For most new apartment buildings, the Owners Corporation starts life with little more than a bank account and the first quarterly strata levies.

At <a href="https://www.apartments.com.au/buildings/9-gay-street-castle-hill-9-gay-street-castle-hill-nsw-2154">9 Gay Street</a> in <a href="https://www.apartments.com.au/developments/castle-hill-nsw-2154">Castle Hill</a>, it starts with around $7 million in reserve.

It's an unusual legacy of what was once one of Sydney's highest-profile apartment remediation projects. When the development, originally known as Skyview and built by disgraced developer Top Place, came under scrutiny by then NSW Building Commissioner David Chandler, an $11 million remediation bond was negotiated to ensure any building defects could be fully rectified.

The building underwent an 18-month remediation program, during which around $4 million of that bond was spent bringing the building up to the standard it should have been in from the outset.

After extensive inspections, all active rectification orders have been lifted. What's more, around $7.2 million remains secured for the Owners Corporation for the next 15 years.

In a twist few would have predicted, what began as a significant concern for purchasers has left the building with something almost unheard of in the apartment market: a multi-million-dollar financial reserve from day one.

[smartcode_project:default project_id=147685 project_image_fid=359136]

<a href="https://www.apartments.com.au/project-marketer/equitifund-group">Equitifund</a> Executive Chairman Greg Huxley said the structure offers buyers a level of certainty that is difficult to replicate.

"The $11 million bond established for the Skyview Castle Hill development represents exceptional value, providing genuine financial security for purchasers," Huxley said.

"Unlike a standard insurance policy, this bond consists of real funds held in trust for the Owners Corporation, offering a tangible layer of protection and added peace of mind."

The apartments themselves have been designed with a focus on practical, contemporary living. Interiors feature Smeg appliances, stone benchtops, tiled living areas, carpeted bedrooms, 2.7-metre ceilings, floor-to-ceiling glazing, and ducted heating and cooling throughout.

Residents also have access to a range of shared amenities, including two rooftop barbecue areas, a swimming pool, children's playgrounds, secure building access, storage cages, and visitor parking.

The location continues to be one of the project's strongest drawcards. Castle Hill Metro Station sits virtually on the doorstep, providing direct connections across Sydney's expanding Metro network, while Castle Towers offers extensive retail, dining, entertainment, and service amenities within walking distance.

[smartcode_project:default project_id=147685 project_image_fid=359127]

The building, now named after its location at 9 Gay Street, comprises a diverse mix of one-, two-, and three-bedroom apartments starting from just under $600,000.

Equitifund National Sales Director Ben Hamblett said demand in the Hills District continues to be driven by buyers seeking convenience and connectivity.

"Interest from both owner-occupiers and investors in Castle Hill remains exceptionally strong, with buyers consistently prioritising developments in close proximity to the Metro station and Castle Towers Shopping Centre," Hamblett said.

"There is a clear trend in the market, with purchasers seeking convenient access to transport and lifestyle amenities that support a seamless, low-maintenance way of living."

On top of the long-term protection afforded by the remaining $7.2 million bond, Equitifund is offering a limited-time stamp duty rebate on selected apartments.

Eligible purchasers can also secure finance options, including a 3.99 per cent two-year variable rate, loan-to-value ratios of up to 90 per cent, and interest-only lending options through EquitiCredit.

[smartcode_project_cta:default project_id=147685]

Joel Robinson

Why this Castle Hill apartment building starts with a $7 million advantage

For much of the past few years, conversations about Australia's property market have centred on the rapid growth seen in Sydney, Brisbane, Gold Coast, and Perth. <a href="https://www.apartments.com.au/developments/melbourne-vic-3004">Melbourne</a> has followed a different trajectory.

That relative underperformance is now encouraging some buyers to reassess the city, particularly those willing to look beyond short-term market movements and focus on quality property in established locations, along with the long-term growth prospects of a city expected to overtake Sydney as Australia’s most populous.

John Bekiaris, Research &amp; Market Insights at <a href="https://www.apartments.com.au/project-marketer/equitifund-group">Projects by Equitifund</a>, said Melbourne's current position is attracting increasingly sophisticated purchasers.

"Melbourne continues to present one of Australia's strongest long-term investment stories," Bekiaris says.

"While other capital cities have experienced stronger recent growth, that relative underperformance is exactly what's attracting sophisticated counter-cyclical investors."

[smartcode_project:default project_id=1979 project_image_fid=363268]

Equitifund isn't just commenting on Melbourne's property market, it's investing in it.

The Sydney-headquartered capital partner has taken over the remaining apartments at <a href="https://www.apartments.com.au/buildings/victoriana-melbourne-20-queens-road-melbourne-vic-3004">Victoriana</a>, the recently completed glass-encased development opposite Albert Park Lake in Melbourne's tightly held St Kilda Road precinct.

Designed by <a href="https://www.apartments.com.au/architects/rothelowman">Rothelowman</a> and built by <a href="https://www.apartments.com.au/builders/hickory">Hickory</a>, Victoriana places residents between one of Melbourne's most recognised parklands and the CBD, offering oversized two and three-bedroom apartments aimed at owner-occupiers seeking a genuine alternative to a traditional family home.

The development comprises 232 completed residences alongside a suite of resident amenities, including a 25-metre indoor swimming pool, gymnasium, landscaped entertaining areas, resident lounges, EV charging, secure basement parking and a concierge-style arrival experience.

[smartcode_project:default project_id=1979 project_image_fid=363229]

The apartments have been designed with owner-occupiers firmly in mind.&nbsp;Open-plan living and dining areas flow onto generous balconies framing views across Albert Park Lake, Fawkner Park, the Royal Botanic Gardens and the Melbourne skyline.

Kitchens feature Gaggenau appliances, stone benchtops and generous preparation space. Bedrooms include built-in robes, while bathrooms feature full-height textured tiling. Hardwood flooring and ducted air conditioning complete residences designed for long-term living.

Rothelowman's architecture takes its cues from the landscape opposite the site. Sweeping horizontal glazing references the movement of Albert Park Lake, while generous balconies and expansive glazing strengthen the connection between the apartments and the surrounding parklands. The result is a building designed to deliver the scale and amenity expected of luxury apartment living, while offering the larger floorplans increasingly sought by owner-occupiers.

[smartcode_project:default project_id=1979 project_image_fid=363284]

The location is one of Victoriana's defining characteristics. Positioned on Queens Road, residents are directly opposite Albert Park Lake and within easy reach of Fawkner Park, the Royal Botanic Gardens, South Melbourne, St Kilda Road and the CBD. With few comparable development opportunities remaining in the precinct, buyers are increasingly placing value on outlooks that are unlikely to be interrupted by future construction.

Greg Huxley, Founder of Equitifund, believes those qualities become even more valuable over time.

"Premium real estate has always rewarded buyers who take a long-term view," Huxley said.

"Victoriana represents the kind of asset that's increasingly difficult to recreate today, particularly in an established location like Queens Road."

He said rising construction costs are also changing the way buyers assess completed developments.

"When you combine an irreplaceable location with thoughtful architecture and premium finishes, you create something that becomes increasingly difficult to reproduce as construction costs continue to rise."

[smartcode_project:default project_id=1979 project_image_fid=363228]

According to National Sales Director Ben Hamblett, enquiry has been driven largely by Melbourne downsizers and buyers upgrading from smaller apartments.

"Interest in Victoriana continues to build, with strong buyer focus on the larger owner-occupier residences within the development," Hamblett says.

"Enquiry is increasingly driven by local buyers who recognise the rarity of what's on offer: park-facing apartments in an established neighbourhood where new development opportunities are becoming increasingly scarce. At Victoriana, the view is not just a feature; it's an appreciating asset in its own right."

He said interstate enquiry has also strengthened as buyers reassess Melbourne's position within the national property cycle.

"Melbourne currently stands as the most compelling entry point of any major Australian capital, and discerning buyers are beginning to recognise what those who move early always understand: the best opportunities are taken before the price rise confirms them."

[smartcode_project_cta:default project_id=1979]

Why now is the time to buy in Melbourne's premium apartment market

Developers and apartment buyers have a narrowing window of opportunity before Brisbane's Olympic infrastructure pipeline begins competing directly with residential construction, pushing up costs, tightening labour supply and making new projects increasingly difficult to deliver.

While Brisbane's apartment market continues to benefit from strong population growth and limited housing supply, industry research suggests the years leading up to 2027 could prove to be the most important period for developers looking to secure builders and buyers hoping to purchase before the next wave of price increases.

A new Colliers report, Brisbane 2032 Olympic and Paralympic Games: Creating Solutions, highlights the scale of the challenge. While thousands of new homes are planned across South East Queensland, the Brisbane Olympic Athletes Village alone will deliver more than 10,500 beds during the Games before being converted into around 1,750 to 2,000 apartments. Equivalent to almost two years of typical inner-city apartment supply, the project will also absorb a significant share of the construction workforce and building materials.

The broader construction pipeline paints an even clearer picture.

Construction Skills Queensland's Horizon 2032 report forecasts Queensland's annual construction pipeline will average $69 billion over the coming years before peaking at $75 billion in 2027-28. Demand for construction workers is expected to increase by 17 per cent to almost 150,000 people, with the industry facing an annual shortfall of around 19,000 workers that could blow out to as many as 35,000 during the peak construction period.

The Olympic venues, athletes village and supporting infrastructure will account for billions of dollars worth of work across South East Queensland through to 2032, creating intense competition for labour at a time when Australia's residential construction sector is already under pressure.

[smartcode_project:default project_id=150489 project_image_fid=373834]

Colliers Queensland Residential Director Andrew Scriven said the convergence of these projects is creating a clear window of opportunity for both developers and buyers.

"From 2027 onwards, the market will shift dramatically," Scriven said.

"Labour will increasingly be locked into government-led infrastructure and Olympic projects, which means private residential developments will face higher costs and tighter margins. The developers who move now are the ones most likely to get projects off the ground."

Scriven said the same dynamic would also affect buyers, with fewer apartment projects expected to launch once construction capacity tightens.

"If you're looking to change your lifestyle over the next five years, now is your window of opportunity to buy."

[smartcode_project:default project_id=150713 project_image_fid=373827]

Developers are already positioning themselves ahead of that window.

Following the success of Monarch at Toowong, Consolidated Properties is preparing to launch two new Brisbane apartment projects in the second half of 2026. They include <a href="https://www.apartments.com.au/new-apartments/gloriette-30-bedivere-street-yeerongpilly-qld-4105">Gloriette</a> at Yeerongpilly Green, a 25-storey tower within one of Brisbane's key Olympic precincts, and <a href="https://www.apartments.com.au/new-apartments/castile-47-skyring-terrace-newstead-qld-4006">Castile</a>, a recently approved 25-storey riverfront development at 47 Skyring Terrace in Newstead.

Hutchinson Builders will deliver both projects, with early works already underway at Yeerongpilly and Newstead expected to commence later this year.

The timing comes as Brisbane's fundamentals continue to strengthen, with strong interstate migration, population growth and vacancy rates remaining below 1.5 per cent.

Colliers Queensland researcher Pragya Sharma said Greater Brisbane is forecast to require around 40,000 new apartments between 2021 and 2031.

"There's a real mismatch emerging between when housing is needed and when it will be feasible to build," Sharma said.

"As a result, the period leading up to 2027 presents a key window of opportunity for developers to secure approvals, funding and construction capacity, while buyers will have greater choice before supply constraints intensify."

Colliers research outlines a critical pre-2027 window to start residential projects before labour squeeze: now is the time to buy

Developers, buyers on watch in South East Queensland ahead of construction crunch: Colliers

It's taken less than nine months for developer Sherpa Property Group to sell out all 51 apartments in its <a href="https://www.apartments.com.au/new-apartments/flourish-oasis-palm-beach-7-9-sixth-avenue-palm-beach-qld-4221">Flourish Oasis</a> development in <a href="https://www.apartments.com.au/developments/palm-beach-qld-4221">Palm Beach</a>, over a year before its anticipated completion.

&nbsp;

Located at 7-9 Sixth Avenue, the $67 million development has resonated strongly with both local owner-occupiers and downsizers seeking high-quality apartments within walking distance of the beach, dining precincts and everyday amenities.

[smartcode_project:default project_id=151449 project_image_fid=357458]

Christie Leet, Founder of <a href="https://www.apartments.com.au/developers/sherpa-property-group">Sherpa Group</a>, said the sell-out reflected both the strength of the Palm Beach market and the success of Sherpa's community-first approach to development.

"The sell-out of Oasis is a fantastic outcome and reinforces the strong demand we're seeing for thoughtfully designed apartments in lifestyle locations," Leet said.

"From the outset, our vision was to create a development that genuinely enhanced the Palm Beach community while providing residents with exceptional homes and wellness-focused amenities.

"We've been incredibly encouraged by the level of local support throughout the campaign, 72.5 per cent of buyers are locals, with a significant proportion of purchasers choosing Oasis as their future home rather than an investment."

[smartcode_project:default project_id=151449 project_image_fid=357463]

Construction is now progressing following development approval, with trusted builder LPS Group delivering the project and completion anticipated in Q3 2027.

Oasis forms part of Sherpa Group's successful Flourish collection, which has become recognised for its focus on wellness, community and elevated coastal living.

[smartcode_project:default project_id=151449 project_image_fid=357469]

Residents will have private access to a rooftop amenity space featuring a pool, gym, sauna, steam room, hot and cold plunge pools, spa and barbecue facilities.

"The success of Oasis demonstrates that buyers continue to prioritise quality, location and lifestyle," Leet said.

"We are proud to have delivered a project that has resonated so strongly with the market and look forward to bringing Oasis to life for our future residents."

Sherpa recently launched <a href="https://www.apartments.com.au/new-apartments/flourish-soleira-palm-beach-1150-1160-gold-coast-highway-palm-beach-qld-4221">Flourish Soleira</a>, its third instalment of the Flourish brand in Palm Beach following Flourish Oasis and <a href="https://www.apartments.com.au/new-apartments/amargo-6-12-sixth-avenue-palm-beach-qld-4221">Flourish Amargo</a>.

[smartcode_project_cta:default project_id=151449]

Sherpa sells out Flourish Oasis in booming Palm Beach

Urban Property Group's <a href="https://www.apartments.com.au/new-apartments/la-vera-macquarie-park-94-talavera-road-macquarie-park-nsw-2113">La Vera</a> is leading the next phase of Macquarie Park's residential evolution, with the new apartment development set to become the first of several new apartment projects in the precinct to complete.

The 169-apartment building has now topped out ahead of its scheduled completion in the third quarter of 2026, as new residential investment continues to reshape one of Sydney's largest employment hubs into a true mixed-use precinct.

[smartcode_project:default project_id=134951 project_image_fid=368645]

Cox Architecture has designed La Vera to capture the best of its unique positioning on Talavera Road, orienting the building towards Lane Cove National Park.&nbsp;The building features a sculpted northern façade with flowing curves inspired by the surrounding landscape, while its city-facing elevation adopts a more structured architectural expression to maximise skyline views.

"The vision for the project was to conceive a building that adopted an organic and curvilinear form to the northern portion that faces the Lane Cove National Park," <a href="https://www.apartments.com.au/architects/cox-architecture">Cox Architecture</a> Director Felipe Miranda said.

"The residents that reside in the northern portion of the building benefit by having beautifully crafted curved balconies that speak to the natural context and heighten the relationship of their internal living spaces to the external balconies."

[smartcode_project:default project_id=134951 project_image_fid=358802]

La Vera offers a diverse mix of one, two, three, and four-bedroom configurations, with prices currently starting from $740,000. Buyers so far have been a mix of Sydney-based investors,&nbsp;metro commuters, owner-occupiers and downsizers from surrounding North Shore suburbs.

Both investors and owner-occupiers have been drawn to La Vera's proximity to Macquarie University, Macquarie University Hospital, Macquarie Centre and the Sydney Metro, infrastructure that supports both strong rental demand and a convenient lifestyle for residents.

The apartments feature full-height glazing, timber flooring throughout living areas, stone kitchen benchtops, SMEG appliances, floor-to-ceiling bathroom tiling and ducted air conditioning.

Residents will have access to a rooftop recreation level featuring a swimming pool, sauna, barbecue facilities and landscaped relaxation areas, complemented by additional communal space at ground level. Many apartments enjoy uninterrupted views across Lane Cove National Park, reinforcing the project's connection to its natural setting.

[smartcode_project:default project_id=134951 project_image_fid=364551]

<a href="https://www.apartments.com.au/developers/urban-property-group">Urban Property Group</a>, a family-owned developer and builder with nearly four decades of experience, holds a 4.5-star iCIRT rating and was Australia's first developer to introduce 10-Year Latent Defects Insurance (LDI). La Vera is the first apartment development in <a href="https://www.apartments.com.au/developments/macquarie-park-nsw-2113">Macquarie Park</a> approved to offer the additional insurance protection, alongside a five-year warranty on SMEG appliances.

Urban Property Group CEO Patrick Elias said the additional protection reflects changing buyer expectations in the off the plan market.

"Consumers are a lot more weary and a lot more concerned in buying off the plan than they ever have been. Having LDI is a tool to portray the confidence that we have in our product, and a confidence we want buyers to share," Elias said.

Following completion of the building later this year, buyers will move into their apartments well before Christmas.

[smartcode_project_cta:default project_id=134951]

La Vera closes in on completion as Macquarie Park continues residential transformation

Office Market

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Work has begun on renovations to Brisbane's 133 Mary Street office tower to include a new forecourt, fittings and finishings and tenant facilities.
The first stage of works, shown this week, include 78 bike racks and 150 lockers, change rooms, bathrooms and showers and is designed by Heise Architecture. 
Work is slated to to kick off on the forecourt this year, which will feature glass, ceramic tiles, pressed metal features and batten cladding. 
Quadra Pacific property manager Michael Cartwright said the refurbishment, due to be completed by December 2016, would deliver a 16-storey, A-Grade office building with commercial and retail leasing space and a 4 star energy rating. 
“The refurbishment comes at a time when we’re looking to attract new tenants to complement the building’s existing mix of government and private-sector tenants, including TAFE Queensland and the Queensland Resources Council," he said
“The new facilities and upcoming refurbishment have already sparked new leasing agreements, with TAFE Queensland recently committing to 2500sqm of office space at 133 Mary Street.
“To deliver safe and spacious facilities, we created a separate and secure zone in a part of the building’s basement that once included five car parks. The stylish entry and sleek interiors ensure it’s comfortable and inviting."
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Quadra Pacific begins $3 million-plus refurbishment of CBD tower

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ASX-listed marketing services company Salmat has signed a six-year lease for office space in Melbourne's commercial CBD with the Lendlease-managed Australian Prime Property Fund Commercial (APPF Commercial). 
Salmat will occupy eight floors at 485 La Trobe Street, taking nearly 8,400 square metres in the South Tower.
Salmat will move into the building in January 2017 and has expansion rights over a further 3,300 square metres.
It will join other corporates at 485 La Trobe Street including Catholic Insurance, BP Elite and MV Anderson Accountants.
The 33,500 square metre, A-grade commercial complex was purchased by APPF Commercial in December 2013 and will undergo a refurbishment of the ground floor and end of trip facilities this year.
Salmat CEO Craig Dower said the decision followed 12 months of due diligence to find a suitable location.
“Maintaining a CBD presence, with accessibility to public transport from all surrounding areas will minimise the impact on our staff, clients and the business, as well as provide access to a pool of new staff to support our growth strategy,” said Dower.
Leon Kriewaldt of Tenancy Solutions represented Salmat, while Phillip Cullity of Savills advised Lendlease.
 
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Salmat signs lease deal for office space in Melbourne's La Trobe Street

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An office property in the Melbourne suburb of Burwood East has sold at auction for $502,000.
The 15 Royton Street building occupies 110 sqm with a total land area of about 186 sqm.
The ground floor retail/office space building is ready to occupy or has the potential to be developed subject to Council approval (STCA).
It was previously trading as a restaurant and has both rear and front parking.
The auction was through George Kelepouris and Paul Rizzo of Ray White Commercial.
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Ground floor office building in Melbourne's Burwood East sold at auction

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Three office suites at the top end of Collins Street in Melbourne are up for sale in the range of $370,000 to $449,000.
The <a href="https://www.commercialrealestate.com.au/property/20-collins-street-melbourne-vic-3000-2012502502" target="_blank">20 Collins Street</a> suites are being marketed by Teska Carson with the promise returns higher than bank interest rates. The Collins Street location is much sought after, both by investors and tenants.
 - Level 3 Suite 4 (65 sqm) has an asking price of asking $370,000 and net annual rent of $29,446
- Level 4 Suite 4 (104 sqm) has a price tag of $449,000 with a net annual rent of $34,000
- Level 5 Suite 3 (105 sqm) is up for sale at $390,000 with a net annual rent of $29,446
 The tenant is on a two-year lease from 2015 with options for another two years and rents are due for an increase from March. The tenant pays GST and the usual outgoings. 
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Office suites in Melbourne’s high-end Collins Street up for sale

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Gaming Laboratories International (GLI) has signed a five-year lease on an office building in Sydney’s growing business district of Seven Hills.
Located at 197 Prospect Highway, the modern and recently refurbished office property comprises two office suites spanning 1,007 sqm.
The property was rented for $265 per square metre net. It has an atrium, outdoor area, onsite parking and dual street access.
CBRE’s Luke Bryant and John Micallef negotiated the deal on behalf of Ford Land Company.
“The building’s flexible leasing accommodation and ease of accessibility were highly suited to GLI’s specific leasing requirements," Bryant said.
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Gaming specialist leases office space in Sydney's Seven Hills

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The final remaining office space in a creative precinct in inner Sydney's Pyrmont is up for lease for $500 per sqm per annum.
Level 1, 84 Union Street offers an existing fit out and timber flooring throughout, and is being marketed by Ray White Commercial's John Skufris.
The building is close to Darling Harbour, The Star Casino and the Australian National Maritime Museum, with retail and food shops nearby
“This site was formerly occupied by Hog's Breath Cafe and before that Oscar's Hotels,” he said.
“This is one of the best positions in Pyrmont.” 
Skufris said the tenancy’s availability coincides with the opening of the 84 Union Street bar, restaurant and cafe on the building's ground floor.
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Pyrmont office space for lease

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Key amenity differentiators for office buildings like childcare and gyms are still rare, while lobby events bring a sense of engagement for workers in a building who are from different firms and who might not otherwise interact, reveals a new survey of customer service and offerings in commercial office buildings by global real estate services firm JLL.
JLL’s first Regional Customer Services and Experiences survey is a regional snapshot of 62 JLL-managed properties across eight countries in the Asia-Pacific region. Half of the properties surveyed were in Australia.  
The survey revealed that whilst some amenities, such as end-of-trip facilities, retail and concierge services are becoming widespread in commercial buildings, other differentiators such as childcare, shared meeting and conference rooms, gyms and lobby lounges were rare – with only 5-10% of buildings surveyed offering them.
“Customer service is increasingly a strong differentiator. In the current competitive market, it is increasingly difficult for a commercial office building to differentiate itself from its neighbour or a similar building down the street,” said Mike George, JLL’s head of the Premium Asset Group, Property Management.
“And the good news for building owners is that improving customer service doesn’t necessarily result in additional expense.
“Mostly it can be done for little or no additional cost to the normal day-to-day operations of the building.  Some measures, like end-of-trip facilities, require a capex commitment but other measures are about changing mindsets, attitudes and behaviours.  It does take an investment in time and effort, but done properly, can reap significant rewards, including attracting new tenants, retaining existing tenants and enhanced brand strength for the property and owner,” he added.
A JLL Paper titled, ‘Putting the customer first’ outlines the business case for offering superior customer service and engagement in commercial buildings.  
Amenity and Convenience
With office employees spending between 40 to 60 hours a week at work, there is increasing demand for more lifestyle conveniences within the workplace. Employers recognise that they can and should cater for these conveniences, like dry cleaning services and on-site physio, if they want to retain the best talent and create a productive workplace.
“End of trip facilities once served as a key differentiator amongst Premium and A-Grade buildings.  However in more mature markets, like Australia, tenants now expect them,” George said.
“The JLL Survey found 68% of buildings surveyed provided extensive bicycle storage, shower and locker and facilities.
“In contrast, only 5% of the buildings surveyed provided childcare and these were concentrated in Australia and India and in buildings and complexes that were over 300,000 square metres in size.” 
Lobby events
The JLL Survey found 68% of buildings surveyed held lobby events, with the majority stating these were quarterly events.
Explaining the importance of lobby events for building an engaged community in an office building, JLL’s Australian head of customer experience, Peter Merrett  says these create a catalyst for people who might not otherwise need to interact.  
“A single office tower can be occupied by dozens of companies, so creating this sense of community is a long-term project, comprising smaller steps to help build engagement.  These may include lobby events like a wine and cheese tasting at the end of the work day, a health and fitness challenge or even a lion dance for Chinese New Year,” he said. 
“Simple things like handing out Easter eggs or as a surprise, installing a popcorn machine in the lobby for the day can build engagement.” 
 
And what’s next?
 
Lifestyle clubs
“Lifestyle clubs are a relatively new service with the ability to attract like-minded people from different companies within a building and enhance a sense of community.  Food and wine clubs are the most popular, but other possibilities include fitness and cycling clubs.
“Clubs need not be expensive. They can usually be delivered via the property website and can be funded by club members,” said Merrett.
JLL’s customer service specialist practice area has gone from being a trial six years ago to becoming an essential part of the property management business.
“What we are delivering is a new level of hospitality and convenience services in office buildings, to assist people with things like organising sporting tickets and making restaurant bookings.  There is no cost involved for providing this personal concierge service on behalf of our guests – it is all part of the service to support business lifestyles,” said George.  
“For instance, at Liberty Place in Sydney, the concierge offers a raft of services to customers: limousine and car services, shoe shine, theatre and concert tickets, flight and holiday information, restaurant reservations and room service-style catering.”
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Popcorn lobby events: strong business case for increasing worker engagement in office buildings: JLL survey

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The February Canberra Office briefing from Savills has noted the local market will continue to grow, albeit slowly, due to the recent completion of 'A grade' buildings in Forrest and Gunghalin.
As a result, according to the report, the recent speculative development cycle has closed with future office supply reduced significantly compared to previous years.
"Less than 10,000 square metres of new and refurbished space is currently under construction and/or due for completion by the end of 2016, with no further development in the immediate pipeline," the report notes, adding there is a significant level of ‘mooted’ supply overhanging the market but dependent on leasing pre-commitment. 
"Rents for new and near-new ‘A Grade' stock have been maintained at a stable level, although there has been a threat to Face Rent levels in the older ‘A’ Grade properties, and an associated volatility in the level of incentives on offer for this class of property.
"Rents for secondary grade stock are forecast to continue to be under pressure during 2016, with upward pressure on the level of incentives required to secure tenants for this class of property."
For more information, <a href="https://pdf.savills.asia/asia-pacific-research/australian-research/australia-office-/savillsresearch-briefing-canberra-office-q4-2015.pdf" target="_blank">click here</a>.
 
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Canberra office market will grow, albeit slowly: Savills

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Australia’s office market offers a mixed bag from one coast to the next.
Demand for space from tenants and level of landlord investment has fluctuated widely between the regions, so choosing the right fundamentals has become ever more important, according to valuation firm Herron Todd White latest property clock for offices.
The March property clock is a simple broad brush means to suggest where property markets are and what direction prices are moving in.
<a href="/images/2016/03/2/Screen%20Shot%202016-03-02%20at%2012.56.15%20PM.png" target="_blank">Click to enlarge</a>
<img src="/images/2016/03/2/Screen%20Shot%202016-03-02%20at%2012.56.15%20PM.png" alt="">
Tamworth in New South Wales retains its place at the peak of the cycle and is the only one occupying the position.
NSW Far North Coast and Coffs Harbour are the new entrants to towns/cities approaching the peak of the market.
Darwin slips into the declining market position while Perth and Gladstone are approaching the bottom of the market, says the HTW clock.
In Coffs Harbour CBD, the demand and supply of office space remains stable and there has been a steady take up of oversupplied space. Rental levels are generally static with the most recent lettings effected at similar passing rental rates or subject to CPI increase. There is evidence of leasing incentives (generally two to three months rent free) within the market. 
The capital value levels for office buildings demonstrated strong demand and firm yields throughout the year.
In Darwin’s case, the outlook for the commercial office market is best described as bleak. The Charles Darwin Centre is now open for business and a number of government departments have moved in, leaving a number of other office buildings in the CBD vacant. HTW estimates that the vacancy rate for CBD office space exceeds 20% and could well climb higher over the next 12 months. 
As for Perth, the official vacancy rate in the CBD office market as at January 2016 was recorded as being 19.2%, up from 16.6% six months earlier and up 4.4% on the January 2015 result. 
Overall, the current state of the Perth office market continues to decline. Forecasts for the following six months will see little respite in vacancy numbers, with predictions as high as 24% by the first or second quarter of 2016.
Lastly, in Queensland’s Gladstone, the office market for 2016 is anticipated to remain relatively in line with 2015, with tenants keeping hold of negotiating power in new leases and when exercising option periods. Over the past 12 months there have been some reductions in rental levels of about 30% and this is expected to continue until rentals begin to flatten out.
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Australia's office market a mixed bag, Perth near bottom, Darwin outlook bleak: HTW March property clock

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<a href="https://www.colliers.com.au/find_research/office/cbd_office_-_first_half_2016/" target="_blank"></a>
GUEST OBSERVER
Australian CBD office space is just one percent of global office floorspace, however for such a small market it is remarkably popular with investors.
In our 2015 Global Investor Outlook survey, Sydney and Melbourne were ranked as the second and third most popular destinations in which global investors wanted to target.
<a href="https://www.colliers.com.au/find_research/office/cbd_office_-_first_half_2016/" target="_blank"></a>
London, which has an office market more than three times larger than Sydney, ranked first.
<a href="https://www.colliers.com.au/find_research/office/cbd_office_-_first_half_2016/" target="_blank"></a>
Offshore investors now own 17 percent of Australian office stock, around twice as much as they did five years ago. Investment levels continue to rise. In 2015, offshore investors accounted for 67 percent of total direct investment in CBD office buildings. If indirect investment is included, the proportion is a lot higher.
<a href="https://www.colliers.com.au/find_research/office/cbd_office_-_first_half_2016/" target="_blank"></a>
Australia's strong economy, high transparency and low sovereign risk continue to play a key role in driving investment decisions. However, yield compression is continuing to occur and some investors are beginning to see Australia as too expensive. We consider this is unlikely to lead to a significant reduction in offshore investment in CBD office investment in 2016.
<a href="https://www.colliers.com.au/find_research/office/cbd_office_-_first_half_2016/" target="_blank"></a>
The key challenge for offshore investors is that although Australia is a particularly popular target, the small size of the market makes it difficult for them to access stock.
 
<a href="/images/2016/02/24/Screen%20Shot%202016-02-24%20at%201.10.27%20PM.png" target="_blank">Click to enlarge</a>
<img src="/images/2016/02/24/Screen%20Shot%202016-02-24%20at%201.10.27%20PM.png" alt="" width="790" height="554">
Nerida Conisbee is national director of research for Colliers International and can be contacted <a href="https://www.colliers.com/nerida.conisbee">here</a>.
 
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