Altis Buys Cullen Avenue West Property in the Northshore Hamilton Priority Development Area

Altis Property Partners has acquired its second large-form industrial investment for $32.25 million in the Northshore Hamilton Priority Development Area.

The site on Cullen Avenue West is part of the Trade Coast precinct, one of the largest employment sites and sought-after locations in Queensland. Spanning 12,032 square metres, the property’s tenants include Freedom Fuels, Scout Aerial Services and Plastral. 

Altis intends to upgrade the business park in time for the Brisbane 2032 Olympics and make it available for more tenants. This was the key reason for the company’s decision to secure the asset because of its benefits in the future.

“One of the key characteristics which attracted us to this asset is the benefit from the future infrastructure investment in the precinct,” Gareth Price, the Director Capital Transactions at Altis said. “The Northshore Hamilton Priority Development area will undergo a major transformation into a vibrant, mixed-use precinct. This new industrial acquisition fits within our strategy of buying in core markets, centrally and conveniently located to employment hubs, with access to key infrastructure.”  

“We are thrilled to add this asset to Altis’ diversified AREEP4 fund due to its diversified income and near term positive rental reversion opportunity due to the short weighted average lease expiry (“WALE”),” James King, the Director Investment Management and Capital said. “This acquisition reflects the exact type of asset the fund is targeting with the ability to access value by increasing the net rental income and extending the WALE in a tightly held precinct with the lowest vacancy rate of c0.6% in the Brisbane industrial market. Despite the headwinds caused by the inflationary environment we find ourselves in, we feel strong supportive fundamentals remain for the industrial sector at the right entry prices.”

It comes a few months after Altis also acquired a 9.03-hectare industrial investment in Western Australia and a Build-to-Rent project in Melbourne.

Published 4 March 2023

Northshore Hamilton Transformation Accelerated, Development Scheme Amendment Approved

Plans for a world-class riverfront precinct that will serve as a future home of the Brisbane Athlete Village for the Brisbane 2032 Olympic and Paralympic Games have been accelerated, with the approval of the expansion of the Northshore Hamilton Priority Development Area.

Announced in late October 2022, Deputy Premier and Planning Minister Steven Miles approved a development scheme amendment for the Northshore Hamilton Priority Development Area, adjoining the Brisbane River and suburb of Hamilton.

“An additional 1.2 kilometres of this prime waterfront location will be transformed into a vibrant, mixed-use precinct for the community,” Mr Miles said, adding that the project will be one of the biggest contributions of Brisbane riverfront parkland since South Bank was established.

“A new commercial heart will be located along Macarthur Avenue to take advantage of increased foot traffic and maximise the invaluable new riverside parkland.”

Northshore Hamilton Transformation Accelerated, Development Scheme Amendment Approved
Photo credit:  The State of Queensland /

Northshore Hamilton is a 304-hectare precinct which makes it Queensland’s largest waterfront urban renewal project, supporting a mix of retail, residential, entertainment, cultural and commercial uses.

The amendment will enable Northshore to accommodate more than 10,000 athletes and team officials for the Olympic Games and more than 5,000 for the Paralympic Games. It will also deliver new roads, road upgrades and a new public realm.

The Athlete Village will be developed on the Economic Development Queensland-owned land within the Northshore Hamilton PDA.

The Deputy Premier added that the Athlete Village will be converted into a housing and commercial property once the Olympic and Paralympic Games conclude. This in turn will provide more than 1,750 apartments along with commercial and retail space.

Overall, the Northshore Hamilton is estimated to provide over 14,000 dwellings which will house more than 24,000 residents. The residential offering will include aged care, retirement living social and affordable housing, key worker, hotel, build-to-rent and market accommodation.

The amendment to the development scheme took effect on 28 October 2022 following the online publishing.

Hamilton to House Facility for Needle-Free Vaccines Production

Hamilton will become the homebase of a medical facility that will create needle-free vaccines for COVID-19. The proposed site at the Northshore Hamilton Priority Development Area is expected to bring 139 jobs and $497 million to the Queensland economy, with active production spanning 10 years.

Queensland Premier Annastacia Palaszczuk announced the partnership with Vaxxas, the manufacturer of the High-Density Micro-projection Array Patch (MAP) vaccine. A building from the Economic Development Queensland will be prepared for the medical company before the vaccine manufacture of 300 million patches every year beginning in 2022. 

“For every parent worried about the anxiousness that comes with the delivery of a vaccine to a child through a shot, this technology has the potential to eliminate that anxiety,” Treasurer and Infrastructure and Planning Minister Cameron Dick said in a press statement

Mr Dick also said that this facility will be significant to the economic recovery of the state from the pandemic as Queensland will attract highly-skilled jobs and advanced technology manufacturers.

The advanced technology entails a dry-coated vaccine patch to be applied to the skin. The vaccine deposits into the skin’s immune cells, which will create an efficient immune response. A doctor or a nurse won’t have to administer the patch.

Clinical trials at Australia’s Translational Research Institute in Woolloongabba show that the needle-free vaccines produce six times more antibodies within a short period compared to vaccines administered through the needle. 

Photo Credit: Translational Research Institute/Facebook

Vaxxas’ new vaccine has the support of the World Health Organisation, the pharmaceutical company Merck and the Bill and Melinda Gates Foundation.