Article summary

<ul data-end="785" data-start="311">
	<li data-end="459" data-section-id="5hbcyr" data-start="311">Pikos Group has released the five-penthouse collection at Skye Kangaroo Point, headlined by a two-storey sky home spanning more than 1,000 sqm.</li>
	<li data-end="561" data-section-id="1p7lq8n" data-start="460">Early buyer interest suggests the residences could set a new Queensland apartment price record.</li>
	<li data-end="667" data-section-id="1y70z0l" data-start="562">The collection includes four move-in ready penthouses and the highly customised Skye One residence.</li>
	<li data-end="785" data-section-id="yvm0y1" data-start="668">The release caps one of Bri​sbane's most ambitious luxury apartment developments overlooking the Brisbane River.</li>
</ul>

<hr data-end="790" data-start="787" />
Pikos Group has released the five-penthouse collection at its <a href="https://www.apartments.com.au/buildings/skye-residences-by-pikos-kangaroo-point-8-river-terrace-kangaroo-point-qld-4169">Skye by Pikos</a> development in Kangaroo Point, with early buyer interest indicating the flagship residences could eclipse every apartment sale previously recorded in Queensland.

The collection crowns the luxury riverfront development with five residences, including four completed penthouses and Skye One, a two-level sky home spanning more than 1,000 sqm that will be tailored to its eventual owner.

[smartcode_project:default project_id=90059 project_image_fid=374075]

Wanting to offer a fully customisable home, Pikos is offering Skye One as a blank canvas, allowing the buyer to work alongside the developer's design team to customise the home's layout, finishes and internal spaces.

The residence will feature a 247 sqm private rooftop terrace with its own swimming pool, sauna, steam room, outdoor kitchen and multiple entertaining areas overlooking the Brisbane River and CBD skyline.

The remaining four penthouses have been completed and are ready for immediate occupation, each offering four bedrooms, expansive open-plan living areas, soaring ceilings and private lift access.

[smartcode_project:default project_id=90059 project_image_fid=374059]

One of the defining features throughout the project is its use of Roman Classic Travertine, with more than 20,000 sqm of the natural stone imported from Italy after being personally selected by Pikos Group Founder and Executive Director Pedro Pikos, interior designer Julie Williamson and third-generation stone specialist Mario Caucci.

Pikos said the penthouse collection represented the culmination of the company's long-term vision for Skye.

"True legacy isn't measured by what we build today, but by what endures tomorrow," Pikos said.

"Our ambition is to create places that become more valuable with time, enrich the lives of generations, and stand as timeless landmarks long after we've stepped away."

[smartcode_project:default project_id=90059 project_image_fid=374060]

Williamson said the interiors were inspired by the natural character of Kangaroo Point and the Brisbane River rather than international design trends.

"Materiality tells the story of a place," Williamson said.

"We looked to the movement of the Brisbane River, the texture of the cliff face and the warmth of the surrounding landscape to create interiors that feel understated, enduring and unmistakably Brisbane."

Positioned above the Kangaroo Point cliffs, Skye places residents within walking distance of Howard Smith Wharves, South Bank and James Street while offering uninterrupted river and city views.

[smartcode_project_cta:default project_id=90059]

Joel Robinson

Brisbane's next apartment price record? Pikos unveils Skye's exclusive penthouse collection

Article summary

<ul data-end="888" data-start="289">
	<li data-end="442" data-section-id="8tsh6o" data-start="289">DVB Projects is preparing to launch its second Gold Coast apartment development, with demolition now underway at 137 Old Burleigh Road, Broadbeach.</li>
	<li data-end="573" data-section-id="1nyxl3e" data-start="443">The 34-level tower will comprise just 49 ultra-luxury residences, including half-floor, full-floor and penthouse apartments.</li>
	<li data-end="717" data-section-id="oiyimj" data-start="574">The launch follows strong demand at DVB's nearby Sea Glass project, which is more than 50 per cent sold and currently under construction.</li>
	<li data-end="888" data-section-id="epk9o9" data-start="718">The development adds to the transformation of Old Burleigh Road, with premium beachfront apartment projects continuing to reshape the tightly held Broadbeach strip.</li>
</ul>

<a href="https://www.apartments.com.au/developers/dvb-projects">DVB Projects</a> is preparing to launch its second Gold Coast apartment development, with demolition now underway on the Broadbeach site as the Sydney developer moves closer to bringing the ultra-luxury project to market.

The 34-level tower at <a href="https://www.apartments.com.au/new-apartments/137-old-burleigh-road-broadbeach-qld-4218">137 Old Burleigh Road</a> will comprise just 49 residences, ranging from half-floor apartments through to full-floor homes and a penthouse. The launch follows the strong sales performance of DVB's nearby Sea Glass development. More than half of the apartments at Sea Glass, on the other side of Broadbeach, have been snapped up, well ahead of its late 2027 completion

<img alt="DVB Projects to commence demolition on $320m Broadbeach luxury tower" data-entity-type="file" data-entity-uuid="2944b4be-c84e-4b54-8dc1-c712e76704c0" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/E02_Exterior_Street%20Level%20Entrance.jpg?VersionId=YoNig7pRdrE3HCue7sUj78LzJteeQf3H" />

The start of demolition at 137 Old Burleigh Road signals DVB Projects’ underlying confidence in the Gold Coast’s luxury beachside apartment sector.

“We see the Gold Coast as one of the most compelling lifestyle markets in Australia, particularly at the premium end where demand continues to deepen,” said Dean Brown, Managing Director of DVB.&nbsp;

“This project has been carefully designed to respond to that demand - delivering large-format residences with a level of quality, privacy and amenity that is still relatively rare in the apartment market on the beachside."

Brown says the site itself is "exceptional."

"Old Burleigh Road is one of the most tightly held beachfront strips, and opportunities to deliver a project of this scale and calibre in this location are extremely limited.”

<img alt="DVB Projects to commence demolition on $320m Broadbeach luxury tower" data-entity-type="file" data-entity-uuid="398f377a-c037-455e-9250-0c5e0d84c35b" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/I12_FF%20Balcony.jpg?VersionId=NwOiRWGMubR1c8wthuEfggklcja7al9." />

The project will comprise 40 half-floor residences of approximately 260 sqm, alongside eight full-floor residences spanning around 524 sqm.

A single penthouse will crown the building, featuring a private pool, barbecue area, indoor gym and dedicated entertaining spaces.

Residents will have access to a resort-style suite of amenities, including a 20-metre pool with daybeds, a gymnasium, hot and cold plunge pools, a sauna, and private residents’ lounge and dining facilities.

<img alt="DVB Projects to commence demolition on $320m Broadbeach luxury tower" data-entity-type="file" data-entity-uuid="d1642bb0-9a66-4427-a022-dfc0988c6287" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/A02_Pool%20to%20View.jpg?VersionId=c0IXPyn_Gp_Kn3XCwzMrqIVkAdCEwVXP" />

Sales agent Todd Matheson, of <a href="https://www.apartments.com.au/project-marketer/pezet-matheson">Pezet Matheson</a>, which is marketing both 137 Old Burleigh Road and Sea Glass, said 137 Old Burleigh Road would address a clear gap in the market for genuine luxury products.

“There are very few opportunities on the Gold Coast where buyers can secure a residence of this size and quality in a new building,” Matheson said.

“What we’re seeing is a growing cohort of downsizers and interstate buyers who still want space - they’re not willing to compromise on living area, entertaining or finishes.

“This project has been designed with that buyer in mind. It offers the scale of a home, combined with the convenience and security of apartment living, in one of the coast’s most desirable positions.”

<img alt="DVB Projects to commence demolition on $320m Broadbeach luxury tower" data-entity-type="file" data-entity-uuid="59aae0ca-5639-4320-8aca-d0bf60f48e43" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/E01_Exterior%20Hero.jpg?VersionId=DS8Zfy2WtgUEtdfe0TEUuf1W1GfcZq8S" />

Located on a 1,156 sqm site one block from the beachfront, the development will replace an ageing walk-up building and is expected to contribute to the ongoing transformation of the Old Burleigh Road strip into one of the Gold Coast’s most prestigious residential corridors.

With the development moving into the delivery phase, 137 Old Burleigh Road is slated to hit the market later this year.

[smartcode_project_cta:default project_id=145141]

DVB Projects to launch second Broadbeach apartment tower as demolition commences

A proposal to redevelop one of North Sydney's ageing commercial buildings has taken another step forward, with plans for a 38-storey mixed-use tower adding momentum to the long-awaited transformation of the Alfred Street precinct.

Now on public exhibition through the NSW Government's Housing Delivery Authority-led State Significant Development pathway, the proposal for 271-273 Alfred Street would replace an underutilised commercial building with 95 apartments, ground-floor retail, commercial space and affordable housing. The proposal was submitted by&nbsp;Tara Shore Pty Ltd, acting for the John Taylor Family Trust.

While the project will deliver much-needed housing on the southern edge of the North Sydney CBD, it also represents another piece of a broader precinct that has spent years in planning limbo.

<img alt="First look: New public domain vision underpins 95-apartment North Sydney tower on Alfred Street" data-entity-type="file" data-entity-uuid="7e1ce1b4-38df-48ab-992f-386814d86308" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Alfred%20St%20da%20podium.png?VersionId=sC_h6w.A9VEoB98qsqowPlIoz__sBZBt" />

Despite its proximity to both North Sydney Station and the Victoria Cross Metro, redevelopment of Alfred Street has progressed slowly over the past decade as broader planning controls, zoning and building heights remained unresolved. The introduction of the Housing Delivery Authority pathway has provided a new avenue for projects to progress, allowing rezoning and development assessment to occur concurrently and unlocking sites that have long been earmarked for renewal.

Designed by Office of Cortese &amp; Gilder, the proposal seeks to do more than replace an ageing office building. The architects have positioned the project as the first stage of a wider public domain vision that would improve pedestrian connectivity and create a more cohesive mixed-use precinct as neighbouring sites are redeveloped over time.

The proposal includes a widened Alfred Street setback, new street trees, landscaping and outdoor seating, along with a landscaped through-site pedestrian link connecting Alfred Street with Little Alfred Street. The connection is intended to become the first section of a future east-west pedestrian network extending across the precinct.

<img alt="First look: New public domain vision underpins 95-apartment North Sydney tower on Alfred Street" data-entity-type="file" data-entity-uuid="8ea39ac3-46ad-4562-b4a0-b862e91c2dda" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Alfred%20St%20da%20site.png?VersionId=K7umCd21KpetEFuVfsPlnJKhUOsmTTdV" />

The mixed-use tower would comprise retail space at ground level, commercial uses on level two and apartments from level three upwards.

In total, the development would deliver 95 apartments, including nine one-bedroom, 28 two-bedroom, 56 three-bedroom and two four-bedroom residences. Twenty-one apartments, representing 15 per cent of the residential gross floor area, would be secured as affordable housing and managed by a registered community housing provider for at least 15 years.

Nine basement levels would provide 133 resident car spaces, seven motorcycle spaces and 111 bicycle spaces.

According to the Architecture and Urban Design Report, the public domain strategy is designed to transform what is currently an inward-facing commercial edge into a more active and connected pedestrian environment, creating a stronger relationship between the commercial core and surrounding residential neighbourhoods.

Office of Cortese &amp; Gilder has also prepared a broader public domain framework spanning neighbouring properties between 263 and 283 Alfred Street, arguing that a coordinated approach to redevelopment will deliver better public spaces, improved tower separation and a more connected streetscape as the precinct evolves.

The proposal comes at a time where North Sydney is slated for future residential growth. Commercial developer FiveX has residential plans for the neighbouring site at 275 Alfred Street. They've proposed a 39-storey mixed-use tower with 184 apartments, while Freecity was recently approved for nearly 300 apartments across a 51-storey building on Walker Street.

Read more:&nbsp;<a href="https://www.apartments.com.au/news/nsw/first-look-freecity-gets-green-light-for-mixed-use-apartment-and-hotel-tower-in-north-sydney">First look: Freecity gets green light for mixed-use apartment and hotel tower in North Sydney</a>

Read more:&nbsp;<a href="https://www.apartments.com.au/news/nsw/first-look-fivex-plans-39-storey-residential-tower-in-booming-north-sydney">First look: Fivex plans 39-storey residential tower in booming North Sydney</a>

&nbsp;

Alfred Street the latest North Sydney pocket to be transformed by residential development

Buyers considering a residence at boutique Gordon townhouse development <a href="https://www.apartments.com.au/new-townhouses/lume-gordon-43-47-dumaresq-street-gordon-nsw-2072">Lume</a>&nbsp;now have another reason to bring forward their decision.

For a limited time, purchasers of a residence at Lume will receive a BMW iX3 50 electric SUV, valued at more than $120,000, as part of their purchase. The offer is designed to add value for buyers while complementing the lifestyle envisioned for the architecturally designed Upper North Shore development.

Scott Timmins, Development Manager at <a href="https://www.apartments.com.au/developers/winim">WINIM</a>, said the partnership was created to provide buyers with a compelling reason to act.

"In today's market, buyers need a compelling reason to act now, and the BMW partnership was designed to create that catalyst. We wanted to add genuine value for our future purchasers. Choosing the all-electric BMW iX3 50 also reflects the values behind LUME, forward-thinking design, innovation and a more sustainable way of living. It's a premium incentive that complements the lifestyle our buyers aspire to and rewards those who commit early."

[smartcode_project:default project_id=7354 project_image_fid=374893]

Delivered by WINIM in partnership with Burtonwood Investment Partners, Lume comprises 14 architecturally designed two, three and four-bedroom townhomes created for families seeking the space of a freestanding house with the ease of modern, low-maintenance living.

The three-storey residences, designed by award-winning architecture practice <a href="https://www.apartments.com.au/architects/rothelowman">Rothelowman</a>, have been tailored for families and multi-generational living, featuring private internal lifts, flexible lower-level spaces, generous open-plan living and entertaining areas, media rooms, and landscaped outdoor spaces with custom outdoor kitchens.&nbsp;

Inside, engineered oak flooring, bespoke dining joinery with integrated wine fridges and backlit bars, sculptural porcelain bathrooms, Parisi freestanding baths and Astra Walker tapware create interiors that balance functionality with refined finishes.

Each townhome has been designed to combine generous internal spaces with sustainability initiatives such as EV charging infrastructure, while <a href="https://www.apartments.com.au/landscape-architect/arcadia-landscape-architecture">Arcadia</a>'s landscaped communal areas, centred around a restored creek line and native planting, encourage residents to connect with nature and spend more time outdoors.

[smartcode_project:default project_id=7354 project_image_fid=269527]

Rothelowman's Gary Tsui said the architecture was conceived to respond carefully to its Upper North Shore setting.

"Our vision was to create elegant, uplifting homes that draw on and positively contribute to the local character through meticulously considered design and an interaction with the surroundings."

The communal landscape has been designed as more than an open space between homes. Arcadia's Ben Newell and Kate Phillips said the adjoining reserve provided an opportunity to create a distinctive natural retreat for residents.

"Just as waterways carve their way through Ku-ring-gai's landscape, a raised boardwalk weaves through the reserve, connecting the homes to this tranquil oasis."

[smartcode_project:default project_id=7354 project_image_fid=374892]

Located just 300 metres from <a href="https://www.apartments.com.au/developments/gordon-nsw-2072">Gordon</a> Village and Gordon railway station, Lume offers convenient access to Sydney's CBD while placing residents close to some of the North Shore's leading schools, including Ravenswood, Pymble Ladies' College and Knox Grammar. Lane Cove National Park, Gordon Golf Club and a range of cafés and restaurants further reinforce the family-focused lifestyle on offer, with the BMW iX3 50 complementing everything from local trips around Gordon to weekend drives and city commutes.

Construction is underway with completion expected in mid-2027.

[smartcode_project_cta:default project_id=7354]

Boutique Gordon townhomes now come with a BMW iX3 50

Two apartments have sold for more than $10 million at EADE Byron Bay, setting some of the highest apartment prices ever achieved in the coastal town and underlining the growing appetite for luxury beachfront apartments in Australia's most popular coastal locations.

The $210 million project by Vitale Property Group has now secured more than $70 million in sales, led by residences that changed hands for $12.75 million and $11.75 million.

The record-breaking transactions reinforce the shift occurring in Byron Bay's premium property market, where affluent downsizers and lifestyle buyers are increasingly opting for high-end apartments over large beachfront homes.

<a href="https://www.apartments.com.au/new-apartments/eade-byron-bay-29-shirley-street-byron-bay-nsw-2481">EADE Byron Bay</a> occupies a rare 6,000 sqm absolute beachfront site on the corner of Shirley and Milton Streets overlooking Main Beach and The Wreck surf break, just 350 metres from Byron Bay's town centre.

The 25-residence development is the first beachfront apartment project approved in Byron Bay in more than a decade and is currently under construction, with completion expected in May 2027.

[smartcode_project:default project_id=145590 project_image_fid=359521]

The project has attracted a mix of local Byron Shire residents downsizing from larger homes, alongside interstate buyers from Sydney, Melbourne and Brisbane seeking a permanent coastal lifestyle without compromising on space.

Designed by <a href="https://www.apartments.com.au/architects/hayball">Hayball</a> and with interiors by <a href="https://www.apartments.com.au/interior-designers/alexander-co">Alexander &amp; Co</a>, EADE comprises&nbsp;10 garden apartments ranging from 284 sqm to 622 sqm, nine with private pools, five full-floor apartments and 10 rooftop residences with private plunge pools, expansive outdoor entertaining areas and uninterrupted ocean views.

[smartcode_project:default project_id=145590 project_image_fid=359527]

<a href="https://www.apartments.com.au/developers/vitale-property-group">Vitale Property Group</a> Managing Partner Chris Vitale said the project's combination of scale, location and limited future supply was driving buyer demand.

"There isn't another beachfront holding in Byron Bay of this size and position that could be developed again," Vitale said.

"Buyers are responding to the scarcity and the irreplaceability of a site of this calibre and to floorplans they can't find elsewhere in the market.

"We are seeing buyers place significant value on quality, space, design, resort-style amenities and the rarity of the location. The sales achieved to date demonstrate that discerning purchasers recognise the long-term significance of what is being created at EADE Byron Bay.

"Many are coming from larger homes in the Byron region, or from Sydney, Melbourne and Brisbane, and are after the space, security and convenience, without the upkeep of a house."

&nbsp;

[smartcode_project:default project_id=145590 project_image_fid=359523]

The Byron Bay project follows Vitale Property Group's delivery of the Mondrian Hotel and Private Residences at Burleigh Heads, with EADE continuing the developer's focus on luxury coastal developments.

Residents will have access to a resort-style swimming pool, gymnasium, sauna, cold plunge pool, concierge services and dedicated workspaces, while the project is targeting an 8-Star Green Star rating.

EADE Byron Bay is being exclusively marketed by Projx Australia in conjunction with WHITEFOX Projects.

WHITEFOX National Projects Director Phillip Rand said demand had been driven predominantly by owner-occupiers.

"We are seeing buyers at EADE place significant value on quality, space, design, resort-style amenities and the rarity of this location," Rand says.

"The sales achieved to date demonstrate that purchasers at this level recognise the long-term significance of what is being created at EADE Byron Bay."

Residences at EADE Byron Bay are currently priced between $4.75 million and $15.95 million.

&nbsp;

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&nbsp;

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[smartcode_project_cta:default project_id=145590]

Vitale breaks Byron Bay records with EADE sales flurry 

Toowomba

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The Toowoomba and surrounding residential property market remains steady at present, according to the valuation firm, Herron Todd White, with low sales volumes widespread across all sectors. 
Being one of the more affordable regional locations in Australia, Toowoomba offers an opportunity for first home buyers in the sub $450,000 segment.
"Toowoomba and surrounding suburbs offer an opportunity for many different types of home owners, with various industry and job opportunities, a central hub location, a diverse property market and varying segments.
HTW noted while lending has tightened and property ownership has become more difficult, there are still good opportunities in the Toowoomba region.
"Strategies such as joint ownership can also bring affordability to young people getting their foot in the ownership door and out of the rental market," their recent report noted.
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The typical product attractive to first home buyers tends to be in the sub $450,000 segment, being new 2- and 3-bedroom units as well as 3- and 4-bedroom houses located in active investor areas in the western suburbs of Toowoomba and satellite suburbs such as Cambooya and Wyreema. 
"The other trending option is to buy older housing in more established areas."
A three-bedroom house at <a href="https://www.realestate.com.au/sold/property-house-qld-newtown-125333342" target="_blank">2a McDowall Street</a> (above) in Toowoomba’s Newtown suburb sold for $412,500 recently. The selling agent was Darren Bliesner of Professionals.
A four-bedroom house at <a href="https://www.realestate.com.au/sold/property-house-qld-harristown-124937858" target="_blank">24 Friend Street</a> in Harristown (Toowoomba) changed hands for $420,000. The selling agent was Craig Horncy of Century 21.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/10/24/Toowoomba2.jpg" alt="">
Noting families generally seek slightly different properties to first home buyers, with a focus on more space (i.e. 4-bedroom houses), bigger back yards and close proximity to schools, HTW noted this type of housing was found throughout Toowoomba, Highfields and Westbrook in the sub $600,000 segment.
Empty nesters seem to stay put in the family home or down-size to unit or villa living and seem to fill the higher priced property segment.
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"Attached housing and detached housing on small lots are tending to grow in popularity throughout the Toowoomba area, particularly in the older areas close to the CBD. 
"The dream of having a big back yard appears to be changing. 
"Many infill blocks have been sub-divided into smaller lots or have had unit complexes built on them. 
"This type of product may be attractive to empty nesters looking to downsize for maintenance and convenience reasons."
It noted attached housing is also becoming more appealing to first home buyers for affordability. 
"This product is often more suited to home buyers than investors due to costs for the location and resulting returns on capital."
HTW advised the sector most active is upgraders looking toget into a bigger house or a more desirable location. 
Properties in areas such as Rangeville, Middle Ridge, East Toowoomba and Mount Lofty seem to be what is sought after by this sector. 
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j.ballantyne1990-6AQqhLzZaK

Toowomba's affordability sees sub-$450,000 FHB buying

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Toowoomba continues to offer affordable options for first time buyers with a large supply of product on the market, steady investor interest and land developments benefiting affordability, according to HTW’s Month in Review: March 2017. 
The valuation firm says land development in the western suburbs, including Glenvale and satellite suburbs such as Wyreema and Cambooya, have offered affordable land or house and land packages for first time buyers.
“Some new developments in the western suburbs have introduced small lots, which may be attractive to first time buyers because of their lower price points than traditional sized lots,” the report says.
“This has been enhanced by the current low interest rates, developer land rebate offerings and $20,000 first home owner grant available until 30 June 2017.”
An oversupply in some areas has resulted in price reductions across older established properties in the sub $400,000 market, significantly reduced asking rents and increased vacancy rates up to around 4%.
“First time buyers should consider all avenues such as an existing property in an older established area,” HTW says.
“An older, possibly smaller property in need of some [care] could present an opportunity for a first time buyer to get a foot in the door of the property market at a much lower price than a brand new larger house in a newly developed area.
“Many of these properties are located in suburbs close to the CBD.
“The first time buyer could potentially build capital with future improvements.”
A three bedroom house at <a href="https://www.realestate.com.au/property-house-qld-north+toowoomba-124983914" target="_blank">149 Jellicoe Street</a>, North Toowoomba (above) has been listed for $239,000.
Similarly a three bedroom house at <a href="https://www.realestate.com.au/property-house-qld-north+toowoomba-124373914" target="_blank">10 Raff Street</a>, North Toowoomba (below) has been listed for over $319,000.
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jonathanchancellor-7SQnKwU6yx

Oversupply increasing affordability for Toowoomba first home buyers: HTW

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A fully leased retail centre in Queensland’s largest inland city, Toowoomba, has sold for more than $14 million on a robust yield of 7 percent. 
Wyalla Plaza at 236A-238A Taylor Street, Newtown returns a net rental income of more than $1 million per annum and offers opportunity for further growth, according to its description. 
Tenants include Puma, Domino’s Pizza, Downs Rural Medical and Malouf Pharmacy among others. 
The property was sold through agents Stephen Kidd and Peter Marks of Ray White Commercial to a Melbourne-based investor. 
Kidd said the marketing campaign for Wyalla Plaza attracted strong local, interstate and international interest.
“Wyalla Plaza is 100 per cent leased and includes a service station, medical centre and a total of 25 tenants,” he said.
The property has a land area of 14,028 sqm and a gross floor area of 3,995 sqm. 
Marks said there is currently a strong appetite for investment in Toowoomba with the city of nearly 163,000 people enjoying a bright economic future underwritten by primary industry, natural resources, education and tourism sectors.
“Toowoomba is currently experiencing an influx of major infrastructure developments totalling more than $10 billion,” he said.
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Toowoomba shopping centre sells for more than $14 million on a strong yield

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The expansion and redevelopment of Grand Central Shopping Centre in Toowoomba continues with stage one now complete and the balance of the project expected to be completed in early 2017, according to Herron Todd White’s (HTW) latest report.
The property advisory firm says that centre management has been aggressive in leasing the new specialty shops, concentrating mostly on national quality retailers.
The majority of recent leasing activity within the Toowoomba CBD has been to cafés, bars and restaurants.
The majority of these operators are new to Toowoomba, resulting in a strong influx of new options for local diners.
Retail rents in general have remained relatively static although market leading rents are often achieved for new developments.
The historically low interest rates have resulted in strong demand from investors for retail properties, however the lack of supply of quality, fully leased properties has limited the number of investment sales and has resulted in a firming of net yields over the past two years.
Recent retail investment sales in Toowoomba include:
<ul>
<li>3/879 Ruthven Street, Kearneys Spring – Modern retail building with two tenancies leased to an Indian restaurant and a convenience store. Weighted average lease expiry (WALE) of 3.15 years. Sale reflected a passing net yield of 7.28% and analysed net yield of 8.25%. Sale price of $580,000. 
</li>
<li>283 Ruthven Street, Harlaxton - Semi-modern retail centre leased to Red Rooster and a Foodworks supermarket. WALE of 2.83 years. Sale reflected a net yield of 7.8%. Sale price of $1.575 million. 
</li>
<li>330 Stenner Street, Kearneys Spring – Restaurant leased to local Pizza Hut franchisee. WALE of 8.56 years. Sale reflected a net yield of 5.82%. Sale price of $1.85 million.</li>
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The retail market in Gladstone has continued at a similar pace to most of 2015 and the beginning of 2016, with increasing vacancies in secondary locations, and reductions in rental levels.
Well anchored centres with good location, access and exposure appear to be maintaining occupancies, however centres in secondary locations or with no significant anchor tenant appear to be bearing the brunt of current market conditions.
"Sales activity has been low, with no known notable retail sales during 2016," HTW noted.
The market is currently dominated by owner-occupiers who are taking advantage of the weaker market conditions and low interest rates.
The development site on the corner of Boles and Breslin Streets generated a fair amount of talk and media when it was purchased by Aldi Foods Pty Ltd in January.
Construction is now well underway and the completion date is speculated to be toward the end of 2016.
The development of a multi-million dollar Coles anchored shopping centre, opposite the existing Woolworths centre on Dixon Drive, continues to remain at the forefront of discussion as Coles continues to challenge the decisions made by Gladstone Regional Council.
"The latest reported update is that the fourth development approval to be submitted (subdividing the site into four lots) has been approved, yet with many conditions that Coles is reportedly set to challenge," it noted.
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New options for Toowoomba local diners while retail market in Gladstone remains steady: HTW

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Queensland’s Toowoomba sits on the list of most-searched suburbs list for 2015 by rent.com.au.
The median rent for all rental properties advertised in Toowoomba earlier this year was $267 per week, a fall of 5.31 percent from the last previous quarter. 
Toowoomba’s median price was also well below the median of $290 per week for surrounding suburbs which include East Toowoomba, Harristown, Newtown, North Toowoomba and South Toowoomba. 
The average days on market for all rental properties advertised in Toowoomba within the last 90 days improved by 15 days to 27 from the last quarter. Toowoomba also did better than the 40 days on market for surrounding suburbs.
Out of a total of 10 rental properties advertised in Toowoomba within the 30 days, six were houses and four were apartments. 
The price range of advertised properties was from $180 for a two-bedroom dwelling to $380 for four bedrooms.
As an illustration, Property Observer came across a couple of dwellings up for rent around the median price on <a href="https://rent.com.au/" target="_blank">rent.com.au</a>:
<img src="/images/2016/04/29/rent_1apartment.jpg" alt="" width="475" height="356"> A two-bedroom apartment at <a href="https://www.rent.com.au/property-apartment-toowoomba-4350-1711428" target="_blank">1/115 South Street, </a><a href="https://www.rent.com.au/property-apartment-toowoomba-4350-1711428" target="_blank">Toowoomba</a>, is up for rent at $270 per week. 
<img src="/images/2016/04/29/700_woomba2.jpg" alt="" width="532" height="326">
A three-bedroom house at <a href="https://www.rent.com.au/property-house-toowoomba-4350-1759878" target="_blank">8 Hamwood Street</a>, is up for rent at $300 per week.
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