Perth’s new apartment market recorded its strongest quarter of sales since Q4 2021, with 412 apartments sold in Q1 2026 and a record quarterly sold value of $537 million, according to Urbis’ latest Apartment Essentials results.

Urbis said the March quarter result reflects strong, highly product‑specific demand across both ends of the market, from more attainable projects delivering at scale, through to premium stock being absorbed by equity‑rich downsizers.&nbsp;

David Cresp, Partner at Urbis, said the key story in Perth is not demand, it is the market’s ability to convert demand into delivered housing.&nbsp;

“This is the strongest sales quarter since Q4 2021, and it reinforces that demand in Perth is real and it’s local,” David Cresp said. “But the task now is delivery, turning that demand into projects that can actually be built and completed.”&nbsp;

[smartcode_project:default project_id=110291 project_image_fid=302785]

<h2>Affordable product leads, premium demand remains resilient</h2>

Sales in Q1 were led by more affordable projects, with The Boulevard (SKS Group) recording 115 sales in the quarter, the presentation noting this is only the second time a single project has surpassed 100 quarterly sales. The project was able to offer more affordable housing product right next to a train station.&nbsp;

Palmyra West (Finbar) also delivered strong results with 28 sales in Q1, following 84 sales in Q4, with an average price of under $800,000, underscoring depth of demand for well‑located, attainable new stock.&nbsp;

At the premium end, Urbis said downsizer demand is continuing, with the results highlighting Romeo (Applecross, Finbar) recording 75 sales and reaching almost 50% sold in one quarter.

Jual (Shenton Park, Celsius Property) also posted a strong quarter with 28 sales, reaching 39% sold in one quarter.

Urbis noted that Perth apartment demand is not speculative, not investor‑led, and not uniform, describing it as localised, often equity‑driven and highly product‑specific, a pattern reflected in the polarisation between strong “attainable” performers and premium downsizer product.&nbsp;

[smartcode_project:default project_id=148957 project_image_fid=364102]

<h2>Prices underpinned by costs, and the delivery risk is growing</h2>

Urbis said pricing pressure is cost not demand‑driven: construction costs and delivery risk are now a central constraint, with the results noting build costs remain elevated and volatile, and that energy, fuel and labour uncertainty weigh on feasibility.

David Cresp said a growing challenge for private Build‑to‑Sell developers is simply securing a builder in the current environment.

“Developers are really feeling the pressure from a building market that was operating at capacity and securing a builder is challenging,” David Cresp said, adding that even where a builder can be secured, “trying to get to the price that makes the development financially viable is incredibly challenging in the current market.”&nbsp;

Urbis’ broader WA commentary also notes that industry remains at or above capacity with lot and housing creation, and that many builders are limiting new sales to manage stretched workforces and fixed‑price contract pressures, conditions that flow directly into apartment feasibility and delivery timing.

[smartcode_project:default project_id=108869 project_image_fid=317905]

<h2>Supply: improving later, but still constrained, and Perth lags eastern benchmarks</h2>

While near‑term supply remains constrained, Urbis’ forecast shows completions lifting “Supply is forecast to be back above 1,500 apartments per annum for the first time since 2019”, with 1,775 completions forecast for 2026, and volumes remaining above that level over the following years.&nbsp;

Looking further ahead, completions are forecast to reach 2,500 in 2028, with the report noting 32% of that total is social/affordable, reflecting the role of government‑supported delivery in rebuilding the pipeline.&nbsp;

However, Urbis said Perth remains behind comparable markets on pipeline scale. In a national comparison of projects under construction, the report shows under construction Perth Build‑to‑Sell (BTS) at 3,446 apartments versus the Gold Coast at 7,922. Mr Cresp said “The challenge for Perth is how to we grow the delivery pipeline”.

Urbis’ conclusion is that Perth’s market is increasingly defined by product discipline and delivery certainty, with the research identifying “delivery certainty is key” and calling out builder risk and procurement models as core success factors, alongside “timing and staging”.&nbsp;

Joel Robinson

Perth apartment sales hit strongest pace since late 2021 as builder capacity tightens

<a href="https://www.apartments.com.au/developers/sammut-developments">Sammut Group</a> has secured development approval for its latest Brisbane apartment project, marking the Sydney developer’s next step in expanding its Queensland pipeline following the success of its debut Gold Coast development, Coast.

The approved project at <a href="https://www.apartments.com.au/new-apartments/44-glen-road-toowong-qld-4066">44 Glen Road, </a><a href="https://www.apartments.com.au/developments/toowong-qld-4066">Toowong</a> will deliver a 15-storey riverfront apartment building with 42 residences, significantly increasing the scale of the site’s previous approval for a smaller luxury scheme. Designed by Bureau^proberts, the development will comprise a mix of predominantly four-bedroom and two-bedroom apartments positioned to maximise Brisbane River and city views.

Sammut Director Julian Sammut said the group had been actively searching Brisbane for several years before identifying Toowong as the right fit.

“Brisbane was the right step for Sammut,” Sammut said.

“With the success of Coast we thought we should definitely look to do more in Queensland alone. We then pushed up to look at Brisbane. We've been looking for I'd say two to three years actually and it was hard to find the right location.”

<img alt="Sammut makes Brisbane apartment play" data-entity-type="" data-entity-uuid="" src="https://res.cloudinary.com/dz9xllyip/image/fetch/f_auto,c_limit,w_1440,q_75/https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/field/image/Screenshot%202025-12-23%20at%203.27.14%E2%80%AFPM.png?VersionId=dYAVIL7qdcGA8ojvkslSrLjczXFejSSx" />

Sammut said suburbs including New Farm and Teneriffe were considered before the group ultimately focused on Toowong due to its strong downsizer demographic and limited supply of developable riverfront land.

The site was acquired off-market after what Sammut described as a lengthy negotiation and planning process, with the developer pursuing an uplift to the original approval.

“We are DA approved now which is very exciting,” Sammut said.

“We've had our change approval come through and we've obviously doubled the height, 15 storeys plus rooftop. We've got 42 amazing apartments that are going to be coming to market soon.”

<img alt="Sammut makes Brisbane apartment play" data-entity-type="" data-entity-uuid="" src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,dpr_2.0,q_auto:good/https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202025-12-23%20at%203.27.26%E2%80%AFPM.png?VersionId=ohkRkY0dIZlqdfME2EZePsCQavRiBadE" />

Bureau^proberts said the design responds to Toowong’s evolving urban character, balancing contemporary apartment living with the area’s established residential identity.

“A place where traditional Queensland living has taken place for centuries; Toowong is seeing a shift of contemporary influence, commercial and retail hubs mixed with well-considered residential offerings – all the while maintaining its character and charm,” the architect noted in planning documents submitted to Brisbane City Council.

The architecture practice said the project’s form was shaped by its riverfront setting, flood considerations, neighbouring building scales, and view corridors.

“They said the mix of four and two-bedroom apartments capture the ‘fundamental qualities of Queenslander living,’ translated into the context of a contemporary subtropical building.”

The development sits just off Coronation Drive within walking distance of Toowong’s retail precinct and the upgraded Regatta ferry terminal, while also benefiting from proximity to the incoming green bridge connection to West End. Sammut said the accessibility and amenity offering were central to the site’s appeal.

The approval adds to growing residential activity along the Toowong riverfront, joining nearby projects including Consolidated Properties’ Monarch Residences and Spyre Group’s ARC Residences.

Sammut secures approval for debut Brisbane apartment development in Toowong

Developer Lanevick is heading back into Sydney’s apartment market after focusing more heavily on the luxury townhouse and terrace sector in recent years.

Lanevick, founded and directed by Steve Maroun, is expecting to receive approval in the coming months for a new apartment development in Gladesville, with the aim to launch it to the market later this year.

The 51-apartment project, designed by Studio Johnston, will comprise a mix of one-, two-, and three-bedroom apartments positioned toward the Hunters Hill downsizer market.

“Traditionally it’s been difficult for people in that market to downsize because there just hasn’t been the right product available,” Maroun said.

“We’re targeting buyers who might have 30 to 40 per cent of their house value sitting in the bank after downsizing.

“They still want good spacious entertaining areas, they still want quality design, but they also want flexibility and the ability to enjoy life a bit more after working hard for a long time.”

The project sits near Boronia Park and within close proximity to the Parramatta River foreshore, an area Maroun says offers more of a Hunters Hill lifestyle than a traditional apartment precinct.

“From a lifestyle perspective, it’s really more Hunters Hill than Gladesville,” Maroun said. “You’re close to the foreshore, close to parklands, and still connected back into the village precinct.”

From level four and above, apartments will capture water views&nbsp;toward Sydney Harbour. Communal amenity will include rooftop entertaining areas, wellness spaces, and a gym tailored toward owner-occupier buyers.

“We’ve really designed these apartments around that buyer coming from the Hunters Hill LGA and what they’re actually looking for in their next chapter.”

The proposed development has also been designed to respond to the changing character of the broader Gladesville town centre, where a growing number of mixed-use and residential proposals are expected to emerge over the coming years.

“Gladesville presented a rare opportunity to deliver a genuinely design-led residential project within an evolving lifestyle precinct, just moments from the growing Gladesville town centre, and we’ve approached the project with a strong focus on architecture, liveability and long-term community value,” Maroun said.

Maroun said Lanevick saw a first-mover advantage within the precinct as planning controls continue to evolve to accommodate greater housing density.

“We think there’s a real opportunity there that hasn’t really been serviced properly yet,” he said.

“There’s going to be a broader evolution of the whole Gladesville village precinct over time, particularly with more activation and mixed-use outcomes.”

The Venus Street proposal will include a commercial and retail component at ground level designed to contribute to that evolving streetscape activation.

“A big part of the thinking was how do you activate that area properly and create more vibrancy and amenity, which is what Hunters Hill has been looking for,” Maroun said.

Lanevick’s focus since 2020 has largely been on smaller-scale luxury townhouse and terrace developments. The developer recently completed Royale Randwick, also designed by Studio Johnston, where prices reached $3.65 million. The project was featured in the UDIA NSW 2026 Professional Development Prospectus and was also named a finalist for Development of the Year.

&nbsp;

Lanevick to cater for Hunters Hill downsizers with new Gladesville apartment development

Property developer One Living, backed by former Macquarie banker turned investment manager Chris Green’s investment firm, has unveiled plans to bring more institutional capital into housing to help address the national supply crisis.

The New York-based investor has focused his firm, GreenPoint Partners, on addressing the supply shortage hitting middle market housing in Australia.

It is backing the new One Living business to develop more than 1000 units along the eastern seaboard. The new firm is starting with a development on Mona Vale Road, on the border of Mona Vale and Pymble, in Sydney’s Northern Beaches, with around 140 apartments planned. They are eyeing off more sites across the city.

With cost pressures rising in the industry, One Living’s model is to be a vertically integrated developer-builder, so it can respond directly to the housing gap by removing the cost inefficiencies embedded in traditional residential delivery.

“We are building a platform designed to operate at scale and starting in a market where there’s a clear need for quality, attainable housing,” One Living joint managing director Joseph Scuderi said.

“It’s that missing middle – it’s that attainable end of housing… that’s what most Australians invest into and what Australians can actually afford.”

<img alt="Mona Vale" data-entity-type="file" data-entity-uuid="798dfa93-4941-4db6-a696-31e9dc18e81c" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-05-28%20at%202.31.50%E2%80%AFPM.png?VersionId=mKBqi5C_DmeiXS.AtJkcR8LQIxqCqmFi" />

GreenPoint Partners brings years of experience assembling and scaling real estate operating businesses across major markets. And Green sees a big opportunity in Australia.

“For its size, sophistication and importance to the community, Australia’s living sector has remained largely under-institutionalised, which represents significant opportunity,” Green said. “GreenPoint identified that gap, assembled the right team, and is backing One Living to build a platform that is aligned to market needs.”

Green said being a builder-developer would give the company the capacity and flexibility it required to deliver reasonably-priced homes.

“We want it to be at that attainable level; not super high end luxury but at that attainable level,” he said.

<img alt="Mona Vale" data-entity-type="file" data-entity-uuid="74a5344a-4b26-4d4a-ada3-056b1220be77" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-05-28%20at%202.32.15%E2%80%AFPM.png?VersionId=vY8hXHO4reBMdO8ZXMWCNtGZJofUPQ3j" />

&nbsp;

One Living will undertake a component of affordable housing in its schemes, which it will own and operate, and it could also run build-to-rent on some sites.

Green praised local policy settings.

“The NSW government is being very supportive, strategic and pragmatic in terms of how do we generate more supply of housing,” he said. “We think it’s actually positive for development and the bit that’s been lacking at that attainable level is that it’s lots of relatively small private developers, whereas we want to create an institutional platform.”

One Living is also&nbsp;looking at high-density projects and could take on more institutional funding in the future.

“The way we will be able to achieve economies of scale is through size,” Green added.

One Living enters Sydney's new apartment market with Northern Beaches site acquisition

It's been several years since there's been an opportunity to buy a brand new townhome in Melbourne's coastal suburb of Mordialloc. Even apartment developments in recent times have been few and far between in the area.

Local developer LDS Property identified the gap in new housing, securing a site on White Street, directly opposite&nbsp;Woodlands Golf Club Mordialloc. They've recently launched&nbsp;<a href="https://www.apartments.com.au/new-townhouses/wm-residences-mordialloc-102-white-street-mordialloc-vic-3195">WM Residences</a>, just 13 townhouses which they have already started building.

Projects by Buxton Director Heath Thompson, who is selling WM Residences, says the townhouses x that perfect middle ground be

"Mordialloc residents have had limited options to downsize within the suburb, often forcing them to look elsewhere despite long-standing ties to the area," Thompson says.

"With very little comparable new supply coming to market, projects like WM Residences are well placed, particularly as buyers look to capitalise on current conditions amid constrained supply."

[smartcode_project:default project_id=134646 project_image_fid=6109]

The development, designed by regarded architecture firm&nbsp;<a href="https://www.apartments.com.au/architects/ewert-leaf">Ewert Leaf</a>,&nbsp;adopts a deliberately restrained architectural approach, focusing on simplicity, durability and liveability rather than overt design gestures.

The boutique scale is central to the offering. With only 13 three-bedroom residences, each home is configured to prioritise functional layouts and everyday use, supported by private terraces and secure two-car garages.

Ewert Leaf’s design response leans into a calm, neutral material palette. Interiors are defined by oak flooring, white walls and soft finishes, creating a consistent and understated backdrop. The approach avoids trend-driven detailing in favour of longevity, with an emphasis on natural light and spatial clarity.

[smartcode_project:default project_id=134646 project_image_fid=6110]

Beyond aesthetics, the homes are designed to meet contemporary performance expectations. Each residence targets a minimum 6-star energy rating, incorporating double glazing, comprehensive insulation and all-electric Bosch appliances.

The project’s location supports a walkable coastal lifestyle, sitting within close proximity to Mordialloc’s foreshore, Main Street retail strip and the train station. Local cafés and dining venues, including Suburbia Deli and Hendriks Café, are within a short walk, reinforcing the area’s established neighbourhood character.

[smartcode_project:default project_id=134646 project_image_fid=6116]

While <a href="https://www.apartments.com.au/developments/mordialloc-vic-3195">Mordialloc</a> is often defined by its beach and pier, the project taps into other areas of day to day living, offering easy access to local food, casual dining and transport, rather than positioning itself purely as a lifestyle retreat.

WM Residences reflects a continued trend across Melbourne’s coastal suburbs towards smaller-scale, design-led townhouse developments, particularly on infill sites where proximity to amenity is already established.

With construction commenced prior to its market entry, the project aligns with a growing preference among buyers for developments with visible progress and defined delivery timeframes.

[smartcode_project_cta:default project_id=134646]

WM Residences fills gap in Mordialloc townhouse market

Office Space

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Melbourne fund manager Peak Equities has purchased an A-grade office building in Melbourne's Camberwell Junction for $27.5 million.
It takes the value of its property portfolio to more than $177 million.
The five-level commercial building at 250 Camberwell Road boasts 5,420 square metres of lettable space.
it is leased to ASX top 200 company Australian Pharmaceutical Industries (API) until March 2023, with three five-year options. 
API is a wholesale supplier and owns 400 Priceline Pharmacy stores across Australia, along with the rights to Soul Pattinson Chemists and the Pharmacist Advice brand.
The building also features a ground floor cafe, Pour &amp; Sip, managed by Camberwell Food Group on a 10 year lease until February 2026.
It is anticipated the fully refurbished Camberwell Road office building will deliver a first year return of 8.54% for Peak Equities investors, increasing to 11.14% as the investment matures.
The property was sold by Bricktop, a Sydney based investment firm and negotiation by Peter Bremner of Colliers International.
Peak Equities, established in 2014, has properties in Melbourne, South Australia and Queensland worth a combined $74.5 million, with eight syndicates now under management.
The company is headed by chartered accountant Tom Borsky, who was also the founding treasurer and a Life Member of Property Funds Association of Australia - the representative body of the multi-billion dollar Unlisted Property Trust industry.
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Assets acquired by Peak Equities in the past 12 months include a $17.55 million commercial complex at Noarlunga in South Australia.
They paid $22 million for The Precinct retail centre in Townsville and the $7.65 million for 69 Laver Drive office building in Robina on the Gold Coast. 
The company also acquired a one-third stake in a residential development at 102 Balaclava Road in Caulfield, Melbourne.
Over the past year, Peak Equities sold a 30,000 square metre industrial asset at 57 Northgate Drive at Thomastown in Melbourne and an office building at 183 Varsity Parade in Varsity Lakes on the Gold Coast, and saw the completion of a residential apartment project, in which it owned a 20% stake, in Heidelberg in Melbourne.
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j.ballantyne1990-6AQqhLzZaK

Peak Equities make $27.5 million acquisition in Camberwell

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An office suite in Sydney’s Walsh Bay has been put up for sale with a price tag of $2.4 million. 
The recent announcement that the Sydney Dance Company is set for an overhaul will reinvigorate the Walsh Bay Arts Precinct.
Suite 1 at <a href="https://jagonal.com.au/office/building/NSW/Sydney/Sydney-CBD/The-Rocks/13-Hickson-Road#gallery" target="_blank">13 Hickson Road</a> has an area of 148 sqm with parking and storage.
The Stephenson Mansell Group have a strong lease over the property with a long-term lease signed at market rents which have grown considerable as the undersupply of quality commercial accommodation in the CBD continues to diminish.
The suite is expected to attract strong interest as the NSW government focuses to rejuvenate the former working ports into a world class cultural precinct. 
<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/2017/10/09/WalshBay2.jpg" alt="">
The marketing agents are Matt Pontey and Tom O’Neill of Colliers International.
“This is an amazing opportunity to invest in what is shaping up to be the new cultural hub of Sydney,” said Matt Pontey of Colliers.
“The government is investing heavily in Walsh Bay to transform the area into a thriving arts precinct and community and prices will only increase in the area over the next few years as this plan comes to fruition.”
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jonathanchancellor-7SQnKwU6yx

Walsh Bay office suite listed with $2.4 million hopes

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A strata office on the Sydney Harbour foreshore leased to the Commonwealth Bank of Australia is up for sale with price expectations of more than $3 million. 
The <a href="https://www.commercialpropertyguide.com.au/property/249629/sale/13-hickson-road/walsh-bay-nsw-2000/offices/" target="_blank">13 Hickson Road, Walsh Bay</a> property is close to the Barangaroo business district.
The office suite has natural finishes, exposed timber beams and a modern fit-out.
The newly executed lease is for five years with two further five-year options. The office earns $174,928 plus GST p.a. with the outgoings paid by the tenant.
<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/2017/07/26/WalshBay1.jpg" alt="">
The lease has provisions for annual increases that is the greater of CPI rate or 4%.
The office floor area is 232 sqm.
The listing agent is Nick Moloney of Raine and Horne Commercial.
 
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Office suite leased to CBA on sale in Sydney Harbour foreshore   

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A leading education provider has bought a Melbourne CBD office floor for $2.01 million, aiming to cash in on the strong inflow of international students which is driving up demand in the Victorian capital, according to Colliers International. 
Expert Education and Visa Services has bought level three at <a href="https://www.realcommercial.com.au/property-offices-vic-melbourne-502399446" target="_blank">313 Flinders Lane</a> following an international expressions-of-interest campaign.
The deal follows the sale of lot 601 at 224 La Trobe Street to Asia Pacific Education Consultants for $1,956,150, and level nine at 221 Queen Street to Australian Pacific College for $3 million, Colliers said in a media release.
<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/2017/07/10/MelbOffice.jpg" alt="">
The property agency’s strata office experts Chris Ling and Anthony Kirwan, who brokered the deals, said education and migration groups are eager to capitalise on the influx of international students from Asia and India.
The latest Department of Education and Training statistics show 480,092 international students were recorded in Australia as of March 2017, a 15 per cent rise from March last year.
“Thirty per cent of these students are from China (144,028) and 11 per cent are from India (52,810),” he said.
Melbourne has been a popular destination for students, fuelling demand for education and migration office space, as well as accommodation, added Ling.
“The appetite for these lucrative sectors is growing in line with students’ recognition of Australia as a welcoming country with an impressive choice of education institutions, including The University of Melbourne and RMIT University.”
“Political changes across the US and the UK, including Trump’s election and Brexit, have been a strong deterrent due to racism and immigration restrictions. With the bonus of a low Australian dollar, this demand from international students is likely to continue.”
Ling, Kirwan and Oliver Hay have also just sold levels four and five at 100 Collins Street via expressions of interest.
In fact, there is strong competition for leasing space as well. Leased space to the education sector in Melbourne's CBD in 2016 rose 200 percent on the previous year with increases in land taxes hitting stock levels, putting upward pressure on rents, according to real estate firm Savills.
 
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Education provider snaps up Melbourne CBD office for $2 million

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Sydney’s fringe suburb of Chippendale is experiencing a property boom of sorts, given the significant stock withdrawal from office to luxury residential.
But there is also the competing trend of office tenants wanting to stay close to the city.
The city fringe market is tightly held given its proximity to the CBD, the light rail and amenities. 
The recent conversion of Griffith Teas is a case in point where new residential gross realisation benchmarks have been realised that are usually reserved for Sydney Harbour waterfront property, according to Savills.
Tenants are expected to be faced with an ongoing squeeze on available office space as demand remains strong and new supply muted.
Savills have a refurbished, leased office property at 39-47 Regent Street, Chippendale to be sold by expressions of interest closing May 25. 
It is fully leased by Navitas Limited, an ASX 100 listed company. The lease is for 15 years with a further option to extend by 10 years. 
The annual net rental is circa $1.823 million. 
The zoning is B4 Mixed Use, which the agents say allows a purchaser the option for residential conversion beyond the existing lease tenure.
These strong fundamentals are expected to drive rents significantly higher over coming years, say the agents. 
The property is being marketed by Savills agents Simon Fenn, Graeme Russell and Tim Grossman along with CBRE on behalf of Property Bank Australia.
Simon Fenn of Savills NSW said strong interest is expected from local, interstate and off shore buyers given the compelling fundamentals of the city fringe market and the unique nature of the asset.
“There appears to be no significant supply in the pipeline for the City Fringe, with just 5,500 sqm currently under construction in Chippendale (expected in H2 2018). Future supply in the City Fringe remains severely constrained due to limited available sites and significant stock withdrawals for residential use,” he said.
With the building flanked on all sides by action from Sydney University, Broadway Shopping Centre, UTS and Central Station combined with significant planning changes in the wings, the precinct is set for exciting growth and change.  
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Navitas office property in Sydney's Chippendale listed

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Proptech startup PEXA has merged three offices and over 200 staff into a new workplace in Collins Square, Melbourne, designed by Futurespace.
Futurespace, design director Gavin Harris said the workspace is built around a central café zone which acts as the thoroughfare for both sides of the office.
“PEXA wanted to move into a space that would encourage staff to socialise and to create positive energy.," he said.
“To help support the employees, we brought in sit-stand desks, designed collaboration or scrum spaces, and created an office that facilitates people working away from their desks.
“We also implemented a range of design tactics in the office to support employees.
"These included bringing in natural materials like climbing green walls, creating exposed ceilings, lining the walls with timber, introducing texture and colour through flooring and soft furnishings."
<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/2017/04/11/image003.jpg" alt="">
Rebecca Evans, chief people and culture officer, PEXA, said so far the feedback from employees has been overwhelmingly positive.
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“Being in such a central location, with the entire Melbourne-based team under one roof is helping to create a stronger team for our growing business,” she said.
PEXA was ranked as the fifth fastest growing tech startup in the Deloitte 2016 Technology Fast 500.
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Growing startup PEXA merges three offices and 200 staff into new workplace

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AstraZeneca Australia, an arm of global biopharmaceutical company AstraZeneca, has ‘zoned in’ its employees, literally, at its new Macquarie Park offices.
The firm’s adoption of agile-based working is founded on specialised work ‘zones’, four at the moment, with each catering to different styles of working and collaborating with other people.
The concept was by design firm Futurespace, whose managing director Angela Ferguson said, “We designed the four zones to liberate workers from the desk bound experience.”
The new 3,000 sqm office gives AstraZeneca Australia’s 200 office-based employees the option to work in four ‘zones’:
The Unplugged Zone – this area is characterised by highly interactive management activities.
The Connected Zone – this is a stimulating environment, where employees engage with colleagues and visitors and includes formal meeting spaces, conference rooms with video conferencing and audio-visual systems, as well as collaborative spaces.
The Base Zone – is at the heart of the office and includes open plan work areas, private work areas, project areas and informal meeting areas.
It acts as the primary space for individuals and teams to carry out their core activities throughout the working day.
The Virtual Zone – this zone isn’t a physical zone, but is the integrated technology overlaid in and out of the workplace for employees. It is designed to allow employees greater mobility, both in and out of the office.
<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/2017/03/20/image003.jpg" alt="">
“Sitting at the same desk all day does not promote productivity, health and wellbeing, or collaboration,” said Ferguson.
“However, it is just as troublesome to have employees work wherever they want without having the correct design infrastructure in place. That is why the ‘zones’ are effective.”
She said that “each zone was designed to facilitate different styles of working, whether it’s informal chats over coffee, structured team meetings or focused individual work”. 
Another standout feature being rolled out includes wi-fi technology that will allow staff with no assigned seating to locate each other within the large building at any time, enhancing collaboration.
The planning also involved features such as use of timber to create warmth, plenty of natural lighting, indoor greenery, and a multi-purpose open area where employees can have lunch and meetings.
<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/2017/03/20/image005.jpg" alt="">
The ‘zones’ are consistent with AstraZeneca’s global workplace strategy, called “iwork”, which outlines a more agile way of working.
“iWORK, agile- based working environments, is the future of AstraZeneca’s workplaces,” said Paul Spittle, country president AstraZeneca Australia and New Zealand.
“The amount of impromptu conversations in passing I now have with people from all across the business, how I can walk past an open meeting space and stumble across a cool piece of work one of the teams is doing, which I otherwise would never have seen. It’s changed the dynamic of the business totally.”
The ‘energy’ of the new office will also help the company attract and retain talent, concludes Kimberly Elliott, director of People, Capabilities and Sales Operations. 
 
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AstraZeneca Australia's new, agile office uses ‘zones’ to keep staff engaged 

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South Melbourne is experiencing a tightening in the office leasing space owing to strong tenant demand for office space, says real estate firm Cushman &amp; Wakefield.
The trend is similar to that of Southbank, which in 2016 saw vacancies drop to 4.1 percent, the lowest levels since 2011 (PCA Office Market Report, Feb. 2017).
During a number of recent leasing transactions completed in the South Melbourne area, Cushman &amp; Wakefield’s Melbourne office leasing team has witnessed unprecedented demand amongst tenants for limited space, particularly in and around the South Melbourne Market Precinct. 
Cushman &amp; Wakefield has recently completed a number of leasing transactions including: 
Level 1, 280-286 Coventry Street – 725 sqm leased to sales performance firm, Maverick Rose. The leasing campaign was managed by Grant Tinker and Edward Maas.
5 Union Street South Melbourne – 260 sqm at $351 per sqm leased to independent advertising agency, Zoo Group. The leasing agent was Tristan Parker.
Suites 1.14 and 3.07, 87 Gladstone Street – 52 sqm and 53 sqm spaces leased to anti-bullying and education group, Project Rockit and Architects, de.arch, respectively. Both were leased at approx. $500 per sqm also managed by Tristan Parker.
Cushman &amp; Wakefield’s Edward Maas said the market was very tightly held, with existing tenants were rolling on lease options, essentially locking out potential tenants.
“We have seen Southbank experience a sharp increase in vacancies over the past 12 months, falling to 4.1% at end of 2016 from 9.3% at the end of 2015. This has been compounded by the strongest net absorption in five years over 2016, and ongoing stock reduction, which is impacting leasing opportunities in the broader South Melbourne area.”
Matt Rose, partner at ZOO Group — one of the new tenants in South Melbourne — said South Melbourne has established itself as a strong hub for businesses in the creative industries, but conventional spaces in the area are largely locked up.
“As a rapidly emerging creative agency, we were seeking access to the same ecosystem and amenities as creative hubs like Richmond or Cremorne and South Melbourne continues to offer a fantastic location for staff and clients. With little on offer in the area, we moved very quickly on an old furniture store and re-designed the space to accommodate the flexibility a business like ours needs.”
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South Melbourne vacancies decrease sharply as tenants vie for space 

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A laneway office with a caretaker residence tucked away in one of South Melbourne's historic cobblestone lanes recently sold for $1,380,000.
The architect-designed office spaces spread over four levels at <a href="https://www.realcommercial.com.au/property-retail-vic-south+melbourne-502116922" target="_blank">7 Emerald Way, South Melbourne, Vic 3205</a> offer a fully air conditioned and flexible floor plan.
The property with a floor area of 250 sqm comprises a first floor open office and two studio/offices plus full bathroom. The second floor has an office and living area with a kitchen opening to a sunlit terrace. The top floor has a master bedroom with ensuite and a private terrace with CBD views.
The property is close to Clarendon Street, The Arts complex, Southbank and the city.
The selling agent was James Keep of Cayzer Real Estate.
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Elegant office property near Melbourne's Southbank sold

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The amount of office space leased across major Australian markets increased 21 percent year to date till September, helped by strong demand from small businesses — mainly the IT sector, according to real estate firm Colliers International.
According to Colliers International’s latest Office Demand Index, 448,163 sqm of office space was leased nationally as of September YTD 2016. 
A huge majority, 85 percent, of these leasing deals involved businesses looking for less than 1,000 sqm of office space. 
“Year to date, the Sydney and Melbourne markets have seen heightened activity for small businesses,” said Simon Hunt, managing director of office leasing, Colliers International. 
“A growing number of small businesses are looking to establish their headquarters in Australia’s two major markets, with the IT industry leading the way.”
A significant proportion of leasing deals concluded to date in 2016 involved businesses within the IT sector, with this group accounting for the third greatest amount of area transacted, following the always-prevalent state government and legal sectors. 
Colliers International’s Office Demand Index recorded 465,162 sqm of demand in Q3 2016, a 13 percent decrease compared to Q3 2015 with 79 percent of the total demand under 1,000 sqm. 
The number of enquiries recorded year to date, however, rose by 8 eprcent on the previous year, with the amount of space enquired for increasing by 3 percent. 
Sydney recorded 210,407 sqm of demand, up 22 percent on Q3 2015, while Brisbane recorded 31,380 sqm of demand – a 31 percent increase from Q3 2016 to Q3 2015. In Canberra, demand rose 27 percent year on year to 14,260 sqm.
Melbourne saw a 38 percent decrease in enquiry, from 239,594 sqm in Q3 2015 to 149,320 sqm in Q3 2016. 
“Even though Melbourne recorded a drop in demand for Q3 2016, the amount recorded still  surpassed that seen in Q1 2016 and Q4 2015,” Hunt said. 
In Adelaide, enquiry fell 33 percent from 50,704 sqm in Q3 2015 to Q3 2016 and Perth saw a decrease of 53% from 35,595 sqm of enquiry in Q3 2015 to 16,663 sqm in Q3 2016.
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