Builder-developer ALAND has drawn back the curtain on its first city-focused new apartment development.

The North Sydney development, <a href="https://www.apartments.com.au/new-apartments/the-walden-north-sydney-173-179-walker-street-north-sydney-nsw-2060">The Walden</a>, is the first time the company has ventured this close to the city, having previously completed thousands of apartments predominantly in Sydney's west, and more recently in Gosford.

<a href="https://www.apartments.com.au/developers/aland">ALAND</a> acquired the prime North Sydney site, spanning Walker and Hampden Streets just down the road from the Victoria Cross Metro station, for $240 million in June.

Now they've unveiled the new project, a mix of one-, two-, three- and four-bedroom apartments across a 30-level building designed by Rothelowman.

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The Walden will capitalise on the site’s front-row position on the eastern fringe of the <a href="https://www.apartments.com.au/developments/north-sydney-nsw-2060">North Sydney</a> CBD, which offers uninterrupted Sydney Harbour views stretching from the Sydney Harbour Bridge all the way to Sydney Heads.

The main tower will be flanked by a small four-level amenity building known as The Pavilion, offering exclusive resident-only amenities including a dedicated concierge service, a sauna and private wellness studio, a gymnasium and fitness studio, a resort-style rooftop pool and sundeck.

There will also be a&nbsp;residents’ lounge, private dining and a wine cellar, and co-working facilities with an on-site meeting room and boardroom.

&nbsp;

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ALAND Founder Andrew Hrsto said the company knew they could create something "iconic" with The Walden when they saw the site.

&nbsp;

“As a company, we had been searching for a site in one of Sydney’s blue-chip locations, spanning the Eastern Suburbs, the Sydney CBD and the North Shore, and when we had the opportunity to purchase this site, we immediately recognised that it could be something iconic – being the last development with a view offering this exceptional.

“We identified the attributes and quality of the site as being perfectly aligned for ALAND – and we feel that this off-market acquisition is a perfect opportunity to showcase our craftmanship and expertise through a truly unique offering."

[smartcode_project:default project_id=134323 project_image_fid=6399]

Hrsto pointed to ALAND’s longstanding development expertise as a significant benefit in delivering a positive outcome for The Walden.

“Being a fully integrated development and construction business with a highly experienced team, we have the benefit of in-house experts across the development spectrum, from acquisitions, design, planning, and construction, to sales, marketing, property management, through to building management.

“As one of Australia’s largest private development and construction groups, we’ve been in operation for 23 years, with a Gold Star iCIRT rating and a 100 per cent delivery success rate across numerous masterplanned and mixed-use projects – and we’re very much looking forward to bringing this expertise to The Walden and contributing to the ongoing revitalisation of North Sydney."

The Walden is the latest development in Sydney to have the 10-year Latent Defects Insurance policy by Resilience Insurance, protecting buyers from any structural or waterproofing-related issues for 10 years post-completion.&nbsp;

Demolition of existing structures on The Walden site has already commenced through specialist civil contractor Moits, with the aim of completing preparatory ground works by the end of 2025, ahead of construction commencement in early 2026.

[smartcode_project_cta:default project_id=134323]

Joel Robinson

ALAND unveils The Walden, North Sydney's latest luxury apartment development

<a href="https://www.apartments.com.au/developers/toga-group">TOGA</a> has opened sales for the final building in Macquarie Rise, its latest mixed-use development in Macquarie Park.

Since launching its <a href="https://www.apartments.com.au/new-apartments/macquarie-rise-122-herring-road-macquarie-park-nsw-2113">Macquarie Rise</a> in late 2023, TOGA has secured over 125 sales in the Herring Road development, to a range of purchasers, from first home buyers to investors and downsizers. Around 65 per cent of purchasers have been owner-occupiers.

TOGA has now launched a new release of one-, two-, and three-bedroom apartments in the final building, Saunders Rise. Many of the apartments feature multi-purpose rooms and offer views of the surrounding greenery. Also part of the release is a series of&nbsp;sub penthouses housed on the upper floors.

[smartcode_project:default project_id=89243 project_image_fid=242696]

&nbsp;

“We’re delighted with the ongoing strong interest in our Macquarie Rise development, which is testament to the need for premium housing in this much-loved Sydney suburb,"&nbsp;Allan Vidor AM, Managing Director at TOGA, said.

"We’re proud to be able to offer buyers a unique product that includes luxury amenities, spacious living areas and flexible layouts, designed to suit all kinds of buyers, from young professionals to families and investors.

“We have long been advocates of Macquarie Park, and once Macquarie Rise is complete, TOGA will have built 1,000 apartments in the area, delivering much needed homes within a thriving precinct. It’s great to see the area become renowned for high-quality apartments, proximity to amenities and green spaces."

TOGA, one of Australia’s few Gold Star iCIRT rated developers, is also handling construction of Macquarie Rise. They are on track to complete the building in 2027.

[smartcode_project:default project_id=89243 project_image_fid=310789]

Macquarie Rise boasts a prime location, placing residents within immediate reach of Macquarie Centre, Macquarie University, and the newly completed Macquarie University Metro, connecting to the Sydney CBD is just over 20 minutes.

&nbsp;

Macquarie Rise residents also have access to Club Rise, an exclusive, residents only lounge designed by luxury hotel designers Stack Studio, offering an abundance of work and break-out areas, a Pilates studio, a gym, and a karaoke room. As well as these premium amenities Macquarie Rise will also feature an impressive podium top 20m lap pool.

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“Offering luxury, spacious apartments in a vibrant and well-connected neighbourhood, it’s no surprise that Macquarie Rise remains popular with a range of buyers," said TOGA's General Manager of Sales, Anthony Falas.&nbsp;

"With interest rates tracking downwards, we expect the final apartments to continue to receive high levels of interest.”

Located at 122 Herring Road, Macquarie Park, the development will be delivered in partnership with Baptist Union NSW and Morling College with a value of over $400 million.

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[smartcode_project_cta:default project_id=89243]

TOGA launches final stage apartments in Macquarie Rise

Southern Cross Station anchors the western end of <a href="https://www.apartments.com.au/developments/melbourne-vic-3000">Melbourne</a>’s CBD, connecting metropolitan and regional rail with tram and bus interchanges in one of the city’s busiest transport corridors.&nbsp;

Just metres away, <a href="https://www.apartments.com.au/new-apartments/640-bourke-street-melbourne-640-bourke-street-melbourne-vic-3000">640 Bourke Street</a>&nbsp;will place residents in the heart of the city, with immediate access to Spencer Street trams, a growing mix of retail, hospitality and cultural venues, and a neighbourhood evolving into a lively residential precinct.

Developed by <a href="https://www.apartments.com.au/developers/far-east-consortium">Far East Consortium</a>, the 68-level project integrates a sculptural glass tower with the heritage-listed Eliza Tinsley Building on a 2,765 sqm Bourke St site.&nbsp;

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Designed by <a href="https://www.apartments.com.au/architects/rothelowman">Rothelowman</a>, the development replaces a previously approved scheme for 813 apartments with a refined offering of just over 600 larger-format residences, responding to a growing owner-occupier demand for spacious city living.

The location sits within a dynamic pocket undergoing significant transformation. Marvel Stadium and the Docklands waterfront are less than 10 minutes away on foot, offering both sports and leisure attractions.&nbsp;

Bourke Street Mall, Queen Victoria Market, and the State Library are all within walking distance, while Flagstaff Gardens, Melbourne’s oldest park, provides a green escape just to the north.

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Proximity to some of the city’s largest employers and education hubs, including the courts precinct, legal chambers, RMIT, and major hospitals, makes 640 Bourke Street an appealing residential address for professionals, families and students alike.

Education opportunities span all levels. Nearby, Haileybury City Campus offers private schooling just a short walk from 640 Bourke Street. Just beyond the CBD fringe, Carlton Gardens Primary School, one of Melbourne’s oldest state primary schools, and Docklands Primary School provide convenient government schooling options.

Higher education is equally accessible. RMIT University’s city campus spans multiple buildings just a few blocks away, while the University of Melbourne’s Parkville campus is easily reached via tram along Swanston or Elizabeth Streets.

Victoria University’s City Queen campus, focused on law and business, is also close by, positioning 640 Bourke Street within walking distance of three of Melbourne’s major tertiary institutions.

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The neighbourhood’s retail tapestry continues to evolve into something distinctly local and walkable. Just steps away, Woolworths Metro on Bourke Street ensures that everyday essentials are easily within reach.&nbsp;

For larger shopping trips, Spencer Outlet Centre on Spencer Street and QV Melbourne on the opposite side of the CBD broaden the offering with supermarkets, fashion, dining and specialty stores.

The lane-to-lane vibe unfolds beautifully in nearby arcades and alleys. Hardware Lane, with its European-style red-brick paving and alfresco dining, pulses with jazzy evenings and casual lunches.

A few minutes north, Howey Place and Centre Place offer leafy, boutique-lined lanes where hidden cafés and niche retailers congregate under historic glass-covered cloisters.

Completing this tapestry is the newly opened Mecca “beauty playground” on Bourke Street. Spanning 4,000 sqm over three levels, the flagship blends immersive retail within an art-deco heritage setting.

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This finely grained network of shops, eateries, arcades and service outlets defines the everyday lifestyle at 640 Bourke Street - further enriched by over 3,000 sqm of resident amenity including a Turkish-inspired pool, gym, co-working rooms and private cinemas.&nbsp;

Apartments are priced between&nbsp;$640,000 and $3.95 million. Off the plan stamp duty concessions available until October 2026. Prospective buyers can visit the on site display gallery which has&nbsp;fully built one, two, and three-bedroom apartments.

[smartcode_project_cta:default project_id=509]

640 Bourke Street: A heritage address at the heart of Melbourne

Lower North Shore development specialists&nbsp;<a href="https://www.apartments.com.au/developers/abadeen-group">Abadeen</a>&nbsp;has topped out its new local apartment development,&nbsp;<a href="https://www.apartments.com.au/new-apartments/northcote-collective-naremburn-2-6-northcote-street-naremburn-nsw-2065">Northcote Collective</a>.&nbsp;

Located in the tightly held suburb of <a href="https://www.apartments.com.au/developments/naremburn-nsw-2065">Naremburn</a>, Northcote Collective is a collection of just 58 one-, two-, and three-bedroom apartments designed by award-winning architects Rothelowman.&nbsp;

The building is just a five to 10 minute walk from the heart of Crows Nest and the new&nbsp;St Leonards and Crows Nest Metro stations. Abadeen has also brought doorstep convenience, with a ground-floor retail offering on Northcote Street.

Northcote Collective is being delivered by&nbsp;<a href="https://www.apartments.com.au/builders/decode">Decode</a> — an iCIRT-rated construction company well regarded in the new development industry.

[smartcode_project:default project_id=114189 project_image_fid=272840]

“This is an important and exciting moment for Northcote Collective, and we’re proud to celebrate this milestone with our partners, consultants, and future residents,” said Justin Brown, Executive Chairman and Founder of Abadeen.&nbsp;

“From the outset, our vision was to create something truly special for Naremburn — homes that respect the character of the neighbourhood while elevating the standard of Lower North Shore living. With connectivity to transport, retail on the doorstep and a true village lifestyle, this milestone also comes at a perfect time when buyer confidence is returning to the market. I am incredibly proud of our team and of Decode for their dedication in helping us bring this vision to life.”

[smartcode_project:default project_id=114189 project_image_fid=272865]

The development is two-tiered, with two rooftops for residents. The taller building has an impressive rooftop pool, a rare inclusion in the new Sydney apartment market. The level, with panoramic views, also includes an entertaining terrace with barbecue facilities.

Local downsizers and young professionals are showing the strongest interest in the development, with recent improvements in the property market — supported by three rate cuts in 2025 — boosting borrowing power and buyer confidence.

Auction activity across Sydney surged by almost 30 per cent in recent weeks, with clearance rates above 70 per cent — signalling a renewed wave of buyer demand.

Northcote Collective will welcome buyers in 2026.

[smartcode_project_cta:default project_id=114189]

Abadeen tops out Northcote Collective in Naremburn

Sunshine Coast-based <a href="https://www.apartments.com.au/developers/devcon-property-group">Devcon Property Group</a> has acquired one of Maroochydore’s most prominent development sites for $12 million unlocking the potentialfor a mixed-use project in the Cotton Tree precinct.

&nbsp;

The 4,178 sqm site at 41–43 Aerodrome Road—well known locally as the former home to one of Australia’s last Sizzler restaurants—was sold via an off-market expressions of interest campaign by Colliers agents Nick Dowling and Baydn Dodds. More than 70 targeted buyer groups were approached, resulting in multiple competitive offers for the property.

Devcon Property Group Managing Director Michael Kain said the acquisition was a strategic move in line with the company’s focus on delivering high-quality projects in prime coastal locations.&nbsp;

“We’re excited about the possibilities this site, in one of the Sunshine Coast’s most iconic beachside &nbsp;communities, offers for a broad range of development outcomes,” Kain said.

“Its location, ocean view potential, and proximity to the Maroochydore CBD and beach make it an &nbsp;outstanding development prospect. Our plans are to refurbish the existing building and then review &nbsp;development options for the remainder of the site.”&nbsp;

<img alt="Aerodrome Rd site overlooking Beach (Large)" data-entity-type="file" data-entity-uuid="a29dc4ed-68c1-4bec-a4fc-283063dcde1e" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Aerodrome%20Rd%20site%20overlooking%20Beach%20%28Large%29.jpg?VersionId=b0WxJWevmLoAfCP4YvGImZpR3rSCJJ9L" />

Colliers Special Projects Manager Baydn Dodds said the sale reflected the ongoing strength of the &nbsp;Sunshine Coast’s development site market, particularly for projects capable of achieving water views. &nbsp;

“Sites of this scale, in walkable beachside locations with ocean views, are tightly held and continue to attract significant interest from both local and national developers,” Baydn Dodds said. &nbsp;

“Holding a prominent position as the former home to one of Australia’s last Sizzler restaurants and more recently occupied by Rashays, the prime site is located just 150 metres from Maroochydore Beach.&nbsp;

“With stunning ocean view potential, located in one of the Sunshine Coast’s best known iconic &nbsp;beachside communities, within steps of shops, cafes and the beach it is no surprise that there was strong interest in the site. The transaction highlights the ongoing depth of demand for well-located &nbsp;mixed-use sites across the Sunshine Coast.”&nbsp;

Colliers Sunshine Coast Managing Director Nick Dowling said the transaction reinforced the &nbsp;Sunshine Coast’s status as one of Australia’s most active development markets.&nbsp;

“The combination of strong population growth, lifestyle appeal, and infrastructure investment is &nbsp;driving demand for quality development opportunities,” Nick Dowling said. &nbsp;

“The Sunshine Coast is one of only three markets nationally to record an increase in crane numbers, &nbsp;reflecting the strength of the region’s construction pipeline.&nbsp;

“Opportunities like this are rare and continue to generate strong buyer interest in the region.”&nbsp;

The Sunshine Coast development market is booming, with several high-profile developers like Cube Developments, Gardner Vaughan Group, and RCQ, planning developments in the region.

Devcon buys Sunshine Coast’s former Sizzler site for new apartment development

Industrial Sale

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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."
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Adelaide logistics facility sells for $22 million

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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.
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Brisbane industrial infill site snapped up off market

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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.
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Two Campsie manufacturing facilities sold for over $4 million

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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.
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Richmond warehouse fetches $1.82 million

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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.
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jonathanchancellor-7SQnKwU6yx

South Queensland cold storage facility sold for $22 million

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

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

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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.
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jchancellor-FAypfDUnLy

Dual office warehouse units in Huntingdale sold for $2.05 million

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

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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.
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