Repeat buyers are one of the strongest measures of confidence in any apartment development.

At <a href="https://www.apartments.com.au/new-apartments/era-newcastle-west-124-126-bull-street-newcastle-west-nsw-2302">ERA</a> in Newcastle West, some purchasers are returning to <a href="https://www.apartments.com.au/developers/gwh">GWH</a> after living at the developer's One Apartments. Their decision to purchase again was driven by the quality of life they found after moving into their first GWH home.

Keith Wilton had spent years living in a house in East Maitland before deciding it was time for a change. Apartment living had always been on his radar, but he was selective about what he wanted.

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"I had some boxes I wanted to tick," he says.

Keith points to the open-plan design, generous outdoor areas and considered inclusions as key reasons One Apartments worked for him.

“One of those things was a nice indoor open plan area, but also I wanted a nice outdoor open area that I could entertain on in summer or Christmases or birthdays,” he says.

He also found value in the smaller details, from integrated appliances to shared resident spaces including the pool, cinema and rooftop areas.

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After comparing several developments, he chose One Apartments because of GWH's longstanding local reputation and his own experience working with the developer on a commercial project more than a decade earlier.

"I knew that they were local, that the quality of the build was going to be up there. I'd looked at other apartment complexes around and close by, and I just knew that here was a better decision location wise."

Today, Keith says the move has completely changed how he experiences Newcastle.

"I enjoy living in this location because it's more of a lifestyle change. That Newcastle city living where you can walk to restaurants and bars and even beaches and parks and even shopping across the road."

[smartcode_project:default project_id=135096 project_image_fid=356828]

Beyond the location, he says it's the sense of community that has surprised him most.

"Everyone loves living here because they chose to live here, but everyone looks out for each other. It's a real great community feel here."

For Aimee and Lyle Goodman, the journey started almost by chance.

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The couple happened to be having coffee in Newcastle when they noticed the site where One Apartments was about to begin construction.

"We were aware GWH was planning a development," Aimee says. "We made one phone call and things moved pretty quickly after that."

As busy business owners, they initially thought apartment living would simply reduce the maintenance that came with larger homes. Instead, it fundamentally changed how they spent time together.

"We actually catch up more as a family now," Aimee says.

"We've had homes with big yards and lots of space, but everyone ended up in different rooms. Here we'll have dinner together, the kids can play, and we spend far more quality time together."

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Lyle says their confidence came from GWH's reputation within Newcastle's building industry.

"I know people who've worked across different apartment projects, and whenever GWH came up the feedback was always the same. They're rock solid. They're quality."

That confidence only grew throughout the buying process.

"One of the things that really impressed us with GWH was the whole process, was the communication," Lyle says. "It was consistent, it was regular, there was no problem if we had some weird questions, there was no problems in getting answers."

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Aimee says one moment stood out.

"The project actually finished on time. We realised we needed to hurry up and sell our house because everything was happening exactly when they said it would."

The positive experience at One Apartments ultimately gave all three buyers the confidence to purchase again with GWH, this time at ERA.

Their confidence reflects what many buyers are seeking in today's apartment market. Location remains important, but so too does certainty around delivery, quality and long-term liveability.

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ERA builds on those foundations with 280 one, two and three-bedroom apartments across two landmark towers in <a href="https://www.apartments.com.au/developments/newcastle-west-nsw-2302">Newcastle West</a>.&nbsp;

Designed by <a href="https://www.apartments.com.au/architects/fk-australia">Fender Katsalidis</a>, the project will include more than 2,000 square metres of resident amenities, including a resort-style pool, gym, sauna, private cinema and rooftop entertaining spaces overlooking the harbour and coastline.&nbsp;

The development is also within walking distance of the Newcastle Interchange, Honeysuckle, Darby Street, the harbour foreshore, restaurants, retail and the city’s beaches, continuing the walkable lifestyle that existing GWH buyers say has transformed how they live.

[smartcode_project:default project_id=135096 project_image_fid=356826]

For Keith, the appeal remains straightforward.

"You feel at home even before you've moved into your home."

For Aimee, the change is measured in time.

“I just felt like I had more time,” she says.

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Construction at ERA is now underway, with more than half of the residences already sold and limited two and three-bedroom apartments remaining in the East Tower release. Priced from $980,000 for two-bedroom residences and $1.46 million for three-bedroom residences, buyers can secure an apartment with a 10 per cent deposit, with premium homes offering ocean views from Level 8 and harbour views from Level 10.

ERA is also backed by Resilience Insurance's 10-year Latent Defects Insurance policy, providing protection against structural or waterproofing defects for 10 years after completion. The project is anticipated to be completed in early 2028.

[smartcode_project_cta:default project_id=135096]

Joel Robinson

From ONE to ERA: Why buyers are choosing GWH again in Newcastle West

Virgate Property Group is preparing to commence construction of Verdé, its new apartment development in Melbourne's Arts Precinct at Southbank, following a strong run of sales that has seen more than half of the project's 173 apartments secured.

Verdé has attracted a broad mix of first home buyers, owner-occupiers upgrading from nearby inner-city suburbs and investors, with younger owner-occupier couples aged between 28 and 45 accounting for the strongest enquiry. Many are already living in Southbank, South Melbourne, Albert Park, Port Melbourne, South Yarra and the CBD.

"Verdé is located in one of the most desirable pockets of southern Melbourne," Blair Property Group Director Darren Blair, who is managing sales at Verdé, said.

"It's within walking distance of the Arts Centre, Royal Botanic Gardens, Albert Park Lake, and Southbank's restaurants and retail. It's a great lifestyle location with strong amenity and liveability, which made it a very attractive choice for the project."

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Virgate was already familiar with the precinct, having previously delivered the successful Domain House development in neighbouring South Melbourne. That experience gave the developer confidence to acquire the Coventry Street site and continue expanding its presence in Melbourne's inner south.

"We had been keeping an eye on the site and the broader precinct for a few months before deciding to move forward with the acquisition," Virgate said.

The project was ultimately secured in 2020 following feasibility studies, planning assessments and due diligence, with the brief centred on delivering "a high-quality, considered design that feels both refined and fit for purpose."

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Designed by <a href="https://www.apartments.com.au/architects/bruce-henderson-architects">Bruce Henderson Architects</a>, Verdé comprises 173 one, two and three-bedroom apartments priced from $599,000. The architecture is distinguished by a faceted glass façade that responds to both the site's outlook and Melbourne's changing light conditions.

According to Bruce Henderson Architects, the coloured glazing gives the building a distinctive identity while also providing privacy and solar shading, with residences oriented to capture views across the bay, city skyline and surrounding parklands.

Inside, <a href="https://www.apartments.com.au/interior-designers/designoffice">DesignOffice</a> has created interiors focused on natural light, efficient planning and enduring materials. Apartments feature engineered oak flooring, natural stone benchtops, floor-to-ceiling glazing and SMEG appliances, while a restrained material palette aims to complement the expansive outlooks rather than compete with them.

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Resident amenity has also been designed around everyday functionality rather than occasional use. Facilities include a concierge-serviced lobby, residents' lounge with fireplace, library and co-working space, gym, terrace garden with barbecue facilities, ground-floor café, and package delivery management.

The project's location continues to be one of its strongest drawcards. Positioned on Coventry Street, Verdé sits within walking distance of the National Gallery of Victoria, Arts Centre Melbourne, Royal Botanic Gardens and Albert Park Lake, while Southbank's dining precinct, Sturt Street trams and the new ANZAC Station are all nearby. The surrounding education catchment also includes Melbourne Grammar, Melbourne Girls Grammar, Mac.Robertson Girls' High School and several major university campuses.

The sales team says buyers have responded particularly well to the combination of location, design quality and long-term liveability.

"They're responding really positively to the quality of the design, premium resident amenities and the uninterrupted views. Many also appreciate the location and how connected it is to everything they need."

The ability to secure stamp duty savings before completion has also been a key factor for purchasers, alongside the opportunity to personalise finishes ahead of settlement.

With construction set to commence soon and more than half the apartments already sold, Verdé enters its next phase as one of the Arts Precinct's more established apartment developments, offering remaining buyers an opportunity to secure a residence before construction advances further. Expected completion is scheduled for late 2027.

[smartcode_project_cta:default project_id=4661]

Virgate's Verdé Southbank moves toward construction as sales fly past halfway stage

Downsizer-focused apartment development Kooyongkoot in Hawthorn has been recognised at the 2026 Better Future Melbourne Design Awards, taking home Gold and Silver awards in two categories.

<a href="https://www.apartments.com.au/new-apartments/kooyongkoot-hawthorn-1-kooyongkoot-road-hawthorn-vic-3122">Kooyongkoot</a>, currently being delivered by developer PQD and designed by Cera Stribley, received Gold in the Interior Design – Proposed category and Silver in the Architecture – Proposed category.

The dual recognition reflects the design approach behind the boutique development on prestigious Kooyongkoot Road, where the focus has been on creating homes for downsizers seeking the space, quality and functionality of a detached house within a low-rise apartment building.

Rather than maximising apartment numbers, <a href="https://www.apartments.com.au/developers/pqd">PQD</a> and <a href="https://www.apartments.com.au/architects/cera-stribley-architects">Cera Stribley</a> limited the development to just 18 residences, allowing for larger floorplans, greater privacy, generous landscaping and expansive communal spaces.&nbsp;The majority of the apartments also benefit from corner aspects, allowing for dual sources of natural light.

Now around 70 per cent complete and on track for completion in November 2026, Kooyongkoot will comprise a mix of garden residences, ter​race apartments, sub-penthouses, and is crowned by two half-floor penthouses with direct lift access and private rooftop terraces.

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The Silver Award for Architecture recognised the way the building responds to its prominent corner position at the ent​rance to Hawthorn's Scotch Hill precinct, one of Melbourne's most established residential neighbourhoods.

Rather than competing with the grand homes that line Kooyongkoot Road, the architectural approach focused on restraint and longevity, using curved brickwork, generous landscaping and carefully considered proportions to integrate with the existing streetscape.

"The form feels fluid and timeless, as though shaped by the landscape itself – architecture that belongs, rather than competes," said Chris Stribley, Co-Founder and Managing Principal of Cera Stribley.

The judging submission also highlighted practical innovations throughout the building, including lift cores servicing only nine homes each, a central landscaped lightcourt designed to bring daylight and ventilation into the building, and fully enclosed private storage rooms with lighting, power and shelving to better accommodate residents transitioning from larger family homes.

[smartcode_project:default project_id=102717 project_image_fid=355293]

The Gold Award for Interior Design recognised the project's focus on long-term liveability rather than display-home aesthetics.

According to the awards submission, the interiors were designed from the inside out, prioritising how homes would function over decades of daily use through generous proportions, practical storage, durable natural materials and flexible layouts.

The specification includes natural stone throughout, upgraded acoustic glazing, V-ZUG appliances and fully enclosed storage rooms, alongside an amenity offering focused on wellness, entertainment and everyday convenience.&nbsp;

Residents will have access to a gym and yoga studio, a wellness centre featuring traditional and infrared saunas, a cold therapy shower and treatment room, as well as a residents' lounge and golf simulator/cinema room for entertainment.&nbsp;Kooyongkoot has also considered the everyday convenience of its residents by offering a private carwash and pet wash facilities on site as well as dedicated parcel lockers and oversized fully enclosed storage rooms.&nbsp;

[smartcode_project:default project_id=102717 project_image_fid=355303]

The project's attention to detail has already resonated with buyers. Earlier this year, Kooyongkoot recorded one of Boroondara's highest apartment sales when an $8 million penthouse was purchased by a Melbourne CEO downsizing from a nearby family home.

"Every detail feels deliberate, from the overall design down to the smallest touches," the purchaser said.

"The level of quality and refinement is exceptional, but what really sold it was how liveable it felt... It felt like a place where everything had been considered, not just a luxury building."

[smartcode_project:default project_id=102717 project_image_fid=355304]

Sustainability also formed a key part of both award submissions. Kooyongkoot is targeting a minimum 7.5-star NatHERS rating across all residences, supported by passive design principles, high-performance glazing, EV charging infrastructure, water reuse systems and a wellness model focused on lower-energy dry facilities rather than pools and large wet areas.

Located within walking distance of Scotch College, Methodist Ladies' College, Koo​yong Lawn Tennis Club, Aubur​n Village and Camberwell Junction, Kooyongkoot continues to target owner-occupiers looking to remain in Melbourne's inner east without compromising on space or quality. A limited selection of two, three and four-bedroom residences remains available, with prices starting from $1.9 million.

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Kooyongkoot wins Gold and Silver at Better Future Melbourne Design Awards

New apartment supply has become increasingly constrained across <a href="https://www.apartments.com.au/developments/parramatta-nsw-2150">Parramatta</a> in recent years, with fewer projects progressing through to completion as development conditions have become more challenging.

It makes <a href="https://www.apartments.com.au/developers/novm">NOVM</a>'s 2021-completed <a href="https://www.apartments.com.au/buildings/the-lennox-parramatta-12-phillip-street-parramatta-nsw-2150">The Lennox</a> one of the most recently completed residential towers on the Parramatta River, and among the newest apartment developments in Sydney's second CBD.

With the project largely completed before the sharp escalation in construction costs and inflation following the pandemic, The Lennox is now offering pricing that would be difficult to replicate in a comparable new development in Parramatta today, or across much of Western Sydney.

The majority of the 413 apartments at The Lennox sold before and shortly after completion. A limited release of the remaining apartments has recently been brought to market by capital partner <a href="https://www.apartments.com.au/project-marketer/equitifund-group">Equitifund</a>, with entry-level pricing from $700,000 and two-bedroom apartments available from under $1 million.

Rising above the Parramatta River at 12 Phillip Street, The Lennox comprises one, two, three and four-bedroom apartments, appealing to first home buyers, young professionals, families, downsizers and interstate investors seeking a completed apartment in one of Australia's fastest-growing economic centres.

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Rather than positioning Parramatta as an alternative to Sydney's CBD, Equitifund believes the city has reached a point where it stands on its own merits.

"Parramatta is no longer simply an alternative to Sydney CBD, it's becoming a destination in its own right," Equitifund Executive Chairman Greg Huxley said.

"The Lennox captures that evolution with a level of quality and amenity that's difficult to match at its price point."

[smartcode_project:default project_id=5743 project_image_fid=953]

Designed by <a href="https://www.apartments.com.au/architects/marchese-partners">Marchese Partners</a>, the tower responds directly to its riverfront setting through expansive glazing and open-plan layouts that maximise views across the Parramatta River and city skyline. Interiors feature engineered timber flooring, stone benchtops, stainless steel appliances and floor-to-ceiling glazing, while generous balconies extend the living spaces outdoors.

Marchese Partners says the project was conceived to balance high-quality apartment living with practical, long-term functionality, pairing larger, efficient floorplans with amenities more commonly associated with five-star hotels.

That emphasis continues through the resident facilities, which include a 20-metre rooftop swimming pool, fully equipped gym and wellness spaces, full-time concierge, a residents' lounge, function room, private lifts, secure basement parking and rooftop communal areas overlooking the Parramatta River. Ground-floor boardwalk retail and dining further activate the riverfront and integrate the building into the surrounding public realm.

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Australian housing and finance group Equitifund has secured the remaining apartments, believing there are few completed apartment opportunities in Parramatta that offer the same combination of location, amenity and pricing.

Equitifund National Sales Director Ben Hamblett says buyers are increasingly recognising that premium apartment living no longer needs to come with Sydney CBD pricing.

"The Lennox is where aspirational living becomes attainable," Hamblett said.

"Wake to river and mountain views, step into Sydney's Second CBD, and arrive home to resort-calibre amenities, all without the harbour price tag."

Hamblett says owner-occupiers are also attracted by the convenience of having Westfield Parramatta, Church Street's dining precinct, Parramatta Park, Riverside Theatres, Western Sydney University and major transport connections all within walking distance.

"At The Lennox, lifestyle is not an afterthought, it is the foundation."

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The Lennox places residents within walking distance of Parramatta Square, Westfield Parramatta, Church Street Eat Street, Parramatta Station, the ferry wharf, Light Rail, the future Sydney Metro West, Parramatta Park and CommBank Stadium, reinforcing Parramatta's position as one of Australia's most connected metropolitan centres outside Sydney's CBD.

Equitifund says buyers visiting the display suite consistently comment on the quality of the finishes, generous floorplans, river and skyline views, and the walkability of the location. The project has attracted a broad mix of local professionals, upsizers, downsizers, buyers relocating from Sydney's inner suburbs and interstate investors seeking long-term growth opportunities.

That demand aligns with Parramatta's continued evolution as an economic powerhouse. Equitifund Research and Market Insights specialist John Bekiaris says sustained population growth, infrastructure investment and expanding employment opportunities continue to support long-term housing demand across the city.

"Parramatta has evolved from a satellite city into one of Australia's most important economic centres. Population growth, infrastructure investment and employment are all supporting sustained long-term housing demand."

[smartcode_project_cta:default project_id=5743]

The apartment price gap drawing Sydney buyers west

A luxury beachfront apartment at Rainbow Bay has more than doubled in value since it sold off the plan six years ago, setting a new local apartment record in the process.

The three-bedroom apartment in the Flow development on Petrie Street, the first of four new projects locally by Paul Gedoun's S&amp;S Projects, has sold for $7.4 million, after originally selling for $3.27 million when the project launched in 2020.

The seventh-floor apartment, comprising 187 sqm of internal living space and a 54 sqm balcony overlooking Froggies Beach and Snapper Rocks, was purchased by a local family.

The transaction was negotiated by Pezet Matheson director Kerry Pezet and equates to more than $30,000 per sqm.

Pezet said the sale reflected the limited opportunities to buy into the boutique beachfront development.

"The sale highlights the rarity of opportunities within the boutique beachfront development, where residences seldom become available," Pezet said.

"Flow is one of the Gold Coast's most tightly held buildings. Buyers from our database move quickly when residences become available, and achieving an off-market sale at $7.4 million demonstrates the depth of demand for property of this calibre."

<img alt="Flow" data-entity-type="file" data-entity-uuid="c585b206-2130-4eee-a50c-3f27c51a7c70" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-07-06%20at%208.33.25%E2%80%AFPM.png?VersionId=m3pHRDV62Y3fvN.XQuQHq.52ilTWpRLf" />

Flow was the first of four luxury apartment developments delivered by Paul Gedoun's S&amp;S Projects at Rainbow Bay and was completed in 2023.

Positioned on the beachfront overlooking Snapper Rocks, the residence includes three bedrooms, three bathrooms, a powder room and views stretching north along the coastline towards Surfers Paradise.

Pezet Matheson Residential principal Mitchell Lambert said buyers continued to prioritise quality beachfront apartments in tightly held locations.

"Flow Residences offers a rare combination of elevated beachfront positioning, architectural excellence, comprehensive resident amenity and premium finishes, which is exactly what discerning purchasers are seeking," Lambert said.

"The transaction further reinforces Rainbow Bay's reputation as one of Australia's premier coastal lifestyle destinations, where limited supply and growing demand continue to support strong market performance."

Pezet Matheson originally marketed and sold out Flow off the plan, making the latest transaction a return to one of the project's original buyers.

Paul Gedoun is selling his third project, <a href="https://www.apartments.com.au/new-apartments/radia-rainbow-bay-271-boundary-street-coolangatta-qld-4225">Radia Rainbow Bay</a>, after recently completing, and selling out, <a href="https://www.apartments.com.au/buildings/esprit-217-227-boundary-street-coolangatta-qld-4225">Esprit</a>. He has plans for a <a href="https://www.apartments.com.au/news/qld/first-look-s-s-projects-proposes-88-apartment-wellness-tower-at-coolangattas-boundary-street">fourth building</a>, 88 apartments on <a href="https://www.apartments.com.au/new-apartments/209-213-boundary-street-coolangatta-qld-4225">Boundary Street</a>.

Rainbow Bay apartment doubles in price since off the plan sale during pandemic

Industrial Property

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Sale activity of the latest stage of the Empire Industrial Estate in Yatala has been strong, with 21 sites sold for a total of $16.5 million in recent weeks.
Nine lots remain ranging from 2,200 square metres to 6,221 square metres and available from approximately $270 to $325 per square metre.
Marketing agent Paul Bates of Coldwell Banker said the strong sales activity is a result of the developer's effort to provide a product that meets current market demand.
“We have had a number of buyers secure a site for their own business and then decide to purchase a second lot for investment purposes,” he said.
Bates said Yatala represents value for money in comparison to other industrial areas on the Gold Coast, such as Ashmore and Molendinar.
“The location of Yatala, midway between Brisbane and the Gold Coast - the two largest consumer markets in Queensland - has made it a logical choice for expanding businesses looking to relocate into a modern premises,” he said.
Developer Tony Stephens, of The Stephens Group, said the estate has not only attracted local Gold Coast businesses, but also companies from greater Brisbane and interstate.
"It's positive to see local companies choosing to re-invest in the Gold Coast, which means the revenue and employment generated from these businesses is benefitting our city," he said.
Stephens says designs are now being finalised for buildings in stage four, which are expected to start in April and be completed in the last quarter of 2017.
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j.ballantyne1990-6AQqhLzZaK

Strong sales activity at new industrial estate in Yatala

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Investor demand in Sydney for industrial assets remains strong, according to HTW's February 2017 update.
The valuation firm says there is healthy interest from offshore investors in larger scale assets in the west with long-term, strong lease covenants and established tenant profiles compressing yields sharply to record sub 5-6% yields. Prime initial yields in the west compressed by a further 15 basis points from June to September 2016 on the back of strong investment volumes.
Owner occupiers have been strong in the Sydney market, particularly in the construction, food retail and technology sectors and primarily driven by record low interest rates. The strong competition for assets has driven capital values higher and has seen yields firm with effective rents across Sydney increasing by an average of 5%. This has seen investors enter the secondary market in the search for higher yields.
“With prime yields compressing, we anticipate that the spread between prime and secondary industrial assets will tighten over the coming 12 months as investors look for higher performing returns with development upside,” the report said.
Average rental growth performance is strong, with net effective rents up by 3% year on year, higher than their 10 year average growth rate of 2.3%.
Incentives have eased slightly to around 15% over the past six months as a result of this strong demand, however rental pricing remains a significant driver of tenant demand.
Owner occupiers remain dominant in the city fringe, north and south Sydney.
In the strata unit market popular amongst owner occupiers, recent off the plan developments have seen significant increases in capital values rising by over 30% in the past 18 months.
According to NSW government figures, Sydney will benefit from the largest infrastructure spending of any state in Australia to 2020. An estimated $73.3 billion is slated, including $20 billion dollars in just one year. Budget allocations include approximately $9 billion dollars for rail projects, $2.5 billion dollars on upgrades to Sydney’s road infrastructure and over $4.5 billion dollars on health, education, water security and sports infrastructure.
Western Sydney is predicted by HTW to be a major recipient of the spending which will place it at the epicentre of Sydney’s industrial growth throughout 2017 and beyond. As well as the significant investment in infrastructure, this is driven by the availability of labour and (comparative) availability of land, above trend population growth and corresponding increase in demand for services.
“The lack of available land in traditional, inner city industrial precincts in areas such as Marrickville, Redfern and Alexandria, due to high land values, rezoning for high density mixed use, residential use and gentrification, places Western Sydney in a prime position for future growth,” HTW said.
“As an example, from a rental perspective, pricing for an industrial facility in Alexandria is typically $150 to $250 per square metre on a net face basis, however after an office conversion these rents escalate to between $350 and $425 per square metre.
“With the Sydney market being somewhat isolated from the impact of the auto industry shutdown, volatility in the resources sector and mining investment, commodity price volatility and residential property downturn (thus far), we expect industrial effective rents to rise in the next 12 months by between 3 percent and 5 percent.”
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jonathanchancellor-7SQnKwU6yx

Demand for Sydney industrial property remains strong: HTW

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The local economic situation in Queensland remains stable with Emerald and Brisbane reporting steady growth, according to Herron Todd White’s (HTW) latest monthly market report.
The property advisory firm says that the volume of industrial properties being sold remains at a stable rate, although some cities, such as Townsville and Gladstone, are reporting an oversupply of industrial properties.
<a href="/images/2016/10/14/QLD%20industrial.jpg" target="_blank">Click to enlarge</a>
<img src="/images/2016/10/14/QLD%20industrial.jpg" alt="">
HTW notes there is significant value differences between quality properties with national tenants and comparable properties with local tenants throughout QLD regions, with the exceptions of Cairns, Rockhampton, Gladstone and Toowoomba which are reporting only a small difference.
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Queensland's local industrial markets remain stable: HTW

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A local owner-occupier has paid $8.6 million for an office/warehouse complex at Hornsby in Sydney’s north-west in an off-market deal brokered by Savills Australia.
The 29-33 King Road property comprises 4,697 square metres of industrial office and warehousing across three buildings, including 3918 square metres of warehouse and insulated cool room space and 779 square metres of office space. 
The property — one of the largest industrial facilities in the Hornsby Industrial Precinct — was sold subject to a short-term lease to integrated ovens and baking systems maker, Auto-Bake. 
Selling agent Leigh Burges of Savills said the buyer was seeking a spacious and well-presented facility with an efficient layout, including cranes and truck marshalling areas, in a good location.
The King Road location offers quick access to the M1 and M2 motorways, Burges said.
The vendor was a private investor.
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Owner-occupier pays $8.6 million for warehouse in Sydney’s Hornsby through Savills

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The industrial market in South West Sydney is emerging as a competitive playground for developers and owners/occupiers as shortage of stock pressures the market. 
Reflecting the area’s investment appeal, a private investor recently purchased a freestanding industrial property at Condell Park for $5.3 million from Marion Developments Pty Ltd through CBRE.
Located at 390-396 Marion Street, the 12,100 sqm site comprises a 4,000 sqm building area, featuring high clearance warehouses split across three separate buildings.
Selling agents Ryan Jennings and Tom Rourke of CBRE said there was high demand for freestanding property in Sydney’s west.
“Western Sydney continues to be one of Sydney’s most sought after real estate markets, with both residential and commercial developers looking to gain a footprint in the tightly held area,” said Jennings. 
“As industrial and logistics users trend away from the tightening South Sydney and inner west industrial market, industrial areas situated further along the M5 such as Condell Park and Bankstown have seen keen interest from investors and owner occupiers,” added Rourke.
The property is nearly 33 km from Sydney CBD and has access to the M5 motorway.
 
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Condell Park’s $5.3 million sale highlights industrial demand in western Sydney

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A large Williamstown industrial site has sold under the hammer for $2.9 million.
The 7,081 sqm site at <a href="https://www.realcommercial.com.au/property-industrial+warehouse-vic-williamstown-501937546">64 Tennyson Street</a> was sold to a developer.
It has a combined 241 sqm frontage to Fink Street, Chelmsford Street and Tennyson Street.
Fitzroys agents Chris Kombi and James Gregson handled the auction campaign, in conjunction with Grita Angelucci and Sam Nadde of Property Au.
The site was offered with opportunities for investors, owner occupiers and developers, according to Chris Kombi.
It receveieced more than 60 enquiries throughout the campaign.
Gregson said the property is located in an established and highly sought after industrial precinct in Melbourne’s inner west, with the owner planning to divide the site into around 30 office/warehouse buildings. 
 
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Williamstown industrial site sold for $2.9 million

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East Coast industrial vacancies have risen for the first time in a year, driven by a 6.2 percent increase in Melbourne, although Sydney and Brisbane recorded small declines over the quarter, according to the latest Industrial Vacancy Analysis research report by Knight Frank.
The total industrial vacancy on the East Coast currently sits at 2.19 million square metres, with a 2.3 per cent increase recorded over the past quarter. However, total vacancy fell by 8.3 percent over the past year, with Sydney driving this result, down a staggering 39 per cent over the year to April 2016.
Sydney was the standout market over the past year, recording a two per cent fall in vacancy over the past quarter to 482,820 square metres, said Knight Frank’s Group director of Research &amp; Consulting, Matt Whitby. 
Over the past year, however, vacancies have fallen from a peak of 807,485 square metres in January 2015.
“Sydney has seen a steady upward trend in leasing deal volumes, resulting in above-average stock take up for the past nine consecutive quarters. This is a result of a number of factors, including increased economic activity, particularly in the household goods and construction sectors, and high demand in the Sydney area due to the development of key infrastructure projects. However it is also due to large institutional owners moving tenants among portfolio assets,” he said.
Brisbane recorded a fall in vacancy for the third consecutive quarter, down by nine per cent since the recent peak in mid-2015, taking the total to 636,288 square metres. “Despite the recent improvement, the vacancy remains 51 per cent above the long-term average and tenant demand is still patchy. However, the vacancy level within existing assets should continue to decrease with tenants having the opportunity to upgrade their accommodation at lease end on competitive terms.”
“The Melbourne market continued its recent steady growth in vacancies, with a 6.2 per cent increase recorded over the past quarter to over a million square metres now available (1,074,788 square metres). This increase was dominated by prime stock (up 16 per cent), as secondary vacancy actually fell by two per cent over the quarter,” Whitby said. 
According to Whitby, although the level of vacant industrial space across the Australian East Coast market rose modestly over the past quarter, both prime and secondary vacancy fell over the past year, down by seven percent and nine percent respectively.
“Despite prime stock being highly in demand by industrial occupiers, given it is new and able to be tailored to individual businesses’ needs, the proportion of prime stock available now outweighs secondary stock across the East Coast.
“The key factors are due to current market conditions – cost-conscious occupiers are looking towards secondary stock. In addition, the emergence of new stock on the market has driven up availability.”
According to Whitby, “As at April 2016, the proportion of total vacancies made up of prime stock is now 53 per cent of East Coast industrial vacancies, up from 45 percent two years ago, and 37 percent three years ago.”
Whitby said that the preference in the market for prime space is clear to see, with 59 percent of take-up recorded being within prime accommodation over the 12 months to April 2016. The greatest bias to prime absorption was seen within the Sydney and Brisbane markets where 71 percent and 60 percent respectively of the annual take-up was prime space. In Melbourne, prime space accounted for only 48 per cent of take-up over the 12 months to April 2016.
Knight Frank’s head of Industrial, Greg Russell, said that following a softer pipeline of speculative stock over the past year, the April quarter saw the level of speculative stock available increase by 12 percent across the Australian East Coast market. 
“The interesting statistic this quarter, is that the level of speculative stock under construction has jumped 17 percent over the past quarter and more than doubled over the past year, from 53,500 square metres to 108,000 square metres currently, however, the speculative space completed but remaining vacant fell 31 per cent over the past year to 113,719 square metres.” 
“This has been predominantly driven by an increase in take-up for completed speculative product, coupled with new speculative commencements, as confidence returns in the markets, particularly in Sydney.
“The major institutional developers still have a healthy pipeline for further speculative development, and it will only take a few commitments to really see the speculative construction levels spike later this year and into 2017.”
Russell added that while the level of larger vacant options has been increasing in Melbourne, they have fallen in Sydney and Brisbane. The general trend towards upgrading accommodation by tenants means that prime, larger options will continue to attract solid demand and hence take-up. In Sydney, there are only eight prime opportunities above 10,000 square metres (down from 15 a year ago), while 23 over 10,000 square metres exist in Melbourne (up from 14 options a year ago), and there are 11 prime vacancies above 8,000 square metres in Brisbane (compared to 11 a year ago).
<a href="/images/2016/05/16/Screen%20Shot%202016-05-16%20at%2011.07.43%20AM.png" target="_blank">Click to enlarge</a>
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Brisbane
In Brisbane’s industrial sector (3,000 sqm+), total vacant space during the first quarter of 2016 fell by slightly to 636,288 square metres, but was down 6.4 per cent from a year ago (680,151 square metres).
Knight Frank’s joint head of Industrial Queensland, Mark Clifford and Chris Wright said, “The pre-lease market has been quite active and has contributed to the slow reduction in the vacancy levels. A flight to quality is evident and will continue whilst aggressive leasing deals are on offer.
“Pre-committed new construction is expected to provide further backfill vacant space over the course of 2016 with Beaumont Tiles, Couriers Please, Lindsay Bros Transport and OI all expected to make significant relocations during the year.
“We believe a series of imminent commitments will provide a solid boost to the leasing market. Tenants 6,000 square metres plus with a sufficient lead time will continue to be attracted to new construction as the low yield environment for long WALE assets supports construction at relatively lower rental levels."
Sydney
In Sydney’s industrial sector (5,000 sqm+), solid leasing activity has underpinned a decline in total vacant space, reducing 1.9 per cent during the first quarter of 2016 to 482,820 sqm.
Tim Armstrong, head of Industrial, NSW said, “Sydney’s industrial vacancies are now at a series low, which was the result of above average gross take up which measured 190,337m² over the past quarter, 35 per cent above the series average.
“Recent leasing demand has been primarily driven by 3PL groups as businesses continue to outsource logistic functions; however, there have been increased enquiry levels from pharmaceutical/medical operators in recent months.”
In terms of location, the Outer West continues to underpin leasing demand, accounting for 44 per cent of gross take-up over the first quarter of 2016 as four 10,000 sqm+ options were leased. However, a number of large backfill leasing options are starting to come back onto the market including the DHL backfill space at 227 Walters Road, Arndell Park which will partly offset above average leasing demand.
“While a number of speculative developments have been added to vacant stock levels over the past quarter, the reality is they aren’t remaining vacant for too long. In the first quarter of 2016, 25,442 sqm of under construction speculative stock was leased, highlighting the drive for operational efficiencies and demand for modern stock. Currently, unleased speculative stock measures 59,602 sqm, all of which is under construction with no vacant completed speculative stock available," said Armstrong.
“The generally positive outlook for the NSW economy is expected to see a continuation of solid leasing activity, particularly as there are a number of large briefs in the market which should crystallise into gross absorption throughout 2016,” said Armstrong.
<a href="/images/2016/05/16/Screen%20Shot%202016-05-16%20at%2011.10.18%20AM.png" target="_blank">Click to enlarge</a>
<img src="/images/2016/05/16/Screen%20Shot%202016-05-16%20at%2011.10.18%20AM.png" alt="" width="720" height="481">
Melbourne
Knight Frank’s senior director, head of Industrial Victoria, Gab Pascuzzi, said the impact of the upcoming closure of the automotive manufacturing and supply industry will start to come into fruition at the end of 2016. “To date this has had minimal impact on the industrial market, however we anticipate this will put increased pressure on vacancy rates across traditional industrial locations in 2017; predominantly across lower-grade secondary stock.
“Over the past 12 months, we have seen an increase in pre-commitment activity across Melbourne. Given the shortage of prime existing options in the market combined with increased tenant demand, we anticipate prime backfill space from the likes of Target and The Reject shop coming to the market later this year will be will be absorbed quickly.”
According to Pascuzzi, “The south-east region recorded the highest level of leasing activity since Q1 2010, totalling 70,995 square metres. However, we are seeing pressure in the market with a lack of large existing options notably in the West, with just two vacant stock options above 20,000 square metres.”
<a href="/images/2016/05/16/Screen%20Shot%202016-05-16%20at%2011.12.47%20AM.png" target="_blank">Click to enlarge</a>
<img src="/images/2016/05/16/Screen%20Shot%202016-05-16%20at%2011.12.47%20AM.png" alt="" width="760" height="504">
Perth
In Perth’s industrial sector (2,000sqm+), vacant industrial space in Perth increased by 16 per cent over the past quarter to 647,746 square metres, a series high.
Knight Frank’s senior director, head of Industrial WA, Jarrad Grierson, said Perth’s industrial market continued to be affected by the slowdown in the resources sector and relatively low market confidence with escalating levels of vacant space in the market.
“The Perth industrial market has a high correlation with the resources sector where companies are currently sitting idle or downsizing, triggering downward pressure on rental rates. Some businesses are taking advantage of the softer market conditions and looking to upgrade into better quality accommodation in a better location.
“Vacancy in secondary-grade buildings increased by 22 per cent over the past quarter and almost doubled over the past year and now accounts for 76 per cent of total stock. This is in stark contrast to the prime market, where vacancy was unchanged over the past quarter and actually fell by 24 per cent over the year.
“There continues to be a demand for sublease space in the market as these properties offer competitive rents and incentives in order to replace tenants. Activity in the market is also evident from pre-leasing activity that has occurred in the last 12-24 months.
“The market had 200,000 square metres of newly developed pre-lease space come on line, including a 42,000 square metres warehouse pre-leased to K-Mart in Jandakot in February. Moving forward this will continue to impact the level of backfill space once occupiers relocate into new industrial space,” concluded Grierson. 
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East Coast industrial vacancies rise for the first time in a year: Knight Frank

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A total of 135 industrial properties were sold over the year to December 2015 with a total value of $,1,894 million, with Melbourne's North West region netting the greatest dollar volume, according to Savills.
According to Savills, Melbourne’s South East recorded the most number of transactions in the year to December 2015 with 74 (55 percent of all sales), with North West region having the greatest dollar volume with 52 percent of the total transaction value for the year.
Foreign investors and institutions represented the largest buyer categories in the North West by value of all stock, at 24 percent and 56 percent respectively.
Private investors made up 11 percent of total sales volume.
<a href="/images/2016/03/14/Screen%20Shot%202016-03-14%20at%204.15.15%20PM.png" target="_blank">Click to enlarge</a>
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Melbourne's North West sees high industrial property transactions

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The industrial property market in Mildura has generally held up well during 2015, according to valuation firm Herron Todd White.
In the HTW month in review they show that vacancy rates, particularly for modern premises, remain relatively low and rental levels have been maintained.
Having said this however, the report goes on to suggest that there have been relatively few sales and so far only one above $1 million (compared to three sales over $1 million in 2014).
"The sales that have occurred have generally shown yields of around 9%.
"In 2015 we have seen some development start in the section of Benetook Avenue between Fourteenth and Fifteenth Streets.
"Development in this strip has been held up for many years by the cost of connecting to stormwater drainage infrastructure.
"With little remaining vacant land in Mildura’s traditional industrial area, it is a welcome sight to see development now moving further along Benetook Avenue, filling in one of the last remaining gaps in one of our main arterial roads."
 
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Mildura commercial property market holds: Herron Todd White

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A private investor has quickly purchased a brand new industrial facility in Eastern Creek’s Turn4 subdivision for $2.55 million, setting a new price record in the Western Sydney region in the process.
Located at 78 Peter Brock Drive, the property comprises a 1,113sqm building situated on a 2,039sqm site.
The building offers concrete panel construction, a column free warehouse with 8.8 metre internal clearance, two roller shutter doors and a ground floor reception area.
CBRE’s John Micallef and Matt Flynn, who negotiated the sale on behalf of a private owner, said there were a number of interested parties pursuing the property due to a lack of stock on the market, as well as the quality of the development. 
Located in the Eastern Creek industrial precinct, the property offered an opportunity to acquire a freestanding asset in Western Sydney’s industrial market.
The property was sold with vacant possession, however, the purchaser has appointed CBRE to lease the property.
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