North Sydney's landmark 'SBS Building' on Alfred Street is set to be demolished to make way for a new mixed-use residential tower in the booming North Sydney.

Commercial property group FiveX is behind the plans for a <a href="https://www.apartments.com.au/new-apartments/275-alfred-street-north-north-sydney-nsw-2060">39-storey tower</a>, the latest project to advance under the NSW Government’s Housing Delivery Authority pathway.

They are proposing 184 apartments above retail spaces, which will replace the existing 20-storey commercial building. FiveX was set up more than five decades ago by Joshua and Marko Berger. It is currently led by Joshua's son Lesli.&nbsp;

<img alt="First look: Fivex plans 39-storey residential tower at 275 Alfred Street, North Sydney" data-entity-type="file" data-entity-uuid="2efa0980-53fa-4cca-9f9e-9c3c845d4746" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Article%20Feature%20Image%20%28Grid%29%20%281%29_0.png?VersionId=y_YyPMq3NQLfYRs84pP4os9UgWiMLp75" />

According to the Architectural Design Report by <a href="https://www.apartments.com.au/architects/fjc-studio">FJC Studio</a>, the slender tower form has been deliberately designed to respect the site's transitional setting at the southern gateway to the North Sydney CBD, where high-rise towers give way to lower-scale residential precincts.

"The slender tower form and articulated podium establish a respectful relationship with nearby heritage and low rise buildings, including the Whaling Road Heritage Conservation Area,” the architecture firm noted, adding that the tower “completes a missing link in the urban fabric” while enhancing the Alfred Street streetscape.

The proposed building will include a mix of one-, two- and three-bedroom apartments, with 15 percent of the gross residential floor area allocated as affordable housing. There is an agreement already in place that those apartments will be managed by Evolve Housing.

The project aligns with broader state housing objectives, including the National Housing Accord target of delivering 1.2 million new homes by 2029. The Scoping Report filed with the State Significant Development Application (SSDA) suggests the site "presents no impediments to rapid delivery,” with construction able to commence within 12 months of receiving consent.

North Sydney has been one of the most popular suburbs in Sydney for new and off the plan apartment development, but hasn't had the supply to keep up with demand, until recently.

AURA by Aqualand was, for a long time, the only off the plan apartment building on the market. That completed last year, and has sold the majority of its 386 luxury apartments. Recently ALAND launched <a href="https://www.apartments.com.au/new-apartments/the-walden-173-179-walker-street-north-sydney-nsw-2060">The Walden</a> on the same street, selling over $100 million within just a few hours of its launch, while developer CASA also launched&nbsp;<a href="https://www.apartments.com.au/new-apartments/the-mclaren-north-sydney-45-mclaren-street-north-sydney-nsw-2060">The McLaren</a>&nbsp;in the same precinct.

Joel Robinson

First look: Fivex plans 39-storey residential tower in booming North Sydney

Kokoda Property Group has announced the Sydney-based Versatile Construction as the builder for its landmark $1.5 billion <a href="https://www.apartments.com.au/new-apartments/teneriffe-banks-17-27-skyring-terrace-teneriffe-qld-4005">Teneriffe Banks</a> precinct.

Construction of the 17,612 sqm site is scheduled to commence in December 2025 and is expected to be delivered in stages from 2028. Once complete, <a href="https://www.apartments.com.au/new-apartments/teneriffe-banks-17-27-skyring-terrace-teneriffe-qld-4005">Teneriffe Banks</a> will comprise 212 residences across four architecturally distinct buildings, alongside Brisbane’s first Kimpton Hotel, extensive retail, hospitality, and wellness amenities.

[smartcode_project:default project_id=139896 project_image_fid=295098]

Kokoda Property Group Founder and Managing Director, Mark Stevens, said appointing Versatile Construction marks a significant milestone for <a href="https://www.apartments.com.au/new-apartments/teneriffe-banks-17-27-skyring-terrace-teneriffe-qld-4005">Teneriffe Banks</a>.

“Partnering with Versatile Construction gives us confidence in delivering a precinct that sets a new benchmark for luxury living, curated experiences and vibrant riverfront activation," Stevens said.

"Together, we will bring the vision for <a href="https://www.apartments.com.au/new-apartments/teneriffe-banks-17-27-skyring-terrace-teneriffe-qld-4005">Teneriffe Banks</a> to life, creating a destination that residents and visitors will enjoy for generations."

Throughout the construction phase, more than 2,000 jobs will be created, supporting hundreds of local contractors and suppliers.

[smartcode_project:default project_id=139896 project_image_fid=352274]

Marco Fahd, Chairman &amp; CEO at Versatile Group, said the company is looking forward to&nbsp;expanding their footprint in the state, taking on their inaugural project in Brisbane.

"We are proud of the unwavering commitment our team of experts have to quality and certainty in delivery and are excited to work with Kokoda to bring their vision for this unique project to life," Fahd says.

Sales reached $285 million on the launch of <a href="https://www.apartments.com.au/new-apartments/teneriffe-banks-17-27-skyring-terrace-teneriffe-qld-4005">Teneriffe Banks</a>, with sales momentum continuing to "exceed all expectations."

Stevens says the overwhelming response from buyers validated the group’s vision for <a href="https://www.apartments.com.au/new-apartments/teneriffe-banks-17-27-skyring-terrace-teneriffe-qld-4005">Teneriffe Banks</a>.

“The demand for a luxury product in this enclave has been extraordinary, we’ve never seen anything like it before. It reinforces everything we’re doing around quality, design, and creating genuine lifestyle precincts. Buyers are recognising the enduring value of Brisbane’s riverfront and are responding to the opportunity to live within a world-class destination that celebrates both place and lifestyle.”

[smartcode_project_cta:default project_id=139896]

Kokoda appoints builder for $1.5 billion Teneriffe Banks waterfront precinct

Castle Hill’s booming development market is set for another boost, with builder-developer Buildex proposing a new mid-rise apartment building near Castle Towers.

Buildex has submitted plans to The Hills Shire Council for a <a href="https://www.apartments.com.au/new-apartments/197-old-northern-road-castle-hill-nsw-2154">nine-storey building comprising 57 apartments</a> on Old Northern Road. The company acquired two adjoining sites earlier this year, totalling more than 2,683 sqm.

Texco Design has prepared the scheme, which includes five one-bed plus study apartments, 37 two-bedrooms, and 15 three-bedrooms.

Castle Hill has become a hotspot for developers in recent years, undergoing significant transformation driven by the opening of the Hills Showground Precinct to development and the introduction of two metro stations servicing the suburb.

Developers including Deicorp and Kassis Homes have already completed projects, and are progressing future developments, while Meriton, Arada, and Ellipse are currently delivering new projects in the rapidly evolving area.

Staff Writer

First look: Buildex plans 57 apartments near Castle Towers

Gold Coast developer&nbsp;<a href="https://www.apartments.com.au/developers/immerse-projects">Immerse Projects</a>&nbsp;has unveiled what it intends to deliver at its recently acquired Toowong site, its debut apartment development in Brisbane.

Immerse, founded by John Kearney who is also the founder of regarded construction company Greyburn, secured the prime Sylvan Road site <a href="https://www.apartments.com.au/news/qld/first-look-immerse-projects-moves-into-brisbane-apartment-market-with-toowong-site-acquisition">earlier this year</a>, in an area which has historical significance to Kearney who&nbsp;studied at the nearby University of Queensland.

"It feels like a full circle moment," Kearney told&nbsp;<a href="https://www.apartments.com.au/" target="">Apartments.com.au</a>.&nbsp;

“I spent many nights at the Regatta Hotel just down the road, as have most people in&nbsp;<a href="https://www.apartments.com.au/developments/brisbane-qld" target="">Brisbane</a>. It’s one of the city’s most well-known hotels, and with several cafes, restaurants, and a CityCat stop nearby, it’s become an even more attractive place to live.”

He is planning a <a href="https://www.apartments.com.au/new-apartments/22-24-sylvan-road-toowong-qld-4066">15-storey project with 88 apartments</a> above an activated ground plane with a shop and hospitality spaces.

<img alt="Toowong podium" data-entity-type="file" data-entity-uuid="c350436b-9d64-46cc-ab6f-defc009e1b65" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/podium_0.png?VersionId=zt7A0_14M62TkZ61YHnGmEck9KM9HqDA" />

The architecture, led by <a href="https://www.apartments.com.au/interior-designers/bda-architecture">BDA Architecture</a>, presents a tower massing that responds to the area's evolving mid-rise context. The scheme incorporates podium and rooftop communal spaces, while the commercial elements aim to activate the Sylvan Road frontage and enhance the site's interface with the adjacent parkland.&nbsp;

Landscaping plans by Ivy May Landscape Architects include subtropical planting and deep soil zones to support stormwater management and visual integration.

Supporting documentation from Mewing Planning Consultants notes that "the proposed development will deliver a mixed-use outcome that enhances the vibrancy of the Sylvan Road corridor" and highlights its proximity to high-frequency public transport and community facilities.

<img alt="First look: Immerse Projects moves into Brisbane apartment market with Toowong site acquisition" data-entity-type="" data-entity-uuid="" src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,dpr_2.0,q_auto:good/https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/22-24%20Sylvan%20%20Rd%20Toowong_Markups.jpg?VersionId=u4_IGzpYLPFfAZSsgCZynov3bm7umwJ." />

&nbsp;

There's been little new apartment development in Toowong in recent years. The most notable is Consolidated Properties two-tower Monarch Residences, which is approaching completion with nearly all of its 224 residences sold.

Kearney describes&nbsp;<a href="https://www.apartments.com.au/developments/toowong-qld-4066" target="">Toowong</a>&nbsp;as a suburb with real depth.

"The suburb attracts everyone, from students to retirees, and that's what makes it interesting."

First look: Immerse Projects reveals debut Brisbane apartment development in Toowong

<a href="https://www.apartments.com.au/developers/hyecorp-property-group">Hyecorp</a> is down to its final three-bedroom apartments at Audrey, the developer’s parkside St Leonards South project, pairing the remaining homes with a limited-time offer.

The developer is extending a five per cent deposit and a $50,000 settlement rebate on selected apartments, aiming to help owner-occupiers secure one of the final homes ahead of move-in in early 2026.

[smartcode_project:default project_id=110379 project_image_fid=311393]

Located on Canb​erra Avenue opposite Newlands Park, <a href="https://www.apartments.com.au/new-apartments/audrey-st-leonards-13-19-canberra-avenue-st-leonards-nsw-2065">Audrey</a> comprises 102 residences, including a mix of three-bedroom residences and a double-storey, five-bedroom terrace with two outdoor areas.&nbsp;

Designed by <a href="https://www.apartments.com.au/architects/sjb-architects">SJB</a> and delivered by <a href="https://www.apartments.com.au/builders/north-shore-property-construction">North Shore Property Construction</a>, the project reflects Hyecorp’s focus on owner-occupier planning, with open-plan layouts, extensive storage integration, and a material palette built around stone, oak timber flooring and bespoke joinery. Many of the three-bedroom apartments capture views toward the city and Harbour Bridge.

[smartcode_project:default project_id=110379 project_image_fid=207373]

Hyecorp’s internal design team, Jackson Teece, has emphasised a consistent level of specification across the building, including Miele appliances, integrated refrigeration, brushed metal tapware and large-format stone detailing that conceals cabinetry.

The Tiffany Collection, crowning the development on Levels 12 to 15, features added luxury of fluted standalone baths, heated bathroom floors, custom walk-in robes and upgraded appliance packages across its spacious 155 to 159 sqm homes.

[smartcode_project:default project_id=110379 project_image_fid=301367]

Beyond the private residences, Audrey carries a strong amenity focus. Residents have access to an indoor lap pool and spa, personal training studio, private cinema, music room and private dining room.

A landscaped rooftop terrace with CBD views anchors the communal offering, complemented by an onsite café and an integrated daycare centre within the project.

[smartcode_project:default project_id=110379 project_image_fid=198680]

The location continues to be a drawcard for buyers, with new retail additions at Mall 88, including Coles, alongside Woolworths and the established offerings of Forum Plaza. St Leonards Station and Crows Nest Metro is within easy reach, as are local health precincts such as the Royal North Shore Public and Private Hospitals. Nearby green spaces include Newlands Park, Gore Hill Oval and Naremburn Park, supporting strong day-to-day amenity for families and downsizers alike.

Hyecorp is expected to welcome residents to Hyecorp in early 2026.

[smartcode_project_cta:default project_id=110379]

Audrey St Leonards nears completion – settlement bonus now available

Commercial Tenants

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New regulations published in NSW will give immediate effect to the NSW Government’s COVID-19 rental relief measures, reflecting the National Cabinet’s Code of Conduct agreed to by all states.
Minister for Finance and Small Business Damien Tudehope and Treasurer Dominic Perrottet said the changes will support and guide tenants and landlords in negotiating agreements.
They are part of the NSW Government’s package of support for tenants and landlords which includes up to $440 million in land tax relief announced on April 13, to be split approximately 50-50 between the commercial and residential sectors.
“This is about adopting a national framework in NSW so agreements can be reached between parties and more businesses stay in business and people stay in jobs,” Mr Tudehope said.
“These new regulations require landlords to negotiate rent relief agreements with tenants in financial distress due to COVID-19 by applying the leasing principles in the National Code of Conduct.”
Mr Tudehope said the regulations - which also apply to commercial leases - would provide a clear way forward for tenants and landlords to reach agreements.
To facilitate these changes, and deliver increased mediation and advisory services to commercial parties, the NSW Small Business Commission will be bolstered with extra staff and an injection of $10 million from the $1 billion Working for NSW Fund.
Regulations relating to commercial leases were expedited under amendments passed by the NSW Parliament in March, which allow the Government to make laws that are reasonable to protect the health, safety and welfare of lessees or tenants during COVID-19.
New regulations to assist landlords and tenants in the residential sector were also published last week by the Minister for Better Regulation and Innovation.
Mr Perrottet said land tax relief would be available within weeks, with landlords also able to access a further land tax deferral for any outstanding amounts for a three-month period if they’ve claimed the land tax concession.
“Eligible landlords will be able to apply for a land tax concession of up to 25 per cent of their 2020 land tax liability on relevant properties so long as they pass on the full savings in the form of a rent reduction to their tenants,” Mr Perrottet said.
The commercial lease policy will apply to business tenants with a turnover of less than $50 million that experience a 30 per cent (or more) reduction in revenue as a result of the COVID-19 pandemic. 
For residential tenancies, households must show they have suffered a loss of income equal to or greater than 25 per cent due to COVID-19 and are struggling to make rental payments.
It is expected eligible landlords will be able to apply for land tax rebates from Service NSW from Monday, 4 May 2020.
More information is available via <a href="http://www.service.nsw.gov.au" target="_blank">Service NSW</a>.
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j.ballantyne1990-6AQqhLzZaK

NSW Government acts to support commercial tenants and landlords

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An abandoned Townsville heritage building, long known as Stanton House is available for lease as its renovation nears completion.
The premises at <a href="https://www.raywhite.com/qld/townsville-city/754925/?lang=en" target="_blank">197 Flinders Street</a>, Townsville City, was built in the 1880s.
It will shortly have multiple tenancies for office, retail and hospitality use. 
The three-storey colonial-style building overlooks the Ross Creek.
The historic building was built for Townsville’s first butcheries in 1884.
It was then occupied by an insurance company before being sold in 1932 and extended into the headquarters of the Anglican Church.
Stanton House in honour of George Stanton, who was the first Anglican bishop of North Queensland.
Ray White Commercial agent Troy Townsend is marketing the property.
There will be two ground floor retail tenancies and four professional office suites on levels one and two, he said.
The premises have views across the Ross Creek and Townsville Yacht Club Marina.
Lease rates for office space will start $220 per square metre.
The retail tenancies will start at $400 per square metre. 
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Stanton House, Townsville on the hunt for commercial tenants

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A top floor commercial tenancy at Murarrie has been leased to a wholly owned subsidiary of Japanese Giant Mitsubishi Corporation.
The business has secured 838 sqm of commercial office space at <a href="https://www.realcommercial.com.au/property-offices-qld-murarrie-502377526" target="_blank">Building 2, Gateway Office Park, 747 Lytton Road</a>.
Shaw Harrison at Savills struck a deal with the incoming tenant at an attractive rate over a 5 x 5 year term on behalf of GARDA Diversified Property Fund.
“Executives of parent company Mitsubishi were scouting the market for suitable premises, and we took them around a number of properties including Building 2 which was occupied at the time," he said.
“GARDA were pleased of our introduction as their existing tenant was due to vacate in a few months."
The newly formed company will be working intimately with businesses in the SME market to help them reduce the overall cost of vehicle ownership while improving driver safety and OH&amp;S compliance in this area.
The location of the building is key for the company given the ease of access to the CBD, airport and coast-to-coast motorway.
The building, which forms part of Gateway Office Park, is situated on the corner of Lytton Road and Creek Road, with excellent proximity to the CBD, surrounding commercial precincts and the Gateway Motorway interchange. 
“There is limited vacancy now within the building and, in addition to the quick take up of this floor, we have had significant interest from other tenants looking to occupy within the area.
 
 
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Mitsubishi Corporation’s subsidiary secures top floor at Murarrie

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Frasers Property Australia, Sekisui House Australia and Impact Investment Group have secured the University of Technology Sydney (UTS) as a new commercial tenant at Central Park, Sydney.
UTS will occupy the commercial space in One Hundred Broadway, on the corner of Abercrombie Street and Broadway in the $2 billion Central Park master planned community in Chippendale.
UTS’s Graduate School of Health (GSH) intends to relocate to One Hundred Broadway, from where it will provide postgraduate courses in the disciplines of pharmacy, clinical psychology, orthoptics and physiotherapy, along with new programs such as genetic counselling, Indigenous health and speech pathology, as they are developed.
The School also plans to operate a multidisciplinary primary health care clinic at Central Park that supports its teaching and research in these disciplines but which will also be of benefit to the community.
UTS will lease the entire commercial space of approximately 5,500 square metres over a 15-year term with two ten-year options. The commercial space, known as One Hundred Broadway, spans six levels.
Central Park’s Project Director, Mick Caddey, said the UTS Graduate School of Health was an excellent tenant for the commercial space at One Hundred Broadway.
The Graduate School of Health has about 500 senior, postgraduate students.
Up to 300 students will attend the Central Park premises during semester in addition to 80 full-time researchers and clinical staff, along with patients and clinical research participants.
UTS Deputy Vice-Chancellor (Resources), Patrick Woods, said a number of compelling factors including it being ideally located in relation to its growing city campus.
Postgraduate students, researchers and staff in turn will benefit from proximity to the amenities at Central Park, including the five-level Central Park Mall, which features over 50 specialty retailers, a Palace Cinema (opened late 2017) and Woolworths, two childcare centres, the Kensington Street dining and lifestyle precinct, and the precinct’s public park, Chippendale Green.
Currently under construction, the DUO development, which includes One Hundred Broadway, is due for completion in late 2018. The Graduate School of Health expects to begin operating there in mid- 2019.
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UTS sign Central Park, Chippendale tenancy 

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Frasers Property Australia (formerly Australand) has secured two new tenants – Phoenix Transport and Survitec – at its 6 Star Green Star Horsley Drive Business Park.
Phoenix Transport has entered into a 10 year lease for an 8,478 square metre facility comprising 7,878 square metre warehouse space and 600 square metres of office for its contract warehousing and logistics business.
Survitec has signed a 12 year lease for a 5,855 square metre facility comprising 5,255 square metres of warehouse space and 600 square metres of office. Survitec specialise in the supply of marine, fire, life support and gas control equipment as well as providing project management services to government departments and major corporations.
Both facilities have been designed to achieve a 6 Star Green Star Design and As-Built rating from the Green Building Council of Australia. 
Horsley Drive Business Park is a 20.4 hectare site owned by the Western Sydney Parkland Trust (WSPT) and is located on the corner of Cowpasture Road and The Horsley Drive.
Frasers Property has entered into a development agreement with WSPT to deliver a high quality industrial estate with a mix of facility types.
Some of the 6 Star Green Star features in the building include electronic vehicle charging points, geothermal air conditioning, LED lighting to all warehouse and office areas, Solar PV system to generate renewable energy for use on site, air source heat pump hot water system and 10% translucent roof sheeting to provide high levels of daylight.
Frasers Property has developed over 1,300,000 square metre of office and industrial buildings that are certified or registered under the Green Building Council of Australia’s Green Star rating system.
The company has achieved Australia’s first Green Star Performance (Operational) rating for its portfolio and is committed to delivering a minimum 5 Star Green Star rating on all new industrial developments that are to be retained by the group.
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Phoenix Transport and Survitec move into 6 Star Green Star Horsley Drive Business Park

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Unlisted property fund manager Quintessential Equity, has secured ACT Health as a new majority tenant at its office building in Canberra.
The recently refurbished building at 2-6 Bowes Street in Woden Town Centre will become the new home of ACT Health and 750 of its workforce.
The ACT Government agency has signed a long term, 15-year deal to occupy nearly 90 percent of the building and lease around 11,000 sqm of office space.
The formerly vacant building is now fully leased with existing tenants, the Commonwealth Government and Employment Plus, making up the rest of the office.
Quintessential Equity COO, Russell Bullen, said the arrival of ACT Health to Woden Town Centre is a huge vote of confidence in the area and firmly establishes its credibility as the epicentre of health administration in the nation’s capital. 
“We are delighted to welcome ACT Health to our Bowes Street property and we are excited at what it will mean for the area as a whole."
"The addition of 750 employees to Woden will be a much needed boost for the local community and we hope this Government agency relocation will pique the interest of other State and Federal Government departments and health related organisations to consider a move to the Woden Town Centre."
Purchased for $14 million in June 2012, the property underwent a nine month regeneration in 2014 designed to achieve a 5-star NABERS Base Building Energy Rating.
“The substantial upgrade of the property in 2014 - which included the installation of new lifts, services and refurbished amenities - completely transformed the building and the offering for potential tenants," Bullen said.
"It’s now fully equipped to provide high quality office accommodation for our tenants.” 
 
 
 
 
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Quintessential Equity secures ACT Health as new majority tenant at Canberra Property

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The KFC restaurant at Annandale, off Townsville's Bruce highway, is up for sale through Savills Retail Investments in a formal tender campaign starting late July.
The drive-through KFC restaurant adjoining the Annandale Central Shopping Centre and is directly opposite the Lavarack Army Barracks.
It has a new 10 year net lease.
Savills national director of retail investments, Peter Tyson, said it is an ideal investment opportunity for private investors and Self-Managed Superannuation Funds.
“KFC Annandale benefits greatly from close proximity to a variety of major employers and traffic generators including numerous primary and secondary schools, the James Cook University, Townsville Hospital, Annandale Shopping Centre as well as the expanding Lavarack Army Barracks, Australia’s largest military base which is located directly opposite the property,” he said.
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jonathanchancellor-7SQnKwU6yx

Townsville KFC outlet up for sale 

<html><body><div class="cq-article-content-paras section">
The sheer weight of capital being poured into Australian commercial property was impacting on pricing and yields, Christine Phillips, the head of asset management at AustralianSuper says.
It meant buyers had to make questionable assumptions about rent and core tenancy demand to justify their acquisitions, she advised as reported by the Australian Financial Review during a Property Council lunch in Melbourne on Tuesday.
"I see a potential unwinding of those assumptions, particularly in the office market," she said.
In an office market like Sydney, more supply has been mooted for a market that arguably does not need any more, she added.
Ms Phillips said growth opportunities were better in offshore markets.
"We have mandates to invest in UK office and retail property, US office, retail and multi-family accommodation and to invest in Europe," she said.
"Access to these types of assets is just not there in Australia."
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jchancellor-FAypfDUnLy

AustralianSuper says better commercial property opportunities offshore

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Southport has been attracting more commercial tenants and investors in the recent times resulting in decreasing office vacancy and rising capital values, according to Colliers International.
Southport is the largest commercial precinct on the Gold Coast with over 150,000sqm of office space.
Cameron Wilson, director in charge at Colliers International on the Gold Coast, said Southport’s office vacancy rate is expected to further tighten over the coming three years with the upcoming Commonwealth Games and Queensland Government’s Priority Development Area designation and provisions being the key drivers.
“Current office vacancy in Southport is assessed at 13.8%; five years ago this figure was close to 22%. As a result rental rates are firming and with that, capital values are rising and investment yields are compressing," he said.
“Two years ago, there was over 5,000sqm of small strata offices for sale in Southport Central that were achieving prices of around $2,200 to $2,700 per square metre. In the last 6 months we have seen this on market rate decline to around 1,500sqm and a rise in capital values of about 20 per cent, which equates $2,500 to $3,200 per square metre.
“Colliers International is aware of several tenants relocating into Southport to take advantage of Queensland Government provisions and ease of planning, with the top two industries moving into the area being educational/training providers and health/medical groups.
“Over the past 12 months, sales of major commercial holdings in Southport indicate a strong appetite from investors looking to secure a foothold into the area for both passive investment and future mixed use developments." 
According to James Crawford, director of investment services at Colliers International, Gold Coast City Council’s infrastructure developments in the area are supporting its growth.
“Recent Smith Street Motorway upgrades have improved commuter access during peak times. In addition to this the Broadwater Parklands Stage 3 upgrade is well underway and continues to improve the overall amenity."
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 Southport commercial office market heating up‏

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Snap Fitness is opening up a new gym in Sherwood after signing a 5 year lease with a 5 year option at $190,000 per annum.
Snap Fitness was looking to expand their services into the area and found the high exposure location at 689 Sherwood Road ideal.
The 490qm retail tenancy was previously occupied by Joval Group who had to find another location before vacating the tenancy.
Conor Whiting, executive of office leasing at Colliers International who negotiated the leases for both businesses said leasing documents had to be signed simultaneously for the deals to go ahead.
“Joval Group had a year and a half left on their lease and were looking at other options as they weren’t utilising 300sqm of the space at the Sherwood Road tenancy. We assisted them in finding a new location so they could be released from the current tenancy."
“Joval Group's requirement was to downsize and still remain within the fringe location. As a result we found a suitable new 138sqm new tenancy with adequate parking at 47 Park Road in Milton for which they signed a 3 year lease with a 3 year option at $63,900 per annum”, says Mr. Whiting.
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