Builder-developer ALAND has drawn back the curtain on its first city-focused new apartment development.

The North Sydney development, <a href="https://www.apartments.com.au/new-apartments/the-walden-north-sydney-173-179-walker-street-north-sydney-nsw-2060">The Walden</a>, is the first time the company has ventured this close to the city, having previously completed thousands of apartments predominantly in Sydney's west, and more recently in Gosford.

<a href="https://www.apartments.com.au/developers/aland">ALAND</a> acquired the prime North Sydney site, spanning Walker and Hampden Streets just down the road from the Victoria Cross Metro station, for $240 million in June.

Now they've unveiled the new project, a mix of one-, two-, three- and four-bedroom apartments across a 30-level building designed by Rothelowman.

[smartcode_project:default project_id=134323 project_image_fid=6384]

The Walden will capitalise on the site’s front-row position on the eastern fringe of the <a href="https://www.apartments.com.au/developments/north-sydney-nsw-2060">North Sydney</a> CBD, which offers uninterrupted Sydney Harbour views stretching from the Sydney Harbour Bridge all the way to Sydney Heads.

The main tower will be flanked by a small four-level amenity building known as The Pavilion, offering exclusive resident-only amenities including a dedicated concierge service, a sauna and private wellness studio, a gymnasium and fitness studio, a resort-style rooftop pool and sundeck.

There will also be a&nbsp;residents’ lounge, private dining and a wine cellar, and co-working facilities with an on-site meeting room and boardroom.

&nbsp;

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ALAND Founder Andrew Hrsto said the company knew they could create something "iconic" with The Walden when they saw the site.

&nbsp;

“As a company, we had been searching for a site in one of Sydney’s blue-chip locations, spanning the Eastern Suburbs, the Sydney CBD and the North Shore, and when we had the opportunity to purchase this site, we immediately recognised that it could be something iconic – being the last development with a view offering this exceptional.

“We identified the attributes and quality of the site as being perfectly aligned for ALAND – and we feel that this off-market acquisition is a perfect opportunity to showcase our craftmanship and expertise through a truly unique offering."

[smartcode_project:default project_id=134323 project_image_fid=6399]

Hrsto pointed to ALAND’s longstanding development expertise as a significant benefit in delivering a positive outcome for The Walden.

“Being a fully integrated development and construction business with a highly experienced team, we have the benefit of in-house experts across the development spectrum, from acquisitions, design, planning, and construction, to sales, marketing, property management, through to building management.

“As one of Australia’s largest private development and construction groups, we’ve been in operation for 23 years, with a Gold Star iCIRT rating and a 100 per cent delivery success rate across numerous masterplanned and mixed-use projects – and we’re very much looking forward to bringing this expertise to The Walden and contributing to the ongoing revitalisation of North Sydney."

The Walden is the latest development in Sydney to have the 10-year Latent Defects Insurance policy by Resilience Insurance, protecting buyers from any structural or waterproofing-related issues for 10 years post-completion.&nbsp;

Demolition of existing structures on The Walden site has already commenced through specialist civil contractor Moits, with the aim of completing preparatory ground works by the end of 2025, ahead of construction commencement in early 2026.

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Joel Robinson

ALAND unveils The Walden, North Sydney's latest luxury apartment development

<a href="https://www.apartments.com.au/developers/toga-group">TOGA</a> has opened sales for the final building in Macquarie Rise, its latest mixed-use development in Macquarie Park.

Since launching its <a href="https://www.apartments.com.au/new-apartments/macquarie-rise-122-herring-road-macquarie-park-nsw-2113">Macquarie Rise</a> in late 2023, TOGA has secured over 125 sales in the Herring Road development, to a range of purchasers, from first home buyers to investors and downsizers. Around 65 per cent of purchasers have been owner-occupiers.

TOGA has now launched a new release of one-, two-, and three-bedroom apartments in the final building, Saunders Rise. Many of the apartments feature multi-purpose rooms and offer views of the surrounding greenery. Also part of the release is a series of&nbsp;sub penthouses housed on the upper floors.

[smartcode_project:default project_id=89243 project_image_fid=242696]

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“We’re delighted with the ongoing strong interest in our Macquarie Rise development, which is testament to the need for premium housing in this much-loved Sydney suburb,"&nbsp;Allan Vidor AM, Managing Director at TOGA, said.

"We’re proud to be able to offer buyers a unique product that includes luxury amenities, spacious living areas and flexible layouts, designed to suit all kinds of buyers, from young professionals to families and investors.

“We have long been advocates of Macquarie Park, and once Macquarie Rise is complete, TOGA will have built 1,000 apartments in the area, delivering much needed homes within a thriving precinct. It’s great to see the area become renowned for high-quality apartments, proximity to amenities and green spaces."

TOGA, one of Australia’s few Gold Star iCIRT rated developers, is also handling construction of Macquarie Rise. They are on track to complete the building in 2027.

[smartcode_project:default project_id=89243 project_image_fid=310789]

Macquarie Rise boasts a prime location, placing residents within immediate reach of Macquarie Centre, Macquarie University, and the newly completed Macquarie University Metro, connecting to the Sydney CBD is just over 20 minutes.

&nbsp;

Macquarie Rise residents also have access to Club Rise, an exclusive, residents only lounge designed by luxury hotel designers Stack Studio, offering an abundance of work and break-out areas, a Pilates studio, a gym, and a karaoke room. As well as these premium amenities Macquarie Rise will also feature an impressive podium top 20m lap pool.

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“Offering luxury, spacious apartments in a vibrant and well-connected neighbourhood, it’s no surprise that Macquarie Rise remains popular with a range of buyers," said TOGA's General Manager of Sales, Anthony Falas.&nbsp;

"With interest rates tracking downwards, we expect the final apartments to continue to receive high levels of interest.”

Located at 122 Herring Road, Macquarie Park, the development will be delivered in partnership with Baptist Union NSW and Morling College with a value of over $400 million.

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TOGA launches final stage apartments in Macquarie Rise

Southern Cross Station anchors the western end of <a href="https://www.apartments.com.au/developments/melbourne-vic-3000">Melbourne</a>’s CBD, connecting metropolitan and regional rail with tram and bus interchanges in one of the city’s busiest transport corridors.&nbsp;

Just metres away, <a href="https://www.apartments.com.au/new-apartments/640-bourke-street-melbourne-640-bourke-street-melbourne-vic-3000">640 Bourke Street</a>&nbsp;will place residents in the heart of the city, with immediate access to Spencer Street trams, a growing mix of retail, hospitality and cultural venues, and a neighbourhood evolving into a lively residential precinct.

Developed by <a href="https://www.apartments.com.au/developers/far-east-consortium">Far East Consortium</a>, the 68-level project integrates a sculptural glass tower with the heritage-listed Eliza Tinsley Building on a 2,765 sqm Bourke St site.&nbsp;

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Designed by <a href="https://www.apartments.com.au/architects/rothelowman">Rothelowman</a>, the development replaces a previously approved scheme for 813 apartments with a refined offering of just over 600 larger-format residences, responding to a growing owner-occupier demand for spacious city living.

The location sits within a dynamic pocket undergoing significant transformation. Marvel Stadium and the Docklands waterfront are less than 10 minutes away on foot, offering both sports and leisure attractions.&nbsp;

Bourke Street Mall, Queen Victoria Market, and the State Library are all within walking distance, while Flagstaff Gardens, Melbourne’s oldest park, provides a green escape just to the north.

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Proximity to some of the city’s largest employers and education hubs, including the courts precinct, legal chambers, RMIT, and major hospitals, makes 640 Bourke Street an appealing residential address for professionals, families and students alike.

Education opportunities span all levels. Nearby, Haileybury City Campus offers private schooling just a short walk from 640 Bourke Street. Just beyond the CBD fringe, Carlton Gardens Primary School, one of Melbourne’s oldest state primary schools, and Docklands Primary School provide convenient government schooling options.

Higher education is equally accessible. RMIT University’s city campus spans multiple buildings just a few blocks away, while the University of Melbourne’s Parkville campus is easily reached via tram along Swanston or Elizabeth Streets.

Victoria University’s City Queen campus, focused on law and business, is also close by, positioning 640 Bourke Street within walking distance of three of Melbourne’s major tertiary institutions.

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The neighbourhood’s retail tapestry continues to evolve into something distinctly local and walkable. Just steps away, Woolworths Metro on Bourke Street ensures that everyday essentials are easily within reach.&nbsp;

For larger shopping trips, Spencer Outlet Centre on Spencer Street and QV Melbourne on the opposite side of the CBD broaden the offering with supermarkets, fashion, dining and specialty stores.

The lane-to-lane vibe unfolds beautifully in nearby arcades and alleys. Hardware Lane, with its European-style red-brick paving and alfresco dining, pulses with jazzy evenings and casual lunches.

A few minutes north, Howey Place and Centre Place offer leafy, boutique-lined lanes where hidden cafés and niche retailers congregate under historic glass-covered cloisters.

Completing this tapestry is the newly opened Mecca “beauty playground” on Bourke Street. Spanning 4,000 sqm over three levels, the flagship blends immersive retail within an art-deco heritage setting.

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This finely grained network of shops, eateries, arcades and service outlets defines the everyday lifestyle at 640 Bourke Street - further enriched by over 3,000 sqm of resident amenity including a Turkish-inspired pool, gym, co-working rooms and private cinemas.&nbsp;

Apartments are priced between&nbsp;$640,000 and $3.95 million. Off the plan stamp duty concessions available until October 2026. Prospective buyers can visit the on site display gallery which has&nbsp;fully built one, two, and three-bedroom apartments.

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640 Bourke Street: A heritage address at the heart of Melbourne

Lower North Shore development specialists&nbsp;<a href="https://www.apartments.com.au/developers/abadeen-group">Abadeen</a>&nbsp;has topped out its new local apartment development,&nbsp;<a href="https://www.apartments.com.au/new-apartments/northcote-collective-naremburn-2-6-northcote-street-naremburn-nsw-2065">Northcote Collective</a>.&nbsp;

Located in the tightly held suburb of <a href="https://www.apartments.com.au/developments/naremburn-nsw-2065">Naremburn</a>, Northcote Collective is a collection of just 58 one-, two-, and three-bedroom apartments designed by award-winning architects Rothelowman.&nbsp;

The building is just a five to 10 minute walk from the heart of Crows Nest and the new&nbsp;St Leonards and Crows Nest Metro stations. Abadeen has also brought doorstep convenience, with a ground-floor retail offering on Northcote Street.

Northcote Collective is being delivered by&nbsp;<a href="https://www.apartments.com.au/builders/decode">Decode</a> — an iCIRT-rated construction company well regarded in the new development industry.

[smartcode_project:default project_id=114189 project_image_fid=272840]

“This is an important and exciting moment for Northcote Collective, and we’re proud to celebrate this milestone with our partners, consultants, and future residents,” said Justin Brown, Executive Chairman and Founder of Abadeen.&nbsp;

“From the outset, our vision was to create something truly special for Naremburn — homes that respect the character of the neighbourhood while elevating the standard of Lower North Shore living. With connectivity to transport, retail on the doorstep and a true village lifestyle, this milestone also comes at a perfect time when buyer confidence is returning to the market. I am incredibly proud of our team and of Decode for their dedication in helping us bring this vision to life.”

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The development is two-tiered, with two rooftops for residents. The taller building has an impressive rooftop pool, a rare inclusion in the new Sydney apartment market. The level, with panoramic views, also includes an entertaining terrace with barbecue facilities.

Local downsizers and young professionals are showing the strongest interest in the development, with recent improvements in the property market — supported by three rate cuts in 2025 — boosting borrowing power and buyer confidence.

Auction activity across Sydney surged by almost 30 per cent in recent weeks, with clearance rates above 70 per cent — signalling a renewed wave of buyer demand.

Northcote Collective will welcome buyers in 2026.

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Abadeen tops out Northcote Collective in Naremburn

Sunshine Coast-based <a href="https://www.apartments.com.au/developers/devcon-property-group">Devcon Property Group</a> has acquired one of Maroochydore’s most prominent development sites for $12 million unlocking the potentialfor a mixed-use project in the Cotton Tree precinct.

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The 4,178 sqm site at 41–43 Aerodrome Road—well known locally as the former home to one of Australia’s last Sizzler restaurants—was sold via an off-market expressions of interest campaign by Colliers agents Nick Dowling and Baydn Dodds. More than 70 targeted buyer groups were approached, resulting in multiple competitive offers for the property.

Devcon Property Group Managing Director Michael Kain said the acquisition was a strategic move in line with the company’s focus on delivering high-quality projects in prime coastal locations.&nbsp;

“We’re excited about the possibilities this site, in one of the Sunshine Coast’s most iconic beachside &nbsp;communities, offers for a broad range of development outcomes,” Kain said.

“Its location, ocean view potential, and proximity to the Maroochydore CBD and beach make it an &nbsp;outstanding development prospect. Our plans are to refurbish the existing building and then review &nbsp;development options for the remainder of the site.”&nbsp;

<img alt="Aerodrome Rd site overlooking Beach (Large)" data-entity-type="file" data-entity-uuid="a29dc4ed-68c1-4bec-a4fc-283063dcde1e" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Aerodrome%20Rd%20site%20overlooking%20Beach%20%28Large%29.jpg?VersionId=b0WxJWevmLoAfCP4YvGImZpR3rSCJJ9L" />

Colliers Special Projects Manager Baydn Dodds said the sale reflected the ongoing strength of the &nbsp;Sunshine Coast’s development site market, particularly for projects capable of achieving water views. &nbsp;

“Sites of this scale, in walkable beachside locations with ocean views, are tightly held and continue to attract significant interest from both local and national developers,” Baydn Dodds said. &nbsp;

“Holding a prominent position as the former home to one of Australia’s last Sizzler restaurants and more recently occupied by Rashays, the prime site is located just 150 metres from Maroochydore Beach.&nbsp;

“With stunning ocean view potential, located in one of the Sunshine Coast’s best known iconic &nbsp;beachside communities, within steps of shops, cafes and the beach it is no surprise that there was strong interest in the site. The transaction highlights the ongoing depth of demand for well-located &nbsp;mixed-use sites across the Sunshine Coast.”&nbsp;

Colliers Sunshine Coast Managing Director Nick Dowling said the transaction reinforced the &nbsp;Sunshine Coast’s status as one of Australia’s most active development markets.&nbsp;

“The combination of strong population growth, lifestyle appeal, and infrastructure investment is &nbsp;driving demand for quality development opportunities,” Nick Dowling said. &nbsp;

“The Sunshine Coast is one of only three markets nationally to record an increase in crane numbers, &nbsp;reflecting the strength of the region’s construction pipeline.&nbsp;

“Opportunities like this are rare and continue to generate strong buyer interest in the region.”&nbsp;

The Sunshine Coast development market is booming, with several high-profile developers like Cube Developments, Gardner Vaughan Group, and RCQ, planning developments in the region.

Devcon buys Sunshine Coast’s former Sizzler site for new apartment development

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.
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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.
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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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