Not all apartment amenities are immediately visible.

Swimming pools, gyms, rooftop terraces and residents' lounges have long featured on buyers' wishlists, but as the way Australians live has changed, so too have the features that make apartment living more convenient.

Increasingly, buyers are placing value on the practical aspects of day-to-day life. Fast internet, EV charging, secure bike storage, flexible workspaces and parcel management are becoming just as relevant as lifestyle amenities, reflecting changing habits and expectations.

Online shopping has been one of the biggest drivers of that shift.

Australians spent a record $82.6 billion shopping online in 2025, with almost one in every four retail dollars now spent digitally, making parcel deliveries a routine part of everyday life rather than an occasional convenience.

For apartment residents, however, receiving those deliveries isn't always straightforward.

Without someone home to accept a parcel, deliveries can be redirected to a nearby Post Office, left in building foyers or common areas, or require building management to temporarily store packages. As apartment living continues to grow across Australia's cities, parcel management has become an increasingly important consideration for both residents and developers.

Australia Post's Parcel Locker network is one response to that shift.

<iframe allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" allowfullscreen="" frameborder="0" height="315" referrerpolicy="strict-origin-when-cross-origin" src="https://www.youtube.com/embed/KPZ9j5FRdsQ?si=Qztc1dNP3ZvEIUhb" title="YouTube video player" width="560"></iframe>

Rather than relying on home delivery, eligible parcels can be directed to a nominated Parcel Locker, where they're securely stored until collected. Once a parcel arrives, residents receive a notification through the AusPost app or SMS and can retrieve it using a one-time code or QR code at a time that suits them.

The network has expanded to more than 1,500 locations nationwide, with Parcel Lockers positioned at Post Offices, shopping centres, supermarkets, transport hubs and, increasingly, within or alongside residential developments.

That growing presence reflects a broader change in how apartment buildings are being planned.

Developers are increasingly considering the operational side of apartment living alongside traditional lifestyle amenities. Just as secure mailrooms, bicycle storage and EV charging have become more common inclusions, parcel management is emerging as another feature that supports everyday convenience.

It also helps preserve the arrival experience within a building. Carefully designed lobbies and communal spaces can quickly become cluttered when deliveries accumulate, while secure parcel solutions reduce the likelihood of missed deliveries or parcels being left unattended.

For buyers comparing apartments, these everyday details are becoming part of the decision-making process.

Location, floorplans and finishes remain fundamental, but the features that simplify daily life are carrying greater weight than they once did. As online shopping continues to shape consumer behaviour, secure parcel delivery is increasingly becoming another amenity worth looking for.

Joel Robinson

Parcel delivery is joining the apartment amenity checklist

Inca Property Group has lodged a State Significant Development Application (SSDA) for Dawn, a 53-apartment oceanfront development overlooking Mona Vale Beach.

The proposal, at 35-39 Darley Street East, would replace an existing 18-apartment strata building with a new owner-occupier-focused development comprising 53 two and three-bedroom apartments, including nine affordable built-to-rent residences delivered under the State's infill affordable housing scheme.

Positioned on a 2,679 sqm elevated site around 280 metres from Mona Vale Beach, the development has been designed to maximise panoramic ocean views while responding to the site's sloping topography.

<a href="https://www.apartments.com.au/developers/inca-property-group">Inca Property Group</a> Managing Director Josh Thompson said the State Significant pathway provided greater certainty for projects of this scale.

"This State Significant pathway gives the team real certainty to progress <a href="https://www.apartments.com.au/new-apartments/dawn-35-39-darley-street-east-mona-vale-nsw-2103">Dawn</a> through to completion," Thompson said.

"It allows us to acquire a one-off site, design it carefully and deliver the right offering for the suburb, assessed by the NSW Government's planning department."

The project is one of the first developments in the area to be assessed under the NSW Government's Low and Mid-Rise Housing policy, with the site sitting on the edge of the policy's designated inner area.

The proposal includes three basement levels providing 124 car spaces, alongside a range of resident amenities including a swimming pool, gym, sauna, wellness facilities and private plunge pools for selected ground-floor and penthouse apartments.

<img alt="Dawn" data-entity-type="file" data-entity-uuid="fc1a1daf-0ce4-4f12-9076-b1fa553c7a91" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-07-21%20at%208.42.11%E2%80%AFAM.png?VersionId=4GZ9h.gpNkTljbxyAET8Jfhv51XUamDm" />

Thompson said Dawn had been designed specifically for owner-occupiers and downsizers, a buyer profile that has driven demand across Inca's recent Upper North Shore developments.

"The majority of buyers in our recent North Shore projects have been downsizers, and we are learning exactly what this market is looking for. Beyond the location itself, we have included resort-style amenities to deliver a genuine lifestyle offering," Thompson said.

Located within walking distance of Mona Vale Beach, the town centre, Mona Vale Golf Club and the Royal Motor Yacht Club, Dawn represents Inca's first Northern Beaches project following the sell-out of Tara on Park in Waitara and Ellis Residences, currently under construction in St Ives.

Construction will be undertaken by Inca's in-house construction arm, GOP Constructions.

Dawn is the latest major apartment proposal for Mona Vale, with the suburb emerging as one of the key beneficiaries of the NSW Government's new Low and Mid-Rise Housing policy.

New developer One Living, led by industry veteran Joseph Scuderi, recently secured a site on Mona Vale Road, on the border of Mona Vale and Pymble, where it is planning around 140 apartments.

IPM is also planning its third project in Mona Vale, significantly increasing the scale of its previous developments with an 82-apartment proposal at <a href="https://www.apartments.com.au/new-apartments/159-167-darley-street-west-mona-vale-nsw-2103">159-167 Darley Street West</a>, opposite Bayview Golf Course and less than 800 metres from Mona Vale town centre.

Read more:&nbsp;<a href="https://www.apartments.com.au/news/nsw/one-living-enters-sydneys-new-apartment-market-with-northern-beaches-site-acquisition">One Living enters Sydney's new apartment market with Northern Beaches site acquisition</a>

Read more:&nbsp;<a href="https://www.apartments.com.au/news/nsw/first-look-ipm-plans-third-mona-vale-project">First look: IPM plans third Mona Vale project</a>

First look: Inca eyes Mona Vale with State Significant DA for Dawn apartments

Seasoned Victorian apartment developer <a href="https://www.apartments.com.au/developers/central-equity">Central Equity</a> has logged more than $400 million in sales in its luxury apartment project Palmera Residences at Northcliffe on the Gold Coast.&nbsp;

Central Equity Director Karl Kutner said the sales result reflected a combination of location, product quality and delivery certainty with the project already under construction by building powerhouse Multiplex.&nbsp;

"Surpassing $400 million in sales since launch is a significant milestone and an outstanding endorsement of <a href="https://www.apartments.com.au/new-apartments/palmera-residences-gold-coast-18-garfield-terrace-surfers-paradise-qld-4217">Palmera Residences</a>,” he said.&nbsp;

"We believe one of the key reasons for this strong result is the confidence purchasers have in knowing the project is under construction with Multiplex. Buyers are increasingly looking for certainty. They want to know that the project they commit to today will be delivered by an experienced team with a proven track record."&nbsp;

[smartcode_project:default project_id=108274 project_image_fid=365782]

Kutner said it was clear there was still high demand for luxury projects that offered certainty of delivery.&nbsp;

“We are in a market where many residential developments have faced delays due to rising construction costs, labour shortages and financing challenges,” said Kutner.&nbsp;

"But having construction underway has provided our buyers with resounding confidence backed by more than 40 years of development delivery by Central Equity combined with construction by one of Australia's most respected construction companies."&nbsp;

[smartcode_project:default project_id=108274 project_image_fid=365785]

Central Equity is one of Australia's most experienced privately-owned property developers. Over more than four decades, the company has delivered in excess of 85 residential developments including 10,000 apartments and many thousands of stand alone homes.&nbsp;

Located on Garfield Terrace at Northcliffe, between Surfers Paradise and Broadbeach, Palmera Residences occupies one of the Gold Coast's most sought after beachside locations. The development has been designed to appeal to owner occupiers seeking premium residences that combine generous living spaces and resort style amenities.&nbsp;

Palmera Residences will feature an exceptional collection of resort style amenities, including two swimming pools: a generously sized family pool with safe shallow zones for relaxed recreation, and a 20 metre lap pool positioned to maximise all day sunlight.&nbsp;

Residents will also enjoy exclusive access to wellness and recreational facilities including a magnesium pool, sauna, yoga studio, expansive fitted gymnasium, resident lounge, outdoor BBQ’s&nbsp;and indoor and outdoor dining areas, together with a dedicated concierge and luxurious hotel inspired entrance foyer.&nbsp;

[smartcode_project:default project_id=108274 project_image_fid=365767]

A unique feature at Palmera Residences has been designed to enhance the Gold Coast lifestyle which includes both indoor and outdoor gymnasium facilities, together with thoughtfully designed indoor and outdoor dining and entertaining areas. A corner café has also been incorporated to provide residents with a destination for their everyday needs.&nbsp;

Kutner said buyer demand had been broad based with purchasers attracted from interstate as well as throughout South East Queensland.&nbsp;

"We're seeing strong interest from owner occupiers, lifestyle buyers and people relocating to the Gold Coast. Many purchasers have been searching for a premium beachside residence where quality, design and delivery are equally important."&nbsp;

[smartcode_project:default project_id=108274 project_image_fid=365771]

Kutner said the sales milestone was an important achievement, but the focus remained firmly on delivering an exceptional development.&nbsp;

"While reaching $400 million in sales is an important milestone, our priority remains delivering a project that exceeds purchaser expectations,” he said.&nbsp;

"Palmera Residences has been designed to become one of the Gold Coast's landmark residential addresses, and we look forward to welcoming our purchasers to their new homes."&nbsp;

There are a limited number of residences remaining in selected configurations with pricing from $2,950,000 to $8,950,000. Palmera Residences is also crowned by expansive penthouses with wrap around views.

[smartcode_project_cta:default project_id=108274]

Construction certainty and strong buyer demand drive major sales result for luxury Gold Coast development

Palmera Residences fly out the door as sales pass $400 million

National property developer <a href="https://www.apartments.com.au/developers/goldfields-group">Goldfields</a> has appointed BINAH as its construction partner for Quartet, its new Brisbane apartment development in the undersupplied suburb of <a href="https://www.apartments.com.au/developments/milton-qld-4064">Milton</a>.

Located just two kilometres from the Brisbane CBD and moments from key 2032 Olympic precincts, <a href="https://www.apartments.com.au/new-apartments/quartet-milton-33-manning-street-milton-qld-4064">Quartet</a> will deliver 131 one, two, three, and four-bedroom apartments priced from $1 million to $4.2 million, combining elevated design with a wellness-focused lifestyle offering.&nbsp;

[smartcode_project:default project_id=108736 project_image_fid=368000]

Goldfields’ Chief Executive Officer, Lachlan Thompson, said the appointment of <a href="https://www.apartments.com.au/builders/binah-constructions">BINAH</a> marked an important milestone for the project.&nbsp;

“Bringing BINAH on board as our construction partner will allow us to bring our vision for Quartet forward with a team that has a proven track record of delivering high-quality residential projects,” Thompson said.&nbsp;

“We’ve taken a considered approach to progressing the site because we wanted to deliver the whole package. Buyers ultimately back great developers, great projects and great builders, and with Quartet, we’ve made sure all three line up.

“People want certainty, they want to know the project will be built, that the homes will be delivered as promised, and that the developer stands behind the quality of what they create. That’s something Goldfields has built its reputation on over many years.”&nbsp;

[smartcode_project:default project_id=108736 project_image_fid=367993]

BINAH’s Managing Director, Khalil Hafza, said the company was proud to be partnering with Goldfields to deliver Quartet.&nbsp;

“Quartet is an exciting project to bring to life, particularly given the level of detail in the residences and the extensive rooftop amenity planned for the building,” Mr Hafza said.&nbsp;

“Our focus is on delivering a high-quality build that brings that design vision to life and creates homes residents will enjoy for many years.”&nbsp;

[smartcode_project:default project_id=108736 project_image_fid=367999]

The facilities at Quartet have been feared towards the roof, with a&nbsp;25 metre lap pool, spa, sauna and cold plunge, and a communal barbecue area and alfresco.

Town planning was designed by <a href="https://www.apartments.com.au/architects/rothelowman">Rothelowman</a> and brought to life by Melbourne-based architecture firm Cera Stribley.

<a href="https://www.apartments.com.au/interior-designers/cera-stribley">Cera Stribley</a> Co-Founder and Managing Principal, Dom Cerantonio, said the project responds to both its riverside setting and Brisbane’s evolving urban character.&nbsp;

“Quartet has been designed to sit comfortably within its riverside context, offering a refined take on urban living through well-planned, generously proportioned residences that will stand the test of time,” Mr Cerantonio said.&nbsp;

“An emphasis on natural light, natural textures and carefully selected finishes from timber and marble to premium appliances, creates calm, considered interiors designed for comfort and long-term liveability.”&nbsp;

Construction of Quartet will commence in July 2026, with completion anticipated in Q4 2028.

[smartcode_project_cta:default project_id=108736]

Construction to commence on 131-residence tower designed around wellness-focused living

Goldfields appoints BINAH for Quartet apartments in Milton

The first partnership between national developer <a href="https://www.apartments.com.au/developers/fortis">Fortis</a> and Adelaide-based developer <a href="https://www.apartments.com.au/developers/otello">Otello</a> has made a strong start, with the pair securing $21 million in unconditional sales at <a href="https://www.apartments.com.au/new-apartments/one-four-four-hutt-adelaide-144-hutt-street-adelaide-sa-5000">One Four Four Hutt</a>&nbsp;on the edge of the Adelaide CBD.

Over a third of apartments have been snapped up in the boutique 44-apartment project on the corner of Hutt Stret and Wakefield Road. Local downsizers and owner-occupiers wanting to remain in Adelaide's tightly-held southeast quarter have been the most prominent purchasers.

The DKO-designed, mixed-use development is one of the few new apartment projects in the precinct, an area where new housing supply has remained limited despite continued demand from buyers wanting to stay close to the CBD, Victoria Park and Adelaide's established east-end amenities.

[smartcode_project:default project_id=151233 project_image_fid=375378]

Fortis Head of Development SA Arthur Dendrinos said the early sales reflected both the strength of the local owner-occupier market and confidence in the Hutt Street location.

"The level of early commitment reflects the confidence local buyers have in the Hutt Street precinct," Dendrinos said.

"Many purchasers are long-term east-end residents who love the area and want to stay connected to the neighbourhood. They recognise the value of a well-designed, well-located development.

"Our partnership with Otello has been central to this success, and the number of unconditional sales at this stage only strengthens our confidence in the South Australian market."

[smartcode_project:default project_id=151233 project_image_fid=375379]

Otello Director Daniel Harris said the sales result also highlighted the lack of new apartment opportunities within the Hutt Street precinct.

"One Four Four Hutt has clearly resonated with buyers, with strong early sales reflecting both the appeal of the Hutt Street corridor and the lifestyle on offer," Harris said.

"The activated ground-floor retail has also been a key drawcard, with purchasers responding to the vision of a more vibrant and connected streetscape, not just the residences themselves."

One Four Four Hutt will deliver 44 one, two and three-bedroom apartments, alongside a collection of penthouses, above a ground-floor retail offering designed to further activate the Hutt Street precinct.

Construction is scheduled to commence in the third quarter of this year, with completion anticipated in 2028.

[smartcode_project_cta:default project_id=151233]

Fortis Head of Development SA Arthur Dendrinos said the early sales reflected both the strength of the local owner-occupier market and confidence in the Hutt Street location.

Fortis makes Adelaide debut with Otello as One Four Four Hutt records strong early sales

Sydney Cbd

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NSW Land Registry Services has committed to lease one and a half floors at 175 Liverpool Street, in the southern end of the Sydney CBD.
Savills Australia’s Rob Dickins negotiated the term of five years and six months at a rate of $985 per sqm, saying the tenant was attracted to the prominent A-grade quality of the building.
“Offices in 175 Liverpool Street have panoramic views over Hyde Park to the harbour and provide spacious, fitted-out accommodation,” Mr Dickins said.
<img src="https://www.urban.com.au/images/2018/11/7/Liverpool%202.JPG" alt="">
The office tower has retail on the ground floor, a large underground parking station, and modern end-of-trip facilities.
NSW Land Registry Services will relocate from the land titles office opposite St Mary’s Cathedral on April 1, 2019.
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j.ballantyne1990-6AQqhLzZaK

Savills negotiates relocation to Liverpool Street for NSW Land Registry Services

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Amazon's Australian headquarters will be on Market Street in the Sydney CBD.
As the technology giant steps up its expansion, Amazon already occupied office space at 2 Park Street.
The Australian Financial Review says it is now set to occupy 2 Market Street.
Allianz is leaving the building after it sold its half-stake in the tower to Charter Hall.
Allianz occupies more than 18,000 square metres in the building's total of nearly 40,000 square metres in office space.
The second largest tenant is Caltex with 9,000 sq m. The Commonwealth Bank of Australia will be vacating in 2021.
Amazon's distribution centres started in Melbourne's Dandenong South, securing a 24,387 square metre former Bunnings distribution centre from Melbourne's Pellicano family.
The online retailer will open its second distribution centre in Sydney's south-west after leasing a 43,000 square metre facility at Moorebank from Goodman Group.
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Amazon's new Australian headquarters location revealed 

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Greenbox, an architectural firm has signed a five-year lease at Bligh Chambers.
Savills Australia’s Liz Braithwaite and Chris Rowe negotiated the lease for the 300 sqm space at $1,230 per sqm.
They did so on behalf of commercial real estate agency, Kingsmede, saying the new tenant “leapt” at the opportunity to occupy the 25 Bligh Street, Sydney space.
Bligh Chambers is a 31 level office tower with other suites ranging from 72 sqm to 612 sqm.
“Good quality existing fitted suites are leasing rapidly in comparison to open-plan refurbished spaces,” Ms Braithwaite noted.
This deal was made on the back of an upcoming lease expiry and Ms Braithwaite said that this space is in high demand.
“This is the third leasing transaction within this building that we have completed in the past six months, proving continuous demand for sub 300 sqm fitted opportunities in the ‘B’ grade market,” she concluded.
Architects Greenbox have 25th floor space.
Around a decade ago the architectural firm peckvonhartel, who have had 20th floor space, were appointed to redesign the forecourt of 25 Bligh Street, the modernist commercial building.
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Architectural firm secure Sydney CBD lease through Savills

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Multiple office suites spanning the whole floor of a strata titled building near Westfield in Sydney's CBD are now available for lease.
They are available to be leased either individually or interconnected through Ray White Commercial South Sydney and Henderson &amp; Horning.
The property at Level 1, 155 King Street, Sydney known as The Trust Building and formerly The Daily Telegraph building, is being marketed by Ray White Commercial's John Skufris and Henderson &amp; Horning's Will Mulvihill on behalf of a private owner with asking rents from $900 psm pa.
Retailers including Cartier, Chanel and Christian Dior surround the site with Hermes also reportedly relocating to the building.
Mr Skufris said, level 1, 155 King Street, Sydney comprises approximately 500sqm which was suitable for legal/accounting firms, medicos and jewellers.
The Trust Building was built in Interwar Commercial Palazzo style circa 1914.
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Strata office suites now leasing in Sydney CBD

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Broadway Sydney has launched an open-air rooftop roller skating rink, High Rollers, running from the 5th to the 30th of September.
The event takes place in partnership with Sydney Fringe Festival and is to be hosted by social media personality, Cameron Robbie. 
Robbie has recently taken on a role as MTV Entertainment guest reporter.
Justine Saltmarsh, Broadway Sydney, said: “Broadway Sydney Rooftop Roller Rink is an opportunity to celebrate one of the largest independent arts festivals in NSW whilst supporting the work of local artists and performers."
The weekly schedule for the roller rink is as follows with ticket price including skate hire.
Guests will need to BYO socks and night time sessions include live DJ performance.
<table border="1" cellspacing="0" cellpadding="0"><tbody>
<tr>
<td width="254">
DAY
</td>
<td width="254">
TIME
</td>
<td width="254">
COST
</td>
</tr>
<tr>
<td width="254">
Wednesday
</td>
<td width="254">
5pm – 10pm
</td>
<td width="254">
$15 per person, per hour
</td>
</tr>
<tr>
<td width="254">
Thursday
</td>
<td width="254">
5pm – 10pm
</td>
<td width="254">
$15 per person, per hour
</td>
</tr>
<tr>
<td width="254">
Friday
</td>
<td width="254">
5pm – 10pm
</td>
<td width="254">
$15 per person, per hour
</td>
</tr>
<tr>
<td rowspan="2" width="254">
Saturday
</td>
<td width="254">
9am – 5pm
</td>
<td width="254">
$5 per person, per hour
</td>
</tr>
<tr>
<td width="254">
5pm – 10pm
</td>
<td width="254">
$15 per person, per hour
</td>
</tr>
<tr>
<td rowspan="2" width="254">
Sunday
</td>
<td width="254">
9am – 5pm
</td>
<td width="254">
$5 per person, per hour
</td>
</tr>
<tr>
<td width="254">
5pm – 10pm
</td>
<td width="254">
$15 per person, per hour
</td>
</tr>
</tbody></table>
The <a href="https://www.broadwaysydney.com.au/whats-on/events/rooftop-roller-skating-rink" target="_blank">Broadway Sydney Rooftop Roller Rink</a> pop-up is located on the rooftop car park at Broadway Sydney from until the 30th September.
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Broadway Sydney and Fringe Festival team up for rooftop skating rink for high rollers

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Record prices have been achieved for commercial property in the southern end of the Sydney CBD.
More than $78 million worth of assets have been sold in the past few months in Haymarket and surrounding streets.
These suburbs are making a comeback on the back of new infrastructure and development, with recent changes to planning controls attracting a new wave of buyers, according to Savills.
Executive for Metropolitan &amp; Regional Sales at Savills Australia, David Hickey, said the Sydney CBD’s southern corridor was becoming one of the city’s “most dynamic locations”.
His observations follow the sales of 410 Pitt Street for $22.5million, 810-812A George Street ($14.65million) and 94 Hay Street ($16.3million) in Haymarket, and 332 Kent Street ($25million) in Sydney CBD.
“Haymarket is known for its proximity to the southern end of the CBD and all the amenities that it has to offer, including major colleges and universities, Chinatown and Central Station,” Hickey said.
“The recent changes in planning controls give incoming purchasers and developers a substantial opportunity to maximise the uplift and achieve greater density in new projects, providing they can amalgamate adjoining properties.”
Hickey and colleagues Tom and Nick Tuxworth will bring another Haymarket property, 8 Cunningham Street, to market with expectations of circa $5 million.
It is a three-level freehold with 434 square metres of internal area in the heart of Chinatown’s retail trade precinct.
Hickey said it allows for a variety of future configurations and uses, including multi-level office space, hospitality, retail or student accommodation, subject to council approval.
He also predicts an increased level of interest from the residential market for this property because the residential market in Sydney has slowed considerably across the metro area.
"But the city and fringe suburbs have remained extremely strong,” he said.
8 Cunningham Street is within close proximity of a variety of public transport options, including Central Station, several bus routes and the George Street zone of Sydney Light Rail.
There is secure off-street parking for one car.
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Savills sees price resurgence in Haymarket, Sydney commercial sites

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<div>A subsidiary of co-working giant, WeWork, has pre-committed to a 10 year lease of the heritage-listed, 66 King St building</div>
<div> </div>
<div>They have pre-committed to leasing the entire building (pictured above), which is owned by Sydney-based developer Mr Phillip George.</div>
<div> </div>
<div>Mr George is undertaking a $50 million upgrade to the more than 70 year old building, through Taylor Constructions, and will be tenanted by the WeWork owned Gravity co-working brand following completion of the renovation in late 2019.</div>
<div> </div>
<div>Owned since 2007 by Mr George, the 14 level building, located between on the corner of King and York Streets, will cover 7,300 square metres of A Grade commercial and retail space and works have now commenced.</div>
<div> </div>
<div>The art-deco building is heritage listed and described as "an example of art deco-modern American commercial gothic architecture, with two major light wells and a rooftop terrace, to be converted to a bar and restaurant."</div>
<div> </div>
<div>Mr George said “The building is perfect as a co-working environment as it is well located in the middle of the city, close to major transport links and featuring versatile, dynamic spaces well suited to the Gravity brand."</div>
<div> </div>
<div>“The building’s many heritage features, including a marble entrance, stairway and light wells, will be refurbished to create a truly A Grade boutique building in the heart of Sydney’s CBD”, he concluded.</div>
<div> </div>
<div><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/2018/8/8/66%20King%20Street.jpg" alt=""></div>
<div> </div>
<div>CBRE’s Stuart McSorley and Nick Read who negotiated the lease said they believe the refurbishment of the building was pivotal to securing the lease.</div>
<div> </div>
<div>“Upon completion, the building will include new end of trip facilities, rooftop terrace and refurbishment and restoration of the existing heritage features,” Mr McSorley said.</div>
<div> </div>
<div>The site will also feature three retail shops and an underground basement space suited for a bar or other venue for the many office workers now congregating in the centre of the city where there are improved transport links and retail outlets.</div>
<div> </div>
<div>Having sold Mrs Crocket’s Food Group in 2004, Mr George transitioned and is now a property owner and developer with a wide range of residential, industrial and commercial projects worth more than $750 million across Australia.</div>
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WeWork to take up a 10 year lease at refurbished King St building

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As the property cycle currently sits, regional NSW is a stronger property market than Sydney, but beware it has more pitfalls.
The last financial year saw regional NSW values up 3.2 percent, while metropolitan Sydney was down 4.5 percent.
There'd been strong price growth in the 2016-17 financial year too when regional growth was up 11.9 percent, on the coat tail of the stellar 16 percent growth in Sydney, according to CoreLogic.
But scratch below the headline statistics, and the regions are rife with loss taking.
Yes Sydney is now feeling the pinch with some vendors selling their properties at less than they originally paid.
But not at anywhere near the levels experienced in the regions.
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Over the first quarter of 2018, the proportion of resales at a loss across Sydney was 2.4 percent. 
Botany Bay, Hunters Hill, Mosman and Willoughby had no resales at a loss over the quarter while Burwood, Canterbury and Hurstville had the highest proportion of losses.
The proportion of resales at a loss across the NSW regional markets sat at 4.2 percent.
So even in times of continued regional strength, its loss taking was almost double; and at a time when the share of resales at a loss in regional NSW was at its lowest since 2005.
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The resales at a loss were up in the Illawarra, Newcastle and Lake Macquarie, but down on the Mid North Coast.
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CoreLogic research analyst Cameron Kusher forecasts the price decline in Sydney was now resulting in a significant deceleration in growth in regional markets. 
"These regions may see values fall on an annual basis over the coming months," he anticipates.
</div>
</div>
</div>
</div>
Loss taking remained higher among regional investors than owner occupiers. 
Investors, because of taxation rules, are more prepared to incur a loss because they can offset loses against future capital gains.
As declines set in, CoreLogic noted investors, who have been increasingly active in the housing market, may make for the exits which in turn could result in much more supply becoming available for purchase at a time when demand for housing falls because values are declining.
The key demographic backdrop remains unchanged, with the latest Australian Bureau of Statistics population figures. They show around two-thirds or 15.8 million of all 24.6 million Australians live in Sydney, then Melbourne, Brisbane, Perth and Adelaide prompting Simon Kuestenmacher, the director of research at The Demographics Group, to note Australia's fortunes depended heavily on a handful of cities.
"We built one big city with one big central business district in each state, gave each a few satellite cities (for example Wollongong) and also threw in some small towns to manage farming and mining … and, voila, that’s the Australian urban landscape," he suggested.
The silliest thing for cashed up investors to do at this point in the cycle is speculative regional buying which seeks to time the market.
The best risk mitigator is a long-term strategy.... and don't for one moment think we are seeing any permanent passing of the baton from Sydney to the regions.
This article first appeared in The Daily Telegraph.
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jchancellor-FAypfDUnLy

Regional NSW remains a riskier property investment than Sydney

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The Sydney CBD is facing a potential shortage of office supply at the end of the current development cycle, according to Colliers International.
“If white collar employment continues to grow at the forecast rates, we could realistically see longer term vacany rates fall back to historically low levels as the supply of new office space tapers off after the current pipline is delivered.
“New South Wales’ infrastructure boom has transformed the Sydney CBD into a vibrant and connected city. It’s now a vibrant and active city, almost unrecognisable from five years ago. 
“The NSW Government has initiated more than 40 infrastructure projects, with major developments such as the Sydney Light Rail and Sydney Metro train project set to catapult Sydney to a world class status.”
Colliers International research has found more than one million square metres of office space could be required in the Sydney CBD to satisfy white collar employment growth over the next 25 years. (See Graph 2).
“Counter-balancing the delivery of new office buildings between now and 2025, several existing office buildings will be withdrawn from the market and not returned as office towers in the next cycle, particularly in the precinct around Hyde Park where there will be a significant amount of conversion to hotel and residential use,” Mr Woodward said.
<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/2018/6/13/picture%201.jpg" alt="">
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Based upon this information, Colliers International forecasts the Sydney CBD vacancy rate may peak at only 6.7% in January 2025. (See Graph 3)
“There is limited new supply mooted for 2025 and beyond, and history has demonstrated that it can take 10-plus years to amalgamate significant land holdings, obtain the required planning consents and then tenant pre-commitment levels that feasibly allow a new development to commence,” Mr Woodward said. (See Graph 4).
“The developments at 200 George Street and 161 Castlereagh Street took over a decade to move from conception to delivery, and current projects such as Wynyard Place, Quay Quarter Tower and Circular Quay Tower are further examples of the long lead times to deliver new buildings.
“Our top tier institutional asset managers and developers are acutely aware of this longer term situation and are preparing now for the future.
“For example, Lendlease has amalgamated a ‘mega site’ on Spring and O’Connell Streets, adjoining 1 O’Connell Street. Many other developers and asset managers are seeking similar income-producing land banks to position themselves for the future.
“As a result of these conditions, and despite the fact the Sydney CBD has already reached record low yields and capital value peaks, purchasers are are still investing with a high conviction that the market will deliver strong returns moving forward. 
“We have never witnessed such a deep and diverse pool of global investors competing with our domestic fund managers and pension funds. Sydney is genuine global gateway city, and is the number one investment destination for international fund giants, sovereign wealth and pension funds and private investors alike, who all see long term value in the Sydney CBD office sector.”
Cameron Williams, Colliers International National Director of Office Leasing, said Sydney’s infrastructure boom had the potential to create a new future hot spot in the CBD office market as supply tightened in traditional precincts. 
“Currently, development is concentrated in the northern/core precinct but given the Sydney CBD commercial market is constrained along its eastern and western borders – and that vacancy is expected to remain low for the foreseeable future,” Mr Williams said. “The southern CBD corridor – south of Goulburn Street, to Central Station and beyond – is the likely next geographic location that can supply the CBD of Sydney with a significant amount of office space in the next 10 years. 
“With infrastructure projects such as Sydney Metro and Sydney Light Rail currently underway, those locations will become more connected and much more acceptable from a productivity perspective, not to mention easy to access for commuting staff.
“We see the potential for Central Station to become the next Barangaroo, to potentially to supply hundreds of thousands of square metres of office space to the market in 10 years or so.
“The southern precinct of the Sydney CBD is likely to be the next office hot spot from 2025 and beyond, with the potential to deliver more affordable space and provide an alternative location for organisations perhaps considering decentralisation to western Sydney.”
 
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Sydney's Central Station to be the city's next Barangaroo

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Investa has announced Woolworths as its newest tenant in The Sydney Arcade at 400 George Street.
It represents Woolworth’s fifth Metro store in the Sydney CBD.
Woolworths has committed to a seven-year term, over the 1,240 square metre basement space.
The lease includes two, five-year options.
The deal was negotiated by Alex Alamsyah from Knight Frank.
“Woolworths is a great addition to the retail tenancy mix at 400 George Street.
"Supermarkets traditionally favour basement-style space and this prime location at Pitt Street Mall is expected to attract even more customers to The Sydney Arcade,” said Michael Cook at <a href="https://www.investa.com.au/properties/400-george-street" target="_blank">Investa</a>.
“It also reflects the emerging trend in CBD retail away from a complete reliance on fashion to incorporate more serviced-based offerings that appeal to city workers,” he said.
400 George Street is a 51,034 square metre office tower and retail arcade located in the centre of the Sydney CBD, jointly owned by Investa Commercial Property Fund, the M&amp;G Asia Property Fund and funds managed by Mirvac.
The Sydney Arcade incorporates over 5,000 square metres of prime retail space accommodating a range of leading Australian and international brand including Adidas, Bally, Oroton and Ben Sherman.
Located within the Pitt Street Mall precinct, the tower has Telstra occupying over 40,722 square metres of office space.
Just next door 396 George Street, which sits at the intersection of King Street, has been listed for sale in Sydney’s premium retail precinct.
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