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

Joel Robinson

Boutique Gordon townhomes now come with a BMW iX3 50

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

Vitale breaks Byron Bay records with EADE sales flurry 

When buying an apartment, most people compare the big-ticket items first. Floorplans. Kitchens. Balcony size. Natural light. The view.

But there's one everyday consideration that often doesn't come up until after moving in: how parcels are delivered.

As online shopping has become part of everyday life, parcel deliveries have shifted from an occasional event to a regular occurrence. Australians spent a record $82.6 billion shopping online in 2025, with almost one in every four retail dollars now spent digitally.

For apartment residents, that can present a challenge.

If nobody is home to accept a delivery, parcels may be redirected to a nearby Post Office, left in a building lobby or common area, or require building management to step in. In higher-density buildings, where dozens or even hundreds of residents may receive deliveries each day, parcel management has become an increasingly important part of everyday living.

That can create a range of frustrations. A missed delivery often means making time to collect a parcel elsewhere, while packages left unattended in foyers or mail areas can create clutter and increase the risk of theft. What seems like a minor inconvenience can quickly become a recurring issue for residents who shop online regularly.

It's one of those details that rarely features in a display suite but can have a noticeable impact once residents move in.

As a result, buyers are beginning to look beyond traditional apartment features and consider how a building supports day-to-day convenience, including whether there are secure options for receiving deliveries.

Australia Post's Parcel Lockers provide one solution.

<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/CkF2oKmlACg?si=C50sDaoUUn2nuLmq" title="YouTube video player" width="560"></iframe>

Rather than having a parcel delivered directly to an apartment, eligible deliveries can be sent to a nominated Parcel Locker. Once the parcel arrives, residents receive a notification through the AusPost app or SMS and can collect it using a QR code or one-time PIN at a time that suits them.

The Parcel Locker network now includes more than 1,500 locations nationwide, with installations at Post Offices, shopping centres, transport hubs and an increasing number of residential developments. By providing a secure collection point, Parcel Lockers help reduce missed deliveries and avoid parcels being left unattended in common areas.

For developers, parcel infrastructure is becoming another way to improve the resident experience. Rather than relying on concierge staff or leaving parcels in communal spaces, secure collection points help streamline deliveries while preserving the presentation and functionality of shared areas.

For buyers, it's a reminder that the best apartment features aren't always the most obvious.

A generous floorplan or quality finishes might help narrow the shortlist, but the conveniences that simplify everyday life, whether that's EV charging, secure bike storage or reliable parcel delivery, often become the features residents appreciate most once they're living there.

The apartment feature many buyers don't think about, until their first missed delivery

<a href="https://www.apartments.com.au/developers/hg-developments">HG Developments</a> is doubling down on Maud Street in Newstead, filing plans for a new apartment tower just a few doors down from its under-construction Aire Newstead development.

Recently submitted to Brisbane City Council, the proposal is for an 18-storey building designed by bureau^proberts, which has drawn heavily on Brisbane's subtropical design principles while referencing the suburb's industrial heritage.

A total of 64 apartments are planned for the amalgamated 1,518 sqm site at <a href="https://www.apartments.com.au/new-apartments/17-21-maud-street-newstead-qld-4006">17–21 Maud Street</a>, a short walk from the Brisbane River and Newstead Riverwalk.

<img alt="First look: HG Developments plans 18-storey subtropical apartment tower for Newstead" data-entity-type="file" data-entity-uuid="a400c7fd-bd15-48f8-a63b-10ede92efe00" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Maud%20st%20bldg.png?VersionId=.0vPmjpbC7CNP7kqGWa6L7rGIwsNExaw" />

"The building is defined by a series of vaulted motifs that reinterpret the arches, colonnades and layered facades evident throughout Newstead's historic built fabric," the Urban Design Report states.

"Combined with recessed glazing and generous balconies, these elements create a layered building envelope that provides shade, weather protection and opportunities for natural ventilation whilst establishing a distinctive architectural identity."

The proposal comprises 64 two, three and four-bedroom apartments across 18 residential levels, positioning it alongside a growing number of taller residential projects transforming Newstead's northern precinct. The tower incorporates extensive subtropical landscaping, with cascading planter boxes, deep planting at street level and a landscaped rooftop recreation area.

<img alt="First look: HG Developments plans 18-storey subtropical apartment tower for Newstead" data-entity-type="file" data-entity-uuid="1d8140f4-8b98-45cd-b1b8-1efe8c8e266b" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Maud%20st%20podium.png?VersionId=VAZtbCoD44YCJ57N99fQCAKeSJx7ldZs" />

Bureau Proberts has prioritised passive environmental design throughout the project, with generous balconies, recessed glazing and operable façades helping reduce solar heat gain while maximising natural ventilation. River views become available from the upper levels, while the building has been orientated to capture prevailing breezes from both the Brisbane River and the west.

The architects say landscape is intended to be integral to the building rather than an applied element.

"Vertical greenery, cascading planter boxes and elevated gardens are woven throughout the architecture, softening the built form and strengthening the connection between residents and the subtropical environment."

"Through the integration of landscape, high-quality materials and passive design principles, the development delivers a refined residential address that celebrates Newstead's heritage character while contributing positively to Brisbane's evolving subtropical identity."

Newstead has remained one of Brisbane's most active apartment markets in recent years, with a number of developers continuing to back the inner-city suburb.

HG Developments is currently delivering the 40-apartment Aire Newstead at 25 Maud Street. Fortis recently launched the 65-apartment <a href="https://www.apartments.com.au/new-apartments/crest-walker-newstead-12-kyabra-street-newstead-qld-4006">Crest &amp; Walker</a> on Kyabra Street, while builder-developer BPG and Don O'Rorke's Consolidated Properties are both expected to launch their respective Newstead projects before the end of the year.

HG Developments doubles down in Newstead with second Maud Street apartment development

Walk past a new apartment development promoting its sustainability credentials and it's easy to picture rooftop gardens, mature trees, landscaped courtyards and residents surrounded by nature.

But in many cases, that's not actually what those sustainability ratings guarantee.

Australia's leading environmental rating tools have played a significant role in improving the energy efficiency and environmental performance of buildings. Yet despite their focus on reducing emissions, many don't require developers to include trees, biodiversity or meaningful green space.

In other words, a building can achieve one of the country's highest sustainability ratings while containing little more than concrete, glass and hard landscaping.

That disconnect has led to the emergence of a new movement across Australia's property industry: nature-based cities.

The concept goes beyond designing buildings that consume less energy. Instead, it encourages developers to treat nature as essential infrastructure, integrating biodiversity, tree canopy, living landscapes and green spaces into projects from the earliest stages of planning.

Research has consistently linked access to nature with better physical and mental health, cooler neighbourhoods, improved biodiversity, stronger climate resilience and more connected communities. As Australia's cities continue to become denser, advocates say those outcomes should be considered just as important as energy efficiency.

Nature Based Cities (NBC) was established in 2022 to help accelerate that shift.

Founded by Hamton Executive Chairman Paul Hameister OAM, the not-for-profit was created after research highlighted a significant gap in Australia's sustainability framework. While existing environmental rating tools rewarded energy performance and emissions reductions, they placed little emphasis on the inclusion of living landscapes.

"We've always wanted to do more, and we know other developers who want to do more, but the ESD rating tools just aren't there," Hameister says.

"In Australia, you can have a five-green-star rated building that's concrete and glass with not a blade of grass.

"The focus is on reducing emissions, which is laudable, but there hasn't been enough attention paid to protecting and re-establishing nature. We need both for the health of the environment and for communities."

Since its launch, NBC has developed independent design guidelines and accreditation frameworks that encourage developers to prioritise ecology, biodiversity, tree canopy, walkability and living landscapes alongside traditional sustainability measures. The organisation first focused on medium and high-density residential developments before recently expanding into precinct-scale communities and masterplanned neighbourhoods.

Jan Talacko, founder of sustainability consultancy Ark Resources and a member of the Nature Based Cities Advisory Council, says the initiative addresses an area that has largely been overlooked by the property industry.

"Throughout my 25 years of working collaboratively with all stakeholders in the property sector, I've always favoured a pragmatic approach to sustainable design which encourages initiatives that not only meet environmental expectations but also improve amenity," Talacko says.

"Whilst we are making steady progress in relation to energy and carbon emissions from buildings, there has been much less emphasis on encouraging biodiversity and tackling the urban heat island effect.

"The Nature Based Cities initiative responds to a gap in the suite of tools currently used by the property development sector, which don't provide sufficient incentive, or recognition, for the integration of landscaping and greenery."

For apartment buyers, the shift is also changing the questions worth asking.

Rather than assuming a sustainable building will naturally include abundant green space, buyers are increasingly being encouraged to look beyond environmental ratings and ask what nature is actually being delivered. How much tree canopy will the development create? Has biodiversity been considered? Are landscaped spaces designed for people as well as appearance?

As Australia's cities continue to grow upwards and outwards, the next generation of sustainability may not simply be measured by lower emissions, but by how successfully developments bring nature back into everyday urban life.

What does it really mean for a building to be 'green'?

Bunnings

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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.
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jonathanchancellor-7SQnKwU6yx

New Norman Gardens Bunnings building to be sold

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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.
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j.ballantyne1990-6AQqhLzZaK

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

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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.
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Former Bunnings Rockhampton warehouse up for grabs after relocation

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<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.
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Hipages tradie booking website seeks out IPO interest

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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.
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jrobinson-rf4aSBido9

Bunnings building in Warragul on the sales block

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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.
 
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First Bunnings sale of 2017 in SA to test investment appetite

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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.
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