The long-awaited redevelopment of the former Eastlakes Shopping Centre site has reached a major milestone, with Conquest's plans for a new mixed-use precinct officially placed on public exhibition.

The State Significant Development Application would transform the 1.7-hectare site at <a href="https://www.apartments.com.au/new-apartments/19a-evans-avenue-eastlakes-nsw-2018">19A Evans Avenue</a> into one of Sydney's largest urban renewal projects, delivering 736 apartments above a new shopping centre anchored by Woolworths, alongside specialty retail, dining, commercial space and new public open spaces.

The public exhibition marks the next chapter for the project after <a href="https://www.apartments.com.au/developers/conquest">Conquest</a> acquired the stalled Stage Two development from Crown Group, who completed the first stage across the road prior to their voluntary liquidation.

<img alt="First look: Conquest unveils plans for 736-home Eastlakes Shopping Centre redevelopment" data-entity-type="file" data-entity-uuid="5fca22c5-d1ed-4e2c-8801-03f7df1eafc8" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/eastland%20podium.png?VersionId=uomwr41nF8CmLUZRDcu3mHQechlbxucS" />

&nbsp;

Designed by DKO Architecture, the proposal comprises four residential buildings ranging from 14 to 18 storeys above a two-level retail podium. The development would deliver 736 apartments, including 74 affordable homes, 215 Build-to-Rent apartments and 521 market residences. Provision has also been made for dual-key apartments, which could increase the total number of dwellings to 877.

At ground level, the shopping centre has been designed as the suburb's new meeting place, anchored by a full-line Woolworths and complemented by a curated mix of fresh food retailers, cafés, restaurants, health services and everyday convenience shopping. Generous pedestrian links and landscaped public spaces will connect the retail precinct through to Jack Mundey Reserve, creating a more walkable and connected neighbourhood.

Conquest CEO Michael Akkawi said the redevelopment was about far more than replacing a shopping centre.

"Eastlakes has been overlooked for too long, and this is the community’s moment. We are building a shopping centre and homes, a genuine heart for the suburb, and we genuinely want locals to help shape it."

"We enrich communities through the creation of homes, places, and experiences designed for life, built to last, and owner for generations. That starts with listening, so we warmly encourage everyone with a connection to Eastlakes to view the plans and share their thoughts."

<img alt="First look: Conquest unveils plans for 736-home Eastlakes Shopping Centre redevelopment" data-entity-type="file" data-entity-uuid="22f6fb20-54fb-4bd7-8a92-48fafdd00608" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/eastland.png?VersionId=cugp7s9hrMHGJJdYzkeAkrFoQgnF4GXf" />

DKO said the design had been shaped by the site's landscape setting and surrounding open space.

"Our vision for the site embraces its unique Bidjigal identity by blending the residential living with generous landscaping and a material palette inspired by the Bidjigal locality, and celebrating the panoramic views to Botany Bay and the wetlands reserves."

"Taking cues from Country, we seek to harmonise built form with the landscape and lightly touch the earth. By reconnecting, retaining and regenerating existing ecology, and weaving in natural elements, we can deepen our connection to Country."

The landscape strategy extends across the podium and rooftops, incorporating communal gardens, children's play areas, lawns, community gardens, family gathering spaces and extensive tree planting. New landscaped links will also strengthen the connection between the precinct and Jack Mundey Reserve, while publicly accessible open spaces have been integrated throughout the development.

The proposal builds on Conquest's broader placemaking strategy for the site. Through an ongoing partnership, local artist Joe Rashbrook has been appointed Urban Art Curator, working alongside young residents to transform the project's site hoardings into a public art gallery that allows the community to engage with the redevelopment before construction is complete.

Conquest has rapidly expanded its development pipeline since acquiring the Eastlakes site, with more than $6 billion worth of mixed-use projects now in planning across Sydney, including Stanmore, Castlecrag and Waterloo.

Conquest CEO Michael Akkawi said the redevelopment was about far more than replacing a shopping centre.

Joel Robinson

First look: ‘Far more than replacing a shopping centre’ as Conquest unveils 736-home Eastlakes redevelopment

Abadeen has lodged a State Significant Development Application (SSDA) for one of Mosman's largest apartment developments in recent years, seeking approval to transform the former Honeysuckle Garden and Midas site on Military Road into a 100-apartment mixed-use development.

The SSDA, lodged with investment partner Phoenix Property Investors, proposes around $230 million worth of new housing on the prominent <a href="https://www.apartments.com.au/new-apartments/494-516-military-road-mosman-nsw-2088">494-516 Military Road</a> site.

The proposal comes as Mosman Council continues to progress its recently endorsed Masterplan, which identifies the precinct for increased housing density while maintaining the suburb's established character.

Designed by DKO Architecture, the development would comprise 100 apartments above ground-floor retail, with a rooftop wellness precinct including a gym, sauna, entertaining areas and landscaped communal spaces.

Rather than pushing to the full 12-storey height identified in Council's Masterplan, the proposal ranges between five and nine storeys, stepping down towards Hale Road. A tenth level would accommodate resident amenities rather than additional apartments.

The project has been designed to appeal to a broad range of buyers, from first home buyers and young professionals through to families and local downsizers looking to remain on the Lower North Shore.

<img alt="Mosman" data-entity-type="file" data-entity-uuid="5dada03f-5b4c-43ba-ba62-2868add31440" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-07-27%20at%209.57.55%E2%80%AFAM.png?VersionId=7LBy0B.Jo8_iWAFJsClcV7Q3UnXrv49r" />

Abadeen Executive Chairman Justin Brown said the apartments had been designed as genuine long-term homes rather than investor-focused stock.

"The apartments have been designed as genuine long-term homes, with efficient floorplans that maximise usable living areas, generous storage, natural light and strong connections between indoor and outdoor spaces," Brown says."

"We've focused on creating homes for a broad range of buyers, from first home buyers and growing families through to downsizers who want to remain in Mosman."

The rooftop wellness offering forms a key part of the proposal, with residents set to have access to a gym, sauna, outdoor entertaining spaces, communal dining areas, landscaped gardens and a multi-use recreation court overlooking Sydney Harbour.

<img alt="Mosman" data-entity-type="file" data-entity-uuid="d37c2d6b-583a-4a0f-b7a9-9f46b893d2f4" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-07-27%20at%209.58.06%E2%80%AFAM.png?VersionId=FPoa5FCm2RtzjhAh2w5FTWJbV6GHfY8D" />

DKO drew heavily on the site's natural and cultural history, undertaking a Connecting with Country process with local Aboriginal Elders to inform the architectural and landscape design.

Senior Associate Matthew Ritchard said the design sought to create a building that responded to both the site's landscape and its cultural significance.

"The architectural language of the project is a deep expression of Connecting with Country, where the materiality and colour palette serve as a bridge between the site's geological history and its future as a residential sanctuary."

The proposal also retains the site's established blue gum tree as the centrepiece of the communal landscaped gardens, while introducing activated retail fronting Military Road to strengthen the connection between Mosman and Cremorne villages.

If approved, the project would deliver 100 new homes within walking distance of shops, public transport, schools and local amenities, adding to the limited pipeline of new apartments on the Lower North Shore.

<h2>Project Snapshot</h2>

Project: Honeysuckle Garden Redevelopment

Address: 494-516 Military Road, Mosman

Developer: Abadeen and Phoenix Property Investors

Architect: DKO Architecture

Lead Architect: Matthew Ritchard

Value: $230 million

Residences: 100 apartments

Key features:

<ul>
	<li>
	Ground-floor retail
	</li>
	<li>
	Rooftop wellness precinct
	</li>
	<li>
	Gym and sauna
	</li>
	<li>
	Outdoor entertaining and BBQ areas
	</li>
	<li>
	Landscaped communal gardens
	</li>
	<li>
	Multi-use recreation court
	</li>
	<li>
	Retained mature blue gum tree
	</li>
	<li>
	Connecting with Country design process
	</li>
	<li>
	Harbour, CBD and Balmoral views from upper-level apartments
	</li>
</ul>

Abadeen Executive Chairman Justin Brown said the apartments had been designed as genuine long-term homes rather than investor-focused stock

First look: Abadeen plans 100 apartments on former Honeysuckle Garden site in Mosman

The wave of apartment proposals sweeping through Mosman shows no signs of slowing, with another major residential development lodged through the NSW Government's State Significant Development pathway.

Developer First Quadrant Properties, which recently completed Willoughby Grounds and has several projects in planning across the North Shore, has unveiled plans for <a href="https://www.apartments.com.au/new-apartments/cove-on-ourimbah-40-56-ourimbah-road-mosman-nsw-2088">Cove on Ourimbah</a>, a 63-apartment development on Ourimbah Road, adding to the growing pipeline of projects reshaping one of Sydney's most tightly held harbour suburbs.

The proposal would consolidate nine properties at 40-56 Ourimbah Road into a part eight, part nine-storey apartment building, continuing the momentum created by the NSW Government's accelerated planning pathways that have seen several significant developments emerge across Mosman over the past 12 months.

Designed by Doroch Architects, the project would deliver 63 apartments, resident wellness facilities including a gym, pool and sauna, landscaped communal spaces and basement parking, while using recessed upper levels, generous setbacks and extensive planting to reduce the perceived scale of the building.

<img alt="First look: First Quadrant Properties eyes nine-storey Mosman apartment project under State Significant pathway" data-entity-type="file" data-entity-uuid="32ee68e4-141e-4a10-8f83-48e961a5e71e" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Ourimbah%20Road%2C%20Mosman%20a.png?VersionId=CUeILFc6APlwXPc.iplElbxHvREKwjig" />

Doroch Architects said the building had been designed to reinforce Mosman's established character.

"The building's aesthetic is grounded in the existing residential character of Ourimbah Road and the broader Mosman context," the architect noted in the planning documents submitted to the NSW Government.

The design adopts a contemporary material palette of natural stone, textured concrete and brown concave metal cladding, complemented by integrated planters and deep balconies. The podium incorporates softened curved concrete forms, while increased setbacks have been provided adjacent to the heritage-listed property at 60 Ourimbah Road to create a more sympathetic transition.

The site sits around 330 metres from Mosman Town Centre, placing it within the NSW Government's Low and Mid-Rise Housing policy area, where increased residential density is being encouraged close to shops, transport and services.

The proposal follows a string of major apartment projects lodged or declared State Significant in Mosman in recent months, including Abadeen's 100-apartment Honeysuckle Garden redevelopment on Military Road and several other developments across Awaba Street, Redan Street and Muston Street from the likes of Time &amp; Place, HELM and Prosker Property.

&nbsp;

Read more:&nbsp;<a href="https://www.apartments.com.au/news/nsw/time-place-to-take-on-mosman-apartment-market">Time &amp; Place to take on Mosman apartment market</a>

Read more:&nbsp;<a href="https://www.apartments.com.au/news/qld/first-look-abadeen-plans-100-apartments-on-former-honeysuckle-garden-site-in-mosman">First look: Abadeen plans 100 apartments on former Honeysuckle Garden site in Mosman</a>

&nbsp;

First look: Another major apartment proposal signals Mosman's development boom

A new State Significant Development Application (SSDA) could reshape a prominent vacant site in Gosford's CBD, with Ming Tian Real Property proposing a mixed-use precinct that combines affordable housing, retail activation and a new public plaza.

The proposal for 43-45 Beane Street and 2 Keevers Lane would deliver a <a href="https://www.apartments.com.au/new-apartments/43-45-beane-street-gosford-nsw-2250">two-building development</a> comprising a 26-storey residential tower and a five-storey affordable housing building above ground-floor commercial space. A key focus of the project is the delivery of dedicated affordable housing alongside new public domain improvements designed to transform Keevers Lane into a more active urban destination.

Designed by <a href="https://www.apartments.com.au/architects/tony-owen-partners">Tony Owen Partners</a>, the development would provide 130 apartments, including 20 affordable housing dwellings managed by a registered community housing provider for at least 15 years. The market housing component comprises 110 apartments across a mix of one, two and three-bedroom residences, while the affordable housing includes six one-bedroom, 13 two-bedroom and one three-bedroom apartment. The proposal also incorporates 416 sqm of ground-floor retail, three basement levels accommodating 140 car spaces, 42 bicycle spaces, communal open space and extensive landscaping.

<img alt="First look: Ming Tian Real Property plans landmark affordable housing tower for Gosford city centre" data-entity-type="file" data-entity-uuid="9b858791-9060-4ee7-9178-44cb9e640a85" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Beane%20Street%20b_0.png?VersionId=_jbY0mqPEs7.jBZxozR7d6T4u85FoPmb" />

The affordable housing component has been distributed across both buildings, with four apartments located within the main tower and a dedicated five-storey building delivering a further 16 affordable homes. The project also includes 12 adaptable apartments and 24 dwellings designed to Silver Level Liveable Housing Guidelines.

The architectural design draws inspiration from Indigenous storytelling.

"The design is based on the indigenous motif of the Rainbow Serpent," Tony Owen Partners said in the Design Verification Statement.

"The Rainbow Serpent is a traditional totem of coastal eastern Australia. It represents natural forces, creation, change, and rebirth and is often associated with bodies of water. This motif can be seen in the undulation of the balconies rising on the building," Tony Owen Partners said in the Design Verification Statement.

Beyond the residential offering, the proposal seeks to revitalise the surrounding public realm, particularly Keevers Lane.

"The ground floor streetscape includes a commercial and dining precinct which will significantly improve the amenity of the area. This strategy transforms a currently inhospitable laneway into a thriving centre of urban renewal and day and night time activation to compliment the new adjoining UNC facilities," the architects said.

<img alt="First look: Ming Tian Real Property plans landmark affordable housing tower for Gosford city centre" data-entity-type="file" data-entity-uuid="36b0ca6b-af15-424c-81db-9f3049c07b0c" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Beane%20Street%20podium.png?VersionId=QCAv7bCitrg3zIGZUHI2z_HR8qVfKbp1" />

The Environmental Impact Statement notes that the project aims to "improve the provision of diverse housing options within Gosford City Centre, enhancing the mixed-use precinct by delivering high quality residential development, whilst concurrently providing a diverse range of housing choices through the provision of affordable housing, which is in growing need within the Gosford City Centre."

The site occupies approximately 2,070 sqm in the Gosford city centre, around 250 metres from Gosford Railway Station and within walking distance of Gosford Hospital, Mann Street's retail precinct and the University of Newcastle's Gosford campus currently under construction. The currently vacant site previously received approval for a lower-scale residential development, with the new proposal leveraging the NSW Government's in-fill affordable housing pathway to increase density while introducing dedicated affordable housing.

First look: Rainbow Serpent inspires bold new Gosford apartment tower

Developer <a href="https://www.apartments.com.au/developers/bottega-property-group">Bottega House</a> has secured council approval for its first Brisbane project - a $270 million luxury residential development on an absolute riverfront site in leafy St Lucia.&nbsp;

The 15-storey project, known as <a href="https://www.apartments.com.au/new-apartments/st-lucia-by-bottega-house-180-macquarie-street-st-lucia-qld-4067">St Lucia by Bottega House</a> , will occupy a prime north-facing site at 178-180 Macquarie Street, directly fronting the Brisbane River in the established inner-west suburb known for its rowing clubs, golf courses and sprawling University of Queensland campus.&nbsp;

St Lucia by Bottega House will feature a suite of amenities including dedicated wellness spaces, a mineral pool and cold plunge. The project has been positioned to attract affluent owner-occupiers seeking high-quality, house-sized apartments.&nbsp;

Bottega House has been set up by co-directors Nick Malloch, Louis Mennes and Craig Marsh.

Malloch said the project drew inspiration from its Brisbane River setting and leafy inner-west surrounds, while responding to the demands of discerning locals looking to transition from freestanding homes into apartment living.&nbsp;

"With an expansive river frontage and lush green surrounds, we knew we had to create something special that reflects the natural beauty of the location while offering residents masterfully crafted homes," said Malloch.&nbsp;

"Our intent was to complement the project's quiet, private setting by introducing residences that offer a calm retreat and sanctuary from the everyday. The result is a harmonious blend of architecture, interiors and amenity that emphasises wellbeing, comfort and beauty without excess."&nbsp;

Malloch added that project consultants had been carefully selected in alignment with Bottega House's commitment to care, quality and attention to detail. The design team includes architects <a href="https://www.apartments.com.au/architects/plus-studio">Plus Studio</a>, interiors practice <a href="https://www.apartments.com.au/interior-designers/mim-design">Mim Design</a> and landscaping by <a href="https://www.apartments.com.au/architects/urbis">Urbis</a>.&nbsp;

Three-bedroom apartments are expected to start around $5 millio. Selling agents Keenan &amp; Byrne said the pricing strategy for the project was anticipated to achieve upwards of $25,500 per square metre.&nbsp;

The project's development approval this week follows the success of Bottega House's inaugural Queensland project - a 22-storey collection of full-floor sky homes at Broadbeach on the Gold Coast which included the sale of a two-storey penthouse at a record price for a beachside residence.&nbsp;

St Lucia by Bottega House is expected to launch to market in November, with construction anticipated to be completed mid 2029.

[smartcode_project_cta:default project_id=151826]

Bottega House to make Brisbane debut with St Lucia riverfront apartment development

Office Sale

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An office building with ground floor retail in Melbourne’s Dockland has been listed.
The <a href="https://www.realcommercial.com.au/property-retail-vic-docklands-501131087" target="_blank">800 Collins Street</a> asset is a modern A-Grade building which is fully occupied and includes tenants such as retail giant Myer and Latitude Financial Services (formerly GE Money) who have entered into a 10-year lease. 
Savills Investment Management (on behalf of one of their global mandates) and Australian Prime Property Fund Commercial, managed by Lendlease Investment Management, are collectively selling their 100% interest in the asset.
The property could fetch around $270 million, according to The Australian.
The building incorporates ground floor retail shops and 10 upper levels of office space with two levels of parking. 
The marketing is being done by Savills Australia’s Ian Hetherington, Simon Fenn and Ben Azar along with JLL’s Langton McHarg and Paul Kempton. The building is for sale via an expressions of interest campaign ending November 1.
Built in 2010, the building comprises 28,619 sqm of office space, 873.4 sqm of retail space and total capacity equalling 29,492.6 sqm with expansive floorplates of circa 2,900sqm.
The complex serves as the ­National Support Office for Myers.
The A-Grade building has a 5 star NABERS rating.
It is connected directly to the Melbourne CBD, Southern Cross and Flinders Street rail stations.  
“The Melbourne office market is rated by JLL in the top two best performing office destinations in the world making Melbourne office assets very attractive in comparison to other office markets,” said JLL’s Langton McHarg.
“Over the last two years Melbourne has continued to increase its relevance on the global investment stage and is forecast to become Australia’s largest city by 2030. It is experiencing a phase of extraordinary positivity due to its strong economy, infrastructure and culture that is extending across all of its property markets.” 
<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/2017/10/04/800Collins1.jpg" alt="">
According to Ian Hetherington of Savills, the Docklands precinct has emerged as an important commercial location. 
“800 Collins Street will attract the focus of investors globally and we are anticipating very strong interest in this asset, particularly because of its prominent Collins Street location and desirable building features” he said.  
Vacancy rates are about 1 per cent at present and the area is popular with tenants in the banking, finance and insurance sectors due to the larger floor plates and ‘campus style’ buildings, he added.
An upgrade of the lobby and end of trip facilities is currently underway. 
According to the Property Council of Australia (PCA) as at July, 2017, the total amount of office stock recorded in the Melbourne CBD was circa 4.5 million square metres. The Docklands precinct has some 19.8 per cent of the total CBD stock. Since its inception in 2004, about 900,000 square metres of office space has been developed in the precinct, which is now home to several of Australia’s leading corporates. 
 
 
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jonathanchancellor-7SQnKwU6yx

800 Collins Street listed for sale

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A leased office building with development potential in the Sydney CBD has been put up for sale by fund manager Centuria with price expectations of more than $220 million.
Centuria will be selling 100 per cent freehold interest in Swire House, <a href="https://centuria.com.au/unlisted-property-funds/property-portfolio/10-spring-street-sydney/" target="_blank">10 Spring Street</a>, according to Savills, which is marketing the property along with INC Real Estate.
Recent stock withdrawals for residential conversion and the Sydney Metro has created  strong demand for B Grade office space in the Sydney CBD, while driving down yields, according to Savills.
The subsequent spike in rents, coupled with limited opportunities to purchase investments (particularly those with supersite development potential), has driven yields down as local private and institutional money and offshore capital try to secure assets to cash in on tenant demand.
The Spring Street building has 53 per cent of leases up for renewal in the next 24 months. 
The 13,871 sqm building sits on a site area of 1,505 sqm and has large, effective floor plates over 17 levels including retail, with floor to ceiling glass windows and harbour views from the upper floors.
It last changed hands for $91,638,000 in 2013, according to Corelogic RP Data.
The listing agents are Simon Fenn, Graeme Russell and Ben Azar of Savills Australia and Josh Cullen and Rick Butler of INC Real Estate.
<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/2017/06/28/SpringSt2.jpg" alt="">
The refurbished building offers a short Weighted Average Lease Expiry (WALE) and existing vacancy on the upper floors, allowing for positive reversion to be captured, said Simon Fenn of Savills. 
“This is the right asset for both local and global capital who will be attracted by the 100 per cent ownership, the immediate reversion potential and the opportunity to secure a large site with development potential in the core of the CBD” he said.
The property’s development upside is on an ‘as is’ basis as the current building is under the allowable FSR, with further upside of a ‘Super Site’ if a larger site can be amalgamated.
A potential supersite could be created by amalgamating adjoining assets. Depending on which sites are acquired a 300m height limit is possible with 80,000 sqm of NLA or a potential overall site area of 3,015 sqm. 
 
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Sydney CBD office building listed with $220 million hopes 

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Listed property group Dexus has entered into an agreement to acquire the landmark heritage office building in Sydney’s Pyrmont for $327.5 million, the largest office transaction in the suburb’s history.
Dexus agreed a 100 percent freehold stake in <a href="https://www.realcommercial.com.au/property-offices-nsw-pyrmont-502222974" target="_blank">100 Harris Street</a> at a fully leased yield of 5.4 percent. Among its tenants are co-working platform WeWork and Fairfax’s Domain. 
Originally a wool store from the 1890s, the refurbished heritage property comprises 26,879 sqm of A-Grade office space over six levels. 
The property sits on a 7,791 sqm site with frontages on both Harris Street and Pyrmont Street.
The sale was negotiated on behalf of Citi 100 by JLL’s James Aroney along with Karbon Property’s Joshua Watts. The property is owned by Ukrainian born property developer Michael Teplitsky.
Included in the offering is 130 Harris Street, to the south of the existing building, with new office and retail space and car parking.
The development will provide retail space fronting Harris Street is expected to be completed by October. 
The agents said demand for 100 Harris Street reflects an international movement to refurbished unique assets, with creative locations such as South of Market in San Francisco attracting a higher rate per sqm and tighter yields than their counterparts in the CBD.
The movement is following the trend of the tech industry that value brick and timber large floor plate workspaces, they said.
<img src="https://www.urban.com.au/images/2017/06/21/HarrisSt2.png" alt="">
Karbon Property’s Joshua Watts said that Pyrmont is viewed as an extension of the CBD. 
100 Harris Street offered buyers an attractive weighted average lease expiry (WALE) of 7.6 years, he said.
“As a significant contributor to the Sydney fringe market, Pyrmont has been experiencing continuing strong rental growth, outperforming other office markets around the country,” Aroney said.
The Ukrainian-born property developer Michael Teplitsky listed its with expectations it could fetch $330 million.
<img src="https://www.afr.com/content/dam/images/g/v/x/a/i/4/image.imgtype.afrArticleInline.620x0.png/1493701254988.jpg" alt="100 Harris Street - AFR USE ONLY! NO OTHER USE ALLOWED." width="620" height="404" data-src="/content/dam/images/g/v/x/a/i/4/image.imgtype.afrArticleInline.620x0.png/1493701254988.jpg">
Pyrmont is the technology hub of Sydney mirroring many international technology hubs including San Francisco’s South of Market, New York’s Meatpacking District and London’s Shoreditch where WeWork also has a presence.
<img src="https://www.afr.com/content/dam/images/g/v/x/a/i/7/image.imgtype.afrArticleInline.620x0.png/1493701161551.jpg" alt="100 Harris Street - AFR FIRST USE ONLY! MAY 2017" width="620" height="914" data-src="/content/dam/images/g/v/x/a/i/7/image.imgtype.afrArticleInline.620x0.png/1493701161551.jpg"> 
Meanwhile the listed property group Dexus will raise $500 million for the purchase of a stake in Sydney's tallest office tower. 
Dexus will take a 25 stake in the MLC Centre at 19 Martin Place for $361.3 million with its wholesale property fund taking the other quarter share. 
The 68,289 square metre MLC tower at Martin Place was placed on the market by QIC Global Real Estate in March.
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prateek24-ezbwHMbNAk

Dexus to buy Teplitsky's Pyrmont building for $327.5 million

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Propertylink has entered into a contract with ARA Australia and Straits Real Estate to sell 320 Pitt Street Sydney for $275 million.
Sale completion is slated to occur July 2017.   
The sale price represents a 12.2 percent premium to current book value.
Propertylink purchased the property in partnership with Grosvenor Group and Goldman Sachs in June 2015 for $200 million on an acquisition yield of 8.27 percent.
<img src="https://www.urban.com.au/images/2017/06/06/Screen%20Shot%202017-06-06%20at%2010.50.05%20AM.png" alt="">
Peter McDonald, Propertylink's head of property said the building is leased to Telstra until 2020. 
"While there was no requirement to divest the asset at this stage, we have been very pleased to realise a superior outcome for our investment partners," he said.
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Propertylink divests 320 Pitt Street for $275 million 

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A standalone office building in South Melbourne has sold for $5.5 million.
 The freehold building at <a href="https://www.realcommercial.com.au/property-offices-vic-south+melbourne-502307034" target="_blank">9-11 Palmerston Crescent</a> was sold with vacant possession having last traded for $1.1 million in 2008.
Its land area is 476 sqm with a floor area of 711 sqm.
The two-level fitted office building has potential for further development subject to council approval.
The zoning is Commercial 1. 
It is close to the new Domain train station. 
The selling agents were Michael Ryan, James Gregson and Joseph Walton of Allard Shelton.
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Office building in South Melbourne with development potential changes hands for $5.5 million

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An investor has paid $820,000 for a Hawthorn, Melbourne office suite through Teska Carson’s Tom Maule. 
The property, 12-14 Cato Street, features a 193 square metre office suite with an open plan layout, meeting room, and board room, and six under cover car spaces. It was sold subject to a monthly lease at $4315 a square metre.
Tom Maule said strata office suites in the most desirable inner suburbs were very popular with small investors, including SMSFs, and owner-occupiers.
"These type of properties are very popular with a host of buyers looking for a more attractive yield than is available with other investment classes at the moment, particularly with borrowing rates so low," he said.
"The property attracted quite a good level of interest due to the very high standard of accommodation in what has historically been a very desirable address for both commercial and residential users."
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Investor snaps up Hawthorn office suite

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Two stylish office suites in Sydney’s inner city suburb of Surry Hills recently exchanged hands, one fetching more than $1.5 million and the other going for nearly $700,000.
<a href="https://www.realcommercial.com.au/property-offices-nsw-surry+hills-501949502" target="_blank">Suite 517, 50 Holt Street</a> has a floor area of 142 sqm and fetched $1,565,300. The other, <a href="https://www.realcommercial.com.au/property-offices-nsw-surry+hills-501949514" target="_blank">Suite 512</a>, sold for $660,000. It spans 55 sqm.
Both were sold with vacant possession and are part of 19 suites in the building.
50 Holt Street is the epicentre of the Surry Hills business district with a community of more than 70 businesses, including Cue HQ, ASOS and Guzman &amp; Gomez.
The place is a stone’s throw from Central Station and Prince Alfred Park pool and home to restaurants Porteno, Muum Maam, Di Bella and 121 BC all on the ground floor.
The selling agents are David Brown and Nelson Ferreira of DB Property.
According to the ad listing, there is “a queue of tenants waiting to lease space”, so the suites are expected to be good investment. 
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Stylish office suites in Sydney's Surry Hills snapped up by investors

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The Edgecliff office block - tenanted in part by Prime Minister Malcolm Turnbull as his electorate office - has been sold.
It fetched $15.67 million having been bought from Telstra for $3.865 million in 2001. 
The 287-289 New South Head Road building was formerly the Edgecliff Post Office, a landmark building at the busy corner.
It was offered by the Scarf family as a rare opportunity to own a freestanding, mixed use property.
It is a freestanding, four storey, mixed use property, offered fully leased with a NLA 1,405 sqm.
Its net income was $955,144.74 pa.
There was secure car parking for 15 cars plus a large outdoor deck area with harbour views.
The initial marketing by Ray White Double Bay suggested there was future potential for residential conversion.
It was bought by the Spyrides family from Vaucluse. 
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Malcolm Turnbull gets new office landlord in Edgecliff

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ASX-listed Centuria Property Funds Limited (Centuria) and global investment firm BlackRock have agreed to jointly acquire an institutional grade office asset in Sydney's Chatswood for $279.1 million.
 
Centuria, which has $1.9 billion in funds under management, said contracts have been exchanged on the Zenith, the 821 Pacific Highway property in Sydney's Chatswood.
 
The purchase remains subject to FIRB approval, with settlement expected to occur in late July.
 
A new Centuria unlisted property fund, the Centuria Zenith Fund, will co-invest with BlackRock to acquire the property.
 
“Sydney’s North Shore office market is already performing strongly, and we expect that it will continue to experience falling vacancies and strong rental growth over the next few years," said chief executive of Unlisted Property Funds, Jason Huljich, adding he was confident the fund would provide attractive returns to investors due to the strong fundamentals of the location and the property itself.
 
The withdrawal of commercial office space in the CBD and North Shore due to residential conversion and the construction of the Metro will drive above trend rental growth and mean excellent total returns for our investor clients."
 
The Zenith has a diversified tenant mix with about 40 percent of its rental income underpinned by government tenants. It is currently 94 percent occupied and has around 44,000 sqm of net lettable area.
 
“In the current low interest rate environment, there’s no question that investors are becoming increasingly yield-driven. Distribution yields from the Zenith Fund are forecast to be 7.6 percent in the 2017 financial year, growing to 7.7 percent in the 2018 financial year. These are very attractive rates for such a high quality asset,” Huljich said.
 
 
 
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Centuria, BlackRock to acquire office property in Sydney's Chatswood

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Charter Hall Group is in exclusive due diligence to acquire the 100 per cent leasehold interest in Macquarie Group's headquarters on Sydney's King Street Wharf precinct for more than $500 million from Brookfield Office Properties. 
The sale of 1 Shelley Street could be one of the most closely watched commercial sales this year and is expected to set new benchmark yields for core property in the CBD. The office tower, next to the Barangaroo development, could sell on a yield of close to 5 per cent, according to a report in the Australian Financial Review.
Charter Hall is likely to tip the 11-storey building into its $2.6 billion wholesale Core Plus Office Fund. CPOF was the top performing unlisted office fund in 2015 with a 20 per cent return and earlier this week bought 130 Lonsdale Street in Melbourne, the AFR said.
The deal, if it goes through, will be the second major office property in Sydney's CBD to sell to a local institutional player this month after the Investa Commercial Property Fund paid $443 million for a majority stake in 420 George Street earlier this month.
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<div>One of the key reasons for Sydney's appeal is the strengthening office market. In the Sydney CBD, the vacancy rate in the March quarter dropped to just 6.8 per cent - the first shift under 8 per cent since the financial crisis, according to global real estate group, JLL </div>
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A Charter Hall spokesman declined to comment when contacted but it is understood to be in the early stages of due diligence. CBRE and Savills, who marketed the property, did not comment. 
Charter Hall beat the competition, including UOL out of Singapore and AMP's wholesale office fund, for the deal.
The Macquarie headquarters is one of two Sydney assets Brookfield put on the market to fund its development pipeline. The other is a half stake in KPMG Tower at 10 Shelley Street but it is understood no party is in due diligence yet, the AFR said.
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