Lower North Shore development specialists&nbsp;<a href="https://www.apartments.com.au/developers/abadeen-group">Abadeen</a>&nbsp;has topped out its new local apartment development,&nbsp;<a href="https://www.apartments.com.au/new-apartments/northcote-collective-naremburn-2-6-northcote-street-naremburn-nsw-2065">Northcote Collective</a>.&nbsp;

Located in the tightly held suburb of <a href="https://www.apartments.com.au/developments/naremburn-nsw-2065">Naremburn</a>, Northcote Collective is a collection of just 58 one-, two-, and three-bedroom apartments designed by award-winning architects Rothelowman.&nbsp;

The building is just a five to 10 minute walk from the heart of Crows Nest and the new&nbsp;St Leonards and Crows Nest Metro stations. Abadeen has also brought doorstep convenience, with a ground-floor retail offering on Northcote Street.

Northcote Collective is being delivered by&nbsp;<a href="https://www.apartments.com.au/builders/decode">Decode</a> — an iCIRT-rated construction company well regarded in the new development industry.

[smartcode_project:default project_id=114189 project_image_fid=272840]

“This is an important and exciting moment for Northcote Collective, and we’re proud to celebrate this milestone with our partners, consultants, and future residents,” said Justin Brown, Executive Chairman and Founder of Abadeen.&nbsp;

“From the outset, our vision was to create something truly special for Naremburn — homes that respect the character of the neighbourhood while elevating the standard of Lower North Shore living. With connectivity to transport, retail on the doorstep and a true village lifestyle, this milestone also comes at a perfect time when buyer confidence is returning to the market. I am incredibly proud of our team and of Decode for their dedication in helping us bring this vision to life.”

[smartcode_project:default project_id=114189 project_image_fid=272865]

The development is two-tiered, with two rooftops for residents. The taller building has an impressive rooftop pool, a rare inclusion in the new Sydney apartment market. The level, with panoramic views, also includes an entertaining terrace with barbecue facilities.

Local downsizers and young professionals are showing the strongest interest in the development, with recent improvements in the property market — supported by three rate cuts in 2025 — boosting borrowing power and buyer confidence.

Auction activity across Sydney surged by almost 30 per cent in recent weeks, with clearance rates above 70 per cent — signalling a renewed wave of buyer demand.

Northcote Collective will welcome buyers in 2026.

[smartcode_project_cta:default project_id=114189]

Joel Robinson

Abadeen tops out Northcote Collective in Naremburn

Sunshine Coast-based <a href="https://www.apartments.com.au/developers/devcon-property-group">Devcon Property Group</a> has acquired one of Maroochydore’s most prominent development sites for $12 million unlocking the potentialfor a mixed-use project in the Cotton Tree precinct.

&nbsp;

The 4,178 sqm site at 41–43 Aerodrome Road—well known locally as the former home to one of Australia’s last Sizzler restaurants—was sold via an off-market expressions of interest campaign by Colliers agents Nick Dowling and Baydn Dodds. More than 70 targeted buyer groups were approached, resulting in multiple competitive offers for the property.

Devcon Property Group Managing Director Michael Kain said the acquisition was a strategic move in line with the company’s focus on delivering high-quality projects in prime coastal locations.&nbsp;

“We’re excited about the possibilities this site, in one of the Sunshine Coast’s most iconic beachside &nbsp;communities, offers for a broad range of development outcomes,” Kain said.

“Its location, ocean view potential, and proximity to the Maroochydore CBD and beach make it an &nbsp;outstanding development prospect. Our plans are to refurbish the existing building and then review &nbsp;development options for the remainder of the site.”&nbsp;

<img alt="Aerodrome Rd site overlooking Beach (Large)" data-entity-type="file" data-entity-uuid="a29dc4ed-68c1-4bec-a4fc-283063dcde1e" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Aerodrome%20Rd%20site%20overlooking%20Beach%20%28Large%29.jpg?VersionId=b0WxJWevmLoAfCP4YvGImZpR3rSCJJ9L" />

Colliers Special Projects Manager Baydn Dodds said the sale reflected the ongoing strength of the &nbsp;Sunshine Coast’s development site market, particularly for projects capable of achieving water views. &nbsp;

“Sites of this scale, in walkable beachside locations with ocean views, are tightly held and continue to attract significant interest from both local and national developers,” Baydn Dodds said. &nbsp;

“Holding a prominent position as the former home to one of Australia’s last Sizzler restaurants and more recently occupied by Rashays, the prime site is located just 150 metres from Maroochydore Beach.&nbsp;

“With stunning ocean view potential, located in one of the Sunshine Coast’s best known iconic &nbsp;beachside communities, within steps of shops, cafes and the beach it is no surprise that there was strong interest in the site. The transaction highlights the ongoing depth of demand for well-located &nbsp;mixed-use sites across the Sunshine Coast.”&nbsp;

Colliers Sunshine Coast Managing Director Nick Dowling said the transaction reinforced the &nbsp;Sunshine Coast’s status as one of Australia’s most active development markets.&nbsp;

“The combination of strong population growth, lifestyle appeal, and infrastructure investment is &nbsp;driving demand for quality development opportunities,” Nick Dowling said. &nbsp;

“The Sunshine Coast is one of only three markets nationally to record an increase in crane numbers, &nbsp;reflecting the strength of the region’s construction pipeline.&nbsp;

“Opportunities like this are rare and continue to generate strong buyer interest in the region.”&nbsp;

The Sunshine Coast development market is booming, with several high-profile developers like Cube Developments, Gardner Vaughan Group, and RCQ, planning developments in the region.

Devcon buys Sunshine Coast’s former Sizzler site for new apartment development

Sydney House, the residential redevelopment of the landmark City Tattersall building on Pitt Street in the Sydney CBD, will officially launch to the market this month.

The $800 million development, a joint venture between&nbsp;Singapore-listed <a href="https://www.apartments.com.au/developers/first-sponsor">First Sponsor</a>&nbsp;and leading Melbourne-based developer&nbsp;<a href="https://www.apartments.com.au/developers/icd-property">ICD Property</a>, will see a glass tower with 241 apartments and a 135-room hotel built above the restored heritage-listed podium.

[smartcode_project:default project_id=12428 project_image_fid=312145]

The apartments will offer&nbsp;rare northeast-facing views across the sparkling Sydney Harbour and Hyde Park, all positioned above a luxury hotel with exclusive access to premium amenities and five-star lifestyle services.

Internationally acclaimed architecture firm&nbsp;<a href="https://www.apartments.com.au/architects/bvn-architecture">BVN Architecture</a>&nbsp;handled the design for the residential component and the interiors for the hotel, while&nbsp;<a href="https://www.apartments.com.au/architects/fjc-studio">FJC Studio</a>&nbsp;focused on the heritage podium.

[smartcode_project:default project_id=12428 project_image_fid=6670]

First Sponsor’s CEO, Neo Teck Pheng, together with ICD Property’s CEO, Matthew Khoo commented that the joint venture team was ecstatic to bring this extraordinary project to market as the first opportunity for those looking to secure their ultimate CBD luxury residence elevated by premium hotel amenities, including select premium services designed for effortless living.

“<a href="https://www.apartments.com.au/new-apartments/sydney-house-194-204-pitt-street-sydney-nsw-2000">Sydney House</a> will offer a sophisticated expression of modern CBD living, capturing panoramic vistas to Sydney’s most beloved icons, including the Sydney Harbour Bridge as well as Hyde Park out to the North and South Heads,” Khoo said.&nbsp;

&nbsp;

[smartcode_project:default project_id=12428 project_image_fid=312146]

Mr Neo expressed that the reinterpretation of the heritage podium levels will feature an elegant heritage bar and restaurant, along with luxurious hotel and function facilities, enhancing the experience for residents. The historical features will be reborn, ensuring that these grand, opulent spaces will once again be enjoyed, appreciated and celebrated by residents, Sydneysiders as well as interstate and international visitors alike.

Managing sales for the project, SRM Residential Partner Tim Rees said that the team has received an overwhelming response to date, largely from local downsizers and upgraders looking for the ultimate lifestyle purchase.&nbsp;

“Once completed in late 2027, Sydney House will be Sydney CBD’s newest icon blending modern architecture with historic grandeur located in one of the most prestigious enclaves of the CBD,” Rees said.&nbsp;

“Pitt Street is arguably the most significant street in all of Sydney. Just a stone’s throw from Circular Quay, Sydney Opera House, Hyde Park and Darling Harbour, Sydney House offers seamless connection with the CBD and beyond. Pitt Street Mall is literally across the road and there is an abundance of dining and cultural venues in close proximity. The outlook from Sydney House will be breathtaking with views of Hyde Park and Sydney’s famous iconic landmarks on offer.

“Following the trend of other global cities such as New York, London, Paris and Tokyo, luxury inner city apartment living with access to premium hotel amenities is the new ‘trophy home’ for wealthy downsizers or empty-nesters who aren’t looking to slow down, as they want to live in the heart of the action.”

[smartcode_project:default project_id=12428 project_image_fid=350624]

The project boasts a prime CBD location surrounded by the city’s most premium shopping centres including David Jones and Westfield Pitt Street as well as some of Sydney's best restaurants, bars,&nbsp;pubs, theatres, museums, art galleries, and parks.

Residents will be able to access the newly opened Sydney Metro Gadigal Station, located within a block from Sydney House. This station provides connectivity to Martin Place (one min), Barangaroo (three mins) and North Sydney (11 mins) as well as Chatswood and Macquarie University through to Castle Hill and Norwest. With services every four minutes during peak times, the Sydney Metro provides the ultimate convenience with 21 stations from Tallawong to Sydenham.

One of Sydney’s leading residential construction companies, particularly in premium off the plan luxury residences, Richard Crookes Constructions, will complete the project in late 2027.&nbsp;

Price guides at Sydney House include one-bedroom apartments from $1.5 million, two-bedroom apartments from $2.3 million and three-bedroom apartments from $5 million.

[smartcode_project_cta:default project_id=12428]

Set to bring next level luxury to Sydney CBD’s prestige property market

Buyers set for first chance at Sydney House, Sydney CBD's newest landmark tower development

Joint venture partners&nbsp;<a href="https://www.apartments.com.au/developers/amalgamated-property-group">Amalgamated Property Group</a>&nbsp;(APG)&nbsp;and&nbsp;<a href="https://www.apartments.com.au/developers/base-developments">Base Developments</a>&nbsp;have kicked off construction&nbsp;on its second Gold Coast apartment tower, Affinity Broadbeach, which is due for completion in early 2028.

More than 50 per cent of the 180 two- and three-bedroom apartments have sold, with buyers particularly impressed by&nbsp;the spacious and functional floor plans, close proximity to the beach, premium inclusions, and expansive resort-style amenities.

APG has just released a new limited collection of three-bedroom skyhomes with three living rooms and four bathrooms.

[smartcode_project:default project_id=107690 project_image_fid=323744]

Graham Potts, Principal and Founding Director Amalgamated Property Group, said the strong demand for <a href="https://www.apartments.com.au/new-apartments/affinity-broadbeach-40-46-chelsea-avenue-broadbeach-qld-4218">Affinity Broadbeach</a> highlights a genuine need for affordable luxury residential developments on the Gold Coast.&nbsp;

“It’s exciting to see construction kick off on this sought-after project which is set to create a new benchmark in luxe coastal living on the Gold Coast," Potts said.

"Buyers are attracted by the seamless blend of convenience and elegance that Affinity offers, together with the knowledge that our 20-years of industry experience ensures we continue to deliver homes to the same high standards our reputation has been built on."

Capital Construction Queensland, the inhouse construction arm of APG, is handling the building. Potts says having the internal build capability provides buyers with confidence in delivering a high-quality building, referencing Amaya Broadbeach which is nearing completion nearby.

[smartcode_project:default project_id=107690 project_image_fid=323199]

Carly Cottam, CEO of <a href="https://www.apartments.com.au/project-marketer/motiv">MOTIV</a> Group which is selling Affinity, says there's a clear undersupply of property across Southeast Queensland and an even greater shortage of well-designed, spacious residences.

"That’s why Affinity has attracted such strong demand," Cottam says.

"Every detail, from the intricate finishes to the intelligent spatial planning, has been crafted for the discerning owner-occupier. Beyond the residences, the amenity is designed as a true extension of the home."

&nbsp;

[smartcode_project:default project_id=107690 project_image_fid=6678]

Affinity’s superior amenities are resonating with buyers who are impressed by the range on offer, from the expansive outdoor heated pool, to the state-of-the-art gym, steam and sauna facilities, outdoor entertaining terraces, and a business centre.

"The offering reflects exactly what buyers are seeking when right-sizing or upgrading - spacious residences complemented by curated residential amenity, all within moments of the beach and vibrant retail and dining precincts,” Cottam added.

[smartcode_project:default project_id=107690 project_image_fid=6676]

Dennis Milin, Principal of Base Developments and Milin Builders, and Director of Capital Constructions Queensland, said the team is excited to deliver another collection of premium homes in the heart of Broadbeach.

"With more than three decades of proven success in construction and development, our award-winning portfolio across the ACT and NSW speaks for itself, now further demonstrated by the strong progress at Amaya Broadbeach on First Avenue in Queensland,"&nbsp;Milin said.

“In partnership with a highly regarded team of designers, engineers and trades, and supported by our experienced Gold Coast construction professionals, we remain committed to delivering projects defined by quality, timeless design and uncompromising standards."

Early works at Affinity are already advancing, with guide walls for shoring and bulk excavation underway.

[smartcode_project:default project_id=107690 project_image_fid=323196]

With a proven track record in large premium projects, APG has been developing residential and commercial property across Australia for more than 20 years. APG and Base Developments are the same duo behind the successful Amaya Broadbeach, currently under construction on First Avenue and due for completion in early 2026, as well as a number of other successful joint developments in Canberra, including Botanical in Turner, Kiara in Narrabundah, Ivy in Woden, and the three-tower Oaks precinct in Phillip.

APG is currently building The Eastbourne, 349 homes, a premium office building, and a retail and dining precinct at ANZAC Park East.

[smartcode_project_cta:default project_id=107690]

Amalgamated Property Group and Base kick off construction at Affinity Broadbeach

&nbsp;

A local Australian has spent a Lower North Shore record $15.1 million at <a href="https://www.apartments.com.au/new-apartments/elevate-hume-place-crows-nest-25-hume-street-crows-nest-nsw-2065">Elevate Hume Place</a>, the new TOD above the recently opened Crows Nest Metro Station.

The buyer amalgamated a penthouse and sub-penthouse to create the triplex apartment that will have five bedrooms, five bathrooms, a private rooftop pool, expansive terrace, and panoramic views of Sydney Harbour and skyline. The building is being created by burgeoning developer Third.i, alongside joint venture partner Phoenix Property Investors.

The buyer was drawn to Elevate’s unrivalled connectivity, situated directly above the&nbsp;<a href="https://www.apartments.com.au/developments/crows-nest-nsw-2065">Crows Nest</a> Metro Station, and the vibrant lifestyle precinct that surrounds it. The Metro connects to the CBD in just seven minutes, and Chatswood in four.

[smartcode_project:default project_id=142550 project_image_fid=309367]

Designed by internationally acclaimed architects <a href="https://www.apartments.com.au/architects/woods-bagot">Woods Bagot</a>, Elevate draws inspiration from the ancient blue gum forests native to the area. The building is a Net Zero development, created in consultation with Indigenous communities and exceeding sustainability benchmarks. Interiors feature chevron-engineered timber flooring, natural stone benchtops, and premium Sub-Zero Wolf appliances, delivering timeless elegance and next-level comfort.

The exchange of the $15.1 million apartment, follows a recent $5 million sale, and over $30 million currently in expressions of interests. Interest in Elevate’s penthouse stock has surged, reflecting a strong appetite for ultra-luxury residences that combine design excellence with unmatched connectivity.

[smartcode_project:default project_id=142550 project_image_fid=309369]

“We’re seeing a significant uptick in interest from local and international buyers who are prioritising connectivity, sustainability, and lifestyle,” said Callum Billinghurst, Head of Sales at Third.i Group.&nbsp;

“These recent sales are a testament to the vision behind Elevate. It’s not just about luxury finishes or panoramic views, it’s about creating homes that are deeply connected to the city and the community. Buyers are responding to that. They want to live somewhere that offers more than just a postcode, they want culture, convenience, and long-term value. Elevate delivers all of that, and more.”

[smartcode_project:default project_id=142550 project_image_fid=297878]

As part of the Hume Place precinct, Elevate is transforming Crows Nest into Sydney’s most dynamic urban village. Elevate’s unique position directly above the metro, combined with its curated amenity offering, has made it a magnet for buyers seeking a future-proof investment and a vibrant urban lifestyle.

The next release at Elevate is expected later this year.

[smartcode_project_cta:default project_id=142550]

“We’re seeing a significant uptick in interest from local and international buyers who are prioritising connectivity, sustainability, and lifestyle,” said Callum Billinghurst, Head of Sales at Third.i Group


Third.i & PPI set Lower North Shore apartment record with $15.1m sale at Elevate Hume Place penthouse amalgamation

Hotel Sales

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The Gunnedah Hotel has been sold by it's long time owners at a yield of almost 11%.
Nick Butler of Manenti Quinlan held the expression of interest campaign, which offered the hotel on freehold/vacant possession basis.
Located at 298 Conadilly St, Gunnedah the hotel the hotel was purchased by the Gibbs family for $2 million back in 2011.
Set on 2,921 sqm, the hotel has 12 PMEs, a 3am licence and 29 rooms for accommodation.
According to the listing the hotel's weekly average revenue is $38,700.
It was offered by Chris and Kim Gibbs, active members of the Gunnedah community.
Nick Butler of Manenti Quinlan and Associates said the Gunnedah Hotel attracted a very high level of interest from Sydney publicans and "a long list of established country operators."
"Gunnedah is expanding rapidly due to the growth of its industries, and the opportunity to take advantage of that via the Hotel’s passive income streams was particularly attractive to prospective buyers," he added.
The hotel was sold, at an undisclosed price, to established hotelier Daniel Whitten (Robin Hood Hotel, Randwick) and Luke Prout who is already a partner, with Whitten, in the Tamworth Hotel.
Their management of the hotel begins in mid-February.
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j.ballantyne1990-6AQqhLzZaK

Gunnedah Hotel sold at an 11% yield

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<div>The Shakespeare Property Group has settled the $100 million purchase of the Novotel Twin Waters Resort on Queensland’s Sunshine Coast from the Abacus Property Group.</div>
<div> </div>
<div>
<div>This is Shakespeare's fifth major hotel acquisition bringing their total room stock to more than 1,200 rooms, this includes two other hotels managed by AccorHotels – Pullman Cairns International and Novotel Oasis Resort Cairns.</div>
</div>
<div> </div>
<div>Located between the Maroochy River and Mudjimba Beach, the Novotel Twin Waters Resort site (pictured above) is set on a 36 hectare holding comprised of the low-rise resort with 361 hotel rooms.</div>
<div> </div>
<div>Shakespeare have stated that their current aim is to improve the current facilities to position the resort as a "leading" business events venue and leisure resort in Queensland. </div>
<div> </div>
<div><img src="https://www.urban.com.au/images/2018/9/26/Novotel%202.JPG" alt=""></div>
<div> </div>
<div>Matt Young, Vice President of Operations for AccorHotels in Queensland and Northern Territory said that AccorHotels is proud to strengthen its business partnership with Shakespeare Group.</div>
<div> </div>
<div>The $100 million purchase of the resort comes right as construction of tourism infrastructure on the Sunshine Coast has picked up including the new runway and terminal facilities being developed for Sunshine Coast Airport and two new 5-star hotels approved over the past six months.</div>
<div> </div>
<div><img src="https://www.urban.com.au/images/2018/9/26/Sunshine%20Coast%20Airport.JPG" alt=""></div>
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Shakespeare Property Group has purchased the Novotel Twin Waters Resort

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A historic mansion that is currently run as a restaurant and bar in the Victoria’s Bellarine Peninsula is on the market.
The <a href="https://www.realestate.com.au/property-house-vic-queenscliff-126546886" target="_blank">34-38 King Street</a> property is one of Queenscliff’s iconic buildings and has a $5 million to $5.5 million price guide. 
It previously sold for $2.2 million in 2013, CoreLogic RP Data shows.
According to its description, in 1854, William Leigh, one of Queenscliff's first residents, planned to build the first considerably sized hotel in the region. 
Originally made of fine grade timbers, the first election for the newly established Borough of Queenscliff was held within its walls in 1863 before being destroyed by fire the following decade. The Royal Hotel as we know it today was rebuilt, this time even larger and grander, in the early 1880s.
The Royal Hotel was rechristened Hotel Q after owners Katalin and Stephen Blond went in for a “full-on restoration”, according to the Geelong Advertiser.
<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/2017/10/24/RoyalHotel2.jpg" alt="">
Currently used as a restaurant and bar, the ground floor offers a flexible floorplan with multiple zones that can be self-contained for either commercial or residential use. 
The beach house is suitable for various uses. It can be divided into two mansions with separate entrances, transformed into luxury seaside apartments, or used as a restaurant, bar or wedding venue subject to council approval. 
Zoned Residential One, there is the option of developing another building or apartments subject to council approval. 
The selling agents were James Gladman and Lee Botsios of Fletchers.
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jonathanchancellor-7SQnKwU6yx

Queenscliff's iconic 'Hotel Q' up for sale

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Leading hospitality group Redcape Hotel Group and its 25 pubs have been bought by a Moelis Australia managed fund in a $677 million deal, as it prepares for a public float of its pub fund.
The deal to acquire Redcape and its 25 pubs in NSW and Queensland from US hedge fund owners Varde Partners and York Capital comes at a time when pub values are rising, according to The Australian Financial Review.
Moelis Australia CEO Andrew Pridham said the plan was to float the pub fund in 12 to 18 months.
Most of the Redcape portfolio is in Sydney and includes 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.
Moelis and Redcape had signed a heads of agreement last year, which allowed a final due diligence.
Redcape was formed after the two US hedge funds snapped up the distressed pub portfolios of National Leisure and Gaming and the Hedley Group when pub values collapsed in the aftermath of the GFC. 
In 2013, they carved out 41 Coles-managed pubs and successfully floated them as Hotel Property Investments (HPI) leaving the remaining pubs up for grabs.
Moelis Australia is funding the acquisition from a combination of existing managed funds, wealthy investors, family offices and Moelis Australia directors and executives.
Moelis Australia will invest $40 million in Moelis Australia Redcape Hotel Group as a strategic investment that will represent a 10 per cent interest in the fund. The fund is forecast to deliver an initial cash yield to investors of 8.75 per cent per annum.
"We know the market well through our investments in pubs since 2014. The attributes of this portfolio is its solid returns and the fact that all the properties are in densely populated areas that will benefit from investment in nearby infrastructure," Pridham was quoted as saying by the AFR.
On the back of the deal and its acquisition of Armada Funds Management, ASX-listed Moelis, raised its forecast underlying earnings (EBITDA) for the year ending December 31 to $29 million, a 25 per cent increase on its IPO Prospectus forecast.
Moelis expects to have more than $2.5 billion of assets under management by December 31.
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Moelis Australia snaps up Redcape Hotel Group's pubs for $677 million 

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The Australian hotel sector recorded deals worth nearly $500 million in the first quarter of 2016 and will continue to grow through the year despite the recent strength in the Australian dollar, says new research. 
Appetite for domestic travel will remain firm and the higher dollar will not be enough of a dampener to discourage overseas visitors travelling to Australia, says real estate firm CBRE’s Q1 Australia Hotels MarketView. 
Cairns and the Gold Coast are expected to remain the star performers of the Australian hotel market after double digit growth in revenue per available room (RevPar) for the year to March 31, 2016.
RevPAR was 15.3 percent for Cairns and 11.3 percent for the Gold Coast in the year to March as a result of record international and domestic travel numbers. 
But not all major markets grew at the same pace, with an increasing divergence between the performance between the resource impacted cities of Perth and Darwin, the major business hubs of Sydney and Melbourne, and the outperforming hospitality markets in Queensland, says the report.
“The mining hubs of Perth and Darwin continue to suffer from the downturn, with Darwin being particularly hard hit due to increased supply levels,” said CBRE Hotels’ research manager Benjamin Martin-Henry. 
“Melbourne is in a state of transition, with occupancy rates increasing but average daily rates (ADR) having fallen, resulting in a drop in RevPAR. Sydney is also in a period of transition, with a slight decrease in occupancy results, although this is likely to be temporary as visitor demand remains strong.”
<a href="/images/2016/08/12/Occupancy%20and%20ADR%20change.png" target="_blank">Click to enlarge</a>
 <img src="/images/2016/08/12/Occupancy%20and%20ADR%20change.png" alt="">
 
The report also highlights that Canberra and Hobart have started the year on a positive note, with Hobart benefitting from substantial increases in tourist numbers.
 
However, the country’s key leisure markets in Queensland have been the real standouts.
 
“The Gold Coast and Cairns continue to outperform the rest of the country, posting the highest RevPAR growth rates for any major markets," Martin- Henry said.
 
CBRE Hotels’ Hayley Manvell added that with a lack of new accommodation coming onto the market in both Cairns and the Gold Coast, demand was expected to outstrip supply in the short to medium term.
 
“Investors are likely to be keeping a close eye on these markets and will look to pick up any assets that come up for sale and benefit from the growth in these regions,” Manvell said.
<a href="/images/2016/08/12/Hotel%20sales%20YTD.png" target="_blank">Click to enlarge</a>
 <img src="/images/2016/08/12/Hotel%20sales%20YTD.png" alt="">
 
Overall transaction volumes in 2015 surpassed expectations – and this momentum has carried into 2016, says the research.
 
Major deals included the purchase of the Vibe Hotel, Sydney, by Singapore’s Far East Organisation for $90 million and the Crowne Plaza Terrigal on the NSW Central Coast trading hands for $58 million, being bought by a venture between the Laundy and Karedis families.
<a href="/images/2016/08/12/Key%20deals.png" target="_blank">Click to enlarge</a>
<img src="/images/2016/08/12/Key%20deals.png" alt="">
 
CBRE national director Wayne Bunz said it remained to be seen whether the slowdown in the Chinese economy and recent gains in the Australian dollar would impact overseas buyer interest.
 
However, he noted that CBRE’s latest Asia Pacific Investor Intentions survey had shown that investors were more likely than ever before to purchase hotel assets.
 
“In our 2015 Investors Intentions survey, just 1% of investors indicated they would be purchasing hotel assets that year. Fast forward 12 months and that interest has jumped to 14 percent, with hotels now ranking as the third most sought after asset class behind office and logistics,” Bunz said.
 
“One of the ongoing constraints will be the lack of purchasable stock and, with high levels of competition pushing up already high prices in Sydney and Melbourne, investors are expected to increasingly focus on opportunities in regional areas.”
 
Bunz added that investors still perceived the Australian hotel sector to be a long term growth play and this was underpinning buyers’ willingness to pay premiums to secure high quality assets.
 
“This is compressing investment yields further, with this trend set to continue over the remainder of 2016,” Bunz said.
 
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