Roseville is poised for a wave of new apartment development following the NSW Government's rezoning of land around Roseville Station under its Transport Oriented Development program.

The new planning controls have unlocked significant development potential within walking distance of the station, with a number of sites expected to be amalgamated and redeveloped in the coming years as developers seek to take advantage of the increased density allowances.

One of the more restrained developments in the precinct, and set among the first to be delivered having commenced well before the recent changes, is Hyecorp's Juliet. The boutique apartment project is already well under construction and remains on track to welcome residents by the end of the year, offering a markedly different proposition to many of the larger-scale developments now likely to emerge across the suburb.

[smartcode_project:default project_id=7395 project_image_fid=278194]

<a href="https://www.apartments.com.au/new-apartments/juliet-roseville-64-pacific-highway-roseville-nsw-2069">Juliet</a> will comprise just&nbsp;34 one-, two-, and three-bedroom apartments opposite Roseville Station. For Hyecorp, which has delivered projects across Sydney's Lower North Shore for more than three decades, Roseville presented a rare opportunity to address a growing gap in the market.

"<a href="https://www.apartments.com.au/developments/roseville-nsw-2069">Roseville</a> has long been one of the North Shore's most tightly held and desirable suburbs, offering a unique combination of village charm, established greenery, excellent transport connections, and proximity to some of Sydney's best schools and lifestyle amenities," Hyecorp said.

"We recognised a growing demand from local homeowners seeking to downsize without leaving the community they have built their lives around. The location presented a rare opportunity to create homes that cater specifically to that buyer profile."

[smartcode_project:default project_id=7395 project_image_fid=278196]

The six-level development has been designed by <a href="https://www.apartments.com.au/architects/pbd-architects">PBD Architects</a> as a collection of residences that feel more like homes than apartments. The brief centred generous floorplans, abundant natural light, quality finishes, and strong connections to outdoor space.

PBD Architects drew inspiration from Roseville's established garden suburb character, creating a building that sits comfortably within its surroundings rather than dominating them. The architecture incorporates natural materials, soft forms, layered landscaping, expansive balconies, and generous setbacks to strengthen the connection between residents and the suburb's leafy environment.

"The focus was on designing spacious, house-like residences for discerning owner-occupiers and downsizers who wanted to remain on the North Shore without compromising on comfort, privacy, or design," PBD said.&nbsp;

"Every apartment was to feel considered, timeless, and highly functional."

[smartcode_project:default project_id=7395 project_image_fid=278195]

Inside, residences feature engineered timber flooring, stone kitchen benchtops and splashbacks, integrated Fisher &amp; Paykel appliances, ducted air conditioning, and large outdoor entertaining areas designed to take advantage of district and treetop views.

Residents will also have access to a rooftop barbecue and lounge area, alongside practical amenities including parcel lockers, EV charging capability, bicycle storage, a dog wash bay, and a basement car wash facility.

The majority of purchasers so far have been local owner-occupiers from Roseville, Lindfield, Chatswood, Killara, and the broader Upper North Shore, many of whom are transitioning from larger family homes.

"Buyers are looking for spacious, house-like apartments that allow them to downsize without feeling like they are sacrificing comfort or functionality," Hyecorp noted.

"They value large kitchens, generous living areas, ample storage, quality finishes, secure parking, lift access, and low-maintenance living."

[smartcode_project:default project_id=7395 project_image_fid=278204]

Juliet sits directly opposite Roseville Train Station and within walking distance of Roseville Village, while Chatswood's retail and dining precinct is only minutes away. The development is also surrounded by some of Sydney's most established schools, including Roseville College, Ravenswood, Pymble Ladies' College, and Knox Grammar, as well as nearby parklands and golf courses.

Juliet is currently more than 75 per cent sold ahead of its anticipated completion in late 2026.

[smartcode_project_cta:default project_id=7395]

Joel Robinson

Juliet to sit quietly amid Roseville apartment boom

Sherpa Property Group has unveiled the third instalment of its Flourish series, securing full approval for the two-tower, $500 million Flourish Soleira development in Palm Beach.

<a href="https://www.apartments.com.au/new-apartments/flourish-soleira-1150-1154-gold-coast-highway-palm-beach-qld-4221">Flourish Soleira</a> will rise from a prominent site in the commercial heart of Palm Beach, the long-time home of Cash Converters and a range of local retailers.

The project will introduce a new retail and dining precinct at ground level, beneath 286 apartments.

[smartcode_project:default project_id=150017 project_image_fid=370959]

“We’re very committed to not only providing affordable residential offerings that are much needed in Palm Beach, but also delivering a vibrant new commercial heart that complements the extraordinary growth of the southern Gold Coast,” Sherpa Property Group founder Christie Leet said.

The development will sit under Sherpa's Flourish brand, which is aimed at providing a pathway into the beachside suburb for locals, first-home buyers and downsizers. In a move designed to assist first-home buyers entering the market, Sherpa has reserved all one and two-bedroom, one-bathroom apartments exclusively for eligible first-home buyers.

[smartcode_project:default project_id=150017 project_image_fid=370964]

“Our vision through Flourish is to create a vibrant retail and lifestyle focal point within the Palm Beach centre zone, delivering thriving communities underpinned by lifestyle-rich locations,” Leet said.

“So far, Flourish has been an incredible success, and we hope to carry this momentum as we progress the next two Flourish projects in Palm Beach.”

[smartcode_project:default project_id=150017 project_image_fid=371430]

Located across 1150-1164 Gold Coast Highway and 3 Sixth Avenue, the development will comprise two towers. The northern tower will deliver 154 apartments, while the southern tower will add a further 132 residences, helping address ongoing demand for new apartments in the tightly held coastal suburb.

Flourish Soleira will also feature the most extensive rooftop amenity offering ever delivered in Palm Beach.

The two towers will be connected by a skybridge, with residents gaining access to a rooftop recreation deck featuring a full-width swimming pool, hot and cold plunge pools, wellness spaces, a gymnasium, private dining facilities, massage treatment rooms, barbecue areas, a basketball court, golf simulator, indoor and outdoor dining spaces, sun lounges and extensive landscaping.

LPS Group is expected to start construction later this year.

Sherpa is already well advanced on construction of its debut Flourish project, Flourish Amargo, located just around the corner from Soleira. Meanwhile, Flourish Oasis, positioned opposite Amargo, recently commenced construction and has nearly sold out its collection of 47 apartments.

[smartcode_project_cta:default project_id=150017]

Sherpa unveils $500m mixed-use Palm Beach precinct, Flourish Soleira

Are mortgage holders set to get a reprieve from the RBA in 2026?

Big Four bank NAB believes so. They are now expecting the next move from the RBA to be a cut, rather than a hike, which they had pencilled in for August. They are unsure of the timing of the cut however, they note in their latest&nbsp;NAB Economics RBA Watch.

NAB Chief Economist, Dr Sally Auld, said recent data suggests the economy has lost momentum and the outlook for rates has shifted, noting that the broader economic backdrop has changed since earlier in the year.

“The next move in the cash rate is likely to be down, but the timing is uncertain," Dr Auld said.

"In February, growth was above trend, the economy was operating above capacity and there was uncertainty over the restrictiveness of rates. None of these conditions exist today,” she outlined.

Dr Auld said recent data pointed to softer momentum across the economy while acknowledging that at the same time, uncertainty remains a key feature of the outlook.

“Both Q1 GDP data and the NAB business survey suggest momentum in the economy has slowed, meaning that growth has likely peaked for the cycle. That said, we are cognisant there is still considerable uncertainty around the outlook, both with respect to activity and inflation.”

Dr Auld said inflation risks and labour market outcomes would be important to watch.

“On the prices side, we are still forecasting above target core inflation through to mid-2027. Margins will compress and weaker labour market outcomes are a risk.”

She said tighter financial conditions are expected to weigh on housing and activity.

“Tighter financial conditions will be reflected in a slowing in house price growth and housing credit growth. In summary, we have greater conviction that the next move in rates is down, but less conviction on the timing.”

Mortgage relief? NAB forecasts RBA rate cut, not hike, after softer economic conditions

A local downsizer has splashed $6.5 million on a penthouse in Perifa's Alex &amp; Willow development in Crows Nest. 
&nbsp; 
The purchaser sold their long-held family home in the area before embarking on a six-month search for the right apartment. After inspecting a range of options across the Lower North Shore, the buyer returned to <a href="https://www.apartments.com.au/new-apartments/alex-willow-crows-nest-82-90-alexander-street-crows-nest-nsw-2065">Alex &amp; Willow</a>. 
&nbsp; 
The buyer profile reflects the project’s broader purchaser mix. <a>Alex &amp; Willow</a> has attracted predominantly local downsizers looking to transition from larger homes without compromising on space or quality, alongside a smaller cohort of upsizers and investors drawn to the project’s location and design credentials. 
&nbsp; 
The milestone sale comes as the project, developed by&nbsp;<a href="https://www.apartments.com.au/developers/perifa">Perifa</a>&nbsp;and delivered by <a href="https://www.apartments.com.au/builders/versatile-made-construction">Versatile Construction</a>, both part of Versatile Group, reaches 60 per cent sold.

[smartcode_project:default project_id=6680 project_image_fid=371325] 
&nbsp; 
Eddie Mansour, Managing Partner of <a href="https://www.apartments.com.au/project-marketer/ray-white-projects">Ray White Projects</a>, said the result demonstrates not only a headline price but also depth of demand. 
&nbsp; 
“This is an exceptional outcome and a clear reflection of sustained buyer demand for premium, well-located downsizer product,” Mansour said.

“We’re seeing a consistent pattern of local homeowners selling family residences and reinvesting into high-quality apartments that allow them to remain within their community. Alex &amp; Willow has resonated strongly with this group because it offers genuine scale, thoughtful design and immediate proximity to the village.” 
&nbsp; 
The sale reflects a broader and consistent trend of local downsizers actively seeking high-quality, low-maintenance residences close to established village centres. Agents report that demand for this product type has remained resilient, particularly where developments offer a rare combination of scale, design quality and walkable amenity. 
&nbsp;&nbsp; 
Fabrizio Perilli, Managing Director of Perifa and Versatile Group, said the sale marks a defining moment for the project. 
&nbsp; 
“The penthouse sale is a strong endorsement of the quality we have delivered, alongside our partners, and the clear demand from local downsizers for premium, boutique residences in this location,” Perilli said.&nbsp; 
&nbsp; 
“Most importantly, we’re proud to see the Alex &amp; Willow community beginning to take shape. As we move closer to completion, we’re looking forward to welcoming residents and seeing the project come to life.”&nbsp;

[smartcode_project:default project_id=6680 project_image_fid=338516] 
&nbsp; 
Designed by <a href="https://www.apartments.com.au/architects/nettletontribe">Nettleton Tribe</a> with interiors by <a href="https://www.apartments.com.au/interior-designers/richards-stanisich">Richards Stanisich</a>, Alex &amp; Willow is a boutique collection of generously sized two- and three-bedroom residences in the heart of Crows Nest village.&nbsp;

Completion is slated for early 2027.

[smartcode_project_cta:default project_id=6680]

Alex & Willow, Crows Nest penthouse sells off the plan for $6.5 million

Fresh from launching the first stage of its Wollongong precinct, <a href="https://www.apartments.com.au/new-apartments/keira-place-wollongong-120-122-smith-street-wollongong-nsw-2500">Keira Place</a>, builder-developer Urban Property Group has unveiled plans for the next phase of the masterplanned community.

Now on public exhibition through the NSW Government's Housing Delivery Authority pathway is a State Significant Development Application for a further 657 homes on the prominent gateway site opposite Beaton Park.

The proposal comprises three buildings, including two build-to-sell towers rising 25 and 30 storeys, delivering 391 apartments, alongside a 12-storey co-living building with 266 residences, making it one of the largest co-living proposals currently planned in regional New South Wales.

Of the apartments proposed in the build-to-sell towers, the majority, 310, are two-bedroom dwellings. The balance comprises 44 one-bedroom apartments and 37 three-bedroom residences. Apartment sizes range from around 50 sqm for one-bedroom homes to approximately 90 sqm for three-bedroom apartments.

<img alt="Smith St" data-entity-type="file" data-entity-uuid="19347059-1612-41a0-9c74-b86a657237f8" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-06-10%20at%2010.02.18%E2%80%AFAM.png?VersionId=sWXnaCcA.cIC6N8YT1dg5pJ2e1V3Z6z7" />

The submission says the proposal has evolved significantly from its original Housing Delivery Authority application following extensive consultation with the State Design Review Panel and Wollongong City Council.

The final scheme has been designed to align with the emerging vision for the Flinders Street Precinct, an area identified by Council as a future high-density mixed-use neighbourhood capable of accommodating substantial housing growth close to transport, employment and community infrastructure.

According to the design report prepared by COX Architecture, the development aims to "deliver a built outcome consistent with the future character of the Wollongong CBD while responding to the site's unique constraints and opportunities."

"Our vision for the next phase of the site evolution in Wollongong is grounded in three design pillars that guide the design response: place, natural environment and celebration," COX said.

"Inspired by its surroundings and grounded in the stories of place on Wodi Wodi Country, the design proposal acknowledges the established character of its setting while creating a unique and timeless identity that sits harmoniously within it.

"The design proposal responds to its specific site conditions, acknowledging the vegetation, climate, wind conditions and solar access of the site."

The architecture responds directly to the site's position between Wollongong's urban core and its natural landscape setting.

COX identified views towards Mount Keira and the Illawarra Escarpment as defining features of the site, while the upper levels of the towers will also capture expansive views across the city and out to the Pacific Ocean.

The design team has positioned the tallest buildings closer to the rail corridor, where overshadowing impacts can be better managed while establishing a landmark built form on the northern approach into the city.

<img alt="Smith St" data-entity-type="file" data-entity-uuid="79580d5b-500c-4ebf-9629-797146a4a694" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-06-10%20at%209.51.59%E2%80%AFAM.png?VersionId=WbTB1EKSG.KDfsfz0F3wp1QVa2oCMGR5" />

Urban Property Group secured the 11,000 sqm Smith Street site in 2022 and has since progressed plans for the broader Keira Place precinct.

Construction recently commenced on the first stage of Keira Place, which will deliver 150 apartments across two residential buildings, including 27 affordable housing apartments and 18 specialist disability accommodation dwellings, alongside activated ground-floor retail and commercial space.

Urban Co-CEO Patrick Elias said the commencement of construction marked a significant milestone for Wollongong and reflected the developer's long-term commitment to regional cities.

"Today's groundbreaking is about turning approvals into homes and moving quickly to deliver much-needed housing in Wollongong's city centre," Elias said.

"Keira Place will provide a diverse mix of homes close to jobs, transport and services, while setting a high benchmark for quality, durability and consumer protection."

Read more:&nbsp;<a href="https://www.apartments.com.au/news/nsw/groundbreaking-marks-start-of-construction-at-keira-place-in-wollongong-cbd">Groundbreaking marks start of construction at Keira Place in Wollongong CBD</a>

&nbsp;

&nbsp;

&nbsp;

Urban Property Group unveils trio of towers for next stage of new Wollongong precinct, Keira Place

Office Sale

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An owner occupier has paid $445,000 for a strata office property at Malvern East in Melbourne’s inner east.
The 2004 Malvern Road auction secured $5300 a sqm.
The auction drew several bidders from a crowd of predominantly local owner-occupiers and investors.
The property comprises a fully self-contained, 85 sqm, strata office/retail premises with rear access via a right of way to two secure on-site car spaces and access to ample street parking. 
It was listed for rent as recently as May last year.
The vendor was a local private investor.
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Owner occupier bags Malvern strata office

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A private Asian buyer has splashed out $46 million on an Ashfield office.
The 223-227 Liverpool Road building had previously been bought by GDI Property Group in December 2016 for $35 million.
Knight Frank’s Tyler Talbot and Dominic Ong brokered the deal in conjunction with Savills on behalf of the GDI No 42 Office Trust.  
Talbot said that the property is 100% let to Property NSW (Department of Family &amp; Community Services) until December 2020. 
“Situated on a high profile corner site of approximately 2,812 square metres and zoned B4 mixed-use, 223-227 Liverpool Road has potential for redevelopment, with the incoming owner planning to refurbish the building,” he said.
“The six level office building comprises circa 9,719 square metres of NLA with basement parking for 185 cars, along with large efficient floor plates and excellent natural light.”
The property was marketed as offering convenient access to Sydney CBD, as well as shops, cafes and restaurants.
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Property NSW's Ashfield office building sells for $46 million

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A whole self contained office floor located on Melbourne's busy Little Collins Street has hit the market through Savills. The 153sqm office on <a href="http://commercialpropertysearch.savills.com.au/df82e5b0-15de-e611-80c7-005056813885/Sale/Melbourne/313-Little-Collins-Street">level 3 of 313 Little Collins Street</a> currently holds a new 5+5 year lease from October 2017 with a current income of $60,000 plus fixed annual three percent rental increases.
Savills agents Benson Zhou and Nick Peden, who are marketing the space, said the opportunity to acquire a whole office floor in a premium Melbourne location is extremely rare.
The office space located between Elizabeth Street and Swanston Street is being marketed for immediate private sale.
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Savills are marketing a fully leased Little Collins Street office

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A prominent office block in Parramatta has been listed for sale.
Savills agents Simon Fenn and Graeme Russell are marketing the building at <a href="http://commercialpropertysearch.savills.com.au/9d29caa3-3fc7-e611-80c4-005056816dfc/Sale/Parramatta/91-Phillip-Street" target="_blank">91 Phillip Street</a> as an Grade A trophy asset, in conjunction with Inc RE.
They say heightened tenant demand and a substantial amount of private and public sector investment in Parramatta has 91 Phillip Street placed to take advantage of the re-emergence of the Parramatta office market as it transitions into Sydney’s second CBD.
Positioned on a prominent corner site comprises 6,100 square metres of net lettable area and is anchored by ground floor retail and four levels of secure basement parking.
Fully leased, the 1985 building has a 4.5 Star NABERS Energy Rating and an estimated net income of around $2.9 million.
It last traded for $30 million in 2015 and is being sold via an expressions of interest campaign that ends on the 8th of August.
Corelogic recently reported the commercial property market in Parramatta was "gaining strength" with $757 million worth of sales reported in the year to March 2018. 
It included the sale of 1-3 Fitzwilliam Street at $82 million by Raffles Education Corporation Ltd, which has its headquarters in Singapore and is listed on the Singapore Exchange.
The purchaser, the Propertylink Group, is a leading investment manager of Australian investment grade property. 
According to Parramatta Cityscope 1-3 Fitzwilliam Street is a seven-storey office building with basement car parking for 106 vehicles plus a roof-top sports floor, tennis court and sauna.
Raffles bought the building for $29 million in 2014.
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Prominent Parramatta office block listed through Savills

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Collette Dinnigan is looking at selling her longtime Surry Hills headquarters.
The <a href="/developments/surry-hills-nsw-2010">22-24 Hutchinson Street</a> has been proposed for a $6.9 million conversion into 11 apartments by the O'Neil eastern suburbs developer family outfit, Addenbrooke. 
She bought the business’ current headquarters for $1,225,000 in the late 1990s.
Dinnigan's main focus now is on launching Bespoke Homes, the luxury rental platform she's developing with her husband, hotel and tourism entrepreneur Bradley Cocks.
They've already gathered a number of properties, including a <a href="/news/colette-dinnigan-secures-400-year-old-puglia-italy-farmhouse">400 year old farmhouse in Italy.</a>
<a href="/news/colette-dinnigan-secures-400-year-old-puglia-italy-farmhouse">She's recently secured the sale of her </a><a href="/news/colette-dinnigan-secures-400-year-old-puglia-italy-farmhouse">flagship store on William Street.</a>
 
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Collette Dinnigan looks to sell Surry Hills HQ to O'Neil family

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EG, one of Australia’s leading real estate fund managers, has acquired the first asset for the High Income Sustainable Office Trust (HISOT). 
The East Block asset is a strategically located heritage asset in the Parliamentary Triangle, Canberra. 
EG will improve the energy efficiency of the building by leveraging technological advances and active asset management under the HISOT mandate. It will form a key part of the future revitalisation of the Canberra precinct.
“EG are pleased to see the compelling sustainable investment fund launch with a strongly placed asset that will benefit from the uplift in energy savings and active asset management strategy,” say EG's Aurelio di Napoli.
The property has a net lettable area of approximately 4,958 sqm and has an eight year WALE following the completion of Lessor works. The current tenant is the National Archives of Australia.
EG’s HISOT fund had its first close in 2016. The fund mandate is to target assets that will benefit from raising the NABERS rating. It is underpinned by a strong ethical and environmental commitment by the unit holders that will reduce the overall impact of a building while driving a significant increase in the asset value.
The Clean Energy Finance Corporation was a cornerstone equity investor in HISOT.
 CEFC Investment Funds Lead Rory Lonergan said the CEFC is delighted to see their investment in HISOT contributing to energy efficiency improvements in this iconic precinct.
"This is another demonstration of the flexibility and suitability of clean energy across our built environment.
"It’s absolutely vital that new buildings are built to the highest energy standards as we move to zero carbon emissions.
"It’s equally important that we make these improvements to existing buildings, extending their life as well as ensuring they benefit from latest technologies which reduce energy costs and lower their carbon footprint.
“Through our investment in the HISOT, the CEFC is keen to see the development and refurbishment of older buildings. 
"Energy efficient buildings have lower operating costs and have the potential to provide higher net operating income with lower vacancy rates, providing clear benefits to building owners, investors and tenants.”
The vendor was Commonwealth of Australia and the deal was brokered by Tony Massaro and the PwC Real Estate Advisory Team in Sydney.
 
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jrobinson-rf4aSBido9

EG pays $15.4 million for central Canberra office asset

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The Gosford ATO office building, which is still under construction, is under offer, through the real estate agency Colliers International.
The <a href="https://www.colliers.com.au/114152/" target="_blank">99 Georgiana Terrace and 38 Mann Street</a> holding, comprises a 7,150 sqm office building to be completed in late 2017 and a two-storey heritage building which will be renovated for retail, café or boutique office use.
The Commonwealth Government has committed to a 10-year lease in 99 Georgiana Terrace, with two further options of five-years, representing 97 percent of the asset’s total income.
The properties were marketed through an expressions of interest campaign that closed on October 5.
“Offered by one of Canberra’s largest investment and development companies, Doma Group, this property is an incredible opportunity in the Central Coast’s commercial hub,” said Paul Powderly of Colliers International, who along with his colleagues Tim Mutton, Adam Leacy and James Barber were tasked with the marketing campaign.
The total net lettable area is 7,380 sqm.
The office building, close to Gosford CBD, delivers a secure income stream due to its high-profile tenancy in the Commonwealth Government and a fixed 3.5% review mechanism over the term of the lease.
<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/2017/11/7/Gosford2.jpg" alt="">
The population of the NSW Central Coast is expected to grow by 70,000 to around 409,000 over the next two decades, which will require over 30,000 new jobs to be created over the next 16 years.
“Gosford is perfectly primed to benefit from its proximity to Sydney, growing population and beautiful surrounds,” said Adam Leacy.
“The property is bounded by Georgiana Terrace and Mann Street, only minutes from the CBD and adjacent to Gosford City Park, meaning it is the ideal location for office space in this booming part of the New South Wales economy."
The Doma Group has been a significant participant in the property industry across the residential, commercial, retail and hospitality sectors for over 40 years – and recently secured the rights to develop the new 13,000 sqm ACT Government office in Dickson with a 20 year pre-commitment.
 
 
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Gosford ATO office listed, under offer

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A two-story Fortitude Valley commercial office has sold for $2,625,000 to a local investor through Savills.
The <a href="https://www.realcommercial.com.au/property-offices-qld-fortitude+valley-502217670" target="_blank">141 Robertson Street</a> property sits on a 546 sqm site. 
The building has 660 sqm of floor area spanning over two storeys, and is close to the James Street retail precinct. 
The selling agents were Savills’ Jack Morrison and Nick Russell, who marketed the property via expressions of interest.
The buyer has appointed Apollo Property Group to refurbish the property.  
The James Street retail precinct continues to build momentum, with the opening of the second freestanding David Jones store in Australia, and the current construction of the high end boutique hotel, The Calile. 
 
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jonathanchancellor-7SQnKwU6yx

Office building in Brisbane’s tightly held Fortitude Valley precinct sells for $2.625 million

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<div>A private syndicate has bought Nissan’s Melbourne headquarters for $35 million.</div>
<div> </div>
<div>The 11 ha industrial Dandenong South offering was sold through CBRE’s David Aiello and Stephen Adgemis who negotiated the sale after more than 80 enquiries.</div>
<div> </div>
<div>The <a href="https://www.realcommercial.com.au/property-industrial+warehouse-vic-dandenong+south-502370698" target="_blank">260-270 Frankston-Dandenong Road</a> site accommodates Nissan’s corporate office and parts warehousing operations.</div>
<div> </div>
<div>Nissan plan to secure a new Australian corporate head office.</div>
<div> </div>
<div>Nissan Australia chief financial officer Stephen Hope signalled their upcoming relocation of the parts warehouse facility to Truganina.</div>
<div> </div>
<div><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/2017/10/27/Nissan-2.jpg" alt=""></div>
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Nissan's Dandenong South headquarters sold for $35 million

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A fully leased office building in Port Melbourne is on the market with expectations of more than $40 million.
The four-level building at <a href="https://www.realcommercial.com.au/property-offices-vic-port+melbourne-502554838" target="_blank">187 Todd Road</a> is home to five high-profile tenants, including Wesfarmers’ Workwear Group, Emirates Retail Leisure and George Weston Foods, returning about $2,687,020 per annum in net passing income.
The asset will be sold via an expressions of interest campaign closing October 11.
The marketing is being handled for on behalf of Terraplex by Colliers International’s Peter Bremner, Rob Joyes and Leigh Melbourne, along with Dawkins Occhiuto’s Andrew Dawkins, Walter Occhiuto and Chris Jones.
Bremner said they were expecting interest from local and offshore private investors, syndicates and institutions.
“The property has always attracted blue-chip tenants,” he said.
“The tenancy is currently headlined by Workwear Group, Emirates Retail Leisure and George Weston Foods, generating a diversified income stream with a varied expiry profile.”
“There are no imminent lease expiries and all leases are structured with fixed annual reviews, which contributes to a diversified 4.1-year WALE.”
Fairfax Media added that the building was initially built for Boeing Industries nearly 20 years ago, and previously occupied by Kraft Foods.
Dawkins said the Fishermans Bend location, opposite the state government’s recently purchased General Motors site, was a key selling point.
“Fishermans Bend is undeniably the next chapter in Melbourne’s employment, industry and population growth story,” he said.
Port Melbourne office rents are also more affordable compared with those in other markets, such as the city fringe, St Kilda Road, South Melbourne and the inner east
“The average office rent for 187 Todd Road is circa $250 per sqm per annum and, being located outside the city’s Congestion Levy zone, the property presents occupiers with a 35 to 40 per cent total occupancy cost saving when compared to the surrounding office markets,” said Joyes.
“With city-fringe vacancy sitting at about 2.09 per cent, and limited new supply in the pipeline for Port Melbourne, rental growth is expected to be strong into the future.”
The building has a net lettable area (NLA) of about 9,212.7 sqm, a 3.5-star NABERS rating and 344 undercover car spaces, plus 10 on-grade visitor parks.
 
 
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