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.

Joel Robinson

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

Malaysian developer <a href="https://www.apartments.com.au/developers/s-p-setia">SP Setia</a> is the latest to jump into St Leonards booming Transport Oriented Development precinct.

The developer, which has previously delivered Sapphire by the Gardens apartment development in Melbourne, identified the Atchison Street site in 2023. It filed a Scoping Report around 12 months ago, and now has revealed the designs for the new&nbsp;40-storey mixed-use tower.

The State Significant Development Application covers <a href="https://next-portal.urban.com.au/projects/14650/summary">20-22 Atchison Street</a>, a 1,374 sqm site positioned between St Leonards Station and the new Crows Nest Metro station.

Designed by <a href="https://www.apartments.com.au/architects/cox-architecture">COX Architecture</a>, the project would deliver 181 apartments, above a four-storey commercial podium, five basement levels, and new public domain works along Mitchell Street. The apartment mix comprises 35 one-bedroom apartments, 39 one-bedroom-plus-study apartments, 85 two-bedroom apartments, and 22 three-bedroom residences.

The proposal has been lodged as a shop-top housing development under the NSW Government’s TOD planning pathway, which allows increased density around key transport infrastructure. The site sits within the recently rezoned Crows Nest Accelerated TOD Precinct.

<img alt="First look: SP Setia targets St Leonards skyline with 40-storey TOD tower" data-entity-type="file" data-entity-uuid="b799673d-48e2-46b0-801a-0e33a9330100" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/atchinson%20site.png?VersionId=dPh0UfwfaHpbFL1R7H1cbZNbIW0CHbCC" />

SP Setia acquired the Atchison Street site as part of its continued expansion into the Australian apartment market. In comments made to City &amp; Country (The Edge Malaysia) in 2023, SP Setia President and CEO Datuk Choong Kai Wai described the acquisition as “a strategic move” aligned with the group’s post-pandemic market recovery strategy.

“Our target for this exceptional development is local and overseas buyers, including first-home buyers, downsizers and investors,” Choong said.

The tower has been designed as a slender vertical form rising from a mixed-use podium, with COX Architecture positioning the development as a response to the evolving St Leonards and Crows Nest skyline.

“The purpose of the project is to facilitate the delivery of high-quality housing at a strategically located site and deliver a built tower outcome that is consistent with the desired future character of St Leonards and aligns with the TOD controls,” the design report stated.

<img alt="First look: SP Setia targets St Leonards skyline with 40-storey TOD tower" data-entity-type="file" data-entity-uuid="b1a85eee-76f7-436c-a6da-73ba827b9b13" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/atchinson%20entry.png?VersionId=dA9jHGPMcm.dDbwk4QfxqWiY5bfh3UVt" />

The podium would incorporate retail uses fronting Atchison Street, commercial tenancies, landscaped communal areas, and pedestrian improvements along Mitchell Street. Vehicle access and loading would be consolidated via Atchison Lane.

Residents would have access to more than 665 sqm of communal indoor and outdoor spaces, while the development proposes 96 parking spaces across five basement levels.

The proposal also includes a commitment for 10 per cent of residential floor space to be allocated toward affordable housing through a monetary contribution.

COX said the tower form responds directly to the emerging high-density character of the precinct while seeking to maximise solar access, cross ventilation, and outlook from apartments.

<img alt="First look: SP Setia targets St Leonards skyline with 40-storey TOD tower" data-entity-type="file" data-entity-uuid="2163f85c-f63b-4be3-aafa-f8763976cec5" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Article%20Feature%20Image%20%28Grid%29_5.png?VersionId=WiAmtIKJ6.ZQ41EtYEQ1fol7AeorKBlL" />

“The building is orientated towards north,” the Apartment Design Guide compliance report noted, adding that the tower’s slim form was driven by the constrained inner-urban site dimensions.

The design also incorporates landscaped setbacks and communal open space at podium level, intended to soften the interface with surrounding streets and improve pedestrian amenity.

The project adds to a growing wave of redevelopment proposals reshaping St Leonards and Crows Nest following the opening of the Sydney Metro City line and the NSW Government’s push for higher-density housing around major transport nodes.

Last week Stockland filed plans just down the road. They want to build a <a href="https://www.apartments.com.au/new-apartments/601-pacific-highway-st-leonards-nsw-2065">52-storey tower on Pacific Highway</a>.

Read more:&nbsp;<a href="https://www.apartments.com.au/news/nsw/first-look-stockland-plans-52-storey-538-apartment-st-leonards-tower">First look: Stockland plans 52-storey, 538-apartment St Leonards tower&nbsp;</a>

First look: SP Setia targets St Leonards skyline with 40-storey TOD tower

<a href="https://www.apartments.com.au/developers/urban-property-group">Urban Property Group</a> has revealed plans for a new mixed-use tower at 10 Dangar Street, Wickham, advancing a proposal that would reshape the southern gateway to Newcastle’s city centre with one of the city’s tallest residential buildings.

The State Significant Development proposal, now on exhibition, seeks approval for a <a href="https://www.apartments.com.au/new-apartments/bowline-10-dangar-street-wickham-nsw-2293">43-storey tower</a> immediately adjacent to the Newcastle Interchange. The project would deliver around 200 apartments, including 42 affordable housing dwellings, alongside 99 co-living units, a 171-room hotel, retail space, and new public domain integrated through the site.

The scheme marks a significant escalation of plans previously approved for the site. Urban Property Group took over the prominent 2,904 sqm parcel, where excavation and demolition had already commenced under an earlier consent for a 14-storey mixed-use development.

<img alt="First look: Urban Property Group unveils Newcastle’s next supertower at Wickham interchange" data-entity-type="file" data-entity-uuid="58a96dd9-407f-4d20-86b4-94e4bfeef74b" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/wickham%20podium.png?VersionId=LGlf08pdFGAZDzvx_CXC4XakHNZRuEE0" />

Designed by <a href="https://www.apartments.com.au/architects/sjb-architects">SJB</a>, the tower has been conceived as a landmark transit-oriented development anchored to the Newcastle Interchange precinct. The proposal includes 245 build-to-sell apartments across a mix of one, two, and three-bedroom residences, as well as two penthouses. Fifteen apartments and one operational unit are earmarked for NDIS housing. The co-living component would add a further 99 units, while the podium would accommodate retail uses and hotel facilities.

SJB said the site presents “a valuable opportunity to anchor the precinct by setting the standard for design, active ground planes and character at the key southern gateway.”

The architecture responds directly to the site’s position beside major transport infrastructure and within one of Newcastle’s fastest-evolving urban renewal precincts. The tower form sits above a sculpted podium designed to frame new public spaces, including a through-site pedestrian link connecting Station Street to Hannell Street, landscaped plazas, and activated retail edges.

<img alt="First look: Urban Property Group unveils Newcastle’s next supertower at Wickham interchange" data-entity-type="file" data-entity-uuid="a7bd6ff0-f7db-4ce8-a6dc-ea56e72c6149" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/wickham%20lanne.png?VersionId=xzf39VADyhj7zBQY2I9fx9vI62u2tuSb" />

The design report describes the project as part of the broader transition of Wickham into “a vibrant, high-quality mixed-use urban precinct” that leverages proximity to the station, open space, and regional connectivity.

A detailed public art strategy has also been prepared for the development. The strategy positions the project as “a transit-oriented development of state significance at the gateway to Newcastle’s city centre” and outlines a series of integrated artworks responding to Newcastle’s industrial and transport heritage.

Creative Road’s curatorial framework for the project, titled Unveil, draws on “stratified surfaces, carved volumes, and light-filled apertures” while referencing Newcastle’s transformation from an industrial city into a contemporary education and technology hub.

<img alt="First look: Urban Property Group unveils Newcastle’s next supertower at Wickham interchange" data-entity-type="file" data-entity-uuid="77a882bb-14b1-4d28-99ff-9438e39508c0" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/wickham%20site.png?VersionId=cevgo_vN0eKPK78P8YcEu3mKPLkpFqE7" />

The proposal is being advanced through the NSW Housing Delivery Authority pathway after being declared State Significant Development in June 2025. The accompanying scoping report states the development aims to “maximise the site’s proximity to the Newcastle Interchange by delivering transit-oriented development” while increasing housing supply and affordable housing provision within the Newcastle LGA.

Urban Property Group’s plans align with the long-term strategic vision established under the Wickham Master Plan, which identified the interchange precinct as suitable for substantial uplift in height and density. The current proposal would significantly intensify that vision, positioning the tower among the tallest developments proposed for Newcastle.

The site sits immediately north of the Newcastle Interchange, bounded by Dangar Street, Hannell Street, and Charles Street. It is surrounded by a rapidly growing cluster of residential towers and mixed-use projects that have emerged following the completion of the light rail and transport interchange.

First look: Urban Property Group unveils Newcastle’s latest tower at Wickham interchange

Bottega House has completed settlement of a landmark riverfront site in Macquarie Street, St Lucia, representing its first major Brisbane development.&nbsp;

Positioned on the banks of the Brisbane River, the <a href="https://www.apartments.com.au/new-apartments/180-macquarie-street-st-lucia-qld-4067">premium site at 180 Macquarie Street</a> features uninterrupted river frontage in one of Brisbane’s most tightly held residential precincts.&nbsp;

The proposed development, currently under assessment with Brisbane City Council, has been designed by <a href="https://www.apartments.com.au/architects/plus-studio">Plus Studio</a> with interiors by <a href="https://www.apartments.com.au/interior-designers/mim-design">Mim Design</a> and will deliver a boutique collection of premium residences positioned specifically for owner occupiers and downsizers.&nbsp;

The residences are set to redefine luxury apartment living in the area, with a focus on architectural quality, refined finishes, landscape integration and elevated amenities including curated wellness facilities, resort-style pools and recreation spaces rarely seen in the local market.&nbsp;

Exclusive sales for the project will be led by Keenan &amp; Byrne, ahead of an anticipated launch later this year.&nbsp;

Bottega House Managing Director Nick Malloch said the project reflects the group’s ambition to deliver a highly curated residential offering within one of Brisbane’s most tightly held precincts.&nbsp;

“This is an incredibly rare riverfront opportunity and one we have approached with a long-term perspective,” Malloch said.&nbsp;

“Our vision from the outset was to create a boutique collection of residences that feel more like private homes than traditional apartments, with generous proportions, refined finishes and exceptional amenity throughout."

Malloch says there is a&nbsp;lack of premium owner-occupier stock of this quality in the market, particularly for downsizers wanting space, privacy and a true lifestyle offering without compromise.&nbsp;

"Demand is expected to be strong given the scarcity of premium riverfront opportunities of this nature within Brisbane’s inner-west."&nbsp;

Bottega House secures landmark riverfront site in St Lucia 

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The arrival of the first piling rig officially marks the commencement of construction at SIERA’s new beachside apartment development, Exhale, in Northcliffe.

<a href="https://www.apartments.com.au/new-apartments/exhale-surfers-paradise-8-enderley-avenue-surfers-paradise-qld-4217">Exhale</a>, a glass-encased tower featuring 54 large-scale apartments at 8 Enderley Avenue, is SIERA’s third Gold Coast development. It follows the recently completed PIPIS Bilinga beachfront project, which achieved suburb-record prices, and the soon-to-be-completed Chevron Island development, Tapestry.

[smartcode_project:default project_id=112661 project_image_fid=359603]

<a href="https://www.apartments.com.au/developers/siera">SIERA</a> Founder and Managing Director Brent Thompson said the arrival of the piling rig represented a significant milestone for the development, which is scheduled for completion in late 2028.

Over the next month, around 260 piles are expected to be installed as work progresses on the basement structure. The building is anticipated to rise above ground level early next year, before unveiling its sculptural glass curtain wall, developed in collaboration with specialist façade engineers.

“The façade was designed to maximise panoramic coastal views while creating a distinctive architectural identity,” Thompson said.

[smartcode_project:default project_id=112661 project_image_fid=355935]

Designed by BDA Architecture, Exhale will comprise just 54 two- and three-bedroom residences across 26 levels, a level of low-density living rarely delivered in this beachside pocket between Surfers Paradise and Broadbeach.

The project has been conceived as a resident-only building, with no short-stay accommodation permitted. SIERA says the model is intended to appeal to long-term owner-occupiers rather than transient holiday demand.

[smartcode_project:default project_id=112661 project_image_fid=361052]

Residences have been designed with large-format layouts and expansive glazing, with most apartments featuring more than 30 metres of glass frontage to maximise natural light and ocean views.

The amenity offering spans two levels and centres on wellness and lifestyle, including a heated magnesium pool, sauna, yoga and Pilates studio, gymnasium, private dining facilities, cinema lounge, and dedicated surfcraft storage.

[smartcode_project:default project_id=112661 project_image_fid=359607]

More than half of the apartments have already sold. SIERA has also opened a sales gallery for Exhale at its Chevron Island commercial premises, near its Tapestry tower and the site of its second Chevron Island apartment development, which is slated to launch in early 2027.
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[smartcode_project_cta:default project_id=112661]

SIERA kicks off construction at Northcliffe tower Exhale

Industrial

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Dual lots in the north Brisbane suburb of Northgate have been bought by a private syndicate for $2.4 million.
Lot 2 and Lot 3 at 62 Crockford Street came with a combined 4,000 square metres of land area and General Industry (A) Zoning.
The off-market deal was negotiated and secured by Ray White Commercial Queensland Director – Brokerage Services Paul Anderson and Senior Sales and Leasing Executives Aaron Aleckson and Andrew Doyle.
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Anderson said the lots were sold by vendor Chuan Xin Pty Ltd with a sales rate of $600per square metre, plus GST.
“The initial sales a couple of years ago were in the low $400s, and last year, all the sales were in the $500s,” Anderson said.
“On reflection, the market has priced-in the limited supply, as there really isn't any small industrial lots available in the entire precinct now."
Aleckson said the buyers have already approached architects and had plans in place for the site’s future development.
“This will be a premium industrial project, tailored to meet the needs of corporate occupiers,” Aleckson said.
Doyle said the strategic location of Northgate was an attraction to various prospective buyers.
“It offers the many benefits associated with being right on the Gateway Motorway, with easy access to Brisbane Airport, the CBD and Airport Link Tunnel network,” Doyle.
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Dual Northgate lots sold for $2.4 million to syndicate 

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A vacant industrial warehouse in Brisbane’s northern suburb of Virginia has been sold for $1.28 million by an owner-occupier.
The property at <a id="LPlnk838539" href="http://ecomms.raywhite.com/collect/click.aspx?u=jRYOrR8N39R+6hBQZ7yXMtZbL8K1IrWjHPzGXhNPJeH4Wj/TpX07P8ntm3i2Q9vXQCIgm/yPQ5isnzJpmTWk1w==&amp;rh=ff004eb07a3a5325778caa01cf42a12e19a853d0" target="_blank" rel="noopener noreferrer" data-auth="NotApplicable">2&amp;3/107 Northlink Place</a>, comprises a 66 7sqm total floor area, made up of a 433 sqm clear span warehouse, 117 sqm refurbished office and 117 sqm mezzanine.
It was marketed and sold by Ray White Commercial Queensland’s Director – Sales and Leasing Paul Anderson and Sales and Leasing Executive Andrew Doyle. 
Mr Anderson said the property was sold for Mitchel Enterprises &amp; B25 Pty Ltd ATF, having already had a history with the vendor.
“We actually sold this exact property to the vendor seven years ago,” Mr Anderson said.   “The sale price reflects 18 per cent growth over the period of ownership.    “The warehouse has access via two container height roller doors, the ground floor office has air-conditioning and amenities, and it also benefits from 10 exclusive-use car parks.”
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2019/7/18/107%20Northlink%20-%20Internal%201.jpg" alt="">   Mr Doyle said the north side of Brisbane continued to flourish with owner-occupiers more attracted to the area than ever before. 
“Virginia is only 12km north of Brisbane CBD and Northlink Place itself leads directly to Toombul Road, offering ease of access to the Gateway Motorway and Brisbane Airport,” Mr Doyle said.
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Vacant Virginia industrial warehouse sold for $1.28 million

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A 1.64 ha industrial landholding in Carrara on the Gold Coast is on the market for the first time in 12 years.
Located in the industrial precinct at 11 Elysium Road in Carrara, the property comes with a long-term lease to CPG Resources – Mineral Technologies Pty Ltd, a subsidiary of top 100 ASX listed Downer EDI Limited.  
The property which comprises 6,180sqm of building improvements is being offered for sale by Simon Beirne and Pat Cavanagh of Colliers International via Expressions of Interest campaign. 
“This is a fully leased investment, with a 10-year lease expiring mid 2027 plus options, and a net annual rental of $855,840 with tenant paying all outgoings excluding land tax,” said Mr Beirne.  
The site coverage is about 27 per cent and comprises multiple freestanding structures including 1,388 sqm administration building over two levels with basement car park, 599 sqm laboratory/offices, and a 4,306 sqm factory that includes workshop areas, offices, storage and amenities.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2019/7/15/11%20Elysium%20Road%20Carrara_Markup_Final.jpg" alt="">
A street level carpark which features 101 bays is located at the northern and central sections of the site.  
 
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Carrara industrial investment on market after 12 years

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The Sydney industrial property market performed strongly in 2018 and will be an even more exciting market to watch in 2019, according to a recent Herron Todd White commercial report. 
There was a notable increase in demand in Sydney’s industrial market during 2018, driven by a number of factors including a strengthening economy coupled with low interest rates. 
Demand was influenced by residential infill re-zonings in traditional industrial precincts close to the Sydney CBD, airport and ports, prompting a flight from inner city areas to more outlying precincts and a chase for yields and capital growth. 
Examples of this include the Alexandria and Mascot areas and the Lower North Shore where land is being rezoned and traditional industrial users need to look further afield for good quality premises.
An Alexandria high functional freestanding commericial facility has been listed for lease with a price of $290 to $525 per sqm.
Located at<a href="https://www.realcommercial.com.au/property-industrial+warehouse-nsw-alexandria-503125458" target="_blank"> 29-31 O'Riordan Street</a> (pictured above), the property features flexible configurations up to 5,000sqm, ample car parking and extensive frontage. 
"Despite the declining residential market and the slowing of the residential development sector, we anticipate that some of these factors will continue to drive demand for industrial space, particularly in the first half of 2019. Many tenants and owner-occupiers alike are experiencing difficulty finding well located, good quality industrial space, a trend we expect to continue this year.
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"In particular, we expect that demand levels will remain reasonably strong in well-located industrial precincts with good connectivity to major transport routes and ease of access to regional business centres including Liverpool, Campbelltown, Parramatta, Blacktown and Penrith. Such precincts include Wetherill Park, Silverwater and Seven Hills.
"In 2019, we expect yield compression to stabilise and display a more subdued rate than was evident in 2018. Industrial properties are currently sold subject to relatively low yield rates, currently generally sitting between four and seven per cent. We consider that these low yields will continue for much of 2019," states the valuation firm. 
The report notes average prime grade industrial rents in Sydney remained somewhat subdued in 2017 and to an extent in 2018, when increases only seemed to appear in the later part of the year. 
"However, with the increased demand for industrial facilities and a lack of stock, we anticipate rents to grow in 2019, particularly in well located precincts that offer ease of access, transport or proximity to the CBD and ports," says the valuation firm. 
A continued lack of land supply will see premiums paid for vacant land and under-improved sites.
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"We continue to follow with anticipation the progress of the Western Sydney Airport. To date, staging works, some roads and clearing has been done. Further work is currently underway. 
"We watch this area keenly as we consider it will have a real impact on the local industrial market, especially as we get closer to the completion of the site and even now, as more and more businesses look to firm up their strategic positions for the future.
"We consider that 2019 will still see some opportunities in the market. The lower end of the market, particularly well located strata units, still present some good opportunities for both rental return and capital growth in the long term. At the other end, investors with a bigger budget will benefit from the increasing rental returns," says the valuation firm.
A high exposure corner site near Western Sydney Airport has been listed for lease with a price of $2,000 per week.
The corner site at<a href="https://www.realcommercial.com.au/property-industrial+warehouse-nsw-badgerys+creek-503082414" target="_blank"> 10 Martin Road, Badgerys Creek</a> (pictued below) includes 3 bedroom house and 130sqm shed/garage.
It's close to all the Western Sydney aerotropolis infrastructure construction. 
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The industrial market in Sydney started off on a strong note in the first quarter of 2019, particularly in the sub $10 million price bracket. The most notable larger sale (missing 2019 by one day) occurred on 31 December 2018 in South Granville. The sale represented an increase in value from around $16 million in 2014 to $24 million in 2018.
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Sydney industrial property market continues strong performance: HTW

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Anthony Carbone of CVA has leased a high exposure industrial premises located at Thomastown.
The 615 sqm premises at 157 High Street boasts a frontage of over 25m to the main street.
It was leased by Everest Institute of Education Pty Ltd who provide vocational education courses in automotive and hospitality. 
The property was leased for $110,000 per annum on a three (3) year lease plus options, equating to a building rate of $178 per sqm.
The single level property comprises showroom/office of 80sqm, warehouse of 535sqm, four RSDs, hardstand area and on-site parking for 21 vehicles.
Located close to High Street's busy retail strip, the property is 200m from Thomastown Train Station and is within 2km’s of the Metropolitan Ring Road, Dalton Road and Mahoneys Road.
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Everest Institute of Education take Thomastown industrial premises lease

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Global Industrial will relocate its Sydney manufacturing/distribution facility to Prestons, an industrial hub in the city’s south-west. 
Located at 40 Lyn Parade, the property comprises a quality freestanding industrial warehouse spanning 3,112sqm with large canopy.
The property features modern office space and amenities with internal clearances of up to 10.5 metres. 
CBRE’s Adam Tresidder, Fabio Screpis, John Tsoutsa and Elijah Shakir negotiated the five-year lease deal for an initial rental of $128 per square metre (net). 
Mr Tresidder said the property’s quality offering and location were key to the deal. 
“With great linkages to the M7 and M5 motorways, this property represented an outstanding opportunity to secure a footprint in a key industrial market,” Mr Tresidder explained.
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Global Industrial sets up shop in Sydney’s Prestons

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Land values across all Brisbane industrial precincts have trended upwards for the past three years, with the average land value increasing 5.3% to $310 per sqm, for the YoY to March 2019. 
As per the latest Colliers International Industrial Research and Forecast Report, Australia Tradecoast (ATC) experienced the strongest growth in land values for the YoY to March 2019, increasing by 9.9% to an average price of $390 per sqm, from $355 per sqm in March 2018. 
“We anticipate that the limited new development supply will continue putting upward pressure on rents in ATC over the next few years,” said Matthew Frazer-Ryan, National Director, Industrial at Colliers International. 
“As at March 2019, average prime grade net face rents are $118 per sqm, the highest out of any other precinct. 
“Average incentives fell by 1.5% to 12.5% for the YoY to March 2019, which usually is a sign of future rental growth for prime grade assets.” 
<a href="https://www.propertyobserver.com.au/images/2019/5/21/brisbane%20industrial%20.jpg" target="_blank">Click here</a> to enlarge:
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2019/5/21/brisbane%20industrial%20.jpg" alt="">
Karina Salas, Research Manager at Colliers International said they anticipate Brisbane’s industrial land values will continue to rise over the medium term. 
“This is due to the current and forecast value proposition of the investment achieving solid yield spreads compared to Sydney and Melbourne, of up to 170bp in some instances, and the significant infrastructure investment program under construction in South East Queensland. 
“According to the Brisbane City Council Industrial Strategy 2019, industrial land in the outer Brisbane regions remain under pressure from encroaching residential and other non-industrial uses and has been reduced by 10 per cent in the last five years (2 million sqm of industrial gross floor area). 
“The rezoning of industrial areas is becoming an issue worldwide as population growth continues putting pressure on land availability to meet housing demand and encroaching into industrial-use land. 
“Demand in the Brisbane industrial market continues to transition from traditional manufacturing industrial use to transport and logistics, retail warehousing and mixed industry business precincts. Ecommerce and online retail activity is changing the way the industrial market operates in Australia and Brisbane is not isolated to this trend,” said Mrs Salas.
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Brisbane industrial land values heading north

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Nail and beauty distribution giant Hawley Products has inked a five-year lease on a brand-new industrial facility in Sydney’s north west.  
The 75 5sqm office/warehouse building, located at 14 Brumby Street, Seven Hills, features container height roller door access, internal clearances of up to 8.5 metres and modern office accommodation over two levels. 
Completed in June, the property is ideally situated in proximity to the M2 Motorway, providing connection to Sydney’s major road distribution network. 
CBRE’s Matthew Alessi and Brendan Wein negotiated the lease transaction on behalf of the private lessor at a rental rate of $160 per square metre (net).  
Mr Alessi said the property’s size and location were key factors underpinning the deal.  
“After identifying this site as being on the market with another agent for more than 12 months, we were able to achieve an excellent result for both parties – with the tenant being able to increase its footprint and racking capacity, and the owner securing a long-term tenant,” Mr Alessi said.
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Hawley Products lease new industrial facility in Sydney's Seven Hills

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Logistics companies and distribution centres are driving increased demand for south-east Melbourne industrial property, according to Colliers International.
Colliers International’s Harry Larwill said new and existing occupiers are competing strongly for properties for sale and lease based on availability of significant hardstand.  
"More than 20% of our running requirements and enquiry are businesses who require some form of hardstand, which in itself is not surprising." Larwill stated.
“With land supply being such a rare commodity and reaching record prices within the eastern industrial sector, tenants and occupiers are looking for more affordable alternatives." 
The alternatives are generally existing facilities on increased land allotments which allow for future extension and where affordable alternatives can be sought.
Colliers International recently leased a property at 7 Newcomen Road in Springvale at $130/sqm.  
"The 2,349 sqm site, which is home to a 1,000 sqm building and significant hardstand, leased for $10,000 dollars more than a building double the size at 26 Lascelles Street which had no hardstand," Larwill added.
“We also had five different parties reach lease agreement stage at 25-29 Nissan Drive in Dandenong recently, at $88/sqm. This property included a 1,033 sqm building on 1,900 sqm of land."
“In Boronia, we sold 8-10 Wadhurst Drive within a month at a rate of $1,800/sqm for a 1,240 sqm building on 2,509 sqm of land.
“These recent examples all highlight the significant benefit landlords and vendors are reaping when they are able to offer a substantial hardstand component with their property,” he added 
In the latest sale, Larwill and colleagues Andrew Chrapot and Richard Wilkinson sold a 468 sqm showroom office on auction day.
Situated on 1,846 sqm of land at 2139 Princes Highway in Clayton (pictured above), the showroom office was sold to a local developer for more than $1,300/sqm (on land). 
“The ample hardstand component of the property attracted keen interest, and the strong sales result an indication of the increased value buyers are putting on land within eastern industrial locations,” Mr Larwill concluded.
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Logistics and DCs drive increased demand for industrial space in South-East Melbourne: Colliers

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Camping specialist, Thetford Australia Pty Ltd, has signed a five-year lease on its new Melbourne headquarters.
It is in the industrial hub of Somerton. 
Thetford Australia has inked a five-year lease on the 130-132 Freight Drive property.
It comprises an industrial office/warehouse spanning 2,995 sqm.
Located nearby Hume Highway and Cooper Street, the freestanding building includes dual roller door access and ample hardstand/parking. 
CBRE’s Daniel De Sanctis and Daniel Eramo, together with Alex Gazis of National Estate, negotiated the deal.
The rental is $210,000 per annum (net).  
“Given the extremely low vacancy rate for buildings sized between 2,500sqm – 4,000sqm, we were able to lease this property prior to the landlord experiencing any vacancy, ” Mr De Sanctis said.
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