Welcome to Issue 73 of The Property Development Review, exclusively for agents, developers and investors.
AUGUST / SEPTEMBER 2026 - ISSUE NUMBER 75
EXCLUSIVELY FOR PROPERTY DEVELOPERS, INVESTORS & AGENTS ACROSS ASIA-PACIFIC
LISTINGS The latest commercial assets & development opportunities for sale from across Australia.
INTERVIEWS Exclusive feature profiles of the Country’s most successful business & property thought leaders
ANALYSIS Unique perspectives from the deal-makers on the ground.
Ready Media Group Targets Surging Gulf Capital Pipeline
Dubai and the UAE added to the company's global distribution network, giving agents a direct line to one of the world's fastest-growing investor markets.
Suburban mixed-zoned development sites are increasingly Ready Media Group has expanded its international distribution network into Dubai and the UAE for the first time, extending its commercial property campaign reach across six international markets. The move comes as offshore investment in Australian commercial real estate continues to climb. MSCI’s Australia Capital Trends report shows international investors accounted for 40 per cent of direct acquisitions in 2025, deploying $19.7 billion into the sector across the year. Total transaction volumes reached $49.8 billion, up 6 per cent year-on-year - the second consecutive annual increase. While capital from the United States, Japan and South Korea continues to dominate large-scale acquisitions, Gulf investor activity is rising sharply, particularly across A-grade commercial buildings, retail assets and development sites across Australia’s major markets. That momentum is being fuelled, in part, by a rapid concentration of globally mobile wealth in the region. The UAE has emerged as one of the world’s largest destinations for wealthy migrants, with Henley & Partners recording 9,800 net millionaire inflows into the country during 2025 alone. Conditions in early 2026 have further heightened interest in stable offshore markets, with Australia continuing to attract attention for its legal framework, political stability and transparent property sector. Recent federal government restrictions on established residential purchases by foreign buyers are expected to redirect offshore focus toward commercial assets and development opportunities. AUSTRALIAN AGENTS GAIN A DIRECT LINE INTO GULF CAPITAL To capitalise on the growth, Ready Media Group has added Dubai and UAE audiences to its Global Social Amplifier, an international
distribution product available as part of the company’s Gold Max campaigns. The platform simultaneously distributes campaigns across Australia, the United States, the United Kingdom, Canada, the APAC region, and now the Gulf, using targeted advertising across Meta and LinkedIn. For Australian agents, it provides a direct channel into high-net-worth buyer segments and offshore investor groups seeking commercial and development assets, which rarely surface through domestic campaign channels. RWC Queensland Managing Director Tom Barr said the Global Social Amplifier had broadened the company’s exposure and deepened engagement with its target buyer market. “It helped generate stronger competition and contributed to an outstanding result for the vendor,” Mr Barr said. Robert Dunne, Director at Savills Brisbane, said the platform had opened new enquiry pathways for commercial assets and development sites. “Ready Media’s Global Social Media Amplifier generated valuable engagement with offshore groups we had not previously connected with,” Mr Dunne said. “As a highly cost-effective enhancement to their Gold Max package, it has delivered strong results across multiple campaigns. We now include it as a standard component in the marketing schedule for our A-grade sites and assets.”
To find out more about the Global Social Amplifier and how it can expand your campaign reach, contact Ready Media Group today.
2 – August / September 2026
WELCOME
CONTENTS
CONNECT WITH US THE PROPERTY DEVELOPMENT REVIEW: Online Issues: developmentready.com.au/content hub DEVELOPMENTREADY: Website: developmentready.com.au SoundCloud: /readymediagroup LinkedIn: @developmentready Facebook:/developmentready The Interview YouTube: @TheInterviewAU Instagram:@development_ready COMMERCIAL READY: Website: commercialready.com.au Finally, we bring you the latest Australia-wide listings and Market Moves, covering notable property transactions. Enjoy the read. acquisition of stakes in Westfield Carindale and Lakeside Joondalup, alongside Brett Blundy’s $700 million return to Bras N Things, Bonds, Berlei and Sheridan. We also look beyond Australia to Bati Ni Wai Tui, a spectacular beachfront estate on Fiji’s Malolo Island, offered to the market for the first time. Welcome to the August/September 2026 issue of Property Development Review, bringing together perspectives on capital, development, regulation, technology, retail and the people shaping Australia’s property landscape. Our key interview features the legendary Guido Belgiorno- Nettis AM, Managing Director of Transfield Holdings, in conversation with Rob Langton. He reflects on his family’s journey from post-war Italy to Transfield and a legacy spanning business, art, culture and philanthropy — and the responsibility that comes with it. We examine the Federal Government’s 2026–27 tax reforms and what changes to negative gearing, capital gains tax and infrastructure funding could mean for developers, while new AML/CTF obligations bring heightened regulatory scrutiny to the property sector. Development opportunities feature strongly, from a substantial mixed-use landholding in Parnell, Auckland, and Bronxx’s proposed uplift at Ramsgate, to signs that Melbourne’s development market is shifting into growth mode. More than $1.5 billion was deployed across Victorian development sites in the first half of 2026, signalling renewed confidence among local developers. Technology is also transforming the sector, with AI potentially reducing commercial property valuation turnaround times from days to hours while retaining the critical role of professional judgement. In retail, we examine Cbus Property’s $1.3 billion
05 THE INTERVIEW Guido Belgiorno-Nettis AM Managing Director of Transfield Holdings
06 TAX What the property tax overhaul means for developers Ready Media Group
33
07
DEVELOPMENT MARKET - MELBOURNE Melbourne’s Development Market Shifts Into Growth Mode Cushman & Wakefield
NEW ZEALAND - DEVELOPMENT Scale, flexibility and prime positioning in Parnell, Auckland, New Zealand Ready Media Group
34
VIC OPPORTUNITIES
09 OFFICE - MELBOURNE
Big Squeeze: Supply crunch looms over Melbourne office rebound Ready Media Group
44
RESORTS Kooralbyn Valley Resort and Development Precinct Offered to the Market Ready Media Group
11
ARTIFICIAL INTELLIGENCE Artificial Intelligence Could Cut Commercial Property Valuations
from Days to Hours Ready Media Group
45 RETAIL
Lendlease Wraps Up APPF Retail with $1.3bn Cbus Deal for Qld, WA Centres
12 MARKET MOVES
Lindsay Saunders The Urban Developer
Key transaction & deal analysis
Linkedin: @commercialready Facebook:/commercialready Instagram: @commercial.ready ROOFTOP: Website: rooftop.studio Vimeo:/rooftopstudio Instagram: @rooftopstudio READY MEDIA GROUP: Website: readymedia.com.au EDITOR IN CHIEF Frank Materia IN-HOUSE WRITERS Oliver Gregurek & Dimity Barber ADVERTISING ENQUIRIES frank@readymedia.com.au LISTING ENQUIRIES info@readymedia.com.au EDITORIAL ENQUIRIES editor@readymedia.com.au CONTACT Ready Media Group Head Office
14
ANTI-MONEY LAUNDERING Developers Under Microscope as Property’s New Anti-Money Laundering Regime Clare Burnett The Urban Developer DEVELOPMENT SITES 5 Development Opportunities Backed by Scale, Location and Long-Term Potential Ready Media Group
46
QLD OPPORTUNITIES
55 RETAIL
Billionaire Brett Blundy Reclaims Bras N Things with $700m Retail Deal
16
Harrison Caithness The Urban Developer
56
SA OPPORTUNITIES
19
59 TOURISM
APARTMENTS Bronxx Seeks SSD Uplift for Approved 50-Home Ramsgate Scheme Patrick Lau The Urban Developer
Rare Fijian Beachfront Property Hits Market for First Time The Urban Developer
20 NSW OPPORTUNITIES
60
WA OPPORTUNITIES
Levels 3&4/161 Buckhurst St South Melbourne VIC 3205 Email: info@readymedia.com.au Telephone: (03) 9631 5476 MAGAZINE DESIGN Nespecart ON THE COVER City East Adelaide Listing Alinea Group & Colliers Capital Markets
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4 – August / September 2026
The Interview
THE PROPERTY DEVELOPMENT REVIEW
GUIDO BELGIORNO-NETTIS AM
MANAGING DIRECTOR OF TRANSFIELD HOLDINGS
With Rob Langton - Ready Media Group
LEGACY, ENTERPRISE AND RESPONSIBILITY
Some Australian business families leave their mark on balance sheets. Others leave it on the landscape itself. The Belgiorno-Nettis family belongs firmly in the second category. Through Transfield, the family became associated with some of Australia’s most significant engineering, infrastructure and industrial projects. But the story of Guido Belgiorno-Nettis AM is about more than the company his father helped build. It is a story of migration, ambition, culture, family and the responsibility that comes with inheriting a legacy. In an extended interview with The Interview Australia, hosted by Rob Langton, Belgiorno-Nettis reflects on a family history stretching from post-war Italy to the heart of Australian business and public life. The conversation offers a rare insight into the man behind one of Australia’s best-known business names. At the centre of the story is his father, Franco Belgiorno-Nettis. Arriving in Australia after the Second World War, Franco was part of a generation of migrants who helped shape the nation during its post-war expansion. Together with partners, he established Transfield, which grew from an engineering enterprise into a major Australian industrial group. The company’s story became inseparable from the physical development of modern Australia. Engineering, construction and infrastructure provided the foundations for a business that would contribute to projects far beyond the scale of its beginnings. For Guido, however, growing up within such a prominent family brought its own complexities. A famous surname can open doors, but it can also create expectations. The challenge is not simply to inherit success, but to establish an identity independent of it. That sense of independent thinking is an important theme in Belgiorno-Nettis’s reflections. His story is not simply one of stepping into an existing business empire. Rather, it is one of developing his own interests across investment, business, public life and culture, while remaining conscious of the history attached to his name. Today, as Managing Director of Transfield Holdings, his interests extend beyond business and investment. His involvement in contemporary art and culture has become an important part of his public identity, reflecting a broader family tradition of supporting Australian cultural life. That intersection of business and culture is one of the most compelling aspects of the Belgiorno-Nettis legacy. Wealth can be measured. Companies can be valued. Buildings and infrastructure can be photographed. Cultural contribution,
however, is harder to quantify. It exists in institutions supported, artists encouraged, ideas promoted and communities strengthened. For Belgiorno-Nettis, this is central to the meaning of privilege. The interview explores the idea that having advantages also creates obligations: to participate, contribute and ultimately leave something meaningful behind. It shifts the concept of inheritance away from wealth alone. Inheritance, in this sense, becomes responsibility. That perspective is particularly relevant in an era when Australia’s business landscape is increasingly shaped by family offices, private capital and multigenerational wealth. The question for many successful families is no longer simply how to preserve capital, but what that capital can achieve. The Belgiorno-Nettis story provides one possible answer. Its legacy encompasses engineering and enterprise, but also art, music, civic institutions and public life. It demonstrates how a family business can become part of a much larger national story — one shaped by migration and opportunity, but also by the choices successive generations make with what they inherit. For Guido Belgiorno-Nettis, preserving that history does not mean living in the past. It means understanding where the family came from while deciding independently where to go next. The achievements of previous generations can provide foundations, but they cannot provide a finished identity. Each generation must decide what to build, what to preserve and what to change. From his father’s arrival in Australia and the rise of Transfield to business, art and philanthropy, Guido Belgiorno-Nettis’s journey reflects a distinctly Australian story: migration transformed into enterprise, enterprise transformed into opportunity, and opportunity accompanied by responsibility. Ultimately, his legacy may be measured not by the size of a family fortune or the prominence of a corporate name, but by what survives beyond both. The real inheritance is not simply wealth. It is the obligation to do something worthwhile with it.
SCAN OR CLICK TO WATCH THE VIDEO INTERVIEW IN FULL
August / September 2026 – 5
Tax
WHAT THE PROPERTY TAX OVERHAUL MEANS FOR DEVELOPERS
Prepared By Ready Media Group
The Australian property market is facing its biggest tax shake-up in a generation, with the 2026–27 Federal Budget ushering in sweeping changes. While much of the debate has focused on residential investors, the reforms have major implications for developers. From changes to negative gearing and capital gains tax, to infrastructure investment and planning reforms, here’s what the new policy landscape could mean for investor demand, project feasibility and the pipeline of new housing.
1. NEW HOUSING COULD CAPTURE LARGER SHARE OF INVESTOR DEMAND Developers delivering new stock may benefit from stronger investor interest as changes to negative gearing take effect. From 1 July 2027, investors who buy established residential property after 7:30 pm on 12 May 2026 will no longer be able to use rental losses to reduce their other taxable income, such as salary. Instead, those losses will be carried forward to offset future income from residential property. Eligible new builds will not be subject to the same restriction. The policy is designed to steer investment towards new housing supply rather than established stock. For developers, the changes could strengthen demand for apartments, townhouses and house-and-land projects. 2. CGT CHANGES ADD ANOTHER VARIABLE FOR DEVELOPERS Changes to capital gains tax could also influence investment decisions and project timing. The reforms will change how capital gains are treated, potentially prompting developers, landowners and investors to reassess decisions around acquiring, holding and selling property. For developers, the impact will depend on the nature and timing of individual projects, particularly those involving long development timelines and extended holding periods. The changes could also influence landowners’ decisions about whether to sell, hold or develop sites, with potential implications for the availability of development land. 3. INFRASTRUCTURE FUNDING COULD HELP UNLOCK DEVELOPMENT CORRIDORS The Federal Government is also targeting one of the biggest barriers to new housing: infrastructure. A new $2 billion Local
Infrastructure Fund will help finance the roads, drainage, water, wastewater and electricity connections needed to support new housing. The impact will depend on where funding is allocated and how quickly projects are delivered. But for developers with land in infrastructure-constrained areas, funding decisions could influence project timing and development feasibility. 4. STATE TAXES CONTINUE TO SHAPE DEVELOPMENT FEASIBILITY Federal tax changes may encourage investment in new housing, but state-based taxes will continue to influence development feasibility. In Victoria, for example, the Windfall Gains Tax can add significant costs to land that increases in value following certain government rezoning decisions. For developers and landowners, the tax is another factor to consider when assessing the viability of sites where rezoning is required to unlock development potential. OUTLOOK: REDIRECTION, NOT RETREAT The new tax settings could redirect some investor demand towards new housing, potentially boosting demand for apartments, townhouses and house-and-land projects. But tax is only one part of the development equation. Land and construction costs, planning delays, infrastructure availability and state taxes will continue to determine which projects stack up. Developers who understand how the reforms could affect investor behaviour, land acquisition and project feasibility will be best placed to respond as the market adjusts over the next 12 to 24 months.
6 – August / September 2026
New Zealand Development
THE PROPERTY DEVELOPMENT REVIEW
SCALE, FLEXIBILITY AND PRIME POSITIONING IN PARNELL, AUCKLAND, NEW ZEALAND
Prepared By Ready Media Group
A landholding with genuine scale, potential and Business – Mixed Use zoning in one of Auckland, New Zealand’s most coveted city fringe suburbs is for sale, providing a development opportunity at a time when well- connected, high-density sites are increasingly rare and play a pivotal role in Auckland’s continued growth.
Spanning 2.37 hectares across two integrated titles at 23 and 41 Cheshire Street in Parnell Auckland, and overlooking the picturesque and leafy Auckland Domain, the property represents one of the last development opportunities to secure a landholding of this magnitude in the affluent, established, and tightly-held suburb, on the fringe of the city and with immediate access to train and motorway connections. The vendor has advanced the property through extensive planning and consenting processes. An approved Resource Consent for a substantial retirement village establishes a strong baseline for bulk, height and density, giving purchasers the option to progress the consented scheme, adapt it or pivot to a completely new concept aligned with their vision and market demand. The options are numerous and flexible. The above extensive design and planning work now provides an actionable development-ready platform without requirement for any major demolition work. The now concluded northern, city-end trainline underpass and pedestrian walkway materially enhances access and connection to the site and unlocks its development footprint and potential. The property is for sale via an International Expressions of Interest campaign, closing at 4pm NZST on Tuesday 15th September unless sold prior, through James Were and Ryan Johnson of Bayleys. Bayleys Auckland Metro team director James Were says the offering’s combination of size, zoning flexibility and strategic positioning sets it apart in the current market. “The land is zoned Business – Mixed Use, enabling low, medium or high density outcomes and supporting everything from build- to-rent and premium residential to student accommodation, commercial uses, storage, data storage or a master planned mixed use precinct,” he says. “Unlike typical city fringe redevelopment sites, this is a largely
level land platform, which is a rarity in Parnell given the suburb’s undulating terrain.” “Its proximity to Auckland CBD and motorway networks is also in the site’s favour, and few city fringe development landholdings can claim a direct interface with Auckland Domain. That connection to the city’s landmark green space is a major lifestyle and value driver for future occupants, either residential or commercial.” The configuration of the two lots enhances design efficiency and construction efficacy, with the smaller parcel at 41 Cheshire Street providing a critical third street frontage to support streamlined vehicle circulation and pedestrian movement. Generous frontage to Cheshire Street further strengthens access and circulation, supporting high yield outcomes and efficient master planning. Were highlights the opportunity to leverage proximate, northern city views and western outlooks across to the calming green of the Domain, along with multiple pedestrian access points along the boundary to the Domain, Stanley Street and Carlaw Park underscoring the site’s ease of pedestrian connectivity with the city and University. Currently operating as a commercial car park, the property generates modest holding income under a flexible month by month licence. Were says commercial parking could be incorporated into a future development given the ongoing demand for carparking in fringe CBD locations. As it lies immediately adjacent to the Parnell Train Station, future residential or commercial occupants will be minutes from the CBD, Newmarket, the universities and major employment hubs plus wider connectivity by train or motorway connections. “With intensification policies favouring large, well-connected sites and Parnell’s premium catchment driving demand, the property represents long-term strategic value met by development-ready potential” says Were.
August / September 2026 – 7
8 – August / September 2026
Office - Melbourne
THE PROPERTY DEVELOPMENT REVIEW
BIG SQUEEZE: SUPPLY CRUNCH LOOMS OVER MELBOURNE OFFICE REBOUND
Prepared By Ready Media Group
Melbourne’s CBD office market is showing strong signs of recovery, with a looming shortage of new supply set to tilt the balance of power back towards landlords.
WAIT-AND-SEE MOOD MASKS STRONG FUNDAMENTALS While occupier demand continues to improve, investment activity remains subdued. Only $286 million in Melbourne CBD office transactions has been recorded year-to-date, while prime yields softened by a further 13 basis points during the June quarter to average 7.02 per cent - their highest level since 2013. Dr McGough said economic uncertainty continued to weigh on investor confidence. “Capital markets have seen volatility in the pricing of government bonds and debt given the global uncertainty about both inflation and growth,” he said. “In Victoria, some investors are adopting a wait-and-see approach ahead of the Victorian state election in the second half of 2026, with the potential for policy or tax reform should there be a change in government that may make investing in the state more attractive.” However, Dr McGough said Melbourne remained well placed for long-term investment. “The state remains a strong prospect for medium- to long-term growth from an investment point of view, standing out for its strong population growth, liveability, diversified economy, infrastructure investment and relative affordability,” he said. “We now have the greatest spread between Sydney and Melbourne prime office yields on record.”
Knight Frank’s latest Melbourne CBD Office State of the Market report recorded 83 tenant representation briefs in the June quarter, up from 81 in March - the strongest start to a year since 2022. At the same time, the development pipeline continues to shrink, with no new projects anticipated beyond three developments due for completion by the end of 2026. “Market fundamentals are expected to strengthen over time, moving in favour of the landlord from the tenant,” Knight Frank Partner and Head of Research & Consulting, Victoria, Dr Tony McGough, said. FLIGHT TO QUALITY DRIVES LEASING REBOUND Prime office rents climbed to an average of $773 per square metre during the June quarter, up 5.2 per cent over the past year and 0.8 per cent over the quarter. Dr McGough said the flight-to-quality trend continued to dominate Melbourne’s CBD leasing market. “Occupier activity continues to be strongest in premium and high-quality A-grade assets, particularly those offering strong amenity, modern accommodation and highly accessible locations,” he said. The Eastern Core remains Melbourne’s standout office precinct, reflected in face rental growth of approximately 9 per cent over the past year. “This precinct’s popularity is also evident in its comparatively lower incentive levels, which average around 40 per cent compared with the broader CBD market average of 48 per cent,” he said.
August / September 2026 – 9
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10 – August / September 2026
Artificial Intelligence
THE PROPERTY DEVELOPMENT REVIEW
ARTIFICIAL INTELLIGENCE COULD CUT COMMERCIAL PROPERTY VALUATIONS FROM DAYS TO HOURS
Prepared By Ready Media Group
The faster process is tipped to cut turnaround times from 15 days to as little as five hours in some cases, giving financiers an edge in the fight to win and keep borrowers.
be matched to the complexity and risk of each asset. That could allow straightforward properties with strong data histories to move through a streamlined process. “Where middle markets have uniform property data which can then transfer to information such as consistent rental rates or similar values per square metre, they are more suited to a more data-driven outcome than assets in more complex or unique settings,” he said. “Transparency on information currently has limitations and caution around items such as incentives in leases or capital works undertaken are not always made available.” AI WILL SUPPORT VALUERS, NOT REPLACE THEM While AI can process data and identify patterns far more quickly than traditional methods, Mr Winfield said professional valuers will remain central to the valuation process. Instead of replacing valuers, the technology is expected to reduce time spent collecting and checking information, allowing experts to focus on market interpretation and professional judgement. “It’s not a question about if AI will become part of a valuation process but what is the right mix of talent and infrastructure,” Mr Winfield said. “Valuers will focus more on interpreting the data and less time reproducing the facts, which should, if used with the right balance of AI, produce a more streamlined outcome.” Mr Winfield said AI is only as valuable as the expertise applied to its outputs. “AI is enabling valuers to access information faster and generate efficient, consistent outputs,” he said. “Good data and AI don’t replace the valuer's analysis; it helps to clear the path. The data still has to be interpreted by someone who understands the asset and the market.”
“Obtaining clarity sooner for all parties enables them time to consider how the structure will look, which might include if more capital input is required or where interest cover ratios will sit, which has a direct impact on the cost of debt,” Dale Winfield, Head of Value & Risk Advisory, Australia & New Zealand at JLL, said. “All of these items impact on the commercial return of an investment property and more time to make decisions now can lead to lower risks longer term.” Better Data, Quicker Decisions Improvements in the quality and availability of property data are driving the shift. Lenders already hold large volumes of information on the properties in their loan books, such as tenant histories, cash flows, yields, and market movements. But gaps and inconsistent records can make that data hard to use when a fast valuation call is needed. Mr Winfield said better access to reliable property information allowed valuers to spend less time gathering facts and more time applying professional expertise. “Factual information which is obtained faster enables valuers to focus on the parts of a process which add more value to the client,” he said. “Focusing time on market evidence and extrapolating this evidence to draw a conclusion on value is a core part of the valuation process.” MIDDLE-MARKET PROPERTIES THE TESTING GROUND According to Mr Winfield, the biggest opportunity lies in middle- market office, retail and industrial assets valued below $20 million, which make up a large share of commercial lending portfolios. Rather than applying the same valuation process to every property, lenders are exploring whether different levels of assessment can
August / September 2026 – 11
MARKET MOVES VIC DESCRIPTION
VENDOR/ PURCHASER AGENCY
SALE $
The industrial warehouse at 18 Fooley Court, Derrimut has sold for $52.5 million, with ESR Real Estate Investment Trust (ESR-REIT) acquiring the asset as part of its continued expansion across Melbourne's industrial market. The property comprises a 22,308sqm warehouse on a 3.5-hectare site, approximately 18 kilometres west of Melbourne's CBD. Fully leased to CEVA Logistics until 2031, the asset provides secure long-term income and reflects continued institutional demand for large-scale logistics facilities in Melbourne's tightly held western industrial corridor. The approved aged care development site at 110 Albion Road, Box Hill has sold off-market for $9.5 million to Estia Health, paving the way for a new residential aged care facility in Melbourne's east. The 5,047sqm corner site is approved for a 100-bed residential aged care home. The off-market transaction highlights strong demand for shovel-ready healthcare development opportunities. 71 Premier Drive, Campbellfield has sold for $7 million, highlighting continued demand from owner- occupiers for established industrial assets across Melbourne's tightly held northern industrial market. The 2,600sqm office and warehouse facility, on a 3,720sqm site, was acquired by a local business in the building products sector following a private sale campaign, reflecting a building rate of $2,692 per square metre. The property transacted within four weeks of launch. 81 Queen Street, Warragul has sold for $6.5 million, highlighting continued investor appetite for high-quality regional commercial investments backed by diversified income streams. The 1,831sqm mixed-use asset comprises a fully leased former hotel converted into retail and office accommodation, generating net income of $487,033 per annum. Acquired by a Tasmania-based private investor. Factory 3, 5–7 Maria Street, Laverton North has sold for $4.62 million following a competitive Expressions of Interest campaign that attracted more than 40 enquiries and six offers, highlighting continued investor demand for securely leased industrial assets. The 1,025sqm facility, on a 6,843sqm site with exceptionally low 15% site coverage, is leased to ASX-listed Cleanaway, generating a net passing income of $237,853 per annum. The property was purchased by an interstate investor. The landmark commercial freehold at 123–127 Maroondah Highway, Ringwood has been sold to a Melbourne-based hospitality group following a competitive Expressions of Interest campaign. The three-level, 1,525sqm purpose-built commercial building features indoor and outdoor entertainment areas, a lift and beer garden. Located opposite the Eastland Shopping Centre precinct. A well-known retail warehouse project close to the ETA factory in Melbourne's inner-west has sold to one buyer after being advertised separately. The six residences at the intersection of Ballarat Road and Lacy Street, Braybrook sold for $8 million, or $4,520 per square metre (land rate $1,976). The former warehouse at 3 Bedford Street, Collingwood sold for $2.26 million to owner-occupier Synq Projects following a competitive Expressions of Interest campaign that generated more than 64 enquiries. The transaction achieved a land rate of $14,027/sqm and a building rate of $7,018/sqm. A Melbourne CBD corner property occupied by a popular hospitality operator has sold, reflecting buyers' continued confidence in the city and the ongoing shift from residential to commercial property. The strata-titled asset was sold on behalf of a local vendor after a campaign generating 72 enquiries, with a local SMSF investor winning out at a building rate of $10,000/sqm and a 5.3% yield. The large format retail centre at 98–100 Hampstead Road, Maidstone has sold for $32 million to a private investor, highlighting continued demand for securely leased retail investments across Melbourne's inner west. The 8,072sqm multi-tenanted centre, on a 19,020sqm corner site ~8km from the Melbourne CBD, is anchored by Supercheap Auto and 99 Bikes, generating $1.437 million net annual income on a 4.49% initial yield. The multi-tenanted industrial investment at 93 Cheltenham Road, Dandenong has sold for $7 million to a private investor following a competitive Expressions of Interest campaign. The 3,069sqm multi-tenanted property sold on a 5.15% passing yield with a 1.5-year WALE.
V: Frasers Property P: ESR Real Estate Investment Trust (ESR-REIT)
18 Fooley Court, Derrimut
$52.5 million
Undisclosed
CBRE Australian Healthcare & Social Infrastructure's Sandro Peluso, Marcello Caspani-Muto, Jimmy Tat and Kai Wang
110 Albion Road, Box Hill
$9.5 million
P: Estia Health
P: Local Owner-Occupier (building products sector)
71 Premier Drive, Campbellfield
Colliers' Mitch Purcell, Corey Vraca and Brad Crouch
$7 million
CBRE's David Napoleone, Rachael Fabbro and Matthew Wright, together with Brendan Wetherall of Wetherall's Signature Realty
81 Queen Street, Warragul
P: Tasmania-based Private Investor
$6.5 million
Factory 3, 5–7 Maria Street, Laverton North
Knight Frank's Steve Jones and Andrew Gallucci
$4.62 million
P: Interstate Investor
HTL Property's Scott Callow and Daniel Ryan, together with Ted Dwyer of Ray White Commercial
123–127 Maroondah Highway, Ringwood
P: Melbourne-based Hospitality Group
Undisclosed
Ballarat Road & Lacy Street, Braybrook
$8 million
V: Private Investor
Undisclosed
3 Bedford Street, Collingwood
P: Synq Projects (rep. by Jeff Ha of Societe Group)
Colliers' Eddie Foulkes and Alex Browne
$2.26 million
302 Flinders Lane, Melbourne CBD
V: Local Vendor P: Local SMSF Investor
Fitzroys' Lewis Waddell, David Bourke and Ben Liu
Undisclosed
98–100 Hampstead Road, Maidstone
Ray White Retail's Rick Silberman
$32 million
P: Private Investor
93 Cheltenham Road, Dandenong
$7 million
P: Private Investor
CBRE
NSW DESCRIPTION
VENDOR/ PURCHASER AGENCY
SALE $
CBRE's Mathew Alessi and John Micallef, in conjunction with Luke Belotti and Mathew Neale of Macquarie Commercial
Thirteen industrial lots at Nepean Business Park in Penrith have been purchased by developers and owner-occupiers, underscoring the increasing competitiveness for serviced commercial land in Western Sydney .The sites ranged in size from 2,070 to 9,885 square metres, totalling 53,368 square metres.
Nepean Business Park, Penrith
P: Developers and Owner-Occupiers
$64 million
The $4 million sale of an off-market industrial property at 19-21 Leighton Place, Hornsby, set a record industrial land rate for the suburb of $2,152 per square metre, demonstrating ongoing demand for owner-occupier properties around Sydney's North Shore.
19–21 Leighton Place, Hornsby
$4 million
P: Owner-Occupier
Colliers' John Carney
12 – August / September 2026
THE PROPERTY DEVELOPMENT REVIEW
VENDOR/ PURCHASER AGENCY
NSW con't DESCRIPTION
SALE $
A developer has acquired five industrial lots in Smithfield for $12.5 million after a competitive Expressions of Interest campaign, reinforcing the area's position as one of Sydney's most sought-after industrial precincts. The properties total 6,070sqm and offer connectivity to the M4 and M7 Motorways and key freight infrastructure. The VIVA Energy (OTR) service station and convenience retail asset at 306 Wianamatta Parkway, Ropes Crossing has sold for $12.06 million, reflecting continued investor demand for long-dated convenience retail across Sydney's western growth corridor. The brand-new asset features a 24/7 drive-thru and car wash, secured by a 16-year triple net lease to 2041 (options to 2076), generating ~$687,805 p.a. net income on a 5.70% yield. The Great Southern Hotel in Berry has sold to a group of local and Sydney-based hospitality investors, reflecting continued confidence in one of NSW's leading regional tourism destinations. The historic pub, dating to the early 1900s, was acquired by an ownership group led by local resident Steve Redman, alongside hotel operators Scott Still and Matt Clifton.
27, 29, 1F, 1D & 1E Britton Street, Smithfield
CBRE's Janet Joljian and Nicholas Kennedy
$12.5 million
P: Developer
306 Wianamatta Parkway, Ropes Crossing
CBRE's Rick Jacobson, Raoul Holderhead, Sam Mercuri and Yosh Mendis
$12.06 million
V: Peregrine Corporation
Great Southern Hotel, Berry
P: Steve Redman, Scott Still and Matt Clifton
$11.15 million
Not disclosed
QLD Madison Tower Mill Hotel, Spring Hill
VENDOR/ PURCHASER AGENCY
DESCRIPTION
SALE $
The Madison Tower Mill Hotel has sold on behalf of Madison Hotel Group. The Kim family's Samdoo Corporation, an experienced Brisbane hotel operator, ultimately purchased the 70-key hotel for a reported $28.6 million. The Port of Airlie, a generational coastal infrastructure asset including a marina and cruise terminal, was acquired on behalf of Sentinel Property by Glenn Piper's Epochal Hotels. Completed in 2014, it consists of an 8,119sqm seabed lease with ~310m of pontoon infrastructure and a 1,400sqm freehold terminal building. This modern daycare facility in Brisbane's north-west growth precinct is leased to Guardian Childcare & Education. The 131-place centre sits on a 2,500sqm* corner landholding, 8km from the Brisbane CBD, with 24 on-site car parks.
V: Madison Hotel Group P: Samdoo Corporation (Kim family) V: Sentinel Property P: Epochal Hotels (Glenn Piper)
HTL Property's Andrew Jackson, Nic Simarro and Glenn Price
$28.6 million
JLL's Jacob Swan, Christian Tsalikis and Liam Cox, in conjunction with Neville Smith and Craig Chapman of CBRE
24 The Cove Road, Airlie Beach (Port of Airlie)
$20.75 million
30 Chinook Street, Everton Hills
$7.35 million
P: Private Investor
CBRE's Josh Scapolan
4–6 Strathaird Road & 85–87 Ashmore Road, Bundall
The 6,072sqm property, held by the same family for over 50 years, sold to Brisbane developer Boldstone after the campaign generated over 229 local and national enquiries.
RWC Pacific Group's Jackson Rameau
$13.6 million
P: Boldstone
259 Ash Street, Flinders View (Winston Glades Shopping Centre)
The neighbourhood shopping centre at 259 Ash Street, Springfield has sold for $24 million, highlighting continued investor demand for convenience-based retail in high-growth catchments. The 5,123sqm centre, on a 2.59-hectare site, was acquired by Hinds View Collective. 99% occupied and anchored by Drakes Supermarket, it generates ~$1.8 million p.a. on a 7.7% passing yield. Engineering House at 447 Upper Edward Street, Spring Hill sold following a competitive Expressions of Interest campaign that attracted 32 enquiries before a cash unconditional offer was accepted. The 1,195sqm four-level office building (4.5-Star NABERS Energy) was acquired by BI3 Property Pty Ltd, achieving a building rate of $8,577/sqm. Belrowes Place, a thriving convenience centre at 45–49 Bundock Street, Belgian Gardens, has sold for $5.3 million following strong investor demand. The corner property comprises 1,573sqm of net lettable area across two levels on a 3,035sqm site with 54 car parks, generating more than $385,000 in annual net income from 14 tenants.
JLL's Jacob Swan, Ned McKendry and Liam Cox
$24 million
P: Hinds View Collective
447 Upper Edward Street, Spring Hill
Colliers' Hunter Higgins and Luke Hawkins
$10.25 million
P: BI3 Property Pty Ltd
45–49 Bundock Street, Belgian Gardens (Townsville)
P: PCMN Property Holdings Pty Ltd
Knight Frank's Mark Fitzgerald and Dan Place
$5.3 million
SA
VENDOR/ PURCHASER AGENCY
DESCRIPTION
SALE $
A spectacular South Australian coastline site has sold for more than $45 million to national developer Urbex (the property development company of the BMD Group), which is expected to transform the 11.99ha Hallett Cove site into a new masterplanned community. The industrial asset at 5 Talisman Avenue, Edwardstown has sold off-market for $21.5 million, highlighting continued investor demand for securely leased industrial property in Adelaide's tightly held inner metropolitan market. The 9,856sqm facility on a 15,670sqm island site is fully leased to SAPOL, generating ~$1.02 million p.a. net income, with rent ~35% below market offering future reversion. The residential development sites at 24–46 Boucaut Avenue and 67–75 Windsor Grove, Klemzig have sold for $15.55 million to a local developer, highlighting continued demand for large-scale infill opportunities in Adelaide's inner north-east. The combined 14,591sqm landholding reflects a land rate of $1,066/sqm, with 393m+ of frontage across three streets, adjoining Linear Park and Windsor Grove Playground. The investment property at 80–94 Goodwood Road, Goodwood has sold off-market for $7.175 million, highlighting continued investor demand for large-scale, income-producing assets in Adelaide's tightly held inner-south. The 2,623sqm landholding features a service station/ convenience retail asset (completed 2023), leased to BP, sold on a 5.17% yield. The retail property at 55 Gawler Place, Adelaide has sold for $5 million to a private interstate investor, highlighting continued demand for securely leased retail investments in the Adelaide CBD. The 509sqm ground-floor property is fully leased to Daiso until March 2031 (plus a five-year option), and sold on an initial yield of ~6%.
Lot 4102 Burlington Road, Hallett Cove
V: Local Owner P: Urbex (BMD Group)
McGees Property's James Juers and Simon Lambert
$45 million
5 Talisman Avenue, Edwardstown
V: MA Financial P: Curated Capital
Knight Frank's Max Frohlich and Ryan Mills
$21.5 million
24–46 Boucaut Avenue & 67–75 Windsor Grove, Klemzig
JLL's Jack O'Leary and Tom Love, with MRS Property acting as transaction managers
$15.55 million
P: Local Developer
80–94 Goodwood Road, Goodwood
$7.175 million
P: Investor
CBRE's Rhyce Scott
Belle Property Commercial Adelaide's Lyndon Cocks and David Buenfeld, together with Chet Al and Harrison Grice of Knight Frank
55 Gawler Place, Adelaide
P: Private Interstate Investor
$5 million
August / September 2026 – 13
Development Sites
5 DEVELOPMENT OPPORTUNITIES BACKED BY SCALE, LOCATION AND LONG-TERM POTENTIAL
Prepared by Ready Media Group
As demand for well-located development sites continues to strengthen, opportunities that combine strategic positioning, planning flexibility and long-term growth potential remain highly sought after. This week's selection showcases five development sites across Australia, each offering developers exposure to major growth corridors, established metropolitan markets and transformational precincts.
11 Walker Street, Braeside, VIC, 3195
Brought to market by CBRE's Patrick Noone, Fraser Pearce, and Alex Grima. Situated in the heart of Braeside’s established industrial precinct, this property is suited to a broad range of occupiers seeking functional improvements, hardstand and room for future growth. The site benefits from connectivity to Melbourne’s major arterial road network, which includes the Mordialloc Freeway, Dingley Bypass, Eastlink (M3) and Monash Freeway (M1) – connecting the site to metropolitan Melbourne and beyond.
14 – August / September 2026
Warehousing & Data
THE PROPERTY DEVELOPMENT REVIEW
Lots 100 & 101 Wheelwrights Road, Riddells Creek, VIC 3431
Brought to market by Facey's Graham "Josh" Kendall, and Matt Rice.
63-77 Beecroft Road and 58b-72 Rawson Street, Epping, NSW 2121 Brought to market by CBRE's Ben Wicks and Alex Mirzaian. CBRE is pleased to present 63-77 Beecroft Road and 58b-72 Rawson Street, Epping NSW. This is a rare opportunity to secure a mixed-use development site in Sydney’s Northern Suburbs. Epping is set to be transformed under Epping Town Centre Master Plan 2025 to revitalise the area into a vibrant, connected, and community-focused place. Located directly opposite to Epping Station and Interchange, the property offers outstanding connectivity with direct rail services to Sydney CBD, and the wider train and Metro network. Strategically located within the heart of the township, allowing easy access to the Retail Precinct including the Suburban Rated Riddells Creek Railway Station. The site has substantial frontage to Wheelwrights Road of approximately 321.86 metres then gently slopes to the picturesque Creek. Services apart from gas are in the near vicinity. There is a recently completed subdivision abutting the site showcasing several modern housing constructions. This first-class residential enclave enhances and installs confidence for the future of Lots 100 and 101. Bridge & East Street, Fortitude Valley, QLD, 4006 Brought to market by Chesters' Tim Jones and Vaughn Smart. Chesters Real Estate is pleased to exclusively present to market, ‘Bridge & East’, Fortitude Valley, 3,283sqm* MU1 zoned site with three street frontages, 200m* to thriving James Street retail & lifestyle amenity. Located within the Fortitude Valley Sustainable Growth Precinct encouraging increased density, 4,306sqm* NLA across high end retail showroom, offices & food/beverage tenancy with hotel licence in place.
Edgars Grove, 61 Eaststone Avenue, Wollert, VIC, 3750 Brought to market by RPM's Luke Kelly and Joe Catanese.
'Edgars Grove' at 61 Eaststone Avenue, Wollert, a landmark opportunity offering flexibility for a medium-density residential or mixed-use development, with potential for 110+ town homes (STCA). Spanning 3.22 hectares (approx.) within the Aurora master planned community in Wollert, adjoining the Epping precinct, the site represents a prime infill opportunity in Melbourne's fast- growing northern corridor. The site enjoys approximately 300m of frontage to the Edgars Creek parklands, combining established amenity with a rare balance of urban convenience and open space.
August / September 2026 – 15
Anti-Money Laundering
DEVELOPERS UNDER MICROSCOPE AS PROPERTY’S NEW ANTI-MONEY LAUNDERING REGIME
Author: Clare Burnett
The Urban Developer
After a decade of delay, Australia has closed the loophole in its anti-money laundering rules that left real estate exempt, despite it being one of the country's biggest channels for concealing illicit funds.
developers need to be compliant under the new regulations. Holding Redlich special counsel David Chambers says that the immediate priority for the property sector is compliance with the reforms. Reporting entities that provide a designated service must enrol with AUSTRAC within 28 days of first providing that service.
Anti-money laundering regulator the Australian Transaction Reports and Analysis Centre (AUSTRAC) estimated that in 2020, Chinese interests alone laundered more than $1 billion through Australian real estate. In a 2022 inquiry, the Australian Federal Police revealed that of the $187 million in assets it seized in the 2021 financial year, $116 million was real estate. As a result of these high-profile pushes against money laundering in property, AUSTRAC introduced major changes in July bringing the property sector in line with Tranche 1 entities such as banks, gambling providers and other financial institutions, all of which have been under the regime since 2006. But a little more than a week after the regime change’s first obligatory deadline by which developers needed to enrol with AUSTRAC and start implementing new systems and controls, the industry is still getting its head around the changes. Money-laundering rule changes for developers Under the Anti-Money Laundering and Counter-Terrorism Financing Amendment Act, initially passed in 2024 and dubbed AML/CTF, developers are now considered Tranche 2 entities. Specific activities including brokering the sale, purchase or transfer of a real estate deal or directly selling real estate without the involvement of a real estate agent are two of the major activities or “designated services” with which
Significant penalties can be imposed by way of AUSTRAC infringement notices of Federal Court penalty orders, Chambers says. “Reporting entities should already have undertaken a risk assessment, implemented a written AML/CTF program, established appropriate governance arrangements, allocated AML/CTF responsibilities, delivered staff Holding Redlich special counsel David Chambers: Significant penalties can be imposed.
16 – August / September 2026
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