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

Joel Robinson

Parcel delivery is joining the apartment amenity checklist

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

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

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

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

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

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

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

Goldfields appoints BINAH for Quartet apartments in Milton

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

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

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

Retail Property

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Retail is hot property in and around Melbourne, suggest a number of recent sales.
The latest to go on the market is a retail freehold located at Armadale in Melbourne’s inner east.
Savills Australia opened up expressions of interest for the sale of the <a href="https://commercialpropertysearch.savills.com.au/searchdetailplainnew2noborder.aspx?id=690caa7e-9f0e-e711-80cf-005056816353&amp;jt=For%20Sale&amp;com=False&amp;ret=False&amp;ind=False&amp;lan=False&amp;addr=941-951%20High%20Street%20Armadale%20%20VIC%203143" target="_blank">941-951 High Street</a> property expecting it would fetch more than $5.5 million. It came with a May 18 deadline, but sold within days of its listing.
It will be sold subject to a short term leaseback to antiques retailer, Capocchi.
Occupying 809 sqm, the commercial 1 zoned site comprises a single-level retail building.
The listing agents are Savills’ Nick Peden, Clinton Baxter, Jesse Radisich and Benson Zhou.
"Its position in High Street Armadale is regarded as Melbourne’s most high profile, luxury shopping strip – opposite Armadale Railway Station, and within close proximity of Glenferrie Road retail and Malvern Central Shopping Centre and some of Melbourne’s best schools,” said Baxter.
Peden described the property as a prime opportunity because of its development potential and being located in one of Melbourne’s most affluent suburbs.
“This is one of those opportunities that comes up very rarely presenting an extraordinary investment as it is, but then also offering significant redevelopment potential given the zoning and the resounding success of other development ventures in the precinct,’’ he said.
Recently, a restaurant in Armadale sold at auction for $1.22 million through Ray White Commercial Oakleigh. 
The 857 High Street property is leased to Zia Rina’s Cucina. It fetched a yield of 3.46 percent and sold $120,000 over the vendor’s reserve.
 
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Armadale High Street retail offers development potential: Savills

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Three freehold buildings with land bank potenial along St Kilda’s iconic restaurant and lifestyle precinct and with views across Port Phillip Bay have sold recently.
The three properties at <a href="https://www.realcommercial.com.au/property-retail-vic-st+kilda-502097970" target="_blank">7, 9 and 11-15 Fitzroy Street</a> are tenanted. 
There is also scope for their re-development, subject to council approval.
The total land area is 1,335 square metres.
The rents from the three properties are as follows:
<ul>
<li>7 Fitzroy Street: Rent $111,508 per annum plus outs and GST. Restaurant and residence.</li>
<li>9 Fitzroy Street: Rent $161,820 per annum plus outs and GST. Ground floor Restaurant and three separate apartments.</li>
<li>11 – 15 Fitzroy Street: Rent: $428,045, per annum plus outs and GST. Three-level building with three ground floor commercial tenancies plus 10 apartments.</li>
</ul>
The selling agents were David Bourke and Mark Talbot of Fitzroys.
They are located close to Circa/Prince, Upper Esplanade, Catani Gardens and complimented with uninterrupted views across Port Phillip Bay.
The properties were first advertised for sale by expressions of interest closing October 6, 2016. 
11-15 Fitzroy Street was being marketed for its redevelopment potential as it is located in the restaurant precinct and has north-facing views over Catani Gardens.
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Three Fitzroy Street, St Kilda properties with tenancies sold

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A fully leased large format retail outlet in Perth's northern suburb of Malaga is on the market through an offers to purchase campaign closing 6 April.
The property, 738 Marshall Road, features two showroom/warehouses and has total net lettable space of around 3,215sqm on a 7,575sqm landholding.
It has a total passing income of $473,889 per annum.
Jack Divitini from CBRE  said the secure lease offered with the property would attract strong interest from investors.
“Not only does it offer security of immediate income, but the property’s strategic northern location and high profile main road exposure will ensure it remains an attractive option in the leasing market,” he said.
"The property is located on a prime corner site fronting Marshall Road, with a strong calibre of nearby retailers including Bunnings, Officeworks, Harvey Norman, The Good Guys and City Farmers.
"Recent take up of land in the Freeway Industrial Estate nearby would have a positive impact on capital growth in the future development of the Malaga area."
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Malaga leased investment up for grabs

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A convenience store with an apartment in the rear in NSW’s Fitzroy Falls has just sold for an undisclosed sum.
The Fitzroy Falls General Store at <a href="https://www.realcommercial.com.au/property-retail-nsw-fitzroy+falls-501736562" target="_blank">1351 Nowra Road, Fitzroy Falls, NSW 2577</a> is currently under a three-year lease to new tenants with further option of another three years.
The two-bedroom flat at the rear of the premises is occupied by the tenants.
The store is a historic part of the local area, supplying much-needed groceries for local residents, as well as fuel, fast food and coffee for travellers. The store currently returns 6.86% + GST NETT, and the property description says it would make up an ideal part of a buyer’s Superannuation Fund.
The land area is nearly 1,700 sqm. The property was last advertised in September 2015 for a price tag of $550,000 and spend 532 days on the market, RP Data shows. 
The selling agent was Terry Murphy of Terry Murphy Property Sales &amp; Management .
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Store with apartment in NSW's Fitzroy's Falls sells

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Fully leased neighbourhood centre Norfolk Village in Gold Coast's Ormeau has been purchased by a Melbourne-based syndicate group for $9.7 million on a yield of nearly 7.2 per cent in an off-market deal.
Located at 174 Pascoe Road, the single-level building comprises 16 specialty tenancy retailers such as Subway, Ray White, L.J Hooker, a medical centre, dentist and bakery among others.
The centre is fully leased with the annual net income of approximately $700,000. 
Its site area is 6,161 sqm site with a total net lettable area of 1,481 sqm.
The deal was brokered by Stewart Gilchrist of Colliers International 
“Norfolk Village did not suit all investors who enquired due to the short WALE lease terms, however, it appealed to the purchaser due to its strong history of being fully leased with fixed annual rent increases,” said Gilchrist.
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Fully leased Norfolk Village in Gold Coast's Oremeau sold for $9.7 million

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The popular Woodfrog Bakery has moved into Camberwell to open its seventh Melbourne shop in a deal brokered by Fitzroys. 
The bakery, which started its story from a vacant furniture shop in St Kilda, took the lease for ground floor space with extra first floor space at the rear of 570 Burke Road, Camberwell at $80,000 per annum net. 
The 81 sqm Camberwell site will join the bakery’s existing sites in St Kilda, Toorak, Kew, Melbourne CBD, Brighton and Doncaster. 
Fitzroys Chris James negotiated the five-year lease with options.
James said the bakery was keen to place itself in a high foot traffic location, with the property fronting the Camberwell Fresh Food Market, Target, Coles and Market Place car park, and positioned amongst the popular retail offerings of Burke Road.
“The large number of recently completed medium and high-density residential developments in the area, and high number of apartments in the pipeline are further underpinning the demand from for tenants for a presence on Burke Road.” 
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Melbourne's Woodfrog bakery leases into Camberwell 

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A refurbished commercial retail building with potential holding income in Tweed Heads has sold at auction for $2.475 million through by Ray White Commercial.
The property at <a href="https://www.realcommercial.com.au/property-retail-nsw-tweed+heads-502213062" target="_blank">79-81 Wharf Street</a>, Tweed Heads, was snapped up by a private developer. 
The selling agents were Assi Dadon of Ray White Commercial GC South and Ross Smith of Professionals Coolangatta-Tweed Heads.
“We had strong inquiry and keen bidding at the auction where the property sold under the hammer for a healthy sqm rate of $1,744 per sqm,” Dadon said.
The price was the highest sale value at the Auction Spectacular held at Twin Towns last month, added Dadon.
The building is on a land area of nearly 1,290 sqm and is zoned B3 Commercial Core. It has B3 zoning which allows a mixed use of commercial and residential — more than 40 units. 
“The current improvements consist of a one level building ready to occupy for holding income while a DA is sought to add value and further develop.”
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Tweed Heads site sold at auction for $2.475 million

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A beachfront shop on the tourist strip in Gold Coast’s Coolangatta has sold for $725,000 through Ray White.
The <a href="https://www.realcommercial.com.au/property-retail-qld-coolangatta-501948594" target="_blank">15/120 Marine Parade, Coolangatta, Qld 4225</a> property is tenanted by Beach Seafoods which is on a four-year lease with options to extend it twice. 
It has a land area of 91 sqm.
The net income after all expenses from the property is $52,838 plus GST with provision for annual CPI increases.
The selling agent was Dru Morgan of Ray White.
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Beachfront shop in Coolangatta sells for $725,000

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A Chinese investor has paid $2.95 million on a tight 4.4 per cent yield for a fully leased property in Melbourne’s Greensborough with development potential, in a deal brokered by Savills. 
The <a href="https://www.realcommercial.com.au/property-retail-vic-greensborough-502077854" target="_blank">86-90 Main Street</a> property comprises three shops on a single level totalling 350 square metres on a 682 square metre site with ten car parks.
The property resides in the Main Street retail precinct and Greensborough Activity Centre redevelopment, and is directly opposite Greensborough Plaza.  
It was sold with a current net rental of $130,240, and at a land rate of $4,325 a square metre.
The selling agents were Nick Peden and Jesse Radisich of Savills.
“This property offered secure income from three longstanding tenants with excellent main street exposure in a fantastic location,” said Peden.
“It is also in the centre of a major retail and commercial precinct in Greensborough’s central activity centre and as such offered excellent potential development upside.’’ 
The Greensborough centre has already seen the completion of a $50 million aquatic centre and several commercial/retail projects, while development plans in the pipeline include approved mixed-use projects in Main Street of up to seven levels. 
Public transport such as Greensborough Railway Station and bus services were within easy distance.
"This was the perfect retail investment and land banking opportunity in one of Melbourne's most active retail hot-spots and the price reflected that,’’ Radisich said.
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Chinese investor buys Greensborough shops on tight yield through Savills

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GUEST OBSERVER
The Retail Leases Amendment (Review) Bill 2016 was introduced into NSW Parliament on 8 November 2016 and when enacted, this legislation may make substantial amendments to many of the provisions of the current legislation, the Retail Leases Act 1994 (NSW) (RLA), governing most retail shop leases in New South Wales.
Some of the changes proposed by the Bill have been outlined below but first we must mention that some of the Bill is intended to have retrospective application:
Retrospective operation of amendments
Clause 38 of the Bill gives retrospective operation to the provisions of the Bill and extends the operation of the Bill to any leases and disclosure statements given, before the commencement of the amendments except as otherwise provided by the Bill.
Major Reform - Repealing the minimum five year term
The Bill removes the current minimum five year term for retail shop leases; the original intent of the introduction of a minimum five year term was to afford greater protection to the goodwill built up by a tenant and to protect the investment a tenant has made in fit out.
The result of getting rid of the five year minimum lease may be that more leases are being structured with shorter terms. Before the RLA, many retail leases were only 3 years but the new norm is now 5 years. The proposal gives greater flexibility to tenants to ask for longer or shorter terms however the potential for shorter terms may result in a greater turnover of tenancies. This may in turn have a detrimental impact on other tenants who are left behind when a key tenant does not elect for a longer term.
However the removal of this provision may save time and costs for both parties. The minimum five year term was not a benefit to tenants who sought a lease for less than five years as they would need to pay legal fees to obtain a s16(3) certificate from a lawyer to do so.
Exclusion of non-retail uses from RLA’s operation
The Bill excludes premises used wholly for certain non-retail purposes from the operation of the RLA. The excluded purposes are outlined in a new Schedule 1A and include the following (among other things):
<ul>
<li>ATMs;</li>
<li>Car parking;</li>
<li>Vending machines;</li>
<li>Public telephones;</li>
<li>Children’s ride machines;</li>
<li>Signage displays;</li>
<li>Internet booths;</li>
<li>Private post boxes;</li>
<li>Certain storage uses.</li>
</ul>
The Bill also removes an exclusion from the RLA for any premises in an office tower that forms part of a retail shopping centre. This means that the removal of the provision is not to include office towers; the reasoning is because the original exception was unnecessary as an office tower does not form part of a retail shopping centre simply because it is part of the same building. However the removal of this exception retrospectively may create practical issues where premises that have initially been deemed to be excluded under this provision now may no longer be excluded based on their factual circumstance. By functioning retrospectively the amendments would greatly burden those parties.
Additionally, the Bill asserts that the provisions will not apply to a retail shop that is a stall in a market unless the market is a permanent retail market.
Better Tenant Protection
Other changes proposed by the Bill include:
Disclosure Statements
<ul>
<li>
Landlords will be liable to pay compensation to tenants who terminate a lease in the first six months because they were not provided with a disclosure statement, or the disclosure statement was incomplete or false or misleading.
<ul>
<li>The compensation payable is the costs reasonably incurred by the tenant in entering into the lease, including expenditure in connection with the fit-out of the premises.</li>
</ul>
</li>
<li>A tenant is not required to pay outgoings unless that liability was disclosed in the landlord’s disclosure statement.</li>
</ul>
Disclosure of tenant’s financial obligation
<ul>
<li>If the landlord’s disclosure statement provides an estimate for an outgoing and the actual amount of the outgoing is more than the estimate, then if there was no reasonable basis for the estimate when the disclosure statement was provided, the tenant’s liability will be limited to the estimated amount, and all subsequent increases in outgoing will be limited by reference to the estimated amount.</li>
</ul>
Bank guarantees
<ul>
<li>
The landlord is required to return a bank guarantee to the tenant within 2 months after the tenant completes performance of obligations under the lease that are secured by the bank guarantee.
<ul>
<li>This allows the tenant to have certainty about the return of the bank guarantee, but also affords the landlord sufficient time to confirm compliance by a tenant with post-termination obligations.</li>
</ul>
</li>
</ul>
Online Transactions
<ul>
<li>Turnover rent must exclude revenue accrued from online transactions, except where goods or services are delivered or provided from the retail shop or where the transaction takes place while the customer is at the retail shop.</li>
<li>The tenant is not required to provide the lessor with information about online transactions except for transactions where goods or services are delivered or provided from the retail shop or where the transaction takes place while the customer is at the retail shop.</li>
</ul>
Mortgagee consent expenses
<ul>
<li>The tenant is no longer required to pay lease preparation expenses (including expenses incurred in obtaining mortgage consent to a lease) in connection with the granting, renewal or extension of a lease.</li>
</ul>
Employment Restrictions
<ul>
<li>The employment restrictions the landlord has over the lease is extended to impose on a tenant requirements for police and security checks for tenant’s employees or contractors carrying out works in the premises. However, this is only if the Registrar of Retail Tenancy Disputes has approved of their inclusion in the particular case.</li>
</ul>
Amendments that may benefit Landlords
Disclosure statement
<ul>
<li>The revised definition of outgoings extends the definition to fees charged by a landlord for services provided by the landlord ‘in connection with the management, operation, maintenance or repair of the retail shop building or land’.</li>
<li>A landlord’s disclosure statement may be amended if both parties agree in writing.</li>
</ul>
Other general amendments
Demolition
<ul>
<li>The protections afforded to a tenant when the lease is terminated on the grounds of a proposal to demolish the building are extended to termination on the grounds of proposed demolition of any part of the building. Proposed changes also clarify that termination on the proposed demolition is only permissible if the proposed demolition cannot be carried out practicably without vacant possession of the shop.</li>
</ul>
Assignment of lease
<ul>
<li>There is clarification on the procedure for obtaining the landlord’s consent to the assignment of a retail shop lease, however the provision still includes a deemed consent by the landlord if the landlord has not responded within 28 days from when the request for consent was made by the tenant or from when the tenant has complied with the requirements under the RLA.</li>
<li>Where a retail shop lease has been awarded by public tender, the landlord can refuse consent to assignment of the lease if the proposed assignee fails to meet any criteria of the tender.</li>
</ul>
Jurisdiction of the Tribunal
<ul>
<li>There is an expansion of existing power of the jurisdiction of the Civil and Administrative Tribunal and an increase to the monetary limit for claims arising under the RLA from $400,000 to $750,000.</li>
</ul>
Lease execution and registration 
<ul>
<li>The time period for which the landlord is required to provide the tenant with a signed copy of the lease has increased from 1 month to 3 months.</li>
<li>Leases for a term of more than 3 years will be required to be registered, and must be lodged for registration within 3 months after the executed lease is returned to the landlord.</li>
</ul>
Conclusion
Currently there is no guarantee that this Bill will be passed, and the Bill will likely undergo further discussion and amendments before it is enacted. Parties involved in retail leases as tenants or landlords however should be aware of the potential changes to the Bill as they will be expected to comply with the new requirements when the Bill is passed as the legislation will not only apply to future retail leases but also leases entered into before the enactment of the legislation.
Gary Newton is partner TressCox Lawyers and Henry Yuan is paralegal. Both can be contacted <a href="https://www.tresscox.com.au/page/our-expertise/property/" target="_blank">here</a>.
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