&nbsp;

Developer GURNER™ Group has revealed $1.65 billion in residential sales nationally across the 12 months to December 2025, driven largely by the continued momentum of its Docklands wellness-focused precinct, Elysium Fields.

The sales result was generated across seven projects in Victoria and New South Wales, headlined by Elysium Fields, GURNER™’s $2.75 billion mixed-use precinct planned for Harbour Esplanade in Docklands.

The project has recorded more than $500 million in sales across the first three towers, equating to around 580 apartments sold.

The first tower, Helios, has now sold out of its 240 private residences, with GURNER™ preparing to release a premium penthouse collection comprising 15 three-bedroom penthouses in coming weeks.

[smartcode_project:default project_id=144441 project_image_fid=370975]

Elysium Fields is being developed on the long-held 20,000 sqm Docklands site at 208-226 Harbour Esplanade, which had remained undeveloped for more than two decades prior to GURNER™ taking over the project around four years ago.

Construction has now commenced across four towers ranging between 18 and 30 storeys, with Hamilton Marino and Maxcon appointed as builders.

Once complete, the precinct is expected to comprise around 1,100 residences, alongside retail, hospitality and public realm uses integrated throughout the site.

[smartcode_project:default project_id=144441 project_image_fid=370981]

Designed by Fraser &amp; Partners in collaboration with GURNER™ Design House, the project has been positioned around the developer’s broader focus on wellness-led residential living.

“We don’t sell apartments. We create a true luxury lifestyle that simply doesn’t exist elsewhere in the market today,” Founder and Executive Chairman Tim Gurner said.

“To deliver that requires an extraordinary level of detail, coordination and discipline across multiple verticals, from design and hospitality through to wellness and service.”

“We’ve always believed that living extends far beyond the physical residence. It’s about how you feel the moment you arrive, how you live day-to-day, and the ecosystem that supports that.” 
[smartcode_project:default project_id=144441 project_image_fid=370977]

The project’s design places a heavy focus on landscaping, wellness amenities and biophilic design principles.

Plans include around 3,700 sqm of landscaped gardens and open space throughout the precinct, alongside a retail and dining offering spanning approximately 5,000 sqm.

The broader public realm strategy centres around what GURNER™ describes as the “Path of Life”, an urban forest and landscaped pedestrian environment intended to connect the various buildings and wellness spaces across the precinct.

The apartments themselves will incorporate a range of wellness-focused inclusions, including purified air and water systems, circadian lighting, antimicrobial surfaces, and optional in-home wellness upgrades.

[smartcode_project:default project_id=144441 project_image_fid=370980]

Gurner said the company’s experience through its Saint Haven wellness clubs had directly informed the residential offering now being incorporated into Elysium Fields.

“We’re seeing a clear global shift toward longevity, performance and proactive health,” Gurner said.

“Our role is to deliver that in a way that feels seamless, highly private and beautifully resolved within the environments we create.”

A large component of the wellness offering is planned through the resident amenity and health facilities proposed within the precinct.

That includes plans for bathing and recovery facilities spread throughout the towers, incorporating mineral pools, saunas, steam rooms, flotation therapy, red light therapy and wellness lounges.

The developer is also seeking approvals for what it describes as a “reverse ageing medical clinic” within the precinct.

[smartcode_project:default project_id=144441 project_image_fid=370978]

According to project information released by the group, the proposed facility would include cryotherapy, IV infusion therapy, infrared and dry saunas, PEMF beds, MRIs, DEXA scans, brain scans and blood analysis services.

Within the first tower, Helios, residents will also have access to a dedicated amenity offering known as the Sky Private Club.

The upper 15 levels of the building will include private lounges, dining spaces, rooftop amenities and optional private wellness studios integrated within residences.

The Helios tower itself comprises 260 apartments ranging between 60 sqm and 300 sqm, including a collection of penthouses.

That includes a planned two-storey penthouse spanning around 600 sqm with uninterrupted bay views.

The Elysium Fields precinct is being delivered in partnership with Digital Harbour Holdings, a consortium that includes the Liberman family, which controls the development rights across the Docklands site.

[smartcode_project:default project_id=144441 project_image_fid=370979]

The sales result comes as GURNER™ continues expanding its national development pipeline beyond Victoria.

“We have a strong pipeline across Australia and are now focused on scaling into key markets including New South Wales and Queensland, while continuing to build on our Melbourne base,” Gurner said.

“We currently have more than $3 billion in the market, growing to over $5 billion by October, and expect to materially outperform last year in the 2026 calendar year.”

The result also reflects the continued strength of the upper-end apartment market in Melbourne, particularly for owner-occupier-focused product with large-scale amenity and lifestyle offerings.

[smartcode_project_cta:default project_id=144441]

Record result anchored by the Group’s “utopian” Elysium Fields precinct – defying market headwinds in Docklands.

Joel Robinson

Elysium Fields drive Gurner to $1.65 billion in apartment sales over 2025

National Australia Bank (NAB) will fund <a href="https://www.apartments.com.au/new-apartments/palmera-residences-gold-coast-18-garfield-terrace-surfers-paradise-qld-4217">Palmera</a>, a $1 billion, 52-level luxury residential tower being developed by Central Equity in one of the Gold Coast’s most tightly held coastal locations at Northcliffe.

The project, launched recently by <a href="https://www.apartments.com.au/developers/central-equity">Central Equity</a>, one of Victoria’s largest private residential developers, comes at a time when construction funding for large residential developments has become increasingly competitive as lenders tighten exposure to the sector.

Multiplex has been appointed the builder, and construction is now underway.

[smartcode_project:default project_id=108274 project_image_fid=365784]

Since its first project, Central Equity has delivered more than 85 residential developments with a combined end value exceeding $8 billion.

Palmera reflects Central Equity’s growing focus on the Gold Coast luxury apartment market and continues a relationship between Central Equity and NAB that dates back to the late 1980s, when the bank funded one of Melbourne’s earliest inner-city residential towers at a time when high-rise apartment living in the CBD was largely unproven.

“NAB’s funding of Central Equity’s $36 million CBD development in the late 1980’s to the financing of the billion-dollar tower today highlights the long-term relationship between the two organisations in delivering major residential projects” said Central Equity Founder and Chairman Eddie Kutner.

He said NAB’s early support was instrumental in helping establish the company’s development model.

“When we commenced our first residential tower in the late 1980s the concept of funding off-the-plan apartments was still largely untested in Australia,” Kutner said.

“NAB recognised the opportunity early and supported the project when others were uncertain. That relationship has now continued for more than 37 years across many developments.”

[smartcode_project:default project_id=108274 project_image_fid=365771]

Central Equity was established in 1987 when Melbourne’s CBD and Southbank precinct were still dominated by warehouses and commercial buildings. Fewer than 100 residents lived in Southbank at the time, and large-scale residential development in the inner city was not widely considered.

Recognising changing demographics and lifestyle preferences, the company began developing high-rise residential projects designed to bring permanent residents into the city centre.

Central Equity has provided accommodation for approximately 40,000 residents across Melbourne’s CBD and Southbank, while also incorporating supporting infrastructure including essential lifestyle facilities like retail spaces, childcare facilities and neighbourhood activity centres.

Central Equity has spent many years assembling the Palmera development site on the corner of Garfield Terrace and Frederick Street in Northcliffe, creating a supersite of around 3,300 sqm.

The developer said the Palmera apartment tower reflects its long-term view of the Gold Coast as a growing and increasingly diversified economy.

[smartcode_project:default project_id=108274 project_image_fid=365768]

Supported by infrastructure including the light rail network, major road upgrades expanded education, hospital and medical facilities and continued expansion at the Gold Coast Airport with more internation and domestic flights.

Positioned in the tightly held Northcliffe precinct, the 52-level tower will deliver 347 apartments, targeting buyers seeking a high-end coastal lifestyle, from downsizers to interstate investors.

Designed by Marchese Partners with interiors by DBI, Palmera has been conceived as a next-generation residential offering, featuring a collection of oversized apartments, with premium three-bedroom residences offering sweeping northern views stretching from Surfers Paradise through to Burleigh Heads.

[smartcode_project_cta:default project_id=108274]

NAB funds $1 billion Surfers Paradise apartment development, Palmera

Two years after completing one of the newest developments in North Sydney, developer <a href="https://www.apartments.com.au/developers/aqualand-australia">Aqualand</a> is turning its attention to the rapidly evolving St Leonards apartment market.

The developer, which completed AURA by Aqualand on North Sydney's Walker Street, has lodged plans for a 5,918 sqm site at <a href="https://www.apartments.com.au/new-apartments/33-37-herbert-street-st-leonards-nsw-2065">33-37 Herbert Street, St Leonards,</a> seeking approval for a pair of residential towers rising above a shared podium opposite Royal North Shore Hospital.

The proposal forms part of the broader transformation underway across the St Leonards-Crows Nest precinct, where former industrial and commercial sites are increasingly being redeveloped into high-density mixed-use projects tied to major transport infrastructure.

<img alt="Aqualand" data-entity-type="file" data-entity-uuid="2cc428cf-fe70-4cac-9cd5-264ad53af62c" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-05-28%20at%209.51.56%E2%80%AFAM.png?VersionId=otKSnHtbjAvAddOnovyXQMgcAwE6DMe1" />

According to the planning documents, the site sits “within the St Leonards–Crows Nest Strategic Centre, identified by the NSW Government as a key area for accommodating future jobs and housing across Sydney.”

The proposal has been designed by fjcstudio, formerly FJMT Studio, and is being progressed through the State Significant Development pathway due to its scale and affordable housing provision.

The scheme would comprise 413 apartments, including 46 affordable housing units, alongside retail and commercial uses fronting Herbert Street. The project would also include communal open space, landscaping, a swimming pool, gymnasium, children’s play areas and podium-level resident amenities.

Planning documents show the development would consist of a part-13, part-39 storey tower form positioned above a four-storey podium.

“The development comprises a unified podium that activates the street interface, and two setback towers to accommodate new housing supply while maintaining an appropriate human scale at ground level,” fjcstudio noted in its Design Report.

The northern and southern towers have been shaped to respond to the surrounding skyline while also limiting overshadowing impacts to nearby public open space, particularly Talus Reserve.

The design report said the differing tower heights were intended to “contribute to a varied skyline while responding to the surrounding built form context and solar access considerations.”

<img alt="Aqualand" data-entity-type="file" data-entity-uuid="36da62dc-ff9e-41f2-a7e3-7be38373751c" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-05-28%20at%209.51.45%E2%80%AFAM_0.png?VersionId=Mo6Rp2r.XRLTzIfg_PEEpw8NepDH8UBs" />

The site sits directly opposite Royal North Shore Hospital and within walking distance of both St Leonards Station and the new Crows Nest Metro station.

While the site itself sits just outside the formal Crows Nest Transport Oriented Development boundary, the planning documents repeatedly reference its alignment with the broader TOD objectives reshaping the Lower North Shore.

“The site is located adjacent to St Leonards Station and in close proximity to Crows Nest Metro which is within the Crows Nest Transit Orientated Development Accelerated Precinct which has been identified by the NSW Government to support housing delivery,” the Design Verification Statement noted.

According to fjcstudio, the project has been designed to respond to the broader transition occurring across St Leonards, where increasing residential density is being concentrated around transport infrastructure and employment hubs.

“The broader precinct is undergoing significant change, with a mix of existing mid-rise buildings and newer high-density developments,” the report stated.

“Recent and approved projects indicate a consistent shift toward taller built form, typically organised as tower-and-podium typologies with more active ground levels.”

The proposal includes close to 6,000 sqm of retail and commercial space across the ground floor and podium levels, designed to create a more activated street edge along Herbert Street.

Aqualand’s plans would also introduce a landscaped podium shared between the two towers, with communal open space in the form of a podium rooftop designed to support resident interaction and improve urban greening outcomes. The scheme would also introduce pocket parks at the northern and southern ends of the site, including a landscaped area at the corner of Herbert and Ella streets designed to improve pedestrian amenity and soften the streetscape.

&nbsp;

The proposal is being progressed through the NSW Government’s Housing Delivery Authority pathway, which was introduced to accelerate housing supply across the state. The application was declared State Significant Development in April 2025 following an expression of interest process.

<img alt="Aqualand" data-entity-type="file" data-entity-uuid="faf6d97d-2671-454f-b85a-fe1c6a7be608" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-05-28%20at%209.51.49%E2%80%AFAM.png?VersionId=diVd28OBVr5.YV.7prrOz.uAanwwwm7a" />

St Leonards has been particularly active with new developments in recent weeks. Developer SP Setia’s <a href="https://www.apartments.com.au/news/nsw/first-look-sp-setia-targets-st-leonards-skyline-with-40-storey-tod-tower">plans for a new 42-storey tower</a> recently went on exhibition through the same pathway, while <a href="https://www.apartments.com.au/news/nsw/first-look-stockland-plans-52-storey-538-apartment-st-leonards-tower">Stockland’s 52-storey tower proposal</a> was also recently unveiled.

Aside from the St Leonards project, which is expected to take around nine months to move through the approvals process ahead of a potential 2027 launch, Aqualand is also preparing to launch Boronia, a new apartment project in Roseville comprising around 111 apartments on Larkin Street.

The developer also has approvals in place for the next stage of the Barangaroo precinct, which will feature new residential, retail, hospitality and community uses, alongside a new metro entry across the five-hectare site.

More than 50 new retail destinations are planned for Central Barangaroo, alongside a 270-metre-long boulevard connecting Hickson Park to Nawi Cove. Together with Harbour Park, more than 50 per cent of the precinct will comprise public open space and parkland.

First look: Aqualand joins St Leonards apartment party

<section data-scroll-anchor="false" data-testid="conversation-turn-5" data-turn="user" data-turn-id="e65dbe94-e3b6-47f7-b62a-9cbb30c9bf79" data-turn-id-container="e65dbe94-e3b6-47f7-b62a-9cbb30c9bf79" dir="auto">Time &amp; Place’s plans to transform the former David Jones factory building in Surry Hills into a mixed-use residential precinct have gone on exhibition through the NSW Government’s In-fill Affordable Housing pathway.</section>

<section data-scroll-anchor="false" data-testid="conversation-turn-6" data-turn="assistant" data-turn-id="request-WEB:f4d533b7-64a5-413d-86fd-5c99649c2b73-2" data-turn-id-container="request-WEB:f4d533b7-64a5-413d-86fd-5c99649c2b73-2" dir="auto">
The Marlborough House proposal, lodged for the <a href="https://www.apartments.com.au/new-apartments/marlborough-house-47-97-marlborough-street-surry-hills-nsw-2010">47-97 Marlborough Street</a> site, would see the adaptive reuse of the heritage-listed warehouse building alongside the construction of new residential additions and a separate apartment building on the northern portion of the site.

The proposal seeks approval for 172 apartments across three buildings, including 15 per cent affordable housing managed by a community housing provider for at least 15 years from occupation.

<img alt="Marlborough" data-entity-type="file" data-entity-uuid="5d1d3c2a-bf13-47d6-a335-7c01102cdee1" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-05-28%20at%209.29.36%E2%80%AFAM.png?VersionId=cjMYrbR.BLUlWH4dar0RVDDo0bG.u2YT" />

Interior view from the Northern Building Penthouse overlooking the park

&nbsp;

The redevelopment is planned for the prominent 3,413 sqm site bounded by Marlborough Street, Goodlet Street and Lansdowne Street, directly opposite Eddie Ward Park and around 200 metres from the Surry Hills light rail stop.

Time &amp; Place acquired the former David Jones building in 2024, marking the first time the property had changed hands in around 50 years.

Designed by Wardle, the proposal centres around the adaptive reuse of the former David Jones factory, originally constructed between 1913 and 1935 in the Inter-War Chicagoesque architectural style.

Wardle noted in its Architectural Design Report that the building “occupies a significant place in the industrial and cultural history of Surry Hills” and at its peak was “the largest department store manufacturing facility in Australia, employing over 800 people and fuelling the growth of Sydney’s fashion and retail industries.”

The practice said the project positions itself “not as an isolated intervention, but as a contributor to the civic, social, and architectural grain of the precinct.”

The proposal would deliver 75 apartments within the retained southern heritage building, 59 apartments within the central addition, and a further 38 apartments within the new northern building fronting Lansdowne Street.

Planning documents show the scheme would comprise a mix of heritage apartments, new-build apartments, townhouses and penthouses.

<img alt="Marlborough" data-entity-type="file" data-entity-uuid="57758518-40a3-4b83-958c-d06e96a2cffa" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-05-28%20at%209.29.42%E2%80%AFAM.png?VersionId=VerlX9ST5xgBi8.1_YRsqdWTJeT6ygjs" />Interior View of the Heritage Building Apartment

The development would also include a ground-floor retail tenancy on the corner of Marlborough and Lansdowne streets, rooftop communal open space, a landscaped pedestrian link along the western edge of the site, and basement parking accessed from Lansdowne Street via a car stacker system.

&nbsp;

The scheme emerged from a competitive design process run by Urbis, with Wardle ultimately selected as the winning architect ahead of FJC Studio, TZG, Architectus and Wilkinson Eyre.

The Design Integrity Panel later described several aspects of the Wardle scheme as fundamental to the project, including “the stepped character of the new addition to the north of the site”, the landscaped western pedestrian link, and the “garden arrival” experience separating the original Marlborough House from the heritage addition.

Wardle’s design heavily references the site’s industrial and heritage history, while also responding to the surrounding Surry Hills streetscape.

The Architectural Design Report describes Surry Hills as “a finely grained neighbourhood with beautiful and expressive brickworks throughout the suburb,” with the proposal introducing a material palette intended to sit comfortably alongside the existing warehouse fabric and neighbouring terraces.

The report also outlines the project’s relationship with Eddie Ward Park and the broader landscape context of the area.

“Marlborough House occupies a site of deep cultural memory and the neighbouring Eddie Ward Park is of local ecological significance, where natural systems, topography, and stories have long shaped human experience,” Wardle noted in the report.

The architects said the proposal sought to “rebind built form to Country” through landscape, materiality and the adaptive reuse of the heritage structure.

<img alt="Marlborough House" data-entity-type="file" data-entity-uuid="9ae3f2f9-c85f-477a-a6f8-b43f6cb97c41" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-05-28%20at%209.29.53%E2%80%AFAM.png?VersionId=B.qUCLqRvJOR.n9CvYcTpaknIX9LuqKZ" />

The project is also being progressed under the NSW Government’s in-fill affordable housing provisions, allowing developments that include affordable housing to access additional height and floor space incentives.

Under the plans, 2,593 sqm of the project’s floor space would be dedicated to affordable housing, slightly exceeding the required 15 per cent threshold.

In its Design Excellence Strategy, Urbis said the project aimed to “sensitively adapt and enhance the heritage-listed building on site through alterations and additions that preserve its historical significance” while delivering “high-quality market and infill affordable housing development in Surry Hills.”

Time &amp; Place has been one of the most active developers nationally in the last 12 to 24 months. Late last year they completed&nbsp;The Queensbridge in&nbsp;<a href="https://www.apartments.com.au/developments/southbank-vic-3006">Southbank</a>, a mixed-use tower with 353 apartments and a hotel. They are currently selling Park Modern, 246 apartments near the famous Botanic Gardens in&nbsp;<a href="https://www.apartments.com.au/developments/south-melbourne-vic-3205">South Melbourne</a>, and have future projects, <a href="https://www.apartments.com.au/new-apartments/the-wilmot-173-burke-road-28-hope-street-glen-iris-vic-3146">The Wilmot</a>&nbsp;in&nbsp;<a href="https://www.apartments.com.au/new-apartments/glen-iris-vic-3146">Glen Iris</a>, the redevelopment of the Northcote Plaza, and another tower in South Melbourne.

The developer broke into Sydney just a few years ago with Two Tides in Manly. They have another project nearby, which is at the ultra-luxury end of the market on&nbsp;<a href="https://www.apartments.com.au/buildings/shoreline-manly-beach-89-90-north-steyne-manly">North Steyne</a>, fronting the beach.

It is also continuing to work through the <a href="https://www.apartments.com.au/news/nsw/first-look-time-place-settles-on-design-for-the-chimes-potts-point-redevelopment">redevelopment of The Chimes building</a> on Macleay Street in&nbsp;<a href="https://www.apartments.com.au/developments/potts-point-nsw-2011">Potts Point</a>, as well as a project on <a href="https://www.apartments.com.au/news/nsw/time-place-to-take-on-mosman-apartment-market">Mosman's Redan Street</a>.
</section>

First look: Time & Place unveils Marlborough House redevelopment designs for former David Jones warehouse in Surry Hills

The residential transformation of St Kilda Road is set to continue into with more new apartment plans for the sought-after boulevard.

Wing Tai Asia has lodged plans for a major residential tower at 464-466 St Kilda Road, replacing the former VACC House with an 18-storey mixed-use development designed around a retained heritage podium and a sculpted contemporary tower.

The proposal, prepared under Victoria’s Significant Residential Development with Affordable Housing pathway, would deliver 325 apartments and ground-floor retail across the prominent 4,653 sqm boulevard site in Melbourne’s St Kilda Road North Precinct.

The project centres on the adaptive reuse of the site’s heritage-listed VACC Building, an eight-storey office designed by Bernard Evans that has occupied the address for decades. Planning documents state the development would involve “carefully dismantling and conserving off-site the original metal fabric of the podium visible from St Kilda Road,” before reinstating it as the defining frontage of the new scheme.

Above the restored podium, Wing Tai is proposing a curvilinear residential tower. The scheme includes 172 one-bedroom apartments, 63 two-bedroom apartments, 66 three-bedroom apartments, and 24 four-bedroom apartments, alongside two ground-floor food and beverage tenancies fronting St Kilda Road.

The tower has been designed with substantial articulation and variable setbacks to minimise perceived bulk and maintain view corridors along the boulevard. Urbis, which prepared the planning report, said the design “has been significantly articulated through a curvilinear design” with “an interplay with materials, façade expression and depth” to create visual separation and visual interest.

The proposal also includes 254 basement car spaces, landscaped pedestrian links connecting St Kilda Road and Queens Lane, and a biophilic landscape strategy featuring canopy trees, raised planters, cascading greenery and a glass oculus pool overlooking the eastern frontage.

Planning documents confirm the $270.1 million development will contribute 3 per cent of project costs to the Social Housing Growth Fund as part of the application process.

Wing Tai acquired the St Kilda Road property in 2018 alongside Abacus Property Group for $95.38 million, before later consolidating ownership of the site. The property previously served as the Victorian Automobile Chamber of Commerce headquarters for around 60 years.

The transformation of the St Kilda Rd boulevard is already beginning to materialise, with a number of high-profile projects recently completed, launched, or approaching launch as developers continue to back the long-term appeal of the precinct.

Among the most notable recent completions is Louise by Samuel Property Group, just off the strip on Queens Lane, the same pocket Hirsch &amp; Faigen recently launched The Queensbury. Mirvac is too on the same street with The Albertine, which is approaching completion.

Dexus recently secured approval for its slice of St Kilda Road, while Gurner also has approved plans for the precinct.

Wing Tai unveils 325-apartment St Kilda Road tower on former VACC House site

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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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
</li>
<li>
4,475 square metres
</li>
</ul>
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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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