An off-market Byron Bay land flip has delivered Queensland developer Graya a substantial windfall, while expanding a Chemist Warehouse-linked family’s footprint along one of Australia’s most tightly held beachfront strips.

Damien Gance and wife Sasha Robertson have paid about $20 million for a vacant Belongil Beach parcel adjoining the property they acquired in February for $33.5 million.

The purchase lifts the couple’s holding from 2097 square metres to c3200sqm.

The parcel will be subdivided out of a 2022 sqm parcel Graya bought from developer Adam Garrison in 2023 for $20.65m.

Graya, led by brothers Rob and Andrew Gray, only settled in February.

Two dwellings are expected on the balance.

Family buying spree

Mr Gance and Ms Robertson bought Malia from property developer and investor David Kingston and interior designer Tamsin Johnson.

Settlement records reported at the time indicated the purchase was completed without debt (continues below).

Mr Gance is a pharmacist, Chemist Warehouse director and son of co-founder Sam Gance.

Together with Ms Robertson, he controls a substantial pharmacy portfolio.

The Byron Bay purchases coincide with a series of high-value residential acquisitions by members of the wider Gance family.

Last year, Mr Gance’s uncle, Chemist Warehouse co-founder Jack Gance, and wife Evelynne secured neighbouring Lansell Road properties in Toorak for more than $80m.

The combined 6336sqm holding was acquired from V-Leader founder Andy Zhang and wife Miaomiao Zhang and is expected to be redeveloped as a single estate.

In 2021, Sam Gance paid $43m for a contemporary mansion on a 3330sqm Lansell Road parcel diagonally adjacent the holdings later acquired by Jack.

That property was sold by Mark Healey, son of British billionaire Eddie, and his wife Kelly.

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A prominent block, vacant since the start of construction of the Gold Coast light rail project 16 years ago, is being released by the Crisafulli government as it moves to unlock under-utilised state-owned sites for housing.

The 5420 square metre parcel on Scarborough Street, Southport, opposite the Southport Priority Development Area, is expected to accommodate a mixed-use project with c300 apartments.

The state this week called for private sector proposals.

Releasing under-utilised and redundant sites was a pledge by the Liberal National Party ahead of its decisive 2024 election win.

Last October it appointed a developer for a $100m mixed-use project containing 27 dwellings, an 18-berth marina and food and drink precinct at The Spit.

Another Scarborough Street project

The Scarborough St holding was acquired and cleared during construction of the original G: Link light rail route, which opened in 2014.

It is also walking distance to Griffith University and the Gold Coast Health and Knowledge Precinct with the Gold Coast University Hospital and near Carey Park, the proposed site of the Gold Coast Arena indoor entertainment venue

Under the campaign, developers are invited to deliver a residential-based mixed-use project (continues below).

Elsewhere in the street – at #5-9 – the state’s Department of Housing and Public Works is building a 26 level public housing complex with 200 dwellings.

Canford is also marketing a block beside that (#13) – permit ready for two towers, the tallest, 66 levels.

Another Southport sale

The listing comes six months since realestatesource.com.au reported Strada Group, led by Scott Barlow and the major owner of Sydney Football Club, banked $44.7m for a Southport office on 4773 sqm in the Southbank Priority Development Area.

Also recently in the suburb, Autosport Group Limited bought an 8785 sqm parcel for a Mercedes-Benz dealership while the office and studio home to radio station Hot Tomato 102.9 traded between investors.

Southport is about seven kilometres north of Surfers Paradise.

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Blackfox Property has added another Perth industrial asset to its portfolio.

The Sydney-based investment house founded by Marc Schwartz has paid $35.95 million for 146 Maddington Road, Maddington.

CapPru – or Capital Presidential – was the seller.

It also developed the 15,370 square metre office/warehouse two years ago.

The sale reflect a 6.42 per cent net passing yield.

The market yield is 7.03pc.

Blackfox builds portfolio

On 3.14 hectares, the Maddington property is leased to ASX-listed gold producer Westgold Resources and logistics operator EWE Global Logistics (continues below).

The weighted average lease expiry is 6.5 years.

The deal comes 14 months since realestatesource.com.au reported Blackfox bought a Landsdale industrial investment with a leaseback from transport operator Kelsian Group.

That outlay was $7.38m.

Outside of Western Australia the group has recently bought a warehouse in Newcastle (for $34.25m) and two Toowoomba retail assets ($27m).

Colliers’ Sean Thomson and Gavin Bishop with Cushman and Wakefield’s Nick Goodridge and Tony Iuliano marketed 146 Maddington Rd.

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Modscape has committed to a larger Queensland manufacturing facility.

The modular building manufacturer and sister company Modbotics has committed to a 20,918 square metre complex within the Vantage Yatala estate at Stapylton, about half way between Brisbane and the Gold Coast.

The initial lease term is 15 years.

Frasers Property Industrial will deliver it.

With the deal, 85 per cent of the 65 hectare Yatala estate is leased.

Modscape is already a tenant-client having moved into a 12,868 sqm complex at Archerfield in 2024.

The group deals in residential, commercial, education and healthcare sectors.

Modscape signs lease deal

The Yatala facility will be for manufacturing, storage and distribution, with heavy duty load bearing floors capable of accommodating specialised robotics (continues below).

FPI Queensland general manager Troy Whalan said industrial facilities were increasingly being designed to accommodate sophisticated production operations.

“Industrial facilities are increasingly supporting sophisticated manufacturing and production operations, requiring specialised building design and infrastructure,” he added.

Modscape and Modbotics chief executive, director and co-founder, Jan Gyrn, described the project as a significant step in the company’s Queensland growth strategy.

“This facility marks an important milestone for Modscape + Modbotics and reflects our ongoing commitment to Queensland, which has been central to our growth,” he added.

“Vantage Yatala gives us the scale, flexibility and strategic location to meet rising customer demand while continuing to deliver innovative, sustainable modular construction across Australia,” according to the executive.

The deal comes three years since realestatesource.com.au reported the group upsized its accommodation in Melbourne – where it is headquartered – to a 37,500 sqm facility at Essendon Fields (20,000 sqm being undercover and 6000 sqm for Modbotics).

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The Swatch Group has leased another space in Melbourne’s Collins Street – this time for one of its luxury brands.

Australia’s first Rado Boutique, as it will be known, will replace the former Bovet store at #298, one building east of Elizabeth.

Pascal Raffy’s Bovet committed in 2023; it was that luxury watchmaker’s maiden Australian store too.

Ashley Jewellers and shoe shop Lloyds have also in recent years rented the property.

Prior to 2012 the tenancy was occupied by Watches of Switzerland which is now next door.

Allard & Shelton’s Joe Walton was the agent.

Previous marketing campaigns prevented food and beverage operators.

Maiden Australian Rado store

Spanning 68 square metres with a mezzanine, the Rado store has 5.6 metres of Collins St frontage (continues below).

TAG Heuer, Grand Seiko and Tiffany & Co are in the immediate area.

So too is Swatch which two years ago opened a flagship store at 260 Collins St.

The Swatch Group is the world’s biggest watch manufacturer, also holding brands Omega, Longines, Tissot and Blancpain.

The Rado comes a week since realestatesource.com.au reported another Swiss-based luxury watchmaker, Patek Philippe, leased a historic building at 120 Collins St.

In 2021, meanwhile, The Hour Glass outlaid $35m for a strata retail space also on the strip, at #181.

That group also owns – and occupies for its various brands – the historic Kodak House at #252.

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Coles has sold an Upper North Shore retail property after 20 years.

The part vacant Turramurra Arcade at 1259 Pacific Highway traded for $6 million.

The buyer is a private investor.

The 677 square metre E1 Local Centre zoned site was marketed for its development upside.

Coles paid $4.6m.

Turramurra Arcade

Turramurra Arcade contains 384 sqm configured as five tenancies – three of which are vacant – and five basement car parks.

The site connects to Gilroy Lane and a public car park.

It is also about 100 metres from the suburb’s train station.

“The property’s income can be improved via a revitalisation of the retail arcade and a solid leasing campaign to fill the vacant tenancies,” Knight Frank marketing agents Jeff Moxham and Joshua Baruch (continues below).

The deal comes five months since realestatesource.com.au reported Coles bought the outgoing Leo’s Supermarket in Melbourne’s Glen Iris, to occupy.

That asset set it back $33.25 million after an off-market deal.

Also in the Victorian capital the group recently bought a Hampton service station to extend store.

That property cost $10m again off-market.

Meanwhile in February it acquired a site in a south west Brisbane housing estate.

Coles has also sold recently a shopping centre on the Gold Coast this year.

Turramurra is 17 kilometres north west of the CBD.

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The inner-city site once set for Crown Group’s first Melbourne apartment project has sold.

The 2076 square metre parcel, 175-187 Sturt Street, at the south east corner of Miles – opposite Melbourne’s Arts Precinct – in Southbak, is understood to have collected about $16 million.

The buyer is Ashley Williams’ Evolve Development.

That builder is completing another residential project in the street, Aria, at #131-139, with 183 units over 18 levels (that site, in 2015, was earmarked for a 42 storey apartment building by previous owners – a consortium including the Cystic Fibrosis Association of Victoria).

175-187 Sturt St previously sold nine years ago for $15.5m.

Both blocks are opposite the now-shelved ‘Central Park’ themed elevated garden over freeway entrances and overpasses.

Between them is 141-151 Sturt St – which Cedar Woods is seeking to replace with a 20 level building with 180 apartments.

Crown Group entered provisional liquidation in 2023 after a public falling-out between founders Iwan Sunito and Paul Sathio. Several sites from its portfolio have since sold (continues below).

Evolve buys another Sturt Street block

Crown with G3 Projects in 2017 proposed to replace 175-187 Sturt St with Artis – with 152 units in two 18 level towers over ground floor retail and commercial – penned by Koichi Takada.

Evolve is buying the Capital City 1 zoned block with this permit – for 12,087 sqm of lettable area.

The property presently derives an income from a two level, 1940 sqm office and 24 car parks.

Stonebridge Property Group’s Julian White and Chao Zhang were the agents.

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Centuria has listed two east coast life science investments with almost a decade of contracted income.

In the Monash National Employment and Innovation Cluster – Victoria’s largest employment hub outside of Melbourne’s CBD – the asset manager is offering the laboratory and headquarters of ASX-listed Paragon Care.

On 1.52 hectares at 77-97 Ricketts Road, also abutting the Monash Freeway for 139 metres, the asset includes 7975 square metres in several attached buildings, upgraded in mid-2022.

The warehouse, accessed by 10 roller shutter doors, has a large power supply and crane provision.

There are also 129 car parks.

Paragon occupies 91 per cent on a lease expiring in 2037.

Mount Waverley is about 16 kilometres south east of the CBD.

Sprawling Brisbane site

In Brisbane, Centuria has listed a purpose-built laboratory and research facility fully leased to QML Pathology, which also occupies an office component as its headquarters (continues below).

With two buildings, 11-19 Riverview Place, Murarrie, part of the Metroplex Gateway Estate, contains 9696 sqm.

Across two amalgamated sites spanning 2.38ha, also exposed to Metroplex Avenue, there are 280 car parks too.

The weighted average lease expiry is 9.2 years with a mid-term review at the end of 2030.

Murarrie is eight kilometres east of the CBD, within the Australia TradeCoast precinct, near the Port of Brisbane and Brisbane Airport.

Centuria holds both properties in the c$820m Healthcare Property Fund.

CBRE’s Sandro Peluso and Chris O’Brien with JLL’s Ben Hegerty and Simon Quinn are the agents.

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Japan’s Obayashi Corporation is set to buy Australian-founded Multiplex for up to US$650 million (c$925m) depending on future performance.

Brookfield is the seller.

Through its private equity strategy, the Canadian group held since 2007.

That seller was Perth-based John Roberts who established the company in 1962.

Obayashi recently announced plans to expand in Australia, Canada and the United Kingdom.

“Multiplex is a highly respected contractor with a strong track record of delivering complex, high-quality projects, and we have long admired its technical capabilities and market position,” chief executive, Toshimi Sato, said.

Multiplex sold again

Brookfield paid $4.2 billion for Multiplex after Mr Roberts split the construction business from a property portfolio.

That deal valued the enterprise at c$7.3b including debt.

The Canada group later separated the business into a real estate and facilities management operation.

Multiplex was established as a standalone company within Brookfield Business Corporation in 2016, delivering civic, commercial and residential projects in Australia, Canada and the United Kingdom (continues below).

Locally, it has been challenged by rising material costs, labour shortages and margin pressure.

The parent is reported to have tipped more than $500m to keep the company afloat amid three consecutive loss making years ($56m in 2023, $241m in 2024 and $220m last year).

Obayashi will pay an initial US$530m ($756m).

The balance could come as an earn-out linked to future performance.

“The transaction delivers a strong outcome for our shareholders, demonstrating our ability to continue to recycle capital and support the growth of our business,” Brookfield Private Equity Group chief executive, Anuj Ranjan, said.

“Since acquiring it, we have worked with management to sharpen operational focus, strengthen profitability and reposition the business for its next chapter,” he added.

Multiplex global chief executive John Flecker said the business would continue operating under its existing brand and leadership structure following completion.

“Our operations, projects and brand remain unchanged, and our leadership team will continue to lead the business into its next chapter,” according to the executive.

The deal, subject to regulatory approvals, is expected to be complete in the fourth quarter of this year.

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Goodman Group and its largest property fund are spending about $2.65 billion to acquire interests in industrial property partnerships held by Brickworks.

The deal follows Washington H. Soul Pattinson & Company’s acquisition of the building products giant in September 2025.

Goodman Australia Industrial Partnership, or GAIP, will pay $2.3b.

Goodman will contribute the balance (c$350m).

Settlement is scheduled this month.

BGAI, Oakdale West Trust

The deal includes Brickworks’ 50 per cent interest in the Brickworks Goodman Australia Industrial (BGAI) partnership.

It also includes a half stake in the Oakdale West Trust.

Following settlement, GAIP’s ownership of BGAI increases to 100pc and its holding in Oakdale West to 90pc.

Goodman will hold the balance (10pc) of Oakdale West.

Oakdale East Trust

Separately, Goodman Group is acquiring Brickworks’ remaining 50pc interest in the Oakdale East Trust, which contains development land and projects under construction.

The interests (BGAI, Oakdale West, Oakdale East) form part of an industrial and logistics portfolio established through a Goodman-Brickworks partnership launched in 2005 (continues below).

The assets, predominantly in Sydney, contain approximately 1.3 million square metres of gross lettable area and carry a value exceeding $5b.

Key holdings include the Oakdale Industrial Estate and Erskine Park’s Interlink Distribution Centre (pictured, top) precincts in Western Sydney.

The portfolio also contains the Rochedale Motorway Estate in Brisbane.

Fund grows

GAIP – in which Goodman holds a 30.4pc stake – owns approximately 115 properties.

Following the acquisition, its gross asset value is expected to increase to about $20b.

Chief executive Jason Little said Goodman had managed the assets with Brickworks for many years.

“We know these assets well and have managed them alongside Brickworks for many years,” he added.

“As part of our asset recycling strategy, the transaction demonstrates our ability to redeploy capital into opportunities that support long-term customer demand, while increasing our interest in high-quality assets that are already well integrated into our portfolio,” according to the executive.

The Brickworks Manufacturing Trust is not affected by the transaction and will continue operating under the existing Goodman-Brickworks partnership structure.

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