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

Joel Robinson

PDG unveils plans to transform landmark Ivanhoe Water Tank Site

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

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

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

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

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

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

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.

[smartcode_project:default project_id=136442 project_image_fid=374084]

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.

[smartcode_project_cta:default project_id=136442]

Marque Rockdale completes as South Sydney’s first apartments backed by 10-year defect insurance

Retail Sale

<html><body>
A 2,300 square metre retail premise sitting next to the site for Western Australia’s first Aldi store in Perth’s Champion Lakes has been snapped up by a private investor for $1.05 million.
The 125 Westfield Drive site comprises a freestanding property occupied by Champion Lakes Car Wash and Chicken Treat, securely leased until 2022 and 2019 respectively.
Champion Lakes is nearly 30 kilometres south-east of the Perth CBD.
The deal was brokered by CBRE’s Michael Milne and Richard Cash.
“Situated adjacent and in front of the Champion Lakes Shopping Centre, this property will benefit from the centre’s major refurbishment and expansion, which will include the state’s first Aldi supermarket, opening in June this year,” Milne said.
</body></html>

prateek24-ezbwHMbNAk

Retail site in Perth next to upcoming Aldi store sells for $1.05 million

<html><body>
A milk bar with a three-bedroom house at the rear in Melbourne’s Springvale sold recently for $540,000.
According to selling agent Leyton Real Estate, the milk bar on <a href="https://www.realcommercial.com.au/property-retail-vic-springvale-501789442" target="_blank">68 View Road</a> was the perfect way to enter the Springdale commercial property market.
<img src="/images/2016/02/03/Screen%20Shot%202016-02-03%20at%203.30.48%20PM.png" alt="">
The corner property is in an area classified Business Zone 1.
It last sold in mid-2014 at $403,888 and in 1988 at $250,000.
<img src="/images/2016/02/03/Screen%20Shot%202016-02-03%20at%203.30.43%20PM.png" alt="">
The rent is $16,500 including GST with an annual increase of 4 percent per annum.
The land area is 210 square metre with a floor area of 70 sqm.
The property is on a three-year lease which started in 2014 and has options for renewals.
<img src="/images/2016/02/03/Screen%20Shot%202016-02-03%20at%203.30.54%20PM.png" alt="">
The dwelling at the rear comprises a kitchenette, separate bathroom and secured car space with rear entry.
</body></html>

j.ballantyne1990-6AQqhLzZaK

Corner milk bar in Melbourne's Springvale sells for $540,000

<html><body>
A Melbourne-based syndicator has secured two North Queensland retail centres in a combined deal worth $23.75 million.
The <a href="https://www.realcommercial.com.au/property-retail-qld-townsville+city-501646325" target="_blank">Rising Sun Shopping Centre</a> in Townsville and the Town Plaza centre in Charters Towers were sold through an expressions of interest campaign by Savills.
The blended initial yield works out to be around 7.5%.
The 9,393 square metre Rising Sun Shopping Centre at Mundingburra, six kilometres from Townsville CBD, is anchored by a 2,243 square metre Coles supermarket, with 11 specialty shops including Subway, Brumby’s Bakery and Chemist.
The 7,782 square metre Town Plaza Shopping Centre in Charters Towers, 137 km from Townsville, has a 2,579 square metre Woolworths supermarket with nine specialties including Suncorp, Millers and Rockmans.
The deal was brokered by Peter Tyson and Jon Tyson of Savills for MAB Funds Management Ltd. 
Fawkner Property purchased the properties, bringing the total assets under management to more than $150 million.
The information memorandum forecast 100% tax-effective distributions of 7.5% for the 2106 financial year.
"The market liked the strong economic background story associated with the Townsville Region given the diverse employment generators of the region which includes defence, education, mining, tourism and grazing," said Jon Tyson.
"This backdrop coupled with the Coles and Woolworths anchors and relative affordable price point of the assets generated wide ranging buyer interest."
“Property syndicates are especially attractive to the trustees of self-managed superannuation funds, looking for steady monthly income,” said Fawkner MD Owen Lennie.
</body></html>

Two North Queensland retail centres sold for $23.75 million through Savills

<html><body>
The Banora Central Shopping Centre, south of the Gold Coast, has sold for $19 million to a private investor at a passing yield of approximately 6.49%.
The 13,340sq m site on the corner of Leisure Drive and Fraser Drive at Banora Point, was built in 2007 and features a Coles supermarket, three specialty shops, one kiosk and two ATMs and extensive partly covered grade-level parking. 
Jon Tyson of Savills said with only four specialty tenants, the asset offered strong income security and little or no leasing risk. 
"This feature, coupled with a low management requirement, was of particular appeal to investors," he said.
"It was this income security and ease of management that set the centre apart from other assets."
 
</body></html>

mick.cee-iDmgDDAmu8

Gold Coast's Banora Central Shopping Centre sells for $19 million

<html><body>
Mount Gambier Central, a sub-regional shopping centre in the largest regional town in South Australia, has sold for $24.5 million.
The centre is anchored by Kmart and complimented by mini-major retailers, including Best &amp; Less, The Reject Shop, Gambier City Chemmart Pharmacy, 37 specialty shops, two kiosks and four ATMs.
Mount Gambier Central is a single-level predominantly enclosed and air-conditioned shopping centre developed in 1986. Upgrades in 1997 and 2010 provided modern entrances, malls and store fit-out.
It has a gross lettable area of 12,781 square metres plus decked parking for 532 cars.
The selling agents were Peter Isaksson, Rino Carpinelli and Steven Lerche of Savills.
Carpinelli said the sale highlighted the strong investor demand for well located, high quality sub-regional shopping centres.
“This centre is well supported by local and passing trade due to its strategic positioning in the heart of the Mount Gambier CBD, a major regional town servicing some 65,000 residents and a key transport hub mid-way between Adelaide and Melbourne,” he said.
The property’s large site of 2.924 hectares also provides the potential to redevelop the vacant pad site adjacent to the main shopping centre.
</body></html>

Mount Gambier Central shopping centre sells for $24.5 million

<html><body>
A securely let retail property within the Ormond Village shopping strip in Melbourne has been snapped up by a private investor at a yield of 3.1% at auction.
Located at <a href="https://www.realcommercial.com.au/property-retail-vic-ormond-501705825" target="_blank">750 North Road</a>, the property comprises a single level, 180 square metre building on a 220 square metre site with parking at the rear and frontage to North Road.
The property was sold subject to a five-year lease with a further five-year option to Coffee Tribe at a rental of $22,000 per annum net.
The winning bid was for $690,000, more than $90,000 above the vendor’s reserve, said selling agent George Takis of Teska Carson.
"This was a property which drew very good enquiry due to the very affordable price range, the fact that it offered the security of a virtually new five-year lease, and the general market factors such as low interest rates, share market volatility and the recent increase in non-residential investment," said Takis.
"Investment properties in the circa $1 million and under price range have and will continue to entice strong enquiry especially while interest rates remain so low.’’ 
</body></html>

Investor buys Melbourne's Ormond retail at 3.1% yield

<html><body>
The popular Four In Hand in Paddington is the latest hotel to hit the market.
The owner of the past 25 years has decided to take advantage of the current red hot hotel sector which has seen the nearby Woollahra Hotel fetch $30 million plus.
The Royal Hotel in Paddington was also recently sold to the Waugh brothers' Public House Group for $15 million and the Light Brigade Hotel was bought by the Bayfield Family for $9 million.
In the past year, more than than $200 million of pubs assets have changed hands as pubs have returned to favour, particularly around the suburbs, to avoid the new late-night lockout drinking rules imposed on the city and some fringe areas.
The Four In Hand has been <a href="https://raywhitehotels.com.au/properties/the-four-in-hand-hotel/" target="_blank">listed through Ray White Hotels Asia-Pacific director Andrew Jolliffe</a>.
"The 4, as it is affectionately known, is an institution in the Sydney pub landscape," Mr Jolliffe said.
"Melbourne has a number of these great food and beverage icons like the Four in Hand, however, unfortunately they are few and far between in Sydney. That's why this is such a special hotel."
It had over $4.75 million in total sales in FY2015.
The 375 sq m corner holding had a recent $1 million renovation.
</body></html>

jchancellor-FAypfDUnLy

Four In Hand, Paddington hotel for sale

<html><body>
A fully leased 7-Eleven service station and retail complex at Oxenford on the northern Gold Coast has been sold at auction by Ray White Commercial for $8.92 million.
The property at <a href="https://www.realcommercial.com.au/property-retail-qld-oxenford-501694453" target="_blank">141 Maudsland Road</a> attracted 10 registered bidders and was sold to an interstate buyer for a yield of 7.56 percent.
It was recently leased until 2026 with two five-year options.
Sitting on a land area of about 0.75 hectares, the service station earns a net rental income of about $674,550 per annum.
The selling agent was Michael Willems of Ray White.
Willems said the commercial complex is less than a year old and on a high volume traffic road in the heartland of the Riverstone Crossing Estate, where 1,000 homes are being built.
“The property offers a net lettable area of 2,267 square metres, including 1,040 square metres of 10 retail shops,” he said.
</body></html>

Gold Coast 7-Eleven service station sells for $8.9 million

<html><body>
A recently-built 7-Eleven retail store with a fuel outlet in Melbourne's Coolaroo is up for sale through expressions of interest.
The <a href="https://www.realcommercial.com.au/property-retail-vic-coolaroo-501723981" target="_blank">1350 Pascoe Vale Road</a> store is on a 12-year lease to 7-Eleven Stores Pty Ltd that started on August 2012 with options through to 2034.
The deadline for offers is November 13.
The building comprises a retail store outlet over 170 square metres.
It sits on a 1,200 square metre site. 
The current annual rental is $274, 407 net per annum with the tenant paying all outgoings excluding land tax.
The lease provides for an annual rental increase of 3.5%.
Gray Johnson listing agent Matt Hoath expects offers of around $5 million with an an indicative return in the 5.5% range, with building and depreciation benefits providing additional benefit.
The building is adjoined on two sides by the Melba Vale retirement village, while leading retailers are nearby on sites along Pascoe Vale Road.
</body></html>

7-Eleven at Melbourne's Coolaroo up for sale

<html><body>
The Heritage Hotel, a 110-year-old hotel at Rockhampton in central Queensland, has been put up for auction.
The three-storey building at <a href="https://www.realcommercial.com.au/property-hotel+leisure-qld-rockhampton+city-501716201" target="_blank">228 Quay Street </a>overlooks the Fitzroy River.
It is surrounded by historic buildings in the Rockhampton CBD.
The hotel was extensively refurbished in 2005 and comprises three bars, a gaming room with 14 EGMs, function rooms, a manager’s residence and office areas, a restaurant with a commercial kitchen and 20 accommodation rooms.
The iconic local pub announced its sudden closure to the public in March through its Facebook page in the face of mounting debts.
Built on an area of nearly 809 square metres, the hotel will be auctioned on November 13 in Brisbane through Leon Alaban and Brent McCarthy of Ray White for the receivers and managers.
</body></html>

Retail Sale

Editor's Picks

Have something to contribute?

Developments

New apartments

New townhouses

News

Retail Sale

Editor's Picks

Receive the latest news stories to your inbox

Have something to contribute?

Developments

New apartments

New townhouses

News