Longstanding Gold Coast and Canberra developer <a href="https://www.apartments.com.au/developers/morris-property-group">Morris Property Group</a> is continuing to roll on with its Glitter Strip apartment pipeline, seeking to return to Mermaid Beach with a new 68-apartment development.

Morris, founded by Barry Morris in 1978 and one of the Gold Coast’s most prolific apartment developers over the past two decades, has filed plans for a 12-storey mixed-use building at <a href="https://www.apartments.com.au/new-apartments/36-seabeach-avenue-mermaid-beach-qld-4218">34-36 Seabeach Avenue</a>, on the prized eastern side of the Gold Coast Highway.

The 1,227 sqm site occupies a prominent corner position at Seabeach Avenue and the Gold Coast Highway, opposite the Mermaid Plaza retail and office precinct and around 140 metres walking distance from the future Mermaid Beach South light rail station.

<a href="https://www.apartments.com.au/architects/fraser-partners-0">Fraser &amp; Partners</a> has designed the project, which will comprise 68 apartments across a mix of 48 two-bedroom and 20 three-bedroom residences.

The building will rise 12 storeys, reaching a maximum height of 36 metres, with the apartments accounting for a total of 156 bedrooms. The development application also seeks approval for short-term accommodation across the 68 apartments, while two office tenancies are proposed at ground level.

The plans show 108 car spaces across the development, with parking accommodated at ground level and within a three-level basement accessed from Seabeach Avenue.

<img alt="Seabeach Avenue and the Gold Coast Highway" data-entity-type="file" data-entity-uuid="c2175c99-12fd-4a3c-9be1-89bbf258a90d" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-20%20at%202.59.41%E2%80%AFPM_0.png?VersionId=iNLzWcE6gaAE76rafhEXfHve.4g4Se0p" />

Resident amenity will be concentrated on level two, where Fraser &amp; Partners has designed a recreation deck with a swimming pool, 90 sqm pool terrace, outdoor barbecue area and gym.

The broader communal offering will also incorporate landscaped spaces, with the planning documents noting the amenity has been designed to provide areas for recreation, social interaction and outdoor living.

The proposal would continue the transformation of the Gold Coast Highway corridor through Mermaid Beach ahead of the arrival of the light rail.

The site is zoned Neighbourhood Centre and sits within the Mermaid Beach/Broadbeach Light Rail Corridor neighbourhood plan. While the prescribed building height is 24 metres, the site is identified within an Urban Neighbourhood context providing for a 50 per cent height uplift to 36 metres.

Planning documents describe the stretch of the Gold Coast Highway between Broadbeach and Nobby Beach as increasingly characterised by medium and high-rise development, with the proposed Morris tower joining projects including Ventura, The Alfred, Oceans and Otto.

<img alt="Seabeach Avenue and the Gold Coast Highway" data-entity-type="file" data-entity-uuid="911f193f-e381-4a55-be08-58be87fcf978" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-20%20at%202.59.48%E2%80%AFPM.png?VersionId=oxVvLJaY.SOXEdXrIcogfyEXDfvCmmpM" />

The development would mark Morris Property Group's latest investment in Mermaid Beach, where it has already delivered two apartment projects.

Otto, at 1 Bondi Avenue on the western side of the Gold Coast Highway, comprises 70 apartments across nine storeys. The project was completed in 2019 and includes a residents' gym, recreation deck and swimming pool.

Morris also developed Oceans at 46 Ocean Street, a nine-storey, 70-apartment build-to-rent development completed in 2019. Oceans was the group's first build-to-rent project and incorporates commercial space at ground level.

The two existing Morris projects sit further north along the same Gold Coast Highway corridor as the proposed Seabeach Avenue development. Fraser &amp; Partners' planning analysis specifically identifies both Otto and Oceans among the established built-form precedents surrounding the site.

<img alt="Seabeach Avenue and the Gold Coast Highway" data-entity-type="file" data-entity-uuid="14925119-7b71-4812-8149-340317512c7c" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-20%20at%203.00.15%E2%80%AFPM.png?VersionId=aEJqYuw_nTCjcin17BSD0piB1EFotTlj" />

Mermaid Beach represents only part of Morris' considerable Gold Coast footprint.

The family-owned developer has been particularly active in neighbouring Broadbeach, delivering projects including Sierra Grand, Eclipse, Synergy, Qube, Koko, Opus and Malo, while its current pipeline includes Maison and the two-tower Crest development.

Further south, Morris has also developed a string of projects in Burleigh Heads, including Element, Boardwalk and Sandbar, while Essentia expanded its footprint north into Surfers Paradise.

The Seabeach Avenue application has been lodged by PMM Broadbeach Pty Ltd and seeks a development permit for a Material Change of Use for multiple dwellings, short-term accommodation and office uses. Zone Planning Group prepared the planning application, with Fraser &amp; Partners commissioned as architect.

The project comes as the developer continues to expand its Gold Coast pipeline while retaining a significant presence in Canberra. Morris now has more than $2.5 billion of development in its national pipeline and has delivered more than 7,000 homes during its near five-decade history

Joel Robinson

First look: Morris Property Group returns to Mermaid Beach with new Seabeach Avenue apartment development

<a data-saferedirecturl="https://www.google.com/url?q=https://www.apartments.com.au/developers/fortis&amp;source=gmail&amp;ust=1787272340808000&amp;usg=AOvVaw3hvFB2uWTRfEyEcpTSnnK9" href="https://www.apartments.com.au/developers/fortis" target="_blank">Fortis</a>&nbsp;is continuing its stronghold on Sydn​ey’s eastern suburbs apartment market, launching&nbsp;in September&nbsp;its latest boutique&nbsp;<a data-saferedirecturl="https://www.google.com/url?q=https://www.apartments.com.au/developments/double-bay-nsw-2028&amp;source=gmail&amp;ust=1787272340808000&amp;usg=AOvVaw0GI5S9-wNeiLUnM-d1uYkw" href="https://www.apartments.com.au/developments/double-bay-nsw-2028" target="_blank">Double Bay</a>&nbsp;development,&nbsp;<a data-saferedirecturl="https://www.google.com/url?q=https://www.apartments.com.au/new-apartments/55-william-double-bay-55-william-street-double-bay-nsw-2028&amp;source=gmail&amp;ust=1787272340808000&amp;usg=AOvVaw2YNouJQcFjiTTgVHbgDLA-" href="https://www.apartments.com.au/new-apartments/55-william-double-bay-55-william-street-double-bay-nsw-2028" target="_blank">55 William</a>.

55 William presents&nbsp;just eight north-facing&nbsp;two-bedroom, three-bedroom and full-floor&nbsp;residences to the market, priced from $4.5 million.

The upcoming launch comes just weeks after Fortis secured approval for the $80 million development, its third eastern suburbs approval in two months. Construction is already underway, with completion targeted for 2028.

[smartcode_project:default project_id=152579 project_image_fid=376250]

55 William adds to a growing concentration of Fortis projects in and around Double Bay, a market the developer has become increasingly active in over recent years.

Fortis previously completed the nine-residence Marmont on New South Head Road, while it is currently developing a mixed-use residential and retail project at 12 Cross Street. Its wider Double Bay footprint also extends into commercial and retail development.

The developer's broader Sydney residential pipeline is particularly concentrated across the eastern suburbs, with projects spanning Doub​le Bay, Ro​se Bay, Wo​ollahra, Dar​ling Point, Poi​nt Piper and Eli​zabeth Bay.

[smartcode_project:default project_id=152579 project_image_fid=376253]

At 55 William, Fortis has again turned to MHN Design Union, the architecture practice behind several of its eastern suburbs projects, while London-based 1508 London has been appointed to handle the interiors and Wyer &amp; Co the landscaping.

The six-level building will comprise a combination of two and three-bedroom apartments, including a garden residence, full-floor apartments, a sub-penthouse and penthouse. Each residence will have secure basement parking and private outdoor space.

A rooftop terrace for all residents, along with select apartments, enjoys views across Double Bay Harbour and toward the Sydney skyline.

Ceiling heights will reach up to three metres&nbsp;in select residences, while the kitchens will feature natural stone and integrated Gaggenau appliances.

&nbsp;

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The boutique nature of the project reflects the type of stock Fortis has increasingly targeted across Sydney's eastern suburbs, where larger apartments and smaller buildings are being pitched primarily toward local owner-occupiers and downsizers.

Fortis Group General Manager Ed Eve said the developer continues to see demand from buyers wanting to remain in the eastern suburbs but move into newer, lower-maintenance housing.

“We're seeing continued demand from local owner-occupiers and downsizers looking for high-quality homes that allow them to remain in the eastern suburbs, close to the lifestyle and community they know,” Eve said.

55 William is also one of the early projects to respond directly to the NSW Government's Low and Mid-Rise Housing reforms. Fortis had previously secured approval for just two townhouses on the 599 sqm site before revising the scheme to eight apartments following the planning changes.

Situated one street back from Double Bay's water's edge, the project enjoys an enviable harbourside setting within walking distance of Double Bay Village and the ferry wharf.

[smartcode_project:default project_id=152579 project_image_fid=376252]

Fortis has increasingly made the eastern suburbs a major focus of its Sydney pipeline. Beyond Double Bay, it recently completed the 14-residence Piper in Point Piper and has projects underway or planned across Rose Bay, Woollahra and Darling Point.

The developer recently secured approval for Verano in Rose Bay, a six-level development comprising 21 two, three and four-bedroom apartments, also designed by MHNDU.

55 William&nbsp;is soon to be release to the market with VIP appointments commencing early September,&nbsp;with residences priced from $4.5 million.

[smartcode_project_cta:default project_id=152579]

Fortis continues eastern suburbs push with 55 William launch

UAE-based developer Arada has unveiled plans for a $2 billion twin-tower apartment development in Broadbeach, marking its first move into Queensland as it continues its rapid expansion across Australia.

Arada will develop 952 apartments across two towers on a prominent site opposite the Gold Coast Convention and Exhibition Centre, with the project targeted for completion ahead of the Brisbane 2032 Olympic and Paralympic Games.

The project represents Arada's largest commitment to the Australian market since arriving in the country in 2024 and significantly expands a local pipeline that has now grown to eight projects and more than 5,000 homes.

It will also be the first major Queensland project delivered by Roberts Co since the tier-one contractor was acquired by Arada Group in 2025.

Plus Studio has designed the Broadbeach development, which will comprise one, two and three-bedroom apartments across two towers connected by a landscaped podium.

A significant resident amenity offering will include lagoon and lap pools, a gym, sauna and steam room, alongside a mist room, infrared room and salt scrub facilities. Communal terraces, private dining areas, a library, residents' lounge and work-from-home spaces are also planned. Around 1,200 sqm of retail and hospitality space will occupy the ground floor.

The site puts Arada in one of the Gold Coast's most active apartment markets, directly opposite the convention centre and within walking distance of Pacific Fair, The Star Gold Coast and Broadbeach's dining and retail precinct.

It also has immediate access to the Gold Coast light rail network and sits just a few blocks from the beach.

Arada Group Chief Executive Ahmed Alkhoshaibi said Broadbeach represented an opportunity for the developer to expand beyond its initial NSW pipeline.

“Broadbeach is a world-class address that gives us the canvas to create a community of exceptional design and lifestyle quality that genuinely enriches the daily lives of the people who call it home,” Alkhoshaibi said.

“This is our first development outside New South Wales, and it reflects our growing ambition to grow in key urban markets around the country.”

Alkhoshaibi said bringing Roberts Co into the project would give Arada greater control over the development and construction process.

“Delivering this project through Roberts Co, our own tier-one construction business, means we can bring the quality, pace and accountability that our buyers expect.”

The move into Broadbeach comes as Arada accelerates its Australian expansion following its entry into the market two years ago. The developer has assembled a pipeline of eight projects comprising more than 5,000 homes, while the acquisition of Roberts Co last year gave the group its own Australian construction capability.

Globally, Arada has a development portfolio valued at $50 billion comprising more than 55,000 homes across the UAE, United Kingdom and Australia.

The Gold Coast is emerging as the next major market for the developer, with strong population growth and infrastructure spending ahead of the 2032 Games continuing to underpin significant apartment development across the coastal strip.

Arada plots $2 billion Broadbeach towers in major Queensland move

Sydney’s downsizer market is changing, with a growing cohort of buyers prioritising the right home over simply finding a smaller one.

Coronation Property Head of Sales Cam Porter says the traditional idea of downsizing does not necessarily reflect what many buyers are now looking for, particularly those moving from established family homes across Sydney.

Instead, he says they are increasingly becoming “right-sizers”, seeking lower-maintenance homes without sacrificing the space, amenity or quality they have become accustomed to.

“We are increasingly seeing buyers who are not motivated by the idea of simply moving into a smaller property,” Porter says.

“They are right-sizers. They want a home that is easier to manage and better connected, but they still expect generosity, quality and a floorplan that supports the way they live.”

It is a subtle but important distinction in a market where apartment developers are increasingly targeting established owner-occupiers.

[smartcode_project:default project_id=135149 project_image_fid=377495]

For many of these buyers, moving from a house to an apartment is not driven by a desire to dramatically reduce their living space. Instead, the appeal is in removing some of the maintenance associated with a larger home while retaining generous living areas, storage and enough flexibility to accommodate family and friends.

Coronation’s sales team is seeing buyers place particular importance on natural light, practical storage and additional rooms that can be used as guest bedrooms, home offices or secondary living spaces.

Kitchens and dining areas are also playing an increasingly important role, particularly for buyers who regularly entertain or have children and grandchildren visit.

[smartcode_project:default project_id=135149 project_image_fid=377494]

“These buyers still want their home to feel generous,” Porter says.

“They may want less maintenance, but they are not looking for less life.”

The challenge for the broader housing market is providing enough of the right stock to encourage that move.

While much of the discussion around Sydney’s housing shortage has centred on the number of homes being delivered, Porter says the diversity of those homes is equally important.

Older homeowners can remain in large family houses for longer when they cannot find an appropriate alternative in the neighbourhoods where they have built their lives.

“The decision is rarely as simple as wanting fewer bedrooms,” Porter says.

“People are weighing up their connection to a neighbourhood, the space they need for family, the quality of the home and whether it will continue to work for them over the long term.”

It also has implications beyond the downsizer market. Providing suitable apartments for smaller households can free up established houses for families who need the additional bedrooms and land, creating greater movement through the housing market.

<h2>Lillian targets the next stage of apartment buyer</h2>

It is a buyer Coronation is targeting at <a href="https://www.apartments.com.au/new-apartments/lillian-erskineville-9-metters-street-erskineville-nsw-2043">Lillian</a>, its new collection of apartments, terraces and penthouses at Erskineville Village.

Designed by Silvester Fuller, Lillian has been shaped around larger living spaces, natural light and flexible floorplans, alongside landscaped areas, wellness amenity and communal spaces for residents.

The development will form part of Coronation’s broader Erskineville Village precinct, which will combine new homes with green space, retail, hospitality and new pedestrian connections.

[smartcode_project:default project_id=135149 project_image_fid=377688]

McPherson Park will sit at the centre of the precinct, creating a significant new green space alongside the project’s retail and hospitality offering.

For Porter, the opportunity is to give buyers another housing option without forcing them to leave the part of Sydney they already know.

“People should be able to change the type of home they live in without having to change their entire life,” he says.

“For many buyers, Lillian offers the opportunity to remain connected to the Inner West and the city, while gaining access to a more convenient, walkable and considered way of living.”

[smartcode_project:default project_id=135149 project_image_fid=377687]

Coronation will explore the changing <a href="https://lillianresidences.com.au/news/lillian-x-space-x-downsizers-event-27-august/">right-sizer market at an event on August 27</a>, bringing together experts across property, design and lifestyle.

Held in partnership with SPACE, Poliform and Downsizer.com.au, the event will include a property market outlook from economist Michael Blythe alongside discussion around the considerations facing buyers planning their next move.

Attendees will also be able to learn more about the residences and amenity planned at Lillian Erskineville.

[smartcode_project_cta:default project_id=135149]

From downsizing to right-sizing: What Sydney buyers want from their next home

Family-owned builder and developer <a href="https://www.apartments.com.au/developers/omaya">Omaya</a> is bringing its 27-storey The Maybelle development to market, with the 229-apartment tower rising alongside Ismay Reserve near North Strathfield.

<a href="https://www.apartments.com.au/new-apartments/the-maybelle-21-parramatta-road-homebush-nsw-2140">The Maybelle</a> will comprise one, two and three-bedroom apartments, with its height providing elevated outlooks towards the Sydney skyline and Harbour Bridge, while other residences will look across neighbouring Ismay Reserve.

Designed by <a href="https://www.apartments.com.au/architects/squillace-architects">Squillace Architects</a>, the tower combines its parkside setting with proximity to the established retail, dining and transport amenity around North Strathfield.

[smartcode_project:default project_id=134873 project_image_fid=376196]

Residences will feature open-plan living spaces and a choice of two interior schemes, while communal amenity is spread across two elevated levels of the building.

Level 8 will be home to the Garden Pavilion, a full-floor resident space incorporating communal entertaining and breakout areas, seating and recreation spaces. Further up the tower, a landscaped Sky Terrace on Level 14 will provide another communal area with panoramic views towards the Harbour Bridge and Sydney skyline.

At ground level, the development sits directly alongside Ismay Reserve, where lawns, walking paths, children's play areas, picnic spaces and recreational facilities extend the green space available immediately around the project.

[smartcode_project:default project_id=134873 project_image_fid=376194]

The Maybelle is also within walking distance of North Strathfield and the Bakehouse Quarter, which provides a mix of cafés, restaurants, shops and everyday services.

Existing rail and bus services provide connections across Sydney, while the future North Strathfield Metro and access to the M4 will add to the transport options available around the precinct. Walking and cycling routes also extend via Powells Creek towards Sydney Olympic Park and its sporting, entertainment and parkland precincts.

Families are also well positioned for access to a broad selection of established schools and education options across Strathfield and the surrounding Inner West.

[smartcode_project:default project_id=134873 project_image_fid=376181]

Omaya has operated in Sydney for more than 35 years, managing projects from acquisition and design through to construction and delivery. The family-owned company is both developer and builder of The Maybelle.

Apartments start from $560,000, with the development protected by 10-year Latent Defects Insurance.

Construction is well underway, with completion expected by the end of 2026 and move-in anticipated from Q1 2027.

[smartcode_project_cta:default project_id=134873]

The Maybelle brings 27-storey parkside tower to market near North Strathfield

Industrial Property

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A 2,461 sqm freestanding industrial building in Botany has been sold for $5,730,000. 
A private investor purchased the property from Woodsize Pty Ltd.
Located at 36 Chegwyn Street, the freestanding industrial building comprises a 2,461 sqm high clearance warehouse with first floor office and storage space. 
The freestanding building sits on a 1,646 sqm site area and has two street frontages.
The deal was negotiated by Edward Washer and Sam Wallace, Savills Australia who said the sales campaign saw a large amount of interest from owner occupiers and investors. 
According to Mr Washer, “The buyer saw great value long term in the location and the flexible B7 business park zoning and 1.5:1 FSR."
“Previously used as a leather tannery, the new owners will look to bring new life to the building and align it with tenant demand in the area."
 
 
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j.ballantyne1990-6AQqhLzZaK

Freestanding industrial Botany building sold for $5.73 million

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There are five major market movements that will affect how the Australian infrastructure investment boom is set to peak in 2020, combined with new trends in e-commerce, manufacturing, logistics, and location, according to a new report from Centuria Capital Group (Centuria).
The report found, industrial property has been the most in-demand real estate sector globally for the past two years, and the combination of domestic and international demand for properties in Australia has seen sustained growth in asset values and rents.
It was written by Centuria’s recently appointed Head of Funds Management, Ross Lees, who looked into the factors driving returns from industrial real estate in Australia, and explaied why the outlook for the sector is increasingly positive.
Within the report he notes, prime industrial rents in Sydney are predicted to increase by 7.8% - 12.5% over the next three years, while yields are likely to tighten by 15-25 basis points and values likely to increase by 10.5%-15.2% because economic and social forces at play providing significant tailwinds for industrial property.
"With infrastructure spend peaking next year – and a strong link between infrastructure spend, the economy and industrial property – infrastructure investment will make a significant difference to demand for industrial assets."
"The current infrastructure program is different from the last major spend, on the M7, which opened up new land and allowed for new cheap industrial property to be built cheaply in the newly-serviced areas – creating a net negative for industrial property."
"The current spend, conversely, is happening inside the band – on transport in particular. The consequences for industrial property are likely to be very different."
"Not only is no new land being ‘opened up’ but industrial space is being taken out of the market to allow for the light rail – reducing supply and pushing up prices. This is already happening according to the latest figures – despite our weaker economy."
Another factor is E-commerce’s role in industrial property’s positive fundamentals has also been apparent for some time as it has fueled increased demand.
For every sqm lost in bricks and mortar retailing, 3sqm of warehousing is required. 
The report noted, it is also one of several drivers that have created a global focus on logistics and the importance of supply chain management as a competitive advantage, as well as boosting ‘clean’ manufacturing, customers’ demand for fast delivery, so-called ‘last mile logistics’ has been identified as a key differentiator, and means that warehouses located too far from consumers are less in demand than smaller warehouses closer in.
Meanwhile, clean manufacturing is on the rise – automation, robotics and AI are helping Australian manufacturers control two of their long-standing challenges, high labour costs, the need for scale in a small market and distance to market.
In all, Australian industrial property is on the precipice of strong growth, Centuria concluded.
<a href="https://centuria.com.au/news-and-media/how-australias-2020-infra-peak-will-fuel-industrial-property/" target="_blank"> Read the full report here</a>. 
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Why Australia's industrial infrastructure boom is set to peak in 2020: Centuria

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Investment and development firm Leda Holdings has purchased a property in Yennora’s industrial precinct for $8.75 million.
The property at 51A-51B, Kiora Crescent is a 13,780 square metre site with development potential.
CBRE’s Elijah Shakir and Jason Edge, who negotiated the sale, said it was the final sale in the second stage sell-down of LOGOS Property’s Alcoa land subdivision. 
Shakir said the sale price which reflected a land rate of $635 per square metre, was a record rate in the suburb. 
“Yennora continues to strengthen as a highly desirable industrial precinct, with land rates increasing over 50% in the region over the past 24 months,” he said.
“LOGOS has played an important part in the area’s transformation and ongoing appeal with the staged subdivision of the former Alcoa site.
“The region has experienced a significant uplift through the land subdivision, with both owner occupiers and investors benefitting as they either redevelop, refurbish or submit plans to council.
“The future of Yennora has captured the imagination of a number of high profile investors.
“Recognising the area’s growth, Leda Holdings has been an active land purchaser in Western Sydney for a significant time, with this sale further demonstrating its desire to build up its development pipeline in the area.”
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Leda Holdings snaps up $8.45 million Yennora land parcel

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A mechanics shed at the rear of a cottage in south-western Sydney has been sold at $2.25 million.
Located on 1498 square metres, the <a href="https://www.realestate.com.au/property-house-nsw-lakemba-127600430" target="_blank">69 Wangee Road</a>, Lakemba property features four large bedrooms, large living area, original kitchen and bathroom and an additional workshop at the rear ready for operation.
The property is currently zoned Light Industrial IN2 and situated on two lots, offering the potential for re-zoning (S.T.C.A). 
 It is close to places of worship, local train station, schools &amp; Lakemba's popular Haldon Street and the newly constructed Woolworths. 
The house property sold through John Yatman from Ray White.
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Mechanics shed at Lakemba cottage sold

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Cubbyholes in the Central Coast are being offered for sale, priced from $108,000 plus GST.
The Cubbyhole concept essentially means an an industrial park comprising small, affordable work and storage spaces.
The Cubby Two is built in the Warnervale Business Park, Central Coast, where Woolworths and Sanitarium have located their distribution centres. 
It is close to MQ that connects Sydney to the Central Coast and Newcastle. 
The buildings for Cubbyhole Central Coast are set in landscaped grounds, adjoining bushland with rural views and include a café. 
There are 88 light industrial units and one residential apartment.
The video of the proposed development can be watched at <a href="http://www.cubbyhole.com.au/" target="_blank">www.cubbyhole.com.au</a>.
The listing is by Simon Mitrovich of Robinson Property.
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Cubbyhole from $108,000 on the NSW Central Coast 

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Twelve warehouses at Altona’s Aylesbury Industrial Park have sold out within weeks of construction commencing, a pointer to the strong demand in Melbourne’s south-west suburb of Altona.
Another 20 off-the-plan boutique warehouses in the same business park have also been listed at 36 Aylesbury Drive. 
Six are already in the process of being sold.
The listing agents are Michael Ryan and James Gregson of Allard Shelton.
“Despite there being a significant amount of competing stock in Altona and surrounding suburbs, the demand in this development for off the plan and unfinished stock has been tremendous,” Ryan said.
“We still have a number of disappointed buyers who missed out on 26 Aylesbury Drive and are ready to purchase. Many of them are now setting their sights on the upcoming development at 36 Aylesbury Drive with 6 of the warehouses already on their way to being sold,” Ryan said.
Ryan added that the vendors might decide to build a similar development after the response to the others.
26 Aylesbury Drive was owned and developed by two of Victoria’s largest civil engineering and construction groups, Civilex and Conset Group. 
Construction of 26 Aylesbury Drive is scheduled for completion in November.
Sized between 195 sqm and 205 sqm, the warehouses sold between $405,000-$425,000 for a total of just under $5 million.
Seven out of the 12 Aylesbury warehouses were sold to owner occupiers and the rest to investors. 
Gregson said the mix of investors and owner occupiers buying these assets, pointed to the affordability and easy transport access of the Altona estate as key drivers.
 
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Quick sellout of warehouses at Altona business park 

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Brisbane-based Sentinel Property Group has acquired an industrial site with development potential within the Australia TradeCoast precinct at Pinkenba in Brisbane’s east for $48.5 million.
The acquisition adds to Sentinel’s pooled Industrial Trust portfolio which includes properties at Mayfield in Newcastle, Oxley in Brisbane and Paget in Mackay.
Recently, it purchased a fully leased office building in Cairns for $8.5 million.
The 69 Tingira Street site spans 140,006 sqm and has a waterfront bulk storage industrial facility located there.
It was purchased in a leaseback arrangement with listed industrial chemical company Incitec Pivot Pty Ltd (ASX:IPL). 
IPL will continue to run its fertiliser distribution centre from the site and will lease nearly 11.5 ha of the property with 2.5 ha on Soutter St available to Sentinel for further development. 
The site benefits also from an adjoining wet lease of 15,370 sqm with associated wharf infrastructure.
The deal was negotiated by Anthony White and Simon Beirne of Colliers International.
Sentinel managing director Warren Ebert said this was a tremendous opportunity to acquire a major industrial facility in Pinkenba at a strong investment yield above what prime industrial assets are currently trading for, as well as benefitting from development upside.
“This site offers unique ongoing investment potential with core bulk storage and liquid storage assets in low supply throughout Brisbane, particularly when coupled with direct river access,” he said.
Yields for recent sales of industrial facilities have been in the range 5.5-7.5 per cent. 
The passing net yield for the Pinkenba site was 8.2 per cent, he said.
“This is also one of very few sites with wharf access in Brisbane that can accommodate Handymax class vessels of up to 188m long and 34m wide and capable of both liquid and bulk cartage.”
Ebert said it was an ideal time for Sentinel to purchase in the Australia TradeCoast precinct as it is a tightly held market due to the lack of available land.
“The proximity to Brisbane Airport, Port of Brisbane and major transport infrastructure continues to drive demand in this precinct. 
“The Port of Brisbane is one of Australia’s fastest growing container ports and Queensland’s premier multi-cargo port, handling almost $50 billion in trade annually.”
Colliers’ Anthony White said he expected the increased sale and leaseback activity, particularly from corporates, in the TradeCoast precinct to continue.
Sentinel Property Group has a total national portfolio of more than 40 retail, industrial, office, land, tourism infrastructure and agribusiness assets in Queensland, New South Wales, Victoria, Western Australia, the Australian Capital Territory and the Northern Territory with a total value of more than $1 billion.
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Sentinel buys industrial site in Brisbane for $48.5 million

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A 3.1 hectare site with potential for development in Sydney’s Campsie has been listed for sale.
The site at <a href="https://www.propertyobserver.com.au/https://www.propertyvalue.com.au/property/11-harp-street-campsie-nsw-2194/1708305" target="_blank">11 Harp Street</a> is opposite Canterbury Hospital and offers the potential to rezone for residential uses subject to council approval.
It is also close to Frasers’ “Clemton Park” residential redevelopment of the former Sunbeam factory.
The listing agents are Edward Washer and Sam Brewer of JLL, along with Michael Crombie and Trent Gallagher of Colliers.
JLL’s Washer said they expected interest from developers as it was a large infill site, which was rare in Sydney’s industrial markets.
“This is a rare opportunity to purchase a fully-leased industrial investment in Campsie, with future rezoning potential. Indicative medium and high density residential schemes have already been prepared for the property, along with multiple industrial schemes, all providing further upside potential,” said Washer. 
The site is tenanted, with leading auction and valuation specialist Pickles Auctions on a long term lease. 
The sale is via an expressions of interest campaign closing November 1. 
 
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Infill site with prospects for apartments in Sydney's Campsie listed 

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Investec Australia Property Fund (IAPF) has announced the acquisition of an industrial property in Hallam, Melbourne for $22 million on an initial yield of 6.3%. 
The property at <a href="https://www.realestate.com.au/property/11-siddons-way-hallam-vic-3803" target="_blank">6-8 and 11 Siddons Way</a> comprises two separate buildings with a gross lettable area of 15,504 sqm.
It is split into warehouse and distribution facilities along with office accommodation.
The site area is 32,701 sqm.
The property is 33 kilometres south east of the Melbourne CBD in one of the city’s most established industrial precincts. The property has easy access to major arterials and freeways including the South Gippsland Highway, Eastlink and the Monash Freeway. 
IAPF chief executive Graeme Katz said the acquisition would take the value of the fund’s total portfolio to $801 million.
“The property is located in one of Melbourne’s most tightly held industrial precincts which is home to other significant companies such as Ceva Logistics, Australia Post and TNT. In addition, Amazon has just announced it will locate its first Australian distribution facility in the adjoining suburb of Dandenong South. 
Settlement of the property is expected by mid-October, said IAPF.
The Johannesburg-listed IAPF, which helps South African investors access Australia’s commercial property market, said the acquisition is accretive for the fund and will be funded by utilising its existing debt facility.
The property is 100% occupied by Australian retailer Focus on Furniture, which uses the property as their national office and main distribution warehouse. 
Focus on Furniture has been operating for 15 years and specialises in lounges, dining and bedroom suites. 
It currently has 33 stores in Victoria, NSW, ACT, South Australia and Queensland with more than 150 staff. 
Focus on Furniture is on a long lease, expiring in 7.8 years with annual rent increases of 3%.
Following the acquisition, IAPF will be geared to 35% with a weighted average cost of debt of 3.67% and hedged to 87% for an average of 7.2 years, it said.
“The acquisition aligns well to the Fund’s strategy of investing in well-located, high quality assets that provide a sustainable income stream for investors,” Katz said.
He added that though the property had a strong tenant, it has flexible future uses and could potentially be split into two separate units to accommodate multiple users. It is also split over two titles which could be sold separately.
 
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Investec Australia Property Fund acquires Melbourne industrial property for $22 million

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Centuria Property Funds has announced two leasing deals for its listed industrial trust, Centuria Industrial REIT.
The trust has renewed leases with AWH, Australia’s largest wool-handling operation, for CIP’s existing asset at <a href="https://centuria.com.au/industrial-reit/property-portfolio/310-spearwood-ave-bibra-lake-wa/" target="_blank">310 Spearwood Avenue, Bibra Lake, WA</a> (44,296sqm) (below), and for the recently acquired adjoining asset at <a href="https://www.domain.com.au/property-profile/lot-14-sudlow-road-bibra-lake-wa-6163" target="_blank">Lot 14 Sudlow Road</a> (39,485sqm) (picture above).   
The term will come into effect after the settlement of Lot 14 Sudlow Road in September.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/08/23/Centuria2.jpg" alt="">
 
AWH is the largest tenant in CIP’s portfolio and occupies 11% of the trust’s gross leasable area (GLA).
The deal caps off a busy period since Centuria took control of CIP in January that resulted in an expansion of its portfolio, which increased in size to $957 sqm.
The period also saw a refinancing CIP’s entire bank debt facilities and leasing activity across 19% of the portfolio.
CIP Trust manager, Ross Lees, said it was Australia’s largest industrial leasing transaction for 2017.   
“This deal will extend AWH’s tenure by an average of 5.6 years across both properties, significantly reducing CIP’s FY20 lease expiry profile, which is great news for CIP investors,” he said.
AWH is one of Australia’s leading logistics and warehousing specialists, occupying more than 650,000 sqm.
The company provides storage, handling, freight forwarding and inventory management services for import, export and domestic distribution, and services over 55% of the nation’s traded wools, added Lees.
“We are active managers and a relationship-based business,” said Lees.
“By maintaining close relationships with tenants and investors, we are aware of their needs and able to swiftly take advantage of market opportunities for the benefit of both.”
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