<a href="https://www.apartments.com.au/developers/sunland-group">Sunland Group</a> has officially lodged plans for its first Gold Coast apartment project since the departure of the Abedian family from the company three years ago, unveiling a new high-rise proposal for a prominent Broadbeach corner site on Old Burleigh Road.

The application was submitted by an entity directed by Tom Jamieson, stepson of longtime Sunland leader Soheil Abedian, and Riaz Rezvanipour, brother-in-law of Sahba Abedian, Soheil’s son.

Sunland acquired the 1,283 sqm site on the corner of Old Burleigh Road and Armrick Avenue for $9.5 million late last year and is now seeking approval for a <a href="https://www.apartments.com.au/new-apartments/99-101-old-burleigh-road-broadbeach-qld-4218">42-storey tower with 81 apartments</a>.

<img alt="First look: Sunland Group returns to Broadbeach with new Old Burleigh Road tower plans" data-entity-type="file" data-entity-uuid="fea2946d-90ee-4cfc-babe-2a8ad5db2cb6" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/pers.png?VersionId=BV0fihJw31nDIQ8ozY_h3GbS8mxDyhnm" />

Designed by <a href="https://www.apartments.com.au/architects/contreras-earl-architecture">Contreras Earl Architecture</a>, the proposed tower at 99-101 Old Burleigh Road would deliver a predominantly larger-format apartment mix aimed at the owner-occupier market. Plans include 17 two-bedroom apartments, 55 three-bedroom apartments, and nine four-bedroom residences across 35 residential levels.

The development also incorporates three basement levels, four podium parking levels, two levels of communal recreation facilities, and rooftop plant and equipment. A total of 189 car spaces are proposed, significantly exceeding the 90 spaces required under the planning scheme.

The architecture adopts a sculpted, curvilinear form, with deep wraparound balconies and integrated landscaping intended to soften the tower’s vertical expression. The planning report states the building’s “slender footprint/form provides a complimentary yet varied built form within the local streetscape” and contributes to “a varied, yet ordered skyline.”

Contreras Earl noted in its Architectural Statement that from the early stages, the project addressed a fundamental challenge: how to accommodate the required residential yield while avoiding the conventional model of a tower sitting on a rigid, fully resolved parking podium.

“The most direct response would have been to consolidate parking into a singular, flat podium and extrude a repetitive tower above,” the statement said. “While efficient, this approach would result in a consolidated built form with limited engagement with the surrounding landscape and public realm.”

Instead, the conventional podium model was “deliberately rejected”. The architects described the base of the building as “a landscaped architectural condition where structure, planting and circulation are integrated”.

“Rather than presenting a continuous built mass, the base of the building is articulated through a series of concrete planter elements that organise the podium into a fragmented system,” the statement said. “This approach reduces the perceived bulk of the lower levels while establishing a more permeable interface with the streetscape and adjacent open space.”

<img alt="Sunland" data-entity-type="file" data-entity-uuid="923fad8d-c960-4527-8fbe-975cf1ddf88d" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-05-25%20at%2010.32.03%E2%80%AFAM.png?VersionId=pngwb0hYOIUpq9vDw6F2EsOiVuHF3DiX" />

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The site sits within the High Density Residential Zone and inside the City of Gold Coast’s unrestricted “HX” building height area, where the planning framework anticipates intensified residential development tied to the expanding light rail corridor. The planning report notes the area is undergoing “transition toward more intense development forms” given its proximity to Broadbeach, Surfers Paradise, and high-frequency public transport infrastructure.

Positioned directly opposite Broadbeach Park and within walking distance of Florida Gardens light rail station, the development would sit among a rapidly evolving stretch of Old Burleigh Road that has become one of the Gold Coast’s most active apartment development corridors.

The application joins a growing pipeline of luxury residential projects reshaping Broadbeach, including nearby developments by 5Point Projects, Polycell, and Graya.

The planning report argues the project contributes toward the Gold Coast’s long-term housing targets under the South East Queensland Regional Plan, which forecasts the need for more than 100,000 additional high-rise dwellings across the city by 2046.

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The Abedian family departed Sunland Group in late 2023, ending a four-decade association with the company, and subsequently established the private development firm Abedian &amp; Co. The group is currently delivering <a href="https://www.apartments.com.au/new-apartments/greenmount-residences-cnr-hill-street-and-marine-parade-coolangatta-qld-4225">Greenmount Residences</a> at Rainbow Bay and recently launched <a href="https://www.apartments.com.au/new-apartments/18-mary-avenue-14-18-mary-avenue-broadbeach-qld-4218">18 Mary Avenue</a> in Broadbeach.
</section>

Joel Robinson

First look: Sunland Group returns to Broadbeach new apartment market with new Old Burleigh Road tower plans

The Minns Labor Government has established the new Bays West Delivery Authority to lead the development&nbsp;of the Bays West Precinct and Blackwattle Bay Precinct.&nbsp;

The Authority is charged with creating Sydney’s newest precinct, a thriving, connected, sustainable hub with White Bay Power Station as its cultural heart. Its vision is to build on the area’s natural, cultural and industrial history to shape a vibrant new neighbourhood.

The precinct will deliver up to 8,500 well-located homes, including a minimum of 10 per cent affordable and essential worker homes. Combine new housing with public open space, opening public access to the waterfront for the first time in more than 100 years, while retaining important deep-water facilities to support Sydney’s working harbour.

Located just minutes from the Sydney CBD and connected to a world-class metro, ferry, walking and cycling links, the Bays West precinct will rebalance housing growth towards well-serviced inner-city locations and help tackle the state’s housing crisis.

The Bays West Delivery Authority,&nbsp;an agency of the Department of Planning, Housing and Infrastructure, will report to the NSW Minister for Lands and Property who already has oversight of major precinct renewal projects including at Blackwattle Bay and Barangaroo.

As part of the broader Bays West transformation, the Minns Government recently announced that a proposal from Lendlease to redevelop part of the Bays West Precinct has progressed to Stage 2 of the NSW Government’s unsolicited proposals process.

<img alt="Sydney" data-entity-type="file" data-entity-uuid="2ed71eb9-d8e8-4fa7-b9d1-de4531dcf2f3" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-05-25%20at%209.42.31%E2%80%AFAM.png?VersionId=IDryFIbped9SNDg72LEN_EecvhUsOPvp" />

The Minns Labor Government has also confirmed the Bays West precinct will have a new suburb name. This will be the first major suburb built in close proximity to Sydney’s CBD in decades and will encompass the area currently being referred to as Bays West, including Glebe Island and the White Bay Power Station. Served by a new Metro station just five minutes from the CBD, it will become one of the most populous suburbs in the Inner West and one of Sydney’s premier cultural destinations.

An early works program is taking shape, which&nbsp;includes the first stages of an international design competition.&nbsp;

The aim of the Bays West&nbsp;International&nbsp;Design Competition is to&nbsp;ensure design excellence is embedded in the project from the start. The competition will deliver an&nbsp;urban framework that defines the character, ambition and long-term identity of&nbsp;this&nbsp;former industrial precinct as it transitions to a vibrant, inclusive and sustainable residential&nbsp;neighbourhood.

The competition will be led by the Bays West Delivery Authority in partnership with Government Architect NSW.&nbsp;

It will launch with an invitation for a global Expressions of Interest, before moving to an invitation-only stage that will be assessed by a panel that&nbsp;will provide advice to Cabinet who will select a winner.

Premier of NSW, Chris Minns said the establishment of the new Authority is the first step in transforming the Bays West precinct into a vibrant, livable suburb minutes from the Sydney CBD and two stops from Hunter St Station on the Metro West line.

“The Authority will deliver well-located homes close to the heart of the city and integrate the new precinct with Blackwattle Bay and the new Sydney Fish Market.

“This is a generational opportunity to build a new suburb on the city’s edge and open the harbour foreshore to the public for the first time in a century.”&nbsp;

Minister for Lands and Property Steve Kamper said the new Bays West Delivery Authority established by the Minns Government will turbocharge the development of Sydney’s newest suburb.

“The Authority is working at a record pace to deliver an international design competition, planning pathways and a financial model so that this development benefits Sydney with well-designed homes in a central location, close to public transport, jobs, entertainment and essential services.

“If we want Sydney to stay liveable and affordable, we need to be bold about using underutilised government-owned land to deliver homes for the future while making sure essential working harbour functions can be accommodated.”

Bays West Delivery Authority established to "turbocharge" Sydney’s newest suburb

Around 400 additional homes could be built at Southwark Grounds on Port Road, lifting total site capacity from 1300 to around 1700 dwellings.

A recently approved code amendment would allow apartment towers of up to 14 storeys in some areas of Renewal SA’s redevelopment of the former West End Brewery.

Renewal SA Acting Chief Executive Shane Wingard said he welcomed the code amendment, with the increase in heights and homes making a positive impact on the supply of high-quality, well-connected housing close to the city.

“By going higher across some parts of Southwark Grounds, we are adding a substantial number of very well-located homes with little impact on project delivery time or planned open space,” Mr Wingard said.

Since the project officially launched in 2025, Mr Wingard said more than 12,000 enquiries had been received about living at Southwark Grounds.

“The very strong early interest we’ve seen since homes were first released in the precinct reinforces our plans to create more housing opportunities,” he said.

The Southwark Grounds code amendment was launched in December last year, with community engagement undertaken over five weeks from January.

It proposed increasing maximum building heights from eight to 14 storeys on the eastern section of Southwark Grounds, and to 12 storeys across the remainder of the site, with minimum building heights ranging from two to four storeys.

The code amendment was implemented through an Early Commencement policy in late January, allowing developers to quickly explore the viability of increased height and housing yield while other planning processes continue.

One of the first developers delivering apartment sites have already finalised redesigns to increase the number of apartments following the code amendment.

Samaras’ development adjacent to the future Colonel Light Park is now planning to deliver 125 apartments across 11 storeys, significantly greater than original plans of around 50 apartments across four storeys.

The developer is also exploring the potential for additional affordable housing outcomes.

Most of the apartments at Southwark Grounds will be delivered within a master-planned precinct on a large parcel of land on the eastern portion of the site, covering around two-thirds of its 8.4 hectares.

Wingard said detailed precinct planning over the coming months may identify further opportunities to increase yield further that could see total apartment numbers at Southwark Grounds, exceed this number.

Affordable homes at Southwark Grounds will also see a net increase, with Renewal SA maintaining its commitment to a minimum of 20 per cent affordable housing across the development.

&nbsp;

&nbsp;

Civil works have begun across the site, with construction under way on the first new roads surrounding a townhouse precinct in the south‑west corner of Southwark Grounds. This includes Renewal SA’s 17 Founder’s Row homes, which are on track for completion by Christmas.

“We expect to have people living at Southwark Grounds by the end of the year, so delivering roads and public spaces for those residents is among our highest priorities.”

Construction of 40 townhouses off Anderson Street, known as West Village and being delivered by Contour, is forecast to begin in mid‑2026. Kolabb’s Anderson Lane development will follow shortly after, delivering a further 26 townhouses.

Southwark Grounds is a state government‑led urban renewal project now set to deliver around 1,700 homes over the next decade.

Homes will be supported by a supermarket, a range of retail and hospitality offerings anchored by a revitalised Walkerville Brew Tower, a childcare centre, car parking and well‑connected public spaces.

400 new homes planned for Adelaide's former West End Brewery site

Brisbane developer&nbsp;<a href="https://www.apartments.com.au/developers/cavcorp">Cavcorp</a> has lodged plans for a new mixed-use residential development at <a href="https://www.apartments.com.au/new-apartments/55-wyandra-street-teneriffe-qld-4005">55 Wyandra Street</a>, Teneriffe, anchored by an 85-metre public laneway designed to reconnect the suburb’s riverfront with the Gasworks precinct.

The buildings, known as Teneriffe House and Teneriffe Lane, would replace the existing Queensland Cotton head office site with a 15-storey residential tower transitioning to eight storeys toward Helen Street. The project has been designed by Plazibat Architects and lodged as a code assessable development application for 93 apartments across a 3,401 sqm mixed-use site within the Newstead and Teneriffe Waterfront neighbourhood plan.

Central to the scheme is the transformation of an existing service easement into a publicly accessible cross-block connection linking Wyandra and Helen Streets. Cavcorp says the new laneway will act as both a pedestrian shortcut and a landscaped civic space between the Teneriffe Riverwalk, ferry terminal, and Gasworks precinct.

<img alt="First Look: Cavcorp unveils Teneriffe House and Teneriffe Lane plans for landmark wellness tower in Teneriffe" data-entity-type="file" data-entity-uuid="26e7f058-b065-4de8-b13d-a2b8cb64dfcc" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/bldg.png?VersionId=sELS0ZKYi361oYipUa1BIKfe_.DLZoFV" />

“The revised proposal delivers a legacy public-realm cross-block link, permanently secured for community use, transforming an existing private easement into a safe, high-quality pedestrian connection between the Teneriffe heritage riverwalk and the Gasworks–Long Island precinct,” the planning report states.

The laneway will sit beneath a large subtropical loggia integrated into the podium levels of the development. The design incorporates deep landscaping, water gardens, lobby spaces, business lounges, and ground-floor apartments to create what Cavcorp describes as a climate-responsive “urban verandah.”

The tower itself has been designed as a slender form with recessed floorplates and curved translucent corners inspired by contemporary Japanese architecture. The building height aligns with the Commercial Road precinct controls, which permit towers up to 15 storeys within proximity to Longland Street.

<img alt="First Look: Cavcorp unveils Teneriffe House and Teneriffe Lane plans for landmark wellness tower in Teneriffe" data-entity-type="file" data-entity-uuid="a8a17d40-43b6-4718-b3fd-67676fcbb485" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/pers%202_1.png?VersionId=i3VwDtp5AmL_8InW7w4qRbDFEpb744Jt" />

The project will comprise a mix of larger-format apartments aimed at owner-occupiers, downsizers, and families. The proposed apartment mix includes 11 loggia apartments across the lower levels, 50 four-bedroom Sky-Terrace apartments from levels three to seven, and 32 Sky-Pool Homes occupying the upper tower levels. The Sky-Pool Homes will feature private thermal plunge pools integrated into oversized balconies.

According to the application, the apartments are intended to reinterpret the scale and character of Teneriffe’s woolstore conversions and Queensland homes within a vertical residential format.

“The sky-pool homes build on Cavcorp’s previous projects and introduce a distinct apartment typology to Teneriffe, informed by both local and international precedent and responding to an identified market demand for enhanced safety, space and amenity,” the planning submission notes.

A major focus of the proposal is its five-level wellness and lifestyle offering, extending from the basement through to the rooftop.

Amenities proposed include a rooftop Swim &amp; Racquet Club with a 25-metre Olympic lap pool and tennis court, coworking spaces and libraries, golf simulators, wine storage, concierge facilities, business lounges, pet wash areas, and rooftop longevity-focused wellness spaces with spas, outdoor fitness zones, and landscaped terraces.

<img alt="First Look: Cavcorp unveils Teneriffe House and Teneriffe Lane plans for landmark wellness tower in Teneriffe" data-entity-type="file" data-entity-uuid="944b352c-49b9-4247-a4c6-5967b4b69fda" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/amenity.png?VersionId=Ed_qKjAtMwFT.5gfl3jiA9QwdWxSMsaX" />

All parking will be concealed within basement levels accessed from Wyandra and Helen Streets. Cavcorp says the deep-basement engineering approach allows the entire ground plane to prioritise landscaping, pedestrian movement, and active frontage rather than vehicle infrastructure.

The development continues Cavcorp’s concentration in Newstead and Teneriffe, where the Brisbane developer has delivered a number of apartment projects including Lucent, Le Bain, and Luminare, as well as the Long Island Wellness Precinct nearby. Several of those projects have received national design and architecture awards, including recognition under Brisbane’s “Buildings that Breathe” program.

Cavcorp unveils wellness-focused Teneriffe House and Teneriffe Lane apartment buildings

Focus Group Investments has lodged plans for a new apartment development at <a href="https://www.apartments.com.au/new-apartments/64-70-hanover-street-fitzroy-vic-3065">64–70 Hanover Street</a> in Fitzroy, seeking to utilise the Victorian Government’s recently introduced Great Design Fast Track pathway to accelerate approvals for the project.

The proposal is among the latest developments to emerge through the state-led initiative, which was established to fast-track well-designed residential projects in activity centres and transport-connected inner-city locations. The pathway allows qualifying developments that meet elevated design and housing benchmarks to bypass traditional council planning timeframes and instead be assessed directly by the Department of Transport and Planning.

Designed by SJB, the development will comprise a mix of apartments above activated lower levels, with a strong focus on architectural articulation, landscaping, and communal amenity. The design response seeks to balance the industrial character of Richmond’s former warehouse precincts with a more contemporary residential form.

<img alt="First look: Focus Group Investments taps Victoria’s Great Design Fast Track for Richmond apartments" data-entity-type="file" data-entity-uuid="abea51cc-d85b-479e-9aef-a589f3b37ca7" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/ground.png?VersionId=e1Kf8EyPWwyiVumtqQ4rM5S4GpOR3CCz" />

Proposed are 63 new dwellings, a wide ranging mix of studio, one-, two-, and three-bedroom apartments, and townhouses and duplexes. They will be spread across a part-three, part-eight storey building.

The Planning and Urban Context Report by Tract says the development is of an "exemplary architectural standard" and has been carefully crafted by SJB Architects.

"Dwellings&nbsp;will benefit from excellent access to natural light, cross-ventilation opportunities and extensive communal space," the report noted.

The architectural material highlights the project’s integration of landscaped elements and communal spaces throughout the building. The proposal also incorporates sustainability initiatives aligned with the Victorian Government’s push for higher-performing apartment developments under the fast-track program.

The Great Design Fast Track was unveiled by the Victorian Government in 2024 as part of a broader housing supply strategy aimed at accelerating the delivery of new homes. Projects assessed through the pathway must demonstrate high-quality architecture, sustainability outcomes, and housing diversity while being located close to public transport and existing infrastructure.

<img alt="First look: Focus Group Investments taps Victoria’s Great Design Fast Track for Richmond apartments" data-entity-type="file" data-entity-uuid="afdbe834-8dc4-4a77-a943-ba07bc927348" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/site_11.png?VersionId=0J657j.TaChAZfp93wqJYBTqSsnREJx2" />

Focus Group, founder and led by Paul De Lutiis, is increasingly active across Melbourne’s inner suburbs, targeting well-connected urban renewal locations suited to medium and higher-density residential development. The Fitzroy proposal continues that strategy, leveraging the area’s strong transport links, established retail amenity, and proximity to the CBD.

Fitzroy has been one of the most popular spots for developers and buyers in recent years. The likes of PACE Development Group, SMA Projects, Crema Group and Chapter Group, currently selling projects in the suburb.

First look: Focus Group Investments taps Victoria’s Great Design Fast Track for Fitzroy apartments

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Wodonga has fallen from the peak of the market for houses in December, joining the Central Coast, according to Herron Todd White (HTW). 
The valuation firm suggests that the six other locations at their peak are Albury, Bathurst, Canberra, Dubbo, Tamworth and the Sunshine Coast. No other market analysed is approaching the peak.
Kalgoorlie remained as a declining market while South West WA, joined Broome and Geraldton as they approach the bottom of the market.
There were four additions to the markets who have been deemed as at their lowest point, Adelaide, Adelaide Hills, Barossa Valley and the Southern Highlands joined Darwin, Perth and Towoomba, among others.
<a href="https://www.propertyobserver.com.au/images/2019/12/9/HTW%20House%20Clock%20DEC%202019.JPG" target="_blank">Click here</a> to enlarge:
<img src="https://www.urban.com.au/images/2019/12/9/HTW%20House%20Clock%20DEC%202019.JPG" alt="">
Lismore, Ballina/Byron Bay, Coffs Harbour and Bundaberg have all begun their recovery, joining 13 other locations including capital cities like Brisbane and Sydney.
There were no additions to the rising house markets with all nine locations holding steady over the month.
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j.ballantyne1990-6AQqhLzZaK

Wodonga has fallen from the peak of house market: HTW Clock

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Unit markets across Australia saw no significant movement over the past month, according to property valuation firm Herron Todd White (HTW).
The valuation firm's national property clock for December found that five locations remained at the peak of the market cycle for units.
Unit markets in Albury, Sunshine Coast, Wodonga, Tamworth and Bathurst remained at the peak. Bathurst has sat at the peak the longest.
No other markets are approaching the peak while a number of markets including Hobart, Launceston and Mildura have continued rising.
Lismore, Mackay, Melbourne, Newcastle, Illawarra, Townsville, Cairns and Geelong, among others are still just in the beginnings of a recovery.
<a href="https://www.propertyobserver.com.au/images/2019/12/9/HTW%20Unit%20Clock%20DEC%202019.JPG" target="_blank">Click here</a> to enlarge: 
<img src="https://www.urban.com.au/images/2019/12/9/HTW%20Unit%20Clock%20DEC%202019.JPG" alt="">
Canberra, Perth, Kalgoorlie and the Southern Tablelands continued declining while the Central Coast remains at the start of a decline.
Broome, Geraldton and South West WA have still yet to hit rock bottom, unlike Darwin, Adelaide, Brisbane and Sydney, which according to HTW are all at the bottom of the unit market
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Unit markets held steady over the month with no movement: HTW Clock

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Two of the best-known investor hot spots in regional South Australia are Whyalla and Roxby Downs.
Both have cyclical economies which are intrinsically linked to the supporting mining industries, according to a recent Herron Todd White (HTW) residential report. 
The valuation firm took a look at rental yields across the nation. 
Investors have been spooked from these locations in recent years as both markets entered a downward cycle.
"With the ability to enter the respective markets at historically low price points, investors are beginning to dip their toes back in.
"Yields of between 5% and 7% are common throughout both these regional centres," the valuation firm said. 
Achieving a weekly rental of $110, <a href="https://www.realestate.com.au/sold/property-house-sa-whyalla+norrie-130140254" target="_blank">13 Harvey Street, Whyalla Norrie </a>(pictured below) sold for $79,000 in January this year representing a yield of 7.24%.
<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/2019/11/4/whyalla%20norrie%20.jpg" alt="">
This property comprised a single level maisonette disposed as three bedrooms and one bathroom.
The report suggests property owners have options to increase yields by thinking outside the box.
Owner-occupiers can rent out the rear granny flat or the spare rooms which the kids have vacated.
Investors can privately manage their properties or offer their properties for rent on a per room basis.
Renting on a per room basis can be one of the greatest yield boosters and is most common for investors operating around university campuses.
"When owner-occupiers are looking for a dream home they lead with their hearts. Investors need to be more astute and lead with the head.
"Prior to making your property investment, invest in a calculator and a strategy that best suits you," the valuation firm said. 
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Whyalla and Roxby Downs seeing 5% to 7% rental yields: HTW residential 

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The Bundaberg residential market has remained typically flat throughout 2019, according to the latest Herron Todd White (HTW) residential report. 
However, there seems to have been a lot of interest in the residential market with agents searching for more stock as they have exhausted most stock on hand.
This renewed enthusiasm comes after what was seen as a federal election win that appears to assist investors.
The biggest value residential sale in the region was a house at Bargara on the waterfront known as the Glass House.
Located at<a href="https://www.realestate.com.au/sold/property-house-qld-bargara-130342238" target="_blank"> 51 Woongarra Scenic Drive, Bargara</a> (pictured below), it sold to a local farming and banking identity for $4.12 million setting a new record for the area.
<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/2019/11/25/bargara%202.jpg" alt="">
The house is an architectural masterpiece in a premium oceanfront location.
Placing an emphasis on beachside living, the Glass House is a multi-award winning architectural masterpiece of sophisticated style in a dream location.
It has five bedrooms, five bathrooms and parking for two vehicles.
The dwelling sits on a beach front property of 2,239 square metres fronting the sandy beach.
Bargara continues to be a sought-after location at the current time.
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Bundaberg residential market remains flat: HTW residential 

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The Cairns retail property market passed through the bottom of the cycle during the course of 2014, but the limited recovery thus far means that the retail property market remains relatively flat, according to the latest retail report from valuation firm Herron Todd White.
The property valuation firm found that it must be also said that retail property sales in Cairns are extremely sporadic, with most sales involving retail property of mixed use retail and office buildings or tenant buyouts of single premises.
The level of general commercial property sales in Cairns, inclusive of retail and commercial office premises, highlights that activity in the Cairns commercial market remains well below the levels achieved in the 2003 to 2007 period.
Sales volumes have been gradually rebuilding over the past nine years, but are still only averaging around 90 to 100 sales per annum.
The HTW report authors said, "median prices paid specifically for strata titled premises have increased mildly over the past seven years, but our general impression is that prices per square metre of floor area are mostly stable within the $2,500 to $4,500 range for strata units."
"High exposure CBD retail space remains reasonably well occupied, but vacancies are more noticeable in the lesser exposure locations and on the CBD fringe. Rents have remained generally stable, showing ranges of $600 to $800 per square metre per annum for prime CBD space and $1,000 to $1,750 per square metre per annum in key tourist precincts such as the Cairns Esplanade."
"Blue chip retail located within the main Esplanade tourist strip as well as the central business district show reasonably low vacancies, though there is also limited demand from new businesses."
"There remains good investor demand for well leased properties which rarely come onto the market."
"The Cairns retail property market overall has experienced little change thus far during 2019 and is expected to see little change for the remainder of the year," they concluded.
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Cairns retail property market remains stagnant: HTW Retail

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Retail leasing in Toowoomba has been relatively subdued in 2019 with vacancy rates within the CBD increasing, according to the latest retail report from valuation firm Herron Todd White.
The property valuation firm found that this is likely due to the completion of the QIC Grand Central Shopping Centre redevelopment in 2018. The centre doubled in size to approximately 90,000 square metres, introducing new discount department stores, supermarket and approximately 160 speciality stores, with the latter considered to have drawn businesses from the CBD.
Rentals appear to have been relatively static, although some lease incentives are available for long term commitments.
The historically low interest rates have resulted in a strong demand for retail properties by investors, however the lack of supply of quality, fully leased properties has limited the number of investment sales and has resulted in a firming of net yields over the past two years.
The report noted, "despite strong investor demand there have been no major retail sales in Toowoomba in 2019."
"This is due to a lack of supply with most property owners electing to hold on to assets with good lease covenants and secure cash flow," it added.
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Toowoomba retail market remains subdued in 2019: HTW Retail

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The Melbourne retail investment sales market has generally remained steady throughout 2019 with firm yields reflecting the limited availability of quality stock and solid purchaser demand, according to the latest retail report from valuation firm Herron Todd White.
They found particularly strong results for well located properties with long term leases to major national retailers and for those with longer term development potential. We have continued to see varied results throughout the wider market.
There have been a number of examples of heavily declining rents which, when coupled with already sharp yields, is resulting in downward pressure on capital values in some areas.
The Melbourne CBD retail market has experienced reasonable levels of leasing demand within the retail core. The Melbourne retail rental market continues to be impacted by changes in consumer behaviour and varied consumer confidence.
The HTW valuers said, "there has been an increasing level of tenant demand from food based operators and an ongoing decline in demand from consumer goods retailers throughout the Melbourne CBD, although we are aware of a possible oversaturation occurring within this sector."
"Subdued consumer spending is causing pressure on retailers’ occupancy costs and downward pressure on rents"
"Discussions with a number of leasing agents throughout Melbourne has identified an emerging trend whereby tenants are seeking to secure short initial terms, sometimes as short as one year, with a number of further option terms which allows for flexibility in the short term but some security and certainty to retain premises should the location prove suitable for the business."
"From a landlord’s perspective, these flexible leasing terms are attracting tenants, covering operating costs and providing for reviews to market should the leasing market improve."
"In addition to the above we have also witnessed a number of tenants being more aware of the impact that significant incentives have on the net effective rents. Tenants appear to now be more open to negotiating lower face rents in lieu of rent-free periods or fit out contributions which provides more transparency for the tenant and landlord," the valuers stated.
Downward pressures on rents in suburban retail strips persisted throughout 2019 with some areas such as Chapel Street continuing to experience high levels of vacancies coupled with decreasing rental rates.
The report authors added, "overall whilst demand for quality retail assets remains strong, particularly for well-located properties which have long term leases and strong lease covenants, there is evidence that tighter commercial lending criteria is restricting access to funds for many potential purchasers."
"Financial institutions are placing an increased focus on factors such as security of income, lease covenant and length of remaining lease term in assessing serviceability of debt."
"As a result of the reduction in the borrowing power of purchasers, we are beginning to see a slowdown in the constant price rises seen over the past five-year period," they concluded.
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Melbourne retail market steady at the peak: HTW Retail

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Newcastle retail activity has been defined by an unusual dichotomy where yields are at or near all-time lows, meaning values remain high, while the number of sales transactions has been very low compared to activity in peak market conditions from 2015 to 2018, according to the latest retail report from valuation firm Herron Todd White.
The property valuation firm found that some further discussion on the state of yields is required at this point. Well tenanted property with tenants that show strong trading history and long lease terms is still very strong and recent interest rate reductions by the Reserve Bank have helped underpin this strong market.
The report authors said, "we have seen, however, a (small) number of sales that indicate we have come back from peak market conditions, especially for those non-core retail properties that may reflect a higher degree of risk for the investor."
"Factors such as a secondary location, short lease expiry profile or partial vacancies were not being factored into yields during the market boom and the yield differential between core and non-core retail investment properties was not being adequately built into sale prices."
"We have seen a number of retail sales of such properties where yields have increased somewhat to reflect these risks. We see further adjustment required in this space, which is happening, albeit at a slow pace given the limited number of retail sales this year"
"We also anticipate this sales rate to increase somewhat in 2020 with a further easing of lending policy from major lenders. Now that the light rail has been up and running for some time, we see that a number of retailers on Hunter Street have suffered. Not only during the construction phase, but now with no parking available where the light rail runs along Hunter Street, many retailers have been forced to shut up shop or landlords are now in a position where they either accept lower rental returns or face extended letting up periods."
"We see these areas being converted from retail to office in coming years," they concluded.
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Newcastle retail property yields are at all time lows: HTW Retail

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The retail market in Sydney has seen moderate growth over the past twelve months as a result of increased demand for good investment assets, growth in rental income and generally lower vacancy rates, according to the latest report from valuation firm Herron Todd White (HTW).
They found that some retail precincts and shopping centres are working hard to keep up the levels of foot traffic and as such are adapting to changes in the market and demand. This has helped to retain vacancy in some areas.
The HTW report authors said, "we are of the opinion that those landlords who adapt to the changes in the market may fare best."
"Food and beverage outlets have certainly been popular this year. This part of the market has been driving tenant demand."
"As a result of adaptation and increase in demand from food and beverage retailers, we have seen rental rates remain generally stable this year following a general increase in 2018."
Despite the continued threat of online shopping and generally negative perception of the retail market, The Sydney CBD remains strong, as infrastructure improvements and new development continue and speculation about the impact of these continues to drive areas of the market.
Within the CBD, tenant demand originates from high end and luxury goods as well as food and beverage, with retailers keen to secure their positions within the CBD as infrastructure improvements, mainly the light rail, get closer to being completed and the pedestrian shopping areas of the CBD are revitalised.
Retail assets with good lease covenants have seen capital growth over the past twelve months.
Demand from investors was the driving force in the market this year.
The valuers noted, "properties with well-established retail tenants and those with underlying future development potential were the most popular."
"We saw an increase in capital values in the early part of the year and some strong sales with relatively low capitalisation rates."
"We caution however that from around July this year we have started seeing a decline in the fringe and secondary markets, in particular a slight increase in capitalisation rates, indicating that demand is slowing and that capital values are declining," they concluded.
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Sydney retail market continues to grow without peaking: HTW Retail

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Moving towards the latter part of 2019, the Central Coast region is seeing a little more stability in the residential market, according to the latest Herron Todd White (HTW) residential report.
The valuation firm took a look at rental yields across the nation. 
The report notes there is still the occasional outlier sale, but stability can be seen across all phases of the market.
The stability brings a good opportunity to look at where values are sitting and in the case of this month’s submission, where yields are sitting, the valuation firm said. 
"We generalise yields across several sectors of the market to include normal residential, prestige market and the holiday letting market," it said.
"No surprises that normal residential dwellings and units in the suburbs provide the bulk of rental accommodation."
Four-bedroom, new or newish project style dwellings towards the northern end of the region in suburbs that include Hamlyn Terrace, Woongarrah and Wadalba are showing yields in the vicinity of 4.5% to 5% gross.
In the older established locations and closer to the lakes and beaches, such as Bateau Bay, gross rental yield varies from 3.5% in the higher value bracket to 6% in the lower priced property segment.
The report suggests the unit market across the Central Coast Region is well established and like most of the eastern seaboard, it is expanding.
New developments are a prominent feature in the Gosford CBD and we can see that gross yields of between 4% and 5% can be expected.
The beachside suburb of Terrigal is a popular tourist and weekend destination, but it is also home to many living and working on the coast.
Gross yields on units seem to be hovering around the 4% mark at present.
"The Wyong unit market has traditionally been a solid investment choice and at the moment we are seeing gross yields varying anywhere from 5% to 7%," the valuation firm added. 
House and granny flat (secondary dwellings) have been popular in the peninsula suburbs of Umina Beach and Woy Woy for several years now.
This type of property is typified by an older dwelling, sometimes renovated and sometimes not, with a new granny flat erected within the rear yard area and accessed via the rear lane way.
A sample of this property from our records indicates that yields are around 5% to 6%.
"There have been some instances of 7% being obtained, but we believe a more representative level of yield to be slightly lower than this," the valuation firm said. 
In regard to the holiday letting market, getting a true market yield depends on a number of factors, least of which is disclosure of income to the market and that is a rare thing.
Other factors that can affect yields include the location, user reviews of a particular property, non-availability due to repairs and of course, occupancy rates.  
"There are more factors, but these are the ones we hear the most about," the valuation firm stated. 
"We hear and see yields ranging from sub-4% to well over the 10% mark.
"The end result for holiday lettings is that we find that the data is limited and too unreliable to make a call on yields." 
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