<a href="https://www.apartments.com.au/developments/collingwood-vic-3066">Collingwood</a>’s northern edge continues to sharpen its reputation as one of Melbourne’s most compelling cultural precincts, where established creative institutions, leading hospitality, and independent fashion converge within a tightly held inner-city neighbourhood.

Set within this evolving pocket, <a href="https://www.apartments.com.au/new-apartments/derby-street-by-milieu-collingwood-4-derby-street-collingwood-vic-3066">Derby Street by Milieu</a> draws on a location that balances proximity to some of the inner north’s most influential destinations with the quieter, tree-lined character that defines the streets edging East Melbourne. Positioned just moments from both Smith and Gertrude Streets, the address sits on the periphery of Collingwood’s cultural core, offering immediate access without the intensity of its busiest frontages.&nbsp;

[smartcode_project:default project_id=145576 project_image_fid=355945]

Gertrude Street, in particular, anchors the area’s identity as a destination for Melbourne’s leading food, art and fashion. Within a short walk, venues such as Marion, Cutler &amp; Co, IDES and the Builders Arms Hotel define a tightly curated dining scene with enduring citywide appeal, complemented by a strong fashion and retail presence including Havn, Le Labo and a selection of independent boutiques.

Nearby, institutions such as the Australian Print Workshop and Collingwood Yards sustain a constant rhythm of exhibitions, performances and creative output, embedding art and culture into the everyday fabric of the neighbourhood.

Smith Street, running parallel, extends this offering with a broader mix of hospitality and nightlife, maintaining its status as one of Melbourne’s most active inner-urban strips.

Beyond these high-energy streets, the immediate surrounds shift in tone. Derby Street and its neighbouring blocks are defined by low-rise heritage terraces, mature trees and a settled residential character. Fitzroy Gardens and Carlton Gardens are both within walking distance, alongside the Royal Exhibition Building and Melbourne Museum, bringing together green space and cultural landmarks within minutes of home.

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Connectivity remains a key advantage. The CBD sits within easy reach, accessible by tram along Smith Street in around 20 minutes, while also remaining close enough to walk or cycle, supported by the inner north’s established bike network.&nbsp;

<a href="https://www.apartments.com.au/developers/milieu-property">Milieu</a>’s long-standing connection to Collingwood underpins the project’s approach. With a portfolio that includes multiple nearby developments across Bedford, Peel and Napier Streets, the developer brings a sustained understanding of the area’s character and evolution. Derby Street continues this trajectory as a collaboration with award-winning Melbourne-based <a href="https://www.apartments.com.au/architects/studio-bright">Studio Bright</a>, marking the practice’s first multi-residential project in the inner north and reflecting a shared focus on design integrity and contextual response.&nbsp;

Balancing connection to the neighbourhood with a sense of seclusion and refuge, Derby Street by Milieu embodies a level of care and craft typically reserved for single residential projects. Comprising 22 residences across six storeys, with two to four-bedroom configurations priced from $1.15 million, the project is currently under construction with completion expected in late 2027.&nbsp;

[smartcode_project_cta:default project_id=145576]

Joel Robinson

Derby Street by Milieu, at the top end of Collingwood

A rare new apartment development in the Blue Mountains is the latest in a string of State Significant Development Applications submitted through the New South Wales Government's Housing Delivery Authority.

A total of 270 apartments are being proposed for the 1.16-hectare site at <a href="https://www.apartments.com.au/new-apartments/blue-mountains-alpine-retreat-142-150-narrow-neck-road-katoomba-nsw-2780">142–150 Narrow Neck Road in Katoomba</a>, a parcel of land adjoining the former Katoomba Golf Course. The site was acquired for $3.85 million in 2021 by private developer VDM Prime.

The apartments, comprising a mix of serviced apartments, affordable housing, and traditional build-to-sell product, will be spread across eight low-rise buildings, along with a separate building for a new restaurant, arranged around a green spine that leads to a central park.

<img alt="Katoomba" data-entity-type="file" data-entity-uuid="ee9a2072-f465-44f1-9076-80c9c8ecca02" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-04-22%20at%209.20.21%E2%80%AFAM.png?VersionId=4bT0vQ7j_syl65wcrJmHGm3m5pTvwrY_" />

The Urban Design Report by Atlas Urban says the vision is to create a "contemporary mountain precinct that is responsive to its escarpment landscape, heritage character, and community context."

"The development responds to the current housing supply and affordability challenges identified under the NSW Housing Delivery Authority (HDA), providing a balanced mix of standard, affordable, and short-stay accommodation," the report noted.

"By introducing a variety of dwelling types and tenures, the proposal supports intergenerational living, local workforce retention, and greater housing choice within an area constrained by topography, heritage, and environmental protections."

Of the 270 units proposed, 52 will be serviced apartments. The remainder will comprise 54 studios, 121 one-bedroom units, 39 two-bedroom apartments, and four three- to four-bedroom residences.

<img alt="Katoomba" data-entity-type="file" data-entity-uuid="f704508d-1bdf-4170-955d-0256652402a7" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-04-22%20at%209.56.49%E2%80%AFAM.png?VersionId=TzarHMO4gTOsblCqsbJQkvMqWj9nu2Au" />

The Design Report, by VDM Prime and appointed architect Antoniades Architects, noted that the design seeks to "provide a built form outcome that is highly considered, respectful and contextually fitting, whilst contributing positively to an evolving precinct."

"The site offers three frontages and the opportunity to provide a meaningful interface with the public domain environment. the design has a sympathetic response to streetscape and the green open space that surrounds the site."

The report states that the buildings are broken up to establish an appropriate bulk and scale, emphasised through height and setback strategies and defined through articulation that supports the transition of precinct granularity. It also notes that a central communal open space is established through the site to enhance the social dynamic and access to amenity, including natural ventilation and light to the apartments. The east and west frontages receive solar access during the morning and afternoon, whilst maximising views to the green open space.

The site adjoins the recently completed Yarrabee Katoomba development, comprising 24 duplexes that were completed last year and sold through McGrath Projects.

The relatively new Housing Delivery Authority pathway established by the NSW Government allows developers to submit State Significant Development Applications through a fast-tracked state process, effectively reducing reliance on local council approval pathways and aiming to accelerate housing delivery across New South Wales.

First look: Nearly 300 apartments pitched on former Katoomba golf course site

In Melbourne’s established inner east, the qualities that define a traditional house, width, height, and access to open ground, are increasingly difficult to replicate in new residential developments. Larger landholdings are scarce, and with them, the ability to create apartments that extend beyond compact, internalised layouts.&nbsp;

In <a href="https://www.apartments.com.au/developments/kew-vic-3101">Kew</a>, where the residential fabric is shaped by generous setbacks and mature tree canopies, that tension is especially visible.

<a href="https://www.apartments.com.au/developers/ricdanic-investments-pty-ltd">Ricdanic</a>&nbsp;is bringing forward a boutique collection of just 13 residences across two buildings at 9–11 Wimba Avenue, Kew. Comprising six homes at No.9 and seven at No.11, the project sits on a quiet, tree-lined street just off Cotham Road.&nbsp;

Each apartment has been planned with a level of independence more commonly associated with standalone dwellings, balancing privacy with the efficiencies of apartment living.

Architect Chris Idle, who has been practising for over two decades, says projects like this don’t come along often.

“There are very few opportunities to do these kinds of developments in leafy, established suburbs,” he explains. “To get this level of amenity, natural light, and architectural freedom in such a setting is extremely rare.”

[smartcode_project:default project_id=140755 project_image_fid=366267]

The internal planning begins with width. Living areas extend beyond five metres, allowing furniture, circulation, and glazing to sit comfortably within the same zone without compression. Ceiling heights shift from three metres through to five metres in select areas, changing the sense of scale as you move through the apartment. These proportions are paired with double-glazed windows and fully electric systems, balancing volume with performance, supported by a 7.2 NatHERS energy rating.&nbsp;

From the main living space, the apartments open directly outward. Large sliding doors connect to private gardens averaging 125 square metres, with some residences also incorporating balconies of around 60 square metres. Rather than acting as secondary outdoor zones, these areas sit flush with the internal floor level, extending the usable footprint of the home and allowing for multiple modes of use, whether for quiet daily routines or larger gatherings.&nbsp;

The landscape, led by <a href="https://www.apartments.com.au/landscape-architect/john-patrick-landscape-architects">John Patrick</a>, reinforces this relationship. Across the site, 23 different plant species have been introduced, including a mix of native and established varieties, arranged to maintain privacy while preserving sightlines and light access. Gardens are not treated as decorative buffers but as functional extensions of the apartments, shaped to accommodate movement, seating, and informal use over time.&nbsp;

[smartcode_project:default project_id=140755 project_image_fid=366265]

Architecturally, the project draws from Kew’s historic residential language. Handmade bricks by Krause define the exterior, grounding the buildings within the material palette of the suburb, while interior finishes, stone, timber flooring, and restrained detailing, continue this approach internally. Architect Chris Idle describes the intent as long-term rather than stylistic: “We wanted it to feel timeless.”&nbsp;

This emphasis on durability extends to how the buildings are accessed and secured. Entry is managed through keyless systems, with a double-gated basement incorporating number plate recognition for vehicle access. Each residence is paired with a private lock-up garage accommodating two to three cars, alongside storage, while all entry points are monitored continuously. These measures sit alongside EV readiness and fully electric infrastructure, aligning the project’s operational systems with its long-term design outlook.&nbsp;

The setting remains central to how the development is experienced. Located within walking distance of Kew Junction and close to established schools including Carey Grammar and Xavier College, the address benefits from existing infrastructure while maintaining a residential quietness that is increasingly difficult to find at this scale.&nbsp;

Construction is being delivered by <a href="https://www.apartments.com.au/builders/sinjen">Sinjen</a>, with a 10-year structural guarantee, with completion targeted for mid-2027.

[smartcode_project_cta:default project_id=140755]

Inside Wimba Ave, Kew’s garden-scale residences designed for space and permanence

High-end Sydney developer&nbsp;<a href="https://www.apartments.com.au/developers/abadeen-group">Abadeen</a> has secured approval for one of its latest Mosman projects, one of the first developments approved by Mosman Council under the NSW Government’s Low and Mid-Rise Housing Policy.

The approval represents an important step in delivering well-considered housing next to established village locations on Sydney’s Lower North Shore, in line with the intent of the Low and Mid-Rise zoning framework. 
&nbsp; 
There are currently 13 other sites lodged within Mosman Council under the policy, with <a href="https://www.apartments.com.au/new-apartments/27-29-heydon-street-mosman-nsw-2088">Heydon Street</a> among the first to receive development consent. 
&nbsp; 
Abadeen Founder and Executive Chairman Justin Brown said the project reflects a considered and appropriate response to its planning context. 
&nbsp; 
“This approval demonstrates how carefully considered, design-led development can align with the objectives of the Low and Mid-Rise Housing Policy," Brown said.

"The scheme has been designed to respond sensitively to its village setting, with a built form, scale and level of amenity appropriate to its local context. The determination reflects a balanced and considered planning outcome, with Council recognising the capacity for this site to accommodate additional housing within a well-located and established precinct.”

<img alt="Abadeen secures first approval under low and mid-rise housing policy for Heydon Street, Mosman" data-entity-type="file" data-entity-uuid="92811ce3-02e8-44fc-996e-c61ae039bd3e" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Heydon%20Street%20Aerial.jpg?VersionId=ZHJVuWQT64QcdrFJx963pFWFzTX7lI2I" />

The Heydon Street approval followed extensive consultation with Mosman Council, with Abadeen working closely with Council throughout the assessment process.

The approved scheme comprises 27 residences, with only four per floor, creating a low-density living environment. The building will include four half-floor penthouses designed to capture views across Middle Harbour, Sydney Harbour and the surrounding district.&nbsp;

The project is expected to appeal to downsizers and owner-occupiers seeking house-like proportions, privacy and local convenience. There will be north-facing Middle Harbour views from the second level upward. It is also just a flat 100-metre walk to Bridgepoint Shopping Centre, which will appeal to owner-occupiers and in particular downsizers.

Two-bedroom residences are expected to be priced from $1.99 million when sales launch later this year. 
&nbsp; 
Joe Tack, CEO at Abadeen, said the outcome reflects both the quality of the site and the broader need for well-located housing. 
&nbsp; 
“This is a highly considered site within a highly established local setting, offering elevated views and strong connectivity. The project has been designed to respond to that context, delivering a scale and quality of housing aligned with both the planning framework and evolving market demand.” 
&nbsp; 
“This approval is particularly significant in the context of Mosman, where new housing supply has historically been limited. While it represents the first approval of this scale in Mosman to be achieved in over 50 years, it is importantly located within a well-established residential location, in close proximity to the established commercial amenity of Spit Road and Mosman Village. It reflects strong confidence in Abadeen’s approach to design, delivery and community integration, while contributing to the delivery of much-needed housing in a highly constrained market.”

Abadeen has an established track record across Sydney’s Lower North Shore, with recent completions including KOYO in Crows Nest and ENSO in Neutral Bay.

In Mosman, Abadeen recently completed The Hampden, with Mosman Residences on the corner of Spit Road and Clifford Street scheduled for completion later this year. Construction has also commenced at Burran Residences, comprising three full-floor ultra-premium homes positioned just 50 metres from Balmoral Beach, with residences expected to achieve prices in excess of $20 million. Two further projects are also progressing through planning within the local government area.

Abadeen secures first approval under low and mid-rise housing policy for Heydon Street, Mosman apartment development

Apartment developer <a href="https://www.apartments.com.au/developers/martello">Martello™</a> is one of the latest entrants to the Gold Coast development market, with its debut project set to be one of the most boutique offerings on Chevron Island in recent years.

Martello has unveiled <a href="https://www.apartments.com.au/new-apartments/aere-chevron-island-18-20-mawarra-street-chevron-island-qld-4217">Aere Chevron Island</a>, a collection of 33 large-scale two-, three-, and four-bedroom apartments across an 18-storey building on Mawarra Street.

[smartcode_project:default project_id=143932 project_image_fid=367517]

The developer has placed a strong emphasis on wellness, briefing architecture firm Raunik Design to embed this philosophy into the project. It is a direction <a href="https://www.apartments.com.au/developers/martello">Martello™</a> plans to carry through its future developments along the coast.

<a href="https://www.apartments.com.au/developers/martello">Martello™</a> has positioned Aere as a continuation of its human-centric development approach, with a focus extending beyond amenity to the fundamentals of layout, natural light, and spatial planning. Promax Construction has already been appointed to deliver the project, with construction expected to commence in the coming months as part of the group’s broader expansion into South East Queensland.

Rising above the low-rise fabric of Chevron Island, Aere’s design emphasises generous internal proportions and uninterrupted outlooks, with residences oriented to capture coastal, skyline, and waterway views. Interiors prioritise open-plan living, with large-format glazing and carefully considered transitions between indoor and outdoor spaces.

[smartcode_project:default project_id=143932 project_image_fid=367508]

The upper levels are dedicated to larger-format homes, including four-bedroom residences designed as half-floor offerings. These layouts prioritise separation between living and sleeping zones, along with increased privacy and storage, features more commonly associated with detached housing than traditional apartment product.

Aere’s private resident amenity spaces centre on wellness. A rooftop level will incorporate a heated swimming pool, sauna and spa, alongside a residents’ lounge, dining areas and barbecue spaces, while additional shared facilities throughout the building include a gym and yoga area.

The inclusion of both social and quieter retreat spaces reflects a broader shift in higher-end apartment design on the Gold Coast, where developers are increasingly responding to owner-occupier demand for buildings that support long-term living rather than short-stay use.

[smartcode_project:default project_id=143932 project_image_fid=367814]

Aere is positioned within walking distance of Chevron Island’s village centre along Thomas Drive, as well as the HOTA cultural precinct via the Green Bridge, connecting residents to parklands, galleries, and event spaces.

For <a href="https://www.apartments.com.au/developers/martello">Martello™</a>, Aere represents the first in a series of planned Gold Coast developments, with the group also exploring opportunities in other coastal precincts, including Kirra and Palm Beach.

The move north comes as sustained population growth and infrastructure investment continue to reshape South East Queensland, with developers increasingly targeting boutique, design-led projects in established lifestyle pockets. Aere’s relatively small scale and emphasis on spatial quality position it within this emerging segment of the market.

[smartcode_project_cta:default project_id=143932]

Martello™ enters Gold Coast market with wellness-led Chevron Island development Aere

Cushman & Wakefield

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Commercial real estate investment in Australia reached a new record level of $42.6 billion in transactions during the 2019 financial year (FY19), up 22% from the $34.9 recorded in FY18, according to Cushman &amp; Wakefield research.
Their research showed, during the financial year, investment in office assets reached a new high of $23.1 billion boosted by a number of major transactions as the financial year came to a close.
The transactions they refer to are Dexus acquiring 80 Collins Street, Melbourne for $1.476 billion, and the sale of 100 Market Street and 77-85 Castlereagh Street, Sydney to Blackstone for $1.52 billion.
Office investment volumes were highest in New South Wales which recorded a total of $10.2 billion in FY19, with Sydney remaining the most active market for office transactions in FY19.
Cushman &amp; Wakefield research shows that Sydney CBD prime gross effective rents grew 9.1% in the 12 months to June 2019, well above the long-term average, while vacancy declined to 4.1%.
Cushman &amp; Wakefield’s Head of Research, Australia and New Zealand, John Sears, said, “Investment in Australian commercial property remains in strong territory, with sustained investor demand for office assets across the country as rents ran higher and vacancies tightened. We saw landmark office deals in Sydney and Melbourne recently completed, and the pipeline remains strong. In Brisbane, the investment outlook remains positive and a number of office assets are commanding strong investor interest and are likely to transact in Q3.”
“With the bond yield falling around 130bps in the 2019 financial year and office yields remaining steady, the relative attraction of these assets also helped buoy investor demand. However, we are not yet calling the bottom of the yield cycle. Solid rental growth, improving funding costs plus the blowout in the spread to bonds suggests there is still room for commercial yields to decline further,” Mr Sears said.
Foreign investment also trended higher in FY19, recording a total of $19.3 billion and accounting for 45% of all transaction volumes.
Multinational investors such as Blackstone were among the major sources of foreign investment into Australia, while Canada and Singapore were also prominent sources of inbound capital.
Cushman &amp; Wakefield’s Managing Director CRE NSW, Simon Fenn, said, “The combination of stock withdrawal, the development of quality pre-committed supply and an unprecedented infrastructure spend is drawing both local and offshore capital.”
“With CBD stock unable to meet demand, investors are increasingly looking to metro areas that are also experiencing strong leasing conditions.”
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j.ballantyne1990-6AQqhLzZaK

Commercial real estate investment reaches new record high of $42.6 billion

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Cushman &amp; Wakefield announced the acquisition of one of South Australia’s largest trade services businesses, the Smith Brothers Group (Smith Brothers).
Comprising 200 people the Smiths Brothers team will join Cushman &amp; Wakefield’s Australian occupier services platform and be part of the company’s Global Occupier Services network.
The acquisition of Smith Brothers, one of the largest private services groups in South Australia with a national portfolio of 6,000 customers adds to Cushman &amp; Wakefield’s existing national team of more than 1,800 property professionals.
As part of the acquisition, Smith Brothers founder, Chris Smith, will lead Cushman &amp; Wakefield’s trade services business in Australia and New Zealand.
Matthew Bouw, Chief Executive Officer, Asia Pacific, Cushman &amp; Wakefield, said, “I am thrilled to welcome Chris Smith and the team to Cushman &amp; Wakefield. This acquisition combined with our 27,000+ facilities management associates globally, advances our ability to deliver the highest quality, globally integrated services to major occupier clients in any market across the world.”
James Patterson, Chief Executive, Australia and New Zealand, Cushman &amp; Wakefield, commented, “this acquisition not only expands occupier services with an additional 200 staff in South Australia, it also adds to the current depth of experience and capability in education, government and health.
Chris Smith, Smith Brothers founder and newly appointed Head of Trade Services, Cushman &amp; Wakefield said, "we see tremendous value for Smith Brothers clients and staff in joining Cushman &amp; Wakefield. 
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Cushman & Wakefield acquires South Australian trade services business Smith Brothers

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Sydney’s Pitt Street Mall has remained as the world’s 7th most expensive retail precinct, with rents remaining steady at $14,000 sqm, according to the latest rankings from Cushman &amp; Wakefield.
The annual ‘Main Streets across the World’ report, released annually by Cushman and Wakefield, found that Pitt Street Mall has maintained its premium position despite relatively flat rental growth and an ongoing rise in online retail sales.
According to the report, strong foot traffic and the increased demand for experiential shopping is supporting rents and most retailers continue to trade strongly within the precinct, particularly in the high-end luxury category.
Rankings for the Asia Pacific region shows Pitt Street was third most expensive behind Hong Kong’s Causeway Bay and Tokyo’s Ginza district, with Melbourne’s Bourke Street Mall climbing the APAC rankings from 6th to 5th at $7,000 sqm.
<img src="https://www.urban.com.au/images/2018/11/15/Rental%20Trends%20APAC.JPG" alt="">
Brisbane’s Queen Street has maintained it's 8th place spot in the APAC region, with retail rents averaging $4,500 sqm.
Matt Hudson, National Director of Retail Leasing, Cushman &amp; Wakefield Australia and New Zealand, said “Australia has firmly maintained its position as host to one of the world’s top ten most expensive retail streets, encouragingly, demand for large stores has been strong."
"A number of key locations are under development and currently seeking large scale flagship tenants, which is providing heightened competition for key shopping malls which do not offer the street or brand exposure of a flagship location.”
“In Sydney, there are also a minimum of 6 new retail precincts under development in and around the CBD, providing opportunity for retailers," noted Mr Hudson.
Michael Di Carlo, Director of Retail Leasing, Cushman &amp; Wakefield Australia and New Zealand, added, “while rents have remained at stable levels, with continued growth in online sales and uncertainty in consumer confidence, there has been a general increase in retailer requests for break clauses and/or shorter leases.
He said, "this is evident in the rise of small businesses opting for ‘try before you buy or lease’ options via pop up retail licenses as well as increased levels of landlord incentives."
Despite a small decline in average rents, Hong Kong’s Causeway Bay area took the number one spot, with a figure of USD$2,671 per square foot/year. 
This is primarily due to a a decline in New York rents which has seen Upper 5th Avenue slip back to second place globally, with average rents at USD$2,250 psf/yr compared with USD$3,000 in the previous 12-month period.
London’s New Bond Street meanwhile is the most expensive European location, in third place globally, with rents broadly flat year-on-year at USD$1,744 psf/yr.
Tokyo’s Ginza is the highest-ranked Asian street, with rents on average costing (USD$1,219 psf/yr).
According to the report, streets in emerging markets in Africa and Latin America account for most of the locations at the other end of the rankings, with rents as low as USD$20-30 psf/yr.
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Pitt Street remains world's 7th most expensive retail precinct

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The acquisition is targeted at accelerating the expansion of Australian agency platform Cushman &amp; Wakefield.
Knight Frank’s Sydney valuations business comprises 24 valuation professionals who will join Cushman &amp; Wakefield’s Australian valuations platform.
They will be a part of the company’s global valuations network that has executed valuations for assets in excess of US$3.7 trillion last year.
“With the combination of our 2,000+ global valuations professionals and this acquisition, Cushman &amp; Wakefield is well placed to provide comprehensive solutions for clients in any market across the globe,” said Matthew Bouw, Chief Executive Officer, Asia Pacific at Cushman &amp; Wakefield.
Effective today, David Castles and Matthew Russel will lead Cushman &amp; Wakefield’s national valuations practice across Australia.
This team which sits on all four major Australian bank panels, executed valuations for assets totaling more than US$65 billion in the last financial year.
James Patterson, Cushman &amp; Wakefield’s Chief Executive, Australia and New Zealand said “this acquisition provides us with opportunities to accelerate the growth of the company’s broader commercial real estate business, which will in turn positively impact our clients and people.
Mr Patterson added that, "it also complements our occupier business, which is one of the strongest in the country.”
Newly appointed David Castles, Joint Head of National Valuations, Cushman &amp; Wakefield, Australia said, “we saw an opportunity to leverage Cushman &amp; Wakefield’s global brand, alongside a truly national platform to create additional value for our clients and career opportunities for our people.”
This acquisition, pending Foreign Investment Review Board (FIRB) approval, follows the recent acquisition of Capital Markets firm, Inc RE, in July 2018, by Cushman &amp; Wakefield’s.
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Cushman & Wakefield have acquired Knight Frank’s Sydney valuation firm

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Brisbane Cushman &amp; Wakefield has announced the combined $24,075,000 sale of four childcare centres in Queensland, to Sydney, Melbourne and Brisbane based investors.
The sites, owned by a local childcare centre developer and operator all achieved record sale prices and yields, representing strong investor interest in some of the first modern large format centres to be sold in Queensland. 
The 28 Dixon Drive, Pimpama, Gold Coast centre sold for $6.2 million to a Sydney based high net worth family investor, representing a 6.12% yield.
The 5,950 square metre land area located on the Gold Coast is leased by the national centre operator, Petit Early Learning Journey, under a newly signed 15 year lease, plus a 9 year lease to Rackley’s Swim School – collectively generating a net income of $380,000 per annum.
The 38 Wellington Street, Wooloowin, Brisbane property located sold for $6.015 million to a Melbourne based listed property trust.
Sold on a 6.65% yield, the 2,539 square metre property has a new 15 year lease in place with national childcare operator, Petit Early Learning Journey.
The 536 Logan Road, Greenslopes, Queensland centre was sold for a near record $6 million to a high net worth private investor, representing a 6% yield.
The 2,434 square metre site is operated by an independent childcare provider, Harmony Early Learning Journey, under a newly signed 15 year lease.
The 146-148 West Burleigh Road, Burleigh Heads, property was marketed as a ‘state of the art’ 3-level childcare centre which sold for $5.86 million on a 5.8% yield with a new 20 year lease in place.
The 1,067 square metre site is adjacent to Stockland Shopping Centre anchored by Woolworths and Aldi, and situated 2 kilometres from other retail outlets and the James Street precinct. The centre is currently operated by Petit Early Learning Journey.
According to Cushman &amp; Wakefield research, the market for childcare centres in Queensland remains well supported by underlying fundamentals, as government subsidies are expected to extend from a total of $7.2 billion in FY17 to over $10 billion in 2021.
Cushman &amp; Wakefield completed the above transactions over the course of the second half of 2017.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2018/3/29/28%20Dixon%20Drive%20Pimpama%2002.jpg" alt="">
Mitchell Willet said these were four of the largest centres sold in Queensland to date, with the Pimpama site setting a new record for the highest quantum dollar paid for a freestanding centre in Queensland.
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Queensland childcare centres sell for combined $24 million

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Cushman &amp; Wakefield have sold two adjacent retail properties in the heart of Ashfield, Sydney, for a combined $14.53 million.
Both sites were sold to high net worth Australian investors based offshore, on behalf of the Sydney based private developer of the mixed-use Lumina project.
<img src="https://www.urban.com.au/images/2018/3/1/Street%20front_2.JPG" alt="">
The sites on the high street retail strip on Liverpool Road in Ashfield are currently in use as an ANZ Bank branch and Chemist Warehouse outlet, each with long terms leases in place:
<ul>
<li>Chemist Warehouse 1/270 Liverpool Road, Ashfield, Sydney: The retail space located on Liverpool Road, in Ashfield, sold for over $8.88 million, with a recently signed 10 year lease and option to extend. The 789 sqm retail site is currently occupied by pharmaceutical retailer Chemist Warehouse, generating annual net income of $420,000 and a 4.89% yield.</li>
<li>ANZ Bank 2/270 Liverpool Road, Ashfield, Sydney: The 274 sqm site located at 2/270 Liverpool Road in Ashfield sold for $5.65 million representing a yield of 4.4%. The site, occupied by ANZ Bank, comprises a new building with a 7 year lease, and generates a net annual income of $240,625.</li>
</ul>
The sale was managed on behalf of a private investor, and developer of the Lumina project by Cushman &amp; Wakefield’s Director, Sales and Investments, Anthony Bray.
Belle Property have just listed three retail spaces in the new Ashfield Central development.
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Ashfield retail sells for combined $14.53 million

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Cushman &amp; Wakefield have sold an industrial development site in South East Melbourne for $2.6 million.
 
 
The Rowville development at <a href="https://www.realcommercial.com.au/property-land+development-vic-rowville-502588742" target="_blank">28 Enterprise Drive</a> sold to a private local developer
 as availability of industrial stock in Melbourne’s south east continues to tighten.
The 6,030 sqm corner property is a vacant site located in the city of Knox within the Rowville industrial precinct, around 27 kilometres south east of Melbourne’s CBD.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/11/29/Aerial__Easklink%20%20Stud%20Road%20copy.jpg" alt="">
 
The site currently neighbours the Repco head office and is surrounded by other major corporate tenants such as Australia Post, Javac Pty Ltd &amp; CRL Australia.
Cushman &amp; Wakefield agents Andrew O’Connell and Jordie Cassidy managed the sale on behalf of local Rowville vendor, Matthews Australia Pty Ltd.
O’Connell, said they are pleased to have successfully completed the sale of the final block available for sale in the entire Rowville industrial precinct.
"The sale represents a record price for the City of Knox of more than $400 per sqm, with the severe shortage of developable land in Melbourne’s south east continuing to drive strong prices."
Given strengthening demand in Melbourne’s south east industrial market, Cushman &amp; Wakefield has recently launched a local office in Mount Waverley.
The new office opening is part of the continued expansion of Cushman &amp; Wakefield’s industrial agency business in Victoria that has grown substantially during 2017.
 
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jrobinson-rf4aSBido9

Cushman & Wakefield sells Rowville development site for $2.6m

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Bayleys, New Zealand’s leading commercial and industrial real estate agency, has re-signed its affiliate status with commercial real estate firm Cushman &amp; Wakefield. 
Bayleys Real Estate managing director Mike Bayley said the branding partnership with Cushman &amp; Wakefield was a winning ‘two-way’ street for both businesses. 
Bayleys is the largest privately owned real estate company in New Zealand with more than 1800 staff, which combined with Cushman &amp; Wakefield’s global reach and 45,000 employees around the world would provide its clients with more access to commercial real estate markets around the world
The joint reach of Bayleys and Cushman &amp; Wakefield in New Zealand would have 4,480 properties under management, totaling 7.8 million sqm. It will have a $2.3 billion commercial property portfolio across 83 offices and 2,000 employees.
“Real estate is essentially about who you know. Being part of Cushman &amp; Wakefield’s global alliance means a lot more potential buyers and tenants around the world can be introduced to the New Zealand property market by their trusted local real estate professional.... be they in Beijing, Sydney, Mumbai, London, Paris, or New York,” Bayley added.
Cushman &amp; Wakefield’s New Zealand integrated facilities management managing director, Paul Amato, said the company’s 71-year old business in the country was founded in facilities management, project management and trades services to both the corporate sector and major government departments.
“Our specialist knowledge of engineering, maintenance, sustainability and asset management is something that we can offer to Bayleys’ client base,” said Amato.
Bayley said the agency’s full-service product suite – encompassing sales and leasing, valuations, property management, and property operations advisory resources - also dove-tailed into the requirements of Cushman &amp; Wakefield’s international customers looking for representation in New Zealand. 
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jonathanchancellor-7SQnKwU6yx

NZ real estate agency Bayleys and Cushman & Wakefield extend partnership 

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Commercial investment activity in Australia in the third quarter remained strong with $8.8 billion invested over the quarter, amounting to a total investment of 23.3 billion so far this year, according to Cushman &amp; Wakefield.
This follows an exceptionally strong second quarter in which $9.2 billion was invested involving a flurry of large deals late in the quarter, according to the commercial real estate company’s latest research. 
The number of deals and average deal size remain broadly flat quarter on quarter at 186 deals at an average of $47 million. 
The total investment volume of $23.3 billion has increased from the $20.3 billion recorded at the same point last year. 
<a href="https://www.propertyobserver.com.au/images/2017/10/13/Q3TotalInvest.png" target="_blank">Click to enlarge</a>
<img src="https://www.urban.com.au/images/2017/10/13/Q3TotalInvest.png" alt="">
“With 10 assets at an estimated value of almost $2.4 billion on the market in Sydney CBD alone, the fourth quarter of 2017 looks likely to continues in the same vein as the start of the year,” it said.
<a href="https://www.propertyobserver.com.au/images/2017/10/13/Q3InvestbySector.png" target="_blank">Click to enlarge</a>
<img src="https://www.urban.com.au/images/2017/10/13/Q3InvestbySector.png" alt="">
<a href="https://www.propertyobserver.com.au/images/2017/10/13/Q3DomesticVsForeign.png" target="_blank">Click to enlarge</a>
<img src="https://www.urban.com.au/images/2017/10/13/Q3DomesticVsForeign.png" alt="">
<a href="https://www.propertyobserver.com.au/images/2017/10/13/Q3ForeignInvestment.png" target="_blank">Click to enlarge</a>
<img src="https://www.urban.com.au/images/2017/10/13/Q3ForeignInvestment.png" alt="">
Annual investment volume is expected to exceed $30 billion for the fourth consecutive year and could go close to the peak of $35 billion recorded in 2014. 
Unlisted funds continued their run of strong buying activity, ending the quarter at $1.5 billion in net purchasing.
In contrast, REITs retuned to net selling at $120 million in the red. 
Foreign investment slowed quarter on quarter to $2.5 billion, representing 29% of total investment. 
So far this year, foreign investors have committed $8.7 billion (37%).
<a href="https://www.propertyobserver.com.au/images/2017/10/13/Q3Transact.png" target="_blank">Click to enlarge</a>
<img src="https://www.urban.com.au/images/2017/10/13/Q3Transact.png" alt="">
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Commercial investment could exceed $30 billion in 2017: Cushman & Wakefield

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The office markets in Sydney and Melbourne are moderating after their strong run in 2016 while Brisbane and Canberra are picking up, according to the latest research by Cushman &amp; Wakefield.
The property agency’s national head of Office Leasing, Tim Molchanoff said: “During Q3, we saw a mild convergence across east coast office markets, as Sydney and Melbourne growth moderated from strong gains in 2016, while Canberra and Brisbane are picking up pace. A different picture is starting to emerge compared to 6 months ago.”
In Sydney, big deals were a key driver this quarter as major tenants moved to take up space in the CBD. In Melbourne, the big landlords competed for pre-commitments as major office developments continued at pace, he added. 
“For Brisbane, the recovery continues with vacancies modestly tightening in the prime market with tenant favourable conditions driving office upgrades,” said Molchanoff. 
Canberra saw the completion of Cromwell’s 30,000 sq m A-grade Tuggeranong development.” 
<a href="https://www.propertyobserver.com.au/images/2017/10/03/CushmanOffice.png" target="_blank">Click to enlarge</a>
<img src="https://www.urban.com.au/images/2017/10/03/CushmanOffice.png" alt="">
Following are the highlights from the 3rd quarter report.
Sydney – big lease deals return in Q3/ Prime rent growth bounces back
<ul>
<li>Vacancy declined, with the Premium rate compressing 300 basis points to 9.5%, while A grade at lowest rate (3.6%) since mid 2008.</li>
<li>Prime gross effective rents at $916 per sqm - up 1.6% QoQ and 6.9% YoY</li>
<li>Major deals: Clayton Utz renewed 17,000sq m (premium) at 1 Bligh St. Jobs for NSW signed on to 17,000 sq m (B-grade) at 11-31 York St </li>
</ul>
Melbourne - prime vacancy tightens, rents increase/developers vye for large tenants
<ul>
<li>Prime net effective rents at $376 p/sq m p.a - up 1.2% QoQ and 6.9% YoY.</li>
<li>In Q3, prime outgoings rose 7% QoQ, B grade outgoings up 10% as landlords passed on higher land tax expenses</li>
<li>Landlords jostled to secure large requirements with developers like Lendlease and Mirvac behind 12 CBD office towers under construction or approved</li>
<li>Major deals include: Recoveriescorp taking 3,562 sq m and Latitude Financial taking 9,744 sqm at 800 Collins</li>
</ul>
Brisbane – prime market leading the recovery
<ul>
<li>Prime gross effective rents have remained steady at 1.1% growth y-o-y</li>
<li>Annual net absorption saw prime vacancies decline from 15.5% to 11.7%.</li>
<li>Major deals: Deloitte renewing 6,000 sqm (premium) at 123 Eagle St, DSITI taking 3,000 sqm (A-grade) at 140 Creek St and QLD Electoral commission taking 1,822 (premium).</li>
</ul>
Canberra - New development completed in Tuggeranong
<ul>
<li>$352 prime gross effective rent (per sqm)</li>
<li>5.2% State Final Demand growth (annual avg) led all services sector states</li>
<li>Major deals: Cromwell’s 30,000 sq m A-grade development completed and will be occupied by the Department of Social Services from late Sept 2017</li>
</ul>
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