Brisbane-based developer <a href="https://www.apartments.com.au/developers/red-co">Red &amp; Co</a> has made a striking debut on the Gold Coast, officially unveiling its $250 million COMO development in Varsity Lakes, a lifestyle-driven residential project anchored by an extensive rooftop wellness and activity precinct.

Having recently launched to market, construction has already been fast-tracked by <a href="https://www.apartments.com.au/builders/5point-projects">5Point Projects</a>, ensuring momentum continues on what is set to become a landmark residential address for the growing Varsity Lakes community.

Located at 22 Lake Street, Varsity Lakes, <a href="https://www.apartments.com.au/new-apartments/como-varsity-lakes-22-lake-street-varsity-lakes-qld-4227">COMO</a> will comprise 156 apartments across 16 levels, comprising one-, two- and three-bedroom residences designed for modern living. However, it is the project’s rooftop amenity offering that sets COMO apart.

[smartcode_project:default project_id=135546 project_image_fid=363510]

Designed as a dedicated wellness and recreation hub, the rooftop will feature a 25-metre lap pool, fully equipped gymnasium, and multiple pickleball and paddleball courts - amenities rarely seen in boutique apartment projects.

Residents will also have access to a sauna and plunge baths, while landscaped gardens and relaxation zones will provide tranquil spaces overlooking sweeping panoramic views across the Gold Coast skyline.

The rooftop precinct has been designed to function as the social and wellness heart of the development, encouraging residents to embrace an active, balanced lifestyle within their own building.

&nbsp;

[smartcode_project:default project_id=135546 project_image_fid=363512]

Red &amp; Co director David Laverty said the amenity offering was central to the project’s design from the outset.

“Amenities were at the forefront of our decisions,” Laverty said.

“Buyers today are looking for more than just an apartment - they want a lifestyle that promotes health, connection and balance.

“The rooftop at COMO has been designed to be the epicentre of that lifestyle, with a suite of wellness and recreation facilities that are quite unique for a boutique development of this scale.”

&nbsp;

[smartcode_project:default project_id=135546 project_image_fid=363514]

Designed by <a href="https://www.apartments.com.au/architects/bda-architecture">BDA Architecture</a>, the residences prioritise liveability, featuring spacious layouts, 2.7-metre ceilings and high-quality finishes throughout.

The development sits beside Bond University, placing residents within walking distance of education, retail and dining options within the vibrant Varsity Lakes precinct, including Robina Town Centre, Varsity Lakes Train Station and a range of leading schools.

[smartcode_project:default project_id=135546 project_image_fid=363511]

Laverty said the location was a key driver behind Red &amp; Co’s decision to bring the project to the Gold Coast.

“<a href="https://www.apartments.com.au/developments/varsity-lakes-qld-4227">Varsity Lakes</a> was a clear choice for us to invest in as it’s a lifestyle hub that seamlessly blends lakeside living with urbanity,” he said.&nbsp;

“Como will capitalize on this great location, delivering a project that not only creates premium homes, but a lifestyle defined by community, wellbeing, and connectivity.”

Red &amp; Co has delivered more than 500 apartments and townhouses across 26 projects in Brisbane in recent years, with COMO marking the company’s first major Gold Coast development.

[smartcode_project_cta:default project_id=135546]

Joel Robinson

Red & Co unveils amenity-rich Como development in Varsity Lakes

Gold Coast developer&nbsp;<a href="https://www.apartments.com.au/developers/big-projects">Big Projects</a> has secured approval for its second Mermaid Beach project.

The developer, currently selling <a href="https://www.apartments.com.au/new-apartments/the-frederick-mermaid-beach-2265-gold-coast-highway-mermaid-beach-qld-4218">The Frederick in Nobby Beach</a>, has secured approval for its next project just 1.5 kilomnetres up the road.

The new development, dubbed&nbsp;<a href="https://www.apartments.com.au/new-apartments/glenelg-residences-2462-2472-gold-coast-highway-mermaid-beach-qld-4218">Glenelg Residences</a>, has been designed by BDA Architecture and&nbsp;will have just under 100 apartments across an 11-storey building&nbsp;at 2462–2472 Gold Coast Highway, on the corner of Glenelg Avenue just under 300m from the future Mermaid Beach Light Rail stop.

The apartments, a mix of two- and three-bedrooms, will sit above a retail-focused ground plane and under extensive rooftop resident amenities.

<img alt="Exclusive: Big Projects plot Mermaid Beach apartment development, Glenelg Residences" data-entity-type="" data-entity-uuid="" src="https://res.cloudinary.com/dz9xllyip/image/fetch/f_auto,c_limit,w_1440,q_75/https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/field/image/Screen%20Shot%202024-06-11%20at%209.55.04%20am.png?VersionId=z6NV4izeuvhBSSVlY6vK6TPO1LxrFeaG" />

BDA said in its planning submission that the project is intended to support the area’s transition toward higher-density, mixed-use living. “This project offers the opportunity to generate appropriate higher-intensity development within the future Light Rail corridor of <a href="https://www.apartments.com.au/developments/mermaid-beach-qld-4218">Mermaid Beach</a>,” the submission noted.

At ground level, Glenelg Residences will include eight retail tenancies designed to activate the street frontage, complemented by a basement bar offering an additional hospitality element. Above, residents will have access to a rooftop amenity deck featuring an infinity pool, hot and cold plunge spas, day beds, and barbecue facilities.

The architectural approach adopts a restrained material palette of brick, textured concrete, and integrated landscaping, with cantilevered concrete frames and cascading planting intended to soften the built form. BDA described the design as aiming to create “a memorable sculptural mid-rise mixed-use building” that responds to both its coastal setting and urban context.

<img alt="Exclusive: Big Projects plot Mermaid Beach apartment development, Glenelg Residences" data-entity-type="" data-entity-uuid="" src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,dpr_2.0,q_auto:good/https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screen%20Shot%202024-06-11%20at%209.55.45%20am.png?VersionId=cpjIVBqcT_sujmo2UMWkVyLcQ7WGJHaQ" />

The approval comes as the City of Gold Coast continues to plan for significant population growth, with regional targets requiring more than 100,000 new high-density dwellings by 2046.

<section data-scroll-anchor="false" data-testid="conversation-turn-36" data-turn="assistant" data-turn-id="request-WEB:55d7c6ac-8e6d-4881-ad49-0ed9bf66d1cc-17" dir="auto">
Big Projects, led by Matthew and John Barrett, is part of a growing cohort of developers that deliver construction in-house, providing a high level of confidence to prospective purchasers.
</section>

[smartcode_project_cta:default project_id=150260]

Big Projects secures approval for Glenelg Residences in Mermaid Beach

Sherpa Group is ramping up its investment in the southern Gold Coast by lodging a development application for <a href="https://www.apartments.com.au/new-apartments/flourish-viver-87-griffith-street-coolangatta-qld-4225">Flourish Viveré</a>, a new $350 million project in Coolangatta.

The move comes after the group’s $27 million acquisition of the 2,029 sqm site on the corner of Griffith and Warner Street, last year.

They will develop 194 apartments across a 26-storey tower, which will become Sherpa’s largest project to date.

Viveré will be the next chapter in the Flourish story, following closely behind Amargo, Oasis, and the Avenues in Palm Beach, as well as Symphony in Brisbane, all designed to deliver affordable housing in lifestyle-rich locations, giving locals a real chance to secure a residence close to the beachfront.

The HAL Architect-designed project will offer a diverse range of residences, from one-, two, and three- bedroom apartments to the premium Canopy range to luxury penthouses.

<img alt="Vivere" data-entity-type="file" data-entity-uuid="c85f5a7e-a22f-4745-8def-400adb3c0b35" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-04-15%20at%209.53.43%E2%80%AFAM.png?VersionId=OY.chur3BPExn1exQ2q8clHqWnW_CaBi" />

“The Gold Coast is undergoing a period of immense growth, with more people drawn to the incredible 
lifestyle that’s available, leading to strong growth in property prices,” said Christie Leet, founder of Sherpa 
Group.

“Our goal at Sherpa is to ensure locals are not priced out of the market in prime locations, which is why we 
created the Flourish collection.

“Flourish Vivere will form the next chapter in our portfolio, and we are so excited to be lodging the DA, marking our first project in Coolangatta.”

A signature of the Flourish developments is the communal rooftop. Flourish Vivere will showcase a private resident’s lounge, outdoor dining with barbecues and pizza ovens, heated pool, fully-equipped gym, and a wellness centre with sauna and steam room.

<img alt="Vivere" data-entity-type="file" data-entity-uuid="c09372cc-aae6-4458-af2e-f291bd19a5e5" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-04-15%20at%209.53.49%E2%80%AFAM.png?VersionId=Sc_RLXl5jiff.tnadogXjQJ_WIpDjf3p" />

The project is strategically located to offer a walkable lifestyle, with the Strand shopping centre, cafes, restaurants, shops and the beach, all just a short stroll away.

“We have meticulously planned Vivere to build on the Flourish legacy, creating a truly special project,”&nbsp;Leet added.

“Wellness, lifestyle and community are at the forefront of every decision we make, and that has not 
changed for Vivere.”

With the DA now lodged with the Gold Coast City Council, Sherpa has moved quickly to secure LPS Group as the builder, offering buyers a level of certainty that is rarely seen in today’s market.

Sherpa has delivered 16 residential projects over the past seven years with a pipeline of $1 billion, with more under construction.

Sherpa takes Flourish brand to Coolangatta, lays plans for Flourish Vivere 

S&amp;S Projects is boosting its investment at Rainbow Bay to more than $1 billion after the prolific Gold Coast developer acquired a new site for $20.25 million and immediately laid plans for a new luxury apartment project in the sought-after precinct.

The site, which is the company’s fifth acquisition at Rainbow Bay in the past four years, will be home to the company’s largest project to date after delivering 3 sold-out projects and construction progresses on Radia worth a combined $215m. 
S&amp;S Projects is currently finalising plans for its latest strategic acquisition, a 1,518 sqm site located 209-213 Boundary Street in Coolangatta, with a development application expected to be lodged within weeks.

The luxury residential development will build on the company’s highly successful projects at Rainbow Bay, comprising Flow, Awaken, Esprit and Radia, with Radia currently under construction by Hutchinson Builders.

“We have been unflinching in our commitment to Rainbow Bay and the transformation we have helped drive in this incredible part of the Gold Coast, which is among the city’s most desirable residential locations,” said S&amp;S Projects founder and director Paul Gedoun.

“Our fifth project will reflect the best of what we have done so far to create a lifestyle precinct that is second to none.”

The latest development, which has yet to be named, is proposed to accommodate 88 luxury apartments in a design that will immerse residents in a unique wellness lifestyle that expands on the legacy of S&amp;S Project’s earlier developments at Rainbow Bay.

The development will feature an expansive rooftop garden and wellness centre with a resort- style pool, among a host of lifestyle amenities planned for residents.

“Rainbow Bay, with its beautiful, protected beach and alongside one of the world’s best surf breaks at Snapper Rocks, is the natural wellness heartland of the Gold Coast,” said Gedoun.

“We are taking every advantage to create a truly unique rooftop wellness experience with a natural feel for residents, offering stone features throughout and an underlying theme that emulates a botanical garden.”

The latest acquisition comes as S&amp;S Projects is at the completion of Esprit and construction continues on Radia, which are part of their significant portfolio undertaken by the company at Rainbow Bay since 2022.

The $215 million Radia, which comprises 38 apartments, is currently the flagship development by S&amp;S Projects at Rainbow Bay which is expected to be completed in 2027.

Jayde Pezet, of Pezet Matheson, which has managed sales and marketing for S&amp;S Projects across their Gold Coast portfolio, emphasised the developer’s commitment to continuous improvement and excellence.

“S&amp;S Projects continue to elevate the benchmark of luxury with each development," Pezet said.

“We have worked with S&amp;amp;S on their 4 other projects in Rainbow Bay and their approach reflects a team that is constantly learning, refining, and pushing the standard higher.

“Their hyper-local knowledge and deep expertise within the luxury property sector are what truly set them apart, allowing them to deliver projects that feel both globally sophisticated and authentically connected to their coastal environment”

S&amp;S Projects plans to officially launch its latest project at Rainbow Bay in the second half of this year.

“As we embark on our largest project yet, we have pulled out all stops to create another landmark development that truly reflects the relaxed southern Gold Coast lifestyle,” Gedoun added.

S&S buys $20m Rainbow Bay site for fifth beachside apartment project

Japandi, an emerging design trend that combines Scandinavian functionality with Japanese rustic minimalism, remains relatively untested in Australia’s residential development market.

As developers look to differentiate their projects and offer something distinct to buyers, Brisbane-based developer Lantona has embraced the hybrid style for its recently launched Toowong apartment project, <a href="https://www.apartments.com.au/new-apartments/koya-residences-6-josling-street-toowong-qld-4066">Koya Residences</a>, with early response to the design proving positive.

Lantona entrusted Red Door Architecture and interiors practice Luma Design Co with delivering the Japandi brief. The approach blends Japanese minimalism with Scandinavian functionality, emphasising warm, restrained interiors, natural materials and clean lines. Drawing on the Japanese concept of wabi-sabi (beauty in imperfection) and the Scandinavian principle of hygge (comfort and cosiness), it creates serene, uncluttered and sustainable living environments.

These design principles are expressed throughout the Josling Street development, both in its exterior form and across the 40 one-, two- and three-bedroom residences within.

[smartcode_project:default project_id=150787 project_image_fid=366229]

Koya reflects a deliberately scaled approach, with the five-storey form designed to align with the surrounding residential streetscape rather than dominate it.

“Koya is conceived as a building that sits comfortably within its surroundings. Every decision, from material selection to spatial planning, has been guided by long-term liveability and enduring relevance,” the developer said.

[smartcode_project:default project_id=150787 project_image_fid=366243]

Positioned within an established inner-west neighbourhood, the development sits near riverfront parklands and the Bicentennial Bikeway, while remaining within walking distance of Toowong Village and multiple public transport options connecting to the CBD, St Lucia and West End.

Lantona said the location was central to the project’s conception, pointing to Toowong’s balance of green space, transport access and proximity to major education institutions.

“<a href="https://www.apartments.com.au/developments/toowong-qld-4066">Toowong</a> combines river access, walkability, immediate CBD connection and a strong educational presence. That balance made it the obvious setting for Koya.”

[smartcode_project:default project_id=150787 project_image_fid=366230]

Communal amenity is concentrated on the rooftop, where a shared retreat will include a pool, dining areas and outdoor spaces oriented towards neighbourhood and city views. The design allows for both private use and small gatherings, extending the living environment beyond individual apartments.

Koya enters the market at a time when smaller-scale developments are becoming less common in established suburbs, with many recent projects in the suburb shooting for the sky.

In a nod of confidence,&nbsp;<a href="https://www.apartments.com.au/builders/brisbane-builders">Brisbane Builders</a>&nbsp;has already commenced construction on the building, which is slated for completion in early 2027. Keenan &amp; Byrne is marketing Koya.

[smartcode_project_cta:default project_id=150787]

Japandi-inspired Koya Residences launch in Toowong

High Street

Located in the heart of bustling Preston, Due North&nbsp;is the latest residential offering to hit High Street.

Delivered by Caydon Property, the architecturally designed apartment complex boasts rooftop living, Melbourne views and spacious units.

Climbing 12 levels comprising 107 apartments, Due North features a rooftop space, a co-working area in the lobby and three&nbsp;retail spaces.&nbsp;Each level consists of a maximum of 12 apartments.

Preston is a cultural, foodie and retail hotspot beloved by Melburnians and Northsiders alike. Venture down from a sky-high abode to enjoy a&nbsp;diverse choice of restaurants, bars, breweries, fashion stores and barbers that can be found on High Street. 
[smartcode_project:default project_id=5502 project_image_fid=155330]

Urban has highlighted 10 of the best local amenities a stroll&nbsp;from Due North:

<ol>
	<li>
	&nbsp;The Famous Cedar Bakery&nbsp;(33/35 High St) is known&nbsp;for its Lebanese baked goods, excellent coffee and a range of Middle Eastern spices, pickles and other specialty goods;
	</li>
	<li>
	&nbsp;Darebin Arts &amp; Entertainment Centre&nbsp;(Cnr Bell St &amp; St Georges Rd)&nbsp;hosts a range of community productions and events in its 400 seat proscenium arch theatre and function spaces;
	</li>
	<li>
	If you&rsquo;re hosting a barbeque, place an order at&nbsp;Metaxas Meats&nbsp;(546 Murray Rd)&nbsp;for an authentic gyro spit roast to cook at home;
	</li>
	<li>
	Coming highly recommended from TimeOut,&nbsp;Retropolis&nbsp;(1 Newman St)&nbsp;is a huge converted warehouse featuring a range of retro fashion and bric-a-brac collectors;
	</li>
	<li>
	Tallboy &amp; Moose&nbsp;(270 Raglan St)&nbsp;brew a range of beers on-site and makes an excellent spot to hang&nbsp;out with the crew;
	</li>
	<li>
	A&nbsp;local favourite is&nbsp;Audacious Monk&nbsp;(128 Regent St)&nbsp;who converted&nbsp;its bar and bottleshop into a mini gourmet deli and corner shop during lockdown;
	</li>
	<li>
	There&#39;s a number of options for Chinese food&nbsp;on High Street, including Tina&rsquo;s Noodle Kitchen&nbsp;(352 High St), C-Culture&nbsp;(437 High St) and OTT&nbsp;Gold Leaf&nbsp;(419 High St), each with their own specialties;
	</li>
	<li>
	Dexter&nbsp;(456 High St) is another famed high street eatery know for it&#39;s American slow-smoked barbecue and famous hot meat doughnuts;
	</li>
	<li>
	Breaking off&nbsp;the High Street&nbsp;is&nbsp;Cheapside, home to Preston Flag Market,&nbsp;the Harris, a number of big brand shops, and independent stores and caf&eacute;s;
	</li>
	<li>
	Preston Market is located&nbsp;just off High Street and has favourites like&nbsp;Fried Hustle, taco van&nbsp;Cornutopia&nbsp;(open&nbsp;seven days at Preston Market) and Rhubarb Rhubarb Organics to name just a few.
	</li>
</ol>

[smartcode_project_cta: project_id=5502]

Delivered by Caydon Property, the architecturally designed apartment complex boasts rooftop living, Melbourne views and spacious units.

jordan_55689

A walking tour of Preston: 10 great amenities near Due North apartments

<html><body>
Kew’s popular High Street commercial precinct is witnessing a generational change, with the sale of a second key site in a matter of months set to further activate new space along the strip.
<div class="page" title="Page 1">
<div class="section">
<div class="layoutArea">
<div class="column">
Fitzroys’ Chris James and David Bourke have just sold <a href="https://www.commercialrealestate.com.au/property/171-173-high-street-kew-vic-3101-2014319305" target="_blank">171-173 High Street</a> for $4.175 million under the hammer, on behalf of private vendors that had owned the site for over 50 years.
Owner occupiers and local and offshore investors competed at auction that was won by a local investor. The sale price reflected a 3.9% yield and land rate of around $14,752 per sqm. 
Six months ago, James and Bourke sold a Commercial 1-zoned 526 sqm concrete yard at nearby 226-232 High Street for $4.5 million to a local developer in an off-market deal. 
The 283 sqm site at 171-173 High Street comprises a double-storey 332 sqm building with two ground-floor retail spaces tenanted by ASX-listed Flight Centre and Onyx homewares shop, and a first-floor residence above. It returns $164,000 per annum plus outgoings from multiple income streams. 
James said the property is in the prime section of the High Street, Kew commercial precinct, at the junction of Cotham Road, and with an ASX-listed tenant tenants attracted more than 100 enquiries throughout the campaign. 
Bourke said the purchaser jumped at the primely positioned value-add opportunity in one of Melbourne’s most prestigious suburbs. 
“The property backs onto Athaneum Place, the brick lane connecting Brougham and Walpole streets, which the City of Boroondara has been revitalising to enhance the amenity of the adjacent Kew Junction Shopping Centre with a contemporary and vibrant public space,” he said. 
“The new owner, a local investor, will look to activate the area at the rear of the property with a retail offering fronting the improved Athaneum Place.” 
</div>
</div>
<div class="layoutArea">
<div class="column">
James said the purchaser of 226-232 High Street had completed a number of successful developments across Melbourne and is looking to utilise the site for a mixed-use project.
</div>
</div>
</div>
</div>
<div class="page" title="Page 2">
<div class="section">
<div class="layoutArea">
<div class="column">
“The ongoing introduction of medium and high-density residential developments and a growing office population in Melbourne’s inner eastern suburbs of Camberwell, Hawthorn and Kew have stimulated the retail precincts throughout the region, including Kew Junction, Glenferrie Road and Camberwell Junction,” he said. 
More than 2,000 apartments are currently in the pipeline throughout Melbourne’s inner-east. 
</div>
</div>
</div>
</div>
</body></html>

jrobinson-rf4aSBido9

Kew's High Street undergoing generational change

<html><body>
The auction house Mossgreen has gone into voluntary external administration. Mossgreen billed itself as one of Australia’s largest auction houses.
The move came December 21 with the appointment of three administrators from accountants BDO, James White, Nicholas Martin and Andrew Sallway. 
<div title="Page 5">
It followed failed fundraising attempts in early December. 
The first meeting of creditors is January 4, 2018. 
It is understood creditors will be told Mossgreen are "restructuring" with no plans to close any outlets or lose staff, and creditors would be paid.
<div title="Page 7">
<div>
<div>
<div>
Westpac is listed as having a registered security interest over the company. 
</div>
</div>
</div>
</div>
<div title="Page 5">
<div>
<div>
<div>
On the eve of the decision, Jack Gringlas of Jadig Investments Pty Ltd is understood to have been advised December 20 given his status as a secured creditor of the company which has showrooms in Melbourne's Armadale, Queen Street, Woollahra in Sydney and Parnell in Auckland.
The Australian Financial Review's Peter Fish reported in August that Mossgreen had parted company with its chairman and major financial backer, Jack Gringlas. 
</div>
<div>One of the recent major contents auction was for the contents in the Macleay Regis penthouse, home of the late esteemed gynaecologist Professor Malcolm Coppleson and his late wife, Patricia, who was Vogue Living’s editor-at-large.</div>
</div>
</div>
</div>
The 172 lots (pictured onsite) included the sale of a $192,200 Ian Fairweather work which had an $80,000 to $120,000 price guidance. A Tim Maguire fetched $117,800.
Mossgreen was known for its single-owner sales, especially since the estate of the late art patron Ann Lewis in 2011, and then an array of objects from much-loved artist Margaret Olley’s Paddington, Sydney home. Its first auction in its Armidale premises in 2013 was the collection of John and Marita McIntosh. McIntosh is a Melbourne establishment stockbroking doyen.
In 2014 there were the contents of Musk Farm, the Stuart Rattle country Victoria estate. Its most recent auction on December 7 was contents of Dr John Sheehy and Jean Sheehy with just 274 of the 438 lots being sold.
It was in late September 2017, that BDO was approached by the company’s accountant, Laura Raymer of CFO Strategic, to provide assistance to the Mossgreen in assessing its financial position.
</div>
<div title="Page 4">
BDO was formally engaged on 26 October 2017 to undertake an independent business review.
A final report was issued to Mossgreen on 8 November 2017 after documentation was provided relating to its financial position and operations.
A December 12 meeting between Mossgreen and BDO got an "update on the company’s financial position including attempted fundraising attempts." It was also attended by David Hall of Allunga Advisory. 
</div>
Paul Sumner has over thirty years experience working in the art and antiques industry with international and Australian auction houses.
Sumner, the son of art and antique dealers, took his first auction at age 17.
He emigrated to Australia in 1987 to commence work with Sydney Auction house Rushton Fine Art and joined Christies Australia in 1990, becoming their Sydney manager in 1992. He was then headhunted by Sotheby’s Australia, and at age 32 became their youngest ever managing director.
Paul held this position until 2001 when he was appointed the Managing Director of Sotheby’s London Auction house at Olympia, London.
He returned to Australia after this contract period to set up a new company Mossgreen with Amanda Swanson.
After nine-years of growth Mossgreen merged with Leski Auctions in 2012. Mossgreen and Leski had a combined turnover in its first financial year of $22 million.
The Mossgreen Melbourne rental premises were sold by Jagid Commercial Pty Ltd mid-year when buyers were advised the annual income was $481,960 per annum with favourable 3.5% rental increases every year, plus the benefit of a mid-term market review in 2020.
The former Armadale Theatre building in High Street, Armadale sold for around $10 million to an investor, John Karkar after a marketing campaign that saw 10 plus offers.
The property, 926-930 High Street,adjoins Armadale train station. It had Mossgreen Tearooms-Melbourne, in partnership with Peter Rowland Catering, which offered one of the finest high tea experiences in Victoria.
The premises had last traded in 2012 for $5.06 million. Previously, the building was occupied by art dealer Sotheby’s. 
CBRE’s Retail Strip Investments team comprising Josh Rutman, Rorey James and Lewis Tong negotiated the sale. 
Rutman said the international marketing campaign appealed to a mix of local and offshore investors.
Rutman noted that "the international marketing campaign appealed to a mix of local and offshore investors who were attracted to the long-term lease, location and confidence in the Mossgreen business." 
“Long-term, secure leases are hard to find in the current market, with many economists taking a ‘lower for longer’ view on investment returns. The fixed annual rental increases will prove highly attractive to prospective investors looking to house their funds in bricks and mortar assets,” Mr Rutman said.
James said the significant capital appreciation - almost $5 million in less than 5 years - in such a short period of time highlighted the lack of blue chip investment properties available in the Melbourne market.
Since the administration was formalised, Paul Sumner advised clients by email that "Mossgreen has chosen to take a path of voluntary administration during the month of January at a time that will least impact our clients and which will allow the company to re-structure its business. "The company is looking forward to a very strong calendar of auction-sales that are contracted and already catalogued for the first half of 2018, starting in February. "No vendors will lose any money in this process and neither will any of our staff, who will also be fully supported through this process."
</body></html>

jchancellor-FAypfDUnLy

Auction house Mossgreen under voluntary external administration

<html><body>
The former Windsor Smith shoe factory on High Street in Melbourne's Preston is being developed into a seven level apartment complex due to be completed in 2019.
One bedroom prices will start from $334,000, with 62 one bedders slated to be built. 
The development will also feature 58 two bedroom apartments priced between $442,000 and $582,000. A display suite at 436 Johnston Street, Abbotsford, is open from 10am to 4 pm daily.
</body></html>

High Street

Editor's Picks

Have something to contribute?

Developments

New apartments

New townhouses

News

High Street

Editor's Picks

Receive the latest news stories to your inbox

Have something to contribute?

Developments

New apartments

New townhouses

News