Issuu

APRIL 2026

PORTFOLIO

TROPHY PERTH TOWER POISED FOR $200M SHOWDOWN (PICTURED: 256 ST GEORGES TERRACE, PERTH)

CAPITAL GROWTH RETURNS TO COMMERCIAL PROPERTY MARKETS

SERVICE STATIONS EMERGE AS CRITICAL INFRASTRUCTURE IN AUSTRALIA’S ELECTRIC TRANSITION

Welcome to the April edition of Portfolio Magazine

James Linacre CEO RWC Australia and New Zealand

There’s no doubt the headlines are a bit noisy at the moment, but when you look a little closer, there are some genuinely encouraging signs emerging across the commercial property market in Australia and New Zealand.

Despite all the noise around interest rates and what’s happening globally, the reality in large segments of the market in Australia and New Zealand feels a lot more constructive.

Pricing has adjusted and has created a level of realism on both sides of the table that we haven’t seen for a few years. All of that pent up capital that we often speak of hasn’t disappeared, it’s just become more selective, which is actually a positive for those running good campaigns and bringing quality assets to market.

Leasing activity is holding up, particularly where there’s genuine demand, and in a lot of sectors we’re

still dealing with a shortage of welllocated, functional stock. When you layer in population growth and ongoing infrastructure spend, there’s a pretty solid base forming. It’s not without its challenges, but it feels to me like a disciplined and believe it or not some what sustainable market and one where buyers can really get on the front foot again and secure assets with a strong value add profile.

We have our bi-annual RWC Auction Showcase coming up for the whole month of June. Please feel free to contact me if you would like to learn about how you can take advantage of thousands of dollars worth of extra marketing, and get in front of the most buoyant buyers in the country.

Have a great month ahead.

Quick jump to a region

The year of the “clever play”

In a market defined by “clever plays” and a shift toward highutility assets, the 2026 Australian commercial property landscape is proving that the era of easy money has been replaced by an era of strategic operations.

According to the latest insights from Vanessa Rader, Ray White’s head of research, and Su-Lin Tan of Green Street News, the narrative for the year ahead is about more than just owning land.

“The lines between commercial and residential investment are expected to blur,” Vanessa Rader explained during the Between the Lines Live session.

“Purpose-built student accommodation, co-living, and modern boarding houses will emerge as legitimate sectors as investors recognise the structural under-supply in housing and the defensive income these assets deliver.”

Reflecting on the volatility of the past year, Su-Lin Tan noted that global factors remain the primary “X-factor” for domestic stability.

“My forecast is entirely dependent on how crazy things get in America!” Su-Lin Tan said. “It all really matters... the more turbulence there is, the more disruption there is to supply chains, and that has repercussions throughout all economies.”

One of the most surprising success stories of 2026 is the resilience of the retail sector. “Retail’s not dead,” Vanessa said. “The combination of constrained supply, steady foot traffic recovery, and rental growth will make retail one of the standout performers in 2026. Neighborhood and convenience-based centers will shine as consumers prioritise local shopping experiences over destination retail.”

The office sector, however, presents a more complex puzzle, with a widening gap between top-tier and lower-grade buildings. “The divergence between premium and secondary office assets will continue to widen dramatically in 2026,” Vanessa said. “Premium grade office buildings with strong

ESG credentials, modern amenities, and prime locations will continue to outperform... while lower quality secondary stock faces genuine obsolescence.”

For those with an appetite for risk, Su-Lin suggested there is still a window for the bold. “If you can manage the risk and you have a play that is slightly different to someone else’s play, there is an opportunity in the office market right now. It’s the ultimate contrarian move.”

Looking at the broader economic picture, the duo noted that the market is watching the Reserve Bank closely. “This year, the consensus is that if interest rates are going to move, they may go upwards, albeit later on in the year,” Vanessa said.

“Inflation numbers are going to be the numbers that everybody looks at super, super carefully -because if someone was going to buy and then the interest rates hike up, that obviously changes the return profile of whatever they were looking to buy.”

Ultimately, the message for 2026 is one of disciplined, selective growth. As Vanessa concluded: “Construction activity will pick up as investors recognise the sector’s recovery is genuine rather than temporary... but projects commencing in 2026 will be well-considered and pre-leased, reflecting a more disciplined approach than previous cycles.”

Rick Silberman joins RWC retail to lead Victorian expansion

RWC Retail has officially launched in Victoria, increasing its national presence with the appointment of Rick Silberman as partner & head of Victoria.

With an established footprint in Queensland and NSW, the move into Melbourne represents what managing director Lachlan O’Keeffe describes as “the natural progression of a business built to outperform.”

“We started our retail careers in Queensland over a decade ago and have built something incredibly strong in the retail space,” Mr O’Keeffe said.

“Two years ago we expanded into New South Wales; Victoria was always the next step. It was also largely driven by necessity as we were receiving a significant volume of enquiries from vendors seeking to list their retail assets in Victoria.

“We recognised the need to appoint a dedicated head of Victoria to lead the team and properly service this important market. The stars aligned in terms of timing, opportunity and finding the right partner.”

That partner is Rick Silberman - one of Victoria’s most accomplished retail investment agents - who joins after a 12year career that has seen him sell shopping centres above the $80 million mark and a plethora of huge retail names including KFCs, Bunnings, Kmart, Woolworths, Coles and Officeworks.

For Mr Silberman, the move was about raising the bar in a market he believes deserves more.

“Victoria has been through a trying period and some challenging times,” Mr Silberman said.

“Despite this, retail has consistently proven to be one of the most sought after asset classes. In both strong and challenging market conditions, national retailers backed by long-term leases remain highly attractive investments.

“Retail can be summed up in one word right now: resilient. Record yields are still being achieved across asset classes, and Melbourne vendors are operating from a position of strength. There’s no reason to settle for average outcomes.”

Mr Silberman’s track record includes the three sharpest fast food yields in Australia, with Red Rooster in Pascoe Vale at a 2.3 per cent yield - a national record, the KFC in Niddrie at 2.4 per cent, and the KFC in Thornbury at 2.77 per cent.

“Some of these fast-food investments traded at sub-3 per cent yields. That’s almost unheard of,” Mr Silberman said. “Those outcomes don’t happen by accident.”

He said one of the earliest conversations with Lachlan O’Keeffe, along with partner & head of Queensland Michael Feltoe ultimately sealed the decision to join.

“The technology and systems really drew me in early on,” Mr Silberman said.

“To be frank, that’s something that’s been lacking elsewhere. Everything had to be manually canvassed. Hearing that RWC Retail achieved 722 enquiries on the Hungry Jack’s Coopers Plains campaignan Australian record - genuinely caught my attention.

“I’ve never heard numbers like that from any campaign. On average they’re generating 300 enquiries per campaign. That’s extraordinary. Record enquiry doesn’t come out of nowhereit comes from systems, databases and cuttingedge marketing.”

Mr Feltoe said that capability sits at the core of the group’s point of difference.

“We simply get more buyers,” he said.

“More enquiry drives more competition. More competition achieves higher prices. It’s that simple.

“Too often we see stock-standard campaigns that don’t give vendors a return on their marketing investment. We are at the absolute cutting edge in how we engage buyers.”

Looking ahead, the leadership team is unapologetically ambitious about what the Victorian launch represents.

“We are here to make Melbourne retail property perform as best as it possibly can,” Mr Silberman said.

Head of commercial at RWC James Linacre said the appointment signals a significant moment for the broader group.

“Rick’s record-breaking performances combined with RWC Retail’s systems and scale creates something that we are excited to watch unfold in Victoria,” Mr Linacre said.

“Rick has made an excellent decision to partner with operators he is well-aligned with and we are thrilled to have him in our group.”

RWC’s top female agent is just getting started

In the high-stakes world of commercial real estate, where the air has historically been thin for women, Emily Pendleton is currently breathing rarefied air.

As the number one topperforming female agent at RWC internationally, Emily has spent the last year shattering the industry’s most persistent myths.

In a sector often described as a boys’ club, where deals are struck on golf courses and success is measured by round-the-clock availability, Emily has just recorded her strongest year to date, achieving over $39 million in sales and leasing value, all while navigating her first seven months of motherhood.

“My biggest achievements have come in the past 12 months,” Emily says, reflecting on a period that would have traditionally been seen as a “career pause.” Instead, she utilised the systems and team she spent years cultivating to maintain an elite level of service while on maternity leave. “Through building the right team and structure, the business has continued to operate exactly as I would want it to. Being able to achieve that level of performance while prioritising motherhood has been incredibly rewarding and is something I’m particularly proud of.”

This record-breaking performance serves as a powerful backdrop for International Women’s Day, proving that the supposed choice between high-octane career success and a fulfilling family life is a false dichotomy. For Emily, real estate was a second language

spoken fluently around the family dinner table long before she ever signed a contract. “I’d always had an interest in property, largely because my family owned real estate and it was something that was constantly discussed,” she said. “It felt familiar and natural to me from a young age.”

Critical to this success has been the environment in which Emily operates. She is quick to point out that individual drive can only go so far without a culture that fosters it, and she credits much of her ability to scale her business to the leadership at RWC Northern Corridor Group.

Under the guidance of Michael Shadforth, Emily found the structural support and psychological safety necessary to thrive during major life transitions. “Leadership sets the tone for everything,” Emily said. “When leaders are willing to call things out, support flexibility, and

genuinely back women, you feel it immediately - the culture shifts and behavior changes.”

For Emily, having a leader like Michael meant that her pregnancy and return to work were met with empathy rather than outdated assumptions. “When they don’t [support women], and poor behaviour is brushed off as ‘just how the industry is,’ it becomes normalised. Culture doesn’t just happen; it’s created by what leaders are willing to challenge or ignore.”

That early exposure blossomed into a career when she entered the industry at just 17 years old. Starting as a receptionist, she spent her formative years learning the business from the ground up - mastering everything from the mechanics of a lease to the nuances of deal strategy - before evolving into an associate agent and eventually stepping out as a standalone powerhouse.

However, the ascent wasn’t without its systemic friction. Emily is candid about the “credibility gap” she faced early on.

“I felt that as a woman I wasn’t automatically afforded the same credibility, so I had to prove myself through consistent results rather than being given the benefit of the doubt,” she said. “Male colleagues were often able to establish trust and momentum more quickly through relationships alone.”

The mental tax of “working twice as hard just to be seen” nearly led her to walk away from the industry more than once. Emily admits she considered leaving because of the exhaustion of breaking into impenetrable networks. “What made me stay was backing myself, surrounding myself with strong women, and realising that if women who are performing at a high level keep leaving, nothing actually changes,” she says.

“I wanted to be someone other women could see and think, ‘okay, it is possible.’”

Today, Emily leads with an authenticity that she once felt pressured to hide. In her earlier years, she moderated her tone and carefully timed personal milestones around market momentum. Now, she views her role as a leader as a platform to shift the industry’s “weather.” She believes that when leaders support flexibility and call out poor behavior, the culture shifts immediately.

“When flexibility is offered with trust rather than judgement, women don’t pull backthey rise to the occasion,” she notes.

As she looks toward the future, Emily’s advice to young women is a call to action: “Just go for it and not be afraid to back yourself. Find a mentor early, ask questions and don’t wait until you feel ready to take opportunities when they come.” She remains a fierce advocate for the next generation, believing that performance-based respect is finally replacing old-school hierarchies.

“I genuinely believe the next generation of leadership will look very different, but only if we keep having honest conversations like this and backing women through all stages of their careers.”

RWC kicks off 2026 with AI, compliance and 18% growth surge

More than 300 members of the RWC network gathered across Brisbane, Sydney and Melbourne for the inaugural RWC Symposium, marking a strong start to 2026 and reinforcing the group’s focus on innovation, compliance and continued growth.

Opening the event, head of commercial James Linacre congratulated the national network on what he described as a phenomenal year, revealing the group is up 18 per cent on transaction value year-on-year.

“These are incredibly healthy numbers,” Mr Linacre said. “Everyone in this room should be really proud.”

He acknowledged standout performers across the country and thanked sponsor RealCommercial, noting that RWC now holds a large percentage of national listings on the platform, dominating the marketplace in many regions.

The headline session was delivered by leading real estate AI specialist Samantha McLean, who provided a high-energy and practical exploration of how artificial intelligence is reshaping the commercial property industry.

“I originally started using ChatGPT to help me with my writing. I thought it might be my own little secret,” Ms McLean said. “But I was wise enough to know what was coming.”

Her session featured live demonstrations of AI-generated headshots, with attendees

taking selfies that produced both hilarious and impressive results, as well as examples of how empty development sites can be visually transformed into fully realised projects using AI tools. She showcased AI-created songs, humorous videos of pets “talking,” and demonstrated how dramatically AI is changing the way people search for and consume information.

“AI is changing the way we search, and it’s changing rapidly,” she said.

Ms McLean highlighted that AI is already being used in ways that overlap with traditional roles.

“In some cases, AI has sometimes replaced, for better or for worse, doctors, personal trainers, HR professionals, lawyers, recipe books and even vets,” she said.

In a powerful moment during her presentation, she revealed she was recording her session in real time.

“I am recording every word that I’m saying right now,” she told the audience. “Every word will be put into Gemini and a summary will be sent. There’s no need to take notes anymore.”

However, she cautioned that rapid advancements have created what she described as significant “AI noise.”

“The earth is constantly moving with AI. It’s changing at light speed,” she said.

Ms McLean walked attendees through what she described as the five stages of disruption - fear, resistance, gradual adoption, transformation, and ultimately “how did we ever live without this?” - sharing that she personally experienced the fear stage when considering the impact of AI on her Elite Agent writing business.

“We are currently at the gradual adoption stage,” she said. “Only one per cent of commercial real estate agencies have no interest in AI. Most agencies aren’t ignoring it - they’re wrestling with implementation.”

She warned against assuming AI automatically delivers efficiency gains.

“We can fall into the trap of feeling like we’re working faster with AI,” she said. “But studies show it can actually make businesses 19 per cent slower if you’re not getting quality outputs.”

Using examples of automated fastfood drive-throughs gone wrong, she illustrated the risks of removing human oversight.

“The failures happen when there is no human in the loop. AI left to its own devices can be very bad news,” she said, also sharing examples of real estate agencies making costly mistakes by relying solely on AIgenerated content without review.

“At the moment, most people are using AI like a freelancer,” she said. “But the real power comes when you use it as a real-time collaborator, for brainstorming, coaching, role-playing and strategy.”

“Last week AI saved me $5,000 by telling me how to set up my SEO instead of paying an agency,” she said.

When assessing a development site on the Gold Coast, she asked Gemini to prepare a 15-page dossier and then generate a personalised podcast briefing.

“You could do this before meeting a potential client; create your own podcast, listen, study and learn everything you need to know,” she said.

Her message to agents was clear: “AI was never meant to be an auto-pilot, it’s meant to be your co-pilot.”

“You don’t want to give up when you’re halfway through your AI journey and not yet fully reaping or understanding the benefits,” she said.

“In the future, you will be AI-enabled and your customer will be AIenabled,” she said. “But it will still be two humans working together. Use AI to make yourself smarterbut remember, being human in a transaction matters. Humans still want to work with other humans.”

The symposium also addressed the critical issue of Anti-Money Laundering reform, with Shaun Doyle, head of compliance at Ray White,

delivering an engaging and practical session on compliance obligations.

“One in four property transactions are being paid for in cash and mortgage-free, which is a statistic the authorities are very interested in,” Mr Doyle said. “Australia is one of the last countries to fully implement these reforms. This is such an important topic, and we are proud to be at the forefront.”

He encouraged every commercial office to begin discussions around appointing a dedicated compliance officer.

“Everyone needs to start having the conversation about who their compliance officer will be,” he said. “This needs to be the go-to person for salespeople to discuss any red flags.”

Mr Doyle said strong compliance frameworks would become a defining feature of leading agencies.

“We want to be known as the absolute leaders in the industry and set the standard,” he said.

He outlined key focus areas including developing internal AML policies, implementing customer due diligence procedures, designing transaction monitoring systems, building reporting processes and establishing robust record-keeping frameworks.

Capital growth returns to commercial property markets

VANESSA RADER Head of Research Ray White Group

The latest PCA/MSCI property returns data for the quarter ending December 2025 reveals encouraging signs of market stabilisation, with capital growth returning across most sectors after two years of adjustment. While all property total returns reached 7.4 per cent nationally, the return of positive capital growth at 2.0 per cent marks a decisive shift from the correction phase that dominated 2023, 2024 and much of 2025.

The retail sector continues its leadership position, delivering total returns of 9.2 per cent driven by capital growth of 3.0 per cent alongside income returns of 6.0 per cent. This performance contrasts sharply with late 2023 when most retail categories remained in negative territory. Sub-regional centres lead the sector at 10.9 per cent total returns with capital growth of 3.9 per cent, while regional centres recorded 10.5 per cent returns. Even super regional and major regional

centres achieved 8.5 per cent, suggesting larger format retail is stabilising after adjustment. Neighbourhood centres posted 8.5 per cent total returns with capital growth of 2.7 per cent, demonstrating the strength of convenience-focused retail.

The consistency of performance across all retail subcategories indicates the sector’s structural recovery is broad-based rather than concentrated in specific property types.

Industrial assets recorded total returns of 8.6 per cent, with capital growth strengthening to 4.1 per cent alongside income returns of 4.3 per cent. While this represents a moderation from the sector’s exceptional 2020-2022 performance, the sustained positive capital movement confirms industrial’s structural advantages remain intact. Distribution facilities and warehouse assets both delivered returns above 8.4 per cent, maintaining the sector’s reputation for balanced total return strategies.

Geographic variations within industrial reveal where the strongest capital growth is occurring. Queensland industrial led with total returns of 10.8 per cent and capital growth of 5.7 per cent, driven by population influx and expanding logistics requirements.

New South Wales industrial recorded total returns of 9.7 per cent with capital growth of 5.6 per cent. Western Australia industrial posted exceptional returns of 10.0 per cent with capital growth of 4.2 per cent, reflecting resource sector strength and supply constraints that continue to attract east coast investors seeking compelling risk-adjusted returns.

Office markets remain under pressure from structural challenges, though notable regional variations reveal how fundamentals are driving dramatically different outcomes. Total returns reached 5.9 per cent, supported by steady income returns of 5.5 per cent, but capital growth remained subdued at just 0.4 per cent nationally. Brisbane CBD office delivered the strongest performance with total returns of 10.6 per cent, driven by capital growth of 4.4 per cent. The combination of vacancy below 11 per cent, pre-committed Olympic infrastructure activity, and limited new supply continues to support valuations in the Queensland capital. Sydney CBD recorded respectable total returns of 7.7 per cent with capital growth returning to positive territory at 2.4 per cent, suggesting premium assets in supplyconstrained markets are finding value support.

Melbourne CBD office remains the notable underperformer with total returns of just 3.8 per cent and capital growth declining by 1.6 per cent. The combination of elevated vacancy rates of 19 per cent, significant new supply in the pipeline, and persistent hybrid work adoption continues to pressure valuations. Melbourne represents the clearest example of how vacancy and oversupply dynamics directly impact capital values. Perth CBD continues its steady recovery with total returns of 2.9 per cent, though capital values declined 2.3 per cent. The city’s construction activity is likely to now stall and gradual improvement in leasing fundamentals position it well for future capital appreciation as the cycle matures.

Western Australia’s performance across asset classes reveals the impact of relative affordability and economic confidence on commercial property. WA retail delivered total returns of 10.2 per cent with capital growth of 3.2 per cent, matching NSW’s performance despite lower absolute pricing. This reflects growing investor recognition that WA markets offer compelling riskadjusted returns. The state’s combination of resource sector strength, controlled supply pipelines, and improving population growth creates conditions that support both rental and capital appreciation.

Premium CBD office has narrowed capital decline to just 0.4 per cent with total returns of 6.0 per cent, suggesting these assets are approaching value stabilisation. Premium Sydney CBD office achieved 8.8 per cent total returns with capital growth of 3.7 per cent, while Premium Brisbane CBD office posted 10.6 per cent returns with 4.4 per cent capital growth. Grade A CBD office recorded 5.9 per cent total returns with capital growth of just 0.3 per cent, indicating the quality gap matters significantly in current market conditions.

The return to positive capital growth validates strategic positioning many investors adopted during the downturn. Those who acquired quality assets at expanded cap rates are now seeing both strong income yields and emerging capital growth, delivering the total return equation that makes commercial property compelling. However, capital growth isn’t returning uniformly across all assets. The data clearly demonstrates quality and positioning matter more than ever, with premium assets in strong sectors achieving meaningful capital appreciation while secondary assets in challenged sectors continue facing value pressure.

The December 2025 data represents more than incremental improvement, it marks the transition from yield adjustment to capital growth. However, upward inflationary pressures on interest rates seen in 2026 may put a dampener on urgency in the marketplace. Despite this, capitalisation rates are likely to remain in their holding pattern, suggesting the return of capital growth reflects genuine improvement in asset fundamentals rather than yield compression alone. For investors seeking to position portfolios for the next growth phase, understanding which specific markets and property types are leading capital growth will be critical to generating superior returns.

Service Stations emerge as critical infrastructure in Australia’s electric transition

VANESSA RADER Head of Research Ray White Group

As Middle East conflict drives petrol prices to an above $2.20 per litre average across Australian cities, the nation’s accelerating shift toward electric vehicles has never been more apparent, with wait times for new EVs stretching to as much as three months. Yet for a growing cohort of drivers unable to charge at home, that shift has thrust service stations into the spotlight for their unexpected role: essential charging infrastructure at the heart of Australia’s energy transition.

Electric vehicle sales reached 13.1 per cent of new car sales in 2025, up from 9.6 per cent the previous year, with more than 157,000 EVs sold including over

103,000 battery electric vehicles, exceeding that milestone for the first time. The total Australian EV fleet now stands at over 454,000. Yet approximately 30 per cent of Australians live in apartments or homes without dedicated parking, creating a fundamental infrastructure gap that service stations are uniquely positioned to fill. Body corporate approval processes, retrofit costs running into tens of thousands of dollars per building, and the technical complexity of upgrading electrical infrastructure in older apartment blocks create structural barriers unlikely to be resolved quickly. With EV sales forecast to reach as much as 19 per cent of new car sales in 2026, the demand for accessible public charging is only set to grow.

This convergence of soaring fuel costs, rapid EV adoption and residential charging constraints has fundamentally altered the investment thesis for service station assets. Far from facing obsolescence in an electric future, these properties have emerged as critical dualpurpose infrastructure, and the transaction market reflected that confidence. Total volume reached $867.9 million across 175 properties in 2025, a 16.5 per cent increase from 2024 and a continuation of the recovery from the trough recorded in 2023, when tighter lending conditions weighed on activity across most commercial

property sectors. While still well below the peaks recorded in 2019 and 2020, the trajectory is encouraging and the buyer composition has broadened, with private investors representing 85.1 per cent of acquisitions alongside listed funds and private syndicates. Average capitalisation rates compressed to 6.0 per cent, albeit can range between 4.0 and 9.0 per cent depending on location and lease covenant, suggesting growing confidence in the sector's long-term viability.

The most valuable service station transactions in 2025 reflected this evolution toward integrated quick service restaurant offerings, demonstrating that investors increasingly value service stations not merely as fuel retail sites but as strategically located properties anchored by quality QSR tenants. Quick service restaurants have emerged as an asset class in their own right, with investors attracted to their predictable cash flows, strong tenant covenants and proven performance through economic cycles. When combined with fuel retail on high-traffic sites, these properties create diversified income streams less dependent on any single revenue source. The presence of established QSR operators like McDonald’s, KFC, Hungry Jack’s and major coffee chains alongside fuel retail has become a key value driver in service station transactions.

The longer dwell times associated with electric vehicle charging, typically 20 to 40 minutes compared to five minutes for fuel stops, create enhanced opportunities for QSR, coffee and convenience retail. Several 2025 transactions specifically highlighted expanded retail

offerings commanding premium valuations, with properties that successfully integrate these elements trading on cap rates as tight as 4.0 per cent for wellpositioned assets featuring quality tenants.

Two consecutive interest rate increases already recorded in 2026 will put some strain on financing conditions, though the depth of the 2025 market suggests the investment case is not rate-dependent. The 175 properties transacted mostly attracted private buyers, with strong activity in Brisbane and Adelaide demonstrating that well-located suburban nodes can attract institutional-quality capital regardless of market size. Service stations occupy prominent main road sites, generate diversified income streams, and are structurally positioned to capture the growing EV charging market as residential solutions remain years away for much of the apartment-dwelling population. The $867.9 million transacted in 2025 reflects investors who have moved well beyond fuel retail alone, viewing these assets instead as necessary urban infrastructure.

Assets under management

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.

CONTACT HERE

RWC ASSET MANAGEMENT (QLD)

UPPER COOMERA, QLD

This impressive new 549 sqm* large format retail asset, completed in 2023, features an expansive retail showroom and mezzanine floor with a long term lease in place to 99 Bikes.

RWC SYDNEY NORTH

BOX HILL, NSW

Coles anchored shopping centre with Aldi as the mini-major and over 30 specialty tenants.

RWC BALLARAT

DELACOMBE, VIC

A well-presented triple-tenancy commercial asset under management, providing diversified income across three established occupiers. The property offers strong main road exposure, ample on-site parking, and a flexible mix of showroom and warehouse improvements within the thriving commercial precinct of Ballarat.

RWC SOUTHWEST

BUNDAMBA, QLD

A brand new complex comprising a mix of owner occupiers and tenants, with multiple units under management by RWC Southwest.

QLD

Long Term Investment

170-174 Clarke Road, Crestmead, 4132

Crestmead Benchmark Warehouses|Q2 2026

•Unit Sizes: Ranging from 140m2 to 400m2

•Seamless Navigation: Full drive-through accessibility

•Increased Floor to Mezzanine Height for Improved Functionality

•Container height roller doors with 6.5m - 7.5m internal clearance

•3.5m Wide Commercial Grade Roller Doors

•Each unit includes toilet, shower connections, kitchenette & mezz area

•Power: 3-phase power available on site

•SRV Loading Bays

•Dedicated and Visitor Parking

•Security: Secure gated access

•Tenant Led Design

unit in modern, well-presented complex

68m2* secure basement parking and storage area

Highly visible position with excellent street exposure

Central location in established commercial precinct

Easy access to major arterial roads and Sunshine Plaza

Suitable for owner-occupiers or investors 145m2* NLA - functional showroom/office configuration

Sale Expressions of Interest

Sheds from 162sqm* to 480sqm*

Modern industrial strata units in high-demand North Toowoomba location

•Positioned within the high-demand North Toowoomba commercial corridor

•Five strata units available, all incorporating mezzanine levels (TBC)

•All units feature 5m RAD (Roller Access Door) access for ease of logistics

•Unit areas ranging from 162.75sqm* to 480sqm*

•Zoned 'Medium Impact Industry'

•Closest substantial industrial site to the CBD

•Easy vehicle and logistics access to the New England and Warrego Highways

•Well suited to both owner-occupiers and investors

•Anticipated availability for occupation in Q4, 2026

Paul Schmidt-Lee 0499 781 455

paul.schmidt-lee@raywhite.com

RWC Toowoomba

raywhitecommercial.com

99, Goondiwindi-Millmerran Road, Millmerran, 4357

hectares*

Zoned Low-Medium Density Residential, this property presents an outstanding opportunity for developers, investors or land bankers seeking to capitalise on future residential demand in a well-established community.

Key features:

•Expansive 4.54ha* land parcel

•Zoned Low-Medium Density Residential

•Flexible development potential^

•Strong appeal for subdivision development

•Convenient access to local amenities

•Growing demand for regional housing

•Position yourself to deliver a much-needed residential project in a tightly held area with limited new supply

Tenant responsible for all outgoings

Three-month security bond plus personal guarantees High-traffic tourism precinct on North Stradbroke Island

102 Anzac Avenue, Redcliffe, 4020

Positioned within a key Redcliffe Peninsula growth node, 102 Anzac Avenue is a substantial main road site within the established health and commercial precinct. Flexible zoning and scale support future development or landbanking, with limited comparable sites remaining on the Peninsula. With greenfield land now scarce, opportunities of this scale and positioning are increasingly limited on the Peninsula.

Property Highlights:

•4,047m2 landholding with dual street frontage

•Holding income of approx. $165,000 p.a. across 5 tenancies

•Centre (Health) zoning allowing mixed-use, medical, residential or short-term accommodation (STCA)

•21m height allowance with multiple service points

Eagle Farm Corporate Park

Ultra-modern design by Sparc Architects

Air conditioned offices + amenities in each unit

Full height concrete tilt panel construction

Fenced & gated site + security cameras & patrols Fantastic Australia TradeCoast location 90m* frontage to busy Kingsford Smith Drive

Park Ridge, Queensland,4125 Expressions Of Interest

Closing 3pm Wednesday 6 May 2026

1.5ha* Medium Impact Industrial Lot | Off-the-Plan

RWC Queensland is proud to present the opportunity to secure a 15,548sqm* industrial land parcel forming part of a DA-approved industrial subdivision at Hubner Road, Park Ridge.

FEATURES (ON TITLE REGISTRATION):

•15,548sqm* freehold industrial allotment (Lot 2A)

•Medium Impact Industry zoning

•Not part of a Community Management Scheme

•Regular-shaped lot with 137.7m* frontage

•Approved access via Crestmead Logistics Estate

•Serviced industrial allotment upon completion

•Suitable for logistics, warehousing, manufacturing and owner-occupiers (STCA)

raywhitecommercial.com RWC Queensland Paul Anderson 0438 661 266 p.anderson@raywhite.com Andrew Doyle 0412 853 366 andrew.doyle@raywhite.com

'Billboard' Tenancy in the Heart of the Albion Boom

Stop paying for digital ads when your storefront can do the work for you. Located directly on the Sandgate Road arterial corridor, 299 Sandgate Road, offers a highimpact, dominant branding opportunity that captures the eyes of over 40,000 passing cars every single day.

Surrounded by the iconic Albion Hotel, an established pharmacy and a rapidly expanding catchment of high income young professionals and new apartment developments, this location is built for brands that thrive on visibility.

Positioned close by the Albion Train Station which is to undergo a massive government and private precinct upgrade, this site sits at the epicenter of Brisbane's most active urban renewal corridor.

4/62 Abbott Street, Cairns City, 4870

High-Foot Traffic CBD Hospitality Asset

The property features a fully equipped commercial kitchen, cold room, and internal seating for up to 60 patrons, allowing an incoming operator to significantly reduce setup time and capital outlay. Street presence is enhanced by an approved front-footpath dining area, ideal for outdoor trading and visibility. One on-title car park.

•98 sqm strata-titled premises in a tightly held CBD hospitality precinct

•Fully fitted commercial kitchen, cold room, and services in place

•Internal seating capacity for up to 60 patrons

•Approved front footpath dining area

•High-exposure Abbott Street frontage with exceptional pedestrian traffic

•Vacant possession - ready for immediate occupation,

Infrastructure

9 Tank Street, Gladstone, 4680

This 759m2* parcel offers a blank canvas for investors and developers alike. With its central location, the property is ideally situated to take advantage of the growing demand for commercial space in the Gladstone CBD.

Features:

• 759m2* total site area

• Currently used as overflow parking

• Corner block with frontage to Tank Street and Off Lane

• Exposure to daily high traffic flows

• Zoned 'Mixed Use' Don't miss out on the chance to secure a valuable piece of real estate in the Gladstone CBD.

Sale $300,000 + GST (if applicable)

RWC Gladstone

raywhitecommercial.com

Andrew Allen 49723288 andrew.allen@raywhite.com

David Fawkes 0422 913 869 david.fawkes@raywhite.com

• 664 m2* floor area

• Combination retail, office and workshop tenancies

• 1,434m2* site area

• 16 onsite car parks

• Vacant possession available Ideal for^:

• Amalgamate for single use

• Fast food / Drive-thru

• Medical / Allied health

• High profile office or Showroom

27 Scenery Street, Gladstone, 4680 Sale

$1,200,000 + GST

Andrew Allen 49723288 andrew.allen@raywhite.com

John Fieldus 4972 3288 john.fieldus@raywhite.com

NSW | ACT

Suite 301, 66 Clarence Street, Sydney, 2000

Brand new fitout

66 Clarence Street is aa B Grade 11 level office tower on the corner of Erskine Street and Clarence Street. The building features end of trip facilities and parking in the basement. 4.0 star NABERS. The top 2 floors provide coworking spaces

•Brand new spec completed, accommodating 38 staff •Arrival area, 12p boardroom, 2 meeting & 2 focus rooms

•Open plan with 38 to 40 workstations and 1 executive office.

•Quality kitchen with open plan cafe style seating Video Tour: https://www.youtube.com/watch?v=5OhEXe0KVCQ

E3 Productivity Support

18th April at 10:00am

Building Area: 225sqm* Land Area 196sqm*

Land Zoning E1 - Local Centre (Mixed use)

60sqm* retail space with excellent street exposure

3-bedroom residence + Attic or additional 4-bed

North-facing garden, rear lane access to street parking

Ideal live/work or home plus income

1km to the new Sydney Fish Market, minutes to CBD

22A O'Connell Street, Parramatta, 2150 Sale Request for Tender, closing Wednesday 15 April 2026

Government Surplus Land3,073m2* Land benefitting from MU1 Mixed Use Zoning

RWC Western Sydney is pleased to present 22A O'Connell Street, Parramatta, on behalf of NSW Government, representing a strategically located landholding within the core of Sydney's second CBD. The property will be offered for sale via a Request for Tender process.

Highlights of the Site:

•Site Area 3,073m2*

•Zoned MU1 Mixed Use

•Building Height 18m & 54m

•Floor Space Ratio (FSR) 3:1

•Mixed use zoning allowing a multitude of future developments^

696

2/182 Hartley Road, Smeaton Grange, 2567

Auction Tuesday 28th April 2026 at 10:30am (AEST) On site

Zoned E4: General Industrial

3-Phase Power

3 Designated parking spaces

Internal Clearance 7 meters*

Split air conditioning system

Total Building Area: 456 sqm* RWC SC

Offered with vacant possession

Samuel Hadgelias 0403 254 675

Liam Regan 0488 542 600

Robert OFarrell 0434 388 313

raywhitecommercial.com

1/1 Box Road, Caringbah, 2229

Rare Opportunity in Taren Point for Investors

RWC Sutherland Shire and Summit Property Agents is pleased to exclusively offer for sale this exceptional large 266m2* ground floor commercial suite. DA approved for health consulting rooms and with a new purpose-built fit out that has been certified and completed to meet the highest standards.

The property is currently tenanted by a highly respected Developer/Builder (Terra Ferma) who operates their design and administrative functions from the suite.

• DA approved for health services

• Certified purpose built fit out

• Tenanted investment with upside potential

• Comprised of 266m2* + 4 undercover spaces

Sale Contact Agent

RWC Sutherland Shire

raywhitecommercial.com

Brad Lord 0439 594 121 blord@raywhite.com

Isaac Longmuir 0431 360 508 isaac.longmuir@raywhite.com

1/270A Captain Cook Drive, Kurnell, 2231

Captain's Quarters

Presenting one of Kurnell's most unique industrial leasing opportunities, this well-appointed industrial unit offers a rare blend of functionality and character. The property includes high clearance warehouse space, built in mezzanines, multiple office and storage areas, and a front hardstand ideal for parking or material storage.

• Total building area 761m2*

• High-clearance warehouse spanning 408m2*

• 137m2* of polished concrete mezzanine space

• Commercial kitchen, lunch area & kitchenette

• Full bathroom amenities

• Two-level office/showroom 216m2*

• Two lock-up garages + hardstand

• Private entry

Sale Contact Agent

Sutherland Shire

Brad Lord 0439 594 121 blord@raywhite.com

Isaac Longmuir 0431 360 508 isaac.longmuir@raywhite.com

VIC

2645 South Gippsland Highway, Tooradin, 3980

High visibility and accessibility via Dore Road

Sheds, power, fencing, and dams throughout property

4BR home leased on 5 acres returning $40,800 pa Opportunity for various uses in the future (STCA) Two titles | Offers potential for separate ventures

Perfect "set and forget" asset in CBD location

Surrounded by major national retailers and independents Beautifully presented 102m2 internal floorspace Lease Term: Securely leased until 2027

57 Lowens Lane, Benalla, 3672

Total Land Area: 59,811m2 (5.98ha)

Total Warehouse Space: 6,370m2 across multiple buildings.

Total Office Area: 375m2

Industrial 1 Zone

3 phase power with 630 Amps per phase

Offered with vacant possession, ready for immediate occupation.

Expressions Of Interest Closing 31st March.

RWC Glen Waverley

raywhitecommercial.com

Ryan Trickey 0400 380 438 ryan.trickey@raywhite.com

Dillon Chambers 0422909456 dillon.chambers@raywhite.com

29 Sydney Road, Benalla, 3672

Showroom and Warehouse on 11,690m2

Total Land Area: 11,690m2

Showroom & Office: 1,020m2 of high-quality, open-plan showroom.

Warehouse: 720m2 high-clearance warehouse

High visibility neighbouring several national retailers

Zoning: Commercial 2 (C2Z).

Expressions Of Interest Closing 2nd April @1pm

RWC Glen Waverley

Ryan Trickey 0400 380 438 ryan.trickey@raywhite.com

Dillon Chambers 0422909456 dillon.chambers@raywhite.com

WA

256 St Georges Terrace, Perth, 6000

Expressions Of Interest

Closing Wednesday 29th April 2026 at 2pm AWST

Iron Clad Investment

•100% fully leased freehold asset with an attractive WALE by income of 5.5 years (approx.)

•Leased to Fortescue (ASX:FMG) at sustainable rental levels

•23,050m2 prime office tower at the western gateway to the Perth CBD

•280 parking bays including Wilson Parking station

•Expansive circa 3,000m2 floorplates (lvl 1-6) around a central core offering tremendous flexibility, natural light and panoramic views

•The lessor and tenant have invested c. $80 million into the building

•NABERS 5 star BEEC Certified

Andrew Woodley-Page 0438 939 869 andrew.woodleypage@raywhite.com

Brett Wilkins 0478 611 168

RWC WA

raywhitecommercial.com

TAS

2-4 Pear Avenue, Derwent Park, 7009

22-Year Occupancy History with Long-Term Leaseback Commitment

RWC Tasmania has been appointed to sell 2-4 Pear Avenue, a well established industrial asset, ideally positioned in the heart of Derwent Park. Having been owner occupied for over 20 years, the property is now offered to the market with a brand-new leaseback.

Key property features include:

+ Substantial single-storey, clear-span warehouse + 2,175 sqm* combined with a site area of 3,693 sqm*

+ On-site parking with drive-through, ramped vehicle access

+ Brand new 5+5 year lease with scaffolding operator + Net annual rent of $310,000* p.a. (tenant paying statutory outgoings)

+ Appealing commercial terms with structured rental growth

raywhitecommercial.com

32 Davey Street, Hobart, 7000 Sale Expressions Of Interest closing Thursday, 16th of April at 4pm (AEST)

Heritage Corner with Diversified Income and Development Upside

RWC Tasmania has been appointed to present an extraordinary opportunity to secure a high profile landmark in the heart of Hobart’s professional precinct. Positioned 100m* from the waterfront and the CBD, 32 Davey Street offers the perfect balance of immediate rental income and untapped development potential.

Key property features include:

+ Expansive lower ground floor comprises a stunning, vacant sandstone footprint. Raw, atmospheric, and ready for a flagship cellar, bespoke bar transformation^ with level access off Murray Street

+ Anchored by a long-term medical tenant, providing secure, "set-and-forget" cash flow

+ Fully leased first floor comprising light-filled office suite with charming heritage features

hayden.peck@raywhite.com

Trevor Fox 0419 355 917

trevor.fox@raywhite.com

RWC Tasmania Hayden Peck 0412 766 395

raywhitecommercial.com

22 Hannover Place, Rolleston, NZ, 7614

Motivated Owner Wants Sold

Our motivated owner wants this superb warehouse sold. Therefore, forget all previous price indications.

Recently completed high stud, standalone warehouse of 885m2* with an amenities block of 13m2*. Total building area of 898m2*.

Good natural light, high bay LED lighting, 3 phase power, 3 roller doors, providing flexible vehicle entry and drivethru access.

Generous sized freehold title with an underlying land area of 2,607m2*, providing ample room for a large sturdy concrete yard area which surrounds the building and is fully security fenced.