Joint venture partners <a href="https://www.apartments.com.au/developers/abadeen">Abadeen</a> and <a href="https://www.apartments.com.au/developers/perifa">PERIFA</a> are officially launching the third and final residential stage at their landmark $350 million harbourfront precinct, Putney Wharf, with The Residences representing the final opportunity to secure a new home within this rare waterfront destination.

Strong demand has already been established across the earlier stages of <a href="https://www.apartments.com.au/new-apartments/putney-wharf-residences-20-waterview-street-putney-nsw-2112">Putney Wharf</a>, with more than 50 per cent sold ahead of this final release. The Residences will introduce a selection of the precinct’s most premium apartments, many of which were deliberately reserved for this concluding stage.

Located at 20 Waterview Street, <a href="https://www.apartments.com.au/developments/putney-nsw-2112">Putney</a> NSW, the completed precinct will comprise 67 residences, including 18 terraces and 49 apartments, alongside five retail tenancies and a 36-berth marina.

[smartcode_project:default project_id=13962 project_image_fid=1338]

Developed alongside partners Phoenix Property Investors and Mitsubishi Estate Asia, Putney Wharf occupies a prized 300-metre stretch of absolute waterfront and incorporates the historic former Halvorsen’s Boatshed. The precinct connects directly to surrounding parklands via a landscaped foreshore walkway and a large, landscaped podium linking both sides of the development to the adjoining foreshore parklands.

The Residences comprise two newly built, three-storey apartment buildings delivering a boutique collection of 30 generously proportioned waterfront apartments. Designed to capture harbour outlooks, natural light and cooling breezes, The Residences balance architectural refinement with relaxed, low-maintenance living.

Architecturally designed by <a href="https://www.apartments.com.au/architects/sjb-architects">SJB</a>, the apartments continue the cohesive design language seen across the broader precinct. A refined palette of light and dark materials, softer-toned stone and neutral, earthy finishes reflect the surrounding landscape and harbour setting. Interiors feature painted timber veneers, tactile joinery, timber flooring to living spaces and 100 per cent natural wool carpets in bedrooms, creating warm and sophisticated homes.

[smartcode_project:default project_id=13962 project_image_fid=362525]

Justin Brown, Executive Chairman and Founder of Abadeen, said the release of the final residential stage marks an important milestone for the project.

“Putney Wharf brings together everything we’ve learned over more than 25 years of development,” Mr Brown said. “It respects the site’s extraordinary maritime history while delivering contemporary homes that connect people directly to the harbour.

The Residences offer the rare combination of low-maintenance apartment living, waterfront outlooks with beautiful sunset views, and the convenience of retail and amenity at your doorstep. For boating enthusiasts, the opportunity to secure a private marina berth completes a truly unique Sydney harbourfront lifestyle.”

[smartcode_project:default project_id=13962 project_image_fid=291197]

PERIFA Managing Director and Co-Founder Fabrizio Perilli added that the diversity of housing across the precinct has been central to the project’s success.

“Whether it’s the heritage Halvorsen’s apartments, the Waterview Terraces or now The Residences, Putney Wharf offers a range of homes that respond to different lifestyles, all united by an unrivalled harbourfront setting,” Perilli said. “This is a precinct that will add lasting value to the Putney community.”

Managing project marketing and sales, <a href="https://www.apartments.com.au/project-marketer/srm-residential">SRM Residential</a> Partner Tim Rees said the final release has already attracted strong demand reflecting the project’s unique harbourfront position and the success of earlier stages.

“Following the strong response to both the Halvorsen’s Boatshed residences and the Waterview Terraces, The Residences represent the final chance to secure a new home within this tightly held waterfront precinct,” Rees said. “Buyers are drawn to the rare combination of absolute harbour frontage, parkside living and genuine architectural quality.”

[smartcode_project:default project_id=13962 project_image_fid=362240]

Putney Wharf is a one-of-a-kind mixed-use destination, delivering an exclusive residential offering alongside waterfront dining, retail and a 36-berth marina designed to the latest Australian Standards, accommodating vessels up to 18 metres and helping address Sydney Harbour’s ongoing marina shortage.

The precinct will include five retail tenancies and a prominent waterfront jetty area fronting the retail village, creating an activated harbourfront destination for residents and visitors alike.

Residents will enjoy direct access to lush harbourfront parklands, a public foreshore walkway and landscaped podium gardens connecting the development to the surrounding waterfront reserve. Construction across the Putney Wharf precinct is expected to be completed by Q2 2027.

Sales of The Residences officially launch this weekend, with the display suite open Saturday and Sunday from 10am to 12pm at Putney Wharf. Visitors are invited to enjoy a complimentary coffee while touring The Residences and experiencing the Putney Wharf lifestyle firsthand.

[smartcode_project_cta:default project_id=13962]

Joel Robinson

Final Harbourfront release in Putney Wharf launches this weekend

<a href="https://www.apartments.com.au/developers/draycon">Draycon Building</a> is nearing completion of Boutique Chevron Island, a 42-apartment development on the northern end of Chevron Island at 17–19 Parneno Street, with a limited-time offer of fully furnished apartments available.

Now more than 90 per cent complete, <a href="https://www.apartments.com.au/buildings/boutique-chevron-island-17-19-parneno-chevron-island-qld-4217">Boutique</a> has been shaped by one of the Gold Coast’s most tightly held island addresses, where riverfront outlooks and walkable access to Surfers Paradise converge.

For Draycon Building Managing Director Howard Dabit, the appeal of the site was immediate.

“I knew it was a good site as soon as I saw it,” Dabit said.

“The position and location on the north end of <a href="https://www.apartments.com.au/developments/chevron-island-qld-4217">Chevron Island</a>, the way the river swirls around the site basically from the north to the east, it feels like the site is surrounded by the water. The height that we’ve got and the aspect looking north is beautiful. Eighty per cent of the apartments are looking north so they get that drenching sunlight coming in.”

[smartcode_project:default project_id=89709 project_image_fid=360922]

That northern orientation places the development within a stretch of Chevron Island defined by open river aspects and skyline views, while remaining embedded in the suburb’s established village setting.

Chevron Island has increasingly drawn owner-occupiers seeking centrality without the intensity of high-rise beachfront living. Positioned at the geographical centre of the Gold Coast, the island offers direct access to both the beach and key cultural infrastructure while retaining a neighbourhood-scale character.

Connected by bridge to Surfers Paradise, Chevron Island offers walkable access to beaches, riverfront parklands and a revitalised foreshore boulevard animated by walkers and cyclists throughout the day. The Pacific Ocean is only minutes away, reinforcing the suburb’s dual river-and-surf identity.

At the same time, Thomas Drive forms the spine of the island’s village life, delivering cafés, wine bars, casual dining and everyday services within easy reach. Independent grocers, wellness operators and neighbourhood retailers contribute to a community atmosphere that remains distinct from the vertical scale of the beachfront.

[smartcode_project:default project_id=89709 project_image_fid=360915]

In the opposite direction, the Green Bridge links directly to HOTA – Home of the Arts – placing galleries, performance venues and parklands within walking distance. Weekly markets and major exhibitions draw visitors from across the region, while residents return to a quieter residential pocket at day’s end.

Public transport, including nearby bus routes and the G:link light rail corridor along the coastal spine, strengthens connectivity north and south. Griffith University, the Gold Coast University Hospital precinct and established private schools such as The Southport School are all within a short drive.

Ongoing investment across Surfers Paradise, HOTA and the broader Southport corridor has elevated amenity while preserving Chevron Island’s comparatively low-rise residential character. It is this balance, walkable village atmosphere paired with metropolitan-scale infrastructure, that continues to differentiate the suburb from higher-density beachfront precincts.

Boutique comprises just 42 residences, designed to maximise river and skyline outlooks within this tightly held island setting.

Boutique Chevron Island is slated for completion in April 2026, with prices starting from $1,220,000.

[smartcode_project_cta:default project_id=89709]

Draycon Building’s Boutique Chevron Island places 42 residences at the heart of the Gold Coast

Sydney developer <a href="https://www.apartments.com.au/developers/deicorp">Deicorp</a> has secured planning approval for a $300 million residential development in Lindfield, marking the company’s second project on Sydney’s North Shore and its first on the Upper North Shore.

Located on Beaconsfield Parade and designed by DKO Architecture, the state significant development comprises three buildings of up to 10 storeys and will include 399 residences, including 59 affordable homes and 40 adaptable homes.

Residences will range in size from one, two and three bedrooms, with two-bedroom apartments accounting for over 60 per cent of the product make-up. Residents will have access to a broad suite of amenities, including a wellness area, indoor and outdoor recreational spaces, a pool, a gym, a community room and a golf simulator.

In line with Deicorp’s long-standing focus on creating transit-oriented communities, the project is located just 260 metres from the Lindfield Train Station, reinforcing its role in delivering well-connected housing close to established infrastructure, retail and local services.

The inclusion of affordable and adaptable housing supports greater diversity within the local market, while the mix of apartment types responds to demand from downsizers, young professionals and families seeking access to the Upper North Shore.

Deicorp Founder Fouad Deiri OAM said the approval represents an important milestone for both the company and the suburb

“This approval allows us to deliver well-designed homes in a location that is already supported by strong transport and community infrastructure," Deiri said.

"Our focus is on creating places that integrate into their surroundings and provide long-term value for residents, and the broader Lindfield community. Being within walking distance of the station ensures this project supports sustainable growth in the right locations."

Across its portfolio, Deicorp currently has 4,703 apartments under construction, playing a leading role in shaping connected, liveable communities across Sydney.

Its expanding portfolio of Metro-linked developments includes Tallawong Village, <a href="https://www.apartments.com.au/new-apartments/kings-bay-village-five-dock-53-75-queens-road-five-dock-nsw-2046">Kings Bay Village</a> in Five Dock, <a href="https://www.apartments.com.au/new-apartments/hyde-metropolitan-sydney-133-141-liverpool-street-sydney-nsw-2000">Hyde Metropolitan</a> in Sydney CBD, <a href="https://www.apartments.com.au/new-apartments/falcon-alexander-crows-nest-8-alexander-street-crows-nest-nsw-2065">Falcon &amp; Alexander</a> in Crows Nest and Showground Village, Castle Hill.

Deicorp purchased the Beaconsfield Paradise site last year. Construction is scheduled to commence in Q2 of 2026 and will be completed in 2029.

Deicorp expands portfolio to nearly 5,000 apartments with Lindfield project

In a joint venture with The Trump Organization, Australia developer Altus Property Group has announced plans to bring a Trump International Hotel &amp; Tower to the Gold Coast, marking the first Trump-branded project in Australia.

"Trump International Hotel &amp; Tower, Gold Coast is our first official project in Australia and reflects our unwavering commitment to delivering world-class luxury experiences in iconic locations around the world," Eric Trump, Executive Vice President of The Trump Organization, said.

"This development exemplifies the Trump brand’s dedication to quality, sophistication, and unmatched service, and we are thrilled to bring this vision to the vibrant Gold Coast community."

The 91-storey building, which will become the tallest in Australia at 335 metres, will feature a&nbsp;285-room luxury hotel bearing the trademark Trump logo. It will also include 272 luxury residential apartments, a three-level podium with an exclusive Beach Club, and over 3,400 sqm of premium commercial, retail, and dining space, revitalizing the central Surfers Paradise precinct.

“Trump International Hotel &amp; Tower, Gold Coast will be a truly unique offering in the Australian market, bringing the prestige and allure of a world-class luxury brand,"&nbsp;Altus founder and chief executive David Young said.

"Altus Property Group is proud of its track record in delivering landmark developments across Australia, and our expertise ensures this project will be an outstanding success."

Trump Hotel heads for the Gold Coast to become Australia's tallest building

More than a century after the Corrimal Coke Works first opened in 1912, the industrial landmark that helped shape the suburb is being reinterpreted as a walkable residential neighbourhood, with Stage One of <a href="https://www.apartments.com.au/new-apartments/the-works-stage-one-27-railway-street-corrimal-nsw-2518">The Works</a> now underway at 27 Railway Street.

For 102 years, the site was central to <a href="https://www.apartments.com.au/developments/corrimal-nsw-2518">Corrimal</a>’s economic and social identity before operations ceased in 2014. Rather than erasing that legacy, developer Legacy Property has embedded it into the masterplan, retaining and reinterpreting elements such as the iconic 1912 brick chimney and sections of the original C1 Coke Oven Battery, alongside the adaptive reuse of the former powerhouse building.

Stage One will introduce 181 apartments across low-rise buildings, offering predominantly two and three-bedroom residences with completion targeted for mid-2027. The scale and configuration reflect a deliberate focus on owner-occupiers, targeting those seeking a lower-maintenance home in a prime location within the northern suburbs of Wollongong.

[smartcode_project:default project_id=143415 project_image_fid=359833]

Apartments have been designed to maximise natural light and cross-ventilation, with floor-to-ceiling glazing extending living areas onto generous balconies. Engineered timber flooring, induction cooktops and 900mm ovens in larger residences support everyday functionality, while two interior palettes allow buyers to tailor finishes to their preferences. The material selection draws on a restrained coastal language, intended to connect homes to their surroundings rather than compete with them.

The Works forms part of a broader 18-hectare masterplan that will ultimately deliver around 550 dwellings, new parks, and a heritage precinct celebrating the site’s past. More than seven hectares are dedicated to open space, including Southern Park and a Village Green with community gardens and recreation areas. The creek corridor is being rehabilitated with 150,000 native plantings, restoring biodiversity to the site and softening landscape.

[smartcode_project:default project_id=143415 project_image_fid=359841]

Positioned adjacent to Corrimal Station and within walking distance of Corrimal Town Centre, the precinct places daily essentials, rail connections and local retail within easy reach. Wollongong CBD, including the hospital, university and entertainment venues, sits approximately 6.5 kilometres to the south.

For buyers more familiar with North Wollongong, Corrimal offers a different proposition: a well-established coastal suburb framed by beaches to the east and the escarpment to the west, with a strong sense of local identity shaped in part by the former Coke Works. The Works seeks to reinforce that identity by creating a connected, walkable neighbourhood between coast and escarpment, rather than a standalone apartment complex.

Sustainability underpins the development approach. The Works is targeting Wollongong’s first 5-Star Green Star-rated community, with water-sensitive urban design, recycled materials and energy-efficient buildings integrated across the masterplan. For residents, these measures provide not only environmental benefits but also reduced operational costs and future resilience.

[smartcode_project:default project_id=143415 project_image_fid=359842]

With construction commenced and display materials available to view, prospective buyers can now engage more directly with the project’s vision, reviewing floorplans, material selections and the broader masterplan in detail. For many local homeowners weighing a move, the opportunity to experience how heritage, landscape and contemporary design intersect may help bridge the gap between familiarity and the next chapter.

As Stage One progresses toward its mid-2027 completion, The Works represents a significant chapter in Corrimal’s evolution, transforming a site that once powered local industry into a walkable residential precinct designed for its next generation of residents.

[smartcode_project_cta:default project_id=143415]

Legacy Property’s The Works reimagines Corrimal’s century-old Coke Works

Retail Property

<html><body>
A prime commercial landholding in Camberwell has sold to a local buyer for $10,050,000 at auction.
The 1,965 sqm block at <a href="https://www.commercialrealestate.com.au/property/398-410-burke-road-camberwell-vic-3124-2015782263" target="_blank">398-410 Burke Road</a> comprises six adjoining retail and commercial freehold buildings in the South Camberwell Retail Village.
The Bakers Wife bakery, the restaurant Squires Loft, Kinban Building Consultants, Dealing in Design and Rod Lord Restorations are just some of the tenants.
Savills Australia agents Jesse Radisich, Nick Peden, and Benson Zhou secured the sale at a tight 1.65% yield and a land rate of $5,120 per sqm within one week following the close of expressions of interest. 
They had strong interest from offshore and local buyers.
Radisich said numerous international and local buyers were attracted to the site’s significant existing rental income, prime location, development potential, and the scarcity of the offering in terms of scale. 
“398-410 Burke Road lends itself to a host of possible outcomes,” Radisich said. 
“In a very positive sign of strength in the market, a cashed up local buyer was able to outbid strong off-shore and other local interest, with an incredibly short settlement period of just 23 days.” 
“The property is located in a Commercial 1 Zone, and the current owner was very deliberate in not putting in place any long-term leases at the property which would restrict short-term development potential. 
"This of course makes the site ideal for a prime mixed-use development in the near future.”  
Nick Peden said it is rare for a site of this scale to be offered to the market within a prime retail strip. 
 
 
</body></html>

jrobinson-rf4aSBido9

Prime Camberwell commercial block sells for over $10 million

<html><body>
A Hong Kong investor has bought two prime retail shops across from Luna Park in St Kilda.
He paid $2 million for <a href="https://www.commercialrealestate.com.au/property/4-shakespeare-grove-st-kilda-vic-3182-2015820349" target="_blank">4 Shakespeare Grove</a>, occupied by Bay City Burrito.
It was the bigger of the two spaces at 149 sqm. Bay City Burrito recently signed a 5+5+5 year lease at $118,660 per annum with three per cent annual rental increases.
The smaller 89 sqm retail space, <a href="https://www.commercialrealestate.com.au/property/5-6-shakespeare-grove-st-kilda-vic-3182-2015820350" target="_blank">5 and 6 Shakespeare Grove</a>, is currently the home of Japenese restaurant Gyoza King. That cost $1.45 million.
Gyoza King have a 5+5 year lease since December 2018. They pay $82,400 per annum, also with three per cent annual rental increases.
Both spaces are located just 50 metres from the premium Acland Street retail strip.
Savills agents Nick Peden, Mark Stafford, and Dorothy He negotiated the deals viatwo swift private sale campaigns, achieving tight yields and building rates of $13,423 and $16,292 per sq m. 
Peden said both local and offshore investors were drawn to the properties due to the high quality tenants and renowned location.
“Ultimately these two prime retail investments offered the buyers significant confidence, and highlight the strong buyer demand we are experiencing for revenue generating property.” 
“As interest rates continue at record lows, more and more people are looking to property investment for their savings, making these affordable investments highly sought after in the current market.” 
</body></html>

Hong Kong investor buys adjoining prime St Kilda retail spaces

<html><body>
Hotelier Sam Arnaout has sold his King Street, Sydney CBD building for $23.5 million.
It's believed to have been bought by a luxury retailer who had his eye on a heritage building.
Bidding opened at $18 million, with nine bids driving the price to $23.5 million, when it was knocked down by auctioneer Damien Cooley, reportedly to the luxury watch boutique Swiss Concept owner.
The freehold property, marketed as the perfect office HQ by Colliers International agents Miron Solomons and Harry Bui in conjunction with Savills agent Jordan Lee.
Hermes, Louis Vuitton, Dior, Cartier, Boss, Bally, Tiffany &amp; Co, Bulgari, Frank Muller, Chopard, Zegna all neighbour the property.
The 1887-built heritage-listed property spans six levels with a 310 sqm area. It was designed by architects Sheering &amp; Hennessy.
Hermes recently spent $100 million on the nearby 155 King Street.
Miron Solomons of Colliers International said this is a record breaking result for Sydney’s lux hotspot.
“It’s not often that such a high calibre asset goes to auction in the Sydney CBD and it was impressive to see the who’s who of Sydney’s property market whipping out their calculators and cheque books."
According to Jordan Lee, of Savills Australia, the on market campaign saw a range of interest from around Australia and across Asia Pacific.
“We had a lot of High Net Worth privates looking for flagship assets and a lot of clients in Asia hoping to secure a flagship presence in the Sydney CBD” he said.
</body></html>

jonathanchancellor-7SQnKwU6yx

King Street, Sydney CBD building sells for $23.5 million

<html><body>
A private South Australian investor has paid $12.95 million on a 7.57 per cent yield for Moelis Australia’s Hollywood Plaza Large Format Retail Centre at Salisbury Downs in Adelaide’s outer north.
According to CBRE Director Investments Justin Dowers who brokered the Expressions of Interest deal with Mark Wizel, Kevin Tong, and Michael Fenton, the property attracted significant local and international interest eliciting seven formal offers.
The asset features include, full occupancy, the integrated nature of the six tenancies and space available for future expansion.
It is located opposite the Hollywood Plaza shopping centre.
The fully leased, 8080 sqm centre, returns an annual net income of $980,000 from six separate tenancies including Cheap as Chips, Supercheap Auto, Salvation Army and Anytime Fitness, with a WALE of 5.8 years.
Mr Wizel said the 3.7 hectare site presented investors with significant value-add or expansion opportunities, including mixed-use development, due to the low 22 per cent site coverage.
Mr Dowers said some positive news regarding the South Australian economy was also noted by purchasers.
"South Australia is currently experiencing a period of growth buoyed by significant investment in key sectors including the ship building program and the $5 billion investment in the largest teaching hospital in the Southern Hemisphere, projects which are expected to benefit the state for decades to come," he stated.
</body></html>

j.ballantyne1990-6AQqhLzZaK

Adelaide's Hollywood Plaza retail centre sold for $13 million

<html><body>
The Clifton Hill warehouse of Schots Home Emporium has been listed for sale given their closure plans next year.
Schots have opened newer stores in Geelong and Moorabbin in Melbourne's South.
The landmark red brick building at <a href="https://www.propertyobserver.com.au/%20https:/www.realcommercial.com.au/property-offices-vic-clifton+hill-503241878" target="_blank">380-406 Hoddle Street</a> is leased to Schots until April 2020, with options for only two x one month extensions.
Schots bought the building with 5,305 sqm floor space for $613,000 in 1994. It's expected to fetch upwards of $20 million.
It was built as a shoe and boot factory in 1913.
<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/2019/7/2/Schots%20Hoddle%20Street%20Clifton%20Hill%202.jpg" alt="">
The building sits on a prime 2,140 sqm plot described as an island site by Colliers International agents Peter Bremner, Ted Dwyer and Andrew Ryan given it has four street frontages to Hoddle, Noone and Parslow Streets, as well as a rear lane.
The three storey building has been called "the most exciting opportunity to hit the market in the Melbourne City Fringe so far in 2019" by the Colliers team.
It will be sold with a short-term holding income of $800,000 per annum until the end of the lease in April. 
 
 
 
</body></html>

Schots Home Emporium list their Clifton Hills store

<html><body>
A William Street, Paddington terrace owned by Christine Tourgelis, the family matriarch of Paddington's famous independent gift and homewares retailer Opus Design, has hit the market.
Tourgelis, who with her husband Tass bought the original Opus Store in 1978 on Oxford Street, spent $590,000 on the 1890s terrace back in 2000.
Since then <a href="https://www.realcommercial.com.au/property-retail-nsw-paddington-503226130" target="_blank">15 William Street</a> has been home to a number of retailers, but never Opus.
It is currently occupied by Wil Valor tailors and G&amp;L Handmade Shoes.
The two level property has two bedrooms upstairs.
There's a private courtyard with rear lane access on the 80 square metre parcel.
<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/2019/6/18/William2.jpg" alt="">
It sits next door to fashion designer Sonya Hopkins' luxury knitwear store.
Richard Movsessian at Coastline Agency Maroubra suggests the building is ideal as a residence, gallery or designer boutique to live and work from.
Opus was founded by Christine and Tass in 1968, 10 years before they bought their first store on Oxford Street.
Four years ago they moved to a bigger 500 square metre space on Oxford Street which they converted from an old bank.
They dedicated a second level to furniture, art and soft furnishings.
They also have a sister store, OCTOPUS, on Newtown's King Street, which they opened in 2002.
The family ran business has is currently being run by Chris Tourgelis, Christine and Tass's son.
Their daughter Irene has also worked at Opus for over 15 years.
</body></html>

Opus Design founders list William Street, Paddington terrace

<html><body>
A Toorak retail premises that is currently occupied by Bakers Delight and NewsXpress has been listed for sale.
The 255 sqm, two level building at 479 and 479A Toorak Road is divided in to two tenancies.
NewsXpress fronts Toorak Road, while Bakers Delight occupies the rear of the building.
The two current tenants provide a returning total income of $167,116 per annum.
Set between Wallace Avenue and Grange Road, the double-fronted building sits in 205 sqm with nearly six metre frontage to Toorak Road and Jackson Street carpark.
Teksa Carson agents Fergus Evans and Michael Ludski are marketing the property for a June 21 auction.
<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/2019/5/29/Toorak2.jpg" alt="">
Evans says Toorak Road is arguably one of Melbourne's most coveted retail shopping strips.
"It really is a prestigious, blue-chip, location that doesn’t offer assets of this calibre to the market very often and as such it will undoubtedly attract the attention of astute retail strip investors,’’ Evans said.
Ludski said the strip retail market had prospered recently and continued to attract attention from small investors despite the headwinds facing some sectors of the market.
"The ongoing strength of the market is about the traditional popularity of this asset class for smaller investor, as well as the increase in demand for this type of property as investors drift away from a somewhat troubled residential sector.
"We are also seeing an uptick in interest from buyers financed off-shore and a more nuanced attitude to investment particularly from buyers looking longer term and particularly around any potential for development upside,’’ Mr Ludski said.
 
</body></html>

Tudor-style Toorak home of NewsXpress and Bakers Delight for sale

<html><body>
Two adjoining commercial premises on Woollahra's iconic Queen Street strip have been listed for sale.
There have only been two sales on Queen Street in the last 12 months.
The property's, being sold in one line at <a href="https://www.realcommercial.com.au/property-retail-nsw-woollahra-503193066" target="_blank">146 and 148 Queen Street</a> both have four metre street frontage to Queen Street.
They have been described as super prime retail investments, sitting near the corner of Holdsworth Street.
Japanese restaurant Izy Izakaya own and occupy number 146 which cost $200,000 in 1984.
<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/2019/5/28/Queen2.jpg" alt="">
Next door is being offered with vacant possession.
Savills agents Tom Tuxworth, Nick Tuxworth and David Hickey have expressions of interest until June 19.
“This property will give both investor and owners occupiers the opportunity to add instant value through repositioning to take full advantage of customers who live in the third wealthiest suburb in NSW and bustling 7-day pedestrian foot traffic on Queen Street." Tom Tuxworth said.
“146 &amp; 148 Queen Street, Woollahra is surrounded by institutions including Victor Churchill, Chargrill Charlies, Bistro Moncur, Chiswick, Woollahra Luxe and Big Mamas.
"Both shops have been held for over 30 years so we expect significant local and offshore interest mainly due to the irreplaceable nature and scarcity of opportunities like these being offered to the market” he said.
<div class="DescriptionPanel_mask_3ZNIk">
<div class="DescriptionPanel_description_20faq"> </div>
</div>
</body></html>

Savills list adjoining Queen Street commercial premises

<html><body>
EXPERT OBSERVER
After weeks of <a href="https://www.insideretail.com.au/news/macquarie-report-says-up-to-60-big-w-stores-may-need-to-close-201903" target="_blank">speculation</a>, Woolworths has confirmed it will close 30 of its Big W stores in Australia, as well as two distribution centres. This represents <a href="https://www.woolworthsgroup.com.au/page/media/Press_Releases/woolworths-group-market-update/" target="_blank">about 16%</a> of its 183-strong network.
The obvious culprit, and the one identified by many analysts, is online shopping.
As one <a href="https://www.news.com.au/finance/business/retail/woolworths-announces-closure-of-30-big-w-stores-after-slow-profit-improvement/news-story/f8ff7222fded595ec627dd7d9a45e7e8%5D" target="_blank">industry analyst explained</a>: “The physical department store footprint is likely to continue to shrink as online sales penetration increases further.”
Online shopping is certainly a factor, but it is not the primary reason for Big W’s troubles.
Though online shopping in the department and variety stores category is growing fast (by 29.6% in 2018 according to the NAB <a href="https://business.nab.com.au/wp-content/uploads/2019/03/NAB-Online-Retail-Sales-Index-January-19.pdf" target="_blank">Online Retail Sales Index</a>, the total amount of money spent online by Australian shoppers – A$28.8 billion – is still only about about 9% of what is spent in traditional bricks-and-mortar stores.
<hr>
<a href="https://images.theconversation.com/files/267227/original/file-20190402-177163-y5vxk8.png?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=1000&amp;fit=clip"><img src="https://images.theconversation.com/files/267227/original/file-20190402-177163-y5vxk8.png?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=754&amp;fit=clip" alt=""></a>
Online retail sales growth by industry in the 12 months to December 2018, <a class="source" href="https://business.nab.com.au/nab-online-retail-sales-index-quarterly-update-december-2018-33296/" target="_blank">NAB Online Retail Sales Index</a>
More important to Big W’s woes is the growth of the so-called category killers, which are disrupting the entire discount department store business model. It a threat to which Big W has failed to respond with the same agility of rival <a href="https://www.cmo.com.au/article/658773/kmart-turnaround-king-takes-chairman-post-gyg/" target="_blank">Kmart</a>.
<h2>Departed departments</h2>
If you’re old enough you may remember getting your wall paint mixed in the Big W hardware department, or buying car accessories from its automotive department. There was also a large “sight and sound” department filled with televisions, sound systems, videos and CDs. Discount department stores truly lived up to the idea of a variety store.
<iframe src="https://www.youtube.com/embed/fT8i7hpLGDs?wmode=transparent&amp;start=0" frameborder="0" width="440" height="260"></iframe>
‘You know the price is low, everyday’: A television advertisement for Big W in 1994.
But the profitability of all these market segments for department stores has been eroded by the growth of “<a href="https://www.insideretail.com.au/news/category-killers-breaking-hearts-everywhere-201709" target="_blank">category killers</a>” – retailers specialising in the same product categories.
Examples include Office Works for office supplies, Rebel for sports equipment, JB Hi-Fi for audiovisual, Super Cheap Auto for car parts, and Bunnings for hardware. All have taken market share from the discounters. These stores compete on price and have superior range, and shoppers trust the expertise of staff working in a specialist shop.
<h2>Speed of change</h2>
The popularity of category killers explains in large part the stagnant sales and talk of store closures throughout the department store segment.
Harris Scarfe and Best and Less <a href="https://www.insideretail.com.au/news/greenlit-brands-holds-off-disaster-201810">are reportedly</a> struggling. The Reject Shop’s net profit for the first half fell from an expected A$17 million to less than <a href="https://www.afr.com/business/retail/reject-shop-shares-plunge-40pc-after-profit-downgrade-20181017-h16qqu" target="_blank">A$11 million</a>. <a href="https://www.afr.com/business/retail/david-jones-interim-profits-plunge-39pc-20190221-h1bisz" target="_blank">David Jones’</a> half-year profit fell 39% to A$36 million. <a href="https://www.powerretail.com.au/multichannel/myer-1h2019-results/" target="_blank">Myer</a> reported a 2.8% drop in total sales for the same time frame.
Wesfarmers expects earnings from its department store brands Kmart and Target to fall about 8% this financial year. Eight Target stores closed during the first half of the financial year, with another six closures expected by the <a href="https://www.wesfarmers.com.au/docs/default-source/asx-announcements/2019-half-year-report-(incorporating-appendix-4d).pdf?sfvrsn=0" target="_blank">end of June</a>.
<h2>Cutting losses</h2>
Kmart is considered Australia’s discount department store “darling”. A decade ago it was on life support. Under the direction of chief executive Guy Russo <a href="https://www.afr.com/business/retail/wesfarmers-sticking-with-its-strategy-despite-setbacks-for-target-and-coal-20160624-gpr87n" target="_blank">it doubled it profits by 2015</a>.
A key to the turnaround was recognition it needed to quickly reduce or exit categories it could not compete in, such as hardware, automotive, fishing, consumer electronics and sporting goods. It has <a href="https://www.news.com.au/lifestyle/home/interiors/meet-the-woman-behind-discount-retailers-cheap-homewares/news-story/c3b87320cea433d89b2d894f34438c4a" target="_blank">turned to</a> homeware, soft furnishings, manchester and kitchenware.
There appears no such swiftness in Big W’s moves.
Big W’s chief executive from January to November 2016, Sally MacDonald, reportedly wanted to closes stores and make other major changes but <a href="https://www.afr.com/business/retail/woolworths-to-shut-30-big-w-stores-20190401-p519jr" target="_blank">was thwarted by the board of Woolworths Group</a>, owner of Big W.
Such differences in strategic vision explain why MacDonald left the role within the year.
This process of “right-sizing” therefore seems long overdue. To what extent it makes Woolworths a sustainable business, however, will depend on future response to changing circumstances.
What is certain is that discount department stores aren’t what they used to be; and if they want to be around in future, they probably can’t be what they are now.<img src="https://counter.theconversation.com/content/114630/count.gif?distributor=republish-lightbox-basic" alt="The Conversation" width="1" height="1" style="border: none !important; box-shadow: none !important; margin: 0 !important; max-height: 1px !important; max-width: 1px !important; min-height: 1px !important; min-width: 1px !important; opacity: 0 !important; outline: none !important; padding: 0 !important; text-shadow: none !important;">
<a href="https://theconversation.com/profiles/gary-mortimer-1322" target="_blank">Gary Mortimer</a>, Associate Professor in Marketing and Consumer Behaviour, <a href="http://theconversation.com/institutions/queensland-university-of-technology-847" target="_blank">Queensland University of Technology</a>
This article is republished from <a href="http://theconversation.com" target="_blank">The Conversation</a> under a Creative Commons license. Read the <a href="https://theconversation.com/the-trouble-with-big-w-dont-blame-online-for-killing-discount-department-stores-114630" target="_blank">original article</a>.
</body></html>

The trouble with Big W: don't blame online for killing discount department stores

<html><body>
For the first time in 18 years, some 20 Sydney CBD street kiosks are to be leased.
They were originally built for the Sydney Olympic Games in 2000.
The kiosks permitted uses include fruit, flowers, news and general retail style operations.
Michael Tuck, Senior Executive, Retail Leasing at Colliers International said it presented an "exceptional and rare opportunity" for local businesses to secure prime retail positions in the heart of Sydney CBD.
Earlier this year, the Colliers International Real Estate Management team were appointed by City of Sydney to manage property portfolio, consisting of approximately 400,000 square metres of commercial and community property.
The Colliers team are seeking Tenants for the approximately 20 Street Kiosks across the City.
One such kiosk is <a href="https://www.realcommercial.com.au/property-retail-nsw-sydney-503066802" target="_blank">1 Temperance Lane</a> (pictured above).
Set on 10 square metres it is situated in a laneway just off George Street in the food and beverage precinct.
The listing states the kiosk is "ready to trade" and approved for 9PM closing (6am opening).
</body></html>

Retail Property

Editor's Picks

Have something to contribute?

Developments

New apartments

New townhouses

News

Retail Property

Editor's Picks

Receive the latest news stories to your inbox

Have something to contribute?

Developments

New apartments

New townhouses

News