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

<html><body>
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. 
 
 
</body></html>

jonathanchancellor-7SQnKwU6yx

800 Collins Street listed for sale

<html><body>
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. 
 
</body></html>

Sydney CBD office building listed with $220 million hopes 

<html><body>
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.
</body></html>

prateek24-ezbwHMbNAk

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

<html><body>
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.
</body></html>

Propertylink divests 320 Pitt Street for $275 million 

<html><body>
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.
</body></html>

Office building in South Melbourne with development potential changes hands for $5.5 million

<html><body>
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."
</body></html>

Investor snaps up Hawthorn office suite

<html><body><div id="listing_address">
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. 
</div></body></html>

Stylish office suites in Sydney's Surry Hills snapped up by investors

<html><body>
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. 
</body></html>

jchancellor-FAypfDUnLy

Malcolm Turnbull gets new office landlord in Edgecliff

<html><body>
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.
 
 
 
</body></html>

Centuria, BlackRock to acquire office property in Sydney's Chatswood

<html><body>
<div>
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.
</div>
<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>
<div>
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.
</div>
</body></html>

Office Sale

Editor's Picks

Have something to contribute?

Developments

New apartments

New townhouses

News

Office Sale

Editor's Picks

Receive the latest news stories to your inbox

Have something to contribute?

Developments

New apartments

New townhouses

News