Developer-builder <a href="https://www.apartments.com.au/developers/dasco-australia">DASCO</a> has pushed beyond the now-standard inclusions of rooftop pools and landscaped podiums at its recently launched new Epping project, Senso.

It has laid out over 4,000 sqm of resident-only amenity in a move designed to compete directly with low-density housing on livability, not just density. The result is a development that supports genuine daily use through purposeful spaces distributed across its five-building, 479-apartment precinct.

[smartcode_project:default project_id=134954 project_image_fid=4396]

Two rooftop pools form the anchor of Senso. One is a 27-metre lap pool adjoining a heated spa, designed for everyday fitness rather than just summer leisure. The second sits on a lower podium, allowing different buildings to share in vertical access and reducing crowding during peak times.

It is the secondary spaces that start to distinguish Senso from other large-scale suburban projects. A rooftop cinema is integrated into a landscaped terrace, offering open-air screenings with natural ventilation and passive cooling.&nbsp;

The inclusion of a “sensory walk”, an elevated boardwalk that threads through the site, suggests a rare investment in non-commercial, non-essential amenity: space for quiet movement that doesn’t double as access or traffic circulation.

[smartcode_project:default project_id=134954 project_image_fid=4402]

The gym and wellness centre, often relegated to a small ground-floor room in many builds, takes on more substance here. Residents have access to a fully equipped gym, as well as outdoor yoga areas and meditative zones that integrate greenery and natural light.&nbsp;

The Club Lounge is similarly designed to support multiple use cases, with a private dining terrace, kitchenette, workspace, and lockable wine storage. These aren’t superficial additions; their scale and spatial allocation indicate serious intent for frequent resident use.

[smartcode_project:default project_id=134954 project_image_fid=4391]

Importantly, Senso’s amenities are embedded within a site that spans more than 10,000 sqm, allowing for better separation between spaces and reduced noise spillover, a critical but often overlooked factor in high-density developments. This spatial generosity also enables multiple alfresco kitchens and communal terraces without compromising individual privacy or usable space.

While many developments make claims about lifestyle, few back it with this level of built infrastructure. Senso’s mix of dedicated fitness, wellness, social and passive green spaces suggests a conscious response to the post-pandemic shift in housing expectations, especially among owner-occupiers.&nbsp;

DASCO is one of several leading developers who have taken out Resilience Insurance's Latent Defects Insurance policy, providing buyers with a 10-year structural and waterproofing warranty, and giving them the ultimate peace of mind.

Senso is scheduled for completion in late 2028.

[smartcode_project_cta:default project_id=134954]

Staff Writer

The outdoor amenities elevating life at Senso, Epping

Following the proposal by the Minns Labor Government to rezone Parramatta Road to create up to 8,000 new homes, prominent developer Ceerose has gone to the NSW Gov to increase the density of its new mixed-use residential building in Leichhardt.

<a href="https://www.apartments.com.au/builders/ceerose">Ceerose</a>, founded by Edward Doueihi nearly three decades ago, has filed plans for 154 apartments above ground-floor retail at 307-315 Parramatta Road, a key corner site near Norton Street, the main high street strip in Leichhardt.

It's an upsize from the previously approved scheme of 63 apartments across a seven-storey building.

<img alt="Ceerose" data-entity-type="file" data-entity-uuid="ba1ae75b-5f08-43fb-b8d5-3de6d9f6ef71" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202025-12-04%20at%2010.31.39%E2%80%AFAM.png?VersionId=yA3hBBLPH4ev7MsAE0_hieXeqiFqBUb7" />

The project is being advanced through the State Significant Development (SSD) pathway, with concurrent rezoning sought to facilitate the proposal. The 10-storey development would rise over a four-level basement and deliver two retail tenancies, one a larger-format offering and the other a smaller “hole in the wall” space, addressing the Parramatta Road frontage. 21 of the apartments are dedicated as affordable housing.

According to the Urban Design Report by Architecture AND, the scheme includes a podium and tower configuration, with a fine-grain, two-storey parapet street wall that references the traditional shopfront rhythm along the corridor. “An elegant tower form is proposed, combined with a characterful two storey frontage... articulating it as two related buildings, providing consistency with the rhythm and grain of Parramatta Road,” the report notes.

The residential component is split across two slender towers set back from the street edge, a design move aimed at preserving solar access and reducing perceived bulk. This massing strategy also seeks to improve residential amenity by focusing scale toward the quieter northern interface, away from Parramatta Road’s noise and pollution.

<img alt="Ceerose" data-entity-type="file" data-entity-uuid="347f2f8f-5d36-4388-b40a-2e77380b9c19" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202025-12-04%20at%2010.31.02%E2%80%AFAM.png?VersionId=xvyUE2ujT1lzivXTo.mHBJFF4SmfgLtz" />

Architecture AND has worked with Ceerose on previous Inner West projects, and cites a deep familiarity with the local character. Their design draws heavily on context, heritage, and sunlight access considerations, and engages with the Inner West Council’s “Our Fairer Future” strategic planning framework.

The site spans 2,712 sqm and is located near key intersections with Catherine Street, Hay Street, and Redmond Street. It adjoins a public carpark to the north and is within walking distance of Stanmore and Petersham stations. It is also flagged in state and local planning strategies, including the Parramatta Road Corridor Urban Transformation Strategy, as a suitable candidate for increased density.

Ceerose recently completed The Alex Collective on McEvoy Street in Alexandria, Abbie's Lane in Annandale, and the award-winning Munro House in Elizabeth Bay.

The Parramatta Road corridor is coming to life with the proposed rezoning which is serviced by a significant number of bus, light rail and train routes.

Deicorp is progressing with its $1.8 billion <a href="https://www.apartments.com.au/new-apartments/kings-bay-village-five-dock-53-75-queens-road-five-dock-nsw-2046">Kings Bay Village</a> precinct on Parramatta Road in Five Dock, as is <a href="https://www.apartments.com.au/news/nsw/toga-to-push-on-with-five-dock-mixed-use-masterplan">TOGA further down the street</a>. Those two projects alone will bring nearly 2,000 new homes to Parramatta Road.

Joel Robinson

First look: Ceerose plots mixed-use Leichhardt development on Parramatta Road

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.

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.

First look: Buildex plans 57 apartments near Castle Towers

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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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.
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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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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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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. 
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<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.
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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%).
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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.” 
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<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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