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

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

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

Lender, fund manager and apartment developer Princeton has completed <a href="https://www.apartments.com.au/buildings/marque-rockdale-602-608-princes-highway-rockdale-nsw-2216">Marque Rockdale</a>, the first new apartment development in South Sydney to provide its owners with a 10-year Latent Defects Insurance policy, the most comprehensive insurance available for a new apartment building.

The policy has been a key consideration for prospective purchasers of the 58 one-, two-, and three-bedroom apartments, strategically located between&nbsp;Rockdale Plaza and Rockdale Station.&nbsp;

Buyers have also been drawn to the fact that it is one of few new apartment developments delivered in the suburb in the last 10 years, and the only one located on Princes Highway to be set well back from the street to reduce noise. There's also a communal rooftop, a rarity in the suburb, complete barbecue facilities, landscaped seating areas, a children's play zone and herb gardens.

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Ray White Projects’ Matt Otway said buyer enquiry reflected the increasingly diverse and cosmopolitan population that has made Rockdale home.

“We’re seeing strong interest from a broad mix of buyers, including young professionals and people who have rented in Rockdale and the surrounding suburbs and now see Marque as an opportunity to buy a brand-new apartment in an area they already know,” Otway said.

“Proximity to the CBD and Sydney Airport is another key advantage particularly for buyers working in these locations who want the added convenience of living close by.”

Investors have also been attracted to the project, with rental yields of more than five per cent, which is considered a strong result for the Sydney market.

[smartcode_project:default project_id=136442 project_image_fid=374090]

Adding another layer to the buyer proposition is Marque's 10-year Latent Defects Insurance policy from Resilience Insurance, making it the only new apartment development in Rockdale to offer the cover.

The policy protects apartment owners against major structural and waterproofing defects for 10 years following completion, giving Marque purchasers cover until early 2036 at no additional cost.

The likelihood of defects emerging has also been mitigated through the Technical Inspection Service (TIS), which saw independent experts inspect the building at various stages throughout construction to identify potential issues during the build, rather than after the fact.

SDSS, which provided the TIS, consistently ranked the construction quality at Marque, undertaken by iCIRT-rated builder Coplex, among the best across its extensive portfolio of projects.

[smartcode_project:default project_id=136442 project_image_fid=374088]

Otway said the LDI had become a major drawcard for buyers, particularly given Rockdale has seen relatively little new apartment development over the past decade.

"Rockdale hasn't had a lot of new apartment buildings in the last decade, and has never had a project with 10-year defect insurance," Otway said.

"Marque presents a truly rare opportunity at an affordable price point, so well connected to the Sydney CBD."

One-bedroom apartments at Marque start from $735,000.

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Marque Rockdale completes as South Sydney’s first apartments backed by 10-year defect insurance

Sydney developer <a href="https://www.apartments.com.au/developers/odus">ODUS Property Group</a> is continuing to expand its local Gold Coast development pipeline, filing plans for a new 40-storey tower in the Southport CBD.

Odus, which bought two luxury Main Beach projects, now La Mer and Le Reve, to make its move into the booming Gold Coast apartment market, has secured its third site. But it is tweaking the plans for a previously proposed 50-storey skyscraper, now seeking to deliver 40 storeys.

The project, dubbed <a href="https://www.apartments.com.au/new-apartments/80-marine-parade-74-80-marine-parade-southport-qld-4215">80 Marine Parade</a>, sits on a prime&nbsp;2,032 sqm amalgamated corner site at 74–80 Marine Parade and 4 Welch Street, across the road from the Gold Coast Aquatic Centre. It will have unobstructed, never-to-be-built-out views to the east given its position opposite the Broadbwater Parklands.&nbsp;

The plans are for 316 apartments, ground-floor retail, and resort-style resident amenities. The project sits within Precinct 1 (Central Business District) of the Southport Priority Development Area, where high-density residential and commercial development is actively encouraged.

BGD, ran by Bayden Goddard and the architecture firm behind Le Reve, has revised the original concept plans, substantially reworking the built form. Basement parking has been replaced by an expanded podium designed to improve functionality while reducing the tower's overall visual impact.&nbsp;&nbsp;

<img alt="First look: Odus Property Group plots landmark 40-storey tower for Southport's Broadwater gateway" data-entity-type="file" data-entity-uuid="0f13d065-2cf5-45ec-aa17-1a03754d93d8" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Southport%20da%202.png?VersionId=.9QS2n7kBc_U3PyaI247uOyNSXIqnXSE" />

The tower rises above the eight-storey landscaped podium with a distinctive architectural language defined by sweeping arches, integrated greenery, bronze-toned glazing, and a sculptural rooftop crown.

The development will comprise 104 one-bedroom apartments, 208 two-bedroom apartments, and four four-bedroom penthouses across levels 9 to 36. Apartments are designed to accommodate both permanent residents and short-term accommodation within the same building.

A double-height lobby and reception will anchor the ground floor alongside a 23 sqm food and drink outlet, activating the Marine Parade frontage.

Parking will be accommodated within the podium, providing 288 vehicle spaces and 74 bicycle spaces, accessed from Welch Street.

<img alt="First look: Odus Property Group plots landmark 40-storey tower for Southport's Broadwater gateway" data-entity-type="file" data-entity-uuid="d7528b91-2c47-4094-98b3-5eecbacc0041" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Southport%20da%20podium.png?VersionId=efF5oWs4T9PDvxJwJEDHu5kSQ5eE3IBy" />

Residents will have access to an extensive suite of amenities spread across multiple levels. A podium recreation deck will include a swimming pool, spas, sauna, steam room, cinema, residents' lounge and children's games room, while a second wellness level near the top of the building will feature a gym, co-working spaces, reading room, dining areas and communal kitchen. Extensive podium landscaping wraps the building to soften the built form and strengthen its interface with the surrounding streetscape.

The planning report notes the project responds directly to Southport's ongoing urban transformation.

"Consistent with much of Southport, the surrounding area is undergoing significant transition, with many older low-rise developments progressively being redeveloped for higher-intensity urban outcomes, as envisaged within Precinct 1."

It also states that the proposal "will contribute to a defined and legible eastern gateway to the Southport CBD, reinforcing the area's high-density urban character while maintaining a strong visual connection to the adjoining public open space network."

<img alt="First look: Odus Property Group plots landmark 40-storey tower for Southport's Broadwater gateway" data-entity-type="file" data-entity-uuid="0b9fdebd-4b35-400b-a287-6bd1cdbcdb1b" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Southport%20da.png?VersionId=4LG35XR5mfir7jvG2TShtQx.utMLYBxu" />

Located opposite the Broadwater Parklands, the site enjoys immediate access to the Gold Coast Aquatic Centre, Australia Fair Shopping Centre, TAFE Queensland Southport campus, the G:link light rail corridor and Southport's established commercial precinct. The location places future residents within one of the Gold Coast's fastest-evolving mixed-use centres, where numerous high-rise residential projects are reshaping the CBD skyline.

Odus is headed by development professionals Byron Sakha, Jarrod Younan and Sebastian Younan. The Younans also head family-owned builder Nazero Constructions, established in the 1960s.

They are currently delivering La Mer, 24 luxury apartments on Main Beach Parade, and Le&nbsp;Rêve, on the same street but on the prized beachfront side of the sought-after strip.

ODUS plans landmark 40-storey tower for Southport's Broadwater gateway

A boutique collection of just 10 residences could become the catalyst for the next phase of renewal along the southern end of Surfers Paradise Boulevard, with new plans laid for a mixed-use tower designed to transform a long-vacant site.

The proposal for <a href="https://www.apartments.com.au/new-apartments/3098-surfers-paradise-boulevard-surfers-paradise-qld-4217">3098 Surfers Paradise Boulevard</a> has been conceived as more than a standalone residential project. Designed by <a href="https://www.apartments.com.au/architects/bda-architecture">BDA Architecture</a>, the development aims to spark the revitalisation of what the design team describes as the "South Boulevard" precinct, creating an active streetscape with retail uses at ground level beneath a collection of full-floor luxury residences.

The application, by PR Property Holdings, an entity directed by the Brisbane-based Ryan and Petrovic families, seeks approval for a 17-storey, 62.2-metre mixed-use development on a compact 427 sqm site between Surfers Paradise Boulevard and Appel Street.

The project will comprise just 10 apartments, including eight full-floor residences and two duplex apartments, positioned above a two-level retail podium. Three podium parking levels will accommodate 26 vehicle spaces, while a recreation deck is proposed on Level 4.

<img alt="First look: PR Property Holdings plans boutique apartment tower to kickstart Surfers Paradise's 'South Boulevard' revival" data-entity-type="file" data-entity-uuid="46cfa37d-5051-4449-8d8e-6724f8ca0d59" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Article%20Feature%20Image%20%28Grid%29_8.png?VersionId=e7UkeV1eTZAC2lXhdq72E3jpUbwiFD2t" />

Rather than pursuing apartment volume, the proposal focuses on large-format homes with a slender tower form intended to maximise outlooks while limiting visual bulk.

BDA Architecture said the proposal has been designed to become an urban renewal catalyst for the precinct.

"The ambition of 3098 Surfer's Paradise is that it provides the catalyst for incremental infill redevelopment and upgrade of what is coined the 'South Boulevarde' of Surfers Paradise which connects to the beating heart of Cavill Avenue."

The architects added: "An incremental approach to development that provides quality ground plane interface, human scale design, integrated subtropical landscape and semipublic permeable frontage can over time entirely upgrade a precinct."

The architecture adopts soft curves, articulated balconies and a slender tower profile rising from a human-scaled podium. The design report describes the project as delivering "bespoke residences of enduring distinction, sculpted with precision and quiet sophistication," with a focus on timeless coastal architecture.

The application also includes retail tenancies addressing Surfers Paradise Boulevard, reinforcing the site's role as an active mixed-use destination rather than a purely residential address. The planning report states the combination of the podium, landscaping and active frontage is intended to strengthen the pedestrian experience while contributing to the evolving character of the boulevard.

The site occupies a prominent position in the southern section of Surfers Paradise, directly opposite the G:link light rail corridor and within walking distance of Surfers Paradise Beach, Cavill Avenue, the Nerang River and Bruce Bishop Car Park. It is currently vacant, having previously accommodated a single-storey commercial building that was demolished in 2022. The planning report notes the surrounding area is characterised by a mix of commercial buildings and residential towers, with unlimited building height provisions applying under the Centre Zone.

The proposal also replaces an earlier 2022 approval for a restaurant and bar on the site, instead introducing a permanent mixed-use development that combines retail activation with boutique residential living.

Boutique apartment tower to "kickstart" Surfers Paradise's 'South Boulevard' revival

Retail Sale

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A tenanted investment leased to surfing retailer Noosa Longboards on the Hastings Street tourist strip at Noosa Heads has sold for $4 million to a local investor.
The sale price of the 92 sqm retail outlet at 2/55 Hastings St, Noosa Heads, reflected a net rate of $43,478 per sqm and yield of 5.35 per cent.
The selling agents were Ray White Commercial’s Paul Butler and Paul Forrest. 
“The 5.35 per cent return shows a continued strengthening in Hastings St, as the last sale was 5.45 per cent for a superior freehold property,” said Butler.
“In this case we had a local buyer looking for solid performing properties. There is limited quality stock available as the high volume of sales throughout 2016 has significantly decreased stock.”
Forrest said Shop 2, 55 Hastings St enjoys a high profile with excellent pedestrian and vehicular traffic flow and was returning net rent of $225,000 per annum. Nearby shops include Hugo Boss, Blue Illusion, Aroma’s, Kookai, Lorna Jane and Gazman.
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Noosa Heads shop leased to Longboards fetches $4 million

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A Woolworths-anchored shopping centre in Queensland’s Noosa is on the market through Savills and CBRE.
The <a href="https://www.realcommercial.com.au/property-retail-qld-tewantin-502139610">86 Poinciana Avenue, Tewantin, Qld 4565</a> property is fully leased with tenants comprising leading brands such as Gloria Jeans Coffee, Subway and BWS.
The 3,106 sqm shopping centre was completed in 2006 and 80% of the gross floor area is leased to Woolworths and BWS. Woolworths is on a 20-year lease with options until 2046.
The shopping centre earns a net income of $1,022,294 pa and is in the “high street” precinct close to Noosa Heads, according to the property’s description.
The property was last traded in 2013 for $12 million, according to CoreLogic RP Data.
The shopping centre presents a rare opportunity to enter the tightly held Noosa market. It is for sale by expressions of interest closing November 10.
The listing agents are Jon Tyson and Peter Tyson of Savills and Joe Tynan and Peter Rossi of CBRE.
The Poinciana Place Shopping Centre, anchored by Woolworths, includes an additional 10 tenants – offering a long WALE of 8.05 years by area and 6.59 years by income.
<img src="/images/2016/10/17/Woolies2.jpg" alt="" width="511" height="368">
Earlier this year there was the $16 million sale of the Noosa Junction Plaza shopping centre on the Sunshine Coast.
It has been snapped up by OzProp, an acquisitive Queensland-based boutique property investment firm.
The neighbourhood shopping centre is at the gateway to Noosa Heads, anchored by a SUPA IGA supermarket and Target Country store.
The sale of the asset was negotiated by Peter Tyson, the third time he and Savills have sold the centre over many years.
A fully tenanted shopping complex at Tewantin on the Sunshine Coast sold at auction late last year for $6 million after being put on the market for the first time since it was built more than 20 years ago.
The Noosa Outlook Shopping Centre at 63 St Andrews Drive, Tewantin, was sold to a private investor by Ray White Commercial Noosa and Sunshine Coast North Directors Paul Butler and Paul Forrest on behalf of a local investor for a passing yield of 7 per cent.
Paul Forrest said the marketing campaign for the IGA Supermarket anchored shopping complex attracted almost 100 enquiries and there were eight registered bidders at the on-site auction.
“More than 50 people attended the auction and we had particularly strong interest from local investors who recognised the strength of the centre which is returning net rental income of approximately $421,000 per annum,” he said.
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Woolworths shopping centre in Noosa listed for sale

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League legend Steve Mortimer has put a $930,000 asking price on his Rushcutters Bay investment property.
It was listed for recent auction with plans to put the profits into his shuffleboard business.
The <a href="https://www.realcommercial.com.au/property-retail-nsw-rushcutters+bay-502112754">2/84-90 McLachlan Ave</a> McLachlan Cafe premises are leased with a net income of $56,600 per annum.
The former Bulldogs bought the ground floor property in 2010 for $760,000.
About $900,000 had been given in pre-auction price guidance.
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jchancellor-FAypfDUnLy

League legend Steve Mortimer's $930,000 Rushcutters Bay cafe offering

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The developers of the Pacific Bondi, Rebel Property Group's Allen Linz, Capit.el Group's Eduard Litver along with Gil Baron have splashed out $19.12 million for one of Bondi Beach's most iconic retail premises, the 1951 Bates Milk Bar.
<a href="https://www.realcommercial.com.au/property-retail-nsw-bondi+beach-502077466" target="_blank">The 124 Campbell Parade corner milk bar</a> was known for its choc-malt milkshakes until its closure in 2001.
It sold at just over 3 percent given heavy competition from developer, Theo Onisforou who was the underbidder for the premises on the corner of Campbell Parade and Hall Street.
Developer Danny Avidan, who recently secured the Bronte RSL site, also attended the 45 minute auction which saw a $10 million opening bid.
The buyers plan to redevelop the property which is currently leased to retailers Platypus Shoes, Natalie Alamein, Mezi Retail and Gelatissimo.
This article was first published in the Saturday Daily Telegraph.
 
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Bates Milk Bar at Bondi Beach sells for $19.12 million

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A freehold commercial property on Sydney’s famous Coogee Beach leased to a cafe recently changed hands for $3.35 million.
The property at 252 Coogee Bay Road is three levels.
It returns $173,900 + GST p.a. 
Zoned B2 Local CTR with fully licensed cafe/restaurant, the property has potential for further development subject to council approval. 
The land area is about 140 sqm with a floor area of nearly 240 sqm.
The selling agent was Mark Fragias of Ray White who marketed it as "situated on iconic Coogee Beach with prominent Coogee Bay Road location and metres from Ardent Street facing North/South and positioned directly opposite major commercial landmark Coogee Bay Hotel."
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Cafe on Coogee beach changes hands for $3.35 million 

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A tenanted retail/office space at Toorak in Melbourne’s inner south-east has been sold for $760,000 for a yield of 5.6 percent. 
The ground floor tenancy at 7/521 Toorak Road spans nearly 110 sqm. 
The property is leased to a quality tenant and returns net rental income of nearly $43,264 per annum.
Ray White Commercial’s Paul Rizzo brokered the sale on behalf of a private owner.
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Office space in Melbourne’s inner suburb sells for $760,000

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An 1880's mixed-use site in Pyrmont has been snapped up by Bar Cupola Catering Pty Ltd.
They paid $3.225 million for the <a href="https://www.realestate.com.au/property-house-nsw-pyrmont-122433502" target="_blank">447 sqm Victorian building</a> which offers retail, office and residential uses.
The residential aspect has three bedrooms and three bathrooms, with numerous kitchens and two fireplaces also part of the building.
At the time of the sale the building’s income was around $149,500 per annum.
The building last traded in 2010 for $2.74 million.
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Mixed use Pyrmont premises sold

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A shopping centre at Helensvale near Surfers Paradise has sold for $9.85 million to a private investor on a tight yield of 6.7 percent through Savills.
Monterey Keys Shopping Village’s tenants include a mix of food, service and medical stores, including an IGA Supermarket and Jetts Fitness outlet.
The sale was brokered by Peter Tyson and Jon Tyson of Savills Retail Investments following an expressions of interest campaign. 
Located at 175 Monterey Keys Drive at Helensvale, the single-level centre comprises two buildings set on a 9,961 sqm site, with the current gross lettable area of nearly 2,000 square metres representing a low site cover of circa 20 percent.
“This sale continues a strong run of retail sales on the Gold Coast and highlights the increasing demand from investors seeking yield in a low interest rate environment,” said Tyson.
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Gold Coast convenience centre sells for $9.85 million on tight yield

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Hoteliers the Grove family have bought back The Indian Ocean Hotel in Western Australia’s Scarborough from the receivers, shortly after it was put up for sale.
The family acquired it for an undisclosed sum, but it had been offered for about $18 million on a 7 percent yield when first put on the market more than a year ago, according to a report in The Australian Financial Review. 
The 59-room, 3.5-star hotel on Hastings Street in the city's north-western suburbs was being marketed by CBRE Hotels’ Ryan McGinnity and David Kennedy under instruction from the receivers and managers appointed, HLB Mann Judd (Insolvency WA). 
The marketing campaign closed on May 12.
The five-level, 59-room hotel includes Indi Bar and Bistro, and has hosted some of Perth’s best live music over the past two decades, including Rolling Stones, The Waifs, John Butler and Dave Hole.  
The hotel, built in 1972, was placed in the hands of receivers in April after the death of majority owner Bill Grove, said the AFR report. 
It was originally called the White Sands Hotel. The Grove family took over as managers in 1985 and renamed it the Indian Ocean Hotel in 1990.
Hotel owner Andrew Grove and CBRE’s selling agents declined comment to the AFR, but the paper cited a source close to the family as saying that "The property and business is now back in the hands of the family who have owned the property for over 30 years” and they are “excited to be in control of the business and property again”.
Located within the Metropolitan Redevelopment Authorities’ $57.4 million Scarborough Redevelopment Area, the Indian Ocean Hotel offers potential for future development, with a residential 160 zoning and additional special use as hotel. 
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Grove family buy back Indian Ocean Hotel in WA's Scarborough

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A parcel of fully leased freestanding buildings with duel frontage including the prestigious Forest Road in Hurstville is up for sale.
<a href="https://www.realcommercial.com.au/property-retail-nsw-hurstville-501968474" target="_blank">The commercial buildings</a> go to auction June 17 through Gunning Real Estate who expect a passive investor to have the winning bid.
The properties including international hotpot franchise Simmer Huang Hurstville, Eden Espresso Bar, gift shop EI Goods and Tongzhou Yoga studio.
Gunning associate director James McKenny said the 432.9 sqm site which has a combined building area of circa 577 sqm is perfectly located.
“It is a trophy location and ticks all the boxes with its position close to key infrastructure and strong customer foot traffic,” he said.
 
“Forest Road buildings are prized assets and rarely change hands.
He also said that it is a perfect deal for an investor.
"With an excellent mix of established tenants, coupled with its excellent position and potential this is the ideal investment opportunity."
“Investors can benefit in the short term from a secure income stream from the established tenants with an average weighted lease expiry of three years.
“With interest rates at record lows and development in strategic centers continuing to boom this will see the property continue to experience strong future growth in rents and capital values."
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