Builder-developer ALAND has drawn back the curtain on its first city-focused new apartment development.

The North Sydney development, <a href="https://www.apartments.com.au/new-apartments/the-walden-north-sydney-173-179-walker-street-north-sydney-nsw-2060">The Walden</a>, is the first time the company has ventured this close to the city, having previously completed thousands of apartments predominantly in Sydney's west, and more recently in Gosford.

<a href="https://www.apartments.com.au/developers/aland">ALAND</a> acquired the prime North Sydney site, spanning Walker and Hampden Streets just down the road from the Victoria Cross Metro station, for $240 million in June.

Now they've unveiled the new project, a mix of one-, two-, three- and four-bedroom apartments across a 30-level building designed by Rothelowman.

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The Walden will capitalise on the site’s front-row position on the eastern fringe of the <a href="https://www.apartments.com.au/developments/north-sydney-nsw-2060">North Sydney</a> CBD, which offers uninterrupted Sydney Harbour views stretching from the Sydney Harbour Bridge all the way to Sydney Heads.

The main tower will be flanked by a small four-level amenity building known as The Pavilion, offering exclusive resident-only amenities including a dedicated concierge service, a sauna and private wellness studio, a gymnasium and fitness studio, a resort-style rooftop pool and sundeck.

There will also be a&nbsp;residents’ lounge, private dining and a wine cellar, and co-working facilities with an on-site meeting room and boardroom.

&nbsp;

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ALAND Founder Andrew Hrsto said the company knew they could create something "iconic" with The Walden when they saw the site.

&nbsp;

“As a company, we had been searching for a site in one of Sydney’s blue-chip locations, spanning the Eastern Suburbs, the Sydney CBD and the North Shore, and when we had the opportunity to purchase this site, we immediately recognised that it could be something iconic – being the last development with a view offering this exceptional.

“We identified the attributes and quality of the site as being perfectly aligned for ALAND – and we feel that this off-market acquisition is a perfect opportunity to showcase our craftmanship and expertise through a truly unique offering."

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Hrsto pointed to ALAND’s longstanding development expertise as a significant benefit in delivering a positive outcome for The Walden.

“Being a fully integrated development and construction business with a highly experienced team, we have the benefit of in-house experts across the development spectrum, from acquisitions, design, planning, and construction, to sales, marketing, property management, through to building management.

“As one of Australia’s largest private development and construction groups, we’ve been in operation for 23 years, with a Gold Star iCIRT rating and a 100 per cent delivery success rate across numerous masterplanned and mixed-use projects – and we’re very much looking forward to bringing this expertise to The Walden and contributing to the ongoing revitalisation of North Sydney."

The Walden is the latest development in Sydney to have the 10-year Latent Defects Insurance policy by Resilience Insurance, protecting buyers from any structural or waterproofing-related issues for 10 years post-completion.&nbsp;

Demolition of existing structures on The Walden site has already commenced through specialist civil contractor Moits, with the aim of completing preparatory ground works by the end of 2025, ahead of construction commencement in early 2026.

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Joel Robinson

ALAND unveils The Walden, North Sydney's latest luxury apartment development

<a href="https://www.apartments.com.au/developers/toga-group">TOGA</a> has opened sales for the final building in Macquarie Rise, its latest mixed-use development in Macquarie Park.

Since launching its <a href="https://www.apartments.com.au/new-apartments/macquarie-rise-122-herring-road-macquarie-park-nsw-2113">Macquarie Rise</a> in late 2023, TOGA has secured over 125 sales in the Herring Road development, to a range of purchasers, from first home buyers to investors and downsizers. Around 65 per cent of purchasers have been owner-occupiers.

TOGA has now launched a new release of one-, two-, and three-bedroom apartments in the final building, Saunders Rise. Many of the apartments feature multi-purpose rooms and offer views of the surrounding greenery. Also part of the release is a series of&nbsp;sub penthouses housed on the upper floors.

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“We’re delighted with the ongoing strong interest in our Macquarie Rise development, which is testament to the need for premium housing in this much-loved Sydney suburb,"&nbsp;Allan Vidor AM, Managing Director at TOGA, said.

"We’re proud to be able to offer buyers a unique product that includes luxury amenities, spacious living areas and flexible layouts, designed to suit all kinds of buyers, from young professionals to families and investors.

“We have long been advocates of Macquarie Park, and once Macquarie Rise is complete, TOGA will have built 1,000 apartments in the area, delivering much needed homes within a thriving precinct. It’s great to see the area become renowned for high-quality apartments, proximity to amenities and green spaces."

TOGA, one of Australia’s few Gold Star iCIRT rated developers, is also handling construction of Macquarie Rise. They are on track to complete the building in 2027.

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Macquarie Rise boasts a prime location, placing residents within immediate reach of Macquarie Centre, Macquarie University, and the newly completed Macquarie University Metro, connecting to the Sydney CBD is just over 20 minutes.

&nbsp;

Macquarie Rise residents also have access to Club Rise, an exclusive, residents only lounge designed by luxury hotel designers Stack Studio, offering an abundance of work and break-out areas, a Pilates studio, a gym, and a karaoke room. As well as these premium amenities Macquarie Rise will also feature an impressive podium top 20m lap pool.

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“Offering luxury, spacious apartments in a vibrant and well-connected neighbourhood, it’s no surprise that Macquarie Rise remains popular with a range of buyers," said TOGA's General Manager of Sales, Anthony Falas.&nbsp;

"With interest rates tracking downwards, we expect the final apartments to continue to receive high levels of interest.”

Located at 122 Herring Road, Macquarie Park, the development will be delivered in partnership with Baptist Union NSW and Morling College with a value of over $400 million.

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TOGA launches final stage apartments in Macquarie Rise

Southern Cross Station anchors the western end of <a href="https://www.apartments.com.au/developments/melbourne-vic-3000">Melbourne</a>’s CBD, connecting metropolitan and regional rail with tram and bus interchanges in one of the city’s busiest transport corridors.&nbsp;

Just metres away, <a href="https://www.apartments.com.au/new-apartments/640-bourke-street-melbourne-640-bourke-street-melbourne-vic-3000">640 Bourke Street</a>&nbsp;will place residents in the heart of the city, with immediate access to Spencer Street trams, a growing mix of retail, hospitality and cultural venues, and a neighbourhood evolving into a lively residential precinct.

Developed by <a href="https://www.apartments.com.au/developers/far-east-consortium">Far East Consortium</a>, the 68-level project integrates a sculptural glass tower with the heritage-listed Eliza Tinsley Building on a 2,765 sqm Bourke St site.&nbsp;

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Designed by <a href="https://www.apartments.com.au/architects/rothelowman">Rothelowman</a>, the development replaces a previously approved scheme for 813 apartments with a refined offering of just over 600 larger-format residences, responding to a growing owner-occupier demand for spacious city living.

The location sits within a dynamic pocket undergoing significant transformation. Marvel Stadium and the Docklands waterfront are less than 10 minutes away on foot, offering both sports and leisure attractions.&nbsp;

Bourke Street Mall, Queen Victoria Market, and the State Library are all within walking distance, while Flagstaff Gardens, Melbourne’s oldest park, provides a green escape just to the north.

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Proximity to some of the city’s largest employers and education hubs, including the courts precinct, legal chambers, RMIT, and major hospitals, makes 640 Bourke Street an appealing residential address for professionals, families and students alike.

Education opportunities span all levels. Nearby, Haileybury City Campus offers private schooling just a short walk from 640 Bourke Street. Just beyond the CBD fringe, Carlton Gardens Primary School, one of Melbourne’s oldest state primary schools, and Docklands Primary School provide convenient government schooling options.

Higher education is equally accessible. RMIT University’s city campus spans multiple buildings just a few blocks away, while the University of Melbourne’s Parkville campus is easily reached via tram along Swanston or Elizabeth Streets.

Victoria University’s City Queen campus, focused on law and business, is also close by, positioning 640 Bourke Street within walking distance of three of Melbourne’s major tertiary institutions.

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The neighbourhood’s retail tapestry continues to evolve into something distinctly local and walkable. Just steps away, Woolworths Metro on Bourke Street ensures that everyday essentials are easily within reach.&nbsp;

For larger shopping trips, Spencer Outlet Centre on Spencer Street and QV Melbourne on the opposite side of the CBD broaden the offering with supermarkets, fashion, dining and specialty stores.

The lane-to-lane vibe unfolds beautifully in nearby arcades and alleys. Hardware Lane, with its European-style red-brick paving and alfresco dining, pulses with jazzy evenings and casual lunches.

A few minutes north, Howey Place and Centre Place offer leafy, boutique-lined lanes where hidden cafés and niche retailers congregate under historic glass-covered cloisters.

Completing this tapestry is the newly opened Mecca “beauty playground” on Bourke Street. Spanning 4,000 sqm over three levels, the flagship blends immersive retail within an art-deco heritage setting.

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This finely grained network of shops, eateries, arcades and service outlets defines the everyday lifestyle at 640 Bourke Street - further enriched by over 3,000 sqm of resident amenity including a Turkish-inspired pool, gym, co-working rooms and private cinemas.&nbsp;

Apartments are priced between&nbsp;$640,000 and $3.95 million. Off the plan stamp duty concessions available until October 2026. Prospective buyers can visit the on site display gallery which has&nbsp;fully built one, two, and three-bedroom apartments.

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640 Bourke Street: A heritage address at the heart of Melbourne

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

Abadeen tops out Northcote Collective in Naremburn

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

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

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.
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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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