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.

[smartcode_project:default project_id=135096 project_image_fid=356818]

After comparing several developments, he chose One Apartments because of GWH's longstanding local reputation and his own experience working with the developer on a commercial project more than a decade earlier.

"I knew that they were local, that the quality of the build was going to be up there. I'd looked at other apartment complexes around and close by, and I just knew that here was a better decision location wise."

Today, Keith says the move has completely changed how he experiences Newcastle.

"I enjoy living in this location because it's more of a lifestyle change. That Newcastle city living where you can walk to restaurants and bars and even beaches and parks and even shopping across the road."

[smartcode_project:default project_id=135096 project_image_fid=356828]

Beyond the location, he says it's the sense of community that has surprised him most.

"Everyone loves living here because they chose to live here, but everyone looks out for each other. It's a real great community feel here."

For Aimee and Lyle Goodman, the journey started almost by chance.

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The couple happened to be having coffee in Newcastle when they noticed the site where One Apartments was about to begin construction.

"We were aware GWH was planning a development," Aimee says. "We made one phone call and things moved pretty quickly after that."

As busy business owners, they initially thought apartment living would simply reduce the maintenance that came with larger homes. Instead, it fundamentally changed how they spent time together.

"We actually catch up more as a family now," Aimee says.

"We've had homes with big yards and lots of space, but everyone ended up in different rooms. Here we'll have dinner together, the kids can play, and we spend far more quality time together."

[smartcode_project:default project_id=135096 project_image_fid=356829]

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."

[smartcode_project:default project_id=135096 project_image_fid=351104]

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."

[smartcode_project:default project_id=4661 project_image_fid=372549]

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.

[smartcode_project:default project_id=102717 project_image_fid=355297]

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.

[smartcode_project:default project_id=5743 project_image_fid=372394]

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.

[smartcode_project:default project_id=5743 project_image_fid=925]

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."

[smartcode_project:default project_id=5743 project_image_fid=5374]

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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Propertylink announced it has acquired 10 industrial properties in NSW and Victoria from Abacus Property Group and Abacus Diversified Income Fund II for $106.75 million.
Led by former Valad chief Stephen Day, it takes the total value of the Propertylink Australian Industrial Partnership (PAIP) assets to $203 million.
Day says that the acquisitions demonstrate their intention to increase their industrial property holdings Australia wide.
“PAIP portfolio assets now range from some solid long lease assets with excellent tenant covenants blended with traditional multi-let estates and single tenant distribution centres with shorter [Weighted Average Leases to Expiry] which present an opportunity for Propertylink to add value or to achieve higher yields and total returns with hands on asset management,” said Day.
“The PAIP industrial strategy is offering great “risk adjusted” returns in the current climate due to the light capital expenditure requirements, relatively low incentives required to secure tenants and, most importantly, strong capacity to achieve a high proportion of targeted total returns to investors coming from cash distributions from rental income.”
According to Peter McDonald, head of property at Propertylink, there are potential plans to subdivide the assets.
“The portfolio will benefit from strong asset management and we’ll create significant upside by knuckling down and really working the assets,” says McDonald.
“The 9.4% property yield is very attractive, however our team is looking forward to working on the various value-add initiatives that include potential land sub-division, strata sub-division, and bulky goods development. We have just added former JLL director Casey Greenberg to the Propertylink Asset Management team and his appointment has come at an opportune time with this acquisition”, he says.
The Abacus portfolio is the largest acquisition since PAIP was established in March 2014. A separate Propertylink fund acquired two long lease industrial assets for $63 million in October last year.
PAIP now comprises 17 assets Australia-wide, with backing from Goldman Sachs and London-based Grosvenor Group. 
Four of the properties were held on the Abacus balance sheet and six were in an unlisted retail fund it managed.
The sales were above the aggregate book value, Abacus managing director Dr Frank Wolf said.
The entire portfolio has a 97% occupancy.
The Abacus deal was brokered by CBRE agent Matt Haddon and Colliers agent Tony Iuliano.
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Propertylink adds 10 industrial properties to portfolio

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A cold storage freestanding warehouse facility in Brisbane's south-east has been sold by Ray White Commercial, bringing in $1.35 million.
The Tingalpa property, at 67 Proprietary Street, sold as vacant possession to processed food distributors PFD Foods.
The deal was negotiated by Ray White Trade Coast's Jared Doyle who said that solid interest had been seen in the facility, with a number of offers before the accepted $1.35 million.
On approximately 2,126 square metres, of which the warehouse covers 960 square metres, the facility will be an addition to PFD Food's existing premises in Lytton. “PFD Foods was looking for another food preparation facility and offices to accommodate its growing business catering for a new contract with Costco,” said Doyle. “This facility has approximately 312 square metres of mezzanine office level.  There’s approximately 521 sqaure metres of food preparation and cold storage areas and a goods receiving ability from the hardstand area.”
It caters for parking of 12 cars, and is fully fenced. Doyle noted that another bonus is the location of the property to the Gateway Motorway, Brisbane Airport and the Port of Brisbane.
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jduke-EHk3XBmHkn

Brisbane cold storage warehouse brings in $1.35 million

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An off the market sale from Barney Dear of Ray White Commercial Perth saw a warehouse/showroom snapped up in the industrial suburb of Bayswater for $875,000.
At 10 Durham Street, Bayswater, the warehouse is 565 square metres, made of brick and concrete panel, on 1,214 square metres of land.
“We were engaged to sell the property in April of this year. Prior to taking the property to the market we identified a number of possible buyers on our database and notified them that we were listing the property for sale," said Dear.
“Following an inspection with one of the buyers, an offer was received and after a period of negotiation was accepted by the owners."
The sale occurred within five days of the property being listed for sale and saw the contract go unconditional a week later.
It will settle in July - the seller's preference.
Interested parties can look to lease the warehouse from early-July 2014, for $60,000 per annum plus GST and outgoings.
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Perth warehouse/showroom snapped up for $875,000

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Leasing activity in Brisbane’s industrial market is on the improve, seeing rental growth for prime grade industrial stock and a growing pre-lease focus from tenants, according to Savills’ Spotlight on Brisbane Industrial report.
Savills Queensland associate director research Helen Swanson said that the market is competitive with new builds often more so in terms of rental rate than existing property.
“Leasing activity is particularly strong for prime grade quality warehousing, especially free-standing product,” said Swanson.
She noted that a 2.5% growth in rent has been seen for prime grade product over the 12 months to March 2014, as well as a number of significant pre-commitments. This includes DB Schenker and Northline at Redbank, and Kagan Logistics at Hemmant.
“There is also anecdotal evidence suggesting a number of other major pre-commitments may also be in the pipeline for the Brisbane market,” she said.
In the Brisbane industrial leasing market, it’s transport and logistics taking out gold as the most active – representing a huge 25% of all leasing activity over the 12 months to March 2014.
The wholesale and retail sector were responsible for 19% of all leases.
Similarly the residential market surge in south-east Queensland, which many have said is investor driven, has increased building supply demand. Despite this, the tenant market is said to still perceive that supply outweighs demand, explained Swanson.
“These two sectors are forecast to achieve strong growth over the next five years and should continue to be major takers of space in the Brisbane industrial market. These users are looking for efficiency gains and the option of brand new mega-style warehousing is appealing to some of the larger players,” she said.
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Brisbane’s industrial market on the improve with jump in rental growth: Savills

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A new $86 million development in Brisbane's south will house freight facility Toll Group, with 500 staff in the building that is the size of two Suncorp Stadiums. It employed 1,500 workers through construction and is located in the Logan Motorway Precinct.
Doors are now open on what is the largest pallets and oversize freight depot that Toll operates anywhere across the world, at 43,600 square metres for the facility on a 13 hectare site.
Premier Campbell newman, who announced the move, said that they welcome the investment and confidence into Queensland's economy.
“This new facility for Toll will be the largest in its world-wide operations and it’s encouraging they decided to open it in Queensland, the best place to live and work," he said.
“We hope Toll will continue to grow in years to come and employ more hard working Queenslanders.”
Developed by The GPT Group, it was announced in late-2012 that Toll had committed to leasing the precinct, once built, for 15 years. GPT was looking to increase their weighting in the logistics sector and have 100% ownership in this property.
At the time, head of investment management for GPT, Carmel Hourigan, said that they were bringing logistics and business parks to 15% of its portfolio.
"GPT is progressing well on this strategy having now acquired more than $200 million of industrial facilities in 2012," Hourigan said.
Toll NQX's Brisbane based offices have all been consolidated into this new office. There were previously three.
Divisional director for Toll, Mal Grimmond, said that they're hoping other businesses will invest in the state.
“The new depot has been designed to provide the absolute safest working environment for our people, which is essential in such a labour-intensive industry such as transport and logistics,” Grimmond said.
The facility includes a 2,000 square metre dedicated heavy vehicle workshop. It is in Karawatha, 22 kilometres south of Brisbane's CBD. It was chosen partly due to its access to all major arterial routes through the state's southeast.
Assisting with the development of the facility included the Queensland Department of Transport &amp; Main Roads, Brisbane City Council and Logan City Council. The architects Arqus, planners RPS, builders FDC Construction and security provider Visium were also involved.
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Freight facility Toll Group move into $86 million facility in Brisbane's south

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It's being called NSW’s great land bank rush. New data from Savills Australia showed that since 2009, more than 300 hectares of industrial land in Sydney's western precinct has been snapped up by developers and real estate investment trusts (REITs).
The great rush has seen Sydney’s industrial land banks total an estimated 1,100 hectares, the bulk of which (75%) is held in the western precinct. 
By Savills calculations the land take up in the western precinct (Eastern Creek, Erskine Park, Arndell Park, Wetherill Park, Smithfield, Yennora and Girraween) has been at over 63 hectares per year since 2009.
Pre-lease activity has accounted for about 40 hectares of land take up per year, with over 1,000,000 square metres of gross lettable area secured by tenants seeking new logistics style accommodation within this corridor. 
Houssam Yakzan of Savills Research said: “there is strong demand from all the current land bank owners in the western precinct to further increase their land holdings and for REITs that don’t have any land banks they will be aggressively seeking to purchase land to grow their development pipeline.”
“As land reserves diminish with each new development, industrial land is being hotly contested".
He also noted that there was an enormous weight of money for industrial property right now and if a fund wanted to grow, more than likely it would need to grow from organic origins – either develop speculatively or play the pre lease market on their large land banks.
With the current demand for sites in excess of 10 hectares, Yakzan believes land values will be enhanced in the short term and throughout 2014.
Values in late 2012 to early 2013, he said, sat at a rate of $200-$225 per square metre for these large sites which were serviced and benched lots.
It is now tipping rates to be revised to between $250-$275 per square metre.
Smaller sites of one hectare have already experienced an increase in value - from just under $300 in March 2013 to now averaging $325 per square metre. 
Photo courtesy of Flickr/<a href="https://creativecommons.org/licenses/by/2.0/" target="_blank">Creative Commons</a>.
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REITs snap up over 300 hectares of western Sydney industrial land

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A private investor has paid $5.25 million for a modern industrial complex in Brisbane’s Crestmead.
Located in one of Brisbane's fastest growing industrial logistics hubs, the 6-8 Radium Street property, comprises 4,358 square metres of building floor area.
The vendor of the fully leased industrial property was Rob Pilch Investments Pty Ltd.
CBRE’s Sam Higgins and Edward Bull negotiated the sale.
The property offered a diverse income spread, with three established tenants -global company Unistrut and Australian-based companies Parkridge Holdings and Leverlink.
Mr Higgins said the property attracted strong interest from a range of private investors - most notable self-managed super funds.
“Demand for properties such as the subject investment is significantly outweighing current stock levels, and as a result of this imbalance, we anticipate net yields will continue to strengthen,” he added.   
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Private investor buys Crestmead, Brisbane industrial complex

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Positive signs are emerging for Brisbane's industrial property market, with prime rents kicking 2.5% in the 12 months to March, a new report has revealed.
The spike in rents was just one of the upbeat themes outlined in Savills latest Spotlight on Brisbane industrial research report, which also showed growing tenant demand for pre-leased quality industrial space across Brisbane.
A lot of this increased focus on the pre-lease market, said the report, could be attributed to the competitive nature of this market, "where new builds can be more competitive with the rental rate than existing properties".
“Leasing activity is particularly strong for prime grade quality warehousing, especially free-standing product,” noted Savills Queensland associate director of research, Helen Swanson.
“This has led to 2.5% rental growth for prime grade product over the 12 months to March 2014."
<img src="/images/2014/05/13/chart%20may%2013%20one.png" alt="">
Boding well for the market has also been the number of significant pre-commitments from major companies in the last quarter. Among them DB Schenker and Northline at Redbank and Kagan Logistics at Hemmant.
"There is also anecdotal evidence suggesting a number of other major pre-commitments may also be in the pipeline for the Brisbane market,” said the report.
The transport and logistics sectors were identified as the most active in the Brisbane industrial leasing market, accounting for 25% of all leasing activity in the 12 months to March. The wholesale and retail sectors were the next biggest movers, accounting for 19% of all leases.
"The resurgence of the residential market within south-east Queensland has also see a huge increase in demand from the building supplies industry with many of these companies taking advantage of the lower rental rates offered by secondary product", it said.
"There is still however a lack of urgency in the tenant market with the perception that supply outweighs demand."
Those two sectors are forecast to achieve strong growth over the next five years and should continue to be major takers of space in the Brisbane industrial market.
"These users are looking for efficiency gains and the option of brand new mega-style warehousing is appealing to some of the larger players,” added Ms Swanson.
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Spike in Brisbane industrial prime rents

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Agent: Andrew Fife <img src="/images/2014/05/05/fife-may-5-breakout.jpg" alt="" style="float: right;">
Position: Industrial sales and leasing executive
Company: Colliers International
Office location: Perth
How long have you been in the industry?
Six years.
What’s happening in the area you specialise in?
We are seeing a correction in the market as a result of more stock, both for sale and for lease, becoming available.  Leasing is steady and deals are still being done with some incentives creeping into offers, but this is coming off an incentive base of nil. The sales sector is still being dominated by the owner-occupier market, as most properties are being offered for sale with vacant possession. Enquiry is very solid for investment-grade stock.
Describe the most interesting property you have sold?
Probably an irregular-shaped parcel of land which was directly under the flight path of approximately one commercial plane every 15 minutes. The planes flew directly overhead and so close to the property we had to wear ear plugs during inspections.
What are the ingredients to being successful in your job?
Doing the basics right all the time – managing relationships with existing clients, but always looking to develop new relationships to instigate new business. Delivering on what you say, understanding the market and your client’s needs. 
What aspects of your role do you enjoy the most?
Doing deals, but also delivering a result where you can see the client is pleased with what you have been able to achieve.
Where would you invest a spare $750,000?
I’d give it to PrimeWest – a property syndicator.
Which football team do you support?
West Coast.
What’s your favourite app or techno gadget? 
Footy Live
How do you use social media?
<a href="https://www.propertyobserver.com.au/https://au.linkedin.com/pub/andrew-fife/64/812/856" target="_blank">LinkedIn</a> to see what shenanigans Shane Warne is up to.
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In profile: Colliers International's industrial sales and leasing executive, Andrew Fife

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Melbourne's key western and northern suburban industrial markets have been identified as the cheapest on a rental basis in Australia. 
Data collected by Savills Australia showed that in the period to December 2013, there was a wide gap in net effective rents between the key industrial markets nationally, with rents in Melbourne at least 31% and up to 35% lower than those in Adelaide, Brisbane, Perth and Sydney.    
Savills national head of research Tony Crabb said the lower rentals were a key factor in decisions taken by both national and international corporations to locate their distribution centres in Melbourne.
He said three or four key factors mainly dominated the thinking of corporates when taking those important decisions - access to ports and airports, access to freeways, access to local markets and rentals. 
"Should all of the access criteria be equal then Melbourne rentals offer a significant cost advantage", said Crabb. "When you’re talking an average 30,000 square metre plus national distribution centre then rental savings alone can be in the order of $1 million per annum." 
Such is the interest, Savills estimates that it has received an average 250,000 to 350,000 square metres of enquiry from national and international companies seeking major distribution facilities over the past 12 months. 
Savills head of industrial Victoria, Greg Jensz said "the rent doesn’t always prove decisive but it definitely puts Melbourne in a very strong position before other factors are considered".
He said that road transport infrastructure and plans to further enhance that infrastructure also played a pivotal role in the Melbourne market’s national pre-eminence. Congested roads meant longer delivery times, greater fuel costs, and delays in delivery to clients, he added.
He also makes a point of saying that "40% of Australia’s container shipping travels through the Port of Melbourne and that is because the bulk of Australia’s national distribution centres are located here. That is no accident," Jensz said.
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