It’s been 15 long years since the former Balmain Leagues Club was open to the public. The large 7,330 sqm Victoria Road site had grown progressively more derelict since the doors to the former club shut back in 2010.

Earlier this year, the vertically integrated developer PERIFA, part of the Versatile Group of companies, stepped in and acquired the site, quickly getting to work on construction through its building business Versatile Construction.

PERIFA teamed up with financier Mitsubishi Estate Asia to create <a href="https://www.apartments.com.au/new-apartments/rozelle-village-rozelle-152-victoria-road-rozelle-nsw-2039">Rozelle Village</a>, a new community heart of the charming inner west suburb. The mixed-use precinct will not only be home to around 150 one-, two-, and three-bedroom apartments, but also feature a fully activated ground plane with extensive hospitality venues and retail spaces.

[smartcode_project:default project_id=8142 project_image_fid=338]

A new club will replace the old Balmain Leagues Club. The public plaza will include a range of new food and hospitality venues, a community art studio, and a retail precinct anchored by a full-line supermarket, a first for the peninsula.

The apartments will be spread across three interconnected buildings designed by Studio SC, with interiors by SJB.

[smartcode_project:default project_id=8142 project_image_fid=335]

Buyers weren’t prepared to wait any longer to purchase. When it was time to start selling the development, PERIFA and SRM Residential had buyers queuing out of the display suite door. They secured over 40 sales on launch, including several high-end three-bedroom apartments with sales reaching up to $6.9 million.

Demand has been driven largely by local owner-occupiers who have had <a href="https://www.apartments.com.au/developments/rozelle-nsw-2039">Rozelle</a><a href="https://www.apartments.com.au/new-apartments/rozelle-village-rozelle-152-victoria-road-rozelle-nsw-2039"> Village</a> on their radar for some time, many of them already living in apartments and looking to upgrade without giving up lifestyle, walkability, or views.

[smartcode_project:default project_id=8142 project_image_fid=325]

Perilli, Co-Founder and Managing Director of PERIFA and Versatile Group, said the community has had to put up with a derelict site on their doorstep for too long.

“The Balmain Leagues Club in Rozelle, which closed in 2010 to make way for the NSW Government Metro Transport Project, was once a hub for local families to come together and enjoy entertainment and hospitality. We’re delighted to embark on a new era for the site, together with our partners Mitsubishi Estate Asia,"&nbsp;Perilli said.

"Our shared vision for <a href="https://www.apartments.com.au/new-apartments/rozelle-village-rozelle-152-victoria-road-rozelle-nsw-2039">Rozelle Village</a> is to create a mixed-use precinct that is thoughtfully designed and caters to new residents and the community alike. It will be a major meeting place for the community that embraces the unique character of the Balmain/Rozelle peninsula, while helping to shape its next chapter.”

[smartcode_project:default project_id=8142 project_image_fid=326]

The residential offering will cater to downsizers, families, and local owner-occupiers, with an emphasis on larger floorplans, high-quality finishes, and expansive views across Iron Cove, Sydney Harbour, and the Parramatta River.

Residents will have private access to a rooftop pool, taking in the views, a rooftop yoga lawn, and podium level gardens.

[smartcode_project_cta:default project_id=8142]

Joel Robinson

From leagues club to lifestyle precint: Inside Rozelle Village 

Roberts Co has entered a new phase of growth following its acquisition by Arada, one of the world’s fastest-growing property developers in Australia.

The acquisition is supported by a $50 million capital injection into Roberts Co’s Australian balance sheet, consisting of the previously announced $25 million recapitalisation and an additional $25 million in new funding from Arada.

This investment strengthens Roberts Co’s financial position, stabilises operations, and provides the foundation for strategic expansion beyond its New South Wales base, with a focus on new opportunities in Queensland, including the Brisbane and Gold Coast regions.

With Arada’s international resources and financial backing, Roberts Co will broaden its portfolio across residential, commercial, and infrastructure sectors, reinforcing its strong market position in New South Wales and setting itself to capture growth in one of Australia’s most dynamic construction markets.

Ahmed Alkhoshaibi, Group CEO of Arada, said Roberts Co has a proud Australian heritage, an outstanding delivery record, and a strong reputation for collaboration with clients and partners.

"By combining this expertise with Arada’s global scale and financial capacity, we are creating a platform for sustained growth in the Australian market,"&nbsp;Alkhoshaibi said.

“Our $50 million capital injection, including new funds from Arada, underlines our commitment to both stabilise and expand Roberts Co’s operations, particularly into the fast-growing Queensland market. We see significant potential in South-East Queensland’s pipeline and are confident Roberts Co is well placed to deliver lasting value for clients and communities.”

George Kostas, CEO of Roberts Co, said Queensland, and particularly South-East Queensland, is one of the most active and opportunity-rich regions in Australia right now.

"The lead-up to the Brisbane 2032 Olympic Games will bring unprecedented investment across housing, transport, and infrastructure. Roberts Co is eager to play a major role in that transformation and secure a meaningful share of this fast-growing market.”

Arada pours more funds into Roberts Co, flags expansion into South East Queensland construction market

<a href="https://www.apartments.com.au/developments/hurstville-nsw-2220">Hurstville</a> has quietly become one of Sydney’s most resilient property markets. Supported by strong transport links, infrastructure investment and a growing multicultural community, the St George hub continues to outperform much of the metropolitan market for both capital and rental returns.

According to Positus Property Investment, Hurstville now ranks among Sydney’s top performers for yield consistency, underpinned by population growth of nearly five per cent since 2021 and persistently low vacancy rates.&nbsp;

Limited new supply is tightening the market further - new dwelling approvals have fallen from close to 600 to under 200 in FY25, a structural shortfall that’s placing upward pressure on rents and resale values.

[smartcode_project:default project_id=149850 project_image_fid=278]

As one of the final residential stages in the Kempt Field precinct anchored by Woolworths, <a href="https://www.apartments.com.au/developers/the-one-collection">The One Collection</a>'s <a href="https://www.apartments.com.au/new-apartments/horizon-hurstville-6-jack-brabham-drive-hurstville-nsw-2220">Horizon</a> represents a rare opportunity to buy into a location experiencing both infrastructure-led growth and constrained supply&nbsp;- now made even more compelling with a limited-time five per cent deposit and matching rebate incentive.

Positus notes that the suburb’s combination of “relative affordability, low vacancy, and rising population” is creating a recipe for continued rental growth and capital appreciation. Weekly rents are increasing faster than strata and outgoings, with two-bedroom apartments seeing the deepest tenant demand - supporting healthy yield margins even after costs.

[smartcode_project:default project_id=149850 project_image_fid=281]

Horizon prices begin from $668,000, with one, two, and three-bedroom apartments offering flexible entry points for investors.&nbsp;

The project’s location, a short walk to Hurstville Station, Westfield, and an upcoming dining laneway, St Clair Lane, underscores its liquidity and day-to-day convenience.&nbsp;

A 19-minute express train connects residents to the Sydney CBD, while arterial upgrades such as the M6 and WestConnex further enhance connectivity.

[smartcode_project:default project_id=149850 project_image_fid=275]

Designed by <a href="https://www.apartments.com.au/architects/dko-architecture">DKO Architecture</a>, Horizon’s soft, organic façade mirrors the parkland of Kempt Field, while interiors prioritise light, durability, and smart functionality.&nbsp;

Each home features Smeg appliances, smart home automation, and generous balconies overlooking the bay and skyline.&nbsp;

Amenities include a gym, sauna, games room, meditation deck, and landscaped courtyards, with wellness and social spaces designed to foster community.

[smartcode_project:default project_id=149850 project_image_fid=279]

From an investment perspective, Horizon offers what Positus describes as a “value and income sweet spot.” At an average entry price around $745,000 and yields near five per cent, Hurstville units remain roughly $200,000 below comparable inner-west suburbs, allowing investors to capture metro proximity without inner-city risk exposure.

Horizon will deliver 179 one, two, and three-bedroom apartments above St Clair Lane.&nbsp;<a href="https://www.apartments.com.au/builders/masscon">Masscon</a> is on site moving its way up the building, which is scheduled for completion in late 2026, with move-in expected shortly after.

One Collection is currently offering a five per cent deposit incentive for a limited time.

[smartcode_project_cta:default project_id=149850]

Staff Writer

The One Collection opens new investment window at Horizon Hurstville with limited-time incentives

The Gold Coast has cemented its position as one of Australia's hottest construction markets, with crane numbers reaching a record 67 in Q3 2025, the highest count since tracking began.

The latest Rider Levett Bucknall (RLB) Crane Index shows the region at 447 points, also a record, with activity surging 110 per cent over the past three years as population growth and investor confidence drive unprecedented development activity.

Residential construction dominates the skyline almost entirely, accounting for 95.5 per cent of all cranes across the Gold Coast. Of the 67 cranes currently operating, 64 are dedicated to residential and mixed-use apartment projects. 21 new cranes were added in Q3 2025 alone, with major developments spanning Surfers Paradise, Main Beach, Broadbeach, Mermaid Beach and Southport reflecting sustained confidence across the coastal corridor.

[smartcode_project:default project_id=108747 project_image_fid=318625]

The construction boom aligns with exceptional apartment market performance. Gold Coast unit prices reached $950,000 in September 2025 according to the latest Ray White Now Monthly, delivering robust 8.6 per cent annual growth and 0.6 per cent monthly appreciation.

This significantly outperforms the national apartment market average of 6.9 per cent and positions the Gold Coast as Australia's most expensive apartment market, trending ahead of Sydney. This highlights the premium investors and owner-occupiers place on the region's lifestyle amenity.

The scale of residential development reflects both build-to-sell apartment projects targeting owner-occupiers and investors, alongside emerging build-to-rent developments as institutional capital increasingly targets the Gold Coast. Population growth continues driving demand, with the region attracting interstate migrants seeking lifestyle amenity and professionals relocating from southern capitals to embrace coastal living while maintaining career opportunities.

[smartcode_project:default project_id=112941 project_image_fid=216014]

Project activity spans multiple price points and buyer demographics. Premium waterfront developments in Main Beach and Broadbeach command the highest values and attract downsizers alongside investors, while projects in Varsity Lakes and growth suburbs target first home buyers seeking more affordable entry points into the Gold Coast market. The concentration of cranes along established precincts with beach access reflects where buyer demand remains strongest.

Notably absent from the Gold Coast's construction pipeline is commercial office development, with zero commercial cranes currently operating. The only non-residential activity comprises aged care and education. This underscores the Gold Coast's evolution as a residential growth market rather than a CBD destination, with the regional economy built around tourism, construction, lifestyle services and residential property rather than traditional office demand.

The sustained construction pipeline through Q3 2025 suggests apartment completions will remain elevated through 2026, providing necessary supply for the growing population. With development activity at record levels and strong price growth supporting feasibility, the Gold Coast apartment market continues delivering solid returns for developers and investors navigating Australia's shifting property landscape.

Gold Coast construction hits record high as apartment market delivers strong returns

<a href="https://www.apartments.com.au/developers/sherpa-property-group">Sherpa Group</a> is has officially launched its next residential project, the $240 million Symphony in South Brisbane. It marks&nbsp;the group’s entry into the Brisbane market as it expands the Flourish brand to deliver design-forward, fairly priced homes in an undersupplied market.&nbsp;

With 25 out of 138 apartments priced under $1 million, <a href="https://www.apartments.com.au/new-apartments/symphony-south-brisbane-21-23-cordelia-street-south-brisbane-qld-4101">Symphony</a> is expected to attract first home buyers, with Sherpa reserving all one-bedroom and two-bedroom, one-bathroom apartments under $1 million for owner-occupiers and first-home buyers.&nbsp;

Sherpa CEO Christie Leet, said the project is a strategic move to deliver attainable housing in connected, culturally vibrant neighbourhoods, with locals prioritised.&nbsp;

“Our aim with Flourish has always been to help the community,” said Leet.

“That’s why we have chosen to release Symphony to locals first, reserving a portion of apartments for owner-occupiers and first-home buyers to give them a genuine chance to get their foot in the door.”

[smartcode_project:default project_id=7574 project_image_fid=3770]

Located at 21-23 Cordelia Street, <a href="https://www.apartments.com.au/developments/south-brisbane-qld-4101">South Brisbane</a>, Symphony will feature a collection of 138 high-quality apartments, offering spacious one, two and three-bedroom layouts, with prices starting from $655,000.

“It’s no secret that affordability remains a huge issue in today’s market, and many people are simply being priced out,” Leet added.

“We at Sherpa see it as our responsibility to bring well-designed, fairly priced homes to market – that’s what we stand for.”

[smartcode_project:default project_id=7574 project_image_fid=353548]

Residents will have access to a resident rooftop with offers over 1,400 sqm of premium resort-style amenities across two levels. These include a wellness centre with a steam room, sauna, hot and cold plunge pools, a heated pool, as well as pool deck cabanas, private outdoor barbecues, a private dining room, a fully equipped gym, and a yoga room, all with views of the Brisbane skyline and Mt Coot-tha.

Sherpa has also hired a full-time concierge service to assist buyers with the off the plan process, from construction updates, hard hat tours, to showing and helping residents use their appliances once they have moved in.&nbsp;

[smartcode_project:default project_id=7574 project_image_fid=5155]

“Every amenity at Flourish has been designed to help foster a sense of community,” said Danial Clarke, Development and Financial Manager of Sherpa Group.&nbsp;

“The rooftop will be a sanctuary from the city, a place where residents can connect, relax, and ultimately flourish.”

Positioned at the junction of South Bank, West End, and Fish Lane, Symphony offers exceptional walkability to QPAC, galleries, riverside parklands, the CBD, major universities, hospitals, and transport hubs.

Sherpa has already appointed LPS Group to build Symphony. The duo are working together on Sherpa's Palm Beach portfolio.

[smartcode_project_cta:default project_id=7574]

Sherpa officially launches Symphony South Brisbane

Restaurant Sale

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The premises that have been for nearly four decades, Lucio's Italian restaurant in Paddington were pulled from its scheduled mid-week auction, but sold the next day.
The Windsor Street building housing the famous Italian restaurant fetched $3.75 million.
The vendor, Lucio Galletto offered it with a lease back for at least a year at $120,000 per annum, with options for an extension too.
But the local paper advised the buyer intends to rebuild the premises as their home next year.
<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/2020/2/14/LUCIOS%201.jpg" alt="">
Galletto first signed the first lease some 37 years ago.
Galletto first opened Lucios Italian Restaurant in Balmain in 1981 but moved it to Paddington two years later.
It wasn't until 2007 that Galletto bought the freehold of the Federation building from his landlords, for $2.7 million.
The Windsor Street building once housed the Hungry Horse Art Gallery and Restaurant, which served French cuisine.
 
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Lucio's, Paddington premises sold to home buyer

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The longtime Cleveland Street, Surry Hills home of established restaurant Porteño is under contract.
The freehold commercial property at <a href="https://www.realcommercial.com.au/for-sale/property-358-362-cleveland-street-surry-hills-nsw-2010-502951266" target="_blank">358-362 Cleveland Street</a> had been listed for sale last last year.
<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/2019/11/19/Porteno%203.jpg" alt="">
When it was listed earlier this year it had reported $8.5 million hopes.
Porteño now operate their events business from the space, rather than the restaurant, which is now based on Holt Street.
They have a five year x five year lease which began in February 2015 with a net rent of $378,000 + GST.
<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/2019/11/19/Porteno%202.jpg" alt="">
The South American-style fitout has three street frontages across its 430 sqm site.
Prime Commercial agents John Malamas and Darren Kable marketed the property which has sold for the third time in eight years.
It last traded for $6.66 million in 2016.
 
 
 
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jrobinson-rf4aSBido9

Surry Hills home of Porteño sells

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The Teneriffe restaurant and bar space of Streetcorner Jimmy, in the London Woolstore building, has sold at auction for $1.34 million.
The ground floor commercial premises at 36i Vernon Terrace had strong interest from a range of different investor profiles
Bidding began at $1 million, with seven bids taking the final sale price to $1.34 million.
The sale reflected around a 7.3 per cent yield.
“We had more than 65 people enquire about the asset and that culminated in three registered bidders battling it out on the day,” Ray White agent Michael Feltoe said.
<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/2019/9/17/36%20Vernon%20Terrace.jpg" alt="">    "Fundamentally, the investment ticked all the boxes, an unrivalled corner location in a high-traffic area and a landlord friendly lease to a high-quality tenant, who's performing exceptionally well."
The 140 sqm internal area and 75 sqm outdoor space has recently undergone an internal refurbishment, paid for by Streetcorner Jimmy, to create a rustic, urban space.
They restored the unique character features of the building, with complementing modern elements.
Streetcorner Jimmy have a five-year net lease until 2023 with a fixed four per cent annual increase.
They have options until 2034 and are currently paying $98,800 + GST per annum.
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Streetcorner Jimmy premises in Teneriffe sells at auction

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Adjoining Melbourne buildings at 187 and 189 King Street have been sold to investors.
They went for $4.89 million and $5.32 million respectively.
Both were sold by private families who had used the properties for restaurant businesses.
The 187 King Street premises was double a-storey building on 187 square metres of land, sold fully leased to Hanabishi Japanese restaurant.
The double-storey building on the 186 square metre site at 189 King was sold vacant possession.
Generational changes of ownership prompted both sales, CBRE's Alex Brierley advised.
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Hanabishi Japanese restaurant Melbourne premises fetch $4.89 million

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The syndicate headed by the Melbourne restaurateur Guy Grossi has secured around $7.25 million for the Bottega restaurant premises.
The unconfirmed deal for the Bourke Street premises was struck on an estimated 2.9 per cent yield.
The selling price was well above the initial $5 million-plus expectations when it was listed for sale last month.
More than 250 parties inspected the premises, with 15 formal offers, including three parties who travelled from Asia to inspect the property.
The Melbourne CBD building housing Italian restaurant Bottega offered a 254sq m floorplan and 198sq m landholding.
Savills Australia agents Clinton Baxter, Nick Peden and Benson Zhou were selling the property via an expressions of interest campaign.
Marketing it as an “extremely rare CBD freehold investment” with the restaurant recently extending its lease to paying “a modest rental” of $211,940 per year.
Bottega is run by restaurateur Denis Lucey.
Grossi owns the 1880s-built two-storey building with his wife Melissa, sister along with business partner Liz Rodriguez and her husband, Grossi executive chef Chris Rodriguez. 
Grossi, a judge on My Kitchen Rules, and his partners paid $2.375 million in late 2001 for <a href="https://www.realcommercial.com.au/property-retail-vic-melbourne-502772874" target="_blank">72-74 Bourke Street</a>.
Savills Australia agent Clinton Baxter told the Herald Sun the buyer was a local private investor with other CBD property holdings.
“The scarcity of Melbourne CBD properties on the market, particularly below $10 million, is … resulting in significant pent-up demand,” he said.
 
 
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Guy Grossi syndicate sells Bottega restaurant premises 

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The Melbourne CBD building housing Italian restaurant Bottega has been listed for sale.
The vendors including celebrity chef Guy Grossi have expectations above $5 million. Bottega is run by restaurateur Denis Lucey.
Mr Grossi owns the 1880s-built two-storey building with his wife Melissa, sister along with business partner Liz Rodriguez and her husband, Grossi executive chef Chris Rodriguez. 
The two-storey property is at <a href="https://www.realcommercial.com.au/property-retail-vic-melbourne-502772874" target="_blank">72-74 Bourke Street</a>.
Grossi, a judge on My Kitchen Rules, and his partners paid $2.375 million for the building in late 2001.
The property offers a 254sq m floorplan and 198sq m landholding.
Savills Australia agents Clinton Baxter, Nick Peden and Benson Zhou are selling the property via an expressions of interest campaign closing May 9.
Marketing it as an “extremely rare CBD freehold investment” with the restaurant recently extending its lease to paying “a modest rental” of $211,940 per year.
<div id="outstream_holder_news"> </div>
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Bottega restaurant premises on Bourke Street listed

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The Mercado restaurant space in Sydney’s Martin Place precinct has sold for $5.3 million at Burgess Rawson’s portfolio auction.
The trophy retail sale to a Chinese buyer fetched a yield of 4.82 percent.
The shop at <a href="https://www.realcommercial.com.au/property-retail-nsw-sydney-502467362" target="_blank">LG03&amp;04/350 George Street</a> has a land area of nearly 404 sqm.
350 George Street is a refurbished heritage building.
Mercado has a secure lease in place to 2025 with further options to 2035. The lease comes with 4% annual fixed rent increases.  The property earns a net income of $258,053.90 pa + GST.
Chef Nathan Sasi is the mastermind behind the food at Mercado, and his speciality lies in creating everything from scratch. 
The selling agents were Andrew Vines and Darren Beehag of Burgess Rawson.
The property was part of the Burgess Rawson portolio auction held in Sydney in August, which saw 17 out of the 27 properties sell.
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Mercado restaurant space in Martin Place fetches $5.3 million at Burgess Rawson auction 

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A commercial building from where Russian restaurant Nevsky in Melbourne’s Elsternwick operates has changed hands for a sharp 3.7 percent yield.
The sold price of $1.5 million at auction was $200,000 above the reserve.
The <a href="https://www.realcommercial.com.au/property-retail-vic-elsternwick-502553834" target="_blank">476 Glen Huntly Road</a> sold to a local private investor with a three-year lease to Nevsky. There are two more three-year options. 
The property returns nearly $56,257 per annum plus outgoings and GST.
The selling agents were Fitzroys Mark Talbot and Chris Kombi.
The two-storey building has an area of 200 sqm and sits on the 132 sqm site zoned Commercial 1.
Kombi said the property is prominently positioned within the Glen Huntly Road shopping strip, close to Coles supermarket and the Orrong Road intersection. 
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Nevsky, Russian restaurant site in Melbourne's Elsternwick sold for $1.5 million at auction

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A restaurant in Melbourne's Camberwell sold after the auction recorded 290 bids and set a benchmark yield for a retail property in the blue-chip suburb of 2.34 percent.
The sale of the restaurant, Tandoori Den at 261 Camberwell Road, Camberwell to a private investor for $2.509 million reflected a land rate of $12,400sqm.
Fitzroys agent David Bourke said five bidders competed at the auction after the campaign received strong enquiry from local and offshore buyers.
“There is an estimated 1,500 new apartments about to come online or in the pipeline around Burke Road and Camberwell Junction, with a new 12-storey apartment tower near Aerial the latest development to be approved," he said.
The 180sqm part-two storey building is on a 202sqm site and sold with a secure 5+5+5+5-year lease at a building rate of $13,939 per sqm.
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Camberwell restaurant auction nets benchmark yield after 290 bids

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An award-winning restaurant/function centre set on more than 6.88 ha in Olinda, Victoria has sold for $2.5 million through Ray White after a price reduction.
Olinda Tea House, Wedding, Conference Centre and Flower Farm at <a href="https://www.realcommercial.com.au/property-hotel+leisure-vic-olinda-502134650" target="_blank">86 Olinda Monbulk Road, Olinda, Vic 3788</a> is one of the most iconic venues across the Dandenong Ranges, according to the property’s description.
The property's features include a restaurant/function centre with clear-span dining area, commercial kitchen, guest/staff amenities and office facilities.
Designed by Smith + Tracey Architects this eco-friendly and award winning building is oriented to maximize north solar access and views down the valley. Solar panels run along the rooftop for energy efficiency.
Other features include a four-bedroom residence with its own private driveway and gardens. Around an hour's drive from the CBD in one of Victoria's premier tourist precincts.
The flower farm is leased. 
The property was listed in September 2015 for $3.6 million and spent 523 days on the market, according to RP Data.
<div title="Paul Waterhouse">The selling agents were Paul Waterhouse and Stefanie Taylor.</div>
 
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Restaurant Sale

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