Roseville is poised for a wave of new apartment development following the NSW Government's rezoning of land around Roseville Station under its Transport Oriented Development program.

The new planning controls have unlocked significant development potential within walking distance of the station, with a number of sites expected to be amalgamated and redeveloped in the coming years as developers seek to take advantage of the increased density allowances.

One of the more restrained developments in the precinct, and set among the first to be delivered having commenced well before the recent changes, is Hyecorp's Juliet. The boutique apartment project is already well under construction and remains on track to welcome residents by the end of the year, offering a markedly different proposition to many of the larger-scale developments now likely to emerge across the suburb.

[smartcode_project:default project_id=7395 project_image_fid=278194]

<a href="https://www.apartments.com.au/new-apartments/juliet-roseville-64-pacific-highway-roseville-nsw-2069">Juliet</a> will comprise just&nbsp;34 one-, two-, and three-bedroom apartments opposite Roseville Station. For Hyecorp, which has delivered projects across Sydney's Lower North Shore for more than three decades, Roseville presented a rare opportunity to address a growing gap in the market.

"<a href="https://www.apartments.com.au/developments/roseville-nsw-2069">Roseville</a> has long been one of the North Shore's most tightly held and desirable suburbs, offering a unique combination of village charm, established greenery, excellent transport connections, and proximity to some of Sydney's best schools and lifestyle amenities," Hyecorp said.

"We recognised a growing demand from local homeowners seeking to downsize without leaving the community they have built their lives around. The location presented a rare opportunity to create homes that cater specifically to that buyer profile."

[smartcode_project:default project_id=7395 project_image_fid=278196]

The six-level development has been designed by <a href="https://www.apartments.com.au/architects/pbd-architects">PBD Architects</a> as a collection of residences that feel more like homes than apartments. The brief centred generous floorplans, abundant natural light, quality finishes, and strong connections to outdoor space.

PBD Architects drew inspiration from Roseville's established garden suburb character, creating a building that sits comfortably within its surroundings rather than dominating them. The architecture incorporates natural materials, soft forms, layered landscaping, expansive balconies, and generous setbacks to strengthen the connection between residents and the suburb's leafy environment.

"The focus was on designing spacious, house-like residences for discerning owner-occupiers and downsizers who wanted to remain on the North Shore without compromising on comfort, privacy, or design," PBD said.&nbsp;

"Every apartment was to feel considered, timeless, and highly functional."

[smartcode_project:default project_id=7395 project_image_fid=278195]

Inside, residences feature engineered timber flooring, stone kitchen benchtops and splashbacks, integrated Fisher &amp; Paykel appliances, ducted air conditioning, and large outdoor entertaining areas designed to take advantage of district and treetop views.

Residents will also have access to a rooftop barbecue and lounge area, alongside practical amenities including parcel lockers, EV charging capability, bicycle storage, a dog wash bay, and a basement car wash facility.

The majority of purchasers so far have been local owner-occupiers from Roseville, Lindfield, Chatswood, Killara, and the broader Upper North Shore, many of whom are transitioning from larger family homes.

"Buyers are looking for spacious, house-like apartments that allow them to downsize without feeling like they are sacrificing comfort or functionality," Hyecorp noted.

"They value large kitchens, generous living areas, ample storage, quality finishes, secure parking, lift access, and low-maintenance living."

[smartcode_project:default project_id=7395 project_image_fid=278204]

Juliet sits directly opposite Roseville Train Station and within walking distance of Roseville Village, while Chatswood's retail and dining precinct is only minutes away. The development is also surrounded by some of Sydney's most established schools, including Roseville College, Ravenswood, Pymble Ladies' College, and Knox Grammar, as well as nearby parklands and golf courses.

Juliet is currently more than 75 per cent sold ahead of its anticipated completion in late 2026.

[smartcode_project_cta:default project_id=7395]

Joel Robinson

Juliet to sit quietly amid Roseville apartment boom

Sherpa Property Group has unveiled the third instalment of its Flourish series, securing full approval for the two-tower, $500 million Flourish Soleira development in Palm Beach.

<a href="https://www.apartments.com.au/new-apartments/flourish-soleira-1150-1154-gold-coast-highway-palm-beach-qld-4221">Flourish Soleira</a> will rise from a prominent site in the commercial heart of Palm Beach, the long-time home of Cash Converters and a range of local retailers.

The project will introduce a new retail and dining precinct at ground level, beneath 286 apartments.

[smartcode_project:default project_id=150017 project_image_fid=370959]

“We’re very committed to not only providing affordable residential offerings that are much needed in Palm Beach, but also delivering a vibrant new commercial heart that complements the extraordinary growth of the southern Gold Coast,” Sherpa Property Group founder Christie Leet said.

The development will sit under Sherpa's Flourish brand, which is aimed at providing a pathway into the beachside suburb for locals, first-home buyers and downsizers. In a move designed to assist first-home buyers entering the market, Sherpa has reserved all one and two-bedroom, one-bathroom apartments exclusively for eligible first-home buyers.

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“Our vision through Flourish is to create a vibrant retail and lifestyle focal point within the Palm Beach centre zone, delivering thriving communities underpinned by lifestyle-rich locations,” Leet said.

“So far, Flourish has been an incredible success, and we hope to carry this momentum as we progress the next two Flourish projects in Palm Beach.”

[smartcode_project:default project_id=150017 project_image_fid=371430]

Located across 1150-1164 Gold Coast Highway and 3 Sixth Avenue, the development will comprise two towers. The northern tower will deliver 154 apartments, while the southern tower will add a further 132 residences, helping address ongoing demand for new apartments in the tightly held coastal suburb.

Flourish Soleira will also feature the most extensive rooftop amenity offering ever delivered in Palm Beach.

The two towers will be connected by a skybridge, with residents gaining access to a rooftop recreation deck featuring a full-width swimming pool, hot and cold plunge pools, wellness spaces, a gymnasium, private dining facilities, massage treatment rooms, barbecue areas, a basketball court, golf simulator, indoor and outdoor dining spaces, sun lounges and extensive landscaping.

LPS Group is expected to start construction later this year.

Sherpa is already well advanced on construction of its debut Flourish project, Flourish Amargo, located just around the corner from Soleira. Meanwhile, Flourish Oasis, positioned opposite Amargo, recently commenced construction and has nearly sold out its collection of 47 apartments.

[smartcode_project_cta:default project_id=150017]

Sherpa unveils $500m mixed-use Palm Beach precinct, Flourish Soleira

Are mortgage holders set to get a reprieve from the RBA in 2026?

Big Four bank NAB believes so. They are now expecting the next move from the RBA to be a cut, rather than a hike, which they had pencilled in for August. They are unsure of the timing of the cut however, they note in their latest&nbsp;NAB Economics RBA Watch.

NAB Chief Economist, Dr Sally Auld, said recent data suggests the economy has lost momentum and the outlook for rates has shifted, noting that the broader economic backdrop has changed since earlier in the year.

“The next move in the cash rate is likely to be down, but the timing is uncertain," Dr Auld said.

"In February, growth was above trend, the economy was operating above capacity and there was uncertainty over the restrictiveness of rates. None of these conditions exist today,” she outlined.

Dr Auld said recent data pointed to softer momentum across the economy while acknowledging that at the same time, uncertainty remains a key feature of the outlook.

“Both Q1 GDP data and the NAB business survey suggest momentum in the economy has slowed, meaning that growth has likely peaked for the cycle. That said, we are cognisant there is still considerable uncertainty around the outlook, both with respect to activity and inflation.”

Dr Auld said inflation risks and labour market outcomes would be important to watch.

“On the prices side, we are still forecasting above target core inflation through to mid-2027. Margins will compress and weaker labour market outcomes are a risk.”

She said tighter financial conditions are expected to weigh on housing and activity.

“Tighter financial conditions will be reflected in a slowing in house price growth and housing credit growth. In summary, we have greater conviction that the next move in rates is down, but less conviction on the timing.”

Mortgage relief? NAB forecasts RBA rate cut, not hike, after softer economic conditions

A local downsizer has splashed $6.5 million on a penthouse in Perifa's Alex &amp; Willow development in Crows Nest. 
&nbsp; 
The purchaser sold their long-held family home in the area before embarking on a six-month search for the right apartment. After inspecting a range of options across the Lower North Shore, the buyer returned to <a href="https://www.apartments.com.au/new-apartments/alex-willow-crows-nest-82-90-alexander-street-crows-nest-nsw-2065">Alex &amp; Willow</a>. 
&nbsp; 
The buyer profile reflects the project’s broader purchaser mix. <a>Alex &amp; Willow</a> has attracted predominantly local downsizers looking to transition from larger homes without compromising on space or quality, alongside a smaller cohort of upsizers and investors drawn to the project’s location and design credentials. 
&nbsp; 
The milestone sale comes as the project, developed by&nbsp;<a href="https://www.apartments.com.au/developers/perifa">Perifa</a>&nbsp;and delivered by <a href="https://www.apartments.com.au/builders/versatile-made-construction">Versatile Construction</a>, both part of Versatile Group, reaches 60 per cent sold.

[smartcode_project:default project_id=6680 project_image_fid=371325] 
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Eddie Mansour, Managing Partner of <a href="https://www.apartments.com.au/project-marketer/ray-white-projects">Ray White Projects</a>, said the result demonstrates not only a headline price but also depth of demand. 
&nbsp; 
“This is an exceptional outcome and a clear reflection of sustained buyer demand for premium, well-located downsizer product,” Mansour said.

“We’re seeing a consistent pattern of local homeowners selling family residences and reinvesting into high-quality apartments that allow them to remain within their community. Alex &amp; Willow has resonated strongly with this group because it offers genuine scale, thoughtful design and immediate proximity to the village.” 
&nbsp; 
The sale reflects a broader and consistent trend of local downsizers actively seeking high-quality, low-maintenance residences close to established village centres. Agents report that demand for this product type has remained resilient, particularly where developments offer a rare combination of scale, design quality and walkable amenity. 
&nbsp;&nbsp; 
Fabrizio Perilli, Managing Director of Perifa and Versatile Group, said the sale marks a defining moment for the project. 
&nbsp; 
“The penthouse sale is a strong endorsement of the quality we have delivered, alongside our partners, and the clear demand from local downsizers for premium, boutique residences in this location,” Perilli said.&nbsp; 
&nbsp; 
“Most importantly, we’re proud to see the Alex &amp; Willow community beginning to take shape. As we move closer to completion, we’re looking forward to welcoming residents and seeing the project come to life.”&nbsp;

[smartcode_project:default project_id=6680 project_image_fid=338516] 
&nbsp; 
Designed by <a href="https://www.apartments.com.au/architects/nettletontribe">Nettleton Tribe</a> with interiors by <a href="https://www.apartments.com.au/interior-designers/richards-stanisich">Richards Stanisich</a>, Alex &amp; Willow is a boutique collection of generously sized two- and three-bedroom residences in the heart of Crows Nest village.&nbsp;

Completion is slated for early 2027.

[smartcode_project_cta:default project_id=6680]

Alex & Willow, Crows Nest penthouse sells off the plan for $6.5 million

Fresh from launching the first stage of its Wollongong precinct, <a href="https://www.apartments.com.au/new-apartments/keira-place-wollongong-120-122-smith-street-wollongong-nsw-2500">Keira Place</a>, builder-developer Urban Property Group has unveiled plans for the next phase of the masterplanned community.

Now on public exhibition through the NSW Government's Housing Delivery Authority pathway is a State Significant Development Application for a further 657 homes on the prominent gateway site opposite Beaton Park.

The proposal comprises three buildings, including two build-to-sell towers rising 25 and 30 storeys, delivering 391 apartments, alongside a 12-storey co-living building with 266 residences, making it one of the largest co-living proposals currently planned in regional New South Wales.

Of the apartments proposed in the build-to-sell towers, the majority, 310, are two-bedroom dwellings. The balance comprises 44 one-bedroom apartments and 37 three-bedroom residences. Apartment sizes range from around 50 sqm for one-bedroom homes to approximately 90 sqm for three-bedroom apartments.

<img alt="Smith St" data-entity-type="file" data-entity-uuid="19347059-1612-41a0-9c74-b86a657237f8" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-06-10%20at%2010.02.18%E2%80%AFAM.png?VersionId=sWXnaCcA.cIC6N8YT1dg5pJ2e1V3Z6z7" />

The submission says the proposal has evolved significantly from its original Housing Delivery Authority application following extensive consultation with the State Design Review Panel and Wollongong City Council.

The final scheme has been designed to align with the emerging vision for the Flinders Street Precinct, an area identified by Council as a future high-density mixed-use neighbourhood capable of accommodating substantial housing growth close to transport, employment and community infrastructure.

According to the design report prepared by COX Architecture, the development aims to "deliver a built outcome consistent with the future character of the Wollongong CBD while responding to the site's unique constraints and opportunities."

"Our vision for the next phase of the site evolution in Wollongong is grounded in three design pillars that guide the design response: place, natural environment and celebration," COX said.

"Inspired by its surroundings and grounded in the stories of place on Wodi Wodi Country, the design proposal acknowledges the established character of its setting while creating a unique and timeless identity that sits harmoniously within it.

"The design proposal responds to its specific site conditions, acknowledging the vegetation, climate, wind conditions and solar access of the site."

The architecture responds directly to the site's position between Wollongong's urban core and its natural landscape setting.

COX identified views towards Mount Keira and the Illawarra Escarpment as defining features of the site, while the upper levels of the towers will also capture expansive views across the city and out to the Pacific Ocean.

The design team has positioned the tallest buildings closer to the rail corridor, where overshadowing impacts can be better managed while establishing a landmark built form on the northern approach into the city.

<img alt="Smith St" data-entity-type="file" data-entity-uuid="79580d5b-500c-4ebf-9629-797146a4a694" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-06-10%20at%209.51.59%E2%80%AFAM.png?VersionId=WbTB1EKSG.KDfsfz0F3wp1QVa2oCMGR5" />

Urban Property Group secured the 11,000 sqm Smith Street site in 2022 and has since progressed plans for the broader Keira Place precinct.

Construction recently commenced on the first stage of Keira Place, which will deliver 150 apartments across two residential buildings, including 27 affordable housing apartments and 18 specialist disability accommodation dwellings, alongside activated ground-floor retail and commercial space.

Urban Co-CEO Patrick Elias said the commencement of construction marked a significant milestone for Wollongong and reflected the developer's long-term commitment to regional cities.

"Today's groundbreaking is about turning approvals into homes and moving quickly to deliver much-needed housing in Wollongong's city centre," Elias said.

"Keira Place will provide a diverse mix of homes close to jobs, transport and services, while setting a high benchmark for quality, durability and consumer protection."

Read more:&nbsp;<a href="https://www.apartments.com.au/news/nsw/groundbreaking-marks-start-of-construction-at-keira-place-in-wollongong-cbd">Groundbreaking marks start of construction at Keira Place in Wollongong CBD</a>

&nbsp;

&nbsp;

&nbsp;

Urban Property Group unveils trio of towers for next stage of new Wollongong precinct, Keira Place

Sorrento

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The Gold Coast home of former Mantra CEO Bob East and wife Susan has been listed for sale.
East left the company he floated just a few days ago after the Accor takeover.
The Sorrento property was bought in Susan's name for $2.77 million in 2014 when they were upgrading from nearby. It was known as Riviera Lodge.
The 2370 square metre double waterfront block holds a 10 metre swimming pool, spa, adjacent cabana with outdoor kitchen and a tennis court.
The home has a 710 square metre floorplan and comprises five bedrooms, five bathrooms and a media room.
There's 23 metres of water frontage and nine metre pontoon facilities.
Michael Kollosche at Kollosche Prestige Agents has a $3,995,000 asking price.
East joined the Mantra Group in 2006 and was made CEO a year later.
Late last year he was named the Chair of Tourism Australia.
The property was owned by the former Rolls-Royce car dealer David Baird and wife, Marion in the mid-1990s.
This article first appeared in The Weekend Australian.
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Former Mantra CEO lists Gold Coast home after company takeover

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At Sorrento on the Mornington Peninsula, some $3.5 million to $3.6 million is being tipped for the homes of Steve and Vicky Smith of Smith Builders .
They have listed their <a href="https://www.realestate.com.au/property-house-vic-sorrento-127255370" target="_blank">Wolveridge Architects-designed beach house</a>, fully furnished by Coastal Living.
The four-bedroom, three-bathroom property is set on a 1345 sqm lot.
<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/2018/1/24/SORR2.jpg" alt="">
It combines rammed earth and recycled timbers in a light-filled, open-plan design featuring a skylit Miele kitchen, bespoke cabinetry, a Jetmaster open fire and a double garage. 
There are multiple outdoor retreats, landscaped gardens and a heated pool. 
Rob Curtain of Peninsula Sotheby’s International Realty has the listing.
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Architect designed Sorrento home for sale

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A striking Sorrento home not far the Sorrento Sailing Couta Boat Club and Blairgowrie Yacht Squadron has been listed for sale.
Expressions of interest close January 31, 2018 with offers expected between $4.4 million and $4.8 million.
Adjacent to Camerons Bight down a private road, the Camerons Close home has views across the bay from the upper level living, dining and kitchen area, as well as the outdoor entertaining deck.
The property has four bedrooms, three bathrooms and a study. 
There is a solar heated, self-cleaning 17 metre swimming pool.
<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/2018/1/9/mart.jpg" alt="">
The 2,000 sqm parcel last sold for $680,000 in 2007 before its build.
Briggs Shaw Blairgowrie agent Sally Johnstone and Stephen Brown are marketing the home.
 
 
 
 
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Camerons Close, Sorrento trophy home has $4.4  million plus hopes

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Parkside Beach House, the luxury Sorrento home, is one of the finest in the Mornington Peninsula.
Created by Cera Stribley architects and built by 2ic Construction, the <a href="https://www.realestate.com.au/property-house-vic-sorrento-127001266" target="_blank">striking holiday home</a> was inspired by the iconic Mornington bathing boxes synyonymous with the area.
The entry to the luxury designer home is through a gallery entrance with curved timber-lined walls leading to the ground floor living zone, complete with two bedrooms, two bathrooms and its own kitchen and living space.
<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/2017/12/15/park2.jpg" alt="" style="font-size: 12.16px;">
Upstairs there's a further four bedrooms, another kitchen and a theatre room.
A heated swimming pool and spa is accompanied by a poolside precinct set in the landscaped gardens on the 1267 sqm elevated parcel.
Peninsula Sotheby's agents Rob Curtain and Danielle Vains are asking $3.8 million.
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Sorrento's Parkside Beach House listed

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Set across the road from one of Perth’s most popular beaches, the three-level property at 90 West Coast Drive, Sorrento was built in 2010.
The <a href="https://www.realestate.com.au/property-house-wa-sorrento-126991218" target="_blank">five-bedroom</a>, five-bathroom property which comes with a six-person lift, has been listed by Jenny Hughes, from Realmark Coastal.
<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/2017/12/11/sorr2.jpg" alt="">
She said the owners live in Perth and use it as their holiday home.
The home last sold for $4.5 million in 2011.
The property is on the market with an asking price from $4.25 million.
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Sorrento weekender listed by Perth family

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Melbourne property developer, Steller, has entered into a joint venture partnership with hotelier Julian Gerner, to renew the Continental Hotel in Sorrento. 
The Victorian landmark has been withdrawn from its current sales marketing campaign which saw a leaseback as a prospect.
It will will undergo total restoration, renovation and refurbishment. 
Steller's Nicholas Smedley said the building works will complement and enhance the existing heritage.
It seems Steller had a close eye on the historic hotel since Julian announced plans for restoration. 
Julian Gerner acquired the hotel early in 2015, purchased a neighboring parcel of land and obtained heritage and planning approvals to redevelop the site earlier this year.
"I am very proud to be the new custodian of the Continental Hotel and to breathe life back into a Sorrento landmark,” Smedley said. 
Construction commences in 2018 with plans for a soft launch in the summer of 2018/2019.
Located at 1-21 Ocean Beach Road, the Continental Hotel is believed to be the largest limestone structure in the Southern hemisphere.
It is National Trust-listed having been built in 1875 by the ‘Father of Sorrento’ comedian, actor, entrepreneur and politician, George Coppin.
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Smedley deal sees Continental Hotel Sorrento pulled from sale

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The grand Mornington Peninsula landmark, the 1875-built Continental Hotel is set to be listed for sale.
It is being marketed through CBRE and Sotheby's International with reputed $20 million hopes.
"‘The Continental Hotel - one of the Australia’s best mixed use development opportunities - is about to hit the market with all the hard work completed," Sotheby's agent <a href="https://ink361.com/app/users/1474484720/peninsulaproperties/photos/1634081677990916368_1474484720" target="_blank">Rob Curtain advised his Instagram followers</a>.
The hotel is being offered by the hotelier Julian Gerner, who acquired it for $15 million plus mid-last year.
Gerner had plans of adding a apartment building, a wellness centre and cafe, yoga deck, lap pool, along with 38 new hotel rooms, a modern public bar, an up-market restaurant, and two function rooms, aimed at the peninsula’s booming tourism, wedding, golf and winery tour markets.
He told the local paper earlier this year that he would “absolutely see through” after approvals have been received.
“We took the case to VCAT and are pleased they found in our favour,” he said.
“I’ll have to start raising the money now but, mostly, my part is done for a while.
“The finance side is far too technical for me and will be done by others. Works will start when [the project] is fully funded.”
Gerner, who runs restaurants and a wine store opposite the Sorrento foreshore, made a name at the Melbourne Pub Group before sea-changing to Sorrento.
The Continental Hotel closed in May for its redevelopment.
Prospective buyers have been advised the vendor of The Continental Hotel was interested to take up a long term lease over the hospitality and commercial components of the completed Continental development.
The operation would include the hotel, restaurant, cafe, car park, retail, bottle shop, wellness centre and pool facility.
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Its indicative commencement rent was $1,800,000 plus GST and outgoings. 
 
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Sorrento's Continental Hotel makes quick return to market with VCAT approvals

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A contemporary four bedroom Sorrento, Queensland house has been listed for $1.55 million plus.
Located at <a href="https://www.realestate.com.au/property-house-qld-sorrento-125239426" target="_blank">135 Campbell Street</a>, the 800 sqm property is practical and offers a wide variety of options for living and entertaining guests.
Featuring an oversized media room or additional living area that is separated from the living and dining areas.
Four bedrooms are available as well as an office and resort-style bathrooms.
Meanwhile the master bedroom features a walk-in robe, water views and double vanity ensuite.
<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/2017/05/23/135%20Campbell%20Street-2.jpg" alt="">
There is also an east-facing outdoor patio and large covered alfresco that overlooks the waterway.
The property also has a new pool, solar hot water and panels.
The property is offered through Lucy Cole Prestige Properties agents John Cole and Lucy Cole.
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Contemporary Sorrento house listed for $1.55 million plus

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Sorrento's Nee Morna, one of Victoria's most historic estates, is tipped to have been bought by BRW Rich Lister and property developer Andrew Buxton for $18.1 million.
After the sale sign came down, it has been reported by Domain that Buxton had secured the clifftop home on the Western Sister headland.
It had only been on offer for the second time in around 100 years.
Built in 1909 on a landholding spanning 16,866 sqm, the Federation home has eight bedrooms and five living areas.
<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/2017/04/6/Point%20Nepean.jpg" alt="" width="410" height="249">
Nee Morna, which means 'laughing water' in the language of the Bandjin and Dijru people, was sold by New York stockbroker Alex Lipe who restored the mansion.
The land had once been controlled by politician and entertainment entrepreneur George Coppin.
Andrew Buxton co-formed MAB, a leading Australian property development company, with his brother Michael.
 
 
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Sorrento's Nee Morna rumoured to have sold to BRW Rich Lister Andrew Buxton

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A Melbourne strip retail at Sorrento has been sold for $3.71 million at weekend auction.
Located at <a href="https://www.realcommercial.com.au/property-retail-vic-sorrento-502246230" target="_blank">157-163 Ocean Beach Road</a>, the property is at the heart of the beachside destination.
It is a Commercial Zone 1 landholding of 554 sqm on a major corner with over 200 car spaces available.
There is strong holding income from two retail buildings, Happy Days Sorrento and Patrick's, totalling $103,941 per annum with no further options after 2019.
There is potential to create a mixed-use development with views over Pioneer Memorial Gardens.
It last sold in 2004 for $1.5 million and $475,000 in 2000.
It was offered by CBRE Melbourne Strip Retail Investments in conjunction with Jellis Craig.
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