Roseville is poised for a wave of new apartment development following the NSW Government's rezoning of land around Roseville Station under its Transport Oriented Development program.

The new planning controls have unlocked significant development potential within walking distance of the station, with a number of sites expected to be amalgamated and redeveloped in the coming years as developers seek to take advantage of the increased density allowances.

One of the more restrained developments in the precinct, and set among the first to be delivered having commenced well before the recent changes, is Hyecorp's Juliet. The boutique apartment project is already well under construction and remains on track to welcome residents by the end of the year, offering a markedly different proposition to many of the larger-scale developments now likely to emerge across the suburb.

[smartcode_project:default project_id=7395 project_image_fid=278194]

<a href="https://www.apartments.com.au/new-apartments/juliet-roseville-64-pacific-highway-roseville-nsw-2069">Juliet</a> will comprise just&nbsp;34 one-, two-, and three-bedroom apartments opposite Roseville Station. For Hyecorp, which has delivered projects across Sydney's Lower North Shore for more than three decades, Roseville presented a rare opportunity to address a growing gap in the market.

"<a href="https://www.apartments.com.au/developments/roseville-nsw-2069">Roseville</a> has long been one of the North Shore's most tightly held and desirable suburbs, offering a unique combination of village charm, established greenery, excellent transport connections, and proximity to some of Sydney's best schools and lifestyle amenities," Hyecorp said.

"We recognised a growing demand from local homeowners seeking to downsize without leaving the community they have built their lives around. The location presented a rare opportunity to create homes that cater specifically to that buyer profile."

[smartcode_project:default project_id=7395 project_image_fid=278196]

The six-level development has been designed by <a href="https://www.apartments.com.au/architects/pbd-architects">PBD Architects</a> as a collection of residences that feel more like homes than apartments. The brief centred generous floorplans, abundant natural light, quality finishes, and strong connections to outdoor space.

PBD Architects drew inspiration from Roseville's established garden suburb character, creating a building that sits comfortably within its surroundings rather than dominating them. The architecture incorporates natural materials, soft forms, layered landscaping, expansive balconies, and generous setbacks to strengthen the connection between residents and the suburb's leafy environment.

"The focus was on designing spacious, house-like residences for discerning owner-occupiers and downsizers who wanted to remain on the North Shore without compromising on comfort, privacy, or design," PBD said.&nbsp;

"Every apartment was to feel considered, timeless, and highly functional."

[smartcode_project:default project_id=7395 project_image_fid=278195]

Inside, residences feature engineered timber flooring, stone kitchen benchtops and splashbacks, integrated Fisher &amp; Paykel appliances, ducted air conditioning, and large outdoor entertaining areas designed to take advantage of district and treetop views.

Residents will also have access to a rooftop barbecue and lounge area, alongside practical amenities including parcel lockers, EV charging capability, bicycle storage, a dog wash bay, and a basement car wash facility.

The majority of purchasers so far have been local owner-occupiers from Roseville, Lindfield, Chatswood, Killara, and the broader Upper North Shore, many of whom are transitioning from larger family homes.

"Buyers are looking for spacious, house-like apartments that allow them to downsize without feeling like they are sacrificing comfort or functionality," Hyecorp noted.

"They value large kitchens, generous living areas, ample storage, quality finishes, secure parking, lift access, and low-maintenance living."

[smartcode_project:default project_id=7395 project_image_fid=278204]

Juliet sits directly opposite Roseville Train Station and within walking distance of Roseville Village, while Chatswood's retail and dining precinct is only minutes away. The development is also surrounded by some of Sydney's most established schools, including Roseville College, Ravenswood, Pymble Ladies' College, and Knox Grammar, as well as nearby parklands and golf courses.

Juliet is currently more than 75 per cent sold ahead of its anticipated completion in late 2026.

[smartcode_project_cta:default project_id=7395]

Joel Robinson

Juliet to sit quietly amid Roseville apartment boom

Sherpa Property Group has unveiled the third instalment of its Flourish series, securing full approval for the two-tower, $500 million Flourish Soleira development in Palm Beach.

<a href="https://www.apartments.com.au/new-apartments/flourish-soleira-1150-1154-gold-coast-highway-palm-beach-qld-4221">Flourish Soleira</a> will rise from a prominent site in the commercial heart of Palm Beach, the long-time home of Cash Converters and a range of local retailers.

The project will introduce a new retail and dining precinct at ground level, beneath 286 apartments.

[smartcode_project:default project_id=150017 project_image_fid=370959]

“We’re very committed to not only providing affordable residential offerings that are much needed in Palm Beach, but also delivering a vibrant new commercial heart that complements the extraordinary growth of the southern Gold Coast,” Sherpa Property Group founder Christie Leet said.

The development will sit under Sherpa's Flourish brand, which is aimed at providing a pathway into the beachside suburb for locals, first-home buyers and downsizers. In a move designed to assist first-home buyers entering the market, Sherpa has reserved all one and two-bedroom, one-bathroom apartments exclusively for eligible first-home buyers.

[smartcode_project:default project_id=150017 project_image_fid=370964]

“Our vision through Flourish is to create a vibrant retail and lifestyle focal point within the Palm Beach centre zone, delivering thriving communities underpinned by lifestyle-rich locations,” Leet said.

“So far, Flourish has been an incredible success, and we hope to carry this momentum as we progress the next two Flourish projects in Palm Beach.”

[smartcode_project:default project_id=150017 project_image_fid=371430]

Located across 1150-1164 Gold Coast Highway and 3 Sixth Avenue, the development will comprise two towers. The northern tower will deliver 154 apartments, while the southern tower will add a further 132 residences, helping address ongoing demand for new apartments in the tightly held coastal suburb.

Flourish Soleira will also feature the most extensive rooftop amenity offering ever delivered in Palm Beach.

The two towers will be connected by a skybridge, with residents gaining access to a rooftop recreation deck featuring a full-width swimming pool, hot and cold plunge pools, wellness spaces, a gymnasium, private dining facilities, massage treatment rooms, barbecue areas, a basketball court, golf simulator, indoor and outdoor dining spaces, sun lounges and extensive landscaping.

LPS Group is expected to start construction later this year.

Sherpa is already well advanced on construction of its debut Flourish project, Flourish Amargo, located just around the corner from Soleira. Meanwhile, Flourish Oasis, positioned opposite Amargo, recently commenced construction and has nearly sold out its collection of 47 apartments.

[smartcode_project_cta:default project_id=150017]

Sherpa unveils $500m mixed-use Palm Beach precinct, Flourish Soleira

Are mortgage holders set to get a reprieve from the RBA in 2026?

Big Four bank NAB believes so. They are now expecting the next move from the RBA to be a cut, rather than a hike, which they had pencilled in for August. They are unsure of the timing of the cut however, they note in their latest&nbsp;NAB Economics RBA Watch.

NAB Chief Economist, Dr Sally Auld, said recent data suggests the economy has lost momentum and the outlook for rates has shifted, noting that the broader economic backdrop has changed since earlier in the year.

“The next move in the cash rate is likely to be down, but the timing is uncertain," Dr Auld said.

"In February, growth was above trend, the economy was operating above capacity and there was uncertainty over the restrictiveness of rates. None of these conditions exist today,” she outlined.

Dr Auld said recent data pointed to softer momentum across the economy while acknowledging that at the same time, uncertainty remains a key feature of the outlook.

“Both Q1 GDP data and the NAB business survey suggest momentum in the economy has slowed, meaning that growth has likely peaked for the cycle. That said, we are cognisant there is still considerable uncertainty around the outlook, both with respect to activity and inflation.”

Dr Auld said inflation risks and labour market outcomes would be important to watch.

“On the prices side, we are still forecasting above target core inflation through to mid-2027. Margins will compress and weaker labour market outcomes are a risk.”

She said tighter financial conditions are expected to weigh on housing and activity.

“Tighter financial conditions will be reflected in a slowing in house price growth and housing credit growth. In summary, we have greater conviction that the next move in rates is down, but less conviction on the timing.”

Mortgage relief? NAB forecasts RBA rate cut, not hike, after softer economic conditions

A local downsizer has splashed $6.5 million on a penthouse in Perifa's Alex &amp; Willow development in Crows Nest. 
&nbsp; 
The purchaser sold their long-held family home in the area before embarking on a six-month search for the right apartment. After inspecting a range of options across the Lower North Shore, the buyer returned to <a href="https://www.apartments.com.au/new-apartments/alex-willow-crows-nest-82-90-alexander-street-crows-nest-nsw-2065">Alex &amp; Willow</a>. 
&nbsp; 
The buyer profile reflects the project’s broader purchaser mix. <a>Alex &amp; Willow</a> has attracted predominantly local downsizers looking to transition from larger homes without compromising on space or quality, alongside a smaller cohort of upsizers and investors drawn to the project’s location and design credentials. 
&nbsp; 
The milestone sale comes as the project, developed by&nbsp;<a href="https://www.apartments.com.au/developers/perifa">Perifa</a>&nbsp;and delivered by <a href="https://www.apartments.com.au/builders/versatile-made-construction">Versatile Construction</a>, both part of Versatile Group, reaches 60 per cent sold.

[smartcode_project:default project_id=6680 project_image_fid=371325] 
&nbsp; 
Eddie Mansour, Managing Partner of <a href="https://www.apartments.com.au/project-marketer/ray-white-projects">Ray White Projects</a>, said the result demonstrates not only a headline price but also depth of demand. 
&nbsp; 
“This is an exceptional outcome and a clear reflection of sustained buyer demand for premium, well-located downsizer product,” Mansour said.

“We’re seeing a consistent pattern of local homeowners selling family residences and reinvesting into high-quality apartments that allow them to remain within their community. Alex &amp; Willow has resonated strongly with this group because it offers genuine scale, thoughtful design and immediate proximity to the village.” 
&nbsp; 
The sale reflects a broader and consistent trend of local downsizers actively seeking high-quality, low-maintenance residences close to established village centres. Agents report that demand for this product type has remained resilient, particularly where developments offer a rare combination of scale, design quality and walkable amenity. 
&nbsp;&nbsp; 
Fabrizio Perilli, Managing Director of Perifa and Versatile Group, said the sale marks a defining moment for the project. 
&nbsp; 
“The penthouse sale is a strong endorsement of the quality we have delivered, alongside our partners, and the clear demand from local downsizers for premium, boutique residences in this location,” Perilli said.&nbsp; 
&nbsp; 
“Most importantly, we’re proud to see the Alex &amp; Willow community beginning to take shape. As we move closer to completion, we’re looking forward to welcoming residents and seeing the project come to life.”&nbsp;

[smartcode_project:default project_id=6680 project_image_fid=338516] 
&nbsp; 
Designed by <a href="https://www.apartments.com.au/architects/nettletontribe">Nettleton Tribe</a> with interiors by <a href="https://www.apartments.com.au/interior-designers/richards-stanisich">Richards Stanisich</a>, Alex &amp; Willow is a boutique collection of generously sized two- and three-bedroom residences in the heart of Crows Nest village.&nbsp;

Completion is slated for early 2027.

[smartcode_project_cta:default project_id=6680]

Alex & Willow, Crows Nest penthouse sells off the plan for $6.5 million

Fresh from launching the first stage of its Wollongong precinct, <a href="https://www.apartments.com.au/new-apartments/keira-place-wollongong-120-122-smith-street-wollongong-nsw-2500">Keira Place</a>, builder-developer Urban Property Group has unveiled plans for the next phase of the masterplanned community.

Now on public exhibition through the NSW Government's Housing Delivery Authority pathway is a State Significant Development Application for a further 657 homes on the prominent gateway site opposite Beaton Park.

The proposal comprises three buildings, including two build-to-sell towers rising 25 and 30 storeys, delivering 391 apartments, alongside a 12-storey co-living building with 266 residences, making it one of the largest co-living proposals currently planned in regional New South Wales.

Of the apartments proposed in the build-to-sell towers, the majority, 310, are two-bedroom dwellings. The balance comprises 44 one-bedroom apartments and 37 three-bedroom residences. Apartment sizes range from around 50 sqm for one-bedroom homes to approximately 90 sqm for three-bedroom apartments.

<img alt="Smith St" data-entity-type="file" data-entity-uuid="19347059-1612-41a0-9c74-b86a657237f8" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-06-10%20at%2010.02.18%E2%80%AFAM.png?VersionId=sWXnaCcA.cIC6N8YT1dg5pJ2e1V3Z6z7" />

The submission says the proposal has evolved significantly from its original Housing Delivery Authority application following extensive consultation with the State Design Review Panel and Wollongong City Council.

The final scheme has been designed to align with the emerging vision for the Flinders Street Precinct, an area identified by Council as a future high-density mixed-use neighbourhood capable of accommodating substantial housing growth close to transport, employment and community infrastructure.

According to the design report prepared by COX Architecture, the development aims to "deliver a built outcome consistent with the future character of the Wollongong CBD while responding to the site's unique constraints and opportunities."

"Our vision for the next phase of the site evolution in Wollongong is grounded in three design pillars that guide the design response: place, natural environment and celebration," COX said.

"Inspired by its surroundings and grounded in the stories of place on Wodi Wodi Country, the design proposal acknowledges the established character of its setting while creating a unique and timeless identity that sits harmoniously within it.

"The design proposal responds to its specific site conditions, acknowledging the vegetation, climate, wind conditions and solar access of the site."

The architecture responds directly to the site's position between Wollongong's urban core and its natural landscape setting.

COX identified views towards Mount Keira and the Illawarra Escarpment as defining features of the site, while the upper levels of the towers will also capture expansive views across the city and out to the Pacific Ocean.

The design team has positioned the tallest buildings closer to the rail corridor, where overshadowing impacts can be better managed while establishing a landmark built form on the northern approach into the city.

<img alt="Smith St" data-entity-type="file" data-entity-uuid="79580d5b-500c-4ebf-9629-797146a4a694" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-06-10%20at%209.51.59%E2%80%AFAM.png?VersionId=WbTB1EKSG.KDfsfz0F3wp1QVa2oCMGR5" />

Urban Property Group secured the 11,000 sqm Smith Street site in 2022 and has since progressed plans for the broader Keira Place precinct.

Construction recently commenced on the first stage of Keira Place, which will deliver 150 apartments across two residential buildings, including 27 affordable housing apartments and 18 specialist disability accommodation dwellings, alongside activated ground-floor retail and commercial space.

Urban Co-CEO Patrick Elias said the commencement of construction marked a significant milestone for Wollongong and reflected the developer's long-term commitment to regional cities.

"Today's groundbreaking is about turning approvals into homes and moving quickly to deliver much-needed housing in Wollongong's city centre," Elias said.

"Keira Place will provide a diverse mix of homes close to jobs, transport and services, while setting a high benchmark for quality, durability and consumer protection."

Read more:&nbsp;<a href="https://www.apartments.com.au/news/nsw/groundbreaking-marks-start-of-construction-at-keira-place-in-wollongong-cbd">Groundbreaking marks start of construction at Keira Place in Wollongong CBD</a>

&nbsp;

&nbsp;

&nbsp;

Urban Property Group unveils trio of towers for next stage of new Wollongong precinct, Keira Place

Hotel Industry

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The Spicers Retreats development in Sydney's Potts Point will open its doors in May for a soft launch ahead of the slated June opening.
The property is set in <a href="https://spicersretreats.com/spicers-potts-point/" target="_blank">three Victorian terrace houses</a> dating back to 1873.
Spicers Retreats Owner, Jude Turner, said the property was built as private residences over 100 years ago, and will be transformed into a 20-room, luxury hotel.
“We have been meticulous with the renovations to preserve and restore traditional features of the buildings including the Victorian fireplaces and cornices," she said.
"The new three-storey extension to the buildings and interior insertions are respectful and complementary to the heritage features - which was key to us given the development’s iconic location and rich history.”
“We want to create a Sydney hub that offers guests an opportunity to experience the Spicers difference in an urban environment, with the option to access our regional retreats as part of their stay, or simply unwind and explore the local area during business or leisure travel."
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jonathanchancellor-7SQnKwU6yx

Spicers Retreats expands into Sydney's Potts Point

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Commercial property market sentiment is at a high underscored by the strong performance of CBD hotels, according to NAB’s industry index figures which reached a record level since the survey began in 2010.
NAB’s Commercial Property Index, part of its Commercial Property Survey Q4 2016, rose 5 points to +21 - its highest level since the survey began in early 2010. For the Q4 survey, 250 panellists participated. 
The bank’s chief economist Alan Oster said the jump was largely due to big gains in CBD hotels and small gains in the office sector. 
“While we continue to see an uneven performance across sectors, the performance of CBD hotels has more than offset the lower sentiment that we’re seeing in both retail and industrial markets,” he said.
“Confidence has also wavered in all sectors, except CBD hotels where it rose sharply among very strong expectations for occupancy, capital and revenue per available room (revPar) growth. 
<img src="https://www.urban.com.au/images/2017/02/22/NABCommPropIndex.png" alt="">
<img src="https://www.urban.com.au/images/2017/02/22/NABIndexQ.png" alt="">
Confidence and sentiment was much stronger in New South Wales and Victorian, while Queensland showed some improvement, but WA still very weak, he said. 
The latest survey found that prospects for capital growth in next 1-2 years improved, and are best, for CBD hotels.
Other sectors had scaled back but still growing. Retail is being led by NSW and Victoria, office by NSW and industrial by NSW and Queensland. 
Other findings include the expectation that office property will provide the best income returns in the next 1-2 years, led by very strong growth in NSW. Retail and industrial rents are predicted to grow modestly in all states except WA. 
Overall office vacancy fell a little as a small tightening from very high levels in QLD &amp; SA/NT offset Survey high vacancy in WA and small increases in NSW &amp; VIC (but from low levels). Vacancy in office and industrial markets are set to fall in the next 1-2 years and rise in Retail.
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Commercial property sentiment at highest since 2010: NAB

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Sydney publican Paddy Coughlan has acquired The Botany View Hotel in Newtown for $6.4 million in the latest sign of strong demand for inner city food and beverage pubs.
The BVH, as it is affectionately known, is situated at the southern end of King Street.
It boasts an expansive two-level trading footprint, extended trading hours and a first floor beer garden with a 2am license approval.
CBRE Hotels' Sam Handy and Daniel Dragicevich negotiated the sale on behalf of the Murphy family who have owned and operated the pub for the past 26 years.
The deal marks the third inner west pub acquisition for Mr Coughlan, who recently acquired the Lady Hampshire in Camperdown and the Lord Gladstone in Chippendale. It comes at a time when the private equity backed Riversdale Group, a business that Coughlan founded (and is still an investor in), seeks an exit with the group's assets being sold down for significant premiums.
Coughlan said he'd noticed a real shift in recent years, with many Newtown locals gravitating towards the southern end of King Street.
"The recent acquisition of the Sydney Park Hotel by Ray Reilly and the Queen Victoria Hotel by Justin Hemmes has highlighted this migration trend.”
Mr Coughlan added that he would look to replicate the success that had been achieved at the Lord Gladstone with a revised food and beverage proposition at the Botany View.
CBRE Director Sam Handy noted that the sale follows a spate of bullish food and beverage pub sales within inner Sydney, most of which have been transacted through CBRE Hotels.
These sales include the Winery (Surry Hills), Cargo Bar (Darling Harbour), the Sydney Park Hotel (Newtown) and the Trinity Bar (Surry Hills).
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Paddy Coughlan buys Newtown pub, The Botany View Hotel

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Development work totalling $74 million has begun on the Shellharbour Workers Club south of Sydney to renovate the existing clubhouse and build new facilities which include a hotel and fitness centre.
Design firm The Buchan Group developed the masterplan to guide development over the next 20 years.
<img src="/images/2016/07/20/Screen%20Shot%202016-07-20%20at%202.31.26%20PM.png" alt="">
Slated for development is a childcare centre ($4.7m), hotel ($32m), aquatic and fitness centres ($8m), function centre ($4m), commercial and medical facilities ($10m) and associated multi-deck car parking facilities ($15m).  
Refurbishments to the existing club include a new VIP gaming area, auditorium, billiards and sports bars. 
Buchan implemented a rolling three-year furniture, fittings and equipment audit and refurbishment program for the clubhouse, as well as a 10-year expansion strategy for its gaming, and food and beverage offering.
<img src="/images/2016/07/20/Screen%20Shot%202016-07-20%20at%202.32.27%20PM.png" alt="">
Liam Kelly, senior associate, The Buchan Group said the current program of works, combined with the development masterplan, would ensure the Club met the needs of a rapidly growing population.
“The Shellharbour Workers Club is an institution in the area and a leader in providing club facilities and services to members and guests,” he said.
“It has remained at the forefront of local club culture through a tradition of innovation, forward thinking and a focus on what a club can be to its community. 
“This masterplan and the works that follow will ensure the club continues to be a key provider of leisure, social and entertainment facilities in the region.
<img src="/images/2016/07/20/Screen%20Shot%202016-07-20%20at%202.33.17%20PM.png" alt="">
 “From our perspective, we’ve enjoyed a close and productive working relationship with the club as we have channelled their passion and commitment into a masterplan that provides a solid future for the club and delivers significant new facilities to the local community.
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Buchan masterplan guides Shellharbour Workers Club development

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Following the approval of shareholders, AccorHotels Group will acquire FRHI Hotels &amp; Resorts (FRHI) and its three prestigious luxury hotel brands: Fairmont, Raffles and Swissôtel. 
“Today is a great day for our group.
"It will open up amazing growth prospects, lift our international presence to unprecedented heights, and build value over the long term,” said Sébastien Bazin, Chairman and Chief Executive Officer of AccorHotels.
Joining AccorHotels’ global network is a portfolio of globally admired brands, which includes management of many of the world’s most iconic and historic hotels located in key strategic cities around the world, including: The Savoy in London, Raffles Singapore, Fairmont San Francisco, New York’s The Plaza, Fairmont Le Château Frontenac in Quebec City, and Le Royal Monceau Raffles Paris.
Bazin said by leveraging the operational synergies between FRHI and AccorHotels, they were well-positioned to accelerate the growth of our luxury brands.
The transaction with Qatar Investment Authority (QIA) and Kingdom Holding Company (KHC) of Saudi Arabia provided $840 million (€768 million) cash payment and the issuance of 46.7 million AccorHotels shares in consideration for the contributed FRHI shares.
The transaction gives QIA and KHC respective stakes of 10.4% and 5.8% in Accor’s share capital. Ali Bouzarif and Aziz Aluthman Fakhroo from QIA and Sarmad Zok from KHC will now join AccorHotels’ Board of Directors.
AccorHotels plans to generate approximately €65 million in revenue and cost synergies. Significant enhancements will also be made in terms of customer data, thanks to the integration of FRHI’s customer base that includes three million loyalty members, of which 75 percent are in North America.
The vast majority of Fairmont, Raffles and Swissôtel’s 154 hotels and resorts (of which 40 are under development) and 56,000 rooms spanning 34 countries and five continents are operated under long-term management contracts, with an average term of nearly 30 years; six hotels are leased and one hotel is owned. The Fairmont, Raffles and Swissôtel brands employ more than 45,000 worldwide.
AccorHotels is a world-leading travel and lifestyle group and digital innovator offering unique experiences in more than 4,000 hotels, resorts and residences.
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AccorHotels acquires FRHI hotels

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GUEST OBSERVER
Fears of a hotel glut in Perth are overstated, with more than 50% of the city’s current supply becoming potentially obsolete in the not too distant future and no rush sell-offs.
More than 50% of the current 6,710 existing rooms in the Burswood, Perth and West Perth areas were over 30 years old – and 32% over 40 years old. 
Besides the 48-room Como The Treasury hotel and The Richardson in West Perth, the city hasn’t received a new five-star hotel for some 30 years, however the tide has turned with a surge of development under construction across the city. 
Rather than an oversupply issue, we’re seeing a market shift – with new projects offering a range of high quality accommodation options across the city. This will take Perth in line with the other main capital city markets across the country.
The steady trading of hotels across Perth is also further evidence of the market’s resilience. Hotels are outperforming other sectors of the market, such as office, industrial and residential apartments.”
There has been a lot of speculation of a hotel glut, however, if there was real panic in the air, we would be seeing a sell-off of assets, whereby in reality, there is not one established city hotel for sale.  
Although hotel trading has continued to subside, they are still trading at very profitable levels, with an average daily rate of $200 and occupancies of 80%, which is above the national average.
CBRE’s Q1 Australia Hotel MarketView highlighted record tourist levels in 2015, with an 8% rise in international visitors to post 6.9 million and 7% spike in domestic tourism to 87 million. 
WA, along with NSW and QLD, emerged the top destinations for domestic travellers, accounting for 75% of national visitor nights in 2015.
The weakened Australian dollar is a major attraction for international visitors and also means domestic visitors are being forced to cut back on international travel and holiday locally. This is subsequently assisting occupancy rates across the Perth market.
In a further boost to the domestic hotel sector, the overnight spend on domestic trips increased 6% to $58 billion, while international spend was a record $24.5 billion – reflecting a jump of 20%. 
There are currently 1500 rooms under construction, with five star hotels including the Westin, Intercontinental and Crown at Burswood to complement the recently completed Como The Treasury hotel. 
There were also several demand drivers in play that would boost both existing as well as new hotels in the immediate to long term, such as: 
-   State government initiatives such as Elizabeth Quay, City Link the cultural centre, Cathedral Square and new Burswood Stadium. 
-   Consolidation of domestic and international airports will facilitate passenger movement to the city both by rail and vehicular. 
-   New hotels will attract more visitors by lifting the standard of accommodation, which is desperately needed. 
We will need to endure the economic gloom over the next 18 months, but that provides a prime time to develop. The predication is that Perth will sing in 2020 when government and private development is established and the economy rebounds.
Perth will be a truly international city, which it deserves to be.
The notes/comments are from CBRE Hotels Senior Director David Kennedy’s speech at a recent Perth Hotel and Venue Development seminar.
 
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Fears of a Perth hotel glut overstated: CBRE Hotels' David Kennedy

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Malaysian group Tune Hotels has bought an infill site in Melbourne’s CBD from AMP for $18.5 million.
The 1,741 sqm property stretches between Flinders Street and Flinders Lane.
CBRE’s Josh Rutman, Mark Wizel and Paul Tzamalis negotiated the sale. 
Tune Hotels CEO Mark Lankester said the group was thrilled to make its foray into the Melbourne market. 
“Melbourne is a city that we are very familiar with and the opportunity for the hotel accommodation market, coupled with strong overall visitor growth, ticks all the boxes for us,” he said.
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Malaysia's Tune Hotels buys Melbourne site for $18.5 million

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The ACT-government’s goal of promoting Canberra as an international destination has received a boost with the completion of the Canberra Airport’s first luxury hotel.
The Bates Smart-designed Canberra Vibe Hotel, operated by Toga Far East Hotels, has a  circular form inspired by the geometry of Walter Burley Griffin’s Canberra.
The hotel has 191 rooms, including 12 suites over six levels and nine apartments. Other features include conferencing facilities, a restaurant and bar and lounges. 
The $50 million, 4.5 star hotel is close to the airport terminal and Parliament House and is part of a resurgence of new hotel developments in Australia.
Canberra Airport Group CEO Stephen Byron said the hotel’s completion was a key piece of the puzzle in attracting international flights. 
He said as the only 24-hour airport between Brisbane and Melbourne, Canberra Airport was strategically positioned to expand internationally and expected to draw its first international carrier in 2016.
“This hotel is on a key strategic site of great importance to the future growth of the airport and is why we held a major design competition to arrive at the perfect outcome,” he said.
“In terms of expanding internationally, it is a question of when not if. Our strategy is to connect to a key Asian hub and every day we get closer to that. We expect it to become a reality in 2016.”
Appointed to the project after winning the 2013 design competition, Bates Smart based the design around a dramatic full height circular atrium that draws references from Griffin’s plan for Canberra with its circular and radial geometries.
“We have created a unique destination for travellers to be, one that will attract visitors with its timeless design that combines circular and axial geometries to create a distinctive form, drawn from its context,” Bates Smart director Philip Vivian said.
“A signature space for the hotel is its striking black and white atrium rising above a large-scale ground floor entertaining space catering for intimate gatherings as well as large-scale events.”
Vivian said Bates Smart had a number of hotel projects on the cards, including a new hotel at Barangaroo in collaboration with the UK’s Wilkinson Eyre Architects.
“It’s no secret that new hotel developments have been scarce in recent years due to the expense associated with purchasing sites in Australia,” Vivian said.
“New hotel developments are on the increase and we’ve been looking at a number in the Sydney CBD. The economy here is performing well, stimulating business travel, and the lower dollar is attracting the tourist market. Consequently, hotel occupancy rates are up, stimulating the need for new supply.”
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Bates Smart unveil new Canberra Vibe Hotel, as new build hotel industry gains momentum

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Property developer Sunland Group (ASX ) has acquired the popular 3-star Greenmount Resort in Coolangatta on the Gold Coast's southern beaches for $26 million (plus GST), the company said in a regulatory announcement.
The beachside property adjoining Greenmount Highland was bought as a going concern and the deal is expected to be complete by December this year. It will continue to operate as a resort pending future Council planning approvals, the announcement said.
The resort has 151 rooms and is a stone's throw from the Greenmount and Rainbow Bay beaches. It is also close to Coolangatta's retail and restaurant precincts and is 3.7 km to the Gold Coast airport.
"We see great opportunity on the southern Gold Coast, where the surge in urban renewal and investment is accompanied by a collective understanding that preserving the vibrant village atmosphere of these communities is fundamental to their success," said Sahba Abedian, managing director of Sunland.
“Our vision for this landmark site is to conceive an architectural outcome which complements the existing scale, character and beauty of Coolangatta, while contributing to its ongoing renaissance.”
There has been speculation that a new owner could demolish the old resort and create room to build two or three new buildings, adds the Courier Mail.
Sunland said earlier this year it had spent $40 million in site acquisitions through its first half, while reporting a dip in first-half profit to $3.2 million after taxes.
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Sunland Group buys resort in Coolangatta for $26 million

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The hotel industry was characterised by mixed fortunes in 2015, with the second half continuing the trend from the first, according to Deloitte Access Economics' Tourism and Hotel Market Outlook.
Sydney had the country's highest hotel occupancy at 88%, with a room rate growth of 8.8% annualised for the second half of the year, signalling that room rate growth expected to accompany such lofty occupancies is finally materialising.
Across Australia, room nights sold were up 3.3% from the 2.5% observed over the year to June. National room rates growth similarly accelerated over the second half of the year.
Fortunes were mixed across the major markets, with key outlook highlights:
- While rates in Melbourne grew 4.5% for the year, 93% occupancies in November were a record for the city
- Hobart, a market an eighth the size of Melbourne by turnover, recorded the same feat in the same month
- Queensland’s beaches posted the biggest gains in occupancy, with the Gold Coast and Tropical North Queensland recording increases of 3.0% and 4.8% respectively from a year earlier, although the latter was due to some properties being taken out of service for renovation
- Mining hubs lagged as supply increases combined with softening demand to drag both occupancy and room rates lower in Brisbane, Perth and, especially, Darwin
- Brisbane hoteliers, who had a good run during the G20 meeting at the end of 2014 with room rates at record highs, struggled to see growth for most of 2015
- Despite significant supply increases, the Darwin market effectively contracted 8.4% over 2015, as measured by total takings
- Canberra was the quiet achiever, where additions to supply masked 10% growth in room nights sold.
Hotel market outlook
Looking forward, 64 properties are due online before the end of 2018 across the nine major hotel markets analysed in the outlook. This represents a significant increase in the supply pipeline from Deloitte's August 2015 report, with the new room count up 12% in likelihood adjusted terms. Another 30 projects are mooted for regional hotel markets, although many are in the 50-room category.
Activity is not limited to additions in supply, with transaction volumes well up on previous years. Sixty-two existing hotel sales were recorded in 2015, with an aggregate value of AU$3.77bn, AU$1.2bn more than 2014.
Key Outlook forecast points, include:
- 8,650 rooms are expected to be added to the nation’s major hotel markets, and a further 3,900 in other regional markets, over the next two-and-a-half years, pushing supply higher at an average annual pace of 1.7%
- The supply growth outlook is led by Perth, with likelihood-adjusted expectations of an additional 1,900 rooms by the end of 2018
- Hobart has nine properties in the pipeline, and will undergo its own small boom in hotel construction, with room nights available increasing at 5.6% per year
- Over the next three years, supply growth is expected to be healthy, but more moderate, in Brisbane (4.1% per year) and Adelaide (4.0% per year)
- In Sydney and Melbourne, where 90% average occupancy is in sight, supply is still forecast to trail demand despite a number of high profile projects coming onto the market over the next three years
- Of any market, the relative growth prospects have improved most for Canberra given its hotel stock upgrades and refurbishments, and the expected arrival of direct international flights from Singapore and Wellington
- The projected national performance outlook remains one of demand growth (3% per year) outstripping supply growth (1.6%) and occupancies forecast to climb 2 percentage points to just above 71% by December 2018.
“The range of forecast performance across markets is widening as the sector’s growth drivers shift. With corporate travel following the nation’s economic transition back to the south east, so too is short stay accommodation demand, in turn putting further pressure on the already stretched Melbourne and, particularly, Sydney markets," Deloitte Access Economics partner Lachlan Smirl said.
“At the same time, a resurgent domestic leisure segment is buoying demand for holiday hot spots from Tasmania to Queensland’s beaches and emerging Asia continues to propel markets successful in luring these high growth segments."
The Gold Coast is projected to post the largest occupancy gains leading up to the 126,000 visitors expected for the Commonwealth Games in April 2018.
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