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.

Joel Robinson

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

The Gold Coast Planning Committee has supported the preliminary approval for the Benowa Gardens Urban Village project following an extensive community consultation and assessment process.

The proposal will now proceed to a full council vote on June 2.

The application sought approval for a masterplanned urban village on the existing Benowa Gardens Shopping Centre site, combining new housing, retail, dining, health and lifestyle amenities within a walkable, integrated precinct.&nbsp;

The proposed redevelopment includes around 413 apartments integrated above a revitalised mixed-use centre featuring a full-line supermarket of 4,000 sqm, 6,000 sqm of specialty retail and dining space across around 30 retailers, a 7,000 sqm health and wellness precinct, and roughly 9,630 sqm of office and medical suites.&nbsp;

<img alt="$1b Benowa Gardens Urban Village moves to Full Council following Planning Committee support" data-entity-type="file" data-entity-uuid="fb36ae47-80bc-45f0-9914-31b0c7b6007d" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/PR26576%20Ashmore%20Road%20C4%201121%20FI.jpg?VersionId=6mRKk2uU4r67TmTt39DKGUlvFRbTVqWa" />

The broader masterplan also includes very significant traffic and transport improvements, wide pedestrian walkways, upgraded pedestrian and cycle connections, and enhanced public areas designed to create a more connected and walkable community environment.&nbsp;

Centre owner Patrick Lu said the milestone reflected months of detailed planning, technical assessment and ongoing communication with local residents, businesses, schools and stakeholders.

“We appreciate the time, consideration and care Council officers and the Planning Committee have given this proposal throughout the assessment process,” Lu said.

“We also sincerely thank the local community for engaging with us, sharing feedback and participating in the consultation process over many months.

<img alt="$1b Benowa Gardens Urban Village moves to Full Council following Planning Committee support" data-entity-type="file" data-entity-uuid="32fd1fc3-d0e6-485f-ac57-9916c9bcb818" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/PR26576%20Ashmore%20Road%20C5%201121%20FI_2.jpg?VersionId=fz8qQKDBLQ7MyFRc856Zccfbh9nFwLOe" />

“We understand projects of this scale bring questions and concerns, which is why we have worked hard to listen carefully, provide information transparently and continue refining elements of the proposal where possible.

“Our vision has always been to create a well-designed, community-focused urban village that responds to the changing needs of the Gold Coast, while delivering improved amenity, housing diversity, healthcare access and local lifestyle benefits.

“This proposal is about creating a genuine live-work-play environment where residents can access everyday services, schools, healthcare, dining, shopping and green space within walking distance, while also supporting local jobs and economic activity.”

<img alt="$1b Benowa Gardens Urban Village moves to Full Council following Planning Committee support" data-entity-type="file" data-entity-uuid="50dfbd04-590e-4fc6-983b-766880947867" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Dining%20Day%20Time%20-%20High%20Resolution.jpg?VersionId=BP7ZoKJ0DdL_8iRkkC8VVx99moICV6kg" />

Lu said the proposal had evolved significantly through consultation and technical review, particularly around traffic, pedestrian and student safety and neighbourhood connectivity.&nbsp;

Melissa Griffin, Director at Urbis, said the recommendation recognised the strategic importance of delivering more housing and services within established urban areas already supported by infrastructure.

“This proposal represents the type of thoughtful, integrated growth that planning frameworks across South-East Queensland are encouraging,” Ms Griffin said.

“The project seeks to place housing, retail, healthcare and employment opportunities together in a highly accessible location close to schools, transport and existing services.

“Importantly, the process has involved significant technical assessment and community engagement to ensure local issues and feedback were properly considered throughout the planning pathway.”

$1 billion Benowa Gardens Urban Village heads to council vote following Planning Committee support

Surfers Paradise is officially set for its first new residential development with a 45-storey skybridge connecting the two towers.

John Camilleri’s Celestino Developments has been given the green light by the Gold Coast City Council to develop its major beachfront precinct across its huge 4,000 sqm oceanfront site at <a href="https://www.apartments.com.au/new-apartments/63-79-garfield-terrace-surfers-paradise-qld-4217">63–79 Garfield Terrace</a>, just five months after its <a href="https://www.apartments.com.au/news/qld/first-look-exclusive-billionaire-winx-breeder-s-bold-two-tower-surfers-paradise-play-with-45th-storey-skybridge">submission in late 2025</a>.

The approved scheme will deliver two towers rising 55 and 48 storeys, connected by a skybridge positioned on level 45 that will house a range of resident-only wellness and entertainment spaces.

In its notice of approval, the Gold Coast City Council said the&nbsp;proposed overall built form has been designed to complement the scale, intensity and protect the adjacent amenity and surrounding streets through the use of varied setbacks, site cover and architectural elements.

<img alt="First look exclusive: Billionaire Winx breeder’s bold two-tower Surfers Paradise play with 45th-storey skybridge" data-entity-type="" data-entity-uuid="" src="https://res.cloudinary.com/dz9xllyip/image/fetch/f_auto,c_limit,w_1440,q_75/https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/field/image/Screenshot%202025-12-30%20at%209.53.48%E2%80%AFAM.png?VersionId=ADyPJ_TFbJvSU9wZFOiCBnlPtgF7VWqW" />

Designed by <a href="https://www.apartments.com.au/architects/dbi">DBI</a>, the development will comprise 275 apartments across the two towers, including a mix of two-, three-, and four-bedroom residences, as well as several penthouses. The apartments will sit above a landscaped podium featuring more than 90 metres of beachfront pool frontage, private resident lawns, lounges, and wellness spaces.

DBI said the design draws heavily from the movement and form of the coastal environment, with curving balcony lines and sculpted façades intended to soften the scale of the towers while maximising ocean outlooks and passive shading outcomes.

“The project occupies a rare, uninterrupted oceanfront site and has been shaped by a design philosophy that merges architectural elegance with environmental responsiveness and a carefully curated lifestyle experience,” DBI said in planning documents submitted to the Gold Coast City Council.

The most distinctive element of the approved project is the skybridge linking the two towers at level 45. The elevated communal space is planned to include executive lounges, formal dining areas, wellness facilities, and panoramic ocean-facing outlooks.

“The skybridge enhances the identity of the development, promotes social interaction, and delivers a lifestyle experience not found elsewhere on the Gold Coast,” DBI said.

At podium level, residents will have access to a suite of resort-style amenities, including resident lounges, private dining rooms, a yoga lawn, gymnasium, plunge pools, and treatment spaces. The beachfront pool has been designed with separate lap, lounge, and children’s areas extending across the width of the site.

The project will also introduce new food and beverage offerings along the Enderley Avenue and Oceanway frontages, contributing additional activation to the beachfront precinct.

First look: Winx billionaire’s beachfront Surfers Paradise apartment development greenlit

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Nationally, current supply pipelines based on what is under construction and being marketed suggests supply will fall by around 20% over 2018 and by around the same amount again in 2019, according to JLL.
JLL’s latest Apartment Market reports for 1Q18 highlights that Australia’s major apartment markets are at very different stages of the cycle, but all markets are dealing with slower investor demand and tighter development lending conditions.
These factors have resulted in a thinning out of supply pipelines in all markets and means inner city apartment supply will fall in 2018 and 2019 from the highs of 2017.
JLL data suggests that around 26,600 new apartments completed in 2017 across inner city areas monitored in Sydney, Melbourne, Brisbane, Perth and Adelaide.
Click here <a href="https://www.propertyobserver.com.au/images/2018/5/16/pipeline.jpg" target="_blank">to enlarge.</a>
 
<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/2018/5/16/pipeline.jpg" alt="">
Current supply pipelines based on what is under construction and being marketed suggests supply will fall by around 20% over 2018 and by around the same amount again in 2019.
Leigh Warner, JLL’s head of residential research in Australia, says ultimately the shift in development focus is a good thing.
“There is no doubt that with slower investor demand it is now a very challenging environment for developers to meet pre-sales hurdles and progress the very large CBD and near-CBD projects that have typified this cycle," Warner said.
"Many of these projects have already been postponed to later cycles, abandoned, changed to alternative uses, or substantially redesigned to be a more manageable size in the current market.”
Nevertheless, development is not stopping and JLL’s reports highlights that the focus of developers in most markets has shifted from high-density to more medium-density projects, often in suburban infill locations and with high quality finishes to target the owner-occupier market.
“The decline in the inner city supply pipeline will be a much needed breather for most of our major markets and help them absorb the strong level of supply added over the past few years. But at the same time, strong population growth and the need to densify our cities, mean that we do need to keep building apartments or else supply will fall behind demand once more and price pressures will continue to plague our major cities.”
JLL’s 1Q18 reports continue to show large differences in where pricing and fundamentals are across the market. Sydney and Melbourne continue to both record low rental vacancy in spite of recent strong supply levels, but Sydney has shown more evidence of slowing apartment price and rental growth over recent months. 
“Sentiment has clearly softened in the Sydney market and the market appears to be stalling now. However, Melbourne keeps on chugging on and showing remarkable resilience to recent supply levels. There is some moderate pressure on re-sale values in and around the CBD where recent supply has been particularly strong, but overall Melbourne’s strong population growth appears to be still cushioning the market from wider downward pressure.”
The reports also highlight that the Brisbane’s market appears to be stabilising after the worst of the supply wave is over and prices start to flatten out after 12-18 months of decline. Perth prices continue to fall, but there is also increasing evidence that it has passed the worst. This is evident in a recent rise in inner city apartment approvals, particularly for luxury apartments aimed at the owner-occupier market, which shows developers are gaining more confidence to start preparing for the next cycle.
Adelaide and Canberra are slightly less progressed in the current cycle and prices are still growing solidly despite elevated development activity. Momentum has slowed slightly in both markets over recent months, but the short-term outlook remains solid.
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jonathanchancellor-7SQnKwU6yx

Inner city apartment supply past the peak: JLL

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<div>
Commercial property agency JLL's Australian arm have seen revenue rise for the eighth consecutive year.
Revenues were up 17 per cent in the 2017 calendar year on 2016, with profits 18 per cent in the past year.
The Australian Financial Review said the result was led by contributions from JLL's facilities management business.
Facilities management revenues rose 67 per cent year-on-year after the agency won large government outsourcing contracts.
</div>
<div>Its chief executive of JLL Australia, Stephen Conry, said the company's whole of Australian government contract win covering 34 government entities and its Victorian government contract win covering 276 properties were behind the large increase in revenue from facilities management.</div>
<div> </div>
<div>The agency booked a 13 per cent lift in its property management fees.</div>
<div>
JLL's investment sales business had revenues up year-on-year by 10 per cent
The commercial real estate agency booked a record full year revenue of $US7.9 billion in its global operations.
</div>
<div>
In its Asia Pacific business, revenue rose 20 per cent to $US1.6 billion and fee revenue was up 14 per cent to $US1.2 billion.
The increase in 2017 fee revenue was led by Greater China, Australia, India and Japan, the company said. 
Meanwhile US listed real estate agency CBRE recorded an all-time high for both revenue and earnings in 2017, driven by occupier outsourcing and leasing fee revenue.
<div>
Global revenue hit $US14.2 billion ($18 billion), an increase of nine per cent, with CBRE's Pacific business reporting a record revenue result in the fourth quarter after a nine per cent increase in revenue compared with the previous corresponding quarter.
CBRE's president and chief executive for the Pacific, Ray Pittman said the performance was driven by brokerage and professional services teams.
</div>
<div>
However, APAC sales revenue fell seven per cent compared with the fourth quarter of 2016, when sales had surged 42 per cent.
</div>
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j.ballantyne1990-6AQqhLzZaK

JLL Australia see revenues rise for eighth year

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JLL has been named Property Service Provider under the Whole of Australian Government (WoAG) property procurement tender.
JLL will provide integrated facilities management services to 34 government agencies, spanning more than 3.6 million square metres across more than 3200 leased and owned properties.
Steve Mackintosh, JLL’s Head of Government Business, said JLL has been providing property services to Australian Federal Government Departments for over twenty years.
“JLL was selected for this latest significant Government property portfolio following a competitive tender and this appointment reinforces our strong position in the government sector in Australia," he said.
“The appointment will also showcase the specialised skills of JLL in a comprehensive range of property management services, including contractor management, lease acquisition and administration, facility management services, procurement, help desk, environmental management, financial services and reporting.”
Chris Hunt, JLL’s Managing Director, Integrated Facilities Management, Australasia, said these major new Federal Government contracts build on the firm’s strong platform of Government clients.
“The Whole of Australian Government property procurement tender has allowed us to aggregate work and put much more efficient teams together to work across major departments.”
Evolve FM—a joint venture with PSG Holdings where JLL is the minority stakeholder —has also been appointed as a provider.
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JLL to hold large Federal Government property portfolio in Australia after major wins

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JLL Hotels &amp; Hospitality Group have announce the biggest Sydney pub deal for nearly six years with the simultaneous sale of the Hunters Hill Hotel and Tiger Bar Hotel Hurstville.
Iris Capital and Gallagher Hotel Management have bought two key Sydney hotels with a combined value of $65 million, to expand their footprint in the hot pub sector.
The sales come at an interesting time for the hotel industry with Redcape groups mooted $700m sale of their 26 venue hotel portfolio to Moelis Capital, John Singleton’s Australian Pub Fund continuing their attempts for a portfolio sell down and KKR, debt provider to the ill-fated leasehold Dixon group, reportedly seeking capital solutions after recently shelving IPO plans.
National Director John Musca who negotiated the sale stated that "the asset transactions are manifest examples astute divergence in investment and operating strategies of two highly respected industry stakeholders at a particular point in time, reflecting class-leading thinking on both their parts".
Opened in 2012 the Tiger Bar Hotel resides adjacent to the Hurstville bus and train stations in a precinct benefitting from a new LEP and residential intensification.
It includes public bar, TAB, gaming room and upstairs restaurant and is a consistently high-ranking NSW gaming venue.
Along with the neighboring Ritz and Meridian Hotels, the Tiger Bar has become a cornerstone entrainment venue for the Hurstville Forest Mall retail and business core.
The hotel was purchased by Iris Capital where a change in group focus has seen their property and business empire rapidly expand to include extensive development and broad-acre land interests across NSW.
This includes their recent success in winning the tender to acquire the East-End Newcastle city site master planned to include circa 700 residential apartments, a possible five star hotel and over 10,000m2 of retail space.
The regeneration is considered by many as being a catalyst for the evolution of the Newcastle CBD and has involved extensive community and council consultation.
The Hunters Hill Hotel was central to the most significant town centre redevelopment the precinct has ever seen and was extensively renovated and extended in conjunction with a new mixed-use 55 residential apartment, car park and retail complex in 2014.
The hotel sale included a separate 120 bay carpark and situated on a 5000 sqm site, came with approval to develop 4 more luxury rooftop apartments offering spectacular Harbour Bridge views.
It was purchased by Gallagher Hotel Management who under the careful stewardship of popular and awarded principals Patrick and Angela Gallagher, have steadily emerged as one of the industry's most respected hoteliers.
The group now adds the landmark Hunters Hill asset alongside another of their most recent icon acquisitions the Terrigal Hotel, purchased in May for $28 million.
"Much like the Oaks Hotel in Neutral Bay and the Golden Sheaf Hotel in Double Bay the Hunters Hill Hotel is a cornerstone, integral community establishment and a truly generational asset the likes of which are rarely traded", Mr. Musca said.
 
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Iris Capital acquire Tiger Bar Hotel Hurstville

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Alceon Captrans JV have sold regional Brisbane shopping centre, Town Square Redbank Plains for an estimated $160 million to Singapore based Rockworth Capital Partners.
Simon Rooney, JLL’s head of retail investments for Australasia said he is seeing a very clear trend towards offshore investors increasingly driving acquisitions of quality Australian sub-regional assets – a trend that’s been building and gaining momentum in 2017.
“Sub-regional retail is the preferred asset class for many offshore groups seeking quality retail exposure, given the defensive and resilient characteristics and positive in built growth outlook," he said.
"Assets which are predominately food, service and convenience-based, with a high proportion of non-discretionary retail and limited fashion, offer enhanced and consistent returns and limit trading volatility.
"The lower rental profile of sub-regional centres also provide attractive opportunities for income and capital growth, via asset repositioning and tenancy re mixing.
“The comparative attractive yield profile available in the Australian retail sector, continues to offer strong relative value for offshore investors as evidenced by the recent transactions of Town Square Redbank Plains to Rockworth Capital and Casey Central, also sold by JLL to M&amp;G Real Estate.
“Domestic institutions are also keenly pursuing sub-regional centres to secure above-benchmark total returns through active management and asset repositioning.
“The latest being the Charter Hall acquisition last week of Salamander Bay (NSW) for circa $175 million and reinforces the significant current interest in the sub-regional sub-sector.
Recent major sub-regional transactions above $50 million:
<table border="1" cellspacing="0" cellpadding="0"><tbody>
<tr>
<td>
Centre
</td>
<td>
Purchase price
</td>
<td>
Cap Rate
</td>
<td>
Sale date
</td>
<td width="68">
Vendor
</td>
<td width="71">
Purchaser
</td>
</tr>
<tr>
<td>
Redbank Plains Town Square, QLD
</td>
<td>
$160,000,000
</td>
<td>
6.25%
</td>
<td>
Dec-16
</td>
<td width="68">
Alceon Captrans
</td>
<td width="71">
Rockworth
</td>
</tr>
<tr>
<td>
Salamander Bay Centre, NSW
</td>
<td>
$174,500,000
</td>
<td>
5.80%
</td>
<td>
May-17
</td>
<td width="68">
Vicinity
</td>
<td width="71">
Charter Hall
</td>
</tr>
<tr>
<td>
Arana Hills Plaza, QLD
</td>
<td>
$67,100,000
</td>
<td>
6.00%
</td>
<td>
Dec-16
</td>
<td width="68">
ISPT
</td>
<td width="71">
Charter Hall
</td>
</tr>
<tr>
<td>
Casey Central, VIC
</td>
<td>
$220,750,000
</td>
<td>
5.25%
</td>
<td>
Dec-16
</td>
<td width="68">
Scentre Group
</td>
<td width="71">
M&amp;G
</td>
</tr>
<tr>
<td>
Campbelltown Mall, NSW
</td>
<td>
$197,000,000
</td>
<td>
6.00%
</td>
<td>
Sep-16
</td>
<td width="68">
Perron Group
</td>
<td width="71">
Charter Hall
</td>
</tr>
</tbody></table>
“Combined with the current circa $3.5 billion Blackstone retail portfolio sale process, the current series of transactions would be expected to drive retail investment activity in Australia to a new record high in 2017.”
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Australia's sub-regional retail sector continues to attract strong offshore and domestic demand

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Three key concerns among shopping centre managers that continue to impact on their sentiment are competition, online retailing and fuel prices, according to a national JLL Retail Survey.
The main concerns being highlighted by centre managers as impacting their future turnover performance were ‘competition from other centres’ (with a net balance of -40), ‘online retailing’ (-29) and fuel prices (-23). 
Major fluctuations of fuel prices in recent months have created the issue of shopping centre managers.
JLL’s 16th Retail Centre Managers’ Survey was undertaken in February across 109 JLL-managed retail shopping centres nationally.  
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The most positive factors continue to be ‘changes to tenancy profile’, ‘growth expectations within the trade area’ and ‘planned refurbishment activity’.
Head of Property &amp; Asset Management – Australia, Richard Fennell said that the key strategy for many centre managers is to provide a strong food retailing mix. 
Overall tenant enquiry remains subdued, according to Fennell, however enquiry from fresh food and food catering tenants is buoyant. 
He said quality food offering including cafes gives customers a reason to stay longer in centres.
JLL retail figures are showing positive signs of vacancy improving for both sub-regional and neighbourhood centres. 
Neighbourhood centre vacancies improved from 3.7% in June 2016 to 2.6% in December, well below the long-term average of 4.6%  
Sub-regional vacancies improved from 3.5% to 3.0% but remains above the long-term average of 2.2%.
Fennel said that with strong competition from new centres impacting some centres across the JLL portfolio, the reduced vacancy rate reported across neighbourhood and sub-regional centres was a positive outcome.”
The JLL Survey Report identified speciality fashion as being a challenging sector, particularly in larger sub-regional centres where apparel has traditionally been a significant category. 
In part, the decline of this sector has been offset by a stronger focus on non-retail services such as medical centres, financial services and travel agencies.
Completions in 2017 in the major capital city markets are forecast at 416,000 square metres and this is expected to heighten competition in the retail sector.
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Competition remains the key theme impacting sentiment of shopping centre managers

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There has been an increase in the number of shopping centres having some form of casual leasing, according to JLL’s latest retail report.
This annual report highlights the retail market industry and the views of retail centres managers view points on how the retail industry is doing.
Casual mall leasing is an important element in shopping centres with 91% of centres surveyed indicating having some form of casual leasing, up from 86% in the previous survey conducted in August 2016.
Vending machines remain the most common form of casual mall leasing closely followed by casual retailers, media advertising and “kiddie rides”.
Casual leasing is a small but important means of generating additional income for landlords, with many centres having budgets to meet from this revenue source.
Casual mall retailers, or “pop-up” retailers, were identified in 57% of centres, often occupying vacant tenancies or kiosks.
Some respondents indicated success in converting casual retailers into permanent tenants, which has been a positive outcome for the centre as well as the tenant.
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60% of respondents indicated that their centres had current opportunities for casual mall leasing and 57% indicated they had received enquiries for casual leasing over the last six months.
This is down on enquiry levels for the six months to June 2016 (68%) although the report notes that centres with enquiry indicated their level of interest had increased.
The most common enquiry came from charity organisations, with 39% of centres indicating they had received enquiries from such groups over the last six months.
Of the retail enquiries, giftware and fashion were the two largest groups.
The level of enquiry from food and beverage operators was relatively low despite this category dominating overall tenant enquiry in centres.
Food and beverage operators are more willing to make the permanent commitment up-front while fashion and giftware operators have either short-term needs or desire to test the market first.
The low upfront costs offered by casual leasing provides such an opportunity.
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Other enquiries have come from a range of local businesses, services and sporting groups.
This brings an element of the local community into shopping centres, and helps to build the centre’s attraction as a community hub.
There is a continued need for a balance between providing opportunities for new and exciting tenants that may invigorate a mall and ensuring the mall remains pleasant to customers.
Quality of presentation and aggressive “pledge” operators remain the major concerns that need addressing.
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Number of Australian retail centres with casual leasing increases: JLL

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A building in the suburban Brisbane masterplanned Lakes Vista Office Park, located in North Lakes,  has sold for $6.75 million.
Building 12 incorporates 1,382 square metres of office and retail space, as well as 46 car park bays.
The property was purchased by Stronghold Investment Management, headed by Steve De Nys and Tony Boyd.
The sale realised an initial yield of 8.29%.
Once fully developed the office park, located just over 25 kilometres north of the Brisbane CBD, is planned to have approximately 13,228 square metres of commercial accommodation.
JLL’s Christian Sandstrom said the sale was indicative of the strength of the suburban office market in the city, with over $100 million worth of office buildings being transacted in 2016.
“Designated office parks in Brisbane have matured, with more experienced investment groups having accepted them as a designated office/employment precincts and we believe they will become increasingly popular by investors,” said Sandstrom.
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Surburban Brisbane office building sells for $6.75 million

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Rental growth remains positive but is below 2% across the JLL neighbourhood and sub-regional centre portfolios, according to JLL’s latest report.
This annual report highlights the retail market industry and the views of retail centres managers on how the retail industry is doing.
Annual rental growth in neighbourhood centres rose from 0.7% in June 2016 to 1.2% in December 2016.
Annual rental growth across the sub-regional centre portfolio declined slightly from 1.8% in June 2016 to 1.5% in December 2016.
However, a number of centre managers highlighted that many tenants had expectations of reduced rents and generous incentives at the end of their current lease term, citing alternative options in neighbouring centres should their expectations not be met.
Rental growth was mixed amongst JLL managed centres, with a third of centres experiencing a decline in average rents and the remaining two thirds reporting an increase.
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Respondents were asked to compare the level of tenant enquiry over the last six months (to December 2016) with the previous six- month period (to June 2016).
Figure 4 highlights the “net balance” in enquiry levels between December 2011 and December 2016.
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Tenant enquiry remained below the neutral 0.0% mark, with a net balance of -6.4% compared with -7.8% in June 2016.
This is the second survey in a row of negative results after four surveys where the net balance was in positive territory.
The results highlight a continued challenging market with relatively subdued tenant enquiry levels.
Overall, response was very similar to the previous Survey covering the six months to June 2016.
Most respondents indicated no change in enquiry levels in the second half of 2016.
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Enquiry continues to be dominated by 'mum and dad' retailers, which reflects both the high number of neighbourhood centres within the centre managers’ survey and the cautious approach being taken by national chains to expansion.
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As with recent surveys, the stand-out sectors continue to be food based retailers and casual leasing.
However, enquiry in these sectors has been stable with at least half the respondents stating that enquiry was moderate, strong, or very strong.
There is a slight improvement in enquiry levels in the discount variety sector.
Japanese groups such as Daiso have been active in this space.
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Retail rental market remains positive despite meagre growth: JLL

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Average sales turnover has declined slightly over the 12 months to December 2016, according to JLL’s latest retail report.
This annual report highlights the retail market industry and the views of retail centres managers view points on how the retail industry is doing.
Turnover in sub-regional centres declined by 0.3% although specialty turnover improved marginally by 0.4%.
The continued poor performance of discount department stores (Kmart being the exception) has impacted sub-regional centre sales.
This is reflected in recent results for the first half of the 2016-17 financial year compared with the corresponding period the previous year:
<ul>
<li>Big W comparable store sales declined by 6.3%;</li>
<li>Target comparable store sales declined by 18.2%;</li>
<li>Kmart comparable store sales increased by 5.7%;</li>
<li>Coles food &amp; liquor comparable sales increased by 1.3%;</li>
<li>Woolworths comparable store sales increased by 1.9%.</li>
</ul>
Vacancy rates in sub-regional centres were also higher in 2016 than in 2015 despite improvement in the second half.
This may have had a slight negative impact on performance during 2016.
Annual neighbourhood centre sales declined by 1.3%.
While competition between supermarkets has been particularly strong and was often noted as a concern by Centre Managers, some centres have seen a range of non-retail services such as medical centres, financial services and travel agencies that do not report sales replace retail stores.
This change in tenancy mix may have impacted overall turnover but may have been a positive for the centre in terms of providing the services customers want at their local centre.
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Retail trade across Australia grew by a modest 3.5% in 2016.
When new centre openings, expansions of existing centres and the continued expansion of global retailers such as Costco, ALDI and fast fashion labels is taken into account, competition for the retail dollar is very strong.
The key area of weakness has been department stores, which managed growth of just 0.6% in 2016.
Discounting amongst supermarkets has kept growth in the supermarket sector to a low 2.6% in 2016, despite relatively strong growth in new supermarkets as the major players fight for market share.
The level of new supply across the neighbourhood, sub-regional and regional centre markets of Australia’s major capital cities was relatively high in 2016 at 347,000sqm.
Even more supply is in the short-term pipeline, with completions expected to peak in 2017 at 416,000sqm.
This will serve to heighten competition in the retail sector.
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