Boutique developer SIERA has recently completed PIPIS, a rare, absolute beachfront address that embodies the best of the southern Gold Coast.

PIPIS was delivered in under three years, an achievement that reflects SIERA’s considered yet efficient approach. After securing the prime Golden Four Drive site in late 2022, the team refined the approved design and delivered a boutique collection of 19 residences, including two double-storey penthouses, homes that demonstrate how precision, craftsmanship and a disciplined approach to design can make the most of a rare beachfront location.

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With construction now complete and residents settled in, the final sub-penthouse offers a rare opportunity to join an address that captures the calm and quality of true beachfront living on the southern Gold Coast.

Beyond its location, PIPIS distinguishes itself through the depth of its amenity and the way those spaces are considered. Every element, from the magnesium lap pool and tropical landscaping to the dedicated dog wash and reformer Pilates equipment, has been planned with the residents’ day-to-day lives in mind. It’s not just what’s included, but how thoughtfully it’s executed.

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What truly sets PIPIS apart is the construction quality and craftsmanship, a hallmark of SIERA projects since its inception in 2014.

“Design and construction quality is the absolute first priority at SIERA,” says Managing Director Brent Thompson. “It’s the most important aspect of any project we do, before speed of delivery, before sales. If you can guarantee build quality, then the rest will fall into place.”

Thompson says the company’s reputation has been built on trust and lived experience rather than marketing promises. “What we want at SIERA is for future purchasers to speak to our past purchasers and ask them what it’s like living in a SIERA building. If we haven’t delivered on what we’ve promised previously, we won’t be successful in the future.”

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With a background in construction, Thompson’s hands-on approach is a key part of SIERA’s success. “If buyers are putting faith in the SIERA brand, it’s my responsibility that we deliver absolute quality and the highest level of service.”&nbsp;

But for Thompson and SIERA, liveability goes far beyond build quality. Every project begins with a clear understanding of who it’s being designed for. “Before we commit to buying a piece of land to develop, we consider who will reside there and what will matter to them,” Thompson says.

Every residence at PIPIS has been designed to open to the breeze, the natural light, and the sound of the ocean. Broad balconies extend living spaces outward, while the use of robust, tactile materials ensures each home feels grounded and easy to live in. It’s a design shaped by Queensland’s climate and a genuine understanding of how people want to live by the beach.

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Location was central to the vision for PIPIS. It was designed for people who know what makes the southern Gold Coast special, those who live here year-round and those who return whenever they can. “Our buyers all share the same mindset,” says Thompson. “They want to be close to Kirra, Palm Beach and Coolangatta, yet still have privacy and calm. They prefer smaller, well-crafted buildings to big towers, and they want to walk straight onto the beach. PIPIS was built around that sense of ease and familiarity.”’

With construction complete and residents now settled in, the final sub-penthouse offers a rare chance to join an address that defines absolute beachfront living on the southern Gold Coast, a building conceived with care, built with precision, and unlikely to be repeated anytime soon.

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Joel Robinson

Quality assured: The sole focus driving SIERA’s Gold Coast apartment pipeline as PIPIS in Bilinga completes

When apartments are the minority in a suburb, their success often hinges on what’s available without needing a car.&nbsp;

Raya by <a href="https://www.urban.com.au/developers/core-developments">Core Developments</a> arrives at a time when apartment options in Gungahlin remain limited, and demand for well-located, walkable housing continues to grow.

Located on Ernest Cavanagh Street, <a href="https://www.urban.com.au/new-apartments/raya-gungahlin-ernest-cavanagh-street-gungahlin-act-2912">Raya</a> places residents within the most active part of Gungahlin.&nbsp;

Retail, dining, education and transport are all within close walking distance, with many of the suburb’s primary amenities located within a 150 to 300 metre radius.

“Raya has got the best to both worlds. A great looking building, that will be built impeccably. It will stand the test of time, and add enduring value for any buyer. And, this is quite simply the best residential location in <a href="https://www.urban.com.au/developments/gungahlin-act-2912">Gungahlin</a> with immediate access to every amenity Gungahlin has on offer. You could quite easily sell your car if you move here,” James Herbert of <a href="https://www.urban.com.au/project-marketer/lj-hooker-project-marketing-act-0">LJ Hooker projects</a> said.

<img alt="Raya, Gungahlin" data-entity-type="file" data-entity-uuid="266b0b21-f56b-4d93-9039-e9e17a2c4b71" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/e450173a099aaad8055757c92e45efb1-1600x0-c-default.png?VersionId=4X06Ja6e9pQTjOo4QKBEfKiRP1T7hR68" />

Marketplace Gungahlin - the suburb’s main shopping precinct - is less than a two-minute walk from the site. It offers access to major retailers including Woolworths, Aldi, BIG W and Kmart, along with a variety of services, medical centres, and fitness providers.

Dining options in the surrounding blocks are diverse and expanding. Longstanding local favourites like Le Bon Mélange and EQ Café are now joined by new arrivals such as Ikigai Ramen, The Usual and Sunday Canberra, reflecting Gungahlin’s emerging reputation as one of Canberra’s up-and-coming café and dining destinations.

While apartment living often calls for easy access to open space, Raya benefits from its proximity to several parks and recreational facilities. Yerrabi Pond District Park is just minutes away and offers walking trails, playgrounds, and picnic spots, as well as outdoor fitness equipment and a skate park.&nbsp;

Gungahlin Enclosed Oval and the Gungahlin Leisure Centre are also nearby, supporting a range of community and sports activities.

<img alt="Raya, Gungahlin" data-entity-type="file" data-entity-uuid="6b2ebc21-8257-4144-ad11-3970a73d5125" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/RAYA_2Bed-Living_nochair_3000-2000x0-c-default_0.png?VersionId=BJUJN_k6tZL9p9Lzq13m9OzyyKPstKQY" />

Public transport is a core strength of the location. The Gungahlin Place Light Rail stop, one of the network’s terminal stations, is located less than 100 metres from the development, providing direct access to Canberra’s inner north and CBD. Several local bus routes also operate from the same area, making car-free commuting a realistic option.

The immediate area also includes a number of schools catering to all levels, from early years through to college. Franklin School is within walking distance, while Gungahlin College and Burgmann Anglican School are both around two kilometres away. Childcare centres, health services and veterinary clinics are all established in the precinct.

Medical clinics, pharmacies, allied health services and a public walk-in centre are all available within the town centre footprint.

<img alt="Raya, Gungahlin" data-entity-type="file" data-entity-uuid="7b35a7c5-dbee-491a-8ec4-ee41c06505b5" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Raya_INT03_Rooftop_FP_3000-1600x0-c-default_0.png?VersionId=mTcDlZi3gAUq_spekHAWlWd5kvCbTiH3" />

Raya comprises 166 one, two and three-bedroom apartments, each with a private outdoor area. Balconies start at eight sqm, with some larger configurations offering upwards of 50 sqm of external space - a feature that aligns with the nearby parklands and active public spaces.

Buyers can secure an apartment now with a five per cent deposit, ahead of the project’s 2027 completion.

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Raya: Rare apartment living in Gungahlin’s town centre

Leeka Group has gone down the path of bringing a heightened level of wellness to its recently unveiled Melbourne apartment development, Comme Prahran.

It isn't in the form of a suite of amenities, given the building is more boutique in nature with just 32 apartments, but with clever inclusions designed to uplift their residents lifestyle.

<a href="https://www.apartments.com.au/new-apartments/comme-prahran-182-194-commercial-road-prahran-vic-3181">Comme</a>, directly opposition the iconic Prahran Market on Commercial Road, has been designed by renowned architecture studio <a href="https://www.apartments.com.au/architects/cera-stribley-architects">Cera Stribley</a> and&nbsp;will introduce the first-of-its-kind multi-dimensional wellness offering, where physical, mental, social, environmental, and cultural well-being are embedded throughout.

“Prahran has long been a destination for culture, community and quality of life, and Comme builds on that in a deeply intentional way,” says Leeka Director, Chek Ming Cheng.&nbsp;

“This project introduces a new kind of urban sanctuary, one that adapts to individual definitions of wellness, whether that’s through nutrition, rest, movement, design or connection. Every space has been thoughtfully shaped to support the diverse rhythms of modern life."

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There will be a rooftop with a&nbsp;Zen garden designed by <a href="https://www.apartments.com.au/landscape-architect/plume-studio">Plume Landscape Architects</a>, offering&nbsp;a sensory experience that activates all five senses, an edible herb wall to taste, calming botanicals to smell, reflexology paths to feel, lush plantings to see and the gentle sounds of water and birdsong to hear.

Inside each residence, wellness is deeply personal, and Comme embraces this individuality with a suite of customisation options designed to enhance both health and lifestyle. Residents can tailor their homes with circadian lighting automation, supported by research linking it to improved well-being, better rest, and even longevity.&nbsp;

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Other add-ons residents can opt for include real-time air monitoring and purification systems, ensuring a cleaner, healthier environment, while blackout blinds help optimise sleep quality. Additionally, the option to include integrated smart home technologies and security measures with multiple controlled access points offers ease, convenience, and peace of mind, supporting day-to-day living and contributing to overall mental well-being.

Kitchens can be fitted with healthy cooking appliances such as steam ovens and taps for instant filtered, sparkling or hot water, while ensuites can be transformed into spa-style sanctuaries complete with steam showers, heated floors, rain heads, smart toilets, and sensor night lights to support restful sleep cycles. In the penthouse residence, further options include an outdoor spa for enhanced recovery and indulgence.

“Comme isn’t just about design, it’s about how space can support your day-to-day life," Chek added.

"Whether you like a steam shower, checking your indoor air quality, simply enjoying a quiet moment in the rooftop garden, or reflecting on the artworks in the building, wellness is part of your everyday routine, not an afterthought."

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The residences will feature open-plan layouts compliant with Better Apartment Design Standards (BADS), with floor-to-ceiling windows that maximise ventilation, natural light and thermal comfort. Finishes such as natural stones, timber flooring and low-VOC paints are complemented by facade design that filters dappled light and aids in thermal comfort.

Cera Stribley, Co-Founder, Domenic Cerantonio, said the first thing you notice is the light.

"Natural light floods the living spaces, casting a soft glow that instantly lifts your spirits. It's as if the outside world melts away, and you're cocooned in a peaceful oasis."

The gallery-style residential lobby will feature circadian-inspired lighting and artwork, while the ground-floor will offer retail and hospitality spaces.

The building’s mixed-use design fosters connection, with ground-floor retail and hospitality creating a vibrant, welcoming destination. These spaces are thoughtfully designed to enhance the precinct and bring it to life.

&nbsp;

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Sustainability and environmental responsibility are integral to Comme Prahran’s DNA. All homes are gas-free and designed to a 7-star energy average, with double glazing, WELS-rated plumbing, and EV charging capabilities available. A light-coloured exterior has been chosen to minimise heat absorption, supporting thermal efficiency and reducing reliance on artificial cooling.

Honouring the cultural richness of Prahran, the project reimagines an Edwardian-era landmark, integrating its historic character into a contemporary architectural form. Art experiences will activate the residential and retail lobbies, and a dedicated artwork on the external eastern facade will enrich the building’s street presence, embedding it into the creative fabric of the neighbourhood.

&nbsp;

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Comme Prahran launches opposite Prahran Market

Apartment developer Third.i has seen "overwhelming interest" in its recently unveiled new harbourside apartment project, The Rushcutters.

<a href="https://www.apartments.com.au/new-apartments/the-rushcutters-51-57-bayswater-road-rushcutters-bay-nsw-2011">The Rushcutters</a>, which is being delivered in partnership with James Packer's NPACT, will comprise just 13 luxury two- and three-bedroom apartments.&nbsp;

Demand is predominantly coming from local downsizers.

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“We’ve been absolutely blown away by the level of interest in The Rushcutters,” said Luke Berry, Director and Co-founder Third.i Group.

“It’s clear that buyers are seeking more than just a place to live, they’re looking for a lifestyle upgrade. The ability to amalgamate apartments into expansive, whole-floor homes is a game-changer for downsizers who want space without the maintenance of a traditional house.”

The Rubinstein Group is marketing the project alongside Hume Residential and JLL.

“It’s no surprise that if you’re downsizing from a five-bedroom house in Bellevue Hill, for example, you want to maintain that sense of space and luxury when looking for your next home, "&nbsp;Gavin Rubinstein, Founder of The Rubinstein Group, said.

“The Rushcutters is a great fit. Amalgamating apartments to create a bespoke, whole-floor home is a natural progression for buyers who aren’t willing to compromise on size and/or quality.”

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Amalgamating apartments has become a common theme among high-end buyers across Third.i's portfolio including Muse in Potts Point, and Elevate Hume Place in Crows Nest, which set a Lower North Shore apartment record with the $15.1 million sale of an amalgamation of a penthouse and sub-penthouse.

“We’re witnessing a clear shift towards more amalgamations in a number of our projects across Sydney,” said Jason Fraser, Principal at Woods Bagot.

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“The ability to combine apartments is enabling buyers to create truly unique, house-sized residences with high-end finishes, and proximity to vibrant urban precincts. The desire to amalgamate apartments to bespoke, house-sized residences is becoming a defining feature of Sydney’s evolving luxury apartment market."

Due to the City of Sydney’s no net dwelling loss policy, Thirdi is only able to offer one level for amalgamation at The Rushcutters, combining two apartments into a single, expansive residence.

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The Rushcutters a "great fit" for downsizers

Lower North Shore developer <a href="https://www.apartments.com.au/developers/abadeen-group">Abadeen</a> has secured development approval for its ultra-luxury residential project on the <a href="https://www.apartments.com.au/new-apartments/34-burran-avenue-mosman-nsw-2088">dress circle Burran Avenue</a>.

The project, just&nbsp;50 metres from Balmoral Beach within Mosman’s prestigious Golden Triangle, will commence construction in early 2026,&nbsp;following the successful completion of its nearby Hampden Mosman project.

Lodged in April 2025 and approved in September 2025, the development will comprise three whole-floor residences, each designed to capture panoramic harbour views through Sydney Heads.

<img alt="34 Burran Avenue, Mosman" data-entity-type="file" data-entity-uuid="7f4c7816-0ac8-4ef7-be0a-8ef23b693b68" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/BURRAN%20EV01%20R04%20option%201%20%281%29.jpg?VersionId=gVzI8pT6_K59Nhzaz0FLEvY6Kj9Kc8Fg" />

Set on an elevated 550 sqm corner site at the junction of Burran Avenue and Stanton Road, the building has been designed to sit within Balmoral’s natural slope. The façade mixes stone and metal cladding with angular forms, while oversized terraces and full-height sliding doors create a connection between interior living spaces and outdoor entertaining areas.

The delivery team from Abadeen’s Hampden Mosman project, which includes construction company Reform Projects and interiors company Mathieson, has been retained to bring the same level of execution and craftsmanship to Burran Avenue.

<a href="https://www.apartments.com.au/architects/platform-architects">Platform Architects</a> has been appointed project architect, bringing extensive experience from recent luxury residential projects in Manly, Fairlight and Freshwater.

&nbsp;

Justin Brown, Executive Chairman and Founder of Abadeen, said sites of this calibre, this close to Balmoral, are incredibly rare.

“Burran Avenue is an extraordinary site; its location, its scale and its outlook make it truly one of a kind. Receiving DA approval marks an exciting milestone for Abadeen."

"We’re proud to be moving forward with an exceptional team to deliver a project that will set a new standard for ultra-luxury living on Sydney’s Lower North Shore. Construction is planned to commence in early 2026, and interest is already strong from discerning local buyers who recognise the uniqueness of this address."

Brown anticipates prices will set new Mosman benchmarks above $20 million. Sales are expected to launch in March 2026.

Abadeen approved for Mosman's priciest apartments

Retail Sale

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A two-storey retail asset on Swanston Street in Melbourne's CBD has set a new record building rate for a commercial property in Victoria, after selling for $9.2 million at auction.
It is the first building to come onto the market in the retail strip in five years.
273 Swanston Street sold on a yield of 2.13%, with more than 200 people attending the auction.
The sale of the 130 sqm building, leased to dumpling bar New Taipei, represented a new record rate of $70,769/sqm for the Melbourne CBD.
CBRE's Melbourne City Sales team of Alex Brierley, Julian White, Nathan Mufale and Chao Zhang managed the sale on behalf of the private family who owned the building for the past 70 years.
Eight local and international bidders fought to secure the asset, with a Malaysian investor outbidding several Melbourne families and rival parties from Hong Kong and Malaysia.
The building is next door to a McDonald's on the corner of Lonsdale Street and Swanston Street.
"As the first Melbourne CBD freehold auction in 2020, this was the first real test of the market and what we have witnessed is a continuation of the confidence buyers demonstrated in late-2019," Mr White said.
"Coupled with other recent Melbourne CBD sales, it also demonstrates the significant power of the auction as a method of sale for properties that are suited to public competition."
The result follows the sales of the Tsindos Greek Restaurant at 197 Lonsdale Street to a Taiwanese investor for $8.1m on a similarly tight yield of 1.29%, and the OPSM building at 384 Bourke Street for $22.5m on a 2.60% yield in December 2019.
"We are noticing many Asian buyers are recognising the rarity of these freehold assets within the CBD grid," Mr Zhang added.
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Swanson Street, Melbourne retail site breaks Victorian commercial property record

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The historic host of Brunswick East's Carbone Custom Made Clothiers has changed hands for the first time in 40 years.
Fitzroys agents Mark Talbot, Tom Fisher and Ervin Niyaz sold the prominent 297 Lygon Street building under the hammer on behalf of the New South Wales-based Richardson family.
Talbot said the sale price reflected a remarkably tight 2.0% yield, and a land rate of $4,352 per sqm.
Eclipsing that of the recent sale of 368 Lygon Street, which had a height allowance of seven levels, while the Carbone site has a height limit of five levels and is subject to heritage overlay controls
Set on a 618 sqm site, 297 Lygon Street has a single-level interwar Greek Revival brick showroom and warehouse building of 596 sqm, with the front portion utilised as a retail space and the rear for handcrafting and tailoring.
It has 16.85m of frontage to Lygon Street with rear access from Ann, Albert. and Trafford Streets.
Talbot said, “we received more than 60 serious enquiries during the campaign from all buyer groups, leading to competition between several bidders at auction."
Carbone has a short-term lease until September 2020 that returns $75,712 per annum.
According to Talbot, the new owner is a land banker.
Constructed through the late 1920s, the building was once home to Perfection Knitting Mills and from 1949 until 1970, 297 Lygon Street was occupied by shirt manufacturer Dorrens.
Fisher said the property was offered with an attractive Commercial 1 zoning, and a design and development overlay that encourages development of up to 17m in height.
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Historic Brunswick East retail freehold competed for under the hammer

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A local investor has paid $508,000 for a Little Collins Street retail investment at a record $39,077 psm rate for a strata titled CBD retail property.
The deal, brokered by Teska Carson‘s Gideon Marcus, was for shop 11, 530 Little Collins Street in the Exchange Tower building.
Situated on the building’s ground floor, the property comprises a 13 sqm space currently leased to Exchange Tower Newsagency on a five year term from August 2015 with a five year option.
The property has a current rental income of $47,896.68 plus GST.
Featuring three street frontages the shop has pedestrian access via Little Collins Street, Church Street and Union Place.
The 12,230 sqm Exchange Tower comprises ground floor and mezzanine level retail tenancies and 207 upper level office suites which are fully occupied housing approximately 1000 workers.
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Local investor purchases Lt Collins retail property at record $39,000 psm

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The film maker Ian Darling has bought the Woollahra commercial office premises he'd been renting in the heart of Woollahra's Queen Street shopping precinct.
The off market $10.9 million trade was the highest commercial sale on the pricey retail Queen Street strip.
The only prices higher have been leisure assets including the Woollahra Hotel, which fetched $23,681,000 when sold in 2015, plus the business value which took the reported acquisition costs to around $30 million. 
Real estate agency Goodyer had previous occupied the second level at <a href="http://www.commercialview.com.au/109-queen-street-woollahra-nsw/commercial-for-lease-details-11185296" target="_blank">109 Queen Street</a> which Darling secured recently.
Wholefoods had been a retail tenant. It has been the headquarters of the Pongrass Property Group.
It was sold by the Yared family.
Darling is the founder and executive chair of Shark Island Institute and executive director of its production arm, Shark Island Productions, a documentary company.
His documentary credits as a producer, director and executive producer include Suzy &amp; The Simple Man, The Genesis and The White Blindfold among a number of others.
Last year he was named Australia's Leading Philanthropist by Philanthropy Australia.
The highest price paid for a house on Queen Street is $13 million, set in 2016 when style-setter and former Vogue staffer Rebecca Caratti bought the renocated Clyde Cottage in Woollahra.
Caratti, daughter of Perth earth moving tycoon John Caratti, emerged as the buyer of the home that belonged to one Singapore's richest people, Ronald Anthony Ooi and his wife Erica Han.
They bought it as a run down cottage for $4 million in 2011.
 
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Highest commercial price ever on Queen Street, Woollahra 

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A property in Sydney’s Darlington leased to a cafe has fetched $1,000,000.
The retail space at <a href="https://www.realcommercial.com.au/property-retail-nsw-darlington-502612834" target="_blank">7/245-249 Abercrombie Street</a> was advertised for auction on November 30.
The property is rented out to the well-known café operator “Choco-Latte which is on a new five-year lease.
It earns $42,681.00 per annum net plus GST.
The property has an internal lettable area of 54 sqm and the zoning is B1 - Neighbourhood Centre.
The selling agent was John Race of Khoury &amp; Partners.
It previously traded for $680,000 in 2016 and for $530,000 in 2006, data from CoreLogic shows.
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Cafe in Sydney's Darlington snapped up for $1 million

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A family-run pizza shop in Sydney’s inner fringe suburb of Potts Point has closed its doors after 32 years selling pizzas.
Macleay’s Pizza was located at <a href="https://www.realcommercial.com.au/property-retail-nsw-potts+point-502624042" target="_blank">Shop 3, 101-103 Macleay Street</a>, and was packed out for its last day of trade in October.
The property is now on the market for sale with a price tag of $1.3 million.
Owner Michael Maccelli’s speciality was the traditional thin crust bases he started working on from his school holidays as a teenager after his father Sam and uncle Joe opened the business in 1985, the Wentworth Courier reported.
“My memories are of all the different characters we’ve had in here over the years; we’ve had sports stars, celebrities and lots of regulars who come because it’s a consistent, good feed with a family atmosphere,” Maccelli said.
The listing agents are Simon Hohnen and Trisiana Muljono of Sydneylinks Real Estate in conjunction with <a href="http://www.laing.com.au/3970737/" target="_blank">Laing Estate Agents</a>. 
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Family-run pizza shop in Potts Point closes

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Sydney's Kazal family has sold Circular Quay retail space - leased to Management International Group and trading as Buckley's Craft Beer Bar - for $21.5 million.
It reflected a tight net yield of 4 per cent.
The new owners of Shop 18A Opera Quays, 7 Macquarie Street plan to hold the high-performing asset for the long term.
The 408 square metre strata-titled property has 256 square metres of lower ground promenade space as well as 137 square metres in mezzanine space which features a fully operational commercial kitchen, walk-in cold storage and private staff meeting rooms.
The restaurant with a hotelier's licence can hold 500 patrons. A lease with options is in place until 2024.
There are 18 other similar lots on the high-profile promenade, which leads to the Sydney Opera House.
"Buckley's Bar is strategically located with a large outdoor seating component with direct water views, with these features making this retail strip one of the most tightly held precincts in the Sydney CBD," selling agent Cushman &amp; Wakefield's Anthony Bray told Fairfax Media.
It follows another Circular Quay asset sold earlier this year when the 131 square metre Shop 12 at 1 Macquarie Street sold for $10.2 million in an off-market sale, at a net yield of 3.15 per cent.
Mr Bray brokered the sale with colleague Ryan Cross.
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Sydney's Kazal family sell Circular Quay retail space

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Aventus Property Group has purchased Home Hub Castle Hill and Home Hub Marsden Park for $436 million, beating off competition from Gerry Harvey to buy the two centres.
The sale represents a weighted average capitalisation rate of 5.6 percent.
Home Hub Castle Hill was purchased for $336 million at a fully leased yield of 5.50 percent and Home Hub Marsden Park for $100 million at a fully leased yield of 6.00 percent.
Simon Rooney, JLL’s head of retail investments, Australasia, said there is a very limited number of major, core assets in the LFR sector across Sydney, so these presented a rare opportunity to acquire significant scale in the sector.
"The sale of Home Hub Castle Hill and Home Hub Marsden Park was the largest homemaker transaction in Australia’s history," he said.
“The yield achieved resets the benchmark for premium large-format retail assets and represents a new record low for the sector.
"For this particular transaction, investors were forward buying growth by pricing in the potential for strong cash flow and rental uplifts.
"The fundamentals of both assets are well supported by population growth in each catchment of 1.8 percent for Castle Hill and 2.1 percent for Marsden Park, said Rooney.
The portfolio was marketed by JLL in conjunction with McVay Real Estate on behalf of LaSalle Funds Management Limited.
Home Hub Castle Hill features a total of 52,004 sqm built over two multi-level centres and includes parking for 1,490 cars on a combined site area of 59,820 sqm.
Tenants include The Good Guys, Nick Scali, JB Hi-Fi, Harvey Norman, Officeworks, Toy ‘R’ Us &amp; Babies ‘R’ Us, Domayne and Freedom, and 64 specialty retailers.
Home Hub Marsden Park is on 19,832.6 sqm, with parking for 451 cars and a site area of 39,900 sqm. It is securely leased with long-term tenure to JB Hi–Fi Home and The Good Guys and features 22 large format and 10 food-based retailers on ground and 7 tenancies on an upper level.
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$436 million sale of Home Hub Castle Hill and Marsden Park

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A Big W-anchored retail centre at Cessnock in regional NSW has sold for $13.2 million on a passing yield of 7.6 percent in an off-market deal through Savills.
The 10 Darwin Street centre was sold 89 percent leased with a net annual income of just over $1 million and at a $/sqm rate of $1,648. The buyer was a Sydney-based private investor. 
Completed in 2006, the purpose-built retail complex comprises two separate buildings including a Big W discount store and two additional specialty tenancies in one building and three separate, large format, tenancies in the other. 
The 8,009 sqm of gross lettable area, which also includes Supercheap Auto and Repco, sits on a 19,290 square metre site. 
The deal was brokered by Savills’ Steven Lerche and Andrew Palmer. 
Lerche said the Cessnock centre is an attractive proposition offering a strong local catchment backed by robust regional population and employment growth and a more attractive income yield than comparable metropolitan assets.
The property had a short WALE due to a lease tail of only 4.5 years to Big W. 
“Demand for retail property investments remains at an historical high and so it was no surprise that we were able to place the property off market, especially given the tight yields for convenience anchored centres,’’ Lerche said.
The Cessnock vendor was a Melbourne-based investor. 
Big W, which is owned by Woolworths, reported a loss before interest and tax of $27.2 million in HY17 which includes a non-cash charge of $35.3 million, the company said in a note to investors. 
"We are currently reviewing the BIG W strategic plan and this will be completed in the next few months," said Woolworths CEO Brad Banducci, Woolworths CEO, in a press release as part of the company's half-year earnings for the six months ended December 31 
Woolworths reported a fall of 16.7 percent in its net profit after taxes from continuing operations although sales increased by 2.6 percent over the comparable period in the previous year.
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Cessnock Big W centre fetches more than $13 million in off-market deal by Savills

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Immigration Minister Peter Dutton and wife Kirilly have paid $760,000 for a commercial investment property in Townsville.
He's bought three retails spaces in <a href="https://www.realcommercial.com.au/property-retail-qld-wulguru-501840974" target="_blank">Edison Plaza</a>, a retail shopping centre in Wulguru.
He's sought tenants for all three spaces.
The property came with $1.1 million price hopes and had been on the market for over 500 days.
<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/2017/02/14/Peter1.jpg" alt="" width="514" height="228">
Elders Real Estate Townsville agent Glenm Adair sold the property.
The investment property takes his total portfolio up to five rental properties.
The most notable is the four bedder at Queensland's Palm Beach that cost the couple $2.3 million early last year.
They have two properties in the Sunshine State and another in Canberra. They live at Camp Mountain, north-west of Brisbane.
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