Brunswick’s civic heart continues to consolidate around the Merri-bek Arts and Culture Precinct, where a growing cluster of cultural institutions, recreation facilities, and public infrastructure has created one of the inner north’s most defined community hubs.&nbsp;

Within this evolving precinct, <a href="https://www.apartments.com.au/new-apartments/saxon-street-by-milieu-brunswick-31-saxon-street-brunswick-vic-3056">Saxon Street by Milieu</a> introduces new housing directly alongside the civic anchors that shape daily life in the suburb.

At 31 Saxon Street, the project sits immediately beside Brunswick Baths and within moments of Brunswick Library and Town Hall, longstanding institutions that support both community services and everyday amenity.&nbsp;

[smartcode_project:default project_id=136434 project_image_fid=348840]

Next door, the newly delivered Balam Balam Place arts precinct has emerged as a central piece of Merri-bek Council’s cultural strategy, bringing together creative studios, exhibition spaces, maternal and child health services, and community programming in a purpose-built civic facility. Together, these destinations have reinforced the surrounding blocks as a focal point for public life in Brunswick.

This part of <a href="https://www.apartments.com.au/developments/brunswick-vic-3056">Brunswick</a> forms a key pocket within the suburb’s designated Major Activity Centre, where long-term planning has prioritised walkability, civic investment, and increased housing supply close to transport and services. The surrounding street network reflects that strategy, with compact blocks, established retail corridors and active transport links supporting a lifestyle that is largely navigable on foot.

Within a few minutes’ walk, Sydney Road delivers one of Melbourne’s most recognisable streets, known for its long-running mix of independent retailers, international dining venues and everyday convenience. Tram routes along Sydney Road provide frequent connections south toward the CBD and north through Brunswick and Coburg, while Jewell Station on the Upfield line sits within roughly a ten-minute walk, offering direct train access into the city.

[smartcode_project:default project_id=136434 project_image_fid=348839]

Active transport also plays a significant role locally. The nearby Upfield Bike Path forms a key north–south cycling corridor linking Brunswick through Parkville and into the central city, reinforcing the area’s reputation as one of Melbourne’s most accessible inner-urban neighbourhoods for cyclists and pedestrians alike.

The surrounding civic cluster extends beyond cultural infrastructure. Siteworks, a nearby creative hub supporting artists and community organisations, adds to the concentration of cultural activity in the immediate area. Educational institutions such as Brunswick North Primary School, Brunswick Secondary College and RMIT’s Brunswick campus are also within easy reach, contributing to the suburb’s diverse resident base spanning families, students and professionals.&nbsp;

[smartcode_project:default project_id=136434 project_image_fid=348841]

Designed by <a href="https://www.apartments.com.au/architects/jackson-clements-burrows-architects">Jackson Clements Burrows Architects</a> in collaboration with <a href="https://www.apartments.com.au/interior-designers/designoffice">DesignOffice</a> and landscape architects <a href="https://www.apartments.com.au/landscape-architect/oculus">OCULUS</a>, the nine-level building has been shaped to respond to the surrounding streetscape, with lower levels aligning to the street and upper storeys stepping back to soften its scale and improve solar access.&nbsp;

Curved balcony forms reference nearby heritage architecture, while the development’s public realm improvements include a widened footpath along Saxon Street to strengthen pedestrian connections between the precinct’s civic sites.

Sustainability also underpins the project’s approach. The building is designed to operate entirely on electric infrastructure supported by rooftop solar, with an average 7.5-star NatHERS energy rating and EV-charging readiness across the development. Shared resident amenities will include a landscaped rooftop terrace with barbecue and covered dining areas intended to encourage informal interaction between residents.

Saxon Street marks developer Milieu's fifth project in Brunswick and continues its focus on design-led infill housing across Melbourne’s inner suburbs.&nbsp;

Construction has commenced through reputable builder Manresa, who will complete the project in 2027.

[smartcode_project_cta:default project_id=136434]

Joel Robinson

Saxon Street by Milieu connects residents to Brunswick’s cultural and civic core

Within <a href="https://www.apartments.com.au/new-apartments/candela-ivanhoe-40-upper-heidelberg-road-ivanhoe-vic-3079">Candela Ivanhoe</a>, <a href="https://www.apartments.com.au/developers/salter-brothers">Salter Brothers</a>&nbsp;takes a different approach to larger residences, moving away from the constraints of a single level.

In Grand Residence 3.05, known as the Lustre, plays out across two levels, with a mezzanine configuration that is uncommon in apartment living.

Lustre is a four-bathroom residence where the layout creates a clear distinction between shared and private zones, with uninterrupted views toward the Dandenong Ranges extending the sense of openness from the main living areas.

Entry is to the primary living level, where the kitchen, dining, and living areas are arranged as one continuous space. Timber flooring runs throughout, with a fireplace set within the living zone. Full-height glazing brings in natural light, supported by double glazing that improves thermal performance.

[smartcode_project:default project_id=342 project_image_fid=357506]

The kitchen is configured as both a working and social space. A large island bench provides seating, while a walk-in pantry extends storage beyond typical apartment expectations.

Gaggenau appliances, including a 900mm gas cooktop and 600mm oven, are integrated into a layout that connects directly to the adjacent dining and living areas, and outward to the terrace. This balcony includes a built-in BBQ, reinforcing the apartment’s capacity to accommodate larger gatherings without compromising internal space.

A dedicated laundry room, powder room, and a wine cellar area sit discreetly off the main living zone, ensuring that functional requirements are resolved without encroaching on primary living areas. The master suite is also located on this level, designed as a retreat with a walk-through wardrobe and an ensuite that includes double vanities, a bath, and a dedicated dressing table.

[smartcode_project:default project_id=342 project_image_fid=357508]

The mezzanine level introduces a second layer of living, rather than simply additional bedrooms. Two large bedrooms with built-in robes are positioned alongside a central bathroom, while a secondary lounge and study area create a self-contained zone suited to children, guests, or extended family. A large storage room further supports long-term usability, addressing a common shortfall in apartment design.

This separation of levels is central to how the residence functions day-to-day. It allows the lower level to operate as the primary entertaining and living space, while the upper level provides privacy and flexibility. The result is closer in feel to a townhouse or standalone home, but with the benefits of apartment living, security, and low maintenance.

[smartcode_project:default project_id=342 project_image_fid=364553]

Candela is close to 80 per cent complete, with Ironside delivering construction ahead of its expected October 2026 completion. The development comprises 58 residences, with a strong owner-occupier profile and a mix of one to four-bedroom apartments and loft-style townhouses.

Candela has exclusive access to private amenities, including a residential lounge and rooftop terrace. A charming café and a lifestyle wellness centre are located on the ground level, designed to foster community connection and extend the living experience beyond individual apartments without competing with the scale of homes like Lustre.

Candela, positioned in the heart of Ivanhoe Village, reinforces the practicality of the address. With a Walk Score of 90, residents are within immediate reach of cafés, retail, parklands, and Ivanhoe Station, while also benefiting from proximity to established schools and healthcare services.

[smartcode_project_cta:default project_id=342]

Inside Lustre: Grand Residence 3.05 at Candela Ivanhoe

<a href="https://www.apartments.com.au/developers/milieu-property">Milieu</a>’s <a href="https://www.apartments.com.au/new-apartments/elsternwick-gardens-by-milieu-8-gordon-street-elsternwick-vic-3185">Elsternwick Gardens</a> is being shaped around a simple but increasingly rare premise in apartment development: that the built environment should actively support residents’ wellbeing.&nbsp;

Located on the former ABC Studios site on Gordon Street in Melbourne’s south-east, the new neighbourhood sits on an expansive 11,740 sqm site neighbouring the heritage-listed Rippon Lea Estate, whose gardens date back more than 140 years.

Rather than positioning wellness as an add-on amenity, the development integrates it into the physical planning of the site. Architecture by <a href="https://www.apartments.com.au/architects/woods-bagot">Woods Bagot</a> is arranged across six low-rise buildings set within extensive landscaping designed by <a href="https://www.apartments.com.au/landscape-architect/oculus">OCULUS</a>, with more than 40 per cent of the land dedicated to gardens and green space. Walking trails, pocket gardens, and mature trees are threaded between buildings, creating a network of green corridors that encourage residents to move through the precinct on foot and spend more time outdoors.

[smartcode_project:default project_id=136535 project_image_fid=288420]

Milieu has intentionally framed these gardens as an extension of the neighbouring Rippon Lea Estate. More than 16,000 new plants will be introduced across the site, with species carefully selected to protect and complement the area’s ecological significance. The approach focuses on strengthening existing environmental conditions while establishing new habitats that support native wildlife, reinforcing the role of the landscape as both an active ecosystem and a defining element of daily life.

A private resident gate will provide direct access to the historic grounds during opening hours, allowing residents to move seamlessly between the development’s landscaped gardens and the estate’s expansive lawns, lakes, and mature trees. The project’s gardens will also be maintained by the same gardeners responsible for Rippon Lea, reinforcing the visual and ecological continuity between the two landscapes.

Complementing the landscape is a dedicated wellness hub designed to support everyday health and recovery. Residents will have access to a gym alongside yoga and Pilates studios, while mineral pools and infrared saunas provide spaces for relaxation and restorative wellbeing. Shared lounges, workshop spaces, and pet care facilities expand the concept of wellness beyond fitness, creating opportunities for social connection and community interaction within the precinct.

Environmental performance is another key component of the project’s wellbeing focus. Elsternwick Gardens will be entirely fossil-fuel-free, with homes designed to operate on renewable electricity rather than gas. Passive design strategies, including cross-flow ventilation, high-performance insulation, and thermally broken double glazing, are intended to maintain comfortable indoor temperatures while reducing energy demand. Solar photovoltaic systems will power common building services, while rainwater harvesting will help irrigate the extensive landscaping across the site.

[smartcode_project:default project_id=136535 project_image_fid=361030]

Milieu Founder and Managing Director Michael McCormack says the scale and setting of the project allowed the team to take a different approach to urban apartment living.

“This site represents a once-in-a-lifetime opportunity to build something truly special,” McCormack says.

“Through that process, we arrived at a design that centres on a fully realised natural landscape – a series of private, interconnected gardens that encircle the homes and extend seamlessly from Rippon Lea Estate.”

Elsternwick Gardens will comprise three residential offerings, Gordon Place, Ripponlea Terrace, and The Garden Pavilion, each designed for owner-occupiers and shaped around high-quality interior design by Woods Bagot, K.P.D.O., and Flack Studio. The first stage, Gordon Place, includes one-, two-, and three-bedroom apartments designed with a strong focus on indoor-outdoor living and sustainability.

[smartcode_project:default project_id=136535 project_image_fid=288412]

Milieu recently appointed <a href="https://www.apartments.com.au/builders/brady-constructions">Brady Constructions</a> to deliver the project, marking a key milestone for the development. The appointment follows the demolition of the former studio buildings on the Gordon Street site, with construction progressing toward the delivery of the nature-led community.

Situated between the established villages of Elsternwick and Ripponlea, the development balances its garden setting with strong urban connectivity. Residents will be within walking distance of cafés, restaurants, and local retail, while nearby train and tram connections provide quick access to Melbourne’s CBD and the beaches of Elwood and St Kilda.

With construction underway and the first residents expected to move in by early 2027, Elsternwick Gardens represents a growing shift in apartment development toward environments that prioritise wellbeing as much as density or location. By placing landscape, sustainability, and shared spaces at the centre of the design, Milieu is positioning the project as a residential neighbourhood where wellness is not just promoted, but built into the structure of everyday life.

[smartcode_project_cta:default project_id=136535]

Elsternwick Gardens' wellness-first design strategy

Brisbane-based developer <a href="https://www.apartments.com.au/developers/red-co">Red &amp; Co</a> has made a striking debut on the Gold Coast, officially unveiling its $250 million COMO development in Varsity Lakes, a lifestyle-driven residential project anchored by an extensive rooftop wellness and activity precinct.

Having recently launched to market, construction has already been fast-tracked by <a href="https://www.apartments.com.au/builders/5point-projects">5Point Projects</a>, ensuring momentum continues on what is set to become a landmark residential address for the growing Varsity Lakes community.

Located at 22 Lake Street, Varsity Lakes, <a href="https://www.apartments.com.au/new-apartments/como-varsity-lakes-22-lake-street-varsity-lakes-qld-4227">COMO</a> will comprise 156 apartments across 16 levels, comprising one-, two- and three-bedroom residences designed for modern living. However, it is the project’s rooftop amenity offering that sets COMO apart.

[smartcode_project:default project_id=135546 project_image_fid=363510]

Designed as a dedicated wellness and recreation hub, the rooftop will feature a 25-metre lap pool, fully equipped gymnasium, and multiple pickleball and paddleball courts - amenities rarely seen in boutique apartment projects.

Residents will also have access to a sauna and plunge baths, while landscaped gardens and relaxation zones will provide tranquil spaces overlooking sweeping panoramic views across the Gold Coast skyline.

The rooftop precinct has been designed to function as the social and wellness heart of the development, encouraging residents to embrace an active, balanced lifestyle within their own building.

&nbsp;

[smartcode_project:default project_id=135546 project_image_fid=363512]

Red &amp; Co director David Laverty said the amenity offering was central to the project’s design from the outset.

“Amenities were at the forefront of our decisions,” Laverty said.

“Buyers today are looking for more than just an apartment - they want a lifestyle that promotes health, connection and balance.

“The rooftop at COMO has been designed to be the epicentre of that lifestyle, with a suite of wellness and recreation facilities that are quite unique for a boutique development of this scale.”

&nbsp;

[smartcode_project:default project_id=135546 project_image_fid=363514]

Designed by <a href="https://www.apartments.com.au/architects/bda-architecture">BDA Architecture</a>, the residences prioritise liveability, featuring spacious layouts, 2.7-metre ceilings and high-quality finishes throughout.

The development sits beside Bond University, placing residents within walking distance of education, retail and dining options within the vibrant Varsity Lakes precinct, including Robina Town Centre, Varsity Lakes Train Station and a range of leading schools.

[smartcode_project:default project_id=135546 project_image_fid=363511]

Laverty said the location was a key driver behind Red &amp; Co’s decision to bring the project to the Gold Coast.

“<a href="https://www.apartments.com.au/developments/varsity-lakes-qld-4227">Varsity Lakes</a> was a clear choice for us to invest in as it’s a lifestyle hub that seamlessly blends lakeside living with urbanity,” he said.&nbsp;

“Como will capitalize on this great location, delivering a project that not only creates premium homes, but a lifestyle defined by community, wellbeing, and connectivity.”

Red &amp; Co has delivered more than 500 apartments and townhouses across 26 projects in Brisbane in recent years, with COMO marking the company’s first major Gold Coast development.

[smartcode_project_cta:default project_id=135546]

Red & Co unveils amenity-rich Como development in Varsity Lakes

Gold Coast developer&nbsp;<a href="https://www.apartments.com.au/developers/big-projects">Big Projects</a> has secured approval for its second Mermaid Beach project.

The developer, currently selling <a href="https://www.apartments.com.au/new-apartments/the-frederick-mermaid-beach-2265-gold-coast-highway-mermaid-beach-qld-4218">The Frederick in Nobby Beach</a>, has secured approval for its next project just 1.5 kilomnetres up the road.

The new development, dubbed&nbsp;<a href="https://www.apartments.com.au/new-apartments/glenelg-residences-2462-2472-gold-coast-highway-mermaid-beach-qld-4218">Glenelg Residences</a>, has been designed by BDA Architecture and&nbsp;will have just under 100 apartments across an 11-storey building&nbsp;at 2462–2472 Gold Coast Highway, on the corner of Glenelg Avenue just under 300m from the future Mermaid Beach Light Rail stop.

The apartments, a mix of two- and three-bedrooms, will sit above a retail-focused ground plane and under extensive rooftop resident amenities.

<img alt="Exclusive: Big Projects plot Mermaid Beach apartment development, Glenelg Residences" data-entity-type="" data-entity-uuid="" src="https://res.cloudinary.com/dz9xllyip/image/fetch/f_auto,c_limit,w_1440,q_75/https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/field/image/Screen%20Shot%202024-06-11%20at%209.55.04%20am.png?VersionId=z6NV4izeuvhBSSVlY6vK6TPO1LxrFeaG" />

BDA said in its planning submission that the project is intended to support the area’s transition toward higher-density, mixed-use living. “This project offers the opportunity to generate appropriate higher-intensity development within the future Light Rail corridor of <a href="https://www.apartments.com.au/developments/mermaid-beach-qld-4218">Mermaid Beach</a>,” the submission noted.

At ground level, Glenelg Residences will include eight retail tenancies designed to activate the street frontage, complemented by a basement bar offering an additional hospitality element. Above, residents will have access to a rooftop amenity deck featuring an infinity pool, hot and cold plunge spas, day beds, and barbecue facilities.

The architectural approach adopts a restrained material palette of brick, textured concrete, and integrated landscaping, with cantilevered concrete frames and cascading planting intended to soften the built form. BDA described the design as aiming to create “a memorable sculptural mid-rise mixed-use building” that responds to both its coastal setting and urban context.

<img alt="Exclusive: Big Projects plot Mermaid Beach apartment development, Glenelg Residences" data-entity-type="" data-entity-uuid="" src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,dpr_2.0,q_auto:good/https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screen%20Shot%202024-06-11%20at%209.55.45%20am.png?VersionId=cpjIVBqcT_sujmo2UMWkVyLcQ7WGJHaQ" />

The approval comes as the City of Gold Coast continues to plan for significant population growth, with regional targets requiring more than 100,000 new high-density dwellings by 2046.

<section data-scroll-anchor="false" data-testid="conversation-turn-36" data-turn="assistant" data-turn-id="request-WEB:55d7c6ac-8e6d-4881-ad49-0ed9bf66d1cc-17" dir="auto">
Big Projects, led by Matthew and John Barrett, is part of a growing cohort of developers that deliver construction in-house, providing a high level of confidence to prospective purchasers.
</section>

[smartcode_project_cta:default project_id=150260]

Big Projects secures approval for Glenelg Residences in Mermaid Beach

Retail Investment

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An investment property leased to fast-food giant McDonald’s at Norlane in North Geelong fetched $3.05 million at Burgess Rawson's portfolio auction.
Twelve bidders went head to head for the property at the $35 million auction, pushing the yield down to 3.7 percent.
Reflecting strong investor appetite for blue-chip assets on long leases, 400 Melbourne Road was expected to go for more than $2,000,000.
“The low, affordable rental of $117,434 per annum reflects the property being subject to a ground lease with McDonald’s owning the building and all other above ground improvements” said Raoul Holderhead, managing director of Burgess Rawson ahead of the auction.
“With McDonald’s having re-built the building in 2003 and in recent years adding a McCafe, it is safe to say McDonald’s plan is to stay.” 
The lease is for 5 years plus 20 years of options through to 2038 with rental reviews annually to CPI and to market, the next due in 2018 upon the exercise of option.
<a href="https://www.burgessrawson.com.au/3P1137#.ViSSoLSqqko" target="_blank">The 3,277 square metre </a>site with 48 onsite car spaces is almost double that of a normal fast-food outlet.
"The busy and proven location is evident by some 37,000 cars passing the property each day," he said.
The site has been a McDonalds since 1980.
Greater Geelong is a growing regional city of 220,000 plus, predicted to double by 2050, according to the G21 Regional Growth Plan.
Beginning in 1975, Burgess Rawson established a nationwide network of offices and is Australia's largest locally owned and operated commercial property agency, marketing more than 10,000 properties and generating sales in excess of $25 billion over the past 40 years. fro more information, <a href="https://www.burgessrawson.com.au/portfolio-auctions" target="_blank">click here</a>.
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j.ballantyne1990-6AQqhLzZaK

North Geelong McDonald's reaps $3 million at auction

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Four of five tenanted investments in the Noosa region’s new retail development, Shops on Hilton, have sold to local investors after recent strata titling.
Located at 11-19 Hilton Terrace, the development is situated on a busy road linking Noosaville to Tewantin.
Ray White’s Louisa Blennerhassett and David Brinkley have been leasing the properties since it opened for trade in 2019.
“Yields achieved have ranged from 5.7 per cent to 6.2 per cent with buyers recognising the value of a brand-new building in a prominent location,” Blennerhassett said.
According to the agents, enquiry has been “very strong” on the individual tenancies, coming from Queensland, NSW and Victoria.
“We feel that local buyers are witnessing firsthand the strength of the Sunshine Coast and Noosa markets and want to be part of this growth”, Brinkley said.
All tenants at the properties were in the early stages of three to five-year terms, with options, indicating that investors are seeking quality tenants and long-term investments.
“Given low interest rates, yields are tightening to levels we have not seen before”, Brinkley said.
“These results are confirming what we already know - that the Sunshine Coast is on a strong upwards growth curve which certainly has not slowed in recent months”, he said.
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Tenanted investments in Noosa's new retail development attracts local investors

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Beijing surged to top position among Asia Pacific metropolitan commercial real estate investment markets for the first time in the first quarter of 2019. 
The city’s stand-out performance contrasted with most other markets as total investment volume across Asia Pacific slumped by 36% year-on-year (YOY) compared with the same period of 2018.
China’s economic slowdown, its trade tensions with the U.S. and the global downturn in demand for consumer products took their toll on property investment across the region, Real Capital Analytics’ Asia Pacific Capital Trends Q1 2019 report showed.
Investments totaling US$4.5 billion lifted Beijing into pole position in the first quarter, from seventh place in 2018.
Two mega-deals of over US$1.3 billion accounted for more than half of that figure.
Hong Kong was nudged into second place among Asia Pacific metropolitan markets with an investment volume of US$4.4 billion and Tokyo came in third at US$3.9 billion.
"Traditionally, Beijing was considered a government city, more than a major commercial real estate investment target," Petra Blazkova, RCA’s Senior Director of Analytics for Asia Pacific, said.
"Cross-border capital flows, however, appear to be changing the nature of the market and the city is becoming more appealing to institutional investors."
<a href="https://www.propertyobserver.com.au/images/2019/5/21/retail%201.jpg" target="_blank">Click here</a> to enlarge:
<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/2019/5/21/retail%201.jpg" alt="">
Source: RCA 
Beijing was one of only a few markets not included in the general regional retreat.
Overall investment volume slid by 36% in the first quarterly of 2019 to reach US$30.5 billion with Asia Pacific markets struggling to match the elevated pace recorded in 2018.
Blazkova added the markets are comparatively late in the real estate investment cycle and prices look high from a historical perspective.
"Global interest rates, however, remain relatively low and the count of pending deals is substantial in markets such as Hong Kong, China and India," he said. 
"On balance, these factors signal that the outlook for Asia Pacific’s investment markets for the remainder of the year may be more upbeat."
<a href="https://www.propertyobserver.com.au/images/2019/5/21/retail%202.jpg" target="_blank">Click here </a>to enlarge:
<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/2019/5/21/retail%202.jpg" alt="">
Australia’s Retail Investment Market Under Pressure
Real estate investment transactions ebbed in Australia ahead of federal elections on May 18, with deal volume down 27% to US$3.0 billion compared with the same period of 2018. The biggest contributor to the decline was the pull-back in cross-border capital flows.
More broadly, Australia is facing larger challenges with housing prices falling for over a year, led by Sydney and Melbourne.
The retail market too is under pressure, hit by the rise of e-commerce. Discount department stores have been particularly hard- hit amid a wave of shop closures and consolidations.
Blazkova said while the office yield compression in Sydney and Melbourne stopped at or near record lows, more pressure on yields was obvious elsewhere.
"The structural changes ahead of the Australian retail sector have started to impact its pricing," he said.
"Shopping centre yields have moved out by 70 basis points in the last 12 months."
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Australia’s retail investment market under pressure, while Beijing surges: Real Capital Analytics

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An Elsternwick retail investment with potential development opportunity has been listed.
It’s the first time in 50 years the property has been offered for sale.
The 614 square metre property at 1-3 Horne Street has 20 metres of frontage to Glen Huntly Road.
The listing is being handled by CBRE’s Rorey James, Julian White, Nic Hage and JJ Heng.
James said the offering was an attractive proposition fro investors looking for a development prospect.
“This is an exciting opportunity given the asset has been held by the same family for 50 years,” James said.
“The property is well-connected via public transport and is near substantial retail amenity, including the proposed Woolworths development.
“These investment fundamentals should be a very attractive prospect for all buyers.”
Mr White, State Director of CBRE Victorian Development Sites, noted: “We expect solid interest from investors who see value in the three retail shops, together with occupiers wanting to capitalise on this substantial landholding.
“The flexibility of the existing improvements and income allows the site to be land-banked, and we anticipate this will appeal to developers who are taking a long-term position on the market.” 
The site will go to auction onsite on Wednesday December 12 at 12.30pm.
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Elsternwick retail investment hits the market for the first time in 50 years

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A new land rate record has been set in the retail precinct of Church Street, Brighton.
Mark Talbot and David Bourke of Fitzroys sold 67 Church Street (pictured above) for $2.41 million at auction.
The sale price reflected a land rate of $39,000 per sqm.
It sold on a sharp yield of 3.2%.
The property has a two-level 110sqm building with among other leases, a five-year lease to international stationery company Smiggle, part of ASX-listed Premier Investments, which has a $2.5 billion market capitalisation.
The auction campaign attracted more than 90 enquiries from local and offshore investors and owner occupiers.
He said Smiggle has occupied the building for close to 15 years.
Talbot said Church Street, Brighton is a thriving shopping precinct and includes most of Australia’s new and established fashion operators.
Fitzroys research shows Church Street’s vacancy rate tightened to 1.3% over the past 12 months.
“We also received a large volume of interest from owner occupiers looking to give themselves an opportunity in future to operate out of a prized Church Street retail space,” he said.
Talbot and Bourke sold 67 Church Street on behalf of a private family.
Last year, Talbot sold the shop and dwelling freehold at 83 Church Street (pictured below) last year for $3.08 million, at a precinct record yield of 1.9%.
<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/2018/6/27/87%20Church%20St.jpg" alt="">
It marked the first time the property had been offered for sale in 45 years.
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Smiggle, Church Street, Brighton investment sets record commercial land rate

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Two commercial properties on Rozelle's busy Terry Street have sold at auction.
The most expensive property was a 43 square metre space leased to specialist wine merchant Empty Glass, which sold for $700,000 on a 5.41% yield.
They have the lease until 2021, with a five year option to 2026. It rents at $37,856 per annum.
Next doors' property, tenanted by Curti &amp; Co barbershop, sold for $630,000 on a 5.49% yield. They pay $34,611 per annum.
Both properties are located in a near new development and a four percent annual rent increases.
Burgess Rawson agents Michael Gilbert and Dean Venturato sold the properties at auction on Tuesday.
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jonathanchancellor-7SQnKwU6yx

Empty Glass, Rozelle retail investment premises sell

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The family of the bankrupted property developer Salim Mehajer has sold their shops in Auburn.
The shops at <a href="https://www.commercialrealestate.com.au/property/84-auburn-road-auburn-nsw-2144-2014257827" target="_blank">84 Auburn Road</a> sold for $2,175,000 through Joe Salah at CIA Real Estate Auburn.
It last traded for $801,000 in 2011.
The Mehajer family’s butcher shop and gift shop suffered about $100,000 fire damage in 2015.
Shop 1 is currently leased as butcher until 2020 with a rental income of $26000 per year.
Shop 2 is currently leased as gift ware until 2020 with a rental income of $30000 per year.
The two shops are sitting on a 613 square metre block of land, located on the main road of Auburn just opposite of Auburn public school.
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Mehajer family sell Auburn shop for $2.175 million

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A freehold retail investment that is securely leased has sold for nearly 30 percent over reserve at its auction.
The <a href="https://www.commercialrealestate.com.au/property/42-mount-eliza-way-mount-eliza-vic-3930-2013962477" target="_blank">Mt Eliza Way property</a> attracted a crowd of over 60, with four bidders pushing the price to $970,000, some $220,000 over reserve.
It sold on a tight 2.9 percent yield.
<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/2018/2/9/eliza2.jpg" alt="">
The 120 sqm open plan and self-contained property sits on a 147 sqm site with nearly five metres frontage to Mt Eliza Way.
It was sold subject to a three year lease to Master Hair &amp; Beauty at $31,930 per annum.
Teska Carson marketing agents George Takis and Luke Bissett marketed the property.
Takis said the sale was yet another example of the very strong market for strip retail assets despite some negative market commentary around retail sales and the potential impact of Amazon.
"There is a huge thirst for retail strip property and particularly in precincts that are well organised, that are backed by local governments, and that offer a contemporary tenancy mix that reflects current trends.
"In this particular instance we also had an asset that sits within an area that has been very popular with investors recently."
 
 
 
 
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jrobinson-rf4aSBido9

Strong auction sees Mount Eliza retail sell for 30 percent over reserve

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A well-known cafe in Sydney’s leafy suburb of Northbridge is up for auction. 
The cafe at <a href="https://www.realcommercial.com.au/property-retail-nsw-northbridge-502624078" target="_blank">1/160-162 Sailors Bay Road</a> has been in place since the building was completed in 2013.
It will go to auction on November 30 with expectations of $675,000 to $725,000 excluding GST.
The shop earns a net income of $46,255.56 + GST.
The tenant is on a three-year lease with two five-year options. 
It has a strata area of 25 sqm. 
The building has been converted into a boutique development of just 12 apartments.
It is being marketed by Tom Doran of Doran Commercial.
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Cafe space in Sydney's Northbridge set to go under the hammer

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There is no relief on the horizon for the muted retail industry due to tough economic conditions and investment risks in the sector are higher, according to forecaster BIS Oxford Economics’ latest report.
A soft economy, weak household income growth and subdued consumer spending will continue for some years, while Amazon’s entry will only add to the challenges to Australian retailers and shopping centres, says Retail Property Market 2017 to 2027. 
“While the spectre of large scale shop closures, declining retail employment and abandoned shopping centres that we see in the US is unlikely to be repeated to the same extent in Australia, the risks associated with retail property investment are arguably higher than at any time in the past,” it says. 
Returns are expected to vary significantly from centre to centre, while some will fail, it cautions. 
Report author Maria Lee observed that the retail environment remains challenging against the backdrop of a difficult economic transition—away from an economy underpinned by a resources boom and back to more broadly balanced growth. 
“This is proving to be a long, hard slog. We expect retail expenditure to remain muted for the next three years,” she said. 
Shopping centres will struggle to match the pace of aggregate turnover growth due to heightened competition from additional retail floorspace and the continued growth of online sales—now given fresh impetus by the expansion of Amazon. 
Other challenges in converting turnover growth to additional centre income include over-rented shops, high leasing incentives, poorly performing anchor tenants and pressure on retailer profit margins. 
In addition, changing consumer spending patterns means centres must constantly be reinvigorated — and this involves spending money, it concludes.
“We forecast shopping centre net income growth to barely keep pace with inflation over the next five years, with probably more downside than upside risks to those forecasts” says Lee. 
On a positive note, however, BIS Oxford Economics said retail property remains in high demand among investors, with the dollar value of transactions seemingly held back only by a lack of stock for sale. 
Meanwhile, existing owners are pumping large sums of money into (often defensive) refurbishment/expansion projects. Competition for assets is driving yield compression, thereby boosting centre values and total returns. Average yields for regional, sub-regional and neighbourhood centres are all below pre-GFC levels. 
“We can’t see much further yield firming from here. If anything, the main risk is in the opposite direction” said Lee. 
Putting income and yield forecasts together, BIS Oxford Economics forecasts modest IRRs of below 7% over a five-year investment horizon, with considerable variation from centre to centre. 
Some centres are at risk of losing anchor tenants and/or specialty retailers and will underperform. Even for stronger centres, Lee notes that “even experienced shopping centre managers may have trouble in dealing with what are arguably the toughest conditions yet in retail property investment.” 
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