There’s a quiet patch of <a href="https://www.apartments.com.au/developments/hawthorn-vic-3122">Hawthorn</a>, between the bustle of Glenferrie Road and the curve of the Yarra, that rarely sees change, and even more rarely, new apartments. But that’s exactly where <a href="https://www.apartments.com.au/developers/pomeroy-pacific-quattro-corp">PQD</a> is planting Kooyongkoot: a deliberate, 18-residence answer to the question of what downsizers actually want.

“This is something this pocket of Hawthorn has never seen before,” says Fil Gacesa, head of sales at PQD. “<a href="https://www.apartments.com.au/new-apartments/kooyongkoot-hawthorn-1-kooyongkoot-road-hawthorn-vic-3122">Kooyongkoot</a> will deliver just 18 large-scale apartments in the heart of Hawthorn. It is the true definition of resort-style living.”

<iframe allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" allowfullscreen="" frameborder="0" height="315" referrerpolicy="strict-origin-when-cross-origin" src="https://www.youtube.com/embed/59D7VxzltmM?si=1iCzRD7FRneKryfv" title="YouTube video player" width="560"></iframe>

That scale is central to the story. It’s what allows for two dedicated lift cores, short corridors, and a generous lightcourt that draws natural ventilation and sunlight into every residence. It’s also what makes room for the sort of amenity usually confined to high-density towers: a fully equipped wellness centre with infrared and traditional saunas, yoga and pilates studio, cold therapy shower, and treatment room. There’s a golf simulator, car and dog wash stations, and extensive storage too, not bolted on, but baked in from the start.

But more than the checklist, it’s the design intent that carries weight. “This project has been many years in the making,” says Mark Pomeroy, Director of PQD. “Not just in planning, but in listening, to what our buyers and the local community are looking for”.

[smartcode_project:default project_id=102717 project_image_fid=355289]

That listening shows up in the materials, oak floors, natural stone, V-ZUG appliances, and in how space is handled. Penthouses feature private rooftop terraces with pools. Terraces and garden residences embrace outdoor connection. Inside, the layouts skew large and open, geared for hosting, not just housing.

Architecturally, <a href="https://www.apartments.com.au/architects/cera-stribley-architects">Cera Stribley</a>’s approach is grounded. There’s no reaching for spectacle here. Instead, the building offers a sculptural calm, anchored by landscaping from Eckersley Garden Architecture.&nbsp;

“We wanted to create spaces that feel expansive, serene, and meaningfully connected to daily life,” said founding partner Chris Stribley elsewhere.

[smartcode_project:default project_id=102717 project_image_fid=355304]

That sentiment, calm, connection, echoes in the location itself. Kooyongkoot sits just a short stroll from Central Gardens, Fairview Park, and the Rivoli Cinema. Tram lines and schools are close, but the street is tucked, quiet, and leaf-lined.&nbsp;

“Residents of Kooyongkoot will be a short stroll from Fairview Park, Central Gardens, and the Glenferrie Road retail strip," Gacesa notes, "but you're also cocooned in this peaceful pocket behind extensive landscaping by Eckersley Garden Architecture.”

Kooyongkoot is set for completion in late 2026.

[smartcode_project_cta:default project_id=102717]

Staff Writer

The project that said no to compromise: Inside Kooyongkoot, Hawthorn

When long-time Ivanhoe locals Graeme and Catherine, decided it was time to downsize, they weren’t necessarily in a rush.&nbsp;

Like many in their stage of life, they had started thinking about apartment living, but anticipated making the shift in two to three years.

That timeline changed when they visited <a href="https://www.urban.com.au/new-apartments/candela-ivanhoe-40-upper-heidelberg-road-ivanhoe">Candela</a>, a new boutique development by <a href="https://www.urban.com.au/developers/salter-brothers">Salter Brothers</a>. The project ticked all the boxes they were looking for: location, quality design, and long-term lifestyle benefits, which prompted them to bring their decision forward.

“It was the right place at the right time,” they said. “We knew immediately it ticked all the boxes, and we didn’t want to wait.”

[smartcode_project:default project_id=342 project_image_fid=358855]

Their decision to downsize was driven by a combination of practical needs and lifestyle considerations. Their existing home, while much loved, had become increasingly difficult to maintain. It spanned multiple levels, included extensive front and back gardens, and was starting to show the wear that comes with age.&nbsp;

They were looking for a more manageable lifestyle, one with less upkeep and more freedom. A brand-new apartment with no maintenance requirements and the ability to simply “lock up and leave” gave them peace of mind and a greater sense of control over their future.

Financially, the purchase made sense as well. The available stamp duty savings, strong price-to-value offering, and timing of the settlement suited their plans, making the transition smoother and more cost-effective. The apartment's design and inclusions further supported their choice.

[smartcode_project:default project_id=342 project_image_fid=357493]

The layout was both functional and flexible: three bedrooms, a butler’s pantry, a separate laundry, and a large open-plan living area. It gave them the freedom to host a family, accommodate guests, or set up a home office. The expansive balcony and elevated views added to the appeal, providing a sense of openness and connection to the outdoors.

“It just had a really good flow,” Catherine noted, something they found lacking in many other apartments they’d considered, particularly in the established market.

Candela’s boutique scale was another deciding factor. With a smaller number of residences and a top-floor penthouse position, the couple felt the development offered the privacy and space they were looking for, without feeling isolated.

“We liked that it wasn’t a huge development. It felt well-balanced, modern but still with a sense of community, not overwhelming,” they said.

[smartcode_project:default project_id=342 project_image_fid=357508]

Equally important was the ability to remain in Ivanhoe, a suburb they know well and have deep roots in. After 46 years in the area, proximity to local parks, shops, and familiar faces mattered just as much as the apartment itself.

“We didn’t want to give up the community we’ve known for decades. Candela allowed us to upgrade our lifestyle while staying in the place we call home.”

With a Walk Score of 90, the village location supports a convenient, connected lifestyle. <a href="https://www.apartments.com.au/developments/ivanhoe-vic-3079">Ivanhoe</a> Station is just a eight-minute walk away, and the neighbourhood offers access to parks, cafes, restaurants, and schools along Upper Heidelberg Road, all within easy reach.

Beyond the apartment, the couple also saw value in the broader vision for Candela, one that integrates residential living with public spaces and local amenities.&nbsp;

The development introduces 58 new apartments as well as a mix of commercial and social spaces that integrate contemporary architecture with the suburb’s existing character.&nbsp;

At ground level, residents will find a charming café and a lifestyle wellness centre, perfect for unwinding and rejuvenating. Meanwhile, the rooftop garden offers a stunning vantage point for residents to enjoy breathtaking sunsets, host gatherings, or enjoy barbecues with family and friends. It's not just a place to live; it's a vibrant community where every moment is an opportunity to connect and create lasting memories.

[smartcode_project_cta:default project_id=342]

Why Ivanhoe locals are choosing to downsize to Candela

Mark and Roy Makari are expanding their presence in Sydney’s South West with a second major proposal for Leppington, this time envisioning a 900-dwelling mixed-use development just 850 metres from their previously lodged tower trio on Fifth Avenue.

Project management and construction management firm Creative Vision filed the plans for the&nbsp;multi-building project at <a href="https://www.apartments.com.au/new-apartments/230-rickard-road-leppington-nsw-2179">230 Rickard Road, Leppington</a>. The proposal seeks to establish a new focal point for the precinct through a high-density, transit-oriented development supported by diverse land uses.

According to the Scoping Report prepared for the Department of Planning, the scheme includes around 900 apartments across multiple towers, including 135 dwellings designated for affordable housing. A mix of market and subsidised apartments will be supported by ground-level activation through retail and office space, a childcare centre, and a hotel, forming a comprehensive urban precinct.

<img alt="Mixed Use Development 230 Rickard Rd Leppington" data-entity-type="file" data-entity-uuid="34797362-f3dc-4d84-8235-2657fc5f3bde" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Plan.png?VersionId=Uzckrz9tUpDQl5lX1_WMhjnv16bsr8wG" />

The Design Report by <a href="https://www.apartments.com.au/architects/studiosc-0">Studio SC</a> notes that the project “intends to deliver a high-quality, high-density built form that supports the vision for the Leppington Town Centre, integrating mixed-use outcomes and public domain upgrades.” The development is expected to be delivered in stages, although a precise timeline is yet to be confirmed.

The project will be assessed through a future State Significant Development Application, with the Scoping Report indicating the team will seek design excellence via a competitive process or through an expert design review panel. Early massing diagrams suggest a series of mid- to high-rise buildings framing a central landscaped spine, with emphasis on pedestrian permeability and public space.

The planning documentation flags a strong sustainability agenda, stating that the development will “respond to the urban heat island effect, incorporate water sensitive urban design, and prioritise active transport”.

<img alt="Mixed Use Development 230 Rickard Rd Leppington" data-entity-type="file" data-entity-uuid="369d7b54-1279-4cde-88ec-dcb215594414" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Podium_1.png?VersionId=QArL7B2kkLt63vl5xvL0FNV_ardAlez4" />

The proposal follows in the footsteps of the Makaris’ nearby Fifth Avenue site, where they’ve submitted plans for three towers comprising nearly 500 apartments, with 10 per cent dedicated to affordable housing. That project features commercial podiums, a childcare centre, and a new public park that would occupy more than a third of the site.

Both developments are situated within walking distance of Leppington Train Station and fall under strategic precinct plans promoting higher density housing. The town centre is undergoing substantial transformation, driven by state government planning reforms aimed at fast-tracking housing delivery.

Together, the two projects represent a combined ambition of nearly 1,400 new homes across just under two kilometres of central Leppington.

First look: 900-home mixed-use precinct planned for Leppington

Leading Australian integrated property development group, <a href="https://www.apartments.com.au/developers/aqualand-australia">Aqualand</a>, has released the signature penthouses crowning its landmark AURA by Aqualand precinct at 168 Walker Street in North Sydney, unveiling Il Magnate and La Divina as the largest and most luxurious penthouses in the suburb.

With prices anticipated to commence from $15 million, and each accompanied by a new Porsche Carrera 911 valued at over $500K, the residences mark the culmination of <a href="https://www.apartments.com.au/buildings/aura-by-aqualand-north-sydney-168-walker-street-north-sydney-nsw-2060">AURA by Aqualand</a>’s decade-long journey and the beginning of its final sales chapter. 
&nbsp; 
Their release follows more than $850 million in record-breaking residential sales and the building’s completion and occupation.

[smartcode_project:default project_id=30959 project_image_fid=358868]

The Richards Stanisich-designed 284 sqm Il Magnate and 224 sqm La Divina penthouses, collectively known as The Icons of AURA, are conceived as grand luxury homes rather than apartments, with expansive proportions, elevated materiality and curated identities that reflect their status as one-off residences.&nbsp;

Il Magnate features a grande master suite, complete with substantial walk-in dressing area and ensuite, three other bedrooms, second ensuite and another bathroom, powder room, open plan kitchen, scullery, substantial dining area and generous living room divided by a feature fireplace, and a multifunction wintergarden, which is ideal for a study and adjoining office breakout space. &nbsp;

Meanwhile, the La Divina residence offers the same amenities, sans the powder room, on a slightly smaller alternate floor plan configuration.

[smartcode_project:default project_id=30959 project_image_fid=358863]

Each occupies half of AURA by Aqualand’s topmost 28th level, comes with four secure car spaces and pairs sweeping Sydney Harbour panoramas with large-scale living spaces, refined detailing and a level of craftsmanship and amenity rarely offered in the North Shore market.&nbsp;

Penthouse residents will also receive Etymon’s ‘Black Key’ private concierge and lifestyle management service, an invitation only offering providing the ultimate in bespoke personalisation, including a range of everyday discrete services, from dinner party management, grocery deliveries, pet feeding or plants watered, dinners, snacks and coffee deliveries, event ticket sourcing, right up to organising travel visas and international airfares. Rarely seen in Australian properties, the service provides residents the benefits of living in a world-class luxury hotel-style home, akin to The Ritz, or the Waldorf Astoria.

[smartcode_project:default project_id=30959 project_image_fid=358862]

<a href="https://www.apartments.com.au/interior-designers/richards-stanisich">Richards Stanisich</a>’s Director, Kirsten Stanisich, said the studio set out to craft residences that feel profoundly considered, contemporary and deeply connected to their setting.

“From the outset, we approached these penthouses with the sensibility of a grand Parisian residence - generous in scale, elegant in proportion and designed to feel more like a handcrafted home than an apartment," Stanisich said.

“Their elevated position and sweeping harbour outlook informed every decision, creating a rare connection between urban sophistication and natural calm. We shaped each space with expressive materiality, sculptural forms and bespoke detailing that invite touch and interaction.&nbsp;

“The result is a pair of residences defined by volume, light and an inherent softness - refined, flexible and deeply personal. These penthouses are unlike anything else in North Sydney, offering a sanctuary of true luxury framed by some of the city’s most remarkable views.”

For Aqualand’s Head of Sales &amp; Marketing, Alex Adams, the collaboration with Porsche underscores the shared ethos behind the residences.

“Aqualand’s collaboration with Porsche underpins both brand’s sharing an obsession with craftsmanship, design excellence, and enduring value," Adams said.

“Our penthouses are created for those who appreciate the finer details and expect the extraordinary at every touchpoint. Including a Porsche simply extends that experience beyond the residence - it’s a continuation of the lifestyle our buyers already live.”&nbsp;

[smartcode_project:default project_id=30959 project_image_fid=292862]

Aqualand’s Managing Director, Jin Lin, said the penthouses represent both the pinnacle of AURA by Aqualand and an important design benchmark for the company’s future pipeline.&nbsp;

“These stunning penthouses reflect the purest expression of Aqualand’s design ambition," Lin said.

“The unparalleled design intent makes them not only the glistening crown of AURA by Aqualand, but the crown of North Sydney itself. They’re essentially a thank you gift to a burgeoning community that deserves this level of quality and architectural consideration.&nbsp;

“We’re leveraging the unrivalled standard set here as the foundation for what comes next, including our upcoming Anderson Street, Chatswood; 15 Blue Street, North Sydney and Central Barangaroo projects. Purchasers of these penthouses will essentially be living inside the blueprint of Aqualand’s future.

“These landmark residences demonstrate how far North Sydney has evolved and the strength of demand for highly curated, bespoke luxury homes. They’re more than penthouses, they’re legacy residences.&nbsp;

“With AURA by Aqualand now a thriving new precinct with residents well and truly settled, and our in-house world-class lifestyle amenity activated, Il Magnate and La Divina represent a once-in-a-lifetime opportunity to secure an extraordinary piece of North Sydney’s future.”

[smartcode_project_cta:default project_id=30959]

Joel Robinson

Aqualand launches North Sydney penthouses with free Porsche Carrera 911

<a href="https://www.apartments.com.au/developments/bokarina-qld-4575">Bokarina</a> Beach has quietly evolved into one of the Sunshine Coast’s most complete coastal lifestyle precincts, defined not just by proximity to the ocean, but by how residential living, local retail and everyday amenity are stitched together.&nbsp;

Gardner Vaughan Group’s <a href="https://www.apartments.com.au/new-apartments/bask-bokarina-38-bokarina-boulevard-bokarina-qld-4575">Bask Bokarina</a> now represents the final residential chapter in that transformation.

[smartcode_project:default project_id=141609 project_image_fid=333360]

Over recent years, the Bokarina Beach precinct has taken shape as a walkable, community-oriented neighbourhood, anchored by beachfront access, Lake Kawana to the west, and a growing mix of cafés, specialty retail and public open space.&nbsp;

With Zinc Bokarina already delivered next door by <a href="https://www.apartments.com.au/developers/gardner-vaughan-group">Gardner Vaughan Group</a> (GVG), Bask is the last opportunity to buy a brand new apartment within the precinct, effectively rounding out a fully formed coastal village.

GVG has positioned Bask to strengthen that lifestyle framework. Ten ground-floor retail spaces are planned beneath the residences, extending Bokarina Boulevard’s existing activity and reinforcing the area’s everyday convenience, from casual dining and coffee to local services, within a short walk of the beach.

[smartcode_project:default project_id=141609 project_image_fid=333359]

The residential component comprises 135 apartments across two buildings, Mydas and Caretta, with a clear shift toward larger three- and four-bedroom layouts and penthouses. That mix reflects a maturing buyer profile in Bokarina, where demand is increasingly led by owner-occupiers and active downsizers seeking space, permanence, and connection to place rather than short-term coastal accommodation.

Design and amenity have followed the same logic. Residents will have access to a heated plunge pool, gym, private dining room with a full kitchen, landscaped communal gardens with barbecues and a firepit, and a shared herb and vegetable garden, facilities intended to support daily use rather than resort-style turnover. Pet-friendly features, including a dog wash bay, acknowledge both buyer expectations and the area’s dog-friendly beach, located around 250 metres from the site.

[smartcode_project:default project_id=141609 project_image_fid=333366]

“Bokarina has become one of the Sunshine Coast’s most desirable beachside communities, and Bask represents the very last chance to buy new in this location,” GVG Director Sam Gardner said.&nbsp;

“Our focus has been to create spacious, functional apartments that meet the needs of locals who want to downsize without compromise, as well as those seeking a full-time coastal retreat.”

Positioned between the Pacific Ocean and Lake Kawana, Bask apartments have been oriented to capture outlooks toward the water or the Glass House Mountains, reinforcing the project’s connection to its natural surroundings. With parks, beachfront paths, hospitals, retail and public transport already in place, Bask arrives at a point where the broader precinct is no longer emerging, but established.

Construction is expected to complete in Q3 this year, with apartments ready to move into this Spring.

[smartcode_project_cta:default project_id=141609]

Bask to complete Bokarina’s Sunshine Coast lifestyle precinct as final apartments are released

Cushman & Wakefield

<html><body>
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.”
</body></html>

j.ballantyne1990-6AQqhLzZaK

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

<html><body>
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. 
</body></html>

Cushman & Wakefield acquires South Australian trade services business Smith Brothers

<html><body>
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.
</body></html>

Pitt Street remains world's 7th most expensive retail precinct

<html><body>
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.
</body></html>

Cushman & Wakefield have acquired Knight Frank’s Sydney valuation firm

<html><body>
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.
</body></html>

Queensland childcare centres sell for combined $24 million

<html><body>
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.
</body></html>

Ashfield retail sells for combined $14.53 million

<html><body><div class="page" title="Page 1">
<div class="layoutArea">
<div class="column">
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.
 
</div>
</div>
</div></body></html>

jrobinson-rf4aSBido9

Cushman & Wakefield sells Rowville development site for $2.6m

<html><body>
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. 
</body></html>

jonathanchancellor-7SQnKwU6yx

NZ real estate agency Bayleys and Cushman & Wakefield extend partnership 

<html><body>
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="">
</body></html>

Commercial investment could exceed $30 billion in 2017: Cushman & Wakefield

<html><body>
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>
</body></html>

Cushman & Wakefield

Editor's Picks

Have something to contribute?

The latest real estate & off the plan properties & news, delivered to your inbox.

Developments

New apartments

New townhouses

News

The latest real estate & off the plan properties & news, delivered to your inbox.

Cushman & Wakefield

Editor's Picks

Receive the latest news stories to your inbox

Have something to contribute?

The latest real estate & off the plan properties & news, delivered to your inbox.

Developments

New apartments

New townhouses

News

The latest real estate & off the plan properties & news, delivered to your inbox.