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.

[smartcode_project:default project_id=144913 project_image_fid=297740]

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.

[smartcode_project:default project_id=144913 project_image_fid=297741]

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.

[smartcode_project:default project_id=145922 project_image_fid=373556]

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."

[smartcode_project:default project_id=145922 project_image_fid=373559]

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.

[smartcode_project:default project_id=145922 project_image_fid=373583]

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.

[smartcode_project:default project_id=145922 project_image_fid=373571]

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.

[smartcode_project_cta:default project_id=145922]

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.

[smartcode_project:default project_id=6515 project_image_fid=68833]

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."

[smartcode_project:default project_id=6515 project_image_fid=360215]

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."

[smartcode_project:default project_id=6515 project_image_fid=68839]

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.

[smartcode_project_cta:default project_id=6515]

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.

[smartcode_project:default project_id=150017 project_image_fid=374053]

"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."

[smartcode_project:default project_id=150017 project_image_fid=374052]

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.

[smartcode_project:default project_id=150017 project_image_fid=372547]

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.

[smartcode_project:default project_id=150017 project_image_fid=374054]

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.

[smartcode_project:default project_id=150017 project_image_fid=370962]

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.

[smartcode_project:default project_id=146527 project_image_fid=366550]

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.

[smartcode_project:default project_id=426 project_image_fid=359199]

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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Victoria had three office sales in the first quarter of 2017 for a combined total of $730.5 million dollars, with New South Wales nine sales for a total of $605.8 million according to the Quarter Times National Office report from Savills.
Some 14 leases were signed in Victoria and Queensland during that time and 13 in New South Wales.
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 Office sales in the North Shore of Sydney totalled $446 million in the first quarter, wth Macquarie Park $120 million and the CBD at $9 million.
Sales in the Canberra suburb of Civic came to $321 million and the Brisbane fringe $205.5 million. 
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j.ballantyne1990-6AQqhLzZaK

Q1 office sales in Victoria total over $730 million: Savills

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Redevelopment of the Maroochydore CBD on Queensland's Sunshine Coast is driving local commercial property sales.
Emily Pendleton from Ray White Commercial North Coast Central said Maroochydore is being fast tracked to become the business, community and employment hub of the Sunshine Coast.
"The new Maroochydore City Centre will be instrumental in building and strengthening the region, providing a mix of residential, commercial, retail, civic and community uses to develop a thriving and vibrant business district and city centre,” she said.
“Any property around the new Maroochydore City Centre is getting serious attention from both owner occupiers and investors.
“There is a real hype around the immediate precinct including Maud Street, Sugar Road and Norval Court, which is exciting to see."
She said the $390,000 sale of a tenanted commercial investment property at 13/12 Norval Court, Maroochydore, for a 7.0 per cent yield highlighted the impact of the new city centre.
“This 146 sqm property has a long-term tenant in Phoenix Yoga Studio and my colleague Tamara Thorogood and I sold it to a local investor after less than three weeks on the market,” she said.
“The Norval Ct property we sold is close to the SunCentral CBD rejuvenation project.“
Construction has commenced on the Maroochydore City Centre, slated to deliver 215,000 sqm of commercial and retail space and provide more than 30,000 new jobs.
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jonathanchancellor-7SQnKwU6yx

Maroochydore CBD redevelopment luring commercial investors

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The fourth quarter of 2016 saw investment deals in the hotel space fall 31.5 percent to US$1.79 billion from Q4/2014 (US$2.61 billion), with 51 hotels across 11 countries sold in the Asia Pacific.
However, the total value of investment sales rose by 13 percent year-on-year to US$9.87 billion in 2016 with around two-third of transaction volumes coming from three countries: Japan, Australia and China, according to the latest Savills research on the hotel sector.
Australia had the second highest transaction volumes after Japan with US$1.66 billion, 16.8 percent of the region’s total volume. However, transaction volumes decreased by 31.5 percent YoY, the briefing said.
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The year gone by, 2016, was a slow year for major transactions in Australia, with hotel transactions in excess of $2.23 billion (US$1.66 billion) and 62 hotel assets changing hands, a decrease of 31.5 percent when compared to 2015, says Savills. 
The average deal size this year was $35.9 million, compared to last year’s $48.3 million. Only eight transactions were recorded in Sydney and Melbourne.
The large majority of the transactions was in the second and third-tier cities such as Surfers Paradise or Cairns. 
“Due to tight cap rates in core Tokyo, Hong Kong, Singapore, Sydney and Melbourne transactions, we began to see increases in market share for traditionally non-core assets as investors searched for yield farther afield,” said the Savills briefing Hotel Sales &amp; Investment. 
Foreign investor buying remained active, with two major transactions in the last quarter of 2016. The first was the sale of the Travelodge Docklands Melbourne for $107 million (US$81.9 million). The sale price reflected an initial yield of sub-6.0% and was acquired by Singapore’s Sing Holdings. 
Another major transaction was an Ibis portfolio, consisting of 15 hotels (1,595 rooms), for a total value of approximately $200 million (US$148.5 million), which was bought by Accor Hotels from the Abu Dhabi Investment Authority. 
The portfolio includes the 250-room Ibis Melbourne and the 200-room Ibis Sydney Airport, as well as five Ibis Budget hotels in Sydney, two in Melbourne, and one each in Newcastle, Dubbo, Coffs Harbour, Canberra and Brisbane Airport. 
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Australia in second spot for hotel deals in Q4 2016: Savills

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GUEST OBSERVER
Last year saw another year of strong performance in property investment markets across Australia, with Savills recording approximately $27 billion worth of commercial property transactions in the 12 months to December 2016.
Although this is down on the previous year ($33.74 billion), it’s much the same as the five year average ($25.6 billion). The reason behind the numbers is the lack of portfolios and a diminishing supply of prime properties continuing to weigh on investment volumes.
When comparing global yields in the World Office Yield Spectrum, of the gateway cities, Sydney led the pack offering by far the most attractive yields at 5.37 percent, with LA West and San Francisco the only others offering above 4.50 percent.
A look at regional performances
Australian interest rates fell to historic lows due to the slowdown in resource demand from China, a reversal of commodity prices and the end of the mining investment boom (coupled with the GFC). A subsequent pickup in occupier and investment demand in Melbourne and Sydney followed whilst there was a substantial reversal in fortunes in Brisbane and Perth. 
Whilst Brisbane has stabilised, Perth continues to be challenged (more office supply is in the pipeline), Melbourne is meeting both occupier and investment demand with a supply response whilst Sydney remains challenged on the supply front. An added difficulty in both Melbourne and Sydney is the continual withdrawal of office space and development sites (both in CBD and non-CBD office markets) for conversion to residential or compulsory acquisition for public works.
A look at the future
Commercial property investment yields continued to firm across the board (by an average 20 basis points) – a theme we have been seeing for several years now. Whilst the “bond yield” story has run its course, in some markets, fundamentals are improving rapidly. We believe this improvement will lead to further tightening in yields as investment capital starts to price in expectations of future NOI growth.
Generally, office markets look set for another year of strong investment driven by office property’s most preferred investment status, along with economic and political factors which are pushing investors towards the safety of bricks and mortar.
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With some level of economic and political uncertainty remaining in most markets, it is fair to say that office risk premiums will continue to offer very good value and hence drive demand and, in some instances, even firmer office investment yields.
Much of what happens in 2017 and beyond will depend on the course the US Federal Reserve takes with regards to interest rates and the new President’s policy settings. Those factors, along with Brexit negotiations and elections in key European countries, will largely determine how currencies behave, how trade flows and how capital moves around the world.
Tony Crabb is Savills Australia’s national head of research and can be contacted <a href="https://www.savills.com.au/blog/author/109174/Tony" target="_blank">here</a>. 
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jchancellor-FAypfDUnLy

Australian investment property: a look back and a look to the future

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Commercial property clearance rates in Canberra fell by 11 percent in 2016 with similar conditions expected for 2017 according to Colliers International.
Only four properties above $10 million sold at auction last year in Canberra last year. All were residential development sites auctioned on behalf of the ACT Government’s Land Development Agency (LDA).
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Dominic Aungles, Valuer and Analyst at Colliers International said, 2017 market dynamics are already looking positive with five LDA development sites selling at auction last week for a total of $25.44 million and seven more commercial auctions scheduled to occur before end of the first quarter.
“The LDA is again expected to play a significant role in the ACT auction market, with a number of key development sites coming to market through 2017 and 2018,” he said.
"We expect investment properties under $5 million to remain popular this year.
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“Mum and dad investors are likely to continue to seek out well-leased smaller assets, looking to gain stronger returns than typically afforded in the residential property market.
“Small commercial properties with secure, long-term leases are expected to be extremely popular as investors look for secure yields with rental growth. Whereas vacant properties, especially in areas such as Fyshwick, which currently have a soft leasing market, are expected to be exclusively the domain of owner-occupiers as investors look for more secure income streams in other markets."
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Same again for Canberra commercial property in 2017: Colliers

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Two industrial sites, one each in Sydney and Melbourne, totalling more than 20 hectare are being put up for sale by a corporate through real estate firm JLL.
While the Sydney site is 5.75 ha, the Melbourne offering is 16.7 ha and represent some of the last remaining large land parcels in South Sydney and Williamstown North industrial precincts, according to JLL.
They will be offered as a portfolio or separately via an expressions of interest campaign.
The Sydney site is at Coal Pier Road, Banksmeadow (above) and near Port Botany, Botany Bay and Sydney Airport. Major occupiers surrounding this land holding include Kelloggs, Visa Logistics, Toll, TNT and Bidvest. It will be offered for sale by JLL’s Michael Fenton and Blair Peterken. 
The Melbourne site at 85 Maddox Road, Williamstown North is currently vacant and is located west of the Port of Melbourne and the Melbourne CBD. 
The properties are being sold off as they are non-essential to the company’s operational requirements. 
Both are expected to attract domestic as well as international investors.
“Investors remain attracted to industrial development sites due to the lack of stabilised investment opportunities on offer,” Fenton said. 
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Industrial sites in Sydney and Melbourne on the market 

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Two childcare investment opportunities have opened up in in suburban Newcastle’s Kahibah and Thornton.
Both are anchored by the ASX-listed G8 Education Ltd, a $1.3 billion childcare giant. 
The properties are for sale through an expressions of interest campaign and being managed by Colliers. The listing agents are Adam Leacy and Matt Kearney.
The centres come with 15-year leases with options for further extensions. There are fixed 4 percent rent increases with the tenant paying all outgoings.
The annual rents are about $300,000 and $198,000.
According to Colliers, the two centres are positioned in strong family demographic suburbs.
Market competition in the childcare space saw yields sharpen in 2016, according to a previous Colliers white paper.
Sales in the childcare space were sporadic, and typically at higher yields than the retail and industrial market. The report noted a sale in September 2010 which transacted at a yield of over 14 percent, the highest since March 2007.
"A heavy concentration of sales occurred on the east coast of Australia, especially in recent years with sales increasing from only 2 auctions in 2008 to 33 in 2015, most of which are tenanted with a 10 year average initial lease term. The first half of 2016 has seen 18 child care centres sold with the bulk of transactions occurring in New South Wales,” the report said.
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Two G8 childcare centres in Newcastle up for sale

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Real estate fund manager EG Funds Management has secured the off-market sale of two commercial assets in Kensington, Melbourne.
The combined 15,725sqm site area was sold for $30.25 million.
The Young Husband Wool Stores sites were acquired in two tranches by EG Funds Management in 2007 and 2011 for AU$8.9 million and $5.5 million respectively.
The sites underwent a successful rezoning in 2015 from IN1 and IN3 (Industrial) to Commercial 2 zoning.
The strong market appetite for well-located assets delivering passing yield while allowing future land use change potential has also benefited these sites, said EG's Daniel Farley.
EG purchased the two assets for the Yield Plus Infrastructure Fund No. 1, which was launched in 2006 to acquire assets near new or upgraded infrastructure.
The fund is on track to achieve 13.0% p.a. Equity IRR.
The transaction was concluded through Ben Hegerty and Chris Jones from Savills.
Impact Investment Group, a Melbourne-based syndicator backed by the wealthy Liberman family, bought the converted warehouse on a yield of around 5 per cent, but with considerable rental upside.
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EG Funds sells its Kensington properties through Savills

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A local investor has paid $680,000 at auction for a retail shop and residential property within the Dingley Village retail precinct on Melbourne’s south-eastern bayside.
Sold with vacant possession, the 4 Pauline Avenue property comprises a single level shop with a one bedroom self-contained residence at the rear.
It sits on a 200 square metre site with two street frontages.
Teska Carson’s Anthony Choi and George Takis advised the property sold after a contest between three bidders on a land rate of $3400 a square metre, well above expectations.
He said the premises previously traded as a milk bar and was currently fitted out for retail occupation, however it was suitable for other uses such as food, speciality retail or office, subject to council approval.
Dingley Village has a Woolworths, BWS, Dingley Cellars, Nova Pharmacy, fast food operators and a number of professional services.
"Properties such as this in well-established retail precincts do not come up often and as such present a great opportunity for the small/entry level investor," Takis said.
The vendor was a private investor.
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Former Dingley Village milk bar sells for $680,000

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Oceanfront Stewarts Bay Lodge resort and Gabriel’s on the Bay Restaurant, bordering World Heritage-listed national park and the Port Arthur Historic Site on the Tasman Peninsula, have been listed for sale.
The resort was established in 2007 by Hobart businessman Rod West.
He was the mastermind of other famed Tasmanian enterprises including gourmet food store Norman &amp; Dann, the Socrates educational retail chain, centre for design excellence IXL Design, and Raw the Natural Grocer.
It is one of only a handful of accommodation businesses in Tasmania owned and operated as ‘management rights’.
The management rights to the nine-hectare beachfront cabin resort will be sold by operators Mark and Pauline Etheridge, along with associated freehold real estate, through specialist national accommodation and hospitality property agency, Resort Brokers Australia.
Resort Brokers’ Tasmanian agent, Ray Ironside, says it is a genuinely rare opportunity as the only management rights currently available in Tasmania.
The sale includes the caretaking and letting agreements on a 16-year management rights term with all 40 investor-owned cabins in the letting pool.
Freehold real estate also part of the package includes a three bedroom manager’s residence and a freestanding reception, office and utilities building. 
A two-bedroom demountable staff residence is also included.
“Resort Brokers Australia has been involved with the property since Rod West and partners bought it in 2007, extensively renovated the existing cabins and developed a further 21 two bedroom 4.5-star chalets overlooking the bay,” Ironside said.
“He very successfully sold all lots to investors, except those needed for operations, and we helped establish the management rights agreement then with a new 25-year term, which was one of the first such operations in Tasmania.
"Stewarts Bay Lodge was definitely a pioneer in this state, and still today there are literally only a handful of other true management rights operations.”
The popular Port Arthur destination includes Gabriel’s on the Bay Restaurant, which seats up to 110 indoors and 100 on the external terrace and lawns.
<img src="/images/2016/11/16/Stewarts%20Bay%20Lodge%20Aerial.jpg" alt="">
“Gabriel’s on the Bay is a tremendous asset, not only as a fine restaurant, but because it helps drive the accommodation business and is attracting strong growth in the functions and conference market with some $500,000 worth of advance and long-term accommodation and events reservations on the books," Ironside said.
“The Tasman Peninsula is one of Australia’s most visited regions, not only because of the profound Port Arthur Historic Site, but so many attractions including the Port Arthur Coal Mines, Remarkable Cave, the Convict Trail, wildlife including little penguins at Eaglehawk Neck, the blowhole and the Tessellated Pavements.
“Now we have Australia’s newest premier walk, the Three Capes Walk, which just won the New Business Award at the Tasmanian Tourism Awards, attracting people from all over the world.”
Stewarts Bay Lodge enjoys consistently high occupancy from multiple markets including international and interstate visitors, locals on short breaks, function and conference guests and the ever-expanded baby boomer travel market, he said.
The management rights business is listed with a price tag of $1.85 million, including the substantial freehold real estate component.
Tourism and hospitality properties are attracting growing investment interest on the back of positive visitor economy gains, Ironside said.
Latest figures from Tourism Tasmania show 1.17 million people visited Tasmania in the year ending June 2016 (up 2% annually).
They have spent 10.2 million nights, which is an increase of 5% on the previous year.
Visitors spent more than $2.05 billion during 2015-16, 9% more than the year before.
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