Welcome to Issue 73 of The Property Development Review, exclusively for agents, developers and investors.
JULY / AUGUST 2026 - ISSUE NUMBER 74
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 – July / August 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 As always, we bring you the latest listings, standout transactions and market insights from across Australia, reflecting continued confidence in quality development sites and commercial assets. Together, these stories demonstrate the resilience of Australia's property sector and the opportunities available to investors, developers and industry professionals with a long-term perspective. Enjoy the read. In this edition, we explore the people, ideas and market forces shaping Australia's property, investment and development landscape, from institutional capital and housing affordability to industrial growth and the future of urban communities. Leading this issue is an exclusive conversation between Rob Langton and Sid Myer AO, Chairman of Myer Family Investments. Sid reflects on stewardship, the evolution of family enterprise, and the values that have shaped generations of business, investment and community leadership - offering valuable insights into legacy, purpose and building institutions that endure. We also examine key market trends, including rising demand for premium childcare assets, Victoria's tightening greenfield land supply, and the changing balance between apartments and detached housing as affordability continues to influence buyer behaviour. Major industrial, residential and mixed- use developments across Sydney, Queensland and Adelaide further highlight the strength of Australia's development pipeline.
Intelligent Investment
Australia’s Industrial and Logistics Vacancy First Half 2026 (1H26)
REPORT
CBRE RESEARCH JULY 2026
05 THE INTERVIEW Sidney Myer AO Myer Family Investments
08 INDUSTRIAL Australia’s Industrial and Logistics Vacancy – First Half 2026 (1H26) CBRE Research
07
48
CHILDCARE Private investors chase premium childcare as development barriers and land values climb Ready Media Group
GREENFIELDS - VICTORIA Victoria’s greenfield pipeline tightens as delivery pressures mount Ready Media Group
72 50
VIC OPPORTUNITIES
10
MARKET MOVES Key transaction & deal analysis
APARTMENTS Goldfields Reveals Builder for $100m Queensland Debut at Milton
12 OFFICE
Lindsay Saunders The Urban Developer
Finding Office-Zoned Development Properties Ready Media Group
73
GREENFIELDS-QUEENSLAND Colliers Brings Ballina Land & Farms to market beside Pacific Highway Ready Media Group
14
OFFICE Finding Suburban Office Space Development Property in Australia Ready Media Group DEVELOPMENT SITES 5 Development Opportunities Backed by Scale, Location and Long-Term Potentia L Ready Media Group
74
QLD OPPORTUNITIES
16
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 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
83 INFRASTRUCTURE - SOUTH AUSTRALIA Heart of Central Adelaide’s Lot 14 Technology Precinct Decided Chris Thomson The Urban Developer
18 DEVELOPMENT SITES
5 Development Opportunities at the Centre of Australia's Growth Story Ready Media Group
84
SA OPPORTUNITIES
20 HOUSING
90 HERITAGE - WESTERN AUSTRALIA Unique opportunity to revive prime Swan River heritage site Ready Media Group 91 SPORTS INFRASTRUCTURE - WA ‘Eye Watering’ Revamp Endorsed for Fremantle Dockers’ Spiritual Home Chris Thomson The Urban Developer
Affordability Squeeze Rewrites Apartment v House Rule Patrick Lau The Urban Developer
22 TITLE INSURANCE
The Hidden Gaps in Due Diligence: How Title Insurance Safeguards Commercial Property Deals Sponsored WAREHOUSING & DATA Centennial Plots Logistics Scheme Next to St Marys Intermodal Terminal Property Deals
23
92
WA OPPORTUNITIES
108 ACT OPPORTUNITIES 114 NT OPPORTUNITIES
Lindsay Saunders The Urban Developer
24
NSW OPPORTUNITIES
Photo courtesy of Kollosche Commercial Gold Coast Highway, Mermaid Beach
July / August 2026 – 3
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4 – July / August 2026
The Interview
THE PROPERTY DEVELOPMENT REVIEW
SIDNEY MYER AO
MYER FAMILY INVESTMENTS
With Rob Langton - Ready Media Group
A STORY OF BUSINESS. A STORY OF GIVING. A STORY OF FAMILY.
Sidney Hordern Myer AO carries one of the most significant names in Australian business, philanthropy and public life. But this is not simply a conversation about inheritance. It is a conversation with a man who has spent decades actively shaping, extending and protecting that inheritance - through business, investment, the arts, regional Australia, philanthropy, cultural institutions, Australian-Asian relations and public service. The Myer story begins with Sidney Myer - born Simcha Baevski - who arrived in Melbourne in 1899 as a young Jewish migrant from the former Russian Empire, with little money and limited English. From the goldfields of regional Victoria to a small drapery store in Bendigo, and ultimately to the creation of the Myer Emporium in Melbourne, his life became one of the great Australian stories of enterprise, reinvention and contribution. More than a century later, Sid Myer has carried that story forward in his own way. He has spent more than 35 years across retailing and investment management in Australia and overseas, served as Chairman of Myer Family Investments, and played a central role in stewarding one of Australia’s most important family investment groups. Beyond business, his life’s work has extended deeply into the civic and philanthropic life of the country. As a long-serving Trustee of the Sidney Myer Fund, a Trustee of the Estate of Sidney Myer, Chair of the National Portrait Gallery of Australia Foundation, and a director across organisations including the Yulgilbar Group of Companies, the Yulgilbar Foundation and the Sid and
Fiona Myer Family Foundation, Sid has helped continue a family tradition that has shaped Australian culture, education, the arts, regional development and community life for generations. His service has also reached into rural and regional Australia, conservation, zoological organisations, cultural exchange and the strengthening of Australia’s relationship with Asia - work recognised through his appointment as an Officer of the Order of Australia for distinguished service to the community through philanthropy, equality, the arts and Australian- Asian relations. In this rare long-form conversation, Sid Myer reflects on the responsibility of carrying a name that belongs not only to a family, but to the national story. This is a conversation about migration, ambition, memory and obligation. About what is passed from one generation to the next. About the discipline required to preserve a legacy without being trapped by it. And about the question at the centre of every enduring family enterprise: what does it mean to inherit something larger than yourself — and still make your own contribution? From the remarkable life of the original Sidney Myer to Sid Myer’s own decades of leadership across investment, philanthropy, culture and public life, this episode explores one of the great dynastic stories in modern Australia. A story of business. A story of giving. A story of family. And a story that remains deeply woven into the fabric of Australian life.
SCAN OR CLICK TO WATCH THE VIDEO INTERVIEW IN FULL
July / August 2026 – 5
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6 – July / August 2026
Childcare
THE PROPERTY DEVELOPMENT REVIEW
PRIVATE INVESTORS CHASE PREMIUM CHILDCARE AS DEVELOPMENT BARRIERS AND LAND VALUES CLIMB
Prepared By Ready Media Group
Demand is centred on modern, purpose-built centres in major growth corridors and regional population hubs with long leases to established national operators.
for $7.7 million at a 5.30% yield following an on-market campaign that attracted more than 135 enquiries. The 110-place centre was completed in 2021 on an approximately 2,400 sqm site opposite Griffin State Primary School. The property is leased on a 15-year net basis until 2035, with options extending to 2055 and CPI-linked annual rent reviews. Mr Proberts said the campaign attracted buyers seeking exposure to fast-growing outer metropolitan markets where childcare places are in short supply. “Griffin is one of Brisbane's fastest-growing residential corridors, and the suburb currently has a childcare demand ratio of approximately 3.3 children aged 0 to 5 for every available place, so the underlying need is clear,” Mr Proberts said. “Combined with a modern purpose-built facility, a long-term lease to Australia’s largest childcare provider and a prominent location directly opposite Griffin State Primary School, the asset ticked every box for investors seeking exposure to South East Queensland's growth story.” NO SLOWDOWN IN SIGHT Competition for well-leased childcare properties is expected to remain strong over the next 12 to 24 months, driven by limited new supply, rising building costs and continued population growth. Mr Morel and said investors would likely stay focused on assets offering secure income and exposure to growing family catchments. “The key drivers behind results like Griffin, being constrained supply, rising replacement costs and structural demand from growing family catchments, remain firmly in place and we don’t see that changing over the next 12 to 24 months,” he said. “Modern centres leased to established operators in high-growth corridors will continue to be the most sought-after opportunities, and for those assets, pricing is expected to remain firm and buyer competition strong.”
Stonebridge Property Group Partner Tom Moreland said investors were increasingly backing childcare assets in suburbs with strong population growth and limited existing supply. “Government support through the Child Care Subsidy provides a stable revenue environment for operators, while Australia's growing population is driving long-term demand for services,” Mr Moreland said. “In growth corridors like South East Queensland and Western Sydney, buyers have a strong conviction that demand will only increase as young families continue to move into expanding communities, and modern centres leased to established operators are well-placed to capture that.” COST AND SCARCITY DRIVE VALUE Planning constraints, construction pressures, and extended approval timelines have made it more expensive to deliver compliant, purpose-built centres. For investors, that has translated into a greater appreciation of what a completed, tenanted asset is actually worth. “What’s reinforcing that investor conviction is the growing recognition of how difficult and costly it is to deliver new childcare supply today,” Mr Moreland said. Stock scarcity is adding further pressure, with demand consistently outweighing the volume of childcare properties coming to market. “The supply of premium childcare freeholds is inherently limited, and once acquired, owners tend to retain them for long periods given the secure income, annual rental growth and favourable demographic tailwinds,” he said. “With constrained new delivery and an investor base that rarely sells, the supply of quality assets coming to market is genuinely limited.” GRIFFIN SALE SPARKS FIERCE COMPETITION A recent childcare sale in Brisbane’s northern growth corridor highlighted the depth of investor demand for well-leased properties. A Goodstart Early Learning centre at 60 Wesley Road, Griffin, sold
July / August 2026 – 7
Industrial
AUSTRALIA’S INDUSTRIAL AND LOGISTICS VACANCY – FIRST HALF 2026 (1H26)
Prepared By CBRE Research
y
The national vacancy rate remains unchanged (3.2%) – continues to be one of the lowest levels globally.
The CBRE Research Industrial and Logistics vacancy figure is the most widely quoted statistic in the industry due to the depth and accuracy of our methodology. We leverage the most comprehensive stock list in the market, tracking assets over 5,000 sqm (NLA) in Sydney and Melbourne, and over 3,000 sqm (NLA) in Brisbane, Perth and Adelaide. The vacancy reflects floorspace that is built and now available to occupy, thus including sub-lease space.
8 – July / August 2026
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.
Ballarat West Employment Zone (BWEZ)
$9 million
P: Private Investor
456–460 Toorak Road, Toorak Village
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.
Mark Talbot and Lewis Waddell of Fitzroys
$4.55 million
Undisclosed
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.
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.
David Napoleone of CBRE and Mark Dwyer of Ludeman Real Estate.
42 Canterbury Road, Warrnambool
Undisclosed
P: Private Investor
470 Collins Street, Melbourne
A prime CBD office freehold at 470 Collins Street, Melbourne has sold for $60,350,000 following a highly competitive EOI campaign.
Cushman & Wakefield's Leon Ma
$60.35 million
Undisclosed
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.
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
SA
VENDOR/ PURCHASER AGENCY
DESCRIPTION
SALE $
65–69 West Avenue & 12 Kaurna Avenue, Edinburgh 34–50 Essington Drive, 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
P: RealSide
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
10 – July / August 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
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
July / August 2026 – 11
Office
FINDING OFFICE-ZONED DEVELOPMENT PROPERTIES
Prepared by Ready Media Group
The Australian office development market is responding to a generational shift in how businesses use space. Hybrid work, urbanisation, and evolving tenant expectations are changing demand, and for developers who understand where that demand is heading, the opportunities are real. Office- zoned properties sit at the centre of this activity, offering strong yield potential, asset appreciation, and a direct role in local economic growth.
residential, commercial, and sometimes light industrial uses. Increasingly relevant as urban renewal projects create new opportunities within established suburbs. Zoning frameworks differ meaningfully between states. NSW, for example, applies different classifications and permit triggers to Victoria, and those differences directly affect what can be developed and how long approvals will take. Understanding the specific planning scheme that
This guide covers what developers need to know, from reading zoning classifications and navigating approvals to securing financing and meeting environmental obligations across metropolitan, suburban, and regional markets. UNDERSTANDING ZONING REGULATIONS Zoning laws establish what can be built, where, and under what conditions. In Australia, these regulations vary considerably between states and between individual councils, making local knowledge an essential part of any site assessment. OVERVIEW OF ZONING TYPES IN AUSTRALIA Four classifications are most relevant to office development: 1.Commercial Zoning: The primary zone for office development, supporting business activities across inner- city, suburban, and mixed-use precincts. 2.Residential Zoning: Focused on housing and community uses. Office development is generally not permitted, though some transitional zones allow limited commercial activity. 3.Industrial Zoning: Covers manufacturing and logistics operations. Proximity to industrial areas can suit certain formats, particularly in technology and logistics-adjacent sectors. 4.Mixed-Use Zoning: Permits a combination of
applies to a target site is essential groundwork. HOW TO NAVIGATE LOCAL ZONING LAWS
Two steps are fundamental to effective zoning navigation: 1.Use online zoning maps: State and local council planning portals publish zoning maps that identify what development is permissible on specific parcels. These should be the first point of reference for any site under consideration. 2.Engage local planning authorities directly: Council planning officers can clarify zoning classifications, explain permit requirements, and flag any constraints or referral obligations that may not be immediately apparent from map data alone. CONDUCTING EFFECTIVE MARKET RESEARCH Two steps are fundamental to effective zoning navigation: Use online zoning maps: State and local council planning portals publish zoning maps that identify what
12 – July / August 2026
THE PROPERTY DEVELOPMENT REVIEW
OVERVIEW OF FINANCING OPTIONS AVAILABLE Two primary funding pathways are available to developers: 1.Bank loans: Traditional commercial finance offers competitive rates for well-structured proposals, but requires detailed business plans, feasibility analysis, and demonstrated equity. 2.Government grants: State and federal programs periodically target commercial development in specific locations or sectors, particularly where projects contribute to economic growth, employment, or urban renewal objectives. TIPS FOR SECURING FINANCING Two factors consistently improve financing outcomes: 1.A well-prepared proposal: Lenders and grant bodies respond to clear market analysis, transparent financial projections, and a credible development program. Vague or optimistic submissions rarely succeed. 2.Industry relationships: Connections within the commercial property sector open access to joint venture partners, private capital, and co-investment structures that can complement or substitute for traditional debt financing. ENVIRONMENTAL CONSIDERATIONS IN DEVELOPMENT Environmental compliance is not a value-add. The regulatory and reputational cost of getting it wrong is significant, and the market increasingly rewards developments that go beyond minimum standards. ASSESSING ENVIRONMENTAL IMPACTS Two areas require particular attention in office development: • Green space and biodiversity: Developments that demonstrate sensitivity to existing habitats and incorporate meaningful landscaping generate less community resistance and perform better through council assessment. • Sustainable design: Energy efficiency, sustainable materials, and smart building technology reduce long-term operating costs and are now active considerations for many corporate tenants when evaluating office space. Green-rated buildings consistently achieve stronger leasing outcomes than comparable non-rated stock. RESOURCES FOR ENVIRONMENTAL ASSESSMENTS State environmental agencies publish guidelines, assessment frameworks, and compliance resources relevant to each jurisdiction. Engaging a specialist environmental consultant early in the development process is the most reliable way to identify obligations, manage risks, and produce assessment documentation that meets regulatory requirements. THE FINAL WORD Office-zoned development in Australia is active, competitive, and increasingly nuanced. Developers who combine rigorous zoning knowledge, current market research, a disciplined approvals strategy, and genuine attention to environmental and financing considerations are the ones consistently delivering successful projects.
development is permissible on specific parcels. These should be the first point of reference for any site under consideration. Engage local planning authorities directly: Council planning officers can clarify zoning classifications, explain permit requirements, and flag any constraints or referral obligations that may not be immediately apparent from map data alone. CONDUCTING EFFECTIVE MARKET RESEARCH • Commercial real estate platforms : Property listing sites and market data services provide pricing trends, vacancy rates, and transaction history for specific precincts and property types. • Government and economic reports: State and federal development reports identify infrastructure investment pipelines, population growth projections, and emerging commercial precincts. ANALYSING COMPETITION AND MARKET DEMAND Understanding what existing stock looks like in a target area, and what gaps remain, is critical to positioning a new development competitively. Direct engagement with commercial leasing agents provides ground-level insight into what tenants are actually seeking: floor plate configuration, end-of-trip facilities, technology infrastructure, and proximity to transport. That intelligence should feed directly into design and specification decisions. THE DEVELOPMENT APPROVAL PROCESS Development approval for office projects is a process that rewards preparation. STEPS FOR OBTAINING DEVELOPMENT APPROVAL There are three key steps in the approval process: • Prepare documentation thoroughly: Architectural plans, permit applications, and environmental assessments need to be complete and compliant before submission. Incomplete applications are the most common cause of avoidable delays. • Submit in accordance with local standards: Each council has specific submission requirements. Understanding and meeting these standards from the outset keeps the process moving. • Engage the community proactively: Early outreach to local stakeholders can build goodwill and reduce the likelihood of organised opposition during the assessment period. UNDERSTANDING COMMUNITY IMPACT ASSESSMENTS A community impact assessment evaluates how a proposed development will affect the surrounding area, covering factors such as traffic, amenity, and local infrastructure capacity. Done well, it also identifies genuine community benefits, job creation, improved public realm, and enhanced local services, which can strengthen a development application and build broader support for the project. Funding Sources for Property Development Securing the right financing structure is as important as securing the right site.
July / August 2026 – 13
Office
FINDING SUBURBAN OFFICE SPACE DEVELOPMENT PROPERTY IN AUSTRALIA
Prepared by Ready Media Group
In the Australian office market, premium CBD assets continue to attract institutional capital, but a separate and growing market has emerged for high-quality suburban workplaces closer to where employees live. Rising CBD occupancy costs, shifting workplace expectations, and sustained public transport investment have opened genuine development opportunities in suburban locations where zoning, tenant demand, and land pricing align.
improving accessibility. Vacancy levels, rental trends, and land availability round out the picture. A suburb with rising demand and limited quality stock presents a stronger development case than one where existing supply already exceeds absorption. Zoning outlook matters too. Structure plans and precinct strategies can create future development upside that isn’t yet reflected in current land pricing. SUBURBAN OFFICE MARKETS TO INVESTIGATE Each city has its own suburban office geography, and understanding the distinctions between precincts is essential before committing to a search area. • Melbourne: Box Hill, Footscray, Dandenong, Ringwood, and Sunshine each offer different forms of suburban office potential, whether through transport-oriented development, health precinct anchors, urban renewal, or industrial-to- commercial transition. • Sydney: Parramatta functions as a major secondary CBD, while Macquarie Park, Liverpool, Norwest, and Rhodes offer established or emerging employment clusters with varying land cost and approval profiles. • Brisbane: Fortitude Valley, Bowen Hills, Woolloongabba, Newstead, and Chermside combine commercial activity with transport access and mixed-use development potential. • Perth: Osborne Park, Joondalup, Cannington, Stirling, and Belmont present opportunities within established commercial and industrial corridors suited to office redevelopment.
Suburban office development is particularly well-suited to small and mid-sized developers, private investors, and commercial brokers seeking stronger returns than passive commercial acquisitions can deliver. This guide covers the full process, from suburb selection and site sourcing through due diligence, approvals, feasibility, and delivery. WHY SUBURBAN OFFICE DEVELOPMENT MATTERS Not every business needs a CBD address. While some employers require high-quality, professional office environments, suburban centres with strong transport connections, nearby retail amenity, and access to local workforces offer a credible and often more cost- effective alternative. This dynamic is strongest in locations anchored by health precincts, universities, transport upgrades, business parks, and mixed-use activity centres. Where a clear gap exists between tenant demand and available quality stock, new suburban office supply has a genuine market to absorb it. PRIORITISING SUBURBS WITH DATA Suburb selection is where suburban office development is won or lost, and instinct is not a reliable filter. Each location should be assessed against a consistent set of location and commercial criteria. Population growth signals future workforce depth and local demand. Employment growth and business activity indicate whether an area can absorb additional supply. Transport infrastructure is critical, particularly where new stations, improved bus corridors, or road upgrades are materially
14 – July / August 2026
THE PROPERTY DEVELOPMENT REVIEW
agencies frequently influencing feasibility outcomes. Straightforward approvals can move through in several months. Rezoning or scheme amendments can extend across one to two years, depending on complexity and council disposition. Early council engagement, pre-application meetings, and upfront technical studies reduce uncertainty and surface risks before capital is committed. TESTING FINANCIAL VIABILITY The feasibility model is the project’s first real test, and it needs to be built on honest inputs. The core drivers are land cost, development cost, holding cost, gross development value, and exit yield. A working pro-forma should estimate purchase price, achievable gross floor area, construction costs, consultant and approval fees, finance costs, and leasing or disposal assumptions. For projects intended to be retained, stabilised net operating income and exit capitalisation rate become the primary valuation inputs. Sensitivity testing is crucial. A 10% increase in construction cost, or a modest reduction in end value, can quickly move a marginal project into unviable territory. This is particularly relevant in suburban office markets, where tenant demand and exit liquidity vary considerably between locations and can be difficult to predict with precision. STRUCTURING ACQUISITION AND NEGOTIATION Contract terms are a risk management tool, and they should be treated as one from the outset. Conditional contracts, option agreements, and staged due diligence periods create space to confirm planning, finance, and market assumptions before full commitment. Where approval risk is material, conditions tied to rezoning outcomes, development approval, or satisfactory planning determinations can protect feasibility if the process takes longer or delivers different outcomes than anticipated. Sunset dates should reflect realistic planning milestones, not optimistic ones. Demonstrated funding capacity, a clear acquisition brief, and a practical approach to approvals improve the likelihood of securing competitive sites, particularly where multiple parties are interested. MOVING FROM ACQUISITION TO DELIVERY Once a site is secured, speed and discipline in the early design and procurement stages set the tone for everything that follows. Early cost planning from a quantity surveyor reduces pricing uncertainty before documentation is advanced. Early contractor involvement identifies buildability risks while there is still time to address them without cost impact. Design needs to satisfy both planning requirements and tenant expectations. Efficient floor plates, a considered parking strategy, end-of-trip facilities, access to amenity, and genuine flexibility of use all influence leasing and sale outcomes. In suburban markets, office developments frequently need to compete on more than rent alone. Convenience, workplace quality, and the surrounding environment are active considerations for tenants choosing between suburban options. THE FINAL WORD Suburban office development delivers when the fundamentals are right, and the process is disciplined. Transport access, tenant demand, planning support, and land pricing need to align before a project makes sense. The developers and investors who combine rigorous suburb selection with detailed due diligence, honest feasibility testing, and a structured approach to approvals are consistently the ones who find viable sites, negotiate effectively, and bring projects to completion.
These locations are just starting points. Current zoning, overlays, land availability, and recent transaction evidence must be confirmed through local council and state planning systems before any site progresses. SOURCING SUBURBAN OFFICE DEVELOPMENT SITES A single-channel search strategy will miss most of the market. Public listings identify available stock, but they rarely capture all opportunities. Developers should monitor national portals, local agency listings, and specialist development platforms, while maintaining active relationships with brokers and local agents who know what is coming before it is listed. Off-market sourcing is particularly valuable in suburban office markets. Sites near stations, activity centres, industrial transition corridors, and large retail holdings may never be publicly listed, but owners may be open to a sale, joint venture, or option structure when approached with a credible and clearly communicated development intent. Planning maps are an underused sourcing tool. Identifying zones that permit commercial or mixed-use development, then cross- referencing against transport overlays, activity centre boundaries, and known constraints, allows developers to locate potential opportunities before they appear on any platform. CONDUCTING SITE DUE DILIGENCE Every assumption in a feasibility model needs to be tested against what a site can actually deliver. Due diligence before exchange should confirm that the site is physically, legally, and commercially capable of supporting the intended development. • Title searches: Identify easements, covenants, rights of way, and other restrictions that may affect use or access. Planning checks confirm permitted uses, height controls, floor space ratios, parking requirements, setbacks, heritage listings, and precinct overlays. These controls determine both the approval pathway and the achievable development yield. • Physical analysis: Covers topography, flood exposure, contamination risk, service availability, and stormwater requirements. Utility capacity deserves particular attention in office projects, where power, sewer, or water infrastructure upgrades can add materially to project cost. • Tenant demand: Should be tested early, not after acquisition. A viable suburban site needs demonstrable access to a suitable workforce catchment, evidence of leasing or sales activity in the area, and local amenity that businesses and their staff will actually value. UNDERSTANDING REZONING AND APPROVAL PATHWAYS Knowing which approval pathway applies to a site before exchange is fundamental to managing both timeline and risk. Most projects fall into one of two categories: a standard development application or planning permit where office use is already supported by current zoning, or a more complex pathway involving rezoning, a planning scheme amendment, or a departure
from existing density controls. Requirements also vary by state:
• New South Wales: A planning proposal or Local Environmental Plan amendment may be required where current controls don’t support the proposed use, while a standard development application will suffice where commercial activity is already permitted. • Victoria: Projects may require a planning permit or scheme amendment, with third-party review through VCAT adding time where objections arise. • Queensland: A material change of use or planning scheme amendment may apply, with infrastructure charges and referral
July / August 2026 – 15
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.
Block B Section 49, 11 Wentworth Ave, Kingston ACT 2604
Brought to market by JLL's Dean Faganello and Mitch Frail.
Kingston Quarter presents a rare 21,360sqm mixed-use development opportunity just 100 metres from the Kingston Foreshore. Offering flexibility for residential, hotel, hospitality, retail and commercial outcomes, the site is positioned within one of Canberra's most vibrant waterfront precincts. With established amenity, strong connectivity and significant planning flexibility, the opportunity provides the foundation for a landmark mixed-use destination.
16 – July / August 2026
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