Local developer Harridan is seeking to turn its Woolloongabba apartment project into the first stage of a broader transformation of Burke Street, using a new 16-storey mixed-use building to establish a greener pedestrian connection toward the rapidly evolving Boggo Road transport and knowledge precinct.

The South East Queensland developer has filed plans for 154 apartments on the <a href="https://www.apartments.com.au/new-apartments/4-burke-street-woolloongabba-qld-4102">southern side of Burke Street</a>, where its proposal has been designed alongside a wider vision by LatStudios for the street.

That vision positions the southern side of Burke Street for buildings of 15 storeys and above, while envisaging lower-rise development of up to five storeys on the northern side to transition into Woolloongabba's existing character housing. It also proposes wider pedestrian verges, deep planting, new street trees and upgrades to the pedestrian approach to Boggo Road Station.

The Harridan development itself has been designed by Brisbane-based Arqus Design and will comprise 154 apartments across 16 storeys. The mix is weighted heavily toward two-bedroom apartments, with 121 proposed alongside 10 one-bedroom and 23 three-bedroom residences. There will typically be around 14 units per floor.

A lower-ground car park and three podium levels will accommodate 156 resident parking spaces, along with visitor and commercial parking. There will also be 154 resident bicycle spaces and 40 visitor bicycle parks.

&nbsp;

Harridan is a family-owned developer and part of the Holmwood Highgate Group, with more than three decades of development activity across South East Queensland. Its portfolio spans residential, commercial and industrial property, with current residential projects including Riverbank on Byron in Bulimba, Esperance Residences in Carina and The Precinct at Kinross Road in Thornlands.

Wooloongabba has been popular for apartment developers, particularly since the announcement of the 2032 Summer Olympics games in Brisbane.

While there have been a lot of development applications, it has failed to materialize into real supply.&nbsp;

Sarazin has been the major player in the area. They are under construction at Murcia Residences, on the fringe of East Brisbane and Woolloongabba. They have just launched <a href="https://www.apartments.com.au/new-apartments/the-stanley-residences-woolloongabba-8-trafalgar-street-woolloongabba-qld-4102">The Stanley Residences</a>, in Woolloongabba on Trafalagar Street. They also have Nuage coming soon on the nearby <a href="https://www.apartments.com.au/new-apartments/nuage-woolloongabba-14-wellington-road-woolloongabba-qld-4102">Wellington Road</a>.

Joel Robinson

First look: Harridan plans Burke Street transformation beside Boggo Road transport hub

IN BRIEF

<ul>
	<li>
	Just three double-storey Sky Homes sit at the top of The Waterline, each with its own private marina berth and rooftop terrace.
	</li>
	<li>
	Construction on The Waterline is complete, with the first residents expected to move in from mid-October.
	</li>
	<li>
	Sky Homes range from 282 sqm to 367 sqm and are priced from $3.65 million.
	</li>
</ul>

<hr />
Lewis Land has opened the first completed sky home for inspection at Harbour Shores, giving buyers their first opportunity to step inside one of just three double-storey residences crowning The Waterline.

Each sky home comes with its own private marina berth, rooftop terrace and Broadwater views, combining the scale of a larger home with direct access to the boating lifestyle that underpins the wider <a href="https://www.apartments.com.au/new-apartments/harbour-shores-biggera-waters-564-oxley-drive-biggera-waters-qld-4216">Harbour Shores</a> masterplan.

[smartcode_project:default project_id=113271 project_image_fid=366708]

Lewis Land Head of Development Michael Long said the inclusion of a berth with every Sky Home had become increasingly valuable as marina access across the Gold Coast tightened.

“Marina berths are becoming increasingly difficult to secure across the Gold Coast, so including one with every Sky Home makes this a genuinely rare offering,” Long said.

“The private 70-berth marina will accommodate boats up to 12 metres in length and is positioned just 2.5 kilometres from the Broadwater, placing the open ocean only 15 minutes away.

“Being able to step out of your home onto your boat is a rare luxury, and it’s something residents here can look forward to when it opens later this year.”

[smartcode_project:default project_id=113271 project_image_fid=366709]

The display opening comes as construction completes on The Waterline, with the first residents expected to move in from mid-October.

The three Sky Homes range from 282 sqm to 367 sqm and each feature three bedrooms, three bathrooms, multiple living zones, expansive kitchens with butler's pantries and large balconies taking in the Broadwater outlook.

Each residence also has three secure basement car spaces and additional storage.

“This is the first opportunity the Gold Coast has had to step into Harbour Shores and see, touch and feel what we’re bringing to life here,” Long said.

“There are only three Sky Homes within The Waterline, ranging in size from 282sqm to 367sqm, with each residence featuring three large bedrooms, three bathrooms, multiple living zones, expansive custom-built kitchens with butler’s pantry, and large balconies capturing Broadwater views.”

<img alt="Harbour Shores" data-entity-type="file" data-entity-uuid="bab65e10-4fab-45e1-92d8-fc56e2ab98ff" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-25%20at%202.00.16%E2%80%AFPM.png?VersionId=XT8q76LsPkw3cYTsvN3JfFDaPLud90PN" />

Residents of The Waterline will have access to a private pool, along with Harbour Shores' wider collection of amenity including a lagoon pool, social clubhouse, tennis court, gym, yoga facilities and sauna.

Lewis Land partnered with Studio Collective to furnish the completed display, with the interiors designed to demonstrate how the residences could function as permanent homes rather than simply as show apartments.

Studio Collective Director Melissa Park said the surrounding waterways informed the interiors, but in a more restrained way than a traditional coastal scheme.

“We drew inspiration from the canals and coastal surrounds, but our approach was to interpret that subtly through layered materials and a grounded palette of earthy tones, rather than literal coastal references,” Park said.

“We introduced hero moments of green and teal to reference the surrounding waterways, while mirrored elements help reflect natural light.

“The result is a residence that feels elevated yet comfortable, somewhere buyers can genuinely imagine themselves living, entertaining and unwinding.”

Sky Homes are priced from $3.65 million.

Lewis Land is also offering private marina berths with The Residences, its limited collection of three and four-bedroom villas positioned directly along the Harbour Shores waterfront boardwalk.

Three-bedroom villas are priced from $2.99 million, while four-bedroom residences start from $3.19 million.

Harbour Shores is being marketed by Colliers International.

[smartcode_project_cta:default project_id=113271]

Lewis Land opens sky home display as The Waterline completes at Harbour Shores

St Vincent de Paul Society Housing Australia has filed plans for a major mixed-use housing precinct on the southern edge of the North Sydney CBD, adding another significant proposal to a pocket around North Sydn​ey Station that is quickly becoming one of the LGA's busiest development zones.

The State Significant Development Application covers a 5,990 sqm site at <a href="https://www.apartments.com.au/new-apartments/1-19-mackenzie-street-lavender-bay-nsw-2060">1-19 MacKenzie Street and 211 Blues Point Road in Lavender Bay</a>, immediately south of Nor​th Sydney Station and between the commercial core and the lower-rise Lavender Bay Heritage Conservation Area.

Designed by Wardle, the proposal would deliver a new residential tower comprising 88 build-to-sell apartments and 19 affordable apartments, alongside a separate co-living building with 57 rooms and a building manager's studio.

It would also see the significant restoration and upgrade of St Francis Xavier Catholic Church, the adaptive reuse of the former school building, new parish facilities, retail, a new public square and around 1,000 sqm of publicly accessible open space.

<img alt="Vinnies North Sydney" data-entity-type="file" data-entity-uuid="d5dd7f87-a617-463e-b577-17541e01f0e9" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-26%20at%209.10.13%E2%80%AFAM.png?VersionId=4R8TsFN3P_LrrXO2HswTOIrx2blil8lh" />

The project is seeking a concurrent rezoning of the site to R4 High Density Residential and an increase in the maximum building height to allow a tower reaching RL120, or up to 20 storeys. The proposal was progressed through the NSW Government's Housing Delivery Authority pathway.

The build-to-sell component will be weighted toward larger apartments, with just six one-bedroom apartments compared with 31 two-beds, 43 three-beds and eight four-bedroom residences.

The 19 affordable apartments will comprise two studios, 15 one-bedroom apartments and two two-bedroom apartments, taking the total apartment component to 107 residences before the 58 co-living rooms are included.

<img alt="Vnnies" data-entity-type="file" data-entity-uuid="7d568ca5-cb90-4e18-96c6-d9795dba0c56" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-26%20at%209.10.05%E2%80%AFAM.png?VersionId=GY2R5M9VtQh0EKy1vajaea19PSLOPuRD" />

Wardle's design for the Vinnies site has sought to negotiate that emerging high-rise context while retaining the lower-scale character of MacKenzie Street and the adjoining heritage conservation area.

The main building adopts a three-storey podium and tower arrangement, with the podium aligned to the ridgeline and front setback of St Francis Xavier Church.&nbsp;Wardle has designed the podium with colonnades, seating, recessed entries and active ground-floor frontages, with sandstone-toned precast concrete and face brick referencing the materiality of the existing church.

The tower then steps back eight metres to the south and six metres to the north before rising in a sculpted form comprising four interlocking quadrants. Wardle has also introduced rounded forms and chamfered corners to reduce the tower's perceived bulk and improve view sharing with neighbouring development sites.

Resident facilities and outdoor areas are planned at the separation between the podium and tower at Level 3, oriented toward Sydney Harbour and the CBD skyline.

The tower itself will feature a glass reinforced concrete facade, with recessed balconies and deep reveals used both to provide shading and privacy and frame views toward the harbour and city. The lower levels take a different architectural approach, using brick and sandstone-toned finishes intended to establish a stronger relationship with St Francis Xavier Church. The Church itself will be conserved and upgraded for its continued use, while the former school building will be adaptively reused as part of the co-living component.

<img alt="Lavendar Bay" data-entity-type="file" data-entity-uuid="2d4418ad-90aa-4d49-af93-c80b140aea80" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-26%20at%209.09.47%E2%80%AFAM.png?VersionId=Kv4gzbsACaGvZSRuaqcfGC54jEJRXIDJ" />

&nbsp;

The proposal adds to an increasingly concentrated pipeline of residential development around Blue Street, MacKenzie Street and Lavender Bay.

Just west of the site, Central Element lodged plans earlier this year for one of the most significant residential developments proposed in Lavender Bay in recent years.

Central Element's SJB-designed scheme at 64-66 Lavender Street and 3-7 Middlemiss Street would deliver 163 apartments across two towers rising 23 and 32 storeys, replacing five existing apartment buildings containing 32 homes. The project also forms part of the Housing Delivery Authority pathway.

<a href="https://www.apartments.com.au/news/nsw/first-look-central-element-reveals-lavender-bay-apartment-plans?utm_source=chatgpt.com" rel="noopener" target="_blank">First look: Central Element reveals Lavender Bay apartment plans</a>

Immediately around North Sy​dney Station, another two significant proposals have emerged at 5 and 15 Blue Street.

Zurich Australian Insurance Properties is seeking to adaptively reuse its longstanding commercial building at 5 Blue Street, directly above North Sydney Station, rather than demolishing the structure.

Its SSDA proposes converting the building into a 14-storey mixed-use development with 62 apartments and 86 co-living rooms, together with ground-floor retail and a major refurbishment of Blue Street Plaza. The application is currently at the Response to Submissions stage.

<a href="https://www.apartments.com.au/news/nsw/first-look-zurich-targets-north-sydney-office-conversion-with-148-unit-proposal-above-metro-station">First look: Zurich targets North Sydney office conversion with 148-unit proposal above Metro station</a>

&nbsp;

First look: Vinnies files for 20-storey Lavender Bay apartment tower as North Sydney housing pocket heats up

When the opportunity arose for South Australian developer Palumbo to return to Kent Town, where it had previously delivered East Park Apartments and the East 
Rundle Apartments, it wasn't one the longstanding developer-builder was going to pass up.

The decision was quickly vindicated, with more than 30 apartments sold within the first month of launching <a href="https://www.apartments.com.au/new-apartments/royal-apartments-kent-town-2-8-north-terrace-kent-town-sa-5067">Royal Apartments</a> to the market.

The 206-apartment development, which will bring significant new supply to Adelaide's tightly held eastern city fringe, also gives <a href="https://www.apartments.com.au/developers/palumbo">Palumbo</a> the opportunity to bring new life to one of Kent Town's most recognisable watering holes.

[smartcode_project:default project_id=6109 project_image_fid=376073]

Royal Apartments incorporates the historic Royal Hotel, a venue Palumbo Managing Director Daniel Palumbo said has a longstanding connection with the local community.

"Everyone in the area has history with the Royal Hotel," Palumbo told Apartments.com.au.

"It was quite an active pub and social gathering place for locals. We want to bring it back to its former glory."

[smartcode_project:default project_id=6109 project_image_fid=376072]

The wider development will comprise two residential towers alongside the restored hotel, sitting on North Terrace opposite the Adelaide Park Lands.

For Palumbo, the project also marks a return to familiar territory.

The developer completed East Park Apartments next door more than a decade ago and jumped at the opportunity to develop in Kent Town again when the Royal Hotel site became available.

"The opportunity emerged, and we moved to secure the site," Palumbo said.

"We were approached by the previous landowner, who said they had extensive commitments in Sydney and weren't in a position to deliver the project.

"We took over the site and within six months recut the design scheme to be more in keeping with the type of development we want to bring to Adelaide.

"Now we're on the market and those changes have really resonated with local buyers."

That has translated into a strong start to sales, with 33 apartments transacting in the project's first 35 days.

Palumbo said the early purchaser profile had been consistent with the group's traditional focus on owner-occupiers rather than investor-led apartment stock.

"Local owner-occupiers have always been our market," he said.

"There are always some investors, but we've never developed what would be called traditional development stock. Owner-occupiers are very much our market."

[smartcode_project:default project_id=6109 project_image_fid=376068]

The buyer mix has been diverse so far, with downsizers and younger professionals both accounting for a significant portion of early sales.

South Australia's current stamp duty settings, which allow&nbsp;eligible homeowners in South Australia aged 60 savings of up to $103,830 on stamp duty when they downsize to a new property valued at up to $2 million,&nbsp;have helped encourage downsizer activity, while younger buyers in their late 20s and early 30s have been attracted to the opportunity to live immediately outside the CBD while still being able to walk into the city.



Location has been a major part of the proposition for both buyer cohorts.

[smartcode_project:default project_id=6109 project_image_fid=376075]

Royal Apartments sits on North Terrace directly opposite the Adelaide Park Lands, with residents able to walk through the parklands toward the East End, Rundle Street and Rundle Mall.

Apartments have been positioned to capture views across the parklands, Adelaide skyline, Botanic Gardens and Adelaide Hills.

Palumbo believes the scarcity of developable land along this section of the Park Lands makes the site particularly difficult to replicate.

"There's very few allotments on that side that can be developed," he said.

"If this location was in New York and you were sitting on Central Park, you'd be talking about a $60 million apartments."

Royal Apartments will offer a broad mix of residences, ranging from one-bedroom apartments through to four-bedroom sub-penthouses and penthouses.

Current listings include one-bedroom apartments from $680,000, while larger three and four-bedroom residences are priced around $2.5 million.

Residents will have access to a swimming pool, gym, barbecue and recreation areas, residents' lounge and dining space, and a communal deck.

[smartcode_project:default project_id=6109 project_image_fid=376067]

The apartments will feature generous balconies, while secure parking, bicycle storage and storage cages will also be provided.

A porte-cochère-style arrival and drop-off area has also resonated with buyers, particularly those attracted to being able to walk into the CBD during the day while retaining secure vehicle access at home.

Palumbo is acting as developer, architect and builder on Royal Apartments, continuing the vertically integrated model it has used across its South Australian portfolio.

The group was also behind the $150 million Sofitel Adelaide, the 251-room five-star hotel and residential tower which opened in 2021.

Palumbo said Royal's launch had come at an interesting time for the broader Adelaide apartment market.

Buyer confidence had initially been impacted by uncertainty surrounding the Federal Budget and broader economic conditions, but Palumbo believes sentiment is beginning to improve against a backdrop of significant investment flowing into South Australia.

He pointed to increased activity across defence and resources, including Olympic Dam, as potential long-term drivers of the state's economy and housing market.

"Money is starting to flow into Adeliade, significant amounts as Adelaide bucks the trend of the rest of the country.," Palumbo said.

"There's a lot of activity in the economy over the next decade. I think more investment will come into this market."

Early works on Royal Apartments are expected to commence this year, with major construction activity and cranes anticipated on site from early next year.

[smartcode_project_cta:default project_id=6109]

Palumbo's return to Kent Town strikes early chord with buyers

Go-to builder-developer <a href="https://www.apartments.com.au/developers/graya">GRAYA</a> is continuing to bulk out its already impressive and diverse apartment portfolio across South East Queensland. Their latest milestone is securing development approval for Silk, its boutique riverfront apartment development in St Lucia.

The approval clears&nbsp;the way for the team to begin construction planning for the 22-residence project.

<a href="https://www.apartments.com.au/new-apartments/silk-st-lucia-16-18-sandford-street-st-lucia-qld-4067">Silk</a> will rise 15 levels from an 810 sqm site at 16-18 Sandford Street, occupying a prominent bend of the Brisbane River with a prized northern aspect across Orleigh Park toward the Brisbane CBD.

The approved scheme will comprise 16 split-floor and six full-floor residences, continuing GRAYA's move into larger-format apartment developments targeting Brisbane's prestige owner-occupier market.

The project has been designed around the site's broad river frontage and dual-direction views, with GRAYA prioritising larger residences, privacy and outlook over apartment yield.

<img alt="Silk St Lucia" data-entity-type="file" data-entity-uuid="aa5c2349-f96c-4914-a812-1f2cd6827af8" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-26%20at%208.25.44%E2%80%AFAM.png?VersionId=WY0vEU_7vYjeRJKQHiCwFdMxu8PvFh52" />

GRAYA Co-founder and Chief Executive Officer Rob Gray said the project had been shaped around local homeowners wanting to remain in St Lucia without maintaining a traditional family home.

"St Lucia is one of those suburbs people do not want to leave," Gray said.

"They know the river, the trees, UQ, the golf course, Toowong and Indooroopilly, and that familiarity is hard to replace.

"True riverfront opportunities here are exceptionally scarce. What we have designed at Silk is a way to stay in the suburb people love, with the scale and privacy of a private home and far less to maintain.

"This is not typical apartment product. It is a proper home on the river, and that is exactly what this market has been missing."

The approval comes as new apartment development continues to increase across the St Lucia and neighbouring Toowong corridor, although direct riverfront sites remain considerably more tightly held.

GRAYA Co-founder and Managing Director Andrew Gray said securing the approval had removed a significant element of development risk from Silk.

"Genuine riverfront sites of this quality in St Lucia are not something that comes up regularly," Gray said.

"The approval removes a substantial layer of execution risk, and the location underwrites demand in a way very few inner-city sites can.

"The fundamentals here are as strong as anything we have assessed in Brisbane."

<img alt="Silk St Lucia" data-entity-type="file" data-entity-uuid="d0f3d734-65e1-48e8-8ed3-2e0715ffcdd9" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-26%20at%208.25.56%E2%80%AFAM.png?VersionId=sOLSs_jdHkXLWbBKzRyayf5BfTb2vPsD" />

Silk will see GRAYA return to a stretch of the Brisbane River where it already has recent construction experience. The vertically integrated group recently completed ARC in neighbouring Toowong as builder for developer Spyre, delivering the riverfront project on a constrained site.

GRAYA will take a different role at Silk, controlling the project from design and development through construction and aftercare under its vertically integrated model.

The development will include a gym and resident leisure areas at ground level, integrated with the river's edge.

Silk joins a growing pipeline for GRAYA across Brisbane and the Gold Coast, which includes Enclave, The Gallery, Coral and Ripple.

The developer-builder has also recently lodged plans for its largest project to date, <a href="https://www.apartments.com.au/new-apartments/the-silo-19-chester-street-newstead-qld-4006">The Silo</a>, a proposed <a href="https://www.apartments.com.au/news/qld/graya-buys-frasers-newstead-site-plans-the-silo-between-james-street-and-gasworks-precincts">$700 million mixed-use development</a> in Brisbane's James Street precinct.

Silk is expected to predominantly target local owner-occupiers and prestige buyers seeking a permanent riverfront home in Brisbane's inner west.

Registrations of interest are now open, with further details on the project and construction program to be released as it progresses.

<hr />
<h2>SILK PROJECT FACTS</h2>

Developer-builder: GRAYA

Project: Silk

Location: 16-18 Sandford Street, St Lucia

Apartments: 22

Built form: 15 levels

Site: 810 sqm riverfront holding

Mix: 16 split-floor and six full-floor residences

Status: Development approved

Next step: Construction planning underway

[smartcode_project_cta:default project_id=152168]

GRAYA greenlit for riverfront St Lucia apartment development, Silk

Industrial

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High performance compounds and concentrate supplier A.Schulman Pty Ltd has moved to Melbourne, with the company acquiring an industrial warehouse/office for its Australian operations.
Located in Melbourne's south east, the subsidiary of Ohio-based global materials firm A.Schuman Inc. has secured the long term tenancy of <a href="https://www.realcommercial.com.au/property-industrial+warehouse-vic-mordialloc-501745722" target="_blank">1/13 Japaddy Street</a> in Mordialloc.
Leasing agent Ryan Amley of Ray White Commercial Oakleigh said the versatile property is strategically positioned off Boundary Road in the sought after Braeisde industralia precinct.
The 1672 sqm building area includes a 193 sqm partitioned office space and 178 sqm of warehouse.
The site also features a 6.9 metre high clearance warehouse, two container height roller doors and a heavy power supply.
Headquartered in Akron, Ohio, A. Schulman employs about 3,000 people worldwide and has manufacturing and support facilities in North and South America, Europe and the Asia-Pacific region. Its stock is quoted on the Nasdaq National Market System.
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jrobinson-rf4aSBido9

Mordialloc industrial site leased

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A speculatively built industrial property comprising six units at Braeside in Melbourne’s south-east has sold for a total of $1.84 million and an average $2,200 a square metre.
Developed by Melbourne-based Ballantyne Builders, the units ranging from 123 to 162 square metres, sold before completion. 
Located at 20 Canterbury Road in a well-established industrial estate, it boasts of tenants such as Nissan Motorsport, Fabtronics Australia and Weber Performance.
"The units were designed to meet pent-up demand in this sector and with few similar units of comparable price and quality available, were quickly taken up," said Chris Telley of Savills, who brokered the deals with Gareth Jackson and Nixon Industrial.
He added that the quick sales were driven by the price point, truck access, secure premises, and size. They are close to Wells Road, Governor Road and Springvale Road.
"Ballantyne seized on a market opportunity and were well rewarded,’’ Telley said.
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j.ballantyne1990-6AQqhLzZaK

Six industrial units in Melbourne's Braeside sell for $1.84 million

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Darwin’s industrial property market has been relatively steady throughout 2015, according to the Herron Todd White latest report.
There has been much speculation locally about the imminent Inpex cliff project.
The construction phase of this project is expected to be completed in 2017 and will therefore no longer compete for all types of resources in Darwin, including property.
"Our expectation in the industrial property sector at least is that demand for industrial accommodation should continue at current levels.
"The commencement of the production phase for Inpex will see demand shift from construction to maintenance which will still require significant accommodation."
Peak periods will also be experienced at shutdowns and if future trains of either Inpex or the Conoco Philips plant are commissioned.
Local property is as well placed as it has ever been to supply the necessary land for the required developments.
There is a choice of a number of industrial estates and we note that work is commencing on the new Truck Central site at the corner of Tiger Brennan Drive and Tivendale Road.
This will include blocks of land available for development associated with the transport industry.
While there were few landmark sales in 2015, the industrial property market in Darwin moved along steadily through the year.
"It would be fair to say that it fared better than most other market segments in Darwin and still retains a positive outlook," the report noted. 
 
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Inpex underpins Darwin industrial property: Herron Todd White

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An upswing in the Melbourne and Sydney commercial property markets is expected to continue for the next two years, according to the Property Directions Survey by the Australian Property Institute.
API NSW president George Vallas respondents to the survey were asked to plot their predictions of where the national commercial markets would be against a property clock, with 12 o'clock indicating the peak of a cycle and 6 o'clock indicating the bottom.
"Currently, commercial property in Sydney and Melbourne is at 10 o'clock on the property clock. Respondents to our survey expect that commercial property markets in these cities will be at 11 o'clock next year, and 12 o'clock in 2017," he said. 
"Commercial property in Brisbane is expected to remain at approximately the same position over the next two years, which is almost halfway along the upswing of the property cycle.
"Industrial and retail property is currently at approximately the same point on the upswing of the property cycle (10 o'clock) across Sydney, Melbourne and Brisbane, with some way to go until it reaches its peak. The exception is retail property in Brisbane, which is currently at 9 o'clock. 
"By 2017, both retail and industrial property across all three cities will have reached the top of the property cycle."
 
<a href="/images/2015/11/18/Screen%20Shot%202015-11-18%20at%201.11.38%20PM.png" target="_blank">Click to enlarge</a>
2015
<img src="/images/2015/11/18/Screen%20Shot%202015-11-18%20at%201.11.38%20PM.png" alt="">
 
<a href="/images/2015/11/18/Screen%20Shot%202015-11-18%20at%201.18.29%20PM.png" target="_blank">Click to enlarge</a>
2016
<img src="/images/2015/11/18/Screen%20Shot%202015-11-18%20at%201.18.29%20PM.png" alt="">
<a href="/images/2015/11/18/Screen%20Shot%202015-11-18%20at%201.19.34%20PM.png" target="_blank">Click to enlarge</a>
2017
<img src="/images/2015/11/18/Screen%20Shot%202015-11-18%20at%201.19.34%20PM.png" alt="">
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Growth still coming for Sydney, Melbourne commercial property

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Throughout 2015 there has been a substantial increase in transaction activity, says valuation firm Herron Todd White's recent month in review.
The report suggests however that this is by far more heavily weighted to prime assets and larger assets offering a strong WALE of five plus years.
"Buyer and market activity for investment properties with solid WALEs in the greater Brisbane area is very strong at present due to the low interest rate environment.
"This has resulted in firming yields for these prime assets over the past 18 months, evidenced in the above table."
However, the report does go on to add that there is increasing disparity between prime and secondary stock with strong yields for primary stock ranging between 7% and 8.5% and relatively soft yields for secondary stock ranging between 8.5% and 10%.
"The spike in demand for these more modern assets is driven largely by the limited supply being constructed which is a by-product of the hesitation to proceed without some certainty of future cash flow and hence the need for a pre-commitment.
"There has been an increase in leasing activity for prime industrial investment properties in the greater Brisbane area which is a positive sign in a somewhat volatile broader industrial market."
The report concludes by suggesting that the secondary stock is not as attractive with rents falling and vacancy rates increasing.
"Rents for prime industrial assets are ranging between $100 and $140 per square metre per annum net with secondary assets ranging between $60 and $95 per square metre per annum."
 
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Industrial property rent decines in Brisbane's secondary markets: HTW

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Austlander Developments Pty Ltd has bought an infill development site at Keysborough in Melbourne’s south-east with plans for an industrial estate, paying $5.69 million.
Located at 241 Perry Road, the property comprises a 5.66 hectare allotment zoned Industrial 1 and adjoining Fraser Property’s (formerly Australand) Key Industrial Park.
The deal was brokered by Paul Jones and Kosta Filinis of Savills Australia.
Austlander will seek to subdivide the land into 29 x 1000 square metre and two x 7000 square metre lots.
"This is a prime industrial development site, adjacent to a successful and very popular industrial estate with excellent access to Greens Road and EastLink," Jones said.
He said Austlander was confident an industrial subdivision would attract tenants given the south-east’s status as one of Australia’s fastest growing regions.
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Austlander buys infill development site in Melbourne's Keysborough for $5.69 million

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Sydney's industrial sector has had a strong 2015 in which the emergence and recovery of the sector throughout 2013 and 2014 has been consolidated, according to the valuation firm Herron Todd White.
Some of the Sydney’s highest performing areas continue to include the South Sydney region which remains the beneficiary of the increasing shift of older style industrial facilities into more high-tech accommodation, the latest HTW report suggests.
"The demand for this type of stock has seen capital rates increase throughout the calendar year, with smaller stock achieving rates up to and above $3,500 per square metre.
"Larger industrial holdings within this precinct benefit from their proximity to the Port Botany precinct, which appears to be one of the main drivers of demand in this sector."
The report goes on to state that the gentrification of industrial precincts in close proximity to the Sydney CBD such as South Sydney, as well as Sydney’s ever steady push to the west is resulting in the emergence of industrial precincts such as Marsden Park, Eastern Creek, Erskine Park and the like developing into strong contenders in the Sydney industrial market.
"Demand levels have increased in these areas progressively over the past few years, though with the ongoing completion of infrastructure in these locations, demand has continued to strengthen in 2015 with a number of national distribution facilities setting up in this region (Woolworths, Linfox, BlueScope Steel)."
The HTW review adds that the Sutherland Shire/St George industrial sector has witnessed capital rate increases over 2015 with torrens and strata title properties commonly achieving rates over and above $2,000 per square metre.
"The strength of this market is driven by a dominant owner occupier sector, with a strong presence of local tradesmen occupying this precinct.
"Generally speaking, industrial yields have fallen, in keeping with all sectors across the Sydney property market."
The report concludes by explaining the fall in yields in consistent with the historically low interest rates and an increase in capital values while rental rates have largely remained stable.
"Larger prime assets are typically achieving yields ranging between 7.5% and 9%, dependent on size, while smaller assets have fallen to the 5% to 7% range."
 
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Sydney remains strong in industrial property sector: Herron Todd White

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GM Property Group has paid $16.95 million for an industrial property with a yield of 7.34% in Melbourne's south-east suburb Mulgrave.
The property, 730-750 Springvale Road, was sold subject to a weighted annual lease expiry of five years at circa $1.2 million per annum nt. 
Tenants include Shop Fitters &amp; Building Services, Moffat, Form A Sign, and ACER.
The deal was brokered off-market by Savills Australia Directors, Chris Jones and Ben Hegerty.
Chris Jones said the industrial property is on a strategic main road, south-eastern locality, with minimal vacancy levels, at a price which reflected an excellent land value component and reflected an underlying land value equivalent to approximately 75% of the value of the property.
 
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GM Property pays $16.9 million for Mulgrave industrial property

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A purpose-built OneSteel Reinforcing property in Bundamba’s Citiswich Business Park in Brisbane has been sold to a Sydney-based private investor for $3.784 million.
The 48 Hawkins Crescent property is spread over 5,586 square metres in one of Brisbane’s fastest growing industrial growth corridors.
The Citiswich Business Park is a retail and manufacturing hub designed to cater for heavy industrial users.
It is home to companies such as The Reject Shop, Australian Pharmaceutical Industries and Masters.
Sam Stewart and Shaun Canniffe of JLL Industrial brokered the sale of the property, which attracted close to 50 enquiries.
Despite being purpose built for OneSteel Reinforcing, the 2,045 square metre facility hosts a generic floor plate packed with features to suit a wide range of industrial users.
With a guaranteed income until September 2019, and high levels of long-term growth predicted in the area, the property offers attractive future returns.
“The buyer saw significant value in the sites proximity to transport infrastructure and direct exposure to the Warrego Highway,” Shaun Canniffe said. 
For vendor Investec Australia Property Fund, the deal was about exiting a non-core asset at a good price.
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Industrial property in Brisbane's Citiswich sells for $3.78 million

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A property leased out to industrial equipment maker Alfa Laval at Huntingwood fetched a cool $7.475 million at Burgess Rawson's 100th portfolio auction.
Alfa Laval has occupied the building at 14 Healey Street for the past 15 years. It lies 10 km west of Parramatta.
The property occupies 2,956 square metres for its office and warehouse. It is located on 7,658 square metres of land that includes car parking for 60.
The net income is estimated at $435,000 pa plus GST, giving a yield of about 5.8%.
The lease is for 10 years with a further five-year option.
Alfa Laval is a Swedish multinational company employing 18,000 people and is well-known for its heat transfer, separation and fluid handling technologies. 
It made sales of circa $6 billion in 2014.
The property has scope for "Stage 2 Warehouse" development.
There are annual rental increases and the tenant pays all outgoings.
The property was sold by Simon Staddon and Dean Venturato.
 
Beginning in 1975, Burgess Rawson established a nationwide network of offices and is Australia's largest locally owned and operated commercial property agency, marketing more than 10,000 properties and generating sales in excess of $25 billion over the past 40 years. For more information, <a href="https://www.burgessrawson.com.au/portfolio-auctions" target="_blank">click here</a>.
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