&nbsp;

A local Australian has spent a Lower North Shore record $15.1 million at <a href="https://www.apartments.com.au/new-apartments/elevate-hume-place-crows-nest-25-hume-street-crows-nest-nsw-2065">Elevate Hume Place</a>, the new TOD above the recently opened Crows Nest Metro Station.

The buyer amalgamated a penthouse and sub-penthouse to create the triplex apartment that will have five bedrooms, five bathrooms, a private rooftop pool, expansive terrace, and panoramic views of Sydney Harbour and skyline. The building is being created by burgeoning developer Third.i, alongside joint venture partner Phoenix Property Investors.

The buyer was drawn to Elevate’s unrivalled connectivity, situated directly above the&nbsp;<a href="https://www.apartments.com.au/developments/crows-nest-nsw-2065">Crows Nest</a> Metro Station, and the vibrant lifestyle precinct that surrounds it. The Metro connects to the CBD in just seven minutes, and Chatswood in four.

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Designed by internationally acclaimed architects <a href="https://www.apartments.com.au/architects/woods-bagot">Woods Bagot</a>, Elevate draws inspiration from the ancient blue gum forests native to the area. The building is a Net Zero development, created in consultation with Indigenous communities and exceeding sustainability benchmarks. Interiors feature chevron-engineered timber flooring, natural stone benchtops, and premium Sub-Zero Wolf appliances, delivering timeless elegance and next-level comfort.

The exchange of the $15.1 million apartment, follows a recent $5 million sale, and over $30 million currently in expressions of interests. Interest in Elevate’s penthouse stock has surged, reflecting a strong appetite for ultra-luxury residences that combine design excellence with unmatched connectivity.

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“We’re seeing a significant uptick in interest from local and international buyers who are prioritising connectivity, sustainability, and lifestyle,” said Callum Billinghurst, Head of Sales at Third.i Group.&nbsp;

“These recent sales are a testament to the vision behind Elevate. It’s not just about luxury finishes or panoramic views, it’s about creating homes that are deeply connected to the city and the community. Buyers are responding to that. They want to live somewhere that offers more than just a postcode, they want culture, convenience, and long-term value. Elevate delivers all of that, and more.”

[smartcode_project:default project_id=142550 project_image_fid=297878]

As part of the Hume Place precinct, Elevate is transforming Crows Nest into Sydney’s most dynamic urban village. Elevate’s unique position directly above the metro, combined with its curated amenity offering, has made it a magnet for buyers seeking a future-proof investment and a vibrant urban lifestyle.

The next release at Elevate is expected later this year.

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“We’re seeing a significant uptick in interest from local and international buyers who are prioritising connectivity, sustainability, and lifestyle,” said Callum Billinghurst, Head of Sales at Third.i Group


Joel Robinson

Third.i & PPI set Lower North Shore apartment record with $15.1m sale at Elevate Hume Place penthouse amalgamation

Sydney developer Deicorp is set to officially open its <a href="https://www.apartments.com.au/new-apartments/hills-showground-village-castle-hill-2-mandala-parade-castle-hill-nsw-2154">Showground Village</a> precinct in Castle Hill.

NSW Premier Chris Minns will attend the opening on Sunday August 31, alongside&nbsp;Minister for Planning and Public Spaces Paul Scully, The Hills Shire Council Mayor Dr Michelle Byrne, Landcom CEO Alex Wendler, and Deicorp Founder Fouad Deiri.

Located just moments from Hills Showground Metro Station, the centre spans 9,500 sqm across four levels and features 26 specialty retailers as well as a 1,400 sqm public plaza, creating a new community meeting point for shopping, dining, fitness, and everyday convenience.&nbsp;

Showground Village forms part of the Hills Showground Station Precinct, an urban renewal initiative led by Landcom and Sydney Metro that will provide for around 2,300 new jobs over the next 20 years and around 9,000 new homes.&nbsp;

Deicorp was recently approved for another new development next door to Showground Village.

The new five residential buildings in the East Showgrounds Precinct, will see another 873 dwellings delivered, as well as&nbsp;3,500 sqm of open public space in the form of landscaped courtyards, a public park and communal outdoor recreational space including a playground, barbeque area, and outdoor seating.

“This approval will allow us to start construction on a range of beautifully designed, conveniently located apartments and create another vibrant, walkable and well-connected community,” said&nbsp;<a href="https://www.apartments.com.au/developers/deicorp" target="">Deicorp</a>&nbsp;Founder Fouad Deiri.

“These new homes will provide their residents with a seamless connection to jobs and services along Metro North West, and the new&nbsp;<a href="https://www.apartments.com.au/new-apartments/hills-showground-village-castle-hill-2-mandala-parade-castle-hill" target="">Hills Showground Village</a>&nbsp;retail precinct currently under construction."

Deicorp has several thousand apartments in planning and under construction across Sydney, from Zetland and Five Dock to Crows Nest and Macquarie Park.

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Deicorp, NSW Premier officially open Showground Village, new retail and hospitality hub in Castle Hill

ASX-listed developer Cedar Woods is progressing its plans for its Southbank arts precinct site.&nbsp;

The developer has filed plans, which are now with the&nbsp;Department of Transport and Planning, for a new 20-level tower at&nbsp;<a href="https://www.apartments.com.au/new-apartments/141-151-sturt-street-southbank-vic-3006">141–151 Sturt Street</a>, a 2,718 sqm block opposite the Habitat Filter sculpture.

The proposal seeks to demolish the two-level&nbsp;commercial building, including a small supermarket and medical tenancies, and create a new building with 180 apartments and a focus on an&nbsp;active public realm and arts integration.

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<img alt="Southbank site" data-entity-type="file" data-entity-uuid="76a72db6-91ef-43ae-827d-a9cfa72893d2" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Site.png?VersionId=DZgtB4K6BswVh0QtCs3iLjXaLp0CbcEb" />

&nbsp;

There will be a full mix of apartment configurations, including 28 studio apartments, 16 one-bedroom, 104 two-bedroom, and 32 three-bedroom units.

Retail, creative arts, and residential amenity functions are integrated across the lower levels. A food and drink tenancy is planned to front Dodds Street, while a retail tenancy fronting Sturt Street will be accessed via an elevated walkway. The first floor includes a substantial 734 sqm creative arts space, envisioned to support Melbourne’s growing cultural and digital industries.

Architecture firm <a href="https://www.apartments.com.au/architects/rothelowman">Rothelowman</a> has put together the plans. In their&nbsp;Urban Design Report they highlighted the project’s ambition to embed itself within Southbank’s evolving cultural fabric.

A central feature of the design is a through-block link connecting Sturt and Dodds Streets, landscaped with native plantings and embedded with universal access ramps.

“The ramp has been thoughtfully integrated as the primary access point, ensuring universal accessibility for all users,” the report noted, with the link offering “a direct response to the urban planning scheme of creating more green spaces within our communities”.

<img alt="Southbank podium" data-entity-type="file" data-entity-uuid="4d24b1b2-d69c-4a11-a11d-ec6df432221c" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/podium.png?VersionId=geWoJyZDmPSLODZ_.PNJ0LvpOmyyCdpo" />

The building’s podium form responds to the mandatory height limits along Dodds Street and maintains a fine-grain interface to adjoining developments. Above the podium, the tower is articulated with recessed balconies and a focus on views toward the CBD and surrounding arts institutions. A communal rooftop recreation deck and indoor lounge are positioned on level four, adjoining seven apartments and providing over 900 sqm of resident amenity space.

Vehicle access and loading will be provided via Dodds Street, with 155 resident car spaces located across two basement levels and the first three above-ground floors. Bicycle storage is more generous, with 226 spaces distributed across resident, staff and visitor needs.

Rothelowman describes the architecture as “humanist,” with ground-level interfaces designed to encourage social interaction and provide a dignified entry for both residents and passers-by. “All street interfaces are crafted to invite and nurture human connections,” the design report states. “The façade transitions to a human scale, providing an approachable and engaging streetscape”.

Cedar Woods, while well-known for its large communities it develops outside of Australia's capital cities, they have recently developed in Melbourne's inner-ring before. They are approaching completion at <a href="https://www.apartments.com.au/new-townhouses/88-leveson-north-melbourne-88-leveson-street-north-melbourne-vic-3051">88 Leveson</a>, just 15 townhouses in the heart of North Melbourne.

Cedar Woods progresses with new apartment plans in Southbank arts precinct

Brisbane developers Core Property Partners and Vector Property Australia has teamed up for Brisbane's newest apartment development.

The duo identified <a href="https://www.apartments.com.au/developments/east-brisbane-qld-4169">East Brisbane</a> as their preferred suburb, on the fringe of the Gabba Precinct, where they've just revealed BANKSII, 72 apartments opposite Raymond Park.

[smartcode_project:default project_id=136432 project_image_fid=5481]

The one-, two-, and three-bedroom apartments will sit in a glass-wrapped building that will also feature a rooftop with an&nbsp;infinity-edge pool, a BBQ area and alfresco dining spaces, sun lounges, and a sauna, as well as a resident-only gym and a ground-floor cafe.

Rhett Williams, Director of Vector Property Australia, said the project will lift the quality of the East Brisbane community and set a new benchmark.

"In Brisbane’s current property landscape, <a href="https://www.apartments.com.au/new-apartments/banksii-east-brisbane-169-wellington-road-east-brisbane-qld-4169">BANKSII</a> stands out through its emphasis on lifestyle-oriented living, connectivity and sophisticated design," Williams says.

[smartcode_project:default project_id=136432 project_image_fid=5479]

The 10-level building has been designed by MAS Architecture. Their designs were inspired by the native Banksia flower, with the architecture and interiors reflecting the organic symmetry of its namesake flora. MAS has interpreted this throughout the building’s curved form, façade detailing and interior palette.&nbsp;

The building’s flowing geometry and natural tones are complemented by large balconies and floor-to-ceiling glazing, maximising cross-breezes, daylight and views over the city, parklands and river.

“Having a strong narrative for a building helps us architecturally,” MAS noted. "We can choose colours that come off that species of flowers. The trunk and the trees and the flower elements all are now visible in our joinery on the inside and in our architectural finishes on the outside."

[smartcode_project:default project_id=136432 project_image_fid=5485]

Apartments will feature timber floors, soft porcelain tiles, brushed bronze fittings, and stone benchtops with warm veining.&nbsp;

Kitchens feature premium SMEG appliances and generous storage, while bathrooms have been designed as calming retreats with curved cabinetry and twin sinks in the master ensuites.

The building will feature a suite of rooftop and wellness amenities. Residents will have access to an infinity-edge pool, BBQ and alfresco dining areas, sun lounges and a rooftop sauna.&nbsp;

A residents-only gym will be located on the podium level, while a ground-floor café and landscaped laneway will further activate the site and improve neighbourhood connectivity.

[smartcode_project:default project_id=136432 project_image_fid=5488]

BANKSII will rise from a prime Wellington Road site, with the building oriented to overlook the adjacent Raymond Park and take in extensive city views. It is also on the doorstep of key&nbsp;lifestyle infrastructure, including the future Kangaroo Point Green Bridge, The Gabba stadium, and the planned Brisbane Live arena.&nbsp;

Public transport options, including ferry, bus and rail - including the future Cross River Rail Woolloongabba station - are all nearby, supporting a car-optional lifestyle just minutes from the CBD.

Williams said the team spent over a year searching for the ideal site before securing this location.

"We were attracted to <a href="https://www.apartments.com.au/developments/east-brisbane-qld-4169">East Brisbane</a> as it is a vibrant and growing community that offers a perfect balance of urban convenience and natural beauty with the parklands and river on our doorstep.”

The project is part of the broader Woolloongabba Games precinct, which is undergoing significant investment in the lead-up to the 2032 Brisbane Olympics. This urban renewal, coupled with infrastructure upgrades, is expected to enhance long-term liveability and capital growth in the area.

Given the wide max of configurations, BANKSII is expected to suit everyone from first home buyers and investors to families and downsizers.

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BANKSII sales launch in booming East Brisbane apartment market

The Minns Labor Government will deliver Sydney’s first new heavy rail station in more than a decade – enabling up to 10,000 new homes by rezoning land around Woollahra and Edgecliff stations, right next to the CBD, to tackle the housing crisis and rebalance growth across the city.

Recent reports by the NSW Productivity Commission have warned that Sydney is losing twice as many young people as it is gaining, while also finding that Woollahra is the most feasible Local Government Area (LGA) in New South Wales to build new housing.

Despite this, housing approvals in Woollahra consistently lag well behind other LGAs, and the population has declined by 11 per cent over the past 50 years while Greater Sydney as a whole has grown by 74 per cent.

The new station that will be an eight-minute trip from Sydney CBD, will be located on the Eastern Suburbs train line in Woollahra, where a station build was started in the 1970s but never completed.

To enable the delivery of new homes the NSW Government will lead a rezoning of Woollahra and Edgecliff stations similar to other state led rezonings to allow additional homes to be built around the stations.

Affordable housing will also make up a proportion of development on the site with the final amount of affordable housing required, to be determined as part of the rezoning process.

The area surrounding the new station is within walking distance of major green and recreational space including Cooper, Trumper, Rushcutters Bay and Centennial Parks.

The Eastern Suburbs train line between Bondi Junction and Sydney CBD also has the lowest passenger usage rates during the AM peak of any line on the Sydney network, with only 43 per cent of operating capacity during the AM peak currently being utilised by passengers.

Sydney Water and Infrastructure NSW have confirmed there is capacity in the water and wastewater systems to accommodate the proposed 10,000 dwellings without major upgrades.

The rezoning is expected to take around two years and will further support the Government’s housing targets that rebalance the delivery of new homes around existing infrastructure.

&nbsp;

&nbsp;

Next stop Woollahra train station - delivering up to 10,000 new homes in the heart of Sydney

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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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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jonathanchancellor-7SQnKwU6yx

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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