Melbourne developer Spacious Group has completed Voyage Altona, one of the closest new apartment developments to Altona Beach.

Off the plan purchasers have started moving into the 49-apartment project on Pier Street, with the remaining move-in-ready one-, two- and three-bedroom apartments starting from just over $500,000.

Display apartments have now been fitted out, allowing prospective buyers to inspect the completed residences by appointment.

[smartcode_project:default project_id=112195 project_image_fid=372638]

The completed apartments feature open-plan living and dining areas which extend onto private balconies and terraces, while full-height glazing maximises natural light throughout the interiors.&nbsp;

Hybrid timber-look flooring, stone benchtops, Miele appliances, porcelain-tiled bathrooms and generous storage feature throughout the building which also features landscaped communal areas, expansive shared terraces, lift access and secure on-grade parking.

Drawing inspiration from its bayside setting, Voyage adopts a restrained palette of warm neutral tones and textured finishes. Many of the apartments take advantage of views across Port Phillip Bay, while the indoor-outdoor living spaces have been designed to make the most of the coastal outlook.

[smartcode_project:default project_id=112195 project_image_fid=3286]

Voyage was developed to address what Spacious Group identified as an undersupply of higher-quality apartment product in Altona, with a focus on owner-occupiers looking to remain within the bayside community.

"Voyage responds to very strong local buyer demand for quality, owner-occupier-focused product," says Barry Plant Projects Director Jarrod Farey, who has handled sales since the project's launch.

"The project delivers an elevated lifestyle proposition, with its design and quality of finish far exceeding anything previously produced in the area, as well as its proximity to Pier Street Village and the beach."

The majority of purchasers have been local downsizers and owner-occupiers looking to stay within the Altona community but who previously had limited opportunities to buy a brand-new apartment.

[smartcode_project_cta:default project_id=112195]

Joel Robinson

Spacious Group completes Voyage Altona in Altona's beachside precinct

Homecorp has secured approval for a $360 million apartment development at Budds Beach, paving the way for one of the Gold Coast's most amenity-rich residential projects to launch later this year.

Gold Coast City Council has approved Lýon Residences, a 32-level tower that will deliver 178 two and three-bedroom apartments across a prominent corner site at 8-10 Acacia Avenue and 25-27 Oak Avenue.

The approval comes as developers continue to invest in premium lifestyle-driven apartment projects on the Gold Coast, where owner occupiers are increasingly prioritising amenity as much as apartment size and location.

<a href="https://www.apartments.com.au/new-apartments/l-on-residences-25-27-oak-avenue-surfers-paradise-qld-4217">Lýon Residences</a> has been designed around a resort-style wellness offering, headlined by a Moroccan-inspired spa precinct featuring treatment rooms, a Nordic sauna and steam room, hot and cold plunge pools, a soaking pool and a residents-only juice bar.

The rooftop will include a heated infinity pool and spa, residents' lounge with private kitchen and bar, gymnasium, yoga and Pilates studio, outdoor entertaining areas and barbecue facilities overlooking the Surfers Paradise skyline.

<img alt="Lyon" data-entity-type="file" data-entity-uuid="2d3e29af-8793-486e-a684-52cef862241f" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-07-15%20at%204.32.26%E2%80%AFPM.png?VersionId=ayG2zpLf3SS6Zy8XmKDcQods4kVWb0gm" />

Homecorp Founder and CEO Ron Bakir said Budds Beach provided the ideal location for the company's latest luxury apartment project.

"Budds Beach represents one of the most unique and sought-after pockets of the Gold Coast, and Lýon Residences has been designed to reflect that sense of rarity and refinement," Bakir said.

The project arrives as wellness continues to become a defining feature of new residential developments both in Australia and internationally.

The latest Global Wellness Institute figures show wellness real estate remains the fastest-growing segment of the global wellness economy and is forecast to exceed $1.8 trillion by 2030. Australia continues to rank among the world's 15 largest wellness real estate markets, with developers increasingly integrating health, recreation and community facilities into apartment projects.

Queensland is also experiencing strong population growth, with the Gold Coast continuing to outperform many other Australian cities as demand for new housing remains elevated ahead of the 2032 Olympic and Paralympic Games.

Bakir said the project had been designed to respond to that shift in buyer expectations.

"Strong population growth and sustained demand across the Gold Coast continue to highlight the need for well-designed new housing supply. Lýon Residences responds directly to this demand while setting a new benchmark for residential living," he said.

Each apartment has been designed to maximise views across the coastline, the Nerang River and the Gold Coast hinterland.

Located just minutes from Surfers Paradise beach and the Broadwater, the development also offers easy access to the light rail network, Broadbeach and Burleigh Heads.

Early site works are underway, with construction expected to commence later this year.

Homecorp approved for Budds Beach apartment tower, Lýon Residences

New apartment developments with uninterrupted, north-facing views over Perth's Swan River are exceptionally rare.

Recognising just how limited those opportunities are, <a href="https://www.apartments.com.au/developers/edge-visionary-living">Edge Visionary Living</a>, one of Perth's most respected builder-developers, targeted <a href="https://www.apartments.com.au/developments/applecross-wa-6153">Applecross</a>, assembling an unrepeatable 6,342 sqm riverfront site on the corner of Moreau Mews and Canning Beach Road to create one of Perth's only new north-facing apartment developments directly overlooking the Swan River.

Today, <a href="https://www.apartments.com.au/buildings/riviere-residences-applecross-59-canning-beach-road-applecross-wa-6153">Rivière Residences</a> offers buyers a unique opportunity to choose between completed residences ready to move into now and off-the-plan homes in the final stage, Rivière West.

[smartcode_project:default project_id=28384 project_image_fid=3823]

Across the completed East and Central buildings, residents are already enjoying the development's luxury amenity, while two of the precinct's hospitality venues are now open.

The completed component of the development gives buyers the advantage of experiencing the finished product firsthand, including its uninterrupted river views, while still having the opportunity to secure a residence in the final stage.

"People are wowed by the view and the quality of the apartments,"&nbsp;Edge Visionary Living Sales Executive, Holly McSweeney, says.

"They're looking for the convenience of lock-and-leave living, but they're not looking to downsize on quality."

[smartcode_project:default project_id=28384 project_image_fid=3826]

The rarity of the development hasn't been lost on prospective buyers, McSweeney says.

For McSweeney, it all comes back to a location that is becoming increasingly difficult to replicate.

"Location, location, location," she says. "We are nestled right on the front of the Swan River. You can never get built out, so wherever you are in Rivière Residences, you've got views of the river forever."

The unique waterfront position has resonated particularly strongly with local downsizers. McSweeney says many buyers are long-time Applecross residents looking to transition from large family homes into a luxury apartment without sacrificing space, quality or the lifestyle they've enjoyed for decades.

<iframe allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" allowfullscreen="" frameborder="0" height="315" referrerpolicy="strict-origin-when-cross-origin" src="https://www.youtube.com/embed/N_FowNW0wu8?si=vb25XFq1wZ-iufAW" title="YouTube video player" width="560"></iframe>

A major focus for Edge in recent years has been resident amenity. Across its apartment portfolio, from beachfront developments in Scarborough to luxury towers in South Perth, the developer has increasingly invested in the spaces beyond the apartment itself.

The strategy has largely been shaped by downsizer demand. Many buyers are moving from large family homes with swimming pools and established gardens. While they're looking to leave the maintenance behind, they don't want to compromise on lifestyle.

At Rivière, <a href="https://www.apartments.com.au/architects/hillam-architects">Hillam Architects</a> designed the resident facilities as an extension of each apartment. A 25-metre heated swimming pool takes advantage of the north-facing river outlook, complemented by a large gym, sauna and steam rooms, private dining spaces, residents' lounges, a cinema, games room, and dedicated wine and whisky rooms.

[smartcode_project:default project_id=28384 project_image_fid=372542]

The waterfront location has also proved to be a major drawcard. Residents are within walking distance of the Raffles Hotel, South of Perth Yacht Club, the Heathcote Cultural Precinct and the cafés, restaurants and boutiques along Ardross Street.

Beyond the location and amenity, McSweeney says many buyers take confidence from Edge's fully integrated development model.

Having delivered apartments across Perth for decades, Edge now designs, develops and constructs its projects in-house, giving the company greater control over quality, delivery and the finished product.

"What I love is when people walk through their apartment for the first time and say, 'This is better than what we imagined,'" McSweeney says. "We hear that all the time."

Completed apartments in the East and Central buildings are now available to inspect by appointment, while Rivière West, the final stage of the precinct, is expected to be completed in the first quarter of 2027.

[smartcode_project_cta:default project_id=28384]

North-facing Swan River views drive demand at Rivière Residences in Applecross

Nearly 60 per cent of apartments at McNab Group's $220 million The Tannery development in Brisbane's West End have sold ahead of the project's public launch, including a suburb-record $2.57 million sale for a two-bedroom apartment.

The early sales campaign has secured buyers for 50 of the project's 87 apartments, highlighting continued demand for larger owner-occupier apartments that combine generous floorplans with premium lifestyle amenities in one of Brisbane's most tightly held inner-city suburbs.

[smartcode_project:default project_id=143337 project_image_fid=374768]

McNab Group Executive Chairman Michael McNab said selling more than half the project before launch reflected changing buyer expectations.

"Selling more than half the project before public sales open tells us buyers are actively seeking apartments that offer something genuinely different," McNab said.

"Today's buyers are looking beyond four walls. They want homes that genuinely enhance the way they live, with spaces that support health, connection and everyday wellbeing."

[smartcode_project:default project_id=143337 project_image_fid=374767]

A key point of difference for the project is the adaptive reuse of the heritage-listed Dixon's Tannery building, which will become The Retreat, a residents-only wellness precinct rather than being redeveloped into additional apartments.

The Retreat will feature a sauna and steam room, hot and cold plunge pools, a commercial-grade gym, Pilates studio, cinema, library, co-working spaces and private dining room. Rooftop amenities will include a swimming pool, landscaped gardens, outdoor entertaining areas and dog-friendly spaces.

[smartcode_project:default project_id=143337 project_image_fid=374760]

Designed by Cottee Parker Architects with interiors by Tom Mark Henry and landscape architecture by Aspect Studios, The Tannery comprises 87 two, three and four-bedroom apartments across 11 levels overlooking the Brisbane River.

Cottee Parker principal Dee Passenger said preserving the original tannery building had been central to the project's design.

"The easy option would have been to maximise the site's development potential with additional apartments. Instead, McNab has chosen to preserve the original tannery as a shared wellness retreat, ensuring this important piece of Brisbane's history remains at the heart of the community."

Passenger said sustainability also played a key role in the design, with materials from the original industrial site salvaged and repurposed throughout the development.

[smartcode_project:default project_id=143337 project_image_fid=374761]

Motiv CEO Carly Cottam said buyers had responded strongly to the combination of larger apartments, wellness facilities and the West End lifestyle.

"We are seeing more buyers looking for homes in the sky that provide the space and functionality of a traditional home, while benefiting from the convenience and lifestyle that apartment living brings," Cottam said.

She said purchasers included both owner occupiers and investors, with demand coming from local buyers as well as interstate purchasers.

Coinciding with the public launch, McNab also announced a partnership with Queensland Ballet, whose neighbouring Thomas Dixon Centre shares historical ties with the original Dixon family.

Located on a 4,465 sqm site at 439 Montague Road, The Tannery overlooks the Brisbane River and is around 10 minutes from the CBD.

Construction is underway, with completion expected in the second half of 2027.

[smartcode_project_cta:default project_id=143337]

More than half of residences sold before public sales as McNab announces significant partnership with Queensland Ballet

McNab's The Tannery nears 60 per cent sold before public release, sets two-bedroom West End record

Iwan Sunito's vision for a landmark mixed-use precinct in Sydney's Inner West has taken a major step forward, with approval granted for the $1.9 billion Five Dock development first unveiled earlier this year.

The approved scheme by <a href="https://www.apartments.com.au/developers/one-global-capital">One Global Capital</a> will deliver an 80,500 sqm mixed-use precinct comprising 840 apartments, integrated hotel accommodation, commercial and retail space, alongside publicly accessible open space designed to create a new destination for the growing suburb.

"This is a significant milestone for One Global Capital and for the future of housing delivery in Sydney," Sunito said.

"The Housing Delivery Authority was established to identify major housing projects capable of delivering meaningful supply more efficiently, and we are delighted that Spencer Street has been recognised as one of those projects.”

He said the declaration reflected the rapid progress achieved since acquiring control of the site.

"In less than seven months we have progressed from taking control of the site to securing entry into one of the NSW Government's most important planning pathways. It reflects the experience of our team, the strength of our consultant group led by Urbis, and our long-term commitment to delivering transformational projects that contribute to Sydney's future."

When the project was revealed earlier this year, Sunito described the opportunity as one of the strongest development sites he had worked on.

"I probably hadn't appreciated the uniqueness of the site until more recently when putting together the concept plans," Sunito said.

"The proximity to the water, and the golf course opposite, is unlike any other part of Parramatta Road. We have a unique position and view corridors over the water that makes this one of the best sites I've worked on."

The development has evolved since its initial announcement, with the approved plans increasing the residential component from the originally proposed 750 apartments to 840 homes while retaining the project's focus on creating an integrated neighbourhood rather than a standalone residential development.

Read more:&nbsp;<a href="https://www.apartments.com.au/news/nsw/a-city-within-a-city-iwan-sunito-flags-1-5-billion-mixed-use-precinct-in-five-dock">"A city within a city": Iwan Sunito flags $1.5 billion mixed-use precinct in Five Dock</a>

The precinct will combine apartments with hotel accommodation, commercial workplaces, retail offerings and public spaces, creating a mixed-use environment intended to serve both residents and the broader Five Dock community. The proposal also continues the collaboration between One Global Capital and internationally recognised architect <a href="https://www.apartments.com.au/architects/koichi-takada-architects">Koichi Takada</a>, whose previous work with Sunito includes Infinity, Arc and Skye North Sydney.

Takada previously said the design was driven by a philosophy of integrating nature into the built environment.

"The concept for this development is born from our design approach to naturalising architecture," Takada said.

"The public realm benefits from biophilic design that integrates generous landscaping, and the development is optimised for natural daylight, airflow and water views to foster wellbeing, sustainability and spaces that foster community interaction."

Sunito has consistently described the project as a "city within a city", with a strong emphasis on creating a destination that extends beyond housing.

"We want to create a development that's not only to be seen, but to be experienced by the whole local community," he said.

The approval comes as Five Dock continues its transformation ahead of the opening of the Sydney Metro West line, with the new Five Dock station set to significantly improve connections between the Inner West, Parramatta and the Sydney CBD.&nbsp;

The precinct will also benefit from its proximity to the Parramatta Road corridor, nearby waterfront parklands and established retail and dining offerings that have made Five Dock one of Sydney's most tightly held Inner West suburbs.

Iwan Sunito secures approval for $1.9 billion Five Dock mixed-use precinct

Industrial Sale

<html><body>
A large scale industrial and logistics distribution centre in Adelaide has been purchased by Primewest for $22 million.
The sales reflects a yield of 6.54%.
Paul Tierney, Gavin Bishop and Sean Thomson of Colliers International listed the 19,020 square metre facility in Salisbury South, on behalf of Tarranganda Pty Ltd.
It was sold with an existing lease to Border Express - a third-generation, family business, which has occupied the property as the sole tenant in excess of ten years.
"Amidst the current Covid-19 health crisis, the focus for investors has now become the occupancy, tenure and covenant solvency for well-located, income producing industrial real-estate", said Gavin Bishop, Head of Industrial Capital Markets for Primewest.
"Given the low interest rate environment and robust underlying fundamentals of the Australian industrial and logistics market, accompanied by the weight in capital chasing defensive industrial investment product, we have seen continued demand from investors domestically and out of Asia, Europe and America."
</body></html>

j.ballantyne1990-6AQqhLzZaK

Adelaide logistics facility sells for $22 million

<html><body>
A large industrial infill development site in Brisbane’s south has changed hands in an off-market transaction. 
The 91,776 sqm corner allotment at 425-479 Freeman Road in the heart of Richlands was bought by the Dexus Australian Logistics Trust (DALT) for $26.5 million. 
Greg Russell of Knight Frank negotiated the sale on behalf of the property owner, fund manager Heathley Asset Management Limited. 
He said major institutional owners were scouring the market for land opportunities, with the availability of sites currently scarce.  
“This particular site was attractive to developers due to the scarcity of such sites, as well as its location close to the Centenary Highway and Ipswich Motorway, which will be attractive to future and potential tenants."
“It also has significant road frontage in excess of 640 metres, providing future tenants with fantastic exposure.” 
Mr Russell saidvthere is a shortage of A-grade opportunities within the precinct, with the adjacent Drive Industrial Estate, owned by Dexus Wholesale Property Fund, completed in 2015 and fully leased. 
The Richlands property is comprised of five adjoining, separately titled lots, with areas ranging from around one hectare to just over four hectares. 
DALT is a circa $2 billion unlisted trust that invests in Australian logistics properties. The trust plans to construct a 55,000 sqm facility on the site, with a flexible design to suit varying tenancy sizes. 
Mr Russell said the sale of the Richlands property was a strong reflection of the appetite from major institutions for well-located infill sites to accommodate their development pipelines and ultimately lead to the growth of their industrial sector holdings. 
“There is a dearth of core investment opportunities, hence development opportunities are filling the void and creating a new level of investment-grade product, including 14.7 metre internal clearances, solar power, LED lighting and super awnings inter alia,” he concluded.
</body></html>

Brisbane industrial infill site snapped up off market

<html><body>
Two older manufacturing facilities positioned in the Campsie Industrial precinct have sold at auction for $4.025 million.
Knight Frank held the listing for 16-18 Harp Street, Campsie located 12.9 km from the Sydney CBD. 
Set on 2,755 sqm of IN2 zoned land, positioned in the tightly held Campsie Industrial precinct and 
The listing said that this asset is well suited for a "wide variety of occupiers or investors seeking a significant value-ad opportunity."
Both warehouses are functional with clearances up to 9.5m.
Warehouse A is 441.9 sqm and Warehouse B 898.35 sqm plus an additional mezzanine.
Both warehouses are currently tenanted on monthly holdover.
</body></html>

Two Campsie manufacturing facilities sold for over $4 million

<html><body>
A Melbourne investor has paid $1.82 million for a warehouse in a sought after precinct of Richmond on Melbourne’s CBD fringe.
Teska Carson’s Tom Maule and Matthew Feld said the property drew four bidders driving the price to achieve a land rate of $6570 a square metre.
Located at 79 Murphy Street, the property comprises a single level, 240 square metre, double-fronted, brick warehouse, with RSD access and two off-street car spaces.
The 277 square metre site, which includes 7.9 metres frontage to both Murphy and Blazey streets, is zoned Industrial 1.
"Richmond has become a very much sought after address for those looking for a location within easy reach of the CBD, at competitive rentals, with both parking and public and private transport access, and within close proximity of Richmond’s popular restaurant and fashion precincts," Maule said. 
The vendor was a private investor.
 <img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2018/3/9/79%20Murphy%20St%20Richmond.jpg" alt="">
</body></html>

Richmond warehouse fetches $1.82 million

<html><body>
Queensland-based boutique property investment management firm OzProp has purchased a fully-leased cold-storage logistics facility for $22 million in South Queensland's Yatala Enterprise Area.
Located on the M1 Pacific Motorway between Brisbane and the Gold Coast, the 7,485 square metre complex is on 2.12 hectares of land and is purchased at a price per square metre of net lettable area of $2,939. 
It features office space, a diesel refuelling depot, workshop, weigh bridge and driver accommodation.
The facility is fully leased to Scott Refrigerated Freightways.
OzProp co-founder, Jorgen van Seters said “with over 1.5 billion tonne-kilometres of goods moved each day in Australia, demographic, economic and retailing trends are clearly supporting very strong growth in the logistics industry which already employs more than half a million Australians.”
Michael Parker, Managing Director of OzProp said the long lease tail, robust and sustainable yield, stable income to an ASX-listed tenant and the defensive location ticks all our boxes.
"It is a good asset class to add to the portfolio and it will be a long-term hold for our investors," he said.
</body></html>

jonathanchancellor-7SQnKwU6yx

South Queensland cold storage facility sold for $22 million

<html><body>
Perth-based fund manager Mair Property Funds (MPF) are set to buy two commercial properties in Melbourne for a combined $20.3 million.
The properties are in Ravenhall and Altona North.
The Ravenhall property, in the Orbis Business Park was built in 2010 and has a land area of 13,930 square metres. The 6,888sqm building is occupied by Australian Pipe and Tubing with a 15-year lease until 2031.
The Altona North property is an industrial warehouse built in 2008 with a land area of 18,410sqm. The 10,056sqm building is occupied by Grace Records Management with a recently agreed 8-year lease that expires in 2025.
Peter Melling, MPF acquisitions manager said the two high-quality assets were identified for their favourable locations and strong lease agreements, which would help bolster the trusts revenue security and income diversity.
“Altona is becoming an increasingly important logistics hub due to its proximity to the Melbourne Port and access to the Princess Freeway and Western Ring Road,” he said.
“Similarly, Ravenhall is a rapidly growing suburb part of the West Growth Corridor Plan, where the population is expected to increase from 210,000 in 2016 to 377,000 people.
“Both properties also offer strong lease covenants with reliable tenants providing investors with a steady income stream.”
Upon completion of the acquisition, the properties will be included in MPF’s Diversified Property Trust, which already holds four commercial assets.
These include a retail premise in Maraoochydore (Queensland), a medical facility in Ellenbrook (Western Australia), an industrial premise in Henderson (Western Australia) and a retail industrial premise in Lynbrook (Victoria).
The acquisition of the Ravenhall and Altona North assets takes the value of properties under management by MPF to $208 million.
</body></html>

Fund manager Mair Property secures two Melbourne commercial properties in $20m deal

<html><body>
An industrial site with development potential in Melbourne's inner-western suburb of Tottenham has sold for $6.5 million to an Asian investor.
The <a href="https://www.realcommercial.com.au/property-industrial+warehouse-vic-tottenham-502305290" target="_blank">213 Sunshine Road</a> site has an area of 16,457 sqm.
The deal was brokered by Mark Talbot of Fitzroys on behalf of Myer Herszberg, the former chairman of InfoMedia.
An Asian investor and landbanker purchased the site, which covers 12 separate titles and has a 9,346 sqm of industrial buildings, on a 4.1% net yield. 
The sale reflected a land rate of $394 per sqm. 
The property is close to Tottenham station. 
Talbot said the site returns a current rental of $304,457 per annum and has the potential for an increase, and presented a variety of development opportunities. 
“The Tottenham and West Footscray area has seen enormous changes with many older industrial buildings making way for smaller modern office/warehouse development. A number of industrial areas have also been rezoned, making way for high density residential developments including townhouses and apartments,” he said. 
Fairfax Media added that a housing estate is also being built opposite 213 Sunshine Road.
</body></html>

Industrial site in Melbourne's Tottenham sells to Asian investor for $6.5 million

<html><body>
A new office and warehouse dual occupancy in Melbourne’s south-east suburb of Huntingdale has been sold to a private investor.
The two units were 308 square metres each, with street frontage and secure on-site parking, built on a 1388 square metre industrial 1 zoned site.
38 Shafton Street sold for $1.15 million, while 32 Hargreaves Street sold for $905,000.
Both are destined for a self-managed super fund, according to Savills associate director Daniel Kelly, who brokered the deal.
Kelly said the were sold with three year leases at a total rental return of $118,000 per annum net plus GST and outgoings.
He said tax advantages available to SMSFs and low interest rates were advantageous for buyers.
“Having the tenancies in place on new leases and the quality of the product coupled with substantial depreciation benefits is an easy fit for a self-managed super fund,’’ Kelly said.
The vendor was a local developer.
</body></html>

jchancellor-FAypfDUnLy

Dual office warehouse units in Huntingdale sold for $2.05 million

<html><body>
A warehouse and office has just been pre-sold by Frasers Property Australia to property fund manager Primewest in Melbourne’s Derrimut for $24 million.
The $23,000 sqm warehouse is on Foxley Court in the West Park Industrial Estate and is on a three-year lease.
The development will comprise a new warehouse spread across 22,500 sqm, a 500 sqm office and 67 car spaces. It is expected to be completed in the fourth quarter of 2017. 
The deal flow in Melbourne’s west had been strong within the last 12 - 18 months, said Anthony Maugeri, general manager Southern Region C&amp;I for Frasers Property.
“Frasers Property will provide a three-year rent support deed to Primewest with construction and marketing of the building commencing shortly,” he said.
 “This is a great opportunity for the businesses to partner in a growing area that lacks quality warehouse investment opportunities. New business partners are also seeking flexible ownership structures and product creation which is what we are delivering.”
Primewest director David Schwartz said the industrial property market was currently one of the most buoyant and sought after in Australia and Primewest was investing heavily in the industrial sector across several states. 
Primewest manages a portfolio in excess of $2.1 billion.
“The West Park Industrial Estate was particularly appealing as there was significant latent demand from prospective tenants,” he said.
The deal was negotiated by Colliers International’s Tony Iuliano.
The West Park Industrial Estate is well connected - the Deer Park Bypass is within one kilometre, providing access to the Western Ring Road, Tullamarine Freeway and Calder Freeway while the Port of Melbourne is within 17 km. 
Major occupiers in the 310 hectare estate include CEVA Logistics, Schenker, Toll, Goodyear, Mitre 10 and Australia Post.
</body></html>

Industrial property in Melbourne's Derrimut presold for $24 million

<html><body>
Australian Unity has paid $12,975,000 on a 7.3% yield for a fully leased office and warehouse complex at Springvale in Melbourne’s industrial south-east, in a deal brokered by Savills.
Located about 21 kilometres from Melbourne CBD, the 1651-1657 Centre Road property comprises 10,987 square metres of buildings including a 9910 square metre warehouse, and office, truck workshop and canteen components, on a 29,640 square metre site.
Savills' Chris Jones and Ben Hegerty, who negotiated the deal, said the property was sold subject to remaining lease tenure of around four years to global warehousing and freight forwarding manager, Mainfreight Distribution Pty Ltd, at an annual rental of $948,000.
Jones said the property offered secure income from a highly regarded international tenant, in an established south-eastern locality with excellent main road frontage.
Hegerty said the property last sold in February 2014 for $10.695 million to MRS/Harmony.
</body></html>

Industrial Sale

Editor's Picks

Have something to contribute?

Developments

New apartments

New townhouses

News

Industrial Sale

Editor's Picks

Receive the latest news stories to your inbox

Have something to contribute?

Developments

New apartments

New townhouses

News