<a href="https://www.apartments.com.au/developers/draycon">Draycon Building</a> is nearing completion of Boutique Chevron Island, a 42-apartment development on the northern end of Chevron Island at 17–19 Parneno Street, with a limited-time offer of fully furnished apartments available.

Now more than 90 per cent complete, <a href="https://www.apartments.com.au/buildings/boutique-chevron-island-17-19-parneno-chevron-island-qld-4217">Boutique</a> has been shaped by one of the Gold Coast’s most tightly held island addresses, where riverfront outlooks and walkable access to Surfers Paradise converge.

For Draycon Building Managing Director Howard Dabit, the appeal of the site was immediate.

“I knew it was a good site as soon as I saw it,” Dabit said.

“The position and location on the north end of <a href="https://www.apartments.com.au/developments/chevron-island-qld-4217">Chevron Island</a>, the way the river swirls around the site basically from the north to the east, it feels like the site is surrounded by the water. The height that we’ve got and the aspect looking north is beautiful. Eighty per cent of the apartments are looking north so they get that drenching sunlight coming in.”

[smartcode_project:default project_id=89709 project_image_fid=360922]

That northern orientation places the development within a stretch of Chevron Island defined by open river aspects and skyline views, while remaining embedded in the suburb’s established village setting.

Chevron Island has increasingly drawn owner-occupiers seeking centrality without the intensity of high-rise beachfront living. Positioned at the geographical centre of the Gold Coast, the island offers direct access to both the beach and key cultural infrastructure while retaining a neighbourhood-scale character.

Connected by bridge to Surfers Paradise, Chevron Island offers walkable access to beaches, riverfront parklands and a revitalised foreshore boulevard animated by walkers and cyclists throughout the day. The Pacific Ocean is only minutes away, reinforcing the suburb’s dual river-and-surf identity.

At the same time, Thomas Drive forms the spine of the island’s village life, delivering cafés, wine bars, casual dining and everyday services within easy reach. Independent grocers, wellness operators and neighbourhood retailers contribute to a community atmosphere that remains distinct from the vertical scale of the beachfront.

[smartcode_project:default project_id=89709 project_image_fid=360915]

In the opposite direction, the Green Bridge links directly to HOTA – Home of the Arts – placing galleries, performance venues and parklands within walking distance. Weekly markets and major exhibitions draw visitors from across the region, while residents return to a quieter residential pocket at day’s end.

Public transport, including nearby bus routes and the G:link light rail corridor along the coastal spine, strengthens connectivity north and south. Griffith University, the Gold Coast University Hospital precinct and established private schools such as The Southport School are all within a short drive.

Ongoing investment across Surfers Paradise, HOTA and the broader Southport corridor has elevated amenity while preserving Chevron Island’s comparatively low-rise residential character. It is this balance, walkable village atmosphere paired with metropolitan-scale infrastructure, that continues to differentiate the suburb from higher-density beachfront precincts.

Boutique comprises just 42 residences, designed to maximise river and skyline outlooks within this tightly held island setting.

Boutique Chevron Island is slated for completion in April 2026, with prices starting from $1,220,000.

[smartcode_project_cta:default project_id=89709]

Joel Robinson

Draycon Building’s Boutique Chevron Island places 42 residences at the heart of the Gold Coast

Sydney developer <a href="https://www.apartments.com.au/developers/deicorp">Deicorp</a> has secured planning approval for a $300 million residential development in Lindfield, marking the company’s second project on Sydney’s North Shore and its first on the Upper North Shore.

Located on Beaconsfield Parade and designed by DKO Architecture, the state significant development comprises three buildings of up to 10 storeys and will include 399 residences, including 59 affordable homes and 40 adaptable homes.

Residences will range in size from one, two and three bedrooms, with two-bedroom apartments accounting for over 60 per cent of the product make-up. Residents will have access to a broad suite of amenities, including a wellness area, indoor and outdoor recreational spaces, a pool, a gym, a community room and a golf simulator.

In line with Deicorp’s long-standing focus on creating transit-oriented communities, the project is located just 260 metres from the Lindfield Train Station, reinforcing its role in delivering well-connected housing close to established infrastructure, retail and local services.

The inclusion of affordable and adaptable housing supports greater diversity within the local market, while the mix of apartment types responds to demand from downsizers, young professionals and families seeking access to the Upper North Shore.

Deicorp Founder Fouad Deiri OAM said the approval represents an important milestone for both the company and the suburb

“This approval allows us to deliver well-designed homes in a location that is already supported by strong transport and community infrastructure," Deiri said.

"Our focus is on creating places that integrate into their surroundings and provide long-term value for residents, and the broader Lindfield community. Being within walking distance of the station ensures this project supports sustainable growth in the right locations."

Across its portfolio, Deicorp currently has 4,703 apartments under construction, playing a leading role in shaping connected, liveable communities across Sydney.

Its expanding portfolio of Metro-linked developments includes Tallawong Village, <a href="https://www.apartments.com.au/new-apartments/kings-bay-village-five-dock-53-75-queens-road-five-dock-nsw-2046">Kings Bay Village</a> in Five Dock, <a href="https://www.apartments.com.au/new-apartments/hyde-metropolitan-sydney-133-141-liverpool-street-sydney-nsw-2000">Hyde Metropolitan</a> in Sydney CBD, <a href="https://www.apartments.com.au/new-apartments/falcon-alexander-crows-nest-8-alexander-street-crows-nest-nsw-2065">Falcon &amp; Alexander</a> in Crows Nest and Showground Village, Castle Hill.

Deicorp purchased the Beaconsfield Paradise site last year. Construction is scheduled to commence in Q2 of 2026 and will be completed in 2029.

Deicorp expands portfolio to nearly 5,000 apartments with Lindfield project

In a joint venture with The Trump Organization, Australia developer Altus Property Group has announced plans to bring a Trump International Hotel &amp; Tower to the Gold Coast, marking the first Trump-branded project in Australia.

"Trump International Hotel &amp; Tower, Gold Coast is our first official project in Australia and reflects our unwavering commitment to delivering world-class luxury experiences in iconic locations around the world," Eric Trump, Executive Vice President of The Trump Organization, said.

"This development exemplifies the Trump brand’s dedication to quality, sophistication, and unmatched service, and we are thrilled to bring this vision to the vibrant Gold Coast community."

The 91-storey building, which will become the tallest in Australia at 335 metres, will feature a&nbsp;285-room luxury hotel bearing the trademark Trump logo. It will also include 272 luxury residential apartments, a three-level podium with an exclusive Beach Club, and over 3,400 sqm of premium commercial, retail, and dining space, revitalizing the central Surfers Paradise precinct.

“Trump International Hotel &amp; Tower, Gold Coast will be a truly unique offering in the Australian market, bringing the prestige and allure of a world-class luxury brand,"&nbsp;Altus founder and chief executive David Young said.

"Altus Property Group is proud of its track record in delivering landmark developments across Australia, and our expertise ensures this project will be an outstanding success."

Trump Hotel heads for the Gold Coast to become Australia's tallest building

More than a century after the Corrimal Coke Works first opened in 1912, the industrial landmark that helped shape the suburb is being reinterpreted as a walkable residential neighbourhood, with Stage One of <a href="https://www.apartments.com.au/new-apartments/the-works-stage-one-27-railway-street-corrimal-nsw-2518">The Works</a> now underway at 27 Railway Street.

For 102 years, the site was central to <a href="https://www.apartments.com.au/developments/corrimal-nsw-2518">Corrimal</a>’s economic and social identity before operations ceased in 2014. Rather than erasing that legacy, developer Legacy Property has embedded it into the masterplan, retaining and reinterpreting elements such as the iconic 1912 brick chimney and sections of the original C1 Coke Oven Battery, alongside the adaptive reuse of the former powerhouse building.

Stage One will introduce 181 apartments across low-rise buildings, offering predominantly two and three-bedroom residences with completion targeted for mid-2027. The scale and configuration reflect a deliberate focus on owner-occupiers, targeting those seeking a lower-maintenance home in a prime location within the northern suburbs of Wollongong.

[smartcode_project:default project_id=143415 project_image_fid=359833]

Apartments have been designed to maximise natural light and cross-ventilation, with floor-to-ceiling glazing extending living areas onto generous balconies. Engineered timber flooring, induction cooktops and 900mm ovens in larger residences support everyday functionality, while two interior palettes allow buyers to tailor finishes to their preferences. The material selection draws on a restrained coastal language, intended to connect homes to their surroundings rather than compete with them.

The Works forms part of a broader 18-hectare masterplan that will ultimately deliver around 550 dwellings, new parks, and a heritage precinct celebrating the site’s past. More than seven hectares are dedicated to open space, including Southern Park and a Village Green with community gardens and recreation areas. The creek corridor is being rehabilitated with 150,000 native plantings, restoring biodiversity to the site and softening landscape.

[smartcode_project:default project_id=143415 project_image_fid=359841]

Positioned adjacent to Corrimal Station and within walking distance of Corrimal Town Centre, the precinct places daily essentials, rail connections and local retail within easy reach. Wollongong CBD, including the hospital, university and entertainment venues, sits approximately 6.5 kilometres to the south.

For buyers more familiar with North Wollongong, Corrimal offers a different proposition: a well-established coastal suburb framed by beaches to the east and the escarpment to the west, with a strong sense of local identity shaped in part by the former Coke Works. The Works seeks to reinforce that identity by creating a connected, walkable neighbourhood between coast and escarpment, rather than a standalone apartment complex.

Sustainability underpins the development approach. The Works is targeting Wollongong’s first 5-Star Green Star-rated community, with water-sensitive urban design, recycled materials and energy-efficient buildings integrated across the masterplan. For residents, these measures provide not only environmental benefits but also reduced operational costs and future resilience.

[smartcode_project:default project_id=143415 project_image_fid=359842]

With construction commenced and display materials available to view, prospective buyers can now engage more directly with the project’s vision, reviewing floorplans, material selections and the broader masterplan in detail. For many local homeowners weighing a move, the opportunity to experience how heritage, landscape and contemporary design intersect may help bridge the gap between familiarity and the next chapter.

As Stage One progresses toward its mid-2027 completion, The Works represents a significant chapter in Corrimal’s evolution, transforming a site that once powered local industry into a walkable residential precinct designed for its next generation of residents.

[smartcode_project_cta:default project_id=143415]

Legacy Property’s The Works reimagines Corrimal’s century-old Coke Works

When it comes to developing in Melb​ourne's Bayside region, <a href="https://www.apartments.com.au/developers/lowe-living">Lowe Living</a> knows exactly what buyers want.

With a longstanding presence in the area and a string of sell-out projects, Lowe Living consistently delivers developments that are as sought-after as their predecessors.

Their latest instalment is in <a href="https://www.apartments.com.au/developments/hampton-vic-3188">Hampton</a><a href="https://www.apartments.com.au/developments/hampton-east-vic-3188">&nbsp;East,</a> the same postcode where they have previously delivered Hampton Hill and Oceano. The developer-builder recently commenced construction on its newest project,&nbsp;<a href="https://www.apartments.com.au/new-apartments/marella-hampton-31-35-alicia-street-hampton-east-vic-3188">Marella</a>, a collection of 32 apartments just five minutes from the beach.

Site acquisition is paramount to success. Lowe Living rarely brings a building to market that isn’t within walking distance of essential amenities, whether it be the beach, a prominent retail strip, or a train station. Marella is no exception, located at its Alicia Street address, less than a kilometre from the retail heart of Hampton Street and Hampton Station.

[smartcode_project:default project_id=146197 project_image_fid=358495]

Equally important to Lowe Living is the architecture.

For Marella, they appointed <a href="https://www.apartments.com.au/architects/cera-stribley-architects">Cera Stribley</a>, who explains that the architectural vision was to create a contemporary reinterpretation of the Californian bungalow, a style that’s iconic to Hampton’s heritage.

"By borrowing, abstracting, and reinterpreting elements of this quintessential style, such as strong datum lines, articulated columns, exposed structures, and roof tiles, our design strikes a balance between modernity and familiarity," says Cera Stribley.

"This approach ensures that the development is not only visually appealing but also contextually sensitive, resonating with Hampton's existing architectural landscape."

[smartcode_project:default project_id=146197 project_image_fid=358499]

The building features terracotta brick, soft cream masonry, and exposed metal detailing, giving it a tactile presence that is intended to weather gently over time.

Internally, the focus on lasting quality continues, with two and three-bedroom residences anchored by sculptural stone kitchen islands, natural light, and clearly defined transitions between living, dining, and outdoor spaces.

The layouts have been carefully designed. Open-plan zones extend to private balconies, with light-filled interiors and generous kitchen proportions, supported by Miele wall ovens, induction cooktops, and integrated fridge-freezers. These are not small apartments rebranded as luxury; they have been designed at scale, with ample storage, hotel-style entry access, and secure basement parking provided as standard.

[smartcode_project:default project_id=146197 project_image_fid=358492]

At the uppermost level, Marella’s Signature Collection penthouses offer city or bay views, large entertaining terraces (some with outdoor spas), and elevated finishes, including fully wrapped stone kitchen benches and a Liebherr wine fridge.

Flexible room arrangements allow for a fourth bedroom or secondary living space, sought-after by both empty nesters who want the space when family visits and families with older children.

[smartcode_project:default project_id=146197 project_image_fid=358498]

A residents’ lounge on the ground floor reinforces the project’s small-community feel. With a fireplace, private dining area, and adjoining terrace, it’s one of several shared spaces that balance amenity with privacy and scale.

Construction has commenced, with completion expected in early 2027.

[smartcode_project_cta:default project_id=146197]

Lowe Living continues Bayside legacy as Marella rises in Hampton

Office Listing

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A trophy office block in the heart of Darlinghurst is set for a big sale.
The seven level A-grade office block at <a href="https://www.realcommercial.com.au/for-sale/property-19a-boundary-street-darlinghurst-nsw-2010-503366798" target="_blank">19a Boundary Street</a> last traded for $63.5 million in 2017 when it was bought by Haben Property Fund.
It was in 2000 that the warehouse was converted and repurposed as office space, with notable tenants such as creative agency Collider and celebrity chef Donna Hay.
There are 53 tenants in total, with a mix of office and ground level retail and cafe spaces.
Mercer Property and CBRE have been jointly appointed to sell the property that fully leased offers a total lettable area of 6,500 sqm, including a ground floor retail showroom.
It also has secure parking for up to 51 vehicles.
<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/2019/10/22/19a%20Boundary%20Street%20Darlinghurst%201.jpg" alt="">
The net passing income is $4,380,311.22 annually, with a rare five per cent annual increase on leases.
The building was recently upgraded, with a new lift and an upgrade of all amenities.  
CBRE agent Harry Georges is marketing the property in conjunction with Mercer Property's Tom Speakman and Matt Davoren.
Georges said he is expecting significant investor interest.
“With low supply and high demand, office vacancy rates have reached record lows across Sydney,” Georges said.
<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/2019/10/22/19a%20Boundary%20Street%20Darlinghurst%202.jpg" alt="">
“The vacancy rate on the city fringe has contracted for the third consecutive year to circa 3%, the lowest rate of any commercial market in Australia. 
"This is underpinning interest in assets like 19a Boundary Street, which offer strong fundamentals and a diverse tenancy mix.”
George noted that commercial buildings in Darlinghurst were in high demand but rarely brought to market.
“19a Boundary Street also offers significant upside, with scope for a considerable uplift in the existing rents and potential for a future exit strategy via a strata subdivision,” Mr George said.
“Given the building’s location, a conversion to a boutique hotel would be another possibility subject to the relevant planning approvals.”
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Mercer Property agent Tom Speakman said creative buildings are in short supply.
“The Sydney market is experiencing above-average demand for heritage and creative stock,” Speakman said.
“As the lines between work and play continue to blur, occupiers are increasingly looking to grow their businesses and retain talent in creative commercial spaces such as 19a Boundary Street, which are surrounded by superior amenity and new restaurant and bar concepts.”
“The building’s tenancy profile has the potential to provide either an owner-occupation opportunity or allow an incoming purchaser to rework a large portion of office space.
“Leasing to a single, whole building tenant or whole floor tenancies offers the advantage of picking up an additional 15% of net lettable area – all while bringing rents up to market.”
 
 
 
 
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jrobinson-rf4aSBido9

Darlinghurst trophy office block set for big sale

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The Westpac Bank premises in the heart of Manly has been listed for sale.
The major bank has lease options until 2044 on the property on The Corso, Manly's busiest street where beach seekers will head from the ferry to the sand.
The premises at the wharf end of the road at 32 The Corso is being marketed as a once in a generation opportunity.
The two level commercial site on 665 sqm last traded in 2000 for $4 million.
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Listing agents Cushman &amp; Wakefield, in conjunction with Patrick Kelleher, of Pine Property, indicated the net income was $994,380 per annum plus GST under the existing lease that runs until 2024.   
<div class="wp-caption">There is a four per cent annual rent increase which will tip the net income over $1 million next year.</div>
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<div class="wp-caption">Offers are due July 2.</div>
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j.ballantyne1990-6AQqhLzZaK

Manly's central Westpac premises listed for sale

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The Double Bay office premises of Ken Jacobs Christie's International Real Estate has been listed for sale.
Christie's, who are led by agent Ken Jacobs who recently secured the reported $100 million Fairwater sale, occupy the top floor of the <a href="https://www.realcommercial.com.au/property-retail-nsw-double+bay-503006830" target="_blank">two level Knox Street building</a>.
The 238 sqm lower ground space is tenanted by Sportscraft, which has recently been renovated throughout.
Sandwiched between the Savoy Hotel and the newly located ANZ Bank, the property also comes with an additional rear shopfront to Knox Lane.
Ken Jacobs Christie's sits on the executive office floor that spans 250 sqm.
<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/2018/11/5/jacobs2.jpg" alt="">
The modern double storey asset with plate glass and concrete facade has a net passing income of around $435,000 per annum.
There's 485 sqm of total lettable area on its 300 sqm parcel which is zoned flexible B2 local centre.
Ray White Commercial agents Jacob Fahd and Grant Whiteman are marketing the property for a November 29 auction.
 
 
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Ken Jacobs Christie's International and Sportscraft Double Bay premises listed

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Mystery surrounds the sale of Double Bay retail and office premises that sold for $12.5 million at auction tonight.
The top bidder was Eduard Litver who owns the retail component of the Cosmopolitan Centre on the opposite side of Knox Street.
But there are whispers Litver was bidding for the Ma family who own adjoining premises. 
The family of Hong Kong press baron Ching-Kwan Ma has been buying up Double Bay in recent times.
Auctioneer James Keenan announced the 31-33 Knox Street premises on the market at $10.2 million.
There were just the two bidders.
It is sandwiched between the Savoy Hotel and the newly located ANZ Bank, which replaced the long running D'Bees Restaurant.
The property also comes with an additional rear access to Knox Lane.
<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/2018/11/5/jacobs2.jpg" alt="">
The lower ground space is tenanted by Sportscraft, which has recently been renovated throughout with a lease that expires September 2022.
Christie's occupy the top floor of the <a href="https://www.realcommercial.com.au/property-retail-nsw-double+bay-503006830" target="_blank">two level Knox Street building</a>. The executive office floor spans 250 sqm.
The modern double storey asset with plate glass and concrete facade has a net passing income of around $435,000 per annum.
There's 485 sqm of total lettable area on its 300 sqm parcel which is zoned flexible B2 local centre.
Ray White Commercial agents Jacob Fahd and Grant Whiteman marketed the property.
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The outgoings total $64,000 including $11,000 council rates and $42,000 land tax. 
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The Ma family's last Double Bay purchase was $14.7 million on <a href="/expert-insights/investing/ma-family-buys-in-double-bay-for-14-7-million">Cross Street</a>.
There was a $12.5 million purchase by the Ma family in 2016 on Bay Street from the Perth socialite Rose Porteous.
 
 
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jchancellor-FAypfDUnLy

Mystery after Knox Street, Double Bay premises sell for $12.5 million

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A commercial office space in the Lifestyle Building in the Docklands has been listed for sale.
The 73 square metre office at <a href="https://www.realcommercial.com.au/property-offices-vic-docklands-502835530" target="_blank">838 Collins Street</a>, offered with vacant possession, last traded for $569,745 in 2013.
Savills agents Mark Stafford and Jesse Radisich say thousands of workers are relocating the Docklands each year.
Similarly, two adjoining office level suites on <a href="http://www.colliers.com.au/206637/" target="_blank">level 4</a> of the Lifestyle Building on 838 Collins Street are on the market for $880,000.
They say the Lifestyle Building is in the 'booming Docklands office precinct'.
Signs of this boom are similar sales such as an office component of a Waterfront City commercial development at 425 Docklands Drive.
The 14 fully-leased strata offices had a combined area of 1,494 sqm and a weighted average lease expiry of 2.5 years.
The office is being offered with vacant possession with Southern Cross Station less than 700 metres away.
The Lifestyle Building won the 2013 BPN sustainable buildings award for a major commercial building.
It has 137 individual commercial suites, retails spaces and sits opposite the new ANZ Centre and adjacent to the Myer national support office. 
The building is a composition of rectangular boxes on different axes with a courtyard connecting Collins Street to Victoria Green to the north. 
The facades are comprised of full height “clear” shop front glazing with glass louvre and sun-shading elements to the exterior, maximizing solar access and indoor air quality. 
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Strata office for sale in 'booming' Docklands precinct

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A Canberra office building is set for auction after being fully leased to Seeing Machines for a 10-year term plus option.
The <a href="https://www.realcommercial.com.au/property-offices-act-fyshwick-502563922" target="_blank">165 Canberra Avenue</a> asset in Fyshwick is being auctioned on October 26. Hyperion Property Group has appointed Colliers International to market the campaign.
Seeing Machines is a Canberra start-up and now global organisation listed on the AIM of the London Stock Exchange and currently employ just under 200 people in Canberra.
It develops computer vision related technologies that help machines understand people tracking and interpreting human faces and eyes.
It is a standalone building that has recently undergone cosmetic upgrades, and future tenant works are estimated at $4 million.
Seeing Machines appointed Canberra-based interior design studio, Core Interiors, to design their fit-out.
The two-level building, constructed in 1994, was purpose-built for a technology company.
Colliers International’s Matthew Winter, who is the listing agent, said the 5,256 sqm corner site "presents purchasers with an outstanding long-term proposition.”
“The property lies within the East Lake Precinct which is currently under investigation by the ACT Government for future re-zoning to encourage urban infill via residential development,” said Matthew.
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Canberra office building leased to tech company Seeing Machines listed

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Two adjacent fully leased office buildings in Geelong, Victoria’s largest provincial city, are expected to sell at a below-replacement-cost figure of around $35 million.
The buildings could be sold separately as well, and currently return just over $3 million combined per annum. The properties will be sold by expressions of interest closing November 3.
The properties are being marketed by commercial real estate firm Dawkins Occhiuto’s Andrew Dawkins, Chris Jones and Walter Occhiuto, and Pat Burke of MP Burke Commercial.
Dawkins said the properties would present attractive yields for investors or partial owner-occupiers and presented far more attractive numbers than similar properties in Greater Melbourne, including the prospect of strong rental upside.
“With pre-commitment rents in Geelong at around $440 a sqm, there is a potential arbitrage opportunity for existing buildings that are achieving rents well below those rates,” Dawkins said.
“The momentum in the Geelong market coupled with these new rates being achieved presents a real opportunity for both these assets.’’ 
The property at <a href="https://www.domain.com.au/property-profile/235-237-ryrie-street-geelong-vic-3220" target="_blank">235 Ryrie Street</a> is a three-level building with advanced plans available for an additional two office levels featuring CBD and foreshore views. 
The property is fully leased to five tenants including Bendigo Bank, Clinical Lab and Victorian Regional Chanel Authority returning $748,076 per annum net.
The <a href="https://www.domain.com.au/property-profile/235-237-ryrie-street-geelong-vic-3220" target="_blank">237 Ryrie Street</a> asset is a modern (2008) building of five office levels, featuring a glass curtain facade and an atrium above the foyer. 
It is fully leased to eight tenants including Australian Red Cross, Bendigo Bank, Department of Human Services and Morris Finance, returning $2,345,525 per annum net.
Leased to 5 and 8 tenants
Burke added that increased government and private spending indicates a growing confidence in Geelong along with its record population growth.
“Geelong is currently in the midst of an investment and infrastructure boom with more than $1.3 billion of major construction underway or nearing completion and a further $2.3 billion worth of investment either awaiting commencement or in the planning stages. 
“The construction of the 14-level, $120 million WorkSafe headquarters in Malop Street epitomises Geelong’s relatively recent emergence as a key commercial centre including a number of national government tenants with the TAC, the ABS, NDIS and DHS.
The city of greater Geelong has a current population of more than 229,000 people, which is expected to grow to 320,791 by 2036.
 
 
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jonathanchancellor-7SQnKwU6yx

Geelong office duo expected to fetch $35 million

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A Shepparton office space currently leased to the state government has been listed for sale.
The ground floor office at 307-331 Wyndham Street, on the corner of Fraser Street, is to be sold subject to registration of a subdivision.
The lot is approximately 965 square metres and has street frontages of approximately 39.2 metres to Wyndham Street and 19 metres to Fraser Street.
The current tenant is the Department of Justice, which has been occupying the premises since 2009 and has a five-year lease which commenced in September 2014, with an option for an additional five years.
The current rental is $162,612 per annum net, with the lease providing fixed annual rental increases at 3.5%, with a market review applicable to the option.
The property is being marketed by selling agents Gray Johnson, in conjunction with local agents Gagliardi Scott Real Estate.
Gray Johnson’s Scott Ashby says he anticipates that the investment will sell on a yield in the 9% to 10% range.
“At a time when yields on commercial investments in Melbourne are transacting in the sub five percent range, this offering provides investors an opportunity to acquire an asset on a comparatively more attractive yield,” he said.
It is to be sold via private sale with the deadline closing on Wednesday 5 April at noon.
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State government leased office in Shepparton listed

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An office tower in the Sydney CBD with the NSW government as anchor tenant is up for sale with price expectations of more than $150 million. 
The building at 59 Goulburn Street has potential for further development across the residential, commercial office and hotel sectors.
The freehold asset is 98 percent occupied, has 23 levels with a net lettable area of 18,867 sqm and ground floor retail. It is directly opposite the bustling World Square precinct in the Sydney CBD.
The asset offers a Weighted Average Lease Expiry of 2.3 years and estimated passing income is $8.13 million.
The property is being marketed by JLL and Colliers International on behalf of Roxy-Pacific Holdings Limited, via an international expressions of interest campaign closing on March 23, according to a media release.
The asset has three viable development options. These are; a repositioning of the existing asset with the potential for higher rentals; redevelopment into a new commercial office tower; or redevelopment into a 38-storey mixed-use tower comprising retail and commercial, 407 hotel suites, 90 residential units and 94 car parks. The asset currently has Stage 1 Development Approval for the potential hotel and residential development. JLL’s Ben Hunter, James Aroney and Sam Brewer are the agents on the campaign, along with Colliers International’s Vince Kernahan and James Girvan.  Roxy Pacific Australia director Ben Hopkins said, “After entering the Australian market in 2014 we have managed to build up a robust portfolio of both development and investment assets across Australia with value over $500 million. After fielding numerous offers for 59 Goulburn St Sydney we have decided to offer this landmark freehold opportunity with exciting re-development potential to the market.”
JLL’s Aroney added that the central location and development options will allow the eventual purchaser to create a “new offering amongst one of Sydney’s busiest CBD precincts”. 
“There is ongoing demand for office assets of this nature in Sydney, particularly when there is room for significant rental upside.”
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