Welcome to Issue 72 of The Property Development Review, exclusively for agents, developers and investors.
MAY / JUNE 2026 - ISSUE NUMBER 72
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.
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N tion l
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2 – May /June 2026
WELCOME
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 opportunities from key growth corridors and major capital city markets across Australia, connecting active developers and investors with projects ready to progress. Together, these stories reflect a market where access to the right sites, informed analysis and disciplined strategy will define the next phase of growth. Enjoy the read. This edition of The Property Development Review arrives as the 2026 Federal Budget signals a renewed focus on housing delivery, enabling infrastructure and workforce capacity - themes that will have far-reaching implications for both residential and commercial development markets in the years ahead. Vanessa Rader, Ray White Group Head of Research, examines the key property implications emerging from this Budget, including major commitments to housing-enabling infrastructure, construction workforce development and transport investment. As governments increasingly focus on unlocking supply rather than stimulating demand, these policy settings are expected to influence development feasibility, growth corridors and investment activity across the country. Also leading this issue is a feature interview with Kerr Neilson of Argyle Family Office. In conversation with Rob Langton, Neilson shares insights on patience, contrarian thinking and disciplined investment - principles increasingly relevant as developers and investors navigate a more measured market. Across the issue, we explore the increasing competition for development-ready sites across Melbourne and Sydney, the growing influence of transport infrastructure on land values, and the continued expansion of data centres as a key driver of industrial land demand. As always, this edition features development
CONTENTS
04 2026 FEDERAL BUDGET Vanessa Rader Ray White Group Head of Research
06 THE INTERVIEW Kerr Neilson Argyle Family Office
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08 MIXED ZONED DEVELOPMENT How to Find Suburban Mixed Zoned Development Propert in Australia Ready Media Group
APARTMENTS-QUEENSLAND Fortis’s Fourth Brisbane Project Approved at New Farm Phil Bartsch The Urban Developer HOTELS-QUEENSLAND Calile Noosa Hotel Build Moves in-House Vanessa Croll The Urban Developer
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DEVELOPMENT SITES 5 Development Sites Positioned in Australia’s Expanding Urban Corridors Ready Media Group
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QLD OPPORTUNITIES
12 INDUSTRIAL DEVELOPMENT SITES 5 Industrial Development Sites Driving Australia’s Employment Corridors Ready Media Group
91 HOTEL & HOSPITALITY-SA Intercontinental Resort
Greenlit for SA’s Barossa Wine Region Chris Thomson The Urban Developer
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MARKET MOVES Key transaction & deal analysis
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Linkedin: @commercialready Facebook:/commercialready Instagram: @commercial.ready ROOFTOP: Instagram: @rooftopstudio READY MEDIA GROUP: Website: readymedia.com.au EDITOR IN CHIEF Frank Materia IN-HOUSE WRITERS Oliver Gregurek & Dimity Barber Website: rooftop.studio Vimeo:/rooftopstudio ADVERTISING ENQUIRIES frank@readymedia.com.au LISTING ENQUIRIES info@readymedia.com.au EDITORIAL ENQUIRIES editor@readymedia.com.au CONTACT Ready Media Group Head Office
SA OPPORTUNITIES
18 CONSTRUCTION-NSW
96 WESTERN AUSTRALIA-TRANSACTIONS From Ocean Waste to Housing Fix: Hyperion’s 3D Printing Pivot Taryn Paris The Urban Developer
NSW Building Bill Targets Prefab Homes, Approvals and Certifiers Leon Della Bosca The Urban Developer
36 RESIDENTIAL BUILD COSTS-VIC Price Check: Costs Ease, But Pressure Points Build in Residential Land Market Ready Media Group 20 NSW OPPORTUNITIES
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WA OPPORTUNITIES
106 TAS OPPORTUNITIES 107 ACT OPPORTUNITIES
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OFFICE -VIC Catholic Church Brings East Melbourne
Offices to Market Lindsay Saunders The Urban Developer
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 Image of 161 Buckhurst St South Melbourne, generated by Rooftop Studio using the Aigent Enhance & Stage tool.
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VIC OPPORTUNITIES
May / June 2026 – 3
Mixed Zoned Development
Prepared By Vanessa Rader Ray White Group Head of Research
The 2026 Federal Budget takes a more deliberate aim at the supply-side constraints that have held back housing delivery across Australia than previous budgets have managed. For both residential and commercial property markets, the measures announced signal a shift in thinking, from stimulating demand to removing the physical and workforce barriers that stop projects from proceeding in the first place.
basic connections to essential services. The Australian Local Government Association, which has advocated for this type of funding since its 2024 housing report identified a major shortfall in enabling infrastructure needed to support 1.2 million new homes, welcomed the commitment as a significant step forward. Councils have long argued that communities cannot continue absorbing the cost of growth infrastructure without federal support, and this Budget acknowledges that directly. For residential developers, serviced land is the prerequisite for everything else. For the commercial property market, the flow-on effects are equally real. Residential growth corridors supported by enabling infrastructure generate demand for neighbourhood retail, medical facilities, childcare, and industrial logistics assets serving new communities. The $500 million regional allocation is particularly relevant in areas where population decentralisation is driving housing demand beyond the major capitals, and where the gap between approved development and serviceable land has been most acute. THE WORKFORCE PIPELINE The Budget also addresses the construction workforce, and this matters as much for residential delivery
ENABLING INFRASTRUCTURE: THE RIGHT PROBLEM TO SOLVE
The strongest measure in this Budget for property is the $2 billion Local Infrastructure Fund, providing funding via states and territories to local governments and state utility providers for housing-enabling infrastructure, including local roads, water connections, power, sewerage and drainage. Up to 65,000 homes are expected to be unlocked over a decade, bringing the government's total investment in housing enabling infrastructure to $6.3 billion since coming to office. Critically, the funding is contingent on states committing to productivity reforms in the housing sector, including faster and simpler approvals, releasing more land ready for construction, and delivering a simpler National Construction Code. The government estimates these regulatory reforms could support tens of thousands of additional homes and deliver up to $3 billion per year in regulatory savings. This is a better-targeted housing measure than demand- side assistance because it goes directly to the physical barriers that stop residential projects from proceeding. Homes cannot be built if the land is not serviced. Developers can have approvals, finance, and willing buyers, and still find a project unviable if the site lacks
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transmission, have grown by $20 billion year on year to $36 billion. The 2026 Infrastructure Priority List identifies several investment-ready transport projects with direct property implications. The Melbourne Suburban Rail Loop East, connecting Cheltenham to Box Hill, will stimulate residential densification and commercial development along Melbourne's southeastern corridor, an area historically underserved by high-capacity transit. The Sunshine Coast's Wave mass transit proposal linking Beerwah to Birtinya reinforces South East Queensland's position as one of Australia's strongest residential growth markets ahead of the Brisbane 2032 Olympics. High-speed rail between Newcastle and Sydney, identified for planning investment, would fundamentally reshape residential property markets in the Hunter and Central Coast by bringing them within practical commuting range of Sydney. In freight and logistics, the Northern Territory's Darwin-Tarcoola rail hub ($440 million in committed equity) and Perth's Westport container port transition at Kwinana continue to advance, supporting sustained demand for industrial and warehousing assets along improved freight corridors. MATERIALS COSTS: STABILISED BUT EXPOSED Materials cost escalations have moderated from the peaks of 2022 and 2023, providing some relief to residential and commercial developers who have been absorbing significant cost increases over recent years. Budget Paper No. 1 explicitly identifies the ongoing conflict in the Middle East as a material economic risk, noting it has disrupted global oil supplies, created extreme energy price volatility, and affected supply chains for critical goods. Any further escalation would feed directly into construction cost profiles at a time when domestic demand is at historically high levels. The government's commitment to the transformation of the Whyalla Steelworks reflects broader recognition that sovereign manufacturing capability in steel, a critical construction input, requires active support rather than being left entirely to global supply chains. THE BOTTOM LINE This Budget addresses more of the right constraints simultaneously than previous budgets have. The enabling infrastructure commitment targets a problem that has been underinvested for years, the workforce measures begin to address the trades pipeline, and the broader infrastructure program continues to create the transport and logistics corridors that unlock residential and commercial development over the medium term. Whether the cumulative effect comes together quickly enough to meaningfully shift housing supply and affordability remains the central question for both residential and commercial property markets in the years ahead
as it does for commercial and infrastructure projects. The government's housing construction apprenticeship stream is providing $10,000 incentive payments to eligible apprentices, with support also available for employers. More than 17,000 housing construction apprentices were reportedly benefiting from the program by the end of February 2026, with carpentry, plumbing and electrical trades the largest categories. Measures to improve recognition of migrant skills and accelerate project approvals are also included, aimed at reducing delays specifically for residential construction trades and housing projects. These measures point in the right direction. Labour shortages, slow approvals and infrastructure gaps are all part of the same problem: Australia is not just short of housing, it is short of housing delivery capacity. The distinction matters. Additional demand-side support without supply-side capacity simply pushes prices higher without adding stock. A budget that addresses the physical infrastructure deficit and the workforce pipeline simultaneously is more coherent than one that does only one or the other. The scale however needs honest perspective. Infrastructure Australia's 2025 Infrastructure Market Capacity report projects a peak workforce shortage of 300,000 workers by 2027, after a brief easing in 2024. Regional areas face the sharpest exposure, with shortages forecast to quadruple between 2025 and 2027. New apprentices take years to become fully productive tradespeople. The construction industry is simultaneously being asked to deliver housing, renewable energy infrastructure, major transport projects and the new enabling infrastructure program, all drawing on the same workforce. Residential builders, who have historically struggled to compete with wages offered by major public infrastructure projects, remain particularly exposed to that competition. Unlocking 65,000 homes over ten years is useful. Australia's national target is 1.2 million new homes over five years. Apprenticeship incentives are welcome, but new apprentices take years to qualify. Faster approvals help, but only if projects are financially viable and supported by infrastructure, labour and finance at the same time. This Budget addresses more of those constraints simultaneously than previous budgets have, and the supply-side focus is the right instinct. THE BROADER INFRASTRUCTURE PIPELINE AND PROPERTY IMPLICATIONS Beyond housing, the Major Public Infrastructure Pipeline is currently valued at $242 billion over the five years to 2028- 29, a 14 per cent increase on the previous year's outlook. Transport remains the largest category at $129 billion, while buildings driven by social housing and health projects have risen to $77 billion. Public utilities, largely electricity
May /June 2026 – 5
The Interview
KERR NEILSON
ARGYLE FAMILY OFFICE
With Rob Langton - Ready Media Group
THE CONTRARIAN AN INTERVIEW PROFILE OF KERR NEILSON
There are investors who follow markets, and there are investors who spend their lives questioning them. Kerr Neilson belongs firmly in the second category. Across more than five decades, Neilson built a reputation not simply as one of Australia’s most successful investors, but as one of its most intellectually independent. Calm, sceptical, deeply analytical and often deliberately out of step with prevailing sentiment, he forged a career defined by conviction rather than consensus. The self-made billionaire and co-founder of Platinum Asset Management helped transform the culture of investing in Australia, encouraging generations of investors to think globally, think patiently, and most importantly, think differently. Now through Argyle Family Office, Neilson continues to apply the same philosophy that shaped his extraordinary career: markets are emotional, cycles repeat endlessly, and true opportunity is usually found where others are unwilling to look. Born in Johannesburg in 1949, Neilson’s fascination with markets began early. At just 13 years old, he bought his first shares - an experience he would later describe as driven partly by curiosity and partly by “total ignorance.” But what began as youthful experimentation evolved into a lifelong obsession with understanding how businesses, economies, and human psychology interact.
After studying commerce at the University of Cape Town, Neilson moved to London in the 1970s, entering the investment world during one of the most turbulent economic periods in modern history. Inflation shocks, political instability and violent market swings became his classroom. Those years shaped him profoundly. Where others saw uncertainty, Neilson saw education. Markets taught him early that fear distorts judgement, that crowds can become dangerously euphoric, and that the greatest opportunities often emerge when confidence disappears. By the time he arrived in Australia in 1983, Neilson already possessed the traits that would define his career: intellectual independence, emotional restraint, and a willingness to be uncomfortable when necessary. A decade later, he co-founded Platinum Asset Management - a firm that challenged conventional Australian investing orthodoxy. At a time when many local investors remained heavily domestically focused, Platinum embraced international equities, deep research, and contrarian positioning. Neilson’s philosophy was deceptively simple: price and value are rarely the same thing. He consistently searched for companies, sectors, and countries that had fallen out of favour but
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retained strong long-term potential. While others chased momentum, Platinum looked for neglect. While markets gravitated toward certainty, Neilson leaned into discomfort. That philosophy proved especially powerful during periods of market excess. During the dot-com boom, when technology valuations reached extreme levels, Neilson avoided the speculative frenzy. Instead, he rotated capital toward what he called the “old world” - unfashionable businesses trading at rational prices. Years later, he reflected that debt, excessive IPO activity and declarations that “this time is different” are often the clearest warning signs of speculative bubbles. It was never about predicting markets perfectly. It was about discipline. Again and again, Neilson returned to the same core principle: controlling emotion matters more than intelligence. He has often argued that investors fail not because they lack information, but because they struggle psychologically. Fear, greed, extrapolation and crowd behaviour repeatedly overwhelm rational decision- making. The ability to remain calm while others panic — or to remain sceptical while others celebrate - became one of his defining advantages. “You have to respect the crowds,” Neilson once observed, “but you have to veer away from them from time to time and that takes a lot of discipline.” That discipline helped establish Platinum as one of Australia’s most respected investment houses and elevated Neilson into rare territory globally. Over decades, he built a reputation not only for strong performance, but for intellectual honesty and thoughtful judgement. Yet despite enormous success, Neilson has consistently resisted the mythology that often surrounds elite investors. In interviews, he speaks more about mistakes than triumphs. Asked about his proudest moment as a fund manager, he dismissed the idea almost entirely, saying energy should be spent improving rather than celebrating achievement.
That humility reflects a deeper philosophy underpinning both his investing and leadership style: learning never stops. Neilson has frequently emphasised the importance of remaining open to criticism, adapting to change, and questioning one’s own assumptions. In his view, markets punish certainty and reward curiosity. Even after stepping back from day-to-day portfolio management at Platinum, his fascination with markets has never disappeared. Through Argyle Family Office, he continues to invest, study businesses, mentor younger investors, and explore structural shifts shaping the global economy. And while his career has generated immense wealth, Neilson’s broader legacy extends well beyond finance. Together with his former wife Judith Neilson, he played a major role in supporting the arts and philanthropy in Australia. Their contributions through the Neilson Foundation and the creation of the White Rabbit Gallery helped establish one of the world’s most significant collections of contemporary Chinese art. But perhaps Kerr Neilson’s greatest contribution is philosophical. At a time when markets increasingly reward speed, noise, and short-term reaction, his career stands as a reminder that patience still matters. That independent thinking still matters. That temperament matters most of all. His story is not simply one of wealth creation. It is a masterclass in rationality under pressure — and in the enduring value of seeing the world differently. For more on Kerr Neilson and the interview series, visit Development Ready Content Hub
SCAN OR CLICK TO WATCH THE VIDEO INTERVIEW IN FULL
May /June 2026 – 7
Mixed Zoned Development
HOW TO FIND SUBURBAN MIXED ZONED DEVELOPMENT PROPERTY IN AUSTRALIA
Prepared By Ready Media Group
INTRODUCTION Suburban mixed-zoned development sites are increasingly important in Australian property markets as demand shifts toward integrated living environments outside traditional inner-city cores. These sites typically allow a combination of residential and commercial uses, often in the form of shop-top housing, neighbourhood centres or mixed-use developments positioned along transport corridors and main streets. For developers, investors and buyer’s agents, the opportunity lies in identifying sites where planning controls support intensification while still aligning with local demand and infrastructure capacity. This requires a structured approach that combines planning analysis, market awareness and rapid feasibility testing. WHY SUBURBAN MIXED-USE OPPORTUNITIES MATTER Suburban mixed-use development responds to both policy direction and market demand. Councils are encouraging higher-density development in areas close to transport and existing amenity, while buyers and tenants increasingly prefer locations that offer convenience and accessibility. From a commercial perspective, mixed-use projects can provide diversified income streams, combining residential sales or rental income with retail or commercial leasing. This diversification can improve resilience, particularly in
suburban markets where demand drivers vary across asset types. However, these projects also introduce complexity. Infrastructure constraints, community concerns and higher soft costs related to planning and technical studies need to be factored into feasibility from the outset. IDENTIFYING VIABLE SUBURBAN LOCATIONS The first step in sourcing mixed-zoned sites is selecting the right suburbs and corridors. Areas with strong population growth, planned infrastructure upgrades and established or emerging high streets tend to offer the most potential. Transport accessibility is a key factor. Sites located within walking distance of train stations or major bus corridors are more likely to support higher density and achieve stronger sales or leasing outcomes. Proximity to retail, education and employment nodes further enhances demand. Understanding local demographics also plays a role. Suburbs with growing populations and evolving housing needs often present stronger opportunities for mixed-use development, particularly where existing infrastructure can support additional density. USING PLANNING SYSTEMS TO IDENTIFY OPPORTUNITIES Planning portals and council mapping systems are the most reliable tools for identifying mixed-zoned land. These
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platforms allow developers to review zoning classifications, height limits, floor space ratios and overlays that affect development potential. Common zoning categories that support mixed-use development include local centre, mixed-use and certain commercial zones. However, each site must be assessed individually, as planning controls can vary significantly between jurisdictions and even within the same local government area. Overlay analysis is equally important. Heritage, flood, bushfire and contamination overlays can introduce additional requirements or restrict development outcomes. Identifying these constraints early helps avoid pursuing sites that are unlikely to proceed. BUILDING AN EFFECTIVE SOURCING STRATEGY A combination of on-market and off-market sourcing provides the most comprehensive coverage. Listing platforms offer visibility of available sites and help establish pricing benchmarks, but many viable opportunities are not publicly advertised. Engaging with local agents, buyer’s agents and developer networks can uncover off-market sites, particularly those held by long-term owners or underutilised assets. Direct outreach to property owners can also be effective, especially when supported by a clear acquisition brief and a credible development strategy. Maintaining a structured approach to sourcing ensures that opportunities are assessed consistently and efficiently. APPLYING A QUICK FEASIBILITY FRAMEWORK Once potential sites are identified, a rapid feasibility assessment helps determine whether they warrant further investigation. This involves estimating buildable floor area based on planning controls, allocating space between residential and retail uses and calculating potential unit yield. Revenue assumptions should be based on realistic market benchmarks, taking into account local sales rates and rental levels. Construction costs, including both hard and soft costs, need to be applied conservatively, with allowances for contingencies and potential delays. The objective at this stage is to establish whether the project can meet minimum return thresholds. Sites that do not meet these thresholds under conservative assumptions should generally be deprioritised. UNDERSTANDING PLANNING PATHWAYS AND TIMELINES Approval pathways for suburban mixed-use developments vary depending on the existing zoning and the scale of the proposal. Where zoning already supports the intended use, a development application may be sufficient. In other cases, a rezoning or planning proposal may be required to increase density or change permitted uses. Approval timelines can range from several months for straightforward applications to well over a year for more complex projects involving rezoning or significant community consultation. These timelines should be incorporated into feasibility assessments, along with associated costs such as consultant fees and council charges.
Early engagement with council can provide valuable insight into approval requirements and potential risks, helping to refine the development strategy before significant costs are incurred. CONDUCTING DETAILED DUE DILIGENCE Due diligence for mixed-use sites includes confirming title details, identifying easements or covenants and reviewing any existing leases that may affect redevelopment. Planning due diligence involves verifying zoning, overlays and development controls, as well as reviewing any previous applications or approvals associated with the site. Physical site conditions must also be assessed. Contamination, access constraints and infrastructure capacity can all influence development feasibility. Where risks are identified, specialist reports may be required to quantify their impact. STRUCTURING TRANSACTIONS AND MANAGING RISK Acquisition strategies should be designed to protect feasibility. Conditional contracts allow time to complete due diligence and secure planning approvals, while option agreements can provide control of a site without immediate commitment. Negotiation should reflect planning and technical risks. Pricing may need to account for potential remediation costs, approval uncertainty or infrastructure requirements. Structuring settlements to align with key milestones can also provide
flexibility during the development process. APPLYING FINANCIAL DISCIPLINE
A simple financial model is essential for early-stage decision- making. By estimating total development cost and comparing it with projected gross development value, developers can assess whether a project meets target margins. Sensitivity analysis is critical. Variations in sales prices, construction costs or planning outcomes can significantly affect profitability. Testing these scenarios ensures that projects remain viable under different conditions. PRACTICAL EXAMPLES Mixed-use developments on suburban corner sites often benefit from strong retail activation and efficient residential layouts, allowing for relatively straightforward approval pathways where zoning is supportive. In contrast, off-market sites with technical challenges such as contamination can offer better pricing, but require careful management of risk and cost. These examples highlight the importance of balancing opportunity with feasibility, and of validating assumptions early in the process. FINAL PERSPECTIVE Suburban mixed-zoned development is a repeatable process when approached with the right framework. Identifying growth areas, using planning tools to filter sites, applying disciplined feasibility analysis and managing risk through structured transactions are all critical components. Developers and investors who combine planning expertise with market insight are better positioned to identify viable opportunities and deliver successful mixed-use projects in suburban Australian markets.
May /June 2026 – 9
Development Sites
5 DEVELOPMENT SITES POSITIONED IN AUSTRALIA’S EXPANDING URBAN CORRIDORS
Prepared by Ready Media Group
As Australia’s major cities continue to expand, developers are increasingly targeting sites within emerging suburban corridors where infrastructure, population growth and demand fundamentals are aligning. This week’s selection highlights five opportunities positioned across some of the country’s fastest-evolving urban markets, each offering scale, connectivity and long-term development potential.
2–16 Young Road, Carlingford NSW 2118 Brought to market by Colliers Joesph Lin, Jordan McConnell and James Cowan. Located within Sydney’s north-western corridor, this Carlingford site benefits from strong surrounding residential density and improving transport connectivity. The area continues to attract development activity driven by infrastructure investment and growing demand for housing and mixed-use outcomes. The property offers developers exposure to a well-established metropolitan market with ongoing long-term growth.
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1710 Ballarto Road, Clyde VIC 3978
61 Don Young Road, Nathan QLD 4111 Brought to market by Collier's Troy Linnane and Brendan Hogan. Positioned within Brisbane’s southern corridor, this Nathan site benefits from proximity to established education, transport and residential infrastructure. The surrounding area continues to attract demand driven by connectivity and access to key employment hubs. The property offers developers the opportunity to deliver a project within a well-connected metropolitan location. Brought to market by B&S Lands Callum Williamson, Andrew Egan and Andy Shi. Situated within Melbourne’s south-east growth corridor, this Clyde site benefits from significant residential expansion and continued infrastructure delivery. The region continues to experience strong population growth, supporting demand for new development opportunities. The property presents developers with exposure to one of Melbourne’s most active suburban growth markets. 59 Robertson Street, Brendale QLD 4500 Brought to market by Integrated Property Partners David McPhillips and Chris Wright. Located within Brisbane’s northern industrial corridor, this Brendale site benefits from strong surrounding industrial activity and connectivity to major transport routes. Brendale continues to be a key employment hub within South East Queensland, supporting demand for industrial and commercial development. The property offers developers exposure to a high-demand logistics and employment market. 40 Masterpanel Lane, Bundamba QLD 4304 Brought to market by Collier's Levi Maxwell, Nick Evans and David Brisk. Situated within the Ipswich region, this Bundamba site benefits from strong infrastructure investment and proximity to major freight and transport networks. The area continues to experience population growth and increasing industrial demand, driven by South East Queensland’s ongoing expansion. The property offers developers a strategic opportunity within one of the region’s evolving employment corridors.
May /June 2026 – 11
Development Sites - Industrial
5 INDUSTRIAL DEVELOPMENT SITES DRIVING AUSTRALIA’S EMPLOYMENT CORRIDORS
Prepared by Ready Media Group
As demand for industrial land continues to accelerate across Australia, developers are increasingly targeting sites within established logistics corridors and employment precincts. These locations benefit from strong infrastructure, transport connectivity and sustained occupier demand. This week’s selection highlights five industrial development opportunities positioned at the centre of these high-performing markets.
15 Military Road, Midland WA 6056
Brought to market by Cushman & Wakefield's Ross Palframan and Nick Goodridge in conjunction with JLL's Joel Scully and Matthew Brunsdon. Located within Perth’s eastern corridor, this Midland site benefits from strong connectivity and proximity to established industrial and commercial precincts. The area continues to attract development activity driven by infrastructure investment and population growth. The property offers developers an opportunity to deliver an industrial outcome within a well- connected metropolitan location.
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Lots 9 & 10, Axis Mentone, Mentone VIC 3194 Brought to market by JLLs Harry Larwill and Ivo Redmond in conjunction with CBREs Patrick Noone and Fraser Pearce. Situated within Melbourne’s south-east industrial corridor, this Mentone site benefits from proximity to major arterial roads and established employment zones. The area continues to attract strong occupier demand due to its accessibility and infrastructure. The property presents a well-located industrial development opportunity within a tightly held market.
59 Robertson Street, Brendale QLD 4500 Brought to market by Integrated Property Partners David McPhillips and Chris Wright. Located within Brisbane’s northern industrial corridor, this Brendale site benefits from strong surrounding industrial activity and connectivity to major transport routes. Brendale continues to be a key employment hub within South East Queensland, supporting demand for industrial development. The property offers developers exposure to a high-demand logistics market.
111 Bourke Street & 90 Gipps Street, Carrington NSW 2294 Brought to market by Commercial Collective's Benjamin Morello and Byrne Tran. Positioned within Newcastle’s industrial precinct, this Carrington site benefits from proximity to the Port of Newcastle and key freight infrastructure. The area continues to play a critical role in the region’s logistics and industrial activity. The property offers developers a large- scale opportunity within one of New South Wales’ key employment centres. 121 Whytes Road, Bandiana VIC 3691 Brought to market by Dixon Commercial Real Estate's Andrew and Oscar Dixon in conjunction with Colliers' Ben Young and Chris Nanni. Located within the Albury-Wodonga region, this Bandiana site benefits from strong connectivity and proximity to key transport routes linking Victoria and New South Wales. The region continues to experience steady growth, supporting demand for industrial and employment land. The property presents an opportunity to deliver development aligned with ongoing regional expansion.
May /June 2026 – 13
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May /June 2026 – 15
MARKET MOVES VIC DESCRIPTION
VENDOR/ PURCHASER AGENCY
SALE $
A major logistics facility at 725 Boundary Road, Truganina has sold for $180 million, marking one of Melbourne’s largest industrial transactions of the year. The large-scale asset, located in a core western logistics precinct, highlights continued institutional demand for prime, well-connected industrial property. A residential development site at 214–220 & 222–226 Park Street, South Melbourne has sold for circa $25 million in a competitive off-market campaign. The consolidated inner-city holding attracted 10+ active groups, highlighting strong demand for premium apartment development opportunities in Melbourne’s city fringe.
725 Boundary Road, Truganina
Nick Saunders and Hugh Gilbert of Colliers.
$180 million
P: Private Investor
214–220 & 222–226 Park Street, South Melbourne
Colliers' Jozef Dickinson, Tim Storey, Philip Heberling and Aaron Choong Darren Beehag, Justin Kramersh and David Napoleone of CBRE, with Ben Baines and Alex Browne of Colliers acting for the purchaser The deals were negotiated by Nathan Edgar and Chris Bolsin of Knight Frank.
$25 million
P: Private Investor
476–478 High Street, Prahran
A prime inner-city development site at 476–478 High Street, Prahran has sold off-market for $12 million, highlighting strong demand for large-scale infill opportunities.
$12 million
P: Little Projects
More than 6.6 hectares of industrial land within the Ballarat West Employment Zone (BWEZ) has sold across four transactions totalling over $9 million. The sites, spanning Discovery Road and Assembly Avenue, were acquired by a mix of industrial occupiers, highlighting strong demand for strategically located regional land. A blue-chip retail asset at 456–460 Toorak Road, Toorak Village has sold under the hammer for $4.55 million, setting a record 1.5% net yield for the precinct. The Rail, Tram and Bus Industry Union Victorian division has purchased a renovated office at 15–19 Gracie Street, North Melbourne for $4.5 million, as it prepares to relocate its headquarters within Melbourne’s inner north. The dual-title holding, which also includes an open-air car park at 11 Gracie Street, comprises 832sqm of office space over two levels on a 1,068sqm site, with a total of 16 parking bays. The Special Use-zoned property sits opposite Clayton Reserve in the heart of the Arden urban renewal precinct.
Ballarat West Employment Zone (BWEZ)
$9 million
P: Private Investor
456–460 Toorak Road, Toorak Village
Mark Talbot and Lewis Waddell of Fitzroys
$4.55 million
Undisclosed
15–19 Gracie Street, North Melbourne
CVA’s Ian Angelico, Matt Knox and Craig McKellar.
$4.5 million
P: Private Investor
24–28 Williams Road, Dandenong South
An industrial facility at 24–28 Williams Road, Dandenong South has sold for $5.8 million, reflecting strong demand for low site coverage assets in Melbourne’s south-east.
Sam Hibbins and Luke Lowden of Colliers
$5.8 million
Undisclosed
The former Star of the Sea school site at 42 Canterbury Road, Warrnambool has sold to a Melbourne- based developer following a competitive campaign. The 14,634sqm corner landholding, just 600m from the CBD, attracted six offers, highlighting strong demand for large-scale regional development sites. A prime CBD office freehold at 470 Collins Street, Melbourne has sold for $60,350,000 following a highly competitive EOI campaign. A multi-level medical building at High Street, Armadale has sold via private sale. The 275sqm property on a 409sqm landholding is purpose-built for healthcare use, featuring 10 fully fitted consulting rooms, strong exposure and on-site parking, attracting both owner-occupiers and investors.
David Napoleone of CBRE and Mark Dwyer of Ludeman Real Estate.
42 Canterbury Road, Warrnambool
Undisclosed
P: Private Investor
470 Collins Street, Melbourne
Cushman & Wakefield's Leon Ma
$60.35 million
Undisclosed
High Street, Armadale
Tim Cooney and Jordan Carroll of CVA Property Consultants
$3.875 million
Undisclosed
36 & 40–42 Cumberland Road, Pascoe Vale
The Cumberland Collective at 36 & 40–42 Cumberland Road, Pascoe Vale has sold for a combined $3.4 million to Melbourne Racing Club.
P: Melbourne Racing Club
Lucas Soccio and Travis Keenan of Colliers
$3.4 million
ACT
VENDOR/ PURCHASER AGENCY
DESCRIPTION
SALE $
A long WALE office asset at 9 Brisbane Avenue, Barton has sold off-market for $86 million, reflecting a 5.73% yield. The 14,700sqm landholding, home to the Australian Federal Police, is secured by a long-term lease to 2036 and marks the first long WALE transaction in the Parliamentary precinct since 2022.
9 Brisbane Avenue, Barton
$86 million
Undisclosed
Colliers Matthew Winter
SA
VENDOR/ PURCHASER AGENCY
DESCRIPTION
SALE $
65–69 West Avenue & 12 Kaurna Avenue, Edinburgh
A core-plus industrial asset at 65–69 West Avenue & 12 Kaurna Avenue, Edinburgh has sold for $18.1 million, highlighting strong national demand for Adelaide industrial investments.
Max Frohlich and Ryan Mills of Knight Frank
$18.1 million
Undisclosed
A significant industrial development site at 34–50 Essington Drive, Edinburgh has transacted for circa $14.85 million in an off-market deal.
Anthony De Palma and Henry Treloar of Leedwell
$14.85 million
Undisclosed
P: RealSide
16 – May /June 2026
THE PROPERTY DEVELOPMENT REVIEW
NSW DESCRIPTION
VENDOR/ PURCHASER AGENCY
SALE $
The Carlisle Castle Hotel in Newtown has sold, ending over 60 years of family ownership, with Universal Hotels securing the iconic inner-city pub. Situated on a 568sqm corner site, the two-storey venue includes bars, accommodation, gaming and retail components, attracting strong interest from local and interstate buyers. The commercial asset at 350 Eastern Valley Way, Chatswood has sold for $30.5 million, reflecting a 5.57% net yield and a building rate of $7,930/sqm. Fully leased to Fitness First Platinum through to 2031, the three-storey property sits on a substantial 6,491sqm landholding and attracted strong interest from local and offshore investors seeking secure income with future repositioning or development potential. The 3,371sqm rectangular landholding, positioned opposite North Kellyville Public School and close to North Kellyville Town Centre, was acquired by a private buyer following a competitive auction campaign. A major development parcel at Site 1, Precinct 9, Edmondson Park has sold for $5.805 million. The 5,759sqm triple-street frontage site, located approximately 700 metres from Edmondson Park Railway Station, was purchased by a private buyer at auction. A substantial landholding at 100–102 Fox Valley Road, Wahroonga has sold under the hammer for $2.96 million. The 6,861sqm site, positioned within Sydney’s affluent Ku-ring-gai district, attracted strong buyer interest during the auction campaign. A prominent development site at Lots 70–73 Windsor Road, Baulkham Hills has sold for $2,090,909. The 2,472sqm landholding, benefiting from exposure to Windsor Road, was acquired by a private buyer following auction. A KFC-anchored retail investment at 30–34 Chalmers Street, Surry Hills has sold for $6,250,000, reflecting a 5.98% net yield.
Leonard Bongiovanni and Tom Cullen of MQ & Associates.
Undisclosed
The Carlisle Castle Hotel
P: Private Investor
Harry Bui and Zhenni Lu of Colliers, alongside Mark Litwin of Knight Frank.
350 Eastern Valley Way, Chatswood
$30.5 million
P: Private Investor
Hipwell Avenue, North Kellyville
Jeff Moxham and Mark Litwin of Knight Frank.
$4.95 million
P: Private Buyer
Site 1, Precinct 9, Edmondson Park
Jeff Moxham, Mark Litwin and Joshua Baruch of Knight Frank.
$5.805 million
P: Private Investor
The deal was negotiated by Jeff Moxham and Joshua Baruch of Knight Frank, in conjunction with Adam Ross of McGrath.
100–102 Fox Valley Road, Wahroonga
$2.96 million
P: Private Investor
70–73 Windsor Road, Baulkham Hills
The deal was negotiated by Jeff Moxham of Knight Frank.
$2.09 million
P: Private Investor
30–34 Chalmers Street, Surry Hills
James Masselos and Demi Carigliano of Knight Frank
$6.25 million
Undisclosed
QLD 1 Bellvue Drive, Varsity Lakes
VENDOR/ PURCHASER AGENCY
DESCRIPTION
SALE $
A Coles-anchored neighbourhood shopping centre at 1 Bellvue Drive, Varsity Lakes has sold off- market for more than $37 million, reflecting a sharp 4.75% yield. The Mitre 10 at 1 Electra Street, Bundaberg Central has sold for $3,000,000, reflecting a 7.98% yield. The 2,370sqm freestanding hardware store, positioned on a 4,510sqm triple-frontage site, generated 255 enquiries and six offers, with a Victorian private investor securing the asset. The Post Office Centre in Mareeba has sold for $4,600,000, reflecting a 7.76% yield. The 1,830sqm neighbourhood centre, anchored by Australia Post and comprising 13 tenancies, attracted 271 enquiries and five bidders, highlighting strong regional investor demand. The landmark Paradise Centre and Novotel Surfers Paradise have sold for a combined $346.5 million, marking Queensland’s largest mixed-use hotel and retail transaction on record. The 2.3-hectare beachfront precinct, anchored by Woolworths and comprising a major retail and entertainment centre alongside a 408-room hotel, attracted strong international and domestic interest. A inner-city development site at 109 Logan Road, Woolloongabba has sold for $21 million, highlighting strong demand for well-located Brisbane sites. The corner property, with approval for 203 apartments and potential for up to 36 storeys, attracted competitive interest from developers seeking scale and future upside. A major automotive asset at 247–249 Morayfield Road, Morayfield has sold off-market for $18.5 million, just six months after its previous transaction. The Royal Hotel Nundah at 1259 Sandgate Road has sold prior to auction for $13.171 million, reflecting a 5.26% yield. The historic Brisbane pub, positioned on a 2,025sqm corner site, is leased to Australian Venue Co on a long-term net lease extending to 2078 and includes 34 gaming machine authorities. The landmark Ampol Burleigh Heads has sold for $10 million, reflecting a 5.24% yield following a competitive national expressions of interest campaign. Positioned on a substantial 10,400sqm freehold site with direct access to the Pacific Motorway, the asset attracted more than 95 enquiries and seven offers, highlighting continued demand for strategically located fuel and convenience investments. A trophy fast food and convenience centre in Townsville has sold for $9,950,000, reflecting a 5.50% net yield following a competitive auction campaign. The Harvey Norman Centre at 64 Victoria Street, Warwick has sold for $7.45 million, highlighting continued demand for large format retail assets in regional Queensland. The 3,809sqm centre sits on a 7,502sqm site and is anchored by Harvey Norman on a long-term lease to 2034, providing secure income.
Joe Tynan and Michael Hedger of CBRE
$37 million
Undisclosed
1 Electra Street, Bundaberg Central
P: Victorian Private Investor
Oscar Little and Michael Feltoe of RWC Retail
$3 million
94 Byrnes Street, Mareeba
Oscar Little and Michael Feltoe of RWC Retail
$4.6 million
Undisclosed
Sam Hatcher, Nick Willis, Adam Bury and Peter Harper of JLL, in conjunction with Sam McVay and Dan McVay of McVay Real Estate Nick Wedge and Will Carman of CBRE, alongside Tim Jones and Vaughn Smart of Chesters.
The landmark Paradise Centre and Novotel Surfers Paradise
$346.5 million
P: Private Investor
109 Logan Road, Woolloongabba
$21 million
P: Private Investor
247–249 Morayfield Road, Morayfield
The deal was negotiated by Hunter Higgins of Colliers.
$18.5 million
P: Private Investor
The Royal Hotel Nundah at 1259 Sandgate Road
CBRE's Jack Morrison, Yosh Mendis and Paul Fraser
$13.171 million
P: Private Investor
Michael Collins and Harry Curtain of Stonebridge Property Group.
The landmark Ampol Burleigh Heads
$10 million
P: Private Investor
Tom Lawrence and Neville Smith of CBRE Chris Stewart of LJ Hooker Commercial Toowoomba and Harry Dever of Colliers
$9.95 million
4 Market Street, Burdell
Undisclosed
64 Victoria Street, Warwick
$7.45 million
Undisclosed
May /June 2026 – 17
Construction – NSW
NSW BUILDING BILL TARGETS PREFAB HOMES, APPROVALS AND CERTIFIERS
Author: Leon Della Bosca
The Urban Developer
NSW has introduced building legislation that would make the state the first Australian jurisdiction to formally recognise modern methods of construction (MMC) in law.
professionals would access the new framework through a single digital platform. NSW building minister Anoulack Chanthivong said the reforms targeted unnecessary red tape around MMC and prefab housing construction. “As we confront this once-in-a-generation housing supply challenge, prefabricated homes are becoming an increasingly popular time and cost-effective alternative to traditional housing,” Chanthivong said. “This Bill, if passed, will see NSW become the leading jurisdiction in Australia when it comes to modern methods of construction.” Certifiers face stiffer penalties Conflict-of-interest rules for certifiers would also be tightened under the Bill. Maximum court-imposed penalties for breaching such rules would rise from $33,000 to $1.1 million, with automatic suspension applying upon conviction. NSW building commissioner James Sherrard said the reforms would give his agency the tools needed to oversee certifiers and prefabricated construction types.
The Building (Approvals and Practitioners) Bill 2026, tabled in parliament this week would define prefabricated buildings, integrate MMC into the approvals system and introduce consumer protections for prefabricated home buyers. The Commonwealth Productivity Commission estimates MMC, including modular and prefabricated construction, could reduce overall costs by up to 20 per cent and cut build times by 50 per cent compared to traditional methods. Cutting through red tape Streamlining a fragmented approvals process is another aim of the Bill. Duplicative design requirements for identical building elements would be removed, with the government estimating savings of around $330,000 per apartment block. Staged approvals would allow construction to begin and occupants to move in earlier. Minor variations to development consent within defined parameters would be permitted without full reassessment. Industry
18 – May /June 2026
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