<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" />

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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

Herron Todd White

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Wollongong’s industrial sector looked set to continue years of buoyant conditions prior to the coronavirus wreaking havoc on the local economy, according to the latest report from valuation firm Herron Todd White.
“Obviously all bets are off at the moment with the market broadly in a freeze as investors, owner-occupiers, developers and tenants for the most part adopt a wait and see approach, needing comfort on the long term economic impact prior to making a buying or leasing decision in this current uncertain environment,” the firm said in their April Month-in-Review.
“Each transaction that takes place during this period needs to be scrutinised heavily as motivations of the participants involved will fluctuate quite significantly. This is not a normal market.”
The firm said they were aware of an industrial property owner very close to retirement who was happy to sell at a circa 10 to15 percent discount on what was fair market value as the risk of holding and waiting for the situation to settle was not worth it for them.
“The purchaser was very happy to acquire at this discount, believing values will return to pre-Coronavirus levels in two to three years time, if not sooner.”
The Commonwealth has released a mandatory code of conduct for commercial tenants with an annual turnover up to $50 million, providing a guideline for those impacted by a downturn in trading.
The report concluded that, despite recent downturn, the medium to long term outlook for the Illawarra industrial sector remains strong.
“The region may well benefit from a lower Australian dollar, repatriation of offshore manufacturing facilities and construction of warehouse facilities to ensure adequate levels of stock are held as insurance for potential future disruptions to the global supply chain.”
The area’s biggest asset as an industrial market are its “proximity to Sydney; construction of the second airport in Western Sydney; expanding Port of Port Kembla; and state government investment in infrastructure, with more likely to follow as part of Commonwealth and state government stimulus measures.”
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How Wollongong’s commercial market has fared during the coronavirus pandemic: HTW

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The current Coronavirus pandemic is anticipated to have a substantial and lasting impact on Sydney's commercial property market, according to the latest report from valuation firm Herron Todd White.
The firm found that, while the precise impact on the industrial market was hard to gauge at this time, many businesses were struggling to sustain themselves and pay rent.
“On the other hand, freight and logistics businesses are seeing huge demand, with many currently thriving,” the April Month-in-Review report added.
“The logistics market was already in high demand prior to the current Coronavirus pandemic, driven by a lack of supply and increases in demand.”
“We expect the logistics market to continue to perform well, particularly later in 2020 and early 2021. Our general view is that industrial assets have been fairly stable in recent years, both locally and globally, and we do not expect that sentiment to change significantly despite the economic conditions.”
The firm anticipated that industrial assets will hold or, should there be a broader decline, sustain their value better than other asset classes.
“Well-positioned, investment-grade assets such as high quality logistics premises are likely to continue to perform well relative to other sectors of the market, although we caution that we do expect there to be fewer buyers.”
The report also found that there was growing optimism about the future of local manufacturing, which is anticipated to result in an increase in demand for factory premises.
There has been significantly increased discussion throughout this Coronavirus pandemic about Australia’s reliance on international manufacturing and the fragile nature of an economy so reliant on external input.
Local manufacturing is therefore tipped to see significant growth in the wake of the pandemic as Australians’ demand for local products increases.
The primary market concern posed by the report was that “mum and dad investors” and small business are facing existential economic challenges.
“We anticipate that this sector of the market may experience some decline in values over the coming months as a result of decreased demand and a reduction in rental returns.”
“We also consider it likely that the closure of restaurants, pubs and other food related businesses will continue to have an effect on the industrial market, particularly for food and beverage warehousing and distribution.”
“Across the industrial market, we have seen many marketing campaigns withdrawn, with vendors opting to wait out the current crisis. This trend is likely to continue until confidence returns to the market.”
“Like most commercial assets in Sydney, we have concern about the ability of some tenants to make their rental payments in full and the general lack of demand for rental properties. We anticipate that it will be some time before this returns to normal and we expect to see longer than usual lease up periods.”
The firm concluded that there were both opportunities and challenges arising out of the new economic situation, however suggested that it is too early to anticipate the depth or breadth of the impact to the industrial market across Sydney.
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How Sydney’s commercial market has fared during the coronavirus pandemic: HTW 

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The Brisbane industrial property market started 2020 with a bright outlook as the favoured commercial asset class however the COVID19 pandemic has upended all previous predictions, according to the latest report from valuation firm Herron Todd White.
“Over the past two years, the industrial market experienced firming yields across prime assets supported by solid purchaser demand and the low interest rate environment, however with the outbreak of Coronavirus, the global economy is in uncertain times and there are likely to be significant impacts on the Australian property market,” said the firm in their April Month-in-Review report.
Discussions with leading industrial agents suggests that sales activity has slowed significantly, with some reporting all of their current stock being removed from the market and existing leasing negotiations being deferred for three months or ceasing all together.
Of the properties that have remained on the market, the report says that weaker buyer demand and extended selling periods have set in with some vendors even accepting softer than expected yields to incentivise would-be purchasers back to the discussion table.
The firm found that increased incentives are being offered in the form of rent free periods, however this does not yet appear to be having a noticeable affect on the drop off in transactions.
“As with the pre Coronavirus climate, the most active segment of the market will continue to be transport and logistics with tenants gravitating towards modern properties with good access to motorways,” the report found.
“The full effects of this global pandemic are still somewhat unknown, but despite this, the fundamentals that positioned the Brisbane industrial market for a strong 2020 are still there, albeit in the background.”
“Once we can all return to a somewhat normal environment, the Brisbane industrial market will no doubt be appealing based on those underlying factors of a low interest rate environment, lack of supply of quality, investment grade assets and the availability of capital,” the report concluded.
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How Brisbane’s commercial market has fared during the coronavirus pandemic: HTW

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Property values in the Mildura region are remaining relatively steady, with the agricultural sector appearing mostly insulated from the contemporary economic downturn, according to the latest rural report from valuation firm Herron Todd White.
“The huge amount of uncertainty resulting from the outbreak is still likely to stall some property sale negotiations, however the fundamentals for food production remain sound and we expect that sales will eventually resume and that the impact on values will be less than for other property sectors,” the report found.
The 15 percent slide in the exchange rate, to current levels of around US $0.57, is expected to help maintain export returns for the local horticultural economy, despite predictions that there may be issues around accessing key markets.
“We note that domestic market prices have risen in some cases due to concerns about shortages of supply,” the firm continued.
“An issue for some of our labour intensive industries (think manual harvest of table grapes and citrus) will be the availability of casual labour.”
Many growers in the region rely on sourcing itinerant workers from the Pacific region or south-east Asian countries, and this will be reduced due to the pandemic.
The report found that the regional almond industry will face challenges as a result of the destruction of a huge number of bee hives during the summer fires.
“Almonds rely on bees for pollination and the simple economic theory of supply and demand will see the cost rise significantly.”
<a href="https://static.htw.com.au/HTW-month-in-review-April-2020-Rural.pdf">T</a>he full 'Month-in-Review' Herron Todd White report for April 2020 can be found <a href="https://static.htw.com.au/HTW-month-in-review-April-2020-Rural.pdf" target="_blank">here.</a>
The full Herron Todd White 'Month-in-Review' for April can be read<a href="https://static.htw.com.au/HTW-month-in-review-April-2020-Rural.pdf" target="_blank"> here.</a>
 
Note regarding COVID-19:
 
This edition of Month In Review had its topic defined in late February with submissions from our offices collated through to late March. During this period, shifts in the social and economic landscape due to COVID-19 became increasingly dramatic, as demonstrated by the varied information provided by offices over the course of three weeks.
 
This month’s residential theme on baseline property market drivers remains a common thread, and provides an indication of what influences to monitor as the property sector recovers post-crisis.
 
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Mildura region holding value thanks to resilient agricultural sector:  HTW rural

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Queensland north and north west may serve as a good source of employment while the hospitality sector struggles, according to the latest rural report from valuation firm Herron Todd White.
“As the pandemic is endured, society is looking to the agricultural sector to continue to produce an abundance of clean and safe foods,” the firm said.
“The low Australian dollar is of benefit to competitiveness for the sale of our safe and nutritious products on the global market”
This does not, however, mean boom time for agricultural property markets.
Unlike urban residential markets, graziers are still pushing ahead with their interest in acquisitions and expansions.
The pandemic has reduced the hot air value talk, which is a healthy thing for the rural property markets.
North and north-west Queensland has a limited supply of rural land on the market.
Demand is moderate to strong in the small to middle scale property sizes.
The pandemic has served to place a head check on purchaser frivolity.
“Vendor prudency is required as the pandemic continues and commodity supply chains redesign themselves. Not only is the pandemic a property market risk checker, so too is the season,” the report continued.
“There are parts of north and north-west Queensland that have not had the best season, and there are districts that have had a cracker of a season.”
Cattle are being sold off accordingly to southern markets where there have been better seasons.
This southern demand has served to mask the market while the supply chain issues around ports and meatworks are sorted.
At this stage, rural property markets in the north and north-west Queensland appear stable. Stakeholders are considering their risks and implementing protocols to protect their health while they continue to grow an abundance of healthy and safe food.
The full “Month-in-Review” Herron Todd White report for April can be found <a href="https://static.htw.com.au/HTW-month-in-review-April-2020-Rural.pdf" target="_blank">here.</a>
Note regarding COVID-19
 
This edition of Month In Review had its topic defined in late February with submissions from our offices collated through to late March. During this period, shifts in the social and economic landscape due to COVID-19 became increasingly dramatic, as demonstrated by the varied information provided by offices over the course of three weeks.
 
This month’s residential theme on baseline property market drivers remains a common thread, and provides an indication of what influences to monitor as the property sector recovers post-crisis.
 
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Queensland north and north west markets look towards promising future: HTW rural

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The sugar cane industry, on which the New South Wales North Coast relies, has been under substantial pressure in recent times, according to the latest rural report from valuation firm Herron Todd White.
This has been driven by low international prices for the commodity, and the purchase of farms for planting macadamia nut trees and tea trees in the region.
Sugar cane farmers have long worked in a co-operative fashion and share harvesting and planting equipment in various well-organised farmer group structures to defray capital and operating costs.
The report found, however, that in more recent times, some farmers, particularly in the Condong Mill Area, have changed farm practices to growing all one year old cane instead of a mix of one and two year old cane.
“Earlier in the season, sugar producing and ratooning varieties and minimum tillage has promoted this practice of growing only one year old sugar cane. The experience of growing only one year sugar cane is higher levels of overall farm production,” the firm said.
“This region is renowned as a prolific beef store weaner producer historically popular with tableland and western graziers.”
“Although many weaners may still be sold to be grown out or finished in the western areas or feed lots, many beef graziers are improving pastures and genetics so that they can sell their product at higher live weights and gain a higher value and return per head.”
For this reason, the report found, there has been limited sales activity in 2020.
Some sugar cane farms in the Condong Mill area are reportedly sold or under contract, and an avocado farm at Fishermans Reach is reportedly under contract.
The full Herron Todd White 'Month-in-Review' for April can be read <a href="https://static.htw.com.au/HTW-month-in-review-April-2020-Rural.pdf" target="_blank">here.</a>
Note regarding COVID-19:
 
This edition of Month In Review had its topic defined in late February with submissions from our offices collated through to late March. During this period, shifts in the social and economic landscape due to COVID-19 became increasingly dramatic, as demonstrated by the varied information provided by offices over the course of three weeks.
 
This month’s residential theme on baseline property market drivers remains a common thread, and provides an indication of what influences to monitor as the property sector recovers post-crisis.
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NSW North Coast property stagnates as sugar cane industry hits trouble: HTW rural

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The news that construction of a new irrigation dam near Cairns appears unlikely in the foreseeable future is cause for some concern, particularly given the high number of recent avocado and citrus tree plantings in the Mareeba and Dimbulah Irrigation Area, according to the latest rural report from valuation firm Herron Todd White.
This has impacted values in the region.
“The threat of drought, reduced irrigation water allocations, and the continued popularity of the avocado has led to change in northern horticultural industries,” the firm said.
"Fear of a repeat of the 2016/17 drought is never too far away from the minds of irrigators in Mareeba and the Atherton Tablelands."
Growers have adapted to water security concerns by constructing dams that utilise existing overland runoff and recycled irrigation water that would normally go to waste.
The benefit of these on farm dams is that they are not regulated by Sunwater, therefore the water is free from regulatory charges and the danger of reduced allocations.
To improve the efficiency of these dams, growers are also upgrading their pumping infrastructure with variable speed drives which have resulted in significant savings on their electricity bills.
The report also found that composting has emerged as a major new industry in the horticultural area in far north Queensland.
A large composting facility known as Shark Recyclers has been constructed in Biboohra, north of Mareeba.
It is reported to be a next-generation facility that is the largest licensed compost and soil conditioning manufacturing facility in Queensland.
This has helped growers in far north Queensland to expand into the profitable avocado sector. The recent sale of a mixed avocado and sugar cane property in the Mareeba district for nearly $60 million demonstrates the changing market.
Many growers have successfully transitioned from traditional mango and other tropical fruit crops to Shepard and Hass avocadoes, chasing the insatiable consumer demand for avocadoes.
Fruit prices in recent seasons have been very profitable with sales of going concern avocado farms very rare as growers have tended to hold on to these assets to take advantage of super profits.
Nearly 50,000 trees have been planted in recent years in the Mareeba and Atherton districts as growers look to cash in on continued high prices.
The full “Month-in-Review” Herron Todd White report for April 2020 can be found <a href="https://static.htw.com.au/HTW-month-in-review-April-2020-Rural.pdf" target="_blank">here.</a>
Note regarding COVID-19
This edition of Month In Review had its topic defined in late February with submissions from our offices collated through to late March. During this period, shifts in the social and economic landscape due to COVID-19 became increasingly dramatic, as demonstrated by the varied information provided by offices over the course of three weeks.
This month’s residential theme on baseline property market drivers remains a common thread, and provides an indication of what influences to monitor as the property sector recovers post-crisis.
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Cairns region home to both optimism and concern; HTW rural 

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The office market across was strong last year in both the Sydney CBD and metropolitan centres, however it is too early to predict the impact COVID-19 will have on prices, according to the latest report from valuation firm Herron Todd White.
“The two main markets in Sydney that we are watching closely this year are the CBD and Parramatta,” the April report said.
“They continue to dominate in terms of demand, supply and infrastructure projects.”
The Sydney CBD vacancy rates recorded by the Property Council of Australia (PCA) in January 2020 were 3.9 percent.
The firm found that tight vacancy kept rentals at record highs, particularly for prime and A grade stock, however agents began reporting softer demand for B through to D grade stock throughout 2019.
New approvals for office accommodation are low across the CBD, with approvals being generally focused on residential and hotel redevelopment rather than traditional office space.
According to the PCA, however, 154,424 square metres of new stock is due to enter the market in 2020 and 96,548 square metres in 2021.
“We continue to note that strong demand from owner-occupiers appears to be propelling this value growth,” the report continued.
The current interest rate environment is fuelling borrowing power and market sentiment across the board.
The current low cost of money combined with the impact of rising rents has seen a significant increase over the past two years in tenants looking to purchase to owneroccupy.
This appears to be a strong driver in increasing capital values as tenants looking to owneroccupy as well as owner-occupiers in general are typically less reliant on potential yields and as such, are more willing to pay a premium to secure the property they desire.
We expect this trend to continue this year and have already witnessed some strong sales in 2020 that would indicate that demand is still there.
Parramatta continues to emerge as the prime commercial precinct of the Sydney metropolitan area, underpinned by a significant investment in infrastructure and the completion of a number of development projects including the Parramatta Light Rail due for completion in 2023, the new Powerhouse Museum, upgrades to Westmead Hospital and Parramatta Square and the upgrades to the M4 Motorway, increasing connectivity and appeal of commercial space within the CBD to the greater Sydney metropolitan area.
“Parramatta remains the best performing metropolitan CBD in the country, with vacancy at 3.2 percent as at January 2020 (source: PCA) and increases in net face rents, primarily driven by low supply additions and the draw of more affordable rentals than the city,” the report said.
While 157,643 square metres is currently under construction and due to come online over the next two years, there is currently 82.27 percent pre-commitment for this space.
Further to this, the lack of new supply of commercial stock within the Sydney CBD has also created an increase in appeal to investors and owner-occupiers from a sales perspective, considering the comparatively lower capital outlay required to enter the market, combined with the centralised location of the commercial hub and prevailing low interest rates, making it the next sought after commercial centre.
“Given the performance of the locale, lack of stock and the investment in infrastructure, we consider the Parramatta commercial market to generally illustrate a positive outlook moving into 2020 with increases in net face rents, prevailing low vacancy rates and reductions in yields,” the firm concluded.
“We note that the emergence of the Coronavirus (Covid-19) pandemic has had a significant impact on global economic growth and the Australian economy.”
“We consider this will have an adverse impact on the Sydney commercial office market in general but that like all markets in Sydney it is too early to tell the impact.”
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Sydney office market still strong but faces tough road ahead: HTW

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Townsville’s demographic composition by age structure changed significantly over the ten years from 2008 to 2018, according to the latest report from the valuation firm Herron. Todd White.
“The proportion of persons in the population aged 55 and over has progressively increased from 18.9 percent to 23.9 percent due to the combined impacts of baby boomers entering these age ranges, population ageing and older people remaining affiliated with Townsville rather than moving elsewhere,” the March report found.
Meanwhile the proportion of the population aged either 10 to 19 or 35 to 44 has diminished from 29.8 percent to 26.3 percent, suggestive of families with high school or university age children having lesser attachment to the region.
“Trends in the age composition of the population will not only have economic implications for Townsville and its future labour supply, but also impact on future housing styles and choices in the Townsville property market,” the report continued.
“We have started seeing a move by downsizers towards inner city unit living, particularly within the suburb of North Ward.”
This style of housing provides low maintenance options for retirees whilst being in close proximity to lifestyle amenities such as The Strand, cafes and entertainment.
“First home buyers are currently preferencing new home construction or packages, whilst we are also seeing movement from buyers currently residing in the outer suburbs to suburbs within closer proximity to the city centre,” the report concluded.
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Townsville market undergoes substantial demographic changes: Herron Todd White

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The Melbourne retail investment sales market generally remained steady towards the end of 2019 with firm yields reflecting the limited availability of quality stock and solid purchaser demand, according to the latest report from valuation firm Herron Todd White. 
 “We have seen particularly strong results for well located properties with long term leases to major national retailers and for those with longer term development potential. We have continued to see varied results throughout the wider market,” the firm found.
There have been a number of examples of heavily declining rents which, when coupled with already sharp yields, is resulting in downward pressure on capital values in some areas. 
The March report indicates that financial institutions are placing an increased focus on factors such as security of income, lease covenant and length of remaining lease term for assessing serviceability of debt. 
As a result of the reduction in the borrowing power of purchasers, see signs of a slowdown in the constant price rises over the past five-year period are beginning to appear.
When on the market for sale, some retail properties are experiencing extended selling periods, particularly vacant retail assets and those in secondary locations. As the wider retail market continues to evolve and adapt to the challenges, we are witnessing retailers looking to differentiate and reinvent themselves in the market. 
Online retailing continues to place downward pressure on bricks and mortar retailing however will likely continue to play an important role in a brand presence. 
According to the Australian Bureau of Statistics, retail trade in Victoria rose 0.3 percent from November to December 2019 with an annual increase of 2.8 percent from September 2018 to December 2019. 
Nonetheless, many retailers are expecting difficult operating conditions throughout the first half of 2020. 
"A number of retailers are now rationalising their footprints by way of reducing store sizes and in some instances, closing underperforming or unprofitable stores. The downward pressure on rents in suburban retail strips experienced throughout the majority of 2019 is expected to continue throughout 2020 with tenants continuing to seek short initial terms, sometimes as short as one year, with a number of further option terms which allows for flexibility in the short term but some security and certainty to retain the premises should the location prove suitable for the business," the firm added
From a landlord’s perspective, these flexible leasing terms are attracting tenants, covering operating costs and providing for reviews to market should the leasing market improve. 
There is also a continuing trend of tenants being more aware of the impact that significant incentives have on net effective rents. 
Tenants appear to now be more open to negotiating lower face rents in lieu of rent-free periods or fit out contributions which provides more transparency for the tenant and landlord. 
During 2020, the Melbourne retail investment market is expected to see varied results across different market segments. 
“We are of the opinion that yields will remain stable for retail properties in strong retail locations such as the major strips in the Melbourne CBD and inner suburbs such as Collingwood and Fitzroy in addition to retail assets such as supermarkets which have long term leases to major national retailers and for properties with longer term potential for redevelopment. It is likely that yields may soften for retail properties in secondary locations, particularly within areas with low tenant demand and high vacancy rates,” predicted the firm. 
As in previous years, the Melbourne CBD and inner suburban retail rental markets will continue to be heavily impacted by population growth, changes in consumer behaviour and varied consumer confidence. 
Some areas, such as Chapel Street, South Yarra and Bridge Road, Richmond will likely continue to experience high levels of vacancy as a result of the ongoing shift away from traditional retailing towards service and food based uses. 
Outer suburban retail markets, in particular those outside established retail locations, will likely be impacted by larger operators who are opting for a more centralised model of retailing appealing to consumers demanding a more convenient and interactive shopping experience.
Smaller retailers unable to sustain the higher rental rates typically demanded within modern centres will struggle to adjust to the larger number of vacating tenants along older retail strips unable to provide the convenient experience modern consumers demand, the report concluded. 
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