Family-owned builder and developer <a href="https://www.apartments.com.au/developers/omaya">Omaya</a> is bringing its 27-storey The Maybelle development to market, with the 229-apartment tower rising alongside Ismay Reserve near North Strathfield.

<a href="https://www.apartments.com.au/new-apartments/the-maybelle-21-parramatta-road-homebush-nsw-2140">The Maybelle</a> will comprise one, two and three-bedroom apartments, with its height providing elevated outlooks towards the Sydney skyline and Harbour Bridge, while other residences will look across neighbouring Ismay Reserve.

Designed by <a href="https://www.apartments.com.au/architects/squillace-architects">Squillace Architects</a>, the tower combines its parkside setting with proximity to the established retail, dining and transport amenity around North Strathfield.

[smartcode_project:default project_id=134873 project_image_fid=376196]

Residences will feature open-plan living spaces and a choice of two interior schemes, while communal amenity is spread across two elevated levels of the building.

Level 8 will be home to the Garden Pavilion, a full-floor resident space incorporating communal entertaining and breakout areas, seating and recreation spaces. Further up the tower, a landscaped Sky Terrace on Level 14 will provide another communal area with panoramic views towards the Harbour Bridge and Sydney skyline.

At ground level, the development sits directly alongside Ismay Reserve, where lawns, walking paths, children's play areas, picnic spaces and recreational facilities extend the green space available immediately around the project.

[smartcode_project:default project_id=134873 project_image_fid=376194]

The Maybelle is also within walking distance of North Strathfield and the Bakehouse Quarter, which provides a mix of cafés, restaurants, shops and everyday services.

Existing rail and bus services provide connections across Sydney, while the future North Strathfield Metro and access to the M4 will add to the transport options available around the precinct. Walking and cycling routes also extend via Powells Creek towards Sydney Olympic Park and its sporting, entertainment and parkland precincts.

Families are also well positioned for access to a broad selection of established schools and education options across Strathfield and the surrounding Inner West.

[smartcode_project:default project_id=134873 project_image_fid=376181]

Omaya has operated in Sydney for more than 35 years, managing projects from acquisition and design through to construction and delivery. The family-owned company is both developer and builder of The Maybelle.

Apartments start from $560,000, with the development protected by 10-year Latent Defects Insurance.

Construction is well underway, with completion expected by the end of 2026 and move-in anticipated from Q1 2027.

[smartcode_project_cta:default project_id=134873]

Joel Robinson

The Maybelle brings 27-storey parkside tower to market near North Strathfield

Melbourne developer <a href="https://www.apartments.com.au/developers/pdg-corporation">PDG</a> has unveiled its vision for the former Water Tank Site in Ivanhoe, which would see it transformed into a thriving residential neighbourhood, complete with a 2000 sqm public park.&nbsp;

Delivered in partnership with <a href="https://www.apartments.com.au/developers/development-victoria">Development Victoria</a>, the proposal would transform the prominent corner of Bell Street and Upper Heidelberg Road into a connected community comprising two residential buildings, generous public open space and shared amenities.&nbsp;

The vision includes 287 one, two and three-bedroom apartments, with a minimum of 10 per cent allocated to affordable housing, alongside a 2,000-square-metre publicly accessible park featuring a children's playground, activity lawn, indigenous planting, timber climbing logs, seating areas and a rock gathering circle.&nbsp;

Designed by <a href="https://www.apartments.com.au/architects/dko-architecture">DKO Architecture</a>, the proposal draws on the site's industrial heritage, using a robust architectural language that references the former water tank through expressive structural elements and durable, self-finished materials.&nbsp;

Extensive landscaping has been woven throughout the development, creating a living landscape that strengthens connections to nature while responding sensitively to the surrounding neighbourhood. Two residential buildings ranging from three to 12 storeys are linked by a landscaped forecourt, creating a welcoming arrival experience and improving pedestrian connections through the site.&nbsp;

Residents would also enjoy more than 1,000 square metres of communal open space, including barbecue and dining facilities, vegetable gardens, landscaped seating pavilions and a dedicated coworking space.&nbsp;

PDG Founder and Managing Director Vince Giuliano said the vision reflected an opportunity to transform one of Ivanhoe's most recognisable sites into a place that balanced housing, community and landscape.&nbsp;

"This is an opportunity to reimagine an important site and create a neighbourhood that delivers lasting benefits for Ivanhoe," Giuliano said.&nbsp;

"We're creating much more than new homes. The vision brings together affordable housing, quality architecture, meaningful public open space and shared places that encourage people to connect, while respecting the site's history and its place within the local community."&nbsp;

Development Victoria’s Executive General Manager Precincts, Niall Cunningham, said the application is an important step for the government-owned site.&nbsp;

“This is about delivering more homes in a well-connected location, along with public open space that the Ivanhoe community will benefit from for years to come,” Cunningham said.&nbsp;

PDG was selected as development partner in late 2025 following a competitive tender process.&nbsp;

A planning submission for the project is currently being progressed through the Victorian Government's Development Facilitation Program, with positive early engagement from both Banyule Council and the Department of Transport and Planning.

PDG unveils plans to transform landmark Ivanhoe Water Tank Site

Shane Wilkinson's <a href="https://www.apartments.com.au/developers/pace-development-group">Pace Development Group</a> has lodged plans for a major residential precinct on the former Presentation College site in Windsor, with an eight-building masterplan ultimately rising to 10 storeys.

The proposal at <a href="https://www.apartments.com.au/new-apartments/167-dandenong-road-windsor-vic-3181">167–187 Dandenong Road</a> spans a substantial 19,027 sqm site and is being progressed across six stages, with the first residential stages comprising 170 homes across four buildings designed by <a href="https://www.apartments.com.au/architects/cera-stribley-architects">Cera Stribley</a>.

Stage Two will deliver the bulk of the initial housing, with Building A comprising 81 apartments and Building B 49 apartments, both rising to six storeys.

Stage Three will deliver a further 40 homes. The heritage Nagel Building, identified as Building C, will be converted to 12 dwellings, while a new five-storey Building D will comprise 28 apartments at the Hornby Street and Dandenong Road corner.

The 170 homes across Stages Two and Three will include a mix of one, two and three-bedroom apartments, including townhouse-style dwellings.<img alt="First look: Pace plans landscaped housing precinct on former Windsor school site" data-entity-type="file" data-entity-uuid="83c56e3e-dfb9-4e12-b172-c3f18513ec32" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Article%20Feature%20Image%20%28Grid%29_9.png?VersionId=xRcRpSZsxX.UX_NDDGcRZktw7HVrzx7u" />

&nbsp;

The longer-term masterplan points to considerably greater density across the site.

Indicative plans show Building E accommodating around 80 dwellings across up to 10 storeys, while Building F is earmarked for around 120 dwellings and also up to 10 storeys. Building G is planned to range between four and 10 storeys, however its apartment yield is yet to be determined. That means the masterplan currently identifies at least 370 dwellings across Buildings A to F before any apartments within Building G are counted.

Across the 1.9-hectare site, that represents an indicative density of at least 194 dwellings per hectare, with the final figure to increase once the yield of Building G is established.

Pace is pursuing the project through the Victorian Government's Development Facilitation Program, with Urbis lodging a combined Section 96A planning scheme amendment and planning application on behalf of the developer, which secured the site earlier this year.

The application seeks detailed approval for Stages One, Two and Three, alongside approval of the broader masterplan framework that will guide the later residential stages. Stage One will see an existing heritage building adaptively reused for a wellness and fitness-related facility, while the broader precinct will retain several significant heritage buildings and established trees as part of the redevelopment.

A minimum 10 per cent affordable housing contribution is proposed across both the initial residential stages and the later masterplan stages, delivered through a discounted rental model.

The project comes immediately after a major change to the site's planning controls.

The site was rezoned to the Housing Choice and Transport Zone through Planning Scheme Amendment GC285, gazetted on July 22, 2026, and now sits within the inner catchment of the Windsor Station precinct under the State Government's Train and Tram Zone Activity Centres Program.

While the new controls identify large sites within the inner catchment for buildings of up to six storeys, Pace's masterplan pushes height to 10 storeys in parts of the site, with the taller buildings concentrated toward the centre and along the Sandringham railway corridor.

Lower-scale built form is proposed toward the site's more sensitive residential and heritage edges, with Buildings A and B generally stepping from three storeys at their interfaces to six storeys at upper levels.

Cera Stribley's masterplan breaks the development into a collection of separate buildings rather than a continuous built form, with landscaped spaces, new pedestrian links and a new publicly accessible road forming part of the precinct.

The planning report says the development will create new pedestrian connections to Elm Place and along the railway corridor, as well as a new publicly accessible road linking Elm Place with Dandenong Road. The proposed buildings will occupy around 54 per cent of the site, leaving a substantial portion available for landscaping, communal areas and permeable surfaces.

Urbis said the scale of the project reflected the site's strategic location close to Windsor Station, tram services and the Chapel Street Activity Centre, with the former school campus identified as a significant opportunity to increase housing supply on an underutilised inner-Melbourne site.

&nbsp;

First look: Pace plans landscaped housing precinct on former Windsor school site

<a href="https://www.apartments.com.au/developers/jl-place">JL PLACE</a>'s Veil Brighton is approaching its final months of construction, with the nine-townhouse development at 17 Rooding Street expected to complete in December 2026.

The milestone is bringing the boutique project closer to becoming a finished part of the <a href="https://www.apartments.com.au/developments/brighton-vic-3186">Brighton</a> streetscape, with much of Brighton's everyday amenity within a short walk.

Palace Cinema, Coles Supermarket and North Brighton Station are all around five minutes on foot from <a href="https://www.apartments.com.au/new-townhouses/veil-brighton-17-rooding-street-brighton-vic-3186">Veil</a>, alongside numerous cafés, restaurants and bars. The station provides a direct rail connection toward Melbourne's CBD, while Bay Street and the wider Brighton retail and dining network add to the range of services accessible without relying on a car for every trip.

"The location was fundamental to the project. Brighton is an established suburb where many buyers already have strong connections to the area and want to remain close to the people, places and amenities that form part of their everyday life," the developer said.

"Veil sits in a highly walkable part of Brighton, with a Walk Score of 90/100."

For buyers looking to right-size within Bayside, that level of walkability adds to the appeal of a more manageable way of living. Everyday shopping, dining, entertainment and public transport can be accessed without relying on the car for every trip, while residents remain connected to the places and routines that make Brighton familiar. It allows buyers to simplify day-to-day life without giving up the convenience, amenity and connections they already value.

[smartcode_project:default project_id=7877 project_image_fid=355754]

As completion approaches, the architecture, landscaping and material palette are progressively becoming visible on site, giving prospective purchasers a clearer view of the finished development beyond its plans and renders.

Veil comprises nine townhouses, predominantly three-bedroom homes with between 2.5 and 3.5 bathrooms, two car spaces and, depending on the residence, study areas and private outdoor space. Selected homes include a bedroom on the ground floor.

Veil occupies a middle ground between detached housing and apartment living, retaining private gardens, storage and secure parking within a more manageable residential format.

<a href="https://www.apartments.com.au/architects/schmidt-pang-architects">Schmidt &amp; Pang</a> designed the architecture around natural light, ventilation, privacy and practical use of space. From Rooding Street, the façade has been composed to read as a cohesive residential building rather than nine individual townhouses, with landscaping by <a href="https://www.apartments.com.au/landscape-architect/john-patrick-landscape-architects">John Patrick Landscape Architects</a> integrated throughout the site.

Inside, natural stone, oak flooring, integrated joinery and brushed nickel finishes establish a restrained material palette, while kitchens include Miele appliances and substantial storage such as pantries. Walk-in robes and dedicated study spaces have also been incorporated across the collection.

[smartcode_project:default project_id=7877 project_image_fid=355852]

The project team said the planning of the homes has been informed by how the spaces function for both daily routines and larger gatherings.

"Our new homes owners at Veil have enjoyed the attention to detail in creating efficient layouts that use every space well. Hosting Christmas lunch and large family gatherings is an ease when care is taken to consider how people really live and entertain."

Private landscaped gardens extend the living spaces outdoors, while secure basement parking and bicycle parking are provided below. The homes have also been designed to achieve a 7-star energy rating, supported by double glazing, high-quality insulation, natural ventilation, LED lighting, water tanks and water-efficient fittings. Each residence is backed by a 10-year building guarantee.

Veil is being built by <a href="https://www.apartments.com.au/builders/jeniton">Jeniton</a>.&nbsp;Limited-time stamp duty savings are also currently available on selected purchases at Veil, adding another consideration as the project moves toward completion.

[smartcode_project_cta:default project_id=7877]

Veil Brighton nears completion in one of the suburb's most walkable pockets

<a href="https://www.apartments.com.au/developers/mosaic-property-group">Mosaic Property Group</a> has recorded 134 sales worth just over $400 million in two months of pre-release activity at The Riversdale, as the developer brings its $750 million South Brisbane riverfront project to the broader market.

The sales represent more than 60 per cent of the project's 213 apartments, with Mosaic reporting the majority of purchasers have been local owner-occupiers and downsizers.

<a href="https://www.apartments.com.au/new-apartments/the-riversdale-by-mosaic-south-brisbane-91-montague-road-south-brisbane-qld-4101">The Riversdale</a> will rise 39 storeys from its north-facing site at 91 Montague Road, delivering a mix of two, three and four-bedroom apartments alongside a collection of Mosaic's premium Masterpiece Series Sky Homes.

[smartcode_project:default project_id=151614 project_image_fid=371872]

The early buyer response comes ahead of the wider evolution of the northern end of Montague Road, where The Riversdale will be one of the first major residential projects delivered within an emerging riverfront precinct.

Directly adjoining the development is a planned 7.1-hectare mixed-use precinct, set to introduce new residences, parkland and public realm along the river's edge. The Riversdale's position directly on the Brisbane River gives it a relationship with the waterfront that Mosaic says cannot be replicated by future buildings within the precinct.

The site is also the result of a years-long pursuit by Mosaic. The developer first earmarked the <a href="https://www.apartments.com.au/developments/south-brisbane-qld-4101">South Brisbane</a> property in 2018, reflecting what Founder and Managing Director Brook Monahan has described as a deliberately patient approach to acquiring development sites.

[smartcode_project:default project_id=151614 project_image_fid=372083]

"We aren't opportunistic," Monahan previously told Apartments.com.au.

"Every site purchase is carefully considered. As seen with Kangaroo Point and South Brisbane, it can take years to eventuate. There are sites we're looking at now that we may not secure for several years."

Designed in collaboration with <a href="https://www.apartments.com.au/architects/bureauproberts">Bureau Proberts</a>, The Riversdale has been shaped around the qualities of the riverfront site, with apartments oriented to capture northern light and uninterrupted Brisbane River views.

Generous floorplans and expansive balconies extend the living spaces towards the river, while natural materials and a restrained interior palette have been selected with longevity in mind.

[smartcode_project:default project_id=151614 project_image_fid=371890]

Residents will have access to a level of amenity more commonly associated with world-class hotels and private members' clubs, with almost 3,000 sqm dedicated to wellness, connection, recreation and everyday convenience.

At ground level is a business lounge, private meeting rooms and dedicated workspaces. Mid-tower is a wellness sanctuary featuring magnesium hot and cold plunge pools, sauna, steam room, infrared therapy facilities, a Pilates and yoga studio, and a commercial-grade gymnasium.

Crowning The Riversdale is a rooftop featuring a 35-metre swimming pool with lap lane and spa, outdoor dining and seating terraces, firepit lounges and views of the city, river and Mount Coot-tha.

A private members' club-inspired retreat offers private dining rooms, a whisky lounge, media rooms and immersive entertainment experiences. Completing the amenity offering are two hotel-style guest suites and a resident-exclusive electric vehicle fleet and car-share program.

[smartcode_project:default project_id=151614 project_image_fid=371877]

The Riversdale sits at the northern end of Montague Road between South Bank and West End, around 1.3 kilometres from the Brisbane CBD, providing access to the city's major cultural, dining and recreation precincts.

It becomes Mosaic's largest Brisbane project to date and adds to a pipeline already under construction across the city.

In Brisbane, the developer is currently delivering The Bedford and The Carter at Kangaroo Point, both of which are approaching sell-out, with a further four projects being delivered on the Gold Coast. Mosaic has completed more than $2 billion in projects since 2012 and has a further development pipeline exceeding $2 billion across South East Queensland.

Early works are underway at The Riversdale, which will be delivered by Mosaic's in-house construction division. Completion is anticipated in late 2029, with remaining apartments priced from $1.98 million.

[smartcode_project_cta:default project_id=151614]

Mosaic records more than $400m in two months at South Brisbane's The Riversdale

Retail Investment

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Retail investment for Q1 2017 totalled $1.1bn, up 23 percent on the same period last year according to Cushman &amp; Wakefiled's Retail Investment Snapshot for the quarter.
According to the report Queensland accounted for 43 percent ($457m) of the national investment volume. 
"In contrast, New South Wales and Victoria recorded $262m and $221m, both below respective longer- run averages, as limited available stock was on the market," the report said.
"Foreign investment rebounded strongly in Q1 2017 to $533m, up from $297m in Q4 2016.
"Foreign investors were active across different centre types and sizes. This was highlighted by German- based Deka Immobilien’s purchase of the Canberra Outlet Centre for $135.5m, with a further $160m committed to a Redbank Plains sub regional centre by Rockworth Capital Partners, and $87m into two neighbourhood centres.
"With a lack of activity in larger core retail assets, where yields are tighter, average transaction yields remained stable for the quarter at 6.3 percent.
"Many of the trends evident in 2016, such as retail property’s relative value proposition and competition to secure assets, remain in place into 2017.
"However, we expect more stock to come to market as established owners sell non-core assets to recycle capital into existing assets. Equally, active traders are likely to dispose of assets to seek new opportunities.
"Not only will this bring increased liquidity, and support overall transaction volumes, but also provide opportunities for new market entrants all along the risk curve. 
"In December 2016, Moving Annual Turnover (MAT) grew 3.4 percent, though continued the downward trend from a peak of 5.7 percent in late 2014.
"Retail turnover growth has been limited by weak employment and income growth though consumer sentiment has bounced back to 99.6 reflecting a more positive attitude towards national economic growth."
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jonathanchancellor-7SQnKwU6yx

Retail investment for Q1 2017 totals $1.1b: Cushman & Wakefield

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A standalone retail investment with redevelopment potential in Melbourne’s affluent south-east suburb of Mount Waverley has sold at auction for a yield of 2 percent yield.
The property at 6 Andrew Street fetched $616,000 at the on-site auction — well above the reserve price — and was snapped up by a local investor.
The selling agent was Paul Rizzo of Ray White Commercial Oakleigh.
Rizzo said the sale price was more than $160,000 above the vendor’s reserve.
“Boasting an exceptional tenant, this secure investment property trading as a laundromat is currently returning rent of $12,622 per annum on a long-term lease,” he said.
The building is on a land area of 188 sqm with potential for further development subject to council approval.
“Mount Waverley’s rising status as one of Melbourne’s fastest growing and prestigious south-eastern suburbs ensured this property appealed to a range of buyers.”
The five-year leased commenced in 2014 with two further five-year terms. The property was on the market for 39 days, RP Data showed.  
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/05/22/MountWaverley1.jpg" alt="">
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Mt Waverley retail property sells above reserve at 2 percent yield

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A retail property in Melbourne's Royal Arcade is on the market for the first time in 30 years with price expectations above $30 million.
The property, 331-339 Bourke Street is currently tenanted by Bankwest and is the first Bourke Street Mall sale listing since 2004.
Colliers International’s Oliver Hay, Daniel Wolman and Matt Stagg have been appointed to the international expressions-of-interest campaign, closing Wednesday, April 26.
Mr Hay said the shopfront was anticipated to fetch more than $30 million, with its sale signalling the first transaction in the sought-after shopping strip for about 13 years.
“Bourke Street Mall has long been considered the ultimate address for an Australian trophy asset,” he said.
 Expressions of interest for Royal Arcade’s Bankwest shopfront in Bourke Street Mall close on April 26 at 3pm.
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Shopfront in Melbourne's Bourke Street Mall listed for sale

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The Australian retail investment market is expected to maintain its strong run in 2017 as retail property’s relative value proposition continues.
In 2017, investor demand is likely to remain buoyant while liquidity should increase as more stock is brought to market and the spread between bond and property yields contracts, according to the latest Australia Retail Investment Outlook Report released by Cushman &amp; Wakefield.
Nick Potter, Head of Retail Investments Australia and New Zealand commented: “Australian retail property as a whole remains an attractive investment proposition given the relatively wide gap between the cost of debt and returns on offer.
While we expect this to support further yield compression, it will be more modest than seen over the past year.”
The report reveals that the Australian retail sector is being buffeted by cyclical and structural changes, which will provide opportunities for retailers and landlords alike.
Shorter term changes in the economy and financial markets are influencing spending and investment patterns, while longer term shifts in demographics and technology are changing the way the population live and shop.
Economic, employment and income growth are all forecast to remain positive, though sub-trend, and retail sales should remain in line with this with moving annual turnover (MAT) growth in 2017 of 3-4%.
Variations in retail expenditure between state and territories should narrow as state economic growth moves through different points in the cycle.
Investment transaction activity remained buoyant in 2016 at $7.2bn, with strong support of $1.6bn provided by CBD retail centre transactions.
While total volume declined 14% year-on-year, this was more a reflection of a lack of available stock for purchase.
Looking ahead, investor demand is expected to remain strong in 2017, though more stock is expected to be brought to market, increasing liquidity, which will support investment volumes.
Nick Potter noted: “We expect institutional owners to continue to dispose of non-core assets, such as sub-regional centres in non-metropolitan locations.
Active traders are also likely to offer repositioned assets for sale as they seek new opportunities.
Overall, this will provide opportunities for purchasers all along the risk curve. As a result, heightened liquidity is projected for 2017.”
Structurally, longer term changes are evident as the Australian lifestyle shifts away from large weekly food shopping, towards daily food purchases and increased consumption of prepared meals.
At the retailer level, this evolution has driven development of new “fast dining” options to meet a growing consumer need.
Landlords and developers have used these changes to increasingly pursue mixed use projects and secure “highest and best” site usage.
“With a significant drop in retail centre based floor space per capita, limited green field retail development opportunities and shift towards daily rather than weekly food shopping, mixed-use retail continues to emerge as a major category in Australia’s retail landscape" Nick Potter said.
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j.ballantyne1990-6AQqhLzZaK

Liquidity to increase in 2017 in buoyant retail investment market

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One of the most significant retail assets on Brisbane’s bayside, the Horizon @ Wellington Point shopping centre, is being offered for sale by Ray White Commercial in conjunction with JLL.
The major investment opportunity at 685 Old Cleveland Road East, Wellington Point, is a fully tenanted shopping centre, which opened in December 2010.
It is anchored by an IGA Supermarket and 19 other retail and medical tenancies.
Horizon @ Wellington Point is a successful retail/medical complex which currently has 100% occupancy.
Offers close November 24 with Ray White Commercial Bayside agent Nathan Moore and JLL Retail Investment QLD’s Jacob Swan and Campbell Bowers.
The shopping centre returns net rental income of approximately $1.25 million per annum.
Swan said Horizon @ Wellington Point is situated on a land area of approximately 6,099 square metres with a local centre zoning from Redland City Council in an emerging growth centre of South East Queensland.
There is 2,616 square metres of nett lettable area in three buildings and prominent signage opportunities.
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Horizon @ Wellington Point shopping centre for sale

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CVA Property Consultants have sold a retail investment at Craigieburn Plaza.
The 310 sq m space fetched $1,450,000 when sold to a local investor.
The premises is leased to Bottle-O Steve’s Liquor on a four by four year term.
It has a rental return of $80,000.00 per annum plus GST net, representing a yield of 5.5 percent.
The shop comprises a frontage of 10 meters, walk in cooler, storeroom and rear access with loading facility next door to Woolworths.
Bakers Delight, NAB, Subway and Priceline share car parking of approximately 300 car spaces.
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Craigieburn Plaza Bottle-O premises sold at $1.45 million

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A securely leased retail investment in Melbourne's popular inner-eastern suburb Prahran is expected to sell for in excess of $2.5 million.
Available through Teska Carson, the <a href="https://www.realcommercial.com.au/property-retail-vic-prahran-502086482" target="_blank">254 Chapel Street and 4 King Street</a> property comprises two retail tenancies totalling 257 sqm.
It forms part of the Vicino Apartments building, a double storey mixed used development with ground floor retail and apartments on the upper levels.
The properties are currently used by Sister of Society, who operate a bar/function space at the Chapel Street site and uses King Street for storage and office use.
The Sisters have a five year lease with two, five year options at current rental of $150,000 per annum with four percent annual increases.
Marketing agents George Taki and Fergus Evans suggest the property presents an exceptional opportunity for investors to acquire a securely leased asset situated on one of Melbourne’s premier retail strips.
"Rarely do properties of this calibre with such a strong lease covenant become available in what is a very tightly held and very popular retail strip," George said.
The property will be auctioned October 14 on site.
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Chapel Street retail to fetch $2.5 million 

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A securely leased retail investment in Brighton, Victoria is expected to fetch $2 million.
The shop at 4/10 Church Street is currently leased to hair salon chain Toni &amp; Guy at $92,472 per annum on a five year lease.
It comprises a 122 sqm retail space which forms part of retail and residential complex. There's also five car spaces and two street frontages.
Available through Teska Carson agents George Takis and Michael Ludski, the property is set for September 2 auction.
George said the location of the retail space is key to the sale.
"Church Street is renowned Australia wide for its broad cross section of retail offering which includes Coles and Woolworths, Witchery, Flight Centre, Country Road, Sportsgirl, Nike and the major banks, among many others, along with its intimate village atmosphere."
He said in recent years Brighton had emerged as one of the most sought after bayside residential locations in Melbourne with many new developments contributing to the vibrant local community.
"The area also attracts a large volume of visitors annually captivated by its cosmopolitan feel and the numerous and diverse retail and entertainment precincts, including those located in Church and Bay Streets."
"This combination of factors, along with forecast population growth, offers exceptional potential for businesses and future development in the area,’’ he said. 
 
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Sought-after Brighton, Victoria retail asset offers secure lease

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Two shops in Sydney's prime eastern suburbs went under the hammer at Burgess Rawson's 103 portfolio auction recently.
Both shops 1&amp;2 and 3 at 50 Bayswater Road, Rushcutters Bay are single-tenant investments and on five-year lease terms.
Burgess Rawson is marketing the shops as good entry-level investments.
Net income from shops 1&amp;2 is $68,144 pa + GST, while Shop 3 earns $29,000 pa + GST.
Both investments come with annual CPI increases.
The location is in the midst of one of the most densely populated areas in Australia and is near to Sydney Harbour, parks, nightlife and transport.
Both properties are to be sold separately.
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Rushcutters Bay retail property listed 

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A two-storey commercial building in the CBD area of NSW’s Dubbo has been listed through Burgess Rawson.
The <a href="https://www.burgessrawson.com.au/buying/NSW/Dubbo-and-Orana/Dubbo/Office/2P1139#.Vsg-G8eO7ow" target="_blank">10-14 Cobra Street</a> property is fully leased, and tenants include Pizza Hut, Australian Hearing Services and Raine &amp; Horne. Among its neighbours are a Red Rooster and McDonald’s.
All the four tenants are on five-year leases with the option of another five.
The investment property generates an annual net income of $242,304 plus GST.
The building has a floor area of 842 sqm with 30 on-site car spaces. Its landholding is 1,926 sum with frontages to Macquarie Street and Mitchell Highway.
Dubbo is a major regional city servicing a geographical area one-third the size of NSW. The city’s population is in excess of 41,000 with a catchment population of more than 120,000, according to the state government website.
The listing agent is Simon Staddon. 
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