The Sultan of Brunei has sold a waterfront Surfers Paradise development site, held for almost three decades.

The 7558 square metre block, 3241 Surfers Paradise Boulevard, sold for close to $70 million to an undisclosed Dubai-based luxury apartment developer.

It is the largest single-lot beachfront land sale in Surfers Paradise, according to Colliers’ Steven King and Jackson Robinson.

It is also the second-priciest development site sale on the Gold Coast, they added.

The Sultan acquired the property for $15 million in 1996 through a Brunei-linked corporate structure.

Development at last

L-shaped, also exposed to View Avenue and The Esplanade, the site has predominantly been used as a car park.

In 2012, then Gold Coast Mayor Tom Tate wrote to the Sultan urging him to develop.

Former federal politician Steven Ciobo also suggested the site could accommodate a casino-resort development (continues below).

The holding is one of the Gold Coast’s remaining beachfront development sites, with High Density Residential zoning and unlimited building height under the applicable planning controls.

In 2024, part of the beachfront holding was used for the Imaginator attraction.

Five offers were received following an expressions-of-interest campaign, the agents said.

“The property was ultimately acquired by a major international luxury property developer, underscoring the continued depth of domestic and offshore capital targeting premium Gold Coast development opportunities,” Mr King added.

“This result reinforces the enduring appeal of irreplaceable beachfront development sites and highlights the strength of demand for large-scale opportunities across South East Queensland,” according to the executive.

“Several underbidders from the campaign remain active in the market and are actively seeking comparable acquisitions””.

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Australia Post has sold another property, this time in Sydney’s south.

Offered with vacant possesssion, the depot at 25-27 Koonya Circuit, Caringbah, is speculated to be trading for nearly $10 million.

On 2502 square metres zoned E3 Productivity Support, it was marketed for its development upside with a building up to 16 metres tall, with a 1.5:1 floor-space-ratio, able to be considered.

Abutting the Caringbah Homemaker Centre, opposite a Bunnings, in an established showroom precinct, the block also contains 21 car parks.

A 1531 sqm split-level office/warehouse abuts the southern boundary.

Property rationalisation

The deal comes months after Australia Post listed a $400 million-plus portfolio of logistics facilities with leasebacks – many which have found buyers.

In Brisbane, a Northgate distribution centre sold to Pittwater Industrial for $48.4m while a Darra facility was acquired by Charter Hall for $70.2m (continues below).

Australia Post marketed a portfolio of logistics facilities worth more than $400 million earlier this year, largely through sale-and-leaseback transactions.

A Northgate distribution centre in Brisbane sold to Pittwater Industrial for $48.4 million, while Charter Hall acquired a Darra facility for $70.2 million.

On the Gold Coast, Boldstone bought a Bundall complex for c$29.6m .

Australia Post has also shed several Adelaide distribution properties, including neighbouring Wingfield holdings for a combined $16.6 million. .

The Caringbah property was marketed to developers and owner-occupiers.

Stonebridge Property Group’s Lincoln Blackledge, Steve James and Spero Xenos were the agents.

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David Jones will close 19 stores across Australia and New Zealand – receivers halving the department chain’s retail footprint.

Seven are in New South Wales: Green Hills, Hornsby, Macarthur Square, Macquarie Centre, Parramatta, Warringah Mall and Wollongong Central.

Three will shut in Victoria, at Glen Waverley, Highpoint and Malvern Central.

Another trio will also close in Western Australia (Carousel, Garden City and Hay Street Mall), while two will cease trading in Queensland (Robina Town Centre on the Gold Coast and the Sunshine Plaza) and South Australia (Marion and West Lakes).

The Woden, Canberra and Newmarket, Auckland, outlets, round out the closures, expected to take effect at the end of the year; the stores will continue trading for now with some stocking up ahead of an expected Christmas rush.

FTI Consulting’s Christopher Hill, David McGrath and Joanne Dunn were appointed receivers of David Jones’ parent company, ACP Riley Street Midco Pty Ltd, following the retailer’s entry into voluntary administration last week.

The restructure puts c6000 jobs at risk – full and part time staff and concession workers employed by third-party brands operating within stores.

Shrink or sink

The receivers said the store reductions were necessary to give the retailer a viable future.

The closures follow negotiations with landlords over rent relief and a smaller network (continues below).

Scentre Group, which operates Westfield shopping centres, was among the landlords involved in discussions. It said prior to that, last week, the retailer refused a “generous” offer to continue trading through the busy Christmas period.

David Jones’ future footprint depends partly on reaching revised lease arrangements.

Founded in 1838 and considered Australia’s oldest retailer, the business was acquired by South Africa’s Woolworths Holdings for about $2.1 billion in 2014 before being sold to private equity firm Anchorage Capital Partners for about $100 million in 2023.

A bulk of the valuable real estate associated with the business was sold down during that time, including the Castlereagh St, Sydney, store, which Charter Hall bought for $510m with a 20-year leaseback in 2020.

The Bourke Street Mall flagship was also sold, in late 2024, for $223.5m with a leaseback.

IP Generation, now part of MA Financial, was that buyer.

The ex-menswear store opposite that traded, six years ago, to Newmark Capital, and has now been repurposed with a Mecca store and offices.

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OzProp has sold a Brisbane medical and allied health investment, with a federal government-backed office, held 12 years.

The Gold Coast-based fund manager banked $10.57 million for 279-287 Oxley Avenue, Margate.

It paid $6.5m through the OzProp MM Trust.

The on sale was struck at a 6.59 per cent net passing yield.

The buyer is Annerley Group, headquartered in Sydney’s Martin Place.

Stonebridge Property Group’s Harrison Coburn, Michael Collins, Thomas Proberts and Aike Sakeson brokered the off-market deal.

Redcliffe Peninsula investment

On 3240 square metres at the north-west corner of Keenan St, the asset, also known as the Margate Medical Centre, contains tenancies for Imaging Queensland, a subsidiary of ASX-listed Integral Diagnostics, and a Smiles dentist.

Offices are occupied by Centrelink and employment services provider atWork Australia.

All up there is 1147 sqm of lettable area over two floors.

The weighted average lease expiry is 1.9 years (continues below).

There are also 46 car parks.

Margate is about 25 kilometres north of Brisbane’s CBD.

Exposed site

The short lease profile gives Annerley scope to renegotiate tenancies.

On two-titles, the investment could also be sold down.

Annerley Group co-founder and chief investment officer Jay Anderson said the property’s location, existing healthcare services and parking were among its attractions.

The District Centre zoned holding also has development upside – up to 12 metres – opposite the Woolworths-anchored Margate Village Shopping Centre, where it is passed by some 12,900 vehicles a day.

Redcliffe Hospital is also close.

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Deutsche Asset Management has struck a deal with developer FYVE for a landmark 414-unit build-to-rent tower in Sydney, marking its entry into Australia’s residential rental market.

Construction contractor Binah is also part of the consortium to build the 34-level tower at 22-26 Elizabeth Street in the Western Sydney Centre.

Planning approval is expected next year.

Deutsche Asset Management, formerly known as DWS Group, made the deal on behalf of one of its real estate funds.

The proposed tower, which would become Liverpool’s tallest building, will also include a gym and rooftop amenities.

Liverpool’s tallest building

FYVE managing director Amen Zoabi with business partner, Khalil Hafza, acquired the 1.2 hectare Liverpool site for c$8 million in 2014.

The Sydney-based executive later planned a mixed-use project branded The Liverpool (artist’s impression, top) with 193 build-to-sell apartments, a 93-room hotel and about 6500 sqm of commercial space (continues below).

He said the Deutsche Asset Management deal cements the group’s standing with institutional investors.

First Australian project

The BTR investment will target middle-income households, particularly essential workers, with relatively affordable rental accommodation.

Deutsche Asset Management’s head of real estate for Australia, Ben Taylor, added the project aligned with its strategy to target the undersupplied mid-market rental sector.

Mr Taylor was appointed to lead the group’s Australian real estate business in February.

The Germany-based investment manager has an established residential platform across Europe and North America, with more than 46,000 units and $22 billion in residential assets as at March 2026.

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Brookfield is buying a south-west Sydney distribution centre that Goodman progressively developed and expanded around occupier Mainfreight over more than two decades.

The 45,780 sqm facility covering 8.5 hectares at 30-50 Yarrawa Street, Prestons, is changing hands for $203.5 million.

Colliers’ Trent Gallagher brokered the off-market deal.

Goodman acquired the first part of the holding in 2005 for $24.8m as Liverpool City Council moved to rezone the surrounding area from rural to industrial use.

Mainfreight pre-committed in 2007, initially occupying two warehouses with a combined 20,510 sqm, with two offices, surrounded by a weighbridge, covered truckwash, refuelling facilities and hardstand.

The year later, the warehouse was extended 7574 sqm.

Goodman expanded onto adjoining land at 30-40 Yarrawa Street in 2012-13, adding 13,250 sqm of warehouse floorspace, a 1710 sqm loading dock extension, hardstand and office facilities.

The estimated cost was $12.5m.

The expansion allowed Mainfreight to consolidate its Moorebank warehousing operations at Prestons.

Part of an established industrial precinct with access to the M7 and M5 Motorways, the Hume Highway, Camden Valley Drive, Cowpasture Road and Hoxton Park, the property was offered with a lease expiring in May, 2029 (the weighted average lease expiry is 2.6 years) with a six year option (continues below).

“The combination of scale, a global logistics occupier, a substantial underlying landholding and rental reversion made this a compelling asset for a long-term logistics investor,” Mr Gallagher said.

BKC to become manager

Brookfield is expected to settle on the fully-leased investment this month.

Co-Head of Real Estate in Australia Ruban Kaneshamoorthy said the acquisition would strengthen the group’s Australian logistics portfolio.

BKC will act as Brookfield’s operating partner and manage the property, he added.

It also manages the New York-based landlord’s Laverton logistics asset in Melbourne.

With the acquisition, the company’s Australian logistics platform has a completed value of about $3 billion.

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The 7297 square metre holding at 149 Queensport Road South, Murarrie, fetched $11.5 million with vacant possession.

Zoned General Industry A, also exposed to Alexandra Place, the site contains extensive hardstand and a car park.

An office/warehouse spans 2200 sqm.

End of an era

The property was offered by interests associated with former occupier, drum reconditioning, recycling and waste-management business Brisbane Drum Exchange (continues below).

Chase Commercial’s Oliver Gardiner was the agent.

Eleven offers came in following a five-week expressions-of-interest campaign earlier this year.

Murarrie, part of Brisbane’s Australia TradeCoast precinct, is about 11 kilometres east of Brisbane’s CBD.

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A Melbourne development manager who has worked across apartments, hotels, shopping centres and infrastructure projects has launched a software platform aimed at changing how property developers prepare and manage project feasibilities.

Brenton van der Scheer, who has spent about 15 years working across construction and development, including with Fulton Hogan, Hutchinson Builders and V-Leader, developed Feaso Cloud after repeatedly encountering problems with spreadsheet-based feasibility models.

The browser-based platform brings a project’s development program, revenue, costs and debt into one model, with the ability to save scenarios, track changes and produce reports for investors and lenders.

Feasibility underpins decisions

For developers, feasibilities underpin decisions on land acquisitions, project funding, construction costs and expected returns.

But models can become complex as projects evolve, particularly when multiple versions are circulated between development managers, analysts and external stakeholders.

Mr van der Scheer said errors in feasibility models could remain undetected long after the original assumptions were entered.

“On a building site, if the drawings are wrong, someone finds out fast,” he added.

“With a feasibility, you can carry a broken formula or double-counted revenue for years and not find out until you’re deep into delivery,” according to the executive.

The civil engineer began his career with Fulton Hogan on the M80 freeway upgrade before moving into client-side project management with APP Corporation.

He subsequently spent six years as a lead contract administrator with Hutchinson Builders and Hickory before moving into development management in 2022.

His experience has covered apartments, purpose-built student accommodation, luxury hotels, shopping centres and aquatic centres, as well as smaller commercial projects.

“I’ve had a very non-traditional career path, and as a result I’ve worked across a variety of asset classes: apartments, PBSA, luxury hotels, shopping centres, aquatic centres and even a servo” he said.

Mr van der Scheer has also worked with private developer V-Leader, active in Melbourne’s CBD and fringe.

Bringing development assumptions into one model

Feaso Cloud is designed to consolidate a project’s financial and development assumptions rather than rely on multiple linked spreadsheets and separately saved versions.

Users can establish organisational calculation methods, with deviations recorded in feasibility summary reports intended for lenders and investors.

The system also allows users to produce branded reports or share read-only interactive versions with external parties.

Mr van der Scheer said traditional feasibility models could become difficult to manage as they grew in size and complexity (continues below).

“The incumbent software is basically a glorified spreadsheet, and like any spreadsheet, you’re at the mercy of the user,” he added.

“These models can grow so large and complicated, with links all over the place, that the learning curve is steep,” according to the executive.

“They often end up used only by a professional analyst”.

The platform’s version-control functionality records who has changed project assumptions, while saved scenarios allow development managers to compare different project outcomes without losing previous iterations.

Organisations can also establish preferred calculation methods, providing a consistent approach across projects and development teams.

Mr van der Scheer said his engineering background had influenced the emphasis on standardisation and repeatable processes.

“I like good systems, and I’m always asking myself how something can be standardised and scaled for quality across an organisation,” he said.

Beyond apartment development

A key consideration in developing the platform was making it applicable across different property sectors and development structures.

Mr van der Scheer said many existing solutions were focused on build-to-sell apartment projects, limiting their usefulness across other asset classes.

“A lot of other solutions are very focused on build-to-sell apartments,” according to the executive.

“I wanted something robust that I could use for any asset class,” he added.

Feaso Cloud covers Australia’s states and territories and is hosted on Australian servers, according to the company.

Launched this month, it is expected to be used by developers, financiers and investors.

“I want developers, lenders and investors to be able to trust the same feasibility,” he said.

“That’s the change this industry needs”.

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Hamton and Hostplus have been given the green light to build three towers at the north-east tip of the Moonee Valley Racecourse, abutting CityLink and the Brunswick West border.

To be known as Trackside Gardens, the complex (artist’s impression, top) will occupy an 8475 square metre site to be known as 110 Wilson Street, Moonee Ponds.

The $323 million development comprises towers of 16, 21 and 23 storeys, designed by DKO Architects with landscaping by Tract.

The tallest, Track East, will rise 86 metres.

Track Central will reach 69.5m.

Wilson East is slightly shorter, at 62m.

The three buildings will contain 539 apartments, comprising a mix of one, two and three-bedroom configurations.

Moonee Ponds is six kilometres north-west of Melbourne’s CBD.

The approval comes three weeks since realestatesource.com.au reported the state government awarded Hamton and Hostplus a $7 billion contract to develop Arden on surplus rail land in the inner north-west.

Trackside Gardens

108 of the dwellings will be affordable housing, all in the 185-apartment Wilson East.

The development also includes 518 basement car spaces, 545 bicycle spaces, communal open space and landscaping.

The planning application initially proposed 512 apartments, but the approved scheme increased the yield to 539, including an increase in Wilson East from 152 to 185 apartments

A community housing provider will operate those apartments.

The approval was granted under Victoria’s state-level planning pathway for major residential developments, just before the government went into caretaker mode.

Three objections were lodged; concerns included building bulk, traffic, parking and the effects of CityLink noise.

The development will incorporate landscaped communal areas, rooftop spaces and vertical greenery. The planning scheme targets a five-star Green Star Buildings rating and an average NatHERS rating of 7.5 stars.

Moonee Valley Park taking shape

Trackside Gardens is being delivered through a partnership between Hamton, Hostplus and the Moonee Valley Racing Club, which owns the racecourse land and is undertaking a separate reconstruction of the racing facilities.

The residential and mixed-use masterplan, known as Moonee Valley Park, is a $3.5 billion redevelopment of the 40ha racecourse holding.

Earlier masterplan material envisaged about 2000 homes, although the racecourse’s current website now refers to approximately 3000.

About half the area (20ha) is earmarked for green open space, including landscaped parkland, walking and running tracks, playgrounds and sporting facilities.

A grandstand will be developed along Wilson St, capturing Melbourne CBD views, opposite Moonee Ponds Primary School. An adjoining oval is expected to provide car parking for night and weekend race meets.

The racecourse infield, an approximately 8.5ha area, is also being considered for greater community and recreational use including with sporting facilities, walking paths, playgrounds and event space (continues below).

Major redevelopment

Permits have been issued in stages to develop surplus land around the revised racecourse.

The first phase, for 67 townhouses known as Feehan Row, was approved in October 2018.

An apartment building fronting Thomas Street followed in April 2019, while Stonepine House was approved in August 2021, followed by Trackside House in March 2022.

Stonepine House and Trackside House each rise 11 storeys, the latter with racecourse and city views that can’t be built out.

Combined, they contain 330 apartments, including 202 in Trackside House, which also has seven commercial tenancies.

The two buildings were completed in November 2025, alongside internal roads.

Hamton is also marketing The Eveline, a two-building apartment project comprising 396 homes and two commercial tenancies.

Designed by Cera Stribley with landscaping by Tract, it is being promoted around views of the city, surrounding parkland and racetrack.

The Eveline was approved in May 2024, initially under the Flora East and West names.

It forms another stage of Moonee Valley Park, with construction expected to follow demolition of the former grandstand.

Hamton says five completed residential stages have delivered a total of 479 residences.

Cox Plate precinct to come

A separate five-building development, known as Cox Place, was approved in October 2025 on the former grandstand site.

The $709m project will contain 1092 apartments in four buildings, including more than 500 build-to-rent homes.

A 184-room hotel also forms part of the design as does 3000 sqm of retail and office space.

The scheme also includes an extension of Tote Park, a pedestrian link to the racecourse infield and a pocket park at the corner of Dean St and Feehan Ave.

The residential development is being undertaken on surplus racecourse land, with proceeds from the staged release helping fund the racing club’s track and facilities reconstruction

Moonee Valley Racing Club has been rebuilding and realigning the track following the November 2025 Cox Plate carnival.

Civil works include a new underpass and associated hydraulic and electrical infrastructure, ahead of new turf being established.

A new road connecting Thomas and Dean streets, running parallel to the new racetrack, has been under construction this year.

The racecourse is scheduled to reopen for racing in spring 2027.

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Hilton will enter Canberra for the first time, securing a franchise agreement for a 184-room hotel being developed by the Liangis family.

Hilton Canberra Manuka is expected to open in early 2027 at 15–17 Franklin Street, opposite Manuka Oval.

The venue will operate under a franchise agreement with Australian property group ICC Development Group, led by chief executive Harrold Dakin.

The signing brings Hilton’s flagship Hilton Hotels & Resorts brand to the national capital.

Hilton, Liangis family strike deal

The hotel will include 184 rooms with eight large suites and standard accommodation ranging from 32 to 45 square metres.

Facilities will include an all-day dining restaurant and bar, executive lounge, swimming pool, sauna and fitness and wellness areas.

A ballroom and a separate multifunction space, divisible into four rooms, will cater to conferences, weddings and private functions.

The project will also include ground-level retail, additional dining venues and a five-screen cinema.

“The signing of Hilton Canberra Manuka represents an important milestone in Hilton’s growth across Australasia and brings our flagship brand to Australia’s national capital,” Hilton Australasia director of development Tushar Raniga said (continues below).

Former Capitol Theatre site

The hotel forms part of a long-running redevelopment of the Manuka precinct by the Liangis family.

The Franklin Street site includes the former Capitol Theatre, which closed in 2020 before being demolished to make way for the next stage of the project.

The redevelopment was approved in 2021.

Planning amendments and disputes over lease variation charges delayed the second stage, with the cinema component subsequently reduced.

The new hotel will be part of Hilton Honors, the group’s loyalty program.

Manuka is about 1.5 kilometres from Canberra Railway Station and seven kilometres from Canberra Airport.

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