Perth’s new apartment market recorded its strongest quarter of sales since Q4 2021, with 412 apartments sold in Q1 2026 and a record quarterly sold value of $537 million, according to Urbis’ latest Apartment Essentials results.

Urbis said the March quarter result reflects strong, highly product‑specific demand across both ends of the market, from more attainable projects delivering at scale, through to premium stock being absorbed by equity‑rich downsizers.&nbsp;

David Cresp, Partner at Urbis, said the key story in Perth is not demand, it is the market’s ability to convert demand into delivered housing.&nbsp;

“This is the strongest sales quarter since Q4 2021, and it reinforces that demand in Perth is real and it’s local,” David Cresp said. “But the task now is delivery, turning that demand into projects that can actually be built and completed.”&nbsp;

[smartcode_project:default project_id=110291 project_image_fid=302785]

<h2>Affordable product leads, premium demand remains resilient</h2>

Sales in Q1 were led by more affordable projects, with The Boulevard (SKS Group) recording 115 sales in the quarter, the presentation noting this is only the second time a single project has surpassed 100 quarterly sales. The project was able to offer more affordable housing product right next to a train station.&nbsp;

Palmyra West (Finbar) also delivered strong results with 28 sales in Q1, following 84 sales in Q4, with an average price of under $800,000, underscoring depth of demand for well‑located, attainable new stock.&nbsp;

At the premium end, Urbis said downsizer demand is continuing, with the results highlighting Romeo (Applecross, Finbar) recording 75 sales and reaching almost 50% sold in one quarter.

Jual (Shenton Park, Celsius Property) also posted a strong quarter with 28 sales, reaching 39% sold in one quarter.

Urbis noted that Perth apartment demand is not speculative, not investor‑led, and not uniform, describing it as localised, often equity‑driven and highly product‑specific, a pattern reflected in the polarisation between strong “attainable” performers and premium downsizer product.&nbsp;

[smartcode_project:default project_id=148957 project_image_fid=364102]

<h2>Prices underpinned by costs, and the delivery risk is growing</h2>

Urbis said pricing pressure is cost not demand‑driven: construction costs and delivery risk are now a central constraint, with the results noting build costs remain elevated and volatile, and that energy, fuel and labour uncertainty weigh on feasibility.

David Cresp said a growing challenge for private Build‑to‑Sell developers is simply securing a builder in the current environment.

“Developers are really feeling the pressure from a building market that was operating at capacity and securing a builder is challenging,” David Cresp said, adding that even where a builder can be secured, “trying to get to the price that makes the development financially viable is incredibly challenging in the current market.”&nbsp;

Urbis’ broader WA commentary also notes that industry remains at or above capacity with lot and housing creation, and that many builders are limiting new sales to manage stretched workforces and fixed‑price contract pressures, conditions that flow directly into apartment feasibility and delivery timing.

[smartcode_project:default project_id=108869 project_image_fid=317905]

<h2>Supply: improving later, but still constrained, and Perth lags eastern benchmarks</h2>

While near‑term supply remains constrained, Urbis’ forecast shows completions lifting “Supply is forecast to be back above 1,500 apartments per annum for the first time since 2019”, with 1,775 completions forecast for 2026, and volumes remaining above that level over the following years.&nbsp;

Looking further ahead, completions are forecast to reach 2,500 in 2028, with the report noting 32% of that total is social/affordable, reflecting the role of government‑supported delivery in rebuilding the pipeline.&nbsp;

However, Urbis said Perth remains behind comparable markets on pipeline scale. In a national comparison of projects under construction, the report shows under construction Perth Build‑to‑Sell (BTS) at 3,446 apartments versus the Gold Coast at 7,922. Mr Cresp said “The challenge for Perth is how to we grow the delivery pipeline”.

Urbis’ conclusion is that Perth’s market is increasingly defined by product discipline and delivery certainty, with the research identifying “delivery certainty is key” and calling out builder risk and procurement models as core success factors, alongside “timing and staging”.&nbsp;

Joel Robinson

Perth apartment sales hit strongest pace since late 2021 as builder capacity tightens

<a href="https://www.apartments.com.au/developers/sammut-developments">Sammut Group</a> has secured development approval for its latest Brisbane apartment project, marking the Sydney developer’s next step in expanding its Queensland pipeline following the success of its debut Gold Coast development, Coast.

The approved project at <a href="https://www.apartments.com.au/new-apartments/44-glen-road-toowong-qld-4066">44 Glen Road, </a><a href="https://www.apartments.com.au/developments/toowong-qld-4066">Toowong</a> will deliver a 15-storey riverfront apartment building with 42 residences, significantly increasing the scale of the site’s previous approval for a smaller luxury scheme. Designed by Bureau^proberts, the development will comprise a mix of predominantly four-bedroom and two-bedroom apartments positioned to maximise Brisbane River and city views.

Sammut Director Julian Sammut said the group had been actively searching Brisbane for several years before identifying Toowong as the right fit.

“Brisbane was the right step for Sammut,” Sammut said.

“With the success of Coast we thought we should definitely look to do more in Queensland alone. We then pushed up to look at Brisbane. We've been looking for I'd say two to three years actually and it was hard to find the right location.”

<img alt="Sammut makes Brisbane apartment play" data-entity-type="" data-entity-uuid="" src="https://res.cloudinary.com/dz9xllyip/image/fetch/f_auto,c_limit,w_1440,q_75/https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/field/image/Screenshot%202025-12-23%20at%203.27.14%E2%80%AFPM.png?VersionId=dYAVIL7qdcGA8ojvkslSrLjczXFejSSx" />

Sammut said suburbs including New Farm and Teneriffe were considered before the group ultimately focused on Toowong due to its strong downsizer demographic and limited supply of developable riverfront land.

The site was acquired off-market after what Sammut described as a lengthy negotiation and planning process, with the developer pursuing an uplift to the original approval.

“We are DA approved now which is very exciting,” Sammut said.

“We've had our change approval come through and we've obviously doubled the height, 15 storeys plus rooftop. We've got 42 amazing apartments that are going to be coming to market soon.”

<img alt="Sammut makes Brisbane apartment play" data-entity-type="" data-entity-uuid="" src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,dpr_2.0,q_auto:good/https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202025-12-23%20at%203.27.26%E2%80%AFPM.png?VersionId=ohkRkY0dIZlqdfME2EZePsCQavRiBadE" />

Bureau^proberts said the design responds to Toowong’s evolving urban character, balancing contemporary apartment living with the area’s established residential identity.

“A place where traditional Queensland living has taken place for centuries; Toowong is seeing a shift of contemporary influence, commercial and retail hubs mixed with well-considered residential offerings – all the while maintaining its character and charm,” the architect noted in planning documents submitted to Brisbane City Council.

The architecture practice said the project’s form was shaped by its riverfront setting, flood considerations, neighbouring building scales, and view corridors.

“They said the mix of four and two-bedroom apartments capture the ‘fundamental qualities of Queenslander living,’ translated into the context of a contemporary subtropical building.”

The development sits just off Coronation Drive within walking distance of Toowong’s retail precinct and the upgraded Regatta ferry terminal, while also benefiting from proximity to the incoming green bridge connection to West End. Sammut said the accessibility and amenity offering were central to the site’s appeal.

The approval adds to growing residential activity along the Toowong riverfront, joining nearby projects including Consolidated Properties’ Monarch Residences and Spyre Group’s ARC Residences.

Sammut secures approval for debut Brisbane apartment development in Toowong

Developer Lanevick is heading back into Sydney’s apartment market after focusing more heavily on the luxury townhouse and terrace sector in recent years.

Lanevick, founded and directed by Steve Maroun, is expecting to receive approval in the coming months for a new apartment development in Gladesville, with the aim to launch it to the market later this year.

The 51-apartment project, designed by Studio Johnston, will comprise a mix of one-, two-, and three-bedroom apartments positioned toward the Hunters Hill downsizer market.

“Traditionally it’s been difficult for people in that market to downsize because there just hasn’t been the right product available,” Maroun said.

“We’re targeting buyers who might have 30 to 40 per cent of their house value sitting in the bank after downsizing.

“They still want good spacious entertaining areas, they still want quality design, but they also want flexibility and the ability to enjoy life a bit more after working hard for a long time.”

The project sits near Boronia Park and within close proximity to the Parramatta River foreshore, an area Maroun says offers more of a Hunters Hill lifestyle than a traditional apartment precinct.

“From a lifestyle perspective, it’s really more Hunters Hill than Gladesville,” Maroun said. “You’re close to the foreshore, close to parklands, and still connected back into the village precinct.”

From level four and above, apartments will capture water views&nbsp;toward Sydney Harbour. Communal amenity will include rooftop entertaining areas, wellness spaces, and a gym tailored toward owner-occupier buyers.

“We’ve really designed these apartments around that buyer coming from the Hunters Hill LGA and what they’re actually looking for in their next chapter.”

The proposed development has also been designed to respond to the changing character of the broader Gladesville town centre, where a growing number of mixed-use and residential proposals are expected to emerge over the coming years.

“Gladesville presented a rare opportunity to deliver a genuinely design-led residential project within an evolving lifestyle precinct, just moments from the growing Gladesville town centre, and we’ve approached the project with a strong focus on architecture, liveability and long-term community value,” Maroun said.

Maroun said Lanevick saw a first-mover advantage within the precinct as planning controls continue to evolve to accommodate greater housing density.

“We think there’s a real opportunity there that hasn’t really been serviced properly yet,” he said.

“There’s going to be a broader evolution of the whole Gladesville village precinct over time, particularly with more activation and mixed-use outcomes.”

The Venus Street proposal will include a commercial and retail component at ground level designed to contribute to that evolving streetscape activation.

“A big part of the thinking was how do you activate that area properly and create more vibrancy and amenity, which is what Hunters Hill has been looking for,” Maroun said.

Lanevick’s focus since 2020 has largely been on smaller-scale luxury townhouse and terrace developments. The developer recently completed Royale Randwick, also designed by Studio Johnston, where prices reached $3.65 million. The project was featured in the UDIA NSW 2026 Professional Development Prospectus and was also named a finalist for Development of the Year.

&nbsp;

Lanevick to cater for Hunters Hill downsizers with new Gladesville apartment development

Property developer One Living, backed by former Macquarie banker turned investment manager Chris Green’s investment firm, has unveiled plans to bring more institutional capital into housing to help address the national supply crisis.

The New York-based investor has focused his firm, GreenPoint Partners, on addressing the supply shortage hitting middle market housing in Australia.

It is backing the new One Living business to develop more than 1000 units along the eastern seaboard. The new firm is starting with a development on Mona Vale Road, on the border of Mona Vale and Pymble, in Sydney’s Northern Beaches, with around 140 apartments planned. They are eyeing off more sites across the city.

With cost pressures rising in the industry, One Living’s model is to be a vertically integrated developer-builder, so it can respond directly to the housing gap by removing the cost inefficiencies embedded in traditional residential delivery.

“We are building a platform designed to operate at scale and starting in a market where there’s a clear need for quality, attainable housing,” One Living joint managing director Joseph Scuderi said.

“It’s that missing middle – it’s that attainable end of housing… that’s what most Australians invest into and what Australians can actually afford.”

<img alt="Mona Vale" data-entity-type="file" data-entity-uuid="798dfa93-4941-4db6-a696-31e9dc18e81c" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-05-28%20at%202.31.50%E2%80%AFPM.png?VersionId=mKBqi5C_DmeiXS.AtJkcR8LQIxqCqmFi" />

GreenPoint Partners brings years of experience assembling and scaling real estate operating businesses across major markets. And Green sees a big opportunity in Australia.

“For its size, sophistication and importance to the community, Australia’s living sector has remained largely under-institutionalised, which represents significant opportunity,” Green said. “GreenPoint identified that gap, assembled the right team, and is backing One Living to build a platform that is aligned to market needs.”

Green said being a builder-developer would give the company the capacity and flexibility it required to deliver reasonably-priced homes.

“We want it to be at that attainable level; not super high end luxury but at that attainable level,” he said.

<img alt="Mona Vale" data-entity-type="file" data-entity-uuid="74a5344a-4b26-4d4a-ada3-056b1220be77" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-05-28%20at%202.32.15%E2%80%AFPM.png?VersionId=vY8hXHO4reBMdO8ZXMWCNtGZJofUPQ3j" />

&nbsp;

One Living will undertake a component of affordable housing in its schemes, which it will own and operate, and it could also run build-to-rent on some sites.

Green praised local policy settings.

“The NSW government is being very supportive, strategic and pragmatic in terms of how do we generate more supply of housing,” he said. “We think it’s actually positive for development and the bit that’s been lacking at that attainable level is that it’s lots of relatively small private developers, whereas we want to create an institutional platform.”

One Living is also&nbsp;looking at high-density projects and could take on more institutional funding in the future.

“The way we will be able to achieve economies of scale is through size,” Green added.

One Living enters Sydney's new apartment market with Northern Beaches site acquisition

It's been several years since there's been an opportunity to buy a brand new townhome in Melbourne's coastal suburb of Mordialloc. Even apartment developments in recent times have been few and far between in the area.

Local developer LDS Property identified the gap in new housing, securing a site on White Street, directly opposite&nbsp;Woodlands Golf Club Mordialloc. They've recently launched&nbsp;<a href="https://www.apartments.com.au/new-townhouses/wm-residences-mordialloc-102-white-street-mordialloc-vic-3195">WM Residences</a>, just 13 townhouses which they have already started building.

Projects by Buxton Director Heath Thompson, who is selling WM Residences, says the townhouses x that perfect middle ground be

"Mordialloc residents have had limited options to downsize within the suburb, often forcing them to look elsewhere despite long-standing ties to the area," Thompson says.

"With very little comparable new supply coming to market, projects like WM Residences are well placed, particularly as buyers look to capitalise on current conditions amid constrained supply."

[smartcode_project:default project_id=134646 project_image_fid=6109]

The development, designed by regarded architecture firm&nbsp;<a href="https://www.apartments.com.au/architects/ewert-leaf">Ewert Leaf</a>,&nbsp;adopts a deliberately restrained architectural approach, focusing on simplicity, durability and liveability rather than overt design gestures.

The boutique scale is central to the offering. With only 13 three-bedroom residences, each home is configured to prioritise functional layouts and everyday use, supported by private terraces and secure two-car garages.

Ewert Leaf’s design response leans into a calm, neutral material palette. Interiors are defined by oak flooring, white walls and soft finishes, creating a consistent and understated backdrop. The approach avoids trend-driven detailing in favour of longevity, with an emphasis on natural light and spatial clarity.

[smartcode_project:default project_id=134646 project_image_fid=6110]

Beyond aesthetics, the homes are designed to meet contemporary performance expectations. Each residence targets a minimum 6-star energy rating, incorporating double glazing, comprehensive insulation and all-electric Bosch appliances.

The project’s location supports a walkable coastal lifestyle, sitting within close proximity to Mordialloc’s foreshore, Main Street retail strip and the train station. Local cafés and dining venues, including Suburbia Deli and Hendriks Café, are within a short walk, reinforcing the area’s established neighbourhood character.

[smartcode_project:default project_id=134646 project_image_fid=6116]

While <a href="https://www.apartments.com.au/developments/mordialloc-vic-3195">Mordialloc</a> is often defined by its beach and pier, the project taps into other areas of day to day living, offering easy access to local food, casual dining and transport, rather than positioning itself purely as a lifestyle retreat.

WM Residences reflects a continued trend across Melbourne’s coastal suburbs towards smaller-scale, design-led townhouse developments, particularly on infill sites where proximity to amenity is already established.

With construction commenced prior to its market entry, the project aligns with a growing preference among buyers for developments with visible progress and defined delivery timeframes.

[smartcode_project_cta:default project_id=134646]

WM Residences fills gap in Mordialloc townhouse market

Service Station

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<div>The fuel and convenience retailer Jasbe Petroleum will put three properties in regional Victoria to November 23 auction.</div>
<div> </div>
<div>
<div>The are the BP service stations in Wollert and Cranbourne, as well as a brand new United service station on Cheltenham Road in Dandenong. </div>
<div> </div>
<div>Both BP properties were developed and operated by Jasbe Petroleum, which operates 50 fuel sites nationally.</div>
<div> </div>
<div>The United service station in Dandenong was developed by the country’s largest independent fuel retailer, United Petroleum, and offers investors an opportunity to secure a brand new property with 15-year triple net lease.</div>
<div> </div>
<div>Jasbe Petroleum director, Miro Sloup, said the firm had taken a position to recycle some of the capital out of our company’s real estate investments with a view of reinvesting into the business and grow the convenience and fuel operations for our customers. </div>
<div> </div>
<div>The opportunity to purchase the three service stations follows the recent $5 million sale of a freestanding 7-11 in the regional Victorian city of Ballarat (above picture).</div>
<div> </div>
<div>Located at the corner of Hertford and Alfred streets in the Ballarat fringe suburb of Sebastopol, the 4,216 sqm property was purchased by a Melbourne-based farming family after outbidding 16 other groups.</div>
<div> </div>
<div>The property is leased to 7-Eleven Stores Pty Ltd on a 15-year term with fixed annual increases of 3%. The transaction reflected a sharp yield of 5.33%.</div>
<div> </div>
<div>CBRE suggest the sale highlighted an upturn in transaction activity in the service station investment market. </div>
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Three service stations in regional Victoria up for grabs at CBRE auction

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ASX-listed real estate investment trust Viva Energy REIT (‘VVR’)  said it had acquired eight service station properties for $89.1 million, excluding transaction costs.
The service stations are in Victoria, Queensland, NSW and NT, it said. 
The REIT said in an ASX announcement that it was raising equity to fund the acquisitions.
The capital raising includes $80 million in fully underwritten Institutional Placement with a non-underwritten Security Purchase Plan (‘SPP’) of up to $10 million to follow.
It said all new securities have full entitlement to the distribution for the six months ending 30 June 2017.
Commenting on the acquisitions, Margaret Kennedy, managing director of VER Manager Pty Ltd, manager of VVR, said the new properties would further diversify its portfolio.
In addition,  Viva is currently undertaking due diligence on 10 properties valued at about $45 million.
VVR also announced it had recently secured an additional $60 million, three-year bilateral debt facility from an existing lender. VVR has nearly $135 million of debt capacity available to fund future acquisitions. 
<a href="https://www.propertyobserver.com.au/images/2017/06/26/VivaEnergy.png" target="_blank">Click to enlarge</a>
<img src="https://www.urban.com.au/images/2017/06/26/VivaEnergy.png" alt="">
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jonathanchancellor-7SQnKwU6yx

Viva Energy REIT to acquire eight service stations across four states for $89.1 million

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A Woolworths/Caltex Service Station and convenience store in NSW’s Lower Hunter Valley has sold recently for $1,162,000 at auction.
The service station at <a href="https://www.commercialrealestate.com.au/property/54-ken-tubman-drive-maitland-nsw-2320-2013419286" target="_blank">54 Ken Tubman Drive</a> in Maitland opened circa 2006.   The lease on it has been renewed for five years to 2021 with two further options for renewals. 
It last sold for $795,000 in 2011.
Woolworths Caltex is a joint venture between Caltex Australia and Woolworths Limited with mor than 600 outlets.
The property is easy to manage as it is a single-tenant investment. 
Its current rent is $76,110.90 p.a. plus GST. 
The land area is 1546 sqm.
Maitland is a two-hour drive on the F3 north of Sydney. The property is close to the Maitland CBD and has good traffic exposure.
The selling agent was Jackie Wang of Raine &amp; Horne.
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Woolworths Caltex service station in Lower Hunter Valley fetches $1.16 million at auction

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The NSW service station market has seen resurgence in both new sites being constructed and investor interest, according to Knight Frank’s latest Research report, NSW Service Station Insight: February 2017.
Findings of the report were discussed by a panel of experts at a Knight Frank event in Sydney last night.
The panel included members from Rostron Carlyle, Consara, Holden Capital Finance and UCB, alongside Knight Frank’s Director, Service Stations Jason March and Director, Research &amp; Consulting Paul Savitz.
According to Mr March, “There is a strong appetite for service stations in Australia.
This asset class is no longer just for mum and dad investors.
They have evolved and have a diverse range of buyers now seeking to add service stations to their investment portfolios and superannuation funds.
“The appeal to investors in recent years has been underpinned by long-term lease covenants, with fuel companies providing stable income with relatively low costs associated with these assets.
“The demand for service stations will remain high, as competition in the sector continues to grow and investment yields remain attractive to developers and investors alike,” said Mr March.
According to the report, service station sales in NSW totalled $175.5 million in 2016 – 48 per cent above 2015 levels.
“The development of new service stations in NSW is increasing with 38 new-to-industry (NTI) sites established in 2015 and 2016.
Development has been concentrated in key growth corridors where population growth has been significant,” said Mr March.
In the latest deal negotiated by Mr March, a Junction Hill service station in Northern NSW has sold for $1.3 million plus GST to Shane Punton PTY LTD.
Located on 5 Casino Road, Junction Hill, the 1,255 square metre Caltex station received strong interest with multiple offers. Mr March said that multiple offers were received for the property.
Prior to this, recent sales by Knight Frank further up the coast in south-east Queensland include Puma Loganlea, which sold for $6 million; BP Capalaba East for $3.65 million; Neumanns Alexandra Headlands for $2.5 million; Choice Coopers Plains for $2.2 million and BP Kilcoy for $2.5 million.
According to Mr Savitz, the rationalisation of sites and industry amalgamations have been significant over the past decade, as traditional operators began to focus on upstream activities – making way for the entry of the supermarket chains in the early 2000s.
“With secure, globally-recognised tenants offering solid leasing covenants and long-term cash flow, interest in the service station sector has grown rapidly in recent years.
Over the past two decades, the service station industry has changed markedly with traditional fuel providers reducing retail operations to focus on the more profitable upstream oil and gas sector.
“Once dominated by the likes of Shell, BP, Mobil and Caltex, the entry of supermarket brands raised the stakes – ultimately increasing competition and altering the traditional model of what consumers
are being provided.”
Mr Savitz said that in line with the population, NSW accounts for the largest number of service stations in Australia at 30 per cent; moderately above VIC and QLD at 22 per cent respectively.
“Service station ownership in NSW is highly concentrated within a select group of operators, with the four largest providers by brand accounting for 50 per cent of NSW service stations.
Caltex, BP, Shell-Coles Express and 7Eleven are the largest players.
“Through industry amalgamations, the rationalisation of sites and a larger volume of fuel being sold from each site, the number of petrol stations in operation within Australia has declined to approximately 6,400 – down from 8,370 in 2000 and around 20,000 in the 1970s.” 
Mr March said the ownership structure of the service station sector is anticipated to change further over the next five years.
“Coles and other independent operators are expected to increase their presence in the industry.
In the short term however, an interesting period lies ahead as BP’s purchase of the Woolworths service station business flows through and both established and new industry entrants look to gain market share,” said Mr March.
To meet the growing demand for service stations across Australia, Knight Frank has recently expanded its service stations team, with Knight Frank’s Associate Director, Service Stations, Kim Munro joining the firm at the start of this month.
“Kim comes to Knight Frank with extensive experience in the fuel industry and we’re confident he’ll help us continue to be one of the leaders in service station sales in Australia,” concluded Mr March.
A retail service station at <a href="https://www.realcommercial.com.au/property-retail-nsw-finley-502249202" target="_blank">16 Murray Street</a>, Finley (above) has been listed for auction.
Similarly a retail service station at <a href="https://www.realcommercial.com.au/property-retail-nsw-ingleburn-502246638" target="_blank">Lot 8, 24-30 Lagonda Drive</a>, Ingleburn (below) has been listed for sale.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/02/22/Lot%208%2024-30%20Lagonda%20Drive.jpg" alt="">
A retail service station at <a href="https://www.realcommercial.com.au/property-retail-nsw-forster-502249198" target="_blank">86 Macintosh Street</a>, Forster (below) was sold.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/02/22/86%20Macintosh%20Street.jpg" alt="">
Similarly a service station at <a href="https://www.realcommercial.com.au/property-retail-nsw-towradgi-502174362" target="_blank">162-166 Pioneer Road</a>, Towradgi (below) was sold for $5,615,000.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/02/22/162-166%20Pioneer%20Road.jpg" alt="">
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NSW service station market sees resurgence

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A service station and car wash in Marsden, south of Brisbane, has been sold for $4.49 million to a Melbourne-based investor through Ray White Commercial.
The Freedom Service Station site at 502 Browns Plains Road is leased for $313,000 per annum, and the yield worked out to almost 7 per cent.
It was sold through an offer to purchase campaign and the deal was struck by Tony Grbcic of Ray White Commercial.
“The location was seen as a big attraction to many buyers as well as the fact it is next door to a recently developed Woolworths supermarket,” Grbcic said.
The service station is on a land area of 7,181 sqm with frontage to Browns Plans Road.
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Freedom service station site near Brisbane sold for $4.49 million

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A Shell service station in Adelaide's Edwardstown has exchanged hands in a $5.75 million off-market deal.
The Edwardstown Shells/Coles Express at 1112 South Road was sold with a new 10-year lease with three five-year options to Viva Energy Australia.
The service station sits on a 2,430 sqm site and is located in Adelaide’s main north-south transit corridor.
CBRE’s Will Brown and Ben Heritage brokered the sale on behalf of developer Emmett Property via a private treaty.
A yield of 5.7 percent underscored the property’s strong tenancy profile, said Brown.
“This sale highlights the strong demand currently in the market for single-tenant leased investments,” he said.
The property offers a commencing net income of $328,000 per annum.
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Shell service station in Adelaide fetches $5.75 million

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MAB Corporation has listed a service station and convenience store complex with top brands as tenants, close to the Melbourne CBD, with price expectations in the mid-$20 millions.
The West Gate Express property will be sold through expressions of interest closing July 14, subject to leases to Viva Energy Australia (Shell/Coles Express), Hungry Jack’s and Red Rooster on 15-year terms.
The total net income from the freeway style fuel/food complex is around $1.41 million.
The listing agents are Savills’ Chris Jones, Clinton Baxter and Ben Hegerty, with Dawkins Occhiuto’s, Andrew Dawkins and Walter Occhiuto.
Jones said it was difficult to put a price on the property given the fact that it could not be replicated and that there had been no sales of comparable investments.
Developed by MAB, the new complex comprises nearly 700 square metres of buildings and 1,200 square metres of canopy on a 10,000 square metre site. Frontages to the West Gate Freeway and Cook Street provide exposure to more than 180,000 vehicles per day.
"This is an exceptional opportunity on one of Australia’s busiest roads with an extraordinarily secure lease profile to several high profile national and international tenants and very strong underlying land value," said Jones.
Baxter said the property also offered substantial depreciation benefits, low projected capital expenditure, and a tenancy diversity which minimised risk profile.
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MAB’s West Gate servo in Melbourne on the market through Savills

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A BP petrol station at Scone in NSW's Hunter region sold for $4.6 million at a recent Burgess Rawson auction. 
The <a href="https://www.burgessrawson.com.au/buying/NSW/Hunter-Valley-~-Upper/Scone/Retail/2P1190#.V0T6JyN96u6">26 Kelly Street, Scone</a> service station/convenience store with 4,224 sqm land holding was built in 2010.
There is a 10-year lease in place from March 2010 with further options until 2030.
The selling agents were Simon Staddon and Stephen Lovison.
The tenant pays all outgoings, as per lease and net income is $348,576 pa + GST.
The service station sold on a 7.6 per cent yield to a Sydney landbanking family, according to a report in the Australian Financial Review. 
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BP service station in NSW's Scone scoops $4.6 million at Burgess Rawson auction

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The former petrol station at Dulwich Hill - which has almost shrine like status for devotees of the conservative Prime Minister John Howard - has been listed for sale as a residential development site.
It was the corner servo where the future 25th Prime Minister cut his teeth in the family's battling small business in the 1940s.
The Wardell Road offering will go to auction alongside an adjacent property.
They have a combined price guide of between $3.8 million and $4.2 million.
Born in 1939 John, like his older brothers, Wal, Stan and Bob pumped petrol at weekends for his father who was a supporter of the then newly-formed Liberal Party.
They lived through the post-war turmoil of a long coal strike and petrol rationing, and although he was only 10, John Howard maintained a clear recollection of the 1949 election campaign that brought his hero, Robert Menzies to power.
"I can remember listening to the policy speeches on radio with my father," he told journalist Craig McGregor in 1982.
"I can remember the talk around the house, which was very anti-Labor. It had a particular bias because of petrol rationing.
One of Menzies' slogans had been "Empty out the Chifley socialists and fill up the bowsers." 
John Howard also recalled the family elation on the night of the Menzies election and of a celebratory backyard bonfire to burn the rationing coupons. 
Howard's garage proprietor father, Lyall, who died in 1955, had bought into the business with his own father, Walter who'd purchased the property in 1930. It was the family's livelihood for decades. 
The two properties are being marketed as offering "enormous capital growth potential" coupled with a good holding income.
According to the listing agent, Luke Smith, at Raine &amp; Horne Commercial, the combined 455 square metre site was producing $153,868 revenue annually plus GST. 
The site also has a 2.6:1 floor space ratio, which will attract developers keen to land-bank. 
“This auction represents a rare opportunity to purchase a site in Dulwich Hill,” he added.
It is located just 100 metres from Dulwich Hill train station and the light rail. 
“Buyers can look forward to achieving strong re-sales as part of any future redevelopment,” said Mr Smith.
Over the past two years, five projects have been completed within 100 metres.
<img src="/images/2016/04/21/Lyall20Howard27s20Garage.jpg" alt="" width="2054" height="1092">
Mr Smith believes the property’s links to Australia’s 25th Prime Minister might attract some buying attention.
269 and 271-275 Wardell Road will go under the hammer on May 24.
The garage, on the corner of Wardell Road and Ewart Street, was sold for $100,000 by the family to a Greek immigrant in the mid-1980s, well ahead of John Howard's 1996 election triumph.
He once referred to the days of pumping petrol to empathise with drivers at high petrol prices.
"I know people are feeling it. I learned from a very early age that when you fill your car up you actually look at that click, click, click," he said, referring to the now obsolete bowser price counters.
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