Melbourne developer Spacious Group has completed Voyage Altona, one of the closest new apartment developments to Altona Beach.

Off the plan purchasers have started moving into the 49-apartment project on Pier Street, with the remaining move-in-ready one-, two- and three-bedroom apartments starting from just over $500,000.

Display apartments have now been fitted out, allowing prospective buyers to inspect the completed residences by appointment.

[smartcode_project:default project_id=112195 project_image_fid=372638]

The completed apartments feature open-plan living and dining areas which extend onto private balconies and terraces, while full-height glazing maximises natural light throughout the interiors.&nbsp;

Hybrid timber-look flooring, stone benchtops, Miele appliances, porcelain-tiled bathrooms and generous storage feature throughout the building which also features landscaped communal areas, expansive shared terraces, lift access and secure on-grade parking.

Drawing inspiration from its bayside setting, Voyage adopts a restrained palette of warm neutral tones and textured finishes. Many of the apartments take advantage of views across Port Phillip Bay, while the indoor-outdoor living spaces have been designed to make the most of the coastal outlook.

[smartcode_project:default project_id=112195 project_image_fid=3286]

Voyage was developed to address what Spacious Group identified as an undersupply of higher-quality apartment product in Altona, with a focus on owner-occupiers looking to remain within the bayside community.

"Voyage responds to very strong local buyer demand for quality, owner-occupier-focused product," says Barry Plant Projects Director Jarrod Farey, who has handled sales since the project's launch.

"The project delivers an elevated lifestyle proposition, with its design and quality of finish far exceeding anything previously produced in the area, as well as its proximity to Pier Street Village and the beach."

The majority of purchasers have been local downsizers and owner-occupiers looking to stay within the Altona community but who previously had limited opportunities to buy a brand-new apartment.

[smartcode_project_cta:default project_id=112195]

Joel Robinson

Spacious Group completes Voyage Altona in Altona's beachside precinct

Homecorp has secured approval for a $360 million apartment development at Budds Beach, paving the way for one of the Gold Coast's most amenity-rich residential projects to launch later this year.

Gold Coast City Council has approved Lýon Residences, a 32-level tower that will deliver 178 two and three-bedroom apartments across a prominent corner site at 8-10 Acacia Avenue and 25-27 Oak Avenue.

The approval comes as developers continue to invest in premium lifestyle-driven apartment projects on the Gold Coast, where owner occupiers are increasingly prioritising amenity as much as apartment size and location.

<a href="https://www.apartments.com.au/new-apartments/l-on-residences-25-27-oak-avenue-surfers-paradise-qld-4217">Lýon Residences</a> has been designed around a resort-style wellness offering, headlined by a Moroccan-inspired spa precinct featuring treatment rooms, a Nordic sauna and steam room, hot and cold plunge pools, a soaking pool and a residents-only juice bar.

The rooftop will include a heated infinity pool and spa, residents' lounge with private kitchen and bar, gymnasium, yoga and Pilates studio, outdoor entertaining areas and barbecue facilities overlooking the Surfers Paradise skyline.

<img alt="Lyon" data-entity-type="file" data-entity-uuid="2d3e29af-8793-486e-a684-52cef862241f" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-07-15%20at%204.32.26%E2%80%AFPM.png?VersionId=ayG2zpLf3SS6Zy8XmKDcQods4kVWb0gm" />

Homecorp Founder and CEO Ron Bakir said Budds Beach provided the ideal location for the company's latest luxury apartment project.

"Budds Beach represents one of the most unique and sought-after pockets of the Gold Coast, and Lýon Residences has been designed to reflect that sense of rarity and refinement," Bakir said.

The project arrives as wellness continues to become a defining feature of new residential developments both in Australia and internationally.

The latest Global Wellness Institute figures show wellness real estate remains the fastest-growing segment of the global wellness economy and is forecast to exceed $1.8 trillion by 2030. Australia continues to rank among the world's 15 largest wellness real estate markets, with developers increasingly integrating health, recreation and community facilities into apartment projects.

Queensland is also experiencing strong population growth, with the Gold Coast continuing to outperform many other Australian cities as demand for new housing remains elevated ahead of the 2032 Olympic and Paralympic Games.

Bakir said the project had been designed to respond to that shift in buyer expectations.

"Strong population growth and sustained demand across the Gold Coast continue to highlight the need for well-designed new housing supply. Lýon Residences responds directly to this demand while setting a new benchmark for residential living," he said.

Each apartment has been designed to maximise views across the coastline, the Nerang River and the Gold Coast hinterland.

Located just minutes from Surfers Paradise beach and the Broadwater, the development also offers easy access to the light rail network, Broadbeach and Burleigh Heads.

Early site works are underway, with construction expected to commence later this year.

Homecorp approved for Budds Beach apartment tower, Lýon Residences

New apartment developments with uninterrupted, north-facing views over Perth's Swan River are exceptionally rare.

Recognising just how limited those opportunities are, <a href="https://www.apartments.com.au/developers/edge-visionary-living">Edge Visionary Living</a>, one of Perth's most respected builder-developers, targeted <a href="https://www.apartments.com.au/developments/applecross-wa-6153">Applecross</a>, assembling an unrepeatable 6,342 sqm riverfront site on the corner of Moreau Mews and Canning Beach Road to create one of Perth's only new north-facing apartment developments directly overlooking the Swan River.

Today, <a href="https://www.apartments.com.au/buildings/riviere-residences-applecross-59-canning-beach-road-applecross-wa-6153">Rivière Residences</a> offers buyers a unique opportunity to choose between completed residences ready to move into now and off-the-plan homes in the final stage, Rivière West.

[smartcode_project:default project_id=28384 project_image_fid=3823]

Across the completed East and Central buildings, residents are already enjoying the development's luxury amenity, while two of the precinct's hospitality venues are now open.

The completed component of the development gives buyers the advantage of experiencing the finished product firsthand, including its uninterrupted river views, while still having the opportunity to secure a residence in the final stage.

"People are wowed by the view and the quality of the apartments,"&nbsp;Edge Visionary Living Sales Executive, Holly McSweeney, says.

"They're looking for the convenience of lock-and-leave living, but they're not looking to downsize on quality."

[smartcode_project:default project_id=28384 project_image_fid=3826]

The rarity of the development hasn't been lost on prospective buyers, McSweeney says.

For McSweeney, it all comes back to a location that is becoming increasingly difficult to replicate.

"Location, location, location," she says. "We are nestled right on the front of the Swan River. You can never get built out, so wherever you are in Rivière Residences, you've got views of the river forever."

The unique waterfront position has resonated particularly strongly with local downsizers. McSweeney says many buyers are long-time Applecross residents looking to transition from large family homes into a luxury apartment without sacrificing space, quality or the lifestyle they've enjoyed for decades.

<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/N_FowNW0wu8?si=vb25XFq1wZ-iufAW" title="YouTube video player" width="560"></iframe>

A major focus for Edge in recent years has been resident amenity. Across its apartment portfolio, from beachfront developments in Scarborough to luxury towers in South Perth, the developer has increasingly invested in the spaces beyond the apartment itself.

The strategy has largely been shaped by downsizer demand. Many buyers are moving from large family homes with swimming pools and established gardens. While they're looking to leave the maintenance behind, they don't want to compromise on lifestyle.

At Rivière, <a href="https://www.apartments.com.au/architects/hillam-architects">Hillam Architects</a> designed the resident facilities as an extension of each apartment. A 25-metre heated swimming pool takes advantage of the north-facing river outlook, complemented by a large gym, sauna and steam rooms, private dining spaces, residents' lounges, a cinema, games room, and dedicated wine and whisky rooms.

[smartcode_project:default project_id=28384 project_image_fid=372542]

The waterfront location has also proved to be a major drawcard. Residents are within walking distance of the Raffles Hotel, South of Perth Yacht Club, the Heathcote Cultural Precinct and the cafés, restaurants and boutiques along Ardross Street.

Beyond the location and amenity, McSweeney says many buyers take confidence from Edge's fully integrated development model.

Having delivered apartments across Perth for decades, Edge now designs, develops and constructs its projects in-house, giving the company greater control over quality, delivery and the finished product.

"What I love is when people walk through their apartment for the first time and say, 'This is better than what we imagined,'" McSweeney says. "We hear that all the time."

Completed apartments in the East and Central buildings are now available to inspect by appointment, while Rivière West, the final stage of the precinct, is expected to be completed in the first quarter of 2027.

[smartcode_project_cta:default project_id=28384]

North-facing Swan River views drive demand at Rivière Residences in Applecross

Nearly 60 per cent of apartments at McNab Group's $220 million The Tannery development in Brisbane's West End have sold ahead of the project's public launch, including a suburb-record $2.57 million sale for a two-bedroom apartment.

The early sales campaign has secured buyers for 50 of the project's 87 apartments, highlighting continued demand for larger owner-occupier apartments that combine generous floorplans with premium lifestyle amenities in one of Brisbane's most tightly held inner-city suburbs.

[smartcode_project:default project_id=143337 project_image_fid=374768]

McNab Group Executive Chairman Michael McNab said selling more than half the project before launch reflected changing buyer expectations.

"Selling more than half the project before public sales open tells us buyers are actively seeking apartments that offer something genuinely different," McNab said.

"Today's buyers are looking beyond four walls. They want homes that genuinely enhance the way they live, with spaces that support health, connection and everyday wellbeing."

[smartcode_project:default project_id=143337 project_image_fid=374767]

A key point of difference for the project is the adaptive reuse of the heritage-listed Dixon's Tannery building, which will become The Retreat, a residents-only wellness precinct rather than being redeveloped into additional apartments.

The Retreat will feature a sauna and steam room, hot and cold plunge pools, a commercial-grade gym, Pilates studio, cinema, library, co-working spaces and private dining room. Rooftop amenities will include a swimming pool, landscaped gardens, outdoor entertaining areas and dog-friendly spaces.

[smartcode_project:default project_id=143337 project_image_fid=374760]

Designed by Cottee Parker Architects with interiors by Tom Mark Henry and landscape architecture by Aspect Studios, The Tannery comprises 87 two, three and four-bedroom apartments across 11 levels overlooking the Brisbane River.

Cottee Parker principal Dee Passenger said preserving the original tannery building had been central to the project's design.

"The easy option would have been to maximise the site's development potential with additional apartments. Instead, McNab has chosen to preserve the original tannery as a shared wellness retreat, ensuring this important piece of Brisbane's history remains at the heart of the community."

Passenger said sustainability also played a key role in the design, with materials from the original industrial site salvaged and repurposed throughout the development.

[smartcode_project:default project_id=143337 project_image_fid=374761]

Motiv CEO Carly Cottam said buyers had responded strongly to the combination of larger apartments, wellness facilities and the West End lifestyle.

"We are seeing more buyers looking for homes in the sky that provide the space and functionality of a traditional home, while benefiting from the convenience and lifestyle that apartment living brings," Cottam said.

She said purchasers included both owner occupiers and investors, with demand coming from local buyers as well as interstate purchasers.

Coinciding with the public launch, McNab also announced a partnership with Queensland Ballet, whose neighbouring Thomas Dixon Centre shares historical ties with the original Dixon family.

Located on a 4,465 sqm site at 439 Montague Road, The Tannery overlooks the Brisbane River and is around 10 minutes from the CBD.

Construction is underway, with completion expected in the second half of 2027.

[smartcode_project_cta:default project_id=143337]

More than half of residences sold before public sales as McNab announces significant partnership with Queensland Ballet

McNab's The Tannery nears 60 per cent sold before public release, sets two-bedroom West End record

Iwan Sunito's vision for a landmark mixed-use precinct in Sydney's Inner West has taken a major step forward, with approval granted for the $1.9 billion Five Dock development first unveiled earlier this year.

The approved scheme by <a href="https://www.apartments.com.au/developers/one-global-capital">One Global Capital</a> will deliver an 80,500 sqm mixed-use precinct comprising 840 apartments, integrated hotel accommodation, commercial and retail space, alongside publicly accessible open space designed to create a new destination for the growing suburb.

"This is a significant milestone for One Global Capital and for the future of housing delivery in Sydney," Sunito said.

"The Housing Delivery Authority was established to identify major housing projects capable of delivering meaningful supply more efficiently, and we are delighted that Spencer Street has been recognised as one of those projects.”

He said the declaration reflected the rapid progress achieved since acquiring control of the site.

"In less than seven months we have progressed from taking control of the site to securing entry into one of the NSW Government's most important planning pathways. It reflects the experience of our team, the strength of our consultant group led by Urbis, and our long-term commitment to delivering transformational projects that contribute to Sydney's future."

When the project was revealed earlier this year, Sunito described the opportunity as one of the strongest development sites he had worked on.

"I probably hadn't appreciated the uniqueness of the site until more recently when putting together the concept plans," Sunito said.

"The proximity to the water, and the golf course opposite, is unlike any other part of Parramatta Road. We have a unique position and view corridors over the water that makes this one of the best sites I've worked on."

The development has evolved since its initial announcement, with the approved plans increasing the residential component from the originally proposed 750 apartments to 840 homes while retaining the project's focus on creating an integrated neighbourhood rather than a standalone residential development.

Read more:&nbsp;<a href="https://www.apartments.com.au/news/nsw/a-city-within-a-city-iwan-sunito-flags-1-5-billion-mixed-use-precinct-in-five-dock">"A city within a city": Iwan Sunito flags $1.5 billion mixed-use precinct in Five Dock</a>

The precinct will combine apartments with hotel accommodation, commercial workplaces, retail offerings and public spaces, creating a mixed-use environment intended to serve both residents and the broader Five Dock community. The proposal also continues the collaboration between One Global Capital and internationally recognised architect <a href="https://www.apartments.com.au/architects/koichi-takada-architects">Koichi Takada</a>, whose previous work with Sunito includes Infinity, Arc and Skye North Sydney.

Takada previously said the design was driven by a philosophy of integrating nature into the built environment.

"The concept for this development is born from our design approach to naturalising architecture," Takada said.

"The public realm benefits from biophilic design that integrates generous landscaping, and the development is optimised for natural daylight, airflow and water views to foster wellbeing, sustainability and spaces that foster community interaction."

Sunito has consistently described the project as a "city within a city", with a strong emphasis on creating a destination that extends beyond housing.

"We want to create a development that's not only to be seen, but to be experienced by the whole local community," he said.

The approval comes as Five Dock continues its transformation ahead of the opening of the Sydney Metro West line, with the new Five Dock station set to significantly improve connections between the Inner West, Parramatta and the Sydney CBD.&nbsp;

The precinct will also benefit from its proximity to the Parramatta Road corridor, nearby waterfront parklands and established retail and dining offerings that have made Five Dock one of Sydney's most tightly held Inner West suburbs.

Iwan Sunito secures approval for $1.9 billion Five Dock mixed-use precinct

Wollongong

Two new mixed-use residential developments are in the pipeline for Wollongong&rsquo;s CBD, continuing the upwards growth in the area.

Local developers, Blaq Projects, are behind one of the lodged development, with plans to construct an 18-storey building at 24-30 Kenny Street.

The $33 million development outlines 68 residential units, along with a 78-room hotel which will feature a range of amenities, including a caf&eacute;, swimming pool and gym.

While the operator for the hotel is yet to be announced, the successful group will manage and operate the hotel alongside Anya Solutions, which is headed by Blaq&#39;s chief financial officer, Sharmen Naidoo.

Designed by Robert Gizzi at Design Workshop Australia - another Wollongong local &ndash; the development application has also included basement level parking for 122 vehicles.

On the northern end of the CBD, a seven-storey residential development has been put forward, with plans to designate the 1889 sqm ground floor as retail space.

81-85 Keira Street will comprise 43 apartments and will feature basement level parking.

Local developers, Blaq Projects, are behind one of the lodged development, with plans to construct an 18-storey building at 24-30 Kenny Street.

alisonwarters@gmail.com

Two new residential offerings added to Wollongong's development pipeline

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Overall retail trading conditions remain challenging for many local traditional shop front businesses, particularly in the Wollongong CBD, according to the latest report from valuation firm Herron Todd White.
The property valuation firm has seen a decline in foot traffic due to the COVID-19 pandemic and associated work from home directives still in place for numerous commercial office tenants.
Suburban retailers, particularly in the food and beverage sector, have seemingly benefited from the change in work patterns, reporting improved customer visits since the April lockdown, while many of the large national bulky goods retailers that have an online ordering system have been reporting strong sales figures.
Despite some serious initial concerns, retail leasing activity has not fallen off a cliff with many landlords still coming to terms with tenants albeit with higher incentives that typically include a rent free or rental discount period over the initial six to 12 month period of the lease term.
The report authors said, "It is our view though that the real test is still to come with many of the government programs and schemes to be wound back over the coming months."
"Sales activity remains at a low level with several sales occurring over the past six months in the sub $1 million range to owner-occupiers and only a couple of retail investment sales in the higher price range."
"Investors during these periods are typically seeking defensive assets with strong long term lease covenants with the market predicting a long period of low inflation," they concluded.
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Local Wollongong retail property is struggling: HTW

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Wollongong’s industrial sector looked set to continue years of buoyant conditions prior to the coronavirus wreaking havoc on the local economy, according to the latest report from valuation firm Herron Todd White.
“Obviously all bets are off at the moment with the market broadly in a freeze as investors, owner-occupiers, developers and tenants for the most part adopt a wait and see approach, needing comfort on the long term economic impact prior to making a buying or leasing decision in this current uncertain environment,” the firm said in their April Month-in-Review.
“Each transaction that takes place during this period needs to be scrutinised heavily as motivations of the participants involved will fluctuate quite significantly. This is not a normal market.”
The firm said they were aware of an industrial property owner very close to retirement who was happy to sell at a circa 10 to15 percent discount on what was fair market value as the risk of holding and waiting for the situation to settle was not worth it for them.
“The purchaser was very happy to acquire at this discount, believing values will return to pre-Coronavirus levels in two to three years time, if not sooner.”
The Commonwealth has released a mandatory code of conduct for commercial tenants with an annual turnover up to $50 million, providing a guideline for those impacted by a downturn in trading.
The report concluded that, despite recent downturn, the medium to long term outlook for the Illawarra industrial sector remains strong.
“The region may well benefit from a lower Australian dollar, repatriation of offshore manufacturing facilities and construction of warehouse facilities to ensure adequate levels of stock are held as insurance for potential future disruptions to the global supply chain.”
The area’s biggest asset as an industrial market are its “proximity to Sydney; construction of the second airport in Western Sydney; expanding Port of Port Kembla; and state government investment in infrastructure, with more likely to follow as part of Commonwealth and state government stimulus measures.”
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How Wollongong’s commercial market has fared during the coronavirus pandemic: HTW

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The industrial sector has been the best performing real estate asset class in the region over the past two years and we expect this performance to continue throughout 2020, according to the February 2020 report from valuation firm Herron Todd White.
The property valuation firm found that the main risk in this sector will be one of overheating.
Most of the activity in the industrial market is being driven by the Port of Port Kembla with logistics a rapidly developing sector particularly in new vehicle transportation.
The very tight supply and escalating values and rents of industrial property throughout Sydney (notably south-western Sydney) is also impacting on the local market given its proximity to Australia’s largest city.
HTW valuers said, "given recent performance, current momentum, interest rate cuts and a strong performing local economy, we expect to see continued downward pressure on investment yields, although the challenge for investors in 2020 will be the availability of assets to purchase."
"Outside of small to medium sized strata warehouses, owner-occupiers may also struggle to find suitable premises and industrial land supply is limited at present."
"For better quality properties where demand exceeds supply, we expect there to be upward pressure being placed on rents and it will be interesting to see where market rents set for tenants who exercise options in 2020, and of course for tenants entering into new lease agreements," they concluded.
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Wollongong industrial property to remain its strongest market in 2020: HTW Industrial

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Overall the Wollongong retail market is headed towards finishing the year as predicted, flat, according to the latest retail report from valuation firm Herron Todd White.
The property valuation firm found that the first half of the year was particularly challenging for retailers due in large part to a stagnant housing market however some hope for a recovery has been provided for the second half of the year and moving into 2020 as the housing market recovers, likely being fuelled by the three interest rate cuts.
It is hoped that these interest rate cuts will stimulate spending in the retail sector.
The report authors stated, "leasing conditions have continued a long term trend of being static given above averagevacancy rates and generally soft demand, while supply continues to be introduced to the market given the large number of mixed-use projects completed in the Wollongong CBD over recent times and with additional projects also being developed at present."
"There is no upward pressure being placed on rental rates with conditions generally favouring tenants," they concluded.
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Hope remains for a Wollongong retail recovery: HTW Retail

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A Wollongong apartment has been re-sold for $5.85 million.
The Illawarra district property had been the most expensive property of 2017 in the region when 11/72 Cliff Road, Wollongong sold for $3,793,000.
The oceanfront penthouse contains four bedrooms and two bathrooms.
It occupies the entire sixth floor of the east tower in the 33-apartment luxury development The Esplanade.
The 11/72 Cliff Road apartment was initially listed off-the-plan for $4.5 million in 2015.
Rob Austin from Harrison Property was the selling agent of both sales.
It has been sold to a Sydney buyer who was from Wollongong.
It has an internal floor space of 275 square metres plus 225 square metres of balconies, a five-car garage and lock-up storage.
The Esplanade is a dual-tower complex built on the former Villa Maria nursing home site.
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Wollongong apartment resold for $5.85 million

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The former Century 21 Wollongong real estate agent Hakan Kutup faced Wollongong Local Court yesterday.
Kutup faced court on fraud allegations.
He has been charged with 27 offences. 
Lake Illawarra detectives, with the assistance of the Office of Fair Trading, commenced an investigation in August into the alleged actions of Kutup.
Hakan Kutup, formerly of Century 21 Ultimate Wollongong, told the local paper, The Illawarra Mercury he would be fighting the charges in September.
Lake Illawarra detectives allege Kutup, 53, made false documents that claimed he had sold numerous properties and as a result would be entitled to the commission.
The alleged false documents included photo-shopped emails and letterheads purported to be made from solicitors and conveyancers located in the Illawarra, police allege.
They also include fabricated contracts of sales, fabricated agency agreement documents, false signatures and false bank deposits for the business that ran out of 4/ 74 Kembla St, Wollongong after being set up in 2009.
The documents were allegedly submitted to Paidonexchange Pty Ltd - a business that, for a fee, provides real estate agents their entitled commissions from the property up front, removing the need for the real estate agent to wait for the settlement.
As a result Kutup "made a total financial advantage of $263,755", police say.
They allege they also uncovered that Kutup misappropriated funds from a sale trust account to the amount of $220,515.
He was charged with 12 forgery offences, 12 fraud offences and three counts of fraudulent conversion of money.
Kutup was granted strict bail. 
The former Wollongong real estate agent, who faced court for the first time yesterday, had been a director at HKJS Holdings Pty Ltd (in liquidation) that formerly traded as Century 21 Ultimate (Wollongong).
In mid 2018 Century 21 removed HKJS of their C21 franchise with liquidation records suggesting the C21! HQ was owed $85,000.
The ATO was owed $185,000.
Kutup had previously worked at Park Trent.
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Former Century 21 Ultimate Wollongong estate agent Hakan Kutup on PaidOneExchange commission fraud charges

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The industrial sector continues to be the most buoyant of the three main commercial property classes, driven primarily by activity surrounding the port of Port Kembla, a profitable BlueScope steelworks, mining activity which has rebounded over more recent times and a strong Sydney industrial market, according to the latest report from Herron Todd White
The property valuation firm found, owner-occupiers and private investors are active while there is also an increased appetite for higher valued assets as illustrated by the June 2019 sale of 1 Darcey Road, Port Kembla to an owneroccupier for $8.6 million plus GST, reflecting rates of $965 per square metre of lettable area and $345 per square metre of improved land area.
Investment sales have been scarce due to the lack of properties available.
Analysed market yields are hovering between six and seven per cent and even lower for sub-$1.5 million properties in industrial precincts near the Wollongong CBD.
The valuers added, "agents are reporting some upward pressure on rents due to limited stock with gross face rents typically ranging from $100 to $150 per square metre and even higher for smaller modern style warehouses."
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Wollongong industrial market remains the most bouyant: HTW Industrial

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Sales transactions in the Wollongong office sector have slowed over the past 12 months mirroring the trend of the broader commercial real estate market across regional New South Wales, according to the latest report from valuation firm Herron Todd White.
The firm's report found, the slowdown is coming at the end of a very buoyant three years where record sales prices were achieved resulting in yield compression across the board.
This is exemplified by the sale of 90 Crown Street, Wollongong in late 2018 for $50.38 million showing an initial passing yield of 7.75% on a WALE of 3.5 years.
Report authors stated, "the slowdown in investment sales over the past year is attributed to several factors including the Banking Royal Commission, state and federal elections, volatility in the global markets, downturn in the housing market and just the normal market cycle."
"There is optimism that recent interest rate cuts will spur activity with most participants keenly watching to see if this will result in further yield compression in the sector or if there will be a more permanent reassessment of risk despite lower borrowing costs."
"During this period of low and reducing interest rates, owner-occupiers have remained relatively active in the sub-$1.5 million price category, however the limited availability of such properties particularly in the Wollongong CBD has seen owneroccupiers look further afield to the region’s other major centres including Corrimal, Fairy Meadow, Dapto and Shellharbour."
"Gross face rents in the Wollongong CBD generally sit in the order of $400 to $450 per square metre for A-grade and $350 to $395 per square metre for better quality B-grade stock in the CBD," the authors concluded.
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Wollongong office market slows after three buoyant years: HTW Commercial

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A former Wollongong real estate agent has been charged with multiple forgery, fraud and misappropriating offences.
Detectives from Lake Illawarra Police District, with the assistance of the Office of Fair Trading, commenced an investigation into the 53-year-old man following a complaint received in relation to the theft of funds.
Police allege between December 2017 and June 2018 the man made and submitted false documents to a business that provides real estate agents their entitled commissions up front.
The false documents included photoshopped emails and letterheads from solicitors and conveyancers located in the Illawarra, fabricated contracts of sales and agency agreements, false bank deposits and false signatures.
The documents were allegedly submitted on more than 12 occasions over the seven-month period, resulting in a financial advantage of $263,755.
The investigation revealed the man had also allegedly misappropriated more than $200,000 in funds from a sales trust account.
The 53-year-old man was arrested at Lake Illawarra Police Station last week.
He was charged with 12 counts of forgery, 12 counts of fraud and three counts of fraudulent conversion of money.
He was granted strict conditional bail and is due to face Wollongong Local Court on 5 November 2019.
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