logistics

Amazon Australia will open its first dedicated sort centre in Craigieburn, Melbourne in time for the busy festive season as the demand for last mile logistics properties grows.

Sydney property group VIMG has paid $21.45m for the former Big W distribution centre in Monarto, and has started its search for tenants to occupy the mammoth 65,000sq m facility.

After a record-breaking 2021, the industrial property sector is set for another bumper year as the pandemic accelerates the take up of online shopping.

The NashCap team is banking that big things will grow from the little properties they are buying up.

Stockland has signalled it will forge much deeper into the logistics property market and is working on a $2bn industrial precinct in Melbourne’s west.

Asian investors are ploughing $600m into core assets around the country.

Property mega deals are back. The commercial property market has come through the pandemic with wheeling and dealing back in vogue even in virtual meeting rooms. Australia’s commercial property market has more than survived the searing worst of the pandemic and close to $17bn worth of assets traded in a busy first half.

Property funds group Charter Hall has swooped on a major logistics portfolio, picking up a 25-strong warehouse network from the Smith family’s PFD Food Services, in which Woolworths is taking a controlling stake.

The housing market could shift into under-supply in growth corridors around major cities in coming years, according to the country’s largest residential developer, Stockland.