Rockdale has long been characterized as a suburb on the cusp. Well-located, well-connected, but historically underserved by modern apartment offerings.

It has everything going for it: outstanding connectivity to the Sydney CBD, just four train stops to Central Station, strong local amenity anchored by Roc​kdale Plaza and a growing main-street dining scene, and enviable proximity to Brighton-Le-Sands. The six-kilometre beachfront is lined with bayside restaurants, cafés, and walking paths, giving residents a lifestyle typically associated with much more expensive coastal suburbs.

What Rock​dale has lacked is high-quality contemporary apartments. Most existing developments date back several decades, with floorplans that no longer support modern living needs, and buildings constructed long before today’s standards in engineering, efficiency, and sustainability.

Lender, fund manager and apartment developer Princeton identified the gap early. Seeing all the right ingredients in Rockd​ale, transport, lifestyle, retail, and affordability, they set out to deliver what the suburb was missing. Their answer is <a href="https://www.apartments.com.au/new-apartments/marque-rockdale-602-608-princes-highway-rockdale-nsw-2216">Marque Rockdale</a>, a collection of 58 one-, two-, and three-bedroom apartments now nearing completion just a short walk from Ro​ckdale Plaza, home to over 50 specialist retailers and anchored by&nbsp;Woolworths, Big W and Aldi.

[smartcode_project:default project_id=136442 project_image_fid=355216]

Understanding they would be resetting the benchmark for the area, Princeton focused on ensuring buyers received best-in-class quality, longevity, and protection.

A major step was securing the sought-after Latent Defects Insurance policy from Resilience Insurance. This policy protects apartment buyers from structural or waterproofing defects for the first 10 years of the building’s lifecycle. Crucially, it is first-response insurance, meaning that if an issue arises, the insurer pays immediately for remediation—rather than waiting for lengthy investigations to determine fault before work can begin. For purchasers, it offers an unprecedented layer of security rarely seen in Sydney apartment projects.

During construction, independent building inspection firm SDSS has been providing Technical Inspection Services, bringing highly specialised construction experts on-site at key stages to ensure workmanship meets the highest standards. The project is being built by Coplex, an iCIRT-rated construction company, and throughout the build SDSS has frequently referred to <a href="https://www.apartments.com.au/new-apartments/marque-rockdale-602-608-princes-highway-rockdale-nsw-2216">Marque Rockdale</a> as one of the best projects currently on their books.

Princeton also doubled down on comfort, acoustics, and livability.&nbsp;As well as being the only building along Princes Highway with a landscaped buffer between the building and the road, Princeton has purposefully included double-glazed windows in all apartments to reduce noise.

Apartments feature double-glazed, noise-reducing windows and ducted air conditioning in every residence.&nbsp;In addition to the project’s transport convenience, Princeton has partnered with GoGet Car Share to provide a dedicated GoGet vehicle housed permanently within the building. Residents will receive a free annual GoGet membership, paying only usage fees, offering a flexible alternative to owning a second car and enhancing the project’s sustainability credentials.

[smartcode_project:default project_id=136442 project_image_fid=277075]

Residents will enjoy an exclusive rooftop oasis, purpose-designed as an extension of their living space. The communal rooftop includes BBQ facilities and outdoor entertaining areas, a&nbsp;pergola-shaded dining zone, a dedicated children’s play space, and a landscaped herb garden.

Princeton and Coplex is approaching completion of <a href="https://www.apartments.com.au/new-apartments/marque-rockdale-602-608-princes-highway-rockdale-nsw-2216">Marque Rockdale</a>, and are expecting residents to move in early in the new year. The mix of apartment configurations and price points have been a hit with young professionals, those who need to commute to the CBD, and families who appreciate doorstep amenity.

“Marque is a place where residents will be proud to call it home," Princeton Head of Development George Young says.

"We’ve worked really hard with Coplex and our design team to deliver an incredible building for the future home owners to make their own. The homes are all designed to allow the residents to make it their own, a place to belong and live a stylish urban life."

[smartcode_project_cta:default project_id=136442]

Joel Robinson

Marque Rockdale sets a new standard of apartment living in Sydney's south

Plans to revitalize the&nbsp;long-established Benowa Gardens Shopping Centre into a mixed-use community combining living, shopping, dining, health and wellbeing facilities, have been proposed to the Gold Coast City Council.

The Benowa Gardens Urban Village proposal by Benowa Gardens Holdings seeks to transform the 17,660 sqm site at <a href="https://www.apartments.com.au/new-apartments/203-ashmore-road-benowa-qld-4217">203 Ashmore Road</a> into a contemporary, sustainable destination that reflects global trends in modern community design while retaining the familiar local character residents value.

The site is bordered by Ashmore and Benowa Roads and Carrara, with ready access to Pindara private hospital, four schools, TAFE, sports fields and the nearby Botanic Gardens.

Benowa Gardens Holdings is seeking a preliminary Council approval only for its proposed masterplan and variations to the site’s Neighbourhood Centre zoning.&nbsp; 
Formal Public Exhibition commenced Friday and also marks the start of comprehensive community consultation with surroundings residents, schools, P&amp;Cs, existing retailers, nearby sporting clubs, arts groups and Botanic Gardens volunteers.

Designed by Neylan Architecture, the masterplan envisions around 413 new apartments, complemented by upgraded retail, dining, and wellness amenities as part of 10,000 sqm of retail, and 9,630 sqm of office space/medical suites.

The development will feature green open spaces, shaded promenades, landscaped terraces, pedestrian walkways, and expanded healthcare and lifestyle services in synergy with the neighbouring Pindara Private Hospital and local schools.

<img alt="Benowa" data-entity-type="file" data-entity-uuid="244f4d54-2e67-4141-92b8-78d5735f47c2" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202025-11-26%20at%2012.47.34%E2%80%AFPM.png?VersionId=FmF5lzhpwVZc7POsdB770TJ_Bf2c0od8" />

“This concept embraces the way people increasingly want to live - safely, conveniently, and within strong local communities,” said Patrick Lu, Director of Benowa Gardens Holding.

“Benowa Gardens will set a new benchmark for integrated living on the Gold Coast. It’s a thoughtful, community-minded evolution that brings global best practice in urban design to one of the city’s most established areas.”

Lu said this isn’t just a redevelopment, it’s a renewal with purpose.

“Benowa Gardens has served the community for decades. Our goal is to ensure it continues to do so for generations to come, as a lively, connected Urban Village where people can truly live, work and thrive. We’re already talking to school leaders and the community to seek their feedback on our proposal, and have taken on board their ideas to improve student safety with additional “traffic calming” measures on Carrara Street. We’re conducting meaningful and sincere consultations and want to play our role in preserving and enhancing the local community."

The proposed redevelopment aims to deliver tangible benefits across the Benowa and wider Gold Coast community, including:

<ul>
	<li>Improvement of retail amenity, to capture the under-served local market demand and keep the local business at their local shopping centre.</li>
	<li>Housing diversity; offering a range of apartment types for key workers, downsizers, and local families who wish to remain in the area.</li>
	<li>Enhanced shopping and dining; revitalised retail spaces designed to support local businesses and attract more visitors.</li>
	<li>Health and wellbeing access; additional medical and wellness amenities to complement existing local facilities.</li>
	<li>Improved traffic flow and access; two new access points, upgraded intersections, upgrade pedestrian pathway’s signal and proposed upgrade of pedestrian and cycle connections/space to improve safety and convenience, especially for school children.</li>
	<li>Environmental sustainability; energy-efficient design, green rooftops, and water-sensitive landscaping to reduce emissions and enhance comfort.</li>
	<li>Local jobs and investment; supporting hundreds of construction and long-term roles while stimulating local economic growth.</li>
</ul>

The group behind the project boasts extensive experience in the property development industry, both in Australia and international markets. Over the past 23 years, the group has been involved in the development and management of a diverse portfolio of assets including residential dwellings, shopping centres, bulky-goods stores, community and medical facilities, childcare centres, offices, hotels, and taverns, across Brisbane, Ipswich, and the Gold Coast.

Benowa Gardens to become new mixed-use urban village

Demand for townhouses in Melbourne’s inner west has surged as buyers seek the elusive combination of space, affordability, and location.&nbsp;

With family-first apartments increasingly rare and standalone homes often out of reach, townhouses have emerged as the new sweet spot, delivering generous living areas with lower maintenance needs within close proximity to the Melbourne CBD.&nbsp;

<a href="https://www.apartments.com.au/new-townhouses/kings-lane-south-kingsville-50-58-new-street-south-kingsville-vic-3015">Kings Lane</a>, the new under-construction townhouse development by the family-owned developer&nbsp;<a href="https://www.apartments.com.au/developers/blue-run">Blue Run</a>&nbsp;in South Kingsville, responds directly to this trend. Comprising just 25 residences designed by <a href="https://www.apartments.com.au/architects/rothelowman">Rothelowman</a>, the project offers a compelling alternative to both apartment downsizers and family upsizers. With three-bedroom homes priced under $1 million, it presents one of the area’s rare attainable pathways to townhouse living less than eight kilometres from the CBD.

[smartcode_project:default project_id=145042 project_image_fid=355147]

<a href="https://www.apartments.com.au/developments/south-kingsville-vic-3015">South Kingsville</a> itself is quietly becoming one of Melbourne’s most dynamic pockets of urban renewal. Flanked by the established appeal of Yarraville, Newport and Williamstown, the suburb balances quiet, village-like streetscapes with major infrastructure upgrades and a growing slate of retail, dining and lifestyle amenity.&nbsp;

Kings Lane occupies a well-connected site at 50–58 New Street, just off Blackshaws Road and within walking distance of the emerging Union Quarter precinct, a major retail destination anchored by Woolworths, specialty food outlets and wellness services.

A 400-metre stroll brings residents to the Vernon Street shops, a local favourite known for its mix of independent grocers, cafes and family-run eateries. For broader shopping options, Altona Gate Shopping Centre and Yarraville Square are both within a short drive. Spotswood IGA and the Williamstown retail strip further broaden the convenience of daily essentials.

[smartcode_project:default project_id=145042 project_image_fid=355139]

Dining options in the area lean toward eclectic and community-driven, with standouts like Rocco’s Deli, Dad and Dave’s, and Pizza d’ASPORTO offering a range of casual and elevated menus. Cafés such as Hudson Road Wine &amp; Beer and Blacksheep Coffee add to the lively yet local feel of the neighbourhood.

Green space is another hallmark of life at Kings Lane. Edwards Reserve is close enough for morning walks or casual sport, while larger parks like Newport Lakes, Yarraville Gardens, and Cruickshank Park are all a few minutes’ drive away. More than half of the nine-hectares of new green space or parkland being created as part of the West Gate tunnel works is located just at the end of New Street, the same street as Kings Lane.

&nbsp;

For those with school-age children, South Kingsville is home to a range of quality childcare centres and schools, including Kingsville Primary, Spotswood Primary, and Williamstown North Primary. Community Children’s childcare and South Kingsville Preschool are nearby, making the suburb particularly attractive to young families.

Transport links continue to improve, with Spotswood Station and the West Gate Freeway both within a five-minute radius. Future upgrades, including the proposed sky rail for Newport and Spotswood, and the delivery of the West Gate Tunnel project, promise even better access to the CBD and Melbourne Airport in the years to come.

Kings Lane's 25 all-electric townhouses are currently under construction, and will complete in late 2026.

[smartcode_project_cta:default project_id=145042]

Staff Writer

Kings Lane townhouses offers rare value in Melbourne's thriving inner west

Developer-builder <a href="https://www.apartments.com.au/developers/billbergia">Billbergia</a> has set a new apartment price record for <a href="https://www.apartments.com.au/developments/rhodes-nsw-2138">Rhodes</a>, a suburb the company has been instrumental in transforming over the past two decades.

The milestone follows the delivery of thousands of apartments across the harbourside peninsula, culminating in the $4.5 million sale of a 220 sqm penthouse in the <a href="https://www.apartments.com.au/buildings/rhodes-central-oasis-39-marquet-street-rhodes-nsw-2138">Rhodes Central Oasis</a> building, which Billbergia completed earlier this year. It is the first apartment in Rhodes to surpass not only the $4 million mark for settled sales, but also the $3 million mark, eclipsing the previous $2.75 million record set in 2021.

The purchaser had originally secured several apartments in the 40-storey tower off the plan as investments. During settlement, she spent more time in the Rhodes area and was so impressed with the building that she decided to downsize from her Northbridge home into the four-bedroom plus MPR penthouse.

The sale underscores the long-term work Billbergia has undertaken in Rhodes since the early 2000s. The company, rated 4.5 Gold Stars under the NSW iCIRT system, identifying it as one of the state’s most trustworthy and financially secure developers, was a pioneer of the area’s urban renewal. What was once a heavily industrial waterfront has become one of Sydney’s most successful examples of transit-oriented development.

<img alt="Billbergia" data-entity-type="file" data-entity-uuid="56093d7f-db18-42f4-bf9b-115bdf76f5f3" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202025-11-26%20at%2011.10.06%E2%80%AFAM.png?VersionId=pca77Mr.H83nwXbJexmaLUAqBewtQ7d9" />

Billbergia is now driving the peninsula’s next major evolution: the most ambitious project in its nearly four-decade history. They are planning the Rhodes Bay Masterplan, an eight-tower, mixed-use precinct on Leeds Street. Currently with the NSW Government’s Housing Delivery Authority which is now championing large-scale projects across the state, the Rhodes Bay Masterplan lays the groundwork for a generational reshaping of this important pocket of Sydney’s Inner West.

The masterplan spans more than 31,000 sqm of amalgamated industrial land along the foreshore, land that has been privately held and inaccessible to the community for more than a century. According to Billbergia’s Development Director, Saul Moran, reclaiming this land for public use is central to the company’s vision. 
 
“What’s so exciting is that we have over 300 metres of privately-held industrialised waterfront, land that’s been locked away for more than 100 years, which we’re bringing back to the community,” he says. “It’s taken many years to assemble sites like these, and the goal now is to transform them into meaningful public space where new homes can be built in an integrated, amenity-rich setting.”

At full completion, the Rhodes Bay Masterplan is expected to deliver over 2000 apartments, with the first 1000 to be completed by 2029. Billbergia’s design focused on nine slender towers, so they could give back more to the ground plane. There will be more than 16,000sq m of new parkland and recreation space, including sports fields, a foreshore play area and waterfront green links. Around 14,600 sqm of retail is also proposed, extending the precinct’s role as a true mixed-use hub.

<img alt="Rhodes Bay" data-entity-type="file" data-entity-uuid="240ffc41-4f26-421a-9606-5c56f6fc2d93" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202025-11-26%20at%2011.05.48%E2%80%AFAM.png?VersionId=BkBxZr7S8CAt1vgNa8AF3zjdc3YuVh0L" />

“Density only works when it’s paired with amenity, transport and open space, and that’s what’s made Rhodes such an amazing success story,” Moran says, adding that the demographic shift Billbergia has seen over the last two decades has informed their future development pipeline in the suburb.

“Rhodes has moved from being largely an investor market to a strong owner-occupier community,” Moran says. “There’s real demand for three-bedroom homes, flexible intergenerational layouts, and apartments people can grow into.”

&nbsp;“We’re designing taller, more slender towers to free up the ground level for sport, recreation and green space. High-density communities thrive when people have the best backyards in Australia, and that’s what we want to create here.”

Demand remains robust, evidenced by Billbergia’s recent results. “We achieved a record sale across the entirety of Rhodes Central just last week,” Moran says. “It shows the depth of confidence buyers have in what’s being built here.”

Billbergia’s vertically integrated model allows them to overcome the recent cost escalation and challenges in the build environment. “Having an in-house construction team lets us control feasibility, value management and quality from day one,” Moran says. “It’s critical in the current market, where construction escalation is at the forefront of every project’s viability.”

The company is also leveraging the NSW Government’s new Housing Delivery Authority process, which Moran describes as a more efficient pathway without compromising design standards. 
 
“We’re really applauding the NSW Government for its efforts to increase housing supply. There’s been a remarkable improvement in how they’re helping deliver more homes, more quickly.”

Billbergia has already commenced construction of Stage One of the Rhodes Bay masterplan. They will be lodging the State Significant Development Application before Christmas.

“We’re moving quickly, but with due care,” Moran says. “This is a generational precinct, and it needs to be done right.”

Billbergia smashes suburb record as Rhodes transformation continues

The sheer scale of the two skyscrapers at <a href="https://www.apartments.com.au/new-apartments/victoria-albert-broadbeach-20-albert-avenue-broadbeach-qld-4218">Victoria &amp; Albert</a>, soaring 40 and 64 storeys above the heart of Broadbeach, was always destined to deliver some of the highest and most luxurious apartments ever built in the suburb.

Now, builder-developer <a href="https://www.apartments.com.au/developers/iris-capital">Iris Capital</a> has unveiled the Horizon Collection, a selection of residences with the largest floorplans and most commanding views in the towers. The three-bedroom apartments, starting from $4.64 million, include butler’s pantries, multi-purpose rooms, and, in some layouts, master retreats with private sitting areas.

[smartcode_project:default project_id=107928 project_image_fid=3944]

The most prestigious apartments in the Horizon Collection are the sub-penthouses and penthouses. The two sub-penthouses on the 38th level of the Albert Tower are priced at $8.85 million.

Each features three bedrooms, a study, and a flexible multi-purpose room with a sliding partition that allows half the space to function as a games room.

The open-plan kitchen, living, and dining area, complete with a butler’s kitchen and private wine cellar, flows onto a full-width balcony framing panoramic coastal views.

[smartcode_project:default project_id=107928 project_image_fid=3943]

There is now just one sub-penthouse for sale on the 62nd level of the Victoria Tower, with one already secured by an expat owner-occupier. The remaining sub-penthouse, priced at $8.95 million, offers four bedrooms and a wraparound balcony that captures panoramic views up and down the Coast. vistas from every angle.

Crowning each tower is a full-floor penthouse offering multiple expansive indoor and outdoor living and entertaining spaces. Atop the Victoria building is Oceania, which measures over 735 sqm of living space, and Kurrara atop the Albert Tower, which is almost 800 sqm. They each have four bedrooms, including a master and guest suites, a full 360-degree panorama of the Gold Coast, and all the bells and whistles expected of a luxury penthouse. They are priced from a little over $18 million.

“Every detail, every finish has been thoughtfully considered to imbue the penthouses with the ultimate sense of luxury,” says Susan Rossi, Director of Interior Design at <a href="https://www.apartments.com.au/architects/dbi">DBI</a>, who led both the architecture and interiors for V&amp;A. “We shaped these skyhomes to embody the spirit of Gold Coast luxury.”

[smartcode_project:default project_id=107928 project_image_fid=234091]

Victoria &amp; Albert, colloquially known as V&amp;A, is the flagship Gold Coast development by the Sydney-based Iris Capital. Led by developer and hotelier Sam Arnaout, Iris Capital acquired the landmark Niecon Plaza site in 2021. At the time, Arnaout described the company’s expansion into Queensland as a strategic move to capitalise on one of Australia’s strongest growth markets.

“We were initially looking to expand into Victoria, but the massive migration to the regions that followed the pandemic created a new dynamic across the Australian market,” Arnaout said.

“From a strategic point of view, Queensland — and the Gold Coast in particular — is the perfect fit for our business. The fundamentals here are strong: genuine employment growth, high net migration, and an undersupply of apartments driven by strong demand. The Gold Coast has matured into a thriving, progressive regional city with a fantastic future.”

[smartcode_project:default project_id=107928 project_image_fid=234097]

Across its two towers, V&amp;A will deliver 425 luxury apartments, supported by a suite of resort-style resident amenities. These include a subtropical podium featuring a 25-metre lap pool, gym, yoga deck, residents’ lounge, kids’ play area, zen garden, and barbecue terraces with outdoor dining spaces.

<a href="https://www.apartments.com.au/project-marketer/colliers">Colliers</a> Queensland Director David Higgins, who has managed sales at V&amp;A since its 2021 launch, says the project has set a new benchmark for Broadbeach’s luxury apartment market. Colliers Queensland Director David Higgins, who has managed sales at V&amp;A since its 2021 launch, says the project has set a new benchmark for Broadbeach’s luxury apartment market.

“The premium market has definitely spoken, with V&amp;A having now reached over half a billion dollars in presales since our launch,” Higgins says, adding that over 65 per cent of V&amp;A is now sold.

“Our buyers continue to validate the success of the Victoria &amp; Albert development vision and the luxury amenity that comes along with their apartment purchase. Of course, Broadbeach’s most walkable location, just 100m from the Broadbeach surfing beach, makes this luxury apartment a compelling addition to your real estate portfolio.”

Last year, Iris Capital brought construction in-house through its new arm, Iris Built. Completion of the 40-level Albert Tower is scheduled for late 2027, with the 64-level Victoria Tower, the taller of the two, expected to follow in mid-2028.

[smartcode_project_cta:default project_id=107928]

Victoria & Albert’s Horizon Collection takes Broadbeach living to new heights

Showroom

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A warehouse and showroom property on the Nepean Highway, at Bentleigh in Melbourne’s south-east, has hit the market. 
It comprises a single level, solid brick, 435 square metre facility, with roller door access. 
Zoned Commercial 2, the site has a frontage of just under 11 metres, and a 46 space car park including eight spaces designated for the tenancy.
The property will be sold subject to a short term lease to Carpet Call currently returning $124,140 per annum net. 
Teska Carson’s Luke Bisset and Michael Ludski listed the asset.
"The Nepean Highway is one of Melbourne’s major arterial routes and has in recent years seen a significant rise in residential and commercial development and that is, in no uncertain terms, due to the accessibility it provides as a key transport link to the affluent bayside suburbs,’’ Mr Bisset said. 
Mr Ludski said the open plan layout provided operational flexibility to cater to a number of different uses.
The property will be auctioned March 5.  
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j.ballantyne1990-6AQqhLzZaK

Carpet Call Bentleigh showroom comes onto market

<html><body>
Kitchen, bathroom and laundry retailer e&amp;s has launched a designer showroom in Preston, adding to its existing nine showrooms across Victoria.
The new store aims to deliver an interactive experience and was designed by the interior and architecture firm Mim Design.
It will feature an array of products from more than 50 mid-range to luxury brands, including Sub Zero and Wolf, Neff, Bosch, Miele,Fisher &amp; Paykel, Asko, VZUG, Astra Walker, Duravit, Kohler, Gessi, Brodware, Victoria &amp; Albert, Villeroy &amp; Boch and SMEG.
Rob and Mike Sinclair, e&amp;s second generation owners, opened the store in December.
The 3039 square metre retail space has employed a team of 20.
<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/2019/2/5/Mim_Design_ES_0191.jpg" alt="">
“Launching an e&amp;s in one of Melbourne’s fastest growing suburbs just made sense,” Rob says.
He added it was fitted with an expansive demonstrative kitchen catering for workshops and events, along with a cafe for "pondering purchasers".
<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/2019/2/5/Mim_Design_ES_0372.jpg" alt="">
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Retailer e&s launches flagship store in Preston

<html><body>
Two properties in Molendinar on the Gold Coast, known in the automotive industry as ‘The Lion Park’, are for lease as Surfers City Holden is set to relocate to a new showroom.
The properties are positioned on one of the northern Gold Coast’s busiest intersections, on the corner of Southport Nerang Road and Olsen Avenue, across from Ashmore City Shopping Centre.
Both auto-dealership properties come with bespoke showrooms, workshop areas, ample storage facilities, offices and staff amenities including break and training rooms.
The 333 Southport Nerang Road offering is the smaller option of the two offering a gross lettable area of 2,034 square metres with ample onsite parking and car display yard.
The 566 Olsen Avenue property is positioned on the corner with 3,008 square metres of gross lettable area across the showroom, offices and workshop.
Incoming tenants have the option to acquire both properties or split the two for a smaller offering.
Knight Frank’s Tanaka Jabangwe said the properties have been auto-dealership sites for over 30 years.
Offers close October 4.
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Former Holden dealership sites on the Gold Coast up for lease

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A former car showroom converted to an office has sold under the hammer at a record land rate for a Commercial 2-zoned property in Melbourne's inner-northern suburb of Abbotsford.
Fitzroys’ Chris Kombi and Stuart Kennett sold the <a href="https://www.realcommercial.com.au/property-retail-vic-abbotsford-502692982" target="_blank">398 Johnston Street</a> property for $3.115 million. Eight parties were bidding and pushed the price to $700,000 above the reserve.
The price reflected a sharp yield of 3.1% and a record land rate of $7,710 per square metre.
The dual-fronted site of 404 square metres includes a refurbished building of 320 square metres, leased to building maintenance cloud solutions group Uptick on a 4 x 4 year deal returning $98,880 per annum plus outgoings and GST.
Kennett said the depth of the enquiry, which saw more than 120 enquiries received, and the outstanding result reflected a very hot market in this pocket of the inner city.
“The population of Melbourne’s inner-north is still booming as medium and high-density inner-city living are embraced in growing numbers, underpinning the viability of businesses in the area as opportunities to acquire sites of this potential become increasingly rare,” he said.
“The property was very well received by the wider market of investors, developers and owner occupiers with the versatility of the property and prospect of future capital growth driving the strong demand.”
Kennett and Kombi sold the property on behalf of a private investor.
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jrobinson-rf4aSBido9

Former Abbotsford car showroom fetches record price

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A showroom/office building on Church Street, Hawthorn has been slated for auction with $2.7 million plus expectations.
Located at 33 Church Street, the 520 square metre site, zoned Commercial 1, has nearly 17 metres of street frontage.
The property comprises a 427 square metre, double-fronted, brick showroom/office building with on-site parking for approximately seven cars.
According to marketing agents, Teska Carson’s Matthew Feld and Michael Taylor, the property will be sold subject to a short term lease to a tenant trading as The Kitchen Place at $72,000 per annum + GST and outgoings.
Feld said the property has development upside and a short term lease in one of Melbourne inner-east’s most popular retail and residential precincts.
“The property has great potential for any number of uses and will appeal to a broad range of buyers looking for assets in Melbourne’s best locations,’’ he said.
Taylor said the locality continued to see an upsurge in popularity due to high profile residential and commercial developments that have been completed in recent years as well numerous projects that are currently under construction or in the planning stages.
“The area has seen extensive residential and commercial development in recent times and that will continue, driven by Melbourne’s strong population growth, and property owners in the area will be the beneficiaries,’’ Taylor said.
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jonathanchancellor-7SQnKwU6yx

Church Street, Hawthorn showroom listed for $2.7 million plus

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Savills Australia is marketing two showrooms occupied by national retailer, The Good Guys at Fountain Gate Super Centre in Melbourne’s outer east. 
The property is expected to fetch more than $7.25 million when offers close June 17.
The property at 48-50 Victor Crescent, Narre Warren, comprises showrooms 12 &amp; 13, totaling 2350 square metres.
Savills Australia industrial director Chris Jones says the property offers a secure income stream with a long established tenant of 15 years .
It comes with a ten year lease to Sheedy-Muirs Pty Ltd (The Good Guys) at a current net income of $561,605 per annum
"The property is part of a well-established showroom precinct including Snooze, Amart Sports Barbecues Galore, Ray’s Outdoors and Spotlight, which is located directly adjacent to a Bunnings Warehouse and the Fountain Gate Shopping Centre, the Monash Freeway, and Narre Warren-Cranbourne Road.
"The key driver for the co-location of such a plethora of national brand retailers has been the surrounding residential catchment in the City of Casey, one of Victoria’s fastest growing municipalities,’’ Mr Jones said.
Chris Jones said showroom properties had been popular with investors this year including the recent sales of a showroom in Epping which sold for circa $6 million on a 6.5% yield and a showroom at 1085-1087 Western Highway, Ravenhall which sold for $5.25 million on a 6.9% yield. 
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