Developers and apartment buyers have a narrowing window of opportunity before Brisbane's Olympic infrastructure pipeline begins competing directly with residential construction, pushing up costs, tightening labour supply and making new projects increasingly difficult to deliver.

While Brisbane's apartment market continues to benefit from strong population growth and limited housing supply, industry research suggests the years leading up to 2027 could prove to be the most important period for developers looking to secure builders and buyers hoping to purchase before the next wave of price increases.

A new Colliers report, Brisbane 2032 Olympic and Paralympic Games: Creating Solutions, highlights the scale of the challenge. While thousands of new homes are planned across South East Queensland, the Brisbane Olympic Athletes Village alone will deliver more than 10,500 beds during the Games before being converted into around 1,750 to 2,000 apartments. Equivalent to almost two years of typical inner-city apartment supply, the project will also absorb a significant share of the construction workforce and building materials.

The broader construction pipeline paints an even clearer picture.

Construction Skills Queensland's Horizon 2032 report forecasts Queensland's annual construction pipeline will average $69 billion over the coming years before peaking at $75 billion in 2027-28. Demand for construction workers is expected to increase by 17 per cent to almost 150,000 people, with the industry facing an annual shortfall of around 19,000 workers that could blow out to as many as 35,000 during the peak construction period.

The Olympic venues, athletes village and supporting infrastructure will account for billions of dollars worth of work across South East Queensland through to 2032, creating intense competition for labour at a time when Australia's residential construction sector is already under pressure.

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Colliers Queensland Residential Director Andrew Scriven said the convergence of these projects is creating a clear window of opportunity for both developers and buyers.

"From 2027 onwards, the market will shift dramatically," Scriven said.

"Labour will increasingly be locked into government-led infrastructure and Olympic projects, which means private residential developments will face higher costs and tighter margins. The developers who move now are the ones most likely to get projects off the ground."

Scriven said the same dynamic would also affect buyers, with fewer apartment projects expected to launch once construction capacity tightens.

"If you're looking to change your lifestyle over the next five years, now is your window of opportunity to buy."

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Developers are already positioning themselves ahead of that window.

Following the success of Monarch at Toowong, Consolidated Properties is preparing to launch two new Brisbane apartment projects in the second half of 2026. They include <a href="https://www.apartments.com.au/new-apartments/gloriette-30-bedivere-street-yeerongpilly-qld-4105">Gloriette</a> at Yeerongpilly Green, a 25-storey tower within one of Brisbane's key Olympic precincts, and <a href="https://www.apartments.com.au/new-apartments/castile-47-skyring-terrace-newstead-qld-4006">Castile</a>, a recently approved 25-storey riverfront development at 47 Skyring Terrace in Newstead.

Hutchinson Builders will deliver both projects, with early works already underway at Yeerongpilly and Newstead expected to commence later this year.

The timing comes as Brisbane's fundamentals continue to strengthen, with strong interstate migration, population growth and vacancy rates remaining below 1.5 per cent.

Colliers Queensland researcher Pragya Sharma said Greater Brisbane is forecast to require around 40,000 new apartments between 2021 and 2031.

"There's a real mismatch emerging between when housing is needed and when it will be feasible to build," Sharma said.

"As a result, the period leading up to 2027 presents a key window of opportunity for developers to secure approvals, funding and construction capacity, while buyers will have greater choice before supply constraints intensify."

Colliers research outlines a critical pre-2027 window to start residential projects before labour squeeze: now is the time to buy

Joel Robinson

Developers, buyers on watch in South East Queensland ahead of construction crunch: Colliers

It's taken less than nine months for developer Sherpa Property Group to sell out all 51 apartments in its <a href="https://www.apartments.com.au/new-apartments/flourish-oasis-palm-beach-7-9-sixth-avenue-palm-beach-qld-4221">Flourish Oasis</a> development in <a href="https://www.apartments.com.au/developments/palm-beach-qld-4221">Palm Beach</a>, over a year before its anticipated completion.

&nbsp;

Located at 7-9 Sixth Avenue, the $67 million development has resonated strongly with both local owner-occupiers and downsizers seeking high-quality apartments within walking distance of the beach, dining precincts and everyday amenities.

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Christie Leet, Founder of <a href="https://www.apartments.com.au/developers/sherpa-property-group">Sherpa Group</a>, said the sell-out reflected both the strength of the Palm Beach market and the success of Sherpa's community-first approach to development.

"The sell-out of Oasis is a fantastic outcome and reinforces the strong demand we're seeing for thoughtfully designed apartments in lifestyle locations," Leet said.

"From the outset, our vision was to create a development that genuinely enhanced the Palm Beach community while providing residents with exceptional homes and wellness-focused amenities.

"We've been incredibly encouraged by the level of local support throughout the campaign, 72.5 per cent of buyers are locals, with a significant proportion of purchasers choosing Oasis as their future home rather than an investment."

[smartcode_project:default project_id=151449 project_image_fid=357463]

Construction is now progressing following development approval, with trusted builder LPS Group delivering the project and completion anticipated in Q3 2027.

Oasis forms part of Sherpa Group's successful Flourish collection, which has become recognised for its focus on wellness, community and elevated coastal living.

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Residents will have private access to a rooftop amenity space featuring a pool, gym, sauna, steam room, hot and cold plunge pools, spa and barbecue facilities.

"The success of Oasis demonstrates that buyers continue to prioritise quality, location and lifestyle," Leet said.

"We are proud to have delivered a project that has resonated so strongly with the market and look forward to bringing Oasis to life for our future residents."

Sherpa recently launched <a href="https://www.apartments.com.au/new-apartments/flourish-soleira-palm-beach-1150-1160-gold-coast-highway-palm-beach-qld-4221">Flourish Soleira</a>, its third instalment of the Flourish brand in Palm Beach following Flourish Oasis and <a href="https://www.apartments.com.au/new-apartments/amargo-6-12-sixth-avenue-palm-beach-qld-4221">Flourish Amargo</a>.

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Sherpa sells out Flourish Oasis in booming Palm Beach

Urban Property Group's <a href="https://www.apartments.com.au/new-apartments/la-vera-macquarie-park-94-talavera-road-macquarie-park-nsw-2113">La Vera</a> is leading the next phase of Macquarie Park's residential evolution, with the new apartment development set to become the first of several new apartment projects in the precinct to complete.

The 169-apartment building has now topped out ahead of its scheduled completion in the third quarter of 2026, as new residential investment continues to reshape one of Sydney's largest employment hubs into a true mixed-use precinct.

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Cox Architecture has designed La Vera to capture the best of its unique positioning on Talavera Road, orienting the building towards Lane Cove National Park.&nbsp;The building features a sculpted northern façade with flowing curves inspired by the surrounding landscape, while its city-facing elevation adopts a more structured architectural expression to maximise skyline views.

"The vision for the project was to conceive a building that adopted an organic and curvilinear form to the northern portion that faces the Lane Cove National Park," <a href="https://www.apartments.com.au/architects/cox-architecture">Cox Architecture</a> Director Felipe Miranda said.

"The residents that reside in the northern portion of the building benefit by having beautifully crafted curved balconies that speak to the natural context and heighten the relationship of their internal living spaces to the external balconies."

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La Vera offers a diverse mix of one, two, three, and four-bedroom configurations, with prices currently starting from $740,000. Buyers so far have been a mix of Sydney-based investors,&nbsp;metro commuters, owner-occupiers and downsizers from surrounding North Shore suburbs.

Both investors and owner-occupiers have been drawn to La Vera's proximity to Macquarie University, Macquarie University Hospital, Macquarie Centre and the Sydney Metro, infrastructure that supports both strong rental demand and a convenient lifestyle for residents.

The apartments feature full-height glazing, timber flooring throughout living areas, stone kitchen benchtops, SMEG appliances, floor-to-ceiling bathroom tiling and ducted air conditioning.

Residents will have access to a rooftop recreation level featuring a swimming pool, sauna, barbecue facilities and landscaped relaxation areas, complemented by additional communal space at ground level. Many apartments enjoy uninterrupted views across Lane Cove National Park, reinforcing the project's connection to its natural setting.

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<a href="https://www.apartments.com.au/developers/urban-property-group">Urban Property Group</a>, a family-owned developer and builder with nearly four decades of experience, holds a 4.5-star iCIRT rating and was Australia's first developer to introduce 10-Year Latent Defects Insurance (LDI). La Vera is the first apartment development in <a href="https://www.apartments.com.au/developments/macquarie-park-nsw-2113">Macquarie Park</a> approved to offer the additional insurance protection, alongside a five-year warranty on SMEG appliances.

Urban Property Group CEO Patrick Elias said the additional protection reflects changing buyer expectations in the off the plan market.

"Consumers are a lot more weary and a lot more concerned in buying off the plan than they ever have been. Having LDI is a tool to portray the confidence that we have in our product, and a confidence we want buyers to share," Elias said.

Following completion of the building later this year, buyers will move into their apartments well before Christmas.

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La Vera closes in on completion as Macquarie Park continues residential transformation

Brisbane developer Red &amp; Co's decision to include dual key apartments in its debut Gold Coast apartment development, <a href="https://www.apartments.com.au/new-apartments/como-varsity-lakes-22-lake-street-varsity-lakes-qld-4227">COMO Varsity Lakes</a>, is proving to be one of the project's biggest drawcards, with buyers quickly snapping up the flexible residences.

More than half of the project's 36 dual key apartments have already sold, helping drive COMO beyond the 50 per cent sold mark within the first month of launch.

The strong response highlights growing demand for apartment designs that can adapt to changing lifestyles, with buyers increasingly looking for homes that accommodate multi-generational living, provide rental income opportunities or simply offer greater flexibility over time.

Located on the shores of Lake Orr, COMO will deliver 156 apartments across 16 levels, with the dual-key residences forming a limited release within the broader development.

Each combines a primary two-bedroom apartment with a fully self-contained studio on a single title, connected by a shared foyer and lockable internal door. The design allows owners to house ageing parents, adult children or guests while maintaining privacy, or lease the secondary residence to generate additional income.

Just 17 of the original 36 dual key apartments remain available.

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The innovative configuration combines two fully self-contained residences on a single title, typically comprising a primary two-bedroom apartment alongside a separate studio residence, connected via a shared foyer and lockable internal door.&nbsp;

The model is proving particularly attractive to owner occupiers navigating changing family dynamics and the realities of the current housing crisis.&nbsp;

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<a href="https://www.apartments.com.au/project-marketer/npa">NPA</a>&nbsp;CEO Andrew Erwin said dual key living was resonating strongly with modern buyers because it delivered both financial flexibility and practical lifestyle benefits.&nbsp;

“The housing crisis and rising cost of living are fundamentally changing how Australians think about home ownership,” Erwin said.&nbsp;

“Dual key apartments provide a genuine solution for families who want to stay connected while maintaining independence. Parents can help adult children save for a future home, ageing parents can remain nearby without moving into aged care, and owners still retain privacy and flexibility.

“Importantly, buyers are also recognising the financial advantages. It creates the opportunity to generate additional income from part of the home without the holding costs associated with owning a separate investment property.”&nbsp;

[smartcode_project:default project_id=135546 project_image_fid=363509]

Unlike traditional dual occupancy arrangements, the residences operate under a single title, meaning owners only incur one set of body corporate fees, council rates and holding costs.&nbsp;

The secondary residence can also evolve over time - functioning as guest accommodation, a home office, creative studio or private retreat before later becoming an income-producing asset.

<a href="https://www.apartments.com.au/developers/red-co">Red &amp; Co</a>&nbsp;Director and Co-Founder David Laverty said the strong early sales reflected growing buyer urgency and changing priorities within the market.&nbsp;

“Securing more than half of COMO’s residences within such a short timeframe is an outstanding result and a clear endorsement of both the design and location,” Laverty said.&nbsp;

“Buyers are responding to the combination of location, connectivity and amenity, but ultimately it’s value relative to other East Coast markets that is driving enquiry.”&nbsp;

“We’re also seeing strong interest from owner occupiers looking for homes that can adapt with them over time. Flexibility has become one of the most important considerations for buyers in today’s market.”&nbsp;

[smartcode_project:default project_id=135546 project_image_fid=363515]

Designed by <a href="https://www.apartments.com.au/architects/bda-architecture">BDA Architecture</a>, COMO features a mix of one-, two- and three-bedroom residences with 2.7-metre ceilings and larger-format floorplans aimed at owner occupiers, downsizers and lifestyle-focused buyers.&nbsp;

The development will feature an extensive rooftop recreation and wellness offering including a 25-metre lap pool, sundeck, barbecue and dining areas, gym, sauna, plunge baths, landscaped gardens, wellness spaces and rooftop pickleball and paddleball courts.

The remaining dual key apartments range from 137 sqm to 167 sqm and include generous three-bedroom layouts with separate self-contained studio accommodation and dual parking.&nbsp;

Erwin said the dual key concept represented a broader shift in how Australians would live in the future.

“People want homes that can evolve with their lives,” he said.&nbsp;

“A dual key apartment can suit a family today, support an ageing parent tomorrow, and potentially generate income later on. That adaptability is becoming incredibly valuable in the current environment.”

Prices currently range from $2,115,750 to $2,583,000.&nbsp;

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Inter-generational living drives demand for COMO’s dual key apartments as housing pressures reshape buyer priorities 

Builder-developer&nbsp;<a href="https://www.apartments.com.au/developers/ceerose">Ceerose</a> has doubled down on its Leichhardt ambitions, lodging its second State Significant Development Application (SSDA) in the suburb in the last six months.

Their newest proposal seeks to transform a former industrial precinct into a new residential community centred around the adaptive reuse of one of the site's heritage warehouse buildings.

The new project, on a 6,930 sqm block at&nbsp;<a href="https://www.apartments.com.au/new-apartments/40-76-william-street-leichhardt-nsw-2040">40–76 William Street</a>, will bring more than 200 apartments to a suburb that has seen little to no new supply in recent years. It follows Ceerose's late 2025 SSDA for a mixed-use apartment project on nearby Parramatta Road, signalling the developer's growing investment in Sydney's Inner West.

Ceerose Founder Edward Doueihi told Apartments.com.au the developer’s long-standing presence in Leichhardt and the Inner West had given it a strong understanding of how the area has evolved and where its future opportunities lie.

“Ceerose has had a long-standing presence in Leichhardt and the Inner West, giving us a unique understanding of the area’s evolution and future potential,” Doueihi said.

“Having delivered projects throughout the region, we have witnessed the suburb’s transformation first-hand and understand the opportunities for its continued growth.”

Doueihi said that understanding also informed the planning process, with a comprehensive Stakeholder Engagement Outcomes Report prepared before the application was lodged.

The report identified the key issues and concerns raised by neighbouring residents and other stakeholders, allowing those matters to be considered and incorporated into the design where appropriate.

He said the delivery of additional housing would also play an important role in supporting the revitalisation of Norton Street and the Italian Forum.

“By increasing the local residential population, the development is expected to strengthen demand for local businesses, encourage further investment, and help restore the vibrancy that made the precinct a thriving destination in the early 2000s.”

<img alt="First look: Ceerose returns to Leichhardt with 203-apartment adaptive reuse proposal at former warehouse site" data-entity-type="file" data-entity-uuid="7258c54c-8167-479e-8361-2d5fca9915b4" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Appendix%2010B%20-%20CGI%20-%20View%202.jpg?VersionId=S9DQfxu_jpcB5LrAEYFUbyMzg5odW6i5" />

Designed by <a href="https://www.apartments.com.au/architects/woods-bagot">Woods Bagot</a>, the redevelopment would involve the demolition of four existing industrial buildings while retaining and adaptively reusing the site's most significant warehouse. The retained structure would anchor a new residential precinct comprising five interconnected buildings arranged around a large central landscaped courtyard, with heights stepping from five storeys along the surrounding residential streets to 11 storeys at the William Street corner.

According to the Architecture Design Report by Woods Bagot, the proposal "seeks to create a residential village centred around a generous green heart while celebrating the site's industrial heritage through the adaptive reuse of the existing warehouse building."

The development would comprise 203 apartments, with 188 proposed as build-to-sell residences, alongside 15 affordable housing apartments.

Rather than treating the retained warehouse as a standalone heritage object, Woods Bagot has sought to weave the site's industrial history throughout the masterplan. The proposal retains the north and west facades of the landmark corner warehouse, while new buildings reinterpret the site's brick-and-steel industrial language through their material palette and architectural expression.

<img alt="First look: Ceerose returns to Leichhardt with 203-apartment adaptive reuse proposal at former warehouse site" data-entity-type="file" data-entity-uuid="9e8c64c2-881b-49e1-8c90-6b6acaaa45b6" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Appendix%2010C%20-%20CGI%20-%20View%203.jpg?VersionId=Qm8_8H_Xrg_sc4Mdjc59vlAcKF_5wRTb" />

The design is organised around what Woods Bagot describes as a "green heart", a landscaped communal open space that reinstates the leafy character removed when the site became an industrial storage facility. A new pedestrian laneway running through the site would improve permeability between William, North and Francis streets, linking residents through landscaped public spaces while activating the ground plane.

Residents would have access to communal gardens and shared recreation areas distributed throughout the development. Sustainability has also been prioritised, with the project targeting an average 7.9-star NatHERS rating. Proposed initiatives include rooftop solar generation, rainwater harvesting, passive solar design, naturally ventilated lobbies, extensive cross-ventilation and the reuse of existing building fabric to reduce embodied carbon.

The adaptive reuse strategy became a defining feature of the application after heritage investigations found only one of the site's industrial buildings could feasibly be retained. The Heritage Impact Statement concludes that preserving the key warehouse façades while referencing the site's industrial character throughout the new development provides an appropriate balance between renewal and conservation.

<img alt="First look: Ceerose returns to Leichhardt with 203-apartment adaptive reuse proposal at former warehouse site" data-entity-type="file" data-entity-uuid="efffafdb-594f-4e2b-a067-921fd51c05e1" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Appendix%2010D%20-%20CGI%20-%20View%204.jpg?VersionId=DPmE4.k16YRt0i27hEZVtJAffarpvUfx" />

"Retention and adaptation of the site buildings has been explored but found not to be feasible except for the tallest building, whose street facades will be retained," the heritage report states.

"The proposed building will interpret the brick and steel character of the subject site, including reuse of some components and construction of a large 'sawtooth' structure in the proposed open space."

<img alt="First look: Ceerose returns to Leichhardt with 203-apartment adaptive reuse proposal at former warehouse site" data-entity-type="file" data-entity-uuid="3bfef2b5-83f5-40cd-9cab-767092f34266" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Appendix%2010E%20-%20CGI%20-%20View%205.jpg?VersionId=7asb3i_ql4ybbuJOUb5UHBEIy0Q9t.DF" />

The William Street site is located around 300 metres from Leichhardt North Light Rail station and a short walk to Norton Street's retail, dining and hospitality precinct. The surrounding area has increasingly become a focus for urban renewal given its proximity to public transport and the Parramatta Road corridor.

Doueihi founded Ceerose in 1998 and has grown the business to become one of Sydney's more active apartment developers in recent years, with completed projects including The Alex Collective in Alexandria, Abbie's Lane in Annandale, and the award-winning Munro House in Elizabeth Bay. They are currently delivering Belgravia, 17 luxury apartments in Potts Point.

First look: Ceerose doubles down in Leichhardt with adaptive reuse of former warehouse site

Hotel Sale

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The Ryan family have sold the Republic Hotel on the corner of Pitt and Bridge streets in Sydney's CBD to international property fund in an off-market deal.
The deal was settled for an undisclosed sum through Ray White's Andrew Jolliffe.
It comes on the heels of another high-profile pub sale. The Justin Hemmes-led Merivale recently snapped up Vic on the Park Hotel in Sydney's Inner West in a deal estimated to be between $22 million to $25 million.
Republic Hotel recently underwent a multi-million dollar upgrade, including the introduction of a rooftop bar.
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The deal, concluded this week, sees the well-known hotelier Patrick Ryan enter into an agreement to lease back the business operation of the asset after 17 years of ownership of the four-storey hotel. 
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Jolliffe, who would not be drawn on price, or the identity of the purchaser, believes there is strong interest in AAA Grade property in top Australian cities. 
"Sydney is enjoying a demonstrable surge in infrastructure investment, and astute investors right throughout our Asia Pacific database have highlighted this point,” he said.
"We have averaged an exit yield of approximately 8% for our clients when considering our last 20 transactions this year, and accordingly restate our view that the considered argument for further yield compression remains likely.” 
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jonathanchancellor-7SQnKwU6yx

The Ryan family sell Republic Hotel in Sydney CBD to global property fund  

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Melbourne’s former Duke of York Hotel at Prahran, renamed The Smith after renovation by the owners including Lucy Liu, has been listed for auction with expectations of a $9.5 million plus price tag.
The Smith at <a href="https://www.realcommercial.com.au/property-retail-vic-prahran-502562654" target="_blank">213 to 219 High Street</a> recently reopened following a multi-million dollar renovation, expanding into the building next door and doubling the size of the venue to 1,045 sqm. 
The upgrade includes a retractable glass roof that creates a closed piazza style atrium, a 120-seat dining and bar area and a first floor function room.
The property current earns a net annual rental of $520,000 and will be sold subject to a new 10-year lease with two further ten-year options.
The asset is being marketed by Teska Carson’s Michael Taylor and Michael Ludski.
The auction is scheduled for October 20.
In occupation for the past seven years, the lessees are celebrated Melbourne restaurateurs Michael Lambie and Scott Borg of Lucy Liu, Taxi Dining Room, Lamaro’s and Circa fame, and business partner and current The Smith executive chef, Brad Simpson. 
The business operates a general 3 am liquor licence for 307 patrons.
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Listing agent Taylor said the corner (Clifton Street) location would attract both investors and developers due to its commercial 1 zoning and with potential for a high rise residential development.
“The Smith ticks all the boxes for a solid investment with a secure lease to very successful tenants in an unrivalled location, but it also offers an exceptional landbank opportunity should the buyer wish to pursue future development options down the track,” said Taylor.
“Prahran has been and will continue to be a strong property performer as Melbourne’s population grows over the next 20 years and more, and the demand for apartments grows with it.’’ 
According to Ludski, it is the entertainment element that has been a key driver of property values in Prahran in recent times.
 “Put simply, ‘The Smith Prahran’ is an anchor hospitality destination situated within the epicentre of Melbourne’s hottest entertainment precinct,” he added.
 
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Melbourne's former Duke of York Hotel on the block with $9.5 million price tag

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The Allawah Hotel in Sydney's southwest has been sold for about $30 million in private equity style transaction through Ray White Hotels. 
It is believed, but unconfirmed, that White &amp; Partners, the private investment vehicle of Australia's most famous real estate family, has secured the Allawah Hotel.
The hotel is ranked 140 in NSW’s latest Top 200 gaming rankings.
Its sale brings the total number of A-grade freehold hotels sold in Sydney in the past 18 months to 25, selling agent Andrew Jolliffe of Ray White saying he was confident of further market strength given the underlying fundamentals for the sector. 
The Allawah Hotel was sold in an off-market transaction.
It is situated on a 1,274 sqm corner site and close to the Allawah Train Station.
The vendors, parties associated with the Feros family JDA hotels, had owned the property since 2007. It is understood that JDA hotels have retained an ownership percentage and entered into a management agreement with the new purchasing entity. 
"This is uncontroversially a very strong A Grade gaming hotel sale, and consequently is indicative of a transaction which required a different approach than that typically deployed,” said Ray White’s Andrew Jolliffe, who brokered the deal.
The sale was a combination of a “hard asset changing hands, a significant equity refresh event and the implementation of a Management Agreement,” added Jolliffe, saying such deals will will enjoy currency in the future.
Speaking on behalf of JDA hotels, founder John Feros agreed that the private equity style deal structure was something his group had done in the past. 
"We had owned the Allawah Hotel for over a decade and decided the time was right to recalibrate the capital stack" advised Feros. 
"Suffice to say, we're very happy with the deal that has been concluded, and look forward to working with our new investor group to reposition the property so as to seek new value accretion opportunities.”  
Joliffe’s recent sales include the Coolibah Hotel 40 million, and the Tennyson Hotel which was sold to the Justin Hemmes-led Merivale group for $37.05 million.
Both are ranked in the top 60 in the state.
The Ray White Group said it recorded its biggest ever year with $44.7 billion in sales in 2016-17, up four per cent on the previous fiscal year.
 
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Southwest Sydney hotel changes hands for about $30 million 

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Royce Hotel, that originated out of Melbourne's first Rolls-Royce prestige car dealership, has been listed with expectations of more than $60 million.
The 100-room Royce Hotel on St Kilda Road on the city fringe along with a four-level office building are being offered for sale by its Melbourne private owners and operators, the Bursztyn family.
The hotel’s 1920s art deco facade is a reminder of its origins as Melbourne's first Rolls-Royce prestige car dealership. 
They have been owned by the Bursztyn family since 2000. The family developed the hotel out of the old car showroom, retaining many of its heritage elements including its chandeliers, leadlight windows and ornate ceilings, according to The Australian Financial Review.
The office building includes a permit for another 67 hotel rooms.
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The five-star hotel has 100 guest rooms and suites,besides the award-winning dish Restaurant, the amberoom bar, conferencing and event facilities, a gymnasium and 25 undercover car spaces.
The listing agents are Dan McVay and Sam McVay of McVay Real Estate Australia, a boutique commercial real estate agency that focuses purely on the sale of major assets. 
The hotel is being marketed via an international expressions of interest campaign.
"The Royce Hotel has been privately managed as a standalone hotel since its opening in 2000 and now provides the opportunity to introduce branded hotel management to further improve both the sales distribution networks as well as creating cost efficiencies," Dan McVay was cited as saying by the AFR.
"A number of the hotel rooms used to be car service bays.” 
He added that the potential to add another 67 rooms was an added enticement with a 100-room hotel "right on the edge" of the scale buyers sought. "Every extra room added will go straight to the bottom line," he said.
The site area is 2,164 sqm. 
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Melbourne’s Royce Hotel listed with $60 million hopes

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The first hotel on sale under NSW's new 75 percent strata renewal rule is Sydney's Seasons Harbour Plaza hotel in Darling Harbour.
The new legislation came into force in November and forces strata unit owners to sell if 75 percent agree.
An AFR report noted most of the strata asset's owners – more than 90 – have agreed to sell the 119-room hotel at 252 Sussex Street in one line for a price of about $70 million.
Gus Moors , Colliers International's head of hotels, said in one of the most tightly held markets in the country, the sale of Seasons Harbour Plaza Sydney represents an incredibly rare opportunity to secure a hotel asset with immense opportunity.
The hotel is 446 sqm, 19-floor hotel and has rooms ranging from a 30 sqm studio to a 157 sqm loft penthouse. It is leased to the Seasons Apartment Hotel Group. 
The hotel's recent room sales have been sparse. Room 803 sold in 2015 for $625,000.
It originally sold for $305,000 in 1997.
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j.ballantyne1990-6AQqhLzZaK

First hotel on sale under NSW's new 75 percent strata renewal rule

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The Moelis-owned Redcape Hotel Group has sold the All Seasons Bendigo, a four-star hotel, for about $24 million to a private investor.
The 77-room hotel was listed in March, ahead of a Moelis Australia managed fund snapping up Redcape’s 25 pubs in a $677 million deal.
The four-star hotel on McIvor Highway, east of the Bendigo CBD, was Redcape's sole Victorian property and a legacy asset from the failed Hedley Leisure Group, the predecessor to Redcape, The Australian Financial Review reported.
Apart from the 77 rooms, the hotel offers multiple conference, wedding and function centre facilities, 100 gaming machines, bar and dining areas and extensive guest amenities. 
The selling agents were Mathew George and John Musca of JLL Hotels &amp; Hospitality Group.
All Seasons currently has a net annual rental income of $1.56 million. Going by the deal value, the yield works out to 6.5 per cent. 
The lease is in place until 2052 to private hotelier (Jeanine Cook of Hedz Hotels) with fixed 3.75 per cent annual rental increases included.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/08/10/Bendigo2.jpg" alt="">
"The strength of the tenant's business coupled with the highly desirable land-bank of 3.5 hectares presented a compelling property for astute investors," George said.
The sale set a new record for a privately-tenanted hotel investment in the region, according to Musca. 
The buyer – listed on the title deed as David Feldman – will add the All Seasons Hotel to a portfolio of privately-tenanted investment hotels, the AFR said.
The All Seasons was something of an anomaly for Redcape sitting alongside 25 pubs in NSW and Queensland that Moelis Australia now intends to float in the next 12 to 18 months.
Its portfolio includes some of Sydney's best pubs, including the El Cortez Hotel in Canley Heights, Minsky's Hotel in Cremorne, the Willoughby Hotel in Willoughby North and the Eastwood Hotel in the Eastern suburbs.
Regional deals
In more regional hospitality industry deals, Jaz Mooney's Pelathon Management Group has sold off Orana Hotel in the Lake Macquarie suburb of Blacksmiths in NSW for $4.2 million.
The pub, which recently underwent a makeover, has a TAB, gaming lounge and beer garden on a 2307 sqm site.
It was bought by a local publican, according to the AFR.
Pelathon bought the property last year from bankruptcy trustee BRI Ferrier, acting for the estate of long-time owner Malcolm Downie.
The selling agents were CBRE's Daniel Dragicevich and Ben McDonald.
In Wagga Wagga, the Home Hotel at 142 Fitzmaurice Street changed hands for $2.7 million.
The sale includes a commercial building next door that has a commercial kitchen on two blocks totalling 1827 sqm.
The pub has a front bar, a TAB and gaming room, a band room and function rooms. There is a Chinese restaurant sub-lease on site.
The selling agents were Ray White's Blake Edwards and Xavier Plunkett.
Meanwhile, a pub and retail property on the Gold Coast has fetched $4.55 million at auction.
The Merrimac Tavern, at 10-16 Merrilaine Crescent, is a 3,548 sqm property.
The property returns a net annual income of $347,629, anchored by three leases until 2026 with options.
Ray White's Michael Willems sold the property for a private owner.
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Redcape's All Seasons Bendigo hotel sells for $24 million amid flurry of regional deals

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Leading listed hotel operator Mantra Group has bought the Deague family's Art Series hotel portfolio for $52.5 million.
The Art Series Hotel Group comprises a portfolio of seven luxury 4 – 5 Star unique hotels in Australian capital cities with more than 1,000 hotel suites, Mantra Group said in an ASX announcement.
Each hotel is inspired by a well-known Australian artist and includes Melbourne's well known suburban hotels such as The Cullen in Prahran and The Olson in South Yarra (pictured above). 
It said the deal would funded via available cash and existing debt facilities. 
“Recognising the strength of the Art Series brand in market, each property will continue to operate under The Art Series brand,” said the announcement.
The recent transaction marks the biggest acquisition by the Mantra Group since its purchase of the 1086-room Ala Moana Hotel in Honolulu for $71 million in 2016, added The Australian Finance Review.
The deal is expected to ease the pressure on the hotel and resort operator, after its stock was downgraded by Citi Research last week, in part due to a lack of major acquisition announcements.
The hotels are expected to contribute about $7 million in underlying EBITDA in its first full year of ownership, the group said.
Settlement of the Art Series Acquisition is expected to occur in late 2017.
“This acquisition enhances our existing portfolio and we have arrangements in place that should deliver new Art Series properties into the future” Mantra Group’s CEO Bob East said.
Mantra shares ended Monday up 5.5 per cent at $2.86.
Deague Group chief executive Will Deague said the family was selling its Art Series Hotels "with mixed emotions", but that it was time to recycle the funds into other areas including multi-unit residential, office complexes and further hotel development.
Earlier this year, the Melbourne-based Deague Group had rebranded itself from Asian Pacific Group. 
Trudy Crooks and Tim Crooks from Resort Brokers Australia negotiated the Art Series deal on behalf Deague Group.
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Mantra Group buys Art Series hotel chain from Deague family for $52.5 million

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A bayside Melbourne hotel has been snapped up by a Chinese investor for $15.8 million on a tight of yield of 3.3 percent.
It was its second sale in recent times.
Brighton's Marine Hotel at <a href="https://www.cbremelbourne.com.au/properties/199-217-new-street-brighton/" target="_blank">199-217 New Street</a> was bought a year ago by BRW Rich Lister Giuseppe "Joe" Catalfamo from another well-known property family, the Zagames, for $13 million, according to titles records, The Australian Financial Review noted.
The present transaction translates to a 21.5 per cent capital return for Catalfamo, a former meat industry veteran. Catalfamo was 190th on the BRW list with a wealth of $373 million.
The Brighton hotel stands on a prominent corner and is set on an expansive 4,670 sqm land holding.
The leased hotel had a current net income of $533,540 pa. It has a five-year net lease ending next year, with 25 years of further options. There are fixed annual increases of 3 percent.
It is close to the bustling Church Street shopping precinct and Brighton Yacht Club.
The Chinese private investor is understood to have paid in cash, and the deal pips another recent pub deal in bayside Albert Park, according to the AFR. 
The Beach Hotel was sold for $17.1 million on a 4.1 percent yield to an offshore Chinese purchaser
CBRE brokered the Marine Hotel deal along with Vinci Carbone's Joseph Carbone and Frank Vinci.
In April, another Chinese investor paid bought the Arena Shopping Centre in Melbourne’s south-east suburb of Officer for $48 million. That deal was also brokered by CBRE.
The recent deals highlight the strength in investment appetite for well-located assets backed by strong tenancy profiles.
The centre generates an annual income of $2.65 million per annum and the initial yield works out at 5.38 percent.
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Brighton's Marine Hotel bought by Chinese investor for $15.8 million  

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A city fringe hotel in West Melbourne has been snapped up by developer United Asia Group through Savills.
Flagstaff City Inn at 45-55 Dudley Street had been listed with expectations of more than $18 million.
The hotel is speculated to have changed hands for around $19.5 million or a per-square-metre rate of around $15,000, according to Fairfax Media.
The selling agents were Clinton Baxter, Benson Zhou and Jesse Radisich of Savills.
"It achieved an unprecedented land rate for West Melbourne, which is indicative of offshore developers' desire to cater for burgeoning demand," Baxter was quoted by the Sydney Morning Herald.
It generates an income of nearly $1.3 million per annum.
The property was offered to the market on a ‘walk-in, walk-out’ basis with expressions of interest closing April 11.
It is close to city centre attractions, the Melbourne Cricket Grounds (MCG), Royal Botanical Gardens, Southgate along the Yarra River, Crown Casino and more.
UAG, led by Nicole Chow, snapped up the property.
It has 42 spacious suites, a restaurant and facilities for conference  etc.
There is development potential with a 38-level tower next door.
Radisich said future development outcomes for the site could include high density residential and retail, commercial, student accommodation and hotel uses.
“The flexible Mixed Use zoning provides for a wide range of development options and that fact, not to mention the size of the land and the red hot hotel market, is what is so compelling about the opportunity that this property presents,” Radisich said.
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Melbourne's Flagstaff City Inn snapped up by developer through Savills

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A historic pub in Macarthur region’s Picton on the south-western edge of Sydney, has sold for an undisclosed sum through Ray White Hotels.
The George IV Inn was scheduled for auction on May 31.
The 174 Argyle Street property is one of the oldest pubs in NSW, built by convict labour in 1835. It is one of the only two pubs in town.
It last changed hands for $1.2 million in 2011, according to RP Data.
It was recently damaged by floods and needs repairs, according to its description by selling agency Ray White Hotels.
The freehold property has multiple bars, micro-brewing facilities, kitchen, function space, gaming room &amp; nine PMEs.
It has a land area of 7,174 sqm with ample parking &amp; enormous upside
Blake Edwards and Tony Braham of Ray White Hotels were the selling agents.
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