Lendlease’s Barangaroo South precinct is officially complete, marking the culmination of a 15-year urban regeneration project that has revitalised Sydney’s harbourfront.&nbsp;

In 2009, the NSW Government’s Barangaroo Delivery Authority appointed <a href="https://www.apartments.com.au/developers/lendlease-development">Lendlease</a> as developer to transform what was once an inaccessible container port on the western edge &nbsp;of Sydney’s CBD into one of the city’s most thriving mixed-use destinations. Today, Barangaroo South is home to more than 1,800 residents, 23,000 workers, 95 retailers and welcomes 33,000 visitors each day. The precinct stands as an international benchmark for large-scale urban regeneration.&nbsp;

International Towers Sydney, the three flagship commercial buildings at the centre of &nbsp;Barangaroo South, together with engineered timber buildings Daramu House and &nbsp;International House, attracted major corporate tenants from the outset, including Westpac, &nbsp;PwC and KPMG, who are still there today. These workplaces remain some of the most &nbsp;sought after in Sydney’s CBD with over 95 per cent occupancy– a testament to the appeal of world-class, modern infrastructure alongside the precinct’s dining and entertainment that &nbsp;are a drawcard for businesses.&nbsp;

One Sydney Harbour, the three luxury residential towers designed by world-renowned architect Renzo Piano, has achieved more than $4 billion in sales since its launch in 2019, while setting new Australia property price records. This includes the three-level penthouse that crowns Residences One which sold for more than $141 million in 2019 – the most expensive individual residential property ever sold in Australia. &nbsp;

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Barangaroo South is also Australia’s first mixed-use carbon-neutral development, an accolade achieved through energy-efficient and innovative infrastructure, including a district cooling plant with a harbour water heat rejection system, a recycled water &nbsp;treatment plant, onsite solar and an embedded electricity network.

The precinct has maintained its Climate Active Carbon Neutral certification since 2019, affirming its &nbsp;reputation as the gold standard in large scale, sustainable urban renewal. Additionally, its &nbsp;world leadership status has been validated by the Green Building Council of Australia’s &nbsp;6 Star Green Star Communities recertification (Pilot v.2).

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First Nations cultural values were embedded throughout the planning and delivery of the project. The precinct honours Barangaroo, a prominent First Nations woman, through its &nbsp;name. Public art, street names, and design elements across the precinct reflect and &nbsp;celebrate First Nations cultures and connections to Country.&nbsp;

The project's completion positions Barangaroo South as a legacy urban transformation delivered through long-term partnerships and world-leading urban regeneration and placemaking capabilities. &nbsp;

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Tony Lombardo, Group CEO Lendlease, said&nbsp;Barangaroo South represents one of the most significant urban regeneration projects in Australia.

"[It] demonstrates what can be achieved through an ambitious vision, innovative placemaking, long-term commitment and strong partnerships. The precinct has changed the face of Sydney's waterfront, established new benchmarks &nbsp;for sustainable development, and provided a model for urban regeneration that continues &nbsp;to inform our approach to creating places that deliver long-lasting value.”&nbsp;

Tom Mackellar, CEO Development Lendlease, said&nbsp;Barangaroo South has reconnected the city to its harbour in a way that seemed unimaginable 15 years ago and turned it into a thriving precinct where people can live, work and gather on the harbour’s edge.&nbsp;

“This precinct is the result of countless contributions, led by the NSW Government who set the ambition, supported by investment partners who believed in Lendlease’s vision, imagined by architects and designers, shaped by consultants and artists, and brought to &nbsp;life by our dedicated construction teams. &nbsp;

“What we’ve created here is more than buildings – it’s the best of placemaking, sustainability, arts and culture and quality design. Barangaroo South has become an integral part of Sydney that will serve our city and economy for generations.”

Staff Writer

Barangaroo South’s 15-year transformation of  Sydney’s waterfront officially complete

CBE Asia Pacific has lodged plans for a prominent corner site in Fitzroy North, with a proposal that integrates state-significant affordable housing alongside heritage adaptation and new retail.

The application covers a consolidated 2,024 sqm parcel at 201–215 Queens Parade and 6–12 Dummett Crescent. The site includes the heritage-listed Former Clifton Motor Hill Garage, fronting Queens Parade, and vacant land to the rear abutting Dummett Crescent.

According to planning documents prepared by proUrban, the proposal seeks approval for a 12-storey residential building comprising 98 apartments, including a component of affordable housing, over a ground floor retail podium integrated within the heritage structure. Approximately 780 sqm of retail space will occupy the ground floor, while residents will have access to over 850 sqm of communal amenity.

The built form presents as two connected volumes: a 12-storey tower addressing Dummett Crescent and a five-storey volume fronting Queens Parade, the latter consistent with a separate Heritage Victoria permit granted in 2023. The tower reaches a maximum height of 38.26 metres, with upper-level setbacks of 14 metres from the western boundary to reduce visual bulk. A 1.5-metre footpath widening is proposed to Dummett Crescent Lane.

Parking is provided across four basement levels, accessed via Dummett Crescent, with a total of 142 car spaces and 143 bicycle spaces.

The architectural response by <a href="https://www.apartments.com.au/architects/cht-architects">CHT Architects</a> is framed by a need to reconcile new density with a sensitive heritage overlay. The Former Clifton Motor Hill Garage, identified as a place of State heritage significance, will retain its key façades, with demolition and reconstruction limited to approved elements.

As noted in the Heritage Impact Assessment, the proposal remains consistent with the Heritage Victoria permit, which allows "partial demolition, reconstruction and new works, involving the construction of a five-storey multi-use development and three basement levels".

Affordable housing has been embedded into the proposal under Clause 53.23, with specific apartment allocations aimed at enhancing housing diversity within the Queens Parade Activity Centre.

"The proposal is generally consistent with the relevant policy objectives and the intent of the Yarra Planning Scheme," proUrban states in its planning assessment, citing its alignment with strategic documents including Plan Melbourne and Victoria’s Housing Statement.

CHT Architects' plans emphasise a tiered design that acknowledges the site's varied interfaces—from the elevated Heidelberg Road ramp reserve to the recently built Clifton Views aged care facility to the north-east.

CBE Asia Pacific has not been previously active in this precinct, but the project joins a wave of higher-density residential proposals along the Queens Parade corridor, spurred by Melbourne’s broader push to increase affordable housing in well-connected inner-urban areas.

The site benefits from direct access to the Queens Parade tram corridor and proximity to Clifton Hill Station (approximately 200 metres), as well as green open spaces including Mayors Park and Raines Reserve. Clifton Hill Primary School and the Queens Parade retail village lie within walking distance.

First look: CBE Asia Pacific plans 100-apartment Jenkin House on Queens Parade, Fitzroy North

ALT Pasta, one of Melbourne’s most beloved inner-city pasta bars, has been confirmed as one of the first tenancies for the highly anticipated <a href="https://www.apartments.com.au/new-apartments/comme-prahran-182-194-commercial-road-prahran-vic-3181">Comme Prahran</a> development, marking an exciting next chapter for the cult favourite as it prepares to expand into the heart of <a href="https://www.apartments.com.au/developments/prahran-vic-3181">Prahran</a>.

Fresh off being named National Best Italian Restaurant at the 2025 Restaurant &amp; Catering Hostplus Awards for Excellence, ALT continues to solidify its reputation as a quietly confident leader in Melbourne’s dining scene. Lauded for its reinterpretation of Italian pasta through a Korean and Japanese lens, the restaurant has grown into a staple since opening three years ago, and its new Prahran outpost will only deepen its local impact.

“From the very beginning, ALT has been about respect - for tradition, for ingredients, and for the process,” shares Mino Han, ALT’s founder, a Korean-Australian chef whose vision is shaped by cultural duality and craftsmanship.&nbsp;

“We’re not trying to reinvent the wheel, just make something beautifully familiar, feel quietly special,” added Han.

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Positioned at the entrance to Comme Prahran and directly opposite the iconic Prahran Market, the new venue will celebrate the interplay between casual comfort and elevated detail. Designed in collaboration with Rooftop Architecture, the same team behind ALT’s flagship city location, the space will mirror the neighbourhood’s laid-back energy while staying true to the brand’s understated refinement.

Diners can expect a frequently changing menu that takes advantage of the market’s daily produce, along with set menu offerings exclusive to this location. A distinctive chef’s table and open kitchen format are also in the works, allowing guests to experience ALT’s signature intimacy and transparency in a new light.

ALT Prahran won’t replace the original venue; rather, it complements it.

“Our city site is like our heritage bottle; it’ll age gracefully. Prahran is where we’ll play, explore new ingredients, and bring something special to the community,” Mino notes.

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For Comme Prahran, a boutique development by Leeka that blends heritage with multi-dimensional wellness, ALT Pasta’s arrival signals a meaningful addition to its vision of cultural connection, food-first living, and local engagement.

“Being part of Comme is more than just opening a second venue. It’s about contributing to a neighbourhood with character, history, and a strong sense of community. That’s something we deeply relate to,” says Mino.

Sustainability and cultural identity are deeply embedded in the ethos of ALT. From ingredient sourcing to interior design, the new location will reflect both environmental mindfulness and a spirit of inclusion, embodying the values of Melbourne’s diverse, forward-thinking culinary scene.

Comme Prahran is scheduled for completion in late 2027, with ALT Pasta expected to be among the first tenancies to open its doors shortly after.

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National best Italian restaurant ALT Pasta to open at Comme Prahran, bringing refined familiarity to Melbourne’s culinary heart

National BEST Italian restaurant ALT Pasta to open at Comme Prahran

&nbsp;Boutique development and construction firm Ryser has filed plans for its debut apartment building.

Ryser, founded by Jonthan Ryan and Wil Prosser, has sought to develop <a href="https://www.apartments.com.au/new-apartments/sorelle-4a-fern-place-woollahra-nsw-2025">Sorelle</a>, 28 new apartments at 4a Fern Place, Woollahra.

The&nbsp;750 sqm site on the edge of Bondi Junction falls within the Grafton Precinct Heritage Conservation Area, though it is currently vacant and not identified as a contributory item.&nbsp;

<a href="https://www.apartments.com.au/architects/woods-bagot">Woods Bagot</a> has been commissioned to design Sorelle, creating an eight and a nine-storey building with six apartments dedicated to affordable housing to support essential workers&nbsp;under the NSW Government’s low and mid-rise housing policy.

The dwelling mix includes 12 one-bedroom units, six one-bedroom affordable units, six two-bedroom units, and four three-bedroom residences.<img alt="4A Fern Place, Woollahra." data-entity-type="file" data-entity-uuid="86626941-772d-49c5-8d31-a8e42f44cdcc" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Fern%20bldg%20st.png?VersionId=tWIzXYX9gD60nP1L3..Z0BFbY5mafb36" />

According to the planning documents submitted to the Woollahra Council, the development responds to the complex interface of heritage fabric and urban infrastructure with two mid-rise residential buildings oriented to the north and designed to capitalise on sweeping views over Sydney Harbour and Bellevue Hill.&nbsp;

“The proposal aims to hero some of the brick detailing of Woollahra, celebrating the existing datums of Fern Place, whilst embracing the strong verticals of the Holy Cross Church and Bondi Junction with a nod to the historic iron works and iron rich soils of the area,” Woods Bagot noted in their Design Report.

&nbsp;

Only three car parking spaces are proposed, alongside 33 bicycle bays, in a move that leverages the site's proximity to Bondi Junction train station, just 400 metres away.

Architecturally, the material palette incorporates Corten steel and face brickwork to reference the site’s industrial past and local geological character. Landscaping features include a communal garden bridging the two buildings at ground level, landscaped setbacks to protect visual privacy, and a small corner park intended to soften the public interface.

<img alt="4A Fern Place, Woollahra." data-entity-type="file" data-entity-uuid="f71766d6-aa14-44df-9bc5-42f91890fd4a" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Fern%20bldg%20rear.png?VersionId=uh7u1rJ6NJF5OqyRs9iNJcy6R9ssgaXU" />

Ryser said Sorelle "brings together the best of both worlds, the intimacy of village life with the amenity and luxury of modern design."

The developer said the project marks the first of three developments they will be announcing shortly, a key step in their&nbsp;evolution as a builder-developer delivering meaningful, high quality urban outcomes across Sydney.

The expectation is the Woollahra LGA will become popular for developers with the signal from the NSW Government they will deliver&nbsp;<a href="https://www.apartments.com.au/developments/sydney-nsw" target="">Sydney</a>’s first new heavy rail station in more than a decade – enabling up to 10,000 new homes by rezoning land around&nbsp;<a href="https://www.apartments.com.au/developments/woollahra-nsw-2025" target="">Woollahra</a>&nbsp;and&nbsp;<a href="https://www.apartments.com.au/developments/edgecliff-nsw-2027" target="">Edgecliff</a>&nbsp;stations.

Read more:&nbsp;<a href="https://www.apartments.com.au/news/nsw/next-stop-woollahra-train-station-delivering-up-to-10-000-new-homes-in-the-heart-of-sydney">Next stop Woollahra train station - delivering up to 10,000 new homes in the heart of Sydney&nbsp;</a>

Joel Robinson

First look: Ryser plans two apartment buildings on Woollahra, Bondi Junction border

ASX-listed developer <a href="https://www.apartments.com.au/developers/cedar-woods" target="">Cedar Woods</a> didn’t miss a beat when the opportunity arose to acquire a prime residential development site in one of Perth’s most popular suburbs. In 2019, the developer secured the former Wembley TAFE site, a 1.4-hectare parcel perfectly positioned on the western edge of <a href="https://www.apartments.com.au/developments/subiaco-wa-6008" target="">Subiaco</a>’s vibrant centre.

The first stage, <a href="https://www.apartments.com.au/new-apartments/incontro-subiaco-133-salvado-road-subiaco-wa-6008">Incontro Townhomes</a>, delivered 41 contemporary homes that embrace the suburb’s unique blend of nature and urban energy. Now, Incontro Apartments continues that story, offering a collection of new residences in a market limited with new residential stock. The rarity of a development in such a prime pocket hasn't been lost on buyers, with more than 60 per cent already sold in the early stages of construction.

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Set on the tree-lined Bishop Street, in a quiet pocket within Western Subiaco, Incontro Apartments offers convenient access to several lush parks and recreation spots.&nbsp;

Within the estate is Incontro’s Little Green, a linear park that connects the Incontro townhome precinct with the future apartment building. This peaceful stretch of landscaped parkland features shaded seating and communal spaces for residents to relax and interact close to home.&nbsp;

Less than 400 metres away is find Henderson Park, a perfect spot for morning walks, weekend picnics or casual exercise. Neighbouring Henderson Park is Mabel Talbot Park, home to Jolimont Lake and a playground, while just a little further lies Pat Goodridge Park, offering a large sports field and another playground.&nbsp;

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For something closer to home, Subiaco Common provides a peaceful green retreat right on your doorstep - ideal for reading under the trees, walking the dog or relaxing with friends.

Beyond the parks and open spaces, Incontro residents are just moments from everything that makes Subiaco such an enviable place to live.&nbsp;

Down the road is Bishop Street Café, a local favourite for a morning caffeine fix. Subiaco’s Rokeby Road and Hay Street are lined with retailers, cafés, vibrant bars and some of Perth’s most loved dining spots, from long lunches at Refuge Small Bar or Juanita’s, to weekend brunch at Community Coffee Co. or Boucla Café. Add to that a strong sense of local community, regular markets, and the energy of Subiaco Square, and it’s easy to see why Subiaco continues to be one of Perth’s most liveable and in-demand suburbs.

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Construction of Incontro Apartments is now underway by <a href="https://www.apartments.com.au/builders/emco-building">EMCO Building</a>. With completion expected in mid-2027, buyers have the chance to join a thriving Subiaco community in the not-too-distant future. &nbsp;

One-bedroom apartments are now sold out, with only a selection of two-bedroom apartments and just three three-bedroom residences remaining. Each features generous layouts, stylish finishes and private balconies to enjoy the leafy outlook that makes this Subiaco address so special. Prices start from $925,000*.

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Over 60 per cent sold as Incontro Apartments captures Subiaco’s leafy appeal

Supermarkets

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A standalone Coles supermarket, in the bayside suburb of Mentone, has sold on the tightest Victorian yield of 2019.
Located at 81 Mentone Parade, the recently refurbished property comprises a freestanding 2,854 square metre supermarket, with access to just over 150 council car spaces.
The standalone Coles supermarket sold for $15.3 million on a 3.4 per cent yield, the best vendor yield since Coles Clayton sold on a 2.57 per cent yield in March 2018.
The property was sold under a 10 year lease from January 2017, with a further 10 year option, to Coles at a current rental of $519,785 per annum net.
CBRE Director Mark Wizel, who managed the sale campaign with Justin Dowers and Joseph Du Rieu, said enquiry had been `through the roof’ with two Chinese investors - one the eventual purchaser - flying in for the auction.
Mr Wizel said the last three bidders – all Chinese – who took the bidding from $12 million to the close, were introduced through CBRE’s Asian Services Desk headed by Lewis Tong.
"This year we have seen yields hover around 5.5 per cent following an average closer to 4.5 per cent over 2018 but this result unambiguously indicates demand for this product remains very strong,’’ Mr Wizel said.
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Coles Mentone sold on tightest Victorian yield of 2019

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EXPERT OBSERVER
 
On the way home, you wander into the supermarket for a loaf of bread. But before you reach the bread aisle, you drop in your prescription at the supermarket pharmacy. Shopping done, you pick up your pills on the way out.
Across the US, UK and mainland Europe, supermarket pharmacies are becoming the norm. But in Australia, they’re banned.
The Commonwealth government is negotiating the <a href="https://www1.health.gov.au/internet/main/publishing.nsf/Content/New-7th-Community-Pharmacy-Agreement" target="_blank">seventh Community Pharmacy Agreement</a> with pharmacists, which outlines how community pharmacy is delivered over the next five years, who delivers it and where.
So could pharmacies in supermarkets be an option for Australia?
<h2>How common are they?</h2>
Overseas, pharmacies have been in supermarkets for decades. In the UK, supermarkets like <a href="https://www.asda.com/about/instore/pharmacy" target="_blank">ASDA</a>, <a href="https://assets.publishing.service.gov.uk/media/56e1a52d40f0b6037900001d/Tesco_hearing_summary.pdf" target="_blank">Tesco</a>, <a href="https://my.morrisons.com/help/information/store-services/pharmacy/" target="_blank">Morrisons</a> and <a href="https://www.sainsburys.co.uk/webapp/wcs/stores/servlet/gb/groceries/get-ideas/our-instore-services/--sainsburys-pharmacy?storeId=10151&amp;langId=44&amp;krypto=3Yh4GQ%2BNdq51nNqI8mxTmkZXe9Ggb9L33GTajzfwdGXhiQftJrJArZAib4hw%2Bs8JTxwLH2HfrQCChmYTBIAbS7BEz2U5FalmUXfV%2FK4wt6OhdFjJrMlhiZMBhuu2s45yNiOQDTkMs%2BONJUT5MWYlSGhWL5pH5YQM9gRqD0wFloM%3D&amp;ddkey=https%3Agb%2Fgroceries%2Fget-ideas%2Four-instore-services%2F--sainsburys-pharmacy" target="_blank">Sainsbury’s</a> have them. And so do <a href="https://www.propertyobserver.com.au/https://www.walmart.com/cp/pharmacy-services/1088604" target="_blank">Walmart</a>, <a href="https://www.kroger.com/topic/pharmacy" target="_blank">Kroger</a> and <a href="http://www.publix.com/pharmacy-wellness/pharmacy/pharmacy-services" target="_blank">Publix</a> in the US.
Canada’s largest supermarket Loblaw <a href="https://www.thestar.com/business/2010/05/04/loblaw_plans_drugstore_expansion" target="_blank">announced plans</a> in 2010 to expand more aggressively into the pharmacy business. It later bought pharmacy chain <a href="https://www.newswire.ca/news-releases/loblaw-companies-limited-completes-acquisition-of-shoppers-drug-mart-corporation-514006661" target="_blank">Shoppers Drug Mart</a>.
<h2>Arguments against</h2>
The Pharmacy Guild of Australia argues pharmacies in supermarkets means community pharmacies would be unable to compete, supermarkets would put shareholders’ interests ahead of patients, and consumer protection would be lost. Such critics argue supermarkets would push smaller players out of the market, limiting consumer choice and access.
The Guild also suggests it would be hypocritical for supermarkets to run pharmacies when <a href="https://www.guild.org.au/news-events/news/2013/12/19/supermarkets-and-health-care-don-t-mix" target="_blank">they rely on</a> cigarette and alcohol sales.
Overseas, there is public support for small, independently run community pharmacies over supermarket-owned ones.
For instance, in 2013 <a href="https://www.cheshire-live.co.uk/news/chester-cheshire-news/residents-rallied-behind-helsby-pharmacy-5191264" target="_blank">almost 2,000 people petitioned against</a> supermarket giant Tesco, fearing an existing pharmacy across the road would be “bulldozed” out of business.
<h2>Arguments for</h2>
The main arguments for pharmacies in supermarkets seem to be they would offer the public a <a href="https://www.retailwire.com/discussion/would-you-go-to-walmart-to-see-a-doctor/" target="_blank">cheaper and more convenient service</a>.
For instance, <a href="https://corporate.walmart.com/newsroom/2005/01/04/wal-mart-unveils-24-hour-pharmacies" target="_blank">Walmart</a> employs more than 10,000 pharmacists across 3,000 retail pharmacies throughout the US and launched a 24 hour pharmacy service over a decade ago. Then it began dispensing generic medications for as <a href="https://corporate.walmart.com/newsroom/2006/09/20/wal-mart-cuts-generic-prescription-medicines-to-4" target="_blank">little as US$4</a>.
Supermarkets also seem committed to supporting pharmacies in store, despite tough times. In 2019, Tesco, which runs 300 in-store pharmacies, <a href="https://www.chemistanddruggist.co.uk/news/tesco-pharmacy-staff-9000-job-cuts" target="_blank">reported</a> no pharmacy staff positions would be lost when 9,000 store positions became redundant.
There are also <a href="https://www.news.com.au/finance/business/retail/a-chemist-can-own-a-supermarket-but-supermarkets-cant-own-a-pharmacy/news-story/fe97c42c3d2b55bbb613559cbf194cc1" target="_blank">claims of hypocrisy</a>. Why does existing Australian legislation prevent a supermarket from owning a pharmacy, but not a pharmacy from owning a supermarket?
<h2>What might work in Australia?</h2>
If Australia follows international trends, we might consider two models:
<ul>
<li>straight-out ownership, where a supermarket owns a chain of pharmacies and employs pharmacists to run them, or</li>
<li>a strategic alliance, where a pharmacy chain, like Chemist Warehouse, has smaller versions of its stores inside a supermarket.</li>
</ul>
<a href="https://images.theconversation.com/files/292346/original/file-20190913-35596-1bt65lt.jpg?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=1000&amp;fit=clip"><img src="https://images.theconversation.com/files/292346/original/file-20190913-35596-1bt65lt.jpg?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=237&amp;fit=clip" alt=""></a> In-store pharmacies might be convenient, but is that enough to convince policy makers they’re right for Australia? <a class="source" href="https://www.shutterstock.com/image-photo/pharmacy-pickup-area-237587" target="_blank">from www.shutterstock.com</a>
Examples of straight-out ownership include Sainsbury’s in the UK and Walmart in the US. This arrangement allows them to sell these assets at a later stage.
This is what happened with Sainsbury’s, which <a href="https://www.theguardian.com/business/2015/jul/29/sainsburys-sells-pharmacy-business-celesio-125m" target="_blank">sold its 281-store pharmacy business</a> to Celesio, the owner of the Lloyds Pharmacy chain, for £125m in 2015. Sainsbury’s indicated the move would enable further growth, while extending their pharmacy services to customers.
In an example of a strategic alliance, UK pharmacy chain Boots and supermarket Waitrose <a href="https://www.propertyobserver.com.au/https://www.campaignlive.co.uk/article/experts-weigh-marketing-benefits-waitrose-boot-tie-up/941645?src_site=brandrepublic" target="_blank">agreed in 2009 to stock each other’s products</a>.
<a href="https://www.boots.com/stores/6313-lichfield-waitrse-ws13-6rx" target="_blank">Boots supplied</a> health care, pharmaceutical products and services, like flu jabs and medical check-ups to Waitrose, and Waitrose supplied food to Boots. Pharmacies in 13 Waitrose stores were also re-branded “Boots Pharmacy”.
 
However, existing legislation prevents either option in Australia unless changes are made in the new Community Pharmacy Agreement. This is because <a href="https://www.guild.org.au/news-events/news/forefront/v08n16/ownership-a-foundation-stone" target="_blank">current pharmacy ownership rules</a> prevent supermarkets or anyone (other than a pharmacist) from owning a pharmacy.
If ownership rules were lifted, but <a href="https://www1.health.gov.au/internet/main/publishing.nsf/Content/DDB409EBB18FCE8FCA257BF0001D3C0C/%24File/Pharmacy%20Location%20Rules%20Applicants%20Handbook%20December%202018.pdf" target="_blank">location</a> rules remained, supermarkets would be prevented from operating pharmacies opening within 1.5km of one another.
This means if Coles had an in-store pharmacy, then Woolworths across the road, could not operate one, and vice versa. And if there was already a pharmacy in the neighbourhood, neither could open one, even if ownership rules were relaxed.
<h2>Are we set for regulation or liberalisation?</h2>
The <a href="https://www.guild.org.au/" target="_blank">Pharmacy Guild of Australia</a>, which represents owners of community pharmacies, and the <a href="https://www.psa.org.au/" target="_blank">Pharmaceutical Society of Australia</a>, which represents individual pharmacists, both support current ownership rules — strong regulation over ownership and location.
However, pharmacy giant Chemist Warehouse and Ramsay Health Care (which owns pharmacies as well as private hospitals), <a href="http://competitionpolicyreview.gov.au/files/2015/03/Competition-policy-review-report_online.pdf" target="_blank">say</a> ownership rules are redundant and ineffective. And they’re not alone.
Critics of the current Community Pharmacy Agreement <a href="https://grattan.edu.au/wp-content/uploads/2018/05/208-2016-09-23-grattan-institute-submission.pdf" target="_blank">argue</a> over-regulation of pharmacies, particularly surrounding ownership and location, limits competition and growth.
And in 2015 the <a href="http://competitionpolicyreview.gov.au/final-report/" target="_blank">Harper Report</a> into competition policy recommended:
[…] pharmacy ownership and location rules should be removed in the long-term interests of consumers. They should be replaced with regulations to ensure access to medicines and quality of advice regarding their use that do not unduly restrict competition.
European countries seem to be moving towards deregulation. In 2017 Italy <a href="https://www.hlregulation.com/2017/08/02/italy-opens-the-door-to-corporate-ownership-of-pharmacies-a-revolution-for-the-italian-pharma-distribution/" target="_blank">passed legislation</a> to allow corporate entities to own a pharmacy business, and also increased the number of pharmacies a proprietor may own.
<a href="https://images.theconversation.com/files/292339/original/file-20190913-190044-1tczc4s.jpg?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=1000&amp;fit=clip"><img src="https://images.theconversation.com/files/292339/original/file-20190913-190044-1tczc4s.jpg?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=754&amp;fit=clip" alt=""></a> In the US, in-store pharmacies in supermarkets are common, convenient and can offer cheaper products. But current Australian pharmacy ownership rules ban them. <a class="source" href="https://www.shutterstock.com/image-photo/shopping-basket-pills-concept-buying-drugs-1289871286?src=-1-2" target="_blank">from www.shutterstock.com</a>
So what are the impacts of deregulation? If we look at <a href="https://www.sciencedirect.com/science/article/abs/pii/S0168851009002875" target="_blank">evidence</a> from Europe, when the UK relaxed ownership and location rules, pharmacies operated more efficiently. Pharmacies also had more freedom to set prices for over-the-counter products and offered a wider range of services.
Yet, the same research also found where there was stronger regulation, such as in Spain, consumer access to pharmacy improved, as new pharmacies were opened based on geographic, demographic or needs-based criteria. Simply, if there was already one pharmacy servicing a neighbourhood, they didn’t need another.
<h2>Is Australia likely to see supermarket pharmacies?</h2>
Whether Australia is likely to see supermarket pharmacies any time soon is open to debate.
In a speech to the Pharmacy Guild’s national conference in 2019, federal health minister Greg Hunt <a href="https://www.guild.org.au/news-events/news/2019/minister-hunt-delivers-support-for-community-pharmacy" target="_blank">said</a> there would be no change to the ban on locating pharmacies within supermarkets.
However, other powerful groups are calling for change. These include the <a href="https://ama.com.au/media/new-working-group-look-pharmacy-agreement" target="_blank">Australian Medical Association</a>, which wants the regulations changed to allow broader ownership of pharmacy businesses.
If supermarkets were to guarantee <a href="https://www1.health.gov.au/internet/main/publishing.nsf/Content/New-7th-Community-Pharmacy-Agreement" target="_blank">sufficient controls</a> — such as to ensure the safe use of medicines, staff were properly trained and there were safeguards to ensure equitable access for elderly patients, Aboriginal and Torres Strait Islander people, particularly people living in rural and remote areas — it would be hard to argue for existing rules about pharmacy ownership and location.<img src="https://counter.theconversation.com/content/122640/count.gif?distributor=republish-lightbox-basic" alt="The Conversation" width="1" height="1" style="border: none !important; box-shadow: none !important; margin: 0 !important; max-height: 1px !important; max-width: 1px !important; min-height: 1px !important; min-width: 1px !important; opacity: 0 !important; outline: none !important; padding: 0 !important; text-shadow: none !important;">
<a href="https://theconversation.com/profiles/gary-mortimer-1322" target="_blank">Gary Mortimer</a>, Professor of Marketing and Consumer Behaviour, <a href="http://theconversation.com/institutions/queensland-university-of-technology-847" target="_blank">Queensland University of Technology</a> and <a href="https://theconversation.com/profiles/louise-grimmer-212082" target="_blank">Louise Grimmer</a>, Lecturer in Retail Marketing, Tasmanian School of Business and Economics, <a href="http://theconversation.com/institutions/university-of-tasmania-888" target="_blank">University of Tasmania</a>
This article is republished from <a href="http://theconversation.com" target="_blank">The Conversation</a> under a Creative Commons license. Read the <a href="https://theconversation.com/a-loaf-of-bread-and-a-packet-of-pills-how-supermarket-pharmacies-could-change-the-way-we-shop-122640" target="_blank">original article</a>.
Main photo: www.shutterstock.com
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j.ballantyne1990-6AQqhLzZaK

A loaf of bread and a packet of pills: how supermarket pharmacies could change the way we shop

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Kaufland, the German supermarket chain, is applying to open a 'Hypermarket', one of its first Australian stores, in Toowoomba.
The Toowoomba Chronicle reported that the company submitted a DA to the Toowoomba Regional Council last Friday.
The proposed site for the Hypermarket, which is just a supermarket by another name, is 353-359 Anzac Avenue.
It will be located on the corner of Anzac Avenue and Carrel Drive at Harristown next to Bunnings Warehouse.
Kaufland is a subsidiary of the Schwarz Group, the world's fourth largest retailer and plans to open its first Australian store in 2021, with around a 12 locations planned around the country.
<div class="entry-content">
It has previously secured store locations in South Australia and Victoria.
In Melbourne local businesses protested the development applications filed by the company.
The application is described as a “shopping centre hotel and food and drink outlet”.
It already has more than 1,200 locations in Europe.
Kaufland is known as a key rival for Aldi overseas, driving speculation its launch in Australia will be bad news for the German chain, which controls just over 10% of the local grocery market.
Initial estimates of Kaufland’s likely impact on Australia’s $103 billion supermarket industry suggest the retailer could amass $480 million in local revenue, according to Morgan Stanley analysts<a href="https://www.smartcompany.com.au/industries/retail/make-fortune-dick-smith-warns-kaufland-giant-injects-another-60-million-expansion/" target="_blank" rel="noopener"> </a>
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German supermarket chain Kaufland set to break into Toowoomba

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The Milson Point's QE Foodstores premises have been sold for $6 million.
QE has other stores in Balmain, Camperdown, Darlinghurst, Newtown, Randwick, Waterloo and Waverley.
The shopfront at <a href="http://commercialpropertysearch.savills.com.au/0bbda22c-73bc-e811-80e6-005056816353/Sale/Milsons-Point/88-Alfred-Street" target="_blank">88 Alfred Street</a> was listed with $5.5 million hopes in November, through Savills agents David Hickey, Tom Tuxworth and Nick Tuxworth.
They expected interest from local, interstate and offshore investors.
<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/2019/4/11/QE2.jpg" alt="">
The property has a new 10 year lease, with two five-year options.
On its listing Hickey said the lease and strong annual increases will attract buyers looking for secure, super-prime investments in the sub $10 million category. 
“Throughout 2018, we have seen a weight of capital chasing retail properties in prime locations, particularly in highly populated and affluent inner-urban and suburban areas," Hickey said.
“Investors are certainly looking for quality over quantity in the current market, and 88 Alfred Street fits that category.”  
“QE Foodstores took a strategic view on the local Milsons Point, Kirribilli, McMahons Point and Blues Point precinct when they noticed the community had been starved of a quality supermarket for a very long period of time,” Hickey said.
“The business decided to venture to Sydney’s North Shore and open its ninth grocery store to cater to this pent-up demand for fresh, quality and artisan produce.
<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/2019/4/11/QE3.jpg" alt="">
“At 88 Alfred Street, the store benefits from being situated in Sydney’s second most-liveable suburb, only a 10-minute walk from the Sydney CBD and North Sydney.” 
Hickey said QE Foodstores appealed directly to a growing number of affluent Baby Boomer and Millennial shoppers, “who shop more frequently with smaller basket sizes”. 
“These shoppers demand personalisation, special services and quality products, which is what QE Foodstores has strived to deliver since opening its first store 16 years ago,” he said.
“The owners’ goal is to keep growing and provide a great range of products and services to many more Sydney neighbourhoods.
“They are constantly on the lookout for new sites in the inner city and east, and they’re now very seriously considering additional sites on the Lower North Shore.”
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jrobinson-rf4aSBido9

Boutique grocer QE Foodstores premises sold by Savills in Milsons Point

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A recently opened boutique grocer in Sydney’s Milsons Point has been listed with $5.5 million hopes.
The property at 88 Alfred Street is run by QE Foodstores and is the group’s ninth offering, with other stores in Balmain, Camperdown, Darlinghurst, Newtown, Randwick, Waterloo and Waverley.
It is set to go under the hammer in early November.
Interest is expected from local, interstate and offshore investors, said Savills Australia’s David Hickey, Tom Tuxworth and Nick Tuxworth.
<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/2018/10/10/88%20Andrew%20Street%20Milsons%20Point%20-%20internal%203.jpg" alt="">
“The new 10-year lease with two five-year options to renew and strong annual increases will attract buyers from local, national and international markets looking for secure, super-prime investments in the sub-$10 million category,” Hickey said.
“Throughout 2018, we have seen a weight of capital chasing retail properties in prime locations, particularly in highly populated and affluent inner-urban and suburban areas.
“Investors are certainly looking for quality over quantity in the current market, and 88 Alfred Street fits that category.” 
<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/2018/10/10/88%20Andrew%20Street%20Milsons%20Point%20-%20internal%202.jpg" alt="">
He said QE Foodstores owners had recognised a gap in the Lower North Shore retail market for a boutique grocery store.
“QE Foodstores took a strategic view on the local Milsons Point, Kirribilli, McMahons Point and Blues Point precinct when they noticed the community had been starved of a quality supermarket for a very long period of time,” Mr Hickey said.
“The business decided to venture to Sydney’s North Shore and open its ninth grocery store to cater to this pent-up demand for fresh, quality and artisan produce.
“At 88 Alfred Street, the store benefits from being situated in Sydney’s second most-liveable suburb, only a 10-minute walk from the Sydney CBD and North Sydney.
“These shoppers demand personalisation, special services and quality products, which is what QE Foodstores has strived to deliver since opening its first store 16 years ago,” he said.
“The owners’ goal is to keep growing and provide a great range of products and services to many more Sydney neighbourhoods.
“They are constantly on the lookout for new sites in the inner city and east, and they’re now very seriously considering additional sites on the Lower North Shore.”
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Boutique Milson's Point supermarket set for auction 

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Sydney Olympic Park Authority is seeking to lease 1,500sqm retail floor space which is suitable for a supermarket.
Situated within the new Pavilions by Mirvac development at 2 Figtree Drive, the site is currently under development.
It will deliver a total of 705 apartments across four residential buildings with frontage onto Australia Avenue.
Sydney Olympic Park currently has a community of over 10 million visitors, 19,000 workers and 3,000 residents, which is set to increase as an additional 2,000 apartments are expected to be delivered over the next five years.
<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/2018/7/5/Olympic%20park2.jpg" alt="">
Future growth as outlined in the Sydney Olympic Park Master Plan 2030 will see a daily community of 23,500 residents and 34,000 workers.
The open tender seeks a tenant to occupy the premises for a minimum fifteen years.
The tender closes on 31 July 2018.
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Sydney Olympic Park Authority looking to lease space to a supermarket

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GUEST OBSERVATION
If you think your local supermarket is shrinking, you might be right.
Coles has announced that it will open smaller-sized supermarkets in more locations. This follows the lead taken by other large retailers such as Woolworths, Harris Scarfe and Target.
Australia’s growing population may mean more customers, but it is also putting pressure on available real estate for retailers. As population density increases, mostly in urbanised areas, many retailers are shrinking to grow.
The blame for recent store closures has fallen mainly on Amazon and other global players entering the Australian market.
However, high rents, a lack of prime real estate, and rising inventory costs and wages have also contributed to the need to downsize.
Shrinking to grow
Retailers have responded to increased costs and competition in two ways: either by “rightsizing” - closing underperforming and unprofitable locations as Myer has done, or by “downsizing” - shrinking their store footprints.
Smaller store formats allow retailers to maintain a bricks-and-mortar presence at a more affordable cost.
Several established firms, as well as retail start-ups, are taking the small store trend a step further by opening “micro” stores.
Some retailers are also cleverly using smaller shopfronts as “click and collect” points for their online customers.
Smaller stores equal smaller rents. Retail rents are charged per square metre, meaning the bigger the store, the higher the rent.
To put it in perspective, while global retailers seek retail sites from anywhere between 7,500 square metres (Lululemon Athletica) to 40,000 square metres (Uniqlo), smaller stores typically measure around 600 square metres which is around a quarter of the size of the average supermarket.
Prime location retail rents continue to increase due to lack of available space and strong demand from overseas retailers such as Zara and H&amp;M, who are happy to pay up to A$20,000 per square metre per year to shore up key inner city locations.
Industry reports indicate that the Sydney CBD remains the most expensive for retailers, with an average of A$13,335 per square metre per year. Melbourne’s CBD is half the cost at A$6,670, Brisbane is A$4,704, Adelaide is A$4,000-5,000 and Perth is nearly A$4,000 per square metre per year.
Annual average rents in trendy inner-city suburbs, like Surry Hills and Wooloomooloo in Sydney, come in at almost A$14,000 per square metre.
So if you have a very small 80 square metre convenience store in a prime Sydney CBD location, your annual rent bill will be a little over A$1 million.
Going smaller can open up new, and often better, locations. As some real estate analysts noted last year, “with the current environment characterised by a lack of premium retail investment offerings” retailers are increasingly finding it difficult to snap up prime locations.
Going smaller therefore opens up more opportunities) for retailers to capitalise on prime locations, particularly in highly populated and affluent inner-urban and suburburban areas.
But there are other benefits too, such as less inventory, which also means less discounting. Smaller stores also require fewer staff, and less cleaning and maintenance.
What are the benefits for consumers?
Research shows that customers are increasingly suffering from choice overload, also known as the “tyranny of choice”.
This is particularly so for online shoppers and for those browsing the aisles in superstores, department stores and large chain stores. A limited product offering, in a much smaller space, helps consumers make decisions more easily, and appeals to those shoppers who are primarily looking for “convenience”.
Small stores appeal directly to a growing number of affluent baby boomers and millennials who shop more frequently with smaller basket sizes. These shoppers demand personalisation, special services and quality products.
Because small retailers have less inventory, they are able to turn stock over, replenish and refresh products at a much faster pace than their larger rivals. They can promise new items arriving in store at shorter intervals. The lure of “newness” is a very attractive prospect for shoppers.
Are smaller stores here to stay?
In 2018 and beyond, retailing will continue to evolve. Retailers have always had to adapt to meet changing consumer demands, advances in technology and the like.
A sure sign that physical retail is still alive and well is evident in the growing number of online retailers and established brands that are opening physical stores to complement their online offerings.
<img src="https://counter.theconversation.com/content/98246/count.gif?distributor=republish-lightbox-basic" alt="The Conversation" width="1" height="1">Just as pop-up retailing has cemented itself in the retail landscape, smaller stores are also likely to become a significant long-term strategic proposition for the retail industry, where it is now “big to be small”.
Louise Grimmer, Lecturer in Marketing, Tasmanian School of Business and Economics, University of Tasmania
Gary Mortimer, Associate Professor in Marketing and International Business, Queensland University of Technology
This article was originally published on <a href="http://theconversation.com" target="_blank">The Conversation</a>. Read the <a href="https://theconversation.com/honey-i-shrunk-the-store-why-your-local-supermarket-is-getting-smaller-98246" target="_blank">original article</a>.
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Why your local supermarket is getting smaller

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Clayton Coles in Melbourne's south east has sold for $17,115,000, record a new record yield of 2.57 percent.
The previous record was held by Woolworths Middle Brighton which sold for $32 million on a 3.8% yield, and more recently Dan Murphys, Alphington which sold for $22.5 million on a yield of 3.2% via CBRE’s Premium Property Portfolio Auction Platform.
CBRE agents Mark Wizel, Justin Dowers, Kevin Tong and Dylan Kilner negotiated the sale on behalf of the deceased estate, which had been owned by the same family for over 20 years.
It was a local private investor who beat out a host of high profile investors, Asian investors and developers.
Coles Clayton was the first Victorian supermarket offered to the market in 2018.
The property on the corner of Centre Road and Cooke Street has a freestanding, 2850 sqm supermarket which has been trading since 1998.
It was sold subject to an estimated net annual income of $440,552.
CBRE's Mark Wizel said whilst the vendors had every intention of taking the property to auction, the offer was compelling enough for the estate trustee to sell prior.
“Although there was over 15 years of tenure to Coles, the buyer took a longer term view on the opportunity of owning a prominent Commercial 1 Zoned allotment within Metropolitan Melbourne,’’ Mr Wizel said.
 
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Coles Clayton sells for new supermarket record yield

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The supermarket wars are set to set up as Kaufland has secured its first site in Melbourne.
Kaufland, a discount German retailer, has purchased an empty Bunnings site in Dandenong for $16.4 million.
Kaufland is part of the Schwarz Group, the fourth-biggest retailer in the world.
Its “hypermarket” stores are typically four to five times bigger than a Coles or Woolworths.
The Gladstone Road, Dandenong property in Melbourne’s south-east includes 12,000 square metres of retail space on 3.3 hectares of land.
The Herald Sun said Spanish-born Jon Ruiz del Portal was appointed to the Kaufland Australia board this week.
It spent $25 million to buy a major site in the fringe of the Adelaide central business district last month.
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Kaufland hits Melbourne as supermarket wars step up

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A neighbourhood centre anchored by Woolworths and Aldi in Brisbane’s northern suburb of Warner has been listed for sale.
MarketPlace Warner is a ‘best in class’ shopping centre, with the Woolworths supermarket believed to be one of the best performing Woolworths in Queensland by MAT, with turnover well above Urbis benchmarks for a double supermarket anchored shopping centre.
It is being marketed by JLL through an expressions of interest campaign closing July 27. 
The listing agents are JLL’s Jacob Swan and Sam Hatcher.
Swan said neighbourhood shopping centres remained tightly held with only $347.6 million transacted this year, compared to a total of $1.6 billion in 2016. 
“Interestingly, of the 15 transactions that have occurred this year, nine have been in Queensland, highlighting investor confidence within Queensland’s retail market,” he said.  
He said private investors, syndicators and funds management groups were still actively seeking to invest in neighbourhood shopping centres, with competition for quality centres remaining strong.
“The defensive nature of these non-discretionary-based assets continues to appeal to the market.”
“The low-volatility of the spending profile within prime neighbourhood centres presents an ideal vehicle for capital preservation, while also providing a stable and attractive running yield.”
<a href="https://www.propertyobserver.com.au/images/2017/06/28/Woolies1.png" target="_blank">Click to enlarge</a>
<img src="https://www.urban.com.au/images/2017/06/28/Woolies1.png" alt="">
The shopping centre was redeveloped in 2014 to include an upgraded Woolworths supermarket spread on 4,485 sqm, a new Aldi supermarket and 37 other stores.
The site area is about 6.5 ha. 
The offering also includes a freestanding development pad site of 2,456 sqm, freestanding Goodstart Early Learning Child care and an adjoining balance land component of 4,305 sqm.  The centre provides a total combined GLA of 11,477 sqm.
JLL’s Sam Hatcher said there was significant growth to be had locally.
“We see growth in the retail spend and rental profile being realised through a large population of almost 70,000 in the Main Trade Area, projected to increase at 1.7% to 87,280 persons by 2036. In addition there are a total of 712 new dwellings under construction in the catchment/region, due to be completed in 2020.”
Total trade area retail expenditure is estimated at $905.5 million and is projected to grow to $2.3 billion by 2036, an average growth rate of 4.6%, he added.
 
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