Queensland builder-developer MAYD has revealed the first look at its major North Kirra beachfront development, lodging amended plans that reduce the number of apartments and increase the proportion of larger residences.

The project is planned across a substantial 4,742 sqm amalgamated site spanning seven lots at <a href="https://www.apartments.com.au/new-apartments/2-6-pacific-parade-bilinga-qld-4225">2-6 Pacific Parade</a> and 27-33 Golden Four Drive in Bilin​ga, directly opposite Nor​th Kirra Beach.

<a href="https://www.apartments.com.au/developers/mayd-group">MAYD</a> secured the site for $32.5 million in 2025, in what was one of the Gold Coast's largest property transactions of the year.

The development will be delivered across two stages, with the first stage carrying an estimated gross realisation value of around $360 million.

The latest amendments seek to reduce the overall apartment count and shift the project further toward the owner-occupier market, with larger residences designed for buyers wanting considerably more space than traditionally offered in a beachfront apartment.

The residential mix will include townhomes, oversized two-bedroom apartments, substantial three-bedroom residences and four-bedroom homes.

MAYD has appointed Cera Stribley to lead the architecture and interiors, with the Melbourne-based design practice drawing on the beachfront setting through a series of ocean-facing terraces and heavily landscaped balconies.

Strong horizontal forms and curved balconies will define the exterior, with subtropical landscaping integrated throughout the building to soften the built form and increase the connection between the residences and the beachfront.

The project will also include an extensive collection of resident wellness and lifestyle facilities, continuing the broader shift across the Gold Coast's luxury apartment market toward larger homes supported by resort-style amenity.

<img alt="MAYD" data-entity-type="file" data-entity-uuid="d1bcbb05-e659-4b47-8bd4-1e595315e2ad" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-27%20at%202.05.03%E2%80%AFPM.png?VersionId=jj0XEud1X1DuLt7_KyElhjMdZGOXmLHP" />

MAYD Founder Todd Mould said North Kirra was increasingly appealing to buyers attracted to the more established, lower-density character of the southern Gold Coast.

"North Kirra presents one of the most compelling luxury residential opportunities currently emerging in Australia, combining absolute beachfront with the character and authenticity that buyers are increasingly seeking, and the same sense of tight-knit community that defined Burleigh and Currumbin perhaps 10 or 15 years ago," Mould said.

"With Gold Coast Airport on its doorstep, it also offers a level of accessibility that broadens its appeal across almost every market demographic."

The project comes as the southern Gold Coast continues to attract an increasing share of high-end apartment development and buyer activity.

Kirra in particular has emerged as one of the region's more tightly held beachfront markets, with its relatively low-density character, established surf and hospitality scene and proximity to Gold Coast Airport differentiating it from the higher-density markets further north.

Mould said those characteristics had informed the approach MAYD and Cera Stribley had taken to the project.

"We've worked closely with Cera Stribley to create a vision that is deeply connected to its surroundings," he said.

"Inspired by the coastline itself, the architecture has been shaped around space, privacy and resort-style living, creating a collection of homes that reflects the next generation of luxury on the southern Gold Coast."

MOTIV Managing Director Carly Cottam, who has been appointed to market the project, said buyer attention had continued to move south along the Gold Coast.

"Purchasers who may once have defaulted to Broadbeach, Main Beach or Surfers Paradise are increasingly recognising the value of a genuine beachfront location that offers lower density, strong amenity and a more established sense of community," Cottam said.

"Kirra has a powerful combination of growing demand and genuine scarcity. Beachfront supply is inherently constrained, the area remains relatively low density, and buyers are increasingly placing a premium on locations that feel established, uncrowded and authentic rather than heavily developed."

Cottam said the proximity to Gold Coast Airport was also proving increasingly important for interstate and second-home buyers.

"Being minutes from Gold Coast Airport makes it particularly compelling for interstate buyers, frequent travellers and second-home purchasers who can access an authentic coastal lifestyle almost immediately after stepping off a flight."

The acquisition takes MAYD's active development portfolio to more than $500 million, with the North Kirra project representing one of its largest undertakings to date.

MAYD is targeting an early 2027 launch.

Joel Robinson

First look at MAYD's North Kirra mixed-use precinct

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Castle Hill, the longtime hub of the Hills District, has been one of the major beneficiaries of Sydney's Metro expansion, with improved connectivity helping drive continued population growth, development and buyer demand across the Hills District.

But despite that growth, the suburb has seen relatively few major new apartment projects brought to market over the past 18 months.

Hills District developer Reve Group is looking to fill that gap with <a href="https://www.apartments.com.au/new-apartments/nova-r-ve-castle-hill-2-garthowen-crescent-castle-hill-nsw-2154">Nova Rêve</a>, a major new mixed-use precinct on the corner of Garthowen Crescent and Old Castle Hill Road, a short walk from Castle Hill Metro Station and Castle Towers.

[smartcode_project:default project_id=152737 project_image_fid=377679]

The project will comprise three residential towers alongside a hotel, restaurants, cafes and a skybar, more than 1,600 sqm of ground-floor retail and almost an acre of landscaped gardens.

It represents the largest project undertaken by Reve Group, the development arm of the Kassis family, which has been building across the Hills District for more than 30 years through Kassis Homes.

[smartcode_project:default project_id=152737 project_image_fid=377675]

Nova Rêve also represents a significant step up from the family's first apartment development, Grand Rêve, which was delivered nearby on Garthowen Crescent.

Grand Rêve introduced larger, house-like apartment layouts and premium inclusions including Wolf and Sub-Zero appliances to the Castle Hill market.

Nova Rêve takes that approach to a precinct scale, combining the residential component with hospitality, retail and substantial public and resident landscaping.

[smartcode_project:default project_id=152737 project_image_fid=377685]

Reve Group Managing Director Sam Kassis said the project reflected the family's three decades of building in the Hills, which has evolved from trophy homes on quarter-acre blocks to larger-scale apartment development.

"Grand Rêve was our first apartment project here and it showed us what this pocket of Castle Hill could be. Nova Rêve is the refinement of that idea: not just apartments, but a place the whole suburb can use," Kassis said.

A key part of that approach is the hotel, which has been designed to operate as an amenity for the wider Castle Hill community rather than solely hotel guests.

It will include restaurants, cafes, skybars and all-day dining, alongside conference and event facilities catering to business functions, community groups and private events.

At ground level, more than 1,600 sqm of shops and cafes will open onto the surrounding streets and landscaped areas.

Almost an acre of gardens designed by Land and Form Studios will run through the precinct, incorporating pathways, seating, barbecue areas and children's play spaces.

[smartcode_project:default project_id=152737 project_image_fid=377680]

Reve Group's Romio Georges said creating an active ground plane had been central to the planning of Nova Rêve.

"There are gardens with pathways, barbecues, seating and play areas, shops and cafes opening onto the street, and a hotel with restaurants and a skybar that anyone in Castle Hill can walk into," Georges said.

The project's elevated position on one of Sydney's highest ridgelines will also provide apartments with outlooks toward the Sydney skyline, surrounding parkland and the Blue Mountains.

More than 80 per cent of the apartments will occupy corner positions, with Turner responsible for both the architecture and interiors.

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Nova Rêve arrives as Reve Group bets on Castle Hill's next growth phase

A collection of just 25 large-format apartments and penthouses overlooking Goodwin Park is entering the Coolangatta market, with <a href="https://www.apartments.com.au/new-apartments/marea-residences-coolangatta-27-27a-dixon-street-coolangatta-qld-4225">Maréa Residences</a> combining a low-density, residential-only approach with uninterrupted park and Pacific Ocean outlooks.

Located at 27 Dixon Street, Maréa comprises three and four-bedroom residences alongside a limited number of dual-level penthouses, with the project positioned between Goodwin Park and <a href="https://www.apartments.com.au/developments/coolangatta-qld-4225">Coolangatta</a>’s coastal precinct.

Construction has commenced, with completion currently estimated for late 2027. Three-bedroom residences are priced from $1.8 million.

[smartcode_project:default project_id=150999 project_image_fid=374005]

The project has been designed around its northern outlook across the park, with the building’s architecture, landscaping and material palette intended to establish a connection with the neighbouring green space. The residences have been configured to maximise natural light and views across Goodwin Park towards the ocean.

Inside, the material palette incorporates timber, stone and brushed brass, complemented by curved detailing and ambient lighting. Kitchens and bathrooms carry the same natural material approach, while residences also include basement parking, storage and lift access.

Maréa’s penthouses are arranged over two levels and include private pools, adding another layer to the project’s focus on larger-format apartment living. Across the development, residences are configured with three or four bedrooms rather than the broader mix of smaller apartment types commonly found in larger projects.

[smartcode_project:default project_id=150999 project_image_fid=374010]

Resident amenity is concentrated at rooftop level, where landscaped entertaining terraces and pools take advantage of elevated views across Coolangatta and the Pacific Ocean.

The project has so far been particularly well received by local owner-occupiers and downsizers, according to Urban Activation Property Sales and Marketing Director Matt George, with the residential-only format, construction quality and northern park outlook among the features resonating with purchasers.

“The uninterrupted northern aspect overlooking Goodwin Park has been a key point of difference, with buyers attracted to the sense of serenity and open space the park provides, while still enjoying easy access to the ocean and being within walking distance of the lifestyle and amenities Coolangatta has to offer,” George said.

[smartcode_project:default project_id=150999 project_image_fid=374002]

“The combination of high-quality construction, a residential-only building, park outlook and proximity to the beach has resonated strongly with the local downsizer market.”

The Dixon Street address is within walking distance of Coolangatta Beach and the broader southern Gold Coast coastline, including the surf breaks at Snapper Rocks and Kirra. Coolangatta’s cafés, restaurants and retail are nearby, while Gold Coast Airport is also within close proximity.

[smartcode_project_cta:default project_id=150999]

Maréa Residences brings parkside apartments to Coolangatta

Melbourne developer PDG has secured Victorian Government approval for its $1.5 billion Southbank development <a href="https://www.apartments.com.au/new-apartments/the-one-1-queens-bridge-street-southbank-vic-3006">The One</a>, clearing the way for the long-dormant riverfront site opposite Crown to finally be developed.

The Minister for Planning has approved the project at 1-29 Queens Bridge Street, with the Department of Transport and Planning issuing the planning permit following its assessment.

The approval will allow PDG to develop the prominent 5,059 sqm site with a major mixed-use tower comprising premium apartments, including branded residences, a luxury hotel and boutique office space.

PDG acquired the site in late 2024, with its position directly opposite Crown's main entrance and near Melbourne's Arts Precinct making it one of Southbank's most significant remaining development opportunities.

<img alt="PDG" data-entity-type="file" data-entity-uuid="3933013e-6332-4386-b9be-089df05caf17" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-27%20at%209.29.22%E2%80%AFAM.png?VersionId=sITIgBqDL0N3VNSMwWEmF5UA.uvcsRyu" />

Designed by COX in collaboration with ODO and PDG, the tower's architecture draws on the movement of the Yarra River, with six vertical pleats running the height of the sculpted facade.

The project will also see the heritage-listed Queens Bridge Hotel restored and incorporated into the development&nbsp;with new hospitality and public uses, including a rooftop venue.

A significant component of The One will be its residential amenity.

More than 5,000 sqm of resident facilities will be delivered across a single level, making it one of the largest consolidated residential amenity offerings proposed in an Australian apartment development.

The planning approval also incorporates a major upgrade of Queensbridge Square, which PDG will deliver in partnership with the City of Melbourne.

<img alt="PDG" data-entity-type="file" data-entity-uuid="73167fcd-1031-4b6f-a408-a064cfe45ed1" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-27%20at%209.29.17%E2%80%AFAM.png?VersionId=Pf1AEWxw6SNmBqR0zQW5lyEze.MtxgFp" />

The existing square will be revitalised as a new civic and pedestrian space along the Yarra River, strengthening the connection between the project, Southbank and the riverfront.

PDG Founder and Managing Director Vince Giuliano said the approval represented a major milestone for a site which has remained largely underutilised for more than 15 years.

“This is the most significant Planning Permit approval Melbourne has seen in recent years,” Giuliano said.

“For more than 15 years, this site has remained underutilised. This approval enables us to deliver a project that will contribute meaningfully to the revitalisation of Southbank, restore and reactivate an important heritage building, and create a new civic and hospitality destination for Melbourne.”

The latest approval follows an earlier planning permit issued by the City of Melbourne covering demolition works across part of the site at 9-29 Queens Bridge Street. Those demolition and early works are already underway.

PDG has also started generating early interest in the residential component from owner-occupiers ahead of a planned public launch in early 2027.

PDG secures approval for $1.5bn Southbank apartment development, The One

Local developer Harridan is seeking to turn its Woolloongabba apartment project into the first stage of a broader transformation of Burke Street, using a new 16-storey mixed-use building to establish a greener pedestrian connection toward the rapidly evolving Boggo Road transport and knowledge precinct.

The South East Queensland developer has filed plans for 154 apartments on the <a href="https://www.apartments.com.au/new-apartments/4-burke-street-woolloongabba-qld-4102">southern side of Burke Street</a>, where its proposal has been designed alongside a wider vision by LatStudios for the street.

That vision positions the southern side of Burke Street for buildings of 15 storeys and above, while envisaging lower-rise development of up to five storeys on the northern side to transition into Woolloongabba's existing character housing. It also proposes wider pedestrian verges, deep planting, new street trees and upgrades to the pedestrian approach to Boggo Road Station.

The Harridan development itself has been designed by Brisbane-based Arqus Design and will comprise 154 apartments across 16 storeys. The mix is weighted heavily toward two-bedroom apartments, with 121 proposed alongside 10 one-bedroom and 23 three-bedroom residences. There will typically be around 14 units per floor.

A lower-ground car park and three podium levels will accommodate 156 resident parking spaces, along with visitor and commercial parking. There will also be 154 resident bicycle spaces and 40 visitor bicycle parks.

&nbsp;

Harridan is a family-owned developer and part of the Holmwood Highgate Group, with more than three decades of development activity across South East Queensland. Its portfolio spans residential, commercial and industrial property, with current residential projects including Riverbank on Byron in Bulimba, Esperance Residences in Carina and The Precinct at Kinross Road in Thornlands.

Wooloongabba has been popular for apartment developers, particularly since the announcement of the 2032 Summer Olympics games in Brisbane.

While there have been a lot of development applications, it has failed to materialize into real supply.&nbsp;

Sarazin has been the major player in the area. They are under construction at Murcia Residences, on the fringe of East Brisbane and Woolloongabba. They have just launched <a href="https://www.apartments.com.au/new-apartments/the-stanley-residences-woolloongabba-8-trafalgar-street-woolloongabba-qld-4102">The Stanley Residences</a>, in Woolloongabba on Trafalagar Street. They also have Nuage coming soon on the nearby <a href="https://www.apartments.com.au/new-apartments/nuage-woolloongabba-14-wellington-road-woolloongabba-qld-4102">Wellington Road</a>.

First look: Harridan plans Burke Street transformation beside Boggo Road transport hub

Office Space

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A CBD shopping complex and an office space with development potential in Adelaide’s bustling Rundle Mall are on the market.
City Cross Shopping Centre and 32 Grenfell Street are being marketed through JLL’s Simon Rooney and Jamie Guerra, appointed by the Makris Group. 
City Cross comprises a combined 10,524 square metres of core retail and commercial floor space, set on a site of 6,779 sqm.
Retail investment activity in South Australia reached a record high in 2015 at $708 million.
The two major CBD transactions both transacted by JLL, that of the Myer Centre Adelaide ($288 million) sold to Singaporean REIT Starhill and the mixed-use Rundle Place and 80 Grenfell Street ($400 million) sold to US investment powerhouse Blackstone, both located on Rundle Mall, contributed significantly to last year’s record volume and demonstrated the high level of primarily-offshore capital seeking prime CBD retail and office assets, said Simon Rooney, JLL’s head of Retail Investments for Australasia.
City Cross is a mixed-use CBD shopping and office complex, comprising Harvey Norman, A-Mart Sports, two mini majors, 55 specialties and kiosks and four office tenancies with a significant holding income of approximately $6,448,000.
“Developers will be attracted to City Cross due to its absolute prime location in the core of the Adelaide CBD, with frontages to four key streets, its substantial holding income and the ability to unlock significant future value by creating a major mixed-use development subject to Development Assessment Commission (DAC) approval."
Subject to DAC approval, the development could comprise the existing retail, a 22,490 square metre commercial office tower, 316 residential apartments and a 56-bed student accommodation tower, he said.
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Adelaide CBD shopping complex and office space comes to market

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A tenanted three-level office tower in the heart of West Perth is for sale through Colliers International.
Interest in the Havelock Street property is anticipated to be strong.
The 1,131sq m property features a 1288sq m office building with secure parking for 27 cars and a strong net income of nearly $430,000 per annum.
The property is close to transport routes along Hay Street.
Colliers International Director Investment Services Nicholas Agapitos said 57 Havelock Street offered large 590sq m floor plates around a central service core, with banks of windows that ensured good natural light throughout the property.
While the building is in excellent condition, zoning also allows for the site to have other uses, including residential development.
“This property will appeal to a lot of owner-occupiers who will be able to take advantage of its position in West Perth,” Agapitos said.
“It is not often properties in this precinct come on to the market and we expect strong interest.”
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Plum West Perth property heads to market

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The NSW government has sold off a commercial office building in the heart of Blacktown for $17.15 million.
Blacktown City Council has been selected as the preferred buyer for the six-story building at 22 Main Street, after an open market tender.
The building will be leased back to the state government to meet the occupancy needs of government tenants, that includes the Department of Education, WorkCover NSW and Juvenile Justice.
“The sale and leaseback of this property not only releases capital upfront to reinvest into infrastructure and services for the community, it also maintains government jobs in Blacktown’s CBD,” said Brett Newman, the CEO of Government Property NSW, while announcing the sale.
Newman said the sale aligns with the principles outlined in the Property Asset Utilisation Taskforce (PAUT) report, which state that government should only own real property assets to support core service delivery.
The sale of 22 Main Street was managed by CBRE.
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NSW government's sale of Blacktown building fetches $17.5 million

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The valuation firm Herron Todd White has issued its latest property clock for the office market - a simple broad brush means to suggest where commercial property office markets are - and what direction prices are moving in.
The valuation firm has included capital and regional cities on the October 2015 property clock for price direction.
Melbourne and Tamworth office space is at the peak of the cycle.
<a href="/images/2015/10/12/Screen%20Shot%202015-10-12%20at%204.43.08%20PM.png" target="_blank">Click to enlarge</a><a href="/images/2015/10/07/Screen%20Shot%202015-10-07%20at%209.50.31%20AM.png" target="_blank"> </a>
For more information, <a href="https://www.htw.com.au/" target="_blank">click here</a>.
 
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Melbourne, Tamworth office space at peak: Herron Todd White

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Technology-related businesses and start-ups are driving the current demand for office space nationally in the sub-500sqm category, with average lease enquiries under 1,000sqm growing as a percentage of total leases as well.
According to the Second Half 2015 Research and Forecast Report from Colliers an influx of part-floor tenants are ready to come into the market as the sub-500sqm leases expire,with owners changing both leasing and development strategies as a result.
Nerida Conisbee, Colliers International national director of research said this is more a cyclical element given the long leases that large corporations typically take, however there are a number of structural issues also occurring. 
"The first is that there has been significant growth in small-to-medium size enterprises looking for space," she said.
“Average lease enquiry levels in the sub-1,000sqm category have grown as a percentage of total leases. In 2009, it amounted to 71% of total deals. This has grown consistently to currently account for 83%.
“We expect to see a wave of part-floor users enter the market over the next two years as a large number of these leases expire. The number is expected to be much higher than single floor and multi floor users over the next two years. We therefore expect that it will not just be new tenants entering the market that are after smaller tenancies, but also existing users looking for new space.”
<a href="/images/2015/08/18/Screen%20Shot%202015-08-18%20at%203.34.48%20PM.png" target="_blank">Click to enlarge</a>
<img src="/images/2015/08/18/Screen%20Shot%202015-08-18%20at%203.34.48%20PM.png" alt="">
Simon Hunt, Colliers International managing director of office leasing, said Investa recently leased a whole floor at 120 Collins Street and are looking into splitting a further floor.
“Our latest Colliers International Demand Index found 55% of the companies wanting office space in Sydney alone this year have sought less than 500sqm, and this is being experienced across the board for premium, A and B Grade tenancies,” he said.
"Tenants were continuing to place a greater focus on location. In both the Sydney and Melbourne CBDs there is a current centralisation of tenants taking place.
“In Sydney CBD, the differential is not as significant however we are seeing even greater movement of tenants from metro markets… historically, Melbourne CBD has not had much movement of tenants between CBD and metro locations with most tenants preferring to stay in either location. This has changed over the past 12 months, where the cost of being based in the Melbourne CBD has dropped significantly compared to metropolitan markets.”
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Start-ups, tech companies driving sub-500sqm office demand: Colliers

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Demand for high quality office space and improvements in occupancy levels helped Dexus Property Group lift its Funds from Operations and distributions in the 2015 financial year. 
The group, which has Australia’s largest prime office portfolio and a $9.6 billion funds management business, reported FFO increased to $544.5 million from $446.6 million a year earlier. This represented a per security increase of 9.3% to 59.5 cents. 
Distribution per security also increased 9.3% to 41.04 cents, in line with the group’s upgraded guidance provided in February. 
Chief executive Darren Steinberg said the business was in “great shape”. 
“Income from our property portfolio is underpinned by high occupancy and fixed rental increases and we expect to see strong valuation uplift across our portfolio with tightening of a further 25 to 50 basis points of [capitalisation] rates over the next 12 months as a result of recent transactional activity,” Steinberg said.
Occupancy rates across the portfolio rose to 95.3% and leasing incentives fell. 
Dexus reported stabilising markets in Sydney, where half of the office buildings it owns are located, and in Melbourne. However, vacancy rates remained well above historical averages in Brisbane and Perth. 
Despite the high vacancy rates, the group was attracted to the long-term growth prospects of Brisbane and Queensland more broadly. 
Executive general manager Ross Du Vernet said the group was excited about its acquisition of Waterfront Place in Brisbane, which it bought for $635 million, representing a 6.9% capitalisation rate. The sale settles in October 2015. 
“Brisbane office represents good relative value when we compare it to office markets nationally. Foreign capital is less active and we do think the 100 basis point discount applied to prime average capitalisation rates does overstate the risk in that market,” Du Vernet said.
Dexus issued guidance for FFO per security growth of 5.5 to 6% for the 2016 financial year with FFO from the underlying business expected to grow by 3 to 3.5%. 
It forecast distribution per security growth of 5.5 to 6%. 
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Office space demand drives Dexus Property Group results

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A 243 square metre three level office block on Melbourne's inner fringe is up for auction with expectations expected to exceed $800,000
127 Chestnut Street Cremorne goes under the Teska Carson hammer Thursday August 13 on site, less then two kilometres from the CBD. 
The property has a west facing balcony, and four undercover car spaces. It is zoned Commercial 2 and has 7.5 metres of street frontage.
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$800,000 plus hopes for Melbourne inner fringe office

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Office leasing levels nationally have increased 13% when compared to the same time last year with overall square meter space up 22%.
Demand for office space is highest in New South Wales with 112,937 sqm leased so far this year, up from 64,629 sqm recorded in the first half of 2014. 
Figures from Colliers International show interest in office space sized between 1,000sqm and 3,000sqm around Australia increased 31% from Q2 2004 to Q2 2015, with demand up 25% from Q1 2005 to Q2 2015.
Colliers International national director of office leasing, Cameron Williams, said larger firms are driving demand for office accommodation in 2015 compared to 2014. when smaller space was in strong demand.
“Core premium remains the most challenged market however, as we had anticipated, a flight to quality is occurring that will result in significant commitment within the core premium market during the second half of 2015," Mr Williams said.
“In 2014, we saw the government sector dominating as they put large requirements into the market. However, as we move into the second half of 2015 we are seeing business services, communications and finance catching up and dominating both in enquiry levels and leasing deals being negotiated.
 “At the smaller end of the market there has been a lot of activity from Asian investment companies that have a preference to be located in Sydney’s midtown. This growth is naturally having a positive impact on net absorption and lessors are becoming more confident."
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Sydney surges into second half as office leasing deals spike

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High demand for office space in Sydney and Melbourne is being quickly met, with the Brisbane market weakening and Perth and Canberra recording negative demand.
Underpinning the demand is the property and business services sector, which includes computer system design, engineering, technical services and architectural services.
BIS Shrapnel Senior Project Manager Maria Lee said that there has been a marked improvement in underlying demand since the depths of 2013 and that net absorption—which is already positive—will go higher. 
“We shouldn’t use recent history as a benchmark of what’s to come over the next few years," Ms Lee said.
"As demand comes through, the company forecasts higher rents will follow. But it’s a two speed economy and there is considerable variation city by city."
According to BIS Shrapnel, office space in Sydney and Melbourne accounted for 860,000 square meters of demand.
 
<a href="/images/2015/07/09/Screen%20Shot%202015-07-09%20at%2012.42.07%20PM.png" target="_blank" style="line-height: 1.3em;">Click to enlarge</a>
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