An entity directed by HSN's Rafi Assouline and Rebel Property's Allen Linz has filed plans for an impressive new precinct in Woolloomooloo.

The major mixed-use development would transform a prominent William Street site into a new residential village anchored by affordable housing and a large public park.

The proposal, submitted as a State Significant Development Application, covers 164-172 and 174-194 William Street, a 6,398 sqm site between Forbes Street and Dowling Street on the southern edge of Woolloomooloo.

Designed by fjcstudio in collaboration with Bangawarra, Studio Bright and Tribe Studio Architects, the scheme would deliver 227 apartments across four residential buildings ranging in height up to 18 storeys, alongside retail space, public domain improvements and a new publicly accessible park.

<img alt="Rebel" data-entity-type="file" data-entity-uuid="0eb59b7c-914a-4a5c-b849-3a56749f5e93" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-06-12%20at%2011.18.51%E2%80%AFAM.png?VersionId=mxM6EEqeoLjrCiTlCzTKTvzpKuh6kSkH" />

It's another design scheme for Rebel, who took <a href="https://www.apartments.com.au/news/nsw/first-look-rebel-property-group-takes-woolloomooloo-precinct-to-nsw-government">concept plans to the NSW Gov late last year</a>.

The latest plans will be a mix of 167 build-to-sell apartments and 60 affordable apartments, with the affordable housing component representing 15 per cent of the project's gross floor area. The apartment mix includes 12 one-bedroom, 53 two-bedroom, 89 three-bedroom apartments and 13 penthouses, while the affordable housing component would comprise 42 one-bedroom and 18 two-bedroom apartments.

<img alt="Rebel" data-entity-type="file" data-entity-uuid="3b3d4553-8a8c-4af5-aa8c-519ffb1e28c6" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-06-12%20at%2011.20.12%E2%80%AFAM.png?VersionId=_Yb6ibN7eDnOtQjCNDK2eviORa4qzgv." />

Rebel Property is seeking to take advantage of the NSW Government's infill affordable housing bonus provisions under the Housing SEPP, which provide additional floor space and height in exchange for the delivery of affordable housing for a minimum of 15 years. The planning pathway allows a 30 per cent increase in floor space ratio and building height where 15 per cent of the development is dedicated to affordable housing.

&nbsp;

At the centre of the development is a 1,356 sqm sunlit public park designed to become a new community gathering space at the gateway to Woolloomooloo. The park would be complemented by a network of pedestrian laneways connecting William Street with the surrounding streets, improving permeability through what is currently a largely impermeable block.

<img alt="Rebel" data-entity-type="file" data-entity-uuid="257af931-a393-4007-8c6d-7219796df58d" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-06-12%20at%2011.20.51%E2%80%AFAM.png?VersionId=KAHy94GrhaReFsWTGDKfy39EDJ8gEEv4" />

The design team says the public domain has been heavily influenced by the site's topography and Aboriginal cultural heritage, drawing on the escarpments, gullies and landscape characteristics that historically defined the area before urbanisation. The landscape design has been developed in partnership with First Nations consultancy Bangawarra.

The project would be delivered across four separate buildings. The William Street East and William Street West buildings, designed by fjcstudio, would contain the majority of the apartments. Melbourne-based Studio Bright has designed the Forbes Street building, while Tribe Studio Architects is responsible for the Dowling Street building.

Rebel had secured approval for the concept plans late last year.

Joel Robinson

First look: HSN, Rebel, advances Woolloomooloo precinct plans

A locally heritage-listed furniture showroom on Water Street is set to become the centrepiece of a new mixed-use residential development as local developer&nbsp;<a href="https://www.apartments.com.au/developers/keylin-group">Keylin</a> seeks approval for <a href="https://www.apartments.com.au/new-apartments/lotus-on-water-street-290-water-street-fortitude-valley-qld-4006">Lotus on Water Street</a>, a 15-storey project on the Fortitude Valley side of Spring Hill.

The proposal spans 290 Water Street and 137-141 Warry Street, combining several properties into a 2,869 sqm site that sits between Fortitude Valley, Spring Hill and the rapidly evolving Victoria Park precinct. Keylin's plans would deliver 132 apartments alongside new retail, hospitality and commercial space, while retaining and repurposing the historic Brunswick Home Furnishers Showroom that fronts Water Street.

Designed by <a href="https://www.apartments.com.au/architects/jackson-teece">Jackson Teece</a>, Lotus on Water Street comprises a 12-storey residential tower rising above a three-storey podium and communal rooftop terrace. The development includes 76 apartments classified as multiple dwellings and a further 56 units proposed as short-term accommodation, designed to be flexibly used as either accommodation or permanent residences. The apartment mix comprises six one-bedroom, 54 two-bedroom and 16 three-bedroom homes.

<img alt="First look: Keylin unveils heritage-led Lotus on Water Street tower in Fortitude Valley" data-entity-type="file" data-entity-uuid="9822bb79-6c49-49c9-95ba-319e8c8d81c3" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/fortitude%20valley%20front.png?VersionId=ioW8zbN4UVebbLetTFuv92t.HkdgfR5e" />

Residents would have access to an extensive rooftop recreation level spanning more than 1,200 sqm of communal open space. Plans include a pool, gym, sauna, infrared sauna, yoga area, library, private dining room, barbecue facilities and landscaped entertainment spaces, making the rooftop the project's largest shared amenity offering.

At street level, the proposal focuses on the adaptive reuse of the heritage buildings along Water Street, where 518 sqm of retail and commercial space is planned across shop, office and food and drink outlet uses. A permeable residential lobby would be positioned between the retained heritage buildings, creating a pedestrian connection between the historic streetscape and the new tower behind.

<img alt="First look: Keylin unveils heritage-led Lotus on Water Street tower in Fortitude Valley" data-entity-type="file" data-entity-uuid="269cf3e0-7d13-48bf-a318-05a00deb5c10" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/fortitude%20valley%20podium.png?VersionId=DLXmTCLsp6GOcLpQ0h.0z7wKCw59EhN_" />

The heritage retention strategy is central to the scheme. The development application notes that the Brunswick Home Furnishers Showroom and adjoining heritage buildings will remain, with only non-significant structures on the site earmarked for removal under a previously issued Heritage Exemption Certificate. Levels one and two of the new podium are recessed behind the heritage façades to maintain their prominence within the streetscape.

Jackson Teece has drawn inspiration from the site's manufacturing history when designing the podium. The planning documents state that the façade incorporates perforated metal screening that references the woven and rattan furniture historically produced on the site. Cascading and climbing plants are integrated throughout the podium to soften the building's presentation and screen parking levels behind. The landscape strategy also informs the project's name, Lotus on Water Street, drawing on the historic Spring Hollow waterholes that once ran through Spring Hill and the blue water lilies associated with Meeanjin, Brisbane's traditional name.

The proposal also incorporates the neighbouring property at 141 Warry Street, currently occupied by a healthcare service. The existing building would remain, with nine dedicated parking spaces allocated within the new development to support its ongoing operation. In total, Lotus on Water Street proposes 117 car spaces, including 110 resident spaces and seven visitor bays, alongside 100 bicycle spaces.

<img alt="First look: Keylin unveils heritage-led Lotus on Water Street tower in Fortitude Valley" data-entity-type="file" data-entity-uuid="70cf07bc-4fd8-4e70-92dd-be8b21c4e4f0" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/fortitude%20valley%20site.png?VersionId=txlxrJImM0Sm_vTzHVKh5DDUkyL_CiiA" />

The site sits within the Spring Hill East Precinct of the Spring Hill Neighbourhood Plan and is positioned around 650 metres from both Fortitude Valley Station and Exhibition Station. It is also within walking distance of the King Street precinct, Royal Brisbane and Women's Hospital, Herston Quarter and Victoria Park, which is earmarked to become a major venue precinct ahead of the Brisbane 2032 Olympic and Paralympic Games.

Planning documents describe the location as a key gateway between Spring Hill and Fortitude Valley and highlight the area's increasing importance as new transport infrastructure and Olympic-related investment reshape Brisbane's inner north. The development team argues the project will contribute additional housing supply while activating a section of Water Street that has historically received less investment than other parts of the Valley.

Keylin has become increasingly active across Brisbane and southeast Queensland, assembling sites in strategic inner-city locations. They are currently selling and delivering <a href="https://www.apartments.com.au/new-apartments/oria-spring-hill-447-gregory-terrace-spring-hill-qld-4000">Oria Spring Hill</a>, just over 140 apartments due for completion in 2027.

Keylin plans heritage-led Lotus on Water Street apartment development in Fortitude Valley

Roseville is poised for a wave of new apartment development following the NSW Government's rezoning of land around Roseville Station under its Transport Oriented Development program.

The new planning controls have unlocked significant development potential within walking distance of the station, with a number of sites expected to be amalgamated and redeveloped in the coming years as developers seek to take advantage of the increased density allowances.

One of the more restrained developments in the precinct, and set among the first to be delivered having commenced well before the recent changes, is Hyecorp's Juliet. The boutique apartment project is already well under construction and remains on track to welcome residents by the end of the year, offering a markedly different proposition to many of the larger-scale developments now likely to emerge across the suburb.

[smartcode_project:default project_id=7395 project_image_fid=278194]

<a href="https://www.apartments.com.au/new-apartments/juliet-roseville-64-pacific-highway-roseville-nsw-2069">Juliet</a> will comprise just&nbsp;34 one-, two-, and three-bedroom apartments opposite Roseville Station. For Hyecorp, which has delivered projects across Sydney's Lower North Shore for more than three decades, Roseville presented a rare opportunity to address a growing gap in the market.

"<a href="https://www.apartments.com.au/developments/roseville-nsw-2069">Roseville</a> has long been one of the North Shore's most tightly held and desirable suburbs, offering a unique combination of village charm, established greenery, excellent transport connections, and proximity to some of Sydney's best schools and lifestyle amenities," Hyecorp said.

"We recognised a growing demand from local homeowners seeking to downsize without leaving the community they have built their lives around. The location presented a rare opportunity to create homes that cater specifically to that buyer profile."

[smartcode_project:default project_id=7395 project_image_fid=278196]

The six-level development has been designed by <a href="https://www.apartments.com.au/architects/pbd-architects">PBD Architects</a> as a collection of residences that feel more like homes than apartments. The brief centred generous floorplans, abundant natural light, quality finishes, and strong connections to outdoor space.

PBD Architects drew inspiration from Roseville's established garden suburb character, creating a building that sits comfortably within its surroundings rather than dominating them. The architecture incorporates natural materials, soft forms, layered landscaping, expansive balconies, and generous setbacks to strengthen the connection between residents and the suburb's leafy environment.

"The focus was on designing spacious, house-like residences for discerning owner-occupiers and downsizers who wanted to remain on the North Shore without compromising on comfort, privacy, or design," PBD said.&nbsp;

"Every apartment was to feel considered, timeless, and highly functional."

[smartcode_project:default project_id=7395 project_image_fid=278195]

Inside, residences feature engineered timber flooring, stone kitchen benchtops and splashbacks, integrated Fisher &amp; Paykel appliances, ducted air conditioning, and large outdoor entertaining areas designed to take advantage of district and treetop views.

Residents will also have access to a rooftop barbecue and lounge area, alongside practical amenities including parcel lockers, EV charging capability, bicycle storage, a dog wash bay, and a basement car wash facility.

The majority of purchasers so far have been local owner-occupiers from Roseville, Lindfield, Chatswood, Killara, and the broader Upper North Shore, many of whom are transitioning from larger family homes.

"Buyers are looking for spacious, house-like apartments that allow them to downsize without feeling like they are sacrificing comfort or functionality," Hyecorp noted.

"They value large kitchens, generous living areas, ample storage, quality finishes, secure parking, lift access, and low-maintenance living."

[smartcode_project:default project_id=7395 project_image_fid=278204]

Juliet sits directly opposite Roseville Train Station and within walking distance of Roseville Village, while Chatswood's retail and dining precinct is only minutes away. The development is also surrounded by some of Sydney's most established schools, including Roseville College, Ravenswood, Pymble Ladies' College, and Knox Grammar, as well as nearby parklands and golf courses.

Juliet is currently more than 75 per cent sold ahead of its anticipated completion in late 2026.

[smartcode_project_cta:default project_id=7395]

Juliet to sit quietly amid Roseville apartment boom

Sherpa Property Group has unveiled the third instalment of its Flourish series, securing full approval for the two-tower, $500 million Flourish Soleira development in Palm Beach.

<a href="https://www.apartments.com.au/new-apartments/flourish-soleira-1150-1154-gold-coast-highway-palm-beach-qld-4221">Flourish Soleira</a> will rise from a prominent site in the commercial heart of Palm Beach, the long-time home of Cash Converters and a range of local retailers.

The project will introduce a new retail and dining precinct at ground level, beneath 286 apartments.

[smartcode_project:default project_id=150017 project_image_fid=370959]

“We’re very committed to not only providing affordable residential offerings that are much needed in Palm Beach, but also delivering a vibrant new commercial heart that complements the extraordinary growth of the southern Gold Coast,” Sherpa Property Group founder Christie Leet said.

The development will sit under Sherpa's Flourish brand, which is aimed at providing a pathway into the beachside suburb for locals, first-home buyers and downsizers. In a move designed to assist first-home buyers entering the market, Sherpa has reserved all one and two-bedroom, one-bathroom apartments exclusively for eligible first-home buyers.

[smartcode_project:default project_id=150017 project_image_fid=370964]

“Our vision through Flourish is to create a vibrant retail and lifestyle focal point within the Palm Beach centre zone, delivering thriving communities underpinned by lifestyle-rich locations,” Leet said.

“So far, Flourish has been an incredible success, and we hope to carry this momentum as we progress the next two Flourish projects in Palm Beach.”

[smartcode_project:default project_id=150017 project_image_fid=371430]

Located across 1150-1164 Gold Coast Highway and 3 Sixth Avenue, the development will comprise two towers. The northern tower will deliver 154 apartments, while the southern tower will add a further 132 residences, helping address ongoing demand for new apartments in the tightly held coastal suburb.

Flourish Soleira will also feature the most extensive rooftop amenity offering ever delivered in Palm Beach.

The two towers will be connected by a skybridge, with residents gaining access to a rooftop recreation deck featuring a full-width swimming pool, hot and cold plunge pools, wellness spaces, a gymnasium, private dining facilities, massage treatment rooms, barbecue areas, a basketball court, golf simulator, indoor and outdoor dining spaces, sun lounges and extensive landscaping.

LPS Group is expected to start construction later this year.

Sherpa is already well advanced on construction of its debut Flourish project, Flourish Amargo, located just around the corner from Soleira. Meanwhile, Flourish Oasis, positioned opposite Amargo, recently commenced construction and has nearly sold out its collection of 47 apartments.

[smartcode_project_cta:default project_id=150017]

Sherpa unveils $500m mixed-use Palm Beach precinct, Flourish Soleira

Are mortgage holders set to get a reprieve from the RBA in 2026?

Big Four bank NAB believes so. They are now expecting the next move from the RBA to be a cut, rather than a hike, which they had pencilled in for August. They are unsure of the timing of the cut however, they note in their latest&nbsp;NAB Economics RBA Watch.

NAB Chief Economist, Dr Sally Auld, said recent data suggests the economy has lost momentum and the outlook for rates has shifted, noting that the broader economic backdrop has changed since earlier in the year.

“The next move in the cash rate is likely to be down, but the timing is uncertain," Dr Auld said.

"In February, growth was above trend, the economy was operating above capacity and there was uncertainty over the restrictiveness of rates. None of these conditions exist today,” she outlined.

Dr Auld said recent data pointed to softer momentum across the economy while acknowledging that at the same time, uncertainty remains a key feature of the outlook.

“Both Q1 GDP data and the NAB business survey suggest momentum in the economy has slowed, meaning that growth has likely peaked for the cycle. That said, we are cognisant there is still considerable uncertainty around the outlook, both with respect to activity and inflation.”

Dr Auld said inflation risks and labour market outcomes would be important to watch.

“On the prices side, we are still forecasting above target core inflation through to mid-2027. Margins will compress and weaker labour market outcomes are a risk.”

She said tighter financial conditions are expected to weigh on housing and activity.

“Tighter financial conditions will be reflected in a slowing in house price growth and housing credit growth. In summary, we have greater conviction that the next move in rates is down, but less conviction on the timing.”

Mortgage relief? NAB forecasts RBA rate cut, not hike, after softer economic conditions

Bunnings

<html><body>
A modern Bunnings anchored retail complex in Norman Gardens, near Rockhampton, has hit the market through Savills.
Bunnings only moved into the <a href="http://commercialpropertysearch.savills.com.au/7972985e-4a71-e911-80d9-005056813885/Sale/Norman-Gardens/540-Yaamba-Rd" target="_blank">Yaamba Road property</a> in 2017. It is better known as being the old Masters Home Improvements site.
The 2013 developed complex has a long lease to Bunnings until 2030 with options to 2078.
Bunnings occupy over 76% of gross lettable area.
It is the only Bunnings in the area supported by a freestanding retail building which is currently tenanted to Autobarn, Freddy's Fishing World &amp; Outdoors and Petstock.
The whole complex fully tenanted brings in over $2.6 million per annum.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2019/6/19/Bunnings1.jpg" alt="">
There are 448 car parking spaces on the property, 108 under shade sails.
It is located seven kilometres from the Rockhampton CBD and sees 25,900 vehicles pass daily, around 9.4 million annually.
Savills agents Peter and Jon Tyson have the listing. 
The Tysons sold <a href="/expert-insights/investing/former-bunnings-rockhampton-warehouse-up-for-grabs-after-relocation">Bunnings' former premises down the street</a> just last year.
The 7,660 square metre building was sold for nearly $39 million.
It was sold in August 2018 and is now known as Red Hill Homemaker Centre which comprises over 25 retailers and a 500 space car park.
The likes of Harvey Norman, The Good Guys, Australia Post and Intersport have all moved in to the building, with tenancies still available through Knight Frank Rockhampton.
“The building would be readily adapted for reuse, with options including certain retail, large format retail or bulky goods uses, vehicle and outdoor sales, industry and self-storage uses," Tyson said before its sale.
</body></html>

jonathanchancellor-7SQnKwU6yx

New Norman Gardens Bunnings building to be sold

<html><body>
A Port Macquarie shopping centre, anchored by a Bunnings Warehouse, has bought by MPG Funds Management Limited for $44.65 million in an off-market transaction.
The centre is currently under construction with an expected completion date of Q1 2019.
The new Bunnings store will be over 18,000 square metre and be supported by an additional 2,400 square metres of large format retail.
James Wilson, national director of Colliers International’s NSW retail investment services business, said the sale represented a blended yield of 5.64%.
“Bunnings Warehouses are always highly sought after from a wide variety of investors,” said Wilson. 
“During the off market process Colliers International received strong interest from funds, syndicators and private investors.”
“Metropolitan and regionally located retail investments have continued to set benchmark levels due to NSW having a distinct lack of supply, with less than $100 million worth of freestanding investments publicly marketed YTD 2018.
“This scarcity of stock is in stark contrast to Queensland and Victoria. 
“Recent campaigns have resulted in unprecedented levels of domestic and offshore interest, with enquiry levels almost doubling since 2014.
“This reflects the growing depth of retail appetite for rare freestanding investment opportunities, including the highly prized Bunnings covenant.”
Brett Gorman, director of MPG, said the opportunity provided a great opportunity for its investors.
“MPG Funds Management is pleased to grow our long-standing relationship with Bunnings in a rapidly growing region of NSW,” he said.
</body></html>

j.ballantyne1990-6AQqhLzZaK

Brand new Bunnings-anchored site sells for $44.65 million off-market

<html><body>
A former Bunnings Warehouse in Rockhampton is for sale for the first time in 17 years after the home improvement giant relocated nearby.
The 7,660 square metre building (above) last traded for $2.2 million in 2001. 
In 2017 when they confirmed the relocation, Bunnings general manager of property Andrew Marks suggested plans were under way to re-purpose the building.
Bunnings have moved down the road from 452-488 Yamba Road to the corner of River Rose Drive and Yaamba Road - better known at the old Masters Home Improvements site.
Their new store spans another 4,000 square metres of retail.
Savills agents Peter Tyson and Jon Tyson are marketing the old premises until July 26.
Savills national retail director Peter Tyson said the building represented a significant holding located in the heart of the region’s large format retailing precinct and offers numerous value-add possibilities for potential owner-occupiers, retailers, developers and investors.
“The building is fully air-conditioned and would be readily adapted for reuse, with options including certain retail, large format retail or bulky goods uses, vehicle and outdoor sales, industry and self-storage uses," he said.
“The complex occupies a prominent 26,626 square metre site with enormous frontage to Yaamba Road, the local section of the Bruce Highway, which features over 9.2 million cars passing the site each year."
The Yaamba Road commercial precinct is bookended by the new Bunnings Warehouse to the north and the 58,000 square metre Stockland Rockhampton Shopping Centre to the south, and is also home to the Red Hill Homemaker Centre, as well as various national retailers including Harvey Norman, Amart, Petbarn and Spotlight. 
“It is interesting to note a long list of national retailers not present in the Rockhampton market and trade area analysis reveals an enormous available catchment extending east to Yeppoon and west to Emerald and beyond, with almost 230,000 people forecast to reach over 250,000 people by 2031,” Peter Tyson said.
Earlier this month Savills listed the Bunnings premises in Warragul outside of Melbourne, which is currently tenanted to Bunnings.
</body></html>

Former Bunnings Rockhampton warehouse up for grabs after relocation

<html><body>
<div>
The tradie booking website Hipages has been canvassing brokers and law firms in preparation for an initial public offering on the ASX.
HiPages vets the trades licenses and Australian Business Numbers of all tradespeople registered on its site.
HiPages ranks as the largest of three online trades and services sites operating in Australia.
Hipages, which counts News Corporation as a investor with 30 per cent, was last valued at $216 million following a reshuffle of its share register late last year. 
News bought into the website in 2016 for around $38 million.
The Australian Financial Review Street Talk column wrote co-founders David Vitek and Roby Sharon-Zipser had been in recent meetings to explore potential IPO options next year or a late 2018 listing.
</div>
<div>
<div id="article-inline-ad">Hipages has worked with investment bank UBS, which has assisted with prior funding rounds.</div>
<div> </div>
<div>Its investors include Ellerston Capital and the venture capital firm Right Click Capital. </div>
</div>
<div>
Founded in 2004, Hipages charges member fees for tradespeople rather than relying on commissions from jobs delivered.
Recently <a href="https://www.bunnings.com.au/">Bunnings Warehouse</a>, the Australia-based household hardware giant, started offering customers a fixed-price installation service through a strategic partnership with <a href="https://www.homeimprovementpages.com.au/">HiPages</a>.
The deal will give Bunnings customers the option of adding a $275 fixed-price installation service — which includes all fittings and fixtures, removal and disposal of old toilets, and a five-year warranty — from HiPages when they purchase a toilet suite.
Customers will receive a unique voucher code at the time of purchase, which is used to book a local tradesperson on the HiPages website.
The installation service will be rolled out nationwide, following a trial in 15 Bunnings stores in New South Wales.
</div>
 
</body></html>

Hipages tradie booking website seeks out IPO interest

<html><body>
Savills are marketing an opportunity to buy a Bunnings, Australia's largest hardware chain.
While it's not the Bunnings for sale, but the premises it resides. The Wesfarmers owned company have a secure lease, with two five year options to extend to 2032.
They currently pay $448,000 per annum.
The <a href="http://commercialpropertysearch.savills.com.au/eec59b66-7c51-e811-80d4-005056813885/Sale/Warragul/9-June-Ct" target="_blank">Warragul property at 9 June Court</a>, 100 kilometres south-east of Melbourne, last traded for $6,425,000 in 2016.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2018/6/6/bunnings2.jpg" alt="">
There's a catchment population of 50,000 which is projected to grow by more than 20% by 2026.
It sits on over one hectare and spans 5,100 square metre of building, with easy trade drive through, nursery and secure timber yard.
Savills listing agents Benson Zhou and Clinton Baxter suggest the property is unrivalled in one of Victoria's fastest growing regions.
The property won't go under the hammer, instead they are running an expressions of interest campaign until June 26.
</body></html>

jrobinson-rf4aSBido9

Bunnings building in Warragul on the sales block

<html><body>
Berri Bunnings Warehouse in South Australia’s Riverland region is on the market, representing the first sale of a Bunnings-occupied asset for 2017.
Located at the corner of Hoskins Road and Sturt Highway, the new hardware store opened in May 2016 and is the first stage of a master plan for The Riverland Complex Site on the Old Sturt Highway in Berri.
CBRE’s Joseph Du Rieu, Justin Dowers, Alistair Laycock and Jordan Kies, are selling the property on behalf of Adelaide-based developer Pat &amp; Co Pty Ltd – headed by Tony Moro.
He added that Bunnings committing to being the property’s anchor tenant was a vote of confidence for the precinct.
“With one of the country’s most recognised retailers taking a long term lease on the first stage of the development, we can take great confidence that other retailers and business owners will be drawn to the development of Riverland Complex Bulky Goods precinct stage two and three over the coming years,” Moro said.
The 6,557 sqm store was developed in a similar design as the Victorian Swan Hill Bunnings, - which sold in late 2015 for a yield of 5.11 percent - and constructed with a long-term view to accommodate the growing population of the Riverland region.
CBRE’s Justin Dowers said the property marked the first Bunnings warehouse investment offered for sale in Australia for 2017.
“Bunnings warehouse investment properties have been a highly sought after investment vehicle over the past two or so years – a factor that is helping compress yields to as low as 5 percent in some instances,” Dowers said.
He said the lack of retail investment opportunities such as this is also driving investors to compete for assets in regional locations. Furthermore, “the consistent performance and revenue growth of Bunnings has been a key attraction for private and institutional investors,” he added.
In late 2016, the Yarrawonga Bunnings in Victoria was sold off the plan for a record yield of 4.94% – representing the first Bunnings warehouse to be sold to a mainland Chinese investor.
 
</body></html>

First Bunnings sale of 2017 in SA to test investment appetite

<html><body>
An off-the-plan Bunnings Warehouse in Victoria’s Yarrawonga is being offered to the market by developer Pellicano Group through CBRE.
The property on 1.46 ha will be located within the Kaiela Business Park.
The sale is being handled by CBRE’s Justin Dowers, Mark Wizel, Kevin Tong and Joseph Du Rieu and according to them, it is expected to attract both local and offshore investor interest.
“Bunnings investments are always highly sought after, for a number of reasons. The net lease structure and fixed rental increases are favourable; along with the strength of the fundamental real estate given the strategic site allocations from Bunnings,” Wizel said of the home products retailer.
In late 2015, a similar Bunnings Warehouse in Swan Hill sold to an interstate private investor on a sharp yield of 5.11 percent.
Renato Pellicano of Pellicano Group said the developer had completed several projects within Yarrawonga and surrounds.
This is the first Bunnings Warehouse site offered for sale in Victoria in 2016, said CBRE’s Justin Dowers.
“We are finding that the lack of available investment grade properties for sale in metropolitan Melbourne has had a direct effect on the continual compression in yield differentiation between regional and metropolitan investment assets,” said Dowers.
</body></html>

Bunnings

Editor's Picks

Have something to contribute?

Developments

New apartments

New townhouses

News

Bunnings

Editor's Picks

Receive the latest news stories to your inbox

Have something to contribute?

Developments

New apartments

New townhouses

News