<a href="https://www.apartments.com.au/developers/sunland-group">Sunland Group</a> has officially lodged plans for its first Gold Coast apartment project since the departure of the Abedian family from the company three years ago, unveiling a new high-rise proposal for a prominent Broadbeach corner site on Old Burleigh Road.

The application was submitted by an entity directed by Tom Jamieson, stepson of longtime Sunland leader Soheil Abedian, and Riaz Rezvanipour, brother-in-law of Sahba Abedian, Soheil’s son.

Sunland acquired the 1,283 sqm site on the corner of Old Burleigh Road and Armrick Avenue for $9.5 million late last year and is now seeking approval for a <a href="https://www.apartments.com.au/new-apartments/99-101-old-burleigh-road-broadbeach-qld-4218">42-storey tower with 81 apartments</a>.

<img alt="First look: Sunland Group returns to Broadbeach with new Old Burleigh Road tower plans" data-entity-type="file" data-entity-uuid="fea2946d-90ee-4cfc-babe-2a8ad5db2cb6" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/pers.png?VersionId=BV0fihJw31nDIQ8ozY_h3GbS8mxDyhnm" />

Designed by <a href="https://www.apartments.com.au/architects/contreras-earl-architecture">Contreras Earl Architecture</a>, the proposed tower at 99-101 Old Burleigh Road would deliver a predominantly larger-format apartment mix aimed at the owner-occupier market. Plans include 17 two-bedroom apartments, 55 three-bedroom apartments, and nine four-bedroom residences across 35 residential levels.

The development also incorporates three basement levels, four podium parking levels, two levels of communal recreation facilities, and rooftop plant and equipment. A total of 189 car spaces are proposed, significantly exceeding the 90 spaces required under the planning scheme.

The architecture adopts a sculpted, curvilinear form, with deep wraparound balconies and integrated landscaping intended to soften the tower’s vertical expression. The planning report states the building’s “slender footprint/form provides a complimentary yet varied built form within the local streetscape” and contributes to “a varied, yet ordered skyline.”

Contreras Earl noted in its Architectural Statement that from the early stages, the project addressed a fundamental challenge: how to accommodate the required residential yield while avoiding the conventional model of a tower sitting on a rigid, fully resolved parking podium.

“The most direct response would have been to consolidate parking into a singular, flat podium and extrude a repetitive tower above,” the statement said. “While efficient, this approach would result in a consolidated built form with limited engagement with the surrounding landscape and public realm.”

Instead, the conventional podium model was “deliberately rejected”. The architects described the base of the building as “a landscaped architectural condition where structure, planting and circulation are integrated”.

“Rather than presenting a continuous built mass, the base of the building is articulated through a series of concrete planter elements that organise the podium into a fragmented system,” the statement said. “This approach reduces the perceived bulk of the lower levels while establishing a more permeable interface with the streetscape and adjacent open space.”

<img alt="Sunland" data-entity-type="file" data-entity-uuid="923fad8d-c960-4527-8fbe-975cf1ddf88d" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-05-25%20at%2010.32.03%E2%80%AFAM.png?VersionId=pngwb0hYOIUpq9vDw6F2EsOiVuHF3DiX" />

&nbsp;

The site sits within the High Density Residential Zone and inside the City of Gold Coast’s unrestricted “HX” building height area, where the planning framework anticipates intensified residential development tied to the expanding light rail corridor. The planning report notes the area is undergoing “transition toward more intense development forms” given its proximity to Broadbeach, Surfers Paradise, and high-frequency public transport infrastructure.

Positioned directly opposite Broadbeach Park and within walking distance of Florida Gardens light rail station, the development would sit among a rapidly evolving stretch of Old Burleigh Road that has become one of the Gold Coast’s most active apartment development corridors.

The application joins a growing pipeline of luxury residential projects reshaping Broadbeach, including nearby developments by 5Point Projects, Polycell, and Graya.

The planning report argues the project contributes toward the Gold Coast’s long-term housing targets under the South East Queensland Regional Plan, which forecasts the need for more than 100,000 additional high-rise dwellings across the city by 2046.

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The Abedian family departed Sunland Group in late 2023, ending a four-decade association with the company, and subsequently established the private development firm Abedian &amp; Co. The group is currently delivering <a href="https://www.apartments.com.au/new-apartments/greenmount-residences-cnr-hill-street-and-marine-parade-coolangatta-qld-4225">Greenmount Residences</a> at Rainbow Bay and recently launched <a href="https://www.apartments.com.au/new-apartments/18-mary-avenue-14-18-mary-avenue-broadbeach-qld-4218">18 Mary Avenue</a> in Broadbeach.
</section>

Joel Robinson

First look: Sunland Group returns to Broadbeach new apartment market with new Old Burleigh Road tower plans

The Minns Labor Government has established the new Bays West Delivery Authority to lead the development&nbsp;of the Bays West Precinct and Blackwattle Bay Precinct.&nbsp;

The Authority is charged with creating Sydney’s newest precinct, a thriving, connected, sustainable hub with White Bay Power Station as its cultural heart. Its vision is to build on the area’s natural, cultural and industrial history to shape a vibrant new neighbourhood.

The precinct will deliver up to 8,500 well-located homes, including a minimum of 10 per cent affordable and essential worker homes. Combine new housing with public open space, opening public access to the waterfront for the first time in more than 100 years, while retaining important deep-water facilities to support Sydney’s working harbour.

Located just minutes from the Sydney CBD and connected to a world-class metro, ferry, walking and cycling links, the Bays West precinct will rebalance housing growth towards well-serviced inner-city locations and help tackle the state’s housing crisis.

The Bays West Delivery Authority,&nbsp;an agency of the Department of Planning, Housing and Infrastructure, will report to the NSW Minister for Lands and Property who already has oversight of major precinct renewal projects including at Blackwattle Bay and Barangaroo.

As part of the broader Bays West transformation, the Minns Government recently announced that a proposal from Lendlease to redevelop part of the Bays West Precinct has progressed to Stage 2 of the NSW Government’s unsolicited proposals process.

<img alt="Sydney" data-entity-type="file" data-entity-uuid="2ed71eb9-d8e8-4fa7-b9d1-de4531dcf2f3" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-05-25%20at%209.42.31%E2%80%AFAM.png?VersionId=IDryFIbped9SNDg72LEN_EecvhUsOPvp" />

The Minns Labor Government has also confirmed the Bays West precinct will have a new suburb name. This will be the first major suburb built in close proximity to Sydney’s CBD in decades and will encompass the area currently being referred to as Bays West, including Glebe Island and the White Bay Power Station. Served by a new Metro station just five minutes from the CBD, it will become one of the most populous suburbs in the Inner West and one of Sydney’s premier cultural destinations.

An early works program is taking shape, which&nbsp;includes the first stages of an international design competition.&nbsp;

The aim of the Bays West&nbsp;International&nbsp;Design Competition is to&nbsp;ensure design excellence is embedded in the project from the start. The competition will deliver an&nbsp;urban framework that defines the character, ambition and long-term identity of&nbsp;this&nbsp;former industrial precinct as it transitions to a vibrant, inclusive and sustainable residential&nbsp;neighbourhood.

The competition will be led by the Bays West Delivery Authority in partnership with Government Architect NSW.&nbsp;

It will launch with an invitation for a global Expressions of Interest, before moving to an invitation-only stage that will be assessed by a panel that&nbsp;will provide advice to Cabinet who will select a winner.

Premier of NSW, Chris Minns said the establishment of the new Authority is the first step in transforming the Bays West precinct into a vibrant, livable suburb minutes from the Sydney CBD and two stops from Hunter St Station on the Metro West line.

“The Authority will deliver well-located homes close to the heart of the city and integrate the new precinct with Blackwattle Bay and the new Sydney Fish Market.

“This is a generational opportunity to build a new suburb on the city’s edge and open the harbour foreshore to the public for the first time in a century.”&nbsp;

Minister for Lands and Property Steve Kamper said the new Bays West Delivery Authority established by the Minns Government will turbocharge the development of Sydney’s newest suburb.

“The Authority is working at a record pace to deliver an international design competition, planning pathways and a financial model so that this development benefits Sydney with well-designed homes in a central location, close to public transport, jobs, entertainment and essential services.

“If we want Sydney to stay liveable and affordable, we need to be bold about using underutilised government-owned land to deliver homes for the future while making sure essential working harbour functions can be accommodated.”

Bays West Delivery Authority established to "turbocharge" Sydney’s newest suburb

Around 400 additional homes could be built at Southwark Grounds on Port Road, lifting total site capacity from 1300 to around 1700 dwellings.

A recently approved code amendment would allow apartment towers of up to 14 storeys in some areas of Renewal SA’s redevelopment of the former West End Brewery.

Renewal SA Acting Chief Executive Shane Wingard said he welcomed the code amendment, with the increase in heights and homes making a positive impact on the supply of high-quality, well-connected housing close to the city.

“By going higher across some parts of Southwark Grounds, we are adding a substantial number of very well-located homes with little impact on project delivery time or planned open space,” Mr Wingard said.

Since the project officially launched in 2025, Mr Wingard said more than 12,000 enquiries had been received about living at Southwark Grounds.

“The very strong early interest we’ve seen since homes were first released in the precinct reinforces our plans to create more housing opportunities,” he said.

The Southwark Grounds code amendment was launched in December last year, with community engagement undertaken over five weeks from January.

It proposed increasing maximum building heights from eight to 14 storeys on the eastern section of Southwark Grounds, and to 12 storeys across the remainder of the site, with minimum building heights ranging from two to four storeys.

The code amendment was implemented through an Early Commencement policy in late January, allowing developers to quickly explore the viability of increased height and housing yield while other planning processes continue.

One of the first developers delivering apartment sites have already finalised redesigns to increase the number of apartments following the code amendment.

Samaras’ development adjacent to the future Colonel Light Park is now planning to deliver 125 apartments across 11 storeys, significantly greater than original plans of around 50 apartments across four storeys.

The developer is also exploring the potential for additional affordable housing outcomes.

Most of the apartments at Southwark Grounds will be delivered within a master-planned precinct on a large parcel of land on the eastern portion of the site, covering around two-thirds of its 8.4 hectares.

Wingard said detailed precinct planning over the coming months may identify further opportunities to increase yield further that could see total apartment numbers at Southwark Grounds, exceed this number.

Affordable homes at Southwark Grounds will also see a net increase, with Renewal SA maintaining its commitment to a minimum of 20 per cent affordable housing across the development.

&nbsp;

&nbsp;

Civil works have begun across the site, with construction under way on the first new roads surrounding a townhouse precinct in the south‑west corner of Southwark Grounds. This includes Renewal SA’s 17 Founder’s Row homes, which are on track for completion by Christmas.

“We expect to have people living at Southwark Grounds by the end of the year, so delivering roads and public spaces for those residents is among our highest priorities.”

Construction of 40 townhouses off Anderson Street, known as West Village and being delivered by Contour, is forecast to begin in mid‑2026. Kolabb’s Anderson Lane development will follow shortly after, delivering a further 26 townhouses.

Southwark Grounds is a state government‑led urban renewal project now set to deliver around 1,700 homes over the next decade.

Homes will be supported by a supermarket, a range of retail and hospitality offerings anchored by a revitalised Walkerville Brew Tower, a childcare centre, car parking and well‑connected public spaces.

400 new homes planned for Adelaide's former West End Brewery site

Brisbane developer&nbsp;<a href="https://www.apartments.com.au/developers/cavcorp">Cavcorp</a> has lodged plans for a new mixed-use residential development at <a href="https://www.apartments.com.au/new-apartments/55-wyandra-street-teneriffe-qld-4005">55 Wyandra Street</a>, Teneriffe, anchored by an 85-metre public laneway designed to reconnect the suburb’s riverfront with the Gasworks precinct.

The buildings, known as Teneriffe House and Teneriffe Lane, would replace the existing Queensland Cotton head office site with a 15-storey residential tower transitioning to eight storeys toward Helen Street. The project has been designed by Plazibat Architects and lodged as a code assessable development application for 93 apartments across a 3,401 sqm mixed-use site within the Newstead and Teneriffe Waterfront neighbourhood plan.

Central to the scheme is the transformation of an existing service easement into a publicly accessible cross-block connection linking Wyandra and Helen Streets. Cavcorp says the new laneway will act as both a pedestrian shortcut and a landscaped civic space between the Teneriffe Riverwalk, ferry terminal, and Gasworks precinct.

<img alt="First Look: Cavcorp unveils Teneriffe House and Teneriffe Lane plans for landmark wellness tower in Teneriffe" data-entity-type="file" data-entity-uuid="26e7f058-b065-4de8-b13d-a2b8cb64dfcc" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/bldg.png?VersionId=sELS0ZKYi361oYipUa1BIKfe_.DLZoFV" />

“The revised proposal delivers a legacy public-realm cross-block link, permanently secured for community use, transforming an existing private easement into a safe, high-quality pedestrian connection between the Teneriffe heritage riverwalk and the Gasworks–Long Island precinct,” the planning report states.

The laneway will sit beneath a large subtropical loggia integrated into the podium levels of the development. The design incorporates deep landscaping, water gardens, lobby spaces, business lounges, and ground-floor apartments to create what Cavcorp describes as a climate-responsive “urban verandah.”

The tower itself has been designed as a slender form with recessed floorplates and curved translucent corners inspired by contemporary Japanese architecture. The building height aligns with the Commercial Road precinct controls, which permit towers up to 15 storeys within proximity to Longland Street.

<img alt="First Look: Cavcorp unveils Teneriffe House and Teneriffe Lane plans for landmark wellness tower in Teneriffe" data-entity-type="file" data-entity-uuid="a8a17d40-43b6-4718-b3fd-67676fcbb485" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/pers%202_1.png?VersionId=i3VwDtp5AmL_8InW7w4qRbDFEpb744Jt" />

The project will comprise a mix of larger-format apartments aimed at owner-occupiers, downsizers, and families. The proposed apartment mix includes 11 loggia apartments across the lower levels, 50 four-bedroom Sky-Terrace apartments from levels three to seven, and 32 Sky-Pool Homes occupying the upper tower levels. The Sky-Pool Homes will feature private thermal plunge pools integrated into oversized balconies.

According to the application, the apartments are intended to reinterpret the scale and character of Teneriffe’s woolstore conversions and Queensland homes within a vertical residential format.

“The sky-pool homes build on Cavcorp’s previous projects and introduce a distinct apartment typology to Teneriffe, informed by both local and international precedent and responding to an identified market demand for enhanced safety, space and amenity,” the planning submission notes.

A major focus of the proposal is its five-level wellness and lifestyle offering, extending from the basement through to the rooftop.

Amenities proposed include a rooftop Swim &amp; Racquet Club with a 25-metre Olympic lap pool and tennis court, coworking spaces and libraries, golf simulators, wine storage, concierge facilities, business lounges, pet wash areas, and rooftop longevity-focused wellness spaces with spas, outdoor fitness zones, and landscaped terraces.

<img alt="First Look: Cavcorp unveils Teneriffe House and Teneriffe Lane plans for landmark wellness tower in Teneriffe" data-entity-type="file" data-entity-uuid="944b352c-49b9-4247-a4c6-5967b4b69fda" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/amenity.png?VersionId=Ed_qKjAtMwFT.5gfl3jiA9QwdWxSMsaX" />

All parking will be concealed within basement levels accessed from Wyandra and Helen Streets. Cavcorp says the deep-basement engineering approach allows the entire ground plane to prioritise landscaping, pedestrian movement, and active frontage rather than vehicle infrastructure.

The development continues Cavcorp’s concentration in Newstead and Teneriffe, where the Brisbane developer has delivered a number of apartment projects including Lucent, Le Bain, and Luminare, as well as the Long Island Wellness Precinct nearby. Several of those projects have received national design and architecture awards, including recognition under Brisbane’s “Buildings that Breathe” program.

Cavcorp unveils wellness-focused Teneriffe House and Teneriffe Lane apartment buildings

Focus Group Investments has lodged plans for a new apartment development at <a href="https://www.apartments.com.au/new-apartments/64-70-hanover-street-fitzroy-vic-3065">64–70 Hanover Street</a> in Fitzroy, seeking to utilise the Victorian Government’s recently introduced Great Design Fast Track pathway to accelerate approvals for the project.

The proposal is among the latest developments to emerge through the state-led initiative, which was established to fast-track well-designed residential projects in activity centres and transport-connected inner-city locations. The pathway allows qualifying developments that meet elevated design and housing benchmarks to bypass traditional council planning timeframes and instead be assessed directly by the Department of Transport and Planning.

Designed by SJB, the development will comprise a mix of apartments above activated lower levels, with a strong focus on architectural articulation, landscaping, and communal amenity. The design response seeks to balance the industrial character of Richmond’s former warehouse precincts with a more contemporary residential form.

<img alt="First look: Focus Group Investments taps Victoria’s Great Design Fast Track for Richmond apartments" data-entity-type="file" data-entity-uuid="abea51cc-d85b-479e-9aef-a589f3b37ca7" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/ground.png?VersionId=e1Kf8EyPWwyiVumtqQ4rM5S4GpOR3CCz" />

Proposed are 63 new dwellings, a wide ranging mix of studio, one-, two-, and three-bedroom apartments, and townhouses and duplexes. They will be spread across a part-three, part-eight storey building.

The Planning and Urban Context Report by Tract says the development is of an "exemplary architectural standard" and has been carefully crafted by SJB Architects.

"Dwellings&nbsp;will benefit from excellent access to natural light, cross-ventilation opportunities and extensive communal space," the report noted.

The architectural material highlights the project’s integration of landscaped elements and communal spaces throughout the building. The proposal also incorporates sustainability initiatives aligned with the Victorian Government’s push for higher-performing apartment developments under the fast-track program.

The Great Design Fast Track was unveiled by the Victorian Government in 2024 as part of a broader housing supply strategy aimed at accelerating the delivery of new homes. Projects assessed through the pathway must demonstrate high-quality architecture, sustainability outcomes, and housing diversity while being located close to public transport and existing infrastructure.

<img alt="First look: Focus Group Investments taps Victoria’s Great Design Fast Track for Richmond apartments" data-entity-type="file" data-entity-uuid="afdbe834-8dc4-4a77-a943-ba07bc927348" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/site_11.png?VersionId=0J657j.TaChAZfp93wqJYBTqSsnREJx2" />

Focus Group, founder and led by Paul De Lutiis, is increasingly active across Melbourne’s inner suburbs, targeting well-connected urban renewal locations suited to medium and higher-density residential development. The Fitzroy proposal continues that strategy, leveraging the area’s strong transport links, established retail amenity, and proximity to the CBD.

Fitzroy has been one of the most popular spots for developers and buyers in recent years. The likes of PACE Development Group, SMA Projects, Crema Group and Chapter Group, currently selling projects in the suburb.

First look: Focus Group Investments taps Victoria’s Great Design Fast Track for Fitzroy apartments

Hammer Price

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A private investor has paid $705,000 on a 5.1% yield for a purpose-built café at Moorabbin in Melbourne’s south-eastern suburbs.
It was sold at Teska Carson auction by George Takis, attracting four bidders.
The 89 Levanswell Road property located near Moorabbin’s industrial heartland comprises a 125 square metre café space with on-site parking for 10 cars.
The 703 square metre property was sold subject to an eight year lease from January 2013, with an eight year option, at a current rental of $36,000 per annum with annual 3.5% increases.
A nearby takeaway freehold property has been listed returning $1200 a month <a href="https://www.commercialview.com.au/view/commercial-for-sale-details-6815527" target="_blank">with an asking price of $275,000</a> through Balance Business &amp; Real Estate. 
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jchancellor-FAypfDUnLy

Moorabbin cafe sold under the hammer at 5.1% yield

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The commercial offering at 10 Bridge Road, Glebe fetched $3.78 million when auctioned this week by AuctionWORKS.
<a href="https://www.realcommercial.com.au/property-land+development-nsw-glebe-501320519" target="_blank">It was offered</a> by Gerard Cole Property Consultants agent Michael Culibrk.
The land size was around 360 square metres with open plan showroom, spacious warehouse with roller door access and executive offices.
It was sold by a Victorian investor as a possible building block.
The tenant is Ruby Star which is set to relocate.
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Glebe showroom sells for $3.78 million

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The 249 King Street, Newtown retail premises sold at mid-week auction for $4,125,000.
It last sold in 2007 at $2.1 million.
It was sold by <a href="https://www.realcommercial.com.au/property-retail-nsw-newtown-501314587" target="_blank">Laing &amp; Simmons Commercial a</a><a href="https://www.realcommercial.com.au/property-retail-nsw-newtown-501314587" target="_blank">gent </a><a href="https://www.realcommercial.com.au/property-retail-nsw-newtown-501314587" target="_blank">Tony Anderson and Lindsay Sturrock</a>.
There was a $2.7 million opening bid with auctionWORKS' David Scholes. 
The fully renovated, two level building is located in the heart of King Street, Newtown.
Pentimento, the specialist book and gift shop, is one its two established tenants with long-term leases.
The net income is $204,741.83 per annum, plus GST.
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Newtown, Sydney retail store sells for $4,125,000

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An art deco icon of the Great Ocean Road, the Lorne Theatre, sold to an anonymous buyer.
The theatre, built in 1937, was offered for the first time since it was purchased by the vendors in the 1960s, with vendors <a href="/expert-insights/buying/iconic-lorne-theatre-up-for-auction-tomorrow-with-2-5-million-plus-hopes">expecting bids over $2.5 million</a>.
Some Lorne residents have been worried that the sale will bring an end to the landmark cinema. While the theatre was on the market, a public meeting with Heritage Victoria was held to discuss potential development on the site.
Prior to the sale, selling agent Shaun Venables of Burgess Rawson told Property Observer that developers were among the potential buyers, but that most were keen to retain some aspect of the theatre’s heritage.
“Most of the developers we’ve spoken to are sympathetic to the theatre’s current use – they’re considering redevelopment, rather than development,” Venables told Property Observer.
According to Venables, the 530 seat theatre had only been filled once in the past 25 years.
The cinema’s lease is due to finish in 2016, with the operators paying $78,180 a year in rent. The 715 square metre corner site has 56 square metres of dual frontage onto the Great Ocean.
Meanwhile, another Lorne site with development potential and Great Ocean Road frontage is currently on the market.
Colliers International’s Jonathan Lumsden and Andrew Lewis are selling a 3,480 square metre site at 14-16 Great Ocean Road, a three minute drive from the Lorne Theatre.
The Residential 1 zoned plot with a 1980s style five bedroom, two bathroom house at <a href="https://www.realcommercial.com.au/property-land+development-vic-lorne-501171687" target="_blank">14-16 Great Ocean Road</a> (pictured below) will be auctioned this Saturday.
<img src="/images/2014/07/02/colliers.JPG" alt="">
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jrichardson-uRX5hFdKfN

Iconic Lorne Theatre sold

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A Melbourne-based CBD building has been on the market for just 12 hours before being purchased for $5.4 million, or 4.29% yield, by a China-based family. This equates to $18,500 per square metre.
The property, at 355 to 357 Exhibition Street, is a three-level 880 square metre building. It includes ground floor retail and four upper level apartments. The site itself is 291 square metres and is diagonally opposite Carlton Gardens.
The property was sold fully-leased to six tenants, and includes a mix of retail and residential renters. Most are on short-term leases, and it equates to $232,000 per annum.
Savills Australia head of city sales and investments, Clinton Baxter, and Nick Peden, negotiated the sale, and said that a number of highly motivated investors were rushing to make offers.
“This is yet another example of the rush to buy Melbourne property at the moment, rush being the definitive term. The phone literally ran hot resulting in numerous potential purchasers making inspections within hours of hitting the market,” said Baxter.
“This reflects the strong demand for well located smaller freehold properties within the CBD, properties which are increasingly shrinking in number as major development takes over the central city area,” he said.
The building is placed for future highrise development and would have desirable views.
The vendor had held the building for 33 years and was a local private investor.
It appears that the tenants include Tourism Malaysia and a Thailicious.
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jduke-EHk3XBmHkn

Just hours on the market and… sold, to an offshore family for $5.4 million

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A Toorak Village retail property boasting a double height shopfront façade has sold for $1.848 million.
Fitzroys agents Michael Ryan and Charles Emmett undertook auction campaign and noted a significant amount of local and offshore interest.
“The well-attended auction saw two bidders competing, with the property ultimately sold to an offshore investor,” said Ryan.
The 462 Toorak Road property including 123 square metres of building area and is northfacing. It is zoned Commercial 1 and was offered subject to a seven year lease with a further seven year term to Higgovale Fashion Distribution, and Christensen Copenhagen.
It returns $103,415.50 per annum plus GST.
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Toorak Road's $1.848 million retail sale to offshore investor

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A freestanding office building at Braeside, in Melbourne’s south-east, has been purchased by an accounting firm for $1.165 million.
It is a 509 square metre, two-level building with glass paneled façade. At 232 Boundary Road it also includes 21 on-site carparks on a 1,113 square metre site, and is fully-fitted office accommodation.
The firm is expected to occupy the top floor.
The property was sold subject to the ground floor lease returning $45,000 per annum net.
The property was bought at an auction held by Savills Australia Notting Hill.
Selling agents Daniel Kelly and Cameron Stuckey said that it would benefit from infrastructure and amenity redevelopment nearby Moorabbin Airport.
“This was an ideal purchase for a firm which was looking for an attractive, well-located, building which could also offer both capital growth and ongoing rental returns,” Kelly said.
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Melbourne office snapped up by accountant for $1.165 million

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A cold storage freestanding warehouse facility in Brisbane's south-east has been sold by Ray White Commercial, bringing in $1.35 million.
The Tingalpa property, at 67 Proprietary Street, sold as vacant possession to processed food distributors PFD Foods.
The deal was negotiated by Ray White Trade Coast's Jared Doyle who said that solid interest had been seen in the facility, with a number of offers before the accepted $1.35 million.
On approximately 2,126 square metres, of which the warehouse covers 960 square metres, the facility will be an addition to PFD Food's existing premises in Lytton. “PFD Foods was looking for another food preparation facility and offices to accommodate its growing business catering for a new contract with Costco,” said Doyle. “This facility has approximately 312 square metres of mezzanine office level.  There’s approximately 521 sqaure metres of food preparation and cold storage areas and a goods receiving ability from the hardstand area.”
It caters for parking of 12 cars, and is fully fenced. Doyle noted that another bonus is the location of the property to the Gateway Motorway, Brisbane Airport and the Port of Brisbane.
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Brisbane cold storage warehouse brings in $1.35 million

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Caravan parks appear to be attracting a lot of attention in New South Wales’ far north coast area of Tweed Head.
Ray White Commercial notes that Tweet Heritage Caravan Park at Chinderah (pictured above) sold for $6.08 million.
Sam Johnson of Ray White Commercial said that it was a once in a lifetime option to acquire the fully operational business set up on a substantial parcel of land.
“We had 76 enquiries during the marketing campaign and 15 offers to purchase were received. Caravan parks and manufactured housing estates are playing an increasingly important role in meeting the housing requirements of the ageing population in Australia,” he said.
Institutional investors and “cashed up private investors” are looking at this sector of the market, he said.
This most recent sale followed two other similar sales totaling more than $12 million. One of these sales was the adjoining Chinderah Lakes Caravan Park at 182-184 Chinderah Bay Drive, Chinderah. This site cost just under $4 million and sold to the same Sydney-based private fund.
The Royal Pacific Tourist Retreat and Caravan Park in Chinderah was also recently bought for $2.5 million.
THE PROPERTY
<ul>
<li>Vendor: Tweed Heritage Park Pty Ltd</li>
<li>Type: Caravan park</li>
<li>Details: 147 caravan sites, two large four-bedroom residences, manager’s office.</li>
<li>Income potential (gross): $1 million</li>
<li>Offers: 76 enquiries, 15 offers to purchase</li>
<li>Size: 40,100 square metres</li>
<li>Address: 186-202 Chinderah Bay Drive, Chinderah</li>
<li>Bought by: Sydney-based private fund</li>
</ul>
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Three caravan parks sold in Tweed Heads region

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An off the market sale from Barney Dear of Ray White Commercial Perth saw a warehouse/showroom snapped up in the industrial suburb of Bayswater for $875,000.
At 10 Durham Street, Bayswater, the warehouse is 565 square metres, made of brick and concrete panel, on 1,214 square metres of land.
“We were engaged to sell the property in April of this year. Prior to taking the property to the market we identified a number of possible buyers on our database and notified them that we were listing the property for sale," said Dear.
“Following an inspection with one of the buyers, an offer was received and after a period of negotiation was accepted by the owners."
The sale occurred within five days of the property being listed for sale and saw the contract go unconditional a week later.
It will settle in July - the seller's preference.
Interested parties can look to lease the warehouse from early-July 2014, for $60,000 per annum plus GST and outgoings.
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