vic-3013">Yarraville Green</a> development in Melbourne's inner west is showing that landscaping can be just as influential as architecture, with buyers responding strongly to the garden-first approach adopted from the outset by developer Excelon Projects and the project's design team.

Excelon appointed Six Degrees Architects and landscape architects SBLA to work collaboratively on the development, with a brief to create "a sustainable, design-led building with a focus on community."

That approach has resonated with buyers. According to Next Chapter Director Tom Hirini, who is leading the sales campaign, the landscaped communal garden has become one of the project's defining features, alongside its boutique scale and European-inspired cluster housing concept.

Local downsizers, right-sizers and established families already living in Yarraville and surrounding suburbs have accounted for the majority of purchasers.

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Yarraville Green will comprise 53 homes, including apartments and townhomes, arranged around the shared central garden to maximise connections to the landscaped open space. Parking has been moved underground, allowing the ground plane to be dedicated to greenery, pedestrian movement and communal spaces.

The landscape extends well beyond passive planting. Productive garden beds, a pergola, communal gathering spaces, garden sheds and a pet wash have all been integrated into the masterplan, creating spaces designed to encourage everyday interaction between residents.

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The interiors continue Excelon's focus on craftsmanship, incorporating bespoke elements by Melbourne artisans including leadlight detailing by Adadaz, hand-turned timber hardware by Auburn Woodturning and blown-glass lighting by Ruth Allen.

Sustainability has also been embedded throughout the project, with Yarraville Green targeting an average 7-star NatHERS energy rating through passive design principles, rooftop solar servicing common areas and rainwater harvesting for landscape irrigation.

[smartcode_project:default project_id=144913 project_image_fid=297735]

Construction continues to progress at Yarraville Green, with structural works well underway and framing works approaching completion under builder Balmain &amp; Co. The project remains on track for completion in mid-2027.

Apartments at Yarraville Green are currently priced from $625,000, while townhomes start from $1.4 million.

[smartcode_project_cta:default project_id=144913]

Joel Robinson

Garden-led design drives buyer demand at Yarraville Green

National diversified developer Fortis has officially launched Crest &amp; Walker, its latest Brisbane apartment development, with construction now underway on the 20-storey Newstead project.

Award-winning builder BINAH has commenced construction on the Bureau^Proberts-designed building, which will deliver a limited collection of 65 two and three-bedroom apartments on Kyabra Street.

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The project marks Fortis' fourth active residential development in Brisbane, following River House, which is nearing completion, alongside projects in New Farm and Hamilton as the national developer continues to expand its South East Queensland pipeline.

Fortis General Manager – Development Queensland Dan Boman said Crest &amp; Walker reflects the developer's long-term commitment to delivering design-led residential projects in Brisbane's established inner-city suburbs.

"We're proud to be strengthening our presence in Brisbane with Crest &amp; Walker, particularly in such a sought-after lifestyle destination as Newstead," Boman said.

"Every Fortis project is shaped by its context, and we approach each one with the respect and care it deserves.

"Our focus is always on creating places that feel connected to their neighbourhood and elevate the everyday experience for residents. Newstead continues to evolve as one of Brisbane's most sought-after urban communities, and Crest &amp; Walker reflects our ambition to contribute meaningfully to that story."

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Positioned between Gasworks Plaza and James Street, <a href="https://www.apartments.com.au/new-apartments/crest-walker-newstead-12-kyabra-street-newstead-qld-4006">Crest &amp; Walker</a> has been designed as a boutique residential address offering privacy and generous living spaces within one of Brisbane's most established lifestyle precincts.

The building features a contemporary brick podium softened by integrated landscaping, while the upper levels are characterised by restrained architecture and enduring materiality. Interiors have been designed to maximise natural light, acoustic performance and long-term liveability.

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Residences comprise spacious two and three-bedroom floorplans, with two-bedroom apartments priced from $1.55 million and three-bedroom, half-floor residences from $3.95 million.

Residents will have access to a wellness-focused rooftop featuring a swimming pool, sauna, steam room, landscaped dining spaces and outdoor lounge areas overlooking Newstead and the Brisbane CBD.

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Sales are being managed by Slaite Projects, with Fortis expecting strong demand from owner-occupiers seeking a high-quality, design-focused apartment in one of Brisbane's most tightly held inner-city suburbs.

Completion of Crest &amp; Walker is slated for late 2028.

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Fortis expands Brisbane pipeline with launch of Crest & Walker in Newstead

The enormity of delivering a true skyscraper in Australia's new development market is often overlooked.

It has taken the best part of a decade since plans for Chevron One were first unveiled, but the 41-storey tower is now complete, with residents collecting their keys and moving into what has become one of the Gold Coast's most recognisable new landmarks.

Rising 127 metres above Chevron Island, Chevron One stands almost twice as high as any other building on the island. Its scale places it alongside the trio of towers at Jewel, arguably the last truly significant addition to the central Gold Coast skyline when they were completed around six years ago.

While there are several developments underway around a similar height to Chevron One, they are more concentrated within clusters of the highest towers in the city. The fact Chevron One sits within a developing precinct, looking back at the other high-rise developments in Surfers Paradise and Broadbeach, makes it a different proposition altogether. It will certainly become a reference point on the Gold Coast skyline.

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Developer Bensons Property Group is behind the 41-storey tower, which has 229 apartments, along with an exhaustive list of resident amenity spread across what is the largest development site ever assembled on Chevron Island.

The tower has been the talk of the town for years, says Ray White Projects Gold Coast agent Caitlin Rosenboom, who is selling the remaining apartments.

"People have been watching Chevron One go up for years," Rosenboom says, adding that many prospective buyers have been surprised by the scale of the views once they step inside.

"It's only when they walk through a completed apartment that they truly understand the position of the building," Rosenboom says.

"The views are jaw-dropping. Whether you're looking east over the ocean, across Surfers Paradise, along the river systems or out to the hinterland, every level offers something different but equally impressive."

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One of Chevron One's defining advantages is its location on the eastern side of Chevron Island on Stanhill Drive, a position which protects the views forever.

"There's only one row of houses between Chevron One and the water, and the height restrictions along the river means views from Chevron One can never be built out,"&nbsp;Rosenboom says.

While new apartment developments continue to emerge across the Gold Coast, Rosenboom says opportunities to secure a completed apartment with this level of outlook are becoming increasingly rare.

"The size of the site is something that would be incredibly difficult to replicate today," she says.

"That's allowed Chevron One to deliver the sort of amenity, open space and resident facilities that very few projects can offer. There are not many completed apartment buildings on the Gold Coast right now that can compete with the combination of scale, quality and amenity."

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There's around 2,000 sqm of amenity solely for the use of residents of Chevron One. Club One features a uniquely shaped swimming pool that mirrors the footprint of the building itself, set within a extensively landscaped gardens. There's also an indoor pool and spa, a fully equipped gym with a Pilates room, a yoga garden, a bookable private dining area and lounge that can host up to 30 people, and a 24-hour concierge service.

As for the buyers, Rosenboom is fielding enquiry from everywhere: Sydneysiders and Melburnians looking at the new and off-the-plan market following the changes in the Federal Budget, as well as those looking to relocate, through to South East Queenslanders seeking either a permanent home or a weekender bolthole.

"The Gold Coast lifestyle continues to resonate with people relocating from the southern states, and when they see the views and the quality of what's been delivered at Chevron One, it becomes very easy for them to understand the appeal," Rosenboom says.

A diverse mix of one, two and three-bedroom apartments remain available, with each offering "something a little different", be it the orientation and views, configuration, or level, to suit a wide variety of buyers.

The remaining apartments are ready to inspect in person, by appointment.

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A decade in the making: Residents to move into Chevron One as construction wraps up

A general rule of thumb in new apartment developments is that the penthouses get the rooftop.

It's a formula that's become commonplace across Australia's apartment market. Residents might have access to a pool, gym or barbecue facilities on a dedicated lower level, but the most desirable outdoor spaces are typically reserved for the highest-priced homes at the top of the building.

<a href="https://www.apartments.com.au/developers/sherpa-property-group">Sherpa Property Group</a> has taken the opposite approach.

Rather than dedicating the rooftop to a handful of buyers, the Gold Coast developer has made it the centrepiece of its Flourish collection, creating expansive shared spaces from the best vantage point in the building.

The philosophy has reached its most ambitious expression at <a href="https://www.apartments.com.au/new-apartments/flourish-soleira-palm-beach-1150-1160-gold-coast-highway-palm-beach-qld-4221">Flourish Soleira</a> in Palm Beach, where two rooftop precincts connected by a skybridge will deliver one of the most extensive lifestyle offerings seen in a residential apartment project on the Gold Coast.

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"We're seeing a clear move toward developments that offer more than just an apartment," Sherpa Group founder Christie Leet said.

"People want spaces that support how they actually live, whether that's working from home, staying active, or spending time with family and friends.

"That's where amenity becomes critical. It's not just about what's included, but how those spaces are designed to be used every day."

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The breadth of amenity has already attracted buyers across multiple demographics. Younger first home buyers have been drawn to Soleira's one-bedroom apartments, a product rarely delivered in Palm Beach, while families have responded to practical inclusions such as the shallow children's pool adjoining the main lap pool and the extensive communal recreation areas.

Instead of a single rooftop, Soleira delivers two distinct lifestyle zones.

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The southern rooftop has been dedicated to wellness, featuring a gym, yoga and Pilates studio, work-from-home facilities, a wellness centre, spa, and hot and cold plunge pools.

The northern rooftop focuses on recreation and entertaining, incorporating a heated resort-style pool, private dining rooms, pizza ovens, barbecues, a golf simulator, children's recreation areas, and what is expected to be the Gold Coast's first rooftop basketball court, which will also double as a squash court.

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Beyond the rooftops, Soleira will introduce 1,500 sqm of curated retail beneath the towers, creating one of Palm Beach's first genuinely mixed-use lifestyle precincts where cafés, restaurants and convenience retail become part of residents' everyday lives.

Sherpa has also retained management rights across the development, allowing it to oversee the long-term operation of the building through a 24-hour concierge model. The developer is also exploring additional revenue streams within the precinct aimed at helping offset ongoing body corporate costs for residents.

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While Soleira is the largest project Sherpa has delivered, the rooftop-first philosophy has been evolving for several years.

It began with <a href="https://www.apartments.com.au/new-apartments/amargo-6-12-sixth-avenue-palm-beach-qld-4221">Flourish Amargo</a>, the first project released under the Flourish brand. Rather than competing at the ultra-luxury end of the market with oversized half-floor and full-floor residences, Sherpa focused on creating lifestyle-driven apartments supported by resort-style shared spaces.

Amargo introduced more than 800 sqm of rooftop amenity, combining wellness facilities, heated pools, entertaining areas, cabanas, pizza ovens and private dining spaces into what was designed as an extension of residents' homes rather than a facility used only occasionally.

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That approach continued with Flourish Oasis, where the same amenity-led philosophy was refined into a more boutique development. Strong demand from Sherpa's growing VIP database saw much of the project sold before it reached the broader market, reinforcing buyer appetite for apartment communities centred around shared lifestyle experiences.

Flourish Amargo is slated for completion mid-way-through next year, with Oasis to be delivered by late 2027. Flourish Soleira is expected to complete in 2030.

[smartcode_project_cta:default project_id=150017]

Sherpa takes amenity to the sky as Flourish Soleira captures booming Palm Beach demand

As apartment living continues to evolve across Sydney's growth corridors, the quality and distribution of shared spaces is increasingly shaping how residents experience home. Rather than functioning as add-ons, amenities are being embedded into the daily rhythm of a building, supporting everything from quiet retreat to social interaction, often within a single vertical community.

At <a href="https://www.apartments.com.au/new-apartments/aeris-melrose-park-nursery-street-melrose-park-nsw-2114">Aeris</a> in Melrose Park, this approach is resolved through a layered amenity offering that unfolds from ground level through to its upper podium. Developed by <a href="https://www.apartments.com.au/developers/sekisui-house-australia">Sekisui House Australia</a> in partnership with Hankyu Hanshin Properties, the project introduces 468 apartments across two towers and a mid-rise building, positioned at the highest point of the broader masterplan.

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The amenity experience begins at street level, where two courtyards sit within a landscaped setting that connects residents to the wider network of parks and green spaces. These green spaces are not isolated pockets but part of a wider pedestrian network that links Aeris to the surrounding <a href="https://www.apartments.com.au/developments/melrose-park-nsw-2114">Melrose Park</a> precinct, including Central Park, future schools, and the Town Centre opening in July 2026. The result is a transition that moves from public to private without abrupt boundaries, allowing residents to pass through shaded, tree-lined environments before reaching the building itself.

Moving upward, the focus shifts to the level five podium, where the primary communal facilities are concentrated. This space brings together a 16-metre swimming pool, outdoor seating areas, and a communal BBQ zone arranged to take advantage of elevated outlooks. Seating is positioned beneath pergolas, creating pockets of shade that extend the usability of the space throughout the day. The pool edge aligns with views toward the wider district, reinforcing the sense of elevation that defines the project’s positioning.

In the adjacent building, this is complemented by quieter, more contemplative spaces, including an outdoor cinema set within the same level. Positioned to operate primarily in the evening, it introduces a different tempo to the shared environment, shifting from daytime activity to after-hours use without requiring separate zones.

[smartcode_project:default project_id=426 project_image_fid=360299]

The podium also accommodates an intimate private resident gym. Located on the lower levels, it gives residents convenient access to fitness facilities without leaving the building.

Above, the elevated podium sky deck extends the amenity offering, providing additional open-air spaces with elevated outlooks across the surrounding landscape. While more restrained in program, this upper level reinforces the project’s vertical progression, from ground-level greenery to elevated outlook, allowing residents to move between distinct spatial conditions within a single address.

This distribution of amenities reflects a deliberate response to how residents use space across the day. Sekisui House Australia Sales and Marketing Director Peter Kalaf points to the role these shared areas play in shaping buyer demand. Aeris has been conceived as more than a collection of apartments, with the podium pool, gym and outdoor cinema forming part of a broader lifestyle offering that extends the home beyond each individual residence.

[smartcode_project:default project_id=426 project_image_fid=360300]

What distinguishes Aeris is not the inclusion of these elements individually, but how they are arranged in relation to one another. Active, social, and passive spaces are layered vertically rather than separated, allowing residents to choose between them without leaving the building or moving far from their apartment. This proximity supports both routine use, such as a morning swim or evening workout, and more occasional gatherings, whether around the BBQ area or within the cinema setting.

The amenity design also sits within a broader framework of connectivity across Melrose Park. The Melrose Park Town Centre, anchored by Coles and Dan Murphys, features a mix of retail, dining, health and lifestyle offerings, bringing everyday convenience closer to residents. By the end of the year, more than five hectares of parks and open space, equivalent to around seven football fields of green space on residents' doorstep, will further enhance the precinct, allowing the internal facilities at Aeris to operate as an extension of the wider neighbourhood rather than a substitute for it.

Construction at Aeris continues to gather momentum, with ground floor slabs expected to be completed in late 2026 before the first sections of the buildings begin to rise above ground.

[smartcode_project_cta:default project_id=426]

Elevated amenity anchors daily life at Aeris, Melrose Park

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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