<a href="https://www.apartments.com.au/developments/broadbeach-qld-4218">Broadbeach</a> offers plenty of reasons to live vertically, but moving from a substantial family home into an apartment can expose the compromises of high-density living. Privacy, room for guests and usable living space tend to matter more when an apartment is intended as a permanent home rather than an occasional coastal base.

A typical residential floor at <a href="https://www.apartments.com.au/new-apartments/the-eveleigh-broadbeach-7-9-surf-parade-broadbeach-qld-4218">The Eveleigh</a>, on Surf Parade,&nbsp;contains just four apartments. The 94-residence development by <a href="https://www.apartments.com.au/developers/hirsch-faigen">Hirsch &amp; Faigen</a> is predominantly made up of expansive three-bedroom homes, with a limited collection of half-floor penthouses above.

Across the apartment floors, <a href="https://www.apartments.com.au/architects/rothelowman">Rothelowman</a> has used the relatively limited number of residences to give each home greater access to natural light and outlook. Living spaces extend towards full-height glazing, while a series of bay windows frame selected views across the Pacific Ocean, city and hinterland rather than treating the building edge as a continuous wall of glass.

&nbsp;

[smartcode_project:default project_id=149670 project_image_fid=360965]

“The apartment floors deliver a collection of homes that embrace controlled outlook via a series of bay windows deliberately framing moments of view,” Rothelowman Director Kim Lowman said.

From outside, those projecting forms contribute to the tower’s faceted profile. Strong horizontal and vertical elements establish its proportions, while the changing position of the sun alters the light, shadow and reflection across the façade throughout the day.

The same attention moves inside the apartments, where the material palette combines warm timber, natural stone, metallic detailing and softer curved forms. Kitchens sit within the main living zone, with stone island benches, integrated joinery and European appliances, before the living areas extend towards the glazing and the outlook.

&nbsp;

[smartcode_project:default project_id=149670 project_image_fid=360981]

Three genuine bedrooms provide room to accommodate family and guests, while two secure car spaces and storage address some of the practical considerations that can become more noticeable when moving from a larger home. Feedback from the display suite has centred on the warmth and restraint of the interiors, with buyers commenting that the residences feel like homes rather than conventional coastal apartments.

A limited collection of half-floor penthouses occupies the upper levels, increasing the scale of the living spaces and adding private balconies and elevated finishes. From this position, the outlook extends between the ocean and hinterland.

Outside the private residences, The Eveleigh separates its shared spaces between the podium and rooftop. The podium is centred on wellness, with subtropical landscaping surrounding a swimming pool and pool terrace, yoga garden, private gymnasium, sauna and hot and cold plunge facilities. Landscaped retreats and pavilions provide additional places to sit away from the main recreation areas.

&nbsp;

[smartcode_project:default project_id=149670 project_image_fid=360966]

Higher in the building, a rooftop pavilion and private dining suite sit alongside resident lounge, barbecue and outdoor dining areas, opening towards panoramic views across the ocean, city and hinterland.

“Buyers are no longer just looking for an apartment, but a lifestyle where they can relax, reset, and enjoy a balanced way of living,” Hirsch &amp; Faigen Director of Sales Matt George said.

Interest to date has come from established owner-occupiers and interstate lifestyle purchasers, including buyers planning a future move to the Gold Coast. Many are coming from larger homes and want to reduce ongoing maintenance without giving up space for family and guests, privacy, two car spaces or the ability to entertain at home.

&nbsp;

[smartcode_project:default project_id=149670 project_image_fid=360969]

Much of that daily life can also take place beyond the building without requiring a drive. Kurrawa Beach and Pratten Park are an easy walk from Surf Parade, while Pacific Fair, Oracle Boulevard, The Oasis, restaurants, cafés, entertainment and public transport are also within walking distance.

The Eveleigh is Hirsch &amp; Faigen's fourth Gold Coast development since entering the market in 2021, following The Hemingway at Palm Beach, The Emerson at Kirra and Yves at Mermaid Beach. Each of the preceding projects sold out before completion.

“Broadbeach had been on our radar throughout our time operating on the Gold Coast,” the developer said. “Following our projects in Palm Beach, Kirra and Mermaid Beach, Broadbeach represented the natural next step for the business.”

The Surf Parade site brought together proximity to the beach, protected coastal outlooks and walkability to dining, shopping and recreation. Hirsch &amp; Faigen also identified the street as an emerging premium residential address, with enough separation from Broadbeach's busier destinations to retain a quieter environment at home.

The Eveleigh is now under construction by Maxcon, with completion forecast for mid-2028. Three-bedroom residences are currently available from $2.87 million.

[smartcode_project_cta:default project_id=149670]

Joel Robinson

The Eveleigh brings house-like apartments to Broadbeach

A long-stalled Campbelltown development site is back in play, with new plans for 139 apartments set to supersede a mixed-use scheme approved almost a decade ago but never built.

The new proposal for 28 Cordeaux Street would deliver 116 market and 23 affordable apartments in a part 14-storey building, bringing a substantial new project into a Campbelltown market where new apartment supply remains limited.

Plans have been filed over the 3,092 sqm corner site at Moore-Oxley Street, around 600 metres from Campbelltown Railway Station and the city-centre retail core.

The site already carries a mixed-use residential approval dating to 2016. Doroch Architects has now been engaged on a larger replacement scheme, which is progressing as a State Significant Development Application following a Housing Delivery Authority determination in August 2025.

The apartment mix comprises 39 one-bedroom, 72 two-bedroom and 28 three-bedroom residences. Two-bedroom apartments make up just over half of the project, while three-bedroom homes account for 20 per cent.

<img alt="First look: New 139-apartment plans revive long-stalled Campbelltown city centre site" data-entity-type="file" data-entity-uuid="136dd5b9-3791-4da6-9e31-76f533f5b4de" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Campbelltown%20da2.png?VersionId=LgOSy9nwf5u.MGswBBwaGGxuX8QpHSl_" />

Of the 139 apartments, 23 will be delivered as affordable housing under the in-fill affordable housing provisions of the Housing SEPP. The affordable component represents 15 per cent of the residential gross floor area and will be managed by a registered Community Housing Provider.

Doroch has sought to break the scale of the building into two distinct elements, with a masonry podium of around four storeys establishing the street edge before the residential tower steps back above.

The corner position has shaped that approach. Cordeaux Street faces toward the commercial and civic centre, while Moore-Oxley Street leads into the lower-scale residential neighbourhood to the south, and the design verification report describes the site as "bridging the commercial core to the north and established residential areas to the south."

The podium will be expressed predominantly in face brick, while the upper levels shift to brushed and grooved concrete cladding with darker metal detailing. Recessed sections, deep balcony edges and landscaping break down the upper form, with an approximately 11.8-metre setback to the northern boundary addressing the adjoining St Peters Anglican School.

<img alt="First look: New 139-apartment plans revive long-stalled Campbelltown city centre site" data-entity-type="file" data-entity-uuid="c8b3d2d3-c561-4bfc-a5d9-a68c0c10dac1" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Campbelltown%20da1.png?VersionId=AeAEyJU02Gk2k5noUj2StziCvdQ7fW4B" />

Campbelltown has been starved of new residential developments in the last decade.

The only other notable development set to come to market this year is ALAND's Queen Square, a mixed-use precinct on over two hectares that will comprise apartments above a vibrant ground-level retail and hospitality dining precinct.

First look: New 139-apartment plans revive long-stalled Campbelltown city centre site

First Look: Sherlock Construction pitches apartments for low-rise Deception Bay

Queensland builder-developer MAYD has revealed the first look at its major North Kirra beachfront development, lodging amended plans that reduce the number of apartments and increase the proportion of larger residences.

The project is planned across a substantial 4,742 sqm amalgamated site spanning seven lots at <a href="https://www.apartments.com.au/new-apartments/2-6-pacific-parade-bilinga-qld-4225">2-6 Pacific Parade</a> and 27-33 Golden Four Drive in Bilin​ga, directly opposite Nor​th Kirra Beach.

<a href="https://www.apartments.com.au/developers/mayd-group">MAYD</a> secured the site for $32.5 million in 2025, in what was one of the Gold Coast's largest property transactions of the year.

The development will be delivered across two stages, with the first stage carrying an estimated gross realisation value of around $360 million.

The latest amendments seek to reduce the overall apartment count and shift the project further toward the owner-occupier market, with larger residences designed for buyers wanting considerably more space than traditionally offered in a beachfront apartment.

The residential mix will include townhomes, oversized two-bedroom apartments, substantial three-bedroom residences and four-bedroom homes.

MAYD has appointed Cera Stribley to lead the architecture and interiors, with the Melbourne-based design practice drawing on the beachfront setting through a series of ocean-facing terraces and heavily landscaped balconies.

Strong horizontal forms and curved balconies will define the exterior, with subtropical landscaping integrated throughout the building to soften the built form and increase the connection between the residences and the beachfront.

The project will also include an extensive collection of resident wellness and lifestyle facilities, continuing the broader shift across the Gold Coast's luxury apartment market toward larger homes supported by resort-style amenity.

<img alt="MAYD" data-entity-type="file" data-entity-uuid="d1bcbb05-e659-4b47-8bd4-1e595315e2ad" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-27%20at%202.05.03%E2%80%AFPM.png?VersionId=jj0XEud1X1DuLt7_KyElhjMdZGOXmLHP" />

MAYD Founder Todd Mould said North Kirra was increasingly appealing to buyers attracted to the more established, lower-density character of the southern Gold Coast.

"North Kirra presents one of the most compelling luxury residential opportunities currently emerging in Australia, combining absolute beachfront with the character and authenticity that buyers are increasingly seeking, and the same sense of tight-knit community that defined Burleigh and Currumbin perhaps 10 or 15 years ago," Mould said.

"With Gold Coast Airport on its doorstep, it also offers a level of accessibility that broadens its appeal across almost every market demographic."

The project comes as the southern Gold Coast continues to attract an increasing share of high-end apartment development and buyer activity.

Kirra in particular has emerged as one of the region's more tightly held beachfront markets, with its relatively low-density character, established surf and hospitality scene and proximity to Gold Coast Airport differentiating it from the higher-density markets further north.

Mould said those characteristics had informed the approach MAYD and Cera Stribley had taken to the project.

"We've worked closely with Cera Stribley to create a vision that is deeply connected to its surroundings," he said.

"Inspired by the coastline itself, the architecture has been shaped around space, privacy and resort-style living, creating a collection of homes that reflects the next generation of luxury on the southern Gold Coast."

MOTIV Managing Director Carly Cottam, who has been appointed to market the project, said buyer attention had continued to move south along the Gold Coast.

"Purchasers who may once have defaulted to Broadbeach, Main Beach or Surfers Paradise are increasingly recognising the value of a genuine beachfront location that offers lower density, strong amenity and a more established sense of community," Cottam said.

"Kirra has a powerful combination of growing demand and genuine scarcity. Beachfront supply is inherently constrained, the area remains relatively low density, and buyers are increasingly placing a premium on locations that feel established, uncrowded and authentic rather than heavily developed."

Cottam said the proximity to Gold Coast Airport was also proving increasingly important for interstate and second-home buyers.

"Being minutes from Gold Coast Airport makes it particularly compelling for interstate buyers, frequent travellers and second-home purchasers who can access an authentic coastal lifestyle almost immediately after stepping off a flight."

The acquisition takes MAYD's active development portfolio to more than $500 million, with the North Kirra project representing one of its largest undertakings to date.

MAYD is targeting an early 2027 launch.

First look at MAYD's North Kirra mixed-use precinct

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Castle Hill, the longtime hub of the Hills District, has been one of the major beneficiaries of Sydney's Metro expansion, with improved connectivity helping drive continued population growth, development and buyer demand across the Hills District.

But despite that growth, the suburb has seen relatively few major new apartment projects brought to market over the past 18 months.

Hills District developer Reve Group is looking to fill that gap with <a href="https://www.apartments.com.au/new-apartments/nova-r-ve-castle-hill-2-garthowen-crescent-castle-hill-nsw-2154">Nova Rêve</a>, a major new mixed-use precinct on the corner of Garthowen Crescent and Old Castle Hill Road, a short walk from Castle Hill Metro Station and Castle Towers.

[smartcode_project:default project_id=152737 project_image_fid=377679]

The project will comprise three residential towers alongside a hotel, restaurants, cafes and a skybar, more than 1,600 sqm of ground-floor retail and almost an acre of landscaped gardens.

It represents the largest project undertaken by Reve Group, the development arm of the Kassis family, which has been building across the Hills District for more than 30 years through Kassis Homes.

[smartcode_project:default project_id=152737 project_image_fid=377675]

Nova Rêve also represents a significant step up from the family's first apartment development, Grand Rêve, which was delivered nearby on Garthowen Crescent.

Grand Rêve introduced larger, house-like apartment layouts and premium inclusions including Wolf and Sub-Zero appliances to the Castle Hill market.

Nova Rêve takes that approach to a precinct scale, combining the residential component with hospitality, retail and substantial public and resident landscaping.

[smartcode_project:default project_id=152737 project_image_fid=377685]

Reve Group Managing Director Sam Kassis said the project reflected the family's three decades of building in the Hills, which has evolved from trophy homes on quarter-acre blocks to larger-scale apartment development.

"Grand Rêve was our first apartment project here and it showed us what this pocket of Castle Hill could be. Nova Rêve is the refinement of that idea: not just apartments, but a place the whole suburb can use," Kassis said.

A key part of that approach is the hotel, which has been designed to operate as an amenity for the wider Castle Hill community rather than solely hotel guests.

It will include restaurants, cafes, skybars and all-day dining, alongside conference and event facilities catering to business functions, community groups and private events.

At ground level, more than 1,600 sqm of shops and cafes will open onto the surrounding streets and landscaped areas.

Almost an acre of gardens designed by Land and Form Studios will run through the precinct, incorporating pathways, seating, barbecue areas and children's play spaces.

[smartcode_project:default project_id=152737 project_image_fid=377680]

Reve Group's Romio Georges said creating an active ground plane had been central to the planning of Nova Rêve.

"There are gardens with pathways, barbecues, seating and play areas, shops and cafes opening onto the street, and a hotel with restaurants and a skybar that anyone in Castle Hill can walk into," Georges said.

The project's elevated position on one of Sydney's highest ridgelines will also provide apartments with outlooks toward the Sydney skyline, surrounding parkland and the Blue Mountains.

More than 80 per cent of the apartments will occupy corner positions, with Turner responsible for both the architecture and interiors.

&nbsp;

[smartcode_project_cta:default project_id=152737]

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</main>

Nova Rêve arrives as Reve Group bets on Castle Hill's next growth phase

Retail Sales

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Retail sales activity during the first quarter of 2107 was a little more than $6.6 billion with 130 transactions clocking more than $5 million each, according to the Savills Retail Quarter Times.
Other trends show that there were 73 projects spread over a development area of 1.75 million sqm. At the same time, retail trade touched $102 billion, a 2.7 percent growth on an annual basis.
The top sales — more than $25 million — over the past year or so were at city centres. The top one was David Jones for $360 million and St Collins Land in Melbourne for $247 million, Savills data shows.
Yields for the top 20 sales varied from 3.72 percent to 8.41 percent, according to Savills.
<a href="https://www.propertyobserver.com.au/images/2017/06/14/SavillsSalesTop20.png" target="_blank">Click here to enlarge</a>
<img src="https://www.urban.com.au/images/2017/06/14/SavillsSalesTop20.png" alt="">
By state, NSW topped the sales activity for the year — sales more than $10 million — with Victoria and Queensland following.
<a href="https://www.propertyobserver.com.au/images/2017/07/03/SalesActivity.png" target="_blank">Click to enlarge</a>
 <img src="https://www.urban.com.au/images/2017/07/03/SalesActivity.png" alt="">
<a href="https://www.propertyobserver.com.au/images/2017/07/03/SalesByType.png" target="_blank">Click to enlarge</a>
 <img src="https://www.urban.com.au/images/2017/07/03/SalesByType.png" alt="">
<a href="https://www.propertyobserver.com.au/images/2017/06/14/SavillsAvgeYld.png" target="_blank">Click here to enlarge</a>
<img src="https://www.urban.com.au/images/2017/06/14/SavillsAvgeYld.png" alt="">
<a href="https://www.propertyobserver.com.au/images/2017/06/14/SavillsAvgeYldSpread.png" target="_blank">Click here to enlarge</a>
<img src="https://www.urban.com.au/images/2017/06/14/SavillsAvgeYldSpread.png" alt="">
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jonathanchancellor-7SQnKwU6yx

Retail sales activity in first quarter reached $6.6 billion: Savills

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The online retail market is slowing, with sales declining over the year to April and also on a monthly basis, according to a NAB index.
Year on year growth slowed from a revised 10.5% in March (was 9.0%) to 6.9% in April, according to the NAB Online Retail Sales Index. The revised trend estimate for online retail sales is now virtually flat (0.1%), it said.
On a monthly basis, the index contracted in April by 0.8% on a seasonally adjusted basis, reversing a 0.8% growth in March. 
ABS data on traditional retailers showed month on month seasonally adjusted contracted in March (-0.1%), with year on year growth of 2.4%.  
“We estimate that Australian consumers have spent around $22.37 billion over the last 12 months to April 2017. This is equivalent to 7.3% of spending at traditional bricks &amp; mortar retailers, as measured by the ABS in the 12 months to March 2017,” said a note from NAB.
In line with the headline number, most categories slowed in April. 
<a href="https://www.propertyobserver.com.au/images/2017/05/31/NABRetailYoY.png" target="_blank">Click to enlarge</a>
<img src="https://www.urban.com.au/images/2017/05/31/NABRetailYoY.png" alt="">
<a href="https://www.propertyobserver.com.au/images/2017/05/31/NABRetailMoM.png" target="_blank">Click to enlarge</a>
<img src="https://www.urban.com.au/images/2017/05/31/NABRetailMoM.png" alt="">
Against the general slowing were: Homeware and appliances (10.4% yoy Apr vs 8.7% yoy Mar), Games and Toys(14.9% yoy vs  8.2% yoy) and Daily Deals (4.4% yoy vs -3.8% yoy). Media (16.3% yoy vs 16.6% yoy) maintained strong growth while previous  growth lead, Takeaway Food, slowed considerably (11.3% yoy vs 24% yoy).   Personal and Recreational Goods (3.4% yoy vs 14.4% yoy), Department Stores (3.4% yoy vs 8.4% yoy) and Fashion (2.4% yoy vs 4.9% yoy) also slowed but remained positive, whereas  Groceries and Liquor (-1.6% yoy ) is smaller this April compared to last.
<a href="https://www.propertyobserver.com.au/images/2017/05/31/NABRetailOnlinevsABS.png" target="_blank">Click to enlarge</a>
<img src="https://www.urban.com.au/images/2017/05/31/NABRetailOnlinevsABS.png" alt=""> 
<a href="https://www.propertyobserver.com.au/images/2017/05/31/NABRetailGrowth.png" target="_blank">Click to enlarge</a>
<img src="https://www.urban.com.au/images/2017/05/31/NABRetailGrowth.png" alt="">
SME sales represents just over a third of all online sales. While SMEs (-0.4%,mom s.a.) recorded less negative sales, the fall in growth was sharper given the March result (+1.5%, mom, s.a.). Year on year growth for SMEs (10.6%) is still stronger than Corporates (6.9%).
The data is seasonally adjusted where specified, with a leap year adjustment made for February 2012 and 2016.
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Online retail sales fell in April, reversing gains in March: NAB index

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A double-fronted High Street, Prahran retail property has sold for $2.83 million under the hammer.
The 278 square metre Commercial 1-zoned property with a building area of 200 square metres, was sold subject to a four plus five year lease to restauraunt The Seasonal Kitchen from February 2015.
The property comprises two shops and the final sale price reflected a 3 percent yield.
Fitzroys agents Chris Kombi and Michael Ryan said the auction featured competition between five bidders.
Ryan said the property’s development and subdivision potential was key to buyer interest.
“Prahran’s vibrancy and popularity as a lifestyle location has spurred an increase in the level of high and medium density housing, which has had a hugely beneficial impact on its retail and hospitality precinct,” he said.
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j.ballantyne1990-6AQqhLzZaK

Double-fronted High Street, Prahran site sells under the hammer

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A Coles Five Dock strata-titled supermarket has sold for $19.66 million at a record net yield of 4.89 per cent, the first full line metro supermarket put on the market since 2015 in Sydney.
The sale beat the previous NSW record set by the sale of the Woolworths supermarket at Casula in Sydney's west in 2015 on a net yield of 5.11 per cent, according to selling agents James Wilson and Alexander Elliott of Colliers International.
It was snapped up by a NSW investor.
It was marketed via an expressions of interest campaign in February with price expectations in the $20 million range.
The property at 4-12 Garfield Street is a modern 3,430 sqm supermarket with a new 20-year lease to the supermarket chain. 
The property earns a net income of $960,489 pa.
"The transaction of this strata supermarket highlights the maturity of Sydney's investment market to focus more on the underlying performance of the asset as opposed to its title. This is a positive sign for the maturing Sydney retail investment market and great news for mixed-use developers looking to maximise their returns on Sydney developments," Wilson said.
Elliot said they fielded more than 200 enquiries from domestic and offshore investors.
The 3,333 square metre Coles-anchored stratum supermarket  features a restaurant and basement parking for 163 vehicles. 
The buyer acquired the property from the private developer of the property, who had previously sold the original Superbarn business at the property to Coles.
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Coles Five Dock supermarket sold for $19.66 million on record yield

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 Two freestanding commercial buildings on Sorrento’s busy Ocean Beach Road are set to go under the hammer in early March.
The 554 square metre landholding at <a href="https://www.realcommercial.com.au/property-retail-vic-sorrento-502246230" target="_blank">157-163 Ocean Beach Road</a> may attract strong interest given its passing income, position adjoining a council car park and potential as a mixed use.
The agent offering the property, CBRE’s Sandro Peluso, said Sorrento had emerged as one of the state’s strongest housing markets in recent years.
“House prices in Sorrento have grown by 17.43% in the past three years, underlining investor confidence in the stability and growth potential of the suburb,” Peluso said.
“Furthermore, opportunities on this stretch of Ocean Beach Road don’t come up regularly, especially ones with such outstanding corner street exposure, development potential and short term income security.”
The property currently provides two income streams totalling $105,105 per annum, with two short-term leases in place.
Peluso said the state government’s $750 million-plus Peninsula Link project, which opened in 2013, had made the area an increasingly attractive location for permanent residents, rather than just the region’s traditional holidaymakers.
The property will be offered for sale via a public on-site auction on March 11 at 12:30pm.
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Sorrento retail sites to go under the hammer 

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GUEST OBSERVER
The recent lift in retail sales has sustained into October, a 0.5 percent gain in the month outstripping expectations of a more moderate 0.3 percent gain.
That follows back to back 0.6 percent monthly gains in August and September.
The detail suggests an expected dampening effect from price discounting did not materialise. Price gains accounted for all of the sales gain in Q3 and recent indicators suggested some food price increases have partially unwound in recent months.
However, food retail posted a solid 0.6 percent gain in the month, anchoring the overall result (basic food retail, i.e. supermarkets, account for about 40 percent of retail sales).
Other categories were a bit so-so with a solid but unspectacular rise for household goods retail (+0.7 percent/mth), declines for clothing (–0.4 percent) and the beleaguered department store category (–0.4 percent) but reasonable enough gains for ‘small ticket’ discretionary categories ‘other retail’ (+0.8 percent) and cafes &amp; restaurants (+0.4 percent).
By state, Qld was a standout with a surprisingly strong 0.8 percent lift.
Overall, the result suggests consumer demand may has retained some momentum although as always disentangling retail specific effects from wider patterns of demand remains tricky.
Matthew Hassan is senior economist with <a href="https://www.westpac.com.au/" target="_blank">Westpac</a>.
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jchancellor-FAypfDUnLy

Queensland a standout with a surprisingly strong lift in retail sales

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A mixed-use building in South Yarra has been listed by Fitzroys.
The ground floor space at <a href="https://www.realcommercial.com.au/property-retail-vic-south+yarra-502173002" target="_blank">29 Toorak Road</a> is currently trading as Eyes Optometrists, a long standing tenant who have just renewed a five year lease.
Set on 187 square metres, the building encompasses around 230 square metres and offers six metres of Toorak Road frontage.
It currently returns $88,724 per annum.
The second storey comprises a two bedroom apartment.
Fitzroys agents Chris Kombi and Geoff Emmett have set a December 2 auction date.
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Toorak Road shop and apartment in South Yarra listed

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A retail property, comprising a McDonald’s and 7-Eleven service station, that fronts directly onto the Gold Coast Highway at Palm Beach on the Gold Coast, has been sold for $8.525 million.
Set on a 3,011sq m corner site, the property is located at the intersection of 19th Avenue, the major east-west intersection at Palm Beach.
The property was sold by Jon Tyson and Michael Harcourt of Savills to a local private investor following a marketing campaign that generated over 250 enquiries and eight offers.
The sale reflects a sharp yield of 5.46 percent.
Jon Tyson said the Palm Beach property presented an extremely rare retail offering, 100% leased to dual national anchor tenants and with exposure to more than 34,000 passing vehicles daily.
<img src="/images/2016/11/18/Palm%20Beach%207-11%20McDonalds%201.jpg" alt="">
He said both McDonald’s and 7-Eleven have both occupied the site since it was developed in 2001.
They are secured on long-term net leases with fixed annual rental increases.
The sale represents the first time the property has been offered to the market.
Palm Beach is located on the southern Gold Coast, approximately 14km south of Surfer Paradise and just 10km north of Coolangatta Airport.
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Savills sell Palm Beach McDonalds for $8.525 million

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Sentinel Property Group has purchased the Port Hedland Boulevard Shopping Centre in Western Australia for $17.6 million from a private vendor.
The shopping centre has Woolworths as along term tenant on a 20-year lease expiring in 2028 plus two further five-year options.
The shopping centre, 150 Anderson Street, spans 6,259sqm and also features two Harvey Norman stores, 16 specialty shops and a service station. 
<img src="/images/2016/11/08/Port%20Hedland%202.jpg" alt="">
Warren Ebert, Sentinel managing director said the company is pleased to be growing its property presence in WA in the strategic regional location of Port Hedland.
"We believe it is the right time to be buying in this location as there are strong growth prospects ahead," he said.
"Port Hedland is the world’s largest bulk minerals port, is Australia’s largest export port by annual throughput and ships over 58 percent of Australia’s total iron ore exports. The Pilbara Ports Authority has forecast a 16 percent increase in shipping capacity over the next three years.
"Sentinel has been looking to buy in this region for some time and has now been able to capitalise as a result of asset repricing on the back of the down turn in iron ore."
The Port Hedland Boulevard Shopping Centre is the latest asset of the open-ended pooled Sentinel Countrywide Retail Trust, which also owns shopping centres in Dubbo, Bathurst and Broken Hill in NSW and Atherton, Townsville and Emerald (x2) in QLD.
Sentinel has recently completed the sales of two shopping centres in central NSW that were held by the Sentinel Countrywide Retail Trust – a Coles anchored centre at Wellington for $3.6 million (September 2016), and a Coles anchored centre in Narromine for $4.18 million (July 2016). Respectively, the centres at Wellington and Narromine were purchased for $2.7 million and $3.35 million in May 2015.
Mr Ebert said Sentinel is both a seller and a buyer in the neighbourhood shopping centre sector at current prices.
“We have bought very well in this sector, when it was unloved by others, and as a result we are receiving a number of unsolicited offers to acquire our centres,” he said.
“We will continue to take money off the table as opportunities arise to maximise returns for our investors. We also remain an active opportunistic buyer, particularly in regional locations not yet fully identified by others.”
<img src="/images/2016/11/08/Port%20Hedland%203.jpg" alt="">
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Sentinel acquires Port Hedland Boulevard Shopping Centre in WA 

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A tenanted warehouse facility at Nunawading in Melbourne’s eastern corridors industrial hub has been sold by Ray White Commercial for $1,040,000.
It represented a yield of 4.8% for the property at 8-10 Rooks Road.
It was sold to a local investor by Brett Diston of Ray White Commercial.
The 389 square metre building has an established tenant on a five-year lease, with two five-year options.
“The property is currently returning net rental of $50,062 per annum,” said Diston.
He said the building is situated on a land area of approximately 616 square metres and is zoned Industrial 1.
“The site has rear laneway access and three car spaces available.
“The prominent corner freehold is within 100 metres of Whitehorse Road, providing ease of access to major arterials.”
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