Not all apartment amenities are immediately visible.

Swimming pools, gyms, rooftop terraces and residents' lounges have long featured on buyers' wishlists, but as the way Australians live has changed, so too have the features that make apartment living more convenient.

Increasingly, buyers are placing value on the practical aspects of day-to-day life. Fast internet, EV charging, secure bike storage, flexible workspaces and parcel management are becoming just as relevant as lifestyle amenities, reflecting changing habits and expectations.

Online shopping has been one of the biggest drivers of that shift.

Australians spent a record $82.6 billion shopping online in 2025, with almost one in every four retail dollars now spent digitally, making parcel deliveries a routine part of everyday life rather than an occasional convenience.

For apartment residents, however, receiving those deliveries isn't always straightforward.

Without someone home to accept a parcel, deliveries can be redirected to a nearby Post Office, left in building foyers or common areas, or require building management to temporarily store packages. As apartment living continues to grow across Australia's cities, parcel management has become an increasingly important consideration for both residents and developers.

Australia Post's Parcel Locker network is one response to that shift.

<iframe allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" allowfullscreen="" frameborder="0" height="315" referrerpolicy="strict-origin-when-cross-origin" src="https://www.youtube.com/embed/KPZ9j5FRdsQ?si=Qztc1dNP3ZvEIUhb" title="YouTube video player" width="560"></iframe>

Rather than relying on home delivery, eligible parcels can be directed to a nominated Parcel Locker, where they're securely stored until collected. Once a parcel arrives, residents receive a notification through the AusPost app or SMS and can retrieve it using a one-time code or QR code at a time that suits them.

The network has expanded to more than 1,500 locations nationwide, with Parcel Lockers positioned at Post Offices, shopping centres, supermarkets, transport hubs and, increasingly, within or alongside residential developments.

That growing presence reflects a broader change in how apartment buildings are being planned.

Developers are increasingly considering the operational side of apartment living alongside traditional lifestyle amenities. Just as secure mailrooms, bicycle storage and EV charging have become more common inclusions, parcel management is emerging as another feature that supports everyday convenience.

It also helps preserve the arrival experience within a building. Carefully designed lobbies and communal spaces can quickly become cluttered when deliveries accumulate, while secure parcel solutions reduce the likelihood of missed deliveries or parcels being left unattended.

For buyers comparing apartments, these everyday details are becoming part of the decision-making process.

Location, floorplans and finishes remain fundamental, but the features that simplify daily life are carrying greater weight than they once did. As online shopping continues to shape consumer behaviour, secure parcel delivery is increasingly becoming another amenity worth looking for.

Joel Robinson

Parcel delivery is joining the apartment amenity checklist

Inca Property Group has lodged a State Significant Development Application (SSDA) for Dawn, a 53-apartment oceanfront development overlooking Mona Vale Beach.

The proposal, at 35-39 Darley Street East, would replace an existing 18-apartment strata building with a new owner-occupier-focused development comprising 53 two and three-bedroom apartments, including nine affordable built-to-rent residences delivered under the State's infill affordable housing scheme.

Positioned on a 2,679 sqm elevated site around 280 metres from Mona Vale Beach, the development has been designed to maximise panoramic ocean views while responding to the site's sloping topography.

<a href="https://www.apartments.com.au/developers/inca-property-group">Inca Property Group</a> Managing Director Josh Thompson said the State Significant pathway provided greater certainty for projects of this scale.

"This State Significant pathway gives the team real certainty to progress <a href="https://www.apartments.com.au/new-apartments/dawn-35-39-darley-street-east-mona-vale-nsw-2103">Dawn</a> through to completion," Thompson said.

"It allows us to acquire a one-off site, design it carefully and deliver the right offering for the suburb, assessed by the NSW Government's planning department."

The project is one of the first developments in the area to be assessed under the NSW Government's Low and Mid-Rise Housing policy, with the site sitting on the edge of the policy's designated inner area.

The proposal includes three basement levels providing 124 car spaces, alongside a range of resident amenities including a swimming pool, gym, sauna, wellness facilities and private plunge pools for selected ground-floor and penthouse apartments.

<img alt="Dawn" data-entity-type="file" data-entity-uuid="fc1a1daf-0ce4-4f12-9076-b1fa553c7a91" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-07-21%20at%208.42.11%E2%80%AFAM.png?VersionId=4GZ9h.gpNkTljbxyAET8Jfhv51XUamDm" />

Thompson said Dawn had been designed specifically for owner-occupiers and downsizers, a buyer profile that has driven demand across Inca's recent Upper North Shore developments.

"The majority of buyers in our recent North Shore projects have been downsizers, and we are learning exactly what this market is looking for. Beyond the location itself, we have included resort-style amenities to deliver a genuine lifestyle offering," Thompson said.

Located within walking distance of Mona Vale Beach, the town centre, Mona Vale Golf Club and the Royal Motor Yacht Club, Dawn represents Inca's first Northern Beaches project following the sell-out of Tara on Park in Waitara and Ellis Residences, currently under construction in St Ives.

Construction will be undertaken by Inca's in-house construction arm, GOP Constructions.

Dawn is the latest major apartment proposal for Mona Vale, with the suburb emerging as one of the key beneficiaries of the NSW Government's new Low and Mid-Rise Housing policy.

New developer One Living, led by industry veteran Joseph Scuderi, recently secured a site on Mona Vale Road, on the border of Mona Vale and Pymble, where it is planning around 140 apartments.

IPM is also planning its third project in Mona Vale, significantly increasing the scale of its previous developments with an 82-apartment proposal at <a href="https://www.apartments.com.au/new-apartments/159-167-darley-street-west-mona-vale-nsw-2103">159-167 Darley Street West</a>, opposite Bayview Golf Course and less than 800 metres from Mona Vale town centre.

Read more:&nbsp;<a href="https://www.apartments.com.au/news/nsw/one-living-enters-sydneys-new-apartment-market-with-northern-beaches-site-acquisition">One Living enters Sydney's new apartment market with Northern Beaches site acquisition</a>

Read more:&nbsp;<a href="https://www.apartments.com.au/news/nsw/first-look-ipm-plans-third-mona-vale-project">First look: IPM plans third Mona Vale project</a>

First look: Inca eyes Mona Vale with State Significant DA for Dawn apartments

Seasoned Victorian apartment developer <a href="https://www.apartments.com.au/developers/central-equity">Central Equity</a> has logged more than $400 million in sales in its luxury apartment project Palmera Residences at Northcliffe on the Gold Coast.&nbsp;

Central Equity Director Karl Kutner said the sales result reflected a combination of location, product quality and delivery certainty with the project already under construction by building powerhouse Multiplex.&nbsp;

"Surpassing $400 million in sales since launch is a significant milestone and an outstanding endorsement of <a href="https://www.apartments.com.au/new-apartments/palmera-residences-gold-coast-18-garfield-terrace-surfers-paradise-qld-4217">Palmera Residences</a>,” he said.&nbsp;

"We believe one of the key reasons for this strong result is the confidence purchasers have in knowing the project is under construction with Multiplex. Buyers are increasingly looking for certainty. They want to know that the project they commit to today will be delivered by an experienced team with a proven track record."&nbsp;

[smartcode_project:default project_id=108274 project_image_fid=365782]

Kutner said it was clear there was still high demand for luxury projects that offered certainty of delivery.&nbsp;

“We are in a market where many residential developments have faced delays due to rising construction costs, labour shortages and financing challenges,” said Kutner.&nbsp;

"But having construction underway has provided our buyers with resounding confidence backed by more than 40 years of development delivery by Central Equity combined with construction by one of Australia's most respected construction companies."&nbsp;

[smartcode_project:default project_id=108274 project_image_fid=365785]

Central Equity is one of Australia's most experienced privately-owned property developers. Over more than four decades, the company has delivered in excess of 85 residential developments including 10,000 apartments and many thousands of stand alone homes.&nbsp;

Located on Garfield Terrace at Northcliffe, between Surfers Paradise and Broadbeach, Palmera Residences occupies one of the Gold Coast's most sought after beachside locations. The development has been designed to appeal to owner occupiers seeking premium residences that combine generous living spaces and resort style amenities.&nbsp;

Palmera Residences will feature an exceptional collection of resort style amenities, including two swimming pools: a generously sized family pool with safe shallow zones for relaxed recreation, and a 20 metre lap pool positioned to maximise all day sunlight.&nbsp;

Residents will also enjoy exclusive access to wellness and recreational facilities including a magnesium pool, sauna, yoga studio, expansive fitted gymnasium, resident lounge, outdoor BBQ’s&nbsp;and indoor and outdoor dining areas, together with a dedicated concierge and luxurious hotel inspired entrance foyer.&nbsp;

[smartcode_project:default project_id=108274 project_image_fid=365767]

A unique feature at Palmera Residences has been designed to enhance the Gold Coast lifestyle which includes both indoor and outdoor gymnasium facilities, together with thoughtfully designed indoor and outdoor dining and entertaining areas. A corner café has also been incorporated to provide residents with a destination for their everyday needs.&nbsp;

Kutner said buyer demand had been broad based with purchasers attracted from interstate as well as throughout South East Queensland.&nbsp;

"We're seeing strong interest from owner occupiers, lifestyle buyers and people relocating to the Gold Coast. Many purchasers have been searching for a premium beachside residence where quality, design and delivery are equally important."&nbsp;

[smartcode_project:default project_id=108274 project_image_fid=365771]

Kutner said the sales milestone was an important achievement, but the focus remained firmly on delivering an exceptional development.&nbsp;

"While reaching $400 million in sales is an important milestone, our priority remains delivering a project that exceeds purchaser expectations,” he said.&nbsp;

"Palmera Residences has been designed to become one of the Gold Coast's landmark residential addresses, and we look forward to welcoming our purchasers to their new homes."&nbsp;

There are a limited number of residences remaining in selected configurations with pricing from $2,950,000 to $8,950,000. Palmera Residences is also crowned by expansive penthouses with wrap around views.

[smartcode_project_cta:default project_id=108274]

Construction certainty and strong buyer demand drive major sales result for luxury Gold Coast development

Palmera Residences fly out the door as sales pass $400 million

National property developer <a href="https://www.apartments.com.au/developers/goldfields-group">Goldfields</a> has appointed BINAH as its construction partner for Quartet, its new Brisbane apartment development in the undersupplied suburb of <a href="https://www.apartments.com.au/developments/milton-qld-4064">Milton</a>.

Located just two kilometres from the Brisbane CBD and moments from key 2032 Olympic precincts, <a href="https://www.apartments.com.au/new-apartments/quartet-milton-33-manning-street-milton-qld-4064">Quartet</a> will deliver 131 one, two, three, and four-bedroom apartments priced from $1 million to $4.2 million, combining elevated design with a wellness-focused lifestyle offering.&nbsp;

[smartcode_project:default project_id=108736 project_image_fid=368000]

Goldfields’ Chief Executive Officer, Lachlan Thompson, said the appointment of <a href="https://www.apartments.com.au/builders/binah-constructions">BINAH</a> marked an important milestone for the project.&nbsp;

“Bringing BINAH on board as our construction partner will allow us to bring our vision for Quartet forward with a team that has a proven track record of delivering high-quality residential projects,” Thompson said.&nbsp;

“We’ve taken a considered approach to progressing the site because we wanted to deliver the whole package. Buyers ultimately back great developers, great projects and great builders, and with Quartet, we’ve made sure all three line up.

“People want certainty, they want to know the project will be built, that the homes will be delivered as promised, and that the developer stands behind the quality of what they create. That’s something Goldfields has built its reputation on over many years.”&nbsp;

[smartcode_project:default project_id=108736 project_image_fid=367993]

BINAH’s Managing Director, Khalil Hafza, said the company was proud to be partnering with Goldfields to deliver Quartet.&nbsp;

“Quartet is an exciting project to bring to life, particularly given the level of detail in the residences and the extensive rooftop amenity planned for the building,” Mr Hafza said.&nbsp;

“Our focus is on delivering a high-quality build that brings that design vision to life and creates homes residents will enjoy for many years.”&nbsp;

[smartcode_project:default project_id=108736 project_image_fid=367999]

The facilities at Quartet have been feared towards the roof, with a&nbsp;25 metre lap pool, spa, sauna and cold plunge, and a communal barbecue area and alfresco.

Town planning was designed by <a href="https://www.apartments.com.au/architects/rothelowman">Rothelowman</a> and brought to life by Melbourne-based architecture firm Cera Stribley.

<a href="https://www.apartments.com.au/interior-designers/cera-stribley">Cera Stribley</a> Co-Founder and Managing Principal, Dom Cerantonio, said the project responds to both its riverside setting and Brisbane’s evolving urban character.&nbsp;

“Quartet has been designed to sit comfortably within its riverside context, offering a refined take on urban living through well-planned, generously proportioned residences that will stand the test of time,” Mr Cerantonio said.&nbsp;

“An emphasis on natural light, natural textures and carefully selected finishes from timber and marble to premium appliances, creates calm, considered interiors designed for comfort and long-term liveability.”&nbsp;

Construction of Quartet will commence in July 2026, with completion anticipated in Q4 2028.

[smartcode_project_cta:default project_id=108736]

Construction to commence on 131-residence tower designed around wellness-focused living

Goldfields appoints BINAH for Quartet apartments in Milton

The first partnership between national developer <a href="https://www.apartments.com.au/developers/fortis">Fortis</a> and Adelaide-based developer <a href="https://www.apartments.com.au/developers/otello">Otello</a> has made a strong start, with the pair securing $21 million in unconditional sales at <a href="https://www.apartments.com.au/new-apartments/one-four-four-hutt-adelaide-144-hutt-street-adelaide-sa-5000">One Four Four Hutt</a>&nbsp;on the edge of the Adelaide CBD.

Over a third of apartments have been snapped up in the boutique 44-apartment project on the corner of Hutt Stret and Wakefield Road. Local downsizers and owner-occupiers wanting to remain in Adelaide's tightly-held southeast quarter have been the most prominent purchasers.

The DKO-designed, mixed-use development is one of the few new apartment projects in the precinct, an area where new housing supply has remained limited despite continued demand from buyers wanting to stay close to the CBD, Victoria Park and Adelaide's established east-end amenities.

[smartcode_project:default project_id=151233 project_image_fid=375378]

Fortis Head of Development SA Arthur Dendrinos said the early sales reflected both the strength of the local owner-occupier market and confidence in the Hutt Street location.

"The level of early commitment reflects the confidence local buyers have in the Hutt Street precinct," Dendrinos said.

"Many purchasers are long-term east-end residents who love the area and want to stay connected to the neighbourhood. They recognise the value of a well-designed, well-located development.

"Our partnership with Otello has been central to this success, and the number of unconditional sales at this stage only strengthens our confidence in the South Australian market."

[smartcode_project:default project_id=151233 project_image_fid=375379]

Otello Director Daniel Harris said the sales result also highlighted the lack of new apartment opportunities within the Hutt Street precinct.

"One Four Four Hutt has clearly resonated with buyers, with strong early sales reflecting both the appeal of the Hutt Street corridor and the lifestyle on offer," Harris said.

"The activated ground-floor retail has also been a key drawcard, with purchasers responding to the vision of a more vibrant and connected streetscape, not just the residences themselves."

One Four Four Hutt will deliver 44 one, two and three-bedroom apartments, alongside a collection of penthouses, above a ground-floor retail offering designed to further activate the Hutt Street precinct.

Construction is scheduled to commence in the third quarter of this year, with completion anticipated in 2028.

[smartcode_project_cta:default project_id=151233]

Fortis Head of Development SA Arthur Dendrinos said the early sales reflected both the strength of the local owner-occupier market and confidence in the Hutt Street location.

Fortis makes Adelaide debut with Otello as One Four Four Hutt records strong early sales

Reits

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Australian listed property companies with a focus on commercial property delivered solid results in the February reporting season while corporate activity and property transactions were high on the agenda.
Property companies have outperformed the broader share market. The S&amp;P/ASX 200 A-REIT index, which tracks Australian listed real estate investment trusts, is up 30% over the year to the end of February compared with 10% for the ASX 200 index.
Companies with exposure to retail property performed well in the latest reporting season as sales growth and asset revaluations lifted profits.
While not specifically a property company, homeware giant Harvey Norman has a sizeable holding of retail property. It said improving consumer confidence and growth in equity and housing markets benefited its results while its own property assets increased in value.
The company reported a first-half net profit of $142 million, up 27.4%. Sales revenue increased 8% to $839.3 million, while the value of its property assets rose to $2.31 billion from $2.27 billion.
Fellow retailer Wesfarmers reported that Coles’ revenue increased 2.8%, while homewares sales, including Bunnings, were up 11.8%. Sales from Woolworths’ home improvements business were also up, although overall the grocery giant reported weaker sales results.
Declining sales growth for Woolworths is a risk for listed property companies such as SCA Property Group, Charter Hall Retail REIT and Federation Property, which own mostly neighbourhood and smaller shopping centres with those retailers as anchor tenants. However, each of those groups reported solid results and increasing property values.
Gains in asset values was a common theme for retail-focused Australian real estate investment trusts. There was also a large number of shopping centre sales through the period with commercial property agent Savills reporting $5.7 billion worth of retail property changed hands in 2014, down from $7.4 billion in 2013, but up compared with the five-year average.
Corporate activity was also a feature of the most recent reporting season.
Novion Property Group is in merger talks with Federation Property while Scentre Group formed in mid-2014 out of the restructure of the Westfield Group. All three companies reported higher asset valuations and positive results.
Westfield Corporation, which also formed out of Westfield Group and invests in shopping centres in the US and UK, reported half-year profit increased 20% to US$582.3 million.
“Retail has performed strongly in recent years, but rental growth is expected to moderate going forward because of pressures of sales leakage to online retailers, consumer deleveraging and declining sales productivity,” Morningstar analysts said.
Industrial property is seen as one of the beneficiaries of increasing online sales as warehouse and logistics-focused property gains importance. There has been strong growth in investor demand for industrial properties over the past 12 months, particularly top quality properties, CBRE’s 2014 Q4 Industrial MarketView report showed.
Investor demand for office property has also been strong although tenant demand, particularly in Perth and Brisbane has been weaker as a result of the downturn in mining investment. 
In total $24 billion worth of commercial property transacted in 2014, Savills’ research shows.
Growthpoint Properties Australia, which invests in office and industrial property, noted in its interim report that there has been a “disconnect between weaker occupier demand and high investment demand” for Australian commercial property over the past two years.
“This appears to be the result of mixed economic conditions coupled with historically low interest rates and bond yields” Growthpoint noted.
“In the office sector, weak occupier demand has resulted in high levels of vacancies and incentirves across Australia. Within the industrial market, occupier demand was patchy over 2014 with the gross take-up being substantially below the 10 year average and at its lowest level since 2009.
“Office market leasing conditions are expected to remain difficult in 2015 … Moderate occupier demand for industrial space is being experienced. Competition for well leased office and industrial properties will continue as the demand for investment outweighs the supply of property coming to market for sale with the strong demand from offshore investors, as well as domestic institutional and A-REIT investors expected.”
Growthpoint reported half-year profit up 123.4% from the previous corresponding period to $141.8 million. Its properties were revalued 4.5% higher in the first half.
Analysts at CLSA reportedly expect B-grade office, industrial and regional retail asset classes to outperform in 2015, and anticipate further mergers and acquisitions from the likes of Mirvac, Cromwell, Dexus, GPT and Charter Hall. They believe stocks in the sector are expensive but estimate an 11% return in 2015 if bond rates stay low.  
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zfielding-GvX3Uq9KTa

REITs deliver strong results in February reporting season

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GUEST OBSERVATION
Since the start of quantitative easing in the US and UK in the aftermath of the global financial crisis, yields on fixed interest investments have fallen significantly.
This has encouraged investors to seek investments with higher yields. One of the attractive asset classes has been real estate investment trusts (AREITs). AREITs provide both attractive yields and prospective capital growth.
What Attractions?
AREITs have a history of providing investors with strong and growing distribution income through growth in rental income. Investors have been embracing REITs in recent years for their attractive income yields.
Table 1 compares the income return of AREITs and the 10 year Australian government bond yield for 15 years to 31 December 2014. The average income yield of AREITs over 15 years to 31 December 2014 is 1.6% higher than that of the average10 year government bond yield.
Table 1- AREITs Income Yield vs Government Bond Yield – 15 Years
<table style="width: 455px;" border="0" cellspacing="0" cellpadding="0"><tbody>
<tr>
<td valign="bottom" nowrap width="285">
 
</td>
<td valign="bottom" nowrap width="170">
Average Yield (%)
</td>
</tr>
<tr>
<td valign="bottom" nowrap width="285">
AREITs
</td>
<td valign="bottom" nowrap width="170">
6.8
</td>
</tr>
<tr>
<td valign="bottom" nowrap width="285">
10 Year Government Bond
</td>
<td valign="bottom" nowrap width="170">
5.2
</td>
</tr>
</tbody></table>
In the current environment, AREITs provides attractive absolute earnings yields of 6.0% and a margin of 3.0% over the 10 year government bond yield. Chart 1 compares the AREITs earnings yield and 10 year government bond yield. AREITs have been providing significantly higher earnings yields than that of the 10 year government bond since March 2011.
Chart 1 – Australian Listed Property Earnings Yield vs Government Bond Yield
<img src="/images/2015/03/04/nui%20mar%204%20one.png" alt="">
Source: RBA, IRESS
In addition to yield, investors have benefited from capital gains. Large numbers of investors who have found the yields from AREITs attractive have invested in listed property trusts, pushing up AREITs prices. Over the one year period to 31 January 2015, the AREITs price has risen by 29.1%.
When Interest Rates Rise?
Investors will be concerned that AREITs will become less attractive when interest rates rise. While we acknowledge that this is a valid concern, there are some offsetting factors.
Firstly, although higher interest rates will cause higher costs of borrowing, the rise of interest rates is also a signal of a strengthening economy. Higher growth in the economy will increase the demand for commercial real estate, improve occupancy rates and rental income. Hence, any increase in cost of borrowing may be offset by the landlord’s ability to raise rental rates, which will flow through to higher distributions to investors.
Secondly, the AREITs sector today does not show the same risky characteristics as it did during the GFC. Table 2 below shows that AREITs, on average, have reduced their gearing levels, as measured by debt/asset ratios, since the GFC. The highly geared trusts, which are more likely to suffer from negative cash flow impacts when interest rates rise, are less exposed than in 2009. It is believed that the burden of rising interest rates on AREITs will be much less.
Table 2- AREITs - Average Gearing Levels
<table style="width: 460px;" border="0" cellspacing="0" cellpadding="0"><tbody>
<tr>
<td valign="bottom" nowrap width="171">
 
</td>
<td valign="bottom" nowrap width="132">
GFC 
(Dec-09)
</td>
<td valign="bottom" nowrap width="113">
Current 
(Dec-14)
</td>
</tr>
<tr>
<td valign="bottom" nowrap width="171">
Average Gearing (%)
</td>
<td valign="bottom" nowrap width="132">
34.0%
</td>
<td valign="bottom" nowrap width="113">
30.0 %
</td>
</tr>
<tr>
<td valign="bottom" nowrap width="171">
Gearing Range (%)
</td>
<td valign="bottom" nowrap width="132">
24.0% - 61.0%
</td>
<td valign="bottom" nowrap width="113">
0%-40.9 %
</td>
</tr>
</tbody></table>
Source: UBS, ASX
Moreover, the spread between AREITs earnings yields and 10-year government bond yields remains wide. This point is demonstrated in Chart 2 by comparing the margin of the current earnings yield of AREITs with 10 year government bond yield and the long-term average. The current margin of 3.0% is above the long term average of 2.2%, which provides a buffer when interest rates rise.
Chart 2 –Property Earnings Yield vs Bond Yield - Margin
<img src="/images/2015/03/04/nui%20mar%204%20twol.png" alt="">
Source: UBS, IRESS
Interest rates have remained low for a long time. AREITs provide stable income and prospective capital growth. When interest rates rise, investors still have some support from rising rents, the wide yield spread and the lower gearing levels. Prices may fall but only marginally.
Ming Niu is an analyst at <a href="https://atchison.com.au/" target="_blank">Atchison Consultants</a>.
This article has been updated since initial publication.
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Will AREITs remain attractive once interest rates start to rise? Ming Niu

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Charter Hall has reported solid growth for its half year result, with both operating earnings and profit recording strong double digit growth.
The property investor and fund manager saw operating earnings rise 27.1% to $48.4 million and statutory profit up 39.5% to $39.9 million.
Some 284 leasing transactions were completed across the portfolio totalling 300,000 square metres, including a number of major leasing renewals within the office portfolio.
Occupancy increased 0.8% to 97.6%.
Its top tenants include Woolworths, Wesfarmers, Telstra, Macquarie Group, Metcash, Westpac, Wilson Parking, Aurizon and Allianz. 
At the Core Plus Office Fund’s Kogarah asset in Sydney, Westpac renewed its lease for an additional 20 year period and an additional 10 year agreement was secured with the government in PFA’s Cannington property in Perth," Charter Hall’s joint managing director, David Southon, said.
"We aim to further enhance both income yield and total returns of these portfolios with $1.6 billion of development projects underway in Charter Hall Group managed funds across the office, industrial and retail portfolios, including the 333 George Street redevelopment in Sydney.”
Charter Hall Group’s balance sheet investments increased by $75 million to $795 million.
"The Australian property yield spread to bond yields and the cost of debt remains attractive for domestic and offshore investors," the results noted.
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Charter Hall achieves 97.6% occupancy

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Westfield Corporation chairman Frank Lowy is proud of successfully completing the restructure of Westfield during the year.
"The combined market capitalisation of Westfield Corporation and Scentre Group is now over $41 billion, representing $12 billion of value creation for the securit yholders who participated in the restructure,” the latest results advised.
Westfield Corporation is included in the S&amp;P/ASX200 A-REIT Index with a weighting of approximately 20%.
"Given this significant weighting of the Group in that index, it is informative to show the comparison of Westfield Corporation’s total returns against the performance of other index participants (excluding Westfield Corporation)," Westfield said.
WFD total return (pro-forma for Restructure) v S&amp;P/ASX200 A-REIT Index constituents (excluding WFD) (Click to open in new window:):
<a href="/images/2015/02/25/westfiled-feb-25-one.jpg" target="_blank"><img src="/images/2015/02/25/westfiled-feb-25-one.jpg" alt=""></a>
Its development pipeline is expected to create significant long-term value for security-holders, the half year report noted.
As the group’s assets and operations are located overseas, principally in the United States, the group has adopted United States dollars as its presentation currency.
Westfield Corporation owns a pre-eminent portfolio in the United States and United Kingdom valued at $28.5 billion (Group’s share: $17.7 billion) with some 7,400 retailers and 50 million sqf of gross leasable area.
"The performance of Westfield Corporation’s portfolio in the United States and United Kingdom remains strong," the report stated.
"Significant progress is being made on the $11.4 billion pipeline of current and future developments, which include Westfield World Trade Center in New York, Century City in Los Angeles and the expansion of Westfield London and Valley Fair in Silicon Valley."
Westfield Corporation announced its earnings results with Funds From Operations (FFO) for the six months ended 31 December 2014 of $391 million, in-line with forecast. 
Speciality sales across its portfolio rose 3.9% to $700 per square foot across 2014, with growth of 4.5% in its flagship centres achieving $986 per square foot.
The regional portfolio specialty retail sales achieved of $476 per square foot, up 3.3%. 
Average specialty rents for the total portfolio were $86.34 per square foot, up 4.1% with the Flagship portfolio at $115.35 per square foot, up 5.0%.
Growth over expiring rents for comparable space was 20%, comprising 26% in the Flagship portfolio and 7.7% in the Regional portfolio. This includes the five yearly rent reviews at Westfield London. 
The group’s two London assets, Westfield London and Stratford City achieved combined annual sales of almost £2.1 billion with approximately 70 million annual customer visits. The upcoming expansion at Westfield London will be anchored by a new flagship John Lewis department store. On completion, Westfield London is expected to become the largest shopping centre in Europe. 
Meanwhile Frank Lowy has convinced his son Peter to reconsider departing from his executive role.
When the Lowy family announced the controversial restructuring of its empire last year, Peter indicated that he would step back from his position as co-chief executive with brother Steven and instead take a non-executive role.
"With the group's exciting prospects, its extensive and geographically diverse development pipeline, its drive for innovation and on-going capital management initiatives, the board has asked Peter Lowy to reconsider his decision to step down from his executive position," the company said in a statement on Wednesday morning.
"The board is please to announce that Peter has agreed to remain as co-CEO together with Steven Lowy."
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Westfield's Peter Lowy is staying with the family firm

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The sale of Investa Property Group by Morgan Stanley Real Estate Funds is attracting international buyer interest.
The Australian Financial Review's Street Talk column advised interest has come from Mitsubishi Estate of Japan and Singapore's City Developments Ltd (CDL).
The early line-up of potential bidders for Investa included Blackstone with Ivanhoe Cambridge, as revealed by Street Talk, Fosun from China and LaSalle Investment Management. 
On the local front Cbus has already expressed interest in the opportunity to secure a stake in 13 towers worth at least $2.3 billion. 
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Investa listing atracts international attention

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Westfield shopping centre operator Scentre Group chief executive Peter Allen says the group had benefited from the recent demerger.
“The establishment of Scentre Group has allowed management to focus exclusively on the opportunities in Australia and New Zealand,” he said.
Scentre Group announced results for the six months to 31 December 2014 with arising from its ownership of 47 Westfield centres, including 14 of Australia’s top 20 performing centres, and has assets under management of $40.9 billion.
At 31 December 2014, the portfolio remained more than 99.5% leased, while average specialty retail sales in Australia had increased to $10,200 per square metre.
For the 12 months to 31 December 2014, comparable property net operating income across the Australian and New Zealand portfolio increased 2.2%.
Scentre Group has an identified future development pipeline in excess of $3 billion.
This year it commenced new developments at Chatswood and North Lakes with a combined value of $190 million, with the Scentre Group share being $150 million. 
In 2014, Scentre Group completed the $410 million development at Westfield Garden City in Brisbane and the major stage opening of the $475 million (Scentre Group's share $238 million) development at Westfield Miranda in Sydney.
Scentre Group’s development activity also includes two design and construction projects that are being undertaken for AMP Capital. The $440 million development at Macquarie Centre was opened in the second half of 2014, and the Group continues to make good progress on the $670 million development at Pacific Fair that is expected to be completed in 2016.
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Scentre benefits from narrower retail focus

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Federation Centres, which has 65 retail assets owned or co-owned, had advised its occupancy rate is maintained at 99.5%.
Its net operating income grew by around 3.7% compared to 2.2%, underpinned by total rental growth of 3.2%.
Specialty store sales growth of 2.3% was achieved compared with 2.0% on a moving annual turnover basis, in announced in its half year results today. Federation Centres CEO and managing director, Steven Sewell said it was "very pleasing that positive leasing spreads were achieved across all three centre types for both renewals and new leases".
“Careful management of overheads during the half year led to a significant reduction.
"An improved procurement process for costs such as electricity and cleaning was a key drive.
"The newly commissioned IT platform will provide ongoing opportunities to more efficiently manage our business as well.
"Simplification of the corporate structure from a quadruple to dual stapled security will also assist in managing the business efficiently." 
Its statutory net profit of $222.5 million was down 1.9% from $226.7 million with underlying earnings of $129 million up 8.6%. 
Overheads were reduced by 3.3% or $0.7 million on a larger portfolio. 
On its proposed merger with Novion Property Group, Steven Sewell said it was a "unique opportunity to create an investment portfolio that provides both immediate synergy benefits and material value creation along with significant long term benefits such as increased relevance to debt and equity investors, improved growth opportunities and enhanced asset, geographic and tenant diversification".
The merger proposal is unanimously endorsed by the board of Federation Centres, as well as the Novion Board and Novion’s largest securityholder the Gandel Group.
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Electricity and cleaning efficiency reduces Federation Centres overheads

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Morgan Stanley Real Estate, the US giant, has commenced a formal process around its holding in Investa Property Group (IPT).
Cbus Property and the Chinese group Fosan have been tipped as among global and domestic property management businesses keen to buy the Morgan Stanley fund's assets. 
Neither Investa Office Fund (IOF) nor Investa Commercial Property Fund (ICPF) will participate in any sales process of IPT to avoid perceived conflicts of interest. 
The IOF does have certain pre-emptive rights over the management platform. 
The assets includes Sydney CBD interests at 126 Phillip Street, 225 George Street, and 400 George Street, and 120 Collins Street in Melbourne.
Macquarie Capital and Fort Street Advisers are acting for the responsible entity of the IOF.
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Morgan Stanley seeks buyer for Investa Property Group holdings

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Residential property prices along the eastern seaboard will continue to grow for the next few years supported by strong population and employment growth, low interest rates and an undersupply in many housing sub-markets, Stockland Property Group chief executive Mark Steinert has predicted.
Stockland reported a 55.1% increase in statutory profit for the first half of 2015 compared with the prior corresponding period. The huge increase was largely due to revaluations of its commercial property assets, but underlying profit was also up by 8.5%, driven by a 73% improvement in its residential business.
“Growth [in the residential business] came not only from supportive market conditions but more particularly from launching new projects, activating our land bank and also improvements in [sales] volume, in particular in Victoria and Queensland,” Steinert said in announcing the half year result.
The company sold 22% more residential lots in the first half of 2015 than during the same period of 2014. It has entered the second half of the financial year with a record 3700 contracts on hand, up 550 compared with the previous six months.
“The Western Australian market is slowing – we’ve been talking about that for well over a year – but overall we expect, particularly on the eastern seaboard, an elongated residential cycle that will continue to show reasonable levels of growth for the next couple of years,” Steinart said,
Stockland’s residential division specialises in producing affordable low and medium density homes. More than 45% of its residential properties are sold to first home buyers.
The company plans to continue to boost profits in its residential division by developing more of its land reserves and buying additional development land adjoining or close to its successful projects to take advantage of brand awareness in the local markets.
Residential property makes up around 20% of Stockland’s business. Steinert said its other divisions had also performed well.
Underlying profit from the retail business was up 3.3%, logistics and business parks was up 5.7%, and office was up 7.8%. The retirement living business reported a 5.8% increase in operating profit.
The company tighten its guidance range from 6.5 to 7% earnings per security growth to 6.75 to 7% EPS growth for the full year. It forecast distributions would be maintained at 24c, assuming conditions remained reasonable. 
DISCLAIMER: Zoe Fielding owns shares in Stockland.
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Western Australian housing price growth slowing: Stockland results 

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Frasers Centrepoint achieved a 55% surge in first-quarter profit from the corresponding period, after a boost from new contributions following the acquisition of Australand in Australia.
FCL reported the increase came primarily from contribution from Australand Property Group, which was acquired in August 2014.
Australand’s residential business received a boost from a significant level of completions at the Clemton Park and Discovery Point residential projects. 
For the three months ending 31 December, net profit totalled S$186.9 million (A$177.58 million), up from S$120.8 million (A$114.77 million) in the same period earlier, as revenue nearly doubled to S$1.07 billion (A$1.02 billion) from S$552.1 million (A$524.55 million), Frasers Centrepoint said.
<div>The listing of Frasers Hospitality Trust in July last year resulted in new income streams from the six hotels acquired by the trust from Thailand’s TCC Group, it said.</div>
Frasers Australand, comprising Australand that was acquired last August and Frasers Property Australia, almost doubled its year on year profit before interest and tax to S$127 million (A$120.66 million), mainly as a result of a significant level of completions at the Clemton Park and Discovery Point residential projects.
“This first quarter of FY14/15 marks the maiden full-quarter contribution from Australand, which has not only enlarged our income base but also enhanced the sustainability of our earnings through an increase in recurring income,” Frasers Centrepoint chief executive Lim Ee Seng said.
The Australian residential market continued to be strong, providing a positive environment for Frasers Australand’s planned release of around 1,500 dwellings over the remainder of the fiscal year.
Lim Ee Seng said it was important to continue to focus on the smooth integration of Australand into the group. 
Bob Johnston heads the combined Frasers Property Australia and Australand Property Group operations.
The report noted completion and settlement of over 750 apartments in 1Q FY14/15, including at two major residential projects – Clemton Park and Discovery Point
Released 658 land lots and apartments across five projects for sale in 1Q F14/15.
Frasers Australand, comprising Australand and Frasers Property Australia (“FPA”), recorded 156% and 99% year on year increases in revenue and PBIT to S$692 million (A$657.47 million) and S$127 million (A$120.66 million), respectively, in 1Q FY14/15.
Of these, Australand contributed S$568 million (A$539.66 million) in revenue and S$108 million (A$102.61 million) in PBIT mainly as a result of a significant level of completions at the Clemton Park and Discovery Point residential projects during the reporting quarter.
Gains from Australand were partially offset by lower contributions from FPA as sales at the One Central Park and Parklane projects in Sydney, which were completed in 2014, tapered off.
FPA’s lower revenue and PBIT in 1Q FY14/15 was also due to the absence of a one-off gain from the sale of an undeveloped site in the previous corresponding quarter. 
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