<a href="https://www.apartments.com.au/developments/broadbeach-qld-4218">Broadbeach</a> offers plenty of reasons to live vertically, but moving from a substantial family home into an apartment can expose the compromises of high-density living. Privacy, room for guests and usable living space tend to matter more when an apartment is intended as a permanent home rather than an occasional coastal base.

A typical residential floor at <a href="https://www.apartments.com.au/new-apartments/the-eveleigh-broadbeach-7-9-surf-parade-broadbeach-qld-4218">The Eveleigh</a>, on Surf Parade,&nbsp;contains just four apartments. The 94-residence development by <a href="https://www.apartments.com.au/developers/hirsch-faigen">Hirsch &amp; Faigen</a> is predominantly made up of expansive three-bedroom homes, with a limited collection of half-floor penthouses above.

Across the apartment floors, <a href="https://www.apartments.com.au/architects/rothelowman">Rothelowman</a> has used the relatively limited number of residences to give each home greater access to natural light and outlook. Living spaces extend towards full-height glazing, while a series of bay windows frame selected views across the Pacific Ocean, city and hinterland rather than treating the building edge as a continuous wall of glass.

&nbsp;

[smartcode_project:default project_id=149670 project_image_fid=360965]

“The apartment floors deliver a collection of homes that embrace controlled outlook via a series of bay windows deliberately framing moments of view,” Rothelowman Director Kim Lowman said.

From outside, those projecting forms contribute to the tower’s faceted profile. Strong horizontal and vertical elements establish its proportions, while the changing position of the sun alters the light, shadow and reflection across the façade throughout the day.

The same attention moves inside the apartments, where the material palette combines warm timber, natural stone, metallic detailing and softer curved forms. Kitchens sit within the main living zone, with stone island benches, integrated joinery and European appliances, before the living areas extend towards the glazing and the outlook.

&nbsp;

[smartcode_project:default project_id=149670 project_image_fid=360981]

Three genuine bedrooms provide room to accommodate family and guests, while two secure car spaces and storage address some of the practical considerations that can become more noticeable when moving from a larger home. Feedback from the display suite has centred on the warmth and restraint of the interiors, with buyers commenting that the residences feel like homes rather than conventional coastal apartments.

A limited collection of half-floor penthouses occupies the upper levels, increasing the scale of the living spaces and adding private balconies and elevated finishes. From this position, the outlook extends between the ocean and hinterland.

Outside the private residences, The Eveleigh separates its shared spaces between the podium and rooftop. The podium is centred on wellness, with subtropical landscaping surrounding a swimming pool and pool terrace, yoga garden, private gymnasium, sauna and hot and cold plunge facilities. Landscaped retreats and pavilions provide additional places to sit away from the main recreation areas.

&nbsp;

[smartcode_project:default project_id=149670 project_image_fid=360966]

Higher in the building, a rooftop pavilion and private dining suite sit alongside resident lounge, barbecue and outdoor dining areas, opening towards panoramic views across the ocean, city and hinterland.

“Buyers are no longer just looking for an apartment, but a lifestyle where they can relax, reset, and enjoy a balanced way of living,” Hirsch &amp; Faigen Director of Sales Matt George said.

Interest to date has come from established owner-occupiers and interstate lifestyle purchasers, including buyers planning a future move to the Gold Coast. Many are coming from larger homes and want to reduce ongoing maintenance without giving up space for family and guests, privacy, two car spaces or the ability to entertain at home.

&nbsp;

[smartcode_project:default project_id=149670 project_image_fid=360969]

Much of that daily life can also take place beyond the building without requiring a drive. Kurrawa Beach and Pratten Park are an easy walk from Surf Parade, while Pacific Fair, Oracle Boulevard, The Oasis, restaurants, cafés, entertainment and public transport are also within walking distance.

The Eveleigh is Hirsch &amp; Faigen's fourth Gold Coast development since entering the market in 2021, following The Hemingway at Palm Beach, The Emerson at Kirra and Yves at Mermaid Beach. Each of the preceding projects sold out before completion.

“Broadbeach had been on our radar throughout our time operating on the Gold Coast,” the developer said. “Following our projects in Palm Beach, Kirra and Mermaid Beach, Broadbeach represented the natural next step for the business.”

The Surf Parade site brought together proximity to the beach, protected coastal outlooks and walkability to dining, shopping and recreation. Hirsch &amp; Faigen also identified the street as an emerging premium residential address, with enough separation from Broadbeach's busier destinations to retain a quieter environment at home.

The Eveleigh is now under construction by Maxcon, with completion forecast for mid-2028. Three-bedroom residences are currently available from $2.87 million.

[smartcode_project_cta:default project_id=149670]

Joel Robinson

The Eveleigh brings house-like apartments to Broadbeach

A long-stalled Campbelltown development site is back in play, with new plans for 139 apartments set to supersede a mixed-use scheme approved almost a decade ago but never built.

The new proposal for 28 Cordeaux Street would deliver 116 market and 23 affordable apartments in a part 14-storey building, bringing a substantial new project into a Campbelltown market where new apartment supply remains limited.

Plans have been filed over the 3,092 sqm corner site at Moore-Oxley Street, around 600 metres from Campbelltown Railway Station and the city-centre retail core.

The site already carries a mixed-use residential approval dating to 2016. Doroch Architects has now been engaged on a larger replacement scheme, which is progressing as a State Significant Development Application following a Housing Delivery Authority determination in August 2025.

The apartment mix comprises 39 one-bedroom, 72 two-bedroom and 28 three-bedroom residences. Two-bedroom apartments make up just over half of the project, while three-bedroom homes account for 20 per cent.

<img alt="First look: New 139-apartment plans revive long-stalled Campbelltown city centre site" data-entity-type="file" data-entity-uuid="136dd5b9-3791-4da6-9e31-76f533f5b4de" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Campbelltown%20da2.png?VersionId=LgOSy9nwf5u.MGswBBwaGGxuX8QpHSl_" />

Of the 139 apartments, 23 will be delivered as affordable housing under the in-fill affordable housing provisions of the Housing SEPP. The affordable component represents 15 per cent of the residential gross floor area and will be managed by a registered Community Housing Provider.

Doroch has sought to break the scale of the building into two distinct elements, with a masonry podium of around four storeys establishing the street edge before the residential tower steps back above.

The corner position has shaped that approach. Cordeaux Street faces toward the commercial and civic centre, while Moore-Oxley Street leads into the lower-scale residential neighbourhood to the south, and the design verification report describes the site as "bridging the commercial core to the north and established residential areas to the south."

The podium will be expressed predominantly in face brick, while the upper levels shift to brushed and grooved concrete cladding with darker metal detailing. Recessed sections, deep balcony edges and landscaping break down the upper form, with an approximately 11.8-metre setback to the northern boundary addressing the adjoining St Peters Anglican School.

<img alt="First look: New 139-apartment plans revive long-stalled Campbelltown city centre site" data-entity-type="file" data-entity-uuid="c8b3d2d3-c561-4bfc-a5d9-a68c0c10dac1" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Campbelltown%20da1.png?VersionId=AeAEyJU02Gk2k5noUj2StziCvdQ7fW4B" />

Campbelltown has been starved of new residential developments in the last decade.

The only other notable development set to come to market this year is ALAND's Queen Square, a mixed-use precinct on over two hectares that will comprise apartments above a vibrant ground-level retail and hospitality dining precinct.

First look: New 139-apartment plans revive long-stalled Campbelltown city centre site

First Look: Sherlock Construction pitches apartments for low-rise Deception Bay

Queensland builder-developer MAYD has revealed the first look at its major North Kirra beachfront development, lodging amended plans that reduce the number of apartments and increase the proportion of larger residences.

The project is planned across a substantial 4,742 sqm amalgamated site spanning seven lots at <a href="https://www.apartments.com.au/new-apartments/2-6-pacific-parade-bilinga-qld-4225">2-6 Pacific Parade</a> and 27-33 Golden Four Drive in Bilin​ga, directly opposite Nor​th Kirra Beach.

<a href="https://www.apartments.com.au/developers/mayd-group">MAYD</a> secured the site for $32.5 million in 2025, in what was one of the Gold Coast's largest property transactions of the year.

The development will be delivered across two stages, with the first stage carrying an estimated gross realisation value of around $360 million.

The latest amendments seek to reduce the overall apartment count and shift the project further toward the owner-occupier market, with larger residences designed for buyers wanting considerably more space than traditionally offered in a beachfront apartment.

The residential mix will include townhomes, oversized two-bedroom apartments, substantial three-bedroom residences and four-bedroom homes.

MAYD has appointed Cera Stribley to lead the architecture and interiors, with the Melbourne-based design practice drawing on the beachfront setting through a series of ocean-facing terraces and heavily landscaped balconies.

Strong horizontal forms and curved balconies will define the exterior, with subtropical landscaping integrated throughout the building to soften the built form and increase the connection between the residences and the beachfront.

The project will also include an extensive collection of resident wellness and lifestyle facilities, continuing the broader shift across the Gold Coast's luxury apartment market toward larger homes supported by resort-style amenity.

<img alt="MAYD" data-entity-type="file" data-entity-uuid="d1bcbb05-e659-4b47-8bd4-1e595315e2ad" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-27%20at%202.05.03%E2%80%AFPM.png?VersionId=jj0XEud1X1DuLt7_KyElhjMdZGOXmLHP" />

MAYD Founder Todd Mould said North Kirra was increasingly appealing to buyers attracted to the more established, lower-density character of the southern Gold Coast.

"North Kirra presents one of the most compelling luxury residential opportunities currently emerging in Australia, combining absolute beachfront with the character and authenticity that buyers are increasingly seeking, and the same sense of tight-knit community that defined Burleigh and Currumbin perhaps 10 or 15 years ago," Mould said.

"With Gold Coast Airport on its doorstep, it also offers a level of accessibility that broadens its appeal across almost every market demographic."

The project comes as the southern Gold Coast continues to attract an increasing share of high-end apartment development and buyer activity.

Kirra in particular has emerged as one of the region's more tightly held beachfront markets, with its relatively low-density character, established surf and hospitality scene and proximity to Gold Coast Airport differentiating it from the higher-density markets further north.

Mould said those characteristics had informed the approach MAYD and Cera Stribley had taken to the project.

"We've worked closely with Cera Stribley to create a vision that is deeply connected to its surroundings," he said.

"Inspired by the coastline itself, the architecture has been shaped around space, privacy and resort-style living, creating a collection of homes that reflects the next generation of luxury on the southern Gold Coast."

MOTIV Managing Director Carly Cottam, who has been appointed to market the project, said buyer attention had continued to move south along the Gold Coast.

"Purchasers who may once have defaulted to Broadbeach, Main Beach or Surfers Paradise are increasingly recognising the value of a genuine beachfront location that offers lower density, strong amenity and a more established sense of community," Cottam said.

"Kirra has a powerful combination of growing demand and genuine scarcity. Beachfront supply is inherently constrained, the area remains relatively low density, and buyers are increasingly placing a premium on locations that feel established, uncrowded and authentic rather than heavily developed."

Cottam said the proximity to Gold Coast Airport was also proving increasingly important for interstate and second-home buyers.

"Being minutes from Gold Coast Airport makes it particularly compelling for interstate buyers, frequent travellers and second-home purchasers who can access an authentic coastal lifestyle almost immediately after stepping off a flight."

The acquisition takes MAYD's active development portfolio to more than $500 million, with the North Kirra project representing one of its largest undertakings to date.

MAYD is targeting an early 2027 launch.

First look at MAYD's North Kirra mixed-use precinct

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Castle Hill, the longtime hub of the Hills District, has been one of the major beneficiaries of Sydney's Metro expansion, with improved connectivity helping drive continued population growth, development and buyer demand across the Hills District.

But despite that growth, the suburb has seen relatively few major new apartment projects brought to market over the past 18 months.

Hills District developer Reve Group is looking to fill that gap with <a href="https://www.apartments.com.au/new-apartments/nova-r-ve-castle-hill-2-garthowen-crescent-castle-hill-nsw-2154">Nova Rêve</a>, a major new mixed-use precinct on the corner of Garthowen Crescent and Old Castle Hill Road, a short walk from Castle Hill Metro Station and Castle Towers.

[smartcode_project:default project_id=152737 project_image_fid=377679]

The project will comprise three residential towers alongside a hotel, restaurants, cafes and a skybar, more than 1,600 sqm of ground-floor retail and almost an acre of landscaped gardens.

It represents the largest project undertaken by Reve Group, the development arm of the Kassis family, which has been building across the Hills District for more than 30 years through Kassis Homes.

[smartcode_project:default project_id=152737 project_image_fid=377675]

Nova Rêve also represents a significant step up from the family's first apartment development, Grand Rêve, which was delivered nearby on Garthowen Crescent.

Grand Rêve introduced larger, house-like apartment layouts and premium inclusions including Wolf and Sub-Zero appliances to the Castle Hill market.

Nova Rêve takes that approach to a precinct scale, combining the residential component with hospitality, retail and substantial public and resident landscaping.

[smartcode_project:default project_id=152737 project_image_fid=377685]

Reve Group Managing Director Sam Kassis said the project reflected the family's three decades of building in the Hills, which has evolved from trophy homes on quarter-acre blocks to larger-scale apartment development.

"Grand Rêve was our first apartment project here and it showed us what this pocket of Castle Hill could be. Nova Rêve is the refinement of that idea: not just apartments, but a place the whole suburb can use," Kassis said.

A key part of that approach is the hotel, which has been designed to operate as an amenity for the wider Castle Hill community rather than solely hotel guests.

It will include restaurants, cafes, skybars and all-day dining, alongside conference and event facilities catering to business functions, community groups and private events.

At ground level, more than 1,600 sqm of shops and cafes will open onto the surrounding streets and landscaped areas.

Almost an acre of gardens designed by Land and Form Studios will run through the precinct, incorporating pathways, seating, barbecue areas and children's play spaces.

[smartcode_project:default project_id=152737 project_image_fid=377680]

Reve Group's Romio Georges said creating an active ground plane had been central to the planning of Nova Rêve.

"There are gardens with pathways, barbecues, seating and play areas, shops and cafes opening onto the street, and a hotel with restaurants and a skybar that anyone in Castle Hill can walk into," Georges said.

The project's elevated position on one of Sydney's highest ridgelines will also provide apartments with outlooks toward the Sydney skyline, surrounding parkland and the Blue Mountains.

More than 80 per cent of the apartments will occupy corner positions, with Turner responsible for both the architecture and interiors.

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Nova Rêve arrives as Reve Group bets on Castle Hill's next growth phase

Commercial Sales

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The city of Wagga Wagga in NSW was at the bottom of the retail market cycle in valuation firm Herron Todd White's May retail clock, a simple broad brush means of suggesting where property prices are, and which direction they're headed to.
Wagga Wagga is experiencing an oversupply of retail properties on the yardstick of rental vacancies, and rental rates are also showing a declining trend, the report shows. A flat local economy also doesn't seem to help the situation, as evident from HTW's retail market indicators.
There is also a significant value difference between quality properties that have national tenants, and comparable properties with local tenants, according to HTW. 
<a href="/images/2016/05/06/Screen%20Shot%202016-05-06%20at%202.50.14%20PM.png" target="_blank">Click to enlarge</a>
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NSW's Wagga Wagga hit by oversupply of retail space, at bottom of market: HTW 

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A strata titled shop on the Windsor end of Melbourne's popular retail strip Chapel Street has sold to a Melbourne-based investor for $1.315 million, or $18,264 a square metre, in a private sale.
The 43 Chapel Street property attracted enquiries from local and off-shore investors including SMSFs, according to marketing agents, Teska Carson’s George Takis and Larry Takis.
The property comprises the ground floor retail component of a two-level Victorian-style building on a 72-square metre site.
The property was offered subject to a three-year lease with a three-year option to Cheung Shing Pty Ltd, trading as Fish on Chapel, on an annual rental of $61,807 with 5 percent annual increases.
"This location at the Windsor end is exposed to tens of thousands of passing cars per day along with an enormous amount of pedestrian traffic and this has attracted numerous well-known restaurateurs, including Hawker Hall, Saigon Sally, Massina, Tokyo Tina and Mr Miyagi, to what is now a widely recognised destination for connoisseurs of fine food," said George Takis.
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Retail shop in Melbourne's Chapel St. fetches $1.31 million

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With interest rates at record lows, more self-managed funds are snapping up commercial assets between $2 million and $5 million in Western Sydney, although owner-occupiers remain the dominant force.
The strength of the commercial market in Sydney was illustrated through a recent deal by Raine &amp; Horne Commercial, which sold a building at <a href="https://www.realcommercial.com.au/property-industrial+warehouse-nsw-lidcombe-501743026" target="_blank">211 John Street, Lidcombe</a> for $4.3 million to a Honda Motor dealer. The dealership is using the freestanding 2,000 square metre industrial building, which includes a warehouse/showroom factory, as a future service centre.
The dealership beat a number of investors and developers for the property. The building has direct access to Parramatta Road and is close to Lidcombe Railway Station and the M4 Motorway.
Raine &amp; Horne Commercial director, Industrial Services, Duarte Figueira said lower interest rates were driving up owner-occupier activity.
“Many small to medium businesses are weighing up paying a mortgage against a lease. With rates at historic lows, repaying a commercial loan and ultimately owning an asset is making plenty of sense at present,” said Figueira.
“This is a sought-after precinct and Larke Hoskins Honda will join Bunnings, Reading Cinemas, Anaconda, Costco, Woolworths, ALDI and many other retailers who have decided to set up shop here.
“We’re seeing a stream of businesses operating in flat pack furniture and flat pack bathrooms looking to secure properties in our region. They are usually businesses with 30 staff or less – although we are seeing some bigger businesses buying commercial space too.”
Apart from low interest rates, western Sydney’s improved infrastructure is attracting businesses out of CBDs such as Sydney, Parramatta, and even North Sydney according to Duarte.
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Business owners driving Western Sydney commercial sales market: Raine & Horne

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The quarterly update of Pyrmont-Ultimo Cityscope shows a large decrease in sales value even though sales activity has increased.
The most recent quarter had a total of 41 sales at a value of $29.6 million, compared to 37 sales at a total value of $201.5 million for the quarter ending January 2016. The 12 month total sales figure stands at $540.3 million for the year ending April 2016, with 165 sales recorded over that period.
This is in comparison to the previous 12 months when the year ending April 2015 had 162 sales totalling $681.8 million.
Notable sales in the areas covered by Pyrmont-Ultimo Cityscope for the April 2016 update include:
<ul>
<li>Suite 127, 26-32 Pirrama Road, Pyrmont, a 601 sqm office suite comprising a 332 sqm office suite plus a 106 sqm courtyard on level 1 and a 269 sqm office suite on level 2, which was bought for $3.4 million through Hartigan Bolt and Fringe Commercial and</li>
<li>82 Harris Street, Pyrmont, a two storey sandstone building, built circa 1870, which was originally a bakery with a residence above and which was bought for $3 million through Richardson &amp; Wrench Pyrmont/Glebe.</li>
</ul>
<a href="/images/2016/04/29/Screen%20Shot%202016-04-30%20at%201.04.23%20AM.png" target="_blank">Click to enlarge</a>
<img src="/images/2016/04/29/Screen%20Shot%202016-04-30%20at%201.04.23%20AM.png" alt="">
Properties for sale in the latest update of Pyrmont-Ultimo Cityscope include:
<ul>
<li>The Terminus Hotel, 61 Harris Street, Pyrmont, a two storey brick heritage building with a rendered parapet, built in 1915 and on a site area of 489 sqm, available through JLL and Ray White Hotels and</li>
<li>315-317 Glebe Point Road, Glebe, a two storey brick building with three ground floor shops and residential on the upper floor, available through CMS Real Estate.</li>
</ul>
Leasing opportunities listed in the April 2016 update of Pyrmont-Ultimo Cityscope include:
<ul>
<li>The Cooperage, 56 Bowman Street, Pyrmont, a five level brick warehouse building originally constructed in 1901 and later converted for use as offices, which has 200 sqm to 2,500 sqm for lease through Deans Property and Ray White Commercial Inner West and</li>
<li>City West Office Park, 35 Saunders Street, Pyrmont, three office buildings grouped around a central landscaped courtyard which has 1,330 sqm for lease through CBRE and Knight Frank Sydney.</li>
</ul>
 
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Pyrmont-Ultimo commercial sales fell in value in quarter to April: Cityscope

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Preliminary results show a 52.9 percent clearance rate across 17 commercial auctions over the week ending 22 April 2016, a fall in both auction volumes (38) and the clearance rate (71.1 percent) when compared to the previous week, according to latest CoreLogic RP Data.
At the same time last year, 49 commercial auctions were reported and the clearance rate was significantly higher, at 81.6 per cent. Across the commercial auction market, activity has been somewhat subdued over the past four weeks, with just 103 auctions held and 65 sales. Of the 65 sales, 48 have been reported with a sale price, totalling just more than $88.9 million.
<a href="/images/2016/04/29/Screen%20Shot%202016-04-30%20at%201.26.06%20AM.png" target="_blank">Click to enlarge</a>
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Commercial auctions fell in week ending April 22: CoreLogic RP Data

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The latest research from Docklands Cityscope shows that commercial property sales for the quarter have significantly declined.
In the three months to April 2016 there were 11 sales at a total value of just $4.2 million, compared to 16 sales at a total value of $120.2 million for the quarter to January 2016, and 11 sales at a total value of $164.2 million for the quarter to October 2015. The yearly figures are also markedly down, with 54 sales at a total value of $300.2 million for the twelve months to April 2016, compared to 64 sales at a total value of $1.494 billion over the previous year.
Notable sales, such as they are, in the April 2016 update of Docklands Cityscope include:
<ul>
<li>Lot 222 at 838 Collins Street, Docklands, a commercial unit on the level four mezzanine, which sold for $820,000;</li>
<li>Lot 15 at 838 Collins Street, Docklands, a retail unit on the ground floor, which sold for $650,000; and</li>
<li>Unit 216 at 757 Bourke Street, Docklands, a commercial unit on the second floor, which sold for $395,000.</li>
</ul>
<a href="/images/2016/04/29/Screen%20Shot%202016-04-30%20at%2012.49.39%20AM.png" target="_blank">Click to enlarge</a>
<img src="/images/2016/04/29/Screen%20Shot%202016-04-30%20at%2012.49.39%20AM.png" alt=""> 
Properties listed as for sale in the April 2016 update of Docklands Cityscope include:
<ul>
<li>Unit 13 at 42 Newquay Promenade, Docklands, a retail lot of 323 sqm, at an asking price of $1,850,000;</li>
<li>Unit 101W at 425-441 Docklands Drive, Docklands, a 200-sqm shop, available through CVA Property Consultants and No Agent Property Moorabbin; and</li>
<li>Unit 4 at 54 Newquay Promenade, Docklands, a 236-sqm shop, available through MP Burke Commercial.</li>
</ul>
Leasing opportunities in the April 2016 update of Docklands Cityscope include:
<ul>
<li>Aurecon Centre, an eight-storey office building with retail space and parking on the ground floor at 850 Collins Street, which has up to 6,464 sqm of office space for lease through Colliers International and CBRE;</li>
<li>Ericsson Commercial Tower, a ten-storey office building with retail space on the ground floor and three levels of parking at 818 Bourke Street, Docklands, which has up to 3,600 sqm of office space for lease through JLL; and</li>
<li>The Gauge, an eight-storey office building with retail space and parking on the ground floor at 825 Bourke Street, Docklands, which has office space of up to 1,508 sqm for lease through CBRE.</li>
</ul>
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Docklands commercial property sales fall sharply in quarter to April: Cityscope

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The heritage-listed Terminus Hotel on the corner of Harris and John Streets, Pyrmont, has been sold by Auswin TWT for around $5 million.
The purchaser identity remains confidential. Justin Hemmes inspected but it seems decided, notwithstanding its exterior, it would not to be an addition to his ‘Ivy’ stable.
Zoned B4 Mixed Use, the hotel provides an opportunity for multiple bars, dining and accommodation options.
It was sold by Andrew Jolliffe of Ray White Hotels Australia and Steven Tsang and James Aroney of JLL Sales and Investments NSW.
Mr Jolliffe said the successful purchaser identified with the significant character of the property, and is understood to be considering a number of uses, including the reactivation of the licensed premises.
Mr Tsang said more than 60 private inspections were conducted with hoteliers, developers, owner-occupiers and community groups.
It was long owned the Wakil family.
Auswin TWT will still retain the 2,300 square metre carpark on the south-western side of the hotel where it plans to develop luxury terraces. Auswin TWT is also awaiting approval of a DA for a prestigious mixed-use development at nearby 495 Harris Street Ultimo which will contain 210 apartments and ground floor retail/commercial space. 
The <a href="https://www.propertyobserver.com.au/https://digitalcollections.anu.edu.au/handle/1885/9134" target="_blank">Terminus Hotel </a>is two storeys and sits on a 493 square metre site with a gross floor area of 543 square metres. 
Built in the early 1900’s Federation Style, the hotel was originally called <a href="https://www.lostcollective.com/gallery/1603-terminus-hotel/" target="_blank">The Cooper’s Arms Inn</a> but took its current name in 1911 in reference to the tram service which terminated on Jones Street.
The hotel retains many original features including the red brick façade and the distinct parapet skyline detailing. Despite remaining uninhabited for the past three decades, the interiors maintain the charm of a bygone era with their metal ceilings and ornate floor and wall tiling.
 
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Pyrmont's heritage-listed Terminus Hotel sold

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Two recent retail properties went under the hammer recently with strong results, with both selling above the reserve price to local investors.
A property at <a href="https://www.gunningre.com.au/retail/NSW/St-George/Kingsgrove/Retail/1P3963" target="_blank">264 Kingsgrove Road, Kingsgrove</a>, (above) which is leased by House Essentials, sold for $3,541,000, while <a href="https://www.gunningre.com.au/1P3962" target="_blank">437-441 King Georges Road, Beverly Hills</a> leased by Eat GRK sold for $3,705,000. 
Gunning Real Estate principal Malcolm Gunning, who was the selling agent, said there were nearly 200 enquiries with 90 contracts issued.
“The properties were both in a well established residential prescient and priced between $2 million and $3 million," he said.
“We are seeing an increase in interest from the more traditional suburban commercial investors, because the banks have loosened up the lending on retail, industrial and commercial property and the very low interest for cash terms deposits.
“A 3-4 percent net yield is much better than the 2 percent you will get from the bank. A retail investment of $2 million to $3 million for a property within 20 km of Sydney is not a lot of money for these types of investors who are looking for a standalone property."  
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Spectacular results for Gunning auctions

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High yields and exchange rates lured record overseas investors to to the commercial property market in calendar 2015 according to the Asia Pacific Investment Quarterly Q4, 2015 from Savills. 
The report found approximately A$30 billion of national commercial property sales throughout the year with around A$17.2 billion worth of office transactions for the year to December 2015, up 3 percent from the previous year.
Savills recorded approximately A$4.8 billion worth of industrial transactions in the 12 months to December 2015, down from A$5.55 billion 
Foreign investors purchased 36 percent of all industrial property sales and 26 percent of all commercial retail stock sold.  
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Commercial property sales total $30 billion in 2015: Savills

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GUEST OBSERVER
Commercial property sales hit a near record of approximately $28.4 billion in 2015 with 40 percent coming from offshore investors.
Sydney and Melbourne are among the top 10 destinations for international capital and with [gross or face] yields 3 percent higher than other gateway cities. These trends are so far continuing in 2016.
Given the long term nature of property it is important to look beyond the short term, so at Cromwell, we are focused on understanding how the market will look in five years and what trends will emerge across each of the sectors.
Our analysis shows that office markets are the most popular with international investors but other sectors such as hotels, retail, student accommodation and aged care are also increasingly sought after.
In all market sectors however, prices have generally run ahead of leasing fundamentals. The continued weakness of the economy means relatively subdued tenant demand for property in the short term albeit this demand should gradually improve as the economy begins to benefit from the pick-up in non-mining investment in a few years’ time.
Stronger growth in demand will then, to the extent that it leads to a tightening in leasing markets, underpin rises in rents and a further firming of prices. The timing and extent to which this happens will vary by market and geography.
A 5 year view sector by sector
Retail
Retail will show solid rather than spectacular income growth with differences between outcomes dependent on population, catchment growth and competition within each catchment.
Retailers still face significant challenges from internet shopping, a lower AUD and from aggressive competition. Even so, consumers have maintained expenditure growth and we believe that we are now largely through the weak period when increased vacancies in retail centres led to increased incentives and weak rental growth. 
Those vacancies are now drying up as demand for retail space improves.
Industrial
The industrial sector is basking in the glow of investor appetite after a long stint in the wilderness. Industrial demand is strengthening across the eastern seaboard capitals, underpinned by supply chain outsourcing and e-commerce.
Sydney is leading the pack, with the strongest demand in 15 years. The current growth drivers will remain in place, boosted as non-mining investment recovers but the rents will stay flat even though demand will be improving.
The market is still diminished by an ample supply of sites for development. There is plenty of zoned but not yet serviced land and aggressive development competition will keep a lid on growth in rents and prices.
The main issue is the impact of low interest rates on yields and hence rents. The firming of yields has improved development feasibilities, allowing developers to offer incentives which have spread to the re-leasing of existing properties. As a result, effective rents have fallen. Should interest rates rise, the development proposition would tighten and put upward pressure on effective rents. However that is still a way off.
Hotels
Hotels in capital cities catering to the business market were in extremely tight supply following the collapse in building post-GFC, particularly in cities servicing mining. That has now led to a building boom which when completed over the next few years would, if business was the only demand driver, oversupply those markets, city by city. However that will be offset in some cities by strong growth in tourism, both overseas and domestic. 
Hotels in tourist regions, where there has been very little building, will do extremely well as increased demand leads to tightening occupancy and rising room rates. We expect a boom in refurbishment and building of new hotels in tourist areas over the next 10 years. That will broaden to growth in the associated regional economies. 
Residential 
We are nearing the peak of the residential boom, but with marked differences between cities. Building is at record levels. Investor demand has driven the market, to some extent boosted by Chinese demand for bolthole properties, with owner occupiers relatively slow to follow.
Accordingly, the market has been driven by apartments with strong building in the inner-city.  Prices have risen strongly leading to concerns about affordability. This has turned into a classic cycle. The outcome will ultimately be driven by demand and supply in each market.
Office markets
Office markets fundamentals have come through an extremely difficult period dominated by weak tenant demand across the board as employment growth, and in particular business services employment (the primary driver of office demand), evaporated. 
Australia-wide, demand is now slowly recovering from that period of negative net absorption, albeit still affected in some cities by falling mining investment. There are marked differences between cities.
Regardless of these fundamentals, the Australian office market is experiencing cyclical high demand from investors, with record-low yields being accepted for CBD office assets. This is the preferred property sector for foreign capital, and will likely continue as the yield of Australian commercial assets aligns more closely with the global norm.
Summary
Overall, we believe the Australian economy will stay soft for the next two to three years as it works through the end of the mining investment boom. There will be a slow transition to more balanced growth, driven by industries benefiting from a lower AUD.
With Australian governments focusing on deficits and cost constraint, government investment is still falling overall. NSW is leading the way on using the cyclically strong investor demand to crystallise cash from asset sales to unlock future infrastructure investment. The next round of infrastructure investment will, however, take time to have an impact.
Inflation remains below target and until growth strengthens the RBA has a bias for rate cuts. The US, on the other hand, has begun raising rates and the reduced gap between the two monetary policies will likely see the AUD fall further.
There will be no recession in Australia but there will be a transitionary period. We expect it will be two to three years before non-mining business investment builds sufficient momentum and growth strengthens.
In the mean time, property fundamentals are not supporting the prices being paid for assets, and from our experience, a balancing of these two variables is inevitable.
Damian Horton is head of property, Cromwell Property Group and can be contacted <a href="https://www.cromwell.com.au" target="_blank">here</a>.
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