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."

[smartcode_project:default project_id=150713 project_image_fid=373827]

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.

[smartcode_project:default project_id=151449 project_image_fid=357458]

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.

[smartcode_project:default project_id=151449 project_image_fid=357469]

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.

[smartcode_project:default project_id=134951 project_image_fid=368645]

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."

[smartcode_project:default project_id=134951 project_image_fid=358802]

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.

[smartcode_project:default project_id=134951 project_image_fid=364551]

<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.

[smartcode_project_cta:default project_id=134951]

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.

[smartcode_project:default project_id=135546 project_image_fid=367096]

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;

[smartcode_project:default project_id=135546 project_image_fid=363511]

<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;

[smartcode_project_cta:default project_id=135546]

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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A heritage-listed hotel in Queensland’s West Ipswich has just changed hands for $770,000 through Ray White Commercial.
City View Hotel at <a href="https://www.realcommercial.com.au/property-hotel+leisure-qld-west+ipswich-501677405" target="_blank">277 Brisbane Street, West Ipswich</a> was built in 1908 and was designed by architect Brockwell Gill.
Distinguishable for its two-storey octagonal tower, the building demonstrates the characteristics of a Federation-era provincial hotel. 
The hotel includes two function rooms, bars and nine rooms currently being used for accommodation. It also has a manager’s residence and other amenities. 
The hotel is on a 1,444 sqm block of land. It enjoys good traffic exposure and the zoning is CBD Residential High Density (mixed use). 
Other features include a grand timber stairway with balustrade , pressed metal ceilings and stained glass windows.
The property was sold by Ray White Commercial’s Morrie Marsden and Les Svensson. 
The hotel is being renovated into accommodation for backpackers by businessman Hamish Parker.
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Heritage hotel in Queensland’s Ipswich changes hands

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The iconic Turn In Motel, the first motel built in Warrnambool during the late 1950s, has been sold for $613,000.
The 15 unit motel rooms all had kitchens.
It had been listed at $629,000 through Wilson Real Estate.
The Verdon Street premises last sold at $290,000 in 1998. 
The two star $80 a head motel was featured in the south west Victorian <a href="https://www.bluestonemagazine.com.au/2014/10/26/turning-in-to-the-turn-in-motel/" target="_blank">Bluestone</a> website magazine. 
There are around 60 hotels in the town.
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jchancellor-FAypfDUnLy

The iconic Turn In Motel, Warrnambool sold

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One of Sydney’s oldest hotels, Cremorne Point Manor, has just undergone a full makeover for about $1 million, combining modernity with heritage.
The upgrade was the first for the <a href="https://www.cremornepointmanor.com.au/" target="_blank">four-star hotel</a> in more than a decade. The full décor sweep includes all 29 bedrooms, bathroom and communal guest area. 
Hospitality entrepreneur Jean Claude Branch incorporated quality bedding, interiors and accents in each room and common rooms while maintaining affordable nightly rates. 
Jean-Claude has a carved a niche for himself in restoring heritage buildings which include Dalziel Lodge and Glenferrie Lodge.
<img src="/images/2016/09/13/CPM%20King%20Suite1.jpg" alt="">
As the hotel is a heritage building, Jean Claude commissioned Aboriginal artist Winston Walford to create artwork, reproduced into handmade mosaic tiles. 
The tiles are 6 meters long and 2.7 meter high. There are approximately 65,000 hand-laid tiles: 6 meters long x 2.7 meters high with nearly 65,000 x 2 cm hand laid tiles.
Winston also utilised his signature right thumbprint image to form glass mosaic tiles. The tiles faithfully replicated the original artwork as painstakingly hand laid in Huizhou, China. The process took three artisans eight weeks to complete, working full time to perfect the installation in the main guest dining room.
“The renovation, while not absolutely required, was part of our ongoing need to provide the best possible guest experience,” said Jean-Claude. 
 <img src="/images/2016/09/13/CPMArtwork2.jpg" alt="">
<img src="/images/2016/09/13/CPM%20Artwork1.jpg" alt=""> 
“Including Aboriginal art through my long term China business connections, we believe this is the first instance of a local Aboriginal artists installation being commissioned into unique center pieces.” 
He said the refurbishment compliments Winston’s heritage piece and marries modern design approach with historic art.
Rex Winston Walford belongs to the Gamilaroi language group and resides on the North Coast. He has won awards and accolades for his work, including being a finalist on multiple occasions in the Parliament of NSW Aboriginal Art Prize, commended in 2010.
 
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Sydney's heritage hotel Cremorne Point Manor gets a $1 million makeover

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One of Melbourne’s best performing hotels, the Novotel Melbourne Glen Waverley, is set to be offered for sale in one of Australia’s strongest accommodation markets. 
The hotel comprises 200 upscale rooms, a bar and restaurant, meeting space, gym, indoor pool and parking for nearly 100 cars. It is currently leased to Accor Asia Pacific under a triple net lease expiring in July 2018.
It will be sold through an expressions of interest closing October 18. Colliers International’s Gus Moors, Guy Wells and Neil Scanlan have been appointed to sell the hotel.
“The Novotel Melbourne Glen Waverley is widely regarded as one of Melbourne’s strongest performing metropolitan hotels due to its ability to capitalise on the broad-based activity within the City of Monash, which is the second largest employment region in Melbourne, after the CBD,” Moors said. 
“This sale presents an opportunity to secure a strategic position in the tightly held Melbourne hotel market with an asset offering an enviable track record of strong, stable returns plus the attraction of reversionary upside post expiry of the current lease.”
Wells added that “as the only internationally branded, upscale hotel east of the CBD and St Kilda," the Novotel hotel has an edge over its competitors.  
“Melbourne’s hotel market is one of the strongest in the country, with solid, consistent occupancy and rates that are growing materially.”
The capital city recorded 71.4 million visitor nights during 2014/15, an increase of 13.9 percent. According to Tourism Research Australia, visitor nights are anticipated to grow a further 8.1 percent across 2015/16. 
“The strength of the Melbourne hotel market creates opportunities for metropolitan hotels like Novotel Melbourne Glen Waverley, as they benefit from guest demand that is displaced from the CBD,” Wells said.
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Novotel hotel in Melbourne comes to the market

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A quaint hotel in Queensland’s North Rockhampton has just been snapped up for $200,000.
The two-storey hotel at <a href="https://www.realcommercial.com.au/property-hotel+leisure-qld-koongal-501956402" target="_blank">385 Lakes Creek Road, Koongal</a> has a main bar, bistro/function room area and 10 boarding rooms upstairs. There is also the potential for re-opening a drive-through bottle shop.
It has 10 boarding rooms and a large car park.
The corner property, which spans 1,608 sqm, was sold with vacant possession by Andrew Leach of Ray White.
This site has enormous potential for an Owner-Operator Publican or a redevelopment site~ in the future.
The property can be redeveloped subject to council approval.
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Rockhampton hotel with bar changes hands for $200,000

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Balmain’s Iconic Exchange Hotel has been purchased by local investor Jon Adgemis, for circa $5 million, with the aim to reinvent the pub to entice the locals back to the heritage listed, iconic establishment.
Built in 1885, the Exchange Hotel boasts a long history of being Balmain’s favourite meeting place, comprising the popular Beattie Bar, Bistro, Balcony bar and new cafe and bar ‘Oliver's Corner’, not to mention numerous elegant function rooms and smart new restaurants. 
The National Trust classified Exchange Hotel at Balmain was a favoured meeting place of the early Labor movement.
Set at 94 Beattie Street, just 6kms west of the Sydney CBD, the freehold property grandly sits on a 640sqm site on the corner of Beattie and Mullen Street and offers 1076sqm of NLA.
Miron Solomons and Vince Kernahan of Colliers International negotiated the sale and said the property has the potential to unlock multiple income streams and development upside, with an opportunity for a mixed use conversion (subject to council approval).
Mr Solomons said there are very few freehold opportunities available and in particular undercapitalised value-add opportunities in an area like Balmain. 
“The Exchange Hotel is certainly unlike most hotels in the area. Its size alone over the multiple levels offers potential for diverse incomes streams and we received strong interest from national owner occupiers, investors and value-add specialists throughout the sales campaign.
“With the buzz around White Bay, Balmain is starting to attract new interest from creative users, especially with Surry Hills and Pyrmont close to full occupancy, it appears that Balmain could be the next creative hub”.
Previous owners of the Exchange include brothers Joe and Peter Polifroni and hotelier Stan la Vin.
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Balmain's iconic Exchange Hotel has sold

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The Hunt Hospitality group has added Newcastle’s Duke of Wellington hotel to its growing portfolio of Hunter region properties in a deal valued at around $8.5 million.
The Hunt family are long time hoteliers who currently own the Kent and CBD Hotels in Newcastle.
The Duke of Wellington has been added to their portfolio by way of private sector syndication – in a similar fashion to Maitland’s The Rutherford Hotel, which was acquired earlier this year.
CBRE Hotels negotiated the sale in conjunction with Knight Frank.   
The Duke of Wellington is situated in the Newcastle suburb of New Lambton. Established in 1932 and known by locals as The Duke, the hotel is regarded as one of Newcastle's premier hospitality venues. 
CBRE National Director Daniel Dragicevich said the sale price and yield achieved reflected the strong appetite for non-metro hotel assets, given the limited availability of quality Sydney stock.
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Hunt Hospitality secures another Newcastle pub, The Duke of Wellington

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Mudgee's Lawson Park Hotel has sold for $4.05 million.
CEO of the Lantern Hotel Group CEO John Osborne announced the sale which attracted 57 enquiries.
“The campaign was tailor made to attract both investors and operators.” Gerry Quinlan said that after a competitive tussle the Hotel was sold to an investor," John said.
The sale is part of the Group’s divestment of non-core hotels which to date has realised $43.0 million with an overall premium on book value of 14 percent.
Manenti Quinlan &amp; Associated acted as agents for the sale.
The sale further consolidates the recent investment sales of the Racecourse Hotel, Wallsend and the Jemmy Moss Inn, Moss Vale.
Over the last three years the Lantern Group has developed the Lawson Park Hotel into one of the state’s leading regional hotels.
It is an award winning venue having captured the prestigious AHA Awards for the Best Casual Dining Country and Finalist Best Steak.
The value of the Lawson Park Hotel was underpinned by 15 gaming entitlements.
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Mudgee's Lawson Park Hotel sold

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Club Crocodile Hotel, the resort in Airlie Beach, has been sold to Singaporean group Well Smart Investment Holdings.
Owning the Mantra Terrace Hotel in Brisbane and the Ibis Budget Hotel Melbourne, Club Crocodile is the group's third hotel.
The sale was brokered by PRD Airlie Beach.
The 3.5-star Club Crocodile Resort was sold by David Kingston's Ocean Hotels for between $8 million and $9 million.
The resort features 161 rooms on a large freehold site close to the beach front and Abell Point Marina.
Resorts in Airlie Beach and the Whitsundays have recently had high occupancy levels. 
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Club Crocodile sold to Well Smart 

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The Cowley family has finally fully exited its Hunter Valley property holdings, selling off The Convent.
It has been bought by the Escarpment Group for just over $5 million
The Convent — one of the Hunter Valley’s best known resorts - dates back to a 1909 Coonamble to house an order of nuns, which was relocated to Pokolbin.
It has 17 luxury rooms. It was sold along with Circa 1876, one of the Hunter Valley’s top fine dining restaurants.
CBRE Hotel’s Rob Cross and Alan Jurd from Jurd’s Real Estate sold the properties for the Cowley family.
The Escarpment Group, run by George Saad and Huong Nguyen, owns a collection of Blue Mountains properties, including the Hydro Majestic Hotel, Parklands Country Gardens and Lodges, Lilianfels Blue Mountains Resort and Spa and Echoes Boutique Hotel and Restaurant.
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