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."

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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.

[smartcode_project:default project_id=135096 project_image_fid=356822]

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.

[smartcode_project:default project_id=135096 project_image_fid=351102]

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."

[smartcode_project:default project_id=4661 project_image_fid=314259]

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.

[smartcode_project:default project_id=4661 project_image_fid=372550]

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.

[smartcode_project_cta:default project_id=102717]

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

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An older style warehouse with redevelopment potential at Camperdown in Sydney’s inner north-west has been sold by for $1.25 million.
The two level brick warehouse at 115 Salisbury Road, Camperdown was sold by Ray White Commercial Inner West agent Tim Morrison.
The corner location was offered vacant possession, with a floor area of 425 square metre zoned B1, which allows for a variety of uses such as a child care centre, bed and breakfast, student accommodation or shop top housing.
The new owner is looking to lease the property.
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jchancellor-FAypfDUnLy

Camperdown warehouse with development potential sold

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Cbus Property has sold 81-125 Princes Highway, Dandenong – formerly the General Motors Holden manufacturing site – to the Western Australia property syndicator fund manager Warrington Property Group.
The 33.7 hectare property comprises 8 hectares, with three buildings totalling 27,919 square metre leased to GPI, CEVA and Australia Meat Holdings.
<img src="/images/2015/02/18/etstqae-feb-18-one.jpg" alt="">
Fully leased the total estate income is $6.7 million.
It is located 32 kilometres south-east of the Melbourne CBD.
Warrington Property, which has around $250 million of assets under management, was founded by British-born valuer Chris Weaver.
The Dandenong deal was brokered by Savills Australia agents Chris Jones and Ben Hegerty.
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Warrington Property Group buys 33 hectare Dandenong property

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The industrial premises at 72-76 Cherry Lane, Laverton North have been sold for $29 million on a 7.5% yield through Savills.
Toll Holding sold the 9.8 hectare holding to Stockland in an off market sale and leaseback.
The facility comprises a 20,500 square metre warehouse and 4.5 hectares of container-rated hardstand.
Laverton North is one of Melbourne’s premier industrial locations, with the Cherry Lane facility located 12 kilometres west of the Port of Melbourne and 16 kilometres from the Melbourne CBD.
It is located very close to the Princes Highway, Westgate Freeway and Western Ring Road.
Stockland chief Mark Steinert said high-quality acquisitions supported their strategy to profitably increase the size and scale of its Logistics and Business Parks portfolio.
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Toll Holdings sells Laverton industrial property

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The national commercial and industrial security fencing contractor Fencewright Pty Ltd have taken up a tenancy in a refurbished industrial facility at Geebung in Brisbane’s north.
The company’s new Queensland headquarters will be at 21 Kingtel Place, Geebung.
Fencewright has taken out a three plus three year lease at a gross rental at $130,000 per annum.
The lease was negotiated by Paul Anderson and Dan Costello of Ray White Industrial Milton.
FenceWright was established in Perth four years ago.
FenceWright moved on the lease listing within 48 hours of Ray White Industrial Milton listing it for lease.
The 2,000 square metre holding comes with a refurbished building area of 1,150 square metres, including a 1,000 square metre warehouse and a 150 square metre office/showroom space.
FenceWright managing director Matthew Sivewright said they had been searching for several months.
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Industrial lease in Geebung for Fencewright

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A record amount of industrial sales helped push commercial property sales to $26.8 billion in 2014, according to CBRE Research.
With commercial property sales up 6% on 2013 levels, office property was the largest contributor at $14.5 billion of sales, with retail assets at $7.3 billion. Industrial property clocked in $5 billion of transactions – up 55% from 2013’s total and surpassing the 2006 record of $4.9 billion.
CBRE head of research for Australia, Stephen McNabb, said that the last quarter of 2014 saw strong activity in the industrial market.
“Industrial sales grew by 55% year on year, driven by a number of large portfolio sales,” McNabb said.
“Activity is being prompted by divergence of opinion as to the degree to which yield compression can continue. Strong yield compression in the super prime sector (80 to 90bp in Sydney/Melbourne) through 2014 prompted selling from some owners, in an environment where new sources of demand are looking for income yield combined with an expectation that the risk of yield softening is low,” he said.
He also said that across the entire commercial market, foreign investors have maintained their presence, however a slowing was noted – to 12% after a 2013 doubling of investment.
Meanwhile, Matt Haddon, CBRE regional director, industrial and logistics services, said that they had been predicting the strong uptick in industrial in early 2014.
“Despite a slow start to industrial sales volumes in 2014 with only modest figures recorded at the end of Q2, based on the volume of sales and enquiries we were handling back in July, we made the call that 2014 would set a new benchmark and that’s how it’s panned out, reaching the $5 billion mark for the first time,” Haddon said.
“Given the volume of deals currently in the pipeline and the number of quality assets due to come to the market in Q1 this year, we see this volume of sales being sustainable for the foreseeable future and don’t believe that 2014 will be viewed as a ‘spike’ in any way.”
The office markets’ growth was sustained throughout 2014 with Sydney and Melbourne recording strong years for turnover – totaling 80% of the national turnover for office stock, when in 2013 they numbered 65%.
“This is consistent with stronger demand for assets in these core markets in which the vacancy risk over the next few years looks more contained for both prime and secondary assets,” Haddon said.\
<img src="/images/2015/01/14/Commercial%20property%20transactions%20-%202014.png" alt="">
Source: CBRE Research
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jduke-EHk3XBmHkn

Record 2014 industrial sales leaves commercial market on a high

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Centuria Property Funds has sold 28 Salta Drive, Altona North, for $14.5 million to a private investor.
It was purchased from Salta Properties in 2002.
The <a href="https://www.realcommercial.com.au/property-industrial+warehouse-vic-altona+north-5286079" target="_blank">28 Salta Drive</a> is the final property to be sold from the Centuria Direct Property Fund.
The property is a purpose-built transport and warehousing facility with a gross building area of 23,854 square metres including fitted and modern offices of approximately 482 square metres located on a 5 hectare site.
Nathan Bingham of Colliers International and Greg Jensz of Savills were the selling agents.
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Altona North industrial logistics sale by Centuria REIT

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South African listed Investec Australia Property Fund has acquired two industrial properties in Newcastle and western Sydney for a total of $26.9 million.
The sale come at the end of a busy year for industrial property transactions. Demand for Australian industrial assets is strong with investors attracted to the high yields and income return.
Commercial real estate agency JLL predicts the total value of industrial property transacted in 2014 could hit a record high, exceeding the $4.4 billion worth of properties that changed hands in 2007.
In the first nine months of 2014, $2.9 billion worth of industrial properties had already sold, which was 40% more than at the same time the previous year, JLL’s research shows. A further $1.6 billion of potential transactions were expected to exchange or settle before the end of the year.
Sydney was the strongest investment market for industrial property across Australia, making up 47% of sales in 2014, JLL’s research shows. Demand was shifting away from assets in Perth and Brisbane, towards Sydney and Melbourne.
Property funds, like the Investec Australia Property Fund, were the most active buyers by number of transactions in Sydney’s industrial market in the year to September 2014, Savills’ research shows. Over that 12 month period, 17 industrial assets in Sydney sold to property funds.
By value, trusts were most active in Sydney, transacting $785 million worth of industrial property, or 42% of value, Savills’ research shows.
The Investec fund has acquired $147.4 million worth of properties over the past 12 months, bringing its portfolio to nine industrial properties and five office properties.   
The two latest acquisitions were made at a blended yield of 7.92%.
Competition for industrial assets in Sydney has caused average yields to tighten. Yields on prime industrial assets now range from 7.25% to 7.75%, 50 basis points less than at the same time in 2013, Savills reports.
Yields on secondary industrial tightened by 25 basis points in the September 2014 quarter and Savills anticipates further pressure on yields as lack of prime investment stock forces investors to look for well leased secondary assets instead.
Investec’s purchase at Wetherill Park in Sydney’s west has 11 years remaining on the lease with an option for a further five years and average contracted annual rental growth of about 3%.
The lease on the Newcastle property runs until January 2021, with a contracted 3.75% rental growth and an option for a further 10 years.
IAPF chief executive Graeme Katz said had recently paid down all of its debt and was was in a strong position to pursue acquisitions.
“We are actively seeking opportunities to grow and diversify the Fund’s asset base, enhance value and contribute to sustainable income growth for our investors,” he said. 
The fund was listed on the Johannesburg Stock Exchange in October 2013, allowing South Africans to directly invest in Australian commercial property.  
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South African fund invests $26.9 million in NSW industrial properties

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W Property has bought 132 McEvoy Street, Alexandria with plans to refurbish the buildings.
Following the restoration and refurbishment of the commercial and industrial buildings sites they will be onsold to owner-occupiers in 2015.
Knight Frank South Sydney agent Danny O'Brien advised on the sale, with the undisclosed price at about $30 million.
The proposed B6 Enterprise zoning allows a multitude of uses.
<a href="https://www.realcommercial.com.au/property-industrial+warehouse-nsw-alexandria-501323695" target="_blank">The 16,527 square metres site</a> has four building areas:
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1,735 square metres
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2,498 square metres
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4,339 square metres
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4,475 square metres
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W Property buys Alexandria industrial site

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The industrial leasing market in Melbourne is showing green shoots of a recovery, according to Savills Australia’s Melbourne Industrial Spotlight Quarter 3/2014.
An extra 150,000 square metres were reported as leased over the past 12 months compared to the previous corresponding period.
The report recorded 681,520 square metres of industrial space leased over the past 12 months, with a total of 90 deals, in the year to September 2014.
The 12 months previous came in at 524,606 square metres with 60 deals.
The decade average is 594,221 square metres per annum.
<img src="/images/2014/10/29/sav%20oct%2029%20one.jpg" alt="">
Savills’ Victorian head of research, and author of the report, Glenn Lampard, said that it is not a definitive recovery quite yet, but that they are indicators of a possible market upswing.
“One swallow does not a summer make and neither does two, but leasing and land sales are the best indicators we have of a recovery. These figures are not one month, or one quarter but 12 months and more. While it’s certainly not definitive the figures are nonetheless very encouraging and at the very least suggest a new confidence in the market,’’ Lampard said.
Melbourne’s north-west industrial precinct was the recipient of the majority of leasing activity, responsible for 64% of the result, while the south-east took 35% of the total.
City fringe areas were responsible for less than 1% of the result.
This has Savills Victorian industrial director Greg Jensz note that there has been an upswing of the last 12 months.
“In the previous 12 months (2012/2013) there had been fairly good enquiry but that had not resulted in more than a modest outcome. This year we are seeing those enquiries taken that step further and the results are there including a substantial rise in pre-commitment deals and that’s a very good indicator of confidence returning to the market,” he said.
“On the basis of current enquiry we expect to see the current leasing trend continue throughout the remainder of 2014 as firms gear up for the new year.”
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Melbourne’s industrial market showing green shoots, but yet to spring into recovery: Savills

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An industrial unit is the Brisbane suburb of Nundah has changed hands for $2.47 million.
The 2,355 square metre building at 2 Jenner Street, which is 8 kilometres north of Brisbane, has a 1,503 square metre warehouse plus a 785 square metre open plan office zone.
The property is fully leased to a rag trader with a rental return of $25,000 a year, reflecting a yield of 8.6%.
Dan Costello of Ray White Industrial Milton handled the sale.
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