We are proud to present to you the May edition of RWC’s Portfolio magazine.
It’s been a huge month for RWC across the country. I want to congratulate RWC Burleigh Group agents Ryan Langham and Nathan Huxham on the sale of the North Star Holiday Resort, which broke the sales record previously set by the Cairns Coconut Resort, which sold for $50 million in 2017. I would also like the congratulate RWC Medical agents Franz Stapelberg, Chris Meyer, and Jess Meyer, on the sale of 20 Nellie Street, Nundah which sold for $51.25 million. Finally, I would like to congratulate RWC WA agent Brett Wilkins on the sale of 223 - 225 & 227 Murray Street Mall which sold for $35.25 million.
In this edition of Portfolio magazine, Ray White Head of Research Vanessa Rader discusses the latest RLB crane data, which shows crane numbers are at the second highest level on record.
RWC Property Management Business Development Executive Leteicha Wilson shared her thoughts on the importance of collaboration between a business’ sales and property management teams.
We also recap the April Between the Lines Live webinar, in which Vanessa was joined by RWC Eastern Suburbs managing director, Zorick Toltsan and RWC Sydney North director, Scott Stephens to discuss the high-street retail market. The next Between the Lines Live webinar will be held on May 15 and will feature Ray White Special Projects Director Mark Creevey and Ash Forbes from Ray White Valuations who will discuss south east Queensland land supply and residential development market.
James Linacre Head of Commercial RWC Australia and New Zealand
VANESSA RADER
Ray White Head of Research
THE RLB CRANE INDEX HAS BEEN RELEASED FOR Q1 2024 AND IS SHOWING STABLE YET HIGH RESULTS IN CRANE NUMBERS ACROSS BOTH RESIDENTIAL AND NON-RESIDENTIAL PROPERTY TYPES.
The current national index of 204 is the second highest rate recorded since the survey’s inception in 2015 and represents 869 cranes, with 540 representing residential projects and 329 across commercial asset types.
The high signals a rebound in confidence for construction across the country with urgency surrounding residential and mixed-use developments moving ahead of other non-residential developments. Civil projects also feature highly with investment into infrastructure across the country, however, many commercial projects are coming to an end and limited new developments are in the pipeline until occupancy levels improve.
Greater Sydney (including Central Coast) remains home to the greatest activity with 402 cranes across the skyline, aligning with strong population growth for the state. Over the last six months this region has seen 108 cranes removed and 100 new cranes erected resulting in a net decrease, although accounting for 46.3 per cent all crane activity in Australia. The greatest number is located in Sydney’s North with an increase in mixed-use developments and strong residential activity in suburbs like Macquarie Park. Sydney’s West is also busy with 31 new cranes erected for both residential and non-residential projects including Western Sydney Airport, Kemps Creek and Tallawong Village. Cranes are now seen in 35 suburbs across the western
suburbs. While residential developments dominate greater Sydney activity, an increase in commercial, data centres, hotels and mixed-use developments has also been recorded. Greater Melbourne and its 194 cranes represent 22.3 per cent of activity across the country. During this period we have seen strong net increases across a number of types of developments including residential (up 13), civil (up nine) and mixed-use (up five), while some non-residential projects have come to an end with commercial cranes down by six with little scope for this to increase given high vacancies recorded across Melbourne office markets.
The high population zone of south east Queensland continues to be the third greatest location for cranes representing 17.8 per cent of activity. However, this period we have seen a reduction in crane numbers across some regions, with Brisbane down seven cranes to 78, Sunshine Coast down six to 16 as projects come to an end, while the Gold Coast remained stable at 16 cranes. The greatest number of cranes, however, remain for residential developments followed by civil projects, unsurprising given the huge investment into infrastructure in the region. For Brisbane and Gold Coast there has been an increase in cranes erected for health developments. Commercial cranes have come down across Brisbane but have popped up on the Gold Coast, while the Sunshine Coast is home to only residential cranes with no non-residential cranes recorded.
Across most other markets, crane numbers have fallen, Perth down by five to 45, with 66.7 per cent representing residential projects. Seventeen new cranes have been erected this period, however, 22 were removed with aged care, education, hotel, and mixed-use all growing their activity. Canberra was one of the markets who had seen an increase in numbers, while 11 were removed this period, an additional 16 have been added to total 26 active cranes on the skyline with growth in commercial and data centres and education projects.
MORE THAN 120 PEOPLE TUNED IN TO RWC’S APRIL BETWEEN THE LINES LIVE WEBINAR TODAY, WHERE A PANEL OF EXPERTS DISCUSSED SYDNEY’S HIGH STREET RETAIL.
Mr Toltsan is focused on retail sales and leasing in suburbs including Bondi Beach, Double Bay, Rose Bay, Woollahra and Paddington; while Mr Stephens is based in Mosman but covers areas from Manly through to Lane Cove.
Ms Rader said a lot of retail precincts had turned away from clothing and soft goods offerings, but high streets on the north shore and the eastern suburbs had bucked that trend.
“There’s always been some distinct use groups in Military Road,” Mr Stephens said.
“There’s a really strong mix of fashion retailers with a lot of the Australian designers there, and more wanting to get in, we just don’t have enough shops.”
Mr Toltsan said he’d seen a similar pattern in the eastern suburbs.
“A lot of emerging fashion businesses who have built successful online businesses are now wanting to set up flagship retail stores in the areas where most of their customers are based, but there isn’t much availability in the Bondi Beach, Double Bay, Woollahra and Paddington retail precincts which is holding and potentially increasing market rents,” he said.
“It’s mostly Aussie fashion and jewellery designers as the international luxury brands are usually in Westfield and high street Sydney CBD
due to the location and size of properties available.”
Ms Rader said food offerings were also a growing trend in many retail strips.
“We have continued interest from cafe and restaurant operators, bars, and a lot of health food concepts like salads, acai bowls, and poke bowl,” Mr Toltsan said.
“Bars and restaurants will always want to expand, they might say they want a location in Bondi, a location in the CBD, and a location in Mosman.”
Mr Stephens said some retail strips on the north shore had grown their food offering, while others hadn’t.
“Willoughby Rd in Crows Nest is a real food hub. We’ve just leased to El Jannah, an Australian family owned fast food restaurant chain that specialises in Lebanese cuisine, with their first north shore location being in Crows Nest.
“There’s probably 50 food choices on that strip.
“Surprisingly there’s less food offerings in Mosman, but there are some cafes.”
The panel of experts said Sydney’s high streets had held up well in the post-covid world.
“Through covid we handled it really well on the north shore, and when it was over people wanted to be out in the open air, and that’s where the high-street benefitted big time,” Mr Stephens said.
“What holds Mosman in good stead is we have Chatswood, the CBD, the local mall, but there isn’t really a big shopping centre. So it’s really helped the high-street.
“I live where I work, and as a local consumer it’s lovely to have that on my doorstep.”
Mr Toltsan said Oxford Street had gone through a significant transformation over the last 5-10 years due to being sandwiched
between the Westfield CBD and Westfield Bondi Junction.
“The big factor in Paddington’s change has been Justin Hemmes who has brought a lot of vibrancy and activity to the area,” he said.
“People like the experience of a shopping village rather than a shopping centre, they love having the experience of the cafes and the open air.
Both Mr Stephens and Mr Toltsan said their markets were quite tightly held, with many generational assets.
“This year, more so than previously, after the Christmas break, there’s a lot of people talking about selling, maybe part of some sort of generational thing,” Mr Stephens said.
“I’ve just launched which is selling for the second time in 100 years, which is the definition of tightly held.
“With vacancy like it is, people don’t want to let go of a good thing.”
Mr Toltsan said it was a very similar story in the eastern suburbs, with many assets being held generationally.
“There’s generally very little debt on these properties so these property owners are sitting on double digit returns so there’s no reason for them to sell,” he said.
“Things that are moving are properties which are vacant and being acquired by owner occupiers who naturally can pay a premium as well as the highly popular block of units sector.”
LETEICHA WILSON RWC Property Management Business Development Executive
IN THE FAST-PACED WORLD OF COMMERCIAL REAL ESTATE, SUCCESS HINGES NOT ONLY ON INDIVIDUAL EXPERTISE BUT ALSO ON THE SEAMLESS COLLABORATION AND SYNERGY AMONG DIFFERENT DEPARTMENTS WITHIN AN AGENCY.
Leasing, sales, and property management functions should not operate in isolation; instead, they should work in harmony to deliver exceptional service and value to clients. Yet, all too often, these departments function as silos, leading to communication breakdowns, inefficiencies, and diminished client satisfaction.
When departments within a commercial real estate business operate independently, without effective communication and collaboration, several pitfalls emerge. Siloed operations can result in duplicated efforts, missed opportunities, and conflicting priorities. In addition, the lack of coordination often leads to a disjointed client experience, with clients receiving fragmented service and inconsistent messaging. Ultimately, this can erode trust and undermine the reputation of the agency in the marketplace.
In contrast, commercial real estate businesses that prioritise synergy among their departments gain a significant competitive advantage. By fostering a culture of collaboration and integration, these businesses create a unified front that enhances client satisfaction, drives operational efficiency, and unlocks new opportunities for growth because the customer is their number one priority. When leasing, sales, and property management teams work together seamlessly, they can leverage their collective expertise to deliver comprehensive solutions tailored to the unique needs of each client.
As a commercial real estate owner, your investment deserves the highest level of service and attention. Yet, in an industry
where departments often operate in silos, the question arises: is your real estate team truly working for you?
Effective collaboration among leasing, sales, and property management departments is paramount to maximising the value and performance of your assets. When these teams work in synergy, they can leverage their collective expertise to provide comprehensive solutions tailored to your unique needs and objectives.
After all, in the competitive landscape of commercial real estate, the strength of your team can make all the difference in maximising the value and success of your assets.
RWC manages properties across all asset classes right across Australia. Take a look at some of our top managements from across the nation. RWC will have a management specialist located right near your property, so enquire with us today.
HABERFIELD, NSW
Purpose built showroom and storage for the motor trade, leased to BYD, a leading global player in new energy vehicles
WYNNUM, QLD
With enviable bay and city views, this five-storey landmark building includes convenient lift access, amenities and kitchen nooks located on each floor, disabled/PWD amenities and a popular cafe on the ground floor
SPRINGFIELD, QLD
1,107m2* of a new single level development occupied by Club Lime, with 21 dedicated on-grade car parks, over a new 7 year triple net lease
BANYO, QLD
A commanding M1 frontage 5,371m2* site, with a 3,418m2* GLA, leased to a new long term tenant
Holding rental income $2480* per/week
Stone's throw from Aston Martin & Land Rover
Medium density residential zoning
North facing block potential for 53* units (STCA)
2* minutes to Southport CBD, Broadwater Parklands
Close approximately to Hospitals & Schools
176 James Street, South Toowoomba, 4350
Expressions Of Interest
Land Area: 1,507 square metres*
Floor Area: 1,156 square metres*
Seize the moment at 176 James Street, South Toowoomba - a unique opportunity that promises immediate and remarkable business success. This modern edifice, recently unveiled, is strategically positioned on a 1,507sqm* plot at the heart of a hightraffic corridor, offering an unmatched blend of visibility and connectivity.
•Ideal retail / warehouse / workshop with multiple uses
•820sqm* GFA
•132sqm* office (mezzanine floor)
•204sqm* storage / parking
•Tilt-frame 2 levels
•16 car parks - 8 undercover
•Excellent signage options
•'Mixed Use' Zoning
Peter Marks
0400 111 952
peter.marks@raywhite.com
Brian Doyle 0434 551 628 brian.doyle@raywhite.com
RWC Toowoomba
raywhitecommercial.com
617-619 Ruthven Street, Toowoomba City, 4350 Sale Contact Agent
Land Area: 1,327 square metres*
Floor Area: 1,724 square metres*
•Commanding building presence on major arterial road
•1,327sqm* 'Mixed Use' zoned parcel over 2 lots
•1,724sqm* building footprint over 3 main levels (with lift access) plus basement & loft
•Professional offices features reception, waiting, 5 meeting rooms, large boardroom, 24 offices, open-plan work areas and storage
•Lunchroom & M/F toilets to all main levels
•Includes 25 on-site external car parks with rear access off Mann Street
•Vacated in preparation for new business operation
•Inspections recommended to appreciate
•Submitting all offers for consideration
RWC Toowoomba Craig Bradley 0488 075 167 craig.bradley@raywhite.com
Passing rent $77,681pa*^ + GST + Outgoings
Current lease expires 31/1/2027
Two (2) further five (5) year options to 2037
3% annual increases
Dominant 1,180m2* site, zoned 'Principal Centre'
Impressive professional office fit-out.
InvestBlue: High profile national financial planning firm
205 Aumuller Street, Bungalow, 4870
RWC Cairns brings to the market a recently refurbished modified twolevel Queenslander-style building. It offers a well-positioned mixeduse commercial property of professional office accommodation across ground and upper floors.
Situated in an absolute prime location it is ideal for owner occupation or tenanted investment.
Features:
551sqm land
200sqm approximately NLA office accommodation over both levels 36sqm rear storage shed
Mixed Use zoning
Six off-street car parks, double carport and on-street parking Excellent natural light and air conditioned throughout
Sale Offers over $645,000
Helen Crossley 0412 772 882
helen.crossley@raywhite.com
Grant Timmins 0422 534 044 grant.timmins@raywhite.com
RWC Cairns
Shop 1/304-308 Mulgrave Road, Westcourt, 4870
Excellent retail opportunity 162sqm
Located in the heart of Cairns in Westcourt, a 162sqm retail shop on Mulgrave Road is available for lease. The tenancy features excellent visibility with large windows and glass doors, allowing for ample natural light and highly visible retail displays. The building has 25 parking spaces available both on and off-street. The complex has two street access on Mulgrave and Lyons, which cater to over 35,000 daily commuters.
The shop is situated on the corner of Mulgrave and Lyons Street opposite DFO, providing high exposure.
Available for inspection now - In person or video walkthrough.
Lease
$70,000 pa Gross + GST
RWC Cairns
raywhitecommercial.com
Helen Crossley 0412 772 882 helen.crossley@raywhite.com
Grant Timmins 0422 534 044 grant.timmins@raywhite.com
365 Saint Pauls Terrace, Fortitude Valley, 4006
Ground Floor of prestigious Coterie Apartments
Access to a customer base of 1200+ apartments
Total of 613sqm is divided into two titles
Main level 432sqm with historical bakers kitchen
Ample storage and large cold room
Auction 114sqm mezzanine level for exclusive functions Irresistible restaurant space in the
Grant Turner 0457766812 grant.turner@raywhite.com
Christine Freney 0417 757 645 christine.freney@raywhite.com
RWC CSR
raywhitecommercial.com
148-152 Main Street, Kawungan, 4655
LFR Opportunity - approx. 2000m2 NLA (could be split into two)
Fronting the iconic Main Street
Epicentre of Hervey Bay's commercial and retail activity
Alongside industry giants like Bunnings, Repco, Sydney Tools
Auction
Grant Turner 0457766812 grant.turner@raywhite.com
Julie Ryan julie.ryan@raywhite.com
Anchored by Viva Leisure
Franz Stapelberg 0430655676 franz.stapelberg@raywhite.com
Chris Meyer (+61) 422585357 chris.meyer@raywhite.com
•All 4 tenants with long term leases
• Current net income - $451,280.04 PA Net + GST + Outgoings
• Building area - 377sqm
• Land area - 4,588sqm
• 1193sqm of vacant land ideal for car wash and extra income
• Low site coverage with value add or redevelopment potential
• Fully leased multi-tenanted investment
• Anchored by Metro Petroleum
• 13,000 Approx daily passing traffic
Springwood
•Total area - 415sqm
• 3 Phase power
• On-site parking
• Own Male and Female amenities
• Freshly painted floor
• Outgoings -$14,691 approximately
• Just minutes to the M1 and major arterial roads • Walking distance to train station, busway and major shopping centres
784
•
•
•
• Corporate
David
0448
2 Birch Place, Kirrawee, 2232
Auction On-site, Saturday 11 May at 2:30pm (AEST)
Site Area - 897.1sqm* | Total GFA - 491.7sqm*
Zoning - R2: Low Density Residential
Current rental income -$870 per week
Existing improvements: 4 bed, 2 bath, garage and shed
680m* to Princes Highway
2 street frontages RWC SC
1km* to Kirrawee Station
Samuel Hadgelias 0480 010 341
Liam Regan 0488 542 600
Matt Debreczeni 0407 204 599
raywhitecommercial.com
Four car spaces and visitor parking available
Good vehicle/delivery access for entry/exit and turning
E3 Productivity Support zoning Well known modern industrial estate
Total building area of 264sqm* over two levels
Site area of 224sqm*
33m* of corner street frontage
National brand, Vodafone, occupying the retail premises
Well-established local solicitor occupying the first floor
Ideally positioned in the centre of Neutral Bay Village
Gross Income of $132,611 per annum + GST*
Sydney
Key property highlights:
•Building area 400sqm*
•1 secure car space
•B-grade building and three lifts servicing the whole floor
•Ample natural light with views overlooking Sydney Tower Eye
•Modern and stylish CBD building
•Fully fitted and operating as an educational venue
•Well-structured and flexible floor plan
•Multiple rooms and office cubicles
•Ducted air-conditioning system and common bathroom amenities
•Provision for security system
26-30 Parkes Street,
Harris Park, 2150 Expressions Of Interest
Closing Wednesday 29 May 2024 at 3:00pm
•Site Area of 1,494sqm*
•Corner allotment with dual street frontages
•Zoned MU1 Mixed Use
•FSR 10:1
•Suitable for build to rent (BTR), student accommodation, Commercial, Retail & Commercial developments^
•Set to benefit from substantial infrastructure upgrades including Metro & Light Rail
•300m* to Robin Thomas Light Rail Stop
•700m* to Parramatta Railway Station, Parramatta Square & Westfield
•750m* to Western Sydney Parramatta City Campus
Vines 0449 857 100
Sheu 0412 301 582
raywhitecommercial.com
49 & 53 Cutler Road, Jandakot, 6164
Expressions Of Interest
Closing 22 May 2024 at 4pm AWST
Expansive 4.73ha* property
Mixed Business and Industrial Zoning
Frontage to Armadale Rd, Verde Dr and Cutler Rd
Unmatched location adjacent to future Perth Surf Park
Close to Jandakot Airport and Kwinana Freeway
Versatile development options
Relatively flat throughout
Lachlan Burrows 0499 552 296
Michael Danagher 0403 049 989
Tom Jones 0478 771 117
RWC WA
raywhitecommercial.com
Excellent connectivity to freeways
57% occupied, potential owner occupation, good holding
NLA 2,216m2* plus 33 secure carbays
Land zoned Commercial, build seven storeys (STCA)
Corner site of 2,479m2* with three street frontages
Receivers and managers appointed
andrew.woodley-page@raywhite.com
11 East Parade, East Perth, 6004
Two level freehold commercial building
Building area 953m2*
Land area 1,183m2*
Short-term holding income $150,000pa*
Ability to owner occupy part or whole of premise
Zoning allows development of 2:1 over four levels
Opportunity to reposition the asset
Expressions Of Interest
Closing 9 May 2024 at 4pm (AWST)
RWC WA
raywhitecommercial.com
Cnr Peelwood Parade & Mahogany Drive, Halls Head, 6210
Luke Pavlos 0408 823 823 luke.pavlos@raywhite.com
Brett Wilkins 0478 611 168 brett.wilkins@raywhite.com
Fully leased medical centre with WALE by Area of 6.88 years
Underpinned by operator with 80+ locations nationwide
Seven specialist medical buildings over seven lots, NLA 1,871m2*
5,957m2* site with three street frontages
Leased to Modern Medical Clinics, Clinipath Pathology and Pharmacy
All tenants have two 5 year options for further lease security
Net passing income $1,383,638pa*
Expressions Of Interest
Closing 8 May 2024
WA
Andrew Woodley-Page 0438939869 andrew.woodley-page@raywhite.com
Brett Wilkins 0478 611 168 brett.wilkins@raywhite.com
233 Lester Avenue, Geraldton,
Situated on a substantial 6,035m2* land area
Two street frontages and 84* car bays
Fully leased medical centre with WALE by Area of 7.59 years
Two stand alone adjacent buildings with a total NLA of 1,879m2*
Leased to Panaceum Medical Group, serving Geraldton since 1952
Multidisciplinary healthcare team
Net Passing Income $834,642pa*
Expressions Of Interest
Closing 8 May 2024
Andrew Woodley-Page 0438939869 andrew.woodley-page@raywhite.com
Brett Wilkins 0478 611 168 brett.wilkins@raywhite.com
WA
144 Carrington Street, O'Connor, 6163
Land area: 4.29 hectares*
Three street frontage
Rare infill opportunity
Great connectivity via Leach Highway or South Street
5km* from Fremantle Port
The property offers a multitude of development options
Zoned Industrial under the City of Fremantle LPS No. 4
Expressions Of Interest
Closing 22 May 2024 at 1pm (AWST)
Brett Wilkins 0478 611 168 brett.wilkins@raywhite.com
Stephen Harrison 0421 622 777 stephen.harrison@raywhite.com
Immaculate 500sqm* purpose-built health clinic
Substantial 1,900sqm* landholding
Net Income of $259,702 pa* + GST
Fixed 3.5% annual rent increases ensure growth
Secure tenancy with a five-year lease to January 2028
Two further five-year options extending to 2038
Leading healthcare provider serving the community for over 30 yrs
Expressions Of Interest
RWC Glen Waverley
Ryan Trickey 0400 380 438 ryan.trickey@raywhite.com
Will Jonas 0422 883 011 will.jonas@raywhite.com
32-34 Riddell Road, Wantirna South, 3152
Desirable corner position circa 2,090m2*
Multiple uses for the site (STCA)
Building Area 370sqm*
Car Parking for 23 cars + doctor parking at front
Operational for 40+ years Auction 16 May 2024 at 1pm Offered with Vacant Possession
Will Jonas 0422 883 011 will.jonas@raywhite.com Hard to find Neighbourhood Residential Zone (NRZ)
Glen Waverley
Ryan Trickey 0400 380 438 ryan.trickey@raywhite.com
9/536 Clayton Road, Clayton South, 3169
•Total building area | 200m2*
•Includes first floor office & kitchen | 80m2*
•Further bonus mezz / storage area | 76m2*
•Internal warehouse clearance up to 8.5m*
•Electric roller door
•2x split systems & 3 phase power
•Amenities | 2x kitchenettes & disabled toilet
•Four (4) car spaces on-title
•Vacant Possession
•Industrial 1 Zone (IN1Z)
Auction On-site and Online
Friday 10 May 2024 at 11:00 am
RWC Oakleigh raywhitecommercial.com
George Ganavas 0478 634 562
Anthony Anastopoulos 0488 095 057
2 Kingston Town Close, Oakleigh, 3166
•Only 15%* site coverage
•Industrial land holding | 1,698m2*
•Total building area | 500m2* over two levels
•Renewed 5 Year Lease (1st June 2024)
•Current Rental | $137,312 p/a net*
•Substantial works undertaken by Landlord
•Upgraded heating / cooling units
•High quality fit-out with amenities
•Tenant has multiple showroom locations
•Circa 28 car spaces on-site
•Easy access to major arterial roads
•Industrial 1 Zone (IN1Z)
Auction On-site and Online
Wednesday 8 May 2024 at 11:00 am.
RWC Oakleigh
Theo Karkanis 0431 391 035
George Kelepouris 0425 798 677
George Ganavas 0478 634 562
*Approx
